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3/19/15: Goldman Sachs (NYSE: GS) debuted their small-cap specialty finance firm Goldman Sachs BDC Inc. (NYSE: GSBD) Tuesday, March 17. GSBD gained 0.3% to close at $20.05. The company raised $120 million, selling six million shares at $20 a piece after they were offered for as much as $21.
Goldman Sachs BDC is a business development company that has made more than $1 billion of loans to middle-market firms in the U.S. since its founding in 2012. BDCs typically pay out most of their earnings as dividends and get tax exemptions in return for investing in smaller U.S. companies.