BDC Bond Bust Creates Opportunity for $622 Billion Asset Manager MFS
From The Credit Edge by Bloomberg Intelligence by Bloomberg
April 9, 2026 · 52 min
About this episode
The episode discusses the opportunities arising from the current state of business-development companies and the technology sector's debt issuance.
A retail exodus from business-development companies has dragged their debt to levels that are starting to look attractive, according to MFS Investment Management. “Pressure for redemptions that they’re facing likely ends up creating some opportunities within the public credit markets,” Alex Mackey, the firm’s co-chief investment officer for fixed income, tells Bloomberg News’ James Crombie and Bloomberg Intelligence’s Robert Schiffman in the latest Credit Edge podcast. “You can line up all the public and the private BDCs and you can go through and see which ones have the leverage metrics that are most attractive,” said Mackey, whose firm oversees $622 billion in assets. They also discuss the deluge of technology sector debt issuance and how wide credit spreads would have to go before they’d look attractive. See omnystudio.com/listener for privacy information.
People in this episode
Hosts: James Crombie, Robert Schiffman
Guest: Alex Mackey
Topics covered
- business-development companies
- public credit markets
- technology sector debt
- credit spreads
- investment opportunities
Keywords
- BDC
- debt
- investment management
- credit markets
- redemptions
- leverage metrics
- credit spreads
Mentioned in this episode
Organizations: MFS Investment Management, Bloomberg News, Bloomberg Intelligence
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