Form N-54A business development company elections
Form N-54A notifications of election to be regulated as a business development company (BDC) under the Investment Company Act.
curl -H "Authorization: Bearer $SECFEED_KEY" \ "https://secfeedapi.com/v1/filings?query=formType:%22N-54A%22&size=2"
import os, requests
r = requests.get(
"https://secfeedapi.com/v1/filings",
params={'query': 'formType:"N-54A"', 'size': '2'},
headers={"Authorization": f"Bearer {os.environ['SECFEED_KEY']}"},
)
print(r.json())What is N-54A?
A closed-end fund becomes a business development company by filing Form N-54A, its notification of election to be subject to sections 55 through 65 of the Investment Company Act. A BDC must invest mostly in eligible private and small public US companies.
The N-54A is a short form, but it is the cleanest signal of a new BDC. The surge in private credit BDCs since 2020 shows up first in these filings.
Closed-end companies electing BDC status, typically private credit and venture lending vehicles.
When the company elects BDC status, usually around the time it registers its shares or begins operations. Form N-54C withdraws the election.
Filings per year
Every N-54A filing on EDGAR, counted from the SecFeed index. Updated daily.
What is inside
| Section | Contents |
|---|---|
| Company identity | Name, address and file number. |
| Election | The statement that the company elects to be subject to sections 55 through 65. |
| Signature | Officer signing on behalf of the company. |
Get N-54A data with SecFeed
Search the filings with formType:"N-54A", read any document as text or PDF, and use these APIs for structured data:
Latest N-54A filings
| Company | Form | Filed | |
|---|---|---|---|
| Third Point Private Capital Income Fund | N-54A | 2026-10-01 | EDGAR ↗ |
| SLR Secured Specialty Lending Fund | N-54A | 2026-09-29 | EDGAR ↗ |
| New Carlyle Credit Solutions | N-54A | 2026-09-09 | EDGAR ↗ |
| Macquarie Infrastructure Income Opportunities Fund | N-54A | 2026-07-31 | EDGAR ↗ |
| Fidelity Private Credit Co II LLC | N-54A | 2026-07-23 | EDGAR ↗ |
| Robinhood Ventures Fund II | N-54A | 2026-07-20 | EDGAR ↗ |
| TCW Specialty Lending IX LLC | N-54A | 2026-07-01 | EDGAR ↗ |
| CIFC Direct Lending Evergreen Fund LP | N-54A | 2026-06-01 | EDGAR ↗ |
Use cases
- Build a list of new BDCs, including non-traded and private ones
- Track private credit fund formation over time
Related forms
Form N-2 registration statements for closed-end funds, interval funds and business development companies, including N-2ASR automatic shelves.
10-KAnnual reportsEvery Form 10-K annual report filed on EDGAR since 1993, searchable by company, date and text, with sections and XBRL financials as JSON.
N-8FDeregistrationForm N-8F applications to deregister an investment company after liquidation, merger or abandonment of registration.
FAQ
What does a BDC have to invest in?
At least 70% of total assets in eligible assets, mainly securities of private or small public US companies, plus cash and government securities.
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