Bcp Investment Corporation · NASDAQ:BCIC

Bcp Investment — KCAP Financial — Q1 2014 Earnings Presentation

13 slides from Bcp Investment's earnings presentation, 2014

  1. Slide 1: First Quarter 2014 Earnings Presentation

    First Quarter 2014 Earnings Presentation

  2. Slide 2: Forward Looking Information

    Forward Looking Information This presentation includes forward-looking statements. The matters discussed in this presentation, as well as in future oral and written statements by management of KCAP Financial, Inc., that are forward-looking statements are based on current management expectations that

  3. Slide 3: Q1 2014 Highlights & Recent Events

    Q1 2014 Highlights & Recent Events Net Interest Income  $.24 per basic share for Q1’14 compared to $.24 for Q4’13 and $.23 for Q3’13  $20.5 million of loans closed in Q1’14 with a weighted average yield of 11.9% Direct Lending  $7.5 million of loans closed in 1Q’14 into the securitization facilit

  4. Slide 4: Originations and Repayments

    Originations and Repayments Direct Lending Business Seeing Improved Deal Flow and Yields  Closed $20.5 million of debt security investments with a weighted average yield of ~11.9% in Q1  KCAP Senior Funding – continue to rotate out of placeholder loans  Sold $9.5 million of senior loans with an a

  5. Slide 5: NII Contribution

    NII Contribution Strong Momentum in Our Direct Lending Business In millions 14.0 12.0 Other 10.0 Dividends from Asset 8.0 Manager Affiliates Dividends from CLO 6.0 Fund Securities 4.0 Interest Income from Debt Securities 2.0 - 1Q13 2Q13 3Q13 4Q13 1Q14 Data as of, or for the three months ended 3/31/1

  6. Slide 6: Asset Manager Affiliates

    Asset Manager Affiliates  Wholly owned asset management business  $3.0 billion in AUM  Closed a $468 million CLO fund in May - Catamaran CLO 2014-1 Ltd.  Opened a warehouse for a second CLO fund in the second quarter of 2014  All CLO’s managed by KDA and Trimaran are current on equity distribut

  7. Slide 7: Q&A

    Q&A

  8. Slide 8: Appendix – Supplemental Information

    Appendix – Supplemental Information

  9. Slide 9: Portfolio Highlights

    PORTFOLIO HIGHLIGHTS PORTFOLIO DEBT SECURITIES - INDUSTRY DIVERSIFICATION Beverage, Food and Tobacco Banking, Finance, Insurance & Real Estate 11% Healthcare & Pharmaceuticals 17% High Tech Industries 11% Consumer goods: Non-durable 3% Telecommunications 4% Transportation: Cargo Automotive 5% 10% Me

  10. Slide 10: Investment Portfolio

    Investment Portfolio A balanced investment risk / return profile 1Q14 Portfolio Statistics Equity Asset Portfolio Manager 2% 17% Total Portfolio: Fair value2 $425 million First Lien Loan and Securities Portfolio: CLO Mezz 50% Fair value $273 million 18% Number of issuers 78 2nd Average deal/issuer s

  11. Slide 11: Strong Credit Quality

    Strong Credit Quality Experienced Management Team Has Led to Strong Credit Performance  In a portfolio of 70 loans, only four were on non-accrual status (representing less than 1% of total investments at fair value)  All four were originated in 2007  Ginn, CoActive, International Architecture, Su

  12. Slide 12: Interest Rate Risk

    Interest Rate Risk Well positioned for a rising rate environment  A majority of KCAP’s investments are in floating rate assets  Almost all the assets in the CLOs managed by our Asset Manager Affiliates are floating rate syndicated loans  KCAP has a mix of fixed and floating rate securities which

  13. Slide 13: Financial Highlights

    Financial Highlights NET ASSET VALUE INVESTMENT PORTFOLIO Monday, March 31, 2014 Fair Value NAV per Share March 31, 2014 Cost Fair Value Investments at Fair Value Time Deposits $ - $ - Investments in time deposits $ - $ - Money Market Accounts 4,133,429 4,133,429 Investments in money markets 4,133,4

KCAP Financial — Q1 2014 Earnings Presentation on 6ix