notices - See details
Notices
building-capital-markets
THEME: CAPITAL MARKETS
10 March 2026 In Practice Brief

In Practice Brief: The Performance of Small Business Investment Companies

CFA Institute Research and Policy Center

A large-sample analysis shows SBIC funds outperform non-SBIC peers across IRR, MOIC, and PME. Performance is strongest for funds using moderate SBA leverage and larger fund sizes, with equity strategies showing greater variability than debt funds.

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