McGladrey National Private Equity Group (PEG) Leader Don Lipari and National Business Development Companies (BDC) Practices Lead Jon Waterman recently participated in NASDAQs ringing of the closing bell, following the Hot Topics in Business Development Companies conference, co-sponsored by McGladrey & Pullen, LLP and the Small Business Investor Alliance (SBIA). The conference focused on the latest BDC intelligence and trends in the marketplace.
Read the Q&A below for a conference overview and a first-hand account of the prestigious bell-ringing ceremony:
Don: This event highlighted the latest trends and need-to-know information for private equity (PE) funds considering a business development company (BDC) structure. McGladrey was honored to be there, along with the Small Business Investor Alliance (SBIA) and NASDAQ. More than 80 small business investment companies (SBICs), BDCs, BDCs in registration and private equity funds interested in establishing or learning more about BDCs heard from 19 distinguished professionals from BDCs, PE firms, law firms and investments banks. Topics covered included current marketplace for IPOs, recent trends in portfolio valuations, listed vs. non-listed BDCs, SBIC insights within a BDC structure, hot topics related to pending accounting standard updates (ASUs), AICPA guidance, compliance and regulatory issues.
What is McGladrey's expertise in this arena?
Jon: McGladrey is a strong supporter of the BDC community. Our growing client base represents more than 20 percent of the active BDCs and/or BDCs in registration.
What differentiates McGladrey in this space?
Jon: Our one-firm focus in serving the BDCs is a real differentiator. From the typical services we provide clients (assurance and tax) to ancillary services (valuation, internal audit, SOX compliance, consulting on operational, regulatory and accounting matters) to transaction support work for the underlying portfolio companies, we continuously receive positive feedback from clients regarding our understanding of the BDC space and our attention to detail when providing services to help them succeed.
How was McGladrey chosen to participate in the bell ringing ceremony?
Jon: Given our expertise in the BDC space, we reached out to NASDAQ and the SBIA about co-partnering an event focused on BDCs to kick off 2012 as an event co-sponsor, we were invited to participate in the bell-ringing ceremony.
What was it like participating in the ringing of the NASDAQ bell?
Jon: Participating in the bell-ringing ceremony was a great experience, and a fun event. NASDAQ does a phenomenal job hosting events and making guests feel special. Seeing the McGladrey logo and brand on the NASDAQ tower and across several of the jumbo screens in Times Square was exhilarating, and raised awareness of the McGladrey brand for clients and potential clients.
Don: We were extremely proud to offer attendees and panelists the opportunity to be part of the NASDAQ closing bell ceremony at the "crossroads of the world" in Times Square.
What was the most memorable part of the event?
Jon: Witnessing the excitement of our attendees and panelists during the closing bell ceremony was a definite highlight.
What does this signify for clients/potential clients?
Jon: Being a co-sponsor of the conference demonstrates to clients McGladrey's continued focus on the BDC industry space. Our experience in and deep level of understanding of the industry, our SEC experience and our focus on PE funds, makes McGladrey an ideal partner for BDCs.
