Chemist, a BDC (Business Development Co.) is a specific kind of company, and that sector (BDCs) has its own SEC regulations and other regulations. I've invested in some BDCs in the past, because they often pay good dividends and can represent a way of investing not directly tied to valuations of the S&P500 or Nasdaq2000 etc.
PIOE is not a BDC, so the regulations of BDCs don't apply.
I presume (especially given the name-change in Dec.) that PIOE is a "holding company," and we'll have to figure out how "holding companies" are regulated... but we have a special case here wherein a holding co. (P10 Holdings) owns 100% a private equity investment mgmt company. It will be interesting, indeed, to see the 10-K and then that Q1 10-Q when RCP 3 results will also be included.
If PIOE is "kind" to its retail shareholders, mgmt may give us some info in the 10-K about RCP 3, not just RCP 2.
Many 10-Ks provide information on developments subsequent to the close of the official reporting period (e.g., Dec. 31, 2017), and so i'm hoping we'll get some info on RCP 3 in the 10-K and not have to wait until mid-May to hear anything at all about RCP 3 in the PIOE material.
As i've said previously, now that RCP 3 is fully owned by PIOE, it will no longer be lumped together with RCP 1 in those IAPD Form ADVs (or the Brochures) for the SEC, but will either file separately on its own or perhaps with RCP 2, now that both of them are owned by PIOE.
That will be another way we get some info on RCP Advisors.
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