Business Development Corporation of America, a non-traded business development company, has appointed Nina Kang Baryski to replace Corinne Pankovcin as the company’s chief financial officer and treasurer.
As previously reported, Pankovcin plans to resign no later than July 1, 2019, and BDCA said that her departure is not due to any dispute or disagreement with the company.
Baryski serves as director and fund controller at Benefit Street Partners, an affiliate of BDCA’s advisor, and oversees the financial accounting and reporting of all of Benefit Street’s private debt fund platform.
Prior to joining the firm in 2012, Baryski worked at Audax Group as a finance manager focusing on financial reporting and fund operations. She started her career at PricewaterhouseCoopers in the investment management practice and received a Bachelor of Science in finance and accounting from the Stern School of Business at New York University and is a certified public accountant.
BDCA primarily invests in senior secured loans, and to a lesser extent, mezzanine loans, unsecured loans and equity of private middle-market companies. The company commenced its initial public offering in January 2011 and raised $1.9 billion before closing the offering in April 2015. As of the fourth quarter of 2018, the company had approximately $2.5 billion of total assets.
Franklin Resources Inc. [NYSE: BEN], a global investment management organization operating as Franklin Templeton Investments, recently purchased Benefit Street Partners, an affiliate of the BDCA’s advisor. Benefit Street acquired all of the outstanding interests of BDCA’s adviser from AR Global in November 2016 by purchasing $10 million of company common stock.