NEW YORK, April 15, 2014 /PRNewswire/ — BDCA Adviser, LLC (“BDCA Adviser”) announced today that it has entered into an agreement to acquire 100% of the equity interests of Keating Investments, LLC (“Keating Investments”). Keating Investments acts as investment adviser to Keating Capital, Inc. (“Keating Capital”), a listed (KIPO:NASDAQ) business development company that specializes in making pre-IPO investments in emerging growth companies. Following the closing of the acquisition, Keating Investments will operate under the name “BDCA Venture Adviser” with its current management as a separate subsidiary of BDCA Adviser.

Peter M. Budko, Chief Executive Officer of BDCA Adviser, commented in connection with the transaction, “We look forward to welcoming Tim Keating and his team onto the broader BDCA Adviser/AR Capital platform. This alliance allows us to expand the capabilities of BDCA Adviser into the highly attractive venture equity arena. We believe that the clients of our two firms have the potential to realize significant benefits from this transaction.”

Bob Grunewald, Chief Investment Officer of BDCA Adviser, added, “We are focused on continuing to build out a diversified debt investments platform at AR Capital. The addition of Keating Investments augments this platform with a very experienced venture investing team. We are excited to complete this transaction and begin working with Tim and his team.”

The closing of the transaction is subject to the approval of Keating Capital’s shareholders of a new investment advisory agreement between Keating Investments and Keating Capital. The transaction is expected to close in the second quarter of 2014 and is subject to certain other customary closing conditions.

About BDCA Adviser

BDCA Adviser is registered with the SEC as an investment adviser under the Investment Advisers Act of 1940, as amended, and was formed in June 2010. BDCA Adviser is an indirect wholly-owned subsidiary of AR Capital, LLC, which directly and through its affiliates sponsors a variety of securities offerings, including publicly registered non-traded real estate investment trusts, a publicly registered non-traded business development corporation and funds registered under the Investment Company Act of 1940. As of December 31, 2013, BDCA Adviser managed approximately $992 million in assets (at fair value and including assets purchased through a total return swap). This press release is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state where the offer and sale is not permitted.

Important Notice

The statements in this press release include statements regarding the intent, belief or current expectations of BDCA Adviser and members of its management team, as well as the assumptions on which such statements are based, and generally are identified by the use of words such as “may,” “will,” “seeks,” “strives,” “anticipates,” “believes,” “estimates,” “expects,” “plans,” “intends,” “should” or similar expressions. Actual results may differ materially from those contemplated by such forward-looking statements. Further, forward-looking statements speak only as of the date they are made, and BDCA Adviser undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law.

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SOURCE BDCA Adviser, LLC