American Capital and Northstar Realty struggle

|By:, SA News Editor

Particularly hard hit in a red BDC sector (BIZD -1%) is American Capital (ACAS -3.2%). The stock had run up sharply two weeks ago on hopes for a spinoff of the asset management business, but receptive public markets are necessary for such a move. With today's decline, the shares have given back about all of those gains.

Also struggling over the past couple of weeks is Northstar Realty Finance (NRF -3.4%) which is spinning off its asset management unit.