Friday, June 5, 2026

The Performance of Small Business Investment Companies

The Performance of Small Business Investment Companies

Gregory W. Brown, Wendy Y. Hu, David T. Robinson, and William M. Volckmann II

A big sample evaluation shows that SBIC funds outperform non-SBIC funds in IRR, MOIC, and PME. Funds with moderate SBA leverage and bigger fund sizes perform best, with equity strategies having greater variability than bond funds.

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