Robert K. Grunewald

Robert K. Grunewald most recently served as the President and Chief Investment Officer of Business Development Corp. of America (BDCA). During his tenure at BDCA, Mr. Grunewald grew the company from $2.5 million of assets under management to $2.5 billion. BDCA was one of the top performing non-traded BDCs during Mr. Grunewald’s tenure. Mr. Grunewald hired the investment and origination teams, established BDCA’s strategy, and chaired the investment committee. He also established the firm’s loan management systems as well as its policies and procedures. While at BDCA, Mr. Grunewald also founded Kahala Aviation, a mid-life aircraft leasing business and The AR Capital BDC Income Fund, the first open-end mutual fund dedicated to investing in the BDC sector.

Mr. Grunewald has over 30 years of experience with middle market finance, BDCs and asset management. Within the finance industry, he has participated as a lender, investment banker, M&A advisor, private equity investor and hedge fund manager. As head of Financial Services M&A at NationsBank/Montgomery Securities from 1992 through 1997, Mr. Grunewald and his team completed numerous assignments for clients throughout the specialty finance industry. In 1997, Mr. Grunewald was recruited to lead the Specialty Finance Investment Banking Practice at what became Wachovia Securities. At Wachovia, Mr. Grunewald managed a number of high profile transactions, including initial public offerings and secondary offerings for some of the largest publicly-traded BDCs and finance companies including Capital Source, Ares Capital, American Capital Strategies, Allied Capital, and Gladstone Capital.

In 2006, Mr. Grunewald joined American Capital Strategies (‘‘ACAS’’), which was one of the largest publicly-traded BDCs before it was sold to Ares Capital Corp. in 2017. As head of the Financial Services Investment Practice from 2006 through 2009, Mr. Grunewald and his team focused on investment activity in the specialty finance, insurance, and asset management sectors. In his three years at ACAS, Mr. Grunewald committed over $1 billion to debt and equity investments generating an average annual return of 9.6%. While at ACAS he founded two highly successful financial services companies: Core Financial Holdings, a diversified commercial finance company and asset based lender, and American Capital Agency Corporation (NASDAQ: ‘‘AGNC’’), a publicly traded mortgage REIT.