A home equity line of credit, or HELOC, is a type of home equity loan that works similar to a credit card. You’re preapproved for a certain amount, which is a revolving line of credit. You’re allowed to borrow as much as you need as long as you don’t go over your limit.
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So why are private equity stars like KKR, Apollo, Blackstone and Carlyle Group setting up BDCs, and how do loans of $800 million fit in? The transformation is part of a broader set of changes that.
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