Barings BDC, an investment company, completed the merger with Sierra Income, a non-traded business development company, in a $624m deal. The transaction is expected to close in the first quarter of 2022. "We are very excited to announce that we have entered into an agreement to purchase Sierra Income Corporation. This combination will create a scaled top-10 BDC with enhanced earnings profile, portfolio diversification, and best-in-class shareholder alignment," Eric Lloyd, Barings BDC Chairman and CEO.