Golub Capital BDC (GBDC) shares plummeted 5.26% at market open on Tuesday, as investors reacted negatively to the company's participation in a major financial transaction.

The sharp decline follows news that Golub Capital is co-leading a $790 million single-asset continuation vehicle for Solace Systems Inc., a real-time data and agentic AI platform. The transaction, which also involves Apogem Capital, HSBC Asset Management, and Schroders Capital, represents a significant capital commitment that has raised concerns among investors about the company's capital allocation and risk exposure.

Bridge Growth Partners initiated the continuation vehicle, with the transaction resulting in Bridge Growth's stake exceeding 15% of total equity post-closing. The Healthcare of Ontario Pension Plan, a minority investor, rolled over its existing equity position as part of the deal.