SCHEDULE 13G 0000762152 XXXXXXXX LIVE Common stock, par value $0.001 per share 05/31/2024 0001747172 Kayne Anderson BDC, Inc. 48662X105 717 TEXAS AVENUE 22ND FLOOR HOUSTON TX 77002 Rule 13d-1(b) STATE OF MICHIGAN RETIREMENT SYSTEM MI 6566762.00 0.00 6566762.00 0.00 6566762.00 9.6 EP Reporting Person's ownership of common stock, par value $0.001 per share (the "Common Stock") first resulted in beneficial ownership resulting in more than five percent of the outstanding Common Stock on May 21, 2024, at which date, Reporting Person beneficially owned 6,566,762 shares of Common Stock representing 9.234 percent of the outstanding shares of Common Stock, based on 71,116,459 shares of Common Stock outstanding on such date. The information presented in this Schedule 13G reflects ownership as of January 15, 2026. Kayne Anderson BDC, Inc. 717 TEXAS AVENUE, 22ND FLOOR, HOUSTON, TEXAS, 77002 State of Michigan Retirement System 2501 Coolidge Road Suite 400 East Lansing, MI 48823 Michigan, United States N EP 6,566,762 9.601 6,566,762 0 6,566,762 0 Y N Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. STATE OF MICHIGAN RETIREMENT SYSTEM Jeannette J. Brya 01/15/2026