Mon, Sep 23, 8:39 PM (287 days ago)
For the quarter ended June 30, 2024, AB Private Lending Fund reported significant growth in financial metrics following its inception in June 2023. The Fund's total assets increased to $294,098,216, with investments valued at $281,055,848. The Fund generated total investment income of $5,696,785, primarily from interest income, resulting in a net investment income of $2,531,036 after expenses of $4,665,999. The net increase in assets from operations was $2,907,987, translating to an earnings per share of $0.67. The Fund's liabilities stood at $181,190,319, primarily from a term loan and credit facility. The asset coverage ratio was a healthy 163%, indicating robust capital management. Cash flow from financing activities was strong, totaling $174,976,960, driven by borrowings and share issuances. The Fund's strategy focuses on private credit investments in the U.S. middle market, targeting risk-adjusted returns through senior secured loans. However, future operations may face uncertainties from economic downturns and interest rate volatility, which could impact portfolio performance and investment opportunities.