Fri, Nov 8, 9:52 PM (98 days ago)
AGL Private Credit Income Fund (AGL), established on January 18, 2024, converted from a limited partnership to a statutory trust on September 12, 2024. As of September 30, 2024, the fund reported total assets of $5,238,149, primarily consisting of cash and receivables, with liabilities of $5,228,149. The fund incurred organizational expenses of $2,727,557 since inception, with no revenues reported, reflecting its pre-operational status. The fund's investment strategy focuses on floating rate senior secured investments in U.S. companies, aiming for attractive risk-adjusted returns. It has executed subscription agreements for $1,003,550,000 in capital commitments but has not yet commenced operations. On October 11, 2024, AGL elected to be regulated as a Business Development Company (BDC) and initiated operations by purchasing $176 million in assets. The fund has established a revolving credit facility of up to $250 million and a loan facility of $300 million to enhance liquidity and investment capacity. The fund is externally managed and plans to adopt a dividend reinvestment plan and a share repurchase program in the future. Overall, AGL is positioned to leverage market opportunities in private credit while managing associated risks.