Wed, Mar 5, 9:49 PM (52 days ago)
**LGAM Private Credit LLC (Ticker: N/A)** For the fiscal year ended December 31, 2024, LGAM Private Credit LLC, a Delaware-based BDC, reported significant growth in assets, with total assets reaching approximately $253.7 million and net assets of $144.1 million. The company generated revenue primarily through interest income, capital gains, and various fees, with a notable yield of 9.8% on debt securities at amortized cost. The firm is externally managed by Morgan Stanley's Investment Management division, leveraging its extensive network to identify investment opportunities in middle-market companies. LGAM's strategy focuses on senior secured loans, with a significant portion of its portfolio in floating-rate instruments. The company maintains a conservative approach to risk management, emphasizing due diligence and monitoring. However, potential risks include economic volatility, rising interest rates, and regulatory challenges, which could adversely impact portfolio performance and distribution capabilities. The firm has adopted a distribution policy to return at least 90% of taxable income to maintain RIC status, although distributions may be affected by market conditions and operational challenges. Additionally, the company has a unit repurchase program, though liquidity remains limited due to the absence of a public market for its units. Overall, LGAM's financial health reflects a robust investment strategy amid a competitive landscape, with ongoing monitoring of economic conditions and portfolio performance critical to its future outlook.