Tue, May 14, 9:18 PM (232 days ago)
AMG Comvest Senior Lending Fund's Q1 2024 10-Q report shows a significant increase in net assets from $27.5 million to $41.5 million, driven by $14 million from new common shares issuance. The fund's investments grew from $18.3 million to $25.3 million, with a focus on non-controlled, non-affiliated senior secured loans. Investment income was $747,000, primarily from interest, while net expenses were $101,000 after fee waivers and reimbursements. Net investment income was $646,000, and the fund reported a net increase in net assets of $540,000. Unrealized losses on investments were $106,000. The fund has maintained a strong liquidity position with $16 million in cash and cash equivalents, and $8.5 million in undrawn capital commitments. Future operations may be impacted by interest rate fluctuations, but the fund's portfolio is well-positioned with 99% of investments bearing variable interest rates.