Tue, May 14, 4:25 PM (73 days ago)
Golub Capital Direct Lending Unlevered Corporation (GDLCU) reported significant growth for the quarter ended March 31, 2024. Total assets increased to $225.4 million from $141.9 million in September 2023, driven by substantial new investments and capital contributions. Investment income rose sharply to $10.7 million for the six months ended March 31, 2024, from $3.9 million in the prior year, largely due to higher interest income from a growing portfolio and rising base rates. Net investment income after tax also saw a significant increase, reaching $8.7 million compared to $3.6 million in the previous year. The portfolio, predominantly composed of one stop loans (93.4% of total investments), expanded to 96 companies, with a notable rise in recurring revenue loans. The company maintained a steady net asset value per share at $15.00. GDLCU's financial health appears robust, with no outstanding borrowings and a strong net increase in assets resulting from operations. Future performance is expected to benefit from continued capital inflows and investment opportunities.