10-Q - Kayne DL 2021, Inc. (0001850787) (Filer)

Wed, Nov 13, 10:11 PM (65 days ago)

Kayne DL 2021, Inc. (Ticker: KDL), reported its Q3 2024 results, showcasing significant growth in its financial metrics. Total investment income surged to $7.7 million for the quarter, compared to $4.7 million in Q3 2023, driven primarily by increased interest income from debt investments, which rose from $4.5 million to $7.6 million year-over-year. The company achieved net investment income of $6.96 million, up from $4.16 million, and net assets increased to $246.4 million, reflecting strong operational performance. The company maintained a robust cash position with $2.04 million in cash and cash equivalents, alongside $26.4 million in unfunded commitments. Notably, all debt investments yielded floating rates, averaging 11.8% at fair value. The net asset value per share slightly increased to $5,260 from $5,229. Kayne DL’s proactive management strategy, focusing on first lien senior secured loans, has resulted in no loans being placed on non-accrual status. However, risks remain, including economic uncertainties and interest rate fluctuations. Future operations will be influenced by these factors and the company’s ability to navigate market conditions effectively.