Wed, May 15, 7:59 PM (72 days ago)
KKR FS Income Trust Select (the “Company”) filed its quarterly report for the period ending March 31, 2024, detailing its financial performance and condition. Key highlights include: 1. **Financial Health**: The Company reported total assets of $87.5 million, primarily consisting of $49.2 million in investments and $38.3 million in cash and cash equivalents. Total liabilities stood at $40.9 million, with shareholders' equity at $45.2 million. 2. **Revenue and Earnings**: For Q1 2024, the Company generated $134,000 in investment income, primarily from interest and fee income. Operating expenses totaled $114,000, leading to net investment income of $47,000. The net increase in net assets from operations was $156,000. 3. **Investments**: The Company made significant investments in senior secured loans, totaling $49.1 million. The portfolio consists of 15 companies, with a weighted average annual yield on accruing debt investments of 11.1%. 4. **Cash Flow**: Net cash provided by financing activities was $46.4 million, primarily from the issuance of capital. Net cash used in operating activities was $8.2 million. 5. **Equity Transactions**: The Company issued 1.8 million Class S shares for gross proceeds of $45 million during the quarter. 6. **Future Plans**: The Company plans to commence a share repurchase program by Q3 2024, repurchasing up to 5% of outstanding shares quarterly. The report emphasizes the Company's robust investment activities, strong cash position, and plans for future shareholder returns through a repurchase program.