10-Q - Lord Abbett Private Credit Fund (0002008748) (Filer)

Mon, Nov 18, 4:42 PM (56 days ago)

**Lord Abbett Private Credit Fund (LAPCF)** reported its financial results for the quarter ended September 30, 2024, reflecting its initial operations since February 23, 2024. The fund's total assets reached **$320,242,000**, with net assets of **$128,293,000** and a net asset value (NAV) per share of **$25.25**. Investment income totaled **$7,274,000** for the quarter, primarily driven by interest income of **$7,035,000**. Total expenses were **$4,150,000**, leading to a net investment income of **$3,696,000**. The fund reported a net increase in net assets resulting from operations of **$4,032,000**, with realized and unrealized gains contributing **$336,000**. The fund's portfolio consists entirely of first lien secured debt, valued at **$313,562,000**, with no non-accrual loans. The fund has leveraged its operations, with outstanding debt of **$189,583,000** at a weighted average interest rate of **7.71%**. Cash flow from operations was negative due to significant investment activities, but financing activities generated **$310,569,000**. Looking ahead, the fund is positioned to continue generating income through its investments in U.S. middle-market companies, while navigating market risks and interest rate fluctuations.