Wed, Aug 21, 6:29 PM (146 days ago)
Nuveen Churchill Private Credit Fund's Q2 2024 report reveals a net asset value (NAV) of $210,588,000 as of July 31, 2024, with a NAV per share of $25.07. The fund reported $2,135,000 in investment income, primarily from interest, and net investment income of $1,032,000. Total expenses for the quarter were $1,244,000, including $933,000 in interest expenses related to secured borrowings of $339,637,000. The fund's portfolio consists mainly of first-lien term loans, valued at $526,556,000, with a weighted average yield of 11.13%. The company is subject to various market risks, including interest rate volatility, which can impact net income. Notably, all debt investments are floating-rate, which may affect cash flows if interest rates fluctuate. The fund has entered a management and incentive fee waiver agreement, effective until October 31, 2024, to bolster financial stability during its initial operational phase. Future operations may be influenced by economic conditions, particularly those affecting the middle market where the fund invests. Overall, the fund appears to be in a solid position to navigate its early growth phase.