Wed, Aug 14, 9:22 PM (153 days ago)
For the quarter ended June 30, 2024, Overland Advantage reported total assets of $366,383,000, primarily driven by non-controlled investments valued at $344,676,000. The company generated investment income of $3,393,000, with a net investment loss of $578,000 due to unrealized depreciation of $2,165,000. Total expenses amounted to $5,111,000, with significant contributions from interest costs and management fees. The net asset value per share decreased slightly to $24.93 from $25.00. Cash flow analysis revealed a net cash outflow from operating activities of $179,550,000, largely due to significant investments made during the quarter. The company also raised approximately $194,000,000 through the issuance of common shares. As of June 30, 2024, the company had no outstanding borrowings but had a revolving credit facility available for future use. Management highlighted the potential impact of rising interest rates on investment returns and the importance of maintaining a diversified portfolio of middle-market debt investments. Future operations may be influenced by economic conditions and capital market trends, with a focus on leveraging existing commitments to enhance investment opportunities.