Wed, Nov 13, 7:26 PM (93 days ago)
For the quarter ended September 30, 2024, WTI Fund XI, Inc. (WTI) reported total assets of $27,594,658, reflecting a significant increase from the prior year as the fund commenced investment operations on June 26, 2024. The fund's investments primarily consist of loans valued at $14,144,135, with cash and cash equivalents of $11,290,185, representing 103.76% of net assets. Revenue for the quarter included $455,634 from interest on loans, while total operating expenses reached $1,522,764, leading to a net investment loss of $1,451,078. The fund's management fees were significant at $1,402,657, reflecting the ongoing cost structure following its recent establishment. The fund's liabilities included $15,000,000 in borrowings under a new debt facility, with an asset coverage ratio of 172%. The fund also has unexpired unfunded commitments of $8.4 million. Future operations may be impacted by macroeconomic factors such as inflation and interest rate volatility, which could affect the borrowers' credit quality and the fund's overall performance. The fund anticipates generating cash through further contributions from its parent company and scheduled loan repayments, ensuring liquidity for ongoing operations.