Investcorp Credit Management BDC Q3: Solid Performance Amidst Market Headwinds
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Investcorp Credit Management BDCs third quarter earnings showcase resilience amidst market challenges. Net asset value surged to $5.55 per share, with a $2.3 million net investment income, or $0.16 per share. They deployed $13.1 million across six companies, yielding an average of 10.7%. Notable investments include Argano, Likewize, and Integrity Marketing. Two investments were cashed out for $13.4 million, yielding near 12% IRR. Portfolio fair value reached $190.1 million, median EBITDA rose to $61 million, leverage dropped to 4.7x, and non-accruals eased to 4.8%. The company plans to target core middle-market deals and optimize expenses for efficiency.
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