Private Credit Portfolio Analysis | Chicago Atlantic BDC Reports FY 2024 Results
- Editor
- Mar 31
- 2 min read
Whats New:
Chicago Atlantic BDC reported its FY 2024 financial results, showing significant growth in total assets and investments at fair value. The fund's total assets increased to $309.56 million as of December 31, 2024, up from $88.58 million at the end of 2023. Net Asset Value (NAV) per share decreased to $13.20 from $13.77 at the end of the previous year.
Portfolio Dynamics:
Total assets grew to $309.56 million as of December 31, 2024, compared to $88.58 million at the end of 2023.
Cash and cash equivalents decreased to $23.93 million from $32.61 million at the end of 2023.
Receivable for investments sold increased to $4.12 million from $0 at the end of 2023.
Investment Activty:
Interest receivable increased to $3.58 million from $1.76 million at the end of 2023.
Other receivables rose to $2.36 million from $0 at the end of 2023.
Prepaid expenses and other assets grew to $321,108 from $89,276 at the end of 2023.
Capital Structure:
Total liabilities increased to $8.40 million from $3.02 million at the end of 2023.
Stockholders' equity grew to $301.16 million from $85.55 million at the end of 2023.
Common stock value increased to $228,204 from $62,149 at the end of 2023.
Performance Profile:
Net Asset Value (NAV) per share decreased to $13.20 as of December 31, 2024, compared to $13.77 at the end of 2023.
Net income for the year was $9.62 million, up from $7.34 million in 2023.
Realized loss on investments was $74,483, compared to a loss of $210,767 in 2023.
Risk & Quality:
Income-based incentive fee payable increased to $2.00 million from $1.51 million at the end of 2023.
Management fee payable rose to $758,362 from $257,121 at the end of 2023.
Capital gains incentive fee payable increased to $121,887 from $87,583 at the end of 2023.
The Wrap:
Chicago Atlantic BDC demonstrated substantial growth in FY 2024, with significant increases in total assets and stockholders' equity. However, the fund's NAV per share decreased, and there was an increase in various fee payables. The fund's investment portfolio expanded, as evidenced by higher interest receivables and other receivables, while maintaining a strong cash position despite a decrease from the previous year.
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