Private Credit Portfolio Analysis | Jefferies Credit Partners BDC Inc. Reports FY 2024 Results
- Editor
- Mar 25
- 2 min read
Whats New:
Jefferies Credit Partners BDC Inc. reported its fiscal year 2024 financial results, showing significant growth in assets and investments compared to the previous year. The fund's total assets increased to $1.13 billion as of December 31, 2024, up from $1.07 billion at the end of 2023. Net income for the year was $25.9 million, compared to $4.6 million for the period from December 4, 2023 (inception) to December 31, 2023.
Portfolio Dynamics:
Total assets grew to $1.13 billion as of December 31, 2024, compared to $1.07 billion at the end of 2023.
Investments at fair value increased to $1.09 billion, up from $990 million at the end of 2023.
Cash and cash equivalents decreased to $8 million from $71.9 million at the end of 2023.
Investment Activity:
Payments for purchase of investments were $540.6 million in 2024, compared to $252.6 million in the previous period.
Proceeds from disposition of investments were $7.6 million in 2024, up from $12.4 million in the previous period.
Non-cash purchases of investments in restructuring totaled $11.9 million in 2024.
Capital Structure:
Long-term debt increased to $614.3 million from $327.3 million at the end of 2023.
Total stockholders' equity grew to $500.5 million from $735.5 million at the end of 2023.
The fund issued additional common stock, with proceeds of $187.5 million in 2024.
Performance Profile:
Net income for the year was $25.9 million, compared to $4.6 million for the previous period.
Realized investment losses were $5.5 million in 2024, compared to gains of $592,000 in the previous period.
Unrealized gains on investments were $2.1 million in 2024, down from $3.2 million in the previous period.
Risk & Quality:
Management fee payable increased to $392,000 from $51,000 at the end of 2023.
Interest payable rose to $7.5 million from $856,000 at the end of 2023.
The fund reported $16.1 million in restricted cash related to its senior secured credit facility.
The Wrap:
Jefferies Credit Partners BDC Inc. demonstrated strong growth in fiscal year 2024, with significant increases in total assets and investments at fair value. The fund's net income showed substantial improvement, reflecting positive performance. However, the increase in long-term debt and decrease in cash and cash equivalents suggest a more leveraged position. The fund's investment activity remained robust, with substantial payments for new investments, indicating an active portfolio management strategy.
Comments