Private Credit Portfolio Analysis | PennantPark Investment Corp Reports Q1 2025 Results
- Editor
- Feb 10
- 2 min read
Whats New:
PennantPark Investment Corp reported its Q1 2025 financial results, showing growth in total assets and stockholders' equity compared to the previous quarter. The fund's total assets increased to $1.41 billion as of December 31, 2024, up from $1.39 billion at the end of September 2024. Net asset value per share also saw a slight increase to $7.57 from $7.56 in the previous quarter.
Portfolio Dynamics:
Total assets grew to $1.41 billion as of December 31, 2024, compared to $1.39 billion at the end of September 2024.
Investments owned at fair value decreased to $1.30 billion from $1.33 billion in the previous quarter.
Cash and cash equivalents rose to $55.85 million from $49.86 million at the end of September 2024.
Investment Activity:
Receivable for investments sold increased significantly to $47.23 million from $0 at the end of September 2024.
Interest receivable slightly decreased to $5.23 million from $5.26 million in the previous quarter.
Distribution receivable decreased marginally to $5.36 million from $5.42 million at the end of September 2024.
Capital Structure:
Line of credit decreased slightly to $460.03 million from $460.36 million at the end of September 2024.
Stockholders' equity grew to $494.32 million from $493.91 million in the previous quarter.
Total liabilities increased to $917.77 million from $895.18 million at the end of September 2024.
Performance Profile:
Net asset value per share increased slightly to $7.57 as of December 31, 2024, compared to $7.56 at the end of September 2024.
Retained earnings deficit decreased to $249.71 million from $250.13 million in the previous quarter.
Additional paid-in capital remained unchanged at $743.97 million.
Risk & Quality:
Payable for investments purchased increased to $125.05 million from $100.10 million at the end of September 2024.
Management fee payable decreased slightly to $4.27 million from $4.30 million in the previous quarter.
Incentive fee payable decreased to $2.76 million from $3.06 million at the end of September 2024.
The Wrap:
PennantPark Investment Corp demonstrated modest growth in Q1 2025, with increases in total assets and stockholders' equity. The fund's net asset value per share improved slightly, reflecting stable performance. However, the decrease in investments owned at fair value and the significant increase in payable for investments purchased suggest a shift in the fund's investment strategy or market conditions. The increase in total liabilities also indicates potential changes in the fund's financial structure or increased investment activities.
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