Private Credit Portfolio Analysis | Senior Credit Investments, LLC Reports FY 2024 Results
- Editor
- Mar 25
- 2 min read
Whats New:
Senior Credit Investments, LLC reported its fiscal year 2024 financial results, showing significant growth in assets and net income compared to the previous period. The fund's total assets increased to $8.86 billion as of December 31, 2024, up from $39.56 million at the end of 2023. Net income for the year was $9.11 million, compared to $781,000 for the period from December 4, 2023 to December 31, 2023.
Portfolio Dynamics:
Total assets grew to $8.86 billion as of December 31, 2024, compared to $39.56 million at the end of 2023.
Cash and cash equivalents decreased to $2.16 million from $39.09 million at the end of 2023.
Restricted cash increased to $6.70 million from $468,000 at the end of 2023.
Investment Activity:
Payments for purchase of investments totaled $214.49 million in 2024, compared to $110.64 million in the previous period.
Proceeds from disposition of investments were $3.20 million in 2024, up from $5.44 million in the previous period.
The fund reported $865,000 in unrealized gains on investments in 2024, compared to $1.39 million in the previous period.
Capital Structure:
Long-term debt increased to $152.71 million in 2024 from $143.28 million in the previous period.
The fund issued $75 million in common stock in 2024, compared to $81 million in the previous period.
Distributions payable increased to $1.89 million in 2024 from $0 in the previous period.
Performance Profile:
Net income for the year was $9.11 million, compared to $781,000 for the period from December 4, 2023 to December 31, 2023.
The fund paid $9.67 million in dividends in 2024, compared to $0 in the previous period.
Interest and dividend income (operating paid in kind) increased to $417,000 in 2024 from $0 in the previous period.
Risk & Quality:
The fund reported $2.39 million in realized investment losses in 2024, compared to $259,000 in gains in the previous period.
Amortization of deferred charges increased to $521,000 in 2024 from $36,000 in the previous period.
Interest paid increased to $5.95 million in 2024 from $47,000 in the previous period.
The Wrap:
Senior Credit Investments, LLC demonstrated substantial growth in fiscal year 2024, with significant increases in total assets and net income. The fund's investment activity expanded considerably, as evidenced by the increase in payments for purchases of investments. However, the fund also faced challenges, including realized investment losses and increased interest payments. The capital structure saw changes with increased long-term debt and new common stock issuance, while the fund began paying dividends, indicating a shift in its financial strategy and maturity.
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