Private Credit Portfolio Analysis | Stone Point Credit Corp Reports FY 2024 Results
- Editor
- Mar 24
- 2 min read
Whats New:
Stone Point Credit Corp reported its fiscal year 2024 financial results, showing significant growth in total assets and investments. The fund's total assets increased to $2.60 billion as of December 31, 2024, up from $2.07 billion at the end of 2023. Investments owned at fair value grew to $2.50 billion from $2.00 billion in the same period.
Portfolio Dynamics:
Total assets grew to $2.60 billion as of December 31, 2024, compared to $2.07 billion at the end of 2023.
Investments owned at fair value increased to $2.50 billion, up from $2.00 billion at the end of 2023.
Cash and cash equivalents rose to $51.76 million from $41.63 million at the end of 2023.
Investment Activty:
Interest receivable increased to $23.45 million from $21.42 million at the end of 2023.
Unbilled contracts receivable grew significantly to $15.47 million from $3.55 million at the end of 2023.
Accounts receivable noncurrent accrued interest after allowance for credit loss rose to $2.25 million from $1.20 million at the end of 2023.
Capital Structure:
Line of credit increased to $895.65 million from $837.60 million at the end of 2023.
Notes payable grew to $422.27 million from $223.66 million at the end of 2023.
Stockholders' equity increased to $1.25 billion from $991.42 million at the end of 2023.
Performance Profile:
Net asset value per share increased to $19.85 as of December 31, 2024, compared to $19.71 at the end of 2023.
Retained earnings grew to $393,000 from a deficit of $7.98 million at the end of 2023.
Additional paid-in capital increased to $1.25 billion from $999.35 million at the end of 2023.
Risk & Quality:
Management fee payable increased to $8.01 million from $6.53 million at the end of 2023.
Interest payable current and noncurrent rose to $17.33 million from $5.14 million at the end of 2023.
Total liabilities increased to $1.35 billion from $1.08 billion at the end of 2023.
The Wrap:
Stone Point Credit Corp demonstrated strong growth in fiscal year 2024, with significant increases in total assets, investments at fair value, and stockholders' equity. The fund's net asset value per share improved slightly, reflecting positive performance. However, the increase in liabilities, particularly in line of credit and notes payable, suggests higher leverage associated with the fund's expanded operations and investment activities.
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