Crescent Private Credit BDC Sees 0.7% NAV Increase in July

Crescent Private Credit BDC reported a nearly 0.7% NAV increase in July 2024, declared distributions, raised $7.4 million in its public offering, and amended its lending agreement with J.P. Morgan Chase.

August 30, 2024

Crescent Private Credit Income Corp., a non-traded business development company launched by Crescent Capital Group, reported a nearly 0.7% increase in its net asset value (NAV), reaching approximately $161.3 million as of July 31, 2024. The NAV per share for Class I shares slightly decreased by 0.22% to $26.89.

In addition, the BDC declared regular and special distributions totaling $0.23 per share, payable to shareholders of record as of August 31, with payments scheduled for September 27. As of July's end, the fund's portfolio had a fair value of $258.2 million with a debt-to-equity ratio of approximately 0.65x.

Crescent Private Credit Income Corp held the first closing in its ongoing public offering on August 1, raising $7.4 million and issuing 274,000 Class I shares. The BDC also announced amendments to its lending agreement with J.P. Morgan Chase Bank, which included a reduction in the interest rate on its funding facility and adjustments to commitment fees.

Crescent Private Credit Income Corp. focuses on providing access to a diversified portfolio of sponsor-backed, directly originated assets, primarily targeting U.S. middle-market companies.