Crescent Private Credit Income Corp. Sees 0.5% Drop in June NAV

Crescent Private Credit Income Corp. reported a 0.5% decline in net asset value (NAV) for June 2024, alongside declared distributions and continued portfolio growth.

August 20, 2024

Crescent Private Credit Income Corp., a non-traded perpetual-life BDC launched by Crescent Capital Group in fall 2023, reported a slight decrease in its NAV as of June 30, 2024. The BDC's total NAV fell by nearly 0.5%, from $161 million in May to approximately $160.2 million in June.

The monthly NAV per share for Class I common stock was set at $26.95, down 0.52% from the previous month’s $27.09. The BDC also declared both regular and special distributions for its Class I shares, totaling $0.23 per share, payable to shareholders of record as of July 31 and scheduled for distribution on or around August 27, 2024.

As of the end of June, Crescent Private Credit Income Corp. reported the fair value of its portfolio investments at approximately $228.7 million, with principal debt outstanding of $79.5 million, resulting in a debt-to-equity ratio of about 0.50x.

The BDC focuses on providing investors with access to a diversified portfolio primarily composed of sponsor-backed, directly originated assets, including debt securities and related equity investments in U.S. middle-market companies. Since its inception, the fund has raised approximately $153.2 million through the issuance of nearly 6 million Class I shares, although it has not yet sold any Class S or Class D shares.