Private Credit Portfolio Analysis | Antares Strategic Credit Fund Reports Q1 2025 Results
- Editor
- May 14
- 2 min read
Whats New:
Antares Strategic Credit Fund reported its Q1 2025 financial results, showing significant growth in assets and stockholders' equity compared to the previous quarter. The fund's total assets increased to $2.69 billion as of March 31, 2025, up from $2.23 billion at the end of 2024. The fund also reported an increase in long-term debt and a slight decrease in net asset value per share.
Portfolio Dynamics:
Total assets grew to $2.69 billion as of March 31, 2025, compared to $2.23 billion at the end of 2024.
Investments owned at fair value increased to $2.59 billion, up from $2.13 billion at the end of 2024.
Cash and cash equivalents rose to $86.50 million from $79.19 million at the end of 2024.
Investment Activity:
Foreign currency contract asset fair value increased to $3.35 million from $2.57 million at the end of 2024.
Interest receivable grew to $11.39 million from $10.48 million at the end of 2024.
Receivable from investment sales decreased to $0 from $6.78 million at the end of 2024.
Capital Structure:
Long-term debt increased to $1.12 billion from $907.74 million at the end of 2024.
Stockholders' equity grew to $1.46 billion from $1.25 billion at the end of 2024.
The fund issued additional common stock, with the value increasing to $58 million from $49 million at the end of 2024.
Performance Profile:
Net asset value per share decreased to $25.42 as of March 31, 2025, compared to $25.53 at the end of 2024.
Retained earnings decreased to $5.86 million from $12.42 million at the end of 2024.
Additional paid-in capital increased to $1.46 billion from $1.23 billion at the end of 2024.
Risk & Quality:
The fund reported an incentive fee payable of $4.63 million, up from $2.16 million at the end of 2024.
Management fee payable increased to $4.12 million from $1.77 million at the end of 2024.
Distribution payable rose to $34.40 million from $32.22 million at the end of 2024.
The Wrap:
Antares Strategic Credit Fund demonstrated strong growth in Q1 2025, with significant increases in total assets, investments at fair value, and stockholders' equity. However, the fund also saw an increase in long-term debt and a slight decrease in net asset value per share. The growth in assets was accompanied by higher management and incentive fees, reflecting the expanded scale of operations. While the fund's overall financial position strengthened, the decrease in retained earnings and NAV per share may warrant attention in future quarters.
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