Private Credit Portfolio Analysis | Barings Private Credit Corp Reports Q1 2025 Results
- Editor
- May 8
- 2 min read
Whats New:
Barings Private Credit Corp reported its Q1 2025 financial results, showing significant growth in assets compared to the previous quarter. The fund's total assets increased to $3.71 billion as of March 31, 2025, up from $3.33 billion at the end of 2024. The net asset value per share slightly decreased to $20.75 from $20.80 at the end of the previous quarter.
Portfolio Dynamics:
Total assets grew to $3.71 billion as of March 31, 2025, compared to $3.33 billion at the end of 2024.
Investments owned at fair value increased to $3.43 billion, up from $3.09 billion at the end of 2024.
Cash and cash equivalents rose to $213.38 million from $131.07 million at the end of 2024.
Investment Activty:
Payments for purchase of investments increased to $336.18 million in Q1 2025 from $277.58 million in Q1 2024.
Proceeds from disposition of investments decreased to $116.58 million in Q1 2025 from $168.75 million in Q1 2024.
Receivable from investment sales decreased to $1.82 million from $3.02 million at the end of 2024.
Capital Structure:
Total liabilities increased to $1.53 billion from $1.35 billion at the end of 2024.
Line of credit increased to $671.53 million from $594.36 million at the end of 2024.
Stockholders' equity grew to $2.18 billion from $1.98 billion at the end of 2024.
Performance Profile:
Net asset value per share decreased slightly to $20.75 as of March 31, 2025, compared to $20.80 at the end of 2024.
Net income for Q1 2025 was $55.44 million, compared to $51.40 million in Q1 2024.
Interest and fee income loan origination fee received increased to $9.51 million from $6.10 million in Q1 2024.
Risk & Quality:
Derivative assets decreased to $2.30 million from $41.18 million at the end of 2024.
Derivative liabilities decreased to $9.75 million from $12.88 million at the end of 2024.
Payable for investment purchases significantly increased to $95.53 million from $2.58 million at the end of 2024.
The Wrap:
Barings Private Credit Corp demonstrated strong growth in Q1 2025, with significant increases in total assets, investments at fair value, and stockholders' equity. The fund's investment activity remained robust, with increased purchases of investments. However, the slight decrease in net asset value per share and the significant increase in payables for investment purchases suggest potential challenges in maintaining performance while expanding the portfolio.
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