Private Credit Portfolio Analysis | Brightwood Capital Corp I Reports Q1 2025 Results
- Editor
- May 13
- 2 min read
Whats New:
Brightwood Capital Corp I reported its Q1 2025 financial results, showing growth in total assets and net asset value per share compared to the previous quarter. The fund's total assets increased to $844.6 million as of March 31, 2025, up from $809.3 million at the end of 2024, while net asset value per share rose to $10.63 from $10.33.
Portfolio Dynamics:
Total assets grew to $844.6 million as of March 31, 2025, compared to $809.3 million at the end of 2024, a 4.4% increase.
Investments owned at fair value increased to $800.8 million, up from $776.2 million at the end of 2024.
Cash and cash equivalents rose to $30.3 million from $21.4 million at the end of 2024.
Investment Activity:
Interest receivable increased to $8.1 million from $6.8 million at the end of 2024.
Deferred finance costs, net, grew to $5.4 million from $4.9 million at the end of 2024.
The fund made payments for purchase of investments of $39.0 million during Q1 2025.
Capital Structure:
Line of credit increased to $408.6 million from $373.4 million at the end of 2024.
Stockholders' equity grew to $426.0 million from $411.7 million at the end of 2024.
The fund issued additional common stock, with the value increasing to $401,000 from $399,000 at the end of 2024.
Performance Profile:
Net asset value per share increased to $10.63 as of March 31, 2025, compared to $10.33 at the end of 2024.
Retained earnings grew to $16.9 million from $4.8 million at the end of 2024.
Additional paid-in capital increased to $408.7 million from $406.6 million at the end of 2024.
Risk & Quality:
Total liabilities increased to $418.7 million from $397.5 million at the end of 2024.
Interest payable decreased slightly to $7.2 million from $7.3 million at the end of 2024.
Management fee payable increased to $1.7 million from $1.6 million at the end of 2024.
The Wrap:
Brightwood Capital Corp I demonstrated growth in Q1 2025, with increases in total assets, investments at fair value, and stockholders' equity. The fund's net asset value per share improved, reflecting positive performance. However, the increase in liabilities, particularly the line of credit, suggests higher leverage. The fund's investment activity and capital structure changes indicate ongoing portfolio management and fundraising efforts.
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