Private Credit Portfolio Analysis | Kennedy Lewis Capital Co Reports FY 2024 Results
- Editor
- Mar 26
- 2 min read
Whats New:
Kennedy Lewis Capital Co reported its FY 2024 financial results, showing significant growth in assets and investments compared to the previous year. The fund's total assets increased to $819.1 million as of December 31, 2024, up from $437.2 million at the end of 2023. Investments owned at fair value grew to $756.5 million, a substantial increase from $352.4 million in the previous year.
Portfolio Dynamics:
Total assets grew to $819.1 million as of December 31, 2024, compared to $437.2 million at the end of 2023.
Investments owned at fair value increased to $756.5 million, up from $352.4 million at the end of 2023.
Cash and cash equivalents decreased to $13.4 million from $25.2 million at the end of 2023.
Investment Activity:
Receivable for investments sold increased to $14.3 million from $4.2 million at the end of 2023.
The fund reported $319,195 in derivative assets, compared to zero at the end of 2023.
Interest receivable grew to $5.4 million from $3.2 million at the end of 2023.
Capital Structure:
Line of credit increased to $342.7 million from $195.0 million at the end of 2023.
Stockholders' equity grew to $447.1 million from $221.6 million at the end of 2023.
The fund issued additional common stock, with the value increasing to $221,062 from $107,853 at the end of 2023.
Performance Profile:
Net income for FY 2024 was $32.9 million, compared to $20.4 million in FY 2023.
Retained earnings decreased to $2.9 million from $7.6 million at the end of 2023.
Additional paid-in capital increased to $443.9 million from $213.9 million at the end of 2023.
Risk & Quality:
The fund reported an income incentive fee payable of $1.4 million, up from $652,362 at the end of 2023.
Management fee payable increased to $1.3 million from $690,008 at the end of 2023.
Interest and credit facility fee payable rose to $4.0 million from $3.1 million at the end of 2023.
The Wrap:
Kennedy Lewis Capital Co demonstrated strong growth in FY 2024, with significant increases in total assets, investments at fair value, and stockholders' equity. The fund's net income also improved, reflecting positive performance. However, the increase in line of credit and various fee payables suggests higher costs associated with the fund's expanded operations and investment activities. The decrease in cash and cash equivalents, along with the reduction in retained earnings, may indicate increased investment activity and distribution of profits.
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