Private Credit Portfolio Analysis | Manulife Private Credit Fund Reports Q1 2025 Results
- Editor
- May 13
- 2 min read
Whats New:
Manulife Private Credit Fund reported its Q1 2025 financial results, showing significant growth in assets and investments compared to the previous quarter. The fund's total assets increased to $194.9 million as of March 31, 2025, up from $169.6 million at the end of 2024. The net asset value per share rose to $20.90, and the fund increased its line of credit to $63.8 million.
Portfolio Dynamics:
Total assets grew to $194.9 million as of March 31, 2025, compared to $169.6 million at the end of 2024.
Investments owned at fair value increased to $191.7 million, up from $165.8 million at the end of 2024.
Cash and cash equivalents decreased to $414,776 from $753,840 at the end of 2024.
Investment Activity:
Receivable from investment sales decreased to $43,720 from $57,924 at the end of 2024.
Dividend and interest receivable decreased to $984,985 from $1,109,924 at the end of 2024.
Other receivables decreased to $0 from $23,495 at the end of 2024.
Capital Structure:
Line of credit increased to $63.8 million from $53.2 million at the end of 2024.
Net assets grew to $127.0 million from $111.5 million at the end of 2024.
Common stock shares outstanding increased to 6,076,649 from 5,360,173 at the end of 2024.
Performance Profile:
Net asset value per share increased to $20.90 as of March 31, 2025, compared to $20.80 at the end of 2024.
Retained earnings deficit increased to $656,938 from $100,090 at the end of 2024.
Additional paid-in capital increased to $126.4 million from $111.4 million at the end of 2024.
Risk & Quality:
Incentive fee payable increased to $593,668 from $469,067 at the end of 2024.
Management fee payable increased to $20,412 from $0 at the end of 2024.
Interest payable decreased to $880,728 from $906,329 at the end of 2024.
The Wrap:
Manulife Private Credit Fund demonstrated strong growth in Q1 2025, with significant increases in total assets, investments at fair value, and net assets. The fund's net asset value per share also improved slightly. 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 increase in retained earnings deficit, may indicate increased investment activity and potential challenges in managing expenses.
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