Private Credit Portfolio Analysis | Muzinich Corporate Lending Income Fund Reports FY 2024 Results
- Editor
- Mar 27
- 2 min read
Whats New:
Muzinich Corporate Lending Income Fund has reported its fiscal year 2024 financial results, showing significant growth in assets and stockholders' equity. The fund's total assets increased to $101.01 million as of December 31, 2024, up from $1,000 at the end of 2023. The fund's net asset value per share rose to $1,006.39, compared to $1,000 at the end of the previous year.
Portfolio Dynamics:
Total assets grew to $101.01 million as of December 31, 2024, compared to $1,000 at the end of 2023.
Investments at fair value increased to $83.22 million, up from zero at the end of 2023.
Cash and cash equivalents rose to $14.92 million from $1,000 at the end of 2023.
Investment Activity:
The fund reported $2.87 million in interest receivable and other assets, compared to zero at the end of 2023.
Purchases and drawdowns of investments totaled $226.84 million during the fiscal year 2024.
Proceeds from sale, maturity, and collection of long-term investments amounted to $144.71 million.
Capital Structure:
Stockholders' equity grew to $92.39 million from $1,000 at the end of 2023.
The fund issued additional common stock, with the value increasing to $92,000 from zero at the end of 2023.
Additional paid-in capital increased to $91.89 million from $1,000 at the end of 2023.
Performance Profile:
Net asset value per share increased to $1,006.39 as of December 31, 2024, compared to $1,000 at the end of 2023.
Retained earnings grew to $503,312 from zero at the end of 2023.
The fund reported net income of $2.85 million for the fiscal year 2024.
Risk & Quality:
The fund reported $4.63 million in securities sold not yet purchased, up from zero at the end of 2023.
Management fee payable increased to $228,636 from zero at the end of 2023.
Incentive fee payable rose to $74,854 from zero at the end of 2023.
The Wrap:
Muzinich Corporate Lending Income Fund demonstrated substantial growth in its first full fiscal year of operations, with significant increases in total assets, investments at fair value, and stockholders' equity. The fund's net asset value per share also improved, reflecting positive performance. However, the increase in various fee payables and securities sold not yet purchased suggests higher costs and potential risks associated with the fund's expanded operations and investment activities.
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