Private Credit Portfolio Analysis | Muzinich Corporate Lending Income Fund Reports Q1 2025 Results
- Editor
- May 13
- 2 min read
Whats New:
Muzinich Corporate Lending Income Fund reported its Q1 2025 financial results, showing growth in total assets and net asset value per share compared to the end of 2024. The fund's total assets increased to $99.92 million as of March 31, 2025, up from $101.01 million at the end of 2024. The net asset value per share rose to $1,019.19, compared to $1,006.39 at the end of the previous quarter.
Portfolio Dynamics:
Total assets slightly decreased to $99.92 million as of March 31, 2025, compared to $101.01 million at the end of 2024.
Investments at fair value decreased to $79.04 million from $83.22 million at the end of 2024.
Cash and cash equivalents increased to $18.49 million from $14.92 million at the end of 2024.
Investment Activity:
The fund purchased and drew down $15.83 million in investments during Q1 2025.
Proceeds from sale, maturity, and collection of long-term investments were $20.31 million in Q1 2025.
Interest receivable and other assets decreased to $2.39 million from $2.87 million at the end of 2024.
Capital Structure:
Stockholders' equity increased to $96.17 million from $92.39 million at the end of 2024.
The fund issued additional common stock, with the value increasing to $94 from $92 at the end of 2024.
Total liabilities decreased to $3.75 million from $8.62 million at the end of 2024.
Performance Profile:
Net asset value per share increased to $1,019.19 as of March 31, 2025, compared to $1,006.39 at the end of 2024.
Net investment income for Q1 2025 was $1.22 million.
The fund reported net realized and unrealized gains of $0.32 million for Q1 2025.
Risk & Quality:
The fund reported an incentive fee payable of $105,544, up from $74,854 at the end of 2024.
Management fee payable increased to $513,397 from $228,636 at the end of 2024.
Security owned and sold not yet purchased decreased to $2.34 million from $4.63 million at the end of 2024.
The Wrap:
Muzinich Corporate Lending Income Fund demonstrated modest growth in Q1 2025, with increases in net asset value per share and stockholders' equity. While total assets slightly decreased, the fund saw improvements in cash position and investment activity. The increase in management and incentive fees payable suggests higher costs associated with the fund's operations, while the decrease in total liabilities indicates improved financial health.
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