Private Credit Portfolio Analysis | NMF SLF I Reports Q1 2025 Results
- Editor
- May 14
- 2 min read
Whats New:
NMF SLF I, Inc. reported its Q1 2025 financial results, showing a slight decrease in total assets and stockholders' equity compared to the previous quarter. The fund's total assets decreased to $1.47 billion as of March 31, 2025, down from $1.49 billion at the end of 2024. The fund also reported a decrease in long-term debt and a slight decline in net asset value per share.
Portfolio Dynamics:
Total assets decreased to $1.47 billion as of March 31, 2025, compared to $1.49 billion at the end of 2024.
Investments owned at fair value decreased to $1.42 billion, down from $1.45 billion at the end of 2024.
Cash and cash equivalents increased to $44.43 million from $20.40 million at the end of 2024.
Investment Activity:
Receivable from investment sales decreased to $0 from $10.30 million at the end of 2024.
Payable for investment purchases increased to $5.24 million from $0 at the end of 2024.
Other assets increased to $875,000 from $485,000 at the end of 2024.
Capital Structure:
Long-term debt decreased to $457.04 million from $496.93 million at the end of 2024.
Stockholders' equity decreased to $981.07 million from $983.73 million at the end of 2024.
The fund's line of credit decreased to $463.90 million from $504.40 million at the end of 2024.
Performance Profile:
Net asset value per share decreased to $10.41 as of March 31, 2025, compared to $10.44 at the end of 2024.
Retained earnings decreased to -$2.63 million from $26,000 at the end of 2024.
Net income for Q1 2025 was $21.84 million, compared to $31.63 million in Q1 2024.
Risk & Quality:
The fund reported a decrease in interest payable to $2.72 million from $2.91 million at the end of 2024.
Management fee payable decreased to $2.29 million from $2.36 million at the end of 2024.
Deferred finance costs decreased to $6.86 million from $7.47 million at the end of 2024.
The Wrap:
NMF SLF I, Inc. demonstrated a slight contraction in Q1 2025, with decreases in total assets, investments at fair value, and stockholders' equity. The fund's net asset value per share also declined marginally. However, the significant reduction in long-term debt and increase in cash and cash equivalents suggest a more conservative financial position. The decrease in net income compared to the same quarter last year indicates potential challenges in the current market environment.
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