Private Credit Portfolio Analysis | Nuveen Churchill Private Capital Income Fund Reports Q1 2025 Results
- Editor
- May 9
- 2 min read
Whats New:
Nuveen Churchill Private Capital Income Fund reported its Q1 2025 financial results, showing significant growth in total assets and investments compared to the end of 2024. The fund's total assets increased to $1.91 billion as of March 31, 2025, up from $1.78 billion at the end of 2024. Investments owned at fair value, excluding cash equivalents, grew to $1.83 billion from $1.68 billion over the same period.
Portfolio Dynamics:
Total assets grew to $1.91 billion as of March 31, 2025, compared to $1.78 billion at the end of 2024.
Investments owned at fair value, excluding cash equivalents, increased to $1.83 billion from $1.68 billion at the end of 2024.
Cash and cash equivalents rose to $68.94 million from $66.94 million at the end of 2024.
Investment Activity:
Receivable from investment sales decreased to $750,000 from $13.45 million at the end of 2024.
Interest receivable increased to $12.22 million from $10.79 million at the end of 2024.
Payable for investments purchased rose to $35.24 million from $12.06 million at the end of 2024.
Capital Structure:
Secured debt increased to $936.53 million from $905.65 million at the end of 2024.
Stockholders' equity grew to $910.07 million from $826.14 million at the end of 2024.
Additional paid-in capital increased to $914.69 million from $824.94 million at the end of 2024.
Performance Profile:
Net cash provided by financing activities was $102.86 million for Q1 2025.
Net cash used in operating activities was $100.87 million for Q1 2025.
The fund reported a net income of $15.85 million for Q1 2025.
Risk & Quality:
The fund reported an accumulated deficit of $4.99 million as of March 31, 2025, compared to retained earnings of $863,000 at the end of 2024.
Interest payable decreased to $8.64 million from $15.67 million at the end of 2024.
Long-term notes payable for share repurchases increased to $6.10 million from $2.01 million at the end of 2024.
The Wrap:
Nuveen Churchill Private Capital Income Fund demonstrated strong growth in Q1 2025, with significant increases in total assets, investments at fair value, and stockholders' equity. The fund's secured debt and additional paid-in capital also rose, indicating increased leverage and capital inflows. However, the shift from retained earnings to an accumulated deficit suggests potential challenges in maintaining profitability. The fund's investment activity shows a dynamic portfolio with increased payables for investments purchased, potentially signaling new investment opportunities.
Comments