Private Credit Portfolio Analysis | PGIM Private Credit Fund Reports Q1 2025 Results
- Editor
- May 13
- 2 min read
Whats New:
PGIM Private Credit Fund reported its Q1 2025 financial results, showing significant growth in total assets and investments compared to the previous quarter. The fund's total assets increased to $244.94 million as of March 31, 2025, up from $217.78 million at the end of 2024. Investments owned at fair value rose to $226.80 million from $209.21 million in the same period.
Portfolio Dynamics:
Total assets grew to $244.94 million as of March 31, 2025, compared to $217.78 million at the end of 2024.
Investments owned at fair value increased to $226.80 million, up from $209.21 million at the end of 2024.
Cash and cash equivalents rose to $13.67 million from $3.74 million at the end of 2024.
Investment Activity:
Payments for purchase of investments were $28.96 million in Q1 2025.
Proceeds from disposition of investments were $12.48 million in Q1 2025.
Unrealized appreciation on investments was $0.71 million in Q1 2025.
Capital Structure:
Line of credit increased to $96.55 million from $94.15 million at the end of 2024.
Stockholders' equity grew to $146.11 million from $121.59 million at the end of 2024.
Additional paid-in capital increased to $144.69 million from $120.29 million at the end of 2024.
Performance Profile:
Net profit for Q1 2025 was $4.36 million.
Retained earnings grew to $1.41 million from $1.29 million at the end of 2024.
Proceeds from issuance of common stock were $20.28 million in Q1 2025.
Risk & Quality:
Unrealized depreciation on foreign currency forward contracts increased to $0.38 million from $0.01 million at the end of 2024.
Distribution payable increased to $1.41 million from $1.31 million at the end of 2024.
Interest payable decreased slightly to $0.24 million from $0.25 million at the end of 2024.
The Wrap:
PGIM Private Credit Fund demonstrated strong growth in Q1 2025, with significant increases in total assets, investments at fair value, and stockholders' equity. The fund's cash position improved substantially, and it raised additional capital through common stock issuance. While the fund increased its line of credit, it also saw growth in its investment portfolio and realized a profit for the quarter. However, the increase in unrealized depreciation on foreign currency forward contracts suggests some exposure to currency risk.
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