Private Credit Portfolio Analysis | Star Mountain Lower Middle-Market Capital Corp Reports Q1 2025 Results
- Editor
- May 15
- 2 min read
Whats New:
Star Mountain Lower Middle-Market Capital Corp reported its Q1 2025 financial results, showing a slight increase in total assets to $391.38 million as of March 31, 2025, up from $388.07 million at the end of 2024. The fund's net asset value per share increased to $24.55, compared to $24.43 at the end of the previous quarter.
Portfolio Dynamics:
Total assets grew to $391.38 million as of March 31, 2025, compared to $388.07 million at the end of 2024.
Investments owned at fair value slightly decreased to $375.82 million from $377.64 million at the end of 2024.
Cash and cash equivalents increased to $4.58 million from $4.03 million at the end of 2024.
Investment Activity:
Receivable from investment sales increased significantly to $4.31 million from $0 at the end of 2024.
Interest receivable rose to $4.65 million from $3.89 million at the end of 2024.
Paydown receivable decreased to $0 from $341,471 at the end of 2024.
Capital Structure:
Convertible notes payable decreased slightly to $122.30 million from $122.50 million at the end of 2024.
Stockholders' equity decreased to $238.36 million from $240.83 million at the end of 2024.
Subscriptions received in advance increased to $8.77 million from $0 at the end of 2024.
Performance Profile:
Net asset value per share increased to $24.55 as of March 31, 2025, compared to $24.43 at the end of 2024.
Retained earnings deficit decreased to $4.65 million from $5.80 million at the end of 2024.
Additional paid-in capital decreased to $243.00 million from $246.62 million at the end of 2024.
Risk & Quality:
Incentive fees payable increased to $3.68 million from $2.81 million at the end of 2024.
Deferred income tax liabilities increased slightly to $6.14 million from $6.09 million at the end of 2024.
Other liabilities rose to $1.62 million from $900,145 at the end of 2024.
The Wrap:
Star Mountain Lower Middle-Market Capital Corp's Q1 2025 results show modest growth in total assets and an improvement in net asset value per share. While investments at fair value slightly decreased, the fund saw increases in cash, receivables from investment sales, and interest receivables. The capital structure saw a minor reduction in convertible notes payable and stockholders' equity, but an increase in subscriptions received in advance. The fund's performance improved with a higher NAV per share and reduced retained earnings deficit, though it faces increased incentive fees payable and other liabilities.
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