Private Credit Portfolio Analysis | Steele Creek Capital Reports Q1 2025 Results
- Editor
- May 9
- 2 min read
Whats New:
Steele Creek Capital Corp reported its Q1 2025 financial results, showing an increase in total assets to $147.1 million as of March 31, 2025, up from $143.8 million at the end of 2024. The fund's net asset value per share decreased to $9.03 from $9.40 at the end of the previous quarter.
Portfolio Dynamics:
Total assets grew to $147.1 million as of March 31, 2025, compared to $143.8 million at the end of 2024.
Investments owned at fair value decreased to $114.3 million from $121.6 million at the end of 2024.
Cash and cash equivalents rose significantly to $5.9 million from $2.6 million at the end of 2024.
Investment Activity:
Receivable from investment sales increased to $25.9 million from $18.4 million at the end of 2024.
The fund reported $561,000 in interest receivable, down from $648,000 at the end of 2024.
Prepaid expenses and other assets decreased slightly to $530,000 from $573,000 at the end of 2024.
Capital Structure:
Line of credit increased to $75.2 million from $73.3 million at the end of 2024.
Stockholders' equity decreased to $53.7 million from $54.7 million at the end of 2024.
The fund issued additional common stock, with the value increasing to $63.3 million from $62.1 million at the end of 2024.
Performance Profile:
Net asset value per share decreased to $9.03 as of March 31, 2025, compared to $9.40 at the end of 2024.
Retained earnings deficit increased to $9.6 million from $7.4 million at the end of 2024.
Total liabilities increased to $93.4 million from $89.1 million at the end of 2024.
Risk & Quality:
The fund reported an incentive fee payable of $4,000, up from zero at the end of 2024.
Management fee payable decreased to $295,000 from $310,000 at the end of 2024.
Payable for investment purchases increased to $16.6 million from $14.2 million at the end of 2024.
The Wrap:
Steele Creek Capital Corp's Q1 2025 results show mixed performance with an increase in total assets but a decrease in net asset value per share. The fund expanded its line of credit and saw significant growth in cash and cash equivalents. However, the value of investments owned at fair value decreased, and the retained earnings deficit widened. These changes reflect the dynamic nature of the fund's portfolio and its ongoing investment activities in a challenging market environment.
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