The following is a summary of the Investcorp Credit Management BDC, Inc. (ICMB) Q3 2024 Earnings Call Transcript:
Financial Performance:
Investcorp Credit Management BDC reported Q3 net investment income of $2.1 million or $0.14 per share, representing an approximately 32% increase from the previous quarter. The net asset value per share rose slightly by 0.2% to $5.49, driven by capital gains. The company's portfolio was valued at $192.2 million by the end of Q3 2024, and they declared a dividend of $0.12 per share for the quarter, along with a supplemental distribution of $0.03 per share.
Business Progress:
Notable personnel changes, with Suhail Shaikh appointed as the new CEO and Chief Investment Officer of the advisor. The company saw a decrease in the nonaccruals percentage of total portfolio fair value from 4.6% to 3.9%, indicating successful portfolio management and risk mitigation efforts. Progress has been made in portfolio rotation strategy, with investments rotated to a third of the portfolio. Q3's investment activity took place mainly in existing high performing portfolio companies. The company made investments in four existing portfolio companies, amounting to about $8.9 million while fully realizing six company investments, generating around $21.2 million.
More details: Investcorp Credit Management BDC IR
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