LGAM Private Credit LLC 8-K

What Happened

• LGAM Private Credit LLC filed an 8-K on March 25, 2026 disclosing two primary items: (1) an unregistered sale of common units and (2) a Regulation FD disclosure including a declared distribution and a portfolio snapshot. As of March 1, 2026 (final unit count determined March 23, 2026), the Fund sold approximately 522,962 Common Units for an aggregate price of about $10.4 million ($19.90 per unit) under subscription agreements exempt from Securities Act registration pursuant to Regulation S. On March 23, 2026 the Fund also declared a regular distribution of $0.1410 per unit payable on or about April 6, 2026 to holders of record as of March 31, 2026.
• The filing included a portfolio summary as of February 28, 2026: investments in 138 portfolio companies across 32 industries with aggregate par value of approximately $612.2 million (≈99.5% first lien debt) and an estimated net asset value of about $246.6 million. The Fund had approximately $255.7 million of debt outstanding (principal) as of that date.

Key Details

• Units sold: ~522,962 common units for aggregate proceeds ≈ $10.4 million; price = $19.90/unit; final unit count set March 23, 2026.
• Distribution: $0.1410 per unit declared March 23, 2026; payable ~April 6, 2026 to holders of record March 31, 2026.
• Portfolio size & mix (as of Feb 28, 2026): aggregate par ≈ $612.2M; ~99.5% first‑lien debt, ~99.9% of debt floating rate.
• NAV and leverage: estimated aggregate NAV ≈ $246.6M; total debt outstanding ≈ $255.7M (principal). Final NAV may change after financial close and the Form 10‑Q for the quarter ended March 31, 2026.

Why It Matters

• The unregistered unit sale raised cash for the Fund ($10.4M) but was limited to non‑U.S. investors under Regulation S, which affects who could participate and does not involve public registration.
• The declared distribution ($0.1410/unit) is a near‑term cash return to unitholders (record date March 31, payable ~April 6).
• The portfolio and NAV figures give investors a current snapshot of scale, portfolio composition (heavy in first‑lien, floating‑rate loans), and leverage; NAV is an estimate and may change when financials are finalized.