Golub Capital Private Credit Fund 8-K
Research Summary
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Golub Capital Private Credit Fund Announces March 2026 Distributions and Portfolio/NAV Update
What Happened
- Golub Capital Private Credit Fund filed an 8‑K (Accession 0001930087-26-000041) reporting its March 2026 regular distributions, portfolio and NAV update, and recent public offering activity. The filing was signed March 23, 2026 and posted March 24, 2026.
- The Fund declared March 2026 regular distributions of $0.1875 per share for both Class I and Class S shares (Class S net after estimated servicing fee: $0.1701). Record date is March 31, 2026 and payment is expected on or around April 29, 2026; distributions may be paid in cash or reinvested.
- As of February 28, 2026, the Fund reported investments in 462 portfolio companies with total fair value of approximately $10,196 million, an aggregate NAV of about $4,537 million and outstanding debt and short-term borrowings of approximately $5,992 million.
Key Details
- Distribution: March 2026 per-share gross distributions — Class I $0.1875; Class S $0.1875 (estimated servicing fee $0.0174 → net $0.1701). Record date 3/31/2026; pay date ~4/29/2026.
- Portfolio mix (by fair value as of 2/28/2026): First-lien senior secured 96%, junior debt 1%, equity & other 3%; ~99% of debt investments are floating-rate.
- Size & leverage: Portfolio fair value ~$10,196M; NAV ~$4,537M; debt & borrowings ~$5,992M; debt-to-equity leverage ratio 1.33x; GAAP debt-to-equity (net) 1.28x (1.27x excluding $72.1M restricted cash from 2026-B securitization).
- Public offering and equity inflows: Ongoing public offering up to $10.0B. Through 3/1/2026 the Fund issued 154,226,190 Class I shares ($3,872,884,656) and 9,132,814 Class S shares ($229,372,294). Net proceeds of ~ $88M from share issuance on 3/2/2026 reduced GAAP net leverage to 1.22x.
Why It Matters
- The filing gives investors the concrete cash distribution amount and timing for March 2026, plus the option to reinvest distributions.
- Portfolio and balance‑sheet figures (NAV, portfolio fair value, and leverage ratios) show the Fund’s size, capital structure and recent deleveraging from equity issuance and the 2026-B securitization.
- The high share of first‑lien, floating‑rate debt (96% and ~99% of debt investments, respectively) describes the portfolio’s composition and how interest income will generally reset with short‑term rates. Investors tracking yield, credit exposure or leverage should consider these reported facts when evaluating the Fund.