Financial Performance - Net investment income for Q3 2024 was $0.58 per share, fully covering regular and special distributions[2] - Investment income increased to $60.3 million in Q3 2024, up from $41.7 million in Q3 2023, driven by increased investment activity[8] - Total investment income for the three months ended September 30, 2024, was $60,280,000, an increase of 44.2% compared to $41,746,000 for the same period in 2023[19] - Net investment income per share for the three months ended September 30, 2024, was $0.58, a decrease of 6.5% from $0.62 in the same period last year[19] - The net increase in net assets resulting from operations for the three months ended September 30, 2024, was $36,643,000, compared to $20,149,000 in the prior year, reflecting an increase of 81.6%[19] Portfolio Investments - The company funded $203.2 million in portfolio investments during Q3 2024, compared to $305.0 million in Q2 2024[6] - The fair value of the company's portfolio investments rose to $2.05 billion across 202 portfolio companies, up from $1.99 billion in Q2 2024[4] - The number of new portfolio companies increased to 18, compared to 14 in the same period last year, representing a growth of 28.6%[20] - The total number of portfolio companies at the end of the period was 202, up from 174 in the previous year, marking an increase of 16.1%[20] - The count of investments rose to 457, up from 363 in the previous year, indicating a growth of 25.9%[20] Expenses and Gains - Net expenses rose to $28.8 million in Q3 2024, compared to $20.1 million in Q3 2023, primarily due to higher interest and management fees[9] - Total expenses before expense support and incentive fees waived were $34,287,000, an increase of 70.5% from $20,091,000 in the same period last year[19] - The company recorded a net realized gain of $1.1 million in Q3 2024, compared to a net loss of $(13.1) million in Q3 2023[10] Debt and Equity - The debt to equity ratio increased to 1.11x as of September 30, 2024, compared to 1.04x at June 30, 2024[11] - The weighted average yield of debt and income-producing investments decreased to 10.9% as of September 30, 2024, from 11.9% a year earlier[8] - The weighted average annual interest rate on new debt investments at par was 9.63%, down from 12.07% in the previous year, indicating a decrease of 20.2%[20] Distributions - The company declared a fourth quarter regular distribution of $0.45 per share, payable on January 28, 2025[3]
Nuveen Churchill Direct Lending(NCDL) - 2024 Q3 - Quarterly Results