Financial Performance - Net investment income for Q3 2024 was $37.1 million, or $0.52 per share, an increase from $34.4 million, or $0.51 per share in Q2 2024[6]. - Total investment income for Q3 2024 was $57.8 million, compared to $52.5 million in Q2 2024, driven by portfolio additions[5]. - Total investment income for the quarter was $57,819,000, up from $41,197,000 in the same quarter last year, reflecting a year-over-year increase of 40.4%[15]. - Net investment income for the quarter was $37,053,000, compared to $21,369,000 in the prior year, marking a significant increase of 73.5%[15]. - Interest income from non-controlled, non-affiliated investments was $57,541,000, compared to $41,041,000, an increase of 40.4%[15]. Asset and Liability Management - Total assets as of September 30, 2024, were $2,028,245, up from $1,909,850 as of June 30, 2024[3]. - Total assets increased to $2,028,245,000 as of September 30, 2024, compared to $1,423,666,000 on December 31, 2023, representing a growth of 42.5%[13]. - Total liabilities increased to $842,040,000 from $740,610,000, which is an increase of 13.7%[13]. - The company's debt-to-equity ratio increased to 0.66x from 0.53x, with total debt outstanding at $788 million[3][10]. Investment Commitments - New private credit and equity investment commitments totaled $182.6 million, with fundings of $184.6 million and net funded investments increasing by $101.8 million[2]. - The company had $437 million of undrawn commitments available on its credit facilities as of September 30, 2024[9]. Shareholder Returns - The regular dividend declared was $0.40 per share, to be paid on January 15, 2025[11]. - The company reported a total of $28,420,000 in distributions payable, compared to $22,050,000 in the previous period, an increase of 29.0%[13]. Valuation Metrics - Net asset value per share increased to $16.70 from $16.57 as of June 30, 2024, primarily due to excess net investment income[3]. - Net asset value per common share rose to $16.70 from $16.42, indicating a 1.7% increase[13]. Operational Efficiency - Management fees for the quarter were $4,764,000, up from $2,905,000, representing a 64.3% increase[15]. - Cash and cash equivalents increased to $39,083,000 from $34,069,000, a rise of 14.8%[13]. Investment Quality - The weighted average yield on private middle market loans was 11.9%, down from 12.3% in the previous quarter[8]. - Non-accrual investments at fair value were $19,229,000, representing 1.0% of debt investments at fair value[8].
Kayne Anderson BDC, Inc.(KBDC) - 2024 Q3 - Quarterly Results