Businesswire·2026-03-31 01:47Core Viewpoint - Investcorp Credit Management BDC, Inc. announced its financial results for the quarter and year ended December 31, 2025, and is reviewing strategic alternatives to maximize shareholder value through a Special Committee of Independent Directors [1][14]. Financial Highlights - Total assets as of December 31, 2025, were $188.8 million, with an investment portfolio at fair value of $172.7 million [4]. - The company made a $1.5 million investment in one existing portfolio company during the quarter and realized $8.2 million from three portfolio companies, achieving an internal rate of return of 10.59% [4][8]. - The weighted average yield on debt investments was 10.56%, down from 10.87% in the previous quarter [4]. - Net asset value decreased by $0.79 per share to $4.25, with net assets decreasing by $11.4 million, or 15.65%, compared to the previous quarter [4][5]. - The company had net investment income before taxes of $0.3 million, translating to $0.02 per share, while the net decrease in net assets from operations was $9.4 million, or $0.65 per share [5][9]. Portfolio and Investment Activities - As of December 31, 2025, the investment portfolio consisted of 37 companies, with 80.76% being first lien investments and 19.24% in equity and other investments [10]. - The company had $15.0 million in cash, with $10.4 million being restricted cash, and $41.1 million of unused capacity under its revolving credit facility [11]. - Subsequent to December 31, 2025, the company invested $0.8 million and received approximately $13.3 million from the sale and repayment of four positions [12]. Strategic Review and Future Outlook - The Board has initiated a formal review process to evaluate strategic alternatives, with no set timetable for completion [14]. - The decision to not declare a quarterly dividend for the current quarter reflects a focus on disciplined capital allocation and protecting net asset value [2][7].