Core Insights - NB Private Equity Partners (NBPE) reported its monthly NAV estimate as of June 30, 2025, with a total NAV of $1.2 billion [1][3]. NAV Performance - The NAV total return (TR) for the year to date is 1.3%, with a one-year return of 5.8% and a ten-year return of 158.3% [3]. - The MSCI World TR (USD) shows a year-to-date return of 9.3% and a ten-year return of 189.9% [3]. - The share price total return (GBP) is down 7.6% year to date, but has increased by 185.1% over ten years [3]. Portfolio Update - The NAV performance in June was influenced by $68 million in realizations during the first half of 2025, primarily from private holdings [4][6]. - As of June 30, 2025, NBPE had $284 million in total liquidity, including $74 million in cash and liquid investments, and a $210 million undrawn credit line [5][8]. Share Buybacks - Approximately 51,000 shares were repurchased in June 2025 at a 30% discount, contributing an increase of about $0.01 per share to NAV [6][10]. - Year-to-date, around 759,000 shares have been repurchased at a 29% discount, adding approximately $0.11 per share to NAV [10]. Portfolio Valuation - The fair value of NBPE's portfolio as of June 30, 2025, is based on various investments, with the top 30 investments accounting for 77.5% of the total portfolio value [9][11]. - The portfolio is geographically diversified, with 76% in North America and 23% in Europe [12]. Sector Allocation - The portfolio is primarily allocated to Technology, Media & Telecom (23%), Consumer/E-commerce (22%), and Industrials (17%) [12]. Investment Strategy - NBPE focuses on direct private equity investments alongside leading private equity firms globally, aiming for capital appreciation and bi-annual dividends [13].

Group 1: Ellington Financial Preferred Shares - EFC-B trades at $22.75 while EFC-C trades at $24.84, indicating a $2.09 difference that may not be justified given EFC-C's higher coupon rate of 8.625% compared to EFC-B's 6.25% [3][4] - EFC-C pays an additional $0.595 per share annually, amounting to $0.8925 over the next 18 months, while EFC-B may have a higher coupon rate if the 5-year Treasury rate exceeds 3.64% [4][5] - EFC-D has a fixed coupon rate of 7% and trades at $23.10, with a stripped yield of approximately 7.62%, which is low for a fixed-rate share from a mortgage REIT [7][8] Group 2: Main Street Capital - Main Street Capital consistently increases its Net Asset Value (NAV) per share while providing an attractive dividend, trading at nearly twice its trailing book value per share [11][12] - The ability to issue shares at a premium enhances book value per share and drives earnings growth, creating a favorable cycle for the company [12][13] - Despite being an outstanding BDC, the current share price is considered too expensive, as the valuation may not be sustainable without the ability to issue shares at high prices [13]

Core Insights - EfTEN Real Estate Fund AS reported a consolidated rental income of EUR 2,650 thousand in June 2025, reflecting a slight increase from May due to higher turnover-based rent and lower vacancy rates in office premises [1] - For the first half of 2025, the Fund's rental income reached EUR 15.58 million, a 1.6% increase year-over-year, while consolidated EBITDA decreased by 1.3% to EUR 12.9 million, primarily due to the sale of a gardening center and increased office vacancies [2] - The Fund's property portfolio saw a minor revaluation gain of EUR 546 thousand, with a 0.15% increase in fair value, influenced by a decrease in discount rates [3] - An interest rate swap agreement was established to fix the 1-month EURIBOR at 1.995%, with a notional value of EUR 11.6 million, representing 7.4% of the Fund's consolidated loan portfolio [4] - The weighted average loan interest rate decreased to 3.95% from 5.65% a year earlier, with consolidated interest expenses for the first half of the year amounting to EUR 3.5 million, a reduction of EUR 973 thousand compared to the previous year [5] - As of June 30, 2025, the Fund's net asset value (NAV) per share was EUR 19.979, and EPRA NRV was EUR 20.8523 per share, both showing a 1.0% increase during the month [5]

Investor Presentation March 28, 2025 CAUTIONARY STATEMENT This presentation contains forward-looking statements in which Stratus discusses factors it believes may affect its future performance. Forward-looking statements are all statements other than statements of historical fact, such as plans, projections or expectations related to inflation, interest rates, tariffs, supply chain constraints, Stratus' ability to pay or refinance its debt obligations as they become due, availability of bank credit, Stratus ...

Core Viewpoint - NB Private Equity Partners (NBPE) announced its monthly NAV estimate for May 2025, reporting a NAV per share of $27.24 (£20.20) with a total return of (0.2%) for the month [1][5]. NAV Highlights - As of 31 May 2025, the NAV total return (TR) was 0.7% year-to-date and 2.0% over one year, while the three-year and five-year annualized returns were 13.2% and 9.9%, respectively [3]. - The MSCI World TR showed a stronger performance with a year-to-date return of 5.2% and a one-year return of 47.1% [3]. - The share price TR in GBP was reported at (7.9%) year-to-date, with a one-year return of 7.9% [3]. Portfolio Update - The NAV performance was influenced by $66 million in realizations year-to-date [4]. - The fair value of private company valuations decreased by (0.4%) during Q1 2025, while quoted holdings increased in value by $8 million [5][6]. - As of 31 May 2025, NBPE had $285 million in available liquidity, including $75 million in cash and liquid investments [8]. Share Buybacks - Approximately 51,000 shares were repurchased in May 2025 at a weighted average discount of 30%, contributing approximately $0.01 per share to NAV [10]. - Year-to-date, a total of 738,000 shares have been repurchased at a weighted average discount of 29%, which added approximately $0.11 per share to NAV [10]. Portfolio Valuation - The fair value of NBPE's portfolio as of 31 May 2025 was $972.5 million, representing 77.5% of total investments [11]. - The portfolio is primarily concentrated in North America (77%) and Europe (22%) [12]. - The industry distribution shows significant investments in Tech, Media & Telecom (22%) and Consumer/E-commerce (22%) [12].

Performance Overview - In May 2025, Volta Finance's net performance increased by +3.3%, bringing the cumulative performance from August 2024 to +10.7% [4][5] - The positive macroeconomic environment contributed to the recovery of investments in CLO Debt and CLO Equity, which had previously experienced volatility [4][5] Macroeconomic Context - The macroeconomic environment improved, with a 90-day tariff rollback from the U.S. towards China, leading to a sharp rise in both European and U.S. equity markets [5] - U.S. inflation rates decreased to 2.3% year-on-year, while euro-area inflation remained stable at 2.2% [6] - The U.S. Q1 GDP contracted by an annualized 0.3% due to pre-tariff stockpiling, while the Eurozone experienced a growth of +0.3% quarter-on-quarter [6] Credit Market Performance - Credit markets showed strong performance in May, with the European High Yield index tightening by around 50bps and closing at 300bps [7] - U.S. BBs returned +3% for the month, while U.S. High Yield returned +1.7% and Euro High Yield decreased by +1.3% [7] Loan Fundamentals - Default rates in the U.S. remained steady at 4.4%, but there was an increase in downgrades, with 12% of B- exposures downgraded to CCC by S&P [8] Cash Position and Investments - Volta Finance maintained a cash position of approximately 10% of its NAV at the end of May, having deployed €10.7 million into CLO debt tranches and two warehouses [9] - The cash flow generation remained stable at €28.1 million over the last six months, representing close to 21% of May's NAV on an annualized basis [9] Asset Class Performance - CLO Equity tranches returned +5.9% while CLO Debt tranches returned +2.8% during May [10] - The dollar reached a six-week low against the Euro at $1.15, with minimal impact on long dollar exposure [10] NAV and Share Information - As of the end of May 2025, Volta's NAV was €271.8 million, equating to €7.43 per share [11]

Group 1 - Resurgent Realty Trust has amended its offer to purchase shares of Generation Income Properties, Inc. at $1.45 per share due to a reduction in the company's net asset value (NAV) resulting from two recent asset sales [1] - The previous offers of $2.50, $2.75, and $3.00 have been withdrawn as GIPR's share price continues to decline, reflecting a lack of confidence in the current leadership by the investment community [1] - The current offer represents a discount of approximately 15% to Resurgent's estimated NAV for GIPR, which is $1.70 [1] Group 2 - Resurgent Realty Trust intends to pursue all legal remedies to maximize the value of its investment in GIPR, including a request for a non-disclosure agreement and proxy questionnaire [2] - The company plans to nominate an alternate slate of directors for election at GIPR's next annual meeting [2]

Core Insights - The article provides a detailed analysis comparing Golub Capital BDC Inc. (GBDC) with 11 of its business development company (BDC) peers, focusing on dividend sustainability and financial metrics [1][2][3] Group 1: Dividend Analysis - GBDC declared a base dividend of $0.39 per share for Q1 2025, with a TTM dividend yield of 12.30% and an annual forward yield of 10.32% based on its stock price as of March 21, 2025 [10][31] - For Q2 2025, GBDC maintained the same base dividend of $0.39 per share, resulting in a TTM dividend yield of 11.91% and an annual forward yield of 10.62% as of June 13, 2025 [28][29][31] - GBDC's management has indicated a high probability (70%) of maintaining the base dividend through Q4 2025, with no special periodic dividends expected for Q3 and Q4 2025 [33] Group 2: Financial Metrics Comparison - GBDC's cumulative undistributable taxable income (UTI) coverage ratio was 0.09 as of March 31, 2025, reflecting a decrease over the trailing twelve months [16][17] - The weighted average annualized yield on GBDC's debt investments was 10.50% as of December 31, 2024, which is below the mean of 11.60% among its peers [20][24] - GBDC's weighted average interest rate on outstanding borrowings was 5.37% as of March 31, 2025, showing an increase due to the merger with GBDC 3, which had a higher cost of capital [24][25] Group 3: Market Position and Recommendations - GBDC's stock price was $14.69 as of June 13, 2025, and the company is currently rated as HOLD, with a price target of approximately $15.95 per share [36][37] - The analysis indicates that GBDC's annual forward yield to its projected NAV was 10.51%, which is near the average of its 12 BDC peers [32][31] - The article emphasizes that GBDC has not decreased its base dividend since Q2 2020, highlighting a consistent dividend policy despite market fluctuations [18][19]

Group 1: Rental Income and Revenue Growth - In May, EfTEN Real Estate Fund AS reported consolidated rental income of EUR 2,643 thousand, an increase of EUR 33 thousand from April, driven by higher revenue in the logistics segment and contract-based rent increases in the elderly care segment [1] - For the first five months of 2025, the Fund earned EUR 12.9 million in rental income, reflecting a 1.3% increase compared to the same period last year [3] Group 2: Financial Performance Metrics - The Fund's consolidated EBITDA in May was EUR 2,229 thousand, up from EUR 2,183 thousand in April, with adjusted cash flow amounting to EUR 1,148 thousand, an increase of EUR 138 thousand compared to April [2] - Consolidated EBITDA for the year stands at EUR 10.6 million, which is 2.7% lower year-over-year, primarily due to utility costs related to vacant space in the office segment [3] - Consolidated interest expenses decreased by EUR 768 thousand compared to last year, with the weighted average interest rate falling to 4.09% in May [3] Group 3: Portfolio and Asset Valuation - The portfolio vacancy rate decreased to 4.0%, down 0.7 percentage points, mainly due to new lease agreements signed in the office building at Pärnu mnt 102 in Tallinn [2] - As of the end of May, the Fund's net asset value (NAV) per share was EUR 19.7782, and the EPRA NRV was EUR 20.6479, both increasing by 0.7% over the month [4]

Core Viewpoint - Oxford Lane Capital Corp. announced a preliminary estimate of its net asset value (NAV) per share as of May 31, 2025, ranging between $4.17 and $4.27, with approximately 481.6 million shares of common stock outstanding [6]. Company Overview - Oxford Lane Capital Corp. is a publicly-traded registered closed-end management investment company that primarily invests in debt and equity tranches of collateralized loan obligation (CLO) vehicles. The company may also invest in warehouse facilities, which are financing structures used to aggregate loans for CLO formation [4]. Financial Data - The preliminary financial data provided is the responsibility of the company's management and has not been audited or reviewed by PricewaterhouseCoopers LLP, which does not express any opinion or assurance regarding the data [3]. - The NAV estimate is not a comprehensive statement of the company's financial condition for the month ended May 31, 2025, and may differ materially from the final NAV for the quarter ending June 30, 2025 [6].