Sixth Street Specialty Lending(US:TSLX)2025-04-30 21:18Financial Performance - Net Asset Value (NAV) per share decreased slightly from $17.16 at the end of Q4 2024 to $17.04 at the end of Q1 2025[11] - Net investment income per share remained stable at $0.62 for Q1 2025, consistent with Q4 2024[11] - Adjusted net investment income per share was $0.58 in Q1 2025[11] - The annualized Return on Equity (ROE) from Net Investment Income was 14.4% for Q1 2025[10, 11] - The annualized ROE from Adjusted Net Income was 8.3% for Q1 2025[10, 11] Portfolio Composition and Activity - The fair value of investments was $3.412 billion as of March 31, 2025[8, 12, 13] - The portfolio consisted of 115 companies with an average investment size of $29.7 million[10] - First-lien debt investments accounted for 93% of the portfolio[10, 12, 23, 24] - Floating rate investments represented 97% of the portfolio[10, 12] - New investment commitments totaled $154.4 million in Q1 2025[12, 19, 20, 21] - Net repayment activity was $132.9 million in Q1 2025[21] Liquidity and Capital Structure - The company had approximately $1.013 billion of undrawn capacity on its revolving credit facility[10, 41] - Available liquidity was 5.8x greater than unfunded investment commitments[41] - Leverage at quarter-end was 1.18x, within the target range of 0.90x – 1.25x[10, 11, 13]