4 results
10-Q
2024 Q1
LGAM Private Credit LLC
13 May 24
Quarterly report
5:19pm
For the Three Months Ended March 31, 2024 | For the period from February 7, 2023 (inception) through March 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from operating activities: | Net increase (decrease) in members' capital resulting from operations | $ | 2,506 | $ | (95) | Adjustments to reconcile net increase (decrease) in members' capital resulting from operations to net cash provided by (used in) operating activities: | Net unrealized (appreciation) depreciation on investments | (19) | — | Net realized (gain) loss on investments | (3) | — | Net accretion of discount and amortization of premium on investments | (55) | — | Payment-in-kind interest | (19) | — | Amortization of deferred financing costs | 74 | — | Amortization of deferred offering costs | 9 | — | Purchases of investments and change in payable for investments purchased | (41,343) | — | Proceeds from sale of investments and principal repayments and change in receivable for investments sold/repaid | 2,503 | — | Changes in operating assets and liabilities: | (Increase) decrease in interest and dividend receivable from non-controlled/non-affiliated investments | (318) | — | (Increase) decrease in prepaid expenses and other assets | (306) | — | (Decrease) increase in payable to affiliates | (25) | — | (Decrease) increase in incentive fees payable | 2 | — | (Decrease) increase in interest payable | 400 | — | (Decrease) increase in accrued expenses and other liabilities | 223 | 95 | Net cash provided by (used in) operating activities | (36,371) | — | Cash flows from financing activities: | Borrowings on debt | $ | 13,100 | $ | — | Repayments on debt | (5,600) | — | Deferred financing costs paid | (123) | — | Dividends paid | (2,008) | — | Proceeds from issuance of Common units | 12,469 | — | Net cash provided by (used in) financing activities | 17,838 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net increase (decrease) in cash | (18,533) | — | Cash at beginning of period | 24,832 | — | Cash at end of period | $ | 6,299 | $ | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-Q
2024 Q1
LGAM Private Credit LLC
13 May 24
Quarterly report
5:19pm
For the Three Months Ended March 31, 2024 | For the period from February 7, 2023 (inception) through March 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expenses: | Interest and other financing expenses | $ | 809 | $ | — | Management fees | 227 | — | Income based incentive fees | 284 | — | Capital gains incentive fees | 3 | — | Professional fees | 201 | — | Organization and offering costs | 9 | 95 | Directors' fees | 43 | — | Administrative service fees | 15 | — | General and other expenses | 11 | — | Total expenses | $ | 1,602 | $ | 95 | Expense support (Note 3) | (222) | — | Management fees waiver (Note 3) | (227) | — | Income based incentive fees waiver (Note 3) | (284) | — | Net expenses | $ | 869 | $ | 95 | |||||||||||||||||||||||||||||||||
10-Q
2024 Q1
LGAM Private Credit LLC
13 May 24
Quarterly report
5:19pm
As of | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2024 | December 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Unaudited) | (Audited) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Non-controlled/non-affiliated investments, at fair value (amortized cost of $122,639 and $99,614) | $ | 122,790 | $ | 99,746 | Cash | 6,299 | 24,832 | Deferred financing costs | 1,289 | 1,240 | Deferred offering costs | 22 | 31 | Interest and dividend receivable from non-controlled/non-affiliated investments | 668 | 350 | Receivable for investments sold/repaid | 651 | — | Prepaid expenses and other assets | 1,079 | 773 | Total assets | 132,798 | 126,972 | Liabilities | Debt | 29,500 | 22,000 | Payable for investments purchased | 3,262 | 18,503 | Payable to affiliates (Note 3) | 283 | 308 | Dividends payable | 756 | 638 | Capital gains based incentive fee payable | 19 | 17 | Interest payable | 501 | 101 | Accrued expenses and other liabilities | 417 | 194 | Total liabilities | 34,738 | 41,761 | Commitments and Contingencies (Note 7) | ||||||||||||||||||||||||||||||||||||||||||||
Members' Capital | Common Units, par value $0.001 per share (4,872,429 and 4,251,250 units issued and outstanding) | 5 | 4 | Paid-in capital in excess of par value | 97,483 | 85,015 | Net distributable earnings (accumulated losses) | 572 | 192 | Total members' capital | $ | 98,060 | $ | 85,211 | Total liabilities and members' capital | $ | 132,798 | $ | 126,972 | Net asset value per unit | $ | 20.13 | $ | 20.04 |
10-Q
2024 Q1
LGAM Private Credit LLC
13 May 24
Quarterly report
5:19pm
For the Three Months Ended March 31, 2024 | For the period from February 7, 2023 (inception) through March 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Income: | From non-controlled/non-affiliated investments: | Interest income | $ | 3,202 | $ | — | Payment-in-kind | 63 | — | Other income | 88 | — | Total investment income | 3,353 | — | Expenses: | Interest and other financing expenses | 809 | — | Management fees | 227 | — | Income based incentive fees | 284 | — | Capital gains incentive fees | 3 | — | Professional fees | 201 | — | Organization and offering costs | 9 | 95 | Directors' fees | 43 | — | Administrative service fees | 15 | — | General and other expenses | 11 | — | Total expenses | 1,602 | 95 | Expense support (Note 3) | (222) | — | Management fees waiver (Note 3) | (227) | — | Income based incentive fees waiver (Note 3) | (284) | — | Net expenses | 869 | 95 | Net investment income (loss) | 2,484 | (95) | Net realized and unrealized gain (loss): | Net realized gain (loss): | Non-controlled/non-affiliated investments | 3 | — | Net change in unrealized appreciation (depreciation): | Non-controlled/non-affiliated investments | 19 | — | Net realized and unrealized gain (loss) | 22 | — | Net increase (decrease) in members' capital resulting from operations | $ | 2,506 | $ | (95) | Net investment income (loss) per unit: | $ | 0.53 | $ | — | Earnings (loss) per unit: | $ | 0.54 | $ | — | Weighted average units outstanding (Note 9): | 4,659,472 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- Prev
- 1
- Next