Lord Abbett Private Credit Fund S 8-K

What Happened

• Lord Abbett Private Credit Fund S filed an 8-K (May 29, 2026) announcing an unregistered private placement of approximately 102,024 common shares for aggregate proceeds of about $2.5 million at $24.70 per share (final share count determined May 26, 2026). The sales were made under subscription agreements relying on Section 4(a)(2)/Regulation D exemptions, with purchasers representing they are accredited investors.
• The filing also disclosed portfolio and NAV information as of April 30, 2026, and a distribution: NAV was approximately $194 million (NAV per share $24.70), and the board declared a distribution of ~$0.19 per share (record date May 31, 2026; payable on or about June 26, 2026).

Key Details

• Share issuance: ~102,024 Common Shares for ~$2.5 million total; $24.70 per share (determined May 26, 2026).
• NAV & distribution: Aggregate NAV ≈ $194M; NAV per share $24.70 (as of 4/30/2026); distribution $0.19/share declared 5/26/2026 (record 5/31/2026, pay ~6/26/2026).
• Portfolio size & composition: Aggregate loan commitments ≈ $497M and par value ≈ $381M across loans to 53 portfolio companies, plus one equity position and one joint venture; ~95% of portfolio by par/cost is senior secured debt.
• Portfolio metrics: 100% of debt investments (by par) were floating-rate as of 4/30/2026; weighted average yield on debt investments (at cost) 9.2%; median 12‑month EBITDA $88M; weighted average net leverage 5.0x; weighted average loan-to-value 45%; April loan activity commitments totaled $61.0M (par $42.8M).

Why It Matters

• The private share sale raised modest incremental capital (~$2.5M) using accredited-investor exemptions rather than a registered offering, which is relevant to liquidity and shareholder base growth.
• NAV and the declared distribution provide current measures of the fund’s value and cash return to shareholders; NAV per share equals the recent private placement price ($24.70).
• Portfolio disclosures show concentration in private senior secured, floating-rate loans with a reported 9.2% weighted average yield, which is central to the fund’s income profile and risk exposure. Final figures may change after financial close and quarterly reporting (Form 10‑Q for quarter ending 6/30/2026).