Lord Abbett Private Credit Fund S 8-K

What Happened
Lord Abbett Private Credit Fund S announced it issued and sold approximately 137,784 common shares for an aggregate offering price of about $3.4 million (purchase price $24.64 per share; final share count determined June 22, 2026) under subscription agreements exempt from registration (Section 4(a)(2)/Reg D). The Fund also disclosed portfolio holdings and metrics as of May 31, 2026, and declared a distribution of approximately $0.19 per share (record date June 30, 2026; pay date on or about July 28, 2026). Aggregate NAV as of May 31, 2026 was approximately $197 million and NAV per share was $24.64.

Key Details

• Share issuance: ~137,784 Common Shares, aggregate proceeds ≈ $3.4M, $24.64 per share; shareholder purchasers represented they are accredited investors.
• Portfolio snapshot (as of May 31, 2026): loans to 57 portfolio companies, equity in 1 company, 1 joint venture; aggregate loan commitments ≈ $525M; par value ≈ $409.2M.
• Portfolio composition: ~95% senior secured debt and 5% joint venture (by par/cost); 100% of debt investments (by par) are floating-rate; 99% of commitments are private senior secured loans.
• Portfolio metrics: median 12‑month EBITDA $91M; weighted average net leverage 4.9x; weighted average LTV 44%; interest coverage 2.4x; weighted average yield on debt investments at cost 9.2%.
• Distribution & NAV: declared $0.19 per share (record June 30, pay ~July 28); aggregate NAV ≈ $197M; NAV per share $24.64 (as of May 31, 2026).

Why It Matters
The share sale increases the Fund’s outstanding shares and brought in cash at the reported NAV per share, while the declared distribution will reduce NAV when paid. The portfolio disclosure shows concentrated exposure to private senior secured, floating-rate loans (helpful in rising-rate environments) with a reported average yield of 9.2% and moderate leverage (4.9x average net leverage). Investors should note these figures are preliminary and subject to change upon completion of the Fund’s quarter-end financial close and the Form 10‑Q filing.