Lord Abbett Private Credit Fund: Share Sale, Distribution & Portfolio Update

What Happened
Lord Abbett Private Credit Fund filed an 8‑K reporting that, as of September 1, 2026, it issued ~1,740,469 common shares for aggregate proceeds of about $43.2 million at $24.84 per share (final share count determined Sept 21, 2026). The issuance was made under subscription agreements and was exempt from registration under Section 4(a)(2) and/or Regulation D, relying on investor accreditation representations. On September 21, 2026 the Company also declared a distribution of approximately $0.22 per share to holders of record on September 30, 2026, payable on or about October 29, 2026. As of August 31, 2026 the Fund’s aggregate NAV was about $825 million and NAV per share was $24.84.

Key Details

• Share issuance: ~1,740,469 common shares for ~$43.2M at $24.84/share (final amount confirmed Sept 21, 2026); sale relied on accredited‑investor attestations.
• Distribution & NAV: $0.22/share declared (record Sept 30, pay ~Oct 29); NAV = ~$825M total; NAV/share = $24.84 (as of Aug 31, 2026).
• Portfolio size & composition (as of Aug 31, 2026): loans to 63 companies; aggregate loan commitments ≈ $2,078M; debt par ≈ $1,596M; 95% senior secured debt; 100% floating‑rate debt (by par).
• Portfolio metrics: weighted average yield on debt (at cost) 9.4%; median 12‑month EBITDA $95M; weighted avg net leverage 5.0x; weighted avg loan‑to‑value 43%; interest coverage 2.4x. Total private credit platform estimated ≈ $4.9B, with ≈ $3.4B Total Committed Capital.

Why It Matters

• The Fund raised equity at roughly the reported NAV per share ($24.84), which can help fund new loans without a public offering and may limit immediate dilution for existing holders.
• The declared $0.22/share distribution will reduce NAV when paid but provides near‑term cash to shareholders.
• Portfolio details show the Fund is concentrated in senior secured, floating‑rate loans (reducing fixed‑rate interest risk) with a reported average yield of 9.4% and meaningful exposure across several industries.
• Numbers are preliminary and subject to the Fund’s financial close and quarterly reporting; investors should watch the upcoming Form 10‑Q for finalized results.