T. Rowe Price OHA Select Private Credit Fund 8-K

What Happened

• The fund filed an 8-K (Regulation FD disclosure and Other Events) announcing regular distributions declared May 27, 2026 and payable on or about June 30, 2026 to shareholders of record as of May 29, 2026. It also reported its net asset value (NAV) and offering status as of April 30, 2026.
• Distributions: gross distribution per share for all classes is $0.2000. Net distributions per share are:
  • Class I: $0.2000
  • Class S: $0.1815 (after $0.0185 servicing/distribution fee)
  • Class D: $0.1946 (after $0.0054 servicing/distribution fee) Distributions may be taken in cash or reinvested under the fund’s distribution reinvestment plan.
• NAV and balance-sheet snapshot (as of April 30, 2026): NAV per share $26.10; aggregate NAV $1,625.2 million; investment portfolio fair value $3,053.2 million; principal debt outstanding $1,478.6 million, implying a debt-to-equity ratio of ~0.91x.
• Offering status: the fund is conducting a continuous public offering of up to $2.5 billion. Through the May 1, 2026 subscription date, shares issued and consideration were approximately:
  • Class I: 49,146,114 shares — $1,343.7 million
  • Class S: 4,552,930 shares — $124.8 million
  • Class D: 7,359,597 shares — $197.9 million The fund intends to continue monthly sales; these figures exclude shares issued via the reinvestment plan.

Key Details

• Distribution record date: May 29, 2026; payment/reinvestment date: on or about June 30, 2026.
• Distribution per share (gross): $0.2000 for all classes; net varies by class due to fees.
• NAV per share (4/30/2026): $26.10; aggregate NAV: $1,625.2M.
• Debt and leverage (4/30/2026): $1,478.6M principal debt; debt-to-equity ≈ 0.91x.
• Offering progress (through 5/1/2026): ~ $1,666.4M total consideration from issued common shares (Classes I, S, D).

Why It Matters

• Distributions: Investors should note the declared per-share distribution amounts, the record and payment dates, and that cash distributions can be reinvested, which affects share counts and personal cash flow expectations.
• NAV and leverage: The NAV and reported debt-to-equity ratio give a snapshot of the fund’s size and leverage as of April 30, 2026—important for assessing risk and income sustainability in a private credit fund.
• Ongoing offering: The fund is actively issuing shares up to a $2.5B cap and has already raised material consideration, which can affect future supply of shares and the fund’s capital for investments.