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|8-KFeb 23, 5:15 PM ET

First Eagle Private Credit Fund 8-K

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First Eagle Private Credit Fund Declares Feb 2026 Distributions

What Happened
First Eagle Private Credit Fund filed an 8‑K on February 23, 2026 announcing regular distributions for February 2026, reporting its net asset value (NAV) and portfolio metrics as of January 31, 2026, and disclosing a small unregistered sale of Class I shares. The Fund declared gross distributions of $0.210 per share for both Class I and Class D common shares (net to Class I: $0.210; net to Class D: $0.205 after a $0.005 servicing/distribution fee). The distributions were declared on February 23, 2026, payable March 30, 2026 to shareholders of record at the open of business on February 27, 2026, with a cash or reinvestment option under the Fund’s reinvestment plan.

Key Details

  • Distributions: Class I gross $0.210, fee $0.000, net $0.210; Class D gross $0.210, fee $0.005, net $0.205. Record date Feb 27, 2026; pay date Mar 30, 2026.
  • NAV and portfolio (as of Jan 31, 2026): NAV per share — Class I $24.09; Class D $24.09. Aggregate NAV $300.1 million; portfolio fair value ≈ $563.1 million.
  • Leverage & yield: Principal debt outstanding ≈ $310.1 million; debt-to-equity ratio 1.03x. Direct lending weighted average yield: 9.56% (cost) / 9.55% (fair value). Weighted average tenor ~3.921 years.
  • Offerings and share counts: Fund is offering up to $5.0 billion. Private Offering sold 12,471,446 Class I shares for $303.8 million; total Offering & Private Offering outstanding ~12,480,810 shares representing ~$304.0 million in consideration (does not include reinvested shares).
  • Unregistered sale: As of Feb 1, 2026 (finalized Feb 23, 2026) the Fund sold 306 Class I shares to a feeder vehicle for $7,360 under Section 4(a)(2) and/or Regulation S exemptions.

Why It Matters
The filing provides investors with the Fund’s current income distribution, up‑to‑date NAV and balance sheet metrics, and portfolio yield figures — key inputs for income-focused investors assessing yield, leverage and size. The declared distributions confirm the Fund’s cash (or reinvestment) payout for March 2026; the NAV, portfolio fair value and debt level show the Fund’s scale and leverage as of Jan 31. The small unregistered sale and ongoing Offering/Private Offering reflect routine capital-raising activity; there were no material management changes or unexpected events disclosed.