LGAM Private Credit LLC 8-K

What Happened
LGAM Private Credit LLC filed an 8-K on February 26, 2026 disclosing two main items: (1) an unregistered sale of approximately 526,732 common units (final count determined February 23, 2026) at $19.92 per unit for aggregate proceeds of about $10.5 million, and (2) a regular distribution of $0.1411 per unit declared on February 23, 2026 payable on or around March 4, 2026 to holders of record as of February 28, 2026. The unit issuance was made under subscription agreements and relied in part on Regulation S exemptions (purchasers represented they were not U.S. Persons).
The filing also provided a portfolio and balance-sheet snapshot as of January 31, 2026: the Fund held investments in 136 portfolio companies with aggregate par value of approximately $608.5 million, an estimated aggregate net asset value of $236.3 million, and about $261.7 million of debt outstanding.

Key Details

• Units sold: ~526,732 common units at $19.92 per unit; aggregate proceeds ≈ $10.5 million (sale completed under Reg S / other exemptions).
• Distribution: $0.1411 per unit declared Feb 23, 2026; record date Feb 28, 2026; payable on/around Mar 4, 2026.
• Portfolio size & mix (as of Jan 31, 2026): par value ≈ $608.5M across 136 companies; ~99.5% first‑lien debt, ~0.1% second‑lien, ~0.4% other; ~99.9% of debt investments are floating‑rate.
• Financial snapshot: estimated aggregate NAV ≈ $236.3M; outstanding debt (principal) ≈ $261.7M; new commitments in Jan 2026 ≈ $23.8M (mostly first‑lien).

Why It Matters
These items matter to unitholders because the unit sale raises additional capital ($10.5M) while relying on Regulation S, indicating purchasers were non‑U.S. persons and the issuance may carry resale restrictions in the U.S. The declared distribution confirms the Fund’s ongoing cash payout to holders. The portfolio and balance‑sheet figures (par value, NAV estimate, and debt outstanding) give investors a current view of scale, leverage, and portfolio composition—notably a heavy concentration in first‑lien, floating‑rate debt (about 99.5% and 99.9%, respectively), which ties income to short‑term rates. The NAV is an estimate and may change after financial close and the quarterly 10‑Q.