First Eagle Private Credit Fund 8-K

What Happened

• First Eagle Private Credit Fund filed an 8-K (April 23, 2026) announcing regular distributions declared for April 2026, reporting its March 31, 2026 net asset value (NAV) and portfolio statistics, and updating the status of its ongoing public and private share offerings. The filing was signed by Jennifer Wilson, CFO and Treasurer.

Key Details

• Distributions: Declared April distributions payable May 28, 2026 to shareholders of record as of the open of business on April 30, 2026. Options to receive cash or reinvest under the Fund’s distribution reinvestment plan.
  • Class I: Gross $0.210, Shareholder servicing/distribution fee $0.000, Net $0.210 per share
  • Class D: Gross $0.210, Fee $0.005, Net $0.205 per share
• NAV and portfolio (as of March 31, 2026):
  • NAV per share: Class I $23.95; Class D $23.95
  • Aggregate NAV: $297.4 million; Investment portfolio fair value: ~$537.3 million
  • Principal debt outstanding: ~$281.8 million; Debt-to-equity ratio: 0.95x
  • Weighted average tenor of portfolio: 3.791 years
  • Direct lending weighted average yield on debt and income-producing investments: 9.62% (at cost and at fair value)
• Shares and offering activity:
  • Shares outstanding (Mar 31, 2026): Class I 12,413,929; Class D 4,205
  • Ongoing public Offering: up to $5.0 billion in common shares
  • Common shares issued (Offering + Private Offering) as disclosed: total 12,482,480 shares for total consideration ~$304.1 million (Private Offering accounted for ~$303.8M)

Why It Matters

• The filing gives investors current cash distribution amounts and timing, key NAV figures, and portfolio-level metrics (portfolio fair value, yields, leverage and tenor) that affect valuation and income expectations.
• The roughly 9.62% weighted yield and near 1.0x debt-to-equity ratio indicate the Fund’s income profile and leverage level as of March 31, 2026; distribution amounts and reinvestment options affect near-term cash returns and share issuance.
• The update on the public Offering and the substantial private offering proceeds provide context on recent capital raising and potential future share dilution; investors should weigh distributions and portfolio metrics against their income and risk objectives.