LGAM Private Credit LLC 8-K

What Happened
LGAM Private Credit LLC filed an 8-K on April 28, 2026 disclosing a regular distribution and providing a March 31, 2026 portfolio and NAV update. The Fund declared a distribution of $0.1390 per unit on April 24, 2026, payable on or about May 5, 2026 to unitholders of record as of April 30, 2026. As of March 31, 2026 the Fund held investments in 141 portfolio companies across 32 industries with aggregate par/cost of about $639.8 million; the Fund’s estimated aggregate net asset value was $242.6 million (NAV per unit $19.63) and debt outstanding was approximately $274.7 million.

Key Details

• Distribution: $0.1390 per unit declared April 24, 2026; record date April 30, 2026; payable on/about May 5, 2026.
• Portfolio size & mix: ~$639.8M par/cost across 141 companies (32 industries); ~99.5% first‑lien, ~0.1% second‑lien, ~0.4% other; ~99.9% of debt investments are floating rate.
• Financial snapshot: estimated aggregate NAV ~$242.6M (NAV/unit $19.63) and total debt outstanding ~$274.7M as of March 31, 2026; leverage ~1.13x (debt-to-equity).
• Liquidity & performance: available liquidity (cash, cash equivalents, committed capacity) > $246.0M; new commitments in March ~ $30.3M (all first‑lien); Q1 2026 total return +0.6% (benchmarks: S&P 500 -4.3%, Bloomberg U.S. Aggregate -0.1%, ICE BofA HY -0.6%, LSTA leveraged loan index -0.6%).

Why It Matters
The filing confirms a regular cash distribution and shows the Fund remains heavily weighted to first‑lien, floating‑rate middle‑market loans—a profile that reduces sensitivity to rising interest rates and duration risk. NAV moved primarily from market-driven spread widening rather than broad credit deterioration, and the Fund reports strong liquidity and modest leverage, which supports operations and potential capital deployment. Investors should note the NAV figures are estimated and subject to change pending financial close and the Company’s 10‑Q.