First Eagle Private Credit Fund 8-K

What Happened
First Eagle Private Credit Fund filed an 8-K on May 21, 2026 announcing regular distributions for May 2026 and reporting its net asset value (NAV) and portfolio metrics as of April 30, 2026. The Fund declared distributions payable June 29, 2026 to shareholders of record at the open of business on May 29, 2026; shareholders may receive cash or reinvest distributions under the Fund’s reinvestment plan. The filing also discloses the Fund’s April 30 NAV, portfolio fair value, leverage and yields for its Direct Lending portfolio.

Key Details

• Distributions: Class I — gross and net $0.210 per share; Class D — gross $0.210, $0.005 shareholder servicing/distribution fee, net $0.205 per share. Record date 5/29/2026; pay date 6/29/2026.
• NAV and size: NAV per share (Class I & D) $23.90 as of 4/30/2026; aggregate NAV $296.8 million; investment portfolio fair value ≈ $544.2 million.
• Leverage and debt: Principal debt outstanding $271.8 million, giving a debt-to-equity ratio of 0.92x as of 4/30/2026.
• Direct Lending yield: Weighted average yield on debt and income-producing investments 9.54% (at cost and at fair value) and weighted average tenor ~3.761 years.

Why It Matters
The declared distributions provide short-term cash or reinvestment options for shareholders and the record/pay dates are important for investors expecting income. The NAV, portfolio fair value and near-1.0x debt-to-equity ratio give a snapshot of the Fund’s size, leverage and balance between assets and liabilities. The reported ~9.54% weighted-average yield on the Direct Lending portfolio indicates the interest/return profile of the Fund’s core lending assets. Investors should note the Fund continues a continuous public offering (up to $5.0 billion) and has significant privately issued shares, which can affect share count and future NAV dynamics.