First Eagle Private Credit Fund Declares July Distributions, Reports June NAV

What Happened
First Eagle Private Credit Fund filed an 8‑K on July 23, 2026 (signed by CFO Jennifer Wilson) announcing regular distributions for July 2026 and reporting net asset value and portfolio metrics as of June 30, 2026. The Fund declared distributions payable August 28, 2026 to shareholders of record at the open of business on July 31, 2026; shareholders can receive cash or reinvest via the Fund’s reinvestment plan. The filing also discloses the Fund’s NAV, portfolio fair value, leverage, direct‑lending yields, shares outstanding and the status of its ongoing and private offerings.

Key Details

• Distributions declared (per share, July 23, 2026): Class I gross $0.210 (no servicing fee), Class D gross $0.210 with $0.005 servicing/distribution fee (net $0.205). Record date: July 31, 2026; pay date: August 28, 2026.
• NAV and scale (as of June 30, 2026): NAV per share — Class I $23.79, Class D $23.79; aggregate NAV $295.6 million; investment portfolio fair value ≈ $552.9 million.
• Leverage and portfolio metrics: principal debt outstanding ≈ $278.6 million, debt‑to‑equity ratio 0.94x; weighted average tenor 3.681 years.
• Direct lending yields and offering status: weighted average yield on debt investments ~9.48% (cost) / 9.53% (fair value). The Fund is offering up to $5.0 billion in common shares; total shares issued (Offering + Private Offering) ≈ 12,484,576 for total consideration ≈ $304.1 million (mostly from the private offering).

Why It Matters
The declared distributions set the expected cash (or reinvestment) payment for shareholders this cycle and the NAV and portfolio figures give a snapshot of the Fund’s size, leverage and income profile. The near‑1.0x debt‑to‑equity ratio indicates meaningful use of leverage, while the reported ~9.5% average yield on direct lending assets helps explain the Fund’s income generation potential. The continued public offering (up to $5.0 billion) and the substantial private offering to date show how the Fund is raising capital to grow its portfolio. These are operational and liquidity facts investors can use when evaluating current income, NAV per share and potential dilution from future share issuances.