Golub Capital Private Credit Fund 8-K

What Happened

• Golub Capital Private Credit Fund filed an 8‑K on June 23, 2026 announcing its June 2026 regular distributions and providing a portfolio and NAV update as of May 31, 2026. The Fund declared June distributions payable on or around July 30, 2026 to shareholders of record at the open of business on June 30, 2026; distributions may be taken in cash or reinvested under the Fund’s reinvestment plan.
• The filing also reported the Fund’s portfolio and balance-sheet metrics as of May 31, 2026, including NAV per share, total portfolio fair value, outstanding borrowings, leverage ratios, investment mix and top industry exposures.

Key Details

• Distributions (declared May 1, 2026; payable ~July 30, 2026; record date June 30, 2026):
  • Class I: Gross and net distribution $0.1875 per share.
  • Class S: Gross distribution $0.1875; estimated servicing/distribution fee $0.0172; net distribution $0.1703 per share.
• Portfolio and balance-sheet (as of May 31, 2026):
  • 450 portfolio companies; total fair value ≈ $9,676 million; aggregate NAV ≈ $4,453 million; debt and short‑term borrowings ≈ $5,484 million.
  • Debt‑to‑equity leverage ratio 1.24x; GAAP net debt‑to‑equity ratio 1.21x.
• Investment profile:
  • By fair value: First‑lien senior secured 96%, junior debt 1%, equity & other 3%.
  • ~99% of debt investments (by fair value) are floating‑rate; 7 debt investments (~1%) are fixed‑rate.
  • Top industry exposures: Software 21%; Hotels/Restaurants/Leisure 7%; Healthcare Technology 7%; Healthcare Equipment & Supplies 7%; Insurance 6% (others listed).
• Public offering status:
  • Ongoing public offering up to $10.0 billion. Through June 1, 2026 the Fund issued ~158.4M Class I shares ($3.974B) and ~9.35M Class S shares ($234.6M).

Why It Matters

• Income: Retail holders should note the declared per‑share distributions and the small servicing fee that reduces the net payout for Class S shares. Shareholders can expect payment around July 30, 2026 or reinvestment if enrolled.
• Portfolio and risk profile: The Fund is large (≈$9.7B portfolio fair value) and highly concentrated in first‑lien senior secured loans (96%), with almost all debt investments on floating rates (~99% by fair value). Those facts affect the Fund’s credit exposure and how interest income will move with market rates.
• Leverage and liquidity: Aggregate NAV (~$4.45B) and reported leverage (debt‑to‑equity ~1.24x) provide a snapshot of the Fund’s financing level and balance‑sheet structure; investors may use these figures to compare risk versus peers.
• Ongoing capital raise: The Fund continues a large, monthly public offering (target up to $10B), which is expanding outstanding shares and total consideration raised to date.