Golub Capital Private Credit Fund: August Distributions & Portfolio Update

What Happened

• Golub Capital Private Credit Fund filed an 8-K on August 24, 2026 (Items 7.01 and 8.01) announcing its August 2026 regular distributions and providing a portfolio and business update as of July 31, 2026.
• The Fund declared August distributions payable on or about September 29, 2026 to shareholders of record at the open of business on August 31, 2026. Class I Shares: $0.1875 per share (no servicing fee; net $0.1875). Class S Shares: $0.1875 gross, $0.0171 estimated servicing/distribution fee, net $0.1704. Distributions may be paid in cash or reinvested under the Fund’s reinvestment plan.

Key Details

• Portfolio size and composition (as of July 31, 2026): 455 portfolio companies; total fair value ≈ $9.6 billion. Investment mix: First lien senior secured 96%, junior debt 1%, equity & other 3%.
• Interest rate profile: ~99% of debt investments (by fair value) are floating-rate; seven debt investments (~1% of debt fair value) are fixed-rate.
• Financials and leverage: Aggregate NAV ≈ $4.3 billion; debt & short-term borrowings ≈ $5.2 billion; debt-to-equity leverage ratio 1.22x (GAAP net debt-to-equity 1.19x). NAV per Class I and Class S share: $24.21.
• Public offering status: Continuous public offering up to $10.0 billion. Through Aug 1, 2026 the Fund issued 160,548,766 Class I shares ($4,025,847,508) and 9,383,297 Class S shares ($235,432,294).

Why It Matters

• The declared distributions provide predictable cash (or reinvestment) returns to shareholders; Class S holders see a modest net reduction due to an estimated $0.0171 servicing/distribution fee.
• The portfolio’s heavy weighting in first-lien, floating-rate loans (96% and ~99% of debt) means income is largely tied to short-term rates, which can help preserve yield in a rising-rate environment.
• Leverage levels (≈1.2x) and NAV per share ($24.21) give investors a snapshot of the Fund’s capital structure and scale; the ongoing $10 billion public offering indicates continued capital raising and potential growth in assets under management.