Kayne Anderson BDC, Inc. announced its financial results for the third quarter ended September 30, 2024, reporting net investment income per share of $0.52, an increase from $0.51 in the prior quarter. Total investment income for the quarter reached $57.8 million, up from $52.5 million for the quarter ended June 30, 2024. This growth was primarily driven by additions to the portfolio during the third quarter and the full quarter impact of purchases made in the second quarter.
The company's investment portfolio, at fair value, grew to $1,943,439 thousand, with 110 portfolio companies. The portfolio maintained a high concentration in first lien debt at 98.0% and was 100% floating rate. Non-accrual debt investments remained low at 1.0% of fair value, involving two investments, indicating stable credit quality.
KBDC reported gross new investment commitments of $182,559 thousand and net funded deployment of $99,557 thousand for the quarter. The net asset value per share increased to $16.70 from $16.57 at June 30, 2024. The company also declared a regular quarterly dividend of $0.40 per share for the fourth quarter of 2024.
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