Antares Private Credit Fund Lifts Debt to $936.7M as NAV Holds at $24.69

The non-traded BDC also declared a $0.1887 per-share distribution, and its continuous public offering has now brought in $841.9 million.

October 28, 2026

Antares Private Credit Fund increased its borrowing in September, reporting approximately $936.7 million in principal debt outstanding as of September 30, up from approximately $903.3 million at the end of August. Net asset value per share for its Class I shares, the only class outstanding, was $24.69, compared with $24.70 at August 31 and $24.69 at April 30.

Leverage and Net Assets

The fund's debt-to-equity ratio rose to about 1.13 times NAV as of September 30 from about 1.10 times a month earlier. Its net leverage ratio, which subtracts cash, foreign currencies and short-term investments from debt before dividing by NAV, moved to about 1.08 times from about 1.07 times.

Both readings remain below the levels the fund reported as of April 30, when it carried approximately $946.3 million in principal debt against aggregate NAV of approximately $802.8 million, for a debt-to-equity ratio of about 1.18 times and net leverage of about 1.12 times.

Aggregate NAV reached approximately $827.3 million as of September 30, compared with approximately $820.9 million at August 31. Loan commitments totaled approximately $2,064.0 million, up from approximately $2,051.2 million.

Distribution and Offering

On October 23, the fund declared a regular distribution of $0.1887 per share, payable to shareholders of record as of that date and scheduled to be paid on or about November 30. Shareholders enrolled in the distribution reinvestment plan will receive the payment in additional shares.

The fund continues to offer up to $2.0 billion in shares on a continuous basis, selling monthly at a price generally equal to NAV per share. Through the October 1 subscription date, it had issued 33,637,356 Class I shares for total consideration of $841,932,564, a tally that excludes shares sold through the reinvestment plan. Through the September 1 subscription date, the comparable totals were 33,522,774 shares and $839,103,532.