Barings Private Credit Raises $27.8 Million as NAV Edges Down to $19.91

The direct lender earned 51 cents a share in net investment income for the third quarter and ended September with $2.56 billion of debt outstanding against $2.84 billion of net assets.

October 22, 2026

Barings Private Credit Corporation brought in about $27.8 million in its October subscription round, a larger monthly raise than September's, while its net asset value per share slipped a penny to $19.91 as of September 30, 2026.

The Charlotte, North Carolina-based business development company sold 1,394,111.668 unregistered shares of common stock as of October 1, with the final share count determined on October 21. The shares were sold under subscription agreements through the company's continuous private offering, at a price set under Section 23 of the Investment Company Act. In September, the company raised about $22.0 million and held net asset value at $19.92 per share as of August 31.

Third-Quarter Snapshot

The company reported these figures as of September 30:

• Net asset value of $2,843.3 million
• Investment portfolio at fair value of $5,247.8 million
• Debt outstanding of $2,562.2 million, at principal
• Net investment income of $0.51 per share for the three months ended September 30

Distribution Unchanged

The board declared a regular monthly distribution for November 2026 of $0.167 per share gross, payable November 25 to stockholders of record on November 23, the same gross rate it set for October.

Offering and Redemptions

The private offering remains open for up to $4.5 billion in common stock, and the company intends to keep selling shares monthly. It now reports 140,622,172.61 shares issued in the offering for total consideration of $2,901.4 million, figures that exclude dividend reinvestment shares.

The new subscriptions arrive as redemption demand runs ahead of the company's quarterly repurchase cap. In the tender offer that expired September 30, Barings Private Credit accepted 7,080,516 shares, equal to 5% of shares outstanding as of June 30, and filled tendering investors at roughly 46.84% of the shares they submitted, the third straight quarter of proration. Accepted shares are repurchased at net asset value as of September 30.

The disclosure was signed by Elizabeth A. Murray, the company's Chief Financial Officer and Chief Operating Officer.