The business development company’s senior secured loan portfolio topped $1.4 billion in par value as of late April.

June 1, 2026

Lord Abbett Private Credit Fund raised approximately $9.4 million through the sale of about 379,963 common shares as of May 1, 2026, with the final share count determined on May 26. The shares were priced at $24.78 each and sold through subscription agreements with investors. The fund relied on exemptions from securities registration requirements, using provisions covering private placements and offerings to accredited investors, with each buyer representing that they qualified under the accredited investor standard.

A Growing Senior Secured Portfolio

The Jersey City, New Jersey-based fund, organized in Delaware as an emerging growth company, provided a detailed snapshot of its lending portfolio as of April 30, 2026. By that date, it had extended loans to 56 portfolio companies, held one equity position, and maintained a single joint venture investment.

Key portfolio figures included:

• Total loan commitments of roughly $1,860 million, with par value near $1,395 million
• 96 percent in senior secured debt by par value, with the remaining 4 percent in the joint venture
• 100 percent of debt investments carrying floating interest rates
• 99 percent of commitments held in private senior secured loans

The fund’s borrowers posted a median 12-month EBITDA of $88 million, weighted average net leverage of 5.0 times, and a weighted average yield on debt investments of 9.4 percent at cost. By industry, health care providers and services formed the largest segment at 9.6 percent, followed closely by IT services and electrical equipment.

New Lending Activity

During April, the fund recorded new loan commitments totaling $128.8 million across six issuers, including Bridgepointe Technologies and ClubCorp Holdings, with a combined par value of $88.6 million.

Distribution and Net Asset Value

Separately, the fund declared a distribution of about $0.22 per share to shareholders of record as of May 31, payable on or around June 26. Its aggregate net asset value stood at roughly $716 million as of April 30, equal to a NAV per share of $24.78 — matching the price at which new shares were sold.

The fund cautioned that final figures could change once its financial closing procedures conclude ahead of its quarterly report for the period ending June 30, 2026. These disclosures come amid intensifying regulatory and market scrutiny of private credit valuations and liquidity.