Antares Private Credit Fund, a publicly registered non-traded business development company sponsored by Antares Capital, declared a regular distribution of $0.1858 per share, along with a special distribution of $0.0258 per share, payable to shareholders of record as of April 30, 2025.
These distributions will be paid on or around May 29, 2025, either in cash or reinvested in additional shares for those participating in the distribution reinvestment plan, or DRIP
The company also provided an update on its net asset value and portfolio as of March 31, 2025.
At the close of the quarter, Antares also reported a per share NAV of $25.11 for its Class I shares, a minimal 0.04% decrease from the previous month. The company’s aggregate NAV stood at approximately $638.8 million, a 0.11% increase from the previous month’s $638.1 million.
The company’s portfolio included loan commitments totaling approximately $1.42 billion. Principal debt outstanding was reported at approximately $456.1 million, resulting in a debt-to-equity NAV ratio of approximately 0.71 times.
Regarding its public offering, the company received approximately $4 million in subscriptions for its Class I shares from unaffiliated investors, as of May 1. It is currently conducting a continuous public offering to sell up to $2 billion in shares.
The BDC, which publicly launched in February 2025 with more than $1.4 billion in investable capital, seeks to invest in a diverse portfolio of sponsor-backed senior secured loans to primarily U.S. borrowers. Its investment objective is to provide risk-adjusted returns and current income to shareholders by investing primarily in loans to U.S. borrowers. The fund is managed by Antares Capital Credit Advisers LLC and available through financial advisers across the United States.
Despite its relative newness to the alternative investments landscape, the fund recently experienced leadership changes. Venugopal Rathi recently resigned from his position as chief financial officer of the company. The company’s board rapidly appointed Monica Kelsey as the new CFO, as well as principal accounting officer of the company.
Kelsey also serves as chief financial officer of Antares Capital and is a member of the Antares Capital executive committee.
Prior to joining Antares in 2022, she was managing director and chief financial officer at Madison Capital Funding LLC, a company with whom she held various positions between 2004 and 2022. Previously, she was executive director and head of global finance at UBS Global Asset Management from 2000 to 2004. Kelsey began her career with the audit firm of PricewaterhouseCoopers.
Kelsey earned a bachelor’s degree in accounting/computer information systems from Murray State University and an M.B.A. from Northwestern University Kellogg Graduate School of Management. She has more than 31 years of industry experience.
Antares Capital is an alternative credit manager with approximately $81 billion in capital under management and administration as of Dec. 31, 2024. The firm maintains offices in Atlanta, Chicago, Los Angeles, New York, Toronto and London.
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