Crescent Capital BDC, Inc. reported its financial results for the quarter ending September 30, 2024, showing notable growth in investment income and net assets compared to the previous fiscal period. The company’s total assets increased to $1,645.0 million from $1,627.4 million at the end of 2023, with investments at fair value rising to $1,492.3 million, up from $1,465.5 million. Cash and cash equivalents also saw a significant increase, reaching $17.1 million compared to $7.8 million at the end of 2023.

For the three months ended September 30, 2024, Crescent Capital reported investment income of $51.6 million, an increase from $48.2 million in the same period of 2023. For the nine-month period, investment income rose to $150.9 million from $134.2 million year-over-year. However, total expenses also increased, with quarterly expenses rising to $27.5 million from $26.2 million in the prior year, and nine-month expenses increasing to $81.1 million from $73.9 million.

Net investment income for the third quarter was $23.5 million, up from $21.7 million in 2023, while net investment income for the nine months reached $68.5 million, compared to $59.8 million in the previous year. The net increase in net assets resulting from operations for the quarter was $15.3 million, down from $22.6 million in the same quarter of 2023, but for the nine months, it increased to $63.7 million from $53.0 million.

Crescent Capital's net asset value per share rose to $20.20 as of September 30, 2024, from $20.04 at the end of 2023. The company had 14 investments on non-accrual status, representing 1.7% of total debt investments at cost, a decrease from 17 non-accrual investments at the end of 2023.

Strategically, Crescent Capital completed the acquisition of First Eagle Alternative Capital BDC, Inc. on March 9, 2023, which involved a cash and stock transaction. This acquisition has contributed to the company’s growth in assets and investment income. Additionally, the company has maintained compliance with its debt covenants and asset coverage requirements under the 1940 Act.

As of September 30, 2024, total debt stood at $1,181.6 million, with a drawn amount of $864.6 million. The weighted average interest rate for the nine months was 7.23%, up from 6.96% in the previous year. The company also declared a regular cash dividend of $0.42 per share and a supplemental cash dividend of $0.07 per share, reflecting its commitment to returning value to shareholders.