As of September 30, 2024, Goldman Sachs BDC, Inc. reported total investments at fair value of $3,442.13 million, a slight increase from $3,414.33 million at the end of the previous fiscal year. Total assets rose to $3,545.49 million from $3,522.82 million, while total net assets decreased to $1,586.09 million from $1,601.83 million. The net asset value (NAV) per share fell from $14.62 to $13.54 during the same period.
Investment income from non-controlled/non-affiliated investments for the third quarter of 2024 was $97.92 million, down from $109.12 million in Q3 2023. For the nine months ended September 30, 2024, total investment income was $330.57 million, compared to $339.54 million for the same period in 2023. The company reported total expenses of $40.74 million for Q3 2024, a decrease from $45.60 million in Q3 2023, contributing to a net investment income before taxes of $69.67 million, down from $74.45 million year-over-year.
Significantly, Goldman Sachs BDC experienced net realized losses from non-controlled/non-affiliated investments of $(83.80) million in Q3 2024, compared to $(5.18) million in Q3 2023. For the nine months ended September 30, 2024, net realized losses totaled $(133.46) million, up from $(44.39) million in the prior year. The company also reported a net change in unrealized appreciation of $56.06 million for Q3 2024, contrasting with a loss of $(19.90) million in Q3 2023.
The company’s investment strategy remains focused on generating current income and capital appreciation through direct originations of secured and unsecured debt, as well as select equity investments. As of September 30, 2024, the weighted average yield on debt investments at amortized cost was 10.9%, down from 11.8% at the end of 2023. The number of portfolio companies increased to 167 from 144.
Goldman Sachs BDC's outstanding debt as of September 30, 2024, was $2,955 million, with a debt-to-equity ratio of 1.87, down from 1.90 at the end of 2023. The company has also entered into a new equity distribution agreement allowing it to issue shares with an aggregate offering price of up to $200 million, which reflects its ongoing strategy to manage capital effectively.
The company declared a quarterly distribution of $0.45 per share on November 7, 2024, payable on January 27, 2025.
About Goldman Sachs BDC, Inc.
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