Nuveen Churchill Direct Lending Corp. reported significant financial growth in its latest 10-Q filing for the period ending September 30, 2024. The company achieved total investment income of $60.3 million for the three months ended September 30, 2024, a substantial increase from $41.7 million in the same period of 2023. For the nine months ended September 30, 2024, total investment income reached $167.0 million, compared to $112.8 million in the prior year. This growth was driven by a rise in interest income, which amounted to $57.3 million for the third quarter, up from $40.4 million a year earlier.

Net investment income also saw a notable increase, with $31.5 million reported for the third quarter of 2024, compared to $21.7 million in 2023. For the nine-month period, net investment income rose to $92.2 million from $58.1 million. The net increase in net assets resulting from operations was $36.6 million for the third quarter, up from $20.1 million in the previous year, and $86.9 million for the nine months, compared to $47.2 million in 2023.

The company's net assets increased significantly to $990.6 million as of September 30, 2024, from $638.9 million a year prior. The net asset value per share slightly improved to $18.15 from $18.13 at the end of 2023. The total fair value of investments rose to $2.05 billion, up from $1.64 billion at the end of 2023, reflecting a robust portfolio expansion.

Strategically, Nuveen Churchill Direct Lending Corp. completed its initial public offering (IPO) on January 29, 2024, raising $99.3 million by issuing 5.5 million shares at $18.05 each. The stock began trading on the NYSE under the symbol "NCDL." The company also initiated a share repurchase plan in March 2024, allowing for the purchase of up to $99.3 million of its outstanding shares when trading below net asset value.

The company’s financing activities were bolstered by secured borrowings, which increased to $1.09 billion as of September 30, 2024, from $943.9 million at the end of 2023. The increase in borrowings was primarily used to fund new investments, which totaled $203.2 million for the third quarter, compared to $150.9 million in the same period of 2023.

As of September 30, 2024, the company had three portfolio companies on non-accrual status, with an aggregate fair value of $11.2 million, representing approximately 0.55% of total investments at fair value. This marked a shift from the previous year when there were no companies on non-accrual status.

Overall, Nuveen Churchill Direct Lending Corp. demonstrated strong financial performance and strategic growth initiatives, positioning itself favorably in the market.