Audax Private Credit Fund, LLC
www.audaxprivatecreditfund.comAI Executive Summary
AI-powered analysis of 10-Q filing content
Audax Private Credit Fund shows concerning deterioration in Q1 2026 with NAV declining from $25.06 to $24.69 per share, negative total distributable earnings of $6.8M versus positive $1.0M prior quarter, and substantial unrealized losses of $7.9M on investments. While investment income increased 27% year-over-year, rising leverage costs and portfolio valuation declines signal credit stress.
Red Flags Detected (6)
NAV per share declined 1.5% from $25.06 to $24.69 in one quarter
Total distributable earnings turned negative at $(6.8)M from positive $1.0M
Unrealized losses on investments of $7.9M indicating portfolio stress
3 more red flags detected
Key Takeaways
Investment income grew strongly (+27% YoY) but unable to offset valuation losses
Portfolio showing stress with $7.6M unrealized losses on non-affiliated investments
2 more takeaways
Filing Overview
What This Means
Deteriorating Trend: Conditions are worsening compared to previous filings. This may create opportunities for service providers.
Quarterly Report: Interim filing with unaudited financial data for the quarter.