CEO Indranil Basu attributed the improved performance to tightening spreads across the capital structure, which allowed the company to execute a broader refinancing program and lower its debt costs. While the firm remains cautious about declaring a definitive turn in the market cycle, leadership expressed a constructive outlook regarding future opportunities within CLO equity.
Pearl Diver Credit Company Reports Q2 Net Asset Value Growth
Pearl Diver Credit Company saw its net asset value per share climb to $11.15 in the second quarter of 2026, up from $10.48 in the previous quarter. The firm reported a GAAP net income of $8.5 million as market conditions for collateralized loan obligations showed signs of recovery.
The quarterly results represent a significant swing from the preceding three-month period, which saw a net loss of $22.5 million. The latest figures show a net change in unrealized appreciation on investments of $6.7 million, compared to a depreciation of $25.1 million in the first quarter. As of June 30, the company maintained leverage of 32.9% of total assets, down from 35.0% in March. Looking ahead, the company has declared monthly dividends of $0.13 per share for September, October, and November 2026.
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