WhiteHorse Finance ( (WHF) ) has released its Q3 earnings. Here is a breakdown of the information WhiteHorse Finance presented to its investors.
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WhiteHorse Finance is a business development company that focuses on originating and investing in loans for privately held, lower middle market companies across various industries, managed by H.I.G. WhiteHorse Advisers, LLC, an affiliate of H.I.G. Capital.
In its third-quarter earnings report, WhiteHorse Finance announced a distribution of $0.385 per share and highlighted its ongoing efforts to maintain core net investment income above its regular dividend, despite challenges with certain portfolio credits. The company continues to focus on stable, performing investments with competitive advantages in less crowded market segments.
The financial results for the quarter ended September 30, 2024, showed a slight decrease in total investment income to $22.85 million, and net investment income per share was $0.394. The portfolio had a fair value of $654.3 million, with a weighted average effective yield of 10.6% on income-producing debt investments. Notably, WhiteHorse Finance made investments totaling $49 million and continued to manage its portfolio through strategic sales and repayments.
Looking forward, WhiteHorse Finance remains committed to its rigorous underwriting standards, focusing on investments with positive cash flow and limited cyclicality. The company’s strategic positioning in less competitive market areas is expected to provide stable performance in the upcoming quarters.
