#United States #New York #T. Rowe Price #Private Credit Fund #OHA Select

Financial Overview of T. Rowe Price OHA Select Private Credit Fund for Q2 2026

T. Rowe Price OHA Select Private Credit Fund, commonly referred to as OCREDIT, has released significant financial results for the second quarter ending June 30, 2026. Notably, the fund declared a total distribution of $0.60 per share, reflecting a robust strategy in navigating the private credit market.

Key Highlights

In this quarter, OCREDIT made substantial investments, expanding its portfolio by adding seven new companies across diverse industries, leading to a net growth of approximately $124 million. With an impressive $3.1 billion investment portfolio now consisting of 144 companies distributed over 25 sectors, the fund is effectively positioned within the private capital space. The weighted average portfolio yield is stated at 9.8%, demonstrating the efficacy of OCREDIT's investment approach.

Eric Muller, CEO of OCREDIT, emphasized the strong fundamentals of borrowers and the ongoing demand for private capital as key enablers for a compelling investment landscape. He remarked, “The second quarter reinforced our conviction in private credit.” This confidence is reflected in OCREDIT's inception-to-date annualized total return of 10.58%.

Financial Results Breakdown

Reporting $0.61 net investment income per share and $0.41 in earnings per share, OCREDIT showcases its strong financial health. The declared total distribution of $0.60 corresponds to an annualized distribution rate of 9.2%. The net asset value per share dwindled slightly to $25.96 from the previous quarter.

• - Net Investment Income: $38.3 million
• - Non-controlled investments' total value: $3.1 billion
• - Debt-to-equity ratio maintained at 0.93x

During this quarter, OCREDIT executed new issuances of common shares, raising a total of $13.3 million from Class I common shares, alongside $5.2 million from Class S and $13.9 million from Class D common shares. Additionally, in a strategic move, OCREDIT entered an Indenture to issue new Notes valued at $400 million, set to mature by July 2031, with a fixed interest rate of 6.50%.

Investment Activities and Sector Exposure

In their generous investment strategy, OCREDIT executed fundings totaling $176.1 million for the quarter. They particularly focused on seven new companies, investing in their future potential while also maintaining existing relationships through $61.4 million allocated to current investments in their growing portfolio. Additionally, repayment and sales amounted to $52.1 million during the quarter.

OCREDIT's portfolio is primarily characterized by 90.8% first lien loans, a strategic focus that underscores its risk management approach in lending. This consistent strategy amidst fluctuating market conditions allows investors a unique opportunity to engage with private credit markets, which have been traditionally limited to institutional investors.

Conclusion

Reflecting on this quarter's accomplishments, OCREDIT remains steadfast in its objective to deliver attractive risk-adjusted returns while maintaining a focus on risk management through a variety of tailored private financing solutions. As it continues to adapt to the market environment, the firm’s latest results position it for potential growth moving forward.

For more detailed insights and to keep track of future financial statements, investors and interested parties are encouraged to visit OCREDIT's website.

This report emphasizes the resilience and adaptability of OCREDIT amidst the evolving credit landscape, affirming its position as a pivotal player in private credit investment.