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

T. Rowe Price OHA Select Private Credit Fund Q2 2025 Financial Results

On August 7, 2025, the T. Rowe Price OHA Select Private Credit Fund (OCREDIT) declared its financial performance for the quarter ending June 30, 2025. The results are notable for their reflection of continued portfolio growth and strong returns amid market fluctuations.

Financial Highlights

During Q2 2025, OCREDIT reported a total distribution of $0.81 per share, reflecting a dividend yield of 10.2% when excluding special distributions. The fund’s net investment income per share was recorded at $0.69, while earnings per share achieved $0.46.

Notably, the company’s net asset value per share as of June 30, 2025, stood at $26.90, demonstrating the value growth of holdings over the period. The total fair value of investments reached an impressive $2.5 billion, diversified across 124 portfolio companies across 21 sectors.

Portfolio Development

The OCREDIT fund engages actively in private credit, targeting companies that present unique investment opportunities. Throughout Q2 2025, the company successfully added 18 new portfolio companies, accumulating nearly $280.9 million in net growth. Eric Muller, the CEO of OCREDIT, commented on the positive trends, stating, "The improving pace of private market activity relative to the first quarter sets the stage for a strong second half of the year."

Investment Activity

Investment activity saw $497.6 million deployed in Q2 alone, indicating a robust commitment to fostering growth through quality deal flows. This included both funding for new companies and additional investments in existing holdings.

The weighted average yield across the portfolio stood at 10.6%, indicating substantial returns on debt and income-generating assets. The company reported total gross investment fundings of $497.6 million, coupled with principal repayments and asset sales totaling $216.7 million during the quarter.

Financial Ratios and Leverage

The debt-to-equity ratio as of June 30, 2025, was noted at 0.80x, a slight increase from the 0.74x of the preceding quarter. Moreover, OCREDIT maintained total net debt amounting to $1.124 billion while registering a weighted average interest rate on that debt at 6.9%.

The company also initiated an amendment to its CIBC loan agreement, which aims to reduce the applicable interest spread on advances to 1.85% and extend the ramp-up period to November 5, 2025.

Distributions and Future Outlook

Looking forward, OCREDIT declared a regular distribution of $0.20 per share and a supplemental distribution of $0.03 per share, totaling $0.23 for common shareholders. This is slated for payment around August 29, 2025, provided shareholders hold records by July 31, 2025.

The company’s steadfast focus on private credit investment reflects its commitment to generating attractive risk-adjusted returns while managing the inherent risks. As the market for private solutions broadens, T. Rowe Price OHA Select Private Credit Fund continues to align its strategies with growth opportunities across various sectors. OCREDIT's aim is to evolve into a dominant player in private lending, an area historically reserved for institutional investors, making its offerings accessible to a broader audience.

For further details on OCREDIT’s performance and updates, visit www.ocreditfund.com.

Conclusion

T. Rowe Price OHA Select Private Credit Fund's Q2 2025 results highlight its operational growth and robust financial standing in competitive markets. With a diversified portfolio and a clear strategy for future investments, OCREDIT is poised to navigate the complexities of private credit effectively.