Saratoga Investment Q2 NAV per share falls due to unrealized depreciation on investments
SAR•Saratoga Investment reported Q2 net asset value of $22.15 per share, citing unrealized investment depreciation and dividend distributions exceeding earnings. Assets under management grew 2.1% sequentially to $1.15 billion, while the company reported a $0.41 loss per share.
1. Q2 results
Saratoga Investment’s net asset value per share fell to $22.15, mainly due to unrealized depreciation on investments and dividend distributions exceeding earnings. The company reported a Q2 loss of $0.41 per share and assets under management of $1.15 billion, up 2.1% sequentially.
2. Income and outlook
Adjusted net investment income per share declined slightly from the prior quarter, mainly reflecting higher interest expense, lower other income and higher management fees. Saratoga said market conditions remain volatile, with significant competition in private credit, and expects to remain selective in deploying capital amid economic uncertainty.
