Welcome to our dedicated page for Investcorp Cr Mgmt Bdc news (Ticker: ICMB), a resource for investors and traders seeking the latest updates and insights on Investcorp Cr Mgmt Bdc stock.
Investcorp Credit Management BDC Inc (ICMB) is a New York-based financial services firm specializing in private debt and equity investments for middle-market companies. This news hub provides investors and financial professionals with timely updates on ICMB's strategic activities and market developments.
As a centralized resource for ICMB-related news, this page offers comprehensive coverage of key financial events and corporate communications. Users can efficiently track the company's evolving position in the business development sector through verified press releases and objective reporting.
The curated news collection includes updates on portfolio performance, credit management strategies, and regulatory filings, providing insights into ICMB's approach to generating shareholder value through middle-market investments. All content is carefully organized to support informed decision-making for both institutional and individual investors.
Bookmark this page for direct access to ICMB's latest announcements and analysis relevant to private credit markets. Regularly updated content ensures stakeholders maintain informed perspectives on the company's financial trajectory and industry leadership.
Investcorp Credit Management BDC (NASDAQ: ICMB) announced its Q3 financial results for the period ending March 31, 2024. The company reported a net investment income of $2.1 million, or $0.14 per share, and a net increase in net assets from operations of $2.4 million, or $0.17 per share. ICMB achieved a 12.36% weighted average yield on debt investments, increasing from 11.46% in the previous quarter. The Board declared a quarterly distribution of $0.12 per share and a supplemental distribution of $0.03 per share, both payable on June 14, 2024. The company fully realized investments in six portfolio companies, yielding $21.2 million in proceeds with a 17.09% internal rate of return. Net asset value rose slightly to $5.49 per share. Additionally, the company invested $8.9 million in existing portfolio companies, with no new investments made during the quarter.
Investcorp Credit Management BDC (NASDAQ: ICMB) announced a leadership transition with Suhail A. Shaikh being appointed as the new CEO, effective immediately.
Outgoing CEO Michael C. Mauer will remain as Chairman of the Board of Directors and take on the role of Vice Chairman of Private Credit at Investcorp.
Mr. Shaikh has been with Investcorp since January 2023, serving as President since February 2023 and as a Board member since September 2023. Both Mr. Shaikh and Mr. Mauer have been Co-Chief Investment Officers at CM Investment Partners since January 2023, with Mr. Shaikh now becoming the sole Chief Investment Officer at the Adviser.
Mr. Shaikh expressed optimism about the company's position in the current lending environment, which he believes favors alternative lenders like ICMB.
Investcorp Credit Management BDC, Inc. (formerly CM Finance Inc.) (NASDAQ:ICMB) will release its financial results for the quarter ended March 31, 2024 on Tuesday, May 14, 2024. An earnings conference call will be held on Wednesday, May 15, 2024, at 12:00 pm (Eastern Time). Interested parties can participate by dialing (800) 550-9893 5-10 minutes prior to the call.
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