Important Notice

This site and the materials herein are directed only to certain types of investors and to persons in jurisdictions where Golub Capital Private Credit Fund ("GCRED") is authorized for distribution.

Complete information about investing in shares of GCRED is available in the prospectus. An investment in GCRED involves risks.

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Performance

As of July 31, 2024

ITD Total Return1

X.X%

Annualized Distribution Rate2

X.X%

ITD** Total Return1

2.83%

Annualized Distribution Rate2

9.7%

ITD** Total Return1

12.16%

Annualized Distribution Rate2

10.5%

Total Net Return1

Share Class
1-Month
3-Month
YTD
1-Yr
ITD

Class I

0.74%

2.41%

6.34%

11.15%

12.16%

Share Class
1-Month
3-Month
YTD
1-Yr
ITD

Class S

0.64%

2.11%

2.83%

-

2.83%

Historical Distribution* Per Share

Share Class
Year
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
YTD

Class I

2024

$0.2200

$0.2200

$0.2200

$0.2200

$0.2200

$0.2200
$0.22003

-

-

-

-

-

$1.5400

Class I

2023

-

-

-

-

-

-

$0.2100

$0.2100

$0.2100

$0.2100

$0.2200

$0.2200

$1.2800

Share Class
Year
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
YTD

Class S

2024

-

-

-

$0.2022

$0.2022

$0.2022
$0.20223

-

-

-

-

-

$0.8088

* There is no assurance we will pay distributions in any particular amount, if at all. Any distributions we make will be at the discretion of our board of trustees. We may fund any distributions from sources other than cash flow from operations, including, without limitation, the sale of assets, borrowings, return of capital or offering proceeds, and we have no limits on the amounts we may pay from such sources. Distributions may also be funded in significant part, directly or indirectly, from temporary waivers or expense reimbursements borne by the Investment Adviser or its affiliates, that may be subject to reimbursement to the Investment Adviser or its affiliates. The repayment of any amounts owed to our affiliates will reduce future distributions to which you would otherwise be entitled.

Historical Performance

Share Class
Year
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
YTD

Class I

2024

0.68%

1.04%

1.34%

0.82%

1.06%

0.62%

0.74%

-

-

-

-

-

6.34%

Class I

2023

-

-

-

-

-

-

0.86%

1.03%

0.63%

0.84%

1.16%

0.86%

5.50%

Share Class
Year
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
YTD

Class S

2024

-

-

-

0.72%

0.96%

0.52%

0.64%

-

-

-

-

-

2.83%

Historical Price Per Share4

Share Class
Year
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec

Class I

2024

$25.02

$25.06

$25.17

$25.15

$25.19

$25.12

$25.08

-

-

-

-

-

Class I

2023

-

-

-

-

-

-

$25.00

$25.05

$25.00

$25.00

$25.07

$25.07

Share Class
Year
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec

Class S

2024

-

-

-

$25.15

$25.19

$25.12

$25.08

-

-

-

-

-

*The Fund has received an exemptive order from the U.S. Securities and Exchange Commission that permits the Fund to issue multiple classes of Common Shares with, among others, different ongoing shareholder servicing and/or distribution fees.
**The Class I inception date was July 1, 2023 and the Class S inception date was April 1, 2024.

1. Total Net Return is calculated as the change in price per share during the period, plus distributions per share (assuming dividends and distributions are reinvested) divided by the beginning price per share. Returns greater than one year are annualized. All returns shown are derived from unaudited financial information and are net of all expenses, including general and administrative expenses, transaction related expenses, management fees, incentive fees, and share class specific fees, but exclude the impact of early repurchase deductions on the repurchase of shares that have been outstanding for less than one year. Past performance is historical and not a guarantee of future results. The returns have been prepared using unaudited data and valuations of the underlying investments in GCRED’s portfolio, which are estimates of fair value and form the basis for GCRED’s price per share. Valuations based upon unaudited reports from the underlying investments may be subject to later adjustments, may not correspond to realized value and may not accurately reflect the price at which assets could be liquidated.
2. As of July 31, 2024. Annualized Distribution Rate reflects the current month’s distribution annualized and divided by the prior month’s price per share. Distributions are not guaranteed. Past performance is not necessarily indicative of future results. Distributions have been and may in the future be funded through sources other than cash flow. See GCRED’s prospectus for additional information. Please visit GCRED’s website for notices regarding distributions subject to Section 19(a) of the Investment Company Act of 1940. We cannot guarantee that we will make distributions, and if we do we may fund such distributions from sources other than cash flow from operations, including the sale of assets, borrowings, return of capital, or offering proceeds, and although we generally expect to fund distributions from cash flow from operations, we have not established limits on the amounts we may pay from such sources. As of July 31, 2024, 100% of inception to date distributions were funded from cash flows from operations and current estimates do not expect a return of capital. A return of capital (1) is a return of the original amount invested, (2) does not constitute earnings or profits and (3) will have the effect of reducing the basis such that when a shareholder sells its shares the sale may be subject to taxes even if the shares are sold for less than the original purchase price. Distributions may also be funded in significant part, directly or indirectly, from temporary waivers or expense reimbursements borne by the Investment Adviser or its affiliates, that may be subject to reimbursement to the Investment Adviser or its affiliates. The repayment of any amounts owed to our affiliates will reduce future distributions to which you would otherwise be entitled.
3. On May 3, 2024, GCRED’s Board of Trustees (“Board”) declared a dividend in the gross amount of $0.22 per share payable (net of expenses attributable to the respective class of common shares of beneficial interest) on August 30, 2024 for Class I and Class S shareholders of record on July 31, 2024. Amounts displayed may be rounded. The payment of future distributions is subject to the discretion of GCRED’s Board, and there can be no assurance as to the amount or timing of any such future distributions. Distributions are not guaranteed. Distributions may be funded through sources other than GCRED’s cash flow. See GCRED’s Prospectus for more information and GCRED’s website for notices regarding distributions subject to Section 19(a).
4. The price per share is determined in accordance with the Fund’s share pricing policy. The NAV per share is determined quarterly by dividing the value of total assets minus liabilities by the total number of shares outstanding. For each fiscal quarter end, the price per share is the NAV per share as determined by the Fund’s valuation process. For months in which the Fund’s NAV per share is not determined, the price per share is an offering price per share that reflects a price per share that is no less then the then-current NAV per share. Please refer to the Prospectus for disclosures relating to the share pricing policy.

Important Disclosure Information
Certain countries have been susceptible to epidemics or pandemics, most recently Covid-19. The outbreak of such epidemics or pandemics, together with any resulting restrictions on travel or quarantines imposed, has had and will likely continue to have a negative impact on the economy and business activity globally (including in the countries in which GCRED invests), and thereby is expected to adversely affect the performance of GCRED’s investments. Furthermore, the rapid development of epidemics or pandemics could preclude prediction as to their ultimate adverse impact on economic and market conditions, and, as a result, present material uncertainty and risk with respect to GCRED and the performance of its investments or operations.

Summary of Risks

  • We have limited prior operating history and there is no assurance that we will achieve our investment objective.
  • The majority of our portfolio investments will be recorded at fair value as determined in good faith by our board of trustees and, as a result, there could be uncertainty as to the value of our portfolio investments.
  • Because subscriptions must be submitted at least five business days prior to the first calendar day of each month, you will not know the net offering price per share at which you will be subscribing at the time you subscribe.
  • You should not expect to be able to sell your common shares of beneficial interest (“Common Shares”) regardless of how we perform.
  • You should consider that you should not expect to have access to the money you invest for an extended period of time.
  • We do not intend to list our Common Shares on any securities exchange, and we do not expect a secondary market in our Common Shares to develop prior to any listing.
  • Because you should not expect to be able to sell your shares, you should not expect to be able to reduce your exposure in any market downturn.
  • At the discretion of the board of trustees, we intend to implement a quarterly share repurchase program, but only a limited number of shares will be eligible for repurchase and repurchases will be subject to available liquidity, among other significant restrictions. As a result, we cannot guarantee that share repurchases will be available each quarter.
  • An investment in our Common Shares is not suitable for you if you need access to the money you invest.
  • You will bear substantial fees and expenses in connection with your investment.
  • Because the incentive fee is based on the performance of our portfolio, the Investment Adviser may be incentivized to make investments on our behalf that are riskier or more speculative than would be the case in the absence of such compensation arrangement.
  • We cannot guarantee that we will make distributions, and if we do, we may fund such distributions from sources other than cash flow from operations, including the sale of assets, borrowings, return of capital or offering proceeds, and although we generally expect to fund distributions from cash flow from operations, we have not established limits on the amounts we may pay from such sources. Any capital returned through distributions will be returned after the payment of fees and expenses.
  • Distributions may also be funded in significant part, directly or indirectly, from temporary waivers or expense reimbursements borne by the Investment Adviser or its affiliates, that may be subject to reimbursement to the Investment Adviser or its affiliates. The repayment of any amounts owed to our affiliates will reduce future distributions to which you would otherwise be entitled.
  • We use and expect to continue to use leverage, which will magnify the potential for loss on amounts invested in us.
  • We qualify as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act and we cannot be certain if the reduced disclosure requirements applicable to emerging growth companies will make our Common Shares less attractive to investors.
  • We intend to invest in securities that are rated below investment grade by independent rating agencies or that would be rated below investment grade if they were rated. Below investment grade securities, which are often referred to as “junk,” have predominantly speculative characteristics with respect to the issuer’s capacity to pay interest and repay principal. They may also be illiquid and difficult to value.
  • Neither the U.S. Securities and Exchange Commission nor any state securities regulator has approved or disapproved of these securities or determined if the Prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
  • This website must be read in conjunction with the Prospectus in order to fully understand all the implications and risks of an investment in GCRED. This website is neither an offer to sell nor a solicitation of an offer to buy securities. An offering is made only by the Prospectus. Prior to making an investment, investors should read the Prospectus, including the “Risk Factors” section therein, which contain the risks and uncertainties that we believe are material to our business’ operating results.

Forward-Looking Statement Disclosure
Certain information contained in this website constitutes “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue” or other similar words, or the negatives thereof. These may include financial predictions estimates and their underlying assumptions, statements about plans, objectives and expectations with respect to future operations, and statements regarding future performance. Such forward‐looking statements are inherently uncertain and there are or may be important factors that could cause actual outcomes or results to differ materially from those indicated in such statements. Golub Capital believes these factors include but are not limited to those described under the section entitled “Risk Factors”, which are further described in the Prospectus, and any such updated factors included in GCRED’s periodic filings with the U.S. Securities and Exchange Commission, which will be accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this website and in the filings. Golub Capital undertakes no obligation to publicly update or review any forward‐looking statement, whether as a result of new information, future developments or otherwise.

Securities offered through Arete Wealth Management, LLC Member: FINRA/SIPC. Only available in states where Arete Wealth Management, LLC is registered. Arete Wealth Management, LLC is not affiliated with any other entities identified in this communication.

Index Comparison
The volatility and risk profile of the indices presented in this document is likely to be materially different from that of the Fund. In addition, the indices employ different investment guidelines and criteria than the Fund and do not employ leverage; as a result, the holdings in the Fund and the liquidity of such holdings may differ significantly from the securities that comprise the indices. The indices are not subject to fees or expenses and it may not be possible to invest in the indices. A summary of the investment guidelines for the indices presented are available upon request.