(DumbMoney)

Explore the latest updates and key analyses on companies, markets, and industry trends.


GCRED Q3 2025 Quarterly Update: Portfolio Strength Amid Credit Stress

Golub Capital (GCRED) | September 30, 2025

By Julia Hall

image

GCRED's investment portfolio remains strong amid elevated credit stress in the market.

Approximately 98% of investments are in the strongest internal risk categories, indicating stable borrower performance.

GCRED's performance reflects resilience in both private and liquid credit markets.

Stable Investment Portfolio

98% of investments in rating categories 4 and 5, with only 0.03% on non-accrual.

Performance Metrics

Solid returns with annualized ITD net return at 10.62% and Class I shares generating a 2.2% quarterly return.

Strategic Focus

GCRED's focus on disciplined underwriting and partnership-oriented borrowers enhances stability and reliability.

  • GCRED's ability to lend across various borrower sizes provides a competitive advantage in sourcing resilient businesses.
  • The net fund growth of approximately $1.9 billion in the quarter showcases GCRED's market stability and growth potential.

In conclusion, GCRED's Q3 2025 update highlights a resilient investment portfolio and strategic focus on sustainable growth amidst market challenges.