Crescent Private Credit Income Corp. Declares Special Distribution, Reports Zero Q2 Tender Requests
Crescent Private Credit Income Corp. declared a special distribution of $0.045 per share alongside a regular distribution of $0.165 per share for June, bringing the combined payout to $0.21 per Class I share – with the special component representing more than 21% of the total. The distributions are payable on or about July 31 to shareholders of record as of June 30.
The Los Angeles-based nontraded business development company did not disclose the specific rationale for the special distribution. The fund’s first-quarter results showed net investment income of $10.7 million against $11.4 million in Class I distributions, with the income-based incentive fee fully waived during the period. The fund had a net asset value per share of $26.32 as of May 31, up from $26.27 at March 31 but below the $27.06 recorded at year-end 2025.
The special distribution declaration came on the same day the fund reported that its second-quarter tender offer drew zero valid redemption requests. The offer, which ran from May 26 through June 24, made available for repurchase up to 1,023,865 shares at May 31 NAV. No shares were tendered.
The result stands in contrast to sector-wide redemption pressure that has defined the nontraded BDC landscape this quarter. Ares Strategic Income Fund reported second-quarter tender demand of 14.4% of shares outstanding — nearly three times its 5% cap. Blackstone Private Credit Fund reported demand of 10%. Apollo Debt Solutions BDC disclosed demand of approximately 16.8%. Crescent’s shareholder base is concentrated in Class I shares, which the fund has said were placed largely through institutional and high-net-worth channels — a composition that may account for the divergent result.
The fund’s capital raise has accelerated in parallel. Total consideration raised since inception reached $557.6 million as of June 25, up from $543.2 million at the end of April – an increase of roughly $14 million in new subscriptions over the intervening period. Net assets grew to approximately $549 million as of May 31, compared with $187.9 million a year earlier, as the fund nearly tripled in size over the past four quarters.
The fund launched a new $3 billion continuous public offering effective April 29, 2026, succeeding an earlier registration. It had fair value of portfolio investments of approximately $954.6 million as of May 31 and principal debt outstanding of $430.6 million, a debt-to-equity ratio of approximately 0.78 times.
Crescent Private Credit Income Corp. is externally managed by Crescent Cap Advisors, LLC, an affiliate of Crescent Capital Group, a Los Angeles-based alternative credit manager.
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