Kennedy Lewis Capital Company Lowers Minimum Initial Investment for Class I Shares
Kennedy Lewis Capital Company, a non-traded business development company providing senior secured lending solutions, lowered the minimum initial investment for its Class I shares from $1 million to $2,500. As of May 31, 2025, the fair value of the BDC’s investment portfolio was $1.03 billion, an approximate 19.6% increase from the nearly $864.56 million fair value in April.
Also as of the end of May, the company’s aggregate net asset value was approximately $545.81 million. This was a 1.14% decrease from aggregate NAV at the end of April: $552.08 million.
The BDC’s NAV per share of each class as of May 31 was as follows:
Class I shares had a NAV per share of $19.86, compared to $20.15 per share the previous month, an approximate 1.44% decrease.
Class S shares had a NAV per share of $19.85, compared to $20.15 per share the previous month, an approximate 1.49% decrease.
The BDC, which began operations in February 2023, focuses primarily on providing senior secured lending solutions to the growing number of high-quality U.S. middle market companies in need of alternative sources of funding, with a focus on non-sponsor backed opportunities.
As of March 31, 2025, its portfolio consisted of 93% floating rate loans, measured as a percentage of the fair market value of all debt investments; and 89% senior secured debt, measured as a percentage of the fair market value of all investments.
Its investment strategy seeks to maximize the total return to its shareholders in the form of current income and, to a lesser extent, capital appreciation by targeting private, directly originated, first lien, senior secured lending opportunities. The company seeks to make quarterly distributions to shareholders.
As of May 2025, it had generated a 10.56% current annualized distribution yield.
The BDC is externally managed by Kennedy Lewis Investment Management LLC, an alternative investment firm focused on credit strategies with over $28 billion of assets under management.
Kennedy Lewis Capital Company’s management fee is 1.25% per annum on NAV. Its incentive fees are: 12.5% of net investment income, subject to a 5% hurdle rate and a full catch-up paid quarterly; andn12.5% of realized gains net of realized and unrealized losses.
The company is publicly offering on a continuous basis up to $2 billion in shares. As of June 1, 2025, it has sold Class I and Class S shares equal to $198.63 million. Additionally, the company has sold common shares in a private offering equal to $313.46 million. The BDC intends to continue selling shares in the offering on a monthly basis.
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