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Dec 31, 2021
Whitehorse Finance Q4 2021 Earnings Report
Whitehorse Finance's Q4 2021 performance was highlighted by record capital deployments and a successful primary offering, resulting in increased net investment income.
Key Takeaways
WhiteHorse Finance reported a net investment income of $7.5 million, or $0.331 per share, and a core net investment income of $7.3 million, or $0.322 per share, for the fourth quarter of 2021. The company deployed $199.2 million in gross investments and successfully completed a primary offering, generating net proceeds of approximately $33.7 million.
Net Asset Value of $349.8 million, or $15.10 per share.
Investment portfolio totaling $819.2 million.
Gross investment deployments of $199.2 million for the fourth quarter, including new originations of $181.3 million and $17.9 million of fundings for add-ons to existing investments.
Net investment income of $7.5 million, or $0.331 per share, for the fourth quarter.
Whitehorse Finance
Whitehorse Finance
Forward Guidance
The lending market remains active and competitive, with pricing, leverage and documentation terms beginning to return to pre-COVID levels. Our pipeline for future deal flow is at an all-time high due in part to our differentiated three-tiered sourcing approach and relationship with the leading H.I.G. platform. This has allowed us to adhere to our disciplined deal sourcing and rigorous underwriting standards to maintain and grow a healthy portfolio, generating robust cash flows to support our dividend and ultimately creating value for our shareholders
Positive Outlook
- The lending market remains active and competitive.
- Pricing, leverage and documentation terms beginning to return to pre-COVID levels.
- Pipeline for future deal flow is at an all-time high due in part to our differentiated three-tiered sourcing approach and relationship with the leading H.I.G. platform.
- Adherence to disciplined deal sourcing and rigorous underwriting standards.
- Ability to maintain and grow a healthy portfolio, generating robust cash flows to support our dividend and ultimately creating value for our shareholders