NII was positively impacted by continued capital deployment, rotation into higher yielding floating rate investments and lower expenses. Net assets were $84.8M, or $11.16 per share, on December 31, 2022, as compared to $95.5M, or $12.56 per share, on September 30, 2022, and $74.6M, or $16.63 per share, on December 31, 2021. "During the fourth quarter, we generated the highest amount of cash income from interest, dividends and fees in the company’s history," said Matt Kaplan, GECC‘s CEO. "Our capital deployment program and focus on senior secured, floating rate investments has increased NII materially from the prior quarter. In addition, we made significant progress in expanding our specialty finance platform with the formation and funding of Great Elm Healthcare Finance alongside an affiliate of Berkadia, our strategic minority partner. With a growing and diversified portfolio of cash-generating investments, we believe we are well positioned to cover our quarterly dividend during the course of the year."
Published first on TheFly
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