Palmer Square Capital cuts private credit fund's value by 10%

Palmer Square Capital BDC Inc.

Palmer Square Capital BDC Inc.

PSBD

0.00

May 6 (Reuters) - Palmer Square Capital Management PSBD.N cut the net asset value per share of its private credit fund by 10% in the first quarter as the firm marked down its software assets, it said on Wednesday.

Investors have taken a closer look at private credit funds' portfolios as advances in artificial intelligence threaten the business models of companies in the software sector.

Loans to software businesses represent about 10% of Palmer Square's investments at fair value as of March 31, according to its quarterly report.


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