Saratoga Investment reports Q1 EPS 61c, consensus 55c
As of May 31, Saratoga Investment increased its assets under management to $343.4M, an increase of 0.2% from $342.7M as of February 28, and an increase of 4.1% from $329.7 million as of May 31, 2017. The increase this quarter reflects originations of $35.2M, offset by repayments and amortizations of $36.5 million that were primarily non-accrual or lower yielding syndicated investments. Including realized and unrealized gains, Saratoga Investment's portfolio has continued to grow this quarter and remains strong, with a continued high level of investment quality in loan investments, with 99.3% of our loans this quarter at our highest internal rating. Included in this quarter's originations are also three investments in new portfolio companies. Since Saratoga management has taken over the management of the BDC, $296.9 million of repayments and sales of investments originated by Saratoga have generated a gross unlevered IRR of 13.4%.