Saratoga Investment reports Q3 adjusted NII 65c, consensus 60c
As of November 30, 2018, Saratoga Investment increased its assets under management to $443.8M, an increase of 13.0% from $392.9M as of August 31, 2018, and an increase of 31.0% from $338.8M as of November 30, 2017. The increase this quarter reflects originations of $73.7M, offset by amortizations and repayments of $23.4M. Saratoga Investment's portfolio has grown this quarter and credit quality remains strong, with a continued high level of investment quality in loan investments, with 98.6% of the loans this quarter at Saratoga Investment's highest internal rating. Included in this quarter's originations is also an investment in one new portfolio company. Since Saratoga management has taken over the management of the BDC, $299.1M of repayments and sales of investments originated by Saratoga have generated a gross unlevered IRR of 13.4%.