T. Rowe Price OHA Select Private Credit Fund posted a net asset value of $25.96 per share as of June 30, 2026. The figure underscores a balanced capital structure with a sub‑one debt‑to‑equity ratio, making the fund attractive for investors seeking steady income and low leverage risk.

Key Highlights

  • NAV per share stands at $25.96, reflecting the fund’s valuation policy as of June 30, 2026.
  • Aggregate net asset value totals $1,641.8 million, backed by a $3,100.8 million investment portfolio.
  • The fund maintains a continuous public offering capacity of up to $2.5 billion in new shares.

The private credit vehicle announced that its net asset value per share is $25.96, based on the latest valuation as of June 30, 2026. It also disclosed an aggregate NAV of $1,641.8 million, a fair‑value portfolio of $3,100.8 million, and principal debt of $1,518.7 million. These figures translate into a debt‑to‑equity metric close to 0.93, indicating a capital structure that remains comfortably leveraged.

Investors are focusing on this NAV figure and balance‑sheet strength as they assess yield potential ahead of the upcoming August 31 distribution.

NAV AND BALANCE SHEET DETAILS

The $25.96 per‑share valuation results from the fund’s internal methodology, which appraises the fair value of its underlying assets. With a total portfolio assessed at $3,100.8 million, the asset base offers a cushion against market volatility. Debt of $1,518.7 million translates into a debt‑to‑equity figure just under one, a metric closely monitored by credit‑oriented investors.

The blend of high‑quality assets and moderate leverage points to resilience, especially as private credit markets encounter tightening funding conditions. This balance sheet profile may enable the vehicle to uphold its distribution policy without jeopardising capital preservation.

CONTINUOUS OFFERING STRATEGY

The vehicle continues to issue new shares on a rolling basis, with a ceiling of $2.5 billion available for purchase. This open‑ended approach allows fresh capital to flow in as investors seek exposure to private credit yields. Because the offering lacks a fixed termination date, the fund can adjust its capital base in line with market demand and investment opportunities.

The ability to raise up to $2.5 billion provides flexibility to originate additional loans or acquire higher‑return assets, potentially enhancing future distribution levels. Maintaining this sizable issuance capacity signals confidence in growth prospects and the ability to meet investor appetite for alternative credit exposure.

DISTRIBUTION REINVESTMENT PLAN

Shareholders may participate in a distribution reinvestment plan, which automatically redeploys cash payouts into additional shares of the fund. This mechanism compounds returns for investors who opt to reinvest, leveraging $25.96 NAV baseline. By channeling distributions back into the fund, the plan sustains a virtuous cycle of asset growth and income generation.

The choice to receive cash or reinvest also offers flexibility, catering to differing investor liquidity preferences. In a low‑interest‑rate environment, the reinvestment feature may attract investors seeking higher yields than traditional fixed‑income alternatives, reinforcing demand for the fund’s shares.

NEXT CATALYST: AUGUST DISTRIBUTION DATE

The upcoming distribution, slated for approximately August 31, 2026, will be the first payout based on the latest NAV and portfolio performance. This event will provide a tangible benchmark for the fund’s ability to deliver cash returns, allowing investors to assess the effectiveness of its reinvestment plan. Market participants will watch the distribution amount closely, as it may influence secondary‑market pricing and the attractiveness of the ongoing $2.5 billion share offering.

The distribution outcome could also shape expectations for future yield levels, making the August date a critical point of focus for analysts and investors alike.

Analysis based on the Form 8-K filed 29 July 2026; figures verified against the filing.

This article is for informational purposes only and does not constitute financial advice. Please consult a licensed financial adviser before making investment decisions.