Bcp Investment Corporation · NASDAQ:BCIC
Bcp Investment — Q4 2025 Earnings Presentation
19 slides from Bcp Investment's earnings presentation, Mar 6, 2026
Slide 1: BCP Investment Corporation Q4 2025 Earnings Presentation
BCP Investment Corporation Q4 2025 Earnings Presentation March 6, 2026
Slide 2: Important Information
Important Information Cautionary Statement Regarding Forward-Looking Statements This presentation contains forward-looking statements. The matters discussed in this presentation, as well as in future oral and written statements by management of BCP Investment Corporation (“BCIC” or the “Company”), t
Slide 3: Quarterly Highlights
Quarterly Highlights Fourth Quarter 2025 • Core investment income(1) of $14.2 million for the fourth quarter, as compared to $15.3 million for the third quarter of 2025. • Net investment income of $7.4 million ($0.57 per share) for the quarter, compared to $8.8 million ($0.71 per share) for the thir
Slide 4: Recent Milestones & Upcoming Initiatives
Quarterly Highlights Recent Milestones & Upcoming Initiatives Merger and Rebranding: ▪ On July 15, 2025, the Company closed its merger with Logan Ridge Finance Corporation (“LRFC Acquisition”) and, following a rebrand in August, began operating as BCP Investment Corporation, continuing to trade on N
Slide 5: Financial Highlights
Financial Highlights For the Three Months Ended (Dollar amounts in thousands) December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 Total Investment Income $14,392 $12,118 $12,630 $18,940 $17,464 Less: Purchase discount accretion (25) (16) — (3,618) (3,261) Core investm
Slide 6: Repayment Activity
Repayment Activity Over the last three years, BCIC has experienced an average of ~$0.3 million in income related to repayment / prepayment activity. Core Paydown Income(1) By Quarter (in Thousands) 1,000 900 800 700 600 500 400 Quarterly Average: $297 300 200 95 100 - Dec-22 Mar-23 Jun-23 Sep-23 Dec
Slide 7: Core Earnings Analysis
Core Earnings Analysis For the Three Months Ended (Dollar amounts in thousands) December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 Interest Income: Non-controlled/non-affiliated investments $9,145 $7,300 $8,463 $13,295 $13,146 Non-controlled affiliated investments 1,
Slide 8: Net Asset Value Roll Forward
Net Asset Value Roll Forward For the Three Months Ended (Dollar amounts in thousands) December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 NAV, Beginning of Period $187,982 $178,493 $173,511 $164,729 $231,304 Net investment income 5,539 4,340 4,557 8,848 7,387 Net real
Slide 9: BCIC Portfolio Composition
BCIC Portfolio Composition As of December 31, 2025 Key Statistics Diversification by Borrower(3) 4.6% 4.5% Top 5 Borrowers Key Statistics Borrower 1 4.3% 21.1% 4.0% Total Investments at Fair Value $501.0 million Borrower 2 3.7% Weighted Average Annualized Yield on Investments(1) 12.9% Borrower 3 38.
Slide 10: Portfolio Trends
Portfolio Trends(1)(2) As of December 31, 2025 As of (Dollar amounts in thousands) December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 Portfolio Sourcing (at Fair Value): BC Partners $317,588 $326,614 $322,989 $425,230 $391,331 Legacy KCAP 20,291 18,917 16,814 14,028
Slide 11: Credit Quality
Credit Quality As of December 31, 2025 As of December 31, 2025, thirteen of the Company’s debt investments, attributable to ten portfolio companies, were on non-accrual status and represented 4.0% and 7.1% of the Company’s investment portfolio at fair value and amortized cost, respectively. As of (D
Slide 12: Portfolio Composition
Portfolio Composition(1) As of December 31, 2025 As of (1) Investment Portfolio (Dollar amounts in thousands) December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 First Lien Debt $289,957 $294,379 $291,071 $386,403 $344,126 Second Lien Debt 28,996 28,724 30,276 38,994
Slide 13: Appendix
Appendix BCP Investment Corporation
Slide 14: Consolidated Statements of Assets and Liabilities
Consolidated Statements of Assets and Liabilities As of December 31, 2025 and December 31, 2024 As of (Dollar amounts in thousands) December 31, 2025 December 31, 2024 ASSETS Non-controlled/non-affiliated investments (amortized cost of $433,213 and $358,153, respectively) $409,735 $327,622 Non-contr
Slide 15: Consolidated Statements of Operations
Consolidated Statements of Operations For the Year Ended December 31, (Dollar amounts in thousands) 2025 2024 2023 INVESTMENT INCOME Interest income: Non-controlled/non-affiliated investments $42,204 $45,036 $55,675 Non-controlled affiliated investments 3,604 1,859 2,728 Total interest income $45,80
Slide 16: Financing Profile
Financing Profile Overview of Balance Sheet Financing Facilities As of December 31, 2025 Principal Amount Committed (in mm) Principal Amount Outstanding (in mm) Interest Rate Maturity Date Great Lakes Credit Facility $200.0 $107.6 Floating / SOFR + 2.50% August 2027 2026 Notes $50.0 $50.0 Fixed / 5.
Slide 17: Historical Dividend Yield
Historical Dividend Yield Dividends & Dividend Yield Based on NAV Per Share for Respective Quarter 13.6% $0.80 13.0% 12.2% 12.2% 12.1% 12.2% 11.7% 11.2% 11.1% 11.0% 11.3% $0.70 10.2% 10.0% 8.9% 9.0% 9.2% 10.0% 8.4% 8.7% 8.8% 8.3% 8.2% 8.2% 8.3% 6.8% 7.1% 7.7% $0.60 $0.50 $0.07 5.0% $0.02 $0.40 $0.67
Slide 18: Historical Dividend Information
Historical Dividend Information Declaration Date Record Date Paym entDate Dividend Type Dividend PerShare Declaration Date Record Date Paym entDate Dividend Type Dividend PerShare 3/5/2026 6/15/2026 6/30/2026 Base $0.09 3/9/2023 3/20/2023 3/31/2023 Base $0.68 3/5/2026 5/15/2026 5/29/2026 Base $0.09
Slide 19: Corporate Information
Corporate Information Board of Directors Senior Management Research Coverage Ted Goldthorpe Ted Goldthorpe Paul Johnson Interested Director and Chairman of the Board Chief Executive Officer Keefe Bruyette & Woods Patrick Schafer Brandon Satoren Erik Zwick Interested Director Chief Financial Officer