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Metrics Cuts Shareholder Distributions as Billion-Dollar Funds Stay Suspended
Metrics Credit Holdings cuts shareholder distributions while its billion-dollar funds remain suspended.
Key points
- Metrics Credit Holdings cut shareholder distributions from $25 million to $15 million over the past year.
- The cut came even though the company's reported profits doubled.
- Accounts of several Metrics wholesale funds have not yet been signed off amid the unresolved KPMG dispute.
Why it matters. Shareholders are receiving less cash from Metrics Credit Holdings while the auditor dispute and unsigned wholesale fund accounts remain unresolved.
Metrics Credit Holdings, parent of the $40 billion private credit giant, has cut distributions to its shareholders from $25 million to $15 million over the past year. The cut came even as the company's reported profits doubled. The private credit fund is embroiled in a stand-off with its auditor KPMG, a dispute that has still not been completely resolved. The accounts of several Metrics wholesale funds have yet to be signed off.
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Metrics Cuts Shareholder Distributions as Billion-Dollar Funds Stay Suspended
Metrics Credit Holdings, the parent company of the $40 billion private credit group, has cut distributions to its shareholders from $25 million to $15 million over the past year. The cut came even though the company's reported profits doubled. Billions of dollars invested in its wholesale funds remain suspended. The suspension is tied to a stand-off between Metrics and its auditors, which is continuing. The dispute has left investors waiting for clarity on the value and operation of the funds.