Joint VentureMay 5, 2026, 04:18 PM
SuRo Capital Q1 NAV $14.24/share; Board Approves Magnetar JV
AI Summary
SuRo Capital Corp. reported strong financial results for the first quarter ended March 31, 2026, with Net Asset Value (NAV) increasing by an unprecedented 76% quarter-over-quarter to $14.24 per share. The company's Board also approved a significant strategic step: a proposed transition to an externally managed structure through Neostellar Advisors LLC, a joint venture with Magnetar, subject to stockholder approval. This move is expected to enhance investment sourcing and due diligence capabilities, with Magnetar making a $20 million investment in the company.
Key Highlights
- Board approved joint venture with Magnetar to form Neostellar Advisors LLC for external management.
- Net Asset Value (NAV) increased to $14.24 per share as of March 31, 2026.
- NAV per share rose approximately 76% quarter-over-quarter from $8.09 at December 31, 2025.
- Net change in unrealized appreciation of investments was $158.7 million for Q1 2026.
- Net increase in net assets resulting from operations was $155.6 million ($6.13 per share).
- Invested $5 million in Magnetar SPV (TensorWave) and $9.5 million in ClickHouse post-quarter.
- Realized $0.9 million gain from GrabAGun Digital Holdings Inc. exit during the quarter.
- Total investment portfolio fair value was $388.5 million across 36 companies.
Price Impact
More from SSSS