MSC Income Fund nets $11.6 million gain from Centre Technologies exit

The exit concludes a long-term strategy that saw MSC Income Fund support Centre Technologies through seven follow-on acquisitions. Initially entering the business in January 2019 with a $5.2 million package—comprising a revolving credit line, senior secured term loans, and direct equity—the fund increased its total deployment to $12.2 million over the following years. This capital fueled the IT firm’s expansion into managed services, cloud solutions, and cybersecurity.

Financial performance on the deal proved robust. The $11.6 million realized gain, which includes a minority stake in the acquiring entity, exceeded the fund’s March 2026 fair market value estimate by $1.7 million. Combined with $0.5 million in dividends, the fund achieved an internal rate of return of 40.1% on its equity investment alone. When factoring in the total debt and equity package, the firm realized a 23.2% internal rate of return and a 2.4 times money invested multiple.