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|8-KFeb 25, 5:32 PM ET

Fortress Private Lending Fund 8-K

Research Summary

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Fortress Private Lending Fund Announces Class I Share Sale, NAV & Feb Distribution

What Happened
Fortress Private Lending Fund filed an 8-K on February 26, 2026 reporting an unregistered sale of 855,330 Class I common shares for aggregate consideration of $20.9 million. The purchase price per share equaled the Company’s net asset value (NAV) per share as of January 31, 2026 ($24.40). The share issuance was finalized on February 20, 2026 and was made to accredited investors under Section 4(a)(2)/Regulation D and other exemptive provisions.

Key Details

  • Unregistered share sale: 855,330 Class I shares for $20.9 million (finalized Feb 20, 2026).
  • NAV and balance sheet (as of Jan 31, 2026): NAV per Class I share $24.40; aggregate NAV ≈ $972.4 million; portfolio fair value ≈ $1.6 billion; debt outstanding ≈ $626.0 million.
  • February distribution: declared Feb 20, 2026 — $0.1708 per Class I share; record date Feb 28, 2026; payable on or about Mar 31, 2026; payable in cash or via distribution reinvestment plan.
  • Portfolio composition (preliminary management data as of Feb 20, 2026): ~80 portfolio companies across 33 industries; ~97.99% first‑lien, floating‑rate debt by fair value; median EBITDA of directly originated borrowers $85.0M; weighted average net LTV 44.27%; interest coverage 3.0x; weighted average yield — directly originated debt 10.05%, overall portfolio 9.66%.
  • Ongoing offering status: Company is continuously offering shares in exempt transactions; to date it has issued 40,532,614 shares for aggregate consideration of ~$1.0 billion (excludes reinvested distributions).

Why It Matters
This 8-K shows the Company is raising capital by issuing Class I shares at NAV and paying a monthly distribution to shareholders, while its portfolio remains heavily weighted to first‑lien floating‑rate loans with mid‑to‑high single‑digit to low double‑digit yields. Key balance-sheet figures (NAV, portfolio fair value, and debt outstanding) and the declared distribution are material items investors may use to assess income generation and financing/leverage. Note these figures are management’s preliminary determinations as of Feb 20, 2026 and may change in the Company’s upcoming Form 10‑Q.