AB Private Lending Fund 8-K

What Happened
AB Private Lending Fund filed an 8‑K on March 19, 2026 reporting three principal items: (1) an unregistered sale of Class I common shares (finalized March 19, 2026) to feeder vehicles under Section 4(a)(2) and/or Regulation S; (2) declaration of the Fund’s March 2026 distributions; and (3) the Fund’s net asset value (NAV) and offering status as of February 28, 2026. The unregistered sale as of March 2 (final number set March 19) was 56,332 Class I shares for $1,408,296.50. The Fund declared a $0.20 per share gross (and net) distribution for Class I shares, payable to holders of record March 31, 2026 and payable on or about April 30, 2026 (cash or reinvested). As of February 28, 2026 the NAV per Class I share was $25.00; aggregate NAV was about $167.6 million, investment portfolio fair value about $360.6 million, and debt outstanding (principal) about $198.5 million. The Fund is conducting a continuous public offering of up to $1.0 billion of Shares and continues to sell shares in the separate private offering.

Key Details

• Unregistered sale: 56,332 Class I shares (finalized Mar 19, 2026) for $1,408,296.50 to feeder vehicles; offering exempt under Section 4(a)(2) and/or Regulation S.
• Distribution: Class I gross/net distribution of $0.20 per share declared Mar 19, 2026; record date Mar 31, 2026; pay date on/about Apr 30, 2026; cash or DRIP.
• NAV and balance sheet (as of Feb 28, 2026): Class I NAV $25.00; aggregate NAV ≈ $167.6M; portfolio fair value ≈ $360.6M; debt outstanding ≈ $198.5M (principal).
• Offering status: Continuous public offering up to $1.0B; Private Offering to date shows 6,712,185 Class I shares issued for $168,399,353.21.

Why It Matters
These disclosures affect shareholders' view of the Fund’s capital activity and income: the declared $0.20 distribution is the near‑term cash or reinvestment return for Class I investors. The NAV and portfolio vs. debt figures give a snapshot of the Fund’s leverage and size (portfolio value notably exceeds outstanding principal debt). The unregistered private sales (to feeder vehicles) and the ongoing public Offering indicate continued capital raising, which can affect share count and capital available for lending activities. All actions reported are factual operational and capital‑raising items; investors should consider record dates, payment timing, and any personal tax or portfolio implications.