Partners Group Lending Fund, LLC 8-K

What Happened

• Partners Group Lending Fund, LLC filed an 8‑K on April 7, 2026 reporting that its adviser, Partners Group (USA) Inc., entered into an Amended and Restated Expense Support and Conditional Reimbursement Agreement dated April 1, 2026.
• The amendment changes the calculation of the fund’s expense cap so that “Other Operating Expenses” are limited to 1.00% (annualized) of the fund’s net asset value (NAV) instead of 1.00% of Aggregate Capital Commitments under the original August 31, 2023 agreement.

Key Details

• Effective date of the Amended Agreement: April 1, 2026; 8‑K filed April 7, 2026.
• New expense cap: Other Operating Expenses shall not exceed 1.00% (annualized) of the Fund’s NAV.
• Term and renewal: one‑year term, automatically renews for additional one‑year periods unless terminated with 30 days’ written notice.
• Background: Under the original August 31, 2023 agreement, the adviser had waived the Base Management Fee and absorbed portions of operating expenses to meet a 1.00% limit (measured then against Aggregate Capital Commitments).

Why It Matters

• For investors, the amendment shifts how the adviser’s expense support is measured — from capital commitments to NAV — which can change the amount the adviser must absorb when NAV or capital commitments move.
• The 1.00% cap remains in place but tied to NAV, which may affect the fund’s net expenses and reported yields if NAV fluctuates.
• The Amended Agreement is filed as Exhibit 10.1 to the 8‑K for full terms and details.