Partners Group Lending Fund Reports Unregistered Unit Sale, NAV & Distribution

What Happened
Partners Group Lending Fund, LLC filed an 8-K (Oct 1, 2026) announcing an unregistered sale of Class I units, its net asset value as of August 31, 2026, a distribution announced Sept. 28, 2026, and a portfolio update. The Fund sold 3,966,155 Class I Units for total consideration of $6,000,000 (units finalized Sept. 25, 2026) pursuant to Section 4(a)(2) and Regulation D exemptions to accredited investors. The Fund reported NAV per Unit of $1.5128 for both Class I and Class M as of Aug. 31, 2026, and aggregate NAV of about $320.3 million (including approximately $224.0 million of debt outstanding).

Key Details

• Unregistered sale: 3,966,155 Class I Units for $6,000,000 (offer effective Sept. 1, 2026; units finalized Sept. 25, 2026).
• NAV & balance sheet: NAV per unit $1.5128 (Aug. 31, 2026); aggregate NAV ≈ $320.3M; debt outstanding ≈ $224.0M.
• Distribution: $0.0285 per common unit (Class I and Class M) announced Sept. 28, 2026; record date Sept. 25, 2026; payable on or about Oct. 30, 2026; payable in cash or reinvested.
• Portfolio snapshot (Aug. 31, 2026): total portfolio $516.9M across 65 borrowers; 94.5% in first-lien/unitranche loans; top industry concentration: Software 25.5%; top 10 individual commitments range ~ $14.9M–$21.0M.

Why It Matters
These items give investors a view of recent capital activity, current NAV, cash return to holders, and portfolio composition. The unregistered Class I sale raised $6.0M of new capital; the announced distribution ($0.0285/unit) equals roughly 1.9% of the Aug. 31 NAV per unit ($1.5128). The portfolio remains heavily weighted to first‑lien loans (94.5%) and is concentrated in North America (97%) with a large software exposure (25.5%), which helps explain the Fund’s credit profile and risk focus. The reported debt outstanding ($224M) versus NAV ($320M) is a key balance-sheet item investors should note when assessing leverage and liquidity.