Nuveen Churchill Private Capital Income Fund 8-K

What Happened

• Nuveen Churchill Private Capital Income Fund announced it completed the previously disclosed acquisition of substantially all assets of Nuveen Churchill BDC V on May 1, 2026 pursuant to a Purchase and Sale Agreement dated April 1, 2026. The transaction was approved by the boards of both trusts and by BDC V shareholders on April 30, 2026.
• At the Effective Time the Fund paid a Purchase Price of $346,954,197 (equal to BDC V’s net asset value as of April 29, 2026), acquired BDC V’s assets and assumed its liabilities, including $511,000,000 of outstanding indebtedness under BDC V’s credit facility.

Key Details

• Purchase Price: $346,954,197 (NAV as of April 29, 2026).
• Debt assumed: $511,000,000 outstanding under BDC V’s credit facility.
• Funding: the Fund borrowed $337,313,101 under credit facilities with Bank of America and the Bank of Nova Scotia; $9,641,096 was settled on a net basis.
• Approvals: transaction approved by both trusts’ boards (including all independent trustees) and by BDC V shareholders (virtual meeting April 30, 2026). Adviser/sub‑adviser relationships and trustee overlap are disclosed; both entities are managed/controlled within the Nuveen/Churchill structure.

Why It Matters

• The acquisition meaningfully increases the Fund’s assets while also transferring significant debt onto the Fund’s balance sheet, which may affect leverage, interest expense and risk profile going forward.
• Funding the purchase largely with new borrowings could influence the Fund’s financing costs and NAV volatility; investors should review future reports for updates on leverage, portfolio composition and any changes to distributions or risk metrics.