Nuveen Churchill Private Capital Income Fund 8-K

What Happened

• Nuveen Churchill Private Capital Income Fund filed an 8‑K (Item 8.01) disclosing its net asset value (NAV) per share as of May 31, 2026, the Fund’s portfolio composition and yield, recent subscription activity, the results of a repurchase offer, and a distribution declared by the board on June 28, 2026.
• NAV per share as of May 31, 2026: Class I $23.88, Class S $23.81, Class D $23.88. Aggregate NAV was approximately $1.5 billion; fair value of the investment portfolio was $3.3 billion, with $1.8 billion in secured borrowings outstanding.

Key Details

• NAV and capital: Class I $23.88; Class S $23.81; Class D $23.88 (May 31, 2026). Aggregate NAV ≈ $1.5B; portfolio fair value $3.3B; secured borrowings $1.8B.
• Distributions: Board declared regular distributions on June 28, 2026 payable on or about August 28, 2026 to shareholders of record July 31, 2026 — Gross $0.170/share for all classes; net amounts: Class I $0.170, Class S $0.153 (after $0.017 servicing fee), Class D $0.165 (after $0.005 servicing fee).
• Capital activity & repurchase offer: Q2 2026 gross subscriptions (including reinvested distributions) ≈ $71.3M. About 2.3% of outstanding Common Shares as of March 31, 2026 were validly tendered and not withdrawn under a repurchase offer that expired June 29, 2026; purchase price for accepted shares will be the NAV as of June 30, 2026 (final dollar value to be disclosed once NAV is determined).
• Portfolio and yield: As of May 31, 2026 the Fund held debt/equity in 365 companies ($3.3B at cost); 92.56% first‑lien debt, weighted average yield on debt and income producing investments 8.93% (mostly floating rate: 95.76% of debt investments at fair value bear floating interest). Weighted average reported EBITDA (private debt only) $77.3M; including quoted assets $156.4M.

Why It Matters

• Income and NAV: The declared distributions and the per‑share NAVs are key for current and prospective investors assessing the Fund’s income payout and per‑share value. The distribution timing and amounts affect cash flow or reinvestment decisions.
• Leverage and portfolio yield: The Fund reports substantial borrowings ($1.8B) relative to NAV (~$1.5B) and a portfolio yield of 8.93%, with most debt at floating rates—facts investors should consider when evaluating risk, interest‑rate sensitivity and potential income sustainability.
• Liquidity actions: The repurchase offer tender amount (≈2.3% of shares) and $71.3M of Q2 subscriptions reflect recent shareholder activity; final dollar amounts related to the repurchase will be set once the June 30, 2026 NAV is calculated.
• Data caveats: Information is adviser‑prepared as of May 31, 2026 and unaudited; figures may differ from the Fund’s Form 10‑Q for the quarter ended June 30, 2026. Investors should review the Fund’s filings and financial reports for full audited details.