Nuveen Churchill Private Capital Income Fund Reports May 2026 NAV, Distributions & Portfolio Update

What Happened
Nuveen Churchill Private Capital Income Fund (the Fund) filed an 8-K (Item 8.01) disclosing its May 31, 2026 net asset values (NAVs), a portfolio update, recent subscription activity and repurchase-offer details, and Board-declared regular distributions. As of May 31, 2026 the Fund reported NAVs of $23.88 (Class I), $23.81 (Class S) and $23.88 (Class D); aggregate NAV ≈ $1.5 billion; investment portfolio fair value $3.3 billion; and secured borrowings $1.8 billion. The Fund also reported approximately $71.3 million in gross subscriptions in Q2 2026 and estimated ~2.3% of outstanding Common Shares (as of March 31, 2026) were validly tendered and not withdrawn under a repurchase offer that expired June 29, 2026 (purchase price = NAV as of June 30, 2026).

Key Details

• NAVs (May 31, 2026): Class I $23.88; Class S $23.81; Class D $23.88. Aggregate NAV ≈ $1.5B; portfolio fair value $3.3B; secured borrowings $1.8B.
• Distributions declared June 28, 2026; record date June 30, 2026; pay date ≈ July 28, 2026. Gross per-share regular distribution $0.170 for all classes; net distributions: Class I $0.170, Class S $0.153 (after $0.017 servicing fee), Class D $0.165 (after $0.005 fee).
• Portfolio composition (May 31, 2026): 365 companies; 92.56% first-lien debt, 3.14% second-lien, 1.81% mezzanine/structured debt, 2.49% equity (by fair value). 95.76% of debt investments are floating-rate. Weighted average yield on debt & income-producing investments = 8.93%.
• Other metrics: average position size 0.27% of portfolio fair value; weighted average reported EBITDA (private debt excl. quoted assets) = $77.3M (including quoted assets = $156.4M). Adviser (Churchill PCIF Advisor LLC) determined valuations; figures subject to Board review and may differ from the Fund’s subsequent Form 10-Q; PwC did not audit these summary figures.

Why It Matters
This filing gives investors up-to-date NAVs, portfolio mix and yield information—key inputs for assessing the Fund’s income profile and liquidity. The declared distributions and modest subscription activity ($71.3M) indicate ongoing investor flows, while the repurchase-offer tender (~2.3%) and $1.8B in secured borrowings are relevant to near-term liquidity and leverage considerations. The high share of floating-rate first-lien debt and an ~8.93% portfolio yield are material to expected income sensitivity in a rising-rate environment. Investors should note these are Adviser-determined interim figures and may differ from audited quarterly results.