TPG Twin Brook Capital Income Fund 8-K

What Happened
TPG Twin Brook Capital Income Fund filed an 8-K on January 29, 2026 announcing a $0.20 gross distribution per share for all share classes for January 2026 and reporting its net asset value (NAV) and offering activity as of December 31, 2025. The distributions are payable to shareholders of record at the open of business on January 30, 2026 and will be paid on or about February 25, 2026; shareholders may receive cash or reinvest distributions under the Company’s distribution reinvestment plan.

Key Details

• Distribution: $0.2000 gross per share for Class I, Class S and Class D. Net per share after servicing fees: Class I $0.2000, Class S $0.1818 (fee $0.0182), Class D $0.1947 (fee $0.0053). Record date 1/30/2026; payment ~2/25/2026.
• NAV and balance sheet (as of 12/31/2025): NAV per share $25.1945 for all classes; aggregate NAV $2.4 billion; investment portfolio fair value $4.3 billion; principal debt outstanding $2.0 billion; debt-to-equity ~0.85x.
• Offering status: Continuous public offering up to $5.0 billion. Through the January 2, 2026 subscription date, issued shares total 95,852,124 for $2,430.8 million (Class I: 84,984,002 / $2,155.3M; Class S: 10,745,995 / $272.4M; Class D: 122,127 / $3.1M). DRIP sales not included.

Why It Matters
The announced $0.20 distribution and the Dec 31 NAV provide investors with current income and per‑share value information. The company’s leverage (debt ~ $2.0B vs. aggregate NAV $2.4B, debt-to-equity ~0.85x) and portfolio fair value ($4.3B) give a snapshot of balance-sheet risk and asset coverage. Ongoing share sales under the $5.0B offering (about $2.43B issued to date) are material for investors because they affect capital raising, potential dilution, and the fund’s capacity to deploy capital.