TPG Twin Brook Capital Income Fund Files 8‑K Business Update; Reports 9.8% Return

What Happened
TPG Twin Brook Capital Income Fund (TCAP) filed an 8‑K on September 10, 2026 furnishing a Regulation FD business update. The filing highlights continued strong performance—9.8% annualized total return since TCAP’s 2022 inception and a 9.9% trailing‑12‑month return as of June 30, 2026—and provides current portfolio, liquidity and capital flow details.

Key Details

• Performance and yield: 9.8% annualized total return since inception (2022); 9.9% trailing‑12‑month return as of 6/30/2026; 10.0% annualized distribution rate.
• Portfolio composition: $4.8 billion portfolio across 287 positions (avg. position ~0.35%); 100% directly originated first‑lien senior secured loans; average loan‑to‑value at close 39%.
• Credit metrics and liquidity: Payment‑in‑kind interest 1.3% (six months ended 6/30/2026); non‑accrual rate 0.2% (amortized cost basis); interest coverage ~2.6x; available liquidity > $1.1 billion as of 6/30/2026.
• Capital flows & repurchases: Estimated $128 million of capital inflows from July 1–Sept 10, 2026 (ex‑dividend reinvestments); Q3 repurchase requests equal 1.2% of shares outstanding ($31M), below the 5% quarterly limit; historically repurchase requests ~2% or less and fully fulfilled.

Why It Matters
The filing gives retail investors updated evidence of portfolio health (low non‑accruals, first‑lien secured exposure), steady capital inflows and ample liquidity—factors that support TCAP’s stated ability to pay its high distribution and honor repurchase requests. The report also includes standard forward‑looking disclaimers and notes some third‑party information was not independently verified; past performance is not a guarantee of future results.