Nuveen Churchill Private Credit Fund: M&A transaction — Nuveen Churchill Private Credit Fund sells assets to PCAP for $221M; PCAP assumes $281.5M debt

Nuveen Churchill Private Credit Fund

Fund sold substantially all assets to Nuveen Churchill Private Capital Income Fund (PCAP) for $220,977,302 in net asset value.
PCAP assumed $281,500,500 of Fund's credit facility indebtedness.
Transaction approved by Fund shareholders on Dec 5, 2024, and closed Dec 11, 2024.
Purchase price funded by PCAP via $217,570,532 borrowings under its credit facility with Bank of America.
Both entities are externally managed by affiliates of Nuveen, LLC; boards share common trustees.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Nuveen Churchill Private Credit Fund completed a disposition involving Nuveen Churchill Private Capital Income Fund for $220,977,302 (closed 2024-12-11).

Action: disposition
Counterparty: Nuveen Churchill Private Capital Income Fund
Consideration: $220,977,302
Closing: 2024-12-11

Exact text from the filing

on the Fund’s Board. Pursuant to the Purchase Agreement, at the Effective Time (as defined in the Purchase Agreement), PCAP delivered to NCPCF an aggregate purchase price of $220,977,302 (the “Purchase Price”), equal to the net asset value of the Fund as of December 9, 2024, at which time the Fund sold, transferred, assigned and conveyed to PCAP substantially all

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Source: SEC EDGAR

accession 0001628280-24-050967

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