---
schema_version: "secwatch.filing_event.v1"
accession: "0001911066-26-000027"
form_type: "8-K"
ticker: null
cik: "0001911066"
company_name: "Nuveen Churchill Private Capital Income Fund"
filed_at: "2026-04-02T23:59:59+00:00"
generated_at: "2026-05-15T07:53:05.969265+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# PCAP to acquire Nuveen Churchill BDC V's assets and liabilities for NAV in Q2 2026

## Summary
- PCAP acquires 100% of BDC V's assets/liabilities for cash equal to NAV; close expected Q2 2026, pending BDC V shareholder approval.
- Post-transaction, PCAP's top 10 investments as % of portfolio drop from ~11% to ~9%, improving diversification.
- BDC V portfolio as of 12/31/25: no non-accruals, weighted avg risk rating 4.0, ~55% assets already in PCAP.
- Transaction expected to enhance PCAP's scale, lower cost of debt, and create operational efficiencies.
- BDC V to cease operations and distribute cash proceeds to its shareholders after closing.

## SEC filing metadata
- accession: 0001911066-26-000027
- form_type: 8-K
- cik: 0001911066
- company_name: Nuveen Churchill Private Capital Income Fund
- filed_at: 2026-04-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1911066/000191106626000027/0001911066-26-000027-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1911066/000191106626000027/ncpif-20260401.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001911066-26-000027
- JSON: https://secwatch.observer/filing/0001911066-26-000027.json
- Plain text: https://secwatch.observer/filing/0001911066-26-000027.txt

## Source-grounded claims
- claim_id: 415d6b0cd8a6d6c4591749b00f622150b25eaf1c
  claim: Nuveen Churchill Private Capital Income Fund entered into Purchase and Sale Agreement with Nuveen Churchill BDC V valued at total cash consideration equal to BDC V’s net asset value ("NAV") as of the Determination Date (effective 2026-04-01).
  evidence_excerpt: On April 1, 2026, Nuveen Churchill Private Capital Income Fund, a Delaware statutory trust (the “Fund”), entered into a Purchase and Sale Agreement (the “Purchase Agreement”) with Nuveen Churchill BDC V, a Delaware statutory trust (“BDC V”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1911066/000191106626000027/0001911066-26-000027-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.