---
schema_version: "secwatch.filing_event.v1"
accession: "0001913724-23-000080"
form_type: "8-K"
ticker: null
cik: "0001913724"
company_name: "TPG Twin Brook Capital Income Fund"
filed_at: "2023-07-28T23:59:59+00:00"
generated_at: "2026-06-12T23:19:58.570590+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# AG Twin Brook Capital Income Fund completes $193M acquisition of AG Twin Brook BDC for $20/share cash

## Summary
- Closed acquisition of AG Twin Brook BDC on July 28, 2023; each AGTB share converted to $20 cash.
- Total consideration ~$193M, funded with $180M credit facility borrowings and $13M cash.
- Merger approved by shareholders of both funds on July 18, 2023; both boards (including independent members) approved.
- Fund is the surviving entity; both entities are affiliated BDCs managed by Angelo Gordon subsidiaries.

## SEC filing metadata
- accession: 0001913724-23-000080
- form_type: 8-K
- cik: 0001913724
- company_name: TPG Twin Brook Capital Income Fund
- filed_at: 2023-07-28T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1913724/000191372423000080/0001913724-23-000080-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1913724/000191372423000080/agci-20230728.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001913724-23-000080
- JSON: https://secwatch.observer/filing/0001913724-23-000080.json
- Plain text: https://secwatch.observer/filing/0001913724-23-000080.txt

## Key facts
- M&A Transactions
  TPG Twin Brook Capital Income Fund completed an acquisition involving AG Twin Brook BDC, Inc. for approximately $193 million (closed 2023-07-28).
  - Action: acquisition
  - Counterparty: AG Twin Brook BDC, Inc.
  - Consideration: approximately $193 million
  - Closing: 2023-07-28
  source text: interest (the “Per Share Consideration”), subject to any applicable withholding taxes. The Fund paid total cash consideration in connection with the Transaction of approximately $193 million (the “Total Consideration”). The Fund funded the Total Consideration for the Transaction with $180 million of borrowings under its credit facilities and $13 million of available
  evidence_url: https://www.sec.gov/Archives/edgar/data/1913724/000191372423000080/0001913724-23-000080-index.htm

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