secwatch.observer — SEC 8-K summary
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Issuer:     CNL Strategic Capital, LLC (—)
CIK:        0001684682
Form:       8-K
Filed at:   2026-11-10T21:31:24+00:00
Accession:  0001999371-26-025086
Event type: other_material
Sentiment:  positive
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

CNL Strategic Capital cuts base fee to 1.5% from 2.0%, incentive fee to 15% from 20%, effective Jan 1, 2027
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- Base Management Fee on Non-Founder Shares falls from 2.0% to 1.5% beginning January 1, 2027 under the Eighth Amended and Restated Management Agreement signed November 9, 2026.
- Total Return Incentive Fee on Non-Founder Shares cut to 15% from 20%, with the Non-Founder Breakpoint lowered to 8.235% from 8.75%.
- Annual Preferred Return used in the Total Return Incentive Fee calculation is unchanged at 7%; the reductions apply only to Non-Founder Shares.
- Manager CNL Strategic Capital Management and sub-manager Levine Leichtman Strategic Capital also signed a Fourth Amended and Restated Sub-Management Agreement adjusting incentive-fee sharing.
- Both agreements have one-year terms and are renewable by the Company's board for unlimited successive one-year periods.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1684682/000199937126025086/0001999371-26-025086-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1684682/000199937126025086/cnl-8k_111026.htm
  HTML page:      https://secwatch.observer/filing/0001999371-26-025086

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