---
schema_version: "secwatch.filing_event.v1"
accession: "0002071136-26-000016"
form_type: "8-K"
ticker: null
cik: "0002071136"
company_name: "Nuveen Churchill BDC V"
filed_at: "2026-04-02T23:59:59+00:00"
generated_at: "2026-05-15T07:53:54.876924+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Nuveen Churchill Private Capital Income Fund to acquire BDC V at NAV; Q2 2026 close

## Summary
- PCAP to pay cash equal to BDC V's NAV for all assets and liabilities; close expected Q2 2026, subject to BDC V shareholder approval.
- ~55% of BDC V's assets by fair value already held by PCAP as of Dec 31, 2025; no non-accruals; risk rating 4.0.
- Post-transaction, PCAP's top 10 investments will drop to ~9% of portfolio from ~11%, reducing concentration.
- Churchill extends 100% incentive fee waiver from Dec 31, 2025 until earlier of transaction close or June 30, 2026.

## SEC filing metadata
- accession: 0002071136-26-000016
- form_type: 8-K
- cik: 0002071136
- company_name: Nuveen Churchill BDC V
- 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/2071136/000207113626000016/0002071136-26-000016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2071136/000207113626000016/ncbdcv-20260401.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0002071136-26-000016
- JSON: https://secwatch.observer/filing/0002071136-26-000016.json
- Plain text: https://secwatch.observer/filing/0002071136-26-000016.txt

## Source-grounded claims
- claim_id: 89a79d8b398c197663b5d157fbda64b2c11ebfd8
  claim: Nuveen Churchill BDC V entered into Purchase and Sale Agreement with Nuveen Churchill Private Capital Income Fund (effective 2026-04-01).
  evidence_excerpt: On April 1, 2026, Nuveen Churchill BDC V, a Delaware statutory trust (the “Fund”), entered into a Purchase and Sale Agreement (the “Purchase Agreement”) with Nuveen Churchill Private Capital Income Fund, a Delaware statutory trust (“PCAP”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/2071136/000207113626000016/0002071136-26-000016-index.htm

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