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    Nuveen Churchill Direct Lending Corp. Announces Full Year and Fourth Quarter 2024 Results

    2/27/25 6:00:00 AM ET
    $NCDL
    Get the next $NCDL alert in real time by email

    Reports Fourth Quarter Net Investment Income of $0.56 per Share

    Declares First Quarter Regular Distribution of $0.45 per Share

    Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) ("NCDL" or the "Company"), a business development company externally managed by its investment adviser, Churchill DLC Advisor LLC (the "Adviser"), and by its sub-adviser, Churchill Asset Management LLC ("Churchill"), today reported financial results for the full year and fourth quarter ended December 31, 2024.

    Financial Highlights for the Quarter Ended December 31, 2024

    • Net investment income of $0.56 per share
    • Net realized and unrealized loss on investments of ($0.02) per share
    • Net increase in net assets resulting from operations of $0.54 per share
    • Net asset value ("NAV") per share of $18.18, compared to $18.15 per share as of September 30, 2024
    • Paid fourth quarter regular distribution of $0.45 per share and the third of four special distributions of $0.10 per share on January 28, 2025, which represents a 12.0% total annualized yield based on the fourth quarter NAV per share
    • Declared first quarter regular distribution of $0.45 per share

    "We are pleased to end 2024 with a strong quarter of financial results, reflecting the positive momentum we have built throughout the year. This past year was an active year for originations, as our investment team deployed over $950 million of new investments, an increase of over 40% year-over-year," said Ken Kencel, President and Chief Executive Officer of NCDL and Churchill. "As we start 2025, we remain confident in the Company's positioning as a leader in the core middle market direct lending space and remain focused on continuing to deliver an attractive yield to our shareholders."

    "For the full year, NCDL delivered a return on equity of over 12% and paid $2.10 per share of distributions, which were fully covered by net investment income, driven by strong performance from our investment portfolio and high-quality new originations," said Shai Vichness, Chief Financial Officer of NCDL and Churchill. "Additionally, we took steps to continue to optimize our balance sheet and capital structure by issuing $300 million of unsecured notes in January of this year. With ample available liquidity as of year end and no near-term debt maturities, we remain well-positioned to take advantage of attractive investment opportunities."

    Distribution Declaration

    The Company's Board of Directors (the "Board") has declared a first quarter 2025 regular distribution of $0.45 per share payable on April 28, 2025 to shareholders of record as of March 31, 2025. On January 10, 2024, the Board declared four special distributions of $0.10 per share, to be paid over a one-year period, with the final distribution payable on April 28, 2025 to shareholders of record as of February 12, 2025.

    PORTFOLIO COMPOSITION

    As of December 31, 2024, the fair value of the Company's portfolio investments was $2.08 billion across 210 portfolio companies and 27 industries. This compares to $2.05 billion as of September 30, 2024 across 202 portfolio companies and 26 industries.

    As of December 31, 2024, the Company's portfolio based on fair value consisted of approximately 90.6% first-lien debt, 7.7% subordinated debt investments, and 1.8% equity investments. As of September 30, 2024, the Company's portfolio based on fair value consisted of 90.1% first-lien debt, 8.3% subordinated debt investments, and 1.7% equity investments.

    As of December 31, 2024 and September 30, 2024, the weighted average Internal Risk Rating of the portfolio at fair value was 4.1 and 4.2 (4.0 being the initial rating assigned at origination), respectively. As of December 31, 2024, there was one portfolio company on non-accrual representing 0.4% of total investments at amortized cost (or 0.1% of total investment at fair value). As of September 30, 2024, there were three portfolio companies on non-accrual representing 1.4% at amortized cost (or 0.5% at fair value). No new portfolio companies were put on non-accrual status during the quarter.

    PORTFOLIO AND INVESTMENT ACTIVITY

    Full Year

    For the year ended December 31, 2024, the Company funded $863.6 million of portfolio investments and received $430.0 million of proceeds from principal repayments and sales, compared to $589.0 million and $146.4 million for the year ended December 31, 2023, respectively.

    Fourth Quarter

    For the three months ended December 31, 2024, the Company funded $151.1 million of portfolio investments and received $119.5 million of proceeds from principal repayments and sales, compared to $203.2 million and $155.6 million for the three months ended September 30, 2024, respectively.

    RESULTS OF OPERATIONS FOR THE FULL YEAR AND QUARTER ENDED DECEMBER 31, 2024

    Investment Income

    Investment income increased to $224.0 million for the year ended December 31, 2024 from $161.8 million for the year ended December 31, 2023 primarily due to increased investment activity driven by an increase in deployed capital, slightly offset by a decrease in the weighted average yield of debt and income producing investments as a result of market spread tightening and a decline in SOFR. As of December 31, 2024, the weighted average yield of debt and income producing investments decreased to 10.33% from 11.72% as of December 31, 2023, at cost, primarily due to overall tightening of spreads in newly originated investments, the refinancing and repricing of existing portfolio companies, and the decline in base interest rates.

    Investment income increased to $57.1 million for the three months ended December 31, 2024 from $48.9 million for the three months ended December 31, 2023.

    Net Expenses

    Net expenses increased to $101.1 million for the year ended December 31, 2024 from $77.9 million for the year ended December 31, 2023, primarily due to an increase in interest and debt financing expenses and management fees. Interest and debt financing expenses increased due to higher average daily borrowings and higher average interest rates. The increase in management fees was driven by the Company's increase in total assets. Under the terms of the advisory agreement, the Adviser is waiving the incentive fee on income and the incentive fee on capital gains for the first five quarters beginning with the calendar quarter in which the IPO was consummated (i.e. beginning with the calendar quarter ended March 31, 2024 through the calendar quarter ending March 31, 2025).

    Net expenses increased to $26.4 million for the three months ended December 31, 2024, compared to $23.1 million for the three months ended December 31, 2023.

    Net Realized Gain (Loss) and Net Change in Unrealized Gain (Loss) on Investments

    For the year ended December 31, 2024, the Company had a net realized loss on investments of $(13.2) million compared to a net realized loss of $(8.0) million for the year ended December 31, 2023. The net realized loss for the year ended December 31, 2024 was primarily driven by the restructuring of two underperforming portfolio companies, partially offset by realized gains from full or partial repayments. The Company recorded a net change in unrealized gain of $7.3 million for the year ended December 31, 2024, compared to a net change in unrealized gain of $0.7 million for the year ended December 31, 2023. The increase in total net change in unrealized gains for the year ended December 31, 2024, compared to the total net change in unrealized gains for the year ended December 31, 2023, primarily resulted from a reversal of unrealized losses on underperforming portfolios companies, as well as market spread tightening.

    For the three months ended December 31, 2024, the Company recorded a net realized loss of $(11.7) million compared to a net realized loss of $(1.5) million for the three months ended December 31, 2023. For the three months ended December 31, 2024, the Company recorded a net change in unrealized gain of $11.3 million compared to a net change in unrealized gain of $4.5 million for the three months ended December 31, 2023.

    Financial Condition, Liquidity and Capital Resources

    As of December 31, 2024, the Company had $43.3 million in cash and cash equivalents and $1.1 billion in total aggregate principal amount of debt outstanding. Subject to borrowing base and other conditions, the Company had approximately $206.3 million available for additional borrowings under its existing credit facilities, as of December 31, 2024. At December 31, 2024, the Company's debt to equity ratio was 1.15x compared to 1.11x at September 30, 2024.

    CONFERENCE CALL AND WEBCAST INFORMATION

    Nuveen Churchill Direct Lending Corp. will hold a conference call to discuss its full year and fourth quarter 2024 financial results today at 11:00 AM Eastern Time. All interested parties may participate in the conference call by dialing (866) 605-1826 approximately 10-15 minutes prior to the call; international callers should dial +1 (215) 268-9877. Participants should reference Nuveen Churchill Direct Lending Corp. when prompted.

    A live webcast of the conference call will also be available on the Events section of the Company's website at https://www.ncdl.com/news/events. A replay will be available under the same link following the conclusion of the conference call.

    About Nuveen Churchill Direct Lending Corp.

    Nuveen Churchill Direct Lending Corp. ("NCDL") is a specialty finance company focused primarily on investing in senior secured loans to private equity-owned U.S. middle market companies. NCDL has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. NCDL is externally managed by its investment adviser, Churchill DLC Advisor LLC, and by its sub-adviser, Churchill Asset Management LLC ("Churchill"). Both the investment adviser and sub-adviser are affiliates and subsidiaries of Nuveen, LLC ("Nuveen") the investment management division of Teachers Insurance and Annuity Association of America ("TIAA") and one of the largest asset managers globally. Churchill is a leading capital provider for private equity-backed middle market companies and operates as the exclusive U.S. middle market direct lending and private capital business of Nuveen and TIAA. Churchill is a registered investment advisor and majority-owned, indirect subsidiary of TIAA.

    Forward-Looking Statements

    This press release contains historical information and "forward-looking statements" with respect to the business and investments of NCDL, including, but not limited to, statements about NCDL's future performance and financial performance and financial condition, which involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about us, our current and prospective portfolio investments, our industry, our beliefs, and our assumptions. Words such as "anticipates," "expects," "intends," "plans," "will," "may," "continue," "believes," "seeks," "estimates," "would," "could," "should," "targets," "projects," "outlook," "potential," "predicts" and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond NCDL's control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation, the risks, uncertainties and other factors identified in NCDL's filings with the Securities and Exchange Commission, including changes in the financial, capital, and lending markets; general economic, political and industry trends and other external factors, and the dependence of NCDL's future success on the general economy and its impact on the industries in which it invests. Investors should not place undue reliance on these forward-looking statements, which apply only as of the date on which NCDL makes them. NCDL does not undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law.

     

    CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES

    (dollars in thousands, except share and per share data)

     

     

    December 31, 2024

     

    December 31, 2023

    Assets

     

     

     

    Investments

     

     

     

    Non-controlled/non-affiliated company investments, at fair value (amortized cost of $2,098,575 and $1,666,169, respectively)

    $

    2,081,379

     

     

    $

    1,641,686

     

    Cash and cash equivalents

     

    43,254

     

     

     

    67,395

     

    Restricted cash

     

    50

     

     

     

    50

     

    Interest receivable

     

    17,971

     

     

     

    17,674

     

    Receivable for investments sold

     

    1,024

     

     

     

    3,919

     

    Prepaid expenses

     

    47

     

     

     

    13

     

    Other assets

     

    —

     

     

     

    127

     

    Total assets

    $

    2,143,725

     

     

    $

    1,730,864

     

     

     

     

     

    Liabilities

     

     

     

    Secured borrowings (net of $6,668 and $7,941 deferred financing costs, respectively) (See Note 6)

    $

    1,108,261

     

     

    $

    943,936

     

    Payable for investments purchased

     

    14,973

     

     

     

    —

     

    Interest payable

     

    12,967

     

     

     

    9,837

     

    Due to adviser for expense support (See Note 5)

     

    —

     

     

     

    632

     

    Management fees payable

     

    3,956

     

     

     

    3,006

     

    Distributions payable

     

    29,468

     

     

     

    22,683

     

    Directors' fees payable

     

    128

     

     

     

    96

     

    Accounts payable and accrued expenses

     

    3,652

     

     

     

    2,789

     

    Total liabilities

    $

    1,173,405

     

     

    $

    982,979

     

     

     

     

     

    Commitments and contingencies (See Note 7)

     

     

     

     

     

     

     

    Net Assets: (See Note 8)

     

     

     

    Common shares, $0.01 par value, 500,000,000 and 500,000,000 shares authorized, 53,387,277 and 41,242,105 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively

    $

    534

     

     

    $

    412

     

    Paid-in-capital in excess of par value

     

    996,286

     

     

     

    776,719

     

    Total distributable earnings (loss)

     

    (26,500

    )

     

     

    (29,246

    )

    Total net assets

    $

    970,320

     

     

    $

    747,885

     

     

     

     

     

    Total liabilities and net assets

    $

    2,143,725

     

     

    $

    1,730,864

     

     

     

     

     

    Net asset value per share (See Note 10)

    $

    18.18

     

     

    $

    18.13

     

     

     

    CONSOLIDATED STATEMENTS OF OPERATIONS

    (dollars in thousands, except share and per share data)

     

     

    For the Years Ended December 31,

     

    2024

     

    2023

     

    2022

    Investment income:

     

     

     

     

     

    Non-controlled/non-affiliated company investments:

     

     

     

     

     

    Interest income

    $

    213,096

     

     

    $

    156,868

     

     

    $

    79,868

     

    Payment-in-kind interest income

     

    8,299

     

     

     

    3,644

     

     

     

    789

     

    Dividend income

     

    614

     

     

     

    101

     

     

     

    225

     

    Other income

     

    2,031

     

     

     

    1,143

     

     

     

    1,571

     

    Total investment income

     

    224,040

     

     

     

    161,756

     

     

     

    82,453

     

     

     

     

     

     

     

    Expenses:

     

     

     

     

     

    Interest and debt financing expenses

     

    79,879

     

     

     

    61,206

     

     

     

    25,695

     

    Management fees (See Note 5)

     

    14,683

     

     

     

    10,509

     

     

     

    7,464

     

    Incentive fees on net investment income

     

    17,447

     

     

     

    —

     

     

     

    —

     

    Professional fees

     

    3,100

     

     

     

    3,455

     

     

     

    1,811

     

    Directors' fees

     

    510

     

     

     

    383

     

     

     

    383

     

    Administration fees (See Note 5)

     

    1,861

     

     

     

    1,598

     

     

     

    1,111

     

    Other general and administrative expenses

     

    1,068

     

     

     

    751

     

     

     

    684

     

    Total expenses before expense support and incentive fees waived

     

    118,548

     

     

     

    77,902

     

     

     

    37,148

     

    Expense support (See Note 5)

     

    —

     

     

     

    (158

    )

     

     

    (179

    )

    Incentive fees waived (See Note 5)

     

    (17,447

    )

     

     

    —

     

     

     

    —

     

    Net Expenses after expense support

     

    101,101

     

     

     

    77,744

     

     

     

    36,969

     

    Net investment income before excise taxes

     

    122,939

     

     

     

    84,012

     

     

     

    45,484

     

    Excise taxes

     

    551

     

     

     

    6

     

     

     

    —

     

    Net investment income

     

    122,388

     

     

     

    84,006

     

     

     

    45,484

     

     

     

     

     

     

     

    Realized and unrealized gain (loss) on investments:

     

     

     

     

     

    Net realized gain (loss) on non-controlled/non-affiliated company investments

     

    (13,198

    )

     

     

    (7,952

    )

     

     

    (262

    )

    Net change in unrealized appreciation (depreciation):

     

     

     

     

     

    Non-controlled/non-affiliated company investments

     

    7,287

     

     

     

    714

     

     

     

    (27,912

    )

    Income tax (provision) benefit

     

    (154

    )

     

     

    (830

    )

     

     

    (24

    )

    Total net change in unrealized gain (loss)

     

    7,133

     

     

     

    (116

    )

     

     

    (27,936

    )

    Total net realized and unrealized gain (loss) on investments

     

    (6,065

    )

     

     

    (8,068

    )

     

     

    (28,198

    )

     

     

     

     

     

     

    Net increase (decrease) in net assets resulting from operations

    $

    116,323

     

     

    $

    75,938

     

     

    $

    17,286

     

     

     

     

     

     

     

    Per share data:

     

     

     

     

     

    Net investment income per share - basic and diluted

    $

    2.26

     

     

    $

    2.52

     

     

    $

    1.95

     

    Net increase (decrease) in net assets resulting from operations per share - basic and diluted

    $

    2.15

     

     

    $

    2.27

     

     

    $

    0.74

     

    Weighted average common shares outstanding - basic and diluted

     

    54,118,379

     

     

     

    33,385,880

     

     

     

    23,279.34

     

     

    PORTFOLIO AND INVESTMENT ACTIVITY

    (dollars in thousands)

     

     

    For the Years Ended December 31,

     

    2024

     

    2023

    Net funded investment activity

     

     

     

    New gross commitments at par 1

    $

    955,309

     

     

    $

    670,638

     

    Net investments funded

     

    863,570

     

     

     

    589,000

     

    Investments sold or repaid

     

    (429,953

    )

     

     

    (146,428

    )

    Net funded investment activity

    $

    433,617

     

     

    $

    442,572

     

     

     

     

     

    Gross commitments at par 1

     

     

     

    First-Lien Debt

    $

    924,776

     

     

    $

    601,486

     

    Subordinated Debt

     

    26,088

     

     

     

    59,993

     

    Equity Investments

     

    4,445

     

     

     

    9,159

     

    Total gross commitments

    $

    955,309

     

     

    $

    670,638

     

     

     

     

     

    Portfolio company activity

     

     

     

    Portfolio companies, beginning of period

     

    179

     

     

     

    145

     

    Number of new portfolio companies

     

    68

     

     

     

    45

     

    Number of exited portfolio companies

     

    (37

    )

     

     

    (11

    )

    Portfolio companies, end of period

     

    210

     

     

     

    179

     

    Count of investments

     

    475

     

     

     

    385

     

    Count of industries

     

    27

     

     

     

    25

     

     

     

     

     

    New investment activity

     

     

     

    Weighted average annual interest rate on new debt investments at par

     

    10.11

    %

     

     

    11.50

    %

    Weighted average annual interest rate on new floating rate debt investments at par

     

    10.02

    %

     

     

    11.36

    %

    Weighted average spread on new debt investments at par

     

    5.05

    %

     

     

    6.07

    %

    Weighted average annual coupon on new debt investments at par

     

    13.53

    %

     

     

    13.20

    %

    __________________

    1 Gross commitments at par includes unfunded investment commitments.

     

    PORTFOLIO AND INVESTMENT ACTIVITY

    (dollars in thousands)

     

     

    Three Months Ended

     

    December 31,

    2024

     

    September 30,

    2024

    Net funded investment activity

     

     

     

    New gross commitments at par 1

    $

    162,663

     

     

    $

    225,612

     

    Net investments funded

     

    151,106

     

     

     

    203,159

     

    Investments sold or repaid

     

    (119,464

    )

     

     

    (155,616

    )

    Net funded investment activity

    $

    31,642

     

     

    $

    47,543

     

     

     

     

     

    Gross commitments at par 1

     

     

     

    First-Lien Debt

    $

    159,436

     

     

    $

    221,097

     

    Subordinated Debt

     

    3,127

     

     

     

    3,145

     

    Equity Investments

     

    100

     

     

     

    1,370

     

    Total gross commitments

    $

    162,663

     

     

    $

    225,612

     

     

     

     

     

    Portfolio company activity

     

     

     

    Portfolio companies, beginning of period

     

    202

     

     

     

    198

     

    Number of new portfolio companies

     

    16

     

     

     

    18

     

    Number of exited portfolio companies

     

    (8

    )

     

     

    (14

    )

    Portfolio companies, end of period

     

    210

     

     

     

    202

     

    Count of investments

     

    475

     

     

     

    457

     

    Count of industries

     

    27

     

     

     

    26

     

     

     

     

     

    New investment activity

     

     

     

    Weighted average annual interest rate on new debt investments at par

     

    8.96

    %

     

     

    9.63

    %

    Weighted average annual interest rate on new floating rate debt investments at par

     

    8.90

    %

     

     

    9.59

    %

    Weighted average spread on new debt investments at par

     

    4.59

    %

     

     

    5.00

    %

    Weighted average annual coupon on new debt investments at par

     

    12.00

    %

     

     

    13.67

    %

    __________________

    1 Gross commitments at par includes unfunded investment commitments.

    See Notes to Consolidated Financial Statements

    View source version on businesswire.com: https://www.businesswire.com/news/home/20250226768443/en/

    Investors:

    Investor Relations

    [email protected]

    Media:

    Prosek Partners

    Madison Hanlon

    [email protected]

    4270747-0425

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    • Chief Financial Off./Treasurer Vichness Shaul bought $86,350 worth of shares (5,000 units at $17.27) (SEC Form 4)

      4 - Nuveen Churchill Direct Lending Corp. (0001737924) (Issuer)

      12/3/24 4:59:41 PM ET
      $NCDL
    • CEO & President Kencel Kenneth J. bought $347,370 worth of shares (20,000 units at $17.37) (SEC Form 4)

      4 - Nuveen Churchill Direct Lending Corp. (0001737924) (Issuer)

      12/3/24 8:48:12 AM ET
      $NCDL

    $NCDL
    Insider Purchases

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    • Amendment: Director Miranda Kenneth M. bought $62,832 worth of shares (3,481 units at $18.05) (SEC Form 4)

      4/A - Nuveen Churchill Direct Lending Corp. (0001737924) (Issuer)

      3/26/25 2:34:07 PM ET
      $NCDL
    • Chief Financial Off./Treasurer Vichness Shaul bought $86,350 worth of shares (5,000 units at $17.27) (SEC Form 4)

      4 - Nuveen Churchill Direct Lending Corp. (0001737924) (Issuer)

      12/3/24 4:59:41 PM ET
      $NCDL
    • CEO & President Kencel Kenneth J. bought $347,370 worth of shares (20,000 units at $17.37) (SEC Form 4)

      4 - Nuveen Churchill Direct Lending Corp. (0001737924) (Issuer)

      12/3/24 8:48:12 AM ET
      $NCDL

    $NCDL
    Press Releases

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    • Nuveen Churchill Direct Lending Corp. Announces First Quarter 2025 Results

      Reports First Quarter Net Investment Income of $0.53 per Share Declares Second Quarter Regular Distribution of $0.45 per Share Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) ("NCDL" or the "Company"), a business development company externally managed by its investment adviser, Churchill DLC Advisor LLC (the "Adviser"), and by its sub-adviser, Churchill Asset Management LLC ("Churchill"), today reported financial results for the first quarter ended March 31, 2025. Financial Highlights for the Quarter Ended March 31, 2025 Net investment income of $0.53 per share Net realized and unrealized loss on investments of $(0.24) per share Net increase in net assets resulting from operation

      5/8/25 7:15:00 AM ET
      $NCDL
    • Nuveen Churchill Direct Lending Corp. Schedules First Quarter 2025 Earnings Release and Conference Call

      Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) ("NCDL" or "the Company"), today announced it will report its financial results for the first quarter ended March 31, 2025, on Thursday, May 8, 2025, before the market opens. The Company will host an earnings conference call and public webcast at 11:00 AM Eastern Time the same day to discuss its financial results. All interested parties may participate in the conference call by dialing (866)-605-1826 approximately 10-15 minutes prior to the call; international callers should dial +1 (215)-268-9877. Participants should reference Nuveen Churchill Direct Lending Corp. when prompted. A live webcast of the conference call will also be available

      4/15/25 4:00:00 PM ET
      $NCDL
    • Nuveen Churchill Direct Lending Corp. Announces Full Year and Fourth Quarter 2024 Results

      Reports Fourth Quarter Net Investment Income of $0.56 per Share Declares First Quarter Regular Distribution of $0.45 per Share Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) ("NCDL" or the "Company"), a business development company externally managed by its investment adviser, Churchill DLC Advisor LLC (the "Adviser"), and by its sub-adviser, Churchill Asset Management LLC ("Churchill"), today reported financial results for the full year and fourth quarter ended December 31, 2024. Financial Highlights for the Quarter Ended December 31, 2024 Net investment income of $0.56 per share Net realized and unrealized loss on investments of ($0.02) per share Net increase in net asse

      2/27/25 6:00:00 AM ET
      $NCDL

    $NCDL
    SEC Filings

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    • Nuveen Churchill Direct Lending Corp. filed SEC Form 8-K: Results of Operations and Financial Condition, Regulation FD Disclosure, Financial Statements and Exhibits

      8-K - Nuveen Churchill Direct Lending Corp. (0001737924) (Filer)

      5/8/25 7:16:16 AM ET
      $NCDL
    • SEC Form 10-Q filed by Nuveen Churchill Direct Lending Corp.

      10-Q - Nuveen Churchill Direct Lending Corp. (0001737924) (Filer)

      5/7/25 9:52:13 PM ET
      $NCDL
    • SEC Form 40-APP filed by Nuveen Churchill Direct Lending Corp.

      40-APP - Nuveen Churchill Direct Lending Corp. (0001737924) (Filer)

      5/7/25 5:30:55 PM ET
      $NCDL

    $NCDL
    Analyst Ratings

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    • Nuveen Churchill Direct Lending Corp. upgraded by JMP Securities with a new price target

      JMP Securities upgraded Nuveen Churchill Direct Lending Corp. from Mkt Perform to Mkt Outperform and set a new price target of $18.50

      2/28/24 6:20:24 AM ET
      $NCDL
    • BofA Securities initiated coverage on Nuveen Churchill Direct Lending Corp. with a new price target

      BofA Securities initiated coverage of Nuveen Churchill Direct Lending Corp. with a rating of Buy and set a new price target of $19.00

      2/20/24 7:59:05 AM ET
      $NCDL
    • Wells Fargo initiated coverage on Nuveen Churchill Direct Lending Corp. with a new price target

      Wells Fargo initiated coverage of Nuveen Churchill Direct Lending Corp. with a rating of Equal Weight and set a new price target of $18.00

      2/20/24 7:22:50 AM ET
      $NCDL

    $NCDL
    Financials

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    $NCDL
    Large Ownership Changes

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    • Nuveen Churchill Direct Lending Corp. Announces First Quarter 2025 Results

      Reports First Quarter Net Investment Income of $0.53 per Share Declares Second Quarter Regular Distribution of $0.45 per Share Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) ("NCDL" or the "Company"), a business development company externally managed by its investment adviser, Churchill DLC Advisor LLC (the "Adviser"), and by its sub-adviser, Churchill Asset Management LLC ("Churchill"), today reported financial results for the first quarter ended March 31, 2025. Financial Highlights for the Quarter Ended March 31, 2025 Net investment income of $0.53 per share Net realized and unrealized loss on investments of $(0.24) per share Net increase in net assets resulting from operation

      5/8/25 7:15:00 AM ET
      $NCDL
    • Nuveen Churchill Direct Lending Corp. Schedules First Quarter 2025 Earnings Release and Conference Call

      Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) ("NCDL" or "the Company"), today announced it will report its financial results for the first quarter ended March 31, 2025, on Thursday, May 8, 2025, before the market opens. The Company will host an earnings conference call and public webcast at 11:00 AM Eastern Time the same day to discuss its financial results. All interested parties may participate in the conference call by dialing (866)-605-1826 approximately 10-15 minutes prior to the call; international callers should dial +1 (215)-268-9877. Participants should reference Nuveen Churchill Direct Lending Corp. when prompted. A live webcast of the conference call will also be available

      4/15/25 4:00:00 PM ET
      $NCDL
    • Nuveen Churchill Direct Lending Corp. Announces Full Year and Fourth Quarter 2024 Results

      Reports Fourth Quarter Net Investment Income of $0.56 per Share Declares First Quarter Regular Distribution of $0.45 per Share Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) ("NCDL" or the "Company"), a business development company externally managed by its investment adviser, Churchill DLC Advisor LLC (the "Adviser"), and by its sub-adviser, Churchill Asset Management LLC ("Churchill"), today reported financial results for the full year and fourth quarter ended December 31, 2024. Financial Highlights for the Quarter Ended December 31, 2024 Net investment income of $0.56 per share Net realized and unrealized loss on investments of ($0.02) per share Net increase in net asse

      2/27/25 6:00:00 AM ET
      $NCDL
    • SEC Form SC 13G filed by Nuveen Churchill Direct Lending Corp.

      SC 13G - Nuveen Churchill Direct Lending Corp. (0001737924) (Subject)

      11/14/24 5:05:17 PM ET
      $NCDL