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AB Private Lending Fund

What Do They Do?

Lends to U.S. middle-market companies through privately negotiated corporate loans, and invests in syndicated loans and bonds issued by private and public companies.

How Do They Make Money?

The Fund earns interest and transaction fees on debt investments, with interest generally paid quarterly or semiannually; it can also earn gains and dividends from equity investments.

FY2025 revenue

Who Are Their Customers?

AB-PCI originates loans directly to middle-market businesses, often through financial sponsor relationships; other opportunities come through co-investors, intermediaries, and company executives. Borrowers are typically private-equity-backed, with some venture-capital-backed or independently owned companies.

Do Revenues Turn Into Profits?

Yes. It kept 94 cents of every revenue dollar as net income in FY2025.

Net income, FY2025
94% of revenue
▲ +24% vs FY2024 ($9.8M, 106%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 30, 2026
Revenue
▲ +21%
vs $3.1M in Q2 FY2025
  • Sep 16, 2026 Adviser ended AB High Yield’s sub-advisory agreement AB will instead provide investment professionals, facilities and systems to support the Adviser’s work on publicly traded credit investments.

Growing. Revenue grew 41% in 1 year, from $9.2M in FY2024 to $12.9M in FY2025, about 41% a year.

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