Nuveen Churchill Direct Lending Corp
churchillam.comWhat Do They Do?
Invests in senior secured loans to private equity-owned U.S. middle market companies, with some investments in junior debt and equity.
10-K for FY2025, filed Feb 26, 2026
How Do They Make Money?
Earns mainly interest on debt investments, generally paid quarterly, and may also receive dividends on equity investments and fees tied to its investment activity. Some interest is added to the loan balance and generally due at maturity.
10-K for FY2025, filed Feb 26, 2026We generate revenue primarily in the form of interest income on debt investments we hold. In addition, we may generate income from…View ↗
The Company may have loans in its portfolio that contain payment-in-kind (“PIK”) income provisions. PIK represents interest that is accrued…View ↗
Dividend income on preferred equity securities is recorded on the accrual basis to the extent that such amounts are payable by the…View ↗
Other income may include income such as consent, waiver, amendment, unused, and prepayment fees associated with the Company’s investment…View ↗
$93.5M
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10-K for FY2025, filed Feb 26, 2026
$93.5M ↗
Who Are Their Customers?
Churchill negotiates many loans directly with private equity sponsors and also works alongside other middle market lenders.
10-K for FY2025, filed Feb 26, 2026Churchill believes it has established itself as a highly value-additive capital provider and partner of choice for leading private equity…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 70 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Feb 26, 2026
10-K for FY2025, filed Feb 26, 2026
$65.6MView ↗
How Are They Changing?
Growing. Revenue grew 4.6x in 4 years, from $20.3M in FY2021 to $93.5M in FY2025, about 47% a year.
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