Nuveen Churchill Direct Lending reported second-quarter net investment income of $0.41 per share, unchanged from the prior quarter and covering the $0.36 base distribution. The board declared a third-quarter payout of $0.38 per share, including a $0.02 supplemental distribution, payable October 28 to shareholders of record as of September 30. Net asset value fell 1.8% to $17.19 per share as realized and unrealized losses weighed on results, and four investments entered non-accrual status, raising non-accruals to 2.7% of the portfolio at cost and 1.5% at fair value. Originations declined sharply to $12.1 million as the company managed leverage near the top of its target range, while it redeemed a $297.9 million CLO, issued $100 million of unsecured notes, and launched a joint venture expected to grow toward $300 million in assets.
Nuveen Churchill Direct Lending Corp.Net asset value fell 1.8% due to realized and unrealized losses, and non-accruals rose to 2.7% of portfolio at cost.
