January 14, 2026
Of the 22 open, publicly offered nontraded BDCs tracked by Blue Vault in Q3 2025, how many of those offerings have fully covered their distributions year to date as of September 30, 2025?
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Answer:

As of September 30, 2025, only 10 of the 22 open, publicly offered nontraded BDCs tracked by Blue Vault in Q3 2025 have fully covered their distributions, posting YTD 2025 net investment income payout ratios of 100% or less:

  • AB Private Lending Fund (100%)
  • Antares Private Credit Fund (91%)
  • Bain Capital Private Credit (100%)
  • Blue Owl Technology Income Corp. (100%)
  • First Eagle Private Credit Fund (85%)
  • HPS Corporate Lending Fund (97%)
  • John Hancock Comvest Private Income Fund (98%)
  • Kennedy Lewis Capital Company (91%)
  • Nuveen Churchill Private Capital Income Fund (100%)
  • Prospect Floating Rate and Alternative Income Fund (69%)

 

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