Nuveen Churchill Direct Lending Corp. (NCDL) Research

Nuveen Churchill Direct Lending Corp. (NCDL), initially formed as a Delaware limited liability company on March 13, 2018, and subsequently restructured into a Maryland corporation on June 18, 2019, prior to commencing its business activities, operates as a closed-end, externally managed, non-diversified investment company. It has chosen to be regulated as a Business Development Company (BDC) under the Investment Company Act of 1940, as amended. The firm's principal investment goal is to generate appealing risk-adjusted returns, primarily through current income. This is achieved by predominantly investing in senior secured loans provided to private equity-backed U.S. middle market companies, which NCDL identifies as enterprises with annual earnings before interest, taxes, depreciation, and amortization (EBITDA) generally ranging from $10.0 million to $100.0 million. Its portfolio will largely comprise what it refers to as "Senior Loans," primarily consisting of privately originated first-lien senior secured debt and unitranche loans (excluding "last-out" positions) to these performing U.S. middle market businesses. Additionally, the company selectively pursues "Junior Capital Investments," which include instruments such as second-lien loans, subordinated debt, last-out unitranche loan positions, and various equity-related securities.

Market snapshot

Symbol
NCDL
Price
$12.23
Day change
-0.24%
Market cap
$604.0M
P/E ratio
10.19x
52-week range
12.1-17.27
Sector
Financial Services
Industry
Asset Management
Next earnings
in 2 months
Analyst price target
$13.38

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Recent insider activity

  • Vichness Shaul — P-Purchase (5000 shares) on 2026-05-14
  • Vichness Shaul — J-Other (385.77 shares) on 2026-04-27
  • Hassen Marissa — P-Purchase (3782 shares) on 2026-05-12
  • Vichness Shaul — P-Purchase (5000 shares) on 2026-03-12
  • RITCHIE JAMES JOSEPH — P-Purchase (17857 shares) on 2026-03-10

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