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Nuveen Churchill Private Capital Income Fund

Important Notice

This site and the materials herein are directed only to certain types of investors and to persons in jurisdictions where Nuveen Churchill Private Capital Income Fund (“PCAP”) is authorized for distribution.

Complete information about investing in shares of Nuveen Churchill Private Capital Income Fund is available in the prospectus, which should be read carefully to fully understand all of the implications and risks associated with the offering.

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This material must be preceded or accompanied by a prospectus for Nuveen Churchill Private Capital Income Fund (PCAP). This material does not constitute an offer to sell or a solicitation of an offer to buy any security. An offering is made only by a prospectus to individuals who meet minimum suitability requirements. This sales literature must be read in conjunction with a prospectus for PCAP in order to understand fully all the implications and risks of the offering of securities to which it relates. A copy of the prospectus must be made available to you in connection with this offering. Neither the Securities and Exchange Commission nor any other state securities regulator has approved or disapproved of our securities or determined if the prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

Nuveen products may be subject to market and other risk factors. See the applicable product literature.

Investments in middle market loans are subject to certain risks. Please consider all risks carefully prior to investing in any particular strategy. These investments are subject to credit risk and potentially limited liquidity, as well as interest rate risk, currency risk, prepayment and extension risk, inflation risk, and risk of capital loss. The consideration of environmental, social and governance ("ESG") factors as part of the investment process may influence investment decisions and result in outcomes that differ from those of investors that do not consider ESG factors, and there can be no assurance this will improve investment performance. The Company does not pursue a specific ESG strategy, and investments are selected based on pecuniary factors, including borrower creditworthiness and overall risk-return characteristics. In addition, ESG-related data, including third-party ratings, may be limited, inconsistent or inaccurate. Diversification is a technique to help reduce risk. It is not guaranteed to protect against loss.

Diversification is a technique to help reduce risk. It is not guaranteed to protect against loss.

Nuveen Churchill Private Capital Income Fund is a non-exchange traded business development company (“BDC”) that expects to invest in private credit investments, including private debt and equity investments in U.S. middle market companies owned by private equity firms issued in private offerings or issued by private companies.

Summary of Risk factors

Investing in our Common Shares involves a high degree of risk. You should purchase these securities only if you can afford the complete loss of your investment. You should read the prospectus carefully for a description of the risks associated with an investment in PCAP. See full information pertaining to “Risk Factors” in the prospectus. Also consider the following:

  • There is no assurance that we will achieve our investment objective.
  • You should not expect to be able to sell your Common Shares regardless of how we perform.
  • You should consider that you may not have access to the money you invest for an extended period of time.
  • We do not intend to list our Common Shares on any securities exchange, and we do not expect a secondary market in our Common Shares to develop.
  • Because you may be unable to sell your Common Shares, you will be unable to reduce your exposure in any market downturn.
  • We have implemented a share repurchase program, but only a limited number of Common Shares are eligible for repurchase and repurchases are subject to available liquidity and other significant restrictions and limitations. See “Share Repurchase Program” and “Risk Factors.”
  • An investment in our Common Shares is not suitable for you if you need access to the money you invest. See “Suitability Standards” and “Share Repurchase Program.”
  • We cannot guarantee that we will make distributions, and if we do, we may fund such distributions from sources other than cash flow from operations, including the sale of assets, borrowings, return of capital or offering proceeds, and although we generally expect to fund distributions from cash flow from operations, we have not established limits on the amounts we may pay from such other sources.
  • Distributions may also be funded in significant part, directly or indirectly, from temporary waivers or expense reimbursements borne by the Adviser or its affiliates, which may be subject to reimbursement to the Adviser or its affiliates. The repayment of any amounts owed to our affiliates will reduce future distributions to which you would otherwise be entitled.
  • We use and expect to continue to use leverage, which will magnify the potential for loss on amounts invested in us. See “Risk Factors - Risks Related to Debt Financing”.
  • We intend to invest in securities that are rated below investment grade by rating agencies or that would be rated below investment grade if they were rated. Below investment grade securities, which are often referred to as “junk,” have predominantly speculative characteristics with respect to the issuer’s capacity to pay interest and repay principal. They may also be illiquid and difficult to value.
  • An investor will pay a sales load of up to 3.50% and offering expenses of up to 0.75% on the amounts it invests in Class S shares. If you pay the maximum aggregate 4.25% for sales load and offering expenses for Class S shares at a purchase price of $25.00, you must experience a total return on your net investment of 4.44% in order to recover these expenses. Additionally, Class S shares are subject to a shareholder servicing and/or distribution fee equal to 0.85% per annum of the aggregate NAV as of the beginning of the first calendar day of the month, payable monthly.
  • An investor will pay a sales load of up to 1.50% and offering expenses of up to 0.75% on the amounts it invests in Class D shares. If you pay the maximum aggregate 2.25% for sales load and offering expenses for Class D shares at a purchase price of $25.00, you must experience a total return on your net investment of 2.30% in order to recover these expenses. Additionally, Class D shares are subject to a shareholder servicing and/or distribution fee equal to 0.25% per annum of the aggregate NAV as of the beginning of the first calendar day of the month, payable monthly.
  • An investor will pay offering expenses of up to 0.75% on the amounts it invests in Class I shares. Accordingly, you must experience a total return on your net investment of 0.76% in order to recover the expenses for Class I shares.

Distributed by Nuveen Securities, LLC. Churchill Asset Management is a registered investment advisor and an affiliate of Nuveen, LLC.

This material does not constitute a solicitation of an offer to buy, or an offer to sell securities in any jurisdiction in which such solicitation is unlawful or to any person to whom it is unlawful to make such an offer. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Financial professionals should independently evaluate the risks associated with products or services and exercise independent judgment with respect to their clients.

Past performance does not predict future returns. Actual results may vary. Diversification of an investor’s portfolio does not assure a profit or protect against loss. There is no guarantee that any of the estimates, targets or projections illustrated in these materials and any presentation of which they form a part will be achieved. Any references herein to any of PCAP’s past or present investments or its past or present performance have been provided for illustrative purposes only. It should not be assumed that these investments were or will be profitable or that any future investments by PCAP will be profitable or will equal the performance of these investments.

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Privacy notice

Effective Date: October 2026

Nuveen, LLC, its subsidiaries, including its affiliated investment advisers and funds (together, the “Company”, “us” or “we”), considers your privacy to be a fundamental aspect of our relationship with you. This Privacy Statement (Online and Electronic Communications) (“Privacy Statement”) describes the personal information we collect or receive from or about you when you visit https://www.nuveen.com  (“Website”) and when we interact with you electronically, including by email or telephone, as well as the ways in which we use and share such personal information. This Privacy Statement does not apply to Schroders plc or its affiliates (“Schroders”), which maintain their own separate privacy notices governing their websites and other related data transfer and processing activities. Links to Schroders' privacy notices are provided at the end of this Privacy Statement for your convenience.

For Prospective, Current or Former Clients of Nuveen or Fund Shareholders. Please note that if you are a prospective, current or former client of Nuveen or a fund shareholder, some of the information we may collect from you online constitutes “non-public personal information” as defined under applicable federal law or jurisdictional law.  Our collection, sharing and use of non-public personal information is governed by the privacy notice we deliver to you pursuant to federal or jurisdictional law, rather than by this Privacy Statement. 

Information We Collect About You

We collect information about you in various ways. The personal information that you provide and that we collect or receive from you depends on the context of your interaction with us and our Website, the choices you make when you interact with us or use our Website, and the features that you use.

You may provide information to us directly. We collect and receive information from you directly, such as when you correspond with us by phone, chat, e-mail or otherwise; fill in forms; interact with us via calendar invites or meetings; register as a nuveen.com user; and/or log in to a Nuveen Website. This information may include your name, contact details, social security number, the contents of our communications with you and related details, login ID and password.

In addition, we sometimes record telephone conversations and monitor electronic communications to resolve complaints, improve our service and in order to comply with our legal and regulatory requirements. The information we capture in this way may include your name, address, e-mail address and phone number, financial information, and identification records.

You may provide information to third parties who act on our behalf. We collect and receive information when you provide your information to our third-party service providers and other partners who we engage to assist us in providing services to you. Such third parties may include website providers and entities that assist us in holding meetings and events. The information collected by such entities may include your name, contact details, IP address and other online identifiers, login ID and password or information regarding the events you attend.

We collect information from you automatically through tracking technologies. When you visit our Website or interact with us electronically we collect certain information from you automatically.  We may collect this information through cookies, web beacons, tags and scripts and other tracking technologies. We may combine this information with other information we collect about you on our Website or via other sources.

The information we collect automatically may include the following:
 

  • Your IP address.
  • Your device identifier.
  • Advertising identifiers.
  • Your location.
  • The type of browser and/or operating system you are using.
  • The domain name of your Internet service provider.
  • Information regarding when you access or how you use our Website.
  • The URLs of the pages that you visit and information regarding how long you use various pages or aspects of our Website.

For more information regarding how we and third parties we engage may collect information from you automatically via cookies and other tracking technologies, please see Cookies, Online Tracking and Targeted Advertising below.

We receive information about you from other sources. We may act as a third-party recipient of personal information, such as:
 

  • When verifying your identity and when carrying out diligence to comply with know-your-client and anti-money laundering and sanctions laws. Such information may include some details about identification, any criminal convictions, and any allegations regarding criminal activity that relate to you (to the extent that this is permissible under local laws). 
  • When conducting pre-investment diligence, including personal identifiers, contact details, professional or employment information, and geolocation data. 

When developing leads related to individuals or representatives of companies with whom we believe we may be interested in doing business, we use such personal information, including personal identifiers, professional or employment information, geolocation data, and information regarding interactions with our Website, to contact such individuals about products and services we believe may be of interest to them, or as otherwise permitted or required by law.

We collect information that you provide to us via social media platforms and other third-party services. We collect and receive information from you when you interact with our social media pages, accounts or via posts you make on social media and other third-party platforms (“Social Media Platforms”). This may include demographic information about users who “follow” our pages or information regarding how you engage with us, such as when you “like” our content. For more information, please see Social Media and Other Platforms below.

How We Use Your Information

We may use the information we collect from you in a variety of ways, including:
 

  • To present our Website and its contents to you and to operate our Website.
  • To deliver the information, products or services you have requested from us.
  • To register your account and deliver access to your accounts to you.
  • To reach out to you about and market or promote new information, products or services to you that we believe you may be interested in.
  • To verify your identity and comply with applicable law, including know-your-client and anti-money laundering and sanctions requirements.
  • To conduct pre-investment diligence.
  • To communicate with you, including to arrange and log interactions and notify you about changes to our Website or products or services
  • To help us improve our Website and communications and deliver a more personalized experience. This includes by enabling us to estimate and analyze our audience size and usage patterns, store information about your preferences, speed up your searches and recognize you when you return to our Website.
  • To deliver targeted advertising to you. Please see Cookies, Online Tracking and Targeted Advertising below for further information about our and third parties’ use of cookies and other tracking technologies to provide you with relevant ads on our Website and other sites, and information about how to disable cookies and make other choices related to targeted advertising.
  • To carry out our obligations and enforce our rights arising from any contracts entered into with you. This includes for billing and collection, and as we believe is necessary or appropriate to protect, enforce or defend the legal rights, privacy, safety or property of the Website, its employees or agents, or other users or to comply with law.
  • To create deidentified, statistical or aggregate data which is no longer personal information.
  • In any other way we may describe when you provide the information, or otherwise at your direction or with your consent.
  • As permitted by law or as we may notify you.

Please note that we may use artificial intelligence (“AI”) when processing personal information for the purposes set forth above and otherwise in connection with the operation of our business.

How We Share Information

We may share the information that we collect pursuant to this Online Privacy Notice as follows:
 

  • With our affiliates.
  • With our service providers, business partners and vendors. These parties may include companies that host our Website, provide web analytics, perform data processing, provide AI tools on which we rely, distribute emails to you, serve targeted ads or measure ad performance, or help us communicate and interact with you.
  • When you request any of our products or services. We will share your information to the extent necessary or appropriate to fulfill your request.
  • When required to do so by law. For example, in response to a court order or a subpoena. We also may disclose such information in response to a law enforcement agency’s request.

In addition, please note that if Nuveen or any of its affiliates, subsidiaries or lines of business is merged, acquired, divested, financed, sold, disposed of or dissolved, including through merger, consolidation, sale or divestiture of assets, the relevant customer database, including personal information we may possess about you, and information collected pursuant to this Online Privacy Notice, may, in whole or in part, be sold, disposed of, transferred, divested, or otherwise disclosed as part of that transaction or proceeding.

Data Retention 

We will retain your personal information for as long as necessary to fulfill the purposes for which it was collected and processed, including for the purposes of satisfying any legal, regulatory, accounting or reporting requirements. 

Cookies, Online Tracking and Targeted Advertising

Cookies and Other Tracking Technologies

We and third-party partners we engage may use cookies (i.e., small text files that are stored on your browser, computer, or mobile device), web beacons, pixel tags, browser analysis tools, server logs and other tracking technologies to automatically collect information, including personal information such as your IP address, from your browser.

We use both session cookies and persistent cookies. A session cookie disappears after you close your browser. A persistent cookie remains after you close your browser and may be accessed every time you use our Website or other digital services.

We use cookies and other tracking technologies for a variety of purposes, including functional, analytics and advertising purposes. For example, we, our service providers and other partners we engage use cookies and other tracking technologies:
 

  • For functional purposes, such as to provide the Website and its content to you.
  • For analytics purposes, such as to provide us with information about which portions of our Website and offerings are the most popular, enabling us to see what web pages a user visits and how much time a user spends on each page, and what communications are of interest to a user.
  • To personalize your experience on our Website or in our interactions with you (e.g., to recognize you by name when you return to our Website, to save your password in password-protected areas, or to tailor content, or product and service offerings to you).
  • For advertising purposes, such as to provide advertisements to you (known as targeted advertisements) that we or third parties believe may be relevant to your interests.

Google Analytics

Our Website may use Google Analytics, a web analytics service offered by Google. You may learn more about Google’s practices with Google Analytics by visiting Google’s Privacy Statement at https://www.google.com/policies/privacy/partners.

Targeted Advertising and Third Party Rights to Your Information

We may partner or engage with third-party companies in an effort to serve targeted, targeted advertisements to you. We permit such third-parties to obtain information about you when you use our Website. This information includes your IP address, mobile device ID and advertising ID. Such information is obtained through cookies and other tracking technologies. Our third-party partners and others may collect similar information from you across other websites and over time. We, our third-party partners and others may use this information to engage in targeted advertising and display ads or other targeted content to you that is believed to be relevant to you based on your use of our Website, other sites and other information we may collect about you. Such ads and targeted content may appear on our website and/or across other domains.

We take steps to contractually limit the rights our third-party partners have to the information they collect from you via cookies and other tracking technologies. However, we may grant some of our third-party partners independent rights to your personal information (e.g., your IP address), including rights to use your personal information for their own purposes. In such cases, we do not control those third parties’ further use of your personal information and such use is governed by those third-parties’ respective privacy policies.

Your Choices:

You can generally manage your cookie preferences through your web browser. Most web browsers will tell you how to stop accepting new cookies and how to disable existing cookies. For more information regarding how to manage your preferences, please consult the information made available by your particular browser or visit www.allaboutcookies.org. 

With respect to Google Analytics, you can also view Google’s currently available opt-out options at https://tools.google.com/dlpage/gaoptout in an effort to opt-out of being tracked by Google Analytics.

Please note that if you choose not to accept cookies, you may be unable to use certain features of our Website. In addition, you may still receive advertisements on our Website; however, they may not be as relevant to you.

Social Media and Other Platforms

You may choose to engage with us on Social Media Platforms. We collect and receive information from you when you interact with our social media pages, accounts or via posts you make on Social Media Platforms.  If you choose to make any of your activities or other content available through a Social Media Platform, including on our pages, or you engage in other activities in connection with a Social Media Platform, your friends and followers on those Social Media Platforms that you have enabled, and potentially the general public, will be able to view those contributions and activities. Please remember that the manner in which Social Media Platforms use, store, and disclose your information is governed by the policies of such third-parties. Nuveen is not responsible for the privacy practices or other actions of any Social Media Platform through which we may engage with you.

Links to Third-Party Websites

Our Website and digital communications may contain links to third-party sites and services whose privacy practices may be different than ours. We may also allow you to connect with other third-party sites and services. We are not responsible for the privacy practices of third-party sites and services and you should consult the other third-party sites’ and services’ privacy notices in order to better understand their privacy practices.

Security

Nuveen takes seriously the obligation to safeguard personal information. Nuveen has implemented procedures that are designed to restrict access to personal information to its personnel who need to know that information to perform their jobs. Physical, electronic, and procedural safeguards are in place to guard your personal information.

Children’s Privacy

Our Website is not intended for users under the age of 16, and Nuveen does not knowingly collect information from anyone under the age of 16. No one under the age of 16 is permitted to access or use our Website or provide us with personal information.

Correcting and Deleting Your Personal Information

We take reasonable steps to accurately record the personal information that you provide to us pursuant to this Privacy Statement and any subsequent updates to such information. We encourage you to review, update, and correct the personal information that you provide to us. Please call us toll free at (800) 257-8787  or at privacyoffice@nuveen.com  in order to do so.

Changes to this Privacy Statement

From time to time, Nuveen may update or revise this Privacy Statement. If there are changes to the terms of this Privacy Statement, documents containing the revised policy on the relevant website(s) will be updated. Please check back frequently to see any updates or changes.

How to Contact Us

If you have any questions or concerns about this Privacy Statement, please contact us at privacyoffice@nuveen.com toll free at (800) 257-8787. 

 

For residents of Abu Dhabi Global Market (ADGM), please visit the following link for more information

For residents of Australia, please visit the following link for more information

For individuals located in Brazil, please visit the following link for more information / Para pessoas físicas localizadas no Brasil, por favor click aqui.

For California residents, please visit the following link for more information

For information on our use of personal data in accordance with the Data Protection Law of the Cayman Islands, please visit the following link for more information

For EEA and UK residents, please visit the following link for more information

For residents of Hong Kong, please visit the following link for more information

For residents of Singapore, please visit the following link for more information

For residents of Switzerland, please visit the following link for more information

 

Notices for Individuals Interacting with Schroders

For information on Schroders' privacy practices, please visit the following link for more information:

For California residents, please click here

For Non U.S.A residents, please click here

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This material must be preceded or accompanied by a prospectus for Nuveen Churchill Private Capital Income Fund (PCAP). This material does not constitute an offer to sell or a solicitation of an offer to buy any security. An offering is made only by a prospectus to individuals who meet minimum suitability requirements. This sales literature must be read in conjunction with a prospectus for PCAP in order to understand fully all the implications and risks of the offering of securities to which it relates. A copy of the prospectus must be made available to you in connection with this offering. Neither the Securities and Exchange Commission nor any other state securities regulator has approved or disapproved of our securities or determined if the prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

Nuveen products may be subject to market and other risk factors. See the applicable product literature.

Investments in middle market loans are subject to certain risks. Please consider all risks carefully prior to investing in any particular strategy. These investments are subject to credit risk and potentially limited liquidity, as well as interest rate risk, currency risk, prepayment and extension risk, inflation risk, and risk of capital loss. The consideration of environmental, social and governance ("ESG") factors as part of the investment process may influence investment decisions and result in outcomes that differ from those of investors that do not consider ESG factors, and there can be no assurance this will improve investment performance. The Company does not pursue a specific ESG strategy, and investments are selected based on pecuniary factors, including borrower creditworthiness and overall risk-return characteristics. In addition, ESG-related data, including third-party ratings, may be limited, inconsistent or inaccurate. Diversification is a technique to help reduce risk. It is not guaranteed to protect against loss.

Diversification is a technique to help reduce risk. It is not guaranteed to protect against loss.

Nuveen Churchill Private Capital Income Fund is a non-exchange traded business development company (“BDC”) that expects to invest in private credit investments, including private debt and equity investments in U.S. middle market companies owned by private equity firms issued in private offerings or issued by private companies.

Summary of Risk factors

Investing in our Common Shares involves a high degree of risk. You should purchase these securities only if you can afford the complete loss of your investment. You should read the prospectus carefully for a description of the risks associated with an investment in PCAP. See full information pertaining to “Risk Factors” in the prospectus. Also consider the following:

  • There is no assurance that we will achieve our investment objective.
  • You should not expect to be able to sell your Common Shares regardless of how we perform.
  • You should consider that you may not have access to the money you invest for an extended period of time.
  • We do not intend to list our Common Shares on any securities exchange, and we do not expect a secondary market in our Common Shares to develop.
  • Because you may be unable to sell your Common Shares, you will be unable to reduce your exposure in any market downturn.
  • We have implemented a share repurchase program, but only a limited number of Common Shares are eligible for repurchase and repurchases are subject to available liquidity and other significant restrictions and limitations. See “Share Repurchase Program” and “Risk Factors.”
  • An investment in our Common Shares is not suitable for you if you need access to the money you invest. See “Suitability Standards” and “Share Repurchase Program.”
  • We cannot guarantee that we will make distributions, and if we do, we may fund such distributions from sources other than cash flow from operations, including the sale of assets, borrowings, return of capital or offering proceeds, and although we generally expect to fund distributions from cash flow from operations, we have not established limits on the amounts we may pay from such other sources.
  • Distributions may also be funded in significant part, directly or indirectly, from temporary waivers or expense reimbursements borne by the Adviser or its affiliates, which may be subject to reimbursement to the Adviser or its affiliates. The repayment of any amounts owed to our affiliates will reduce future distributions to which you would otherwise be entitled.
  • We use and expect to continue to use leverage, which will magnify the potential for loss on amounts invested in us. See “Risk Factors - Risks Related to Debt Financing”.
  • We intend to invest in securities that are rated below investment grade by rating agencies or that would be rated below investment grade if they were rated. Below investment grade securities, which are often referred to as “junk,” have predominantly speculative characteristics with respect to the issuer’s capacity to pay interest and repay principal. They may also be illiquid and difficult to value.
  • An investor will pay a sales load of up to 3.50% and offering expenses of up to 0.75% on the amounts it invests in Class S shares. If you pay the maximum aggregate 4.25% for sales load and offering expenses for Class S shares at a purchase price of $25.00, you must experience a total return on your net investment of 4.44% in order to recover these expenses. Additionally, Class S shares are subject to a shareholder servicing and/or distribution fee equal to 0.85% per annum of the aggregate NAV as of the beginning of the first calendar day of the month, payable monthly.
  • An investor will pay a sales load of up to 1.50% and offering expenses of up to 0.75% on the amounts it invests in Class D shares. If you pay the maximum aggregate 2.25% for sales load and offering expenses for Class D shares at a purchase price of $25.00, you must experience a total return on your net investment of 2.30% in order to recover these expenses. Additionally, Class D shares are subject to a shareholder servicing and/or distribution fee equal to 0.25% per annum of the aggregate NAV as of the beginning of the first calendar day of the month, payable monthly.
  • An investor will pay offering expenses of up to 0.75% on the amounts it invests in Class I shares. Accordingly, you must experience a total return on your net investment of 0.76% in order to recover the expenses for Class I shares.

Distributed by Nuveen Securities, LLC. Churchill Asset Management is a registered investment advisor and an affiliate of Nuveen, LLC.

This material does not constitute a solicitation of an offer to buy, or an offer to sell securities in any jurisdiction in which such solicitation is unlawful or to any person to whom it is unlawful to make such an offer. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Financial professionals should independently evaluate the risks associated with products or services and exercise independent judgment with respect to their clients.

Past performance does not predict future returns. Actual results may vary. Diversification of an investor’s portfolio does not assure a profit or protect against loss. There is no guarantee that any of the estimates, targets or projections illustrated in these materials and any presentation of which they form a part will be achieved. Any references herein to any of PCAP’s past or present investments or its past or present performance have been provided for illustrative purposes only. It should not be assumed that these investments were or will be profitable or that any future investments by PCAP will be profitable or will equal the performance of these investments.

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