TPG Twin Brook Capital Income Fund 8-K

What Happened

• TPG Twin Brook Capital Income Fund announced on March 26, 2026 that it declared cash distributions of $0.20 per share for each class of common shares. Record date is the open of business on March 31, 2026, and payments will be made on or about April 28, 2026 (cash or reinvested under the DRIP).
• The company reported net asset value (NAV) per share of $25.1850 for Class I, Class S and Class D as of February 28, 2026. Aggregate NAV was $2.5 billion, the investment portfolio fair value was $4.4 billion, and principal debt outstanding was $1.9 billion (debt-to-equity ≈ 0.77x).
• The Fund is continuing its continuous public offering (up to $5.0 billion). Through the March 2, 2026 subscription date the Fund has issued 101,277,362 shares for total consideration of $2,567.5 million (Class I, S and D totals shown below).

Key Details

• Distribution amounts (declared March 26, 2026; payable ~April 28, 2026):
  • Class I: Gross $0.2000, Servicing Fee $0.0000, Net $0.2000
  • Class S: Gross $0.2000, Servicing Fee $0.0182, Net $0.1818
  • Class D: Gross $0.2000, Servicing Fee $0.0053, Net $0.1947
• NAV and balance sheet (as of Feb. 28, 2026): NAV per share $25.1850; aggregate NAV $2.5B; portfolio fair value $4.4B; principal debt $1.9B; debt-to-equity ≈ 0.77x.
• Offering status (through Mar. 2, 2026): Shares issued — Class I 89,817,421 ($2,277.1M), Class S 11,312,694 ($286.7M), Class D 147,247 ($3.7M); total 101,277,362 shares, $2,567.5M raised. (Excludes DRIP reinvestment sales.)

Why It Matters

• Distributions: The announced $0.20 per-share distribution is the immediate cash/income event for shareholders; net payout varies by share class because of different shareholder servicing fees (important for income-focused investors).
• NAV and leverage: The NAV and the reported debt-to-equity (~0.77x) provide a snapshot of the Fund’s per-share value and leverage level as of Feb. 28, 2026 — useful when assessing risk and relative valuation.
• Offering activity: The Fund has raised about $2.57 billion of the $5.0 billion continuous offering so far, which can affect supply of shares and potential dilution over time; proceeds support portfolio growth and debt management.

Filed by the Fund and signed by Terrence Walters, Chief Financial Officer and Treasurer on March 27, 2026.