Private company

AB Private Credit Investors Corp

AB Private Credit Investors Corp is an investment fund that raised $621 million in 2017 (SEC Form D).1 It is headquartered in Austin, Texas.1

Last updated Oct 20, 2026.

Overview

  • HeadquartersAustin, Texas1
  • Incorporated inNY2
  • Business address405 Colorado Street, Suite 1500, Austin, Tx 787012
  • Filer category, Emerging growth company2
  • Legal formCorporation
  • Kind of organizationInvestment fund1

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income456$53.3M in 2025+183% since 2021
0$20.0M$40.0M$60.0M$80.0M2021: $18.8M$18.8M20212022: $34.8M$34.8M2022+85%2023: $49.3M$49.3M2023+42%2024: $67.3M$67.3M2024+36%2025: $53.3M$53.3M2025−21%
Fiscal year202120222023202420252026
Operating expenses$33.8M4$57.4M5$101.1M5$119.5M5
Income before tax$19.1M4$36.0M5$47.9M6$53.6M6$57.3M6
Income tax$278.5K4$1.2M5$523.4K6$359.0K6$637.2K6
Net income$18.8M4$34.8M5$49.3M6$67.3M6$53.3M6
Earnings per share$1.084$0.255$0.946$1.146$0.766
Earnings per share (diluted)$1.084$0.255$0.946$1.146$0.766
Shares (weighted, basic)28.4M shares442.8M shares552.3M shares659.1M shares669.9M shares6
Shares (weighted, diluted)28.4M shares442.8M shares552.3M shares659.1M shares669.9M shares6

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Corporate structure

AB Private Credit Investors Corp sits at the top of its group. 14 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

  • AB Private Credit Investors Corp Austin, Texas
    • ABPCI Direct Lending Fund CLO VI Depositor LLC Subsidiary · Delaware, United States
    • ABPCI Direct Lending Fund CLO XIII First Static Subsidiary Ltd Subsidiary · Jersey
    • ABPCI Direct Lending Fund CLO XIII LLC Subsidiary · Delaware, United States
    • ABPCI Direct Lending Fund CLO XIII Second Static Subsidiary Ltd Subsidiary · Jersey
    • ABPCIC AOM LLC Subsidiary · Delaware, United States
    • ABPCIC Avant LLC Subsidiary · Delaware, United States
    • ABPCIC Equity Holdings, LLC Subsidiary · Delaware, United States
    • ABPCIC Funding II LLC Subsidiary · Delaware, United States
    • ABPCIC Funding IV LLC Subsidiary · Delaware, United States
    • ABPCIC Funding V LLC Subsidiary · Delaware, United States
    • ABPCIC Global Radar, LLC Subsidiary · Delaware, United States
    • ABPCIC NC Holdings LLC Subsidiary · Delaware, United States
    • ABPCIC Swyft Holdings LLC Subsidiary · Delaware, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What AB Private Credit Investors Corp reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$105.8M6 Dec 31, 2025$52.2M6 Dec 31, 2024+102.8%

Properties, in its own words

The Fund maintains its principal executive office at 405 Colorado Street, Suite 1500, Austin, Texas 78701. The Fund does not own any real estate.

Item 2 of the 10-K filed Mar 26, 2026.10

Leadership

Who has led AB Private Credit Investors Corp, and when. Pick a name to see everywhere that person has worked.

President

  1. J. Brent Humphries2016
20202025
Board members and other officers (6)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorJohn G. Jordan named Sep 12, 202517

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • ABPCI Direct Lending Fund CLO VI Depositor LLC Delaware3
  • ABPCI Direct Lending Fund CLO XIII First Static Subsidiary Ltd Jersey3
  • ABPCI Direct Lending Fund CLO XIII LLC Delaware3
  • ABPCI Direct Lending Fund CLO XIII LTD Jersey3
  • ABPCI Direct Lending Fund CLO XIII Second Static Subsidiary Ltd Jersey3
  • ABPCIC AOM LLC Delaware3
  • ABPCIC Avant LLC Delaware3
  • ABPCIC Equity Holdings, LLC Delaware3
  • ABPCIC Funding II LLC Delaware3
  • ABPCIC Funding IV LLC Delaware3
  • ABPCIC Funding V LLC Delaware3
  • ABPCIC Global Radar, LLC Delaware3
  • ABPCIC NC Holdings LLC Delaware3
  • ABPCIC Swyft Holdings LLC Delaware3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • AB Private Credit CorpApr 30, 2015 to Oct 5, 20152

Timeline

  1. Sep 23, 20268-K Unregistered sale of shares18
  2. Sep 15, 20268-K Shareholder vote19
  3. Aug 18, 20268-K Entered a material agreement; New debt or obligation20
  4. Aug 4, 20268-K Other events21
  5. May 27, 20268-K Unregistered sale of shares22
  6. May 15, 20268-K Other events23
  7. Apr 27, 20268-K Entered a material agreement; New debt or obligation24
  8. Mar 30, 20268-K Entered a material agreement; New debt or obligation25
  9. Feb 25, 20268-K Entered a material agreement; New debt or obligation26
  10. Feb 20, 20268-K Unregistered sale of shares27
  11. Feb 12, 20268-K Entered a material agreement; New debt or obligation28
  12. Feb 10, 20268-K Entered a material agreement29

Filings

203 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 69 major events, 18 insider forms, 4 private raises, 92 other. The latest 20:

  1. Sep 23, 20268-K EDGAR
  2. Sep 15, 20268-K EDGAR
  3. Aug 28, 2026SC TO-I EDGAR
  4. Aug 18, 20268-K EDGAR
  5. Aug 14, 202610-Q EDGAR
  6. Aug 12, 2026SC TO-I/A EDGAR
  7. Aug 5, 2026DEFA14A EDGAR
  8. Aug 4, 20268-K EDGAR
  9. Jul 17, 2026DEFA14A EDGAR
  10. Jul 13, 2026DEFA14A EDGAR
  11. Jul 6, 2026DEFA14A EDGAR
  12. Jul 2, 2026DEFA14A EDGAR
  13. Jul 2, 2026DEFA14A EDGAR
  14. Jul 2, 2026DEFA14A EDGAR
  15. Jul 2, 2026DEFA14A EDGAR
  16. Jul 2, 2026DEFA14A EDGAR
  17. Jul 2, 2026DEFA14A EDGAR
  18. Jun 24, 2026ARS EDGAR
  19. Jun 23, 2026DEF 14A EDGAR
  20. Jun 5, 2026PRE 14A EDGAR

The 203 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

18 open-market trades by officers, directors and large owners since October 2021: 18 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 20, 2022Sebastian TerryDirectorBuy1,732,908$9.81$17.0MForm 4
May 20, 2022Sebastian TerryDirectorBuy0Form 4
Apr 21, 2022Jordan John G.DirectorBuy2,353$9.75$22.9KForm 4
Apr 21, 2022Sebastian TerryDirectorBuy3,076$9.75$30.0KForm 4
Apr 21, 2022Jordan John G.DirectorBuy0Form 4
Apr 21, 2022Sebastian TerryDirectorBuy0Form 4
Feb 17, 2022Sebastian TerryDirectorBuy2,018$9.91$20.0KForm 4
Feb 17, 2022Jordan John G.DirectorBuy1,715$9.91$17.0KForm 4
Feb 17, 2022Sebastian TerryDirectorBuy0Form 4
Feb 17, 2022Jordan John G.DirectorBuy0Form 4
Dec 22, 2021Sebastian TerryDirectorBuy1,226$9.79$12.0KForm 4
Dec 22, 2021Jordan John G.DirectorBuy1,042$9.79$10.2KForm 4
Dec 22, 2021Jordan John G.DirectorBuy0Form 4
Dec 22, 2021Sebastian TerryDirectorBuy0Form 4
Oct 22, 2021Sebastian TerryDirectorBuy2,449$9.80$24.0KForm 4
Oct 22, 2021Jordan John G.DirectorBuy2,082$9.80$20.4KForm 4
Oct 22, 2021Sebastian TerryDirectorBuy0Form 4
Oct 22, 2021Jordan John G.DirectorBuy0Form 4

From Forms 4 filed with the SEC.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Sep 30, 2017Raised $621 million in a private offering of equity Form D: 3,165 investors so far Form D

SEC filer profile

How AB Private Credit Investors Corp is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARAB Private Credit Investors Corp1
  • CIK0001634452
  • Employer ID (EIN)81-249135610
  • Filer statusNon-accelerated filer an emerging growth company; not a smaller reporting company; not a shell company10
  • Incorporated inMaryland10
  • Fiscal year endsDecember 311
  • Business address405 Colorado Street, Suite 1500, Austin, TX 787011
  • Phone(512) 721-29001
  • Shares outstanding81,021,752 as of Aug 14, 20268
  • Public float$0 as of Jun 30, 20256
  • AuditorPricewaterhouseCoopers LLP, New York PCAOB ID 238; no auditor attestation of internal control over financial reporting10
  • On EDGAR sinceApr 30, 20151
  • Filings356 in all: 8-K (103), DEFA14A (44), 10-Q (30), SC TO-I/A (28), SC TO-I (27), 4 (23), 4/A (21), 10-K (10)1
    All 29 form types

    40-17G (10), DEF 14A (9), 3 (8), D/A (8), 40-APP (6), 40-APP/A (6), ARS (4), PRE 14A (4), APP NTC (2), CORRESP (2), 10-12G (1), 10-12G/A (1), 40-17G/A (1), 8-K/A (1), APP ORDR (1), D (1), DEFR14A (1), N-54A (1), N-6F (1), NT 10-Q (1), PRER14A (1)

  • Latest filingsAnnual report (10-K) Mar 26, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Jun 23, 2026
    Latest 8-K (8-K) Sep 23, 2026

Risk factors and legal proceedings

The risks AB Private Credit Investors Corp names in Item 1A of its 10-K filed Mar 26, 2026: 78 risks under these headings, as written.10

  • Risks Related to the Fund’s Business and Structure
  • Risks Related to the Fund’s Investments
  • The Fund’s investment portfolio will be recorded at fair value, in accordance with policies and procedures approved by the Board and, as a result, there will be uncertainty as to the value of the Fund’s portfolio investments.
  • The Fund’s financial condition and results of operations will depend on its ability to effectively manage and deploy capital.
  • Inflation and Government Policy May Adversely Impact the Fund’s Portfolio Companies.
  • Increased Regulatory Scrutiny of Private Credit Markets.
  • A general increase in interest rates will likely have the effect of making it easier for the Adviser to receive incentive fees, without necessarily resulting in an increase in the Fund’s net earnings.
  • The Fund may face increasing competition for investment opportunities.
  • The Adviser has incentives to favor its other accounts and clients over the Fund, which are conflicts of interest that could be harmful to the Fund.
  • The Fund’s business model depends to a significant extent upon strong referral relationships. Any inability of the Adviser to maintain or develop these relationships, or the failure of these relationships to generate investment opportunities, could adversely affect the Fund’s business.
  • The Fund will be dependent upon the Adviser’s key personnel for the Fund’s future success.
  • The Fund’s success will depend on the ability of the Adviser to attract and retain qualified personnel in a competitive environment.
The other 68 risks
  • Misconduct by employees of the Adviser or by third-party service providers could cause significant losses to the Fund.
  • There are significant potential conflicts of interest which could impact the Fund’s investment returns.
  • The decisions made with respect to the Fund by the Adviser may differ from decisions made by the Adviser with respect to its other clients.
  • The Fund’s access to confidential information may restrict its ability to take action with respect to some investments, which, in turn, may negatively affect its results of operations.
  • The Fund’s ability to enter into transactions with its affiliates is restricted.
  • The compensation the Fund will pay to the Adviser was not determined on an arm’s-length basis. Thus, the terms of such compensation may be less advantageous to the Fund than if such terms had been the subject of arm’s-length negotiations.
  • Even in the event the value of your investment declines, the base management fee and, in certain circumstances, the incentive fee will still be payable to the Adviser.
  • The Fund’s incentive fee may induce the Adviser to pursue speculative investments and to use leverage when it may be unwise to do so.
  • The Small Business Credit Availability Act allows the Fund to incur additional leverage, which may increase the risk of investing with the Fund.
  • Increased leverage may magnify the Fund’s exposure to risks associated with changes in interest rates.
  • The Adviser and the Administrator have the right to resign on 60 days’ notice, and the Fund may not be able to find a suitable replacement for either within that time, or at all, resulting in a disruption in the Fund’s operations that could adversely affect its financial condition, business and results of operations.
  • The Adviser’s liability is limited under the Advisory Agreement and the Fund has agreed to indemnify the Adviser against certain liabilities, which may lead the Adviser to act in a riskier manner on the Fund’s behalf than it would when acting for its own account.
  • The Adviser may not be able to achieve the same or similar returns as those achieved by Mr. Humphries and the other members of the Adviser’s core investment team while they were employed at prior positions.
  • Investors may default on Capital Calls.
  • Any failure on the Fund’s part to maintain its status as a BDC would reduce its operating flexibility.
  • Regulations governing the Fund’s operation as a BDC affect its ability to raise additional capital and the way in which it does so. As a BDC, the necessity of raising additional capital may expose the Fund to risks, including the typical risks associated with leverage.
  • To the extent that the Fund borrows money, the potential for gain or loss on amounts invested in the Fund will be magnified and may increase the risk of investing in the Fund. Borrowed money may also adversely affect the return on the Fund’s assets, reduce cash available to service the Fund’s debt or for distribution to the Fund’s stockholders, and result in losses.
  • The Fund is subject to risks associated with the current interest rate environment and to the extent the Fund uses debt to finance its investments, changes in interest rates will affect its cost of capital and net investment income.
  • Investments in which the Fund has a non-controlling interest may involve risks specific to third-party management of those investments.
  • The Fund may experience fluctuations in its quarterly and annual results.
  • The Fund is a non-diversified investment company within the meaning of the 1940 Act, and therefore it is not limited with respect to the proportion of its assets that may be invested in securities of a single issuer.
  • The Board is authorized to reclassify any unissued Shares into one or more classes of preferred stock, which could convey special rights and privileges to its owners.
  • The Board may change the Fund’s investment objective, operating policies and strategies without prior notice or stockholder approval, the effects of which may be adverse.
  • The Fund will be subject to corporate-level U.S. federal income tax if it is unable to qualify as a RIC.
  • There are risks that may arise in connection with the rules under ERISA related to investment by ERISA Plans.
  • The Fund may have difficulty paying its required distributions if it recognizes income before or without receiving cash representing such income.
  • The Fund may in the future choose to pay dividends in its own stock, in which case stockholders may be required to pay tax in excess of the cash they receive.
  • There is a risk that the Fund’s stockholders may not receive any distributions.
  • For any period that the Fund does not qualify as a “publicly offered regulated investment company,” as defined in the Code, stockholders will be taxed as though they received a distribution of some of its expenses.
  • The Fund is subject to risks in using custodians, administrators and other agents.
  • The Fund expends significant financial and other resources to comply with the requirements of the Exchange Act and the Sarbanes-Oxley Act.
  • There may be state licensing requirements.
  • Investors in the Private Offering will be subject to transfer restrictions.
  • Changes in laws or regulations governing the Fund’s operations may adversely affect its business.
  • Global economic, political and market conditions may adversely affect our business, results of operations and financial condition.
  • Uncertainty about presidential administration initiatives could negatively impact our business, financial condition and results of operations.
  • Legislative or regulatory tax changes could have an adverse impact on the Fund and its shareholders.
  • The Fund may invest in derivatives or other assets that expose it to certain risks, including market risk, liquidity risk and other risks similar to those associated with the use of leverage.
  • A disruption in the capital markets and the credit markets could impair the Fund’s ability to borrow money and negatively affect its business.
  • Price declines and illiquidity in the corporate debt markets may adversely affect the fair value of the Fund’s portfolio investments, reducing the Fund’s net asset value through increased net unrealized depreciation.
  • Increased geopolitical unrest, terrorist attacks, military action and acts of war, natural disasters or outbreaks of epidemic, pandemic or contagious diseases may affect any market for the Fund’s common stock, impact the businesses in which it invests and harm its business, operating results and financial condition.
  • The failure in cyber security systems, as well as the occurrence of events unanticipated in the Fund’s disaster recovery systems and management continuity planning could impair its ability to conduct business effectively.
  • The Fund can be highly dependent on information systems and systems failures could significantly disrupt its business, which may, in turn, negatively affect the market price of its common stock and its ability to pay distributions.
  • We are subject to risks associated with artificial intelligence and machine learning technology.
  • The Fund’s investments are very risky and highly speculative.
  • An investment strategy focused primarily on privately held companies presents certain challenges, including the lack of available information about these companies and a greater vulnerability to economic downturns.
  • The Fund’s investment activities subject the Fund to third party litigation risks.
  • The Adviser and its affiliates, including the Fund’s officers and some of the Fund’s directors, may face conflicts of interest caused by compensation arrangements with the Fund and its affiliates, which could result in increased risk-taking by the Fund.
  • The time and resources that individuals associated with the Adviser devote to the Fund may be diverted, and the Fund may face additional competition due to the fact that the Adviser is not prohibited from raising money for or managing other entities that make the same types of investments that the Fund targets.
  • The Adviser will experience conflicts of interest in connection with the management of the Fund’s business affairs.
  • Certain investment analyses and decisions by the Adviser may be required to be undertaken on an expedited basis.
  • A redemption of convertible securities held by the Fund could have an adverse effect on its ability to achieve its investment objective.
  • The Fund’s portfolio companies may incur debt that ranks equally with, or senior to, its investments in such companies.
  • If the Fund cannot obtain debt financing or equity capital on acceptable terms, its ability to acquire investments and to expand its operations will be adversely affected.
  • The Fund may invest in mezzanine securities. To the extent the Fund invests in mezzanine securities, they and other investments are expected to be unsecured and made in companies whose capital structures have significant indebtedness ranking ahead of the investments, all or a significant portion of which may be secured.
  • The Fund may invest in debt securities and instruments that are rated below investment grade by recognized rating agencies or will be unrated and face ongoing uncertainties and exposure to adverse business, financial or economic conditions and the issuer’s failure to make timely interest and principal payments.
  • Certain of the Fund’s investments are exposed to the credit risk of the counterparties with which, or the dealers, brokers and exchanges through which, the Fund deals, whether in exchange-traded or OTC transactions.
  • Certain of the Fund’s investments may be adversely affected by laws relating to fraudulent conveyance or voidable preferences.
  • There may be circumstances in which the Fund’s debt investments could be subordinated to claims of other creditors or the Fund could be subject to lender liability claims.
  • Second priority liens on collateral securing loans that the Fund makes to its portfolio companies may be subject to control by senior creditors with first priority liens. If there is a default, the value of the collateral may not be sufficient to repay in full both the first priority creditors and the Fund.
  • Economic recessions or downturns could impair the Fund’s portfolio companies and harm its operating results.
  • The Fund and its portfolio companies may maintain cash balances at financial institutions that exceed federally insured limits and may otherwise be materially affected by adverse developments affecting the financial services industry, such as actual events or concerns involving liquidity, defaults or non-performance by financial institutions or transactional counterparties.
  • The lack of liquidity in the Fund’s investments may adversely affect its business.
  • The net asset value of the Fund’s common stock may fluctuate significantly.
  • The Fund’s right to make Capital Calls may be pledged as collateral under the Revolving Credit Facilities or any other future borrowing facility.
  • The Fund has not yet identified all of the portfolio companies it will invest in using the proceeds of the Private Offering.
  • The Fund’s failure to make follow-on investments in its portfolio companies could impair the value of its portfolio.
  • The Fund’s portfolio will lack diversification among portfolio companies, which will subject it to a risk of significant loss if one or more of these companies default on their obligations under any of their debt instruments.

Legal proceedings

The Fund is not currently subject to any material legal proceedings, nor, to the Fund’s knowledge, is any material legal proceeding threatened against the Fund. From time to time, the Fund may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of the Fund’s rights under contracts with its portfolio companies. The Fund’s business is also subject to extensive regulation, which may result in regulatory proceedings against the Fund. While the outcome of these legal proceedings cannot be predicted with certainty, the Fund does not expect that these proceedings will have a material effect upon its financial condition or results of operations.

The opening of Item 3, Legal Proceedings.10

Sources

The numbers on this page point here. Each one links to the record it came from.

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    SEC EDGAROther events
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    SEC EDGAROther events
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