Private company

Nuveen Churchill BDC V

Investment fund based in New York, United States, incorporated in Delaware1

In its 2026 annual report the company says: “We are a closed-end, externally managed, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended.”5

Last updated Oct 20, 2026.

Overview

  • HeadquartersNew York, New York1
  • Incorporated inDE2
  • Business address375 Park Avenue, 9Th Floor, New York, Ny 101522
  • Filer category, Emerging growth company2
  • Legal formOther
  • 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

Fiscal year20252026
Cash$21.4M4
Total assets$824.3M4
Long-term debt$468.5M4
Total liabilities$487.0M4
Retained earnings$324.0K4
Shareholders’ equity$337.3M4
Shares outstanding13.5M shares413.5M shares4

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Corporate structure

Nuveen Churchill BDC V sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Nuveen Churchill BDC V

  • TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA Filed SCHEDULE 13G/A on Nuveen Churchill BDC V, latest Feb 13, 2026 (2 filings since Aug 28, 2025)
  • Nuveen Churchill BDC V New York, New York

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Nuveen Churchill BDC V 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.

Properties, in its own words

We do not own any real estate or other physical properties materially important to our operation. Our corporate headquarters are located at 375 Park Avenue, 9th Floor, New York, NY 10152, and are provided by the Administrator in accordance with the terms of our Administration Agreement. We believe that our office facilities are suitable and adequate for our business as it is contemplated to be conducted.

Item 2 of the 10-K filed Mar 2, 2026.5

Leadership

Who has led Nuveen Churchill BDC V, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Kenneth J. Kencel2025–now

President

  1. Kenneth J. Kencel2025–now

Chief financial officer

  1. Shaul Vichness2025–now
Board members and other officers (3)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerMarissa D. Hassen named Aug 6, 202511
  • DirectorDee Dee A. Sklar named Aug 6, 202511
  • DirectorJames J. Ritchie named Aug 6, 202511
  • DirectorSarah D. Smith named Aug 6, 202511
  • DirectorStephen D. Potter named Aug 6, 202511

Timeline

  1. May 6, 20268-K Completed an acquisition or sale; Shareholder vote12
  2. Apr 2, 20268-K Entered a material agreement; Regulation FD disclosure13
  3. Jan 6, 20268-K Unregistered sale of shares14
  4. Aug 5, 2025New chief executive Kenneth J. Kencel becomes CEO6

Filings

29 filings to the SEC since October 2021: 1 annual reports, 1 quarterly reports, 3 major events, 11 insider forms, 2 large holders, 1 private raises, 10 other. The latest 20:

  1. May 12, 202615-12G EDGAR
  2. May 12, 2026N-54C EDGAR
  3. May 6, 20268-K EDGAR
  4. Apr 22, 2026DEFM14A EDGAR
  5. Apr 2, 2026PREM14A EDGAR
  6. Apr 2, 20268-K EDGAR
  7. Mar 2, 202610-K EDGAR
  8. Feb 13, 2026SCHEDULE 13G/A EDGAR
  9. Jan 6, 20268-K EDGAR
  10. Jan 2, 20264 EDGAR
  11. Nov 13, 202510-Q EDGAR
  12. Aug 28, 2025SCHEDULE 13G EDGAR
  13. Aug 6, 2025D EDGAR
  14. Aug 5, 202540-17G EDGAR
  15. Aug 5, 2025N-54A EDGAR
  16. Aug 5, 20253 EDGAR
  17. Aug 5, 20253 EDGAR
  18. Aug 5, 20253 EDGAR
  19. Aug 5, 20253 EDGAR
  20. Aug 5, 20253 EDGAR

The 29 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

1 open-market trades by officers, directors and large owners since October 2021: 1 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Dec 30, 2025TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA10% ownerBuy1,199,520$25.01$30.0MForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

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

  1. Aug 6, 2025Filed a private offering of equity Form D: named in the filing: James J. Ritchie, Stephen D. Potter, Charmagne J. Kukulka, Dee Dee A. Sklar, Marissa D. Hassen, Kenneth J. Kencel Form D

SEC filer profile

How Nuveen Churchill BDC V is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARNuveen Churchill BDC V1
  • CIK0002071136
  • Employer ID (EIN)39-69336815
  • Filer statusNon-accelerated filer an emerging growth company; not a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 311
  • Business address375 Park Avenue, 9Th Floor, New York, NY 101521
  • Phone212-478-92001
  • Shares outstanding13,479,560 shares as of Mar 2, 20265
  • AuditorPricewaterhouseCoopers LLP, New York, New York PCAOB ID 268; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceJun 6, 20251
  • Filings31 in all: 3 (10), 8-K (3), 10-12G/A (2), 40-APP/A (2), 10-12G (1), 10-K (1), 10-Q (1), 15-12G (1)1
    All 18 form types

    4 (1), 40-17G (1), D (1), DEFM14A (1), N-54A (1), N-54C (1), PREM14A (1), SCHEDULE 13G (1), SCHEDULE 13G/A (1), UPLOAD (1)

  • Latest filingsAnnual report (10-K) Mar 2, 2026
    Quarterly report (10-Q) Nov 13, 2025
    Latest 8-K (8-K) May 6, 2026

Risk factors and legal proceedings

The risks Nuveen Churchill BDC V names in Item 1A of its 10-K filed Mar 2, 2026: 77 risks under these headings, as written.5

  • We are subject to risks related to our business and structure.
  • We are subject to risks related to our operations.
  • We are subject to risks related to an investment in our shares.
  • Risks Related to our Business and Structure
  • We have a limited operating history.
  • We are currently operating in a period of significant market disruption and economic uncertainty, which may have a negative impact on our business, financial condition and operations. An extended disruption in the capital markets and the credit markets could negatively affect our business.
  • The amount of any distributions we may make is uncertain. Our distributions may exceed our earnings, particularly during the period before we have substantially invested the net proceeds from our offering. Therefore, portions of the distributions that we make may represent a return of capital to you that will lower your adjusted tax basis in your shares and reduce the amount of funds we have for investment in targeted assets.
  • Any unrealized losses we experience on our portfolio may be an indication of future realized losses, which could reduce our income available for distribution.
  • We are an “emerging growth company” under the JOBS Act, and we cannot be certain if the reduced disclosure requirements applicable to emerging growth companies will make our shares less attractive to investors.
  • Our financial condition and results of operations depend on our ability to manage our business effectively.
  • We operate in a highly competitive market for investment opportunities, which could reduce returns and result in losses.
  • Inflation may adversely affect the business, results of operations and financial condition of our portfolio companies, which may, in turn, impact the valuation of such portfolio companies.
The other 66 risks
  • We are exposed to risks associated with changes in interest rates.
  • We may experience fluctuations in our quarterly operating results.
  • The effect of global climate change may impact the operations and valuation of our portfolio companies.
  • Environmental, social and governance factors may adversely affect our business or cause us to alter our business strategy.
  • The data we use to make ESG-related determinations may not guarantee that our investments satisfy applicable ESG criteria.
  • We may not be able to obtain all required state licenses.
  • Downgrades of the U.S. credit rating, impending automatic spending cuts or government shutdowns could negatively impact our liquidity, financial condition and earnings.
  • U.S. policy changes may adversely affect our business.
  • Global economic, political and market conditions may adversely affect our business or cause us to alter our business strategy.
  • New or modified laws or regulations governing our operations could adversely affect our business.
  • We cannot predict how new tax legislation will affect us, our Adviser, our investments, or our shareholders, and any such legislation could adversely affect our business.
  • Changes to U.S. tariff and import/export regulations may have a negative effect on the operations of our portfolio companies and, in turn, negatively impact us.
  • The Board may change our investment objective, operating policies and strategies without prior notice or shareholder approval, the effects of which may be adverse.
  • Terrorist attacks, acts of war, global health emergencies or natural disasters may affect any market for our shares, impact the businesses in which we invest and harm our business, operating results and financial condition.
  • The failure of cybersecurity protection systems, as well as the occurrence of events unanticipated in our disaster recovery systems and management continuity planning, could impair our ability to conduct business effectively.
  • We may be subject to risks associated with artificial intelligence.
  • Our business is dependent on bank relationships and any strain on the banking system may adversely impact us.
  • If the Adviser or the Administrator are unable to maintain the availability of their electronic data systems and safeguard the security of their data, their and our ability to conduct business may be compromised, which could impair liquidity, disrupt business, damage their and our reputation and cause losses.
  • We may incur lender liability as a result of our lending activities.
  • We may incur liability as a result of providing managerial assistance to our portfolio companies.
  • Churchill may not be able to achieve the same or similar returns as those achieved by our senior management and investment personnel while they were employed at prior positions.
  • Soft dollars and research received and conducted on our behalf will be shared by others.
  • There are significant financial and other resources necessary to comply with the requirements of being an SEC reporting entity, and non-compliance may adversely affect us.
  • Efforts to comply with Section 404 of the Sarbanes-Oxley Act involve significant expenditures, and non-compliance with Section 404 of the Sarbanes-Oxley Act may adversely affect us.
  • Risks Related to Our Operations and Investments
  • Economic recessions or downturns could impair our portfolio companies and harm our operating results.
  • Our investments in leveraged portfolio companies may be risky, and we could lose all or part of our investment.
  • We typically invest in middle market, privately owned companies, which may present a greater risk of loss than loans to larger companies.
  • We are subject to risks associated with our investments in senior loans.
  • We are subject to risks associated with our junior capital investments.
  • We are subject to risks associated with our investments and trading of liquid assets, including broadly syndicated loans.
  • We are subject to risks associated with our investments in unitranche secured loans and securities.
  • We are subject to risks associated with “covenant-lite” loans.
  • We are subject to risks associated with syndicated loans.
  • We are subject to risks associated with our investments in equity-related securities.
  • The loans we make in portfolio companies may become non-performing.
  • The lack of liquidity in our investments may adversely affect our business.
  • Price declines and illiquidity in the corporate debt markets may adversely affect the fair value of our portfolio investments, reducing our NAV through increased net unrealized depreciation.
  • Our portfolio companies may prepay loans, which may reduce stated yields if capital returned cannot be invested in transactions with equal or greater expected yields.
  • We may be subject to risks associated with our investments in special situation companies.
  • We are subject to risks associated with our investments in the business services industry.
  • Our investments in the healthcare sector face considerable uncertainties.
  • Our investment strategy focuses on technology-related companies, which are subject to many risks, including volatility, intense competition, shortened product life cycles, changes in regulatory and governmental programs and periodic downturns.
  • We are exposed to risks associated with any OID income and PIK interest required to be included in taxable and accounting income prior to receipt of cash representing such income.
  • We are a non-diversified investment company within the meaning of the 1940 Act, and therefore we are not limited by the 1940 Act with respect to the proportion of our assets that may be invested in securities of a single issuer.
  • We may hold the debt securities of leveraged companies that may, due to the significant volatility of such companies, enter into bankruptcy proceedings.
  • Our failure to make follow-on investments in our portfolio companies could impair the value of our portfolio.
  • We may not be able to exercise control over our portfolio companies or to prevent decisions by management of our portfolio companies, which could decrease the value of our investments.
  • Defaults by our portfolio companies will harm our operating results.
  • Our portfolio companies may incur debt that ranks equally with, or senior to, the loans and other investments we make in such portfolio companies.
  • The disposition of our investments in private companies may result in contingent liabilities.
  • We may enter into repurchase agreements.
  • We may be unsuccessful in syndicating our co-investments, which may cause us to have more exposure to an investment than was originally intended.
  • Risks Related to our Adviser and its Affiliates
  • We depend upon the senior management of Churchill for our success, and upon the strong referral relationships of Churchill’s investment professionals with financial institutions, sponsors and investment professionals. Any inability of Churchill to maintain or develop these relationships, or the failure of these relationships to generate investment opportunities, could adversely affect our business.
  • The Adviser and its affiliates, including our officers and our interested trustee, will face conflicts of interest caused by compensation arrangements with us and our affiliates, which could result in actions that are not in the best interests of our shareholders.
  • We may be obligated to pay the Adviser incentive compensation even if we incur a net loss due to a decline in the value of our portfolio.
  • There may be conflicts related to obligations that senior investment professionals of the Adviser and members of its investment committees have to other clients. There may be conflicts related to the investment and related activities of TIAA and the Adviser and these conflicts could prevent us from making or disposing of certain investments on the terms desired.
  • The time and resources that individuals employed by the Adviser will devote to us may be diverted, and we may face additional competition because individuals employed by the Adviser are not prohibited from raising money for or managing other entities that make the same types of investments that we target.
  • The recommendations that Churchill gives to us may differ from those rendered to its other clients.
  • Members of the Adviser's investment team or investment committees may, from time to time, possess material nonpublic information, limiting our investment discretion.
  • Our management and incentive fee structure may create incentives for Churchill and certain of its investment professionals that are not fully aligned with the interests of our shareholders.
  • Our incentive fee may induce Churchill to make certain investments, including speculative investments.
  • TIAA has made a significant investment in us, which may present certain conflicts of interest.
  • Our ability to enter into transactions with our affiliates is restricted, which may limit the scope of investments available to us.
  • The Adviser can resign on 60 days’ notice, and we may not be able to find a suitable replacement within that time, resulting in a disruption in our operations that could adversely affect our financial condition, business and results of operations.
  • The Administrator can resign on 60 days’ notice from its role as our administrator under the Administration Agreement, and we may not be able to find a suitable replacement within that time, resulting in a disruption in our operations that could adversely affect our financial condition, business and results of operations.
  • Our access to confidential information may restrict our ability to take action with respect to some of our investments, which, in turn, may negatively affect our results of operations.

Legal proceedings

We and our consolidated subsidiaries are not currently subject to any material legal proceedings, nor, to our knowledge, are any material legal proceedings threatened against us or them. From time to time, we and/or our consolidated subsidiaries may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of our rights under contracts with our portfolio companies. Our business is subject to extensive regulation, which may result in regulatory proceedings against us.

The opening of Item 3, Legal Proceedings.5

Sources

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