Nuveen Churchill Direct Lending (NCDL) Equity Average (2022 - 2026)

Nuveen Churchill Direct Lending recorded quarterly Equity Average of $869.6 million in Q1 2026, down 0.99% quarter-over-quarter from $878.3 million in Q4 2025, and down 7.99% year-over-year from $945.2 million in Q1 2025.

Nuveen Churchill Direct Lending's Equity Average history runs 5 years deep, the most recent figure standing at $869.6 million for Q1 2026.

  • In Q1 2026, Equity Average fell 7.99% year-over-year to $869.6 million; the TTM figure through Mar 2026 stood at $869.6 million (down 7.99% YoY), while the FY2025 annual figure was $922.8 million, up 7.41% from the prior year.
  • Equity Average came in at $869.6 million for Q1 2026 at Nuveen Churchill Direct Lending, down from $878.3 million in the prior quarter.
  • In the past five years, Equity Average ranged from a high of $992.3 million in Q2 2024 to a low of $414.2 million in Q2 2022.
  • A 5-year average of $751.7 million and a median of $871.4 million in 2024 frame the typical range for Equity Average.
  • Across the five-year window, Equity Average jumped 84.61% in 2024 and fell 10.51% in 2025, its largest moves.
  • Nuveen Churchill Direct Lending's Equity Average stood at $497.9 million in 2022, then soared by 39.28% to $693.4 million in 2023, then soared by 41.4% to $980.5 million in 2024, then declined by 10.42% to $878.3 million in 2025, then slipped by 0.99% to $869.6 million in 2026.
  • According to Business Quant data, Equity Average over the past three periods registered $869.6 million, $878.3 million, and $884.6 million for Q1 2026, Q4 2025, and Q3 2025 respectively.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Equity Avg. (Qtr)
1 BlackRock 158.51 Bn 148.89 Bn - 56.51 Bn
2 Blackstone 92.68 Bn 91.63 Bn - 14.44 Bn
3 Kkr 84.94 Bn 132.45 Bn - 54.71 Bn
4 Brookfield Asset Management 77.34 Bn 77.68 Bn - 8.75 Bn
5 Apollo Global Management 76.27 Bn 95.00 Bn 5.04 Bn 41.02 Bn
6 State Street 44.42 Bn 18.75 Bn - -
7 Ameriprise Financial 41.68 Bn 41.55 Bn 4.57 Bn 6.38 Bn
8 Northern Trust 31.21 Bn 31.21 Bn - 12.97 Bn
9 Ares Management 28.85 Bn 32.22 Bn - 6.32 Bn
10 Nuveen Churchill Direct Lending 661.29 Mn 651.05 Mn - 869.65 Mn

Historic Data

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DateValue
Mar 31, 2026 869.65 Mn
Dec 31, 2025 878.33 Mn
Sep 30, 2025 884.61 Mn
Jun 30, 2025 903.88 Mn
Mar 31, 2025 945.17 Mn
Dec 31, 2024 980.46 Mn
Sep 30, 2024 988.49 Mn
Jun 30, 2024 992.30 Mn
Mar 31, 2024 873.06 Mn
Dec 31, 2023 693.42 Mn
Sep 30, 2023 598.23 Mn
Jun 30, 2023 537.52 Mn
Mar 31, 2023 521.25 Mn
Dec 31, 2022 497.87 Mn
Sep 30, 2022 448.27 Mn
Jun 30, 2022 414.23 Mn