Nuveen Churchill Direct Lending (NCDL) Incentive Fees Payable (2025 - 2026)
Nuveen Churchill Direct Lending (NCDL) recorded Incentive Fees Payable of $2.81 million in Q3 2026, down 14.6% from $3.29 million a year earlier but up 335.3% from the prior quarter.
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Analysis
Nuveen Churchill Direct Lending (NCDL) Incentive Fees Payable (2025 - 2026) Analysis & Trends
Starting with Q2 2025, Nuveen Churchill Direct Lending's Incentive Fees Payable history includes 6 quarters.
- Quarterly Incentive Fees Payable has ranged from $646,000 in Q2 2026 to $3.29 million in Q3 2025 over the past five years.
- Per Business Quant, the preceding three quarters came in at $646,000 (Q2 2026), $1.54 million (Q1 2026) and $2.81 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Incentive Fees Payable (Qtr) |
|---|---|---|---|---|---|
| 1 | Royalty Pharma | 39.80 Bn | 40.13 Bn | - | - |
| 2 | Rocket Companies | 38.90 Bn | 27.72 Bn | - | - |
| 3 | Orix | 38.66 Bn | 9.30 Bn | 13.83 Bn | - |
| 4 | Federal National Mortgage Association Fannie Mae | 26.46 Bn | -16,107.65 Bn | - | - |
| 5 | Synchrony Financial | 22.47 Bn | -45.15 Bn | - | - |
| 6 | Affirm Holdings | 22.07 Bn | 15.11 Bn | - | - |
| 7 | Royal Gold | 21.71 Bn | 20.92 Bn | 402.46 Mn | - |
| 8 | Ares Capital | 13.84 Bn | 11.59 Bn | - | 166.00 Mn |
| 9 | Annaly Capital Management | 13.83 Bn | 4.86 Bn | - | - |
| 10 | Nuveen Churchill Direct Lending | 581.78 Mn | 549.38 Mn | - | 2.81 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 2.81 Mn |
| Jun 30, 2026 | 646,000.00 |
| Mar 31, 2026 | 1.54 Mn |
| Dec 31, 2025 | 2.81 Mn |
| Sep 30, 2025 | 3.29 Mn |
| Jun 30, 2025 | 2.83 Mn |
API Access
Nuveen Churchill Direct Lending Incentive Fees Payable API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=incentive-fees-payable&ticker=NCDL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "incentive-fees-payable", "ticker": "NCDL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=incentive-fees-payable&ticker=NCDL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();