Nuveen Churchill Direct Lending (NCDL) Management Fees Payable (2019 - 2026)
Nuveen Churchill Direct Lending (NCDL) posted Management Fees Payable of $4.82 million for Q3 2026, down 6.0% from $5.13 million a year earlier and down 2.3% from the prior quarter.
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Analysis
Nuveen Churchill Direct Lending (NCDL) Management Fees Payable (2019 - 2026) Analysis & Trends
At the end of FY2025, Nuveen Churchill Direct Lending's Management Fees Payable came in at $5.05 million, up 27.6% from FY2024.
- Annual Management Fees Payable has increased for three consecutive years, with a three-year compound annual growth rate of 31.7% (FY2022 to FY2025).
- In prior years, Nuveen Churchill Direct Lending's Management Fees Payable was $3.96 million in FY2024 (+31.6%), $3.01 million in FY2023 (+36.0%) and $2.21 million in FY2022.
- The Q3 2026 figure stands as the lowest quarterly Management Fees Payable since Q1 2025.
- On a year-over-year basis, Management Fees Payable increased in six of the last eight quarters, with growth averaging 21.4%.
- The strongest year-over-year quarter for Management Fees Payable in the past five years was Q2 2024, with growth of 45.1%; the weakest was Q3 2026, with a decline of 6.0%.
- According to Business Quant data, Management Fees Payable for the three prior quarters was $4.93 million (Q2 2026), $4.94 million (Q1 2026) and $5.05 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Management 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 | - | 109.00 Mn |
| 9 | Annaly Capital Management | 13.83 Bn | 4.86 Bn | - | - |
| 10 | Nuveen Churchill Direct Lending | 581.78 Mn | 549.38 Mn | - | 4.82 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 4.82 Mn |
| Jun 30, 2026 | 4.93 Mn |
| Mar 31, 2026 | 4.94 Mn |
| Dec 31, 2025 | 5.05 Mn |
| Sep 30, 2025 | 5.13 Mn |
| Jun 30, 2025 | 5.18 Mn |
| Mar 31, 2025 | 3.91 Mn |
| Dec 31, 2024 | 3.96 Mn |
| Sep 30, 2024 | 3.87 Mn |
| Jun 30, 2024 | 3.59 Mn |
| Mar 31, 2024 | 3.26 Mn |
| Dec 31, 2023 | 3.01 Mn |
| Sep 30, 2023 | 2.72 Mn |
| Jun 30, 2023 | 2.47 Mn |
| Mar 31, 2023 | 2.31 Mn |
| Dec 31, 2022 | 2.21 Mn |
| Sep 30, 2022 | 2.00 Mn |
| Jun 30, 2022 | 1.73 Mn |
| Mar 31, 2022 | 1.52 Mn |
| Dec 31, 2021 | 1.38 Mn |
API Access
Nuveen Churchill Direct Lending Management 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=management-fees-payable&ticker=NCDL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "management-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=management-fees-payable&ticker=NCDL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();