a SecondaryLink affiliate.
Why Join?News
Data
Investments Portfolio Composition Growth Capital Flows Tender Offers Returns Fees Ownership Market Activity
FundsGet Newsletter
Sign UpLogin
TPG Twin Brook Capital Income Fund is a non-diversified, closed-end management investment company that has elected to be regulated as a BDC under the 1940 Act. Its investment objective is to generate attractive, consistent total returns, predominantly in the form of current income and, to a lesser extent, capital appreciation. The Fund primarily invests in privately originated senior secured loans to U.S. lower middle market companies, generally with EBITDA under $25 million, and may opportunistically invest across the capital structure including unitranche, second lien, mezzanine loans, and equity. The Fund is externally managed by AGTB Fund Manager, LLC, an affiliate of TPG Angelo Gordon, and benefits from the sourcing, underwriting, and portfolio management capabilities of TPG Angelo Gordon and its subsidiary TPG Twin Brook. The Fund offers continuous subscriptions and conducts periodic repurchase offers to provide limited liquidity.
News and Notices
Twin Brook Capital Partners
2022
'40 Act
Non-Traded BDC
USD
Quarterly
Daily
1.25%
December 31
News and Notices
Portfolio Holdings
Portfolio Composition
Growth
Capital Flows
Tender Offers
Share Classes
Returns
Fees
Ownership
Operating Metrics
Per Page
10
1-10 of 143
Notices
Date
Time (ET)
Notice Type
Source
Notice
Mar 15, 2024
18:41
Marketing Materials, Performance
LXGPwoTH
TPG Twin Brook Capital Income Fund provided June 30, 2026 portfolio commentary, reporting a $4.8 billion portfolio, 4.9% year-to-date Class I total return and $563 million of second-quarter loan commitments.
May 10, 2026
16:44
Marketing Materials, Redemptions, Subscriptions
8YFY1GLR
TPG Twin Brook Capital Income Fund reported about $128 million of capital inflows from July 1 through September 10, 2026. It will honor all quarterly repurchase requests, representing 1.2% of June 30, 2026 shares outstanding.
May 28, 2025
17:04
Distributions
bncEIEIz
TPG Twin Brook Capital Income Fund declared August 2026 distributions of $0.2000 gross per common share, payable to August 31 shareholders around September 28 in cash or reinvested shares.
Jul 05, 2026
10:05
Fees, Redemptions
xifefxX0M
TPG Twin Brook Capital Income Fund launched a tender offer to repurchase up to 5,332,569 shares, or about 5%, at net asset value. Tenders are due September 1, 2026; shares repurchased within 12 months may face a 2% deduction.
Apr 30, 2025
18:09
Redemptions
gOWDSaQk
TPG Twin Brook Capital Income Fund reported final tender offer results: 2,088,337 shares were validly tendered and accepted, with about $52.5 million paid on or about July 31, 2026 at $25.20 per share.
Apr 30, 2026
16:10
Ownership
UUOOIYU
TPG Twin Brook Capital Income Fund ownership disclosure reports deemed beneficial ownership rose from 17.3 million to 23.3 million common shares, and from 18.0% to 21.3%, noting AGTB BDC Holdings accepted a $50 million capital contribution.
Nov 30, 2024
16:08
Ownership
MEE1TKBM
TPG GP A and affiliated Ten Percent Owners acquired 2.0 million TPG Twin Brook Capital Income Fund Class I common shares at $25.1993 per share, increasing reported indirect holdings to 23.2 million shares. Investors receive updated beneficial ownership information.
Jun 29, 2025
17:19
Distributions
bdFdVbe1P
TPG Twin Brook Capital Income Fund declared July 2026 gross distributions of $0.2000 per share across Class I, Class S and Class D common shares. July 31 record shareholders will receive cash distributions or reinvested shares around August 27.
Oct 01, 2025
16:33
Ownership, Subscriptions
AemYLOjR0
TPG Twin Brook Capital Income Fund ownership disclosure reports beneficial ownership increased from 18.0% to 19.6% after AGTB BDC Holdings accepted a $100 million capital contribution and purchased 4.0 million Class I common shares at $25.2108.
Oct 01, 2025
16:29
Ownership
6UxBztnb
TPG GP A and other 10% owners reported acquiring 3,966,554 Class I common shares of TPG Twin Brook Capital Income Fund at $25.2108 per share. AGTB BDC Holdings held 21,187,318 shares after the acquisition and Angelo Gordon held 161,736 shares.
Preview
News
null
REITs
BDCs
North America
Debt
Private Equity
Real Estate
Capital Flows
New Entrants
Interval CE Funds
TPG to launch non-traded REIT in 2027
Aug 12, 2026

The firm also provided updates on its private equity evergreen fund and non-traded BDC, as well as plans to launch new products targeting the wealth segment.

null
Contributors
Research & Stats
Debt
BDCs
Capital Flows
After the Storm: Why Private Credit Redemption Queues Will Endure
Jul 8, 2026

Mark Goldberg of Alternative Investments Market Intelligence analyzes why redemption queues across non-traded BDCs could take years to clear despite easing withdrawal demand.

null
BDCs
North America
Debt
TPG Twin Brook Capital Income Fund secures $225 million in debt issuance
Jun 11, 2026

The $4.5 billion non-traded BDC issued two tranches of Series D senior notes to institutional investors in a private placement.

TPG Twin Brook Capital Income Fund
Twin Brook Capital Partners is responsible for managing TPG Twin Brook Capital Income Fund.
TPG Twin Brook Capital Income Fund launched in 2022.
TPG Twin Brook Capital Income Fund is registered as a '40 Act fund.
TPG Twin Brook Capital Income Fund is structured as a Non-Traded BDC fund.
You can invest in TPG Twin Brook Capital Income Fund by meeting its eligibility requirements and subscribing through the fund's offering process or an approved platform. Visit their website for more details.
You can invest in TPG Twin Brook Capital Income Fund daily, subject to eligibility and fund subscription deadlines.
You can redeem shares of TPG Twin Brook Capital Income Fund quarterly, subject to redemption limits and notice requirements.
Shares of TPG Twin Brook Capital Income Fund can be purchased in USD.
TPG Twin Brook Capital Income Fund's fiscal year end is December 31.
TPG Twin Brook Capital Income Fund's net asset value was $2,687.5 million and its portfolio had a fair value of $4,828.5 million as of June 30, 2026.
Among other deal types, TPG Twin Brook Capital Income Fund primarily makes Debt Investments.
Among other asset classes, TPG Twin Brook Capital Income Fund primarily invests in Direct Lending.
Among other regions, TPG Twin Brook Capital Income Fund primarily invests in the USA and Globally.
TPG Twin Brook Capital Income Fund charges a 1.25% annual management fee, which is calculated based on NAV.
You can invest in TCAP-S shares with a minimum initial investment of $2,500.
You can invest in TCAP-I shares with a minimum subsequent investment of $500.
You will be subject to paying an early repurchase/redemption fee of 2%.
TPG Twin Brook Capital Income Fund's TCAP-I share class generated an annualized 1-month return of 9.81% and since-inception return of 9.13% as of June 30, 2026.
WHY JOIN?
Make data-driven decisions, build strategic connections and stay informed with every decision that evergreen funds make. Read More...