# EDGAR Filing Document

**Accession Number:** 0001982701
**File Stem:** 0001193125-25-334433
**Filing Date:** 2025-12
**Character Count:** 12283
**Document Hash:** a06945230b695524d62c3bb5a028768f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-334433.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0001193125-25-334433

**CONFORMED SUBMISSION TYPE**: 424B3

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AB Private Lending Fund
- **CENTRAL INDEX KEY:** 0001982701

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 424B3
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-280361
- **FILM NUMBER:** 251607388

**BUSINESS ADDRESS:**
- **STREET 1:** 405 COLORADO STREET
- **STREET 2:** SUITE 1500
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78701
- **BUSINESS PHONE:** 512-721-2900

**MAIL ADDRESS:**
- **STREET 1:** 405 COLORADO STREET
- **STREET 2:** SUITE 1500
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78701

**Filed pursuant to Rule 424(b)(3)** 

**File No. 333-280361** 

**AB PRIVATE LENDING FUND** 

**SUPPLEMENT NO. 2 DATED DECEMBER 29, 2025** 

**TO THE PROSPECTUS DATED MAY 14, 2025** 

**This prospectus supplement ("Supplement") is part of and should be read in conjunction with the prospectus of AB Private Lending Fund ("we," "us," "our," "AB-LEND" or the "Fund"), dated May 14, 2025 (the "Prospectus"). Unless otherwise defined herein, capitalized terms used in this Supplement shall have the same meanings as in the Prospectus.** 

The purpose of this Supplement is to update the Prospectus.

**Updates to Prospectus** 

**The following updates to the Prospectus are effective immediately:** 

*The following replaces the "Suitability Standards—Alabama" section of the Prospectus in its entirety:* 

**Alabama**—Alabama investors must have either (i) a minimum of $100,000 annual gross income and a net worth of $100,000, or (ii) a net worth of at least $350,000. In addition, an Alabama investor's aggregate investment in us and other non-traded direct participation programs shall not exceed 10% of such investor's liquid net worth at the time of investment in us. This concentration limit does not apply to investments made as a result of participation in a distribution reinvestment program nor to an investor who is an "accredited investor" as defined in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended. Liquid net worth is defined as that portion of net worth consisting of cash, cash equivalents and readily marketable securities.

*The following replaces Item 10 under the "Subscriber Signatures" section of "Appendix A: Form of Subscription Agreement" in its entirety:* 

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| | | |
|:---|:---|:---|
|  |  | ***Initials*** |
| **10.** | **If you live in any of the following states, please read the following carefully and check the appropriate box: Alabama, California, Idaho, Iowa, Kansas, Kentucky, Maine, Massachusetts, Mississippi, Missouri, Nebraska, New Jersey, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Tennessee, and Vermont.** |  |
|  | If I am an **Alabama** resident, I have either (i) a minimum of $100,000 annual gross income and a net worth of $100,000, or (ii) a net worth of at least $350,000. In addition, an Alabama investor's aggregate investment in us and other non-traded direct participation programs shall not exceed 10% of such investor's liquid net worth at the time of investment in us. This concentration limit does not apply to investments made as a result of participation in a distribution reinvestment program nor to an investor who is an "accredited investor" as defined in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended. Liquid net worth is defined as that portion of net worth consisting of cash, cash equivalents and readily marketable securities. |  |
|  | ☐ Yes ☐ No |  |
|  | If I am a **California** resident, I may not invest more than 10% of my liquid net worth in AB Private Lending Fund. |  |
|  | ☐ Yes ☐ No |  |

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|:---|
| If I am an **Idaho** resident, I have either (a) a net worth of $85,000 and an annual income of $85,000 or (b) a liquid net worth of $300,000. |
| ☐ Yes ☐ No |
| If I am an **Iowa** resident, I (i) have either (a) an annual gross income of at least $100,000 and a net worth of at least $100,000, or (b) a net worth of at least $350,000 (net worth should be determined exclusive of home, auto and home furnishings); and (ii) limit my aggregate investment in AB Private Lending Fund and in the securities of other non-traded business development companies ("BDCs") to 10% of my liquid net worth (liquid net worth should be determined as that portion of net worth that consists of cash, cash equivalents and readily marketable securities). Investors who are accredited investors as defined in Regulation D under the Securities Act are not subject to the foregoing concentration limit. |
| ☐ Yes ☐ No |
| If I am a **Kansas** resident, I understand that it is recommended by the Office of the Kansas Securities Commissioner that Kansas investors limit their aggregate investment in our securities and other similar investments to not more than 10% of their liquid net worth. Liquid net worth shall be defined as that portion of the purchaser's total net worth that is comprised of cash, cash equivalents, and readily marketable securities, as determined in conformity with GAAP. |
| ☐ Yes ☐ No |
| If I am a **Kentucky** resident, my investment in AB Private Lending Fund or its affiliates may not exceed 10% of my liquid net worth. "Liquid net worth" is defined as that portion of net worth that is comprised of cash, cash equivalents and readily marketable securities. |
| ☐ Yes ☐ No |
| If I am a **Maine** resident, I acknowledge that it is recommended by the Maine Office of Securities that my aggregate investment in this offering and similar direct participation investments not exceed 10% of my liquid net worth. For this purpose, "liquid net worth" is defined as that portion of net worth that consists of cash, cash equivalents and readily marketable securities. |
| ☐ Yes ☐ No |
| If I am a **Massachusetts** resident, I have either (a) a minimum liquid net worth of at least $100,000 and a minimum annual gross income of not less than $85,000, or (b) a minimum liquid net worth of $350,000. For these purposes, "liquid net worth" is defined as that portion of net worth (total assets exclusive of home, home furnishings and automobiles, minus total liabilities) that consists of cash, cash equivalents and readily marketable securities. In addition, my investment in AB Private Lending Fund, its affiliates and other non-publicly-traded direct investment programs (including real estate investment trusts, business development companies, oil and gas programs, equipment leasing programs and commodity pools, but excluding unregistered, federally and state exempt private offerings) may not exceed ten percent (10%) of my liquid net worth. |
| ☐ Yes ☐ No |

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|:---|
| If I am a **Mississippi** resident, I must have either (a) a minimum liquid net worth of at least $70,000 and a minimum annual gross income of not less than $70,000, or (b) a minimum liquid net worth of $250,000. In addition, my investment in AB Private Lending Fund may not exceed 10% of my liquid net worth. |
| ☐ Yes ☐ No |
| If I am (we are) a **Missouri** resident, no more than ten percent (10%) of my (our) liquid net worth shall be invested in securities being registered in this offering. |
| ☐ Yes ☐ No |
| If I am a **Nebraska** resident, my aggregate investment in AB Private Lending Fund and the securities of other business development companies may not exceed 10% of my net worth. Investors who are accredited investors as defined in Regulation D are not subject to the foregoing investment concentration limit. |
| ☐ Yes ☐ No |
| If am a **New Jersey** resident, I have either (a) a minimum liquid net worth of at least $100,000 and a minimum annual gross income of not less than $85,000, or (b) a minimum liquid net worth of $350,000. For these purposes, "liquid net worth" is defined as that portion of net worth (total assets exclusive of home, home furnishings and automobiles, minus total liabilities) that consists of cash, cash equivalents and readily marketable securities. In addition, my investment in AB Private Lending Fund, its affiliates and other non-publicly-traded direct investment programs (including real estate investment trusts, business development companies, oil and gas programs, equipment leasing programs and commodity pools, but excluding unregistered, federally and state exempt private offerings) may not exceed ten percent (10%) of my liquid net worth. |
| ☐ Yes ☐ No |
| If I am a **New Mexico** resident and am not an "accredited investor" as defined by Rule 501(a) of Regulation D under the Securities Act, I may not invest more than 10% of my liquid net worth in AB Private Lending Fund, its affiliates and in other non-traded business development companies. Liquid net worth is defined as that portion of net worth which consists of cash, cash equivalents and readily marketable securities. |
| ☐ Yes ☐ No |
| If I am a **North Dakota** resident, I have a net worth of at least ten times my investment in AB Private Lending Fund. Investors who are accredited investors as defined in Regulation D under the Securities Act, are not subject to the foregoing investment concentration limit. |
| ☐ Yes ☐ No |
| If I am an **Ohio** resident, my investment in AB Private Lending Fund, its affiliates, and in any other non-traded BDC may not exceed 10% of my liquid net worth. "Liquid net worth" is defined as that portion of net worth (total assets exclusive of primary residence, home furnishings and automobiles, minus total liabilities) comprised of cash, cash equivalents and readily marketable securities. This condition does not apply, directly or indirectly, to federally covered securities. The foregoing investment concentration limit shall not apply to an Ohio purchaser who submits to the Ohio Securities Division a completed waiver request in the form prescribed by the Ohio Securities Division prior to purchase. The condition also does not apply to an Ohio purchaser who meets the definition of an accredited investor as defined in Rule 501(a) of Regulation D under the Securities Act. |
| ☐ Yes ☐ No |

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|:---|
| If I am an **Oklahoma** resident, my investment in AB Private Lending Fund may not exceed 10% of my liquid net worth. |
| ☐ Yes ☐ No |
| If I am an **Oregon** resident and am not an accredited investor, my investment in AB Private Lending Fund and its affiliates may not exceed 10% of my liquid net worth. Liquid net worth is defined as net worth excluding the value of the investor's home, home furnishings and automobile. Oregon investors who meet the definition of "accredited investor" as defined in Regulation D under the Securities Act are not subject to the limitation described in this paragraph. |
| ☐ Yes ☐ No |
| If I am a **Pennsylvania** resident, my investment in AB Private Lending Fund may not exceed 10% of my liquid net worth. |
| ☐ Yes ☐ No |
| If I am **Puerto Rico** resident, my investment in AB Private Lending Fund, its affiliates, and other non-traded business development companies, may not exceed 10% of my liquid net worth. For these purposes, "liquid net worth" is defined as that portion of net worth (total assets exclusive of primary residence, home furnishings and automobiles minus total liabilities) consisting of cash, cash equivalents and readily marketable securities. |
| ☐ Yes ☐ No |
| If I am a **Tennessee** resident, I have a liquid net worth of at least ten times my investment in AB Private Lending Fund. Investors who are accredited investors as defined in Regulation D under the Securities Act, are not subject to the foregoing investment concentration limit. |
| ☐ Yes ☐ No |
| If I am a **Vermont** resident and am not an "accredited investor" as defined in 17 C.F.R. § 230.501, my investment in this offering may not exceed 10% of my liquid net worth. For these purposes, "liquid net worth" is defined as an investor's total assets (not including home, home furnishings or automobiles) minus total liabilities. |
| ☐ Yes ☐ No |

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