# EDGAR Filing Document

**Accession Number:** 0001911066
**File Stem:** 0001628280-23-001042
**Filing Date:** 2023-1
**Character Count:** 82056
**Document Hash:** e8fcc0ba275e01d09ab23b50e42b1198
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-23-001042.hdr.sgml**: 20230113

**ACCESSION NUMBER**: 0001628280-23-001042

**CONFORMED SUBMISSION TYPE**: POS EX

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230113

**DATE AS OF CHANGE**: 20230113

**EFFECTIVENESS DATE**: 20230113

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Nuveen Churchill Private Capital Income Fund
- **CENTRAL INDEX KEY:** 0001911066
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** POS EX
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-262771
- **FILM NUMBER:** 23529096

**BUSINESS ADDRESS:**
- **STREET 1:** 430 PARK AVENUE
- **STREET 2:** 14TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** (212) 478-9200

**MAIL ADDRESS:**
- **STREET 1:** 430 PARK AVENUE
- **STREET 2:** 14TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

**As filed with the Securities and Exchange Commission on January 13, 2023**

**Securities Act File No. 333-262771**

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549**

**FORM N-2**

**REGISTRATION STATEMENT** 

***UNDER***

***THE SECURITIES ACT OF 1933***

---

| | |
|:---|:---|
| **Pre-Effective Amendment No.** | ☐ |
| **Post-Effective Amendment No. 2** | ☒ |

---

**Nuveen Churchill Private Capital Income Fund** 

**(Exact name of registrant as specified in charter)** 

**430 Park Avenue, 14th Floor**

**New York, NY 10022**

**(212) 478-9200** 

**(Address and telephone number, including area code, of principal executive offices)**

**John McCally**

**General Counsel**

**Churchill Asset Management LLC**

**8500 Andrew Carnegie Blvd**

**Charlotte, NC 28262** 

**(Name and address of agent for service)** 

***COPIES TO:***

**Steven B. Boehm, Esq.**

**Payam Siadatpour, Esq.**

**Owen J. Pinkerton, Esq.**

**Eversheds Sutherland (US) LLP**

**700 6th Street, N.W.**

**Washington, DC 20001**

**Approximate Date of Proposed Public Offering:** From time to time after the effective date of this Registration Statement.

☐ Check box if the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans.

------

☒ Check box if any securities being registered on this Form will be offered on a delayed or continuous basis in reliance on Rule 415 under the Securities Act of 1933 ("Securities Act"), other than securities offered in connection with a dividend reinvestment plan.

☐ Check box if this Form is a registration statement pursuant to General Instruction A.2 or a post-effective amendment thereto.

☐ Check box if this Form is a registration statement pursuant to General Instruction B or a post-effective amendment thereto that will become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act.

☐ Check box if this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction B to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act.

**It is proposed that this filing will become effective (check appropriate box):**

☐ when declared effective pursuant to Section 8(c) of the Securities Act.

**If appropriate, check the following box:**

☐ This [post-effective] amendment designates a new effective date for a previously filed [post-effective amendment] [registration statement].

☐ This Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, and the Securities Act registration statement number of the earlier effective registration statement for the same offering is: .

☐ This Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, and the Securities Act registration statement number of the earlier effective registration statement for the same offering is: .

☒ This Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, and the Securities Act registration statement number of the earlier effective registration statement for the same offering is: 333-262771.

**Check each box that appropriately characterizes the Registrant:**

☐ Registered Closed-End Fund (closed-end company that is registered under the Investment Company Act of 1940 ("Investment Company Act")).

☒ Business Development Company (closed-end company that intends or has elected to be regulated as a business development company under the Investment Company Act).

☐ Interval Fund (Registered Closed-End Fund or a Business Development Company that makes periodic repurchase offers under Rule 23c-3 under the Investment Company Act).

☐ A.2 Qualified (qualified to register securities pursuant to General Instruction A.2 of this Form).

☐ Well-Known Seasoned Issuer (as defined by Rule 405 under the Securities Act).

☒ Emerging Growth Company (as defined by Rule 12b-2 under the Securities Exchange Act of 1934 ("Exchange Act").

☐ If an Emerging Growth Company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of Securities Act.

☒ New Registrant (registered or regulated under the Investment Company Act for less than 12 calendar months preceding this filing).

------

**EXPLANATORY NOTE** 

This Post-Effective Amendment No. 2 to the Registration Statement on Form N-2 (File No. 333-262771) of Nuveen Churchill Private Capital Income Fund (the "Registration Statement") is being filed pursuant to Rule 462(d) under the Securities Act of 1933, as amended (the "Securities Act"), solely for the purpose of filing exhibits to the Registration Statement. Accordingly, this Post-Effective Amendment No. 2 consists only of a facing page, this explanatory note and Part C of the Registration Statement on Form N-2 setting forth the exhibits to the Registration Statement. This Post-Effective Amendment No. 2 does not modify any other part of the Registration Statement. Pursuant to Rule 462(d) under the Securities Act, this Post-Effective Amendment No. 2 shall become effective immediately upon filing with the Securities and Exchange Commission. The contents of the Registration Statement are hereby incorporated by reference.

------

**PART C** 

**Other Information** 

**Item 25.&nbsp;&nbsp;&nbsp;&nbsp; Financial Statements And Exhibits**

*(1) Financial Statements*

The following financial statements of Nuveen Churchill Private Capital Income Fund are included in Part A of this Registration Statement.

---

| | |
|:---|:---|
| | **Page** |
| Report of Independent Registered Public Accounting Firm | F-2 |
| Consolidated Statement of Assets and Liabilities as of March 31, 2022 | F-3 |
| Consolidated Statement of Operations for the Period from February 8, 2022 (inception) through March 31, 2022 | F-4 |
| Consolidated Statement of Changes in Net Assets for the Period from February 8, 2022 (inception) through March 31, 2022 | F-5 |
| Consolidated Statement of Cash Flows for the Period from February 8, 2022 (inception) through March 31, 2022 | F-6 |
| Consolidated Schedule of Investments as of March 31, 2022 | F-7 |
| Notes to Consolidated Financial Statements | F-11 |

---

------

*(2) Exhibits* 

---

| | |
|:---|:---|
| (a) | <u>[Fourth Amended and Restated Declaration of Trust of the Registrant](https://www.sec.gov/Archives/edgar/data/1911066/000162828023001021/pcap-ex31x4ardeclarationof.htm)</u><u>[(5)](https://www.sec.gov/Archives/edgar/data/1911066/000162828023001021/pcap-ex31x4ardeclarationof.htm)</u> |
| (b) | <u>[Amended and Restated Bylaws of the Registrant](https://www.sec.gov/Archives/edgar/data/1911066/000162828023001021/pcap-ex32xamendedandrestat.htm)</u><u>[(5)](https://www.sec.gov/Archives/edgar/data/1911066/000162828023001021/pcap-ex32xamendedandrestat.htm)</u> |
| (d) | <u>[Form of Subscription Agreement \*](pcap-formofsubscriptionagr.htm)</u> |
| (e) | <u>[Distribution Reinvestment Plan](https://www.sec.gov/Archives/edgar/data/1911066/000162828022016263/exhibite-formnx2a.htm)(2)</u> |
| (g)(1) | <u>[Investment Advisory Agreement between Nuveen Churchill Private Capital Income Fund and Churchill Asset Management LLC](https://www.sec.gov/Archives/edgar/data/1911066/000162828022016263/exhibitg-formnx2a.htm)(2)</u> |
| (g)(2) | <u>[Amendment No. 1, dated as of August 3, 2022, to the Investment Advisory Agreement between Nuveen Churchill Private Capital Income Fund and Churchill Asset Management LLC](https://www.sec.gov/Archives/edgar/data/0001911066/000162828022021574/pcap-ex101xfirstamendmentt.htm)(4)</u> |
| (g)(3) | <u>[Amendment No. 2, dated as of January 10, 2023, to the Investment Advisory Agreement between Nuveen Churchill Private Capital Income Fund and Churchill Asset Management LLC](https://www.sec.gov/Archives/edgar/data/1911066/000162828023001021/pcap-ex101xamendmentno2toi.htm)</u><u>[(5)](https://www.sec.gov/Archives/edgar/data/1911066/000162828023001021/pcap-ex101xamendmentno2toi.htm)</u> |
| (g)(4) | <u>[Investment Sub-Advisory Agreement by and between Churchill Asset Management LLC and Nuveen Asset Management, LLC](https://www.sec.gov/Archives/edgar/data/1911066/000162828022016263/exhibitg2-formnx2a.htm)</u><u>(2)</u> |
| (g)(5) | <u>[Amendment No. 1, dated as of August 3, 2022, to the Investment Sub-Advisory Agreement between Churchill Asset Management LLC and Nuveen Asset Management, LLC](https://www.sec.gov/Archives/edgar/data/0001911066/000162828022021574/pcap-ex102xfirstamendmentt.htm)</u><u>(4)</u> |
| (h)(1) | <u>[Intermediary Manager Agreement by and between Nuveen Churchill Private Capital Income Fund and Nuveen Securities, LLC](https://www.sec.gov/Archives/edgar/data/0001911066/000162828022018754/exhibith1-formnx2a2.htm)</u><u>[(3)](https://www.sec.gov/Archives/edgar/data/0001911066/000162828022018754/exhibith1-formnx2a2.htm)</u> |
| (h)(2) | <u>[Form of Participating Dealer Agreement (included as Exhibit A to the Intermediary Manager Agreement attached hereto as Exhibit (h)(1))](https://www.sec.gov/Archives/edgar/data/0001911066/000162828022018754/exhibith1-formnx2a2.htm)</u><u>[(3)](https://www.sec.gov/Archives/edgar/data/0001911066/000162828022018754/exhibith1-formnx2a2.htm)</u> |
| (h)(3) | <u>[Distribution and Shareholder Servicing Plan of the Registrant](https://www.sec.gov/Archives/edgar/data/1911066/000162828022016263/exhibith3-formnx2a.htm)</u><u>[(2)](https://www.sec.gov/Archives/edgar/data/1911066/000162828022016263/exhibith3-formnx2a.htm)</u> |
| (j) | <u>[Custody Agreement by and between Nuveen Churchill Private Capital Income Fund and U.S. Bank Trust Company, National Association](https://www.sec.gov/Archives/edgar/data/1911066/000162828022016263/exhibitj-formnx2a.htm)</u><u>[(2)](https://www.sec.gov/Archives/edgar/data/1911066/000162828022016263/exhibitj-formnx2a.htm)</u> |
| (k)(1) | <u>[Administration Agreement between Nuveen Churchill Private Capital Income Fund and Nuveen Churchill Administration LLC](https://www.sec.gov/Archives/edgar/data/1911066/000162828022016263/exhibitk1-formnx2a.htm)</u><u>[(2)](https://www.sec.gov/Archives/edgar/data/1911066/000162828022016263/exhibitk1-formnx2a.htm)</u> |
| (k)(2) | <u>[Amendment No. 1, dated as of January 10, 2023, to the Administration Agreement between Nuveen Churchill Private Capital Income Fund and Nuveen Churchill Administration LLC](https://www.sec.gov/Archives/edgar/data/1911066/000162828023001021/pcap-ex102xamendmentno1toa.htm)</u><u>[(5)](https://www.sec.gov/Archives/edgar/data/1911066/000162828023001021/pcap-ex102xamendmentno1toa.htm)</u> |
| (k)(3) | <u>[Form of Escrow Agreement](https://www.sec.gov/Archives/edgar/data/0001911066/000162828022018754/exhibitk2-formnx2a2.htm)[(3)](https://www.sec.gov/Archives/edgar/data/0001911066/000162828022018754/exhibitk2-formnx2a2.htm)</u> |
| (k)(4) | <u>[Services Agreement between Nuveen Churchill Private Capital Income Fund and DST Systems, Inc.](https://www.sec.gov/Archives/edgar/data/1911066/000162828022016263/exhibitk3-formnx2a.htm)</u><u>[(2)](https://www.sec.gov/Archives/edgar/data/1911066/000162828022016263/exhibitk3-formnx2a.htm)</u> |
| (k)(5) | <u>[Multi-Class Plan](https://www.sec.gov/Archives/edgar/data/1911066/000162828022016263/exhibitk4-formnx2a.htm)</u><u>[(2)](https://www.sec.gov/Archives/edgar/data/1911066/000162828022016263/exhibitk4-formnx2a.htm)</u> |
| (k)(6) | <u>[Expense Support and Conditional Reimbursement Agreement by and between Nuveen Churchill Private Capital Income Fund and Churchill Asset Management LLC](https://www.sec.gov/Archives/edgar/data/1911066/000162828022016263/exhibitk5-formnx2a.htm)</u><u>[(2)](https://www.sec.gov/Archives/edgar/data/1911066/000162828022016263/exhibitk5-formnx2a.htm)</u> |
| (k)(7) | <u>[Credit Agreement, dated April 19, 2022, among NCPIF SPV I LLC, as borrower, the lenders party thereto, Bank of America, N.A., as administrative agent, Nuveen Churchill Private Capital Income Fund, as servicer, U.S. Bank Trust Company, National Association, as collateral administrator, U.S. Bank National Association, as a collateral custodian, and Bank of America, N.A., as sole lead arranger and sole book manager](https://www.sec.gov/Archives/edgar/data/1911066/000162828022016263/exhibitk6-formnx2a.htm)</u><u>[(2)](https://www.sec.gov/Archives/edgar/data/1911066/000162828022016263/exhibitk6-formnx2a.htm)</u> |
| (l) | <u>[Opinion of Richards, Layton & Finger, P.A.](https://www.sec.gov/Archives/edgar/data/1911066/000162828022016263/exhibitk6-formnx2a.htm)</u><u>[(2)](https://www.sec.gov/Archives/edgar/data/1911066/000162828022016263/exhibitk6-formnx2a.htm)</u> |
| (n) | <u>[Consent of Independent Registered Public Accounting Firm](https://www.sec.gov/Archives/edgar/data/0001911066/000162828022018754/exhibitn-formnx2a2.htm)</u><u>[(3)](https://www.sec.gov/Archives/edgar/data/0001911066/000162828022018754/exhibitn-formnx2a2.htm)</u> |
| (r)(1) | <u>[Code of Ethics of the Fund](https://www.sec.gov/Archives/edgar/data/0001911066/000162828022018754/exhibitr1-formnx2a2.htm)</u><u>[(3)](https://www.sec.gov/Archives/edgar/data/0001911066/000162828022018754/exhibitr1-formnx2a2.htm)</u> |
| (r)(2) | <u>[Code of Ethics of the Adviser](https://www.sec.gov/Archives/edgar/data/0001911066/000162828022018754/exhibitr2-formnx2a2.htm)</u><u>[(3)](https://www.sec.gov/Archives/edgar/data/0001911066/000162828022018754/exhibitr2-formnx2a2.htm)</u> |
| (s) | <u>[Calculation of Filing Fee Table](https://www.sec.gov/Archives/edgar/data/1911066/000162828022002811/exhibits-nx2.htm)</u><u>[(1)](https://www.sec.gov/Archives/edgar/data/1911066/000162828022002811/exhibits-nx2.htm)</u> |

---

------

(t) <u>[Power of Attorney](https://www.sec.gov/Archives/edgar/data/1911066/000162828022016263/ncpif-formnx2a.htm#id95dc2f54555420b85fa6845f70e9ca0_554)</u><u>[(2)](https://www.sec.gov/Archives/edgar/data/1911066/000162828022016263/ncpif-formnx2a.htm#id95dc2f54555420b85fa6845f70e9ca0_554)</u>

 <br> \* Filed herewith.

(1)&nbsp;&nbsp;&nbsp;&nbsp;Incorporated by reference to the Registrant's Registration Statement on Form N-2 (File No. 333-262771) filed on February 14, 2022.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(2)&nbsp;&nbsp;&nbsp;&nbsp;Incorporated by reference to the Registrant's Pre-Effective Amendment No. 1 to the Registration Statement on Form N-2 (File No. 333-262771) filed on June 3, 2022.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(3)&nbsp;&nbsp;&nbsp;&nbsp;Incorporated by reference to the Registrant's Pre-Effective Amendment No. 2 to the Registration Statement on Form N-2 (File No. 333-262771) filed on July 8, 2022. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(4)&nbsp;&nbsp;&nbsp;&nbsp;Incorporated by reference to the Registrant's Quarterly Report on Form 10-Q (File No. 814-01494) filed on August 8, 2022.

(5)&nbsp;&nbsp;&nbsp;&nbsp;Incorporated by reference to the Registrant's Current Report on Form 8-K (File No. 814-01494) filed on January 13, 2023.

**Item 26.&nbsp;&nbsp;&nbsp;&nbsp; Marketing Arrangements**

The information contained under the heading "Plan of Distribution" in this Registration Statement is incorporated herein by reference.

**Item 27.&nbsp;&nbsp;&nbsp;&nbsp; Other Expenses Of Issuance And Distribution** 

---

| | | |
|:---|:---|:---|
| SEC registration fee | $231750 |  |
| FINRA filing fee | $225500 |  |
| Legal | $1300000 | \* |
| Printing | $620000 | \* |
| Accounting | $1000000 | \* |
| Blue Sky Expenses | $150000 | \* |
| Advertising and sales literature | $1000000 | \* |
| Due Diligence | $3750000 | \* |
| Miscellaneous fees and expenses | $8195000 | \* |
| Total | $16472250 | \* |

---

__________________

\*Amounts are estimates.

**Item 28.&nbsp;&nbsp;&nbsp;&nbsp; Persons Controlled By Or Under Common Control**

Immediately prior to this offering, TIAA will own 100% of the outstanding common shares of the Registrant. Following the completion of this offering, TIAA's share ownership is expected to represent less than 1% of the Registrant's outstanding common shares. See "Control Persons and Principal Shareholders" in the Prospectus contained herein.

**Item 29.&nbsp;&nbsp;&nbsp;&nbsp; Number Of Holders Of Securities**

The following table sets forth the number of record holders of the Registrant's common shares at July 8, 2022.

---

| | |
|:---|:---|
| **Title of Class** | **Number<br>of<br>Record<br>Holders** |
| Class S shares of beneficial interest, $0.01 par value | - |
| Class D shares of beneficial interest, $0.01 par value | - |
| Class I shares of beneficial interest, $0.01 par value | 1 |

---

**Item 30. Indemnification**

The information contained under the heading "Description of our Common Shares." "Advisory Agreement and Other Agreements" and "Plan of Distribution-Indemnification" in this Registration Statement is incorporated herein by reference.

------

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to Trustees, officers and controlling persons of the Registrant pursuant to the provisions described above, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a Trustee, officer or controlling person in the successful defense of an action suit or proceeding) is asserted by a Trustee, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is again public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

Prior to breaking escrow, the Registrant expects to obtain liability insurance for the benefit of its Trustees and officers (other than with respect to claims resulting from the willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his or her office) on a claims-made basis.

**Item 31.&nbsp;&nbsp;&nbsp;&nbsp; Business and Other Connections of Adviser**

A description of any other business, profession, vocation or employment of a substantial nature in which Churchill Asset Management LLC, and each managing director, director or executive officer of Churchill Asset Management LLC, is or has been, during the past two fiscal years, engaged in for his or her own account or in the capacity of director, officer, employee, partner or trustee, is set forth in Part A of this Registration Statement in the section entitled "Management of the Fund." Additional information regarding Churchill Asset Management LLC and its officers and managing member is set forth in its Form ADV, as filed with the Securities and Exchange Commission (SEC File No. 801-81144), and is incorporated herein by reference.

**Item 32.&nbsp;&nbsp;&nbsp;&nbsp;Location of Accounts and Records**

All accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, and the rules thereunder are maintained at the offices of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the Registrant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the transfer agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) the Custodian;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) the Adviser; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) the Administrator.

**Item 33.&nbsp;&nbsp;&nbsp;&nbsp;Management Services**

Not Applicable.

**Item 34.&nbsp;&nbsp;&nbsp;&nbsp;Undertakings**

We hereby undertake:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) to suspend the offering of shares until the prospectus is amended if (i) subsequent to the effective date of this registration statement, our net asset value declines more than ten percent from our net asset value as of the effective date of this registration statement, or (ii) our net asset value increases to an amount greater than our net proceeds as stated in the prospectus:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) to file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) to include any prospectus required by Section 10(a)(3) of the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) to reflect in the prospectus any facts or events after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no

------

more than 20% change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) that, for the purpose of determining any liability under the Securities Act, each such post-effective amendment will be deemed to be a new registration statement relating to the securities offered therein, and the offering of those securities at that time will be deemed to be the initial bona fide offering thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) to remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) that, for the purpose of determining liability under the Securities Act to any purchaser, if the Registrant is subject to Rule 430C [17 CFR 230.430C]: each prospectus filed pursuant to Rule 424(b) under the Securities Act as part of a registration statement relating to an offering, other than registration statements relying on 430B or other than prospectuses filed in reliance on Rule 430A shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. *Provided, however*, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) that for the purpose of determining liability of the Registrant under the Securities Act to any purchaser in the initial distribution of securities, the undersigned Registrant undertakes that in a primary offering of securities of the undersigned Registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned Registrant will be a seller to the purchaser and will be considered to offer or sell such securities to the purchaser:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any preliminary prospectus or prospectus of the undersigned Registrant relating to the offering required to be filed pursuant to Rule 424 under the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) free writing prospectus relating to the offering prepared by or on behalf of the undersigned Registrant or used or referred to by the undersigned Registrant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the portion of any other free writing prospectus or advertisement pursuant to Rule 482 under the Securities Act [17 CFR 230.482] relating to the offering containing material information about the undersigned Registrant or its securities provided by or on behalf of the undersigned Registrant; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) any other communication that is an offer in the offering made by the undersigned Registrant to the purchaser.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) that, for the purpose of determining any liability under the Securities Act:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the information omitted from the form of prospectus filed as part of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the Registrant under Rule 424(b)(1) under the Securities Act shall be deemed to be part of this registration statement as of the time it was declared effective; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) each post-effective amendment that contains a form of prospectus shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of the securities at that time shall be deemed to be the initial bona fide offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) to send by first class mail or other means designed to ensure equally prompt delivery, within two business days of receipt of a written or oral request, any prospectus or Statement of Additional Information.

------

**SIGNATURES** 

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant has caused this Registration Statement on Form N-2 to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York on the 13th day of January, 2023.

---

| | |
|:---|:---|
| **NUVEEN CHURCHILL PRIVATE CAPITAL INCOME FUND** | **NUVEEN CHURCHILL PRIVATE CAPITAL INCOME FUND** |
| By: | /s/ Kenneth Kencel |
| Name: | Kenneth Kencel |
| Title: | Chief Executive Officer, President, Trustee and Chairman |

---

---

| | |
|:---|:---|
| **Signature** | **Title** |
| /s/ Kenneth Kencel | Chief Executive Officer, President, Trustee and Chairman |
| Kenneth Kencel | |
| /s/ Shaul Vichness | Chief Financial Officer and Treasurer |
| Shaul Vichness | |
| \* | Trustee |
| William Huffman | |
| \* | Trustee |
| Deann Morgan | |
| \* | Trustee |
| Stephen Potter | |
| \* | Trustee |
| James Ritchie | |
| \* | Trustee |
| Dee Dee Sklar | |
| \* | Trustee |
| Sarah Smith | |

---

\* Signed by Shaul Vichness pursuant to a power of attorney signed by each individual and filed with this Registration Statement on June 3, 2022.

## Ex-1

***Exhibit (d)***

**APPENDIX A: FORM OF SUBSCRIPTION AGREEMENT**

***NOT FOR EXECUTION***

**Subscription Agreement for Shares of**

**Nuveen Churchill Private Capital Income Fund**

**1.** **Your Investment**

**A.&nbsp;&nbsp;&nbsp;&nbsp;Investment Information**

Investment Amount $

**B.&nbsp;&nbsp;&nbsp;&nbsp;Investment Method**

☐&nbsp;&nbsp;&nbsp;&nbsp;By mail: Please make checks payable to NUVEEN CHURCHILL PRIVATE CAPITAL INCOME FUND / UMB Bank, N.A. - ESCROW ACCOUNT and attach to this agreement.\*

☐&nbsp;&nbsp;&nbsp;&nbsp;By wire: Please wire funds according to the instructions below.

Name: NUVEEN CHURCHILL PRIVATE CAPITAL INCOME FUND / UMB BANK, N.A. - ESCROW ACCOUNT

Bank Name: UMB Bank, N.A.

ABA: [ ]

DDA: [ ]

☐&nbsp;&nbsp;&nbsp;&nbsp;Broker / Financial advisor will make payment on your behalf

\* *Cash, cashier's checks/official bank checks, temporary checks, foreign checks, money orders, third party checks, or travelers' checks are not accepted.*

**C.&nbsp;&nbsp;&nbsp;&nbsp;Share Class Selection**

**☐&nbsp;&nbsp;&nbsp;&nbsp; Class S Share&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ☐&nbsp;&nbsp;&nbsp;&nbsp; Class D Share \*\*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ☐&nbsp;&nbsp;&nbsp;&nbsp; Class I Share \*\***

(Minimum investment is $2,500) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Minimum investment is $2,500)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;(Minimum investment is $1,000,000, unless waived)

\*\* *Available for certain fee-based wrap accounts and other eligible investors as disclosed in the prospectus, as amended and supplemented.* 

**2.** **Ownership Type (Select only one)**

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A. Taxable Accounts**<br>Brokerage Account Number<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Individual or Joint Tenant With Rights of Survivorship<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Transfer on Death (*Optional Designation.* <br>*Not Available for Louisiana Residents. See Section 3C.*)<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Tenants in Common<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Community Property<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Uniform Gift/Transfer to Minors<br>State of<br>Date of Birth<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Trust (*Include Certification of Investment Powers Form or 1st and Last page of Trust Documents*)<br>☐&nbsp;&nbsp;&nbsp;&nbsp;C Corporation<br>☐&nbsp;&nbsp;&nbsp;&nbsp;S Corporation<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Profit-Sharing Plan<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Non-Profit Organization<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Limited Liability Corporation<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Corporation / Partnership / Other (Corporate Resolution or Partnership Agreement Required) | **B. Non-Taxable Accounts**<br>Custodian Account Number<br>☐&nbsp;&nbsp;&nbsp;&nbsp;IRA (Custodian Signature Required)<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Roth IRA (Custodian Signature Required)<br>☐&nbsp;&nbsp;&nbsp;&nbsp;SEP IRA (Custodian Signature Required)<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Rollover IRA (Custodian Signature Required)<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Beneficial IRA<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Pension Plan (*Include Certification of Investment Powers Form*)<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Other |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A. Taxable Accounts**<br>Brokerage Account Number<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Individual or Joint Tenant With Rights of Survivorship<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Transfer on Death (*Optional Designation.* <br>*Not Available for Louisiana Residents. See Section 3C.*)<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Tenants in Common<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Community Property<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Uniform Gift/Transfer to Minors<br>State of<br>Date of Birth<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Trust (*Include Certification of Investment Powers Form or 1st and Last page of Trust Documents*)<br>☐&nbsp;&nbsp;&nbsp;&nbsp;C Corporation<br>☐&nbsp;&nbsp;&nbsp;&nbsp;S Corporation<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Profit-Sharing Plan<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Non-Profit Organization<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Limited Liability Corporation<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Corporation / Partnership / Other (Corporate Resolution or Partnership Agreement Required) | **C. Custodian Information (*To Be Completed By Custodian*)**<br>Custodian Name <br>Custodian Tax ID #<br>Custodian Phone # |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A. Taxable Accounts**<br>Brokerage Account Number<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Individual or Joint Tenant With Rights of Survivorship<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Transfer on Death (*Optional Designation.* <br>*Not Available for Louisiana Residents. See Section 3C.*)<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Tenants in Common<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Community Property<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Uniform Gift/Transfer to Minors<br>State of<br>Date of Birth<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Trust (*Include Certification of Investment Powers Form or 1st and Last page of Trust Documents*)<br>☐&nbsp;&nbsp;&nbsp;&nbsp;C Corporation<br>☐&nbsp;&nbsp;&nbsp;&nbsp;S Corporation<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Profit-Sharing Plan<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Non-Profit Organization<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Limited Liability Corporation<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Corporation / Partnership / Other (Corporate Resolution or Partnership Agreement Required) | *Custodian Stamp Here* |

---

**D.&nbsp;&nbsp;&nbsp;&nbsp; Entity Name – Retirement Plan / Trust / Corporation / Partnership / Other**

Trustee(s) and/or authorized signatory(s) information MUST be provided in Sections 3A and 3B

 <br> Entity Name Tax ID Number Date of Formation Exemptions

(See Form W-9 instructions at www.irs.gov)

Entity Address (*Legal Address.* ***Required***)

Entity Type (*Select one.* ***Required***)

---

| | | |
|:---|:---|:---|
| ☐ Retirement Plan ☐ Trust ☐ S-Corp | ☐ C-Corp ☐ LLC ☐ Partnership | Exempt payee code (if any) |
| ☐ Other | Jurisdiction (if Non-U.S.) | |
| | *(Attach a completed applicable Form W-8)* | *(Attach a completed applicable Form W-8)* |

---

Exemption from FATCA reporting code (if any):

**3.** **Investor Information**

**A. Investor Name (Investor / Trustee / Executor / Authorized Signatory Information)**

*Residential street address MUST be provided. See Section 4 if mailing address is different than residential street address*

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| First Name &nbsp;&nbsp;&nbsp;&nbsp;(MI) | Last Name | Last Name | Last Name | Last Name | Gender | Gender |
| Social Security Number / Tax ID | Date of Birth (MM/DD/YYYY) | Date of Birth (MM/DD/YYYY) | Daytime Phone Number | Daytime Phone Number | Daytime Phone Number | Daytime Phone Number |
| Residential Street Address | Residential Street Address | City | City | State | State | Zip Code |
| Email Address | Email Address | | | | | |

---

If you are a non-U.S. citizen, please specify your country of citizenship (***required***):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;☐ Resident Alien&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;☐ Non-Resident Alien (*Attach a completed Form W-8BEN, Rev. J*)

Country of Citizenship

Please specify if you are a Churchill Asset Management LLC ("Churchill"), Nuveen, LLC ("Nuveen"), Teachers Insurance and Annuity Association of America ("TIAA") employee/officer/director/affiliate (required):

☐ Employee of Churchill, Nuveen, or TIAA

☐ Officer or Director of Churchill, Nuveen, or TIAA

☐ Immediate Family Member of Officer or Director of Churchill, Nuveen, or TIAA

☐ Affiliate of Churchill, Nuveen, or TIAA

☐ Not Applicable

**B. Co-Investor Name (Co-Investor / Co-Trustee / Co-Authorized Signatory Information, if applicable)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| First Name &nbsp;&nbsp;&nbsp;&nbsp;(MI) | Last Name | Last Name | Last Name | Last Name | Gender | Gender |
| Social Security Number / Tax ID | Date of Birth (MM/DD/YYYY) | Date of Birth (MM/DD/YYYY) | Daytime Phone Number | Daytime Phone Number | Daytime Phone Number | Daytime Phone Number |
| Residential Street Address | Residential Street Address | City | City | State | State | Zip Code |
| Email Address | Email Address | | | | | |

---

*If you are a non-U.S. citizen, please specify your country of citizenship (required):*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;☐ Resident Alien&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;☐ Non-Resident Alien (Attach a completed Form W-8BEN, Rev. J)

Country of Citizenship

Please specify if you are a Churchill, Nuveen or TIAA employee/officer/director/affiliate (required):

☐ Employee of Churchill, Nuveen, or TIAA

☐ Officer or Director of Churchill, Nuveen, or TIAA

☐ Immediate Family Member of Officer or Director of Churchill, Nuveen, or TIAA

☐ Affiliate of Churchill, Nuveen, or TIAA

☐ Not Applicable

------

**C. &nbsp;&nbsp;&nbsp;&nbsp;Transfer on Death Beneficiary Information (Individual or Joint Account with rights of survivorship only. Not available for Louisiana residents. Beneficiary date of birth required. Whole percentages only; must equal 100%.)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| First Name | (MI) | Last Name | SSN | Date of Birth | ☐ | Primary |
|  |  |  |  | (MM/DD/YYYY) | ☐ | Secondary % |
| First Name | (MI) | Last Name | SSN | Date of Birth | ☐ | Primary |
|  |  |  |  | (MM/DD/YYYY) | ☐ | Secondary % |
| First Name | (MI) | Last Name | SSN | Date of Birth | ☐ | Primary |
|  |  |  |  | (MM/DD/YYYY) | ☐ | Secondary % |
| First Name | (MI) | Last Name | SSN | Date of Birth | ☐ | Primary |
|  |  |  |  | (MM/DD/YYYY) | ☐ | Secondary % |

---

Custodian/Guardian for a minor Beneficiary (required, cannot be same as Investor or Co-Investor):

**D. ERISA Plan Asset Regulations**

All investors are required to complete Appendix B attached hereto.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **4.** | **Contact Information (If different than provided in Section 3A)** | **Contact Information (If different than provided in Section 3A)** | **Contact Information (If different than provided in Section 3A)** | **Contact Information (If different than provided in Section 3A)** |
| Mailing Address | Mailing Address | City | State | Zip Code |

---

**5.** **Select How You Want to Receive Your Distributions (Please Read Entire Section and Select only one)**

**You are automatically enrolled in our Distribution Reinvestment Plan, unless you are a resident of ALABAMA, ARKANSAS, IDAHO, KANSAS, KENTUCKY, MAINE, MARYLAND, MASSACHUSETTS, NEBRASKA, NEW JERSEY, NORTH CAROLINA, OHIO, OREGON, VERMONT OR WASHINGTON.**

---

| | |
|:---|:---|
| | If you <u>ARE</u> a resident of Alabama, Arkansas, Idaho, Kansas, Kentucky, Maine, Maryland, Massachusetts, Nebraska, New Jersey, North Carolina, Ohio, Oregon, Vermont or Washington, you are not automatically enrolled in the Distribution Reinvestment Plan. Please check here if you wish to enroll in the Distribution Reinvestment Plan. You will automatically receive cash distributions unless you elect to enroll in the Distribution Reinvestment Plan. |
| *Initials* | If you <u>ARE</u> a resident of Alabama, Arkansas, Idaho, Kansas, Kentucky, Maine, Maryland, Massachusetts, Nebraska, New Jersey, North Carolina, Ohio, Oregon, Vermont or Washington, you are not automatically enrolled in the Distribution Reinvestment Plan. Please check here if you wish to enroll in the Distribution Reinvestment Plan. You will automatically receive cash distributions unless you elect to enroll in the Distribution Reinvestment Plan. |
| | If you <u>ARE NOT</u> a resident of the states listed above, you are automatically enrolled in the Distribution Reinvestment Plan. Please check here if you do not wish to be enrolled in the Distribution Reinvestment Plan and complete the Cash Distribution Information section below.  |
| *Initials* | If you <u>ARE NOT</u> a resident of the states listed above, you are automatically enrolled in the Distribution Reinvestment Plan. Please check here if you do not wish to be enrolled in the Distribution Reinvestment Plan and complete the Cash Distribution Information section below.  |

---

**<u>ONLY complete the following information if you do not wish to enroll in the Distribution Reinvestment Plan.</u>** For custodial held accounts, if you elect cash distributions the funds must be sent to the custodian.

**A. ☐ Check mailed to street address in 3A** (only available for non-custodial investors).

**B. ☐ Check mailed to secondary address in 3B** (only available for non-custodial investors).

**C. ☐ Direct Deposit by ACH (**only available for non-custodial investors). **PLEASE ATTACH A PRE-VOIDED CHECK**

**D. ☐ Check mailed to Third party Financial Institution** (complete section below)

***I authorize Nuveen Churchill Private Capital Income Fund or its agent to deposit my distribution into my checking or savings account. This authority will remain in force until I notify Nuveen Churchill Private Capital Income Fund in writing to cancel it. In the event that Nuveen Churchill Private Capital Income Fund deposits funds erroneously into my account, they are authorized to debit my account for an amount not to exceed the amount of the erroneous deposit.***

---

| | | | |
|:---|:---|:---|:---|
| Financial Institution Name | Mailing Address / City | State | Zip Code |
| Your Bank's ABA Routing Number | Your Bank Account Number | Your Bank Account Number | Your Bank Account Number |

---

------

**6.** **Broker / Financial Advisor Information (Required Information. All fields must be completed.)**

The Financial Advisor must sign below to complete the order. The Financial Advisor hereby warrants that he/she is duly licensed and may lawfully sell shares in the state designated as the investor's legal residence.

---

| | | | |
|:---|:---|:---|:---|
| Broker | | Financial Advisor Name | Financial Advisor Name |
| Advisor Mailing Address | | | |
| City | State | | Zip Code |
| Financial Advisor Number | Branch Number | Branch Number | Telephone # |
| E-mail Address | | Fax Number | |
| Operations Contact Name | | Operations Contact Email Address | Operations Contact Email Address |

---

Please note that unless previously agreed to in writing by Nuveen Churchill Private Capital Income Fund, all sales of securities must be made through a Broker, including when an RIA has introduced the sale. In all cases, Section 6 must be completed.

The undersigned confirm(s), which confirmation is made on behalf of the Broker with respect to sales of securities made through a Broker, that they (i) have reasonable grounds to believe that the information and representations concerning the investor identified herein are true, correct and complete in all respects; (ii) have discussed such investor's prospective purchase of shares with such investor; (iii) have advised such investor of all pertinent facts with regard to the lack of liquidity and marketability of the shares; (iv) have delivered or made available a current prospectus and related supplements, if any, to such investor; (v) have reasonable grounds to believe that the investor is purchasing these shares for his or her own account; (vi) have reasonable grounds to believe that the purchase of shares is a suitable investment for such investor, that such investor meets the suitability standards applicable to such investor set forth in the prospectus and related supplements, if any, and that such investor is in a financial position to enable such investor to realize the benefits of such an investment and to suffer any loss that may occur with respect thereto; and (vii) have advised such investor that the shares have not been registered and are not expected to be registered under the laws of any country or jurisdiction outside of the United States except as otherwise described in the prospectus. The undersigned Broker, Financial Advisor or Financial Representative listed in Section 6 further represents and certifies that, in connection with this subscription for shares, he/she has complied with and has followed all applicable policies and procedures of his or her firm relating to, and performed functions required by, federal and state securities laws, rules promulgated under the Securities Exchange Act of 1934, as amended, including, but not limited to Rule 151-1 ("Regulation Best Interest") and FINRA rules and regulations including, but not limited to Know Your Customer, Suitability and PATRIOT Act (Anti Money Laundering, Customer Identification) as required by its relationship with the investor(s) identified on this document.

THIS SUBSCRIPTION AGREEMENT AND ALL RIGHTS HEREUNDER SHALL BE GOVERNED BY, AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE.

If you do not have another broker-dealer or other financial intermediary introducing you to Nuveen Churchill Private Capital Income Fund, then Nuveen Securities, LLC, the intermediary manager for this offering ("Nuveen Securities"), may be deemed to act as your broker of record in connection with any investment in Nuveen Churchill Private Capital Income Fund. Nuveen Securities is not a full-service broker-dealer and may not provide the kinds of financial services that you might expect from another financial intermediary, such as holding securities in an account. If Nuveen Securities is your broker-dealer of record, then your shares will be held in your name on the books of Nuveen Churchill Private Capital Income Fund. Nuveen Securities will not monitor your investments, and has not and will not make any recommendation regarding your investments. If you want to receive financial advice regarding a prospective investment in the shares, contact your broker-dealer or other financial intermediary.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| X | | | X | | |
| | *Financial Advisor Signature* | *Date* | | *Branch Manager Signature* <br>*(If required by Broker)* | *Date* |

---

**7.** **Electronic Delivery Form (Optional)**

------

Instead of receiving paper copies of the prospectus, prospectus supplements, annual reports, proxy statements, and other stockholder communications and reports, you may elect to receive electronic delivery of stockholder communications from Nuveen Churchill Private Capital Income Fund. If you would like to consent to electronic delivery, including pursuant to email, please check the box below for this election.

We encourage you to reduce printing and mailing costs and to conserve natural resources by electing to receive electronic delivery of stockholder communications and statement notifications. By consenting below to electronically receive stockholder communications, including your account-specific information, you authorize said offering(s) to either (i) email stockholder communications to you directly or (ii) make them available on our website and notify you by email when and where such documents are available.

You will not receive paper copies of these electronic materials unless specifically requested, the delivery of electronic materials is prohibited or we, in our sole discretion, elect to send paper copies of the materials.

By consenting to electronic access, you will be responsible for certain costs, such as your customary internet service provider charges, and may be required to download software in connection with access to these materials. You understand this electronic delivery program may be changed or discontinued and that the terms of this agreement may be amended at any time. You understand that there are possible risks associated with electronic delivery such as emails not transmitting, links failing to function properly and system failure of online service providers, and that there is no warranty or guarantee given concerning the transmissions of email, the availability of the website, or information on it, other than as required by law.

I consent to electronic delivery. <br> *Initials*

E-mail Address

If blank, the email provided in Section 4 or Section 3A will be used.

**8.** **Subscriber Signatures**

Nuveen Churchill Private Capital Income Fund is required by law to obtain, verify and record certain personal information from you or persons on your behalf in order to establish the account. Required information includes name, date of birth, permanent residential address and social security/taxpayer identification number. We may also ask to see other identifying documents. If you do not provide the information, Nuveen Churchill Private Capital Income Fund may not be able to open your account. By signing the Subscription Agreement, you agree to provide this information and confirm that this information is true and correct. If we are unable to verify your identity, or that of another person(s) authorized to act on your behalf, or if we believe we have identified potentially criminal activity, we reserve the right to take action as we deem appropriate which may include closing your account.

Please separately initial each of the representations below. Except in the case of fiduciary accounts, you may not grant any person a power of attorney to make the representations on your behalf. In order to induce Nuveen Churchill Private Capital Income Fund to accept this subscription, I hereby represent and warrant to you as follows:

------

**8. a. Please Note: All Items in this section 8.a. must be read and initialed**

---

| | | | |
|:---|:---|:---|:---|
| | | **Primary Investor Initials** | **Co-Investor Initials** |
| (i) | I have received the prospectus (as amended or supplemented) for Nuveen Churchill Private Capital Income Fund at least five business days prior to the date hereof. |  |  |
|  |  | *Initials* | *Initials* |
| (ii) | I have (A) a minimum net worth (not including home, home furnishings and personal automobiles) of at least $250,000, or (B) a minimum net worth (as previously described) of at least $70,000 and a minimum annual gross income of at least $70,000. |  |  |
|  |  | *Initials* | *Initials* |
| (iii) | In addition to the general suitability requirements described above, I meet the higher suitability requirements, if any, imposed by my state of primary residence as set forth in the prospectus under "SUITABILITY STANDARDS." |  |  |
|  |  | *Initials* | *Initials* |
| (iv) | If I am an entity that was formed for the purpose of purchasing shares, each individual that owns an interest in such entity meets the general suitability requirements described above. |  |  |
|  |  | *Initials* | *Initials* |
| (v) | I acknowledge that there is no public market for the shares, shares of this offering are not liquid and appropriate only as a long-term investment. |  |  |
|  |  | *Initials* | *Initials* |
| (vi) | I acknowledge that the shares have not been registered and are not expected to be registered under the laws of any country or jurisdiction outside of the United States except as otherwise described in the prospectus. |  |  |
|  |  | *Initials* | *Initials* |
| (vii) | I am purchasing the shares for my own account, or if I am purchasing shares on behalf of a trust or other entity of which I am a trustee or authorized agent, I have due authority to execute this subscription agreement and do hereby legally bind the trust or other entity of which I am trustee or authorized agent. |  |  |
| (vii) | I am purchasing the shares for my own account, or if I am purchasing shares on behalf of a trust or other entity of which I am a trustee or authorized agent, I have due authority to execute this subscription agreement and do hereby legally bind the trust or other entity of which I am trustee or authorized agent. |  |  |
|  |  | *Initials* | *Initials* |
| (viii) | I acknowledge that Nuveen Churchill Private Capital Income Fund may enter into transactions with affiliates that involve conflicts of interest as described in the prospectus. |  |  |
|  |  | *Initials* | *Initials* |
| (ix) | I acknowledge that subscriptions must be submitted at least five business days prior to first day of each month my investment will be executed as of the first day of the applicable month at the NAV per share as of the day preceding day. I acknowledge that I will not know the NAV per share at which my investment will be executed at the time I subscribe and the NAV per share will generally be made available at www.nc-pcap.com as of the last day of each month within 20 business days of the last day of each month. |  |  |
| (ix) | I acknowledge that subscriptions must be submitted at least five business days prior to first day of each month my investment will be executed as of the first day of the applicable month at the NAV per share as of the day preceding day. I acknowledge that I will not know the NAV per share at which my investment will be executed at the time I subscribe and the NAV per share will generally be made available at www.nc-pcap.com as of the last day of each month within 20 business days of the last day of each month. | *Initials* | *Initials* |
| (x) | I acknowledge that my subscription request will not be accepted any earlier than two business days before the first calendar day of each month. I acknowledge that I am not committed to purchase shares at the time my subscription order is submitted and I may cancel my subscription at any time before the time it has been accepted as described in the previous sentence. I understand that I may withdraw my purchase request by notifying the transfer agent, through my financial intermediary or directly on Nuveen Churchill Private Capital Income Fund's toll-free, automated telephone line, (833) 688-3368. |  |  |
| (x) | I acknowledge that my subscription request will not be accepted any earlier than two business days before the first calendar day of each month. I acknowledge that I am not committed to purchase shares at the time my subscription order is submitted and I may cancel my subscription at any time before the time it has been accepted as described in the previous sentence. I understand that I may withdraw my purchase request by notifying the transfer agent, through my financial intermediary or directly on Nuveen Churchill Private Capital Income Fund's toll-free, automated telephone line, (833) 688-3368. | *Initials* | *Initials* |

---

------

**8. b. If you live in any of the following states, please complete Appendix A to Nuveen Churchill Private Capital Income Fund Subscription Agreement: Alabama, Idaho, Iowa, Kansas, Kentucky, Maine, Missouri, Nebraska, New Jersey, New Mexico, Ohio, Oregon, Tennessee, and Vermont**

In the case of sales to fiduciary accounts, the minimum standards in Appendix A shall be met by the beneficiary, the fiduciary, account, or, by the donor or grantor, who directly or indirectly supplies the funds to purchase the shares if the donor or grantor is the fiduciary.

If you do not have another broker-dealer or other financial intermediary introducing you to Nuveen Churchill Private Capital Income Fund, then Nuveen Securities may be deemed to be acting as your broker-dealer of record in connection with any investment in Nuveen Churchill Private Capital Income Fund. For important information in this respect, see Section 6 above. **I declare that the information supplied in this Subscription Agreement is true and correct and may be relied upon by Nuveen Churchill Private Capital Income Fund. I acknowledge that the Broker / Financial Advisor (Broker / Financial Advisor of record) indicated in Section 6 of this Subscription Agreement and its designated clearing agent, if any, will have full access to my account information, including the number of shares I own, tax information (including the Form 1099) and redemption information. Investors may change the Broker / Financial Advisor of record at any time by contacting Nuveen Churchill Private Capital Income Fund Investor Relations at the number indicated below.**

**SUBSTITUTE IRS FORM W-9 CERTIFICATIONS (required for U.S. investors):**

Under penalties of perjury, I certify that:

(1)&nbsp;&nbsp;&nbsp;&nbsp;The number shown on this Subscription Agreement is my correct taxpayer identification number (or I am waiting for a number to be issued to me); and

(2)&nbsp;&nbsp;&nbsp;&nbsp;I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified me that I am no longer subject to backup withholding; and

(3)&nbsp;&nbsp;&nbsp;&nbsp;I am a U.S. citizen or other U.S. person (including a resident alien) (defined in IRS Form W-9); and

(4)&nbsp;&nbsp;&nbsp;&nbsp;The FATCA code(s) entered on this form (if any) indicating that I am exempt from FATCA reporting is correct.

**Certification instructions.** You must cross out item 2 above if you have been notified by the IRS that you are currently subject to backup withholding because you have failed to report all interest and dividends on your tax return.

The Internal Revenue Service does not require your consent to any provision of this document other than the certifications required to avoid backup withholding.

&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| | / /&nbsp;&nbsp;&nbsp;&nbsp; | | &nbsp;&nbsp;&nbsp;&nbsp;/ /&nbsp;&nbsp;&nbsp;&nbsp; |
| ***Signature of Investor*** | ***Date*** | ***Signature of Co-Investor or Custodian (If applicable)*** | ***Date*** |

---

**(MUST BE SIGNED BY CUSTODIAN OR TRUSTEE IF PLAN IS ADMINISTERED BY A THIRD PARTY)**

**9.** **Miscellaneous**

If investors participating in the Distribution Reinvestment Plan or making subsequent purchases of shares of Nuveen Churchill Private Capital Income Fund experience a material adverse change in their financial condition or can no longer make the representations or warranties set forth in Section 8 above, they are asked to promptly notify Nuveen Churchill Private Capital Income Fund and the Broker in writing. The Broker may notify Nuveen Churchill Private Capital Income Fund if an investor participating in the Distribution Reinvestment Plan can no longer make the representations or warranties set forth in Section 8 above, and Nuveen Churchill Private Capital Income Fund may rely on such notification to terminate such investor's participation in the Distribution Reinvestment Plan.

No sale of shares may be completed until at least five business days after you receive the final prospectus. To be accepted, a subscription request must be made with a completed and executed subscription agreement in good order and payment of the full purchase price at least five business prior to the first calendar day of the month (unless waived). You will receive a written confirmation of your purchase.

------

All items on the Subscription Agreement must be completed in order for your subscription to be processed. Subscribers are encouraged to read the prospectus in its entirety for a complete explanation of an investment in the shares of Nuveen Churchill Private Capital Income Fund.

**Return the completed Subscription Agreement to:**

---

| | |
|:---|:---|
| **Regular Mail** | **Overnight Mail** |
| Nuveen<br>C/O DST Systems, Inc.<br>PO Box 219307<br>Kansas City, MO 64121-9097 | Nuveen <br>C/O DST Systems, Inc.<br>430 W. 7th Street<br>Suite 219307<br>Kansas City, MO 64105 |

---

**Nuveen Churchill Private Capital Income Fund Investor Relations: (833) 688-3368**

------

**Appendix A**

For purposes of determining whether you satisfy the standards below, your net worth is calculated excluding the value of your home, home furnishings and automobiles, and, unless otherwise indicated, "liquid net worth" is defined as that portion of net worth that consists of cash, cash equivalents and readily marketable investments.

Investors in the following states have the additional suitability standards as set forth below.

---

| | | |
|:---|:---|:---|
| | **Primary Investor Initials** | **Co-Investor Initials** |
| If I am an **Alabama** resident, in addition to the suitability standards set forth above, an investment in Nuveen Churchill Private Capital Income Fund will only be sold to me if I have a liquid net worth of at least 10 times my investment in Nuveen Churchill Private Capital Income Fund and its affiliates. | | |
| If I am an **Alabama** resident, in addition to the suitability standards set forth above, an investment in Nuveen Churchill Private Capital Income Fund will only be sold to me if I have a liquid net worth of at least 10 times my investment in Nuveen Churchill Private Capital Income Fund and its affiliates. | *Initials* | *Initials* |
| If I am an **Idaho** resident, I must (i) have either 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 total investment in Nuveen Churchill Private Capital Income Fund to no more than 10% of such investor's liquid net worth. |  |  |
| If I am an **Idaho** resident, I must (i) have either 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 total investment in Nuveen Churchill Private Capital Income Fund to no more than 10% of such investor's liquid net worth. | *Initials* | *Initials* |
| If I am an **Iowa** resident, I must (i) have either (a) a liquid net worth of $85,000 and an annual gross income of $85,000 or (b) a liquid net worth of $300,000; and (ii) limit their aggregate investment in this offering and in the securities of other non-traded business development companies to 10% of such investor's 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). |  |  |
| If I am an **Iowa** resident, I must (i) have either (a) a liquid net worth of $85,000 and an annual gross income of $85,000 or (b) a liquid net worth of $300,000; and (ii) limit their aggregate investment in this offering and in the securities of other non-traded business development companies to 10% of such investor's 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). | *Initials* | *Initials* |
| If I am a **Kansas** resident, I understand that it is recommended by the Office of the Securities Commissioner that I limit my total investment in Nuveen Churchill Private Capital Income Fund's securities and other non-traded business development companies to not more than 10% of my liquid net worth. For these purposes, liquid net worth shall be defined as that portion of total net worth (total assets minus total liabilities) that is comprised of cash, cash equivalents and readily marketable securities. |  |  |
| If I am a **Kansas** resident, I understand that it is recommended by the Office of the Securities Commissioner that I limit my total investment in Nuveen Churchill Private Capital Income Fund's securities and other non-traded business development companies to not more than 10% of my liquid net worth. For these purposes, liquid net worth shall be defined as that portion of total net worth (total assets minus total liabilities) that is comprised of cash, cash equivalents and readily marketable securities. | *Initials* | *Initials* |
| If I am a **Kentucky** resident, in addition to the suitability standards set forth above, I may not invest more than 10% of my liquid net worth in Nuveen Churchill Private Capital Income Fund and its affiliates. |  |  |
| If I am a **Kentucky** resident, in addition to the suitability standards set forth above, I may not invest more than 10% of my liquid net worth in Nuveen Churchill Private Capital Income Fund and its affiliates. | *Initials* | *Initials* |
| 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 other 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. |  |  |
| 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 other 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. | *Initials* | *Initials* |
| If I am a **Missouri** resident, in addition to the suitability standards set forth above, I may not invest more than 10% of my liquid net worth in Nuveen Churchill Private Capital Income Fund. |  |  |
| If I am a **Missouri** resident, in addition to the suitability standards set forth above, I may not invest more than 10% of my liquid net worth in Nuveen Churchill Private Capital Income Fund. | *Initials* | *Initials* |
| If I am a **Nebraska** resident, I must have (i) either (a) an annual gross income of at least $70,000 and a net worth of at least $70,000, or (b) a net worth of at least $250,000; and (ii) I must limit my aggregate investment in this offering and the securities of other business development companies to 10% of such investor's net worth. Investors who are accredited investors as defined in Regulation D under the Securities Act of 1933, as amended, are not subject to the foregoing investment concentration limit. |  |  |
| If I am a **Nebraska** resident, I must have (i) either (a) an annual gross income of at least $70,000 and a net worth of at least $70,000, or (b) a net worth of at least $250,000; and (ii) I must limit my aggregate investment in this offering and the securities of other business development companies to 10% of such investor's net worth. Investors who are accredited investors as defined in Regulation D under the Securities Act of 1933, as amended, are not subject to the foregoing investment concentration limit. | *Initials* | *Initials* |
| If I am a **Nebraska** resident, I must have (i) either (a) an annual gross income of at least $70,000 and a net worth of at least $70,000, or (b) a net worth of at least $250,000; and (ii) I must limit my aggregate investment in this offering and the securities of other business development companies to 10% of such investor's net worth. Investors who are accredited investors as defined in Regulation D under the Securities Act of 1933, as amended, are not subject to the foregoing investment concentration limit. | *Initials* | *Initials* |

---

------

---

| | |
|:---|:---|
| If I am a **New Jersey** resident, I have either (a) a minimum liquid net worth of $100,000 and a minimum annual gross income of $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 total investment in Nuveen Churchill Private Capital Income 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 10% of my liquid net worth.<br>New Jersey investors are advised that the Class S shares will be subject to upfront selling commissions and/or dealer manager fees of up to 3.5% on NAV, and with respect to the D shares, an amount up to 1.5% cap on NAV. The Class S shares are subject to a distribution and shareholder servicing fee equal to up to 0.85% per annum of the aggregate NAV of the respective outstanding Class S, respectively, and with respect to the D shares, an amount equal to up to 0.25% per annum of the aggregate NAV of the outstanding Class D shares. These fees will reduce the amount of the purchase price that is available for investment and will cause the per share purchase price to be greater than the estimated value per share that will be reflected on my account statement (by broker dealers reporting a valuation calculated in accordance with NASD Rule 2340(c)(1)(A) relating to net investment valuation guidelines). These fees may also reduce the amount of distributions that are paid with respect to Class S and D shares. | |
| If I am a **New Jersey** resident, I have either (a) a minimum liquid net worth of $100,000 and a minimum annual gross income of $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 total investment in Nuveen Churchill Private Capital Income 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 10% of my liquid net worth.<br>New Jersey investors are advised that the Class S shares will be subject to upfront selling commissions and/or dealer manager fees of up to 3.5% on NAV, and with respect to the D shares, an amount up to 1.5% cap on NAV. The Class S shares are subject to a distribution and shareholder servicing fee equal to up to 0.85% per annum of the aggregate NAV of the respective outstanding Class S, respectively, and with respect to the D shares, an amount equal to up to 0.25% per annum of the aggregate NAV of the outstanding Class D shares. These fees will reduce the amount of the purchase price that is available for investment and will cause the per share purchase price to be greater than the estimated value per share that will be reflected on my account statement (by broker dealers reporting a valuation calculated in accordance with NASD Rule 2340(c)(1)(A) relating to net investment valuation guidelines). These fees may also reduce the amount of distributions that are paid with respect to Class S and D shares. | *Initials* |
| If I am a **New Jersey** resident, I have either (a) a minimum liquid net worth of $100,000 and a minimum annual gross income of $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 total investment in Nuveen Churchill Private Capital Income 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 10% of my liquid net worth.<br>New Jersey investors are advised that the Class S shares will be subject to upfront selling commissions and/or dealer manager fees of up to 3.5% on NAV, and with respect to the D shares, an amount up to 1.5% cap on NAV. The Class S shares are subject to a distribution and shareholder servicing fee equal to up to 0.85% per annum of the aggregate NAV of the respective outstanding Class S, respectively, and with respect to the D shares, an amount equal to up to 0.25% per annum of the aggregate NAV of the outstanding Class D shares. These fees will reduce the amount of the purchase price that is available for investment and will cause the per share purchase price to be greater than the estimated value per share that will be reflected on my account statement (by broker dealers reporting a valuation calculated in accordance with NASD Rule 2340(c)(1)(A) relating to net investment valuation guidelines). These fees may also reduce the amount of distributions that are paid with respect to Class S and D shares. | *Initials* |
| If I am a **New Mexico** resident, in addition to the general suitability standards listed above, I may not invest, and I may not accept from an investor more than ten percent (10%) of my liquid net worth in shares of Nuveen Churchill Private Capital Income 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. |  |
| If I am a **New Mexico** resident, in addition to the general suitability standards listed above, I may not invest, and I may not accept from an investor more than ten percent (10%) of my liquid net worth in shares of Nuveen Churchill Private Capital Income 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. | *Initials* |
| If I am a **New Mexico** resident, in addition to the general suitability standards listed above, I may not invest, and I may not accept from an investor more than ten percent (10%) of my liquid net worth in shares of Nuveen Churchill Private Capital Income 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. | *Initials* |
| If I am an **Ohio** resident, it is unsuitable to invest more than 10% of my liquid net worth in the issuer, affiliates of the issuer, and in any other non-traded business development company. "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. |  |
| If I am an **Ohio** resident, it is unsuitable to invest more than 10% of my liquid net worth in the issuer, affiliates of the issuer, and in any other non-traded business development company. "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. | *Initials* |
| If I am an **Ohio** resident, it is unsuitable to invest more than 10% of my liquid net worth in the issuer, affiliates of the issuer, and in any other non-traded business development company. "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. | *Initials* |
| If I am an **Oregon** resident, in addition to the suitability standards set forth above, I may not invest more than 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. |  |
| If I am an **Oregon** resident, in addition to the suitability standards set forth above, I may not invest more than 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. | *Initials* |
| If I am a **Tennessee** resident, I must have a liquid net worth of at least ten times my investment in Nuveen Churchill Private Capital Income Fund. |  |
| If I am a **Tennessee** resident, I must have a liquid net worth of at least ten times my investment in Nuveen Churchill Private Capital Income Fund. | *Initials* |
| If I am a **Vermont** resident and I am an accredited investor in Vermont, as defined in 17 C.F.R. § 230.501, I may invest freely in this offering. In addition to the suitability standards described above, if I am non-accredited Vermont investors, I may not purchase an amount in this offering that exceeds 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. |  |
| If I am a **Vermont** resident and I am an accredited investor in Vermont, as defined in 17 C.F.R. § 230.501, I may invest freely in this offering. In addition to the suitability standards described above, if I am non-accredited Vermont investors, I may not purchase an amount in this offering that exceeds 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. | *Initials* |

---

------

**Appendix B**

***Instructions: All purchasers please complete this Appendix B in its entirety.***

**1.&nbsp;&nbsp;&nbsp;&nbsp;Are you a "benefit plan investor" within the meaning of the Plan Asset Regulations**<sup>1</sup> **or will you use the assets of a "benefit plan investor"**<sup>2</sup> **to invest in Nuveen Churchill Private Capital Income Fund?**

☐ Yes &nbsp;&nbsp;&nbsp;&nbsp;☐ No

**2.&nbsp;&nbsp;&nbsp;&nbsp;If Question (1) above is "yes" please indicate what percentage of the purchaser's assets invested in Nuveen Churchill Private Capital Income Fund are considered to be the assets of "benefit plan investors" within the meaning of the Plan Asset Regulations:**

%

**3.&nbsp;&nbsp;&nbsp;&nbsp;If you are investing the assets of an insurance company general account** please indicate what percentage of the insurance company general account's assets invested in Nuveen Churchill Private Capital Income Fund are the assets of "benefit plan investors" within the meaning of Section 401(c)(1)(A) of the Employee Retirement Income Security Act of 1974, as amended, or the regulations promulgated thereunder?

%

**4.&nbsp;&nbsp;&nbsp;&nbsp;Please indicate if you are "Controlling Person" defined as:** (i) a person (including an entity), other than a "benefit plan investor" who has discretionary authority or control with respect to the assets of Nuveen Churchill Private Capital Income Fund, a person who provides investment advice for a fee (direct or indirect) with respect to such assets, or any "affiliate" of such a person. An "affiliate" of a person includes any person, directly or indirectly, through one or more intermediaries, controlling, controlled by, or under common control with the person. For purposes of this definition, "control," with respect to a person other than an individual, means the power to exercise a controlling influence over the management or policies of such person.

☐ Yes &nbsp;&nbsp;&nbsp;&nbsp;☐ No

<sup>1</sup> "**Plan Asset Regulations**" means the regulations issued by the United States Department of Labor at Section 2510.3-101 of Part 2510 of Chapter XXV, Title 29 of the United States Code of Federal Regulations, as modified by Section 3(42) of ERISA, as the same may be amended from time to time.

<sup>2</sup> The term "benefit plan investor" includes, for e.g.: (i) an "employee benefit plan" as defined in section 3(3) of the U.S. Employee Retirement Income Security Act of 1974, as amended ("ERISA"), that is subject to Title I of ERISA (such as employee welfare benefit plans (generally, plans that provide for health, medical or other welfare benefits) and employee pension benefit plans (generally, plans that provide for retirement or pension income)); (ii) "plans" described in section 4975(e)(1) of the U.S. Internal Revenue Code of 1986, as amended (the "Code"), that is subject to section 4975 of the Code (including, for e.g., an "individual retirement account", an "individual retirement annuity", a "Keogh" plan, a pension plan, an Archer MSA described in section 220(d) of the Code, a Coverdell education savings account described in section 530 of the Code and a health savings account described in section 223(d) of the Code) and (iii) an entity that is, or whose assets would be deemed to constitute the assets of, one or more "employee benefit plans" or "plans" (such as for e.g., a master trust or a plan assets fund) under ERISA or the Plan Asset Regulations.

<br>