# EDGAR Filing Document

**Accession Number:** 0001903793
**File Stem:** 0001999371-26-002408
**Filing Date:** 2026-2
**Character Count:** 18291
**Document Hash:** 82b8a626d7d1a32f4ccff60288ca37dd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001999371-26-002408.hdr.sgml**: 20260202

**ACCESSION NUMBER**: 0001999371-26-002408

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260202

**DATE AS OF CHANGE**: 20260202

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TPG Twin Brook Capital Income Fund
- **CENTRAL INDEX KEY:** 0001913724

**ORGANIZATION NAME:**
- **EIN:** 886103622
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-93859
- **FILM NUMBER:** 26589090

**BUSINESS ADDRESS:**
- **STREET 1:** 245 PARK AVENUE, 26TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10167
- **BUSINESS PHONE:** (212) 692-8237

**MAIL ADDRESS:**
- **STREET 1:** 245 PARK AVENUE, 26TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10167

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AG Twin Brook Capital Income Fund
- **DATE OF NAME CHANGE:** 20220225
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TPG GP A, LLC
- **CENTRAL INDEX KEY:** 0001903793

**ORGANIZATION NAME:**
- **EIN:** 872054646
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 301 COMMERCE STREET
- **STREET 2:** SUITE 3300
- **CITY:** FORT WORTH
- **STATE:** TX
- **ZIP:** 76102
- **BUSINESS PHONE:** (817) 871-4000

**MAIL ADDRESS:**
- **STREET 1:** 301 COMMERCE STREET
- **STREET 2:** SUITE 3300
- **CITY:** FORT WORTH
- **STATE:** TX
- **ZIP:** 76102

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 5)**

**TPG Twin Brook Capital Income Fund**

*(Name of Issuer)*

**Class I common shares of beneficial interest, par value $0.001 per share**

*(Title of Class of Securities)*

**00840T100**

*(CUSIP Number)*

**Jennifer L. Chu**<br>TPG Inc.<br>301 Commerce Street, Suite 3300<br>Fort Worth TX 76102<br>(817) 871-4000

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**01/29/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **00840T100** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**TPG GP A, LLC** | Name of reporting person<br>**TPG GP A, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**17336880.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**17336880.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**17336880.00** | Aggregate amount beneficially owned by each reporting person<br>**17336880.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**18.0%** | Percent of class represented by amount in Row (11)<br>**18.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** The percentage beneficial ownership set forth in response to Item 11 above is based on a total of 96,570,775.681 Common Shares (as defined below) outstanding as of the date of this report, as disclosed by the Issuer (as defined below) to the Reporting Persons (as defined below).

| **CUSIP No.** | **00840T100** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**ANGELO GORDON & CO., L.P.** | Name of reporting person<br>**ANGELO GORDON & CO., L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**17336880.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**17336880.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**17336880.00** | Aggregate amount beneficially owned by each reporting person<br>**17336880.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**18.0%** | Percent of class represented by amount in Row (11)<br>**18.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IA** | Type of Reporting Person (See Instructions)<br>**IA** | |

---

**Comment for Reporting Person:** The percentage beneficial ownership set forth in response to Item 11 above is based on a total of 96,570,775.681 Common Shares outstanding as of the date of this report, as disclosed by the Issuer to the Reporting Persons.

| **CUSIP No.** | **00840T100** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**AG GP LLC** | Name of reporting person<br>**AG GP LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**17336880.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**17336880.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**17336880.00** | Aggregate amount beneficially owned by each reporting person<br>**17336880.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**18.0%** | Percent of class represented by amount in Row (11)<br>**18.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**HC** | Type of Reporting Person (See Instructions)<br>**HC** | |

---

**Comment for Reporting Person:** The percentage beneficial ownership set forth in response to Item 11 above is based on a total of 96,570,775.681 Common Shares outstanding as of the date of this report, as disclosed by the Issuer to the Reporting Persons.

| **CUSIP No.** | **00840T100** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**COULTER, JAMES G** | Name of reporting person<br>**COULTER, JAMES G** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**17336880.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**17336880.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**17336880.00** | Aggregate amount beneficially owned by each reporting person<br>**17336880.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**18.0%** | Percent of class represented by amount in Row (11)<br>**18.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** The percentage beneficial ownership set forth in response to Item 11 above is based on a total of 96,570,775.681 Common Shares outstanding as of the date of this report, as disclosed by the Issuer to the Reporting Persons.

| **CUSIP No.** | **00840T100** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**WINKELRIED JON** | Name of reporting person<br>**WINKELRIED JON** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**17336880.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**17336880.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**17336880.00** | Aggregate amount beneficially owned by each reporting person<br>**17336880.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**18.0%** | Percent of class represented by amount in Row (11)<br>**18.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** The percentage beneficial ownership set forth in response to Item 11 above is based on a total of 96,570,775.681 Common Shares outstanding as of the date of this report, as disclosed by the Issuer to the Reporting Persons.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Class I common shares of beneficial interest, par value $0.001 per share

**(b) Name of Issuer:**
TPG Twin Brook Capital Income Fund

**(c) Address of Issuer's Principal Executive Offices:**
245 Park Avenue, 26th Floor, New York, NY, 10167

This Amendment No. 5 (the "Amendment") amends and supplements the Schedule 13D filed by the relevant Reporting Persons on January 9, 2023, as amended and supplemented by Amendment No. 1 filed on August 30, 2023, Amendment No. 2 filed on November 2, 2023, Amendment No. 3 filed on July 2, 2024, and Amendment No. 4 filed on December 30, 2025 (as so amended, the "Original Schedule 13D" and, as amended and supplemented by this Amendment, the "Schedule 13D"), with respect to the Common Shares of the Issuer. Capitalized terms used in this Amendment and not otherwise defined shall have the same meanings ascribed to them in the Original Schedule 13D.

**Item 4. Purpose of Transaction**

Item 4 of the Original Schedule 13D is hereby amended to include the following:

"Effective on January 2, 2026, BDC Holdings accepted a $10 million capital contribution from an investor for investment purposes. In connection with such capital contribution, BDC Holdings purchased additional Common Shares from the Issuer in its ongoing public offering. From time to time, to the extent BDC Holdings receives additional capital contributions, BDC Holdings may purchase additional Common Shares.

In addition, each of Angelo Gordon and BDC Holdings may participate in the Issuer's distribution reinvestment plan (the "DRIP") from time to time. Each of Angelo Gordon and BDC Holdings directly holds 1,126.168 Common Shares and 198,650.728 Common Shares, respectively, received upon the reinvestment of distributions pursuant to the DRIP."

**Item 5. Interest in Securities of the Issuer**

**(a)**
This Amendment amends and restates the second paragraph of Item 5(a)-(b) of the Original Schedule 13D in its entirety as set forth below:

"The following sentence is based on a total of 96,570,775.681 Common Shares outstanding as of the date of this report, as disclosed by the Issuer to the Reporting Persons. Pursuant to Rule 13d-3 under the Act, the Reporting Persons may be deemed to beneficially own 17,336,880.055 Common Shares, which constitutes approximately 18.0% of the outstanding Common Shares."

**(b)**
See response to Item 5(a) above.

**(c)**
This Amendment amends Item 5(c) of the Original Schedule 13D to include the following:

"Effective on January 2, 2026, BDC Holdings purchased 396,912.024 Common Shares at $25.1945 per Common Share (the "January 2026 Purchase Price"). The January 2026 Purchase Price was equal to the net asset value per Common Share as of December 31, 2025, as determined by the Issuer on January 29, 2026. In addition, BDC Holdings acquired an aggregate of 40,397.269 Common Shares in the past 60 days as a result of the DRIP. Except as otherwise reported herein and in the Amendment No. 4 to the Schedule 13D filed on December 30, 2025, none of the Reporting Persons nor, to the best knowledge of the Reporting Persons, without independent verification, any person named in Item 2 hereof, has effected any transaction in the Common Shares during the past 60 days."

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** TPG GP A, LLC

**Signature:** /s/ Martin Davidson

**Name/Title:** Martin Davidson / Chief Accounting Officer

**Date:** 02/02/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** ANGELO GORDON & CO., L.P.

**Signature:** /s/ Christopher Moore

**Name/Title:** Christopher Moore / Authorized Signatory of GP

**Date:** 02/02/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** AG GP LLC

**Signature:** /s/ Christopher Moore

**Name/Title:** Christopher Moore / Authorized Signatory

**Date:** 02/02/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** COULTER, JAMES G

**Signature:** /s/ Gerald Neugebauer

**Name/Title:** Gerald Neugebauer, on behalf of James G. Coulter (1)

**Date:** 02/02/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** WINKELRIED JON

**Signature:** /s/ Gerald Neugebauer

**Name/Title:** Gerald Neugebauer, on behalf of Jon Winkelried (2)

**Date:** 02/02/2026