# EDGAR Filing Document

**Accession Number:** 0001938649
**File Stem:** 0001398344-26-004253
**Filing Date:** 2026-3
**Character Count:** 9034
**Document Hash:** f16ecb3075c02990523931a9a2d02707
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-26-004253.hdr.sgml**: 20260303

**ACCESSION NUMBER**: 0001398344-26-004253

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20260225

**ITEM INFORMATION**: Unregistered Sales of Equity Securities

**ITEM INFORMATION**: Other Events

**FILED AS OF DATE**: 20260303

**DATE AS OF CHANGE**: 20260303

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Partners Group Lending Fund, LLC
- **CENTRAL INDEX KEY:** 0001938649

**ORGANIZATION NAME:**
- **EIN:** 883153051
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 814-01941
- **FILM NUMBER:** 26715123

**BUSINESS ADDRESS:**
- **STREET 1:** C/O PARTNERS GROUP (USA) INC.
- **STREET 2:** 1114 AVENUE OF THE AMERICAS, 37TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
- **BUSINESS PHONE:** 3036063732

**MAIL ADDRESS:**
- **STREET 1:** C/O PARTNERS GROUP (USA) INC.
- **STREET 2:** 1114 AVENUE OF THE AMERICAS, 37TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Partners Group Lending Fund, Inc.
- **DATE OF NAME CHANGE:** 20220719

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported):

February 25, 2026

**Partners Group Lending Fund, LLC** **(Exact name of registrant as specified in its charter)**

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| | | |
|:---|:---|:---|
| **Delaware** | **000-56792** | **88-3153051** |
| **(State or other jurisdiction of**<br> **incorporation or organization)** | **(Commission <br> file number)** | **(I.R.S. Employer**<br> **Identification No.)** |

---

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| | |
|:---|:---|
| **1114 Avenue of the Americas** **, 37<sup>th</sup> Floor, <br> New York, NY** | **10036** |
| **(Address of principal executive officers)**<br>| **(Zip Code)** |

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**(877) 748-7209 Registrant's telephone number, including area code**

**Not Applicable**

**(Former name or former address, if changed since last report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act

(17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act

(17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

(17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

(17 CFR 240.13e-4(c))

Securities Registered pursuant to section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| N/A | N/A | N/A |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

[X]

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 13(a) of the Exchange Act. [ ]

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| | |
|:---|:---|
| **Item 3.02** | **Unregistered Sales of Unregistered Securities.** |

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As of February 1, 2026, Partners Group Lending Fund, LLC (the "Fund") sold approximately 6,849 Class M units (the "Units") for an aggregate price of $52.5 thousand<sup>4</sup>. The number of Units to be issued was finalized on February 25, 2026. The offer and sale of the Units was made pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), Regulation D promulgated thereunder and other available exemptions from the registration requirements of the Securities Act to investors who are "accredited investors" within the meaning of Regulation D under the Securities Act.

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| | |
|:---|:---|
| **Item 8.01** | **Other Events.** |

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***Net Asset Value***

 ****

The net asset value ("NAV") per Unit as of January 31, 2026<sup>4</sup>, as determined in accordance with the valuation policies and procedures approved by the Fund's board of managers, was as follows:

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| | |
|:---|:---|
|  | **NAV as of** |
| **Unit Class** | **January 31, 2026** |
| Class I Units | $7.6654 |
| Class M Units | $7.6654 |

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As of January 31, 2026, the Fund's aggregate NAV was approximately $278.6 million including approximately $226.0 million debt outstanding.

 ****

***Unit Split***

On February 26, 2026, the Fund's Board of Directors approved a 5:1 forward split of all of its issued and outstanding common units. Unitholders of record as of February 26, 2026, received four additional units of each class of common unit for each unit held. The forward split was effective on February 27, 2026. As of February 27, 2026, the Fund had approximately 181,682,064 issued and outstanding Class I Units and approximately 48,421 issued and outstanding Class M Units.

 ****

***Portfolio and Business Commentary***

*Portfolio Statistics*

 

As of January 31, 2026, the Fund had investments in 55 portfolio companies<sup>1</sup>. The geographic allocation of the Fund's portfolio companies, represented as a percentage of fair value, were as follows: 97% in North America, 0% in Europe, and 3% in Asia and Rest of World<sup>1</sup>.

 

 *Portfolio Summary as of January 31, 2026*

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| | |
|:---|:---|
| Total Portfolio Size | $474.1 million |
| Borrowers<sup>1</sup> | 55 |
| Weighted Average Credit Spread<sup>2</sup> | 5.1% |
| Median LTM EBITDA (at entry)<sup>3</sup> | $94.4 million |
| Weighted Average First Lien Net Leverage Ratio (at entry)<sup>3</sup> | 5.8x |
| Weighted Average Total Net Leverage Ratio (at entry)<sup>3</sup> | 6.0x |
| Weighted Average loan to value ("LTV") (at entry)<sup>3</sup> | 40.5% |

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<sup>1</sup> Calculation excludes CLO tranches

<sup>2</sup> Calculation includes all instruments with floating rate spreads

<sup>3</sup> Calculation excludes CLO tranches, opportunistic credit, and recurring revenue loans

<sup>4</sup> Per unit data does not reflect the unit split that was effective on February 27, 2026

*Asset Allocations*

 

As of January 31, 2026, based on fair value, the Fund's portfolio investments consisted of the following:

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| | |
|:---|:---|
| **Portfolio Investments** | |
| First lien / Unitranche Loans | 94.6% |
| Opportunistic Credit | 1.5% |
| Broadly Syndicated Loans | 0.0% |
| CLO tranches | 3.9% |
| Total | 100.0% |

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As of January 31, 2026, the ten largest industries in which the Fund was invested, represented as a percentage of fair value<sup>1</sup>, were as follows:

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| | |
|:---|:---|
| **Industry**<sup>2</sup> | |
| Software | 25.5% |
| Health Care Providers & Services | 11.3% |
| IT Services | 9.3% |
| Professional Services | 9.2% |
| Capital Markets | 6.5% |
| Trading Companies & Distributors | 5.7% |
| Diversified Consumer Services | 5.2% |
| Electronic Equipment, Instruments & Components | 4.3% |
| Commercial Services & Supplies | 3.4% |
| Electrical Equipment | 3.1% |

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As of January 31, 2026, the ten largest portfolio company investments in which the Fund was committed, based on par value or, in the case of equity investments, cost, were as follows:

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| | | |
|:---|:---|:---|
| **Issuer** | Par or Cost ($ in millions) | % of Total |
| Diligent Corporation | 22.3 | 3.9% |
| PT Intermediate Holdings III, LLC | 22.1 | 3.9% |
| PMA Parent Holdings, LLC | 20.7 | 3.6% |
| DigiCert, Inc. | 19.6 | 3.4% |
| Ascend Partner Services LLC | 18.5 | 3.2% |
| Optimizely North America Inc. | 18.2 | 3.2% |
| Ruby Buyer, LLC | 16.0 | 2.8% |
| MRI Software LLC | 15.1 | 2.6% |
| CSAFE Acquisition Company, Inc. | 14.9 | 2.6% |
| GovCIO Buyer Company | 14.5 | 2.5% |

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As of January 31, 2026, based on fair value, investments by vintage year were as follows<sup>1</sup>:

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| | |
|:---|:---|
| **Investments Split by Year** | |
| 2023 | 14.7% |
| 2024 | 44.6% |
| 2025 | 39.5% |
| 2026 | 1.2% |

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<sup>1</sup> Calculation excludes CLO tranches

<sup>2</sup> Reflects minor adjustments to the categorization of certain investments between industries

**<u>SIGNATURES</u>**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | | |
|:---|:---|:---|:---|
|  |  | **Partners Group Lending Fund, LLC** | **Partners Group Lending Fund, LLC** |
|  |  | By: | /s/ Brian Igoe |
| Dated: | March 3, 2026 |  | Brian Igoe |
|  |  |  | Chief Financial Officer |

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