The investment firm also raised its public offering prices and declared March distributions.

February 24, 2026

Credit Facility Extended

Market conditions shift quickly. For investment firms managing private portfolios, access to capital and disciplined valuation matter every month.

CNL Strategic Capital moved on both fronts in February.

The company extended the maturity of its revolving credit facility through May 15, 2026, unless further extended. The amendment, executed by its wholly owned subsidiary with Valley National Bank, keeps the existing line of credit in place and provides continued balance sheet flexibility as the firm evaluates new investment opportunities.

Net Asset Value Moves Higher

The board also approved updated net asset values per share as of January 31, 2026. Total net asset value across all share classes reached approximately $1.43 billion, supported by total assets of about $1.46 billion.

Every share class posted a modest month-over-month increase:

• Class FA: $43.08 per share
• Class A: $38.28 per share
• Class T: $38.20 per share
• Class D: $38.00 per share
• Class I: $38.70 per share
• Class S: $43.59 per share

Monthly gains ranged from five cents to eleven cents, depending on the class.

The primary driver was portfolio performance. Twelve of the company’s eighteen investments increased in fair value during January. Five declined, and one remained unchanged. The net result was a steady lift in overall valuation.

Updated Offering Prices

Revised net asset values led to adjustments in the public offering.

Effective February 27, 2026, new offering prices were set as follows:

• Class A: $41.84 per share
• Class T: $40.10 per share
• Class D: $38.00 per share
• Class I: $38.70 per share

Certain classes include upfront selling commissions and dealer manager fees, while Class D and Class I shares do not carry upfront sales loads. Shares issued through the distribution reinvestment plan will be priced at the January 31 net asset value per share for the applicable class.

March Distributions Declared

The board declared monthly cash distributions payable March 27, 2026, to shareholders of record on March 26.

• Class FA, Class A, Class I and Class S: $0.104167 per share
• Class T: $0.083333 per share
• Class D: $0.093750 per share

Performance Snapshot

Performance remained positive across reporting periods.

Year-to-date returns through January 31 were approximately 0.4 percent to 0.5 percent for most share classes without sales charges. One-year returns ranged from roughly 10 percent to 12 percent, depending on class and fee structure. Since inception, annualized returns have generally fallen between about 9 percent and 12 percent.

Distribution Sources

For January, the company declared $3.7 million in total distributions. On a GAAP basis, about 60 percent of those distributions were funded by net investment income, with the remainder sourced from capital, including offering proceeds.

After accounting for reinvested distributions, cash paid during the month totaled approximately $1.76 million.

The company also noted that distributions in prior years have been funded through a mix of net investment income, expense support, offering proceeds and, in certain periods, realized gains. Any future repayment of expense support could reduce income available for distributions.

For investors, the update highlights three core developments: liquidity remains in place, portfolio valuations edged higher in January, and monthly distributions continue on schedule.