Hancock Park Stockholders Approve Wind-Down And Exit From BDC Regulation

With the vote behind it, the fund turns to asset sales the board expects to take 12 to 24 months, with liquidating distributions estimated at $3.50 to $4.30 a share.

October 7, 2026

Stockholders of Hancock Park Corporate Income, Inc. approved a plan of sale and dissolution at the company's October 6 annual meeting, authorizing the non-traded business development company to sell all or substantially all of its assets and then dissolve. Holders also approved withdrawing the company's election to be regulated as a BDC under the Investment Company Act of 1940, clearing both votes the wind down depended on.

How the Vote Broke Down

The plan received 939,420 votes in favor, 6,149 against and 34,702 abstentions, with no broker non-votes. The BDC withdrawal passed with 943,772 votes for, 7,176 against and 29,323 abstaining. In total, 980,271 shares were represented in person or by proxy, out of 1,474,525 shares outstanding and entitled to vote.

Turnout mattered more than usual. Under the company's proxy, the plan needed support from holders of a majority of all votes entitled to be cast, not merely a majority of shares voting, so unreturned proxies and abstentions effectively counted as opposition. In the weeks before the meeting, Hancock Park stepped up solicitation, including a phone campaign aimed at holders it had not been able to reach.

What Comes Next

The plan lets the board sell the portfolio in one or more transactions without returning to stockholders, pay or reserve for liabilities, and distribute what remains. Those liabilities include the remaining $11.0 million of an unsecured note due in November 2026.

In its proxy materials, the board estimated total liquidating distributions of approximately $3.50 to $4.30 per share, based on assumptions as of June 30, 2026, and said asset sales may be completed within 12 to 24 months of approval. The company cautioned that actual amounts and timing could differ materially. Regular distributions are expected to give way to liquidating distributions.

To exit the BDC regime, the company will file Form N-54C with the SEC. Once that takes effect, Hancock Park will no longer be subject to the 1940 Act provisions governing BDCs, including asset coverage requirements and restrictions on affiliated transactions. The board has also reserved the option to move remaining assets into a liquidating trust or convert the company into a liquidating entity, in which case shares would convert into non-transferable interests.

Board and Auditor

Holders elected Ashwin Ranganathan as a Class I director to serve until the 2029 annual meeting, with 939,743 votes for, 5,924 against and 34,604 abstentions. They ratified KPMG LLP as independent auditor for fiscal 2026 by 963,037 votes to none, with 17,234 abstentions, and approved an adjournment proposal. Elaine Healy and Bilal Rashid continue as directors, with terms expiring in 2028 and 2027, respectively. Rashid, the company's chief executive officer, signed the report.