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Vehicle file · Non-traded BDC

Investcorp US Private Credit BDC II Liquidating Trust

What its SEC filings show.

SEC CIK 1984739·Inc. DE·Fiscal year end 12/31·Data as filed · pulled Nov 10, 2026
What this file is.Not a review. Every figure below is the issuer's own number as tagged in its filings to the SEC, unadjusted, with a link to the filing it came from. When a new filing lands, the table updates; when a filing changes something for the people who hold this vehicle, we write it up and link it under Our reads.

Investcorp US Private Credit BDC II Liquidating Trust is a non-traded BDC registered with the SEC under CIK 1984739 (incorporated in DE). Its most recent filing is a 15-12G dated Aug 13, 2026. As of Mar 31, 2026 it reported total assets of $59.3M and stockholders' equity of $33.2M. Net income (loss) for the quarter to Mar 31, 2026 was −$1.7M. It raised $9.1M from new shares in the quarter to Mar 31, 2026. Reported NAV per share: $19.82 as of Mar 31, 2026.

What the figures say together

Our arithmetic on the issuer's own figures, only pairing numbers from the same period or date, and ranked against the 111 other vehicles of this type we track.

  • Liabilities were 44% of total assets at Mar 31, 2026. It ranks 33rd of the 91 vehicles of this type that report the same figures (1st = least leveraged).
  • The management fee ran at about 1.28% a year of stockholders' equity ($104K in the quarter to Mar 31, 2026, annualised; our arithmetic). It ranks 42nd of the 75 vehicles of this type that report the same figures (1st = lowest fee).
  • NAV per share moved down 10.8% in a year, from $22.22 to $19.82 (before distributions). It ranks 69th of the 75 vehicles of this type that report the same figures (1st = best NAV change).

Key figures, as filed.

Balance sheet
FigureLatestPeriodA year earlierChangeSource
Total assets$59.3Mas of Mar 31, 2026——10-Q · May 15, 2026
Investments at fair value$42.8Mas of Mar 31, 2026——10-Q · May 15, 2026
Cash and equivalents$1.6Mas of Mar 31, 2026$1.3M+29.9%10-Q · May 15, 2026
Total liabilities$26.1Mas of Mar 31, 2026——10-Q · May 15, 2026
Debt (carrying amount)$22.4Mas of Mar 31, 2026——10-Q · May 15, 2026
Notes payable$22.0Mas of Mar 31, 2026——10-Q · May 15, 2026
Stockholders' equity$33.2Mas of Mar 31, 2026——10-Q · May 15, 2026
NAV per share$19.82as of Mar 31, 2026$22.22−10.8%10-Q · May 15, 2026
Shares outstanding1.7M sharesas of Mar 31, 20261.2M shares+34.7%10-Q · May 15, 2026
Shares outstanding (cover page)1.7M sharesas of May 14, 2026——10-Q · May 15, 2026
Results and cash flow
FigureLatestPeriodA year earlierChangeSource
Net income (loss)−$1.7Mquarter to Mar 31, 2026−$357K−367.3%10-Q · May 15, 2026
Cash from operations−$4.5Mquarter to Mar 31, 2026$4K−109700.0%10-Q · May 15, 2026
Management fees$104Kquarter to Mar 31, 2026$0—10-Q · May 15, 2026
Capital raised, distributions and repurchases
FigureLatestPeriodA year earlierChangeSource
Capital raised (common stock issued)$9.1Mquarter to Mar 31, 2026$0—10-Q · May 15, 2026

Flows (revenues, income, cash, distributions, repurchases) are shown for the period the issuer reported them in, which may be a quarter, a year-to-date span or a full year; “a year earlier” compares only periods of the same length. A vehicle that does not tag a figure in XBRL will not show it here even if the PDF discloses it.

Filing timeline.

The last 18 documents this issuer filed with the SEC. Marked rows are the ones that tend to matter to holders.

Our reads on Investcorp US Private Credit BDC II Liquidating Trust.

Source: SEC EDGAR, XBRL company facts and filing index for CIK 1984739, retrieved Nov 10, 2026. Figures are reproduced as tagged by the issuer; errors in the source carry through, which is why every row links to the filing. Nothing here is investment advice.

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