AB 2020 Form 10-K

The Fund has entered into Subscription Agreements with investors providing for the private placement of its Shares. Under the terms of the Subscription Agreements, investors are required to fund drawdowns to purchase the Shares up to the amount of their respective Capital Commitments on an as-needed basis upon the issuance of a capital draw down notice. As of December 31, 2020, the Fund received Capital Commitments of $447,843,050. Inception to December 31, 2020, the Fund received Capital Contributions to the Fund of $216,819,165. Proceeds from the issuance of Shares in respect of draw down notices described below were used for investing activities and for other general corporate purposes. For the year ended December 31, 2020, the Fund received total Capital Commitments of $50,222,499, had $6,356,733 of dividend reinvestments and issued 713,215 Shares to stockholders that opted into the Fund’s dividend reinvestment plan, issued capital drawdown notices to stockholders for an aggregate of $75,121,231 and issued 8,434,606 shares to stockholders in respect of such capital drawdowns. For the year ended December 31, 2019, the Fund received total Capital Commitments of $89,116,441, had $3,559,092 of dividend reinvestments and issued 358,450 Shares to stockholders that opted into the Fund’s dividend reinvestment plan, issued capital drawdown notices to its stockholders for an aggregate amount of $78,937,266 and issued 7,908,617 Shares to stockholders in respect of such capital drawdowns and $232,123 was withdrawn from the Fund for 23,338 Shares as part of the SBCAA share repurchase program. Distributions Distributions to stockholders are recorded on the record date. To the extent that the Fund has income available, the Fund intends to distribute quarterly distributions to its stockholders. The Fund’s quarterly distributions, if any, will be determined by the Board. Any distributions to the Fund’s stockholders will be declared out of assets legally available for distribution. The following table summarizes distributions declared during the year ended December 31, 2020: Date Declared Record Date Payment Date Amount Per Share Total Distributions March 27, 2020 March 27, 2020 April 29, 2020 $ 0.24 $ 3,551,533 June 26, 2020 June 26, 2020 July 29, 2020 $ 0.13 $ 2,572,039 September 28, 2020 September 28, 2020 October 28, 2020 $ 0.15 $ 2,925,160 December 29, 2020 December 29, 2020 January 28, 2021 $ 0.16 $ 3,133,557 Total distributions declared $ 0.68 $12,182,289 The following table summarizes distributions declared during the year ended December 31, 2019: Date Declared Record Date Payment Date Amount Per Share Total Distributions March 27, 2019 March 27, 2019 April 25, 2019 $ 0.15 $1,057,242 June 28, 2019 June 28, 2019 July 19, 2019 $ 0.16 $1,690,999 September 25, 2019 September 26, 2019 October 30, 2019 $ 0.13 $1,674,929 December 27, 2019 December 27, 2019 January 30, 2020 $ 0.17 $2,119,822 Total distributions declared $ 0.61 $6,542,992 For purposes of Section 19 of the 1940 Act, the Fund estimated the quarterly sources of any distributions paid during the period covered by this report in accordance with income tax regulations. Pursuant to Rule 19a-1(e) under the 1940 Act, the table below sets forth the actual source information for distributions paid during the fiscal year ended December 31, 2020. The information below is not provided for U.S. federal income tax reporting purposes. The tax character of all distributions is reported on Form 1099-DIV (for stockholders who receive U.S. federal tax reporting) at the end of each calendar year. 74