X0202 SCHEDULE 13D/A 0001104659-23-017790 0001735964 XXXXXXXX LIVE 5 Common Stock 01/23/2026 false 0001859919 06763A101 Barings Private Credit Corporation

300 South Tryon Street, Suite 2500 Charlotte NC 28202

Ann Maurer 414-299-2270 c/o UMB Fund Services, Inc. 235 West Galena Street Milwaukee WI 53212 0001735964 N Cliffwater Corporate Lending Fund WC N DE 0.00 732022.20 0.00 42041303.20 42041303.20 N 28.7 IV 1 The Reporting Persons have waived voting power in excess of 4.99%. 0001659851 N Cliffwater LLC OO N DE 0.00 732022.23 0.00 42041303.20 42041303.20 N 28.7 IA 2. The Reporting Persons have waived voting power in excess of 4.99%. Common Stock Barings Private Credit Corporation 300 South Tryon Street, Suite 2500 Charlotte NC 28202 This Statement is being filed by Cliffwater Corporate Lending Fund, a statutory trust organized under the laws of the state of Delaware ("CCLF"), and Cliffwater LLC, a Delaware limited liability company, its investment adviser (together with CCLF, the "Reporting Persons"). The following are the officers of CCLF: Stephen Nesbitt, President; Lance Johnson, Treasurer; Ann Maurer, Treasurer; and Bernadette Murphy, Chief Compliance Officer. The following are the trustees of CCLF: Matthew Worley, Dominic Garcia, Paul Williams and Stephen Nesbitt. The address of CCLF's principal place of business and principal executive office is c/o UMB, 235 West Galena Street, Milwaukee, WI 53212. The address of Cliffwater LLC's principal place of business and principal executive office is 4640 Admiralty Way, 11th Floor, Marina del Rey, CA 90292. See Item 2(a) None of the persons or entities listed above has, during the last five years, been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors); or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. See Item 2(d). All of the individuals listed above are citizens of the United States. See Item 2(a). The responses to Items 7 to 13 on the two cover pages of this Schedule 13D are incorporated herein by reference. The Reporting Persons have waived voting power in excess of 4.99%. See Item 5(b). None of CCLF or the persons listed in Item 2 above effected any transactions in the shares during the sixty days before the date of this Schedule 13D/A. Fund of Funds Agreement, Dated as of August 20, 2021, between Cliffwater Corporate Lending Fund and Barings Private Credit Corporation. https://www.sec.gov/Archives/edgar/data/1659851/000110465921113553/tm2127109d1_ex99b.htm Cliffwater Corporate Lending Fund /s/ Stephen Nesbitt 05/14/2026 Cliffwater LLC /s/ Stephen Nesbitt 05/14/2026