A newly filed Form 4 shows PM Alpha II DAC, a 10%-plus owner of AB Private Lending Fund (AB-Lend), purchased 53,060 shares of the fund on the open market on March 2, 2026. The transaction was priced at $24.99 per share, for a total outlay of $1,325,964.98.
This was a straightforward open-market buy, meaning the entity used its own capital to acquire the shares rather than receiving them through an option exercise, grant, or other non-cash mechanism. Following the purchase, PM Alpha II DAC’s directly held stake in AB-Lend stands at 1,182,939 shares.
What the filing shows
AB Private Lending Fund is structured as a non-traded business development company, and filings from large, related, or affiliated holders of this type are common as funds and their sponsors adjust exposure over time. PM Alpha II DAC’s status as a 10%+ owner means its trading activity is disclosed to the SEC under Section 16 rules that apply to significant shareholders, officers, and directors.
The size of the purchase, north of $1.3 million, is notable in absolute terms, though it should be read in the context of an already substantial existing position of nearly 1.13 million shares prior to the transaction. The added 53,060 shares represent an incremental increase to a position that was already significant relative to the fund’s outstanding shares.
Why insider buying gets attention
Purchases made with an insider’s own money, rather than transactions tied to compensation plans, are generally categorized separately by researchers and market watchers because they reflect a discretionary decision to commit additional capital. Academic studies on insider trading have found that clusters of open-market purchases by insiders can correlate with subsequent periods of outperformance on average, though results vary widely by company, sector, and time period, and no single filing can be used to predict future returns.
This filing does not indicate why PM Alpha II DAC chose to increase its stake at this particular price and time, and the disclosure itself contains no additional commentary from the fund or the insider. As with any Form 4 filing, the document simply records that a transaction took place, the terms involved, and the resulting ownership position.
Readers interested in tracking additional filings from AB Private Lending Fund or other insiders connected to the fund can monitor future SEC disclosures as they become public. WhoIsBuyingNow.com will continue to report on notable Form 4 activity as it is filed.
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Source: original SEC Form 4 filing.