SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL OMB Number: 3235-0104 Estimated average burden hours per response: 0.5

1. Name and Address of Reporting Person* Maurer Ann (Last) (First) (Middle) C/O UMB FUND SERVICES, INC. 235 WEST GALENA STREET (Street) MILWAUKEE WI 53212 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 03/13/2023	3. Issuer Name and Ticker or Trading Symbol Pender Real Estate Credit Fund [ PNDRX ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Secretary	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* Maurer Ann (Last) (First) (Middle) C/O UMB FUND SERVICES, INC. 235 WEST GALENA STREET (Street) MILWAUKEE WI 53212 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner X Officer (give title below) Other (specify below) Secretary

1. Name and Address of Reporting Person* Lee David G. (Last) (First) (Middle) C/O UMB FUND SERVICES, INC. 235 WEST GALENA STREET (Street) MILWAUKEE WI 53212 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* SHUGRUE GARY (Last) (First) (Middle) C/O UMB FUND SERVICES, INC. 235 WEST GALENA STREET (Street) MILWAUKEE WI 53212 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* GALLAGHER TERRANCE P (Last) (First) (Middle) C/O UMB FUND SERVICES, INC. 235 WEST GALENA STREET (Street) MILWAUKEE WI 53212 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Seyferth Robert (Last) (First) (Middle) C/O UMB FUND SERVICES, INC. 235 W. GALENA STREET (Street) MILWAUKEE WI 53212 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

Remarks:

No shares of beneficial interest are owned.

No securities are beneficially owned.

	/s/ Ann Maurer	01/23/2024
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.