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Private creditBorrowermedia and entertainmentaunknown

Cengage Learning, Inc

sponsor (inference, pe portfolio stem): Searchlight Capital Partners

Search this name across graphsid dfx:pc:83790888-ba25-3951-7e1c-be022ecc6134

Data as of Jun 30, 2026 (this record's last observation) from The BDC tape; Adviser-reported credit funds; Deal parties; Pending. Page built Sep 20, 2026, 4:15 PM UTC and rebuilt at most every 15 minutes.

Relationships: 1
Dated events: 39
On other graphs: 1
Observed: Dec 31, 2021 to Jun 30, 2026
6 observations

Across DFX

same identity by shared identifier, citation, or a bridge measured by hand

Private Equityidentity

Cengage Learning

name equal in sponsor portfolio · confidence 95% · family precision 100%

Facts

fact = as filed or announced; derived = computed by DFX; estimate = a band, never a point

Lenders: 8
BDCs: 4
Facilities: 3
Principal, latest: $24.5Mpieces as filed; a lower bound
Fair value, latest: $29.1M
Mark ratio: 99%fair value over cost, latest
Next maturity: Mar 24, 2031
First on a schedule: Dec 31, 2021
Last on a schedule: Jun 30, 2026
Sponsor basis: pe_portfolio_steminferencedeal party is a fact; a portfolio stem or a Form D signer is an inference

Facilities

one facility is one borrower, one kind and one lien; its size is the sum of the BDC pieces the tape can see, a lower bound, never the commitment

Kind	Lien	Size, lower bound	Fair value	Maturity	Maturity basis	Spread	PIK	Lenders	BDCs	Status	Last seen
other	unknown	$17.4M	$17.2M	Mar 24, 2031	Html schedule	0	n/a	1	1	Unknown	Jun 30, 2026
Term loan	First lien	$7.1M	$7.0M	Mar 31, 2031	Xbrl fact	0	n/a	2	4	Unknown	Jun 30, 2026
Common equity	equity	n/a	$4.8M	n/a	n/a	n/a	n/a	1	1	Unknown	Jun 30, 2026

Lenders holding it now

each BDC's own pieces on its latest schedule, folded to one row per lender; every amount is that BDC's piece as filed, so a sum is a lower bound; 7 rows folded into 5

BDC	Pieces	Principal	Fair value	Unfunded	Nearest maturity	As of
Blackstone Private Credit Fund	3	$17.4M	$17.2M	$0	Mar 24, 2031	Jun 30, 2026
Palmer Square Capital BDC Inc.	1	$5.9M	$5.8M	$0	Mar 24, 2031	Jun 30, 2026
Crescent Private Credit Income Corp	1	$1.2M	$1.2M	$0	Mar 31, 2031	Jun 30, 2026
Oaktree Specialty Lending Corp	1	$846,000	$838,000	$0	Mar 24, 2031	Jun 30, 2026
FS KKR Capital Corp	1	$0	$4.8M	$0	n/a	Jun 30, 2026

Relationships

Sponsors (1)

← Searchlight Capital PartnersSponsor of borrowersPE portfolio stem
Sep 13, 2026 to presentinferenceDFX's own graph

Dated events

24 bookkeeping events (roster, classification and holdings changes) folded below

Occurred
Mar 31, 2026
Coupon changed
Cengage Learning, Inc term loan: spread moved from 3.50% to 3.00%
BDC schedule of investments
$7.3M
Occurred
Mar 31, 2026
Spread decreased
Crescent Private Credit Income Corp: spread decreased in Cengage Learning, Inc (3.50% to 3.00%)
BDC schedule of investmentsobserved 4 months ago
0.03 usd
Occurred
Mar 31, 2026
Spread decreased
Palmer Square Capital BDC Inc.: spread decreased in Cengage Learning, Inc (3.50% to 3.00%)
BDC schedule of investmentsobserved 4 months ago
0.03 usd
Occurred
Mar 31, 2026
Spread decreased
Blackstone Private Credit Fund: spread decreased in Cengage Learning, Inc (3.50% to 3.00%)
BDC schedule of investmentsobserved 4 months ago
0.03 usd
Occurred
Dec 31, 2025
BDC joined a facility
Crescent Private Credit Income Corp joins Cengage Learning, Inc term loan (first lien) held by 3 other BDCs
BDC schedule of investments
$1.2M
Occurred
Sep 30, 2025
BDC left a facility
First Eagle Private Credit Fund no longer holds Cengage Learning, Inc term loan after 2025-09-30; 2 BDC(s) still hold it
BDC schedule of investments
$3.0M
Occurred
Dec 31, 2024
Coupon changed
Cengage Learning, Inc term loan: spread moved from 4.25% to 3.50%
BDC schedule of investments
$9.0M
Occurred
Dec 31, 2024
Spread decreased
Blackstone Private Credit Fund: spread decreased in Cengage Learning, Inc (4.25% to 3.50%)
BDC schedule of investmentsobserved 6 months ago
0.035 usd
Occurred
Dec 31, 2024
Spread decreased
Palmer Square Capital BDC Inc.: spread decreased in Cengage Learning, Inc (4.25% to 3.50%)
BDC schedule of investmentsobserved 6 months ago
0.035 usd
Occurred
Dec 31, 2024
Spread decreased
First Eagle Private Credit Fund: spread decreased in Cengage Learning, Inc (4.25% to 3.50%)
BDC schedule of investmentsobserved 1.4 years ago
0.035 usd
Occurred
Sep 30, 2024
BDC joined a facility
Palmer Square Capital BDC Inc. joins Cengage Learning, Inc term loan (first lien) held by 1 other BDC
BDC schedule of investments
$5.9M
Occurred
Mar 31, 2024
Maturity extended
Cengage Learning, Inc term loan: maturity moved from 2026-07-14 to 2031-03-15
BDC schedule of investments
$3.0M
Occurred
Mar 31, 2023
BDC left a facility
Oaktree Strategic Credit Fund no longer holds Cengage Learning, Inc term loan after 2023-03-31; 2 BDC(s) still hold it
BDC schedule of investments
$10.5M
Occurred
Sep 30, 2022
Marked down by a BDC
Blackstone Private Credit Fund: fair value markdown in Cengage Learning, Inc (101 to 91 cents on cost)
BDC schedule of investmentsobserved 3.9 years ago
0.914971085885629 usd
Occurred
Dec 31, 2021
Borrower first appears on a BDC schedule
Cengage Learning, Inc first appears in a BDC schedule (2 lenders)
Blackstone Private Credit FundBDC schedule of investmentsobserved 3.9 years ago
$19.0M

Show 24 bookkeeping events

Occurred
Jun 30, 2026
Blackstone Private Credit Fund: principal decreased in Cengage Learning, Inc ($17.4M principal)
Occurred
Mar 31, 2026
Blackstone Private Credit Fund: principal decreased in Cengage Learning, Inc ($22.9M principal)
Occurred
Mar 31, 2026
Crescent Private Credit Income Corp: principal decreased in Cengage Learning, Inc ($1.3M principal)
Occurred
Mar 31, 2026
Palmer Square Capital BDC Inc.: principal decreased in Cengage Learning, Inc ($5.9M principal)
Occurred
Dec 31, 2025
Blackstone Private Credit Fund: principal decreased in Cengage Learning, Inc ($25.4M principal)
Occurred
Dec 31, 2025
Crescent Private Credit Income Corp: new position in Cengage Learning, Inc ($2.3M principal)
Occurred
Dec 31, 2025
First Eagle Private Credit Fund: position exited in Cengage Learning, Inc ($3.0M principal)
Occurred
Dec 31, 2025
Palmer Square Capital BDC Inc.: principal increased in Cengage Learning, Inc ($11.8M principal)
Occurred
Sep 30, 2025
Blackstone Private Credit Fund: principal increased in Cengage Learning, Inc ($36.8M principal)
Occurred
Jun 30, 2025
Blackstone Private Credit Fund: principal increased in Cengage Learning, Inc ($31.9M principal)
Occurred
Mar 31, 2025
First Eagle Private Credit Fund: principal decreased in Cengage Learning, Inc ($3.0M principal)
Occurred
Mar 31, 2025
Blackstone Private Credit Fund: principal decreased in Cengage Learning, Inc ($28.5M principal)
Occurred
Dec 31, 2024
First Eagle Private Credit Fund: principal increased in Cengage Learning, Inc ($6.0M principal)
Occurred
Dec 31, 2024
Blackstone Private Credit Fund: principal increased in Cengage Learning, Inc ($44.1M principal)
Occurred
Sep 30, 2024
Palmer Square Capital BDC Inc.: new position in Cengage Learning, Inc ($6.0M principal)
Occurred
Jun 30, 2024
Blackstone Private Credit Fund: principal increased in Cengage Learning, Inc ($13.7M principal)
Occurred
Mar 31, 2024
Blackstone Private Credit Fund: new position in Cengage Learning, Inc ($2.0M principal)
Occurred
Mar 31, 2024
First Eagle Private Credit Fund: new position in Cengage Learning, Inc ($3.0M principal)
Occurred
Jun 30, 2023
Blackstone Private Credit Fund: position exited in Cengage Learning, Inc ($18.7M principal)
Occurred
Jun 30, 2023
Oaktree Strategic Credit Fund: position exited in Cengage Learning, Inc ($10.5M principal)
Occurred
Mar 31, 2023
Blackstone Private Credit Fund: principal decreased in Cengage Learning, Inc ($18.7M principal)
Occurred
Mar 31, 2023
Oaktree Strategic Credit Fund: principal increased in Cengage Learning, Inc ($10.5M principal)
Occurred
Dec 31, 2022
Blackstone Private Credit Fund: principal increased in Cengage Learning, Inc ($20.2M principal)
Occurred
Dec 31, 2021
FS KKR Capital Corp: new position in Cengage Learning, Inc

Provenance

Graph: Private Credit
Canonical id: dfx:pc:83790888-ba25-3951-7e1c-be022ecc6134
First observed: Dec 31, 2021
Last observed: Jun 30, 2026 2 months ago
Resolution: Identity across graphs by shared identifier (CRD, CIK, EIN, ADV fund id, individual CRD) or citation; a name match is shown as a candidate and never merged.

Cengage Learning, Inc

sponsor (inference, pe portfolio stem): Searchlight Capital Partners

Search this name across graphsid dfx:pc:83790888-ba25-3951-7e1c-be022ecc6134

Kind

Lien

Size, lower bound

Fair value

Maturity

Maturity basis

Spread

PIK

Lenders

BDCs

Status

Last seen

other

unknown

$17.4M

$17.2M

Mar 24, 2031

Html schedule

n/a

Unknown

Jun 30, 2026

Term loan

First lien

$7.1M

$7.0M

Mar 31, 2031

Xbrl fact

n/a

Unknown

Jun 30, 2026

Common equity

equity

n/a

$4.8M

n/a

Unknown

Jun 30, 2026

BDC

Pieces

Principal

Fair value

Unfunded

Nearest maturity

As of

Blackstone Private Credit Fund

$17.4M

$17.2M

Mar 24, 2031

Jun 30, 2026

Palmer Square Capital BDC Inc.

$5.9M

$5.8M

Mar 24, 2031

Jun 30, 2026

Crescent Private Credit Income Corp

$1.2M

Mar 31, 2031

Jun 30, 2026

Oaktree Specialty Lending Corp

$846,000

$838,000

Mar 24, 2031

Jun 30, 2026

FS KKR Capital Corp

$4.8M

n/a

Jun 30, 2026