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Adelaide Borrower, LLC

Private Credit

Search this name across graphsid dfx:pc:fc6cc5b5-11f0-2d91-73bf-f67d412708cf

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 19, 2026, 8:22 PM UTC and rebuilt at most every 15 minutes.

Relationships: 0
Dated events: 40
On other graphs: 0
Observed: Jun 30, 2024 to Jun 30, 2026
30 observations

Across DFX

This entity has not been resolved onto another DFX graph by a shared identifier. A name match elsewhere would be a candidate, never an identity, and none is recorded.

Facts

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

Lenders: 8
BDCs: 8
Facilities: 6
Principal, latest: $66.8Mpieces as filed; a lower bound
Fair value, latest: $82.8M
Mark ratio: 101%fair value over cost, latest
Next maturity: Nov 1, 2027
First on a schedule: Jun 30, 2024
Last on a schedule: Jun 30, 2026

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
Term loan	First lien	$64.1M	$82.7M	May 8, 2030	Html schedule	0	n/a	8	8	Unknown	Jun 30, 2026
Delayed draw	First lien	$1.7M	$-154,000	May 8, 2030	Xbrl fact	0	n/a	2	3	Unknown	Jun 30, 2026
revolver	First lien	$1.0M	$256,000	May 8, 2030	Xbrl fact	0	n/a	2	3	Unknown	Jun 30, 2026
other	unknown	$35.3M	$35.3M	May 8, 2030	Html schedule	0	n/a	1	1	Unknown	Mar 31, 2025
revolver	unknown	n/a	$-12,000	n/a	n/a	n/a	n/a	1	1	Unknown	Jun 30, 2024
Delayed draw	unknown	n/a	$-20,000	n/a	n/a	n/a	n/a	1	1	Unknown	Jun 30, 2024

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; 30 rows folded into 8

BDC	Pieces	Principal	Fair value	Unfunded	Nearest maturity	As of
Franklin BSP Capital Corp	5	$36.3M	$36.3M	$12.6M	May 8, 2030	Jun 30, 2026
Antares Strategic Credit Fund	5	$10.2M	$7.2M	$2.6M	May 8, 2030	Jun 30, 2026
New Mountain Finance Corp	4	$6.5M	$4.8M	$0	Nov 1, 2027	Jun 30, 2026
New Mountain Guardian IV BDC, L.L.C.	4	$6.5M	$4.8M	$0	Nov 1, 2027	Jun 30, 2026
NMF SLF I, Inc.	4	$3.8M	$3.1M	$0	Nov 1, 2027	Jun 30, 2026
New Mountain Guardian IV Income Fund, L.L.C.	4	$3.2M	$2.4M	$0	n/a	Jun 30, 2026
Antares Private Credit Fund	1	$203,000	$197,000	$0	May 8, 2030	Jun 30, 2026
26North BDC, Inc.	3	$0	$24.0M	$0	May 8, 2030	Jun 30, 2026

Relationships

No published relationship touches this entity yet.

Dated events

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

Occurred
Jun 30, 2026
Coupon changed
Adelaide Borrower, LLC delayed draw: spread moved from 6.75% to 6.25%
BDC schedule of investments
$1.7M
Occurred
Jun 30, 2026
Marked down across lenders
Adelaide Borrower, LLC revolver: marked from 105 to 90 cents on cost across 2 lender(s)
BDC schedule of investments
$1.0M
Occurred
Jun 30, 2026
Spread decreased
Antares Strategic Credit Fund: spread decreased in Adelaide Borrower, LLC (6.75% to 6.00%)
BDC schedule of investmentsobserved 1 months ago
0.06 usd
Occurred
Jun 30, 2026
Marked down by a BDC
Antares Strategic Credit Fund: fair value markdown in Adelaide Borrower, LLC (94 to 78 cents on cost)
BDC schedule of investmentsobserved 1 months ago
0.776119402985075 usd
Occurred
Jun 30, 2026
Marked down by a BDC
26North BDC, Inc.: fair value markdown in Adelaide Borrower, LLC (115 to 107 cents on cost)
BDC schedule of investmentsobserved 1 months ago
1.07373271889401 usd
Occurred
Mar 31, 2026
Coupon changed
Adelaide Borrower, LLC delayed draw: spread moved from 6.25% to 6.75%
BDC schedule of investments
$1.7M
Occurred
Mar 31, 2026
Coupon changed
Adelaide Borrower, LLC term loan: spread moved from 3.38% to 6.25%
BDC schedule of investments
$27.8M
Occurred
Mar 31, 2026
Marked down by a BDC
Antares Strategic Credit Fund: fair value markdown in Adelaide Borrower, LLC (105 to 94 cents on cost)
BDC schedule of investmentsobserved 4 months ago
0.935185185185185 usd
Occurred
Mar 31, 2026
Spread decreased
Franklin BSP Capital Corp: spread decreased in Adelaide Borrower, LLC (6.75% to 6.25%)
BDC schedule of investmentsobserved 4 months ago
0.0625 usd
Occurred
Mar 31, 2026
Spread decreased
26North BDC, Inc.: spread decreased in Adelaide Borrower, LLC (6.75% to 6.25%)
BDC schedule of investmentsobserved 4 months ago
0.0625 usd
Occurred
Mar 31, 2026
Spread decreased
Antares Strategic Credit Fund: spread decreased in Adelaide Borrower, LLC (6.75% to 6.25%)
BDC schedule of investmentsobserved 4 months ago
0.0625 usd
Occurred
Mar 31, 2026
Spread decreased
Antares Private Credit Fund: spread decreased in Adelaide Borrower, LLC (6.75% to 6.25%)
BDC schedule of investmentsobserved 4 months ago
0.0625 usd
Occurred
Dec 31, 2025
PIK interest added
Adelaide Borrower, LLC delayed draw: PIK interest of 3.38% appears (was cash pay)
BDC schedule of investments
$1.7M
Occurred
Dec 31, 2025
Coupon changed
Adelaide Borrower, LLC delayed draw: spread moved from 6.25% to 6.75%
BDC schedule of investments
$1.7M
Occurred
Dec 31, 2025
Coupon changed
Adelaide Borrower, LLC term loan: spread moved from 3.38% to 6.25%
BDC schedule of investments
$67.9M
Occurred
Dec 31, 2025
Spread increased
New Mountain Guardian IV Income Fund, L.L.C.: spread increased in Adelaide Borrower, LLC (3.38% to 6.25%)
BDC schedule of investmentsobserved 1 months ago
0.0625 usd
Occurred
Dec 31, 2025
Spread increased
New Mountain Finance Corp: spread increased in Adelaide Borrower, LLC (3.38% to 6.25%)
BDC schedule of investmentsobserved 1 months ago
0.0625 usd
Occurred
Dec 31, 2025
Spread increased
Antares Strategic Credit Fund: spread increased in Adelaide Borrower, LLC (3.38% to 6.75%)
BDC schedule of investmentsobserved 1 months ago
0.0675 usd
Occurred
Dec 31, 2025
PIK interest added
Antares Strategic Credit Fund: pik added in Adelaide Borrower, LLC (0.00% to 3.38%)
BDC schedule of investmentsobserved 1 months ago
0.0338 usd
Occurred
Dec 31, 2025
Spread increased
NMF SLF I, Inc.: spread increased in Adelaide Borrower, LLC (3.38% to 6.25%)
BDC schedule of investmentsobserved 1 months ago
0.0625 usd
Occurred
Dec 31, 2025
Spread increased
Antares Strategic Credit Fund: spread increased in Adelaide Borrower, LLC (6.25% to 6.75%)
BDC schedule of investmentsobserved 1 months ago
0.0675 usd
Occurred
Dec 31, 2025
Spread increased
Antares Private Credit Fund: spread increased in Adelaide Borrower, LLC (3.38% to 6.75%)
BDC schedule of investmentsobserved 1 months ago
0.0675 usd
Occurred
Dec 31, 2025
Spread increased
New Mountain Guardian IV BDC, L.L.C.: spread increased in Adelaide Borrower, LLC (3.38% to 6.25%)
BDC schedule of investmentsobserved 1 months ago
0.0625 usd
Occurred
Sep 30, 2025
Coupon changed
Adelaide Borrower, LLC revolver: spread moved from 3.38% to 6.25%
BDC schedule of investments
$1.0M
Occurred
Sep 30, 2025
PIK interest added
Adelaide Borrower, LLC term loan: PIK interest of 3.38% appears (was cash pay)
BDC schedule of investments
$25.6M
Occurred
Sep 30, 2025
Coupon changed
Adelaide Borrower, LLC term loan: spread moved from 6.25% to 3.38%
BDC schedule of investments
$25.6M
Occurred
Sep 30, 2025
PIK interest added
New Mountain Guardian IV BDC, L.L.C.: pik added in Adelaide Borrower, LLC (0.00% to 3.38%)
BDC schedule of investmentsobserved 10 months ago
0.0338 usd
Occurred
Sep 30, 2025
Spread decreased
NMF SLF I, Inc.: spread decreased in Adelaide Borrower, LLC (6.25% to 3.38%)
BDC schedule of investmentsobserved 10 months ago
0.0338 usd
Occurred
Sep 30, 2025
PIK interest added
26North BDC, Inc.: pik added in Adelaide Borrower, LLC (0.00% to 3.38%)
BDC schedule of investmentsobserved 10 months ago
0.03375 usd
Occurred
Sep 30, 2025
Spread increased
Franklin BSP Capital Corp: spread increased in Adelaide Borrower, LLC (6.25% to 6.75%)
BDC schedule of investmentsobserved 10 months ago
0.0675 usd
Occurred
Sep 30, 2025
PIK interest added
Antares Private Credit Fund: pik added in Adelaide Borrower, LLC (0.00% to 3.38%)
BDC schedule of investmentsobserved 10 months ago
0.0338 usd
Occurred
Sep 30, 2025
PIK interest added
NMF SLF I, Inc.: pik added in Adelaide Borrower, LLC (0.00% to 3.38%)
BDC schedule of investmentsobserved 10 months ago
0.0338 usd
Occurred
Sep 30, 2025
Spread increased
26North BDC, Inc.: spread increased in Adelaide Borrower, LLC (6.25% to 6.75%)
BDC schedule of investmentsobserved 10 months ago
0.0675 usd
Occurred
Sep 30, 2025
PIK interest added
New Mountain Finance Corp: pik added in Adelaide Borrower, LLC (0.00% to 3.38%)
BDC schedule of investmentsobserved 10 months ago
0.0338 usd
Occurred
Sep 30, 2025
Spread decreased
Antares Private Credit Fund: spread decreased in Adelaide Borrower, LLC (6.25% to 3.38%)
BDC schedule of investmentsobserved 10 months ago
0.0338 usd
Occurred
Sep 30, 2025
PIK interest added
Antares Strategic Credit Fund: pik added in Adelaide Borrower, LLC (0.00% to 3.38%)
BDC schedule of investmentsobserved 10 months ago
0.0338 usd
Occurred
Sep 30, 2025
PIK interest added
New Mountain Guardian IV Income Fund, L.L.C.: pik added in Adelaide Borrower, LLC (0.00% to 3.38%)
BDC schedule of investmentsobserved 10 months ago
0.0338 usd

Show 3 bookkeeping events

Occurred
Mar 31, 2026
New Mountain Guardian IV Income Fund, L.L.C.: principal decreased in Adelaide Borrower, LLC ($3.2M principal)
Occurred
Dec 31, 2025
New Mountain Guardian IV Income Fund, L.L.C.: principal increased in Adelaide Borrower, LLC ($6.5M principal)
Occurred
Dec 31, 2025
NMF SLF I, Inc.: principal decreased in Adelaide Borrower, LLC ($3.9M principal)

Provenance

Graph: Private Credit
Canonical id: dfx:pc:fc6cc5b5-11f0-2d91-73bf-f67d412708cf
First observed: Jun 30, 2024
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.

Adelaide Borrower, LLC

Private Credit

Search this name across graphsid dfx:pc:fc6cc5b5-11f0-2d91-73bf-f67d412708cf

Kind

Lien

Size, lower bound

Fair value

Maturity

Maturity basis

Spread

PIK

Lenders

BDCs

Status

Last seen

Term loan

First lien

$64.1M

$82.7M

May 8, 2030

Html schedule

n/a

Unknown

Jun 30, 2026

Delayed draw

First lien

$1.7M

$-154,000

May 8, 2030

Xbrl fact

n/a

Unknown

Jun 30, 2026

revolver

First lien

$1.0M

$256,000

May 8, 2030

Xbrl fact

n/a

Unknown

Jun 30, 2026

other

unknown

$35.3M

May 8, 2030

Html schedule

n/a

Unknown

Mar 31, 2025

revolver

unknown

n/a

$-12,000

n/a

Unknown

Jun 30, 2024

Delayed draw

unknown

n/a

$-20,000

n/a

Unknown

Jun 30, 2024

BDC

Pieces

Principal

Fair value

Unfunded

Nearest maturity

As of

Franklin BSP Capital Corp

$36.3M

$12.6M

May 8, 2030

Jun 30, 2026

Antares Strategic Credit Fund

$10.2M

$7.2M

$2.6M

May 8, 2030

Jun 30, 2026

New Mountain Finance Corp

$6.5M

$4.8M

Nov 1, 2027

Jun 30, 2026

New Mountain Guardian IV BDC, L.L.C.

$6.5M

$4.8M

Nov 1, 2027

Jun 30, 2026

NMF SLF I, Inc.

$3.8M

$3.1M

Nov 1, 2027

Jun 30, 2026

New Mountain Guardian IV Income Fund, L.L.C.

$3.2M

$2.4M

n/a

Jun 30, 2026

Antares Private Credit Fund

$203,000

$197,000

May 8, 2030

Jun 30, 2026

26North BDC, Inc.

$24.0M

May 8, 2030

Jun 30, 2026