Private Credit Intelligence
The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.
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M••••• F•••••••• I••••••••• C•••
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $2.8B | 268 | 94c | 25 | 521 bp |
| Mar 31, 2026 | $3.0B | 276 | 95c | 24 | 527 bp |
| Dec 31, 2025 | $3.2B | 293 | 97c | 36 | 525 bp |
| Sep 30, 2025 | $3.2B | 291 | 98c | 44 | 527 bp |
| Jun 30, 2025 | $3.5B | 298 | 98c | 48 | 531 bp |
| Mar 31, 2025 | $31B | 460 | 98c | 33 | 552 bp |
| Dec 31, 2024 | $31B | 533 | 100c | 40 | 557 bp |
| Sep 30, 2024 | $30B | 448 | 99c | 24 | 568 bp |
| Jun 30, 2024 | $24B | 341 | 99c | 23 | 593 bp |
| Mar 31, 2024 | $23B | 320 | 99c | 23 | 606 bp |
| Dec 31, 2023 | $21B | 331 | 101c | 21 | 630 bp |
| Sep 30, 2023 | $23B | 288 | 99c | 14 | 628 bp |
| Jun 30, 2023 | $24B | 310 | 99c | 10 | 618 bp |
| Mar 31, 2023 | $24B | 291 | 132c | 13 | 604 bp |
| Dec 31, 2022 | $26B | 286 | 119c | 25 | 588 bp |
| Mar 31, 2022 | $3.6B | 115 | n/a | 0 | n/a |
Each quarter end is the schedule as filed for that instant; a restated year end is taken from the latest filing that carries it.
Counted at BDC level here; the adviser page counts across every BDC it manages. A sponsor named by Form D signer consensus is an inference.
- New lender joined a facilityJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- C••••••••• C••••••••• C••••••••• U• H•••••• C••••••••• first lien term loan1 BDC hold it · matures Jun 30, 2029$60.9M 99c
- L••••• L••• O•••• L•• first lien term loan2 BDCs hold it · matures Sep 18, 2027$47.7M 92c
- B••••• F•••• B••••• F••• • B•••••••• L•• first lien term loan2 BDCs hold it · matures Jul 30, 2027$33.8M 100c
- T••••• S••••••••• T••••• S••••••••• L•• first lien term loan2 BDCs hold it · matures Dec 14, 2027$32.9M 89c
- A•• R••••••••• G•••••• P•••••••• L•• first lien term loan2 BDCs hold it · matures May 17, 2027$32.4M 99c
- M•••••• G••••••• M•••••• G•••••••• L•• first lien term loan2 BDCs hold it · matures Apr 26, 2028$30.6M 101c
- T•• W•••••• C•••••• Z••••• B••••• L•• first lien term loan1 BDC hold it · matures Jan 31, 2031$30.2M 100c
- L••••• L•• first lien term loan2 BDCs hold it · matures Feb 2, 2029$29.1M 99c
- V••••••••• B••••••• L•••••• first lien term loan3 BDCs hold it · matures Aug 6, 2030$29.0M 100c
- H••••• a•• S••••••• H••••• H•••••• L•• first lien term loan2 BDCs hold it · matures Jul 1, 2027$28.6M 88c
- U• L•••• S•••••• U••• A••••••••• I•• first lien term loan1 BDC hold it · matures Jun 1, 2027$27.9M 100c
- T••••• H••• T••• C•• L•• first lien term loan1 BDC hold it · matures Jan 31, 2028$27.5M 99c
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| L•••••• P•••• L••••••••• C••••••••• I••. Consumer Finance | preferred equity equity | n/a | n/a n/a | ||
| B••••• S•••••••• B••••• P••••• Holdings, Inc. Trading Companies & Distributors | equity equity | n/a | n/a n/a | ||
| C••••••••• C•••••••• H••••••• L•• | equity equity | n/a | n/a | ||
| A••••••, A•••••• H•••••••• L•• (fka CNSI Holdings, LLC) Health Care T••••••••• | revolver first lien | n/a | n/a n/a | SOFR+550 bp | Dec 17, 2029 |
| A••• P••• 2••• T•••• (Del. Stat. Trust) | equity equity | n/a | n/a | ||
| B••• R•••• T•••• L••• M••••••• I••. Ground Transportation | warrants equity | n/a | n/a | ||
| A•••••• Topco, LLC | equity equity | n/a | n/a | ||
| A•••••• Topco, LLC Health Care Providers & Services | equity equity | n/a | n/a | ||
| L•••••• P•••• L••••••••• C••••••••• I••. Consumer Finance | equity equity | n/a | n/a n/a | ||
| A•••••• P•••••• I••. | term loan first lien | n/a | n/a | ||
| M•••••• V••••• P••••••• M••••••••• L•• Health Care Providers & Services | term loan first lien | $10.8M | n/a n/a | 10.48% | Jan 12, 2029 |
| N•• E•• T••••••••• I••. I | preferred equity equity | n/a | n/a | ||
| C••••••••• C•••••••• SPE I LLC (f/k/a Maxus Capital Carbon SPE I LLC) FC2 LLC C•••••••• | equity equity | n/a | n/a | ||
| T••••• S••••• S•••••••• H•••••••• L•• I | preferred equity equity | n/a | n/a | ||
| U•••••• U••••••• I••. Software | delayed draw term loan first lien | n/a | n/a | SOFR+600 bp | Jun 1, 2029 |
| S•••••• T••••••••• H•••••••• I••., Aventiv T•••••••••, LLC (fka S•••••• T••••••••• Holdings, LLC) Interactive Media & Services | term loan second lien | $9.8M | n/a n/a | 13.01% | Sep 30, 2026 |
| T••••• S••••••••• B•••••• L• Health Care Providers & Services | preferred equity equity | n/a | n/a n/a | ||
| E•••• A••••••••• L•• | preferred equity equity | n/a | n/a | ||
| X•••••• TopCo, LLC | equity equity | n/a | n/a | ||
| N•••••• L•• (dba G•••••••) I | equity equity | n/a | n/a | ||
| T••••• S••••••••• B•••••• L• Health Care Providers & Services | equity equity | n/a | n/a n/a | ||
| M••• A••••••• F••••••• L•• | equity equity | n/a | n/a | ||
| C••••••••• US Holding Corporation | revolver first lien | n/a | n/a | ||
| M•• P••••• C••••••••• Health Care T••••••••• | revolver first lien | n/a | n/a n/a | SOFR+450 bp | Jun 9, 2032 |
| N•• E•• T••••••••• I••. IT Services | term loan first lien | n/a | n/a | ||
| G•••••••, N•••••• L•• (dba G•••••••) Insurance | equity equity | n/a | n/a | ||
| A•••••• Topco, LLC Health Care Providers & Services | preferred equity equity | n/a | n/a | ||
| B••• R•••• T•••• L••• M••••••• I••. Ground Transportation | equity equity | n/a | n/a n/a | ||
| O••••••• G••••• I••. I | preferred equity equity | n/a | n/a | ||
| C••••••••• C••••••••• | preferred equity equity | n/a | n/a | ||
| A•••••• Topco, LLC | preferred equity equity | n/a | n/a | ||
| C••••••••• C••••••••• | preferred equity equity | n/a | n/a | ||
| G••••• B••• 2•••••• L•• | equity equity | n/a | n/a | ||
| I••••••••• W••• G•••• I• B•••• L•• Electrical Equipment | revolver first lien | n/a | n/a n/a | SOFR+510 bp | Jun 28, 2029 |
| A•••••• P•••••• I••. | revolver first lien | n/a | n/a | ||
| O•• L•• T•• O•••• B••••••• I••. Pharmaceuticals | notes unsecured or subordinated | $21,000 | n/a n/a | 11.34% | Jul 11, 2030 |
| A••••••• I••. (International Cruise & Excursion Gallery, Inc) | equity equity | n/a | n/a | ||
| S••• O•••• L•• | term loan lien unstated | n/a | n/a | ||
| M•••••••, M••••••• L.P. Health Care T••••••••• | delayed draw term loan first lien | n/a | n/a n/a | SOFR+450 bp | Sep 30, 2032 |
| F•• L•• I• | equity equity | n/a | n/a |
- Fiscal year end
- 1231reported
- Incorporated
- MDreported
- On the SEC BDC report
- 2012 to 2026reported
- Filings listed
- 19reported10-Q and 10-K since 2022
- Former names
- A••••• INVESTMENT CORP; A••••• CAPITAL CORPreported
- Latest schedule
- 0001193125-26-335848reported