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B•• I••••••••• C•••
A business development company traded as BCIC, managed by S••••• C•••• I••••••••• M••••••••• L••, holding $453M across 149 borrowers at Jun 30, 2026.
Composed from this BDC's filings and its latest schedule of investments.
- Fair value
- $453M
- Borrowers
- 149
- Mark on cost
- 88.7¢
- First lien
- 63%
What matters now
- $6.58Mon non-accrual, 2 borrowers
2 borrowers on non-accrual, $6.58M principal; the largest is S•• D••••••••• ($5.19M).
Q2 2026 · Loans that have stopped paying interest; they set the book's credit losses.
FactBDC schedules of investments, 30 Jun 2026For LPs and shareholders in these BDCs, co-lenders on the same namesOpen S•• D••••••••• → - 19 below 80¢$118M principal
19 positions across 15 borrowers marked below 80¢ on cost, $118M principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026 - 136 → 149borrowers
Added a net 13 borrowers in the quarter to Jun 30, 2026, to 149.
Q2 2026 · The book is turning over faster than usual.
- $460M → $772Mfair value, 4 quarters
Its portfolio grew 68% at fair value over the last four quarters.
Q2 2026 · A fast-growing book is deploying new capital.
Every headline figure, and the identifiersCIK 1372807 · file 814-00735ShowHide
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $772M | 149 | 89c | 25 | 648 bp |
| Mar 31, 2026 | $766M | 136 | 89c | 29 | 668 bp |
| Dec 31, 2025 | $953M | 141 | 91c | 35 | 633 bp |
| Sep 30, 2025 | $630M | 143 | 94c | 25 | 676 bp |
All 16 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $460M | 120 | 91c | 23 | 667 bp |
| Mar 31, 2025 | $1.8B | 120 | 89c | 23 | 658 bp |
| Dec 31, 2024 | $2.4B | 134 | 91c | 48 | 671 bp |
| Sep 30, 2024 | $1.9B | 119 | 91c | 24 | 648 bp |
| Jun 30, 2024 | $2.0B | 122 | 91c | 25 | 637 bp |
| Mar 31, 2024 | $1.6B | 43 | 94c | 27 | 623 bp |
| Dec 31, 2023 | $4.0B | 175 | 92c | 65 | 636 bp |
| Sep 30, 2023 | $1.8B | 42 | 93c | 35 | 639 bp |
| Jun 30, 2023 | $1.8B | 43 | 92c | 34 | 625 bp |
| Mar 31, 2023 | $1.5B | 42 | 92c | 27 | 612 bp |
| Dec 31, 2022 | $3.5B | 55 | 94c | 27 | 617 bp |
| Dec 31, 2021 | $293M | 12 | n/a | 0 | n/a |
- 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
- New borrower on a BDC scheduleJun 30, 2026
Full timeline · 20 eventsShow fewer
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 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
- Spread increasedJun 30, 2026
- A••••••• C••••••• S•••••••• L•• preferred equity1 BDC hold it · possible sponsor C••••••• P•••••• A•••••••• L••$22B n/a
- D••••••••• E••••• P••••••• L• other1 BDC hold it$1.2B n/a
- P•••••••• M••••• P••••••• L•• other1 BDC hold it$1.0B n/a
- D••••••••• P•••••••• M••••• P•••••••• L•• other1 BDC hold it$1.0B n/a
- S••••• B•••••• L•••• F•••••• I• L•• other1 BDC hold it$42.2M n/a
- K••• F•••••• 3• L•• J•••• V•••••• other1 BDC hold it$27.2M 29c
- K••• F•••••• 3• L•• other1 BDC hold it$27.2M n/a
- E••••••• H•••••••• L•• unsecured or subordinated subordinated debt1 BDC hold it · matures Sep 29, 2027 · possible sponsor C••••••• P•••••• A•••••••• L••$19.3M 108c
- A••••••• C••••••• S•••••••• L•• first lien term loan2 BDCs hold it · matures Jun 30, 2027 · possible sponsor C••••••• P•••••• A•••••••• L••$17.6M 162c
- C••••••••• L••• O••••••••• C•••••••• C•• 2••••• L••• C•• F••• S••••••••• other1 BDC hold it · matures Apr 20, 2030$15.2M n/a
- A••••••• A•••••• H•••••••• L•• second lien term loan1 BDC hold it · matures Mar 1, 2028$14.3M 102c
- M•••• T••••••• A••••••••• I•• first lien term loan4 BDCs hold it · matures Dec 14, 2027$13.7M 104c
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| A•••• M•••••• A••••••••• A•••• M••••••••• C•••••• P••••••••• O•••••••• 1••••• | unstated lien unstated | Not disclosed | Not disclosed n/a | ||
| T••• P••••••• E•••••••• H••••••• L•• E•••••: Oil & Gas | equity equity | Not disclosed | Not disclosed n/a | ||
| T••••• H•••••••• L•• | revolver first lien | Not disclosed | Not disclosed n/a | S+575 bp | Oct 2, 2027 |
| S•••• H••••••••• P••••••• L• - Services: B••••••• Two | unstated lien unstated | Not disclosed | Not disclosed | ||
| S•••• H••••••••• H••••••• L•• - Services: B••••••• One | unstated lien unstated | Not disclosed | Not disclosed | ||
| P•••••• L•• - Capital E•••••••• Two | unstated lien unstated | $2.0M | Not disclosed | ||
| T••• P••••••• E•••••••• H•••••••• L•• - E•••••: Oil & Gas | equity equity | $49.0M | Not disclosed | ||
| T••• I•• I••• E•••••: Oil & Gas | subordinated debt unsecured or subordinated | $75,000 | Not disclosed n/a | PIK 1.69% | Jan 24, 2025 |
| M••••••••• O•••• H••••••• B••• | warrants equity | Not disclosed | Not disclosed | ||
| A•••• M•••••• A••••••••• A•••• M••••••••• C•••••• | unstated lien unstated | Not disclosed | Not disclosed n/a |
- Fiscal year end
- 1231reported
- Incorporated
- DEreported
- On the SEC BDC report
- 2012 to 2026reported
- Filings listed
- 19reported10-Q and 10-K since 2022
- Former names
- Portman Ridge Finance Corp; KCAP Financial, Inc.; Kohlberg Capital CORP; Kohlberg Capital, LLCreported
- Latest schedule
- 0001193125-26-337959reported