DFX Intelligence

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.

The names on this page are hidden. Create a free account and they fill in. No card, and every figure, date and source on this page is public either way.

BDC portfolio

F••••••• B•• L•••••• C•••

BDCnon-tradedCIK 1490927file 814-00821NEW YORK, NYmanaged by F••••••• B•• L•••••• A••••••• L•••••

Fair value

$3.7B

as of Sep 30, 2023

Principal held

$3.5B

debt pieces, the filer's figure

Cost

$4.1B

90c on cost

Unfunded

$217M

commitments not yet drawn

Positions

606

308 borrowers

First lien

31%

94% debt by fair value

Quarters on the tape

since Dec 31, 2020

Facilities held

0 sponsors financed

Portfolio through time

Fair value by quarter end$3.7B as of Sep 30, 2023

Dec 31, 2021$4.6B then

Quarter	Fair value	Borrowers	On cost	PIK pos.	Avg spread
Sep 30, 2023	$3.7B	308	89c	35	555 bp
Jun 30, 2023	$3.8B	312	89c	31	556 bp
Mar 31, 2023	$3.7B	310	88c	22	554 bp
Dec 31, 2022	$5.5B	317	96c	34	536 bp
Mar 31, 2022	n/a	30	n/a	0	n/a
Dec 31, 2021	$4.6B	339	104c	26	558 bp
Jan 20, 2021	n/a	1	n/a	0	n/a
Dec 31, 2020	n/a	38	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.

Sponsors financed

No borrower on this schedule has a sponsor attribution yet.

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.

What changed

New borrower on a BDC scheduleSep 30, 2023
W•• H••••••• I•• C•••• C••••••• first appears in a BDC schedule (2 lenders)
New borrower on a BDC scheduleSep 30, 2023
N•• A••••••••• C•••• M•••• first appears in a BDC schedule (1 lender)
New borrower on a BDC scheduleSep 30, 2023
I•• H•••••• C•••• S••••••• first appears in a BDC schedule (1 lender)
New borrower on a BDC scheduleSep 30, 2023
A••••• G•••• C•••••••• C•••• P•••• • first appears in a BDC schedule (1 lender)
New lender joined a facilitySep 30, 2023
F••••••• B•• L•••••• C••• joins A••••• L•••••••• L•• other (unknown) held by 2 other BDCs
New borrower on a BDC scheduleSep 30, 2023
W•• P•••••••• C••• first appears in a BDC schedule (1 lender)
New lender joined a facilitySep 30, 2023
F••••••• B•• L•••••• C••• joins O•••• P•••••••• L•• other (unknown) held by 3 other BDCs
New lender joined a facilitySep 30, 2023
F••••••• B•• L•••••• C••• joins R••••••••• H•••••• C••• other (unknown) held by 1 other BDC
Marked down (one lender)Sep 30, 2023
F••••••• B•• L•••••• C•••: fair value markdown in A•••• H••••••• C••• (97 to 79 cents on cost)
Marked down (one lender)Sep 30, 2023
F••••••• B•• L•••••• C•••: fair value markdown in G•••••• M••••••• I•• (93 to 71 cents on cost)
Marked down (one lender)Sep 30, 2023
F••••••• B•• L•••••• C•••: fair value markdown in N•••••• A•••••••• (89 to 68 cents on cost)
Marked down (one lender)Sep 30, 2023
F••••••• B•• L•••••• C•••: fair value markdown in K•••••••• I•• (261 to 60 cents on cost)
Marked down (one lender)Sep 30, 2023
F••••••• B•• L•••••• C•••: fair value markdown in W••••••••• (46 to 35 cents on cost)
PIK interest increasedSep 30, 2023
F••••••• B•• L•••••• C•••: pik increased in T•• D•••••• N••••••• L•• (11.16% to 13.50%)
Spread increasedSep 30, 2023
F••••••• B•• L•••••• C•••: spread increased in H•••••• C••• B••••• I•• (6.50% to 7.50%)
Spread increasedSep 30, 2023
F••••••• B•• L•••••• C•••: spread increased in A•••••• U• H••••• 1• L•• (5.50% to 7.32%)
Spread increasedSep 30, 2023
F••••••• B•• L•••••• C•••: spread increased in A••••••• R••• S••• C••••••• L•• (4.00% to 7.25%)
Spread increasedSep 30, 2023
F••••••• B•• L•••••• C•••: spread increased in S••••• E••••••••• L•• (4.00% to 6.75%)
Spread increasedSep 30, 2023
F••••••• B•• L•••••• C•••: spread increased in T•••• H•••• I•• (3.75% to 5.00%)
PIK interest appearsSep 30, 2023
F••••••• B•• L•••••• C•••: pik added in H•••••• C••• B••••• I•• (0.00% to 5.00%)

Every position change, including routine ones

Largest facilities held, with co-lenders

Schedule of investments at Sep 30, 2023

606 positions

Borrower	Instrument	Principal	Fair value
W•••••••••, Ltd. 2014-1A Side Letter, Collateralized Securities	unstated lien unstated	n/a	n/a
S•••• C•••••• F••••••• L••	subordinated debt unsecured or subordinated	n/a	n/a
R••••••••• Oda, LLC	revolver first lien	n/a	n/a
M••••• E••••••••• G••••• I••.	revolver first lien	n/a	n/a
A••• G••••• P••••••••• L••	revolver first lien	n/a	n/a
C••••• D• S••••• H•••••• U•• N••••• I••.	equity equity	n/a	n/a

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Registration

Fiscal year end: 1231reported
Incorporated: MDreported
On the SEC BDC report: 2012 to 2023reported
Filings listed: 8reported10-Q and 10-K since 2022
Former names: Business Development Corp of Americareported
Latest schedule: 0001490927-23-000017reported