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M••••• C•••••• C•••
Business development companymanaged by M• A•••••••Non-tradedLatest schedule Dec 31, 2025· CHICAGO, IL
A non-traded business development company, managed by M• A•••••••, holding $335M across 90 borrowers at Dec 31, 2025.
Composed from this BDC's filings and its latest schedule of investments.
As of · the latest schedule of investments read for this BDC
- Fair value
- $335M
- Borrowers
- 90
- Mark on cost
- 91.2¢
- First lien
- 81%
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
As of · the latest schedule of investments read for this BDC
Nothing material in the last 200 days. Last change: 31 Dec 2025, 10 borrowers on non-accrual, $21.2M principal; the largest is M• R••••••••• I•• L•• ($8.1M).
Every headline figure, and the identifiersCIK 1512931 · file 814-00866ShowHide
Fair value
$335M
as of Dec 31, 2025
Principal held
$354M
debt pieces, the filer's figure
Cost
$373M
91c on cost, debt pieces
Unfunded
$20.5M
commitments not yet drawn
Positions
359
90 borrowers
First lien
81%
90% debt by fair value
Quarters on the tape
19
since Dec 31, 2020
Facilities held
0
0 sponsors financed
Portfolio through time
Fair value by quarter end$413M as of Dec 31, 2025
Dec 31, 2020$149M then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Dec 31, 2025 | $413M | 90 | 91c | 75 | 678 bp |
| Sep 30, 2025 | $466M | 80 | 89c | 75 | 683 bp |
| Jun 30, 2025 | $474M | 81 | 90c | 67 | 682 bp |
| Mar 31, 2025 | $546M | 89 | 92c | 72 | 683 bp |
All 19 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Dec 31, 2024 | $1.8B | 97 | 93c | 252 | 680 bp |
| Sep 30, 2024 | $712M | 97 | 95c | 83 | 666 bp |
| Jun 30, 2024 | $633M | 96 | 96c | 77 | 693 bp |
| Mar 31, 2024 | $647M | 100 | 96c | 72 | 692 bp |
| Dec 31, 2023 | $922M | 99 | 96c | 97 | 701 bp |
| Sep 30, 2023 | $665M | 126 | 97c | 66 | 713 bp |
| Jun 30, 2023 | $768M | 160 | 98c | 66 | 686 bp |
| Mar 31, 2023 | $719M | 106 | 98c | 85 | 749 bp |
| Dec 31, 2022 | $1.5B | 187 | 96c | 163 | 699 bp |
| Sep 30, 2022 | $545M | 101 | 99c | 60 | 724 bp |
| Jun 30, 2022 | $129M | 12 | n/a | 0 | n/a |
| Mar 31, 2022 | $132M | 12 | n/a | 0 | n/a |
| Dec 31, 2021 | $856M | 131 | 101c | 67 | 695 bp |
| Sep 30, 2021 | $137M | 16 | n/a | 0 | n/a |
| Dec 31, 2020 | $149M | 13 | n/a | 0 | n/a |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- Placed on non-accrualDec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Marked down (one lender)Dec 31, 2025
Full timeline · 20 eventsShow fewer
- Marked down (one lender)Dec 31, 2025
- Spread increasedDec 31, 2025
- PIK interest appearsDec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Lender left a facilitySep 30, 2025
- Placed on non-accrualSep 30, 2025
- Marked down (one lender)Sep 30, 2025
- Marked down (one lender)Sep 30, 2025
- Marked down (one lender)Sep 30, 2025
- Marked down (one lender)Sep 30, 2025
- Marked down (one lender)Sep 30, 2025
- PIK interest appearsSep 30, 2025
- PIK interest appearsSep 30, 2025
- PIK interest increasedSep 30, 2025
Schedule of investments at Jun 30, 2023
439 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| A••••• H•••••• I•• L•• | equity equity | Not disclosed | $27,000 | Dec 21, 2032 | |
| P•••••• H••••••••• | revolver first lien | Not disclosed | $24,000 | SOFR+585 bp | Jan 19, 2027 |
| J• B• W• A• F•••••• L• L• C• | equity equity | Not disclosed | $21,000 | ||
| W• M••••• R• D••• L•• | delayed draw term loan first lien | $67,000 | $21,000 100c | PIK 10.00% | Feb 4, 2028 |
| A••••••• C•••••••• H••••• I••• | term loan first lien | Not disclosed | $17,000 | ||
| A••••••• C•••••••• H••••• I••• | term loan first lien | $23,000 | $17,000 74c | SOFR+811 bp PIK 13.22% | Dec 31, 2026 |
| A••••••• C•••••••• H••••• I••• | term loan first lien | Not disclosed | $17,000 | ||
| K•• W••• H••••••• L•• E••••• S••••••••• | preferred equity equity | Not disclosed | $11,000 100c | ||
| P• K• S• H•••••••• L• L• C• E••••• S••••••••• | preferred equity equity | Not disclosed | $6,000 600c | PIK 12.00% | |
| T•• K•••• C••••••• L• L• C• | term loan first lien | $1,000 | $1,000 100c | SOFR+750 bp PIK 12.65% | Apr 3, 2026 |
| A••••••• C•••••••• H••••• I••• | equity equity | Not disclosed | $0 | ||
| M•••• H•••••••• I••• | equity equity | Not disclosed | $0 | ||
| A••••• M••••• L•• | revolver first lien | Not disclosed | $0 | ||
| A••••• M••••• L•• | unstated lien unstated | Not disclosed | $0 | ||
| A••••••• C•••••••• H••••• I••• | revolver first lien | Not disclosed | $0 | ||
| N••• C••••••••• L•• | equity equity | Not disclosed | $0 | ||
| C• P••••• H•••••••• L••• | unstated lien unstated | Not disclosed | $0 | ||
| C• P••••• H•••••••• L••• | equity equity | Not disclosed | $0 | ||
| M•••• H•••••••• I••• | revolver first lien | Not disclosed | Not disclosed | ||
| D••••••••• M••••• I••• | delayed draw term loan first lien | $500,000 | Not disclosed | SOFR+725 bp | Jun 21, 2028 |
| L• X• J• T• I••••••••• H•••••••• I••• | revolver first lien | $833,000 | Not disclosed | SOFR+600 bp | Mar 11, 2025 |
| M• V• R••••••••• I• I• L• L• C• E••••• S••••••••• | warrants equity | Not disclosed | Not disclosed n/a | Jul 28, 2031 | |
| N••••• N••••••• I••• | term loan first lien | Not disclosed | Not disclosed | S+1150 bp PIK 4.00% | Mar 31, 2024 |
| T•••••• M••••••• S••••••• I•• | revolver first lien | Not disclosed | Not disclosed | S+550 bp | Feb 26, 2027 |
| T••••••••• C••• L•• | term loan first lien | Not disclosed | Not disclosed | S+625 bp | Dec 14, 2026 |
| V•• E••••••••• I••• | revolver first lien | $458,000 | Not disclosed | SOFR+710 bp | Jan 12, 2028 |
| A••••••• C•••••••• H••••• I••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| D••••• A••••••••• I••• | revolver first lien | $596,000 | Not disclosed | SOFR+660 bp | Jun 30, 2026 |
| H••••••• M••••••••• C•••••• | revolver first lien | $691,000 | Not disclosed | SOFR+760 bp | Dec 31, 2024 |
| M•• Q•••• E••••••••• L• L• C• | term loan first lien | Not disclosed | Not disclosed | S+551 bp | Jan 7, 2028 |
| M••••••• A••••••••• I••• | term loan first lien | Not disclosed | Not disclosed | S+475 bp | Mar 27, 2026 |
| V••••• P••••••••• L•• | revolver first lien | $333,000 | Not disclosed | SOFR+700 bp | Jun 8, 2029 |
| S•• H•••••• L••• J••••• | term loan unsecured or subordinated | Not disclosed | Not disclosed | ||
| M•••••••• I••• | revolver first lien | $667,000 | Not disclosed | //www.monroebdc.com/20230630#London Interbank Offered Rate+700 bp | Feb 14, 2025 |
| N•••• H•••• U• S• H• C• A••••••••• I••• | term loan first lien | $1.1M | Not disclosed | SOFR+650 bp | Oct 30, 2025 |
| P•••••• C••••••• H•••••• C•••••• L•• ••• P•••••• S•••••••• G••••• | term loan first lien | Not disclosed | Not disclosed | S+700 bp | Jul 31, 2023 |
| T••• L• L• C• | revolver first lien | $769,000 | Not disclosed | Prime+500 bp | Mar 28, 2025 |
| A••••••• C•••••••• H••••• I•••• E••••• S••••••••• | equity equity | $0 | Not disclosed | ||
| A••••••••• A••• W•••• I••••••••• L• L• C• | revolver first lien | Not disclosed | Not disclosed | S+490 bp | Dec 1, 2027 |
| O••••• I••• | term loan first lien | Not disclosed | Not disclosed | S+543 bp | Jun 22, 2026 |
| P••••••• A••••••••• L• L• C• | term loan first lien | Not disclosed | Not disclosed | S+511 bp | Mar 17, 2025 |
| T• E• A• M• P••••• C••••••• L• L• C• | term loan first lien | Not disclosed | Not disclosed | S+500 bp | Dec 17, 2027 |
| M•• B•••• L•• | delayed draw term loan first lien | $317,000 | Not disclosed | SOFR+650 bp | Jun 29, 2029 |
| N• P• P•••••• C•••••••• M•••• I••• | delayed draw term loan first lien | $778,000 | Not disclosed | SOFR+565 bp | Oct 4, 2028 |
| A••••••• C•••••••• H••••• I••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| A••••••• I••• | revolver first lien | $400,000 | Not disclosed | S+725 bp | Oct 19, 2028 |
| S•••• H••••••• I••• | revolver first lien | $205,000 | Not disclosed | SOFR+625 bp | Jun 15, 2029 |
| T•••••• M••••••• S••••••• I•• | term loan first lien | Not disclosed | Not disclosed | S+550 bp | Feb 26, 2027 |
| M•••• H•••••••• I••• | equity equity | Not disclosed | Not disclosed | ||
| B•••••••• L•• | delayed draw term loan first lien | $1.7M | Not disclosed | //www.monroebdc.com/20230630#London Interbank Offered Rate+625 bp | Sep 8, 2027 |
| B••••••• I••••••••• L•••••• | term loan first lien | Not disclosed | Not disclosed | S+525 bp | Nov 5, 2025 |
| C••••••••• L• L• C• | revolver first lien | $652,000 | Not disclosed | SOFR+650 bp | Dec 31, 2027 |
| H•••••• B•••••• H•••••••• I••• | term loan first lien | Not disclosed | Not disclosed | Dec 13, 2024 | |
| A••••••• C•••••••• H••••• I••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| A••••••• C•••••••• H••••• I••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| A••••••• C•••••••• H••••• I••• | revolver first lien | Not disclosed | Not disclosed | ||
| R••••••• H••••• G••••• L• L• C• E••••• S••••••••• | equity equity | Not disclosed | Not disclosed | ||
| A••••• M••••• L•• | revolver first lien | Not disclosed | Not disclosed | ||
| F•••••• D••••• G•••• H•••••••• L•• | equity equity | Not disclosed | Not disclosed | ||
| A••••••• C••••••••• | term loan first lien | Not disclosed | Not disclosed | S+540 bp | Jun 24, 2024 |
| D• S• P•••••• I••• | term loan first lien | Not disclosed | Not disclosed | S+575 bp | Dec 8, 2028 |
| D••••••••• P•••••••• L•• | revolver first lien | $522,000 | Not disclosed | SOFR+700 bp | Sep 1, 2028 |
| N••••• N••••••• I••• | term loan first lien | Not disclosed | Not disclosed | S+1150 bp PIK 4.00% | Mar 31, 2024 |
| O••••• I••• | term loan first lien | Not disclosed | Not disclosed | S+543 bp | Jun 22, 2026 |
| S••••• O•••••••• H••••••• I•• L•• | revolver first lien | $519,000 | Not disclosed | SOFR+585 bp PIK 11.05% | Nov 3, 2027 |
| T••••• L••• C••• L• L• C• | term loan first lien | Not disclosed | Not disclosed | S+625 bp | Dec 14, 2026 |
| A••••• H•••••• I•• L•• | revolver first lien | $133,000 | Not disclosed | SOFR+1026 bp PIK 1.00% | Dec 21, 2027 |
| A••••• Y•••• • U• S• A• I••• | term loan first lien | Not disclosed | Not disclosed | S+676 bp | Jan 30, 2026 |
| M•• Q•••• E••••••••• L• L• C• | revolver first lien | Not disclosed | Not disclosed | S+551 bp | Jan 7, 2028 |
| N• P• P•••••• C•••••••• M•••• I••• | revolver first lien | $438,000 | Not disclosed | SOFR+565 bp | Oct 4, 2028 |
| P• V• H• C• H•••••• C••• | term loan first lien | Not disclosed | Not disclosed | S+490 bp | Feb 17, 2027 |
| S•••• B•• S••••••• L• L• C• | revolver first lien | $444,000 | Not disclosed | SOFR+675 bp | Jul 8, 2027 |
| T•••• C••••••• I••• | revolver first lien | $429,000 | Not disclosed | SOFR+675 bp | Feb 16, 2028 |
| I••••••••• T•••••• G••••• I••• | term loan first lien | Not disclosed | Not disclosed | S+500 bp | May 1, 2024 |
| K••••••• G••• P•••••••• L•• | delayed draw term loan first lien | $600,000 | Not disclosed | SOFR+615 bp | Dec 11, 2028 |
| T•• C••• • B••••••• G•••• L• L• C• | term loan first lien | Not disclosed | Not disclosed | S+575 bp | Oct 20, 2025 |
| N• E• C• B• C••••••••• L• L• C• | equity equity | $0 | Not disclosed n/a | ||
| N••• C••••••••• L•• | equity equity | Not disclosed | Not disclosed | ||
| N••• C••••••••• L•• | revolver first lien | Not disclosed | Not disclosed | ||
| N••••• N••••••• I••• E••••• S••••••••• | equity equity | Not disclosed | Not disclosed n/a | ||
| N••••• N••••••• I••• | term loan first lien | Not disclosed | Not disclosed | S+1150 bp PIK 4.00% | Mar 31, 2024 |
| R••••••••• O• D• A• L• L• C• | revolver first lien | $180,000 | Not disclosed | SOFR+660 bp | May 12, 2027 |
| C•••••••• T••••••••• I••• | revolver first lien | $500,000 | Not disclosed | SOFR+725 bp | Feb 28, 2025 |
| A••••••••• A••• W•••• I••••••••• L• L• C• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+490 bp | Dec 1, 2027 |
| R••••••• H••••• G••••• L• L• C• | revolver first lien | $316,000 | Not disclosed | SOFR+600 bp | Nov 20, 2025 |
| V•••••• P••••••• L•• | revolver first lien | $1.1M | Not disclosed | SOFR+950 bp | Dec 29, 2023 |
| A••••••• C•••••••• H••••• I••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| P••••••• I•••• E••••• S••••••••• | equity equity | Not disclosed | Not disclosed | ||
| S•• H•••••• L•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| S••••• A••••• S•• H••••••• I• L•• | revolver first lien | Not disclosed | Not disclosed | ||
| D••••••••• M••••• I••• | revolver first lien | $103,000 | Not disclosed | SOFR+725 bp | Jun 21, 2028 |
| M•• B•••• L•• | revolver first lien | $410,000 | Not disclosed | SOFR+650 bp | Jun 29, 2029 |
| P• H• B••••• H••••••• I• I• I• I• N• C• | term loan first lien | Not disclosed | Not disclosed | S+500 bp | Sep 26, 2025 |
| P••••••• L•• | delayed draw term loan first lien | $768,000 | Not disclosed | SOFR+710 bp | Jun 8, 2029 |
| P••••••• L•• | revolver first lien | $576,000 | Not disclosed | SOFR+710 bp | Jun 8, 2029 |
| V••••• P••••••••• L•• | delayed draw term loan first lien | $667,000 | Not disclosed | SOFR+700 bp | Jun 8, 2029 |
| C• P••••• H•••••••• L••• ••• C••••• H•••••••• L•••• E••••• S••••••••• | equity equity | Not disclosed | Not disclosed | ||
| R••••• B•••• I• N• C• | term loan first lien | Not disclosed | Not disclosed | S+550 bp | Oct 23, 2028 |
| W•••• P•••• I••• | term loan first lien | Not disclosed | Not disclosed | S+450 bp | May 11, 2028 |
| N•••••• B•••••••• L• L• C• E••••• S••••••••• | equity equity | Not disclosed | Not disclosed n/a |
Registration
- Fiscal year end
- 1231reported
- Incorporated
- NYreported
- On the SEC BDC report
- 2012 to 2025reported
- Filings listed
- 17reported10-Q and 10-K since 2022
- Latest schedule
- 0001512931-26-000011reported