DFX Intelligence
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A• P•••••• C••••• I•••••••• C•••
A non-traded business development company, managed by A• P•••••• C••••• I•••••••• L••, holding $1.9B across 216 borrowers at Jun 30, 2026.
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
- $1.9B
- Borrowers
- 216
- Mark on cost
- 97.3¢
- First lien
- 97%
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
What matters now
- $10.4Mon non-accrual, 2 borrowers
2 borrowers on non-accrual, $10.4M principal; the largest is S•••••••• C••• H•••••••• L•• ($6.57M).
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•••••••• C••• H•••••••• L•• → - $6.57Mnewly on non-accrual
1 borrower newly placed on non-accrual in Q2 2026, $6.57M principal: S•••••••• C••• H•••••••• L•• ($6.57M).
Q2 2026 · The newest credit problems in the book.
- 38 below 80¢$65.3M principal
38 positions across 21 borrowers marked below 80¢ on cost, $65.3M principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026 - 38 → 66loans paying in kind
Loans paying in kind rose from 38 to 66 positions in the quarter to Jun 30, 2026.
Q2 2026 · Borrowers paying interest in more debt rather than cash is an early sign of strain.
Every headline figure, and the identifiersCIK 1634452 · file 814-01196ShowHide
Fair value
$1.9B
as of Jun 30, 2026
Principal held
$2.0B
debt pieces, the filer's figure
Cost
$2.0B
97c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
593
216 borrowers
First lien
97%
97% debt by fair value
Quarters on the tape
13
since Dec 31, 2022
Facilities held
476
34 sponsors financed
Portfolio through time
Fair value by quarter end$1.9B as of Jun 30, 2026
Dec 31, 2022$6.7B then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $1.9B | 216 | 97c | 66 | 505 bp |
| Mar 31, 2026 | $1.9B | 213 | 98c | 38 | 511 bp |
| Dec 31, 2025 | $3.8B | 213 | 99c | 78 | 514 bp |
| Sep 30, 2025 | $1.8B | 210 | 99c | 41 | 513 bp |
All 13 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $1.7B | 209 | 99c | 43 | 521 bp |
| Mar 31, 2025 | $6.9B | 209 | 99c | 45 | 526 bp |
| Dec 31, 2024 | $8.7B | 207 | 99c | 71 | 542 bp |
| Sep 30, 2024 | $6.4B | 201 | 99c | 60 | 537 bp |
| Jun 30, 2024 | $4.6B | 195 | 99c | 59 | 557 bp |
| Mar 31, 2024 | $4.3B | 195 | 99c | 57 | 570 bp |
| Dec 31, 2023 | $13B | 189 | 98c | 124 | 565 bp |
| Sep 30, 2023 | $3.8B | 183 | 98c | 65 | 563 bp |
| Dec 31, 2022 | $6.7B | 184 | 98c | 70 | 562 bp |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New lender joined a facilityJun 30, 2026
- Placed on non-accrualJun 30, 2026
- Marked down (one lender)Jun 30, 2026
Full timeline · 20 eventsShow fewer
- 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
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
Largest facilities held, with co-lenders
- S••••••• G•••• H•••••••• I•• first lien term loan8 BDCs hold it · matures Jul 2, 2029 · possible sponsor W•••••• P••••• L••$28.6M 100c
- G••••••••• S•••••••• I•• first lien term loan4 BDCs hold it · matures Sep 1, 2028$26.9M 99c
- D••••••• I•• first lien term loan2 BDCs hold it · matures Mar 11, 2030$25.2M 100c
- T•••••• I• H•••••••• L•• first lien delayed draw term loan2 BDCs hold it · matures Aug 31, 2029$25.0M 100c
- V•••• P••••••••• L•• first lien term loan13 BDCs hold it · matures May 24, 2028 · possible sponsor G•• E••••• H•••••••• L••$23.3M 100c
- S•••••• P•••••• L•• first lien term loan6 BDCs hold it · matures Oct 16, 2031$21.3M 94c
- R•• T•• I••••••••• H•••••••• I•• first lien term loan3 BDCs hold it · matures May 30, 2031$20.8M 100c
- G••••••••• I••••••••• I•• I•• first lien delayed draw term loan2 BDCs hold it · matures Jun 1, 2029$20.7M 101c
- S••••••• I•• first lien term loan1 BDC hold it · matures Feb 18, 2030$20.5M 101c
- P••••••••• H••••••• C••• first lien term loan2 BDCs hold it · matures Jun 21, 2030$20.2M 101c
- S••• P••••••••• I•• first lien term loan9 BDCs hold it · matures Nov 12, 2031$19.9M 98c
- L••••••••• S•••••• L•••••• first lien term loan2 BDCs hold it · matures Dec 23, 2030$19.5M 101c
Schedule of investments at Mar 31, 2024
518 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| G• T••••••• S•• L•• S••••••• & T••• Services | delayed draw term loan first lien | $0 | -$24,393 152c | S+600 bp | Jun 29, 2029 |
| A•••••• B••••• I•• S••••••• & T••• Services | revolver first lien | $0 | -$24,527 110c | S+550 bp | May 8, 2028 |
| S•••• L•••• I••• S••••••• & T••• Services | revolver first lien | $0 | -$25,636 174c | S+550 bp PIK 0.50% | Aug 16, 2027 |
| C••••• S•••••••• A••••••••• I••• H••••••••• | delayed draw term loan first lien | $0 | -$27,756 89c | S+575 bp | May 11, 2028 |
| N••••••••• L•• S••••••• & T••• Services | delayed draw term loan first lien | $0 | -$30,539 200c | S+600 bp | Mar 17, 2027 |
| D••••••• I•• S••••••• & T••• Services | revolver first lien | $0 | -$30,778 94c | S+550 bp | Mar 13, 2029 |
| C•• H••••••• L•• | revolver first lien | $0 | -$31,039 100c | S+400 bp PIK 4.75% | Mar 27, 2029 |
| W•••••••• S••••• H•••••••• L•• | delayed draw term loan first lien | $0 | -$37,246 103c | S+525 bp | Jan 17, 2030 |
| S•••••• P•••••• L•• S••••••• & T••• Services | revolver first lien | $0 | -$41,720 91c | S+650 bp | May 13, 2030 |
| V•••••••• B•••• L•• | delayed draw term loan first lien | $0 | -$42,403 100c | S+525 bp | Mar 21, 2031 |
| D••••••• I••• S••••••• & T••• Services | delayed draw term loan first lien | $0 | -$44,910 75c | S+550 bp | Mar 13, 2029 |
| L•••• H•• B•••• I•• H••••••••• | delayed draw term loan first lien | $0 | -$47,098 103c | S+625 bp | Jan 21, 2030 |
| L•••• H•• B•••• I•• H••••••••• | revolver first lien | $0 | -$47,098 103c | S+625 bp | Jan 21, 2030 |
| A•••••• I••••••••• H•••••••• I•• S••••••• & T••• Services | delayed draw term loan first lien | $0 | -$53,331 100c | S+650 bp | Mar 19, 2031 |
| S••••• D•••••• I••• | revolver first lien | $0 | -$54,099 4260c | S+425 bp PIK 3.00% | Jun 19, 2026 |
| F•••••••• O••••••••• L•• S••••••• & T••• Services | delayed draw term loan first lien | $0 | -$58,848 187c | S+700 bp | Nov 27, 2029 |
| S••••••• L•• S••••••• & T••• Services | delayed draw term loan first lien | $0 | -$64,781 389c | S+500 bp | Jun 12, 2028 |
| S••••••••• I••• S••••••• & T••• Services | revolver first lien | $0 | -$249,980 1370c | S+600 bp | Apr 5, 2028 |
Page 6 of 6Previous
Registration
- Fiscal year end
- 1231reported
- Incorporated
- NYreported
- On the SEC BDC report
- 2018 to 2026reported
- Filings listed
- 19reported10-Q and 10-K since 2022
- Former names
- AB Private Credit Corpreported
- Latest schedule
- 0001193125-26-352137reported