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.

BDC portfolio

Bain Capital Specialty Finance, Inc.

BDCBCSFCIK 1655050file 814-01175BOSTON, MAmanaged by BCSF ADVISORS, LP

Fair value

$2.4B

as of Jun 30, 2026

Principal held

$2.2B

debt pieces, the filer's figure

Cost

$2.4B

100c on cost

Unfunded

n/a

commitments not yet drawn

Positions

677

244 borrowers

First lien

63%

85% debt by fair value

Quarters on the tape

since Dec 31, 2021

Facilities held

554

32 sponsors financed

Portfolio through time

Fair value by quarter end$2.4B as of Jun 30, 2026

Dec 31, 2021$2.8B then

Quarter	Fair value	Borrowers	On cost	PIK pos.	Avg spread
Jun 30, 2026	$2.4B	244	95c	78	536 bp
Mar 31, 2026	$2.5B	244	96c	85	534 bp
Dec 31, 2025	$2.7B	234	98c	103	557 bp
Sep 30, 2025	$2.5B	222	98c	72	556 bp
Jun 30, 2025	$2.5B	208	98c	74	554 bp
Mar 31, 2025	$2.3B	197	98c	67	562 bp
Dec 31, 2024	$3.0B	207	97c	85	584 bp
Sep 30, 2024	$2.4B	186	98c	50	604 bp
Jun 30, 2024	$2.6B	175	99c	44	606 bp
Mar 31, 2024	$2.8B	175	99c	44	611 bp
Dec 31, 2023	$2.8B	163	98c	63	609 bp
Sep 30, 2023	$2.5B	170	98c	36	629 bp
Jun 30, 2023	$2.5B	171	96c	31	618 bp
Mar 31, 2023	$2.5B	167	98c	28	619 bp
Dec 31, 2022	$5.0B	187	96c	56	617 bp
Sep 30, 2022	$2.3B	157	96c	6	618 bp
Dec 31, 2021	$2.8B	141	99c	17	577 bp

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

Freeman Spogli & Co. carried
4 borrowers $50.6M
The Sterling Group, L.P. carried
3 borrowers $31.3M
Greenbriar Equity Group carried
2 borrowers $107M
Silver Oak Services Partners,llc carried
2 borrowers $84.3M
Wcas Management Corporation carried
2 borrowers $44.3M
Court Square Capital carried
2 borrowers $37.1M
Marlin Equity Partners carried
2 borrowers $11.3M
ZMC Advisors, L.P. carried
2 borrowers $8.7M
Quad-C Management, Inc. carried
2 borrowers $761,000
Riata Capital Group, LLC carried
1 borrower $60.3M
Windjammer Capital Investors carried
1 borrower $21.2M
Activant Capital Group LLC carried
1 borrower $20.0M
Platinum Equity Advisors, LLC carried
1 borrower $17.8M
WP Global Partners LLC carried
1 borrower $13.9M
Vista Equity Partners Management, LLC inferred
1 borrower $13.3M

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

Repeat sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances another Silver Oak Services Partners,llc borrower (2 borrowers, 6 facilities held)
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first Riata Capital Group, LLC borrower (1 borrower, 2 facilities held)
Repeat sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances another Freeman Spogli & Co. borrower (4 borrowers, 9 facilities held)
Repeat sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances another Wcas Management Corporation borrower (2 borrowers, 5 facilities held)
New borrower on a BDC scheduleJun 30, 2026
Goldman Sachs Financial Square Government Fund Institutional Share Class [Member] first appears in a BDC schedule (1 lender)
Repeat sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances another The Sterling Group, L.P. borrower (3 borrowers, 6 facilities held)
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first Windjammer Capital Investors borrower (1 borrower, 3 facilities held)
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first Activant Capital Group LLC borrower (1 borrower, 2 facilities held)
New lender joined a facilityJun 30, 2026
Bain Capital Specialty Finance, Inc. joins Accelevation LLC term loan (first lien) held by 9 other BDCs
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first Platinum Equity Advisors, LLC borrower (1 borrower, 2 facilities held)
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first WP Global Partners LLC borrower (1 borrower, 3 facilities held)
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first Vista Equity Partners Management, LLC borrower (1 borrower, 2 facilities held)
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first Upper90 borrower (1 borrower, 3 facilities held)
New borrower on a BDC scheduleJun 30, 2026
Goldman Sachs US Treasury Liquid Reserves Fund [Member] first appears in a BDC schedule (1 lender)
Repeat sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances another Marlin Equity Partners borrower (2 borrowers, 4 facilities held)
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first Access Holdings Management Company LLC borrower (1 borrower, 1 facility held)
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first JLL Partners LLC borrower (1 borrower, 3 facilities held)
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first Excellere Partners borrower (1 borrower, 2 facilities held)
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first Frazier Healthcare Partners borrower (1 borrower, 2 facilities held)
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first Lightspeed Faction borrower (1 borrower, 3 facilities held)

Every position change, including routine ones

Largest facilities held, with co-lenders

Vehicles International unsecured or subordinated term loan
1 BDC hold it · matures Feb 22, 2028
$254M 88c
Vehicles Bain Capital unsecured or subordinated term loan
2 BDCs hold it · matures Dec 24, 2036
$179M 90c
SauceCo HoldCo, LLC first lien term loan
2 BDCs hold it · matures May 13, 2030
$71.0M 103c
AEG Vision first lien delayed draw term loan
2 BDCs hold it · matures Mar 27, 2027 · Riata Capital Group, LLC
$59.9M 100c
American Trailer Rental Group, LLC unsecured or subordinated subordinated debt
1 BDC hold it · matures Dec 1, 2028
$49.9M 89c
Goldman Sachs Financial Square Government Fund Institutional Share Class [Member] other
1 BDC hold it
$39.5M n/a
DTIQ first lien term loan
2 BDCs hold it · matures Sep 30, 2029
$33.2M 99c
Applitools, Inc first lien term loan
4 BDCs hold it · matures May 25, 2029
$31.9M 84c
Efficient Collaborative Retail Marketing Company, LLC first lien term loan
2 BDCs hold it · matures Sep 30, 2026
$30.2M 102c
Taoglas first lien term loan
2 BDCs hold it · matures Feb 28, 2029
$29.3M 101c
Solaray, LLC first lien term loan
2 BDCs hold it · matures Mar 27, 2029
$29.3M 91c
Titan Cloud Software, Inc first lien term loan
2 BDCs hold it · matures Sep 7, 2029
$27.6M 100c

Schedule of investments at Jun 30, 2026

677 positions

Borrower	Instrument	Principal	Fair value	Rate	Maturity
Vehicles International	term loan unsecured or subordinated	$191M	$191M 100c	SOFR+800 bp	Feb 22, 2028
Vehicles Bain Capital	term loan unsecured or subordinated	$179M	$164M 92c	10.00%	Dec 27, 2033
FIRE: Finance Legacy Corporate Lending HoldCo, LLC	preferred equity equity	$79,000	$84.0M 116c
SauceCo HoldCo, LLC Beverage, Food & Tobacco	term loan first lien	$71.0M	$71.0M 103c	SOFR+575 bp	May 13, 2030
Lightning Holdings B, LLC Transportation: Cargo	equity equity	$27.1M	$53.0M 194c
AEG Vision Healthcare & Pharmaceuticals	delayed draw term loan first lien	$41.4M	$41.4M 101c	SOFR+590 bp	Mar 27, 2027
DTIQ Services: Business	term loan first lien	$33.2M	$32.5M 99c	SOFR+750 bp	Sep 30, 2029
Vehicles International	term loan unsecured or subordinated	$63.6M	$30.7M 51c
Titan Cloud Software, Inc Environmental Industries	term loan first lien	$27.6M	$27.6M 100c	SOFR+585 bp	Sep 7, 2029
iBanFirst Services: Business	preferred equity equity	$7.1M	$27.6M 339c
Solaray, LLC Consumer Goods: Non-Durable	term loan first lien	$29.3M	$26.7M 91c	SOFR+485 bp PIK 2.00%	Mar 27, 2029
Applitools High Tech Industries	term loan first lien	$31.9M	$26.6M 84c	9.98% PIK 6.25%	May 25, 2029
MZR Buyer, LLC Services: Consumer	term loan first lien	$25.6M	$22.0M 88c	SOFR+690 bp PIK 0.50%	Dec 22, 2028
American Trailer Rental Group Automotive	subordinated debt unsecured or subordinated	$24.2M	$21.5M 89c	14.25% PIK 14.25%	Dec 1, 2028
INW Manufacturing, LLC Beverage, Food & Tobacco	term loan first lien	$20.8M	$20.5M 99c	SOFR+575 bp	Jan 23, 2031
Superna Inc. High Tech Industries	term loan first lien	$19.6M	$19.6M 100c	SOFR+650 bp	Mar 6, 2028
NearMap High Tech Industries	term loan first lien	$19.2M	$19.2M 100c	SOFR+475 bp	Dec 10, 2029
Ansett Aviation Training Aerospace & Defense	equity equity	$5.1M	$19.1M 497c
Taoglas Telecommunications	term loan first lien	$18.2M	$18.2M 101c	SOFR+625 bp	Feb 28, 2029
Accelevation LLC Capital Equipment	term loan first lien	$18.5M	$18.2M 100c	SOFR+525 bp	Jan 2, 2031
American Trailer Rental Group Automotive	subordinated debt unsecured or subordinated	$19.4M	$17.2M 89c	14.25% PIK 14.25%	Dec 1, 2028
ImageTrend Services: Business	term loan first lien	$16.9M	$16.9M 101c	SOFR+500 bp	Jan 31, 2029
RetailNext High Tech Industries	term loan first lien	$17.0M	$16.8M 100c	SOFR+700 bp	Dec 5, 2030
Efficient Collaborative Retail Marketing Company, LLC Media: Diversified & Production	term loan first lien	$18.3M	$15.7M 103c	12.46% PIK 8.76%	Sep 30, 2026
Morrow Sodali Services: Business	term loan first lien	$15.0M	$15.0M 100c	SOFR+500 bp	Oct 25, 2029
SensorTower High Tech Industries	equity equity	$156,000	$14.9M 619c
Shennong Buyer, Inc. Beverage, Food & Tobacco	term loan first lien	$14.8M	$14.7M 100c	SOFR+500 bp	May 6, 2033
V Global Holdings LLC Chemicals, Plastics & Rubber	term loan first lien	$15.7M	$14.7M 96c	SOFR+590 bp	Dec 22, 2027
Apollo Intelligence Healthcare & Pharmaceuticals	term loan first lien	$14.8M	$14.7M 99c	SOFR+575 bp	Jun 1, 2028
AXH Air Coolers Capital Equipment	preferred equity equity	$3.4M	$14.4M 1304c
Humic Acquisition Holdings, LLC Environmental Industries	term loan first lien	$14.4M	$14.2M 99c	SOFR+575 bp	Oct 21, 2031
Service Master Construction & Building	revolver first lien	$18.5M	$13.9M 76c	SOFR+701 bp	Aug 16, 2027
AP Plastics Group, LLC Chemicals, Plastics & Rubber	term loan first lien	$13.5M	$13.5M 101c	SOFR+485 bp	Aug 12, 2030
Saturn Purchaser Corp. Aerospace & Defense	term loan first lien	$13.3M	$13.3M 101c	SOFR+485 bp	Jul 22, 2030
Mach Acquisition, LLC Aerospace & Defense	term loan first lien	$13.2M	$13.2M 100c	SOFR+715 bp	Apr 19, 2027
Forward Slope Aerospace & Defense	delayed draw term loan first lien	$13.2M	$13.2M 102c	SOFR+560 bp	Aug 22, 2029
STAX Engineering, LLC Environmental Industries	term loan first lien	$13.0M	$12.9M 100c	SOFR+650 bp	Jun 20, 2033
BTX Precision Aerospace & Defense	delayed draw term loan first lien	$12.9M	$12.9M 100c	SOFR+500 bp	Jul 25, 2030
TLC Purchaser, Inc Consumer Goods: Durable	term loan first lien	$13.0M	$12.4M 96c	SOFR+576 bp	Oct 11, 2027
Solaray, LLC Consumer Goods: Non-Durable	delayed draw term loan first lien	$13.5M	$12.3M 91c	SOFR+485 bp PIK 2.00%	Mar 27, 2029
Titan Cloud Software, Inc Environmental Industries	delayed draw term loan first lien	$12.3M	$12.3M 100c	SOFR+585 bp	Sep 7, 2029
Gills Point S Automotive	term loan first lien	$12.4M	$12.1M 97c	SOFR+390 bp PIK 1.50%	May 17, 2029
Non-controlled/Non-Affiliated Investments Transportation: Co Transportation: Consumer	term loan first lien	$11.9M	$11.9M 101c	SOFR+550 bp	May 1, 2029
Intoxalock Automotive	term loan first lien	$11.8M	$11.8M 100c	SOFR+510 bp	Nov 1, 2028
RoadOne Transportation: Cargo	term loan first lien	$11.8M	$11.7M 101c	SOFR+675 bp	Dec 29, 2028
Meriplex Communications, Ltd. Telecommunications	term loan first lien	$11.9M	$11.7M 99c	SOFR+510 bp	Jul 17, 2028
Stanton Carpet Consumer Goods: Durable	term loan second lien	$11.4M	$11.4M 101c	SOFR+915 bp	Apr 1, 2028
Spotless Brands Services: Consumer	delayed draw term loan first lien	$11.3M	$11.3M 100c	SOFR+550 bp	Jul 25, 2028
Gulf Winds International Transportation: Cargo	term loan first lien	$12.0M	$11.1M 94c	SOFR+600 bp PIK 1.00%	Dec 16, 2028
Ergotron Acquisition LLC Capital Equipment	term loan first lien	$10.8M	$10.8M 101c	SOFR+525 bp	Jul 6, 2028
Meteor UK Bidco Limited Environmental Industries	term loan first lien	$8.1M	$10.8M 100c	//www.baincapital.com/20260630#Sterling Overnight Index Average+500 bp	May 14, 2032
Solaray, LLC Consumer Goods: Non-Durable	revolver first lien	$10.6M	$10.6M 100c	SOFR+560 bp	Mar 27, 2029
EHE Health Healthcare & Pharmaceuticals	term loan first lien	$10.7M	$10.6M 100c	SOFR+550 bp	Aug 7, 2030
Caregiver Healthcare & Pharmaceuticals	subordinated debt unsecured or subordinated	$10.7M	$10.5M 99c	16.50% PIK 16.50%	Jan 1, 2030
HG Insights, Inc. High Tech Industries	term loan first lien	$10.6M	$10.4M 100c	SOFR+750 bp	Jun 16, 2031
Efficient Collaborative Retail Marketing Company, LLC Media: Diversified & Production	term loan first lien	$11.9M	$10.2M 101c	11.99% PIK 8.26%	Sep 30, 2026
AEG Vision Healthcare & Pharmaceuticals	delayed draw term loan first lien	$10.1M	$10.1M 99c	SOFR+590 bp	Mar 27, 2027
Whitcraft-Paradigm Aerospace & Defense	term loan first lien	$10.1M	$10.1M 100c	SOFR+500 bp	Feb 15, 2029
Taoglas Telecommunications	term loan first lien	$9.8M	$9.8M 101c	SOFR+625 bp	Feb 28, 2029
RoC Skincare Consumer Goods: Non-Durable	term loan first lien	$9.8M	$9.8M 101c	SOFR+525 bp	Feb 21, 2031
WhiteWater Express Services: Consumer	subordinated debt unsecured or subordinated	$9.8M	$9.8M 100c	14.00% PIK 14.00%	Mar 31, 2031
Beneficium Services: Business	term loan first lien	$7.5M	$9.8M 104c	//www.baincapital.com/20260630#Sterling Overnight Index Average+550 bp	Jun 28, 2031
Heads Up Technologies, Inc. Aerospace & Defense	term loan second lien	$9.7M	$9.7M 100c	SOFR+825 bp	Jul 23, 2031
Apollo Intelligence Healthcare & Pharmaceuticals	revolver first lien	$9.8M	$9.7M 99c	SOFR+575 bp	Jun 1, 2028
GSP Holdings, LLC Aerospace & Defense	term loan first lien	$10.0M	$9.5M 94c	SOFR+228 bp PIK 3.62%	Nov 6, 2026
Pyramid Global Hospitality Hotel, Gaming & Leisure	term loan first lien	$9.5M	$9.5M 101c	SOFR+525 bp	Jan 19, 2028
Non-controlled/Non-Affiliated Investments Transportation: Co Transportation: Consumer	term loan first lien	$9.3M	$9.3M 101c	SOFR+525 bp	May 1, 2029
Wasabi Technologies LLC High Tech Industries	term loan first lien	$9.5M	$9.3M 100c	SOFR+650 bp	Apr 8, 2031
AMI Services: Business	term loan first lien	$9.2M	$9.2M 101c	SOFR+500 bp	Oct 17, 2031
City BBQ Hotel, Gaming & Leisure	term loan first lien	$9.2M	$9.1M 100c	SOFR+535 bp	Sep 4, 2030
Tangent Technologies Acquisition, LLC Consumer Goods: Durable	term loan second lien	$8.9M	$8.9M 101c	SOFR+890 bp	May 30, 2028
Allbridge Services: Business	term loan first lien	$8.9M	$8.9M 101c	SOFR+550 bp	Jun 5, 2030
Chex Finer Foods, LLC Wholesale	term loan first lien	$8.9M	$8.9M 101c	SOFR+575 bp	Jun 6, 2031
Kids2, LLC Consumer Goods: Non-Durable	term loan first lien	$8.8M	$8.7M 100c	SOFR+600 bp	Apr 14, 2031
TLC Purchaser, Inc Consumer Goods: Durable	revolver first lien	$9.1M	$8.7M 95c	SOFR+576 bp	Oct 11, 2027
Zeus Fire & Security Construction & Building	delayed draw term loan first lien	$8.7M	$8.7M 100c	SOFR+500 bp	Dec 11, 2030
AXH Air Coolers Capital Equipment	delayed draw term loan first lien	$8.7M	$8.7M 100c	SOFR+550 bp	Oct 31, 2029
Awayday Hotel, Gaming & Leisure	term loan first lien	$8.6M	$8.6M 101c	SOFR+525 bp	May 6, 2032
A&R Logistics, Inc. Transportation: Cargo	term loan first lien	$13.5M	$8.6M 64c	SOFR+260 bp PIK 4.25%	Feb 3, 2028
Great Expressions Dental Center PC Healthcare & Pharmaceuticals	term loan first lien	$10.0M	$8.5M 85c	SOFR+115 bp PIK 3.00%	Sep 30, 2026
Sunmed Group Holdings, LLC Healthcare & Pharmaceuticals	term loan first lien	$8.4M	$8.4M 101c	SOFR+560 bp	Jun 16, 2028
AEG Vision Healthcare & Pharmaceuticals	delayed draw term loan first lien	$8.3M	$8.3M 99c	SOFR+590 bp	Mar 27, 2027
Lightspeed Buyer, Inc. Healthcare & Pharmaceuticals	term loan first lien	$8.3M	$8.2M 100c	SOFR+475 bp	Feb 6, 2032
BCC Jetstream Holdings Aviation (Off I), LLC Aerospace & Defense	equity equity	$11.9M	$8.1M 68c
Reconomy Environmental Industries	delayed draw term loan first lien	$6.1M	$8.0M 100c	SOFR+650 bp	Jul 12, 2029
PPT Group Capital Equipment	term loan first lien	$6.1M	$8.0M 105c	//www.baincapital.com/20260630#Sterling Overnight Index Average+550 bp	Feb 28, 2031
CorePower Yoga, LLC Services: Consumer	term loan first lien	$7.9M	$7.9M 100c	SOFR+525 bp	Apr 30, 2031
Easy Ice Services: Business	term loan first lien	$7.9M	$7.9M 101c	SOFR+540 bp	Oct 30, 2030
KAMC Holdings, Inc. Utilities: Electric	term loan first lien	$7.8M	$7.7M 99c	SOFR+525 bp	Aug 1, 2031
BTX Precision Aerospace & Defense	term loan first lien	$7.6M	$7.6M 101c	SOFR+500 bp	Jul 25, 2030
Mach Acquisition, LLC Aerospace & Defense	revolver first lien	$7.5M	$7.5M 100c	SOFR+715 bp	Apr 19, 2027
Eleven High Tech Industries	term loan first lien	$7.4M	$7.4M 101c	SOFR+825 bp	May 14, 2029
AXH Air Coolers Capital Equipment	term loan first lien	$7.4M	$7.4M 101c	SOFR+550 bp	Oct 31, 2029
CRH Healthcare Purchaser, Inc. Healthcare & Pharmaceuticals	term loan first lien	$7.3M	$7.3M 100c	SOFR+525 bp	Sep 17, 2031
Humic Acquisition Holdings, LLC Environmental Industries	delayed draw term loan first lien	$7.3M	$7.2M 99c	SOFR+575 bp	Oct 21, 2031
Plaskolite PPC Intermediate II LLC Chemicals, Plastics & Rubber	term loan first lien	$7.3M	$7.2M 100c	SOFR+400 bp PIK 4.00%	May 9, 2030
Chartbeat High Tech Industries	subordinated debt unsecured or subordinated	$7.4M	$7.1M 98c	16.00% PIK 16.00%	Oct 4, 2030
Gills Point S Automotive	delayed draw term loan first lien	$7.3M	$7.1M 97c	SOFR+400 bp PIK 1.50%	May 17, 2029
Meriplex Communications, Ltd. Telecommunications	delayed draw term loan first lien	$7.1M	$6.9M 99c	SOFR+510 bp	Jul 17, 2028
Duraco Chemicals, Plastics & Rubber	term loan first lien	$7.3M	$6.9M 96c	SOFR+650 bp	Jun 6, 2029

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Registration

Fiscal year end: 1231reported
Incorporated: DEreported
On the SEC BDC report: 2018 to 2026reported
Filings listed: 19reported10-Q and 10-K since 2022
Former names: Sankaty Capital Corpreported
Latest schedule: 0001193125-26-342491reported