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B••• C•••••• S•••••••• F••••••• I•••
A business development company traded as B•••, managed by B••• A•••••••• L•, holding $2.4B across 243 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
- $2.4B
- Borrowers
- 243
- Mark on cost
- 95.6¢
- First lien
- 63%
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
- $70.7Mon non-accrual, 3 borrowers
3 borrowers on non-accrual, $70.7M principal; the largest is S•••••• M••••• ($36.3M).
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•••••• M••••• → - $70.2Mnewly on non-accrual
2 borrowers newly placed on non-accrual in Q2 2026, $70.2M principal: S•••••• M••••• ($36.3M), A• • R• L••••••••• I•• ($33.9M).
Q2 2026 · The newest credit problems in the book.
- 21 below 80¢$145M principal
21 positions across 9 borrowers marked below 80¢ on cost, $145M principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026
Every headline figure, and the identifiersCIK 1655050 · file 814-01175ShowHide
Fair value
$2.4B
as of Jun 30, 2026
Principal held
$2.2B
debt pieces, the filer's figure
Cost
$2.4B
96c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
677
243 borrowers
First lien
63%
85% debt by fair value
Quarters on the tape
17
since Dec 31, 2021
Facilities held
553
37 sponsors financed
Portfolio through time
Fair value by quarter end$2.4B as of Jun 30, 2026
Dec 31, 2021$2.9B then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $2.4B | 243 | 96c | 78 | 574 bp |
| Mar 31, 2026 | $2.5B | 243 | 96c | 85 | 573 bp |
| Dec 31, 2025 | $2.7B | 233 | 98c | 103 | 581 bp |
| Sep 30, 2025 | $2.5B | 221 | 98c | 72 | 585 bp |
All 17 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $2.5B | 207 | 98c | 74 | 590 bp |
| Mar 31, 2025 | $2.5B | 196 | 98c | 70 | 585 bp |
| Dec 31, 2024 | $3.0B | 209 | 97c | 85 | 610 bp |
| Sep 30, 2024 | $2.4B | 185 | 98c | 50 | 616 bp |
| Jun 30, 2024 | $2.6B | 174 | 99c | 44 | 618 bp |
| Mar 31, 2024 | $2.8B | 174 | 99c | 44 | 636 bp |
| Dec 31, 2023 | $2.8B | 161 | 98c | 63 | 647 bp |
| Sep 30, 2023 | $2.5B | 169 | 98c | 36 | 639 bp |
| Jun 30, 2023 | $2.5B | 169 | 98c | 31 | 626 bp |
| Mar 31, 2023 | $2.5B | 164 | 97c | 28 | 621 bp |
| Dec 31, 2022 | $5.2B | 186 | 97c | 56 | 620 bp |
| Sep 30, 2022 | $2.3B | 156 | 96c | 6 | 611 bp |
| Dec 31, 2021 | $2.9B | 136 | 99c | 17 | 579 bp |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- Repeat sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
Full timeline · 20 eventsShow fewer
- Placed on non-accrualJun 30, 2026
- Placed on non-accrualJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
Largest facilities held, with co-lenders
- V••••••• I••••••••• unsecured or subordinated term loan1 BDC hold it · matures Feb 22, 2028$254M 88c
- V••••••• B••• C•••••• unsecured or subordinated term loan2 BDCs hold it · matures Dec 24, 2036$179M 90c
- S•••••• H•••••• L•• first lien term loan2 BDCs hold it · matures May 13, 2030$71.0M 103c
- A•• V••••• first lien delayed draw term loan2 BDCs hold it · matures Mar 27, 2027 · possible sponsor R•••• C•••••• G••••• L••$59.9M 100c
- A••••••• T•••••• R••••• G••••• L•• unsecured or subordinated subordinated debt1 BDC hold it · matures Dec 1, 2028$49.9M 89c
- $39.5M n/a
- D••• first lien term loan2 BDCs hold it · matures Sep 30, 2029$33.2M 99c
- A••••••••• I•• first lien term loan4 BDCs hold it · matures May 25, 2029$31.9M 84c
- E•••••••• C••••••••• R••••• M•••••••• C••••••• L•• first lien term loan2 BDCs hold it · matures Sep 30, 2026$30.2M 102c
- T•••••• first lien term loan1 BDC hold it · matures Feb 28, 2029$29.3M 101c
- S••••••• L•• first lien term loan2 BDCs hold it · matures Mar 27, 2029$29.3M 91c
- T•••• C•••• S•••••••• I•• first lien term loan2 BDCs hold it · matures Sep 7, 2029$27.6M 100c
Schedule of investments at Dec 31, 2021
323 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| G•••• E••••••••• D••••• C••••• P• | revolver first lien | $1.0M | $929,000 91c | LIBOR+475 bp PIK -0.50% | Sep 28, 2023 |
| G•••• E••••••••• D••••• C••••• P• | revolver first lien | $1.0M | $929,000 91c | LIBOR+475 bp PIK 0.50% | Sep 28, 2023 |
| B•••• B•••• F••••••• B• | term loan first lien | $684,000 | $926,000 99c | LIBOR+600 bp | Jul 7, 2028 |
| K•••••••• A•••••••• G••••• I•• | equity equity | $1,000 | $913,000 47c | ||
| S••••••• L•• | revolver first lien | $907,000 | $907,000 101c | LIBOR+450 bp | Sep 9, 2023 |
| J••• H•••••••• L•• | revolver first lien | $894,000 | $894,000 104c | Prime+575 bp | Sep 9, 2025 |
| H•••••• T•••••• I••• | delayed draw term loan first lien | $890,000 | $890,000 100c | LIBOR+500 bp | Jun 15, 2023 |
| G•••••• I••••••••• H••••••• L•• | preferred equity equity | $8,000 | $830,000 105c | S+1000 bp | |
| B•••••••• P••• H•••••• C••••••••• | revolver first lien | $817,000 | $817,000 100c | Prime+575 bp | Jun 30, 2023 |
| B•••••••• P••• H•••••• C••••••••• | revolver first lien | $817,000 | $817,000 100c | Prime+575 bp | Jun 30, 2023 |
| M•• A••••••••• | equity equity | $1,000 | $798,000 100c | ||
| O••• I••••••••• | delayed draw term loan first lien | $776,000 | $768,000 100c | LIBOR+500 bp | Nov 23, 2026 |
| R•••• D••••••••• H••••••• L•••••• | term loan first lien | $677,000 | $754,000 98c | //fasb.org/us-gaap/2022#Eurodollar+650 bp | Apr 18, 2023 |
| A•• U• H••••••• I••• | revolver first lien | $698,000 | $698,000 102c | LIBOR+525 bp | Apr 1, 2024 |
| A•••••••• A••••••••• C• L•• | revolver first lien | $651,000 | $586,000 100c | LIBOR+600 bp | Dec 29, 2027 |
| A•• H•••••••• L•• | equity equity | $445,000 | $575,000 129c | ||
| T•• H••••••• I••• | revolver first lien | $458,000 | $458,000 111c | LIBOR+600 bp | Dec 23, 2025 |
| T•• H••••• L• | equity equity | $1.2M | $431,000 36c | ||
| E•• P••••• H•••••••• L• | equity equity | $1,000 | $407,000 3392c | ||
| T••• P•••••• I••••••••• l•• L• | term loan first lien | $366,000 | $377,000 104c | LIBOR+150 bp PIK -7.25% | Feb 28, 2025 |
| T••• P•••••• I••••••••• I•• L••• | term loan first lien | $366,000 | $377,000 104c | LIBOR+150 bp PIK 7.25% | Feb 28, 2025 |
| m••••••• | equity equity | $345,000 | $372,000 108c | ||
| S•••••• M••••• | equity equity | Not disclosed | $353,000 108c | ||
| C• N••• I••••••••• L•• | term loan first lien | $347,000 | $347,000 101c | LIBOR+475 bp | Oct 31, 2025 |
| C• N••• I••••••••• L•• | term loan first lien | $347,000 | $347,000 101c | LIBOR+475 bp | Oct 31, 2025 |
| N•• L••• V••••• G•••• | delayed draw term loan first lien | $322,000 | $322,000 104c | //baincapital.com/20221231#Canadian Dollar Offered Rate+550 bp | May 26, 2028 |
| M••••• 5••• G••• | term loan first lien | $225,000 | $255,000 103c | //baincapital.com/20221231#Euro Interbank Offer Rate+625 bp | May 28, 2026 |
| N•• L••• V••••• G•••• | revolver first lien | $313,000 | $248,000 109c | //baincapital.com/20221231#Canadian Dollar Offered Rate+525 bp | May 26, 2026 |
| M••• | term loan first lien | $216,000 | $245,000 99c | //baincapital.com/20221231#Euro Interbank Offer Rate+550 bp | Jul 26, 2028 |
| M••• F••••••• A• | term loan first lien | $216,000 | $245,000 99c | //baincapital.com/20220930#Euro Interbank Offer Rate+550 bp | Jul 26, 2028 |
| C•••••• B•••• L•••••• | term loan first lien | $237,000 | $237,000 101c | LIBOR+600 bp | Jun 7, 2028 |
| N•• I••••••••• I••• | equity equity | $564,000 | $228,000 27c | ||
| D••••• T•••••• I•• | term loan first lien | $202,000 | $202,000 100c | LIBOR+600 bp | Oct 2, 2025 |
| S••••• G•••• H•••••••• L•• | revolver first lien | $197,000 | $197,000 111c | LIBOR+575 bp | Jun 16, 2028 |
| S••••• G•••• H•••••••• L•• | revolver first lien | $197,000 | $197,000 111c | LIBOR+575 bp | Jun 16, 2027 |
| O••• I••••••••• | revolver first lien | $183,000 | $176,000 96c | LIBOR+500 bp | Nov 23, 2025 |
| P••••• 2• G• F••••••• B• | term loan first lien | $125,000 | $169,000 100c | SOFR+575 bp | Jul 15, 2028 |
| O••• 2• | delayed draw term loan first lien | $123,000 | $166,000 99c | SOFR+550 bp | May 5, 2028 |
| O••• 2• | term loan first lien | $123,000 | $166,000 99c | //baincapital.com/20220930#Sterling Overnight Interbank Average Rate+550 bp | May 5, 2028 |
| D•••• B•••• L•••••• | term loan second lien | $121,000 | $164,000 100c | LIBOR+775 bp | Apr 27, 2026 |
| P•• | preferred equity equity | $33,000 | $163,000 | ||
| Z••••••• B•••• P•• L•••••• | term loan first lien | $206,000 | $150,000 106c | //baincapital.com/20220930#Bank Bill Swap Bid Rate+600 bp | Jun 28, 2024 |
| Z••••••• B•••• P•• L•••••• | term loan first lien | $206,000 | $150,000 106c | //baincapital.com/20221231#Bank Bill Swap Rate+600 bp | Jun 28, 2024 |
| M••••• 5••• G••• | delayed draw term loan first lien | $131,000 | $149,000 105c | //baincapital.com/20221231#Euro Interbank Offer Rate+625 bp | May 28, 2026 |
| U••••••• I••• | term loan first lien | $148,000 | $148,000 101c | LIBOR+400 bp | Aug 9, 2027 |
| G•••••• I••••••••• H••••••• L•• | warrants equity | $122,000 | $126,000 | ||
| M•••••• U• F•••••• L•••••• | revolver first lien | $89,000 | $120,000 107c | LIBOR+550 bp | Dec 19, 2024 |
| M•••••• U• F•••••• L•••••• | revolver first lien | $89,000 | $120,000 107c | LIBOR+550 bp | Dec 19, 2024 |
| I••••••••• E••••••••• I••••••••• L•••••• | term loan first lien | $87,000 | $118,000 111c | LIBOR+475 bp | May 31, 2023 |
| H•••••• T•••••• I••• | term loan first lien | $116,000 | $116,000 102c | LIBOR+500 bp | Jun 15, 2023 |
| i•••••••• F••••••• B• | term loan first lien | $102,000 | $116,000 91c | //baincapital.com/20221231#Euro Interbank Offer Rate+850 bp | Jul 13, 2028 |
| V•••• B•••• A• | term loan first lien | $570,000 | $87,000 95c | //baincapital.com/20221231#Canadian Dollar Offered Rate+400 bp | Mar 10, 2025 |
| V•••• B•••• A• | term loan first lien | $740,000 | $84,000 90c | //baincapital.com/20221231#Norwegian Interbank Offered Rate+400 bp | Mar 10, 2025 |
| A•• H•••••••• L•• | equity equity | $9,000 | $81,000 900c | ||
| A•••••••• B•••• L•••••• | term loan first lien | $56,000 | $76,000 97c | SOFR+475 bp | Apr 30, 2025 |
| T•• S•••• B•••• P•• L•• | term loan first lien | $97,000 | $67,000 89c | //baincapital.com/20221231#Bank Bill Swap Bid Rate+700 bp | Apr 30, 2026 |
| T•• S•••• B•••• P•• L•• | term loan first lien | $97,000 | $67,000 89c | //baincapital.com/20220930#Bank Bill Swap Bid Rate+700 bp | Apr 30, 2026 |
| W•••• I•••••••• | revolver first lien | $70,000 | $63,000 117c | LIBOR+575 bp | Apr 1, 2026 |
| W•••• I•••••••• | revolver first lien | $70,000 | $63,000 117c | LIBOR+575 bp | Apr 1, 2026 |
| S••••• B•••• L•••••• | term loan first lien | $50,000 | $60,000 97c | LIBOR+700 bp | May 11, 2026 |
| 9• S•••• M•••• G•••• I••• | term loan first lien | $72,000 | $57,000 106c | //baincapital.com/20221231#Canadian Dollar Offered Rate+550 bp | Apr 30, 2026 |
| 9• S•••• M•••• G•••• I••• | term loan first lien | $39,000 | $44,000 98c | //baincapital.com/20221231#Euro Interbank Offer Rate+525 bp | Apr 30, 2026 |
| C• N••• I••••••••• L•• | revolver first lien | $44,000 | $44,000 100c | LIBOR+475 bp | Oct 31, 2025 |
| C• N••• I••••••••• L•• | revolver first lien | $44,000 | $44,000 100c | LIBOR+475 bp | Oct 31, 2025 |
| O••• I••••••••• | delayed draw term loan first lien | $46,000 | $37,000 100c | LIBOR+500 bp | Nov 23, 2026 |
| D•••• B•••• L•••••• | term loan first lien | $42,000 | $31,000 97c | //baincapital.com/20220930#Bank Bill Swap Rate+400 bp | Apr 28, 2025 |
| D•••• B•••• L•••••• | term loan first lien | $42,000 | $31,000 97c | //baincapital.com/20221231#Bank Bill Swap Bid Rate+400 bp | Apr 28, 2025 |
| D•••• B•••• L•••••• | revolver first lien | $10,000 | $13,000 100c | LIBOR+450 bp | Oct 28, 2024 |
| D•••• B•••• L•••••• | revolver first lien | $10,000 | $13,000 100c | LIBOR+450 bp | Apr 28, 2025 |
| A•••••• H•••••••• I••• | revolver first lien | Not disclosed | -$8,000 | S+725 bp | May 6, 2027 |
| W•• | revolver first lien | Not disclosed | -$8,000 | S+625 bp | Apr 27, 2027 |
| R•••••••• I••• | revolver first lien | Not disclosed | -$13,000 | S+525 bp | Apr 15, 2027 |
| S••••• L•• | revolver first lien | Not disclosed | -$25,000 | S+800 bp | Dec 9, 2026 |
| W•• | delayed draw term loan first lien | Not disclosed | -$31,000 | S+625 bp | Apr 27, 2027 |
| W•••••••• L•• | revolver first lien | Not disclosed | -$59,000 | S+600 bp | Apr 3, 2023 |
| W•• G••••••• P•••••••• | revolver first lien | Not disclosed | -$72,000 | S+575 bp | Nov 19, 2027 |
| P•••••• B•••• L•••••• | delayed draw term loan first lien | Not disclosed | -$86,000 | S+550 bp | Nov 24, 2028 |
| S••••••••• | revolver first lien | Not disclosed | -$126,000 | Nov 23, 2028 | |
| R•••••••• I••• | delayed draw term loan first lien | Not disclosed | -$134,000 | S+525 bp | Apr 15, 2027 |
| T•• S•••• B•••• P•• L•• | revolver first lien | Not disclosed | -$151,000 | S+700 bp | Apr 30, 2027 |
| M••• A••••••••• | revolver first lien | Not disclosed | -$201,000 | S+750 bp | Oct 18, 2026 |
| T•• P••••••••• I••• | delayed draw term loan first lien | Not disclosed | -$854,000 | Oct 13, 2025 | |
| L•••••••• F•••• L•••••• | term loan first lien | Not disclosed | Not disclosed | LIBOR+575 bp | Sep 1, 2028 |
| i•••••••• | term loan first lien | Not disclosed | Not disclosed | S+850 bp | Jul 13, 2028 |
| A•• H•••••••• L•• | equity equity | Not disclosed | Not disclosed | ||
| G•••••• | warrants equity | Not disclosed | Not disclosed | ||
| V••••• T••••• I••• | revolver first lien | Not disclosed | Not disclosed | S+550 bp | Sep 3, 2025 |
| B••••••••• O•• • G••• L• | equity equity | $1.1M | Not disclosed | ||
| N•• L••• V••••• G•••• I••• | term loan first lien | Not disclosed | Not disclosed | May 26, 2028 | |
| m••••••• | revolver first lien | Not disclosed | Not disclosed | S+750 bp | Jul 1, 2027 |
| R•• O••• L•• | revolver first lien | Not disclosed | Not disclosed | Feb 25, 2025 | |
| C•• G•••• H•••••••• I••• | revolver first lien | Not disclosed | Not disclosed | S+525 bp | Mar 3, 2025 |
| M••• F••••••• A• | term loan first lien | Not disclosed | Not disclosed | S+550 bp | Jul 26, 2028 |
| M•••••• A••••••••• I••• | revolver first lien | Not disclosed | Not disclosed | S+550 bp | Dec 19, 2025 |
| M••• A••••••••• F••••••• | term loan first lien | Not disclosed | Not disclosed | S+550 bp | Feb 1, 2029 |
| C•••••• B•••• L•••••• | term loan first lien | Not disclosed | Not disclosed | LIBOR+600 bp | Jun 7, 2028 |
| G•••• S••••• P•••••• L•• | revolver first lien | Not disclosed | Not disclosed | Aug 27, 2025 | |
| C•••••• D•• L•• | revolver first lien | Not disclosed | Not disclosed | S+450 bp | Dec 15, 2023 |
| M•• B••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+675 bp | Dec 21, 2026 |
| A•••••• G•••• H••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+525 bp | Jul 6, 2028 |
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