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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 Sep 30, 2022
325 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| C• T•••• H•••••••• I••• | preferred equity equity | $2.0M | $918,000 47c | ||
| m••••••• | equity equity | $345,000 | $909,000 263c | ||
| A••••• A•••••••• I••• | revolver first lien | $1.1M | $903,000 103c | SOFR+625 bp | Mar 10, 2028 |
| G•••• E••••••••• D••••• C••••• P• | revolver first lien | $986,000 | $897,000 91c | LIBOR+425 bp PIK -0.50% | Sep 28, 2023 |
| E••••• S••••••• | preferred equity equity | $896,000 | $896,000 100c | ||
| G•••••• I••••••••• H••••••• L•• | preferred equity equity | $9,000 | $894,000 113c | S+1000 bp | |
| W•• G••••••• P•••••••• | revolver first lien | $965,000 | $893,000 99c | LIBOR+575 bp | Nov 19, 2027 |
| S•••••• | delayed draw term loan first lien | $1.4M | $881,000 65c | S+1050 bp | Apr 11, 2028 |
| A••••••• F•••••••• G••••• L••• | delayed draw term loan first lien | $876,000 | $876,000 102c | SOFR+475 bp | Dec 23, 2026 |
| E•••••• B••••• I••• | revolver first lien | $850,000 | $850,000 102c | LIBOR+550 bp | Jul 19, 2024 |
| Y•• H•••••••• I••• | revolver first lien | $855,000 | $833,000 103c | LIBOR+500 bp | Oct 31, 2025 |
| O••• I••••••••• | term loan first lien | $814,000 | $807,000 99c | SOFR+500 bp | Nov 23, 2026 |
| K•••••••• A•••••••• G••••• I•• | equity equity | $1,000 | $792,000 40c | ||
| M•• A••••••••• | equity equity | $1,000 | $791,000 99c | ||
| B•••• B•••• | term loan first lien | $707,000 | $789,000 82c | //baincapital.com/20220930#Sterling Overnight Interbank Average Rate+300 bp PIK -4.25% | Jul 7, 2028 |
| R•••• D••••••••• H••••••• L•••••• | term loan first lien | $677,000 | $642,000 84c | //baincapital.com/20220930#Euro Interbank Offer Rate+700 bp | Apr 18, 2023 |
| A•• H•••••••• L•• | equity equity | $0 | $619,000 139c | ||
| S••••• P•••••••• C•••• | revolver first lien | $651,000 | $602,000 100c | SOFR+560 bp | Jul 22, 2029 |
| 9• S•••• M•••• G•••• I••• | term loan first lien | $586,000 | $573,000 92c | //baincapital.com/20220930#Euro Interbank Offer Rate+525 bp | Apr 30, 2026 |
| A••••• S•••••••• I••• | revolver first lien | $567,000 | $567,000 104c | Prime+625 bp | Jul 2, 2024 |
| S••••• G•••• H•••••••• L•• | term loan first lien | $590,000 | $550,000 96c | LIBOR+575 bp | Jun 16, 2028 |
| A• S••••••• C••••••••• | preferred equity equity | $1,000 | $506,000 100c | ||
| E•• P••••• H•••••••• L• | equity equity | $1,000 | $487,000 4058c | ||
| M••• | term loan first lien | $500,000 | $485,000 91c | //baincapital.com/20220930#Euro Interbank Offer Rate+550 bp | Jul 26, 2028 |
| G•••••• | warrants equity | $3.3M | $435,000 91c | ||
| S•••••• M••••• | equity equity | $350,000 | $397,000 113c | ||
| T••• P•••••• I••••••••• l•• L• | term loan first lien | $394,000 | $391,000 100c | LIBOR+150 bp PIK -7.25% | Feb 28, 2025 |
| D•••• P••••••• | equity equity | $359,000 | $367,000 102c | ||
| O••• I••••••••• | delayed draw term loan first lien | $366,000 | $366,000 102c | LIBOR+500 bp | Nov 23, 2026 |
| P•••••••• | term loan first lien | $328,000 | $366,000 90c | //baincapital.com/20220930#Sterling Overnight Interbank Average Rate+575 bp | May 11, 2029 |
| N•• L••• ••••••••• C••••••••• | delayed draw term loan first lien | $386,000 | $363,000 97c | LIBOR+550 bp | May 26, 2028 |
| C• N••• I••••••••• L•• | term loan first lien | $344,000 | $344,000 101c | LIBOR+475 bp | Oct 31, 2025 |
| A•• H•••••••• L•• | equity equity | $9,000 | $334,000 3711c | ||
| C•••••• G••• P••••••• H••••• L•• | revolver first lien | $356,000 | $331,000 107c | SOFR+575 bp | Mar 31, 2028 |
| L••••••• P••• | term loan first lien | $279,000 | $312,000 87c | LIBOR+300 bp PIK -4.25% | Jul 7, 2028 |
| U••••••• I••• | term loan first lien | $262,000 | $262,000 101c | SOFR+600 bp | May 13, 2029 |
| W•••• I•••••••• | revolver first lien | $256,000 | $256,000 105c | LIBOR+575 bp | Apr 1, 2026 |
| C•••••• B•••• L•••••• | term loan first lien | $237,000 | $237,000 101c | LIBOR+550 bp | Jun 7, 2028 |
| M••••• S••••• | revolver first lien | $266,000 | $234,000 99c | SOFR+500 bp | Apr 25, 2028 |
| A••••••• I•• | revolver first lien | $226,000 | $226,000 112c | LIBOR+525 bp | Aug 28, 2024 |
| M••••• 5••• G••• | term loan first lien | $225,000 | $216,000 87c | //baincapital.com/20220930#Euro Interbank Offer Rate+625 bp | May 28, 2026 |
| M••• | term loan first lien | $216,000 | $209,000 84c | //baincapital.com/20220930#Euro Interbank Offer Rate+550 bp | Jul 26, 2028 |
| D••••• T•••••• I•• | term loan first lien | $202,000 | $202,000 100c | LIBOR+600 bp | Oct 2, 2025 |
| W•••••••• L•• | term loan first lien | $254,000 | $172,000 69c | Prime+500 bp | Apr 3, 2023 |
| P•• | preferred equity equity | $33,000 | $163,000 | ||
| S•••• H••••••• L••••••••• S••••••• | term loan first lien | $155,000 | $152,000 84c | //baincapital.com/20220930#Euro Interbank Offer Rate+850 bp | Feb 17, 2026 |
| P•••••••• | term loan first lien | $125,000 | $140,000 83c | //baincapital.com/20220930#Sterling Overnight Interbank Average Rate+575 bp | Jul 15, 2028 |
| O•••• | term loan first lien | $123,000 | $137,000 82c | S+528 bp | May 5, 2028 |
| M••••••• C••••••••• L••• | revolver first lien | $188,000 | $132,000 99c | SOFR+500 bp | Jul 17, 2028 |
| D•••• B•••• L•••••• | term loan second lien | $121,000 | $132,000 80c | //baincapital.com/20220930#Sterling Overnight Interbank Average Rate+775 bp | Apr 27, 2026 |
| Z••••••• B•••• P•• L•••••• | term loan first lien | $206,000 | $131,000 92c | //baincapital.com/20220930#Bank Bill Swap Bid Rate+500 bp | Jun 28, 2024 |
| U••••••• I••• | term loan first lien | $128,000 | $128,000 101c | SOFR+600 bp | May 13, 2029 |
| M••••• 5••• G••• | term loan first lien | $131,000 | $126,000 89c | //baincapital.com/20220930#Euro Interbank Offer Rate+625 bp | May 28, 2026 |
| N•• I••••••••• I••• | equity equity | $428,000 | $121,000 19c | ||
| L••••••• P••• | term loan first lien | $100,000 | $111,000 86c | LIBOR+300 bp PIK -4.25% | Jul 7, 2028 |
| I••••••••• E••••••••• I••••••••• L•••••• | term loan first lien | $87,000 | $98,000 92c | //baincapital.com/20220930#Sterling Overnight Interbank Average Rate+475 bp | Nov 30, 2025 |
| C•••• | term loan first lien | $98,000 | $98,000 101c | LIBOR+500 bp | May 12, 2028 |
| V• G••••• H••••••• L•• | term loan first lien | $100,000 | $97,000 94c | //baincapital.com/20220930#Euro Interbank Offer Rate+575 bp | Dec 22, 2027 |
| G•••••• I••••••••• H••••••• L•• | warrants equity | $122,000 | $95,000 | ||
| U••••••• I••• | term loan first lien | $92,000 | $91,000 91c | //baincapital.com/20220930#Euro Interbank Offer Rate+600 bp | May 13, 2029 |
| i•••••••• | term loan first lien | $80,000 | $78,000 94c | //baincapital.com/20220930#Euro Interbank Offer Rate+1000 bp | Jul 13, 2028 |
| V•••• B•••• A• | term loan first lien | $570,000 | $75,000 82c | //baincapital.com/20220930#Copenhagen Interbank Offered Rate+400 bp | Mar 10, 2025 |
| V•••• B•••• A• | term loan first lien | $740,000 | $68,000 73c | //baincapital.com/20220930#Norwegian Interbank Offered Rate+400 bp | Mar 10, 2025 |
| T•• S•••• B•••• P•• L•• | term loan first lien | $97,000 | $59,000 79c | //baincapital.com/20220930#Bank Bill Swap Bid Rate+700 bp | Apr 30, 2026 |
| N•• L••• V••••• G•••• | delayed draw term loan first lien | $81,000 | $58,000 91c | //baincapital.com/20220930#Canadian Dollar Offered Rate+550 bp | May 26, 2028 |
| S••••• B•••• L•••••• | term loan first lien | $54,000 | $52,000 78c | //baincapital.com/20220930#Sterling Overnight Interbank Average Rate+600 bp | May 11, 2026 |
| P•••••••• | term loan first lien | $39,000 | $43,000 86c | LIBOR+575 bp | Jul 15, 2028 |
| P•••••• B•••• L•••••• | revolver first lien | $32,000 | $31,000 86c | //baincapital.com/20220930#Euro Interbank Offer Rate+550 bp | Nov 26, 2028 |
| D•••• B•••• L•••••• | term loan first lien | $42,000 | $26,000 81c | //baincapital.com/20220930#Bank Bill Swap Rate+450 bp | Apr 28, 2025 |
| G•••• S••••• P•••••• L•• | revolver first lien | Not disclosed | $24,000 | S+550 bp | Aug 27, 2025 |
| C•••••• B•••• L•••••• | term loan first lien | $16,000 | $18,000 90c | //baincapital.com/20220930#Sterling Overnight Interbank Average Rate+600 bp | Jan 29, 2029 |
| W•• | revolver first lien | $47,000 | $18,000 45c | LIBOR+625 bp | Apr 27, 2027 |
| T•• H••••••• I••• | revolver first lien | Not disclosed | $5,000 | LIBOR+575 bp | Dec 23, 2025 |
| G•••••• P••••••••• I•• | revolver first lien | Not disclosed | -$2,000 | LIBOR+450 bp | Sep 30, 2024 |
| D•••• P••••••• | revolver first lien | Not disclosed | -$3,000 | S+775 bp | Jun 1, 2028 |
| M•••••• U• F•••••• L•••••• | revolver first lien | Not disclosed | -$6,000 | S+575 bp | Dec 19, 2024 |
| A•••••• H•••••••• I••• | revolver first lien | Not disclosed | -$13,000 | S+725 bp | May 6, 2027 |
| M•••••• A••••••••• I••• | revolver first lien | Not disclosed | -$14,000 | S+575 bp | Dec 19, 2025 |
| E••••• S••••••• | revolver first lien | Not disclosed | -$15,000 | S+800 bp | Sep 25, 2026 |
| S••••• L•• | revolver first lien | Not disclosed | -$22,000 | S+800 bp | Dec 9, 2026 |
| A•••••••• A••••••••• C• L•• | revolver first lien | Not disclosed | -$24,000 | S+600 bp | Dec 29, 2027 |
| S•••••• I••• | delayed draw term loan first lien | Not disclosed | -$26,000 | S+650 bp | Mar 6, 2028 |
| S•••••• I••• | revolver first lien | Not disclosed | -$26,000 | S+650 bp | Mar 6, 2028 |
| A••••••••• | revolver first lien | Not disclosed | -$34,000 | S+625 bp | May 25, 2028 |
| M••••• S••••• | delayed draw term loan first lien | Not disclosed | -$34,000 | S+500 bp | Apr 25, 2028 |
| M••••• S••••• | delayed draw term loan first lien | Not disclosed | -$40,000 | S+500 bp | Apr 25, 2028 |
| A•••••• G•••• H••••••• L•• | revolver first lien | Not disclosed | -$40,000 | S+600 bp | Jul 6, 2028 |
| M•• S••••••• L•• | revolver first lien | Not disclosed | -$50,000 -96c | S+550 bp | Feb 10, 2026 |
| A•••••• G•••• H••••••• L••• | delayed draw term loan first lien | Not disclosed | -$50,000 | LIBOR+600 bp | Jul 6, 2028 |
| T•••• C•••• S•••••••• I•• | revolver first lien | Not disclosed | -$57,000 | S+660 bp | Sep 7, 2028 |
| V••••• H•••••• I••• | revolver first lien | Not disclosed | -$68,000 | S+550 bp | Sep 3, 2025 |
| O•• B•••• L•••••• | delayed draw term loan first lien | Not disclosed | -$69,000 | S+625 bp | Jun 29, 2029 |
| A••••• I••••••••• | revolver first lien | Not disclosed | -$72,000 | S+575 bp | Jun 1, 2028 |
| A••••• I••••••••• | delayed draw term loan first lien | Not disclosed | -$96,000 | S+575 bp | Jun 1, 2028 |
| R•••••••• I••• | delayed draw term loan first lien | Not disclosed | -$98,000 | LIBOR+575 bp | Apr 15, 2027 |
| T•••• C•••• S•••••••• I•• | delayed draw term loan first lien | Not disclosed | -$114,000 | S+660 bp | Sep 7, 2029 |
| W•• | delayed draw term loan first lien | Not disclosed | -$117,000 | S+625 bp | Apr 27, 2027 |
| S••••••••• | revolver first lien | Not disclosed | -$158,000 | S+600 bp | Nov 23, 2027 |
| B••• C•••••• | term loan lien unstated | $10,000 | -$433,000 -4330c | ||
| T•• P••••••••• I••• | delayed draw term loan first lien | Not disclosed | -$1.4M | S+625 bp | Oct 13, 2025 |
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