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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, 2022
759 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| i•••••••• | term loan first lien | $3.0M | $3.2M 106c | 10.04% PIK 8.50% | Jul 13, 2028 |
| M••••••• C••••••••• L••• | delayed draw term loan first lien | $3.3M | $3.2M 100c | SOFR+500 bp | Jul 17, 2028 |
| M••••••• C••••••••• L••• T••••••••• | delayed draw term loan first lien | $3.3M | $3.2M 100c | S+500 bp | Jul 17, 2028 |
| A••••• I••••••••• H••••••••• & P••••••••• | equity equity | $32,000 | $3.2M 99c | ||
| A••••• I••••••••• | equity equity | $32,000 | $3.2M 99c | ||
| W•••• I•••••••• | term loan first lien | $3.1M | $3.1M 100c | SOFR+575 bp | Apr 1, 2026 |
| F•••• I•••••••• W•••• I•••••••• | term loan first lien | $3.1M | $3.1M 100c | S+575 bp | Apr 1, 2026 |
| i•••••••• | term loan first lien | $2.8M | $3.0M 104c | 10.00% PIK 10.00% | Jul 13, 2028 |
| i•••••••• S••••••s: B••••••• | term loan first lien | $2.8M | $3.0M 104c | S+1000 bp PIK 10.00% | Jul 13, 2028 |
| O•••• | equity equity | $2.3M | $3.0M 102c | ||
| O•••• S••••••s: B••••••• | equity equity | $2.3M | $3.0M 102c | ||
| T•• S•••• B•••• P•• L•• M••••: A•••••••••, P••••••• & P••••••••• | delayed draw term loan first lien | $4.2M | $2.9M 100c | S+700 bp | Apr 30, 2026 |
| T•• S•••• B•••• P•• L•• | delayed draw term loan first lien | $4.2M | $2.9M 100c | LIBOR+700 bp | Apr 30, 2026 |
| F•••• I•••••••• M••• | delayed draw term loan first lien | $2.6M | $2.8M 106c | S+650 bp | Jul 26, 2028 |
| M••• | delayed draw term loan first lien | $2.6M | $2.8M 106c | //baincapital.com/20230331#Euro Interbank Offer Rate+650 bp | Feb 1, 2029 |
| A••••• S•••••••• I••• | term loan first lien | $2.8M | $2.8M 101c | LIBOR+575 bp | Jul 2, 2024 |
| A••••• S•••••••• I••• E•••••: Oil & Gas | term loan first lien | $2.8M | $2.8M 101c | S+575 bp | Jul 2, 2024 |
| R•• O••• L•• C••••••• G••••: N••••••••• | revolver first lien | $2.7M | $2.7M 103c | S+850 bp | Feb 25, 2025 |
| R•• O••• L•• | revolver first lien | $2.7M | $2.7M 103c | LIBOR+850 bp | Feb 25, 2025 |
| A•• L••••••••• I•• | term loan first lien | $2.7M | $2.7M 101c | SOFR+650 bp | May 5, 2025 |
| A•• L••••••••• I••• T•••••••••: C•••• | term loan first lien | $2.7M | $2.7M 101c | S+650 bp | May 5, 2025 |
| M••••• S••••• | delayed draw term loan first lien | $2.7M | $2.6M 99c | SOFR+500 bp | Apr 25, 2028 |
| M••••• S••••• B••••••, Finance, I•••••••• & Real Estate | delayed draw term loan first lien | $2.7M | $2.6M 99c | S+500 bp | Apr 25, 2028 |
| W• H•••••• I••• C••••••• G••••: N••••••••• | revolver first lien | $2.9M | $2.6M 89c | S+550 bp | Mar 26, 2025 |
| W• H•••••• I••• | revolver first lien | $2.9M | $2.6M 89c | LIBOR+550 bp | Mar 26, 2025 |
| A••••• H•••••••• I••• | delayed draw term loan first lien | $5.1M | $2.5M 50c | LIBOR+650 bp | Dec 20, 2024 |
| A••••• H•••••••• I••• | delayed draw term loan first lien | $5.1M | $2.5M 50c | LIBOR+650 bp | Dec 20, 2024 |
| A••••• H•••••••• I••• M••••: A•••••••••, P••••••• & P••••••••• | delayed draw term loan first lien | $5.1M | $2.5M 50c | S+650 bp | Dec 20, 2024 |
| A•• L••••••••• I•• | term loan first lien | $2.4M | $2.4M 101c | SOFR+600 bp | May 5, 2025 |
| A•• L••••••••• I••• T•••••••••: C•••• | term loan first lien | $2.4M | $2.4M 101c | S+600 bp | May 5, 2025 |
| T••••• H••••••• | delayed draw term loan first lien | $2.4M | $2.4M 100c | SOFR+600 bp | Oct 2, 2027 |
| F•••• F•••••• T••••• H••••••• | delayed draw term loan first lien | $2.4M | $2.4M 100c | S+600 bp | Oct 2, 2025 |
| C•••••••• S••••• L•• H••• T••• I••••••••• | term loan first lien | $2.3M | $2.3M 100c | S+800 bp | Dec 9, 2026 |
| S••••• L•• | term loan first lien | $2.3M | $2.3M 100c | LIBOR+800 bp | Dec 9, 2026 |
| C•••••••• V••••• H•••••• I••• H••• T••• I••••••••• | equity equity | $28,000 | $2.2M 79c | ||
| V••••• T••••• I••• | equity equity | $28,000 | $2.2M 79c | ||
| U••••••• I••• | preferred equity equity | $147,000 | $2.2M 104c | ||
| C•••••••• U•••••• H••• T••• I••••••••• | equity equity | $147,000 | $2.2M 104c | ||
| C•••••••• U•••••• H••• T••• I••••••••• | preferred equity equity | $147,000 | $2.2M 104c | ||
| U••••••• I••• | equity equity | $147,000 | $2.2M 104c | ||
| I••••••• F•••••••• G•••• L•• | equity equity | $2.2M | $2.2M 100c | ||
| F•••• F•••••• I••••••• F•••••••• G•••• L•• | equity equity | $2.2M | $2.2M 100c | ||
| R•••• D••••••••• H••••••• L•••••• C••••••••• & B••••••• | term loan first lien | $2.1M | $2.1M 94c | S+650 bp | Apr 18, 2023 |
| R•••• D••••••••• H••••••• L•••••• | term loan first lien | $2.1M | $2.1M 94c | //baincapital.com/20230331#Euro Interbank Offer Rate+650 bp | Apr 18, 2023 |
| A•••• G••••• L• | equity equity | $10,000 | $2.0M 193c | ||
| A•••• G••••• L• W•••••••• | equity equity | $10,000 | $2.0M 193c | ||
| P•••••• I••••••• L•• H••••••••• & P••••••••• | delayed draw term loan first lien | $1.9M | $1.9M 104c | S+575 bp | Jan 2, 2025 |
| P•••••• I••••••• L•• | delayed draw term loan first lien | $1.9M | $1.9M 104c | LIBOR+575 bp | Jan 2, 2025 |
| R•••••••• I••• | delayed draw term loan first lien | $2.0M | $1.9M 96c | SOFR+575 bp | Apr 15, 2027 |
| R•••••••• I••• H••• T••• I••••••••• | delayed draw term loan first lien | $2.0M | $1.9M 96c | S+575 bp | Apr 15, 2027 |
| C•••••• G••• P••••••• H••••• L•• | delayed draw term loan first lien | $1.9M | $1.9M 104c | SOFR+575 bp | Apr 2, 2029 |
| C•••••• G••• P••••••• H••••• | delayed draw term loan first lien | $1.9M | $1.9M 104c | SOFR+575 bp | Apr 2, 2029 |
| C•••••• G••• P••••••• H••••• L•• H••••, G••••• & L•••••• | delayed draw term loan first lien | $1.9M | $1.9M 104c | S+575 bp | Apr 2, 2029 |
| A• S••••••• C••••••••• H••• T••• I••••••••• | preferred equity equity | $2,000 | $1.8M 99c | ||
| A• S••••••• C••••••••• | preferred equity equity | $2,000 | $1.8M 99c | ||
| A••••• H•••••••• I••• | revolver first lien | $5.4M | $1.8M 35c | LIBOR+575 bp | Dec 20, 2024 |
| A••••• H•••••••• I••• M••••: A•••••••••, P••••••• & P••••••••• | revolver first lien | $5.4M | $1.8M 35c | S+575 bp | Dec 20, 2024 |
| D••••• T•••••• I•• T•••••••••: C••••••• | delayed draw term loan first lien | $1.7M | $1.7M 100c | S+850 bp | Oct 2, 2025 |
| D••••• T•••••• I•• T•••••••••: C••••••• | delayed draw term loan first lien | $1.7M | $1.7M 100c | S+850 bp | Oct 2, 2025 |
| D••••• T•••••• I•• | delayed draw term loan first lien | $1.7M | $1.7M 100c | SOFR+850 bp | Oct 2, 2025 |
| R••••••• H••••••••• | equity equity | $1.6M | $1.7M 107c | ||
| R••••••• H••••••••• A•••••••• & D•••••• | equity equity | $1.6M | $1.7M 107c | ||
| J••• H•••••••• L•• | revolver first lien | $1.7M | $1.7M 98c | LIBOR+575 bp | Sep 9, 2025 |
| J••• H•••••••• L•• A••••••••• | revolver first lien | $1.7M | $1.7M 98c | S+575 bp | Sep 9, 2025 |
| W• H•••••• I••• C••••••• G••••: N••••••••• | delayed draw term loan first lien | $1.7M | $1.6M 95c | S+550 bp | Mar 26, 2026 |
| W• H•••••• I••• | delayed draw term loan first lien | $1.7M | $1.6M 95c | LIBOR+550 bp | Mar 26, 2026 |
| E•• P••••• H•••••••• L• C••••••••• & B••••••• | preferred equity equity | $120,000 | $1.5M 129c | ||
| E•• P••••• H•••••••• L• | preferred equity equity | $120,000 | $1.5M 129c | ||
| D•••• P••••••• | term loan first lien | $1.5M | $1.5M 101c | SOFR+775 bp | Jun 1, 2028 |
| D•••• P••••••• S••••••s: B••••••• | term loan first lien | $1.5M | $1.5M 101c | S+775 bp | Jun 1, 2028 |
| C••••••• G••••• W•••••••• W•• | equity equity | $2.9M | $1.5M 52c | ||
| W•• | equity equity | $2.9M | $1.5M 52c | ||
| A•••••• H•••••••• I••• H••• T••• I••••••••• | equity equity | $2.1M | $1.5M 92c | ||
| A•••••• H•••••••• I••• | equity equity | $2.1M | $1.5M 92c | ||
| F•••• F•••••• A••••••• F•••••••• G••••• L••• | term loan first lien | $1.5M | $1.5M 98c | S+475 bp | Dec 23, 2026 |
| A••••••• F•••••••• G••••• L••• | term loan first lien | $1.5M | $1.5M 98c | SOFR+475 bp | Dec 23, 2026 |
| W•••••••• L•• A•••••••• & D•••••• | revolver first lien | $1.4M | $1.4M 100c | S+500 bp | Apr 3, 2023 |
| W•••••••• L•• | revolver first lien | $1.4M | $1.4M 100c | Prime+500 bp | Apr 3, 2023 |
| W•••••••• L•• A•••••••• & D•••••• | revolver first lien | $1.4M | $1.4M 100c | S+500 bp | Apr 3, 2023 |
| L•••••••• F•••• L•••••• | term loan first lien | $1.4M | $1.4M 101c | LIBOR+550 bp | Sep 1, 2028 |
| L•••••••• F•••• L•••••• M••••: B••••••••• & S••••••••• | term loan first lien | $1.4M | $1.4M 101c | S+550 bp | Aug 31, 2028 |
| R•••••••• I••• | preferred equity equity | $1,000 | $1.4M 100c | ||
| R•••••••• I••• H••• T••• I••••••••• | preferred equity equity | $1,000 | $1.4M 100c | ||
| C•••••••• S•••••• I••• H••• T••• I••••••••• | equity equity | $1.5M | $1.4M 98c | ||
| S•••••• I••• | equity equity | $1.5M | $1.4M 98c | ||
| W•• G••••••• P•••••••• S••••••s: B••••••• | term loan first lien | $1.4M | $1.4M 100c | S+575 bp | Nov 19, 2027 |
| W•• G••••••• P•••••••• | term loan first lien | $1.4M | $1.4M 100c | LIBOR+575 bp | Nov 19, 2027 |
| L•••••••• F•••• L•••••• | term loan first lien | $1.3M | $1.4M 98c | //baincapital.com/20230331#Euro Interbank Offer Rate+550 bp | Sep 1, 2028 |
| L•••••••• F•••• L•••••• M••••: B••••••••• & S••••••••• | term loan first lien | $1.3M | $1.4M 98c | S+550 bp | Aug 31, 2028 |
| P•••••••• U••••••• H•••••••• L•• | equity equity | $1.4M | $1.4M 96c | ||
| P•••••••• U••••••• H•••••••• L•• A•••••••• & D•••••• | equity equity | $1.4M | $1.4M 96c | ||
| E•••••••• C••••••••• R••••• M•••••••• C••••••• L•• | revolver first lien | $1.3M | $1.3M 100c | LIBOR+525 bp | Jun 30, 2024 |
| E•••••••• C••••••••• R••••• M•••••••• C••••••• L•• M••••: D••••••••• & P••••••••• | revolver first lien | $1.3M | $1.3M 100c | S+525 bp | Jun 30, 2024 |
| A••••• S•••••••• I••• | revolver first lien | $1.2M | $1.2M 102c | Prime+375 bp | Jul 2, 2024 |
| A••••• S•••••••• I••• E•••••: Oil & Gas | revolver first lien | $1.2M | $1.2M 102c | S+375 bp | Jul 2, 2024 |
| O••• I••••••••• T•••••••••: C•••• | term loan first lien | $1.2M | $1.2M 101c | S+500 bp | Nov 23, 2026 |
| O••• I••••••••• | term loan first lien | $1.2M | $1.2M 101c | SOFR+500 bp | Nov 23, 2026 |
| N•• L••• V••••• G•••• | revolver first lien | $1.7M | $1.2M 94c | //baincapital.com/20230331#Canadian Dollar Offered Rate+550 bp | May 26, 2026 |
| N•• L••• V••••• G•••• R••••• | revolver first lien | $1.7M | $1.2M 94c | S+550 bp | May 26, 2026 |
| C•••• I••••••••• I•••••••• L••• | delayed draw term loan first lien | $1.3M | $1.1M 84c | LIBOR+700 bp PIK 7.00% | May 12, 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