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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 Mar 31, 2023
347 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| C•••• I••••••••• I••• | term loan first lien | $1.4M | $1.2M 87c | 12.16% PIK 7.00% | May 12, 2025 |
| O••• I••••••••• | term loan first lien | $1.2M | $1.2M 101c | SOFR+500 bp | Nov 23, 2026 |
| S•••••• I••• | equity equity | $1.5M | $1.2M 79c | ||
| A• S••••••• C••••••••• | preferred equity equity | $1,000 | $1.1M 101c | ||
| M••••• S••••• | revolver first lien | $1.1M | $1.1M 101c | SOFR+500 bp | Apr 25, 2028 |
| R••••• I••••••••• I••• | term loan first lien | $1.1M | $1.1M | LIBOR+450 bp | Mar 3, 2027 |
| E••••• S••••••• | revolver first lien | $1.1M | $1.1M 101c | //baincapital.com/20230331#Sterling Overnight Interbank Average Rate+810 bp | Sep 25, 2026 |
| G•••••• I••••••••• H••••••• L•• | equity equity | $1.0M | $1.0M 103c | ||
| F••••••• T••••••••• I••• | equity equity | $939,000 | $966,000 103c | ||
| 9• S•••• M•••• G•••• I••• | term loan first lien | $1.3M | $953,000 95c | //baincapital.com/20230331#Canadian Dollar Offered Rate+525 bp | Apr 30, 2026 |
| K•••••••• A•••••••• G••••• I•• | equity equity | $1,000 | $943,000 48c | ||
| G•••••• I••••••••• H••••••• L•• | preferred equity equity | $9,000 | $939,000 119c | S+1000 bp | |
| E••••• S••••••• | preferred equity equity | $896,000 | $923,000 103c | ||
| S•••••• M••••• | term loan first lien | $921,000 | $921,000 102c | SOFR+750 bp PIK 1.00% | Aug 16, 2027 |
| B•••• B•••• | term loan first lien | $735,000 | $906,000 91c | //baincapital.com/20230331#Sterling Overnight Interbank Average Rate+687 bp PIK 0.50% | Jul 7, 2028 |
| G•••• E••••••••• D••••• C••••• P• | revolver first lien | $1.1M | $899,000 83c | Prime+575 bp | Sep 28, 2023 |
| E•• P••••• H•••••••• L• | equity equity | $1,000 | $879,000 7325c | ||
| m••••••• | equity equity | $345,000 | $876,000 254c | ||
| R••• | revolver first lien | $998,000 | $866,000 99c | SOFR+625 bp | Dec 29, 2028 |
| A••••••• F•••••••• G••••• L••• | delayed draw term loan first lien | $872,000 | $854,000 99c | SOFR+475 bp | Dec 23, 2026 |
| E•••••••• C••••••••• R••••• M•••••••• C••••••• L•• | revolver first lien | $850,000 | $850,000 100c | LIBOR+650 bp | Jun 30, 2024 |
| B•••••••• P••• H•••••• C••••••••• | revolver first lien | $827,000 | $827,000 100c | Prime+575 bp | Jun 30, 2023 |
| S•••••• | delayed draw term loan first lien | $1.3M | $796,000 59c | S+1100 bp | Apr 11, 2028 |
| M•• A••••••••• | equity equity | $1,000 | $760,000 95c | ||
| T•••• C•••• S•••••••• I•• | delayed draw term loan first lien | $857,000 | $743,000 | SOFR+600 bp | Sep 7, 2029 |
| T••• P•••••• I••••••••• I•• L• | equity equity | $3.1M | $724,000 23c | ||
| A••••• S•••••••• I••• | revolver first lien | $708,000 | $708,000 102c | Prime+375 bp | Jul 2, 2024 |
| R•••• D••••••••• H••••••• L•••••• | term loan first lien | $677,000 | $695,000 90c | //baincapital.com/20230331#Euro Interbank Offer Rate+650 bp | Apr 18, 2023 |
| R•• O••• L•• | revolver first lien | $683,000 | $683,000 111c | LIBOR+800 bp | Feb 25, 2025 |
| H••••• | equity equity | $1,000 | $651,000 100c | ||
| A•• H•••••••• L•• | equity equity | Not disclosed | $651,000 146c | ||
| 9• S•••• M•••• G•••• I••• | term loan first lien | $583,000 | $632,000 102c | //baincapital.com/20230331#Euro Interbank Offer Rate+525 bp | Apr 30, 2026 |
| G•••••• P••••••••• I•• | revolver first lien | $629,000 | $629,000 100c | SOFR+450 bp | Sep 30, 2024 |
| C• T•••• H•••••••• I••• | preferred equity equity | $2.0M | $620,000 32c | ||
| E••• B•• C••••••• I•• L•• | equity equity | $1.4M | $608,000 43c | ||
| W•••• I•••••••• | revolver first lien | $605,000 | $596,000 100c | SOFR+575 bp | Apr 1, 2026 |
| M•••••• U• F•••••• L•••••• | revolver first lien | $422,000 | $516,000 100c | SOFR+575 bp | Dec 19, 2024 |
| A• S••••••• C••••••••• | preferred equity equity | $1,000 | $515,000 102c | ||
| O••• I••••••••• | delayed draw term loan first lien | $504,000 | $497,000 | SOFR+500 bp | Nov 23, 2026 |
| S••••• G•••• H•••••••• L•• | revolver first lien | $541,000 | $464,000 88c | LIBOR+575 bp | Jun 16, 2028 |
| G•••••• | warrants equity | $4.3M | $457,000 96c | ||
| T•••••• | term loan first lien | $456,000 | $452,000 102c | SOFR+700 bp | Feb 28, 2029 |
| A•• L••••••••• I•• | revolver first lien | $433,000 | $433,000 130c | Prime+450 bp | May 5, 2025 |
| C•••• T••••••••• S•••••••• •••• | revolver first lien | $353,000 | $429,000 | //baincapital.com/20230331#Sterling Overnight Interbank Average Rate+750 bp | Jul 3, 2029 |
| T••• P•••••• I••••••••• I•• L• | term loan first lien | $408,000 | $420,000 104c | LIBOR+150 bp PIK 7.25% | May 29, 2026 |
| D•••• P••••••• | equity equity | $359,000 | $419,000 117c | ||
| P•••••••• | term loan first lien | $328,000 | $405,000 99c | SOFR+575 bp | May 11, 2029 |
| S•••••• M••••• | equity equity | $350,000 | $393,000 112c | ||
| L••••••• P••• | term loan first lien | $291,000 | $359,000 96c | LIBOR+675 bp PIK 0.50% | Jul 7, 2028 |
| A•••••• H•••••••• I••• | revolver first lien | $376,000 | $354,000 | LIBOR+725 bp | May 6, 2027 |
| I••••••••• | revolver first lien | $343,000 | $309,000 99c | SOFR+675 bp | Nov 1, 2028 |
| T•• H••••••• I••• | revolver first lien | $307,000 | $307,000 118c | LIBOR+575 bp | Dec 23, 2025 |
| N•• L••• ••••••••• C••••••••• | delayed draw term loan first lien | $384,000 | $291,000 78c | //baincapital.com/20230331#Canadian Dollar Offered Rate+550 bp | May 26, 2028 |
| U••••••• I••• | term loan first lien | $262,000 | $262,000 101c | SOFR+625 bp | May 13, 2029 |
| M••••• 5••• G••• | term loan first lien | $225,000 | $239,000 96c | //baincapital.com/20230331#Euro Interbank Offer Rate+625 bp | May 28, 2026 |
| C•••••• B•••• L•••••• | term loan first lien | $237,000 | $237,000 101c | LIBOR+550 bp | Jun 7, 2028 |
| D••••• T•••••• I••• | term loan first lien | $202,000 | $202,000 100c | SOFR+600 bp | Oct 2, 2025 |
| P•• | preferred equity equity | $33,000 | $187,000 | ||
| O•• B•••• L•••••• | term loan first lien | $139,000 | $171,000 104c | //baincapital.com/20230331#Sterling Overnight Interbank Average Rate+625 bp | Jun 29, 2029 |
| S•••• H••••••• L••••••••• S••••••• | term loan first lien | $155,000 | $168,000 93c | //baincapital.com/20230331#Euro Interbank Offer Rate+850 bp | Feb 17, 2026 |
| O•••• | term loan first lien | $123,000 | $151,000 90c | //baincapital.com/20230331#Sterling Overnight Interbank Average Rate+500 bp | May 5, 2028 |
| P••••• 2• G• A••••••••• F••••••• | term loan first lien | $125,000 | $151,000 89c | //baincapital.com/20230331#Sterling Overnight Interbank Average Rate+600 bp | Jul 15, 2028 |
| D•••• B•••• L•••••• | term loan second lien | $121,000 | $150,000 91c | //baincapital.com/20230331#Sterling Overnight Interbank Average Rate+775 bp | Apr 27, 2026 |
| M••••• 5••• G••• | term loan first lien | $131,000 | $139,000 98c | //baincapital.com/20230331#Euro Interbank Offer Rate+625 bp | May 28, 2026 |
| Z••••••• B•••• P•• L•••••• | term loan first lien | $206,000 | $138,000 97c | //baincapital.com/20230331#Bank Bill Swap Bid Rate+500 bp | Jun 28, 2024 |
| U••••••• I••• | term loan first lien | $128,000 | $128,000 101c | SOFR+625 bp | May 13, 2029 |
| L••••••• P••• | term loan first lien | $104,000 | $128,000 96c | LIBOR+675 bp PIK 0.50% | Jul 7, 2028 |
| G•••••• I••••••••• H••••••• L•• | warrants equity | $122,000 | $124,000 | ||
| C• N••• I••••••••• L•• | term loan first lien | $121,000 | $121,000 101c | LIBOR+475 bp | Oct 31, 2025 |
| V• G••••• H••••••• L•• | term loan first lien | $100,000 | $106,000 103c | //baincapital.com/20230331#Euro Interbank Offer Rate+575 bp | Dec 22, 2027 |
| U••••••• I••• | term loan first lien | $92,000 | $100,000 102c | //baincapital.com/20230331#Euro Interbank Offer Rate+625 bp | May 13, 2029 |
| A••••• | term loan first lien | $80,000 | $99,000 101c | //baincapital.com/20230331#Sterling Overnight Interbank Average Rate+550 bp | Jun 4, 2029 |
| C•••• | term loan first lien | $98,000 | $98,000 101c | LIBOR+500 bp | May 12, 2028 |
| i•••••••• | term loan first lien | $84,000 | $91,000 103c | 12.13% PIK 10.00% | Jul 13, 2028 |
| I••••••••• E••••••••• I••••••••• L•••••• | term loan first lien | $71,000 | $88,000 101c | //baincapital.com/20230331#Sterling Overnight Interbank Average Rate+475 bp | Nov 30, 2025 |
| N•• I••••••••• I••• | equity equity | $342,000 | $86,000 17c | ||
| R••••••• | term loan first lien | $68,000 | $84,000 102c | SOFR+625 bp | Jun 24, 2029 |
| V•••• B•••• A• | term loan first lien | $570,000 | $83,000 89c | //baincapital.com/20230331#Copenhagen Interbank Offered Rate+400 bp | Mar 10, 2025 |
| V•••• B•••• A• | term loan first lien | $740,000 | $71,000 76c | //baincapital.com/20230331#Norwegian Interbank Offered Rate+400 bp | Mar 10, 2025 |
| T•• S•••• B•••• P•• L•• | term loan first lien | $98,000 | $66,000 87c | //baincapital.com/20230331#Bank Bill Swap Bid Rate+700 bp | Apr 30, 2026 |
| G•• H••••••• L•• S••••• | revolver first lien | $356,000 | $60,000 18c | LIBOR+575 bp PIK 0.25% | Nov 6, 2025 |
| F•• U• F•••• L•••••• | term loan first lien | $81,000 | $54,000 98c | LIBOR+500 bp | Sep 30, 2026 |
| S••••• B•••• L•••••• | term loan first lien | $57,000 | $49,000 | //baincapital.com/20230331#Sterling Overnight Interbank Average Rate+628 bp PIK 6.28% | May 11, 2026 |
| P•••••••• | delayed draw term loan first lien | $39,000 | $46,000 92c | //baincapital.com/20230331#Sterling Overnight Interbank Average Rate+575 bp | Jul 15, 2028 |
| N•• L••• V••••• G•••• | delayed draw term loan first lien | $55,000 | $39,000 89c | //baincapital.com/20230331#Canadian Dollar Offered Rate+550 bp | May 26, 2028 |
| P•••••• B•••• L•••••• | revolver first lien | $32,000 | $35,000 97c | //baincapital.com/20230331#Euro Interbank Offer Rate+550 bp | Nov 26, 2028 |
| R••••••• | term loan first lien | $27,000 | $29,000 | //baincapital.com/20230331#Euro Interbank Offer Rate+600 bp | Jun 24, 2029 |
| D•••• B•••• L•••••• | term loan first lien | $42,000 | $28,000 88c | //baincapital.com/20230331#Bank Bill Swap Bid Rate+450 bp | Apr 28, 2025 |
| C•••••• B•••• L•••••• | delayed draw term loan first lien | $16,000 | $20,000 100c | //baincapital.com/20230331#Sterling Overnight Interbank Average Rate+600 bp | Jan 29, 2029 |
| N•• L••• V••••• G•••• | delayed draw term loan first lien | $29,000 | $18,000 82c | //baincapital.com/20230331#Canadian Dollar Offered Rate+550 bp | May 26, 2028 |
| D•••• B•••• L•••••• | revolver first lien | $4,000 | $5,000 100c | //baincapital.com/20230331#Sterling Overnight Interbank Average Rate+450 bp | Apr 28, 2025 |
| S••••• L•• | revolver first lien | Not disclosed | -$9,000 | S+800 bp | Dec 9, 2026 |
| S••••••• | revolver first lien | Not disclosed | -$11,000 | S+675 bp | Dec 29, 2028 |
| S••••••• | delayed draw term loan first lien | Not disclosed | -$20,000 | S+675 bp | Dec 28, 2029 |
| W••••••••• | revolver first lien | Not disclosed | -$22,000 | Prime+700 bp | Feb 28, 2029 |
| M••• | delayed draw term loan first lien | Not disclosed | -$27,000 | Feb 1, 2029 | |
| V••••• H•••••• I••• | revolver first lien | Not disclosed | -$30,000 | S+700 bp | Sep 3, 2025 |
| A•••••• G•••• H••••••• L•• | revolver first lien | Not disclosed | -$40,000 | Jul 6, 2028 | |
| W•• | revolver first lien | Not disclosed | -$45,000 | LIBOR+625 bp | Apr 27, 2027 |
| A••••••• F•••••••• G••••• L••• | revolver first lien | Not disclosed | -$49,000 | S+475 bp | Dec 23, 2026 |
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