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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, 2024
489 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| C••••••• W••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| B•• J•••••••• H••••••• A••••••• •• I••• L•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| A•••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| S••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| P•••••••• U••••••• H•••••••• L•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| F•••••• S•••• A•••••••• & D•••••• | revolver first lien | Not disclosed | Not disclosed n/a | S+685 bp | Aug 22, 2029 |
| G••• A••••••• ••••••••• C• | unstated lien unstated | Not disclosed | Not disclosed | ||
| E•• H••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| P•• B•••••••, F••• & T•••••• | preferred equity equity | $33,000 | Not disclosed | ||
| B••• C•••••• | term loan unsecured or subordinated | Not disclosed | Not disclosed | ||
| E•••••• B••••• I••• H••• T••• I••••••••• | revolver first lien | Not disclosed | Not disclosed n/a | S+585 bp | Jul 19, 2026 |
| F•••• F•••••• C••••••• W••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+560 bp | Jun 30, 2029 |
| A•••••••• S••••••s: B••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+575 bp | Jun 5, 2030 |
| B•• J•••••••• H••••••• A••••••• ••• I•• L•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| E••••••••• M••••••• S•••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| F•• A••••••••• I••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| I••••••• F•••••••• G•••• L•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| T•• H••••• L• | unstated lien unstated | Not disclosed | Not disclosed | ||
| T•••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| i•••••••• F••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| S••••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| G•••••• I••••••••• H••••••• L•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| G•••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| A•• V••••• H••••••••• & P••••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed n/a | S+590 bp | Mar 27, 2026 |
| E•• P••••• H•••••••• L• | unstated lien unstated | Not disclosed | Not disclosed | ||
| A• S••••••• C••••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| C•••••• B•••• L•••••• S••••••s: B••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | Feb 1, 2029 | |
| P••••••• P••••••• H••••••••• & P••••••••• | revolver first lien | Not disclosed | Not disclosed n/a | S+650 bp | Feb 28, 2029 |
| R••••••• E••••••••• I••••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed n/a | Jul 12, 2029 | |
| B••••• S••••••••• L••••• H••••••••• & P••••••••• | revolver first lien | Not disclosed | Not disclosed | S+575 bp | Mar 25, 2028 |
| D••• S••••••s: B••••••• | revolver first lien | Not disclosed | Not disclosed | S+750 bp | Sep 30, 2029 |
| E••••• S••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| L•••••••• H••••••• B• L•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| H••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| B•• P•••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| A• S••••••• C••••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| F•••• F•••••• L••••• C•••••••• L•••••• H•••••• L•• | equity equity | $1,000 | Not disclosed | ||
| O•••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| E••••• S••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| D• B••• T••••••••• | equity equity | $51,000 | Not disclosed | ||
| W•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| P•••••••• S••••••s: B••••••• | equity equity | $3.6M | Not disclosed n/a | ||
| T••••••• L•• R••••• | equity equity | $5.6M | Not disclosed | ||
| D•••• P••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| F••••••• T••••••••• I••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| H••••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| M•• A••••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| R•••••••• I••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| C•••••• G••• P••••••• H••••• L•• H••••, G••••• & L•••••• | revolver first lien | Not disclosed | Not disclosed n/a | S+475 bp | Apr 2, 2029 |
| A•••••• H••••, G••••• & L•••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+550 bp | Sep 6, 2031 |
| F•• A••••••••• I•• Capital E•••••••• | preferred equity equity | $4,000 | Not disclosed | ||
| G•••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| G••• A••••••• ••••••••• C• | unstated lien unstated | Not disclosed | Not disclosed | ||
| C• T•••• H•••••••• I••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| H••••••••• H••••••••• & P••••••••• | revolver first lien | Not disclosed | Not disclosed | S+610 bp | Aug 20, 2029 |
| C•••• T••••••••• S•••••••• •••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| D••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| M•• A••••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| C••••••• G••••• W•••••••• W•• | equity equity | $2.9M | Not disclosed n/a | ||
| A•• H••••••• T•••••••••: C•••• | equity equity | $9,000 | Not disclosed n/a | ||
| A•• A•• C•••••• Capital E•••••••• | revolver first lien | Not disclosed | Not disclosed n/a | S+650 bp | Oct 31, 2029 |
| G•••••• I••••••••• H••••••• L•• T•••••••••: C•••• | preferred equity equity | Not disclosed | Not disclosed | S+1000 bp | |
| D••• S••••••s: B••••••• | equity equity | $4.0M | Not disclosed | ||
| D•••• B•••• L•••••• H••••••••• & P••••••••• | revolver first lien | Not disclosed | Not disclosed | S+550 bp | Oct 28, 2024 |
| A••••• I••••••••• H••••••••• & P••••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed n/a | S+575 bp | May 31, 2028 |
| m••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| T•• G••••• S••••••s: B••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | Jan 27, 2029 | |
| E••• B•• C••••••• I•• L•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| L•••••••• H••••••• B• L•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| N•• I••••••••• I••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| T•••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| A••••• I••••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| A••••• A••••••• T••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| A•• A•• C•••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| S••••• P•••••••• C•••• A•••••••• & D•••••• | revolver first lien | Not disclosed | Not disclosed n/a | S+535 bp | Jul 22, 2029 |
| G•••••• S•••• F•••••••• S••••• G••••••••• F••• I••••••••• S• | unstated lien unstated | Not disclosed | Not disclosed | ||
| S••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| C••• S••••••s: B••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | May 20, 2031 | |
| C••• S••••••s: B••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | May 20, 2031 | |
| D•••••••• S••••• L••••• S••••••s: B••••••• | revolver first lien | Not disclosed | Not disclosed n/a | S+575 bp | Mar 18, 2030 |
| S••••• F•••• B• S••••••s: B••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | Jul 15, 2029 | |
| T•••• C•••• S•••••••• I•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| C••••••• G••••• W•••••••• W•• | preferred equity equity | Not disclosed | Not disclosed n/a | ||
| F•••••• S•••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| S•••••• M••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| L••••• C•••••••• L•••••• H•••••• L•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| R•• C••••••• I••• A• O•••• L••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| D• B••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| A•• H•••••••• L•• | unstated lien unstated | Not disclosed | Not disclosed |
Page 5 of 5Previous
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