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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 Jun 30, 2025
593 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| L•• C• C••••••••• L••• S••••••s: B••••••• | equity equity | $287,000 | $395,000 104c | ||
| N•• L••• V••••• G•••• R••••• | delayed draw term loan first lien | $389,000 | $389,000 100c | SOFR+415 bp PIK 2.00% | May 26, 2028 |
| C••• F•••• F••••• L•• W•••••••• | revolver first lien | $387,000 | $369,000 100c | SOFR+600 bp | Jun 6, 2031 |
| H••••••••• H••••••••• & P••••••••• | revolver first lien | $367,000 | $367,000 100c | SOFR+610 bp | Aug 20, 2029 |
| R••••• O••••••••• ••••••• R••••••••• H••••••••• & P••••••••• | term loan first lien | $362,000 | $360,000 100c | SOFR+500 bp | Feb 28, 2031 |
| A•••••• H••••, G••••• & L•••••• | revolver first lien | $369,000 | $356,000 100c | SOFR+525 bp | May 6, 2032 |
| A•••••• H••• T••• I••••••••• | revolver first lien | $380,000 | $354,000 100c | SOFR+500 bp | Mar 10, 2031 |
| G•••••• I••••••••• H••••••• L•• T•••••••••: C•••• | equity equity | $1.0M | $347,000 34c | ||
| M•• B••••• L•• S••••••s: C••••••• | term loan first lien | $317,000 | $298,000 95c | SOFR+700 bp PIK 0.50% | Dec 22, 2028 |
| H•••••• B•••••••, F••• & T•••••• | subordinated debt unsecured or subordinated | $492,000 | $294,000 97c | S+1500 bp PIK 15.00% | Mar 27, 2031 |
| H••••••••• H••••••••• & P••••••••• | delayed draw term loan first lien | $270,000 | $270,000 100c | SOFR+610 bp | Aug 20, 2029 |
| F•••• F•••••• I••••••• F•••••••• G•••• L•• | term loan first lien | $267,000 | $267,000 102c | SOFR+660 bp | Aug 1, 2028 |
| F•••• I••••••••• A••••••••• I•••••••• L••• | delayed draw term loan first lien | $264,000 | $264,000 101c | SOFR+490 bp | Dec 19, 2027 |
| U•••••• H••• T••• I••••••••• | term loan first lien | $262,000 | $262,000 100c | SOFR+575 bp | May 14, 2029 |
| M••••• 5••• G••• H••••••••• & P••••••••• | term loan first lien | $228,000 | $259,000 102c | //www.baincapital.com/20250630#Euro Interbank Offered Rate+625 bp PIK 0.75% | May 28, 2028 |
| F•••• I•••••••• M••••••• A••••••••• I•••••••• L••• | term loan first lien | $250,000 | $250,000 101c | SOFR+490 bp | Dec 19, 2027 |
| c••• S••••••s: B••••••• | delayed draw term loan first lien | $244,000 | $244,000 100c | SOFR+300 bp PIK 4.20% | May 20, 2031 |
| R•••• S••••••s: B••••••• | preferred equity equity | $200,000 | $235,000 105c | ||
| H•••• C••••••• G••••: N••••••••• | term loan first lien | $230,000 | $230,000 101c | SOFR+525 bp | Oct 25, 2029 |
| M••••• C••••••••• S••••••s: C••••••• | revolver first lien | $217,000 | $212,000 100c | SOFR+875 bp | Jun 21, 2029 |
| O•••• S••••••s: B••••••• | delayed draw term loan first lien | $206,000 | $191,000 97c | SOFR+500 bp | Mar 19, 2027 |
| G•••• P•••• S• A••••••••• | equity equity | $2,000 | $191,000 89c | ||
| O•• B•••• L•••••• M••••: A•••••••••, P••••••• & P••••••••• | term loan first lien | $139,000 | $181,000 110c | //www.baincapital.com/20250630#Sterling Overnight Index Average+625 bp | Jun 29, 2029 |
| A• P••••••• G••••• L•• C••••••••, P••••••• & R••••• | delayed draw term loan first lien | $176,000 | $176,000 100c | SOFR+485 bp | Aug 10, 2030 |
| M••••• C••••••••• S••••••s: C••••••• | delayed draw term loan first lien | $183,000 | $175,000 96c | SOFR+875 bp | Jun 21, 2029 |
| O•••• S••••••s: B••••••• | term loan first lien | $123,000 | $168,000 100c | //www.baincapital.com/20250630#Sterling Overnight Index Average+553 bp | May 5, 2028 |
| B•••• B•••• S••••••s: B••••••• | term loan first lien | $129,000 | $160,000 92c | SOFR+198 bp PIK 5.70% | Jul 10, 2028 |
| C•••••••• H••• T••• I••••••••• | warrants equity | $1,000 | $158,000 | ||
| O•••• S••••••s: B••••••• | revolver first lien | $169,000 | $158,000 101c | SOFR+500 bp | Mar 19, 2027 |
| M••••• 5••• G••• H••••••••• & P••••••••• | term loan first lien | $133,000 | $151,000 103c | //www.baincapital.com/20250630#Euro Interbank Offered Rate+625 bp PIK 0.75% | May 28, 2028 |
| F•••• F•••••• S••••• | warrants equity | $2,000 | $147,000 | ||
| P••• S••••••s: B••••••• | term loan first lien | $143,000 | $142,000 96c | SOFR+550 bp | Dec 20, 2030 |
| E••••• H••• T••• I••••••••• | preferred equity equity | $109,000 | $134,000 123c | ||
| M•• B••••• L•• S••••••s: C••••••• | term loan first lien | $137,000 | $129,000 95c | SOFR+700 bp PIK 0.50% | Dec 22, 2028 |
| U•••••• H••• T••• I••••••••• | term loan first lien | $128,000 | $128,000 101c | //fasb.org/us-gaap/2024#Base Rate+575 bp | May 14, 2029 |
| N•••••• H••••••••• & P••••••••• | revolver first lien | $107,000 | $120,000 110c | //www.baincapital.com/20250630#Euro Interbank Offered Rate+525 bp | May 30, 2031 |
| i•••••••• S••••••s: B••••••• | term loan first lien | $99,000 | $116,000 113c | S+1000 bp PIK 10.00% | Jul 13, 2028 |
| V• G••••• H••••••• L•• C••••••••, P••••••• & R••••• | term loan first lien | $97,000 | $110,000 109c | //www.baincapital.com/20250630#Euro Interbank Offered Rate+575 bp | Dec 22, 2027 |
| A••••• H••• T••• I••••••••• | term loan first lien | $80,000 | $109,000 110c | SOFR+500 bp | Jun 28, 2029 |
| U•••••• H••• T••• I••••••••• | term loan first lien | $92,000 | $109,000 110c | //www.baincapital.com/20250630#Euro Interbank Offered Rate+575 bp | May 14, 2029 |
| M•• A••••••••• S••••••s: C••••••• | equity equity | $1,000 | $103,000 13c | ||
| C••• S••••••s: B••••••• | delayed draw term loan first lien | $100,000 | $102,000 100c | SOFR+719 bp | May 20, 2031 |
| C•••• A••••••••• | term loan first lien | $98,000 | $98,000 101c | SOFR+525 bp | May 12, 2028 |
| F•••• I•••••••• M••••••• A••••••••• I••• | term loan first lien | $95,000 | $95,000 101c | SOFR+490 bp | Dec 19, 2027 |
| T•• S•••• B•••• P•• L•• M••••: A•••••••••, P••••••• & P••••••••• | delayed draw term loan first lien | $69,000 | $95,000 108c | //www.baincapital.com/20250630#Sterling Overnight Index Average+612 bp | Jun 24, 2029 |
| R••••••• E••••••••• I••••••••• | term loan first lien | $68,000 | $93,000 112c | //www.baincapital.com/20250630#Sterling Overnight Index Average+650 bp | Jul 12, 2029 |
| W••••••••• S••••••s: B••••••• | delayed draw term loan first lien | $87,000 | $87,000 100c | //www.baincapital.com/20250630#Sterling Overnight Index Average+625 bp | Dec 18, 2030 |
| D•••• B•••• L•••••• S••••••s: B••••••• | revolver first lien | $60,000 | $82,000 101c | //www.baincapital.com/20250630#Sterling Overnight Index Average+525 bp | Oct 30, 2030 |
| T•• S•••• B•••• P•• L•• M••••: A•••••••••, P••••••• & P••••••••• | delayed draw term loan first lien | $106,000 | $73,000 100c | SOFR+711 bp | Apr 30, 2026 |
| G••••••••• Capital E•••••••• | delayed draw term loan first lien | $50,000 | $68,000 106c | //www.baincapital.com/20250630#Sterling Overnight Index Average+525 bp | Feb 10, 2032 |
| F•••• F•••••• A••••• B•••• L•••••• | term loan first lien | $50,000 | $68,000 105c | //www.baincapital.com/20250630#Sterling Overnight Index Average+625 bp | Apr 16, 2032 |
| O•• A••••••••• L•• S••••••s: C••••••• | revolver first lien | $77,000 | $68,000 100c | SOFR+475 bp | Apr 17, 2032 |
| T•• S•••• B•••• P•• L•• M••••: A•••••••••, P••••••• & P••••••••• | term loan first lien | $98,000 | $65,000 86c | //www.baincapital.com/20250630#Bank Bill Swap Bid Rate+700 bp | Apr 30, 2026 |
| N•••••• H••••••••• & P••••••••• | term loan first lien | $52,000 | $61,000 109c | //www.baincapital.com/20250630#Euro Interbank Offered Rate+525 bp | Aug 29, 2031 |
| F•••• I••••••••• A••••••••• I••• | delayed draw term loan first lien | $44,000 | $60,000 136c | SOFR+475 bp | Dec 19, 2027 |
| G••••••••• Capital E•••••••• | delayed draw term loan first lien | Not disclosed | $59,000 | S+525 bp | Feb 10, 2032 |
| G••••••••• Capital E•••••••• | delayed draw term loan first lien | $50,000 | $59,000 116c | //www.baincapital.com/20250630#Euro Interbank Offered Rate+525 bp | Feb 10, 2032 |
| F••••••••• J•••••••• F•••• ••••• S••••••s: B••••••• | delayed draw term loan first lien | $50,000 | $58,000 105c | //www.baincapital.com/20250630#Euro Interbank Offered Rate+550 bp | Apr 3, 2032 |
| P••••••••• H••• T••• I••••••••• | delayed draw term loan first lien | $50,000 | $58,000 107c | //www.baincapital.com/20250630#Euro Interbank Offered Rate+276 bp PIK 3.74% | Apr 2, 2032 |
| F•••• F•••••• P•• | term loan first lien | $58,000 | $58,000 102c | SOFR+550 bp | Jan 31, 2031 |
| P•••••••• S••••••s: B••••••• | term loan first lien | $47,000 | $54,000 93c | //www.baincapital.com/20250630#Sterling Overnight Index Average+700 bp | Nov 26, 2031 |
| G••••••••• Capital E•••••••• | term loan first lien | $50,000 | $50,000 100c | SOFR+525 bp | Feb 10, 2032 |
| F•••• G••••• M••••: A•••••••••, P••••••• & P••••••••• | delayed draw term loan first lien | $50,000 | $50,000 100c | SOFR+525 bp | Dec 20, 2031 |
| F•••• G••••• M••••: A•••••••••, P••••••• & P••••••••• | delayed draw term loan first lien | $50,000 | $50,000 100c | SOFR+525 bp | Dec 20, 2031 |
| N•• L••• V••••• G•••• R••••• | delayed draw term loan first lien | $54,000 | $40,000 93c | //www.baincapital.com/20250630#Canadian Overnight Repo Rate Average+582 bp | May 26, 2028 |
| S••••• B•••• L•••••• S••••••s: C••••••• | term loan first lien | $68,000 | $38,000 49c | S+728 bp PIK 7.28% | May 11, 2026 |
| E••••• G•••• S••••••s: B••••••• | revolver first lien | $52,000 | $36,000 86c | Prime+450 bp | Apr 9, 2030 |
| S•••••• M••••• C••••••••• & B••••••• | preferred equity equity | Not disclosed | $33,000 20c | ||
| H•••••• B•••••••, F••• & T•••••• | delayed draw term loan first lien | $51,000 | $33,000 94c | //www.baincapital.com/20250630#Bank Bill Swap Bid Rate+331 bp PIK 2.19% | Sep 27, 2030 |
| R••••••• E••••••••• I••••••••• | term loan first lien | $27,000 | $32,000 114c | //www.baincapital.com/20250630#Euro Interbank Offered Rate+625 bp | Jul 12, 2029 |
| H•••••• B•••••••, F••• & T•••••• | delayed draw term loan first lien | $47,000 | $28,000 100c | //www.baincapital.com/20250630#Bank Bill Benchmark Rate+331 bp PIK 2.19% | Sep 27, 2030 |
| A•• S••••••s: B••••••• | revolver first lien | $26,000 | $26,000 -289c | SOFR+525 bp | Oct 17, 2031 |
| P••••••••• P•• I••••••••• I• L•• C••••••••, P••••••• & R••••• | revolver first lien | $38,000 | $24,000 96c | SOFR+700 bp | Feb 7, 2030 |
| G•••••• R••••• | equity equity | $101,000 | $24,000 109c | ||
| N•• L••• V••••• G•••• R••••• | delayed draw term loan first lien | $28,000 | $21,000 78c | //www.baincapital.com/20250630#Canadian Overnight Repo Rate Average+582 bp | May 26, 2028 |
| W••••••••• S••••••s: B••••••• | delayed draw term loan first lien | $17,000 | $20,000 111c | //www.baincapital.com/20250630#Euro Interbank Offered Rate+625 bp | Dec 18, 2030 |
| T•••••• T••••••••• | equity equity | $20,000 | $18,000 90c | ||
| T•• G••••• S••••••s: B••••••• | delayed draw term loan first lien | $12,000 | $17,000 113c | //www.baincapital.com/20250630#Sterling Overnight Index Average+500 bp | Jan 27, 2029 |
| F•••• I••••••••• A••••••••• I••• | delayed draw term loan first lien | $7,000 | $7,000 100c | SOFR+490 bp | Dec 19, 2027 |
| C•••••••• H••• T••• I••••••••• | subordinated debt unsecured or subordinated | $6,297 | $6,297 101c | S+1600 bp PIK 16.00% | Oct 4, 2030 |
| S• G••••• M•••• L•••••• S••••••s: C••••••• | term loan first lien | $2,000 | $3,000 100c | S+1000 bp | May 11, 2026 |
| A• S••••••• C••••••••• H••• T••• I••••••••• | preferred equity equity | $3,000 | $2,911 97c | SOFR+1000 bp | |
| A• S••••••• C••••••••• H••• T••• I••••••••• | preferred equity equity | $2 | $2,032 98c | SOFR+1000 bp | |
| M•• A••••••••• S••••••s: C••••••• | equity equity | Not disclosed | $2,000 17c | ||
| A• S••••••• C••••••••• H••• T••• I••••••••• | preferred equity equity | $2,000 | $1,747 0c | SOFR+1000 bp | |
| D••••••••• Capital E•••••••• | term loan first lien | $1,000 | $1,000 100c | SOFR+376 bp | Dec 22, 2028 |
| A• S••••••• C••••••••• H••• T••• I••••••••• | preferred equity equity | $1 | $791 100c | SOFR+1000 bp | |
| P••••••• H••• T••• I••••••••• | revolver first lien | Not disclosed | $0 0c | S+525 bp | Oct 31, 2030 |
| T••••••• L•• R••••• | equity equity | $8,000 | $0 0c | ||
| G••••••• S•••••••• ••• B•••• M•••••••• H••• T••• I••••••••• | delayed draw term loan first lien | Not disclosed | $0 0c | S+500 bp | Oct 7, 2030 |
| T••••••• L•• R••••• | equity equity | $70,000 | $0 0c | ||
| R•• N•••••• H••••••••• & P••••••••• | delayed draw term loan first lien | Not disclosed | $0 0c | S+525 bp | Oct 17, 2031 |
| N•• I••••••••• I••• B•••••••, F••• & T•••••• | equity equity | $240,000 | $0 0c | ||
| W••••••••• A•••••••• & D•••••• | delayed draw term loan first lien | $0 | $0 | S+550 bp | Feb 15, 2029 |
| O•••••• H••••••••• & P••••••••• | revolver first lien | Not disclosed | $0 0c | S+525 bp | Nov 21, 2030 |
| O•• A••••••••• L•• S••••••s: C••••••• | delayed draw term loan first lien | Not disclosed | -$2,000 100c | S+475 bp | Apr 17, 2032 |
| N•• M••••• G•••• L•• C••••••• G••••: D•••••• | delayed draw term loan first lien | Not disclosed | -$2,000 100c | S+475 bp | Jun 26, 2031 |
| C•••••••• Y•••• L•• S••••••s: C••••••• | delayed draw term loan first lien | Not disclosed | -$2,000 100c | S+575 bp | Apr 30, 2031 |
| C••• S••••••s: B••••••• | delayed draw term loan first lien | Not disclosed | -$3,000 100c | May 20, 2031 | |
| A••••••• A•••••• S••••••s: B••••••• | revolver first lien | Not disclosed | -$3,000 | S+650 bp | Jul 26, 2030 |
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