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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, 2025
698 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| E••• I•• S••••••s: B••••••• | delayed draw term loan first lien | $3.2M | $3.2M 102c | SOFR+540 bp | Oct 30, 2030 |
| E••••••• H••••• I••• S••••••s: B••••••• | equity equity | $2,000 | $3.0M 124c | ||
| C••• S••••••s: B••••••• | delayed draw term loan first lien | $2.2M | $2.9M 98c | //www.baincapital.com/20260630#Sterling Overnight Index Average+1000 bp PIK 10.00% | May 22, 2032 |
| C••• S••••••s: B••••••• | delayed draw term loan first lien | $2.2M | $2.9M 98c | //www.baincapital.com/20251231#Sterling Overnight Index Average+1000 bp PIK 10.00% | May 22, 2032 |
| C•••• T••••••••• S•••••••• H••• T••• I••••••••• | delayed draw term loan first lien | $2.2M | $2.9M 105c | //www.baincapital.com/20260630#Sterling Overnight Index Average+252 bp PIK 5.48% | Oct 17, 2031 |
| C•••• T••••••••• S•••••••• H••• T••• I••••••••• | delayed draw term loan first lien | $2.2M | $2.9M 105c | //www.baincapital.com/20251231#Sterling Overnight Index Average+252 bp | Oct 17, 2031 |
| G•••• P•••• S• A••••••••• | revolver first lien | $2.9M | $2.8M 97c | SOFR+400 bp PIK 1.50% | May 17, 2029 |
| M••••••• C••••••••• L••• T••••••••• | revolver first lien | $2.8M | $2.8M 99c | SOFR+510 bp | Jul 17, 2028 |
| V••••• W•••• U••••••••: W•••• | delayed draw term loan first lien | $2.8M | $2.8M 101c | SOFR+450 bp | Jul 24, 2031 |
| A• S••••••• C••••••••• H••• T••• I••••••••• | preferred equity equity | $3,000 | $2.7M 85c | SOFR+1000 bp | |
| A• S••••••• C••••••••• H••• T••• I••••••••• | preferred equity equity | $3,000 | $2.7M 85c | SOFR+1000 bp | |
| A•••••••• A••••••••• C• L•• C•••••••••, P•••••••• & G•••• | revolver first lien | $2.7M | $2.7M 101c | SOFR+611 bp | Dec 29, 2027 |
| T••••••• L•• R••••• | term loan first lien | $5.4M | $2.7M 57c | SOFR+1011 bp PIK 10.11% | Jun 18, 2029 |
| P•••• T••••••• H••••, G••••• & L•••••• | term loan first lien | $2.7M | $2.7M 101c | SOFR+525 bp | Oct 23, 2029 |
| W••••••••• A•••••••• & D•••••• | term loan first lien | $2.7M | $2.7M 101c | SOFR+500 bp | Feb 15, 2029 |
| C•••• I••••••••• I••• C••••••••• & B••••••• | delayed draw term loan first lien | $2.7M | $2.6M 100c | SOFR+565 bp PIK 1.50% | Nov 11, 2027 |
| T•• H••••••• S••••••s: B••••••• | term loan first lien | $2.6M | $2.6M 100c | SOFR+400 bp | Apr 9, 2031 |
| T•• H••••••• S••••••s: B••••••• | term loan first lien | $2.6M | $2.6M 100c | SOFR+400 bp | Apr 9, 2031 |
| M••••• S••••• S••••••s: B••••••• | delayed draw term loan first lien | $2.6M | $2.6M 100c | SOFR+548 bp | Apr 25, 2028 |
| S•••••• I••• H••• T••• I••••••••• | equity equity | $1.5M | $2.6M 175c | ||
| R••••••• H••••••••• A•••••••• & D•••••• | equity equity | $1.6M | $2.6M 503c | ||
| O•• B•••• L•••••• M••••: A•••••••••, P••••••• & P••••••••• | delayed draw term loan first lien | $2.2M | $2.5M 97c | //www.baincapital.com/20260630#Sterling Overnight Index Average+625 bp | Jun 29, 2029 |
| I••••••••• S••••••s: B••••••• | term loan first lien | $2.5M | $2.5M 101c | SOFR+600 bp | Jan 31, 2029 |
| H•••••••• L• S••••••s: B••••••• | preferred equity equity | $1.9M | $2.5M 101c | S+1250 bp | |
| F•••• I•••••••• M••• | delayed draw term loan first lien | $2.1M | $2.5M 99c | //www.baincapital.com/20260630#Euro Interbank Offered Rate+500 bp | May 17, 2032 |
| B••• P•••••• A•••••••• L•• B•••••••, F••• & T•••••• | equity equity | $2.2M | $2.4M 108c | ||
| E•• H••••• H••••••••• & P••••••••• | equity equity | $2.2M | $2.4M 109c | ||
| R•••• S••••••s: B••••••• | equity equity | $1.5M | $2.4M 133c | ||
| A•• L••••••••• I••• T•••••••••: C•••• | term loan first lien | $2.7M | $2.4M 88c | SOFR+265 bp PIK 4.25% | Feb 3, 2028 |
| O•••••• H••••••••• & P••••••••• | equity equity | $22,000 | $2.4M 106c | ||
| S••••• S••••••s: B••••••• | term loan first lien | $2.0M | $2.3M 109c | //www.baincapital.com/20260630#Euro Interbank Offered Rate+650 bp | Feb 22, 2031 |
| F•••• F•••••• T••••• H••••••• | delayed draw term loan first lien | $2.3M | $2.3M 100c | SOFR+450 bp | Oct 2, 2028 |
| M••••• S••••• B••••••, Finance, I•••••••• & Real Estate | delayed draw term loan first lien | $2.3M | $2.3M 100c | SOFR+500 bp | Feb 15, 2029 |
| W••••••••• A•••••••• & D•••••• | delayed draw term loan first lien | $2.3M | $2.3M 100c | SOFR+500 bp | Feb 15, 2029 |
| A••••• I••••••••• H••••••••• & P••••••••• | equity equity | $34,000 | $2.3M 68c | ||
| H••••••••• H••••••••• & P••••••••• | preferred equity equity | $18,000 | $2.2M 121c | ||
| A•• L••••••••• I••• T•••••••••: C•••• | term loan first lien | $2.4M | $2.1M 88c | SOFR+265 bp PIK 4.25% | Feb 3, 2028 |
| A•••••• H•••••••• I••• H••• T••• I••••••••• | equity equity | $2.1M | $2.1M 129c | ||
| A•••••• H•••••••• I••• H••• T••• I••••••••• | equity equity | $2.1M | $2.1M 129c | ||
| A•• V••••• H••••••••• & P••••••••• | term loan first lien | $2.0M | $2.0M 100c | SOFR+590 bp | Mar 27, 2027 |
| E••••••••• M••••••• S•••••• S••••••s: B••••••• | equity equity | $148,000 | $2.0M 191c | ||
| P•••••• I••••••• L•• H••••••••• & P••••••••• | delayed draw term loan first lien | $2.2M | $2.0M 89c | SOFR+431 bp PIK 1.95% | Mar 31, 2026 |
| F•••• F•••••• I••••••• F•••••••• G•••• L•• | term loan first lien | $1.9M | $1.9M 99c | S+1000 bp PIK 10.00% | Aug 1, 2027 |
| A• S••••••• C••••••••• H••• T••• I••••••••• | preferred equity equity | $2,000 | $1.9M 86c | SOFR+1000 bp | |
| A• S••••••• C••••••••• H••• T••• I••••••••• | preferred equity equity | $2,000 | $1.9M 86c | SOFR+1000 bp | |
| T•••••• T••••••••• | equity equity | $2.3M | $1.9M 84c | ||
| A•••••••• S•••••••• B•••••••, F••• & T•••••• | revolver first lien | $1.9M | $1.9M 103c | SOFR+560 bp | Apr 2, 2029 |
| F•••••• S•••• A•••••••• & D•••••• | revolver first lien | $1.9M | $1.9M 100c | SOFR+560 bp | Aug 22, 2029 |
| A•••••• H•••••• G••• H••••••••• & P••••••••• | term loan first lien | $1.6M | $1.9M 101c | //www.baincapital.com/20260630#Euro Interbank Offered Rate+550 bp | Nov 15, 2032 |
| J••• H•••••••• L•• A••••••••• | revolver first lien | $1.8M | $1.8M 102c | Prime+425 bp | Sep 9, 2027 |
| J••• H•••••••• L•• A••••••••• | revolver first lien | $1.8M | $1.8M 102c | Prime+425 bp | Sep 9, 2027 |
| V••••••• B••• C•••••• | term loan unsecured or subordinated | $10,000 | $1.8M 18360c | ||
| T•• P••••••••• I••• C••••••• G••••: D•••••• | term loan first lien | $2.0M | $1.8M 94c | SOFR+576 bp | Oct 11, 2027 |
| P••••••••• H••• T••• I••••••••• | delayed draw term loan first lien | $1.6M | $1.8M 100c | //www.baincapital.com/20260630#Euro Interbank Offered Rate+325 bp PIK 3.70% | Apr 2, 2032 |
| R••••••••• H••• T••• I••••••••• | revolver first lien | $1.9M | $1.8M 100c | SOFR+700 bp | Dec 5, 2030 |
| R•••• S••••••s: B••••••• | delayed draw term loan first lien | $1.6M | $1.8M 106c | //www.baincapital.com/20260630#Euro Interbank Offered Rate+675 bp | Sep 12, 2031 |
| R•••••••• I••• H••• T••• I••••••••• | delayed draw term loan first lien | $2.0M | $1.8M 92c | SOFR+490 bp | Apr 15, 2027 |
| E••• I•• S••••••s: B••••••• | revolver first lien | $1.8M | $1.8M 104c | SOFR+540 bp | Oct 30, 2030 |
| T••••••• L•• R••••• | term loan first lien | $1.7M | $1.7M 113c | SOFR+1011 bp PIK 10.11% | Jun 18, 2029 |
| N•••••• H••••••••• & P••••••••• | delayed draw term loan first lien | $1.5M | $1.7M 113c | //www.baincapital.com/20260630#Euro Interbank Offered Rate+525 bp | Aug 29, 2031 |
| A• S••••••• C••••••••• H••• T••• I••••••••• | preferred equity equity | $2,000 | $1.6M 85c | SOFR+1000 bp | |
| A• S••••••• C••••••••• H••• T••• I••••••••• | preferred equity equity | $2,000 | $1.6M 85c | SOFR+1000 bp | |
| A•••• 1••• G••• M••••: D••••••••• & P••••••••• | delayed draw term loan first lien | $5.5M | $1.6M 32c | SOFR+715 bp PIK 7.15% | Mar 3, 2028 |
| M••••• C••••••••• S••••••s: C••••••• | term loan first lien | $1.7M | $1.6M 97c | SOFR+875 bp | Jun 21, 2029 |
| M•• B••••• L•• S••••••s: C••••••• | revolver first lien | $1.7M | $1.6M 95c | SOFR+690 bp PIK 0.50% | Dec 22, 2028 |
| O•••••• H••••••••• & P••••••••• | term loan first lien | $1.6M | $1.6M 101c | SOFR+525 bp | May 21, 2031 |
| F•••• A• B•••• P•• L•• W•••••••• | term loan first lien | $2.4M | $1.6M 103c | //www.baincapital.com/20260630#Bank Bill Swap Bid Rate BBSY+500 bp | Aug 1, 2031 |
| S•••••• M••••• C••••••••• & B••••••• | term loan first lien | $1.6M | $1.6M 101c | SOFR+586 bp PIK 1.00% | Aug 16, 2027 |
| S•••••• M••••• C••••••••• & B••••••• | term loan first lien | $1.6M | $1.6M 101c | SOFR+586 bp PIK 1.00% | Aug 16, 2027 |
| S•••••••• B•••••••, F••• & T•••••• | subordinated debt unsecured or subordinated | $1.6M | $1.6M 103c | S+1375 bp PIK 13.75% | Feb 19, 2033 |
| D••• S••••••s: B••••••• | equity equity | $2.0M | $1.6M 229c | ||
| F•••••• S•••• A•••••••• & D•••••• | equity equity | $930,000 | $1.5M 166c | ||
| L•••••••• F•••• L•••••• M••••: B••••••••• & S••••••••• | term loan first lien | $1.3M | $1.5M 106c | //www.baincapital.com/20260630#Euro Interbank Offered Rate+550 bp | Aug 31, 2028 |
| E••••• H••• T••• I••••••••• | revolver first lien | $1.5M | $1.5M 100c | SOFR+810 bp | Sep 25, 2026 |
| D•••• P••••••• S••••••s: B••••••• | term loan first lien | $1.5M | $1.5M 100c | SOFR+775 bp | Jun 1, 2028 |
| F•••• F•••••• A••••••• F•••••••• G••••• L••• | term loan first lien | $1.5M | $1.5M 100c | SOFR+475 bp | Dec 23, 2027 |
| C••• B•• H••••, G••••• & L•••••• | preferred equity equity | $5,000 | $1.4M 114c | ||
| B•• P•••••••• A•••••••• & D•••••• | term loan first lien | $1.4M | $1.4M 101c | SOFR+475 bp | Jul 25, 2030 |
| L•••••••• F•••• L•••••• M••••: B••••••••• & S••••••••• | term loan first lien | $1.4M | $1.4M 100c | SOFR+593 bp | Aug 31, 2028 |
| P••• W•••• S••••••s: B••••••• | delayed draw term loan first lien | $1.4M | $1.4M 101c | SOFR+535 bp | Nov 12, 2030 |
| P••• W•••• S••••••s: B••••••• | equity equity | $1.2M | $1.4M 112c | ||
| F•••• F•••••• L•• S•• C••••••••• L••• | equity equity | $1.0M | $1.3M 102c | ||
| M•••• C••••••• G•••• B•••• G••• M••••: D••••••••• & P••••••••• | term loan first lien | $4.5M | $1.3M 33c | SOFR+715 bp PIK 7.15% | Mar 3, 2028 |
| A•••••• H••••, G••••• & L•••••• | term loan first lien | $1.3M | $1.3M 101c | SOFR+525 bp | May 6, 2032 |
| I••• L••••••••• I•• T•••••••••: C•••• | delayed draw term loan first lien | $1.4M | $1.3M 97c | SOFR+625 bp | Mar 1, 2029 |
| F••••••• T••••••••• I••• C••••••• G••••: N••••••••• | equity equity | $939,000 | $1.3M 137c | ||
| F•••• F•••••• L••••• C•••••••• L•••••• H•••••• L•• | equity equity | $1,000 | $1.3M 143c | ||
| F•••• I•••••••• M••••••• A••••••••• I••• | delayed draw term loan first lien | $948,000 | $1.3M 102c | //www.baincapital.com/20260630#Sterling Overnight Index Average+487 bp | Dec 19, 2027 |
| A•••••• G•••• H••••••• L••• W•••••••• | revolver first lien | $2.1M | $1.3M 66c | SOFR+205 bp PIK 4.60% | Jul 6, 2028 |
| T•••••• T••••••••• | revolver first lien | $1.3M | $1.3M 98c | SOFR+725 bp | Feb 28, 2029 |
| C••••••• G••••• W•••••••• W•• | term loan first lien | $3.3M | $1.3M 42c | SOFR+125 bp | Apr 27, 2028 |
| A••••••• C••• A••••••• H••••• L•• H••••••••• & P••••••••• | term loan first lien | $1.3M | $1.3M 100c | SOFR+500 bp | Aug 20, 2030 |
| E•••••••• C••••••••• R••••• M•••••••• C••••••• L•• M••••: D••••••••• & P••••••••• | revolver first lien | $1.3M | $1.3M 101c | SOFR+661 bp | Sep 30, 2026 |
| G•••• P•••• S• A••••••••• | delayed draw term loan first lien | $1.2M | $1.2M 99c | SOFR+400 bp PIK 1.50% | May 17, 2029 |
| G•••• P•••• S• A••••••••• | delayed draw term loan first lien | $1.2M | $1.2M 99c | SOFR+550 bp PIK 1.50% | May 17, 2029 |
| E•• C••••••••• & B••••••• | preferred equity equity | $72,000 | $1.2M 163c | ||
| F•••• A• B•••• P•• L•• W•••••••• | revolver first lien | $1.2M | $1.2M 100c | SOFR+500 bp | Aug 1, 2031 |
| P•••••••• U••••••• H•••••••• L•• A•••••••• & D•••••• | equity equity | $620,000 | $1.1M 147c | ||
| B•••• B•••• S••••••s: B••••••• | term loan first lien | $920,000 | $1.1M 90c | //www.baincapital.com/20260630#Sterling Overnight Index Average+187 bp PIK 5.66% | Jul 10, 2028 |
| E••••• H••• T••• I••••••••• | preferred equity equity | $896,000 | $1.1M 122c |
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