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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 |
|---|---|---|---|---|---|
| M••• 1• B•••• L•••••• S••••••s: B••••••• | delayed draw term loan first lien | $153,000 | $151,000 100c | SOFR+300 bp PIK 4.40% | May 20, 2031 |
| i•••••••• S••••••s: B••••••• | term loan first lien | $120,000 | $141,000 109c | //www.baincapital.com/20260630#Euro Interbank Offered Rate+975 bp PIK 9.75% | Jul 13, 2028 |
| P••• S••••••s: B••••••• | term loan first lien | $142,000 | $140,000 99c | SOFR+550 bp | Dec 20, 2030 |
| E••••• H••• T••• I••••••••• | preferred equity equity | $109,000 | $133,000 122c | ||
| S•••••• M••••• C••••••••• & B••••••• | term loan first lien | $130,000 | $130,000 100c | SOFR+601 bp PIK 1.00% | Dec 31, 2029 |
| S•••••• M••••• C••••••••• & B••••••• | term loan first lien | $130,000 | $130,000 100c | SOFR+601 bp PIK 1.00% | Dec 31, 2029 |
| F•••• F•••••• C••••• | delayed draw term loan first lien | $128,000 | $128,000 100c | SOFR+500 bp | Feb 18, 2028 |
| N•••••• H••••••••• & P••••••••• | revolver first lien | $107,000 | $123,000 113c | //www.baincapital.com/20251231#Euro Interbank Offered Rate+525 bp | May 30, 2031 |
| N•••••• H••••••••• & P••••••••• | revolver first lien | $107,000 | $123,000 113c | //www.baincapital.com/20260630#Euro Interbank Offered Rate+525 bp | May 30, 2031 |
| A••••• H••• T••• I••••••••• | term loan first lien | $80,000 | $108,000 109c | //www.baincapital.com/20260630#Sterling Overnight Index Average+525 bp | Jun 28, 2029 |
| V• G••••• H••••••• L•• C••••••••, P••••••• & R••••• | term loan first lien | $97,000 | $107,000 106c | //www.baincapital.com/20260630#Euro Interbank Offered Rate+575 bp | Dec 22, 2027 |
| V• G••••• H••••••• L•• C••••••••, P••••••• & R••••• | term loan first lien | $97,000 | $107,000 106c | //www.baincapital.com/20251231#Euro Interbank Offered Rate+575 bp | Dec 22, 2027 |
| G•••• P•••• S• A••••••••• | equity equity | $2,000 | $104,000 48c | ||
| C••• S••••••s: B••••••• | delayed draw term loan first lien | $121,000 | $103,000 98c | SOFR+300 bp PIK 4.40% | May 20, 2031 |
| C•••• A••••••••• | term loan first lien | $98,000 | $98,000 101c | SOFR+525 bp | May 12, 2028 |
| 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 |
| U•••••• H••• T••• I••••••••• | term loan first lien | $94,000 | $94,000 101c | SOFR+593 bp | May 14, 2029 |
| T•• S•••• B•••• P•• L•• M••••: A•••••••••, P••••••• & P••••••••• | delayed draw term loan first lien | $69,000 | $93,000 106c | //www.baincapital.com/20260630#Sterling Overnight Index Average+603 bp | Jun 24, 2029 |
| R••••••• E••••••••• I••••••••• | term loan first lien | $68,000 | $91,000 110c | //www.baincapital.com/20260630#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/20260630#Euro Interbank Offered Rate+650 bp | Dec 18, 2030 |
| U•••••• H••• T••• I••••••••• | term loan first lien | $67,000 | $79,000 110c | //www.baincapital.com/20260630#Euro Interbank Offered Rate+550 bp | May 14, 2029 |
| E••••••••• P••••••• C••• L•• L••• Capital E•••••••• | revolver first lien | $85,000 | $79,000 100c | SOFR+475 bp | Aug 12, 2031 |
| M•• A••••••••• S••••••s: C••••••• | equity equity | $1,000 | $75,000 9c | ||
| 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 | $67,000 105c | //www.baincapital.com/20260630#Sterling Overnight Index Average+525 bp | Feb 10, 2032 |
| F•••• F•••••• A••••• B•••• L•••••• | term loan first lien | $50,000 | $66,000 102c | //www.baincapital.com/20260630#Sterling Overnight Index Average+625 bp | Apr 16, 2032 |
| T•• S•••• B•••• P•• L•• M••••: A•••••••••, P••••••• & P••••••••• | term loan first lien | $98,000 | $66,000 87c | //www.baincapital.com/20260630#Bank Bill Swap Bid Rate+700 bp | Apr 30, 2026 |
| V••• F•••••• B••••• I•• S••••••s: C••••••• | term loan first lien | $66,000 | $65,000 93c | SOFR+635 bp | Aug 15, 2030 |
| N•••••• H••••••••• & P••••••••• | term loan first lien | $52,000 | $61,000 109c | //www.baincapital.com/20260630#Euro Interbank Offered Rate+525 bp | Aug 29, 2031 |
| P••••••••• P•• I••••••••• I• L•• C••••••••, P••••••• & R••••• | revolver first lien | $73,000 | $60,000 97c | SOFR+700 bp | Feb 7, 2030 |
| G••••••••• Capital E•••••••• | delayed draw term loan first lien | $50,000 | $59,000 116c | //www.baincapital.com/20260630#Euro Interbank Offered Rate+525 bp | Feb 10, 2032 |
| G••••••••• Capital E•••••••• | delayed draw term loan first lien | $50,000 | $59,000 116c | //www.baincapital.com/20260630#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/20260630#Euro Interbank Offered Rate+550 bp | Apr 3, 2032 |
| F•••• F•••••• P•• | term loan first lien | $58,000 | $58,000 102c | SOFR+475 bp | Jan 31, 2031 |
| F•••• F•••••• P•• | term loan first lien | $58,000 | $58,000 102c | SOFR+475 bp | Jan 31, 2031 |
| P•••••••• S••••••s: B••••••• | term loan first lien | $49,000 | $56,000 90c | //www.baincapital.com/20260630#Sterling Overnight Index Average+700 bp | Nov 26, 2031 |
| B••• S••••••••• I••••••••• L•• C••••••••• & B••••••• | preferred equity equity | Not disclosed | $55,000 196c | ||
| c••• S••••••s: B••••••• | delayed draw term loan first lien | $53,000 | $53,000 100c | SOFR+200 bp PIK 4.50% | May 20, 2031 |
| C••• S••••••s: B••••••• | delayed draw term loan first lien | $53,000 | $53,000 100c | SOFR+200 bp PIK 4.50% | May 20, 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 | $49,000 98c | SOFR+525 bp | Dec 20, 2031 |
| F•••• G••••• M••••: A•••••••••, P••••••• & P••••••••• | delayed draw term loan first lien | $50,000 | $49,000 98c | SOFR+525 bp | Dec 20, 2031 |
| G•••• P•••• S• A••••••••• | preferred equity equity | Not disclosed | $39,000 195c | ||
| N•• L••• V••••• G•••• R••••• | delayed draw term loan first lien | $54,000 | $39,000 91c | //www.baincapital.com/20260630#Canadian Overnight Repo Rate Average+525 bp PIK 5.25% | May 26, 2028 |
| H•••••• B•••••••, F••• & T•••••• | delayed draw term loan first lien | $51,000 | $33,000 94c | //www.baincapital.com/20260630#Bank Bill Swap Bid Rate+363 bp PIK 1.88% | Sep 27, 2030 |
| R••••••• E••••••••• I••••••••• | term loan first lien | $27,000 | $32,000 114c | //www.baincapital.com/20260630#Euro Interbank Offered Rate+625 bp | Jul 12, 2029 |
| P•••••••• C••••••• P••••• I••• C•••••••••, P•••••••• & G•••• | revolver first lien | $36,000 | $32,000 100c | SOFR+475 bp | Aug 2, 2032 |
| H•••••• B•••••••, F••• & T•••••• | delayed draw term loan first lien | $47,000 | $27,000 96c | //www.baincapital.com/20260630#Bank Bill Benchmark Rate+363 bp PIK 1.88% | Sep 27, 2030 |
| G•••••• R••••• | equity equity | $101,000 | $24,000 109c | ||
| S••••• B•••• L•••••• S••••••s: C••••••• | term loan first lien | $69,000 | $22,000 29c | //www.baincapital.com/20260630#Sterling Overnight Index Average+728 bp PIK 7.28% | Dec 31, 2028 |
| W••••••••• S••••••s: B••••••• | delayed draw term loan first lien | $17,000 | $20,000 111c | //www.baincapital.com/20260630#Euro Interbank Offered Rate+650 bp | Dec 18, 2030 |
| N•• L••• V••••• G•••• R••••• | delayed draw term loan first lien | $28,000 | $20,000 77c | //www.baincapital.com/20260630#Canadian Overnight Repo Rate Average+525 bp PIK 5.25% | May 26, 2028 |
| A•••••• G••••• C•• A••••••••• I••• Capital E•••••••• | revolver first lien | $19,000 | $19,000 100c | SOFR+650 bp | Aug 27, 2030 |
| F•••• F•••••• M•••••• F••••• L•• | delayed draw term loan first lien | $18,000 | $18,000 100c | SOFR+425 bp | Oct 29, 2032 |
| T•••••• T••••••••• | equity equity | $20,000 | $17,000 85c | ||
| T•• G••••• S••••••s: B••••••• | delayed draw term loan first lien | $12,000 | $16,000 107c | //www.baincapital.com/20260630#Sterling Overnight Index Average+500 bp | Jan 27, 2029 |
| M•• A••••••••• S••••••s: C••••••• | equity equity | Not disclosed | $15,000 125c | ||
| A••••••••• H••• T••• I••••••••• | equity equity | $20,000 | $8,000 73c | ||
| F•••• I•••••••• M••••••• A••••••••• I••• | delayed draw term loan first lien | $7,000 | $7,000 100c | SOFR+490 bp | Dec 19, 2027 |
| S• G••••• M•••• L•••••• S••••••s: C••••••• | term loan first lien | $2,000 | $3,000 100c | S+1000 bp | Dec 31, 2028 |
| A•••••• H••••, G••••• & L•••••• | delayed draw term loan first lien | Not disclosed | $0 0c | S+525 bp | May 6, 2032 |
| A•••••• H••••, G••••• & L•••••• | revolver first lien | Not disclosed | $0 0c | S+525 bp | May 6, 2032 |
| E••• B•• C••••••• I•• L•• Capital E•••••••• | equity equity | $1.4M | $0 0c | ||
| A•• P••••• L•• B•••••••, F••• & T•••••• | equity equity | $6.7M | $0 0c | ||
| W• H•••••• I••• C••••••• G••••: N••••••••• | delayed draw term loan first lien | Not disclosed | $0 0c | S+475 bp | Apr 15, 2032 |
| A•• I••••••• H••••••••• & P••••••••• | revolver first lien | Not disclosed | -$2,000 50c | S+500 bp | Mar 19, 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 |
| A•• A••••••• G•••• S••••••• A••••••••• L•• C••••••••• & B••••••• | revolver first lien | Not disclosed | -$2,000 100c | S+550 bp | Jul 24, 2031 |
| V••• F••••••• L•• S••••••s: C••••••• | revolver first lien | Not disclosed | -$3,000 150c | S+635 bp | Aug 15, 2030 |
| F•••• I•••••••• M••••••• A••••••••• I••• | revolver first lien | Not disclosed | -$3,000 100c | Dec 20, 2027 | |
| A•• I••••••• H••••••••• & P••••••••• | delayed draw term loan first lien | Not disclosed | -$3,000 60c | S+500 bp | Mar 19, 2032 |
| F•••• I•••••••• M••••••• A••••••••• I••• | revolver first lien | Not disclosed | -$3,000 100c | Dec 20, 2027 | |
| E•• A••••••••• I••• L••• Capital E•••••••• | revolver first lien | Not disclosed | -$3,000 100c | S+525 bp | Dec 19, 2031 |
| A• P••••••• G••••• L•• C••••••••, P••••••• & R••••• | delayed draw term loan first lien | Not disclosed | -$3,000 100c | S+485 bp | Aug 10, 2030 |
| C•• H••••••••• P••••••••• I••• H••••••••• & P••••••••• | revolver first lien | Not disclosed | -$4,000 100c | S+525 bp | Sep 17, 2031 |
| A•• A••••••• G•••• S••••••• A••••••••• L•• C••••••••• & B••••••• | delayed draw term loan first lien | Not disclosed | -$5,000 500c | S+550 bp | Jul 24, 2031 |
| E•••••••• N••••• L•• M••••• & M••••• | revolver first lien | Not disclosed | -$5,000 100c | S+575 bp | Aug 1, 2031 |
| H•••••• B•••••••, F••• & T•••••• | delayed draw term loan first lien | Not disclosed | -$5,000 38c | S+363 bp | Sep 27, 2030 |
| A•••••• H•••••••• I••• H••• T••• I••••••••• | revolver first lien | Not disclosed | -$5,000 100c | S+500 bp | May 6, 2028 |
| A•••••• H•••••••• I••• H••• T••• I••••••••• | revolver first lien | Not disclosed | -$5,000 100c | S+500 bp | May 6, 2028 |
| S••••••• W•••••••• | delayed draw term loan first lien | Not disclosed | -$5,000 83c | S+525 bp | Dec 28, 2029 |
| S••••••• W•••••••• | revolver first lien | Not disclosed | -$6,000 46c | S+525 bp | Dec 28, 2028 |
| N•• M••••• G•••• L•• C••••••• G••••: D•••••• | revolver first lien | Not disclosed | -$6,000 50c | S+475 bp | Jun 26, 2031 |
| Z••• F••• • S••••••• C••••••••• & B••••••• | revolver first lien | Not disclosed | -$7,000 44c | S+500 bp | Dec 11, 2030 |
| W••• C••••••••• B••••• L•• H••••••••• & P••••••••• | delayed draw term loan first lien | Not disclosed | -$7,000 100c | S+500 bp | Dec 18, 2032 |
| F•••• I•••••••• M••••••• A••••••••• I••• | revolver first lien | Not disclosed | -$7,000 100c | Dec 19, 2027 | |
| B•••••• A•••••••• G•••• H•••••••• I••• A•••••••• & D•••••• | revolver first lien | Not disclosed | -$8,000 100c | S+600 bp | Oct 28, 2030 |
| H•••• U• T••••••••• I•• A•••••••• & D•••••• | revolver first lien | Not disclosed | -$9,000 113c | Jul 23, 2030 | |
| H•••• U• T••••••••• I••• A•••••••• & D•••••• | revolver first lien | Not disclosed | -$9,000 113c | Jul 23, 2030 | |
| H•••• A••••••••• H•••••••• L•• E••••••••• I••••••••• | delayed draw term loan first lien | Not disclosed | -$9,000 113c | S+575 bp | Oct 21, 2031 |
| V••••• H•••••• I••• H••••••••• & P••••••••• | revolver first lien | Not disclosed | -$9,000 100c | S+475 bp | Oct 31, 2032 |
| H•••• A••••••••• H•••••••• L•• E••••••••• I••••••••• | delayed draw term loan first lien | Not disclosed | -$9,000 113c | S+575 bp | Oct 21, 2031 |
| C•• H••••••••• P••••••••• I••• H••••••••• & P••••••••• | delayed draw term loan first lien | Not disclosed | -$10,000 200c | S+525 bp | Sep 17, 2031 |
| B•• B••••• I•• S••••••s: B••••••• | revolver first lien | Not disclosed | -$11,000 110c | S+500 bp | Oct 31, 2031 |
| W••••••••• A•••••••• & D•••••• | revolver first lien | Not disclosed | -$11,000 100c | Feb 28, 2029 | |
| B•• B••••• I••• S••••••s: B••••••• | revolver first lien | Not disclosed | -$11,000 110c | S+500 bp | Oct 31, 2031 |
| G••• B••••• I••• C••••••••• & B••••••• | revolver first lien | Not disclosed | -$12,000 109c | S+475 bp | Jul 2, 2031 |
| A••••••• C••• A••••••• H••••• L•• H••••••••• & P••••••••• | delayed draw term loan first lien | Not disclosed | -$13,000 433c | S+500 bp | Aug 20, 2030 |
| N•••••• H••• T••• I••••••••• | revolver first lien | Not disclosed | -$13,000 100c | S+475 bp | Dec 9, 2028 |
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