DFX Intelligence

Private Credit Intelligence

The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.

BDC portfolio

Bain Capital Specialty Finance, Inc.

BDCBCSFCIK 1655050file 814-01175BOSTON, MAmanaged by BCSF ADVISORS, LP

Fair value

$2.4B

as of Jun 30, 2026

Principal held

$2.2B

debt pieces, the filer's figure

Cost

$2.4B

100c on cost

Unfunded

n/a

commitments not yet drawn

Positions

677

244 borrowers

First lien

63%

85% debt by fair value

Quarters on the tape

since Dec 31, 2021

Facilities held

554

32 sponsors financed

Portfolio through time

Fair value by quarter end$2.4B as of Jun 30, 2026

Dec 31, 2021$2.8B then

Quarter	Fair value	Borrowers	On cost	PIK pos.	Avg spread
Jun 30, 2026	$2.4B	244	95c	78	536 bp
Mar 31, 2026	$2.5B	244	96c	85	534 bp
Dec 31, 2025	$2.7B	234	98c	103	557 bp
Sep 30, 2025	$2.5B	222	98c	72	556 bp
Jun 30, 2025	$2.5B	208	98c	74	554 bp
Mar 31, 2025	$2.3B	197	98c	67	562 bp
Dec 31, 2024	$3.0B	207	97c	85	584 bp
Sep 30, 2024	$2.4B	186	98c	50	604 bp
Jun 30, 2024	$2.6B	175	99c	44	606 bp
Mar 31, 2024	$2.8B	175	99c	44	611 bp
Dec 31, 2023	$2.8B	163	98c	63	609 bp
Sep 30, 2023	$2.5B	170	98c	36	629 bp
Jun 30, 2023	$2.5B	171	96c	31	618 bp
Mar 31, 2023	$2.5B	167	98c	28	619 bp
Dec 31, 2022	$5.0B	187	96c	56	617 bp
Sep 30, 2022	$2.3B	157	96c	6	618 bp
Dec 31, 2021	$2.8B	141	99c	17	577 bp

Each quarter end is the schedule as filed for that instant; a restated year end is taken from the latest filing that carries it.

Sponsors financed

Freeman Spogli & Co. carried
4 borrowers $50.6M
The Sterling Group, L.P. carried
3 borrowers $31.3M
Greenbriar Equity Group carried
2 borrowers $107M
Silver Oak Services Partners,llc carried
2 borrowers $84.3M
Wcas Management Corporation carried
2 borrowers $44.3M
Court Square Capital carried
2 borrowers $37.1M
Marlin Equity Partners carried
2 borrowers $11.3M
ZMC Advisors, L.P. carried
2 borrowers $8.7M
Quad-C Management, Inc. carried
2 borrowers $761,000
Riata Capital Group, LLC carried
1 borrower $60.3M
Windjammer Capital Investors carried
1 borrower $21.2M
Activant Capital Group LLC carried
1 borrower $20.0M
Platinum Equity Advisors, LLC carried
1 borrower $17.8M
WP Global Partners LLC carried
1 borrower $13.9M
Vista Equity Partners Management, LLC inferred
1 borrower $13.3M

Counted at BDC level here; the adviser page counts across every BDC it manages. A sponsor named by Form D signer consensus is an inference.

What changed

Repeat sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances another Silver Oak Services Partners,llc borrower (2 borrowers, 6 facilities held)
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first Riata Capital Group, LLC borrower (1 borrower, 2 facilities held)
Repeat sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances another Freeman Spogli & Co. borrower (4 borrowers, 9 facilities held)
Repeat sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances another Wcas Management Corporation borrower (2 borrowers, 5 facilities held)
New borrower on a BDC scheduleJun 30, 2026
Goldman Sachs Financial Square Government Fund Institutional Share Class [Member] first appears in a BDC schedule (1 lender)
Repeat sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances another The Sterling Group, L.P. borrower (3 borrowers, 6 facilities held)
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first Windjammer Capital Investors borrower (1 borrower, 3 facilities held)
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first Activant Capital Group LLC borrower (1 borrower, 2 facilities held)
New lender joined a facilityJun 30, 2026
Bain Capital Specialty Finance, Inc. joins Accelevation LLC term loan (first lien) held by 9 other BDCs
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first Platinum Equity Advisors, LLC borrower (1 borrower, 2 facilities held)
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first WP Global Partners LLC borrower (1 borrower, 3 facilities held)
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first Vista Equity Partners Management, LLC borrower (1 borrower, 2 facilities held)
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first Upper90 borrower (1 borrower, 3 facilities held)
New borrower on a BDC scheduleJun 30, 2026
Goldman Sachs US Treasury Liquid Reserves Fund [Member] first appears in a BDC schedule (1 lender)
Repeat sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances another Marlin Equity Partners borrower (2 borrowers, 4 facilities held)
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first Access Holdings Management Company LLC borrower (1 borrower, 1 facility held)
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first JLL Partners LLC borrower (1 borrower, 3 facilities held)
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first Excellere Partners borrower (1 borrower, 2 facilities held)
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first Frazier Healthcare Partners borrower (1 borrower, 2 facilities held)
New sponsor and lender pairJun 30, 2026
Bain Capital Specialty Finance, Inc. finances a first Lightspeed Faction borrower (1 borrower, 3 facilities held)

Every position change, including routine ones

Largest facilities held, with co-lenders

Vehicles International unsecured or subordinated term loan
1 BDC hold it · matures Feb 22, 2028
$254M 88c
Vehicles Bain Capital unsecured or subordinated term loan
2 BDCs hold it · matures Dec 24, 2036
$179M 90c
SauceCo HoldCo, LLC first lien term loan
2 BDCs hold it · matures May 13, 2030
$71.0M 103c
AEG Vision first lien delayed draw term loan
2 BDCs hold it · matures Mar 27, 2027 · Riata Capital Group, LLC
$59.9M 100c
American Trailer Rental Group, LLC unsecured or subordinated subordinated debt
1 BDC hold it · matures Dec 1, 2028
$49.9M 89c
Goldman Sachs Financial Square Government Fund Institutional Share Class [Member] other
1 BDC hold it
$39.5M n/a
DTIQ first lien term loan
2 BDCs hold it · matures Sep 30, 2029
$33.2M 99c
Applitools, Inc first lien term loan
4 BDCs hold it · matures May 25, 2029
$31.9M 84c
Efficient Collaborative Retail Marketing Company, LLC first lien term loan
2 BDCs hold it · matures Sep 30, 2026
$30.2M 102c
Taoglas first lien term loan
2 BDCs hold it · matures Feb 28, 2029
$29.3M 101c
Solaray, LLC first lien term loan
2 BDCs hold it · matures Mar 27, 2029
$29.3M 91c
Titan Cloud Software, Inc first lien term loan
2 BDCs hold it · matures Sep 7, 2029
$27.6M 100c

Schedule of investments at Jun 30, 2026

677 positions

Borrower	Instrument	Principal	Fair value	Rate	Maturity
AgroFresh Solutions Beverage, Food & Tobacco	term loan first lien	$6.8M	$6.7M 100c	SOFR+560 bp	Apr 1, 2030
Cloud Technology Solutions (CTS) High Tech Industries	preferred equity equity	$4.8M	$6.6M 111c
Eagle Rock Capital Corporation High Tech Industries	preferred equity equity	$2.4M	$6.5M 268c
Meteor UK Bidco Limited Environmental Industries	delayed draw term loan first lien	$4.9M	$6.4M 100c	//www.baincapital.com/20260630#Sterling Overnight Index Average+500 bp	May 14, 2032
Premier Imaging, LLC Healthcare & Pharmaceuticals	term loan first lien	$7.8M	$6.4M 82c	SOFR+450 bp PIK 1.76%	Oct 31, 2027
Chartbeat High Tech Industries	subordinated debt unsecured or subordinated	$6.6M	$6.4M 98c	16.00% PIK 16.00%	Oct 4, 2030
Chilton Automotive	term loan first lien	$6.4M	$6.3M 99c	SOFR+550 bp	Feb 5, 2031
PayRang High Tech Industries	equity equity	$4.5M	$6.1M 134c
Forward Slope Aerospace & Defense	term loan first lien	$6.0M	$6.0M 102c	SOFR+560 bp	Aug 22, 2029
AgroFresh Solutions Beverage, Food & Tobacco	term loan first lien	$6.1M	$6.0M 101c	SOFR+560 bp	Apr 1, 2030
Service Master Construction & Building	term loan first lien	$7.8M	$6.0M 79c	10.48% PIK 6.86%	Aug 16, 2027
Abracon Borrower, LLC. Wholesale	term loan first lien	$5.9M	$5.9M 100c	SOFR+565 bp	Jun 10, 2030
BTX Precision Aerospace & Defense	delayed draw term loan first lien	$5.9M	$5.9M 101c	SOFR+500 bp	Jul 25, 2030
USME Holdco LLC Healthcare & Pharmaceuticals	subordinated debt unsecured or subordinated	$5.9M	$5.8M 99c	17.00% PIK 17.00%	May 26, 2031
WSHP Cottonwood Buyer, LLC Healthcare & Pharmaceuticals	term loan first lien	$5.8M	$5.8M 100c	SOFR+500 bp	Dec 20, 2032
Rydoo Services: Business	term loan first lien	$5.1M	$5.8M 100c	//www.baincapital.com/20260630#Euro Interbank Offered Rate+675 bp	Sep 26, 2031
Non-controlled/Non-Affiliated Investments Transportation: Co Transportation: Consumer	term loan first lien	$5.8M	$5.8M 101c	SOFR+475 bp	May 1, 2029
FIRE: Finance Choreo	delayed draw term loan first lien	$5.8M	$5.8M 100c	SOFR+525 bp	Feb 18, 2028
Evriholder Consumer Goods: Non-Durable	term loan first lien	$5.7M	$5.6M 100c	SOFR+700 bp	Jan 24, 2028
Discovery Senior Living Services: Business	delayed draw term loan first lien	$5.6M	$5.6M 100c	SOFR+500 bp	Mar 18, 2030
American Trailer Rental Group Automotive	subordinated debt unsecured or subordinated	$6.3M	$5.6M 89c	14.25% PIK 14.25%	Dec 1, 2028
Chex Finer Foods, LLC Wholesale	delayed draw term loan first lien	$5.6M	$5.6M 100c	SOFR+575 bp	Jun 6, 2031
Forward Slope Aerospace & Defense	term loan first lien	$5.5M	$5.5M 101c	SOFR+560 bp	Aug 22, 2029
Appriss Holdings, Inc. High Tech Industries	term loan first lien	$5.5M	$5.5M 100c	SOFR+485 bp	May 6, 2027
Easy Ice Services: Business	delayed draw term loan first lien	$5.5M	$5.5M 101c	SOFR+540 bp	Oct 30, 2030
Brook Bidco Services: Business	preferred equity equity	$11.7M	$5.4M 54c
FIRE: Finance Avalon Bidco Limited	delayed draw term loan first lien	$4.1M	$5.4M 100c	//www.baincapital.com/20260630#Sterling Overnight Index Average+625 bp	Apr 16, 2032
iBanFirst Services: Business	term loan first lien	$4.6M	$5.3M 109c	11.83% PIK 9.75%	Jul 13, 2028
ACAMS Services: Business	term loan first lien	$5.2M	$5.2M 100c	SOFR+500 bp	Dec 30, 2031
Datix Bidco Limited Services: Business	term loan first lien	$5.1M	$5.1M 101c	SOFR+500 bp	Apr 30, 2031
iBanFirst Services: Business	term loan first lien	$4.4M	$5.0M 108c	11.83% PIK 9.75%	Jul 13, 2028
SauceCo HoldCo, LLC Beverage, Food & Tobacco	revolver first lien	$5.0M	$5.0M 101c	SOFR+575 bp	May 13, 2030
Bridger Aerospace Group Holdings, Inc. Aerospace & Defense	term loan first lien	$5.1M	$5.0M 100c	SOFR+600 bp	Oct 28, 2030
Advanced Aircrew Services: Business	term loan first lien	$5.0M	$5.0M 101c	SOFR+650 bp	Jul 26, 2030
TL Sapphire Parent, Inc. Construction & Building	term loan first lien	$5.0M	$4.9M 99c	SOFR+500 bp	Jan 24, 2033
Monarch Collective Holdings, LLC Services: Business	term loan first lien	$5.0M	$4.9M 99c	SOFR+500 bp	Mar 17, 2032
BCC Jetstream Holdings Aviation (On II), LLC Aerospace & Defense	term loan first lien	$8.0M	$4.9M 62c
ATS Aerospace & Defense	term loan first lien	$4.9M	$4.9M 101c	SOFR+575 bp	Jul 12, 2029
Revalize, Inc. High Tech Industries	delayed draw term loan first lien	$5.3M	$4.9M 93c	SOFR+475 bp PIK 1.75%	Apr 15, 2027
FIRE: Finance Sikich	preferred equity equity	$49,000	$4.9M 101c
Beacon Specialized Living Healthcare & Pharmaceuticals	term loan first lien	$4.9M	$4.9M 101c	SOFR+550 bp	Mar 27, 2028
iBanFirst Services: Business	delayed draw term loan first lien	$4.2M	$4.8M 109c	12.06% PIK 9.75%	Jul 13, 2028
Zeus Fire & Security Construction & Building	term loan first lien	$4.8M	$4.8M 101c	SOFR+500 bp	Dec 11, 2030
Beacon Specialized Living Healthcare & Pharmaceuticals	delayed draw term loan first lien	$4.8M	$4.8M 102c	SOFR+550 bp	Mar 25, 2028
Gills Point S Automotive	revolver first lien	$4.8M	$4.7M 98c	SOFR+550 bp	May 17, 2029
Titan Cloud Software, Inc Environmental Industries	equity equity	$3.5M	$4.7M 133c
ASP-r-pac Acquisition Co LLC Containers, Packaging & Glass	term loan first lien	$4.7M	$4.7M 101c	SOFR+525 bp	Dec 31, 2030
GSP Holdings, LLC Aerospace & Defense	revolver first lien	$4.9M	$4.6M 95c	SOFR+228 bp PIK 3.62%	Nov 5, 2027
MZR Buyer, LLC Services: Consumer	revolver first lien	$5.2M	$4.5M 87c	SOFR+690 bp PIK 0.50%	Dec 22, 2028
Gulf Winds International Transportation: Cargo	revolver first lien	$4.8M	$4.4M 93c	SOFR+700 bp	Dec 16, 2028
FIRE: Finance Endurance Holdco Limited	preferred equity equity	$3.2M	$4.2M 100c
FIRE: Finance Legacy Corporate Lending HoldCo, LLC	equity equity	$1,000	$4.1M
Electronic Merchant Systems Services: Business	term loan first lien	$4.1M	$4.1M 101c	SOFR+450 bp	Aug 1, 2030
V Global Holdings LLC Chemicals, Plastics & Rubber	revolver first lien	$4.6M	$4.0M 87c	SOFR+585 bp	Jan 2, 2029
Non-controlled/Non-Affiliated Investments Transportation: Co Transportation: Consumer	term loan first lien	$4.0M	$4.0M 101c	SOFR+525 bp	May 1, 2029
DTIQ Services: Business	revolver first lien	$4.0M	$4.0M 98c	SOFR+750 bp	Sep 30, 2029
Opus2 Services: Business	equity equity	$2.3M	$3.9M 155c
Gills Point S Automotive	term loan first lien	$4.0M	$3.9M 98c	SOFR+400 bp PIK 1.50%	May 17, 2029
RoadOne Transportation: Cargo	revolver first lien	$3.9M	$3.9M 100c	SOFR+675 bp	Dec 29, 2028
A&R Logistics, Inc. Transportation: Cargo	term loan first lien	$6.1M	$3.9M 65c	SOFR+265 bp PIK 4.25%	Feb 3, 2028
Superna Inc. High Tech Industries	equity equity	$1.5M	$3.9M 264c
BCC Trillium Foods Investments 1, LLC Beverage, Food & Tobacco	equity equity	$3,000	$3.9M 152c
ACAMS Services: Business	equity equity	$3.3M	$3.7M 110c
LogRhythm, Inc. High Tech Industries	term loan first lien	$4.0M	$3.6M 93c	SOFR+750 bp	Jul 2, 2029
City BBQ Hotel, Gaming & Leisure	delayed draw term loan first lien	$3.8M	$3.6M 97c	SOFR+535 bp	Sep 4, 2030
A&R Logistics, Inc. Transportation: Cargo	revolver first lien	$5.9M	$3.6M 62c	SOFR+250 bp PIK 4.25%	Feb 3, 2028
Gills Point S Automotive	term loan first lien	$3.7M	$3.6M 98c	SOFR+400 bp PIK 1.50%	May 17, 2029
FIRE: Finance Insigneo Financial Group LLC	equity equity	$534,000	$3.5M 663c
New Gen Holding High Tech Industries	term loan first lien	$3.1M	$3.5M 101c	//www.baincapital.com/20260630#Euro Interbank Offered Rate+300 bp PIK 4.25%	May 28, 2031
Elevator Holdco Inc. Services: Business	equity equity	$2,000	$3.3M 134c
AXH Air Coolers Capital Equipment	term loan first lien	$3.3M	$3.3M 101c	SOFR+550 bp	Oct 31, 2029
Non-controlled/Non-Affiliated Investments Services: Business Services: Business	delayed draw term loan first lien	$2.3M	$3.1M 97c	13.73% PIK 10.00%	May 22, 2032
Service Master Construction & Building	term loan first lien	$4.0M	$3.1M 78c	SOFR+601 bp PIK 1.00%	Dec 31, 2029
AQ Software Corporation High Tech Industries	preferred equity equity	$3,000	$3.0M 86c
Cloud Technology Solutions (CTS) High Tech Industries	delayed draw term loan first lien	$2.2M	$3.0M 103c	//www.baincapital.com/20260630#Sterling Overnight Index Average+268 bp PIK 5.57%	Oct 17, 2031
ICAT Logistics, Inc. Transportation: Cargo	delayed draw term loan first lien	$3.0M	$3.0M 99c	SOFR+625 bp	Mar 1, 2029
RetailNext High Tech Industries	revolver first lien	$2.9M	$2.9M 100c	SOFR+700 bp	Dec 5, 2030
PPX Beverage, Food & Tobacco	preferred equity equity	$33,000	$2.8M 56c
FIRE: Insurance MRHT	delayed draw term loan first lien	$2.6M	$2.8M 95c	//www.baincapital.com/20260630#Euro Interbank Offered Rate+500 bp	May 17, 2032
Meriplex Communications, Ltd. Telecommunications	revolver first lien	$2.8M	$2.8M 99c	SOFR+510 bp	Jul 17, 2028
FC DOLMANS B.V. Environmental Industries	term loan first lien	$2.4M	$2.8M 99c	//www.baincapital.com/20260630#Euro Interbank Offered Rate+525 bp	Mar 4, 2033
Utimaco High Tech Industries	preferred equity equity	$2,000	$2.7M 127c
Utimaco High Tech Industries	equity equity	$2,000	$2.7M 127c
SensorTower, Inc. High Tech Industries	term loan first lien	$2.7M	$2.7M 101c	SOFR+750 bp	Mar 15, 2029
Humic Acquisition Holdings, LLC Environmental Industries	revolver first lien	$2.8M	$2.7M 98c	SOFR+575 bp	Oct 21, 2031
Whitcraft-Paradigm Aerospace & Defense	term loan first lien	$2.6M	$2.6M 101c	SOFR+500 bp	Feb 15, 2029
Apollo Intelligence Healthcare & Pharmaceuticals	equity equity	$34,000	$2.6M 78c
Hollywood LP Services: Business	preferred equity equity	$2.0M	$2.6M 102c
Abracon TopCo, LLC Wholesale	equity equity	$3,000	$2.6M 137c
Varo ESI Buyer, LLC Aerospace & Defense	term loan first lien	$2.6M	$2.6M 100c	SOFR+550 bp	May 10, 2032
Morrow Sodali Services: Business	delayed draw term loan first lien	$2.6M	$2.6M 100c	SOFR+548 bp	Apr 25, 2028
Robinson Helicopter Aerospace & Defense	equity equity	$1.6M	$2.6M 503c
HealthDrive Healthcare & Pharmaceuticals	preferred equity equity	$18,000	$2.5M 140c
ImageTrend Services: Business	term loan first lien	$2.5M	$2.5M 101c	SOFR+500 bp	Jan 31, 2029
Service Master Construction & Building	term loan first lien	$3.3M	$2.5M 78c	10.51% PIK 6.86%	Aug 16, 2027
Fiduciaire Jean-Marc Faber (FJMF) Services: Business	delayed draw term loan first lien	$2.1M	$2.4M 99c	SOFR+550 bp	Apr 5, 2032
OGH Bidco Limited Media: Advertising, Printing & Publishing	delayed draw term loan first lien	$2.2M	$2.4M 90c	//www.baincapital.com/20260630#Sterling Overnight Index Average+625 bp	Jun 29, 2029
Brook Bidco Services: Business	term loan first lien	$2.5M	$2.3M 100c	SOFR+206 bp PIK 6.20%	Jul 7, 2028
A&R Logistics, Inc. Transportation: Cargo	revolver first lien	$2.3M	$2.3M 107c	13.50% PIK 6.75%	Feb 3, 2028
Whitcraft-Paradigm Aerospace & Defense	delayed draw term loan first lien	$2.3M	$2.3M 100c	SOFR+500 bp	Feb 15, 2029

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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