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.
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BDC portfolio
B••••••••• S•••••• L•••••• F•••
Fair value
$14B
as of Jun 30, 2026
Principal held
$14B
debt pieces, the filer's figure
Cost
$14B
97c on cost
Unfunded
$1.4B
commitments not yet drawn
Positions
1,050
362 borrowers
First lien
n/a
97% debt by fair value
Quarters on the tape
17
since Dec 31, 2021
Facilities held
576
46 sponsors financed
Portfolio through time
Fair value by quarter end$14B as of Jun 30, 2026
Dec 31, 2021$10B then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $14B | 362 | 96c | 91 | 528 bp |
| Mar 31, 2026 | $14B | 364 | 97c | 84 | 527 bp |
| Dec 31, 2025 | $15B | 366 | 99c | 90 | 533 bp |
| Sep 30, 2025 | $14B | 362 | 99c | 82 | 533 bp |
| Jun 30, 2025 | $13B | 346 | 99c | 65 | 535 bp |
| Mar 31, 2025 | $14B | 331 | 99c | 67 | 543 bp |
| Dec 31, 2024 | $26B | 326 | 99c | 120 | 552 bp |
| Sep 30, 2024 | $12B | 294 | 99c | 37 | 565 bp |
| Jun 30, 2024 | $12B | 270 | 99c | 33 | 578 bp |
| Mar 31, 2024 | $11B | 247 | 99c | 29 | 594 bp |
| Dec 31, 2023 | $10B | 233 | 99c | 22 | 598 bp |
| Sep 30, 2023 | $9.6B | 218 | 99c | 25 | 593 bp |
| Jun 30, 2023 | $9.4B | 204 | 99c | 13 | 593 bp |
| Mar 31, 2023 | $9.7B | 206 | 99c | 15 | 589 bp |
| Dec 31, 2022 | $9.7B | 202 | 99c | 11 | 593 bp |
| Sep 30, 2022 | $9.6B | 187 | 99c | 4 | 587 bp |
| Dec 31, 2021 | $10B | 164 | 101c | 2 | 591 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
No borrower on this schedule has a sponsor attribution yet.
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
- New borrower on a BDC scheduleJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest increasedJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
Largest facilities held, with co-lenders
- M•••••••• I•• other4 BDCs hold it · matures Oct 29, 2028$395M 51c
- S••••• B••••• I•• delayed draw term loan2 BDCs hold it · matures Jun 1, 2028$365M 94c
- J•• H•••••••• I•• delayed draw term loan2 BDCs hold it · matures Nov 8, 2031$332M 101c
- G••••••••• I•• other3 BDCs hold it · matures Dec 16, 2030$313M 97c
- C•••••• L••••••• G••••• I•• revolver2 BDCs hold it · matures Jul 20, 2028 · V•••••• C•••••• F••• M••••••••• L•••••$282M 93c
- A•••••• I•• other3 BDCs hold it · matures Jun 1, 2033$282M 101c
- N•••••••• A•••••••• I•• delayed draw term loan2 BDCs hold it · matures Jul 16, 2030$270M 76c
- C••••• H•••••••• I•• term loan2 BDCs hold it · matures Dec 27, 2027$262M 100c
- B••••••••• I•• revolver2 BDCs hold it · matures May 7, 2029 · L••• E••• C•••••• M••••••••• L••$238M 99c
- I••••••• H•••••••• I•• delayed draw term loan2 BDCs hold it · matures Nov 24, 2033$205M 94c
- I•• G•••• H•••••••• I•• revolver2 BDCs hold it · matures Dec 3, 2029$197M 101c
- R•••••• S••••••• G••••• L•• delayed draw term loan10 BDCs hold it · matures Jun 15, 2029$183M 101c
Schedule of investments at Jun 30, 2026
1,050 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| C••• R•••• • I••••• C••••••• L•• | unstated lien unstated | $7.4M | $7.3M 100c | S+450 bp | Nov 18, 2031 |
| G••••••, Inc. | revolver lien unstated | $7.4M | $7.2M 98c | S+575 bp | Mar 9, 2029 |
| G•• M••••• L•• | unstated lien unstated | $7.2M | $7.2M 100c | S+475 bp | Apr 1, 2033 |
| C••••••• H••••••• S•••••••••, Ltd. | revolver lien unstated | $10.5M | $7.1M 85c | S+875 bp | Apr 15, 2029 |
| P•••••• P•••••••• L•• | revolver lien unstated | $7.1M | $7.1M 100c | S+550 bp | Nov 12, 2027 |
| M••••••• T••••••••• I••••••••• H•••••••• I••. | revolver lien unstated | $8.3M | $7.0M 85c | S+375 bp | Jul 31, 2028 |
| T••••• H•••••• I••. | delayed draw term loan lien unstated | $9.2M | $6.9M 77c | S+600 bp PIK 2.50% | Oct 14, 2028 |
| A••••• T••••••••• I••. | delayed draw term loan lien unstated | $6.8M | $6.8M 101c | S+400 bp | May 8, 2030 |
| H••••••• S••••••• S••••••••, LLC | unstated lien unstated | $7.0M | $6.8M 99c | S+525 bp | Jun 16, 2031 |
| F••••••••• R••• P••••••• C•••. | unstated lien unstated | $6.8M | $6.8M 101c | S+475 bp | Oct 29, 2030 |
| S••••••• S••••• S•••••••• P••••••••• L•• | equity equity | n/a | $6.8M 128c | ||
| N•••••• H•••••••• I••. | revolver lien unstated | $6.8M | $6.7M 100c | S+450 bp | Aug 31, 2030 |
| C••••••••• L•• | preferred equity equity | n/a | $6.7M 129c | ||
| B••••• S••••••• H•••••••• L•• | unstated lien unstated | $6.7M | $6.6M 100c | S+550 bp | Jan 2, 2031 |
| T•••••••• B••••, L•••••• | delayed draw term loan lien unstated | $6.7M | $6.6M 99c | S+550 bp PIK 2.00% | Jul 1, 2031 |
| State S••••• Institutional U.S. Government Money Market Fund | unstated lien unstated | n/a | $6.6M 100c | 3.58% | |
| MRI S•••••••, LLC | unstated lien unstated | $6.6M | $6.5M 98c | S+475 bp | Feb 10, 2028 |
| C••••• I••••••••• I•• L•• | unstated lien unstated | $6.4M | $6.4M 101c | S+450 bp | May 12, 2031 |
| M•••••• B••••• L••. | delayed draw term loan lien unstated | $4.8M | $6.3M 99c | S+425 bp | Nov 7, 2030 |
| E••••••• F••••, Ltd. | delayed draw term loan lien unstated | $6.3M | $6.2M 100c | S+525 bp PIK 2.25% | Apr 29, 2031 |
| S••••• B••••, LLC | unstated lien unstated | $6.5M | $6.2M 96c | S+500 bp | May 31, 2031 |
| M••••••• T••••••••• I••••••••• H•••••••• I••. | revolver lien unstated | $6.8M | $6.1M 91c | S+625 bp | Jul 31, 2028 |
| F••••••••• R••• P••••••• C•••. | unstated lien unstated | $5.9M | $5.9M 101c | S+475 bp | Oct 29, 2030 |
| B• P••••••••• L•• | unstated lien unstated | $7.5M | $5.9M 80c | S+750 bp PIK 1.00% | Dec 11, 2028 |
| T•• I••••••••• L•• | unstated lien unstated | $5.9M | $5.9M 101c | S+475 bp | Dec 15, 2031 |
| C••• H•••••••• L•• | revolver lien unstated | $5.8M | $5.8M 101c | S+425 bp | Nov 2, 2029 |
| A••• C•••••• I••••••••• H•••••••• L•• | revolver lien unstated | $6.7M | $5.7M 85c | S+650 bp | May 7, 2027 |
| G•••••• P••••• B•••• S•••• | delayed draw term loan lien unstated | $5.0M | $5.7M 99c | S+500 bp | Oct 7, 2032 |
| S•••••••• B••••••• H•••••• L•• | unstated lien unstated | $5.6M | $5.6M 100c | S+500 bp | May 12, 2033 |
| R•• P•••••• B••••• A• | delayed draw term loan lien unstated | $55.1M | $5.6M 97c | S+450 bp | Oct 30, 2032 |
| H••••••• S••••••• S••••••••, LLC | unstated lien unstated | $5.7M | $5.6M 99c | S+525 bp | Jun 16, 2031 |
| A•••••••• H•••••••• L•• | unstated lien unstated | $5.6M | $5.6M 100c | S+500 bp | Aug 31, 2029 |
| M•••••••• B••••••••• I••. | delayed draw term loan lien unstated | $5.5M | $5.5M 101c | S+450 bp | May 18, 2029 |
| A•••• B•••• Investment, Ltd. | unstated lien unstated | $7.8M | $5.5M 98c | S+500 bp | Jan 14, 2033 |
| C•••••••• M••••••••• H••••••• M•••• 2• L•• | unstated lien unstated | $5.5M | $5.4M 100c | S+500 bp | Nov 3, 2031 |
| S•• H•••••• C•• I••. | unstated lien unstated | $5.5M | $5.4M 100c | S+500 bp | Jun 30, 2033 |
| C•••••••• B••••• I••. | revolver lien unstated | $5.4M | $5.4M 100c | S+460 bp | Aug 31, 2029 |
| C••••••• A••••••••• H•••••••• I••. | unstated lien unstated | $5.4M | $5.4M 100c | S+450 bp | Nov 13, 2029 |
| E••• A••••••••• L••. | delayed draw term loan lien unstated | $4.7M | $5.4M 106c | S+500 bp | Nov 18, 2030 |
| G••••••• B••••, Inc. | delayed draw term loan lien unstated | $5.3M | $5.3M 101c | S+550 bp | Aug 30, 2032 |
| F•••••••• R••• S•••••, LLC | unstated lien unstated | $5.4M | $5.3M 99c | S+475 bp PIK 2.00% | Mar 4, 2032 |
| G•• C••••••••• B••••• L•• | delayed draw term loan lien unstated | $5.3M | $5.2M 98c | S+550 bp | Sep 13, 2027 |
| G•••••••• I••. | unstated lien unstated | $5.2M | $5.2M 100c | S+525 bp PIK 2.25% | Jan 17, 2031 |
| V••••••• P••••• Holdings Corp. | unstated lien unstated | $5.2M | $5.1M 99c | S+600 bp | Aug 23, 2031 |
| C• T••••••••• I••••••••• H•••••••• I••. | unstated lien unstated | $5.2M | $5.1M 100c | S+475 bp | Sep 2, 2031 |
| J•• H•••••••• I••. | delayed draw term loan lien unstated | $5.1M | $5.1M 101c | S+500 bp | Nov 8, 2031 |
| B••••••••• I••. | unstated lien unstated | $5.1M | $5.1M 100c | S+450 bp | Dec 3, 2032 |
| M•• D••••• S••••••••• L•• | revolver lien unstated | $5.0M | $5.0M 100c | S+550 bp | Feb 13, 2031 |
| S•••••••• P••••••••• I••. | unstated lien unstated | $5.2M | $5.0M 99c | S+467 bp | Oct 17, 2031 |
| T•••••• P••••••• H•••••••• L•• | delayed draw term loan lien unstated | $5.1M | $5.0M 98c | S+524 bp | Dec 31, 2030 |
| E••••••• F••••, Ltd. | delayed draw term loan lien unstated | $5.0M | $5.0M 99c | S+500 bp | Apr 29, 2031 |
| F••••••••• R••• P••••••• C•••. | unstated lien unstated | $5.0M | $5.0M 100c | S+475 bp | Oct 29, 2030 |
| O••••• A• | delayed draw term loan lien unstated | $3.7M | $4.9M 109c | S+525 bp | Dec 31, 2030 |
| O••••• A• | delayed draw term loan lien unstated | $3.8M | $4.9M 98c | S+475 bp | Dec 31, 2030 |
| T••••••• U•• L•• | unstated lien unstated | $4.9M | $4.9M 102c | S+500 bp | Jun 17, 2032 |
| J•••••• B••••• L•• | delayed draw term loan lien unstated | $5.2M | $4.9M 95c | S+900 bp | Jul 16, 2028 |
| H••••••••• I•••••••• A•••••• I••. | unstated lien unstated | $4.9M | $4.9M 100c | S+450 bp | Jun 11, 2031 |
| I•• H•••••• C•••. | revolver lien unstated | $5.0M | $4.9M 98c | S+525 bp | May 2, 2029 |
| E••••••• F••••, Ltd. | delayed draw term loan lien unstated | $3.7M | $4.8M 105c | S+525 bp PIK 2.25% | Apr 29, 2031 |
| A••••••• P••••••• M••••••••• I••. | revolver lien unstated | $5.3M | $4.8M 91c | S+550 bp | Feb 25, 2028 |
| T•••• B••••, SAS | delayed draw term loan lien unstated | $4.2M | $4.7M 106c | S+525 bp | Oct 15, 2031 |
| F••••••••• R••• P••••••• C•••. | unstated lien unstated | $4.7M | $4.7M 101c | S+475 bp | Oct 29, 2030 |
| F•••••••• R••• S•••••, LLC | unstated lien unstated | $4.8M | $4.7M 99c | S+475 bp PIK 2.00% | Mar 4, 2032 |
| G&A Partners Holding Company II, LLC | revolver lien unstated | $4.7M | $4.7M 100c | S+500 bp | Mar 3, 2031 |
| T•• F•••••••• P•••••••• I••. | revolver lien unstated | $4.8M | $4.7M 98c | S+575 bp | Mar 16, 2028 |
| G• A••••••••• I••. | unstated lien unstated | $5.2M | $4.7M 89c | S+525 bp | May 25, 2028 |
| B••••• H•• L••. | equity equity | n/a | $4.6M 113c | ||
| T•••••••• B••••, L•••••• | delayed draw term loan lien unstated | $3.5M | $4.6M 104c | S+550 bp PIK 2.00% | Jul 1, 2031 |
| M•••••• B•••• G••••, L•••••• | delayed draw term loan lien unstated | $4.5M | $4.5M 106c | S+625 bp | Jan 31, 2031 |
| A• T•••• P•••••• I••. | unstated lien unstated | $4.5M | $4.5M 100c | S+450 bp | Aug 29, 2031 |
| F••••••• D••••••••• H•••••••• L•• | delayed draw term loan lien unstated | $4.4M | $4.4M 101c | S+475 bp | Nov 4, 2031 |
| Z•••• B••••• L••. | delayed draw term loan lien unstated | $43.4M | $4.4M 112c | S+465 bp | Aug 13, 2031 |
| M•••••••• B••••••••• I••. | delayed draw term loan lien unstated | $3.3M | $4.4M 107c | S+450 bp | May 18, 2029 |
| F•••••••• R••• S•••••, LLC | unstated lien unstated | $4.5M | $4.4M 98c | S+475 bp PIK 2.00% | Mar 4, 2032 |
| DTA, LP | equity equity | n/a | $4.4M 160c | ||
| M•••••• Y••••••••• B••••• I••. | delayed draw term loan lien unstated | $5.1M | $4.3M 86c | S+700 bp PIK 3.25% | Jun 23, 2028 |
| P•••••• G••••• I•••••••• S•••••••• L•• | revolver lien unstated | $4.5M | $4.3M 97c | S+500 bp | Oct 16, 2028 |
| B••••••• I••••••••• #2, LP | revolver lien unstated | $4.5M | $4.3M 95c | S+500 bp | Oct 1, 2027 |
| H••• S••••• B••••• I••. | unstated lien unstated | $4.3M | $4.3M 102c | S+425 bp | Apr 14, 2028 |
| T•••• Holdings, LLC | unstated lien unstated | $4.3M | $4.3M 104c | S+475 bp | Jul 29, 2032 |
| I••••••••• C••••••••• | unstated lien unstated | $4.8M | $4.2M 89c | S+575 bp | Apr 1, 2028 |
| P•••••• G••••• I•••••••• S•••••••• L•• | revolver lien unstated | $4.3M | $4.2M 99c | S+500 bp | Oct 16, 2028 |
| B•••• T•••• A••••••• G••••• L• | unstated lien unstated | $4.2M | $4.2M 103c | S+425 bp | Jun 3, 2031 |
| Z•••• B••••• L••. | delayed draw term loan lien unstated | $3.2M | $4.2M 106c | S+465 bp | Aug 13, 2031 |
| R•• P•••••• B••••• A• | delayed draw term loan lien unstated | $3.7M | $4.1M 99c | S+450 bp | Oct 30, 2032 |
| S• A•• I•••••• L•• | unstated lien unstated | $4.1M | $4.1M 100c | S+780 bp | Oct 20, 2039 |
| T•••••••• B••••, L•••••• | delayed draw term loan lien unstated | $3.6M | $4.1M 96c | S+550 bp PIK 2.00% | Jul 1, 2031 |
| A••••••• R••••••••• H•••••••• L•• | delayed draw term loan lien unstated | $4.6M | $4.1M 90c | S+500 bp | Jul 24, 2030 |
| M••• A••• H•••••••• L•• | unstated lien unstated | $4.1M | $4.0M 100c | S+450 bp | Jul 21, 2032 |
| A•••••••• H•••••••• L•• | unstated lien unstated | $4.0M | $4.0M 100c | S+500 bp | Aug 31, 2029 |
| R•••••• S••••••• G••••• L•• | delayed draw term loan lien unstated | $4.1M | $3.9M 97c | S+475 bp | Jun 15, 2029 |
| E•••••••• I••. | unstated lien unstated | $4.0M | $3.9M 99c | S+500 bp PIK 2.25% | Feb 22, 2030 |
| T••••• H•••••• I••. | delayed draw term loan lien unstated | $4.5M | $3.9M 76c | S+600 bp PIK 2.50% | Oct 14, 2028 |
| S•••• B••••, SASU | delayed draw term loan lien unstated | $3.4M | $3.9M 97c | S+440 bp | Aug 27, 2032 |
| B••••• S••••••• H•••••••• L•• | unstated lien unstated | $4.1M | $3.8M 94c | S+525 bp | Jan 2, 2031 |
| G•• I••••••••• I••. | revolver lien unstated | $3.7M | $3.7M 101c | S+450 bp | Aug 5, 2030 |
| H•••• T•• L•• | delayed draw term loan lien unstated | $3.7M | $3.7M 100c | S+500 bp | Aug 5, 2030 |
| I••• B••••• L•• | unstated lien unstated | $3.6M | $3.6M 103c | S+500 bp | Oct 2, 2030 |
| M•• P••••• H•••••••• L•• | unstated lien unstated | $3.6M | $3.6M 102c | S+500 bp | Jan 8, 2030 |
| N•••• H•••• U••• A••••••••• I••. | unstated lien unstated | $3.9M | $3.6M 94c | S+525 bp | Oct 29, 2027 |
Registration
- Fiscal year end
- 1231reported
- Incorporated
- DEreported
- On the SEC BDC report
- 2019 to 2026reported
- Filings listed
- 19reported10-Q and 10-K since 2022
- Former names
- Blackstone / GSO Secured Lending Fundreported
- Latest schedule
- 0001736035-26-000016reported