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••••••••• P•••••• C••••• F•••

BDCnon-tradedCIK 1803498file 814-01358NEW YORK, NYmanaged by B••••••••• P•••••• C••••• S••••••••• L••

Fair value

$87B

as of Jun 30, 2026

Principal held

$85B

debt pieces, the filer's figure

Cost

$90B

97c on cost

Unfunded

$20B

commitments not yet drawn

Positions

2,411

964 borrowers

First lien

n/a

92% debt by fair value

Quarters on the tape

since Dec 31, 2021

Facilities held

1,247

101 sponsors financed

Portfolio through time

Fair value by quarter end$87B as of Jun 30, 2026

Dec 31, 2021$36B then

Quarter	Fair value	Borrowers	On cost	PIK pos.	Avg spread
Jun 30, 2026	$87B	964	97c	140	426 bp
Mar 31, 2026	$91B	1,034	98c	124	426 bp
Dec 31, 2025	$94B	1,060	99c	137	432 bp
Sep 30, 2025	$86B	1,014	99c	113	436 bp
Jun 30, 2025	$82B	983	99c	108	446 bp
Mar 31, 2025	$80B	948	99c	100	455 bp
Dec 31, 2024	$151B	921	99c	193	468 bp
Sep 30, 2024	$68B	832	99c	69	480 bp
Jun 30, 2024	$63B	786	99c	50	480 bp
Mar 31, 2024	$61B	714	99c	43	488 bp
Dec 31, 2023	$65B	786	99c	41	478 bp
Sep 30, 2023	$56B	642	99c	35	494 bp
Jun 30, 2023	$55B	627	98c	19	490 bp
Mar 31, 2023	$56B	571	98c	23	490 bp
Dec 31, 2022	$70B	944	98c	21	463 bp
Sep 30, 2022	$50B	606	98c	4	509 bp
Dec 31, 2021	$36B	470	100c	0	501 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
N•• A•• B•••• L•• first appears in a BDC schedule (7 lenders)
New borrower on a BDC scheduleJun 30, 2026
S•••••••• I••••••••• Pty Ltd first appears in a BDC schedule (7 lenders)
New borrower on a BDC scheduleJun 30, 2026
N••••••••• I•• first appears in a BDC schedule (4 lenders)
New lender joined a facilityJun 30, 2026
B••••••••• P•••••• C••••• F••• joins S••••• A••••••••• I•• other (unknown) held by 2 other BDCs
New lender joined a facilityJun 30, 2026
B••••••••• P•••••• C••••• F••• joins D•• I••••••••• H••••••• L•• other (unknown) held by 1 other BDC
New borrower on a BDC scheduleJun 30, 2026
V•••••• D••• C••••••• L•• first appears in a BDC schedule (1 lender)
New lender joined a facilityJun 30, 2026
B••••••••• P•••••• C••••• F••• joins W••••••• I•• other (unknown) held by 5 other BDCs
New borrower on a BDC scheduleJun 30, 2026
B••••• I•• first appears in a BDC schedule (4 lenders)
New borrower on a BDC scheduleJun 30, 2026
C••••• I•• first appears in a BDC schedule (1 lender)
New lender joined a facilityJun 30, 2026
B••••••••• P•••••• C••••• F••• joins P•••••• B•••• I• L•• other (unknown) held by 1 other BDC
New borrower on a BDC scheduleJun 30, 2026
A•••• C•• 4• D•• • U•••• first appears in a BDC schedule (1 lender)
New borrower on a BDC scheduleJun 30, 2026
B••••• B•• L••• F•••••• 2••••• first appears in a BDC schedule (1 lender)
New lender joined a facilityJun 30, 2026
B••••••••• P•••••• C••••• F••• joins M••••• B••••• I•• other (unknown) held by 1 other BDC
New borrower on a BDC scheduleJun 30, 2026
B•••••• G••••• U• H••••••• L•• first appears in a BDC schedule (1 lender)
Marked down (one lender)Jun 30, 2026
B••••••••• P•••••• C••••• F•••: fair value markdown in P•• T• H•••••••• I•• (100 to 94 cents on cost)
Marked down (one lender)Jun 30, 2026
B••••••••• P•••••• C••••• F•••: fair value markdown in G•••• D•• I••••••••• L•• (97 to 91 cents on cost)
Marked down (one lender)Jun 30, 2026
B••••••••• P•••••• C••••• F•••: fair value markdown in G• A••••••••• I•• (99 to 89 cents on cost)
Marked down (one lender)Jun 30, 2026
B••••••••• P•••••• C••••• F•••: fair value markdown in I••••• I•• (96 to 88 cents on cost)
Marked down (one lender)Jun 30, 2026
B••••••••• P•••••• C••••• F•••: fair value markdown in C••••••• B••••• I•• (97 to 87 cents on cost)
Marked down (one lender)Jun 30, 2026
B••••••••• P•••••• C••••• F•••: fair value markdown in O•• C•• 2••••••• L•• (92 to 86 cents on cost)

Every position change, including routine ones

Largest facilities held, with co-lenders

D••••••• I•• delayed draw term loan
2 BDCs hold it · matures Sep 9, 2030
$1.6B 100c
I•• G•••• H•••••••• I•• revolver
2 BDCs hold it · matures Dec 3, 2029
$1.6B 101c
I••••••• H•••••••• I•• delayed draw term loan
2 BDCs hold it · matures Nov 24, 2033
$1.3B 94c
G••••••••• I•• other
3 BDCs hold it · matures Dec 16, 2030
$1.2B 97c
M•••••••• I•• other
3 BDCs hold it · matures Oct 29, 2028 · S••••• C••••••
$1.2B 51c
M•••••••• B••••••••• I•• delayed draw term loan
2 BDCs hold it · matures May 18, 2029
$1.2B 102c
Z••••••• I•• revolver
3 BDCs hold it · matures Nov 22, 2028
$1.1B 99c
M••••••• F•••••••• delayed draw term loan
2 BDCs hold it · matures Sep 28, 2029
$1.1B 114c
L••• G••••• I•• delayed draw term loan
1 BDC hold it · matures May 10, 2030
$963M 101c
C•••••• L••••••• G••••• I•• revolver
2 BDCs hold it · matures Jul 20, 2028 · V•••••• C•••••• F••• M••••••••• L•••••
$958M 93c
T•••••••• B•••• L•••••• delayed draw term loan
2 BDCs hold it · matures Jul 1, 2031
$948M 99c
S•••• B•••• L•• other
5 BDCs hold it · matures Oct 17, 2031
$929M 100c

Schedule of investments at Jun 30, 2026

2,411 positions

Borrower	Instrument	Principal	Fair value	Rate	Maturity
Other Cash and Cash Equivalents	unstated lien unstated	n/a	$2.0B 100c
I•• G•••• H•••••••• I••.	revolver lien unstated	$1.6B	$1.6B 101c	S+425 bp	Dec 3, 2029
B•••• E•••••• J• L•	equity equity	n/a	$1.6B 85c
G•••••••••, Inc.	unstated lien unstated	$1.2B	$1.2B 97c	S+475 bp	Dec 16, 2030
D••••••• I••.	delayed draw term loan lien unstated	$1.2B	$1.1B 100c	S+492 bp	Dec 11, 2029
P••• A••••• L•• P•••• I• I••••••••• C••••••• L••	equity equity	n/a	$1.1B 101c	PIK 7.60%
I••••••• H•••••••• I••.	delayed draw term loan lien unstated	$1.1B	$1.1B 95c	S+550 bp PIK 2.75%	Nov 24, 2028
Z••••••• I••.	revolver lien unstated	$1.1B	$1.0B 99c	S+500 bp	Nov 22, 2028
M•••••••• B••••••••• I••.	delayed draw term loan lien unstated	$1.0B	$1.0B 101c	S+450 bp	May 18, 2029
S•••• B••••, Ltd.	unstated lien unstated	$929M	$929M 100c	S+518 bp	Oct 17, 2031
Mantech International, CP	revolver lien unstated	$882M	$867M 99c	S+450 bp	Sep 14, 2029
U•••••• W•••••• H••••••••• L•	unstated lien unstated	$865M	$865M 100c	S+500 bp	Jun 18, 2029
C•••••• L••••••• G••••• I••.	revolver lien unstated	$924M	$860M 93c	S+550 bp	Jul 20, 2028
A••••••, Inc.	unstated lien unstated	$845M	$832M 101c	S+575 bp	Jun 1, 2033
S••••• B••••• I••.	delayed draw term loan lien unstated	$748M	$703M 94c	S+650 bp PIK 5.50%	Jun 1, 2028
W••• M••••• P•••••••• L••	revolver lien unstated	$704M	$701M 100c	S+475 bp	Nov 8, 2028
A•••••••• H•••••••• L••	unstated lien unstated	$684M	$682M 100c	S+500 bp	Aug 31, 2029
I•• N•• S•• 2• L••	delayed draw term loan lien unstated	$643M	$636M 100c	S+475 bp	Dec 3, 2031
T•••• Holdings, LLC	unstated lien unstated	$636M	$636M 101c	S+475 bp	Jul 29, 2032
A•••••••• B••••, L••••••	delayed draw term loan lien unstated	$479M	$616M 107c	S+525 bp	Jun 28, 2029
S•••••••• P••••••••• I••.	unstated lien unstated	$621M	$614M 99c	S+467 bp	Oct 17, 2031
A••••••• I••.	revolver lien unstated	$624M	$614M 99c	S+450 bp	Jun 21, 2029
J•• H•••••••• I••.	delayed draw term loan lien unstated	$588M	$588M 101c	S+500 bp	Nov 8, 2031
P•• P••••••••• L••	unstated lien unstated	$577M	$576M 100c	S+450 bp	Dec 23, 2032
I• I••••••••• H•••••••• L••	revolver lien unstated	$574M	$574M 101c	S+500 bp	Sep 22, 2028
T•••••••• B••••, L••••••	delayed draw term loan lien unstated	$562M	$555M 101c	S+550 bp PIK 2.00%	Jul 1, 2031
N••••• T••••, L••••••	unstated lien unstated	$678M	$532M 79c	S+600 bp	Nov 13, 2028
C••••• B••••• I••.	delayed draw term loan lien unstated	$608M	$507M 84c	S+650 bp PIK 4.00%	Dec 21, 2028
S•••• P••••• H••••••• C•••.	unstated lien unstated	$507M	$505M 100c	S+475 bp PIK 2.25%	Dec 16, 2032
S•••• D••••••, LLC	revolver lien unstated	$510M	$495M 98c	S+590 bp	Dec 23, 2028
B••••••••• P•••••• R••• E••••• C••••• a•• I••••• F•••	equity equity	n/a	$487M 102c
B•••• P••••• H•••••••• I••.	revolver lien unstated	$493M	$482M 98c	S+450 bp	Nov 28, 2030
D•••••••• E••••••••• I••.	revolver lien unstated	$631M	$475M 76c	S+675 bp PIK 5.74%	Apr 9, 2029
S•••••••• B••••• G•••	revolver lien unstated	$675M	$469M 99c	S+550 bp	Nov 13, 2032
D••••••••• I••.	delayed draw term loan lien unstated	$460M	$460M 100c	S+450 bp	Jan 3, 2031
E••••••••• L••	delayed draw term loan lien unstated	$452M	$451M 101c	S+450 bp	Aug 15, 2032
D••••••• I••.	delayed draw term loan lien unstated	$453M	$448M 100c	S+492 bp	Sep 9, 2030
M•••••••• I••.	unstated lien unstated	$897M	$444M 51c	S+600 bp	Oct 29, 2028
L••• G••••• I••.	delayed draw term loan lien unstated	$443M	$443M 102c	S+425 bp	May 10, 2030
A•••••• A••••••••• L••.	delayed draw term loan lien unstated	$447M	$442M 100c	S+450 bp	Sep 30, 2031
C••••• U• 1• I••.	revolver lien unstated	$436M	$422M 98c	S+500 bp	May 25, 2029
N•••••••• A•••••••• I••.	delayed draw term loan lien unstated	$548M	$416M 76c	S+550 bp PIK 4.00%	Jul 16, 2030
S•••••• Finance One, Ltd.	unstated lien unstated	$413M	$410M 100c	S+500 bp	Oct 16, 2031
G••••••, Inc.	revolver lien unstated	$416M	$406M 98c	S+575 bp	Mar 9, 2029
T•••••• P••••••• H•••••••• L••	delayed draw term loan lien unstated	$415M	$404M 98c	S+524 bp	Dec 31, 2030
B••••••••• I••.	revolver lien unstated	$403M	$400M 99c	S+450 bp	May 7, 2029
G•• I••••••••• I••.	revolver lien unstated	$372M	$370M 101c	S+450 bp	Aug 5, 2030
C•••• I••••••••• L••	unstated lien unstated	$360M	$356M 100c	S+475 bp	Oct 4, 2029
C•••••••• C•••••• Holding Corp.	unstated lien unstated	$354M	$353M 100c	S+475 bp	Jun 16, 2033
J•• I•• I••.	unstated lien unstated	$352M	$351M 100c	S+450 bp	Sep 30, 2032
S•••••• A••••••••• L••	unstated lien unstated	$354M	$342M 97c	S+500 bp PIK 2.25%	Oct 1, 2031
M••••••• B••••, Inc.	unstated lien unstated	$339M	$337M 100c	S+475 bp	Dec 2, 2031
S•••••••• L•••••• Company, LLC - LLC Interest	unstated lien unstated	n/a	$332M 99c
J••• B••••• I••.	unstated lien unstated	$328M	$328M 101c	S+450 bp	Dec 15, 2030
J••••••• H•••••••• L••	revolver lien unstated	$328M	$324M 100c	S+475 bp	Nov 1, 2032
B••••••• I••••••••• #2, LP	revolver lien unstated	$332M	$323M 98c	S+550 bp PIK 3.00%	Oct 2, 2028
B•••• T•••• A••••••• G••••• L•	unstated lien unstated	$318M	$318M 101c	S+425 bp	Jun 3, 2031
V••••• L••••• G•••	unstated lien unstated	$253M	$313M 97c	S+475 bp	Mar 14, 2029
S••••••• S••••• S•••••••• P••••••••• L••	unstated lien unstated	$303M	$303M 101c	S+450 bp	Jul 1, 2031
S•••••• B••••• L••	unstated lien unstated	$302M	$300M 100c	S+500 bp	Dec 19, 2031
S•••• P•••• S•••••••• L••	revolver lien unstated	$289M	$289M 100c	S+500 bp	Oct 21, 2031
S••••••••• L••	revolver lien unstated	$298M	$288M 99c	S+450 bp	Feb 6, 2032
C•••••• B••••, Ltd.	delayed draw term loan lien unstated	$221M	$286M 102c	S+500 bp	Feb 2, 2029
L••• G••••• I••.	delayed draw term loan lien unstated	$281M	$281M 101c	S+425 bp	May 10, 2030
I•••••••• F•••••••• V•••••••• L••	delayed draw term loan lien unstated	$284M	$281M 99c	S+550 bp	Apr 29, 2030
O••• B•••••••• B••••• I••.	delayed draw term loan lien unstated	$279M	$279M 101c	S+475 bp	Apr 29, 2033
A••••• B••••• G•••	delayed draw term loan lien unstated	$243M	$278M 104c	S+450 bp	Sep 30, 2031
B••••• Group P••••••••, Inc.	revolver lien unstated	$280M	$277M 100c	S+475 bp	Apr 25, 2031
P••• E••••••• C•••.	unstated lien unstated	$276M	$274M 100c	S+425 bp	Dec 19, 2032
I•••••••• M•••••••• A••••••••• L••	unstated lien unstated	$265M	$264M 100c	S+500 bp	Aug 25, 2028
R•• H•••••••• L••	delayed draw term loan lien unstated	$266M	$258M 98c	S+575 bp	Dec 31, 2028
R••• P•••••• I••.	revolver lien unstated	$264M	$258M 99c	S+500 bp	Dec 20, 2030
B•••• P••••• H•••••••• I••.	revolver lien unstated	$262M	$256M 98c	S+450 bp	Nov 28, 2030
E•••••••• P•••• H•••••••• L••	delayed draw term loan lien unstated	$252M	$252M 100c	S+475 bp	Aug 17, 2031
J•• H•••••••• I••.	delayed draw term loan lien unstated	$248M	$248M 101c	S+500 bp	Nov 8, 2031
CB N••• H•••••, LLC	unstated lien unstated	$243M	$243M 101c	S+735 bp PIK 10.99%	Nov 26, 2029
L••• G••••• I••.	delayed draw term loan lien unstated	$239M	$239M 102c	S+425 bp	May 10, 2030
S•••• B••••, SASU	delayed draw term loan lien unstated	$210M	$238M 97c	S+440 bp	Aug 27, 2032
G••••• B•••••••, LLC	unstated lien unstated	$238M	$237M 100c	S+450 bp	Sep 29, 2028
G••••••••• S••••••• I••.	unstated lien unstated	$248M	$236M 96c	S+500 bp	Aug 28, 2030
C••••• U• 1• I••.	revolver lien unstated	$243M	$236M 97c	S+500 bp	May 25, 2029
S••••••• C••••• M••••••••• S•••••••• I••.	term loan lien unstated	$230M	$230M 101c	S+500 bp	Jul 30, 2032
D•• A••••••••• C•••.	unstated lien unstated	$237M	$230M 98c	S+500 bp	Jun 13, 2031
A••••• P•••••• I••.	revolver lien unstated	$226M	$226M 101c	S+475 bp	Oct 29, 2030
P••• M••••• Holdings, LLC	equity equity	n/a	$225M 105c
NAVEX TopCo, Inc.	unstated lien unstated	$222M	$219M 100c	S+500 bp	Oct 14, 2032
C•••••• V••••• B••••	delayed draw term loan lien unstated	$258M	$219M 86c	S+575 bp	Feb 23, 2029
J•••••• B••••• L••	delayed draw term loan lien unstated	$224M	$218M 98c	S+525 bp	Apr 15, 2028
C•• B•••••• L••	revolver lien unstated	$217M	$217M 101c	S+525 bp	Oct 2, 2030
M••••••• H•••••••• L••	unstated lien unstated	$235M	$214M 91c	S+600 bp PIK 4.72%	Aug 19, 2027
K••• B••••• L••	unstated lien unstated	$212M	$211M 100c	S+450 bp	Jul 23, 2031
B••• S•• B••••• L••	revolver lien unstated	$208M	$207M 100c	S+450 bp	Feb 28, 2033
C•••••• F•• A••••••••• I••.	unstated lien unstated	$204M	$204M 100c	S+450 bp	Feb 18, 2033
S••••••• S••••• H••••••••• S•••••••• L••	unstated lien unstated	$205M	$203M 100c	S+475 bp	Jan 5, 2033
P•••••• I••••••••• H•••••••• L••	unstated lien unstated	$203M	$203M 100c	S+525 bp PIK 3.25%	Dec 31, 2030
T•••••••• B••••, L••••••	delayed draw term loan lien unstated	$154M	$201M 97c	S+550 bp PIK 2.00%	Jul 1, 2031
B•••• T•••• A••••••• G••••• L•	unstated lien unstated	$200M	$200M 101c	S+475 bp	Jun 3, 2031
MRI S•••••••, LLC	unstated lien unstated	$204M	$200M 98c	S+475 bp	Feb 10, 2028
S• A••••••••• I••.	revolver lien unstated	$199M	$199M 101c	S+475 bp	Apr 3, 2030
S••••••• C•••••• H•••••, LLC	revolver lien unstated	$197M	$195M 100c	S+500 bp	May 1, 2031

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Registration

Fiscal year end: 1231reported
Incorporated: unknownreported
On the SEC BDC report: 2021 to 2026reported
Filings listed: 19reported10-Q and 10-K since 2022
Latest schedule: 0001803498-26-000048reported