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.

The names on this page are hidden. Create a free account and they fill in. No card, and every figure, date and source on this page is public either way.

BDC portfolio

L•••••••• S••••• U••• I•••

BDCnon-tradedCIK 1849089file 814-01427MIAMI, FLmanaged by L• B•• A••••••• L••

Fair value

$984M

as of Jun 30, 2026

Principal held

$881M

debt pieces, the filer's figure

Cost

$996M

99c on cost

Unfunded

$143M

commitments not yet drawn

Positions

153

62 borrowers

First lien

87%

88% debt by fair value

Quarters on the tape

since Dec 31, 2022

Facilities held

4 sponsors financed

Portfolio through time

Fair value by quarter end$984M as of Jun 30, 2026

Dec 31, 2021$0 then

Quarter	Fair value	Borrowers	On cost	PIK pos.	Avg spread
Jun 30, 2026	$984M	62	99c	1	671 bp
Mar 31, 2026	$822M	58	99c	1	672 bp
Dec 31, 2025	$849M	59	100c	1	664 bp
Sep 30, 2025	$747M	50	100c	1	667 bp
Jun 30, 2025	$732M	48	100c	1	661 bp
Mar 31, 2025	$669M	45	100c	1	654 bp
Dec 31, 2024	$1.2B	46	100c	2	677 bp
Sep 30, 2024	$461M	31	100c	1	684 bp
Jun 30, 2024	$422M	28	101c	1	685 bp
Mar 31, 2024	$331M	24	101c	1	705 bp
Dec 31, 2023	$301M	24	101c	1	702 bp
Sep 30, 2023	$170M	14	100c	1	728 bp
Jun 30, 2023	$151M	11	100c	0	791 bp
Mar 31, 2023	$131M	9	100c	0	788 bp
Dec 31, 2022	$225M	7	100c	2	802 bp
Dec 31, 2021	$0	2	n/a	0	n/a

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
S••• L••• O••••••••• I••••••••• L•• first appears in a BDC schedule (1 lender)
New borrower on a BDC scheduleJun 30, 2026
F•••••• S•••• S•••••••• L•• first appears in a BDC schedule (1 lender)
New lender joined a facilityJun 30, 2026
L•••••••• S••••• U••• I••• joins M•••••• C••••••• G••••• L•• term loan (first lien) held by 5 other BDCs
New borrower on a BDC scheduleJun 30, 2026
S••••• • A••••••••• L•• first appears in a BDC schedule (1 lender)
New borrower on a BDC scheduleJun 30, 2026
M••••••••• S•••••••• I•• first appears in a BDC schedule (1 lender)
New borrower on a BDC scheduleJun 30, 2026
H••• C•••• H••••• L•• first appears in a BDC schedule (1 lender)
Marked down (one lender)Jun 30, 2026
L•••••••• S••••• U••• I•••: fair value markdown in D••••• D•••••• H•••••••• L•• (132 to 116 cents on cost)
Maturity extended (observed)Jun 30, 2026
L•••••••• S••••• U••• I•••: maturity extended in A••••• H•••••••• L•• (2026-06-30 to 2026-09-30)
New borrower on a BDC scheduleMar 31, 2026
A••• M•••••• H•••••••• L•• first appears in a BDC schedule (1 lender)
Lender left a facilityMar 31, 2026
L•••••••• S••••• U••• I••• no longer holds I•••••••• P••••••••• L•• term loan after 2026-03-31; 2 BDC(s) still hold it
New borrower on a BDC scheduleMar 31, 2026
A•••• C•••••• A••••••• L•• first appears in a BDC schedule (1 lender)
Lender left a facilityMar 31, 2026
L•••••••• S••••• U••• I••• no longer holds T••••• G••••• L•• term loan after 2026-03-31; 4 BDC(s) still hold it
Marked down (one lender)Mar 31, 2026
L•••••••• S••••• U••• I•••: fair value markdown in D••••• D•••••• H•••••••• L•• (132 to 124 cents on cost)
Spread increasedMar 31, 2026
L•••••••• S••••• U••• I•••: spread increased in J••••••••• L•• (6.90% to 9.00%)
Spread increasedMar 31, 2026
L•••••••• S••••• U••• I•••: spread increased in C• S•••• L•• (6.00% to 7.40%)
Maturity extended (observed)Mar 31, 2026
L•••••••• S••••• U••• I•••: maturity extended in A••••• H•••••••• L•• (2026-03-31 to 2026-06-30)
Lender left a facilityDec 31, 2025
L•••••••• S••••• U••• I••• no longer holds T••••• O•• B•••• L•• term loan after 2025-12-31; 1 BDC(s) still hold it
Spread increasedDec 31, 2025
L•••••••• S••••• U••• I•••: spread increased in S•••• J•••• M•••• O• H••••••• L•• (4.00% to 5.85%)
New borrower on a BDC scheduleDec 31, 2025
S••• M••••••• L•• first appears in a BDC schedule (1 lender)
Maturity extended (observed)Dec 31, 2025
L•••••••• S••••• U••• I•••: maturity extended in A••••• H•••••••• L•• (2025-11-30 to 2026-03-31)

Every position change, including routine ones

Largest facilities held, with co-lenders

1•• D•••••• A•••••• first lien term loan
1 BDC hold it · matures May 30, 2029 · U••••••
$70.1M 86c
B••• F•••••• P•• C••• H••••••• I•• first lien term loan
1 BDC hold it · matures Jun 21, 2028
$47.8M 100c
I••••• E••••••• C••••••••• first lien term loan
1 BDC hold it · matures Apr 17, 2030
$43.6M 100c
D•••• N••••• H••••••• L•• first lien term loan
1 BDC hold it · matures Aug 24, 2028
$41.7M 98c
T•••• D••••••••• C•••••• L•• first lien term loan
1 BDC hold it · matures Mar 12, 2030
$40.0M 100c
F•••••••• I••••••••• C••• first lien term loan
3 BDCs hold it · matures Mar 25, 2030
$39.5M 100c
R••••• C••••••••• I•• first lien term loan
2 BDCs hold it · matures Jan 31, 2031
$37.6M 100c
t••••••••• L•• first lien term loan
1 BDC hold it · matures Feb 12, 2029
$36.4M 100c
C••• C•••••• P••••••• I••• L• first lien term loan
1 BDC hold it · matures Oct 11, 2027
$34.2M 101c
X•••• S••••••••• L•• first lien term loan
1 BDC hold it · matures Oct 7, 2029 · N•••••••• C••••••
$30.4M 98c
M••• M••• L•• first lien term loan
1 BDC hold it · matures Nov 10, 2028
$27.4M 100c
C••••••••• E••••••••• L•• first lien term loan
2 BDCs hold it · matures Jun 11, 2029
$24.6M 98c

Schedule of investments at Jun 30, 2026

153 positions

Borrower	Instrument	Principal	Fair value	Rate	Maturity
1•• D•••••• A•••••• (a/k/a R••• Gate Capital, LLC)	term loan first lien	$53.5M	$44.4M 86c	S+675 bp	May 30, 2029
I••••• E••••••• C•••••••••	term loan first lien	$43.6M	$43.4M 100c	S+650 bp	Apr 17, 2030
T•••• D••••••••• C•••••• L••	term loan first lien	$40.0M	$40.0M 100c	S+465 bp	Mar 12, 2030
F•••••••• I••••••••• C•••oration	term loan first lien	$39.5M	$39.3M 100c	S+545 bp	Mar 25, 2030
D•••• N••••• H••••••• L••	term loan first lien	$36.7M	$35.9M 98c	S+695 bp	Aug 24, 2028
C••• C•••••• P••••••• I••• L•	term loan first lien	$28.0M	$28.0M 100c	S+750 bp	Oct 11, 2027
R••••• C••••••••• I••.	term loan first lien	$27.8M	$27.8M 99c	S+550 bp	Jan 31, 2031
B••• F•••••• P•• C••• H••••••• I••.	term loan first lien	$27.5M	$27.5M 100c	S+695 bp	Jun 21, 2028
t••••••••• L••	term loan first lien	$23.9M	$23.9M 100c	S+720 bp	Feb 12, 2029
L•••••• L•••••• H••••••• L••	term loan first lien	$22.3M	$22.3M 99c	S+500 bp	Feb 28, 2030
X•••• S••••••••• L••	term loan first lien	$22.1M	$21.6M 98c	S+590 bp	Oct 7, 2029
B••• F•••••• P•• C••• H••••••• I••.	term loan first lien	$20.2M	$20.2M 101c	S+695 bp	Jun 21, 2028
C••••••••• E••••••••• L••	term loan first lien	$20.6M	$20.1M 98c	S+525 bp	Jun 11, 2029
S••••••• L••	term loan first lien	$19.9M	$19.9M 100c	S+745 bp	Dec 17, 2027
Med Learning Group, LLC	term loan first lien	$19.2M	$19.2M 100c	S+575 bp	Dec 30, 2027
S••• L••• O••••••••• I••••••••• L••	term loan first lien	$19.2M	$19.2M 100c	S+650 bp	Jan 28, 2031
S••• D••••• C••••••••• LLC	term loan first lien	$17.5M	$17.5M 100c	S+675 bp	Feb 15, 2028
J••••••••• L••	term loan first lien	$16.0M	$15.3M 97c	S+900 bp	Jan 31, 2030
S•••• J•••• M•••• O• H••••••• L••	term loan first lien	$15.3M	$15.3M 100c	S+585 bp	Apr 22, 2030
A•••••••• C•••••• G•••• L••	preferred equity equity	n/a	$15.0M 100c	10.00%
O•• I••••••••• L••	term loan first lien	$14.9M	$14.8M 100c	S+575 bp	Nov 20, 2030
C• S•••• L••	term loan first lien	$15.0M	$14.7M 99c	S+740 bp	Oct 1, 2029
A••• M•••••• H•••••••• L••	term loan first lien	$14.4M	$14.4M 101c	S+700 bp	Jan 15, 2030
D••••• D•••••• H•••••••• L••	preferred equity equity	n/a	$14.3M 77c	10.00%
N••••••• C••••••••• • C••••••••• L••	term loan first lien	$14.0M	$13.7M 98c	S+1225 bp	May 31, 2029
t••••••••• L••	term loan first lien	$12.5M	$12.5M 101c	S+720 bp	Feb 12, 2029
E•••••• T•••••••• I••••••••• L••	term loan first lien	$12.4M	$12.4M 101c	S+550 bp	Mar 31, 2030
M•••••• C••••••• Group LLC	term loan first lien	$12.3M	$12.2M 100c	S+525 bp	Oct 1, 2030
N•••• C•••••••• L•	equity equity	n/a	$12.1M 117c
L•••••••• S••••• L••• C•••••• L••	equity equity	n/a	$11.8M 100c
S•••••• D••••• M••••••••• L••	term loan first lien	$11.7M	$11.7M 100c	S+742 bp	Nov 25, 2030
M••• M••• L••	term loan first lien	$11.6M	$11.5M 99c	S+650 bp	Nov 10, 2028
S••••• • A••••••••• L••	term loan first lien	$11.5M	$11.4M 100c	S+625 bp	May 14, 2031
ZRG Partners LLC	term loan first lien	$11.2M	$11.2M 100c	S+600 bp	Jun 14, 2029
M••••••••• S•••••••• I••	term loan first lien	$11.0M	$10.8M 100c	S+675 bp	May 27, 2031
DRS I•••••• Services LLC	term loan first lien	$10.5M	$10.4M 99c	S+600 bp	Mar 28, 2030
L• H••••••••• L••	term loan first lien	$10.6M	$10.2M 97c	S+545 bp	Jul 25, 2031
L•••••••• S••••• S•••• L••	equity equity	n/a	$9.9M 100c
TEC Services LLC	term loan first lien	$9.8M	$9.8M 100c	S+550 bp	Dec 31, 2029
G•••••• F••• L•• L••	term loan first lien	$10.0M	$9.8M 99c	S+815 bp	Jun 6, 2030
M••• M••• L••	term loan first lien	$9.8M	$9.8M 100c	S+650 bp	Nov 10, 2028
D••••• D•••••• H•••••••• L••	term loan first lien	$9.6M	$9.6M 128c	S+1000 bp	Dec 3, 2026
ZRG Partners LLC	term loan first lien	$9.4M	$9.4M 100c	S+600 bp	Jun 14, 2029
F•••••• S•••• S•••••••• L••	term loan first lien	$9.2M	$9.2M 101c	S+625 bp	Apr 2, 2031
C• S•••• L••	term loan first lien	$9.0M	$8.8M 98c	S+740 bp	Oct 1, 2029
H••• C•••• H••••• L••	term loan first lien	$8.8M	$8.7M 100c	S+650 bp	Jun 3, 2029
SMG O•••••••• Company, LLC	term loan first lien	$8.5M	$8.4M 100c	S+500 bp	Dec 5, 2030
D••••• D•••••• H•••••••• L••	preferred equity equity	n/a	$8.1M 113c	10.00%
X•••• S••••••••• L••	term loan first lien	$8.3M	$8.1M 98c	S+590 bp	Oct 7, 2029
P•••• L••	term loan first lien	$8.1M	$8.1M 99c	S+575 bp	Jun 28, 2029
Prime IV Hydration & Wellness Inc. \| First lien senior secur	term loan first lien	$8.0M	$7.9M 101c	S+650 bp	Nov 25, 2030
N••••••••• G•••••• C••••••• F••• L••	equity equity	n/a	$7.7M 98c
C••• C•••••• P••••••• I••• L•	term loan first lien	$6.2M	$6.2M 101c	S+750 bp	Oct 11, 2027
M••• M••• L••	term loan first lien	$6.0M	$6.0M 100c	S+650 bp	Nov 10, 2028
F•••••• S•••• S•••••••• L••	term loan first lien	$5.7M	$5.7M 100c	S+625 bp	Apr 2, 2031
Med Learning Group, LLC	term loan first lien	$5.3M	$5.3M 100c	S+575 bp	Dec 30, 2027
R••••• C••••••••• I••.	term loan first lien	$5.3M	$5.3M 100c	S+550 bp	Jan 31, 2031
I•• G•• H••••••• L••	equity equity	n/a	$5.0M 102c
L•••••••• S••••• T••••••••• L••	equity equity	n/a	$4.9M 100c
D•••• N••••• H••••••• L••	term loan first lien	$5.0M	$4.9M 98c	S+695 bp	Aug 24, 2028
R••••• C••••••••• I••.	term loan first lien	$4.5M	$4.5M 101c	S+550 bp	Jan 31, 2031
T•••• R••••••• L••	equity equity	n/a	$4.5M 100c
L•• A••••••••• H•••••• L•	equity equity	n/a	$4.3M 99c
DRS I•••••• Services LLC	term loan first lien	$4.2M	$4.2M 100c	S+600 bp	Mar 28, 2030
D••••• D•••••• H•••••••• L••	term loan first lien	$4.0M	$4.0M 100c	S+1000 bp	Sep 30, 2026
C••••••••• E••••••••• L••	term loan first lien	$3.9M	$3.8M 98c	S+525 bp	Jun 11, 2029
P•••••• G••• L••• L••	preferred equity equity	n/a	$3.4M 100c	12.00%
L•••••• T•• H•••••••• L••	equity equity	n/a	$3.0M 100c
G•••• I••.	preferred equity equity	n/a	$3.0M 100c
S••••••• R••• E••••• I••••••••• L•	term loan first lien	$3.1M	$3.0M 97c	S+870 bp	Oct 6, 2026
S••• M••••••• L••	equity equity	n/a	$2.6M 100c
3••• F•••••••• L••	equity equity	n/a	$2.5M 100c
W••••• S•••••••• L••	equity equity	n/a	$2.4M 100c
S•••••• R•••• I••.	preferred equity equity	n/a	$2.0M 100c
S••••••• R••• E••••• I••••••••• L•	term loan first lien	$2.0M	$2.0M 97c	S+870 bp	Oct 6, 2026
Z•• H•••••••• I••.	subordinated debt unsecured or subordinated	$2.0M	$2.0M 100c	14.00% PIK 10.00%	Feb 12, 2027
ZRG Partners LLC	term loan first lien	$1.9M	$1.9M 101c	S+500 bp	Jun 14, 2029
1•• D•••••• A•••••• (a/k/a R••• Gate Capital, LLC)	term loan first lien	$2.2M	$1.8M 86c	S+675 bp	May 30, 2029
D•••• N••••• Topco LLC	preferred equity equity	n/a	$1.7M 88c
P•••• L••	term loan first lien	$1.7M	$1.7M 98c	S+575 bp	Jun 28, 2029
I••••• E••••••• C•••••••••	subordinated debt unsecured or subordinated	$1.6M	$1.6M 100c	S+1400 bp	Oct 17, 2030
S••••• L••••••••• L••	equity equity	n/a	$1.5M 100c
O•••••• H•••••• L••	notes lien unstated	$1.5M	$1.5M 100c	S+1000 bp	Dec 31, 2028
1•• D•••••• A•••••• (a/k/a R••• Gate Capital, LLC)	term loan first lien	$1.6M	$1.4M 86c	S+675 bp	May 30, 2029
L•••••••• S••••• M••••••• S••••••••• L••	equity equity	n/a	$1.1M 100c
1•• D•••••• A•••••• (a/k/a R••• Gate Capital, LLC)	term loan first lien	$1.3M	$1.1M 87c	S+675 bp	May 30, 2029
O•• I••••••••• L••	term loan first lien	$1.0M	$993,000 102c	S+575 bp	Nov 20, 2030
1•• D•••••• A•••••• (a/k/a R••• Gate Capital, LLC)	term loan first lien	$1.2M	$986,000 86c	S+675 bp	May 30, 2029
1•• D•••••• A•••••• (a/k/a R••• Gate Capital, LLC)	term loan first lien	$1.1M	$906,000 86c	S+675 bp	May 30, 2029
1•• D•••••• A•••••• (a/k/a R••• Gate Capital, LLC)	term loan first lien	$1.1M	$902,000 86c	S+675 bp	May 30, 2029
1•• D•••••• A•••••• (a/k/a R••• Gate Capital, LLC)	term loan first lien	$1.1M	$897,000 86c	S+675 bp	May 30, 2029
A••••• H•••••••• L••	term loan first lien	$884,000	$884,000 100c	S+700 bp	Sep 30, 2026
1•• D•••••• A•••••• (a/k/a R••• Gate Capital, LLC)	term loan first lien	$950,000	$788,000 87c	S+675 bp	May 30, 2029
1•• D•••••• A•••••• (a/k/a R••• Gate Capital, LLC)	term loan first lien	$945,000	$784,000 87c	S+675 bp	May 30, 2029
1•• D•••••• A•••••• (a/k/a R••• Gate Capital, LLC)	term loan first lien	$894,000	$742,000 87c	S+675 bp	May 30, 2029
1•• D•••••• A•••••• (a/k/a R••• Gate Capital, LLC)	term loan first lien	$813,000	$675,000 86c	S+675 bp	May 30, 2029
1•• D•••••• A•••••• (a/k/a R••• Gate Capital, LLC)	term loan first lien	$799,000	$663,000 87c	S+675 bp	May 30, 2029
1•• D•••••• A•••••• (a/k/a R••• Gate Capital, LLC)	term loan first lien	$797,000	$662,000 87c	S+675 bp	May 30, 2029
D••••• D•••••• H•••••••• L••	term loan first lien	$646,000	$646,000 100c	S+1000 bp	Dec 3, 2026
C•••••• C••• L••	term loan first lien	$619,000	$616,000 100c	S+800 bp	Sep 20, 2029

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Registration

Fiscal year end: 1231reported
Incorporated: DEreported
On the SEC BDC report: 2022 to 2026reported
Filings listed: 19reported10-Q and 10-K since 2022
Former names: L•••••••• S••••• Empire BDC, Inc.; L•••••••• S••••• Empire BDC, LLCreported
Latest schedule: 0001628280-26-051793reported