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
MSD Investment Corp.
BDCnon-tradedCIK 1849894file 814-01481NEW YORK, NYadviser not yet read from the 10-K
Fair value
$6.9B
as of Jun 30, 2026
Principal held
$6.9B
debt pieces, the filer's figure
Cost
$6.9B
100c on cost
Unfunded
$326,000
commitments not yet drawn
Positions
349
127 borrowers
First lien
1%
100% debt by fair value
Quarters on the tape
15
since Dec 31, 2022
Facilities held
188
11 sponsors financed
Portfolio through time
Fair value by quarter end$6.9B as of Jun 30, 2026
Dec 31, 2022$4.9B then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $6.9B | 127 | 100c | 21 | 564 bp |
| Mar 31, 2026 | $6.8B | 114 | 99c | 28 | 555 bp |
| Dec 31, 2025 | $6.4B | 111 | 100c | 24 | 557 bp |
| Sep 30, 2025 | $5.6B | 102 | 100c | 25 | 564 bp |
| Jun 30, 2025 | $5.1B | 98 | 100c | 22 | 569 bp |
| Mar 31, 2025 | $25B | 95 | 100c | 22 | 570 bp |
| Dec 31, 2024 | $23B | 104 | 100c | 22 | 573 bp |
| Sep 30, 2024 | $21B | 95 | 100c | 13 | 576 bp |
| Jun 30, 2024 | $17B | 84 | 100c | 13 | 577 bp |
| Mar 31, 2024 | $13B | 68 | 100c | 10 | 597 bp |
| Dec 31, 2023 | $11B | 63 | 100c | 8 | 613 bp |
| Sep 30, 2023 | $8.8B | 57 | 99c | 8 | 630 bp |
| Jun 30, 2023 | $7.9B | 56 | 99c | 8 | 633 bp |
| Mar 31, 2023 | $6.0B | 47 | 97c | 6 | 642 bp |
| Dec 31, 2022 | $4.9B | 41 | 96c | 6 | 648 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
- 4 borrowers $253M
- H.I.G. Capital, LLC carried2 borrowers $120M
- Platinum Equity Advisors, LLC carried1 borrower $299M
- STG Partners, LLC carried1 borrower $251M
- Paine Schwartz Partners, LLC carried1 borrower $135M
- Littlejohn & Co., LLC carried1 borrower $86.0M
- Warburg Pincus LLC carried1 borrower $83.5M
- Factorial Funds Management LLC carried1 borrower $76.7M
- Novacap Management Inc. carried1 borrower $75.0M
- 1 borrower $67.1M
- Odyssey Investment Partners, LLC carried1 borrower $34.2M
- Aquiline Management Holdings LP carried1 borrower $25.1M
- 1 borrower $23.8M
- Upper90 carried1 borrower $16.8M
- SUN Capital Advisors, L.P. carried1 borrower $1.3M
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
- New lender joined a facilityJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
Largest facilities held, with co-lenders
- Food other1 BDC hold it · matures Sep 2, 2032$288M 98c
- Consumer Durables & Apparel AmerSpirit FL LLC delayed draw term loan1 BDC hold it · matures Aug 15, 2030$195M 100c
- Patientpoint other1 BDC hold it · matures Oct 15, 2032$185M 102c
- Commercial & Professional Services Brown & Root term loan1 BDC hold it · matures Oct 3, 2030$175M 100c
- Raptive term loan1 BDC hold it · matures Mar 23, 2028$156M 98c
- Commercial & Professional Services Metropolis term loan1 BDC hold it · matures Nov 3, 2032$149M 100c
- Capital Goods Valeron Group, LLC other1 BDC hold it · matures Oct 18, 2031$148M 100c
- J & J Ventures Gaming LLC other1 BDC hold it · matures Apr 26, 2028$133M 102c
- Commercial & Professional Services Elessent Clean Technologies Inc other1 BDC hold it · matures Nov 15, 2029$132M 100c
- Commercial & Professional Services Ethos other1 BDC hold it · matures Dec 30, 2029$131M 100c
- Solvias AG revolver1 BDC hold it · matures Feb 27, 2032$130M 111c
- ONBE, Inc other2 BDCs hold it · matures Jul 25, 2031$128M 100c
Schedule of investments at Jun 30, 2026
349 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| Patientpoint Health Care Equipment & Services | unstated lien unstated | $185M | $181M 102c | SOFR+500 bp | Oct 15, 2032 |
| Commercial & Professional Services Brown & Root | term loan lien unstated | $175M | $173M 100c | SOFR+500 bp | Oct 3, 2030 |
| Consumer Durables & Apparel AmerSpirit FL LLC | delayed draw term loan lien unstated | $174M | $172M 100c | SOFR+475 bp | Aug 15, 2030 |
| Solvias AG Pharmaceuticals | revolver lien unstated | $130M | $158M 111c | //msdinvestmentcorp.com/20260630#Swiss Average Rate Overnight+550 bp | Feb 27, 2032 |
| Commercial & Professional Services Metropolis | term loan lien unstated | $149M | $147M 100c | SOFR+525 bp | Nov 3, 2032 |
| Capital Goods Valeron Group, LLC | unstated lien unstated | $148M | $145M 100c | SOFR+550 bp | Oct 18, 2031 |
| Raptive Media & Entertainment | term loan lien unstated | $149M | $143M 98c | SOFR+425 bp | Mar 23, 2028 |
| J&J Ventures Gaming LLC Consumer Services | unstated lien unstated | $133M | $133M 102c | SOFR+511 bp | Apr 26, 2028 |
| Commercial & Professional Services Elessent Clean Technologies Inc. | unstated lien unstated | $132M | $130M 100c | SOFR+600 bp | Nov 15, 2029 |
| Commercial & Professional Services Ethos | unstated lien unstated | $131M | $128M 100c | SOFR+550 bp | Dec 30, 2029 |
| Onbe Inc. Financial Services | unstated lien unstated | $128M | $126M 100c | SOFR+525 bp | Jul 25, 2031 |
| Capital Goods Cook & Boardman Group | unstated lien unstated | $122M | $120M 100c | SOFR+600 bp | Mar 4, 2030 |
| SurveyMonkey Global Inc. Software & Services | revolver lien unstated | $124M | $120M 98c | SOFR+575 bp | May 31, 2030 |
| CareVet LLC Health Care Equipment & Services | term loan lien unstated | $112M | $112M 100c | SOFR+600 bp | Jun 18, 2029 |
| Cadogan Tate Transportation | unstated lien unstated | $111M | $109M 100c | SOFR+575 bp | Nov 7, 2031 |
| Capital Goods Sky Merger Sub, LLC | unstated lien unstated | $103M | $102M 100c | SOFR+635 bp | May 28, 2029 |
| Food, Beverage & Tobacco Inspired Pet Nutrition GBP | unstated lien unstated | $77.5M | $101M 99c | //msdinvestmentcorp.com/20260630#Sterling Overnight Index Average+550 bp | Sep 2, 2032 |
| Commercial & Professional Services S4T Holdings Corp | unstated lien unstated | $99.6M | $98.1M 100c | SOFR+525 bp | Jun 30, 2032 |
| Capital Goods Michael Baker | unstated lien unstated | $99.5M | $96.6M 100c | SOFR+450 bp | Dec 1, 2028 |
| Highgate Hotels, L.P. Consumer Services | unstated lien unstated | $97.5M | $95.8M 99c | SOFR+550 bp | Nov 5, 2029 |
| Kite UK Bidco Ltd Consumer Staples Distribution & Retail | delayed draw term loan lien unstated | $71.5M | $93.5M 99c | //msdinvestmentcorp.com/20260630#Sterling Overnight Index Average+575 bp | Sep 20, 2031 |
| Household & Personal Products Parfums Holdings Co.Reference Rate and | unstated lien unstated | $92.9M | $92.3M 100c | SOFR+500 bp | Jun 27, 2030 |
| Learnosity Software & Services | revolver lien unstated | $91.3M | $87.9M 97c | SOFR+525 bp | Jan 15, 2031 |
| Capital Goods Texas Hydraulics | unstated lien unstated | $88.7M | $87.3M 100c | SOFR+625 bp | Nov 20, 2030 |
| FEG, Inc. Consumer Services | revolver lien unstated | $85.8M | $84.7M 100c | SOFR+475 bp | May 10, 2030 |
| Capital Goods Great Day Improvements LLC | unstated lien unstated | $84.3M | $80.6M 97c | SOFR+561 bp | Jun 13, 2030 |
| Chuck E. Cheese Consumer Services | unstated lien unstated | $79.0M | $78.0M 100c | SOFR+600 bp | Sep 26, 2030 |
| Integral Ad Science Holding Corp Media & Entertainment | unstated lien unstated | $75.0M | $74.3M 105c | SOFR+500 bp | Dec 23, 2031 |
| Food, Beverage & Tobacco Tequilas Premium - Mexico | unstated lien unstated | $75.0M | $73.6M 100c | SOFR+100 bp | Mar 6, 2031 |
| Food, Beverage & Tobacco Tequilas Premium - US | unstated lien unstated | $73.1M | $71.8M 100c | SOFR+950 bp | Mar 6, 2031 |
| First Bien Debt Capital Goods Cook & Boardman Group | delayed draw term loan lien unstated | $69.7M | $68.6M 100c | SOFR+600 bp | Mar 4, 2030 |
| Commercial & Professional Services RPX Corporation | unstated lien unstated | $67.7M | $67.1M 100c | SOFR+550 bp | Aug 2, 2030 |
| Echo Global Logistics Inc. Transportation | unstated lien unstated | $68.3M | $67.0M 102c | SOFR+450 bp | Nov 23, 2028 |
| Commercial & Professional Services True Talent Advisory Borrower, LLC | unstated lien unstated | $67.5M | $66.2M 100c | SOFR+525 bp | Jan 9, 2033 |
| Commercial & Professional Services BDO USA, P.C. | unstated lien unstated | $67.1M | $65.5M 99c | SOFR+500 bp | Aug 31, 2028 |
| Legends Hospitality Holding Company Consumer Services | unstated lien unstated | $65.8M | $64.9M 100c | SOFR+550 bp PIK 2.75% | Aug 22, 2031 |
| Agrofresh Materials | revolver lien unstated | $65.4M | $64.7M 100c | SOFR+550 bp | Mar 31, 2030 |
| Sandlot Baseball Borrower Co. Consumer Services | unstated lien unstated | $65.0M | $64.4M 100c | SOFR+475 bp | Dec 27, 2030 |
| Sandlot Baseball Borrower Co. Consumer Services | delayed draw term loan lien unstated | $63.8M | $63.3M 100c | SOFR+475 bp | Dec 27, 2030 |
| Consumer Durables & Apparel AmerSpirit FL LLC | unstated lien unstated | $59.0M | $58.3M 100c | SOFR+475 bp | Aug 15, 2030 |
| Capital Goods Frontgrade Technologies Inc. | unstated lien unstated | $59.4M | $57.6M 98c | SOFR+500 bp | Jan 9, 2030 |
| AVSC Holding Corporation Media & Entertainment | revolver lien unstated | $58.0M | $57.1M 100c | SOFR+500 bp | Dec 5, 2031 |
| Alteryx, Inc. Software & Services | delayed draw term loan lien unstated | $59.2M | $56.2M 96c | SOFR+600 bp | Mar 19, 2031 |
| JLL Partners Fund VII Secondary Financial Services | unstated lien unstated | $56.9M | $56.2M 100c | SOFR+675 bp | Apr 29, 2032 |
| Boasso Global Transportation | unstated lien unstated | $57.5M | $56.0M 99c | SOFR+475 bp | Mar 31, 2028 |
| Cargotuff Buyer LLC Materials | unstated lien unstated | $56.4M | $55.9M 100c | SOFR+550 bp | Jan 29, 2032 |
| MYOB Invest Co Pty Ltd and MYOB US Borrower LLC Software & Services | unstated lien unstated | $77.2M | $51.4M 104c | //msdinvestmentcorp.com/20260630#Bank Bill Swap Rate+550 bp PIK 3.00% | Jun 6, 2030 |
| Pharmalogic Holdings Corp. Pharmaceuticals | delayed draw term loan lien unstated | $73.5M | $51.3M 97c | SOFR+500 bp | Jun 21, 2030 |
| Commercial & Professional Services Best Trash LLC | unstated lien unstated | $51.6M | $51.1M 100c | SOFR+475 bp | Jul 10, 2031 |
| Southampton FC Media & Entertainment | revolver lien unstated | $38.5M | $50.6M 100c | //msdinvestmentcorp.com/20260630#Sterling Overnight Index Average+600 bp | Sep 20, 2029 |
| St. Croix Health Care Equipment & Services | revolver lien unstated | $51.4M | $49.7M 97c | SOFR+450 bp | Oct 24, 2032 |
| Natural Partners, Inc. Health Care Equipment & Services | revolver second lien | $50.1M | $49.7M 100c | SOFR+450 bp | Nov 29, 2030 |
| Capital Goods Systems Planning and Analysis, Inc. | delayed draw term loan lien unstated | $49.8M | $49.6M 100c | SOFR+475 bp | Aug 16, 2027 |
| 7Ridge Investments Financial Services | delayed draw term loan first lien | $50.3M | $49.5M 100c | SOFR+900 bp PIK 12.73% | Jul 7, 2027 |
| Capital Goods ASC Engineered Solutions | unstated lien unstated | $49.3M | $48.9M 100c | SOFR+475 bp | Jul 10, 2031 |
| Capital Goods Valeron Group, LLC | delayed draw term loan lien unstated | $49.3M | $48.3M 100c | SOFR+550 bp | Oct 18, 2031 |
| Food, Beverage & Tobacco Inspired Pet Nutrition EUR | unstated lien unstated | $42.5M | $47.9M 98c | SOFR+550 bp | Jun 30, 2030 |
| Chemcat Acquisition Co LLC Materials | unstated lien unstated | $49.8M | $47.8M 100c | SOFR+475 bp | Mar 2, 2033 |
| Capital Goods Brock Holdings III, LLC | unstated lien unstated | $51.8M | $46.6M 91c | SOFR+600 bp | May 1, 2030 |
| Watchguard Technologies, Inc. Software & Services | unstated lien unstated | $49.6M | $45.9M 95c | SOFR+525 bp | Jul 2, 2029 |
| Aviation Institute of Maintenance Add on Consumer Services | unstated lien unstated | $46.0M | $45.1M 100c | SOFR+700 bp | May 3, 2029 |
| Gibson Media & Entertainment | term loan lien unstated | $34.5M | $44.9M 99c | //msdinvestmentcorp.com/20260630#Sterling Overnight Index Average+525 bp | Mar 9, 2030 |
| PetVet Care Centers Health Care Equipment & Services | revolver lien unstated | $52.2M | $44.0M 86c | SOFR+600 bp | Nov 15, 2030 |
| Foundation Risk Partners Insurance | delayed draw term loan lien unstated | $44.1M | $44.0M 101c | SOFR+475 bp | Oct 29, 2030 |
| TPC Group, Inc. Materials | unstated lien unstated | $44.4M | $43.0M 98c | SOFR+575 bp | Nov 24, 2031 |
| Travelport Finance (Luxembourg) S.A.R.L Financial Services | unstated lien unstated | $57.6M | $42.6M 74c | SOFR+726 bp | Sep 30, 2028 |
| Anvil Bidco - EUR Materials | unstated lien unstated | $37.4M | $41.9M 98c | EURIBOR+625 bp | May 29, 2032 |
| Anvil Bidco - USD Materials | unstated lien unstated | $41.6M | $40.8M 100c | SOFR+651 bp | May 29, 2032 |
| Townsquare Media Inc. Media & Entertainment | unstated lien unstated | $54.1M | $39.4M 78c | SOFR+500 bp | Feb 13, 2030 |
| Inmar, Inc. Media & Entertainment | unstated lien unstated | $40.7M | $35.5M 90c | SOFR+450 bp | Oct 30, 2031 |
| Commercial & Professional Services S.A.F.E. Management | unstated lien unstated | $34.8M | $34.5M 100c | SOFR+475 bp | Nov 24, 2031 |
| Vision Purchaser Corp. Media & Entertainment | unstated lien unstated | $35.4M | $34.3M 97c | SOFR+635 bp | Dec 10, 2026 |
| Helios UK Bidco Limited Materials | revolver lien unstated | $26.2M | $33.9M 97c | //msdinvestmentcorp.com/20260630#Sterling Overnight Index Average+550 bp | Mar 2, 2031 |
| CareVet LLC Health Care Equipment & Services | delayed draw term loan lien unstated | $33.0M | $32.8M 101c | SOFR+600 bp | Jun 18, 2029 |
| Spartan College LLC Consumer Services | delayed draw term loan lien unstated | $33.3M | $32.5M 100c | SOFR+1000 bp | Mar 25, 2031 |
| Aviation Institute of Maintenance Consumer Services | unstated lien unstated | $32.6M | $31.9M 100c | SOFR+700 bp | May 3, 2029 |
| Texas Infrastructure Holdings, L.L.C. Materials | unstated lien unstated | $31.3M | $30.7M 100c | SOFR+800 bp | Dec 22, 2027 |
| J&J Ventures Gaming LLC Add on Consumer Services | unstated lien unstated | $29.9M | $29.9M 101c | SOFR+500 bp | Apr 26, 2030 |
| Hotel Equities Group, LLC Consumer Services | revolver lien unstated | $29.1M | $28.8M 100c | SOFR+575 bp | Jan 22, 2029 |
| Capital Goods Confluent Holdings LLC | unstated lien unstated | $28.8M | $28.2M 100c | SOFR+700 bp | Mar 28, 2029 |
| ALF Finance Financial Services | unstated lien unstated | $27.6M | $27.6M 100c | SOFR+800 bp | Dec 10, 2029 |
| CoreWeave Software & Services | delayed draw term loan lien unstated | $26.9M | $26.9M 101c | SOFR+600 bp | Aug 26, 2030 |
| Healthco Investment LTD EUR Health Care Equipment & Services | unstated lien unstated | $26.6M | $26.0M | EURIBOR+575 bp | Sep 9, 2032 |
| Alteryx, Inc. Software & Services | unstated lien unstated | $26.1M | $24.7M 96c | SOFR+600 bp | Mar 19, 2031 |
| Innovate Corp. Media & Entertainment | unstated lien unstated | $27.8M | $24.2M 87c | 10.50% | Feb 1, 2027 |
| Fullsteam Financial Services | unstated lien unstated | $24.2M | $24.0M 100c | SOFR+525 bp | Aug 8, 2031 |
| Candle Media Co Ltd Media & Entertainment | delayed draw term loan second lien | $27.2M | $22.7M 84c | SOFR+610 bp PIK 3.50% | Jun 18, 2029 |
| 7Ridge Investments Financial Services | delayed draw term loan first lien | $23.0M | $22.6M 100c | SOFR+900 bp PIK 12.73% | Jul 7, 2027 |
| Capital Goods DFS Holdings Company, Inc. | unstated lien unstated | $22.4M | $21.0M 95c | SOFR+750 bp PIK 5.00% | Jan 31, 2030 |
| Food, Beverage & Tobacco Inspired Pet Nutrition EUR | delayed draw term loan lien unstated | $18.3M | $20.6M 97c | SOFR+550 bp | Sep 2, 2032 |
| Consumer Durables & Apparel AmerSpirit FL LLC | delayed draw term loan lien unstated | $21.0M | $20.5M 100c | SOFR+475 bp | Aug 15, 2030 |
| Commercial & Professional Services S.A.F.E. Management | delayed draw term loan lien unstated | $20.2M | $20.0M 100c | SOFR+475 bp | Nov 24, 2031 |
| Sheffield United F.C. Media & Entertainment | delayed draw term loan lien unstated | $15.0M | $19.7M 98c | //msdinvestmentcorp.com/20260630#Sterling Overnight Index Average+525 bp | Jan 14, 2030 |
| CareVet LLC Health Care Equipment & Services | delayed draw term loan lien unstated | $19.8M | $19.7M 101c | SOFR+600 bp | Jun 18, 2029 |
| Foundation Risk Partners Insurance | unstated lien unstated | $19.5M | $19.4M 100c | SOFR+475 bp | Oct 29, 2030 |
| Pharmalogic Holdings Corp. Pharmaceuticals | delayed draw term loan lien unstated | $19.6M | $19.4M 100c | SOFR+500 bp | Jun 21, 2030 |
| Capital Goods Systems Planning and Analysis, Inc. | delayed draw term loan lien unstated | $19.2M | $19.1M 100c | SOFR+475 bp | Aug 16, 2027 |
| LJ Perimeter Buyer, Inc. Consumer Staples Distribution & Retail | delayed draw term loan lien unstated | $18.8M | $18.6M 100c | SOFR+565 bp | Oct 31, 2031 |
| Aviation Institute of Maintenance Consumer Services | delayed draw term loan lien unstated | $19.0M | $18.6M 100c | SOFR+700 bp | May 3, 2029 |
| K1 Speed Inc. Consumer Services | delayed draw term loan lien unstated | $18.2M | $17.9M 99c | SOFR+625 bp | Jan 2, 2029 |
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Registration
- Fiscal year end
- 1231reported
- Incorporated
- MDreported
- On the SEC BDC report
- 2022 to 2026reported
- Filings listed
- 18reported10-Q and 10-K since 2022
- Former names
- MSD Investment, LLC; MSD Investment Corp., LLCreported
- Latest schedule
- 0001193125-26-352436reported