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••••• C•••
Fair value
$5.4B
as of Jun 30, 2026
Principal held
$5.1B
debt pieces, the filer's figure
Cost
$5.3B
101c on cost
Unfunded
$987M
commitments not yet drawn
Positions
1,061
530 borrowers
First lien
84%
93% debt by fair value
Quarters on the tape
16
since Dec 31, 2021
Facilities held
964
72 sponsors financed
Portfolio through time
Fair value by quarter end$5.4B as of Jun 30, 2026
Jul 8, 2021$76.2M then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $5.4B | 530 | 99c | 67 | 481 bp |
| May 27, 2026 | $20.0M | 1 | n/a | 0 | n/a |
| Mar 31, 2026 | $5.3B | 494 | 98c | 67 | 493 bp |
| Dec 31, 2025 | $4.9B | 517 | 100c | 69 | 502 bp |
| Nov 25, 2025 | $35.0M | 1 | n/a | 0 | n/a |
| Sep 30, 2025 | $4.6B | 398 | 100c | 70 | 527 bp |
| Jun 30, 2025 | $4.1B | 355 | 100c | 66 | 545 bp |
| Mar 31, 2025 | $3.5B | 324 | 99c | 63 | 558 bp |
| Dec 31, 2024 | $6.5B | 393 | 99c | 117 | 567 bp |
| Sep 30, 2024 | $3.0B | 322 | 99c | 58 | 577 bp |
| Jun 30, 2024 | $2.8B | 306 | 99c | 56 | 582 bp |
| Mar 31, 2024 | $2.7B | 312 | 99c | 57 | 586 bp |
| Dec 31, 2023 | $3.3B | 341 | 100c | 59 | 586 bp |
| Sep 30, 2023 | $2.3B | 306 | 98c | 39 | 586 bp |
| Jun 30, 2023 | $2.2B | 296 | 98c | 30 | 583 bp |
| Mar 31, 2023 | $2.2B | 295 | 98c | 29 | 585 bp |
| Feb 1, 2023 | $12.0M | 1 | n/a | 0 | n/a |
| Dec 31, 2022 | $2.6B | 315 | 98c | 32 | 581 bp |
| Aug 12, 2022 | $16.0M | 1 | n/a | 0 | n/a |
| Dec 31, 2021 | $117M | 3 | n/a | 0 | n/a |
| Sep 1, 2021 | n/a | 2 | n/a | 0 | n/a |
| Jul 8, 2021 | $76.2M | 1 | 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 lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- 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
- New lender joined a facilityJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- 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 borrower on a BDC scheduleJun 30, 2026
Largest facilities held, with co-lenders
- P•••••• C••••••••• first lien term loan13 BDCs hold it · matures Oct 1, 2032$79.8M 99c
- B••••• I•• first lien term loan3 BDCs hold it$77.3M 100c
- A•• P••••••••• L•• first lien term loan6 BDCs hold it · matures Apr 1, 2033$72.8M 100c
- S••••••••• L•• first lien term loan3 BDCs hold it$71.4M 100c
- C•• P•••••• L•• first lien term loan3 BDCs hold it$70.2M 100c
- V• S•••• I••••••••• I• L•• first lien term loan3 BDCs hold it$70.2M 100c
- R•• C••••••••• first lien term loan7 BDCs hold it · matures Aug 2, 2030$69.4M 100c
- A•• I• M•• H••••••• I•• first lien term loan3 BDCs hold it$61.6M 100c
- V•••• B••••• L•• first lien term loan5 BDCs hold it · matures Aug 7, 2030$61.2M 100c
- P•••••• F•••••••• B•••••• L•• first lien term loan3 BDCs hold it$59.8M 100c
- P••••• S••••••• C••••••• L•• first lien term loan3 BDCs hold it$58.3M 91c
- F••••• B••••• L•• first lien term loan5 BDCs hold it$57.3M 94c
Schedule of investments at Jun 30, 2026
1,061 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| P•••••••• M••••• | notes lien unstated | $182,000 | $181,000 99c | 5.90% | |
| P•••••••• M••••• | notes lien unstated | $182,000 | $181,000 99c | 8.50% | |
| P•••••••• M••••• | notes lien unstated | $182,000 | $180,000 99c | 4.70% | |
| P••••••••• L•• | equity equity | n/a | $179,000 275c | ||
| M••••••••• H•••••• B••. | term loan first lien | $251,000 | $170,000 67c | S+675 bp | |
| T••••••••• I••. | term loan unsecured or subordinated | $300,000 | $166,000 56c | PIK 14.00% | |
| F•• B•••• L•• | equity equity | n/a | $157,000 123c | ||
| N• H•••••• L•• | equity equity | n/a | $154,000 17c | ||
| S••••• A••••• I••. | revolver lien unstated | $349,000 | $152,000 44c | S+550 bp PIK 9.30% | |
| C••••••••• L•• | revolver lien unstated | $153,000 | $151,000 101c | S+525 bp | |
| C• B••••• L•• | equity equity | n/a | $145,000 104c | ||
| W••••••• F••••• L•• | preferred equity equity | n/a | $142,000 100c | PIK 20.00% | |
| A••••••••• B••• C••• L•• | term loan unsecured or subordinated | $137,000 | $139,000 101c | 14.00% | |
| P•••••• B•••• B••. | revolver lien unstated | $137,000 | $137,000 97c | S+650 bp | |
| L••••••••• L•• | equity equity | n/a | $133,000 211c | ||
| Q••• F•••••• L•• | term loan first lien | $133,000 | $130,000 97c | S+525 bp | |
| E• S••• B•••• | term loan unsecured or subordinated | $111,000 | $110,000 99c | S+800 bp | |
| F••••• B••••• L•• | equity equity | n/a | $109,000 | ||
| V• G• H••••••• I• C••• | term loan first lien | $99,000 | $99,000 100c | S+350 bp | |
| M••••• B••••, LLC | revolver lien unstated | $105,000 | $98,000 100c | S+475 bp | |
| P•••••• B•••• B••. | term loan first lien | $89,000 | $89,000 103c | S+600 bp | |
| M••••••••• H•••••• B••. | term loan first lien | $208,000 | $85,000 46c | S+600 bp | |
| E•• H•••••••• L•• | equity equity | n/a | $84,000 91c | ||
| P•••••• C••••••••• | equity equity | n/a | $83,000 198c | ||
| M••••••••• H•••••• B••. | revolver lien unstated | $197,000 | $80,000 46c | S+550 bp | |
| M•••••• H•••••• A• | equity equity | n/a | $73,000 66c | ||
| A•••• 1•••• G••• | preferred equity equity | n/a | $63,000 52c | ||
| T••• A•• D••••••••• L•• | preferred equity equity | n/a | $48,000 100c | ||
| A••••••••• A•••••••• G•••• P•• L•• (Laser Clinics A•••••••• Group) | term loan first lien | $45,000 | $46,000 98c | S+750 bp | |
| S••••••• B•••• S••••••. | term loan first lien | $43,000 | $43,000 100c | S+500 bp | |
| V•••• B••••• L•• | equity equity | n/a | $40,000 364c | ||
| T••• C•••••••• B••••• I••. | equity equity | n/a | $40,000 800c | ||
| T••• H•••••• C••• | revolver lien unstated | $76,000 | $39,000 54c | S+575 bp | |
| P••••••• D••••• H••••••• L•• | preferred equity equity | n/a | $39,000 300c | PIK 10.00% | |
| T• S• C••••• A••••••••• C•••. | equity equity | n/a | $38,000 158c | ||
| F•• B•••• L•• | equity equity | n/a | $36,000 124c | ||
| A•••• B•••• L•••••• | preferred equity equity | n/a | $35,000 25c | PIK 10.00% | |
| A•••• B•••• L•••••• | term loan lien unstated | n/a | $35,000 25c | PIK 10.00% | |
| L•••••• G•••• H••••••• B•••• L•••••• | revolver lien unstated | $35,000 | $34,000 97c | S+525 bp | |
| P••••••••• L•• | term loan unsecured or subordinated | $32,000 | $31,000 97c | 8.00% | |
| A•••• B•••• L•••••• | term loan unsecured or subordinated | $30,000 | $30,000 97c | 24.00% | |
| C••••• K•• F•••••• I• L•• | warrants equity | n/a | $24,000 | ||
| P•••••• I••••••• A••••••••• I••. | preferred equity equity | n/a | $22,000 100c | PIK 12.00% | |
| A•••••• A•••••••• C••••••••• | equity equity | n/a | $16,000 89c | ||
| G••• I• G••• | term loan first lien | $571,000 | $14,000 3c | PIK 10.00% | |
| A•••• B•••• L•••••• | equity equity | n/a | $7,000 100c | ||
| T••• A•• D••••••••• L•• | preferred equity equity | n/a | $0 0c | ||
| P•••••• I••••••• A••••••••• I••. | equity equity | n/a | $0 0c | ||
| M••••••• A••••••••• I••. | equity equity | n/a | $0 0c | ||
| M•••••• H•••••• A• | equity equity | n/a | $0 | ||
| G••• L•• | revolver lien unstated | $0 | $0 0c | S+600 bp | |
| E••••••• D•••••• T•••••• I••••••••• L•• H•••••• S••• | preferred equity equity | n/a | $0 | ||
| EMI P•••• H•••••, LLC | revolver lien unstated | $0 | $0 | S+550 bp PIK 9.10% | |
| T••• A•• D••••••••• L•• | equity equity | n/a | $0 0c | ||
| G• E•••• B••••• I••. | revolver lien unstated | $0 | $0 0c | S+475 bp | |
| R••• L•••• L•• | revolver lien unstated | $0 | $0 0c | S+550 bp | |
| A•••• B•••• L•••••• | equity equity | n/a | $0 | ||
| C• B••••• L•• | revolver lien unstated | $0 | $0 0c | S+625 bp | |
| M••••••••• H•••••• B••. | equity equity | n/a | $0 | ||
| C••••••• O••••••••• P••••••• C•••. | equity equity | n/a | $0 0c | ||
| C••••••• O••••••••• P••••••• C•••. | equity equity | n/a | $0 | ||
| B••••••• S•• | term loan first lien | $4.0M | $0 0c | S+400 bp PIK 6.00% | |
| E••••••• D•••••• T•••••• I••••••••• L•• H•••••• S••• | equity equity | n/a | $0 | ||
| E••••••• D•••••• T•••••• I••••••••• L•• H•••••• S••• | term loan unsecured or subordinated | $4.1M | $0 0c | S+700 bp PIK 9.10% | |
| D••••••••• L•• | preferred equity equity | n/a | $0 0c | ||
| D••••••••• L•• | equity equity | n/a | $0 0c | ||
| D••••••••• L•• | equity equity | n/a | $0 0c | ||
| G••• I• G••• | term loan first lien | $492,000 | $0 0c | S+600 bp PIK 8.90% | |
| S•••• I••••••••• I••• I••. | revolver lien unstated | $0 | $0 0c | S+450 bp | |
| N•••••••• R••••••••• L•• | revolver lien unstated | $0 | $0 0c | S+440 bp | |
| A••••• B••••• I••. | revolver lien unstated | $0 | $0 0c | S+525 bp | |
| C••••••• • G•••••• L•• | revolver lien unstated | $0 | $0 0c | S+475 bp | |
| S••••••• C••••••••• | equity equity | n/a | $0 | ||
| M•••• R•••••••• I••. (SpotSee) | revolver lien unstated | $0 | $0 0c | S+450 bp | |
| B•••••• M••••••• (UK) L•••••• | warrants equity | n/a | $0 | ||
| W•••• 5•• I••. | revolver lien unstated | $0 | $0 0c | S+450 bp | |
| H•••• C••••••••• S•••••• S••••••••• L•• | revolver lien unstated | $0 | $0 0c | S+675 bp | |
| T••••••••• I••. | equity equity | n/a | $0 0c | ||
| A••••••••• B••• C••• L•• | revolver lien unstated | $0 | $0 0c | S+475 bp | |
| C••••••• O••••••••• P••••••• C•••. | warrants equity | n/a | $0 | ||
| V• S•••• I••••••••• I• L•• | equity equity | n/a | $0 | ||
| E••••• I•••••••• G•••• I••. | revolver lien unstated | $0 | $0 0c | S+425 bp | |
| S•• H••••••• L• | revolver lien unstated | $0 | $0 0c | S+500 bp | |
| S••••• H•••••••• L•• (f/k/a S••••• Holdings, Inc.) | revolver lien unstated | $0 | $0 0c | S+450 bp | |
| C••••••• O••••••••• P••••••• C•••. | equity equity | n/a | $0 0c | ||
| A•••• 1•••• G••• | equity equity | n/a | $0 0c | ||
| S••••••• C••••••••• | equity equity | n/a | $0 | ||
| P••••• E•••••••••, L.L.C. | revolver lien unstated | $0 | $0 0c | S+450 bp | |
| G••• I• G••• | equity equity | n/a | $0 | ||
| US F•••••••• E••••••••• LLC | term loan first lien | $0 | $0 | S+350 bp | |
| R•• S••• M••••• S•• L•• | equity equity | n/a | $0 0c | ||
| M••••••••• H•••••• B••. | equity equity | n/a | $0 | ||
| M•••• R•••••••• I••. (SpotSee) | revolver lien unstated | $0 | $0 0c | S+450 bp | |
| S••••••••• G••••• I••. | revolver lien unstated | $0 | $0 0c | S+500 bp | |
| Z••••••• B•••• L•••••• | equity equity | n/a | $0 | ||
| I••••••••• L•• | warrants equity | n/a | $0 | ||
| A•••• B•••• L•••••• | equity equity | n/a | $0 0c | ||
| T••• C•••••••• B••••• I••. | revolver lien unstated | $0 | $-1,000 33c | S+450 bp | |
| P••••••••• L•• | revolver lien unstated | $0 | $-2,000 100c | S+500 bp | |
| A•• C••••••••• L•• | revolver lien unstated | $0 | $-3,000 150c | S+450 bp |
Registration
- Fiscal year end
- 1231reported
- Incorporated
- MDreported
- On the SEC BDC report
- 2021 to 2025reported
- Filings listed
- 19reported10-Q and 10-K since 2022
- Former names
- B•••••• P•••••• Credit LLCreported
- Latest schedule
- 0001859919-26-000068reported