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
Onex Direct Lending BDC Fund
Fair value
$288M
as of Jun 30, 2026
Principal held
$322M
debt pieces, the filer's figure
Cost
$323M
89c on cost
Unfunded
$15.2M
commitments not yet drawn
Positions
100
47 borrowers
First lien
98%
99% debt by fair value
Quarters on the tape
14
since Dec 31, 2022
Facilities held
95
9 sponsors financed
Portfolio through time
Fair value by quarter end$288M as of Jun 30, 2026
Dec 31, 2022$2.0B then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $288M | 47 | 90c | 6 | 497 bp |
| Mar 31, 2026 | $352M | 66 | 87c | 8 | 492 bp |
| Dec 31, 2025 | $409M | 73 | 92c | 7 | 490 bp |
| Sep 30, 2025 | $407M | 70 | 93c | 7 | 498 bp |
| Jun 30, 2025 | $468M | 59 | 96c | 7 | 510 bp |
| Mar 31, 2025 | $2.1B | 64 | 97c | 7 | 523 bp |
| Dec 31, 2024 | $2.1B | 62 | 98c | 13 | 566 bp |
| Sep 30, 2024 | $2.0B | 50 | 97c | 9 | 603 bp |
| Jun 30, 2024 | $907M | 43 | 98c | 9 | 634 bp |
| Mar 31, 2024 | $2.0B | 36 | 99c | 5 | 653 bp |
| Dec 31, 2023 | $2.3B | 39 | 99c | 6 | 658 bp |
| Sep 30, 2023 | $2.1B | 37 | 99c | 6 | 657 bp |
| Jun 30, 2023 | $2.1B | 33 | 99c | 1 | 641 bp |
| Dec 31, 2022 | $2.0B | 34 | 99c | 1 | 643 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 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 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 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 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
Largest facilities held, with co-lenders
- Medallia, Inc first lien term loan5 BDCs hold it · matures Oct 29, 2028$27.4M 39c
- MMS Bidco LLC first lien term loan1 BDC hold it · matures Jun 30, 2029$24.1M 96c
- BCDI Meteor Acquisition, LLC first lien term loan3 BDCs hold it · matures Jun 29, 2028$23.6M 100c
- Keystone Purchaser, LLC first lien term loan5 BDCs hold it · matures May 7, 2027$20.5M 100c
- Apryse Software Corp first lien term loan4 BDCs hold it · matures Jun 26, 2032$14.8M 97c
- Axiom Merger Sub Inc first lien term loan5 BDCs hold it · matures Oct 2, 2028$14.7M 97c
- Bullhorn, Inc first lien term loan20 BDCs hold it · matures Oct 1, 2029 · Genstar Capital$14.7M 96c
- CoolSys, Inc first lien term loan7 BDCs hold it · matures Feb 11, 2030$9.1M 78c
- Specialty Pharma III, Inc first lien term loan4 BDCs hold it · matures Dec 23, 2032$8.9M 100c
- Montana Buyer, Inc first lien term loan5 BDCs hold it · matures Sep 10, 2030$8.8M 100c
- CP Atlas Buyer, Inc first lien term loan5 BDCs hold it · matures Jul 8, 2030$8.4M 91c
- Deerfield Dakota Holding, LLC first lien term loan25 BDCs hold it · matures Sep 13, 2032$8.1M 99c
Schedule of investments at Jun 30, 2026
100 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| BCDI Meteor Acquisition, LLC Consumer Goods: Durable | term loan first lien | $23.6M | $23.5M 100c | SOFR+700 bp | Jun 29, 2028 |
| MMS Bidco LLC Healthcare & Pharmaceuticals | term loan first lien | $24.1M | $22.9M 96c | SOFR+538 bp | Jun 30, 2029 |
| Keystone Purchaser, LLC Transportation: Cargo | term loan first lien | $20.5M | $20.3M 100c | SOFR+575 bp | May 7, 2027 |
| Axiom Global Inc. Business Services | term loan first lien | $14.7M | $14.2M 97c | SOFR+475 bp | Oct 2, 2028 |
| Apryse Software Corp High Tech Industries | term loan first lien | $14.8M | $14.2M 97c | SOFR+450 bp | Jun 26, 2032 |
| Bullhorn, Inc. High Tech Industries | term loan first lien | $14.7M | $14.1M 96c | SOFR+500 bp | Oct 1, 2029 |
| Medallia, Inc. High Tech Industries | term loan first lien | $27.4M | $10.7M 39c | SOFR+600 bp PIK 4.00% | Oct 29, 2028 |
| Specialty Pharma III Inc. Healthcare & Pharmaceuticals | term loan first lien | $8.9M | $8.9M 100c | SOFR+475 bp | Dec 23, 2032 |
| Montana Buyer Inc. Business Services | term loan first lien | $8.8M | $8.7M 100c | SOFR+475 bp | Jul 22, 2029 |
| Deerfield Dakota Holding, LLC Financial Services | term loan first lien | $8.1M | $8.0M 99c | SOFR+300 bp PIK 2.75% | Sep 13, 2032 |
| CP Atlas Buyer, Inc. Construction & Building | term loan first lien | $8.4M | $7.4M 91c | SOFR+525 bp | Jul 8, 2030 |
| CoolSys, Inc. Business Services | term loan first lien | $9.1M | $7.1M 78c | SOFR+600 bp PIK 3.50% | Feb 11, 2030 |
| Offen, Inc Transportation: Cargo | term loan first lien | $6.8M | $6.7M 99c | SOFR+500 bp | Jul 22, 2030 |
| Jackson Paper Manufacturing Company Forest Products & Paper | term loan first lien | $6.7M | $6.6M 99c | SOFR+625 bp | Aug 26, 2028 |
| Denali Intermediate Holdings, Inc. Business Services | term loan first lien | $6.3M | $5.8M 93c | SOFR+550 bp | Aug 26, 2032 |
| Mission Critical Group, LLC Construction & Building | term loan first lien | $5.7M | $5.7M 100c | SOFR+525 bp | Oct 1, 2030 |
| Milestone Technologies, Inc. Business Services | term loan first lien | $5.8M | $5.6M 98c | SOFR+500 bp | Aug 22, 2031 |
| VTC Buyer Corp. Transportation: Cargo | term loan first lien | $5.4M | $5.4M 100c | SOFR+525 bp | Jul 15, 2031 |
| ONBE, Inc. Business Services | term loan first lien | $4.9M | $4.9M 100c | SOFR+525 bp | Jul 25, 2031 |
| Foundation Risk Partners, Corp. Insurance | delayed draw term loan first lien | $4.6M | $4.6M 100c | SOFR+475 bp | Oct 29, 2030 |
| Burgess Point Purchaser Corporation Automotive | term loan first lien | $4.9M | $4.5M 96c | SOFR+525 bp | Jul 25, 2029 |
| Wellful Inc. Consumer Goods: Non-durable | term loan first lien | $4.5M | $4.5M 100c | SOFR+500 bp | Apr 19, 2030 |
| RxB Holdings, Inc. Healthcare & Pharmaceuticals | term loan first lien | $4.5M | $4.5M 102c | SOFR+500 bp | Dec 23, 2030 |
| Renaissance Holding Corp. Business Services | term loan first lien | $5.5M | $4.4M 86c | SOFR+400 bp | Apr 5, 2030 |
| Connect America.com, LLC Consumer Goods: Non-durable | term loan first lien | $5.1M | $4.3M 84c | SOFR+275 bp PIK 4.00% | Oct 11, 2029 |
| RealTruck Group, Inc. Automotive | term loan first lien | $6.8M | $4.3M 113c | SOFR+600 bp | Jan 29, 2031 |
| The Ultimus Group Midco, LLC Business Services | term loan first lien | $4.3M | $4.2M 98c | SOFR+450 bp | Jul 1, 2032 |
| Foundation Risk Partners, Corp. Insurance | term loan first lien | $3.9M | $3.9M 101c | SOFR+475 bp | Oct 29, 2030 |
| OID-OL Intermediate I, LLC High Tech Industries | term loan first lien | $4.0M | $3.9M 95c | SOFR+600 bp | Feb 1, 2029 |
| Flexera Software LLC High Tech Industries | term loan first lien | $3.8M | $3.5M 92c | SOFR+450 bp | Aug 16, 2032 |
| Wash & Wax Systems LLC Consumer Services | term loan first lien | $3.5M | $3.4M 97c | SOFR+550 bp | Apr 30, 2028 |
| Amplity Parent, Inc. Healthcare & Pharmaceuticals | term loan first lien | $6.1M | $3.3M 75c | SOFR+650 bp PIK 10.33% | Mar 31, 2029 |
| DexKo Global Inc. Automotive | term loan first lien | $3.2M | $3.1M 100c | SOFR+450 bp | Oct 4, 2031 |
| VTC Buyer Corp. Transportation: Cargo | revolver first lien | $2.8M | $2.7M 100c | SOFR+525 bp | Jul 15, 2031 |
| Paradigm Parent, LLC Healthcare & Pharmaceuticals | term loan first lien | $3.0M | $2.6M 95c | SOFR+450 bp | Apr 16, 2032 |
| Wash & Wax Holdings LLC Consumer Services | term loan first lien | $2.5M | $2.4M 95c | 12.00% PIK 12.00% | Jul 30, 2028 |
| Oil & Gas FR BR Holdings, L.L.C. | term loan first lien | $2.3M | $2.3M 100c | SOFR+425 bp | Oct 9, 2030 |
| FINThrive Software Intermediate Holdings, Inc. High Tech Industries | term loan first lien | $3.9M | $2.0M 52c | SOFR+400 bp | Dec 15, 2028 |
| Summit Behavioral Healthcare, LLC Healthcare & Pharmaceuticals | term loan first lien | $2.0M | $2.0M 102c | SOFR+575 bp | Dec 31, 2029 |
| OneZero Financial Systems, LLC Financial Services | term loan first lien | $1.9M | $1.9M 100c | SOFR+475 bp | Oct 7, 2031 |
| Cornerstone OnDemand, Inc. High Tech Industries | term loan first lien | $2.9M | $1.9M 66c | SOFR+375 bp | Oct 16, 2028 |
| Planview Parent, Inc. High Tech Industries | term loan first lien | $1.9M | $1.6M 87c | SOFR+350 bp | Dec 17, 2027 |
| Milestone Technologies, Inc. (Maverick Acquisition Holdings, LP) Business Services | equity equity | n/a | $1.4M 95c | ||
| Valcour Packaging, LLC Containers, Packaging & Glass | term loan first lien | $1.2M | $1.2M 101c | SOFR+525 bp | Oct 4, 2028 |
| FINThrive Software Intermediate Holdings, Inc. High Tech Industries | term loan lien unstated | $2.0M | $1.0M 51c | SOFR+525 bp | Dec 15, 2028 |
| RealTruck Group, Inc. Automotive | term loan first lien | $939,665 | $963,321 103c | SOFR+575 bp | Jan 29, 2031 |
| Amplity Topco, LLC Preferred Healthcare & Pharmaceuticals | equity equity | n/a | $911,957 | ||
| Cornerstone Building Brands, Inc. Construction & Building | term loan first lien | $1.5M | $897,058 65c | SOFR+325 bp | Apr 12, 2028 |
| Flexera Software LLC High Tech Industries | term loan first lien | $804,817 | $741,237 93c | SOFR+450 bp | Aug 16, 2032 |
| Mascarene VTC Investment Holdings LLC Class A-1 Equity Transportation: Cargo | unstated lien unstated | n/a | $730,203 101c | ||
| VTC Buyer Corp. Transportation: Cargo | delayed draw term loan first lien | $736,689 | $720,342 99c | SOFR+525 bp | Jul 15, 2031 |
| Apryse Software Corp High Tech Industries | revolver first lien | $718,367 | $668,653 94c | SOFR+450 bp | Jun 26, 2032 |
| VTC Buyer Corp. Transportation: Cargo | revolver first lien | $586,207 | $571,897 101c | SOFR+525 bp | Jul 15, 2031 |
| S4T Holdings Corp. (Vistria ESS Holdings, LLC) Equity Units Sovereign & Public Finance | unstated lien unstated | n/a | $548,226 274c | ||
| Milestone Technologies, Inc. Business Services | revolver first lien | $336,207 | $318,944 95c | SOFR+500 bp | Aug 22, 2031 |
| Deerfield Dakota Holding, LLC Financial Services | revolver first lien | $275,000 | $260,000 97c | SOFR+525 bp | Sep 13, 2032 |
| Blue River PetCare, L.L.C. Healthcare & Pharmaceuticals | term loan first lien | $247,380 | $247,380 100c | SOFR+500 bp | Aug 1, 2029 |
| Specialty Pharma III Inc. Healthcare & Pharmaceuticals | revolver first lien | $142,857 | $142,857 104c | SOFR+475 bp | Dec 23, 2032 |
| Wash & Wax Systems LLC Consumer Services | revolver first lien | $143,966 | $138,114 96c | SOFR+550 bp | Apr 30, 2028 |
| OneZero Financial Systems, LLC Financial Services | delayed draw term loan first lien | $133,678 | $131,299 99c | SOFR+475 bp | Oct 7, 2031 |
| Denali Intermediate Holdings, Inc. Business Services | revolver first lien | $114,527 | $65,089 60c | SOFR+550 bp | Aug 26, 2032 |
| Blue River PetCare, L.L.C. Healthcare & Pharmaceuticals | revolver first lien | n/a | $-590 38c | SOFR+500 bp | Aug 1, 2029 |
| OneZero Financial Systems, LLC Financial Services | revolver first lien | n/a | $-1,707 94c | SOFR+500 bp | Oct 7, 2031 |
| Mission Critical Group, LLC Construction & Building | revolver first lien | n/a | $-3,199 106c | SOFR+525 bp | Oct 1, 2030 |
| Blue River PetCare, L.L.C. Healthcare & Pharmaceuticals | delayed draw term loan first lien | n/a | $-3,239 78c | SOFR+500 bp | Aug 1, 2029 |
| Jackson Paper Manufacturing Company Forest Products & Paper | revolver first lien | n/a | $-6,250 1065c | SOFR+625 bp | Aug 26, 2028 |
| Montana Buyer Inc. Business Services | revolver first lien | n/a | $-9,152 130c | //onexdirectlending.com/20260630#Federal Funds Rate+375 bp | Jul 22, 2028 |
| Mission Critical Group, LLC Construction & Building | delayed draw term loan first lien | n/a | $-9,214 212c | SOFR+525 bp | Oct 1, 2030 |
| Flexera Software LLC High Tech Industries | revolver first lien | n/a | $-17,033 | SOFR+450 bp | Aug 16, 2032 |
| Offen, Inc Transportation: Cargo | revolver first lien | n/a | $-17,667 195c | SOFR+500 bp | Jul 23, 2029 |
| The Ultimus Group Midco, LLC Business Services | revolver first lien | n/a | $-18,081 390c | SOFR+450 bp | Jul 1, 2032 |
| Milestone Technologies, Inc. Business Services | delayed draw term loan first lien | n/a | $-23,017 | SOFR+500 bp | Aug 22, 2031 |
| The Ultimus Group Midco, LLC Business Services | delayed draw term loan first lien | n/a | $-48,217 779c | SOFR+450 bp | Jul 1, 2032 |
| Blue River PetCare, L.L.C. | delayed draw term loan lien unstated | n/a | n/a | ||
| Connect America.com, LLC Consumer Goods: Non-durable | equity equity | n/a | n/a n/a | ||
| Offen, Inc | revolver lien unstated | n/a | n/a | ||
| Jackson Paper Manufacturing Company | revolver lien unstated | n/a | n/a | ||
| 1-Month | unstated lien unstated | n/a | n/a | ||
| Blue River PetCare, L.L.C. | revolver lien unstated | n/a | n/a | ||
| VTC Buyer Corp. | delayed draw term loan lien unstated | n/a | n/a | ||
| FFR | unstated lien unstated | n/a | n/a | ||
| Wash & Wax Systems LLC | revolver lien unstated | n/a | n/a | ||
| Milestone Technologies, Inc. | revolver lien unstated | n/a | n/a | ||
| Mission Critical Group, LLC | revolver lien unstated | n/a | n/a | ||
| VTC Buyer Corp. | revolver lien unstated | n/a | n/a | ||
| Mission Critical Group, LLC | delayed draw term loan lien unstated | n/a | n/a | ||
| Specialty Pharma III Inc. | revolver lien unstated | n/a | n/a | ||
| Deerfield Dakota Holding, LLC | revolver lien unstated | n/a | n/a | ||
| Milestone Technologies, Inc. | delayed draw term loan lien unstated | n/a | n/a | ||
| Wash & Wax Holdings LLC Consumer Services | equity equity | n/a | n/a n/a | ||
| 6-Month | unstated lien unstated | n/a | n/a | ||
| The Ultimus Group Midco, LLC | revolver lien unstated | n/a | n/a | ||
| OneZero Financial Systems, LLC | delayed draw term loan lien unstated | n/a | n/a | ||
| Denali Intermediate Holdings, Inc. | revolver lien unstated | n/a | n/a | ||
| Montana Buyer Inc. | revolver lien unstated | n/a | n/a | ||
| 3-Month | unstated lien unstated | n/a | n/a | ||
| Flexera Software LLC | revolver lien unstated | n/a | n/a | ||
| OneZero Financial Systems, LLC | revolver lien unstated | n/a | n/a | ||
| Apryse Software Corp. | revolver lien unstated | n/a | n/a | ||
| The Ultimus Group Midco, LLC | delayed draw term loan lien unstated | n/a | n/a |
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Registration
- Fiscal year end
- 1231reported
- Incorporated
- DEreported
- On the SEC BDC report
- 2021 to 2026reported
- Filings listed
- 19reported10-Q and 10-K since 2022
- Former names
- Onex Falcon Direct Lending BDC Fund; Onex Falcon BDC Fundreported
- Latest schedule
- 0001193125-26-339194reported