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

Golub Capital Direct Lending Corp

BDCnon-tradedCIK 1868878file 814-01412NEW YORK, NYmanaged by GC ADVISORS LLC

Fair value

$845M

as of Jun 30, 2026

Principal held

$842M

debt pieces, the filer's figure

Cost

$852M

99c on cost

Unfunded

n/a

commitments not yet drawn

Positions

1,123

295 borrowers

First lien

97%

98% debt by fair value

Quarters on the tape

since Sep 30, 2022

Facilities held

388

46 sponsors financed

Portfolio through time

Fair value by quarter end$845M as of Jun 30, 2026

Sep 30, 2022$202M then

Quarter	Fair value	Borrowers	On cost	PIK pos.	Avg spread
Jun 30, 2026	$845M	295	99c	157	525 bp
Mar 31, 2026	$851M	299	99c	146	526 bp
Dec 31, 2025	$852M	294	101c	142	529 bp
Sep 30, 2025	$1.7B	280	101c	262	536 bp
Jun 30, 2025	$826M	255	101c	104	537 bp
Mar 31, 2025	$774M	241	101c	90	550 bp
Dec 31, 2024	$764M	231	100c	94	559 bp
Sep 30, 2024	$690M	218	101c	99	577 bp
Jun 30, 2024	$626M	204	101c	81	583 bp
Mar 31, 2024	$536M	185	100c	69	601 bp
Dec 31, 2023	$463M	173	100c	64	604 bp
Sep 30, 2023	$320M	152	99c	52	604 bp
Jun 30, 2023	$275M	135	99c	41	607 bp
Mar 31, 2023	$261M	133	99c	35	599 bp
Sep 30, 2022	$202M	118	98c	13	577 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

Marked down (one lender)Jun 30, 2026
GOLUB CAPITAL DIRECT LENDING CORP: fair value markdown in Mario Purchaser, LLC (97 to 90 cents on cost)
Marked down (one lender)Jun 30, 2026
GOLUB CAPITAL DIRECT LENDING CORP: fair value markdown in WebPT, Inc (80 to 69 cents on cost)
Marked down (one lender)Jun 30, 2026
GOLUB CAPITAL DIRECT LENDING CORP: fair value markdown in Plasma Buyer LLC (66 to 53 cents on cost)
PIK interest increasedJun 30, 2026
GOLUB CAPITAL DIRECT LENDING CORP: pik increased in IQN Holding Corp (3.13% to 8.98%)
PIK interest appearsJun 30, 2026
GOLUB CAPITAL DIRECT LENDING CORP: pik added in RW AM Holdco LLC (0.00% to 8.91%)
Spread increasedJun 30, 2026
GOLUB CAPITAL DIRECT LENDING CORP: spread increased in Spark Bidco Limited (6.00% to 6.53%)
Spread increasedJun 30, 2026
GOLUB CAPITAL DIRECT LENDING CORP: spread increased in National Express Wash Parent Holdco, LLC (5.00% to 6.00%)
PIK interest increasedJun 30, 2026
GOLUB CAPITAL DIRECT LENDING CORP: pik increased in Covercraft Parent III, Inc (0.50% to 3.50%)
PIK interest appearsJun 30, 2026
GOLUB CAPITAL DIRECT LENDING CORP: pik added in National Express Wash Parent Holdco, LLC (0.00% to 3.25%)
PIK interest increasedJun 30, 2026
GOLUB CAPITAL DIRECT LENDING CORP: pik increased in Spark Bidco Limited (1.13% to 2.53%)
PIK interest appearsJun 30, 2026
GOLUB CAPITAL DIRECT LENDING CORP: pik added in Lacker Bidco Limited (0.00% to 2.50%)
Maturity extended (observed)Jun 30, 2026
GOLUB CAPITAL DIRECT LENDING CORP: maturity extended in Community Care Partners, LLC (2026-06-01 to 2026-09-01)
Maturity extended (observed)Jun 30, 2026
GOLUB CAPITAL DIRECT LENDING CORP: maturity extended in RW AM Holdco LLC (2028-04-01 to 2029-04-01)
Maturity extended (observed)Jun 30, 2026
GOLUB CAPITAL DIRECT LENDING CORP: maturity extended in Covercraft Parent III, Inc (2027-08-01 to 2029-08-01)
Maturity extended (observed)Jun 30, 2026
GOLUB CAPITAL DIRECT LENDING CORP: maturity extended in Unchained Labs, LLC (2027-08-01 to 2029-08-01)
Maturity extended (observed)Jun 30, 2026
GOLUB CAPITAL DIRECT LENDING CORP: maturity extended in POY Holdings, LLC (2027-11-01 to 2029-05-01)
Maturity extended (observed)Jun 30, 2026
GOLUB CAPITAL DIRECT LENDING CORP: maturity extended in CG Group Holdings, LLC (2027-07-01 to 2030-01-01)
Maturity extended (observed)Jun 30, 2026
GOLUB CAPITAL DIRECT LENDING CORP: maturity extended in Radwell Parent, LLC (2029-03-01 to 2030-04-01)
Lender left a facilityMar 31, 2026
GOLUB CAPITAL DIRECT LENDING CORP no longer holds Celerion Buyer, Inc term loan after 2026-03-31; 4 BDC(s) still hold it
New lender joined a facilityMar 31, 2026
GOLUB CAPITAL DIRECT LENDING CORP joins MS Buyer, Inc term loan (first lien) held by 8 other BDCs

Every position change, including routine ones

Largest facilities held, with co-lenders

PPV Intermediate Holdings, LLC first lien term loan
24 BDCs hold it · matures Aug 1, 2030
$18.5M 98c
iCIMS, Inc first lien term loan
32 BDCs hold it · matures Aug 31, 2028
$14.6M 94c
Hyland Software, Inc first lien term loan
23 BDCs hold it · matures Sep 19, 2030 · Thoma Bravo
$13.0M 98c
Crewline Buyer, Inc first lien term loan
27 BDCs hold it · matures Nov 30, 2030 · Francisco Partners
$11.6M 99c
Zendesk, Inc first lien term loan
21 BDCs hold it · matures Nov 22, 2028
$11.6M 98c
Cavender Stores L.P first lien term loan
6 BDCs hold it · matures Oct 1, 2029
$11.1M 101c
Apex Service Partners, LLC first lien term loan
35 BDCs hold it · matures Oct 24, 2030 · Alpine Investors
$11.0M 101c
Navex Global Holdings Corporation first lien term loan
15 BDCs hold it · matures Oct 31, 2032
$10.9M 99c
GHX Ultimate Parent Corporation first lien term loan
13 BDCs hold it · matures Feb 1, 2033 · Veritas Capital Fund Management, L.L.C.
$10.8M 101c
Patriot Growth Insurance Services, LLC first lien term loan
16 BDCs hold it · matures Oct 31, 2028 · Summit Partners, L.P.
$10.7M 99c
National Express Wash Parent Holdco, LLC first lien term loan
8 BDCs hold it · matures Jul 1, 2029
$10.7M 100c
POY Holdings, LLC first lien term loan
3 BDCs hold it · matures May 1, 2029
$10.2M 96c

Schedule of investments at Jun 30, 2026

1,123 positions

Borrower	Instrument	Principal	Fair value	Rate	Maturity
PPV Intermediate Holdings, LLC	term loan first lien	$14.1M	$13.9M 99c	S+575 bp	Aug 1, 2029
ICIMS, Inc.	term loan first lien	$14.6M	$13.6M 94c	S+575 bp	Aug 1, 2028
Hyland Software, Inc.	term loan first lien	$13.0M	$12.7M 98c	S+475 bp	Sep 1, 2030
Crewline Buyer, Inc.	term loan first lien	$11.6M	$11.4M 99c	S+675 bp	Nov 1, 2030
Cavender Stores L.P.	term loan first lien	$11.1M	$11.1M 101c	S+450 bp	Oct 1, 2029
Navex Global Holdings Corporation	term loan first lien	$10.9M	$10.7M 100c	S+500 bp	Oct 1, 2032
National Express Wash Parent Holdco, LLC	term loan first lien	$10.6M	$10.5M 100c	S+600 bp PIK 3.25%	Jul 1, 2029
GHX Ultimate Parent Corporation	term loan first lien	$10.2M	$10.2M 101c	S+500 bp PIK 2.50%	Feb 1, 2033
Patriot Growth Insurance Services, LLC	term loan first lien	$9.9M	$9.8M 99c	S+500 bp	Oct 1, 2028
Virginia Green Acquisition, LLC	term loan first lien	$9.5M	$9.4M 100c	S+525 bp	Dec 1, 2030
NSG Buyer, Inc.	term loan first lien	$9.2M	$9.1M 101c	S+500 bp	Nov 1, 2029
Blackbird Purchaser, Inc.	term loan first lien	$9.2M	$9.1M 100c	S+575 bp	Dec 1, 2030
Zendesk, Inc.	term loan first lien	$9.3M	$9.1M 98c	S+500 bp	Nov 1, 2028
ReliaQuest Holdings, LLC	term loan first lien	$8.5M	$8.4M 100c	S+576 bp PIK 3.13%	Apr 1, 2031
Anaplan, Inc.	term loan first lien	$8.6M	$8.4M 98c	S+450 bp	Jun 1, 2029
Apex Service Partners, LLC	term loan first lien	$8.5M	$8.4M 101c	S+500 bp	Oct 1, 2030
Togetherwork Holdings, LLC	term loan first lien	$8.5M	$8.3M 98c	S+525 bp	May 1, 2031
Radwell Parent, LLC	term loan first lien	$8.3M	$8.2M 100c	S+475 bp	Apr 1, 2030
Pareto Health Intermediate Holdings, Inc.	term loan first lien	$8.1M	$8.0M 100c	S+500 bp	Jun 1, 2030
PPW Aero Buyer, Inc.	term loan first lien	$7.5M	$7.5M 101c	S+500 bp	Sep 1, 2031
Icefall Parent, Inc.	term loan first lien	$7.6M	$7.3M 98c	S+450 bp	Jan 1, 2030
Netsmart Technologies, Inc.	term loan first lien	$7.2M	$7.0M 98c	S+520 bp PIK 2.70%	Aug 1, 2031
Creek Parent, Inc.	term loan first lien	$7.1M	$7.0M 100c	S+500 bp	Dec 1, 2031
Blast Bidco, Inc.	term loan first lien	$6.9M	$6.9M 101c	S+600 bp	Oct 1, 2030
OEConnection, LLC	term loan first lien	$6.8M	$6.8M 101c	S+450 bp	Dec 1, 2032
Modernizing Medicine, Inc.	term loan first lien	$6.6M	$6.6M 101c	S+475 bp PIK 2.25%	Apr 1, 2032
Radiance Borrower, LLC	term loan first lien	$6.5M	$6.5M 101c	S+525 bp	Jun 1, 2031
Premise Health Holding Corp.	term loan first lien	$6.4M	$6.3M 100c	S+475 bp	Nov 1, 2032
CHA Vision Holdings, Inc.	term loan first lien	$6.2M	$6.2M 100c	S+500 bp	Jan 1, 2031
Crunch Holdings, LLC	term loan first lien	$6.1M	$6.1M 100c	S+450 bp	Sep 1, 2031
Yorkshire Parent, Inc.	term loan first lien	$6.1M	$6.0M 100c	S+450 bp	Dec 1, 2029
BestPass, Inc.	term loan first lien	$6.2M	$6.0M 98c	S+475 bp	Aug 1, 2031
Biscuit Parent, LLC	term loan first lien	$6.0M	$6.0M 101c	S+475 bp	Feb 1, 2031
MS Buyer, Inc.	term loan first lien	$6.0M	$5.9M 99c	S+525 bp	Jul 1, 2031
LogicMonitor, Inc.	term loan first lien	$5.6M	$5.5M 99c	S+550 bp	Nov 1, 2031
Tricentis Operations Holdings, Inc.	term loan first lien	$5.6M	$5.5M 98c	S+600 bp PIK 3.25%	Feb 1, 2032
MYOB Invest Co Pty Ltd	term loan first lien	$5.6M	$5.4M 105c	S+525 bp PIK 2.75%	Jun 1, 2030
Varicent Intermediate Holdings Corporation	term loan first lien	$5.7M	$5.4M 96c	S+600 bp PIK 3.25%	Aug 1, 2031
Captive Resources Midco, LLC	term loan first lien	$5.3M	$5.3M 101c	S+450 bp	Jul 1, 2029
Evergreen IX Borrower 2023, LLC	term loan first lien	$5.4M	$5.3M 100c	S+475 bp	Sep 1, 2030
Bloomerang, LLC	term loan first lien	$5.2M	$5.2M 100c	S+550 bp PIK 3.00%	Dec 1, 2029
QSR Acquisition Co.	term loan first lien	$5.3M	$5.2M 98c	S+425 bp	Jun 1, 2032
Denali Midco 2, LLC	term loan first lien	$5.1M	$5.1M 101c	S+550 bp	Dec 1, 2028
Bayshore Intermediate #2, L.P.	term loan first lien	$5.1M	$5.0M 99c	S+550 bp PIK 3.00%	Oct 1, 2028
POY Holdings, LLC	term loan first lien	$5.1M	$4.8M 96c	S+550 bp	May 1, 2029
WRE Holding Corp.	term loan first lien	$4.8M	$4.8M 99c	S+500 bp	Jul 1, 2031
Doxa Insurance Holdings, LLC	term loan first lien	$4.9M	$4.8M 99c	S+450 bp	Dec 1, 2030
Dwyer	term loan first lien	$4.7M	$4.7M 109c	S+500 bp	Jul 1, 2029
BlueMatrix Holdings, LLC	term loan first lien	$4.8M	$4.7M 99c	S+475 bp	Jan 1, 2031
Salon Lofts Group, LLC	term loan first lien	$4.6M	$4.6M 101c	S+575 bp	Aug 1, 2028
Doxa Insurance Holdings, LLC	term loan first lien	$4.6M	$4.5M 98c	S+450 bp	Dec 1, 2030
RJW Group Holdings, Inc.	term loan first lien	$4.4M	$4.3M 101c	S+500 bp	Nov 1, 2031
Crumbl Enterprises, LLC	term loan first lien	$4.3M	$4.3M 100c	S+450 bp	May 1, 2032
Integrity Marketing Acquisition, LLC	term loan first lien	$4.3M	$4.3M 100c	S+500 bp	Aug 1, 2028
LDS Intermediate Holdings, LLC	term loan first lien	$4.3M	$4.2M 100c	S+500 bp	Feb 1, 2032
Netwrix Corporation	term loan first lien	$4.3M	$4.2M 98c	S+475 bp	Jun 1, 2029
Project Nike Purchaser, LLC	term loan first lien	$4.3M	$4.2M 97c	S+500 bp	Apr 1, 2029
Gurobi Optimization, LLC	term loan first lien	$4.1M	$4.1M 101c	S+450 bp	Sep 1, 2031
Riskonnect Parent, LLC	term loan first lien	$4.1M	$4.0M 99c	S+475 bp	Dec 1, 2028
CVP Holdco, Inc.	term loan first lien	$4.0M	$4.0M 100c	S+475 bp	Jun 1, 2031
Einstein Parent, Inc.	term loan first lien	$4.0M	$3.9M 100c	S+525 bp	Jan 1, 2031
AAH TOPCO, LLC	term loan first lien	$3.9M	$3.9M 100c	S+525 bp	Dec 1, 2027
Denali Midco 2, LLC	term loan second lien	$4.0M	$3.9M 99c	PIK 13.00%	Dec 1, 2029
Chase Intermediate	term loan first lien	$4.0M	$3.9M 98c	S+475 bp	Oct 1, 2028
COP Hometown Acquisitions, Inc.	term loan first lien	$3.9M	$3.8M 100c	S+525 bp	Jul 1, 2027
BHG Holdings, LLC	term loan first lien	$3.9M	$3.8M 100c	S+550 bp	Apr 1, 2032
PetVet Care Centers LLC	term loan first lien	$4.4M	$3.8M 89c	S+600 bp	Nov 1, 2030
HP TLE Buyer, Inc.	term loan first lien	$3.8M	$3.8M 100c	S+475 bp	Jul 1, 2032
BECO Holding Company, Inc.	term loan first lien	$3.8M	$3.8M 100c	S+525 bp	Nov 1, 2028
Gimlet Bidco GMBH	term loan first lien	$3.7M	$3.7M 108c	S+500 bp	Apr 1, 2031
QAD, Inc.	term loan first lien	$3.8M	$3.7M 98c	S+475 bp	Nov 1, 2027
POY Holdings, LLC	term loan first lien	$3.9M	$3.7M 96c	S+550 bp	May 1, 2029
HuFriedy Group Acquisition, LLC	term loan first lien	$3.6M	$3.6M 100c	S+550 bp	Jun 1, 2031
Rainforest Bidco Limited	term loan first lien	$3.7M	$3.6M 101c	S+543 bp PIK 1.93%	Jul 1, 2029
Transform Bidco Limited	term loan first lien	$3.7M	$3.5M 98c	S+650 bp PIK 10.18%	Jan 1, 2031
Pineapple German Bidco GMBH	term loan first lien	$3.6M	$3.5M 103c	S+525 bp	Jan 1, 2031
PB Group Holdings, LLC	term loan first lien	$3.4M	$3.4M 100c	S+550 bp PIK 2.75%	Aug 1, 2030
Collision SP Subco, LLC	term loan first lien	$3.4M	$3.4M 101c	S+475 bp	Jan 1, 2030
Essential Services Holdings Corporation	term loan first lien	$3.4M	$3.3M 98c	S+576 bp PIK 2.88%	Jun 1, 2031
Riskonnect Parent, LLC	term loan first lien	$3.3M	$3.2M 99c	S+475 bp	Dec 1, 2028
PAS Parent Inc.	term loan first lien	$3.2M	$3.2M 102c	S+450 bp	Aug 1, 2032
Quant Buyer, Inc.	term loan first lien	$3.2M	$3.1M 98c	S+525 bp	Jun 1, 2029
Severin Acquisition, LLC	term loan first lien	$3.2M	$3.1M 98c	S+500 bp PIK 2.25%	Oct 1, 2031
Oakbridge Insurance Agency, LLC	term loan first lien	$3.1M	$3.1M 100c	S+475 bp	Nov 1, 2029
Viper Bidco, Inc.	term loan first lien	$3.1M	$3.1M 99c	S+450 bp	Nov 1, 2031
Denali Bidco Limited	term loan first lien	$3.1M	$3.0M 106c	S+475 bp	Sep 1, 2031
Coupa Holdings, LLC	term loan first lien	$3.0M	$3.0M 101c	S+525 bp	Feb 1, 2030
PPV Intermediate Holdings, LLC	term loan first lien	$3.1M	$3.0M 96c	PIK 13.75%	Aug 1, 2030
COP Hometown Acquisitions, Inc.	term loan first lien	$2.9M	$2.9M 100c	S+525 bp	Jul 1, 2027
YE Brands Holding, LLC	term loan first lien	$2.9M	$2.9M 100c	S+475 bp	Oct 1, 2027
YI, LLC	term loan first lien	$2.9M	$2.8M 100c	S+575 bp	Dec 1, 2029
Lacker Bidco Limited	term loan first lien	$2.8M	$2.8M 101c	S+600 bp PIK 2.50%	Feb 1, 2031
NBG Acquisition Corp.	term loan first lien	$3.3M	$2.7M 84c	S+600 bp PIK 3.50%	Nov 1, 2030
Financial Information Technologies, LLC	term loan first lien	$2.8M	$2.7M 100c	S+475 bp	Jun 1, 2030
Vantage Bidco GMBH	term loan first lien	$2.7M	$2.6M 104c	S+625 bp	Apr 1, 2031
Any Hour, LLC	term loan first lien	$2.8M	$2.6M 95c	S+575 bp PIK 3.25%	May 1, 2030
CAP-KSI Holdings, LLC	term loan first lien	$2.6M	$2.6M 98c	S+525 bp	Jun 1, 2030
Benefit Plan Administrators of Eau Claire, LLC	term loan first lien	$2.6M	$2.6M 100c	S+475 bp	Nov 1, 2030
COP Hometown Acquisitions, Inc.	term loan first lien	$2.6M	$2.6M 100c	S+525 bp	Jul 1, 2027
bswift, LLC	term loan first lien	$2.6M	$2.5M 99c	S+475 bp	Nov 1, 2028

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Registration

Fiscal year end: 0930reported
Incorporated: MDreported
On the SEC BDC report: 2021 to 2026reported
Filings listed: 19reported10-Q and 10-K since 2022
Former names: Golub Capital Direct Lending LLCreported
Latest schedule: 0001868878-26-000031reported