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G•••• C•••••• D••••• L•••••• C•••
A non-traded business development company, managed by G• A••••••• L••, holding $845M across 294 borrowers at Jun 30, 2026.
Composed from this BDC's filings and its latest schedule of investments.
As of · the latest schedule of investments read for this BDC
- Fair value
- $845M
- Borrowers
- 294
- Mark on cost
- 99.3¢
- First lien
- 97%
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
As of · the latest schedule of investments read for this BDC
What matters now
- $2.39Mon non-accrual, 8 borrowers
8 borrowers on non-accrual, $2.39M principal; the largest is F•• I••••••••• H•••••• L•• ($799K).
Q2 2026 · Loans that have stopped paying interest; they set the book's credit losses.
FactBDC schedules of investments, 30 Jun 2026For LPs and shareholders in these BDCs, co-lenders on the same namesOpen F•• I••••••••• H•••••• L•• → - $582Knewly on non-accrual
2 borrowers newly placed on non-accrual in Q2 2026, $582K principal: W••••••••• L•• ($546K), W••••• I•• ($36K).
Q2 2026 · The newest credit problems in the book.
- 23 below 80¢$3.73M principal
23 positions across 17 borrowers marked below 80¢ on cost, $3.73M principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026 - 146 → 157loans paying in kind
Loans paying in kind rose from 146 to 157 positions in the quarter to Jun 30, 2026.
Q2 2026 · Borrowers paying interest in more debt rather than cash is an early sign of strain.
Every headline figure, and the identifiersCIK 1868878 · file 814-01412ShowHide
Fair value
$845M
as of Jun 30, 2026
Principal held
$842M
debt pieces, the filer's figure
Cost
$852M
99c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
1,123
294 borrowers
First lien
97%
98% debt by fair value
Quarters on the tape
15
since Sep 30, 2022
Facilities held
387
51 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 | 294 | 99c | 157 | 517 bp |
| Mar 31, 2026 | $851M | 298 | 99c | 146 | 517 bp |
| Dec 31, 2025 | $852M | 293 | 101c | 142 | 520 bp |
| Sep 30, 2025 | $1.7B | 279 | 101c | 262 | 529 bp |
All 15 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $826M | 254 | 101c | 104 | 537 bp |
| Mar 31, 2025 | $774M | 240 | 101c | 90 | 550 bp |
| Dec 31, 2024 | $764M | 230 | 100c | 94 | 559 bp |
| Sep 30, 2024 | $690M | 217 | 101c | 99 | 570 bp |
| Jun 30, 2024 | $626M | 204 | 101c | 81 | 582 bp |
| Mar 31, 2024 | $536M | 185 | 100c | 69 | 601 bp |
| Dec 31, 2023 | $463M | 173 | 100c | 64 | 603 bp |
| Sep 30, 2023 | $320M | 151 | 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 |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- Placed on non-accrualJun 30, 2026
- Placed on non-accrualJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
Full timeline · 20 eventsShow fewer
- PIK interest increasedJun 30, 2026
- PIK interest appearsJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- PIK interest increasedJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest increasedJun 30, 2026
- PIK interest appearsJun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
Largest facilities held, with co-lenders
- P•• I••••••••• H•••••••• L•• first lien term loan22 BDCs hold it · matures Aug 1, 2030$18.5M 98c
- i••••• I•• first lien term loan27 BDCs hold it · matures Aug 31, 2028$14.6M 94c
- H••••• S•••••••• I•• first lien term loan18 BDCs hold it · matures Sep 19, 2030 · possible sponsor T•••• B••••$13.0M 98c
- C••••••• B••••• I•• first lien term loan22 BDCs hold it · matures Nov 30, 2030 · possible sponsor F•••••••• P•••••••$11.6M 99c
- Z••••••• I•• first lien term loan16 BDCs hold it · matures Nov 22, 2028$11.6M 98c
- C••••••• S••••• L•• first lien term loan5 BDCs hold it · matures Oct 1, 2029$11.1M 101c
- A••• S•••••• P•••••••• L•• first lien term loan26 BDCs hold it · matures Oct 24, 2030 · possible sponsor A••••• I••••••••$11.0M 101c
- N•••• G••••• H••••••• C••••••••• first lien term loan11 BDCs hold it · matures Oct 31, 2032$10.9M 99c
- G•• U••••••• P••••• C••••••••• first lien term loan10 BDCs hold it · matures Feb 1, 2033 · possible sponsor V•••••• C•••••• F••• M••••••••• L•••••$10.8M 101c
- P•••••• G••••• I•••••••• S•••••••• L•• first lien term loan14 BDCs hold it · matures Oct 31, 2028 · possible sponsor G• P•••••••$10.7M 99c
- N••••••• E•••••• W••• P••••• H•••••• L•• first lien term loan7 BDCs hold it · matures Jul 16, 2029$10.7M 100c
- P•• H•••••••• L•• first lien term loan2 BDCs hold it · matures May 1, 2029$10.2M 96c
Schedule of investments at Sep 30, 2023
509 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| F•••• T••••• I••• | term loan first lien | $41,000 | $38,000 95c | S+650 bp | Oct 1, 2028 |
| E•• T•••• H•••••••• L•• | term loan first lien | $60,000 | $37,000 63c | S+550 bp | Nov 1, 2027 |
| V••••••• I••• | term loan first lien | $42,000 | $36,000 86c | S+525 bp | Apr 1, 2028 |
| I• I••••••••• H•••••••• L•• | term loan first lien | $35,000 | $35,000 103c | S+600 bp | Sep 1, 2028 |
| Q• H•••••••• I••• | term loan first lien | $35,000 | $35,000 103c | S+625 bp | Dec 1, 2027 |
| H•••• U• L•• | preferred equity equity | Not disclosed | $34,000 113c | ||
| W••••• I••• | term loan first lien | $35,000 | $34,000 100c | S+675 bp | Jan 1, 2028 |
| C• G•••• H•••••••• L•• | equity equity | Not disclosed | $34,000 67c | ||
| B••••••• I••••••••• •• L••• | term loan first lien | $33,000 | $33,000 106c | S+650 bp | Oct 1, 2027 |
| G•• T••••••••• H•••••••• I•• | equity equity | Not disclosed | $33,000 127c | ||
| H•••• U• L•• | term loan first lien | $33,000 | $33,000 100c | S+1000 bp PIK 4.00% | Aug 1, 2026 |
| H• S•• H•••••••• I••• | equity equity | Not disclosed | $32,000 103c | ||
| H•••• U• L•• | term loan first lien | $32,000 | $32,000 100c | S+1000 bp PIK 4.00% | Aug 1, 2026 |
| E••••••••• I••• | preferred equity equity | Not disclosed | $32,000 100c | ||
| B•••••• | term loan first lien | $29,000 | $29,000 104c | S+625 bp | Aug 1, 2028 |
| S••••••• P•••••••• I••• I•• | term loan first lien | $29,000 | $29,000 104c | S+675 bp | Dec 1, 2028 |
| F•••••••• I••• | warrants equity | Not disclosed | $28,000 350c | ||
| V••••••• I••• | term loan first lien | $32,000 | $27,000 87c | S+525 bp | Apr 1, 2028 |
| D••••• M•••• 2• L•• | term loan first lien | $25,000 | $25,000 100c | S+650 bp | Dec 1, 2027 |
| L•••••••• F••• F•• P•••••••• L••• | equity equity | Not disclosed | $25,000 74c | ||
| E•• L•••• L•• | equity equity | Not disclosed | $25,000 76c | ||
| N•••••• C••••••••• | term loan first lien | $27,000 | $25,000 100c | S+500 bp | Jun 1, 2029 |
| C••••• M•••• 3• S••••••• | term loan first lien | $26,000 | $24,000 100c | S+575 bp | May 1, 2029 |
| F••••• S•••••••• G•••• L•• | term loan first lien | $45,000 | $24,000 59c | S+550 bp | Oct 1, 2028 |
| S••••• B••••• L•• | equity equity | Not disclosed | $24,000 69c | ||
| C•••• I••••••••• | equity equity | Not disclosed | $22,000 220c | ||
| D••••• M•••• 2• L•• | term loan first lien | $22,000 | $21,000 100c | S+650 bp | Dec 1, 2027 |
| C••••••• S••••• I••• | equity equity | Not disclosed | $21,000 124c | ||
| A•••••• T••••••••• H••••••• C•••• | term loan first lien | $21,000 | $21,000 100c | S+825 bp | Sep 1, 2024 |
| C•• C••••••••• H•••••••• I••• | term loan first lien | $21,000 | $21,000 100c | S+525 bp | Apr 1, 2028 |
| F•• I••••••••• H•••••• L•• | term loan first lien | $22,000 | $21,000 100c | S+600 bp | Mar 1, 2027 |
| A•••• N••••••• I••• | preferred equity equity | Not disclosed | $20,000 118c | ||
| D••• H••••••• C•••• | term loan first lien | $20,000 | $20,000 100c | S+550 bp | Sep 1, 2028 |
| S••••• B••••• L•• | term loan first lien | $24,000 | $19,000 83c | S+425 bp | Sep 1, 2027 |
| F•••• T••••• I••• | term loan first lien | $19,000 | $18,000 100c | S+650 bp | Dec 1, 2024 |
| Z•••• H•••••• I••• | term loan first lien | $18,000 | $18,000 100c | S+650 bp | Jul 1, 2027 |
| D•••• A••••••••• C••••••••• | term loan first lien | $22,000 | $17,000 81c | S+450 bp | Oct 1, 2027 |
| E••••••• G••••• L•• | term loan first lien | $15,000 | $15,000 100c | S+550 bp | Apr 1, 2028 |
| R••••••••• H•••••••• L•• | term loan first lien | $15,000 | $15,000 100c | S+1075 bp | Oct 1, 2026 |
| D••• H••••••• C•••• | term loan first lien | $15,000 | $15,000 100c | S+550 bp | Sep 1, 2028 |
| F•••••••• I••• | warrants equity | Not disclosed | $15,000 100c | ||
| P•• P••••• I••• | preferred equity equity | Not disclosed | $14,000 117c | ||
| M••••••••• L•• | equity equity | Not disclosed | $14,000 52c | ||
| E•• V•••••• H•••••••• L•• | term loan first lien | $14,000 | $14,000 108c | S+600 bp | Oct 1, 2028 |
| K••••• I••• | term loan first lien | $15,000 | $13,000 100c | S+625 bp PIK 2.50% | Jun 1, 2029 |
| D••••• M•••• 2• L•• | term loan first lien | $13,000 | $13,000 108c | S+650 bp | Dec 1, 2027 |
| N•••••• C••••••••• | equity equity | Not disclosed | $13,000 163c | ||
| B••• H•••••• C••••••• I••• | term loan first lien | $22,000 | $13,000 68c | S+525 bp | Nov 1, 2027 |
| M••••••••• L•• | term loan first lien | $14,000 | $12,000 92c | S+475 bp | Dec 1, 2027 |
| V••••• M•••• H•••••••• L•• | term loan first lien | $12,000 | $12,000 100c | S+450 bp | Nov 1, 2026 |
| K••••••••• I••••••••• L•• | term loan first lien | $14,000 | $12,000 100c | S+625 bp | Sep 1, 2028 |
| H•••• U• L•• | warrants equity | Not disclosed | $11,000 157c | ||
| M••••••••• L•• | term loan first lien | $11,000 | $11,000 100c | S+500 bp | Nov 1, 2027 |
| C••••• B•••• S••• I••• | preferred equity equity | Not disclosed | $10,000 100c | ||
| F••••••• U••• I••• | term loan first lien | $11,000 | $10,000 100c | S+725 bp | Sep 1, 2029 |
| C••••• B•••• S••• I••• | term loan first lien | $12,000 | $10,000 91c | S+600 bp | Oct 1, 2027 |
| W••••••••• L•• | term loan first lien | $10,000 | $10,000 100c | S+575 bp | Oct 1, 2027 |
| C• •••••••• I••••••••• H•••••••• L•• | term loan first lien | $10,000 | $10,000 125c | S+525 bp | Oct 1, 2028 |
| Q••• I••• | equity equity | Not disclosed | $9,000 | ||
| C••••••••• P••••• I••• I••• | term loan first lien | $13,000 | $9,000 75c | S+450 bp | Aug 1, 2027 |
| C••••• M•••• 3• S••••••• | term loan first lien | $9,000 | $9,000 100c | S+575 bp | May 1, 2029 |
| P•••••• P••••••• L•• | term loan first lien | $8,000 | $8,000 100c | S+475 bp | Nov 1, 2027 |
| T••••••• A•• a•• T•••••••• L•• | warrants equity | Not disclosed | $8,000 73c | ||
| O•••• I••• | warrants equity | Not disclosed | $7,000 117c | ||
| D•••• | term loan first lien | $7,000 | $7,000 100c | S+575 bp | Jul 1, 2027 |
| C••••• S•••••••• A••••••••• I••• | term loan first lien | $9,000 | $7,000 88c | S+550 bp | May 1, 2028 |
| H• S•• H•••••••• I••• | term loan first lien | $8,000 | $7,000 100c | S+575 bp | Jun 1, 2028 |
| D••• H••••••• C•••• | term loan first lien | $6,000 | $6,000 120c | S+550 bp | Sep 1, 2028 |
| C••••••••• L•• | term loan first lien | $6,000 | $6,000 100c | S+600 bp | Aug 1, 2027 |
| D••••• M•••• 2• L•• | term loan first lien | $6,000 | $6,000 100c | S+650 bp | Dec 1, 2027 |
| N••••• I••• | term loan first lien | $6,000 | $6,000 100c | S+700 bp | Dec 1, 2023 |
| F••••• S•••••••• G•••• L•• | term loan first lien | $6,000 | $5,000 500c | S+550 bp | Oct 1, 2028 |
| V•• A••••••••• C•••• a•• S•••••••• I••• | term loan first lien | $6,000 | $4,000 80c | S+550 bp | Apr 1, 2028 |
| A••• B••••• I••• | term loan first lien | $4,000 | $4,000 100c | S+525 bp | Jul 1, 2027 |
| P••••• B•••• L•• | term loan first lien | $7,000 | $4,000 67c | S+575 bp | May 1, 2028 |
| P••••••• L•• | equity equity | Not disclosed | $4,000 100c | ||
| V•• A••••••••• C•••• a•• S•••••••• I••• | equity equity | Not disclosed | $3,000 60c | ||
| A•••• N••••••• I••• | preferred equity equity | Not disclosed | $2,000 100c | ||
| L•••••••• F••• F•• P•••••••• L••• | preferred equity equity | Not disclosed | $2,000 200c | ||
| C•••• I••••••••• | term loan first lien | $0 | $0 | S+525 bp | Oct 1, 2028 |
| P•• A••• B••••• I••• | term loan first lien | $0 | $0 0c | S+700 bp | Feb 1, 2029 |
| C••••••• B••••• I•• | term loan first lien | $0 | $0 0c | S+650 bp | Nov 1, 2028 |
| C•••••• R•••••••• M••••• L•• | term loan first lien | $0 | $0 0c | S+525 bp | Jul 1, 2028 |
| B•••••• R••••••••• L•• | term loan first lien | $0 | $0 0c | S+600 bp | Aug 1, 2028 |
| B••••••• T••••••• I••• | term loan first lien | $0 | $0 | S+525 bp | Jul 1, 2027 |
| P••••• H••••• I••••••••• H•••••••• I••• | term loan first lien | $0 | $0 0c | S+650 bp | Jun 1, 2029 |
| S••••••• B•••• O• | term loan first lien | $0 | $0 | S+575 bp | Jul 1, 2029 |
| V••••• M•••• H•••••••• L•• | term loan first lien | $0 | $0 | S+450 bp | Oct 1, 2026 |
| N•• A••••••••• C•••• a•• N•••• A••••••••• C•••• | term loan first lien | $0 | $0 | S+525 bp | Nov 1, 2028 |
| S••••••• B•••••• L•• | term loan first lien | $0 | $0 | S+650 bp | Jul 1, 2028 |
| W••••••••• P•• B•••••• L•• | term loan first lien | $0 | $0 0c | S+475 bp | Jul 1, 2027 |
| R•••••• P•••••• L•• | term loan first lien | $0 | $0 0c | S+653 bp | Mar 1, 2029 |
| D• F••••• H•••••••• L••• | term loan first lien | $0 | $0 0c | S+625 bp | Sep 1, 2028 |
| P•• H•••••••• L•• | term loan first lien | $0 | $0 0c | S+550 bp | Nov 1, 2027 |
| F•••••••• I••• | term loan first lien | $0 | $0 | S+650 bp | Apr 1, 2027 |
| P•• H•••••••• L•• | term loan first lien | $0 | $0 0c | S+550 bp | Nov 1, 2027 |
| P••••• B•••• L•• | term loan first lien | $0 | $0 0c | S+575 bp | May 1, 2029 |
| T••••••• A•• a•• T•••••••• L•• | term loan first lien | $0 | $0 0c | S+600 bp | Jul 1, 2028 |
| W••••• B•••• L•••••• | term loan first lien | $0 | $0 0c | S+650 bp | Mar 1, 2029 |
| U•••••••• L•••• L•• | term loan first lien | $0 | $0 | S+550 bp | Aug 1, 2027 |
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
- G•••• C•••••• D••••• L•••••• LLCreported
- Latest schedule
- 0001868878-26-000031reported