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
T Series BDC LLC
Fair value
$2.2B
as of Jun 30, 2026
Principal held
$2.3B
debt pieces, the filer's figure
Cost
$2.3B
97c on cost
Unfunded
$297M
commitments not yet drawn
Positions
833
274 borrowers
First lien
98%
99% debt by fair value
Quarters on the tape
15
since Dec 31, 2022
Facilities held
519
34 sponsors financed
Portfolio through time
Fair value by quarter end$2.2B as of Jun 30, 2026
Dec 31, 2022$1.2B then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $2.2B | 274 | 98c | 54 | 502 bp |
| Mar 31, 2026 | $2.2B | 267 | 98c | 45 | 503 bp |
| Dec 31, 2025 | $2.2B | 267 | 98c | 37 | 506 bp |
| Sep 30, 2025 | $2.1B | 248 | 98c | 41 | 518 bp |
| Jun 30, 2025 | $2.1B | 193 | 99c | 41 | 527 bp |
| Mar 31, 2025 | $2.1B | 187 | 99c | 40 | 535 bp |
| Dec 31, 2024 | $4.1B | 238 | 99c | 59 | 536 bp |
| Sep 30, 2024 | $2.1B | 173 | 99c | 33 | 554 bp |
| Jun 30, 2024 | $2.0B | 159 | 99c | 30 | 572 bp |
| Mar 31, 2024 | $1.7B | 142 | 99c | 21 | 595 bp |
| Dec 31, 2023 | $1.7B | 132 | 99c | 21 | 604 bp |
| Sep 30, 2023 | $1.5B | 124 | 99c | 12 | 608 bp |
| Jun 30, 2023 | $1.4B | 117 | 98c | 7 | 604 bp |
| Mar 31, 2023 | $1.3B | 115 | 98c | 5 | 589 bp |
| Dec 31, 2022 | $1.2B | 107 | 98c | 4 | 587 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 borrower on a BDC scheduleJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- PIK interest appearsJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- PIK interest appearsJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
Largest facilities held, with co-lenders
- VRC Companies, LLC first lien term loan15 BDCs hold it · matures Jun 29, 2029 · Windjammer Capital Investors$34.5M 100c
- Distributors PT Intermediate Holdings III, LLC first lien term loan3 BDCs hold it · matures Apr 9, 2030$32.4M 101c
- World Insurance Associates, LLC first lien term loan23 BDCs hold it · matures Apr 30, 2030 · Charlesbank Capital Partners, LLC$30.8M 100c
- Integrity Marketing Acquisition, LLC first lien term loan44 BDCs hold it · matures Aug 31, 2028 · Silver Lake Technology Management, LLC$29.2M 100c
- Pareto Health Intermediate Holdings, Inc first lien term loan15 BDCs hold it · matures Jun 3, 2030$29.1M 100c
- Catalis Intermediate, Inc first lien term loan10 BDCs hold it · matures Aug 4, 2027$28.2M 100c
- BP Purchaser, LLC first lien term loan4 BDCs hold it · matures Dec 11, 2028$28.1M 75c
- Apex Service Partners, LLC first lien term loan35 BDCs hold it · matures Oct 24, 2030 · Alpine Investors$27.9M 101c
- Zarya Holdco, Inc first lien term loan12 BDCs hold it · matures Jul 1, 2027$27.8M 99c
- High Street Buyer, Inc first lien term loan14 BDCs hold it · matures Apr 14, 2028 · Abry Partners II, LLC$27.4M 100c
- Chemicals Tank Holding Corp first lien term loan5 BDCs hold it · matures Mar 31, 2028$27.4M 96c
- FLS Holding, Inc first lien term loan4 BDCs hold it · matures Dec 15, 2028$27.1M 86c
Schedule of investments at Jun 30, 2026
833 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| Cyber US Bidco, LLC IT Services | term loan first lien | $8.1M | $7.9M 99c | SOFR+500 bp | Dec 30, 2032 |
| Thrive Buyer, Inc. (Thrive Networks) IT Services | term loan first lien | $8.3M | $7.9M 96c | SOFR+500 bp PIK 2.50% | Feb 2, 2032 |
| Pharmaceuticals Caerus US 1, Inc. | term loan first lien | $7.8M | $7.7M 99c | SOFR+500 bp | May 25, 2029 |
| BCTO Bluebill Midco, Inc. Financial Services | term loan first lien | $7.8M | $7.7M 99c | SOFR+450 bp | Jul 30, 2032 |
| Software E-Discovery AcquireCo, LLC | term loan first lien | $7.9M | $7.6M 98c | SOFR+625 bp | Aug 29, 2029 |
| Cerity Partners, LLC Financial Services | term loan first lien | $7.6M | $7.6M 100c | SOFR+450 bp | Jul 28, 2031 |
| Dwyer Electronic Equipment, Instruments & Components | term loan first lien | $7.6M | $7.5M 100c | SOFR+475 bp | Jul 20, 2029 |
| CCI Buyer, Inc. Wireless Telecommunication Services | term loan first lien | $7.5M | $7.4M 100c | SOFR+500 bp | May 13, 2032 |
| Software Archduke Buyer, Inc. | term loan first lien | $7.6M | $7.4M 98c | SOFR+550 bp | Dec 3, 2032 |
| Pharmaceuticals Specialty Pharma III, Inc. | term loan first lien | $7.4M | $7.3M 99c | SOFR+475 bp | Dec 23, 2032 |
| Software Vanco Payment Solutions, LLC | term loan first lien | $7.4M | $7.3M 99c | SOFR+475 bp | Dec 1, 2031 |
| GC Waves Holdings, Inc. Financial Services | term loan first lien | $7.3M | $7.2M 100c | SOFR+450 bp | Oct 4, 2030 |
| KPSKY Acquisition, Inc. Construction & Engineering | term loan first lien | $7.8M | $7.2M 93c | SOFR+550 bp | Oct 19, 2028 |
| Chemicals V Global Holdings, LLC | term loan first lien | $7.8M | $7.1M 92c | SOFR+575 bp | Jan 2, 2029 |
| Stepping Stones Healthcare Services, LLC Health Care Providers & Services | term loan first lien | $7.2M | $7.1M 100c | SOFR+475 bp | Jan 5, 2033 |
| iCIMS, Inc. Health Care Providers & Services | term loan first lien | $7.3M | $7.0M 97c | SOFR+625 bp | Aug 18, 2028 |
| Applitools, Inc. Financial Services | term loan first lien | $8.4M | $6.9M 83c | 9.95% PIK 6.25% | May 25, 2029 |
| DCA TopCo, LP Health Care Providers & Services | equity equity | n/a | $6.9M 100c | ||
| Inszone Mid, LLC Insurance Services | term loan first lien | $6.8M | $6.7M 101c | SOFR+525 bp | Nov 30, 2029 |
| Automobiles COP Collisionright Parent, LLC | term loan first lien | $6.7M | $6.6M 100c | SOFR+475 bp | Jan 29, 2030 |
| Superman Holdings, LLC Construction & Engineering | term loan first lien | $6.6M | $6.5M 100c | SOFR+450 bp | Aug 29, 2031 |
| Machinery MHE Intermediate Holdings, LLC | term loan first lien | $6.3M | $6.3M 100c | SOFR+600 bp | Jul 21, 2027 |
| Software Rivet Bidco Limited | term loan first lien | $6.3M | $6.3M 100c | SOFR+450 bp | Apr 8, 2032 |
| GI DI Cornfield Acquisition, LLC IT Services | term loan first lien | $6.3M | $6.2M 100c | SOFR+450 bp | Mar 9, 2029 |
| Foundation Risk Partners Corp. Insurance Services | term loan first lien | $6.2M | $6.2M 102c | SOFR+475 bp | Oct 29, 2030 |
| Vardiman Black Holdings, LLC Health Care Providers & Services | term loan first lien | $10.6M | $6.1M 58c | 10.75% PIK 7.00% | Mar 18, 2027 |
| Distributors 48Forty Solutions, LLC | preferred equity equity | n/a | $6.1M 97c | ||
| Software Riskonnect Parent, LLC | term loan first lien | $6.1M | $6.1M 101c | SOFR+475 bp | Dec 7, 2028 |
| Software Banyan Software Holdings, LLC | term loan first lien | $6.2M | $6.0M 99c | SOFR+550 bp | Jan 2, 2031 |
| Imagine 360, LLC Health Care Providers & Services | term loan first lien | $6.0M | $6.0M 101c | SOFR+475 bp | Oct 2, 2028 |
| GTCR ABC Buyer, LLC Financial Services | term loan first lien | $6.0M | $5.9M 100c | SOFR+450 bp | Apr 14, 2033 |
| PPV Intermediate Holdings, LLC Health Care Providers & Services | term loan first lien | $6.0M | $5.9M 99c | SOFR+575 bp | Aug 31, 2029 |
| Software Fullsteam Operations, LLC | term loan first lien | $6.1M | $5.9M 98c | SOFR+525 bp | Aug 8, 2031 |
| FMG Suite Holdings, LLC Interactive Media & Services | term loan first lien | $5.9M | $5.8M 99c | SOFR+450 bp | Sep 9, 2032 |
| Heartland Veterinary Partners, LLC Health Care Providers & Services | term loan first lien | $5.8M | $5.8M 100c | SOFR+475 bp | Jun 12, 2028 |
| Software Project Leopard Holdings, Inc. | term loan first lien | $9.7M | $5.8M 62c | SOFR+525 bp | Jul 20, 2029 |
| eShipping, LLC Ground Transportation | term loan first lien | $5.7M | $5.6M 99c | SOFR+450 bp | Dec 23, 2032 |
| Software AuditBoard, Inc. | term loan first lien | $5.7M | $5.5M 98c | SOFR+500 bp | Jul 14, 2031 |
| Distributors Alpine Acquisition Corp. II | term loan first lien | $5.4M | $5.4M 100c | SOFR+525 bp | Jan 14, 2031 |
| Smarsh, Inc. Financial Services | term loan first lien | $5.6M | $5.4M 97c | SOFR+475 bp | Feb 16, 2029 |
| Software Emburse, Inc. | term loan first lien | $5.3M | $5.3M 100c | SOFR+425 bp | May 28, 2032 |
| Zenith Acquisitionco, LLC Aerospace & Defense | term loan first lien | $5.4M | $5.3M 99c | SOFR+450 bp | Jan 13, 2033 |
| Apex Service Partners, LLC Diversified Consumer Services | term loan first lien | $5.2M | $5.2M 102c | SOFR+500 bp | Oct 24, 2030 |
| DA Blocker Corp. Diversified Consumer Services | term loan first lien | $5.3M | $5.2M 99c | SOFR+475 bp | Feb 10, 2032 |
| Catalis Intermediate, Inc. IT Services | term loan first lien | $5.2M | $5.2M 100c | SOFR+525 bp | Aug 4, 2027 |
| Gateway US Holdings, Inc. Health Care Providers & Services | term loan first lien | $5.2M | $5.2M 100c | SOFR+475 bp | Sep 22, 2028 |
| Software Icefall Parent, Inc. | term loan first lien | $5.1M | $5.1M 101c | SOFR+450 bp | Jan 25, 2030 |
| Software Espresso Bidco, Inc. | term loan first lien | $5.2M | $5.1M 99c | SOFR+575 bp PIK 3.13% | Mar 25, 2032 |
| Software Oak Purchaser, Inc. | term loan first lien | $5.1M | $5.0M 99c | SOFR+550 bp | May 31, 2028 |
| Abracon Group Holdings, LLC Electronic Equipment, Instruments & Components | term loan first lien | $4.9M | $4.9M 100c | SOFR+550 bp | Jun 10, 2030 |
| Software Netwrix Corporation And Concept Searching, Inc. | term loan first lien | $5.0M | $4.9M 99c | SOFR+475 bp | Jun 11, 2029 |
| AA&D Midco, Inc. Aerospace & Defense | term loan first lien | $4.9M | $4.9M 100c | SOFR+475 bp | Nov 29, 2030 |
| Hercules Borrower, LLC Commercial Services & Supplies | term loan first lien | $4.9M | $4.9M 99c | SOFR+475 bp | Dec 15, 2028 |
| BPG Holdings IV Corp. Commercial Services & Supplies | term loan first lien | $8.9M | $4.8M 57c | SOFR+785 bp | Jul 30, 2029 |
| Software Riskonnect Parent, LLC | term loan first lien | $4.7M | $4.7M 101c | SOFR+475 bp | Dec 7, 2028 |
| Apollo Acquisition, Inc. IT Services | term loan first lien | $4.8M | $4.7M 99c | SOFR+525 bp | Dec 30, 2031 |
| Cliffwater, LLC Financial Services | term loan first lien | $4.5M | $4.5M 100c | SOFR+450 bp | Apr 22, 2032 |
| Triple Lift, Inc. Interactive Media & Services | term loan first lien | $4.5M | $4.3M 95c | SOFR+575 bp | May 5, 2028 |
| Patriot Growth Insurance Services, LLC Insurance Services | term loan first lien | $4.4M | $4.3M 98c | SOFR+500 bp | Oct 16, 2028 |
| Automobiles LeadVenture, Inc. | term loan first lien | $4.4M | $4.2M 99c | SOFR+500 bp | Jun 23, 2032 |
| Software Oak Purchaser, Inc. | term loan first lien | $4.3M | $4.2M 98c | SOFR+550 bp | May 31, 2028 |
| GPS Merger Sub, LLC Professional Services | term loan first lien | $4.2M | $4.2M 101c | SOFR+500 bp | Oct 2, 2029 |
| Machinery Chase Intermediate, LLC | term loan first lien | $4.3M | $4.2M 99c | SOFR+475 bp | Oct 30, 2028 |
| Accel International Holdings, Inc. Electrical Equipment | term loan first lien | $4.2M | $4.2M 100c | SOFR+425 bp | Apr 26, 2032 |
| FLS Holding, Inc. Commercial Services & Supplies | term loan first lien | $4.8M | $4.1M 86c | SOFR+575 bp PIK 0.50% | Dec 15, 2028 |
| Railpros Parent, LLC Commercial Services & Supplies | term loan first lien | $4.1M | $4.1M 101c | SOFR+425 bp | May 24, 2032 |
| Transit Technologies, LLC Commercial Services & Supplies | term loan first lien | $4.2M | $4.1M 98c | SOFR+500 bp | Aug 20, 2031 |
| EVDR Purchaser, Inc. Diversified Consumer Services | term loan first lien | $4.0M | $4.0M 101c | SOFR+450 bp | Feb 14, 2031 |
| Automobiles COP Collisionright Parent, LLC | term loan first lien | $4.0M | $4.0M 100c | SOFR+475 bp | Jan 29, 2030 |
| Invictus Buyer, LLC Health Care Providers & Services | term loan first lien | $4.0M | $4.0M 101c | SOFR+450 bp | Jun 3, 2031 |
| Randy's Holdings, Inc. Automobile Components | term loan first lien | $4.0M | $4.0M 100c | SOFR+500 bp | Nov 1, 2029 |
| Express Wash Acquisition Company, LLC Diversified Consumer Services | term loan first lien | $3.9M | $3.9M 100c | SOFR+625 bp | Apr 10, 2031 |
| GC Waves Holdings, Inc. Financial Services | term loan first lien | $3.8M | $3.8M 101c | SOFR+450 bp | Oct 4, 2030 |
| LHS Borrower, LLC Diversified Consumer Services | term loan first lien | $3.8M | $3.7M 99c | SOFR+525 bp | Sep 4, 2031 |
| Software Apryse Software Corp. | term loan first lien | $3.7M | $3.7M 101c | SOFR+450 bp | Jun 28, 2032 |
| Vessco Midco Holdings, LLC Multi-Utilities | term loan first lien | $3.7M | $3.7M 99c | SOFR+450 bp | Jul 24, 2031 |
| Software RSK Holdings, Inc. (Riskonnect) | preferred equity equity | n/a | $3.6M 103c | ||
| Jonathan Acquisition Company Aerospace & Defense | term loan first lien | $3.5M | $3.5M 100c | SOFR+450 bp | Nov 12, 2029 |
| CRCI Longhorn Holdings, Inc. Commercial Services & Supplies | term loan first lien | $3.5M | $3.5M 101c | SOFR+475 bp | Aug 27, 2031 |
| Consor Intermediate II, LLC Commercial Services & Supplies | term loan first lien | $3.5M | $3.5M 101c | SOFR+450 bp | May 12, 2031 |
| Inhabitiq, Inc. Real Estate Management & Development | term loan first lien | $3.4M | $3.4M 100c | SOFR+450 bp | Jan 12, 2032 |
| WIPFLI Advisory, LLC Professional Services | term loan first lien | $3.4M | $3.4M 99c | SOFR+425 bp | Oct 1, 2032 |
| Infinite Bidco, LLC Electronic Equipment, Instruments & Components | term loan second lien | $3.4M | $3.3M 107c | SOFR+700 bp | Mar 2, 2029 |
| Banks Computer Services, Inc. | term loan first lien | $3.2M | $3.2M 99c | SOFR+450 bp | Nov 17, 2031 |
| Vertex Service Partners, LLC Diversified Consumer Services | term loan first lien | $3.3M | $3.2M 98c | SOFR+600 bp PIK 2.53% | Nov 8, 2030 |
| Software Revalize, Inc. | preferred equity equity | n/a | $3.2M 81c | ||
| KWOR Acquisition, Inc. Professional Services | term loan second lien | $3.1M | $3.1M 100c | SOFR+625 bp PIK 5.25% | Feb 28, 2030 |
| Software Saturn Borrower, Inc. | term loan first lien | $3.2M | $3.1M 98c | SOFR+600 bp | Nov 10, 2028 |
| Continental Acquisition Holdings, Inc. Automobile Components | term loan first lien | $6.5M | $3.0M 47c | 10.88% PIK 7.00% | Jul 20, 2028 |
| Tidi Legacy Products, Inc. Health Care Equipment & Supplies | term loan first lien | $3.0M | $3.0M 101c | SOFR+450 bp | Dec 19, 2029 |
| PMA Parent Holdings, LLC Financial Services | term loan first lien | $3.0M | $3.0M 100c | SOFR+475 bp | Jan 31, 2031 |
| Iris Buyer, LLC Commercial Services & Supplies | term loan first lien | $3.0M | $3.0M 101c | SOFR+500 bp | Oct 2, 2030 |
| PDI TA Holdings, Inc. Consumer Staples Distribution & Retail | term loan first lien | $3.1M | $3.0M 96c | SOFR+600 bp PIK 2.50% | Feb 3, 2031 |
| Software Banyan Software Holdings, LLC | term loan first lien | $3.0M | $3.0M 100c | SOFR+550 bp | Jan 2, 2031 |
| Heartland Veterinary Partners, LLC Health Care Providers & Services | term loan second lien | $2.9M | $2.9M 101c | 14.50% | Sep 11, 2028 |
| Patriot Growth Insurance Services, LLC Insurance Services | term loan first lien | $3.0M | $2.9M 98c | SOFR+500 bp | Oct 16, 2028 |
| OEConnection, LLC Automobile Components | term loan first lien | $3.0M | $2.9M 98c | SOFR+450 bp | Dec 23, 2032 |
| Pharmaceuticals Real Chemistry Intermediate III, Inc. | term loan first lien | $2.9M | $2.9M 99c | SOFR+450 bp | Apr 12, 2032 |
| Any Hour, LLC Diversified Consumer Services | subordinated debt unsecured or subordinated | $3.5M | $2.9M 83c | 13.00% PIK 13.00% | May 23, 2031 |
| IQN Holding Corp. Professional Services | term loan first lien | $2.7M | $2.7M 101c | SOFR+525 bp | May 2, 2029 |
Registration
- Fiscal year end
- 1231reported
- Incorporated
- DEreported
- On the SEC BDC report
- 2022 to 2026reported
- Filings listed
- 19reported10-Q and 10-K since 2022
- Former names
- T Series Middle Market Loan Fund LLCreported
- Latest schedule
- 0001193125-26-344703reported