DFX Intelligence
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F•••• E•••• P•••••• C••••• F•••
Business development companymanaged by F•••• E•••• I••••••••• M••••••••• L••Non-traded· NEW YORK, NY
A non-traded business development company, managed by F•••• E•••• I••••••••• M••••••••• L••, holding $553M across 106 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
- $553M
- Borrowers
- 106
- Mark on cost
- 99.6¢
- First lien
- 100%
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
- 8 below 80¢$10.8M principal
8 positions across 5 borrowers marked below 80¢ on cost, $10.8M principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026 - 95 → 106borrowers
Added a net 11 borrowers in the quarter to Jun 30, 2026, to 106.
Q2 2026 · The book is turning over faster than usual.
Every headline figure, and the identifiersCIK 1890107 · file 814-01642ShowHide
Fair value
$553M
as of Jun 30, 2026
Principal held
$560M
debt pieces, the filer's figure
Cost
$555M
100c on cost, debt pieces
Unfunded
$137M
commitments not yet drawn
Positions
249
106 borrowers
First lien
100%
100% debt by fair value
Quarters on the tape
12
since Sep 30, 2023
Facilities held
184
12 sponsors financed
Portfolio through time
Fair value by quarter end$553M as of Jun 30, 2026
Sep 30, 2023$21.0M then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $553M | 106 | 100c | 4 | 501 bp |
| Mar 31, 2026 | $537M | 95 | 100c | 4 | 527 bp |
| Dec 31, 2025 | $567M | 108 | 100c | 6 | 519 bp |
| Sep 30, 2025 | $645M | 132 | 100c | 6 | 518 bp |
All 12 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $658M | 156 | 99c | 3 | 486 bp |
| Mar 31, 2025 | $2.5B | 156 | 99c | 0 | 476 bp |
| Dec 31, 2024 | $3.3B | 166 | 100c | 0 | 472 bp |
| Sep 30, 2024 | $2.0B | 119 | 100c | 0 | 499 bp |
| Jun 30, 2024 | $1.8B | 100 | 100c | 0 | 411 bp |
| Mar 31, 2024 | $794M | 47 | 100c | 0 | 561 bp |
| Dec 31, 2023 | $598M | 23 | 100c | 0 | 608 bp |
| Sep 30, 2023 | $21.0M | 6 | 100c | 0 | 663 bp |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
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
Full timeline · 20 eventsShow fewer
- 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 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
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
Largest facilities held, with co-lenders
- I••••• P•••••• C••• first lien term loan2 BDCs hold it · matures Mar 11, 2031$16.5M 99c
- S•••••••• F••• P••••••••• L•• first lien term loan2 BDCs hold it · matures Dec 31, 2029$16.2M 101c
- V••••• U•••••• B••••• L•• first lien term loan1 BDC hold it · matures Jul 24, 2031$15.0M 99c
- 8•• P••••••••• M•• L•• first lien term loan1 BDC hold it · matures Oct 9, 2027$13.8M 101c
- B•••••• S••• P•••••• L•• first lien term loan10 BDCs hold it · matures Aug 31, 2030$13.3M 101c
- S••••••••• I••••••••• I•• first lien term loan1 BDC hold it · matures Apr 1, 2030$12.3M 101c
- A•••••• L•• first lien term loan6 BDCs hold it · matures Sep 13, 2029$11.5M 101c
- A•••••••• B•••• I•• first lien term loan1 BDC hold it · matures Feb 14, 2031 · possible sponsor B•••• C•••••• A•••• M••••••••• L••$11.5M 100c
- S•••••• I••••••••• H•••••••• L•• first lien term loan1 BDC hold it · matures Sep 17, 2030$10.2M 96c
- E•••• P•••••••• L•• first lien term loan2 BDCs hold it · matures May 23, 2030$9.9M 101c
- H•••••• B•••••• H•••••••• I•• first lien term loan1 BDC hold it · matures Jul 11, 2029$9.8M 100c
- C• G••••• L•• first lien term loan5 BDCs hold it · matures Mar 27, 2030$9.7M 101c
Schedule of investments at Dec 31, 2024
582 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| S• L••••••••• L•• P••••••••• Services | revolver first lien | $312,000 | $309,000 103c | SOFR+625 bp | Oct 30, 2029 |
| A••••• C•••••• L•• Financial Services | delayed draw term loan first lien | $250,000 | $248,000 102c | SOFR+650 bp | Mar 1, 2029 |
| A••••• C•••••• L•• Financial Services | delayed draw term loan first lien | $250,000 | $248,000 102c | SOFR+650 bp | Mar 1, 2029 |
| C••• W•••• L•• P••••••••• Services | revolver first lien | $241,000 | $233,000 100c | SOFR+525 bp | Oct 1, 2029 |
| C••• W••••• L•• P••••••••• Services | revolver first lien | $241,000 | $233,000 100c | SOFR+525 bp | Oct 1, 2029 |
| A••••• C•••••• L•• Financial Services | revolver first lien | $200,000 | $199,000 102c | SOFR+650 bp | Mar 1, 2029 |
| A••••• C•••••• L•• Financial Services | revolver first lien | $200,000 | $199,000 102c | SOFR+650 bp | Mar 1, 2029 |
| A••• C•••• A••••••••• C• L•• D••••••••• C••••••• Services | delayed draw term loan first lien | $160,000 | $168,000 112c | SOFR+475 bp | Jun 15, 2028 |
| A••• C•••• A••••••••• C• L•• D••••••••• C••••••• Services | delayed draw term loan first lien | $160,000 | $168,000 112c | SOFR+475 bp | Jun 15, 2028 |
| A••••• C•••••• L•• Financial Services | delayed draw term loan first lien | $148,000 | $146,000 101c | SOFR+650 bp | Mar 1, 2029 |
| A••••• C•••••• L•• Financial Services | delayed draw term loan first lien | $148,000 | $146,000 101c | SOFR+650 bp | Mar 1, 2029 |
| R••••• Z•• I••• T••••••• A•••••• & L••••• G•••• | term loan first lien | $140,000 | $140,000 101c | SOFR+766 bp | Oct 13, 2026 |
| R••••• Z••• I••• T•••••••, A•••••• & L••••• G•••• | term loan first lien | $140,000 | $140,000 101c | SOFR+766 bp | Oct 13, 2026 |
| H••••••••• H••••••• H••••• C••• P•••••••• & Services | delayed draw term loan first lien | $97,000 | $97,000 109c | SOFR+550 bp | Dec 15, 2028 |
| H••••••••• H••••••• H••••• C••• P•••••••• & Services | delayed draw term loan first lien | $97,000 | $97,000 109c | SOFR+550 bp | Dec 15, 2028 |
| R• J••••• I••• C••••••••• & E••••••••• | revolver first lien | $108,000 | $81,000 88c | SOFR+600 bp | Dec 15, 2028 |
| R• J•••• I••• C••••••••• & E••••••••• | revolver first lien | $108,000 | $81,000 88c | SOFR+600 bp | Dec 15, 2028 |
| G••••••••• O••••••••• L•• B••••••• P••••••• | delayed draw term loan first lien | $74,000 | $77,000 101c | SOFR+300 bp | Mar 14, 2031 |
| G••••••••• O••••••••• L•• B••••••• P••••••• | delayed draw term loan first lien | $74,000 | $77,000 101c | SOFR+300 bp | Mar 14, 2031 |
| E•••••• H• P•••••• I••• H••••• C••• P•••••••• & Services | delayed draw term loan first lien | $52,000 | $52,000 106c | S+600 bp | Aug 20, 2029 |
| E•••••• H• P•••••• I••• H••••• C••• P•••••••• & Services | delayed draw term loan first lien | $52,000 | $52,000 106c | SOFR+600 bp | Aug 20, 2029 |
| E•••••• H• P••••• I••• H••••• C••• P•••••••• & Services | delayed draw term loan first lien | $52,000 | $52,000 106c | SOFR+600 bp | Aug 20, 2029 |
| M•••••• B••••••••• T••••••• L•• H••••• C••• P•••••••• & Services | revolver first lien | $56,000 | $47,000 115c | SOFR+500 bp | Jun 6, 2030 |
| M•••••• B••••••••• T•••••• L•• H••••• C••• P•••••••• & Services | revolver first lien | $56,000 | $47,000 115c | SOFR+500 bp | Jun 6, 2030 |
| W•••• R••••••• M••••••••• I••• C••••••••• Services & S••••••• | revolver first lien | $41,000 | $41,000 132c | SOFR+575 bp | Dec 28, 2029 |
| W•••• R••••••• M••••••••• I••• C••••••••• Services & S••••••• | revolver first lien | $41,000 | $41,000 132c | SOFR+575 bp | Dec 28, 2029 |
| I••••••••• • n••••••••• W•••••• | warrants equity | Not disclosed | $32,000 103c | ||
| X••• B•••••• I•• S•••••••• R••••• | warrants equity | $77,000 | $32,000 103c | ||
| X••• B•••••• I••• S•••••••• R••••• | warrants equity | Not disclosed | $32,000 103c | ||
| H••••••••• H••••••• H••••• C••• P•••••••• & Services | revolver first lien | $25,000 | $25,000 119c | SOFR+525 bp | Dec 15, 2028 |
| H••••••••• H••••••• H••••• C••• P•••••••• & Services | revolver first lien | $25,000 | $25,000 119c | SOFR+525 bp | Dec 15, 2028 |
| E•••••• H• P•••••• I••• H••••• C••• P•••••••• & Services | delayed draw term loan first lien | $23,000 | $23,000 100c | SOFR+600 bp | Aug 20, 2029 |
| E•••••• H• P••••• I••• H••••• C••• P•••••••• & Services | delayed draw term loan first lien | $23,000 | $23,000 100c | SOFR+600 bp | Aug 20, 2029 |
| C••••••••• C••••••••• A•••••••• & D•••••• | term loan first lien | $7,000 | $7,000 100c | SOFR+375 bp | Mar 27, 2031 |
| C••••••••• C••••••••• A•••••••• & D•••••• | term loan first lien | $7,000 | $7,000 100c | SOFR+375 bp | Mar 27, 2031 |
| F•••• F•••••••• P•••••••• L•• Financial Services | delayed draw term loan first lien | Not disclosed | $2,000 | SOFR+325 bp | Sep 15, 2031 |
| F•••• F•••••••• P••••••• L•• Financial Services | delayed draw term loan first lien | Not disclosed | $2,000 | SOFR+325 bp | Sep 15, 2031 |
| U• F•••••••• E••••••••• L•• H••••• C••• P•••••••• & Services | delayed draw term loan first lien | Not disclosed | $1,000 -100c | SOFR+450 bp | Oct 11, 2031 |
| U• F•••••••• E••••••••• L•• H••••• C••• P•••••••• & Services | delayed draw term loan first lien | Not disclosed | $1,000 -100c | SOFR+450 bp | Oct 11, 2031 |
| X•• P•••••••• L•• Financial Services | revolver first lien | Not disclosed | -$4,000 100c | SOFR+550 bp | Sep 13, 2028 |
| A•• C••••••••• S••••••••• I••• H•••••••• D••••••• | revolver first lien | Not disclosed | -$4,000 33c | SOFR+550 bp | Nov 19, 2029 |
| A•• C••••••••• S••••••••• I••• H•••••••• D••••••• | revolver first lien | Not disclosed | -$4,000 33c | SOFR+550 bp | Nov 19, 2029 |
| X•• P••••••• L•• Financial Services | revolver first lien | Not disclosed | -$4,000 100c | SOFR+550 bp | Sep 13, 2028 |
| A•••••• L•• S••••••• | revolver first lien | Not disclosed | -$7,000 100c | SOFR+575 bp | Sep 13, 2029 |
| A•• B•••• I••• Air F•••••• & L•••••••• | revolver first lien | Not disclosed | -$7,000 117c | SOFR+525 bp | Jul 23, 2030 |
| A••••••••• E••••••••• E•••••••• | delayed draw term loan first lien | Not disclosed | -$7,000 175c | SOFR+650 bp | May 10, 2029 |
| E••••• A••••••••• E••••••••• E•••••••• | delayed draw term loan first lien | Not disclosed | -$7,000 175c | SOFR+650 bp | May 10, 2029 |
| A•• B•••• I••• Air F•••••• & L•••••••• | revolver first lien | Not disclosed | -$7,000 117c | SOFR+525 bp | Jul 23, 2030 |
| A•••••• L•• S••••••• | revolver first lien | Not disclosed | -$7,000 100c | SOFR+575 bp | Sep 13, 2029 |
| P••••••••• I••• H••••• C••• E•••••••• & S••••••• | revolver first lien | Not disclosed | -$10,000 100c | SOFR+500 bp | Dec 30, 2030 |
| U•••••• P••••••• L•• P••••••••• Services | revolver first lien | Not disclosed | -$10,000 111c | SOFR+500 bp | Dec 23, 2027 |
| P••••••••• I••• H••••• C••• E•••••••• & S••••••• | revolver first lien | Not disclosed | -$10,000 100c | SOFR+500 bp | Dec 30, 2030 |
| U•••••• P••••••• L•• P••••••••• Services | revolver first lien | Not disclosed | -$10,000 111c | SOFR+500 bp | Dec 23, 2027 |
| 8•• P••••••••• M•• L•• Real Estate Management & D••••••••• | delayed draw term loan first lien | Not disclosed | -$11,000 367c | SOFR+650 bp | Oct 9, 2027 |
| 8•• P••••••••• M•• L•• Real Estate Management & D••••••••• | delayed draw term loan first lien | Not disclosed | -$11,000 367c | SOFR+650 bp | Oct 9, 2027 |
| S•••••• I••••••••• H•••••••• L•• P••••••••• | revolver first lien | Not disclosed | -$13,000 108c | SOFR+500 bp | Sep 17, 2030 |
| S•••••• I••••••••• H•••••••• L•• P••••••••• | revolver first lien | Not disclosed | -$13,000 108c | SOFR+500 bp | Sep 17, 2030 |
| M•••••••• M•••••• a•• F••••••••• C••••••••• M•••••••• | revolver first lien | Not disclosed | -$14,000 54c | SOFR+550 bp | Jun 21, 2029 |
| M•••••••• M•••••• a•• F••••••••• C••••••••• M•••••••• | revolver first lien | Not disclosed | -$14,000 54c | SOFR+550 bp | Jun 21, 2029 |
| G••• D••••• P••••••• O••• L•• H••••• C••• P•••••••• & Services | revolver first lien | Not disclosed | -$14,000 175c | SOFR+575 bp | May 13, 2030 |
| G••• D••••• P••••••• O•••• L•• H••••• C••• P•••••••• & Services | revolver first lien | Not disclosed | -$14,000 175c | SOFR+575 bp | May 13, 2030 |
| X••• B•••••• I••• S•••••••• R••••• | delayed draw term loan first lien | Not disclosed | -$15,000 100c | SOFR+850 bp | Dec 12, 2028 |
| A•• B•••• I••• Air F•••••• & L•••••••• | delayed draw term loan first lien | Not disclosed | -$15,000 107c | SOFR+525 bp | Jul 23, 2030 |
| A•• B•••• I••• Air F•••••• & L•••••••• | delayed draw term loan first lien | Not disclosed | -$15,000 107c | SOFR+525 bp | Jul 23, 2030 |
| X••• B••••• I••• S•••••••• R••••• | delayed draw term loan first lien | Not disclosed | -$15,000 100c | SOFR+850 bp | Dec 12, 2028 |
| S••••••• C••••• L•• P••••••••• Services | revolver first lien | Not disclosed | -$16,000 80c | SOFR+525 bp | Jun 28, 2030 |
| O•• V•••• L•• A••••••••• C••••••••• | revolver first lien | Not disclosed | -$16,000 100c | SOFR+525 bp | Dec 31, 2030 |
| S••••••• C•••• L•• P••••••••• Services | revolver first lien | Not disclosed | -$16,000 80c | SOFR+525 bp | Jun 28, 2030 |
| O•• V•••• L•• A••••••••• C••••••••• | revolver first lien | Not disclosed | -$16,000 100c | SOFR+525 bp | Dec 31, 2030 |
| T•• S•••••• L•• P••••••••• Services | revolver first lien | Not disclosed | -$18,000 113c | SOFR+550 bp | Jul 12, 2030 |
| T•• S•••••• L•• P••••••••• Services | revolver first lien | Not disclosed | -$18,000 113c | SOFR+550 bp | Jul 12, 2030 |
| X•• P•••••••• L•• Financial Services | delayed draw term loan first lien | Not disclosed | -$18,000 200c | SOFR+550 bp | Sep 13, 2028 |
| X•• P••••••• L•• Financial Services | delayed draw term loan first lien | Not disclosed | -$18,000 200c | SOFR+550 bp | Sep 13, 2028 |
| T•• M••••• G••••• L•• I•••••••• | revolver first lien | Not disclosed | -$19,000 119c | SOFR+550 bp | Jan 31, 2030 |
| S•••••••• B••••• L•• Financial Services | revolver first lien | Not disclosed | -$19,000 112c | SOFR+525 bp | Jul 1, 2030 |
| T•• M••••• G••••• L•• I•••••••• | revolver first lien | Not disclosed | -$19,000 119c | SOFR+550 bp | Jan 31, 2030 |
| S•••••••• B•••• L•• Financial Services | revolver first lien | Not disclosed | -$19,000 112c | SOFR+525 bp | Jul 1, 2030 |
| M•••••• H••••••• L•• D••••••••• C••••••• Services | revolver first lien | Not disclosed | -$20,000 182c | SOFR+575 bp | Nov 15, 2029 |
| M•••••• H•••••••• L•• D••••••••• C••••••• Services | revolver first lien | Not disclosed | -$20,000 182c | SOFR+575 bp | Nov 15, 2029 |
| I• V•••• S•••••••• L•• H••••• C••• P•••••••• & Services | revolver first lien | Not disclosed | -$20,000 286c | SOFR+600 bp | Feb 28, 2029 |
| I• V•••• S••••••• L•• H••••• C••• P•••••••• & Services | revolver first lien | Not disclosed | -$20,000 286c | SOFR+600 bp | Feb 28, 2029 |
| F•••• S•••• R••••••• A••••••••• L•• H••••• C••• P•••••••• & Services | delayed draw term loan first lien | Not disclosed | -$23,000 460c | SOFR+625 bp | Mar 29, 2030 |
| F•••• S•••• R••••••• A••••••••• L•• H••••• C••• P•••••••• & Services | delayed draw term loan first lien | Not disclosed | -$23,000 460c | SOFR+625 bp | Mar 29, 2030 |
| A•• A••••••••• H•••••••• L•• C••••••••• Services & S••••••• | revolver first lien | Not disclosed | -$26,000 108c | SOFR+550 bp | Jul 11, 2029 |
| A•• A••••••••• H••••••• L•• C••••••••• Services & S••••••• | revolver first lien | Not disclosed | -$26,000 108c | SOFR+550 bp | Jul 11, 2029 |
| S••••••• C••••• L•• P••••••••• Services | delayed draw term loan first lien | Not disclosed | -$33,000 330c | SOFR+525 bp | Jun 28, 2030 |
| S••••••• C••••• L•• P••••••••• Services | delayed draw term loan first lien | Not disclosed | -$33,000 330c | SOFR+525 bp | Jun 28, 2030 |
| T•• S•••••• L•• P••••••••• Services | delayed draw term loan first lien | Not disclosed | -$36,000 109c | SOFR+550 bp | Jul 12, 2030 |
| T•• S•••••• L•• P••••••••• Services | delayed draw term loan first lien | Not disclosed | -$36,000 109c | SOFR+550 bp | Jul 12, 2030 |
| P••••••••• I••• H••••• C••• E•••••••• & S••••••• | delayed draw term loan first lien | Not disclosed | -$40,000 308c | SOFR+500 bp | Dec 30, 2030 |
| P••••••••• I••• H••••• C••• E•••••••• & S••••••• | delayed draw term loan first lien | Not disclosed | -$40,000 308c | SOFR+500 bp | Dec 30, 2030 |
| A•••••• L•• S••••••• | delayed draw term loan first lien | Not disclosed | -$42,000 210c | SOFR+575 bp | Sep 13, 2029 |
| A••••• L•• S••••••• | delayed draw term loan first lien | Not disclosed | -$42,000 210c | SOFR+575 bp | Sep 13, 2029 |
| A•• A••••••••• H••••••• L•• C••••••••• Services & S••••••• | delayed draw term loan first lien | Not disclosed | -$52,000 325c | SOFR+550 bp | Jul 11, 2029 |
| A•• A••••••••• H•••••••• L•• C••••••••• Services & S••••••• | delayed draw term loan first lien | Not disclosed | -$52,000 325c | SOFR+550 bp | Jul 11, 2029 |
| G••• D••••• P••••••• O•••• L•• H••••• C••• P•••••••• & Services | delayed draw term loan first lien | Not disclosed | -$70,000 333c | SOFR+575 bp | May 13, 2030 |
| G••• D••••• P••••••• O•••• L•• H••••• C••• P•••••••• & Services | delayed draw term loan first lien | Not disclosed | -$70,000 333c | SOFR+575 bp | May 13, 2030 |
| E•••••• H• P•••••• I••• | revolver first lien | Not disclosed | Not disclosed | ||
| E•••••• H• P•••••• I••• H••••• C••• P•••••••• & Services | revolver first lien | Not disclosed | Not disclosed n/a | SOFR+600 bp | Aug 20, 2029 |
| V•••••• A••••••••• L•• H••••• C••• T••••••••• | revolver first lien | Not disclosed | Not disclosed n/a | SOFR+575 bp | Jan 31, 2030 |
Registration
- Fiscal year end
- 1231reported
- Incorporated
- DEreported
- On the SEC BDC report
- 2023 to 2026reported
- Filings listed
- 13reported10-Q and 10-K since 2022
- Latest schedule
- 0001193125-26-349367reported