DFX Intelligence
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B•••••••• P•••••• C••••• F•••
Business development companymanaged by B•••••••• C•••••• I••••••••• A•••••••• L••Non-traded· NEW YORK, NY
A non-traded business development company, managed by B•••••••• C•••••• I••••••••• A•••••••• L••, holding $2.5B across 295 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
- $2.5B
- Borrowers
- 295
- Mark on cost
- 98.5¢
- 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
- $3.42Mon non-accrual, 1 borrower
1 borrower on non-accrual, $3.42M principal; the largest is S••••••••• M•••• M•••• L•• ($3.42M).
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 S••••••••• M•••• M•••• L•• → - 16 below 80¢$21.3M principal
16 positions across 16 borrowers marked below 80¢ on cost, $21.3M principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026 - 287 → 295borrowers
Added a net 8 borrowers in the quarter to Jun 30, 2026, to 295.
Q2 2026 · The book is turning over faster than usual.
- $1.7B → $2.5Bfair value, 4 quarters
Its portfolio grew 44% at fair value over the last four quarters.
Q2 2026 · A fast-growing book is deploying new capital.
Every headline figure, and the identifiersCIK 1902649 · file 814-01485ShowHide
Fair value
$2.5B
as of Jun 30, 2026
Principal held
$2.6B
debt pieces, the filer's figure
Cost
$2.6B
98c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
480
295 borrowers
First lien
100%
100% debt by fair value
Quarters on the tape
15
since Dec 31, 2022
Facilities held
425
46 sponsors financed
Portfolio through time
Fair value by quarter end$2.5B as of Jun 30, 2026
Dec 31, 2022$1.1B then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $2.5B | 295 | 98c | 26 | 420 bp |
| Mar 31, 2026 | $2.4B | 287 | 98c | 26 | 422 bp |
| Dec 31, 2025 | $2.2B | 271 | 100c | 16 | 435 bp |
| Sep 30, 2025 | $2.1B | 259 | 100c | 22 | 441 bp |
All 15 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $1.7B | 257 | 100c | 21 | 453 bp |
| Mar 31, 2025 | $6.7B | 234 | 100c | 23 | 448 bp |
| Dec 31, 2024 | $5.2B | 200 | 101c | 31 | 473 bp |
| Sep 30, 2024 | $3.9B | 182 | 100c | 14 | 499 bp |
| Jun 30, 2024 | $2.5B | 148 | 100c | 13 | 544 bp |
| Mar 31, 2024 | $2.2B | 152 | 101c | 11 | 529 bp |
| Dec 31, 2023 | $2.1B | 148 | 100c | 12 | 530 bp |
| Sep 30, 2023 | $1.7B | 146 | 100c | 9 | 525 bp |
| Jun 30, 2023 | $1.3B | 138 | 100c | 8 | 494 bp |
| Mar 31, 2023 | $1.2B | 137 | 99c | 8 | 480 bp |
| Dec 31, 2022 | $1.1B | 131 | 98c | 6 | 457 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 borrower on a BDC scheduleJun 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
- 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
Largest facilities held, with co-lenders
- A•••• B•••• I••••••••• L•• first lien term loan6 BDCs hold it · matures Jan 31, 2033 · possible sponsor I••••••• C•••••• L••••••$52.0M 97c
- S••••••• H••••••• C••••••••• first lien term loan11 BDCs hold it · matures May 14, 2031$47.1M 100c
- A•• T••••••••• I•• first lien term loan3 BDCs hold it · matures Feb 13, 2032 · possible sponsor D••• C•••••• M••••••••• L••$46.3M 97c
- P•• P••••• H•••••••• L•• first lien term loan15 BDCs hold it · matures Jan 31, 2031$45.0M 99c
- M••••• T••••••••• I•• first lien term loan3 BDCs hold it · matures Apr 8, 2027$44.9M 100c
- S••••••• A••••••••• first lien term loan1 BDC hold it · matures Aug 13, 2031$44.3M 100c
- O••••••••• I•• first lien term loan3 BDCs hold it · matures Jun 11, 2029$43.6M 100c
- S••••••••• B•••• I•• first lien term loan2 BDCs hold it · matures Nov 5, 2032$43.1M 97c
- A••••• B•••••• S•••••• I••••••••• L•• first lien term loan7 BDCs hold it · matures Oct 31, 2030$41.5M 101c
- R•• B•••• I•• first lien term loan2 BDCs hold it · matures Jul 31, 2031$40.4M 104c
- m••••• M•••••• I•• first lien term loan10 BDCs hold it · matures Feb 25, 2033$39.9M 98c
- I•• H•••••• C••• first lien delayed draw term loan2 BDCs hold it · matures May 2, 2029$39.0M 99c
Schedule of investments at Sep 30, 2024
324 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| F••••• H•••••• C•••• ••••••••• D••••••••• C••••••• Services | revolver first lien | $0 | -$5,519 112c | S+625 bp | Sep 15, 2027 |
| G•• T••••••••• H••••••• I••• S••••••• | revolver first lien | $0 | -$7,383 205c | S+525 bp | Jul 9, 2029 |
| C••••• B•••••• A•••••••• L•• P••••••••• Services | revolver first lien | $0 | -$7,680 138c | S+525 bp | Jun 30, 2028 |
| F••••• R••• M••••••••• I••• S••••••• | revolver first lien | $0 | -$8,694 82c | S+350 bp PIK 3.75% | May 22, 2029 |
| B•••••• H••••••• L•• ••••••• S••••••• | revolver first lien | $0 | -$10,716 44c | S+725 bp | Sep 12, 2029 |
| H••••••• A••••••••• L•• ••••••••• P••••••••• Services | revolver first lien | $0 | -$12,245 113c | S+575 bp | Jan 16, 2030 |
| D•••••• H•••••••• I•• ••••••••• S••••••• | revolver first lien | $0 | -$12,640 -113c | S+575 bp | Aug 27, 2030 |
| I•••••••• M•••••••• A••••••••• L•• I•••••••• | revolver first lien | $0 | -$12,958 10c | S+500 bp | Aug 25, 2028 |
| L• A••••• H•••••••• L•• •••••••• C••••••••• & E••••••••• | delayed draw term loan first lien | $0 | -$16,096 145c | S+525 bp | Feb 1, 2030 |
| H••••••• A••••••••• L•• ••••••••• P••••••••• Services | delayed draw term loan first lien | $0 | -$20,408 113c | S+575 bp | Jan 16, 2030 |
| T•••• H••• I••••••••• L•• •••••••• C••••••••• & E••••••••• | revolver first lien | $0 | -$21,118 74c | S+600 bp | May 31, 2030 |
| C••••••• H••••••• C••• C••••••••• & E••••••••• | delayed draw term loan first lien | $0 | -$22,426 247c | S+475 bp | Jul 22, 2031 |
| I•••••••• M•••••••• A••••••••• L•• I•••••••• | delayed draw term loan first lien | $0 | -$25,162 79c | S+500 bp | Aug 25, 2028 |
| T•••• H••• I••••••••• L•• •••••••• C••••••••• & E••••••••• | delayed draw term loan first lien | $0 | -$25,341 148c | S+600 bp | May 31, 2030 |
| B•••••••• I••• P••••••••• Services | revolver first lien | $0 | -$26,594 1034c | S+500 bp | Oct 1, 2029 |
| H•••• I••••••••• I••• ••••••• ••••••• S••••••• | revolver first lien | $0 | -$28,086 100c | S+575 bp | Sep 26, 2030 |
| P••••••••• I•• C••••••••• & E••••••••• | revolver first lien | $0 | -$31,056 102c | S+525 bp | Aug 28, 2030 |
| D•••••• H•••••••• I•• ••••••••• S••••••• | delayed draw term loan first lien | $0 | -$31,601 -227c | S+575 bp | Aug 27, 2030 |
| D•••••• H•••••••• I•• ••••••••• S••••••• | delayed draw term loan first lien | $0 | -$34,761 -227c | S+575 bp | Aug 27, 2030 |
| V•••••• E••••••• S•••••••• I••• P••••••••• Services | delayed draw term loan first lien | $0 | -$35,428 | S+525 bp | Sep 19, 2031 |
| I•••••••• B••••• I••• IT Services | revolver first lien | $0 | -$39,734 122c | S+600 bp | Jun 3, 2030 |
| C•••••••• M••••• S•• D••• L•• •••• S••••••• Real Estate Management & D••••••••• | revolver first lien | $0 | -$41,323 117c | S+575 bp | Jan 18, 2030 |
| I•••••••• B••••• I••• IT Services | delayed draw term loan first lien | $0 | -$59,601 243c | S+600 bp | Jun 3, 2030 |
| I••••••• I••••••••• I•• L•• H••••••••• P•••••••• and Services | delayed draw term loan first lien | $0 | -$210,737 100c | S+500 bp | Apr 23, 2029 |
Page 4 of 4Previous
Registration
- Fiscal year end
- 1231reported
- Incorporated
- DEreported
- On the SEC BDC report
- 2022 to 2026reported
- Filings listed
- 17reported10-Q and 10-K since 2022
- Latest schedule
- 0001193125-26-338073reported