The names on this page are hidden. Create a free account to reveal 5 records a month, or get Private Credit Intelligence at $249 a month for every name. Every figure, date and source on this page is public either way.

P•••••• S••••• B•• L••

Business development companymanaged by G•••••• S•••• A•••• M••••••••• L••Non-traded· NEW YORK, NY

A non-traded business development company, managed by G•••••• S•••• A•••• M••••••••• L••, holding $994M across 99 borrowers at Jun 30, 2026.

Composed from this BDC's filings and its latest schedule of investments.

Fair value
$994M
Schedule of investments, 10-Q and 10-K
Borrowers
99
Schedule of investments, 10-Q and 10-K
Mark on cost
99.2¢
Schedule of investments, 10-Q and 10-K
First lien
99%
Schedule of investments, 10-Q and 10-K
Schedule of investments (291)Quarter by quarterSponsors
As of · the latest schedule of investments read for this BDC

What matters now

  1. 1 below 80¢
    $1.49M principal

    1 position across 1 borrower marked below 80¢ on cost, $1.49M principal.

    Q2 2026 · Marks this low usually come before non-accrual or a restructuring.

    Derivedeach position's fair value over cost, 30 Jun 2026
  2. 11 → 15
    loans paying in kind

    Loans paying in kind rose from 11 to 15 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.

    Factthe schedule's PIK rates, quarter on quarterQuarter by quarter →
  3. $735M → $994M
    fair value, 4 quarters

    Its portfolio grew 35% at fair value over the last four quarters.

    Q2 2026 · A fast-growing book is deploying new capital.

    Factthe schedule's fair value, a year apartQuarter by quarter →
Every headline figure, and the identifiersCIK 1948368 · file 814-01579Show
Fair value
$994M
as of Jun 30, 2026
Principal held
$1.2B
debt pieces, the filer's figure
Cost
$995M
99c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
291
99 borrowers
First lien
99%
99% debt by fair value
Quarters on the tape
15
since Dec 31, 2022
Facilities held
103
28 sponsors financed
Portfolio through time
Fair value by quarter end$994M as of Jun 30, 2026
Oct 5, 2022$0 then
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2026$994M9999c15506 bp
Mar 31, 2026$942M9999c11504 bp
Dec 31, 2025$942M99100c12507 bp
Sep 30, 2025$785M88100c7518 bp
All 16 quarters
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2025$735M80100c8541 bp
Mar 31, 2025$4.2B75100c11553 bp
Dec 31, 2024$3.7B69100c8565 bp
Sep 30, 2024$2.8B65100c7570 bp
Jun 30, 2024$2.1B48100c1608 bp
Mar 31, 2024$1.2B36101c3641 bp
Dec 31, 2023$1.1B33100c3657 bp
Sep 30, 2023$551M21100c7688 bp
Jun 30, 2023$98.1M12n/a0682 bp
Mar 31, 2023$67.1M5n/a0695 bp
Dec 31, 2022$530M5100c0707 bp
Oct 5, 2022$01n/a0n/a
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
Full timeline · 20 events
Every position change, including routine ones
Largest facilities held, with co-lenders
Schedule of investments at Mar 31, 2025
225 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
V•••• B••••• I••• ••• V•••
S•••••••
term loan first lien$6.1M-$30,000
100c
SOFR+475 bpJan 30, 2032
M••••••• B••••• I••• ••• M••••••••
M••••••••
term loan first lien$3.1M-$31,000
111c
SOFR+475 bpAug 20, 2030
R••••• B••••• L•• ••• R••••••
S•••••••)
term loan first lien$3.4M-$34,000
213c
SOFR+500 bpDec 17, 2031
B•••••• M••••• S••• L•• ••• O•••••
P••••••••)
term loan first lien$2.3M-$35,000
106c
SOFR+525 bpNov 1, 2030
F•••••••• O••••••••• L••
Financial Services
term loan first lien$2.6M-$38,000
211c
SOFR+825 bpNov 27, 2029
A•• D••• C••••••• L••
IT Services
term loan first lien$2.3M-$45,000
107c
SOFR+475 bpNov 27, 2030
R•••• D••• M••••• S••• L•• ••• N•••••••••
S•••••••
term loan first lien$4.6M-$46,000
219c
SOFR+525 bp
PIK 2.75%
Sep 1, 2031
U• S••••• C••••••• L••
IT Services
term loan first lien$4.7M-$47,000
112c
SOFR+550 bpSep 4, 2029
T• R••••••••• G•••• L••
H•••••, R••••••••• & L••••••
term loan first lien$1.3M-$51,000
319c
SOFR+725 bpJul 26, 2028
S••••••• E••••••••• S••••••••
C••••••••• Services & S•••••••
term loan first lien$2.6M-$83,000
461c
SOFR+650 bpAug 1, 2029
H••••••• T•••••• I•••
H••••• C••• E•••••••• & S•••••••
term loan first lien$5.8M-$101,000
184c
SOFR+550 bpNov 28, 2031
T• R••••••••• G•••• L••
H•••••, R••••••••• & L••••••
term loan first lien$3.0M-$120,000
400c
SOFR+725 bpJul 26, 2028
1• m•••• B••• M•••••unstated lien unstatedNot disclosedNot disclosed4.10%
6• M••••unstated lien unstatedNot disclosedNot disclosed4.19%
P•••• R••• M•••••unstated lien unstatedNot disclosedNot disclosed7.50%
D••• I••••••••• • 1•••••unstated lien unstatedNot disclosedNot disclosed
I••••••••• i• A••••••••• M•••• M••••• F••• • 3•••unstated lien unstatedNot disclosedNot disclosed
3• M••••unstated lien unstatedNot disclosedNot disclosed4.29%
1•• L••••••••• S•••••• D••• • 1•••••term loan first lienNot disclosedNot disclosed
I••••••••• i• A••••••••• M•••• M••••• F••• • 3••• U••••• S••unstated lien unstatedNot disclosedNot disclosed
1•• L••••••••• U••••••••• ••• • 9•••term loan first lienNot disclosedNot disclosed
6• M••••unstated lien unstatedNot disclosedNot disclosed2.34%
U••••• S••••• • 1•••••unstated lien unstatedNot disclosedNot disclosed
1• m••••unstated lien unstatedNot disclosedNot disclosed4.32%
I••••••••• i• A••••••••• M•••• M••••• F••• • 3••• G•••••• S•unstated lien unstatedNot disclosedNot disclosed
Page 3 of 3Previous
Registration
Fiscal year end
1231reported
Incorporated
DEreported
On the SEC BDC report
2024 to 2026reported
Filings listed
15reported10-Q and 10-K since 2022
Former names
P•••••• S••••• Middle Market Lending Fund LLCreported
Latest schedule
0001193125-26-344614reported