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.
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M••••• A••••• I••••••••• P•••••• L••••••
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $935M | 218 | 97c | 11 | 504 bp |
| Mar 31, 2026 | $934M | 205 | 97c | 10 | 501 bp |
| Dec 31, 2025 | $978M | 198 | 98c | 14 | 500 bp |
| Sep 30, 2025 | $907M | 174 | 99c | 11 | 515 bp |
| Jun 30, 2025 | $929M | 162 | 98c | 14 | 517 bp |
| Mar 31, 2025 | $3.1B | 161 | 98c | 8 | 532 bp |
| Dec 31, 2024 | $3.6B | 141 | 99c | 11 | 543 bp |
| Sep 30, 2024 | $2.0B | 131 | 99c | 0 | 564 bp |
| Jun 30, 2024 | $1.6B | 107 | 100c | 0 | 586 bp |
| Dec 31, 2023 | $2.4B | 100 | 100c | 0 | 603 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.
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.
- New borrower on a BDC scheduleJun 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 borrower on a BDC scheduleJun 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
- 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
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- S••••••• P••••• S•••••• B•••• L•• first lien term loan2 BDCs hold it · matures Sep 24, 2031$10.3M 99c
- A••••••• R••••••••• H•••••••• L•• first lien term loan3 BDCs hold it · matures Jul 24, 2030$10.2M 82c
- M••••••• E•••••••• M••••••• E••••••••• L•• first lien term loan1 BDC hold it · matures Jan 7, 2028$10.0M 100c
- C••• C•• W••• O••••••••• L•• first lien delayed draw term loan3 BDCs hold it · matures Jun 16, 2027$10.0M 100c
- R•••• C••••••••• first lien term loan2 BDCs hold it · matures Jun 24, 2029$10.0M 100c
- E•••••• C••••••••• first lien term loan2 BDCs hold it · matures Jun 24, 2027$10.0M 100c
- P•• P••••• P•• M••••• T•••• L•• first lien term loan2 BDCs hold it · matures Feb 13, 2032$9.8M 98c
- E••••• H••••• L•• first lien term loan3 BDCs hold it · matures Aug 6, 2029$9.8M 100c
- T••••••• H••••• C••• P••••••• I•• first lien term loan2 BDCs hold it · matures Aug 6, 2031 · N•• W•••• C••••••• L•••$9.8M 99c
- C••• C••••••• L•• first lien term loan2 BDCs hold it · matures Jun 14, 2029$9.7M 100c
- A••••••••• L•• first lien term loan11 BDCs hold it · matures Jan 2, 2031 · T•••• C•••••• M••••••••• I•••$9.7M 100c
- V••••••••• B••••••• L•••••• first lien term loan3 BDCs hold it · matures Aug 6, 2030$9.7M 100c
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| A••• P••••• L•• | equity equity | n/a | n/a | ||
| A••• B••••••• L•• | term loan lien unstated | n/a | n/a | ||
| L•••• B••••• L•• | unstated lien unstated | n/a | n/a | ||
| A••• P••••• L•• | equity equity | n/a | n/a | ||
| T•• M•••• L•• | unstated lien unstated | n/a | n/a | ||
| A•• P•••••••• I••••••••• L•• | unstated lien unstated | n/a | n/a | ||
| M•• P••••• C••••••••• H••••• C••• Technology | delayed draw term loan first lien | n/a | n/a n/a | SOFR+450 bp | Jun 9, 2032 |
| S••• H••••••• I•• C•••. | unstated lien unstated | n/a | n/a | ||
| R•••••• H•••••••• I••. | unstated lien unstated | n/a | n/a | ||
| W• O•• B••••• I••. | unstated lien unstated | n/a | n/a | ||
| M•••••• V••••• P••••••• M••••••••• L•• H••••• C••• Providers & Services | term loan first lien | $4.0M | n/a n/a | Jan 12, 2029 | |
| P••• U•••• H••••• L•• | unstated lien unstated | n/a | n/a | ||
| N•••••• B•••• | unstated lien unstated | n/a | n/a | ||
| M••••••• I••. (fka Ironhorse P••••••••, LLC) | unstated lien unstated | n/a | n/a | ||
| S••••••• R• A••••••••• L•• | unstated lien unstated | n/a | n/a | ||
| T• I••••••••• L•• | unstated lien unstated | n/a | n/a | ||
| W• B••••••••• L•• | unstated lien unstated | n/a | n/a | ||
| N••• B••••• L•• | unstated lien unstated | n/a | n/a | ||
| O•• P•••• P•••••••• L•• | unstated lien unstated | n/a | n/a | ||
| P•••••• F•••• P••••••••, LLC | unstated lien unstated | n/a | n/a | ||
| A••••••••• L•• | unstated lien unstated | n/a | n/a | ||
| I••• H••••••• | unstated lien unstated | n/a | n/a | ||
| C••• C••••••• L•• | unstated lien unstated | n/a | n/a | ||
| D••••••• H••••••• I•• | unstated lien unstated | n/a | n/a |
- Fiscal year end
- 1231reported
- Incorporated
- DEreported
- On the SEC BDC report
- 2026 to 2026reported
- Filings listed
- 9reported10-Q and 10-K since 2022
- Former names
- Middle Market A••••• I••••••••• P•••••• L••••••reported
- Latest schedule
- 0001193125-26-349327reported