DFX Intelligence
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F••••••• B•• R••• E••••• D••• B••
Business development companymanaged by B•••••• S••••• P•••••••• L••••Non-tradedLatest schedule Jun 30, 2025· NEW YORK, NY
A non-traded business development company, managed by B•••••• S••••• P•••••••• L••••, holding $1.3B across 60 borrowers at Jun 30, 2025.
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
- $1.3B
- Borrowers
- 60
- Mark on cost
- 100.8¢
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
Nothing material in the last 200 days. Last change: 30 Jun 2025, Added a net 9 borrowers in the quarter to Jun 30, 2025, to 60.
Every headline figure, and the identifiersCIK 2018545 · file 814-01736ShowHide
Fair value
$1.3B
as of Jun 30, 2025
Principal held
$1.3B
debt pieces, the filer's figure
Cost
$1.3B
101c on cost, debt pieces
Unfunded
$155M
commitments not yet drawn
Positions
89
60 borrowers
First lien
not established
100% debt by fair value
Quarters on the tape
5
since Jun 30, 2024
Facilities held
0
0 sponsors financed
Portfolio through timeHow each quarter is readEach quarter end is the schedule as filed for that instant; a restated year end is taken from the latest filing that carries it.
Fair value by quarter end$1.3B as of Jun 30, 2025
Jun 30, 2024$88.6M then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $1.3B | 60 | 101c | 0 | 424 bp |
| Mar 31, 2025 | $1.1B | 51 | 101c | 0 | 424 bp |
| Dec 31, 2024 | $847M | 38 | 101c | 0 | 407 bp |
| Sep 30, 2024 | $523M | 23 | 101c | 0 | 467 bp |
All 5 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2024 | $88.6M | 4 | 101c | 0 | 351 bp |
Sponsors financedHow sponsors are countedCounted at BDC level here; the adviser page counts across every BDC it manages. A sponsor named by Form D signer consensus is an inference.
No borrower on this schedule has a sponsor attribution yet.
What changed
- New borrower on a BDC scheduleJun 30, 2025
- New borrower on a BDC scheduleJun 30, 2025
- New borrower on a BDC scheduleJun 30, 2025
- New borrower on a BDC scheduleJun 30, 2025
- New borrower on a BDC scheduleJun 30, 2025
Full timeline · 20 eventsShow fewer
- New borrower on a BDC scheduleJun 30, 2025
- New borrower on a BDC scheduleJun 30, 2025
- New borrower on a BDC scheduleJun 30, 2025
- New borrower on a BDC scheduleJun 30, 2025
- New borrower on a BDC scheduleMar 31, 2025
- New borrower on a BDC scheduleMar 31, 2025
- New borrower on a BDC scheduleMar 31, 2025
- New borrower on a BDC scheduleMar 31, 2025
- New borrower on a BDC scheduleMar 31, 2025
- New borrower on a BDC scheduleMar 31, 2025
- New borrower on a BDC scheduleMar 31, 2025
- New borrower on a BDC scheduleMar 31, 2025
- New borrower on a BDC scheduleMar 31, 2025
- New borrower on a BDC scheduleMar 31, 2025
- New borrower on a BDC scheduleMar 31, 2025
Schedule of investments at Jun 30, 2025
89 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| W••• 6• E••••• A••••••••• L•• •••••••• H••••••••• | unstated lien unstated | $50.0M | $50.0M 101c | S+341 bp | Jan 9, 2026 |
| G•••• C•••••• A••••••••• L••• M••••••••• | delayed draw term loan lien unstated | $49.2M | $49.2M 101c | S+275 bp | Sep 9, 2027 |
| S• 4••• L••• M••••••••• | delayed draw term loan lien unstated | $48.0M | $48.0M 101c | S+275 bp | Sep 9, 2027 |
| V•• K•••••••• L••• M••••••••• | unstated lien unstated | $47.2M | $47.2M 101c | S+295 bp | Nov 9, 2026 |
| A•••••••• C••• H••••••• L••• M••••••••• | unstated lien unstated | $46.8M | $46.8M 101c | S+275 bp | Aug 9, 2026 |
| R•••••••• P••••••••• I• L••• M••••••••• | unstated lien unstated | $44.3M | $44.3M 101c | S+295 bp | Oct 9, 2026 |
| C•••••• L•• B••••••• G•• L••• M••••••••• | unstated lien unstated | $44.3M | $44.3M 101c | S+280 bp | Jul 9, 2027 |
| G•• W•••• P••••• F•• L••• M•••• U•• | unstated lien unstated | $43.3M | $43.3M 100c | S+535 bp | Dec 9, 2025 |
| 5• W••• B•• O•••• L••• M••••••••• | delayed draw term loan unsecured or subordinated | $42.9M | $42.9M 101c | S+295 bp | Dec 9, 2026 |
| 1•• W••• S• J•••• O••••• L••• M••••••••• | unstated lien unstated | $42.8M | $42.8M 101c | S+650 bp | Nov 9, 2026 |
| G•• T• W••••• P••••••• O••••• L••• I••••••••• | delayed draw term loan lien unstated | $39.2M | $39.2M 101c | S+375 bp | Oct 9, 2027 |
| D• L••• I• A•••••••• H••••• L•• H••••••••• | unstated lien unstated | $36.9M | $36.9M 101c | S+403 bp | Jul 9, 2027 |
| 6••• S•••••• R••• L••• I••••••••• | delayed draw term loan lien unstated | $36.8M | $36.8M 101c | S+365 bp | Feb 9, 2028 |
| C• H•••••• L•••• M••••••••• | unstated lien unstated | $35.2M | $35.2M 101c | S+290 bp | Oct 9, 2026 |
| A•••• R• 1••• E••••••• L•• • A•••• R• W•••••••• L••• M••••••••• | unstated lien unstated | $34.0M | $34.0M 101c | S+315 bp | Apr 9, 2027 |
| B•••••• L••• M••••••••• | unstated lien unstated | $30.4M | $30.4M 101c | S+300 bp | Apr 9, 2027 |
| E•• 5•• L••• M••••••••• | unstated lien unstated | $29.7M | $29.7M 101c | S+315 bp | Feb 9, 2027 |
| P•••••• 2••• L••• M••••••••• | delayed draw term loan lien unstated | $29.4M | $29.4M 101c | S+275 bp | Sep 9, 2027 |
| V•• M•••••• L••• M••••••••• | unstated lien unstated | $29.4M | $29.4M 101c | S+310 bp | Oct 9, 2026 |
| U• L••••• M••••••• L••• M••••••••• | unstated lien unstated | $27.1M | $27.1M 101c | S+300 bp | Jul 9, 2026 |
| I•••••• M••• L•••••• P••••••••• M••••••••• | unstated lien unstated | $23.4M | $23.4M 101c | S+321 bp | Mar 9, 2027 |
| H•••• a• t•• G••••• L••• M••••••••• | unstated lien unstated | $22.5M | $22.5M 101c | S+290 bp | Feb 9, 2027 |
| 6• E••• A••••• A•••••• L••• H••••••••• | unstated lien unstated | $22.3M | $22.3M 101c | S+400 bp | Aug 9, 2026 |
| A•• D•••••••• L••• M••••••••• | unstated lien unstated | $21.2M | $21.2M 101c | S+305 bp | Jul 9, 2026 |
| G••••••••• P••••••••• I••• L••• M••••••••• | unstated lien unstated | $20.2M | $20.2M 101c | S+350 bp | Dec 9, 2026 |
| 2• W• 9•• S••••• L••• M••••••••• | delayed draw term loan unsecured or subordinated | $19.8M | $19.8M 100c | S+525 bp | Aug 9, 2025 |
| S• P••••••••• L••• M••••••••• | delayed draw term loan lien unstated | $19.3M | $19.3M 101c | S+275 bp | Nov 9, 2027 |
| B••• S•••• H••••••••• G••••• H••••••••• | delayed draw term loan lien unstated | $18.3M | $18.3M 101c | S+440 bp | Aug 9, 2026 |
| I••••• O•••••• T••• L••• H••••••••• | delayed draw term loan lien unstated | $15.9M | $15.9M 101c | S+475 bp | Nov 9, 2027 |
| S••••• S••• D•••••• L••• S••• S•••••• | unstated lien unstated | $15.1M | $15.1M 101c | S+350 bp | Aug 9, 2026 |
| B• 2•••••••• D• H••••••••• | unstated lien unstated | $15.1M | $15.1M 100c | S+294 bp | Jan 15, 2030 |
| A•••••• F•••• 2••• L•• M••••••••• | unstated lien unstated | $15.1M | $15.1M 101c | S+295 bp | Nov 9, 2027 |
| S•••• L••••• T•••• C••• M•• L••• M••••••••• | unstated lien unstated | $14.2M | $14.2M 100c | S+380 bp | Jul 9, 2025 |
| P•••• a• W•••••••• L•••••••• L••• M••••••••• | unstated lien unstated | $13.8M | $13.8M 101c | S+350 bp | Apr 9, 2028 |
| P•• M••••• P•••••• L••• M••••••••• | unstated lien unstated | $13.8M | $13.8M 101c | S+325 bp | Feb 9, 2027 |
| W••••••• M• T•• 1• L••• M••••••••• | unstated lien unstated | $13.7M | $13.7M 101c | S+275 bp | Sep 9, 2027 |
| C•••••• O••••• L••• M••••••••• | unstated lien unstated | $13.6M | $13.6M 101c | S+325 bp | Dec 9, 2027 |
| H•••• a• L•••••• H•••• L•• M••••••••• | unstated lien unstated | $13.5M | $13.5M 101c | S+280 bp | May 9, 2026 |
| A•• E••••• H•••• L••• H••••••••• | delayed draw term loan lien unstated | $12.6M | $12.6M 101c | S+395 bp | Jul 9, 2026 |
| C•••• P••••••••• L••• M••••••••• | unstated lien unstated | $12.2M | $12.2M 101c | S+375 bp | Dec 9, 2026 |
| R••• B••••••••• L••• M••••••••• | delayed draw term loan lien unstated | $10.7M | $10.7M 101c | S+325 bp | Jan 9, 2028 |
| A•• D••••• P• H••••• L•• H••••••••• | unstated lien unstated | $10.6M | $10.6M 101c | S+325 bp | Jan 9, 2027 |
| P••• M••••••••• P•••••• L•• • P••• D••••••• P•••••• L••• M••••••••• | unstated lien unstated | $10.4M | $10.4M 101c | S+400 bp | Feb 9, 2027 |
| 1••• W•• O••••• L••• M••••••••• | delayed draw term loan lien unstated | $10.3M | $10.3M 101c | S+275 bp | Apr 9, 2028 |
| C•••••••• L•••••••• C••••• O••••• L••• I••••••••• | delayed draw term loan lien unstated | $10.2M | $10.2M 101c | S+365 bp | Mar 9, 2027 |
| C••• K•••••• P••••••• O•••• L••• M••••••••• | unstated lien unstated | $10.0M | $10.0M 101c | S+295 bp | Jun 9, 2028 |
| N•• 2•••••••• C• M••••••••• | unstated lien unstated | $8.9M | $8.9M 100c | S+284 bp | Aug 15, 2029 |
| O•••••• V••••••• L••• I••••••••• | delayed draw term loan lien unstated | $8.4M | $8.4M 101c | S+350 bp | Dec 9, 2026 |
| R••• S•••• G•••• L•• • A•••• I••••••••• L••• M••••••••• | delayed draw term loan lien unstated | $7.6M | $7.6M 101c | S+325 bp | Mar 9, 2028 |
| D•••••• T•••• D• L••• H••••••••• | unstated lien unstated | $7.5M | $7.5M 101c | S+450 bp | May 9, 2028 |
| K•••• S•• L••• C•••• S•• L••• C•• C••••••• H•••• O•••• S•• L••• a•• T••• a•• A••••••••• H••••••••• | unstated lien unstated | $7.5M | $7.5M 101c | S+425 bp | May 9, 2027 |
| H••••••••• O•••• 2••• L••• M••••••••• | delayed draw term loan unsecured or subordinated | $6.6M | $6.6M 102c | S+830 bp | Aug 9, 2026 |
| W••• 6• E••••• A••••••••• L•• •••••• H••••••••• | unstated lien unstated | $6.3M | $6.3M 100c | S+1100 bp | Jan 9, 2026 |
| G•• W•••• P••••• S•• L••• M•••• U•• | unstated lien unstated | $5.6M | $5.6M 100c | 16.00% | Dec 9, 2025 |
| W••• 2•••••••• C• H••••••••• | unstated lien unstated | $5.0M | $5.0M 101c | S+334 bp | Apr 15, 2038 |
| D••• 2••••••• D• I••••••••• | unstated lien unstated | $5.0M | $5.0M 100c | S+354 bp | Aug 15, 2039 |
| G••• 2•••••• A•• M••••••••• | unstated lien unstated | $5.0M | $5.0M 100c | S+139 bp | Nov 15, 2036 |
| W•• W••••••••• U•••• R•••••• L••• M••••••••• | unstated lien unstated | $3.6M | $3.6M 110c | S+550 bp | Jul 9, 2027 |
| A•••••••• C••• H••••••• M••• L••• M••••••••• | unstated lien unstated | $3.2M | $3.2M 101c | S+675 bp | Aug 9, 2026 |
| 5• W••• B•• O•••• L••• M••••••••• | delayed draw term loan unsecured or subordinated | $2.6M | $2.6M 101c | S+823 bp | Dec 9, 2026 |
| W•• W••••••••• U•••• R•••••• L••• M••••••••• | unstated lien unstated | $2.5M | $2.5M 107c | S+1190 bp | Jul 9, 2027 |
| 2• W• 9•• S••••• L••• M••••••••• | delayed draw term loan unsecured or subordinated | $2.3M | $2.3M 100c | S+1275 bp | Aug 9, 2025 |
| I•••••• M••• F•••••• C•••••• L•• M••••••••• | unstated lien unstated | $1.8M | $1.8M 101c | S+718 bp | Mar 9, 2027 |
| 3•• P••••••• S••••• O••••• L••• M••••••••• | unstated lien unstated | $640,000 | $640,000 120c | S+600 bp | Apr 9, 2028 |
| 3•• P••••••• S••••• O••••• L••• M••••••••• | unstated lien unstated | $123,000 | $123,000 119c | S+1525 bp | Apr 9, 2028 |
| 1•• W••• S• J•••• O••••• L••• S••••• M••••••• | delayed draw term loan lien unstated | Not disclosed | Not disclosed | S+650 bp | |
| G•••• C•••••• A••••••••• L••• S••••• M••••••• | delayed draw term loan lien unstated | Not disclosed | Not disclosed | S+275 bp | |
| R••• B••••••••• L••• S••••• M••••••• | delayed draw term loan lien unstated | Not disclosed | Not disclosed | S+325 bp | |
| 3•• P••••••• S••••• O••••• L•• | delayed draw term loan unsecured or subordinated | Not disclosed | Not disclosed | ||
| G•• T• W••••• P••••••• O••••• L••• S••••• M••••••• | delayed draw term loan lien unstated | Not disclosed | Not disclosed | S+375 bp | |
| O•••••• V••••••• L••• S••••• M••••••• | delayed draw term loan lien unstated | Not disclosed | Not disclosed | S+350 bp | |
| W•• W••••••••• U•••• R•••••• L•• | delayed draw term loan unsecured or subordinated | Not disclosed | Not disclosed | ||
| 1••• W•• O••••• L••• S••••• M••••••• | delayed draw term loan lien unstated | Not disclosed | Not disclosed | S+275 bp | |
| C•••••••• L•••••••• C••••• O••••• L••• S••••• M••••••• | delayed draw term loan lien unstated | Not disclosed | Not disclosed | S+365 bp | |
| 5• W••• B•• O•••• L•• | delayed draw term loan unsecured or subordinated | Not disclosed | Not disclosed | ||
| R••• S•••• G•••• L•• • A•••• I••••••••• L••• S••••• M••••••• | delayed draw term loan lien unstated | Not disclosed | Not disclosed | S+325 bp | |
| 2• W• 9•• S••••• L•• | delayed draw term loan unsecured or subordinated | Not disclosed | Not disclosed | ||
| B••• S•••• H••••••••• G••••• S••••• M••••••• | delayed draw term loan lien unstated | Not disclosed | Not disclosed | S+440 bp | |
| H••••••••• O•••• 2••• L••• S••••• M••••••• | delayed draw term loan unsecured or subordinated | Not disclosed | Not disclosed | S+830 bp | |
| S• P••••••••• L••• S••••• M••••••• | delayed draw term loan lien unstated | Not disclosed | Not disclosed | S+275 bp | |
| 6••• S•••••• R••• L••• S••••• M••••••• | delayed draw term loan lien unstated | Not disclosed | Not disclosed | S+365 bp | |
| A•••• R• 1••• E••••••• L•• • A•••• R• W•••••••• L••• S••••• M••••••• | delayed draw term loan lien unstated | Not disclosed | Not disclosed | S+315 bp | |
| P•••••• 2••• L••• S••••• M••••••• | delayed draw term loan lien unstated | Not disclosed | Not disclosed | S+275 bp | |
| W•• W••••••••• U•••• R•••••• L••• S••••• M••••••• | delayed draw term loan unsecured or subordinated | Not disclosed | Not disclosed | ||
| I••••• O•••••• T••• L••• S••••• M••••••• | delayed draw term loan lien unstated | Not disclosed | Not disclosed | S+475 bp | |
| 5• W••• B•• O•••• L••• S••••• M••••••• | delayed draw term loan unsecured or subordinated | Not disclosed | Not disclosed | ||
| 2• W• 9•• S••••• L••• S••••• M••••••• | delayed draw term loan unsecured or subordinated | Not disclosed | Not disclosed | ||
| 3•• P••••••• S••••• O••••• L••• S••••• M••••••• | delayed draw term loan unsecured or subordinated | Not disclosed | Not disclosed | ||
| S• 4••• L••• S••••• M••••••• | delayed draw term loan lien unstated | Not disclosed | Not disclosed | S+275 bp |
Page 1 of 1
Registration
- Fiscal year end
- 1231reported
- Incorporated
- DEreported
- On the SEC BDC report
- 2025 to 2025reported
- Filings listed
- 5reported10-Q and 10-K since 2022
- Former names
- F••••••• BSP Real Estate Credit BDCreported
- Latest schedule
- 0002018545-25-000016reported
Not yet on record: first lien.