DFX Intelligence
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B••••••••• P•••••• R••• E••••• C••••• • I••••• F•••
Business development companymanaged by B••••••••• R••• E••••• S•••••• S••••••••• A••••••• L•••••Non-traded· NEW YORK, NY
A non-traded business development company, managed by B••••••••• R••• E••••• S•••••• S••••••••• A••••••• L•••••, holding $2.0B across 104 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
- $2.0B
- Borrowers
- 104
- Mark on cost
- 100.4¢
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
- 95 → 104borrowers
Added a net 9 borrowers in the quarter to Jun 30, 2026, to 104.
Q2 2026 · The book is turning over faster than usual.
- $500M → $2.0Bfair value, 4 quarters
Its portfolio grew 304% at fair value over the last four quarters.
Q2 2026 · A fast-growing book is deploying new capital.
Every headline figure, and the identifiersCIK 2049733 · file 814-01853ShowHide
Fair value
$2.0B
as of Jun 30, 2026
Principal held
$2.2B
debt pieces, the filer's figure
Cost
$2.0B
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
123
104 borrowers
First lien
not established
100% debt by fair value
Quarters on the tape
5
since Jun 30, 2025
Facilities held
104
0 sponsors financed
Portfolio through time
Fair value by quarter end$2.0B as of Jun 30, 2026
Jun 30, 2025$500M then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $2.0B | 104 | 100c | 0 | 345 bp |
| Mar 31, 2026 | $2.0B | 95 | 100c | 0 | 350 bp |
| Dec 31, 2025 | $1.5B | 100 | 101c | 0 | 336 bp |
| Sep 30, 2025 | $793M | 82 | 101c | 0 | 328 bp |
All 5 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $500M | 56 | 101c | 0 | 317 bp |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- 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 borrower on a BDC scheduleJun 30, 2026
Full timeline · 20 eventsShow fewer
- 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 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 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 borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
Largest facilities held, with co-lenders
- K•• A•• V• other1 BDC hold it · matures Nov 9, 2030$201M 101c
- K••••• M••••••••• P•••••••• other1 BDC hold it · matures Nov 9, 2030$200M 101c
- C••••• L•••••••• P•••••••• other1 BDC hold it · matures Apr 9, 2031$193M 100c
- A•••• other1 BDC hold it · matures Apr 9, 2031$103M 100c
- C••••••• H•••••• P•••••••• other1 BDC hold it · matures Dec 9, 2030$97.5M 101c
- F•••••••• A••••••• other1 BDC hold it · matures Feb 9, 2031$89.2M 100c
- U• M••••••• P•••••••• other1 BDC hold it$74.3M 100c
- C•••••• R•••• other1 BDC hold it · matures Dec 9, 2030$72.7M 101c
- A••••• M••••••••• P•••••••• other1 BDC hold it$70.0M 100c
- R•••• H••• other1 BDC hold it · matures Oct 9, 2030$64.0M 101c
- T•• J•••••• P•••• I• other1 BDC hold it · matures Jul 9, 2030$59.7M 101c
- S•••••• M••••••••• other1 BDC hold it$50.0M 100c
Schedule of investments at Jun 30, 2026
123 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| C•• 2•••••• B•• | unstated lien unstated | $1.0M | $1.0M 99c | 7.49% | |
| J•••• 2••••••• D• | unstated lien unstated | $1.1M | $992,000 99c | 4.00% | |
| G•••• 2•••••••• B• | unstated lien unstated | $918,000 | $917,000 100c | 6.88% | |
| V•••• 2••••• B• | unstated lien unstated | $879,000 | $883,000 99c | 7.89% | |
| N••• 2•••••••• B• | unstated lien unstated | $857,000 | $846,000 100c | 6.50% | |
| F•• 6•• 0••••••••• 1••• | unstated lien unstated | $817,000 | $830,000 101c | 6.50% | |
| C••• 2••••• B• | unstated lien unstated | $766,000 | $759,000 98c | 7.23% | |
| B• 2••••••• F• | unstated lien unstated | $741,000 | $743,000 99c | S+360 bp | |
| J•••• 2•••••••• E• | unstated lien unstated | $869,000 | $725,000 99c | 4.05% | |
| A•• 8•• 1••••••••• 1••• | unstated lien unstated | $612,000 | $604,000 101c | 8.50% | |
| C••• 2••••• B• | unstated lien unstated | $578,000 | $575,000 99c | 7.48% | |
| D••• 2•••••••• B• | unstated lien unstated | $569,000 | $565,000 99c | 6.68% | |
| C••• 2•••••••• X• | unstated lien unstated | $10.0M | $507,000 102c | 1.60% | |
| M••• 2•••••••• B•• | unstated lien unstated | $487,000 | $486,000 99c | 7.33% | |
| E••• 2•••••••• E• | unstated lien unstated | $398,000 | $397,000 101c | S+256 bp | |
| J•••• 2••••••• X• | unstated lien unstated | $3.9M | $274,000 99c | 1.62% | |
| C••• 2•••••••• B• | unstated lien unstated | $226,000 | $223,000 99c | 7.08% | |
| C••• 2••••• B• | unstated lien unstated | $211,000 | $209,000 99c | 7.38% | |
| U•••• 2•••••• C• | unstated lien unstated | $208,000 | $197,000 102c | 4.68% | |
| I•• 2••••••• E• | unstated lien unstated | $178,000 | $177,000 99c | S+424 bp | |
| J•••• 2•••••••• A• | unstated lien unstated | $123,000 | $110,000 101c | 1.92% | |
| O•••• c••• a•• c••• e••••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| D•••••• G••••••••• C••• M••••••••• | unstated lien unstated | Not disclosed | Not disclosed | 3.54% |
Page 2 of 2Previous
Registration
- Fiscal year end
- unknownreported
- Incorporated
- DEreported
- On the SEC BDC report
- 2026 to 2026reported
- Filings listed
- 5reported10-Q and 10-K since 2022
- Former names
- B••••••••• Private Real Estate Credit Fundreported
- Latest schedule
- 0002049733-26-000037reported
Not yet on record: first lien.