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.

BDC portfolios

231 business development companies

The SEC's 814- registrants. Fair value, principal and borrowers are from the latest tagged schedule of investments; a BDC that has not tagged a schedule (a new registrant, a non-traded fund on N-CSR) shows the registration only.

BDCAdviserFair valuePrincipal heldBorrowersFirst lienQuartersAs of
MidCap Apollo Institutional Private Lending
non-traded · CIK 2006758
APOLLO CREDIT MANAGEMENT, LLC$935M$982M219100%10Jun 30, 2026
Willow Tree Capital Corp
non-traded · CIK 1944831
WILLOW TREE CAPITAL CORP ADVISORS LLC$921M$1.1B61n/a7Jun 30, 2026
WhiteHorse Finance, Inc.
WHF, WHFCL · CIK 1552198
WhiteHorse Advisers, LLC$909M$894M11583%18Jun 30, 2026
Goldman Sachs Middle Market Lending Corp. II
non-traded · CIK 1865174
Goldman Sachs Asset Management, L.P$883M$1.1B9099%11Jun 30, 2025
Golub Capital Direct Lending Corp
non-traded · CIK 1868878
GC ADVISORS LLC$845M$842M29597%15Jun 30, 2026
Brightwood Capital Corp I
non-traded · CIK 1895316
BRIGHTWOOD CAPITAL ADVISORS, LLC$820M$839M6493%15Jun 30, 2026
Muzinich BDC, Inc.
non-traded · CIK 1779523
MUZINICH BDC ADVISER, LLC$819M$204M1521%6Jun 30, 2026
Stone Point Credit Income Fund
non-traded · CIK 2031283
STONE POINT CREDIT INCOME ADVISER LLC$787M$799M11489%7Jun 30, 2026
TriplePoint Venture Growth BDC Corp.
TPVG · CIK 1580345
TRIPLEPOINT ADVISERS LLC$765M$730M137n/a17Jun 30, 2026
Blue Owl Capital Corp II
non-traded · CIK 1655887
BLUE OWL CREDIT ADVISORS LLC$737M$665M17968%15Jun 30, 2026
SL Investment Fund II LLC
non-traded · CIK 2028686
MS CAPITAL PARTNERS ADVISER INC.$723M$733M103100%7Jun 30, 2026
Tcw Specialty Lending LLC
non-traded · CIK 2066811
TCW ASSET MANAGEMENT COMPANY LLC$715M$712M403%2Jun 30, 2026
5C Lending Partners Corp.
non-traded · CIK 1998387
5CLP ADVISOR$707M$718M2672%7Jun 30, 2026
Logan Ridge Finance Corp.
non-traded · CIK 1571329
MOUNT LOGAN MANAGEMENT$707M$190M7434%11Mar 31, 2025
TCW Direct Lending VIII LLC
non-traded · CIK 1825265
TCW ASSET MANAGEMENT COMPANY LLC$659M$655M414%15Jun 30, 2026
Commonwealth Credit Partners BDC I, Inc.
non-traded · CIK 1841514
COMMONWEALTH CREDIT ADVISORS, LLC$623M$687M5999%15Jun 30, 2026
Crestline Lending Solutions, LLC
non-traded · CIK 2035713
CRESTLINE MANAGEMENT, L.P.$615M$626M8991%5Jun 30, 2026
West Bay BDC LLC
non-traded · CIK 2020354
Goldman Sachs Asset Management, L.P$609M$808M5097%8Jun 30, 2026
TCW Direct Lending VII LLC
non-traded · CIK 1715933
TCW ASSET MANAGEMENT COMPANY LLC$607M$702M2411%16Jun 30, 2026
Muzinich Corporate Lending Income Fund, Inc.
non-traded · CIK 1985375
MUZINICH DIRECT LENDING ADVISER, LLC$605M$98.5M2627%6Jun 30, 2026
Senior Credit Investments, LLC
non-traded · CIK 1959568
JEFFERIES CREDIT MANAGEMENT LLC$599M$605M94100%11Jun 30, 2026
North Haven Private Income Fund A LLC
non-traded · CIK 1973476
MS CAPITAL PARTNERS ADVISER INC.$597M$607M22198%12Jun 30, 2026
Nuveen Churchill Private Credit Fund
non-traded · CIK 2022625
CHURCHILL ASSET MANAGEMENT LLC$553M$573M104n/a1Jul 31, 2024
First Eagle Private Credit Fund
non-traded · CIK 1890107
FIRST EAGLE INVESTMENT MANAGEMENT, LLC$553M$560M10736%12Jun 30, 2026
LGAM Private Credit LLC
non-traded · CIK 1983514
MS CAPITAL PARTNERS ADVISER INC.$527M$532M18299%11Jun 30, 2026
New Mountain Guardian IV Income Fund, L.L.C.
non-traded · CIK 1976719
NEW MOUNTAIN FINANCE ADVISERS, L.L.C.$495M$572M12295%12Jun 30, 2026
Advanced Flower Capital Inc.
AFCG · CIK 1822523
AFC MANAGEMENT, LLC$493M$641M1610%3Jun 30, 2026
BCP Investment Corp
BCIC · CIK 1372807
SIERRA CREST INVESTMENT MANAGEMENT LLC$486M$3.7B14959%16Jun 30, 2026
Andalusian Credit Company, LLC
non-traded · CIK 1979306
ANDALUSIAN CREDIT PARTNERS, LLC$452M$423M4392%9Jun 30, 2026
Steele Creek Capital Corp
non-traded · CIK 1817825
STEELE CREEK INVESTMENT MANAGEMENT LLC$431M$113M23225%6Jun 30, 2026
PGIM Private Credit Fund
PGIM · CIK 1923622
PGIM INVESTMENTS LLC$430M$512M831%15Jun 30, 2026
OHA Senior Private Lending Fund (U) LLC
non-traded · CIK 1955010
OHA PRIVATE CREDIT ADVISORS II, L.P.$424M$476M9599%15Jun 30, 2026
Stellus Private Credit BDC
non-traded · CIK 1901037
STELLUS PRIVATE BDC ADVISOR, LLC$421M$384M892%16Jun 30, 2026
Star Mountain Lower Middle-Market Capital Corp
non-traded · CIK 1786835
STAR MOUNTAIN FUND MANAGEMENT, LLC$411Mn/a6179%15Jun 30, 2026
Golub Capital Direct Lending Unlevered Corp
non-traded · CIK 1901606
GC ADVISORS LLC$396M$398M20599%15Jun 30, 2026
PIMCO Capital Solutions BDC Corp.
non-traded · CIK 1905824
PACIFIC INVESTMENT MANAGEMENT COMPANY LLC$395M$196M4434%13Jun 30, 2026
TriplePoint Private Venture Credit Inc.
non-traded · CIK 1792509
TRIPLEPOINT ADVISERS LLC$387M$334M195n/a15Jun 30, 2026
Audax Credit BDC Inc.
non-traded · CIK 1633858
not yet read$383M$399M13096%14Jun 30, 2026
AB Private Lending Fund
non-traded · CIK 1982701
AB PRIVATE CREDIT INVESTORS LLC$376M$381M16999%9Jun 30, 2026
Redwood Enhanced Income Fund, LP
non-traded · CIK 1870267
REDWOOD CAPITAL MANAGEMENT, LLC$359M$413M3078%12Sep 30, 2025
Sound Point Direct Lending BDC
non-traded · CIK 2061174
SOUND POINT CAPITAL MANAGEMENT, LP$340M$417M5198%3Jun 30, 2026
MONROE CAPITAL Corp
non-traded · CIK 1512931
MC Advisors$335M$354M9081%19Dec 31, 2025
Chicago Atlantic BDC, Inc.
LIEN · CIK 1843162
CHICAGO ATLANTIC BDC ADVISERS, LLC$335M$338M799%16Jun 30, 2026
Kayne DL 2021, Inc.
non-traded · CIK 1850787
KA CREDIT ADVISORS II, LLC$329M$334M87100%6Jun 30, 2026
Manulife Private Credit Fund
non-traded · CIK 1988280
Manulife Investment Management$329M$410M84n/a11Jun 30, 2026
WTI Fund X, Inc.
non-traded · CIK 1850938
WESTERN TECHNOLOGY INVESTMENT (WTI)$324M$402M109100%15Jun 30, 2026
OFS Capital Corp
OFS, OFSSH, OFSSO · CIK 1487918
OFS Advisor$298M$284M39n/a18Jun 30, 2026
Onex Direct Lending BDC Fund
non-traded · CIK 1860424
ONEX CREDIT ADVISOR, LLC$288M$322M4798%14Jun 30, 2026
Great Elm Capital Corp.
GECC, GECCG, GECCH, GECCI · CIK 1675033
GREAT ELM CAPITAL MANAGEMENT, LLC$272M$243M6651%15Jun 30, 2026
Silver Capital Holdings LLC
non-traded · CIK 1674760
Goldman Sachs Asset Management, L.P$264M$346M1681%15Jun 30, 2026
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