DFX Intelligence
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Borrower
Q•• B••••••• P•••••••• I••
Construction & B•••••••group grade Aon a schedule nowsponsor unattributed
Also written as: Emerald JV LP
Principal held
at least $43.4M
sum of BDC pieces, a lower bound
Fair value
$43.3M
100c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
5
4 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Apr 30, 2032
no dated debt inside 24 months
On the tape since
Jun 30, 2025
latest Jun 30, 2026
Events
3
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien | at least $43.4M | 100c | SOFR+200 bp | Jul 1, 2033 | 4 |
| other lien unstated exited Mar 31, 2026 | at least $2.7M | 101c | S+200 bp | Apr 30, 2032 | 1 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••••• D••• S•••••••• B•• | term loan first lien Investment T••• F•••• L••• S•••••• D••• - T••• L••• I••••••• R••• S+200, 0.00% F•••• M•••• | $40.0M | $40.0M 100c | SOFR+200 bp |
| B•••••• P•••••• C••••• C••• | term loan first lien F•••• L••• S••••• S•••••• T••• L••• | $1.5M | $1.5M 100c | S+225 bp |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | term loan first lien F•••• L••• D••• 1 | $700,000 | $699,000 100c | S+200 bp |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | term loan first lien F•••• L••• D••• 2 | $788,000 | $787,000 101c | S+200 bp |
| S••••• C•••• C•••••• C••• | term loan first lien F•••• L••• - T••• L••• | $175,000 | $175,000 100c | 2.00% |
| S••••• C•••• C•••••• C••• | term loan first lien F•••• L••• - T••• L••• | $200,000 | $200,000 101c | 2.00% |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2026 | 4 | $43.4M | $43.3M | 100c | 0 |
| Mar 31, 2026 | 2 | $3.4M | $3.4M | 101c | 0 |
| Dec 31, 2025 | 2 | $3.3M | $3.4M | 101c | 0 |
| Sep 30, 2025 | 1 | $2.7M | $2.7M | 102c | 0 |
| Jun 30, 2025 | 1 | $2.7M | $2.7M | 102c | 0 |
What changed
- Maturity extended (observed)Jun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Facility left every BDC scheduleMar 31, 2026
- New borrower on a BDC scheduleJun 30, 2025
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- Q•• B••••••• P•••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 5 BDCsderived
- Industry
- Construction & B•••••••reportedas one filer wrote it