DFX Intelligence
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Borrower
P•••••• S•••••• H•••••••• L••
group grade Aon a schedule nowsponsor unattributed
Also written as: LLC PSP Ultimate Holding, LP; PSP Ultimate Holdings, LP
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 100¢ · 100¢ · 100¢ · 101¢Q2 2025 to Q2 2026
Where each lender marks it, 0 points apart
101¢101¢
Principal held
at least $13.7M
sum of BDC pieces, a lower bound
Fair value
$15.0M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
Jan 10, 2030
no dated debt inside 24 months
On the tape since
Mar 31, 2025
latest Jun 30, 2026
Events
2
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| S•••••• C•••••• I••••••••• C••• | $8.39M | 101¢ | +1 pts |
| S•••••• P•••••• C••••• B•• | $5.26M | 101¢ | +1 pts |
Every BDC piece · 5 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| S•••••• C•••••• I••••••••• C••• | term loan lien unstated T••• L••• | $8.4M | $8.4M 101c | //stelluscapital.com/20260630#Three Month Term Secured Overnight Financing Rate+500 bp |
| S•••••• P•••••• C••••• B•• | term loan lien unstated T••• L••• (P••• SPV) | $3.6M | $3.6M 101c | SOFR+500 bp |
| S•••••• P•••••• C••••• B•• | term loan lien unstated T••• L••• | $1.6M | $1.6M 101c | SOFR+500 bp |
| S•••••• C•••••• I••••••••• C••• | equity equity C•••• A U•••• | Not disclosed | $773,576 155c | |
| S•••••• P•••••• C••••• B•• | equity equity C•••• A U•••• | Not disclosed | $668,317 155c |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| term loan lien unstated | at least $13.7M | 101c | //stelluscapital.com/20260630#Three Month Term Secured Overnight Financing Rate+500 bp | Jan 10, 2030 | 2 |
| revolver lien unstated exited Mar 31, 2026 | at least $480,274 | 99c | SOFR+500 bp | Jan 10, 2030 | 2 |
Equity pieces beside the debt: equity ($1.4M fair value, 2 BDCs)
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 | 2 | $13.7M | $13.6M | 101c | 0 |
| Mar 31, 2026 | 2 | $14.2M | $14.0M | 100c | 0 |
| Dec 31, 2025 | 2 | $15.4M | $15.2M | 100c | 0 |
| Sep 30, 2025 | 2 | $13.8M | $13.6M | 100c | 0 |
All 6 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 2 | $13.8M | $13.6M | 100c | 0 |
| Mar 31, 2025 | 2 | $14.1M | $13.9M | 100c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2026
- New borrower on a BDC scheduleMar 31, 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
- PACIFIC SHORINGderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived