DFX Intelligence
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Borrower
C••••••••• S•••••• C••••••
Professional S••••••sgroup grade Aon a schedule nowsponsor unattributed
Also written as: Emerald JV LP
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 99¢ · 100¢ · 99¢ · 100¢Q2 2025 to Q2 2026
Principal held
at least $4.7M
sum of BDC pieces, a lower bound
Fair value
$4.6M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
6
3 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Nov 1, 2029
no dated debt inside 24 months
On the tape since
Sep 30, 2022
latest Jun 30, 2026
Events
4
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 |
|---|---|---|---|
| A••• S•••••••• I••••• F••• | $3.47M | 100¢ | +1 pts |
| L••• P•••••• C••••• L•• | $706K | 99¢ | 0 pts |
| S••••• C•••• C•••••• C••• | $488K | 100¢ | 0 pts |
Every BDC piece · 3 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••• S•••••••• I••••• F••• | term loan first lien F•••• lien senior secured loan | $3.5M | $3.4M 100c | S+200 bp |
| L••• P•••••• C••••• L•• | term loan first lien F•••• L••• D••• R•••••••• R••• and S••••• S + 2.00% I••••••• R••• 5.64% M••••••• D••• 11/0 | $706,000 | $701,000 99c | SOFR+200 bp |
| S••••• C•••• C•••••• C••• | term loan first lien F•••• L••• - T••• L••• | $488,000 | $487,000 100c | S+200 bp |
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 $4.7M | 100c | SOFR+200 bp | Nov 2, 2029 | 3 |
| other lien unstated exited Sep 30, 2025 | at least $1.6M | 101c | S+200 bp | Nov 2, 2029 | 1 |
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 | 3 | $4.7M | $4.6M | 100c | 0 |
| Mar 31, 2026 | 3 | $29.8M | $29.5M | 99c | 0 |
| Dec 31, 2025 | 3 | $41.8M | $41.8M | 100c | 0 |
| Sep 30, 2025 | 4 | $61.3M | $60.7M | 99c | 0 |
All 15 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 4 | $64.2M | $64.1M | 100c | 0 |
| Mar 31, 2025 | 3 | $63.2M | $62.8M | 99c | 0 |
| Dec 31, 2024 | 3 | $11.1M | $11.1M | 101c | 0 |
| Sep 30, 2024 | 2 | $6.9M | $6.9M | 100c | 0 |
| Jun 30, 2024 | 3 | $9.2M | $9.2M | 100c | 0 |
| Mar 31, 2024 | 4 | $11.7M | $11.7M | 101c | 0 |
| Dec 31, 2023 | 4 | $12.6M | $12.6M | 101c | 0 |
| Sep 30, 2023 | 3 | $12.9M | $12.8M | 101c | 0 |
| Jun 30, 2023 | 3 | $8.3M | $8.3M | 102c | 0 |
| Mar 31, 2023 | 2 | $4.3M | $4.3M | 102c | 0 |
| Dec 31, 2022 | 2 | $4.0M | $4.0M | 101c | 0 |
What changed
- Facility left every BDC scheduleSep 30, 2025
- New lender joined a facilityJun 30, 2025
- Spread changed (observed)Mar 31, 2025
- Lender left a facilityJun 30, 2024
- Spread changed (observed)Mar 31, 2024
Full timeline · 6 eventsShow fewer
- New borrower on a BDC scheduleSep 30, 2022
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- C••••••••• S••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 6 BDCsderived
- Industry
- Professional S••••••sreportedas one filer wrote it