DFX Intelligence
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Borrower
B•••••• I•••••••• G•••• H•••••••• L••
I••••••••group grade Aon a schedule nowsponsor unattributed
Also written as: Emerald JV LP; LLC The Asset Type; Verdelite JV LP
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 100¢ · 100¢ · 99¢ · 98¢Q2 2025 to Q2 2026
Where each lender marks it, 0 points apart
98¢98¢
Principal held
at least $36.8M
sum of BDC pieces, a lower bound
Fair value
$36.1M
98c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
6
4 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
May 26, 2031
no dated debt inside 24 months
On the tape since
Jun 30, 2024
latest Jun 30, 2026
Events
1
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 |
|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | $33.7M | 98¢ | -1 pts |
| A•••••• S•••••••• C••••• F••• | $1.65M | 98¢ | 0 pts |
| S••••• C•••• C•••••• C••• | $809K | 98¢ | -1 pts |
| B•••••• P•••••• C••••• C••• | $565K | 98¢ | -1 pts |
Every BDC piece · 6 positions across 4 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $15.7M | $15.4M 98c | S+250 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated N••••••••• I••••• | $11.8M | $11.5M 98c | S+250 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $6.3M | $6.1M 98c | S+250 bp |
| A•••••• S•••••••• C••••• F••• | term loan first lien Asset T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 2.50% I••••••• R••• 6.16% M• | $1.7M | $1.6M 98c | SOFR+250 bp |
| S••••• C•••• C•••••• C••• | term loan first lien F•••• L••• - T••• L••• | $809,000 | $794,000 98c | S+250 bp |
View all 6 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B•••••• P•••••• C••••• C••• | term loan first lien F•••• L••• S••••• S•••••• T••• L••• | $565,000 | $552,000 98c | S+250 bp |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated | at least $33.7M | 98c | S+250 bp | May 26, 2031 | 2 |
| first lien term loan first lien | at least $3.0M | 98c | SOFR+250 bp | May 27, 2031 | 3 |
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 | $36.8M | $36.1M | 98c | 0 |
| Mar 31, 2026 | 4 | $36.9M | $36.3M | 99c | 0 |
| Dec 31, 2025 | 4 | $33.8M | $33.8M | 100c | 0 |
| Sep 30, 2025 | 4 | $29.0M | $29.0M | 100c | 0 |
All 9 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 4 | $28.5M | $28.6M | 100c | 0 |
| Mar 31, 2025 | 3 | $27.8M | $27.7M | 100c | 0 |
| Dec 31, 2024 | 4 | $56.5M | $57.0M | 101c | 0 |
| Sep 30, 2024 | 2 | $5.2M | $5.2M | 100c | 0 |
| Jun 30, 2024 | 2 | $5.2M | $5.2M | 100c | 0 |
What changed
- New lender joined a facilityDec 31, 2025
- Lender left a facilitySep 30, 2025
- New lender joined a facilityDec 31, 2024
- New borrower on a BDC scheduleJun 30, 2024
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- BALDWIN INSURANCEderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 6 BDCsderived
- Industry
- I••••••••reportedas one filer wrote it