DFX Intelligence
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Borrower
O•••• P•••••••• L••
Also written as: 1; Emerald JV LP; LLC Asset Type; LLC Assets; LLC Assets 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¢ · 100¢ · 100¢Q2 2025 to Q2 2026
Where each lender marks it, 1 points apart
100¢101¢
Principal held
at least $328M
sum of BDC pieces, a lower bound
Fair value
$328M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
18
9 on the latest quarter
Facilities
5
0 equity pieces beside them
Next maturity
Jul 25, 2030
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Jun 30, 2026
Events
10
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••• | $294M | 100¢ | 0 pts |
| S•••• P•••• C••••• C••• | $10M | 100¢ | -1 pts |
| F••••••• B•• C•••••• C••• | $6.12M | 100¢ | 0 pts |
| A•••••• S•••••••• C••••• F••• | $4.42M | 100¢ | 0 pts |
| G•••• C•••••• P•••••• C••••• F••• | $3.94M | 100¢ | 0 pts |
View all 9 lendersShow fewerlargest exposure first
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | $3.44M | 101¢ | +1 pts |
| A•••••• P•••••• C••••• F••• | $3.11M | 100¢ | 0 pts |
| B•••••••• P•••••• C••••• F••• | $1.64M | 100¢ | 0 pts |
| A•••••• S•••••••• C••••• F••• I• L•• | $1.04M | 101¢ | +1 pts |
Every BDC piece · 13 positions across 9 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated N••••••••• I••••• | $165M | $165M 100c | S+500 bp |
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated N••••••••• I••••• | $87.5M | $87.5M 100c | S+500 bp |
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated | $32.5M | $32.6M 100c | S+275 bp |
| S•••• P•••• C••••• C••• | term loan second lien S••••• L••• T••• L•••, Due 5/31/2032 | $10.0M | $10.0M 100c | SOFR+500 bp |
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated N••••••••• I••••• | $7.9M | $7.9M 100c | S+275 bp |
View all 13 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| F••••••• B•• C•••••• C••• | unstated lien unstated | $6.1M | $6.1M 100c | S+275 bp |
| A•••••• S•••••••• C••••• F••• | term loan first lien Asset T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 2.75% I••••••• R••• 6.50% M• | $4.4M | $4.4M 100c | SOFR+275 bp |
| G•••• C•••••• P•••••• C••••• F••• | term loan first lien S••••• secured | $3.9M | $4.0M 100c | S+275 bp |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | term loan first lien F•••• L••• D••• | $3.4M | $3.5M 101c | S+275 bp |
| A•••••• P•••••• C••••• F••• | term loan first lien Asset T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 2.75% I••••••• R••• 6.50% M• | $3.1M | $3.1M 100c | SOFR+275 bp |
| B•••••••• P•••••• C••••• F••• | term loan first lien I••••••••• F•••• L••• T••• L••• Ref S•••(Q) F•••• 1.00% S••••• 2.75% T•••• C••••• 6.42% M• | $1.6M | $1.6M 100c | SOFR+275 bp |
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated | $1.1M | $1.1M 100c | S+275 bp |
| A•••••• S•••••••• C••••• F••• I• L•• | term loan first lien Asset T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 2.75% I••••••• R••• 6.50% M• | $1.0M | $1.0M 101c | SOFR+275 bp |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| delayed draw term loan lien unstated | at least $294M | 100c | S+500 bp | Dec 31, 2032 | 2 |
| first lien term loan first lien | at least $17.6M | 100c | SOFR+275 bp | Dec 31, 2032 | 13 |
| second lien term loan second lien | at least $10.0M | 100c | SOFR+500 bp | May 31, 2032 | 1 |
| other lien unstated | at least $6.1M | 100c | S+275 bp | Dec 31, 2032 | 5 |
| first lien delayed draw term loan first lien exited Sep 30, 2024 | unknown | n/a | S+325 bp | unstated | 4 |
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 | 9 | $328M | $328M | 100c | 0 |
| Mar 31, 2026 | 10 | $334M | $334M | 100c | 0 |
| Dec 31, 2025 | 11 | $350M | $350M | 100c | 0 |
| Sep 30, 2025 | 10 | $281M | $281M | 100c | 0 |
All 13 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 10 | $263M | $264M | 100c | 0 |
| Mar 31, 2025 | 10 | $255M | $255M | 100c | 0 |
| Dec 31, 2024 | 8 | $465M | $466M | 100c | 0 |
| Sep 30, 2024 | 11 | $244M | $244M | 100c | 0 |
| Jun 30, 2024 | 11 | $245M | $245M | 100c | 0 |
| Mar 31, 2024 | 8 | $26.8M | $26.9M | 101c | 0 |
| Dec 31, 2023 | 9 | $27.4M | $27.3M | 101c | 0 |
| Sep 30, 2023 | 8 | $22.7M | $22.6M | 101c | 0 |
| Dec 31, 2022 | 3 | $0 | $0 | n/a | 0 |
What changed
- Lender left a facilityMar 31, 2026
- Maturity extended (observed)Dec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Lender left a facilityDec 31, 2025
- New lender joined a facilityDec 31, 2025
Full timeline · 30 eventsShow fewer
- New lender joined a facilityDec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Lender left a facilitySep 30, 2025
- Lender left a facilitySep 30, 2025
- New lender joined a facilityMar 31, 2025
- New lender joined a facilityMar 31, 2025
- Spread changed (observed)Dec 31, 2024
- Spread changed (observed)Dec 31, 2024
- New lender joined a facilityDec 31, 2024
- Lender left a facilityDec 31, 2024
- Lender left a facilitySep 30, 2024
- Lender left a facilitySep 30, 2024
- Lender left a facilitySep 30, 2024
- Facility left every BDC scheduleSep 30, 2024
- Maturity extended (observed)Jun 30, 2024
- Lender left a facilityJun 30, 2024
- New lender joined a facilityJun 30, 2024
- Spread increasedJun 30, 2024
- Maturity extended (observed)Jun 30, 2024
- Spread changed (observed)Mar 31, 2024
Sponsor
Possible relationship, not established: F•••••• I••••••••• P•••••••, because a company of this name is on the sponsor's portfolio page (confidence 0.7). No deal announcement or filing names it as a party, so it is not shown as this borrower’s sponsor.
- F•••••• I••••••••• P•••••••
- the sponsor's own portfolio page lists a company of this nameestimatedfinbackinvestmentpartners.com"••• Locked"
- L•••••• G•••• • P•••••••• L•••
- the sponsor's own portfolio page lists a company of this nameestimatedleonardgreen.com"••• Locked"
Identity
- Group key
- O•••• P•••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 18 BDCsderived
- Industry
- Professional Servicesreportedas one filer wrote it