DFX Intelligence
The names on this page are hidden. Create a free account to reveal 5 records a month, or get Private Credit Intelligence at $249 a month for every name. Every figure, date and source on this page is public either way.
Borrower
T••••••• C••••• H•••••• C•••••••••
group grade Aoff every schedule since Dec 31, 2025sponsor unattributed
Also written as: Emerald JV LP
Nothing material in the last 200 days. Last change: 31 Dec 2025, $159M principal held by 2 lenders; matures Nov 2026.
Mark path, consensus per quarter end
98¢ · 98¢ · 97¢ · 97¢ · 97¢Q4 2024 to Q4 2025
Principal held
at least $159M
sum of BDC pieces, a lower bound
Fair value
$154M
97c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
Nov 13, 2026
$159M inside 24 months
On the tape since
Dec 31, 2021
latest Dec 31, 2025
Events
1
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | $112M | 97¢ | 0 pts |
| B••••••••• S•••••• L•••••• F••• | $47.1M | 97¢ | 0 pts |
Every BDC piece · 3 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | unstated lien unstated N••••••••• I••••• | $81.0M | $78.7M 97c | S+650 bp |
| B••••••••• S•••••• L•••••• F••• | unstated lien unstated N••••••••• I••••• | $47.1M | $45.8M 97c | S+650 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $30.6M | $29.7M 97c | S+650 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated exited Dec 31, 2025 | at least $159M | 97c | S+650 bp | Nov 13, 2026 | 2 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2025 | 2 | $159M | $154M | 97c | 0 |
| Sep 30, 2025 | 2 | $159M | $154M | 97c | 0 |
| Jun 30, 2025 | 2 | $159M | $154M | 97c | 0 |
| Mar 31, 2025 | 2 | $160M | $156M | 98c | 0 |
All 15 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2024 | 2 | $321M | $314M | 98c | 0 |
| Sep 30, 2024 | 2 | $161M | $158M | 99c | 0 |
| Jun 30, 2024 | 2 | $161M | $160M | 100c | 0 |
| Mar 31, 2024 | 2 | $162M | $160M | 99c | 0 |
| Dec 31, 2023 | 2 | $193M | $189M | 99c | 0 |
| Sep 30, 2023 | 2 | $162M | $159M | 99c | 0 |
| Jun 30, 2023 | 2 | $150M | $146M | 98c | 0 |
| Mar 31, 2023 | 2 | $119M | $115M | 98c | 0 |
| Dec 31, 2022 | 2 | $149M | $147M | 100c | 0 |
| Sep 30, 2022 | 2 | $111M | $109M | 100c | 0 |
| Dec 31, 2021 | 2 | $108M | $106M | 100c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2025
- Maturity extended (observed)Jun 30, 2025
- Maturity extended (observed)Jun 30, 2025
- Maturity extended (observed)Mar 31, 2023
- Maturity extended (observed)Mar 31, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- TAILWIND COLONYderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived