DFX Intelligence
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Borrower
K•••••••• P•• B••••• I••
Also written as: Inc. Emerald JV LP
Principal held
at least $199M
sum of BDC pieces, a lower bound
Fair value
$196M
99c on cost, debt pieces
Unfunded
$17.8M
commitments not yet drawn
BDC lenders
4
3 on the latest quarter
Facilities
6
0 equity pieces beside them
Next maturity
Dec 10, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
5
dated, non-routine
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 $132M | 98c | S+450 bp | Dec 10, 2029 | 4 |
| first lien term loan first lien | at least $67.5M | 100c | S+450 bp | Dec 10, 2029 | 1 |
| revolver lien unstated | unknown | n/a | S+450 bp | unstated | 2 |
| delayed draw term loan lien unstated | unknown | n/a | S+450 bp | unstated | 2 |
| first lien delayed draw term loan first lien exited Dec 31, 2024 | unknown | n/a | unstated | 2 | |
| first lien revolver first lien exited Dec 31, 2024 | unknown | n/a | unstated | 2 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | unstated lien unstated N••••••••• I••••• | $114M | $111M 98c | S+450 bp |
| B••••••••• P•••••• C••••• F••• | revolver lien unstated R••••••• 2 | n/a | n/a | S+450 bp |
| B••••••••• P•••••• C••••• F••• | revolver lien unstated R••••••• 1 | n/a | n/a | S+450 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated N••••••••• I••••• | $7.5M | $7.3M 98c | S+450 bp |
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated D•••••• D••• T••• L••• | n/a | n/a | S+450 bp |
| B••••••••• S•••••• L•••••• F••• | revolver lien unstated R••••••• 1 | n/a | n/a | S+450 bp |
| B••••••••• S•••••• L•••••• F••• | unstated lien unstated N••••••••• I••••• | $10.0M | $9.8M 98c | S+450 bp |
| B••••••••• S•••••• L•••••• F••• | unstated lien unstated N••••••••• I••••• | $699,000 | $675,000 98c | S+450 bp |
| B••••••••• S•••••• L•••••• F••• | delayed draw term loan lien unstated D•••••• D••• T••• L••• | n/a | n/a | S+450 bp |
| B••••••••• S•••••• L•••••• F••• | revolver lien unstated R••••••• 2 | n/a | n/a | S+450 bp |
| F••••••• B•• C•••••• C••• | term loan first lien | $41.8M | $41.8M 100c | S+450 bp |
| F••••••• B•• C•••••• C••• | term loan first lien | $23.1M | $23.1M 101c | S+450 bp |
| F••••••• B•• C•••••• C••• | term loan first lien | $2.7M | $2.7M 101c | S+450 bp |
| F••••••• B•• C•••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D••• | n/a | n/a | |
| F••••••• B•• C•••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D••• | n/a | n/a |
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 | $199M | $196M | 99c | 0 |
| Mar 31, 2026 | 3 | $200M | $200M | 100c | 0 |
| Dec 31, 2025 | 3 | $184M | $184M | 101c | 0 |
| Sep 30, 2025 | 3 | $173M | $173M | 101c | 0 |
| Jun 30, 2025 | 3 | $164M | $164M | 101c | 0 |
| Mar 31, 2025 | 3 | $155M | $154M | 101c | 0 |
| Dec 31, 2024 | 3 | $330M | $329M | 101c | 0 |
| Sep 30, 2024 | 3 | $149M | $149M | 101c | 0 |
| Jun 30, 2024 | 3 | $133M | $133M | 101c | 0 |
| Mar 31, 2024 | 3 | $129M | $129M | 101c | 0 |
| Dec 31, 2023 | 3 | $113M | $113M | 101c | 0 |
| Sep 30, 2023 | 4 | $125M | $125M | 101c | 0 |
| Jun 30, 2023 | 4 | $120M | $119M | 101c | 0 |
| Mar 31, 2023 | 4 | $102M | $101M | 101c | 0 |
| Dec 31, 2022 | 4 | $128M | $127M | 101c | 0 |
| Sep 30, 2022 | 2 | $51.3M | $50.0M | 100c | 0 |
| Dec 31, 2021 | 4 | $87.8M | $85.7M | 100c | 0 |
What changed
- Spread changed (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 facilityMar 31, 2025
- Facility left every BDC scheduleDec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- Lender left a facilityDec 31, 2024
- Lender left a facilityDec 31, 2024
- New borrower on a BDC scheduleDec 31, 2021
Sponsor
- K•••• • C••••••• L•••
- Form D signer consensus, grade Aestimated"••• Locked"
Identity
- Group key
- KNOWLEDGE PROderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 4 BDCsderived