DFX Intelligence
Private Credit Intelligence
The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.
Borrower
The Smilist DSO, LLC
Health care providers and servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: 2024-1; 2024-2; Add-On; LLC One; LLC One Type; LLC Type
Principal held
at least $112M
sum of BDC pieces, a lower bound
Fair value
$110M
106c on cost, debt pieces
Unfunded
$1.8M
commitments not yet drawn
BDC lenders
6
5 on the latest quarter
Facilities
6
0 equity pieces beside them
Next maturity
Apr 4, 2029
no dated debt inside 24 months
On the tape since
Jun 30, 2024
latest Jun 30, 2026
Events
2
dated, non-routine
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 $56.0M | 101c | SOFR+600 bp | Apr 4, 2029 | 3 |
| delayed draw term loan lien unstated | at least $22.4M | 118c | SOFR+600 bp | Apr 4, 2029 | 4 |
| term loan lien unstated | at least $19.3M | 117c | SOFR+600 bp | Apr 4, 2029 | 3 |
| first lien delayed draw term loan first lien | at least $11.8M | 99c | S+525 bp | Apr 4, 2029 | 1 |
| first lien revolver first lien | at least $2.0M | 100c | S+600 bp | Apr 4, 2029 | 1 |
| revolver lien unstated | at least $1.0M | 118c | SOFR+600 bp | Apr 4, 2029 | 4 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| Brightwood Capital Corp I | revolver lien unstated Revolver | n/a | n/a | |
| Brightwood Capital Corp I | term loan first lien Senior Secured First Lien Term Loan, Due 4/4/2029 | $6.5M | $6.5M 101c | SOFR+600 bp |
| Brightwood Capital Corp I | revolver lien unstated Revolver, Due 4/4/2029 | $287,000 | $287,000 101c | SOFR+600 bp |
| Brightwood Capital Corp I | delayed draw term loan lien unstated Delayed Draw Term Loan, Due 4/4/2029 | $2.1M | $2.1M 101c | SOFR+600 bp |
| Fidelity Private Credit Fund | revolver lien unstated Revolving Credit Facility Reference Rate and Spread SOFR + 6.00% Interest Rate 9.64% Matur | $605,662 | $605,662 102c | SOFR+600 bp |
| Fidelity Private Credit Fund | delayed draw term loan lien unstated Delayed Draw Term Loan Reference Rate and Spread SOFR + 5.25% Interest Rate 8.98% Maturity | $8.8M | $8.7M 100c | SOFR+525 bp |
| Fidelity Private Credit Fund | delayed draw term loan lien unstated Delayed Draw Term Loan Reference Rate and Spread SOFR + 6.00% Interest Rate 9.73% Maturity | $3.6M | $3.6M 101c | SOFR+600 bp |
| Fidelity Private Credit Fund | delayed draw term loan lien unstated Delayed Draw Term Loan Reference Rate and Spread SOFR + 6.00% Interest Rate 9.73% Maturity | $4.5M | $4.5M 101c | SOFR+600 bp |
| Fidelity Private Credit Fund | term loan lien unstated Term Loan Reference Rate and Spread SOFR + 6.00% Interest Rate 9.73% Maturity Date 4/4/202 | $16.8M | $16.8M 101c | SOFR+600 bp |
| Manulife Private Credit Fund | delayed draw term loan lien unstated Delayed Draw Term Loan (3 month CME Term SOFR + 6.000%) | Senior loans 238.6% | $552,476 | $546,951 | SOFR+600 bp |
| Manulife Private Credit Fund | term loan lien unstated Term Loan (3 month CME Term SOFR + 6.000%) | Senior loans 238.6% | $2.5M | $2.5M | SOFR+600 bp |
| Manulife Private Credit Fund | revolver lien unstated Revolver (1 month CME Term SOFR + 6.000%) | Senior loans 238.6% | $140,351 | $140,351 | SOFR+600 bp |
| Manulife Private Credit Fund | delayed draw term loan lien unstated Delayed Draw Term Loan (3 month CME Term SOFR + 5.250%) | Senior loans 238.6% | $2.0M | $2.0M | SOFR+525 bp |
| Manulife Private Credit Fund | delayed draw term loan lien unstated Delayed Draw Term Loan (3 month CME Term SOFR + 6.000%) | Senior loans 238.6% | $687,933 | $687,933 | SOFR+600 bp |
| Monroe Capital Enhanced Corporate Lending Fund | term loan first lien Senior Secured Loans | Non-Affiliated Issuer | $1.1M | $1.1M 100c | S+600 bp |
| Monroe Capital Enhanced Corporate Lending Fund | term loan first lien Senior Secured Loans | Non-Affiliated Issuer | $3.9M | $3.9M 100c | S+600 bp |
| Monroe Capital Enhanced Corporate Lending Fund | term loan first lien Senior Secured Loans | Non-Affiliated Issuer | $2.6M | $2.6M 100c | S+600 bp |
| Monroe Capital Income Plus Corp | delayed draw term loan first lien Delayed Draw) | Senior Secured Loans | $11.8M | $10.4M 99c | S+525 bp |
| Monroe Capital Income Plus Corp | term loan first lien Senior Secured Loans | $6.1M | $6.1M 100c | S+600 bp |
| Monroe Capital Income Plus Corp | revolver first lien Revolver) | Senior Secured Loans | $2.0M | $1.3M 100c | S+600 bp |
| Monroe Capital Income Plus Corp | term loan first lien Senior Secured Loans | $7.6M | $7.6M 100c | S+600 bp |
| Monroe Capital Income Plus Corp | delayed draw term loan first lien Delayed Draw) | n/a | n/a | |
| Monroe Capital Income Plus Corp | term loan first lien Senior Secured Loans | $28.2M | $28.2M 101c | S+600 bp |
| Monroe Capital Income Plus Corp | revolver first lien Revolver) | 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 | 5 | $112M | $110M | 106c | 0 |
| Mar 31, 2026 | 6 | $144M | $140M | 105c | 0 |
| Dec 31, 2025 | 6 | $149M | $146M | 110c | 0 |
| Sep 30, 2025 | 5 | $134M | $128M | 106c | 0 |
| Jun 30, 2025 | 5 | $133M | $126M | 107c | 0 |
| Mar 31, 2025 | 5 | $128M | $115M | 107c | 0 |
| Dec 31, 2024 | 5 | $230M | $200M | 112c | 0 |
| Sep 30, 2024 | 5 | $110M | $105M | 106c | 0 |
| Jun 30, 2024 | 5 | $105M | $94.1M | 105c | 0 |
What changed
- Spread changed (observed)Mar 31, 2025
- 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
- SMILIST DSOderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 6 BDCsderived
- Industry
- Health care providers and servicesreportedas one filer wrote it