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.
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Borrower
G•••• T••••••• A••••••• L••
Professional Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: Emerald JV LP; G•••• T••••••• Advisors Holdings LLC; LLC 1; LLC 2; Verdelite JV LP
Principal held
at least $163M
sum of BDC pieces, a lower bound
Fair value
$155M
95c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
16
13 on the latest quarter
Facilities
4
0 equity pieces beside them
Next maturity
Jun 1, 2031
no dated debt inside 24 months
On the tape since
Jun 30, 2024
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 |
|---|---|---|---|---|---|
| first lien term loan first lien | at least $107M | 96c | SOFR+275 bp | Jun 2, 2031 | 12 |
| other lien unstated | at least $55.7M | 95c | S+275 bp | Jun 2, 2031 | 4 |
| first lien delayed draw term loan first lien exited Mar 31, 2025 | at least $189,000 | n/a | SOFR+275 bp | Jun 2, 2031 | 1 |
| delayed draw term loan lien unstated exited Dec 31, 2024 | unknown | n/a | unstated | 1 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A• P•••••• L•••••• F••• | term loan first lien US C•••••••• D••• | 1st Lien/Senior Secured D••• | Term Loan | 6.40% (S + 2.75%) | 6/2/203 | $497,487 | $472,563 95c | SOFR+275 bp |
| A•••••• P•••••• C••••• F••• | term loan first lien Asset Type F•••• Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate 6.41% Ma | $2.6M | $2.4M 95c | SOFR+275 bp |
| A•••••• S•••••••• C••••• F••• | term loan first lien Asset Type F•••• Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate 6.41% Ma | $7.1M | $6.8M 96c | SOFR+275 bp |
| A•••••• S•••••••• C••••• F••• I• L•• | term loan first lien Asset Type F•••• Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate 6.41% Ma | $1.2M | $1.2M 95c | SOFR+275 bp |
| A••••• D••• S•••••••• B•• | term loan first lien Investment Type F•••• Lien Secured D••• - Term Loan Interest Rate S+275, 0.00% Floor Matur | $63.7M | $60.8M 96c | SOFR+275 bp |
| A••• S•••••••• I••••• F••• | term loan first lien F•••• lien senior secured loan | $2.9M | $2.7M 95c | S+275 bp |
| B••• C•••••• P•••••• C••••• | term loan first lien F•••• Lien Senior Secured Loan SOFR Spread 2.75% Interest Rate 6.39% Maturity Date 6/2/203 | $3.0M | $2.8M 95c | SOFR+275 bp |
| B•••••••• P•••••• C••••• F••• | term loan first lien Instrument F•••• Lien Term Loan Ref SOFR(M) Spread 2.75% Total Coupon 6.39% Maturity 6/2/2 | $6.2M | $6.0M 96c | SOFR+275 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated Non-Affiliated Issuer | $11.4M | $10.9M 95c | S+275 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $5.0M | $4.7M 95c | S+275 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $18.8M | $17.9M 95c | S+275 bp |
| G•••••• S•••• P•••••• C••••• C•••• | term loan first lien 1st Lien/Senior Secured D••• Industry Professional Services Interest Rate 6.39% Reference | $5.5M | $5.2M 95c | SOFR+275 bp |
| G•••• C•••••• P•••••• C••••• F••• | term loan first lien Senior secured | $14.6M | $14.0M 95c | S+275 bp |
| H•• C•••••••• C•••••• S•••••••• F••• | unstated lien unstated Non-Affiliated Issuer | $5.5M | $5.3M 95c | S+275 bp |
| H•• C•••••••• L•••••• F••• | unstated lien unstated Non-Affiliated Issuer | $15.0M | $14.3M 95c | S+275 bp |
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 | 13 | $163M | $155M | 95c | 0 |
| Mar 31, 2026 | 12 | $167M | $157M | 94c | 0 |
| Dec 31, 2025 | 12 | $184M | $185M | 100c | 0 |
| Sep 30, 2025 | 11 | $185M | $184M | 100c | 0 |
| Jun 30, 2025 | 6 | $63.8M | $63.8M | 100c | 0 |
| Mar 31, 2025 | 5 | $17.9M | $17.6M | 100c | 0 |
| Dec 31, 2024 | 5 | $71.6M | $71.3M | 100c | 0 |
| Sep 30, 2024 | 6 | $34.5M | $34.6M | 100c | 0 |
| Jun 30, 2024 | 5 | $29.9M | $30.0M | 100c | 0 |
What changed
- New lender joined a facilityJun 30, 2026
- Marked down across lendersMar 31, 2026
- New lender joined a facilityMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Lender left a facilityDec 31, 2025
- New lender joined a facilityDec 31, 2025
- New lender joined a facilitySep 30, 2025
- New lender joined a facilitySep 30, 2025
- New lender joined a facilitySep 30, 2025
- New lender joined a facilitySep 30, 2025
- New lender joined a facilitySep 30, 2025
- Spread changed (observed)Mar 31, 2025
- New lender joined a facilityMar 31, 2025
- Facility left every BDC scheduleMar 31, 2025
- Facility left every BDC scheduleDec 31, 2024
- Lender left a facilitySep 30, 2024
- New lender joined a facilitySep 30, 2024
- Lender left a facilitySep 30, 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
- GRANT THORNTON ADVISORSderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 16 BDCsderived
- Industry
- Professional Servicesreportedas one filer wrote it