DFX Intelligence
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Borrower
C• I••••••••• I• L••
group grade Aoff every schedule since Sep 30, 2025sponsor unattributed
Also written as: Clubessential; LLC - Funded; LLC Emerald JV LP; LLC First and
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
101¢ · 101¢ · 100¢ · 100¢ · 100¢Q3 2024 to Q3 2025
Where each lender marks it on the first lien term loan, 0 points apart
100¢100¢
Principal held
at least $38.2M
sum of BDC pieces, a lower bound
Fair value
$38.3M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
6
3 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Feb 1, 2032
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Sep 30, 2025
Events
5
dated, non-routine
Lender marks
each lender's own fair value over cost at Sep 30, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| G•••• C•••••• P•••••• C••••• F••• | $25.3M | 100¢ | -1 pts |
| B••• O•• T••••••••• I••••• C•••• | $9.93M | 100¢ | 0 pts |
| B••••••••• P•••••• C••••• F••• | $2.95M | 100¢ | 0 pts |
Every BDC piece · 4 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| G•••• C•••••• P•••••• C••••• F••• | term loan first lien S••••• secured | $12.7M | $12.7M 100c | S+300 bp |
| G•••• C•••••• P•••••• C••••• F••• | term loan first lien S••••• secured | $12.7M | $12.7M 100c | S+300 bp |
| B••• O•• T••••••••• I••••• C•••• | term loan first lien F•••• lien senior secured loan | $9.9M | $9.9M 100c | S+300 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $3.0M | $3.0M 100c | S+300 bp |
Capital structure as the BDCs see it
latest quarter end Sep 30, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Sep 30, 2025 | at least $35.2M | 100c | S+300 bp | Mar 1, 2032 | 2 |
| other lien unstated exited Sep 30, 2025 | at least $3.0M | 100c | S+300 bp | Mar 25, 2032 | 1 |
| second lien term loan second lien exited Sep 30, 2024 | at least $498,721 | 100c | S+350 bp | Nov 10, 2028 | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2025 | 3 | $38.2M | $38.3M | 100c | 0 |
| Jun 30, 2025 | 3 | $20.9M | $20.9M | 100c | 0 |
| Mar 31, 2025 | 3 | $20.0M | $19.9M | 100c | 0 |
| Dec 31, 2024 | 2 | $25.8M | $26.0M | 101c | 0 |
All 14 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2024 | 2 | $13.0M | $13.0M | 101c | 0 |
| Jun 30, 2024 | 1 | $12.5M | $12.5M | 101c | 0 |
| Mar 31, 2024 | 1 | $12.5M | $12.5M | 100c | 0 |
| Dec 31, 2023 | 1 | $17.5M | $17.3M | 100c | 0 |
| Sep 30, 2023 | 1 | $12.6M | $12.5M | 100c | 0 |
| Jun 30, 2023 | 1 | $12.6M | $12.4M | 99c | 0 |
| Mar 31, 2023 | 1 | $7.7M | $7.4M | 97c | 0 |
| Dec 31, 2022 | 1 | $12.7M | $12.1M | 96c | 0 |
| Sep 30, 2022 | 1 | $7.7M | $7.2M | 94c | 0 |
| Dec 31, 2021 | 1 | $7.8M | $7.7M | 100c | 0 |
What changed
- Facility left every BDC scheduleSep 30, 2025
- Facility left every BDC scheduleSep 30, 2025
- New lender joined a facilityMar 31, 2025
- Maturity extended (observed)Mar 31, 2025
- New lender joined a facilityMar 31, 2025
Full timeline · 9 eventsShow fewer
- Maturity extended (observed)Mar 31, 2025
- Facility left every BDC scheduleSep 30, 2024
- Marked down (one lender)Sep 30, 2022
- New borrower on a BDC scheduleDec 31, 2021
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- C• I••••••••• I•derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 6 BDCsderived