DFX Intelligence
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Borrower
P•• H••••••• I••• L••
Also written as: Park Place Technologies
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
101¢ · 101¢ · 102¢ · 102¢ · 103¢Q3 2024 to Q3 2025
Where each lender marks it on the first lien term loan, 1 point apart
102¢103¢
Principal held
at least $50.2M
sum of BDC pieces, a lower bound
Fair value
$50.5M
103c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
6
5 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Mar 1, 2034
no dated debt inside 24 months
On the tape since
Mar 31, 2024
latest Sep 30, 2025
Events
3
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 |
|---|---|---|---|
| B••• O•• C••••• I••••• C•••• | $33.4M | 102¢ | 0 pts |
| B••••••••• P•••••• C••••• F••• | $9.41M | 104¢ | +3 pts |
| B••• O•• C•••••• C••• | $4.55M | 103¢ | 0 pts |
| B••••••••• S•••••• L•••••• F••• | $1.95M | 104¢ | +3 pts |
| B••• O•• C•••••• C••• I• | $910K | 102¢ | 0 pts |
Every BDC piece · 5 positions across 5 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••• O•• C••••• I••••• C•••• | term loan first lien F•••• lien senior secured loan | $33.4M | $33.4M 102c | PIK 12.75% |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $9.4M | $9.6M 104c | S+1275 bp PIK 12.75% |
| B••• O•• C•••••• C••• | term loan first lien F•••• lien senior secured loan | $4.5M | $4.5M 103c | PIK 12.75% |
| B••••••••• S•••••• L•••••• F••• | unstated lien unstated | $2.0M | $2.0M 104c | S+1275 bp PIK 12.75% |
| B••• O•• C•••••• C••• I• | term loan first lien F•••• lien senior secured loan | $910,000 | $910,000 102c | PIK 12.75% |
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 $38.8M | 102c | PIK 12.75% | Mar 1, 2034 | 3 |
| other lien unstated exited Sep 30, 2025 | at least $11.4M | 104c | S+1275 bp PIK 12.75% | Mar 27, 2034 | 2 |
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 | 5 | $50.2M | $50.5M | 103c | 5 |
| Jun 30, 2025 | 5 | $48.6M | $48.5M | 102c | 5 |
| Mar 31, 2025 | 5 | $47.1M | $46.8M | 102c | 5 |
| Dec 31, 2024 | 5 | $84.6M | $83.7M | 101c | 10 |
All 7 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2024 | 6 | $44.2M | $43.8M | 101c | 6 |
| Jun 30, 2024 | 6 | $42.8M | $41.9M | 100c | 6 |
| Mar 31, 2024 | 6 | $41.4M | $40.3M | 100c | 6 |
What changed
- Facility left every BDC scheduleSep 30, 2025
- Facility left every BDC scheduleSep 30, 2025
- New borrower on a BDC scheduleMar 31, 2024
Sponsor
Possible relationship, not established: W••••••• C•••••• M••••••••• L••, because a company of this name is on the sponsor's portfolio page (confidence 0.6). No deal announcement or filing names it as a party, so it is not shown as this borrower’s sponsor.
- W••••••• C•••••• M••••••••• L••
- the sponsor's own portfolio page lists a company of this nameestimatedwvcapital.com"••• Locked"
- W•••••• P••••• L••
- the sponsor's own portfolio page lists a company of this nameestimatedwarburgpincus.com"••• Locked"
Identity
- Group key
- PPT HOLDING IIIderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 6 BDCsderived