DFX Intelligence
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Borrower
H••••• D••••••• O•••••••• C•••••• I••
group grade Aon a schedule nowsponsor unattributed
Also written as: Inc Emerald JV LP
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
101¢ · 101¢ · 101¢ · 100¢ · 101¢Q4 2023 to Q4 2025
Principal held
unknown
sum of BDC pieces, a lower bound
Fair value
Not disclosed
n/a on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
4
0 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
unstated
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest May 31, 2026
Events
3
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| S••••• C•••• C•••••• C••• | $750K | 101¢ | +1 pts |
Every BDC piece · 1 position across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| S••••• C•••• C•••••• C••• | term loan first lien F•••• L••• - T••• L••• | $750,000 | $756,000 101c | S+175 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Dec 31, 2025 | at least $750,000 | 101c | S+175 bp | Nov 8, 2030 | 1 |
| other lien unstated exited Dec 31, 2022 | at least $400,000 | 97c | S+375 bp | May 1, 2029 | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2025 | 1 | $750,000 | $756,000 | 101c | 0 |
| Sep 30, 2025 | 1 | $750,000 | $752,000 | 100c | 0 |
| Jun 30, 2025 | 1 | $750,000 | $753,000 | 101c | 0 |
| Dec 31, 2024 | 1 | $750,000 | $755,000 | 101c | 0 |
All 6 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2023 | 1 | $3.5M | $3.5M | 101c | 0 |
| Dec 31, 2022 | 1 | $400,000 | $347,000 | 97c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2025
- New borrower on a BDC scheduleDec 31, 2022
- Facility left every BDC scheduleDec 31, 2022
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- H••••• D••••••• O••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 4 BDCsderived