DFX Intelligence
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Borrower
J•••••••• S•••••• L••
Distributorsgroup grade Aon a schedule nowsponsor unattributed
Also written as: Emerald JV LP; LLC 1; LLC 2; LLC Asset Type; Verdelite JV LP
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 100¢ · 101¢ · 99¢ · 100¢Q2 2025 to Q2 2026
Where each lender marks it, 0 points apart
100¢100¢
Principal held
at least $17.0M
sum of BDC pieces, a lower bound
Fair value
$17.0M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
8
3 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Jun 9, 2031
no dated debt inside 24 months
On the tape since
Jun 30, 2024
latest Jun 30, 2026
Events
1
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | $12.5M | 100¢ | +1 pts |
| A•••••• S•••••••• C••••• F••• | $2.87M | 100¢ | +1 pts |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | $1.65M | 100¢ | +1 pts |
Every BDC piece · 4 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $11.2M | $11.2M 100c | S+225 bp |
| A•••••• S•••••••• C••••• F••• | term loan first lien Asset T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 2.25% I••••••• R••• 5.91% M• | $2.9M | $2.9M 100c | SOFR+225 bp |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | term loan first lien F•••• L••• D••• | $1.6M | $1.6M 100c | S+225 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $1.3M | $1.3M 100c | S+225 bp |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated | at least $12.5M | 100c | S+225 bp | Jun 9, 2031 | 1 |
| first lien term loan first lien | at least $4.5M | 100c | SOFR+225 bp | Jun 9, 2031 | 2 |
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 | 3 | $17.0M | $17.0M | 100c | 0 |
| Mar 31, 2026 | 4 | $21.0M | $20.9M | 99c | 0 |
| Dec 31, 2025 | 6 | $45.5M | $45.8M | 101c | 0 |
| Sep 30, 2025 | 7 | $52.6M | $52.5M | 100c | 0 |
All 9 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 7 | $55.7M | $55.8M | 100c | 0 |
| Mar 31, 2025 | 7 | $53.0M | $52.6M | 99c | 0 |
| Dec 31, 2024 | 8 | $94.2M | $94.6M | 100c | 0 |
| Sep 30, 2024 | 8 | $27.5M | $27.5M | 100c | 0 |
| Jun 30, 2024 | 8 | $22.6M | $22.6M | 100c | 0 |
What changed
- Lender left a facilityMar 31, 2026
- Lender left a facilityDec 31, 2025
- Lender left a facilityDec 31, 2025
- Lender left a facilitySep 30, 2025
- Lender left a facilityDec 31, 2024
Full timeline · 8 eventsShow fewer
- New lender joined a facilityDec 31, 2024
- Lender left a facilityDec 31, 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
- J•••••••• S•••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 8 BDCsderived
- Industry
- Distributorsreportedas one filer wrote it