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
K•••• H••••• L••
Healthcare Providers & Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: & Klein Hersh, LLC
Principal held
at least $27.3M
sum of BDC pieces, a lower bound
Fair value
$38.2M
98c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
6
2 on the latest quarter
Facilities
5
1 equity pieces beside them
Next maturity
Apr 27, 2028
$22.9M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
26
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 $22.9M | 98c | S+800 bp | Apr 27, 2028 | 4 |
| unsecured or subordinated subordinated debt unsecured or subordinated | at least $4.4M | 87c | 0.00% | Apr 27, 2032 | 1 |
| term loan lien unstated exited Dec 31, 2021 | at least $86.6M | 102c | S+700 bp | Nov 13, 2025 | 1 |
| unsecured or subordinated notes unsecured or subordinated exited Sep 30, 2025 | at least $2.2M | n/a | Apr 27, 2032 | 1 | |
| revolver lien unstated exited Mar 31, 2023 | unknown | n/a | unstated | 1 |
Equity pieces beside the debt: warrants ($0 fair value, 1 BDC)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| C••• I••••••••• C••• | term loan first lien Senior Secured First Lien Debt | $22.9M | $21.7M 101c | S+800 bp |
| C••• I••••••••• C••• | subordinated debt unsecured or subordinated Unsecured Debt | $4.4M | $857,000 87c | 0.00% |
| S••• M••••••• L•••• M••••••••• C•••••• C••• | warrants equity Warrants and other equity securities Acquisition Date 4/27/2022 | n/a | $0 | |
| S••• M••••••• L•••• M••••••••• C•••••• C••• | term loan first lien First lien senior secured term loan Spread Above Index S + 0.79% - Interest Rate 4.52% - A | n/a | $15.7M 94c |
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 | 2 | $27.3M | $38.2M | 98c | 0 |
| Mar 31, 2026 | 2 | $27.4M | $36.7M | 94c | 0 |
| Dec 31, 2025 | 2 | $82.2M | $93.3M | 93c | 0 |
| Sep 30, 2025 | 3 | $29.7M | $36.7M | 95c | 0 |
| Jun 30, 2025 | 2 | $27.6M | $37.1M | 96c | 0 |
| Mar 31, 2025 | 2 | $45.1M | $36.9M | 96c | 0 |
| Dec 31, 2024 | 2 | $27.7M | $50.5M | 91c | 0 |
| Sep 30, 2024 | 2 | $45.1M | $35.8M | 94c | 0 |
| Jun 30, 2024 | 2 | $40.8M | $35.2M | 88c | 1 |
| Mar 31, 2024 | 2 | $39.6M | $34.0M | 87c | 1 |
| Dec 31, 2023 | 2 | $54.8M | $47.2M | 88c | 1 |
| Sep 30, 2023 | 3 | $37.5M | $35.3M | 96c | 1 |
| Jun 30, 2023 | 3 | $36.7M | $34.6M | 96c | 1 |
| Mar 31, 2023 | 3 | $35.5M | $33.6M | 96c | 1 |
| Dec 31, 2022 | 3 | $79.1M | $74.7M | 96c | 0 |
| Sep 30, 2022 | 2 | $19.8M | $19.8M | 100c | 0 |
| Jun 30, 2022 | 1 | $952,830 | $414,481 | 50c | 0 |
| Mar 31, 2022 | 1 | $23.8M | $24.3M | 104c | 0 |
| Dec 31, 2021 | 1 | $86.6M | $86.6M | 102c | 0 |
What changed
- Maturity approachingApr 27, 2028
- Mark recoveredJun 30, 2026
- Spread changed (observed)Mar 31, 2026
- Mark recoveredMar 31, 2026
- Marked down across lendersDec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Facility left every BDC scheduleSep 30, 2025
- Marked down (one lender)Sep 30, 2025
- Marked down (one lender)Jun 30, 2025
- Maturity extended (observed)Mar 31, 2025
- Spread changed (observed)Dec 31, 2024
- Spread changed (observed)Sep 30, 2024
- Maturity extended (observed)Sep 30, 2024
- Mark recoveredSep 30, 2024
- Maturity extended (observed)Sep 30, 2024
- Spread changed (observed)Jun 30, 2024
- Spread changed (observed)Mar 31, 2024
- Spread changed (observed)Dec 31, 2023
- Marked down across lendersDec 31, 2023
- Marked down (one lender)Dec 31, 2023
- Spread increasedDec 31, 2023
- Spread changed (observed)Sep 30, 2023
- Spread changed (observed)Jun 30, 2023
- Spread changed (observed)Mar 31, 2023
- PIK interest appearsMar 31, 2023
- PIK interest appearsMar 31, 2023
- Spread increasedMar 31, 2023
- Spread increasedMar 31, 2023
- Facility left every BDC scheduleMar 31, 2023
- Spread increasedDec 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
- KLEIN HERSHderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 6 BDCsderived
- Industry
- Healthcare Providers & Servicesreportedas one filer wrote it