DFX Intelligence
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Borrower
T•• E•••••• F•••••••• E•••••• C•••••• L••
Financial Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: Emerald JV LP; LLC 1 Emerald JV LP; LLC 2024 Refinancing; LLC2; 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¢ · 100¢ · 101¢Q2 2025 to Q2 2026
Where each lender marks it on the first lien term loan, 1 point apart
100¢101¢
Principal held
at least $31.3M
sum of BDC pieces, a lower bound
Fair value
$40.4M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
9
5 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Nov 28, 2031
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
3
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••• | $14.2M | 101¢ | +1 pts |
| P••••• S••••• C•••••• B•• I••• | $8M | 101¢ | +2 pts |
| F••••••• B•• C•••••• C••• | $4.75M | 100¢ | new this quarter |
| S•••• P•••• C••••• I••••• F••• | $4.34M | 101¢ | 0 pts |
| F••••••• P•••••• L•••••• F••• | $9K | 100¢ | 0 pts |
Every BDC piece · 6 positions across 5 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | unstated lien unstated N••••••••• I••••• | $10.4M | $10.4M 101c | S+400 bp |
| P••••• S••••• C•••••• B•• I••• | term loan first lien Investment F•••• L••• S••••• S•••••• L••• I••••••• R••• 7.64% (S + 4.00%) M••••••• D••• 12 | $8.0M | $8.0M 101c | SOFR+400 bp |
| F••••••• B•• C•••••• C••• | unstated lien unstated | $4.8M | $4.8M 100c | S+400 bp |
| S•••• P•••• C••••• I••••• F••• | term loan first lien F•••• L••• T••• L••• | $4.3M | $4.4M 101c | S+400 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $3.8M | $3.8M 101c | S+400 bp |
View all 6 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| F••••••• P•••••• L•••••• F••• | term loan first lien Investment F•••• L••• - T••• L••• R•••••••• R••• and S••••• S•••+400 I••••••• R••• 7.7% M• | $9,000 | $9.0M 100c | SOFR+400 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 $18.9M | 101c | S+400 bp | Dec 1, 2031 | 2 |
| first lien term loan first lien | at least $12.3M | 101c | SOFR+400 bp | Dec 1, 2031 | 3 |
| second lien term loan second lien exited Mar 31, 2026 | at least $18.7M | 100c | SOFR+525 bp | Oct 20, 2028 | 4 |
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 | 5 | $31.3M | $40.4M | 101c | 0 |
| Mar 31, 2026 | 6 | $66.5M | $66.4M | 100c | 0 |
| Dec 31, 2025 | 6 | $85.7M | $86.1M | 101c | 0 |
| Sep 30, 2025 | 6 | $63.7M | $63.8M | 100c | 0 |
All 17 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 5 | $56.3M | $56.5M | 100c | 0 |
| Mar 31, 2025 | 4 | $57.8M | $57.8M | 100c | 0 |
| Dec 31, 2024 | 4 | $102M | $103M | 101c | 0 |
| Sep 30, 2024 | 4 | $69.0M | $69.0M | 100c | 0 |
| Jun 30, 2024 | 3 | $57.9M | $58.1M | 100c | 0 |
| Mar 31, 2024 | 1 | $44.7M | $44.8M | 101c | 0 |
| Dec 31, 2023 | 1 | $62.5M | $62.6M | 101c | 0 |
| Sep 30, 2023 | 1 | $43.9M | $43.6M | 100c | 0 |
| Jun 30, 2023 | 1 | $43.9M | $42.8M | 99c | 0 |
| Mar 31, 2023 | 1 | $32.6M | $31.1M | 96c | 0 |
| Dec 31, 2022 | 1 | $68.3M | $63.5M | 94c | 0 |
| Sep 30, 2022 | 1 | $69.5M | $63.6M | 92c | 0 |
| Dec 31, 2021 | 1 | $19.9M | $19.9M | 100c | 0 |
What changed
- Maturity extended (observed)Jun 30, 2026
- Spread changed (observed)Jun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- Spread increasedJun 30, 2026
Full timeline · 15 eventsShow fewer
- Spread increasedJun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Facility left every BDC scheduleMar 31, 2026
- New lender joined a facilitySep 30, 2025
- New lender joined a facilityJun 30, 2025
- Spread increasedJun 30, 2025
- New lender joined a facilitySep 30, 2024
- Marked down (one lender)Sep 30, 2022
- Spread increasedSep 30, 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
- EDELMAN FINANCIAL ENGINES CENTERderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 9 BDCsderived
- Industry
- Financial Servicesreportedas one filer wrote it