DFX Intelligence
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Borrower
P•••••• I••••••••• I••
Life Sciences Tools & Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: Emerald JV LP; Inc. Asset Type; P••••••; P••••••; Verdelite JV LP; Wilmington
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 100¢ · 101¢ · 100¢ · 100¢Q2 2025 to Q2 2026
Where each lender marks it, 1 points apart
100¢101¢
Principal held
at least $163M
sum of BDC pieces, a lower bound
Fair value
$163M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
16
11 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Dec 1, 2031
no dated debt inside 24 months
On the tape since
Dec 31, 2022
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 |
|---|---|---|---|
| A••••• D••• S•••••••• B•• | $58M | 100¢ | 0 pts |
| A••• S•••••••• I••••• F••• | $50.4M | 100¢ | 0 pts |
| B••••••••• P•••••• C••••• F••• | $23.6M | 100¢ | 0 pts |
| H•• C•••••••• L•••••• F••• | $16.5M | 101¢ | +1 pts |
| N•••• H•••• P•••••• I••••• F••• L•• | $6.46M | 100¢ | +1 pts |
View all 11 lendersShow fewerlargest exposure first
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| H•• C•••••••• C•••••• S•••••••• F••• | $2.49M | 100¢ | 0 pts |
| B•••••••• P•••••• C••••• F••• | $2.24M | 100¢ | +1 pts |
| L••• P•••••• C••••• L•• | $937K | 100¢ | +1 pts |
| C••••••• P•••••• C••••• I••••• C••• | $883K | 100¢ | 0 pts |
| A•••••• S•••••••• C••••• F••• | $782K | 100¢ | 0 pts |
| B•••••• P•••••• C••••• C••• | $498K | 100¢ | 0 pts |
Every BDC piece · 13 positions across 11 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••••• D••• S•••••••• B•• | term loan first lien Investment T••• F•••• L••• S•••••• D••• - T••• L••• I••••••• R••• S+250, 0.50% F•••• M•••• | $58.0M | $58.1M 100c | SOFR+250 bp |
| A••• S•••••••• I••••• F••• | term loan first lien F•••• lien senior secured loan | $50.4M | $50.4M 100c | S+250 bp |
| H•• C•••••••• L•••••• F••• | unstated lien unstated N••••••••• I••••• | $16.5M | $16.5M 101c | S+250 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $15.4M | $15.5M 100c | S+250 bp |
| N•••• H•••• P•••••• I••••• F••• L•• | term loan first lien Investment F•••• L••• D••• R•••••••• R••• & S••••• S +2.50% I••••••• R••• 6.14% M••••••• D | $6.5M | $6.5M 100c | SOFR+250 bp |
View all 13 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | unstated lien unstated N••••••••• I••••• | $5.3M | $5.3M 100c | S+250 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $2.8M | $2.8M 100c | S+250 bp |
| H•• C•••••••• C•••••• S•••••••• F••• | unstated lien unstated N••••••••• I••••• | $2.5M | $2.5M 100c | S+250 bp |
| B•••••••• P•••••• C••••• F••• | term loan first lien I••••••••• F•••• L••• T••• L••• Ref S•••(M) S••••• 2.50% T•••• C••••• 6.14% M••••••• 12/09 | $2.2M | $2.2M 100c | SOFR+250 bp |
| L••• P•••••• C••••• L•• | term loan first lien F•••• L••• D••• R•••••••• R••• and S••••• S + 2.50% I••••••• R••• 6.14% M••••••• D••• 12/1 | $937,000 | $937,000 100c | SOFR+250 bp |
| C••••••• P•••••• C••••• I••••• C••• | term loan first lien Investment T••• S••••• S•••••• F•••• L••• T••• L••• I••••••• T••• S + 250, 50 F•••• I••••• | $883,000 | $884,000 100c | SOFR+250 bp |
| A•••••• S•••••••• C••••• F••• | term loan first lien Asset T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 2.50% I••••••• R••• 6.16% M• | $782,000 | $783,000 100c | SOFR+250 bp |
| B•••••• P•••••• C••••• C••• | term loan first lien F•••• L••• S••••• S•••••• T••• L••• | $498,000 | $498,000 100c | S+250 bp |
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 $120M | 100c | SOFR+250 bp | Dec 31, 2031 | 8 |
| other lien unstated | at least $42.6M | 100c | S+250 bp | Dec 12, 2031 | 3 |
| second lien term loan second lien exited Mar 31, 2023 | at least $140M | 100c | S+650 bp | Nov 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 |
|---|---|---|---|---|---|
| Jun 30, 2026 | 11 | $163M | $163M | 100c | 0 |
| Mar 31, 2026 | 11 | $160M | $159M | 100c | 0 |
| Dec 31, 2025 | 9 | $184M | $184M | 101c | 0 |
| Sep 30, 2025 | 5 | $92.1M | $92.2M | 100c | 0 |
All 15 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 5 | $75.4M | $75.5M | 100c | 0 |
| Mar 31, 2025 | 5 | $72.4M | $72.3M | 100c | 0 |
| Dec 31, 2024 | 6 | $64.9M | $65.4M | 100c | 0 |
| Sep 30, 2024 | 7 | $21.3M | $21.3M | 100c | 0 |
| Jun 30, 2024 | 5 | $12.9M | $12.9M | 100c | 0 |
| Mar 31, 2024 | 3 | $8.2M | $8.2M | 100c | 0 |
| Dec 31, 2023 | 3 | $8.2M | $8.2M | 101c | 0 |
| Sep 30, 2023 | 2 | $7.2M | $7.2M | 99c | 0 |
| Jun 30, 2023 | 2 | $7.2M | $7.2M | 99c | 0 |
| Mar 31, 2023 | 3 | $167M | $165M | 100c | 0 |
| Dec 31, 2022 | 5 | $288M | $282M | 99c | 0 |
What changed
- New lender joined a facilityMar 31, 2026
- New lender joined a facilityMar 31, 2026
- Maturity extended (observed)Dec 31, 2025
- New lender joined a facilityDec 31, 2025
- New lender joined a facilityDec 31, 2025
Full timeline · 21 eventsShow fewer
- New lender joined a facilityDec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Lender left a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- New lender joined a facilitySep 30, 2024
- New lender joined a facilitySep 30, 2024
- Lender left a facilitySep 30, 2024
- New lender joined a facilityJun 30, 2024
- New lender joined a facilityJun 30, 2024
- Facility left every BDC scheduleMar 31, 2023
- Lender left a facilityMar 31, 2023
- New borrower on a 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
- PAREXELderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 16 BDCsderived
- Industry
- Life Sciences Tools & Servicesreportedas one filer wrote it