DFX Intelligence
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Borrower
L•••• T•••••• B••••• I••
group grade Aon a schedule nowsponsor unattributed
Also written as: Emerald JV LP; Inc. First and; Verdelite JV LP
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 100¢ · 100¢ · 100¢ · 100¢Q2 2025 to Q2 2026
Where each lender marks it, 0 points apart
100¢100¢
Principal held
at least $7.5M
sum of BDC pieces, a lower bound
Fair value
$7.5M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
4
2 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Jun 1, 2030
no dated debt inside 24 months
On the tape since
Jun 30, 2023
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••• | $4.39M | 100¢ | 0 pts |
| G•••• C•••••• P•••••• C••••• F••• | $3.12M | 100¢ | new this quarter |
Every BDC piece · 4 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| G•••• C•••••• P•••••• C••••• F••• | term loan first lien S••••• secured | $3.1M | $3.1M 100c | S+250 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $2.2M | $2.2M 100c | S+250 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $1.2M | $1.2M 100c | S+250 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated N••••••••• I••••• | $1.0M | $1.0M 100c | S+250 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 $4.4M | 100c | S+250 bp | Jun 14, 2030 | 1 |
| first lien term loan first lien | at least $3.1M | 100c | S+250 bp | Jun 1, 2030 | 1 |
| second lien term loan second lien exited Sep 30, 2023 | at least $2.0M | 101c | S+450 bp | Jun 14, 2030 | 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 | 2 | $7.5M | $7.5M | 100c | 0 |
| Mar 31, 2026 | 1 | $4.5M | $4.5M | 100c | 0 |
| Dec 31, 2025 | 2 | $19.6M | $19.7M | 100c | 0 |
| Sep 30, 2025 | 2 | $19.6M | $19.6M | 100c | 0 |
All 13 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 2 | $15.4M | $15.5M | 100c | 0 |
| Mar 31, 2025 | 2 | $13.5M | $13.4M | 99c | 0 |
| Dec 31, 2024 | 2 | $10.2M | $10.3M | 101c | 0 |
| Sep 30, 2024 | 2 | $4.4M | $4.4M | 100c | 0 |
| Jun 30, 2024 | 1 | $3.4M | $3.4M | 101c | 0 |
| Mar 31, 2024 | 1 | $3.4M | $3.4M | 101c | 0 |
| Dec 31, 2023 | 1 | $5.7M | $5.7M | 101c | 0 |
| Sep 30, 2023 | 2 | $4.0M | $3.9M | 101c | 0 |
| Jun 30, 2023 | 2 | $4.0M | $4.0M | 101c | 0 |
What changed
- Spread changed (observed)Dec 31, 2024
- Facility left every BDC scheduleSep 30, 2023
- New borrower on a BDC scheduleJun 30, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- L•••• TRINITYderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 4 BDCsderived