DFX Intelligence
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Borrower
K••••••• I••••••••• H••••••• I• I••
Softwaregroup grade Aon a schedule nowsponsor unattributed
Also written as: Inc. - Perpetual; Inc. - Perpetual Preferred Stock; Kaseya; K••••••• I••••••••• H••••••• I•nc
Principal held
unknown
sum of BDC pieces, a lower bound
Fair value
$164M
n/a on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
16
13 on the latest quarter
Facilities
4
1 equity pieces beside them
Next maturity
unstated
no dated debt inside 24 months
On the tape since
Sep 30, 2022
latest Jun 30, 2026
Events
5
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 exited Mar 31, 2023 | at least $66.9M | 102c | S+575 bp | Jun 1, 2029 | 1 |
| first lien revolver first lien exited Mar 31, 2023 | at least $0 | n/a | S+575 bp | Jun 1, 2029 | 1 |
| first lien delayed draw term loan first lien exited Mar 31, 2023 | at least $0 | n/a | S+575 bp | Jun 1, 2024 | 1 |
| other lien unstated exited Jun 30, 2025 | unknown | 107c | S+1175 bp | unstated | 3 |
Equity pieces beside the debt: preferred equity ($164M fair value, 16 BDCs)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A• P•••••• C••••• I•••••••• C••• | preferred equity equity U.S. P•••••••• S•••• | P•••••••• P•••••••• S•••• | 6/23/2022 | n/a | $1.1M 150c | |
| B••••••••• P•••••• C••••• F••• | preferred equity equity P•••••••• S•••• | N••••••••• I••••• | n/a | $27.2M 104c | S+1075 bp |
| B••• O•• C•••••• C••• | preferred equity equity P•••••••• P•••••••• S•••• | N••••••••• | n/a | $10.8M 58c | PIK 10.75% |
| B••• O•• C•••••• C••• I• | preferred equity equity P•••••••• P•••••••• S•••• | Non A••••••••• | n/a | $217,000 58c | PIK 10.75% |
| B••• O•• C••••• I••••• C•••• | preferred equity equity P•••••••• P•••••••• S•••• | N••••••••• I••••• | n/a | $29.0M 58c | PIK 10.75% |
| B••• O•• T••••••••• F•••••• C•••• | preferred equity equity P•••••••• P•••••••• S•••• | N••••••••• I••••• | n/a | $37.9M 57c | PIK 10.75% |
| B••• O•• T••••••••• I••••• C•••• | preferred equity equity P•••••••• P•••••••• S•••• | n/a | $27.1M 58c | PIK 10.75% |
| M••••• S•••••• D••••• L•••••• F••• | preferred equity equity Investment P•••••••• Equity R•••••••• R••• and S••••• S + 10.75% PIK A••••••••• D••• 06/25 | n/a | $2.9M 87c | |
| N•• M••••••• F•••••• C••• | preferred equity equity P•••••••• shares | $14.3M | n/a | |
| N•• M••••••• F•••••• C••• | preferred equity equity P•••••••• S••••• | n/a | $9.3M 65c | 14.60% PIK 10.75% |
| N•• M••••••• G••••••• I• B••• L••••• | preferred equity equity P•••••••• shares | $743,000 | $484,000 65c | 14.60% PIK 10.75% |
| N•• M••••••• P•••••• C••••• F••• | preferred equity equity P•••••••• S••••• | N••••••••• I••••• | $8.5M | $5.6M 65c | 14.35% PIK 10.75% |
| N•• M••••••• P•••••• C••••• F••• | preferred equity equity P•••••••• shares | N••••••••• I••••• | $8.5M | n/a | |
| N•••• H•••• P•••••• I••••• F••• L•• | preferred equity equity Investment P•••••••• Equity R•••••••• R••• and S••••• S+ 10.75% PIK A••••••••• D••• 06/25/ | n/a | $10.2M 87c | |
| T• S••••• B•• L•• | preferred equity equity P•••••••• Equity R•••••••• R••• and S••••• S+ 10.75% PIK A••••••••• D••• 06/25/2022 | n/a | $2.1M 87c |
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 | 13 | $0 | $0 | n/a | 0 |
| Mar 31, 2026 | 13 | $0 | $0 | n/a | 0 |
| Dec 31, 2025 | 13 | $0 | $0 | n/a | 0 |
| Sep 30, 2025 | 13 | $0 | $0 | n/a | 0 |
| Jun 30, 2025 | 13 | $0 | $0 | n/a | 0 |
| Mar 31, 2025 | 13 | $0 | $0 | n/a | 0 |
| Dec 31, 2024 | 14 | $0 | $0 | n/a | 0 |
| Sep 30, 2024 | 15 | $0 | $0 | n/a | 0 |
| Jun 30, 2024 | 14 | $0 | $0 | n/a | 0 |
| Mar 31, 2024 | 14 | $0 | $0 | n/a | 0 |
| Dec 31, 2023 | 15 | $0 | $0 | n/a | 0 |
| Sep 30, 2023 | 13 | $14,820 | $16.7M | 102c | 0 |
| Jun 30, 2023 | 13 | $2,790 | $3.0M | 99c | 0 |
| Mar 31, 2023 | 13 | $66.9M | $66.7M | 102c | 0 |
| Dec 31, 2022 | 14 | $66.9M | $66.2M | 101c | 0 |
| Sep 30, 2022 | 2 | $0 | $0 | n/a | 0 |
What changed
- Lender left a facilityJun 30, 2025
- Lender left a facilityJun 30, 2025
- Facility left every BDC scheduleJun 30, 2025
- Lender left a facilityMar 31, 2024
- Facility left every BDC scheduleMar 31, 2023
- Facility left every BDC scheduleMar 31, 2023
- Facility left every BDC scheduleMar 31, 2023
- New borrower on a BDC scheduleSep 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
- KNOCKOUTderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 16 BDCsderived
- Industry
- Softwarereportedas one filer wrote it