DFX Intelligence
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Borrower
T•• C••• L••
group grade Aoff every schedule since Dec 31, 2025sponsor unattributed
Also written as: Emerald JV LP; Verdelite JV LP
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
96¢ · 99¢ · 100¢ · 100¢ · 100¢Q1 2024 to Q4 2025
Principal held
at least $45.5M
sum of BDC pieces, a lower bound
Fair value
$45.7M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
1 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
Dec 8, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Dec 31, 2025
Events
2
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | $45.5M | 100¢ | 0 pts |
Every BDC piece · 3 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | unstated lien unstated N••••••••• I••••• | $26.5M | $26.6M 100c | S+300 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $13.5M | $13.5M 100c | S+300 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $5.4M | $5.5M 100c | S+300 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated exited Dec 31, 2025 | at least $45.5M | 100c | S+300 bp | Dec 8, 2028 | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2025 | 1 | $45.5M | $45.7M | 100c | 0 |
| Sep 30, 2025 | 1 | $45.6M | $45.7M | 100c | 0 |
| Jun 30, 2025 | 1 | $45.7M | $45.6M | 100c | 0 |
| Mar 31, 2025 | 1 | $19.1M | $18.9M | 99c | 0 |
All 11 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2024 | 1 | $7.0M | $6.7M | 96c | 0 |
| Dec 31, 2023 | 1 | $7.0M | $6.7M | 96c | 0 |
| Sep 30, 2023 | 1 | $7.0M | $6.7M | 96c | 0 |
| Jun 30, 2023 | 1 | $7.0M | $6.7M | 96c | 0 |
| Mar 31, 2023 | 1 | $7.0M | $6.7M | 97c | 0 |
| Dec 31, 2022 | 1 | $14.1M | $13.5M | 97c | 0 |
| Dec 31, 2021 | 1 | $7.0M | $7.0M | 100c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2025
- New borrower on a BDC scheduleDec 31, 2021
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- T•• C••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived