DFX Intelligence
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Borrower
A•••• I••••••• A•• A•••• B••••• L••
IT Servicesgroup grade Aon a schedule nowsponsor unattributed
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 100¢ · 100¢ · 98¢ · 97¢Q2 2025 to Q2 2026
Principal held
at least $18.5M
sum of BDC pieces, a lower bound
Fair value
$17.4M
95c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
3
1 equity pieces beside them
Next maturity
Oct 2, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2023
latest Jun 30, 2026
Events
4
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•• | $18.5M | 97¢ | -1 pts |
Every BDC piece · 4 positions across 1 lenderlargest 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+500, 1.00% F•••• M•••• | $14.5M | $14.0M 98c | SOFR+500 bp |
| A••••• D••• S•••••••• B•• | delayed draw term loan first lien Investment T••• F•••• L••• S•••••• D••• - D•••••• D••• I••••••• R••• S+500, 1.00% F•••• M• | $2.6M | $2.6M 98c | SOFR+500 bp |
| A••••• D••• S•••••••• B•• | revolver first lien Investment T••• F•••• L••• S•••••• D••• - R••••••• I••••••• R••• S+500, 1.00% F•••• M••••• | $1.4M | $1.1M 88c | SOFR+500 bp |
| A••••• D••• S•••••••• B•• | delayed draw term loan first lien Investment T••• F•••• L••• S•••••• D••• - D•••••• D••• I••••••• R••• S+475, 1.00% F•••• M• | Not disclosed | $-337,000 963c | SOFR+475 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 $14.5M | 98c | SOFR+500 bp | Oct 2, 2029 | 1 |
| first lien delayed draw term loan first lien | at least $2.6M | 86c | SOFR+500 bp | Oct 2, 2029 | 1 |
| first lien revolver first lien | at least $1.4M | 88c | SOFR+500 bp | Oct 2, 2029 | 1 |
Equity pieces beside the debt: other ($7.3M fair value, 1 BDC)
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 | 1 | $18.5M | $17.4M | 95c | 0 |
| Mar 31, 2026 | 1 | $17.2M | $16.1M | 95c | 0 |
| Dec 31, 2025 | 1 | $17.2M | $16.9M | 100c | 0 |
| Sep 30, 2025 | 1 | $17.3M | $17.0M | 100c | 0 |
All 11 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 1 | $11.5M | $11.3M | 100c | 0 |
| Mar 31, 2025 | 1 | $7.5M | $7.3M | 101c | 0 |
| Dec 31, 2024 | 1 | $15.0M | $14.7M | 101c | 0 |
| Sep 30, 2024 | 1 | $7.5M | $7.4M | 101c | 0 |
| Jun 30, 2024 | 1 | $7.4M | $7.3M | 101c | 0 |
| Mar 31, 2024 | 1 | $10.0M | $7.2M | 101c | 0 |
| Dec 31, 2023 | 1 | $10.0M | $6.0M | 100c | 0 |
What changed
- Marked down across lendersMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Sep 30, 2024
- Spread changed (observed)Jun 30, 2024
- Spread changed (observed)Jun 30, 2024
Full timeline · 6 eventsShow fewer
- New borrower on a BDC scheduleDec 31, 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
- AVENU INSIGHTS ACP AVENUderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- IT Servicesreportedas one filer wrote it