DFX Intelligence
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Borrower
e••••••••• I••
group grade Aon a schedule nowsponsor unattributed
Also written as: Astorg VII Co-Invest ERT; Clario; e Research Technology, Inc; eResearch Technology, Inc; First Drawn; First lien; First lien - Drawn; First Lien - Undrawn
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 101¢ · 101¢Q2 2025 to Q4 2025
Principal held
unknown
sum of BDC pieces, a lower bound
Fair value
$500,000
n/a on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
19
1 on the latest quarter
Facilities
7
1 equity pieces beside them
Next maturity
unstated
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
15
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
Every BDC piece · 1 position across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••• C•••••• C••• | equity equity L•••••• partnership interest | Not disclosed | $500,000 |
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 Dec 31, 2025 | at least $1.2B | 101c | SOFR+475 bp | Jan 20, 2032 | 13 |
| other lien unstated exited Dec 31, 2025 | at least $1.2B | 101c | S+475 bp | Jan 19, 2032 | 4 |
| second lien term loan second lien exited Dec 31, 2024 | at least $66.7M | 102c | S+800 bp | Feb 1, 2028 | 2 |
| first lien revolver first lien exited Mar 31, 2026 | unknown | n/a | unstated | 1 | |
| revolver lien unstated exited Dec 31, 2025 | unknown | n/a | S+475 bp | unstated | 2 |
All 7 facilitiesShow fewerheld first, largest first
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien delayed draw term loan first lien exited Mar 31, 2026 | unknown | n/a | unstated | 1 | |
| delayed draw term loan lien unstated exited Dec 31, 2025 | unknown | n/a | S+475 bp | unstated | 2 |
Equity pieces beside the debt: equity ($500,000 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 | $0 | $0 | n/a | 0 |
| Mar 31, 2026 | 2 | $0 | $0 | n/a | 0 |
| Dec 31, 2025 | 15 | $2.4B | $2.3B | 101c | 0 |
| Sep 30, 2025 | 15 | $2.2B | $2.1B | 101c | 0 |
All 17 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 15 | $2.2B | $2.1B | 100c | 0 |
| Mar 31, 2025 | 15 | $1.9B | $1.8B | 100c | 0 |
| Dec 31, 2024 | 4 | $159M | $159M | 102c | 0 |
| Sep 30, 2024 | 4 | $135M | $135M | 102c | 0 |
| Jun 30, 2024 | 4 | $116M | $117M | 103c | 0 |
| Mar 31, 2024 | 4 | $107M | $108M | 103c | 0 |
| Dec 31, 2023 | 4 | $84.6M | $84.5M | 103c | 0 |
| Sep 30, 2023 | 3 | $56.1M | $55.0M | 100c | 0 |
| Jun 30, 2023 | 3 | $56.1M | $53.4M | 97c | 0 |
| Mar 31, 2023 | 5 | $84.6M | $79.7M | 141c | 0 |
| Dec 31, 2022 | 5 | $105M | $93.6M | 90c | 0 |
| Sep 30, 2022 | 2 | $84.1M | $79.4M | 96c | 0 |
| Dec 31, 2021 | 2 | $81.2M | $81.2M | 102c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2026
- Facility left every BDC scheduleMar 31, 2026
- Facility left every BDC scheduleDec 31, 2025
- Facility left every BDC scheduleDec 31, 2025
- Facility left every BDC scheduleDec 31, 2025
Full timeline · 30 eventsShow fewer
- Facility left every BDC scheduleDec 31, 2025
- Maturity extended (observed)Mar 31, 2025
- Spread changed (observed)Mar 31, 2025
- New lender joined a facilityMar 31, 2025
- New lender joined a facilityMar 31, 2025
- New lender joined a facilityMar 31, 2025
- New lender joined a facilityMar 31, 2025
- New lender joined a facilityMar 31, 2025
- New lender joined a facilityMar 31, 2025
- New lender joined a facilityMar 31, 2025
- New lender joined a facilityMar 31, 2025
- New lender joined a facilityMar 31, 2025
- New lender joined a facilityMar 31, 2025
- Spread increasedMar 31, 2025
- Spread increasedMar 31, 2025
- Spread increasedMar 31, 2025
- New lender joined a facilityMar 31, 2025
- Maturity extended (observed)Mar 31, 2025
- Maturity extended (observed)Mar 31, 2025
- Maturity extended (observed)Mar 31, 2025
- New lender joined a facilityMar 31, 2025
- New lender joined a facilityMar 31, 2025
- New lender joined a facilityMar 31, 2025
- New lender joined a facilityMar 31, 2025
- New lender joined a facilityMar 31, 2025
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- ERESEARCHTECHNOLOGYderivedthe codename stem after legal suffixes and deal words
- Spellings
- 3 across 19 BDCsderived