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Borrower

M••• P••••••••• I••

group grade Aon a schedule nowsponsor unattributed
Also written as: Inc. Emerald JV LP
See every lender's markFind rescue capital
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Special situations PE firms

What matters now

  1. 98¢ → 90¢
    consensus mark

    Consensus mark 90¢ on cost, down from 98¢ a year ago, 90¢ last quarter.

    Q2 2026 · The lenders' own valuations, the most direct read of what they expect to recover.

    Derived2 of 2 lenders' own marks, weighted by principal
  2. $335M
    principal outstanding

    $335M principal held by 2 lenders; matures Dec 2027.

    Q2 2026 · Refinancing is due in 15 months at a 90¢ mark.

    FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
Mark path, consensus per quarter end
Q2 2025: 98¢Q3 2025: 96¢Q4 2025: 91¢Q1 2026: 90¢Q2 2026: 90¢98¢ · 96¢ · 91¢ · 90¢ · 90¢Q2 2025 to Q2 2026
Where each lender marks it, 0 points apart
90¢Consensus: 90¢B••••••••• P•••••• C••••• F•••: 90¢B••••••••• S•••••• L•••••• F•••: 90¢90¢
Principal held
at least $335M
sum of BDC pieces, a lower bound
Fair value
$300M
90c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
Dec 9, 2027
$335M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
2
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
LenderExposureCurrent markQoQ change
B••••••••• P•••••• C••••• F•••$193M90¢0 pts
B••••••••• S•••••• L•••••• F•••$142M90¢0 pts
Every BDC piece · 5 positions across 2 lenderslargest principal first, with instrument and rate
BDCInstrumentPrincipalFair valueRate
B••••••••• S•••••• L•••••• F•••unstated lien unstated
N••••••••• I•••••
$138M$124M
90c
S+625 bp
B••••••••• P•••••• C••••• F•••unstated lien unstated
N••••••••• I•••••
$135M$121M
90c
S+625 bp
B••••••••• P•••••• C••••• F•••unstated lien unstated$31.0M$27.7M
90c
S+625 bp
B••••••••• P•••••• C••••• F•••unstated lien unstated
N••••••••• I•••••
$27.1M$24.3M
90c
S+625 bp
B••••••••• S•••••• L•••••• F•••unstated lien unstated
N••••••••• I•••••
$3.9M$3.5M
90c
S+625 bp
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
FacilityHeldOn costPricingMaturityBDCs
other lien unstatedat least $335M90cS+625 bpDec 9, 20272
Through time
the borrower's pieces summed across BDCs, every quarter end
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20262$335M$300M90c0
Mar 31, 20262$335M$300M90c0
Dec 31, 20252$335M$305M91c0
Sep 30, 20252$335M$318M96c0
All 17 quarters
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20252$335M$325M98c0
Mar 31, 20252$338M$328M98c0
Dec 31, 20242$675M$655M98c0
Sep 30, 20242$338M$336M100c0
Jun 30, 20242$338M$338M101c0
Mar 31, 20242$347M$347M101c0
Dec 31, 20232$347M$347M101c0
Sep 30, 20232$347M$347M101c0
Jun 30, 20232$347M$347M101c0
Mar 31, 20232$380M$380M101c0
Dec 31, 20222$420M$420M101c0
Sep 30, 20222$382M$382M102c0
Dec 31, 20212$210M$210M102c0
What changed
Full timeline · 6 events
Every change including routine ones
Identity
Group key
M••• P••••••••derivedthe codename stem after legal suffixes and deal words
Spellings
1 across 2 BDCsderived