DFX Intelligence
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Borrower
A•••• I••••••• • A•••••••• A•• A•••• B••••• L••
IT Servicesgroup grade Aon a schedule nowsponsor unattributed
What matters now
- 101¢ → 96¢consensus mark
Consensus mark 96¢ on cost, down from 101¢ in Q2 2025, 100¢ last quarter.
Q1 2026 · The lenders' own valuations, the most direct read of what they expect to recover.
Derived1 of 1 lender' own marks, weighted by principal
Mark path, consensus per quarter end
101¢ · 101¢ · 100¢ · 96¢Q2 2025 to Q1 2026
Principal held
at least $9.1M
sum of BDC pieces, a lower bound
Fair value
$8.5M
96c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Oct 2, 2029
no dated debt inside 24 months
On the tape since
Jun 30, 2025
latest Mar 31, 2026
Events
5
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2026, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| M••••• F•••••••• I••••••••• C••• | $9.11M | 96¢ | -4 pts |
Every BDC piece · 3 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••••• F•••••••• I••••••••• C••• | delayed draw term loan first lien F•••• L••• S•••••• D••• - D•••••• D••• S•••+500, 1.00% F•••• M••••••• date - 10/02/29 | $5.4M | $5.1M 95c | SOFR+500 bp |
| M••••• F•••••••• I••••••••• C••• | term loan first lien F•••• L••• S•••••• D••• - T••• L••• S•••+500, 1.00% F•••• M••••••• date - 10/02/29 | $3.7M | $3.5M 98c | SOFR+500 bp |
| M••••• F•••••••• I••••••••• C••• | revolver first lien F•••• L••• S•••••• D••• - R••••••• S•••+500, 1.00% F•••• M••••••• date - 10/02/29 | Not disclosed | -$50,000 227c | SOFR+500 bp |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien delayed draw term loan first lien exited Mar 31, 2026 | at least $5.4M | 95c | SOFR+500 bp | Oct 2, 2029 | 1 |
| first lien term loan first lien exited Mar 31, 2026 | at least $3.7M | 98c | SOFR+500 bp | Oct 2, 2029 | 1 |
| first lien revolver first lien exited Mar 31, 2026 | unknown | n/a | SOFR+500 bp | Oct 2, 2029 | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2026 | 1 | $9.1M | $8.5M | 96c | 0 |
| Dec 31, 2025 | 1 | $9.1M | $9.0M | 100c | 0 |
| Sep 30, 2025 | 1 | $9.2M | $9.0M | 101c | 0 |
| Jun 30, 2025 | 1 | $7.4M | $7.2M | 101c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2026
- Marked down across lendersMar 31, 2026
- Facility left every BDC scheduleMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Facility left every BDC scheduleMar 31, 2026
Full timeline · 7 eventsShow fewer
- Spread increasedSep 30, 2025
- New borrower on a BDC scheduleJun 30, 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
- AVENU INSIGHTS AND ANALYTICS ACP AVENUderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- IT Servicesreportedas one filer wrote it