DFX Intelligence
Private Credit Intelligence
The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.
Borrower
NE Ortho Management Services, LLC
Health Care Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: LLC 2025; LLC Type
Principal held
at least $48.0M
sum of BDC pieces, a lower bound
Fair value
$47.3M
124c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
4
3 on the latest quarter
Facilities
5
0 equity pieces beside them
Next maturity
Dec 13, 2030
no dated debt inside 24 months
On the tape since
Dec 31, 2024
latest Jun 30, 2026
Events
2
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| delayed draw term loan lien unstated | at least $31.4M | 139c | SOFR+500 bp | Dec 13, 2030 | 3 |
| term loan lien unstated | at least $12.4M | 100c | SOFR+500 bp | Dec 13, 2030 | 2 |
| first lien delayed draw term loan first lien | at least $3.1M | 99c | SOFR+500 bp | Dec 13, 2030 | 1 |
| revolver lien unstated | at least $1.0M | 229c | SOFR+500 bp | Dec 13, 2030 | 3 |
| first lien revolver first lien | at least $136,000 | 99c | SOFR+500 bp | Dec 13, 2030 | 1 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| Fidelity Private Credit Fund | delayed draw term loan lien unstated Delayed Draw Term Loan Reference Rate and Spread SOFR + 5.00% Interest Rate 8.73% Maturity | $5.8M | $5.7M 100c | SOFR+500 bp |
| Fidelity Private Credit Fund | term loan lien unstated Term Loan Reference Rate and Spread SOFR + 5.00% Interest Rate 8.73% Maturity Date 12/13/2 | $12.4M | $12.3M 100c | SOFR+500 bp |
| Fidelity Private Credit Fund | delayed draw term loan lien unstated Delayed Draw Term Loan Reference Rate and Spread SOFR + 5.00% Interest Rate 8.73% Maturity | $15.5M | $15.3M 100c | SOFR+500 bp |
| Fidelity Private Credit Fund | revolver lien unstated Revolving Credit Facility Reference Rate and Spread SOFR + 5.00% Interest Rate 8.74% Matur | $446,803 | $419,995 99c | SOFR+500 bp |
| Fidelity Private Credit Fund | delayed draw term loan lien unstated Delayed Draw Term Loan Reference Rate and Spread SOFR + 5.00% Interest Rate 8.73% Maturity | $1.4M | $1.3M 99c | SOFR+500 bp |
| Manulife Private Credit Fund | revolver lien unstated Revolver (3 month CME Term SOFR + 5.000%) | Senior loans 238.6% | $553,291 | $545,545 | SOFR+500 bp |
| Manulife Private Credit Fund | delayed draw term loan lien unstated Delayed Draw Term Loan (3 month CME Term SOFR + 5.000%) | Senior loans 238.6% | $8.9M | $8.7M | SOFR+500 bp |
| Stepstone Private Credit Fund LLC | delayed draw term loan first lien Delayed Draw Term Loan | NCNA Debt Inv. | First Lien Senior Secured Loan | 12/13/2030 | $3.1M | $2.9M 99c | SOFR+500 bp |
| Stepstone Private Credit Fund LLC | revolver first lien Revolving Loan | NCNA Debt Inv. | First Lien Senior Secured Loan | 12/13/2030 | $136,000 | $129,000 99c | SOFR+500 bp |
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 | 3 | $48.0M | $47.3M | 124c | 0 |
| Mar 31, 2026 | 4 | $61.8M | $61.0M | 118c | 0 |
| Dec 31, 2025 | 2 | $27.5M | $26.9M | 100c | 0 |
| Sep 30, 2025 | 2 | $25.9M | $25.9M | 102c | 0 |
| Jun 30, 2025 | 2 | $17.8M | $17.8M | 103c | 0 |
| Mar 31, 2025 | 2 | $17.8M | $17.3M | 100c | 0 |
| Dec 31, 2024 | 2 | $30.4M | $29.5M | 100c | 0 |
What changed
- Spread changed (observed)Jun 30, 2026
- Spread increasedJun 30, 2026
- New lender joined a facilityMar 31, 2026
- New lender joined a facilityMar 31, 2026
- New borrower on a BDC scheduleDec 31, 2024
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- NE ORTHO SERVICESderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 4 BDCsderived
- Industry
- Health Care Servicesreportedas one filer wrote it