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.
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Borrower
A•••• B••••• I••
Business Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: 2025; 3; A•••• Topco, Inc; Inc - Unfunded; Inc. Acquisition 9
Principal held
at least $49.4M
sum of BDC pieces, a lower bound
Fair value
$29.8M
101c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
Jul 16, 2027
$14.1M inside 24 months
On the tape since
Sep 30, 2025
latest Jun 30, 2026
Events
1
dated, non-routine
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 $43.0M | 101c | SOFR+475 bp | Jul 17, 2031 | 2 |
| first lien revolver first lien | at least $6.4M | n/a | 0.00% | Jul 17, 2031 | 2 |
Equity pieces beside the debt: equity ($817,000 fair value, 1 BDC)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| P••••••••• F••••••• R••• C•••••• L••• | term loan first lien First Lien Secured Debt Acquisition 9/3/2025 Maturity 7/17/2031 Industry Business Services | $8.9M | $8.9M 101c | SOFR+475 bp |
| P••••••••• F••••••• R••• C•••••• L••• | term loan first lien First Lien Secured Debt Acquisition 7/17/2025 Maturity 7/17/2031 Industry Business Service | $16.1M | $16.1M 101c | SOFR+475 bp |
| P••••••••• F••••••• R••• C•••••• L••• | term loan first lien First Lien Secured Debt Term Loan Acquisition 7/17/2025 Maturity 7/16/2027 Industry Busine | $8.8M | $55,000 | 0.00% |
| P••••••••• F••••••• R••• C•••••• L••• | equity equity Common Equity Common Equity Acquisition 7/17/2025 Industry Business Services | n/a | $817,000 100c | |
| P••••••••• F••••••• R••• C•••••• L••• | revolver first lien First Lien Secured Debt Revolver Acquisition 7/17/2025 Maturity 7/17/2031 Industry Busines | $4.0M | $0 | 0.00% |
| P••••••••• I••••••••• C••• | term loan first lien First Lien Secured Debt Term Loan Acquisition 07/17/2025 Maturity 07/16/2027 Industry Busi | $5.3M | $33,000 | 0.00% |
| P••••••••• I••••••••• C••• | revolver first lien First Lien Secured Debt Revolver Acquisition 07/17/2025 Maturity 07/17/2031 Industry Busin | $2.4M | $0 | 0.00% |
| P••••••••• I••••••••• C••• | term loan first lien First Lien Secured Debt Acquisition 07/17/2025 Maturity 07/17/2031 Industry Business Servi | $3.9M | $3.9M 101c | SOFR+475 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 | 2 | $49.4M | $29.0M | 101c | 0 |
| Mar 31, 2026 | 2 | $49.4M | $23.5M | 100c | 0 |
| Dec 31, 2025 | 2 | $55.6M | $24.9M | 101c | 0 |
| Sep 30, 2025 | 2 | $55.7M | $24.7M | 100c | 0 |
What changed
- New borrower on a BDC scheduleSep 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
- APHIXderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 2 BDCsderived
- Industry
- Business Servicesreportedas one filer wrote it