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
M•••• F•••••••• G••••• L••
group grade Aon a schedule nowsponsor unattributed
Also written as: CWC Fund I Co-Invest LP; CWC Fund I LP
Principal held
at least $35.4M
sum of BDC pieces, a lower bound
Fair value
$46.8M
100c on cost, debt pieces
Unfunded
$5.4M
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
2 equity pieces beside them
Next maturity
Aug 1, 2032
no dated debt inside 24 months
On the tape since
Sep 30, 2025
latest Jun 30, 2026
Events
3
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 $35.4M | 100c | S+475 bp | Aug 1, 2032 | 2 |
| first lien revolver first lien exited Mar 31, 2026 | at least $2.5M | 101c | S+475 bp | Aug 1, 2032 | 2 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••• C•••••• C••• | unstated lien unstated | n/a | n/a | |
| A••• C•••••• C••• | term loan first lien First lien senior secured loan | $17.7M | $17.7M 100c | S+475 bp |
| A••• C•••••• C••• | equity equity Limited partnership interests | n/a | $5.7M 112c | |
| A••• S•••••••• I••••• F••• | unstated lien unstated | n/a | n/a | |
| A••• S•••••••• I••••• F••• | equity equity Limited partnership interests | n/a | $5.7M 111c | |
| A••• S•••••••• I••••• F••• | term loan first lien First lien senior secured loan | $17.7M | $17.7M 101c | S+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 | $35.4M | $35.4M | 100c | 0 |
| Mar 31, 2026 | 2 | $33.0M | $33.0M | 100c | 0 |
| Dec 31, 2025 | 2 | $28.5M | $28.1M | 99c | 0 |
| Sep 30, 2025 | 2 | $25.0M | $24.8M | 100c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2026
- Spread changed (observed)Mar 31, 2026
- 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
- MERIT FINANCIALderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived