DFX Intelligence
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Borrower
T•• I••••••••• L••
Commercial Services & Suppliesgroup grade Aon a schedule nowsponsor unattributed
Also written as: Triumvirate Environmental
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 100¢ · 101¢ · 101¢ · 101¢Q2 2025 to Q2 2026
Where each lender marks it, 1 points apart
100¢101¢
Principal held
at least $459M
sum of BDC pieces, a lower bound
Fair value
$428M
101c on cost, debt pieces
Unfunded
$43.5M
commitments not yet drawn
BDC lenders
7
7 on the latest quarter
Facilities
6
0 equity pieces beside them
Next maturity
Dec 15, 2031
no dated debt inside 24 months
On the tape since
Dec 31, 2024
latest Jun 30, 2026
Events
4
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | $187M | 101¢ | 0 pts |
| G•••••• S•••• P•••••• C••••• C•••• | $160M | 100¢ | 0 pts |
| B••••••••• S•••••• L•••••• F••• | $32.7M | 101¢ | 0 pts |
| F••••••• B•• C•••••• C••• | $29M | 100¢ | 0 pts |
| G•••••• S•••• B••• I••• | $28.8M | 100¢ | 0 pts |
View all 7 lendersShow fewerlargest exposure first
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| P•••••• S••••• B•• L•• | $12M | 100¢ | 0 pts |
| A•• B••• L•• | $10.5M | 100¢ | 0 pts |
Every BDC piece · 28 positions across 7 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | unstated lien unstated N••••••••• I••••• | $150M | $150M 101c | S+525 bp PIK 2.88% |
| G•••••• S•••• P•••••• C••••• C•••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• C••••••••• Services & S••••••• I••••••• R••• 8.98% R | $110M | $110M 100c | SOFR+525 bp PIK 2.88% |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated N••••••••• I••••• | $37.3M | $37.3M 101c | S+475 bp |
| G•••••• S•••• P•••••• C••••• C•••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• C••••••••• Services & S••••••• I••••••• R••• 8.40% R | $34.5M | $24.6M 100c | Prime+475 bp |
| B••••••••• S•••••• L•••••• F••• | unstated lien unstated N••••••••• I••••• | $26.4M | $26.4M 101c | S+525 bp PIK 2.88% |
View all 28 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| F••••••• B•• C•••••• C••• | term loan first lien | $23.3M | $23.3M 100c | S+525 bp PIK 2.88% |
| G•••••• S•••• B••• I••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• C••••••••• Services & S••••••• I••••••• R••• 8.98% R | $19.9M | $19.8M 100c | SOFR+525 bp PIK 2.88% |
| G•••••• S•••• P•••••• C••••• C•••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• C••••••••• Services & S••••••• I••••••• R••• 8.42% R | $14.7M | $1.7M 103c | SOFR+475 bp |
| P•••••• S••••• B•• L•• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• C••••••••• Services & S••••••• I••••••• R••• 8.98% R | $8.3M | $8.3M 100c | SOFR+525 bp PIK 2.88% |
| A•• B••• L•• | unstated lien unstated | $7.2M | $7.2M 100c | S+525 bp PIK 2.88% |
| G•••••• S•••• B••• I••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• C••••••••• Services & S••••••• I••••••• R••• 8.40% R | $6.2M | $4.4M 100c | SOFR+475 bp |
| B••••••••• S•••••• L•••••• F••• | unstated lien unstated N••••••••• I••••• | $5.9M | $5.9M 101c | S+475 bp |
| F••••••• B•• C•••••• C••• | term loan first lien | $5.2M | $5.2M 101c | S+475 bp |
| G•••••• S•••• B••• I••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• C••••••••• Services & S••••••• I••••••• R••• 8.42% R | $2.6M | $314,000 103c | SOFR+475 bp |
| P•••••• S••••• B•• L•• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• C••••••••• Services & S••••••• I••••••• R••• 8.40% R | $2.6M | $1.9M 100c | SOFR+475 bp |
| A•• B••• L•• | unstated lien unstated | $2.3M | $1.6M 101c | S+475 bp |
| P•••••• S••••• B•• L•• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• C••••••••• Services & S••••••• I••••••• R••• 8.42% R | $1.1M | $131,000 102c | SOFR+475 bp |
| A•• B••• L•• | unstated lien unstated | $964,000 | $117,000 101c | S+475 bp |
| B••••••••• S•••••• L•••••• F••• | unstated lien unstated N••••••••• I••••• | $433,000 | $433,000 107c | S+475 bp |
| F••••••• B•• C•••••• C••• | term loan first lien | $384,000 | $384,000 102c | S+475 bp |
| A•• B••• L•• | revolver lien unstated R••••••• | Not disclosed | Not disclosed | |
| A•• B••• L•• | delayed draw term loan lien unstated D•••••• D••• T••• L••• | Not disclosed | Not disclosed | |
| B••••••••• P•••••• C••••• F••• | revolver lien unstated R••••••• | Not disclosed | Not disclosed | |
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated D•••••• D••• T••• L••• | Not disclosed | Not disclosed | |
| B••••••••• S•••••• L•••••• F••• | delayed draw term loan lien unstated D•••••• D••• T••• L••• | Not disclosed | Not disclosed | |
| B••••••••• S•••••• L•••••• F••• | revolver lien unstated R••••••• | Not disclosed | Not disclosed | |
| F••••••• B•• C•••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D••• | Not disclosed | Not disclosed | |
| F••••••• B•• C•••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D••• | Not disclosed | Not disclosed |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated | at least $230M | 101c | S+525 bp PIK 2.88% | Dec 15, 2031 | 3 |
| first lien term loan first lien | at least $229M | 100c | SOFR+525 bp PIK 2.88% | Dec 15, 2031 | 4 |
| delayed draw term loan lien unstated | unknown | n/a | unstated | 3 | |
| revolver lien unstated | unknown | n/a | unstated | 3 | |
| first lien revolver first lien exited Dec 31, 2024 | unknown | n/a | unstated | 1 |
All 6 facilitiesShow fewerheld first, largest first
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien delayed draw term loan first lien exited Dec 31, 2024 | unknown | n/a | unstated | 1 |
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 | 7 | $459M | $428M | 101c | 7 |
| Mar 31, 2026 | 7 | $445M | $426M | 101c | 7 |
| Dec 31, 2025 | 6 | $728M | $634M | 101c | 8 |
| Sep 30, 2025 | 6 | $402M | $344M | 100c | 0 |
All 7 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 6 | $390M | $334M | 100c | 0 |
| Mar 31, 2025 | 3 | $199M | $197M | 100c | 0 |
| Dec 31, 2024 | 3 | $396M | $392M | 100c | 0 |
What changed
- PIK interest appearsDec 31, 2025
- Spread increasedDec 31, 2025
- Spread increasedDec 31, 2025
- Spread increasedDec 31, 2025
- Spread increasedDec 31, 2025
Full timeline · 20 eventsShow fewer
- Spread increasedDec 31, 2025
- Spread increasedDec 31, 2025
- PIK interest appearsDec 31, 2025
- PIK interest appearsDec 31, 2025
- PIK interest appearsDec 31, 2025
- PIK interest appearsDec 31, 2025
- PIK interest appearsDec 31, 2025
- PIK interest appearsDec 31, 2025
- New lender joined a facilityJun 30, 2025
- New lender joined a facilityJun 30, 2025
- New lender joined a facilityJun 30, 2025
- Lender left a facilityMar 31, 2025
- New borrower on a BDC scheduleDec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- Facility left every 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
- T•• I•••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 7 BDCsderived
- Industry
- Commercial Services & Suppliesreportedas one filer wrote it