DFX Intelligence
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Borrower
T•••••••• B•••• S••••
group grade Aon a schedule nowsponsor unattributed
Also written as: Emerald JV LP; T•••••••• B•••• SPA
Principal held
at least $69.8M
sum of BDC pieces, a lower bound
Fair value
$79.7M
109c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
Dec 23, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2022
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 |
|---|---|---|---|---|---|
| other lien unstated | at least $69.8M | 109c | S+500 bp | Dec 30, 2029 | 1 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $3.8M | $4.3M 106c | S+475 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $66.0M | $75.4M 109c | S+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 | 1 | $69.8M | $79.7M | 109c | 0 |
| Mar 31, 2026 | 1 | $69.8M | $80.6M | 111c | 0 |
| Dec 31, 2025 | 1 | $69.8M | $82.0M | 113c | 0 |
| Sep 30, 2025 | 1 | $69.8M | $81.9M | 113c | 0 |
| Jun 30, 2025 | 1 | $69.8M | $82.2M | 113c | 0 |
| Mar 31, 2025 | 1 | $69.8M | $75.4M | 104c | 0 |
| Dec 31, 2024 | 1 | $140M | $145M | 100c | 0 |
| Sep 30, 2024 | 1 | $69.8M | $77.6M | 107c | 0 |
| Jun 30, 2024 | 1 | $69.8M | $74.7M | 103c | 0 |
| Mar 31, 2024 | 1 | $69.8M | $75.3M | 104c | 0 |
| Dec 31, 2023 | 1 | $66.0M | $72.7M | 107c | 0 |
What changed
- Spread increasedSep 30, 2025
- Marked down (one lender)Dec 31, 2024
- New borrower on a BDC scheduleDec 31, 2022
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- TANGERINEderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 1 BDCderived