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
S•••• C••••••••• L••
group grade Aon a schedule nowsponsor unattributed
Also written as: LLC Emerald JV LP; LLC Verdelite JV LP
Principal held
at least $75.3M
sum of BDC pieces, a lower bound
Fair value
$70.4M
94c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
17
6 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Aug 1, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
5
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 $75.3M | 94c | SOFR+325 bp | Aug 13, 2029 | 12 |
| other lien unstated exited Dec 31, 2025 | at least $32.5M | 101c | S+325 bp | Aug 13, 2029 | 2 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B•••••• P•••••• C••••• C••• | term loan first lien First Lien Senior Secured Term Loan | $1.7M | $1.6M 93c | S+325 bp |
| B••• O•• C••••• I••••• C•••• | term loan first lien First lien senior secured loan | Non-Affiliated Issuer | $42.7M | $39.9M 93c | S+325 bp |
| B••• O•• T••••••••• F•••••• C•••• | term loan first lien First lien senior secured loan | Non-Affiliated Issuer | $19.1M | $17.9M 94c | S+325 bp |
| B••• O•• T••••••••• I••••• C•••• | term loan first lien First lien senior secured loan | $8.3M | $7.7M 94c | S+325 bp |
| S•••• P•••• C••••• C••• | term loan first lien First Lien Term Loan, Due 8/13/2029 | $2.1M | $2.0M 102c | SOFR+325 bp |
| S•••• P•••• C••••• I••••• F••• | term loan first lien First Lien Term Loan | $1.4M | $1.3M 102c | S+325 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 | 6 | $75.3M | $70.4M | 94c | 0 |
| Mar 31, 2026 | 6 | $75.4M | $71.5M | 95c | 0 |
| Dec 31, 2025 | 5 | $105M | $105M | 100c | 0 |
| Sep 30, 2025 | 6 | $131M | $131M | 100c | 0 |
| Jun 30, 2025 | 6 | $129M | $130M | 101c | 0 |
| Mar 31, 2025 | 6 | $129M | $129M | 100c | 0 |
| Dec 31, 2024 | 7 | $187M | $189M | 102c | 0 |
| Sep 30, 2024 | 7 | $105M | $105M | 101c | 0 |
| Jun 30, 2024 | 7 | $104M | $103M | 101c | 0 |
| Mar 31, 2024 | 7 | $89.1M | $88.2M | 101c | 0 |
| Dec 31, 2023 | 7 | $98.2M | $97.0M | 100c | 0 |
| Sep 30, 2023 | 6 | $87.5M | $86.0M | 100c | 0 |
| Jun 30, 2023 | 6 | $87.7M | $84.5M | 98c | 0 |
| Mar 31, 2023 | 7 | $72.1M | $68.1M | 104c | 0 |
| Dec 31, 2022 | 7 | $75.1M | $69.2M | 93c | 0 |
| Sep 30, 2022 | 1 | $16.1M | $15.4M | 95c | 0 |
| Dec 31, 2021 | 1 | $12.6M | $12.6M | 101c | 0 |
What changed
- New lender joined a facilityMar 31, 2026
- New lender joined a facilityMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Facility left every BDC scheduleDec 31, 2025
- Spread changed (observed)Sep 30, 2025
- Lender left a facilitySep 30, 2025
- New lender joined a facilitySep 30, 2025
- New lender joined a facilitySep 30, 2025
- Lender left a facilityJun 30, 2025
- Lender left a facilityJun 30, 2025
- Maturity extended (observed)Mar 31, 2025
- New lender joined a facilityMar 31, 2025
- Maturity extended (observed)Mar 31, 2025
- Maturity extended (observed)Mar 31, 2025
- Maturity extended (observed)Mar 31, 2025
- Maturity extended (observed)Mar 31, 2025
- Maturity extended (observed)Mar 31, 2025
- Lender left a facilityDec 31, 2024
- New lender joined a facilityMar 31, 2024
- Spread increasedJun 30, 2023
- Mark recoveredMar 31, 2023
- Lender left a facilityMar 31, 2023
- Marked down (one lender)Sep 30, 2022
- New borrower on a BDC scheduleDec 31, 2021
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- SOVOS COMPLIANCEderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 17 BDCsderived