DFX Intelligence
The names on this page are hidden. Create a free account to reveal 5 records a month, or get Private Credit Intelligence at $249 a month for every name. Every figure, date and source on this page is public either way.
Borrower
P•••••• L•••••• H•••••••• I••
Softwaregroup grade Aon a schedule nowsponsor unattributed
Also written as: Emerald JV LP; Inc. -High Tech Industries
Principal held
at least $222M
sum of BDC pieces, a lower bound
Fair value
$135M
63c on cost, debt pieces
Unfunded
$2.4M
commitments not yet drawn
BDC lenders
8
6 on the latest quarter
Facilities
4
0 equity pieces beside them
Next maturity
Jul 20, 2027
$15.4M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
10
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| revolver lien unstated | at least $166M | 63c | S+525 bp | Jul 20, 2029 | 1 |
| first lien term loan first lien | at least $51.0M | 64c | SOFR+525 bp | Jul 20, 2029 | 5 |
| second lien term loan second lien | at least $5.0M | 58c | SOFR+775 bp | Jul 22, 2030 | 1 |
| other lien unstated exited Dec 31, 2024 | at least $32.7M | 94c | S+525 bp | unstated | 3 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B• P••••••• L•••••• C••• | term loan first lien Senior Secured Loan Interest Rate 8.90% Reference Rate and Spread S + 5.25% Floor 1.00% Ma | $3.9M | $2.4M 64c | SOFR+525 bp |
| B•• I••••••••• C••• | term loan second lien Second Lien/Senior Secured Debt Interest Rate 11.41% Reference Rate and Spread SOFR + 7.75 | $5.0M | $2.9M 58c | SOFR+775 bp |
| B•• I••••••••• C••• | term loan first lien First Lien/Senior Secured Debt Interest Rate 9.01% Reference Rate and Spread SOFR + 5.25% | $8.9M | $5.5M 73c | SOFR+525 bp |
| B••••••••• P•••••• C••••• F••• | revolver lien unstated | $19.7M | $12.1M 66c | S+525 bp |
| B••••••••• P•••••• C••••• F••• | revolver lien unstated Revolver | n/a | n/a | |
| B••••••••• P•••••• C••••• F••• | revolver lien unstated Non-Affiliated Issuer | $131M | $80.6M 63c | S+525 bp |
| B••••••••• P•••••• C••••• F••• | revolver lien unstated Non-Affiliated Issuer | $15.4M | $8.4M 55c | S+365 bp |
| M••••• S•••••• D••••• L•••••• F••• | term loan first lien Investment First Lien Debt Reference Rate and Spread S + 5.25% Interest Rate 9.01% Maturit | $6.1M | $3.6M 62c | SOFR+5 bp |
| N•••• H•••• P•••••• I••••• F••• L•• | term loan first lien Investment First Lien Debt Reference Rate & Spread S + 5.25% Interest Rate 9.01% Maturity | $22.5M | $13.5M 62c | SOFR+525 bp |
| T• S••••• B•• L•• | term loan first lien First Lien Debt Reference Rate and Spread S + 5.25% Interest Rate 9.01% Maturity Date 07/2 | $9.7M | $5.8M 62c | SOFR+525 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 | $222M | $135M | 63c | 0 |
| Mar 31, 2026 | 6 | $214M | $131M | 63c | 0 |
| Dec 31, 2025 | 6 | $222M | $187M | 88c | 0 |
| Sep 30, 2025 | 6 | $217M | $195M | 93c | 0 |
| Jun 30, 2025 | 6 | $218M | $197M | 94c | 0 |
| Mar 31, 2025 | 6 | $216M | $186M | 90c | 0 |
| Dec 31, 2024 | 6 | $402M | $359M | 93c | 0 |
| Sep 30, 2024 | 6 | $196M | $175M | 93c | 0 |
| Jun 30, 2024 | 6 | $193M | $179M | 97c | 0 |
| Mar 31, 2024 | 6 | $180M | $165M | 96c | 0 |
| Dec 31, 2023 | 7 | $200M | $180M | 94c | 0 |
| Sep 30, 2023 | 6 | $184M | $161M | 92c | 0 |
| Jun 30, 2023 | 6 | $185M | $167M | 95c | 0 |
| Mar 31, 2023 | 6 | $180M | $165M | 97c | 0 |
| Dec 31, 2022 | 6 | $189M | $171M | 96c | 0 |
| Sep 30, 2022 | 1 | $146M | $129M | 93c | 0 |
| Dec 31, 2021 | 1 | $25.8M | $25.9M | 100c | 0 |
What changed
- Marked down across lendersMar 31, 2026
- Marked down across lendersMar 31, 2026
- Marked down across lendersMar 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
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Maturity shortened (observed)Sep 30, 2025
- Maturity extended (observed)Jun 30, 2025
- Spread increasedJun 30, 2025
- Maturity extended (observed)Jun 30, 2025
- Spread changed (observed)Dec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Marked down across lendersSep 30, 2024
- Marked down (one lender)Sep 30, 2024
- Spread changed (observed)Mar 31, 2024
- New lender joined a facilityDec 31, 2023
- Marked down across lendersSep 30, 2022
- Maturity extended (observed)Sep 30, 2022
- Marked down (one lender)Sep 30, 2022
- Spread increasedSep 30, 2022
- Maturity extended (observed)Sep 30, 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
- LEOPARDderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 8 BDCsderived
- Industry
- Softwarereportedas one filer wrote it