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
C•••• S••••••• G••••• I••
Also written as: Application S•••••••; C•••• S••••••• G•••• Holdings; C•••• S••••••• G•••• Holdings Inc; Corporate; Elliott Alto Co-Investor Aggregator L.P; Emerald JV LP; Firs lien; Fixed
What matters now
- 103¢ → 87¢consensus mark
Consensus mark 87¢ on cost, down from 103¢ a year ago, 94¢ last quarter.
Q2 2026 · The lenders' own valuations, the most direct read of what they expect to recover.
Derived12 of 15 lenders' own marks, weighted by principal - $429Mprincipal outstanding
$429M principal held by 15 lenders; matures Mar 2029.
Q2 2026 · Refinancing is due in 29 months at a 87¢ mark.
FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
Mark path, consensus per quarter end
103¢ · 102¢ · 102¢ · 94¢ · 87¢Q2 2025 to Q2 2026
Where each lender marks it on the first lien term loan, 1 point apart
87¢88¢
Principal held
at least $429M
sum of BDC pieces, a lower bound
Fair value
$405M
87c on cost, debt pieces
Unfunded
$19.1M
commitments not yet drawn
BDC lenders
26
15 on the latest quarter
Facilities
7
2 equity pieces beside them
Next maturity
Mar 1, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Jun 30, 2026
Events
13
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••• O•• C••••• I••••• C•••• | $133M | 87¢ | -4 pts |
| A••• S•••••••• I••••• F••• | $122M | 87¢ | -4 pts |
| B••• O•• T••••••••• I••••• C•••• | $48.8M | 87¢ | -4 pts |
| B••••••••• P•••••• C••••• F••• | $46.4M | 88¢ | -4 pts |
| H•• C•••••••• L•••••• F••• | $26.4M | 92¢ | -4 pts |
View all 15 lendersShow fewerlargest exposure first
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| G•••••• S•••• P•••••• C••••• C•••• | $23.9M | 87¢ | -4 pts |
| G•••• C•••••• P•••••• C••••• F••• | $18M | 87¢ | -5 pts |
| A••• C••• I••••••••• F••• | $3.71M | 88¢ | -4 pts |
| B•••••••• P•••••• C••••• F••• | $2.3M | 90¢ | new this quarter |
| B•••••• P•••••• C••••• C••• | $1.98M | 87¢ | -4 pts |
| C••••••• P•••••• C••••• I••••• C••• | $1.62M | 88¢ | -4 pts |
| F• K•• C•••••• C••• | $700K | 117¢ as filed, not counted | no comparable mark |
| A• P•••••• L•••••• F••• | $499K | 93¢ | new this quarter |
| A•••••• P•••••• C••••• F••• | $100K | no cost filed | no comparable mark |
| A••• C•••••• C••• | no principal filed | no cost filed | no comparable mark |
Every BDC piece · 29 positions across 15 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••• O•• C••••• I••••• C•••• | term loan first lien F•••• lien senior secured loan 1 | N••••••••• I••••• | $79.0M | $69.0M 87c | S+325 bp |
| A••• S•••••••• I••••• F••• | term loan first lien F•••• lien senior secured loan 1 | $66.2M | $57.0M 86c | S+325 bp |
| A••• S•••••••• I••••• F••• | term loan first lien F•••• lien senior secured loan 2 | $55.8M | $48.7M 87c | S+325 bp |
| B••• O•• C••••• I••••• C•••• | term loan first lien F•••• lien senior secured loan 2 | N••••••••• I••••• | $53.9M | $46.5M 86c | S+325 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $36.9M | $32.4M 88c | S+325 bp |
View all 29 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••• O•• T••••••••• I••••• C•••• | term loan first lien F•••• lien senior secured loan 1 | $27.3M | $23.8M 87c | S+325 bp |
| B••• O•• T••••••••• I••••• C•••• | term loan first lien F•••• lien senior secured loan 2 | $21.6M | $18.6M 86c | S+325 bp |
| G•••••• S•••• P•••••• C••••• C•••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• IT Services I••••••• R••• 6.98% R•••••••• R••• and S | $14.1M | $12.3M 87c | SOFR+325 bp |
| G•••• C•••••• P•••••• C••••• F••• | term loan first lien S••••• secured 1 | $14.0M | $12.1M 87c | S+325 bp |
| H•• C•••••••• L•••••• F••• | unstated lien unstated N••••••••• I••••• | $13.9M | $12.1M 87c | S+325 bp |
| G•••••• S•••• P•••••• C••••• C•••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• IT Services I••••••• R••• 6.98% R•••••••• R••• and S | $9.8M | $8.5M 86c | SOFR+325 bp |
| H•• C•••••••• L•••••• F••• | unstated lien unstated N••••••••• I••••• | $7.7M | $7.5M 105c | S+650 bp |
| H•• C•••••••• L•••••• F••• | unstated lien unstated N••••••••• I••••• | $4.7M | $4.2M 88c | S+325 bp |
| G•••• C•••••• P•••••• C••••• F••• | term loan first lien S••••• secured 2 | $4.0M | $3.5M 88c | S+325 bp |
| A••• C••• I••••••••• F••• | term loan first lien F•••• lien snior secured loans | $3.7M | $3.2M 88c | S+325 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $3.5M | $3.0M 87c | S+325 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated N••••••••• I••••• | $3.0M | $2.6M 88c | S+325 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $2.4M | $2.1M 88c | S+325 bp |
| B•••••• P•••••• C••••• C••• | term loan first lien F•••• L••• S••••• S•••••• T••• L••• | $2.0M | $1.7M 87c | S+325 bp |
| B•••••••• P•••••• C••••• F••• | term loan first lien I••••••••• F•••• L••• T••• L••• Ref S•••(M) S••••• 3.25% T•••• C••••• 6.98% M••••••• 8/13/ | $1.7M | $1.5M 88c | SOFR+325 bp |
| C••••••• P•••••• C••••• I••••• C••• | term loan first lien Investment T••• S••••• S•••••• F•••• L••• T••• L••• I••••••• T••• S + 325 I••••••• R••• 7. | $1.6M | $1.4M 88c | SOFR+325 bp |
| F• K•• C•••••• C••• | unstated lien unstated | $700,000 | $700,000 117c | S+650 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $693,000 | $602,000 87c | S+325 bp |
| B•••••••• P•••••• C••••• F••• | term loan first lien I••••••••• F•••• L••• T••• L••• Ref S•••(M) S••••• 3.25% T•••• C••••• 6.98% M••••••• 8/7/2 | $550,000 | $477,615 95c | SOFR+325 bp |
| A• P•••••• L•••••• F••• | term loan first lien US C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | T••• L••• | 6.98% (S + 3.25%) | 3/21/20 | $498,744 | $435,777 93c | SOFR+325 bp |
| A•••••• P•••••• C••••• F••• | revolver first lien Asset T••• F•••• L••• R••••••• R•••••••• R••• and S••••• S + 3.25% I••••••• R••• 7.00% M•• | $100,000 | $0 | SOFR+325 bp |
| A•••••• P•••••• C••••• F••• | revolver first lien C••••••••• T••• R••••••• C••••••••• E••••••••• D••• 9/28/2029 | Not disclosed | $0 | |
| A••• C•••••• C••• | unstated lien unstated | Not disclosed | Not disclosed | |
| A••• C•••••• C••• | equity equity L•••••• partnership interests | Not disclosed | $30.5M 248c |
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 $356M | 87c | SOFR+325 bp | Aug 13, 2032 | 10 |
| other lien unstated | at least $73.4M | 89c | S+650 bp | Aug 13, 2032 | 4 |
| first lien revolver first lien | at least $100,000 | n/a | SOFR+325 bp | Sep 28, 2029 | 1 |
| second lien term loan second lien exited Mar 31, 2026 | at least $122M | 101c | 9.00% | Sep 1, 2029 | 2 |
| notes lien unstated exited Dec 31, 2024 | at least $8.9M | 107c | 6.50% | Mar 31, 2029 | 1 |
All 7 facilitiesShow fewerheld first, largest first
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| unsecured or subordinated term loan unsecured or subordinated exited Jun 30, 2023 | at least $6.9M | 109c | S+900 bp | Sep 1, 2029 | 1 |
| revolver lien unstated exited Dec 31, 2024 | unknown | n/a | unstated | 1 |
Equity pieces beside the debt: equity ($30.5M fair value, 1 BDC), preferred equity ($128M fair value, 1 BDC)
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 | 15 | $429M | $374M | 87c | 0 |
| Mar 31, 2026 | 13 | $524M | $484M | 93c | 0 |
| Dec 31, 2025 | 14 | $628M | $634M | 102c | 0 |
| Sep 30, 2025 | 13 | $610M | $617M | 102c | 0 |
All 15 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 15 | $597M | $602M | 103c | 0 |
| Mar 31, 2025 | 16 | $581M | $575M | 101c | 0 |
| Dec 31, 2024 | 14 | $925M | $926M | 102c | 0 |
| Sep 30, 2024 | 15 | $620M | $620M | 103c | 0 |
| Jun 30, 2024 | 15 | $580M | $572M | 102c | 0 |
| Mar 31, 2024 | 10 | $566M | $554M | 102c | 0 |
| Dec 31, 2023 | 6 | $459M | $442M | 102c | 0 |
| Sep 30, 2023 | 3 | $285M | $253M | 95c | 0 |
| Jun 30, 2023 | 3 | $156M | $245M | 95c | 0 |
| Mar 31, 2023 | 1 | $22.6M | $20.4M | 102c | 0 |
| Dec 31, 2022 | 1 | $9.6M | $8.1M | 101c | 0 |
What changed
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- Marked down across lendersMar 31, 2026
- Facility left every BDC scheduleMar 31, 2026
- Marked down (one lender)Mar 31, 2026
Full timeline · 30 eventsShow fewer
- 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
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Maturity shortened (observed)Mar 31, 2026
- Lender left a facilityDec 31, 2025
- New lender joined a facilityDec 31, 2025
- New lender joined a facilityDec 31, 2025
- Maturity extended (observed)Sep 30, 2025
- New lender joined a facilitySep 30, 2025
- Lender left a facilitySep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- Lender left a facilityJun 30, 2025
- Lender left a facilityJun 30, 2025
Sponsor
Possible relationship, not established: W• C•••••• P•••••••, because a company of this name is on the sponsor's portfolio page (confidence 0.65). No deal announcement or filing names it as a party, so it is not shown as this borrower’s sponsor.
- V•••• E••••• P••••••• M••••••••• L••
- the sponsor's own portfolio page lists a company of this nameestimatedvistaequitypartners.com"••• Locked"
- W• C•••••• P•••••••
- the sponsor's own portfolio page lists a company of this nameestimatedwcapgroup.com"••• Locked"
Identity
- Group key
- CLOUD SOFTWAREderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 26 BDCsderived
- Industry
- S•••••••reportedas one filer wrote it