DFX Intelligence
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Borrower
S••••••• C••••• M••••••••• S•••••••• I••
Professional Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: 1; Emerald JV LP; Inc. Assets Type; Inc. 1 Emerald JV LP; Inc. Asset Type; Inc. Assets; Inc. First and; Inc.-Services: Business
Principal held
at least $386M
sum of BDC pieces, a lower bound
Fair value
$384M
100c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
20
14 on the latest quarter
Facilities
4
0 equity pieces beside them
Next maturity
Jul 1, 2031
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
6
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| term loan lien unstated | at least $259M | 101c | S+500 bp | Jul 30, 2032 | 1 |
| first lien term loan first lien | at least $76.0M | 99c | SOFR+250 bp | Jul 31, 2031 | 12 |
| other lien unstated | at least $51.5M | 100c | S+250 bp | Jul 30, 2032 | 8 |
| second lien term loan second lien exited Mar 31, 2025 | at least $2.0M | 100c | SOFR+300 bp | Jul 31, 2031 | 1 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A•••••• P•••••• C••••• F••• | term loan first lien Asset T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 2.50% I••••••• R••• 6.16% M• | $1.5M | $1.4M 99c | SOFR+250 bp |
| A•••••• S•••••••• C••••• F••• | term loan first lien Asset T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 2.50% I••••••• R••• 6.16% M• | $5.2M | $5.1M 99c | SOFR+250 bp |
| A•••••• S•••••••• C••••• F••• I• L•• | term loan first lien Asset T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 2.50% I••••••• R••• 6.16% M• | $992,000 | $982,000 99c | SOFR+250 bp |
| A••• S•••••••• I••••• F••• | term loan first lien F•••• lien senior secured loan | $31.9M | $31.5M 99c | S+250 bp |
| B•••••• P•••••• C••••• C••• | term loan first lien F•••• L••• S••••• S•••••• T••• L••• | $995,000 | $982,000 99c | S+250 bp |
| B•••••••• P•••••• C••••• F••• | term loan first lien I••••••••• F•••• L••• T••• L••• Ref S•••(M) S••••• 2.50% T•••• C••••• 6.14% M••••••• 7/13/ | $7.6M | $7.5M 99c | SOFR+250 bp |
| B••••••••• P•••••• C••••• F••• | term loan lien unstated N••••••••• I••••• | $9.6M | $9.5M 99c | S+250 bp |
| B••••••••• P•••••• C••••• F••• | term loan lien unstated N••••••••• I••••• | $230M | $230M 101c | S+500 bp |
| B••••••••• P•••••• C••••• F••• | term loan lien unstated | $13.2M | $13.1M 98c | S+250 bp |
| B••••••••• P•••••• C••••• F••• | term loan lien unstated | $5.9M | $5.8M 99c | S+250 bp |
| F••••••• B•• C•••••• C••• | unstated lien unstated | $7.2M | $7.1M 99c | S+250 bp |
| G•••••• S•••• P•••••• C••••• C•••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• I•••••••• I••••••• R••• 6.14% R•••••••• R••• and S•• | $17.8M | $17.6M 98c | SOFR+250 bp |
| H•• C•••••••• L•••••• F••• | unstated lien unstated N••••••••• I••••• | $25.0M | $24.9M 100c | S+500 bp |
| H•• C•••••••• L•••••• F••• | unstated lien unstated N••••••••• I••••• | $18.8M | $18.6M 100c | S+250 bp |
| N•••• H•••• P•••••• I••••• F••• A• L•• | term loan first lien Investment F•••• L••• D••• R•••••••• R••• and S••••• S + 2.50% I••••••• R••• 6.14% M•••••• | $980,000 | $967,000 98c | SOFR+250 bp |
| N•••• H•••• P•••••• I••••• F••• L•• | term loan first lien Investment F•••• L••• D••• R•••••••• R••• & S••••• S +2.50% I••••••• R••• 6.14% M••••••• D | $7.3M | $7.2M 98c | SOFR+250 bp |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | term loan first lien F•••• L••• D••• | $1.8M | $1.7M 99c | S+250 bp |
| S••••• C•••• C•••••• C••• | unstated lien unstated | $499,000 | $493,000 99c | 2.50% |
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 | 14 | $386M | $384M | 100c | 0 |
| Mar 31, 2026 | 13 | $400M | $397M | 100c | 0 |
| Dec 31, 2025 | 13 | $466M | $466M | 101c | 0 |
| Sep 30, 2025 | 13 | $421M | $421M | 100c | 0 |
| Jun 30, 2025 | 14 | $491M | $491M | 101c | 0 |
| Mar 31, 2025 | 15 | $526M | $524M | 100c | 0 |
| Dec 31, 2024 | 12 | $830M | $831M | 101c | 0 |
| Sep 30, 2024 | 12 | $373M | $371M | 100c | 0 |
| Jun 30, 2024 | 12 | $124M | $124M | 100c | 0 |
| Mar 31, 2024 | 7 | $67.7M | $67.9M | 101c | 0 |
| Dec 31, 2023 | 6 | $61.1M | $61.3M | 101c | 0 |
| Sep 30, 2023 | 6 | $58.5M | $58.4M | 101c | 0 |
| Jun 30, 2023 | 6 | $51.4M | $50.7M | 101c | 0 |
| Mar 31, 2023 | 5 | $39.2M | $38.7M | 100c | 0 |
| Dec 31, 2022 | 4 | $35.7M | $34.9M | 99c | 0 |
| Sep 30, 2022 | 1 | $40.3M | $38.3M | 96c | 0 |
| Dec 31, 2021 | 1 | $10.4M | $10.4M | 100c | 0 |
What changed
- Maturity extended (observed)Jun 30, 2026
- New lender joined a facilityJun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Lender left a facilityDec 31, 2025
- New lender joined a facilityDec 31, 2025
- Spread increasedDec 31, 2025
- Maturity shortened (observed)Dec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Maturity extended (observed)Sep 30, 2025
- New lender joined a facilitySep 30, 2025
- Maturity shortened (observed)Sep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- Lender left a facilityJun 30, 2025
- Lender left a facilityJun 30, 2025
- Maturity shortened (observed)Jun 30, 2025
- New lender joined a facilityMar 31, 2025
- Facility left every BDC scheduleMar 31, 2025
- New lender joined a facilityMar 31, 2025
- New lender joined a facilityDec 31, 2024
- Lender left a facilityDec 31, 2024
- Lender left a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Lender left a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Maturity extended (observed)Dec 31, 2024
- Maturity extended (observed)Dec 31, 2024
- Spread changed (observed)Sep 30, 2024
- Maturity extended (observed)Sep 30, 2024
- Spread increasedSep 30, 2024
- Maturity extended (observed)Sep 30, 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
- SEDGWICK CLAIMS SERVICESderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 20 BDCsderived
- Industry
- Professional Servicesreportedas one filer wrote it