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.
Borrower
Anaplan, Inc
Softwaregroup grade Aon a schedule nowsponsor unattributed
Also written as: Firs lien; First Lien; Inc. Fourth Amendment; Undrawn Commitment
Principal held
at least $1.5B
sum of BDC pieces, a lower bound
Fair value
$1.5B
99c on cost, debt pieces
Unfunded
$101M
commitments not yet drawn
BDC lenders
31
20 on the latest quarter
Facilities
4
1 equity pieces beside them
Next maturity
Jun 1, 2028
$2.5M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
11
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 $878M | 98c | SOFR+450 bp | Jun 21, 2029 | 26 |
| revolver lien unstated | at least $648M | 99c | S+450 bp | Jun 21, 2029 | 3 |
| first lien revolver first lien | at least $0 | n/a | SOFR+450 bp | Jun 21, 2028 | 10 |
| other lien unstated | unknown | n/a | unstated | 10 |
Equity pieces beside the debt: equity ($4.1M fair value, 5 BDCs)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| AGL Private Credit Income Fund | term loan first lien First Lien Term Loan Reference Rate and Spread SOFR + 4.50% All In Rate 8.17% Acquisition | $39.8M | $39.8M 100c | SOFR+450 bp |
| AGL Private Credit Income Fund | revolver first lien First Lien Revolving Loan Reference Rate and Spread SOFR + 4.50% Acquisition Date 5/20/202 | $0 | $0 | SOFR+450 bp |
| AGL Private Credit Income Fund | revolver first lien Revolving Loan | n/a | n/a | |
| ARES CAPITAL CORP | unstated lien unstated | n/a | n/a | |
| ARES CAPITAL CORP | term loan first lien First lien senior secured loan | $5.8M | $5.7M 98c | S+450 bp |
| Blackstone Private Credit Fund | revolver lien unstated Non-Affiliated Issuer | $624M | $614M 99c | S+450 bp |
| Blackstone Private Credit Fund | revolver lien unstated Revolver | n/a | n/a | |
| Blackstone Secured Lending Fund | revolver lien unstated Non-Affiliated Issuer | $24.1M | $23.8M 99c | S+450 bp |
| Blackstone Secured Lending Fund | revolver lien unstated Revolver | n/a | n/a | |
| Blue Owl Capital Corp | revolver first lien First lien senior secured revolving loan | n/a | $-203,000 | |
| Blue Owl Capital Corp | term loan first lien First lien senior secured loan | Non-Affiliated | $63.4M | $62.3M 98c | S+450 bp |
| Blue Owl Capital Corp II | term loan first lien First lien senior secured loan | Non Affiliated | $2.8M | $2.7M 98c | S+450 bp |
| Blue Owl Capital Corp II | revolver first lien First lien senior secured revolving loan | Non-Affiliated | n/a | n/a | |
| Blue Owl Credit Income Corp. | term loan first lien First lien senior secured loan | Non-Affiliated Issuer | $261M | $256M 98c | S+450 bp |
| Blue Owl Credit Income Corp. | revolver first lien First lien senior secured revolving loan | Non-controlled/non-affiliated | n/a | n/a | |
| Blue Owl Technology Finance Corp. | term loan first lien First lien senior secured loan | Non-Affiliated Issuer | $123M | $121M 98c | S+450 bp |
| Blue Owl Technology Finance Corp. | revolver first lien First lien senior secured revolving loan | Non-Affiliated Issuer | n/a | $-227,000 | |
| Blue Owl Technology Income Corp. | term loan first lien First lien senior secured loan | $101M | $98.8M 98c | S+450 bp |
| Blue Owl Technology Income Corp. | revolver first lien First lien senior secured revolving loan | n/a | $-109,000 | |
| Golub Capital BDC 4, Inc. | equity equity LP interest | n/a | $1.4M 159c | |
| Golub Capital BDC 4, Inc. | term loan first lien One stop 1 | $32.6M | $31.8M 98c | S+450 bp |
| Golub Capital BDC 4, Inc. | term loan first lien One stop 2 | $0 | $-7,000 | |
| GOLUB CAPITAL BDC, Inc. | equity equity LP interest | Non-Affiliated Issuer | n/a | $1.5M 122c | |
| GOLUB CAPITAL BDC, Inc. | term loan first lien One stop 2 | Non-Affiliated Issuer | $0 | $-8,000 | |
| GOLUB CAPITAL BDC, Inc. | term loan first lien One stop 1 | Non-Affiliated Issuer | $57.9M | $56.4M 97c | S+450 bp |
| GOLUB CAPITAL DIRECT LENDING CORP | term loan first lien One stop 2 | $0 | $-5,000 | |
| GOLUB CAPITAL DIRECT LENDING CORP | equity equity LP interest | n/a | $535,000 159c | |
| GOLUB CAPITAL DIRECT LENDING CORP | term loan first lien One stop 1 | $8.6M | $8.4M 98c | S+450 bp |
| Golub Capital Direct Lending Unlevered Corp | equity equity LP interest | n/a | $580,000 159c | |
| Golub Capital Direct Lending Unlevered Corp | term loan first lien One stop 2 | $0 | $-5,000 | |
| Golub Capital Direct Lending Unlevered Corp | term loan first lien One stop 1 | $9.2M | $9.0M 98c | S+450 bp |
| Golub Capital Private Credit Fund | term loan first lien One stop | $9.9M | $9.6M 98c | S+450 bp |
| New Mountain Guardian IV BDC, L.L.C. | term loan first lien First Lien 2 | $3.3M | $3.2M 98c | S+450 bp |
| New Mountain Guardian IV BDC, L.L.C. | term loan first lien First Lien 1 | $34.6M | $33.9M 98c | S+450 bp |
| New Mountain Guardian IV BDC, L.L.C. | term loan first lien First Lien - Undrawn | $2.5M | $-48,000 | |
| New Mountain Guardian IV Income Fund, L.L.C. | term loan first lien First Lien - Undrawn | Non-Affiliated Issuer | $47,000 | $-1,000 | |
| New Mountain Guardian IV Income Fund, L.L.C. | term loan first lien First Lien | Non-Affiliated Issuer | $10.0M | $9.8M 98c | S+450 bp |
| New Mountain Private Credit Fund | term loan first lien First Lien | Non-Affiliated Issuer | $40.6M | $39.8M 99c | S+450 bp |
| NMF SLF I, Inc. | term loan first lien First Lien | Non-Affiliated Issuer | $29.4M | $28.9M 98c | S+450 bp |
| Stepstone Private Credit Fund LLC | term loan first lien Term Loan | NCNA Debt Inv. | First Lien Senior Secured Loan | 6/21/2029 One | $17.7M | $16.8M 100c | SOFR+450 bp |
| Stepstone Private Credit Fund LLC | term loan first lien Term Loan | NCNA Debt Inv. | First Lien Senior Secured Loan | 6/21/2029 | $4.9M | $4.7M 95c | SOFR+450 bp |
| Stone Point Credit Corp | term loan first lien First Lien Term Loan, Due 6/21/2029 | $20.4M | $20.3M 99c | SOFR+450 bp |
| Stone Point Credit Corp | revolver first lien First Lien Revolving Loan, Due 6/21/2028 | n/a | $-7,000 | SOFR+450 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 | 20 | $1.5B | $1.5B | 99c | 0 |
| Mar 31, 2026 | 21 | $1.6B | $1.6B | 99c | 0 |
| Dec 31, 2025 | 21 | $1.7B | $1.7B | 100c | 0 |
| Sep 30, 2025 | 21 | $1.7B | $1.7B | 100c | 0 |
| Jun 30, 2025 | 24 | $1.6B | $1.6B | 100c | 0 |
| Mar 31, 2025 | 26 | $1.6B | $1.6B | 101c | 0 |
| Dec 31, 2024 | 27 | $2.8B | $2.8B | 101c | 0 |
| Sep 30, 2024 | 27 | $1.6B | $1.6B | 101c | 0 |
| Jun 30, 2024 | 26 | $1.6B | $1.6B | 101c | 0 |
| Mar 31, 2024 | 28 | $1.5B | $1.5B | 101c | 0 |
| Dec 31, 2023 | 29 | $1.6B | $1.6B | 101c | 0 |
| Sep 30, 2023 | 3 | $539M | $536M | 101c | 0 |
What changed
- Maturity approachingJun 21, 2028
- Lender left a facilityMar 31, 2026
- New lender joined a facilityMar 31, 2026
- Lender left a facilityDec 31, 2025
- Spread changed (observed)Jun 30, 2025
- Spread changed (observed)Jun 30, 2025
- Lender left a facilityJun 30, 2025
- Lender left a facilityJun 30, 2025
- Lender left a facilityJun 30, 2025
- Spread changed (observed)Jun 30, 2025
- Lender left a facilityMar 31, 2025
- Lender left a facilityMar 31, 2025
- Lender left a facilityDec 31, 2024
- Spread changed (observed)Sep 30, 2024
- Spread changed (observed)Sep 30, 2024
- Spread changed (observed)Sep 30, 2024
- New lender joined a facilitySep 30, 2024
- Spread changed (observed)Jun 30, 2024
- Spread changed (observed)Jun 30, 2024
- New lender joined a facilityJun 30, 2024
- Spread changed (observed)Jun 30, 2024
- Lender left a facilityMar 31, 2024
- New lender joined a facilityDec 31, 2023
- New lender joined a facilitySep 30, 2023
- Lender left a facilityMar 31, 2023
- Lender left a facilityMar 31, 2023
- Lender left a facilityDec 31, 2022
- New lender joined a facilityDec 31, 2022
- New lender joined a facilityDec 31, 2022
- New lender joined a facilityDec 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
- ANAPLANderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 31 BDCsderived
- Industry
- Softwarereportedas one filer wrote it