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
Minerva Holdco, Inc
Also written as: Athenahealth, Inc.; Minerva Bidco, Ltd; Minerva Merger Sub, Inc; Senior A
Principal held
unknown
sum of BDC pieces, a lower bound
Fair value
$386M
n/a on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
8
5 on the latest quarter
Facilities
1
1 equity pieces beside them
Next maturity
unstated
no dated debt inside 24 months
On the tape since
Sep 30, 2022
latest Jun 30, 2026
Events
2
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated exited Mar 31, 2023 | unknown | 93c | PIK 10.75% | unstated | 2 |
Equity pieces beside the debt: preferred equity ($386M fair value, 7 BDCs)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| Blue Owl Capital Corp | preferred equity equity Senior A Preferred Stock | Non-Affiliated | n/a | $13.9M 98c | PIK 10.75% |
| Blue Owl Capital Corp II | preferred equity equity Senior A Preferred Stock | Non Affiliated | n/a | $1.5M 97c | PIK 10.75% |
| Blue Owl Credit Income Corp. | preferred equity equity Senior A Preferred Stock | Non-Affiliated Issuer | n/a | $154M 97c | PIK 10.75% |
| Blue Owl Technology Finance Corp. | preferred equity equity Senior A Preferred Stock | Non-Affiliated Issuer | n/a | $154M 98c | PIK 10.75% |
| Blue Owl Technology Income Corp. | preferred equity equity Senior A Preferred Stock | n/a | $61.8M 97c | PIK 10.75% |
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 | 5 | $0 | $0 | n/a | 0 |
| Mar 31, 2026 | 5 | $0 | $0 | n/a | 0 |
| Dec 31, 2025 | 5 | $0 | $0 | n/a | 0 |
| Sep 30, 2025 | 5 | $0 | $0 | n/a | 0 |
| Jun 30, 2025 | 5 | $0 | $0 | n/a | 0 |
| Mar 31, 2025 | 5 | $0 | $0 | n/a | 0 |
| Dec 31, 2024 | 6 | $0 | $0 | n/a | 0 |
| Sep 30, 2024 | 7 | $0 | $0 | n/a | 0 |
| Jun 30, 2024 | 7 | $0 | $0 | n/a | 0 |
| Mar 31, 2024 | 7 | $0 | $0 | n/a | 0 |
| Dec 31, 2023 | 7 | $0 | $0 | n/a | 0 |
| Sep 30, 2023 | 6 | $0 | $0 | n/a | 0 |
| Jun 30, 2023 | 7 | $0 | $0 | n/a | 0 |
| Mar 31, 2023 | 7 | $0 | $0 | n/a | 0 |
| Dec 31, 2022 | 7 | $0 | $0 | n/a | 0 |
| Sep 30, 2022 | 2 | $7.1M | $5.7M | 79c | 0 |
What changed
- New lender joined a facilityMar 31, 2023
- Lender left a facilityMar 31, 2023
- Facility left every BDC scheduleMar 31, 2023
- New borrower on a BDC scheduleSep 30, 2022
- Lender left a facilitySep 30, 2022
Sponsor
- Hellman & Friedman LLC
- Form D signer consensus, grade Bestimated"Form D vehicle Minerva Parent, LP (), signers: Sameer Narang; Arrie Park; Judd Sher"
- Hellman & Friedman LLC
- the sponsor's own portfolio page lists a company of this nameestimatedhf.com"portfolio card on https://hf.com/our-portfolio/: athenahealth | Sectors | Healthcare | Status | Current | Geography"
Identity
- Group key
- MINERVAderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 8 BDCsderived