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.
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Facility
A••••• P•••••• S•••••••• L•• delayed draw term loan
lien unstatedoff every schedule since Sep 30, 2025Professional Services
Principal held
at least $1.5M
sum of BDC pieces, a lower bound
Fair value
$1.5M
102c on cost
Unfunded
n/a
pieces' unfunded commitments
Pricing
SOFR+450 bp
modal across pieces
PIK
none stated
Maturity
Aug 11, 2031
tagged by the filer
Lenders
0 holding
5 exited · 0 named on a deal
On the tape
5 quarters
Dec 31, 2023 to Sep 30, 2025
Lender group
every BDC that holds or held a piece; each row is that lender's own figures
| Lender | Status | Principal | Fair value | Spread | Held |
|---|---|---|---|---|---|
| A•••• P•••••• C••••• F•••• L•• AUDAX PDB MANAGEMENT COMPANY, LLC | exited · 2 pieces | $1.5M | $1.5M 102c | 450 bp | Dec 31, 2024 to Sep 30, 2025 |
| N•••• H•••• P•••••• I••••• F••• A• L•• MS CAPITAL PARTNERS ADVISER INC. | exited | n/a | n/a | Sep 30, 2024 to Jun 30, 2025 | |
| S• I••••••••• F••• I• L•• MS CAPITAL PARTNERS ADVISER INC. | exited | n/a | n/a | Dec 31, 2024 to Dec 31, 2024 | |
| N••••• C•••••••• D••••• L•••••• C•••• CHURCHILL DLC ADVISOR LLC | exited | n/a | n/a | Dec 31, 2023 to Dec 31, 2024 | |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• CHURCHILL PCIF ADVISOR LLC | exited | n/a | n/a | Dec 31, 2023 to Dec 31, 2024 |
Facility through time
pieces summed per quarter end across the BDCs holding it
| Quarter end | BDCs | Principal held | On cost | Spread | PIK | Maturity |
|---|---|---|---|---|---|---|
| Sep 30, 2025 | 1 | $1.5M | 102c | 450 bp | Aug 11, 2031 | |
| Jun 30, 2025 | 1 | n/a | n/a | |||
| Dec 31, 2024 | 5 | n/a | n/a | Aug 11, 2031 | ||
| Sep 30, 2024 | 1 | n/a | n/a | |||
| Dec 31, 2023 | 2 | n/a | n/a |
What changed on this facility
position and facility grain, including routine
- Facility left every BDC schedule Sep 30, 2025A••••• P•••••• S•••••••• L•• delayed draw (unknown) left every BDC schedule after 2025-09-30 (6 lenders, $1.5M last held)
- Lender left a facility Sep 30, 2025A•••• P•••••• C••••• F•••• L•• no longer holds A••••• P•••••• S•••••••• L•• delayed draw after 2025-09-30; 8 BDC(s) still hold it
- Lender left a facility Dec 31, 2024N••••• C•••••••• D••••• L•••••• C•••• no longer holds A••••• P•••••• S•••••••• L•• delayed draw after 2024-12-31; 6 BDC(s) still hold it
- Lender left a facility Dec 31, 2024N••••• C•••••••• P•••••• C•••••• I••••• F••• no longer holds A••••• P•••••• S•••••••• L•• delayed draw after 2024-12-31; 6 BDC(s) still hold it
- New lender joined a facility Sep 30, 2024N•••• H•••• P•••••• I••••• F••• A• L•• joins A••••• P•••••• S•••••••• L•• delayed draw (unknown) held by 2 other BDCs
Other pieces of this borrower's structure
How this facility is known
- Grain
- A••••• P•••••• S•••••••• L•• x delayed draw term loanderivedborrower group x kind x lien; tranches with different maturities sit under it
- Size
- lower bound: sum of BDC piecesderived
- Status
- unknownsignalnon-accrual, default and restructuring are not on this tape and are never inferred from a mark
- Origin
- bdc tapereported