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
W••••• E••••••••• G••••• L•• first lien term loan
Principal held
at least $223M
sum of BDC pieces, a lower bound
Fair value
$217M
100c on cost
Unfunded
n/a
pieces' unfunded commitments
Pricing
SOFR+425 bp
pieces from 425 bp to 450 bp
PIK
none stated
Maturity
Oct 2, 2028
tagged by the filer
Lenders
14 holding
3 exited · 0 named on a deal
On the tape
17 quarters
Dec 31, 2021 to Jun 30, 2026
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 |
|---|---|---|---|---|---|
| N•• M••••••• G••••••• I•• B••• L••••• New M••••••• Finance Advisers BDC, L.L.C | dormant · 4 pieces | $36.6M | $34.7M 100c | 550 bp | Dec 31, 2022 to Sep 30, 2024 |
| L•••• R•••• F•••••• C•••• MOUNT LOGAN MANAGEMENT | dormant | $4.6M | $4.6M 100c | 500 bp | Dec 31, 2022 to Mar 31, 2025 |
| A• P•••••• C••••• I•••••••• C••• AB PRIVATE CREDIT INVESTORS LLC | exited · 2 pieces | $12.3M | $12.3M 100c | 500 bp | Dec 31, 2024 to Dec 31, 2024 |
| M••••• A••••• I••••••••• P•••••• L•••••• APOLLO CREDIT MANAGEMENT, LLC | exited | $8.0M | $8.0M 100c | 585 bp | Dec 31, 2023 to Dec 31, 2023 |
| B•••••••• P•••••• C••••• F••• BLACKROCK CAPITAL INVESTMENT ADVISORS, LLC | exited · 2 pieces | n/a | n/a | Mar 31, 2024 to Mar 31, 2024 | |
| N•• M••••••• G••••••• I• B••• L••••• NEW MOUNTAIN FINANCE ADVISERS, L.L.C. | held · 9 pieces | $38.2M | $37.0M 100c | 425 bp | Dec 31, 2023 to Jun 30, 2026 |
| A••• C•••••• C••• A••• CAPITAL MANAGEMENT LLC | held · 5 pieces | $32.5M | $32.2M 99c | 425 bp | Mar 31, 2024 to Jun 30, 2026 |
| N•• S•• I• I••• NEW MOUNTAIN FINANCE ADVISERS, L.L.C. | held · 5 pieces | $31.4M | $30.9M 100c | 425 bp | Dec 31, 2022 to Jun 30, 2026 |
| F• K•• C•••••• C••• FS/KKR ADVISOR, LLC | held · 5 pieces | $26.2M | $26.2M 100c | 450 bp | Dec 31, 2021 to Jun 30, 2026 |
| N•• M••••••• P•••••• C••••• F••• NEW MOUNTAIN FINANCE ADVISERS, L.L.C. | held · 4 pieces | $26.0M | $24.6M 100c | 425 bp | Dec 31, 2023 to Jun 30, 2026 |
| G•••• C•••••• P•••••• C••••• F••• GC ADVISORS LLC | held · 8 pieces | $25.1M | $25.0M 100c | 425 bp | Dec 31, 2024 to Jun 30, 2026 |
| G•••• C•••••• B••• I••• GC ADVISORS LLC | held · 8 pieces | $14.8M | $14.7M 100c | 425 bp | Dec 31, 2024 to Jun 30, 2026 |
| N•• M••••••• G••••••• I• I••••• F•••• L••••• NEW MOUNTAIN FINANCE ADVISERS, L.L.C. | held · 8 pieces | $9.9M | $9.7M 100c | 425 bp | Dec 31, 2023 to Jun 30, 2026 |
| G•••• C•••••• B•• 4• I••• GC ADVISORS LLC | held · 8 pieces | $6.1M | $6.1M 100c | 425 bp | Dec 31, 2024 to Jun 30, 2026 |
| B• P••••••• L•••••• C••• BC PARTNERS ADVISORS L.P. | held | $6.0M | $6.0M 100c | 450 bp | Sep 30, 2025 to Jun 30, 2026 |
| A• P•••••• L•••••• F••• AB PRIVATE CREDIT INVESTORS LLC | held | $2.3M | $2.3M 100c | 425 bp | Sep 30, 2025 to Jun 30, 2026 |
| N•• M••••••• F•••••• C••• NEW MOUNTAIN FINANCE ADVISERS, L.L.C. | held | $2.0M | $0 | Dec 31, 2021 to Jun 30, 2026 | |
| G•••• C•••••• D••••• L•••••• C••• GC ADVISORS LLC | held · 7 pieces | $1.4M | $1.4M 100c | 425 bp | Dec 31, 2024 to Jun 30, 2026 |
| G•••• C•••••• D••••• L•••••• U•••••••• C••• GC ADVISORS LLC | held · 7 pieces | $776,000 | $773,000 100c | 425 bp | Dec 31, 2024 to Jun 30, 2026 |
Facility through time
pieces summed per quarter end across the BDCs holding it
| Quarter end | BDCs | Principal held | On cost | Spread | PIK | Maturity |
|---|---|---|---|---|---|---|
| Jun 30, 2026 | 14 | $223M | 100c | 425 bp | Oct 2, 2028 | |
| Mar 31, 2026 | 14 | $218M | 100c | 425 bp | Oct 2, 2028 | |
| Dec 31, 2025 | 12 | $261M | 100c | 450 bp | 13.00% | May 1, 2033 |
| Sep 30, 2025 | 14 | $220M | 100c | 450 bp | Oct 2, 2028 | |
| Jun 30, 2025 | 12 | $222M | 100c | 500 bp | Oct 1, 2028 | |
| Mar 31, 2025 | 13 | $219M | 100c | 500 bp | Oct 2, 2028 | |
| Dec 31, 2024 | 14 | $411M | 100c | 500 bp | 13.00% | May 1, 2033 |
| Sep 30, 2024 | 8 | $171M | 100c | 550 bp | Oct 4, 2028 | |
| Jun 30, 2024 | 8 | $156M | 100c | 550 bp | Oct 4, 2027 | |
| Mar 31, 2024 | 9 | $153M | 100c | 550 bp | Oct 4, 2028 | |
| Dec 31, 2023 | 9 | $296M | 100c | 575 bp | Oct 29, 2027 | |
| Sep 30, 2023 | 5 | $133M | 100c | 575 bp | Oct 29, 2027 | |
| Jun 30, 2023 | 5 | $133M | 100c | 625 bp | Oct 29, 2027 | |
| Mar 31, 2023 | 5 | $134M | 100c | 625 bp | Oct 29, 2027 | |
| Dec 31, 2022 | 5 | $236M | 99c | 600 bp | Oct 29, 2027 | |
| Sep 30, 2022 | 2 | $75.4M | 100c | 600 bp | Oct 29, 2027 | |
| Dec 31, 2021 | 2 | $48.8M | 100c | 625 bp | Oct 4, 2027 |
What changed on this facility
position and facility grain, including routine
- Maturity extended (observed) Dec 31, 2025W••••• E••••••••• G••••• L•• term loan: maturity moved from 2028-10-02 to 2033-05-01
- PIK interest appears Dec 31, 2025W••••• E••••••••• G••••• L•• term loan: PIK interest of 13.00% appears (was cash pay)
- Spread changed (observed) Sep 30, 2025W••••• E••••••••• G••••• L•• term loan: spread moved from 5.00% to 4.50%
- New lender joined a facility Sep 30, 2025B• P••••••• L•••••• C••• joins W••••• E••••••••• G••••• L•• term loan (first lien) held by 13 other BDCs
- New lender joined a facility Sep 30, 2025A• P•••••• L•••••• F••• joins W••••• E••••••••• G••••• L•• term loan (first lien) held by 13 other BDCs
- Maturity extended (observed) Dec 31, 2024W••••• E••••••••• G••••• L•• term loan: maturity moved from 2027-10-01 to 2033-05-01
- PIK interest appears Dec 31, 2024W••••• E••••••••• G••••• L•• term loan: PIK interest of 13.00% appears (was cash pay)
- New lender joined a facility Dec 31, 2024G•••• C•••••• P•••••• C••••• F••• joins W••••• E••••••••• G••••• L•• term loan (first lien) held by 14 other BDCs
- New lender joined a facility Dec 31, 2024G•••• C•••••• B••• I••• joins W••••• E••••••••• G••••• L•• term loan (first lien) held by 14 other BDCs
- New lender joined a facility Dec 31, 2024A• P•••••• C••••• I•••••••• C••• joins W••••• E••••••••• G••••• L•• term loan (first lien) held by 14 other BDCs
- Lender left a facility Dec 31, 2024A• P•••••• C••••• I•••••••• C••• no longer holds W••••• E••••••••• G••••• L•• term loan after 2024-12-31; 14 BDC(s) still hold it
- New lender joined a facility Dec 31, 2024G•••• C•••••• B•• 4• I••• joins W••••• E••••••••• G••••• L•• term loan (first lien) held by 14 other BDCs
- New lender joined a facility Dec 31, 2024G•••• C•••••• D••••• L•••••• C••• joins W••••• E••••••••• G••••• L•• term loan (first lien) held by 14 other BDCs
- New lender joined a facility Dec 31, 2024G•••• C•••••• D••••• L•••••• U•••••••• C••• joins W••••• E••••••••• G••••• L•• term loan (first lien) held by 14 other BDCs
- Maturity extended (observed) Sep 30, 2024W••••• E••••••••• G••••• L•• term loan: maturity moved from 2027-10-04 to 2028-10-04
- Maturity extended (observed) Mar 31, 2024W••••• E••••••••• G••••• L•• term loan: maturity moved from 2027-10-04 to 2028-10-04
- New lender joined a facility Mar 31, 2024A••• C•••••• C••• joins W••••• E••••••••• G••••• L•• term loan (first lien) held by 10 other BDCs
- Lender left a facility Mar 31, 2024B•••••••• P•••••• C••••• F••• no longer holds W••••• E••••••••• G••••• L•• term loan after 2024-03-31; 14 BDC(s) still hold it
- New lender joined a facility Mar 31, 2024B•••••••• P•••••• C••••• F••• joins W••••• E••••••••• G••••• L•• term loan (first lien) held by 10 other BDCs
- New lender joined a facility Dec 31, 2023N•• M••••••• G••••••• I• B••• L••••• joins W••••• E••••••••• G••••• L•• term loan (first lien) held by 8 other BDCs
- New lender joined a facility Dec 31, 2023N•• M••••••• G••••••• I• I••••• F•••• L••••• joins W••••• E••••••••• G••••• L•• term loan (first lien) held by 8 other BDCs
- Lender left a facility Dec 31, 2023M••••• A••••• I••••••••• P•••••• L•••••• no longer holds W••••• E••••••••• G••••• L•• term loan after 2023-12-31; 14 BDC(s) still hold it
- New lender joined a facility Dec 31, 2022L•••• R•••• F•••••• C•••• joins W••••• E••••••••• G••••• L•• term loan (first lien) held by 4 other BDCs
Other pieces of this borrower's structure
- at least $114M
- at least $38.1M
- at least $13.3M
- at least $10.0M
- at least $1.5M
- revolverexited Sep 30, 2025unknown
How this facility is known
- Grain
- W••••• E••••••••• G••••• L•• x first lien term loanderivedborrower group x kind x lien; tranches with different maturities sit under it
- Size
- lower bound: sum of BDC piecesderived
- Sponsor basis
- the sponsor's own portfolio page lists a company of this namederived
- Status
- unknownsignalnon-accrual, default and restructuring are not on this tape and are never inferred from a mark
- Origin
- bdc tapereported