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
D••• I•••••••• H••••••• L•• first lien term loan
first lienheld todayAsset Management & Custody Banks
Principal held
at least $161M
sum of BDC pieces, a lower bound
Fair value
$158M
99c on cost
Unfunded
n/a
pieces' unfunded commitments
Pricing
SOFR+463 bp
pieces from 450 bp to 488 bp
PIK
none stated
Maturity
Dec 20, 2030
tagged by the filer
Lenders
8 holding
5 exited · 0 named on a deal
On the tape
14 quarters
Mar 31, 2023 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 |
|---|---|---|---|---|---|
| G•••• C•••••• B•• 3• I••• GC ADVISORS LLC | dormant · 3 pieces | $2.1M | $2.1M 100c | 550 bp | Dec 31, 2023 to Mar 31, 2024 |
| N•• M••••••• G••••••• I• B••• L••••• NEW MOUNTAIN FINANCE ADVISERS, L.L.C. | exited · 6 pieces | $18.4M | $13.9M 101c | 525 bp | Dec 31, 2023 to Sep 30, 2025 |
| N•• M••••••• G••••••• I• I••••• F•••• L••••• NEW MOUNTAIN FINANCE ADVISERS, L.L.C. | exited · 6 pieces | $5.9M | $4.0M 101c | 525 bp | Dec 31, 2023 to Sep 30, 2025 |
| N•• M••••••• F•••••• C••• NEW MOUNTAIN FINANCE ADVISERS, L.L.C. | exited | $3.0M | $0 | Jun 30, 2024 to Sep 30, 2025 | |
| N•• S•• I• I••• NEW MOUNTAIN FINANCE ADVISERS, L.L.C. | exited | $2.0M | $0 | Jun 30, 2024 to Sep 30, 2025 | |
| C••••••• C•••••• B••• I••• CRESCENT CAP ADVISORS, LLC | exited | $1.6M | $1.6M 102c | 600 bp | Mar 31, 2023 to Sep 30, 2023 |
| A••• S•••••••• I••••• F••• A••• CAPITAL MANAGEMENT LLC | held · 3 pieces | $53.6M | $53.2M 100c | 488 bp | Dec 31, 2023 to Jun 30, 2026 |
| G•••• C•••••• P•••••• C••••• F••• GC ADVISORS LLC | held · 6 pieces | $47.9M | $46.6M 98c | 463 bp | Dec 31, 2023 to Jun 30, 2026 |
| G•••• C•••••• B•• 4• I••• GC ADVISORS LLC | held · 6 pieces | $28.2M | $27.4M 98c | 463 bp | Dec 31, 2023 to Jun 30, 2026 |
| G•••• C•••••• D••••• L•••••• C••• GC ADVISORS LLC | held · 5 pieces | $9.9M | $9.6M 98c | 463 bp | Dec 31, 2023 to Jun 30, 2026 |
| A••• C•••••• C••• A••• CAPITAL MANAGEMENT LLC | held | $8.8M | $8.7M 99c | 450 bp | Dec 31, 2023 to Jun 30, 2026 |
| G•••• C•••••• B••• I••• GC ADVISORS LLC | held · 6 pieces | $7.2M | $7.0M 98c | 463 bp | Dec 31, 2023 to Jun 30, 2026 |
| G•••• C•••••• D••••• L•••••• U•••••••• C••• GC ADVISORS LLC | held · 5 pieces | $5.2M | $5.0M 98c | 463 bp | Dec 31, 2023 to Jun 30, 2026 |
| S•••••••• P•••••• C••••• F••• L•• STEPSTONE GROUP PRIVATE DEBT LLC | held | $489,000 | $489,000 100c | 450 bp | Jun 30, 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 | 8 | $161M | 99c | 450 bp | Dec 20, 2030 | |
| Mar 31, 2026 | 8 | $171M | 100c | 450 bp | Dec 20, 2030 | |
| Dec 31, 2025 | 8 | $145M | 101c | 450 bp | Dec 20, 2030 | |
| Sep 30, 2025 | 12 | $220M | 101c | 525 bp | Dec 20, 2030 | |
| Jun 30, 2025 | 12 | $154M | 101c | 525 bp | Dec 20, 2030 | |
| Mar 31, 2025 | 12 | $153M | 101c | 525 bp | Dec 20, 2030 | |
| Dec 31, 2024 | 12 | $183M | 101c | 525 bp | Dec 20, 2030 | |
| Sep 30, 2024 | 12 | $147M | 101c | 525 bp | Dec 20, 2030 | |
| Jun 30, 2024 | 12 | $142M | 101c | 550 bp | Dec 20, 2030 | |
| Mar 31, 2024 | 10 | $109M | 100c | 550 bp | Dec 1, 2030 | |
| Dec 31, 2023 | 10 | $91.3M | 100c | 550 bp | Dec 1, 2030 | |
| Sep 30, 2023 | 1 | $1.6M | 102c | 600 bp | ||
| Jun 30, 2023 | 1 | $1.6M | 101c | 575 bp | Dec 1, 2026 | |
| Mar 31, 2023 | 1 | $1.6M | 99c | 625 bp | Dec 1, 2026 |
What changed on this facility
position and facility grain, including routine
- Spread changed (observed) Dec 31, 2025D••• I•••••••• H••••••• L•• term loan: spread moved from 5.25% to 4.50%
- Lender left a facility Sep 30, 2025N•• M••••••• G••••••• I• B••• L••••• no longer holds D••• I•••••••• H••••••• L•• term loan after 2025-09-30; 8 BDC(s) still hold it
- Lender left a facility Sep 30, 2025N•• M••••••• G••••••• I• I••••• F•••• L••••• no longer holds D••• I•••••••• H••••••• L•• term loan after 2025-09-30; 8 BDC(s) still hold it
- Lender left a facility Sep 30, 2025N•• M••••••• F•••••• C••• no longer holds D••• I•••••••• H••••••• L•• term loan after 2025-09-30; 8 BDC(s) still hold it
- Lender left a facility Sep 30, 2025N•• S•• I• I••• no longer holds D••• I•••••••• H••••••• L•• term loan after 2025-09-30; 8 BDC(s) still hold it
- New lender joined a facility Jun 30, 2024N•• M••••••• F•••••• C••• joins D••• I•••••••• H••••••• L•• term loan (first lien) held by 11 other BDCs
- New lender joined a facility Jun 30, 2024N•• S•• I• I••• joins D••• I•••••••• H••••••• L•• term loan (first lien) held by 12 other BDCs
- New lender joined a facility Jun 30, 2024S•••••••• P•••••• C••••• F••• L•• joins D••• I•••••••• H••••••• L•• term loan (first lien) held by 11 other BDCs
- New lender joined a facility Dec 31, 2023A••• S•••••••• I••••• F••• joins D••• I•••••••• H••••••• L•• term loan (first lien) held by 10 other BDCs
- New lender joined a facility Dec 31, 2023G•••• C•••••• P•••••• C••••• F••• joins D••• I•••••••• H••••••• L•• term loan (first lien) held by 10 other BDCs
- New lender joined a facility Dec 31, 2023G•••• C•••••• B•• 4• I••• joins D••• I•••••••• H••••••• L•• term loan (first lien) held by 10 other BDCs
- New lender joined a facility Dec 31, 2023N•• M••••••• G••••••• I• B••• L••••• joins D••• I•••••••• H••••••• L•• term loan (first lien) held by 10 other BDCs
- New lender joined a facility Dec 31, 2023G•••• C•••••• D••••• L•••••• C••• joins D••• I•••••••• H••••••• L•• term loan (first lien) held by 10 other BDCs
- New lender joined a facility Dec 31, 2023A••• C•••••• C••• joins D••• I•••••••• H••••••• L•• term loan (first lien) held by 10 other BDCs
- New lender joined a facility Dec 31, 2023G•••• C•••••• B••• I••• joins D••• I•••••••• H••••••• L•• term loan (first lien) held by 10 other BDCs
- New lender joined a facility Dec 31, 2023N•• M••••••• G••••••• I• I••••• F•••• L••••• joins D••• I•••••••• H••••••• L•• term loan (first lien) held by 10 other BDCs
- New lender joined a facility Dec 31, 2023G•••• C•••••• D••••• L•••••• U•••••••• C••• joins D••• I•••••••• H••••••• L•• term loan (first lien) held by 10 other BDCs
- New lender joined a facility Dec 31, 2023G•••• C•••••• B•• 3• I••• joins D••• I•••••••• H••••••• L•• term loan (first lien) held by 10 other BDCs
- Lender left a facility Sep 30, 2023C••••••• C•••••• B••• I••• no longer holds D••• I•••••••• H••••••• L•• term loan after 2023-09-30; 8 BDC(s) still hold it
Other pieces of this borrower's structure
- at least $98.7M
- at least $1.8M
- at least $465,000
- $6.7M
How this facility is known
- Grain
- D••• I•••••••• H••••••• 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
- Status
- unknownsignalnon-accrual, default and restructuring are not on this tape and are never inferred from a mark
- Origin
- bdc tapereported