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
S• N•••• 2• I•• first lien revolver
first lienheld todayGround Transportation
Principal held
at least $4.0M
sum of BDC pieces, a lower bound
Fair value
$3.9M
101c on cost
Unfunded
$15.5M
pieces' unfunded commitments
Pricing
SOFR+500 bp
pieces from 400 bp to 500 bp
PIK
none stated
Maturity
Jun 2, 2031
tagged by the filer
Lenders
8 holding
0 exited · 0 named on a deal
On the tape
9 quarters
Jun 30, 2024 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 |
|---|---|---|---|---|---|
| A••• S•••••••• I••••• F••• A••• CAPITAL MANAGEMENT LLC | held · 2 pieces | $2.1M | $2.1M 103c | 500 bp | Mar 31, 2025 to Jun 30, 2026 |
| A••• C•••••• C••• A••• CAPITAL MANAGEMENT LLC | held · 2 pieces | $1.2M | $1.2M 100c | 500 bp | Mar 31, 2026 to Jun 30, 2026 |
| S•••••••• P•••••• C••••• F••• L•• STEPSTONE GROUP PRIVATE DEBT LLC | held | $639,000 | $621,000 99c | 500 bp | Dec 31, 2025 to Jun 30, 2026 |
| N•••• H•••• P•••••• I••••• F••• L•• MS CAPITAL PARTNERS ADVISER INC. | held | n/a | n/a | Jun 30, 2024 to Jun 30, 2026 | |
| N•••• H•••• P•••••• I••••• F••• A• L•• MS CAPITAL PARTNERS ADVISER INC. | held | n/a | $-2,000 | Dec 31, 2024 to Jun 30, 2026 | |
| L••• P•••••• C••••• L•• MS CAPITAL PARTNERS ADVISER INC. | held | n/a | n/a | Dec 31, 2024 to Jun 30, 2026 | |
| T• S••••• B•• L•• MS CAPITAL PARTNERS ADVISER INC. | held | n/a | n/a | Dec 31, 2024 to Jun 30, 2026 | |
| M••••• S•••••• D••••• L•••••• F••• MS CAPITAL PARTNERS ADVISER INC. | held | n/a | n/a | 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 | 8 | $4.0M | 101c | 500 bp | Jun 2, 2031 | |
| Mar 31, 2026 | 8 | $1.1M | 106c | 475 bp | Jun 2, 2031 | |
| Dec 31, 2025 | 6 | $0 | n/a | 475 bp | Jun 2, 2031 | |
| Sep 30, 2025 | 6 | $0 | n/a | Jun 1, 2031 | ||
| Jun 30, 2025 | 2 | n/a | n/a | |||
| Mar 31, 2025 | 3 | $0 | n/a | Jun 1, 2031 | ||
| Dec 31, 2024 | 5 | n/a | n/a | |||
| Sep 30, 2024 | 1 | n/a | n/a | |||
| Jun 30, 2024 | 1 | n/a | n/a |
What changed on this facility
position and facility grain, including routine
- New lender joined a facility Mar 31, 2026A••• C•••••• C••• joins S• N•••• 2• I•• revolver (first lien) held by 7 other BDCs
- New lender joined a facility Dec 31, 2025S•••••••• P•••••• C••••• F••• L•• joins S• N•••• 2• I•• revolver (first lien) held by 6 other BDCs
- New lender joined a facility Mar 31, 2025A••• S•••••••• I••••• F••• joins S• N•••• 2• I•• revolver (first lien) held by 5 other BDCs
- New lender joined a facility Dec 31, 2024N•••• H•••• P•••••• I••••• F••• A• L•• joins S• N•••• 2• I•• revolver (first lien) held by 4 other BDCs
- New lender joined a facility Dec 31, 2024T• S••••• B•• L•• joins S• N•••• 2• I•• revolver (first lien) held by 4 other BDCs
- New lender joined a facility Dec 31, 2024L••• P•••••• C••••• L•• joins S• N•••• 2• I•• revolver (first lien) held by 4 other BDCs
- New lender joined a facility Dec 31, 2024M••••• S•••••• D••••• L•••••• F••• joins S• N•••• 2• I•• revolver (first lien) held by 4 other BDCs
Other pieces of this borrower's structure
- at least $200M
- at least $5.3M
- unknown
- delayed draw term loanexited Jun 30, 2025unknown
- revolverexited Jun 30, 2025unknown
How this facility is known
- Grain
- S• N•••• 2• I•• x first lien revolverderivedborrower 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