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
I•••••• M••• L•• first lien term loan
first lienheld todayInsurance Services
Principal held
at least $226M
sum of BDC pieces, a lower bound
Fair value
$225M
100c on cost
Unfunded
n/a
pieces' unfunded commitments
Pricing
SOFR+525 bp
pieces from 5 bp to 525 bp
PIK
none stated
Maturity
Nov 30, 2029
html_schedule
Lenders
9 holding
0 exited · 0 named on a deal
On the tape
15 quarters
Dec 31, 2022 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••• C•••••• C••• A••• CAPITAL MANAGEMENT LLC | held · 3 pieces | $112M | $112M 100c | 525 bp | Dec 31, 2022 to Jun 30, 2026 |
| N•••• H•••• P•••••• I••••• F••• L•• MS CAPITAL PARTNERS ADVISER INC. | held · 3 pieces | $44.9M | $44.5M 100c | 525 bp | Dec 31, 2024 to Jun 30, 2026 |
| M••••• S•••••• D••••• L•••••• F••• MS CAPITAL PARTNERS ADVISER INC. | held · 5 pieces | $24.4M | $24.1M 100c | 5 bp | Jun 30, 2024 to Jun 30, 2026 |
| A••• S•••••••• I••••• F••• A••• CAPITAL MANAGEMENT LLC | held | $21.9M | $21.7M 100c | 450 bp | Mar 31, 2026 to Jun 30, 2026 |
| T• S••••• B•• L•• MS CAPITAL PARTNERS ADVISER INC. | held · 3 pieces | $17.0M | $16.9M 101c | 525 bp | Dec 31, 2024 to Jun 30, 2026 |
| N•••• H•••• P•••••• I••••• F••• A• L•• MS CAPITAL PARTNERS ADVISER INC. | held · 3 pieces | $2.8M | $2.8M 100c | 525 bp | Dec 31, 2024 to Jun 30, 2026 |
| S• I••••••••• F••• I• L•• MS CAPITAL PARTNERS ADVISER INC. | held · 2 pieces | $983,000 | $957,000 99c | 525 bp | Dec 31, 2025 to Jun 30, 2026 |
| L••• P•••••• C••••• L•• MS CAPITAL PARTNERS ADVISER INC. | held · 2 pieces | $983,000 | $956,000 99c | 525 bp | Dec 31, 2025 to Jun 30, 2026 |
| S•••••••• P•••••• C••••• F••• L•• STEPSTONE GROUP PRIVATE DEBT LLC | held | $732,000 | $732,000 100c | 525 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 | 9 | $226M | 100c | 525 bp | Nov 30, 2029 | |
| Mar 31, 2026 | 9 | $185M | 100c | 525 bp | Nov 30, 2029 | |
| Dec 31, 2025 | 8 | $160M | 101c | 525 bp | Nov 30, 2029 | |
| Sep 30, 2025 | 6 | $124M | 101c | 525 bp | Nov 30, 2029 | |
| Jun 30, 2025 | 3 | $44.9M | 101c | 525 bp | Nov 30, 2029 | |
| Mar 31, 2025 | 3 | $36.5M | 101c | 525 bp | Nov 30, 2029 | |
| Dec 31, 2024 | 6 | $119M | 102c | 525 bp | Nov 30, 2030 | |
| Sep 30, 2024 | 3 | $30.8M | 100c | 575 bp | Nov 30, 2029 | |
| Jun 30, 2024 | 3 | $25.8M | 100c | 575 bp | Nov 30, 2029 | |
| Mar 31, 2024 | 1 | $15.9M | 100c | 575 bp | Nov 1, 2029 | |
| Dec 31, 2023 | 1 | $14.7M | 98c | 575 bp | Nov 1, 2029 | |
| Sep 30, 2023 | 1 | $26.5M | 100c | 675 bp | Nov 1, 2028 | |
| Jun 30, 2023 | 1 | $20.9M | 100c | 675 bp | Nov 1, 2028 | |
| Mar 31, 2023 | 1 | $19.1M | 97c | 700 bp | Nov 1, 2028 | |
| Dec 31, 2022 | 1 | $17.6M | 97c | 700 bp | Nov 1, 2028 |
What changed on this facility
position and facility grain, including routine
- New lender joined a facility Mar 31, 2026A••• S•••••••• I••••• F••• joins I•••••• M••• L•• term loan (first lien) held by 8 other BDCs
- New lender joined a facility Dec 31, 2025L••• P•••••• C••••• L•• joins I•••••• M••• L•• term loan (first lien) held by 7 other BDCs
- New lender joined a facility Dec 31, 2025S• I••••••••• F••• I• L•• joins I•••••• M••• L•• term loan (first lien) held by 7 other BDCs
- Maturity extended (observed) Dec 31, 2024I•••••• M••• L•• term loan: maturity moved from 2029-11-30 to 2030-11-30
- Spread changed (observed) Dec 31, 2024I•••••• M••• L•• term loan: spread moved from 5.75% to 5.25%
- New lender joined a facility Dec 31, 2024N•••• H•••• P•••••• I••••• F••• L•• joins I•••••• M••• L•• term loan (first lien) held by 5 other BDCs
- New lender joined a facility Dec 31, 2024T• S••••• B•• L•• joins I•••••• M••• L•• term loan (first lien) held by 5 other BDCs
- New lender joined a facility Dec 31, 2024N•••• H•••• P•••••• I••••• F••• A• L•• joins I•••••• M••• L•• term loan (first lien) held by 5 other BDCs
- New lender joined a facility Jun 30, 2024M••••• S•••••• D••••• L•••••• F••• joins I•••••• M••• L•• term loan (first lien) held by 2 other BDCs
- New lender joined a facility Jun 30, 2024S•••••••• P•••••• C••••• F••• L•• joins I•••••• M••• L•• term loan (first lien) held by 2 other BDCs
- Maturity extended (observed) Dec 31, 2023I•••••• M••• L•• term loan: maturity moved from 2028-11-01 to 2029-11-01
- Spread changed (observed) Dec 31, 2023I•••••• M••• L•• term loan: spread moved from 6.75% to 5.75%
Other pieces of this borrower's structure
- at least $983,000
- unknown
- unknown
- revolverexited Jun 30, 2025unknown
- delayed draw term loanexited Dec 31, 2024unknown
- $21.7M
How this facility is known
- Grain
- I•••••• M••• 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