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.

Sponsor x lender

Which lenders finance which sponsors

A pair is a sponsor and a credit manager (the adviser behind the BDCs, or the BDC itself where the adviser is not yet read) counted once per borrower held. Recency is the quarters since the pair's newest borrower; the 4-quarter columns show whether the relationship is growing. The sponsor attribution is the weakest link, so its basis is on every row.

Sponsors by distinct credit managers

SponsorLenderBorrowersFacilitiesHeldNew, last 4qPrior 4qFirst / latest
Western Technology Investment (wti) carriedWESTERN TECHNOLOGY INVESTMENT (WTI)3737$210M910Dec 31, 2022 / Jun 30, 2026
Stellus Capital Management, LLC carriedSTELLUS CAPITAL MANAGEMENT, LLC2343$234M02Dec 31, 2021 / Jun 30, 2026
Vista Equity Partners Management, LLC inferredGC ADVISORS LLC1314$710M12Sep 30, 2021 / Jun 30, 2026
Vista Equity Partners Management, LLC inferredBLUE OWL CREDIT ADVISORS LLC1225$1.1B11Dec 31, 2021 / Jun 30, 2026
Warburg Pincus LLC inferredBLACKSTONE PRIVATE CREDIT STRATEGIES LLC1124$3.2B41Dec 31, 2021 / Jun 30, 2026
Leonard Green & Partners, L.P. carriedBLACKSTONE PRIVATE CREDIT STRATEGIES LLC1114$969M03Dec 31, 2021 / Jun 30, 2026
Vista Equity Partners Management, LLC inferredBLUE OWL TECHNOLOGY CREDIT ADVISORS LLC1126$961M12Dec 31, 2022 / Jun 30, 2026
Warburg Pincus LLC inferredARES CAPITAL MANAGEMENT LLC1126$765M21Dec 31, 2021 / Jun 30, 2026
Vista Equity Partners Management, LLC inferredARES CAPITAL MANAGEMENT LLC1122$642M22Dec 31, 2021 / Jun 30, 2026
Leonard Green & Partners, L.P. carriedBLUE OWL CREDIT ADVISORS LLC919$1.5B01Dec 31, 2021 / Jun 30, 2026
Hellman & Friedman LLC inferredBLACKSTONE PRIVATE CREDIT STRATEGIES LLC913$875M02Dec 31, 2021 / Jun 30, 2026
Vista Equity Partners Management, LLC inferredBLUE OWL TECHNOLOGY CREDIT ADVISORS II LLC916$512M11Dec 31, 2022 / Jun 30, 2026
Vista Equity Partners Management, LLC inferredMC Advisors926$309M32Dec 31, 2021 / Jun 30, 2026
Vista Equity Partners Management, LLC inferredNEW MOUNTAIN FINANCE ADVISERS, L.L.C.910$282M12Mar 31, 2023 / Jun 30, 2026
Stellus Capital Management, LLC carriedPrivate BDC Advisor, LLC919$50.4M02Sep 30, 2022 / Jun 30, 2026
Leonard Green & Partners, L.P. carriedBLACKROCK CAPITAL INVESTMENT ADVISORS, LLC912$28.1M22Dec 31, 2022 / Jun 30, 2026
Vista Equity Partners Management, LLC inferredBLACKSTONE PRIVATE CREDIT STRATEGIES LLC815$2.3B21Dec 31, 2021 / Jun 30, 2026
Silver Lake Technology Management, LLC carriedBLACKSTONE PRIVATE CREDIT STRATEGIES LLC811$547M30Dec 31, 2021 / Jun 30, 2026
Vista Equity Partners Management, LLC inferredofferings of common stock. New Mountain Finance Advisers, L.L.C89$288M12Dec 31, 2021 / Jun 30, 2026
Leonard Green & Partners, L.P. carriedARES CAPITAL MANAGEMENT LLC812$186M01Dec 31, 2022 / Jun 30, 2026
Vista Equity Partners Management, LLC inferredrevolving credit facility among New Mountain Finance Advisers, L.L.C811$157M11Dec 31, 2022 / Jun 30, 2026
Vista Equity Partners Management, LLC inferredBLUE OWL DIVERSIFIED CREDIT ADVISORS LLC816$148M00Dec 31, 2022 / Sep 30, 2024
Clayton, Dubilier & Rice, LLC carriedBLACKSTONE PRIVATE CREDIT STRATEGIES LLC89$147M01Dec 31, 2021 / Jun 30, 2026
Vista Equity Partners Management, LLC inferredBLACKROCK CAPITAL INVESTMENT ADVISORS, LLC821$105M21Dec 31, 2022 / Jun 30, 2026
Warburg Pincus LLC inferredGoldman Sachs Asset Management, L.P77$679M30Dec 31, 2022 / Jun 30, 2026
Vista Equity Partners Management, LLC inferredOAKTREE FUND ADVISORS, LLC717$254M00Sep 30, 2022 / Jun 30, 2026
Leonard Green & Partners, L.P. carriedGC ADVISORS LLC79$142M02Sep 30, 2021 / Jun 30, 2026
Clayton, Dubilier & Rice, LLC carriedFRANKLIN BSP CAPITAL ADVISER LLC77$37.2M11Dec 31, 2023 / Jun 30, 2026
Silver Lake Technology Management, LLC carriedARES CAPITAL MANAGEMENT LLC78$23.9M00Dec 31, 2021 / Jun 30, 2026
Veritas Capital Fund Management, L.L.C. carriedBLACKSTONE PRIVATE CREDIT STRATEGIES LLC69$3.3B10Dec 31, 2021 / Jun 30, 2026
Kohlberg & Company inferredBLUE OWL CREDIT ADVISORS LLC613$1.2B00Dec 31, 2021 / Jun 30, 2026
Warburg Pincus LLC carriedBLUE OWL CREDIT ADVISORS LLC616$825M20Dec 31, 2022 / Jun 30, 2026
Hellman & Friedman LLC inferredBLUE OWL CREDIT ADVISORS LLC611$752M00Dec 31, 2021 / Jun 30, 2026
Hellman & Friedman LLC inferredARES CAPITAL MANAGEMENT LLC614$560M10Dec 31, 2021 / Jun 30, 2026
Vista Equity Partners Management, LLC inferredC., the investment adviser610$204M21Dec 31, 2021 / Jun 30, 2026
Alpine Investors inferredInvestments or other fixed-income instruments. Churchill PCIF Advisor LLC619$182M10Dec 31, 2022 / Jun 30, 2026
Warburg Pincus LLC carriedfunds, programs, accounts or businesses. For instance, the Adviser618$140M02Dec 31, 2022 / Jun 30, 2026
Clayton, Dubilier & Rice, LLC carriedARES CAPITAL MANAGEMENT LLC67$119M11Dec 31, 2022 / Jun 30, 2026
Leonard Green & Partners, L.P. carriedPALMER SQUARE BDC ADVISOR LLC66$39.4M00Dec 31, 2023 / Dec 31, 2025
Leonard Green & Partners, L.P. inferredBARINGS LLC67$10.3M50Dec 31, 2022 / Jun 30, 2026
The Sterling Group, L.P. carriedBLACKSTONE PRIVATE CREDIT STRATEGIES LLC510$975M01Dec 31, 2021 / Jun 30, 2026
Kelso & Company, L.P. inferredBLUE OWL CREDIT ADVISORS LLC513$966M00Dec 31, 2021 / Jun 30, 2026
Hellman & Friedman LLC inferredHPS ADVISORS, LLC510$895M11Dec 31, 2022 / Jun 30, 2026
Francisco Partners carriedBLACKSTONE PRIVATE CREDIT STRATEGIES LLC512$718M11Sep 30, 2023 / Jun 30, 2026
Court Square Capital carriedBLACKSTONE PRIVATE CREDIT STRATEGIES LLC59$550M01Dec 31, 2021 / Jun 30, 2026
Warburg Pincus LLC carriedKOHLBERG KRAVIS ROBERTS & CO. L.P.56$495M31Dec 31, 2021 / Jun 30, 2026
Genstar Capital carriedGoldman Sachs Asset Management, L.P55$359M00Dec 31, 2022 / Jun 30, 2026
Vista Equity Partners Management, LLC carriedGoldman Sachs Asset Management, L.P56$349M01Dec 31, 2022 / Jun 30, 2026
Leonard Green & Partners, L.P. carriedGoldman Sachs Asset Management, L.P55$342M12Dec 31, 2022 / Jun 30, 2026
Leonard Green & Partners, L.P. carriedBLUE OWL DIVERSIFIED CREDIT ADVISORS LLC514$194M00Dec 31, 2022 / Sep 30, 2024
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