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A private credit borrower in software
Nothing material in the last 200 days. Last change: 31 Mar 2025, New borrower on a BDC schedule.
Lender marks
Consensus Q3 2025 100¢, Q4 2025 100¢, Q1 2026 100¢, Q2 2026 100¢. Hover a line for one lender.
Lenders with a mark per quarter end: Q3 2025 2, Q4 2025 2, Q1 2026 2, Q2 2026 2. A mark is each lender’s own fair value over cost from its schedule of investments, filed about 45 days after the quarter ends; marks outside 5¢ to 110¢ on cost are left out.
Every lender’s mark by quarter, as a table
| Lender | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|
| Consensus | 100¢ | 100¢ | 100¢ | 100¢ |
| Antares Strategic Credit Fund | 100¢ | 100¢ | 100¢ | 100¢ |
| Antares Private Credit Fund | 100¢ | 100¢ | 100¢ | 100¢ |
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| Antares Strategic Credit Fund | $9.76M | 100¢ | 0 pts |
| Antares Private Credit Fund | $4.88M | 100¢ | 0 pts |
Every BDC piece · 6 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| Antares Strategic Credit Fund | term loan first lien A lender + 5.25% Interest Rate 9.00% Maturity Date 1/10/2029 | $9.0M | $9.0M 100c | SOFR+525 bp |
| Antares Private Credit Fund | term loan first lien A lender + 5.25% Interest Rate 9.00% Maturity Date 1/10/2029 | $4.5M | $4.5M 100c | SOFR+525 bp |
| Antares Strategic Credit Fund | revolver first lien A withheld name + 5.25% Interest Rate 9.00% Maturity Date 1/10/2029 | $759,000 | -$2,000 50c | SOFR+525 bp |
| Antares Private Credit Fund | revolver first lien A withheld name + 5.25% Interest Rate 9.00% Maturity Date 1/10/2029 One | $380,000 | -$1,000 50c | SOFR+525 bp |
| Antares Private Credit Fund | revolver first lien a withheld name 1/10/2029 | Not disclosed | -$1,000 |
View all 6 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| Antares Strategic Credit Fund | revolver first lien a withheld name 1/10/2029 | Not disclosed | -$2,000 |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
Capital structure as the BDCs see it
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien | at least $13.5M | 100c | SOFR+525 bp | Jan 10, 2029 | 2 |
| first lien revolver first lien | at least $1.1M | n/a | SOFR+525 bp | Jan 10, 2029 | 2 |
| revolver lien unstated exited Mar 31, 2025 | unknown | n/a | unstated | 2 |
Through time
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2026 | 2 | $14.6M | $13.5M | 100c | 0 |
| Mar 31, 2026 | 2 | $14.7M | $13.5M | 100c | 0 |
| Dec 31, 2025 | 2 | $15.1M | $13.6M | 100c | 0 |
| Sep 30, 2025 | 2 | $14.7M | $13.6M | 100c | 0 |
All 6 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 2 | $14.8M | $13.6M | 100c | 0 |
| Mar 31, 2025 | 2 | $14.8M | $13.6M | 100c | 0 |
What changed
Owner and people
- JMI Management, L.P. listed on its portfolio page, undated · credit outlook
- Level Equity listed on its portfolio page, undated · credit outlook
The company this borrower is was matched by an identity-graded bridge; the owner is the firm its portfolio page or deal record names.
1 person at this company is named with their role and the page that names them, for Private Credit Intelligence readers.
Position history
- Principal decreased$760,000 to $380,0002026-03-31
- Principal increased$380,000 to $760,0002025-12-31
- Principal increased$0 to $4.5M2025-06-30
+9 more position changes
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Each line is one position compared between two consecutive BDC schedules of investments: principal, fair value mark, spread, PIK and maturity, as filed with the SEC.