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A private credit borrower in services: business
What matters now
- 92¢ → 84¢consensus mark
Consensus mark 84¢ on cost, down from 92¢ a year ago, 94¢ last quarter.
Q2 2026 · The lenders' own valuations, the most direct read of what they expect to recover.
Derived3 of 3 lenders' own marks, weighted by principal - $21Mprincipal outstanding
$21M principal held by 3 lenders; matures Aug 2030.
Q2 2026 · Refinancing is due in 46 months at a 84¢ mark.
FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
- 96¢ → 86¢-10 pts, one lender
T. Rowe Price OHA Select Private Credit Fund marked it 96¢ → 86¢, the largest move among 3 lenders this quarter.
Q2 2026 · One holder repriced far more than the rest.
Lender marks
Consensus Q3 2025 99¢, Q4 2025 100¢, Q1 2026 94¢, Q2 2026 84¢. Hover a line for one lender.
Lenders with a mark per quarter end: Q3 2025 5, Q4 2025 5, Q1 2026 3, Q2 2026 3. 2 lenders that held it earlier and not at the latest quarter end are not drawn. 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 | 99¢ | 100¢ | 94¢ | 84¢ |
| T. Rowe Price OHA Select Private Credit Fund | 106¢ | 104¢ | 96¢ | 86¢ |
| BlackRock Private Credit Fund | 92¢ | 92¢ | 87¢ | 79¢ |
| Steele Creek Capital Corp | 96¢ | 91¢ | 86¢ | 79¢ |
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| T. Rowe Price OHA Select Private Credit Fund | $15.9M | 86¢ | -10 pts |
| BlackRock Private Credit Fund | $4.62M | 79¢ | -8 pts |
| Steele Creek Capital Corp | $497K | 79¢ | -7 pts |
Every BDC piece · 3 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| T. Rowe Price OHA Select Private Credit Fund | term loan first lien a withheld name | $15.9M | $13.0M 86c | 10.38% |
| BlackRock Private Credit Fund | term loan first lien A lender) Floor 0.50% Spread 4.50% Total Coupon 8.16% Maturity 8/1/2030 | $4.6M | $3.6M 79c | SOFR+450 bp |
| Steele Creek Capital Corp | term loan first lien a withheld name - Term Loan | $497,000 | $391,000 79c | S+450 bp |
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 $21.0M | 84c | SOFR+450 bp | Aug 1, 2030 | 3 |
| other lien unstated exited Dec 31, 2025 | at least $15.9M | 104c | 10.38% | Aug 1, 2030 | 1 |
| second lien term loan second lien exited Jun 30, 2023 | at least $997,347 | 104c | S+425 bp | Jun 21, 2024 | 1 |
Through time
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2026 | 3 | $21.0M | $17.0M | 84c | 0 |
| Mar 31, 2026 | 3 | $21.0M | $19.0M | 94c | 0 |
| Dec 31, 2025 | 5 | $43.5M | $41.9M | 100c | 0 |
| Sep 30, 2025 | 5 | $26.8M | $25.6M | 99c | 0 |
All 12 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 5 | $25.0M | $22.9M | 92c | 0 |
| Mar 31, 2025 | 3 | $11.0M | $10.4M | 95c | 0 |
| Dec 31, 2024 | 4 | $12.7M | $12.3M | 97c | 0 |
| Sep 30, 2024 | 3 | $6.9M | $6.7M | 98c | 0 |
| Jun 30, 2024 | 2 | $5.3M | $5.3M | 100c | 0 |
| Jun 30, 2023 | 2 | $14.0M | $13.8M | 103c | 0 |
| Mar 31, 2023 | 1 | $13.1M | $12.2M | 99c | 0 |
| Dec 31, 2022 | 1 | $13.1M | $11.7M | 96c | 0 |
What changed
Owner and people
- Clayton, Dubilier & Rice, LLC
- stated in a filing or releasereportedbrandsafway.comconfidence 0.95
- Brookfield Business Partners
- stated in a filing or releasereportedsec.govconfidence 0.95
- Clayton, Dubilier & Rice, LLC status unknown · 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.
3 people at this company are named with their role and the page that names them, for Private Credit Intelligence readers.
This record sits on 10 traced paths of capital across the graphs.
DFX traced 10 paths of capital through this record
Every record on each path, what it committed or lent, and as of when.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.
Checking your plan…
Position history
- Marked down87.0% of cost to 79.4% of cost2026-06-30
- Marked down86.3% of cost to 78.7% of cost2026-06-30
- Marked down96.3% of cost to 85.7% of cost2026-06-30
+40 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.
›Connections
every published relationship on the graph
+2 connections on the graph
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