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A private credit provider

Direct lenderBDC adviser· New York, NY

Direct lender, based in New York, NY, advising 3 BDCs with $28B at fair value across 452 borrowers.

Composed from this provider's classification, location and filed figures.

BDC fair value
$28B
Borrowers
452
Sponsors
25
Sponsor relationships (25)BDCs (3)
As of · the latest BDC schedule or sponsor pairing on record for this provider

What matters now

  1. $289M
    on non-accrual, 8 borrowers

    8 borrowers on non-accrual, $289M principal; the largest is Plasma Buyer LLC ($111M at HPS Corporate Lending Fund).

    Q2 2026 · Loans that have stopped paying interest; they set the book's credit losses.

    FactBDC schedules of investments, 30 Jun 2026For LPs and shareholders in these BDCs, co-lenders on the same namesOpen Plasma Buyer LLC →
  2. $121M
    newly on non-accrual

    2 borrowers newly placed on non-accrual in Q2 2026, $121M principal: Plasma Buyer LLC ($111M at HPS Corporate Lending Fund), Foundation Automotive US Corp ($9.78M at HPS Corporate Lending Fund).

    Q2 2026 · The newest credit problems in the book.

    FactBDC schedules of investments, 30 Jun 2026Open Plasma Buyer LLC →
  3. 37 below 80¢
    $538M principal

    37 positions across 20 borrowers marked below 80¢ on cost, $538M principal.

    Q2 2026 · Marks this low usually come before non-accrual or a restructuring.

    Derivedeach position's fair value over cost, 30 Jun 2026
  4. 26 new sponsors
    in 12 months

    At least 26 new sponsors began borrowing from this lender in the last twelve months, and 14 sponsors came back for another deal.

    New sponsor relationships are where its next deals come from.

    Factdeal announcements and BDC schedules naming the pairWhat changed →
  5. 3 new borrowers
    4 quarters, against 10

    Financed 3 new sponsor-backed borrowers in the last four quarters, against 10 in the four before.

    The pace of new lending against the year before.

    DerivedBDC schedules, sponsor-backed borrowersSponsor relationships →
Every figure, and the identifiersCRD 324983 · 1 other DFX graphsShow
Direct lenderCRD 324983
BDCs managed
3
read from each BDC's 10-K
BDC fair value
$28B
latest schedules, summed
BDC principal held
$32B
debt pieces, the filers' figures
Credit funds
0
Form ADV Schedule D
Borrowers
452
across BDCs and named deals
Sponsors
25
sponsor x lender pairs
Adviser RAUM
not established
as filed on Form ADV
On other DFX graphs
1
shared identifiers only

What they say they lend against

the firm's own words, read from its site
This provider's own site has not been read for a stated mandate. Its footprint below is built from BDC filings and Form ADV, which say what it holds and not what it looks for.

What they have actually funded

from the BDC schedules

Every debt and equity piece the provider's BDCs reported in their latest schedules of investments, in the filers' own numbers. 1,421 positions.

Seniority of what it holds
  • First lien626 93%
  • Equity38 6%
  • Unsecured or subordinated5 1%
  • Second lien2 0%
Of 1,421 positions, 671 carry a lien in the filing. A unitranche is filed as first lien, so a stated unitranche appetite can be neither confirmed nor contradicted here.
Size of the debt pieces it takes
  • Under $5M332 31%
  • $5M to $15M262 25%
  • $15M to $50M290 27%
  • $50M and up173 16%
1,057 of 1,421 positions disclose a principal amount; the median piece is $12.1M. Held principal is the lender's share of a facility, not the facility.

No industry breakdown is shown: an industry is recorded on 36.8% of published positions, and a mix built on that would describe which filers tag their schedules rather than what this lender prefers.

Relationship network

449 connected entities

From the latest schedules of investments of the BDCs this provider advises, the facilities and deals that name it, its Form ADV and its BDCs' 10-Ks. A borrower's figure is the BDCs' own fair value mark of their positions, not money moved.

Some relationships on this record are counted rather than named here. They open with the full profile.

Click any name or line for the financings and sources behind it. Line weight is financings together; dashed lines are inferred.

Reading the network
  • Sponsor
  • Fund or vehicle
›How strength and recency are read

Borrowers are ordered by the size of the position in the provider's BDCs, sponsors by how many of its borrowers they back. BDCs and funds are the vehicles it advises. Every figure is as filed, with its date.

Darker lines were active in the last 24 months or are current; lighter lines are older or undated.

BDCs managed

BDCFair valueBorrowersAs of
HPS Corporate Lending Fund$26B393Jun 30, 2026
HPS Corporate Capital Solutions Fund$2.3B196Jun 30, 2026
HPS Corporate Capital Solutions BDCNot disclosedn/an/a

Sponsor relationships

by borrowers financed across the provider's BDCs

+22 additional sponsors this lender finances

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

All 25 pairs

Named as lender on a deal

carried from sponsor and lender announcements
No deal announcement on the graph names this provider as a lender.

Facilities held or named

0 on the graph
The provider's pieces sit on its BDCs' pages; no facility is held in this entity's own name.

Credit funds on Form ADV

candidates by name; Form ADV has no private credit fund type
No credit-named private fund on this adviser's Form ADV.

What changed

  • Repeat sponsor and lender pair Jun 30, 2026
  • Repeat sponsor and lender pair Jun 30, 2026
  • Repeat sponsor and lender pair Jun 30, 2026
  • Repeat sponsor and lender pair Jun 30, 2026
  • New sponsor and lender pair Jun 30, 2026

+35 additional dated changes on this lender

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

How this provider is known

Direct lender
probable · bdc adviser 10kreportedsec.gov
RIA Intelligence
e351ff2c-5f1b-e9b3-a0a9-4e793e9b1fafderivedname unique adv

+11 additional officers on Form ADV

Every name, record and relationship behind this count, with the source on each.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Across the graphs

This record is the same institution as 1 record in RIA and Wealth.

RIA and Wealth1

The joined record opens with the product, beside every other relationship on this page.

Checking your plan…

Capital chain

This record sits on 90 traced paths of capital across the graphs.

Allocator to credit manager to facility to borrower

DFX traced 90 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…

Not yet on record: credit fund assets.