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A private credit provider

CLO managerBDC adviserDirect lenderPrivate credit fund manager· Wilmington, DE

CLO manager, based in Wilmington, DE, advising 3 BDCs with $5.1B at fair value across 335 borrowers.

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

BDC fair value
$5.1B
Credit fund assets
$12B
Borrowers
335
Sponsors
25
As of · the latest BDC schedule or sponsor pairing on record for this provider

What matters now

  1. $362M
    on non-accrual, 64 borrowers

    64 borrowers on non-accrual, $362M principal; the largest is Callodine Commercial Finance LLC ($30M at a company).

    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 Callodine Commercial Finance LLC →
  2. $23.7M
    newly on non-accrual

    4 borrowers newly placed on non-accrual in Q2 2026, $23.7M principal: InMoment, Inc ($11.8M at a company), Amerilife Holdings, LLC ($4.93M at a company), Backoffice Associates Holdings, LLC ($4.82M at a company).

    Q2 2026 · The newest credit problems in the book.

    FactBDC schedules of investments, 30 Jun 2026Open InMoment, Inc →
  3. 46 below 80¢
    $106M principal

    46 positions across 33 borrowers marked below 80¢ on cost, $106M 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. 22 new sponsors
    in 12 months

    At least 22 new sponsors began borrowing from this lender in the last twelve months, and 18 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. 5 new borrowers
    4 quarters, against 7

    Financed 5 new sponsor-backed borrowers in the last four quarters, against 7 in the four before.

    The pace of new lending against the year before.

    DerivedBDC schedules, sponsor-backed borrowersSponsor relationships →
Every figure, and the identifiersCRD 290336 · CIK 1717705 · 2 other DFX graphsShow
CLO managerDirect lenderPrivate credit fund managerCRD 290336
BDCs managed
3
read from each BDC's 10-K
BDC fair value
$5.1B
latest schedules, summed
BDC principal held
$3.5B
debt pieces, the filers' figures
Credit funds
20
Form ADV Schedule D
Borrowers
335
across BDCs and named deals
Sponsors
25
sponsor x lender pairs
Adviser RAUM
not established
as filed on Form ADV
On other DFX graphs
2
shared identifiers only

What they say they lend against

the firm's own words, read from its site
Who they lend to
Platforms*
stated
Sectors and geography
Sector thesis
industrial manufacturing, energy services

Read from the firm's own site, at source on record on Sep 27, 2026. Each line is the value DFX extracted above the sentence it came from, so the sentence can be checked against the page. A starred dimension is one whose extraction precision has not been measured on the credit corpus; the quote is shown so it can be judged directly.

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. 1,040 positions.

Seniority of what it holds
  • First lien828 88%
  • Equity92 10%
  • Second lien21 2%
  • Unsecured or subordinated3 0%
Of 1,040 positions, 944 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 $5M563 76%
  • $5M to $15M115 16%
  • $15M to $50M59 8%
  • $50M and up1 0%
738 of 1,040 positions disclose a principal amount; the median piece is $1.9M. 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

436 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
BlackRock Private Credit Fund$2.5B295Jun 30, 2026
a company$2.4B130Dec 31, 2023
BlackRock Direct Lending Corp.$191M100Jun 30, 2026

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
FundGross assetsFirst reported
a fund 2021-2, LLC
Securitized Asset Fund
$1.5B
Dec 23, 2024
Feb 3, 2022
A fund - a fund (IRELAND)
Hedge Fund
$1.4B
Dec 23, 2024
Feb 21, 2020
a fund
Hedge Fund
$1.4B
Dec 23, 2024
Feb 21, 2020

+17 additional credit funds

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What changed

  • Repeat sponsor and lender pair Jun 30, 2026
  • Repeat sponsor and lender pair Jun 30, 2026
  • New sponsor and lender pair Jun 30, 2026
  • New 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
Private credit fund manager
probable · adv credit fundsestimated
Direct lender
probable · adv credit fundsestimated
CLO manager
probable · adv credit fundsestimated
RIA Intelligence
6078eb47-a00b-9a8e-f41f-68563f5f4333reportedshared crd
RIA Intelligence
6078eb47-a00b-9a8e-f41f-68563f5f4333derivedname unique adv

+3 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.

Who to call

the organisation, the role and the published line, with the filing or website that published it; revealed to signed-in accounts
The firm's published line
Revealable: 5 business phones (The subject's own site), 1 website (The subject's own site) · last confirmed 2026-09-18 · confidence 100%

Who to call is the organisation, the person's role and the line they published themselves: a business phone, office address, website or profile link from Form ADV, Form 13F or their own website, with that source named on every value. The counts above are what a reveal returns; a personal email is rarely published, so most reveals are the firm's line. Never data bought from a provider, never anything personal. Reveals by plan

Across the graphs

This record is the same institution as 4 records in RIA and Wealth, Private Equity, Allocators and Independent Sponsors.

RIA and Wealth1Private Equity1Allocators1Independent Sponsors1

DFX found 4 relationships across 4 datasets

Which record it is in each graph, what it is called there, and how the two were matched.

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Capital chain

This record sits on 48 traced paths of capital across the graphs.

Allocator to credit manager to facility to borrower

DFX traced 48 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.

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