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A private credit provider

Direct lenderBDC adviserPrivate credit fund manager· Los Angeles, CA

Direct lender, based in Los Angeles, CA, advising 2 BDCs with $51B at fair value across 1,030 borrowers.

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

BDC fair value
$51B
Credit fund assets
$26B
Borrowers
1,030
Sponsors
42
Sponsor relationships (42)BDCs (2)Credit funds
As of · the latest BDC schedule or sponsor pairing on record for this provider

What matters now

  1. $1.03B
    on non-accrual, 21 borrowers

    21 borrowers on non-accrual, $1.03B principal; the largest is Amerivet Partners Management, Inc ($130M, $84.6M of it 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 Amerivet Partners Management, Inc →
  2. $215M
    newly on non-accrual

    4 borrowers newly placed on non-accrual in Q2 2026, $215M principal: Amerivet Partners Management, Inc ($130M, $84.6M of it at a company), Aventine Intermediate LLC ($62.2M at a company), NAS, LLC ($12.5M at a company).

    Q2 2026 · The newest credit problems in the book.

    FactBDC schedules of investments, 30 Jun 2026Open Amerivet Partners Management, Inc →
  3. 69 below 80¢
    $1.58B principal

    69 positions across 40 borrowers marked below 80¢ on cost, $1.58B 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. 20 new sponsors
    in 12 months

    At least 20 new sponsors began borrowing from this lender in the last twelve months, and 20 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. 6 new borrowers
    4 quarters, against 11

    Financed at least 6 new sponsor-backed borrowers in the last four quarters, against 11 in the four before.

    The pace of new lending against the year before.

    DerivedBDC schedules, sponsor-backed borrowersSponsor relationships →
Every figure, and the identifiersCRD 131619 · CIK 1449853 · 2 other DFX graphsShow
Direct lenderPrivate credit fund managerCRD 131619
BDCs managed
2
read from each BDC's 10-K
BDC fair value
$51B
latest schedules, summed
BDC principal held
$44B
debt pieces, the filers' figures
Credit funds
19
Form ADV Schedule D
Borrowers
1,030
across BDCs and named deals
Sponsors
42
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
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. 3,644 positions.

Seniority of what it holds
  • First lien1,719 71%
  • Equity595 24%
  • Unsecured or subordinated82 3%
  • Second lien37 2%
Of 3,644 positions, 2,433 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 $5M729 38%
  • $5M to $15M468 24%
  • $15M to $50M479 25%
  • $50M and up238 12%
1,914 of 3,644 positions disclose a principal amount; the median piece is $8.5M. 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

922 connected entities4 observed financingsfinancings 2019 to 2024

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
  • Company
  • 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
a company$29B611Jun 30, 2026
a fund$22B792Jun 30, 2026

Sponsor relationships

by borrowers financed across the provider's BDCs

+39 additional sponsors this lender finances

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

All 42 pairs

Named as lender on a deal

carried from sponsor and lender announcements

Facilities held or named

2 on the graph

Credit funds on Form ADV

candidates by name; Form ADV has no private credit fund type
FundGross assetsFirst reported
SENIOR DIRECT LENDING PROGRAM LLC
Other Private Fund
$5.5B
Aug 27, 2024
Mar 30, 2016
a fund
Hedge Fund
$3.6B
Aug 27, 2024
Nov 16, 2018
a lender (OFFSHORE) II, L.P.
Hedge Fund
$3.3B
Aug 27, 2024
Feb 10, 2021

+16 additional credit funds

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

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
Private credit fund manager
probable · adv credit fundsestimated
Direct lender
probable · adv credit fundsestimated
RIA Intelligence
c63b28f5-af32-0f4a-4644-1999b27db0b8reportedshared crd
RIA Intelligence
c63b28f5-af32-0f4a-4644-1999b27db0b8derivedname unique adv

+8 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: 1 website (The subject's own site), 1 professional profile (The subject's own site), 1 contact form (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 3 records in Private Equity, RIA and Wealth and Independent Sponsors.

Private Equity1RIA and Wealth1Independent Sponsors1

DFX found 3 relationships across 3 datasets

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

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

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Capital chain

This record sits on 104 traced paths of capital across the graphs.

Sponsor to borrower to facility to lenderPE sponsor to borrower to facility to lenderAllocator to credit manager to facility to borrower

DFX traced 104 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…