Identity floor
Borrower identity here is a normalised-name match — the majority join in the private-credit books, with roughly 10% measured error in each direction (two companies fused into one, or one company split across spellings). Figures built on it — crowding, overlap, the manager complex — are floors, not exact counts. How this is measured →
Fair value and share of that fund's resolved holdings book, each at the fund's own most recent reported period — the as-of column, because the holders of one company do not file on one date. The bar under each fair value is that fund's share of the $28M combined total across every holder — a different denominator from the share-of-book column — so one dominant lender vs an even syndicate is visible without reading the dollar figures.
| Fund | As of | Fair value | Share of book |
|---|---|---|---|
| Ares Capital Corporation⚠ unreconciledAres Management · matched: via name | 2026-03-31 | $15M | <0.1% |
| Ares Strategic Income FundAres Management · matched: via name | 2026-03-31 | $8M | <0.1% |
| Lord Abbett Flexible Income FundLord Abbett · matched: CUSIP | 2026-03-31 | $3M | 1.4% |
| Investcorp US Private Credit BDC IImatched: via name | 2026-03-31 | $3M | 6.2% |
The range across reported debt positions in the same borrower — fair value over amortized cost as filed — for 3 funds holding it in Q1'26.
3 funds · 3 positions · Q1'26
Instrument stated on 0 of 3 positions (0%). With most positions untagged, the range above may reflect capital structure — a junior tranche marked down beside a senior one held whole — rather than funds disagreeing on this borrower.
Positions counted here filed a principal balance — the debt proxy used to find comparable marks, measured 82% precise as actual debt where an instrument label exists; the rest are equity or warrants filed with a principal amount.
| Fund | Instrument | Fair value | Mark | Band |
|---|---|---|---|---|
| Investcorp US Private Credit BDC IImatched: via name · 2026-03-31 | — | $3M | 100.0% | Unstressed |
| Ares Capital Corporation⚠ unreconciledmatched: via name · 2026-03-31 | — | $15M | 100.0% | Unstressed |
| Ares Strategic Income Fundmatched: via name · 2026-03-31 | — | $8M | 100.5% | Unstressed |
Source: AltsVault · SEC filings · as of 2026-01-01
AltsVault · SEC EDGAR public data · informational only, not investment advice. Reconciliation is marked per fund on each position row.