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 $227M 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 |
|---|---|---|---|
| 5C Lending Partners Corp.matched: via name | 2026-03-31 | $33M | 5.0% |
| Golub Capital Private Credit FundGolub Capital · matched: via name | 2026-03-31 | $31M | 0.3% |
| Golub Capital BDC 4, Inc.Golub Capital · matched: via name | 2026-03-31 | $30M | 1.2% |
| Antares Strategic Credit FundAntares Capital · matched: via name | 2026-03-31 | $29M | 0.6% |
| KKR FS Income Trust⚠ unreconciledKKR · matched: via name | 2026-03-31 | $22M | 0.6% |
| FS KKR Capital Corp.⚠ unreconciledKKR · matched: via name | 2026-03-31 | $21M | 0.1% |
| Agl Private Credit Income Fund⚠ unreconciledAgl · matched: via name | 2026-03-31 | $16M | 1.1% |
| KKR FS Income Trust Select⚠ unreconciledKKR · matched: via name | 2026-03-31 | $12M | 0.6% |
| Golub Capital Direct Lending CorpGolub Capital · matched: via name | 2026-03-31 | $11M | 1.3% |
| Antares Private Credit FundAntares Capital · matched: via name | 2026-03-31 | $10M | 0.6% |
| Golub Capital BDCGolub Capital · matched: via name | 2026-03-31 | $6M | 0.1% |
| Golub Capital Direct Lending Unlevered CorpGolub Capital · matched: via name | 2026-03-31 | $6M | 1.4% |
| T. Rowe Price OHA Flexible Credit Income FundOha Private Credit Advisors LLC · matched: CUSIP | 2026-03-31 | $1M | 0.3% |
The range across reported debt positions in the same borrower — fair value over amortized cost as filed — for 12 funds holding it in Q1'26.
12 funds · 19 positions · Q1'26
Instrument stated on 9 of 19 positions (47%). 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 |
|---|---|---|---|---|
| Golub Capital BDCmatched: via name · 2026-03-31 | — | $6M | 96.6% | Unstressed |
| FS KKR Capital Corp.⚠ unreconciledmatched: via name · 2026-03-31 | Software & Services | $7M | 97.0% | Unstressed |
| KKR FS Income Trust⚠ unreconciledmatched: via name · 2026-03-31 | Software & Services | $0M | 97.2% | Unstressed |
| KKR FS Income Trust Select⚠ unreconciledmatched: via name · 2026-03-31 | Software & Services | $0M | 97.3% | Unstressed |
| KKR FS Income Trust Select⚠ unreconciledmatched: via name · 2026-03-31 | Software & Services | $4M | 97.5% | Unstressed |
| KKR FS Income Trust⚠ unreconciledmatched: via name · 2026-03-31 | Software & Services | $7M | 97.5% | Unstressed |
| KKR FS Income Trust⚠ unreconciledmatched: via name · 2026-03-31 | Software & Services | $15M | 97.7% | Unstressed |
| KKR FS Income Trust Select⚠ unreconciledmatched: via name · 2026-03-31 | Software & Services | $8M | 97.7% | Unstressed |
| FS KKR Capital Corp.⚠ unreconciledmatched: via name · 2026-03-31 | Software & Services | $14M | 97.9% | Unstressed |
| Antares Private Credit Fundmatched: via name · 2026-03-31 | — | $10M | 98.6% | Unstressed |
| Antares Strategic Credit Fundmatched: via name · 2026-03-31 | — | $29M | 98.9% | Unstressed |
| Golub Capital Private Credit Fundmatched: via name · 2026-03-31 | — | $28M | 99.0% | Unstressed |
| Golub Capital BDC 4, Inc.matched: via name · 2026-03-31 | — | $29M | 99.0% | Unstressed |
| Golub Capital Direct Lending Corpmatched: via name · 2026-03-31 | — | $11M | 99.1% | Unstressed |
| Golub Capital Direct Lending Unlevered Corpmatched: via name · 2026-03-31 | — | $6M | 99.1% | Unstressed |
| 5C Lending Partners Corp.matched: via name · 2026-03-31 | — | $33M | 99.2% | Unstressed |
| Agl Private Credit Income Fund⚠ unreconciledmatched: via name · 2026-03-31 | — | $15M | 100.0% | Unstressed |
| Agl Private Credit Income Fund⚠ unreconciledmatched: via name · 2026-03-31 | — | $1M | 100.0% | Unstressed |
| FS KKR Capital Corp.⚠ unreconciledmatched: via name · 2026-03-31 | Software & Services | $0M | 100.0% | 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.