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 $417M 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 | $121M | 0.4% |
| Ares Strategic Income FundAres Management · matched: via name | 2026-03-31 | $102M | 0.5% |
| Oaktree Strategic Credit FundOaktree · matched: via name | 2026-03-31 | $68M | 1.0% |
| Stone Point Credit CorpStone Point Credit · matched: via name | 2026-03-31 | $22M | 0.8% |
| Oaktree Specialty Lending Corp⚠ unreconciledOaktree · matched: via name | 2026-03-31 | $20M | 0.6% |
| Palmer Square Capital BDC Inc.Palmer Square · matched: via name | 2026-03-31 | $15M | 1.3% |
| New Mountain Finance Corp⚠ unreconciledNew Mountain · matched: via name | 2026-03-31 | $14M | 0.4% |
| New Mountain Guardian IV BDC, L.L.C.New Mountain · matched: via name | 2026-03-31 | $10M | 0.5% |
| New Mountain Private Credit Fund⚠ unreconciledNew Mountain · matched: via name | 2026-03-31 | $10M | 0.4% |
| Stone Point Credit Income FundStone Point Credit · matched: via name | 2026-03-31 | $9M | 1.2% |
| New Mountain Guardian IV Income Fund, L.L.C.New Mountain · matched: via name | 2026-03-31 | $5M | 1.0% |
| Franklin BSP Capital Corp⚠ unreconciledFranklin BSP · matched: via name | 2026-03-31 | $5M | 0.1% |
| Blackstone Private Credit Fund⚠ unreconciledBlackstone · matched: via name | 2026-03-31 | $4M | <0.1% |
| Franklin BSP Lending FundFranklin Templeton FUND Adviser · matched: CUSIP | 2026-03-31 | $2M | 0.8% |
| Lord Abbett Corporate Opportunities FundLord Abbett · matched: CUSIP | 2026-03-31 | $2M | 1.2% |
| Jackson Credit Opportunities Fund⚠ unreconciledJackson · matched: CUSIP | 2026-03-31 | $2M | 0.3% |
| Fidelity Private Credit FundFidelity · matched: via name | 2026-03-31 | $2M | 0.1% |
| Crescent Private Credit Income CorpCrescent Capital · matched: via name | 2026-03-31 | $2M | 0.2% |
| AB CarVal Credit Opportunities Fund⚠ unreconciledAB CarVal · matched: CUSIP | 2026-03-31 | $2M | 0.3% |
| Steele Creek Capital Corp⚠ unreconciledSteele Creek · matched: via name | 2026-03-31 | $1M | 0.2% |
| AB Private Lending FundAB · matched: via name | 2026-03-31 | $0M | 0.1% |
| Fidelity Multi-Strategy Credit FundFidelity · matched: CUSIP | 2026-03-31 | $0M | 0.2% |
The range across reported debt positions in the same borrower — fair value over amortized cost as filed — for 17 funds holding it in Q1'26.
17 funds · 24 positions · Q1'26
Instrument stated on 7 of 24 positions (29%). 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 |
|---|---|---|---|---|
| Franklin BSP Capital Corp⚠ unreconciledmatched: via name · 2026-03-31 | — | $5M | 96.3% |
| AB Private Lending Fundmatched: via name · 2026-03-31 | US Corporate Debt Other debt | $0M | 96.5% | Unstressed |
| Blackstone Private Credit Fund⚠ unreconciledmatched: via name · 2026-03-31 | — | $4M | 96.7% | Unstressed |
| Steele Creek Capital Corp⚠ unreconciledmatched: via name · 2026-03-31 | — | $1M | 96.8% | Unstressed |
| Crescent Private Credit Income Corpmatched: via name · 2026-03-31 | — | $1M | 96.9% | Unstressed |
| Crescent Private Credit Income Corpmatched: via name · 2026-03-31 | — | $1M | 97.1% | Unstressed |
| Oaktree Specialty Lending Corp⚠ unreconciledmatched: via name · 2026-03-31 | — | $5M | 97.1% | Unstressed |
| Ares Strategic Income Fundmatched: via name · 2026-03-31 | — | $102M | 97.3% | Unstressed |
| Ares Capital Corporation⚠ unreconciledmatched: via name · 2026-03-31 | — | $121M | 97.3% | Unstressed |
| New Mountain Private Credit Fund⚠ unreconciledmatched: via name · 2026-03-31 | — | $5M | 97.6% | Unstressed |
| New Mountain Finance Corp⚠ unreconciledmatched: via name · 2026-03-31 | — | $14M | 97.6% | Unstressed |
| Fidelity Private Credit Fundmatched: via name · 2026-03-31 | — | $2M | 98.1% | Unstressed |
| Oaktree Strategic Credit Fundmatched: via name · 2026-03-31 | — | $58M | 98.1% | Unstressed |
| Oaktree Specialty Lending Corp⚠ unreconciledmatched: via name · 2026-03-31 | — | $13M | 98.1% | Unstressed |
| Stone Point Credit Income Fundmatched: via name · 2026-03-31 | — | $9M | 98.1% | Unstressed |
| Palmer Square Capital BDC Inc.matched: via name · 2026-03-31 | — | $6M | 98.2% | Unstressed |
| Stone Point Credit Corpmatched: via name · 2026-03-31 | — | $22M | 98.2% | Unstressed |
| Palmer Square Capital BDC Inc.matched: via name · 2026-03-31 | — | $9M | 98.2% | Unstressed |
| New Mountain Guardian IV Income Fund, L.L.C.matched: via name · 2026-03-31 | Second Lien Second lien | $3M | 98.6% | Unstressed |
| New Mountain Guardian IV Income Fund, L.L.C.matched: via name · 2026-03-31 | Second Lien Second lien | $1M | 98.7% | Unstressed |
| New Mountain Guardian IV BDC, L.L.C.matched: via name · 2026-03-31 | Second Lien Second lien | $10M | 98.7% | Unstressed |
| New Mountain Private Credit Fund⚠ unreconciledmatched: via name · 2026-03-31 | Second Lien Second lien | $5M | 98.7% | Unstressed |
| Oaktree Strategic Credit Fundmatched: via name · 2026-03-31 | First Lien Term Loan First lien | $10M | 99.4% | Unstressed |
| Oaktree Specialty Lending Corp⚠ unreconciledmatched: via name · 2026-03-31 | First Lien Term Loan First lien | $2M | 99.4% | 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.