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 $141M 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 |
|---|---|---|---|
| Goldman Sachs Private Credit Corp.⚠ unreconciledGoldman Sachs · matched: via name | 2026-03-31 | $69M | 0.5% |
| Oaktree Strategic Credit FundOaktree · matched: via name | 2026-03-31 | $36M | 0.5% |
| Oaktree Specialty Lending Corp⚠ unreconciledOaktree · matched: via name | 2026-03-31 | $12M | 0.4% |
| Palmer Square Capital BDC Inc.Palmer Square · matched: via name | 2026-03-31 | $8M | 0.7% |
| Onex Direct Lending BDC FundOnex · matched: via name | 2026-03-31 | $4M | 1.1% |
| Antares Strategic Credit FundAntares Capital · matched: via name | 2026-03-31 | $3M | 0.1% |
| Franklin BSP Capital Corp⚠ unreconciledFranklin BSP · matched: via name | 2026-03-31 | $3M | 0.1% |
| Invesco Dynamic Credit Opportunity Fund⚠ unreconciledInvesco · matched: CUSIP | 2026-02-28 | $1M | 0.5% |
| Invesco Senior Loan Fund⚠ unreconciledInvesco · matched: CUSIP | 2026-02-28 | $1M | 0.4% |
| Antares Private Credit FundAntares Capital · matched: via name | 2026-03-31 | $1M | 0.1% |
| Blackstone Private Credit Fund⚠ unreconciledBlackstone · matched: via name | 2026-03-31 | $1M | <0.1% |
| Blackrock Private Credit FundBlackRock · matched: via name | 2026-03-31 | $1M | <0.1% |
The range across reported debt positions in the same borrower — fair value over amortized cost as filed — for 10 funds holding it in Q1'26.
10 funds · 11 positions · Q1'26
Instrument stated on 1 of 11 positions (9%). 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 |
|---|---|---|---|---|
| Goldman Sachs Private Credit Corp.⚠ unreconciledmatched: via name · 2026-03-31 | — | $69M | 70.9% |
| Deep stress |
| Franklin BSP Capital Corp⚠ unreconciledmatched: via name · 2026-03-31 | — | $3M | 71.8% | Deep stress |
| Antares Strategic Credit Fundmatched: via name · 2026-03-31 | — | $3M | 71.9% | Deep stress |
| Antares Private Credit Fundmatched: via name · 2026-03-31 | — | $1M | 71.9% | Deep stress |
| Oaktree Specialty Lending Corp⚠ unreconciledmatched: via name · 2026-03-31 | — | $1M | 71.9% | Deep stress |
| Blackstone Private Credit Fund⚠ unreconciledmatched: via name · 2026-03-31 | — | $1M | 71.9% | Deep stress |
| Palmer Square Capital BDC Inc.matched: via name · 2026-03-31 | — | $8M | 72.5% | Deep stress |
| Blackrock Private Credit Fundmatched: via name · 2026-03-31 | — | $1M | 73.3% | Deep stress |
| Oaktree Specialty Lending Corp⚠ unreconciledmatched: via name · 2026-03-31 | — | $11M | 75.8% | Deep stress |
| Oaktree Strategic Credit Fundmatched: via name · 2026-03-31 | First Lien Term Loan First lien | $36M | 78.1% | Deep stress |
| Onex Direct Lending BDC Fundmatched: via name · 2026-03-31 | — | $4M | 78.4% | Deep stress |
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.