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 $637M 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 |
|---|---|---|---|
| Sixth Street Lending PartnersSixth Street · matched: name | 2026-03-31 | $141M | 1.6% |
| Blue Owl Technology Finance Corp.Blue Owl · matched: name | 2026-03-31 | $81M | 0.5% |
| HPS Corporate Lending FundHPS Investment Partners · matched: name | 2026-03-31 | $78M | 0.3% |
| Apollo Debt Solutions BDCApollo · matched: name | 2026-03-31 | $52M | 0.2% |
| Sixth Street Specialty Lending, Inc.Sixth Street · matched: name | 2026-03-31 | $41M | 1.2% |
| New Mountain Guardian IV BDC, L.L.C.New Mountain · matched: name | 2026-03-31 | $38M | 1.9% |
| Golub Capital BDCGolub Capital · matched: name | 2026-03-31 | $32M | 0.4% |
| Blue Owl Credit Income Corp.Blue Owl · matched: name | 2026-03-31 | $23M | 0.1% |
| North Haven Private Income Fund LLCMorgan Stanley · matched: name | 2026-03-31 | $21M | 0.3% |
| NMF SLF I, Inc.matched: name | 2026-03-31 | $14M | 1.0% |
| New Mountain Finance Corp⚠ unreconciledNew Mountain · matched: name | 2026-03-31 | $14M | 0.4% |
| Oaktree Strategic Credit FundOaktree · matched: name | 2026-03-31 | $13M | 0.2% |
| Oaktree Specialty Lending Corp⚠ unreconciledOaktree · matched: name | 2026-03-31 | $12M | 0.4% |
| Carlyle Secured Lending, Inc.⚠ unreconciledCarlyle · matched: name | 2026-03-31 | $11M | 0.3% |
| AB Private Credit Investors CorpAB · matched: name | 2026-03-31 | $10M | 0.6% |
| Silver Point Specialty Lending FundSilver Point Specialty · matched: name | 2026-03-31 | $10M | 0.8% |
| Golub Capital BDC 4, Inc.Golub Capital · matched: name | 2026-03-31 | $10M | 0.4% |
| Morgan Stanley Direct Lending Fund⚠ unreconciledMorgan Stanley · matched: name | 2026-03-31 | $9M | 0.2% |
| New Mountain Guardian IV Income Fund, L.L.C.New Mountain · matched: name | 2026-03-31 | $8M | 1.7% |
| Golub Capital Direct Lending CorpGolub Capital · matched: name | 2026-03-31 | $3M | 0.4% |
| North Haven Private Income Fund A LLCMorgan Stanley · matched: name | 2026-03-31 | $3M | 0.5% |
| SL Investment Fund II LLCMorgan Stanley · matched: name | 2026-03-31 | $3M | 0.4% |
| Carlyle Credit Solutions, Inc.Carlyle · matched: name | 2026-03-31 | $2M | 0.1% |
| Golub Capital Direct Lending Unlevered CorpGolub Capital · matched: name | 2026-03-31 | $2M | 0.5% |
| Lgam Private Credit LLCMorgan Stanley · matched: name | 2026-03-31 | $2M | 0.4% |
| Blue Owl Capital Corporation⚠ unreconciledBlue Owl · matched: name | 2026-03-31 | $1M | <0.1% |
| StepStone Private Credit Co-Investment FundStepStone · matched: name | 2026-03-31 | $1M | 0.3% |
| Blue Owl Technology Income Corp.Blue Owl · matched: 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 24 funds holding it in Q1'26.
24 funds · 25 positions · Q1'26
Instrument stated on 10 of 25 positions (40%). 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 |
|---|---|---|---|---|
| Blue Owl Technology Finance Corp.matched: name · 2026-03-31 | First lien senior secured loan First lien | $81M | 95.9% | Unstressed |
| Blue Owl Technology Income Corp.matched: name · 2026-03-31 | First lien senior secured loan First lien | $1M | 96.0% | Unstressed |
| Blue Owl Credit Income Corp.matched: name · 2026-03-31 | First lien senior secured loan First lien | $23M | 96.0% | Unstressed |
| Blue Owl Capital Corporation⚠ unreconciledmatched: name · 2026-03-31 | First lien senior secured loan First lien | $1M | 96.7% | Unstressed |
| Oaktree Strategic Credit Fundmatched: name · 2026-03-31 | — | $13M | 97.4% | Unstressed |
| Oaktree Specialty Lending Corp⚠ unreconciledmatched: name · 2026-03-31 | — | $12M | 97.4% | Unstressed |
| Apollo Debt Solutions BDCmatched: name · 2026-03-31 | — | $52M | 97.6% | Unstressed |
| Silver Point Specialty Lending Fundmatched: name · 2026-03-31 | — | $10M | 98.2% | Unstressed |
| New Mountain Guardian IV Income Fund, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $8M | 98.8% | Unstressed |
| New Mountain Guardian IV BDC, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $38M | 99.2% | Unstressed |
| Lgam Private Credit LLCmatched: name · 2026-03-31 | — | $2M | 99.3% | Unstressed |
| SL Investment Fund II LLCmatched: name · 2026-03-31 | — | $3M | 99.3% | Unstressed |
| NMF SLF I, Inc.matched: name · 2026-03-31 | — | $14M | 99.5% | Unstressed |
| New Mountain Finance Corp⚠ unreconciledmatched: name · 2026-03-31 | First lien First lien | $14M | 99.6% | Unstressed |
| Golub Capital BDCmatched: name · 2026-03-31 | — | $32M | 99.7% | Unstressed |
| Morgan Stanley Direct Lending Fund⚠ unreconciledmatched: name · 2026-03-31 | — | $6M | 100.1% | Unstressed |
| North Haven Private Income Fund A LLCmatched: name · 2026-03-31 | — | $3M | 100.4% | Unstressed |
| Golub Capital BDC 4, Inc.matched: name · 2026-03-31 | — | $10M | 100.4% | Unstressed |
| Golub Capital Direct Lending Corpmatched: name · 2026-03-31 | — | $3M | 100.6% | Unstressed |
| Golub Capital Direct Lending Unlevered Corpmatched: name · 2026-03-31 | — | $2M | 100.6% | Unstressed |
| Carlyle Secured Lending, Inc.⚠ unreconciledmatched: name · 2026-03-31 | Investment First lien | $11M | 101.2% | Unstressed |
| Morgan Stanley Direct Lending Fund⚠ unreconciledmatched: name · 2026-03-31 | — | $2M | 101.6% | Unstressed |
| North Haven Private Income Fund LLCmatched: name · 2026-03-31 | — | $21M | 101.6% | Unstressed |
| AB Private Credit Investors Corpmatched: name · 2026-03-31 | US Corporate Debt Other debt | $10M | 101.7% | Unstressed |
| Carlyle Credit Solutions, Inc.matched: name · 2026-03-31 | Investment First lien | $2M | 101.9% | 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.