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 $436M 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 |
|---|---|---|---|
| Golub Capital BDCGolub Capital · matched: name | 2026-03-31 | $181M | 2.1% |
| Blue Owl Technology Finance Corp.Blue Owl · matched: name | 2026-03-31 | $53M | 0.3% |
| New Mountain Private Credit Fund⚠ unreconciledNew Mountain · matched: name | 2026-03-31 | $42M | 1.8% |
| NMF SLF I, Inc.matched: name | 2026-03-31 | $23M | 1.6% |
| New Mountain Finance Corp⚠ unreconciledNew Mountain · matched: name | 2026-03-31 | $22M | 0.7% |
| Blackstone Private Credit Fund⚠ unreconciledBlackstone · matched: name | 2026-03-31 | $16M | <0.1% |
| Carlyle Tactical Private Credit Fund⚠ unreconciledCarlyle · matched: name | 2026-03-31 | $13M | 0.3% |
| Nuveen Churchill BDC VChurchill · matched: name | 2025-12-31 | $12M | 1.5% |
| AB Private Credit Investors CorpAB · matched: name | 2026-03-31 | $10M | 0.6% |
| Blue Owl Credit Income Corp.Blue Owl · matched: name | 2026-03-31 | $9M | <0.1% |
| Blue Owl Capital Corporation⚠ unreconciledBlue Owl · matched: name | 2026-03-31 | $9M | 0.1% |
| New Mountain Guardian IV BDC, L.L.C.New Mountain · matched: name | 2026-03-31 | $9M | 0.4% |
| Golub Capital Private Income Fund IGolub Capital · matched: name | 2026-03-31 | $8M | 2.1% |
| Blackstone Secured LendingBlackstone · matched: name | 2026-03-31 | $7M | 0.1% |
| Golub Capital Private Income Fund SGolub Capital · matched: name | 2026-03-31 | $6M | 2.5% |
| Nuveen Churchill Private Capital Income FundChurchill Pcif Advisor LLC · matched: name | 2026-03-31 | $6M | 0.2% |
| Carlyle Secured Lending, Inc.⚠ unreconciledCarlyle · matched: name | 2026-03-31 | $5M | 0.2% |
| New Mountain Guardian IV Income Fund, L.L.C.New Mountain · matched: name | 2026-03-31 | $3M | 0.5% |
| Carlyle Credit Solutions, Inc.Carlyle · matched: name | 2026-03-31 | $1M | <0.1% |
| AB Private Lending FundAB · matched: name | 2026-03-31 | $1M | 0.2% |
The range across reported debt positions in the same borrower — fair value over amortized cost as filed — for 18 funds holding it in Q1'26.
18 funds · 38 positions · Q1'26
Instrument stated on 19 of 38 positions (50%).
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 |
|---|---|---|---|---|
| New Mountain Guardian IV BDC, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $2M | 93.5% | Watch |
| New Mountain Guardian IV BDC, L.L.C.matched: name · 2026-03-31 |
| — |
| $1M |
| 93.6% |
| Watch |
| New Mountain Guardian IV Income Fund, L.L.C.matched: name · 2026-03-31 | — | $0M | 93.6% | Watch |
| New Mountain Guardian IV Income Fund, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $2M | 93.7% | Watch |
| NMF SLF I, Inc.matched: name · 2026-03-31 | — | $23M | 93.7% | Watch |
| New Mountain Guardian IV BDC, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $5M | 93.7% | Watch |
| New Mountain Guardian IV BDC, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $1M | 93.7% | Watch |
| New Mountain Finance Corp⚠ unreconciledmatched: name · 2026-03-31 | First lien First lien | $20M | 93.7% | Watch |
| New Mountain Private Credit Fund⚠ unreconciledmatched: name · 2026-03-31 | First Lien First lien | $41M | 93.8% | Watch |
| New Mountain Private Credit Fund⚠ unreconciledmatched: name · 2026-03-31 | — | $1M | 93.9% | Watch |
| New Mountain Guardian IV Income Fund, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $0M | 94.0% | Watch |
| New Mountain Finance Corp⚠ unreconciledmatched: name · 2026-03-31 | — | $2M | 94.1% | Watch |
| New Mountain Finance Corp⚠ unreconciledmatched: name · 2026-03-31 | First lien First lien | $0M | 94.2% | Watch |
| Golub Capital BDCmatched: name · 2026-03-31 | — | $0M | 95.4% | Unstressed |
| Golub Capital Private Income Fund Smatched: name · 2026-03-31 | — | $0M | 96.2% | Unstressed |
| AB Private Lending Fundmatched: name · 2026-03-31 | US Corporate Debt Other debt | $0M | 96.2% | Unstressed |
| AB Private Credit Investors Corpmatched: name · 2026-03-31 | US Corporate Debt Other debt | $0M | 96.4% | Unstressed |
| Blue Owl Technology Finance Corp.matched: name · 2026-03-31 | First lien senior secured loan First lien | $53M | 96.4% | Unstressed |
| Blue Owl Credit Income Corp.matched: name · 2026-03-31 | First lien senior secured loan First lien | $9M | 96.5% | Unstressed |
| Golub Capital Private Income Fund Smatched: name · 2026-03-31 | — | $0M | 96.5% | Unstressed |
| Golub Capital Private Income Fund Imatched: name · 2026-03-31 | — | $0M | 96.6% | Unstressed |
| Carlyle Credit Solutions, Inc.matched: name · 2026-03-31 | Investment First lien | $1M | 96.7% | Unstressed |
| Carlyle Secured Lending, Inc.⚠ unreconciledmatched: name · 2026-03-31 | Investment First lien | $5M | 96.8% | Unstressed |
| Nuveen Churchill Private Capital Income Fundmatched: name · 2026-03-31 | First Lien Debt First lien | $6M | 97.0% | Unstressed |
| Golub Capital BDCmatched: name · 2026-03-31 | — | $118M | 97.3% | Unstressed |
| AB Private Credit Investors Corpmatched: name · 2026-03-31 | US Corporate Debt Other debt | $10M | 97.9% | Unstressed |
| AB Private Lending Fundmatched: name · 2026-03-31 | US Corporate Debt Other debt | $1M | 98.0% | Unstressed |
| Blue Owl Capital Corporation⚠ unreconciledmatched: name · 2026-03-31 | — | $9M | 98.2% | Unstressed |
| Golub Capital BDCmatched: name · 2026-03-31 | — | $0M | 98.3% | Unstressed |
| Golub Capital Private Income Fund Imatched: name · 2026-03-31 | — | $8M | 98.4% | Unstressed |
| Golub Capital Private Income Fund Smatched: name · 2026-03-31 | — | $5M | 98.4% | Unstressed |
| Blackstone Private Credit Fund⚠ unreconciledmatched: name · 2026-03-31 | — | $4M | 98.5% | Unstressed |
| Blackstone Secured Lendingmatched: name · 2026-03-31 | — | $2M | 98.5% | Unstressed |
| AB Private Lending Fundmatched: name · 2026-03-31 | US Corporate Debt Other debt | $0M | 98.5% | Unstressed |
| AB Private Credit Investors Corpmatched: name · 2026-03-31 | US Corporate Debt Other debt | $0M | 98.6% | Unstressed |
| Blackstone Private Credit Fund⚠ unreconciledmatched: name · 2026-03-31 | — | $12M | 99.0% | Unstressed |
| Blackstone Secured Lendingmatched: name · 2026-03-31 | — | $5M | 99.0% | Unstressed |
| Golub Capital Private Income Fund Imatched: name · 2026-03-31 | — | $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.