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 $196M 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 |
|---|---|---|---|
| Blue Owl Credit Income Corp.Blue Owl · matched: name | 2026-03-31 | $64M | 0.2% |
| New Mountain Guardian IV BDC, L.L.C.New Mountain · matched: name | 2026-03-31 | $28M | 1.4% |
| Jefferies Credit Partners BDC Inc.Jefferies Credit · matched: name | 2026-03-31 | $20M | 1.1% |
| Willow Tree Capital CorpWillow Tree Capital Corp · matched: name | 2026-03-31 | $18M | 2.0% |
| Carlyle Tactical Private Credit Fund⚠ unreconciledCarlyle · matched: name | 2026-03-31 | $13M | 0.3% |
| New Mountain Finance Corp⚠ unreconciledNew Mountain · matched: name | 2026-03-31 | $12M | 0.4% |
| AB Private Credit Investors CorpAB · matched: name | 2026-03-31 | $11M | 0.6% |
| Senior Credit Investments, LLCJefferies Credit · matched: name | 2026-03-31 | $9M | 1.5% |
| New Mountain Guardian IV Income Fund, L.L.C.New Mountain · matched: name | 2026-03-31 | $6M | 1.3% |
| New Mountain Private Credit Fund⚠ unreconciledNew Mountain · matched: name | 2026-03-31 | $6M | 0.2% |
| AB Private Lending FundAB · matched: name | 2026-03-31 | $5M | 1.4% |
| BlackRock HPS Credit Strategies Fund⚠ unreconciledBlackRock · matched: name | 2026-03-31 | $4M | 0.8% |
| Antares Strategic Credit Fund II LLCAntares Capital · matched: name | 2026-03-31 | $1M | 0.8% |
The range across reported debt positions in the same borrower — fair value over amortized cost as filed — for 11 funds holding it in Q1'26.
11 funds · 14 positions · Q1'26
Instrument stated on 10 of 14 positions (71%).
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 |
|---|---|---|---|---|
| Antares Strategic Credit Fund II LLCmatched: name · 2026-03-31 | — | $1M | 99.0% | Unstressed |
| Blue Owl Credit Income Corp.matched: name · 2026-03-31 |
First lien senior secured loan First lien |
| $64M |
| 99.5% |
| Unstressed |
| AB Private Credit Investors Corpmatched: name · 2026-03-31 | US Corporate Debt Other debt | $11M | 100.0% | Unstressed |
| New Mountain Guardian IV BDC, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $4M | 100.0% | Unstressed |
| AB Private Lending Fundmatched: name · 2026-03-31 | US Corporate Debt Other debt | $5M | 100.0% | Unstressed |
| New Mountain Private Credit Fund⚠ unreconciledmatched: name · 2026-03-31 | First Lien First lien | $6M | 100.0% | Unstressed |
| New Mountain Guardian IV Income Fund, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $3M | 100.2% | Unstressed |
| New Mountain Guardian IV Income Fund, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $3M | 100.2% | Unstressed |
| New Mountain Guardian IV BDC, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $2M | 100.3% | Unstressed |
| New Mountain Guardian IV BDC, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $23M | 100.3% | Unstressed |
| New Mountain Finance Corp⚠ unreconciledmatched: name · 2026-03-31 | — | $12M | 100.3% | Unstressed |
| Willow Tree Capital Corpmatched: name · 2026-03-31 | Term Loan Other debt | $18M | 100.5% | Unstressed |
| Jefferies Credit Partners BDC Inc.matched: name · 2026-03-31 | — | $20M | 100.6% | Unstressed |
| Senior Credit Investments, LLCmatched: name · 2026-03-31 | — | $9M | 100.7% | 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.