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 $56M 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 |
|---|---|---|---|
| TPG Twin Brook Capital Income FundAgtb Fund Manager, LLC · matched: name | 2026-03-31 | $37M | 0.8% |
| Lafayette Square USA, Inc.LS BDC Adviser, LLC · matched: name | 2026-03-31 | $10M | 1.1% |
| Cion Investment Corp⚠ unreconciledmatched: name | 2026-03-31 | $9M | 0.3% |
The range across reported debt positions in the same borrower — fair value over amortized cost as filed — for 3 funds holding it in Q1'26.
3 funds · 5 positions · Q1'26
Instrument stated on 3 of 5 positions (60%).
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 |
|---|---|---|---|---|
| TPG Twin Brook Capital Income Fundmatched: name · 2026-03-31 | — | $8M | 100.0% | Unstressed |
| TPG Twin Brook Capital Income Fundmatched: name · 2026-03-31 |
| — |
| $29M |
| 100.1% |
| Unstressed |
| Cion Investment Corp⚠ unreconciledmatched: name · 2026-03-31 | Senior Secured First Lien Debt First lien | $2M | 100.3% | Unstressed |
| Cion Investment Corp⚠ unreconciledmatched: name · 2026-03-31 | Senior Secured First Lien Debt First lien | $7M | 100.4% | Unstressed |
| Lafayette Square USA, Inc.matched: name · 2026-03-31 | First lien senior secured loan First lien | $10M | 100.9% | 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.