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 $32M 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 |
|---|---|---|---|
| Cion Investment Corp⚠ unreconciledmatched: name | 2026-03-31 | $22M | 0.9% |
| Investcorp Credit Management BDC, Inc.⚠ unreconciledCM Investment Partners, LLC · matched: name | 2026-03-31 | $9M | 5.3% |
| Investcorp US Private Credit BDC IImatched: name | 2026-03-31 | $1M | 2.3% |
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 · 4 positions · Q1'26
Instrument stated on 2 of 4 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 |
|---|---|---|---|---|
| Cion Investment Corp⚠ unreconciledmatched: name · 2026-03-31 | Unsecured Debt Other debt | $0M | 25.4% | Deep stress |
| Cion Investment Corp⚠ unreconciledmatched: name · 2026-03-31 | Senior Secured First Lien Debt First lien | $22M | 101.4% | Unstressed |
| Investcorp US Private Credit BDC IImatched: name · 2026-03-31 | — | $1M | 108.6% | Unstressed |
| Investcorp Credit Management BDC, Inc.⚠ unreconciledmatched: name · 2026-03-31 | — | $9M | 113.3% | 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.