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 $583M 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 |
|---|---|---|---|
| Goldman Sachs Private Credit Corp.⚠ unreconciledGoldman Sachs · matched: name | 2026-03-31 | $111M | 0.7% |
| HPS Corporate Lending FundHPS Investment Partners · matched: name | 2026-03-31 | $108M | 0.4% |
| FS KKR Capital Corp.⚠ unreconciledKKR · matched: name | 2026-03-31 | $93M | 0.5% |
| Oaktree Strategic Credit FundOaktree · matched: name | 2026-03-31 | $63M | 0.9% |
| KKR US Direct Lending Fund-U Inc.KKR · matched: name | 2026-03-31 | $31M | 1.9% |
| Oaktree Specialty Lending Corp⚠ unreconciledOaktree · matched: name | 2026-03-31 | $30M | 0.9% |
| KKR Enhanced US Direct Lending Fund-l Inc.KKR · matched: name | 2026-03-31 | $28M | 2.1% |
| KKR FS Income Trust⚠ unreconciledKKR · matched: name | 2026-03-31 | $20M | 0.6% |
| KKR FS Income Trust Select⚠ unreconciledKKR · matched: name | 2026-03-31 | $18M | 0.9% |
| New Mountain Guardian IV BDC, L.L.C.New Mountain · matched: name | 2026-03-31 | $16M | 0.8% |
| Phillip Street Middle Market Lending Fund LLC⚠ unreconciledmatched: name | 2026-03-31 | $14M | 1.7% |
| Goldman Sachs Middle Market Lending Corp. IIGoldman Sachs · matched: name | 2025-06-30 | $13M | 1.6% |
| NMF SLF I, Inc.matched: name | 2026-03-31 | $10M | 0.7% |
| Goldman Sachs BDC, Inc.⚠ unreconciledGoldman Sachs · matched: name | 2026-03-31 | $10M | 0.3% |
| MSD Investment Corp.matched: name | 2026-03-31 | $7M | 0.1% |
| New Mountain Finance Corp⚠ unreconciledNew Mountain · matched: name | 2026-03-31 | $7M | 0.2% |
| New Mountain Guardian IV Income Fund, L.L.C.New Mountain · matched: name | 2026-03-31 | $4M | 0.8% |
The range across reported debt positions in the same borrower — fair value over amortized cost as filed — for 13 funds holding it in Q1'26.
13 funds · 37 positions · Q1'26
Instrument stated on 5 of 37 positions (14%). 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 |
|---|---|---|---|---|
| KKR FS Income Trust Select⚠ unreconciledmatched: name · 2026-03-31 | — | $1M | 99.4% |
| KKR FS Income Trust⚠ unreconciledmatched: name · 2026-03-31 | — | $1M | 99.5% | Unstressed |
| New Mountain Guardian IV Income Fund, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $0M | 99.5% | Unstressed |
| New Mountain Guardian IV Income Fund, L.L.C.matched: name · 2026-03-31 | — | $0M | 99.5% | Unstressed |
| KKR FS Income Trust⚠ unreconciledmatched: name · 2026-03-31 | — | $1M | 99.5% | Unstressed |
| New Mountain Guardian IV BDC, L.L.C.matched: name · 2026-03-31 | — | $1M | 99.5% | Unstressed |
| Oaktree Strategic Credit Fundmatched: name · 2026-03-31 | — | $56M | 99.7% | Unstressed |
| Oaktree Specialty Lending Corp⚠ unreconciledmatched: name · 2026-03-31 | — | $27M | 99.7% | Unstressed |
| NMF SLF I, Inc.matched: name · 2026-03-31 | — | $9M | 99.7% | Unstressed |
| New Mountain Guardian IV BDC, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $1M | 99.8% | Unstressed |
| New Mountain Guardian IV Income Fund, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $3M | 99.8% | Unstressed |
| New Mountain Guardian IV BDC, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $15M | 99.8% | Unstressed |
| New Mountain Finance Corp⚠ unreconciledmatched: name · 2026-03-31 | First lien First lien | $6M | 99.8% | Unstressed |
| Goldman Sachs Private Credit Corp.⚠ unreconciledmatched: name · 2026-03-31 | — | $6M | 99.8% | Unstressed |
| Oaktree Specialty Lending Corp⚠ unreconciledmatched: name · 2026-03-31 | — | $2M | 99.8% | Unstressed |
| Goldman Sachs BDC, Inc.⚠ unreconciledmatched: name · 2026-03-31 | — | $1M | 99.8% | Unstressed |
| Oaktree Strategic Credit Fundmatched: name · 2026-03-31 | — | $3M | 99.8% | Unstressed |
| NMF SLF I, Inc.matched: name · 2026-03-31 | — | $1M | 99.8% | Unstressed |
| Phillip Street Middle Market Lending Fund LLC⚠ unreconciledmatched: name · 2026-03-31 | — | $1M | 99.9% | Unstressed |
| Oaktree Specialty Lending Corp⚠ unreconciledmatched: name · 2026-03-31 | — | $2M | 99.9% | Unstressed |
| Oaktree Strategic Credit Fundmatched: name · 2026-03-31 | — | $3M | 100.0% | Unstressed |
| MSD Investment Corp.matched: name · 2026-03-31 | — | $4M | 100.0% | Unstressed |
| MSD Investment Corp.matched: name · 2026-03-31 | — | $4M | 100.0% | Unstressed |
| FS KKR Capital Corp.⚠ unreconciledmatched: name · 2026-03-31 | — | $7M | 100.0% | Unstressed |
| FS KKR Capital Corp.⚠ unreconciledmatched: name · 2026-03-31 | — | $7M | 100.0% | Unstressed |
| New Mountain Finance Corp⚠ unreconciledmatched: name · 2026-03-31 | — | $0M | 100.0% | Unstressed |
| New Mountain Finance Corp⚠ unreconciledmatched: name · 2026-03-31 | — | $0M | 100.0% | Unstressed |
| FS KKR Capital Corp.⚠ unreconciledmatched: name · 2026-03-31 | — | $79M | 100.4% | Unstressed |
| Phillip Street Middle Market Lending Fund LLC⚠ unreconciledmatched: name · 2026-03-31 | — | $1M | 100.4% | Unstressed |
| Goldman Sachs Private Credit Corp.⚠ unreconciledmatched: name · 2026-03-31 | — | $6M | 100.4% | Unstressed |
| KKR FS Income Trust⚠ unreconciledmatched: name · 2026-03-31 | — | $18M | 100.5% | Unstressed |
| Goldman Sachs BDC, Inc.⚠ unreconciledmatched: name · 2026-03-31 | — | $0M | 100.6% | Unstressed |
| Goldman Sachs Private Credit Corp.⚠ unreconciledmatched: name · 2026-03-31 | — | $99M | 100.8% | Unstressed |
| Phillip Street Middle Market Lending Fund LLC⚠ unreconciledmatched: name · 2026-03-31 | — | $13M | 100.9% | Unstressed |
| Goldman Sachs BDC, Inc.⚠ unreconciledmatched: name · 2026-03-31 | — | $9M | 100.9% | Unstressed |
| KKR FS Income Trust Select⚠ unreconciledmatched: name · 2026-03-31 | — | $1M | 101.6% | Unstressed |
| KKR FS Income Trust Select⚠ unreconciledmatched: name · 2026-03-31 | — | $16M | 101.8% | 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.