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 $846M 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 |
|---|---|---|---|
| Blackstone Private Credit Fund⚠ unreconciledBlackstone · matched: name | 2026-03-31 | $282M | 0.3% |
| Blackstone Secured LendingBlackstone · matched: name | 2026-03-31 | $99M | 0.7% |
| North Haven Private Income Fund LLCMorgan Stanley · matched: name | 2026-03-31 | $76M | 1.1% |
| Oaktree Strategic Credit FundOaktree · matched: name | 2026-03-31 | $72M | 1.0% |
| Golub Capital BDCGolub Capital · matched: name | 2026-03-31 | $55M | 0.6% |
| T. Rowe Price Oha Select Private Credit FundOha Private Credit Advisors LLC · matched: name | 2026-03-31 | $48M | 1.6% |
| Morgan Stanley Direct Lending Fund⚠ unreconciledMorgan Stanley · matched: name | 2026-03-31 | $44M | 1.1% |
| New Mountain Finance Corp⚠ unreconciledNew Mountain · matched: name | 2026-03-31 | $37M | 1.1% |
| NMF SLF I, Inc.matched: name | 2026-03-31 | $21M | 1.4% |
| New Mountain Guardian IV BDC, L.L.C.New Mountain · matched: name | 2026-03-31 | $20M | 1.0% |
| SL Investment Fund II LLCMorgan Stanley · matched: name | 2026-03-31 | $19M | 2.9% |
| New Mountain Private Credit Fund⚠ unreconciledNew Mountain · matched: name | 2026-03-31 | $12M | 0.5% |
| Lgam Private Credit LLCMorgan Stanley · matched: name | 2026-03-31 | $10M | 2.0% |
| Franklin BSP Capital Corp⚠ unreconciledFranklin BSP · matched: name | 2026-03-31 | $9M | 0.2% |
| North Haven Private Income Fund A LLCMorgan Stanley · matched: name | 2026-03-31 | $8M | 1.4% |
| Golub Capital Private Income Fund IGolub Capital · matched: name | 2026-03-31 | $8M | 2.1% |
| Golub Capital Private Income Fund SGolub Capital · matched: name | 2026-03-31 | $6M | 2.4% |
| Stone Point Credit Income FundStone Point Credit · matched: name | 2026-03-31 | $5M | 0.7% |
| New Mountain Guardian IV Income Fund, L.L.C.New Mountain · matched: name | 2026-03-31 | $5M | 1.0% |
| Pimco Capital Solutions BDC Corp.⚠ unreconciledmatched: name | 2026-03-31 | $5M | 1.1% |
| T. Rowe Price OHA Flexible Credit Income FundOha Private Credit Advisors LLC · matched: name | 2026-03-31 | $2M | 0.8% |
| SLR Private Credit BDC II LLCSLR · matched: name | 2026-03-31 | $2M | 3.3% |
| Oaktree Diversified Income Fund Inc.⚠ unreconciledOaktree · matched: name | 2026-03-31 | $1M | 0.5% |
The range across reported debt positions in the same borrower — fair value over amortized cost as filed — for 21 funds holding it in Q1'26.
21 funds · 77 positions · Q1'26
Instrument stated on 16 of 77 positions (21%). 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 |
|---|---|---|---|---|
| Blackstone Secured Lendingmatched: name · 2026-03-31 | — | $2M | 88.1% | Stress |
| Oaktree Strategic Credit Fundmatched: name · 2026-03-31 | — | $2M | 91.1% | Watch |
| Golub Capital Private Income Fund Imatched: name · 2026-03-31 | — | $0M | 93.8% | Watch |
| Golub Capital Private Income Fund Smatched: name · 2026-03-31 | — | $0M | 93.8% | Watch |
| Golub Capital BDCmatched: name · 2026-03-31 | — | $1M | 94.3% | Watch |
| Oaktree Strategic Credit Fundmatched: name · 2026-03-31 | — | $3M | 94.4% | Watch |
| Blackstone Private Credit Fund⚠ unreconciledmatched: name · 2026-03-31 | — | $29M | 96.8% | Unstressed |
| Oaktree Strategic Credit Fundmatched: name · 2026-03-31 | — | $7M | 97.6% | Unstressed |
| New Mountain Guardian IV BDC, L.L.C.matched: name · 2026-03-31 | — | $0M | 97.7% | Unstressed |
| Stone Point Credit Income Fundmatched: name · 2026-03-31 | — | $0M | 97.7% | Unstressed |
| New Mountain Guardian IV Income Fund, L.L.C.matched: name · 2026-03-31 | — | $0M | 97.8% | Unstressed |
| Oaktree Strategic Credit Fundmatched: name · 2026-03-31 | — | $5M | 98.0% | Unstressed |
| New Mountain Private Credit Fund⚠ unreconciledmatched: name · 2026-03-31 | — | $0M | 98.1% | Unstressed |
| Oaktree Strategic Credit Fundmatched: name · 2026-03-31 | — | $56M | 98.1% | Unstressed |
| T. Rowe Price Oha Select Private Credit Fundmatched: name · 2026-03-31 | — | $1M | 98.2% | Unstressed |
| Franklin BSP Capital Corp⚠ unreconciledmatched: name · 2026-03-31 | — | $0M | 98.2% | Unstressed |
| Golub Capital BDCmatched: name · 2026-03-31 | — | $13M | 98.3% | Unstressed |
| NMF SLF I, Inc.matched: name · 2026-03-31 | — | $3M | 98.3% | Unstressed |
| Stone Point Credit Income Fundmatched: name · 2026-03-31 | — | $3M | 98.3% | Unstressed |
| New Mountain Finance Corp⚠ unreconciledmatched: name · 2026-03-31 | First lien First lien | $4M | 98.3% | Unstressed |
| New Mountain Finance Corp⚠ unreconciledmatched: name · 2026-03-31 | First lien First lien | $7M | 98.3% | Unstressed |
| New Mountain Finance Corp⚠ unreconciledmatched: name · 2026-03-31 | First lien First lien | $1M | 98.3% | Unstressed |
| Golub Capital BDCmatched: name · 2026-03-31 | — | $32M | 98.3% | Unstressed |
| New Mountain Private Credit Fund⚠ unreconciledmatched: name · 2026-03-31 | First Lien First lien | $3M | 98.3% | Unstressed |
| NMF SLF I, Inc.matched: name · 2026-03-31 | — | $10M | 98.3% | Unstressed |
| New Mountain Guardian IV BDC, L.L.C.matched: name · 2026-03-31 | — | $1M | 98.4% | Unstressed |
| NMF SLF I, Inc.matched: name · 2026-03-31 | — | $3M | 98.4% | Unstressed |
| New Mountain Finance Corp⚠ unreconciledmatched: name · 2026-03-31 | First lien First lien | $21M | 98.4% | Unstressed |
| New Mountain Finance Corp⚠ unreconciledmatched: name · 2026-03-31 | First lien First lien | $3M | 98.4% | Unstressed |
| New Mountain Private Credit Fund⚠ unreconciledmatched: name · 2026-03-31 | First Lien First lien | $8M | 98.4% | Unstressed |
| Golub Capital Private Income Fund Smatched: name · 2026-03-31 | — | $0M | 98.4% | Unstressed |
| New Mountain Guardian IV Income Fund, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $2M | 98.4% | Unstressed |
| New Mountain Guardian IV BDC, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $4M | 98.5% | Unstressed |
| New Mountain Private Credit Fund⚠ unreconciledmatched: name · 2026-03-31 | — | $1M | 98.5% | Unstressed |
| Golub Capital Private Income Fund Imatched: name · 2026-03-31 | — | $8M | 98.5% | Unstressed |
| Golub Capital Private Income Fund Smatched: name · 2026-03-31 | — | $5M | 98.5% | Unstressed |
| NMF SLF I, Inc.matched: name · 2026-03-31 | — | $3M | 98.5% | Unstressed |
| New Mountain Guardian IV Income Fund, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $1M | 98.5% | Unstressed |
| New Mountain Guardian IV Income Fund, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $2M | 98.6% | Unstressed |
| NMF SLF I, Inc.matched: name · 2026-03-31 | — | $2M | 98.6% | Unstressed |
| New Mountain Guardian IV BDC, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $3M | 98.6% | Unstressed |
| New Mountain Guardian IV Income Fund, L.L.C.matched: name · 2026-03-31 | — | $0M | 98.6% | Unstressed |
| New Mountain Guardian IV BDC, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $13M | 98.7% | Unstressed |
| Blackstone Private Credit Fund⚠ unreconciledmatched: name · 2026-03-31 | — | $5M | 98.8% | Unstressed |
| Blackstone Secured Lendingmatched: name · 2026-03-31 | — | $2M | 98.8% | Unstressed |
| New Mountain Finance Corp⚠ unreconciledmatched: name · 2026-03-31 | — | $0M | 98.8% | Unstressed |
| Golub Capital Private Income Fund Imatched: name · 2026-03-31 | — | $0M | 98.9% | Unstressed |
| Franklin BSP Capital Corp⚠ unreconciledmatched: name · 2026-03-31 | — | $2M | 99.0% | Unstressed |
| North Haven Private Income Fund A LLCmatched: name · 2026-03-31 | — | $0M | 99.0% | Unstressed |
| Golub Capital BDCmatched: name · 2026-03-31 | — | $10M | 99.0% | Unstressed |
| Morgan Stanley Direct Lending Fund⚠ unreconciledmatched: name · 2026-03-31 | — | $0M | 99.1% | Unstressed |
| Stone Point Credit Income Fundmatched: name · 2026-03-31 | First Lien Term Loan First lien | $2M | 99.1% | Unstressed |
| North Haven Private Income Fund LLCmatched: name · 2026-03-31 | — | $1M | 99.2% | Unstressed |
| T. Rowe Price Oha Select Private Credit Fundmatched: name · 2026-03-31 | — | $3M | 99.2% | Unstressed |
| T. Rowe Price Oha Select Private Credit Fundmatched: name · 2026-03-31 | — | $10M | 99.4% | Unstressed |
| T. Rowe Price Oha Select Private Credit Fundmatched: name · 2026-03-31 | — | $34M | 99.4% | Unstressed |
| Franklin BSP Capital Corp⚠ unreconciledmatched: name · 2026-03-31 | — | $7M | 99.4% | Unstressed |
| North Haven Private Income Fund A LLCmatched: name · 2026-03-31 | — | $7M | 99.4% | Unstressed |
| SL Investment Fund II LLCmatched: name · 2026-03-31 | — | $16M | 99.4% | Unstressed |
| Lgam Private Credit LLCmatched: name · 2026-03-31 | — | $0M | 99.5% | Unstressed |
| Blackstone Secured Lendingmatched: name · 2026-03-31 | — | $7M | 99.6% | Unstressed |
| North Haven Private Income Fund A LLCmatched: name · 2026-03-31 | — | $1M | 99.6% | Unstressed |
| Blackstone Private Credit Fund⚠ unreconciledmatched: name · 2026-03-31 | — | $34M | 99.6% | Unstressed |
| Lgam Private Credit LLCmatched: name · 2026-03-31 | — | $1M | 99.6% | Unstressed |
| Lgam Private Credit LLCmatched: name · 2026-03-31 | — | $9M | 99.7% | Unstressed |
| North Haven Private Income Fund LLCmatched: name · 2026-03-31 | — | $68M | 99.7% | Unstressed |
| Pimco Capital Solutions BDC Corp.⚠ unreconciledmatched: name · 2026-03-31 | Debt Investments Other debt | $5M | 99.8% | Unstressed |
| Morgan Stanley Direct Lending Fund⚠ unreconciledmatched: name · 2026-03-31 | — | $43M | 99.8% | Unstressed |
| SL Investment Fund II LLCmatched: name · 2026-03-31 | — | $2M | 99.8% | Unstressed |
| Blackstone Secured Lendingmatched: name · 2026-03-31 | — | $89M | 99.9% | Unstressed |
| SL Investment Fund II LLCmatched: name · 2026-03-31 | — | $0M | 100.0% | Unstressed |
| Franklin BSP Capital Corp⚠ unreconciledmatched: name · 2026-03-31 | — | $0M | 100.0% | Unstressed |
| Morgan Stanley Direct Lending Fund⚠ unreconciledmatched: name · 2026-03-31 | — | $0M | 100.0% | Unstressed |
| Blackstone Private Credit Fund⚠ unreconciledmatched: name · 2026-03-31 | — | $203M | 100.0% | Unstressed |
| SLR Private Credit BDC II LLCmatched: name · 2026-03-31 | Bank Debt/Senior Secured Loans 242.8% Other debt | $2M | 100.1% | Unstressed |
| North Haven Private Income Fund LLCmatched: name · 2026-03-31 | — | $7M | 100.1% | Unstressed |
| Blackstone Private Credit Fund⚠ unreconciledmatched: name · 2026-03-31 | — | $10M | 100.3% | 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.