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 $941M 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 | $217M | 0.6% |
| Blue Owl Capital Corporation⚠ unreconciledBlue Owl · matched: name | 2026-03-31 | $119M | 0.7% |
| Ares Capital Corporation⚠ unreconciledAres Management · matched: name | 2026-03-31 | $116M | 0.3% |
| Oaktree Strategic Credit FundOaktree · matched: name | 2026-03-31 | $73M | 1.0% |
| Blue Owl Technology Finance Corp.Blue Owl · matched: name | 2026-03-31 | $70M | 0.5% |
| Oaktree Gardens Olp, LLCOaktree · matched: name | 2026-03-31 | $60M | 6.4% |
| Oaktree Specialty Lending Corp⚠ unreconciledOaktree · matched: name | 2026-03-31 | $52M | 1.6% |
| Blue Owl Technology Income Corp.Blue Owl · matched: name | 2026-03-31 | $35M | 0.6% |
| Franklin BSP Capital Corp⚠ unreconciledFranklin BSP · matched: name | 2026-03-31 | $28M | 0.5% |
| New Mountain Finance Corp⚠ unreconciledNew Mountain · matched: name | 2026-03-31 | $24M | 0.7% |
| T. Rowe Price Oha Select Private Credit FundOha Private Credit Advisors LLC · matched: name | 2026-03-31 | $23M | 0.8% |
| Jefferies Credit Partners BDC Inc.Jefferies Credit · matched: name | 2026-03-31 | $20M | 1.2% |
| New Mountain Guardian IV BDC, L.L.C.New Mountain · matched: name | 2026-03-31 | $16M | 0.8% |
| Blue Owl Capital Corp IIBlue Owl · matched: name | 2026-03-31 | $14M | 1.4% |
| Golub Capital BDC 4, Inc.Golub Capital · matched: name | 2026-03-31 | $12M | 0.5% |
| Amg Comvest Senior Lending FundComvest Credit Managers, LLC · matched: name | 2026-03-31 | $12M | 1.3% |
| Oha Senior Private Lending Fund (u) LLCmatched: name | 2026-03-31 | $10M | 2.3% |
| Senior Credit Investments, LLCJefferies Credit · matched: name | 2026-03-31 | $9M | 1.5% |
| Golub Capital Private Credit FundGolub Capital · matched: name | 2026-03-31 | $8M | 0.1% |
| NMF SLF I, Inc.matched: name | 2026-03-31 | $6M | 0.4% |
| Golub Capital BDCGolub Capital · matched: name | 2026-03-31 | $4M | <0.1% |
| Golub Capital Direct Lending CorpGolub Capital · matched: name | 2026-03-31 | $4M | 0.5% |
| New Mountain Guardian IV Income Fund, L.L.C.New Mountain · matched: name | 2026-03-31 | $3M | 0.5% |
| Golub Capital Direct Lending Unlevered CorpGolub Capital · matched: name | 2026-03-31 | $2M | 0.5% |
| Oaktree Diversified Income Fund Inc.⚠ unreconciledOaktree · matched: name | 2026-03-31 | $2M | 0.7% |
| Franklin BSP Private Credit FundFranklin BSP · matched: name | 2026-03-31 | $2M | 1.3% |
| MSD Investment Corp.matched: name | 2026-03-31 | $0M | <0.1% |
The range across reported debt positions in the same borrower — fair value over amortized cost as filed — for 25 funds holding it in Q1'26.
25 funds · 48 positions · Q1'26
Instrument stated on 10 of 48 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 |
|---|---|---|---|---|
| MSD Investment Corp.matched: name · 2026-03-31 | — | $0M | 30.1% | Deep stress |
| Franklin BSP Capital Corp⚠ unreconciledmatched: name · 2026-03-31 | — | $0M | 50.8% | Deep stress |
| Blue Owl Capital Corp IImatched: name · 2026-03-31 | — | $0M | 51.4% | Deep stress |
| Blue Owl Technology Income Corp.matched: name · 2026-03-31 | — | $1M | 51.4% | Deep stress |
| Blue Owl Credit Income Corp.matched: name · 2026-03-31 | — | $3M | 51.5% | Deep stress |
| Blue Owl Capital Corporation⚠ unreconciledmatched: name · 2026-03-31 | — | $2M | 52.6% | Deep stress |
| Oaktree Strategic Credit Fundmatched: name · 2026-03-31 | — | $1M | 53.2% | Deep stress |
| Oaktree Gardens Olp, LLCmatched: name · 2026-03-31 | — | $1M | 53.3% | Deep stress |
| Oaktree Specialty Lending Corp⚠ unreconciledmatched: name · 2026-03-31 | — | $1M | 53.3% | Deep stress |
| Blue Owl Technology Finance Corp.matched: name · 2026-03-31 | — | $1M | 56.4% | Deep stress |
| Golub Capital BDCmatched: name · 2026-03-31 | — | $0M | 60.0% | Deep stress |
| T. Rowe Price Oha Select Private Credit Fundmatched: name · 2026-03-31 | — | $0M | 61.6% | Deep stress |
| Oha Senior Private Lending Fund (u) LLCmatched: name · 2026-03-31 | — | $0M | 61.8% | Deep stress |
| Golub Capital Direct Lending Corpmatched: name · 2026-03-31 | — | $0M | 62.4% | Deep stress |
| Golub Capital BDC 4, Inc.matched: name · 2026-03-31 | — | $0M | 62.5% | Deep stress |
| Golub Capital Direct Lending Unlevered Corpmatched: name · 2026-03-31 | — | $0M | 62.7% | Deep stress |
| Golub Capital Private Credit Fundmatched: name · 2026-03-31 | — | $0M | 62.7% | Deep stress |
| Jefferies Credit Partners BDC Inc.matched: name · 2026-03-31 | — | $0M | 67.7% | Deep stress |
| Senior Credit Investments, LLCmatched: name · 2026-03-31 | — | $0M | 67.9% | Deep stress |
| New Mountain Guardian IV BDC, L.L.C.matched: name · 2026-03-31 | — | $0M | 85.0% | Deep stress |
| Ares Capital Corporation⚠ unreconciledmatched: name · 2026-03-31 | — | $5M | 85.2% | Stress |
| Ares Capital Corporation⚠ unreconciledmatched: name · 2026-03-31 | — | $112M | 86.0% | Stress |
| New Mountain Guardian IV Income Fund, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $2M | 86.5% | Stress |
| NMF SLF I, Inc.matched: name · 2026-03-31 | — | $6M | 86.5% | Stress |
| New Mountain Guardian IV BDC, L.L.C.matched: name · 2026-03-31 | First Lien First lien | $16M | 86.5% | Stress |
| New Mountain Finance Corp⚠ unreconciledmatched: name · 2026-03-31 | First lien First lien | $24M | 86.5% | Stress |
| New Mountain Finance Corp⚠ unreconciledmatched: name · 2026-03-31 | — | $1M | 86.8% | Stress |
| New Mountain Guardian IV Income Fund, L.L.C.matched: name · 2026-03-31 | — | $0M | 87.0% | Stress |
| Golub Capital BDCmatched: name · 2026-03-31 | — | $4M | 89.4% | Stress |
| Amg Comvest Senior Lending Fundmatched: name · 2026-03-31 | — | $12M | 89.5% | Stress |
| Blue Owl Technology Income Corp.matched: name · 2026-03-31 | First lien senior secured loan First lien | $35M | 90.7% | Watch |
| Blue Owl Credit Income Corp.matched: name · 2026-03-31 | First lien senior secured loan First lien | $214M | 90.7% | Watch |
| Blue Owl Capital Corp IImatched: name · 2026-03-31 | First lien senior secured loan First lien | $13M | 90.7% | Watch |
| Golub Capital Private Credit Fundmatched: name · 2026-03-31 | — | $8M | 91.2% | Watch |
| Golub Capital Direct Lending Corpmatched: name · 2026-03-31 | — | $4M | 91.2% | Watch |
| Golub Capital BDC 4, Inc.matched: name · 2026-03-31 | — | $11M | 91.2% | Watch |
| Oaktree Specialty Lending Corp⚠ unreconciledmatched: name · 2026-03-31 | — | $46M | 91.2% | Watch |
| Oaktree Strategic Credit Fundmatched: name · 2026-03-31 | — | $65M | 91.2% | Watch |
| Oaktree Gardens Olp, LLCmatched: name · 2026-03-31 | First Lien Term Loan First lien | $53M | 91.2% | Watch |
| Golub Capital Direct Lending Unlevered Corpmatched: name · 2026-03-31 | — | $2M | 91.2% | Watch |
| Franklin BSP Capital Corp⚠ unreconciledmatched: name · 2026-03-31 | — | $27M | 91.3% | Watch |
| Blue Owl Capital Corporation⚠ unreconciledmatched: name · 2026-03-31 | First lien senior secured loan First lien | $118M | 91.4% | Watch |
| Blue Owl Technology Finance Corp.matched: name · 2026-03-31 | First lien senior secured loan First lien | $69M | 92.5% | Watch |
| T. Rowe Price Oha Select Private Credit Fundmatched: name · 2026-03-31 | — | $22M | 92.7% | Watch |
| Oha Senior Private Lending Fund (u) LLCmatched: name · 2026-03-31 | — | $10M | 92.7% | Watch |
| Senior Credit Investments, LLCmatched: name · 2026-03-31 | — | $9M | 94.2% | Watch |
| Jefferies Credit Partners BDC Inc.matched: name · 2026-03-31 | — | $20M | 94.2% | Watch |
| Oaktree Gardens Olp, LLCmatched: name · 2026-03-31 | Preferred Equity Equity / warrants | $6M | 115.9% | 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.