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 $270M 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 |
|---|---|---|---|
| Franklin BSP Capital Corp⚠ unreconciledFranklin BSP · matched: name | 2026-03-31 | $52M | 0.9% |
| Blackrock Private Credit FundBlackRock · matched: name | 2026-03-31 | $47M | 2.0% |
| Carlyle Credit Solutions, Inc.Carlyle · matched: name | 2026-03-31 | $27M | 1.0% |
| Carlyle Secured Lending, Inc.⚠ unreconciledCarlyle · matched: name | 2026-03-31 | $27M | 0.8% |
| Jefferies Credit Partners BDC Inc.Jefferies Credit · matched: name | 2026-03-31 | $24M | 1.4% |
| Amg Comvest Senior Lending FundComvest Credit Managers, LLC · matched: name | 2026-03-31 | $21M | 2.4% |
| Carlyle Tactical Private Credit Fund⚠ unreconciledCarlyle · matched: name | 2026-03-31 | $20M | 0.4% |
| North Haven Private Income Fund LLCMorgan Stanley · matched: name | 2026-03-31 | $19M | 0.3% |
| Morgan Stanley Direct Lending Fund⚠ unreconciledMorgan Stanley · matched: name | 2026-03-31 | $13M | 0.3% |
| Senior Credit Investments, LLCJefferies Credit · matched: name | 2026-03-31 | $9M | 1.6% |
| BlackRock HPS Credit Strategies Fund⚠ unreconciledBlackRock · matched: name | 2026-03-31 | $5M | 0.9% |
| Blackrock Direct Lending Corp.BlackRock · matched: name | 2026-03-31 | $4M | 2.0% |
The range across reported debt positions in the same borrower — fair value over amortized cost as filed — for 10 funds holding it in Q1'26.
10 funds · 12 positions · Q1'26
Instrument stated on 2 of 12 positions (17%). 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 |
|---|---|---|---|---|
| Carlyle Credit Solutions, Inc.matched: name · 2026-03-31 | Investment First lien | $27M | 99.1% | Unstressed |
| Carlyle Secured Lending, Inc.⚠ unreconciledmatched: name · 2026-03-31 | Investment First lien | $27M | 99.1% | Unstressed |
| Blackrock Private Credit Fundmatched: name · 2026-03-31 | — | $15M | 99.8% | Unstressed |
| Amg Comvest Senior Lending Fundmatched: name · 2026-03-31 | — | $21M | 99.9% | Unstressed |
| Blackrock Private Credit Fundmatched: name · 2026-03-31 | — | $32M | 100.0% | Unstressed |
| Blackrock Direct Lending Corp.matched: name · 2026-03-31 | — | $4M | 100.1% | Unstressed |
| Morgan Stanley Direct Lending Fund⚠ unreconciledmatched: name · 2026-03-31 | — | $2M | 100.2% | Unstressed |
| North Haven Private Income Fund LLCmatched: name · 2026-03-31 | — | $19M | 100.3% | Unstressed |
| Franklin BSP Capital Corp⚠ unreconciledmatched: name · 2026-03-31 | — | $52M | 100.3% | Unstressed |
| Morgan Stanley Direct Lending Fund⚠ unreconciledmatched: name · 2026-03-31 | — | $11M | 100.4% | Unstressed |
| Jefferies Credit Partners BDC Inc.matched: name · 2026-03-31 | — | $24M | 100.5% | Unstressed |
| Senior Credit Investments, LLCmatched: name · 2026-03-31 | — | $9M | 100.5% | 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.