false0001890107NONE00018901072026-09-302026-09-30

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 30, 2026

 

 

First Eagle Private Credit Fund

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

814-01642

87-6975595

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

1345 Avenue of the Americas

 

New York, New York

 

10105

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (212) 698-3300

 

None

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

N/A

 

N/A

 

N/A

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 2.02 Results of Operations and Financial Condition.

The information contained in Item 8.01 of this Current Report on Form 8-K is incorporated into this Item 2.02 by reference.

Item 8.01 Other Events.

September 30, 2026 Schedule of Investments

 

The following table sets forth the Fund's Schedule of Investments and Unfunded Commitments as of September 30, 2026:

 

Investments

 

 

 

Asset Type

 

Industry

 

Region

 

Reference Rate and Spread

 

Interest Rate Floor

 

 

Interest Rate

 

 

Maturity Date

 

Principal/
Shares

 

 

Amortized Cost

 

 

Fair Value

 

 

Unfunded Principal

 

Amentum Holdings, Inc.

 

(a)

 

First Lien

 

Aerospace & Defense

 

United States

 

S + 1.75%

 

 

0.00

%

 

 

5.65

%

 

9/29/2031

 

$

1,477

 

 

$

1,477

 

 

$

1,477

 

 

$

-

 

Bleriot US Bidco Inc.

 

(b)

 

First Lien

 

Aerospace & Defense

 

United States

 

S + 2.25%

 

 

0.00

%

 

 

6.32

%

 

10/31/2030

 

 

1,990

 

 

 

1,985

 

 

 

1,992

 

 

 

-

 

Karman Holdings Inc.

 

(b)

 

First Lien

 

Aerospace & Defense

 

United States

 

S + 2.25%

 

 

0.00

%

 

 

6.32

%

 

4/1/2032

 

 

1,975

 

 

 

1,967

 

 

 

1,976

 

 

 

-

 

VSE Corp.

 

(a)

 

First Lien

 

Aerospace & Defense

 

United States

 

S + 2.00%

 

 

0.00

%

 

 

5.90

%

 

5/5/2033

 

 

1,995

 

 

 

1,990

 

 

 

2,006

 

 

 

-

 

Air Buyer Inc.

 

(b)

 

First Lien

 

Air Freight & Logistics

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.25

%

 

7/23/2030

 

 

5,083

 

 

 

5,038

 

 

 

4,168

 

 

 

-

 

Air Buyer Inc. (Revolver)

 

(b)

 

First Lien

 

Air Freight & Logistics

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.26

%

 

7/23/2030

 

 

348

 

 

 

344

 

 

 

255

 

 

 

171

 

Rand Parent LLC

 

(b)

 

First Lien

 

Air Freight & Logistics

 

United States

 

S + 3.00%

 

 

0.00

%

 

 

7.07

%

 

3/17/2030

 

 

1,496

 

 

 

1,493

 

 

 

1,502

 

 

 

-

 

Enthusiast Auto Holdings, LLC

 

(a)

 

First Lien

 

Automobile Components

 

United States

 

S + 4.50%

 

 

1.00

%

 

 

8.40

%

 

12/19/2027

 

 

8,255

 

 

 

8,255

 

 

 

8,255

 

 

 

-

 

Enthusiast Auto Holdings, LLC (Revolver)

 

(b)

 

First Lien

 

Automobile Components

 

United States

 

S + 4.50%

 

 

1.00

%

 

 

0.38

%

 

12/19/2027

 

 

-

 

 

 

-

 

 

 

-

 

 

 

1,151

 

Owl Vans, LLC

 

(a)

 

First Lien

 

Automobile Components

 

United States

 

S + 5.25%

 

 

1.00

%

 

 

9.15

%

 

12/31/2030

 

 

3,056

 

 

 

3,026

 

 

 

3,011

 

 

 

-

 

Owl Vans, LLC (Revolver)

 

(a)

 

First Lien

 

Automobile Components

 

United States

 

S + 5.25%

 

 

1.00

%

 

 

9.15

%

 

12/31/2030

 

 

312

 

 

 

301

 

 

 

294

 

 

 

888

 

Groundworks Operations, LLC

 

(a)

 

First Lien

 

Building Products

 

United States

 

S + 3.50%

 

 

2.00

%

 

 

7.40

%

 

3/14/2031

 

 

1,711

 

 

 

1,714

 

 

 

1,714

 

 

 

-

 

The Mulch & Soil Company, LLC

 

(a)

 

First Lien

 

Building Products

 

United States

 

S + 6.50%

 

 

1.00

%

 

 

10.40

%

 

5/1/2028

 

 

5,811

 

 

 

5,769

 

 

 

5,811

 

 

 

-

 

The Mulch & Soil Company, LLC (Revolver)

 

(a)

 

First Lien

 

Building Products

 

United States

 

S + 6.50%

 

 

1.00

%

 

 

10.40

%

 

5/1/2028

 

 

432

 

 

 

428

 

 

 

432

 

 

 

259

 

Apella Capital, LLC

 

(b)

 

First Lien

 

Capital Markets

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.34

%

 

3/1/2029

 

 

580

 

 

 

573

 

 

 

580

 

 

 

-

 

Apella Capital, LLC

 

(b)

 

First Lien

 

Capital Markets

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.57

%

 

3/1/2029

 

 

981

 

 

 

968

 

 

 

981

 

 

 

-

 

Apella Capital, LLC

 

(b)

 

First Lien

 

Capital Markets

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.34

%

 

3/1/2029

 

 

1,238

 

 

 

1,226

 

 

 

1,238

 

 

 

-

 

 

 

Investments

 

 

 

Asset Type

 

Industry

 

Region

 

Reference Rate and Spread

 

Interest Rate Floor

 

 

Interest Rate

 

 

Maturity Date

 

Principal/
Shares

 

 

Amortized Cost

 

 

Fair Value

 

 

Unfunded Principal

 

Apella Capital, LLC (Delayed Draw)

 

(b)

 

First Lien

 

Capital Markets

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.25

%

 

3/1/2029

 

 

291

 

 

 

289

 

 

 

291

 

 

 

-

 

Apella Capital, LLC (Delayed Draw)

 

(b)

 

First Lien

 

Capital Markets

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.33

%

 

3/1/2029

 

 

983

 

 

 

978

 

 

 

983

 

 

 

-

 

Apella Capital, LLC (Delayed Draw)

 

(b)

 

First Lien

 

Capital Markets

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.32

%

 

3/1/2029

 

 

1,477

 

 

 

1,468

 

 

 

1,477

 

 

 

-

 

Apella Capital, LLC (Delayed Draw)

 

(b)

 

First Lien

 

Capital Markets

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.27

%

 

3/1/2029

 

 

245

 

 

 

242

 

 

 

245

 

 

 

-

 

Apella Capital, LLC (Revolver)

 

(b)

 

First Lien

 

Capital Markets

 

United States

 

S + 5.75%

 

 

1.00

%

 

 

0.50

%

 

3/1/2029

 

 

-

 

 

 

(3

)

 

 

-

 

 

 

349

 

Highline Aftermarket Acquisition, LLC

 

(d)

 

First Lien

 

Chemicals

 

United States

 

S + 3.50%

 

 

0.00

%

 

 

7.23

%

 

2/19/2030

 

 

1,965

 

 

 

1,962

 

 

 

1,973

 

 

 

-

 

360 Partners, LLC

 

(b)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 4.75%

 

 

1.00

%

 

 

8.51

%

 

8/7/2031

 

 

5,854

 

 

 

5,799

 

 

 

5,766

 

 

 

-

 

360 Partners, LLC (Delayed Draw)

 

(b)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 4.50%

 

 

1.00

%

 

 

1.00

%

 

8/7/2031

 

 

-

 

 

 

(16

)

 

 

(76

)

 

 

5,090

 

360 Partners, LLC (Revolver)

 

(b)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 4.75%

 

 

0.00

%

 

 

8.51

%

 

8/7/2031

 

 

1,481

 

 

 

1,455

 

 

 

1,438

 

 

 

1,393

 

Asplundh Tree Expert, LLC

 

(a)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 1.75%

 

 

0.00

%

 

 

5.65

%

 

5/30/2033

 

 

972

 

 

 

972

 

 

 

972

 

 

 

-

 

BCPE Lightning Buyer Inc

 

(b)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 2.75%

 

 

0.00

%

 

 

0.00

%

 

9/12/2033

 

 

407

 

 

 

405

 

 

 

408

 

 

 

-

 

BCPE Lightning Buyer Inc (Delayed Draw)

 

(b)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 2.75%

 

 

0.00

%

 

 

0.00

%

 

9/12/2033

 

 

-

 

 

 

-

 

 

 

-

 

 

 

93

 

Catawba Nation Gaming Authority

 

(b)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 4.75%

 

 

0.00

%

 

 

8.57

%

 

3/29/2032

 

 

2,500

 

 

 

2,491

 

 

 

2,524

 

 

 

-

 

CI (MG) Group, LLC

 

(b)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.57

%

 

3/27/2030

 

 

9,652

 

 

 

9,541

 

 

 

9,652

 

 

 

-

 

CI (MG) Group, LLC (Delayed Draw)

 

(b)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.53

%

 

3/27/2030

 

 

3,032

 

 

 

3,009

 

 

 

3,032

 

 

 

1,117

 

CI (MG) Group, LLC (Revolver)

 

(b)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.76

%

 

3/27/2030

 

 

167

 

 

 

156

 

 

 

167

 

 

 

877

 

EnergySolutions Holdco Inc

 

(b)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 2.75%

 

 

0.00

%

 

 

0.00

%

 

7/22/2033

 

 

2,000

 

 

 

1,995

 

 

 

2,005

 

 

 

-

 

GFL Environmental Services Inc.

 

(b)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 2.50%

 

 

0.00

%

 

 

6.33

%

 

3/3/2032

 

 

1,990

 

 

 

1,990

 

 

 

1,994

 

 

 

-

 

LSF12 Crown US Commercial Bidco, LLC

 

(a)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 2.50%

 

 

0.00

%

 

 

6.40

%

 

12/2/2031

 

 

1,713

 

 

 

1,697

 

 

 

1,718

 

 

 

-

 

McHale & McHale Landscape Design, LLC

 

(b)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 5.25%

 

 

1.00

%

 

 

8.54

%

 

7/16/2031

 

 

8,464

 

 

 

8,384

 

 

 

8,464

 

 

 

-

 

McHale & McHale Landscape Design, LLC (Delayed Draw)

 

(b)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 4.75%

 

 

1.00

%

 

 

8.57

%

 

7/16/2031

 

 

4,264

 

 

 

4,252

 

 

 

4,264

 

 

 

-

 

McHale & McHale Landscape Design, LLC (Revolver)

 

(b)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 5.25%

 

 

1.00

%

 

 

0.50

%

 

7/16/2031

 

 

-

 

 

 

(13

)

 

 

-

 

 

 

1,429

 

Prime Security Services Borrower, LLC

 

(a)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 2.00%

 

 

0.00

%

 

 

5.92

%

 

10/13/2030

 

 

1,989

 

 

 

1,984

 

 

 

1,987

 

 

 

-

 

 

 

Investments

 

 

 

Asset Type

 

Industry

 

Region

 

Reference Rate and Spread

 

Interest Rate Floor

 

 

Interest Rate

 

 

Maturity Date

 

Principal/
Shares

 

 

Amortized Cost

 

 

Fair Value

 

 

Unfunded Principal

 

SR Landscaping, LLC

 

(a)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 6.35%

 

 

1.00

%

 

 

10.25

%

 

10/30/2029

 

 

5,282

 

 

 

5,235

 

 

 

3,698

 

 

 

-

 

SR Landscaping, LLC (Delayed Draw)

 

(a)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 6.35%

 

 

1.00

%

 

 

10.25

%

 

10/30/2029

 

 

841

 

 

 

835

 

 

 

589

 

 

 

-

 

SR Landscaping, LLC (Delayed Draw)

 

(b)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 6.25%

 

 

1.00

%

 

 

10.25

%

 

10/30/2029

 

 

1,755

 

 

 

1,750

 

 

 

1,228

 

 

 

-

 

SR Landscaping, LLC (Revolver)

 

(a)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 6.35%

 

 

1.00

%

 

 

10.25

%

 

10/30/2029

 

 

890

 

 

 

883

 

 

 

623

 

 

 

-

 

SuperHero Fire Protection, LLC

 

(b)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.57

%

 

12/31/2029

 

 

16,188

 

 

 

16,045

 

 

 

16,188

 

 

 

-

 

SuperHero Fire Protection, LLC (Revolver)

 

(b)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 5.65%

 

 

1.00

%

 

 

9.72

%

 

12/31/2029

 

 

1,125

 

 

 

1,112

 

 

 

1,125

 

 

 

482

 

Waste Resource Management, Inc.

 

(a)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 5.75%

 

 

1.00

%

 

 

9.65

%

 

12/28/2029

 

 

1,405

 

 

 

1,389

 

 

 

1,405

 

 

 

-

 

Waste Resource Management, Inc.

 

(a)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 5.75%

 

 

1.00

%

 

 

9.65

%

 

12/28/2029

 

 

5,487

 

 

 

5,436

 

 

 

5,487

 

 

 

-

 

Waste Resource Management, Inc. (Delayed Draw)

 

(a)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 5.75%

 

 

1.00

%

 

 

9.65

%

 

12/28/2029

 

 

4,854

 

 

 

4,836

 

 

 

4,854

 

 

 

-

 

Waste Resource Management, Inc. (Delayed Draw)

 

(a)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 5.75%

 

 

1.00

%

 

 

9.65

%

 

12/28/2029

 

 

2,036

 

 

 

2,030

 

 

 

2,036

 

 

 

-

 

Waste Resource Management, Inc. (Revolver)

 

(a)

 

First Lien

 

Commercial Services & Supplies

 

United States

 

S + 5.75%

 

 

1.00

%

 

 

9.65

%

 

12/28/2029

 

 

455

 

 

 

448

 

 

 

455

 

 

 

372

 

Air Conditioning Specialist, Inc.

 

(b)

 

First Lien

 

Construction & Engineering

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.22

%

 

11/19/2029

 

 

4,935

 

 

 

4,895

 

 

 

4,935

 

 

 

-

 

Air Conditioning Specialist, Inc. (Delayed Draw)

 

(b)

 

First Lien

 

Construction & Engineering

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.26

%

 

11/19/2029

 

 

3,606

 

 

 

3,570

 

 

 

3,606

 

 

 

-

 

Air Conditioning Specialist, Inc. (Revolver)

 

(b)

 

First Lien

 

Construction & Engineering

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.27

%

 

11/19/2029

 

 

452

 

 

 

444

 

 

 

452

 

 

 

395

 

APi Group DE, Inc.

 

(a)

 

First Lien

 

Construction & Engineering

 

United States

 

S + 1.75%

 

 

0.00

%

 

 

5.65

%

 

5/16/2033

 

 

1,990

 

 

 

1,990

 

 

 

1,993

 

 

 

-

 

APS Acquisition Holdings, LLC

 

(b)

 

First Lien

 

Construction & Engineering

 

United States

 

S + 5.75%

 

 

1.00

%

 

 

9.82

%

 

7/11/2029

 

 

7,939

 

 

 

7,865

 

 

 

7,780

 

 

 

-

 

APS Acquisition Holdings, LLC (Delayed Draw)

 

(b)

 

First Lien

 

Construction & Engineering

 

United States

 

S + 5.75%

 

 

1.00

%

 

 

9.82

%

 

7/11/2029

 

 

2,866

 

 

 

2,858

 

 

 

2,809

 

 

 

-

 

APS Acquisition Holdings, LLC (Revolver)

 

(b)

 

First Lien

 

Construction & Engineering

 

United States

 

S + 5.75%

 

 

1.00

%

 

 

9.51

%

 

7/11/2029

 

 

522

 

 

 

508

 

 

 

488

 

 

 

1,219

 

R.L. James, Inc.

 

(b)

 

First Lien

 

Construction & Engineering

 

United States

 

S + 5.75%

 

 

0.00

%

 

 

9.59

%

 

12/15/2028

 

 

1,529

 

 

 

1,514

 

 

 

1,529

 

 

 

-

 

R.L. James, Inc.

 

(a)

 

First Lien

 

Construction & Engineering

 

United States

 

S + 5.75%

 

 

1.00

%

 

 

9.65

%

 

12/15/2028

 

 

2,238

 

 

 

2,216

 

 

 

2,238

 

 

 

-

 

R.L. James, Inc.

 

(b)

 

First Lien

 

Construction & Engineering

 

United States

 

S + 5.75%

 

 

1.00

%

 

 

9.51

%

 

12/15/2028

 

 

740

 

 

 

731

 

 

 

740

 

 

 

-

 

R.L. James, Inc. (Delayed Draw)

 

(b)

 

First Lien

 

Construction & Engineering

 

United States

 

S + 5.75%

 

 

1.00

%

 

 

9.51

%

 

12/15/2028

 

 

2,119

 

 

 

2,101

 

 

 

2,119

 

 

 

-

 

R.L. James, Inc. (Revolver)

 

(b)

 

First Lien

 

Construction & Engineering

 

United States

 

S + 5.75%

 

 

1.00

%

 

 

9.58

%

 

12/15/2028

 

 

396

 

 

 

387

 

 

 

396

 

 

 

685

 

 

 

Investments

 

 

 

Asset Type

 

Industry

 

Region

 

Reference Rate and Spread

 

Interest Rate Floor

 

 

Interest Rate

 

 

Maturity Date

 

Principal/
Shares

 

 

Amortized Cost

 

 

Fair Value

 

 

Unfunded Principal

 

Tri Scapes, LLC

 

(b)

 

First Lien

 

Construction & Engineering

 

United States

 

S + 5.25%

 

 

1.00

%

 

 

9.32

%

 

7/12/2030

 

 

4,878

 

 

 

4,828

 

 

 

4,829

 

 

 

-

 

Tri Scapes, LLC (Delayed Draw)

 

(b)

 

First Lien

 

Construction & Engineering

 

United States

 

S + 5.25%

 

 

1.00

%

 

 

9.32

%

 

7/12/2030

 

 

2,348

 

 

 

2,325

 

 

 

2,324

 

 

 

-

 

Tri Scapes, LLC (Revolver)

 

(b)

 

First Lien

 

Construction & Engineering

 

United States

 

S + 5.25%

 

 

1.00

%

 

 

9.32

%

 

7/12/2030

 

 

871

 

 

 

860

 

 

 

859

 

 

 

314

 

Blazing Star Parent, LLC

 

(b)

 

First Lien

 

Consumer Staples Distribution & Retail

 

United States

 

S + 7.00%

 

 

1.00

%

 

 

10.76

%

 

8/28/2030

 

 

13,260

 

 

 

13,094

 

 

 

13,260

 

 

 

-

 

National Convenience Distributors, LLC

 

(a)

 

First Lien

 

Consumer Staples Distribution & Retail

 

United States

 

S + 6.75%

 

 

1.00

%

 

 

10.64

%

 

8/9/2028

 

 

8,471

 

 

 

8,361

 

 

 

8,471

 

 

 

-

 

National Convenience Distributors, LLC (Delayed Draw)

 

(a)

 

First Lien

 

Consumer Staples Distribution & Retail

 

United States

 

S + 6.75%

 

 

0.00

%

 

 

10.64

%

 

8/9/2028

 

 

1,008

 

 

 

995

 

 

 

1,008

 

 

 

-

 

R-Pac International Corp

 

(b)

 

First Lien

 

Containers & Packaging

 

United States

 

S + 5.25%

 

 

0.00

%

 

 

9.09

%

 

12/31/2030

 

 

1,921

 

 

 

1,929

 

 

 

1,921

 

 

 

-

 

LaserAway Intermediate Holdings II, LLC

 

(b)

 

First Lien

 

Diversified Consumer Services

 

United States

 

S + 6.01%

 

 

0.75

%

 

 

9.74

%

 

10/14/2027

 

 

1,479

 

 

 

1,474

 

 

 

1,479

 

 

 

-

 

Mammoth Holdings, LLC

 

(b)

 

First Lien

 

Diversified Consumer Services

 

United States

 

S + 6.00%

 

 

1.00

%

 

 

10.07

%

 

11/15/2030

 

 

5,128

 

 

 

5,057

 

 

 

4,820

 

 

 

-

 

Mammoth Holdings, LLC (Delayed Draw)

 

(b)

 

First Lien

 

Diversified Consumer Services

 

United States

 

S + 6.00%

 

 

1.00

%

 

 

10.07

%

 

11/15/2030

 

 

1,289

 

 

 

1,271

 

 

 

1,212

 

 

 

-

 

Mammoth Holdings, LLC (Revolver)

 

(b)

 

First Lien

 

Diversified Consumer Services

 

United States

 

S + 6.00%

 

 

1.00

%

 

 

10.08

%

 

11/15/2029

 

 

135

 

 

 

128

 

 

 

96

 

 

 

524

 

Streetmasters Intermediate, Inc

 

(a)

 

First Lien

 

Diversified Consumer Services

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.40

%

 

4/1/2030

 

 

12,280

 

 

 

12,161

 

 

 

12,218

 

 

 

-

 

Streetmasters Intermediate, Inc (Revolver)

 

(a)

 

First Lien

 

Diversified Consumer Services

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.40

%

 

4/1/2030

 

 

385

 

 

 

370

 

 

 

377

 

 

 

1,315

 

Alpha Generation, LLC

 

(a)

 

First Lien

 

Electric Utilities

 

United States

 

S + 1.75%

 

 

0.00

%

 

 

5.65

%

 

9/30/2031

 

 

2,287

 

 

 

2,291

 

 

 

2,276

 

 

 

-

 

NRG Energy Inc

 

(a)

 

First Lien

 

Electric Utilities

 

United States

 

S + 1.75%

 

 

0.00

%

 

 

5.65

%

 

4/28/2033

 

 

1,990

 

 

 

1,990

 

 

 

1,989

 

 

 

-

 

EiKO Global, LLC (Revolver)

 

(b)

 

First Lien

 

Electrical Equipment

 

United States

 

S + 6.50%

 

 

0.00

%

 

 

10.57

%

 

9/3/2030

 

 

3,698

 

 

 

3,597

 

 

 

3,698

 

 

 

2,016

 

Discovery Global Holdings

 

(a)

 

First Lien

 

Entertainment

 

United States

 

S + 2.50%

 

 

0.00

%

 

 

6.19

%

 

6/3/2033

 

 

1,471

 

 

 

1,468

 

 

 

1,472

 

 

 

-

 

Liberty Media Corporation

 

(b)

 

First Lien

 

Entertainment

 

Europe

 

S + 1.75%

 

 

0.00

%

 

 

0.00

%

 

9/30/2031

 

 

2,000

 

 

 

2,000

 

 

 

2,001

 

 

 

-

 

Allwyn Entertainment Financing US LLC

 

(b)

 

First Lien

 

Financial Services

 

United States

 

S + 2.50%

 

 

0.00

%

 

 

6.32

%

 

1/18/2033

 

 

1,493

 

 

 

1,469

 

 

 

1,462

 

 

 

-

 

Pioneer Opco LLC

 

(a)

 

First Lien

 

Financial Services

 

United States

 

S + 3.25%

 

 

0.00

%

 

 

7.15

%

 

5/15/2033

 

 

2,000

 

 

 

1,990

 

 

 

2,007

 

 

 

-

 

PRGX Global, Inc

 

(b)

 

First Lien

 

Financial Services

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.60

%

 

12/20/2030

 

 

4,407

 

 

 

4,373

 

 

 

4,307

 

 

 

-

 

PRGX Global, Inc (Delayed Draw)

 

(b)

 

First Lien

 

Financial Services

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

1.00

%

 

12/20/2030

 

 

-

 

 

 

(2

)

 

 

(13

)

 

 

596

 

Sagebrush Buyer, LLC

 

(a)

 

First Lien

 

Financial Services

 

United States

 

S + 4.75%

 

 

1.00

%

 

 

8.65

%

 

7/1/2030

 

 

9,148

 

 

 

9,049

 

 

 

9,148

 

 

 

-

 

 

 

Investments

 

 

 

Asset Type

 

Industry

 

Region

 

Reference Rate and Spread

 

Interest Rate Floor

 

 

Interest Rate

 

 

Maturity Date

 

Principal/
Shares

 

 

Amortized Cost

 

 

Fair Value

 

 

Unfunded Principal

 

Sagebrush Buyer, LLC (Revolver)

 

(a)

 

First Lien

 

Financial Services

 

United States

 

S + 4.75%

 

 

1.00

%

 

 

0.50

%

 

7/1/2030

 

 

-

 

 

 

(12

)

 

 

-

 

 

 

1,263

 

Aspire Bakeries Holdings LLC

 

(a)

 

First Lien

 

Food Products

 

United States

 

S + 3.00%

 

 

0.00

%

 

 

6.86

%

 

12/23/2030

 

 

1,980

 

 

 

1,974

 

 

 

1,985

 

 

 

-

 

Pegasus BidCo B.V.

 

(b)

 

First Lien

 

Food Products

 

Europe

 

S + 2.50%

 

 

0.00

%

 

 

6.24

%

 

7/12/2032

 

 

2,993

 

 

 

2,993

 

 

 

2,999

 

 

 

-

 

Vitamin Well

 

(b)

 

First Lien

 

Food Products

 

Europe

 

S + 3.50%

 

 

0.00

%

 

 

0.00

%

 

7/22/2033

 

 

1,500

 

 

 

1,485

 

 

 

1,489

 

 

 

-

 

First Student Bidco Inc.

 

(b)

 

First Lien

 

Ground Transportation

 

United States

 

S + 2.25%

 

 

0.00

%

 

 

6.32

%

 

8/15/2030

 

 

1,686

 

 

 

1,684

 

 

 

1,687

 

 

 

-

 

Gateway Nam Acquisition, LLC

 

(b)

 

First Lien

 

Health Care Equipment & Supplies

 

United States

 

S + 5.00%

 

 

0.00

%

 

 

9.02

%

 

9/22/2032

 

 

1,934

 

 

 

1,916

 

 

 

1,916

 

 

 

-

 

Gateway Nam Acquisition, LLC (Delayed Draw)

 

(b)

 

First Lien

 

Health Care Equipment & Supplies

 

United States

 

S + 5.00%

 

 

0.00

%

 

 

1.00

%

 

9/22/2032

 

 

-

 

 

 

(4

)

 

 

(4

)

 

 

1,286

 

Gateway Nam Acquisition, LLC (Revolver)

 

(b)

 

First Lien

 

Health Care Equipment & Supplies

 

United States

 

S + 5.00%

 

 

0.00

%

 

 

9.02

%

 

9/22/2032

 

 

98

 

 

 

95

 

 

 

95

 

 

 

182

 

Prescott's Inc.

 

(b)

 

First Lien

 

Health Care Equipment & Supplies

 

United States

 

S + 5.00%

 

 

1.00

%

 

 

9.07

%

 

12/30/2030

 

 

4,990

 

 

 

4,947

 

 

 

4,965

 

 

 

-

 

Prescott's Inc. (Delayed Draw)

 

(b)

 

First Lien

 

Health Care Equipment & Supplies

 

United States

 

S + 5.00%

 

 

1.00

%

 

 

9.07

%

 

12/30/2030

 

 

1,479

 

 

 

1,469

 

 

 

1,461

 

 

 

2,091

 

Prescott's Inc. (Revolver)

 

(b)

 

First Lien

 

Health Care Equipment & Supplies

 

United States

 

S + 5.00%

 

 

1.00

%

 

 

0.50

%

 

12/30/2030

 

 

-

 

 

 

(7

)

 

 

(4

)

 

 

896

 

Advanced Medical Management, LLC

 

(d)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 6.25%

 

 

1.00

%

 

 

9.98

%

 

6/18/2028

 

 

748

 

 

 

738

 

 

 

748

 

 

 

-

 

BCDI Rodeo Dental Buyer, LLC

 

(d)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 5.50%

 

 

0.00

%

 

 

9.25

%

 

5/31/2030

 

 

2,041

 

 

 

2,019

 

 

 

2,041

 

 

 

-

 

BCDI Rodeo Dental Buyer, LLC (Revolver)

 

(b)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 5.65%

 

 

1.00

%

 

 

9.49

%

 

5/31/2030

 

 

340

 

 

 

322

 

 

 

340

 

 

 

1,359

 

CHG Healthcare Services, Inc.

 

(b)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 3.00%

 

 

0.00

%

 

 

6.82

%

 

9/29/2031

 

 

995

 

 

 

993

 

 

 

994

 

 

 

-

 

Community Based Care Acquisition, Inc. (Delayed Draw)

 

(b)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 5.35%

 

 

1.00

%

 

 

9.42

%

 

9/16/2027

 

 

3,696

 

 

 

3,674

 

 

 

3,696

 

 

 

-

 

Elevate HD Parent, Inc.

 

(a)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 5.00%

 

 

1.00

%

 

 

8.90

%

 

8/20/2029

 

 

970

 

 

 

960

 

 

 

970

 

 

 

-

 

Elevate HD Parent, Inc. (Delayed Draw)

 

(a)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 5.00%

 

 

1.00

%

 

 

8.90

%

 

8/20/2029

 

 

23

 

 

 

23

 

 

 

23

 

 

 

-

 

Elevate HD Parent, Inc. (Delayed Draw)

 

(a)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 5.00%

 

 

1.00

%

 

 

8.90

%

 

8/20/2029

 

 

529

 

 

 

527

 

 

 

529

 

 

 

-

 

Elevate HD Parent, Inc. (Revolver)

 

(a)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 5.00%

 

 

1.00

%

 

 

8.90

%

 

8/20/2029

 

 

53

 

 

 

51

 

 

 

53

 

 

 

147

 

Endo1 Partners, LLC

 

(a)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 7.14% (incl. 0.38% PIK)

 

 

2.00

%

 

 

11.04

%

 

5/23/2030

 

 

2,069

 

 

 

2,044

 

 

 

2,064

 

 

 

-

 

Endo1 Partners, LLC

 

(a)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 7.14% (incl. 0.38% PIK)

 

 

2.00

%

 

 

11.04

%

 

5/23/2030

 

 

7,810

 

 

 

7,678

 

 

 

7,771

 

 

 

-

 

Endo1 Partners, LLC (Revolver)

 

(a)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 4.38% (incl. 0.38% PIK)

 

 

1.00

%

 

 

7.90

%

 

5/23/2030

 

 

788

 

 

 

773

 

 

 

786

 

 

 

259

 

 

 

Investments

 

 

 

Asset Type

 

Industry

 

Region

 

Reference Rate and Spread

 

Interest Rate Floor

 

 

Interest Rate

 

 

Maturity Date

 

Principal/
Shares

 

 

Amortized Cost

 

 

Fair Value

 

 

Unfunded Principal

 

Houseworks Holdings

 

(b)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.26

%

 

12/15/2028

 

 

1,079

 

 

 

1,068

 

 

 

1,063

 

 

 

-

 

Houseworks Holdings

 

(b)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.26

%

 

12/15/2028

 

 

2,473

 

 

 

2,463

 

 

 

2,436

 

 

 

-

 

Houseworks Holdings (Delayed Draw)

 

(b)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.26

%

 

12/15/2028

 

 

314

 

 

 

311

 

 

 

309

 

 

 

-

 

Houseworks Holdings (Revolver)

 

(b)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.26

%

 

12/15/2028

 

 

122

 

 

 

122

 

 

 

119

 

 

 

80

 

In Vitro Sciences, LLC

 

(a)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 6.11%

 

 

1.00

%

 

 

10.02

%

 

2/28/2029

 

 

7,555

 

 

 

7,491

 

 

 

7,442

 

 

 

-

 

In Vitro Sciences, LLC (Delayed Draw)

 

(a)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 6.11%

 

 

1.00

%

 

 

10.02

%

 

2/28/2029

 

 

1,883

 

 

 

1,879

 

 

 

1,855

 

 

 

-

 

In Vitro Sciences, LLC (Revolver)

 

(c)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 6.26%

 

 

1.00

%

 

 

10.08

%

 

2/28/2029

 

 

227

 

 

 

223

 

 

 

219

 

 

 

341

 

Medrina, LLC

 

(d)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 6.00%

 

 

1.00

%

 

 

9.66

%

 

10/20/2029

 

 

7,156

 

 

 

7,081

 

 

 

7,156

 

 

 

-

 

Medrina, LLC (Delayed Draw)

 

(d)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 6.00%

 

 

1.00

%

 

 

9.84

%

 

10/20/2029

 

 

1,265

 

 

 

1,261

 

 

 

1,265

 

 

 

-

 

Medrina, LLC (Revolver)

 

(b)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 6.00%

 

 

1.00

%

 

 

0.50

%

 

10/20/2029

 

 

-

 

 

 

(11

)

 

 

-

 

 

 

1,107

 

Monarch Behavioral Therapy, LLC

 

(a)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 5.00%

 

 

1.00

%

 

 

8.90

%

 

6/6/2030

 

 

8,979

 

 

 

8,885

 

 

 

8,889

 

 

 

-

 

Monarch Behavioral Therapy, LLC (Delayed Draw)

 

(a)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 5.00%

 

 

1.00

%

 

 

8.90

%

 

6/6/2030

 

 

1,378

 

 

 

1,372

 

 

 

1,361

 

 

 

266

 

Monarch Behavioral Therapy, LLC (Revolver)

 

(a)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 5.00%

 

 

1.00

%

 

 

8.90

%

 

6/6/2030

 

 

947

 

 

 

937

 

 

 

936

 

 

 

167

 

Ovation Healthcare LLC

 

(b)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 5.40%

 

 

1.00

%

 

 

9.22

%

 

5/26/2028

 

 

1,606

 

 

 

1,599

 

 

 

1,606

 

 

 

-

 

Ovation Healthcare LLC (Delayed Draw)

 

(b)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 5.40%

 

 

1.00

%

 

 

9.22

%

 

5/26/2028

 

 

750

 

 

 

747

 

 

 

750

 

 

 

-

 

Ovation Healthcare LLC (Revolver)

 

(b)

 

First Lien

 

Health Care Providers & Services

 

United States

 

S + 5.40%

 

 

1.00

%

 

 

9.67

%

 

5/28/2027

 

 

-

 

 

 

(12

)

 

 

-

 

 

 

1,757

 

Advantmed Buyer Inc

 

(b)

 

First Lien

 

Health Care Technology

 

United States

 

S + 4.50%

 

 

1.00

%

 

 

8.57

%

 

2/14/2031

 

 

11,429

 

 

 

11,316

 

 

 

11,315

 

 

 

-

 

Advantmed Buyer Inc (Delayed Draw)

 

(b)

 

First Lien

 

Health Care Technology

 

United States

 

S + 4.50%

 

 

1.00

%

 

 

8.57

%

 

2/14/2031

 

 

1,617

 

 

 

1,612

 

 

 

1,601

 

 

 

-

 

Advantmed Buyer Inc (Revolver)

 

(b)

 

First Lien

 

Health Care Technology

 

United States

 

S + 4.50%

 

 

1.00

%

 

 

0.50

%

 

2/14/2031

 

 

-

 

 

 

(21

)

 

 

(22

)

 

 

2,189

 

Greenway Health, LLC

 

(d)

 

First Lien

 

Health Care Technology

 

United States

 

S + 6.75%

 

 

0.00

%

 

 

10.60

%

 

4/1/2029

 

 

9,514

 

 

 

9,356

 

 

 

9,514

 

 

 

-

 

Hansei Solutions, LLC

 

(d)

 

First Lien

 

Health Care Technology

 

United States

 

S + 6.50%

 

 

1.00

%

 

 

10.34

%

 

1/8/2029

 

 

5,504

 

 

 

5,454

 

 

 

5,421

 

 

 

-

 

Hansei Solutions, LLC (Delayed Draw)

 

(b)

 

First Lien

 

Health Care Technology

 

United States

 

S + 6.50%

 

 

1.00

%

 

 

10.32

%

 

1/8/2029

 

 

2,055

 

 

 

2,047

 

 

 

2,024

 

 

 

-

 

Hansei Solutions, LLC (Revolver)

 

(b)

 

First Lien

 

Health Care Technology

 

United States

 

S + 6.50%

 

 

1.00

%

 

 

10.32

%

 

1/8/2029

 

 

518

 

 

 

510

 

 

 

502

 

 

 

518

 

 

 

Investments

 

 

 

Asset Type

 

Industry

 

Region

 

Reference Rate and Spread

 

Interest Rate Floor

 

 

Interest Rate

 

 

Maturity Date

 

Principal/
Shares

 

 

Amortized Cost

 

 

Fair Value

 

 

Unfunded Principal

 

Visante Acquisition, LLC

 

(b)

 

First Lien

 

Health Care Technology

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.32

%

 

1/31/2030

 

 

8,249

 

 

 

8,178

 

 

 

8,249

 

 

 

-

 

Visante Acquisition, LLC (Revolver)

 

(b)

 

First Lien

 

Health Care Technology

 

United States

 

S + 5.75%

 

 

1.00

%

 

 

0.50

%

 

1/31/2030

 

 

-

 

 

 

(8

)

 

 

-

 

 

 

976

 

Thornton Carpet, LLC

 

(a)

 

First Lien

 

Household Durables

 

United States

 

S + 4.75%

 

 

1.00

%

 

 

8.65

%

 

5/15/2031

 

 

5,459

 

 

 

5,408

 

 

 

5,432

 

 

 

-

 

Thornton Carpet, LLC (Revolver)

 

(b)

 

First Lien

 

Household Durables

 

United States

 

S + 4.75%

 

 

1.00

%

 

 

0.50

%

 

5/15/2031

 

 

-

 

 

 

(24

)

 

 

(14

)

 

 

2,764

 

OEG Borrower, LLC

 

(b)

 

First Lien

 

Insurance

 

United States

 

S + 3.50%

 

 

0.00

%

 

 

7.48

%

 

6/30/2031

 

 

1,970

 

 

 

1,967

 

 

 

1,985

 

 

 

-

 

The Mutual Group, LLC

 

(b)

 

First Lien

 

Insurance

 

United States

 

S + 5.75%

 

 

1.00

%

 

 

9.82

%

 

1/31/2030

 

 

9,497

 

 

 

9,411

 

 

 

9,497

 

 

 

-

 

The Mutual Group, LLC (Revolver)

 

(b)

 

First Lien

 

Insurance

 

United States

 

S + 5.75%

 

 

1.00

%

 

 

0.50

%

 

1/31/2030

 

 

-

 

 

 

(6

)

 

 

-

 

 

 

691

 

Tricor, LLC

 

(a)

 

First Lien

 

Insurance

 

United States

 

S + 5.35%

 

 

1.00

%

 

 

9.25

%

 

8/8/2031

 

 

6,146

 

 

 

6,096

 

 

 

6,146

 

 

 

-

 

Tricor, LLC (Delayed Draw)

 

(a)

 

First Lien

 

Insurance

 

United States

 

S + 5.35%

 

 

0.00

%

 

 

9.25

%

 

8/8/2031

 

 

5,386

 

 

 

5,356

 

 

 

5,386

 

 

 

2,381

 

Tricor, LLC (Revolver)

 

(a)

 

First Lien

 

Insurance

 

United States

 

S + 5.25%

 

 

1.00

%

 

 

0.50

%

 

8/8/2031

 

 

-

 

 

 

(8

)

 

 

-

 

 

 

996

 

XPT Partners, LLC

 

(b)

 

First Lien

 

Insurance

 

United States

 

S + 5.00%

 

 

1.00

%

 

 

8.88

%

 

9/13/2028

 

 

5,038

 

 

 

4,996

 

 

 

5,038

 

 

 

-

 

XPT Partners, LLC (Delayed Draw)

 

(b)

 

First Lien

 

Insurance

 

United States

 

S + 5.25%

 

 

1.00

%

 

 

9.25

%

 

9/13/2028

 

 

1,197

 

 

 

1,191

 

 

 

1,197

 

 

 

-

 

XPT Partners, LLC (Revolver)

 

(a)

 

First Lien

 

Insurance

 

United States

 

S + 5.00%

 

 

1.00

%

 

 

8.96

%

 

9/13/2028

 

 

198

 

 

 

196

 

 

 

198

 

 

 

73

 

Case Works, LLC

 

(b)

 

First Lien

 

Interactive Media & Services

 

United States

 

S + 5.25%

 

 

1.00

%

 

 

9.32

%

 

10/1/2029

 

 

4,951

 

 

 

4,908

 

 

 

4,505

 

 

 

-

 

Case Works, LLC (Delayed Draw)

 

(b)

 

First Lien

 

Interactive Media & Services

 

United States

 

S + 5.25%

 

 

1.00

%

 

 

9.32

%

 

10/1/2029

 

 

743

 

 

 

741

 

 

 

676

 

 

 

-

 

Case Works, LLC (Revolver)

 

(b)

 

First Lien

 

Interactive Media & Services

 

United States

 

S + 5.25%

 

 

1.00

%

 

 

9.32

%

 

10/1/2029

 

 

456

 

 

 

451

 

 

 

401

 

 

 

148

 

Argano, LLC

 

(a)

 

First Lien

 

IT Services

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.40

%

 

9/13/2029

 

 

11,430

 

 

 

11,297

 

 

 

11,430

 

 

 

-

 

Argano, LLC (Delayed Draw)

 

(a)

 

First Lien

 

IT Services

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.40

%

 

9/13/2029

 

 

5,008

 

 

 

4,972

 

 

 

5,008

 

 

 

-

 

Argano, LLC (Revolver)

 

(b)

 

First Lien

 

IT Services

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

0.50

%

 

9/13/2029

 

 

-

 

 

 

(4

)

 

 

-

 

 

 

348

 

Asurion, LLC

 

(b)

 

First Lien

 

IT Services

 

United States

 

S + 4.10%

 

 

0.00

%

 

 

7.92

%

 

8/19/2028

 

 

4,160

 

 

 

4,159

 

 

 

4,159

 

 

 

-

 

Boston Clinical Trials LLC

 

(b)

 

First Lien

 

Life Sciences Tools & Services

 

United States

 

S + 4.90%

 

 

0.00

%

 

 

8.97

%

 

12/20/2027

 

 

4,311

 

 

 

4,280

 

 

 

4,311

 

 

 

-

 

BCP VI Summit Holdings LP

 

(a)

 

First Lien

 

Machinery

 

United States

 

S + 2.75%

 

 

0.00

%

 

 

6.67

%

 

1/30/2032

 

 

1,985

 

 

 

1,977

 

 

 

1,995

 

 

 

-

 

ABG Intermediate Holdings 2 LLC

 

(f)

 

First Lien

 

Media

 

United States

 

S + 2.00%

 

 

0.00

%

 

 

0.00

%

 

9/22/2033

 

 

2,000

 

 

 

1,985

 

 

 

1,988

 

 

 

-

 

 

 

Investments

 

 

 

Asset Type

 

Industry

 

Region

 

Reference Rate and Spread

 

Interest Rate Floor

 

 

Interest Rate

 

 

Maturity Date

 

Principal/
Shares

 

 

Amortized Cost

 

 

Fair Value

 

 

Unfunded Principal

 

TKO Worldwide Holdings, LLC

 

(f)

 

First Lien

 

Media

 

United States

 

S + 1.75%

 

 

0.00

%

 

 

0.00

%

 

11/21/2031

 

 

1,995

 

 

 

1,994

 

 

 

1,994

 

 

 

-

 

WH Borrower, LLC

 

(b)

 

First Lien

 

Media

 

United States

 

S + 4.25%

 

 

0.00

%

 

 

8.20

%

 

2/20/2032

 

 

1,980

 

 

 

1,973

 

 

 

1,991

 

 

 

-

 

Minerals Technologies Inc.

 

(a)

 

First Lien

 

Metals & Mining

 

United States

 

S + 2.00%

 

 

0.00

%

 

 

5.90

%

 

11/26/2031

 

 

1,965

 

 

 

1,974

 

 

 

1,969

 

 

 

-

 

Violet Utility Buyer, LLC

 

(b)

 

First Lien

 

Multi-Utilities

 

United States

 

S + 5.00%

 

 

1.00

%

 

 

8.82

%

 

7/24/2031

 

 

15,002

 

 

 

14,860

 

 

 

14,777

 

 

 

-

 

Violet Utility Buyer, LLC (Revolver)

 

(a)

 

First Lien

 

Multi-Utilities

 

United States

 

S + 5.00%

 

 

0.00

%

 

 

8.89

%

 

7/24/2031

 

 

2,043

 

 

 

2,013

 

 

 

1,994

 

 

 

1,252

 

Delek US Holdings, Inc.

 

(a)

 

First Lien

 

Oil, Gas & Consumable Fuels

 

United States

 

S + 3.00%

 

 

0.00

%

 

 

6.90

%

 

5/17/2032

 

 

1,995

 

 

 

1,995

 

 

 

2,001

 

 

 

-

 

Third Coast Infrastructure, LLC

 

(a)

 

First Lien

 

Oil, Gas & Consumable Fuels

 

United States

 

S + 3.25%

 

 

0.00

%

 

 

7.15

%

 

9/25/2030

 

 

988

 

 

 

987

 

 

 

995

 

 

 

-

 

Alvogen Pharma US, Inc.

 

(b)(g)

 

Second Lien

 

Pharmaceuticals

 

United States

 

S + 10.50% (incl. 8.00% PIK)

 

 

0.00

%

 

 

14.57

%

 

3/1/2029

 

 

884

 

 

 

650

 

 

 

491

 

 

 

-

 

Nephron Pharmaceuticals, LLC

 

(e)

 

First Lien

 

Pharmaceuticals

 

United States

 

P + 4.00%

 

 

3.25

%

 

 

9.75

%

 

12/30/2027

 

 

1,763

 

 

 

1,755

 

 

 

1,763

 

 

 

-

 

Nephron Pharmaceuticals, LLC

 

(e)

 

First Lien

 

Pharmaceuticals

 

United States

 

P + 9.20%

 

 

3.25

%

 

 

14.95

%

 

12/30/2027

 

 

5,997

 

 

 

5,955

 

 

 

5,637

 

 

 

-

 

Syner-G Intermediate Holdings, LLC

 

(b)

 

First Lien

 

Pharmaceuticals

 

United States

 

S + 5.25%

 

 

1.00

%

 

 

9.32

%

 

9/17/2030

 

 

10,197

 

 

 

10,116

 

 

 

9,687

 

 

 

-

 

Syner-G Intermediate Holdings, LLC (Revolver)

 

(b)

 

First Lien

 

Pharmaceuticals

 

United States

 

S + 5.25%

 

 

1.00

%

 

 

9.32

%

 

9/17/2030

 

 

172

 

 

 

164

 

 

 

115

 

 

 

977

 

WHF Equity Consideration LLC (11 shares)

 

 

 

Common Stock

 

Pharmaceuticals

 

United States

 

 

 

 

 

 

 

 

 

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Eisner Advisory Group LLC

 

(a)

 

First Lien

 

Professional Services

 

United States

 

S + 4.00%

 

 

0.50

%

 

 

7.90

%

 

2/28/2031

 

 

1,448

 

 

 

1,457

 

 

 

1,447

 

 

 

-

 

Harbour Benefit Holdings, Inc.

 

(b)

 

First Lien

 

Professional Services

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.57

%

 

7/11/2029

 

 

9,800

 

 

 

9,707

 

 

 

9,800

 

 

 

-

 

Harbour Benefit Holdings, Inc. (Revolver)

 

(a)

 

First Lien

 

Professional Services

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

5.50

%

 

7/11/2029

 

 

628

 

 

 

618

 

 

 

628

 

 

 

572

 

HFW Companies, LLC

 

(b)

 

First Lien

 

Professional Services

 

United States

 

S + 5.00%

 

 

1.00

%

 

 

8.75

%

 

5/1/2031

 

 

8,777

 

 

 

8,697

 

 

 

8,645

 

 

 

-

 

HFW Companies, LLC (Delayed Draw)

 

(a)

 

First Lien

 

Professional Services

 

United States

 

S + 5.00%

 

 

1.00

%

 

 

8.90

%

 

5/1/2031

 

 

3,912

 

 

 

3,891

 

 

 

3,807

 

 

 

3,109

 

HFW Companies, LLC (Revolver)

 

(a)

 

First Lien

 

Professional Services

 

United States

 

S + 5.00%

 

 

1.00

%

 

 

8.89

%

 

5/1/2031

 

 

331

 

 

 

322

 

 

 

316

 

 

 

614

 

Schola Group Acquisition, Inc.

 

(b)

 

First Lien

 

Professional Services

 

United States

 

S + 4.75%

 

 

1.00

%

 

 

8.49

%

 

4/9/2031

 

 

5,408

 

 

 

5,360

 

 

 

5,408

 

 

 

-

 

Schola Group Acquisition, Inc. (Delayed Draw)

 

(b)

 

First Lien

 

Professional Services

 

United States

 

S + 4.75%

 

 

0.00

%

 

 

8.64

%

 

4/9/2031

 

 

2,660

 

 

 

2,647

 

 

 

2,660

 

 

 

1,894

 

Schola Group Acquisition, Inc. (Revolver)

 

(b)

 

First Lien

 

Professional Services

 

United States

 

S + 4.75%

 

 

0.00

%

 

 

0.50

%

 

4/9/2031

 

 

-

 

 

 

(10

)

 

 

-

 

 

 

1,141

 

Strategy Corps, LLC

 

(a)

 

First Lien

 

Professional Services

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.40

%

 

6/28/2030

 

 

6,201

 

 

 

6,143

 

 

 

6,108

 

 

 

-

 

 

 

Investments

 

 

 

Asset Type

 

Industry

 

Region

 

Reference Rate and Spread

 

Interest Rate Floor

 

 

Interest Rate

 

 

Maturity Date

 

Principal/
Shares

 

 

Amortized Cost

 

 

Fair Value

 

 

Unfunded Principal

 

Strategy Corps, LLC (Revolver)

 

(a)

 

First Lien

 

Professional Services

 

United States

 

S + 5.50%

 

 

1.00

%

 

 

9.40

%

 

6/28/2030

 

 

404

 

 

 

391

 

 

 

379

 

 

 

1,246

 

CDK Global, Inc.

 

(b)

 

First Lien

 

Software

 

United States

 

S + 3.25%

 

 

0.00

%

 

 

7.32

%

 

7/6/2029

 

 

990

 

 

 

987

 

 

 

530

 

 

 

-

 

Irving Parent, Corp.

 

(b)

 

First Lien

 

Software

 

United States

 

S + 5.25%

 

 

1.00

%

 

 

9.32

%

 

3/11/2031

 

 

16,424

 

 

 

16,224

 

 

 

16,095

 

 

 

-

 

Irving Parent, Corp. (Revolver)

 

(b)

 

First Lien

 

Software

 

United States

 

S + 5.25%

 

 

1.00

%

 

 

9.27

%

 

3/11/2031

 

 

715

 

 

 

688

 

 

 

667

 

 

 

1,667

 

BW Gas & Convenience Holdings, LLC

 

(a)

 

First Lien

 

Specialty Retail

 

United States

 

S + 3.61%

 

 

0.50

%

 

 

7.52

%

 

3/31/2028

 

 

1,933

 

 

 

1,933

 

 

 

1,943

 

 

 

-

 

Penney Holdings LLC

 

(a)

 

First Lien

 

Specialty Retail

 

United States

 

S + 8.13%

 

 

2.50

%

 

 

12.04

%

 

9/20/2030

 

 

5,000

 

 

 

4,895

 

 

 

5,000

 

 

 

-

 

Xcel Brands, Inc. (5,750 warrants)

 

 

 

Warrants

 

Specialty Retail

 

United States

 

N/A

 

 

0.00

%

 

N/A

 

 

12/12/2034

 

 

6

 

 

 

23

 

 

 

1

 

 

 

-

 

DXP Enterprises, Inc.

 

(a)

 

First Lien

 

Trading Companies & Distributors

 

United States

 

S + 3.25%

 

 

0.00

%

 

 

7.15

%

 

10/11/2030

 

 

1,455

 

 

 

1,449

 

 

 

1,466

 

 

 

-

 

Harrington Process Solutions

 

(b)

 

First Lien

 

Trading Companies & Distributors

 

United States

 

S + 4.00%

 

 

0.00

%

 

 

7.91

%

 

7/5/2033

 

 

1,357

 

 

 

1,350

 

 

 

1,365

 

 

 

-

 

Harrington Process Solutions (Delayed Draw)

 

(b)

 

First Lien

 

Trading Companies & Distributors

 

United States

 

S + 4.00%

 

 

0.00

%

 

 

1.00

%

 

7/5/2033

 

 

-

 

 

 

-

 

 

 

1

 

 

 

143

 

Verde Purchaser, LLC

 

(b)

 

First Lien

 

Trading Companies & Distributors

 

United States

 

S + 4.00%

 

 

0.00

%

 

 

8.07

%

 

11/30/2030

 

 

1,957

 

 

 

1,951

 

 

 

1,945

 

 

 

-

 

White Cap Supply Holdings, LLC

 

(a)

 

First Lien

 

Trading Companies & Distributors

 

United States

 

S + 3.25%

 

 

0.00

%

 

 

7.15

%

 

10/19/2029

 

 

1,958

 

 

 

1,950

 

 

 

1,950

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

526,497

 

 

 

 

Cash and cash equivalents

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

38,491

 

 

 

 

Credit Facilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(263,600

)

 

 

 

Other Liabilities less Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(9,174

)

 

 

 

Net Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

292,214

 

 

 

 

 

(a) One month SOFR paying monthly.

(b) Three-month SOFR paying quarterly.

(c) Three-month SOFR paying monthly.

(d) Six-month SOFR paying quarterly.

(e) Prime paying quarterly.

(f) Position has not settled as of September 30, 2026. SOFR reference rate not established.

(g) Loan on non-accrual as of September 30, 2026.

 

 

 

Direct Lending

 

As of September 30, 2026, the Direct Lending Portfolio had the following characteristics:

 

 

As of September 30, 2026

 

Average EBITDA at investment close1 ($ millions)

$

18.0

 

Average LTV at investment close2

 

38.4

%

Average Leverage Ratio at investment close3

 

3.5

x

 

1 Average adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA") at investment closing for the Direct Lending portfolio, weighted based on fair value of each respective investment. This calculation includes all Direct Lending investments for which fair value is determined by the Fund's valuation designee ("Valuation Designee") and excludes quoted assets and asset-based lending ("ABL" investments, as well as companies with negative or de minimis EBITDA. Amounts are derived from portfolio company financial statements at the time of investment closing, have not been independently estimated by the Fund, and may reflect a normalized or adjusted amount. Accordingly, the Fund makes no representation or warranty in respect of this information.

2 Average loan-to-value ("LTV") at investment closing represents the net ratio of loan-to-value for each Direct Lending portfolio company, weighted based on the fair value of each respective investment. This calculation includes all Direct Lending investments for which fair value is determined by the Valuation Designee and excludes quoted assets and ABL investments. LTV is calculated as the total net debt through each respective loan tranche divided by the estimated enterprise value of the portfolio company at time of investment closing. Amounts are derived from portfolio company financial statements at the time of investment closing, have not been independently estimated by the Fund, and may reflect a normalized or adjusted amount. Accordingly, the Fund makes no representation or warranty in respect of this information.

3 Average leverage ratio at investment closing represents the leverage ratio for each Direct Lending portfolio company, weighted based on the fair value of each respective investment. This calculation includes all Direct Lending investments for which fair value is determined by the Valuation Designee and excludes quoted assets and ABL investments, as well as companies with negative or de minimis EBITDA. Company leverage is calculated as the total debt as defined in the underlying applicable investment credit agreement through each respective loan tranche divided by the adjusted EBITDA as defined in the underlying applicable investment credit agreement of the portfolio company at the time of investment closing. Amounts were derived from portfolio company financial statements at the time of investment closing, have not been independently verified by the Fund, and may reflect a normalized or adjusted amount. Accordingly, the Fund makes no representation or warranty in respect of this information.

 

 

The information in Item 8.01 was not audited or reviewed or approved for purposes of financial statement preparation or as part of a comprehensive statement of the Fund’s financial results. In that regard, there can be no assurance that the Fund’s final results for the fiscal quarter ended September 30, 2026 will not differ materially from this information.

 

The information in Item 8.01 of this Current Report on Form 8-K is being furnished and shall not be deemed “filed” for any purpose of Section 18 of the Exchange Act, or otherwise subject to the liabilities of such section.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.

 

 

 

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

FIRST EAGLE PRIVATE CREDIT FUND

 

 

 

 

Date:

October 28, 2026

By:

/s/ Jennifer Wilson

 

 

Name:

Title:

Jennifer Wilson
Chief Financial Officer and Treasurer