BCP Investment Corp Commitments Disclosure
8. COMMITMENTS AND CONTINGENCIES
From time-to-time the Company is a party to financial instruments with off-balance sheet risk in the normal course of business in order to meet the needs of the Company’s investment in portfolio companies. Such instruments include commitments to extend credit and may involve, in varying degrees, elements of credit risk in excess of amounts recognized on the Company’s consolidated statements of assets and liabilities. Prior to extending such credit, the Company attempts to limit its credit risk by conducting extensive due diligence, obtaining collateral where necessary and negotiating appropriate financial covenants. As of December 31, 2025 and December 31, 2024, the Company had $30.0 million and $27.2 million of unfunded commitments, respectively.
The Company may, from time to time, enter into commitments to fund investments. These unfunded commitments are assessed for fair value in accordance with ASC 820. As of December 31, 2025 and December 31, 2024, the Company had the following outstanding commitments to fund investments in current portfolio companies:
($ in thousands) |
|
|
|
Par Value |
|
|
Par Value |
|
||
Portfolio Company |
|
Investment |
|
December 31, 2025 |
|
|
December 31, 2024 |
|
||
Accordion Partners LLC (Revolver) |
|
First Lien Debt |
|
N/A |
|
|
$ |
1,623 |
|
|
Accordion Partners LLC(1) |
|
First Lien Debt |
|
N/A |
|
|
|
913 |
|
|
Anthem Sports & Entertainment Inc. (Revolver) |
|
First Lien Debt |
|
N/A |
|
|
|
83 |
|
|
Anthem Sports & Entertainment Inc.(1) |
|
First Lien Debt |
|
N/A |
|
|
|
307 |
|
|
BetaNXT, Inc. (Revolver) |
|
First Lien Debt |
|
|
2,008 |
|
|
|
1,401 |
|
Bradshaw International Parent Corp. (Revolver) |
|
First Lien Debt |
|
|
1,844 |
|
|
|
922 |
|
CCMG Buyer, LLC (Care Connectors Medical Group) (Revolver) |
|
First Lien Debt |
|
|
500 |
|
|
|
500 |
|
Dentive, LLC (Revolver) |
|
First Lien Debt |
|
|
210 |
|
|
|
117 |
|
Dentive, LLC(1) |
|
First Lien Debt |
|
N/A |
|
|
|
427 |
|
|
Epilog Partners SPV III, LLC (Care Connectors Medical Group) |
|
Equity |
|
|
74 |
|
|
|
87 |
|
Fortis Payment Systems, LLC(1) |
|
First Lien Debt |
|
N/A |
|
|
|
387 |
|
|
Franchise Group, Inc. (DIP)(1) |
|
First Lien Debt |
|
N/A |
|
|
|
249 |
|
|
HDC/HW Intermediate Holdings, LLC (Term Loan A)(1) |
|
First Lien Debt |
|
N/A |
|
|
|
— |
|
|
IDC Infusion Services LLC(1) |
|
First Lien Debt |
|
N/A |
|
|
|
130 |
|
|
Luminii LLC (Revolver) |
|
First Lien Debt |
|
N/A |
|
|
|
172 |
|
|
Metrc Inc.(1) |
|
First Lien Debt |
|
|
394 |
|
|
|
— |
|
Metrc Inc. (Revolver) |
|
First Lien Debt |
|
|
1,240 |
|
|
|
— |
|
Middle West Spirits, LLC (Revolver) |
|
First Lien Debt |
|
|
1,833 |
|
|
|
— |
|
Morae Global Corporation (Revolver) |
|
First Lien Debt |
|
|
100 |
|
|
|
208 |
|
Morae Global Corporation (Term Loan A)(1) |
|
First Lien Debt |
|
|
2,143 |
|
|
|
— |
|
Netwrix Corporation (Revolver) |
|
First Lien Debt |
|
|
1,148 |
|
|
|
1,148 |
|
Newbury Franklin Industrials, LLC(1) |
|
First Lien Debt |
|
|
853 |
|
|
|
987 |
|
PhyNet Dermatology LLC(1) |
|
First Lien Debt |
|
N/A |
|
|
|
690 |
|
|
PMA Parent Holdings LLC (Revolver) |
|
First Lien Debt |
|
|
197 |
|
|
|
99 |
|
PMP OPCO, LLC (Princeton Medspa Partners, LLC) (Revolver) |
|
First Lien Debt |
|
|
188 |
|
|
|
188 |
|
PMP OPCO, LLC (Princeton Medspa Partners, LLC)(1) |
|
First Lien Debt |
|
|
182 |
|
|
|
1,125 |
|
Riddell, Inc.(1) |
|
First Lien Debt |
|
N/A |
|
|
|
636 |
|
|
Riskonnect Parent LLC(1) |
|
First Lien Debt |
|
N/A |
|
|
|
5,000 |
|
|
RN Enterprises, LLC(1) |
|
First Lien Debt |
|
|
683 |
|
|
|
— |
|
Series A - Great Lakes Funding II LLC |
|
Joint Ventures |
|
N/A |
|
|
|
8,165 |
|
|
Series B - Great Lakes Funding II LLC |
|
Joint Ventures |
|
|
12,594 |
|
|
N/A |
|
|
Shepherd Parent Holdings, LLC(1) |
|
First Lien Debt |
|
|
568 |
|
|
|
— |
|
Shepherd Parent Holdings, LLC (Revolver) |
|
First Lien Debt |
|
|
387 |
|
|
|
— |
|
Spark Buyer, LLC(1) |
|
First Lien Debt |
|
|
571 |
|
|
|
— |
|
Spinrite, Inc. (Revolver) |
|
First Lien Debt |
|
|
438 |
|
|
|
— |
|
TA/WEG Holdings, LLC (Revolver) |
|
First Lien Debt |
|
|
1,222 |
|
|
|
784 |
|
Tactical Air Support, Inc.(1) |
|
First Lien Debt |
|
|
571 |
|
|
|
— |
|
Taoglas Group Holdings Limited (Revolver) |
|
First Lien Debt |
|
|
35 |
|
|
|
— |
|
VBC Spine Opco LLC (DxTx Pain and Spine LLC) (Revolver) |
|
First Lien Debt |
|
N/A |
|
|
|
129 |
|
|
VBC Spine Opco LLC (DxTx Pain and Spine LLC)(1) |
|
First Lien Debt |
|
N/A |
|
|
|
761 |
|
|
Total Unfunded Portfolio Company Commitments |
|
|
|
$ |
29,983 |
|
|
$ |
27,238 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 5, 2026 | Showing above |
| 2024 | Mar 13, 2025 | |
| 2023 | Mar 13, 2024 | |
| 2022 | Mar 9, 2023 | |
About Commitments Disclosures
Commitments and contingencies disclosures catalog a company's off-balance-sheet obligations and legal exposures — purchase commitments, guarantee arrangements, pending litigation, and regulatory proceedings. These items represent potential future cash outflows that may not appear as liabilities on the balance sheet until they become probable and estimable.
Key signals: litigation reserves and disclosed loss ranges quantify management's estimate of legal exposure, but unquantified "reasonably possible" losses often represent the larger risk. Watch for changes in language around pending cases — shifts from "remote" to "reasonably possible" or increases in estimated loss ranges signal deteriorating outcomes. Unconditional purchase obligations and take-or-pay contracts create fixed cost structures that reduce operational flexibility. Guarantee arrangements for subsidiaries or joint ventures can create cascading obligations. Compare the total commitment schedule against projected free cash flow to assess whether the company can meet its obligations without additional financing.