Skip to main content
Private-Credit Borrower

People, Pets & Vets (PPV Intermediate Holdings, LLC)

People, Pets & Vets (PPV) is a veterinarian-led group of general and surgical animal hospitals founded in 1992, operating locations across the western and southern United States. The platform provides business support to its hospitals while letting each maintain local identity and medical autonomy. In September 2022, PPV was acquired by VetCor, a portfolio company of Harvest Partners and Cressey & Company, in a transaction valued at over $1.1 billion; at that time PPV operated more than 150 animal hospitals.

Company profile. Written by an AI model from public web sources; not checked for copying; not taken from the company's or the lender's SEC filing. — distinct from the SEC Schedule-of-Investments pricing data below. · AI-generated analysis. Not investment advice. May contain errors.

Ask AI about this borrower →
6
BDC Lenders
20
Debt Positions
1
Equity / Other Position

Lenders

People, Pets & Vets is held by 6 BDC lenders in our parsed SEC filings: BXSL, CGBD, GBDC, MSDL, NMFC, OBDC.

Cross-lender loan pricing

Each row is one debt tranche at the BDC’s most recent filing that holds this borrower, widest spread first. Mark is the position’s fair value as a percent of par (100 = par). Spread is shown in basis points over the benchmark in the Rate column, normalized from each filing’s as-reported units — rows quoting different benchmarks are still not directly comparable. Compare like-for-like: a second-lien tranche, a different vintage, or an older filing should price wider even when the credit view is identical — check the Type and Filing columns before reading a gap as disagreement. Source: SEC EDGAR (public). Lenders whose newest filing no longer names this borrower are listed separately under “Exited” below.

BDCTypeRateCash spread (bps)Mark (% of par)Fair ValueMaturityFiling
CGBD1L Sr SecuredSOFR60097.6$201K2029-08-312026-08-06
OBDC1L Sr SecuredSOFR60097.7$2M2029-082026-08-05
BXSL1L Sr SecuredSOFR57598.0$2M2029-08-312026-08-06
CGBD1L Sr SecuredSOFR57597.9$15M2029-08-312026-08-06
GBDC1L Sr SecuredSOFR57598.0$14M2029-082026-08-03
GBDC1L Sr SecuredSOFR57594.5$256K2029-082026-08-03
MSDL1L Sr SecuredSOFR57598.5$4M2029-08-312026-08-06
MSDL1L Sr SecuredSOFR57598.5$15M2029-08-312026-08-06
NMFC1L Sr SecuredSOFR57598.1$8M2029-082026-08-03
NMFC1L Sr SecuredSOFR57598.1$22M2029-082026-08-03
NMFC1L Sr SecuredSOFR57598.2$167K2029-082026-08-03
OBDC1L Sr SecuredSOFR57597.1$28M2029-082026-08-05
BXSL1L Sr SecuredSOFR52594.1$238K2029-08-312026-08-06
CGBD1L Sr SecuredSOFR52589.9$5M2029-08-312026-08-06
GBDC1L Sr SecuredSOFR52596.8$5M2029-082026-08-03
GBDC1L Sr SecuredPIK—95.3$503K2030-082026-08-03
GBDC1L Sr SecuredPIK—94.8$92K2030-082026-08-03
GBDC1L Sr SecuredPIK—98.2$11M2030-082026-08-03
GBDC1L Sr SecuredPIK—95.2$2M2030-082026-08-03
GBDC1L Sr SecuredPIK—95.8$91K2030-082026-08-03

Marks reflect each BDC’s own fair-value estimates as reported to the SEC, not traded prices. Private-credit loans are predominantly Level 3 under ASC 820 — valued from unobservable inputs and determined in good faith under the oversight of each BDC’s board (often by the adviser as valuation designee), so figures are estimates as of the period end each filing reports, not its filing date, and are not directly comparable across managers. Informational only; not investment advice or a valuation.

Equity and other positions

Current positions that are not funded debt (equity, preferred, units) — counted among the BDCs that hold this borrower, but they carry no loan spread, so they sit outside the pricing table. Source: SEC EDGAR (public).

BDCTypeFair ValueFiling
OBDCSenior Secured · Senior Secured$02026-08-05

Exited

Exited or inactive lenders: last-filed positions, not current. Excluded from every count and figure above.

BDCStatusPositionsLast-filed Fair Value
CCAPExited (last filed 2023-02-22)6$4M

Ownership & deal activity

No acquisition, ownership-change, or refinancing headlines for People, Pets & Vets are in our verified news index yet. Most BDC borrowers are private companies, so ownership events are not always public; absence reflects our indexing coverage, not the borrower’s deal activity.

Headlines mentioning People, Pets & Vets

We haven’t indexed any headlines that name People, Pets & Vets. That reflects our news-indexing coverage — not the borrower’s activity — so the absence is not a signal.

Reading this table

When two business development companies lend to the same borrower, comparing how each marks the loan is a starting question, not a verdict. In plain English: a wider spread (e.g. S+575 vs S+525) or a lower mark (e.g. 96 vs 100 cents on the dollar) can mean that lender is pricing in more risk — but marks can also differ for reasons other than a credit view: a different tranche (second lien should price wider than first lien on the same company), a different vintage or entry point, an older filing date, or each manager’s own fair-value methodology. Compare like-for-like — check the Type and Filing columns before reading a gap as disagreement. Each row is one debt position at one BDC’s most recent filing. Source: SEC EDGAR Schedule of Investments (public).

Want to read these numbers like an analyst? Free Oxford Ledge lessons: reading a BDC’s Schedule of Investments, key credit metrics, and the Five Cs of credit analysis.