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Enviornmental Services Interest Rate 8.93% Reference Rate and Spread S + 5.25% Floor 1.00% Maturity 2/21/20322026-03-310001726548Investment in Senior Secured Loan -191.3% Metrc, Inc Software Interest Rate 9.18% Reference Rate and Spread S + 5.50% Floor 1.00% Maturity 09/30/20312026-03-310001726548bcpl:TacticalAirSupportIncMemberbcpl:SeniorSecuredLoanNineteenMember2025-12-310001726548bcpl:AccountingStandardUpdate201104Memberbcpl:SeniorSecuredLoanMember2025-12-310001726548Investment in Senior Secured Loan -178.8% Florida Food Products, LLC Food Products Interest Rate 9.15% Reference Rate and Spread S + 5.50% Floor 2.00% Maturity 10/15/2030 One2025-12-310001726548bcpl:EquityOtherMemberbcpl:Non-ControlledAndNon-AffiliatedIssuerMember2026-03-310001726548Investment in Equity/Other – 7.7%, Middle West Spirits, Beverages2026-03-310001726548Investment in Equity/Other – 5.9%, American Academy Holdings Preferred, Health Care Providers & Services2025-12-310001726548bcpl:TacticalAirSupportIncMemberbcpl:SeniorSecuredLoanNineteenMember2026-03-310001726548Investment in Senior Secured Loan -178.8% Spark Buyer LLC Electrical Equipment Interest Rate 8.90% Reference Rate and Spread S + 5.25% Floor 0.00% Maturity 10/15/20312025-12-310001726548Senior Secured Loan - 178.8% VBC Spine Opco LLC Health Care Providers & Services Interest Rate 10.15% Reference Rate and Spread S + 6.50% Floor 1.00% Maturity 6/13/20282025-12-310001726548Investment in Senior Secured Loan -191.3% Accurate Background LLC IT Services Interest Rate 9.68% Reference Rate and Spread S + 6.00% Floor 0.00% Maturity 3/26/20292026-03-310001726548bcpl:SeniorSecuredLoanTenMemberbcpl:MoraeGlobalIncMember2026-03-310001726548Investment in Senior Secured Ioan -191.3% 13 Scents Inc. Personal Care Products Interest Rate 10.43% Reference Rate and Spread S + 6.75% Floor 0.00% Maturity 3/31/2031 One2026-03-310001726548us-gaap:FairValueInputsLevel3Memberbcpl:SeniorSecuredLoanTwoMember2025-12-310001726548us-gaap:FairValueInputsLevel3Memberbcpl:OptionPurchasePriceMemberbcpl:MarketMemberbcpl:EquityThreeMember2025-12-310001726548Senior Secured Loan - 178.8% VBC Spine Opco LLC Health Care Providers & Services Interest Rate 10.15% Reference Rate and Spread S + 6.50% Floor 1.00% Maturity 6/13/2028 Two2025-12-310001726548us-gaap:FairValueInputsLevel3Memberbcpl:SeniorSecuredLoanThreeMember2025-12-310001726548Investment in Senior Secured Loan -178.8% Denali Intermediate Holdings Software Interest Rate 9.15% Reference Rate and Spread S + 5.50% Floor 1.00% Maturity 08/26/20322025-12-310001726548Investment in Senior Secured Loan -191.3% SePRO Corporation Chemicals Interest Rate 9.18% Reference Rate and Spread S + 5.50% Floor 1.00% Maturity 7/26/20302026-03-310001726548us-gaap:RevolvingCreditFacilityMember2025-05-120001726548bcpl:CapitalInExcessOfParMember2025-01-012025-03-310001726548bcpl:SeniorSecuredLoanThreeMemberbcpl:BetaPlusTechnologiesRcMember2025-12-310001726548Investment in Senior Secured Loan -191.3% Shepherd Intermediate LLC Health Care Providers & Services Interest Rate 10.93% Reference Rate and Spread S + 7.25% Floor 1.00% Maturity 7/10/2030 Two2026-03-310001726548us-gaap:CommonStockMember2025-01-012025-03-310001726548us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2026-03-310001726548Investment in Senior Secured Loan -178.8% Project Castle T/L Machinery Interest Rate 9.15% Reference Rate and Spread S + 5.50% Floor 1.00% Maturity 6/29/20292025-12-310001726548Investment in Senior Secured Loan -191.3% MHH Holdings III, LLC Health Care Providers & Services Interest Rate 8.68% Reference Rate and Spread S + 5.00% Floor 1.00% Maturity 10/16/20322026-03-310001726548us-gaap:FairValueInputsLevel3Memberus-gaap:ForwardContractsMember2025-01-012025-03-310001726548srt:MinimumMember2026-01-012026-03-310001726548Investment in Senior Secured Loan -178.8% SePRO Corporation Chemicals Interest Rate 9.15% Reference Rate and Spread S + 5.50% Floor 1.00% Maturity 7/26/20302025-12-310001726548Investment in Senior Secured Loan -191.3% Florida Food Products, LLC Food Products Interest Rate 9.18% Reference Rate and Spread S + 5.50% Floor 1.00% Maturity 10/15/20302026-03-310001726548bcpl:ConsumerStaplesDistributionAndRetailMember2025-12-310001726548bcpl:InvestmentAdvisoryAgreementMember2026-01-012026-03-310001726548bcpl:CapitalInExcessOfParMember2026-03-310001726548bcpl:HotelsRestaurantsAndLeisureMember2025-12-310001726548bcpl:SeniorSecuredLoansMemberbcpl:ProfessionalServicesMemberbcpl:PrincetonMedspaPartnersLlcMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-12-310001726548Investment in Senior Secured Loan -178.8% DRI Holdings Inc Software Interest Rate 8.94% Reference Rate and Spread S + 5.25% Floor 0.50% Maturity 12/21/20282025-12-310001726548Investment in Senior Secured Ioan -191.3% 13 Scents Inc. Personal Care Products Interest Rate 10.43% Reference Rate and Spread S + 6.75% Floor 0.00% Maturity 3/31/20312026-03-310001726548Investment in Senior Secured Loan -178.8% Morae Global Inc IT Services Interest Rate 11.65% Reference Rate and Spread S + 8.00% Floor 2.00% Maturity 10/31/2028 One2025-12-310001726548us-gaap:FairValueInputsLevel3Memberbcpl:StructuredNoteMember2025-12-310001726548bcpl:IndustrialConglomeratesMember2025-12-310001726548Investment in Senior Secured Loan -178.8% Spinrite Inc. 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Leisure Products Interest Rate 11.18% Reference Rate and Spread S + 7.50% Floor 0.50% Maturity 12/5/2030 One2026-03-310001726548Investment in Senior Secured Loan -178.8% MHH Holdings III, LLC Health Care Providers & Services Interest Rate 8.65% Reference Rate and Spread S + 5.00% Floor 1.00% Maturity 12/31/2027 One2025-12-310001726548bcpl:CommunicationsEquipmentMember2026-03-310001726548bcpl:NonControlledNonAffiliatedInvestmentsMember2025-01-012025-03-310001726548bcpl:O2026Q2DividendsMemberus-gaap:SubsequentEventMember2026-05-060001726548country:US2026-03-310001726548Investment in Equity/Other – 7.7%, Great Lakes II Funding LLC, Financial Services2026-03-310001726548bcpl:PersonalCareProductsMember2026-03-310001726548us-gaap:CommonStockMember2025-03-310001726548Investment in Senior Secured Loan -191.3% Solve Industrial Motion Group LLC Industrial Conglomerates Interest Rate 8.16% Reference Rate and Spread S + 4.50% Floor 1.00% Maturity 6/29/20272026-03-310001726548Investment in Senior Secured Loan -178.8% KL Charlie Acquisition Financial Services Interest Rate 8.69% Reference Rate and Spread S + 5.00% Floor 1.00% Maturity 12/30/2026 One2025-12-310001726548Investment in Senior Secured Loan -178.8% Accurate Background LLC IT Services Interest Rate 9.65% Reference Rate and Spread S + 6.00% Floor 1.00% Maturity 03/26/2029 One2025-12-310001726548us-gaap:FairValueInputsLevel3Memberbcpl:DiscountedCashFlowsMembersrt:MinimumMemberbcpl:SeniorSecuredLoanMemberbcpl:MarketYieldMember2026-03-310001726548bcpl:MachineryMember2026-03-310001726548us-gaap:FoodAndBeverageSectorMember2026-03-310001726548Senior Secured Loan - 178.8% Validity Inc Software Interest Rate 8.90% Reference Rate and Spread S + 5.25% Floor 0.50% Maturity 4/12/20232025-12-310001726548Investment in Senior Secured Loan -191.3% VBC Spine Opco LLC Health Care Providers & Services Interest Rate 10.18% Reference Rate and Spread S + 6.50% Floor 1.00% Maturity 6/13/20282026-03-310001726548bcpl:ChemicalsMember2026-03-310001726548bcpl:AdvisorMember2017-12-222019-10-020001726548Investment in Equity/Other – 7.7%, HR Pharmaceuticals Inc. 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Software Interest Rate 13.68% Reference Rate and Spread S + 10.00% Floor 1.00% Maturity 6/11/20262026-03-310001726548Investment in Senior Secured Loan -191.3% KL Charlie Acquisition Financial Services Interest Rate 8.66% Reference Rate and Spread S + 5.00% Floor 1.00% Maturity 12/30/20262026-03-310001726548bcpl:EquityOrOtherSecuritiesMemberbcpl:IndustrialsMemberbcpl:GreenParkM1SeriesMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2024-12-310001726548bcpl:HealthCareEquipmentAndSuppliesMember2025-12-310001726548bcpl:TotalDistributableEarningsMember2025-12-310001726548bcpl:ITServicesMember2025-12-310001726548bcpl:ConstructionAndEngineeringMember2025-12-310001726548bcpl:HealthCareTechnologyMember2026-03-310001726548bcpl:AccountingStandardUpdate201104Memberus-gaap:EquityMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2025-12-310001726548bcpl:TotalDistributableEarningsMember2025-01-012025-03-310001726548bcpl:ClassAToRNotesMembersrt:MaximumMemberbcpl:FourthAAndRFacilityMember2021-03-122021-03-120001726548Investment in Senior Secured Loan -191.3% Shepherd Intermediate LLC Health Care Providers & Services Interest Rate 10.93% Reference Rate and Spread S + 7.25% Floor 1.00% Maturity 7/10/2030 One2026-03-310001726548Investment in Senior Secured Loan -191.3% Validity Inc Software Interest Rate 8.93% Reference Rate and Spread S + 5.25% Floor 0.50% Maturity 4/12/20322026-03-310001726548Investment in Senior Secured Loan -191.3% Russell Investments Financial Services Interest Rate 8.68% Reference Rate and Spread S + 5.00% Floor 0.00% Maturity 12/29/20322026-03-310001726548bcpl:BeveragesMember2026-03-310001726548Investment in Senior Secured Ioan -191.3% CB Buyer Inc. 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Automobiles Interest Rate 10.41% Reference Rate and Spread S + 6.75% Floor 1.00% Maturity 4/15/20282026-03-310001726548Investment in Senior Secured Loan -191.3% Morae Global Inc IT Services Interest Rate 11.68% Reference Rate and Spread S + 8.00% Floor 2.00% Maturity 10/31/2028 One2026-03-310001726548Investment in Senior Secured Loan -191.3% Princeton Medspa Partners LLC Diversified Consumer Services Interest Rate 12.18% Reference Rate and Spread S + 8.50% Floor 2.00% Maturity 5/31/2029 One2026-03-310001726548Investment in Equity/Other – 7.7%, VBC Spine Opco LLC, Health Care Providers & Services Interest Rate 14.00% Floor 0.00%2026-03-310001726548bcpl:SeproCorporationMemberbcpl:SeniorSecuredLoanFourteenMember2026-03-310001726548Investment in Senior Secured Loan -191.3% Tactical Air Support, Inc Aerospace & Defense Interest Rate 11.18% Reference Rate and Spread S + 7.50% Floor 1.00% Maturity 12/22/2028 Three2026-03-310001726548Investment in Senior Secured Loan -191.3% DRI Holdings Inc Software Interest Rate 8.91% Reference Rate and Spread S + 5.25% Floor 0.5.00% Maturity 12/21/20282026-03-310001726548us-gaap:FairValueInputsLevel3Memberus-gaap:EquityMember2025-01-012025-03-310001726548bcpl:NonControlAffiliatedInvestmentsMember2026-01-012026-03-310001726548us-gaap:FairValueInputsLevel2Memberbcpl:AccountingStandardUpdate201104Memberus-gaap:EquityMember2025-12-310001726548Investment in Senior Secured Loan -178.8% Spinrite Inc. Leisure Products Interest Rate 11.15% Reference Rate and Spread S + 7.50% Floor 0.50% Maturity 12/5/2030 One2025-12-310001726548Investment in Senior Secured Loan -191.3% Monroe Engineering Group Electronic Equipment, Instruments & Components Interest Rate 8.41% Reference Rate and Spread S + 4.75% Floor 0.00% Maturity 12/20/20282026-03-310001726548Investment in Senior Secured Loan -191.3% Shepherd Intermediate LLC Health Care Providers & Services Interest Rate 10.93% Reference Rate and Spread S + 7.25% Floor 1.00% Maturity 7/10/20302026-03-310001726548Investment in Senior Secured Loan -191.3% Premier Imaging, LLC Health Care Equipment & Supplies Interest Rate 9.66% Reference Rate and Spread S + 6.00% Floor 1.00% Maturity 10/31/20272026-03-310001726548bcpl:OrganizationAndOfferingCostsMember2026-01-012026-03-310001726548us-gaap:FairValueInputsLevel3Memberbcpl:DiscountedCashFlowsMembersrt:MaximumMemberbcpl:MarketYieldMemberbcpl:SeniorSecuredLoanMember2026-03-310001726548us-gaap:FairValueInputsLevel3Memberbcpl:DiscountedCashFlowsMembersrt:MinimumMemberbcpl:SeniorSecuredLoanMemberbcpl:MarketYieldMember2025-12-310001726548us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-12-310001726548Investment in Senior Secured Loan -191.3% NAVIGA INC. 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Software Interest Rate 9.65% Reference Rate and Spread S + 6.00% Floor 1.00% Maturity 12/09/2026 One2025-12-310001726548Investment in Senior Secured Loan -178.8% PMA Parent Holdings LLC Capital Markets Interest Rate 8.40% Reference Rate and Spread S + 4.75% Floor 1.00% Maturity 1/31/2031 One2025-12-310001726548Investment in Senior Secured Loan -191.3% MSM Acquisitions, Inc. Software Interest Rate 9.68% Reference Rate and Spread S + 6.00% Floor 1.00% Maturity 12/9/20262026-03-310001726548Investment in Senior Secured Loan -178.8% KL Charlie Acquisition Financial Services Interest Rate 8.69% Reference Rate and Spread S + 5.00% Floor 1.00% Maturity 12/30/20262025-12-310001726548Investment in Equity/Other - 5.9% Middle West Spirits Beverages2025-12-310001726548us-gaap:FairValueInputsLevel3Memberbcpl:StructuredNoteMember2025-03-310001726548bcpl:WildlandVenturesIntermediateIncMemberbcpl:SeniorSecuredLoanTwentyThreeMember2026-03-310001726548Investment in Senior Secured Loan -178.8% Florida Food Products, LLC Food Products Interest Rate 6.65% Reference Rate and Spread S + 3.00% Floor 1.00% Maturity 10/15/20302025-12-310001726548bcpl:O2026Q2DividendsMemberus-gaap:SubsequentEventMember2026-05-062026-05-060001726548bcpl:SequelResponseLlcMemberbcpl:SeniorSecuredLoanFifteenMember2025-12-310001726548bcpl:TotalDistributableEarningsMember2026-03-310001726548Investment in Senior Secured Loan -178.8% NAVIGA INC. Software Interest Rate 10.65% Reference Rate and Spread S + 7.00% Floor 1.00% Maturity 09/30/20262025-12-310001726548Investment in Senior Secured Loan -178.8% Metrc, Inc Software Interest Rate 9.15% Reference Rate and Spread S + 5.50% Floor 1.00% Maturity 09/30/20312025-12-310001726548bcpl:TradingCompaniesAndDistributorsMember2025-12-310001726548bcpl:EquityOrOtherSecuritiesMemberbcpl:AerospaceAndDefenseMemberbcpl:PhoenixAviationMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2026-01-012026-03-310001726548Investment in Senior Secured Ioan -191.3% Beta Plus Technologies, Inc Financial Services Interest Rate 7.91% Reference Rate and Spread S + 4.25% Floor 0.00% Maturity 7/1/20272026-03-310001726548us-gaap:DebtMember2025-12-310001726548bcpl:ProfessionalServicesMember2026-03-310001726548us-gaap:FairValueInputsLevel3Memberbcpl:DiscountedCashFlowsMemberbcpl:EquityTwoMembersrt:MaximumMemberbcpl:MarketYieldMember2025-12-310001726548Investment in Equity/Other - 5.9% Middle West Spirits Beverage Interest Rate 10.00% Floor 0.00%2025-12-310001726548bcpl:AccountingStandardUpdate201104Memberus-gaap:EquityMemberus-gaap:FairValueInputsLevel1Member2026-03-310001726548Investment in Senior Secured Loan -178.8% SePRO Corporation Chemicals Interest Rate 8.90% Reference Rate and Spread S + 5.25% Floor 1.00% Maturity 7/26/20302025-12-310001726548Investment in Senior Secured Loan -191.3% Denali Intermediate Holdings Software Interest Rate 9.18% Reference Rate and Spread S + 5.50% Floor 1.00% Maturity 8/26/2032 One2026-03-310001726548us-gaap:FairValueInputsLevel3Memberbcpl:AverageEbitdaMultipleMemberbcpl:SeniorSecuredLoanThreeMemberbcpl:EnterpriseValuationMembersrt:MaximumMember2026-03-310001726548Investment in Senior Secured Loan -178.8% Denali Intermediate Holdings Software Interest Rate 9.15% Reference Rate and Spread S + 5.50% Floor 1.00% Maturity 08/26/2032 One2025-12-310001726548us-gaap:FairValueInputsLevel3Memberbcpl:SeniorSecuredLoanOneMember2025-12-310001726548Investment in Senior Secured Loan -191.3% Newbury Franklin Industrials LLC Trading Companies & Distributors Interest Rate 10.68% Reference Rate and Spread S + 7.00% Floor 1.00% Maturity 12/11/20292026-03-310001726548us-gaap:DebtMember2026-03-310001726548us-gaap:FinancialServicesSectorMemberbcpl:EquityOrOtherSecuritiesMemberbcpl:GreatLakesIiFundingLlcMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-12-310001726548us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberbcpl:AverageEbitdaMultipleMemberbcpl:EnterpriseValuationMemberbcpl:EquityOneMember2026-03-310001726548bcpl:EquityOrOtherSecuritiesMemberbcpl:IndustrialsMemberbcpl:GreenParkM1SeriesMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2026-03-310001726548Investment in Senior Secured Loan -178.8% Beta Plus Technologies, Inc Financial Services Interest Rate 9.44% Reference Rate and Spread S + 5.75% Floor 0.00% Maturity 06/29/20292025-12-310001726548Investment in Senior Secured Loan -191.3% MHH Holdings III, LLC Health Care Providers & Services Interest Rate 8.68% Reference Rate and Spread S + 5.00% Floor 1.00% Maturity 12/31/20272026-03-310001726548Investment in Senior Secured Loan -178.8% STG Distribution LLC Transportation Infrastructure Interest Rate 10.79% Reference Rate and Spread S + 7.10% Floor 1.00% Maturity 10/3/20292025-12-310001726548bcpl:SeniorSecuredLoanSixMemberbcpl:DenaliIntermediateHoldingsMember2025-12-310001726548Investment in Senior Secured Loan -178.8% Accordion Partners LLC Professional Services Interest Rate 8.65% Reference Rate and Spread S + 5.00% Floor 1.00% Maturity 11/15/20312025-12-310001726548Investment in Senior Secured Loan -178.8% Accurate Background LLC IT Services Interest Rate 9.65% Reference Rate and Spread S + 6.00% Floor 1.00% Maturity 03/26/20292025-12-310001726548Investment in Equity/Other – 7.7%, American Academy Holdings Preferred, Health Care Providers & Services2026-03-310001726548us-gaap:FairValueInputsLevel3Memberbcpl:VolatilityMemberbcpl:EquityFourMemberus-gaap:ValuationTechniqueOptionPricingModelMember2025-12-310001726548Investment in Senior Secured Loan -191.3% Wealth Enhancement Group Financial Services Interest Rate 8.18% Reference Rate and Spread S + 4.50% Floor 1.00% Maturity 10/2/20282026-03-310001726548Investment in Senior Secured Ioan -191.3% AMCP PET HOLDINGS, INC. Consumer Staples Distribution & Retail Interest Rate 10.68% Reference Rate and Spread S + 7.00% Floor 1.00% Maturity 10/5/20262026-03-310001726548Investment in Senior Secured Loan -178.8% Accordion Partners LLC Professional Services Interest Rate 8.65% Reference Rate and Spread S + 5.00% Floor 1.00% Maturity 11/17/2031 One2025-12-310001726548bcpl:AccountingStandardUpdate201104Memberus-gaap:EquityMember2025-12-310001726548Investment in Equity/Other – 7.7%, Green Park M-1 Series, Commercial Services & Supplies2026-03-310001726548Investment in Senior Secured Loan -191.3% Premier Imaging, LLC Health Care Equipment & Supplies Interest Rate 9.66% Reference Rate and Spread S + 6.00% Floor 1.00% Maturity 10/31/2027 One2026-03-310001726548Investment in Senior Secured Loan -178.8% Ancile Solutions, Inc. Software Interest Rate 13.65% Reference Rate and Spread S + 10.00% Floor 1.00% Maturity 06/11/20262025-12-310001726548bcpl:SubscriptionAgreementsMember2025-01-012025-12-310001726548us-gaap:FairValueInputsLevel3Memberbcpl:SeniorSecuredLoanFiveMember2025-12-310001726548Investment in Senior Secured Loan -178.8% PhyNet Dermatology LLC Health Care Providers & Services One Interest Rate 10.15% Reference Rate and Spread S + 6.50% Floor 75% Maturity 10/20/20292025-12-310001726548us-gaap:FairValueInputsLevel3Memberus-gaap:EquityMember2026-03-310001726548us-gaap:FairValueInputsLevel3Memberbcpl:AccountingStandardUpdate201104Memberus-gaap:EquityMember2026-03-310001726548us-gaap:FairValueInputsLevel3Memberus-gaap:ForwardContractsMember2024-12-310001726548Investment in Senior Secured Loan -191.3% DCERT Buyer, Inc Software Interest Rate 9.43% Reference Rate and Spread S + 5.75% Floor 1.00% Maturity 7/30/20302026-03-310001726548bcpl:ElectronicEquipmentInstrumentsAndComponentsMember2025-12-3100017265482025-01-012025-12-310001726548bcpl:DiversifiedFinancialServicesMember2025-12-310001726548us-gaap:FairValueInputsLevel3Memberbcpl:EquityFourMember2026-03-310001726548Investment in Senior Secured Loan -191.3% SeQuel Response LLC Insurance Interest Rate 9.68% Reference Rate and Spread S + 6.00% Floor 1.25% Maturity 5/21/2029 One2026-03-310001726548bcpl:SecondARFacilityMembersrt:MaximumMember2021-03-120001726548Investment in Senior Secured Loan -191.3% Spark Buyer LLC Electrical Equipment Interest Rate 8.93% Reference Rate and Spread S + 5.25% Floor 1.00% Maturity 10/15/20312026-03-310001726548bcpl:AdvisorMember2019-10-020001726548bcpl:TotalDistributableEarningsMember2026-01-012026-03-310001726548bcpl:PrincetonMedspaPartnersLlcMemberbcpl:ProfessionalServicesMemberbcpl:EquityOrOtherSecuritiesMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2024-12-310001726548us-gaap:FairValueInputsLevel3Memberbcpl:StructuredNoteMember2025-01-012025-03-310001726548Investment in Senior Secured Loan -191.3% Symplr Software Inc Health Care Technology Interest Rate 8.16% Reference Rate and Spread S + 4.50% Floor 0.75% Maturity 12/22/20272026-03-310001726548bcpl:AdministrationAgreementMember2025-01-012025-03-310001726548Investment in Senior Secured Loan -191.3% Project Castle T/L Machinery Interest Rate 9.18% Reference Rate and Spread S + 5.50% Floor 1.00% Maturity 6/29/20292026-03-310001726548bcpl:CapitalInExcessOfParMember2025-12-310001726548us-gaap:FairValueInputsLevel3Memberbcpl:SeniorSecuredLoanFiveMemberus-gaap:ValuationTechniqueOptionPricingModelMemberbcpl:TimeToExitMember2025-12-310001726548Investment in Senior Secured Loan -178.8% Symplr Software Inc Health Care Technology Interest Rate 8.19% Reference Rate and Spread S + 4.50% Floor 0.75% Maturity 12/22/20272025-12-310001726548bcpl:CapitalInExcessOfParMember2025-03-310001726548Investment in Senior Secured Loan -178.8% Ivanti Software Inc Software Interest Rate 9.40% Reference Rate and Spread S + 5.75% Floor 1.00% Maturity 06/01/20292025-12-310001726548us-gaap:FairValueInputsLevel3Memberbcpl:SeniorSecuredLoanFourMemberbcpl:EnterpriseValuationMemberbcpl:RevenueMultipleMember2025-12-310001726548us-gaap:DomesticCountryMember2026-03-310001726548bcpl:AccordionPartnersLlcMemberbcpl:SeniorSecuredLoanTwoMember2026-03-310001726548bcpl:HealthCareProvidersAndServicesMember2026-03-310001726548us-gaap:CommonStockMember2026-03-310001726548us-gaap:RevolvingCreditFacilityMember2025-02-140001726548bcpl:DiversifiedConsumerServicesMember2026-03-310001726548us-gaap:WarrantMemberbcpl:PrincetonMedspaPartnersLlcMemberbcpl:ProfessionalServicesMemberbcpl:EquityOrOtherSecuritiesMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2026-01-012026-03-310001726548Investment in Senior Secured Loan -178.8% LeadVenture Inc Software Interest Rate 8.40% Reference Rate and Spread S + 4.75% Floor 1.00% Maturity 06/23/2032 Two2025-12-310001726548us-gaap:FairValueInputsLevel3Memberbcpl:AverageEbitdaMultipleMemberbcpl:EnterpriseValuationMembersrt:MaximumMemberbcpl:EquityOneMember2025-12-310001726548bcpl:DiversifiedConsumerServicesMember2025-12-310001726548Investment in Senior Secured Ioan -191.3% AMCP PET HOLDINGS, INC. 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and Spread S + 4.75% Floor 0.00% Maturity 12/20/20282025-12-310001726548bcpl:SeniorSecuredLoanTwentyOneMemberbcpl:VbcSpineOpcoLlcMember2025-12-310001726548bcpl:RiddellIncMemberbcpl:SeniorSecuredLoansMemberbcpl:ConsumerStaplesMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2026-01-012026-03-310001726548us-gaap:RevolvingCreditFacilityMember2026-01-012026-03-310001726548Investment in Senior Secured Loan -178.8% Neptune Bidco US Inc Interactive Media & Services Interest Rate 8.69% Reference Rate and Spread S + 5.00% Floor 0.00% Maturity 04/11/20292025-12-310001726548bcpl:SeniorSecuredLoanTenMemberbcpl:MoraeGlobalIncMember2025-12-310001726548Investment in Equity/Other – 7.7%, VBC Spine Opco LLC, Health Care Providers & Services2026-03-310001726548bcpl:SeniorSecuredLoanFiveMemberbcpl:DCERTBuyerIncMember2026-03-310001726548bcpl:SeniorSecuredLoanOneMemberbcpl:ThirteenScentsIncMember2025-12-310001726548Investment in Equity/Other – 7.7%, Morae Global Inc, IT Services One2026-03-310001726548us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberbcpl:DiscountedCashFlowsMemberbcpl:EquityTwoMemberbcpl:MarketYieldMember2025-12-310001726548us-gaap:FinancialServicesSectorMemberbcpl:EquityOrOtherSecuritiesMemberbcpl:GreatLakesIiFundingLlcMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-01-012025-12-310001726548us-gaap:FairValueInputsLevel3Memberbcpl:AccountingStandardUpdate201104Memberbcpl:UnsecuredNoteMember2025-12-310001726548Investment in Senior Secured Loan -178.8% Morae Global Inc IT Services Interest Rate 11.65% Reference Rate and Spread S + 8.00% Floor 2.00% Maturity 10/31/20282025-12-310001726548bcpl:AdvisorMember2026-01-012026-03-310001726548Investment in Senior Secured Ioan -191.3% CJ Foods Inc Food Products Interest Rate 8.68% Reference Rate and Spread S + 5.00% Floor 1.00% Maturity 10/2/20302026-03-310001726548Investment in Senior Secured Loan -178.8% MHH Holdings III, LLC Health Care Providers & Services Interest Rate 8.65% 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3/31/20282026-03-310001726548us-gaap:SeniorLoansMember2026-03-310001726548bcpl:EquityOrOtherSecuritiesMemberbcpl:GreenparkInfrastructureASeriesMemberbcpl:IndustrialsMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2026-03-310001726548bcpl:CapitalInExcessOfParMember2024-12-310001726548us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2026-01-012026-03-310001726548Investment in Senior Secured Loan -178.8% LeadVenture Inc Software Interest Rate 8.40% Reference Rate and Spread S + 4.75% Floor 1.00% Maturity 06/23/20322025-12-310001726548Investment in Senior Secured Loan -191.3% Accurate Background LLC IT Services Interest Rate 9.68% Reference Rate and Spread S + 6.00% Floor 1.00% Maturity 3/26/2029 One2026-03-310001726548Investment in Senior Secured Loan -191.3% Project Leopard Holdings Company Inc Software Interest Rate 8.91% Reference Rate and Spread S + 5.25% Floor 1.00% Maturity 7/20/20292026-03-310001726548bcpl:AccountingStandardUpdate201104Memberus-gaap:EquityMemberus-gaap:FairValueInputsLevel1Member2025-12-310001726548bcpl:EquityOrOtherSecuritiesMemberbcpl:AerospaceAndDefenseMemberbcpl:PhoenixAviationMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2024-12-310001726548Investment in Senior Secured Loan -191.3% Monroe Engineering Group Electronic Equipment, Instruments & Components Interest Rate 8.43% Reference Rate and Spread S + 4.75% Floor 0.00% Maturity 12/20/20282026-03-310001726548bcpl:InteractiveMediaAndServicesMember2026-03-310001726548us-gaap:EquityMember2025-12-310001726548srt:MinimumMemberbcpl:OneThousandNineHundredFortyActMember2026-03-310001726548Investment in Senior Secured Loan -178.8% Princeton Medspa Partners LLC Diversified Consumer Services Interest Rate 12.15% Reference Rate and Spread S + 8.50% Floor 2.00% Maturity 5/31/2029 Two2025-12-310001726548srt:MinimumMemberbcpl:SecondARFacilityMember2021-03-120001726548Investment in 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One)\n\n☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended March 31, 2026\n\nOR\n\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nCommission file number: 814-01269\n\nBC Partners Lending Corporation\n\n(Exact Name of Registrant as Specified in its Charter)\n\nMaryland\n\n82-4654271\n\n(State or Other Jurisdiction of\n\nIncorporation or Organization)\n\n(I.R.S. Employer\n\nIdentification No.)\n\n \n\n \n\n650 Madison Avenue, 3rd Floor\n\nNew York, New York\n\n10022\n\n(Address of Principal Executive Offices)\n\n(Zip Code)\n\n(212) 891-2880\n\n(Registrant’s Telephone Number, Including Area Code)\n\nNot Applicable\n\n(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\n \n\nTitle of each class\n\nTrading Symbol(s).\n\nName of each exchange on which registered\n\nNone\n\nN/A\n\nN/A\n\n \n\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\nLarge accelerated filer\n\n☐\n\n \n\nAccelerated filer\n\n☐\n\nNon-accelerated filer\n\n☒\n\n \n\nSmaller reporting company\n\n☐\n\n \n\n \n\n \n\nEmerging growth company\n\n☒\n\nIf 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. ☐\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒\n\nAs of May 5, 2026, the registrant had 5,260,445 shares of common stock outstanding.\n\n \n\n \n\n \n\nTABLE OF CONTENTS\n\n \n\n \n\nPage\n\n[PART I](#part_i)\n\n[FINANCIAL INFORMATION](#part_i)\n\n3"}