Private company

Diameter Credit Co

Investment fund that raised $1.6 billion in 2023 (SEC Form D)2

In its 2026 annual report the company says: “We are a non-diversified, closed-end management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. In addition, the Company has elected to be treated for U.S. federal income tax purposes, and intends to qualify annually, as a regulated investment company (a “RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (together with the rules and regulations promulgated thereunder, the “Code”).”4 It is headquartered in New York, United States.2

Last updated Oct 20, 2026.

Overview

  • HeadquartersNew York, United States2
  • Incorporated inDE3
  • Business address50 Hudson Yards, Suite 6600A, New York, Ny3
  • Filer category, Emerging growth company3
  • Legal formOther2
  • Kind of organizationInvestment fund2
  • LEI254900NF9EEQOKR6PV232
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O COGENCY GLOBAL INC., 19904 Dover, United States2
  • Registered withDivision of Corporations, Department of State, 66384292

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Diameter Credit Company (the “Company”, “we”, “us”, and “our”) is a Delaware statutory trust that was formed on February 24, 2022. We are a non-diversified, closed-end management investment company that has elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”). In addition, the Company has elected to be treated for U.S. federal income tax purposes, and intends to qualify annually, as a regulated investment company (a “RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (together with the rules and regulations promulgated thereunder, the “Code”).4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income5$106.4M in 2025+130% since 2024
0$50.0M$100.0M$150.0M2024: $46.3M$46.3M20242025: $106.4M$106.4M2025+130%
Fiscal year2023202420252026
Operating expenses$41.8M5$117.4M5
Interest$22.3M5$68.1M5
Income tax$1.2M5
Net income$46.3M5$106.4M5
Earnings per share$4.305$3.085
Earnings per share (diluted)$4.305$3.085
Shares (weighted, basic)10.7M shares534.5M shares5
Shares (weighted, diluted)10.7M shares534.5M shares5

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Corporate structure

Diameter Credit Co sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Diameter Credit Co

  • ICONIQ Capital, LLC Filed SCHEDULE 13G/A on Diameter Credit Co, latest Feb 17, 2026 (4 filings since Nov 13, 2024)
  • Btg Pactual S.a. Banco Filed SCHEDULE 13G/A on Diameter Credit Co, latest Feb 13, 2026 (5 filings since Aug 8, 2024)
  • APO Corp. Filed SCHEDULE 13D/A on Diameter Credit Co, latest Sep 19, 2025 (4 filings since Mar 18, 2024)
  • Diameter Credit Co New York, New York, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Diameter Credit Co reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$122.1M5 Dec 31, 2025$104.4M5 Dec 31, 2024+16.9%

Properties, in its own words

We do not own any real estate or other physical properties materially important to our operation. Our corporate headquarters are located at 50 Hudson Yards, 66th Floor, New York, NY 10001 and are provided by the Administrator in accordance with the terms of our Administration Agreement. We believe that our office facilities are suitable and adequate for our business.

Item 2 of the 10-K filed Mar 12, 2026.4

Leadership

Who has led Diameter Credit Co, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Benjamin David Pasternack2024–now
  2. Joseph Alexander Carvalho2024–now

Chief financial officer

  1. Vishal Sheth2024–2026
  2. Matthew Gerard Gilmartin2026–now
2025
Board members and other officers (8)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Co-Chief Executive Officer and Co-PresidentBen Pasternak named Dec 5, 2023 to Dec 20, 202421
  • DirectorAmanda R. Wurtz named Dec 20, 202421

Timeline

  1. Oct 5, 20268-K Other events22
  2. Jul 31, 20268-K Executive or director change23
  3. Jul 6, 20268-K Other events24
  4. May 1, 20268-K Entered a material agreement25
  5. Apr 30, 20268-K Entered a material agreement; New debt or obligation26
  6. Apr 6, 20268-K Other events27
  7. Mar 27, 20268-K Entered a material agreement; New debt or obligation28
  8. Mar 26, 20268-K Entered a material agreement29
  9. Mar 6, 20268-K Unregistered sale of shares30
  10. Jan 6, 20268-K Other events31
  11. Dec 18, 20258-K Entered a material agreement32
  12. Nov 20, 20258-K Unregistered sale of shares33
  13. Feb 13, 2024New chief executive Joseph Alexander Carvalho becomes CEO10
  14. Feb 13, 2024New chief executive Benjamin David Pasternack becomes CEO9
  15. Feb 24, 2022Founded Diameter Credit Co is founded2

Filings

158 filings to the SEC since October 2021: 3 annual reports, 8 quarterly reports, 38 major events, 78 insider forms, 13 large holders, 3 private raises, 15 other. The latest 20:

  1. Oct 5, 20268-K EDGAR
  2. Sep 24, 20263 EDGAR
  3. Aug 10, 202610-Q EDGAR
  4. Aug 4, 20263 EDGAR
  5. Jul 31, 20268-K EDGAR
  6. Jul 22, 2026APP ORDR EDGAR
  7. Jul 6, 20268-K EDGAR
  8. Jun 23, 2026APP NTC EDGAR
  9. May 11, 202610-Q EDGAR
  10. May 1, 20268-K EDGAR
  11. Apr 30, 20268-K EDGAR
  12. Apr 24, 202640-17G EDGAR
  13. Apr 6, 20268-K EDGAR
  14. Mar 27, 20268-K EDGAR
  15. Mar 26, 20268-K EDGAR
  16. Mar 12, 202610-K EDGAR
  17. Mar 6, 20268-K EDGAR
  18. Mar 4, 20264 EDGAR
  19. Mar 4, 20264 EDGAR
  20. Mar 4, 20264 EDGAR

The 158 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

65 open-market trades by officers, directors and large owners since October 2021: 65 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Mar 2, 2026Lewinsohn JonathanDirectorBuy36,208$27.96$1.0MForm 4
Mar 2, 2026Pasternack Benjamin DavidCo-Chief Executive OfficerBuy1,788$27.96$50.0KForm 4
Mar 2, 2026Carvalho Joseph AlexanderCo-Chief Executive OfficerBuy1,788$27.96$50.0KForm 4
Mar 2, 2026Sheth VishalChief Financial OfficerBuy268$27.96$7.5KForm 4
Mar 2, 2026APO Corp.10% ownerBuy625,816$27.96$17.5MForm 4
Nov 14, 2025Carvalho Joseph AlexanderCo-Chief Executive OfficerBuy2,895$27.63$80.0KForm 4
Nov 14, 2025Lewinsohn JonathanDirectorBuy58,628$27.63$1.6MForm 4
Nov 14, 2025Pasternack Benjamin DavidCo-Chief Executive OfficerBuy2,895$27.63$80.0KForm 4
Nov 14, 2025Sheth VishalChief Financial OfficerBuy434$27.63$12.0KForm 4
Nov 14, 2025AP DLF Offshore Investor, LP10% ownerBuy1,013,331$27.63$28.0MForm 4
Oct 20, 2025Lewinsohn JonathanDirectorBuy51,749$27.39$1.4MForm 4
Oct 20, 2025Sheth VishalChief Financial OfficerBuy383$27.39$10.5KForm 4
Oct 20, 2025Carvalho Joseph AlexanderCo-Chief Executive OfficerBuy2,556$27.39$70.0KForm 4
Oct 20, 2025Pasternack Benjamin DavidCo-Chief Executive OfficerBuy2,556$27.39$70.0KForm 4
Oct 20, 2025AP DLF Offshore Investor, LP10% ownerBuy894,433$27.39$24.5MForm 4
Sep 17, 2025Sheth VishalChief Financial OfficerBuy379$27.72$10.5KForm 4
Sep 17, 2025Pasternack Benjamin DavidCo-Chief Executive OfficerBuy2,526$27.72$70.0KForm 4
Sep 17, 2025Carvalho Joseph AlexanderCo-Chief Executive OfficerBuy2,526$27.72$70.0KForm 4
Sep 17, 2025Lewinsohn JonathanDirectorBuy51,144$27.72$1.4MForm 4
Sep 17, 2025AP DLF Offshore Investor, LP10% ownerBuy883,966$27.72$24.5MForm 4

All 65 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

  • ICONIQ Capital, LLCSCHEDULE 13G/A, 4 filings Nov 13, 2024 to Feb 17, 202634
  • Btg Pactual S.a. BancoSCHEDULE 13G/A, 5 filings Aug 8, 2024 to Feb 13, 202635
  • APO Corp.SCHEDULE 13D/A, 4 filings Mar 18, 2024 to Sep 19, 202536

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Dec 21, 2023Raised $1.6 billion in a private offering of equity Form D: 63 investors so far Form D
  2. Nov 21, 2023Raised $1.5 million in a private offering of equity Form D: 500 investors so far Form D

SEC filer profile

How Diameter Credit Co is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARDiameter Credit Co1
  • CIK0001916099
  • Employer ID (EIN)88-13897974
  • Filer statusNon-accelerated filer an emerging growth company; not a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Business address50 Hudson Yards, Suite 6600A, New York, NY1
  • Phone(212) 655-14191
  • Shares outstanding54,778,146 as of Aug 7, 20267
  • Public float$0 as of Jun 30, 20255
  • AuditorErnst & Young LLP, New York, New York PCAOB ID 42; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceApr 1, 20221
  • Filings165 in all: 4 (65), 8-K (38), 3 (13), 10-Q (8), SCHEDULE 13G/A (6), 40-APP/A (4), 40-17G (3), 40-APP (3)1
    All 26 form types

    10-K (2), APP NTC (2), APP ORDR (2), CORRESP (2), D (2), SC 13D/A (2), SC 13G (2), 10-12G (1), 10-12G/A (1), 10-K/A (1), APP WDG (1), D/A (1), N-54A (1), N-6F (1), SC 13D (1), SC 13G/A (1), SCHEDULE 13D/A (1), UPLOAD (1)

  • Latest filingsAnnual report (10-K) Mar 12, 2026
    Quarterly report (10-Q) Aug 10, 2026
    Latest 8-K (8-K) Oct 5, 2026

Risk factors and legal proceedings

The risks Diameter Credit Co names in Item 1A of its 10-K filed Mar 12, 2026: 74 risks under these headings, as written.4

  • Risks Related to Our Business and Structure
  • Risks Related to Economic Conditions
  • Risks Related to Our Portfolio Company Investments
  • Risks Related to Our Securities
  • Risks Related to the Adviser and its Affiliates; Conflict of Interest
  • General Risk Factors
  • Our Board may amend our Declaration of Trust without prior shareholder approval.
  • We are subject to significant regulations governing our operation as a BDC, which affect our ability to, and the way in which we, raise additional capital.
  • We borrow money, which magnifies the potential for gain or loss and increases the risk of investing in us.
  • We are subject to risks associated with our Credit Facilities.
  • Our indebtedness could adversely affect our business, financial condition or results of operations.
  • Legislation allows us to incur additional leverage.
The other 68 risks
  • We may default under our Credit Facilities.
  • Any inability to renew, extend or replace any of our Credit Facilities could adversely impact our liquidity and ability to find new investments or maintain distributions to our stockholders.
  • In addition to regulatory limitations on our ability to raise capital, each of our Credit Facilities contain various covenants, which, if not complied with, could accelerate our repayment obligations under such facilities, thereby materially and adversely affecting our liquidity, financial condition, results of operations and ability to pay distributions.
  • We are subject to risks associated with any Credit Facility that utilizes a funding subsidiary and we could be prevented from receiving cash on our equity interests from a funding subsidiary.
  • Our ability to sell investments held by any subsidiary that enters into a credit facility would be limited.
  • We operate in a highly competitive market for investment opportunities.
  • If we are unable to source investments, access financing or manage future growth effectively, we may be unable to achieve our investment objective.
  • We may be impacted by fraud and other misconduct by employees of the Adviser and service providers.
  • Even in the event the value of an investor's investment declines, the Management Fee and, in certain circumstances, the Incentive Fee will still be payable to the Adviser.
  • We are an “emerging growth company” under the JOBS Act, and we cannot be certain if the reduced disclosure requirements applicable to emerging growth companies will make our securities less attractive to investors.
  • Our status as an “emerging growth company” under the JOBS Act may make it more difficult to raise capital as and when we need it.
  • We may expend significant financial and other resources to comply with the requirements of being a public reporting entity.
  • Any failure to maintain our status as a BDC would reduce our operating flexibility.
  • We may experience fluctuations in our quarterly results.
  • Our business model depends upon the development and maintenance of strong referral relationships with other asset managers and investment banking firms.
  • Certain investors are limited in their ability to make significant investments in us.
  • We are a non-diversified investment company within the meaning of the 1940 Act, and therefore we are not limited with respect to the proportion of our assets that may be invested in securities of a single issuer.
  • We may receive PIK interest payments on certain debt investments.
  • The Company may be restricted from initiating transactions as a result of the receipt of material non-public information.
  • We may have no or limited insurance against certain catastrophic losses.
  • Cybersecurity risks and cyber incidents may adversely affect our business or those of our portfolio companies by causing a disruption to our operations, a compromise or corruption of confidential information and/or damage to business relationships, or those of our portfolio companies, all of which could negatively impact our business, results of operations or financial condition.
  • We and our portfolio companies are subject to regulations related to privacy, data protection and information securities, and any failure to comply with these requirements could result in fines, sanctions or other penalties, which could have a material adverse effect on our business and our reputation.
  • We are subject to risks associated with artificial intelligence, including the application of various forms of artificial intelligence such as machine learning technology.
  • Our Board may change our investment objective, operating policies and strategies without prior notice or shareholder approval, and we may temporarily deviate from our regular investment strategy (other than our 80% policy, a change to which would require 60 days’ notice to shareholders).
  • Changes in tax laws may adversely affect our business.
  • Compliance with the SEC’s Regulation Best Interest may negatively impact our ability to raise capital, which would harm our ability to achieve our investment objectives.
  • If the Adviser or certain of its affiliates are deemed a “Bad Actor”, it could negatively impact our ability to raise capital.
  • Compliance with anti-money laundering requirements could require the Adviser to provide to governmental authorities information about our Shareholders and could require that a Shareholder’s funds be frozen or that the Shareholder withdraw from the Company.
  • Our Declaration of Trust includes exclusive forum and jury trial waiver provisions that could limit a shareholder’s ability to bring a claim, make it more expensive or inconvenient for a shareholder to bring a claim, or, if such provisions are deemed inapplicable or unenforceable by a court, cause the Company to incur additional costs associated with such action.
  • No shareholder approval is required for certain mergers.
  • Inflation and global supply chain issues may adversely affect our business.
  • We are currently operating in a period of disruption, volatility and uncertainty in the capital markets and in the economy generally.
  • The current state of the economy and financial markets increases the likelihood of adverse effects on our financial position and results of operations.
  • Uncertainty about financial stability could have a significant adverse effect on our business, results of operations and financial condition.
  • Uncertainty about administration initiatives of the U.S. president administration could negatively impact our business,financial condition and results of operations.
  • Economic recessions or downturns could impair our portfolio companies and harm our operating results.
  • We have not established any limit on the amount of funds we may use from available sources, such as borrowings, if any, or proceeds from any offering of securities, to fund dividends (which may reduce the amount of capital we ultimately invest in assets).
  • Our investments are very risky and highly speculative, which could cause you to lose all or part of your investment.
  • Second-Lien and Mezzanine Debt.
  • Investing in middle-market and upper middle market companies involves a number of significant risks, any one of which could have a material adverse effect on our operating results.
  • A covenant breach by a portfolio company may harm our operating results.
  • An investment strategy focused primarily on privately-held companies presents certain challenges, including, but not limited to, the lack of available information about these companies.
  • Limitations of investment due diligence expose us to investment risk.
  • Price declines and illiquidity in the corporate debt markets may adversely affect the fair value of our portfolio investments, reducing our net asset value through increased net unrealized depreciation.
  • The value of most of our portfolio securities will not have a readily available market price and we value these securities at fair value as determined in good faith by our Board, which valuation is inherently subjective, may not reflect what we may actually realize for the sale of the investment and could result in a conflict of interest with the Adviser.
  • The lack of liquidity in our investments may adversely affect our business.
  • Our portfolio may be focused on a limited number of portfolio companies or industries, which will subject us to a risk of significant loss if any of these companies defaults on its obligations under any of its debt instruments or if there is a downturn in a particular industry.
  • We may securitize certain of our investments, which may subject us to certain structured financing risks.
  • Because we generally do not hold controlling interests in our portfolio companies, we may not be in a position to exercise control over those portfolio companies or prevent decisions by management of those portfolio companies that could decrease the value of our investments.
  • We are exposed to risks associated with changes in interest rates.
  • We may not be able to realize expected returns on our invested capital.
  • By originating loans to companies that are experiencing significant financial or business difficulties, we may be exposed to distressed lending risks.
  • Our portfolio companies in some cases may incur debt or issue equity securities that rank equally with, or senior to, our investments in those companies and such portfolio companies may not generate sufficient cash flow to service their debt obligations to us.
  • We may be exposed to special risks associated with bankruptcy cases.
  • Our failure to make follow-on investments in our portfolio companies could impair the value of our investments.
  • Our ability to enter into transactions with our affiliates is restricted.
  • Any acquisitions or strategic investments that we pursue are subject to risks and uncertainties.
  • We cannot guarantee that we will be able to obtain various required licenses in U.S. states or in any other jurisdiction where they may be required in the future.
  • Our investments in foreign companies may involve significant risks in addition to the risks inherent in U.S. investments.
  • We expose ourselves to risks when we engage in hedging transactions.
  • The market structure applicable to derivatives imposed by the Dodd-Frank Act may affect our ability to use over-the-counter (“OTC”) derivatives for hedging purposes.
  • If we cease to be eligible for an exemption from regulation as a commodity pool operator, our compliance expenses could increase substantially.
  • Our portfolio investments may present special tax issues.
  • Certain U.S. shareholders may be treated as having received a dividend from us in the amount of such U.S. shareholders’ allocable share of the Management and Incentive Fees paid to our investment adviser and certain of our other expenses, and these fees and expenses will be treated as miscellaneous itemized deductions of such U.S. shareholders.
  • There are certain risks associated with holding debt obligations that have original issue discount or payment-in-kind interest.
  • We have not yet identified all of the portfolio company investments we will acquire.
  • There is no public market for shares of our Series A Preferred Shares, and we do not expect there to be a market for such shares.
  • There is a risk that investors in our Common Shares may not receive dividends or that our dividends may not grow over time.

Legal proceedings

We are not currently subject to any material legal proceedings, nor, to our knowledge, are any material legal proceeding threatened against us. From time to time, we may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of our rights under contracts with our portfolio companies. Our business is also subject to extensive regulation, which may result in regulatory proceedings against us.

The opening of Item 3, Legal Proceedings.4

Sources

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