First Eagle Alternative Capital (FCRD) operates principally in the U.S. middle market. As of the IIQ 2022, FCRD had $367mn in portfolio assets at fair market value in 77 companies. According to its 10-Q, the BDC has $53mn in underperforming assets, equal to 14% of the portfolio. This includes 2 non performing companies, with an FMV of $9mn.