KBRA has assigned preliminary ratings to six classes of notes issued by Clarus Capital Funding 2026-1 LLC (Clarus 2026-1), an equipment ABS transaction.

Clarus 2026-1 represents the second equipment ABS transaction sponsored by Clarus Capital LLC (Clarus). Founded in 2021, Clarus is a large-ticket independent equipment finance company headquartered in Boston, Massachusetts. The Company is owned by BharCap Partners, a private investment firm with over $2 billion in investments since 2020. As of Dec. 31, 2025, the net asset balance of Clarus’ portfolio totaled approximately $537 million across 229 contracts and over 45 obligors. The Clarus 2026-1 transaction is secured by a portfolio of equipment lease and loan contracts.