Maryland | 33-1089684 | |||||||
(State or other jurisdiction of | (I.R.S. Employer | |||||||
incorporation or organization) | Identification Number) |
Title of each class | Trading symbol | Name of each exchange on which registered | ||||||
Common stock, $0.001 par value | ARCC | NASDAQ Global Select Market | ||||||
Large accelerated filer x | Accelerated filer o | |||||||
Non-accelerated filer o | Smaller reporting company o | |||||||
Emerging growth company o |
Class | Outstanding at October 26, | |||||||
Common stock, $0.001 par value |
Part I. | Financial Information | ||||||||
Item 4. | |||||||||
As of | As of | |||||||||||||||||
September 30, 2017 | December 31, 2016 | September 30, 2021 | December 31, 2020 | |||||||||||||||
(unaudited) | (unaudited) | |||||||||||||||||
ASSETS | ASSETS | |||||||||||||||||
Investments at fair value | Investments at fair value | |||||||||||||||||
Non-controlled/non-affiliate company investments | $ | 9,808 | $ | 5,940 | Non-controlled/non-affiliate company investments | $ | 15,345 | $ | 12,780 | |||||||||
Non-controlled affiliate company investments | 208 | 185 | Non-controlled affiliate company investments | 333 | 296 | |||||||||||||
Controlled affiliate company investments | 1,440 | 2,695 | Controlled affiliate company investments | 1,999 | 2,439 | |||||||||||||
Total investments at fair value (amortized cost of $11,740 and $9,034, respectively) | 11,456 | 8,820 | ||||||||||||||||
Total investments at fair value (amortized cost of $17,627 and $15,914, respectively) | Total investments at fair value (amortized cost of $17,627 and $15,914, respectively) | 17,677 | 15,515 | |||||||||||||||
Cash and cash equivalents | 341 | 223 | Cash and cash equivalents | 1,193 | 254 | |||||||||||||
Restricted cash | Restricted cash | 20 | 72 | |||||||||||||||
Interest receivable | 105 | 112 | Interest receivable | 111 | 112 | |||||||||||||
Receivable from participants | Receivable from participants | — | 38 | |||||||||||||||
Receivable for open trades | 34 | 29 | Receivable for open trades | 24 | 73 | |||||||||||||
Other assets | 105 | 61 | Other assets | 98 | 94 | |||||||||||||
Operating lease right-of-use asset | Operating lease right-of-use asset | 31 | 38 | |||||||||||||||
Total assets | $ | 12,041 | $ | 9,245 | Total assets | $ | 19,154 | $ | 16,196 | |||||||||
LIABILITIES | LIABILITIES | |||||||||||||||||
Debt | $ | 4,640 | $ | 3,874 | Debt | $ | 9,895 | $ | 8,491 | |||||||||
Base management fees payable | 44 | 34 | Base management fees payable | 65 | 56 | |||||||||||||
Income based fees payable | 25 | 32 | Income based fees payable | 53 | 140 | |||||||||||||
Capital gains incentive fees payable | 61 | 38 | Capital gains incentive fees payable | 133 | — | |||||||||||||
Interest and facility fees payable | Interest and facility fees payable | 66 | 83 | |||||||||||||||
Payable to participants | Payable to participants | 20 | 72 | |||||||||||||||
Payable for open trades | Payable for open trades | 153 | 6 | |||||||||||||||
Accounts payable and other liabilities | 199 | 58 | Accounts payable and other liabilities | 87 | 90 | |||||||||||||
Interest and facility fees payable | 44 | 44 | ||||||||||||||||
Secured borrowings | Secured borrowings | 97 | 23 | |||||||||||||||
Operating lease liabilities | Operating lease liabilities | 48 | 59 | |||||||||||||||
Total liabilities | 5,013 | 4,080 | Total liabilities | 10,617 | 9,020 | |||||||||||||
Commitments and contingencies (Note 7) | Commitments and contingencies (Note 7) | |||||||||||||||||
STOCKHOLDERS’ EQUITY | STOCKHOLDERS’ EQUITY | |||||||||||||||||
Common stock, par value $0.001 per share, 500 common shares authorized; 426 and 314 common shares issued and outstanding, respectively | — | — | ||||||||||||||||
Common stock, par value $0.001 per share, 600 common shares authorized; 461 and 423 common shares issued and outstanding, respectively | Common stock, par value $0.001 per share, 600 common shares authorized; 461 and 423 common shares issued and outstanding, respectively | — | — | |||||||||||||||
Capital in excess of par value | 7,206 | 5,292 | Capital in excess of par value | 8,373 | 7,656 | |||||||||||||
Accumulated undistributed (overdistributed) net investment income | (78 | ) | 37 | |||||||||||||||
Accumulated net realized gains on investments, foreign currency transactions, extinguishment of debt and other assets | 200 | 57 | ||||||||||||||||
Net unrealized losses on investments, foreign currency and other transactions | (300 | ) | (221 | ) | ||||||||||||||
Accumulated undistributed (overdistributed) earnings | Accumulated undistributed (overdistributed) earnings | 164 | (480) | |||||||||||||||
Total stockholders’ equity | 7,028 | 5,165 | Total stockholders’ equity | 8,537 | 7,176 | |||||||||||||
Total liabilities and stockholders’ equity | $ | 12,041 | $ | 9,245 | Total liabilities and stockholders’ equity | $ | 19,154 | $ | 16,196 | |||||||||
NET ASSETS PER SHARE | $ | 16.49 | $ | 16.45 | NET ASSETS PER SHARE | $ | 18.52 | $ | 16.97 |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||
2017 | 2016 | 2017 | 2016 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||
INVESTMENT INCOME: | INVESTMENT INCOME: | |||||||||||||||||||||||||||||||||||||
From non-controlled/non-affiliate company investments: | From non-controlled/non-affiliate company investments: | |||||||||||||||||||||||||||||||||||||
Interest income from investments | $ | 200 | $ | 134 | $ | 539 | $ | 412 | ||||||||||||||||||||||||||||||
Interest income from investments (excluding payment-in-kind (“PIK”) interest income) | Interest income from investments (excluding payment-in-kind (“PIK”) interest income) | $ | 230 | $ | 194 | $ | 656 | $ | 639 | |||||||||||||||||||||||||||||
PIK interest income from investments | PIK interest income from investments | 42 | 33 | 95 | 85 | |||||||||||||||||||||||||||||||||
Capital structuring service fees | 28 | 34 | 64 | 60 | Capital structuring service fees | 53 | 12 | 179 | 55 | |||||||||||||||||||||||||||||
Dividend income | 8 | 6 | 20 | 23 | Dividend income | 31 | 18 | 86 | 54 | |||||||||||||||||||||||||||||
Other income | 4 | 3 | 13 | 10 | Other income | 11 | 22 | 28 | 38 | |||||||||||||||||||||||||||||
Total investment income from non-controlled/non-affiliate company investments | 240 | 177 | 636 | 505 | Total investment income from non-controlled/non-affiliate company investments | 367 | 279 | 1,044 | 871 | |||||||||||||||||||||||||||||
From non-controlled affiliate company investments: | From non-controlled affiliate company investments: | |||||||||||||||||||||||||||||||||||||
Interest income from investments | 4 | 4 | 12 | 13 | ||||||||||||||||||||||||||||||||||
Interest income from investments (excluding PIK interest income) | Interest income from investments (excluding PIK interest income) | 2 | 2 | 5 | 7 | |||||||||||||||||||||||||||||||||
PIK interest income from investments | PIK interest income from investments | 1 | — | 3 | 2 | |||||||||||||||||||||||||||||||||
Capital structuring service fees | Capital structuring service fees | — | — | — | 1 | |||||||||||||||||||||||||||||||||
Other income | Other income | — | — | 1 | — | |||||||||||||||||||||||||||||||||
Total investment income from non-controlled affiliate company investments | 4 | 4 | 12 | 13 | Total investment income from non-controlled affiliate company investments | 3 | 2 | 9 | 10 | |||||||||||||||||||||||||||||
From controlled affiliate company investments: | From controlled affiliate company investments: | |||||||||||||||||||||||||||||||||||||
Interest income from investments | 34 | 62 | 149 | 187 | ||||||||||||||||||||||||||||||||||
Interest income from investments (excluding PIK interest income) | Interest income from investments (excluding PIK interest income) | 39 | 38 | 129 | 110 | |||||||||||||||||||||||||||||||||
PIK interest income from investments | PIK interest income from investments | 3 | 13 | 23 | 22 | |||||||||||||||||||||||||||||||||
Capital structuring service fees | 4 | 1 | 9 | 2 | Capital structuring service fees | 6 | — | 11 | — | |||||||||||||||||||||||||||||
Dividend income | 10 | 10 | 38 | 30 | Dividend income | 23 | 19 | 72 | 55 | |||||||||||||||||||||||||||||
Management and other fees | 1 | 4 | 6 | 14 | ||||||||||||||||||||||||||||||||||
Other income | 1 | — | 3 | 1 | Other income | 1 | 1 | 3 | 3 | |||||||||||||||||||||||||||||
Total investment income from controlled affiliate company investments | 50 | 77 | 205 | 234 | Total investment income from controlled affiliate company investments | 72 | 71 | 238 | 190 | |||||||||||||||||||||||||||||
Total investment income | 294 | 258 | 853 | 752 | Total investment income | 442 | 352 | 1,291 | 1,071 | |||||||||||||||||||||||||||||
EXPENSES: | EXPENSES: | |||||||||||||||||||||||||||||||||||||
Interest and credit facility fees | 56 | 43 | 166 | 139 | Interest and credit facility fees | 94 | 77 | 267 | 235 | |||||||||||||||||||||||||||||
Base management fees | 44 | 34 | 127 | 103 | Base management fees | 65 | 53 | 184 | 161 | |||||||||||||||||||||||||||||
Income based fees | 35 | 33 | 97 | 91 | Income based fees | 53 | 42 | 158 | 127 | |||||||||||||||||||||||||||||
Capital gain incentive fees | (3 | ) | (6 | ) | 23 | 8 | ||||||||||||||||||||||||||||||||
Capital gains incentive fees | Capital gains incentive fees | 30 | — | 133 | (58) | |||||||||||||||||||||||||||||||||
Administrative fees | 3 | 3 | 9 | 10 | Administrative fees | 4 | 3 | 11 | 10 | |||||||||||||||||||||||||||||
Professional fees and other costs related to the American Capital Acquisition | 4 | 3 | 42 | 11 | ||||||||||||||||||||||||||||||||||
Other general and administrative | 7 | 6 | 24 | 21 | Other general and administrative | 7 | 7 | 18 | 19 | |||||||||||||||||||||||||||||
Total expenses | 146 | 116 | 488 | 383 | Total expenses | 253 | 182 | 771 | 494 | |||||||||||||||||||||||||||||
Waiver of income based fees | (10 | ) | — | (20 | ) | — | ||||||||||||||||||||||||||||||||
Total expenses, net of waiver of income based fees | 136 | 116 | 468 | 383 | ||||||||||||||||||||||||||||||||||
NET INVESTMENT INCOME BEFORE INCOME TAXES | 158 | 142 | 385 | 369 | NET INVESTMENT INCOME BEFORE INCOME TAXES | 189 | 170 | 520 | 577 | |||||||||||||||||||||||||||||
Income tax expense, including excise tax | 5 | 4 | 14 | 13 | Income tax expense, including excise tax | 5 | 4 | 21 | 12 | |||||||||||||||||||||||||||||
NET INVESTMENT INCOME | 153 | 138 | 371 | 356 | NET INVESTMENT INCOME | 184 | 166 | 499 | 565 | |||||||||||||||||||||||||||||
REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS, FOREIGN CURRENCY AND OTHER TRANSACTIONS: | REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS, FOREIGN CURRENCY AND OTHER TRANSACTIONS: | |||||||||||||||||||||||||||||||||||||
Net realized gains (losses): | Net realized gains (losses): | |||||||||||||||||||||||||||||||||||||
Non-controlled/non-affiliate company investments | (3 | ) | 4 | 70 | 55 | Non-controlled/non-affiliate company investments | 82 | (19) | 139 | 15 | ||||||||||||||||||||||||||||
Non-controlled affiliate company investments | — | 12 | — | 13 | Non-controlled affiliate company investments | 1 | — | 58 | 13 | |||||||||||||||||||||||||||||
Controlled affiliate company investments | 45 | 5 | 97 | 11 | Controlled affiliate company investments | 40 | (4) | 61 | (6) | |||||||||||||||||||||||||||||
Foreign currency and other transactions | (7 | ) | (1 | ) | (20 | ) | (1 | ) | Foreign currency and other transactions | 26 | (2) | 9 | (5) | |||||||||||||||||||||||||
Net realized gains | 35 | 20 | 147 | 78 | ||||||||||||||||||||||||||||||||||
Net realized gains (losses) | Net realized gains (losses) | 149 | (25) | 267 | 17 | |||||||||||||||||||||||||||||||||
Net unrealized gains (losses): | Net unrealized gains (losses): | |||||||||||||||||||||||||||||||||||||
Non-controlled/non-affiliate company investments | (39 | ) | (57 | ) | (138 | ) | (91 | ) | Non-controlled/non-affiliate company investments | 35 | 160 | 388 | (571) | |||||||||||||||||||||||||
Non-controlled affiliate company investments | (9 | ) | (10 | ) | (10 | ) | 12 | Non-controlled affiliate company investments | 6 | 4 | 13 | (31) | ||||||||||||||||||||||||||
Controlled affiliate company investments | 1 | 23 | 75 | 48 | Controlled affiliate company investments | (29) | 142 | 56 | 126 | |||||||||||||||||||||||||||||
Foreign currency and other transactions | (2 | ) | (4 | ) | (6 | ) | (4 | ) | Foreign currency and other transactions | (11) | (6) | 5 | — | |||||||||||||||||||||||||
Net unrealized losses | (49 | ) | (48 | ) | (79 | ) | (35 | ) | ||||||||||||||||||||||||||||||
Net realized and unrealized gains (losses) from investments, foreign currency and other transactions | (14 | ) | (28 | ) | 68 | 43 | ||||||||||||||||||||||||||||||||
REALIZED LOSSES ON EXTINGUISHMENT OF DEBT | — | — | (4 | ) | — | |||||||||||||||||||||||||||||||||
NET INCREASE IN STOCKHOLDERS’ EQUITY RESULTING FROM OPERATIONS | $ | 139 | $ | 110 | $ | 435 | $ | 399 | ||||||||||||||||||||||||||||||
BASIC AND DILUTED EARNINGS PER COMMON SHARE (see Note 10) | $ | 0.33 | $ | 0.35 | $ | 1.02 | $ | 1.27 | ||||||||||||||||||||||||||||||
Net unrealized gains (losses) | Net unrealized gains (losses) | 1 | 300 | 462 | (476) | |||||||||||||||||||||||||||||||||
Net realized and unrealized gains (losses) on investments, foreign currency and other transactions | Net realized and unrealized gains (losses) on investments, foreign currency and other transactions | 150 | 275 | 729 | (459) | |||||||||||||||||||||||||||||||||
REALIZED LOSS ON EXTINGUISHMENT OF DEBT | REALIZED LOSS ON EXTINGUISHMENT OF DEBT | — | — | (43) | — | |||||||||||||||||||||||||||||||||
NET INCREASE IN STOCKHOLDERS' EQUITY RESULTING FROM OPERATIONS | NET INCREASE IN STOCKHOLDERS' EQUITY RESULTING FROM OPERATIONS | $ | 334 | $ | 441 | $ | 1,185 | $ | 106 | |||||||||||||||||||||||||||||
BASIC AND DILUTED NET INCOME PER COMMON SHARE (see Note 10) | BASIC AND DILUTED NET INCOME PER COMMON SHARE (see Note 10) | $ | 0.73 | $ | 1.04 | $ | 2.68 | $ | 0.25 | |||||||||||||||||||||||||||||
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING (see Note 10) | 426 | 314 | 425 | 314 | WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING (see Note 10) | 453 | 423 | 441 | 425 |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
Software & Services | |||||||||||||||||||||||||||||||||||||||||||||||
2U, Inc. | Provider of course design and learning management system to educational institutions | First lien senior secured loan ($45.6 par due 12/2024) | 6.50% (Libor + 5.75%/Q) | 6/28/2021 | $ | 44.9 | $ | 45.2 | (2)(6)(13) | ||||||||||||||||||||||||||||||||||||||
AffiniPay Midco, LLC and AffiniPay Intermediate Holdings, LLC (17) | Payment processing solution provider | First lien senior secured loan ($64.2 par due 3/2026) | 6.25% (Libor + 5.00%/Q) | 2/28/2020 | 64.2 | 64.2 | (13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.7 par due 3/2026) | 6.25% (Libor + 5.00%/Q) | 6/7/2021 | 0.7 | 0.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Senior subordinated loan ($26.6 par due 2/2028) | 12.75% PIK | 2/28/2020 | 26.6 | 26.6 | (2) | ||||||||||||||||||||||||||||||||||||||||||
91.5 | 91.5 | ||||||||||||||||||||||||||||||||||||||||||||||
Anaqua Parent Holdings, Inc. & Astorg VII Co-Invest Anaqua (17) | Provider of intellectual property management lifecycle software | First lien senior secured loan ($4.8 par due 4/2026) | 6.25% (Euribor + 6.25%/Q) | 4/10/2019 | 4.6 | 4.8 | |||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($16.0 par due 4/2026) | 7.00% (Libor + 6.00%/Q) | 6/24/2021 | 16.0 | 16.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Limited partnership units (4,400,000 units) | 6/13/2019 | 4.2 | 7.5 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||||
24.8 | 28.3 | ||||||||||||||||||||||||||||||||||||||||||||||
APG Intermediate Holdings Corporation and APG Holdings, LLC (4)(17) | Aircraft performance software provider | First lien senior secured loan ($13.5 par due 1/2025) | 6.75% (Libor + 5.25%/Q) | 1/3/2020 | 13.5 | 13.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Class A membership units (9,750,000 units) | 1/3/2020 | 9.8 | 12.0 | (2) | |||||||||||||||||||||||||||||||||||||||||||
23.3 | 25.5 | ||||||||||||||||||||||||||||||||||||||||||||||
Appriss Health, LLC and Appriss Health Intermediate Holdings, Inc. (17) | Software platform for identification, prevention and management of substance use disorder | First lien senior secured loan ($25.7 par due 5/2027) | 8.25% (Libor + 7.25%/Q) | 5/6/2021 | 25.7 | 25.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Series A preferred shares (32,236 shares) | 11.00% PIK | 5/6/2021 | 33.7 | 33.7 | (2) | ||||||||||||||||||||||||||||||||||||||||||
59.4 | 59.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Apptio, Inc. (17) | Provider of cloud-based technology business management solutions | First lien senior secured revolving loan ($1.7 par due 1/2025) | 8.25% (Libor + 7.25%/Q) | 1/10/2019 | 1.7 | 1.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($62.2 par due 1/2025) | 8.25% (Libor + 7.25%/Q) | 1/10/2019 | 62.2 | 62.2 | (13) | ||||||||||||||||||||||||||||||||||||||||||
63.9 | 63.9 | ||||||||||||||||||||||||||||||||||||||||||||||
Avetta, LLC (17) | Supply chain risk management SaaS platform for global enterprise clients | First lien senior secured loan ($21.1 par due 4/2024) | 6.25% (Libor + 5.25%/Q) | 7/15/2021 | 21.1 | 21.1 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
AxiomSL Group, Inc. and Calypso Group, Inc. (17) | Provider of real-time wire data analytics solutions for application and infrastructure monitoring | First lien senior secured loan ($21.4 par due 12/2027) | 7.00% (Libor + 6.00%/Q) | 7/21/2021 | 21.0 | 21.2 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Banyan Software Holdings, LLC (17) | Vertical software businesses holding company | First lien senior secured loan ($20.3 par due 10/2026) | 8.50% (Libor + 7.50%/Q) | 10/30/2020 | 20.3 | 20.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Borrower R365 Holdings LLC (17) | Provider of restaurant ERP systems | First lien senior secured revolving loan ($0.7 par due 6/2027) | 7.50% (Libor + 6.50%/Q) | 6/10/2021 | 0.7 | 0.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($15.4 par due 6/2027) | 7.50% (Libor + 3.50% Cash, 3.00% PIK/S) | 6/10/2021 | 15.1 | 15.2 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
15.8 | 15.9 | ||||||||||||||||||||||||||||||||||||||||||||||
CallMiner, Inc. | Provider of cloud-based conversational analytics solutions | Warrant to purchase up to 2,350,636 shares of Series 1 preferred stock (expires 7/2024) | 7/23/2014 | — | — | (2) | |||||||||||||||||||||||||||||||||||||||||
Cardinal Parent, Inc. and Packers Software Intermediate Holdings, Inc. (17) | Provider of software and technology-enabled content and analytical solutions to insurance brokers | First lien senior secured revolving loan ($1.1 par due 11/2025) | 6.75% (Base Rate + 3.50%/Q) | 11/12/2020 | 1.1 | 1.1 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($48.1 par due 11/2028) | 8.50% (Libor + 7.75%/Q) | 11/12/2020 | 48.1 | 48.1 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Series A-2 preferred shares (8,963 shares) | 11.25% PIK (Libor + 11.00%/Q) | 12/23/2020 | 9.8 | 9.9 | (2) | ||||||||||||||||||||||||||||||||||||||||||
Series A preferred shares (24,898 shares) | 11.21% PIK (Libor + 11.00%/Q) | 11/12/2020 | 27.5 | 27.4 | (2) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
Healthcare Services | ||||||||||||||||||||
Absolute Dental Management LLC and ADM Equity, LLC | Dental services provider | First lien senior secured loan ($18.8 par due 1/2022) | 9.63% (Libor + 8.30%/Q) | 1/5/2016 | $ | 18.8 | $ | 18.2 | (2)(16) | |||||||||||
First lien senior secured loan ($5.0 par due 1/2022) | 9.63% (Libor + 8.30%/Q) | 1/5/2016 | 5.0 | 4.8 | (4)(16) | |||||||||||||||
Class A preferred units (4,000,000 units) | 1/5/2016 | 4.0 | 1.4 | (2) | ||||||||||||||||
Class A common units (4,000,000 units) | 1/5/2016 | — | — | (2) | ||||||||||||||||
27.8 | 24.4 | |||||||||||||||||||
Acessa Health Inc. (fka HALT Medical, Inc.) | Medical supply provider | Common stock (569,823 shares) | 6/22/2017 | 0.1 | 0.1 | |||||||||||||||
ADCS Billings Intermediate Holdings, LLC (20) | Dermatology practice | First lien senior secured revolving loan ($4.8 par due 5/2022) | 9.00% (Base Rate + 4.75%/Q) | 5/18/2016 | 4.8 | 4.7 | (2)(16)(19) | |||||||||||||
ADG, LLC and RC IV GEDC Investor LLC (20) | Dental services provider | First lien senior secured revolving loan ($8.0 par due 9/2022) | 6.00% (Libor + 4.75%/Q) | 9/28/2016 | 8.0 | 7.8 | (2)(16) | |||||||||||||
First lien senior secured revolving loan ($3.0 par due 9/2022) | 8.00% (Base Rate + 3.75%/Q) | 9/28/2016 | 3.0 | 2.9 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($87.5 par due 3/2024) | 10.25% (Libor + 9.00%/Q) | 9/28/2016 | 87.5 | 84.0 | (2)(16) | |||||||||||||||
Membership units (3,000,000 units) | 9/28/2016 | 3.0 | 2.3 | (2) | ||||||||||||||||
101.5 | 97.0 | |||||||||||||||||||
Alcami Holdings, LLC (8)(20) | Outsourced drug development services provider | First lien senior secured revolving loan ($23.6 par due 10/2019) | 6.74% (Libor + 5.50%/Q) | 1/3/2017 | 23.6 | 23.6 | (2)(16) | |||||||||||||
First lien senior secured loan ($10.0 par due 10/2020) | 6.74% (Libor + 5.50%/Q) | 1/3/2017 | 10.0 | 10.0 | (2)(16) | |||||||||||||||
First lien senior secured loan ($96.2 par due 10/2020) | 6.74% (Libor + 5.50%/Q) | 1/3/2017 | 96.2 | 96.2 | (3)(16) | |||||||||||||||
Senior subordinated loan ($34.8 par due 10/2020) | 14.75% | 1/3/2017 | 34.8 | 34.8 | (2) | |||||||||||||||
Senior subordinated loan ($35.2 par due 10/2020) | 15.25% | 1/3/2017 | 20.7 | 35.2 | (2) | |||||||||||||||
Senior subordinated loan ($25.0 par due 10/2020) | 12.25% | 1/3/2017 | 25.0 | 25.0 | (2) | |||||||||||||||
Senior subordinated loan ($30.0 par due 10/2020) | 11.75% | 1/3/2017 | 30.0 | 30.0 | (2) | |||||||||||||||
Senior subordinated loan ($30.0 par due 10/2020) | 12% | 1/3/2017 | 30.0 | 30.0 | (2) | |||||||||||||||
Series R preferred membership units (30,000 units) | 1/3/2017 | — | 23.9 | |||||||||||||||||
Series R-2 preferred membership units (54,936 units) | 1/3/2017 | — | 43.8 | |||||||||||||||||
270.3 | 352.5 | |||||||||||||||||||
Alegeus Technologies Holdings Corp. | Benefits administration and transaction processing provider | Preferred stock (2,997 shares) | 12/13/2013 | 3.1 | 2.7 | |||||||||||||||
Common stock (3 shares) | 12/13/2013 | — | — | |||||||||||||||||
3.1 | 2.7 | |||||||||||||||||||
Argon Medical Devices, Inc. | Manufacturer and marketer of single-use specialty medical devices | Second lien senior secured loan ($9.0 par due 6/2022) | 10.74% (Libor + 9.50%/Q) | 12/23/2015 | 8.8 | 9.0 | (2)(16) | |||||||||||||
AwarePoint Corporation | Healthcare technology platform developer | First lien senior secured loan ($8.0 par due 12/2019) | 13.82% (Libor + 12.50%/M) | 9/5/2014 | 7.9 | 7.3 | (2)(14)(16) | |||||||||||||
Warrant to purchase up to 3,213,367 shares of Series 1 preferred stock (expires 9/2024) | 11/14/2014 | — | 0.4 | (2) | ||||||||||||||||
7.9 | 7.7 | |||||||||||||||||||
CCS Intermediate Holdings, LLC and CCS Group Holdings, LLC (20) | Correctional facility healthcare operator | First lien senior secured revolving loan ($4.5 par due 7/2019) | 5.33% (Libor + 4.00%/Q) | 7/23/2014 | 4.5 | 4.0 | (2)(16)(19) | |||||||||||||
First lien senior secured loan ($6.5 par due 7/2021) | 5.33% (Libor + 4.00%/Q) | 7/23/2014 | 6.5 | 5.7 | (2)(16) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
86.5 | 86.5 | ||||||||||||||||||||||||||||||||||||||||||||||
Consilio Midco Limited and Consilio Investment Holdings, L.P. (17) | Provider of sales software for the interior design industry | First lien senior secured loan ($60.8 par due 5/2028) | 6.75% (Libor + 5.75%/Q) | 5/28/2021 | 60.8 | 60.1 | (2)(6)(13) | ||||||||||||||||||||||||||||||||||||||||
Common units (4,799,000 units) | 5/28/2021 | 4.8 | 6.0 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||||
65.6 | 66.1 | ||||||||||||||||||||||||||||||||||||||||||||||
CoreLogic, Inc. and T-VIII Celestial Co-Invest LP (17) | Provider of information, insight, analytics, software and other outsourced services primarily to the mortgage, real estate and insurance sectors | Second lien senior secured loan ($155.7 par due 6/2029) | 7.00% (Libor + 6.50%/M) | 6/3/2021 | 155.7 | 154.1 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Limited partnership units (59,665,989 units) | 4/29/2021 | 59.7 | 75.0 | (2) | |||||||||||||||||||||||||||||||||||||||||||
215.4 | 229.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Cority Software Inc., IQS, Inc. and Cority Parent, Inc. (17) | Provider of environmental, health and safety software to track compliance data | First lien senior secured loan ($6.4 par due 7/2026) | 6.00% (Libor + 5.00%/Q) | 7/2/2019 | 6.4 | 6.4 | (6)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($4.4 par due 7/2026) | 6.00% (Libor + 5.00%/Q) | 10/15/2019 | 4.4 | 4.4 | (6)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.1 par due 7/2026) | 8.00% (Libor + 7.00%/Q) | 9/3/2020 | 1.1 | 1.1 | (2)(6)(13) | ||||||||||||||||||||||||||||||||||||||||||
Preferred equity (198 shares) | 9.00% PIK | 7/2/2019 | 0.2 | 0.2 | (2)(6) | ||||||||||||||||||||||||||||||||||||||||||
Common equity (190,143 shares) | 7/2/2019 | — | 0.3 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||||
12.1 | 12.4 | ||||||||||||||||||||||||||||||||||||||||||||||
Datix Bidco Limited | Global healthcare software company that provides software solutions for patient safety and risk management | First lien senior secured loan ($0.1 par due 4/2025) | 4.21% (Libor + 4.00%/Q) | 10/7/2019 | — | 0.1 | (2)(6) | ||||||||||||||||||||||||||||||||||||||||
DCert Preferred Holdings, Inc. and Destiny Digital Holdings, L.P. | Provider of internet security tools and solutions | Series A preferred shares (129,822 shares) | 10.50% PIK | 5/25/2021 | 131.2 | 129.8 | (2) | ||||||||||||||||||||||||||||||||||||||||
Series A units (817,194 units) | 5/27/2021 | 13.3 | 12.2 | (2) | |||||||||||||||||||||||||||||||||||||||||||
144.5 | 142.0 | ||||||||||||||||||||||||||||||||||||||||||||||
Denali Holdco LLC and Denali Topco LLC (17) | Provider of cybersecurity audit and assessment services | First lien senior secured loan ($37.3 par due 9/2027) | 7.00% (Libor + 6.00%/Q) | 9/15/2021 | 37.3 | 36.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Class A units (2,549,000) | 9/15/2021 | 2.5 | 2.5 | (2) | |||||||||||||||||||||||||||||||||||||||||||
39.8 | 39.4 | ||||||||||||||||||||||||||||||||||||||||||||||
Diligent Corporation and Diligent Preferred Issuer, Inc. (17) | Provider of secure SaaS solutions for board and leadership team documents | First lien senior secured revolving loan | 8/4/2020 | — | — | (15) | |||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($33.1 par due 8/2025) | 7.25% (Libor + 6.25%/Q) | 8/4/2020 | 32.5 | 33.1 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($9.0 par due 8/2025) | 6.75% (Libor + 5.75%/Q) | 3/4/2021 | 8.9 | 9.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($11.5 par due 8/2025) | 6.75% (Libor + 5.75%/Q) | 4/6/2021 | 11.4 | 11.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($2.0 par due 8/2025) | 7.25% (Libor + 6.25%/Q) | 7/30/2021 | 2.0 | 2.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Preferred stock (13,140 shares) | 10.50% PIK | 4/6/2021 | 13.5 | 13.8 | (2) | ||||||||||||||||||||||||||||||||||||||||||
68.3 | 69.4 | ||||||||||||||||||||||||||||||||||||||||||||||
Drilling Info Holdings, Inc. and Titan DI Preferred Holdings, Inc. | SaaS based business analytics company focused on oil and gas industry | Second lien senior secured loan ($25.0 par due 7/2026) | 8.33% (Libor + 8.25%/M) | 2/11/2020 | 25.0 | 25.0 | |||||||||||||||||||||||||||||||||||||||||
Preferred stock (29.53 shares) | 13.50% PIK | 2/11/2020 | 35.8 | 36.7 | (2) | ||||||||||||||||||||||||||||||||||||||||||
60.8 | 61.7 | ||||||||||||||||||||||||||||||||||||||||||||||
DS Admiral Bidco, LLC (17) | Tax return software provider for government institutions | First lien senior secured loan ($25.8 par due 3/2028) | 6.75% (Libor + 5.75%/Q) | 3/16/2021 | 25.1 | 25.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Elemica Parent, Inc. & EZ Elemica Holdings, Inc. (17) | SaaS based supply chain management software provider focused on chemical markets | First lien senior secured revolving loan ($2.3 par due 9/2025) | 7.00% (Libor + 6.00%/M) | 9/18/2019 | 2.3 | 2.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($50.7 par due 9/2025) | 7.00% (Libor + 6.00%/Q) | 9/18/2019 | 50.7 | 50.7 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($11.5 par due 9/2025) | 7.00% (Libor + 6.00%/Q) | 9/18/2019 | 11.5 | 11.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($20.5 par due 9/2025) | 7.00% (Libor + 6.00%/Q) | 12/15/2020 | 20.5 | 20.5 | (2)(13) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
Second lien senior secured loan ($135.0 par due 7/2022) | 9.70% (Libor + 8.38%/Q) | 7/23/2014 | 134.2 | 110.7 | (2)(16) | |||||||||||||||
Class A units (1,000,000 units) | 8/19/2010 | — | 0.7 | (2) | ||||||||||||||||
145.2 | 121.1 | |||||||||||||||||||
Correctional Medical Group Companies, Inc. | Correctional facility healthcare operator | First lien senior secured loan ($48.8 par due 9/2021) | 8.79% (Libor + 7.65%/Q) | 9/29/2015 | 48.8 | 48.8 | (3)(16) | |||||||||||||
First lien senior secured loan ($3.1 par due 9/2021) | 8.79% (Libor + 7.65%/Q) | 9/29/2015 | 3.1 | 3.1 | (2)(16) | |||||||||||||||
51.9 | 51.9 | |||||||||||||||||||
CSHM LLC (8) | Dental services provider | Class A membership units (1,979 units) | 1/3/2017 | — | — | |||||||||||||||
D4C Dental Brands HoldCo, Inc. and Bambino Group Holdings, LLC (20) | Dental services provider | First lien senior secured revolving loan ($1.2 par due 12/2022) | 7.56% (Libor + 6.25%/Q) | 12/21/2016 | 1.2 | 1.2 | (2)(16) | |||||||||||||
First lien senior secured revolving loan ($1.3 par due 12/2022) | 9.50% (Base Rate + 5.25%/Q) | 12/21/2016 | 1.3 | 1.3 | (2)(16) | |||||||||||||||
Class A preferred units (1,000,000 units) | 12/21/2016 | 1.0 | 1.0 | (2) | ||||||||||||||||
3.5 | 3.5 | |||||||||||||||||||
DCA Investment Holding, LLC (20) | Multi-branded dental practice management | First lien senior secured revolving loan ($2.8 par due 7/2021) | 8.50% (Base Rate + 4.25%/Q) | 7/2/2015 | 2.8 | 2.7 | (2)(16)(19) | |||||||||||||
First lien senior secured loan ($18.8 par due 7/2021) | 6.58% (Libor + 5.25%/Q) | 7/2/2015 | 18.7 | 18.2 | (4)(16) | |||||||||||||||
21.5 | 20.9 | |||||||||||||||||||
DNAnexus, Inc. | Bioinformatics company | Warrant to purchase up to 909,092 units of Series C preferred stock (expires 3/2024) | 3/21/2014 | — | 0.1 | (2) | ||||||||||||||
Drayer Physical Therapy Institute LLC | Outpatient physical therapy provider | First lien senior secured loan ($12.3 par due 7/2018) | 8.99% (Libor + 7.75%/Q) | 7/26/2017 | 12.3 | 12.3 | (2)(16) | |||||||||||||
First lien senior secured loan ($114.6 par due 7/2018) | 8.99% (Libor + 7.75%/Q) | 7/26/2017 | 114.6 | 114.6 | (2)(16) | |||||||||||||||
126.9 | 126.9 | |||||||||||||||||||
Emerus Holdings, Inc. (20) | Freestanding 24-hour emergency care micro-hospitals operator | First lien senior secured revolving loan ($0.3 par due 9/2020) | 7.75% (Base Rate + 3.50%/Q) | 3/14/2017 | 0.3 | 0.3 | (2)(16) | |||||||||||||
First lien senior secured loan ($2.3 par due 9/2021) | 5.74% (Libor + 4.50%/Q) | 3/14/2017 | 2.0 | 2.0 | (2)(16) | |||||||||||||||
2.3 | 2.3 | |||||||||||||||||||
GHX Ultimate Parent Corporation, Commerce Parent, Inc. and Commerce Topco, LLC | On-demand supply chain automation solutions provider to the healthcare industry | Second lien senior secured loan ($96.5 par due 6/2025) | 9.33% (Libor + 8.00%/Q) | 6/30/2017 | 95.8 | 95.5 | (2)(16) | |||||||||||||
Series A perpetual preferred stock (110,338 shares) | 12.08% PIK (Libor + 10.75%/Q) | 6/30/2017 | 113.7 | 113.7 | (2)(16) | |||||||||||||||
Class A units (13,925,993 units) | 6/30/2017 | 13.9 | 14.7 | (2) | ||||||||||||||||
223.4 | 223.9 | |||||||||||||||||||
Greenphire, Inc. and RMCF III CIV XXIX, L.P (20) | Software provider for clinical trial management | First lien senior secured revolving loan ($1.0 par due 12/2018) | 8.00% (Base Rate + 3.75%/Q) | 12/19/2014 | 1.0 | 1.0 | (2)(16) | |||||||||||||
First lien senior secured loan ($1.5 par due 9/2020) | 9.30% (Libor + 8.00%/M) | 12/19/2014 | 1.5 | 1.5 | (2)(16) | |||||||||||||||
First lien senior secured loan ($2.7 par due 12/2018) | 9.30% (Libor + 8.00%/M) | 12/19/2014 | 2.7 | 2.7 | (2)(16) | |||||||||||||||
Limited partnership interest (99.90% interest) | 12/19/2014 | 1.0 | 2.3 | (2) | ||||||||||||||||
6.2 | 7.5 | |||||||||||||||||||
Heartland Dental, LLC | Detanl services provider | Second lien senior secured loan ($27.8 par due 7/2024) | 9.82% (Libor + 8.50%/Q) | 7/31/2017 | 27.4 | 27.8 | (2)(16) | |||||||||||||
Hygiena Borrower LLC (20) | Adenosine triphosphate testing technology provider | Second lien senior secured loan ($10.7 par due 8/2023) | 10.33% (Libor + 9.00%/Q) | 2/27/2017 | 10.7 | 10.7 | (2)(16) | |||||||||||||
Second lien senior secured loan ($10.0 par due 8/2023) | 10.33% (Libor + 9.00%/Q) | 8/26/2016 | 10.0 | 10.0 | (2)(16) | |||||||||||||||
20.7 | 20.7 |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
Preferred equity (4,599 shares) | 9/18/2019 | 4.6 | 5.0 | ||||||||||||||||||||||||||||||||||||||||||||
89.6 | 90.0 | ||||||||||||||||||||||||||||||||||||||||||||||
EP Purchaser, LLC., Entertainment Partners Canada ULC and TPG VIII EP Co-Invest II, L.P. (17) | Provider of entertainment workforce and production management solutions | First lien senior secured loan ($29.0 par due 5/2026) | 5.38% (Libor + 5.25%/Q) | 5/10/2019 | 29.0 | 29.0 | (6) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($24.4 par due 5/2026) | 5.38% (Libor + 5.25%/Q) | 5/10/2019 | 24.4 | 24.4 | (2)(6)(9) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($10.6 par due 5/2026) | 5.38% (Libor + 5.25%/Q) | 5/10/2019 | 10.6 | 10.6 | (2)(6) | ||||||||||||||||||||||||||||||||||||||||||
Partnership units (5,034,483 units) | 5/10/2019 | 4.7 | 8.6 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||||
68.7 | 72.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Episerver Inc. and Goldcup 17308 AB (17) | Provider of web content management and digital commerce solutions | First lien senior secured loan ($6.2 par due 4/2026) | 5.75% (Euribor + 5.75%/Q) | 3/22/2019 | 6.0 | 6.2 | (2)(6) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($27.0 par due 4/2026) | 6.50% (Libor + 5.50%/Q) | 10/9/2018 | 27.0 | 27.0 | (2)(6)(13) | ||||||||||||||||||||||||||||||||||||||||||
33.0 | 33.2 | ||||||||||||||||||||||||||||||||||||||||||||||
eResearch Technology, Inc. and Astorg VII Co-Invest ERT (17) | Provider of mission-critical, software-enabled clinical research solutions | Second lien senior secured loan ($19.9 par due 2/2028) | 8.50% (Libor + 8.00%/M) | 2/4/2020 | 19.5 | 19.9 | (13) | ||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($2.5 par due 2/2028) | 8.50% (Libor + 8.00%/M) | 2/4/2020 | 2.5 | 2.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($30.6 par due 2/2028) | 8.50% (Libor + 8.00%/M) | 4/27/2021 | 29.5 | 30.6 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Limited partnership interest (3,988,000 shares) | 1/31/2020 | 4.5 | 5.8 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||||
56.0 | 58.8 | ||||||||||||||||||||||||||||||||||||||||||||||
ExtraHop Networks, Inc. (17) | Provider of real-time wire data analytics solutions for application and infrastructure monitoring | First lien senior secured loan ($0.4 par due 7/2027) | 8.50% (Libor + 7.50%/Q) | 7/20/2021 | 0.4 | 0.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($16.6 par due 7/2027) | 8.50% (Libor + 7.50%/Q) | 7/22/2021 | 16.6 | 16.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
17.0 | 16.8 | ||||||||||||||||||||||||||||||||||||||||||||||
First Insight, Inc. | Software company providing merchandising and pricing solutions to companies worldwide | Warrant to purchase up to 122,827 units of Series C preferred stock (expires 3/2024) | 3/20/2014 | — | — | (2) | |||||||||||||||||||||||||||||||||||||||||
FM:Systems Group, LLC (17) | Provider of facilities and space management software solutions | First lien senior secured revolving loan ($1.5 par due 12/2024) | 7.50% (Libor + 6.50%/Q) | 2/8/2018 | 1.5 | 1.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($3.2 par due 12/2024) | 7.50% (Libor + 6.50%/M) | 12/2/2019 | 3.2 | 3.2 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.4 par due 12/2024) | 7.50% (Libor + 6.50%/Q) | 6/15/2021 | 1.4 | 1.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
6.1 | 6.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Forescout Technologies, Inc. (17) | Network access control solutions provider | First lien senior secured loan ($18.3 par due 8/2026) | 10.50% PIK (Libor + 9.50%/Q) | 8/17/2020 | 17.9 | 17.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Frontline Technologies Group Holding LLC, Frontline Technologies Blocker Buyer, Inc., Frontline Technologies Holdings, LLC and Frontline Technologies Parent, LLC | Provider of human capital management and SaaS-based software solutions to employees and administrators of K-12 school organizations | First lien senior secured loan ($17.3 par due 9/2023) | 6.75% (Libor + 5.75%/Q) | 12/30/2020 | 17.3 | 17.3 | (13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($3.1 par due 9/2023) | 6.75% (Libor + 5.75%/Q) | 6/15/2021 | 3.1 | 3.1 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Class A preferred units (4,574 units) | 9.00% PIK | 9/18/2017 | 6.0 | 6.6 | |||||||||||||||||||||||||||||||||||||||||||
Class B common units (499,050 units) | 9/18/2017 | — | 4.3 | ||||||||||||||||||||||||||||||||||||||||||||
26.4 | 31.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Genesis Acquisition Co. and Genesis Holding Co. (17) | Child care management software and services provider | First lien senior secured revolving loan ($1.5 par due 7/2024) | 4.13% (Libor + 4.00%/Q) | 7/31/2018 | 1.5 | 1.5 | (2) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.2 par due 7/2024) | 4.13% (Libor + 4.00%/Q) | 7/31/2018 | 0.2 | 0.2 | (2) | ||||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($32.4 par due 7/2025) | 7.65% (Libor + 7.50%/Q) | 7/31/2018 | 32.4 | 31.1 | (2) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
Intermedix Corporation | Revenue cycle management provider to the emergency healthcare industry | First lien senior secured loan ($107.5 par due 12/2019) | 5.93% (Libor + 4.75%/Q) | 7/26/2017 | 116.8 | 115.6 | (2)(16) | |||||||||||||
First lien senior secured loan ($121.7 par due 12/2019) | 6.07% (Libor + 4.75%/Q) | 7/26/2017 | 132.2 | 130.9 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($112.0 par due 6/2020) | 9.58% (Libor + 8.25%/Q) | 12/27/2012 | 112.0 | 108.6 | (2)(16) | |||||||||||||||
361.0 | 355.1 | |||||||||||||||||||
Island Medical Management Holdings, LLC | Provider of physician management services | First lien senior secured loan ($3.5 par due 9/2022) | 7.00% (Libor + 5.50%/Q) | 5/15/2017 | 3.5 | 3.4 | (2)(16) | |||||||||||||
3.5 | 3.4 | |||||||||||||||||||
JDC Healthcare Management, LLC (20) | Dental services provider | First lien senior secured revolving loan ($1.5 par due 4/2022) | 7.49% (Libor + 6.25%/Q) | 4/10/2017 | 1.5 | 1.5 | (2)(16) | |||||||||||||
First lien senior secured loan ($10.0 par due 4/2023) | 7.49% (Libor + 6.25%/Q) | 4/10/2017 | 10.0 | 9.8 | (2)(16) | |||||||||||||||
First lien senior secured loan ($20.0 par due 4/2023) | 7.49% (Libor + 6.25%/Q) | 4/10/2017 | 20.0 | 19.6 | (4)(16) | |||||||||||||||
31.5 | 30.9 | |||||||||||||||||||
KBHS Acquisition, LLC (d/b/a Alita Care, LLC) (20) | Provider of behavioral health services | First lien senior secured revolving loan ($0.9 par due 3/2022) | 6.23% (Libor + 5.00%/Q) | 3/17/2017 | 0.9 | 0.9 | (2)(16) | |||||||||||||
First lien senior secured revolving loan ($0.4 par due 3/2022) | 6.24% (Libor + 5.00%/Q) | 3/17/2017 | 0.4 | 0.4 | (2)(16) | |||||||||||||||
1.3 | 1.3 | |||||||||||||||||||
Key Surgical LLC (20) | Provider of sterile processing, operating room and instrument care supplies for hospitals | First lien senior secured revolving loan ($0.9 par due 6/2022) | 6.07% (Libor + 4.75%/Q) | 6/1/2017 | 0.9 | 0.9 | (2)(16) | |||||||||||||
First lien senior secured loan ($17.8 par due 6/2023) | 5.75% (EURIBOR + 4.75%/Q) | 6/1/2017 | 16.9 | 17.5 | (2)(16) | |||||||||||||||
First lien senior secured loan ($4.4 par due 6/2023) | 6.07% (Libor + 4.75%/Q) | 6/1/2017 | 4.3 | 4.3 | (4)(16) | |||||||||||||||
22.1 | 22.7 | |||||||||||||||||||
MB2 Dental Solutions, LLC (20) | Dental services provider | First lien senior secured loan ($4.8 par due 9/2023) | 6.08% (Libor + 3.75%/Q) | 9/29/2017 | 4.8 | 4.7 | (2)(16) | |||||||||||||
MCH Holdings, Inc. and MC Acquisition Holdings I, LLC | Healthcare professional provider | First lien senior secured loan ($74.3 par due 1/2020) | 6.73% (Libor + 5.50%/Q) | 7/26/2017 | 74.3 | 74.3 | (2)(16) | |||||||||||||
First lien senior secured loan ($90.0 par due 1/2020) | 6.74% (Libor + 5.50%/Q) | 7/26/2017 | 90.0 | 90.0 | (2)(16) | |||||||||||||||
Class A units (1,438,643 shares) | 1/17/2014 | 1.5 | 1.1 | (2) | ||||||||||||||||
165.8 | 165.4 | |||||||||||||||||||
MW Dental Holding Corp. (20) | Dental services provider | First lien senior secured revolving loan ($9.7 par due 4/2018) | 9.00% (Libor + 7.50%/Q) | 4/12/2011 | 9.7 | 9.7 | (2)(16) | |||||||||||||
First lien senior secured loan ($44.5 par due 4/2018) | 9.00% (Libor + 7.50%/Q) | 4/12/2011 | 44.5 | 44.5 | (2)(16) | |||||||||||||||
First lien senior secured loan ($46.9 par due 4/2018) | 9.00% (Libor + 7.50%/Q) | 4/12/2011 | 46.9 | 46.9 | (3)(16) | |||||||||||||||
First lien senior secured loan ($19.4 par due 4/2018) | 9.00% (Libor + 7.50%/Q) | 4/12/2011 | 19.4 | 19.4 | (4)(16) | |||||||||||||||
120.5 | 120.5 | |||||||||||||||||||
My Health Direct, Inc. | Healthcare scheduling exchange software solution provider | Warrant to purchase up to 4,548 shares of Series D preferred stock (expires 9/2024) | 9/18/2014 | — | — | (2) | ||||||||||||||
New Trident Holdcorp, Inc. | Outsourced mobile diagnostic healthcare service provider | Second lien senior secured loan ($80.0 par due 7/2020) | 10.83% (Libor + 9.50%/Q) | 8/6/2013 | 79.3 | 62.4 | (2)(16) | |||||||||||||
NMSC Holdings, Inc. and ASP NAPA Holdings, LLC | Anesthesia management services provider | Second lien senior secured loan ($72.8 par due 10/2023) | 11.33% (Libor + 10.00%/Q) | 4/19/2016 | 72.8 | 69.2 | (2)(16) | |||||||||||||
Class A units (25,277 units) | 4/19/2016 | 2.5 | 1.7 | (2) | ||||||||||||||||
75.3 | 70.9 | |||||||||||||||||||
Nodality, Inc. | Biotechnology company | First lien senior secured loan ($2.3 par due 8/2016) | 11/12/2015 | 2.1 | — | (2)(15) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($7.5 par due 7/2025) | 7.62% (Libor + 7.50%/Q) | 6/9/2021 | 7.5 | 7.2 | (2) | ||||||||||||||||||||||||||||||||||||||||||
Class A common stock (8 shares) | 7/31/2018 | 0.8 | 0.8 | (2) | |||||||||||||||||||||||||||||||||||||||||||
42.4 | 40.8 | ||||||||||||||||||||||||||||||||||||||||||||||
IfByPhone Inc. | Voice-based marketing automation software provider | Warrant to purchase up to 124,300 shares of Series C preferred stock (expires 10/2022) | 10/15/2012 | 0.1 | — | (2) | |||||||||||||||||||||||||||||||||||||||||
Inmar, Inc. | Technology-driven solutions provider for retailers, wholesalers and manufacturers | Second lien senior secured loan ($28.3 par due 5/2025) | 9.00% (Libor + 8.00%/Q) | 4/25/2017 | 28.1 | 28.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
GraphPAD Software, LLC, Insightful Science Intermediate I, LLC and Insightful Science Holdings, LLC | Provider of data analysis, statistics, and visualization software solutions for scientific research applications | First lien senior secured revolving loan ($0.3 par due 4/2027) | 7.00% (Libor + 6.00%/Q) | 12/21/2017 | 0.3 | 0.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.5 par due 4/2027) | 7.00% (Libor + 6.00%/Q) | 12/21/2017 | 0.5 | 0.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($16.2 par due 4/2027) | 6.50% (Libor + 5.50%/Q) | 4/28/2021 | 16.2 | 16.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Senior subordinated loan ($37.5 par due 4/2032) | 10.50% | 4/28/2021 | 37.5 | 37.2 | (2) | ||||||||||||||||||||||||||||||||||||||||||
Preferred units (1,828,645 units) | 14.00% PIK | 4/28/2021 | 50.5 | 50.5 | |||||||||||||||||||||||||||||||||||||||||||
105.0 | 104.5 | ||||||||||||||||||||||||||||||||||||||||||||||
Huskies Parent, Inc. (17) | Insurance software provider | First lien senior secured loan ($0.5 par due 7/2026) | 4.08% (Libor + 4.00%/M) | 7/18/2019 | 0.5 | 0.5 | (2)(20) | ||||||||||||||||||||||||||||||||||||||||
IV Rollover Holdings, LLC | Solar power generation facility developer and operator | Class B units (170,490 units) | 5/31/2017 | — | — | (2) | |||||||||||||||||||||||||||||||||||||||||
Class X units (5,000,000 units) | 5/31/2017 | 2.2 | 2.2 | (2) | |||||||||||||||||||||||||||||||||||||||||||
2.2 | 2.2 | ||||||||||||||||||||||||||||||||||||||||||||||
Majesco and Magic Topco, L.P. (17) | Insurance software provider | First lien senior secured loan ($60.7 par due 9/2027) | 8.25% (Libor + 7.25%/Q) | 9/21/2020 | 60.7 | 60.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Class A units (2,539 units) | 9.00% PIK | 9/21/2020 | 2.8 | 2.8 | (2) | ||||||||||||||||||||||||||||||||||||||||||
Class B units (570,625 units) | 9/21/2020 | — | 0.9 | (2) | |||||||||||||||||||||||||||||||||||||||||||
63.5 | 64.4 | ||||||||||||||||||||||||||||||||||||||||||||||
Ministry Brands, LLC and MB Parent HoldCo, L.P. (dba Community Brands) (17) | Software and payment services provider to faith-based institutions | First lien senior secured loan ($9.2 par due 12/2022) | 5.00% (Libor + 4.00%/M) | 4/6/2017 | 9.2 | 9.2 | (13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($4.8 par due 12/2022) | 5.00% (Libor + 4.00%/M) | 8/22/2017 | 4.8 | 4.8 | (13) | ||||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($90.0 par due 6/2023) | 10.25% (Libor + 9.25%/M) | 12/2/2016 | 89.8 | 90.0 | (13) | ||||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($16.6 par due 6/2023) | 10.25% (Libor + 9.25%/M) | 12/2/2016 | 16.6 | 16.6 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($13.9 par due 6/2023) | 10.25% (Libor + 9.25%/M) | 4/6/2017 | 13.9 | 13.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($17.9 par due 6/2023) | 10.25% (Libor + 9.25%/M) | 8/22/2017 | 17.9 | 17.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($48.9 par due 6/2023) | 9.00% (Libor + 8.00%/M) | 4/18/2018 | 48.9 | 48.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Class A units (500,000 units) | 12/2/2016 | 5.0 | 8.3 | (2) | |||||||||||||||||||||||||||||||||||||||||||
206.1 | 209.6 | ||||||||||||||||||||||||||||||||||||||||||||||
MMIT Holdings, LLC (17) | Provider of market intelligence and analysis for the pharmaceutical industry | First lien senior secured loan ($42.9 par due 9/2027) | 7.25% (Libor + 6.25%/Q) | 9/15/2021 | 42.9 | 42.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
MRI Software LLC (17) | Provider of real estate and investment management software | First lien senior secured loan ($50.6 par due 2/2026) | 6.50% (Libor + 5.50%/Q) | 2/10/2020 | 50.6 | 50.6 | (13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($3.9 par due 2/2026) | 6.50% (Libor + 5.50%/Q) | 8/28/2020 | 3.9 | 3.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
54.5 | 54.5 | ||||||||||||||||||||||||||||||||||||||||||||||
OpenMarket Inc. | Provider of cloud-based mobile engagement platform | First lien senior secured loan ($50.8 par due 9/2026) | 7.00% (Libor + 6.25%/Q) | 9/17/2021 | 50.8 | 50.3 | (6)(13) | ||||||||||||||||||||||||||||||||||||||||
Paya, Inc and GTCR-Ultra Holdings LLC (17) | Provider of payment processing and merchant acquiring solutions | Class B units (2,878,372 units) | 8/1/2017 | — | 3.6 | (2) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
First lien senior secured loan ($10.9 par due 8/2016) | 4/25/2014 | 9.7 | — | (2)(15) | ||||||||||||||||
Warrant to purchase up to 3,736,255 shares of common stock (expires 3/2026) | 5/1/2016 | — | — | (2) | ||||||||||||||||
11.8 | — | |||||||||||||||||||
NSM Sub Holdings Corp. (20) | Provider of customized mobility, rehab and adaptive seating systems | First lien senior secured revolving loan ($0.9 par due 10/2022) | 8.25% (Base Rate + 4.00%/Q) | 9/28/2017 | 0.9 | 0.9 | (2)(16) | |||||||||||||
nThrive, Inc. (fka Precyse Acquisition Corp.) | Provider of healthcare information management technology and services | Second lien senior secured loan ($10.0 par due 4/2023) | 10.99% (Libor + 9.75%/Q) | 4/20/2016 | 9.7 | 10.0 | (2)(16) | |||||||||||||
OmniSYS Acquisition Corporation, OmniSYS, LLC, and OSYS Holdings, LLC (20) | Provider of technology-enabled solutions to pharmacies | First lien senior secured loan ($5.9 par due 11/2018) | 8.83% (Libor + 7.50%/Q) | 11/21/2013 | 5.9 | 5.9 | (4)(16) | |||||||||||||
Limited liability company membership interest (1.57%) | 11/21/2013 | 1.0 | 0.6 | (2) | ||||||||||||||||
6.9 | 6.5 | |||||||||||||||||||
Patterson Medical Supply, Inc. | Distributor of rehabilitation supplies and equipment | Second lien senior secured loan ($78.0 par due 8/2023) | 10.00% (Libor + 8.50%/Q) | 9/2/2015 | 76.3 | 74.9 | (2)(16) | |||||||||||||
PerfectServe, Inc. | Communications software platform provider for hospitals and physician practices | First lien senior secured loan ($16.0 par due 4/2021) | 10.30% (Libor + 9.00%/M) | 4/5/2017 | 14.8 | 16.0 | (2)(16) | |||||||||||||
First lien senior secured loan ($2.0 par due 4/2021) | 10.32% (Libor + 9.00%/M) | 4/5/2017 | 2.0 | 2.0 | (2)(16) | |||||||||||||||
First lien senior secured loan ($2.0 par due 4/2021) | 10.32% (Libor + 9.00%/M) | 4/5/2017 | 2.0 | 2.0 | (2)(16) | |||||||||||||||
Warrant to purchase up to 128,480 shares of Series C preferred stock (expires 4/2027) | 4/5/2017 | 1.0 | 0.7 | (2) | ||||||||||||||||
19.8 | 20.7 | |||||||||||||||||||
PhyMED Management LLC | Provider of anesthesia services | Second lien senior secured loan ($47.2 par due 5/2021) | 10.07% (Libor + 8.75%/Q) | 12/18/2015 | 46.7 | 45.3 | (2)(16) | |||||||||||||
Practice Insight, LLC (20) | Revenue cycle management provider to the emergency healthcare industry | First lien senior secured revolving loan ($0.6 par due 8/2022) | 8.25% (Base Rate + 4.00%/Q) | 8/23/2017 | 0.6 | 0.6 | (2)(16) | |||||||||||||
First lien senior secured loan ($12.7 par due 8/2022) | 6.24% (Libor + 5.00%/Q) | 8/23/2017 | 12.7 | 12.7 | (2)(16) | |||||||||||||||
13.3 | 13.3 | |||||||||||||||||||
Respicardia, Inc. | Developer of implantable therapies to improve cardiovascular health | Warrant to purchase up to 99,094 shares of Series C preferred stock (expires 6/2022) | 6/28/2012 | — | — | (2) | ||||||||||||||
Sarnova HC, LLC, Tri-Anim Health Services, Inc., and BEMS Holdings, LLC | Distributor of emergency medical service and respiratory products | Second lien senior secured loan ($54.0 par due 7/2022) | 10.74% (Libor + 9.50%/Q) | 1/29/2016 | 54.0 | 54.0 | (2)(16) | |||||||||||||
SCSG EA Acquisition Company, Inc. (20) | Provider of outsourced clinical services to hospitals and health systems | First lien senior secured loan ($3.3 par due 9/2023) | 5.57% (Libor + 4.25%/Q) | 9/1/2017 | 3.3 | 3.3 | (2)(16) | |||||||||||||
TerSera Therapeutics LLC | Acquirer and developer of specialty therapeutic pharmaceutical products | First lien senior secured loan ($5.3 par due 3/2023) | 6.58% (Libor + 5.25%/Q) | 5/3/2017 | 5.2 | 5.2 | (4)(16) | |||||||||||||
Transaction Data Systems, Inc. | Pharmacy management software provider | Second lien senior secured loan ($35.3 par due 6/2022) | 10.30% (Libor + 9.00%/Q) | 6/15/2015 | 35.3 | 35.3 | (2)(16) | |||||||||||||
U.S. Anesthesia Partners, Inc. | Anesthesiology service provider | Second lien senior secured loan ($64.8 par due 6/2025) | 8.49% (Libor + 7.25%/Q) | 6/16/2017 | 63.8 | 63.8 | (2)(16) | |||||||||||||
Urgent Cares of America Holdings I, LLC and FastMed Holdings I, LLC (20) | Operator of urgent care clinics | Preferred units (7,696,613 units) | 6/11/2015 | 7.7 | 0.5 | |||||||||||||||
Series A common units (2,000,000 units) | 6/11/2015 | 2.0 | — | |||||||||||||||||
Series C common units (5,288,427 units) | 6/11/2015 | — | — |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
PayNearMe, Inc. | Electronic cash payment system provider | Warrant to purchase up to 195,726 shares of Series E preferred stock (expires 3/2023) | 3/11/2016 | 0.2 | — | (2) | |||||||||||||||||||||||||||||||||||||||||
PDI TA Holdings, Inc., Peachtree Parent, Inc. and Insight PDI Holdings, LLC (17) | Provider of enterprise management software for the convenience retail and petroleum wholesale market | First lien senior secured loan ($53.6 par due 10/2024) | 5.50% (Libor + 4.50%/Q) | 3/19/2019 | 53.6 | 53.6 | (13) | ||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($4.8 par due 10/2025) | 9.50% (Libor + 8.50%/Q) | 4/27/2021 | 4.8 | 4.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($70.1 par due 10/2025) | 9.50% (Libor + 8.50%/Q) | 3/19/2019 | 70.1 | 70.1 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($8.3 par due 10/2025) | 9.50% (Libor + 8.50%/Q) | 12/17/2020 | 8.3 | 8.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Series A preferred stock (13,656 shares) | 13.25% PIK | 3/19/2019 | 18.8 | 19.1 | (2) | ||||||||||||||||||||||||||||||||||||||||||
Class A units (2,062,493 units) | 3/19/2019 | 2.1 | 2.8 | (2) | |||||||||||||||||||||||||||||||||||||||||||
157.7 | 158.7 | ||||||||||||||||||||||||||||||||||||||||||||||
Pegasus Global Enterprise Holdings, LLC, Mekone Blocker Acquisition, Inc. and Mekone Parent, LLC (17) | Provider of plant maintenance and scheduling software | First lien senior secured loan ($25.6 par due 5/2025) | 6.75% (Libor + 5.75%/Q) | 5/29/2019 | 25.6 | 25.6 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($5.8 par due 5/2025) | 7.25% (Libor + 6.25%/Q) | 6/24/2020 | 5.8 | 5.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($50.1 par due 5/2025) | 7.25% (Libor + 6.25%/Q) | 10/16/2020 | 50.1 | 50.1 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Class A units (5,000 units) | 5/29/2019 | 5.0 | 12.0 | ||||||||||||||||||||||||||||||||||||||||||||
86.5 | 93.5 | ||||||||||||||||||||||||||||||||||||||||||||||
Pluralsight, Inc. (17) | Online education learning platform | First lien senior secured loan ($136.2 par due 4/2027) | 9.00% (Libor + 8.00%/Q) | 4/6/2021 | 136.2 | 134.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Poplicus Incorporated | Business intelligence and market analytics platform for companies that sell to the public sector | Warrant to purchase up to 2,402,991 shares of Series C preferred stock (expires 6/2025) | 6/25/2015 | 0.1 | — | (2) | |||||||||||||||||||||||||||||||||||||||||
PracticeTek Purchaser, LLC and GSV PracticeTek Holdings, LLC (17) | Software provider for medical practitioners | First lien senior secured loan ($11.5 par due 3/2027) | 7.00% (Libor + 6.00%/M) | 3/31/2021 | 11.5 | 11.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Class A units (11,804,000 units) | 8.00% PIK | 3/31/2021 | 11.8 | 11.8 | (2) | ||||||||||||||||||||||||||||||||||||||||||
23.3 | 23.3 | ||||||||||||||||||||||||||||||||||||||||||||||
ProfitSolv Purchaser, Inc. and PS Co-Invest, L.P. (17) | Provider of practice management software to law firms | First lien senior secured loan ($1.4 par due 3/2027) | 6.25% (Libor + 5.25%/Q) | 3/5/2021 | 1.4 | 1.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Limited partnership units (1,624,000 units) | 3/5/2021 | 1.6 | 1.6 | (2) | |||||||||||||||||||||||||||||||||||||||||||
3.0 | 3.0 | ||||||||||||||||||||||||||||||||||||||||||||||
Project Alpha Intermediate Holding, Inc. and Qlik Parent, Inc. | Provider of data visualization software for data analytics | Class A common stock (7,445 shares) | 8/22/2016 | 7.4 | 17.5 | (2) | |||||||||||||||||||||||||||||||||||||||||
Class B common stock (1,841,609 shares) | 8/22/2016 | 0.1 | 0.2 | (2) | |||||||||||||||||||||||||||||||||||||||||||
7.5 | 17.7 | ||||||||||||||||||||||||||||||||||||||||||||||
Project Essential Bidco, Inc. and Project Essential Super Parent, Inc. (17) | Saas provider of automated crew callout and scheduling software for the utility industry | First lien senior secured loan ($36.6 par due 4/2028) | 6.75% (Libor + 5.75%/Q) | 4/20/2021 | 36.6 | 36.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
PIK preferred shares (26,436 shares) | 10.50% PIK (Libor + 9.50%/Q) | 4/20/2021 | 27.7 | 27.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
64.3 | 64.0 | ||||||||||||||||||||||||||||||||||||||||||||||
Project Potter Buyer, LLC and Project Potter Parent, L.P. (17) | Software solutions provider to the ready-mix concrete industry | First lien senior secured revolving loan | 4/23/2020 | — | — | (15) | |||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($44.2 par due 4/2027) | 9.25% (Libor + 8.25%/M) | 4/23/2020 | 44.2 | 44.2 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($12.9 par due 4/2027) | 9.25% (Libor + 8.25%/M) | 10/30/2020 | 12.9 | 12.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($19.4 par due 4/2027) | 9.25% (Libor + 8.25%/M) | 11/18/2020 | 19.4 | 19.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Class A units (1,599 units) | 9.00% PIK | 4/23/2020 | 1.8 | 1.7 | (2) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
9.7 | 0.5 | |||||||||||||||||||
Vertice Pharma UK Parent Limited (9) | Manufacturer and distributor of generic pharmaceutical products | Preferred shares (40,662 shares) | 12/21/2015 | 0.4 | 0.7 | |||||||||||||||
Young Innovations, Inc. | Dental supplies and equipment manufacturer | Second lien senior secured loan ($31.4 par due 7/2019) | 10.58% (Libor + 9.25%/Q) | 10/18/2016 | 31.4 | 31.4 | (2)(16) | |||||||||||||
Second lien senior secured loan ($55.0 par due 7/2019) | 10.58% (Libor + 9.25%/Q) | 5/30/2014 | 55.0 | 55.0 | (2)(16) | |||||||||||||||
86.4 | 86.4 | |||||||||||||||||||
ZocDoc, Inc. (20) | Provider of medical care search facility | First lien senior secured loan ($5.0 par due 4/2021) | 10.81% (Libor + 9.50%/M) | 4/7/2017 | 5.0 | 5.1 | (2)(14)(16) | |||||||||||||
First lien senior secured loan ($15.0 par due 4/2021) | 10.81% (Libor + 9.50%/M) | 4/7/2017 | 14.9 | 15.2 | (5)(14)(16) | |||||||||||||||
19.9 | 20.3 | |||||||||||||||||||
2,381.8 | 2,383.1 | 33.91 | % | |||||||||||||||||
Business Services | ||||||||||||||||||||
Accruent, LLC, Accruent Holding, LLC and Athena Parent, Inc. (20) | Real estate and facilities management software provider | Second lien senior secured loan ($61.1 par due 7/2024) | 10.06% (Libor + 8.75%/Q) | 7/28/2017 | 61.1 | 61.1 | (2)(16) | |||||||||||||
Senior subordinated loan ($6.8 par due 7/2025) | 11.5% | 7/28/2017 | 6.8 | 6.5 | (2) | |||||||||||||||
Senior subordinated loan ($73.6 par due 7/2025) | 11.5% | 7/28/2017 | 73.6 | 70.7 | (2) | |||||||||||||||
Common stock (3,000 shares) | 5/16/2016 | 3.0 | 2.8 | (2) | ||||||||||||||||
Warrant to purchase up to 11,380 shares of common stock (expires 7/2037) | 7/28/2017 | — | 3.2 | (2) | ||||||||||||||||
144.5 | 144.3 | |||||||||||||||||||
Achilles Acquisition LLC (20) | Benefits broker and outsourced workflow automation platform provider for brokers | First lien senior secured loan ($1.0 par due 6/2023) | 7.30% (Libor + 6.00%/Q) | 6/6/2017 | 1.0 | 1.0 | (2)(16) | |||||||||||||
First lien senior secured loan ($0.8 par due 6/2023) | 7.31% (Libor + 6.00%/Q) | 6/6/2017 | 0.8 | 0.8 | (2)(16) | |||||||||||||||
First lien senior secured loan ($10.2 par due 6/2023) | 7.33% (Libor + 6.00%/Q) | 6/6/2017 | 10.2 | 10.1 | (2)(16) | |||||||||||||||
12.0 | 11.9 | |||||||||||||||||||
Acrisure, LLC, Acrisure Investors FO, LLC and Acrisure Investors SO, LLC (20) | Retail insurance advisor and brokerage | Second lien senior secured loan ($10.0 par due 11/2024) | 10.52% (Libor + 9.25%/Q) | 5/10/2017 | 10.0 | 10.0 | (2)(16) | |||||||||||||
Second lien senior secured loan ($3.1 par due 11/2024) | 10.58% (Libor + 9.25%/Q) | 5/10/2017 | 3.1 | 3.1 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($15.0 par due 11/2024) | 10.52% (Libor + 9.25%/Q) | 5/10/2017 | 15.0 | 15.0 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($88.6 par due 11/2024) | 10.55% (Libor + 9.25%/Q) | 11/22/2016 | 88.6 | 88.6 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($9.7 par due 11/2024) | 10.52% (Libor + 9.25%/Q) | 11/22/2016 | 9.7 | 9.7 | (2)(16) | |||||||||||||||
Membership interests (10,793,504 units) | 11/18/2016 | 10.8 | 10.8 | (2) | ||||||||||||||||
Membership interests (2,698,376 units) | 11/18/2016 | 2.7 | 2.7 | (2) | ||||||||||||||||
139.9 | 139.9 | |||||||||||||||||||
BeyondTrust Software, Inc. (20) | Management software solutions provider | First lien senior secured loan ($29.4 par due 9/2019) | 8.33% (Libor + 7.00%/Q) | 1/3/2017 | 29.0 | 29.4 | (3)(16) | |||||||||||||
BluePay Processing, Inc. | Payment processing solutions provider | Second lien senior secured loan ($32.8 par due 8/2022) | 9.81% (Libor + 8.50%/Q) | 1/3/2017 | 32.8 | 32.8 | (2)(16) | |||||||||||||
Brandtone Holdings Limited (9) | Mobile communications and marketing services provider | First lien senior secured loan ($4.7 par due 11/2018) | 5/11/2015 | 4.5 | — | (2)(15) | ||||||||||||||
First lien senior secured loan ($3.1 par due 2/2019) | 5/11/2015 | 2.9 | — | (2)(15) | ||||||||||||||||
Warrant to purchase up to 184,003 units of convertible preferred shares (expires 8/2026) | 5/11/2015 | — | — | (2) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
Class B units (588,636 units) | 4/23/2020 | — | — | (2) | |||||||||||||||||||||||||||||||||||||||||||
78.3 | 78.2 | ||||||||||||||||||||||||||||||||||||||||||||||
Proofpoint, Inc. (17) | Cybersecurity solutions provider | First lien senior secured loan ($1.0 par due 8/2028) | 3.75% (Libor + 3.25%/Q) | 6/9/2021 | 1.0 | 1.0 | (13)(20) | ||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($34.6 par due 8/2029) | 6.75% (Libor + 6.25%/Q) | 6/9/2021 | 34.4 | 34.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
35.4 | 35.9 | ||||||||||||||||||||||||||||||||||||||||||||||
QF Holdings, Inc. (17) | SaaS based electronic health record software provider | First lien senior secured loan ($29.3 par due 9/2024) | 7.50% (Libor + 6.50%/Q) | 9/19/2019 | 29.3 | 29.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Raptor Technologies, LLC and Rocket Parent, LLC (17) | Provider of SaaS-based safety and security software to the K-12 school market | First lien senior secured revolving loan ($0.8 par due 12/2023) | 7.00% (Libor + 6.00%/M) | 12/17/2018 | 0.8 | 0.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($20.8 par due 12/2024) | 7.00% (Libor + 6.00%/Q) | 12/17/2018 | 20.8 | 20.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Class A common units (2,294,000 units) | 12/17/2018 | 2.3 | 2.4 | ||||||||||||||||||||||||||||||||||||||||||||
23.9 | 24.0 | ||||||||||||||||||||||||||||||||||||||||||||||
RealPage, Inc. | Provider of enterprise software solutions to the residential real estate industry | Second lien senior secured loan ($84.1 par due 4/2029) | 7.25% (Libor + 6.50%/M) | 4/22/2021 | 82.9 | 83.2 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Regent Education, Inc. | Provider of software solutions designed to optimize the financial aid and enrollment processes | Warrant to purchase up to 5,393,194 shares of common stock (expires 12/2026) | 12/23/2016 | — | — | (2) | |||||||||||||||||||||||||||||||||||||||||
Relativity ODA LLC (17) | Electronic discovery document review software platform for use in litigations and investigations | First lien senior secured loan ($58.5 par due 5/2027) | 8.50% PIK (Libor + 7.50%/M) | 5/12/2021 | 58.5 | 57.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Retriever Medical/Dental Payments LLC, FSDC Holdings, LLC, Rectangle Ware-Ever Pay LLC and Retriever Enterprises, LLC (17) | Provider of payment processing services and software to healthcare providers | First lien senior secured loan ($26.0 par due 2/2023) | 6.00% (Libor + 5.00%/Q) | 3/14/2019 | 26.0 | 26.0 | (13) | ||||||||||||||||||||||||||||||||||||||||
Smarsh Inc., MobileGuard, LLC, Actiance, Inc. and Skywalker TopCo, LLC | SaaS based communication archival service provider | First lien senior secured loan ($13.3 par due 11/2025) | 9.25% (Libor + 8.25%/Q) | 11/20/2020 | 13.3 | 13.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Common units (1,432,835 units) | 11/20/2020 | 4.8 | 5.2 | (2) | |||||||||||||||||||||||||||||||||||||||||||
18.1 | 18.5 | ||||||||||||||||||||||||||||||||||||||||||||||
SocialFlow, Inc. | Social media optimization platform provider | Warrant to purchase up to 215,331 shares of Series C preferred stock (expires 1/2026) | 1/13/2016 | — | — | (2) | |||||||||||||||||||||||||||||||||||||||||
Sophia, L.P. | Provider of ERP software and services for higher education institutions | Second lien senior secured loan ($105.9 par due 10/2028) | 9.00% (Libor + 8.00%/Q) | 10/7/2020 | 105.9 | 105.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
SoundCloud Limited | Platform for receiving, sending, and distributing music | Common stock (73,422 shares) | 8/15/2017 | 0.4 | 0.7 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||
Storable, Inc. and EQT IX Co-Investment (E) SCSP | PMS solutions and web services for the self-storage industry | Second lien senior secured loan ($42.8 par due 4/2029) | 7.50% (Libor + 6.75%/Q) | 4/16/2021 | 42.8 | 42.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Limited partnership interests (614,950 interests) | 4/16/2021 | 6.2 | 6.9 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||||
49.0 | 49.7 | ||||||||||||||||||||||||||||||||||||||||||||||
Sundance Group Holdings, Inc. (17) | Provider of cloud-based document management and collaboration solutions | First lien senior secured loan ($15.4 par due 7/2027) | 7.75% (Libor + 6.75%/Q) | 7/2/2021 | 15.1 | 15.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
TCP Hawker Intermediate LLC (17) | Workforce management solutions provider | First lien senior secured loan ($6.6 par due 8/2026) | 6.50% (Libor + 5.50%/Q) | 12/1/2020 | 6.6 | 6.6 | (13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($34.9 par due 8/2026) | 6.50% (Libor + 5.50%/Q) | 8/30/2019 | 34.9 | 34.9 | (13) | ||||||||||||||||||||||||||||||||||||||||||
41.5 | 41.5 | ||||||||||||||||||||||||||||||||||||||||||||||
The Ultimate Software Group, Inc. and H&F Unite Partners, L.P. (17) | Provider of cloud based HCM solutions for businesses | First lien senior secured revolving loan | 5/3/2019 | — | — | (6)(15) | |||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($136.9 par due 5/2027) | 8.08% (Libor + 8.00%/M) | 5/3/2019 | 136.9 | 136.9 | (6) | ||||||||||||||||||||||||||||||||||||||||||
Limited partnership interests (12,583,556 interests) | 5/3/2019 | 12.6 | 15.6 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||||
149.5 | 152.5 |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
7.4 | — | |||||||||||||||||||
CallMiner, Inc. | Provider of cloud-based conversational analytics solutions | Second lien senior secured loan ($1.0 par due 5/2018) | 10.82% (Libor + 9.50%/M) | 7/23/2014 | 1.0 | 1.0 | (2)(16) | |||||||||||||
Second lien senior secured loan ($0.7 par due 8/2018) | 10.82% (Libor + 9.50%/M) | 7/23/2014 | 0.7 | 0.7 | (2)(16) | |||||||||||||||
Warrant to purchase up to 2,350,636 shares of Series 1 preferred stock (expires 7/2024) | 7/23/2014 | — | — | (2) | ||||||||||||||||
1.7 | 1.7 | |||||||||||||||||||
Clearwater Analytics, LLC (20) | Provider of integrated cloud-based investment portfolio management, accounting, reporting and analytics software | First lien senior secured revolving loan ($0.5 par due 9/2022) | 8.74% (Libor + 7.50%/Q) | 9/1/2016 | 0.5 | 0.5 | (2)(16) | |||||||||||||
CMW Parent LLC (fka Black Arrow, Inc.) | Multiplatform media firm | Series A units (32 units) | 9/11/2015 | — | — | (2) | ||||||||||||||
Columbo Midco Limited, Columbo Bidco Limited and Columbo Topco Limited (8)(9) | Compliance, accounting and tax consulting services provider | Preferred stock (34,028,135 shares) | 1/3/2017 | 2.3 | 3.4 | |||||||||||||||
Preferred stock (17,653,253 shares) | 1/3/2017 | 21.6 | 25.8 | |||||||||||||||||
Preferred stock (3,232,666 shares) | 1/3/2017 | 4.0 | 4.7 | |||||||||||||||||
27.9 | 33.9 | |||||||||||||||||||
Command Alkon Incorporated (20) | Software solutions provider to the ready-mix concrete industry | First lien senior secured loan ($28.6 par due 9/2023) | 6.24% (Libor + 5.00%/Q) | 9/1/2017 | 28.6 | 28.4 | (2)(16) | |||||||||||||
Second lien senior secured loan ($33.8 par due 3/2024) | 10.24% (Libor + 9.00%/Q) | 9/1/2017 | 33.8 | 33.4 | (2)(16) | |||||||||||||||
62.4 | 61.8 | |||||||||||||||||||
Compusearch Software Systems, Inc. | Provider of enterprise software and services for organizations in the public sector | Second lien senior secured loan ($51.0 par due 11/2021) | 10.06% (Libor + 8.75%/Q) | 1/3/2017 | 51.0 | 51.0 | (2)(16) | |||||||||||||
Compuware Parent, LLC | Web and mobile cloud performance testing and monitoring services provider | Class A-1 common stock (4,132 units) | 12/15/2014 | 2.2 | 2.0 | (2) | ||||||||||||||
Class B-1 common stock (4,132 units) | 12/15/2014 | 0.4 | 0.4 | (2) | ||||||||||||||||
Class C-1 common stock (4,132 units) | 12/15/2014 | 0.3 | 0.3 | (2) | ||||||||||||||||
Class A-2 common stock (4,132 units) | 12/15/2014 | — | — | (2) | ||||||||||||||||
Class B-2 common stock (4,132 units) | 12/15/2014 | — | — | (2) | ||||||||||||||||
Class C-2 common stock (4,132 units) | 12/15/2014 | — | — | (2) | ||||||||||||||||
2.9 | 2.7 | |||||||||||||||||||
Convergint Technologies LLC (20) | Integrated services provider for security, fire and life safety | Second lien senior secured loan ($3.0 par due 12/2020) | 9.95% (Libor + 8.50%/Q) | 1/3/2017 | 3.0 | 3.0 | (2)(16) | |||||||||||||
Second lien senior secured loan ($6.0 par due 12/2020) | 9.91% (Libor + 8.50%/Q) | 1/3/2017 | 6.0 | 6.0 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($25.0 par due 12/2020) | 9.50% (Libor + 8.00%/Q) | 1/3/2017 | 25.0 | 25.0 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($8.0 par due 12/2020) | 9.45% (Libor + 8.00%/Q) | 1/3/2017 | 8.0 | 8.0 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($75.0 par due 12/2020) | 9.43% (Libor + 8.00%/Q) | 1/3/2017 | 75.0 | 75.0 | (2)(16) | |||||||||||||||
117.0 | 117.0 | |||||||||||||||||||
Datapipe, Inc. | Data center provider | Second lien senior secured loan ($29.5 par due 9/2019) | 9.31% (Libor + 8.00%/Q) | 1/3/2017 | 28.5 | 29.5 | (2)(16) | |||||||||||||
Directworks, Inc. and Co-Exprise Holdings, Inc. | Provider of cloud-based software solutions for direct materials sourcing and supplier management for manufacturers | First lien senior secured loan ($1.9 par due 4/2018) | 12/19/2014 | 1.9 | 1.0 | (2)(15) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
Verscend Holding Corp. (17) | Healthcare analytics solutions provider | First lien senior secured revolving loan | 8/27/2018 | — | — | (15) | |||||||||||||||||||||||||||||||||||||||||
WebPT, Inc. (17) | Electronic medical record software provider | First lien senior secured loan ($48.1 par due 8/2024) | 7.75% (Libor + 6.75%/Q) | 8/28/2019 | 48.1 | 48.1 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Wellness AcquisitionCo, Inc. (17) | Provider of retail consumer insights and analytics for manufacturers and retailers in the natural, organic and specialty products industry | First lien senior secured loan ($18.8 par due 1/2027) | 6.50% (Libor + 5.50%/Q) | 1/20/2021 | 18.8 | 18.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
WorkWave Intermediate II, LLC (17) | Provider of cloud-based field services and fleet management solutions | First lien senior secured loan ($14.8 par due 6/2027) | 8.00% (Libor + 7.25%/Q) | 6/29/2021 | 14.8 | 14.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($45.5 par due 6/2027) | 8.00% PIK (Libor + 7.25.% PIK/Q) | 6/29/2021 | 45.5 | 45.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
60.3 | 59.7 | ||||||||||||||||||||||||||||||||||||||||||||||
Zemax Software Holdings, LLC (17) | Provider of optical illumination design software to design engineers | First lien senior secured revolving loan ($2.0 par due 6/2024) | 8.00% (Base Rate + 4.75%/Q) | 6/25/2018 | 2.0 | 2.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($16.5 par due 6/2024) | 6.75% (Libor + 5.75%/Q) | 6/25/2018 | 16.5 | 16.5 | (13) | ||||||||||||||||||||||||||||||||||||||||||
18.5 | 18.5 | ||||||||||||||||||||||||||||||||||||||||||||||
3,353.2 | 3,410.8 | 39.96 | % | ||||||||||||||||||||||||||||||||||||||||||||
Healthcare Services | |||||||||||||||||||||||||||||||||||||||||||||||
Absolute Dental Group LLC and Absolute Dental Equity, LLC (5)(17) | Dental services provider | First lien senior secured revolving loan ($1.0 par due 6/2024) | 11.25% (Base rate + 3.00% Cash, 5.00% PIK/Q) | 6/1/2021 | 1.0 | 1.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($48.9 par due 6/2024) | 10.00% (Libor + 4.00% Cash, 5.00% PIK/Q) | 6/1/2021 | 48.9 | 48.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Class A preferred units (14,750,000 units) | 1/5/2016 | 4.7 | 8.6 | (2) | |||||||||||||||||||||||||||||||||||||||||||
Common units (7,200,000 units) | 1/5/2016 | — | — | (2) | |||||||||||||||||||||||||||||||||||||||||||
54.6 | 58.5 | ||||||||||||||||||||||||||||||||||||||||||||||
ADG, LLC and RC IV GEDC Investor LLC (17) | Dental services provider | First lien senior secured revolving loan ($6.9 par due 9/2022) | 7.50% (Base rate + 3.75% Cash, .50% PIK/Q) | 9/28/2016 | 6.9 | 6.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($112.2 par due 3/2024) | 11.00% PIK (Libor + 10.00% PIK/Q) | 9/28/2016 | 92.1 | 101.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Membership units (3,000,000 units) | 9/28/2016 | 3.0 | — | (2) | |||||||||||||||||||||||||||||||||||||||||||
102.0 | 107.9 | ||||||||||||||||||||||||||||||||||||||||||||||
Alteon Health, LLC | Provider of physician management services | First lien senior secured loan ($2.8 par due 9/2023) | 7.50% (Libor + 6.50%/Q) | 5/15/2017 | 2.8 | 2.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Athenahealth, Inc., VVC Holding Corp., Virence Intermediate Holding Corp., and Virence Holdings LLC (17) | Revenue cycle management provider to the physician practices and acute care hospitals | Class A interests (0.39% interest) | 2/11/2019 | 9.0 | 25.5 | (2) | |||||||||||||||||||||||||||||||||||||||||
Bambino Group Holdings, LLC | Dental services provider | Class A preferred units (1,000,000 units) | 12/21/2016 | 1.0 | 1.3 | (2) | |||||||||||||||||||||||||||||||||||||||||
Bearcat Buyer, Inc. and Bearcat Parent, Inc. (17) | Provider of central institutional review boards over clinical trials | Second lien senior secured loan ($69.5 par due 7/2027) | 9.25% (Libor + 8.25%/Q) | 7/9/2019 | 69.5 | 69.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($12.7 par due 7/2027) | 9.25% (Libor + 8.25%/Q) | 9/10/2019 | 12.7 | 12.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Class B common units (4,211 units) | 7/9/2019 | 4.2 | 11.3 | (2) | |||||||||||||||||||||||||||||||||||||||||||
86.4 | 93.5 | ||||||||||||||||||||||||||||||||||||||||||||||
CCS-CMGC Holdings, Inc. (17) | Correctional facility healthcare operator | First lien senior secured revolving loan | 10/1/2018 | — | — | (15) | |||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($34.0 par due 10/2025) | 5.58% (Libor + 5.50%/M) | 9/25/2018 | 33.8 | 33.4 | |||||||||||||||||||||||||||||||||||||||||||
33.8 | 33.4 | ||||||||||||||||||||||||||||||||||||||||||||||
Center for Autism and Related Disorders, LLC (17) | Autism treatment and services provider specializing in applied behavior analysis therapy | First lien senior secured revolving loan ($2.2 par due 11/2023) | 5.62% (Libor + 5.50%/Q) | 11/21/2018 | 2.2 | 2.1 | (2)(16) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
Warrant to purchase up to 1,875,000 shares of Series 1 preferred stock (expires 12/2024) | 12/19/2014 | — | — | (2) | ||||||||||||||||
1.9 | 1.0 | |||||||||||||||||||
DTI Holdco, Inc. and OPE DTI Holdings, Inc. (20) | Provider of legal process outsourcing and managed services | First lien senior secured loan ($4.1 par due 9/2023) | 6.56% (Libor + 5.25%/Q) | 9/23/2016 | 4.1 | 3.9 | (4)(16) | |||||||||||||
Class A common stock (7,500 shares) | 8/19/2014 | 7.5 | 6.3 | (2) | ||||||||||||||||
Class B common stock (7,500 shares) | 8/19/2014 | — | — | (2) | ||||||||||||||||
11.6 | 10.2 | |||||||||||||||||||
Emergency Communications Network, LLC (20) | Provider of mission critical emergency mass notification solutions | First lien senior secured loan ($58.0 par due 6/2023) | 7.49% (Libor + 6.25%/Q) | 6/1/2017 | 57.6 | 57.4 | (2)(16) | |||||||||||||
EN Engineering, L.L.C. (20) | National utility services firm providing engineering and consulting services to natural gas, electric power and other energy and industrial end markets | First lien senior secured revolving loan | — | 6/30/2015 | — | — | (18) | |||||||||||||
Entertainment Partners, LLC and Entertainment Partners Canada Inc. (20) | Provider of entertainment workforce and production management solutions | First lien senior secured loan ($2.3 par due 5/2022) | 6.91% (Libor + 5.50%/Q) | 5/8/2017 | 2.1 | 2.3 | (2)(9)(16) | |||||||||||||
First lien senior secured loan ($2.8 par due 5/2022) | 6.79% (Libor + 5.50%/Q) | 5/8/2017 | 2.6 | 2.8 | (2)(9)(16) | |||||||||||||||
First lien senior secured loan ($2.8 par due 5/2022) | 6.60% (Libor + 5.50%/Q) | 5/8/2017 | 2.6 | 2.8 | (2)(9)(16) | |||||||||||||||
First lien senior secured loan ($3.6 par due 5/2023) | 7.02% (Libor + 5.75%/Q) | 5/8/2017 | 3.6 | 3.6 | (2)(16) | |||||||||||||||
First lien senior secured loan ($22.6 par due 5/2023) | 7.02% (Libor + 5.75%/Q) | 5/8/2017 | 22.6 | 22.4 | (3)(16) | |||||||||||||||
First lien senior secured loan ($4.2 par due 5/2023) | 7.06% (Libor + 5.75%/Q) | 5/8/2017 | 4.2 | 4.1 | (2)(16) | |||||||||||||||
First lien senior secured loan ($26.1 par due 5/2023) | 7.06% (Libor + 5.75%/Q) | 5/8/2017 | 26.1 | 25.8 | (3)(16) | |||||||||||||||
First lien senior secured loan ($4.2 par due 5/2023) | 7.19% (Libor + 5.75%/Q) | 5/8/2017 | 4.2 | 4.1 | (2)(16) | |||||||||||||||
First lien senior secured loan ($26.1 par due 5/2023) | 7.19% (Libor + 5.75%/Q) | 5/8/2017 | 26.1 | 25.8 | (3)(16) | |||||||||||||||
94.1 | 93.7 | |||||||||||||||||||
Faction Holdings, Inc. and The Faction Group LLC (fka PeakColo Holdings, Inc.) (20) | Wholesaler of cloud-based software applications and services | First lien senior secured revolving loan ($1.0 par due 1/2019) | 9.00% (Base Rate + 4.75%/Q) | 1/6/2017 | 1.0 | 1.0 | (2)(16) | |||||||||||||
First lien senior secured loan ($8.0 par due 1/2021) | 10.56% (Libor + 9.25%/M) | 1/6/2017 | 8.0 | 8.0 | (2)(16) | |||||||||||||||
Warrant to purchase up to 5,185 shares of Series A preferred stock (expires 1/2027) | 1/6/2017 | — | 0.1 | (2) | ||||||||||||||||
Warrant to purchase up to 1,481 shares of Series A preferred stock (expires 12/2025) | 12/3/2015 | — | — | (2) | ||||||||||||||||
Warrant to purchase up to 2,037 shares of Series A preferred stock (expires 11/2024) | 11/3/2014 | 0.1 | 0.1 | (2) | ||||||||||||||||
9.1 | 9.2 | |||||||||||||||||||
First Insight, Inc. | Software company providing merchandising and pricing solutions to companies worldwide | Warrant to purchase up to 122,827 units of Series C preferred stock (expires 3/2024) | 3/20/2014 | — | — | (2) | ||||||||||||||
Flexera Software LLC | Provider of software and software applications that manages application usage, compliance and security risk | Second lien senior secured loan ($5.0 par due 4/2021) | 8.33% (Libor + 7.00%/Q) | 1/3/2017 | 4.8 | 5.0 | (2)(16) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
Comprehensive EyeCare Partners, LLC (17) | Vision care practice management company | First lien senior secured revolving loan ($0.5 par due 2/2024) | 7.00% (Libor + 5.75%/Q) | 2/14/2018 | 0.5 | 0.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($9.4 par due 2/2024) | 7.00% (Libor + 5.75%/Q) | 2/14/2018 | 9.4 | 9.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.3 par due 2/2024) | 8.00% (Base Rate + 4.75%/Q) | 4/19/2021 | 0.3 | 0.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.4 par due 2/2024) | 7.00% (Libor + 5.75%/Q) | 4/19/2021 | 1.4 | 1.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
11.6 | 11.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Convey Health Solutions, Inc. | Healthcare workforce management software provider | First lien senior secured loan ($2.7 par due 9/2026) | 5.50% (Libor + 4.75%/Q) | 9/4/2019 | 2.7 | 2.7 | (13) | ||||||||||||||||||||||||||||||||||||||||
CVP Holdco, Inc. and OMERS Wildcats Investment Holdings LLC (17) | Veterinary hospital operator | First lien senior secured revolving loan | 10/31/2019 | — | — | (15) | |||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($39.5 par due 10/2025) | 6.25% (Libor + 5.25%/Q) | 10/31/2019 | 39.5 | 39.5 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($4.4 par due 10/2025) | 6.25% (Libor + 5.25%/Q) | 4/26/2021 | 4.4 | 4.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Common stock (32,429 shares) | 10/31/2019 | 10.0 | 14.1 | (2) | |||||||||||||||||||||||||||||||||||||||||||
53.9 | 58.0 | ||||||||||||||||||||||||||||||||||||||||||||||
GHX Ultimate Parent Corporation, Commerce Parent, Inc. and Commerce Topco, LLC (17) | On-demand supply chain automation solutions provider to the healthcare industry | Second lien senior secured loan ($114.0 par due 5/2029) | 7.50% (Libor + 6.75%/Q) | 5/26/2021 | 114.0 | 112.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Class A units (14,013,303 units) | 6/30/2017 | 14.0 | 29.1 | (2) | |||||||||||||||||||||||||||||||||||||||||||
128.0 | 142.0 | ||||||||||||||||||||||||||||||||||||||||||||||
Global Medical Response, Inc. | Emergency air medical services provider | Senior subordinated loan ($145.1 par due 3/2026) | 8.88% (Libor + 7.88%/Q) | 3/14/2018 | 145.1 | 145.1 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 115,733 units of common stock (expires 3/2028) | 3/14/2018 | 0.9 | 3.0 | (2) | |||||||||||||||||||||||||||||||||||||||||||
146.0 | 148.1 | ||||||||||||||||||||||||||||||||||||||||||||||
HealthEdge Software, Inc. (17) | Provider of financial, administrative and clinical software platforms to the healthcare industry | First lien senior secured revolving loan ($1.3 par due 4/2026) | 7.25% (Libor + 6.25%/Q) | 4/9/2020 | 1.2 | 1.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($14.4 par due 4/2026) | 7.25% (Libor + 6.25%/Q) | 4/9/2020 | 14.4 | 14.4 | |||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($47.5 par due 4/2026) | 7.25% (Libor + 6.25%/Q) | 12/16/2020 | 47.5 | 47.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
63.1 | 63.2 | ||||||||||||||||||||||||||||||||||||||||||||||
Honor Technology, Inc. | Nursing and home care provider | First lien senior secured loan ($2.5 par due 8/2026) | 11.00% (Libor + 10.00%/M) | 8/6/2021 | 2.4 | 2.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 133,333 shares of series D-2 preferred stock (expires 8/2031) | 8/6/2021 | 0.1 | 0.1 | (2) | |||||||||||||||||||||||||||||||||||||||||||
2.5 | 2.6 | ||||||||||||||||||||||||||||||||||||||||||||||
JDC Healthcare Management, LLC (17) | Dental services provider | First lien senior secured revolving loan ($4.3 par due 4/2022) | 4/10/2017 | 3.8 | 3.2 | (2)(12) | |||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($36.4 par due 4/2023) | 4/10/2017 | 31.7 | 27.4 | (2)(12) | |||||||||||||||||||||||||||||||||||||||||||
35.5 | 30.6 | ||||||||||||||||||||||||||||||||||||||||||||||
KBHS Acquisition, LLC (d/b/a Alita Care, LLC) (17) | Provider of behavioral health services | First lien senior secured revolving loan ($1.3 par due 3/2022) | 6.00% (Libor + 4.00% Cash, 1.00% PIK/M) | 3/17/2017 | 1.3 | 1.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
MCH Holdings, Inc., MC Acquisition Holdings I, LLC and Privia Health Group, Inc. | Healthcare professional provider | First lien senior secured loan ($111.0 par due 7/2022) | 8.50% (Libor + 7.00%/M) | 7/26/2017 | 111.0 | 111.0 | (13) | ||||||||||||||||||||||||||||||||||||||||
Common stock (343,094 shares) | 4/30/2021 | — | 8.0 | (2) | |||||||||||||||||||||||||||||||||||||||||||
Class A units (1,438,643 shares) | 1/17/2014 | — | 0.6 | (2) | |||||||||||||||||||||||||||||||||||||||||||
111.0 | 119.6 |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
GTCR-Ultra Acquisition, Inc. and GTCR-Ultra Holdings, LLC (20) | Provider of payment processing and merchant acquiring solutions | First lien senior secured loan ($8.9 par due 8/2024) | 7.24% (Libor + 6.00%/Q) | 8/1/2017 | 8.9 | 8.7 | (2)(16) | |||||||||||||
Class A-2 units (911.1 units) | 8/1/2017 | 0.9 | 0.9 | (2) | ||||||||||||||||
Class B units (2,878,372.4 units) | 8/1/2017 | — | — | (2) | ||||||||||||||||
9.8 | 9.6 | |||||||||||||||||||
IfByPhone Inc. | Voice-based marketing automation software provider | Warrant to purchase up to 124,300 shares of Series C preferred stock (expires 10/2022) | 10/15/2012 | 0.1 | 0.1 | (2) | ||||||||||||||
Infogix, Inc. and Infogix Parent Corporation | Enterprise data analytics and integrity software solutions provider | First lien senior secured loan ($54.6 par due 12/2021) | 7.80% (Libor + 6.50%/Q) | 1/3/2017 | 54.6 | 54.6 | (2)(13)(16) | |||||||||||||
First lien senior secured loan ($34.9 par due 12/2021) | 7.80% (Libor + 6.50%/Q) | 1/3/2017 | 34.9 | 34.9 | (3)(13)(16) | |||||||||||||||
Series A preferred stock (2,475 shares) | 1/3/2017 | 2.5 | 2.9 | |||||||||||||||||
Common stock (1,297,768 shares) | 1/3/2017 | — | 1.1 | |||||||||||||||||
92.0 | 93.5 | |||||||||||||||||||
Inmar, Inc. | Technology-driven solutions provider for retailers, wholesalers and manufacturers | Second lien senior secured loan ($28.3 par due 5/2025) | 9.27% (Libor + 8.00%/Q) | 4/25/2017 | 27.9 | 28.0 | (2)(16) | |||||||||||||
Interactions Corporation | Developer of a speech recognition software based customer interaction system | Second lien senior secured loan ($5.9 par due 3/2021) | 9.85% (Libor + 8.60%/M) | 6/16/2015 | 5.8 | 5.9 | (2)(14)(16) | |||||||||||||
Second lien senior secured loan ($19.1 par due 3/2021) | 9.85% (Libor + 8.60%/M) | 6/16/2015 | 18.9 | 19.2 | (5)(14)(16) | |||||||||||||||
Warrant to purchase up to 68,187 shares of Series G-3 convertible preferred stock (expires 6/2022) | 6/16/2015 | 0.3 | 0.2 | (2) | ||||||||||||||||
25.0 | 25.3 | |||||||||||||||||||
InterVision Systems, LLC and InterVision Holdings, LLC | Provider of cloud based IT solutions, infrastructure and services | First lien senior secured loan ($32.5 par due 5/2022) | 10.06% (Libor + 8.65%/Q) | 5/31/2017 | 32.5 | 32.5 | (2)(16) | |||||||||||||
Provider of IT solutions, infrastructure and services for the cloud ecosystem | Class A membership units (1,000 units) | 5/31/2017 | 1.0 | 1.1 | ||||||||||||||||
33.5 | 33.6 | |||||||||||||||||||
iParadigms Holdings, LLC | Anti-plagiarism software provider to the education market | Second lien senior secured loan ($39.5 par due 7/2022) | 8.58% (Libor + 7.25%/Q) | 1/3/2017 | 38.8 | 38.7 | (2)(16) | |||||||||||||
iPipeline, Inc., Internet Pipeline, Inc. and iPipeline Holdings, Inc. (20) | Provider of SaaS-based software solutions to the insurance and financial services industry | First lien senior secured loan ($3.7 par due 8/2022) | 7.48% (Libor + 6.25%/Q) | 6/15/2017 | 3.7 | 3.7 | (2)(16) | |||||||||||||
First lien senior secured loan ($9.1 par due 8/2022) | 8.48% (Libor + 7.25%/Q) | 9/15/2017 | 9.1 | 9.1 | (2)(16) | |||||||||||||||
First lien senior secured loan ($46.4 par due 8/2022) | 8.49% (Libor + 7.25%/Q) | 8/4/2015 | 46.4 | 46.4 | (3)(16) | |||||||||||||||
First lien senior secured loan ($14.7 par due 8/2022) | 8.49% (Libor + 7.25%/Q) | 8/4/2015 | 14.7 | 14.7 | (4)(16) | |||||||||||||||
Preferred stock (1,100 shares) | 8/4/2015 | 1.1 | 3.3 | (2) | ||||||||||||||||
Common stock (668,781 shares) | 8/4/2015 | — | — | (2) | ||||||||||||||||
75.0 | 77.2 | |||||||||||||||||||
IQMS | Provider of enterprise resource planning and manufacturing execution software for small and midsized manufacturers | First lien senior secured loan ($9.0 par due 3/2022) | 9.49% (Libor + 8.25%/Q) | 3/28/2017 | 9.0 | 9.0 | (2)(16) | |||||||||||||
First lien senior secured loan ($18.8 par due 3/2022) | 9.49% (Libor + 8.25%/Q) | 3/28/2017 | 18.8 | 18.8 | (3)(16) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
Minerva Surgical, Inc. | Medical device company focused on women's health | First lien senior secured loan ($32.4 par due 12/2022) | 11.50% (Libor + 3.50% Cash, 6.00% PIK/Q) | 12/30/2019 | 31.9 | 34.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Napa Management Services Corporation and ASP NAPA Holdings, LLC | Anesthesia management services provider | Second lien senior secured loan ($72.8 par due 10/2023) | 11.00% (Libor + 10.00%/M) | 4/19/2016 | 72.8 | 72.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Preferred units (1,842 units) | 15.00% PIK | 6/29/2020 | 0.1 | 0.1 | (2) | ||||||||||||||||||||||||||||||||||||||||||
Senior preferred units (5,320 units) | 8.00% PIK | 6/29/2020 | 0.3 | 0.3 | (2) | ||||||||||||||||||||||||||||||||||||||||||
Class A units (25,277 units) | 4/19/2016 | 2.5 | 4.9 | (2) | |||||||||||||||||||||||||||||||||||||||||||
75.7 | 78.1 | ||||||||||||||||||||||||||||||||||||||||||||||
NMN Holdings III Corp. and NMN Holdings LP (17) | Provider of complex rehabilitation technology solutions for patients with mobility loss | First lien senior secured revolving loan | —% | 11/13/2018 | — | — | (15) | ||||||||||||||||||||||||||||||||||||||||
Partnership units (30,000 units) | 11/13/2018 | 3.0 | 2.9 | (2) | |||||||||||||||||||||||||||||||||||||||||||
3.0 | 2.9 | ||||||||||||||||||||||||||||||||||||||||||||||
NueHealth Performance, LLC (17) | Developer, builder and manager of specialty surgical hospitals and ambulatory surgery centers | First lien senior secured revolving loan ($3.3 par due 9/2023) | 8.25% (Libor + 7.25%/M) | 9/27/2018 | 3.3 | 3.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($12.5 par due 9/2023) | 8.25% (Libor + 7.25%/M) | 9/27/2018 | 12.5 | 12.5 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($2.5 par due 9/2023) | 8.25% (Libor + 7.25%/M) | 2/1/2020 | 2.5 | 2.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
18.3 | 18.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Olympia Acquisition, Inc. and Olympia TopCo, L.P. (17) | Behavioral health and special education platform provider | First lien senior secured revolving loan ($10.1 par due 9/2024) | 8.50% (Libor + 5.50% Cash, 2.00% PIK/M) | 9/24/2019 | 10.1 | 8.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured revolving loan ($0.2 par due 9/2024) | 8.50% (Libor + 5.50% Cash, 2.00% PIK/Q) | 12/17/2020 | 0.2 | 0.1 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($42.2 par due 9/2026) | 8.50% (Libor + 5.50% Cash, 2.00% PIK/M) | 9/24/2019 | 42.2 | 37.1 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.6 par due 9/2026) | 8.50% (Libor + 5.50% Cash, 2.00% PIK/M) | 12/31/2020 | 0.6 | 0.6 | (13) | ||||||||||||||||||||||||||||||||||||||||||
Preferred units (417,189) | 15.00% PIK | 7/28/2021 | 0.3 | 0.3 | (2) | ||||||||||||||||||||||||||||||||||||||||||
Class A common units (9,549,000 units) | 9/24/2019 | 9.5 | 1.4 | (2) | |||||||||||||||||||||||||||||||||||||||||||
62.9 | 48.4 | ||||||||||||||||||||||||||||||||||||||||||||||
OMH-HealthEdge Holdings, LLC | Provider of financial, administrative and clinical software platforms to the healthcare industry | First lien senior secured loan ($26.2 par due 10/2025) | 6.50% (Libor + 5.50%/Q) | 10/24/2019 | 26.2 | 26.2 | (13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($15.4 par due 10/2025) | 6.50% (Libor + 5.50%/Q) | 3/10/2021 | 15.4 | 15.4 | (13) | ||||||||||||||||||||||||||||||||||||||||||
41.6 | 41.6 | ||||||||||||||||||||||||||||||||||||||||||||||
OSYS Holdings, LLC | Provider of technology-enabled solutions to pharmacies | Limited liability company membership interest (1.57%) | 11/21/2013 | 1.0 | 2.5 | (2) | |||||||||||||||||||||||||||||||||||||||||
Pathway Vet Alliance LLC and Jedi Group Holdings LLC (17) | Veterinary hospital operator | First lien senior secured revolving loan | —% | 3/31/2020 | — | — | (15) | ||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($76.3 par due 3/2028) | 8.75% (Libor + 7.75%/M) | 3/31/2020 | 76.3 | 76.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Class R common units (6,004,768 units) | 3/31/2020 | 6.0 | 9.6 | (2) | |||||||||||||||||||||||||||||||||||||||||||
82.3 | 85.9 | ||||||||||||||||||||||||||||||||||||||||||||||
PhyMED Management LLC | Provider of anesthesia services | Second lien senior secured loan ($54.1 par due 9/2022) | 15.00% (Libor rate + 3.00% cash, 11.00%/Q) | 12/18/2015 | 54.0 | 50.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Premise Health Holding Corp. and OMERS Bluejay Investment Holdings LP (17) | Provider of employer-sponsored onsite health and wellness clinics and pharmacies | First lien senior secured revolving loan ($12.0 par due 7/2023) | 3.37% (Libor + 3.25%/Q) | 7/10/2018 | 12.0 | 12.0 | (2)(16) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($8.7 par due 7/2025) | 3.63% (Libor + 3.50%/Q) | 7/10/2018 | 8.7 | 8.7 |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
First lien senior secured loan ($10.0 par due 3/2022) | 9.49% (Libor + 8.25%/Q) | 3/28/2017 | 10.0 | 10.0 | (4)(16) | |||||||||||||||
37.8 | 37.8 | |||||||||||||||||||
Iron Bow Technologies, LLC | Provider and value added reseller of information technology products and solutions | Second lien senior secured loan ($10.0 par due 2/2021) | 12.99% (Libor + 11.75%/Q) | 1/3/2017 | 10.0 | 10.0 | (2)(16) | |||||||||||||
IronPlanet, Inc. | Online auction platform provider for used heavy equipment | Warrant to purchase to up to 133,333 shares of Series C preferred stock (expires 9/2023) | 9/23/2013 | 0.2 | 0.4 | (2) | ||||||||||||||
LLSC Holdings Corporation (dba Lawrence Merchandising Services) (8) | Marketing services provider | Series A preferred stock (9,000 shares) | 1/3/2017 | 19.2 | 17.6 | |||||||||||||||
Common stock (1,000 shares) | 1/3/2017 | — | — | |||||||||||||||||
19.2 | 17.6 | |||||||||||||||||||
Miles 33 (Finance) Limited (8)(9) | Software provider to the regional media industry and magazines | First lien senior secured loan ($1.0 par due 9/2018) | 6.75% (EURIBOR + 6.50%/Q) | 1/3/2017 | 0.9 | 1.0 | ||||||||||||||
First lien senior secured loan ($4.0 par due 9/2018) | 6.75% (EURIBOR + 6.50%/Q) | 1/3/2017 | 3.7 | 4.0 | ||||||||||||||||
Senior subordinated loan ($17.2 par due 9/2021) | 4.75% (EURIBOR + 4.50%/Q) | 1/3/2017 | 9.9 | 16.5 | ||||||||||||||||
Preferred stock (19,500,000 shares) | 1/3/2017 | — | — | |||||||||||||||||
Preferred stock (900,000 shares) | 1/3/2017 | — | — | |||||||||||||||||
Common stock (600,000 shares) | 1/3/2017 | — | — | |||||||||||||||||
14.5 | 21.5 | |||||||||||||||||||
Ministry Brands, LLC and MB Parent HoldCo, L.P. (20) | Software and payment services provider to faith-based institutions | First lien senior secured loan ($0.3 par due 12/2022) | 6.24% (Libor + 5.00%/Q) | 8/22/2017 | 0.3 | 0.3 | (2)(16) | |||||||||||||
First lien senior secured loan ($1.1 par due 12/2022) | 8.25% (Base Rate + 4.00%/Q) | 8/22/2017 | 1.1 | 1.1 | (2)(16) | |||||||||||||||
First lien senior secured loan ($9.3 par due 12/2022) | 6.24% (Libor + 5.00%/Q) | 4/6/2017 | 9.3 | 9.3 | (2)(16) | |||||||||||||||
First lien senior secured loan ($1.3 par due 12/2022) | 8.25% (Base Rate + 4.00%/Q) | 4/6/2017 | 1.3 | 1.3 | (2)(16) | |||||||||||||||
First lien senior secured loan ($16.7 par due 12/2022) | 6.24% (Libor + 5.00%/Q) | 4/6/2017 | 16.5 | 16.7 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($0.9 par due 6/2023) | 10.49% (Libor + 9.25%/Q) | 8/22/2017 | 0.9 | 0.9 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($4.1 par due 6/2023) | 12.50% (Base Rate + 8.25%/Q) | 8/22/2017 | 4.1 | 4.1 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($4.7 par due 6/2023) | 10.49% (Libor + 9.25%/Q) | 4/6/2017 | 4.7 | 4.7 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($9.2 par due 6/2023) | 10.49% (Libor + 9.25%/Q) | 4/6/2017 | 9.2 | 9.2 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($16.6 par due 6/2023) | 10.49% (Libor + 9.25%/Q) | 12/2/2016 | 16.6 | 16.6 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($90.0 par due 6/2023) | 10.49% (Libor + 9.25%/Q) | 12/2/2016 | 89.3 | 90.0 | (2)(16) | |||||||||||||||
Class A units (500,000 units) | 12/2/2016 | 5.0 | 6.6 | (2) | ||||||||||||||||
158.3 | 160.8 | |||||||||||||||||||
Mitchell International, Inc. | Provider of mission-critical software and solutions to the property and casualty claims industry | Second lien senior secured loan ($17.0 par due 10/2021) | 8.81% (Libor + 7.50%/Q) | 1/3/2017 | 17.0 | 17.0 | (2)(16) | |||||||||||||
MVL Group, Inc. (8) | Marketing research provider | Senior subordinated loan ($0.5 par due 7/2017) | 4/1/2010 | 0.2 | 0.2 | (2)(15) | ||||||||||||||
Common stock (560,716 shares) | 4/1/2010 | — | — | (2) | ||||||||||||||||
0.2 | 0.2 |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($67.1 par due 7/2026) | 7.63% (Libor + 7.50%/Q) | 7/10/2018 | 66.7 | 67.1 | (2) | ||||||||||||||||||||||||||||||||||||||||||
Class A units (9,775 units) | 7/10/2018 | 9.8 | 18.3 | (2) | |||||||||||||||||||||||||||||||||||||||||||
97.2 | 106.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Respicardia, Inc. | Developer of implantable therapies to improve cardiovascular health | Warrant to purchase up to 99,094 shares of Series C preferred stock (expires 6/2022) | 6/28/2012 | — | — | (2) | |||||||||||||||||||||||||||||||||||||||||
RTI Surgical, Inc. and Pioneer Surgical Technology, Inc. (17) | Manufacturer of biologic, metal and synthetic implants/devices | First lien senior secured revolving loan ($4.0 par due 7/2026) | 8.25% (Libor + 6.75%/M) | 7/20/2020 | 4.0 | 4.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($37.8 par due 7/2026) | 8.25% (Libor + 6.75%/Q) | 7/20/2020 | 37.8 | 37.8 | (13) | ||||||||||||||||||||||||||||||||||||||||||
41.8 | 41.8 | ||||||||||||||||||||||||||||||||||||||||||||||
SiroMed Physician Services, Inc. and SiroMed Equity Holdings, LLC (17) | Outsourced anesthesia provider | First lien senior secured loan ($12.8 par due 3/2024) | 5.75% (Libor + 4.75%/Q) | 3/26/2018 | 12.8 | 10.6 | (13) | ||||||||||||||||||||||||||||||||||||||||
Common units (684,854 units) | 3/26/2018 | 4.8 | 0.5 | (2) | |||||||||||||||||||||||||||||||||||||||||||
17.6 | 11.1 | ||||||||||||||||||||||||||||||||||||||||||||||
SM Wellness Holdings, Inc. and SM Holdco, Inc. (17) | Breast cancer screening provider | First lien senior secured loan ($3.4 par due 4/2028) | 5.50% (Libor + 4.75%/Q) | 4/15/2021 | 3.4 | 3.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Series A units (8,041 units) | 8/1/2018 | 8.0 | 0.1 | (2) | |||||||||||||||||||||||||||||||||||||||||||
Series B units (804,142 units) | 8/1/2018 | — | 8.8 | (2) | |||||||||||||||||||||||||||||||||||||||||||
11.4 | 12.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Symplr Software Inc. and Symplr Software Intermediate Holdings, Inc. (17) | SaaS based healthcare compliance platform provider | Second lien senior secured loan ($69.9 par due 12/2028) | 8.63% (Libor + 7.88%/Q) | 12/22/2020 | 69.9 | 69.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Series C preferred shares (116,054 shares) | 11.00% PIK | 12/22/2020 | 124.1 | 124.1 | (2) | ||||||||||||||||||||||||||||||||||||||||||
194.0 | 194.0 | ||||||||||||||||||||||||||||||||||||||||||||||
Synergy HomeCare Franchising, LLC and NP/Synergy Holdings, LLC (17) | Franchisor of private-pay home care for the elderly | First lien senior secured loan ($15.3 par due 4/2024) | 6.75% (Libor + 5.75%/Q) | 4/2/2018 | 15.3 | 15.3 | (13) | ||||||||||||||||||||||||||||||||||||||||
Common units (550 units) | 4/2/2018 | 0.5 | 1.0 | ||||||||||||||||||||||||||||||||||||||||||||
15.8 | 16.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Teligent, Inc. (17) | Pharmaceutical company that develops, manufactures and markets injectable pharmaceutical products | Second lien senior secured loan ($0.9 par due 12/2022) | 1/27/2021 | 0.9 | 0.4 | (2)(12) | |||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($0.5 par due 12/2022) | 1/27/2021 | 0.5 | 0.2 | (2)(10)(12) | |||||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($80.3 par due 12/2022) | 12/13/2018 | 72.4 | 33.9 | (2)(12) | |||||||||||||||||||||||||||||||||||||||||||
Series D preferred stock (77,725 shares) | 1/27/2021 | — | — | (2) | |||||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 4,904,916 shares of common stock (expires 4/2025) | 4/6/2020 | — | — | (2) | |||||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 122,548 shares of common stock (expires 7/2025) | 7/20/2020 | — | — | (2) | |||||||||||||||||||||||||||||||||||||||||||
73.8 | 34.5 | ||||||||||||||||||||||||||||||||||||||||||||||
Therapy Brands Holdings LLC (17) | Provider of software solutions for the mental and behavioral health market segments | Second lien senior secured loan ($20.5 par due 5/2029) | 7.50% (Libor + 6.75%/Q) | 6/2/2021 | 20.3 | 20.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Touchstone Acquisition, Inc. and Touchstone Holding, L.P. | Manufacturer of consumable products in the dental, medical, cosmetic and consumer/industrial end-markets | First lien senior secured loan ($36.1 par due 11/2025) | 4.83% (Libor + 4.75%/M) | 11/15/2018 | 36.1 | 36.1 | |||||||||||||||||||||||||||||||||||||||||
Class A preferred units (2,149 units) | 8.00% PIK | 11/15/2018 | 2.7 | 2.7 | (2) | ||||||||||||||||||||||||||||||||||||||||||
38.8 | 38.8 | ||||||||||||||||||||||||||||||||||||||||||||||
U.S. Anesthesia Partners, Inc. | Anesthesiology service provider | Second lien senior secured loan ($68.0 par due 6/2025) | 8.25% (Libor + 7.25%/Q) | 6/16/2017 | 67.5 | 68.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Urology Management Associates, LLC and JWC/UMA Holdings, L.P. | Urology private practice | First lien senior secured loan ($9.3 par due 8/2024) | 5.50% (Libor + 4.50%/M) | 8/31/2018 | 9.2 | 9.3 | (13) | ||||||||||||||||||||||||||||||||||||||||
Limited partnership interests (3.64% interest) | 8/31/2018 | 4.8 | 5.1 | (2) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
NAS, LLC, Nationwide Marketing Group, LLC and Nationwide Administrative Services, Inc. | Buying and marketing services organization for appliance, furniture and consumer electronics dealers | Second lien senior secured loan ($24.1 par due 12/2021) | 10.06% (Libor + 8.75%/Q) | 6/1/2015 | 24.1 | 23.6 | (2)(16) | |||||||||||||
National Intergovernmental Purchasing Alliance Company | Leading group purchasing organization for public agencies and educational institutions in the U.S | First lien senior secured loan ($1.2 par due 9/2022) | 6.32% (Libor + 5.00%/Q) | 8/2/2017 | 1.2 | 1.2 | (2)(16) | |||||||||||||
First lien senior secured loan ($2.5 par due 9/2022) | 6.33% (Libor + 5.00%/Q) | 8/2/2017 | 2.5 | 2.5 | (2)(16) | |||||||||||||||
3.7 | 3.7 | |||||||||||||||||||
Novetta Solutions, LLC | Provider of advanced analytics solutions for the government, defense and commercial industries | First lien senior secured loan ($12.8 par due 10/2022) | 6.34% (Libor + 5.00%/Q) | 1/3/2017 | 12.3 | 12.3 | (2)(16) | |||||||||||||
Second lien senior secured loan ($31.0 par due 10/2023) | 9.84% (Libor + 8.50%/Q) | 1/3/2017 | 28.4 | 28.2 | (2)(16) | |||||||||||||||
40.7 | 40.5 | |||||||||||||||||||
Palermo Finance Corporation (20) | Provider of mission-critical integrated public safety software and services to local, state and federal agencies | First lien senior secured revolving loan | — | 4/17/2017 | — | — | (18) | |||||||||||||
First lien senior secured loan ($11.0 par due 4/2023) | 5.80% (Libor + 4.50%/Q) | 4/17/2017 | 10.9 | 10.9 | (4)(16) | |||||||||||||||
Second lien senior secured loan ($54.3 par due 10/2023) | 9.80% (Libor + 8.50%/Q) | 4/17/2017 | 54.3 | 54.3 | (2)(16) | |||||||||||||||
65.2 | 65.2 | |||||||||||||||||||
Park Place Technologies, LLC | Provider of third party hardware maintenance and support services for IT data centers | Second lien senior secured loan ($41.5 par due 12/2022) | 10.32% (Libor + 9.00%/Q) | 1/3/2017 | 41.5 | 41.5 | (2)(16) | |||||||||||||
PayNearMe, Inc. | Electronic cash payment system provider | Warrant to purchase up to 195,726 shares of Series E preferred stock (expires 3/2023) | 3/11/2016 | 0.2 | — | (5) | ||||||||||||||
PDI TA Holdings, Inc. (20) | Provider of enterprise management software for the convenience retail and petroleum wholesale markets | First lien senior secured loan ($29.4 par due 8/2023) | 6.07% (Libor + 4.75%/Q) | 8/25/2017 | 29.4 | 29.1 | (2)(16) | |||||||||||||
Second lien senior secured loan ($66.8 par due 8/2024) | 10.07% (Libor + 8.75%/Q) | 8/25/2017 | 66.8 | 66.1 | (2)(16) | |||||||||||||||
96.2 | 95.2 | |||||||||||||||||||
Pegasus Intermediate Holdings, LLC (20) | Plant maintenance and scheduling process software provider | First lien senior secured loan ($1.3 par due 11/2022) | 7.55% (Libor + 6.25%/Q) | 11/7/2016 | 1.3 | 1.3 | (2)(16) | |||||||||||||
PHL Investors, Inc., and PHL Holding Co. (8) | Mortgage services | Class A common stock (576 shares) | 7/31/2012 | 3.8 | — | (2) | ||||||||||||||
PHNTM Holdings, Inc. and Planview Parent, Inc. | Provider of project and portfolio management software | First lien senior secured loan ($36.7 par due 1/2023) | 6.49% (Libor + 5.25%/Q) | 1/27/2017 | 36.1 | 36.7 | (2)(16) | |||||||||||||
Second lien senior secured loan ($62.0 par due 7/2023) | 10.99% (Libor + 9.75%/Q) | 1/27/2017 | 61.1 | 62.0 | (2)(16) | |||||||||||||||
Class A common shares (990 shares) | 1/27/2017 | 1.0 | 1.0 | (2) | ||||||||||||||||
Class B common shares (168,329 shares) | 1/27/2017 | — | — | (2) | ||||||||||||||||
98.2 | 99.7 | |||||||||||||||||||
Poplicus Incorporated | Business intelligence and market analytics platform for companies that sell to the public sector | First lien senior secured loan ($3.5 par due 1/2018) | 6.00% | 6/25/2015 | 2.6 | 1.2 | (5)(15) | |||||||||||||
Warrant to purchase up to 2,402,991 shares of Series C preferred stock (expires 6/2025) | 6/25/2015 | 0.1 | — | (5) | ||||||||||||||||
2.7 | 1.2 |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
14.0 | 14.4 | ||||||||||||||||||||||||||||||||||||||||||||||
Veterinary Practice Partners, LLC (17) | Veterinary hospital operator | First lien senior secured revolving loan | 1/20/2021 | — | — | (15) | |||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($23.7 par due 1/2027) | 6.50% (Libor + 5.50%/M) | 1/20/2021 | 23.7 | 23.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($11.6 par due 1/2027) | 6.50% (Libor + 5.50%/M) | 1/20/2021 | 11.6 | 11.6 | (13) | ||||||||||||||||||||||||||||||||||||||||||
35.3 | 35.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Project Ruby Ultimate Parent Corp. | Provider of care coordination and transition management software solutions | Second lien senior secured loan ($193.1 par due 3/2029) | 7.25% (Libor + 6.50%/M) | 3/10/2021 | 193.1 | 193.1 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
WSHP FC Acquisition LLC (17) | Provider of biospecimen products for pharma research | First lien senior secured revolving loan ($2.7 par due 3/2024) | 7.25% (Libor + 6.25%/Q) | 3/30/2018 | 2.7 | 2.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($33.5 par due 3/2024) | 7.25% (Libor + 6.25%/Q) | 3/30/2018 | 33.5 | 33.5 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($4.6 par due 3/2024) | 7.25% (Libor + 6.25%/Q) | 2/11/2019 | 4.6 | 4.6 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($8.6 par due 3/2024) | 7.25% (Libor + 6.25%/Q) | 8/30/2019 | 8.6 | 8.6 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($2.9 par due 3/2024) | 7.25% (Libor + 6.25%/Q) | 8/30/2019 | 2.9 | 2.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($10.9 par due 3/2024) | 7.25% (Libor + 6.25%/Q) | 10/31/2019 | 10.9 | 10.9 | (13) | ||||||||||||||||||||||||||||||||||||||||||
63.2 | 63.2 | ||||||||||||||||||||||||||||||||||||||||||||||
2,101.9 | 2,117.0 | 24.80 | % | ||||||||||||||||||||||||||||||||||||||||||||
Commercial & Professional Services | |||||||||||||||||||||||||||||||||||||||||||||||
Accommodations Plus Technologies LLC and Accommodations Plus Technologies Holdings LLC (17) | Provider of outsourced crew accommodations and logistics management solutions to the airline industry | First lien senior secured revolving loan ($4.1 par due 5/2023) | 10.00% (Libor + 9.00%/Q) | 5/11/2018 | 4.1 | 3.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Class A common units (236,358 units) | 5/11/2018 | 4.3 | 4.1 | ||||||||||||||||||||||||||||||||||||||||||||
8.4 | 8.0 | ||||||||||||||||||||||||||||||||||||||||||||||
Aero Operating LLC | Provider of snow removal and melting service for airports and marine terminals | First lien senior secured loan ($36.7 par due 2/2026) | 8.00% (Libor + 6.50%/M) | 2/7/2020 | 36.7 | 36.7 | (13) | ||||||||||||||||||||||||||||||||||||||||
AMCP Clean Intermediate, LLC (17) | Provider of janitorial and facilities management services | First lien senior secured revolving loan | 10/1/2018 | — | — | (15) | |||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.3 par due 10/2024) | 7.00% (Libor + 6.00%/Q) | 7/31/2020 | 1.3 | 1.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.7 par due 10/2024) | 7.00% (Libor + 6.00%/Q) | 10/1/2020 | 0.7 | 0.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($8.6 par due 10/2024) | 7.00% (Libor + 6.00%/Q) | 12/14/2020 | 8.6 | 8.6 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
10.6 | 10.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Capstone Acquisition Holdings, Inc. and Capstone Parent Holdings, LP (17) | Outsourced supply chain solutions provider to operators of distribution centers | First lien senior secured revolving loan ($2.3 par due 11/2025) | 7.00% (Base Rate + 3.75%/Q) | 11/12/2020 | 2.3 | 2.3 | (2)(13)(16) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.3 par due 11/2027) | 5.75% (Libor + 4.75%/M) | 11/12/2020 | 0.3 | 0.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($68.3 par due 11/2028) | 9.75% (Libor + 8.75%/M) | 11/12/2020 | 68.3 | 68.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Class A units (10,581 units) | 11/12/2020 | 10.6 | 13.2 | (2) | |||||||||||||||||||||||||||||||||||||||||||
81.5 | 84.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Cozzini Bros., Inc. and BH-Sharp Holdings LP (17) | Provider of commercial knife sharpening and cutlery services in the restaurant industry | First lien senior secured loan ($12.3 par due 3/2023) | 8.50% (Libor + 3.00% Cash, 4.50% PIK/S) | 3/10/2017 | 12.3 | 11.1 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Common units (2,950,000 units) | 3/10/2017 | 3.0 | 1.1 | (2) | |||||||||||||||||||||||||||||||||||||||||||
15.3 | 12.2 | ||||||||||||||||||||||||||||||||||||||||||||||
DTI Holdco, Inc. and OPE DTI Holdings, Inc. (17) | Provider of legal process outsourcing and managed services | First lien senior secured revolving loan ($0.4 par due 6/2023) | 6.75% (Base Rate + 3.50%/Q) | 9/23/2016 | 0.4 | 0.4 | (2)(16) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
PowerPlan, Inc. and Project Torque Ultimate Parent Corporation | Fixed asset financial management software provider | Second lien senior secured loan ($30.0 par due 2/2023) | 10.24% (Libor + 9.00%/Q) | 2/23/2015 | 29.8 | 30.0 | (2)(16) | |||||||||||||
Second lien senior secured loan ($50.0 par due 2/2023) | 10.24% (Libor + 9.00%/Q) | 2/23/2015 | 49.7 | 50.0 | (3)(16) | |||||||||||||||
Class A common stock (1,697 shares) | 2/23/2015 | 1.7 | 2.5 | (2) | ||||||||||||||||
Class B common stock (989,011 shares) | 2/23/2015 | — | — | (2) | ||||||||||||||||
81.2 | 82.5 | |||||||||||||||||||
Project Alpha Intermediate Holding, Inc. and Qlik Parent, Inc. | Provider of data visualization software for data analytics | Class A common shares (7,444.80 shares) | 8/22/2016 | 7.4 | 8.8 | (2) | ||||||||||||||
Class B common shares (1,841,608.69 shares) | 8/22/2016 | 0.1 | 0.1 | (2) | ||||||||||||||||
7.5 | 8.9 | |||||||||||||||||||
R2 Acquisition Corp. | Marketing services | Common stock (250,000 shares) | 5/29/2007 | 0.2 | 0.3 | (2) | ||||||||||||||
Rocket Fuel Inc. | Provider of open and integrated software for digital marketing optimization | Common stock (11,405 units) | 9/9/2014 | — | — | (2)(23) | ||||||||||||||
SCM Insurance Services Inc. (20) | Provider of claims management, claims investigation & support and risk management solutions for the Canadian property and casualty insurance industry | First lien senior secured loan ($21.6 par due 8/2024) | 6.67% (Libor + 5.00%/Q) | 8/29/2017 | 21.5 | 21.4 | (2)(16) | |||||||||||||
Second lien senior secured loan ($60.9 par due 3/2025) | 10.66% (Libor + 9.00%/Q) | 8/29/2017 | 60.5 | 60.3 | (2)(16) | |||||||||||||||
82.0 | 81.7 | |||||||||||||||||||
Shift PPC LLC (20) | Digital solutions provider | First lien senior secured loan ($10.1 par due 12/2021) | 7.33% (Libor + 6.00%/Q) | 12/22/2016 | 10.1 | 10.1 | (4)(16) | |||||||||||||
Sonian Inc. | Cloud-based email archiving platform | First lien senior secured loan ($7.5 par due 6/2020) | 8.87% (Libor + 7.65%/M) | 9/9/2015 | 7.4 | 7.5 | (5)(14)(16) | |||||||||||||
Warrant to purchase up to 169,045 shares of Series C preferred stock (expires 9/2022) | 9/9/2015 | 0.1 | 0.1 | (5) | ||||||||||||||||
7.5 | 7.6 | |||||||||||||||||||
Sparta Systems, Inc., Project Silverback Holdings Corp. and Silverback Holdings, Inc. (20) | Quality management software provider | Second lien senior secured loan ($20.0 par due 8/2025) | 9.58% (Libor + 8.25%/Q) | 8/21/2017 | 19.6 | 19.8 | (2)(16) | |||||||||||||
Series B preferred shares (10,084 shares) | 8/21/2017 | 1.1 | 1.0 | |||||||||||||||||
20.7 | 20.8 | |||||||||||||||||||
Talari Networks, Inc. | Networking equipment provider | First lien senior secured loan ($6.0 par due 10/2019) | 10.06% (Libor + 8.75%/M) | 8/3/2015 | 6.0 | 5.7 | (5)(16) | |||||||||||||
Warrant to purchase up to 421,052 shares of Series D-1 preferred stock (expires 8/2022) | 8/3/2015 | 0.1 | 0.1 | (5) | ||||||||||||||||
6.1 | 5.8 | |||||||||||||||||||
The Gordian Group, Inc. (20) | Construction software and service provider | First lien senior secured loan ($19.0 par due 7/2019) | 6.06% (Libor + 4.75%/Q) | 1/3/2017 | 18.7 | 19.0 | (3)(16) | |||||||||||||
First lien senior secured loan ($6.4 par due 7/2019) | 6.06% (Libor + 4.75%/Q) | 1/3/2017 | 6.3 | 6.4 | (4)(16) | |||||||||||||||
First lien senior secured loan ($9.4 par due 7/2019) | 6.08% (Libor + 4.75%/Q) | 1/3/2017 | 9.3 | 9.4 | (3)(16) | |||||||||||||||
First lien senior secured loan ($3.2 par due 7/2019) | 6.08% (Libor + 4.75%/Q) | 1/3/2017 | 3.1 | 3.2 | (4)(16) | |||||||||||||||
37.4 | 38.0 | |||||||||||||||||||
The Greeley Company, Inc. and HCP Acquisition Holdings, LLC (8) | Healthcare compliance advisory services | Senior subordinated loan ($10.5 par due 3/2018) | 3/5/2013 | — | — | (2)(15) | ||||||||||||||
Class A units (14,293,110 units) | 6/26/2008 | — | — | (2) | ||||||||||||||||
— | — |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured revolving loan ($4.8 par due 6/2023) | 4.62% (Libor + 4.50%/Q) | 9/23/2016 | 4.8 | 4.7 | (2)(16) | ||||||||||||||||||||||||||||||||||||||||||
Class A common stock (7,500 shares) | 8/19/2014 | 7.5 | 2.6 | (2) | |||||||||||||||||||||||||||||||||||||||||||
Class B common stock (7,500 shares) | 8/19/2014 | — | — | (2) | |||||||||||||||||||||||||||||||||||||||||||
12.7 | 7.7 | ||||||||||||||||||||||||||||||||||||||||||||||
Elevation Services Parent Holdings, LLC | Elevator service platform | First lien senior secured loan ($20.4 par due 12/2026) | 6.50% (Libor + 5.50%/Q) | 12/18/2020 | 20.4 | 20.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
HAI Acquisition Corporation and Aloha Topco, LLC (17) | Professional employer organization offering human resources, compliance and risk management services | First lien senior secured loan ($61.2 par due 11/2025) | 6.50% (Libor + 5.50%/M) | 11/1/2017 | 61.2 | 61.2 | (13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($27.1 par due 11/2025) | 6.00% (Libor + 5.25%/Q) | 9/28/2021 | 27.1 | 27.1 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Class A units (16,980 units) | 11/1/2017 | 1.7 | 2.3 | (2) | |||||||||||||||||||||||||||||||||||||||||||
90.0 | 90.6 | ||||||||||||||||||||||||||||||||||||||||||||||
HH-Stella, Inc. and Bedrock Parent Holdings, LP (17) | Provider of municipal solid waste transfer management services | First lien senior secured revolving loan ($0.5 par due 4/2027) | 6.50% (Libor + 5.50%/Q) | 4/22/2021 | 0.5 | 0.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.8 par due 4/2028) | 6.50% (Libor + 5.50%/Q) | 4/22/2021 | 1.8 | 1.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Class A units (25,490 units) | 4/22/2021 | 2.5 | 2.8 | (2) | |||||||||||||||||||||||||||||||||||||||||||
4.8 | 5.1 | ||||||||||||||||||||||||||||||||||||||||||||||
IRI Holdings, Inc., IRI Group Holdings, Inc. and IRI Parent, L.P. | Market research company focused on the consumer packaged goods industry | First lien senior secured loan ($42.4 par due 12/2025) | 4.33% (Libor + 4.25%/M) | 11/30/2018 | 42.0 | 42.4 | |||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($86.8 par due 11/2026) | 8.08% (Libor + 8.00%/M) | 11/30/2018 | 85.8 | 86.8 | (2) | ||||||||||||||||||||||||||||||||||||||||||
Series A-1 preferred shares (46,900 shares) | 11.50% PIK (Libor + 10.50% PIK/Q) | 11/30/2018 | 65.3 | 66.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Class A-1 common units (90,500 units) | 11/30/2018 | 9.1 | 23.9 | (2) | |||||||||||||||||||||||||||||||||||||||||||
202.2 | 219.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Kellermeyer Bergensons Services, LLC (17) | Provider of janitorial and facilities management services | First lien senior secured loan ($13.1 par due 11/2026) | 6.75% (Libor + 5.75%/Q) | 11/7/2019 | 13.1 | 13.1 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($36.3 par due 11/2026) | 6.75% (Libor + 5.75%/Q) | 11/7/2019 | 36.0 | 36.3 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($59.9 par due 11/2026) | 6.75% (Libor + 5.75%/Q) | 7/2/2021 | 59.9 | 59.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
109.0 | 109.3 | ||||||||||||||||||||||||||||||||||||||||||||||
KPS Global LLC and Cool Group LLC | Manufacturer of walk-in cooler and freezer systems | First lien senior secured loan ($12.6 par due 4/2024) | 7.00% (Libor + 6.00%/M) | 4/5/2017 | 12.6 | 12.5 | (13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($3.4 par due 4/2024) | 7.00% (Libor + 6.00%/M) | 11/16/2018 | 3.4 | 3.4 | (13) | ||||||||||||||||||||||||||||||||||||||||||
Class A units (13,292 units) | 9/21/2018 | 1.1 | 1.2 | ||||||||||||||||||||||||||||||||||||||||||||
17.1 | 17.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Laboratories Bidco LLC and Laboratories Topco LLC (17) | Lab testing services for nicotine containing products | First lien senior secured loan ($45.5 par due 7/2027) | 6.75% (Libor + 5.75%/Q) | 7/23/2021 | 45.5 | 45.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($29.3 par due 6/2024) | 6.75% (Libor + 5.75%/Q) | 10/4/2019 | 29.3 | 29.3 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($25.5 par due 6/2024) | 6.75% (CDOR + 5.75%/Q) | 10/4/2019 | 24.3 | 25.5 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($20.7 par due 6/2024) | 6.75% (Libor + 5.75%/Q) | 10/30/2020 | 20.7 | 20.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Class A units (3,099,335 units) | 7/23/2021 | 4.6 | 4.6 | (2) | |||||||||||||||||||||||||||||||||||||||||||
124.4 | 125.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Lakers Buyer, Inc. and Lakers Parent LLC (17) | Provider of fire safety and life safety services | First lien senior secured revolving loan ($2.2 par due 3/2027) | 6.75% (Libor + 5.75%/Q) | 3/22/2021 | 2.2 | 2.2 | (2)(13) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
TraceLink, Inc. | Supply chain management software provider for the pharmaceutical industry | Warrant to purchase up to 283,353 shares of Series A-2 preferred stock (expires 1/2025) | 1/2/2015 | 0.1 | 1.8 | (2) | ||||||||||||||
UL Holding Co., LLC (7) | Provider of collection and landfill avoidance solutions for food waste and unsold food products | Senior subordinated loan ($6.0 par due 5/2020) | 10.00% PIK | 4/30/2012 | 1.8 | 6.0 | (2) | |||||||||||||
Senior subordinated loan ($0.5 par due 5/2020) | 4/30/2012 | 0.1 | 0.5 | (2) | ||||||||||||||||
Senior subordinated loan ($23.9 par due 5/2020) | 10.00% PIK | 4/30/2012 | 7.0 | 23.9 | (2) | |||||||||||||||
Senior subordinated loan ($3.8 par due 5/2020) | 4/30/2012 | 1.1 | 3.8 | (2) | ||||||||||||||||
Senior subordinated loan ($2.8 par due 5/2020) | 10.00% PIK | 4/30/2012 | 0.8 | 2.8 | (2) | |||||||||||||||
Senior subordinated loan ($0.4 par due 5/2020) | 4/30/2012 | 0.1 | 0.4 | (2) | ||||||||||||||||
Class A common units (533,351 units) | 6/17/2011 | 5.0 | 2.7 | (2) | ||||||||||||||||
Class B-5 common units (272,834 units) | 6/17/2011 | 2.5 | 1.4 | (2) | ||||||||||||||||
Class C common units (758,546 units) | 4/25/2008 | — | — | (2) | ||||||||||||||||
Warrant to purchase up to 719,044 shares of Class A units | 5/2/2014 | — | — | (2) | ||||||||||||||||
Warrant to purchase up to 28,663 shares of Class B-1 units | 5/2/2014 | — | — | (2) | ||||||||||||||||
Warrant to purchase up to 57,325 shares of Class B-2 units | 5/2/2014 | — | — | (2) | ||||||||||||||||
Warrant to purchase up to 29,645 shares of Class B-3 units | 5/2/2014 | — | — | (2) | ||||||||||||||||
Warrant to purchase up to 80,371 shares of Class B-5 units | 5/2/2014 | — | — | (2) | ||||||||||||||||
Warrant to purchase up to 59,655 shares of Class B-6 units | 5/2/2014 | — | — | (2) | ||||||||||||||||
Warrant to purchase up to 1,046,713 shares of Class C units | 5/2/2014 | — | — | (2) | ||||||||||||||||
18.4 | 41.5 | |||||||||||||||||||
Velocity Holdings Corp. | Hosted enterprise resource planning application management services provider | Common units (1,713,546 units) | 12/13/2013 | 4.5 | 2.7 | |||||||||||||||
Visual Edge Technology, Inc. (20) | Provider of outsourced office solutions with a focus on printer and copier equipment and other parts and supplies | First lien senior secured loan ($2.0 par due 8/2022) | 7.08% (Libor + 5.75%/Q) | 8/31/2017 | 2.0 | 2.0 | (2)(16) | |||||||||||||
First lien senior secured loan ($13.0 par due 8/2022) | 7.07% (Libor + 5.75%/Q) | 8/31/2017 | 13.0 | 12.9 | (2)(16) | |||||||||||||||
Senior subordinated loan ($40.2 par due 9/2024) | 12.50% PIK | 8/31/2017 | 36.2 | 37.6 | (2) | |||||||||||||||
Warrant to purchase up to 1,816,089 shares of common stock (expires 8/2027) | 8/31/2017 | — | — | (2) | ||||||||||||||||
Warrant to purchase up to 2,070,511 shares of preferred stock (expires 8/2027) | 8/31/2017 | 4.1 | 4.1 | (2) | ||||||||||||||||
55.3 | 56.6 | |||||||||||||||||||
VRC Companies, LLC (20) | Provider of records and information management services | First lien senior secured revolving loan ($0.1 par due 3/2022) | 7.92% (Libor + 6.50%/Q) | 4/17/2017 | 0.1 | — | (2)(16) | |||||||||||||
First lien senior secured revolving loan ($0.5 par due 3/2022) | 9.75% (Base Rate + 5.50%/Q) | 4/17/2017 | 0.5 | 0.5 | (2)(16) | |||||||||||||||
First lien senior secured loan ($0.2 par due 3/2023) | 7.92% (Libor + 6.50%/Q) | 4/17/2017 | 0.2 | 0.2 | (2)(16) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($80.4 par due 3/2027) | 6.75% (Libor + 5.75%/Q) | 3/22/2021 | 80.4 | 80.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($39.0 par due 9/2027) | 11.75% PIK (Libor + 10.75% PIK/Q) | 3/22/2021 | 39.0 | 39.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Common units (46,990 units) | 3/22/2021 | 4.7 | 6.5 | (2) | |||||||||||||||||||||||||||||||||||||||||||
126.3 | 128.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Marmic Purchaser, LLC and Marmic Topco, L.P. (17) | Provider of recurring fire protection services | First lien senior secured revolving loan | 3/5/2021 | — | — | (15) | |||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($25.4 par due 3/2027) | 7.00% (Libor + 6.00%/Q) | 3/5/2021 | 25.4 | 25.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Limited partnership units (1,674,000 units) | 8.00% PIK | 3/5/2021 | 1.8 | 1.9 | (2) | ||||||||||||||||||||||||||||||||||||||||||
27.2 | 27.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Microstar Logistics LLC, Microstar Global Asset Management LLC, MStar Holding Corporation and Kegstar USA Inc. | Keg management solutions provider | Second lien senior secured loan ($149.7 par due 7/2023) | 10.00% PIK (Libor + 9.00%/S) | 8/13/2020 | 149.7 | 142.2 | (13) | ||||||||||||||||||||||||||||||||||||||||
Series A preferred stock (1,507 shares) | 8/13/2020 | 1.5 | 1.8 | (2) | |||||||||||||||||||||||||||||||||||||||||||
Common stock (54,710 shares) | 12/14/2012 | 4.9 | 3.3 | (2) | |||||||||||||||||||||||||||||||||||||||||||
156.1 | 147.3 | ||||||||||||||||||||||||||||||||||||||||||||||
NAS, LLC and Nationwide Marketing Group, LLC (17) | Buying and marketing services organization for appliance, furniture and consumer electronics dealers | First lien senior secured loan ($6.4 par due 6/2024) | 7.50% (Libor + 6.50%/Q) | 11/3/2020 | 6.4 | 6.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Nest Topco Borrower Inc. and KKR Nest Co-Invest L.P. (17) | Operator of multiple franchise concepts primarily related to home maintenance or repairs | Senior subordinated loan ($119.1 par due 8/2029) | 9.00% (Libor + 8.50%/Q) | 9/1/2021 | 119.1 | 117.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Limited partner interest (9,725,000 interests) | 9/28/2021 | 9.7 | 9.7 | (2) | |||||||||||||||||||||||||||||||||||||||||||
128.8 | 127.6 | ||||||||||||||||||||||||||||||||||||||||||||||
NM GRC Holdco, LLC | Regulatory compliance services provider to financial institutions | First lien senior secured loan ($35.7 par due 2/2024) | 8.50% (Libor + 6.00% Cash, 1.50% PIK/Q) | 2/9/2018 | 35.6 | 35.7 | (13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($9.5 par due 2/2024) | 8.50% (Libor + 6.00% Cash, 1.50% PIK/Q) | 2/9/2018 | 9.5 | 9.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
45.1 | 45.2 | ||||||||||||||||||||||||||||||||||||||||||||||
North American Fire Holdings, LLC and North American Fire Ultimate Holdings, LLC (17) | Provider of fire safety and life safety services | First lien senior secured loan ($20.1 par due 5/2027) | 7.00% (Libor + 6.00%/Q) | 5/19/2021 | 20.1 | 19.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Common units (649,000 units) | 5/19/2021 | 0.6 | 0.6 | (2) | |||||||||||||||||||||||||||||||||||||||||||
20.7 | 20.5 | ||||||||||||||||||||||||||||||||||||||||||||||
North Haven Stack Buyer, LLC (17) | Provider of environmental testing services | First lien senior secured revolving loan ($0.2 par due 7/2027) | 6.50% (Libor + 5.50%/Q) | 7/15/2021 | 0.2 | 0.2 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($10.8 par due 7/2027) | 6.50% (Libor + 5.50%/Q) | 7/15/2021 | 10.6 | 10.7 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.3 par due 7/2027) | 6.50% (Libor + 5.50%/Q) | 7/15/2021 | 0.2 | 0.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
11.0 | 11.2 | ||||||||||||||||||||||||||||||||||||||||||||||
Petroleum Service Group LLC (17) | Provider of operational services for US petrochemical and refining companies | First lien senior secured revolving loan | 7/23/2019 | — | — | (15) | |||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($34.3 par due 7/2025) | 6.25% (Libor + 5.25%/Q) | 7/23/2019 | 34.3 | 34.3 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.7 par due 7/2025) | 6.25% (Libor + 5.25%/M) | 7/23/2019 | 0.7 | 0.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
35.0 | 35.0 | ||||||||||||||||||||||||||||||||||||||||||||||
QC Supply, LLC (17) | Specialty distributor and solutions provider to the swine and poultry markets | First lien senior secured revolving loan ($8.7 par due 12/2021) | 12/29/2016 | 8.6 | 4.6 | (2)(12)(16) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
First lien senior secured loan ($0.5 par due 3/2023) | 7.81% (Libor + 6.50%/Q) | 4/17/2017 | 0.5 | 0.4 | (2)(16) | |||||||||||||||
First lien senior secured loan ($0.1 par due 3/2023) | 7.93% (Libor + 6.50%/Q) | 4/17/2017 | 0.1 | 0.1 | (2)(16) | |||||||||||||||
First lien senior secured loan ($0.2 par due 3/2023) | 9.75% (Base Rate + 5.50%/Q) | 4/17/2017 | 0.2 | 0.2 | (2)(16) | |||||||||||||||
First lien senior secured loan ($5.5 par due 3/2023) | 7.74% (Libor + 6.50%/Q) | 4/17/2017 | 5.5 | 5.5 | (2)(16) | |||||||||||||||
7.1 | 6.9 | |||||||||||||||||||
WorldPay Group PLC (9) | Payment processing company | C2 shares (73,974 shares) | 10/21/2015 | — | — | (23) | ||||||||||||||
Zywave, Inc. (20) | Provider of software and technology-enabled content and analytical solutions to insurance brokers | Second lien senior secured loan ($27.0 par due 11/2023) | 10.31% (Libor + 9.00%/Q) | 11/17/2016 | 27.0 | 27.0 | (2)(16) | |||||||||||||
2,138.6 | 2,168.3 | 30.85 | % | |||||||||||||||||
Consumer Products | ||||||||||||||||||||
Badger Sportswear Acquisition, Inc. | Provider of team uniforms and athletic wear | Second lien senior secured loan ($50.0 par due 3/2024) | 10.30% (Libor + 9.00%/Q) | 9/6/2016 | 49.9 | 49.5 | (2)(16) | |||||||||||||
BRG Sports, Inc. | Designer, manufacturer and licensor of branded sporting goods | Preferred stock (2,009 shares) | 1/3/2017 | — | — | |||||||||||||||
Common stock (6,566,655 shares) | 1/3/2017 | — | 0.4 | |||||||||||||||||
— | 0.4 | |||||||||||||||||||
Feradyne Outdoors, LLC and Bowhunter Holdings, LLC | Provider of branded archery and bowhunting accessories | Common units (421 units) | 4/24/2014 | 4.2 | 1.3 | (2) | ||||||||||||||
Implus Footcare, LLC | Provider of footwear and other accessories | First lien senior secured loan ($14.6 par due 4/2021) | 8.04% (Libor + 6.75%/Q) | 6/1/2017 | 14.6 | 14.6 | (2)(16) | |||||||||||||
First lien senior secured loan ($77.7 par due 4/2021) | 8.08% (Libor + 6.75%/Q) | 6/1/2017 | 77.7 | 77.7 | (2)(16) | |||||||||||||||
First lien senior secured loan ($19.9 par due 4/2021) | 8.08% (Libor + 6.75%/Q) | 6/1/2017 | 19.9 | 19.9 | (4)(16) | |||||||||||||||
112.2 | 112.2 | |||||||||||||||||||
Indra Holdings Corp. | Designer, marketer, and distributor of rain and cold weather products | Second lien senior secured loan ($80.0 par due 11/2021) | 5/1/2014 | 78.7 | 50.8 | (2)(15) | ||||||||||||||
Plantation Products, LLC, Seed Holdings, Inc. and Flora Parent, Inc. | Provider of branded lawn and garden products | Second lien senior secured loan ($2.0 par due 6/2021) | 9.26% (Libor + 7.99%/Q) | 12/23/2014 | 2.0 | 2.0 | (2)(16) | |||||||||||||
Second lien senior secured loan ($54.0 par due 6/2021) | 9.26% (Libor + 7.99%/Q) | 12/23/2014 | 53.8 | 54.0 | (3)(16) | |||||||||||||||
Second lien senior secured loan ($10.0 par due 6/2021) | 9.26% (Libor + 7.99%/Q) | 12/23/2014 | 10.0 | 10.0 | (4)(16) | |||||||||||||||
Common stock (30,000 shares) | 12/23/2014 | 3.0 | 5.5 | (2) | ||||||||||||||||
68.8 | 71.5 | |||||||||||||||||||
Rug Doctor, LLC and RD Holdco Inc. (8) | Manufacturer and marketer of carpet cleaning machines | Second lien senior secured loan ($16.9 par due 12/2018) | 11.25% (Libor + 9.75%/Q) | 1/3/2017 | 16.9 | 16.9 | (2)(16) | |||||||||||||
Common stock (458,596 shares) | 1/3/2017 | 14.0 | 9.3 | |||||||||||||||||
Warrant to purchase up to 56,372 shares of common stock (expires 12/2023) | 1/3/2017 | — | — | |||||||||||||||||
30.9 | 26.2 | |||||||||||||||||||
S Toys Holdings LLC (fka The Step2 Company, LLC) (8) | Toy manufacturer | Common units (1,116,879 units) | 4/1/2011 | — | 0.5 | |||||||||||||||
Class B common units (126,278,000 units) | 10/30/2014 | — | — | (2) | ||||||||||||||||
Warrant to purchase up to 3,157,895 units | 4/1/2010 | — | — | |||||||||||||||||
— | 0.5 | |||||||||||||||||||
SHO Holding I Corporation | Manufacturer and distributor of slip resistant footwear | Second lien senior secured loan ($100.0 par due 4/2023) | 9.74% (Libor + 8.50%/Q) | 10/27/2015 | 98.1 | 96.0 | (2)(16) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($34.4 par due 12/2022) | 12/29/2016 | 33.9 | 18.2 | (2)(12) | |||||||||||||||||||||||||||||||||||||||||||
42.5 | 22.8 | ||||||||||||||||||||||||||||||||||||||||||||||
R2 Acquisition Corp. | Marketing services | Common stock (250,000 shares) | 5/29/2007 | 0.3 | 0.5 | (2) | |||||||||||||||||||||||||||||||||||||||||
RC V Tecmo Investor LLC | Technology based aggregator for facility maintenance services | Common member units (9,624,000 units) | 8/14/2020 | 8.3 | 19.4 | (2) | |||||||||||||||||||||||||||||||||||||||||
RE Community Holdings GP, LLC and RE Community Holdings, LP | Operator of municipal recycling facilities | Limited partnership interest (2.86% interest) | 3/1/2011 | — | — | (2) | |||||||||||||||||||||||||||||||||||||||||
Registrar Intermediate, LLC and PSP Registrar Co-Investment Fund, L.P. (17) | Provider of FDA registration and consulting services | First lien senior secured loan ($37.9 par due 8/2027) | 6.50% (Libor + 5.50%/Q) | 8/26/2021 | 37.9 | 37.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Limited partner interests (1.13% interest) | 8/26/2021 | 2.7 | 2.6 | (2) | |||||||||||||||||||||||||||||||||||||||||||
40.6 | 40.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Rodeo AcquisitionCo LLC (17) | Provider of food inspection and recovery services | First lien senior secured revolving loan ($0.5 par due 7/2027) | 7.00% (Libor + 6.00%/Q) | 7/26/2021 | 0.5 | 0.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($17.1 par due 7/2027) | 7.00% (Libor + 6.00%/Q) | 7/26/2021 | 17.1 | 16.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
17.6 | 17.4 | ||||||||||||||||||||||||||||||||||||||||||||||
SSE Buyer, Inc., Supply Source Enterprises, Inc., Impact Products LLC, The Safety Zone, LLC and SSE Parent, LP (17) | Manufacturer and distributor of personal protection equipment, commercial cleaning, maintenance and safety products | First lien senior secured loan ($21.5 par due 6/2026) | 10.22% (Libor + 9.22%/Q) | 6/30/2020 | 21.5 | 20.2 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Limited partnership class A-1 units (2,173 units) | 6/30/2020 | 1.1 | 0.7 | (2) | |||||||||||||||||||||||||||||||||||||||||||
Limited partnership class A-2 units (2,173 units) | 6/30/2020 | 1.1 | 0.7 | (2) | |||||||||||||||||||||||||||||||||||||||||||
23.7 | 21.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Startec Equity, LLC (5) | Communication services | Member interest | 4/1/2010 | — | — | ||||||||||||||||||||||||||||||||||||||||||
Stealth Holding LLC and UCIT Online Security Inc. (17) | Live video monitoring solutions provider | First lien senior secured loan ($26.4 par due 3/2026) | 7.75% (Libor + 6.75%/Q) | 3/1/2021 | 26.4 | 26.4 | (6)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.8 par due 3/2026) | 9.00% (Base Rate + 5.75%/Q) | 3/1/2021 | 0.8 | 0.8 | (2)(6)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($19.9 par due 3/2026) | 7.75% (Libor + 6.75%/Q) | 3/1/2021 | 19.9 | 19.9 | (2)(6)(13) | ||||||||||||||||||||||||||||||||||||||||||
47.1 | 47.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Thermostat Purchaser III, Inc. (17) | Provider of commercial HVAC equipment maintenance and repair services | Second lien senior secured loan ($23.0 par due 8/2029) | 8.00% (Libor + 7.25%/Q) | 8/31/2021 | 23.0 | 22.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Tyden Group Holding Corp. | Producer and marketer of global cargo security, product identification and traceability products and utility meter products | Preferred stock (46,276 shares) | 1/3/2017 | 0.4 | 0.7 | (6) | |||||||||||||||||||||||||||||||||||||||||
Common stock (5,521,203 shares) | 1/3/2017 | 2.0 | 3.6 | (6) | |||||||||||||||||||||||||||||||||||||||||||
2.4 | 4.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Visual Edge Technology, Inc. | Provider of outsourced office solutions with a focus on printer and copier equipment and other parts and supplies | First lien senior secured loan ($32.5 par due 8/2022) | 8.50% (Libor + 5.75% Cash, 1.25% PIK/Q) | 8/31/2017 | 32.5 | 31.2 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Senior subordinated loan ($85.1 par due 9/2024) | 16.00% PIK | 8/31/2017 | 83.4 | 78.3 | (2) | ||||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 10,358,572 shares of common stock (expires 8/2027) | 8/31/2017 | 3.9 | — | (2) | |||||||||||||||||||||||||||||||||||||||||||
119.8 | 109.5 | ||||||||||||||||||||||||||||||||||||||||||||||
VLS Recovery Services, LLC (17) | Provider of commercial and industrial waste processing and disposal services | First lien senior secured revolving loan | 10/17/2017 | — | — | (15) | |||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($25.2 par due 10/2024) | 6.50% (Libor + 5.50%/Q) | 8/31/2021 | 25.2 | 25.2 | (2)(13) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
Shock Doctor, Inc. and Shock Doctor Holdings, LLC (7) | Developer, marketer and distributor of sports protection equipment and accessories | Second lien senior secured loan ($89.4 par due 10/2021) | 11.81% (Libor + 10.50%/Q) | 4/22/2015 | 89.4 | 82.3 | (2)(16) | |||||||||||||
Developer, marketer and distributor of sports protection equipment and accessories. | Class A preferred units (50,000 units) | 3/14/2014 | 5.0 | 2.0 | (2) | |||||||||||||||
Class C preferred units (50,000 units) | 4/22/2015 | 5.0 | 2.0 | (2) | ||||||||||||||||
99.4 | 86.3 | |||||||||||||||||||
Singer Sewing Company | Manufacturer of consumer sewing machines | First lien senior secured loan ($174.7 par due 10/2017) | 8.75% (Libor + 7.50%/Q) | 7/26/2017 | 174.7 | 166.0 | (2)(16) | |||||||||||||
Varsity Brands Holding Co., Inc., Hercules Achievement, Inc., Hercules Achievement Holdings, Inc. and Hercules VB Holdings, Inc. | Leading manufacturer and distributor of textiles, apparel & luxury goods | Second lien senior secured loan ($25.0 par due 12/2022) | 9.98% (Libor + 8.75%/Q) | 10/28/2016 | 25.0 | 25.0 | (2)(16) | |||||||||||||
Second lien senior secured loan ($1.6 par due 12/2022) | 9.99% (Libor + 8.75%/Q) | 12/11/2014 | 1.6 | 1.6 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($54.0 par due 12/2022) | 9.99% (Libor + 8.75%/Q) | 12/11/2014 | 53.6 | 54.0 | (3)(16) | |||||||||||||||
Second lien senior secured loan ($91.7 par due 12/2022) | 9.99% (Libor + 8.75%/Q) | 12/11/2014 | 91.1 | 91.7 | (2)(16) | |||||||||||||||
Common stock (3,353,371 shares) | 12/11/2014 | 3.4 | 4.8 | (2) | ||||||||||||||||
Common stock (3,353,371 shares) | 12/11/2014 | 4.1 | 4.8 | (2) | ||||||||||||||||
178.8 | 181.9 | |||||||||||||||||||
Wonder Holdings Acquisition Corp. | Developer and marketer of OTC healthcare products | Warrant to purchase up to 1,654,678 shares of common stock (expires 6/2021) | 7/27/2011 | — | 1.5 | (2) | ||||||||||||||
Woodstream Group, Inc. and Woodstream Corporation (20) | Pet products manufacturer | First lien senior secured loan ($2.0 par due 5/2022) | 7.57% (Libor + 6.25%/Q) | 6/21/2017 | 2.0 | 2.0 | (2)(16) | |||||||||||||
First lien senior secured loan ($6.2 par due 5/2022) | 7.58% (Libor + 6.25%/Q) | 6/21/2017 | 6.2 | 6.2 | (2)(16) | |||||||||||||||
8.2 | 8.2 | |||||||||||||||||||
903.9 | 852.3 | 12.13 | % | |||||||||||||||||
Investment Funds and Vehicles | ||||||||||||||||||||
ACAS Equity Holdings Corporation (8)(10) | Investment company | Common stock (589 shares) | 1/3/2017 | 0.5 | 0.4 | |||||||||||||||
Ares IIIR/IVR CLO Ltd. (8)(9)(10) | Investment vehicle | Subordinated notes ($20.0 par due 4/2021) | 1/3/2017 | — | 0.1 | |||||||||||||||
Babson CLO 2014-II (9)(10) | Investment vehicle | Subordinated notes ($25.0 par due 10/2026) | 18% | 1/3/2017 | 12.0 | 12.9 | ||||||||||||||
Blue Wolf Capital Fund II, L.P. (9)(10) | Investment partnership | Limited partnership interest (8.50% interest) | 1/3/2017 | 7.1 | 7.5 | (23) | ||||||||||||||
Carlyle Global Market Strategies CLO 2013-3 (9)(10) | Investment vehicle | Subordinated notes ($5.0 par due 7/2025) | 8.53% | 1/3/2017 | 2.6 | 2.5 | ||||||||||||||
Carlyle Global Market Strategies CLO 2015-3 (9)(10) | Investment vehicle | Subordinated notes ($24.6 par due 7/2028) | 10.75% | 1/3/2017 | 19.3 | 18.7 | ||||||||||||||
Cent CLO 2014-22 Limited (9)(10) | Investment vehicle | Subordinated notes ($45.4 par due 11/2026) | 11.75% | 1/3/2017 | 24.0 | 20.4 | ||||||||||||||
Cent CLO 2015-24 Limited (9)(10) | Investment vehicle | Subordinated notes ($28.0 par due 10/2026) | 8.5% | 1/3/2017 | 21.7 | 21.8 | ||||||||||||||
Centurion CDO 8 Limited (9)(10) | Investment vehicle | Subordinated notes ($5.0 par due 3/2019) | 1/3/2017 | — | — | |||||||||||||||
CoLTs 2005-1 Ltd. (9)(10) | Investment vehicle | Preferred shares (360 shares) | 1/3/2017 | — | — | |||||||||||||||
CoLTs 2005-2 Ltd. (9)(10) | Investment vehicle | Preferred shares (34,170,000 shares) | 1/3/2017 | — | — | |||||||||||||||
CREST Exeter Street Solar 2004-1 (9)(10) | Investment vehicle | Preferred shares (3,500,000 shares) | 1/3/2017 | — | — | |||||||||||||||
Eaton Vance CDO X plc (9)(10) | Investment vehicle | Subordinated notes ($15.0 par due 2/2027) | 5.25% | 1/3/2017 | 4.2 | 6.1 | ||||||||||||||
European Capital UK SME Debt LP (8)(9)(10)(21) | Investment partnership | Limited partnership interest (45% interest) | 1/3/2017 | 41.9 | 44.1 |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($8.8 par due 10/2024) | 6.50% (Libor + 5.50%/Q) | 7/1/2019 | 8.8 | 8.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
34.0 | 34.0 | ||||||||||||||||||||||||||||||||||||||||||||||
Wash Encore Holdings, LLC (17) | Provider of outsourced healthcare linen management solutions | First lien senior secured loan ($99.4 par due 7/2027) | 6.75% (Libor + 5.75%/Q) | 7/30/2021 | 99.4 | 98.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
WCI-HFG Holdings, LLC | Distributor of repair and replacement parts for commercial kitchen equipment | Preferred units (1,400,000 units) | 10/20/2015 | 1.4 | 2.0 | (2) | |||||||||||||||||||||||||||||||||||||||||
XIFIN, Inc. and ACP Charger Co-Invest LLC (17) | Revenue cycle management provider to labs | First lien senior secured loan ($40.4 par due 2/2026) | 6.75% (Libor + 5.75%/Q) | 7/20/2021 | 40.4 | 40.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Common stock (180,000 shares) | 2/6/2020 | 1.8 | 3.3 | (2) | |||||||||||||||||||||||||||||||||||||||||||
42.2 | 43.3 | ||||||||||||||||||||||||||||||||||||||||||||||
1,792.0 | 1,778.3 | 20.83 | % | ||||||||||||||||||||||||||||||||||||||||||||
Insurance Services | |||||||||||||||||||||||||||||||||||||||||||||||
Alera Group, Inc. (17) | Insurance service provider | First lien senior secured loan ($201.4 par due 10/2028) | 6.25% (Libor + 5.50%/M) | 9/30/2021 | 201.4 | 199.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Amynta Agency Borrower Inc. and Amynta Warranty Borrower Inc. | Insurance service provider | First lien senior secured loan ($1.0 par due 2/2025) | 4.58% (Libor + 4.50%/M) | 12/21/2018 | 1.0 | 1.0 | (2) | ||||||||||||||||||||||||||||||||||||||||
AQ Sunshine, Inc. (17) | Specialized insurance broker | First lien senior secured revolving loan ($0.3 par due 4/2024) | 7.00% (Libor + 6.00%/Q) | 4/15/2019 | 0.3 | 0.3 | (2)(13)(16) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($8.6 par due 4/2025) | 7.00% (Libor + 6.00%/Q) | 4/15/2019 | 8.6 | 8.6 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($25.7 par due 4/2025) | 7.00% (Libor + 6.00%/Q) | 10/29/2020 | 25.7 | 25.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($7.9 par due 4/2025) | 7.00% (Libor + 6.00%/Q) | 6/28/2021 | 7.9 | 7.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
42.5 | 42.5 | ||||||||||||||||||||||||||||||||||||||||||||||
Ardonagh Midco 2 plc and Ardonagh Midco 3 plc (17) | Insurance broker and underwriting servicer | First lien senior secured loan ($69.2 par due 7/2026) | 8.21% (GBP GBP Libor + 5.50% Cash, 2.26% PIK/Q) | 6/26/2020 | 64.7 | 69.2 | (2)(6)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($2.4 par due 7/2026) | 8.46% (GBP GBP Libor + 5.50% Cash, 2.21% PIK/S) | 6/26/2020 | 2.5 | 2.4 | (2)(6)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($12.1 par due 7/2026) | 8.46% (GBP Libor + 5.45% Cash, 2.26% PIK) | 6/26/2020 | 12.3 | 12.1 | (2)(6)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($7.6 par due 7/2026) | 8.46% (Euribor + 5.50% Cash, 2.21% PIK/Q) | 6/26/2020 | 7.5 | 7.6 | (2)(6)(13) | ||||||||||||||||||||||||||||||||||||||||||
Senior subordinated loan ($1.3 par due 1/2027) | 11.50% PIK | 6/26/2020 | 1.2 | 1.4 | (2)(6)(20) | ||||||||||||||||||||||||||||||||||||||||||
88.2 | 92.7 | ||||||||||||||||||||||||||||||||||||||||||||||
Benecon Midco II LLC and Locutus Holdco LLC (17) | Employee benefits provider for small and mid-size employers | Common units (9,803,682 units) | 12/4/2020 | 10.0 | 14.1 | ||||||||||||||||||||||||||||||||||||||||||
Benefytt Technologies, Inc. (17) | Health insurance sales platform provider | First lien senior secured loan ($23.4 par due 8/2027) | 6.75% (Libor + 6.00%/Q) | 8/12/2021 | 23.4 | 23.2 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Foundation Risk Partners, Corp. (17) | Full service independent insurance agency | First lien senior secured loan ($25.6 par due 11/2023) | 5.75% (Libor + 4.75%/Q) | 8/30/2019 | 25.6 | 25.6 | (13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($18.3 par due 11/2023) | 5.75% (Libor + 4.75%/Q) | 12/30/2020 | 18.3 | 18.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($40.8 par due 11/2024) | 9.50% (Libor + 8.50%/Q) | 8/9/2018 | 40.8 | 40.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($27.4 par due 11/2024) | 9.50% (Libor + 8.50%/Q) | 5/1/2019 | 27.4 | 27.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($14.8 par due 11/2024) | 9.50% (Libor + 8.50%/Q) | 8/30/2019 | 14.8 | 14.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($27.5 par due 11/2024) | 9.50% (Libor + 8.50%/Q) | 11/10/2017 | 27.5 | 27.5 | (2)(13) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
Flagship CLO V (9)(10) | Investment vehicle | Subordinated notes ($0.0 par due 9/2019) | 1/3/2017 | — | — | |||||||||||||||
Goldentree Loan Opportunities VII, Limited (9)(10) | Investment vehicle | Subordinated notes ($35.3 par due 4/2025) | 6.9% | 1/3/2017 | 19.5 | 19.3 | ||||||||||||||
Halcyon Loan Advisors Funding 2015-2 Ltd. (9)(10) | Investment vehicle | Subordinated notes ($21.7 par due 7/2027) | 13.5% | 1/3/2017 | 14.4 | 11.7 | ||||||||||||||
HCI Equity, LLC (8)(9)(10) | Investment company | Member interest (100.00% interest) | 4/1/2010 | — | 0.1 | (23) | ||||||||||||||
Herbert Park B.V. (9)(10) | Investment vehicle | Subordinated notes ($22.5 par due 10/2026) | 1/3/2017 | 0.9 | 0.5 | |||||||||||||||
Imperial Capital Private Opportunities, LP (10) | Investment partnership | Limited partnership interest (80.00% interest) | 5/10/2007 | 3.2 | 13.0 | (2) | ||||||||||||||
LightPoint CLO VII, Ltd. (9)(10) | Investment vehicle | Subordinated notes ($9.0 par due 5/2021) | 1/3/2017 | — | — | |||||||||||||||
Montgomery Lane, LLC and Montgomery Lane, Ltd. (8)(9)(10) | Investment company | Common stock (100 shares) | 1/3/2017 | — | 0.6 | |||||||||||||||
Common stock (50,000 shares) | 1/3/2017 | — | — | |||||||||||||||||
— | 0.6 | |||||||||||||||||||
Octagon Investment Partners XIX, Ltd. (9)(10) | Investment vehicle | Subordinated notes ($25.0 par due 4/2026) | 14% | 1/3/2017 | 10.9 | 10.6 | ||||||||||||||
OHA Credit Partners XI, Ltd. (9)(10) | Investment vehicle | Subordinated notes ($17.8 par due 10/2028) | 9.5% | 1/3/2017 | 14.3 | 13.5 | ||||||||||||||
Partnership Capital Growth Fund I, L.P. (10) | Investment partnership | Limited partnership interest (25.00% interest) | 6/16/2006 | — | 0.1 | (2)(23) | ||||||||||||||
Partnership Capital Growth Investors III, L.P. (10)(21) | Investment partnership | Limited partnership interest (2.50% interest) | 10/5/2011 | 2.5 | 3.3 | (2)(23) | ||||||||||||||
PCG-Ares Sidecar Investment II, L.P. (10) | Investment partnership | Limited partnership interest (100.00% interest) | 10/31/2014 | 7.5 | 12.3 | (2) | ||||||||||||||
PCG-Ares Sidecar Investment, L.P. (10)(21) | Investment partnership | Limited partnership interest (100.00% interest) | 5/22/2014 | 3.9 | 4.2 | (2) | ||||||||||||||
Piper Jaffray Merchant Banking Fund I, L.P. (10)(21) | Investment partnership | Limited partnership interest (2.00% interest) | 8/16/2012 | 1.5 | 1.6 | (23) | ||||||||||||||
Qualium Investissement (9)(10) | Investment partnership | Class A common stock (99,000 shares) | 1/3/2017 | 7.3 | 7.9 | (23) | ||||||||||||||
Class B common stock (100,000 shares) | 1/3/2017 | 0.1 | 0.1 | (23) | ||||||||||||||||
Class C common stock (48,939 shares) | 1/3/2017 | 0.1 | 0.1 | (23) | ||||||||||||||||
7.5 | 8.1 | |||||||||||||||||||
Senior Direct Lending Program, LLC (8)(10)(22) | Co-investment vehicle | Subordinated certificates ($437.4 par due 12/2036) | 9.15% (Libor + 8.00%/Q)(17) | 7/27/2016 | 437.4 | 437.4 | ||||||||||||||
Member interest (87.50% interest) | 7/27/2016 | — | — | |||||||||||||||||
437.4 | 437.4 | |||||||||||||||||||
Vitesse CLO, Ltd. (9)(10) | Investment vehicle | Preferred shares (20,000,000 shares) | 1/3/2017 | — | — | |||||||||||||||
Voya CLO 2014-4 Ltd. (9)(10) | Investment vehicle | Subordinated notes ($26.7 par due 10/2026) | 10.5% | 1/3/2017 | 17.6 | 20.3 | ||||||||||||||
VSC Investors LLC (10) | Investment company | Membership interest (1.95% interest) | 1/24/2008 | 0.3 | 1.3 | (2)(23) | ||||||||||||||
674.7 | 692.4 | 9.85 | % | |||||||||||||||||
Other Services | ||||||||||||||||||||
American Residential Services L.L.C. | Heating, ventilation and air conditioning services provider | Second lien senior secured loan ($67.0 par due 12/2022) | 9.24% (Libor + 8.00%/Q) | 6/30/2014 | 66.7 | 66.3 | (2)(16) | |||||||||||||
Associated Asphalt Partners, LLC | Provider of asphalt terminalling, storage and distribution | First lien senior secured loan ($4.3 par due 4/2024) | 6.49% (Libor + 5.25%/Q) | 3/30/2017 | 4.2 | 3.8 | (2)(16) | |||||||||||||
Champion Parent Corporation and Calera XVI, LLC (8) | Endurance sports media and event operator | First lien senior secured revolving loan ($0.8 par due 11/2018) | 11/30/2012 | 0.1 | 0.1 | (2)(15) | ||||||||||||||
First lien senior secured loan ($6.5 par due 11/2018) | 11/30/2012 | 0.9 | 0.5 | (2)(15) | ||||||||||||||||
Preferred shares (18,875 shares) | 3/25/2016 | — | — | (2) | ||||||||||||||||
Membership units (2,522,512 units) | 11/30/2012 | — | — | (2) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
154.4 | 154.4 | ||||||||||||||||||||||||||||||||||||||||||||||
Galway Borrower LLC (17) | Insurance service provider | First lien senior secured loan ($90.0 par due 9/2028) | 6.00% (Libor + 5.25%/Q) | 9/30/2021 | 90.0 | 88.2 | (13) | ||||||||||||||||||||||||||||||||||||||||
High Street Buyer, Inc. and High Street Holdco LLC (17) | Insurance brokerage platform | First lien senior secured loan ($108.4 par due 4/2028) | 6.75% (Libor + 6.00%/Q) | 4/16/2021 | 108.4 | 107.2 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Series A preferred units (64,759,781 units) | 10.00% PIK | 4/16/2021 | 66.9 | 66.9 | (2) | ||||||||||||||||||||||||||||||||||||||||||
Series A common units (4,649,000 units) | 10.00% PIK | 4/16/2021 | 4.6 | 7.4 | (2) | ||||||||||||||||||||||||||||||||||||||||||
Series C common units (3,332,456 units) | 10.00% PIK | 4/16/2021 | — | 5.3 | (2) | ||||||||||||||||||||||||||||||||||||||||||
179.9 | 186.8 | ||||||||||||||||||||||||||||||||||||||||||||||
K2 Insurance Services, LLC and K2 Holdco LP (17) | Specialty insurance and managing general agency | First lien senior secured revolving loan | 7/1/2019 | — | — | (15) | |||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($51.1 par due 7/2026) | 6.00% (Libor + 5.00%/Q) | 7/1/2019 | 51.1 | 51.1 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($16.4 par due 7/2026) | 6.00% (Libor + 5.00%/Q) | 8/16/2021 | 16.4 | 16.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Common units (799,000 units) | 7/1/2019 | 0.8 | 1.2 | (2) | |||||||||||||||||||||||||||||||||||||||||||
68.3 | 68.7 | ||||||||||||||||||||||||||||||||||||||||||||||
NSM Insurance Group, LLC (17) | Insurance program administrator | First lien senior secured revolving loan ($3.9 par due 11/2025) | 7.00% (Base Rate + 3.75%/Q) | 6/2/2021 | 3.9 | 3.9 | (2)(13)(16) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($12.8 par due 5/2026) | 6.00% (Libor + 4.75%/Q) | 5/11/2018 | 12.8 | 12.8 | (13) | ||||||||||||||||||||||||||||||||||||||||||
16.7 | 16.7 | ||||||||||||||||||||||||||||||||||||||||||||||
OneDigital Holdings, Achilles Holdco (17) | Benefits broker and outsourced workflow automation platform provider for brokers | First lien senior secured revolving loan ($0.5 par due 11/2025) | 6.00% (Base Rate + 2.75%/Q) | 11/16/2020 | 0.4 | 0.5 | (2)(16) | ||||||||||||||||||||||||||||||||||||||||
People Corporation (17) | Provider of group benefits, group retirement and human resources services | First lien senior secured revolving loan ($1.2 par due 2/2027) | 7.25% (Libor + 6.25%/Q) | 2/18/2021 | 1.2 | 1.2 | (2)(6)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($55.7 par due 2/2028) | 7.25% (CDOR + 6.25%/Q) | 2/18/2021 | 55.8 | 55.7 | (2)(6)(13) | ||||||||||||||||||||||||||||||||||||||||||
57.0 | 56.9 | ||||||||||||||||||||||||||||||||||||||||||||||
RSC Acquisition, Inc. and RSC Insurance Brokerage, Inc. (17) | Insurance broker | First lien senior secured revolving loan | 11/1/2019 | — | — | (15) | |||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($33.2 par due 10/2026) | 6.50% (Libor + 5.50%/Q) | 11/1/2019 | 33.2 | 33.2 | (13) | ||||||||||||||||||||||||||||||||||||||||||
33.2 | 33.2 | ||||||||||||||||||||||||||||||||||||||||||||||
SCM Insurance Services Inc. (17) | Provider of claims management, claims investigation & support and risk management solutions for the Canadian property and casualty insurance industry | First lien senior secured loan ($20.5 par due 8/2024) | 6.00% (CDOR + 5.00%/M) | 8/29/2017 | 20.7 | 20.5 | (2)(6)(13) | ||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($59.9 par due 3/2025) | 10.00% (CDOR + 9.00%/M) | 8/29/2017 | 60.5 | 59.9 | (2)(6)(13) | ||||||||||||||||||||||||||||||||||||||||||
81.2 | 80.4 | ||||||||||||||||||||||||||||||||||||||||||||||
SG Acquisition, Inc. | Provider of insurance solutions for car sales | First lien senior secured loan ($37.3 par due 1/2027) | 5.50% (Libor + 5.00%/M) | 1/27/2020 | 37.3 | 37.3 | (13) | ||||||||||||||||||||||||||||||||||||||||
Spring Insurance Solutions, LLC (17) | Technology-based direct to consumer sales and marketing platform for insurance products | First lien senior secured loan ($19.0 par due 11/2025) | 7.50% (Libor + 6.50%/Q) | 11/23/2020 | 19.0 | 18.6 | (13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.7 par due 11/2025) | 7.50% (Libor + 6.50%/Q) | 11/23/2020 | 0.7 | 0.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
19.7 | 19.3 | ||||||||||||||||||||||||||||||||||||||||||||||
THG Acquisition, LLC (17) | Multi-line insurance broker | First lien senior secured revolving loan | 12/2/2019 | — | — | (15) | |||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($9.9 par due 12/2026) | 6.75% (Libor + 5.75%/Q) | 12/2/2019 | 9.9 | 9.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($8.5 par due 12/2026) | 7.25% (Libor + 6.25%/Q) | 12/15/2020 | 8.5 | 8.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($17.5 par due 12/2026) | 7.25% (Libor + 6.25%/Q) | 12/15/2020 | 17.5 | 17.5 | (13) | ||||||||||||||||||||||||||||||||||||||||||
35.9 | 35.9 |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
Common shares (114,000 shares) | 3/25/2016 | — | — | (2) | ||||||||||||||||
1.0 | 0.6 | |||||||||||||||||||
Crown Health Care Laundry Services, LLC and Crown Laundry Holdings, LLC (7)(20) | Provider of outsourced healthcare linen management solutions | First lien senior secured revolving loan | — | 3/13/2014 | — | — | (18) | |||||||||||||
First lien senior secured loan ($5.1 par due 12/2021) | 7.49% (Libor + 6.25%/Q) | 3/13/2014 | 5.1 | 5.1 | (2)(16) | |||||||||||||||
First lien senior secured loan ($5.2 par due 12/2021) | 7.49% (Libor + 6.25%/Q) | 3/13/2014 | 5.2 | 5.2 | (3)(16) | |||||||||||||||
First lien senior secured loan ($7.0 par due 12/2021) | 7.49% (Libor + 6.25%/Q) | 4/6/2017 | 7.0 | 7.0 | (2)(16) | |||||||||||||||
Class A preferred units (2,475,000 units) | 3/13/2014 | 2.5 | 3.4 | (2) | ||||||||||||||||
Class B common units (275,000 units) | 3/13/2014 | 0.3 | 0.4 | (2) | ||||||||||||||||
20.1 | 21.1 | |||||||||||||||||||
CST Buyer Company (d/b/a Intoxalock) (20) | Provider of ignition interlock devices | First lien senior secured loan ($0.0 par due 3/2023) | 7.58% (Libor + 6.25%/Q) | 3/1/2017 | — | — | (2)(16) | |||||||||||||
First lien senior secured loan ($11.8 par due 3/2023) | 7.75% (Libor + 6.25%/Q) | 3/1/2017 | 11.5 | 11.8 | (2)(16) | |||||||||||||||
11.5 | 11.8 | |||||||||||||||||||
Dwyer Acquisition Parent, Inc. and TDG Group Holding Company | Operator of multiple franchise concepts primarily related to home maintenance or repairs | Senior subordinated loan ($52.7 par due 2/2020) | 11% | 8/15/2014 | 52.7 | 52.7 | (2) | |||||||||||||
Senior subordinated loan ($23.5 par due 2/2020) | 11% | 5/1/2017 | 23.5 | 23.5 | (2) | |||||||||||||||
Senior subordinated loan ($31.5 par due 2/2020) | 11% | 6/12/2015 | 31.5 | 31.5 | (2) | |||||||||||||||
Common stock (32,843 shares) | 8/15/2014 | 2.2 | 4.9 | (2) | ||||||||||||||||
109.9 | 112.6 | |||||||||||||||||||
Massage Envy, LLC and ME Equity LLC (20) | Franchisor in the massage industry | First lien senior secured revolving loan ($1.5 par due 9/2020) | 7.99% (Libor + 6.75%/Q) | 6/28/2017 | 1.5 | 1.5 | (2)(16) | |||||||||||||
First lien senior secured loan ($1.3 par due 9/2020) | 8.07% (Libor + 6.75%/Q) | 4/12/2017 | 1.3 | 1.3 | (2)(16) | |||||||||||||||
First lien senior secured loan ($0.1 par due 9/2020) | 8.08% (Libor + 6.75%/Q) | 4/12/2017 | 0.1 | 0.1 | (2)(16) | |||||||||||||||
First lien senior secured loan ($0.0 par due 9/2020) | 10.00% (Base Rate + 5.75%/Q) | 4/12/2017 | — | — | (2)(16) | |||||||||||||||
First lien senior secured loan ($0.5 par due 9/2020) | 8.07% (Libor + 6.75%/Q) | 7/27/2017 | 0.5 | 0.5 | (2)(16) | |||||||||||||||
First lien senior secured loan ($38.5 par due 9/2020) | 8.08% (Libor + 6.75%/Q) | 9/27/2012 | 38.5 | 38.5 | (3)(16) | |||||||||||||||
First lien senior secured loan ($18.7 par due 9/2020) | 8.08% (Libor + 6.75%/Q) | 9/27/2012 | 18.7 | 18.7 | (4)(16) | |||||||||||||||
First lien senior secured loan ($0.1 par due 9/2020) | 10.00% (Base Rate + 5.75%/Q) | 9/27/2012 | 0.1 | 0.1 | (3)(16) | |||||||||||||||
First lien senior secured loan ($0.0 par due 9/2020) | 10.00% (Base Rate + 5.75%/Q) | 9/27/2012 | — | — | (4)(16) | |||||||||||||||
Common stock (3,000,000 shares) | 9/27/2012 | 3.0 | 4.2 | (2) | ||||||||||||||||
63.7 | 64.9 | |||||||||||||||||||
McKenzie Sports Products, LLC (20) | Designer, manufacturer and distributor of hunting-related supplies | First lien senior secured loan ($0.8 par due 9/2020) | 6.99% (Libor + 5.75%/Q) | 9/18/2014 | 0.8 | 0.8 | (3)(12)(16) | |||||||||||||
First lien senior secured loan ($4.7 par due 9/2020) | 7.05% (Libor + 5.75%/Q) | 9/18/2014 | 4.7 | 4.7 | (3)(12)(16) | |||||||||||||||
First lien senior secured loan ($84.5 par due 9/2020) | 9.26% (Libor + 7.93%/Q) | 9/18/2014 | 84.5 | 84.5 | (3)(16) | |||||||||||||||
90.0 | 90.0 |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
1,140.5 | 1,151.2 | 13.49 | % | ||||||||||||||||||||||||||||||||||||||||||||
Diversified Financials | |||||||||||||||||||||||||||||||||||||||||||||||
BCC Blueprint Holdings I, LLC and BCC Blueprint Investments, LLC | Provider of comprehensive suite of investment management and wealth planning solutions | First lien senior secured loan ($0.2 par due 9/2027) | 7.00% (Libor + 6.25%/Q) | 9/15/2021 | 0.2 | 0.2 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Senior subordinated loan ($4.4 par due 9/2026) | 8.55% Cash, 0.75% PIK | 9/15/2021 | 4.4 | 4.4 | (2) | ||||||||||||||||||||||||||||||||||||||||||
Common units (4,069,926.54) | 9/15/2021 | 4.1 | 4.1 | (2) | |||||||||||||||||||||||||||||||||||||||||||
8.7 | 8.7 | ||||||||||||||||||||||||||||||||||||||||||||||
DFC Global Facility Borrower III LLC (17) | Non-bank provider of alternative financial services | First lien senior secured revolving loan ($146.1 par due 6/2026) | 8.00% (CDOR + 7.50%/Q) | 6/10/2021 | 149.9 | 145.5 | (2)(6)(11)(13) | ||||||||||||||||||||||||||||||||||||||||
eCapital Finance Corp. | Consolidator of commercial finance businesses | Senior subordinated loan ($56.0 par due 1/2025) | 9.00% (Libor + 7.50%/M) | 1/31/2020 | 56.0 | 56.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Senior subordinated loan ($5.4 par due 1/2025) | 9.00% (Libor + 7.50%/M) | 11/24/2020 | 5.4 | 5.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
61.4 | 61.4 | ||||||||||||||||||||||||||||||||||||||||||||||
EP Wealth Advisors, LLC (17) | Wealth management and financial planning firm | First lien senior secured revolving loan ($0.4 par due 9/2026) | 6.25% (Libor + 5.25%/Q) | 9/4/2020 | 0.4 | 0.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Ivy Hill Asset Management, L.P. (5) | Asset management services | Senior subordinated loan ($16.0 par due 5/2023) | 7.25% (Libor + 6.50%/M) | 2/8/2018 | 16.0 | 16.0 | (6)(13) | ||||||||||||||||||||||||||||||||||||||||
Member interest (100.00% interest) | 6/15/2009 | 469.0 | 603.6 | (6) | |||||||||||||||||||||||||||||||||||||||||||
485.0 | 619.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Javlin Three LLC, Javlin Four LLC, and Javlin Five LLC | Asset-backed financial services company | First lien senior secured loan ($15.7 par due 6/2017) | 6/24/2014 | 12.7 | 0.4 | (2)(6)(12) | |||||||||||||||||||||||||||||||||||||||||
Joyce Lane Capital LLC and Joyce Lane Financing SPV LLC (fka Ciena Capital LLC) (5)(17) | Specialty finance company | First lien senior secured loan ($0.6 par due 12/2022) | 4.13% (Libor + 4.00%/Q) | 12/27/2018 | 0.6 | 0.6 | (2)(6) | ||||||||||||||||||||||||||||||||||||||||
Equity interests | 11/29/2010 | — | — | (2)(6) | |||||||||||||||||||||||||||||||||||||||||||
0.6 | 0.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Lido Advisors, LLC (17) | Wealth management and financial planning firm | First lien senior secured loan ($3.0 par due 6/2027) | 5.50% (Libor + 4.50%/Q) | 6/15/2021 | 3.0 | 3.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
LS DE LLC and LM LSQ Investors LLC | Asset based lender | Senior subordinated loan ($37.0 par due 3/2024) | 10.50% | 6/25/2015 | 37.0 | 37.0 | (2)(6) | ||||||||||||||||||||||||||||||||||||||||
Senior subordinated loan ($3.0 par due 1/2026) | 10.50% | 6/15/2017 | 3.0 | 3.0 | (2)(6) | ||||||||||||||||||||||||||||||||||||||||||
Membership units (3,275,000 units) | 6/25/2015 | 3.3 | 3.6 | (6) | |||||||||||||||||||||||||||||||||||||||||||
43.3 | 43.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Monica Holdco (US) Inc. (17) | Investment technology and advisory firm | First lien senior secured revolving loan | 1/8/2021 | — | — | (15) | |||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($2.6 par due 1/2028) | 7.25% (Libor + 6.25%/Q) | 1/8/2021 | 2.6 | 2.6 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
2.6 | 2.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Priority Holdings, LLC and Priority Technology Holdings, Inc. | Provider of merchant acquiring and payment processing solutions | First lien senior secured loan ($38.9 par due 4/2027) | 6.75% (Libor + 5.75%/Q) | 4/27/2021 | 38.9 | 38.5 | (2)(6)(13) | ||||||||||||||||||||||||||||||||||||||||
Senior preferred stock (65,761 shares) | 13.00% PIK (Libor + 12.00%/Q) | 4/27/2021 | 63.1 | 63.3 | (2)(6)(13) | ||||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 527,226 shares of common stock (expires 4/2031) | 4/27/2021 | 4.0 | 3.8 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||||
106.0 | 105.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Rialto Management Group, LLC (17) | Investment and asset management platform focused on real estate | First lien senior secured revolving loan | 11/30/2018 | — | — | (6)(15) | |||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.7 par due 12/2024) | 5.33% (Libor + 5.25%/M) | 11/30/2018 | 0.7 | 0.7 | (6) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($7.7 par due 12/2024) | 5.33% (Libor + 5.25%/M) | 4/30/2021 | 7.7 | 7.7 | (2)(6) | ||||||||||||||||||||||||||||||||||||||||||
8.4 | 8.4 |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
MSHC, Inc. (20) | Heating, ventilation and air conditioning services provider | First lien senior secured revolving loan ($0.2 par due 7/2022) | 5.58% (Libor + 4.25%/Q) | 7/31/2017 | 0.2 | 0.2 | (2)(16) | |||||||||||||
First lien senior secured loan ($1.1 par due 7/2023) | 5.58% (Libor + 4.25%/Q) | 7/31/2017 | 1.1 | 1.1 | (2)(16) | |||||||||||||||
First lien senior secured loan ($3.2 par due 7/2023) | 5.58% (Libor + 4.25%/Q) | 7/31/2017 | 3.1 | 3.1 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($46.0 par due 7/2024) | 9.58% (Libor + 8.25%/Q) | 7/31/2017 | 46.0 | 45.5 | (2)(16) | |||||||||||||||
50.4 | 49.9 | |||||||||||||||||||
OpenSky Project, Inc. and OSP Holdings, Inc. | Social commerce platform operator | Warrant to purchase up to 159,496 shares of Series D preferred stock (expires 4/2025) | 6/29/2015 | — | — | (2) | ||||||||||||||
Osmose Utilities Services, Inc. (20) | Provider of structural integrity management services to transmission and distribution infrastructure | Second lien senior secured loan ($34.0 par due 8/2023) | 9.08% (Libor + 7.75%/Q) | 1/3/2017 | 33.4 | 34.0 | (2)(16) | |||||||||||||
Second lien senior secured loan ($25.0 par due 8/2023) | 9.08% (Libor + 7.75%/Q) | 9/3/2015 | 24.6 | 25.0 | (2)(16) | |||||||||||||||
58.0 | 59.0 | |||||||||||||||||||
SocialFlow, Inc. | Social media optimization platform provider | Warrant to purchase up to 215,331 shares of Series C preferred stock (expires 1/2026) | 1/13/2016 | — | — | (5) | ||||||||||||||
SoundCloud Limited | Platform for receiving, sending, and distributing music | Common stock (73,422 shares) | 8/15/2017 | 0.4 | 0.7 | (2) | ||||||||||||||
Spin HoldCo Inc. | Laundry service and equipment provider | Second lien senior secured loan ($175.0 par due 5/2023) | 9.07% (Libor + 7.75%/Q) | 6/23/2017 | 175.0 | 175.0 | (2)(16) | |||||||||||||
Tyden Cayman Holdings Corp. (9) | Producer and marketer of global cargo security, product identification and traceability products and utility meter products | Preferred stock (46,276 shares) | 1/3/2017 | 0.4 | 0.4 | |||||||||||||||
Common stock (5,521,203 shares) | 1/3/2017 | 2.0 | 2.0 | |||||||||||||||||
2.4 | 2.4 | |||||||||||||||||||
WASH Multifamily Acquisition Inc. and Coinamatic Canada Inc. | Laundry service and equipment provider | Second lien senior secured loan ($3.7 par due 5/2023) | 8.24% (Libor + 7.00%/Q) | 5/14/2015 | 3.7 | 3.7 | (2)(16) | |||||||||||||
Second lien senior secured loan ($21.3 par due 5/2023) | 8.24% (Libor + 7.00%/Q) | 5/14/2015 | 21.0 | 21.1 | (2)(16) | |||||||||||||||
24.7 | 24.8 | |||||||||||||||||||
Wrench Group LLC | Provider of essential home services to residential customers | First lien senior secured loan ($4.0 par due 3/2022) | 6.49% (Libor + 5.25%/Q) | 1/31/2017 | 4.0 | 4.0 | (2)(16) | |||||||||||||
682.0 | 686.9 | 9.77 | % | |||||||||||||||||
Manufacturing | ||||||||||||||||||||
Chariot Acquisition, LLC (20) | Aftermarket golf cart parts and accessories | First lien senior secured loan ($18.4 par due 9/2021) | 7.49% (Libor + 6.25%/Q) | 1/3/2017 | 18.3 | 17.9 | (3)(16) | |||||||||||||
First lien senior secured loan ($9.4 par due 9/2021) | 7.49% (Libor + 6.25%/Q) | 1/3/2017 | 9.3 | 9.1 | (4)(16) | |||||||||||||||
27.6 | 27.0 | |||||||||||||||||||
Component Hardware Group, Inc. (20) | Commercial equipment | First lien senior secured revolving loan ($1.9 par due 7/2019) | 5.73% (Libor + 4.50%/Q) | 7/1/2013 | 1.9 | 1.9 | (2)(16) | |||||||||||||
First lien senior secured loan ($7.9 par due 7/2019) | 5.74% (Libor + 4.50%/Q) | 7/1/2013 | 7.9 | 7.9 | (4)(16) | |||||||||||||||
9.8 | 9.8 | |||||||||||||||||||
Dorner Holding Corp. (20) | Manufacturer of precision unit conveyors | First lien senior secured revolving loan ($1.5 par due 3/2022) | 7.08% (Libor + 5.75%/Q) | 3/15/2017 | 1.5 | 1.5 | (2)(16) | |||||||||||||
First lien senior secured loan ($4.4 par due 3/2023) | 7.08% (Libor + 5.75%/Q) | 3/15/2017 | 4.4 | 4.4 | (2)(16) | |||||||||||||||
5.9 | 5.9 | |||||||||||||||||||
ECI Purchaser Company, LLC | Manufacturer of equipment to safely control pressurized gases | First lien senior secured loan ($21.8 par due 12/2018) | 6.57% (Libor + 5.25%/Q) | 7/26/2017 | 21.8 | 21.3 | (2)(16) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
TA/WEG Holdings, LLC (17) | Wealth management and financial planning firm | First lien senior secured revolving loan ($1.5 par due 10/2027) | 6.75% (Libor + 5.75%/Q) | 10/2/2019 | 1.5 | 1.5 | (2)(13)(16) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($5.5 par due 10/2027) | 6.75% (Libor + 5.75%/Q) | 10/2/2019 | 5.5 | 5.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($2.5 par due 10/2027) | 6.75% (Libor + 5.75%/Q) | 11/6/2020 | 2.5 | 2.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.9 par due 10/2027) | 6.75% (Libor + 5.75%/Q) | 6/3/2021 | 1.9 | 1.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
11.4 | 11.4 | ||||||||||||||||||||||||||||||||||||||||||||||
The Ultimus Group Midco, LLC, The Ultimus Group, LLC, and The Ultimus Group Aggregator, LP (17) | Provider of asset-servicing capabilities for fund managers | First lien senior secured revolving loan ($4.0 par due 2/2024) | 4.63% (Libor + 4.50%/Q) | 2/1/2019 | 4.0 | 4.0 | (2) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($37.9 par due 2/2026) | 5.50% (Libor + 4.50%/Q) | 2/1/2019 | 37.9 | 37.9 | (13) | ||||||||||||||||||||||||||||||||||||||||||
Class A units (1,443 units) | 9/16/2019 | 1.6 | 1.4 | ||||||||||||||||||||||||||||||||||||||||||||
Class A units (245 units) | 2/1/2019 | 0.2 | — | ||||||||||||||||||||||||||||||||||||||||||||
Class B units (2,167,424 units) | 2/1/2019 | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Class B units (245,194 units) | 2/1/2019 | — | — | ||||||||||||||||||||||||||||||||||||||||||||
43.7 | 43.3 | ||||||||||||||||||||||||||||||||||||||||||||||
937.1 | 1,054.5 | 12.35 | % | ||||||||||||||||||||||||||||||||||||||||||||
Investment Funds and Vehicles | |||||||||||||||||||||||||||||||||||||||||||||||
ACAS Equity Holdings Corporation (5) | Investment company | Common stock (589 shares) | 1/3/2017 | 0.4 | 0.4 | (6) | |||||||||||||||||||||||||||||||||||||||||
Ares IIIR/IVR CLO Ltd. | Investment vehicle | Subordinated notes ($20.0 par due 4/2025) | 1/3/2017 | — | — | (6) | |||||||||||||||||||||||||||||||||||||||||
CoLTs 2005-1 Ltd. (5) | Investment vehicle | Preferred shares (360 shares) | 1/3/2017 | — | — | (6) | |||||||||||||||||||||||||||||||||||||||||
CoLTs 2005-2 Ltd. (5) | Investment vehicle | Preferred shares (34,170,000 shares) | 1/3/2017 | — | — | (6) | |||||||||||||||||||||||||||||||||||||||||
CREST Exeter Street Solar 2004-1 | Investment vehicle | Preferred shares (3,500,000 shares) | 1/3/2017 | — | — | (6) | |||||||||||||||||||||||||||||||||||||||||
European Capital UK SME Debt LP (4)(18) | Investment partnership | Limited partnership interest (45% interest) | 1/3/2017 | 18.8 | 25.4 | (6) | |||||||||||||||||||||||||||||||||||||||||
HCI Equity, LLC (5) | Investment company | Member interest (100.00% interest) | 4/1/2010 | — | 0.1 | (6)(20) | |||||||||||||||||||||||||||||||||||||||||
Partnership Capital Growth Investors III, L.P. | Investment partnership | Limited partnership interest (2.50% interest) | 10/5/2011 | 2.8 | 3.6 | (6)(20) | |||||||||||||||||||||||||||||||||||||||||
PCG-Ares Sidecar Investment II, L.P. (4)(18) | Investment partnership | Limited partnership interest (100.00% interest) | 10/31/2014 | 7.0 | 11.1 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||
PCG-Ares Sidecar Investment, L.P. (4)(18) | Investment partnership | Limited partnership interest (100.00% interest) | 5/22/2014 | 4.3 | 1.3 | (6) | |||||||||||||||||||||||||||||||||||||||||
Piper Jaffray Merchant Banking Fund I, L.P. | Investment partnership | Limited partnership interest (2.00% interest) | 8/16/2012 | 0.7 | 1.0 | (6)(20) | |||||||||||||||||||||||||||||||||||||||||
Senior Direct Lending Program, LLC (5)(19) | Co-investment vehicle | Subordinated certificates ($931.7 par due 12/2036) | 8.13% (Libor + 8.00%/Q)(14) | 7/27/2016 | 931.7 | 931.7 | (6) | ||||||||||||||||||||||||||||||||||||||||
Member interest (87.50% interest) | 7/27/2016 | — | — | (6) | |||||||||||||||||||||||||||||||||||||||||||
931.7 | 931.7 | ||||||||||||||||||||||||||||||||||||||||||||||
VSC Investors LLC | Investment company | Membership interest (1.95% interest) | 1/24/2008 | 0.3 | 0.6 | (2)(6)(20) | |||||||||||||||||||||||||||||||||||||||||
966.0 | 975.4 | 11.43 | % | ||||||||||||||||||||||||||||||||||||||||||||
Capital Goods | |||||||||||||||||||||||||||||||||||||||||||||||
Arrowhead Holdco Company and Arrowhead GS Holdings, Inc. (17) | Distributor of non-discretionary, mission-critical aftermarket replacement parts | First lien senior secured revolving loan ($0.9 par due 8/2027) | 5.25% (Libor + 4.50%/Q) | 8/31/2021 | 0.9 | 0.8 | (2)(13)(16) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($52.0 par due 8/2028) | 5.25% (Libor + 4.50%/Q) | 8/31/2021 | 52.0 | 51.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($25.2 par due 8/2029) | 8.50% (Libor + 7.75%/Q) | 8/31/2021 | 25.2 | 24.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Common stock (4,900 shares) | 8/31/2021 | 4.9 | 5.8 | (2) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
First lien senior secured loan ($163.4 par due 12/2018) | 6.67% (Libor + 5.25%/Q) | 7/26/2017 | 163.4 | 160.2 | (2)(16) | |||||||||||||||
First lien senior secured loan ($0.5 par due 12/2018) | 6.70% (Libor + 5.25%/Q) | 7/26/2017 | 0.5 | 0.5 | (2)(16) | |||||||||||||||
185.7 | 182.0 | |||||||||||||||||||
ETG Holdings, Inc. (8) | Industrial woven products | Common stock (3,000 shares) | 1/3/2017 | — | — | |||||||||||||||
Foamex Innovations, Inc. (dba FXI) | Advanced polymer foam products | Series A common stock (2,708 shares) | 1/3/2017 | — | 0.8 | |||||||||||||||
Series B common stock (455 shares) | 1/3/2017 | — | 0.1 | |||||||||||||||||
— | 0.9 | |||||||||||||||||||
Harvey Tool Company, LLC and Harvey Tool Holding, LLC (20) | Cutting tool provider to the metalworking industry | First lien senior secured revolving loan | — | 8/13/2015 | — | — | (18) | |||||||||||||
Senior subordinated loan ($28.4 par due 9/2020) | 11% | 8/13/2015 | 28.4 | 28.4 | (2) | |||||||||||||||
Class A membership units (851 units) | 3/28/2014 | 0.9 | 3.5 | (2) | ||||||||||||||||
29.3 | 31.9 | |||||||||||||||||||
Ioxus, Inc (7) | Energy storage devices | First lien senior secured loan ($0.9 par due 12/2019) | 4/29/2014 | 0.8 | 0.9 | (2)(14) | ||||||||||||||
First lien senior secured loan ($10.2 par due 12/2019) | 12.00% PIK | 4/29/2014 | 10.0 | 10.2 | (2)(14) | |||||||||||||||
Series CC preferred stock (67,330,609 shares) | 1/27/2017 | 0.7 | — | (2) | ||||||||||||||||
Warrant to purchase up to 3,038,730 shares of common stock (expires 1/2026) | 1/28/2016 | — | — | (2) | ||||||||||||||||
Warrant to purchase up to 1,210,235 shares of Series BB preferred stock (expires 8/2026) | 1/28/2016 | — | — | (2) | ||||||||||||||||
Warrant to purchase up to 336,653,045 shares of Series CC preferred stock (expires 1/2027) | 1/27/2017 | — | — | (2) | ||||||||||||||||
11.5 | 11.1 | |||||||||||||||||||
KPS Global LLC | Walk-in cooler and freezer systems | First lien senior secured loan ($1.9 par due 4/2022) | 3.73% (Libor + 2.50%/Q) | 4/5/2017 | 1.9 | 1.9 | (2)(16) | |||||||||||||
First lien senior secured loan ($12.5 par due 4/2022) | 8.53% (Libor + 7.30%/Q) | 4/5/2017 | 12.5 | 12.2 | (2)(16) | |||||||||||||||
First lien senior secured loan ($6.2 par due 4/2022) | 8.53% (Libor + 7.30%/Q) | 4/5/2017 | 6.2 | 6.1 | (4)(16) | |||||||||||||||
20.6 | 20.2 | |||||||||||||||||||
MacLean-Fogg Company and MacLean-Fogg Holdings, L.L.C. | Manufacturer and supplier for the power utility and automotive markets worldwide | Senior subordinated loan ($102.2 par due 10/2025) | 10.50% Cash, 3.00% PIK | 10/31/2013 | 102.2 | 102.2 | (2) | |||||||||||||
Preferred units (70,183 units) | 4.50% Cash, 9.25% PIK | 10/9/2015 | 75.6 | 75.6 | ||||||||||||||||
177.8 | 177.8 | |||||||||||||||||||
Niagara Fiber Intermediate Corp. (20) | Insoluble fiber filler products | First lien senior secured revolving loan ($0.1 par due 11/2017) | 10.25% (Base Rate + 6.00%/Q) | 4/4/2017 | 0.1 | 0.1 | (2)(16) | |||||||||||||
First lien senior secured revolving loan ($1.9 par due 5/2018) | 5/8/2014 | 1.8 | 1.1 | (2)(15) | ||||||||||||||||
First lien senior secured loan ($1.3 par due 5/2018) | 5/8/2014 | 1.2 | 0.7 | (2)(15) | ||||||||||||||||
First lien senior secured loan ($12.1 par due 5/2018) | 5/8/2014 | 11.3 | 7.2 | (2)(15) | ||||||||||||||||
14.4 | 9.1 | |||||||||||||||||||
Nordco Inc. (20) | Railroad maintenance-of-way machinery | First lien senior secured revolving loan | — | 8/26/2015 | — | — | (18) | |||||||||||||
Pelican Products, Inc. | Flashlights | Second lien senior secured loan ($40.0 par due 4/2021) | 9.58% (Libor + 8.25%/Q) | 4/11/2014 | 40.0 | 38.4 | (2)(16) | |||||||||||||
Sanders Industries Holdings, Inc. and SI Holdings, Inc. (20) | Elastomeric parts, mid-sized composite structures, and composite tooling | First lien senior secured loan ($0.2 par due 5/2020) | 7.24% (Libor + 6.00%/Q) | 7/21/2017 | 0.2 | 0.2 | (2)(16) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
83.0 | 83.0 | ||||||||||||||||||||||||||||||||||||||||||||||
Cadence Aerospace, LLC (17) | Aerospace precision components manufacturer | First lien senior secured revolving loan ($5.2 par due 11/2022) | 9.50% (Libor + 3.25% Cash, 5.25% PIK/Q) | 11/14/2017 | 5.2 | 5.0 | (2)(13)(16) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured revolving loan ($0.7 par due 11/2023) | 9.50% (Libor + 3.25% Cash, 5.25% PIK/Q) | 7/22/2020 | 0.7 | 0.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($31.5 par due 11/2023) | 9.50% (Libor + 3.25% Cash, 5.25% PIK/S) | 11/14/2017 | 31.4 | 29.9 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($9.8 par due 11/2023) | 9.50% (Libor + 3.25% Cash, 5.25% PIK/Q) | 7/5/2018 | 9.8 | 9.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($12.0 par due 11/2023) | 9.50% (Libor + 3.25% Cash, 5.25% PIK/Q) | 10/31/2019 | 12.0 | 11.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($7.9 par due 11/2023) | 9.50% (Libor + 3.25% Cash, 5.25% PIK/Q) | 2/12/2020 | 7.9 | 7.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($3.7 par due 11/2023) | 9.50% (Libor + 3.25% Cash, 5.25% PIK/Q) | 7/31/2020 | 3.3 | 3.5 | (13) | ||||||||||||||||||||||||||||||||||||||||||
70.3 | 67.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Creation Holdings Inc. (17) | Manufacturer of electrical systems | First lien senior secured revolving loan ($11.0 par due 8/2024) | 6.75% (Libor + 5.75%/M) | 8/15/2019 | 11.0 | 11.0 | (2)(6)(13)(16) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($24.1 par due 8/2025) | 6.75% (Libor + 5.75%/M) | 8/15/2019 | 24.0 | 24.1 | (6)(13) | ||||||||||||||||||||||||||||||||||||||||||
35.0 | 35.1 | ||||||||||||||||||||||||||||||||||||||||||||||
AI Aqua Merger Sub, Inc. | End to end provider of water solutions to a wide range of customer bases | First lien senior secured loan ($0.1 par due 7/2028) | 4.50% (Libor + 4.00%/Q) | 6/17/2021 | 0.1 | 0.1 | (13)(20) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.9 par due 7/2028) | 4.50% (Libor + 4.00%/Q) | 6/17/2021 | 0.9 | 0.9 | (2)(13)(20) | ||||||||||||||||||||||||||||||||||||||||||
1.0 | 1.0 | ||||||||||||||||||||||||||||||||||||||||||||||
DFS Holding Company, Inc. | Distributor of maintenance, repair, and operations parts, supplies, and equipment to the foodservice industry | First lien senior secured loan ($167.2 par due 8/2023) | 8.50% (Libor + 6.00% Cash, 1.50% PIK/M) | 7/26/2017 | 167.0 | 158.8 | (13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($4.3 par due 8/2023) | 8.50% (Libor + 6.00% Cash, 1.50% PIK/M) | 3/1/2017 | 4.3 | 4.1 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($4.9 par due 8/2023) | 8.50% (Libor + 6.00% Cash, 1.50% PIK/M) | 5/22/2020 | 5.0 | 4.7 | (13) | ||||||||||||||||||||||||||||||||||||||||||
176.3 | 167.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Dynamic NC Aerospace Holdings, LLC and Dynamic NC Investment Holdings, LP (17) | Provider of aerospace technology and equipment | First lien senior secured loan ($25.7 par due 12/2026) | 7.50% (Libor + 6.50%/Q) | 12/30/2020 | 25.7 | 25.4 | (13) | ||||||||||||||||||||||||||||||||||||||||
Common units (9,773,000 units) | 12/30/2020 | 9.8 | 8.0 | ||||||||||||||||||||||||||||||||||||||||||||
35.5 | 33.4 | ||||||||||||||||||||||||||||||||||||||||||||||
EPS NASS Parent, Inc. (17) | Provider of maintenance and engineering services for electrical infrastructure | First lien senior secured revolving loan ($0.2 par due 4/2026) | 6.75% (Libor + 5.75%/Q) | 4/19/2021 | 0.2 | 0.2 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($52.2 par due 4/2028) | 6.75% (Libor + 5.75%/Q) | 4/19/2021 | 52.2 | 51.6 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
52.4 | 51.8 | ||||||||||||||||||||||||||||||||||||||||||||||
ESCP PPG Holdings, LLC (4) | Distributor of new equipment and aftermarket parts to the heavy-duty truck industry | Class A units (3,500,000 units) | 12/14/2016 | 3.5 | 3.6 | (2) | |||||||||||||||||||||||||||||||||||||||||
Flow Control Solutions, Inc. (17) | Distributor and manufacturer of flow control systems components | First lien senior secured loan ($10.7 par due 11/2024) | 6.50% (Libor + 5.50%/Q) | 11/21/2018 | 10.7 | 10.7 | (13) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
First lien senior secured loan ($73.3 par due 5/2020) | 7.28% (Libor + 6.00%/Q) | 7/21/2017 | 73.3 | 72.6 | (2)(16) | |||||||||||||||
Common stock (1,500 shares) | 5/30/2014 | 1.5 | 1.2 | (2) | ||||||||||||||||
75.0 | 74.0 | |||||||||||||||||||
Saw Mill PCG Partners LLC | Metal precision engineered components | Common units (1,000 units) | 1/30/2007 | 1.0 | — | (2) | ||||||||||||||
Sonny's Enterprises, LLC (20) | Manufacturer and supplier of car wash equipment, parts and supplies to the conveyorized car wash market | First lien senior secured loan ($0.4 par due 12/2022) | 6.08% (Libor + 4.75%/Q) | 6/1/2017 | 0.4 | 0.4 | (2)(16) | |||||||||||||
First lien senior secured loan ($0.2 par due 12/2022) | 6.08% (Libor + 4.75%/Q) | 5/3/2017 | 0.2 | 0.2 | (2)(16) | |||||||||||||||
First lien senior secured loan ($0.2 par due 12/2022) | 6.08% (Libor + 4.75%/Q) | 9/28/2017 | 0.2 | 0.2 | (2)(16) | |||||||||||||||
0.8 | 0.8 | |||||||||||||||||||
TPTM Merger Corp. (20) | Time temperature indicator products | First lien senior secured revolving loan ($0.8 par due 9/2018) | 7.56% (Libor + 6.25%/Q) | 9/12/2013 | 0.8 | 0.8 | (2)(16) | |||||||||||||
First lien senior secured loan ($10.5 par due 9/2018) | 9.74% (Libor + 8.42%/Q) | 9/12/2013 | 10.5 | 10.5 | (3)(16) | |||||||||||||||
First lien senior secured loan ($6.2 par due 9/2018) | 9.74% (Libor + 8.42%/Q) | 9/12/2013 | 6.2 | 6.2 | (4)(16) | |||||||||||||||
First lien senior secured loan ($6.5 par due 9/2018) | 9.75% (Libor + 8.42%/Q) | 9/12/2013 | 6.5 | 6.5 | (3)(16) | |||||||||||||||
First lien senior secured loan ($3.8 par due 9/2018) | 9.75% (Libor + 8.42%/Q) | 9/12/2013 | 3.8 | 3.8 | (4)(16) | |||||||||||||||
27.8 | 27.8 | |||||||||||||||||||
WP CPP Holdings, LLC | Precision engineered castings | Second lien senior secured loan ($19.7 par due 4/2021) | 9.06% (Libor + 7.75%/Q) | 1/3/2017 | 18.8 | 18.3 | (2)(16) | |||||||||||||
646.0 | 635.0 | 9.04 | % | |||||||||||||||||
Food and Beverage | ||||||||||||||||||||
American Seafoods Group LLC and American Seafoods Partners LLC | Harvester and processor of seafood | Second lien senior secured loan ($73.0 par due 2/2024) | 9.45% (Libor + 8.13%/Q) | 8/21/2017 | 73.0 | 72.8 | (2)(16) | |||||||||||||
Class A units (77,922 units) | 8/19/2015 | 0.1 | 0.1 | (2) | ||||||||||||||||
Warrant to purchase up to 7,422,078 Class A units (expires 8/2035) | 8/19/2015 | 7.4 | 10.4 | (2) | ||||||||||||||||
80.5 | 83.3 | |||||||||||||||||||
Bakemark Holdings, Inc. | Manufacturer and distributor of specialty bakery ingredients | First lien senior secured loan ($1.7 par due 8/2023) | 6.58% (Libor + 5.25%/Q) | 8/14/2017 | 1.7 | 1.7 | (2)(16) | |||||||||||||
DecoPac, Inc. (20) | Supplier of cake decorating solutions and products to in-store bakeries | First lien senior secured revolving loan ($1.6 par due 9/2023) | 5.58% (Libor + 4.25%/Q) | 9/29/2017 | 1.6 | 1.6 | (2)(16) | |||||||||||||
First lien senior secured loan ($11.5 par due 9/2024) | 5.58% (Libor + 4.25%/Q) | 9/29/2017 | 11.5 | 11.3 | (2)(16) | |||||||||||||||
13.1 | 12.9 | |||||||||||||||||||
Eagle Family Foods Group LLC | Manufacturer and producer of milk products | First lien senior secured loan ($0.2 par due 12/2021) | 5.33% (Libor + 4.00%/Q) | 8/29/2017 | 0.2 | 0.2 | (2)(16) | |||||||||||||
First lien senior secured loan ($7.9 par due 12/2021) | 10.38% (Libor + 9.05%/Q) | 9/11/2017 | 7.8 | 7.7 | (2)(16) | |||||||||||||||
First lien senior secured loan ($21.6 par due 12/2021) | 10.38% (Libor + 9.05%/Q) | 8/22/2016 | 21.6 | 21.2 | (3)(16) | |||||||||||||||
First lien senior secured loan ($54.8 par due 12/2021) | 10.38% (Libor + 9.05%/Q) | 12/31/2015 | 54.5 | 53.7 | (3)(16) | |||||||||||||||
84.1 | 82.8 | |||||||||||||||||||
Edward Don & Company, LLC and VCP-EDC Co-Invest, LLC | Distributor of foodservice equipment and supplies | First lien senior secured loan ($47.8 par due 9/2022) | 9.73% (Libor + 8.50%/Q) | 3/31/2017 | 47.8 | 47.8 | (2)(16) | |||||||||||||
Membership units (2,970,000 units) | 6/9/2017 | 3.0 | 3.2 | |||||||||||||||||
50.8 | 51.0 |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($9.4 par due 11/2024) | 6.50% (Libor + 5.50%/Q) | 11/21/2018 | 9.4 | 9.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
20.1 | 20.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Harvey Tool Company, LLC (17) | Manufacturer of cutting tools used in the metalworking industry | First lien senior secured revolving loan | —% | 10/12/2017 | — | — | (16) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($19.8 par due 10/2024) | 5.75% (Libor + 4.75%/Q) | 10/12/2017 | 19.8 | 19.8 | (13) | ||||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($43.7 par due 10/2025) | 9.50% (Libor + 8.50%/Q) | 10/12/2017 | 43.7 | 43.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
63.5 | 63.5 | ||||||||||||||||||||||||||||||||||||||||||||||
Imaging Business Machines, L.L.C. and Scanner Holdings Corporation (5) | Provider of high-speed intelligent document scanning hardware and software | Senior subordinated loan ($16.6 par due 6/2022) | 14.00% | 1/3/2017 | 16.6 | 16.6 | (2) | ||||||||||||||||||||||||||||||||||||||||
Series A preferred stock (73,804,135 shares) | 1/3/2017 | 1.2 | 31.3 | ||||||||||||||||||||||||||||||||||||||||||||
Class A common stock (48,082 shares) | 1/3/2017 | — | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||
Class B common stock (431,055 shares) | 1/3/2017 | 0.1 | 1.2 | ||||||||||||||||||||||||||||||||||||||||||||
17.9 | 49.2 | ||||||||||||||||||||||||||||||||||||||||||||||
Kene Acquisition, Inc. and Kene Holdings, L.P. (17) | National utility services firm providing engineering and consulting services to natural gas, electric power and other energy and industrial end markets | First lien senior secured revolving loan | —% | 8/8/2019 | — | — | (15) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($41.2 par due 8/2026) | 5.25% (Libor + 4.25%/M) | 8/8/2019 | 41.2 | 41.2 | (13) | ||||||||||||||||||||||||||||||||||||||||||
Class A units (4,549,000 units) | 8/8/2019 | 4.5 | 4.7 | (2) | |||||||||||||||||||||||||||||||||||||||||||
45.7 | 45.9 | ||||||||||||||||||||||||||||||||||||||||||||||
LTG Acquisition, Inc. | Designer and manufacturer of display, lighting and passenger communication systems for mass transportation markets | Class A membership units (5,000 units) | 1/3/2017 | 5.1 | — | ||||||||||||||||||||||||||||||||||||||||||
Maverick Acquisition, Inc. (17) | Manufacturer of precision machined components for defense and high-tech industrial platforms | First lien senior secured loan ($47.3 par due 6/2027) | 7.00% (Libor + 6.00%/Q) | 6/1/2021 | 47.3 | 46.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
MB Aerospace Holdings II Corp. | Aerospace engine components manufacturer | First lien senior secured loan ($11.1 par due 1/2025) | 4.50% (Libor + 3.50%/Q) | 6/24/2021 | 10.4 | 10.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($68.4 par due 1/2026) | 10.00% (Libor + 9.00%/Q) | 1/22/2018 | 68.4 | 61.6 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($23.6 par due 1/2026) | 10.00% (Libor + 9.00%/Q) | 5/28/2019 | 23.6 | 21.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
102.4 | 93.2 | ||||||||||||||||||||||||||||||||||||||||||||||
NCWS Intermediate, Inc. and NCWS Holdings LP (17) | Manufacturer and supplier of car wash equipment, parts and supplies to the conveyorized car wash market | First lien senior secured loan ($11.1 par due 12/2026) | 7.50% (Libor + 6.50%/Q) | 12/29/2020 | 11.1 | 11.1 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Class A-2 common units (10,000,000 units) | 12/29/2020 | 10.0 | 18.0 | (2) | |||||||||||||||||||||||||||||||||||||||||||
21.1 | 29.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Osmose Utilities Services, Inc. and Pine Intermediate Holding LLC | Provider of structural integrity management services to transmission and distribution infrastructure | Second lien senior secured loan ($55.3 par due 6/2029) | 7.25% (Libor + 6.75%/M) | 6/23/2021 | 55.3 | 54.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Precinmac (US) Holdings Inc., Trimaster Manufacturing Inc. and Blade Group Holdings, LP. (17) | Manufacturer of high-tolerance precision machined components and assemblies for the aerospace and defense industry | First lien senior secured loan ($67.5 par due 8/2027) | 7.00% (Libor + 6.00%/M) | 8/31/2021 | 67.5 | 66.8 | (2)(6)(13) | ||||||||||||||||||||||||||||||||||||||||
Class A units (88,420 units) | 8/31/2021 | 13.4 | 13.4 | (2) | |||||||||||||||||||||||||||||||||||||||||||
80.9 | 80.2 | ||||||||||||||||||||||||||||||||||||||||||||||
Sunk Rock Foundry Partners LP, Hatteras Electrical Manufacturing Holding Company and Sigma Electric Manufacturing Corporation, Diecast Beacon (17) | Manufacturer of metal castings, precision machined components and sub-assemblies in the electrical products, power transmission and distribution and general industrial markets | First lien senior secured revolving loan | —% | 10/31/2017 | — | — | (15) | ||||||||||||||||||||||||||||||||||||||||
916.3 | 925.5 | 10.84 | % | ||||||||||||||||||||||||||||||||||||||||||||
Consumer Durables & Apparel | |||||||||||||||||||||||||||||||||||||||||||||||
Badger Sportswear Acquisition, Inc. | Provider of team uniforms and athletic wear | Second lien senior secured loan ($56.8 par due 3/2024) | 10.25% (Libor + 9.00%/Q) | 9/6/2016 | 56.8 | 54.5 | (2)(13) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
FPI Holding Corporation (8)(20) | Distributor of fruits | First lien senior secured loan ($0.6 par due 6/2018) | 1/3/2017 | 0.4 | 0.4 | (15) | ||||||||||||||
Gehl Foods, LLC and GF Parent LLC | Producer of low-acid, aseptic food and beverage products | First lien senior secured loan ($121.8 par due 6/2019) | 7.67% (Libor + 6.50%/Q) | 7/26/2017 | 121.8 | 121.8 | (2)(16) | |||||||||||||
Class A preferred units (2,940 units) | 5/13/2015 | 2.9 | 2.1 | (2) | ||||||||||||||||
Class A common units (60,000 units) | 5/13/2015 | 0.1 | — | (2) | ||||||||||||||||
Class B Common units (0.26 units) | 5/13/2015 | — | — | (2) | ||||||||||||||||
124.8 | 123.9 | |||||||||||||||||||
JWC/KI Holdings, LLC | Foodservice sales and marketing agency | Membership units (5,000 units) | 11/16/2015 | 5.0 | 5.2 | (2) | ||||||||||||||
Kettle Cuisine, LLC | Manufacturer of fresh refrigerated and frozen food products | Second lien senior secured loan ($28.5 par due 2/2022) | 10.99% (Libor + 9.75%/Q) | 8/21/2015 | 28.5 | 28.5 | (2)(16) | |||||||||||||
NECCO Holdings, Inc. (8)(20) | Producer and supplier of candy | First lien senior secured revolving loan ($19.2 par due 11/2017) | 1/3/2017 | 8.0 | 3.6 | (15) | ||||||||||||||
First lien senior secured loan ($10.4 par due 11/2017) | 1/3/2017 | 0.9 | 1.8 | (15) | ||||||||||||||||
Common stock (860,189 shares) | 1/3/2017 | — | — | |||||||||||||||||
8.9 | 5.4 | |||||||||||||||||||
RF HP SCF Investor, LLC | Branded specialty food company | Membership interest (10.08% interest) | 12/22/2016 | 12.5 | 14.0 | (2) | ||||||||||||||
Teasdale Foods, Inc. (20) | Provider of beans, sauces and hominy to the retail, foodservice and wholesale channels | First lien senior secured revolving loan ($0.2 par due 10/2020) | 8.00% (Base Rate + 3.75%/Q) | 6/30/2017 | 0.2 | 0.2 | (2)(16) | |||||||||||||
Second lien senior secured loan ($21.3 par due 10/2021) | 10.06% (Libor + 8.75%/Q) | 1/3/2017 | 21.3 | 21.3 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($33.6 par due 10/2021) | 10.08% (Libor + 8.75%/Q) | 1/3/2017 | 33.6 | 33.6 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($31.5 par due 10/2021) | 10.06% (Libor + 8.75%/Q) | 1/3/2017 | 31.5 | 31.5 | (2)(16) | |||||||||||||||
86.6 | 86.6 | |||||||||||||||||||
496.9 | 495.7 | 7.05 | % | |||||||||||||||||
Financial Services | ||||||||||||||||||||
AllBridge Financial, LLC (8) | Asset management services | Equity interests | 4/1/2010 | — | — | |||||||||||||||
Callidus Capital Corporation (8) | Asset management services | Common stock (100 shares) | 4/1/2010 | 3.0 | 1.7 | |||||||||||||||
Ciena Capital LLC (8)(20) | Real estate and small business loan servicer | First lien senior secured revolving loan ($14.0 par due 12/2017) | 6% | 11/29/2010 | 14.0 | 14.0 | (2) | |||||||||||||
Equity interests | 11/29/2010 | 25.0 | 15.7 | (2) | ||||||||||||||||
39.0 | 29.7 | |||||||||||||||||||
Commercial Credit Group, Inc. | Commercial equipment finance and leasing company | Senior subordinated loan ($28.0 par due 8/2022) | 11.00% (Libor + 9.75%/Q) | 5/10/2012 | 28.0 | 28.0 | (2)(16) | |||||||||||||
DFC Global Facility Borrower II LLC (20) | Non-bank provider of alternative financial services | First lien senior secured revolving loan ($71.3 par due 9/2022) | 11.99% (Libor + 10.75%/Q) | 9/27/2017 | 71.3 | 71.3 | (2)(16) | |||||||||||||
Financial Asset Management Systems, Inc. and FAMS Holdings, Inc. (7) | Debt collection services provider | Common stock (180 shares) | 1/11/2017 | — | — | (2) | ||||||||||||||
Gordian Group, LLC | Provider of products, services and software to organizations pursuing efficient and effective procurement and information solutions | Common stock (526 shares) | 11/30/2012 | — | — | (2) | ||||||||||||||
Imperial Capital Group LLC | Investment services | 2006 Class B common units (9,767 units) | 5/10/2007 | — | — | (2) | ||||||||||||||
2007 Class B common units (1,218 units) | 5/10/2007 | — | — | (2) | ||||||||||||||||
Class A common units (29,811 units) | 5/10/2007 | 7.2 | 11.6 | (2) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
Bowhunter Holdings, LLC | Provider of branded archery and bowhunting accessories | Common units (421 units) | 4/24/2014 | 4.2 | 0.6 | ||||||||||||||||||||||||||||||||||||||||||
Centric Brands LLC and Centric Brands GP LLC (17) | Designer, marketer and distributor of licensed and owned apparel | First lien senior secured revolving loan ($5.6 par due 10/2024) | 6.50% (Libor + 5.50%/Q) | 5/20/2020 | 5.6 | 5.6 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($66.3 par due 10/2025) | 11.00% PIK (Libor + 10.00%/Q) | 10/29/2018 | 66.1 | 64.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Membership interests (279,392 units) | 10/29/2018 | 2.9 | 7.8 | (2) | |||||||||||||||||||||||||||||||||||||||||||
74.6 | 77.7 | ||||||||||||||||||||||||||||||||||||||||||||||
DRS Holdings III, Inc. and DRS Holdings I, Inc. (17) | Footwear and orthopedic foot-care brand | First lien senior secured loan ($29.9 par due 11/2025) | 7.25% (Libor + 6.25%/Q) | 11/1/2019 | 29.9 | 29.9 | (13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($77.6 par due 11/2025) | 7.25% (Libor + 6.25%/Q) | 6/1/2021 | 77.6 | 77.6 | (13) | ||||||||||||||||||||||||||||||||||||||||||
Common stock (8,549 shares) | 11/1/2019 | 8.5 | 10.2 | (2) | |||||||||||||||||||||||||||||||||||||||||||
116.0 | 117.7 | ||||||||||||||||||||||||||||||||||||||||||||||
Implus Footcare, LLC | Provider of footwear and other accessories | First lien senior secured loan ($117.8 par due 4/2024) | 8.75% (Libor + 7.75%/Q) | 6/1/2017 | 117.8 | 108.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.3 par due 4/2024) | 8.75% (Libor + 7.75%/Q) | 6/30/2016 | 1.3 | 1.2 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($5.0 par due 4/2024) | 8.75% (Libor + 7.75%/Q) | 7/17/2018 | 5.0 | 4.6 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
124.1 | 114.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Lew's Intermediate Holdings, LLC (17) | Outdoor brand holding company | First lien senior secured revolving loan ($0.6 par due 2/2026) | 4.13% (Libor + 4.00%/Q) | 2/11/2021 | 0.6 | 0.6 | (2) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.0 par due 2/2028) | 5.75% (Libor + 5.00%/Q) | 2/11/2021 | 1.0 | 1.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
1.6 | 1.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Pelican Products, Inc. | Flashlights manufacturer | Second lien senior secured loan ($27.3 par due 5/2026) | 8.75% (Libor + 7.75%/Q) | 5/4/2018 | 27.2 | 27.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Rawlings Sporting Goods Company, Inc. and Easton Diamond Sports, LLC | Sports equipment manufacturing company | First lien senior secured loan ($93.4 par due 12/2026) | 7.50% (Libor + 6.50%/Q) | 12/31/2020 | 93.4 | 93.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Reef Lifestyle, LLC (17) | Apparel retailer | First lien senior secured revolving loan ($4.3 par due 10/2024) | 8.5% (Libor + 5.75% Cash, 2.00% PIK/M) | 10/26/2018 | 4.3 | 4.3 | (2)(13)(16) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured revolving loan ($0.6 par due 10/2024) | 8.50% (Libor + 5.50% Cash, 2.00% PIK/Q) | 7/31/2020 | 0.6 | 0.6 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($25.2 par due 10/2024) | 8.75% (Libor + 5.75% Cash, 2.00% PIK/Q) | 10/26/2018 | 25.2 | 25.2 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.0 par due 10/2024) | 8.75% (Libor + 7.75%/Q) | 7/31/2020 | 1.0 | 1.0 | (13) | ||||||||||||||||||||||||||||||||||||||||||
31.1 | 31.1 | ||||||||||||||||||||||||||||||||||||||||||||||
S Toys Holdings LLC (fka The Step2 Company, LLC) (5) | Toy manufacturer | Class B common units (126,278,000 units) | 10/30/2014 | — | 0.3 | ||||||||||||||||||||||||||||||||||||||||||
Common units (1,116,879 units) | 4/1/2011 | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 3,157,895 units | 4/1/2010 | — | — | ||||||||||||||||||||||||||||||||||||||||||||
— | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||
SHO Holding I Corporation | Manufacturer and distributor of slip resistant footwear | Second lien senior secured loan ($113.5 par due 10/2024) | 10.29% PIK (Libor + 9.29%/B) | 10/27/2015 | 112.7 | 96.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Shock Doctor, Inc. and Shock Doctor Holdings, LLC (4)(17) | Developer, marketer and distributor of sports protection equipment and accessories | First lien senior secured revolving loan ($1.2 par due 5/2024) | 6.00% (Libor + 5.00%/M) | 5/21/2019 | 1.2 | 1.2 | (2)(13)(16) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($19.2 par due 5/2024) | 6.00% (Libor + 5.00%/Q) | 5/21/2019 | 19.2 | 19.2 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Class A preferred units (50,000 units) | 3/14/2014 | 5.0 | — | (2) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
7.2 | 11.6 | |||||||||||||||||||
Ivy Hill Asset Management, L.P. (8)(10) | Asset management services | Member interest (100.00% interest) | 6/15/2009 | 244.0 | 296.4 | |||||||||||||||
Javlin Three LLC, Javlin Four LLC, and Javlin Five LLC (10) | Asset-backed financial services company | First lien senior secured loan ($20.2 par due 6/2017) | 11.24% (Libor + 10.00%/Q) | 6/24/2014 | 20.2 | 17.2 | (2) | |||||||||||||
LS DE LLC and LM LSQ Investors LLC (10) | Asset based lender | Senior subordinated loan ($3.0 par due 6/2021) | 10.5% | 6/15/2017 | 3.0 | 3.0 | (2) | |||||||||||||
Senior subordinated loan ($27.0 par due 6/2021) | 10.5% | 6/25/2015 | 27.0 | 27.0 | (2) | |||||||||||||||
Membership units (3,275,000 units) | 6/25/2015 | 3.3 | 3.8 | |||||||||||||||||
33.3 | 33.8 | |||||||||||||||||||
446.0 | 489.7 | 6.97 | % | |||||||||||||||||
Education | ||||||||||||||||||||
Campus Management Acquisition Corp. (7) | Education software developer | Preferred stock (485,159 shares) | 2/8/2008 | 10.5 | 7.4 | (2) | ||||||||||||||
Excelligence Holdings Corp. | Developer, manufacturer and retailer of educational products | First lien senior secured loan ($10.0 par due 4/2023) | 7.24% (Libor + 6.00%/Q) | 4/17/2017 | 10.0 | 9.7 | (4)(16) | |||||||||||||
Flinn Scientific, Inc. and WCI-Quantum Holdings, Inc. | Distributor of instructional products, services and resources | First lien senior secured loan ($1.0 par due 10/2020) | 5.99% (Libor + 5.00%/Q) | 7/26/2017 | 1.0 | 1.0 | (2)(16) | |||||||||||||
First lien senior secured loan ($40.4 par due 10/2020) | 6.42% (Libor + 5.00%/Q) | 7/26/2017 | 40.4 | 40.4 | (2)(16) | |||||||||||||||
First lien senior secured loan ($34.3 par due 10/2020) | 6.50% (Libor + 5.00%/Q) | 7/26/2017 | 34.3 | 34.3 | (2)(16) | |||||||||||||||
Series A preferred stock (1,272 shares) | 10/24/2014 | 1.0 | 1.1 | (2) | ||||||||||||||||
76.7 | 76.8 | |||||||||||||||||||
Frontline Technologies Group Holding LLC, Frontline Technologies Blocker Buyer, Inc., Frontline Technologies Holdings, LLC and Frontline Technologies Parent, LLC (20) | Provider of human capital management (“HCM”) and SaaS-based software solutions to employees and administrators of K-12 school organizations | First lien senior secured loan ($60.3 par due 9/2023) | 7.82% (Libor + 6.50%/Q) | 9/19/2017 | 59.4 | 59.4 | (2)(16) | |||||||||||||
Class A preferred units (4,574 units) | 9/18/2017 | 4.6 | 4.5 | |||||||||||||||||
Class B units (499,050 units) | 9/18/2017 | — | — | |||||||||||||||||
64.0 | 63.9 | |||||||||||||||||||
Infilaw Holding, LLC (20) | Operator of for-profit law schools | First lien senior secured revolving loan ($4.5 par due 2/2018) | 8/25/2011 | 4.5 | 1.0 | (2)(15)(19) | ||||||||||||||
Series A preferred units (1.25 units) | 8/25/2011 | 128.1 | — | (2)(15) | ||||||||||||||||
Series A-1 preferred units (0.03 units) | 7/29/2016 | 2.5 | — | (2) | ||||||||||||||||
Series B preferred units (0.39 units) | 10/19/2012 | 9.2 | — | (2) | ||||||||||||||||
144.3 | 1.0 | |||||||||||||||||||
Instituto de Banca y Comercio, Inc. & Leeds IV Advisors, Inc. (20) | Private school operator | First lien senior secured revolving loan ($11.5 par due 5/2018) | 12.25% (Base Rate + 8.00%/Q) | 5/18/2017 | 11.5 | 11.5 | (2)(16) | |||||||||||||
First lien senior secured loan ($3.1 par due 12/2018) | 10.50% (Libor + 9.00%/Q) | 10/31/2015 | 3.1 | 3.1 | (2)(16) | |||||||||||||||
Series B preferred stock (1,750,000 shares) | 8/5/2010 | 5.0 | — | (2) | ||||||||||||||||
Series C preferred stock (2,512,586 shares) | 6/7/2010 | 0.7 | — | (2) | ||||||||||||||||
Senior preferred series A-1 shares (163,902 shares) | 10/31/2015 | 119.4 | 32.0 | (2) | ||||||||||||||||
Common stock (16 shares) | 6/7/2010 | — | — | (2) | ||||||||||||||||
Common stock (4 shares) | 6/7/2010 | — | — | (2) | ||||||||||||||||
139.7 | 46.6 |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
Class C preferred units (50,000 units) | 4/22/2015 | 5.0 | — | (2) | |||||||||||||||||||||||||||||||||||||||||||
Preferred units (14,591 units) | 5/14/2019 | 1.6 | 1.7 | (2) | |||||||||||||||||||||||||||||||||||||||||||
32.0 | 22.1 | ||||||||||||||||||||||||||||||||||||||||||||||
SVP-Singer Holdings Inc. and SVP-Singer Holdings LP | Manufacturer of consumer sewing machines | First lien senior secured loan ($45.0 par due 7/2028) | 7.50% (Libor + 6.75%/Q) | 7/30/2021 | 43.8 | 41.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Class A common units (6,264,706 units) | 7/30/2021 | 26.1 | 26.1 | (2) | |||||||||||||||||||||||||||||||||||||||||||
69.9 | 68.0 | ||||||||||||||||||||||||||||||||||||||||||||||
Totes Isotoner Corporation and Totes Ultimate Holdco, Inc. (4) | Designer, marketer, and distributor of rain and cold weather products | First lien senior secured loan ($2.2 par due 12/2024) | 7.00% (Libor + 6.00%/Q) | 12/23/2019 | 2.2 | 2.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.6 par due 6/2024) | 5.00% (Libor + 4.00%/Q) | 12/23/2019 | 1.6 | 1.6 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Common stock (861,000 shares) | 12/23/2019 | 6.0 | 1.4 | (2) | |||||||||||||||||||||||||||||||||||||||||||
9.8 | 5.0 | ||||||||||||||||||||||||||||||||||||||||||||||
Varsity Brands Holding Co., Inc. and BCPE Hercules Holdings, LP | Leading manufacturer and distributor of textiles, apparel & luxury goods | Second lien senior secured loan ($21.1 par due 12/2025) | 9.25% (Libor + 8.25%/M) | 7/30/2018 | 21.1 | 20.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($122.7 par due 12/2025) | 9.25% (Libor + 8.25%/M) | 12/15/2017 | 122.7 | 117.8 | (13) | ||||||||||||||||||||||||||||||||||||||||||
Class A units (1,400 units) | 7/30/2018 | 1.4 | 0.7 | (2) | |||||||||||||||||||||||||||||||||||||||||||
145.2 | 138.8 | ||||||||||||||||||||||||||||||||||||||||||||||
898.6 | 848.7 | 9.94 | % | ||||||||||||||||||||||||||||||||||||||||||||
Automobiles & Components | |||||||||||||||||||||||||||||||||||||||||||||||
Automotive Keys Group, LLC and Automotive Keys Investor, LLC | Provider of replacement wireless keys for automotive market | Preferred units (4,113,113 units) | 9.00% PIK | 11/6/2020 | 4.4 | 4.4 | (2) | ||||||||||||||||||||||||||||||||||||||||
Class A common units (4,113,113 units) | 11/6/2020 | — | 0.3 | (2) | |||||||||||||||||||||||||||||||||||||||||||
4.4 | 4.7 | ||||||||||||||||||||||||||||||||||||||||||||||
Wand Newco 3, Inc. | Collision repair company | Second lien senior secured loan ($180.2 par due 2/2027) | 7.34% (Libor + 7.25%/M) | 2/5/2019 | 178.1 | 180.2 | (2) | ||||||||||||||||||||||||||||||||||||||||
Continental Acquisition Holdings, Inc. (17) | Distributor of aftermarket batteries to the electric utility vehicle, automotive, commercial, marine and industrial markets | First lien senior secured loan ($26.8 par due 1/2027) | 7.00% (Libor + 6.00%/Q) | 1/20/2021 | 26.8 | 26.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Eckler Industries, Inc. and Eckler Purchaser LLC (5)(17) | Restoration parts and accessories provider for classic automobiles | First lien senior secured revolving loan ($5.0 par due 5/2022) | 12.00% PIK | 7/12/2012 | 5.0 | 4.4 | (2) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($25.5 par due 5/2022) | 12.00% PIK | 7/12/2012 | 25.5 | 22.2 | (2) | ||||||||||||||||||||||||||||||||||||||||||
Class A common units (67,972 units) | 7/12/2012 | 16.4 | — | (2) | |||||||||||||||||||||||||||||||||||||||||||
46.9 | 26.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Faraday&Future Inc., FF Inc., Faraday SPE, LLC and Faraday Future Intelligent Electric Inc. | Electric vehicle manufacturer | Second lien senior secured loan ($80.3 par due 3/2022) | 14.00% PIK | 3/1/2021 | 78.0 | 80.3 | (2) | ||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 633,008 shares of Class A common stock (expires 8/2027) | 8/5/2021 | 2.3 | 2.3 | (2) | |||||||||||||||||||||||||||||||||||||||||||
80.3 | 82.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Highline Aftermarket Acquisition, LLC, Highline Aftermarket SC Acquisition, Inc. and Highline PPC Blocker LLC (17) | Manufacturer and distributor of automotive fluids | First lien senior secured revolving loan ($4.0 par due 11/2025) | 3.83% (Libor + 3.75%/M) | 11/9/2020 | 4.0 | 3.9 | (2)(16) | ||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($70.4 par due 11/2028) | 8.75% (Libor + 8.00%/Q) | 11/9/2020 | 70.4 | 69.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Co-invest units (59,230 units) | 11/4/2020 | 5.9 | 4.6 |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
Lakeland Tours, LLC (20) | Educational travel provider | First lien senior secured revolving loan ($7.1 par due 2/2022) | 6.07% (Libor + 4.75%/Q) | 2/10/2016 | 7.1 | 7.1 | (2)(16)(19) | |||||||||||||
First lien senior secured loan ($4.9 par due 2/2022) | 6.05% (Libor + 4.75%/Q) | 2/10/2016 | 4.9 | 4.9 | (2)(16) | |||||||||||||||
First lien senior secured loan ($0.9 par due 2/2022) | 6.01% (Libor + 4.75%/Q) | 5/16/2017 | 0.9 | 0.9 | (2)(16) | |||||||||||||||
First lien senior secured loan ($0.6 par due 2/2022) | 10.73% (Libor + 9.47%/Q) | 5/16/2017 | 0.6 | 0.6 | (2)(16) | |||||||||||||||
First lien senior secured loan ($31.7 par due 2/2022) | 10.73% (Libor + 9.47%/Q) | 2/10/2016 | 31.4 | 31.7 | (3)(16) | |||||||||||||||
44.9 | 45.2 | |||||||||||||||||||
Liaison Acquisition, LLC (20) | Provider of centralized applications services to educational associations | First lien senior secured revolving loan ($1.2 par due 2/2022) | 6.49% (Libor + 5.25%/Q) | 2/8/2017 | 1.2 | 1.2 | (2)(16) | |||||||||||||
Second lien senior secured loan ($15.0 par due 8/2023) | 10.49% (Libor + 9.25%/Q) | 2/9/2017 | 14.7 | 15.0 | (2)(16) | |||||||||||||||
15.9 | 16.2 | |||||||||||||||||||
PIH Corporation and Primrose Holding Corporation (7)(20) | Franchisor of education-based early childhood centers | First lien senior secured revolving loan ($0.6 par due 12/2018) | 6.50% (Libor + 5.25%/Q) | 12/13/2013 | 0.6 | 0.6 | (2)(16) | |||||||||||||
Common stock (7,227 shares) | 1/3/2017 | 17.0 | 23.0 | |||||||||||||||||
17.6 | 23.6 | |||||||||||||||||||
R3 Education Inc., Equinox EIC Partners LLC and Sierra Education Finance Corp. | Medical school operator | Preferred stock (1,977 shares) | 7/30/2008 | 0.5 | 0.5 | (2) | ||||||||||||||
Common membership interest (15.76% interest) | 9/21/2007 | 15.8 | 35.3 | (2) | ||||||||||||||||
Warrant to purchase up to 27,890 shares (expires 11/2019) | 12/8/2009 | — | 0.1 | (2) | ||||||||||||||||
16.3 | 35.9 | |||||||||||||||||||
Regent Education, Inc. | Provider of software solutions designed to optimize the financial aid and enrollment processes | First lien senior secured loan ($3.2 par due 1/2021) | 12.00% (Libor + 8.00% Cash, 2.00% PIK/M) | 7/1/2014 | 3.1 | 3.2 | (2) | |||||||||||||
First lien senior secured loan ($0.1 par due 1/2021) | 7/1/2014 | 0.1 | 0.1 | (2) | ||||||||||||||||
Warrant to purchase up to 987 shares of common stock (expires 12/2026) | 12/23/2016 | — | — | (2) | ||||||||||||||||
Warrant to purchase up to 5,393,194 shares of common stock (expires 12/2026) | 12/23/2016 | — | — | (2) | ||||||||||||||||
3.2 | 3.3 | |||||||||||||||||||
RuffaloCODY, LLC (20) | Provider of student fundraising and enrollment management services | First lien senior secured revolving loan | — | 5/29/2013 | — | — | (18) | |||||||||||||
Severin Acquisition, LLC (20) | Provider of student information system software solutions to the K-12 education market | Second lien senior secured loan ($38.7 par due 7/2022) | 9.99% (Libor + 8.75%/Q) | 2/1/2017 | 37.9 | 38.7 | (2)(16) | |||||||||||||
Second lien senior secured loan ($3.1 par due 7/2022) | 10.24% (Libor + 9.00%/Q) | 1/3/2017 | 3.1 | 3.1 | (16) | |||||||||||||||
Second lien senior secured loan ($3.1 par due 7/2022) | 10.24% (Libor + 9.00%/Q) | 10/142016 | 3.1 | 3.1 | (16) | |||||||||||||||
Second lien senior secured loan ($5.5 par due 7/2022) | 9.99% (Libor + 8.75%/Q) | 1/3/2017 | 5.5 | 5.5 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($4.2 par due 7/2022) | 9.99% (Libor + 8.75%/Q) | 10/28/2015 | 4.1 | 4.2 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($20.0 par due 7/2022) | 9.99% (Libor + 8.75%/Q) | 1/3/2017 | 20.0 | 20.0 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($15.0 par due 7/2022) | 9.99% (Libor + 8.75%/Q) | 7/31/2015 | 14.8 | 15.0 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($4.4 par due 7/2022) | 10.49% (Libor + 9.25%/Q) | 1/3/2017 | 4.4 | 4.4 | (2)(16) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
80.3 | 78.2 | ||||||||||||||||||||||||||||||||||||||||||||||
Mac Lean-Fogg Company and MacLean-Fogg Holdings, L.L.C. | Manufacturer and supplier for the power utility and automotive markets worldwide | First lien senior secured loan ($151.8 par due 12/2025) | 5.38% (Libor + 4.75%/M) | 12/21/2018 | 151.4 | 151.8 | (13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($19.2 par due 12/2025) | 5.38% (Libor + 4.75%/M) | 12/21/2018 | 19.2 | 19.2 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Preferred units (59,453 units) | 4.50% Cash, 9.25% PIK | 10/9/2015 | 74.3 | 74.3 | |||||||||||||||||||||||||||||||||||||||||||
244.9 | 245.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Mavis Tire Express Services Topco Corp., Metis HoldCo, Inc., and Metis TopCo, LP (17) | Auto parts retailer | First lien senior secured revolving loan | —% | 5/4/2021 | — | — | (15) | ||||||||||||||||||||||||||||||||||||||||
Series A preferred stock (68,601 shares) | 7.00% PIK | 5/4/2021 | 70.6 | 68.4 | (2) | ||||||||||||||||||||||||||||||||||||||||||
Class A-1 units (24,586 units) | 5/4/2021 | 24.6 | 24.6 | (2) | |||||||||||||||||||||||||||||||||||||||||||
95.2 | 93.0 | ||||||||||||||||||||||||||||||||||||||||||||||
McLaren Group Limited | Automobile manufacturer and retailer | Senior preference shares (200,000 shares) | 12.50% PIK | 8/2/2021 | 20.7 | 26.9 | (2)(6) | ||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 49,181 ordinary shares (expires 8/2028) | 8/2/2021 | 5.5 | 5.3 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 13,776 ordinary shares (expires 8/2028) | 8/2/2021 | 1.6 | 1.5 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||||
27.8 | 33.7 | ||||||||||||||||||||||||||||||||||||||||||||||
SK SPV IV, LLC | Collision repair site operator | Series A common stock (12,500 units) | 8/18/2014 | 0.6 | — | (2) | |||||||||||||||||||||||||||||||||||||||||
Series B common stock (12,500 units) | 8/18/2014 | 0.6 | — | (2) | |||||||||||||||||||||||||||||||||||||||||||
1.2 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Sun Acquirer Corp. and Sun TopCo, LP (17) | Automotive parts and repair services retailer | First lien senior secured loan ($57.0 par due 9/2028) | 6.50% (Libor + 5.75%/Q) | 9/8/2021 | 57.0 | 56.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.9 par due 9/2028) | 8.00% (Base Rate + 4.75%/Q) | 9/8/2021 | 1.9 | 1.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Class A units (69,990 units) | 9/8/2021 | 7.0 | 7.0 | (2) | |||||||||||||||||||||||||||||||||||||||||||
65.9 | 65.4 | ||||||||||||||||||||||||||||||||||||||||||||||
851.8 | 836.5 | 9.80 | % | ||||||||||||||||||||||||||||||||||||||||||||
Power Generation | |||||||||||||||||||||||||||||||||||||||||||||||
Ferrellgas, L.P. | Distributor of propane and related accessories | Senior preferred units (55,708 units) | 8.96% | 3/30/2021 | 55.7 | 55.7 | |||||||||||||||||||||||||||||||||||||||||
Green Energy Partners, Stonewall LLC and Panda Stonewall Intermediate Holdings II LLC | Gas turbine power generation facilities operator | First lien senior secured loan ($39.0 par due 11/2021) | 6.50% (Libor + 5.50%/Q) | 2/8/2021 | 38.5 | 36.6 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($33.6 par due 11/2021) | 6.50% (Libor + 5.50%/Q) | 11/13/2014 | 33.3 | 31.6 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Senior subordinated loan ($153.0 par due 12/2021) | 11/13/2014 | 132.7 | 82.7 | (2)(12) | |||||||||||||||||||||||||||||||||||||||||||
204.5 | 150.9 | ||||||||||||||||||||||||||||||||||||||||||||||
Heelstone Renewable Energy, LLC (5)(17) | Provider of cloud based IT solutions, infrastructure and services | First lien senior secured loan ($36.0 par due 4/2024) | 8.00% (Libor + 7.00%/Q) | 4/14/2021 | 36.0 | 36.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Class A1 units (100 units) | 4/14/2021 | 23.2 | 46.6 | ||||||||||||||||||||||||||||||||||||||||||||
59.2 | 82.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Navisun LLC and Navisun Holdings LLC (5)(17) | Owner and operater of commercial and industrial solar projects | First lien senior secured loan ($53.4 par due 11/2023) | 8.00% PIK | 11/15/2017 | 53.4 | 53.4 | (2) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($14.9 par due 11/2023) | 9.00% PIK | 3/7/2019 | 14.9 | 14.9 | (2) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($39.7 par due 11/2023) | 5.00% Cash, 3.00% PIK | 8/15/2019 | 39.7 | 39.7 | (2) | ||||||||||||||||||||||||||||||||||||||||||
Series A preferred units (1,000 units) | 10.50% PIK | 11/15/2017 | 13.6 | 14.9 |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
Second lien senior secured loan ($3.3 par due 7/2022) | 10.49% (Libor + 9.25%/Q) | 2/1/2016 | 3.2 | 3.3 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($2.8 par due 7/2022) | 10.49% (Libor + 9.25%/Q) | 1/3/2017 | 2.8 | 2.8 | (16) | |||||||||||||||
Second lien senior secured loan ($2.8 par due 7/2022) | 10.49% (Libor + 9.25%/Q) | 8/8/2016 | 2.8 | 2.8 | (16) | |||||||||||||||
101.7 | 103.0 | |||||||||||||||||||
644.8 | 432.6 | 6.15 | % | |||||||||||||||||
Power Generation | ||||||||||||||||||||
Alphabet Energy, Inc. | Technology developer to convert waste-heat into electricity | First lien senior secured loan ($3.4 par due 8/2017) | 12/16/2013 | 3.3 | 0.7 | (2)(15) | ||||||||||||||
Series 1B preferred stock (12,976 shares) | 6/21/2016 | 0.2 | — | (2) | ||||||||||||||||
Warrant to purchase up to 125,000 shares of Series 2 preferred stock (expires 12/2023) | 6/30/2016 | 0.1 | — | (2) | ||||||||||||||||
3.6 | 0.7 | |||||||||||||||||||
CPV Maryland Holding Company II, LLC | Gas turbine power generation facilities operator | Senior subordinated loan ($45.0 par due 12/2020) | 5.00% Cash, 5.00% PIK | 8/8/2014 | 45.0 | 41.4 | (2) | |||||||||||||
Warrant to purchase up to 4 units of common stock (expires 8/2018) | 8/8/2014 | — | — | (2) | ||||||||||||||||
45.0 | 41.4 | |||||||||||||||||||
DESRI VI Management Holdings, LLC | Wind power generation facility operator | Senior subordinated loan ($13.9 par due 12/2021) | 10% | 12/24/2014 | 13.9 | 13.9 | (2) | |||||||||||||
Green Energy Partners, Stonewall LLC and Panda Stonewall Intermediate Holdings II LLC | Gas turbine power generation facilities operator | First lien senior secured loan ($25.0 par due 11/2021) | 6.83% (Libor + 5.50%/Q) | 11/13/2014 | 24.8 | 23.8 | (2)(16) | |||||||||||||
Senior subordinated loan ($20.2 par due 12/2021) | 8.00% Cash, 5.25% PIK | 11/13/2014 | 20.2 | 19.2 | (2) | |||||||||||||||
Senior subordinated loan ($94.6 par due 12/2021) | 8.00% Cash, 5.25% PIK | 11/13/2014 | 94.6 | 89.8 | (2) | |||||||||||||||
139.6 | 132.8 | |||||||||||||||||||
Joule Unlimited Technologies, Inc. and Stichting Joule Global Foundation | Renewable fuel and chemical production developer | First lien senior secured loan ($8.5 par due 10/2018) | 3/31/2015 | 8.1 | 0.5 | (2)(15) | ||||||||||||||
Warrant to purchase up to 32,051 shares of Series C-2 preferred stock (expires 7/2023) | 7/25/2013 | — | — | (2)(9) | ||||||||||||||||
8.1 | 0.5 | |||||||||||||||||||
La Paloma Generating Company, LLC | Natural gas fired, combined cycle plant operator | Second lien senior secured loan ($10.0 par due 2/2020) | 2/20/2014 | 8.8 | — | (2)(15) | ||||||||||||||
Moxie Patriot LLC | Gas turbine power generation facilities operator | First lien senior secured loan ($34.0 par due 12/2020) | 7.08% (Libor + 5.75%/Q) | 12/19/2013 | 33.8 | 31.8 | (2)(16) | |||||||||||||
Panda Liberty LLC (fka Moxie Liberty LLC) | Gas turbine power generation facilities operator | First lien senior secured loan ($5.0 par due 8/2020) | 7.83% (Libor + 6.50%/Q) | 5/8/2017 | 4.6 | 4.5 | (2)(16) | |||||||||||||
First lien senior secured loan ($34.4 par due 8/2020) | 7.83% (Libor + 6.50%/Q) | 8/21/2013 | 34.3 | 30.8 | (2)(16) | |||||||||||||||
38.9 | 35.3 | |||||||||||||||||||
Panda Temple Power II, LLC | Gas turbine power generation facilities operator | First lien senior secured loan ($19.6 par due 4/2019) | 7.33% (Libor + 6.00%/Q) | 4/3/2013 | 19.6 | 17.5 | (2)(16) | |||||||||||||
Panda Temple Power, LLC | Gas turbine power generation facilities operator | First lien senior secured revolving loan ($2.3 par due 4/2018) | 10.23% (Libor + 9.00%/Q) | 4/28/2017 | 2.3 | 2.3 | (2)(16) | |||||||||||||
First lien senior secured loan ($24.8 par due 3/2022) | 3/6/2015 | 23.6 | 17.6 | (2)(15) | ||||||||||||||||
25.9 | 19.9 | |||||||||||||||||||
PERC Holdings 1 LLC | Operator of recycled energy, combined heat and power, and energy efficiency facilities | Class B common units (21,653,543 units) | 10/20/2014 | 21.7 | 25.6 | (2) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
Class A units (550 units) | 11/15/2017 | — | 9.2 | ||||||||||||||||||||||||||||||||||||||||||||
121.6 | 132.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Opal Fuels LLC | Owner of natural gas facilities | Senior subordinated loan ($51.7 par due 12/2026) | 8.00% PIK | 5/1/2021 | 42.4 | 41.5 | |||||||||||||||||||||||||||||||||||||||||
PosiGen, Inc. | Seller and leaser of solar power systems for residential and commercial customers | Warrant to purchase up to 1,112,022 shares of common stock (expires 1/2027) | 6/10/2021 | — | — | (2) | |||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 101,555 shares of series D-1 preferred stock (expires 6/2028) | 1/29/2020 | — | — | (2) | |||||||||||||||||||||||||||||||||||||||||||
— | — | ||||||||||||||||||||||||||||||||||||||||||||||
Riverview Power LLC | Operator of natural gas and oil fired power generation facilities | First lien senior secured loan ($72.5 par due 6/2024) | 10.00% (Libor + 9.00%/Q) | 8/30/2021 | 72.0 | 72.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
SE1 Generation, LLC | Solar power developer | Senior subordinated loan ($58.0 par due 12/2022) | 4.00% Cash, 5.50% PIK | 12/17/2019 | 58.0 | 55.1 | (2) | ||||||||||||||||||||||||||||||||||||||||
Sunrun Atlas Depositor 2019-2, LLC and Sunrun Atlas Holdings 2019-2, LLC | Residential solar energy provider | First lien senior secured loan ($0.1 par due 2/2055) | 3.61% | 10/28/2019 | 0.1 | 0.1 | (2) | ||||||||||||||||||||||||||||||||||||||||
Senior subordinated loan ($141.0 par due 11/2025) | 8.75% (Libor + 2.75% Cash, 4.00% PIK/Q) | 11/26/2019 | 141.0 | 141.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
141.1 | 141.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Sunrun Xanadu Issuer 2019-1, LLC and Sunrun Xanadu Holdings 2019-1, LLC | Residential solar energy provider | First lien senior secured loan ($0.4 par due 6/2054) | 3.98% | 6/7/2019 | 0.4 | 0.4 | (2) | ||||||||||||||||||||||||||||||||||||||||
Senior subordinated loan ($68.8 par due 7/2030) | 8.75% (Libor + 3.98% Cash, 2.77% PIK/Q) | 6/27/2019 | 68.8 | 68.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
69.2 | 69.2 | ||||||||||||||||||||||||||||||||||||||||||||||
T1 Power Holdings LLC (4) | Gas turbine power generation facilities operator | Class A common units (616,122 shares) | 3/6/2015 | 15.0 | 25.8 | ||||||||||||||||||||||||||||||||||||||||||
838.7 | 826.5 | 9.68 | % | ||||||||||||||||||||||||||||||||||||||||||||
Consumer Services | |||||||||||||||||||||||||||||||||||||||||||||||
ADF Capital, Inc., ADF Restaurant Group, LLC, and ARG Restaurant Holdings, Inc. (5) | Restaurant owner and operator | First lien senior secured loans ($106.6 par due 12/2022) | 11/27/2006 | — | — | (2)(12) | |||||||||||||||||||||||||||||||||||||||||
Aimbridge Acquisition Co., Inc. | Hotel operator | Second lien senior secured loan ($22.5 par due 2/2027) | 7.59% (Libor + 7.50%/M) | 2/1/2019 | 22.2 | 21.2 | (2) | ||||||||||||||||||||||||||||||||||||||||
American Residential Services L.L.C. and Aragorn Parent Holdings LP (17) | Heating, ventilation and air conditioning services provider | Second lien senior secured loan ($56.4 par due 10/2028) | 9.50% (Libor + 8.50%/Q) | 10/15/2020 | 56.4 | 56.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Series A preferred units (2,531,500 units) | 10.00% PIK | 10/15/2020 | 2.6 | 3.2 | (2) | ||||||||||||||||||||||||||||||||||||||||||
59.0 | 59.6 | ||||||||||||||||||||||||||||||||||||||||||||||
ATI Restoration, LLC (17) | Provider of disaster recovery services | First lien senior secured revolving loan ($3.3 par due 7/2026) | 6.00% (Libor + 5.00%/Q) | 7/31/2020 | 3.3 | 3.3 | (2)(13)(16) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($33.4 par due 7/2026) | 6.00% (Libor + 5.00%/Q) | 7/31/2020 | 33.4 | 33.4 | (13) | ||||||||||||||||||||||||||||||||||||||||||
36.7 | 36.7 | ||||||||||||||||||||||||||||||||||||||||||||||
Belfor Holdings, Inc. (17) | Disaster recovery services provider | First lien senior secured revolving loan ($6.3 par due 4/2024) | 3.58% (Libor + 3.50%/Q) | 4/4/2019 | 6.3 | 6.3 | (2)(16) | ||||||||||||||||||||||||||||||||||||||||
Cipriani USA, Inc. and Cipriani Group Holding S.A.R.L. (17) | Manager and operator of banquet facilities, restaurants, hotels and other leisure properties | First lien senior secured loan ($68.2 par due 5/2023) | 11.75% (Libor + 10.75%/Q) | 5/30/2018 | 67.2 | 60.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($12.2 par due 5/2023) | 11.75% (Libor + 10.75%/Q) | 11/5/2018 | 12.2 | 10.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($15.0 par due 5/2023) | 11.75% (Libor + 10.75%/Q) | 7/3/2019 | 14.8 | 13.2 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($20.0 par due 5/2023) | 11.75% (Libor + 10.75%/Q) | 12/27/2019 | 18.7 | 17.6 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($3.0 par due 5/2023) | 11.75% (Libor + 10.75%/Q) | 8/20/2018 | 3.0 | 2.7 | (2)(13) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
Riverview Power LLC | Operator of natural gas and oil fired power generation facilities | First lien senior secured loan ($99.3 par due 12/2022) | 9.33% (Libor + 8.00%/Q) | 12/29/2016 | 96.9 | 99.3 | (2)(16) | |||||||||||||
455.8 | 418.7 | 5.96 | % | |||||||||||||||||
Automotive Services | ||||||||||||||||||||
A.U.L. Corp. (20) | Provider of vehicle service contracts (“VSCs”) and limited warranties for passenger vehicles | First lien senior secured loan ($7.9 par due 6/2023) | 6.38% (Libor + 5.00%/Q) | 6/7/2017 | 7.9 | 7.7 | (2)(16) | |||||||||||||
AEP Holdings, Inc. and Arrowhead Holdco Company | Distributor of non-discretionary, mission-critical aftermarket replacement parts | First lien senior secured loan ($0.1 par due 8/2021) | 6.99% (Libor + 5.75%/Q) | 7/21/2017 | 0.1 | 0.1 | (2)(16) | |||||||||||||
First lien senior secured loan ($3.0 par due 8/2021) | 7.03% (Libor + 5.75%/Q) | 7/21/2017 | 3.0 | 3.0 | (2)(16) | |||||||||||||||
First lien senior secured loan ($0.7 par due 8/2021) | 7.01% (Libor + 5.75%/Q) | 7/21/2017 | 0.7 | 0.7 | (2)(16) | |||||||||||||||
First lien senior secured loan ($0.8 par due 8/2021) | 7.05% (Libor + 5.75%/Q) | 7/21/2017 | 0.8 | 0.8 | (2)(16) | |||||||||||||||
First lien senior secured loan ($0.0 par due 8/2021) | 9.00% (Base Rate + 4.75%/Q) | 7/21/2017 | — | — | (2)(16) | |||||||||||||||
Common stock (3,467 shares) | 8/31/2015 | 3.5 | 4.1 | (2) | ||||||||||||||||
8.1 | 8.7 | |||||||||||||||||||
ChargePoint, Inc. | Developer and operator of electric vehicle charging stations | Second lien senior secured loan ($20.0 par due 8/2020) | 10.05% (Libor + 8.75%/M) | 12/24/2014 | 19.6 | 20.0 | (2)(16) | |||||||||||||
Warrant to purchase up to 809,126 shares of Series E preferred stock (expires 12/2024) | 12/30/2014 | 0.3 | 2.1 | (2) | ||||||||||||||||
19.9 | 22.1 | |||||||||||||||||||
Dent Wizard International Corporation and DWH Equity Investors, L.P. | Automotive reconditioning services | Second lien senior secured loan ($50.0 par due 10/2020) | 9.99% (Libor + 8.75%/Q) | 4/7/2015 | 50.0 | 50.0 | (3)(16) | |||||||||||||
Class A common stock (10,000 shares) | 4/7/2015 | 0.2 | 0.5 | (2) | ||||||||||||||||
Class B common stock (20,000 shares) | 4/7/2015 | 0.4 | 1.0 | (2) | ||||||||||||||||
50.6 | 51.5 | |||||||||||||||||||
Eckler Industries, Inc. (20) | Restoration parts and accessories provider for classic automobiles | First lien senior secured revolving loan ($2.0 par due 12/2017) | 9.25% (Base Rate + 5.00%/Q) | 7/12/2012 | 2.0 | 1.7 | (2)(16) | |||||||||||||
First lien senior secured loan ($6.6 par due 12/2017) | 7.31% (Libor + 6.00%/Q) | 7/12/2012 | 6.6 | 5.5 | (3)(16) | |||||||||||||||
First lien senior secured loan ($0.6 par due 12/2017) | 7.28% (Libor + 6.00%/Q) | 7/12/2012 | 0.6 | 0.5 | (3)(16) | |||||||||||||||
First lien senior secured loan ($23.7 par due 12/2017) | 7.31% (Libor + 6.00%/Q) | 7/12/2012 | 23.7 | 19.9 | (3)(16) | |||||||||||||||
Series A preferred stock (1,800 shares) | 7/12/2012 | 1.8 | — | (2) | ||||||||||||||||
Common stock (20,000 shares) | 7/12/2012 | 0.2 | — | (2) | ||||||||||||||||
34.9 | 27.6 | |||||||||||||||||||
EcoMotors, Inc. | Engine developer | First lien senior secured loan ($9.8 par due 3/2018) | 9/1/2015 | 9.5 | 0.5 | (2)(15) | ||||||||||||||
Warrant to purchase up to 321,888 shares of Series C preferred stock (expires 12/2022) | 12/28/2012 | — | — | (2) | ||||||||||||||||
Warrant to purchase up to 70,000 shares of Series C preferred stock (expires 2/2025) | 2/24/2015 | — | — | (2) | ||||||||||||||||
9.5 | 0.5 | |||||||||||||||||||
ESCP PPG Holdings, LLC (7) | Distributor of new equipment and aftermarket parts to the heavy-duty truck industry | Class A units (3,500,000 units) | 12/14/2016 | 3.5 | 2.6 | (2) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($3.0 par due 5/2023) | 11.75% (Libor + 10.75%/Q) | 11/5/2018 | 3.0 | 2.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($4.9 par due 5/2023) | 11.75% (Libor + 10.75%/Q) | 6/30/2020 | 4.9 | 4.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($25.9 par due 5/2023) | 11.75% PIK (Libor + 10.75%/Q) | 12/22/2020 | 24.5 | 22.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 718.66 shares (expires 3/2041) | 3/21/2021 | 2.1 | 1.0 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||||
150.4 | 135.0 | ||||||||||||||||||||||||||||||||||||||||||||||
Essential Services Holding Corporation and OMERS Mahomes Investment Holdings LLC (17) | Provider of plumbing and HVAC services | First lien senior secured revolving loan | 11/16/2020 | — | — | (15) | |||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($145.5 par due 11/2026) | 6.75% (Libor + 5.75%/Q) | 11/16/2020 | 145.5 | 145.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($79.8 par due 11/2026) | 6.75% (Libor + 5.75%/Q) | 4/2/2021 | 79.8 | 79.8 | (13) | ||||||||||||||||||||||||||||||||||||||||||
Class A units (5,803.43 units) | 11/16/2020 | 19.6 | 25.3 | (2) | |||||||||||||||||||||||||||||||||||||||||||
244.9 | 250.6 | ||||||||||||||||||||||||||||||||||||||||||||||
FWR Holding Corporation (17) | Restaurant owner, operator, and franchisor | First lien senior secured revolving loan | 8/21/2017 | — | — | (15) | |||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($4.5 par due 8/2023) | 6.50% (Libor + 4.00% Cash, 1.50% PIK/Q) | 8/21/2017 | 4.5 | 4.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($2.5 par due 8/2023) | 8.00% (Libor + 5.50% Cash, 1.50% PIK/Q) | 2/28/2019 | 2.5 | 2.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.8 par due 8/2023) | 6.50% (Libor + 4.00% Cash, 1.50% PIK/Q) | 12/20/2019 | 1.8 | 1.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
8.8 | 8.8 | ||||||||||||||||||||||||||||||||||||||||||||||
Garden Fresh Restaurant Corp. and GFRC Holdings LLC (17) | Restaurant owner and operator | First lien senior secured revolving loan ($7.5 par due 2/2022) | 2/1/2017 | — | — | (2)(12) | |||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($21.6 par due 2/2022) | 2/1/2017 | — | — | (2)(12) | |||||||||||||||||||||||||||||||||||||||||||
— | — | ||||||||||||||||||||||||||||||||||||||||||||||
Jenny C Acquisition, Inc. | Health club franchisor | Senior subordinated loan ($1.4 par due 4/2025) | 8.00% PIK | 4/5/2019 | 1.4 | 1.4 | (2) | ||||||||||||||||||||||||||||||||||||||||
Jim N Nicks Management, LLC (17) | Restaurant owner and operator | First lien senior secured revolving loan ($2.8 par due 7/2023) | 6.25% (Libor + 5.25%/Q) | 7/10/2017 | 2.8 | 2.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($13.6 par due 7/2023) | 6.25% (Libor + 5.25%/Q) | 7/10/2017 | 13.6 | 13.6 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.1 par due 7/2023) | 6.25% (Libor + 5.25%/Q) | 7/10/2017 | 1.1 | 1.1 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
17.5 | 17.5 | ||||||||||||||||||||||||||||||||||||||||||||||
KeyStone Sub-debt HoldCo, LLC | Planet Fitness franchisee | Senior subordinated loan ($7.1 par due 1/2027) | 10.00% | 9/30/2021 | 7.1 | 6.7 | (2) | ||||||||||||||||||||||||||||||||||||||||
Senior subordinated loan ($52.9 par due 1/2027) | 10.00% PIK | 1/20/2021 | 49.7 | 50.3 | (2) | ||||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 24.7581 Class C interests (expires 1/2027) | 1/20/2021 | 3.6 | 4.8 | (2) | |||||||||||||||||||||||||||||||||||||||||||
60.4 | 61.8 | ||||||||||||||||||||||||||||||||||||||||||||||
ME Equity LLC | Franchisor in the massage industry | Common stock (3,000,000 shares) | 9/27/2012 | 3.0 | 2.5 | (2) | |||||||||||||||||||||||||||||||||||||||||
Movati Athletic (Group) Inc. | Premier health club operator | First lien senior secured loan ($3.0 par due 10/2024) | 7.50% (CDOR + 5.50% Cash, 0.50% PIK/Q) | 10/5/2017 | 3.1 | 2.7 | (2)(6)(13) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
Mavis Tire Supply LLC | Auto parts retailer | First lien senior secured loan ($38.6 par due 10/2020) | 6.49% (Libor + 5.25%/Q) | 7/26/2017 | 38.6 | 38.6 | (2)(16) | |||||||||||||
First lien senior secured loan ($179.4 par due 10/2020) | 6.49% (Libor + 5.25%/Q) | 7/26/2017 | 179.4 | 179.4 | (2)(16) | |||||||||||||||
218.0 | 218.0 | |||||||||||||||||||
Simpson Performance Products, Inc. | Provider of motorsports safety equipment | First lien senior secured loan ($10.0 par due 2/2020) | 8.52% (Libor + 7.52%/Q) | 2/20/2015 | 10.0 | 10.0 | (2)(16) | |||||||||||||
First lien senior secured loan ($18.3 par due 2/2020) | 8.52% (Libor + 7.52%/Q) | 2/20/2015 | 18.3 | 18.3 | (3)(16) | |||||||||||||||
28.3 | 28.3 | |||||||||||||||||||
SK SPV IV, LLC | Collision repair site operators | Series A common stock (12,500 units) | 8/18/2014 | 0.6 | 3.1 | (2) | ||||||||||||||
Series B common stock (12,500 units) | 8/18/2014 | 0.6 | 3.1 | (2) | ||||||||||||||||
1.2 | 6.2 | |||||||||||||||||||
381.9 | 373.2 | 5.31 | % | |||||||||||||||||
Restaurants and Food Services | ||||||||||||||||||||
ADF Capital, Inc., ADF Restaurant Group, LLC, and ARG Restaurant Holdings, Inc. (8)(20) | Restaurant owner and operator | First lien senior secured loan ($46.5 par due 12/2018) | 11/27/2006 | 39.9 | 11.0 | (2)(15) | ||||||||||||||
First lien senior secured loan ($3.5 par due 12/2018) | 19.31% PIK (Libor + 18.00%/Q) | 12/22/2016 | 3.5 | 3.5 | (2)(16) | |||||||||||||||
Promissory note ($28.4 par due 12/2023) | 11/27/2006 | 13.8 | — | (2) | ||||||||||||||||
Warrant to purchase up to 0.95 units of Series D common stock (expires 12/2023) | 12/18/2013 | — | — | (2) | ||||||||||||||||
57.2 | 14.5 | |||||||||||||||||||
Benihana, Inc. (20) | Restaurant owner and operator | First lien senior secured revolving loan ($0.8 par due 7/2018) | 8.30% (Libor + 7.00%/Q) | 8/21/2012 | 0.8 | 0.8 | (2)(16)(19) | |||||||||||||
First lien senior secured revolving loan ($1.8 par due 7/2018) | 10.00% (Base Rate + 5.75%/Q) | 8/21/2012 | 1.8 | 1.7 | (2)(16)(19) | |||||||||||||||
First lien senior secured loan ($0.3 par due 1/2019) | 8.32% (Libor + 7.00%/Q) | 12/28/2016 | 0.3 | 0.3 | (2)(16) | |||||||||||||||
First lien senior secured loan ($4.7 par due 1/2019) | 8.32% (Libor + 7.00%/Q) | 8/21/2012 | 4.7 | 4.6 | (4)(16) | |||||||||||||||
First lien senior secured loan ($0.0 par due 1/2019) | 8.25% (Libor + 7.00%/Q) | 12/28/2016 | — | — | (2)(16) | |||||||||||||||
First lien senior secured loan ($0.0 par due 1/2019) | 8.25% (Libor + 7.00%/Q) | 8/21/2012 | — | — | (4)(16) | |||||||||||||||
7.6 | 7.4 | |||||||||||||||||||
Cozzini Bros., Inc. and BH-Sharp Holdings LP (20) | Provider of commercial knife sharpening and cutlery services in the restaurant industry | First lien senior secured loan ($19.3 par due 3/2023) | 6.74% (Libor + 5.50%/Q) | 3/10/2017 | 19.3 | 19.1 | (4)(16) | |||||||||||||
Common units (2,950,000 units) | 3/10/2017 | 3.0 | 2.8 | (2) | ||||||||||||||||
22.3 | 21.9 | |||||||||||||||||||
FWR Holding Corporation (20) | Restaurant owner, operator, and franchisor | First lien senior secured revolving loan ($0.3 par due 8/2023) | 7.32% (Libor + 6.00%/Q) | 8/21/2017 | 0.3 | 0.3 | (2)(16) | |||||||||||||
First lien senior secured revolving loan ($0.3 par due 8/2023) | 7.24% (Libor + 6.00%/Q) | 8/21/2017 | 0.3 | 0.3 | (2)(16) | |||||||||||||||
First lien senior secured revolving loan ($4.1 par due 8/2023) | 7.48% (Libor + 6.00%/Q) | 8/21/2017 | 4.1 | 4.1 | (2)(16) | |||||||||||||||
4.7 | 4.7 | |||||||||||||||||||
Garden Fresh Restaurant Corp. and GFRC Holdings LLC (8)(20) | Restaurant owner and operator | First lien senior secured revolving loan ($1.0 par due 2/2022) | 10.50% (Libor + 9.00%/Q) | 4/26/2017 | 1.0 | 1.0 | (2)(16)(19) | |||||||||||||
First lien senior secured loan ($24.9 par due 2/2022) | 10.50% (Libor + 9.00%/Q) | 10/3/2013 | 24.9 | 24.9 | (2)(16) | |||||||||||||||
25.9 | 25.9 |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($2.2 par due 10/2024) | 8.00% (CDOR + 5.50% Cash, 0.50% PIK/Q) | 10/5/2017 | 2.1 | 2.0 | (2)(6)(13) | ||||||||||||||||||||||||||||||||||||||||||
5.2 | 4.7 | ||||||||||||||||||||||||||||||||||||||||||||||
OTG Management, LLC | Airport restaurant operator | Class A preferred units (3,000,000 units) | 8/26/2016 | 25.3 | 13.2 | ||||||||||||||||||||||||||||||||||||||||||
Common units (3,000,000 units) | 1/5/2011 | 3.0 | — | ||||||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 7.73% of common units | 6/19/2008 | 0.1 | — | ||||||||||||||||||||||||||||||||||||||||||||
28.4 | 13.2 | ||||||||||||||||||||||||||||||||||||||||||||||
Portillo's Holdings, LLC | Fast casual restaurant brand | Second lien senior secured loan ($34.0 par due 12/2024) | 10.75% (Libor + 9.50%/Q) | 11/27/2019 | 33.3 | 34.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Pyramid Management Advisors, LLC and Pyramid Investors, LLC (17) | Hotel operator | First lien senior secured revolving loan ($9.6 par due 7/2023) | 8.00% (Libor + 5.75% Cash, 1.25% PIK/Q) | 4/12/2018 | 9.6 | 8.6 | (2)(13)(16) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($16.8 par due 7/2023) | 8.00% (Libor + 5.75% Cash, 1.25% PIK/Q) | 4/12/2018 | 16.8 | 15.1 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.4 par due 7/2023) | 8.00% (Libor + 5.75% Cash, 1.25% PIK/Q) | 4/12/2018 | 1.4 | 1.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($6.4 par due 7/2023) | 8.00% (Libor + 5.75% Cash, 1.25% PIK/Q) | 12/27/2019 | 6.4 | 5.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Preferred membership units (996,833 units) | 7/15/2016 | 1.0 | — | ||||||||||||||||||||||||||||||||||||||||||||
35.2 | 30.7 | ||||||||||||||||||||||||||||||||||||||||||||||
Redwood Services, LLC and Redwood Services Holdco, LLC (17) | Provider of residential HVAC and plumbing services | First lien senior secured loan ($6.3 par due 12/2025) | 8.00% (Libor + 7.00%/Q) | 12/31/2020 | 6.3 | 6.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Series D units (5,291,723 units) | 8.00% PIK | 12/31/2020 | 5.3 | 8.2 | |||||||||||||||||||||||||||||||||||||||||||
11.6 | 14.5 | ||||||||||||||||||||||||||||||||||||||||||||||
Safe Home Security, Inc., Security Systems Inc., Safe Home Monitoring, Inc., National Protective Services, Inc., Bright Integrations LLC and Medguard Alert, Inc. (17) | Provider of safety systems for business and residential customers | First lien senior secured loan ($44.9 par due 8/2024) | 8.25% (Libor + 7.25%/M) | 8/4/2020 | 44.9 | 44.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Spectra Finance, LLC (17) | Venue management and food and beverage provider | First lien senior secured revolving loan ($4.5 par due 4/2023) | 6.75% (Libor + 5.00% Cash, 0.75% PIK/M) | 4/2/2018 | 4.5 | 4.5 | (2)(13)(16) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($3.2 par due 4/2024) | 6.75% (Libor + 5.00% Cash, 0.75% PIK/Q) | 4/2/2018 | 3.2 | 3.2 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
7.7 | 7.7 | ||||||||||||||||||||||||||||||||||||||||||||||
Taymax Group, L.P., Taymax Group G.P., LLC, PF Salem Canada ULC and TCP Fit Parent, L.P. (17) | Planet Fitness franchisee | First lien senior secured revolving loan ($0.5 par due 7/2024) | 6.75% (Libor + 5.75%/Q) | 7/31/2018 | 0.5 | 0.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.1 par due 7/2025) | 6.75% (Libor + 5.75%/Q) | 3/5/2020 | 1.1 | 1.1 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Class A units (37,020 units) | 7/31/2018 | 3.8 | 1.4 | ||||||||||||||||||||||||||||||||||||||||||||
5.4 | 3.0 | ||||||||||||||||||||||||||||||||||||||||||||||
The Alaska Club Partners, LLC, Athletic Club Partners LLC and The Alaska Club, Inc. (17) | Premier health club operator | First lien senior secured loan ($15.5 par due 12/2024) | 10.25% (Base rate + 5.00% Cash, 2.00% PIK/Q) | 12/16/2019 | 15.5 | 14.1 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
797.8 | 768.2 | 9.00 | % | ||||||||||||||||||||||||||||||||||||||||||||
Energy | |||||||||||||||||||||||||||||||||||||||||||||||
Birch Permian, LLC | Operator of private exploration oil and production company | Second lien senior secured loan ($88.3 par due 4/2023) | 9.50% (Libor + 8.00%/Q) | 4/12/2019 | 87.9 | 88.3 | (2)(13) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
Global Franchise Group, LLC (20) | Worldwide franchisor of quick service restaurants | First lien senior secured loan ($8.7 par due 12/2019) | 7.07% (Libor + 5.75%/Q) | 9/15/2017 | 8.7 | 8.6 | (2)(16) | |||||||||||||
Heritage Food Service Group, Inc. and WCI-HFG Holdings, LLC | Distributor of repair and replacement parts for commercial kitchen equipment | Second lien senior secured loan ($31.6 par due 10/2022) | 9.77% (Libor + 8.50%/Q) | 10/20/2015 | 31.6 | 31.6 | (2)(16) | |||||||||||||
Preferred units (3,000,000 units) | 10/20/2015 | 3.0 | 3.5 | (2) | ||||||||||||||||
34.6 | 35.1 | |||||||||||||||||||
Hojeij Branded Foods, LLC (20) | Leading operator of airport concessions across the U.S. | First lien senior secured loan ($6.3 par due 7/2022) | 7.33% (Libor + 6.00%/Q) | 7/20/2017 | 6.2 | 6.2 | (2)(16) | |||||||||||||
Jim N Nicks Management, LLC (20) | Restaurant owner and operator | First lien senior secured revolving loan ($1.2 par due 7/2023) | 6.55% (Libor + 5.25%/Q) | 7/10/2017 | 1.2 | 1.2 | (2)(16) | |||||||||||||
First lien senior secured revolving loan ($0.5 par due 7/2023) | 6.56% (Libor + 5.25%/Q) | 7/10/2017 | 0.5 | 0.5 | (2)(16) | |||||||||||||||
First lien senior secured loan ($0.6 par due 7/2023) | 6.56% (Libor + 5.25%/Q) | 7/10/2017 | 0.6 | 0.6 | (2)(16) | |||||||||||||||
First lien senior secured loan ($14.1 par due 7/2023) | 6.55% (Libor + 5.25%/Q) | 7/10/2017 | 14.1 | 13.8 | (2)(16) | |||||||||||||||
16.4 | 16.1 | |||||||||||||||||||
Orion Foods, LLC (8) | Convenience food service retailer | First lien senior secured loan ($1.2 par due 9/2015) | 4/1/2010 | 1.2 | 0.5 | (2)(15) | ||||||||||||||
Second lien senior secured loan ($19.4 par due 9/2015) | 4/1/2010 | — | — | (2)(15) | ||||||||||||||||
Preferred units (10,000 units) | 10/28/2010 | — | — | (2) | ||||||||||||||||
Class A common units (25,001 units) | 4/1/2010 | — | — | (2) | ||||||||||||||||
Class B common units (1,122,452 units) | 4/1/2010 | — | — | (2) | ||||||||||||||||
1.2 | 0.5 | |||||||||||||||||||
OTG Management, LLC (20) | Airport restaurant operator | First lien senior secured loan ($6.5 par due 8/2021) | 9.77% (Libor + 8.50%/Q) | 8/26/2016 | 6.5 | 6.5 | (2)(16) | |||||||||||||
First lien senior secured loan ($0.9 par due 8/2021) | 9.81% (Libor + 8.50%/Q) | 8/26/2016 | 0.9 | 0.9 | (2)(16) | |||||||||||||||
First lien senior secured loan ($97.8 par due 8/2021) | 9.77% (Libor + 8.50%/Q) | 8/26/2016 | 97.8 | 97.8 | (3)(16) | |||||||||||||||
Senior subordinated loan ($24.2 par due 2/2022) | 17.5% | 8/26/2016 | 24.1 | 24.2 | (2) | |||||||||||||||
Class A preferred units (3,417,123 units) | 8/26/2016 | 30.0 | 33.6 | (2) | ||||||||||||||||
Common units (3,000,000 units) | 1/5/2011 | 3.0 | 9.3 | (2) | ||||||||||||||||
Warrant to purchase up to 7.73% of common units (expires 6/2018) | 6/19/2008 | 0.1 | 20.4 | (2) | ||||||||||||||||
Warrant to purchase 0.60% of the common units deemed outstanding (expires 12/2018) | 8/29/2016 | — | — | (2) | ||||||||||||||||
162.4 | 192.7 | |||||||||||||||||||
Restaurant Holding Company, LLC | Fast food restaurant operator | First lien senior secured loan ($33.6 par due 2/2019) | 8.99% (Libor + 7.75%/Q) | 3/13/2014 | 33.5 | 30.2 | (3)(16) | |||||||||||||
Restaurant Technologies, Inc. (20) | Provider of bulk cooking oil management services to the restaurant and fast food service industries | First lien senior secured revolving loan ($0.4 par due 11/2021) | 5.98% (Libor + 4.75%/Q) | 11/23/2016 | 0.4 | 0.4 | (2)(16)(19) | |||||||||||||
First lien senior secured revolving loan ($0.5 par due 11/2021) | 8.00% (Base Rate + 3.75%/Q) | 11/23/2016 | 0.5 | 0.5 | (2)(16)(19) | |||||||||||||||
0.9 | 0.9 | |||||||||||||||||||
SFE Intermediate Holdco LLC (20) | Provider of outsourced foodservice to K-12 school districts | First lien senior secured loan ($6.8 par due 7/2023) | 6.31% (Libor + 5.00%/Q) | 7/31/2017 | 6.8 | 6.7 | (2)(16) | |||||||||||||
388.4 | 371.4 | 5.28 | % | |||||||||||||||||
Wholesale Distribution |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
Cheyenne Petroleum Company Limited Partnership, CPC 2001 LLC and Mill Shoals LLC | Private oil exploration and production company | Second lien senior secured loan ($63.1 par due 1/2024) | 10.00% (Libor + 9.00%/Q) | 7/10/2019 | 63.1 | 63.1 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Murchison Oil and Gas, LLC and Murchison Holdings, LLC | Exploration and production company | First lien senior secured loan ($2.7 par due 10/2023) | 11.00% (Libor + 9.00%/Q) | 9/19/2019 | 2.7 | 2.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($38.3 par due 10/2023) | 10.00% (Libor + 8.00%/Q) | 9/19/2019 | 38.3 | 38.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Preferred units (21,667 units) | 8.00% PIK | 10/26/2018 | 24.9 | 24.9 | |||||||||||||||||||||||||||||||||||||||||||
65.9 | 65.9 | ||||||||||||||||||||||||||||||||||||||||||||||
Penn Virginia Holding Corp. | Exploration and production company | Second lien senior secured loan ($64.9 par due 9/2024) | 10.50% (Base Rate + 7.25%/M) | 9/28/2017 | 64.9 | 66.2 | (2)(6)(13) | ||||||||||||||||||||||||||||||||||||||||
Sundance Energy Inc. (4) | Oil and gas producer | Common stock (157,970 shares) | 4/23/2021 | 69.8 | 85.9 | (2) | |||||||||||||||||||||||||||||||||||||||||
VPROP Operating, LLC and V SandCo, LLC (5)(17) | Sand-based proppant producer and distributor to the oil and natural gas industry | First lien senior secured loan ($6.8 par due 11/2024) | 11.00% PIK (Libor + 9.50%/M) | 11/6/2020 | 6.8 | 6.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($5.4 par due 11/2024) | 11.00% PIK (Libor + 9.50%/M) | 6/12/2020 | 5.4 | 5.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($24.4 par due 11/2024) | 11.00% PIK (Libor + 9.50%/M) | 3/1/2017 | 24.4 | 24.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Class A units (347,900 units) | 11/6/2020 | 32.8 | 40.5 | (2) | |||||||||||||||||||||||||||||||||||||||||||
69.4 | 77.1 | ||||||||||||||||||||||||||||||||||||||||||||||
421.0 | 446.5 | 5.23 | % | ||||||||||||||||||||||||||||||||||||||||||||
Media & Entertainment | |||||||||||||||||||||||||||||||||||||||||||||||
CMW Parent LLC (fka Black Arrow, Inc.) | Multiplatform media firm | Series A units (32 units) | 9/11/2015 | — | — | (2) | |||||||||||||||||||||||||||||||||||||||||
Global Music Rights, LLC (17) | Music right management company | First lien senior secured loan ($45.4 par due 8/2028) | 6.50% (Libor + 5.75%/Q) | 8/27/2021 | 45.4 | 45.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Miami Beckham United LLC | American professional soccer club | Class A preferred units (85,000 units) | 8.50% PIK | 9/17/2021 | 85.3 | 85.3 | |||||||||||||||||||||||||||||||||||||||||
MMax Investment Partners, Inc. (d/b/a Professional Fighters League) and PFL MMA, Inc. | Mixed martial arts league | First lien senior secured loan ($15.0 par due 1/2026) | 10.00% PIK | 1/20/2021 | 13.5 | 13.2 | (2) | ||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 3,223,122 shares of common stock (expires 1/2027) | 1/20/2021 | 1.7 | 1.7 | (2) | |||||||||||||||||||||||||||||||||||||||||||
15.2 | 14.9 | ||||||||||||||||||||||||||||||||||||||||||||||
OUTFRONT Media Inc. | Provider of out-of-home advertising | Series A convertible perpetual preferred stock(25,000 shares) | 7.00% | 4/20/2020 | 25.0 | 42.8 | (2)(6) | ||||||||||||||||||||||||||||||||||||||||
Padres L.P. (17) | Sports and entertainment | First lien senior secured loan ($92.8 par due 3/2027) | 6.00% (Libor + 5.00%/M) | 3/18/2021 | 92.8 | 92.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Production Resource Group, L.L.C. and PRG III, LLC (4)(17) | Provider of rental equipment, labor, production management, scenery, and other products to various entertainment end-markets | First lien senior secured loan ($14.9 par due 8/2024) | 8.50% (Libor rate + 5.00% Cash, 2.50% PIK/Q) | 7/31/2020 | 14.9 | 14.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($34.0 par due 8/2024) | 9.75% PIK (Libor + 8.50%/Q) | 8/21/2018 | 34.0 | 34.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.8 par due 8/2024) | 8.50% (Libor rate + 5.00% Cash, 2.50% PIK/Q) | 6/22/2021 | 0.8 | 0.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($2.5 par due 8/2024) | 6.00% (Libor + 5.00% PIK/Q) | 8/5/2021 | 2.5 | 2.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Class A units (113,617 units) | 10/6/2020 | 4.9 | 1.6 | (2) | |||||||||||||||||||||||||||||||||||||||||||
57.1 | 53.8 | ||||||||||||||||||||||||||||||||||||||||||||||
Storm Investment S.a.r.l. | Spanish futbol club | First lien senior secured loan ($71.4 par due 6/2030) | 3.88% (Euribor + 3.75%/Q) | 6/24/2021 | 73.6 | 71.4 | (2)(6) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
DFS Holding Company, Inc. | Distributor of maintenance, repair, and operations parts, supplies, and equipment to the foodservice industry | First lien senior secured loan ($4.7 par due 2/2022) | 6.33% (Libor + 5.00%/Q) | 3/1/2017 | 4.7 | 4.7 | (2)(16) | |||||||||||||
First lien senior secured loan ($189.2 par due 2/2022) | 6.83% (Libor + 5.50%/Q) | 7/26/2017 | 189.2 | 189.2 | (2)(16) | |||||||||||||||
193.9 | 193.9 | |||||||||||||||||||
Flow Solutions Holdings, Inc. | Distributor of high value fluid handling, filtration and flow control products | Second lien senior secured loan ($6.0 par due 10/2018) | 10.31% (Libor + 9.00%/Q) | 12/16/2014 | 6.0 | 6.0 | (2)(16) | |||||||||||||
Second lien senior secured loan ($29.5 par due 10/2018) | 10.31% (Libor + 9.00%/Q) | 12/16/2014 | 29.5 | 29.5 | (2)(16) | |||||||||||||||
35.5 | 35.5 | |||||||||||||||||||
KHC Holdings, Inc. and Kele Holdco, Inc. (20) | Catalog-based distribution services provider for building automation systems | First lien senior secured revolving loan ($0.9 par due 10/2020) | 5.49% (Libor + 4.25%/Q) | 1/3/2017 | 0.9 | 0.9 | (2)(16) | |||||||||||||
First lien senior secured revolving loan ($0.5 par due 10/2020) | 7.50% (Base Rate + 3.25%/Q) | 1/3/2017 | 0.5 | 0.5 | (2)(16) | |||||||||||||||
First lien senior secured loan ($69.2 par due 10/2022) | 7.33% (Libor + 6.00%/Q) | 1/3/2017 | 69.2 | 69.2 | (3)(16) | |||||||||||||||
Common stock (30,000 shares) | 1/3/2017 | 3.1 | 2.6 | |||||||||||||||||
73.7 | 73.2 | |||||||||||||||||||
303.1 | 302.6 | 4.31 | % | |||||||||||||||||
Containers and Packaging | ||||||||||||||||||||
GS Pretium Holdings, Inc. | Manufacturer and supplier of high performance plastic containers | Common stock (500,000 shares) | 6/2/2014 | 0.5 | 0.7 | (2) | ||||||||||||||
ICSH Parent, Inc. and Vulcan Container Services Holdings, Inc. (20) | Industrial container manufacturer, reconditioner and servicer | Second lien senior secured loan ($63.6 par due 4/2025) | 9.31% (Libor + 8.00%/Q) | 4/28/2017 | 62.9 | 63.6 | (2)(16) | |||||||||||||
Series A common stock (24,900 shares) | 4/28/2017 | 2.5 | 2.7 | (2) | ||||||||||||||||
65.4 | 66.3 | |||||||||||||||||||
LBP Intermediate Holdings LLC (20) | Manufacturer of paper and corrugated foodservice packaging | First lien senior secured revolving loan | — | 7/10/2015 | — | — | (18) | |||||||||||||
First lien senior secured loan ($11.9 par due 7/2020) | 6.83% (Libor + 5.50%/Q) | 7/10/2015 | 11.8 | 11.9 | (3)(16) | |||||||||||||||
First lien senior secured loan ($5.0 par due 7/2020) | 6.83% (Libor + 5.50%/Q) | 7/10/2015 | 5.0 | 5.0 | (4)(16) | |||||||||||||||
16.8 | 16.9 | |||||||||||||||||||
Microstar Logistics LLC, Microstar Global Asset Management LLC, and MStar Holding Corporation | Keg management solutions provider | Second lien senior secured loan ($78.5 par due 12/2018) | 8.74% (Libor + 7.50%/Q) | 12/14/2012 | 78.5 | 78.5 | (2)(16) | |||||||||||||
Second lien senior secured loan ($54.0 par due 12/2018) | 8.74% (Libor + 7.50%/Q) | 12/14/2012 | 54.0 | 54.0 | (3)(16) | |||||||||||||||
Second lien senior secured loan ($10.0 par due 12/2018) | 8.74% (Libor + 7.50%/Q) | 12/14/2012 | 10.0 | 10.0 | (4)(16) | |||||||||||||||
Common stock (50,000 shares) | 12/14/2012 | 4.0 | 7.3 | (2) | ||||||||||||||||
146.5 | 149.8 | |||||||||||||||||||
NSI Holdings, Inc. | Manufacturer of plastic containers for the wholesale nursery industry | Series A preferred stock (2,192 shares) | 1/3/2017 | — | — | |||||||||||||||
Warrant to purchase up to 648 shares of common stock (expires 11/2017) | 1/3/2017 | — | — | |||||||||||||||||
— | — | |||||||||||||||||||
Ranpak Corp. | Manufacturer and marketer of paper-based protective packaging systems and materials | Second lien senior secured loan ($15.4 par due 10/2022) | 8.48% (Libor + 7.25%/Q) | 1/3/2017 | 14.8 | 15.2 | (2)(16) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
Ordinary shares (3,958 shares) | 6/24/2021 | — | — | (2)(6) | |||||||||||||||||||||||||||||||||||||||||||
Class A redeemable shares (3,297,791 shares) | 6/24/2021 | 1.6 | 1.3 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||||
Class B redeemable shares (3,297,791 shares) | 6/24/2021 | 1.6 | 1.3 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||||
Class C redeemable shares (3,297,791 shares) | 6/24/2021 | 1.6 | 1.3 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||||
Class D redeemable shares (3,297,791 shares) | 6/24/2021 | 1.6 | 1.3 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||||
Class E redeemable shares (3,297,791 shares) | 6/24/2021 | 1.6 | 1.3 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||||
Class F redeemable shares (3,297,791 shares) | 6/24/2021 | 1.6 | 1.3 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||||
Class G redeemable shares (3,297,791 shares) | 6/24/2021 | 1.6 | 1.3 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||||
Class H redeemable shares (3,297,791 shares) | 6/24/2021 | 1.6 | 1.3 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||||
Class I redeemable shares (3,297,791 shares) | 6/24/2021 | 1.6 | 1.3 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||||
88.0 | 83.1 | ||||||||||||||||||||||||||||||||||||||||||||||
The Teaching Company Holdings, Inc. | Education publications provider | Preferred stock (10,663 shares) | 9/29/2006 | 1.1 | 2.8 | (2) | |||||||||||||||||||||||||||||||||||||||||
Common stock (15,393 shares) | 9/29/2006 | — | 1.5 | (2) | |||||||||||||||||||||||||||||||||||||||||||
1.1 | 4.3 | ||||||||||||||||||||||||||||||||||||||||||||||
409.9 | 422.0 | 4.94 | % | ||||||||||||||||||||||||||||||||||||||||||||
Retailing and Distribution | |||||||||||||||||||||||||||||||||||||||||||||||
Atlas Intermediate III, L.L.C. (17) | Specialty chemicals distributor | First lien senior secured loan ($5.8 par due 4/2025) | 6.50% (Libor + 5.50%/Q) | 3/31/2021 | 5.8 | 5.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Display Holding Company, Inc., Saldon Holdings, Inc. and Fastsigns Holdings Inc. (17) | Provider of visual communications solutions | First lien senior secured loan ($16.0 par due 3/2025) | 6.65% (Libor + 5.65%/M) | 3/13/2019 | 16.0 | 16.0 | (13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($2.6 par due 3/2025) | 6.65% (Libor + 5.65%/M) | 8/27/2019 | 2.6 | 2.6 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($20.6 par due 3/2025) | 6.65% (Libor + 5.65%/M) | 6/25/2021 | 20.6 | 20.6 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Common units (600 units) | 3/13/2019 | 0.6 | 0.9 | (2) | |||||||||||||||||||||||||||||||||||||||||||
39.8 | 40.1 | ||||||||||||||||||||||||||||||||||||||||||||||
GPM Investments, LLC and ARKO Corp. | Convenience store operator | First lien senior secured loan ($32.2 par due 3/2027) | 5.50% (Libor + 4.50%/Q) | 2/28/2020 | 32.2 | 32.2 | (13) | ||||||||||||||||||||||||||||||||||||||||
Common stock (2,088,478 shares) | 12/22/2020 | 19.8 | 21.5 | ||||||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 1,088,780 common stock (expires 12/2025) | 12/22/2020 | 1.6 | 2.5 | (2) | |||||||||||||||||||||||||||||||||||||||||||
53.6 | 56.2 | ||||||||||||||||||||||||||||||||||||||||||||||
SCIH Salt Holdings Inc. (17) | Salt and packaged ice melt manufacturer and distributor | First lien senior secured revolving loan | 3/16/2020 | — | — | (15) | |||||||||||||||||||||||||||||||||||||||||
Marcone Yellowstone Buyer Inc. and Marcone Yellowstone Holdings, LLC (17) | Distributor of OEM appliance aftermarket parts | First lien senior secured loan ($56.5 par due 6/2028) | 6.25% (Libor + 5.50%/Q) | 6/23/2021 | 56.5 | 55.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Class A common units (4,549 units) | 6/23/2021 | 4.5 | 5.6 | (2) | |||||||||||||||||||||||||||||||||||||||||||
61.0 | 61.0 | ||||||||||||||||||||||||||||||||||||||||||||||
McKenzie Creative Brands, LLC (17) | Designer, manufacturer and distributor of hunting-related supplies | First lien senior secured loan ($84.5 par due 9/2023) | 6.50% (Libor + 5.50%/Q) | 9/18/2014 | 84.5 | 84.5 | (8)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($5.5 par due 9/2023) | 6.50% (Libor + 5.50%/Q) | 9/18/2014 | 5.5 | 5.5 | (13) | ||||||||||||||||||||||||||||||||||||||||||
90.0 | 90.0 | ||||||||||||||||||||||||||||||||||||||||||||||
North Haven Falcon Buyer, LLC and North Haven Falcon Holding Company, LLC (17) | Manufacturer of aftermarket golf cart parts and accessories | First lien senior secured loan ($22.0 par due 5/2027) | 7.00% (Libor + 6.00%/Q) | 5/19/2021 | 22.0 | 21.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Class A units (50,000 units) | 5/19/2021 | 5.0 | 4.6 | ||||||||||||||||||||||||||||||||||||||||||||
27.0 | 26.3 |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
244.0 | 248.9 | 3.54 | % | |||||||||||||||||
Oil and Gas | ||||||||||||||||||||
Lonestar Prospects, Ltd. (20) | Sand based proppant producer and distributor to the oil and natural gas industry | First lien senior secured loan ($15.1 par due 3/2021) | 9.32% (Libor + 8.00%/Q) | 3/1/2017 | 15.1 | 15.1 | (2)(16) | |||||||||||||
First lien senior secured loan ($75.3 par due 3/2021) | 9.32% (Libor + 8.00%/Q) | 3/1/2017 | 75.3 | 75.3 | (3)(16) | |||||||||||||||
90.4 | 90.4 | |||||||||||||||||||
Moss Creek Resources, LLC | Exploration and production company | Senior subordinated loan ($30.0 par due 4/2022) | 9.50% (Libor + 8.00%/Q) | 5/5/2017 | 29.7 | 30.0 | (2)(16) | |||||||||||||
Penn Virginia Holding Corp. | Exploration and production company | Second lien senior secured loan ($90.1 par due 9/2022) | 8.34% (Libor + 7.00%/Q) | 9/29/2017 | 90.1 | 88.3 | (2)(16) | |||||||||||||
Petroflow Energy Corporation and TexOak Petro Holdings LLC (7) | Oil and gas exploration and production company | First lien senior secured loan ($12.6 par due 6/2019) | 3.24% (Libor + 2.00%/Q) | 6/29/2016 | 11.7 | 11.9 | (2)(16) | |||||||||||||
Second lien senior secured loan ($24.1 par due 12/2019) | 6/29/2016 | 21.9 | — | (2)(15) | ||||||||||||||||
Common units (202,000 units) | 6/29/2016 | 11.1 | — | |||||||||||||||||
44.7 | 11.9 | |||||||||||||||||||
254.9 | 220.6 | 3.14 | % | |||||||||||||||||
Environmental Services | ||||||||||||||||||||
MPH Energy Holdings, LP | Operator of municipal recycling facilities | Limited partnership interest (3.13% interest) | 1/8/2014 | — | — | (2) | ||||||||||||||
Pegasus Community Energy, LLC | Operator of municipal recycling facilities | Preferred stock (1,000 shares) | 3/1/2011 | 8.8 | — | (2) | ||||||||||||||
Soil Safe, Inc. and Soil Safe Acquisition Corp. (8)(20) | Provider of soil treatment, recycling and placement services | First lien senior secured revolving loan | — | 1/3/2017 | — | — | (18) | |||||||||||||
First lien senior secured loan ($23.0 par due 1/2020) | 8.00% (Libor + 6.25%/Q) | 1/3/2017 | 23.0 | 23.0 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($12.7 par due 6/2020) | 10.75% (Libor + 7.75%/Q) | 1/3/2017 | 12.7 | 12.7 | (2)(16) | |||||||||||||||
Senior subordinated loan ($35.3 par due 12/2020) | 16.5% | 1/3/2017 | 35.3 | 35.3 | (2) | |||||||||||||||
Senior subordinated loan ($30.4 par due 12/2020) | 14.5% | 1/3/2017 | 30.4 | 30.4 | (2) | |||||||||||||||
Senior subordinated loan ($0.0 par due 12/2020) | 1/3/2017 | — | — | (15) | ||||||||||||||||
Senior subordinated loan ($29.2 par due 12/2020) | 1/3/2017 | 11.5 | 1.4 | (15) | ||||||||||||||||
Common stock (810 shares) | 1/3/2017 | — | — | |||||||||||||||||
112.9 | 102.8 | |||||||||||||||||||
Storm UK Holdco Limited and Storm US Holdco Inc. (20) | Provider of water infrastructure software solutions for municipalities / utilities and engineering consulting firms | First lien senior secured revolving loan ($0.2 par due 5/2022) | 8.75% (Base Rate + 4.50%/Q) | 5/5/2017 | 0.2 | 0.2 | (2)(16) | |||||||||||||
First lien senior secured loan ($4.6 par due 5/2023) | 6.56% (Libor + 5.25%/Q) | 5/5/2017 | 4.6 | 4.5 | (2)(16) | |||||||||||||||
4.8 | 4.7 | |||||||||||||||||||
Waste Pro USA, Inc | Waste management services | Second lien senior secured loan ($75.4 par due 10/2020) | 8.74% (Libor + 7.50%/Q) | 10/15/2014 | 75.4 | 75.4 | (3)(16) | |||||||||||||
201.9 | 182.9 | 2.60 | % | |||||||||||||||||
Aerospace and Defense | ||||||||||||||||||||
Cadence Aerospace, LLC | Aerospace precision components manufacturer | First lien senior secured loan ($4.0 par due 5/2018) | 7.56% (Libor + 6.25%/Q) | 5/15/2012 | 4.0 | 4.0 | (4)(16) | |||||||||||||
First lien senior secured loan ($0.0 par due 5/2018) | 9.50% (Base Rate + 5.25%/Q) | 5/15/2012 | — | — | (4)(16) | |||||||||||||||
Second lien senior secured loan ($5.3 par due 5/2019) | 20.00% PIK | 4/17/2017 | 5.3 | 5.3 | (2) | |||||||||||||||
Second lien senior secured loan ($79.7 par due 5/2019) | 11.55% (Libor + 10.25%/Q) | 5/10/2012 | 79.7 | 79.7 | (2)(16) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
Reddy Ice LLC (17) | Packaged ice manufacturer and distributor | First lien senior secured revolving loan | 7/1/2019 | — | — | (15) | |||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($56.7 par due 7/2025) | 7.50% (Libor + 6.50%/Q) | 7/1/2019 | 56.7 | 56.7 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($5.3 par due 7/2025) | 7.50% (Libor + 6.50%/Q) | 7/1/2019 | 5.3 | 5.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.4 par due 7/2025) | 7.50% (Libor + 6.50%/Q) | 11/16/2020 | 0.4 | 0.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
62.4 | 62.4 | ||||||||||||||||||||||||||||||||||||||||||||||
US Salt Investors, LLC and Emerald Lake Pearl Acquisition-A, L.P. (17) | Producer and packager of compressed, household, and packaged salt | First lien senior secured loan ($61.5 par due 7/2028) | 6.25% (Libor + 5.50%/Q) | 7/19/2021 | 61.5 | 60.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Limited partner interests (0.4% interest) | 7/19/2021 | 0.8 | 0.8 | (2) | |||||||||||||||||||||||||||||||||||||||||||
62.3 | 61.7 | ||||||||||||||||||||||||||||||||||||||||||||||
401.9 | 403.5 | 4.73 | % | ||||||||||||||||||||||||||||||||||||||||||||
Food and Beverage | |||||||||||||||||||||||||||||||||||||||||||||||
American Seafoods Group LLC and American Seafoods Partners LLC | Harvester and processor of seafood | Class A units (77,922 units) | 8/19/2015 | 0.1 | 0.2 | (2) | |||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 7,422,078 Class A units (expires 8/2035) | 8/19/2015 | 7.4 | 18.0 | (2) | |||||||||||||||||||||||||||||||||||||||||||
7.5 | 18.2 | ||||||||||||||||||||||||||||||||||||||||||||||
Berner Food & Beverage, LLC (17) | Supplier of dairy-based food and beverage products | First lien senior secured revolving loan ($0.3 par due 7/2026) | 7.50% (Libor + 6.50%/M) | 7/30/2021 | 0.3 | 0.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($17.0 par due 7/2027) | 7.50% (Libor + 6.50%/M) | 7/30/2021 | 17.0 | 16.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
17.3 | 17.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Bragg Live Food Products, LLC and SPC Investment Co., L.P. (4)(17) | Health food company | First lien senior secured revolving loan ($1.5 par due 12/2025) | 7.25% (Libor + 6.25%/Q) | 3/11/2019 | 1.5 | 1.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($39.5 par due 12/2025) | 7.25% (Libor + 6.25%/Q) | 12/28/2020 | 39.5 | 38.3 | (13) | ||||||||||||||||||||||||||||||||||||||||||
Common units (14,850 units) | 3/11/2019 | 11.5 | 10.9 | (2) | |||||||||||||||||||||||||||||||||||||||||||
52.5 | 50.6 | ||||||||||||||||||||||||||||||||||||||||||||||
CHG PPC Parent LLC | Diversified food products manufacturer | Second lien senior secured loan ($94.6 par due 3/2026) | 7.08% (Libor + 7.00%/M) | 3/30/2018 | 94.6 | 94.6 | (2) | ||||||||||||||||||||||||||||||||||||||||
Gehl Foods, LLC and GF Parent LLC | Producer of low-acid, aseptic food and beverage products | Class A preferred units (2,940 units) | 5/13/2015 | 2.9 | — | (2) | |||||||||||||||||||||||||||||||||||||||||
Class A common units (60,000 units) | 5/13/2015 | 0.1 | — | (2) | |||||||||||||||||||||||||||||||||||||||||||
Class B common units (0.26 units) | 5/13/2015 | — | — | (2) | |||||||||||||||||||||||||||||||||||||||||||
3.0 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Hometown Food Company (17) | Food distributor | First lien senior secured revolving loan ($0.5 par due 8/2023) | 6.25% (Libor + 5.00%/M) | 8/31/2018 | 0.5 | 0.5 | (2)(13)(16) | ||||||||||||||||||||||||||||||||||||||||
KC Culinarte Intermediate, LLC | Manufacturer of fresh refrigerated and frozen food products | First lien senior secured loan ($29.2 par due 8/2025) | 4.75% (Libor + 3.75%/M) | 1/24/2020 | 28.9 | 26.8 | (13) | ||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($35.7 par due 8/2026) | 8.75% (Libor + 7.75%/M) | 8/24/2018 | 35.7 | 31.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
64.6 | 57.8 | ||||||||||||||||||||||||||||||||||||||||||||||
Manna Pro Products, LLC (17) | Manufacturer and supplier of specialty nutrition and care products for animals | First lien senior secured revolving loan ($1.9 par due 12/2026) | 7.00% (Libor + 6.00%/M) | 12/10/2020 | 1.9 | 1.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Triton Water Holdings, Inc. | Producer and provider of bottled water brands | First lien senior secured loan ($1.0 par due 3/2028) | 4.00% (Libor + 3.50%/Q) | 3/17/2021 | 1.0 | 1.0 | (2)(13)(20) | ||||||||||||||||||||||||||||||||||||||||
Senior subordinated loan ($0.1 par due 4/2029) | 6.25% | 3/17/2021 | 0.1 | 0.1 | (2)(20) | ||||||||||||||||||||||||||||||||||||||||||
1.1 | 1.1 | ||||||||||||||||||||||||||||||||||||||||||||||
RF HP SCF Investor, LLC | Branded specialty food company | Membership interest (10.08% interest) | 12/22/2016 | 12.5 | 18.7 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||
Teasdale Foods, Inc. and Familia Group Holdings Inc. | Provider of beans, sauces and hominy to the retail, foodservice and wholesale channels | First lien senior secured loan ($78.4 par due 12/2025) | 7.25% (Libor + 6.25%/Q) | 12/18/2020 | 78.4 | 76.8 | (2)(13) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
89.0 | 89.0 | |||||||||||||||||||
Jazz Acquisition, Inc. | Designer and distributor of aftermarket replacement components to the commercial airlines industry | Second lien senior secured loan ($25.0 par due 6/2022) | 8.08% (Libor + 6.75%/Q) | 1/3/2017 | 19.7 | 22.5 | (2)(16) | |||||||||||||
108.7 | 111.5 | 1.59 | % | |||||||||||||||||
Printing, Publishing and Media | ||||||||||||||||||||
Connoisseur Media, LLC | Owner and operator of radio stations | First lien senior secured loan ($22.4 par due 6/2019) | 7.68% (Libor + 6.38%/Q) | 7/26/2017 | 22.4 | 22.2 | (2)(16) | |||||||||||||
First lien senior secured loan ($61.2 par due 6/2019) | 7.42% (Libor + 6.38%/Q) | 7/26/2017 | 61.2 | 60.6 | (2)(16) | |||||||||||||||
83.6 | 82.8 | |||||||||||||||||||
Earthcolor Group, LLC | Printing management services | Limited liability company interests (9.30%) | 5/18/2012 | — | — | — | ||||||||||||||
EDS Group (8)(9) | Provider of print and digital services | Common stock (2,432,750 shares) | 1/3/2017 | — | 2.8 | |||||||||||||||
Roark-Money Mailer LLC | Marketer, advertiser and distributor of coupons in the mail industry | Membership units (35,000 units) | 1/3/2017 | — | — | |||||||||||||||
The Teaching Company Holdings, Inc. | Education publications provider | Preferred stock (10,663 shares) | 9/29/2006 | 1.1 | 2.4 | (2) | ||||||||||||||
Common stock (15,393 shares) | 9/29/2006 | — | — | (2) | ||||||||||||||||
1.1 | 2.4 | |||||||||||||||||||
84.7 | 88.0 | 1.25 | % | |||||||||||||||||
Chemicals | ||||||||||||||||||||
AMZ Holding Corp. (20) | Specialty chemicals manufacturer | First lien senior secured loan ($0.1 par due 6/2022) | 8.25% (Base Rate + 4.00%/Q) | 6/27/2017 | 0.1 | 0.1 | (2)(16) | |||||||||||||
First lien senior secured loan ($12.2 par due 6/2022) | 6.24% (Libor + 5.00%/Q) | 6/27/2017 | 12.2 | 12.2 | (2)(16) | |||||||||||||||
12.3 | 12.3 | |||||||||||||||||||
Borchers Americas, Inc. | Provider of performance enhancing coating additives | First lien senior secured loan ($5.0 par due 1/2024) | 6.08% (Libor + 4.75%/Q) | 1/12/2017 | 5.0 | 5.0 | (4)(16) | |||||||||||||
Genomatica, Inc. | Developer of a biotechnology platform for the production of chemical products | Warrant to purchase 322,422 shares of Series D preferred stock (expires 3/2023) | 3/28/2013 | — | — | (2) | ||||||||||||||
K2 Pure Solutions Nocal, L.P. (20) | Chemical producer | First lien senior secured revolving loan ($1.5 par due 2/2021) | 8.37% (Libor + 7.13%/Q) | 8/19/2013 | 1.5 | 1.5 | (2)(16) | |||||||||||||
First lien senior secured loan ($40.0 par due 2/2021) | 11.20% (Libor + 9.96%/Q) | 8/19/2013 | 40.0 | 40.0 | (3)(16) | |||||||||||||||
First lien senior secured loan ($13.0 par due 2/2021) | 11.20% (Libor + 9.96%/Q) | 8/19/2013 | 13.0 | 13.0 | (4)(16) | |||||||||||||||
54.5 | 54.5 | |||||||||||||||||||
Kinestral Technologies, Inc. | Designer of adaptive, dynamic glass for the commercial and residential markets. | First lien senior secured loan ($5.0 par due 10/2018) | 9.05% (Libor + 7.75%/M) | 4/22/2014 | 5.0 | 5.0 | (2)(16) | |||||||||||||
Warrant to purchase up to 325,000 shares of Series A preferred stock (expires 4/2024) | 4/22/2014 | 0.1 | 0.2 | (2) | ||||||||||||||||
Warrant to purchase up to 131,883 shares of Series B preferred stock (expires 4/2025) | 4/9/2015 | — | — | (2) | ||||||||||||||||
5.1 | 5.2 | |||||||||||||||||||
76.9 | 77.0 | 1.10 | % | |||||||||||||||||
Retail | ||||||||||||||||||||
Fashion Holding Luxembourg SCA (Modacin/Camaeiu) (8)(9) | Retailer of women's clothing | Preferred stock (241,776,675 shares) | 1/3/2017 | — | — | |||||||||||||||
Galls, LLC (20) | Distributor of public safety, private security and defense products in the United States | Second lien senior secured loan ($8.1 par due 8/2021) | 9.57% (Libor + 8.25%/Q) | 8/25/2017 | 8.1 | 8.1 | (2)(16) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 57,827 shares of common stock (expires 2/2034) | 2/4/2019 | — | — | (2) | |||||||||||||||||||||||||||||||||||||||||||
78.4 | 76.8 | ||||||||||||||||||||||||||||||||||||||||||||||
Watermill Express, LLC and Watermill Express Holdings, LLC (17) | Owner and operator of self-service water and ice stations | First lien senior secured revolving loan | 4/20/2021 | — | — | (15) | |||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($19.5 par due 4/2027) | 6.25% (Libor + 5.25%/Q) | 4/20/2021 | 19.5 | 19.3 | (13) | ||||||||||||||||||||||||||||||||||||||||||
Class A units (282,200 units) | 8.00% PIK | 4/20/2021 | 2.9 | 2.9 | |||||||||||||||||||||||||||||||||||||||||||
22.4 | 22.2 | ||||||||||||||||||||||||||||||||||||||||||||||
Winebow Holdings, Inc. and The Vintner Group, Inc. | Importer and distributor of wine | First lien senior secured loan ($28.4 par due 7/2025) | 7.25% (Libor + 6.25%/M) | 4/19/2021 | 28.4 | 28.1 | (13) | ||||||||||||||||||||||||||||||||||||||||
384.7 | 387.6 | 4.54 | % | ||||||||||||||||||||||||||||||||||||||||||||
Pharmaceuticals, Biotechnology & Life Sciences | |||||||||||||||||||||||||||||||||||||||||||||||
Abzena Holdings, Inc. and Astro Group Holdings Ltd. (17) | Organization providing discovery, development and manufacturing services to the pharmaceutical and biotechnology industries | First lien senior secured loan ($30.1 par due 5/2026) | 11.50% (Libor + 10.50% Cash, 1.50% PIK/Q) | 5/7/2021 | 30.1 | 29.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Class A ordinary shares (1,237,500 shares) | 5/7/2021 | 2.5 | 2.5 | (2) | |||||||||||||||||||||||||||||||||||||||||||
32.6 | 32.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Alcami Corporation and ACM Holdings I, LLC (17) | Outsourced drug development services provider | First lien senior secured loan ($29.3 par due 7/2025) | 4.33% (Libor + 4.25%/M) | 7/12/2018 | 29.2 | 27.5 | |||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($77.5 par due 7/2026) | 8.08% (Libor + 8.00%/M) | 7/12/2018 | 77.0 | 67.4 | (2) | ||||||||||||||||||||||||||||||||||||||||||
Common units (3,663,533 units) | 7/12/2018 | 35.0 | 12.0 | (2) | |||||||||||||||||||||||||||||||||||||||||||
141.2 | 106.9 | ||||||||||||||||||||||||||||||||||||||||||||||
NMC Skincare Intermediate Holdings II, LLC (17) | Developer, manufacturer and marketer of skincare products | First lien senior secured revolving loan ($7.3 par due 10/2024) | 6.00% (Libor + 5.00%/M) | 10/31/2018 | 7.3 | 7.2 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($32.4 par due 10/2024) | 6.00% (Libor + 5.00%/M) | 10/31/2018 | 32.4 | 32.1 | (13) | ||||||||||||||||||||||||||||||||||||||||||
North American Science Associates, LLC, Cardinal Purchaser LLC and Cardinal Topco Holdings, L.P. (17) | Contract research organization providing research and development and testing of medical devices | First lien senior secured loan ($48.0 par due 9/2027) | 6.50% (Libor + 5.75%/Q) | 9/15/2020 | 48.0 | 48.0 | (13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($7.8 par due 9/2027) | 6.50% (Libor + 5.75%/Q) | 9/15/2020 | 7.8 | 7.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($6.2 par due 9/2027) | 6.50% (Libor + 5.75%/Q) | 2/26/2021 | 6.2 | 6.2 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($29.2 par due 9/2027) | 6.50% (Libor + 5.75%/Q) | 9/13/2021 | 29.2 | 29.2 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Class A preferred units (13,528 units) | 8.00% PIK | 9/15/2020 | 14.6 | 30.9 | (2) | ||||||||||||||||||||||||||||||||||||||||||
105.8 | 122.1 | ||||||||||||||||||||||||||||||||||||||||||||||
TerSera Therapeutics LLC (17) | Acquirer and developer of specialty therapeutic pharmaceutical products | First lien senior secured revolving loan | —% | 11/20/2019 | — | — | (15) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($5.1 par due 3/2025) | 6.60% (Libor + 5.60%/Q) | 5/3/2017 | 5.1 | 5.1 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($2.1 par due 3/2025) | 6.60% (Libor + 5.60%/Q) | 9/27/2018 | 2.1 | 2.1 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.8 par due 3/2025) | 6.60% (Libor + 5.60%/Q) | 4/1/2019 | 1.8 | 1.8 | (13) | ||||||||||||||||||||||||||||||||||||||||||
9.0 | 9.0 | ||||||||||||||||||||||||||||||||||||||||||||||
Vertice Pharma UK Parent Limited | Manufacturer and distributor of generic pharmaceutical products | Preferred shares (40,662 shares) | 12/21/2015 | 0.3 | — | (6) | |||||||||||||||||||||||||||||||||||||||||
328.6 | 309.6 | 3.63 | % | ||||||||||||||||||||||||||||||||||||||||||||
Materials | |||||||||||||||||||||||||||||||||||||||||||||||
Genomatica, Inc. | Developer of a biotechnology platform for the production of chemical products | Warrant to purchase 322,422 shares of Series D preferred stock (expires 3/2023) | 3/28/2013 | — | — | (2) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
Second lien senior secured loan ($1.9 par due 8/2021) | 9.58% (Libor + 8.25%/Q) | 8/25/2017 | 1.9 | 1.9 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($14.3 par due 8/2021) | 9.58% (Libor + 8.25%/Q) | 1/3/2017 | 14.3 | 14.3 | (2)(16) | |||||||||||||||
Second lien senior secured loan ($26.0 par due 8/2021) | 9.58% (Libor + 8.25%/Q) | 1/3/2017 | 26.0 | 26.0 | (2)(16) | |||||||||||||||
50.3 | 50.3 | |||||||||||||||||||
Paper Source, Inc. and Pine Holdings, Inc. (20) | Retailer of fine and artisanal paper products | First lien senior secured revolving loan ($1.0 par due 9/2019) | 9.25% (Base Rate + 5.00%/Q) | 9/23/2013 | 1.0 | 1.0 | (2)(16) | |||||||||||||
First lien senior secured loan ($9.6 par due 9/2018) | 7.55% (Libor + 6.25%/Q) | 9/23/2013 | 9.6 | 9.4 | (4)(16) | |||||||||||||||
Class A common stock (36,364 shares) | 9/23/2013 | 6.0 | 3.6 | (2) | ||||||||||||||||
16.6 | 14.0 | |||||||||||||||||||
Things Remembered, Inc. and TRM Holdco Corp. (7)(20) | Personalized gifts retailer | First lien senior secured revolving loan ($0.4 par due 2/2019) | 9.31% (Libor + 8.00%/Q) | 8/30/2016 | 0.4 | 0.4 | (2)(16) | |||||||||||||
First lien senior secured revolving loan ($0.6 par due 2/2019) | 9.32% (Libor + 8.00%/Q) | 8/30/2016 | 0.6 | 0.6 | (2)(16) | |||||||||||||||
First lien senior secured revolving loan ($0.6 par due 2/2019) | 11.25% (Base Rate + 7.00%/Q) | 8/30/2016 | 0.6 | 0.6 | (2)(16) | |||||||||||||||
First lien senior secured loan ($12.0 par due 3/2020) | 8/30/2016 | 10.5 | 1.9 | (2)(15) | ||||||||||||||||
Common stock (10,631,940 shares) | 8/30/2016 | 6.1 | — | (2) | ||||||||||||||||
18.2 | 3.5 | |||||||||||||||||||
85.1 | 67.8 | 0.96 | % | |||||||||||||||||
Health Clubs | ||||||||||||||||||||
Athletic Club Holdings, Inc. | Premier health club operator | First lien senior secured loan ($35.0 par due 10/2020) | 9.74% (Libor + 8.50%/Q) | 10/11/2007 | 35.0 | 35.0 | (3)(16) | |||||||||||||
CFW Co-Invest, L.P., NCP Curves, L.P. and Curves International Holdings, Inc. | Health club franchisor | Limited partnership interest (4,152,165 shares) | 7/31/2012 | 4.2 | 5.9 | (2) | ||||||||||||||
Common stock (1,680 shares) | 11/12/2014 | — | — | (2)(9) | ||||||||||||||||
Limited partnership interest (2,218,235 shares) | 7/31/2012 | 2.2 | 3.2 | (2)(9) | ||||||||||||||||
6.4 | 9.1 | |||||||||||||||||||
41.4 | 44.1 | 0.63 | % | |||||||||||||||||
Farming and Agriculture | ||||||||||||||||||||
QC Supply, LLC (20) | Specialty distributor and solutions provider to the swine and poultry markets | First lien senior secured revolving loan ($4.0 par due 12/2021) | 7.24% (Libor + 6.00%/Q) | 12/29/2016 | 4.0 | 4.0 | (2)(16) | |||||||||||||
First lien senior secured loan ($11.3 par due 12/2022) | 7.24% (Libor + 6.00%/Q) | 12/29/2016 | 11.3 | 11.3 | (2)(16) | |||||||||||||||
First lien senior secured loan ($14.9 par due 12/2022) | 7.24% (Libor + 6.00%/Q) | 12/29/2016 | 14.9 | 14.9 | (4)(16) | |||||||||||||||
30.2 | 30.2 | |||||||||||||||||||
30.2 | 30.2 | 0.43 | % | |||||||||||||||||
Hotel Services | ||||||||||||||||||||
Pyramid Management Advisors, LLC and Pyramid Investors, LLC | Hotel Operator | First lien senior secured loan ($3.0 par due 7/2021) | 8.24% (Libor + 7.00%/Q) | 7/15/2016 | 3.0 | 3.0 | (2)(16) | |||||||||||||
First lien senior secured loan ($19.5 par due 7/2021) | 11.10% (Libor + 10.10%/Q) | 7/15/2016 | 19.5 | 19.3 | (3)(16) | |||||||||||||||
Membership units (996,833 units) | 7/15/2016 | 1.0 | 0.7 | (2) | ||||||||||||||||
23.5 | 23.0 | |||||||||||||||||||
23.5 | 23.0 | 0.33 | % | |||||||||||||||||
Computers and Electronics | ||||||||||||||||||||
Everspin Technologies, Inc. | Designer and manufacturer of computer memory solutions | Warrant to purchase up to 18,461 shares of common stock (expires 10/2026) | 6/5/2015 | 0.4 | — | (5)(23) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
Halex Holdings, Inc. (5) | Manufacturer of flooring installation products | Common stock (51,853 shares) | 1/3/2017 | — | — | ||||||||||||||||||||||||||||||||||||||||||
H-Food Holdings, LLC and Matterhorn Parent, LLC | Food contract manufacturer | Second lien senior secured loan ($73.0 par due 3/2026) | 7.08% (Libor + 7.00%/M) | 11/25/2018 | 73.0 | 73.0 | (2) | ||||||||||||||||||||||||||||||||||||||||
Common units (5,827 units) | 11/25/2018 | 5.8 | 6.9 | ||||||||||||||||||||||||||||||||||||||||||||
78.8 | 79.9 | ||||||||||||||||||||||||||||||||||||||||||||||
IntraPac International LLC and IntraPac Canada Corporation (17) | Manufacturer of diversified packaging solutions and plastic injection molded products | First lien senior secured revolving loan ($6.2 par due 1/2025) | 6.25% (Libor + 5.50%/Q) | 1/11/2019 | 6.2 | 6.2 | (2)(6)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($14.8 par due 1/2026) | 6.25% (Libor + 5.50%/Q) | 1/11/2019 | 14.8 | 14.7 | (6)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($18.6 par due 1/2026) | 6.25% (Libor + 5.50%/Q) | 6/4/2021 | 18.6 | 18.4 | (2)(6)(13) | ||||||||||||||||||||||||||||||||||||||||||
39.6 | 39.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Nelipak Holding Company, Nelipak European Holdings Cooperatief U.A., KNPAK Holdings, LP and PAKNK Netherlands Treasury B.V. (17) | Manufacturer of thermoformed packaging for medical devices | First lien senior secured revolving loan ($0.2 par due 7/2024) | 5.25% (Libor + 4.25%/Q) | 7/2/2019 | 0.2 | 0.2 | (2)(6)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($15.1 par due 7/2026) | 5.25% (Libor + 4.25%/Q) | 7/2/2019 | 15.1 | 15.1 | (6)(13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($5.3 par due 7/2026) | 4.50% (Euribor + 4.50%/Q) | 7/2/2019 | 5.1 | 5.3 | (2)(6) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($24.9 par due 7/2026) | 4.50% (Euribor + 4.50%/Q) | 8/8/2019 | 24.1 | 24.9 | (2)(6) | ||||||||||||||||||||||||||||||||||||||||||
Class A units (6,762,668 units) | 7/2/2019 | 6.8 | 5.5 | (2)(6) | |||||||||||||||||||||||||||||||||||||||||||
51.3 | 51.0 | ||||||||||||||||||||||||||||||||||||||||||||||
Novipax Buyer, L.L.C. and Novipax Parent Holding Company, L.L.C. | Developer and manufacturer of absorbent pads for food products | First lien senior secured loan ($23.9 par due 12/2026) | 6.75% (Libor + 5.75%/Q) | 12/1/2020 | 23.9 | 23.9 | (13) | ||||||||||||||||||||||||||||||||||||||||
Class A preferred units (4,772 units) | 10.00% PIK | 12/1/2020 | 4.8 | 4.8 | (2) | ||||||||||||||||||||||||||||||||||||||||||
Class C units (4,772 units) | 12/1/2020 | — | 0.7 | (2) | |||||||||||||||||||||||||||||||||||||||||||
28.7 | 29.4 | ||||||||||||||||||||||||||||||||||||||||||||||
Plaskolite PPC Intermediate II LLC and Plaskolite PPC Blocker LLC | Manufacturer of specialized acrylic and polycarbonate sheets | Second lien senior secured loan ($55.0 par due 12/2026) | 8.00% (Libor + 7.00%/Q) | 12/14/2018 | 55.0 | 55.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Co-Invest units (5,969 units) | 12/14/2018 | 0.5 | 1.1 | (2) | |||||||||||||||||||||||||||||||||||||||||||
55.5 | 56.1 | ||||||||||||||||||||||||||||||||||||||||||||||
SCI PH Parent, Inc. | Industrial container manufacturer, reconditioner and servicer | Series B shares (11.4764 shares) | 8/24/2018 | 1.1 | 0.5 | (2) | |||||||||||||||||||||||||||||||||||||||||
TWH Infrastructure Industries, Inc. (17) | Provider of engineered products used in the trenchless rehabilitation of wastewater infrastructure | First lien senior secured revolving loan ($0.1 par due 4/2025) | 5.64% (Libor + 5.50%/Q) | 4/9/2019 | 0.1 | — | (2) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($6.5 par due 4/2025) | 5.65% (Libor + 5.50%/Q) | 4/9/2019 | 6.5 | 6.2 | |||||||||||||||||||||||||||||||||||||||||||
6.6 | 6.2 | ||||||||||||||||||||||||||||||||||||||||||||||
261.6 | 262.4 | 3.07 | % | ||||||||||||||||||||||||||||||||||||||||||||
Food & Staples Retailing | |||||||||||||||||||||||||||||||||||||||||||||||
Balrog Acquisition, Inc., Balrog Topco, Inc. and Balrog Parent, L.P. | Manufacturer and distributor of specialty bakery ingredients | Second lien senior secured loan ($29.5 par due 9/2029) | 7.50% (Libor + 7.00%/Q) | 9/3/2021 | 29.5 | 29.4 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Class A preferred units (5,484 units) | 8.00% PIK | 9/3/2021 | 5.5 | 5.5 | |||||||||||||||||||||||||||||||||||||||||||
Series A preferred shares (21,921 shares) | 11.00% PIK | 9/3/2021 | 22.1 | 22.1 | (2) | ||||||||||||||||||||||||||||||||||||||||||
57.1 | 57.0 | ||||||||||||||||||||||||||||||||||||||||||||||
DecoPac, Inc. and KCAKE Holdings Inc. (17) | Supplier of cake decorating solutions and products to in-store bakeries | First lien senior secured revolving loan ($2.4 par due 5/2026) | 7.00% (Libor + 6.00%/M) | 5/14/2021 | 2.4 | 2.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($148.1 par due 5/2028) | 9.00% (Libor + 6.00% Cash, 2.00% PIK/Q) | 5/14/2021 | 148.1 | 146.7 | (2)(13) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
Imaging Business Machines, L.L.C. and Scanner Holdings Corporation (8) | Provider of high-speed intelligent document scanning hardware and software | Senior subordinated loan ($8.3 par due 6/2022) | 14% | 1/3/2017 | 8.1 | 8.3 | (2) | |||||||||||||
Senior subordinated loan ($8.3 par due 6/2022) | 14% | 1/3/2017 | 8.1 | 8.3 | (2) | |||||||||||||||
Series A preferred stock (66,424,135 shares) | 1/3/2017 | — | 4.7 | |||||||||||||||||
Class A common stock (33,173 shares) | 1/3/2017 | — | — | |||||||||||||||||
Class B common stock (134,214 shares) | 1/3/2017 | — | — | |||||||||||||||||
16.2 | 21.3 | |||||||||||||||||||
16.6 | 21.3 | 0.30 | % | |||||||||||||||||
Telecommunications | ||||||||||||||||||||
Adaptive Mobile Security Limited (9) | Developer of security software for mobile communications networks | First lien senior secured loan ($1.3 par due 7/2018) | 12.00% (EURIBOR + 9.00% Cash, 1.00%/M) | 1/16/2015 | 1.3 | 0.8 | (2)(14)(16) | |||||||||||||
First lien senior secured loan ($0.4 par due 10/2018) | 12.00% (EURIBOR + 9.00% Cash, 1.00%/M) | 1/16/2015 | 0.4 | 0.2 | (2)(14)(16) | |||||||||||||||
First lien senior secured loan ($1.1 par due 10/2018) | 12.00% (EURIBOR + 9.00% Cash, 1.00%/M) | 10/17/2016 | 1.0 | 0.7 | (2)(14)(16) | |||||||||||||||
2.7 | 1.7 | |||||||||||||||||||
American Broadband Holding Company and Cameron Holdings of NC, Inc. | Broadband communication services | Warrant to purchase up to 208 shares (expires 11/2017) | 11/7/2007 | — | 4.1 | |||||||||||||||
Warrant to purchase up to 200 shares (expires 9/2020) | 9/1/2010 | — | 10.0 | |||||||||||||||||
— | 14.1 | |||||||||||||||||||
CHL, LTD. | Repair and service solutions provider for cable, satellite and telecommunications based service providers | Warrant to purchase up to 120,000 shares of Series A common stock (expires 5/2020) | 1/3/2017 | — | — | |||||||||||||||
Warrant to purchase up to 280,000 shares of Series B common stock (expires 5/2020) | 1/3/2017 | — | — | |||||||||||||||||
Warrant to purchase up to 80,000 shares of Series C common stock (expires 5/2020) | 1/3/2017 | — | — | |||||||||||||||||
— | — | |||||||||||||||||||
LTG Acquisition, Inc. | Designer and manufacturer of display, lighting and passenger communication systems for mass transportation markets | Class A membership units (5,000 units) | 1/3/2017 | 5.1 | 3.9 | |||||||||||||||
Startec Equity, LLC (8) | Communication services | Member interest | 4/1/2010 | — | — | |||||||||||||||
7.8 | 19.7 | 0.28 | % | |||||||||||||||||
Commercial Real Estate Financial | ||||||||||||||||||||
ACAS Real Estate Holdings Corporation (8) | Real estate holding company | Common stock (1,001 shares) | 1/3/2017 | 2.6 | 2.1 | |||||||||||||||
NECCO Realty Investments LLC (8) | Real estate holding company | Membership units (7,450 units) | 1/3/2017 | — | — | |||||||||||||||
Parmenter Woodland Park Plaza, LLC | Real estate holding company | First lien senior secured loan ($17.8 par due 9/2018) | 6.14% (Libor + 4.90%/Q) | 1/3/2017 | 16.6 | 16.0 | (16) | |||||||||||||
19.2 | 18.1 | 0.26 | % | |||||||||||||||||
Housing and Building Materials | ||||||||||||||||||||
Halex Holdings, Inc. (8)(20) | Manufacturer of flooring installation products | First lien senior secured revolving loan ($1.1 par due 12/2018) | 1/24/2017 | 1.1 | 1.1 | |||||||||||||||
Common stock (51,853 shares) | 1/3/2017 | — | — |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
Common stock (9,599 shares) | 5/14/2021 | 9.6 | 9.6 | (2) | |||||||||||||||||||||||||||||||||||||||||||
160.1 | 158.6 | ||||||||||||||||||||||||||||||||||||||||||||||
FS Squared Holding Corp. and FS Squared, LLC (17) | Provider of on-site vending and micro market solutions | First lien senior secured revolving loan | 3/28/2019 | — | — | (15) | |||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.6 par due 3/2025) | 5.34% (Libor + 5.25%/M) | 3/28/2019 | 1.6 | 1.6 | (2) | ||||||||||||||||||||||||||||||||||||||||||
Class A units (113,219 units) | 3/28/2019 | 11.1 | 17.5 | (2) | |||||||||||||||||||||||||||||||||||||||||||
12.7 | 19.1 | ||||||||||||||||||||||||||||||||||||||||||||||
JWC/KI Holdings, LLC | Foodservice sales and marketing agency | Membership units (5,000 units) | 11/16/2015 | 5.0 | 7.4 | (2) | |||||||||||||||||||||||||||||||||||||||||
SFE Intermediate Holdco LLC (17) | Provider of outsourced foodservice to K-12 school districts | First lien senior secured loan ($10.2 par due 7/2024) | 5.75% (Libor + 4.75%/Q) | 9/5/2018 | 10.1 | 10.2 | (13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($6.3 par due 7/2024) | 5.75% (Libor + 4.75%/Q) | 7/31/2017 | 6.3 | 6.3 | (13) | ||||||||||||||||||||||||||||||||||||||||||
16.4 | 16.5 | ||||||||||||||||||||||||||||||||||||||||||||||
VCP-EDC Co-Invest, LLC | Distributor of foodservice equipment and supplies | Membership units (2,970,000 units) | 6/9/2017 | 2.8 | — | ||||||||||||||||||||||||||||||||||||||||||
254.1 | 258.6 | 3.03 | % | ||||||||||||||||||||||||||||||||||||||||||||
Transportation | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial Trailer Leasing, Inc. (17) | Trailer leasing company | First lien senior secured loan ($110.6 par due 1/2026) | 7.25% (Libor + 6.25%/Q) | 1/19/2021 | 110.6 | 110.6 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($6.1 par due 1/2026) | 7.25% (Libor + 6.25%/Q) | 1/19/2021 | 6.1 | 6.1 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($19.9 par due 1/2027) | 13.00% | 1/19/2021 | 19.9 | 19.9 | (2) | ||||||||||||||||||||||||||||||||||||||||||
136.6 | 136.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Shur-Co Acquisition, Inc. and Shur-Co HoldCo, Inc. (17) | Provider of tarp systems and accessories for trucks, trailers, carts, and specialty equipment used in the agriculture, construction and flatbed markets | First lien senior secured revolving loan ($1.0 par due 6/2027) | 7.00% (Libor + 6.00%/Q) | 6/30/2021 | 1.0 | 1.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($27.1 par due 6/2027) | 7.00% (Libor + 6.00%/Q) | 6/30/2021 | 27.1 | 26.8 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||||
Common stock (7,599,000 shares) | 6/30/2021 | 7.6 | 9.6 | (2) | |||||||||||||||||||||||||||||||||||||||||||
35.7 | 37.4 | ||||||||||||||||||||||||||||||||||||||||||||||
172.3 | 174.0 | 2.04 | % | ||||||||||||||||||||||||||||||||||||||||||||
Education | |||||||||||||||||||||||||||||||||||||||||||||||
Excelligence Holdings Corp. | Developer, manufacturer and retailer of educational products | First lien senior secured loan ($9.6 par due 4/2023) | 8.00% (Libor + 2.50% Cash, 4.50% PIK/Q) | 4/17/2017 | 9.5 | 8.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Flinn Scientific, Inc. and WCI-Quantum Holdings, Inc. (17) | Distributor of instructional products, services and resources | First lien senior secured revolving loan ($5.9 par due 8/2023) | 5.50% (Libor + 4.75%/Q) | 8/31/2018 | 5.9 | 5.5 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($30.0 par due 8/2023) | 5.50% (Libor + 4.75%/Q) | 7/26/2017 | 30.0 | 27.9 | (13) | ||||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.1 par due 8/2023) | 5.50% (Libor + 4.75%/Q) | 8/31/2018 | 1.1 | 1.1 | (13) | ||||||||||||||||||||||||||||||||||||||||||
Series A preferred stock (1,272 shares) | 10/24/2014 | 0.7 | 1.1 | (2) | |||||||||||||||||||||||||||||||||||||||||||
37.7 | 35.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Instituto de Banca y Comercio, Inc. & Leeds IV Advisors, Inc. | Private school operator | First lien senior secured loan ($8.0 par due 10/2022) | 10.50% (Libor + 9.00%/Q) | 3/12/2020 | 8.0 | 8.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Senior preferred series A-1 shares (151,056 shares) | 10/31/2015 | 98.1 | 26.9 | (2) | |||||||||||||||||||||||||||||||||||||||||||
Series B preferred stock (1,750,000 shares) | 8/5/2010 | 5.0 | — | (2) | |||||||||||||||||||||||||||||||||||||||||||
Series C preferred stock (2,512,586 shares) | 6/7/2010 | 0.6 | — | (2) | |||||||||||||||||||||||||||||||||||||||||||
Common stock (20 shares) | 6/7/2010 | — | — | (2) | |||||||||||||||||||||||||||||||||||||||||||
111.7 | 34.9 |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||
1.1 | 1.1 | |||||||||||||||||||
1.1 | 1.1 | 0.02 | % | |||||||||||||||||
Total Investments | $ | 11,739.9 | $ | 11,456.1 | (24) | 163.01 | % |
Description | Notional Amount to be Purchased | Notional Amount to be Sold | Counterparty | Settlement Date | Unrealized Appreciation / (Depreciation) | ||||||
Foreign currency forward contract | $ | 2 | € | 2 | Bank of Montreal | October 5, 2017 | $ | — | |||
Foreign currency forward contract | $ | 17 | € | 15 | Bank of Montreal | October 16, 2017 | (1 | ) | |||
Foreign currency forward contract | $ | 29 | € | 24 | Bank of Montreal | November 15, 2017 | — | ||||
Foreign currency forward contract | $ | 1 | € | 1 | Bank of Montreal | December 15, 2017 | — | ||||
Foreign currency forward contract | $ | 8 | CAD | 10 | Bank of Montreal | October 16, 2017 | — | ||||
Foreign currency forward contract | $ | 82 | CAD | 103 | Bank of Montreal | November 24, 2017 | — | ||||
Foreign currency forward contract | $ | 81 | £ | 62 | Bank of Montreal | November 15, 2017 | (3 | ) | |||
Total | $ | (4 | ) |
(in millions) Company | Purchases (cost) | Redemptions (cost) | Sales (cost) | Interest income | Capital structuring service fees | Dividend income | Other income | Net realized gains (losses) | Net unrealized gains (losses) | |||||||||||||||||||||||||||
Campus Management Acquisition Corp. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (3.0 | ) | |||||||||||||||||
Crown Health Care Laundry Services, LLC and Crown Laundry Holdings, LLC | $ | 7.0 | $ | 0.8 | $ | — | $ | 0.7 | $ | 0.1 | $ | — | $ | 0.2 | $ | — | $ | 0.5 | ||||||||||||||||||
ESCP PPG Holdings, LLC | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (1.1 | ) | |||||||||||||||||
Financial Asset Management Systems, Inc. and FAMS Holdings, Inc. | $ | 3.0 | $ | 3.0 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
Ioxus, Inc | $ | — | $ | — | $ | — | $ | 1.0 | $ | — | $ | — | $ | — | $ | — | $ | (0.1 | ) | |||||||||||||||||
Multi-Ad Services, Inc. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.1 | $ | — | ||||||||||||||||||
Petroflow Energy Corporation and TexOak Petro Holdings LLC | $ | — | $ | 2.6 | $ | 1.8 | $ | 0.3 | $ | — | $ | — | $ | — | $ | 0.2 | $ | (5.3 | ) | |||||||||||||||||
PIH Corporation and Primrose Holding Corporation | $ | 17.0 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 2.6 | ||||||||||||||||||
Shock Doctor, Inc. and Shock Doctor Holdings, LLC | $ | — | $ | — | $ | — | $ | 7.9 | $ | — | $ | — | $ | — | $ | — | $ | (8.9 | ) | |||||||||||||||||
Things Remembered, Inc. and TRM Holdco Corp. | $ | 4.3 | $ | 2.5 | $ | 0.2 | $ | 0.1 | $ | — | $ | — | $ | 0.1 | $ | — | $ | (1.5 | ) | |||||||||||||||||
UL Holding Co., LLC | $ | — | $ | — | $ | — | $ | 2.4 | $ | — | $ | — | $ | — | $ | — | $ | 6.4 |
(in millions) Company | Purchases (cost) | Redemptions (cost) | Sales (cost) | Interest income | Capital structuring service fees | Dividend income | Other income | Net realized gains (losses) | Net unrealized gains (losses) | |||||||||||||||||||||||||||
10th Street, LLC and New 10th Street, LLC | $ | — | $ | 53.3 | $ | 0.6 | $ | 2.0 | $ | — | $ | — | $ | — | $ | 34.5 | $ | (34.7 | ) | |||||||||||||||||
ACAS 2007-1 CLO | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
ACAS Equity Holdings Corporation | $ | 0.5 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (0.1 | ) | |||||||||||||||||
ACAS Real Estate Holdings Corporation | $ | 2.6 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
ADF Capital, Inc., ADF Restaurant Group, LLC, and ARG Restaurant Holdings, Inc. | $ | — | $ | — | $ | — | $ | 0.5 | $ | — | $ | — | $ | — | $ | — | $ | (17.2 | ) | |||||||||||||||||
Alcami Holdings, LLC | $ | 271.1 | $ | 5.2 | $ | 0.3 | $ | 20.0 | $ | — | $ | — | $ | 1.6 | $ | — | $ | 82.3 | ||||||||||||||||||
AllBridge Financial, LLC | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (0.4 | ) | |||||||||||||||||
Ares IIIR/IVR CLO Ltd. | $ | — | $ | 5.2 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.3 | $ | 0.4 | ||||||||||||||||||
Bellotto Holdings Limited | $ | 193.6 | $ | 193.6 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 58.1 | $ | — | ||||||||||||||||||
Callidus Capital Corporation | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
Ciena Capital LLC | $ | — | $ | — | $ | 10.0 | $ | 0.6 | $ | — | $ | — | $ | — | $ | — | $ | 8.0 | ||||||||||||||||||
CoLTS 2005-1 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
CoLTS 2005-2 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
Columbo Midco Limited, Columbo Bidco Limited and Columbo Topco Limited | $ | 27.9 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 5.9 | ||||||||||||||||||
Community Education Centers, Inc. and CEC Parent Holdings LLC | $ | — | $ | 36.2 | $ | 38.1 | $ | 1.2 | $ | — | $ | 8.4 | $ | — | $ | 24.4 | $ | (10.9 | ) | |||||||||||||||||
Competitor Group, Inc., Calera XVI, LLC and Champion Parent Corporation | $ | 0.5 | $ | 18.5 | $ | 42.8 | $ | 0.5 | $ | — | $ | — | $ | — | $ | (20.6 | ) | $ | 17.5 | |||||||||||||||||
CSHM LLC | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
EDS Group | $ | 11.8 | $ | 12.0 | $ | — | $ | 0.6 | $ | — | $ | — | $ | — | $ | 3.2 | $ | 2.8 | ||||||||||||||||||
ETG Holdings, Inc. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
European Capital Private Debt LP | $ | 97.9 | $ | 0.3 | $ | 97.7 | $ | — | $ | — | $ | — | $ | — | $ | 1.1 | $ | — | ||||||||||||||||||
European Capital UK SME Debt LP | $ | 46.8 | $ | 4.1 | $ | 0.8 | $ | — | $ | — | $ | — | $ | — | $ | (0.1 | ) | $ | 2.2 | |||||||||||||||||
Fashion Holding Luxembourg SCA (Modacin/Camaeiu) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
FPI Holding Corporation | $ | 0.4 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
Garden Fresh Restaurant Corp. and GFRC Holdings LLC | $ | 11.2 | $ | 8.1 | $ | 18.9 | $ | 3.0 | $ | — | $ | — | $ | 0.2 | $ | — | $ | 2.0 | ||||||||||||||||||
Halex Holdings, Inc. | $ | 1.1 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
HALT Medical, Inc. | $ | 0.7 | $ | — | $ | 0.6 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
Hard 8 Games, LLC | $ | 9.4 | $ | — | $ | 9.4 | $ | — | $ | — | $ | — | $ | — | $ | 4.6 | $ | — | ||||||||||||||||||
HCI Equity, LLC | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
Imaging Business Machines, L.L.C. and Scanner Holdings Corporation | $ | 16.1 | $ | — | $ | — | $ | 1.8 | $ | — | $ | — | $ | 0.5 | $ | — | $ | 5.1 | ||||||||||||||||||
Ivy Hill Asset Management, L.P. | $ | 228.6 | $ | 155.5 | $ | — | $ | — | $ | — | $ | 30.0 | $ | — | $ | — | $ | (5.9 | ) | |||||||||||||||||
LLSC Holdings Corporation (dba Lawrence Merchandising Services) | $ | 19.2 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.1 | $ | — | $ | (2.6 | ) | |||||||||||||||||
Miles 33 (Finance) Limited | $ | 15.2 | $ | 0.9 | $ | 0.6 | $ | 1.4 | $ | — | $ | — | $ | — | $ | — | $ | 7.0 | ||||||||||||||||||
Montgomery Lane, LLC and Montgomery Lane, Ltd. | $ | 2.2 | $ | 2.3 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1.2 | $ | 0.6 | ||||||||||||||||||
MVL Group, Inc. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
NECCO Holdings, Inc. | $ | 43.7 | $ | 27.6 | $ | 7.1 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (3.6 | ) | |||||||||||||||||
NECCO Realty Investments LLC | $ | 32.7 | $ | 27.4 | $ | 6.4 | $ | 1.2 | $ | — | $ | — | $ | — | $ | 13.0 | $ | — | ||||||||||||||||||
Orion Foods, LLC | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
Pillar Processing LLC and PHL Investors, Inc. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
Rug Doctor, LLC and RD Holdco Inc. | $ | 30.9 | $ | — | $ | — | $ | 1.4 | $ | — | $ | — | $ | — | $ | — | $ | (4.7 | ) | |||||||||||||||||
S Toys Holdings LLC (fka The Step2 Company, LLC) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 6.8 | $ | (5.7 | ) | |||||||||||||||||
Senior Direct Lending Program, LLC | $ | 171.0 | $ | 1.3 | $ | 2.1 | $ | 35.6 | $ | 8.0 | $ | — | $ | 1.7 | $ | — | $ | — | ||||||||||||||||||
Senior Secured Loan Fund LLC | $ | — | $ | 1,938.4 | $ | — | $ | 69.3 | $ | 0.9 | $ | — | $ | 4.5 | $ | (17.5 | ) | $ | 24.2 | |||||||||||||||||
Soil Safe, Inc. and Soil Safe Acquisition Corp. | $ | 110.6 | $ | 3.2 | $ | 1.0 | $ | 9.8 | $ | — | $ | — | $ | 0.6 | $ | — | $ | (10.1 | ) | |||||||||||||||||
Startec Equity, LLC | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
The Greeley Company, Inc. and HCP Acquisition Holdings, LLC | $ | — | $ | — | $ | 12.8 | $ | — | $ | — | $ | — | $ | — | $ | (12.3 | ) | $ | 12.5 |
(in millions) Portfolio Company | Total revolving and delayed draw loan commitments | Less: drawn commitments | Total undrawn commitments | Less: commitments substantially at discretion of the Company | Less: unavailable commitments due to borrowing base or other covenant restrictions | Total net adjusted undrawn revolving and delayed draw commitments | ||||||||||||
A.U.L. Corp. | $ | 1.3 | $ | — | $ | 1.3 | $ | — | $ | — | $ | 1.3 | ||||||
Accruent, LLC | 38.0 | — | 38.0 | — | — | 38.0 | ||||||||||||
Achilles Acquisition LLC | 2.3 | — | 2.3 | — | — | 2.3 | ||||||||||||
Acrisure, LLC | 9.4 | — | 9.4 | — | — | 9.4 | ||||||||||||
ADCS Clinics Intermediate Holdings, LLC | 5.0 | (4.8 | ) | 0.2 | — | — | 0.2 | |||||||||||
ADF Pizza I LLC | 1.3 | — | 1.3 | — | — | 1.3 | ||||||||||||
ADG, LLC | 13.7 | (10.9 | ) | 2.8 | — | — | 2.8 | |||||||||||
Alcami Holdings LLC | 30.0 | (23.6 | ) | 6.4 | — | — | 6.4 | |||||||||||
Alita Care, LLC | 5.0 | (1.3 | ) | 3.7 | — | — | 3.7 | |||||||||||
AMZ Holding Corp. | 3.4 | — | 3.4 | — | — | 3.4 | ||||||||||||
Benihana, Inc. | 3.2 | (3.1 | ) | 0.1 | — | — | 0.1 | |||||||||||
BeyondTrust Software, Inc. | 2.8 | — | 2.8 | — | — | 2.8 | ||||||||||||
CCS Intermediate Holdings, LLC | 7.5 | (6.4 | ) | 1.1 | — | — | 1.1 | |||||||||||
Chariot Acquisition, LLC | 1.0 | — | 1.0 | — | — | 1.0 | ||||||||||||
Ciena Capital LLC | 20.0 | (14.0 | ) | 6.0 | (6.0 | ) | — | — | ||||||||||
Clearwater Analytics, LLC | 5.0 | (0.5 | ) | 4.5 | — | — | 4.5 | |||||||||||
Command Alkon Incorporated | 2.9 | — | 2.9 | — | — | 2.9 | ||||||||||||
Component Hardware Group, Inc. | 3.7 | (1.9 | ) | 1.8 | — | — | 1.8 | |||||||||||
Convergint Technologies LLC | 8.0 | — | 8.0 | — | — | 8.0 | ||||||||||||
Cozzini Bros., Inc. | 19.1 | — | 19.1 | — | — | 19.1 | ||||||||||||
Crown Health Care Laundry Services, Inc. | 10.0 | (0.6 | ) | 9.4 | — | — | 9.4 | |||||||||||
CST Buyer Company | 4.2 | — | 4.2 | — | — | 4.2 | ||||||||||||
D4C Dental Brands, Inc. | 5.0 | (2.5 | ) | 2.5 | — | — | 2.5 | |||||||||||
DCA Investment Holding, LLC | 5.8 | (2.9 | ) | 2.9 | — | — | 2.9 | |||||||||||
DecoPac, Inc. | 8.1 | (1.6 | ) | 6.5 | — | — | 6.5 | |||||||||||
DFC Global Facility Borrower II LLC | 43.6 | — | 43.6 | — | — | 43.6 | ||||||||||||
Dorner Holding Corp. | 3.3 | (1.5 | ) | 1.8 | — | — | 1.8 | |||||||||||
DTI Holdco, Inc. and OPE DTI Holdings, Inc. | 8.8 | — | 8.8 | — | — | 8.8 | ||||||||||||
Eckler Industries, Inc. | 4.0 | (2.0 | ) | 2.0 | (2.0 | ) | — | — | ||||||||||
Emergency Communication Network, LLC | 6.5 | — | 6.5 | — | — | 6.5 | ||||||||||||
Emerus Holdings, Inc. | 2.0 | (0.3 | ) | 1.7 | — | — | 1.7 | |||||||||||
EN Engineering, L.L.C. | 5.0 | (1.2 | ) | 3.8 | — | — | 3.8 | |||||||||||
Entertainment Partners, LLC | 28.0 | — | 28.0 | — | — | 28.0 | ||||||||||||
Faction Holdings, Inc. | 2.0 | (1.0 | ) | 1.0 | — | — | 1.0 | |||||||||||
FPI Holding Corporation | 2.6 | — | 2.6 | — | — | 2.6 | ||||||||||||
Frontline Technologies Group Holding LLC | 11.8 | — | 11.8 | — | — | 11.8 | ||||||||||||
FWR Holding Corporation | 3.5 | (0.6 | ) | 2.9 | — | — | 2.9 | |||||||||||
Galls, LLC | 1.0 | — | 1.0 | — | — | 1.0 | ||||||||||||
Garden Fresh Restaurant Corp. | 7.5 | (3.7 | ) | 3.8 | — | — | 3.8 | |||||||||||
Gentle Communications, LLC | 5.0 | — | 5.0 | — | — | 5.0 | ||||||||||||
Global Franchise Group, LLC | 1.2 | — | 1.2 | — | — | 1.2 |
(in millions) Portfolio Company | Total revolving and delayed draw loan commitments | Less: drawn commitments | Total undrawn commitments | Less: commitments substantially at discretion of the Company | Less: unavailable commitments due to borrowing base or other covenant restrictions | Total net adjusted undrawn revolving and delayed draw commitments | ||||||||||||
Greenphire, Inc. | 2.0 | (1.0 | ) | 1.0 | — | — | 1.0 | |||||||||||
GTCR-Ultra Acquisition Inc | 2.0 | — | 2.0 | — | — | 2.0 | ||||||||||||
Halex Holdings, Inc. | 2.0 | (1.1 | ) | 0.9 | — | — | 0.9 | |||||||||||
Harvey Tool Company, LLC | 0.8 | — | 0.8 | — | — | 0.8 | ||||||||||||
Hojeij Branded Foods, LLC | 3.2 | — | 3.2 | — | — | 3.2 | ||||||||||||
Hygiena Borrower LLC | 5.3 | — | 5.3 | — | — | 5.3 | ||||||||||||
ICSH Parent, Inc. | 11.8 | — | 11.8 | — | — | 11.8 | ||||||||||||
Infilaw Holding, LLC | 20.0 | (11.5 | ) | 8.5 | (8.5 | ) | — | — | ||||||||||
Instituto De Banca y Comercio, Inc (EduK) | 12.5 | (11.5 | ) | 1.0 | — | — | 1.0 | |||||||||||
iPipeline, Inc. | 4.0 | — | 4.0 | — | — | 4.0 | ||||||||||||
JDC Healthcare Management, LLC | 12.2 | (1.5 | ) | 10.7 | — | — | 10.7 | |||||||||||
Jim N Nicks Management LLC | 9.0 | (1.7 | ) | 7.3 | — | — | 7.3 | |||||||||||
K2 Pure Solutions Nocal, L.P. | 5.0 | (1.5 | ) | 3.5 | — | — | 3.5 | |||||||||||
Key Surgical LLC | 2.8 | (0.9 | ) | 1.9 | — | — | 1.9 | |||||||||||
KHC Holdings, Inc. | 6.9 | (1.4 | ) | 5.5 | — | — | 5.5 | |||||||||||
Lakeland Tours, LLC | 15.8 | (7.7 | ) | 8.1 | — | — | 8.1 | |||||||||||
LBP Intermediate Holdings LLC | 0.9 | (0.1 | ) | 0.8 | — | — | 0.8 | |||||||||||
Liaison Acquisition, LLC | 3.9 | (1.2 | ) | 2.7 | — | — | 2.7 | |||||||||||
Lonestar Prospects, Ltd. | 17.0 | — | 17.0 | — | — | 17.0 | ||||||||||||
Massage Envy, LLC | 5.9 | (1.5 | ) | 4.4 | — | — | 4.4 | |||||||||||
MB2 Dental Solutions, LLC | 3.5 | — | 3.5 | — | — | 3.5 | ||||||||||||
McKenzie Sports Products, LLC | 4.5 | — | 4.5 | — | — | 4.5 | ||||||||||||
Ministry Brands LLC | 27.3 | — | 27.3 | — | — | 27.3 | ||||||||||||
MSHC, Inc. | 9.8 | (0.2 | ) | 9.6 | — | — | 9.6 | |||||||||||
MW Dental Holding Corp. | 10.0 | (9.7 | ) | 0.3 | — | — | 0.3 | |||||||||||
NECCO Holdings, Inc. | 25.0 | (19.2 | ) | 5.8 | — | — | 5.8 | |||||||||||
Niagara Fiber Intermediate Corp. | 2.2 | (1.9 | ) | 0.3 | — | — | 0.3 | |||||||||||
Nordco Inc | 12.5 | — | 12.5 | — | — | 12.5 | ||||||||||||
NSM Sub Holdings Corp. | 5.0 | (0.9 | ) | 4.1 | — | — | 4.1 | |||||||||||
OmniSYS Acquisition Corporation | 2.5 | — | 2.5 | — | — | 2.5 | ||||||||||||
Osmose Utilities Services, Inc. | 6.0 | — | 6.0 | — | — | 6.0 | ||||||||||||
OTG Management, LLC | 14.9 | — | 14.9 | — | — | 14.9 | ||||||||||||
Palermo Finance Corporation | 1.1 | (0.2 | ) | 0.9 | — | — | 0.9 | |||||||||||
Paper Source, Inc. | 3.3 | (1.0 | ) | 2.3 | — | — | 2.3 | |||||||||||
PDI TA Holdings, Inc. | 24.3 | — | 24.3 | — | — | 24.3 | ||||||||||||
Pegasus Intermediate Holdings, LLC | 5.0 | — | 5.0 | — | — | 5.0 | ||||||||||||
PIH Corporation | 3.3 | (0.6 | ) | 2.7 | — | — | 2.7 | |||||||||||
Practice Insight, LLC | 2.9 | (0.6 | ) | 2.3 | — | — | 2.3 | |||||||||||
QC Supply, LLC | 26.7 | (4.0 | ) | 22.7 | — | — | 22.7 | |||||||||||
Restaurant Technologies, Inc. | 5.4 | (1.4 | ) | 4.0 | — | — | 4.0 | |||||||||||
Retriever Medical/Dental Payments LLC | 3.5 | — | 3.5 | — | — | 3.5 | ||||||||||||
RuffaloCODY, LLC | 7.7 | (0.2 | ) | 7.5 | — | — | 7.5 | |||||||||||
Sanders Industries Holdings, Inc. | 15.0 | — | 15.0 | — | — | 15.0 | ||||||||||||
SCM Insurance Services Inc. | 4.3 | — | 4.3 | — | — | 4.3 | ||||||||||||
SCSG EA Acquisition Company, Inc. | 4.0 | — | 4.0 | — | — | 4.0 | ||||||||||||
Severin Acquisition, LLC | 2.9 | — | 2.9 | — | — | 2.9 | ||||||||||||
SFE Acquisition LLC | 3.8 | — | 3.8 | — | — | 3.8 | ||||||||||||
Shift PPC LLC | 1.5 | — | 1.5 | — | — | 1.5 | ||||||||||||
Soil Safe, Inc. | 10.5 | (5.6 | ) | 4.9 | — | — | 4.9 | |||||||||||
Sonny's Enterprises, LLC | 1.8 | — | 1.8 | — | — | 1.8 | ||||||||||||
Sparta Systems, Inc. | 6.5 | — | 6.5 | — | — | 6.5 | ||||||||||||
Storm US Holdco Inc | 1.1 | (0.2 | ) | 0.9 | — | — | 0.9 | |||||||||||
Teasdale Foods, Inc. | 0.8 | (0.2 | ) | 0.6 | — | — | 0.6 | |||||||||||
The Gordian Group, Inc. | 1.1 | — | 1.1 | — | — | 1.1 | ||||||||||||
Things Remembered, Inc. | 2.4 | (1.6 | ) | 0.8 | — | — | 0.8 |
(in millions) Portfolio Company | Total revolving and delayed draw loan commitments | Less: drawn commitments | Total undrawn commitments | Less: commitments substantially at discretion of the Company | Less: unavailable commitments due to borrowing base or other covenant restrictions | Total net adjusted undrawn revolving and delayed draw commitments | ||||||||||||
Towne Holdings, Inc. | 1.0 | — | 1.0 | — | — | 1.0 | ||||||||||||
TPTM Merger Corp. | 2.5 | (0.8 | ) | 1.7 | — | — | 1.7 | |||||||||||
Urgent Cares of America Holdings I, LLC | 10.0 | — | 10.0 | — | — | 10.0 | ||||||||||||
Visual Edge Technology, Inc. | 3.0 | — | 3.0 | — | — | 3.0 | ||||||||||||
VRC Companies LLC | 1.6 | (0.6 | ) | 1.0 | — | — | 1.0 | |||||||||||
Woodstream Group, Inc. | 3.1 | — | 3.1 | — | — | 3.1 | ||||||||||||
Zemax, LLC | 3.0 | — | 3.0 | — | — | 3.0 | ||||||||||||
ZocDoc, Inc. | 10.0 | — | 10.0 | — | — | 10.0 | ||||||||||||
Zywave, Inc. | 10.5 | — | 10.5 | — | — | 10.5 | ||||||||||||
$ | 801.3 | $ | (175.9 | ) | $ | 625.4 | $ | (16.5 | ) | $ | — | $ | 608.9 |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||||||||||||||||||||||||||||||
Primrose Holding Corporation (4) | Franchisor of education-based early childhood centers | Common stock (7,227 shares) | 1/3/2017 | 4.6 | 22.8 | ||||||||||||||||||||||||||||||||||||||||||
163.5 | 102.2 | 1.20 | % | ||||||||||||||||||||||||||||||||||||||||||||
Household & Personal Products | |||||||||||||||||||||||||||||||||||||||||||||||
Foundation Consumer Brands, LLC | Pharmaceutical holding company of over the counter brands | First lien senior secured loan ($26.2 par due 10/2026) | 7.38% (Libor + 6.38%/Q) | 2/12/2021 | 25.6 | 26.2 | (13) | ||||||||||||||||||||||||||||||||||||||||
Premier Specialties, Inc. and RMCF V CIV XLIV, L.P. (17) | Manufacturer and supplier of natural fragrance materials and cosmeceuticals | First lien senior secured loan ($27.6 par due 8/2027) | 6.75% (Libor + 5.75%/M) | 8/20/2021 | 27.6 | 27.3 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Limited partner interests (4.58% interest) | 8/20/2021 | 4.7 | 4.7 | (2) | |||||||||||||||||||||||||||||||||||||||||||
32.3 | 32.0 | ||||||||||||||||||||||||||||||||||||||||||||||
Rug Doctor, LLC and RD Holdco Inc. (5) | Manufacturer and marketer of carpet cleaning machines | Second lien senior secured loan ($21.3 par due 5/2023) | 11.25% PIK (Libor + 9.75%/M) | 1/3/2017 | 21.3 | 19.9 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Common stock (458,596 shares) | 1/3/2017 | 14.0 | — | ||||||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 56,372 shares of common stock (expires 12/2023) | 1/3/2017 | — | — | ||||||||||||||||||||||||||||||||||||||||||||
35.3 | 19.9 | ||||||||||||||||||||||||||||||||||||||||||||||
Walnut Parent, Inc. | Manufacturer of natural solution pest and animal control products | First lien senior secured loan ($14.9 par due 11/2027) | 6.50% (Libor + 5.50%/M) | 11/9/2020 | 14.9 | 14.9 | (13) | ||||||||||||||||||||||||||||||||||||||||
108.1 | 93.0 | 1.09 | % | ||||||||||||||||||||||||||||||||||||||||||||
Technology Hardware & Equipment | |||||||||||||||||||||||||||||||||||||||||||||||
Everspin Technologies, Inc. | Designer and manufacturer of computer memory solutions | Warrant to purchase up to 18,461 shares of common stock (expires 10/2026) | 10/7/2016 | 0.4 | — | (2) | |||||||||||||||||||||||||||||||||||||||||
FL Hawk Intermediate Holdings, Inc. (17) | Provider of variable data labeling for the apparel industry | First lien senior secured loan ($4.0 par due 2/2028) | 5.75% (Libor + 4.75%/Q) | 2/22/2021 | 3.9 | 4.0 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Micromeritics Instrument Corp. (17) | Scientific instrument manufacturer | First lien senior secured revolving loan | —% | 12/18/2019 | — | — | (15) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($32.1 par due 12/2025) | 6.00% (Libor + 5.00%/Q) | 12/18/2019 | 32.1 | 32.1 | (13) | ||||||||||||||||||||||||||||||||||||||||||
32.1 | 32.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Repairify, Inc. and Repairify Holdings, LLC (17) | Provider of automotive diagnostics scans and solutions | First lien senior secured loan ($19.9 par due 6/2027) | 6.00% (Libor + 5.00%/Q) | 6/14/2021 | 19.9 | 19.7 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
Class A common units (163,820 units) | 6/14/2021 | 4.9 | 4.9 | (2) | |||||||||||||||||||||||||||||||||||||||||||
24.8 | 24.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Wildcat BuyerCo, Inc. and Wildcat Parent, LP (17) | Provider and supplier of electrical components for commercial and industrial applications | First lien senior secured loan ($18.2 par due 2/2026) | 6.00% (Libor + 5.00%/Q) | 2/27/2020 | 18.2 | 18.2 | (13) | ||||||||||||||||||||||||||||||||||||||||
Limited partnership interests (17,655 interests) | 2/27/2020 | 1.8 | 2.8 | (2) | |||||||||||||||||||||||||||||||||||||||||||
20.0 | 21.0 | ||||||||||||||||||||||||||||||||||||||||||||||
81.2 | 81.7 | 0.96 | % | ||||||||||||||||||||||||||||||||||||||||||||
Telecommunication Services | |||||||||||||||||||||||||||||||||||||||||||||||
Emergency Communications Network, LLC (17) | Provider of mission critical emergency mass notification solutions | First lien senior secured loan ($46.0 par due 6/2023) | 8.75% (Libor + 2.63% Cash, 5.13% PIK/Q) | 6/1/2017 | 45.9 | 43.2 | (2)(13) | ||||||||||||||||||||||||||||||||||||||||
45.9 | 43.2 | 0.51 | % | ||||||||||||||||||||||||||||||||||||||||||||
Total Investments | 17,626.7 | 17,676.9 | 207.10% |
Description | Notional Amount to be Purchased | Notional Amount to be sold | Counterparty | Settlement Date | Unrealized Appreciation / (Depreciation) | ||||||||||||||||||
Foreign currency forward contract | $ | 168 | CAD | 213 | Truist Financial Corporation | October 28, 2021 | $ | — | |||||||||||||||
Foreign currency forward contract | $ | 164 | CAD | 209 | Truist Financial Corporation | October 19, 2021 | — | ||||||||||||||||
Foreign currency forward contract | $ | 149 | € | 128 | Truist Financial Corporation | October 28, 2021 | 1 | ||||||||||||||||
Foreign currency forward contract | $ | 133 | £ | 97 | Truist Financial Corporation | October 28, 2021 | 2 | ||||||||||||||||
Total | $ | 3 |
For the Nine Months Ended September 30, 2021 | As of September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) Company | Purchases (cost) | Redemptions (cost) | Sales (cost) | Interest income | Capital structuring service fees | Dividend income | Other income | Net realized gains (losses) | Net unrealized gains (losses) | Fair Value | ||||||||||||||||||||||||||||||||||||||||||||||||||||
APG Intermediate Holdings Corporation and APG Holdings, LLC | $ | — | $ | 0.1 | $ | — | $ | 0.7 | $ | — | $ | — | $ | — | $ | — | $ | (0.6) | $ | 25.5 | ||||||||||||||||||||||||||||||||||||||||||
Blue Angel Buyer 1, LLC and Blue Angel Holdco, LLC | $ | — | $ | — | $ | 9.7 | $ | — | $ | — | $ | 0.1 | $ | — | $ | 46.3 | $ | (18.4) | $ | — | ||||||||||||||||||||||||||||||||||||||||||
Blue Wolf Capital Fund II, L.P. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.2 | ||||||||||||||||||||||||||||||||||||||||||
Bragg Live Food Products, LLC and SPC Investment Co., L.P. | $ | 3.8 | $ | 7.1 | $ | — | $ | 2.3 | $ | — | $ | 0.2 | $ | — | $ | — | $ | (1.4) | $ | 50.6 | ||||||||||||||||||||||||||||||||||||||||||
Crown Health Care Laundry Services, LLC and Crown Laundry Holdings, LLC | $ | — | $ | 27.2 | $ | 4.5 | $ | (0.5) | $ | — | $ | — | $ | 1.0 | $ | 10.7 | $ | (8.0) | $ | — | ||||||||||||||||||||||||||||||||||||||||||
ESCP PPG Holdings, LLC | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.4 | $ | 3.6 | ||||||||||||||||||||||||||||||||||||||||||
European Capital UK SME Debt LP | $ | — | $ | 7.7 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 3.4 | $ | 25.4 | ||||||||||||||||||||||||||||||||||||||||||
Panda Temple Power, LLC and T1 Power Holdings LLC | $ | — | $ | 4.7 | $ | — | $ | 0.2 | $ | — | $ | — | $ | — | $ | — | $ | 11.8 | $ | 25.8 | ||||||||||||||||||||||||||||||||||||||||||
PCG-Ares Sidecar Investment II, L.P. | $ | 0.1 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 11.1 | ||||||||||||||||||||||||||||||||||||||||||
PCG-Ares Sidecar Investment, L.P. | $ | — | $ | 0.6 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1.5 | $ | 1.3 | ||||||||||||||||||||||||||||||||||||||||||
Primrose Holding Corporation | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 8.7 | $ | 22.8 | ||||||||||||||||||||||||||||||||||||||||||
Production Resource Group, L.L.C. and PRG III, LLC | $ | 8.9 | $ | — | $ | — | $ | 3.5 | $ | 0.2 | $ | — | $ | — | $ | — | $ | (3.5) | $ | 53.8 | ||||||||||||||||||||||||||||||||||||||||||
Shock Doctor, Inc. and Shock Doctor Holdings, LLC | $ | 0.7 | $ | 1.2 | $ | — | $ | 1.1 | $ | — | $ | — | $ | — | $ | 1.0 | $ | 3.2 | $ | 22.1 | ||||||||||||||||||||||||||||||||||||||||||
Sundance Energy Inc. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 16.2 | $ | 85.9 | ||||||||||||||||||||||||||||||||||||||||||
Totes Isotoner Corporation and Totes Ultimate Holdco, Inc. | $ | — | $ | — | $ | — | $ | 0.2 | $ | — | $ | — | $ | — | $ | — | $ | (0.4) | $ | 5.0 | ||||||||||||||||||||||||||||||||||||||||||
$ | 13.5 | $ | 48.6 | $ | 14.2 | $ | 7.5 | $ | 0.2 | $ | 0.3 | $ | 1.0 | $ | 58.0 | $ | 12.9 | $ | 333.1 |
For the Nine Months Ended September 30, 2021 | As of September 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) Company | Purchases (cost) | Redemptions (cost) | Sales (cost) | Interest income | Capital structuring service fees | Dividend income | Other income | Net realized gains (losses) | Net unrealized gains (losses) | Fair Value | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Absolute Dental Group LLC and Absolute Dental Equity, LLC | $ | 47.5 | $ | 26.4 | $ | — | $ | 2.8 | $ | 1.6 | $ | — | $ | 0.1 | $ | — | $ | 3.3 | $ | 58.5 | |||||||||||||||||||||||||||||||||||||||||||||
ACAS Equity Holdings Corporation | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.4 | $ | 0.4 | |||||||||||||||||||||||||||||||||||||||||||||
ADF Capital, Inc., ADF Restaurant Group, LLC, and ARG Restaurant Holdings, Inc. | $ | — | $ | 58.4 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (57.6) | $ | 58.4 | $ | — | |||||||||||||||||||||||||||||||||||||||||||||
BW Landco LLC | $ | — | $ | — | $ | 20.9 | $ | — | $ | — | $ | — | $ | — | $ | 20.8 | $ | (16.0) | $ | — | |||||||||||||||||||||||||||||||||||||||||||||
CoLTs 2005-1 Ltd. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||||
CoLTs 2005-2 Ltd. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||||
Eckler Industries, Inc. and Eckler Purchaser LLC | $ | 2.0 | $ | — | $ | — | $ | 2.5 | $ | — | $ | — | $ | — | $ | — | $ | (3.2) | $ | 26.6 | |||||||||||||||||||||||||||||||||||||||||||||
Halex Holdings, Inc. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||||
HCI Equity, LLC | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.1 | |||||||||||||||||||||||||||||||||||||||||||||
Heelstone Renewable Energy, LLC | $ | 38.3 | $ | 8.5 | $ | — | $ | 0.7 | $ | 0.1 | $ | 0.4 | $ | — | $ | 0.2 | $ | 25.8 | $ | 82.6 | |||||||||||||||||||||||||||||||||||||||||||||
Imaging Business Machines, L.L.C. and Scanner Holdings Corporation | $ | — | $ | — | $ | — | $ | 1.8 | $ | — | $ | — | $ | 0.4 | $ | — | $ | 4.6 | $ | 49.2 | |||||||||||||||||||||||||||||||||||||||||||||
Ivy Hill Asset Management, L.P. | $ | 51.5 | $ | 70.5 | $ | 37.0 | $ | 2.4 | $ | — | $ | 65.0 | $ | — | $ | — | $ | 47.0 | $ | 619.5 | |||||||||||||||||||||||||||||||||||||||||||||
Joyce Lane Capital LLC and Joyce Lane Financing SPV LLC (fka Ciena Capital LLC) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.6 | |||||||||||||||||||||||||||||||||||||||||||||
Navisun LLC and Navisun Holdings LLC | $ | — | $ | — | $ | — | $ | 6.6 | $ | — | $ | — | $ | — | $ | — | $ | 8.8 | $ | 132.1 | |||||||||||||||||||||||||||||||||||||||||||||
NECCO Holdings, Inc. and New England Confectionery Company, Inc. | $ | 1.9 | $ | 14.5 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (12.4) | $ | 8.0 | $ | — | |||||||||||||||||||||||||||||||||||||||||||||
NECCO Realty Investments LLC | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||||
Rug Doctor, LLC and RD Holdco Inc. | $ | — | $ | — | $ | — | $ | 1.7 | $ | — | $ | — | $ | — | $ | — | $ | (1.5) | $ | 19.9 | |||||||||||||||||||||||||||||||||||||||||||||
S Toys Holdings LLC (fka The Step2 Company, LLC) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.3 | $ | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||
Senior Direct Lending Program, LLC | $ | 117.1 | $ | 308.2 | $ | — | $ | 105.5 | $ | 9.7 | $ | — | $ | 2.9 | $ | — | $ | — | $ | 931.7 | |||||||||||||||||||||||||||||||||||||||||||||
Singer Sewing Company, SVP-Singer Holdings, LLC and SVP-Singer Holdings LP | $ | — | $ | 234.2 | $ | — | $ | 25.4 | $ | — | $ | 6.7 | $ | — | $ | 109.7 | $ | (85.8) | $ | — | |||||||||||||||||||||||||||||||||||||||||||||
Startec Equity, LLC | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||||
VPROP Operating, LLC and V SandCo, LLC | $ | 0.9 | $ | — | $ | — | $ | 2.9 | $ | — | $ | — | $ | — | $ | — | $ | 6.0 | $ | 77.1 | |||||||||||||||||||||||||||||||||||||||||||||
$ | 259.2 | $ | 720.7 | $ | 57.9 | $ | 152.3 | $ | 11.4 | $ | 72.1 | $ | 3.4 | $ | 60.7 | $ | 56.1 | $ | 1,998.6 |
(in millions) Portfolio Company | Total revolving and delayed draw loan commitments | Less: funded commitments | Total unfunded commitments | Less: commitments substantially at discretion of the Company | Less: unavailable commitments due to borrowing base or other covenant restrictions | Total net adjusted unfunded revolving and delayed draw commitments | |||||||||||||||||||||||||||||
A.U.L. Corp. | $ | 1.2 | $ | — | $ | 1.2 | $ | — | $ | — | $ | 1.2 | |||||||||||||||||||||||
Absolute Dental Group LLC | 7.0 | (1.0) | 6.0 | — | — | 6.0 | |||||||||||||||||||||||||||||
Abzena Holdings, Inc. | 27.4 | — | 27.4 | — | — | 27.4 | |||||||||||||||||||||||||||||
Accommodations Plus Technologies LLC | 4.1 | (4.1) | — | — | — | — | |||||||||||||||||||||||||||||
ADG, LLC | 13.7 | (7.0) | 6.7 | — | — | 6.7 | |||||||||||||||||||||||||||||
AffiniPay Midco, LLC | 9.0 | — | 9.0 | — | — | 9.0 | |||||||||||||||||||||||||||||
Alcami Corporation | 29.0 | — | 29.0 | — | — | 29.0 | |||||||||||||||||||||||||||||
Alera Group, Inc. | 57.2 | — | 57.2 | — | — | 57.2 | |||||||||||||||||||||||||||||
Alita Care, LLC (fka KBHS Acquisition, LLC) | 5.0 | (1.3) | 3.7 | — | — | 3.7 | |||||||||||||||||||||||||||||
AMCP Clean Intermediate, LLC | 6.1 | (2.1) | 4.0 | — | — | 4.0 | |||||||||||||||||||||||||||||
American Residential Services L.L.C. | 4.5 | — | 4.5 | — | — | 4.5 | |||||||||||||||||||||||||||||
Anaqua Parent Holdings, Inc. | 4.3 | — | 4.3 | — | — | 4.3 | |||||||||||||||||||||||||||||
APG Intermediate Holdings Corporation | 0.1 | — | 0.1 | — | — | 0.1 | |||||||||||||||||||||||||||||
Appriss Health, LLC | 0.1 | — | 0.1 | — | — | 0.1 | |||||||||||||||||||||||||||||
Apptio, Inc. | 4.2 | (1.7) | 2.5 | — | — | 2.5 | |||||||||||||||||||||||||||||
AQ Sunshine, Inc. | 14.1 | (0.3) | 13.8 | — | — | 13.8 | |||||||||||||||||||||||||||||
Ardonagh Midco 3 PLC | 145.0 | — | 145.0 | — | — | 145.0 | |||||||||||||||||||||||||||||
Arrowhead Holdco Company | 32.8 | (1.6) | 31.2 | — | — | 31.2 | |||||||||||||||||||||||||||||
Athenahealth, Inc. | 33.1 | — | 33.1 | — | — | 33.1 | |||||||||||||||||||||||||||||
ATI Restoration, LLC | 10.0 | (4.1) | 5.9 | — | (1.7) | 4.2 | |||||||||||||||||||||||||||||
Atlas Intermediate III L.L.C. | 1.0 | — | 1.0 | — | — | 1.0 | |||||||||||||||||||||||||||||
Avetta, LLC | 4.2 | — | 4.2 | — | — | 4.2 | |||||||||||||||||||||||||||||
AxiomSL Group, Inc. | 3.9 | — | 3.9 | — | — | 3.9 | |||||||||||||||||||||||||||||
Banyan Software Holdings, LLC | 8.7 | — | 8.7 | — | — | 8.7 | |||||||||||||||||||||||||||||
Bearcat Buyer, Inc. | 32.8 | — | 32.8 | — | — | 32.8 | |||||||||||||||||||||||||||||
Belfor Holdings, Inc. | 25.0 | (10.6) | 14.4 | — | — | 14.4 | |||||||||||||||||||||||||||||
Benecon Midco II LLC | 4.5 | — | 4.5 | — | — | 4.5 | |||||||||||||||||||||||||||||
Benefytt Technologies, Inc. | 5.9 | — | 5.9 | — | — | 5.9 | |||||||||||||||||||||||||||||
Berner Food & Beverage, LLC | 1.7 | (0.3) | 1.4 | — | — | 1.4 | |||||||||||||||||||||||||||||
Borrower R365 Holdings LLC | 1.5 | (0.7) | 0.8 | — | — | 0.8 | |||||||||||||||||||||||||||||
Bragg Live Food Products LLC | 4.4 | (1.5) | 2.9 | — | — | 2.9 | |||||||||||||||||||||||||||||
Cadence Aerospace, LLC | 15.1 | (6.1) | 9.0 | — | — | 9.0 | |||||||||||||||||||||||||||||
Capstone Acquisition Holdings, Inc. | 27.3 | (9.7) | 17.6 | — | — | 17.6 | |||||||||||||||||||||||||||||
Cardinal Parent, Inc. | 5.0 | (1.1) | 3.9 | — | — | 3.9 | |||||||||||||||||||||||||||||
CCS-CMGC Holdings, Inc. | 12.0 | (3.0) | 9.0 | — | — | 9.0 | |||||||||||||||||||||||||||||
Center for Autism and Related Disorders, LLC | 8.5 | (3.6) | 4.9 | — | — | 4.9 | |||||||||||||||||||||||||||||
Centric Brands LLC | 7.9 | (5.6) | 2.3 | — | — | 2.3 | |||||||||||||||||||||||||||||
Cipriani USA, Inc. | 4.1 | — | 4.1 | — | — | 4.1 | |||||||||||||||||||||||||||||
Commercial Trailer Leasing, Inc. | 7.7 | — | 7.7 | — | — | 7.7 | |||||||||||||||||||||||||||||
Comprehensive EyeCare Partners, LLC | 2.8 | (0.5) | 2.3 | — | — | 2.3 | |||||||||||||||||||||||||||||
Concert Golf Partners Holdco LLC | 0.6 | — | 0.6 | — | — | 0.6 | |||||||||||||||||||||||||||||
Consilio Midco Limited | 28.4 | — | 28.4 | — | — | 28.4 | |||||||||||||||||||||||||||||
Continental Acquisition Holdings, Inc. | 9.8 | — | 9.8 | — | — | 9.8 | |||||||||||||||||||||||||||||
CoreLogic, Inc. | 38.9 | — | 38.9 | — | — | 38.9 | |||||||||||||||||||||||||||||
Cority Software Inc. | 0.1 | — | 0.1 | — | — | 0.1 | |||||||||||||||||||||||||||||
Cozzini Bros., Inc. | 15.0 | — | 15.0 | — | — | 15.0 | |||||||||||||||||||||||||||||
Creation Holdings Inc. | 13.2 | (11.4) | 1.8 | — | — | 1.8 | |||||||||||||||||||||||||||||
CST Buyer Company | 6.1 | — | 6.1 | — | — | 6.1 | |||||||||||||||||||||||||||||
CVP Holdco, Inc. | 64.5 | — | 64.5 | — | — | 64.5 | |||||||||||||||||||||||||||||
DecoPac, Inc. | 16.5 | (2.4) | 14.1 | — | — | 14.1 | |||||||||||||||||||||||||||||
Denali Holdco LLC | 5.4 | — | 5.4 | — | — | 5.4 | |||||||||||||||||||||||||||||
DFC Global Facility Borrower III LLC | 103.4 | (73.1) | 30.3 | — | — | 30.3 | |||||||||||||||||||||||||||||
Diligent Corporation | 9.7 | — | 9.7 | — | — | 9.7 | |||||||||||||||||||||||||||||
DRS Holdings III, Inc. | 10.8 | — | 10.8 | — | — | 10.8 | |||||||||||||||||||||||||||||
DS Admiral Bidco, LLC | 0.1 | — | 0.1 | — | — | 0.1 | |||||||||||||||||||||||||||||
DTI Holdco, Inc. | 6.6 | (5.3) | 1.3 | — | — | 1.3 | |||||||||||||||||||||||||||||
Dynamic NC Aerospace Holdings, LLC | 7.1 | — | 7.1 | — | — | 7.1 |
(in millions) Portfolio Company | Total revolving and delayed draw loan commitments | Less: funded commitments | Total unfunded commitments | Less: commitments substantially at discretion of the Company | Less: unavailable commitments due to borrowing base or other covenant restrictions | Total net adjusted unfunded revolving and delayed draw commitments | |||||||||||||||||||||||||||||
Eckler Industries, Inc. | 5.9 | (5.0) | 0.9 | — | — | 0.9 | |||||||||||||||||||||||||||||
Elemica Parent, Inc. | 10.3 | (2.3) | 8.0 | — | — | 8.0 | |||||||||||||||||||||||||||||
Emergency Communications Network, LLC | 6.5 | — | 6.5 | — | — | 6.5 | |||||||||||||||||||||||||||||
EP Purchaser, LLC. | 22.4 | — | 22.4 | — | — | 22.4 | |||||||||||||||||||||||||||||
EP Wealth Advisors, LLC | 0.6 | (0.3) | 0.3 | — | — | 0.3 | |||||||||||||||||||||||||||||
Episerver, Inc. | 9.5 | — | 9.5 | — | — | 9.5 | |||||||||||||||||||||||||||||
EPS NASS Parent, Inc. | 6.6 | (0.2) | 6.4 | — | — | 6.4 | |||||||||||||||||||||||||||||
eResearch Technology, Inc. | 2.5 | — | 2.5 | — | — | 2.5 | |||||||||||||||||||||||||||||
Essential Services Holding Corporation | 29.8 | (1.0) | 28.8 | — | — | 28.8 | |||||||||||||||||||||||||||||
ExtraHop Networks, Inc. | 9.1 | — | 9.1 | — | — | 9.1 | |||||||||||||||||||||||||||||
FL Hawk Intermediate Holdings, Inc. | 1.0 | — | 1.0 | — | — | 1.0 | |||||||||||||||||||||||||||||
Flinn Scientific, Inc. | 10.0 | (5.9) | 4.1 | — | — | 4.1 | |||||||||||||||||||||||||||||
Flow Control Solutions, Inc. | 10.0 | — | 10.0 | — | — | 10.0 | |||||||||||||||||||||||||||||
FM:Systems Group, LLC | 1.5 | (1.5) | — | — | — | — | |||||||||||||||||||||||||||||
Forescout Technologies, Inc. | 0.1 | — | 0.1 | — | — | 0.1 | |||||||||||||||||||||||||||||
Foundation Risk Partners, Corp. | 36.5 | — | 36.5 | — | — | 36.5 | |||||||||||||||||||||||||||||
FS Squared Holding Corp. | 9.6 | (0.5) | 9.1 | — | — | 9.1 | |||||||||||||||||||||||||||||
FWR Holding Corporation | 2.2 | — | 2.2 | — | (0.1) | 2.1 | |||||||||||||||||||||||||||||
Galway Borrower LLC | 29.5 | — | 29.5 | — | — | 29.5 | |||||||||||||||||||||||||||||
Garden Fresh Restaurant Corp. | 7.5 | (7.5) | — | — | — | — | |||||||||||||||||||||||||||||
Genesis Acquisition Co. | 1.5 | (1.5) | — | — | — | — | |||||||||||||||||||||||||||||
GHX Ultimate Parent Corporation | 47.5 | — | 47.5 | — | — | 47.5 | |||||||||||||||||||||||||||||
Global Music Rights, LLC | 4.3 | — | 4.3 | — | — | 4.3 | |||||||||||||||||||||||||||||
GraphPAD Software, LLC | 1.2 | (0.3) | 0.9 | — | — | 0.9 | |||||||||||||||||||||||||||||
Green Street Parent, LLC (Green Street Intermediate Holdings, LLC) | 0.3 | — | 0.3 | — | — | 0.3 | |||||||||||||||||||||||||||||
HAI Acquisition Corporation | 19.0 | — | 19.0 | — | — | 19.0 | |||||||||||||||||||||||||||||
Harvey Tool Company, LLC | 13.5 | (0.1) | 13.4 | — | — | 13.4 | |||||||||||||||||||||||||||||
HealthEdge Software, Inc. | 4.1 | (1.3) | 2.8 | — | — | 2.8 | |||||||||||||||||||||||||||||
Heelstone Renewable Energy, LLC | 54.0 | — | 54.0 | — | — | 54.0 | |||||||||||||||||||||||||||||
Help/Systems Holdings, Inc. | 7.5 | — | 7.5 | — | — | 7.5 | |||||||||||||||||||||||||||||
HH-Stella, Inc. | 18.8 | (0.5) | 18.3 | — | — | 18.3 | |||||||||||||||||||||||||||||
High Street Buyer, Inc. | 32.6 | — | 32.6 | — | — | 32.6 | |||||||||||||||||||||||||||||
Highline Aftermarket Acquisition, LLC | 9.5 | (4.0) | 5.5 | — | — | 5.5 | |||||||||||||||||||||||||||||
Hometown Food Company | 3.9 | (0.5) | 3.4 | — | — | 3.4 | |||||||||||||||||||||||||||||
Huskies Parent, Inc. | 3.3 | — | 3.3 | — | — | 3.3 | |||||||||||||||||||||||||||||
IntraPac International LLC | 19.2 | (6.2) | 13.0 | — | — | 13.0 | |||||||||||||||||||||||||||||
JDC Healthcare Management, LLC | 4.3 | (4.3) | — | — | — | — | |||||||||||||||||||||||||||||
Jim N Nicks Management LLC | 4.8 | (2.8) | 2.0 | — | — | 2.0 | |||||||||||||||||||||||||||||
Joyce Lane Financing SPV LLC | 1.4 | — | 1.4 | — | — | 1.4 | |||||||||||||||||||||||||||||
K2 Insurance Services, LLC | 9.3 | — | 9.3 | — | — | 9.3 | |||||||||||||||||||||||||||||
Kellermeyer Bergensons Services, LLC | 35.4 | — | 35.4 | — | — | 35.4 | |||||||||||||||||||||||||||||
Kene Acquisition, Inc. | 8.9 | (0.2) | 8.7 | — | — | 8.7 | |||||||||||||||||||||||||||||
Laboratories Bidco LLC | 44.6 | — | 44.6 | — | — | 44.6 | |||||||||||||||||||||||||||||
Lakers Buyer, Inc. | 20.4 | (2.2) | 18.2 | — | — | 18.2 | |||||||||||||||||||||||||||||
Lew's Intermediate Holdings, LLC | 2.3 | (0.6) | 1.7 | — | — | 1.7 | |||||||||||||||||||||||||||||
Lido Advisors, LLC | 4.5 | — | 4.5 | — | — | 4.5 | |||||||||||||||||||||||||||||
Majesco | 2.0 | — | 2.0 | — | — | 2.0 | |||||||||||||||||||||||||||||
Manna Pro Products, LLC | 7.0 | (1.9) | 5.1 | — | — | 5.1 | |||||||||||||||||||||||||||||
Marcone Yellowstone Buyer Inc. | 18.7 | — | 18.7 | — | — | 18.7 | |||||||||||||||||||||||||||||
Marmic Purchaser, LLC | 9.1 | — | 9.1 | — | — | 9.1 | |||||||||||||||||||||||||||||
Masergy Holdings, Inc. | 2.5 | — | 2.5 | — | — | 2.5 | |||||||||||||||||||||||||||||
Maverick Acquisition, Inc. | 16.9 | — | 16.9 | — | — | 16.9 | |||||||||||||||||||||||||||||
Mavis Tire Express Services Topco Corp. | 32.9 | (0.2) | 32.7 | — | — | 32.7 | |||||||||||||||||||||||||||||
McKenzie Creative Brands, LLC | 4.5 | — | 4.5 | — | — | 4.5 | |||||||||||||||||||||||||||||
Micromeritics Instrument Corp. | 4.1 | (0.1) | 4.0 | — | — | 4.0 | |||||||||||||||||||||||||||||
Ministry Brands, LLC | 10.9 | — | 10.9 | — | — | 10.9 | |||||||||||||||||||||||||||||
MMIT Holdings, LLC | 4.6 | — | 4.6 | — | — | 4.6 | |||||||||||||||||||||||||||||
Monica Holdco (US), Inc. | 3.6 | — | 3.6 | — | — | 3.6 |
(in millions) Portfolio Company | Total revolving and delayed draw loan commitments | Less: funded commitments | Total unfunded commitments | Less: commitments substantially at discretion of the Company | Less: unavailable commitments due to borrowing base or other covenant restrictions | Total net adjusted unfunded revolving and delayed draw commitments | |||||||||||||||||||||||||||||
MRI Software LLC | 11.8 | — | 11.8 | — | — | 11.8 | |||||||||||||||||||||||||||||
n2y Holding, LLC | 0.1 | — | 0.1 | — | — | 0.1 | |||||||||||||||||||||||||||||
NAS, LLC | 3.0 | — | 3.0 | — | — | 3.0 | |||||||||||||||||||||||||||||
National Intergovernmental Purchasing Alliance Company | 9.0 | — | 9.0 | — | — | 9.0 | |||||||||||||||||||||||||||||
Navisun LLC | 16.8 | — | 16.8 | — | — | 16.8 | |||||||||||||||||||||||||||||
NCWS Intermediate, Inc. | 1.0 | — | 1.0 | — | — | 1.0 | |||||||||||||||||||||||||||||
Nelipak European Holdings Cooperatief U.A. | 0.6 | (0.2) | 0.4 | — | — | 0.4 | |||||||||||||||||||||||||||||
Nest Topco Borrower Inc. | 119.1 | — | 119.1 | — | — | 119.1 | |||||||||||||||||||||||||||||
NMC Skincare Intermediate Holdings II, LLC | 9.1 | (7.3) | 1.8 | — | — | 1.8 | |||||||||||||||||||||||||||||
NMN Holdings III Corp | 12.5 | (1.1) | 11.4 | — | — | 11.4 | |||||||||||||||||||||||||||||
North American Fire Holdings, LLC | 23.9 | — | 23.9 | — | — | 23.9 | |||||||||||||||||||||||||||||
North American Science Associates, LLC | 6.0 | — | 6.0 | — | — | 6.0 | |||||||||||||||||||||||||||||
North Haven Falcon Buyer, LLC | 7.1 | — | 7.1 | — | — | 7.1 | |||||||||||||||||||||||||||||
North Haven Stack Buyer, LLC | 10.0 | (0.2) | 9.8 | — | — | 9.8 | |||||||||||||||||||||||||||||
NSM Insurance Group, LLC | 7.7 | (4.1) | 3.6 | — | — | 3.6 | |||||||||||||||||||||||||||||
NueHealth Performance, LLC | 3.8 | (3.3) | 0.5 | — | — | 0.5 | |||||||||||||||||||||||||||||
Olympia Acquisition, Inc. | 11.0 | (10.3) | 0.7 | — | — | 0.7 | |||||||||||||||||||||||||||||
OneDigital Borrower LLC | 7.5 | (0.5) | 7.0 | — | — | 7.0 | |||||||||||||||||||||||||||||
Padres L.P. | 64.2 | — | 64.2 | — | — | 64.2 | |||||||||||||||||||||||||||||
Pathway Vet Alliance LLC | 1.9 | — | 1.9 | — | — | 1.9 | |||||||||||||||||||||||||||||
Paya, Inc. | 4.5 | — | 4.5 | — | — | 4.5 | |||||||||||||||||||||||||||||
PDI TA Holdings, Inc. | 11.6 | — | 11.6 | — | — | 11.6 | |||||||||||||||||||||||||||||
Pegasus Global Enterprise Holdings, LLC | 45.9 | — | 45.9 | — | — | 45.9 | |||||||||||||||||||||||||||||
People Corporation | 33.1 | (1.2) | 31.9 | — | — | 31.9 | |||||||||||||||||||||||||||||
Perforce Software, Inc. | 0.5 | — | 0.5 | — | — | 0.5 | |||||||||||||||||||||||||||||
Petroleum Service Group LLC | 13.5 | (1.5) | 12.0 | — | — | 12.0 | |||||||||||||||||||||||||||||
Pluralsight, Inc. | 0.3 | — | 0.3 | — | — | 0.3 | |||||||||||||||||||||||||||||
Practicetek Purchaser, LLC | 2.9 | — | 2.9 | — | — | 2.9 | |||||||||||||||||||||||||||||
Precinmac (US) Holdings Inc. | 15.5 | — | 15.5 | — | — | 15.5 | |||||||||||||||||||||||||||||
Premier Specialties, Inc. | 11.0 | — | 11.0 | — | — | 11.0 | |||||||||||||||||||||||||||||
Premise Health Holding Corp. | 36.0 | (12.6) | 23.4 | — | — | 23.4 | |||||||||||||||||||||||||||||
Production Resource Group, LLC | 5.0 | — | 5.0 | — | — | 5.0 | |||||||||||||||||||||||||||||
ProfitSolv Purchaser, Inc. | 17.5 | — | 17.5 | — | — | 17.5 | |||||||||||||||||||||||||||||
Project Essential Bidco, Inc. | 1.1 | — | 1.1 | — | — | 1.1 | |||||||||||||||||||||||||||||
Project Potter Buyer, LLC | 5.5 | — | 5.5 | — | — | 5.5 | |||||||||||||||||||||||||||||
Proofpoint, Inc. | 3.1 | — | 3.1 | — | — | 3.1 | |||||||||||||||||||||||||||||
Pyramid Management Advisors, LLC | 9.6 | (9.6) | — | — | — | — | |||||||||||||||||||||||||||||
QC Supply, LLC | 10.0 | (8.1) | 1.9 | — | (1.9) | — | |||||||||||||||||||||||||||||
QF Holdings, Inc. | 5.0 | — | 5.0 | — | — | 5.0 | |||||||||||||||||||||||||||||
Radius Aerospace Europe Limited | 2.9 | — | 2.9 | — | — | 2.9 | |||||||||||||||||||||||||||||
Raptor Technologies, LLC | 1.6 | (0.8) | 0.8 | — | — | 0.8 | |||||||||||||||||||||||||||||
Reddy Ice LLC | 4.1 | — | 4.1 | — | — | 4.1 | |||||||||||||||||||||||||||||
Redwood Services, LLC | 6.4 | — | 6.4 | — | — | 6.4 | |||||||||||||||||||||||||||||
Reef Lifestyle, LLC | 32.8 | (5.2) | 27.6 | — | — | 27.6 | |||||||||||||||||||||||||||||
Registrar Intermediate, LLC | 28.0 | — | 28.0 | — | — | 28.0 | |||||||||||||||||||||||||||||
Relativity ODA LLC | 3.8 | — | 3.8 | — | — | 3.8 | |||||||||||||||||||||||||||||
Repairify, Inc. | 7.3 | — | 7.3 | — | — | 7.3 | |||||||||||||||||||||||||||||
Retriever Medical/Dental Payments LLC | 3.5 | — | 3.5 | — | — | 3.5 | |||||||||||||||||||||||||||||
Rialto Management Group, LLC | 1.3 | (0.2) | 1.1 | — | — | 1.1 | |||||||||||||||||||||||||||||
Rodeo AcquisitionCo LLC | 6.2 | (0.5) | 5.7 | — | — | 5.7 | |||||||||||||||||||||||||||||
RSC Acquisition, Inc. | 0.6 | — | 0.6 | — | — | 0.6 | |||||||||||||||||||||||||||||
RTI Surgical, Inc. | 15.9 | (4.0) | 11.9 | — | — | 11.9 | |||||||||||||||||||||||||||||
Safe Home Security, Inc. | 9.9 | — | 9.9 | — | — | 9.9 | |||||||||||||||||||||||||||||
Saldon Holdings, Inc. | 2.3 | — | 2.3 | — | — | 2.3 | |||||||||||||||||||||||||||||
SCIH Salt Holdings Inc. | 7.5 | (4.1) | 3.4 | — | — | 3.4 | |||||||||||||||||||||||||||||
SCM Insurance Services Inc. | 4.3 | — | 4.3 | — | — | 4.3 | |||||||||||||||||||||||||||||
SelectQuote, Inc. | 22.6 | — | 22.6 | — | — | 22.6 | |||||||||||||||||||||||||||||
SFE Intermediate HoldCo LLC | 10.2 | — | 10.2 | — | — | 10.2 |
(in millions) Portfolio Company | Total revolving and delayed draw loan commitments | Less: funded commitments | Total unfunded commitments | Less: commitments substantially at discretion of the Company | Less: unavailable commitments due to borrowing base or other covenant restrictions | Total net adjusted unfunded revolving and delayed draw commitments | |||||||||||||||||||||||||||||
Shock Doctor, Inc. | 2.5 | (1.2) | 1.3 | — | — | 1.3 | |||||||||||||||||||||||||||||
Shur-Co Acquisition, Inc. | 5.0 | (1.0) | 4.0 | — | — | 4.0 | |||||||||||||||||||||||||||||
Sigma Electric Manufacturing Corporation | 7.5 | (0.4) | 7.1 | — | — | 7.1 | |||||||||||||||||||||||||||||
SiroMed Physician Services, Inc. | 7.1 | — | 7.1 | — | — | 7.1 | |||||||||||||||||||||||||||||
SM Wellness Holdings, Inc. | 3.8 | — | 3.8 | — | — | 3.8 | |||||||||||||||||||||||||||||
Spectra Finance, LLC | 24.2 | (4.7) | 19.5 | — | — | 19.5 | |||||||||||||||||||||||||||||
Spring Insurance Solutions, LLC | 5.6 | — | 5.6 | — | — | 5.6 | |||||||||||||||||||||||||||||
SSE Buyer, Inc. | 6.5 | — | 6.5 | — | — | 6.5 | |||||||||||||||||||||||||||||
Star US Bidco LLC | 8.5 | — | 8.5 | — | — | 8.5 | |||||||||||||||||||||||||||||
Stealth Holding LLC | 7.3 | — | 7.3 | — | — | 7.3 | |||||||||||||||||||||||||||||
Sun Acquirer Corp. | 42.3 | — | 42.3 | — | — | 42.3 | |||||||||||||||||||||||||||||
Sundance Group Holdings, Inc. | 7.6 | — | 7.6 | — | — | 7.6 | |||||||||||||||||||||||||||||
Sunshine Sub, LLC | 5.8 | — | 5.8 | — | — | 5.8 | |||||||||||||||||||||||||||||
Symplr Software Inc. | 7.0 | — | 7.0 | — | — | 7.0 | |||||||||||||||||||||||||||||
Synergy HomeCare Franchising, LLC | 4.2 | — | 4.2 | — | — | 4.2 | |||||||||||||||||||||||||||||
TA/WEG Holdings, LLC | 24.4 | (1.5) | 22.9 | — | — | 22.9 | |||||||||||||||||||||||||||||
Taymax Group, L.P. (fka Taymax Group Acquisition, LLC) | 1.9 | (0.4) | 1.5 | — | (0.3) | 1.2 | |||||||||||||||||||||||||||||
TCP Hawker Intermediate LLC | 0.2 | — | 0.2 | — | — | 0.2 | |||||||||||||||||||||||||||||
Teligent, Inc. | 3.0 | — | 3.0 | — | (3.0) | — | |||||||||||||||||||||||||||||
TerSera Therapeutics LLC | 0.1 | — | 0.1 | — | — | 0.1 | |||||||||||||||||||||||||||||
The Alaska Club Partners, LLC, Athletic Club Partners LLC and The Alaska Club, Inc. | 1.1 | — | 1.1 | — | — | 1.1 | |||||||||||||||||||||||||||||
The Ultimate Software Group, Inc. | 10.0 | (0.1) | 9.9 | — | — | 9.9 | |||||||||||||||||||||||||||||
The Ultimus Group Midco, LLC | 6.9 | (4.0) | 2.9 | — | — | 2.9 | |||||||||||||||||||||||||||||
Therapy Brands Holdings LLC | 8.6 | — | 8.6 | — | — | 8.6 | |||||||||||||||||||||||||||||
Thermostat Purchaser III, Inc. | 11.7 | — | 11.7 | — | — | 11.7 | |||||||||||||||||||||||||||||
THG Acquisition, LLC | 25.5 | — | 25.5 | — | — | 25.5 | |||||||||||||||||||||||||||||
TWH Infrastructure Industries, Inc. | 0.1 | (0.1) | — | — | — | — | |||||||||||||||||||||||||||||
United Digestive MSO Parent, LLC | 39.9 | — | 39.9 | — | — | 39.9 | |||||||||||||||||||||||||||||
US Salt Investors, LLC | 9.9 | — | 9.9 | — | — | 9.9 | |||||||||||||||||||||||||||||
Verscend Holding Corp. | 22.5 | (0.1) | 22.4 | — | — | 22.4 | |||||||||||||||||||||||||||||
Veterinary Practice Partners, LLC | 3.2 | — | 3.2 | — | — | 3.2 | |||||||||||||||||||||||||||||
VLS Recovery Services, LLC | 23.8 | (0.5) | 23.3 | — | — | 23.3 | |||||||||||||||||||||||||||||
VPROP Operating, LLC | 7.1 | — | 7.1 | — | — | 7.1 | |||||||||||||||||||||||||||||
VS Buyer, LLC | 8.1 | — | 8.1 | — | — | 8.1 | |||||||||||||||||||||||||||||
Wash Encore Holdings, LLC | 36.2 | — | 36.2 | — | — | 36.2 | |||||||||||||||||||||||||||||
Watchfire Enterprises, Inc. | 2.0 | — | 2.0 | — | — | 2.0 | |||||||||||||||||||||||||||||
Watermill Express, LLC | 1.9 | — | 1.9 | — | — | 1.9 | |||||||||||||||||||||||||||||
WebPT, Inc. | 0.1 | — | 0.1 | — | — | 0.1 | |||||||||||||||||||||||||||||
Wellness AcquisitionCo, Inc. | 0.1 | — | 0.1 | — | — | 0.1 | |||||||||||||||||||||||||||||
Wildcat BuyerCo, Inc. | 4.1 | — | 4.1 | — | — | 4.1 | |||||||||||||||||||||||||||||
WorkWave Intermediate II, LLC | 5.2 | — | 5.2 | — | — | 5.2 | |||||||||||||||||||||||||||||
WSHP FC Acquisition LLC | 8.5 | (2.7) | 5.8 | — | — | 5.8 | |||||||||||||||||||||||||||||
Xifin, Inc. | 8.9 | — | 8.9 | — | — | 8.9 | |||||||||||||||||||||||||||||
Zemax Software Holdings, LLC | 4.1 | (2.0) | 2.1 | — | — | 2.1 | |||||||||||||||||||||||||||||
2,785.0 | (302.5) | 2,482.5 | — | (7.0) | 2,475.5 |
(in millions) Portfolio Company | Total private equity commitments | Less: funded private equity commitments | Total unfunded private equity commitments | Less: private equity commitments substantially at the discretion of the Company | Total net adjusted unfunded private equity commitments | ||||||||||
Partnership Capital Growth Investors III, L.P. | $ | 5.0 | $ | (4.4 | ) | $ | 0.6 | $ | — | $ | 0.6 | ||||
PCG-Ares Sidecar Investment, L.P. and PCG-Ares Sidecar Investment II, L.P. | 50.0 | (11.6 | ) | 38.4 | (38.4 | ) | — | ||||||||
Piper Jaffray Merchant Banking Fund I, L.P. | 2.0 | (1.8 | ) | 0.2 | — | 0.2 | |||||||||
European Capital UK SME Debt LP | 60.3 | (49.2 | ) | 11.1 | (11.1 | ) | — | ||||||||
$ | 117.3 | $ | (67.0 | ) | $ | 50.3 | $ | (49.5 | ) | $ | 0.8 |
(in millions) Company | Total private equity commitments | Less: funded private equity commitments | Total unfunded private equity commitments | Less: private equity commitments substantially at the discretion of the Company | Total net adjusted unfunded private equity commitments | ||||||||||||
PCG-Ares Sidecar Investment, L.P. and PCG-Ares Sidecar Investment II, L.P. | $ | 50.0 | $ | (12.4) | $ | 37.6 | $ | (37.6) | $ | — | |||||||
European Capital UK SME Debt LP | 60.6 | (54.9) | 5.7 | (5.7) | — | ||||||||||||
$ | 110.6 | $ | (67.3) | $ | 43.3 | $ | (43.3) | $ | — |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
Healthcare Services | ||||||||||||||||||||||||||||||||||||||||||||
Absolute Dental Group LLC and Absolute Dental Equity, LLC (5)(15) | Dental services provider | First lien senior secured loan ($9.2 par due 9/2022) | 11.00% PIK (Libor + 10.00%/Q) | 1/5/2016 | $ | 9.2 | $ | 9.2 | (2)(11) | |||||||||||||||||||||||||||||||||||
First lien senior secured loan ($16.4 par due 9/2022) | 11.00% PIK (Libor + 10.00%/Q) | 1/5/2016 | 16.4 | 16.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A pref units (14,750,000 units) | 1/5/2016 | 4.7 | 5.3 | (2) | ||||||||||||||||||||||||||||||||||||||||
Common units (7,200,000 units) | 1/5/2016 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||||
30.3 | 30.9 | |||||||||||||||||||||||||||||||||||||||||||
Acessa Health Inc. (fka HALT Medical, Inc.) | Medical supply provider | Common stock (569,823 shares) | 6/22/2017 | 0.1 | — | |||||||||||||||||||||||||||||||||||||||
ADCS Billings Intermediate Holdings, LLC (15) | Dermatology practice | First lien senior secured revolving loan ($4.8 par due 5/2022) | 6.75% (Libor + 5.75%/Q) | 5/18/2016 | 4.8 | 4.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||
ADG, LLC and RC IV GEDC Investor LLC (15) | Dental services provider | First lien senior secured revolving loan ($7.7 par due 9/2022) | 7.50% (Libor + 1.50% Cash, 2.75% PIK/M) | 9/28/2016 | 7.7 | 6.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($103.3 par due 3/2024) | 9/28/2016 | 89.0 | 77.5 | (2)(10) | ||||||||||||||||||||||||||||||||||||||||
Membership units (3,000,000 units) | 9/28/2016 | 3.0 | — | (2) | ||||||||||||||||||||||||||||||||||||||||
99.7 | 84.4 | |||||||||||||||||||||||||||||||||||||||||||
Alteon Health, LLC | Provider of physician management services | First lien senior secured loan ($2.8 par due 9/2023) | 7.50% (Libor + 6.50%/Q) | 5/15/2017 | 2.8 | 2.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Athenahealth, Inc., VVC Holding Corp., Virence Intermediate Holding Corp., and Virence Holdings LLC (15) | Revenue cycle management provider to the physician practices and acute care hospitals | Second lien senior secured loan ($210.3 par due 2/2027) | 8.65% (Libor + 8.50%/M) | 2/11/2019 | 210.3 | 210.3 | (2) | |||||||||||||||||||||||||||||||||||||
Senior preferred stock (121,810 shares) | 11.28% PIK (Libor + 11.13%/Q) | 2/11/2019 | 149.4 | 149.4 | (2) | |||||||||||||||||||||||||||||||||||||||
Class A interests (0.39% interest) | 2/11/2019 | 9.0 | 13.9 | (2) | ||||||||||||||||||||||||||||||||||||||||
368.7 | 373.6 | |||||||||||||||||||||||||||||||||||||||||||
Bearcat Buyer, Inc. and Bearcat Parent, Inc. (15) | Provider of central institutional review boards over clinical trials | First lien senior secured revolving loan ($0.1 par due 7/2024) | 5.25% (Libor + 4.25%/Q) | 7/9/2019 | 0.1 | 0.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($30.6 par due 7/2026) | 5.25% (Libor + 4.25%/Q) | 7/9/2019 | 30.6 | 30.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($17.0 par due 7/2026) | 5.25% (Libor + 4.25%/Q) | 9/10/2019 | 17.0 | 17.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($64.2 par due 7/2027) | 9.25% (Libor + 8.25%/Q) | 7/9/2019 | 64.2 | 64.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($5.3 par due 7/2027) | 9.25% (Libor + 8.25%/Q) | 7/9/2019 | 5.3 | 5.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($12.7 par due 7/2027) | 9.25% (Libor + 8.25%/Q) | 9/10/2019 | 12.7 | 12.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class B common units (4,211 units) | 7/9/2019 | 4.2 | 8.3 | (2) | ||||||||||||||||||||||||||||||||||||||||
134.1 | 138.2 | |||||||||||||||||||||||||||||||||||||||||||
CCS-CMGC Holdings, Inc. (15) | Correctional facility healthcare operator | First lien senior secured revolving loan | 10/1/2018 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($34.3 par due 10/2025) | 5.67% (Libor + 5.50%/Q) | 9/25/2018 | 34.1 | 32.9 | (2) | |||||||||||||||||||||||||||||||||||||||
34.1 | 32.9 | |||||||||||||||||||||||||||||||||||||||||||
Center for Autism and Related Disorders, LLC (15) | Autism treatment and services provider specializing in applied behavior analysis therapy | First lien senior secured revolving loan ($7.5 par due 11/2023) | 4.73% (Libor + 4.50%/Q) | 11/21/2018 | 7.5 | 7.1 | (2)(14) | |||||||||||||||||||||||||||||||||||||
Comprehensive EyeCare Partners, LLC (15) | Vision care practice management company | First lien senior secured revolving loan ($1.3 par due 2/2024) | 7.00% (Libor + 5.75%/Q) | 2/14/2018 | 1.3 | 1.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($5.3 par due 2/2024) | 7.00% (Libor + 5.75%/Q) | 2/14/2018 | 5.3 | 5.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.0 par due 2/2024) | 8.00% (Base Rate + 4.75%/Q) | 2/14/2018 | 1.0 | 1.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($2.7 par due 2/2024) | 7.00% (Libor + 5.75%/Q) | 2/14/2018 | 2.7 | 2.7 | (2)(11) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||
Investment Funds and Vehicles | |||||||||||||||||||
HCI Equity, LLC (8)(9)(10) | Investment company | Member interest (100.00% interest) | 4/1/2010 | $ | — | $ | 0.1 | ||||||||||||
Imperial Capital Private Opportunities, LP (10)(25) | Investment partnership | Limited partnership interest (80.00% interest) | 5/10/2007 | 4.0 | 16.8 | (2) | |||||||||||||
Partnership Capital Growth Fund I, L.P. (10) | Investment partnership | Limited partnership interest (25.00% interest) | 6/16/2006 | — | 0.1 | (2) | |||||||||||||
Partnership Capital Growth Investors III, L.P. (10)(25) | Investment partnership | Limited partnership interest (2.50% interest) | 10/5/2011 | 2.7 | 3.2 | (2) | |||||||||||||
PCG-Ares Sidecar Investment II, L.P. (10)(25) | Investment partnership | Limited partnership interest (100.00% interest) | 10/31/2014 | 7.5 | 12.5 | (2) | |||||||||||||
PCG-Ares Sidecar Investment, L.P. (10)(25) | Investment partnership | Limited partnership interest (100.00% interest) | 5/22/2014 | 3.4 | 4.2 | (2) | |||||||||||||
Piper Jaffray Merchant Banking Fund I, L.P. (10)(25) | Investment partnership | Limited partnership interest (2.00% interest) | 8/16/2012 | 1.7 | 1.5 | ||||||||||||||
Senior Direct Lending Program, LLC (8)(10)(27) | Co-investment vehicle | Subordinated certificates ($269.8 par due 12/2036)(21) | 9.00% (Libor + 8.00%/Q) (21) | 7/27/2016 | 269.8 | 269.8 | |||||||||||||
Member interest (87.50% interest) | 7/27/2016 | — | — | ||||||||||||||||
269.8 | 269.8 | ||||||||||||||||||
Senior Secured Loan Fund LLC (8)(11)(26) | Co-investment vehicle | Subordinated certificates ($2,004.0 par due 12/2024)(20) | 9.00% (Libor + 8.00%/M) (20) | 10/30/2009 | 1,938.4 | 1,914.2 | |||||||||||||
Member interest (87.50% interest) | 10/30/2009 | — | — | ||||||||||||||||
1,938.4 | 1,914.2 | ||||||||||||||||||
VSC Investors LLC (10) | Investment company | Membership interest (1.95% interest) | 1/24/2008 | 0.3 | 1.2 | (2) | |||||||||||||
2,227.8 | 2,223.6 | 43.05% | |||||||||||||||||
Healthcare Services | |||||||||||||||||||
Absolute Dental Management LLC and ADM Equity, LLC | Dental services provider | First lien senior secured loan ($18.8 par due 1/2022) | 9.06% (Libor + 8.06%/Q) | 1/5/2016 | 18.8 | 17.8 | (3)(19) | ||||||||||||
First lien senior secured loan ($5.0 par due 1/2022) | 9.06% (Libor + 8.06%/Q) | 1/5/2016 | 5.0 | 4.8 | (4)(19) | ||||||||||||||
Class A preferred units (4,000,000 units) | 1/5/2016 | 4.0 | 0.8 | (2) | |||||||||||||||
Class A common units (4,000,000 units) | 1/5/2016 | — | 0.8 | (2) | |||||||||||||||
27.8 | 24.2 | ||||||||||||||||||
ADCS Billings Intermediate Holdings, LLC (24) | Dermatology practice | First lien senior secured revolving loan ($1.6 par due 5/2022) | 8.50% (Base Rate + 4.75%/Q) | 5/18/2016 | 1.6 | 1.6 | (2)(19)(23) | ||||||||||||
ADG, LLC and RC IV GEDC Investor LLC (24) | Dental services provider | First lien senior secured revolving loan ($2.0 par due 9/2022) | 5.75% (Libor + 4.75%/Q) | 9/28/2016 | 2.0 | 2.0 | (2)(19) | ||||||||||||
Second lien senior secured loan ($87.5 par due 3/2024) | 10.00% (Libor + 9.00%/Q) | 9/28/2016 | 87.5 | 87.5 | (2)(19) | ||||||||||||||
Membership units (3,000,000 units) | 9/28/2016 | 3.0 | 3.0 | (2) | |||||||||||||||
92.5 | 92.5 | ||||||||||||||||||
Alegeus Technologies Holdings Corp. | Benefits administration and transaction processing provider | Preferred stock (2,997 shares) | 12/13/2013 | 3.1 | 2.2 | ||||||||||||||
Common stock (3 shares) | 12/13/2013 | — | — | ||||||||||||||||
3.1 | 2.2 | ||||||||||||||||||
Argon Medical Devices, Inc. | Manufacturer and marketer of single-use specialty medical devices | Second lien senior secured loan ($9.0 par due 6/2022) | 10.50% (Libor + 9.50%/Q) | 12/23/2015 | 8.8 | 9.0 | (2)(19) | ||||||||||||
AwarePoint Corporation | Healthcare technology platform developer | First lien senior secured loan ($8.8 par due 6/2018) | 11.50% (Libor + 10.50%/M) | 9/5/2014 | 8.6 | 8.8 | (2)(19) | ||||||||||||
Warrant to purchase up to 3,213,367 shares of Series 1 preferred stock (expires 9/2024) | 11/14/2014 | — | 0.6 | (2) | |||||||||||||||
8.6 | 9.4 | ||||||||||||||||||
CCS Intermediate Holdings, LLC and CCS Group Holdings, LLC (24) | Correctional facility healthcare operator | First lien senior secured revolving loan ($3.8 par due 7/2019) | 5.00% (Libor + 4.00%/Q) | 7/23/2014 | 3.8 | 3.2 | (2)(19)(23) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
10.3 | 10.2 | |||||||||||||||||||||||||||||||||||||||||||
Convey Health Solutions, Inc. | Healthcare workforce management software provider | First lien senior secured loan ($3.1 par due 9/2026) | 6.25% (Libor + 5.25%/Q) | 9/4/2019 | 3.1 | 3.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($2.3 par due 9/2026) | 10.00% (Libor + 9.00%/Q) | 4/8/2020 | 2.3 | 2.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
5.4 | 5.4 | |||||||||||||||||||||||||||||||||||||||||||
CVP Holdco, Inc. and OMERS Wildcats Investment Holdings LLC (15) | Veterinary hospital operator | First lien senior secured revolving loan | 10/31/2019 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($53.2 par due 10/2025) | 6.25% (Libor + 5.25%/Q) | 10/31/2019 | 53.2 | 53.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($31.3 par due 10/2025) | 6.25% (Libor + 5.25%/Q) | 10/31/2019 | 31.3 | 31.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Common stock (32,429 shares) | 10/31/2019 | 10.0 | 11.9 | (2) | ||||||||||||||||||||||||||||||||||||||||
94.5 | 96.4 | |||||||||||||||||||||||||||||||||||||||||||
D4C Dental Brands HoldCo, Inc. and Bambino Group Holdings, LLC | Dental services provider | Class A preferred units (1,000,000 units) | 12/21/2016 | 1.0 | 1.0 | (2) | ||||||||||||||||||||||||||||||||||||||
DCA Investment Holding LLC (15) | Multi-branded dental practice management | First lien senior secured revolving loan ($5.7 par due 7/2021) | 6.25% (Libor + 5.25%/Q) | 7/2/2015 | 5.7 | 5.5 | (2)(11)(14) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($18.1 par due 7/2021) | 6.25% (Libor + 5.25%/Q) | 7/2/2015 | 18.1 | 17.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
23.8 | 23.1 | |||||||||||||||||||||||||||||||||||||||||||
Emerus Holdings, Inc. | Freestanding 24-hour emergency care micro-hospitals operator | First lien senior secured loan ($16.9 par due 2/2022) | 14.00% | 2/21/2019 | 16.9 | 16.9 | (2) | |||||||||||||||||||||||||||||||||||||
Evolent Health LLC and Evolent Health, Inc. (15) | Medical technology company focused on value based care services and payment solutions | First lien senior secured loan ($67.1 par due 12/2024) | 9.00% (Libor + 8.00%/Q) | 12/30/2019 | 61.2 | 75.9 | (2)(6)(11) | |||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 1,354,968 shares of common stock (expires 1/2025) | 12/30/2019 | 5.9 | 7.0 | (2)(6) | ||||||||||||||||||||||||||||||||||||||||
67.1 | 82.9 | |||||||||||||||||||||||||||||||||||||||||||
GHX Ultimate Parent Corporation, Commerce Parent, Inc. and Commerce Topco, LLC | On-demand supply chain automation solutions provider to the healthcare industry | Second lien senior secured loan ($34.5 par due 6/2025) | 9.00% (Libor + 8.00%/Q) | 6/30/2017 | 34.3 | 34.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($55.0 par due 6/2025) | 9.00% (Libor + 8.00%/Q) | 1/13/2020 | 55.0 | 55.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Series A preferred stock (110,425 shares) | 11.75% (Libor + 10.75%/Q) | 6/30/2017 | 166.9 | 166.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A units (14,013,303 units) | 6/30/2017 | 14.0 | 17.3 | (2) | ||||||||||||||||||||||||||||||||||||||||
270.2 | 273.7 | |||||||||||||||||||||||||||||||||||||||||||
Global Medical Response Inc | Emergency air medical services provider | Senior subordinated loan ($182.7 par due 3/2026) | 8.88% (Libor + 7.88%/Q) | 3/14/2018 | 182.7 | 182.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 115,733 units of common stock (expires 3/2028) | 3/14/2018 | 0.9 | 2.1 | (2) | ||||||||||||||||||||||||||||||||||||||||
183.6 | 184.8 | |||||||||||||||||||||||||||||||||||||||||||
HealthEdge Software, Inc. (15) | Provider of financial, administrative and clinical software platforms to the healthcare industry | First lien senior secured revolving loan | 4/9/2020 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($47.5 par due 4/2026) | 7.25% (Libor + 6.25%/M) | 12/16/2020 | 47.5 | 47.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($3.7 par due 4/2026) | 7.25% (Libor + 6.25%/M) | 4/9/2020 | 3.7 | 3.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($10.7 par due 4/2026) | 7.25% (Libor + 6.25%/M) | 4/9/2020 | 10.7 | 10.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
61.9 | 61.9 | |||||||||||||||||||||||||||||||||||||||||||
Hygiena Borrower LLC (15) | Adenosine triphosphate testing technology provider | Second lien senior secured loan ($2.5 par due 8/2023) | 8.75% (Libor + 7.75%/Q) | 8/26/2016 | 2.5 | 2.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($10.7 par due 8/2023) | 8.75% (Libor + 7.75%/Q) | 2/27/2017 | 10.7 | 10.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($11.1 par due 8/2023) | 8.75% (Libor + 7.75%/Q) | 6/29/2018 | 11.1 | 11.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($0.6 par due 8/2023) | 8.75% (Libor + 7.75%/Q) | 6/29/2018 | 0.6 | 0.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
24.9 | 24.9 |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||
First lien senior secured revolving loan ($1.6 par due 7/2019) | 6.75% (Base Rate + 3.00%/Q) | 7/23/2014 | 1.6 | 1.4 | (2)(19)(23) | ||||||||||||||
First lien senior secured loan ($6.6 par due 7/2021) | 5.00% (Libor + 4.00%/Q) | 7/23/2014 | 6.6 | 5.6 | (2)(19) | ||||||||||||||
Second lien senior secured loan ($135.0 par due 7/2022) | 9.38% (Libor + 8.38%/Q) | 7/23/2014 | 134.0 | 101.3 | (2)(19) | ||||||||||||||
Class A units (601,937 units) | 8/19/2010 | — | 0.1 | (2) | |||||||||||||||
146.0 | 111.6 | ||||||||||||||||||
Correctional Medical Group Companies, Inc. | Correctional facility healthcare operator | First lien senior secured loan ($3.1 par due 9/2021) | 9.38% (Libor + 8.38%/Q) | 9/29/2015 | 3.1 | 3.0 | (2)(19) | ||||||||||||
First lien senior secured loan ($48.8 par due 9/2021) | 9.38% (Libor + 8.38%/Q) | 9/29/2015 | 48.8 | 47.8 | (3)(19) | ||||||||||||||
51.9 | 50.8 | ||||||||||||||||||
D4C Dental Brands HoldCo, Inc. and Bambino Group Holdings, LLC (24) | Dental services provider | Class A preferred units (1,000,000 units) | 12/21/2016 | 1.0 | 1.0 | (2) | |||||||||||||
DCA Investment Holding, LLC (24) | Multi-branded dental practice management | First lien senior secured revolving loan ($2.1 par due 7/2021) | 8.00% (Base Rate + 4.25%/Q) | 7/2/2015 | 2.1 | 2.0 | (2)(19)(23) | ||||||||||||
First lien senior secured loan ($18.9 par due 7/2021) | 6.25% (Libor + 5.25%/Q) | 7/2/2015 | 18.8 | 18.5 | (4)(19) | ||||||||||||||
20.9 | 20.5 | ||||||||||||||||||
DNAnexus, Inc. | Bioinformatics company | First lien senior secured loan ($9.7 par due 10/2018) | 9.25% (Libor + 8.25%/M) | 3/21/2014 | 9.5 | 9.7 | (2)(19) | ||||||||||||
Warrant to purchase up to 909,092 units of Series C preferred stock (expires 3/2024) | 3/21/2014 | — | 0.1 | (2) | |||||||||||||||
9.5 | 9.8 | ||||||||||||||||||
Global Healthcare Exchange, LLC and GHX Ultimate Parent Corp. | On-demand supply chain automation solutions provider | Second lien senior secured loan ($47.5 par due 8/2023) | 9.75% (Libor + 8.75%/Q) | 8/18/2016 | 46.8 | 47.5 | (2)(19) | ||||||||||||
Class A common stock (1,788 shares) | 3/11/2014 | 1.8 | 1.8 | (2) | |||||||||||||||
Class B common stock (980 shares) | 3/11/2014 | — | 5.5 | (2) | |||||||||||||||
48.6 | 54.8 | ||||||||||||||||||
Greenphire, Inc. and RMCF III CIV XXIX, L.P (24) | Software provider for clinical trial management | First lien senior secured loan ($1.5 par due 12/2018) | 9.00% (Libor + 8.00%/M) | 12/19/2014 | 1.5 | 1.5 | (2)(19) | ||||||||||||
First lien senior secured loan ($3.6 par due 12/2018) | 9.00% (Libor + 8.00%/M) | 12/19/2014 | 3.6 | 3.6 | (2)(19) | ||||||||||||||
Limited partnership interest (99.90% interest) | 12/19/2014 | 1.0 | 1.2 | (2) | |||||||||||||||
6.1 | 6.3 | ||||||||||||||||||
Hygiena Borrower LLC (24) | Adenosine triphosphate testing technology provider | Second lien senior secured loan ($10.0 par due 8/2023) | 10.00% (Libor + 9.00%/Q) | 8/26/2016 | 10.0 | 10.0 | (2)(19) | ||||||||||||
INC Research Mezzanine Co-Invest, LLC | Pharmaceutical and biotechnology consulting services | Common stock (13,252 shares) | 9/27/2010 | — | 0.7 | (2) | |||||||||||||
Intermedix Corporation | Revenue cycle management provider to the emergency healthcare industry | Second lien senior secured loan ($112.0 par due 6/2020) | 9.25% (Libor + 8.25%/Q) | 12/27/2012 | 112.0 | 108.6 | (2)(19) | ||||||||||||
MC Acquisition Holdings I, LLC | Healthcare professional provider | Class A units (1,338,314 shares) | 1/17/2014 | 1.3 | 1.2 | (2) | |||||||||||||
MW Dental Holding Corp. (24) | Dental services provider | First lien senior secured revolving loan ($1.5 par due 4/2018) | 9.00% (Libor + 7.50%/Q) | 4/12/2011 | 1.5 | 1.5 | (2)(19) | ||||||||||||
First lien senior secured loan ($44.9 par due 4/2018) | 9.00% (Libor + 7.50%/Q) | 4/12/2011 | 44.9 | 44.9 | (2)(19) | ||||||||||||||
First lien senior secured loan ($47.3 par due 4/2018) | 9.00% (Libor + 7.50%/Q) | 4/12/2011 | 47.3 | 47.3 | (3)(19) | ||||||||||||||
First lien senior secured loan ($19.5 par due 4/2018) | 9.00% (Libor + 7.50%/Q) | 4/12/2011 | 19.5 | 19.5 | (4)(19) | ||||||||||||||
113.2 | 113.2 |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
JDC Healthcare Management, LLC (15) | Dental services provider | First lien senior secured revolving loan ($0.8 par due 4/2022) | 4/10/2017 | 0.5 | 0.6 | (2)(10) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($29.9 par due 4/2023) | 4/10/2017 | 27.9 | 23.1 | (2)(10) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($4.2 par due 4/2023) | 4/10/2017 | 3.9 | 3.2 | (2)(10) | ||||||||||||||||||||||||||||||||||||||||
32.3 | 26.9 | |||||||||||||||||||||||||||||||||||||||||||
LivaNova USA Inc. | Medical device company focused on treating cardiovascular and neurological diseases | First lien senior secured loan ($42.5 par due 6/2025) | 7.50% (Libor + 6.50%/Q) | 6/10/2020 | 42.5 | 42.0 | (11) | |||||||||||||||||||||||||||||||||||||
MB2 Dental Solutions, LLC (15) | Dental services provider | First lien senior secured revolving loan ($2.9 par due 9/2023) | 8.75% (Base Rate + 5.50%/Q) | 9/29/2017 | 2.9 | 2.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||
MCH Holdings, Inc. and MC Acquisition Holdings I, LLC | Healthcare professional provider | First lien senior secured loan ($113.5 par due 7/2021) | 8.50% (Libor + 7.00%/M) | 7/26/2017 | 113.5 | 113.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Class A units (1,438,643 shares) | 1/17/2014 | 1.5 | 1.1 | (2) | ||||||||||||||||||||||||||||||||||||||||
115.0 | 114.6 | |||||||||||||||||||||||||||||||||||||||||||
Minerva Surgical, Inc. (15) | Medical device company focused on women's health | First lien senior secured loan ($31.5 par due 12/2022) | 11.50% (Libor + 3.50% Cash, 6.00% PIK/Q) | 12/30/2019 | 30.7 | 31.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Napa Management Services Corporation and ASP NAPA Holdings, LLC | Anesthesia management services provider | Second lien senior secured loan ($72.8 par due 10/2023) | 12.00% PIK (Libor + 11.00%/Q) | 4/19/2016 | 72.8 | 67.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Preferred units (1,842 units) | 15.00% PIK | 6/29/2020 | 0.1 | 0.1 | (2) | |||||||||||||||||||||||||||||||||||||||
Senior preferred units (5,320 units) | 8.00% PIK | 6/29/2020 | 0.3 | 0.3 | (2) | |||||||||||||||||||||||||||||||||||||||
Class A units (25,277 units) | 4/19/2016 | 2.5 | 0.9 | (2) | ||||||||||||||||||||||||||||||||||||||||
75.7 | 68.3 | |||||||||||||||||||||||||||||||||||||||||||
NMN Holdings III Corp. and NMN Holdings LP (15) | Provider of complex rehabilitation technology solutions for patients with mobility loss | First lien senior secured revolving loan | 11/13/2018 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
Partnership units (30,000 units) | 11/13/2018 | 3.0 | 4.7 | (2) | ||||||||||||||||||||||||||||||||||||||||
3.0 | 4.7 | |||||||||||||||||||||||||||||||||||||||||||
NueHealth Performance, LLC (15) | Developer, builder and manager of specialty surgical hospitals and ambulatory surgery centers | First lien senior secured loan ($11.1 par due 9/2023) | 8.25% (Libor + 7.25%/M) | 9/27/2018 | 11.1 | 11.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.5 par due 9/2023) | 8.25% (Libor + 7.25%/M) | 9/27/2018 | 1.5 | 1.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
12.6 | 12.5 | |||||||||||||||||||||||||||||||||||||||||||
Olympia Acquisition, Inc. and Olympia TopCo, L.P. (15) | Behavioral health and special education platform provider | First lien senior secured revolving loan ($10.1 par due 9/2024) | 8.50% (Libor + 5.50% Cash, 2.00% PIK/Q) | 9/24/2019 | 10.1 | 9.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.0 par due 9/2026) | 8.50% (Libor + 5.50% Cash, 2.00% PIK/M) | 12/31/2020 | 0.1 | — | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($42.5 par due 9/2026) | 8.50% (Libor + 5.50% Cash, 2.00% PIK/M) | 9/24/2019 | 42.5 | 39.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A common units (9,549,000 units) | 9/24/2019 | 9.5 | 3.2 | (2) | ||||||||||||||||||||||||||||||||||||||||
62.2 | 51.6 | |||||||||||||||||||||||||||||||||||||||||||
OMH-HealthEdge Holdings, LLC | Provider of financial, administrative and clinical software platforms to the healthcare industry | First lien senior secured loan ($26.4 par due 10/2025) | 6.25% (Libor + 5.25%/Q) | 10/24/2019 | 26.4 | 26.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||
OneSmile Intermediate, LLC | Dental services provider | Senior subordinated loan ($8.5 par due 10/2026) | 8.00% PIK | 12/1/2020 | 8.5 | 7.1 | (2) | |||||||||||||||||||||||||||||||||||||
OSYS Holdings, LLC | Provider of technology-enabled solutions to pharmacies | Limited liability company membership interest (1.57%) | 11/21/2013 | 1.0 | 0.7 | (2) | ||||||||||||||||||||||||||||||||||||||
Pathway Vet Alliance LLC and Jedi Group Holdings LLC (15) | Veterinary hospital operator | First lien senior secured revolving loan | 3/31/2020 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($76.3 par due 3/2028) | 8.75% (Libor + 7.75%/M) | 3/31/2020 | 76.3 | 76.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class R common units (6,004,768 units) | 3/31/2020 | 6.0 | 8.0 | (2) | ||||||||||||||||||||||||||||||||||||||||
82.3 | 84.3 | |||||||||||||||||||||||||||||||||||||||||||
Performance Health Supply, Inc. | Distributor of rehabilitation supplies and equipment | Second lien senior secured loan ($84.0 par due 8/2023) | 11.50% PIK (Libor + 10.50%/Q) | 9/2/2015 | 83.3 | 74.8 | (2)(11) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||
My Health Direct, Inc. (24) | Healthcare scheduling exchange software solution provider | First lien senior secured revolving loan ($0.5 par due 9/2017) | 8.75% (Base Rate + 5.00%/M) | 9/18/2014 | 0.5 | 0.5 | (2)(19) | ||||||||||||
First lien senior secured loan ($1.3 par due 1/2018) | 10.75% | 9/18/2014 | 1.3 | 1.3 | (2) | ||||||||||||||
Warrant to purchase up to 4,548 shares of Series D preferred stock (expires 9/2024) | 9/18/2014 | — | — | (2) | |||||||||||||||
1.8 | 1.8 | ||||||||||||||||||
New Trident Holdcorp, Inc. | Outsourced mobile diagnostic healthcare service provider | Second lien senior secured loan ($80.0 par due 7/2020) | 10.75% (Libor + 9.50%/Q) | 8/6/2013 | 79.1 | 80.0 | (2)(19) | ||||||||||||
NMSC Holdings, Inc. and ASP NAPA Holdings, LLC | Anesthesia management services provider | Second lien senior secured loan ($72.8 par due 10/2023) | 11.00% (Libor + 10.00%/Q) | 4/19/2016 | 72.8 | 72.8 | (2)(19) | ||||||||||||
Class A units (25,277 units) | 4/19/2016 | 2.5 | 2.4 | (2) | |||||||||||||||
75.3 | 75.2 | ||||||||||||||||||
Nodality, Inc. | Biotechnology company | First lien senior secured loan ($2.3 par due 8/2016) | 11/12/2015 | 2.1 | 0.4 | (2)(18) | |||||||||||||
First lien senior secured loan ($10.9 par due 8/2016) | 4/25/2014 | 9.7 | 2.0 | (2)(18) | |||||||||||||||
Warrant to purchase up to 3,736,255 shares of common stock (expires 3/2026) | 3/15/16 | — | — | (2) | |||||||||||||||
11.8 | 2.4 | ||||||||||||||||||
NSM Sub Holdings Corp. (24) | Provider of customized mobility, rehab and adaptive seating systems | First lien senior secured revolving loan ($0.6 par due 10/2022) | 6.00% (Libor + 5.00%/Q) | 10/3/2016 | 0.6 | 0.6 | (2)(19) | ||||||||||||
First lien senior secured revolving loan ($0.3 par due 10/2022) | 7.75% (Base Rate + 4.00%/Q) | 10/3/2016 | 0.3 | 0.3 | (2)(19) | ||||||||||||||
0.9 | 0.9 | ||||||||||||||||||
nThrive, Inc. (fka Precyse Acquisition Corp.) | Provider of healthcare information management technology and services | Second lien senior secured loan ($10.0 par due 4/2023) | 10.75% (Libor + 9.75%/Q) | 4/20/2016 | 9.6 | 10.0 | (2)(19) | ||||||||||||
OmniSYS Acquisition Corporation, OmniSYS, LLC, and OSYS Holdings, LLC (24) | Provider of technology-enabled solutions to pharmacies | First lien senior secured loan ($5.9 par due 11/2018) | 8.50% (Libor + 7.50%/Q) | 11/21/2013 | 5.9 | 5.9 | (4)(19) | ||||||||||||
Limited liability company membership interest (1.57%) | 11/21/2013 | 1.0 | 0.7 | (2) | |||||||||||||||
6.9 | 6.6 | ||||||||||||||||||
Patterson Medical Supply, Inc. | Distributor of rehabilitation supplies and equipment | Second lien senior secured loan ($78.0 par due 8/2023) | 9.50% (Libor + 8.50%/Q) | 9/2/2015 | 76.1 | 78.0 | (2)(19) | ||||||||||||
PerfectServe, Inc. | Communications software platform provider for hospitals and physician practices | First lien senior secured loan ($9.0 par due 3/2020) | 9.00% (Libor + 8.00%/M) | 9/15/2015 | 8.7 | 9.0 | (2)(19) | ||||||||||||
First lien senior secured loan ($2.0 par due 6/2020) | 9.00% (Libor + 8.00%/M) | 9/15/2015 | 2.0 | 2.0 | (2)(19) | ||||||||||||||
First lien senior secured loan ($3.0 par due 6/2021) | 9.00% (Libor + 8.00%/M) | 9/15/2015 | 3.0 | 3.0 | (2)(19) | ||||||||||||||
Warrant to purchase up to 28,428 shares of Series C preferred stock (expires 9/2025) | 9/15/2015 | 0.2 | 0.3 | (2) | |||||||||||||||
Warrant to purchase up to 34,113 units of Series C preferred stock (expires 12/2023) | 12/26/2013 | — | 0.3 | (2) | |||||||||||||||
13.9 | 14.6 | ||||||||||||||||||
PhyMED Management LLC | Provider of anesthesia services | Second lien senior secured loan ($47.2 par due 5/2021) | 9.75% (Libor + 8.75%/Q) | 12/18/2015 | 46.6 | 45.8 | (2)(19) | ||||||||||||
Respicardia, Inc. | Developer of implantable therapies to improve cardiovascular health | Warrant to purchase up to 99,094 shares of Series C preferred stock (expires 6/2022) | 6/28/2012 | — | — | (2) | |||||||||||||
Sarnova HC, LLC, Tri-Anim Health Services, Inc., and BEMS Holdings, LLC | Distributor of emergency medical service and respiratory products | Second lien senior secured loan ($54.0 par due 7/2022) | 10.50% (Libor + 9.50%/Q) | 1/29/2016 | 54.0 | 54.0 | (2)(19) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
PetVet Care Centers, LLC | Veterinary hospital operator | First lien senior secured loan ($26.0 par due 2/2025) | 5.25% (Libor + 4.25%/M) | 10/31/2019 | 25.6 | 26.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||
PhyMED Management LLC | Provider of anesthesia services | Second lien senior secured loan ($50.0 par due 9/2022) | 12.00% (Libor + 2.50% Cash, 8.50% PIK/Q) | 12/18/2015 | 49.9 | 46.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Premise Health Holding Corp. and OMERS Bluejay Investment Holdings LP (15) | Provider of employer-sponsored onsite health and wellness clinics and pharmacies | First lien senior secured revolving loan ($12.0 par due 7/2023) | 3.47% (Libor + 3.25%/Q) | 7/10/2018 | 12.0 | 11.9 | (2)(14) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($10.7 par due 7/2025) | 3.75% (Libor + 3.50%/Q) | 7/10/2018 | 10.7 | 10.6 | (2) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($67.1 par due 7/2026) | 7.75% (Libor + 7.50%/Q) | 7/10/2018 | 66.6 | 67.1 | (2) | |||||||||||||||||||||||||||||||||||||||
Class A units (9,775 units) | 7/10/2018 | 9.8 | 14.4 | (2) | ||||||||||||||||||||||||||||||||||||||||
99.1 | 104.0 | |||||||||||||||||||||||||||||||||||||||||||
Project Ruby Ultimate Parent Corp. | Provider of care coordination and transition management software solutions | First lien senior secured loan ($1.6 par due 2/2024) | 5.25% (Libor + 4.25%/Q) | 12/31/2020 | 1.6 | 1.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($1.4 par due 2/2025) | 9.25% (Libor + 8.25%/Q) | 12/31/2020 | 1.4 | 1.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
3.0 | 3.0 | |||||||||||||||||||||||||||||||||||||||||||
Respicardia, Inc. | Developer of implantable therapies to improve cardiovascular health | Warrant to purchase up to 99,094 shares of Series C preferred stock (expires 6/2022) | 6/28/2012 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||
RTI Surgical, Inc. and Pioneer Surgical Technology, Inc. (15) | Manufacturer of biologic, metal and synthetic implants/devices | First lien senior secured loan ($38.1 par due 7/2026) | 8.25% (Libor + 6.75%/Q) | 7/20/2020 | 38.1 | 37.4 | (11) | |||||||||||||||||||||||||||||||||||||
SCSG EA Acquisition Company, Inc. (15) | Provider of outsourced clinical services to hospitals and health systems | First lien senior secured revolving loan | 9/1/2017 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
SiroMed Physician Services, Inc. and SiroMed Equity Holdings, LLC (15) | Outsourced anesthesia provider | First lien senior secured loan ($13.2 par due 3/2024) | 5.75% (Libor + 4.75%/Q) | 3/26/2018 | 13.2 | 10.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Common units (684,854 units) | 3/26/2018 | 4.8 | — | (2) | ||||||||||||||||||||||||||||||||||||||||
18.0 | 10.4 | |||||||||||||||||||||||||||||||||||||||||||
SM Wellness Holdings, Inc. and SM Holdco, Inc. (15) | Breast cancer screening provider | First lien senior secured loan ($7.0 par due 8/2024) | 7.00% (Libor + 6.25%/Q) | 8/1/2018 | 7.0 | 6.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($2.0 par due 8/2024) | 7.00% (Libor + 6.25%/Q) | 9/25/2019 | 2.0 | 2.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Series A preferred stock (44,975 shares) | 10.48% PIK (Libor + 10.25%/Q) | 8/1/2018 | 60.2 | 60.2 | (2) | |||||||||||||||||||||||||||||||||||||||
Series A units (8,041 units) | 8/1/2018 | 8.0 | — | (2) | ||||||||||||||||||||||||||||||||||||||||
Series B units (804,142 units) | 8/1/2018 | — | 4.4 | (2) | ||||||||||||||||||||||||||||||||||||||||
77.2 | 73.5 | |||||||||||||||||||||||||||||||||||||||||||
Symplr Software Inc. and Symplr Software Intermediate Holdings, Inc. (15) | SaaS based healthcare compliance platform provider | Second lien senior secured loan ($53.5 par due 12/2028) | 8.50% (Libor + 7.75%/Q) | 12/22/2020 | 53.5 | 52.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Series C preferred shares (75,939 shares) | 11.00% PIK | 12/22/2020 | 76.1 | 76.1 | (2) | |||||||||||||||||||||||||||||||||||||||
129.6 | 128.5 | |||||||||||||||||||||||||||||||||||||||||||
Synergy HomeCare Franchising, LLC and NP/Synergy Holdings, LLC (15) | Franchisor of private-pay home care for the elderly | First lien senior secured revolving loan | 4/2/2018 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($15.7 par due 4/2024) | 6.75% (Libor + 5.75%/Q) | 4/2/2018 | 15.7 | 15.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Common units (550 units) | 4/2/2018 | 0.6 | 0.8 | |||||||||||||||||||||||||||||||||||||||||
16.3 | 16.5 | |||||||||||||||||||||||||||||||||||||||||||
Teligent, Inc. | Pharmaceutical company that develops, manufactures and markets injectable pharmaceutical products | Second lien senior secured loan ($59.3 par due 6/2024) | 12/13/2018 | 52.3 | 28.5 | (2)(10) | ||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($34.3 par due 6/2024) | 12/13/2018 | 30.4 | 16.5 | (2)(10) | ||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 490,492 shares of common stock (expires 4/2025) | 4/6/2020 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 122,548 shares of common stock (expires 7/2025) | 7/20/2020 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||||
82.7 | 45.0 |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||
Transaction Data Systems, Inc. | Pharmacy management software provider | Second lien senior secured loan ($7.8 par due 6/2022) | 10.00% (Libor + 9.00%/Q) | 6/15/2015 | 7.8 | 7.8 | (2)(19) | ||||||||||||
Second lien senior secured loan ($27.5 par due 6/2022) | 10.00% (Libor + 9.00%/Q) | 6/15/2015 | 27.5 | 27.5 | (2)(19) | ||||||||||||||
35.3 | 35.3 | ||||||||||||||||||
U.S. Anesthesia Partners, Inc. | Anesthesiology service provider | Second lien senior secured loan ($23.5 par due 9/2020) | 10.25% (Libor + 9.25%/Q) | 12/14/2015 | 23.5 | 23.5 | (2)(19) | ||||||||||||
Second lien senior secured loan ($50.0 par due 9/2020) | 10.25% (Libor + 9.25%/Q) | 9/24/2014 | 50.0 | 50.0 | (2)(19) | ||||||||||||||
73.5 | 73.5 | ||||||||||||||||||
Urgent Cares of America Holdings I, LLC and FastMed Holdings I, LLC (24) | Operator of urgent care clinics | First lien senior secured loan ($13.9 par due 12/2022) | 7.00% (Libor + 6.00%/Q) | 12/1/2015 | 13.9 | 12.6 | (2)(19) | ||||||||||||
First lien senior secured loan ($54.2 par due 12/2022) | 7.00% (Libor + 6.00%/Q) | 12/1/2015 | 54.2 | 49.3 | (2)(19) | ||||||||||||||
Preferred units (7,696,613 units) | 6/11/2015 | 7.7 | 9.4 | ||||||||||||||||
Series A common units (2,000,000 units) | 6/11/2015 | 2.0 | 0.1 | ||||||||||||||||
Series C common units (1,026,866 units) | 6/11/2015 | — | — | ||||||||||||||||
77.8 | 71.4 | ||||||||||||||||||
Vertice Pharma UK Parent Limited | Manufacturer and distributor of generic pharmaceutical products | Preferred shares (40,662 shares) | 12/21/2015 | 0.4 | 0.4 | (9) | |||||||||||||
Young Innovations, Inc. | Dental supplies and equipment manufacturer | Second lien senior secured loan ($31.4 par due 7/2019) | 10.25% (Libor + 9.25%/Q) | 10/18/2016 | 31.4 | 31.4 | (2)(19) | ||||||||||||
Second lien senior secured loan ($55.0 par due 7/2019) | 10.25% (Libor + 9.25%/Q) | 5/30/2014 | 55.0 | 55.0 | (2)(19) | ||||||||||||||
86.4 | 86.4 | ||||||||||||||||||
1,312.3 | 1,263.7 | 24.47% | |||||||||||||||||
Business Services | |||||||||||||||||||
Accruent, LLC and Athena Parent, Inc. (24) | Real estate and facilities management software provider | First lien senior secured revolving loan ($0.3 par due 5/2022) | 8.00% (Base Rate + 4.25%/Q) | 5/16/2016 | 0.3 | 0.3 | (2)(19) | ||||||||||||
Second lien senior secured loan ($10.5 par due 11/2022) | 12.50% (Base Rate + 8.75%/Q) | 9/19/2016 | 10.5 | 10.5 | (2)(19) | ||||||||||||||
Second lien senior secured loan ($42.5 par due 11/2022) | 10.75% (Libor + 9.75%/Q) | 9/19/2016 | 42.5 | 42.5 | (2)(19) | ||||||||||||||
Series A preferred stock (778 shares) | 9/19/2016 | 0.8 | 0.8 | (2) | |||||||||||||||
Common stock (3,000 shares) | 5/16/2016 | 3.0 | 3.1 | (2) | |||||||||||||||
57.1 | 57.2 | ||||||||||||||||||
Acrisure, LLC, Acrisure Investors FO, LLC and Acrisure Investors SO, LLC (24) | Retail insurance advisor and brokerage | Second lien senior secured loan ($88.6 par due 11/2024) | 10.25% (Libor + 9.25%/Q) | 11/22/2016 | 88.6 | 88.6 | (2)(19) | ||||||||||||
Membership interests (8,502,697 units) | 11/18/2016 | 8.5 | 8.5 | (2) | |||||||||||||||
Membership interests (2,125,674 units) | 11/18/2016 | 2.1 | 2.1 | (2) | |||||||||||||||
99.2 | 99.2 | ||||||||||||||||||
Brandtone Holdings Limited (9) | Mobile communications and marketing services provider | First lien senior secured loan ($4.7 par due 11/2018) | 5/11/2015 | 4.5 | — | (2)(18) | |||||||||||||
First lien senior secured loan ($3.1 par due 2/2019) | 5/11/2015 | 3.0 | — | (2)(18) | |||||||||||||||
Warrant to purchase up to 184,003 units of Series Three participating convertible preferred shares (expires 8/2026) | 5/11/2015 | — | — | (2) | |||||||||||||||
7.5 | — | ||||||||||||||||||
CallMiner, Inc. | Provider of cloud-based conversational analytics solutions | Second lien senior secured loan ($2.1 par due 5/2018) | 10.50% (Libor + 9.50%/M) | 7/23/2014 | 2.1 | 2.1 | (2)(19) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
Touchstone Acquisition, Inc. and Touchstone Holding, L.P. | Manufacturer of consumable products in the dental, medical, cosmetic and consumer/industrial end-markets | First lien senior secured loan ($25.2 par due 11/2025) | 4.90% (Libor + 4.75%/M) | 11/15/2018 | 25.2 | 24.7 | (2) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($11.2 par due 11/2025) | 4.90% (Libor + 4.75%/M) | 11/15/2018 | 11.2 | 10.9 | ||||||||||||||||||||||||||||||||||||||||
Class A preferred units (2,149 units) | 8.00% PIK | 11/15/2018 | 2.5 | 2.5 | (2) | |||||||||||||||||||||||||||||||||||||||
38.9 | 38.1 | |||||||||||||||||||||||||||||||||||||||||||
U.S. Anesthesia Partners, Inc. | Anesthesiology service provider | Second lien senior secured loan ($71.8 par due 6/2025) | 8.25% (Libor + 7.25%/Q) | 6/16/2017 | 71.2 | 70.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||
United Digestive MSO Parent, LLC (15) | Gastroenterology physician group | First lien senior secured loan ($1.1 par due 12/2024) | 5.00% (Libor + 4.00%/Q) | 12/14/2018 | 1.1 | 1.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($2.4 par due 12/2024) | 5.00% (Libor + 4.00%/Q) | 12/14/2018 | 2.4 | 2.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
3.5 | 3.5 | |||||||||||||||||||||||||||||||||||||||||||
Urgent Cares of America Holdings I, LLC and FastMed Holdings I, LLC | Operator of urgent care clinics | Preferred units (7,696,613 units) | 6/11/2015 | 7.7 | — | |||||||||||||||||||||||||||||||||||||||
Series A common units (2,000,000 units) | 6/11/2015 | 2.0 | — | |||||||||||||||||||||||||||||||||||||||||
Series C common units (5,288,427 units) | 6/11/2015 | — | — | |||||||||||||||||||||||||||||||||||||||||
9.7 | — | |||||||||||||||||||||||||||||||||||||||||||
Urology Management Associates, LLC and JWC/UMA Holdings, L.P. | Urology private practice | First lien senior secured loan ($9.7 par due 8/2024) | 6.00% (Libor + 5.00%/M) | 8/31/2018 | 9.6 | 9.7 | (11) | |||||||||||||||||||||||||||||||||||||
Limited partnership interests (3.64% interest) | 8/31/2018 | 4.8 | 3.7 | (2) | ||||||||||||||||||||||||||||||||||||||||
14.4 | 13.4 | |||||||||||||||||||||||||||||||||||||||||||
WSHP FC Acquisition LLC (15) | Provider of biospecimen products for pharma research | First lien senior secured revolving loan ($3.3 par due 3/2024) | 7.25% (Libor + 6.25%/Q) | 3/30/2018 | 3.3 | 3.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($27.9 par due 3/2024) | 7.25% (Libor + 6.25%/Q) | 3/30/2018 | 27.9 | 27.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($5.9 par due 3/2024) | 7.25% (Libor + 6.25%/Q) | 3/30/2018 | 5.9 | 5.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($4.6 par due 3/2024) | 7.25% (Libor + 6.25%/Q) | 2/11/2019 | 4.6 | 4.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($8.6 par due 3/2024) | 7.25% (Libor + 6.25%/Q) | 8/30/2019 | 8.6 | 8.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($10.9 par due 3/2024) | 7.25% (Libor + 6.25%/Q) | 10/31/2019 | 10.9 | 10.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
61.2 | 61.2 | |||||||||||||||||||||||||||||||||||||||||||
2,758.5 | 2,680.5 | 37.35% | ||||||||||||||||||||||||||||||||||||||||||
Software & Services | ||||||||||||||||||||||||||||||||||||||||||||
AffiniPay Midco, LLC and AffiniPay Intermediate Holdings, LLC (15) | Payment processing solution provider | First lien senior secured revolving loan | 2/28/2020 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($64.6 par due 3/2026) | 6.25% (Libor + 5.00%/Q) | 2/28/2020 | 64.6 | 64.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Senior subordinated loan ($24.2 par due 2/2028) | 12.75% PIK | 2/28/2020 | 24.2 | 24.2 | (2) | |||||||||||||||||||||||||||||||||||||||
88.8 | 88.8 | |||||||||||||||||||||||||||||||||||||||||||
Anaqua Parent Holdings, Inc. & Astorg VII Co-Invest Anaqua (15) | Provider of intellectual property management lifecycle software | First lien senior secured loan ($5.1 par due 4/2026) | 5.50% (Euribor + 5.50%/Q) | 4/10/2019 | 4.7 | 5.1 | ||||||||||||||||||||||||||||||||||||||
Limited partnership units (4,400,000 units) | 6/13/2019 | 5.0 | 8.8 | (2)(6) | ||||||||||||||||||||||||||||||||||||||||
9.7 | 13.9 | |||||||||||||||||||||||||||||||||||||||||||
APG Intermediate Holdings Corporation and APG Holdings, LLC (4)(15) | Aircraft performance software provider | First lien senior secured loan ($12.8 par due 1/2025) | 6.75% (Libor + 5.25%/Q) | 1/3/2020 | 12.8 | 12.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.8 par due 1/2025) | 6.75% (Libor + 5.25%/Q) | 1/3/2020 | 0.8 | 0.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A membership units (9,750,000 units) | 1/3/2020 | 9.8 | 12.6 | (2) | ||||||||||||||||||||||||||||||||||||||||
23.4 | 26.2 | |||||||||||||||||||||||||||||||||||||||||||
Apptio, Inc. (15) | Provider of cloud-based technology business management solutions | First lien senior secured loan ($62.2 par due 1/2025) | 8.25% (Libor + 7.25%/Q) | 1/10/2019 | 62.2 | 62.2 | (11) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||
Second lien senior secured loan ($1.2 par due 8/2018) | 10.50% (Libor + 9.50%/M) | 7/23/2014 | 1.2 | 1.2 | (2)(19) | ||||||||||||||
Warrant to purchase up to 2,350,636 shares of Series 1 preferred stock (expires 7/2024) | 7/23/2014 | — | — | (2) | |||||||||||||||
3.3 | 3.3 | ||||||||||||||||||
CIBT Investment Holdings, LLC | Expedited travel document processing services | Class A shares (2,500 shares) | 12/15/2011 | 2.5 | 5.9 | (2) | |||||||||||||
CMW Parent LLC (fka Black Arrow, Inc.) | Multiplatform media firm | Series A units (32 units) | 9/11/2015 | — | — | (2) | |||||||||||||
Command Alkon, Incorporated and CA Note Issuer, LLC | Software solutions provider to the ready-mix concrete industry | Second lien senior secured loan ($10.0 par due 8/2020) | 9.25% (Libor + 8.25%/Q) | 9/28/2012 | 10.0 | 10.0 | (2)(19) | ||||||||||||
Second lien senior secured loan ($11.5 par due 8/2020) | 9.44% (Libor + 8.25%/Q) | 9/28/2012 | 11.5 | 11.5 | (2)(19) | ||||||||||||||
Second lien senior secured loan ($26.5 par due 8/2020) | 9.25% (Libor + 8.25%/Q) | 9/28/2012 | 26.5 | 26.5 | (2)(19) | ||||||||||||||
Senior subordinated loan ($23.3 par due 8/2021) | 14.00% PIK | 8/8/2014 | 23.3 | 23.3 | (2) | ||||||||||||||
71.3 | 71.3 | ||||||||||||||||||
Compuware Parent, LLC | Web and mobile cloud performance testing and monitoring services provider | Class A-1 common stock (4,132 units) | 12/15/2014 | 2.3 | 2.0 | (2) | |||||||||||||
Class B-1 common stock (4,132 units) | 12/15/2014 | 0.5 | 0.4 | (2) | |||||||||||||||
Class C-1 common stock (4,132 units) | 12/15/2014 | 0.3 | 0.3 | (2) | |||||||||||||||
Class A-2 common stock (4,132 units) | 12/15/2014 | — | — | (2) | |||||||||||||||
Class B-2 common stock (4,132 units) | 12/15/2014 | — | — | (2) | |||||||||||||||
Class C-2 common stock (4,132 units) | 12/15/2014 | — | — | (2) | |||||||||||||||
3.1 | 2.7 | ||||||||||||||||||
Directworks, Inc. and Co-Exprise Holdings, Inc. | Provider of cloud-based software solutions for direct materials sourcing and supplier management for manufacturers | First lien senior secured loan ($1.9 par due 4/2018) | 10.25% (Libor + 9.25%/M) | 12/19/2014 | 1.9 | 1.7 | (2)(19) | ||||||||||||
Warrant to purchase up to 1,875,000 shares of Series 1 preferred stock (expires 12/2024) | 12/19/2014 | — | — | (2) | |||||||||||||||
1.9 | 1.7 | ||||||||||||||||||
DTI Holdco, Inc. and OPE DTI Holdings, Inc. (24) | Provider of legal process outsourcing and managed services | First lien senior secured loan ($4.2 par due 9/2023) | 6.25% (Libor + 5.25%/Q) | 9/23/2016 | 4.1 | 4.1 | (2)(19) | ||||||||||||
Class A common stock (7,500 shares) | 8/19/2014 | 7.5 | 3.8 | (2) | |||||||||||||||
Class B common stock (7,500 shares) | 8/19/2014 | — | 3.8 | (2) | |||||||||||||||
11.6 | 11.7 | ||||||||||||||||||
Faction Holdings, Inc. and The Faction Group LLC (fka PeakColo Holdings, Inc.) (24) | Wholesaler of cloud-based software applications and services | First lien senior secured revolving loan ($2.0 par due 11/2017) | 8.00% (Base Rate + 4.25%/M) | 11/3/2014 | 2.0 | 2.0 | (2)(19) | ||||||||||||
First lien senior secured loan ($3.0 par due 12/2019) | 9.75% (Libor + 8.75%/M) | 12/3/2015 | 3.0 | 3.0 | (2)(19) | ||||||||||||||
First lien senior secured loan ($3.2 par due 5/2019) | 9.75% (Libor + 8.75%/M) | 11/3/2014 | 3.2 | 3.2 | (2)(19) | ||||||||||||||
Warrant to purchase up to 1,481 shares of Series A preferred stock (expires 12/2025) | 12/3/2015 | — | — | (2) | |||||||||||||||
Warrant to purchase up to 2,037 shares of Series A preferred stock (expires 11/2024) | 11/3/2014 | 0.1 | 0.1 | (2) | |||||||||||||||
8.3 | 8.3 |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
Banyan Software Holdings, LLC (15) | Vertical software businesses holding company | First lien senior secured loan ($18.6 par due 10/2026) | 8.50% (Libor + 7.50%/Q) | 10/30/2020 | 18.6 | 18.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Blue Campaigns Intermediate Holding Corp. and Elevate Parent, Inc. (dba EveryAction) (15) | Provider of fundraising and organizing efforts and digital services to non-profits and political campaigns | First lien senior secured revolving loan | 8/20/2018 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($47.2 par due 8/2023) | 8.50% (Libor + 6.75%/Q) | 8/20/2018 | 47.2 | 47.2 | (11) | |||||||||||||||||||||||||||||||||||||||
Series A preferred stock (150,000 shares) | 9/26/2018 | 1.5 | 2.0 | (2) | ||||||||||||||||||||||||||||||||||||||||
48.7 | 49.2 | |||||||||||||||||||||||||||||||||||||||||||
CallMiner, Inc. | Provider of cloud-based conversational analytics solutions | Warrant to purchase up to 2,350,636 shares of Series 1 preferred stock (expires 7/2024) | 7/23/2014 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||
Cardinal Parent, Inc. and Packers Software Intermediate Holdings, Inc. (15) | Provider of software and technology-enabled content and analytical solutions to insurance brokers | Second lien senior secured loan ($48.1 par due 11/2028) | 8.50% (Libor + 7.75%/Q) | 11/12/2020 | 48.1 | 47.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Series A-2 preferred shares (8,963 shares) | 11.25% PIK (Libor + 11.00%/Q) | 12/23/2020 | 9.0 | 9.0 | (2) | |||||||||||||||||||||||||||||||||||||||
Series A preferred shares (24,898 shares) | 11.21% PIK (Libor + 11.00%/Q) | 11/12/2020 | 25.3 | 25.3 | (2) | |||||||||||||||||||||||||||||||||||||||
82.4 | 81.5 | |||||||||||||||||||||||||||||||||||||||||||
Clearwater Analytics, LLC (15) | Provider of integrated cloud-based investment portfolio management, accounting, reporting and analytics software | First lien senior secured loan ($45.9 par due 10/2025) | 7.25% (Libor + 6.25%/Q) | 10/19/2020 | 45.9 | 45.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Cority Software Inc., IQS, Inc. and Project Falcon Parent, Inc. (15) | Provider of environmental, health and safety software to track compliance data | First lien senior secured loan ($6.4 par due 7/2026) | 6.25% (Libor + 5.25%/Q) | 7/2/2019 | 6.4 | 6.4 | (2)(6)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($4.5 par due 7/2026) | 6.25% (Libor + 5.25%/Q) | 10/15/2019 | 4.5 | 4.5 | (2)(6)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.1 par due 7/2026) | 8.25% (Libor + 7.25%/Q) | 9/3/2020 | 1.1 | 1.1 | (2)(6)(11) | |||||||||||||||||||||||||||||||||||||||
Preferred equity (198 shares) | 9.00% PIK | 7/2/2019 | 0.2 | 0.2 | (2)(6) | |||||||||||||||||||||||||||||||||||||||
Common equity (190,143 shares) | 7/2/2019 | — | 0.2 | (2)(6) | ||||||||||||||||||||||||||||||||||||||||
12.2 | 12.4 | |||||||||||||||||||||||||||||||||||||||||||
Datix Bidco Limited | Global healthcare software company that provides software solutions for patient safety and risk management | First lien senior secured loan ($0.1 par due 4/2025) | 4.74% (Libor + 4.50%/Q) | 10/7/2019 | — | — | (2)(6) | |||||||||||||||||||||||||||||||||||||
Diligent Corporation (15) | Provider of secure SaaS solutions for board and leadership team documents | First lien senior secured revolving loan | 8/4/2020 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($33.4 par due 8/2025) | 7.25% (Libor + 6.25%/Q) | 8/4/2020 | 32.6 | 33.0 | (11) | |||||||||||||||||||||||||||||||||||||||
32.6 | 33.0 | |||||||||||||||||||||||||||||||||||||||||||
Drilling Info Holdings, Inc. and Titan DI Preferred Holdings, Inc. | SaaS based business analytics company focused on oil and gas industry | Second lien senior secured loan ($25.0 par due 7/2026) | 8.40% (Libor + 8.25%/M) | 2/11/2020 | 25.0 | 24.3 | (2) | |||||||||||||||||||||||||||||||||||||
Preferred stock (29.53 shares) | 13.50% PIK | 2/11/2020 | 32.3 | 33.3 | (2) | |||||||||||||||||||||||||||||||||||||||
57.3 | 57.6 | |||||||||||||||||||||||||||||||||||||||||||
Elemica Parent, Inc. & EZ Elemica Holdings, Inc. (15) | SaaS based supply chain management software provider focused on chemical markets | First lien senior secured revolving loan ($3.4 par due 9/2025) | 7.00% (Libor + 6.00%/Q) | 9/18/2019 | 3.4 | 3.3 | (2) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($51.0 par due 9/2025) | 7.00% (Libor + 6.00%/Q) | 9/18/2019 | 51.0 | 49.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($11.5 par due 9/2025) | 7.00% (Libor + 6.00%/Q) | 9/18/2019 | 11.5 | 11.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($5.8 par due 9/2025) | 7.00% (Libor + 6.00%/Q) | 12/15/2020 | 5.8 | 5.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Preferred equity (4,599 shares) | 9/18/2019 | 4.6 | 5.1 | |||||||||||||||||||||||||||||||||||||||||
76.3 | 74.7 | |||||||||||||||||||||||||||||||||||||||||||
EP Purchaser, LLC., Entertainment Partners Canada ULC and TPG VIII EP Co-Invest II, L.P. (15) | Provider of entertainment workforce and production management solutions | First lien senior secured loan ($29.2 par due 5/2026) | 6.50% (Libor + 6.25%/Q) | 5/10/2019 | 29.2 | 27.4 | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($20.5 par due 5/2026) | 6.50% (Libor + 6.25%/Q) | 5/10/2019 | 20.5 | 19.3 | (2)(9) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||
First Insight, Inc. | Software company providing merchandising and pricing solutions to companies worldwide | Warrant to purchase up to 122,827 units of Series C preferred stock (expires 3/2024) | 3/20/2014 | — | — | (2) | |||||||||||||
iControl Networks, Inc. and uControl Acquisition, LLC | Software and services company for the connected home market | Second lien senior secured loan ($20.0 par due 3/2019) | 9.74% (Libor + 8.50%/M) | 2/19/2015 | 19.8 | 20.2 | (2)(17)(19) | ||||||||||||
Warrant to purchase up to 385,616 shares of Series D preferred stock (expires 2/2022) | 2/19/2015 | — | — | (2) | |||||||||||||||
19.8 | 20.2 | ||||||||||||||||||
IfByPhone Inc. | Voice-based marketing automation software provider | Warrant to purchase up to 124,300 shares of Series C preferred stock (expires 10/2022) | 10/15/2012 | 0.1 | 0.1 | (2) | |||||||||||||
Interactions Corporation | Developer of a speech recognition software based customer interaction system | Second lien senior secured loan ($2.3 par due 7/2019) | 9.85% (Libor + 8.85%/M) | 6/16/2015 | 2.1 | 2.3 | (19) | ||||||||||||
Second lien senior secured loan ($21.1 par due 7/2019) | 9.85% (Libor + 8.85%/M) | 6/16/2015 | 20.9 | 21.1 | (5)(19) | ||||||||||||||
Warrant to purchase up to 68,187 shares of Series G-3 convertible preferred stock (expires 6/2022) | 6/16/2015 | 0.3 | 0.3 | (2) | |||||||||||||||
23.3 | 23.7 | ||||||||||||||||||
iPipeline, Inc., Internet Pipeline, Inc. and iPipeline Holdings, Inc. (24) | Provider of SaaS-based software solutions to the insurance and financial services industry | First lien senior secured loan ($46.9 par due 8/2022) | 8.25% (Libor + 7.25%/Q) | 8/4/2015 | 46.9 | 46.9 | (3)(19) | ||||||||||||
First lien senior secured loan ($14.8 par due 8/2022) | 8.25% (Libor + 7.25%/Q) | 8/4/2015 | 14.8 | 14.8 | (4)(19) | ||||||||||||||
Preferred stock (1,485 shares) | 8/4/2015 | 1.5 | 2.7 | (2) | |||||||||||||||
Common stock (647,542 shares) | 8/4/2015 | — | 0.1 | (2) | |||||||||||||||
63.2 | 64.5 | ||||||||||||||||||
IronPlanet, Inc. | Online auction platform provider for used heavy equipment | Warrant to purchase up to 133,333 shares of Series C preferred stock (expires 9/2023) | 9/24/2013 | 0.2 | 0.1 | (2) | |||||||||||||
Itel Laboratories, Inc. (24) | Data services provider for building materials to property insurance industry | Preferred units (1,798,391 units) | 6/29/2012 | 1.0 | 1.3 | (2) | |||||||||||||
Market Track Holdings, LLC | Business media consulting services company | Preferred stock (1,685 shares) | 12/13/2013 | 2.2 | 2.8 | ||||||||||||||
Common stock (16,251 shares) | 12/13/2013 | 2.2 | 2.8 | ||||||||||||||||
4.4 | 5.6 | ||||||||||||||||||
Maximus Holdings, LLC | Provider of software simulation tools and related services | Warrant to purchase up to 1,050,013 shares of common stock (expires 10/2019) | 12/13/2013 | — | 1.5 | ||||||||||||||
Ministry Brands, LLC and MB Parent HoldCo, L.P. (24) | Software and payment services provider to faith-based institutions | First lien senior secured revolving loan ($3.8 par due 12/2022) | 6.00% (Libor + 5.00%/Q) | 12/2/2016 | 3.8 | 3.8 | (2)(19) | ||||||||||||
First lien senior secured loan ($7.6 par due 12/2022) | 6.00% (Libor + 5.00%/Q) | 12/2/2016 | 7.5 | 7.6 | (2)(19) | ||||||||||||||
Second lien senior secured loan ($90.0 par due 6/2023) | 10.25% (Libor + 9.25%/Q) | 12/2/2016 | 89.2 | 90.0 | (2)(19) | ||||||||||||||
Class A units (500,000 units) | 12/2/2016 | 5.0 | 5.0 | (2) | |||||||||||||||
105.5 | 106.4 | ||||||||||||||||||
MVL Group, Inc. (8) | Marketing research provider | Senior subordinated loan ($0.5 par due 7/2012) | 4/1/2010 | 0.2 | 0.2 | (2)(18) | |||||||||||||
Common stock (560,716 shares) | 4/1/2010 | — | — | (2) | |||||||||||||||
0.2 | 0.2 | ||||||||||||||||||
NAS, LLC, Nationwide Marketing Group, LLC and Nationwide Administrative Services, Inc. | Buying and marketing services organization for appliance, furniture and consumer electronics dealers | Second lien senior secured loan ($24.1 par due 12/2021) | 9.75% (Libor + 8.75%/Q) | 6/1/2015 | 24.1 | 22.4 | (2)(19) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($10.7 par due 5/2026) | 6.50% (Libor + 6.25%/Q) | 5/10/2019 | 10.7 | 10.0 | (2)(6) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($4.1 par due 5/2026) | 6.50% (Libor + 6.25%/Q) | 5/10/2019 | 4.1 | 3.8 | (2)(6)(9) | |||||||||||||||||||||||||||||||||||||||
Partnership units (5,034,483 units) | 5/10/2019 | 5.0 | 5.8 | (2) | ||||||||||||||||||||||||||||||||||||||||
69.5 | 66.3 | |||||||||||||||||||||||||||||||||||||||||||
Episerver Inc. and Goldcup 17308 AB (15) | Provider of web content management and digital commerce solutions | First lien senior secured loan ($6.5 par due 10/2024) | 6.00% (Euribor + 6.00%/Q) | 3/22/2019 | 6.0 | 6.3 | (2)(6) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($27.2 par due 10/2024) | 6.75% (Libor + 5.75%/Q) | 10/9/2018 | 27.2 | 26.6 | (2)(6)(11) | |||||||||||||||||||||||||||||||||||||||
33.2 | 32.9 | |||||||||||||||||||||||||||||||||||||||||||
eResearch Technology, Inc. and Astorg VII Co-Invest ERT (15) | Provider of mission-critical, software-enabled clinical research solutions | Second lien senior secured loan ($19.9 par due 2/2028) | 8.50% (Libor + 8.00%/M) | 2/4/2020 | 19.5 | 19.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Limited partnership interest (3,300,000 shares) | 1/31/2020 | 3.7 | 4.0 | (2)(6) | ||||||||||||||||||||||||||||||||||||||||
23.2 | 23.8 | |||||||||||||||||||||||||||||||||||||||||||
First Insight, Inc. | Software company providing merchandising and pricing solutions to companies worldwide | Warrant to purchase up to 122,827 units of Series C preferred stock (expires 3/2024) | 3/20/2014 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||
FM: Systems Group LLC (15) | Provider of facilities and space management software solutions | First lien senior secured revolving loan ($1.5 par due 12/2024) | 7.50% (Libor + 6.50%/Q) | 2/8/2018 | 1.5 | 1.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($3.2 par due 12/2024) | 7.50% (Libor + 6.50%/Q) | 12/2/2019 | 3.2 | 3.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
4.7 | 4.7 | |||||||||||||||||||||||||||||||||||||||||||
Forescout Technologies, Inc. (15) | Network access control solutions provider | First lien senior secured loan ($17.0 par due 8/2026) | 10.50% PIK (Libor + 9.50%/Q) | 8/17/2020 | 16.6 | 16.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Frontline Technologies Group Holding LLC, Frontline Technologies Blocker Buyer, Inc., Frontline Technologies Holdings, LLC and Frontline Technologies Parent, LLC | Provider of human capital management and SaaS-based software solutions to employees and administrators of K-12 school organizations | First lien senior secured loan ($17.4 par due 9/2023) | 6.75% (Libor + 5.75%/M) | 12/30/2020 | 17.4 | 17.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Class A preferred units (4,574 units) | 9.00% PIK | 9/18/2017 | 5.6 | 6.2 | ||||||||||||||||||||||||||||||||||||||||
Class B common units (499,050 units) | 9/18/2017 | — | 4.6 | |||||||||||||||||||||||||||||||||||||||||
23.0 | 28.2 | |||||||||||||||||||||||||||||||||||||||||||
Genesis Acquisition Co. and Genesis Holding Co. (15) | Child care management software and services provider | First lien senior secured revolving loan ($1.5 par due 7/2024) | 4.25% (Libor + 4.00%/Q) | 7/31/2018 | 1.5 | 1.4 | (2) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.2 par due 7/2024) | 4.25% (Libor + 4.00%/Q) | 7/31/2018 | 0.2 | 0.1 | (2) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($25.8 par due 7/2025) | 7.73% (Libor + 7.50%/Q) | 7/31/2018 | 25.8 | 23.7 | (2) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($6.6 par due 7/2025) | 7.73% (Libor + 7.50%/Q) | 7/31/2018 | 6.6 | 6.0 | (2) | |||||||||||||||||||||||||||||||||||||||
Class A common stock (8 shares) | 7/31/2018 | 0.8 | 0.6 | (2) | ||||||||||||||||||||||||||||||||||||||||
34.9 | 31.8 | |||||||||||||||||||||||||||||||||||||||||||
Graphpad Software, LLC (15) | Provider of data analysis, statistics, and visualization software solutions for scientific research applications | First lien senior secured loan ($0.5 par due 12/2023) | 7.00% (Libor + 6.00%/Q) | 11/2/2020 | 0.5 | 0.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||
GTCR-Ultra Holdings III, LLC and GTCR-Ultra Holdings LLC (15) | Provider of payment processing and merchant acquiring solutions | Class B units (2,878,372 units) | 8/1/2017 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||
Help/Systems Holdings, Inc. (15) | Provider of IT operations management and cybersecurity software | First lien senior secured loan ($26.0 par due 11/2026) | 5.75% (Libor + 4.75%/Q) | 11/22/2019 | 26.0 | 26.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||
IfByPhone Inc. | Voice-based marketing automation software provider | Warrant to purchase up to 124,300 shares of Series C preferred stock (expires 10/2022) | 10/15/2012 | 0.1 | — | (2) | ||||||||||||||||||||||||||||||||||||||
Infogix, Inc. and Infogix Parent Corporation (15) | Enterprise data analytics and integrity software solutions provider | First lien senior secured revolving loan ($5.3 par due 4/2024) | 7.00% (Libor + 6.00%/Q) | 4/18/2018 | 5.3 | 5.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Series A preferred stock (2,475 shares) | 1/3/2017 | 2.6 | 3.9 |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||
PayNearMe, Inc. | Electronic cash payment system provider | First lien senior secured loan ($10.0 par due 9/2019) | 9.50% (Libor + 8.50%/M) | 3/11/2016 | 9.6 | 10.0 | (5)(19) | ||||||||||||
Warrant to purchase up to 195,726 shares of Series E preferred stock (expires 3/2023) | 3/11/2016 | 0.2 | — | (5) | |||||||||||||||
9.8 | 10.0 | ||||||||||||||||||
Pegasus Intermediate Holdings, LLC (24) | Plant maintenance and scheduling process software provider | First lien senior secured loan ($1.3 par due 11/2022) | 7.25% (Libor + 6.25%/Q) | 11/7/2016 | 1.3 | 1.3 | (2)(19) | ||||||||||||
PHL Investors, Inc., and PHL Holding Co. (8) | Mortgage services | Class A common stock (576 shares) | 7/31/2012 | 3.8 | — | (2) | |||||||||||||
Planview, Inc. | Provider of project and portfolio management software | Second lien senior secured loan ($30.0 par due 8/2022) | 10.50% (Libor + 9.50%/Q) | 8/9/2016 | 30.0 | 30.5 | (2)(19) | ||||||||||||
Poplicus Incorporated | Business intelligence and market analytics platform for companies that sell to the public sector | First lien senior secured loan ($5.3 par due 1/2018) | 6/25/2015 | 4.7 | 2.6 | (5)(18) | |||||||||||||
Warrant to purchase up to 2,402,991 shares of Series C preferred stock (expires 6/2025) | 6/25/2015 | 0.1 | — | (5) | |||||||||||||||
4.8 | 2.6 | ||||||||||||||||||
PowerPlan, Inc. and Project Torque Ultimate Parent Corporation | Fixed asset financial management software provider | Second lien senior secured loan ($30.0 par due 2/2023) | 10.00% (Libor + 9.00%/Q) | 2/23/2015 | 29.8 | 30.0 | (2)(19) | ||||||||||||
Second lien senior secured loan ($50.0 par due 2/2023) | 10.00% (Libor + 9.00%/Q) | 2/23/2015 | 49.6 | 50.0 | (3)(19) | ||||||||||||||
Class A common stock (1,980 shares) | 2/23/2015 | 2.0 | — | (2) | |||||||||||||||
Class B common stock (989,011 shares) | 2/23/2015 | — | 3.8 | (2) | |||||||||||||||
81.4 | 83.8 | ||||||||||||||||||
Powersport Auctioneer Holdings, LLC | Powersport vehicle auction operator | Common units (1,972 units) | 3/2/2012 | 1.0 | 1.5 | (2) | |||||||||||||
Project Alpha Intermediate Holding, Inc. and Qlik Parent, Inc. | Provider of data visualization software for data analytics | First lien senior secured loan ($50.4 par due 8/2022) | 9.25% (Libor + 8.25%/Q) | 8/22/2016 | 49.7 | 50.4 | (2)(19) | ||||||||||||
First lien senior secured loan ($59.9 par due 8/2022) | 9.25% (Libor + 8.25%/Q) | 8/22/2016 | 59.0 | 59.9 | (3)(19) | ||||||||||||||
First lien senior secured loan ($20.0 par due 8/2022) | 9.25% (Libor + 8.25%/Q) | 8/22/2016 | 19.7 | 20.0 | (4)(19) | ||||||||||||||
Class A common shares (7,445 shares) | 8/22/2016 | 7.4 | 0.1 | (2) | |||||||||||||||
Class B common shares (1,841,609 shares) | 8/22/2016 | 0.1 | 8.3 | (2) | |||||||||||||||
135.9 | 138.7 | ||||||||||||||||||
R2 Acquisition Corp. | Marketing services | Common stock (250,000 shares) | 5/29/2007 | 0.3 | 0.3 | (2) | |||||||||||||
Rocket Fuel Inc. | Provider of open and integrated software for digital marketing optimization | Common stock (11,405 shares) | 9/9/2014 | — | — | (2) | |||||||||||||
Shift PPC LLC | Digital solutions provider | First lien senior secured loan ($12.5 par due 12/2021) | 7.00% (Libor + 6.00%/Q) | 12/22/2016 | 12.5 | 12.5 | (2)(19) | ||||||||||||
Sonian Inc. | Cloud-based email archiving platform | First lien senior secured loan ($7.5 par due 6/2020) | 8.65% (Libor + 7.65%/M) | 9/9/2015 | 7.4 | 7.5 | (5)(17)(19) | ||||||||||||
Warrant to purchase up to 169,045 shares of Series C preferred stock (expires 9/2022) | 9/9/2015 | 0.1 | 0.1 | (5) | |||||||||||||||
7.5 | 7.6 | ||||||||||||||||||
Talari Networks, Inc. | Networking equipment provider | First lien senior secured loan ($6.0 par due 12/2018) | 9.75% (Libor + 8.75%/M) | 8/3/2015 | 5.9 | 6.0 | (5)(19) | ||||||||||||
Warrant to purchase up to 421,052 shares of Series D-1 preferred stock (expires 8/2022) | 8/3/2015 | 0.1 | 0.1 | (5) | |||||||||||||||
6.0 | 6.1 | ||||||||||||||||||
The Greeley Company, Inc. and HCP Acquisition Holdings, LLC (8) | Healthcare compliance advisory services | Senior subordinated loan ($10.2 par due 3/2017) | 3/5/2013 | — | 0.4 | (2)(18) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
Common stock (1,297,768 shares) | 1/3/2017 | — | — | |||||||||||||||||||||||||||||||||||||||||
7.9 | 9.2 | |||||||||||||||||||||||||||||||||||||||||||
Inmar, Inc. | Technology-driven solutions provider for retailers, wholesalers and manufacturers | First lien senior secured loan ($15.5 par due 5/2024) | 5.00% (Libor + 4.00%/Q) | 1/31/2019 | 15.0 | 15.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($28.3 par due 5/2025) | 9.00% (Libor + 8.00%/Q) | 4/25/2017 | 28.0 | 27.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
43.0 | 42.6 | |||||||||||||||||||||||||||||||||||||||||||
Huskies Parent, Inc. (15) | Insurance software provider | First lien senior secured revolving loan ($0.6 par due 7/2024) | 4.15% (Libor + 4.00%/M) | 7/18/2019 | 0.6 | 0.6 | (2) | |||||||||||||||||||||||||||||||||||||
Invoice Cloud, Inc. (15) | Provider of electronic payment processing solutions | First lien senior secured revolving loan | 2/11/2019 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($34.3 par due 2/2024) | 7.50% (Libor + 3.25% Cash, 3.25% PIK/Q) | 2/11/2019 | 34.3 | 34.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($13.9 par due 2/2024) | 7.50% (Libor + 3.25% Cash, 3.25% PIK/Q) | 2/11/2019 | 13.8 | 13.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
48.1 | 48.2 | |||||||||||||||||||||||||||||||||||||||||||
IV Rollover Holdings, LLC | Solar power generation facility developer and operator | Class B units (170,490 units) | 5/31/2017 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||
Class X units (5,000,000 units) | 5/31/2017 | 2.3 | 2.3 | (2) | ||||||||||||||||||||||||||||||||||||||||
2.3 | 2.3 | |||||||||||||||||||||||||||||||||||||||||||
Majesco and Magic Topco, L.P. (15) | Insurance software provider | First lien senior secured revolving loan | 9/21/2020 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($36.7 par due 9/2027) | 8.75% (Libor + 7.75%/Q) | 9/21/2020 | 36.7 | 36.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A units (2,199 units) | 9.00% PIK | 9/21/2020 | 2.3 | 2.3 | (2) | |||||||||||||||||||||||||||||||||||||||
Class B units (494,157 units) | 9/21/2020 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||||
39.0 | 38.7 | |||||||||||||||||||||||||||||||||||||||||||
Ministry Brands, LLC and MB Parent HoldCo, L.P. (dba Community Brands) (15) | Software and payment services provider to faith-based institutions | First lien senior secured loan ($9.3 par due 12/2022) | 5.00% (Libor + 4.00%/Q) | 4/6/2017 | 9.3 | 9.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($4.8 par due 12/2022) | 5.00% (Libor + 4.00%/Q) | 8/22/2017 | 4.8 | 4.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($90.0 par due 6/2023) | 10.25% (Libor + 9.25%/Q) | 12/2/2016 | 89.7 | 89.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($16.6 par due 6/2023) | 10.25% (Libor + 9.25%/Q) | 12/2/2016 | 16.6 | 16.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($9.2 par due 6/2023) | 10.25% (Libor + 9.25%/Q) | 4/6/2017 | 9.2 | 9.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($4.7 par due 6/2023) | 10.25% (Libor + 9.25%/Q) | 4/6/2017 | 4.7 | 4.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($17.9 par due 6/2023) | 10.25% (Libor + 9.25%/Q) | 8/22/2017 | 17.9 | 17.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($10.3 par due 6/2023) | 9.00% (Libor + 8.00%/Q) | 4/18/2018 | 10.3 | 10.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($38.6 par due 6/2023) | 9.00% (Libor + 8.00%/Q) | 4/18/2018 | 38.6 | 37.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A units (500,000 units) | 12/2/2016 | 5.0 | 4.0 | (2) | ||||||||||||||||||||||||||||||||||||||||
206.1 | 202.2 | |||||||||||||||||||||||||||||||||||||||||||
MRI Software LLC (15) | Provider of real estate and investment management software | First lien senior secured loan ($50.4 par due 2/2026) | 6.50% (Libor + 5.50%/Q) | 2/10/2020 | 50.4 | 49.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.5 par due 2/2026) | 6.50% (Libor + 5.50%/Q) | 8/28/2020 | 0.5 | 0.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
50.9 | 50.4 | |||||||||||||||||||||||||||||||||||||||||||
Novetta Solutions, LLC | Provider of advanced analytics solutions for the government, defense and commercial industries | First lien senior secured loan ($8.4 par due 10/2022) | 6.00% (Libor + 5.00%/Q) | 1/3/2017 | 8.3 | 8.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($31.0 par due 10/2023) | 9.50% (Libor + 8.50%/Q) | 1/3/2017 | 29.8 | 31.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
38.1 | 39.4 | |||||||||||||||||||||||||||||||||||||||||||
nThrive, Inc. (fka Precyse Acquisition Corp.) | Provider of healthcare information management technology and services | Second lien senior secured loan ($10.0 par due 4/2023) | 10.75% (Libor + 9.75%/M) | 4/20/2016 | 9.9 | 10.0 | (2)(11) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||
Class A units (14,293,110 units) | 6/26/2008 | 12.8 | — | (2) | |||||||||||||||
12.8 | 0.4 | ||||||||||||||||||
TraceLink, Inc. | Supply chain management software provider for the pharmaceutical industry | Warrant to purchase up to 283,353 shares of Series A-2 preferred stock (expires 1/2025) | 1/2/2015 | 0.1 | 2.5 | (2) | |||||||||||||
UL Holding Co., LLC (7) | Manufacturer and distributor of re-refined oil products | Senior subordinated loan ($5.8 par due 5/2020) | 10.00% PIK | 4/30/2012 | 1.4 | 5.4 | (2) | ||||||||||||
Senior subordinated loan ($0.3 par due 5/2020) | 4/30/2012 | 0.1 | 0.3 | (2) | |||||||||||||||
Senior subordinated loan ($23.9 par due 5/2020) | 10.00% PIK | 4/30/2012 | 5.9 | 22.4 | (2) | ||||||||||||||
Senior subordinated loan ($2.0 par due 5/2020) | 4/30/2012 | 0.5 | 1.9 | (2) | |||||||||||||||
Senior subordinated loan ($2.8 par due 5/2020) | 10.00% PIK | 4/30/2012 | 0.7 | 2.6 | (2) | ||||||||||||||
Senior subordinated loan ($0.2 par due 5/2020) | 4/30/2012 | 0.1 | 0.2 | (2) | |||||||||||||||
Class A common units (533,351 units) | 6/17/2011 | 5.0 | — | (2) | |||||||||||||||
Class B-5 common units (272,834 units) | 6/17/2011 | 2.5 | — | (2) | |||||||||||||||
Class C common units (758,546 units) | 4/25/2008 | — | — | (2) | |||||||||||||||
Warrant to purchase up to 719,044 shares of Class A units | 5/2/2014 | — | — | (2) | |||||||||||||||
Warrant to purchase up to 28,663 shares of Class B-1 units | 5/2/2014 | — | — | (2) | |||||||||||||||
Warrant to purchase up to 57,325 shares of Class B-2 units | 5/2/2014 | — | — | (2) | |||||||||||||||
Warrant to purchase up to 29,645 shares of Class B-3 units | 5/2/2014 | — | — | (2) | |||||||||||||||
Warrant to purchase up to 80,371 shares of Class B-5 units | 5/2/2014 | — | — | (2) | |||||||||||||||
Warrant to purchase up to 59,655 shares of Class B-6 units | 5/2/2014 | — | — | (2) | |||||||||||||||
Warrant to purchase up to 1,046,713 shares of Class C units | 5/2/2014 | — | — | (2) | |||||||||||||||
16.2 | 32.8 | ||||||||||||||||||
Velocity Holdings Corp. | Hosted enterprise resource planning application management services provider | Common units (1,713,546 units) | 12/13/2013 | 4.5 | 2.8 | ||||||||||||||
WorldPay Group PLC (9) | Payment processing company | C2 shares (73,974 shares) | 10/21/2015 | — | — | ||||||||||||||
Zywave, Inc. (24) | Provider of software and technology-enabled content and analytical solutions to insurance brokers | Second lien senior secured loan ($27.0 par due 11/2023) | 10.00% (Libor + 9.00%/Q) | 11/17/2016 | 27.0 | 27.0 | (2)(19) | ||||||||||||
862.5 | 867.7 | 16.80% | |||||||||||||||||
Other Services | |||||||||||||||||||
American Residential Services L.L.C. | Heating, ventilation and air conditioning services provider | Second lien senior secured loan ($67.0 par due 12/2021) | 9.00% (Libor + 8.00%/Q) | 6/30/2014 | 66.7 | 67.0 | (2)(19) | ||||||||||||
Community Education Centers, Inc. and CEC Parent Holdings LLC (8) | Offender re-entry and in-prison treatment services provider | First lien senior secured loan ($13.6 par due 12/2017) | 6.25% (Libor + 5.25%/Q) | 12/10/2010 | 13.6 | 13.6 | (2)(13)(19) | ||||||||||||
First lien senior secured loan ($0.7 par due 12/2017) | 8.00% (Base Rate + 4.25%/Q) | 12/10/2010 | 0.7 | 0.7 | (2)(13)(19) | ||||||||||||||
Second lien senior secured loan ($21.9 par due 6/2018) | 15.89% (Libor + 15.00%/Q) | 12/10/2010 | 21.9 | 21.9 | (2) | ||||||||||||||
Class A senior preferred units (7,846 units) | 3/27/2015 | 9.4 | 11.9 | (2) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
PayNearMe, Inc. | Electronic cash payment system provider | Warrant to purchase up to 195,726 shares of Series E preferred stock (expires 3/2023) | 3/11/2016 | 0.2 | — | (2) | ||||||||||||||||||||||||||||||||||||||
PaySimple, Inc. (15) | Provider of business management solutions | First lien senior secured revolving loan | 8/23/2019 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($35.4 par due 8/2025) | 5.65% (Libor + 5.50%/M) | 9/23/2020 | 35.4 | 35.1 | (2) | |||||||||||||||||||||||||||||||||||||||
35.4 | 35.1 | |||||||||||||||||||||||||||||||||||||||||||
PDI TA Holdings, Inc., Peachtree Parent, Inc. and Insight PDI Holdings, LLC (15) | Provider of enterprise management software for the convenience retail and petroleum wholesale market | First lien senior secured loan ($54.0 par due 10/2024) | 5.50% (Libor + 4.50%/Q) | 3/19/2019 | 54.0 | 54.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($8.3 par due 10/2025) | 9.50% (Libor + 8.50%/Q) | 12/17/2020 | 8.3 | 8.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($70.1 par due 10/2025) | 9.50% (Libor + 8.50%/Q) | 3/19/2019 | 70.1 | 70.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Series A preferred stock (13,656 shares) | 13.25% PIK | 3/19/2019 | 17.0 | 17.2 | (2) | |||||||||||||||||||||||||||||||||||||||
Class A units (2,062,493 units) | 3/19/2019 | 2.1 | 2.4 | (2) | ||||||||||||||||||||||||||||||||||||||||
151.5 | 152.0 | |||||||||||||||||||||||||||||||||||||||||||
Pegasus Global Enterprise Holdings, LLC, Mekone Blocker Acquisition, Inc. and Mekone Parent, LLC (15) | Provider of plant maintenance and scheduling software | First lien senior secured loan ($20.0 par due 5/2025) | 6.75% (Libor + 5.75%/Q) | 5/29/2019 | 20.0 | 20.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($5.8 par due 5/2025) | 6.75% (Libor + 5.75%/Q) | 5/29/2019 | 5.8 | 5.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($5.8 par due 5/2025) | 7.25% (Libor + 6.25%/Q) | 6/24/2020 | 5.8 | 5.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($48.7 par due 5/2025) | 7.25% (Libor + 6.25%/Q) | 10/16/2020 | 48.7 | 48.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.8 par due 5/2025) | 7.25% (Libor + 6.25%/Q) | 10/16/2020 | 1.8 | 1.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A units (5,000 units) | 5/29/2019 | 5.0 | 9.2 | |||||||||||||||||||||||||||||||||||||||||
87.1 | 91.3 | |||||||||||||||||||||||||||||||||||||||||||
Perforce Software, Inc. (15) | Developer of software used for application development | First lien senior secured revolving loan ($0.1 par due 7/2024) | 4.65% (Libor + 4.50%/M) | 7/1/2019 | 0.1 | 0.1 | (2) | |||||||||||||||||||||||||||||||||||||
PHNTM Holdings, Inc. and Planview Parent, Inc. | Provider of project and portfolio management software | Class A common stock (990 shares) | 1/27/2017 | 1.0 | 2.2 | (2) | ||||||||||||||||||||||||||||||||||||||
Class B common stock (168,329 shares) | 1/27/2017 | — | 0.4 | (2) | ||||||||||||||||||||||||||||||||||||||||
1.0 | 2.6 | |||||||||||||||||||||||||||||||||||||||||||
Poplicus Incorporated | Business intelligence and market analytics platform for companies that sell to the public sector | Warrant to purchase up to 2,402,991 shares of Series C preferred stock (expires 6/2025) | 6/25/2015 | 0.1 | — | (2) | ||||||||||||||||||||||||||||||||||||||
Project Alpha Intermediate Holding, Inc. and Qlik Parent, Inc. | Provider of data visualization software for data analytics | Class A common stock (7,445 shares) | 8/22/2016 | 7.4 | 10.8 | (2) | ||||||||||||||||||||||||||||||||||||||
Class B common stock (1,841,609 shares) | 8/22/2016 | 0.1 | 0.1 | (2) | ||||||||||||||||||||||||||||||||||||||||
7.5 | 10.9 | |||||||||||||||||||||||||||||||||||||||||||
Project Potter Buyer, LLC and Project Potter Parent, L.P. (15) | Software solutions provider to the ready-mix concrete industry | First lien senior secured revolving loan | 4/23/2020 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($44.5 par due 4/2027) | 9.25% (Libor + 8.25%/M) | 4/23/2020 | 44.5 | 44.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($13.0 par due 4/2027) | 9.25% (Libor + 8.25%/M) | 10/30/2020 | 13.0 | 13.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($14.6 par due 4/2027) | 9.25% (Libor + 8.25%/M) | 11/18/2020 | 14.6 | 14.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($5.0 par due 4/2027) | 9.25% (Libor + 8.25%/M) | 11/18/2020 | 5.0 | 5.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A units (1,599 units) | 9.00% PIK | 4/23/2020 | 1.7 | 1.7 | (2) | |||||||||||||||||||||||||||||||||||||||
Class B units (588,636 units) | 4/23/2020 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||||
78.8 | 78.8 | |||||||||||||||||||||||||||||||||||||||||||
QF Holdings, Inc. (15) | SaaS based electronic health record software provider | First lien senior secured loan ($24.4 par due 9/2024) | 8.00% (Libor + 7.00%/Q) | 9/19/2019 | 24.4 | 24.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($4.9 par due 9/2024) | 8.00% (Libor + 7.00%/Q) | 9/19/2019 | 4.9 | 4.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
29.3 | 29.3 |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||
Class A junior preferred units (26,154 units) | 3/27/2015 | 20.2 | 28.5 | (2) | |||||||||||||||
Class A common units (134 units) | 3/27/2015 | — | — | (2) | |||||||||||||||
65.8 | 76.6 | ||||||||||||||||||
Competitor Group, Inc., Calera XVI, LLC and Champion Parent Corporation (8)(24) | Endurance sports media and event operator | First lien senior secured revolving loan ($0.9 par due 11/2018) | 5.00% (Libor + 3.75%/Q) | 9/29/2016 | 0.9 | 0.9 | (2)(19) | ||||||||||||
First lien senior secured revolving loan ($4.7 par due 11/2018) | 5.00% (Libor + 3.75%/Q) | 11/30/2012 | 4.5 | 4.5 | (2)(19) | ||||||||||||||
First lien senior secured loan ($39.6 par due 11/2018) | 5.00% (Libor + 3.75%/Q) | 11/30/2012 | 38.0 | 38.6 | (2)(19) | ||||||||||||||
Preferred shares (18,875 shares) | 3/25/2016 | 16.0 | — | (2) | |||||||||||||||
Membership units (2,522,512 units) | 11/30/2012 | 2.5 | — | (2) | |||||||||||||||
Common shares (114,000 shares) | 3/25/2016 | — | — | (2) | |||||||||||||||
61.9 | 44.0 | ||||||||||||||||||
Crown Health Care Laundry Services, LLC and Crown Laundry Holdings, LLC (7)(24) | Provider of outsourced healthcare linen management solutions | First lien senior secured revolving loan | - | 3/13/2014 | — | — | (22) | ||||||||||||
First lien senior secured loan ($5.8 par due 12/2021) | 7.25% (Libor + 6.25%/Q) | 3/13/2014 | 5.8 | 5.8 | (2)(19) | ||||||||||||||
First lien senior secured loan ($5.2 par due 12/2021) | 7.25% (Libor + 6.25%/Q) | 3/13/2014 | 5.2 | 5.2 | (3)(19) | ||||||||||||||
Class A preferred units (2,475,000 units) | 3/13/2014 | 2.5 | 3.0 | (2) | |||||||||||||||
Class B common units (275,000 units) | 3/13/2014 | 0.3 | 0.3 | (2) | |||||||||||||||
13.8 | 14.3 | ||||||||||||||||||
Dwyer Acquisition Parent, Inc. and TDG Group Holding Company | Operator of multiple franchise concepts primarily related to home maintenance or repairs | Senior subordinated loan ($31.5 par due 2/2020) | 11.00% | 6/12/2015 | 31.5 | 31.5 | (2) | ||||||||||||
Senior subordinated loan ($52.7 par due 2/2020) | 11.00% | 8/15/2014 | 52.7 | 52.7 | (2) | ||||||||||||||
Common stock (32,843 shares) | 8/15/2014 | 3.4 | 5.0 | (2) | |||||||||||||||
87.6 | 89.2 | ||||||||||||||||||
Massage Envy, LLC and ME Equity LLC (24) | Franchisor in the massage industry | First lien senior secured revolving loan ($3.5 par due 9/2020) | 7.75% (Libor + 6.75%/Q) | 9/27/2012 | 3.5 | 3.5 | (2)(19) | ||||||||||||
First lien senior secured loan ($38.9 par due 9/2020) | 7.75% (Libor + 6.75%/Q) | 9/27/2012 | 38.9 | 38.9 | (3)(19) | ||||||||||||||
First lien senior secured loan ($18.9 par due 9/2020) | 7.75% (Libor + 6.75%/Q) | 9/27/2012 | 18.9 | 18.9 | (4)(19) | ||||||||||||||
Common stock (3,000,000 shares) | 9/27/2012 | 3.0 | 3.3 | (2) | |||||||||||||||
64.3 | 64.6 | ||||||||||||||||||
McKenzie Sports Products, LLC (24) | Designer, manufacturer and distributor of hunting-related supplies | First lien senior secured loan ($5.5 par due 9/2020) | 6.75% (Libor + 5.75%/Q) | 9/18/2014 | 5.5 | 5.4 | (3)(14)(19) | ||||||||||||
First lien senior secured loan ($84.5 par due 9/2020) | 6.75% (Libor + 5.75%/Q) | 9/18/2014 | 84.5 | 82.8 | (3)(14)(19) | ||||||||||||||
90.0 | 88.2 | ||||||||||||||||||
OpenSky Project, Inc. and OSP Holdings, Inc. | Social commerce platform operator | First lien senior secured loan ($0.9 par due 9/2017) | 10.00% | 6/4/2014 | 0.9 | 0.9 | (2) | ||||||||||||
Warrant to purchase up to 159,496 shares of Series D preferred stock (expires 4/2025) | 6/29/2015 | — | — | (2) | |||||||||||||||
0.9 | 0.9 | ||||||||||||||||||
Osmose Holdings, Inc. | Provider of structural integrity management services to transmission and distribution infrastructure | Second lien senior secured loan ($25.0 par due 8/2023) | 8.75% (Libor + 7.75%/Q) | 9/3/2015 | 24.6 | 24.5 | (2)(19) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
Raptor Technologies, LLC and Rocket Parent, LLC (15) | Provider of SaaS-based safety and security software to the K-12 school market | First lien senior secured revolving loan ($0.8 par due 12/2023) | 7.00% (Libor + 6.00%/M) | 12/17/2018 | 0.8 | 0.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($15.7 par due 12/2024) | 7.00% (Libor + 6.00%/Q) | 12/17/2018 | 15.7 | 15.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($5.3 par due 12/2024) | 7.00% (Libor + 6.00%/Q) | 12/17/2018 | 5.3 | 5.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A common units (2,294,000 units) | 12/17/2018 | 2.3 | 1.9 | |||||||||||||||||||||||||||||||||||||||||
24.1 | 23.1 | |||||||||||||||||||||||||||||||||||||||||||
Regent Education, Inc. | Provider of software solutions designed to optimize the financial aid and enrollment processes | Warrant to purchase up to 5,393,194 shares of common stock (expires 12/2026) | 12/23/2016 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 987 shares of common stock (expires 12/2026) | 12/23/2016 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||||
— | — | |||||||||||||||||||||||||||||||||||||||||||
Retriever Medical/Dental Payments LLC, FSDC Holdings, LLC, Rectangle Ware-Ever Pay LLC and Retriever Enterprises, LLC (15) | Provider of payment processing services and software to healthcare providers | First lien senior secured loan ($26.5 par due 2/2023) | 6.75% (Libor + 5.75%/Q) | 3/4/2019 | 26.5 | 26.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||
RMCF III CIV XXIX, L.P | Software provider for clinical trial management | Limited partnership interest (99.90% interest) | 12/19/2014 | 1.0 | 13.8 | (2) | ||||||||||||||||||||||||||||||||||||||
Severin Acquisition, LLC, PeopleAdmin, Inc., Promachos Holding, Inc. and Performance Matters LLC (15) | Provider of student information system software solutions to the K-12 education market | First lien senior secured revolving loan ($2.0 par due 8/2023) | 3.40% (Libor + 3.25%/M) | 8/1/2018 | 2.0 | 2.0 | (2) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($26.6 par due 8/2025) | 5.50% (Libor + 4.50%/M) | 11/22/2019 | 26.6 | 26.6 | (11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($80.0 par due 8/2026) | 6.90% (Libor + 6.75%/M) | 6/12/2018 | 79.4 | 80.0 | (2) | |||||||||||||||||||||||||||||||||||||||
108.0 | 108.6 | |||||||||||||||||||||||||||||||||||||||||||
Smarsh Inc., MobileGuard, LLC, Actiance, Inc. and Skywalker TopCo, LLC | SaaS based communication archival service provider | First lien senior secured loan ($13.3 par due 11/2025) | 9.25% (Libor + 8.25%/Q) | 11/20/2020 | 13.3 | 13.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Common units (1,432,835 units) | 11/20/2020 | 4.8 | 4.8 | (2) | ||||||||||||||||||||||||||||||||||||||||
18.1 | 17.8 | |||||||||||||||||||||||||||||||||||||||||||
SocialFlow, Inc. | Social media optimization platform provider | Warrant to purchase up to 215,331 shares of Series C preferred stock (expires 1/2026) | 1/13/2016 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||
Sophia, L.P. | Provider of ERP software and services for higher education institutions | Second lien senior secured loan ($105.9 par due 10/2028) | 9.00% (Libor + 8.00%/Q) | 10/7/2020 | 105.9 | 103.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||
SoundCloud Limited | Platform for receiving, sending, and distributing music | Common stock (73,422 shares) | 8/15/2017 | 0.4 | 0.7 | (2)(6) | ||||||||||||||||||||||||||||||||||||||
SpareFoot, LLC (15) | PMS solutions and web services for the self-storage industry | First lien senior secured revolving loan ($1.2 par due 4/2023) | 6.00% (Libor + 5.00%/Q) | 4/13/2018 | 1.2 | 1.2 | (2)(11)(14) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.2 par due 4/2024) | 6.00% (Libor + 5.00%/Q) | 5/6/2020 | 1.2 | 1.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($6.1 par due 4/2025) | 10.25% (Libor + 9.25%/Q) | 4/13/2018 | 6.0 | 6.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($4.2 par due 4/2025) | 10.25% (Libor + 9.25%/Q) | 8/31/2018 | 4.1 | 4.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($2.5 par due 4/2025) | 10.25% (Libor + 9.25%/Q) | 7/1/2019 | 2.5 | 2.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($1.3 par due 4/2025) | 10.25% (Libor + 9.25%/Q) | 7/1/2019 | 1.3 | 1.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($1.1 par due 4/2025) | 10.25% (Libor + 9.25%/Q) | 5/6/2020 | 1.1 | 1.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
17.4 | 17.6 | |||||||||||||||||||||||||||||||||||||||||||
Sparta Systems, Inc., Project Silverback Holdings Corp. and Silverback Holdings, Inc. (15) | Quality management software provider | First lien senior secured revolving loan | 8/21/2017 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($20.0 par due 8/2025) | 9.25% (Libor + 8.25%/M) | 8/21/2017 | 19.8 | 20.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Series B preferred stock (10,084 shares) | 8/21/2017 | 1.1 | 3.8 | |||||||||||||||||||||||||||||||||||||||||
20.9 | 23.8 |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||
SocialFlow, Inc. | Social media optimization platform provider | First lien senior secured loan ($4.0 par due 8/2019) | 9.50% (Libor + 8.50%/M) | 1/29/2016 | 3.9 | 4.0 | (5)(19) | ||||||||||||
Warrant to purchase up to 215,331 shares of Series C preferred stock (expires 1/2026) | 1/29/2016 | — | — | (5) | |||||||||||||||
3.9 | 4.0 | ||||||||||||||||||
Spin HoldCo Inc. | Laundry service and equipment provider | Second lien senior secured loan ($140.0 par due 5/2020) | 8.00% (Libor + 7.00%/Q) | 5/14/2013 | 140.0 | 138.6 | (2)(19) | ||||||||||||
Surface Dive, Inc. | SCUBA diver training and certification provider | Second lien senior secured loan ($31.6 par due 1/2022) | 9.00% (Libor + 8.00%/Q) | 7/28/2015 | 31.6 | 31.6 | (2)(19) | ||||||||||||
Second lien senior secured loan ($94.1 par due 1/2022) | 10.25% (Libor + 9.25%/Q) | 1/29/2015 | 93.8 | 94.1 | (2)(19) | ||||||||||||||
125.4 | 125.7 | ||||||||||||||||||
U.S. Security Associates Holdings, Inc | Security guard service provider | Second lien senior secured loan ($25.0 par due 7/2018) | 11.00% | 11/24/2015 | 25.0 | 25.0 | (2) | ||||||||||||
WASH Multifamily Acquisition Inc. and Coinamatic Canada Inc. | Laundry service and equipment provider | Second lien senior secured loan ($3.7 par due 5/2023) | 8.00% (Libor + 7.00%/Q) | 5/14/2015 | 3.7 | 3.7 | (2)(19) | ||||||||||||
Second lien senior secured loan ($21.3 par due 5/2023) | 8.00% (Libor + 7.00%/Q) | 5/14/2015 | 20.9 | 21.1 | (2)(19) | ||||||||||||||
24.6 | 24.8 | ||||||||||||||||||
794.5 | 787.4 | 15.25% | |||||||||||||||||
Consumer Products | |||||||||||||||||||
Badger Sportswear Acquisition, Inc. | Provider of team uniforms and athletic wear | Second lien senior secured loan ($50.0 par due 3/2024) | 10.00% (Libor + 9.00%/Q) | 9/6/2016 | 49.9 | 50.0 | (2)(19) | ||||||||||||
Feradyne Outdoors, LLC and Bowhunter Holdings, LLC | Provider of branded archery and bowhunting accessories | First lien senior secured loan ($4.4 par due 3/2019) | 4.00% (Libor + 3.00%/Q) | 4/24/2014 | 4.4 | 4.3 | (3)(19) | ||||||||||||
First lien senior secured loan ($5.2 par due 3/2019) | 4.00% (Libor + 3.00%/Q) | 4/24/2014 | 5.2 | 5.1 | (3)(19) | ||||||||||||||
First lien senior secured loan ($9.5 par due 3/2019) | 6.55% (Libor + 5.55%/Q) | 4/24/2014 | 9.5 | 9.0 | (3)(16)(19) | ||||||||||||||
First lien senior secured loan ($50.1 par due 3/2019) | 6.55% (Libor + 5.55%/Q) | 4/24/2014 | 50.1 | 47.6 | (3)(16)(19) | ||||||||||||||
Common units (300 units) | 4/24/2014 | 3.7 | 2.4 | (2) | |||||||||||||||
72.9 | 68.4 | ||||||||||||||||||
Indra Holdings Corp. | Designer, marketer, and distributor of rain and cold weather products | Second lien senior secured loan ($80.0 par due 11/2021) | 8.50% (Libor + 7.50%/Q) | 5/1/2014 | 79.2 | 60.8 | (2)(19) | ||||||||||||
Plantation Products, LLC, Seed Holdings, Inc. and Flora Parent, Inc. | Provider of branded lawn and garden products | Second lien senior secured loan ($2.0 par due 6/2021) | 8.99% (Libor + 7.99%/Q) | 12/23/2014 | 2.0 | 2.0 | (2)(19) | ||||||||||||
Second lien senior secured loan ($54.0 par due 6/2021) | 8.99% (Libor + 7.99%/Q) | 12/23/2014 | 53.8 | 54.0 | (3)(19) | ||||||||||||||
Second lien senior secured loan ($10.0 par due 6/2021) | 8.99% (Libor + 7.99%/Q) | 12/23/2014 | 10.0 | 10.0 | (4)(19) | ||||||||||||||
Common stock (30,000 shares) | 12/23/2014 | 3.0 | 5.2 | (2) | |||||||||||||||
68.8 | 71.2 | ||||||||||||||||||
SHO Holding I Corporation | Manufacturer and distributor of slip resistant footwear | Second lien senior secured loan ($100.0 par due 4/2023) | 9.50% (Libor + 8.50%/Q) | 10/27/2015 | 97.8 | 99.0 | (2)(19) | ||||||||||||
Shock Doctor, Inc. and Shock Doctor Holdings, LLC (7) | Developer, marketer and distributor of sports protection equipment and accessories | Second lien senior secured loan ($89.4 par due 10/2021) | 11.76% (Libor + 10.50%/Q) | 4/22/2015 | 89.4 | 87.6 | (2)(19) | ||||||||||||
Class A preferred units (50,000 units) | 3/14/2014 | 5.0 | 3.8 | (2) | |||||||||||||||
Class C preferred units (50,000 units) | 4/22/2015 | 5.0 | 3.8 | (2) | |||||||||||||||
99.4 | 95.2 | ||||||||||||||||||
The Step2 Company, LLC (8) | Toy manufacturer | Common units (1,116,879 units) | 4/1/2011 | — | 6.2 | ||||||||||||||
Class B common units (126,278,000 units) | 10/30/2014 | — | — | (2) | |||||||||||||||
Warrant to purchase up to 3,157,895 units | 4/1/2010 | — | — |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
Storm UK Holdco Limited and Storm US Holdco Inc. (15) | Provider of water infrastructure software solutions for municipalities / utilities and engineering consulting firms | First lien senior secured revolving loan ($0.2 par due 5/2022) | 6.25% (Libor + 5.25%/M) | 5/5/2017 | 0.2 | 0.2 | (2)(6)(11) | |||||||||||||||||||||||||||||||||||||
Surf Holdings, LLC | Cybersecurity solutions provider | Second lien senior secured loan ($25.0 par due 3/2028) | 9.00% (Libor + 8.00%/Q) | 3/5/2020 | 25.0 | 25.0 | (2)(6)(11) | |||||||||||||||||||||||||||||||||||||
TCP Hawker Intermediate LLC (15) | Workforce management solutions provider | First lien senior secured loan ($6.7 par due 8/2026) | 6.50% (Libor + 5.50%/M) | 12/1/2020 | 6.7 | 6.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($35.1 par due 8/2026) | 6.50% (Libor + 5.50%/Q) | 8/30/2019 | 35.1 | 35.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($7.4 par due 8/2026) | 6.50% (Libor + 5.50%/M) | 8/30/2019 | 7.4 | 7.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
49.2 | 49.2 | |||||||||||||||||||||||||||||||||||||||||||
The Ultimate Software Group, Inc. and H&F Unite Partners, L.P. (15) | Provider of cloud based HCM solutions for businesses | First lien senior secured revolving loan | 5/3/2019 | — | — | (6)(13) | ||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($205.4 par due 5/2027) | 8.15% (Libor + 8.00%/M) | 5/3/2019 | 205.4 | 205.4 | (2)(6) | |||||||||||||||||||||||||||||||||||||||
Limited partnership interests (12,583,556 interests) | 5/3/2019 | 12.6 | 14.4 | (2)(6) | ||||||||||||||||||||||||||||||||||||||||
218.0 | 219.8 | |||||||||||||||||||||||||||||||||||||||||||
Vela Trading Technologies, LLC (15) | Provider of market data software and content to global financial services clients | First lien senior secured revolving loan ($3.4 par due 6/2022) | 6.50% (Libor + 5.00% Cash, 0.50% PIK/Q) | 2/8/2018 | 3.4 | 3.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured revolving loan ($0.1 par due 6/2022) | 9.00% (Libor + 7.50 Cash, 0.50% PIK/Q) | 2/8/2018 | 0.1 | 0.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($4.5 par due 6/2022) | 11.00% (Libor + 7.50% Cash, 2.50% PIK/Q) | 4/17/2018 | 4.5 | 4.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
8.0 | 7.6 | |||||||||||||||||||||||||||||||||||||||||||
Velocity Holdings Corp. | Hosted enterprise resource planning application management services provider | Common units (1,713,546 units) | 12/13/2013 | 4.5 | 2.4 | |||||||||||||||||||||||||||||||||||||||
Verscend Holding Corp. (15) | Healthcare analytics solutions provider | First lien senior secured revolving loan | 8/27/2018 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
WebPT, Inc. (15) | Electronic medical record software provider | First lien senior secured loan ($48.1 par due 8/2024) | 7.75% (Libor + 6.75%/Q) | 8/28/2019 | 48.1 | 47.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Zemax Software Holdings, LLC (15) | Provider of optical illumination design software to design engineers | First lien senior secured revolving loan ($2.0 par due 6/2024) | 8.00% (Base Rate + 4.75%/Q) | 6/25/2018 | 2.0 | 2.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($16.7 par due 6/2024) | 6.75% (Libor + 5.75%/Q) | 6/25/2018 | 16.7 | 16.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
18.7 | 18.7 | |||||||||||||||||||||||||||||||||||||||||||
2,320.7 | 2,344.8 | 32.67% | ||||||||||||||||||||||||||||||||||||||||||
Commercial & Professional Services | ||||||||||||||||||||||||||||||||||||||||||||
Accommodations Plus Technologies LLC and Accommodations Plus Technologies Holdings LLC (15) | Provider of outsourced crew accommodations and logistics management solutions to the airline industry | First lien senior secured revolving loan ($4.1 par due 5/2023) | 10.25% (Libor + 9.25%/Q) | 5/11/2018 | 4.1 | 3.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Class A common units (236,358 units) | 5/11/2018 | 4.3 | 4.6 | |||||||||||||||||||||||||||||||||||||||||
8.4 | 8.5 | |||||||||||||||||||||||||||||||||||||||||||
Aero Operating LLC | Provider of snow removal and melting service for airports and marine terminals | First lien senior secured loan ($36.9 par due 2/2026) | 8.00% (Libor + 6.50%/M) | 2/7/2020 | 36.9 | 35.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||
AMCP Clean Intermediate, LLC (15) | Provider of janitorial and facilities management services | First lien senior secured revolving loan | 10/1/2018 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.4 par due 10/2024) | 7.25% (Libor + 6.25%/Q) | 7/31/2020 | 1.4 | 1.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.7 par due 10/2024) | 7.25% (Libor + 6.25%/Q) | 10/1/2020 | 0.7 | 0.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($8.7 par due 10/2024) | 7.25% (Libor + 6.25%/Q) | 12/14/2020 | 8.7 | 8.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
10.8 | 10.8 | |||||||||||||||||||||||||||||||||||||||||||
Capstone Acquisition Holdings, Inc. and Capstone Parent Holdings, LP (15) | Outsourced supply chain solutions provider to operators of distribution centers | First lien senior secured revolving loan ($1.4 par due 11/2025) | 5.75% (Libor + 4.75%/M) | 11/12/2020 | 1.4 | 1.4 | (2)(11)(14) | |||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($68.3 par due 11/2028) | 9.75% (Libor + 8.75%/Q) | 11/12/2020 | 68.3 | 66.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A units (10,581 units) | 11/12/2020 | 10.6 | 10.6 | (2) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||
— | 6.2 | ||||||||||||||||||
Varsity Brands Holding Co., Inc., Hercules Achievement, Inc., Hercules Achievement Holdings, Inc. and Hercules VB Holdings, Inc. | Leading manufacturer and distributor of textiles, apparel & luxury goods | Second lien senior secured loan ($25.0 par due 12/2022) | 9.75% (Libor + 8.75%/Q) | 10/28/2016 | 25.0 | 25.0 | (2)(19) | ||||||||||||
Second lien senior secured loan ($1.6 par due 12/2022) | 9.75% (Libor + 8.75%/Q) | 12/11/2014 | 1.6 | 1.6 | (2)(19) | ||||||||||||||
Second lien senior secured loan ($54.0 par due 12/2022) | 9.75% (Libor + 8.75%/Q) | 12/11/2014 | 53.6 | 54.0 | (3)(19) | ||||||||||||||
Second lien senior secured loan ($91.7 par due 12/2022) | 9.75% (Libor + 8.75%/Q) | 12/11/2014 | 91.0 | 91.7 | (2)(19) | ||||||||||||||
Common stock (3,353,370 shares) | 12/11/2014 | 3.4 | 3.7 | (2) | |||||||||||||||
Common stock (3,353,371 shares) | 12/11/2014 | 4.1 | 4.6 | (2) | |||||||||||||||
178.7 | 180.6 | ||||||||||||||||||
Wonder Holdings Acquisition Corp. | Developer and marketer of OTC healthcare products | Warrant to purchase up to 1,654,678 shares of common stock (expires 6/2021) | 7/27/2011 | — | 0.8 | (2) | |||||||||||||
Warrant to purchase up to 941 shares of preferred stock (expires 6/2021) | 7/27/2011 | — | 1.5 | (2) | |||||||||||||||
— | 2.3 | ||||||||||||||||||
646.7 | 633.7 | 12.27% | |||||||||||||||||
Power Generation | |||||||||||||||||||
Alphabet Energy, Inc. | Technology developer to convert waste-heat into electricity | First lien senior secured loan ($3.9 par due 8/2017) | 14.50% (Libor + 11.50% Cash, 2.00% PIK/M) | 12/16/2013 | 3.8 | 3.9 | (2)(17)(19) | ||||||||||||
Series 1B preferred stock (12,976 shares) | 6/21/2016 | 0.2 | 0.1 | (2) | |||||||||||||||
Warrant to purchase up to 125,000 shares of Series 2 preferred stock (expires 12/2023) | 6/30/2016 | 0.1 | 0.1 | (2) | |||||||||||||||
4.1 | 4.1 | ||||||||||||||||||
CEI Kings Mountain Investor, LP | Gas turbine power generation facilities operator | Senior subordinated loan ($32.6 par due 3/2017) | 11.00% PIK | 3/11/2016 | 32.6 | 32.6 | (2) | ||||||||||||
CPV Maryland Holding Company II, LLC | Gas turbine power generation facilities operator | Senior subordinated loan ($44.5 par due 12/2020) | 10.00% | 8/8/2014 | 44.5 | 43.3 | (2) | ||||||||||||
Warrant to purchase up to 4 units of common stock (expires 8/2018) | 8/8/2014 | — | 0.2 | (2) | |||||||||||||||
44.5 | 43.5 | ||||||||||||||||||
DESRI VI Management Holdings, LLC | Wind power generation facility operator | Senior subordinated loan ($25.0 par due 12/2021) | 9.75% | 12/24/2014 | 25.0 | 25.0 | (2) | ||||||||||||
Non-controlling units (10.0 units) | 12/24/2014 | 1.6 | 1.8 | (2) | |||||||||||||||
26.6 | 26.8 | ||||||||||||||||||
Green Energy Partners, Stonewall LLC and Panda Stonewall Intermediate Holdings II LLC | Gas turbine power generation facilities operator | First lien senior secured loan ($25.0 par due 11/2021) | 6.50% (Libor + 5.50%/Q) | 11/13/2014 | 24.8 | 24.6 | (2)(19) | ||||||||||||
Senior subordinated loan ($19.5 par due 12/2021) | 8.00% Cash, 5.25% PIK | 11/13/2014 | 19.5 | 19.2 | (2) | ||||||||||||||
Senior subordinated loan ($91.2 par due 12/2021) | 8.00% Cash, 5.25% PIK | 11/13/2014 | 91.2 | 89.8 | (2) | ||||||||||||||
135.5 | 133.6 | ||||||||||||||||||
Joule Unlimited Technologies, Inc. and Stichting Joule Global Foundation | Renewable fuel and chemical production developer | First lien senior secured loan ($8.8 par due 10/2018) | 3/31/2015 | 8.5 | 6.2 | (2)(17)(18) | |||||||||||||
Warrant to purchase up to 32,051 shares of Series C-2 preferred stock (expires 7/2023) | 7/25/2013 | — | — | (2)(9) | |||||||||||||||
8.5 | 6.2 | ||||||||||||||||||
La Paloma Generating Company, LLC | Natural gas fired, combined cycle plant operator | Second lien senior secured loan ($10.0 par due 2/2020) | 2/20/2014 | 8.8 | — | (2)(18) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
80.3 | 78.9 | |||||||||||||||||||||||||||||||||||||||||||
Cozzini Bros., Inc. and BH-Sharp Holdings LP (15) | Provider of commercial knife sharpening and cutlery services in the restaurant industry | First lien senior secured revolving loan | 3/10/2017 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($12.0 par due 3/2023) | 8.50% (Libor + 3.00% Cash, 4.50% PIK/Q) | 3/10/2017 | 12.0 | 10.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Common units (2,950,000 units) | 3/10/2017 | 3.0 | 0.3 | (2) | ||||||||||||||||||||||||||||||||||||||||
15.0 | 10.6 | |||||||||||||||||||||||||||||||||||||||||||
Crown Health Care Laundry Services, LLC and Crown Laundry Holdings, LLC (4)(15) | Provider of outsourced healthcare linen management solutions | First lien senior secured revolving loan | 3/13/2014 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($9.9 par due 12/2021) | 7.25% (Libor + 6.25%/M) | 3/13/2014 | 9.9 | 9.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.9 par due 12/2021) | 7.25% (Libor + 6.25%/M) | 4/6/2017 | 0.9 | 0.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($5.0 par due 12/2021) | 7.25% (Libor + 6.25%/M) | 2/22/2019 | 5.0 | 5.0 | (11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($11.3 par due 12/2021) | 7.25% (Libor + 6.25%/M) | 6/12/2018 | 11.3 | 11.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A preferred units (3,393,973 units) | 3/13/2014 | 4.0 | 6.0 | (2) | ||||||||||||||||||||||||||||||||||||||||
Class B common units (377,108 units) | 3/13/2014 | 0.4 | 6.5 | (2) | ||||||||||||||||||||||||||||||||||||||||
31.5 | 39.6 | |||||||||||||||||||||||||||||||||||||||||||
Divisions Holding Corporation and RC V Tecmo Investor LLC (15) | Technology based aggregator for facility maintenance services | First lien senior secured revolving loan ($2.5 par due 8/2026) | 7.50% (Libor + 6.50%/Q) | 8/14/2020 | 2.5 | 2.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($43.6 par due 8/2026) | 7.50% (Libor + 6.50%/Q) | 8/14/2020 | 43.6 | 43.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Common member units (9,624,000 units) | 8/14/2020 | 9.6 | 15.5 | (2) | ||||||||||||||||||||||||||||||||||||||||
55.7 | 61.2 | |||||||||||||||||||||||||||||||||||||||||||
DTI Holdco, Inc. and OPE DTI Holdings, Inc. (15) | Provider of legal process outsourcing and managed services | First lien senior secured revolving loan ($0.4 par due 9/2022) | 6.75% (Base Rate + 3.50%/Q) | 9/23/2016 | 0.4 | 0.4 | (2)(14) | |||||||||||||||||||||||||||||||||||||
First lien senior secured revolving loan ($4.4 par due 9/2022) | 4.71% (Libor + 4.50%/Q) | 9/23/2016 | 4.4 | 3.9 | (2)(14) | |||||||||||||||||||||||||||||||||||||||
Class A common stock (7,500 shares) | 8/19/2014 | 7.5 | 3.7 | (2) | ||||||||||||||||||||||||||||||||||||||||
Class B common stock (7,500 shares) | 8/19/2014 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||||
12.3 | 8.0 | |||||||||||||||||||||||||||||||||||||||||||
Elevation Services Parent Holdings, LLC (15) | Elevator service platform | First lien senior secured revolving loan ($0.4 par due 12/2026) | 6.50% (Libor + 5.50%/Q) | 12/18/2020 | 0.4 | 0.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($8.8 par due 12/2026) | 6.50% (Libor + 5.50%/Q) | 12/18/2020 | 8.8 | 8.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
9.2 | 9.1 | |||||||||||||||||||||||||||||||||||||||||||
HAI Acquisition Corporation and Aloha Topco, LLC (15) | Professional employer organization offering human resources, compliance and risk management services | First lien senior secured loan ($61.7 par due 11/2024) | 6.50% (Libor + 5.50%/M) | 11/1/2017 | 61.7 | 61.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Class A units (16,980 units) | 11/1/2017 | 1.7 | 2.5 | (2) | ||||||||||||||||||||||||||||||||||||||||
63.4 | 64.2 | |||||||||||||||||||||||||||||||||||||||||||
IMIA Holdings, Inc. (15) | Marine preservation maintenance company | First lien senior secured revolving loan | 10/26/2018 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($28.4 par due 10/2025) | 7.00% (Libor + 6.00%/Q) | 10/26/2018 | 28.3 | 28.4 | (11) | |||||||||||||||||||||||||||||||||||||||
28.3 | 28.4 | |||||||||||||||||||||||||||||||||||||||||||
IRI Holdings, Inc., IRI Group Holdings, Inc. and IRI Parent, L.P. | Market research company focused on the consumer packaged goods industry | First lien senior secured loan ($57.7 par due 12/2025) | 4.40% (Libor + 4.25%/M) | 11/30/2018 | 57.2 | 57.7 | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($7.9 par due 12/2025) | 5.15% (Libor + 5.00%/M) | 9/28/2020 | 7.5 | 7.9 | (2) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($86.8 par due 11/2026) | 8.15% (Libor + 8.00%/M) | 11/30/2018 | 85.7 | 86.8 | (2) | |||||||||||||||||||||||||||||||||||||||
Series A-1 preferred shares (46,900 shares) | 11.50% PIK (Libor + 10.50%/S) | 11/30/2018 | 58.2 | 58.9 | (2)(11) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||
Moxie Liberty LLC | Gas turbine power generation facilities operator | First lien senior secured loan ($34.7 par due 8/2020) | 7.50% (Libor + 6.50%/Q) | 8/21/2013 | 34.5 | 34.7 | (2)(19) | ||||||||||||
Moxie Patriot LLC | Gas turbine power generation facilities operator | First lien senior secured loan ($34.3 par due 12/2020) | 6.75% (Libor + 5.75%/Q) | 12/19/2013 | 34.0 | 34.1 | (2)(19) | ||||||||||||
Noonan Acquisition Company, LLC | Gas turbine power generation facilities operator | Senior subordinated loan ($50.9 par due 10/2017) | 10.25% | 7/22/2016 | 50.9 | 50.9 | (2) | ||||||||||||
Panda Power Annex Fund Hummel Holdings II LLC | Gas turbine power generation facilities operator | Senior subordinated loan ($52.2 par due 1/2017) | 13.00% PIK | 10/27/2015 | 52.2 | 52.2 | (2) | ||||||||||||
Panda Temple Power II, LLC | Gas turbine power generation facilities operator | First lien senior secured loan ($19.8 par due 4/2019) | 7.25% (Libor + 6.00%/Q) | 4/3/2013 | 19.7 | 18.0 | (2)(19) | ||||||||||||
Panda Temple Power, LLC | Gas turbine power generation facilities operator | First lien senior secured loan ($24.6 par due 3/2022) | 7.25% (Libor + 6.25%/Q) | 3/6/2015 | 23.6 | 21.4 | (2)(19) | ||||||||||||
PERC Holdings 1 LLC | Operator of recycled energy, combined heat and power, and energy efficiency facilities | Class B common units (21,653,543 units) | 10/20/2014 | 21.7 | 26.1 | (2) | |||||||||||||
Riverview Power LLC | Natural gas and oil fired power generation facilities operator | First lien senior secured loan ($8.6 par due 12/2021) | 7.25% (Base Rate + 3.50%/Q) | 12/29/2016 | 8.6 | 8.6 | (2)(19) | ||||||||||||
First lien senior secured loan ($73.6 par due 12/2022) | 11.00% (Base Rate + 7.25%/Q) | 12/29/2016 | 73.6 | 73.6 | (2)(19) | ||||||||||||||
82.2 | 82.2 | ||||||||||||||||||
579.4 | 566.4 | 10.97% | |||||||||||||||||
Restaurants and Food Services | |||||||||||||||||||
ADF Capital, Inc., ADF Restaurant Group, LLC, and ARG Restaurant Holdings, Inc. (8) | Restaurant owner and operator | First lien senior secured loan ($3.1 par due 12/2018) | 15.00% (Libor + 14.00%/Q) | 12/22/2016 | 3.1 | 3.1 | (2)(19) | ||||||||||||
First lien senior secured loan ($29.6 par due 12/2018) | 11/27/2006 | 28.9 | 20.4 | (2)(18) | |||||||||||||||
First lien senior secured loan ($11.3 par due 12/2018) | 11/27/2006 | 11.0 | 7.8 | (3)(18) | |||||||||||||||
Promissory note ($25.5 par due 12/2023) | 11/27/2006 | 13.8 | — | (2) | |||||||||||||||
Warrant to purchase up to 23,750 units of Series D common stock (expires 12/2023) | 12/18/2013 | — | — | (2) | |||||||||||||||
56.8 | 31.3 | ||||||||||||||||||
Benihana, Inc. (24) | Restaurant owner and operator | First lien senior secured revolving loan ($0.8 par due 7/2018) | 8.25% (Libor + 7.00%/Q) | 8/21/2012 | 0.8 | 0.8 | (2)(19)(23) | ||||||||||||
First lien senior secured revolving loan ($0.7 par due 7/2018) | 9.50% (Base Rate + 5.75%/Q) | 8/21/2012 | 0.7 | 0.7 | (2)(19)(23) | ||||||||||||||
First lien senior secured loan ($4.8 par due 1/2019) | 8.25% (Libor + 7.00%/Q) | 8/21/2012 | 4.8 | 4.6 | (4)(19) | ||||||||||||||
First lien senior secured loan ($0.3 par due 1/2019) | 8.25% (Libor + 7.00%/Q) | 12/28/2016 | 0.3 | 0.3 | (2)(19) | ||||||||||||||
6.6 | 6.4 | ||||||||||||||||||
DineInFresh, Inc. | Meal-delivery provider | First lien senior secured loan ($4.8 par due 7/2018) | 9.75% (Libor + 8.75%/M) | 12/19/2014 | 4.7 | 4.8 | (2)(19) | ||||||||||||
Warrant to purchase up to 143,079 shares of Series A preferred stock (expires 12/2024) | 12/19/2014 | — | — | (2) | |||||||||||||||
4.7 | 4.8 | ||||||||||||||||||
Garden Fresh Restaurant Corp. (24) | Restaurant owner and operator | First lien senior secured revolving loan | - | 10/3/2013 | — | — | (22) | ||||||||||||
First lien senior secured loan ($40.1 par due 7/2018) | 10.50% (Libor + 9.00%/Q) | 10/3/2013 | 40.1 | 38.1 | (2)(19) | ||||||||||||||
First lien senior secured loan ($1.5 par due 10/2017) | 15.50% PIK | 11/14/2016 | 1.5 | 1.5 | (2) | ||||||||||||||
41.6 | 39.6 |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
Class A-1 common units (90,500 units) | 11/30/2018 | 9.1 | 16.5 | (2) | ||||||||||||||||||||||||||||||||||||||||
217.7 | 227.8 | |||||||||||||||||||||||||||||||||||||||||||
Kellermeyer Bergensons Services, LLC (15) | Provider of janitorial and facilities management services | First lien senior secured loan ($1.7 par due 11/2026) | 7.50% (Libor + 6.50%/Q) | 11/7/2019 | 1.7 | 1.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($30.0 par due 11/2026) | 7.50% (Libor + 6.50%/Q) | 11/7/2019 | 29.7 | 30.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($6.6 par due 11/2026) | 7.50% (Libor + 6.50%/Q) | 11/7/2019 | 6.6 | 6.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
38.0 | 38.3 | |||||||||||||||||||||||||||||||||||||||||||
KPS Global LLC and Cool Group LLC | Manufacturer of walk-in cooler and freezer systems | First lien senior secured loan ($15.2 par due 4/2022) | 6.50% (Libor + 5.50%/M) | 4/5/2017 | 15.2 | 15.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($4.1 par due 4/2022) | 6.50% (Libor + 5.50%/M) | 11/16/2018 | 4.1 | 4.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A units (13,292 units) | 9/21/2018 | 1.1 | 2.0 | |||||||||||||||||||||||||||||||||||||||||
20.4 | 21.3 | |||||||||||||||||||||||||||||||||||||||||||
Laboratories Bidco LLC (15) | Lab testing services for nicotine containing products | First lien senior secured loan ($20.8 par due 6/2024) | 7.00% (Libor + 6.00%/Q) | 10/30/2020 | 20.8 | 20.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($29.5 par due 6/2024) | 7.00% (Libor + 6.00%/Q) | 10/4/2019 | 29.5 | 29.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($25.5 par due 6/2024) | 7.00% (CDOR + 6.00%/Q) | 10/4/2019 | 24.4 | 25.5 | (11) | |||||||||||||||||||||||||||||||||||||||
74.7 | 75.8 | |||||||||||||||||||||||||||||||||||||||||||
Microstar Logistics LLC, Microstar Global Asset Management LLC, and MStar Holding Corporation | Keg management solutions provider | Second lien senior secured loan ($138.9 par due 7/2023) | 10.00% PIK (Libor + 9.00%/Q) | 8/13/2020 | 138.9 | 119.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Series A preferred stock (1,507 shares) | 8/13/2020 | 1.5 | 2.1 | (2) | ||||||||||||||||||||||||||||||||||||||||
Common stock (54,710 shares) | 12/14/2012 | 4.9 | 1.0 | (2) | ||||||||||||||||||||||||||||||||||||||||
145.3 | 122.5 | |||||||||||||||||||||||||||||||||||||||||||
NAS, LLC and Nationwide Marketing Group, LLC (15) | Buying and marketing services organization for appliance, furniture and consumer electronics dealers | First lien senior secured loan ($6.4 par due 6/2024) | 7.50% (Libor + 6.50%/Q) | 11/3/2020 | 6.4 | 6.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||
NM GRC Holdco, LLC | Regulatory compliance services provider to financial institutions | First lien senior secured loan ($35.6 par due 2/2024) | 8.50% (Libor + 6.00% Cash, 1.50% PIK/M) | 2/9/2018 | 35.4 | 34.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($9.5 par due 2/2024) | 8.50% (Libor + 6.00% Cash, 1.50% PIK/M) | 2/9/2018 | 9.5 | 9.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
44.9 | 43.3 | |||||||||||||||||||||||||||||||||||||||||||
Petroleum Service Group LLC (15) | Provider of operational services for US petrochemical and refining companies | First lien senior secured revolving loan | 7/23/2019 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($34.6 par due 7/2025) | 6.25% (Libor + 5.25%/Q) | 7/23/2019 | 34.6 | 34.6 | (11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.7 par due 7/2025) | 6.25% (Libor + 5.25%/Q) | 7/23/2019 | 0.7 | 0.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
35.3 | 35.3 | |||||||||||||||||||||||||||||||||||||||||||
QC Supply, LLC (15) | Specialty distributor and solutions provider to the swine and poultry markets | First lien senior secured revolving loan ($8.8 par due 12/2021) | 8.00% (Libor + 7.00%/M) | 12/29/2016 | 8.8 | 8.1 | (2)(11)(14) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($25.8 par due 12/2022) | 8.00% (Libor + 6.50% Cash, 0.50% PIK/M) | 12/29/2016 | 25.8 | 23.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($8.7 par due 12/2022) | 8.00% (Libor + 6.50% Cash, 0.50% PIK/M) | 12/29/2016 | 8.7 | 8.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
43.3 | 39.9 | |||||||||||||||||||||||||||||||||||||||||||
R2 Acquisition Corp. | Marketing services | Common stock (250,000 shares) | 5/29/2007 | 0.3 | 0.3 | (2) | ||||||||||||||||||||||||||||||||||||||
RE Community Holdings GP, LLC and RE Community Holdings, LP | Operator of municipal recycling facilities | Limited partnership interest (2.86% interest) | 3/1/2011 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||
Limited partnership interest (2.49% interest) | 3/1/2011 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||||
— | — | |||||||||||||||||||||||||||||||||||||||||||
Research Now Group, LLC and Survey Sampling International, LLC | Provider of outsourced data collection to the market research industry | First lien senior secured loan ($41.1 par due 12/2024) | 6.50% (Libor + 5.50%/Q) | 2/14/2019 | 41.1 | 39.9 | (2)(11) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||
Global Franchise Group, LLC and GFG Intermediate Holding, Inc. | Worldwide franchisor of quick service restaurants | First lien senior secured loan ($60.8 par due 12/2019) | 10.47% (Libor + 9.47%/Q) | 12/18/2014 | 60.8 | 60.8 | (3)(19) | ||||||||||||
Heritage Food Service Group, Inc. and WCI-HFG Holdings, LLC | Distributor of repair and replacement parts for commercial kitchen equipment | Second lien senior secured loan ($31.6 par due 10/2022) | 9.50% (Libor + 8.50%/Q) | 10/20/2015 | 31.6 | 31.6 | (2)(19) | ||||||||||||
Preferred units (3,000,000 units) | 10/20/2015 | 3.0 | 3.1 | (2) | |||||||||||||||
34.6 | 34.7 | ||||||||||||||||||
Orion Foods, LLC (8) | Convenience food service retailer | First lien senior secured loan ($1.2 par due 9/2015) | 4/1/2010 | 1.2 | 0.5 | (2)(18) | |||||||||||||
Second lien senior secured loan ($19.4 par due 9/2015) | 4/1/2010 | — | — | (2)(18) | |||||||||||||||
Preferred units (10,000 units) | 10/28/2010 | — | — | ||||||||||||||||
Class A common units (25,001 units) | 4/1/2010 | — | — | ||||||||||||||||
Class B common units (1,122,452 units) | 4/1/2010 | — | — | ||||||||||||||||
1.2 | 0.5 | ||||||||||||||||||
OTG Management, LLC (24) | Airport restaurant operator | First lien senior secured loan ($97.8 par due 8/2021) | 9.50% (Libor + 8.50%/Q) | 8/26/2016 | 97.8 | 97.8 | (3)(19) | ||||||||||||
Senior subordinated loan ($21.2 par due 2/2022) | 17.50% PIK | 8/26/2016 | 21.1 | 21.2 | (2) | ||||||||||||||
Class A preferred units (3,000,000 units) | 8/26/2016 | 30.0 | 30.9 | (2) | |||||||||||||||
Common units (3,000,000 units) | 1/5/2011 | 3.0 | 11.0 | (2) | |||||||||||||||
Warrant to purchase up to 7.73% of common units (expires 6/2018) | 6/19/2008 | 0.1 | 24.2 | (2) | |||||||||||||||
Warrant to purchase 0.60% of the common units deemed outstanding (expires 12/2018) | 8/26/2016 | — | — | (2) | |||||||||||||||
152.0 | 185.1 | ||||||||||||||||||
Restaurant Holding Company, LLC | Fast food restaurant operator | First lien senior secured loan ($34.5 par due 2/2019) | 8.75% (Libor + 7.75%/Q) | 3/13/2014 | 34.4 | 33.8 | (3)(19) | ||||||||||||
Restaurant Technologies, Inc. (24) | Provider of bulk cooking oil management services to the restaurant and fast food service industries | First lien senior secured revolving loan ($0.3 par due 11/2021) | 7.50% (Base Rate + 3.75%/Q) | 11/23/2016 | 0.3 | 0.3 | (2)(19)(23) | ||||||||||||
393.0 | 397.3 | 7.69% | |||||||||||||||||
Financial Services | |||||||||||||||||||
AllBridge Financial, LLC (8) | Asset management services | Equity interests | 4/1/2010 | — | 0.4 | ||||||||||||||
Callidus Capital Corporation (8) | Asset management services | Common stock (100 shares) | 4/1/2010 | 3.0 | 1.7 | ||||||||||||||
Ciena Capital LLC (8)(24) | Real estate and small business loan servicer | First lien senior secured revolving loan ($14.0 par due 12/2017) | 6.00% | 11/29/2010 | 14.0 | 14.0 | (2) | ||||||||||||
Equity interests | 11/29/2010 | 35.0 | 17.7 | (2) | |||||||||||||||
49.0 | 31.7 | ||||||||||||||||||
Commercial Credit Group, Inc. | Commercial equipment finance and leasing company | Senior subordinated loan ($28.0 par due 8/2022) | 11.00% (Libor + 9.75%/Q) | 5/10/2012 | 28.0 | 28.0 | (2)(19) | ||||||||||||
Imperial Capital Group LLC | Investment services | Class A common units (32,369 units) | 5/10/2007 | 7.9 | 12.2 | (2) | |||||||||||||
2006 Class B common units (10,605 units) | 5/10/2007 | — | — | (2) | |||||||||||||||
2007 Class B common units (1,323 units) | 5/10/2007 | — | — | (2) | |||||||||||||||
7.9 | 12.2 | ||||||||||||||||||
Ivy Hill Asset Management, L.P. (8)(10) | Asset management services | Member interest (100.00% interest) | 6/15/2009 | 171.0 | 229.2 | ||||||||||||||
Javlin Three LLC, Javlin Four LLC, and Javlin Five LLC (10) | Asset-backed financial services company | First lien senior secured loan ($32.1 par due 6/2017) | 10.47% (Libor + 10%/Q) | 6/24/2014 | 32.1 | 32.1 | (2) | ||||||||||||
LSQ Funding Group, L.C. and LM LSQ Investors LLC (10) | Asset based lender | Senior subordinated loan ($30.0 par due 6/2021) | 10.50% | 6/25/2015 | 30.0 | 30.0 | (2) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
SecurAmerica, LLC, ERMC LLC, ERMC Of America, LLC, SecurAmerica Corporation, SecurAmerica Aviation Security LLC, American Security Programs, Inc., USI LLC, Argenbright Holdings IV, LLC and Scrub Holdings, Inc (15) | Provider of outsourced security guard services, outsourced facilities management and outsourced aviation services | First lien senior secured loan ($4.7 par due 12/2023) | 9.25% (Libor + 8.00%/Q) | 11/24/2020 | 4.7 | 4.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($25.7 par due 12/2023) | 9.25% (Libor + 8.00%/M) | 12/21/2018 | 25.7 | 25.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($9.7 par due 12/2023) | 9.25% (Libor + 8.00%/M) | 12/21/2018 | 9.7 | 9.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.7 par due 12/2023) | 9.25% (Libor + 8.00%/M) | 12/21/2018 | 1.7 | 1.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.1 par due 12/2023) | 9.25% (Libor + 8.00%/M) | 12/21/2018 | 1.1 | 1.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($3.0 par due 7/2021) | 9.25% (Libor + 3.50% Cash, 4.50% PIK/Q) | 4/16/2020 | 3.0 | 3.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($14.5 par due 12/2023) | 9.25% (Libor + 8.00%/M) | 11/24/2020 | 14.5 | 14.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
60.4 | 60.4 | |||||||||||||||||||||||||||||||||||||||||||
SSE Buyer, Inc., Supply Source Enterprises, Inc., Impact Products LLC, The Safety Zone, LLC and SSE Parent, LP (15) | Manufacturer and distributor of personal protection equipment, commercial cleaning, maintenance and safety products | First lien senior secured loan ($22.0 par due 6/2026) | 10.22% (Libor + 9.22%/Q) | 6/30/2020 | 22.0 | 22.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Limited partnership class A-1 units (2,173 units) | 6/30/2020 | 1.1 | 1.7 | (2) | ||||||||||||||||||||||||||||||||||||||||
Limited partnership class A-2 units (2,173 units) | 6/30/2020 | 1.1 | 1.7 | (2) | ||||||||||||||||||||||||||||||||||||||||
24.2 | 25.4 | |||||||||||||||||||||||||||||||||||||||||||
Startec Equity, LLC (5) | Communication services | Member interest | 4/1/2020 | — | — | |||||||||||||||||||||||||||||||||||||||
TDG Group Holding Company and TDG Co-Invest, LP (15) | Operator of multiple franchise concepts primarily related to home maintenance or repairs | First lien senior secured revolving loan ($0.1 par due 5/2024) | 5.40% (Libor + 5.25%/M) | 5/31/2018 | 0.1 | 0.1 | (2)(14) | |||||||||||||||||||||||||||||||||||||
Preferred units (2,871,000 units) | 5/31/2018 | 2.9 | 3.5 | (2) | ||||||||||||||||||||||||||||||||||||||||
Common units (29,000 units) | 5/31/2018 | — | 2.1 | (2) | ||||||||||||||||||||||||||||||||||||||||
3.0 | 5.7 | |||||||||||||||||||||||||||||||||||||||||||
Tyden Group Holding Corp. | Producer and marketer of global cargo security, product identification and traceability products and utility meter products | Preferred stock (46,276 shares) | 1/3/2017 | 0.4 | 0.4 | (6) | ||||||||||||||||||||||||||||||||||||||
Common stock (5,521,203 shares) | 1/3/2017 | 2.0 | 1.1 | (6) | ||||||||||||||||||||||||||||||||||||||||
2.4 | 1.5 | |||||||||||||||||||||||||||||||||||||||||||
Visual Edge Technology, Inc. | Provider of outsourced office solutions with a focus on printer and copier equipment and other parts and supplies | First lien senior secured loan ($16.8 par due 8/2022) | 8.50% (Libor + 5.75% Cash, 1.25% PIK/M) | 8/31/2017 | 16.7 | 16.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($15.7 par due 8/2022) | 8.50% (Libor + 5.75% Cash, 1.25% PIK/Q) | 8/31/2017 | 15.7 | 15.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Senior subordinated loan ($75.6 par due 9/2024) | 16.00% PIK | 8/31/2017 | 73.4 | 74.0 | (2) | |||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 3,094,492 shares of common stock (expires 8/2027) | 8/31/2017 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 2,838,079 shares of preferred stock (expires 8/2027) | 8/31/2017 | 3.9 | 2.6 | (2) | ||||||||||||||||||||||||||||||||||||||||
109.7 | 108.7 | |||||||||||||||||||||||||||||||||||||||||||
VLS Recovery Services, LLC (15) | Provider of commercial and industrial waste processing and disposal services | First lien senior secured revolving loan | 10/17/2017 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
VRC Companies, LLC (15) | Provider of records and information management services | First lien senior secured loan ($26.4 par due 3/2023) | 7.50% (Libor + 6.50%/Q) | 3/31/2017 | 26.4 | 26.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||
WCI-HFG Holdings, LLC | Distributor of repair and replacement parts for commercial kitchen equipment | Preferred units (1,400,000 units) | 10/20/2015 | 1.4 | 1.7 | (2) | ||||||||||||||||||||||||||||||||||||||
XIFIN, Inc. and ACP Charger Co-Invest LLC (15) | Revenue cycle management provider to labs | First lien senior secured loan ($2.1 par due 2/2026) | 6.25% (Libor + 5.25%/Q) | 2/6/2020 | 2.1 | 2.1 | (2)(11) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||
Membership units (3,275,000 units) | 6/25/2015 | 3.3 | 3.3 | ||||||||||||||||
33.3 | 33.3 | ||||||||||||||||||
The Gordian Group, Inc. | Financial services firm | Common stock (526 shares) | 11/30/2012 | — | — | (2) | |||||||||||||
324.3 | 368.6 | 7.14% | |||||||||||||||||
Manufacturing | |||||||||||||||||||
Component Hardware Group, Inc. (24) | Commercial equipment | First lien senior secured revolving loan ($1.9 par due 7/2019) | 5.50% (Libor + 4.50%/Q) | 7/1/2013 | 1.9 | 1.9 | (2)(19) | ||||||||||||
First lien senior secured loan ($8.0 par due 7/2019) | 5.50% (Libor + 4.50%/Q) | 7/1/2013 | 8.0 | 8.0 | (4)(19) | ||||||||||||||
9.9 | 9.9 | ||||||||||||||||||
Harvey Tool Company, LLC and Harvey Tool Holding, LLC (24) | Cutting tool provider to the metalworking industry | First lien senior secured revolving loan | - | 8/13/2015 | — | — | (22) | ||||||||||||
Senior subordinated loan ($28.1 par due 9/2020) | 10.00% Cash, 1.00% PIK | 8/13/2015 | 28.1 | 28.1 | (2) | ||||||||||||||
Class A membership units (750 units) | 3/28/2014 | 0.9 | 1.7 | (2) | |||||||||||||||
29.0 | 29.8 | ||||||||||||||||||
Ioxus, Inc | Energy storage devices | First lien senior secured loan ($0.7 par due 8/2017) | 12.00% PIK | 8/24/2016 | 0.7 | 0.6 | (2) | ||||||||||||
First lien senior secured loan ($10.2 par due 6/2019) | 5.00 % Cash, 7.00% PIK | 4/29/2014 | 10.0 | 9.7 | (2) | ||||||||||||||
First lien senior secured loan ($0.4 par due 6/2019) | 4/29/2014 | 0.4 | 0.4 | (2) | |||||||||||||||
Warrant to purchase up to 1,210,235 shares of Series BB preferred stock (expires 8/2026) | 1/28/2016 | — | — | (2) | |||||||||||||||
Warrant to purchase up to 3,038,730 shares of common stock (expires 1/2026) | 1/28/2016 | — | — | (2) | |||||||||||||||
11.1 | 10.7 | ||||||||||||||||||
KPS Global LLC | Walk-in cooler and freezer systems | First lien senior secured loan ($27.1 par due 12/2020) | 9.67% (Libor + 8.67%/Q) | 12/4/2015 | 27.1 | 27.1 | (2)(19) | ||||||||||||
MacLean-Fogg Company and MacLean-Fogg Holdings, L.L.C. | Manufacturer and supplier for the power utility and automotive markets worldwide | Senior subordinated loan ($99.9 par due 10/2025) | 10.50% Cash, 3.00% PIK | 10/31/2013 | 99.9 | 99.9 | (2) | ||||||||||||
Preferred units (70,183 units) | 4.50% Cash, 9.25% PIK | 10/9/2015 | 73.5 | 73.5 | |||||||||||||||
173.4 | 173.4 | ||||||||||||||||||
Niagara Fiber Intermediate Corp. (24) | Insoluble fiber filler products | First lien senior secured revolving loan ($1.9 par due 5/2018) | 5/8/2014 | 1.8 | 1.4 | (2)(18) | |||||||||||||
First lien senior secured loan ($1.4 par due 5/2018) | 5/8/2014 | 1.3 | 1.0 | (2)(18) | |||||||||||||||
First lien senior secured loan ($13.6 par due 5/2018) | 5/8/2014 | 12.9 | 10.0 | (2)(18) | |||||||||||||||
16.0 | 12.4 | ||||||||||||||||||
Nordco Inc. | Railroad maintenance-of-way machinery | First lien senior secured revolving loan | - | 8/26/2015 | — | — | (22) | ||||||||||||
Pelican Products, Inc. | Flashlights | Second lien senior secured loan ($40.0 par due 4/2021) | 9.25% (Libor + 8.25%/Q) | 4/11/2014 | 40.0 | 38.0 | (2)(19) | ||||||||||||
Saw Mill PCG Partners LLC | Metal precision engineered components | Common units (1,000 units) | 1/30/2007 | 1.0 | — | (2) | |||||||||||||
SI Holdings, Inc. | Elastomeric parts, mid-sized composite structures, and composite tooling | Common stock (1,500 shares) | 5/30/2014 | 1.5 | 1.5 | (2) | |||||||||||||
TPTM Merger Corp. (24) | Time temperature indicator products | First lien senior secured revolving loan ($1.3 par due 9/2018) | 7.50% (Libor + 6.50%/Q) | 9/12/2013 | 1.3 | 1.3 | (2)(19) | ||||||||||||
First lien senior secured loan ($17.0 par due 9/2018) | 9.67% (Libor + 8.67%/Q) | 9/12/2013 | 17.0 | 17.0 | (3)(19) | ||||||||||||||
First lien senior secured loan ($10.0 par due 9/2018) | 9.67% (Libor + 8.67%/Q) | 9/12/2013 | 10.0 | 10.0 | (4)(19) | ||||||||||||||
28.3 | 28.3 |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
Common stock (180,000 shares) | 2/6/2020 | 1.8 | 2.6 | (2) | ||||||||||||||||||||||||||||||||||||||||
3.9 | 4.7 | |||||||||||||||||||||||||||||||||||||||||||
1,250.6 | 1,239.7 | 17.27% | ||||||||||||||||||||||||||||||||||||||||||
Investment Funds and Vehicles | ||||||||||||||||||||||||||||||||||||||||||||
ACAS Equity Holdings Corporation (5) | Investment company | Common stock (589 shares) | 1/3/2017 | 0.4 | — | (6) | ||||||||||||||||||||||||||||||||||||||
Ares IIIR/IVR CLO Ltd. | Investment vehicle | Subordinated notes ($20.0 par due 4/2021) | 1/3/2017 | — | — | (6) | ||||||||||||||||||||||||||||||||||||||
Blue Wolf Capital Fund II, L.P. (4) | Investment partnership | Limited partnership interest (8.50% interest) | 1/3/2017 | — | 0.2 | (6)(18) | ||||||||||||||||||||||||||||||||||||||
CoLTs 2005-1 Ltd. (5) | Investment vehicle | Preferred shares (360 shares) | 1/3/2017 | — | — | (6) | ||||||||||||||||||||||||||||||||||||||
CoLTs 2005-2 Ltd. (5) | Investment vehicle | Preferred shares (34,170,000 shares) | 1/3/2017 | — | — | (6) | ||||||||||||||||||||||||||||||||||||||
CREST Exeter Street Solar 2004-1 | Investment vehicle | Preferred shares (3,500,000 shares) | 1/3/2017 | — | — | (6) | ||||||||||||||||||||||||||||||||||||||
European Capital UK SME Debt LP (4) | Investment partnership | Limited partnership interest (45% interest) | 1/3/2017 | 26.6 | 29.7 | (6)(16) | ||||||||||||||||||||||||||||||||||||||
HCI Equity, LLC (5) | Investment company | Member interest (100.00% interest) | 4/1/2010 | — | 0.1 | (6)(18) | ||||||||||||||||||||||||||||||||||||||
Partnership Capital Growth Investors III, L.P. | Investment partnership | Limited partnership interest (2.50% interest) | 10/5/2011 | 2.8 | 3.4 | (6)(18) | ||||||||||||||||||||||||||||||||||||||
PCG-Ares Sidecar Investment II, L.P. (4) | Investment partnership | Limited partnership interest (100.00% interest) | 10/31/2014 | 6.9 | 10.2 | (2)(6)(16) | ||||||||||||||||||||||||||||||||||||||
PCG-Ares Sidecar Investment, L.P. (4) | Investment partnership | Limited partnership interest (100.00% interest) | 5/22/2014 | 4.8 | 0.4 | (6)(16) | ||||||||||||||||||||||||||||||||||||||
Piper Jaffray Merchant Banking Fund I, L.P. | Investment partnership | Limited partnership interest (2.00% interest) | 8/16/2012 | 1.1 | 1.3 | (6)(18) | ||||||||||||||||||||||||||||||||||||||
Senior Direct Lending Program, LLC (5)(17) | Co-investment vehicle | Subordinated certificates ($1122.9 par due 12/2036) | 8.24% (Libor + 8.00%/Q)(12) | 7/27/2016 | 1,122.9 | 1,122.9 | (6) | |||||||||||||||||||||||||||||||||||||
Member interest (87.50% interest) | 7/27/2016 | — | — | (6) | ||||||||||||||||||||||||||||||||||||||||
1,122.9 | 1,122.9 | |||||||||||||||||||||||||||||||||||||||||||
VSC Investors LLC | Investment company | Membership interest (1.95% interest) | 1/24/2008 | 0.3 | 0.5 | (2)(6)(18) | ||||||||||||||||||||||||||||||||||||||
1,165.8 | 1,168.7 | 16.29% | ||||||||||||||||||||||||||||||||||||||||||
Consumer Services | ||||||||||||||||||||||||||||||||||||||||||||
ADF Capital, Inc., ADF Restaurant Group, LLC, and ARG Restaurant Holdings, Inc. (5) | Restaurant owner and operator | First lien senior secured loan ($56.6 par due 12/2019) | 11/27/2006 | 39.9 | — | (2)(10) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($6.6 par due 12/2019) | 12/22/2016 | 4.8 | — | (2)(10) | ||||||||||||||||||||||||||||||||||||||||
Promissory note ($31.8 par due 12/2023) | 11/27/2006 | 13.8 | — | (2) | ||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 0.95 units of Series D common stock (expires 12/2023) | 12/18/2013 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||||
58.5 | — | |||||||||||||||||||||||||||||||||||||||||||
Aimbridge Acquisition Co., Inc. | Hotel operator | Second lien senior secured loan ($22.5 par due 2/2027) | 7.65% (Libor + 7.50%/M) | 2/1/2019 | 22.2 | 20.0 | (2) | |||||||||||||||||||||||||||||||||||||
American Residential Services L.L.C. and Aragorn Parent Holdings LP (15) | Heating, ventilation and air conditioning services provider | First lien senior secured revolving loan ($0.5 par due 10/2025) | 3.65% (Libor + 3.50%/M) | 10/15/2020 | 0.5 | 0.5 | (2)(14) | |||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($56.4 par due 10/2028) | 9.50% (Libor + 8.50%/Q) | 10/15/2020 | 56.4 | 55.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Series A preferred units (2,531,500 units) | 10.00% PIK | 10/15/2020 | 2.6 | 2.5 | (2) | |||||||||||||||||||||||||||||||||||||||
59.5 | 58.8 | |||||||||||||||||||||||||||||||||||||||||||
ATI Restoration, LLC (15) | Provider of disaster recovery services | First lien senior secured revolving loan | 7/31/2020 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($33.7 par due 7/2026) | 6.50% (Libor + 5.50%/Q) | 7/31/2020 | 33.7 | 33.3 | (11) | |||||||||||||||||||||||||||||||||||||||
33.7 | 33.3 | |||||||||||||||||||||||||||||||||||||||||||
ChargePoint, Inc. | Developer and operator of electric vehicle charging stations | Warrant to purchase up to 809,126 shares of Series E preferred stock (expires 12/2024) | 12/30/2014 | 0.3 | 3.0 | (2) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||
337.3 | 331.1 | 6.41% | |||||||||||||||||
Containers and Packaging | |||||||||||||||||||
Charter NEX US Holdings, Inc. | Producer of high-performance specialty films used in flexible packaging | Second lien senior secured loan ($11.8 par due 2/2023) | 9.25% (Libor + 8.25%/Q) | 2/5/2015 | 11.7 | 11.8 | (2)(19) | ||||||||||||
GS Pretium Holdings, Inc. | Manufacturer and supplier of high performance plastic containers | Common stock (500,000 shares) | 6/2/2014 | 0.5 | 0.8 | (2) | |||||||||||||
ICSH, Inc. (24) | Industrial container manufacturer, reconditioner and servicer | First lien senior secured revolving loan ($1.0 par due 12/2018) | 6.75% (Libor + 5.75%/Q) | 8/30/2011 | 1.0 | 1.0 | (2)(19)(23) | ||||||||||||
Second lien senior secured loan ($66.0 par due 12/2019) | 10.00% (Libor + 9.00%/Q) | 12/31/2015 | 66.0 | 66.0 | (2)(19) | ||||||||||||||
67.0 | 67.0 | ||||||||||||||||||
LBP Intermediate Holdings LLC (24) | Manufacturer of paper and corrugated foodservice packaging | First lien senior secured revolving loan | - | 7/10/2015 | — | — | (22) | ||||||||||||
First lien senior secured loan ($12.7 par due 7/2020) | 6.50% (Libor + 5.50%/Q) | 7/10/2015 | 12.6 | 12.7 | (3)(19) | ||||||||||||||
12.6 | 12.7 | ||||||||||||||||||
Microstar Logistics LLC, Microstar Global Asset Management LLC, and MStar Holding Corporation | Keg management solutions provider | Second lien senior secured loan ($78.5 par due 12/2018) | 8.50% (Libor + 7.50%/Q) | 12/14/2012 | 78.5 | 78.5 | (2)(19) | ||||||||||||
Second lien senior secured loan ($54.0 par due 12/2018) | 8.50% (Libor + 7.50%/Q) | 12/14/2012 | 54.0 | 54.0 | (3)(19) | ||||||||||||||
Second lien senior secured loan ($10.0 par due 12/2018) | 8.50% (Libor + 7.50%/Q) | 12/14/2012 | 10.0 | 10.0 | (4)(19) | ||||||||||||||
Common stock (50,000 shares) | 12/14/2012 | 4.0 | 8.1 | (2) | |||||||||||||||
146.5 | 150.6 | ||||||||||||||||||
238.3 | 242.9 | 4.70% | |||||||||||||||||
Food and Beverage | |||||||||||||||||||
American Seafoods Group LLC and American Seafoods Partners LLC (24) | Harvester and processor of seafood | First lien senior secured loan ($6.9 par due 8/2021) | 6.00% (Libor + 5.00%/Q) | 8/19/2015 | 6.9 | 6.9 | (2)(19) | ||||||||||||
First lien senior secured loan ($0.1 par due 8/2021) | 7.75% (Base Rate + 4.00%/Q) | 8/19/2015 | 0.1 | 0.1 | (2)(19) | ||||||||||||||
Second lien senior secured loan ($55.0 par due 2/2022) | 10.00% (Libor + 9.00%/Q) | 8/19/2015 | 55.0 | 55.0 | (2)(19) | ||||||||||||||
Class A units (77,922 units) | 8/19/2015 | 0.1 | 0.1 | (2) | |||||||||||||||
Warrant to purchase up to 7,422,078 Class A units (expires 8/2035) | 8/19/2015 | 7.4 | 7.8 | (2) | |||||||||||||||
69.5 | 69.9 | ||||||||||||||||||
Eagle Family Foods Group LLC | Manufacturer and producer of milk products | First lien senior secured loan ($21.6 par due 12/2021) | 10.05% (Libor + 9.05%/Q) | 8/22/2016 | 21.6 | 21.6 | (3)(19) | ||||||||||||
First lien senior secured loan ($54.8 par due 12/2021) | 10.05% (Libor + 9.05%/Q) | 12/31/2015 | 54.4 | 54.8 | (3)(19) | ||||||||||||||
76.0 | 76.4 | ||||||||||||||||||
GF Parent LLC | Producer of low-acid, aseptic food and beverage products | Class A preferred units (2,940 units) | 5/13/2015 | 2.9 | 1.4 | (2) | |||||||||||||
Class A common units (60,000 units) | 5/13/2015 | 0.1 | — | (2) | |||||||||||||||
3.0 | 1.4 | ||||||||||||||||||
JWC/KI Holdings, LLC | Foodservice sales and marketing agency | Membership units (5,000 units) | 11/16/2015 | 5.0 | 6.2 | (2) | |||||||||||||
Kettle Cuisine, LLC | Manufacturer of fresh refrigerated and frozen food products | Second lien senior secured loan ($28.5 par due 2/2022) | 10.75% (Libor + 9.75%/Q) | 8/21/2015 | 28.5 | 28.5 | (2)(19) | ||||||||||||
RF HP SCF Investor, LLC | Branded specialty food company | Membership interest (10.08% interest) | 12/22/2016 | 12.5 | 12.8 | (2) | |||||||||||||
194.5 | 195.2 | 3.78% | |||||||||||||||||
Education |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
Cipriani USA, Inc. (15) | Manager and operator of banquet facilities, restaurants, hotels and other leisure properties | First lien senior secured loan ($12.6 par due 5/2023) | 11.75% (Libor + 10.75%/M) | 12/22/2020 | 12.6 | 11.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($68.2 par due 5/2023) | 11.75% (Libor + 10.75%/M) | 5/30/2018 | 66.8 | 60.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($12.2 par due 5/2023) | 11.75% (Libor + 10.75%/M) | 11/5/2018 | 12.2 | 10.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($15.0 par due 5/2023) | 11.75% (Libor + 10.75%/M) | 7/3/2019 | 14.7 | 13.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($20.0 par due 5/2023) | 11.75% (Libor + 10.75%/M) | 12/27/2019 | 18.2 | 17.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($3.0 par due 5/2023) | 11.75% (Libor + 10.75%/M) | 8/20/2018 | 3.0 | 2.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($3.0 par due 5/2023) | 11.75% (Libor + 10.75%/M) | 11/5/2018 | 3.0 | 2.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($4.9 par due 5/2023) | 11.75% (Libor + 10.75%/M) | 6/30/2020 | 4.9 | 4.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
135.4 | 122.3 | |||||||||||||||||||||||||||||||||||||||||||
Concert Golf Partners Holdco LLC (15) | Golf club owner and operator | First lien senior secured loan ($18.2 par due 8/2025) | 5.50% (Libor + 4.50%/Q) | 8/20/2019 | 18.2 | 18.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($2.2 par due 8/2025) | 5.50% (Libor + 4.50%/Q) | 8/20/2019 | 2.2 | 2.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
20.4 | 20.4 | |||||||||||||||||||||||||||||||||||||||||||
Essential Services Holding Corporation and OMERS Mahomes Investment Holdings LLC (15) | Provider of plumbing and HVAC services | First lien senior secured revolving loan | 11/16/2020 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($115.8 par due 11/2026) | 6.75% (Libor + 5.75%/Q) | 11/16/2020 | 115.8 | 114.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($33.0 par due 11/2026) | 6.75% (Libor + 5.75%/Q) | 11/16/2020 | 33.0 | 32.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A units (5,803.43 units) | 11/16/2020 | 19.6 | 19.6 | (2) | ||||||||||||||||||||||||||||||||||||||||
168.4 | 166.9 | |||||||||||||||||||||||||||||||||||||||||||
FWR Holding Corporation (15) | Restaurant owner, operator, and franchisor | First lien senior secured revolving loan | 8/21/2017 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($4.0 par due 8/2023) | 8.00% (Libor + 5.50% Cash, 1.50% PIK/Q) | 8/21/2017 | 4.0 | 3.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.5 par due 8/2023) | 8.00% (Libor + 5.50% Cash, 1.50% PIK/Q) | 8/21/2017 | 0.5 | 0.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.5 par due 8/2023) | 8.00% (Libor + 5.50% Cash, 1.50% PIK/Q) | 2/28/2019 | 0.5 | 0.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.8 par due 8/2023) | 8.00% (Libor + 5.50% Cash, 1.50% PIK/Q) | 2/28/2019 | 0.8 | 0.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.5 par due 8/2023) | 8.00% (Libor + 5.50% Cash, 1.50% PIK/Q) | 2/28/2019 | 0.5 | 0.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.7 par due 8/2023) | 8.00% (Libor + 5.50% Cash, 1.50% PIK/Q) | 2/28/2019 | 0.7 | 0.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.8 par due 8/2023) | 8.00% (Libor + 5.50% Cash, 1.50% PIK/Q) | 12/20/2019 | 1.8 | 1.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
8.8 | 8.3 | |||||||||||||||||||||||||||||||||||||||||||
Garden Fresh Restaurant Corp. and GFRC Holdings LLC (15) | Restaurant owner and operator | First lien senior secured revolving loan ($6.9 par due 2/2022) | 2/1/2017 | 6.3 | — | (2)(10) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($19.6 par due 2/2022) | 2/1/2017 | 17.9 | — | (2)(10) | ||||||||||||||||||||||||||||||||||||||||
24.2 | — | |||||||||||||||||||||||||||||||||||||||||||
Jenny C Acquisition, Inc. | Health club franchisor | Senior subordinated loan ($1.3 par due 4/2025) | 8.00% PIK | 4/5/2019 | 1.3 | 1.3 | (2) | |||||||||||||||||||||||||||||||||||||
Jim N Nicks Management, LLC (15) | Restaurant owner and operator | First lien senior secured revolving loan ($4.9 par due 7/2023) | 6.25% (Libor + 5.25%/Q) | 7/10/2017 | 4.9 | 4.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($13.7 par due 7/2023) | 6.25% (Libor + 5.25%/Q) | 7/10/2017 | 13.7 | 12.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.1 par due 7/2023) | 6.25% (Libor + 5.25%/Q) | 7/10/2017 | 1.1 | 1.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
19.7 | 17.9 |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||
Campus Management Acquisition Corp. (7) | Education software developer | Preferred stock (485,159 shares) | 2/8/2008 | 10.5 | 10.4 | (2) | |||||||||||||
Infilaw Holding, LLC (24) | Operator of for-profit law schools | First lien senior secured revolving loan ($6.0 par due 2/2018) | 8/25/2011 | 6.0 | 6.0 | (2)(18)(23) | |||||||||||||
Series A preferred units (1.25 units) | 8/25/2011 | 125.5 | 1.3 | (2)(18) | |||||||||||||||
Series A-1 preferred units (0.03 units) | 7/29/2016 | 2.5 | 2.5 | (2) | |||||||||||||||
Series B preferred units (0.39 units) | 10/19/2012 | 9.2 | — | (2) | |||||||||||||||
143.2 | 9.8 | ||||||||||||||||||
Instituto de Banca y Comercio, Inc. & Leeds IV Advisors, Inc. | Private School Operator | First lien senior secured loan ($2.9 par due 12/2018) | 10.50% PIK (Libor + 9.00%/Q) | 10/31/2015 | 2.9 | 2.9 | (2)(19) | ||||||||||||
Series B preferred stock (1,750,000 shares) | 8/5/2010 | 5.0 | — | (2) | |||||||||||||||
Series C preferred stock (2,512,586 shares) | 6/7/2010 | 0.7 | — | (2) | |||||||||||||||
Senior preferred series A-1 shares (163,902 shares) | 10/31/2015 | 119.4 | 47.8 | (2) | |||||||||||||||
Common stock (20 shares) | 6/7/2010 | — | — | (2) | |||||||||||||||
128.0 | 50.7 | ||||||||||||||||||
Lakeland Tours, LLC (24) | Educational travel provider | First lien senior secured revolving loan | - | 2/10/2016 | — | — | (22) | ||||||||||||
First lien senior secured loan ($5.0 par due 2/2022) | 5.75% (Libor + 4.75%/Q) | 2/10/2016 | 5.0 | 5.0 | (2)(19) | ||||||||||||||
First lien senior secured loan ($31.7 par due 2/2022) | 10.43% (Libor + 9.43%/Q) | 2/10/2016 | 31.3 | 31.7 | (3)(19) | ||||||||||||||
36.3 | 36.7 | ||||||||||||||||||
PIH Corporation (24) | Franchisor of education-based early childhood centers | First lien senior secured revolving loan ($0.6 par due 12/2018) | 7.00% (Libor + 6.00%/Q) | 12/13/2013 | 0.6 | 0.6 | (2)(19) | ||||||||||||
R3 Education Inc., Equinox EIC Partners LLC and Sierra Education Finance Corp. | Medical school operator | Preferred stock (1,977 shares) | 7/30/2008 | 0.5 | 0.5 | (2) | |||||||||||||
Common membership interest (15.76% interest) | 9/21/2007 | 15.8 | 32.4 | (2) | |||||||||||||||
Warrant to purchase up to 27,890 shares (expires 11/2019) | 12/8/2009 | — | — | (2) | |||||||||||||||
16.3 | 32.9 | ||||||||||||||||||
Regent Education, Inc. | Provider of software solutions designed to optimize the financial aid and enrollment processes | First lien senior secured loan ($3.8 par due 1/2021) | 12.00% (Libor + 8.00% Cash, 2.00% PIK/M) | 7/1/2014 | 3.7 | 3.8 | (2)(19) | ||||||||||||
First lien senior secured loan ($0.1 par due 1/2021) | 7/1/2014 | 0.1 | 0.1 | (2) | |||||||||||||||
Warrant to purchase up to 987 shares of common stock (expires 12/2026) | 12/23/2016 | — | — | (2) | |||||||||||||||
Warrant to purchase up to 5,393,194 shares of common stock (expires 12/2026) | 12/23/2016 | — | 0.1 | (2) | |||||||||||||||
3.8 | 4.0 | ||||||||||||||||||
RuffaloCODY, LLC (24) | Provider of student fundraising and enrollment management services | First lien senior secured revolving loan | 5/29/2013 | — | — | (23) | |||||||||||||
Severin Acquisition, LLC | Provider of student information system software solutions to the K-12 education market | Second lien senior secured loan ($15.0 par due 7/2022) | 9.75% (Libor + 8.75%/Q) | 7/31/2015 | 14.8 | 15.0 | (2)(19) | ||||||||||||
Second lien senior secured loan ($4.2 par due 7/2022) | 9.75% (Libor + 8.75%/Q) | 10/28/2015 | 4.1 | 4.2 | (2)(19) | ||||||||||||||
Second lien senior secured loan ($3.3 par due 7/2022) | 10.25% (Libor + 9.25%/Q) | 2/1/2016 | 3.2 | 3.3 | (2)(19) | ||||||||||||||
Second lien senior secured loan ($2.8 par due 7/2022) | 10.25% (Libor + 9.25%/Q) | 8/8/2016 | 2.8 | 2.8 | (2)(19) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
ME Equity LLC | Franchisor in the massage industry | Common stock (3,000,000 shares) | 9/27/2012 | 3.0 | 2.2 | (2) | ||||||||||||||||||||||||||||||||||||||
Movati Athletic (Group) Inc. (15) | Premier health club operator | First lien senior secured loan ($2.9 par due 10/2022) | 7.50% (CDOR + 5.50% Cash, 0.50% PIK/Q) | 10/5/2017 | 3.0 | 2.7 | (2)(6)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($2.1 par due 10/2022) | 7.50% (CDOR + 5.50% Cash, 0.50% PIK/Q) | 10/5/2017 | 2.0 | 1.9 | (2)(6)(11) | |||||||||||||||||||||||||||||||||||||||
5.0 | 4.6 | |||||||||||||||||||||||||||||||||||||||||||
OTG Management, LLC (15) | Airport restaurant operator | First lien senior secured revolving loan ($10.1 par due 8/2021) | 10.00% (Libor + 7.00% Cash, 2.00% PIK/Q) | 8/26/2016 | 10.1 | 8.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($5.4 par due 8/2021) | 10.00% (Libor + 7.00% Cash, 2.00% PIK/Q) | 10/7/2020 | 5.4 | 4.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($23.8 par due 8/2021) | 10.00% (Libor + 7.00% Cash, 2.00% PIK/Q) | 8/26/2016 | 23.8 | 20.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($98.5 par due 8/2021) | 10.00% (Libor + 7.00% Cash, 2.00% PIK/Q) | 8/26/2016 | 98.5 | 84.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($9.7 par due 8/2021) | 10.00% (Libor + 7.00% Cash, 2.00% PIK/Q) | 10/10/2018 | 9.7 | 8.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($16.1 par due 8/2021) | 10.00% (Libor + 7.00% Cash, 2.00% PIK/Q) | 10/7/2020 | 16.1 | 13.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Senior subordinated loan ($38.6 par due 2/2022) | 8/26/2016 | 36.1 | 29.0 | (2)(10) | ||||||||||||||||||||||||||||||||||||||||
Class A preferred units (3,000,000 units) | 8/26/2016 | 38.3 | — | |||||||||||||||||||||||||||||||||||||||||
Common units (3,000,000 units) | 1/5/2011 | 3.0 | — | |||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 7.73% of common units | 6/19/2008 | 0.1 | — | |||||||||||||||||||||||||||||||||||||||||
241.1 | 169.6 | |||||||||||||||||||||||||||||||||||||||||||
Portillo's Holdings, LLC | Fast casual restaurant brand | Second lien senior secured loan ($34.0 par due 12/2024) | 10.75% (Libor + 9.50%/Q) | 11/27/2019 | 33.2 | 34.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Pyramid Management Advisors, LLC and Pyramid Investors, LLC (15) | Hotel operator | First lien senior secured revolving loan ($9.5 par due 7/2023) | 8.00% (Libor + 5.75% Cash, 1.25% PIK/Q) | 4/12/2018 | 9.5 | 8.5 | (2)(11)(14) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($16.8 par due 7/2023) | 8.00% (Libor + 5.75% Cash, 1.25% PIK/Q) | 4/12/2018 | 16.8 | 15.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.4 par due 7/2023) | 8.00% (Libor + 5.75% Cash, 1.25% PIK/Q) | 4/12/2018 | 1.4 | 1.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($6.3 par due 7/2023) | 8.00% (Libor + 5.75% Cash, 1.25% PIK/Q) | 12/27/2019 | 6.3 | 5.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Preferred membership units (996,833 units) | 7/15/2016 | 1.0 | 0.3 | |||||||||||||||||||||||||||||||||||||||||
35.0 | 30.9 | |||||||||||||||||||||||||||||||||||||||||||
Redwood Services, LLC and Redwood Services Holdco, LLC (15) | Provider of residential HVAC and plumbing services | First lien senior secured loan ($5.4 par due 12/2025) | 8.00% (Libor + 7.00%/Q) | 12/31/2020 | 5.4 | 5.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Series D units (5,291,723 units) | 8.00% PIK | 12/31/2020 | 5.3 | 5.3 | ||||||||||||||||||||||||||||||||||||||||
10.7 | 10.6 | |||||||||||||||||||||||||||||||||||||||||||
Safe Home Security, Inc., Security Systems Inc., Safe Home Monitoring, Inc., National Protective Services, Inc., Bright Integrations LLC and Medguard Alert, Inc. (15) | Provider of safety systems for business and residential customers | First lien senior secured loan ($45.3 par due 8/2024) | 8.25% (Libor + 7.25%/M) | 8/4/2020 | 45.3 | 44.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||
SERV 2020-1 | Provider of restoration and cleaning services to commercial and residential customers | First lien senior secured loan ($0.0 par due 1/2051) | 3.34% | 12/9/2020 | — | — | (2) | |||||||||||||||||||||||||||||||||||||
Spectra Finance, LLC (15) | Venue management and food and beverage provider | First lien senior secured revolving loan ($15.2 par due 4/2023) | 6.75% (Libor + 5.00% Cash, 0.75% PIK/M) | 4/2/2018 | 15.2 | 14.0 | (2)(11)(14) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($3.2 par due 4/2024) | 6.75% (Libor + 5.00% Cash, 0.75% PIK/Q) | 4/2/2018 | 3.2 | 2.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
18.4 | 16.9 |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||
Second lien senior secured loan ($3.1 par due 7/2022) | 10.00% (Libor + 9.00%/Q) | 10/14/2016 | 3.1 | 3.1 | (2)(19) | ||||||||||||||
28.0 | 28.4 | ||||||||||||||||||
WCI-Quantum Holdings, Inc. | Distributor of instructional products, services and resources | Series A preferred stock (1,272 shares) | 10/24/2014 | 1.0 | 1.3 | (2) | |||||||||||||
367.7 | 174.8 | 3.38 | % | ||||||||||||||||
Automotive Services | |||||||||||||||||||
AEP Holdings, Inc. and Arrowhead Holdco Company | Distributor of non-discretionary, mission-critical aftermarket replacement parts | First lien senior secured loan ($1.9 par due 8/2021) | 7.75% (Libor + 6.75%/Q) | 12/14/2016 | 1.9 | 1.9 | (2)(19) | ||||||||||||
Common stock (3,467 shares) | 8/31/2015 | 3.5 | 3.8 | (2) | |||||||||||||||
5.4 | 5.7 | ||||||||||||||||||
CH Hold Corp. (24) | Collision repair company | First lien senior secured revolving loan ($1.2 par due 11/2019) | 8.00% (Base Rate + 4.25%/Q) | 2/24/2016 | 1.2 | 1.2 | (2)(19)(23) | ||||||||||||
ChargePoint, Inc. | Developer and operator of electric vehicle charging stations | Second lien senior secured loan ($20.0 par due 8/2020) | 9.75% (Libor + 8.75%/M) | 12/24/2014 | 19.5 | 20.0 | (2)(19) | ||||||||||||
Warrant to purchase up to 809,126 shares of Series E preferred stock (expires 12/2024) | 12/24/2014 | 0.3 | 1.5 | (2) | |||||||||||||||
19.8 | 21.5 | ||||||||||||||||||
Dent Wizard International Corporation and DWH Equity Investors, L.P. | Automotive reconditioning services | Second lien senior secured loan ($50.0 par due 10/2020) | 10.25% (Libor + 9.25%/Q) | 4/7/2015 | 50.0 | 50.0 | (3)(19) | ||||||||||||
Class A common stock (10,000 shares) | 4/7/2015 | 0.3 | 0.7 | (2) | |||||||||||||||
Class B common stock (20,000 shares) | 4/7/2015 | 0.7 | 1.3 | (2) | |||||||||||||||
51.0 | 52.0 | ||||||||||||||||||
Eckler Industries, Inc. (24) | Restoration parts and accessories provider for classic automobiles | First lien senior secured revolving loan ($2.0 par due 7/2017) | 8.75% (Base Rate + 5.00%/Q) | 7/12/2012 | 2.0 | 1.9 | (2)(19) | ||||||||||||
First lien senior secured loan ($6.9 par due 7/2017) | 7.25% (Libor + 6.00%/Q) | 7/12/2012 | 6.9 | 6.7 | (3)(19) | ||||||||||||||
First lien senior secured loan ($25.9 par due 7/2017) | 7.25% (Libor + 6.00%/Q) | 7/12/2012 | 25.9 | 25.2 | (3)(19) | ||||||||||||||
Series A preferred stock (1,800 shares) | 7/12/2012 | 1.8 | — | (2) | |||||||||||||||
Common stock (20,000 shares) | 7/12/2012 | 0.2 | — | (2) | |||||||||||||||
36.8 | 33.8 | ||||||||||||||||||
EcoMotors, Inc. | Engine developer | First lien senior secured loan ($9.8 par due 3/2018) | 11.00% | 9/1/2015 | 9.5 | 7.9 | (2) | ||||||||||||
Warrant to purchase up to 321,888 shares of Series C preferred stock (expires 12/2022) | 12/28/2012 | — | — | (2) | |||||||||||||||
Warrant to purchase up to 70,000 shares of Series C preferred stock (expires 2/2025) | 2/24/2015 | — | — | (2) | |||||||||||||||
9.5 | 7.9 | ||||||||||||||||||
ESCP PPG Holdings, LLC (7) | Distributor of new equipment and aftermarket parts to the heavy-duty truck industry | Class A units (3,500,000 units) | 12/14/2016 | 3.5 | 3.7 | (2) | |||||||||||||
Simpson Performance Products, Inc. | Provider of motorsports safety equipment | First lien senior secured loan ($18.5 par due 2/2020) | 9.70% (Libor + 8.70%/Q) | 2/20/2015 | 18.5 | 18.5 | (3)(19) | ||||||||||||
SK SPV IV, LLC | Collision repair site operators | Series A common stock (12,500 units) | 8/18/2014 | 0.6 | 2.9 | (2) | |||||||||||||
Series B common stock (12,500 units) | 8/18/2014 | 0.6 | 2.9 | (2) | |||||||||||||||
1.2 | 5.8 | ||||||||||||||||||
TA THI Parent, Inc. | Collision repair company | Series A preferred stock (50,000 shares) | 7/28/2014 | 5.0 | 14.3 | (2) | |||||||||||||
151.9 | 164.4 | 3.18% |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
Spin HoldCo Inc. and Airvending Limited | Laundry service and equipment provider | First lien senior secured loan ($15.6 par due 11/2022) | 7.00% (Libor + 6.00%/Q) | 5/15/2020 | 15.6 | 15.6 | (6)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($11.0 par due 11/2022) | 7.00% (Libor + 6.00%/Q) | 5/15/2020 | 11.0 | 11.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($154.2 par due 5/2023) | 8.50% (Libor + 7.50%/Q) | 5/14/2013 | 154.2 | 152.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
180.8 | 179.2 | |||||||||||||||||||||||||||||||||||||||||||
Taymax Group, L.P., Taymax Group G.P., LLC, PF Salem Canada ULC and TCP Fit Parent, L.P. (15) | Planet Fitness franchisee | First lien senior secured revolving loan ($1.3 par due 7/2024) | 5.75% (Libor + 4.75%/Q) | 7/31/2018 | 1.3 | 1.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.3 par due 7/2025) | 5.75% (Libor + 4.75%/Q) | 3/5/2020 | 0.3 | 0.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.6 par due 7/2025) | 5.75% (Libor + 4.75%/Q) | 3/5/2020 | 0.6 | 0.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A units (37,020 units) | 7/31/2018 | 3.8 | 0.8 | |||||||||||||||||||||||||||||||||||||||||
6.0 | 2.9 | |||||||||||||||||||||||||||||||||||||||||||
The Alaska Club Partners, LLC, Athletic Club Partners LLC and The Alaska Club, Inc. (15) | Premier health club operator | First lien senior secured loan ($15.4 par due 12/2024) | 10.25% (Libor + 5.00% Cash, 2.00% PIK/Q) | 12/16/2019 | 15.4 | 13.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||
WASH Multifamily Acquisition Inc. and Coinamatic Canada Inc. | Laundry service and equipment provider | First lien senior secured loan ($110.5 par due 5/2022) | 5.75% (Libor + 4.75%/M) | 8/1/2019 | 110.5 | 110.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($22.0 par due 5/2023) | 8.00% (Libor + 7.00%/M) | 5/14/2015 | 21.7 | 21.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($3.8 par due 5/2023) | 8.00% (Libor + 7.00%/M) | 5/14/2015 | 3.8 | 3.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
136.0 | 135.8 | |||||||||||||||||||||||||||||||||||||||||||
1,282.3 | 1,097.5 | 15.29% | ||||||||||||||||||||||||||||||||||||||||||
Consumer Durables & Apparel | ||||||||||||||||||||||||||||||||||||||||||||
Badger Sportswear Acquisition, Inc. | Provider of team uniforms and athletic wear | Second lien senior secured loan ($56.8 par due 3/2024) | 11.00% (Libor + 9.75%/Q) | 9/6/2016 | 56.8 | 50.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Bowhunter Holdings, LLC | Provider of branded archery and bowhunting accessories | Common units (421 units) | 4/24/2014 | 4.2 | — | |||||||||||||||||||||||||||||||||||||||
Centric Brands LLC (15) | Designer, marketer and distributor of licensed and owned apparel | First lien senior secured revolving loan ($3.0 par due 10/2024) | 6.50% (Libor + 5.50%/Q) | 5/20/2020 | 3.0 | 3.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($60.2 par due 10/2025) | 11.00% (Libor + 10.00% PIK/Q) | 10/29/2018 | 60.2 | 54.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Membership interests (273,609 units) | 10/29/2018 | 2.9 | 3.1 | (2) | ||||||||||||||||||||||||||||||||||||||||
66.1 | 60.2 | |||||||||||||||||||||||||||||||||||||||||||
DRS Holdings III, Inc. and DRS Holdings I, Inc. (15) | Footwear and orthopedic foot-care brand | First lien senior secured loan ($30.1 par due 11/2025) | 6.75% (Libor + 5.75%/Q) | 11/1/2019 | 30.1 | 29.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Common stock (8,549 shares) | 11/1/2019 | 8.5 | 4.9 | (2) | ||||||||||||||||||||||||||||||||||||||||
38.6 | 34.4 | |||||||||||||||||||||||||||||||||||||||||||
GSM Acquisition Corp. (15) | Manufacturer of outdoor products | First lien senior secured loan ($1.8 par due 11/2026) | 6.00% (Libor + 5.00%/Q) | 11/16/2020 | 1.8 | 1.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($26.0 par due 11/2026) | 6.00% (Libor + 5.00%/Q) | 11/16/2020 | 26.0 | 25.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
27.8 | 27.4 | |||||||||||||||||||||||||||||||||||||||||||
Implus Footcare, LLC | Provider of footwear and other accessories | First lien senior secured loan ($104.4 par due 4/2024) | 8.75% (Libor + 2.50% Cash, 5.25% PIK/Q) | 6/1/2017 | 104.4 | 89.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($14.3 par due 4/2024) | 8.75% (Libor + 2.50% Cash, 5.25% PIK/Q) | 6/1/2017 | 14.3 | 12.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.3 par due 4/2024) | 8.75% (Libor + 2.50% Cash, 5.25% PIK/Q) | 6/30/2016 | 1.3 | 1.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($5.1 par due 4/2024) | 8.75% (Libor + 2.50% Cash, 5.25% PIK/Q) | 7/17/2018 | 5.1 | 4.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
125.1 | 107.6 | |||||||||||||||||||||||||||||||||||||||||||
Pelican Products, Inc. | Flashlights manufacturer | Second lien senior secured loan ($27.3 par due 5/2026) | 8.75% (Libor + 7.75%/Q) | 5/14/2018 | 27.2 | 27.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Rawlings Sporting Goods Company, Inc. and Easton Diamond Sports, LLC | Sports equipment manufacturing company | First lien senior secured loan ($93.6 par due 12/2026) | 8.50% (Libor + 7.50%/M) | 12/31/2020 | 93.6 | 92.7 | (2)(11) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||
Oil and Gas | |||||||||||||||||||
Lonestar Prospects, Ltd. | Sand proppant producer and distributor to the oil and natural gas industry | First lien senior secured loan ($70.1 par due 9/2018) | 8.50% (Libor + 6.50% Cash, 1.00% PIK/Q) | 9/18/2014 | 70.1 | 70.1 | (3)(19) | ||||||||||||
Petroflow Energy Corporation and TexOak Petro Holdings LLC (7) | Oil and gas exploration and production company | First lien senior secured loan ($16.5 par due 6/2019) | 3.00% (Libor + 2.00%/Q) | 6/29/2016 | 16.1 | 15.0 | (2)(19) | ||||||||||||
Second lien senior secured loan ($22.6 par due 12/2019) | 6/29/2016 | 21.8 | 6.6 | (2)(18) | |||||||||||||||
Common units (202,000 units) | 6/29/2016 | 11.1 | — | ||||||||||||||||
49.0 | 21.6 | ||||||||||||||||||
119.1 | 91.7 | 1.78% | |||||||||||||||||
Commercial Real Estate Finance | |||||||||||||||||||
10th Street, LLC and New 10th Street, LLC (8) | Real estate holding company | First lien senior secured loan ($25.6 par due 11/2019) | 12.00% Cash, 1.00% PIK | 3/31/2014 | 25.6 | 25.6 | (2) | ||||||||||||
Senior subordinated loan ($27.5 par due 11/2019) | 12.00% Cash, 1.00% PIK | 4/1/2010 | 27.5 | 27.5 | (2) | ||||||||||||||
Member interest (10.00% interest) | 4/1/2010 | 0.6 | — | ||||||||||||||||
Option (25,000 units) | 4/1/2010 | — | 35.3 | ||||||||||||||||
53.7 | 88.4 | ||||||||||||||||||
53.7 | 88.4 | 1.71% | |||||||||||||||||
Aerospace and Defense | |||||||||||||||||||
Cadence Aerospace, LLC | Aerospace precision components manufacturer | First lien senior secured loan ($4.0 par due 5/2018) | 7.00% (Libor + 5.75%/Q) | 5/15/2012 | 4.0 | 4.0 | (4)(19) | ||||||||||||
Second lien senior secured loan ($79.7 par due 5/2019) | 11.00% (Libor + 9.75%/Q) | 5/10/2012 | 79.7 | 77.3 | (2)(19) | ||||||||||||||
83.7 | 81.3 | ||||||||||||||||||
83.7 | 81.3 | 1.57% | |||||||||||||||||
Environmental Services | |||||||||||||||||||
MPH Energy Holdings, LP | Operator of municipal recycling facilities | Limited partnership interest (3.13% interest) | 1/8/2014 | — | — | (2) | |||||||||||||
Pegasus Community Energy, LLC | Operator of municipal recycling facilities | Preferred stock (1,000 shares) | 3/1/2011 | 8.8 | — | (2) | |||||||||||||
Waste Pro USA, Inc | Waste management services | Second lien senior secured loan ($75.9 par due 10/2020) | 8.50% (Libor + 7.50%/Q) | 10/15/2014 | 75.9 | 75.9 | (3)(19) | ||||||||||||
84.7 | 75.9 | 1.47% | |||||||||||||||||
Chemicals | |||||||||||||||||||
Genomatica, Inc. | Developer of a biotechnology platform for the production of chemical products | Warrant to purchase 322,422 shares of Series D preferred stock (expires 3/2023) | 3/28/2013 | — | — | (2) | |||||||||||||
K2 Pure Solutions Nocal, L.P. (24) | Chemical Producer | First lien senior secured revolving loan ($1.5 par due 2/2021) | 8.125% (Libor + 7.125%/Q) | 8/19/2013 | 1.5 | 1.5 | (2)(19) | ||||||||||||
First lien senior secured loan ($40.0 par due 2/2021) | 7.00% (Libor + 6.00%/Q) | 8/19/2013 | 40.0 | 40.0 | (3)(19) | ||||||||||||||
First lien senior secured loan ($13.0 par due 2/2021) | 7.00% (Libor + 6.00%/Q) | 8/19/2013 | 13.0 | 13.0 | (4)(19) | ||||||||||||||
54.5 | 54.5 | ||||||||||||||||||
Kinestral Technologies, Inc. | Designer of adaptive, dynamic glass for the commercial and residential markets | First lien senior secured loan ($8.5 par due 10/2018) | 8.75% (Libor + 7.75%/M) | 4/22/2014 | 8.4 | 8.5 | (2)(17)(19) | ||||||||||||
Warrant to purchase up to 325,000 shares of Series A preferred stock (expires 4/2024) | 4/22/2014 | 0.1 | 0.2 | (2) | |||||||||||||||
Warrant to purchase up to 131,883 shares of Series B preferred stock (expires 4/2025) | 4/9/2015 | — | — | (2) | |||||||||||||||
8.5 | 8.7 | ||||||||||||||||||
63.0 | 63.2 | 1.22% | |||||||||||||||||
Health Clubs |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
Reef Lifestyle, LLC (15) | Apparel retailer | First lien senior secured revolving loan ($8.3 par due 10/2024) | 11.00% (Libor + 5.75% Cash, 4.25% PIK/M) | 10/26/2018 | 8.3 | 6.8 | (2)(11)(14) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($25.8 par due 10/2024) | 11.00% (Libor + 5.75% Cash, 4.25% PIK/Q) | 10/26/2018 | 25.8 | 21.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.4 par due 10/2024) | 11.00% (Libor + 5.75% Cash, 4.25% PIK/Q) | 7/31/2020 | 0.4 | 0.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.3 par due 10/2024) | 11.00% (Libor + 5.75% Cash, 4.25% PIK/M) | 7/31/2020 | 0.3 | 0.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
34.8 | 28.5 | |||||||||||||||||||||||||||||||||||||||||||
S Toys Holdings LLC (fka The Step2 Company, LLC) (5) | Toy manufacturer | Class B common units (126,278,000 units) | 10/30/2014 | — | 0.3 | |||||||||||||||||||||||||||||||||||||||
Common units (1,116,879 units) | 4/1/2011 | — | — | |||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 3,157,895 units | 4/1/2010 | — | — | |||||||||||||||||||||||||||||||||||||||||
— | 0.3 | |||||||||||||||||||||||||||||||||||||||||||
SHO Holding I Corporation | Manufacturer and distributor of slip resistant footwear | Second lien senior secured loan ($105.1 par due 10/2024) | 10.29% PIK (Libor + 9.29%/Q) | 10/27/2015 | 104.1 | 83.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Shock Doctor, Inc. and Shock Doctor Holdings, LLC (4)(15) | Developer, marketer and distributor of sports protection equipment and accessories | First lien senior secured revolving loan ($1.6 par due 5/2024) | 7.00% (Base Rate + 3.75%/M) | 5/21/2019 | 1.6 | 1.5 | (2)(11)(14) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($19.4 par due 5/2024) | 5.75% (Libor + 4.75%/Q) | 5/21/2019 | 19.3 | 18.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A preferred units (50,000 units) | 3/14/2014 | 5.0 | — | (2) | ||||||||||||||||||||||||||||||||||||||||
Class C preferred units (50,000 units) | 4/22/2015 | 5.0 | — | (2) | ||||||||||||||||||||||||||||||||||||||||
Preferred units (14,591 units) | 5/14/2019 | 1.6 | — | (2) | ||||||||||||||||||||||||||||||||||||||||
32.5 | 19.5 | |||||||||||||||||||||||||||||||||||||||||||
Singer Sewing Company, SVP-Singer Holdings, LLC and SVP-Singer Holdings LP (5)(15) | Manufacturer of consumer sewing machines | First lien senior secured revolving loan | 7/26/2017 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($234.2 par due 2/2026) | 10.00% (Libor + 9.00%/Q) | 11/12/2020 | 222.5 | 234.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A common units (6,264,706 units) | 7/26/2017 | — | 74.1 | (2) | ||||||||||||||||||||||||||||||||||||||||
222.5 | 308.3 | |||||||||||||||||||||||||||||||||||||||||||
Totes Isotoner Corporation and Totes Ultimate Holdco, Inc. (4) | Designer, marketer, and distributor of rain and cold weather products | First lien senior secured loan ($2.2 par due 12/2024) | 7.00% (Libor + 6.00%/Q) | 12/23/2019 | 2.2 | 1.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.6 par due 6/2024) | 5.00% (Libor + 4.00%/Q) | 12/23/2019 | 1.6 | 1.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Common stock (861,000 shares) | 12/23/2019 | 6.0 | 2.0 | (2) | ||||||||||||||||||||||||||||||||||||||||
9.8 | 5.5 | |||||||||||||||||||||||||||||||||||||||||||
Varsity Brands Holding Co., Inc. and BCPE Hercules Holdings, LP | Leading manufacturer and distributor of textiles, apparel & luxury goods | Second lien senior secured loan ($21.1 par due 12/2025) | 9.25% (Libor + 8.25%/M) | 7/30/2018 | 21.1 | 19.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($122.7 par due 12/2025) | 9.25% (Libor + 8.25%/M) | 12/15/2017 | 122.7 | 110.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A units (1,400 units) | 7/30/2018 | 1.4 | 0.5 | (2) | ||||||||||||||||||||||||||||||||||||||||
145.2 | 130.0 | |||||||||||||||||||||||||||||||||||||||||||
988.3 | 974.5 | 13.58% | ||||||||||||||||||||||||||||||||||||||||||
Diversified Financials | ||||||||||||||||||||||||||||||||||||||||||||
Commercial Credit Group, Inc. | Commercial equipment finance and leasing company | Senior subordinated loan ($8.5 par due 8/2022) | 11.00% (Libor + 9.75%/M) | 5/10/2012 | 8.5 | 8.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||
DFC Global Facility Borrower III LLC (15) | Non-bank provider of alternative financial services | First lien senior secured revolving loan ($114.4 par due 9/2024) | 11.75% (Libor + 10.75%/M) | 8/9/2019 | 114.4 | 114.4 | (2)(6)(11) | |||||||||||||||||||||||||||||||||||||
eCapital Finance Corp. | Consolidator of commercial finance businesses | Senior subordinated loan ($36.5 par due 1/2025) | 10.00% (Libor + 8.50%/M) | 1/31/2020 | 36.5 | 36.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Senior subordinated loan ($43.0 par due 1/2025) | 10.00% (Libor + 8.50%/M) | 1/31/2020 | 43.0 | 43.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Senior subordinated loan ($7.7 par due 1/2025) | 10.00% (Libor + 8.50%/Q) | 11/24/2020 | 7.7 | 7.7 | (2)(11) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||
Athletic Club Holdings, Inc. | Premier health club operator | First lien senior secured loan ($35.0 par due 10/2020) | 9.50% (Libor + 8.50%/Q) | 10/11/2007 | 35.0 | 35.0 | (3)(19) | ||||||||||||
CFW Co-Invest, L.P., NCP Curves, L.P. and Curves International Holdings, Inc. | Health club franchisor | Limited partnership interest (4,152,165 shares) | 7/31/2012 | 4.2 | 0.8 | (2) | |||||||||||||
Common stock (1,680 shares) | 11/12/2014 | — | — | (2)(9) | |||||||||||||||
Limited partnership interest (2,218,235 shares) | 7/31/2012 | 2.2 | 8.5 | (2)(9) | |||||||||||||||
6.4 | 9.3 | ||||||||||||||||||
41.4 | 44.3 | 0.86 | % | ||||||||||||||||
Hotel Services | |||||||||||||||||||
Aimbridge Hospitality, LLC (24) | Hotel operator | First lien senior secured loan ($2.9 par due 10/2018) | 8.25% (Libor + 7.00%/Q) | 1/7/2016 | 2.8 | 2.9 | (2)(15)(19) | ||||||||||||
First lien senior secured loan ($3.3 par due 10/2018) | 8.25% (Libor + 7.00%/Q) | 7/15/2015 | 3.2 | 3.3 | (2)(15)(19) | ||||||||||||||
First lien senior secured loan ($14.8 par due 10/2018) | 8.25% (Libor + 7.00%/Q) | 7/15/2015 | 14.7 | 14.8 | (4)(15)(19) | ||||||||||||||
20.7 | 21.0 | ||||||||||||||||||
Pyramid Management Advisors, LLC and Pyramid Investors, LLC | Hotel operator | First lien senior secured loan ($3.0 par due 7/2021) | 11.12% (Libor + 10.12%/Q) | 7/15/2016 | 3.0 | 2.9 | (2)(19) | ||||||||||||
First lien senior secured loan ($19.5 par due 7/2021) | 11.12% (Libor + 10.12%/Q) | 7/15/2016 | 19.5 | 19.1 | (3)(19) | ||||||||||||||
Membership units (990,369 units) | 7/15/2016 | 1.0 | 0.7 | (2) | |||||||||||||||
23.5 | 22.7 | ||||||||||||||||||
44.2 | 43.7 | 0.85% | |||||||||||||||||
Wholesale Distribution | |||||||||||||||||||
Flow Solutions Holdings, Inc. | Distributor of high value fluid handling, filtration and flow control products | �� | Second lien senior secured loan ($6.0 par due 10/2018) | 10.00% (Libor + 9.00%/Q) | 12/16/2014 | 6.0 | 5.3 | (2)(19) | |||||||||||
Second lien senior secured loan ($29.5 par due 10/2018) | 10.00% (Libor + 9.00%/Q) | 12/16/2014 | 29.5 | 26.0 | (2)(19) | ||||||||||||||
35.5 | 31.3 | ||||||||||||||||||
35.5 | 31.3 | 0.61% | |||||||||||||||||
Farming and Agriculture | |||||||||||||||||||
QC Supply, LLC (24) | Specialty distributor and solutions provider to the swine and poultry markets | First lien senior secured revolving loan ($2.3 par due 12/2021) | 7.00% (Libor + 6.00%/Q) | 12/29/2016 | 2.3 | 2.3 | (2)(19) | ||||||||||||
First lien senior secured loan ($28.9 par due 12/2022) | 7.00% (Libor + 6.00%/Q) | 12/29/2016 | 28.9 | 28.9 | (2)(19) | ||||||||||||||
31.2 | 31.2 | ||||||||||||||||||
31.2 | 31.2 | 0.60% | |||||||||||||||||
Telecommunications | |||||||||||||||||||
Adaptive Mobile Security Limited (9) | Developer of security software for mobile communications networks | First lien senior secured loan ($1.8 par due 7/2018) | 12.00% (Euribor + 9.00% Cash, 1% PIK/M) | 1/16/2015 | 2.0 | 1.8 | (2)(17)(19) | ||||||||||||
First lien senior secured loan ($0.5 par due 10/2018) | 12.00% (Euribor + 9.00% Cash, 1% PIK/M) | 1/16/2015 | 0.5 | 0.5 | (2)(17)(19) | ||||||||||||||
First lien senior secured loan ($1.1 par due 10/2018) | 12.00% (Euribor + 9.00% Cash, 1% PIK/M) | 10/17/2016 | 1.1 | 1.1 | (2)(17)(19) | ||||||||||||||
3.6 | 3.4 | ||||||||||||||||||
American Broadband Holding Company and Cameron Holdings of NC, Inc. | Broadband communication services | Warrant to purchase up to 208 shares (expires 11/2017) | 11/7/2007 | — | 7.2 | ||||||||||||||
Warrant to purchase up to 200 shares (expires 9/2020) | 9/1/2010 | — | 6.9 | ||||||||||||||||
— | 14.1 | ||||||||||||||||||
Startec Equity, LLC (8) | Communication services | Member interest | 4/1/2010 | — | — |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
87.2 | 87.2 | |||||||||||||||||||||||||||||||||||||||||||
EP Wealth Advisors, LLC (15) | Wealth management and financial planning firm | First lien senior secured loan ($0.1 par due 9/2026) | 6.25% (Libor + 5.25%/Q) | 9/4/2020 | 0.1 | 0.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Ivy Hill Asset Management, L.P. (5) | Asset management services | Senior subordinated loan ($72.0 par due 5/2023) | 7.25% (Libor + 6.50%/Q) | 2/8/2018 | 72.0 | 72.0 | (6)(11) | |||||||||||||||||||||||||||||||||||||
Member interest (100.00% interest) | 6/15/2009 | 469.0 | 556.5 | (6) | ||||||||||||||||||||||||||||||||||||||||
541.0 | 628.5 | |||||||||||||||||||||||||||||||||||||||||||
Javlin Three LLC, Javlin Four LLC, and Javlin Five LLC | Asset-backed financial services company | First lien senior secured loan ($16.0 par due 6/2017) | 6/24/2014 | 12.9 | 0.8 | (2)(6)(10) | ||||||||||||||||||||||||||||||||||||||
Joyce Lane Capital LLC and Joyce Lane Financing SPV LLC (fka Ciena Capital LLC) (5)(15) | Specialty finance company | First lien senior secured loan ($0.6 par due 12/2022) | 4.25% (Libor + 4.00%/Q) | 12/27/2018 | 0.6 | 0.6 | (2)(6) | |||||||||||||||||||||||||||||||||||||
Equity interests | 11/29/2010 | — | — | (2)(6) | ||||||||||||||||||||||||||||||||||||||||
0.6 | 0.6 | |||||||||||||||||||||||||||||||||||||||||||
LS DE LLC and LM LSQ Investors LLC | Asset based lender | Senior subordinated loan ($37.0 par due 6/2021) | 10.50% | 6/25/2015 | 37.0 | 36.6 | (2)(6) | |||||||||||||||||||||||||||||||||||||
Senior subordinated loan ($3.0 par due 6/2021) | 10.50% | 6/15/2017 | 3.0 | 3.0 | (2)(6) | |||||||||||||||||||||||||||||||||||||||
Membership units (3,275,000 units) | 6/25/2015 | 3.3 | 3.7 | (6) | ||||||||||||||||||||||||||||||||||||||||
43.3 | 43.3 | |||||||||||||||||||||||||||||||||||||||||||
Rialto Management Group, LLC (15) | Investment and asset management platform focused on real estate | First lien senior secured revolving loan | 11/30/2018 | — | — | (6)(13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.8 par due 12/2024) | 4.65% (Libor + 4.50%/M) | 11/30/2018 | 0.8 | 0.8 | (2)(6) | |||||||||||||||||||||||||||||||||||||||
0.8 | 0.8 | |||||||||||||||||||||||||||||||||||||||||||
TA/WEG Holdings, LLC (15) | Wealth management and financial planning firm | First lien senior secured revolving loan | 10/2/2019 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.5 par due 10/2025) | 6.75% (Libor + 5.75%/Q) | 11/6/2020 | 0.5 | 0.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($4.7 par due 10/2025) | 6.75% (Libor + 5.75%/Q) | 10/2/2019 | 4.7 | 4.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
5.2 | 5.2 | |||||||||||||||||||||||||||||||||||||||||||
The Ultimus Group Midco, LLC, The Ultimus Group, LLC, and The Ultimus Group Aggregator, LP (15) | Provider of asset-servicing capabilities for fund managers | First lien senior secured revolving loan ($4.0 par due 2/2024) | 4.75% (Libor + 4.50%/Q) | 2/1/2019 | 4.0 | 3.8 | (2) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($38.2 par due 2/2026) | 5.50% (Libor + 4.50%/Q) | 2/1/2019 | 38.2 | 36.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A units (1,443 units) | 2/1/2019 | 1.6 | 1.7 | |||||||||||||||||||||||||||||||||||||||||
Class A units (245 units) | 2/1/2019 | 0.2 | — | |||||||||||||||||||||||||||||||||||||||||
Class B units (2,167,424 units) | 2/1/2019 | — | — | |||||||||||||||||||||||||||||||||||||||||
Class B units (245,194 units) | 2/1/2019 | — | — | |||||||||||||||||||||||||||||||||||||||||
44.0 | 41.8 | |||||||||||||||||||||||||||||||||||||||||||
858.0 | 931.2 | 12.98% | ||||||||||||||||||||||||||||||||||||||||||
Automobiles & Components | ||||||||||||||||||||||||||||||||||||||||||||
Automotive Keys Group, LLC and Automotive Keys Investor, LLC | Provider of replacement wireless keys for automotive market | First lien senior secured loan ($12.2 par due 11/2025) | 6.00% (Libor + 5.00%/Q) | 12/22/2020 | 12.2 | 11.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($5.3 par due 11/2025) | 6.00% (Libor + 5.00%/Q) | 11/6/2020 | 5.3 | 5.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Preferred units (4,113,113 units) | 9.00% PIK | 11/6/2020 | 4.2 | 4.2 | (2) | |||||||||||||||||||||||||||||||||||||||
Class A common units (4,113,113 units) | 11/6/2020 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||||
21.7 | 21.3 | |||||||||||||||||||||||||||||||||||||||||||
Eckler Industries, Inc. and Eckler Purchaser LLC (5)(15) | Restoration parts and accessories provider for classic automobiles | First lien senior secured revolving loan ($2.7 par due 5/2022) | 12.00% PIK | 7/12/2012 | 2.7 | 2.6 | (2) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($23.3 par due 5/2022) | 12.00% PIK | 7/12/2012 | 23.3 | 22.6 | (2) | |||||||||||||||||||||||||||||||||||||||
Class A common units (67,972 units) | 7/12/2012 | 16.4 | — | (2) | ||||||||||||||||||||||||||||||||||||||||
42.4 | 25.2 | |||||||||||||||||||||||||||||||||||||||||||
GB Auto Service, Inc. and GB Auto Service Holdings, LLC (15) | Automotive parts and repair services retailer | First lien senior secured revolving loan ($3.8 par due 10/2024) | 7.00% (Libor + 6.00%/M) | 10/19/2018 | 3.8 | 3.8 | (2)(11) |
Company(1) | Business Description | Investment | Interest(6)(12) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | ||||||||||||
Wilcon Holdings LLC | Communications infrastructure provider | Class A common stock (2,000,000 shares) | 12/13/2013 | 1.8 | 3.7 | ||||||||||||||
5.4 | 21.2 | 0.41% | |||||||||||||||||
Retail | |||||||||||||||||||
Paper Source, Inc. and Pine Holdings, Inc. (24) | Retailer of fine and artisanal paper products | First lien senior secured loan ($9.7 par due 9/2018) | 7.25% (Libor + 6.25%/Q) | 9/23/2013 | 9.7 | 9.7 | (4)(19) | ||||||||||||
Class A common stock (36,364 shares) | 9/23/2013 | 6.0 | 5.9 | (2) | |||||||||||||||
15.7 | 15.6 | ||||||||||||||||||
Things Remembered, Inc. and TRM Holdco Corp. (7) | Personalized gifts retailer | First lien senior secured loan ($11.0 par due 3/2020) | 8/30/2016 | 10.6 | 3.5 | (2)(18) | |||||||||||||
Common stock (10,631,940 shares) | 8/30/2016 | 6.1 | — | (2) | |||||||||||||||
16.7 | 3.5 | ||||||||||||||||||
32.4 | 19.1 | 0.37% | |||||||||||||||||
Computers and Electronics | |||||||||||||||||||
Everspin Technologies, Inc. (24) | Designer and manufacturer of computer memory solutions | First lien senior secured revolving loan ($1.1 par due 6/2017) | 7.50% (Base Rate + 7.50%/M) | 6/5/2015 | 1.1 | 1.1 | (5)(19) | ||||||||||||
First lien senior secured loan ($7.3 par due 6/2019) | 8.75% (Libor + 7.75%/M) | 6/5/2015 | 7.0 | 7.3 | (5)(19) | ||||||||||||||
Warrant to purchase up to 18,461 shares of common stock (expires 10/2026) | 6/5/2015 | 0.4 | 0.4 | (5) | |||||||||||||||
8.5 | 8.8 | ||||||||||||||||||
8.5 | 8.8 | 0.17% | |||||||||||||||||
Printing, Publishing and Media | |||||||||||||||||||
Earthcolor Group, LLC | Printing management services | Limited liability company interests (9.30%) | 5/18/2012 | — | — | ||||||||||||||
The Teaching Company Holdings, Inc. | Education publications provider | Preferred stock (10,663 shares) | 9/29/2006 | 1.1 | 3.0 | (2) | |||||||||||||
Common stock (15,393 shares) | 9/29/2006 | — | — | (2) | |||||||||||||||
1.1 | 3.0 | ||||||||||||||||||
1.1 | 3.0 | 0.06% | |||||||||||||||||
Total Investments | $ | 9,034.1 | $ | 8,819.9 | (29) | 170.77% |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($21.9 par due 10/2024) | 7.00% (Libor + 6.00%/Q) | 10/19/2018 | 21.9 | 21.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($30.1 par due 10/2024) | 7.00% (Libor + 6.00%/Q) | 10/19/2018 | 30.1 | 30.1 | (11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($38.8 par due 10/2024) | 7.00% (Libor + 6.00%/Q) | 3/9/2020 | 38.8 | 38.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Common units (4,389,156 units) | 10/19/2018 | 5.7 | 10.4 | (2) | ||||||||||||||||||||||||||||||||||||||||
100.3 | 105.0 | |||||||||||||||||||||||||||||||||||||||||||
Highline Aftermarket Acquisition, LLC, Highline Aftermarket SC Acquisition, Inc. and Highline PPC Blocker LLC (15) | Manufacturer and distributor of automotive fluids | First lien senior secured revolving loan ($9.5 par due 11/2025) | 4.00% (Libor + 3.75%/M) | 11/9/2020 | 9.5 | 9.2 | (2) | |||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($41.2 par due 11/2028) | 8.75% (Libor + 8.00%/Q) | 11/9/2020 | 41.2 | 40.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($29.2 par due 11/2028) | 8.75% (Libor + 8.00%/Q) | 11/9/2020 | 29.2 | 28.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Co-invest units (59,230 units) | 11/4/2020 | 5.9 | 5.9 | (2) | ||||||||||||||||||||||||||||||||||||||||
85.8 | 84.1 | |||||||||||||||||||||||||||||||||||||||||||
Mac Lean-Fogg Company and MacLean-Fogg Holdings, L.L.C. | Manufacturer and supplier for the power utility and automotive markets worldwide | First lien senior secured loan ($153.0 par due 12/2025) | 5.63% (Libor + 5.00%/M) | 12/21/2018 | 152.4 | 146.9 | (11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($19.3 par due 12/2025) | 5.63% (Libor + 5.00%/M) | 12/21/2018 | 19.3 | 18.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Preferred units (59,453 units) | 4.50% Cash, 9.25% PIK | 10/9/2015 | 72.3 | 72.3 | ||||||||||||||||||||||||||||||||||||||||
244.0 | 237.7 | |||||||||||||||||||||||||||||||||||||||||||
Mavis Tire Express Services Corp. and Mavis Tire Express Services TopCo, L.P. (15) | Auto parts retailer | Second lien senior secured loan ($153.9 par due 3/2026) | 8.50% (Libor + 7.50%/Q) | 3/20/2018 | 152.3 | 153.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($1.4 par due 3/2026) | 8.50% (Libor + 7.50%/Q) | 3/20/2018 | 1.4 | 1.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($23.3 par due 3/2026) | 9.00% (Libor + 8.00%/Q) | 10/15/2019 | 23.3 | 23.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A units (12,400,000 units) | 3/20/2018 | 12.4 | 19.0 | (2) | ||||||||||||||||||||||||||||||||||||||||
189.4 | 197.6 | |||||||||||||||||||||||||||||||||||||||||||
SK SPV IV, LLC | Collision repair site operator | Series A common stock (12,500 units) | 8/18/2014 | 0.6 | 1.4 | (2) | ||||||||||||||||||||||||||||||||||||||
Series B common stock (12,500 units) | 8/18/2014 | 0.6 | 1.4 | (2) | ||||||||||||||||||||||||||||||||||||||||
1.2 | 2.8 | |||||||||||||||||||||||||||||||||||||||||||
Wand Newco 3, Inc. | Collision repair company | Second lien senior secured loan ($180.2 par due 2/2027) | 7.40% (Libor + 7.25%/M) | 2/5/2019 | 177.8 | 174.8 | (2) | |||||||||||||||||||||||||||||||||||||
862.6 | 848.5 | 11.82% | ||||||||||||||||||||||||||||||||||||||||||
Power Generation | ||||||||||||||||||||||||||||||||||||||||||||
Beacon RNG LLC | Owner of natural gas facilities | Class B units (35,000,000 units) | 3/11/2019 | 35.0 | 39.3 | |||||||||||||||||||||||||||||||||||||||
CPV Maryland Holding Company II, LLC | Gas turbine power generation facilities operator | Senior subordinated loan ($66.2 par due 3/2021) | 14.00% PIK | 8/8/2014 | 61.6 | 61.6 | (2) | |||||||||||||||||||||||||||||||||||||
DGH Borrower LLC | Developer, owner and operator of quick start, small-scale natural gas-fired power generation projects | First lien senior secured loan ($50.3 par due 6/2023) | 8.25% (Libor + 7.25%/Q) | 6/8/2018 | 50.3 | 45.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Green Energy Partners, Stonewall LLC and Panda Stonewall Intermediate Holdings II LLC | Gas turbine power generation facilities operator | First lien senior secured loan ($14.4 par due 11/2021) | 6.50% (Libor + 5.50%/Q) | 11/13/2014 | 14.3 | 13.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Senior subordinated loan ($134.2 par due 12/2021) | 11/13/2014 | 132.1 | 87.3 | (2)(10) | ||||||||||||||||||||||||||||||||||||||||
146.4 | 100.4 | |||||||||||||||||||||||||||||||||||||||||||
Heelstone Renewable Energy, LLC (5)(15) | Provider of cloud based IT solutions, infrastructure and services | Preferred equity (2,700,000 shares) | 6/28/2019 | 29.4 | 29.7 | |||||||||||||||||||||||||||||||||||||||
Hummel Station LLC | Gas turbine power generation facilities operator | First lien senior secured loan ($0.9 par due 10/2022) | 7.00% (Libor + 6.00%/M) | 12/10/2020 | 0.9 | 0.9 | (2)(11)(18) | |||||||||||||||||||||||||||||||||||||
Navisun LLC and Navisun Holdings LLC (5)(15) | Owner and operater of commercial and industrial solar projects | First lien senior secured loan ($52.6 par due 11/2023) | 8.00% PIK | 11/15/2017 | 52.6 | 52.6 | (2) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($14.6 par due 11/2023) | 9.00% PIK | 3/7/2019 | 14.6 | 14.6 | (2) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($39.1 par due 11/2023) | 5.00% Cash, 3.00% PIK | 8/15/2019 | 39.1 | 39.1 | (2) | |||||||||||||||||||||||||||||||||||||||
Series A preferred units (1,000 units) | 10.50% PIK | 11/15/2017 | 12.6 | 12.6 | ||||||||||||||||||||||||||||||||||||||||
Class A units (550 units) | 11/15/2017 | — | 0.3 | |||||||||||||||||||||||||||||||||||||||||
118.9 | 119.2 | |||||||||||||||||||||||||||||||||||||||||||
Panda Temple Power, LLC and T1 Power Holdings LLC (4) | Gas turbine power generation facilities operator | Second lien senior secured loan ($4.5 par due 2/2023) | 9.00% PIK (Libor + 8.00%/M) | 3/6/2015 | 4.5 | 4.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Class A Common units (616,122 shares) | 3/6/2015 | 15.0 | 14.1 | |||||||||||||||||||||||||||||||||||||||||
19.5 | 18.6 | |||||||||||||||||||||||||||||||||||||||||||
PERC Holdings 1 LLC | Operator of recycled energy, combined heat and power, and energy efficiency facilities | Class B common units (21,653,543 units) | 10/20/2014 | 0.6 | 12.7 | (2) | ||||||||||||||||||||||||||||||||||||||
PosiGen Backleverage, LLC and PosiGen, Inc. (15) | Seller and leaser of solar power systems for residential and commercial customers | First lien senior secured loan ($43.8 par due 1/2023) | 10.50% (Libor + 7.00% Cash, 1.50% PIK/Q) | 9/29/2020 | 42.9 | 43.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.9 par due 1/2023) | 15.00% (Libor + 7.00% Cash, 6.00% PIK/M) | 9/29/2020 | 1.9 | 1.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 78,632 shares of common stock (expires 1/2027) | 1/29/2020 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||||
44.8 | 44.9 | |||||||||||||||||||||||||||||||||||||||||||
Riverview Power LLC | Operator of natural gas and oil fired power generation facilities | First lien senior secured loan ($76.6 par due 12/2022) | 9.00% (Libor + 8.00%/Q) | 12/29/2016 | 75.8 | 76.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||
SE1 Generation, LLC | Solar power developer | Senior subordinated loan ($55.6 par due 12/2022) | 5.50% Cash, 4.00% PIK | 12/17/2019 | 55.6 | 54.5 | (2) | |||||||||||||||||||||||||||||||||||||
Sunrun Atlas Depositor 2019-2, LLC and Sunrun Atlas Holdings 2019-2, LLC | Residential solar energy provider | First lien senior secured loan ($0.1 par due 2/2055) | 3.61% | 10/28/2019 | 0.1 | 0.1 | (2) | |||||||||||||||||||||||||||||||||||||
Senior subordinated loan ($137.0 par due 11/2025) | 8.75% (Libor + 2.75% Cash, 4.00% PIK/Q) | 11/26/2019 | 137.0 | 137.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
137.1 | 137.1 | |||||||||||||||||||||||||||||||||||||||||||
Sunrun Xanadu Issuer 2019-1, LLC and Sunrun Xanadu Holdings 2019-1, LLC | Residential solar energy provider | First lien senior secured loan ($0.4 par due 6/2054) | 3.98% | 6/7/2019 | 0.4 | 0.4 | (2) | |||||||||||||||||||||||||||||||||||||
Senior subordinated loan ($66.9 par due 7/2030) | 8.75% (Libor + 2.75% Cash, 4.00% PIK/Q) | 6/27/2019 | 66.9 | 66.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
67.3 | 67.3 | |||||||||||||||||||||||||||||||||||||||||||
843.2 | 808.5 | 11.27% | ||||||||||||||||||||||||||||||||||||||||||
Capital Goods | ||||||||||||||||||||||||||||||||||||||||||||
AEP Holdings, Inc. and Arrowhead Holdco Company (15) | Distributor of non-discretionary, mission-critical aftermarket replacement parts | First lien senior secured loan ($7.7 par due 11/2025) | 6.75% (Libor + 5.75%/Q) | 12/31/2020 | 7.7 | 7.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($17.1 par due 11/2025) | 6.75% (Euribor + 5.75%/Q) | 11/17/2020 | 16.6 | 16.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Common stock (3,467 shares) | 8/31/2015 | 3.5 | 3.4 | (2) | ||||||||||||||||||||||||||||||||||||||||
27.8 | 27.7 | |||||||||||||||||||||||||||||||||||||||||||
Cadence Aerospace, LLC (15) | Aerospace precision components manufacturer | First lien senior secured revolving loan ($14.2 par due 11/2022) | 9.50% (Libor + 3.25% Cash, 5.25% PIK/Q) | 11/14/2017 | 14.2 | 12.8 | (2)(11)(14) | |||||||||||||||||||||||||||||||||||||
First lien senior secured revolving loan ($0.4 par due 11/2023) | 9.50% (Libor + 3.25% Cash, 5.25% PIK/Q) | 7/22/2020 | 0.4 | 0.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($31.7 par due 11/2023) | 9.50% (Libor + 3.25% Cash, 5.25% PIK/Q) | 11/14/2017 | 31.5 | 28.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($9.9 par due 11/2023) | 9.50% (Libor + 3.25% Cash, 5.25% PIK/Q) | 7/5/2018 | 9.9 | 8.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($12.0 par due 11/2023) | 9.50% (Libor + 3.25% Cash, 5.25% PIK/Q) | 10/31/2019 | 12.0 | 10.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($7.9 par due 11/2023) | 9.50% (Libor + 3.25% Cash, 5.25% PIK/Q) | 2/12/2020 | 7.9 | 7.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.7 par due 11/2023) | 9.50% (Libor + 3.25% Cash, 5.25% PIK/Q) | 7/31/2020 | 1.6 | 1.5 | (2)(11) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
77.5 | 69.9 | |||||||||||||||||||||||||||||||||||||||||||
Creation Holdings Inc. (15) | Manufacturer of electrical systems | First lien senior secured revolving loan ($4.4 par due 8/2024) | 6.75% (Libor + 5.75%/M) | 8/15/2019 | 4.4 | 4.3 | (2)(6)(11)(14) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($17.6 par due 8/2025) | 6.75% (Libor + 5.75%/Q) | 8/15/2019 | 17.5 | 17.3 | (2)(6)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($6.7 par due 8/2025) | 6.75% (Libor + 5.75%/Q) | 8/15/2019 | 6.7 | 6.5 | (6)(11) | |||||||||||||||||||||||||||||||||||||||
28.6 | 28.1 | |||||||||||||||||||||||||||||||||||||||||||
DFS Holding Company, Inc. | Distributor of maintenance, repair, and operations parts, supplies, and equipment to the foodservice industry | First lien senior secured loan ($168.6 par due 8/2023) | 8.50% (Libor + 6.00% Cash, 1.50% PIK/M) | 7/26/2017 | 168.6 | 158.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($4.3 par due 8/2023) | 8.50% (Libor + 6.00% Cash, 1.50% PIK/M) | 3/1/2017 | 4.3 | 4.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.7 par due 8/2023) | 8.50% (Libor + 6.00% Cash, 1.50% PIK/M) | 5/22/2020 | 0.7 | 0.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.7 par due 2/2022) | 8.50% (Libor + 6.00% Cash, 1.50% PIK/M) | 5/22/2020 | 0.7 | 0.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.6 par due 8/2023) | 8.50% (Libor + 6.00% Cash, 1.50% PIK/M) | 5/22/2020 | 1.6 | 1.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
175.9 | 165.3 | |||||||||||||||||||||||||||||||||||||||||||
Dynamic NC Aerospace Holdings, LLC and Dynamic NC Investment Holdings, LP (15) | Provider of aerospace technology and equipment | First lien senior secured revolving loan ($0.7 par due 12/2025) | 8.75% (Base Rate + 5.50%/Q) | 12/30/2020 | 0.7 | 0.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($26.0 par due 12/2026) | 8.75% (Base Rate + 5.50%/Q) | 12/30/2020 | 26.0 | 25.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Common units (9,773,000 units) | 12/30/2020 | 9.8 | 9.8 | |||||||||||||||||||||||||||||||||||||||||
36.5 | 36.3 | |||||||||||||||||||||||||||||||||||||||||||
ESCP PPG Holdings, LLC (4) | Distributor of new equipment and aftermarket parts to the heavy-duty truck industry | Class A units (3,500,000 units) | 12/14/2016 | 3.5 | 3.1 | (2) | ||||||||||||||||||||||||||||||||||||||
Flow Control Solutions, Inc. (15) | Distributor and manufacturer of flow control systems components | First lien senior secured loan ($10.8 par due 11/2024) | 6.75% (Libor + 5.75%/Q) | 11/21/2018 | 10.8 | 10.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($9.5 par due 11/2024) | 6.75% (Libor + 5.75%/Q) | 11/21/2018 | 9.5 | 9.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
20.3 | 20.3 | |||||||||||||||||||||||||||||||||||||||||||
Harvey Tool Company, LLC (15) | Manufacturer of cutting tools used in the metalworking industry | First lien senior secured revolving loan | 10/12/2017 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($32.0 par due 10/2024) | 5.75% (Libor + 4.75%/Q) | 11/30/2020 | 32.0 | 32.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($30.0 par due 10/2024) | 5.75% (Libor + 4.75%/Q) | 10/12/2017 | 30.0 | 30.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($43.7 par due 10/2025) | 9.50% (Libor + 8.50%/Q) | 10/12/2017 | 43.7 | 43.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
105.7 | 105.7 | |||||||||||||||||||||||||||||||||||||||||||
Imaging Business Machines, L.L.C. and Scanner Holdings Corporation (5) | Provider of high-speed intelligent document scanning hardware and software | Senior subordinated loan ($8.3 par due 6/2022) | 14.00% | 1/3/2017 | 8.2 | 8.3 | (2) | |||||||||||||||||||||||||||||||||||||
Senior subordinated loan ($8.3 par due 6/2022) | 14.00% | 1/3/2017 | 8.2 | 8.3 | (2) | |||||||||||||||||||||||||||||||||||||||
Series A preferred stock (73,804,135 shares) | 1/3/2017 | 1.2 | 26.9 | |||||||||||||||||||||||||||||||||||||||||
Class A common stock (48,082 shares) | 1/3/2017 | — | 0.1 | |||||||||||||||||||||||||||||||||||||||||
Class B common stock (431,055 shares) | 1/3/2017 | 0.1 | 0.9 | |||||||||||||||||||||||||||||||||||||||||
17.7 | 44.5 | |||||||||||||||||||||||||||||||||||||||||||
Kene Acquisition, Inc. and Kene Holdings, L.P. (15) | National utility services firm providing engineering and consulting services to natural gas, electric power and other energy and industrial end markets | First lien senior secured revolving loan | 8/8/2019 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($51.5 par due 8/2026) | 5.25% (Libor + 4.25%/Q) | 8/8/2019 | 51.5 | 51.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A units (4,549,000 units) | 8/8/2019 | 4.5 | 4.3 | (2) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
56.0 | 55.3 | |||||||||||||||||||||||||||||||||||||||||||
LTG Acquisition, Inc. | Designer and manufacturer of display, lighting and passenger communication systems for mass transportation markets | Class A membership units (5,000 units) | 1/3/2017 | 5.1 | — | |||||||||||||||||||||||||||||||||||||||
MB Aerospace Holdings II Corp. | Aerospace engine components manufacturer | Second lien senior secured loan ($68.4 par due 1/2026) | 10.00% (Libor + 9.00%/Q) | 1/22/2018 | 68.4 | 61.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($23.6 par due 1/2026) | 10.00% (Libor + 9.00%/Q) | 5/28/2019 | 23.6 | 21.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
92.0 | 82.9 | |||||||||||||||||||||||||||||||||||||||||||
NCWS Intermediate, Inc. and NCWS Holdings LP (15) | Manufacturer and supplier of car wash equipment, parts and supplies to the conveyorized car wash market | First lien senior secured loan ($144.1 par due 12/2026) | 7.50% (Libor + 6.50%/Q) | 12/29/2020 | 144.1 | 142.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Class A-2 common units (10,000,000 units) | 12/29/2020 | 10.0 | 10.0 | (2) | ||||||||||||||||||||||||||||||||||||||||
154.1 | 152.7 | |||||||||||||||||||||||||||||||||||||||||||
Radius Aerospace, Inc. and Radius Aerospace Europe Limited (15) | Metal fabricator in the aerospace industry | First lien senior secured revolving loan ($0.2 par due 3/2025) | 6.75% (Libor + 5.75%/Q) | 3/29/2019 | 0.2 | 0.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured revolving loan ($1.1 par due 3/2025) | 6.75% (GBP Libor + 5.75%/Q) | 11/14/2019 | 1.0 | 1.0 | (2)(6)(11) | |||||||||||||||||||||||||||||||||||||||
1.2 | 1.2 | |||||||||||||||||||||||||||||||||||||||||||
Star US Bidco LLC (15) | Manufacturer of pumps, compressors and other highly-engineered equipment for mission-critical applications | First lien senior secured revolving loan | 3/17/2020 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
Sunk Rock Foundry Partners LP, Hatteras Electrical Manufacturing Holding Company and Sigma Electric Manufacturing Corporation (15) | Manufacturer of metal castings, precision machined components and sub-assemblies in the electrical products, power transmission and distribution and general industrial markets | First lien senior secured revolving loan ($2.5 par due 10/2022) | 7.25% (Libor + 6.25%/Q) | 10/31/2017 | 2.5 | 2.5 | (2)(11)(14) | |||||||||||||||||||||||||||||||||||||
804.4 | 795.5 | 11.08% | ||||||||||||||||||||||||||||||||||||||||||
Insurance Services | ||||||||||||||||||||||||||||||||||||||||||||
Alera Group Intermediate Holdings, Inc. | Insurance service provider | Second lien senior secured loan ($26.2 par due 3/2026) | 8.65% (Libor + 8.50%/M) | 3/5/2019 | 26.2 | 26.2 | (2) | |||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($24.4 par due 3/2026) | 8.65% (Libor + 8.50%/M) | 3/5/2019 | 24.4 | 24.4 | (2) | |||||||||||||||||||||||||||||||||||||||
50.6 | 50.6 | |||||||||||||||||||||||||||||||||||||||||||
Amynta Agency Borrower Inc. and Amynta Warranty Borrower Inc. | Insurance service provider | First lien senior secured loan ($13.3 par due 2/2025) | 4.65% (Libor + 4.50%/M) | 12/21/2018 | 13.3 | 12.9 | (2) | |||||||||||||||||||||||||||||||||||||
AQ Sunshine, Inc. (15) | Specialized insurance broker | First lien senior secured loan ($8.7 par due 4/2025) | 7.00% (Libor + 6.00%/Q) | 4/15/2019 | 8.7 | 8.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($9.5 par due 4/2025) | 7.00% (Libor + 6.00%/Q) | 10/29/2020 | 9.5 | 9.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
18.2 | 18.2 | |||||||||||||||||||||||||||||||||||||||||||
Ardonagh Midco 2 plc and Ardonagh Midco 3 plc (15) | Insurance broker and underwriting servicer | First lien senior secured loan ($2.4 par due 7/2026) | 8.25% (GBP Libor + 7.50%/Q) | 6/26/2020 | 2.3 | 2.4 | (2)(6)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($68.7 par due 7/2026) | 8.25% (GBP Libor + 7.50%/Q) | 6/26/2020 | 63.1 | 68.7 | (2)(6)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($7.8 par due 7/2026) | 8.50% (Euribor + 7.50%/Q) | 6/26/2020 | 7.3 | 7.8 | (2)(6)(11) | |||||||||||||||||||||||||||||||||||||||
Senior subordinated loan ($1.1 par due 1/2027) | 11.50% | 6/26/2020 | 1.1 | 1.1 | (2)(6) | |||||||||||||||||||||||||||||||||||||||
73.8 | 80.0 | |||||||||||||||||||||||||||||||||||||||||||
Benecon Midco II LLC and Locutus Holdco LLC (15) | Employee benefits provider for small and mid-size employers | First lien senior secured revolving loan ($1.8 par due 12/2026) | 6.50% (Libor + 5.50%/Q) | 12/4/2020 | 1.8 | 1.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Common units (9,803,682 units) | 12/4/2020 | 10.0 | 10.0 | (2) | ||||||||||||||||||||||||||||||||||||||||
11.8 | 11.7 | |||||||||||||||||||||||||||||||||||||||||||
Foundation Risk Partners, Corp. (15) | Full service independent insurance agency | First lien senior secured loan ($21.8 par due 11/2023) | 5.75% (Libor + 4.75%/Q) | 11/10/2017 | 21.8 | 21.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($25.8 par due 11/2023) | 5.75% (Libor + 4.75%/Q) | 8/30/2019 | 25.8 | 25.8 | (11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($19.1 par due 11/2024) | 9.50% (Libor + 8.50%/Q) | 8/9/2018 | 19.1 | 19.1 | (2)(11) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($21.7 par due 11/2024) | 9.50% (Libor + 8.50%/Q) | 8/9/2018 | 21.7 | 21.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($27.4 par due 11/2024) | 9.50% (Libor + 8.50%/Q) | 5/1/2019 | 27.4 | 27.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($14.8 par due 11/2024) | 9.50% (Libor + 8.50%/Q) | 8/30/2019 | 14.8 | 14.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($27.5 par due 11/2024) | 9.50% (Libor + 8.50%/Q) | 11/10/2017 | 27.5 | 27.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
158.1 | 158.1 | |||||||||||||||||||||||||||||||||||||||||||
K2 Insurance Services, LLC and K2 Holdco LP (15) | Specialty insurance and managing general agency | First lien senior secured revolving loan | 7/1/2019 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($51.5 par due 7/2024) | 6.00% (Libor + 5.00%/Q) | 7/1/2019 | 51.5 | 51.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($10.5 par due 7/2024) | 6.00% (Libor + 5.00%/M) | 7/1/2019 | 10.5 | 10.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Common units (799,000 units) | 7/1/2019 | 0.8 | 1.5 | (2) | ||||||||||||||||||||||||||||||||||||||||
62.8 | 63.5 | |||||||||||||||||||||||||||||||||||||||||||
NSM Insurance Group, LLC | Insurance program administrator | First lien senior secured loan ($12.9 par due 5/2026) | 7.00% (Libor + 5.75%/Q) | 5/11/2018 | 12.9 | 12.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||
RSC Acquisition, Inc. and RSC Insurance Brokerage, Inc. (15) | Insurance broker | First lien senior secured revolving loan | 11/1/2019 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($43.1 par due 10/2026) | 6.50% (Libor + 5.50%/Q) | 11/1/2019 | 43.1 | 42.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
43.1 | 42.7 | |||||||||||||||||||||||||||||||||||||||||||
SCM Insurance Services Inc. (15) | Provider of claims management, claims investigation & support and risk management solutions for the Canadian property and casualty insurance industry | First lien senior secured loan ($20.5 par due 8/2024) | 6.00% (CDOR + 5.00%/M) | 8/29/2017 | 20.8 | 20.1 | (2)(6)(11) | |||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($59.6 par due 3/2025) | 10.00% (CDOR + 9.00%/M) | 8/29/2017 | 60.5 | 58.4 | (2)(6)(11) | |||||||||||||||||||||||||||||||||||||||
81.3 | 78.5 | |||||||||||||||||||||||||||||||||||||||||||
SG Acquisition, Inc. | Provider of insurance solutions for car sales | First lien senior secured loan ($38.6 par due 1/2027) | 5.90% (Libor + 5.75%/M) | 1/27/2020 | 38.6 | 38.6 | (2) | |||||||||||||||||||||||||||||||||||||
Spring Insurance Solutions, LLC (15) | Technology-based direct to consumer sales and marketing platform for insurance products | First lien senior secured loan ($19.0 par due 11/2025) | 7.50% (Libor + 6.50%/Q) | 11/23/2020 | 19.0 | 18.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||
THG Acquisition, LLC (15) | Multi-line insurance broker | First lien senior secured revolving loan | 12/2/2019 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.9 par due 12/2026) | 7.00% (Libor + 6.00%/Q) | 12/15/2020 | 0.9 | 0.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($10.0 par due 12/2026) | 6.75% (Libor + 5.75%/Q) | 12/2/2019 | 10.0 | 9.9 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($17.7 par due 12/2026) | 7.00% (Libor + 6.00%/Q) | 12/15/2020 | 17.7 | 17.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
28.6 | 28.5 | |||||||||||||||||||||||||||||||||||||||||||
612.1 | 615.0 | 8.57% | ||||||||||||||||||||||||||||||||||||||||||
Energy | ||||||||||||||||||||||||||||||||||||||||||||
Birch Permian, LLC | Operator of private exploration oil and production company | Second lien senior secured loan ($88.3 par due 4/2023) | 9.50% (Libor + 8.00%/Q) | 4/12/2019 | 87.7 | 81.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Cheyenne Petroleum Company Limited Partnership, CPC 2001 LLC and Mill Shoals LLC | Private oil exploration and production company | Second lien senior secured loan ($63.1 par due 1/2024) | 10.50% (Libor + 8.50%/Q) | 7/10/2019 | 63.1 | 52.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Murchison Oil and Gas, LLC and Murchison Holdings, LLC | Exploration and production company | First lien senior secured loan ($6.8 par due 10/2023) | 11.00% (Libor + 9.00%/Q) | 9/19/2019 | 6.7 | 6.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($38.3 par due 10/2023) | 10.00% (Libor + 8.00%/Q) | 9/19/2019 | 38.3 | 38.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Preferred units (21,667 units) | 8.00% | 10/26/2018 | 23.5 | 20.8 | ||||||||||||||||||||||||||||||||||||||||
68.5 | 65.6 | |||||||||||||||||||||||||||||||||||||||||||
Penn Virginia Holding Corp. | Exploration and production company | Second lien senior secured loan ($90.1 par due 9/2022) | 8.00% (Libor + 7.00%/M) | 9/28/2017 | 90.1 | 84.7 | (2)(6)(11) | |||||||||||||||||||||||||||||||||||||
Sundance Energy, Inc. | Oil and gas producer | Second lien senior secured loan ($61.3 par due 4/2023) | 4/23/2018 | 58.6 | 36.8 | (2)(10) | ||||||||||||||||||||||||||||||||||||||
VPROP Operating, LLC and V SandCo, LLC (5)(15) | Sand-based proppant producer and distributor to the oil and natural gas industry | First lien senior secured loan ($5.4 par due 11/2024) | 11.00% PIK | 11/6/2020 | 5.4 | 5.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($4.9 par due 11/2024) | 11.00% PIK | 6/12/2020 | 4.9 | 4.9 | (2)(11) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($22.5 par due 11/2024) | 11.00% PIK | 3/1/2017 | 22.5 | 22.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A units (347,900 units) | 11/6/2020 | 32.8 | 34.4 | (2) | ||||||||||||||||||||||||||||||||||||||||
65.6 | 67.2 | |||||||||||||||||||||||||||||||||||||||||||
433.6 | 387.9 | 5.41% | ||||||||||||||||||||||||||||||||||||||||||
Food & Beverage | ||||||||||||||||||||||||||||||||||||||||||||
American Seafoods Group LLC and American Seafoods Partners LLC | Harvester and processor of seafood | Class A units (77,922 units) | 8/19/2015 | 0.1 | 0.2 | (2) | ||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 7,422,078 Class A units (expires 8/2035) | 8/19/2015 | 7.4 | 17.5 | (2) | ||||||||||||||||||||||||||||||||||||||||
7.5 | 17.7 | |||||||||||||||||||||||||||||||||||||||||||
Bragg Live Food Products, LLC and SPC Investment Co., L.P. (4)(15) | Health food company | First lien senior secured revolving loan ($1.2 par due 12/2025) | 6.75% (Libor + 5.75%/Q) | 3/11/2019 | 1.2 | 1.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($39.8 par due 12/2025) | 6.75% (Libor + 5.75%/Q) | 12/28/2020 | 39.8 | 39.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Common units (14,850 units) | 3/11/2019 | 14.9 | 14.3 | (2) | ||||||||||||||||||||||||||||||||||||||||
55.9 | 55.3 | |||||||||||||||||||||||||||||||||||||||||||
CHG PPC Parent LLC | Diversified food products manufacturer | Second lien senior secured loan ($60.5 par due 3/2026) | 7.65% (Libor + 7.50%/M) | 3/30/2018 | 60.5 | 60.5 | (2) | |||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($34.1 par due 3/2026) | 7.90% (Libor + 7.75%/M) | 1/31/2019 | 34.1 | 34.1 | (2) | |||||||||||||||||||||||||||||||||||||||
94.6 | 94.6 | |||||||||||||||||||||||||||||||||||||||||||
Ferraro Fine Foods Corp. and Italian Fine Foods Holdings L.P. (15) | Specialty Italian food distributor | First lien senior secured loan ($9.3 par due 5/2024) | 5.25% (Libor + 4.25%/Q) | 5/9/2018 | 9.3 | 9.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.5 par due 5/2024) | 5.25% (Libor + 4.25%/Q) | 12/7/2018 | 0.5 | 0.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($2.8 par due 5/2024) | 5.25% (Libor + 4.25%/Q) | 5/10/2019 | 2.8 | 2.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A common units (2,724,000 units) | 5/9/2018 | 2.7 | 4.1 | (2) | ||||||||||||||||||||||||||||||||||||||||
15.3 | 16.7 | |||||||||||||||||||||||||||||||||||||||||||
Gehl Foods, LLC and GF Parent LLC | Producer of low-acid, aseptic food and beverage products | Class A preferred units (2,940 units) | 5/13/2015 | 2.9 | — | (2) | ||||||||||||||||||||||||||||||||||||||
Class A common units (60,000 units) | 5/13/2015 | 0.1 | — | (2) | ||||||||||||||||||||||||||||||||||||||||
Class B common units (0.26 units) | 5/13/2015 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||||
3.0 | — | |||||||||||||||||||||||||||||||||||||||||||
Hometown Food Company (15) | Food distributor | First lien senior secured revolving loan ($0.5 par due 8/2023) | 6.25% (Libor + 5.00%/M) | 8/31/2018 | 0.5 | 0.5 | (2)(11)(14) | |||||||||||||||||||||||||||||||||||||
KC Culinarte Intermediate, LLC | Manufacturer of fresh refrigerated and frozen food products | First lien senior secured loan ($25.8 par due 8/2025) | 4.75% (Libor + 3.75%/M) | 1/24/2020 | 25.8 | 22.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($35.7 par due 8/2026) | 8.75% (Libor + 7.75%/M) | 8/24/2018 | 35.7 | 29.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
61.5 | 51.8 | |||||||||||||||||||||||||||||||||||||||||||
NECCO Holdings, Inc. and New England Confectionery Company, Inc. (5)(15) | Producer and supplier of candy | First lien senior secured revolving loan ($19.9 par due 1/2018) | 1/3/2017 | 7.9 | 2.9 | (10) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($11.6 par due 11/2021) | 1/3/2017 | 0.9 | 1.6 | (10) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($2.2 par due 8/2018) | 11/20/2017 | 2.1 | — | (10) | ||||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($0.7 par due 11/2018) | 11/20/2017 | 0.7 | 0.1 | (10) | ||||||||||||||||||||||||||||||||||||||||
Common stock (860,189 shares) | 1/3/2017 | 0.9 | — | |||||||||||||||||||||||||||||||||||||||||
12.5 | 4.6 | |||||||||||||||||||||||||||||||||||||||||||
RF HP SCF Investor, LLC | Branded specialty food company | Membership interest (10.08% interest) | 12/22/2016 | 12.5 | 16.9 | (2)(6) | ||||||||||||||||||||||||||||||||||||||
Sovos Brands Intermediate, Inc. (15) | Food and beverage platform | First lien senior secured loan ($6.7 par due 11/2025) | 4.96% (Libor + 4.75%/Q) | 11/20/2018 | 6.7 | 6.7 | (2) | |||||||||||||||||||||||||||||||||||||
Teasdale Foods, Inc. and Familia Group Holdings Inc. (15) | Provider of beans, sauces and hominy to the retail, foodservice and wholesale channels | First lien senior secured loan ($79.0 par due 12/2025) | 7.25% (Libor + 6.25%/Q) | 12/18/2020 | 79.0 | 77.4 | (2)(11) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 57,827 shares of common stock (expires 2/2034) | 2/4/2019 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||||
79.0 | 77.4 | |||||||||||||||||||||||||||||||||||||||||||
349.0 | 342.2 | 4.77% | ||||||||||||||||||||||||||||||||||||||||||
Retailing & Distribution | ||||||||||||||||||||||||||||||||||||||||||||
Blue Angel Buyer 1, LLC and Blue Angel Holdco, LLC (4)(15) | Distributor of OEM appliance aftermarket parts | First lien senior secured revolving loan | 1/2/2019 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($5.3 par due 1/2026) | 5.25% (Libor + 4.25%/Q) | 2/20/2020 | 5.3 | 5.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A preferred units (46,359 units) | 8.00% PIK | 1/2/2019 | 4.3 | 22.7 | (2) | |||||||||||||||||||||||||||||||||||||||
9.6 | 28.0 | |||||||||||||||||||||||||||||||||||||||||||
Chariot Acquisition, LLC | Manufacturer of aftermarket golf cart parts and accessories | First lien senior secured loan ($26.2 par due 9/2021) | 7.25% (Libor + 6.25%/Q) | 1/3/2017 | 26.1 | 26.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Display Holding Company, Inc., Saldon Holdings, Inc. and Fastsigns Holdings Inc. (15) | Provider of visual communications solutions | First lien senior secured revolving loan | 3/13/2019 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($16.2 par due 3/2025) | 6.65% (Libor + 5.65%/M) | 3/13/2019 | 16.2 | 16.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($2.6 par due 3/2025) | 6.65% (Libor + 5.65%/M) | 8/27/2019 | 2.6 | 2.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Common units (600 units) | 3/13/2019 | 0.6 | 0.8 | (2) | ||||||||||||||||||||||||||||||||||||||||
19.4 | 19.6 | |||||||||||||||||||||||||||||||||||||||||||
GPM Investments, LLC and ARKO Corp. | Convenience store operator | First lien senior secured loan ($27.4 par due 3/2027) | 6.25% (Libor + 4.75%/Q) | 2/28/2020 | 27.4 | 27.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($26.0 par due 3/2027) | 6.25% (Libor + 4.75%/Q) | 2/28/2020 | 26.0 | 26.0 | (11) | |||||||||||||||||||||||||||||||||||||||
Common stock (2,088,478 shares) | 12/22/2020 | 19.8 | 17.4 | (2) | ||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 1,088,780 common stock (expires 12/2025) | 12/22/2020 | 1.6 | 1.6 | (2) | ||||||||||||||||||||||||||||||||||||||||
74.8 | 72.4 | |||||||||||||||||||||||||||||||||||||||||||
McKenzie Creative Brands, LLC (15) | Designer, manufacturer and distributor of hunting-related supplies | First lien senior secured loan ($84.5 par due 9/2023) | 6.75% (Libor + 5.75%/Q) | 9/18/2014 | 84.5 | 84.5 | (2)(8)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($5.5 par due 9/2023) | 6.75% (Libor + 5.75%/Q) | 9/18/2014 | 5.5 | 5.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
90.0 | 90.0 | |||||||||||||||||||||||||||||||||||||||||||
Pine Holdings, Inc. | Retailer of fine and artisanal paper products | Class A common stock (36,364 shares) | 9/23/2013 | 6.0 | — | (2) | ||||||||||||||||||||||||||||||||||||||
Reddy Ice LLC (15) | Packaged ice manufacturer and distributor | First lien senior secured revolving loan | 7/1/2019 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($57.1 par due 7/2025) | 7.50% (Libor + 6.50%/Q) | 7/1/2019 | 57.1 | 56.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($3.8 par due 7/2025) | 7.50% (Libor + 6.50%/Q) | 7/1/2019 | 3.8 | 3.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
60.9 | 59.7 | |||||||||||||||||||||||||||||||||||||||||||
SCIH Salt Holdings Inc. (15) | Salt and packaged ice melt manufacturer and distributor | First lien senior secured revolving loan ($0.1 par due 3/2025) | 6.25% (Base Rate + 3.00%/M) | 3/16/2020 | 0.1 | 0.1 | (2)(11)(14)(18) | |||||||||||||||||||||||||||||||||||||
First lien senior secured revolving loan ($2.3 par due 3/2025) | 5.00% (Libor + 4.00%/M) | 3/16/2020 | 2.2 | 2.3 | (2)(11)(14)(18) | |||||||||||||||||||||||||||||||||||||||
2.3 | 2.4 | |||||||||||||||||||||||||||||||||||||||||||
289.1 | 298.3 | 4.16% | ||||||||||||||||||||||||||||||||||||||||||
Materials | ||||||||||||||||||||||||||||||||||||||||||||
Genomatica, Inc. | Developer of a biotechnology platform for the production of chemical products | Warrant to purchase 322,422 shares of Series D preferred stock (expires 3/2023) | 3/28/2013 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||
Halex Holdings, Inc. (5) | Manufacturer of flooring installation products | Common stock (51,853 shares) | 1/3/2017 | — | — | |||||||||||||||||||||||||||||||||||||||
H-Food Holdings, LLC and Matterhorn Parent, LLC | Food contract manufacturer | Second lien senior secured loan ($73.0 par due 3/2026) | 7.15% (Libor + 7.00%/M) | 11/25/2018 | 73.0 | 73.0 | (2) | |||||||||||||||||||||||||||||||||||||
Common units (5,827 units) | 11/25/2018 | 5.8 | 4.9 | |||||||||||||||||||||||||||||||||||||||||
78.8 | 77.9 |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
IntraPac International LLC and IntraPac Canada Corporation (15) | Manufacturer of diversified packaging solutions and plastic injection molded products | First lien senior secured revolving loan ($7.7 par due 1/2025) | 6.00% (Libor + 5.75%/Q) | 1/11/2019 | 7.7 | 7.6 | (2) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($7.0 par due 1/2026) | 6.00% (Libor + 5.75%/Q) | 1/11/2019 | 7.0 | 6.8 | (2) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($21.4 par due 1/2026) | 6.00% (Libor + 5.75%/Q) | 1/11/2019 | 21.4 | 21.0 | (6) | |||||||||||||||||||||||||||||||||||||||
36.1 | 35.4 | |||||||||||||||||||||||||||||||||||||||||||
Nelipak Holding Company, Nelipak European Holdings Cooperatief U.A., KNPAK Holdings, LP and PAKNK Netherlands Treasury B.V. (15) | Manufacturer of thermoformed packaging for medical devices | First lien senior secured revolving loan ($0.3 par due 7/2024) | 5.25% (Libor + 4.25%/Q) | 7/2/2019 | 0.3 | 0.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($15.2 par due 7/2026) | 5.25% (Libor + 4.25%/Q) | 7/2/2019 | 15.2 | 14.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($5.6 par due 7/2026) | 4.50% (Euribor + 4.50%/Q) | 7/2/2019 | 5.2 | 5.4 | (2)(6) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($26.5 par due 7/2026) | 4.50% (Euribor + 4.50%/Q) | 8/8/2019 | 24.3 | 25.7 | (2)(6) | |||||||||||||||||||||||||||||||||||||||
Class A units (6,762,668 units) | 7/2/2019 | 6.8 | 4.7 | (2) | ||||||||||||||||||||||||||||||||||||||||
51.8 | 50.8 | |||||||||||||||||||||||||||||||||||||||||||
Novipax Buyer, L.L.C. and Novipax Parent Holding Company, L.L.C. | Developer and manufacturer of absorbent pads for food products | First lien senior secured loan ($24.1 par due 12/2026) | 6.75% (Libor + 5.75%/Q) | 12/1/2020 | 24.1 | 23.9 | (11) | |||||||||||||||||||||||||||||||||||||
Class A preferred units (4,772 units) | 10.00% PIK | 12/1/2020 | 4.8 | 4.8 | (2) | |||||||||||||||||||||||||||||||||||||||
Class C units (4,772 units) | 12/1/2020 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||||
28.9 | 28.7 | (2) | ||||||||||||||||||||||||||||||||||||||||||
Plaskolite PPC Intermediate II LLC and Plaskolite PPC Blocker LLC | Manufacturer of specialized acrylic and polycarbonate sheets | First lien senior secured loan ($12.2 par due 12/2025) | 5.25% (Libor + 4.25%/Q) | 12/14/2018 | 12.0 | 12.2 | (11) | |||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($55.7 par due 12/2026) | 8.75% (Libor + 7.75%/Q) | 12/14/2018 | 55.7 | 55.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Co-Invest units (5,969 units) | 12/14/2018 | 0.6 | 0.9 | (2) | ||||||||||||||||||||||||||||||||||||||||
68.3 | 68.8 | |||||||||||||||||||||||||||||||||||||||||||
SCI PH Parent, Inc. | Industrial container manufacturer, reconditioner and servicer | Series B shares (11.4764 shares) | 8/24/2018 | 1.1 | 1.0 | (2) | ||||||||||||||||||||||||||||||||||||||
TWH Infrastructure Industries, Inc. (15) | Provider of engineered products used in the trenchless rehabilitation of wastewater infrastructure | First lien senior secured revolving loan ($0.1 par due 4/2025) | 5.76% (Libor + 5.50%/Q) | 4/9/2019 | 0.1 | — | (2) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($6.5 par due 4/2025) | 5.76% (Libor + 5.50%/Q) | 4/9/2019 | 6.5 | 6.1 | (2) | |||||||||||||||||||||||||||||||||||||||
6.6 | 6.1 | |||||||||||||||||||||||||||||||||||||||||||
271.6 | 268.7 | 3.74% | ||||||||||||||||||||||||||||||||||||||||||
Pharmaceuticals, Biotechnology & Life Sciences | ||||||||||||||||||||||||||||||||||||||||||||
Alcami Corporation and ACM Holdings I, LLC (15) | Outsourced drug development services provider | First lien senior secured loan ($29.5 par due 7/2025) | 4.40% (Libor + 4.25%/M) | 7/12/2018 | 29.4 | 27.7 | (2) | |||||||||||||||||||||||||||||||||||||
Second lien senior secured loan ($77.5 par due 7/2026) | 8.15% (Libor + 8.00%/M) | 7/12/2018 | 77.0 | 67.4 | (2) | |||||||||||||||||||||||||||||||||||||||
Common units (3,663,533 units) | 7/12/2018 | 35.0 | 10.4 | (2) | ||||||||||||||||||||||||||||||||||||||||
141.4 | 105.5 | |||||||||||||||||||||||||||||||||||||||||||
NMC Skincare Intermediate Holdings II, LLC (15) | Developer, manufacturer and marketer of skincare products | First lien senior secured revolving loan ($5.8 par due 10/2024) | 6.00% (Libor + 5.00%/M) | 10/31/2018 | 5.8 | 5.6 | (2)(11)(14) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($24.4 par due 10/2024) | 6.00% (Libor + 5.00%/M) | 10/31/2018 | 24.4 | 23.7 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($8.2 par due 10/2024) | 6.00% (Libor + 5.00%/M) | 10/31/2018 | 8.2 | 8.0 | (11) | |||||||||||||||||||||||||||||||||||||||
38.4 | 37.3 | |||||||||||||||||||||||||||||||||||||||||||
North American Science Associates, Inc. and Cardinal Topco Holdings, L.P. (15) | Contract research organization providing research and development and testing of medical devices | First lien senior secured loan ($7.9 par due 9/2026) | 7.25% (Libor + 6.25%/Q) | 9/15/2020 | 7.9 | 7.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($48.4 par due 9/2026) | 7.25% (Libor + 6.25%/Q) | 9/15/2020 | 48.4 | 47.9 | (2)(11) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
Class A preferred units (15,431 units) | 8.00% PIK | 9/15/2020 | 15.8 | 22.0 | (2) | |||||||||||||||||||||||||||||||||||||||
72.1 | 77.7 | |||||||||||||||||||||||||||||||||||||||||||
TerSera Therapeutics LLC (15) | Acquirer and developer of specialty therapeutic pharmaceutical products | First lien senior secured revolving loan | 11/20/2019 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($5.1 par due 3/2025) | 6.60% (Libor + 5.60%/Q) | 5/3/2017 | 5.1 | 5.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($2.1 par due 3/2025) | 6.60% (Libor + 5.60%/Q) | 9/27/2018 | 2.1 | 2.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.8 par due 3/2025) | 6.60% (Libor + 5.60%/Q) | 4/1/2019 | 1.8 | 1.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
9.0 | 9.0 | |||||||||||||||||||||||||||||||||||||||||||
Vertice Pharma UK Parent Limited | Manufacturer and distributor of generic pharmaceutical products | Preferred shares (40,662 shares) | 12/21/2015 | 0.3 | 0.1 | (6) | ||||||||||||||||||||||||||||||||||||||
261.2 | 229.6 | 3.20% | ||||||||||||||||||||||||||||||||||||||||||
Household & Personal Products | ||||||||||||||||||||||||||||||||||||||||||||
Plantation Products, LLC, Seed Holdings, Inc. and Flora Parent, Inc. | Provider of branded lawn and garden products | Second lien senior secured loan ($66.0 par due 5/2023) | 9.25% (Libor + 8.25%/M) | 12/23/2014 | 65.9 | 66.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Common stock (30,000 shares) | 12/23/2014 | 3.0 | 9.4 | (2) | ||||||||||||||||||||||||||||||||||||||||
68.9 | 75.4 | |||||||||||||||||||||||||||||||||||||||||||
Rug Doctor, LLC and RD Holdco Inc. (5) | Manufacturer and marketer of carpet cleaning machines | Second lien senior secured loan ($19.6 par due 5/2023) | 11.25% (Libor + 9.75%/Q) | 1/3/2017 | 19.6 | 19.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Common stock (458,596 shares) | 1/3/2017 | 14.0 | — | |||||||||||||||||||||||||||||||||||||||||
Warrant to purchase up to 56,372 shares of common stock (expires 12/2023) | 1/3/2017 | — | — | |||||||||||||||||||||||||||||||||||||||||
33.6 | 19.6 | |||||||||||||||||||||||||||||||||||||||||||
Walnut Parent, Inc. | Manufacturer of natural solution pest and animal control products | First lien senior secured loan ($24.8 par due 11/2027) | 6.50% (Libor + 5.50%/M) | 11/9/2020 | 24.8 | 24.5 | (11) | |||||||||||||||||||||||||||||||||||||
127.3 | 119.5 | 1.66% | ||||||||||||||||||||||||||||||||||||||||||
Technology Hardware & Equipment | ||||||||||||||||||||||||||||||||||||||||||||
DRB Holdings, LLC (15) | Provider of integrated technology solutions to car wash operators | First lien senior secured loan ($23.2 par due 10/2023) | 6.50% (Libor + 5.50%/Q) | 10/6/2017 | 23.2 | 23.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($7.5 par due 10/2023) | 6.50% (Libor + 5.50%/Q) | 12/18/2020 | 7.5 | 7.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
30.7 | 30.7 | |||||||||||||||||||||||||||||||||||||||||||
Everspin Technologies, Inc. | Designer and manufacturer of computer memory solutions | Warrant to purchase up to 18,461 shares of common stock (expires 10/2026) | 10/7/2016 | 0.4 | — | (2) | ||||||||||||||||||||||||||||||||||||||
Micromeritics Instrument Corp. (15) | Scientific instrument manufacturer | First lien senior secured revolving loan ($4.0 par due 12/2025) | 6.00% (Libor + 5.00%/Q) | 12/18/2019 | 4.0 | 3.7 | (2)(11)(14) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($32.4 par due 12/2025) | 6.00% (Libor + 5.00%/Q) | 12/18/2019 | 32.4 | 30.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
36.4 | 34.1 | |||||||||||||||||||||||||||||||||||||||||||
Wildcat BuyerCo, Inc. and Wildcat Parent, LP (15) | Provider and supplier of electrical components for commercial and industrial applications | First lien senior secured revolving loan | 2/27/2020 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($18.3 par due 2/2026) | 6.25% (Libor + 5.25%/Q) | 2/27/2020 | 18.3 | 18.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($3.5 par due 2/2026) | 6.25% (Libor + 5.25%/Q) | 2/27/2020 | 3.5 | 3.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Limited partnership interests (17,655 interests) | 2/27/2020 | 1.8 | 2.2 | (2) | ||||||||||||||||||||||||||||||||||||||||
23.6 | 24.0 | |||||||||||||||||||||||||||||||||||||||||||
91.1 | 88.8 | 1.24% | ||||||||||||||||||||||||||||||||||||||||||
Education | ||||||||||||||||||||||||||||||||||||||||||||
Excelligence Holdings Corp. | Developer, manufacturer and retailer of educational products | First lien senior secured loan ($9.4 par due 4/2023) | 8.00% (Libor + 2.50% Cash, 4.50% PIK/Q) | 4/17/2017 | 9.4 | 7.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Flinn Scientific, Inc. and WCI-Quantum Holdings, Inc. (15) | Distributor of instructional products, services and resources | First lien senior secured revolving loan ($0.9 par due 8/2023) | 5.50% (Libor + 4.75%/Q) | 8/31/2018 | 0.9 | 0.8 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($30.3 par due 8/2023) | 5.50% (Libor + 4.75%/Q) | 7/26/2017 | 30.3 | 26.3 | (2)(11) |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.1 par due 8/2023) | 5.50% (Libor + 4.75%/Q) | 8/31/2018 | 1.1 | 1.0 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Series A preferred stock (1,272 shares) | 10/24/2014 | 0.7 | 0.9 | (2) | ||||||||||||||||||||||||||||||||||||||||
33.0 | 29.0 | |||||||||||||||||||||||||||||||||||||||||||
Infilaw Holding, LLC (15) | Operator of for-profit law schools | First lien senior secured revolving loan ($5.0 par due 9/2022) | 8/25/2011 | 4.2 | — | (2)(10)(14) | ||||||||||||||||||||||||||||||||||||||
Instituto de Banca y Comercio, Inc. & Leeds IV Advisors, Inc. | Private school operator | First lien senior secured loan ($17.3 par due 10/2022) | 10.50% (Libor + 9.00%/Q) | 3/12/2020 | 17.3 | 17.3 | (2)(11) | |||||||||||||||||||||||||||||||||||||
Senior preferred series A-1 shares (151,056 shares) | 10/31/2015 | 98.1 | 15.0 | (2) | ||||||||||||||||||||||||||||||||||||||||
Series B preferred stock (348,615 shares) | 8/5/2010 | 1.0 | — | (2) | ||||||||||||||||||||||||||||||||||||||||
Series B preferred stock (1,401,385 shares) | 8/5/2010 | 4.0 | — | (2) | ||||||||||||||||||||||||||||||||||||||||
Series C preferred stock (517,942 shares) | 6/7/2010 | 0.1 | — | (2) | ||||||||||||||||||||||||||||||||||||||||
Series C preferred stock (1,994,644 shares) | 6/7/2010 | 0.5 | — | (2) | ||||||||||||||||||||||||||||||||||||||||
Common stock (4 shares) | 6/7/2010 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||||
Common stock (16 shares) | 6/7/2010 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||||
121.0 | 32.3 | |||||||||||||||||||||||||||||||||||||||||||
Primrose Holding Corporation (4) | Franchisor of education-based early childhood centers | Common stock (7,227 shares) | 1/3/2017 | 4.6 | 14.1 | |||||||||||||||||||||||||||||||||||||||
172.2 | 83.0 | 1.16% | ||||||||||||||||||||||||||||||||||||||||||
Media & Entertainment | ||||||||||||||||||||||||||||||||||||||||||||
CMW Parent LLC (fka Black Arrow, Inc.) | Multiplatform media firm | Series A units (32 units) | 9/11/2015 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||
OUTFRONT Media Inc. | Provider of out-of-home advertising | Series A convertible perpetual preferred stock (25,000 shares) | 7.00% | 4/20/2020 | 25.0 | 35.7 | (2)(6) | |||||||||||||||||||||||||||||||||||||
Production Resource Group, L.L.C. and PRG III, LLC (4)(15) | Provider of rental equipment, labor, production management, scenery, and other products to various entertainment end-markets | First lien senior secured loan ($31.6 par due 8/2024) | 9.75% (Libor + 3.00% Cash, 5.50% PIK/Q) | 8/21/2018 | 31.6 | 31.6 | (2)(11) | |||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($9.1 par due 8/2024) | 8.50% (Libor + 5.00% Cash, 2.50% PIK/Q) | 7/31/2020 | 9.1 | 9.1 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
Class A units (113,617 units) | 10/6/2020 | 4.9 | 5.1 | (2) | ||||||||||||||||||||||||||||||||||||||||
45.6 | 45.8 | |||||||||||||||||||||||||||||||||||||||||||
The Teaching Company Holdings, Inc. | Education publications provider | Preferred stock (10,663 shares) | 9/29/2006 | 1.1 | 0.8 | (2) | ||||||||||||||||||||||||||||||||||||||
Common stock (15,393 shares) | 9/29/2006 | — | — | (2) | ||||||||||||||||||||||||||||||||||||||||
1.1 | 0.8 | |||||||||||||||||||||||||||||||||||||||||||
71.7 | 82.3 | 1.15% | ||||||||||||||||||||||||||||||||||||||||||
Telecommunication Services | ||||||||||||||||||||||||||||||||||||||||||||
Emergency Communications Network, LLC (15) | Provider of mission critical emergency mass notification solutions | First lien senior secured loan ($44.4 par due 6/2023) | 8.75% (Libor + 2.625% Cash, 5.125% PIK/Q) | 6/1/2017 | 44.3 | 39.5 | (2)(11) | |||||||||||||||||||||||||||||||||||||
44.3 | 39.5 | 0.55% | ||||||||||||||||||||||||||||||||||||||||||
Real Estate | ||||||||||||||||||||||||||||||||||||||||||||
BW Landco LLC (5) | Real estate developer | Membership interest (100%) | 7/5/2019 | 20.9 | 37.0 | |||||||||||||||||||||||||||||||||||||||
NECCO Realty Investments LLC (5) | Real estate holding company | Membership units (7,450 units) | 1/3/2017 | — | — | |||||||||||||||||||||||||||||||||||||||
20.9 | 37.0 | 0.51% | ||||||||||||||||||||||||||||||||||||||||||
Food & Staples Retailing | ||||||||||||||||||||||||||||||||||||||||||||
DecoPac, Inc. (15) | Supplier of cake decorating solutions and products to in-store bakeries | First lien senior secured revolving loan | 9/29/2017 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
FS Squared Holding Corp. and FS Squared, LLC (15) | Provider of on-site vending and micro market solutions | First lien senior secured revolving loan | 3/28/2019 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($1.4 par due 3/2025) | 5.40% (Libor + 5.25%/M) | 3/28/2019 | 1.4 | 1.4 | (2) | |||||||||||||||||||||||||||||||||||||||
Class A units (99,500 units) | 3/28/2019 | 10.0 | 11.1 | (2) | ||||||||||||||||||||||||||||||||||||||||
11.4 | 12.5 |
Company(1) | Business Description | Investment | Interest(3)(7) | Acquisition Date | Amortized Cost | Fair Value | Percentage of Net Assets | |||||||||||||||||||||||||||||||||||||
JWC/KI Holdings, LLC | Foodservice sales and marketing agency | Membership units (5,000 units) | 11/16/2015 | 5.0 | 4.6 | (2) | ||||||||||||||||||||||||||||||||||||||
SFE Intermediate Holdco LLC (15) | Provider of outsourced foodservice to K-12 school districts | First lien senior secured revolving loan | 7/31/2017 | — | — | (13) | ||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($10.2 par due 7/2024) | 6.25% (Libor + 5.25%/Q) | 9/5/2018 | 10.2 | 10.2 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
First lien senior secured loan ($6.4 par due 7/2024) | 6.25% (Libor + 5.25%/Q) | 7/31/2017 | 6.3 | 6.4 | (2)(11) | |||||||||||||||||||||||||||||||||||||||
16.5 | 16.6 | |||||||||||||||||||||||||||||||||||||||||||
VCP-EDC Co-Invest, LLC | Distributor of foodservice equipment and supplies | Membership units (2,970,000 units) | 6/9/2017 | 2.8 | 0.2 | |||||||||||||||||||||||||||||||||||||||
35.7 | 33.9 | 0.47% | ||||||||||||||||||||||||||||||||||||||||||
Total Investments | 15,914.2 | 15,515.1 | 216.19% |
Description | Notional Amount to be Purchased | Notional Amount to be Sold | Counterparty | Settlement Date | Unrealized Appreciation / (Depreciation) | ||||||
Foreign currency forward contract | $ | 3 | € | 2 | Bank of Montreal | January 5, 2017 | $ | — |
Description | Notional Amount to be Purchased | Notional Amount to be sold | Counterparty | Settlement Date | Unrealized Appreciation / (Depreciation) | ||||||||||||||||||
Forward currency contract | $ | 112 | CAD | 142 | Bank of Montreal | January 21, 2021 | $ | — | |||||||||||||||
Forward currency contract | $ | 102 | £ | 75 | Bank of Montreal | January 21, 2021 | (1) | ||||||||||||||||
Total | $ | (1) |
Description | Payment Terms | Counterparty | Maturity Date | Notional Amount | Value | Upfront Payments/Receipts | Unrealized Appreciation / (Depreciation) | |||||||||||||||||||
Interest rate swap | Pay Fixed 2.0642% | Receive Floating One-Month Libor of 0.19% | Bank of Montreal | January 4, 2021 | $ | 395 | $ | (1) | $ | — | $ | (1) | ||||||||||||||
Total | $ | (1) |
(2)These assets are pledged as collateral under the Company’s or the Company’s consolidated subsidiaries’ various revolving credit facilities and, as a result, are not directly |
For the Year Ended December 31, 2020 | As of December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) Company | Purchases (cost) | Redemptions (cost) | Sales (cost) | Interest income | Capital structuring service fees | Dividend income | Other income | Net realized gains (losses) | Net unrealized gains (losses) | Fair Value | ||||||||||||||||||||||||||||||||||||||||||||||||||||
APG Intermediate Holdings Corporation and APG Holdings, LLC | $ | 24.5 | $ | 0.1 | $ | 1.0 | $ | 0.9 | $ | 0.5 | $ | — | $ | — | $ | — | $ | 2.9 | $ | 26.2 | ||||||||||||||||||||||||||||||||||||||||||
Blue Angel Buyer 1, LLC and Blue Angel Holdco, LLC | $ | 7.5 | $ | 8.7 | $ | 1.3 | $ | 0.3 | $ | 0.1 | $ | 0.5 | $ | 0.1 | $ | (0.1) | $ | 18.4 | $ | 28.0 | ||||||||||||||||||||||||||||||||||||||||||
Blue Wolf Capital Fund II, L.P. | $ | — | $ | 1.6 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 3.8 | $ | (0.9) | $ | 0.2 | ||||||||||||||||||||||||||||||||||||||||||
Bragg Live Food Products, LLC and SPC Investment Co., L.P. | $ | 11.6 | $ | 3.1 | $ | — | $ | 2.2 | $ | 0.3 | $ | — | $ | 0.2 | $ | — | $ | 3.1 | $ | 55.3 | ||||||||||||||||||||||||||||||||||||||||||
Crown Health Care Laundry Services, LLC and Crown Laundry Holdings, LLC | $ | 14.0 | $ | 10.3 | $ | 22.1 | $ | 2.8 | $ | — | $ | — | $ | 0.2 | $ | (0.2) | $ | 5.9 | $ | 39.6 | ||||||||||||||||||||||||||||||||||||||||||
ESCP PPG Holdings, LLC | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.2 | $ | 3.1 | ||||||||||||||||||||||||||||||||||||||||||
European Capital UK SME Debt LP | $ | 2.3 | $ | 14.5 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1.6 | $ | 29.7 | ||||||||||||||||||||||||||||||||||||||||||
Ioxus, Inc. | $ | 1.7 | $ | 0.3 | $ | 8.6 | $ | — | $ | — | $ | — | $ | — | $ | (7.3) | $ | 3.3 | $ | — | ||||||||||||||||||||||||||||||||||||||||||
Panda Temple Power, LLC and T1 Power Holdings LLC | $ | — | $ | 6.2 | $ | — | $ | 0.9 | $ | — | $ | — | $ | — | $ | — | $ | 2.1 | $ | 18.6 | ||||||||||||||||||||||||||||||||||||||||||
PCG-Ares Sidecar Investment II, L.P. | $ | 0.1 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (2.6) | $ | 10.2 | ||||||||||||||||||||||||||||||||||||||||||
PCG-Ares Sidecar Investment, L.P. | $ | 0.1 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (3.8) | $ | 0.4 | ||||||||||||||||||||||||||||||||||||||||||
Primrose Holding Corporation | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (4.7) | $ | 14.1 | ||||||||||||||||||||||||||||||||||||||||||
Production Resource Group, L.L.C. and PRG III, LLC | $ | 5.9 | $ | — | $ | — | $ | 1.0 | $ | 0.2 | $ | — | $ | — | $ | — | $ | 1.8 | $ | 45.8 | ||||||||||||||||||||||||||||||||||||||||||
Shock Doctor, Inc. and Shock Doctor Holdings, LLC | $ | 1.5 | $ | 2.0 | $ | — | $ | 1.4 | $ | — | $ | — | $ | — | $ | — | $ | (4.4) | $ | 19.5 | ||||||||||||||||||||||||||||||||||||||||||
Totes Isotoner Corporation and Totes Ultimate Holdco, Inc. | $ | — | $ | — | $ | — | $ | 0.2 | $ | — | $ | — | $ | — | $ | — | $ | (4.3) | $ | 5.5 | ||||||||||||||||||||||||||||||||||||||||||
UL Holding Co., LLC | $ | — | $ | 20.5 | $ | 7.5 | $ | 2.1 | $ | — | $ | — | $ | — | $ | 20.1 | $ | (20.6) | $ | — | ||||||||||||||||||||||||||||||||||||||||||
$ | 69.2 | $ | 67.3 | $ | 40.5 | $ | 11.8 | $ | 1.1 | $ | 0.5 | $ | 0.5 | $ | 16.3 | $ | (2.0) | $ | 296.2 |
For the Year Ended December 31, 2020 | As of December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) Company | Purchases (cost) | Redemptions (cost) | Sales (cost) | Interest income | Capital structuring service fees | Dividend income | Other income | Net realized gains (losses) | Net unrealized gains (losses) | Fair Value | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Absolute Dental Group LLC and Absolute Dental Equity, LLC | $ | 9.0 | $ | — | $ | — | $ | 0.7 | $ | — | $ | — | $ | — | $ | — | $ | 0.6 | $ | 30.9 | ||||||||||||||||||||||||||||||||||||||||||
ACAS Equity Holdings Corporation | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
ADF Capital, Inc., ADF Restaurant Group, LLC, and ARG Restaurant Holdings, Inc. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
BW Landco LLC | $ | 1.0 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 10.7 | $ | 37.0 | ||||||||||||||||||||||||||||||||||||||||||
CoLTs 2005-1 Ltd. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
CoLTs 2005-2 Ltd. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
Eckler Industries, Inc. and Eckler Purchaser LLC | $ | 0.5 | $ | 3.5 | $ | — | $ | 3.1 | $ | — | $ | — | $ | 0.1 | $ | — | $ | 3.0 | $ | 25.2 | ||||||||||||||||||||||||||||||||||||||||||
Halex Holdings, Inc. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
HCI Equity, LLC | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.1 | $ | — | $ | — | $ | — | $ | 0.1 | ||||||||||||||||||||||||||||||||||||||||||
Heelstone Renewable Energy, LLC | $ | 23.0 | $ | 8.9 | $ | 41.5 | $ | 0.4 | $ | 0.2 | $ | — | $ | — | $ | (4.1) | $ | (0.7) | $ | 29.7 | ||||||||||||||||||||||||||||||||||||||||||
Imaging Business Machines, L.L.C. and Scanner Holdings Corporation | $ | 1.3 | $ | — | $ | — | $ | 2.6 | $ | — | $ | — | $ | 0.4 | $ | — | $ | 8.7 | $ | 44.5 | ||||||||||||||||||||||||||||||||||||||||||
Ivy Hill Asset Management, L.P. | $ | 175.0 | $ | 78.0 | $ | — | $ | 5.9 | $ | — | $ | 74.0 | $ | — | $ | — | $ | 10.7 | $ | 628.5 | ||||||||||||||||||||||||||||||||||||||||||
Joyce Lane Capital LLC and Joyce Lane Financing SPV LLC (fka Ciena Capital LLC) | $ | — | $ | 12.7 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 2.3 | $ | 9.8 | $ | 0.6 | ||||||||||||||||||||||||||||||||||||||||||
Miles 33 (Finance) Limited | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (0.2) | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
Montgomery Lane, LLC and Montgomery Lane, Ltd. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
MVL Group, Inc. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
Navisun LLC and Navisun Holdings LLC | $ | 9.1 | $ | — | $ | — | $ | 8.2 | $ | 0.1 | $ | 1.2 | $ | 0.2 | $ | — | $ | (1.8) | $ | 119.2 | ||||||||||||||||||||||||||||||||||||||||||
NECCO Holdings, Inc. and New England Confectionery Company, Inc. | $ | 0.7 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (0.7) | $ | 4.6 | ||||||||||||||||||||||||||||||||||||||||||
NECCO Realty Investments LLC | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
Pillar Processing LLC and PHL Investors, Inc. | $ | — | $ | 3.8 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (3.8) | $ | 3.8 | $ | — | ||||||||||||||||||||||||||||||||||||||||||
Rug Doctor, LLC and RD Holdco Inc. | $ | 0.9 | $ | — | $ | — | $ | 2.1 | $ | — | $ | — | $ | — | $ | — | $ | (5.1) | $ | 19.6 | ||||||||||||||||||||||||||||||||||||||||||
S Toys Holdings LLC (fka The Step2 Company, LLC) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.2 | $ | — | $ | — | $ | (0.6) | $ | 0.3 | ||||||||||||||||||||||||||||||||||||||||||
Senior Direct Lending Program, LLC | $ | 308.1 | $ | 94.0 | $ | — | $ | 127.2 | $ | 19.0 | $ | — | $ | 3.8 | $ | — | $ | — | $ | 1,122.9 | ||||||||||||||||||||||||||||||||||||||||||
Singer Sewing Company, SVP-Singer Holdings, LLC and SVP-Singer Holdings LP | $ | 35.5 | $ | 79.7 | $ | — | $ | 36.3 | $ | — | $ | — | $ | 0.2 | $ | 1.0 | $ | 102.1 | $ | 308.3 | ||||||||||||||||||||||||||||||||||||||||||
Startec Equity, LLC | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
VPROP Operating, LLC and V SandCo, LLC | $ | 5.3 | $ | — | $ | — | $ | 0.6 | $ | 0.2 | $ | — | $ | — | $ | — | $ | 1.6 | $ | 67.2 | ||||||||||||||||||||||||||||||||||||||||||
$ | 569.4 | $ | 280.6 | $ | 41.5 | $ | 187.1 | $ | 19.5 | $ | 75.5 | $ | 4.7 | $ | (4.8) | $ | 142.1 | $ | 2,438.6 |
(in millions) Company | Purchases (cost) | Redemptions (cost) | Sales (cost) | Interest income | Capital structuring service fees | Dividend income | Other income | Net realized gains (losses) | Net unrealized gains (losses) | |||||||||||||||||||||||||||
Campus Management Corp. and Campus Management Acquisition Corp. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1.0 | ||||||||||||||||||
Crown Health Care Laundry Services, Inc. and Crown Laundry Holdings, LLC | $ | 9.3 | $ | 4.1 | $ | 18.0 | $ | 1.2 | $ | 0.4 | $ | — | $ | — | $ | — | $ | (0.6 | ) | |||||||||||||||||
ESCP PPG Holdings, LLC | $ | 3.5 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
Investor Group Services, LLC | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.4 | $ | — | ||||||||||||||||||
Multi-Ad Services, Inc. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
Petroflow Energy Corporation and TexOak Petro Holdings LLC | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 3.4 | ||||||||||||||||||
Shock Doctor, Inc. and Shock Doctor Holdings, LLC | $ | — | $ | — | $ | — | $ | 10.5 | $ | — | $ | — | $ | — | $ | — | $ | (4.8 | ) | |||||||||||||||||
Things Remembered, Inc. and TRM Holdco Corp. | $ | 3.3 | $ | 3.3 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (2.1 | ) | |||||||||||||||||
UL Holding Co., LLC and Universal Lubricants, LLC | $ | — | $ | 45.3 | $ | — | $ | 3.8 | $ | — | $ | — | $ | — | $ | 13.2 | $ | 17.2 |
(in millions) Company | Purchases (cost) | Redemptions (cost) | Sales (cost) | Interest income | Capital structuring service fees | Dividend income | Other income | Net realized gains (losses) | Net unrealized gains (losses) | |||||||||||||||||||||||||||
10th Street, LLC and New 10th Street, LLC | $ | — | $ | — | $ | — | $ | 6.9 | $ | — | $ | — | $ | — | $ | — | $ | (9.2 | ) | |||||||||||||||||
ADF Capital, Inc., ADF Restaurant Group, LLC, and ARG Restaurant Holdings, Inc. | $ | 3.1 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (10.8 | ) | |||||||||||||||||
AllBridge Financial, LLC | $ | — | $ | 1.1 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 6.3 | $ | (6.5 | ) | |||||||||||||||||
Callidus Capital Corporation | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
Ciena Capital LLC | $ | — | $ | 12.0 | $ | — | $ | 1.5 | $ | — | $ | — | $ | — | $ | — | $ | 0.9 | ||||||||||||||||||
Community Education Centers, Inc. and CEC Parent Holdings LLC | $ | — | $ | — | $ | — | $ | 4.6 | $ | — | $ | — | $ | — | $ | — | $ | 18.9 | ||||||||||||||||||
Competitor Group, Inc., Calera XVI, LLC and Champion Parent Corporation | $ | 2.5 | $ | — | $ | — | $ | 1.7 | $ | — | $ | — | $ | — | $ | — | $ | (0.8 | ) | |||||||||||||||||
Crescent Hotels & Resorts, LLC and affiliates | $ | — | $ | — | $ | — | $ | 1.2 | $ | — | $ | — | $ | — | $ | 2.5 | $ | (2.7 | ) | |||||||||||||||||
HCI Equity, LLC | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
Industrial Air Tool, LP and Affiliates d/b/a Industrial Air Tool | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
Ivy Hill Asset Management, L.P. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 40.0 | $ | — | $ | — | $ | (6.3 | ) | |||||||||||||||||
Liquid Light, Inc. | $ | — | $ | 2.4 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (0.6 | ) | $ | — | |||||||||||||||||
MVL Group, Inc. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
Orion Foods, LLC | $ | — | $ | 6.4 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 3.1 | ||||||||||||||||||
PHL Investors, Inc., and PHL Holding Co. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
Senior Direct Lending Program, LLC* | $ | 271.6 | $ | 1.7 | $ | — | $ | 12.6 | $ | 4.9 | $ | — | $ | 0.7 | $ | — | $ | — | ||||||||||||||||||
Senior Secured Loan Fund LLC** | $ | 3.0 | $ | — | $ | — | $ | 208.0 | $ | 2.9 | $ | — | $ | 17.0 | $ | — | $ | 26.3 | ||||||||||||||||||
Startec Equity, LLC | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
The Greeley Company, Inc. and HCP Acquisition Holdings, LLC | $ | — | $ | 2.7 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 3.9 | $ | 3.1 | ||||||||||||||||||
The Step2 Company, LLC | $ | — | $ | 64.7 | $ | — | $ | 4.6 | $ | — | $ | — | $ | — | $ | 18.1 | $ | 24.4 |
(in millions) Company | Total revolving and delayed draw loan commitments | Less: drawn commitments | Total undrawn commitments | Less: commitments substantially at discretion of the Company | Less: unavailable commitments due to borrowing base or other covenant restrictions | Total net adjusted undrawn revolving and delayed draw commitments | |||||||||||||||||
Accruent, LLC | $ | 3.2 | $ | (0.3 | ) | $ | 2.9 | $ | — | $ | — | $ | 2.9 | ||||||||||
Acrisure, LLC | 9.7 | — | 9.7 | — | — | 9.7 | |||||||||||||||||
ADCS Clinics Intermediate Holdings, LLC | 5.0 | (1.7 | ) | 3.3 | — | — | 3.3 | ||||||||||||||||
ADG, LLC | 13.7 | (2.0 | ) | 11.7 | — | — | 11.7 | ||||||||||||||||
Aimbridge Hospitality, LLC | 2.4 | — | 2.4 | — | — | 2.4 | |||||||||||||||||
American Seafoods Group LLC | 22.1 | — | 22.1 | — | — | 22.1 | |||||||||||||||||
Benihana, Inc. | 3.2 | (2.1 | ) | 1.1 | — | — | 1.1 | ||||||||||||||||
CCS Intermediate Holdings, LLC | 7.5 | (7.3 | ) | 0.2 | — | — | 0.2 | ||||||||||||||||
CH Hold Corp. | 5.0 | (1.2 | ) | 3.8 | — | — | 3.8 | ||||||||||||||||
Chariot Acquisition, LLC | 1.0 | — | 1.0 | — | — | 1.0 | |||||||||||||||||
Ciena Capital LLC | 20.0 | (14.0 | ) | 6.0 | (6.0 | ) | — | — | |||||||||||||||
Clearwater Analytics, LLC | 5.0 | — | 5.0 | — | — | 5.0 | |||||||||||||||||
Competitor Group, Inc. | 5.7 | (5.5 | ) | 0.2 | — | — | 0.2 | ||||||||||||||||
Component Hardware Group, Inc. | 3.7 | (1.9 | ) | 1.8 | — | — | 1.8 | ||||||||||||||||
Crown Health Care Laundry Services, Inc. | 17.0 | (0.6 | ) | 16.4 | — | — | 16.4 | ||||||||||||||||
D4C Dental Brands, Inc. | 5.0 | — | 5.0 | — | — | 5.0 | |||||||||||||||||
DCA Investment Holding, LLC | 5.8 | (2.2 | ) | 3.6 | — | — | 3.6 | ||||||||||||||||
DTI Holdco, Inc. and OPE DTI Holdings, Inc. | 8.8 | — | 8.8 | — | — | 8.8 | |||||||||||||||||
Eckler Industries, Inc. | 4.0 | (2.0 | ) | 2.0 | — | — | 2.0 | ||||||||||||||||
EN Engineering, L.L.C. | 5.0 | — | 5.0 | — | — | 5.0 | |||||||||||||||||
Everspin Technologies, Inc. | 4.0 | (1.1 | ) | 2.9 | — | — | 2.9 | ||||||||||||||||
Faction Holdings, Inc. | 2.0 | (2.0 | ) | — | — | — | — | ||||||||||||||||
Garden Fresh Restaurant Corp. | 7.0 | (2.3 | ) | 4.7 | — | — | 4.7 | ||||||||||||||||
Gentle Communications, LLC | 5.0 | — | 5.0 | — | — | 5.0 | |||||||||||||||||
Greenphire, Inc. | 2.0 | — | 2.0 | — | — | 2.0 | |||||||||||||||||
Harvey Tool Company, LLC | 0.8 | — | 0.8 | — | — | 0.8 | |||||||||||||||||
Hygiena Borrower LLC | 1.9 | — | 1.9 | — | — | 1.9 |
(in millions) Company | Total revolving and delayed draw loan commitments | Less: drawn commitments | Total undrawn commitments | Less: commitments substantially at discretion of the Company | Less: unavailable commitments due to borrowing base or other covenant restrictions | Total net adjusted undrawn revolving and delayed draw commitments | |||||||||||||||||
ICSH, Inc. | 5.0 | (1.8 | ) | 3.2 | — | — | 3.2 | ||||||||||||||||
Infilaw Holding, LLC | 20.0 | (13.6 | ) | 6.4 | (6.4 | ) | — | — | |||||||||||||||
iPipeline, Inc. | 4.0 | — | 4.0 | — | — | 4.0 | |||||||||||||||||
Itel Laboratories, Inc. | 2.5 | — | 2.5 | — | — | 2.5 | |||||||||||||||||
K2 Pure Solutions Nocal, L.P. | 5.0 | (1.5 | ) | 3.5 | — | — | 3.5 | ||||||||||||||||
Lakeland Tours, LLC | 11.9 | (0.5 | ) | 11.4 | — | — | 11.4 | ||||||||||||||||
LBP Intermediate Holdings LLC | 0.9 | (0.1 | ) | 0.8 | — | — | 0.8 | ||||||||||||||||
Massage Envy, LLC | 5.0 | (3.5 | ) | 1.5 | — | — | 1.5 | ||||||||||||||||
McKenzie Sports Products, LLC | 4.5 | — | 4.5 | — | — | 4.5 | |||||||||||||||||
Ministry Brands LLC | 29.2 | (3.8 | ) | 25.4 | — | — | 25.4 | ||||||||||||||||
MW Dental Holding Corp. | 10.0 | (1.5 | ) | 8.5 | — | — | 8.5 | ||||||||||||||||
My Health Direct, Inc. | 1.0 | (0.5 | ) | 0.5 | — | — | 0.5 | ||||||||||||||||
Niagara Fiber Intermediate Corp. | 1.9 | (1.9 | ) | — | — | — | — | ||||||||||||||||
Nordco Inc | 11.3 | — | 11.3 | — | — | 11.3 | |||||||||||||||||
NSM Sub Holdings Corp. | 5.0 | (0.8 | ) | 4.2 | — | — | 4.2 | ||||||||||||||||
OmniSYS Acquisition Corporation | 2.5 | — | 2.5 | — | — | 2.5 | |||||||||||||||||
OTG Management, LLC | 22.2 | — | 22.2 | — | — | 22.2 | |||||||||||||||||
Paper Source, Inc. | 2.5 | — | 2.5 | — | — | 2.5 | |||||||||||||||||
Pegasus Intermediate Holdings, LLC | 5.0 | — | 5.0 | — | — | 5.0 | |||||||||||||||||
PIH Corporation | 3.3 | (0.6 | ) | 2.7 | — | — | 2.7 | ||||||||||||||||
QC Supply, LLC | 28.1 | (2.3 | ) | 25.8 | — | — | 25.8 | ||||||||||||||||
Restaurant Technologies, Inc. | 5.4 | (0.7 | ) | 4.7 | — | — | 4.7 | ||||||||||||||||
RuffaloCODY, LLC | 7.7 | (0.2 | ) | 7.5 | — | — | 7.5 | ||||||||||||||||
Severin Acquisition, LLC | 2.9 | — | 2.9 | — | — | 2.9 | |||||||||||||||||
Shift PPC LLC | 1.5 | — | 1.5 | — | — | 1.5 | |||||||||||||||||
Sonny’s Enterprises, LLC | 1.8 | — | 1.8 | — | — | 1.8 | |||||||||||||||||
Things Remembered, Inc. | 2.8 | — | 2.8 | — | — | 2.8 | |||||||||||||||||
Towne Holdings, Inc. | 1.0 | — | 1.0 | — | — | 1.0 | |||||||||||||||||
TPTM Merger Corp. | 2.5 | (1.3 | ) | 1.2 | — | — | 1.2 | ||||||||||||||||
Urgent Cares of America Holdings I, LLC | 16.0 | — | 16.0 | — | — | 16.0 | |||||||||||||||||
Zemax, LLC | 3.0 | — | 3.0 | — | — | 3.0 | |||||||||||||||||
Zywave, Inc. | 10.5 | — | 10.5 | — | — | 10.5 | |||||||||||||||||
$ | 411.4 | $ | (80.8 | ) | $ | 330.6 | $ | (12.4 | ) | $ | — | $ | 318.2 |
(in millions) Portfolio Company | Total revolving and delayed draw loan commitments | Less: funded commitments | Total unfunded commitments | Less: commitments substantially at discretion of the Company | Less: unavailable commitments due to borrowing base or other covenant restrictions | Total net adjusted unfunded revolving and delayed draw commitments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
A.U.L. Corp. | $ | 1.2 | $ | — | $ | 1.2 | $ | — | $ | — | $ | 1.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Absolute Dental Group LLC | 14.0 | — | 14.0 | — | — | 14.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accommodations Plus Technologies LLC | 4.1 | (4.1) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ADCS Clinics Intermediate Holdings, LLC | 5.0 | (4.8) | 0.2 | — | — | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ADG, LLC | 14.0 | (7.7) | 6.3 | — | — | 6.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AEP Holdings, Inc. | 1.0 | — | 1.0 | — | — | 1.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AffiniPay Midco, LLC | 9.0 | (0.1) | 8.9 | — | — | 8.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alcami Corporation | 29.0 | — | 29.0 | — | — | 29.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alita Care, LLC (fka KBHS Acquisition, LLC) | 5.0 | — | 5.0 | — | — | 5.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AMCP Clean Intermediate, LLC | 6.1 | (1.8) | 4.3 | — | — | 4.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
American Residential Services L.L.C. | 7.5 | (1.9) | 5.6 | — | — | 5.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Anaqua Parent Holdings, Inc. | 0.1 | — | 0.1 | — | — | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APG Intermediate Holdings Corporation | 9.6 | — | 9.6 | — | — | 9.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Apptio, Inc. | 4.2 | — | 4.2 | — | — | 4.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AQ Sunshine, Inc. | 1.3 | — | 1.3 | — | — | 1.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ardonagh Midco 3 PLC | 12.1 | — | 12.1 | — | — | 12.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Athenahealth, Inc. | 33.1 | — | 33.1 | — | — | 33.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ATI Restoration, LLC | 21.7 | (0.8) | 20.9 | — | — | 20.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Atlas Intermediate III L.L.C. | 0.1 | — | 0.1 | — | — | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Avetta, LLC | 4.2 | — | 4.2 | — | — | 4.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Banyan Software Holdings, LLC | 12.4 | — | 12.4 | — | — | 12.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bearcat Buyer, Inc. | 32.8 | (0.1) | 32.7 | — | — | 32.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Belfor Holdings, Inc. | 25.0 | — | 25.0 | — | — | 25.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Benecon Midco II LLC | 7.5 | (1.8) | 5.7 | — | — | 5.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Blue Angel Buyer 1, LLC | 5.5 | — | 5.5 | — | — | 5.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Blue Campaigns Intermediate Holding Corp. | 3.0 | (0.7) | 2.3 | — | — | 2.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bragg Live Food Products LLC | 4.4 | (1.2) | 3.2 | — | — | 3.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cadence Aerospace, LLC | 14.7 | (14.7) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capstone Acquisition Holdings, Inc. | 30.3 | (10.8) | 19.5 | — | — | 19.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cardinal Parent, Inc. | 5.0 | — | 5.0 | — | — | 5.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CCS-CMGC Holdings, Inc. | 12.0 | (3.6) | 8.4 | — | — | 8.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Center for Autism and Related Disorders, LLC | 8.5 | (8.5) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Centric Brands LLC | 7.9 | (3.0) | 4.9 | — | — | 4.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cipriani USA, Inc. | 17.4 | — | 17.4 | — | — | 17.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Clearwater Analytics, LLC | 8.2 | — | 8.2 | — | — | 8.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive EyeCare Partners, LLC | 2.3 | (1.3) | 1.0 | (0.4) | — | 0.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Concert Golf Partners Holdco LLC | 3.1 | — | 3.1 | — | — | 3.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cority Software Inc. | 0.1 | — | 0.1 | — | — | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cozzini Bros., Inc. | 15.0 | (3.6) | 11.4 | — | — | 11.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Creation Holdings Inc. | 13.2 | (4.8) | 8.4 | — | — | 8.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Crown Health Care Laundry Services, Inc. | 10.0 | (0.9) | 9.1 | — | — | 9.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CST Buyer Company | 6.1 | — | 6.1 | — | — | 6.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CVP Holdco, Inc. | 15.7 | — | 15.7 | — | — | 15.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DCA Investment Holding LLC | 5.8 | (5.8) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DecoPac, Inc. | 8.1 | (0.9) | 7.2 | — | — | 7.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DFC Global Facility Borrower III LLC | 152.5 | (114.4) | 38.1 | — | — | 38.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Diligent Corporation | 10.2 | — | 10.2 | — | — | 10.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Divisions Holding Corporation | 15.3 | (2.5) | 12.8 | — | — | 12.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dorner Holding Corp. | 3.3 | — | 3.3 | — | 3.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DRB Holdings, LLC | 9.9 | — | 9.9 | — | — | 9.9 |
(in millions) Portfolio Company | Total revolving and delayed draw loan commitments | Less: funded commitments | Total unfunded commitments | Less: commitments substantially at discretion of the Company | Less: unavailable commitments due to borrowing base or other covenant restrictions | Total net adjusted unfunded revolving and delayed draw commitments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DRS Holdings III, Inc. | 6.8 | — | 6.8 | — | — | 6.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DTI Holdco, Inc. | 7.9 | (4.9) | 3.0 | — | — | 3.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dynamic NC Aerospace Holdings, LLC | 10.1 | (0.7) | 9.4 | — | — | 9.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Eckler Industries, Inc. | 5.6 | (2.7) | 2.9 | — | — | 2.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Elemica Parent, Inc. | 25.2 | (3.4) | 21.8 | (14.9) | — | 6.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Elevation Services Parent Holdings, LLC | 14.2 | (0.4) | 13.8 | — | — | 13.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Emergency Communications Network, LLC | 6.5 | — | 6.5 | — | — | 6.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
EP Purchaser, LLC. | 22.4 | — | 22.4 | — | — | 22.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
EP Wealth Advisors, LLC | 0.6 | — | 0.6 | — | — | 0.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Episerver, Inc. | 9.5 | — | 9.5 | — | — | 9.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
eResearch Technology, Inc. | 5.1 | — | 5.1 | — | — | 5.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Essential Services Holding Corporation | 43.4 | (0.7) | 42.7 | — | — | 42.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Evolent Health LLC | 44.8 | — | 44.8 | — | — | 44.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ferraro Fine Foods Corp. | 8.0 | — | 8.0 | — | — | 8.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Flinn Scientific, Inc. | 10.0 | (0.9) | 9.1 | — | — | 9.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Flow Control Solutions, Inc. | 10.0 | — | 10.0 | — | — | 10.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FM:Systems Group, LLC | 1.5 | (1.5) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forescout Technologies, Inc. | 0.1 | — | 0.1 | — | — | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foundation Risk Partners, Corp. | 54.8 | — | 54.8 | — | — | 54.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FS Squared Holding Corp. | 9.7 | (0.3) | 9.4 | — | — | 9.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FWR Holding Corporation | 2.2 | — | 2.2 | — | (0.1) | 2.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Garden Fresh Restaurant Corp. | 7.5 | (6.9) | 0.6 | — | (0.6) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GB Auto Service, Inc. | 18.8 | (3.8) | 15.0 | — | (3.6) | 11.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Genesis Acquisition Co. | 1.5 | (1.5) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GraphPAD Software, LLC | 1.1 | — | 1.1 | — | — | 1.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Green Street Parent, LLC | 0.3 | — | 0.3 | — | — | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GSM Acquisition Corp. | 5.2 | — | 5.2 | — | — | 5.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GTCR-Ultra Acquisition, Inc. | 2.0 | — | 2.0 | — | — | 2.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HAI Acquisition Corporation | 19.0 | — | 19.0 | — | — | 19.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Harvey Tool Company, LLC | 13.5 | (0.1) | 13.4 | — | — | 13.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HealthEdge Software, Inc. | 4.1 | — | 4.1 | — | — | 4.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Heelstone Renewable Energy, LLC | 21.1 | — | 21.1 | — | — | 21.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Help/Systems Holdings, Inc. | 7.5 | — | 7.5 | — | — | 7.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Highline Aftermarket Acquisition, LLC | 12.5 | (9.5) | 3.0 | — | — | 3.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hometown Food Company | 3.9 | (0.5) | 3.4 | — | — | 3.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Huskies Parent, Inc. | 3.3 | (0.6) | 2.7 | — | — | 2.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hygiena Borrower LLC | 7.4 | — | 7.4 | — | — | 7.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
IMIA Holdings, Inc. | 9.9 | (0.5) | 9.4 | — | — | 9.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Infilaw Corporation | 5.7 | (5.7) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Infinite Electronics International, Inc. | 3.0 | — | 3.0 | — | — | 3.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Infogix, Inc. | 5.3 | (5.3) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
IntraPac International LLC | 19.2 | (7.7) | 11.5 | — | — | 11.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invoice Cloud, Inc. | 4.9 | (0.9) | 4.0 | — | — | 4.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
JDC Healthcare Management, LLC | 4.1 | (0.8) | 3.3 | — | (3.3) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jim N Nicks Management LLC | 4.9 | (4.9) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Joyce Lane Financing SPV LLC | 1.4 | — | 1.4 | — | — | 1.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
K2 Insurance Services, LLC | 4.7 | — | 4.7 | — | — | 4.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Kellermeyer Bergensons Services, LLC | 7.4 | — | 7.4 | — | — | 7.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Kene Acquisition, Inc. | 8.9 | (0.1) | 8.8 | — | — | 8.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Laboratories Bidco LLC | 11.8 | — | 11.8 | — | — | 11.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Majesco and Magic Topco, L.P. | 5.0 | (0.6) | 4.4 | — | — | 4.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Manna Pro Products, LLC | 10.0 | — | 10.0 | — | — | 10.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Masergy Holdings, Inc. | 2.5 | — | 2.5 | — | — | 2.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mavis Tire Express Services Corp. | 11.3 | — | 11.3 | — | — | 11.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MB2 Dental Solutions, LLC | 4.6 | (2.9) | 1.7 | — | — | 1.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
McKenzie Creative Brands, LLC | 4.5 | — | 4.5 | — | — | 4.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Micromeritics Instrument Corp. | 4.1 | (4.1) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minerva Surgical, Inc. | 9.9 | — | 9.9 | — | — | 9.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ministry Brands, LLC | 10.9 | — | 10.9 | — | — | 10.9 |
(in millions) Portfolio Company | Total revolving and delayed draw loan commitments | Less: funded commitments | Total unfunded commitments | Less: commitments substantially at discretion of the Company | Less: unavailable commitments due to borrowing base or other covenant restrictions | Total net adjusted unfunded revolving and delayed draw commitments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Movati Athletic (Group) Inc. | 0.9 | — | 0.9 | (0.9) | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MRI Software LLC | 9.0 | — | 9.0 | — | — | 9.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MSHC, Inc. | 2.6 | (0.6) | 2.0 | — | — | 2.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
n2y Holding, LLC | 0.1 | — | 0.1 | — | — | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NAS, LLC | 3.0 | — | 3.0 | — | — | 3.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
National Intergovernmental Purchasing Alliance Company | 9.0 | — | 9.0 | — | — | 9.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Navisun LLC | 18.1 | — | 18.1 | — | — | 18.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NCWS Intermediate, Inc. | 43.0 | — | 43.0 | — | — | 43.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NECCO Holdings, Inc. | 25.0 | (19.9) | 5.1 | (5.1) | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nelipak Holding Company | 0.6 | (0.3) | 0.3 | — | — | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NMC Skincare Intermediate Holdings II, LLC | 9.1 | (6.9) | 2.2 | — | — | 2.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NMN Holdings III Corp | 12.5 | (1.1) | 11.4 | — | — | 11.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nordco Inc. | 10.0 | — | 10.0 | — | — | 10.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
North American Science Associates, Inc. | 11.0 | — | 11.0 | — | — | 11.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NueHealth Performance, LLC | 3.3 | — | 3.3 | — | — | 3.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Olympia Acquisition, Inc. | 10.8 | (10.1) | 0.7 | — | — | 0.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
OneDigital Borrower LLC | 7.5 | — | 7.5 | — | — | 7.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
OTG Management, LLC | 10.1 | (10.1) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pathway Vet Alliance LLC | 1.9 | — | 1.9 | — | — | 1.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PaySimple, Inc. | 21.1 | (0.1) | 21.0 | — | — | 21.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PDI TA Holdings, Inc. | 7.6 | — | 7.6 | — | — | 7.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pegasus Global Enterprise Holdings, LLC | 45.9 | — | 45.9 | — | — | 45.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Perforce Software, Inc. | 0.5 | (0.1) | 0.4 | — | — | 0.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Petroleum Service Group LLC | 21.2 | (1.1) | 20.1 | — | — | 20.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PosiGen Backleverage, LLC | 3.6 | — | 3.6 | — | — | 3.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Premise Health Holding Corp. | 36.0 | (13.6) | 22.4 | — | — | 22.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group, LLC | 5.6 | — | 5.6 | — | — | 5.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Project Potter Buyer, LLC | 5.5 | — | 5.5 | — | — | 5.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Project Silverback Holdings Corp. | 6.5 | (0.1) | 6.4 | — | — | 6.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pyramid Management Advisors, LLC | 10.9 | (9.5) | 1.4 | (1.4) | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
QC Supply, LLC | 10.0 | (10.0) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
QF Holdings, Inc. | 5.0 | — | 5.0 | — | — | 5.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Radius Aerospace, Inc. | 2.9 | (1.3) | 1.6 | — | — | 1.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Raptor Technologies, LLC | 4.7 | (0.8) | 3.9 | (3.0) | — | 0.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reddy Ice LLC | 8.2 | — | 8.2 | (3.6) | — | 4.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Redwood Services LLC | 8.3 | — | 8.3 | — | — | 8.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reef Lifestyle, LLC | 32.2 | (8.6) | 23.6 | — | — | 23.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retriever Medical/Dental Payments LLC | 3.5 | — | 3.5 | — | — | 3.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rialto Management Group, LLC | 1.0 | (0.2) | 0.8 | — | — | 0.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RSC Acquisition, Inc. | 0.6 | — | 0.6 | — | — | 0.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RTI Surgical, Inc. | 15.9 | — | 15.9 | — | — | 15.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Safe Home Security, Inc. | 9.9 | — | 9.9 | — | — | 9.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Saldon Holdings, Inc. | 2.3 | — | 2.3 | — | — | 2.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SCIH Salt Holdings Inc. | 7.5 | (2.6) | 4.9 | — | — | 4.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SCM Insurance Services Inc. | 4.2 | — | 4.2 | — | — | 4.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SCSG EA Acquisition Company, Inc. | 4.0 | (0.2) | 3.8 | — | — | 3.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SecurAmerica, LLC | 3.4 | — | 3.4 | — | — | 3.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Severin Acquisition, LLC | 9.0 | (2.0) | 7.0 | — | — | 7.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SFE Intermediate HoldCo LLC | 10.2 | (0.1) | 10.1 | — | — | 10.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shock Doctor, Inc. | 2.5 | (1.6) | 0.9 | — | — | 0.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sigma Electric Manufacturing Corporation | 7.5 | (2.9) | 4.6 | — | — | 4.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SiroMed Physician Services, Inc. | 7.1 | — | 7.1 | — | 7.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SM Wellness Holdings, Inc. | 9.1 | — | 9.1 | — | — | 9.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SOS Security Holdings, LLC | 0.5 | (0.3) | 0.2 | — | — | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sovos Brands Intermediate, Inc. | 4.3 | — | 4.3 | — | — | 4.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SpareFoot, LLC | 1.4 | (1.4) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Spectra Finance, LLC | 24.1 | (15.3) | 8.8 | — | — | 8.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Spring Insurance Solutions, LLC | 6.3 | — | 6.3 | — | — | 6.3 |
(in millions) Portfolio Company | Total revolving and delayed draw loan commitments | Less: funded commitments | Total unfunded commitments | Less: commitments substantially at discretion of the Company | Less: unavailable commitments due to borrowing base or other covenant restrictions | Total net adjusted unfunded revolving and delayed draw commitments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SSE Buyer, Inc. | 6.5 | — | 6.5 | — | — | 6.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Star US Bidco LLC | 8.5 | (0.1) | 8.4 | — | — | 8.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Storm US Holdco, Inc. | 1.1 | (0.2) | 0.9 | — | — | 0.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sunshine Sub, LLC | 5.8 | — | 5.8 | — | — | 5.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Singer Sewing Company | 1.4 | (1.4) | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Symplr Software Inc. | 10.0 | — | 10.0 | — | — | 10.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Synergy HomeCare Franchising, LLC | 4.2 | (0.1) | 4.1 | — | — | 4.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TA/WEG Holdings, LLC | 3.8 | — | 3.8 | — | — | 3.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Taymax Group, L.P. | 2.1 | (1.3) | 0.8 | — | (0.4) | 0.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TCP Hawker Intermediate LLC | 7.6 | — | 7.6 | — | — | 7.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TDG Group Holding Company | 0.3 | (0.1) | 0.2 | — | — | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TerSera Therapeutics LLC | 0.1 | — | 0.1 | — | — | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Alaska Club Partners, LLC, Athletic Club Partners LLC and The Alaska Club, Inc. | 1.1 | — | 1.1 | — | — | 1.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Ultimate Software Group, Inc. | 10.0 | (0.1) | 9.9 | — | — | 9.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Ultimus Group Midco, LLC | 6.9 | (4.0) | 2.9 | — | — | 2.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theranest, LLC | 10.9 | — | 10.9 | — | — | 10.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
THG Acquisition, LLC | 33.1 | — | 33.1 | — | — | 33.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TWH Infrastructure Industries, Inc. | 0.1 | (0.1) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. Acute Care Solutions, LLC | 1.7 | — | 1.7 | — | — | 1.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
United Digestive MSO Parent, LLC | 14.8 | — | 14.8 | — | — | 14.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vela Trading Technologies LLC | 3.5 | (3.5) | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Verscend Holding Corp. | 22.5 | (0.1) | 22.4 | — | — | 22.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
VLS Recovery Services, LLC | 19.8 | (0.3) | 19.5 | — | — | 19.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
VPROP Operating, LLC | 8.0 | — | 8.0 | — | — | 8.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
VRC Companies, LLC | 1.5 | — | 1.5 | — | — | 1.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
VS Buyer, LLC | 8.1 | — | 8.1 | — | — | 8.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Watchfire Enterprises, Inc. | 2.0 | — | 2.0 | — | — | 2.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
WebPT, Inc. | 6.1 | — | 6.1 | — | — | 6.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wildcat BuyerCo, Inc. | 10.3 | — | 10.3 | — | — | 10.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
WSHP FC Acquisition LLC | 11.3 | (3.3) | 8.0 | — | — | 8.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Xifin, Inc. | 7.3 | — | 7.3 | — | — | 7.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Zemax Software Holdings, LLC | 4.1 | (2.0) | 2.1 | — | — | 2.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 2,020.6 | $ | (409.1) | $ | 1,611.5 | $ | (29.3) | $ | (8.0) | $ | 1,574.2 |
(in millions) Company | Total private equity commitments | Less: funded private equity commitments | Total unfunded private equity commitments | Less: private equity commitments substantially at the discretion of the Company | Total net adjusted unfunded private equity commitments | ||||||||||||
PCG-Ares Sidecar Investment, L.P. and PCG-Ares Sidecar Investment II, L.P. | $ | 50.0 | $ | (12.4) | $ | 37.6 | $ | (37.6) | $ | — | |||||||
European Capital UK SME Debt LP | 61.5 | (55.7) | 5.8 | (5.8) | — | ||||||||||||
$ | 111.5 | $ | (68.1) | $ | 43.4 | $ | (43.4) | $ | — |
(in millions) Company | Total private equity commitments | Less: funded private equity commitments | Total unfunded private equity commitments | Less: private equity commitments substantially at the discretion of the Company | Total net adjusted unfunded private equity commitments | ||||||||||
Partnership Capital Growth Investors III, L.P. | $ | 5.0 | $ | (4.2 | ) | $ | 0.8 | $ | — | $ | 0.8 | ||||
PCG-Ares Sidecar Investment, L.P. and PCG-Ares Sidecar Investment II, L.P. | 50.0 | (10.9 | ) | 39.1 | (39.1 | ) | — | ||||||||
Piper Jaffray Merchant Banking Fund I, L.P. | 2.0 | (1.7 | ) | 0.3 | — | 0.3 | |||||||||
$ | 57.0 | $ | (16.8 | ) | $ | 40.2 | $ | (39.1 | ) | $ | 1.1 |
Common Stock | Capital in Excess of Par Value | Accumulated Undistributed (Overdistributed) Net Investment Income | Accumulated Net Realized Gains on Investments, Foreign Currency Transactions, Extinguishment of Debt and Other Assets | Net Unrealized Losses on Investments, Foreign Currency and Other Transactions | Total Stockholders’ Equity | |||||||||||||||||||||
Shares | Amount | |||||||||||||||||||||||||
Balance at December 31, 2016 | 314 | $ | — | $ | 5,292 | $ | 37 | $ | 57 | $ | (221 | ) | $ | 5,165 | ||||||||||||
Issuance of common stock in connection with the American Capital Acquisition | 112 | — | 1,839 | — | — | — | 1,839 | |||||||||||||||||||
Deemed contribution from Ares Capital Management (See Note 14) | — | — | 54 | — | — | — | 54 | |||||||||||||||||||
Shares issued in connection with dividend reinvestment plan | — | — | 6 | — | — | — | 6 | |||||||||||||||||||
Issuances of Convertible Unsecured Notes (See Note 5) | — | — | 15 | — | — | — | 15 | |||||||||||||||||||
Net increase in stockholders’ equity resulting from operations | — | — | — | 371 | 143 | (79 | ) | 435 | ||||||||||||||||||
Dividends declared and payable ($1.14 per share) | — | — | — | (486 | ) | — | — | (486 | ) | |||||||||||||||||
Balance at September 30, 2017 | 426 | $ | — | $ | 7,206 | $ | (78 | ) | $ | 200 | $ | (300 | ) | $ | 7,028 |
Common Stock | Capital in Excess of Par Value | Accumulated Undistributed (Overdistributed) Earnings | Total Stockholders’ Equity | ||||||||||||||||||||||||||
Shares | Amount | ||||||||||||||||||||||||||||
Balance at December 31, 2019 | 431 | $ | — | $ | 7,760 | $ | (293) | $ | 7,467 | ||||||||||||||||||||
Repurchases of common stock | (8) | — | (100) | — | (100) | ||||||||||||||||||||||||
Net investment income | — | — | — | 234 | 234 | ||||||||||||||||||||||||
Net realized gains on investments, foreign currency and other transactions | — | — | — | 34 | 34 | ||||||||||||||||||||||||
Net unrealized losses on investments, foreign currency and other transactions | — | — | — | (880) | (880) | ||||||||||||||||||||||||
Dividends declared and payable ($0.40 per share) | — | — | — | (172) | (172) | ||||||||||||||||||||||||
Balance at March 31, 2020 | 423 | $ | — | $ | 7,660 | $ | (1,077) | $ | 6,583 | ||||||||||||||||||||
Net investment income | — | — | — | 165 | 165 | ||||||||||||||||||||||||
Net realized gains on investments, foreign currency and other transactions | — | — | — | 8 | 8 | ||||||||||||||||||||||||
Net unrealized gains on investments, foreign currency and other transactions | — | — | — | 104 | 104 | ||||||||||||||||||||||||
Dividends declared and payable ($0.40 per share) | — | — | — | (169) | (169) | ||||||||||||||||||||||||
Balance at June 30, 2020 | 423 | $ | — | $ | 7,660 | $ | (969) | $ | 6,691 | ||||||||||||||||||||
Net investment income | — | — | — | 166 | 166 | ||||||||||||||||||||||||
Net realized losses on investments, foreign currency and other transactions | — | — | — | (25) | (25) | ||||||||||||||||||||||||
Net unrealized gains on investments, foreign currency and other transactions | — | — | — | 300 | 300 | ||||||||||||||||||||||||
Dividends declared and payable ($0.40 per share) | — | — | — | (169) | (169) | ||||||||||||||||||||||||
Balance at September 30, 2020 | 423 | $ | — | $ | 7,660 | $ | (697) | $ | 6,963 | ||||||||||||||||||||
Issuances of common stock (net of offering and underwriting costs) | — | — | 4 | — | 4 | ||||||||||||||||||||||||
Net investment income | — | — | — | 229 | 229 | ||||||||||||||||||||||||
Net realized losses on investments, foreign currency and other transactions | — | — | — | (183) | (183) | ||||||||||||||||||||||||
Net unrealized gains on investments, foreign currency and other transactions | — | — | — | 332 | 332 | ||||||||||||||||||||||||
Dividends declared and payable ($0.40 per share) | — | — | — | (169) | (169) | ||||||||||||||||||||||||
Tax reclassification of stockholders’ equity in accordance with GAAP | — | — | (8) | 8 | — | ||||||||||||||||||||||||
Balance at December 31, 2020 | 423 | $ | — | $ | 7,656 | $ | (480) | $ | 7,176 | ||||||||||||||||||||
Issuances of common stock (net of offering and underwriting costs) | 14 | — | 249 | — | 249 | ||||||||||||||||||||||||
Shares issued in connection with dividend reinvestment plan | — | — | 9 | — | 9 | ||||||||||||||||||||||||
Net investment income | — | — | — | 144 | 144 | ||||||||||||||||||||||||
Net realized gains on investments, foreign currency, extinguishment of debt and other transactions | — | — | — | 16 | 16 | ||||||||||||||||||||||||
Net unrealized gains on investments, foreign currency and other transactions | — | — | — | 213 | 213 | ||||||||||||||||||||||||
Dividends declared and payable ($0.40 per share) | — | — | — | (175) | (175) | ||||||||||||||||||||||||
Balance at March 31, 2021 | 437 | $ | — | $ | 7,914 | $ | (282) | $ | 7,632 | ||||||||||||||||||||
Issuances of common stock (net of offering and underwriting costs) | 7 | — | 135 | — | 135 | ||||||||||||||||||||||||
Shares issued in connection with dividend reinvestment plan | 1 | — | 10 | — | 10 | ||||||||||||||||||||||||
Net investment income | — | — | — | 171 | 171 | ||||||||||||||||||||||||
Net realized gains on investments, foreign currency, extinguishment of debt and other transactions | — | — | — | 59 | 59 | ||||||||||||||||||||||||
Net unrealized gains on investments, foreign currency and other transactions | — | — | — | 248 | 248 | ||||||||||||||||||||||||
Dividends declared and payable ($0.40 per share) | — | — | — | (177) | (177) | ||||||||||||||||||||||||
Balance at June 30, 2021 | 445 | $ | — | $ | 8,059 | $ | 19 | $ | 8,078 | ||||||||||||||||||||
Issuances of common stock (net of offering and underwriting costs) | 15 | — | 304 | — | 304 | ||||||||||||||||||||||||
Shares issued in connection with dividend reinvestment plan | 1 | — | 10 | — | 10 | ||||||||||||||||||||||||
Net investment income | — | — | — | 184 | 184 | ||||||||||||||||||||||||
Net realized gains on investments, foreign currency, extinguishment of debt and other transactions | — | — | — | 149 | 149 | ||||||||||||||||||||||||
Net unrealized gains on investments, foreign currency, extinguishment of debt and other transactions | — | — | — | 1 | 1 | ||||||||||||||||||||||||
Dividends declared and payable ($0.41 per share) | — | — | — | (189) | (189) | ||||||||||||||||||||||||
Balance at September 30, 2021 | 461 | $ | — | $ | 8,373 | $ | 164 | $ | 8,537 |
For the Nine Months Ended September 30, | |||||||
2017 | 2016 | ||||||
OPERATING ACTIVITIES: | |||||||
Net increase in stockholders’ equity resulting from operations | $ | 435 | $ | 399 | |||
Adjustments to reconcile net increase in stockholders’ equity resulting from operations: | |||||||
Net realized gains on investments and foreign currency and other transactions | (147 | ) | (78 | ) | |||
Net unrealized losses on investments, foreign currency and other transactions | 79 | 35 | |||||
Realized losses on extinguishment of debt | 4 | — | |||||
Net accretion of discount on investments | (7 | ) | (4 | ) | |||
Payment-in-kind interest and dividends | (57 | ) | (32 | ) | |||
Collections of payment-in-kind interest and dividends | 62 | 3 | |||||
Amortization of debt issuance costs | 14 | 11 | |||||
Net accretion of discount on notes payable | 5 | 5 | |||||
Depreciation | 1 | 1 | |||||
Acquisition of American Capital, net of cash acquired | (2,381 | ) | — | ||||
Proceeds from sales and repayments of investments | 5,804 | 2,700 | |||||
Purchases of investments | (5,760 | ) | (2,386 | ) | |||
Changes in operating assets and liabilities: | |||||||
Interest receivable | 17 | 17 | |||||
Other assets | 25 | (13 | ) | ||||
Base management fees payable | 10 | — | |||||
Income based fees payable | (7 | ) | 2 | ||||
Capital gains incentive fees payable | 23 | 8 | |||||
Accounts payable and other liabilities | (94 | ) | (10 | ) | |||
Interest and facility fees payable | — | (19 | ) | ||||
Net cash (used in) provided by operating activities | (1,974 | ) | 639 | ||||
FINANCING ACTIVITIES: | |||||||
Net proceeds from issuance of common stock | 1,839 | — | |||||
Borrowings on debt | 10,305 | 7,168 | |||||
Repayments and repurchases of debt | (9,535 | ) | (7,567 | ) | |||
Debt issuance costs | (37 | ) | (9 | ) | |||
Dividends paid | (480 | ) | (358 | ) | |||
Repurchases of common stock | — | (5 | ) | ||||
Net cash provided by (used) in financing activities | 2,092 | (771 | ) | ||||
CHANGE IN CASH AND CASH EQUIVALENTS | 118 | (132 | ) | ||||
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 223 | 257 | |||||
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ | 341 | $ | 125 | |||
Supplemental Information: | |||||||
Interest paid during the period | $ | 141 | $ | 139 | |||
Taxes, including excise tax, paid during the period | $ | 21 | $ | 16 | |||
Dividends declared and payable during the period | $ | 486 | $ | 358 | |||
Deemed contribution from Ares Capital Management (see Note 14) | $ | 54 | $ | — |
For the Nine Months Ended September 30, | |||||||||||
2021 | 2020 | ||||||||||
OPERATING ACTIVITIES: | |||||||||||
Net increase in stockholders’ equity resulting from operations | $ | 1,185 | 106 | ||||||||
Adjustments to reconcile net increase in stockholders’ equity resulting from operations: | |||||||||||
Net realized gains on investments, foreign currency and other transactions | (267) | (17) | |||||||||
Net unrealized (gains) losses on investments, foreign currency and other transactions | (462) | 476 | |||||||||
Realized loss on extinguishment of debt | 43 | — | |||||||||
Net accretion of discount on investments | (11) | (5) | |||||||||
PIK interest | (121) | (110) | |||||||||
Collections of PIK interest | 101 | 27 | |||||||||
PIK dividends | (61) | (50) | |||||||||
Collections of PIK dividends | 122 | — | |||||||||
Amortization of debt issuance costs | 19 | 16 | |||||||||
Net accretion of discount on notes payable | 3 | 6 | |||||||||
Proceeds from sales and repayments of investments and other transactions | 6,738 | 3,096 | |||||||||
Purchases of investments | (8,026) | (3,368) | |||||||||
Changes in operating assets and liabilities: | |||||||||||
Interest receivable | 3 | 1 | |||||||||
Receivable from participants | 38 | — | |||||||||
Other assets | 14 | (2) | |||||||||
Operating lease right-of-use asset | 8 | 9 | |||||||||
Base management fees payable | 9 | (1) | |||||||||
Income based fees payable | (87) | 35 | |||||||||
Capital gains incentive fees payable | 133 | (58) | |||||||||
Interest and facility fees payable | (17) | (6) | |||||||||
Payable to participants | (52) | 34 | |||||||||
Accounts payable and other liabilities | 7 | (4) | |||||||||
Operating lease liabilities | (11) | (13) | |||||||||
Net cash (used in) provided by operating activities | (692) | 172 | |||||||||
FINANCING ACTIVITIES: | |||||||||||
Borrowings on debt | 12,131 | 5,295 | |||||||||
Repayments and repurchases of debt | (10,752) | (4,717) | |||||||||
Debt issuance costs | (49) | (37) | |||||||||
Net proceeds from issuance of common stock | 687 | — | |||||||||
Dividends paid | (512) | (510) | |||||||||
Repurchases of common stock | — | (100) | |||||||||
Secured borrowings | 74 | (3) | |||||||||
Net cash provided by (used in) financing activities | 1,579 | (72) | |||||||||
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 887 | 100 | |||||||||
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD | 326 | 176 | |||||||||
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD | $ | 1,213 | $ | 276 | |||||||
Supplemental Information: | |||||||||||
Interest paid during the period | $ | 250 | $ | 208 | |||||||
Taxes, including excise tax, paid during the period | $ | 23 | $ | 16 | |||||||
Dividends declared and payable during the period | $ | 541 | $ | 510 |
As of | |||||||||||
September 30, 2021 | December 31, 2020 | ||||||||||
Cash and cash equivalents | $ | 1,193 | $ | 254 | |||||||
Restricted cash | 20 | 72 | |||||||||
Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows | $ | 1,213 | $ | 326 |
(1) Fair value of investment securities, other assets and liabilities—at the exchange rates prevailing at the end of the period. |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Base management fees | $ | 65 | $ | 53 | $ | 184 | $ | 161 | |||||||||||||||
Income based fees | 53 | 42 | 158 | 127 | |||||||||||||||||||
Capital gains incentive fees(1) | $ | 30 | $ | — | $ | 133 | $ | (58) |
As of | |||||||||||||||
September 30, 2017 | December 31, 2016 | ||||||||||||||
Amortized Cost(1) | Fair Value | Amortized Cost(1) | Fair Value | ||||||||||||
First lien senior secured loans | $ | 4,797 | $ | 4,657 | $ | 2,102 | $ | 2,036 | |||||||
Second lien senior secured loans | 4,198 | 4,082 | 3,069 | 2,987 | |||||||||||
Subordinated certificates of the SDLP (2) | 437 | 437 | 270 | 270 | |||||||||||
Subordinated certificates of the SSLP (3) | — | — | 1,938 | 1,914 | |||||||||||
Senior subordinated loans | 895 | 922 | 692 | 714 | |||||||||||
Collateralized loan obligations | 161 | 158 | — | — | |||||||||||
Preferred equity securities | 628 | 435 | 505 | 273 | |||||||||||
Other equity securities | 624 | 765 | 458 | 626 | |||||||||||
Total | $ | 11,740 | $ | 11,456 | $ | 9,034 | $ | 8,820 |
As of | |||||||||||||||||||||||
September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||
Amortized Cost(1) | Fair Value | Amortized Cost(1) | Fair Value | ||||||||||||||||||||
First lien senior secured loans (2) | $ | 8,788 | $ | 8,656 | $ | 7,224 | $ | 6,987 | |||||||||||||||
Second lien senior secured loans | 4,158 | 4,071 | 4,386 | 4,171 | |||||||||||||||||||
Subordinated certificates of the SDLP (3) | 932 | 932 | 1,123 | 1,123 | |||||||||||||||||||
Senior subordinated loans | 1,053 | 993 | 1,005 | 951 | |||||||||||||||||||
Preferred equity | 1,296 | 1,272 | 1,020 | 926 | |||||||||||||||||||
Other equity | 1,400 | 1,753 | 1,156 | 1,357 | |||||||||||||||||||
Total | $ | 17,627 | $ | 17,677 | $ | 15,914 | $ | 15,515 |
As of | |||||
September 30, 2017 | December 31, 2016 | ||||
Industry | |||||
Healthcare Services | 20.8 | % | 14.3 | % | |
Business Services | 18.9 | 9.8 | |||
Consumer Products | 7.4 | 7.2 | |||
Investment Funds and Vehicles(1) | 6.0 | 25.2 | |||
Other Services | 6.0 | 8.9 | |||
Manufacturing | 5.5 | 3.8 | |||
Food and Beverage | 4.3 | 2.2 | |||
Financial Services | 4.3 | 4.2 | |||
Education | 3.8 | 2.0 | |||
Power Generation | 3.7 | 6.4 | |||
Automotive Services | 3.3 | 1.9 | |||
Restaurants and Food Services | 3.2 | 4.5 | |||
Wholesale Distribution | 2.6 | — | |||
Containers and Packaging | 2.2 | 2.8 | |||
Oil and Gas | 1.9 | 1.0 | |||
Other | 6.1 | 5.8 | |||
Total | 100.0 | % | 100.0 | % |
As of | |||||||||||
September 30, 2021 | December 31, 2020 | ||||||||||
Industry | |||||||||||
Software & Services | 19.3 | % | 15.1 | % | |||||||
Healthcare Services | 12.0 | 17.3 | |||||||||
Commercial & Professional Services | 10.1 | 8.0 | |||||||||
Insurance Services | 6.5 | 4.0 | |||||||||
Diversified Financials | 6.0 | 6.0 | |||||||||
Investment Funds and Vehicles(1) | 5.5 | 7.5 | |||||||||
Capital Goods | 5.2 | 5.1 | |||||||||
Consumer Durables & Apparel | 4.8 | 6.3 | |||||||||
Automobiles & Components | 4.7 | 5.5 | |||||||||
Power Generation | 4.7 | 5.2 | |||||||||
Consumer Services | 4.3 | 7.1 | |||||||||
Energy | 2.5 | 2.5 | |||||||||
Media & Entertainment | 2.4 | 0.5 | |||||||||
Retailing and Distribution | 2.3 | 1.9 | |||||||||
Food & Beverage | 2.2 | 2.2 | |||||||||
Other | 7.5 | 5.8 | |||||||||
Total | 100.0 | % | 100.0 | % |
As of | |||||
September 30, 2017 | December 31, 2016 | ||||
Geographic Region | |||||
Midwest | 28.1 | % | 19.7 | % | |
Southeast | 27.3 | 19.5 | |||
West(1) | 21.1 | 41.5 | |||
Mid Atlantic | 15.8 | 14.7 | |||
Northeast | 3.9 | 3.6 | |||
International | 3.8 | 1.0 | |||
Total | 100.0 | % | 100.0 | % |
As of | |||||||||||
September 30, 2021 | December 31, 2020 | ||||||||||
Geographic Region | |||||||||||
Midwest | 29.7 | % | 26.0 | % | |||||||
West (1) | 28.0 | 24.9 | |||||||||
Southeast | 19.4 | 22.6 | |||||||||
Mid Atlantic | 14.5 | 16.7 | |||||||||
Northeast | 4.4 | 7.1 | |||||||||
International | 4.0 | 2.7 | |||||||||
Total | 100.0 | % | 100.0 | % |
As of | As of | |||||||||||||||||
September 30, 2017 | December 31, 2016 | September 30, 2021 | December 31, 2020 | |||||||||||||||
Total capital funded to the SDLP(1) | $ | 2,083 | $ | 1,285 | Total capital funded to the SDLP(1) | $ | 3,691 | $ | 4,772 | |||||||||
Total capital funded to the SDLP by the Company(1) | $ | 437 | $ | 270 | Total capital funded to the SDLP by the Company(1) | $ | 932 | $ | 1,123 | |||||||||
Total unfunded capital commitments to the SDLP(2) | $ | 156 | $ | 177 | Total unfunded capital commitments to the SDLP(2) | $ | 194 | $ | 152 | |||||||||
Total unfunded capital commitments to the SDLP by the Company(2) | $ | 33 | $ | 37 | Total unfunded capital commitments to the SDLP by the Company(2) | $ | 49 | $ | 37 |
As of | ||||||||||||||||||
As of | September 30, 2021 | December 31, 2020 | ||||||||||||||||
September 30, 2017 | December 31, 2016 | |||||||||||||||||
Total first lien senior secured loans(1) | $ | 2,080 | $ | 1,281 | ||||||||||||||
Total first lien senior secured loans(1) (2) | Total first lien senior secured loans(1) (2) | $ | 3,711 | $ | 4,483 | |||||||||||||
Largest loan to a single borrower(1) | $ | 200 | $ | 125 | Largest loan to a single borrower(1) | $ | 343 | $ | 345 | |||||||||
Total of five largest loans to borrowers(1) | $ | 886 | $ | 560 | Total of five largest loans to borrowers(1) | $ | 1,541 | $ | 1,565 | |||||||||
Number of borrowers in the SDLP | 18 | 14 | Number of borrowers in the SDLP | 17 | 23 | |||||||||||||
Commitments to fund delayed draw loans(2) | $ | 156 | $ | 177 | ||||||||||||||
Commitments to fund delayed draw loans(3) | Commitments to fund delayed draw loans(3) | $ | 194 | $ | 152 |
Total capital funded to the SSLP(1) | $ | 3,819 | |
Total capital funded to the SSLP by the Company(1) | $ | 2,004 | |
Total unfunded capital commitments to the SSLP(2) | $ | 50 | |
Total unfunded capital commitments to the SSLP by the Company(2) | $ | 7 |
As of | |||||||||||
September 30, 2021 | December 31, 2020 | ||||||||||
Selected Balance Sheet Information: | |||||||||||
Investments at fair value (amortized cost of $3,710 and $4,483, respectively) | $ | 3,657 | $ | 4,345 | |||||||
Other assets | 86 | 400 | |||||||||
Total assets | $ | 3,743 | $ | 4,745 | |||||||
Senior notes | $ | 2,528 | $ | 3,364 | |||||||
Intermediate funding notes | 97 | 124 | |||||||||
Other liabilities | 50 | 52 | |||||||||
Total liabilities | 2,675 | 3,540 | |||||||||
Subordinated certificates and members’ capital | 1,068 | 1,205 | |||||||||
Total liabilities and members’ capital | $ | 3,743 | $ | 4,745 |
For the Nine Months Ended September 30, | |||||||||||||||||||||||
2021 | 2020 | ||||||||||||||||||||||
Selected Statement of Operations Information: | |||||||||||||||||||||||
Total investment income | $ | 213 | $ | 226 | |||||||||||||||||||
Interest expense | 69 | 89 | |||||||||||||||||||||
Other expenses | 13 | 12 | |||||||||||||||||||||
Total expenses | 82 | 101 | |||||||||||||||||||||
Net investment income | 131 | 125 | |||||||||||||||||||||
Net realized and unrealized gains (losses) on investments | 84 | (91) | |||||||||||||||||||||
Net increase in members’ capital resulting from operations | $ | 215 | $ | 34 |
Total first lien senior secured loans(1) | $ | 3,360 | |
Largest loan to a single borrower(1) | $ | 260 | |
Total of five largest loans to borrowers(1) | $ | 1,257 | |
Number of borrowers in the SSLP | 19 | ||
Commitments to fund delayed draw loans(2) | $ | 50 |
As of | ||||||||||||||||||||||||
September 30, 2017 | December 31, 2016 | |||||||||||||||||||||||
Total Aggregate Principal Amount Committed/ Outstanding(1) | Principal Amount Outstanding | Carrying Value | Total Aggregate Principal Amount Committed/ Outstanding(1) | Principal Amount Outstanding | Carrying Value | |||||||||||||||||||
Revolving Credit Facility | $ | 2,108 | (2) | $ | 395 | $ | 395 | $ | 1,265 | $ | 571 | $ | 571 | |||||||||||
Revolving Funding Facility | 1,000 | 450 | 450 | 540 | 155 | 155 | ||||||||||||||||||
SMBC Funding Facility | 400 | — | — | 400 | 105 | 105 | ||||||||||||||||||
SBA Debentures | 50 | — | — | 75 | 25 | 24 | ||||||||||||||||||
2017 Convertible Notes | — | — | — | (3) | 162 | 162 | 162 | (4) | ||||||||||||||||
2018 Convertible Notes | 270 | 270 | 269 | (4) | 270 | 270 | 267 | (4) | ||||||||||||||||
2019 Convertible Notes | 300 | 300 | 298 | (4) | 300 | 300 | 296 | (4) | ||||||||||||||||
2022 Convertible Notes | 388 | 388 | 367 | (4) | — | — | — | |||||||||||||||||
2018 Notes | 750 | 750 | 747 | (5) | 750 | 750 | 745 | (5) | ||||||||||||||||
2020 Notes | 600 | 600 | 597 | (6) | 600 | 600 | 596 | (6) | ||||||||||||||||
January 2022 Notes | 600 | 600 | 593 | (7) | 600 | 600 | 592 | (7) | ||||||||||||||||
October 2022 Notes | — | — | — | (8) | 183 | 183 | 179 | (9) | ||||||||||||||||
2023 Notes | 750 | 750 | 742 | (10) | — | — | — | |||||||||||||||||
2047 Notes | 230 | 230 | 182 | (11) | 230 | 230 | 182 | (11) | ||||||||||||||||
Total | $ | 7,446 | $ | 4,733 | $ | 4,640 | $ | 5,375 | $ | 3,951 | $ | 3,874 |
As of | ||||||||||||||||||||||||||||||||||||||
September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||
Total Aggregate Principal Amount Committed/ Outstanding(1) | Principal Amount Outstanding | Carrying Value | Total Aggregate Principal Amount Committed/ Outstanding(1) | Principal Amount Outstanding | Carrying Value | |||||||||||||||||||||||||||||||||
Revolving Credit Facility | $ | 4,232 | (2) | $ | 874 | $ | 874 | $ | 3,617 | (2) | $ | 1,180 | $ | 1,180 | ||||||||||||||||||||||||
Revolving Funding Facility | 1,525 | 763 | 763 | 1,525 | 1,028 | 1,028 | ||||||||||||||||||||||||||||||||
SMBC Funding Facility | 800 | (3) | — | — | 725 | (3) | 453 | 453 | ||||||||||||||||||||||||||||||
BNP Funding Facility | 300 | — | — | 300 | 150 | 150 | ||||||||||||||||||||||||||||||||
2022 Convertible Notes | 388 | 388 | 386 | (4) | 388 | 388 | 383 | (4) | ||||||||||||||||||||||||||||||
2024 Convertible Notes | 403 | 403 | 394 | (4) | 403 | 403 | 392 | (4) | ||||||||||||||||||||||||||||||
2022 Notes | 600 | 600 | 600 | (5) | 600 | 600 | 598 | (5) | ||||||||||||||||||||||||||||||
2023 Notes | 750 | 750 | 748 | (6) | 750 | 750 | 747 | (6) | ||||||||||||||||||||||||||||||
2024 Notes | 900 | 900 | 897 | (7) | 900 | 900 | 896 | (7) | ||||||||||||||||||||||||||||||
March 2025 Notes | 600 | 600 | 596 | (8) | 600 | 600 | 595 | (8) | ||||||||||||||||||||||||||||||
July 2025 Notes | 1,250 | 1,250 | 1,261 | (9) | 750 | 750 | 742 | (9) | ||||||||||||||||||||||||||||||
January 2026 Notes | 1,150 | 1,150 | 1,142 | (10) | 1,150 | 1,150 | 1,141 | (10) | ||||||||||||||||||||||||||||||
July 2026 Notes | 1,000 | 1,000 | 988 | (11) | — | — | — | |||||||||||||||||||||||||||||||
2028 Notes | 1,250 | 1,250 | 1,246 | (12) | — | — | — | |||||||||||||||||||||||||||||||
2047 Notes | — | — | — | (13) | 230 | 230 | 186 | (13) | ||||||||||||||||||||||||||||||
Total | $ | 15,148 | $ | 9,928 | $ | 9,895 | $ | 11,938 | $ | 8,582 | $ | 8,491 |
(4)Represents the aggregate principal amount outstanding of the Convertible Unsecured Notes (as defined below). As of September 30, 2021, the total unamortized debt issuance costs and the unaccreted discount for the 2022 Convertible Notes and the 2024 Convertible Notes (each as defined below) were $2 and $9, respectively. As of December 31, 2020, the total unamortized debt issuance costs and the unaccreted discount for the 2022 Convertible Notes and the 2024 Convertible Notes were $5 and $11, respectively. (5)Represents the aggregate principal amount outstanding of the 2022 Notes (as defined below), less unamortized debt issuance costs and the unaccreted discount recorded upon the issuance of the 2022 Notes. As of September 30, 2021 and December 31, 2020, the total unamortized debt issuance costs and the unaccreted discount was $0 and $2, respectively. (6)Represents the aggregate principal amount outstanding of the 2023 Notes (as defined below), less unamortized debt issuance costs and the unaccreted discount recorded upon the issuance of the 2023 Notes. As of September 30, 2021 and December 31, 2020, the total unamortized debt issuance costs and the unaccreted discount was $2 and $3, respectively. (7)Represents the aggregate principal amount outstanding of the 2024 Notes (as defined below), less unamortized debt issuance costs and the net unaccreted discount recorded upon the issuance of the 2024 Notes. As of September 30, 102 2021 and December 31, 2020, the total unamortized debt issuance costs and the net unaccreted discount was $3 and $4, respectively. (8)Represents the aggregate principal amount outstanding of the March 2025 Notes (as defined below), less unamortized debt issuance costs and the unaccreted discount recorded upon the issuance of the March 2025 Notes. As of September 30, 2021 and December 31, 2020, the total unamortized debt issuance costs and the unaccreted discount was $4 and $5, respectively. (9)Represents the aggregate principal amount outstanding of the July 2025 Notes (as defined below), less unamortized debt issuance costs and the net unaccreted premium recorded upon the issuance of the July 2025 Notes. As of September 30, 2021, the total unamortized debt issuance costs and the net unaccreted premium was $11. As of December 31, 2020, the total unamortized debt issuance costs and the unaccreted discount was $8. (10)Represents the aggregate principal amount outstanding of the January 2026 Notes (as defined below), less unamortized debt issuance costs and the unaccreted discount recorded upon the issuance of the January 2026 Notes. As of September 30, 2021 and December 31, 2020, the total unamortized debt issuance costs and the unaccreted discount was $8 and $9, respectively. (11)Represents the aggregate principal amount outstanding of the July 2026 Notes (as defined below), less unamortized debt issuance costs and the unaccreted discount recorded upon the issuance of the July 2026 Notes. As of September 30, 2021, the total unamortized debt issuance costs and the unaccreted discount was $12. (12)Represents the aggregate principal amount outstanding of the 2028 Notes (as defined below), less unamortized debt issuance costs and the net unaccreted discount recorded upon the issuance of the 2028 Notes. As of September 30, 2021, the total unamortized debt issuance costs and the net unaccreted discount was $4. (13)Represents the aggregate principal amount outstanding of the 2047 Notes (as defined below), less the unaccreted purchased discount recorded in connection with the Allied Acquisition (as defined below). As of December 31, 2020, the total unaccreted purchased discount was $44. See below for more information on the early redemption of the 2047 Notes. |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||
2017 | 2016 | 2017 | 2016 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||
Stated interest expense | $ | 3 | $ | 5 | $ | 12 | $ | 15 | Stated interest expense | $ | 4 | $ | 6 | $ | 14 | $ | 36 | |||||||||||||||||||||
Facility fees | 2 | — | 5 | 1 | ||||||||||||||||||||||||||||||||||
Credit facility fees | Credit facility fees | 4 | 2 | 11 | 5 | |||||||||||||||||||||||||||||||||
Amortization of debt issuance costs | 1 | 1 | 3 | 2 | Amortization of debt issuance costs | 2 | 2 | 4 | 5 | |||||||||||||||||||||||||||||
Total interest and credit facility fees expense | $ | 6 | $ | 6 | $ | 20 | $ | 18 | Total interest and credit facility fees expense | $ | 10 | $ | 10 | $ | 29 | $ | 46 | |||||||||||||||||||||
Cash paid for interest expense | $ | 4 | $ | 6 | $ | 12 | $ | 15 | Cash paid for interest expense | $ | 4 | $ | 7 | $ | 14 | $ | 35 | |||||||||||||||||||||
Average stated interest rate | 3.08 | % | 2.27 | % | 2.83 | % | 2.23 | % | Average stated interest rate | 1.97 | % | 2.46 | % | 2.09 | % | 2.74 | % | |||||||||||||||||||||
Average outstanding balance | $ | 454 | $ | 877 | $ | 551 | $ | 897 | Average outstanding balance | $ | 889 | $ | 1,136 | $ | 922 | $ | 1,693 |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||
2017 | 2016 | 2017 | 2016 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||
Stated interest expense | $ | 4 | $ | 1 | $ | 13 | $ | 3 | Stated interest expense | $ | 2 | $ | 4 | $ | 12 | $ | 15 | |||||||||||||||||||||
Facility fees | 1 | 1 | 2 | 2 | ||||||||||||||||||||||||||||||||||
Credit facility fees | Credit facility fees | 2 | 1 | 5 | 4 | |||||||||||||||||||||||||||||||||
Amortization of debt issuance costs | 1 | 1 | 3 | 2 | Amortization of debt issuance costs | 1 | 1 | 3 | 3 | |||||||||||||||||||||||||||||
Total interest and credit facility fees expense | $ | 6 | $ | 3 | $ | 18 | $ | 7 | Total interest and credit facility fees expense | $ | 5 | $ | 6 | $ | 20 | $ | 22 | |||||||||||||||||||||
Cash paid for interest expense | $ | 5 | $ | 1 | $ | 10 | $ | 3 | Cash paid for interest expense | $ | 3 | $ | 4 | $ | 11 | $ | 15 | |||||||||||||||||||||
Average stated interest rate | 3.61 | % | 2.76 | % | 3.36 | % | 2.71 | % | Average stated interest rate | 2.69 | % | 2.28 | % | 2.35 | % | 2.67 | % | |||||||||||||||||||||
Average outstanding balance | $ | 405 | $ | 130 | $ | 514 | $ | 136 | Average outstanding balance | $ | 368 | $ | 700 | $ | 602 | $ | 737 |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Stated interest expense | $ | — | $ | 2 | $ | 2 | $ | 8 | |||||||||||||||
Credit facility fees | 2 | 1 | 4 | 1 | |||||||||||||||||||
Amortization of debt issuance costs | 1 | 1 | 2 | 2 | |||||||||||||||||||
Total interest and credit facility fees expense | $ | 3 | $ | 4 | $ | 8 | $ | 11 | |||||||||||||||
Cash paid for interest expense | $ | — | $ | 2 | $ | 3 | $ | 8 | |||||||||||||||
Average stated interest rate | 2.36 | % | 1.95 | % | 2.00 | % | 2.52 | % | |||||||||||||||
Average outstanding balance | $ | 9 | $ | 368 | $ | 155 | $ | 398 |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||
2017 | 2016 | 2017 | 2016 | ||||||||||||
Stated interest expense | $ | 1 | $ | 1 | $ | 2 | $ | 2 | |||||||
Facility fees | — | — | 1 | 1 | |||||||||||
Amortization of debt issuance costs | — | — | 1 | 1 | |||||||||||
Total interest and credit facility fees expense | $ | 1 | $ | 1 | $ | 4 | $ | 4 | |||||||
Cash paid for interest expense | $ | 1 | $ | 1 | $ | 2 | $ | 2 | |||||||
Average stated interest rate | 3.25 | % | 2.24 | % | 3.57 | % | 2.20 | % | |||||||
Average outstanding balance | $ | 44 | $ | 110 | $ | 105 | $ | 116 |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | For the Three and Nine Months Ended September 30, 2021 | ||||||||||||||||||||||||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||||||||||||||||||||||||
Stated interest expense | $ | — | $ | — | $ | 1 | $ | 1 | Stated interest expense | $ | — | $ | 1 | |||||||||||||||||||||||||
Credit facility fees | Credit facility fees | 1 | 3 | |||||||||||||||||||||||||||||||||||
Amortization of debt issuance costs | — | — | — | — | Amortization of debt issuance costs | — | — | |||||||||||||||||||||||||||||||
Total interest and credit facility fees expense | $ | — | $ | — | $ | 1 | $ | 1 | Total interest and credit facility fees expense | $ | 1 | $ | 4 | |||||||||||||||||||||||||
Cash paid for interest expense | $ | — | $ | — | $ | 1 | $ | 1 | Cash paid for interest expense | $ | — | $ | 1 | |||||||||||||||||||||||||
Average stated interest rate | 3.48 | % | 3.48 | % | 3.48 | % | 3.39 | % | Average stated interest rate | — | % | — | % | |||||||||||||||||||||||||
Average outstanding balance | $ | 17 | $ | 25 | $ | 22 | $ | 24 | Average outstanding balance | $ | — | $ | 20 |
2018 Convertible Notes | 2019 Convertible Notes | 2022 Convertible Notes | 2022 Convertible Notes | 2024 Convertible Notes | |||||||||||||||||||
Conversion premium | 17.5 | % | 15.0 | % | 15.0 | % | Conversion premium | 15.0 | % | 15.0 | % | ||||||||||||
Closing stock price at issuance | $ | 16.91 | $ | 17.53 | $ | 16.86 | Closing stock price at issuance | $ | 16.86 | $ | 17.29 | ||||||||||||
Closing stock price date | October 3, 2012 | July 15, 2013 | January 23, 2017 | Closing stock price date | January 23, 2017 | March 5, 2019 | |||||||||||||||||
Conversion price(1) | $ | 19.64 | $ | 19.99 | $ | 19.39 | Conversion price(1) | $ | 19.02 | $ | 19.88 | ||||||||||||
Conversion rate (shares per one thousand dollar principal amount)(1) | 50.9054 | 50.0292 | 51.5756 | Conversion rate (shares per one thousand dollar principal amount)(1) | 52.5674 | 50.2930 | |||||||||||||||||
Conversion dates | July 15, 2017 | July 15, 2018 | August 1, 2021 | Conversion dates | August 1, 2021 | December 1, 2023 |
2022 Convertible Notes | 2024 Convertible Notes | ||||||||||
Debt and equity component percentages, respectively(1) | 96.0% and 4.0% | 98.9% and 1.1% | |||||||||
Debt issuance costs(1) | $ | 9 | $ | 4 | |||||||
Equity issuance costs(1) | $ | — | $ | — | |||||||
Equity component, net of issuance costs(2) | $ | 15 | $ | 13 |
2018 Convertible Notes | 2019 Convertible Notes | 2022 Convertible Notes | |||||||||
Debt and equity component percentages, respectively(1) | 98.0% and 2.0% | 99.8% and 0.2% | 96.0% and 4.0% | ||||||||
Debt issuance costs(1) | $ | 6 | $ | 4 | $ | 9 | |||||
Equity issuance costs(1) | $ | — | $ | — | $ | — | |||||
Equity component, net of issuance costs(2) | $ | 5 | $ | 1 | $ | 15 |
2018 Convertible Notes | 2019 Convertible Notes | 2022 Convertible Notes | 2022 Convertible Notes | 2024 Convertible Notes | ||||||||||||||||||
Principal amount of debt | $ | 270 | $ | 300 | $ | 388 | Principal amount of debt | $ | 388 | $ | 403 | |||||||||||
Debt issuance costs, net of amortization | — | (1 | ) | (7 | ) | |||||||||||||||||
Original issue discount, net of accretion | (1 | ) | (1 | ) | (14 | ) | Original issue discount, net of accretion | — | (7) | |||||||||||||
Debt issuance costs | Debt issuance costs | (2) | (2) | |||||||||||||||||||
Carrying value of debt | $ | 269 | $ | 298 | $ | 367 | Carrying value of debt | $ | 386 | $ | 394 | |||||||||||
Stated interest rate | 4.750 | % | 4.375 | % | 3.750 | % | Stated interest rate | 3.750 | % | 4.630 | % | |||||||||||
Effective interest rate(1) | 5.3 | % | 4.7 | % | 4.5 | % | Effective interest rate(1) | 4.60 | % | 5.20 | % |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Stated interest expense | $ | 8 | $ | 8 | $ | 25 | $ | 25 | |||||||||||||||
Amortization of debt issuance costs | 1 | 1 | 2 | 2 | |||||||||||||||||||
Accretion of original issue discount | 1 | 1 | 4 | 4 | |||||||||||||||||||
Total interest expense | $ | 10 | $ | 10 | $ | 31 | $ | 31 | |||||||||||||||
Cash paid for interest expense | $ | 17 | $ | 16 | $ | 34 | $ | 33 |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||
2017 | 2016 | 2017 | 2016 | ||||||||||||
Stated interest expense | $ | 10 | $ | 8 | $ | 30 | $ | 33 | |||||||
Amortization of debt issuance costs | 1 | 1 | 3 | 3 | |||||||||||
Accretion of original issue discount | 2 | 1 | 5 | 5 | |||||||||||
Total interest expense | $ | 13 | $ | 10 | $ | 38 | $ | 41 | |||||||
Cash paid for interest expense | $ | 20 | $ | 17 | $ | 37 | $ | 56 |
Unsecured Notes | Aggregate Principal Amount Issued | Interest Rate | Original Issuance Date | Maturity Date | |||||||||||||||||||
2022 Notes | $ | 600 | 3.625 | % | September 19, 2016 | January 19, 2022 | |||||||||||||||||
2023 Notes | $ | 750 | 3.500 | % | August 10, 2017 | February 10, 2023 | |||||||||||||||||
2024 Notes | $ | 900 | 4.200 | % | June 10, 2019 | June 10, 2024 | |||||||||||||||||
March 2025 Notes | $ | 600 | 4.250 | % | January 11, 2018 | March 1, 2025 | |||||||||||||||||
July 2025 Notes | $ | 1,250 | 3.250 | % | January 15, 2020 | July 15, 2025 | |||||||||||||||||
January 2026 Notes | $ | 1,150 | 3.875 | % | July 15, 2020 | January 15, 2026 | |||||||||||||||||
July 2026 Notes | $ | 1,000 | 2.150 | % | January 13, 2021 | July 15, 2026 | |||||||||||||||||
2028 Notes | $ | 1,250 | 2.875 | % | June 10, 2021 | June 15, 2028 |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||
2017 | 2016 | 2017 | 2016 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||
Stated interest expense | $ | 28 | $ | 22 | $ | 81 | $ | 65 | Stated interest expense | $ | 62 | $ | 44 | $ | 168 | $ | 119 | |||||||||||||||||||||
Amortization of debt issuance costs | 2 | 1 | 4 | 3 | Amortization of debt issuance costs | 4 | 2 | 8 | 4 | |||||||||||||||||||||||||||||
Net accretion of original issue discount | — | — | — | — | ||||||||||||||||||||||||||||||||||
Net accretion (discount) of original issue discount | Net accretion (discount) of original issue discount | (1) | 1 | (1) | 1 | |||||||||||||||||||||||||||||||||
Accretion of purchase discount | — | — | — | — | Accretion of purchase discount | — | — | — | 1 | |||||||||||||||||||||||||||||
Total interest expense | $ | 30 | $ | 23 | $ | 85 | $ | 68 | Total interest expense | $ | 65 | $ | 47 | $ | 175 | $ | 125 | |||||||||||||||||||||
Cash paid for interest expense | $ | 26 | $ | 19 | $ | 79 | $ | 62 | Cash paid for interest expense | $ | 90 | $ | 53 | $ | 187 | $ | 117 |
As of September 30, 2021 | |||||||||||||||||||||||||||||||||||
Derivative Instrument | Notional Amount | Maturity Date | Gross Amount of Recognized Assets | Gross Amount of Recognized Liabilities | Balance Sheet Location of Net Amounts | ||||||||||||||||||||||||||||||
Foreign currency forward contract | CAD | 213 | 10/28/2021 | $ | 168 | $ | (168) | Accounts payable and other liabilities | |||||||||||||||||||||||||||
Foreign currency forward contract | CAD | 209 | 10/19/2021 | 164 | (164) | Accounts payable and other liabilities | |||||||||||||||||||||||||||||
Foreign currency forward contract | € | 128 | 10/28/2021 | 149 | (148) | Other assets | |||||||||||||||||||||||||||||
Foreign currency forward contract | £ | 97 | 10/28/2021 | 133 | (131) | Other assets | |||||||||||||||||||||||||||||
Total | $ | 614 | $ | (611) |
As of December 31, 2020 | |||||||||||||||||||||||||||||||||||
Derivative Instrument | Notional Amount | Maturity Date | Gross Amount of Recognized Assets | Gross Amount of Recognized Liabilities | Balance Sheet Location of Net Amounts | ||||||||||||||||||||||||||||||
Interest rate swap | $ | 395 | 1/4/2021 | $ | — | $ | (1) | Accounts payable and other liabilities | |||||||||||||||||||||||||||
Foreign currency forward contract | CAD | 142 | 1/21/2021 | 112 | (112) | Accounts payable and other liabilities | |||||||||||||||||||||||||||||
Foreign currency forward contract | £ | 75 | 1/21/2021 | 102 | (103) | Accounts payable and other liabilities | |||||||||||||||||||||||||||||
Total | $ | 214 | $ | (216) |
Derivative Instrument | Statement Location | For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
Interest rate swap | Net realized gains (losses) from foreign currency and other transactions | $ | — | $ | (2) | $ | — | $ | (4) | |||||||||||||||||
Foreign currency forward contracts | Net realized gains (losses) from foreign currency and other transactions | 17 | — | 9 | — | |||||||||||||||||||||
Total | $ | 17 | $ | (2) | $ | 9 | $ | (4) |
Derivative Instrument | Statement Location | For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
Interest rate swap | Net unrealized gains (losses) from foreign currency and other transactions | $ | — | $ | 2 | $ | 1 | $ | (1) | |||||||||||||||||
Foreign currency forward contracts | Net unrealized gains (losses) from foreign currency and other transactions | (2) | — | 3 | — | |||||||||||||||||||||
Total | $ | (2) | $ | 2 | $ | 4 | $ | (1) |
As of September 30, 2017 | |||||||||||||||||||
Description | Notional Amount | Maturity Date | Gross Amount of Recognized Assets | Gross Amount of Recognized Liabilities | Amount Offset in the Balance Sheet | Balance Sheet Location of Net Amounts | |||||||||||||
Foreign currency forward contract | € | 2 | 10/5/2017 | $ | 2 | $ | (2 | ) | $ | — | Accounts payable and other liabilities | ||||||||
Foreign currency forward contract | € | 15 | 10/16/2017 | 17 | (18 | ) | (1 | ) | Accounts payable and other liabilities | ||||||||||
Foreign currency forward contract | € | 24 | 11/15/2017 | 29 | (29 | ) | — | Other Assets | |||||||||||
Foreign currency forward contract | € | 1 | 12/15/2017 | 1 | (1 | ) | — | Other Assets | |||||||||||
Foreign currency forward contract | CAD | 10 | 10/16/2017 | 8 | (8 | ) | — | Accounts payable and other liabilities | |||||||||||
Foreign currency forward contract | CAD | 103 | 11/24/2017 | 82 | (82 | ) | — | Accounts payable and other liabilities | |||||||||||
Foreign currency forward contract | £ | 62 | 11/15/2017 | 80 | (83 | ) | (3 | ) | Accounts payable and other liabilities | ||||||||||
Total | $ | 219 | $ | (223 | ) | $ | (4 | ) |
As of December 31, 2016 | |||||||||||||||||||
Description | Notional Amount | Maturity Date | Gross Amount of Recognized Assets | Gross Amount of Recognized Liabilities | Amount Offset in the Balance Sheet | Balance Sheet Location of Net Amounts | |||||||||||||
Foreign currency forward contract | € | 2 | 1/5/2017 | $ | 3 | $ | (3 | ) | $ | — | Other Assets | ||||||||
Total | $ | 3 | $ | (3 | ) | $ | — |
As of | As of | |||||||||||||||||
September 30, 2017 | December 31, 2016 | September 30, 2021 | December 31, 2020 | |||||||||||||||
Total revolving and delayed draw loan commitments | $ | 801 | $ | 411 | Total revolving and delayed draw loan commitments | $ | 2,785 | $ | 2,020 | |||||||||
Less: drawn commitments | (176 | ) | (81 | ) | ||||||||||||||
Total undrawn commitments | 625 | 330 | ||||||||||||||||
Less: funded commitments | Less: funded commitments | (302) | (409) | |||||||||||||||
Total unfunded commitments | Total unfunded commitments | 2,483 | 1,611 | |||||||||||||||
Less: commitments substantially at discretion of the Company | (16 | ) | (12 | ) | Less: commitments substantially at discretion of the Company | — | (29) | |||||||||||
Less: unavailable commitments due to borrowing base or other covenant restrictions | — | — | Less: unavailable commitments due to borrowing base or other covenant restrictions | (7) | (8) | |||||||||||||
Total net adjusted undrawn revolving and delayed draw loan commitments | $ | 609 | $ | 318 | ||||||||||||||
Total net adjusted unfunded revolving and delayed draw loan commitments | Total net adjusted unfunded revolving and delayed draw loan commitments | $ | 2,476 | $ | 1,574 |
As of | As of | |||||||||||||||||
September 30, 2017 | December 31, 2016 | September 30, 2021 | December 31, 2020 | |||||||||||||||
Total private equity commitments | $ | 117 | $ | 57 | Total private equity commitments | $ | 110 | $ | 111 | |||||||||
Less: funded private equity commitments | (67 | ) | (17 | ) | Less: funded private equity commitments | (67) | (68) | |||||||||||
Total unfunded private equity commitments | 50 | 40 | Total unfunded private equity commitments | 43 | 43 | |||||||||||||
Less: private equity commitments substantially at discretion of the Company | (49 | ) | (39 | ) | Less: private equity commitments substantially at discretion of the Company | (43) | (43) | |||||||||||
Total net adjusted unfunded private equity commitments | $ | 1 | $ | 1 | Total net adjusted unfunded private equity commitments | $ | — | $ | — |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Operating lease costs | $ | 3 | $ | 5 | $ | 8 | $ | 14 | |||||||||||||||
Less: sublease income | (3) | (5) | (8) | (13) | |||||||||||||||||||
Total operating lease costs (1) | $ | — | $ | — | $ | — | $ | 1 |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Cash paid for amounts included in the measurement of operating lease liabilities | $ | 4 | $ | 6 | $ | 12 | $ | 18 | |||||||||||||||
Operating ROU assets obtained in exchange for operating lease liabilities | $ | 2 | $ | 4 | $ | 6 | $ | 12 |
As of | |||||||||||
September 30, 2021 | December 31, 2020 | ||||||||||
Operating lease ROU assets | $ | 31 | $ | 38 | |||||||
Operating lease liabilities | $ | 48 | $ | 59 | |||||||
Weighted average remaining lease term | 3.9 years | 4.6 years | |||||||||
Weighted average discount rate | 3.2% | 3.3% |
Amount | |||||
2021 | $ | 4 | |||
2022 | 15 | ||||
2023 | 16 | ||||
2024 | 6 | ||||
2025 | 6 | ||||
Thereafter | 6 | ||||
Total lease payments | 53 | ||||
Less imputed interest | (5) | ||||
Total operating lease liability | $ | 48 |
Amount | |||||
2021 | $ | 2 | |||
2022 | 9 | ||||
2023 | 9 | ||||
2024 | 4 | ||||
2025 | 4 | ||||
Thereafter | 3 | ||||
Total | $ | 31 |
As of September 30, 2021 | ||||||||||||||||||||||||||||||||
Unobservable Input | ||||||||||||||||||||||||||||||||
Asset Category | Fair Value | Primary Valuation Techniques | Input | Estimated Range | Weighted Average(1) | |||||||||||||||||||||||||||
First lien senior secured loans | $ | 8,653 | Yield analysis | Market yield | 1.5% - 25.3% | 7.8% | ||||||||||||||||||||||||||
Second lien senior secured loans | 4,071 | Yield analysis | Market yield | 7.1% - 21.8% | 9.8% | |||||||||||||||||||||||||||
Subordinated certificates of the SDLP | 932 | Discounted cash flow analysis | Discount rate | 8.7% - 9.4% | 9.3% | |||||||||||||||||||||||||||
Senior subordinated loans | 975 | Yield analysis | Market yield | 8.8% - 21.0% | 11.1% | |||||||||||||||||||||||||||
Preferred equity | 1,272 | EV market multiple analysis | EBITDA multiple | 3.6x - 35.0x | 16.0x | |||||||||||||||||||||||||||
Ivy Hill Asset Management, L.P. | 620 | Discounted cash flow analysis | Discount rate | 8.8% - 28.0% | 16.6% | |||||||||||||||||||||||||||
Other equity | 1,143 | EV market multiple analysis | EBITDA multiple | 2.6x - 33.7x | 13.6x | |||||||||||||||||||||||||||
Total investments | $ | 17,666 |
As of September 30, 2017 | As of December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||
Unobservable Input | Unobservable Input | |||||||||||||||||||||||||||||||||||||||||||||
Asset Category | Fair Value | Primary Valuation Techniques | Input | Estimated Range | Weighted Average | Asset Category | Fair Value | Primary Valuation Techniques | Input | Estimated Range | Weighted Average(1) | |||||||||||||||||||||||||||||||||||
First lien senior secured loans | $ | 4,657 | Yield analysis | Market yield | 3.8% - 17.8% | 8.4 | % | First lien senior secured loans | $ | 6,984 | Yield analysis | Market yield | 1.3% - 19.3% | 8.5% | ||||||||||||||||||||||||||||||||
Second lien senior secured loans | 4,082 | Yield analysis | Market yield | 8.3% - 20.9% | 10.7 | % | Second lien senior secured loans | 4,171 | Yield analysis | Market yield | 7.0% - 19.7% | 10.5% | ||||||||||||||||||||||||||||||||||
Subordinated certificates of the SDLP | 437 | Discounted cash flow analysis | Discount rate | 11.5% - 12.5% | 12.0 | % | Subordinated certificates of the SDLP | 1,123 | Discounted cash flow analysis | Discount rate | 10.2% - 11.1% | 11.0% | ||||||||||||||||||||||||||||||||||
Senior subordinated loans | 922 | Yield analysis | Market yield | 9.5% - 17.5% | 12.8 | % | Senior subordinated loans | 879 | Yield analysis | Market yield | 8.8% - 22.0% | 11.3% | ||||||||||||||||||||||||||||||||||
Collateralized loan obligations | 158 | Discounted cash flow analysis | Discount rate | 6.9% - 18.0% | 10.9 | % | ||||||||||||||||||||||||||||||||||||||||
Constant prepayment rate | 18.9% - 22.8% | 20.1 | % | |||||||||||||||||||||||||||||||||||||||||||
Constant default rate | 1.6% - 2.3% | 1.9 | % | |||||||||||||||||||||||||||||||||||||||||||
Preferred equity securities | 435 | EV market multiple analysis | EBITDA multiple | 2.8x - 21.8x | 11.6x | |||||||||||||||||||||||||||||||||||||||||
Other equity securities and other | 743 | EV market multiple analysis | EBITDA multiple | 3.5x - 21.8x | 10.6x | |||||||||||||||||||||||||||||||||||||||||
Preferred equity | Preferred equity | 926 | EV market multiple analysis | EBITDA multiple | 2.8x - 22.0x | 13.9x | ||||||||||||||||||||||||||||||||||||||||
Ivy Hill Asset Management, L.P. | Ivy Hill Asset Management, L.P. | 628 | Discounted cash flow analysis | Discount rate | 10.5% - 27.5% | 17.1% | ||||||||||||||||||||||||||||||||||||||||
Other equity | Other equity | 795 | EV market multiple analysis | EBITDA multiple | 5.4x - 47.7x | 13.1x | ||||||||||||||||||||||||||||||||||||||||
Total investments | $ | 11,434 | Total investments | $ | 15,506 |
As of December 31, 2016 | ||||||||||||||
Unobservable Input | ||||||||||||||
Asset Category | Fair Value | Primary Valuation Techniques | Input | Estimated Range | Weighted Average | |||||||||
First lien senior secured loans | $ | 2,036 | Yield analysis | Market yield | 5.5% - 20.0% | 9.3 | % | |||||||
Second lien senior secured loans | 2,987 | Yield analysis | Market yield | 8.4% - 20.8% | 10.7 | % | ||||||||
Subordinated certificates of the SDLP | 270 | Discounted cash flow analysis | Discount rate | 11.0% - 12.0% | 11.5 | % | ||||||||
Subordinated certificates of the SSLP | 1,914 | Discounted cash flow analysis | Discount rate | 6.5% - 7.5% | 7.0 | % | ||||||||
Senior subordinated loans | 714 | Yield analysis | Market yield | 9.8% - 17.5% | 12.2 | % | ||||||||
Preferred equity securities | 273 | EV market multiple analysis | EBITDA multiple | 3.5x - 14.8x | 8.6 | x | ||||||||
Other equity securities and other | 619 | EV market multiple analysis | EBITDA multiple | 5.0x - 16.4x | 10.7 | x | ||||||||
Total investments | $ | 8,813 |
Fair Value Measurements Using | Fair Value Measurements Using | |||||||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 341 | $ | 341 | $ | — | $ | — | Cash and cash equivalents | $ | 1,193 | $ | 1,193 | $ | — | $ | — | |||||||||||||||||||||
Restricted cash | Restricted cash | $ | 20 | $ | 20 | $ | — | $ | — | |||||||||||||||||||||||||||||
Investments not measured at net asset value | $ | 11,434 | $ | — | $ | — | $ | 11,434 | Investments not measured at net asset value | $ | 17,671 | $ | — | $ | 5 | $ | 17,666 | |||||||||||||||||||||
Investments measured at net asset value (1) | $ | 22 | Investments measured at net asset value (1) | $ | 6 | |||||||||||||||||||||||||||||||||
Total investments | $ | 11,456 | Total investments | $ | 17,677 | |||||||||||||||||||||||||||||||||
Derivatives | $ | (4 | ) | $ | — | $ | (4 | ) | $ | — | Derivatives | $ | 3 | $ | — | $ | 3 | $ | — | |||||||||||||||||||
Unfunded revolving and delayed draw loan commitments (2) | Unfunded revolving and delayed draw loan commitments (2) | $ | (18) | $ | — | $ | — | $ | (18) |
Fair Value Measurements Using | Fair Value Measurements Using | |||||||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 223 | $ | 223 | $ | — | $ | — | Cash and cash equivalents | $ | 254 | $ | 254 | $ | — | $ | — | |||||||||||||||||||||
Restricted cash | Restricted cash | $ | 72 | $ | 72 | $ | — | $ | — | |||||||||||||||||||||||||||||
Investments not measured at net asset value | $ | 8,814 | $ | 1 | $ | — | $ | 8,813 | Investments not measured at net asset value | $ | 15,509 | $ | — | $ | 3 | $ | 15,506 | |||||||||||||||||||||
Investments measured at net asset value (1) | $ | 6 | Investments measured at net asset value (1) | $ | 6 | |||||||||||||||||||||||||||||||||
Total investments | $ | 8,820 | Total investments | $ | 15,515 | |||||||||||||||||||||||||||||||||
Derivatives | $ | — | $ | — | $ | — | $ | — | Derivatives | $ | (2) | $ | — | $ | (2) | $ | — | |||||||||||||||||||||
Unfunded revolving and delayed draw loan commitments (2) | Unfunded revolving and delayed draw loan commitments (2) | $ | (27) | $ | — | $ | — | $ | (27) |
(1)Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation |
As of and For the Three Months Ended September 30, 2021 | |||||
Balance as of June 30, 2021 | $ | 17,089 | |||
Net realized gains | 123 | ||||
Net unrealized gains | 11 | ||||
Purchases | 2,517 | ||||
Sales | (860) | ||||
Repayments | (1,328) | ||||
PIK interest and dividends | 65 | ||||
Net accretion of discount on securities | 5 | ||||
Net transfers into Level 3(1) | 44 | ||||
Balance as of September 30, 2021 | $ | 17,666 |
As of and For the Three Months Ended September 30, 2017 | |||
Balance as of June 30, 2017 | $ | 11,476 | |
Net realized gains | 48 | ||
Net unrealized losses | (47 | ) | |
Purchases | 2,965 | ||
Sales | (2,401 | ) | |
Redemptions | (629 | ) | |
Payment-in-kind interest and dividends | 20 | ||
Net accretion of discount on securities | 2 | ||
Net transfers in and/or out of Level 3 | — | ||
Balance as of September 30, 2017 | $ | 11,434 |
As of and For the Nine Months Ended September 30, 2021 | |||||
Balance as of December 31, 2020 | $ | 15,506 | |||
Net realized gains | 258 | ||||
Net unrealized gains | 455 | ||||
Purchases | 8,124 | ||||
Sales | (3,375) | ||||
Repayments | (3,537) | ||||
PIK interest and dividends | 180 | ||||
Net accretion of discount on securities | 11 | ||||
Net transfers into Level 3(1) | 44 | ||||
Balance as of September 30, 2021 | $ | 17,666 |
As of and For the Nine Months Ended September 30, 2017 | |||
Balance as of December 31, 2016 | $ | 8,813 | |
Net realized gains | 173 | ||
Net unrealized losses | (74 | ) | |
Investments acquired as part of the American Capital Acquisition | 2,527 | ||
Purchases | 5,758 | ||
Sales | (3,390 | ) | |
Redemptions | (2,437 | ) | |
Payment-in-kind interest and dividends | 57 | ||
Net accretion of discount on securities | 7 | ||
Net transfers in and/or out of Level 3 | — | ||
Balance as of September 30, 2017 | $ | 11,434 |
As of and For the Three Months Ended September 30, 2020 | |||||
Balance as of June 30, 2020 | $ | 13,799 | |||
Net realized losses | (26) | ||||
Net unrealized gains | 309 | ||||
Purchases | 629 | ||||
Sales | (74) | ||||
Repayments | (379) | ||||
PIK interest and dividends | 68 | ||||
Net accretion of discount on securities | 2 | ||||
Net transfers into Level 3 | — | ||||
Balance as of September 30, 2020 | $ | 14,328 |
As of and For the Nine Months Ended September 30, 2020 | |||||
Balance as of December 31, 2019 | $ | 14,348 | |||
Net realized gains | 13 | ||||
Net unrealized losses | (439) | ||||
Purchases | 3,325 | ||||
Sales | (1,267) | ||||
Repayments | (1,811) | ||||
PIK interest and dividends | 153 | ||||
Net accretion of discount on securities | 5 | ||||
Net transfers into Level 3(1) | 1 | ||||
Balance as of September 30, 2020 | $ | 14,328 |
As of and For the Three Months Ended September 30, 2016 | |||
Balance as of June 30, 2016 | $ | 8,893 | |
Net realized gains | 21 | ||
Net unrealized losses | (43 | ) | |
Purchases | 1,378 | ||
Sales | (920 | ) | |
Redemptions | (545 | ) | |
Payment-in-kind interest and dividends | 12 | ||
Net accretion of discount on securities | 2 | ||
Net transfers in and/or out of Level 3 | — | ||
Balance as of September 30, 2016 | $ | 8,798 |
As of and For the Nine Months Ended September 30, 2016 | |||
Balance as of December 31, 2015 | $ | 9,045 | |
Net realized gains | 75 | ||
Net unrealized losses | (22 | ) | |
Purchases | 2,388 | ||
Sales | (1,208 | ) | |
Redemptions | (1,510 | ) | |
Payment-in-kind interest and dividends | 32 | ||
Net accretion of discount on securities | 4 | ||
Net transfers in and/or out of Level 3 | (6 | ) | |
Balance as of September 30, 2016 | $ | 8,798 |
As of and For the Three Months Ended September 30, 2016 | |||
Balance as of June 30, 2016 | $ | 5 | |
Net unrealized appreciation reversed related to termination of the Forward Sale Agreement | (5 | ) | |
Balance as of September 30, 2016 | $ | — |
As of and For the Nine Months Ended September 30, 2016 | |||
Balance as of December 31, 2015 | $ | 3 | |
Net unrealized appreciation reversed related to termination of the Forward Sale Agreement | (3 | ) | |
Balance as of September 30, 2016 | $ | — |
As of | |||||||||||||||
September 30, 2017 | December 31, 2016 | ||||||||||||||
Carrying value(1) | Fair value | Carrying value(1) | Fair value | ||||||||||||
Revolving Credit Facility | $ | 395 | $ | 395 | $ | 571 | $ | 571 | |||||||
Revolving Funding Facility | 450 | 450 | 155 | 155 | |||||||||||
SMBC Funding Facility | — | — | 105 | 105 | |||||||||||
SBA Debentures | — | — | 24 | 25 | |||||||||||
2017 Convertible Notes (principal amount outstanding of $0 and $162, respectively) | — | — | 162 | (2) | 163 | ||||||||||
2018 Convertible Notes (principal amount outstanding of $270) | 269 | (2) | 272 | 267 | (2) | 278 | |||||||||
2019 Convertible Notes (principal amount outstanding of $300) | 298 | (2) | 309 | 296 | (2) | 312 | |||||||||
2022 Convertible Notes (principal amount outstanding of $388 and $0, respectively) | 367 | (2) | 397 | — | — | ||||||||||
2018 Notes (principal amount outstanding of $750) | 747 | (3) | 773 | 745 | (3) | 776 | |||||||||
2020 Notes (principal amount outstanding of $600) | 597 | (4) | 616 | 596 | (4) | 608 | |||||||||
January 2022 Notes (principal amount outstanding of $600) | 593 | (5) | 607 | 592 | (5) | 584 | |||||||||
October 2022 Notes (principal amount outstanding of $0 and $183, respectively) | — | — | 179 | (6) | 184 | ||||||||||
2023 Notes (principal amount outstanding of $750 and $0, respectively) | 742 | (7) | 742 | — | — | ||||||||||
2047 Notes (principal amount outstanding of $230) | 182 | (8) | 233 | 182 | (8) | 228 | |||||||||
$ | 4,640 | (9) | $ | 4,794 | $ | 3,874 | (9) | $ | 3,989 |
As of | |||||||||||||||||||||||
September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||
Carrying value(1) | Fair value | Carrying value(1) | Fair value | ||||||||||||||||||||
Revolving Credit Facility | $ | 874 | $ | 874 | $ | 1,180 | $ | 1,180 | |||||||||||||||
Revolving Funding Facility | 763 | 763 | 1,028 | 1,018 | |||||||||||||||||||
SMBC Funding Facility | — | — | 453 | 445 | |||||||||||||||||||
BNP Funding Facility | — | — | 150 | 153 | |||||||||||||||||||
2022 Convertible Notes (principal amount outstanding of $388) | 386 | (2) | 419 | 383 | (2) | 398 | |||||||||||||||||
2024 Convertible Notes (principal amount outstanding of $403) | 394 | (2) | 446 | 392 | (2) | 425 | |||||||||||||||||
2022 Notes (principal amount outstanding of $600) | 600 | (2) | 604 | 598 | (2) | 617 | |||||||||||||||||
2023 Notes (principal amount outstanding of $750) | 748 | (2) | 776 | 747 | (2) | 794 | |||||||||||||||||
2024 Notes (principal amount outstanding of $900) | 897 | (2) | 966 | 896 | (2) | 983 | |||||||||||||||||
March 2025 Notes (principal amount outstanding of $600) | 596 | (2) | 645 | 595 | (2) | 653 | |||||||||||||||||
July 2025 Notes (principal amount outstanding of $1,250 and $750, respectively) | 1,261 | (3) | 1,315 | 742 | (3) | 795 | |||||||||||||||||
January 2026 Notes (principal amount outstanding of $1,150) | 1,142 | (2) | 1,232 | 1,141 | (2) | 1,248 | |||||||||||||||||
July 2026 Notes (principal amount outstanding of $1,000 and $0, respectively) | 988 | (2) | 1,003 | — | — | ||||||||||||||||||
2028 Notes (principal amount outstanding of $1,250 and $0, respectively) | 1,246 | (2) | 1,269 | — | — | ||||||||||||||||||
2047 Notes (principal amount outstanding of $0 and $230, respectively) | — | (4) | — | 186 | (4) | 243 | |||||||||||||||||
Total | $ | 9,895 | (5) | $ | 10,312 | $ | 8,491 | (5) | $ | 8,952 |
As of | ||||||||||||||
Fair Value Measurements Using | September 30, 2021 | December 31, 2020 | ||||||||||||
Level 1 | $ | — | $ | 243 | ||||||||||
Level 2 | 10,312 | 8,709 | ||||||||||||
Total | $ | 10,312 | $ | 8,952 |
As of | ||||||||
Fair Value Measurements Using | September 30, 2017 | December 31, 2016 | ||||||
Level 1 | $ | 233 | $ | 412 | ||||
Level 2 | 4,561 | 3,577 | ||||||
Total | $ | 4,794 | $ | 3,989 |
Issuances of Common Stock | Number of Shares Issued | Gross Proceeds | Underwriting/Offering Expenses | Net Proceeds | Average Offering Price | |||||||||||||||||||||||||||
Public offerings | 26.5 | $ | 513.8 | $ | 19.0 | $ | 494.8 | $ | 18.71 | (1) | ||||||||||||||||||||||
“At the market” offerings | 9.9 | $ | 195.7 | $ | 3.3 | $ | 192.4 | $ | 19.72 | |||||||||||||||||||||||
Total | 36.4 | $ | 709.5 | $ | 22.3 | $ | 687.2 |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Net increase in stockholders’ equity resulting from operations available to common stockholders | $ | 334 | $ | 441 | $ | 1,185 | $ | 106 | |||||||||||||||
Weighted average shares of common stock outstanding—basic and diluted | 453 | 423 | 441 | 425 | |||||||||||||||||||
Basic and diluted net increase in stockholders’ equity resulting from operations per share | $ | 0.73 | $ | 1.04 | $ | 2.68 | $ | 0.25 |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||
2017 | 2016 | 2017 | 2016 | ||||||||||||
Net increase in stockholders’ equity resulting from operations available to common stockholders | $ | 139 | $ | 110 | $ | 435 | $ | 399 | |||||||
Weighted average shares of common stock outstanding—basic and diluted | 426 | 314 | 425 | 314 | |||||||||||
Basic and diluted net increase in stockholders’ equity resulting from operations per share | $ | 0.33 | $ | 0.35 | $ | 1.02 | $ | 1.27 |
Date declared | Record date | Payment date | Per share amount | Total amount | ||||||||||||||||||||||
July 28, 2021 | September 15, 2021 | September 30, 2021 | $ | 0.41 | $ | 189 | ||||||||||||||||||||
April 28, 2021 | June 15, 2021 | June 30, 2021 | 0.40 | 177 | ||||||||||||||||||||||
February 10, 2021 | March 15, 2021 | March 31, 2021 | 0.40 | 175 | ||||||||||||||||||||||
Total dividends declared and payable for the nine months ended September 30, 2021 | $ | 1.21 | $ | 541 | ||||||||||||||||||||||
August 4, 2020 | September 15, 2020 | September 30, 2020 | $ | 0.40 | $ | 169 | ||||||||||||||||||||
May 5, 2020 | June 15, 2020 | June 30, 2020 | 0.40 | 169 | ||||||||||||||||||||||
February 12, 2020 | March 16, 2020 | March 31, 2020 | 0.40 | 172 | ||||||||||||||||||||||
Total dividends declared and payable for the nine months ended September 30, 2020 | $ | 1.20 | $ | 510 | ||||||||||||||||||||||
Date declared | Record date | Payment date | Per share amount | Total amount | ||||||||
August 2, 2017 | September 15, 2017 | September 29, 2017 | $ | 0.38 | $ | 162 | ||||||
May 3, 2017 | June 15, 2017 | June 30, 2017 | 0.38 | 162 | ||||||||
February 22, 2017 | March 15, 2017 | March 31, 2017 | 0.38 | 162 | ||||||||
Total declared and payable for the nine months ended September 30, 2017 | $ | 1.14 | $ | 486 | ||||||||
August 3, 2016 | September 15, 2016 | September 30, 2016 | $ | 0.38 | $ | 119 | ||||||
May 4, 2016 | June 15, 2016 | June 30, 2016 | 0.38 | 119 | ||||||||
February 26, 2016 | March 15, 2016 | March 31, 2016 | 0.38 | 120 | ||||||||
Total declared and payable for the nine months ended September 30, 2016 | $ | 1.14 | $ | 358 |
For the Nine Months Ended September 30, | ||||||||||||||
2021 | 2020 | |||||||||||||
Shares issued | 1.5 | — | ||||||||||||
Average issue price per share | $ | 19.52 | $ | — | ||||||||||
Shares purchased by plan agent to satisfy dividends declared and payable during the period for stockholders | — | 2.1 | (1) | |||||||||||
Average purchase price per share | $ | — | $ | 12.97 |
For the Nine Months Ended September 30, | |||||||
2017 | 2016 | ||||||
Shares issued | 0.4 | — | |||||
Average issue price per share | $ | 17.38 | $ | — | |||
Shares purchased by plan agent to satisfy dividends declared and payable during the period for stockholders | 1.0 | 1.1 | |||||
Average purchase price per share | $ | 16.48 | $ | 14.85 |
As of and For the Nine Months Ended September 30, | As of and For the Nine Months Ended September 30, | ||||||||||||||||||
Per Share Data: | 2017 | 2016 | Per Share Data: | 2021 | 2020 | ||||||||||||||
Net asset value, beginning of period(1) | $ | 16.45 | $ | 16.46 | Net asset value, beginning of period(1) | $ | 16.97 | $ | 17.32 | ||||||||||
Issuances of common stock (see Note 14) | (0.01 | ) | — | ||||||||||||||||
Deemed contribution from Ares Capital Management (See Note 14) | 0.13 | — | |||||||||||||||||
Issuances of convertible notes | 0.04 | — | |||||||||||||||||
Issuances of common stock | Issuances of common stock | 0.07 | — | ||||||||||||||||
Repurchases of common stock | Repurchases of common stock | — | 0.11 | ||||||||||||||||
Net investment income for period(2) | 0.87 | 1.13 | Net investment income for period(2) | 1.13 | 1.33 | ||||||||||||||
Net realized and unrealized gains for period(2) | 0.15 | 0.14 | |||||||||||||||||
Net realized and unrealized gains (losses) for period(2) | Net realized and unrealized gains (losses) for period(2) | 1.56 | (1.08) | ||||||||||||||||
Net increase in stockholders’ equity | 1.18 | 1.27 | Net increase in stockholders’ equity | 2.76 | 0.36 | ||||||||||||||
Total distributions to stockholders | (1.14 | ) | (1.14 | ) | Total distributions to stockholders | (1.21) | (1.20) | ||||||||||||
Net asset value at end of period(1) | $ | 16.49 | $ | 16.59 | Net asset value at end of period(1) | $ | 18.52 | $ | 16.48 | ||||||||||
Per share market value at end of period | $ | 16.39 | $ | 15.50 | Per share market value at end of period | $ | 20.33 | $ | 13.95 | ||||||||||
Total return based on market value(3) | 6.31 | % | 16.77 | % | Total return based on market value(3) | 27.53 | % | (18.77) | % | ||||||||||
Total return based on net asset value(4) | 7.32 | % | 7.69 | % | Total return based on net asset value(4) | 20.87 | % | 0.09 | % | ||||||||||
Shares outstanding at end of period | 426 | 314 | Shares outstanding at end of period | 461 | 423 | ||||||||||||||
Ratio/Supplemental Data: | Ratio/Supplemental Data: | ||||||||||||||||||
Net assets at end of period | $ | 7,028 | $ | 5,209 | Net assets at end of period | $ | 8,537 | $ | 6,963 | ||||||||||
Ratio of operating expenses to average net assets, excluding the Fee Waiver(5)(6) | 9.93 | % | 9.83 | % | |||||||||||||||
Ratio of operating expenses to average net assets, net of the Fee Waiver(5)(6) | 9.53 | % | 9.83 | % | |||||||||||||||
Ratio of operating expenses to average net assets(5)(6) | Ratio of operating expenses to average net assets(5)(6) | 4.32 | % | 9.50 | % | ||||||||||||||
Ratio of net investment income to average net assets(5)(7) | 7.53 | % | 9.12 | % | Ratio of net investment income to average net assets(5)(7) | 3.13 | % | 10.88 | % | ||||||||||
Portfolio turnover rate(5) | 53 | % | 36 | % | Portfolio turnover rate(5) | 54 | % | 29 | % |
(2)Weighted average basic |
Common stock issued by the Company | $ | 1,839 | |
Cash consideration paid by the Company | 1,502 | ||
Deemed contribution from Ares Capital Management | 54 | ||
Total purchase price | $ | 3,395 | |
Assets acquired: | |||
Investments(1) | $ | 2,543 | |
Cash and cash equivalents | 961 | ||
Other assets(2) | 117 | ||
Total assets acquired | $ | 3,621 | |
Liabilities assumed(3) | (226 | ) | |
Net assets acquired | $ | 3,395 |
Receivable for open trades | $ | 45 | |
Escrows receivable | 41 | ||
Interest receivable | 9 | ||
Other assets | 22 | ||
Total | $ | 117 |
(3) |
Severance and other payroll related | $ | 95 | |
Lease abandonments | 55 | ||
Long term incentive plan (see Note 12) | 31 | ||
Escrows payable | 25 | ||
Other liabilities | 20 | ||
Total | $ | 226 |
For the Nine Months Ended September 30, | |||||||||||
2021 | 2020 | ||||||||||
Base management fees | 1.11 | % | 3.09 | % | |||||||
Income based fees and capital gains incentive fees | 1.42 | % | 1.32 | % | |||||||
Cost of borrowing | 1.60 | % | 4.52 | % | |||||||
Other operating expenses | 0.19 | % | 0.57 | % | |||||||
Total operating expenses | 4.32 | % | 9.50 | % |
For the Three Months Ended September 30, | |||||||||||
(dollar amounts in millions) | 2021 | 2020 | |||||||||
New investment commitments(1): | |||||||||||
New portfolio companies | $ | 1,215 | $ | 414 | |||||||
Existing portfolio companies | 1,895 | 292 | |||||||||
Total new investment commitments(2) | $ | 3,110 | $ | 706 | |||||||
Less: | |||||||||||
Investment commitments exited(3) | (2,263) | (352) | |||||||||
Net investment commitments | $ | 847 | $ | 354 | |||||||
Principal amount of investments funded: | |||||||||||
First lien senior secured loans(4) | $ | 1,912 | $ | 589 | |||||||
Second lien senior secured loans | 111 | 1 | |||||||||
Subordinated certificates of the SDLP(5) | 96 | — | |||||||||
Senior subordinated loans | 131 | 1 | |||||||||
Preferred equity | 188 | 31 | |||||||||
Other equity | 93 | 10 | |||||||||
Total | $ | 2,531 | $ | 632 | |||||||
Principal amount of investments sold or repaid: | |||||||||||
First lien senior secured loans(4) | $ | 1,446 | $ | 332 | |||||||
Second lien senior secured loans | 247 | 125 | |||||||||
Subordinated certificates of the SDLP(5) | 125 | 4 | |||||||||
Senior subordinated loans | 113 | 9 | |||||||||
Preferred equity | 130 | 5 | |||||||||
Other equity | 16 | 6 | |||||||||
Total | $ | 2,077 | $ | 481 | |||||||
Number of new investment commitments(6) | 47 | 24 | |||||||||
Average new investment commitment amount | $ | 66 | $ | 29 | |||||||
Weighted average term for new investment commitments (in months) | 77 | 58 | |||||||||
Percentage of new investment commitments at floating rates | 90 | % | 90 | % | |||||||
Percentage of new investment commitments at fixed rates | 7 | % | 7 | % | |||||||
Weighted average yield of debt and other income producing securities(7): | |||||||||||
Funded during the period at amortized cost | 7.7 | % | 8.1 | % | |||||||
Funded during the period at fair value(8) | 7.8 | % | 8.2 | % | |||||||
Exited or repaid during the period at amortized cost | 8.6 | % | 8.2 | % | |||||||
Exited or repaid during the period at fair value(8) | 8.7 | % | 8.1 | % | |||||||
For the Three Months Ended September 30, | |||||||
(dollar amounts in millions) | 2017 | 2016 | |||||
New investment commitments(1)(5): | |||||||
New portfolio companies | $ | 678 | $ | 1,029 | |||
Existing portfolio companies | 868 | 500 | |||||
Total new investment commitments(2) | $ | 1,546 | $ | 1,529 | |||
Less: | |||||||
Investment commitments exited(3) | 1,644 | 1,499 | |||||
Net investment commitments | $ | (98 | ) | $ | 30 | ||
Principal amount of investments funded(5): | |||||||
First lien senior secured loans | $ | 659 | $ | 779 | |||
Second lien senior secured loans | 524 | 346 | |||||
Subordinated certificates of the SDLP(4) | 45 | 195 | |||||
Senior subordinated loans | 119 | 20 | |||||
Preferred equity securities | 6 | 31 | |||||
Other equity securities | 22 | 14 | |||||
Total | $ | 1,375 | $ | 1,385 | |||
Principal amount of investments sold or repaid(5): | |||||||
First lien senior secured loans | $ | 439 | $ | 1,114 | |||
Second lien senior secured loans | 289 | 279 | |||||
Subordinated certificates of the SDLP(4) | 2 | — | |||||
Subordinated certificates of the SSLP | 474 | — | |||||
Senior subordinated loans | 75 | 55 | |||||
Collateralized loan obligations | 40 | — | |||||
Preferred equity securities | 48 | 1 | |||||
Other equity securities | 162 | 4 | |||||
Total(6) | $ | 1,529 | $ | 1,453 | |||
Number of new investment commitments(5)(7) | 40 | 28 | |||||
Average new investment commitment amount(5) | $ | 39 | $ | 55 | |||
Weighted average term for new investment commitments (in months)(5)(8) | 76 | 94 | |||||
Percentage of new investment commitments at floating rates(5) | 89 | % | 90 | % | |||
Percentage of new investment commitments at fixed rates(5) | 9 | % | 7 | % | |||
Weighted average yield of debt and other income producing securities(5): | |||||||
Funded during the period at amortized cost | 9.4 | % | 9.8 | % | |||
Funded during the period at fair value(9) | 9.3 | % | 9.7 | % | |||
Exited or repaid during the period at amortized cost | 8.2 | % | 8.2 | % | |||
Exited or repaid during the period at fair value(9) | 8.3 | % | 8.2 | % |
As of | |||||||||||||||||||||||
September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||
(in millions) | Amortized Cost | Fair Value(1) | Amortized Cost | Fair Value | |||||||||||||||||||
First lien senior secured loans(2) | $ | 8,788 | $ | 8,656 | $ | 7,224 | $ | 6,987 | |||||||||||||||
Second lien senior secured loans | 4,158 | 4,071 | 4,386 | 4,171 | |||||||||||||||||||
Subordinated certificates of the SDLP(3) | 932 | 932 | 1,123 | 1,123 | |||||||||||||||||||
Senior subordinated loans | 1,053 | 993 | 1,005 | 951 | |||||||||||||||||||
Preferred equity | 1,296 | 1,272 | 1,020 | 926 | |||||||||||||||||||
Other equity | 1,400 | 1,753 | 1,156 | 1,357 | |||||||||||||||||||
Total | $ | 17,627 | $ | 17,677 | $ | 15,914 | $ | 15,515 |
As of | |||||||||||||||
September 30, 2017 | December 31, 2016 | ||||||||||||||
(in millions) | Amortized Cost | Fair Value | Amortized Cost | Fair Value | |||||||||||
First lien senior secured loans | $ | 4,797 | $ | 4,657 | $ | 2,102 | $ | 2,036 | |||||||
Second lien senior secured loans | 4,198 | 4,082 | 3,069 | 2,987 | |||||||||||
Subordinated certificates of the SDLP(1) | 437 | 437 | 270 | 270 | |||||||||||
Subordinated certificates of the SSLP(2) | — | — | 1,938 | 1,914 | |||||||||||
Senior subordinated loans | 895 | 922 | 692 | 714 | |||||||||||
Collateralized loan obligations | 161 | 158 | — | — | |||||||||||
Preferred equity securities | 628 | 435 | 505 | 273 | |||||||||||
Other equity securities | 624 | 765 | 458 | 626 | |||||||||||
Total | $ | 11,740 | $ | 11,456 | $ | 9,034 | $ | 8,820 |
As of | As of | |||||||||||||||||||||||||||||||||
September 30, 2017 | December 31, 2016 | September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||
Amortized Cost | Fair Value | Amortized Cost | Fair Value | Amortized Cost | Fair Value | Amortized Cost | Fair Value | |||||||||||||||||||||||||||
Debt and other income producing securities(1) | 9.6 | % | 9.7 | % | 9.3 | % | 9.4 | % | Debt and other income producing securities(1) | 8.6 | % | 8.6 | % | 9.1 | % | 9.2 | % | |||||||||||||||||
Total portfolio(2) | 8.5 | % | 8.7 | % | 8.3 | % | 8.5 | % | Total portfolio(2) | 7.7 | % | 7.6 | % | 8.0 | % | 8.2 | % | |||||||||||||||||
First lien senior secured loans(2) | 7.8 | % | 8.0 | % | 8.4 | % | 8.6 | % | First lien senior secured loans(2) | 7.3 | % | 7.4 | % | 7.7 | % | 8.0 | % | |||||||||||||||||
Second lien senior secured loans(2) | 9.8 | % | 10.1 | % | 9.8 | % | 10.1 | % | Second lien senior secured loans(2) | 8.9 | % | 9.1 | % | 8.7 | % | 9.1 | % | |||||||||||||||||
Subordinated certificates of the SDLP(2)(3) | 14.0 | % | 14.0 | % | 14.0 | % | 14.0 | % | Subordinated certificates of the SDLP(2)(3) | 13.5 | % | 13.5 | % | 13.5 | % | 13.5 | % | |||||||||||||||||
Subordinated certificates of the SSLP(2)(4) | — | % | — | % | 7.0 | % | 7.1 | % | ||||||||||||||||||||||||||
Senior subordinated loans(2) | 12.9 | % | 12.5 | % | 12.4 | % | 12.0 | % | Senior subordinated loans(2) | 9.0 | % | 9.6 | % | 9.0 | % | 9.5 | % | |||||||||||||||||
Collateralized loan obligations | 10.5 | % | 10.7 | % | — | % | — | % | ||||||||||||||||||||||||||
Income producing equity securities(2) | 12.7 | % | 12.7 | % | 13.8 | % | 13.8 | % | Income producing equity securities(2) | 10.6 | % | 10.1 | % | 11.2 | % | 10.8 | % |
(2)“Weighted average yields” are computed as (a) the annual stated interest rate or yield earned plus the net annual amortization of original issue discount and market discount or premium earned on the relevant accruing debt and other income producing securities, divided by (b) the total relevant investments at amortized cost or at fair value as applicable. (3)The proceeds from these certificates were applied to co-investments with Varagon and its clients to fund first lien senior secured loans. |
As of | |||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||
(dollar amounts in millions) | Fair Value | % | Number of Companies | % | Fair Value | % | Number of Companies | % | |||||||||||||||||||||||||||||||||||||||
Grade 1 | $ | 95 | 0.5 | % | 19 | 5.1 | % | $ | 117 | 0.7 | % | 25 | 7.1 | % | |||||||||||||||||||||||||||||||||
Grade 2 | 1,116 | 6.3 | % | 25 | 6.7 | % | 2,046 | 13.2 | % | 47 | 13.4 | % | |||||||||||||||||||||||||||||||||||
Grade 3 | 14,451 | 81.8 | % | 284 | 76.6 | % | 11,756 | 75.8 | % | 244 | 69.8 | % | |||||||||||||||||||||||||||||||||||
Grade 4 | 2,015 | 11.4 | % | 43 | 11.6 | % | 1,596 | 10.3 | % | 34 | 9.7 | % | |||||||||||||||||||||||||||||||||||
Total | $ | 17,677 | 100.0 | % | 371 | 100.0 | % | $ | 15,515 | 100.0 | % | 350 | 100.0 | % |
As of | ||||||||||||||||||||||||||
September 30, 2017 | December 31, 2016 | |||||||||||||||||||||||||
(dollar amounts in millions) | Fair Value | % | Number of Companies | % | Fair Value | % | Number of Companies | % | ||||||||||||||||||
Grade 1 | $ | 90 | 0.8 | % | $ | 17 | 5.2 | % | $ | 92 | 1.0 | % | 13 | 6.0 | % | |||||||||||
Grade 2 | 349 | 3.0 | % | 14 | 4.3 | % | 323 | 3.7 | % | 12 | 5.5 | % | ||||||||||||||
Grade 3 | 9,780 | 85.4 | % | 275 | 84.6 | % | 7,451 | 84.4 | % | 172 | 78.9 | % | ||||||||||||||
Grade 4 | 1,237 | 10.8 | % | 19 | 5.9 | % | 954 | 10.9 | % | 21 | 9.6 | % | ||||||||||||||
Total | $ | 11,456 | 100.0 | % | 325 | 100.0 | % | $ | 8,820 | 100.0 | % | 218 | 100.0 | % |
As of | As of | |||||||||||||||||
(in millions) | September 30, 2017 | December 31, 2016 | (in millions) | September 30, 2021 | December 31, 2020 | |||||||||||||
Total capital funded to the SDLP(1) | $ | 2,083 | $ | 1,285 | Total capital funded to the SDLP(1) | $ | 3,691 | $ | 4,772 | |||||||||
Total capital funded to the SDLP by the Company(1) | $ | 437 | $ | 270 | Total capital funded to the SDLP by the Company(1) | $ | 932 | $ | 1,123 | |||||||||
Total unfunded capital commitments to the SDLP(2) | $ | 156 | $ | 177 | Total unfunded capital commitments to the SDLP(2) | $ | 194 | $ | 152 | |||||||||
Total unfunded capital commitments to the SDLP by the Company(2) | $ | 33 | $ | 37 | Total unfunded capital commitments to the SDLP by the Company(2) | $ | 49 | $ | 37 |
As of | As of | |||||||||||||||||
(dollar amounts in millions) | September 30, 2017 | December 31, 2016 | (dollar amounts in millions) | September 30, 2021 | December 31, 2020 | |||||||||||||
Total first lien senior secured loans(1) | $ | 2,079 | $ | 1,281 | ||||||||||||||
Weighted average yield on first lien senior secured loans(2) | 7.4 | % | 7.4 | % | ||||||||||||||
Total first lien senior secured loans(1)(2) | Total first lien senior secured loans(1)(2) | $ | 3,711 | $ | 4,483 | |||||||||||||
Weighted average yield on first lien senior secured loans(3) | Weighted average yield on first lien senior secured loans(3) | 6.8 | % | 6.9 | % | |||||||||||||
Largest loan to a single borrower(1) | $ | 200 | $ | 125 | Largest loan to a single borrower(1) | $ | 343 | $ | 345 | |||||||||
Total of five largest loans to borrowers(1) | $ | 886 | $ | 560 | Total of five largest loans to borrowers(1) | $ | 1,541 | $ | 1,565 | |||||||||
Number of borrowers in the SDLP | 18 | 14 | Number of borrowers in the SDLP | 17 | 23 | |||||||||||||
Commitments to fund delayed draw loans (3) | $ | 156 | $ | 177 | ||||||||||||||
Commitments to fund delayed draw loans (4) | Commitments to fund delayed draw loans (4) | $ | 194 | $ | 152 |
(in millions) | |||
Total capital funded to the SSLP(1) | $ | 3,819 | |
Total capital funded to the SSLP by the Company(1) | $ | 2,004 | |
Total unfunded capital commitments to the SSLP(2) | $ | 50 | |
Total unfunded capital commitments to the SSLP by the Company(2) | $ | 7 |
(dollar amounts in millions) | |||
Total first lien senior secured loans(1) | $ | 3,360 | |
Weighted average yield on first lien senior secured loans(2) | 6.9 | % | |
Largest loan to a single borrower(1) | $ | 260 | |
Total of five largest loans to borrowers(1) | $ | 1,257 | |
Number of borrowers in the SSLP | 19 | ||
Commitments to fund delay draw loans(3) | $ | 50 |
(dollar amounts in millions) Portfolio Company | Business Description | Maturity Date | Stated Interest Rate(1) | Principal Amount | Fair Value(2) | |||||||||||
AMZ Holding Corp. | Specialty chemicals manufacturer | 12/2018 | 6.8 | % | $ | 214 | $ | 214 | ||||||||
Breg, Inc. | Designer, manufacturer, and distributor of non-surgical orthopedic products for preventative, post-operative and rehabilitative use | 10/2020 | 6.8 | % | 147 | 147 | ||||||||||
Connoisseur Media, LLC | Owner and operator of radio stations | 6/2019 | 7.3 | % | 94 | 94 | ||||||||||
DFS Holding Company, Inc. | Distributor of maintenance, repair, and operations parts, supplies, and equipment to the foodservice industry | 2/2022 | 6.5 | % | 191 | 191 | ||||||||||
Drayer Physical Therapy Institute, LLC | Outpatient physical therapy provider | 7/2018 | 8.8 | % | 132 | 132 | ||||||||||
ECI Purchaser Company, LLC | Manufacturer of equipment to safely control pressurized gases | 12/2018 | 6.5 | % | 207 | 201 | ||||||||||
Excelligence Learning Corporation | Developer, manufacturer and retailer of educational products | 12/2020 | 6.8 | % | 175 | 175 | ||||||||||
Gehl Foods, LLC(4) | Producer of low-acid, aseptic food and beverage products | 6/2019 | 7.5 | % | 155 | 155 | ||||||||||
Implus Footcare, LLC | Provider of footwear and other accessories | 4/2021 | 7.0 | % | 260 | 252 | ||||||||||
Intermedix Corporation(3) | Revenue cycle management provider to the emergency healthcare industry | 12/2019 | 5.8 | % | 254 | 251 | ||||||||||
Mavis Tire Supply LLC | Auto parts retailer | 10/2020 | 6.3 | % | 230 | 225 | ||||||||||
MCH Holdings, Inc.(4) | Healthcare professional provider | 1/2020 | 6.5 | % | 168 | 168 | ||||||||||
Palermo Finance Corporation | Provider of mission-critical integrated public safety software and services to local, state, and federal agencies | 11/2020 | 7.0 | % | 185 | 185 | ||||||||||
Sanders Industries Holdings, Inc.(4) | Elastomeric parts, mid-sized composite structures, and composite tooling | 5/2020 | 6.5 | % | 76 | 76 | ||||||||||
Singer Sewing Company | Manufacturer of consumer sewing machines | 6/2017 | 7.8 | % | 181 | 178 | ||||||||||
STATS Acquisition, LLC | Sports technology, data and content company | 6/2018 | 10.8 | % | 102 | 99 | ||||||||||
U.S. Anesthesia Partners, Inc.(3) | Anesthesiology service provider | 12/2019 | 6.0 | % | 259 | 259 | ||||||||||
WCI-Quantum Holdings, Inc.(4) | Distributor of instructional products, services and resources | 10/2020 | 6.1 | % | 76 | 76 | ||||||||||
Woodstream Group, Inc. | Pet products manufacturer | 5/2022 | 7.3 | % | 254 | 254 | ||||||||||
$ | 3,360 | $ | 3,332 |
As of | |||||||||||
(in millions) | September 30, 2021 | December 31, 2020 | |||||||||
Selected Balance Sheet Information: | |||||||||||
Investments at fair value (amortized cost of $3,710 and $4,483, respectively) | $ | 3,657 | $ | 4,345 | |||||||
Other assets | 86 | 400 | |||||||||
Total assets | $ | 3,743 | $ | 4,745 | |||||||
Senior notes | $ | 2,528 | $ | 3,364 | |||||||
Intermediate funding notes | 97 | 124 | |||||||||
Other liabilities | 50 | 52 | |||||||||
Total liabilities | 2,675 | 3,540 | |||||||||
Subordinated certificates and members’ capital | 1,068 | 1,205 | |||||||||
Total liabilities and members’ capital | $ | 3,743 | $ | 4,745 |
For the Nine Months Ended September 30, | |||||||||||||||||||||||
(in millions) | 2021 | 2020 | |||||||||||||||||||||
Selected Statement of Operations Information: | |||||||||||||||||||||||
Total investment income | $ | 213 | $ | 226 | |||||||||||||||||||
Interest expense | 69 | 89 | |||||||||||||||||||||
Other expenses | 13 | 12 | |||||||||||||||||||||
Total expenses | 82 | 101 | |||||||||||||||||||||
Net investment income | 131 | 125 | |||||||||||||||||||||
Net realized and unrealized gains (losses) on investments | 84 | (91) | |||||||||||||||||||||
Net increase in members’ capital resulting from operations | $ | 215 | $ | 34 |
(in millions) | As of December 31, 2016 | ||
Selected Balance Sheet Information: | |||
Investments in loans receivable, net | $ | 3,343 | |
Cash and other assets | 439 | ||
Total assets | $ | 3,782 | |
Senior notes (1) | $ | 1,529 | |
Other liabilities | 45 | ||
Total liabilities | 1,574 | ||
Subordinated certificates and members’ capital | 2,208 | ||
Total liabilities and members’ capital | $ | 3,782 | |
(in millions) | For the Nine Months Ended September 30, 2016 | ||
Selected Statement of Operations Information: | |||
Total interest and other income | $ | 383 | |
Interest expense | 125 | ||
Management and sourcing fees | 40 | ||
Other expenses | 18 | ||
Total expenses | 183 | ||
Net income | $ | 200 |
(dollar amounts in millions) Portfolio Company | Business Description | Maturity Date | Stated Interest Rate(1) | Principal Amount | Fair Value(2) | |||||||||||||||||||||||||||
Arrowhead Holdco Company (3)(4) | Distributor of non-discretionary, mission critical aftermarket replacement parts | 8/2028 | 5.3 | % | $ | 222.6 | $ | 220.4 | ||||||||||||||||||||||||
Benecon Midco II LLC (3)(4) | Employee benefits provider for small and mid-size employers | 12/2026 | 6.5 | % | 174.1 | 174.1 | ||||||||||||||||||||||||||
Center for Autism and Related Disorders, LLC (3) | Autism treatment and services provider specializing in applied behavior analysis therapy | 11/2024 | 6.8 | % | 139.4 | 133.8 | ||||||||||||||||||||||||||
Emergency Communications Network, LLC (3) | Provider of mission critical emergency mass notification solutions | 6/2023 | 8.8 | % | 226.8 | 213.2 | ||||||||||||||||||||||||||
EP Purchaser, LLC and Entertainment Partners Canada ULC (3)(4) | Provider of entertainment workforce and production management solutions | 5/2026 | 5.9 | % | 342.1 | 342.1 | ||||||||||||||||||||||||||
Excelligence Learning Corporation (3) | Developer, manufacturer and retailer of educational products | 4/2023 | 7.5 | % | 153.9 | 143.1 | ||||||||||||||||||||||||||
FS Squared Holding Corp. (3)(4) | Provider of on-site vending and micro-market solutions to employers | 3/2025 | 5.3 | % | 244.9 | 245.0 | ||||||||||||||||||||||||||
Manna Pro Products, LLC (3) | Manufacturer and supplier of specialty nutrition and care products for animals | 12/2026 | 7.0 | % | 225.5 | 225.5 | ||||||||||||||||||||||||||
n2y Holding, LLC (3) | Developer of cloud-based special education platform | 11/2026 | 7.0 | % | 195.9 | 195.9 | ||||||||||||||||||||||||||
NCWS Intermediate, Inc. (3)(4) | Manufacturer and supplier of car wash equipment, parts and supplies to the conveyorized car wash market | 12/2026 | 7.5 | % | 250.7 | 250.7 | ||||||||||||||||||||||||||
North Haven Falcon Buyer, LLC (3)(4) | Manufacturer of aftermarket golf cart parts and accessories | 5/2027 | 7.0 | % | 188.4 | 186.5 | ||||||||||||||||||||||||||
Pegasus Global Enterprise Holdings, LLC (3)(4) | Provider of plant maintenance and scheduling software | 5/2025 | 6.8 | % | 342.8 | 342.8 | ||||||||||||||||||||||||||
Penn Detroit Diesel Allison, LLC | Distributor of aftermarket parts to the heavy-duty truck industry | 12/2023 | 8.0 | % | 62.9 | 62.9 | ||||||||||||||||||||||||||
Precinmac (US) Holdings Inc. and Trimaster Manufacturing Inc. (3)(4) | Manufacturer of high-tolerance precision machined components and assemblies for the aerospace and defense industry | 8/2027 | 7.0 | % | 203.3 | 201.2 | ||||||||||||||||||||||||||
THG Acquisition, LLC (3) | Multi-line insurance broker | 12/2026 | 6.8 | % | 292.8 | 292.8 | ||||||||||||||||||||||||||
Towne Holdings, Inc. | Parking management and hospitality services provider | 5/2022 | 9.8 | % | 131.9 | 114.8 | ||||||||||||||||||||||||||
Walnut Parent, Inc. (3) | Manufacturer of natural solution pest and animal control products | 11/2027 | 6.5 | % | 312.6 | 312.6 | ||||||||||||||||||||||||||
$ | 3,710.6 | $ | 3,657.4 |
(dollar amounts in millions) Portfolio Company | Business Description | Maturity Date | Stated Interest Rate(1) | Principal Amount | Fair Value(2) | |||||||||||||||||||||||||||
ADCS Clinics Intermediate Holdings, LLC (3) | Dermatology practice | 5/2022 | 6.8 | % | $ | 77.0 | $ | 75.5 | ||||||||||||||||||||||||
AEP Holdings, Inc. (3)(4) | Distributor of non-discretionary, mission critical aftermarket replacement parts | 11/2025 | 6.8 | % | 253.5 | 248.4 | ||||||||||||||||||||||||||
BakeMark Holdings, Inc. | Manufacturer and distributor of specialty bakery ingredients | 8/2023 | 6.3 | % | 242.8 | 242.8 | ||||||||||||||||||||||||||
Benecon Midco II LLC (3)(4) | Employee benefits provider for small and mid-size employers | 12/2026 | 6.5 | % | 175.0 | 173.0 | ||||||||||||||||||||||||||
Center for Autism and Related Disorders, LLC (3) | Autism treatment and services provider specializing in applied behavior analysis therapy | 11/2024 | 5.5 | % | 123.0 | 115.7 | ||||||||||||||||||||||||||
Chariot Acquisition, LLC (3) | Manufacturer of aftermarket golf cart parts and accessories | 9/2021 | 7.3 | % | 97.7 | 97.7 | ||||||||||||||||||||||||||
Emergency Communications Network, LLC (3) | Provider of mission critical emergency mass notification solutions | 6/2023 | 8.8 | % | 219.1 | 195.0 | ||||||||||||||||||||||||||
EP Purchaser, LLC and Entertainment Partners Canada ULC (3)(4) | Provider of entertainment workforce and production management solutions | 5/2026 | 6.5 | % | 344.7 | 324.1 | ||||||||||||||||||||||||||
Excelligence Learning Corporation (3) | Developer, manufacturer and retailer of educational products | 4/2023 | 8.0 | % | 149.6 | 121.2 | ||||||||||||||||||||||||||
FS Squared Holding Corp. (3)(4) | Provider of on-site vending and micro-market solutions to employers | 3/2025 | 5.4 | % | 238.8 | 226.8 | ||||||||||||||||||||||||||
Infogix, Inc. (3)(4) | Enterprise data analytics and integrity software solutions provider | 4/2024 | 7.0 | % | 124.3 | 124.3 | ||||||||||||||||||||||||||
KeyImpact Holdings, Inc. (4) | Foodservice sales and marketing agency | 1/2022 | 8.9 | % | 73.6 | 73.6 | ||||||||||||||||||||||||||
Manna Pro Products, LLC (3) | Manufacturer and supplier of specialty nutrition and care products for animals | 12/2026 | 7.0 | % | 182.6 | 180.8 | ||||||||||||||||||||||||||
n2y Holding, LLC (3) | Developer of cloud-based special education platform | 11/2026 | 6.8 | % | 197.4 | 197.4 | ||||||||||||||||||||||||||
NCWS Intermediate, Inc. (3)(4) | Manufacturer and supplier of car wash equipment, parts and supplies to the conveyorized car wash market | 12/2026 | 7.5 | % | 211.8 | 209.6 | ||||||||||||||||||||||||||
Nordco Inc. (3) | Manufacturer of railroad maintenance-of-way machinery | 12/2022 | 9.5 | % | 106.8 | 103.6 | ||||||||||||||||||||||||||
Pegasus Global Enterprise Holdings, LLC (3)(4) | Provider of plant maintenance and scheduling software | 5/2025 | 6.8 | % | 345.4 | 345.4 | ||||||||||||||||||||||||||
Penn Detroit Diesel Allison, LLC | Distributor of aftermarket parts to the heavy-duty truck industry | 12/2023 | 8.0 | % | 71.7 | 71.7 | ||||||||||||||||||||||||||
SM Wellness Holdings, Inc. (3)(4) | Breast cancer screening provider | 8/2024 | 7.0 | % | 271.0 | 268.2 | ||||||||||||||||||||||||||
TDG Group Holding Company (3)(4) | Operator of multiple franchise concepts primarily related to home maintenance or repairs | 5/2024 | 5.4 | % | 243.8 | 243.8 | ||||||||||||||||||||||||||
THG Acquisition, LLC (3) | Multi-line insurance broker | 12/2026 | 6.8 | % | 288.5 | 285.8 | ||||||||||||||||||||||||||
Towne Holdings, Inc. | Parking management and hospitality services provider | 5/2022 | 9.8 | % | 129.9 | 110.4 | ||||||||||||||||||||||||||
Walnut Parent, Inc. (3) | Manufacturer of natural solution pest and animal control products | 11/2027 | 6.5 | % | 315.0 | 310.3 | ||||||||||||||||||||||||||
$ | 4,483.0 | $ | 4,345.1 |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||
(in millions) | 2017 | 2016 | 2017 | 2016 | (in millions) | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||
Total investment income | $ | 294 | $ | 258 | $ | 853 | $ | 752 | Total investment income | $ | 442 | $ | 352 | $ | 1,291 | $ | 1,071 | |||||||||||||||||||||
Total expenses, net of waiver of income based fees | 136 | 116 | 468 | 383 | ||||||||||||||||||||||||||||||||||
Total expenses | Total expenses | 253 | 182 | 771 | 494 | |||||||||||||||||||||||||||||||||
Net investment income before income taxes | 158 | 142 | 385 | 369 | Net investment income before income taxes | 189 | 170 | 520 | 577 | |||||||||||||||||||||||||||||
Income tax expense, including excise tax | 5 | 4 | 14 | 13 | Income tax expense, including excise tax | 5 | 4 | 21 | 12 | |||||||||||||||||||||||||||||
Net investment income | 153 | 138 | 371 | 356 | Net investment income | 184 | 166 | 499 | 565 | |||||||||||||||||||||||||||||
Net realized gains on investments and foreign currency transactions | 35 | 20 | 147 | 78 | ||||||||||||||||||||||||||||||||||
Net unrealized losses on investments, foreign currency and other transactions | (49 | ) | (48 | ) | (79 | ) | (35 | ) | ||||||||||||||||||||||||||||||
Realized losses on extinguishment of debt | — | — | (4 | ) | — | |||||||||||||||||||||||||||||||||
Net realized gains (losses) on investments, foreign currency and other transactions | Net realized gains (losses) on investments, foreign currency and other transactions | 149 | (25) | 267 | 17 | |||||||||||||||||||||||||||||||||
Net unrealized gains (losses) on investments, foreign currency and other transactions | Net unrealized gains (losses) on investments, foreign currency and other transactions | 1 | 300 | 462 | (476) | |||||||||||||||||||||||||||||||||
Realized loss on extinguishment of debt | Realized loss on extinguishment of debt | — | — | (43) | — | |||||||||||||||||||||||||||||||||
Net increase in stockholders’ equity resulting from operations | $ | 139 | $ | 110 | $ | 435 | $ | 399 | Net increase in stockholders’ equity resulting from operations | $ | 334 | $ | 441 | $ | 1,185 | $ | 106 |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||
(in millions) | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||
Interest income from investments | $ | 317 | $ | 280 | $ | 911 | $ | 865 | |||||||||||||||
Capital structuring service fees | 59 | 12 | 190 | 56 | |||||||||||||||||||
Dividend income | 54 | 37 | 158 | 109 | |||||||||||||||||||
Other income | 12 | 23 | 32 | 41 | |||||||||||||||||||
Total investment income | $ | 442 | $ | 352 | $ | 1,291 | $ | 1,071 |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||
(in millions) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Interest income from investments | $ | 238 | $ | 200 | $ | 700 | $ | 612 | |||||||
Capital structuring service fees | 32 | 35 | 73 | 62 | |||||||||||
Dividend income | 18 | 16 | 58 | 53 | |||||||||||
Management and other fees | 1 | 4 | 6 | 14 | |||||||||||
Other income | 5 | 3 | 16 | 11 | |||||||||||
Total investment income | $ | 294 | $ | 258 | $ | 853 | $ | 752 |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||
(in millions) | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||
Average size of portfolio | $ | 17,362 | $ | 14,976 | $ | 16,498 | $ | 15,082 | |||||||||||||||
Weighted average yield on portfolio | 8.0 | % | 7.9 | % | 8.0 | % | 8.1 | % |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||
(in millions) | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||
New investment commitments | $ | 3,110 | $ | 706 | $ | 9,707 | $ | 2,836 | |||||||||||||||
Weighted average capital structuring service fee percentages | 1.9 | % | 1.8 | % | 2.0 | % | 2.0 | % |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||
(in millions) | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||
Dividend income received from IHAM | $ | 23 | $ | 19 | $ | 65 | $ | 54 | |||||||||||||||
Recurring dividends | 30 | 17 | 75 | 53 | |||||||||||||||||||
Non-recurring dividends | 1 | 1 | 18 | 2 | |||||||||||||||||||
Total dividend income | $ | 54 | $ | 37 | $ | 158 | $ | 109 |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||
(in millions) | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||
Interest and credit facility fees | $ | 94 | $ | 77 | $ | 267 | $ | 235 | |||||||||||||||
Base management fees | 65 | 53 | 184 | 161 | |||||||||||||||||||
Income based fees | 53 | 42 | 158 | 127 | |||||||||||||||||||
Capital gains incentive fees(1) | 30 | — | 133 | (58) | |||||||||||||||||||
Administrative fees | 4 | 3 | 11 | 10 | |||||||||||||||||||
Other general and administrative | 7 | 7 | 18 | 19 | |||||||||||||||||||
Total expenses | $ | 253 | $ | 182 | $ | 771 | $ | 494 | |||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||
(in millions) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Interest and credit facility fees | $ | 56 | $ | 43 | $ | 166 | $ | 139 | |||||||
Base management fees | 44 | 34 | 127 | 103 | |||||||||||
Income based fees | 35 | 33 | 97 | 91 | |||||||||||
Capital gains incentive fees | (3 | ) | (6 | ) | 23 | 8 | |||||||||
Administrative fees | 3 | 3 | 9 | 10 | |||||||||||
Professional fees and other costs related to the American Capital Acquisition | 4 | 3 | 42 | 11 | |||||||||||
Other general and administrative | 7 | 6 | 24 | 21 | |||||||||||
Total operating expenses | 146 | 116 | 488 | 383 | |||||||||||
Waiver of income based fees | (10 | ) | — | (20 | ) | — | |||||||||
Total expenses, net of waiver of income based fees | $ | 136 | $ | 116 | $ | 468 | $ | 383 |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||
(in millions) | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||
Stated interest expense | $ | 76 | $ | 64 | $ | 222 | $ | 203 | |||||||||||||||
Credit facility fees | 9 | 4 | 23 | 10 | |||||||||||||||||||
Amortization of debt issuance costs | 9 | 7 | 19 | 16 | |||||||||||||||||||
Net accretion of discount on notes payable | — | 2 | 3 | 6 | |||||||||||||||||||
Total interest and credit facility fees | $ | 94 | $ | 77 | $ | 267 | $ | 235 |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||
(in millions) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Stated interest expense | $ | 46 | $ | 37 | $ | 139 | $ | 119 | |||||||
Facility fees | 3 | 1 | 8 | 4 | |||||||||||
Amortization of debt issuance costs | 5 | 4 | 14 | 11 | |||||||||||
Net accretion of discount on notes payable | 2 | 1 | 5 | 5 | |||||||||||
Total interest and credit facility fees | $ | 56 | $ | 43 | $ | 166 | $ | 139 |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||
(in millions) | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||
Average debt outstanding | $ | 9,409 | $ | 7,495 | $ | 8,869 | $ | 7,635 | |||||||||||||||
Weighted average stated interest rate on debt | 3.3 | % | 3.5 | % | 3.3 | % | 3.5 | % |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||
(in millions) | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||
Sales, repayments or exits of investments(1) | $ | 2,185 | $ | 448 | $ | 6,904 | $ | 3,124 | |||||||||||||||
Net realized gains on investments: | |||||||||||||||||||||||
Gross realized gains | 233 | 9 | 395 | 87 | |||||||||||||||||||
Gross realized losses | (110) | (32) | (137) | (65) | |||||||||||||||||||
Total net realized gains (losses) on investments | $ | 123 | $ | (23) | $ | 258 | $ | 22 |
(in millions) Portfolio Company | Net Realized Gains (Losses) | |||||||
SVP-Singer Holdings Inc. and SVP-Singer Holdings LP | $ | 110 | ||||||
RMCF III CIV XXIX, L.P | 30 | |||||||
GB Auto Service, Inc. and GB Auto Service Holdings, LLC | 29 | |||||||
ChargePoint Holdings, Inc. | 17 | |||||||
PERC Holdings 1 LLC | 11 | |||||||
NECCO Holdings, Inc. and New England Confectionery Company, Inc. | (12) | |||||||
Garden Fresh Restaurant Corp. and GFRC Holdings LLC | (24) | |||||||
ADF Capital, Inc., ADF Restaurant Group, LLC, and ARG Restaurant Holdings, Inc. | (58) | |||||||
Other, net | 20 | |||||||
Total | $ | 123 |
(in millions) Portfolio Company | Net Realized Gains (Losses) | |||
Bellotto Holdings Limited | $ | 58 | ||
EDS Group | 3 | |||
Senior Secured Loan Fund LLC | (18 | ) | ||
Other, net | (1 | ) | ||
Total | $ | 42 |
(in millions) Portfolio Company | Net Realized Gains (Losses) | |||||||
Nodality, Inc. | $ | (12) | ||||||
Other, net | (11) | |||||||
Total | $ | (23) |
(in millions) Portfolio Company | Net Realized Gains (Losses) | |||
UL Holding Co., LLC | $ | 12 | ||
Primexx Energy Corporation | 4 | |||
The Greeley Company, Inc. and HCP Acquisition Holdings, LLC | 3 | |||
Crescent Hotels & Resorts, LLC and affiliates | 3 | |||
LM Acquisition Holdings, LLC | 2 | |||
Q9 Holdings Inc. | (9 | ) | ||
Other, net | 6 | |||
Total | $ | 21 |
(in millions) Portfolio Company | Net Realized Gains (Losses) | |||||||
SVP-Singer Holdings Inc. and SVP-Singer Holdings LP | $ | 110 | ||||||
Blue Angel Buyer 1, LLC and Blue Angel Holdco, LLC | 46 | |||||||
RMCF III CIV XXIX, L.P | 30 | |||||||
GB Auto Service, Inc. and GB Auto Service Holdings, LLC | 29 | |||||||
Evolent Health LLC and Evolent Health, Inc. | 21 | |||||||
BW Landco LLC | 21 | |||||||
Mavis Tire Express Services Topco Corp., Metis HoldCo, Inc., and Metis TopCo, LP | 18 | |||||||
ChargePoint Holdings, Inc. | 17 | |||||||
Crown Health Care Laundry Services, LLC and Crown Laundry Holdings, LLC | 11 | |||||||
PERC Holdings 1 LLC | 11 | |||||||
NECCO Holdings, Inc. and New England Confectionery Company, Inc. | (12) | |||||||
Garden Fresh Restaurant Corp. and GFRC Holdings LLC | (24) | |||||||
ADF Capital, Inc., ADF Restaurant Group, LLC, and ARG Restaurant Holdings, Inc. | (58) | |||||||
Other, net | 38 | |||||||
Total | $ | 258 |
(in millions) Portfolio Company | Net Realized Gains (Losses) | |||
Bellotto Holdings Limited | $ | 58 | ||
10th Street, LLC | 34 | |||
Community Education Centers, Inc. | 24 | |||
Tectum Holdings, Inc. | 17 | |||
NECCO Realty Investments LLC | 13 | |||
GHX Ultimate Parent Corporation | 11 | |||
Wilcon Holdings LLC | 10 | |||
Project Alpha Intermediate Holding, Inc. | 8 | |||
S Toys Holdings LLC | 7 | |||
CIBT Investment Holdings, LLC | 6 | |||
Market Track Holdings, LLC | 6 | |||
Hard 8 Games, LLC | 5 | |||
EDS Group | 3 | |||
Cent CDO 2006-12 | 3 | |||
The Greeley Company, Inc. and HCP Acquisition Holdings, LLC | (12 | ) | ||
Senior Secured Loan Fund LLC | (18 | ) | ||
Competitor Group, Inc. | (21 | ) | ||
Other, net | 13 | |||
Total, net | $ | 167 |
(in millions) Portfolio Company | Net Realized Gains (Losses) | |||||||
UL Holding Co., LLC | $ | 21 | ||||||
PERC Holdings 1 LLC | 16 | |||||||
Dynatrace, Inc. | 11 | |||||||
Nodality, Inc. | (12) | |||||||
Other, net | (14) | |||||||
Total | $ | 22 |
(in millions) Portfolio Company | Net Realized Gains (Losses) | |||
Napa Management Services Corporation | $ | 16 | ||
UL Holding Co., LLC | 12 | |||
Physiotherapy Associates Holdings, Inc. | 8 | |||
Netsmart Technologies, Inc. | 8 | |||
AllBridge Financial, LLC | 6 | |||
Lakeland Tours, LLC | 5 | |||
WorldPay Group PLC | 4 | |||
Primexx Energy Corporation | 4 | |||
MedAssets, Inc. | 3 | |||
The Greeley Company, Inc. and HCP Acquisition Holdings, LLC | 3 | |||
Crescent Hotels & Resorts, LLC and affiliates | 3 | |||
LM Acquisition Holdings, LLC | 2 | |||
Q9 Holdings Inc. | (9 | ) | ||
Other, net | 14 | |||
Total, net | $ | 79 |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||
(in millions) | 2017 | 2016 | 2017 | 2016 | (in millions) | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||
Unrealized appreciation | $ | 126 | $ | 60 | $ | 203 | $ | 165 | Unrealized appreciation | $ | 230 | $ | 375 | $ | 612 | $ | 271 | |||||||||||||||||||||
Unrealized depreciation | (138 | ) | (106 | ) | (257 | ) | (182 | ) | Unrealized depreciation | (127) | (104) | (118) | (783) | |||||||||||||||||||||||||
Net unrealized appreciation reversed related to net realized gains or losses(1) | (35 | ) | 2 | (19 | ) | (14 | ) | |||||||||||||||||||||||||||||||
Total net unrealized losses | $ | (47 | ) | $ | (44 | ) | $ | (73 | ) | $ | (31 | ) | ||||||||||||||||||||||||||
Net unrealized (appreciation) depreciation reversed related to net realized gains or losses(1) | Net unrealized (appreciation) depreciation reversed related to net realized gains or losses(1) | (91) | 35 | (37) | 36 | |||||||||||||||||||||||||||||||||
Total net unrealized gains (losses) on investments | Total net unrealized gains (losses) on investments | $ | 12 | $ | 306 | $ | 457 | $ | (476) |
(in millions) Portfolio Company | Net Unrealized Appreciation (Depreciation) | |||||||
Ivy Hill Asset Management, L.P. | $ | 19 | ||||||
CoreLogic, Inc. and T-VIII Celestial Co-Invest LP | 14 | |||||||
OTG Management, LLC | 11 | |||||||
Other, net | 59 | |||||||
Total | $ | 103 |
(in millions) Portfolio Company | Net Unrealized Appreciation (Depreciation) | |||
Alcami Holdings, LLC | $ | 64 | ||
CCS Intermediate Holdings, LLC | 13 | |||
Cadence Aerospace, LLC | 6 | |||
UL Holding Co., LLC | 4 | |||
NECCO Holdings, Inc. | (3 | ) | ||
ADG, LLC | (3 | ) | ||
ECI Purchaser Company, LLC | (4 | ) | ||
FastMed Holdings I, LLC | (4 | ) | ||
Indra Holdings Corp. | (5 | ) | ||
PERC Holdings 1 LLC | (5 | ) | ||
New Trident Holdcorp, Inc. | (6 | ) | ||
Shock Doctor, Inc. | (7 | ) | ||
Ivy Hill Asset Management, L.P. | (8 | ) | ||
Singer Sewing Company | (9 | ) | ||
Instituto de Banca y Comercio, Inc. | (15 | ) | ||
Other, net | (30 | ) | ||
Total | $ | (12 | ) |
(in millions) Portfolio Company | Net Unrealized Appreciation (Depreciation) | |||||||
SVP-Singer Holdings Inc. and SVP-Singer Holdings LP | $ | 70 | ||||||
Senior Direct Lending Program, LLC | 46 | |||||||
Ivy Hill Asset Management, L.P. | 23 | |||||||
Evolent Health LLC and Evolent Health, Inc. | 12 | |||||||
Production Resource Group, L.L.C. | (16) | |||||||
OTG Management, LLC | (22) | |||||||
Other, net | 158 | |||||||
Total | $ | 271 |
(in millions) Portfolio Company | Net Unrealized Appreciation (Depreciation) | |||
The Step2 Company, LLC | $ | 24 | ||
Competitor Group, Inc. | 5 | |||
Ciena Capital LLC | 2 | |||
Ivy Hill Asset Management, L.P. | 2 | |||
UL Holding Co., LLC | 2 | |||
Absolute Dental Management LLC | (2 | ) | ||
Garden Fresh Restaurant Cop. | (2 | ) | ||
Indra Holdings Corp. | (2 | ) | ||
Community Education Centers, Inc. | (3 | ) | ||
FastMed Holdings I, LLC | (3 | ) | ||
CCS Intermediate Holdings, LLC | (7 | ) | ||
10th Street, LLC and New 10th Street, LLC | (7 | ) | ||
ADF Capital, Inc. | (10 | ) | ||
Instituto de Banca y Comercio, Inc. | (17 | ) | ||
Infilaw Holding, LLC | (34 | ) | ||
Other, net | 6 | |||
Total | $ | (46 | ) |
(in millions) Portfolio Company | Net Unrealized Appreciation (Depreciation) | |||||||
Ivy Hill Asset Management, L.P. | $ | 47 | ||||||
Sundance Energy, Inc. | 38 | |||||||
Heelstone Renewable Energy, LLC | 26 | |||||||
OTG Management, LLC | 26 | |||||||
ADG, LLC and RC IV GEDC Investor LLC | 22 | |||||||
Microstar Logistics LLC, Microstar Global Asset Management LLC, MStar Holding Corporation and Kegstar USA Inc. | 14 | |||||||
CoreLogic, Inc. and T-VIII Celestial Co-Invest LP | 13 | |||||||
Instituto de Banca y Comercio, Inc. & Leeds IV Advisors, Inc. | 12 | |||||||
T1 Power Holdings LLC | 12 | |||||||
Athenahealth, Inc., VVC Holding Corp., Virence Intermediate Holding Corp., and Virence Holdings LLC | 12 | |||||||
Cheyenne Petroleum Company Limited Partnership, CPC 2001 LLC and Mill Shoals LLC | 11 | |||||||
North American Science Associates, LLC, Cardinal Purchaser LLC and Cardinal Topco Holdings, L.P. | 11 | |||||||
Reef Lifestyle, LLC | 11 | |||||||
Visual Edge Technology, Inc. | (11) | |||||||
QC Supply, LLC | (16) | |||||||
Other, net | 266 | |||||||
Total | $ | 494 |
(in millions) Portfolio Company | Net Unrealized Appreciation (Depreciation) | |||
Alcami Holdings, LLC | $ | 82 | ||
CCS Intermediate Holdings, LLC | 10 | |||
Ciena Capital LLC | 8 | |||
Miles 33 (Finance) Limited | 7 | |||
UL Holding Co., LL | 6 | |||
PIH Corporation | 6 | |||
Columbo Midco Limited | 6 | |||
Imaging Business Machines, L.L.C. | 5 | |||
Flow Solutions Holdings, Inc. | 4 | |||
Javlin Three LLC | (3 | ) | ||
SHO Holding Corp | (3 | ) | ||
Patterson Medical Supply, Inc. | (3 | ) | ||
NECCO Holdings, Inc. | (4 | ) | ||
Cent CLO 2014-22 | (4 | ) | ||
ECI Purchaser Company, LLC | (4 | ) | ||
Panda Temple Power, LLC | (4 | ) | ||
Panda Liberty LLC (fka Moxie Liberty LLC) | (4 | ) | ||
Eckler Industries, Inc. | (4 | ) | ||
NMSC Holdings, Inc. | (4 | ) | ||
ADG, LLC | (4 | ) | ||
Rug Doctor, LLC | (5 | ) | ||
Green Energy Partners | (5 | ) | ||
Joule Unlimited Technologies, Inc. | (5 | ) | ||
Petroflow Energy Corporation | (5 | ) | ||
Ivy Hill Asset Management, L.P. | (6 | ) | ||
EcoMotors, Inc. | (7 | ) | ||
FastMed Holdings I, LLC | (8 | ) | ||
Singer Sewing Company | (9 | ) | ||
Shock Doctor, Inc. | (9 | ) | ||
Indra Holdings Corp. | (10 | ) | ||
Soil Safe, Inc. | (10 | ) | ||
Infilaw Holding, LLC | (13 | ) | ||
Instituto de Banca y Comercio, Inc. & Leeds IV Advisors, Inc. | (16 | ) | ||
ADF Capital, Inc. | (17 | ) | ||
New Trident Holdcorp, Inc. | (18 | ) | ||
Other, net | (4 | ) | ||
Total | $ | (54 | ) |
(in millions) Portfolio Company | Net Unrealized Appreciation (Depreciation) | |||||||
SVP-Singer Holdings Inc. and SVP-Singer Holdings LP | $ | 107 | ||||||
Teasdale Foods, Inc. and Familia Group Holdings Inc. | 12 | |||||||
Absolute Dental Group LLC and Absolute Dental Equity, LLC | 11 | |||||||
MW Dental Holding Corp. | (11) | |||||||
Cipriani USA, Inc. | (12) | |||||||
FWR Holding Corporation | (12) | |||||||
Alcami Corporation and ACM Holdings I, LLC | (12) | |||||||
Cheyenne Petroleum Company Limited Partnership | (13) | |||||||
Sundance Energy, Inc. | (14) | |||||||
Implus Footcare, LLC | (14) | |||||||
Birch Permian, LLC | (19) | |||||||
Varsity Brands Holding Co., Inc. | (20) | |||||||
Centric Brands Inc. | (21) | |||||||
Penn Virginia Holding Corp. | (23) | |||||||
Garden Fresh Restaurant Corp. | (24) | |||||||
Microstar Logistics LLC | (25) | |||||||
VPROP Operating, LLC and Vista Proppants and Logistics, LLC | (50) | |||||||
Production Resource Group, L.L.C. | (56) | |||||||
OTG Management, LLC | (107) | |||||||
Other, net | (209) | |||||||
Total | $ | (512) |
(in millions) Portfolio Company | Net Unrealized Appreciation (Depreciation) | |||
The Step2 Company, LLC | $ | 39 | ||
UL Holding Co., LLC | 25 | |||
Senior Secured Loan Fund LLC | 12 | |||
Community Education Centers, Inc. | 8 | |||
R3 Education, Inc. | 6 | |||
Spin HoldCo Inc. | 6 | |||
Green Energy Partners | 5 | |||
TA THI Parent, Inc. | 4 | |||
Lonestar Prospects, Ltd. | 4 | |||
Orion Foods, LLC | 3 | |||
Patterson Medical Supply, Inc. | 2 | |||
ADF Capital, Inc. | 2 | |||
Global Healthcare Exchange, LLC | 2 | |||
McKenzie Sports Products, LLC | 2 | |||
CFW Co-Invest, L.P. | 2 | |||
American Seafoods Investors LLC | 2 | |||
Ivy Hill Asset Management, L.P. | (2 | ) | ||
Garden Fresh Restaurant Corp. | (2 | ) | ||
Poplicus Incorporated | (2 | ) | ||
INC Research Mezzanine Co-Invest, LLC | (3 | ) | ||
La Paloma Generating Company, LLC | (3 | ) | ||
Absolute Dental Management LLC and ADM Equity, LLC | (3 | ) | ||
Flow Solutions Holdings, Inc. | (3 | ) | ||
Feradyne Outdoors, LLC | (4 | ) | ||
Things Remembered, Inc. | (6 | ) | ||
10th Street, LLC and New 10th Street, LLC | (7 | ) | ||
FastMed Holdings I, LLC | (8 | ) | ||
Indra Holdings Corp. | (11 | ) | ||
CCS Intermediate Holdings, LLC | (22 | ) | ||
Instituto de Banca y Comercio, Inc. | (41 | ) | ||
Infilaw Holding, LLC | (44 | ) | ||
Other, net | 20 | |||
Total, net | $ | (17 | ) |
(in millions, except per share amount) Issuances of Common Stock | Number of Shares Issued | Gross Proceeds | Underwriting Fees/Offering Expenses | Net Proceeds | Average Offering Price Per Share | |||||||||||||||||||||||||||
Public offerings | 26.5 | $ | 513.8 | $ | 19.0 | $ | 494.8 | $ | 18.71 | (1) | ||||||||||||||||||||||
“At the market” offerings | 9.9 | $ | 195.7 | $ | 3.3 | $ | 192.4 | $ | 19.72 | |||||||||||||||||||||||
Total | 36.4 | $ | 709.5 | $ | 22.3 | $ | 687.2 |
Net Asset Value(1) | Price Range | High Sales Price Premium (Discount) to Net Asset Value(2) | Low Sales Price Premium (Discount) to Net Asset Value(2) | Cash Dividend Per Share(3) | ||||||||||||||||||||||||||||||||||
High | Low | |||||||||||||||||||||||||||||||||||||
Year ended December 31, 2019 | ||||||||||||||||||||||||||||||||||||||
First Quarter | $ | 17.21 | $ | 17.48 | $ | 15.28 | 1.57 | % | (11.21) | % | $0.48 | (4) | ||||||||||||||||||||||||||
Second Quarter | $ | 17.27 | $ | 18.12 | $ | 17.22 | 4.92 | % | (0.29) | % | $0.40 | |||||||||||||||||||||||||||
Third Quarter | $ | 17.26 | $ | 19.19 | $ | 17.99 | 11.18 | % | 4.23 | % | $0.40 | |||||||||||||||||||||||||||
Fourth Quarter | $ | 17.32 | $ | 19.02 | $ | 18.10 | 9.82 | % | 4.50 | % | $0.40 | |||||||||||||||||||||||||||
Year ended December 31, 2020 | ||||||||||||||||||||||||||||||||||||||
First Quarter | $ | 15.58 | $ | 19.23 | $ | 8.08 | 23.43 | % | (48.14) | % | $0.40 | |||||||||||||||||||||||||||
Second Quarter | $ | 15.83 | $ | 16.20 | $ | 9.13 | 2.34 | % | (42.32) | % | $0.40 | |||||||||||||||||||||||||||
Third Quarter | $ | 16.48 | $ | 15.02 | $ | 13.27 | (8.86) | % | (19.48) | % | $0.40 | |||||||||||||||||||||||||||
Fourth Quarter | $ | 16.97 | $ | 17.28 | $ | 13.82 | 1.83 | % | (18.56) | % | $0.40 | |||||||||||||||||||||||||||
Year ending December 31, 2021 | ||||||||||||||||||||||||||||||||||||||
First Quarter | $ | 17.45 | $ | 19.23 | $ | 16.51 | 10.20 | % | (5.39) | % | $0.40 | |||||||||||||||||||||||||||
Second Quarter | $ | 18.16 | $ | 19.97 | $ | 18.29 | 9.97 | % | 0.72 | % | $0.40 | |||||||||||||||||||||||||||
Third Quarter | $ | 18.52 | $ | 20.43 | $ | 19.52 | 10.31 | % | 5.40 | % | $0.41 | |||||||||||||||||||||||||||
Fourth Quarter (through October 22, 2021) | * | $ | 21.26 | $ | 20.63 | * | * | $0.41 |
As of | As of | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2017 | December 31, 2016 | September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | Total Aggregate Principal Amount Available/ Outstanding(1) | Principal Amount | Carrying Value | Total Aggregate Principal Amount Available/ Outstanding(1) | Principal Amount | Carrying Value | (in millions) | Total Aggregate Principal Amount Available/ Outstanding(1) | Principal Amount Outstanding | Carrying Value | Total Aggregate Principal Amount Available/ Outstanding(1) | Principal Amount Outstanding | Carrying Value | |||||||||||||||||||||||||||||||||||||||||||||||||
Revolving Credit Facility | $ | 2,108 | (2) | $ | 395 | $ | 395 | $ | 1,265 | $ | 571 | $ | 571 | Revolving Credit Facility | $ | 4,232 | (2) | $ | 874 | $ | 874 | $ | 3,617 | (2) | $ | 1,180 | $ | 1,180 | ||||||||||||||||||||||||||||||||||
Revolving Funding Facility | 1,000 | 450 | 450 | 540 | 155 | 155 | Revolving Funding Facility | 1,525 | 763 | 763 | 1,525 | 1,028 | 1,028 | |||||||||||||||||||||||||||||||||||||||||||||||||
SMBC Funding Facility | 400 | — | — | 400 | 105 | 105 | SMBC Funding Facility | 800 | (3) | — | — | 725 | (3) | 453 | 453 | |||||||||||||||||||||||||||||||||||||||||||||||
SBA Debentures | 50 | — | — | 75 | 25 | 24 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2017 Convertible Notes | — | — | (3) | 162 | 162 | 162 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
2018 Convertible Notes | 270 | 270 | 269 | (4) | 270 | 270 | 267 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
2019 Convertible Notes | 300 | 300 | 298 | (4) | 300 | 300 | 296 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
BNP Funding Facility | BNP Funding Facility | 300 | — | — | 300 | 150 | 150 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 Convertible Notes | 388 | 388 | 367 | (4) | — | — | — | 2022 Convertible Notes | 388 | 388 | 386 | (4) | 388 | 388 | 383 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||
2018 Notes | 750 | 750 | 747 | (5) | 750 | 750 | 745 | (5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
2020 Notes | 600 | 600 | 597 | (6) | 600 | 600 | 596 | (6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
January 2022 Notes | 600 | 600 | 593 | (7) | 600 | 600 | 592 | (7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
October 2022 Notes | — | — | — | (8) | 183 | 183 | 179 | (9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
2024 Convertible Notes | 2024 Convertible Notes | 403 | 403 | 394 | (4) | 403 | 403 | 392 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 Notes | 2022 Notes | 600 | 600 | 600 | (4) | 600 | 600 | 598 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2023 Notes | 750 | 750 | 742 | (10) | — | — | — | 2023 Notes | 750 | 750 | 748 | (4) | 750 | 750 | 747 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||
2024 Notes | 2024 Notes | 900 | 900 | 897 | (4) | 900 | 900 | 896 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
March 2025 Notes | March 2025 Notes | 600 | 600 | 596 | (4) | 600 | 600 | 595 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
July 2025 Notes | July 2025 Notes | 1,250 | 1,250 | 1,261 | (5) | 750 | 750 | 742 | (5) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
January 2026 Notes | January 2026 Notes | 1,150 | 1,150 | 1,142 | (4) | 1,150 | 1,150 | 1,141 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
July 2026 Notes | July 2026 Notes | 1,000 | 1,000 | 988 | (4) | — | — | — | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2028 Notes | 2028 Notes | 1,250 | 1,250 | 1,246 | (4) | — | — | — | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2047 Notes | 230 | 230 | 182 | (11) | 230 | 230 | 182 | (11) | 2047 Notes | — | — | — | (6) | 230 | 230 | 186 | (6) | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 7,446 | $ | 4,733 | $ | 4,640 | $ | 5,375 | $ | 3,951 | $ | 3,874 | Total | $ | 15,148 | $ | 9,928 | $ | 9,895 | $ | 11,938 | $ | 8,582 | $ | 8,491 |
(5)Represents the aggregate principal amount outstanding, less unamortized debt issuance costs and the net unaccreted premium recorded upon issuance. (6)Represents the aggregate principal amount outstanding of the 2047 Notes, less the unaccreted purchased discount recorded in connection with the Allied Acquisition. See below for more information on the early redemption of the 2047 Notes. |
2018 Convertible Notes | 2019 Convertible Notes | 2022 Convertible Notes | 2022 Convertible Notes | 2024 Convertible Notes | |||||||||||||||||||
Conversion premium | 17.5 | % | 15.0 | % | 15.0 | % | Conversion premium | 15.0 | % | 15.0 | % | ||||||||||||
Closing stock price at issuance | $ | 16.91 | $ | 17.53 | $ | 16.86 | Closing stock price at issuance | $ | 16.86 | $ | 17.29 | ||||||||||||
Closing stock price date | October 3, 2012 | July 15, 2013 | January 23, 2017 | Closing stock price date | January 23, 2017 | March 5, 2019 | |||||||||||||||||
Conversion price(1) | $ | 19.64 | $ | 19.99 | $ | 19.39 | Conversion price(1) | $ | 19.02 | $ | 19.88 | ||||||||||||
Conversion rate (shares per one thousand dollar principal amount)(1) | 50.9054 | 50.0292 | 51.5756 | Conversion rate (shares per one thousand dollar principal amount)(1) | 52.5674 | 50.2930 | |||||||||||||||||
Conversion dates | July 15, 2017 | July 15, 2018 | August 1, 2021 | Conversion dates | August 1, 2021 | December 1, 2023 |
(1) Represents conversion price and conversion rate, as applicable, as of September 30, 2021, taking into account any applicable de minimis adjustments that will be made on the conversion date. 150 |
(dollar amounts in millions) Unsecured Notes | Aggregate Principal Amount Issued | Interest Rate | Original Issuance Date | Maturity Date | |||||||||||||||||||
2022 Notes | $ | 600 | 3.625 | % | September 19, 2016 | January 19, 2022 | |||||||||||||||||
2023 Notes | $ | 750 | 3.500 | % | August 10, 2017 | February 10, 2023 | |||||||||||||||||
2024 Notes | $ | 900 | 4.200 | % | June 10, 2019 | June 10, 2024 | |||||||||||||||||
March 2025 Notes | $ | 600 | 4.250 | % | January 11, 2018 | March 1, 2025 | |||||||||||||||||
July 2025 Notes | $ | 1,250 | 3.250 | % | January 15, 2020 | July 15, 2025 | |||||||||||||||||
January 2026 Notes | $ | 1,150 | 3.875 | % | July 15, 2020 | January 15, 2026 | |||||||||||||||||
July 2026 Notes | $ | 1,000 | 2.150 | % | January 13, 2021 | July 15, 2026 | |||||||||||||||||
2028 Notes | $ | 1,250 | 2.875 | % | June 10, 2021 | June 15, 2028 |
As of | As of | |||||||||||||||||
(in millions) | September 30, 2017 | December 31, 2016 | (in millions) | September 30, 2021 | December 31, 2020 | |||||||||||||
Total revolving and delayed draw loan commitments | $ | 801 | $ | 411 | Total revolving and delayed draw loan commitments | $ | 2,785 | $ | 2,020 | |||||||||
Less: drawn commitments | (176 | ) | (81 | ) | ||||||||||||||
Total undrawn commitments | 625 | 330 | ||||||||||||||||
Less: funded commitments | Less: funded commitments | (302) | (409) | |||||||||||||||
Total unfunded commitments | Total unfunded commitments | 2,483 | 1,611 | |||||||||||||||
Less: commitments substantially at our discretion | (16 | ) | (12 | ) | Less: commitments substantially at our discretion | — | (29) | |||||||||||
Less: unavailable commitments due to borrowing base or other covenant restrictions | — | — | Less: unavailable commitments due to borrowing base or other covenant restrictions | (7) | (8) | |||||||||||||
Total net adjusted undrawn revolving and delayed draw loan commitments | $ | 609 | $ | 318 | ||||||||||||||
Total net adjusted unfunded revolving and delayed draw loan commitments | Total net adjusted unfunded revolving and delayed draw loan commitments | $ | 2,476 | $ | 1,574 |
As of | |||||||||||
(in millions) | September 30, 2021 | December 31, 2020 | |||||||||
Total private equity commitments | $ | 110 | $ | 111 | |||||||
Less: funded private equity commitments | (67) | (68) | |||||||||
Total unfunded private equity commitments | 43 | 43 | |||||||||
Less: private equity commitments substantially our discretion | (43) | (43) | |||||||||
Total net adjusted unfunded private equity commitments | $ | — | $ | — |
As of | |||||||
(in millions) | September 30, 2017 | December 31, 2016 | |||||
Total private equity commitments | $ | 117 | $ | 57 | |||
Less: funded private equity commitments | (67 | ) | (17 | ) | |||
Total unfunded private equity commitments | 50 | 40 | |||||
Less: private equity commitments substantially our discretion | (49 | ) | (39 | ) | |||
Total net adjusted unfunded private equity commitments | $ | 1 | $ | 1 |
(in millions) Basis Point Change | Interest Income | Interest Expense | Net Income(1) | (in millions) Basis Point Change | Interest Income | Interest Expense | Net Income(1) | |||||||||||||||||||||||||
Up 300 basis points | $ | 280 | $ | 25 | $ | 255 | Up 300 basis points | $ | 309 | $ | 49 | $ | 260 | |||||||||||||||||||
Up 200 basis points | $ | 186 | $ | 17 | $ | 169 | Up 200 basis points | $ | 167 | $ | 33 | $ | 134 | |||||||||||||||||||
Up 100 basis points | $ | 92 | $ | 8 | $ | 84 | Up 100 basis points | $ | 29 | $ | 16 | $ | 13 | |||||||||||||||||||
Down 100 basis points | $ | (18 | ) | $ | (8 | ) | $ | (10 | ) | Down 100 basis points | $ | — | $ | (2) | $ | 2 | ||||||||||||||||
Down 200 basis points | $ | (14 | ) | $ | (10 | ) | $ | (4 | ) | Down 200 basis points | $ | — | $ | (2) | $ | 2 | ||||||||||||||||
Down 300 basis points | $ | (14 | ) | $ | (10 | ) | $ | (4 | ) | Down 300 basis points | $ | — | $ | (2) | $ | 2 |
(1)Excludes the impact of income based fees. See Note 3 to our consolidated financial statements for the three and nine months ended September 30, 2021 for more information |
(in millions) Basis Point Change | Interest Income | Interest Expense | Net Income(1) | (in millions) Basis Point Change | Interest Income | Interest Expense | Net Income(1) | |||||||||||||||||||||||||
Up 300 basis points | $ | 205 | $ | 25 | $ | 180 | Up 300 basis points | $ | 291 | $ | 72 | $ | 219 | |||||||||||||||||||
Up 200 basis points | $ | 136 | $ | 17 | $ | 119 | Up 200 basis points | $ | 160 | $ | 48 | $ | 112 | |||||||||||||||||||
Up 100 basis points | $ | 67 | $ | 9 | $ | 58 | Up 100 basis points | $ | 34 | $ | 24 | $ | 10 | |||||||||||||||||||
Down 100 basis points | $ | 9 | $ | (6 | ) | $ | 15 | Down 100 basis points | $ | 4 | $ | (6) | $ | 10 | ||||||||||||||||||
Down 200 basis points | $ | 8 | $ | (6 | ) | $ | 14 | Down 200 basis points | $ | 4 | $ | (6) | $ | 10 | ||||||||||||||||||
Down 300 basis points | $ | 8 | $ | (6 | ) | $ | 14 | Down 300 basis points | $ | 3 | $ | (6) | $ | 9 |
(1)Excludes the impact of income based fees. See Note 3 |
Period | Total Number of Shares Purchased | Average Price Paid Per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Maximum (or Approximate Dollar Value) of Shares that May Yet Be Purchased Under the Plans or Programs | ||||||||||
January 1, 2017 through January 31, 2017 | 236,941 | $ | 16.46 | — | $ | — | ||||||||
February 1, 2017 through February 28, 2017 | — | — | — | — | ||||||||||
March 1, 2017 through March 31, 2017 | — | — | — | — | ||||||||||
April 1, 2017 through April 30, 2017 | — | — | — | — | ||||||||||
May 1, 2017 through May 31, 2017 | — | — | — | — | ||||||||||
June 1, 2017 through June 30, 2017 | — | — | — | — | ||||||||||
July 1, 2017 through July 31, 2017 | 612,744 | 16.53 | — | — | ||||||||||
August 1, 2017 through August 31, 2017 | — | — | — | — | ||||||||||
September 1, 2017 through September 30, 2017 | — | — | — | — | ||||||||||
Total | 849,685 | $ | 16.51 | — | $ | — |
Exhibit Number | Description | |||||||
Articles of Amendment and Restatement, as amended(1) | ||||||||
Certification by Chief Executive Officer pursuant to Exchange Act Rule 13a-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002* | ||||||||
Certification by Chief Financial Officer pursuant to Exchange Act Rule 13a-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002* | ||||||||
Certification by Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002* |
ARES CAPITAL CORPORATION | ||||||||
Date: | By | /s/ R. | ||||||
R. Kipp deVeer Chief Executive Officer | ||||||||
Date: | By | /s/ | ||||||
Penni F. Roll Chief Financial Officer | ||||||||
Date: October 26, 2021 | By | /s/ SCOTT C. LEM | ||||||
Scott C. Lem Chief Accounting Officer, Vice President and Treasurer |