0001422183us-gaap-supplement:InvestmentAffiliatedIssuerControlledMember Roemanu LLC (FKA Toorak Capital Partners LLC), Private Equity, Asset Based Finance 2021-12-310001422183 Production Resource Group LLC -2us-gaap-supplement:InvestmentAffiliatedIssuerControlledMember2021-12-310001422183srt:WeightedAverageMemberus-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Memberfsk:AssetBasedFinanceMemberus-gaap:MeasurementInputDiscountRateMember2022-09-30
x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
¨ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Maryland | 26-1630040 | |||||||
(State of Incorporation) | (I.R.S. Employer Identification Number) | |||||||
201 Rouse Boulevard Philadelphia, Pennsylvania | 19112 | |||||||
(Address of principal executive offices) | (Zip Code) |
Large accelerated filer | x | Accelerated filer | ||||||||||||
Non-accelerated filer | ¨ | Smaller reporting company | ||||||||||||
Emerging growth company |
Securities registered pursuant to Section 12(b) of the Act.
Securities registered pursuant to Section 12(b) of the Act. | ||||||||||||||
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Common stock, par value $0.001 | FSK | New York Stock Exchange |
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Page | |||||||||||
PART I—FINANCIAL INFORMATION | |||||||||||
ITEM 1. | FINANCIAL STATEMENTS | ||||||||||
ITEM 2. | |||||||||||
ITEM 3. | |||||||||||
ITEM 4. | |||||||||||
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PART II—OTHER INFORMATION | |||||||||||
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ITEM 1. | |||||||||||
ITEM 1A. | |||||||||||
ITEM 2. | |||||||||||
ITEM 3. | |||||||||||
ITEM 4. | |||||||||||
ITEM 5. | |||||||||||
ITEM 6. | |||||||||||
SIGNATURES | |||||||||||
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March 31, 2022 (Unaudited) | December 31, 2021 | |||||||
Assets | ||||||||
Investments, at fair value | ||||||||
Non-controlled/unaffiliated investments (amortized cost—$12,374 and $12,419, respectively) | $ | 12,473 | $ | 12,558 | ||||
Non-controlled/affiliated investments (amortized cost—$1,048 and $860, respectively) | 1,077 | 859 | ||||||
Controlled/affiliated investments (amortized cost—$3,061 and $2,778, respectively) | 3,004 | 2,684 | ||||||
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Total investments, at fair value (amortized cost—$16,483 and $16,057, respectively) | 16,554 | 16,101 | ||||||
Cash | 362 | 258 | ||||||
Foreign currency, at fair value (cost—$7 and $119, respectively) | 7 | 119 | ||||||
Receivable for investments sold and repaid | 856 | 567 | ||||||
Income receivable | 176 | 153 | ||||||
Unrealized appreciation on foreign currency forward contracts | 10 | 9 | ||||||
Deferred financing costs | 15 | 16 | ||||||
Prepaid expenses and other assets | 5 | 5 | ||||||
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Total assets | $ | 17,985 | $ | 17,228 | ||||
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Liabilities | ||||||||
Payable for investments purchased | $ | 33 | $ | 2 | ||||
Debt (net of deferred financing costs of $42 and $38, respectively)(1) | 9,835 | 9,142 | ||||||
Unrealized depreciation on foreign currency forward contracts | 1 | 1 | ||||||
Stockholder distributions payable | 179 | 176 | ||||||
Management fees payable | 62 | 60 | ||||||
Subordinated income incentive fees payable(2) | 25 | 19 | ||||||
Administrative services expense payable | 7 | 5 | ||||||
Interest payable | 66 | 70 | ||||||
Other accrued expenses and liabilities | 10 | 23 | ||||||
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Total liabilities | 10,218 | 9,498 | ||||||
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Commitments and contingencies(3) | ||||||||
Stockholders’ equity | ||||||||
Preferred stock, $0.001 par value, 50,000,000 shares authorized, none issued and outstanding | — | — | ||||||
Common stock, $0.001 par value, 750,000,000 shares authorized, 284,138,163 and 284,543,091 shares issued and outstanding, respectively | 0 | 0 | ||||||
Capital in excess of par value | 9,649 | 9,658 | ||||||
Retained earnings (accumulated deficit)(4) | (1,882 | ) | (1,928 | ) | ||||
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Total stockholders’ equity | 7,767 | 7,730 | ||||||
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Total liabilities and stockholders’ equity | $ | 17,985 | $ | 17,228 | ||||
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Net asset value per share of common stock at period end | $ | 27.33 | $ | 27.17 |
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September 30, 2022 | December 31, 2021 | |||||||||||||
(Unaudited) | ||||||||||||||
Assets | ||||||||||||||
Investments, at fair value | ||||||||||||||
Non-controlled/unaffiliated investments (amortized cost—$12,988 and $12,419, respectively) | $ | 12,552 | $ | 12,558 | ||||||||||
Non-controlled/affiliated investments (amortized cost—$579 and $860, respectively) | 439 | 859 | ||||||||||||
Controlled/affiliated investments (amortized cost—$3,111 and $2,778, respectively) | 2,801 | 2,684 | ||||||||||||
Total investments, at fair value (amortized cost—$16,678 and $16,057, respectively) | $ | 15,792 | $ | 16,101 | ||||||||||
Cash | 264 | 258 | ||||||||||||
Foreign currency, at fair value (cost—$2 and $119, respectively) | 2 | 119 | ||||||||||||
Receivable for investments sold and repaid | 425 | 567 | ||||||||||||
Income receivable | 165 | 153 | ||||||||||||
Unrealized appreciation on foreign currency forward contracts | 39 | 9 | ||||||||||||
Deferred financing costs | 22 | 16 | ||||||||||||
Prepaid expenses and other assets | 7 | 5 | ||||||||||||
Total assets | $ | 16,716 | $ | 17,228 | ||||||||||
Liabilities | ||||||||||||||
Payable for investments purchased | $ | 57 | $ | 2 | ||||||||||
Debt (net of deferred financing costs of $36 and $38, respectively)(1) | 9,137 | 9,142 | ||||||||||||
Unrealized depreciation on foreign currency forward contracts | — | 1 | ||||||||||||
Stockholder distributions payable | 190 | 176 | ||||||||||||
Management fees payable | 61 | 60 | ||||||||||||
Subordinated income incentive fees payable(2) | 25 | 19 | ||||||||||||
Administrative services expense payable | 7 | 5 | ||||||||||||
Interest payable | 67 | 70 | ||||||||||||
Other accrued expenses and liabilities | 12 | 23 | ||||||||||||
Total liabilities | $ | 9,556 | $ | 9,498 | ||||||||||
Commitments and contingencies(3) | ||||||||||||||
Stockholders' equity | ||||||||||||||
Preferred stock, $0.001 par value, 50,000,000 shares authorized, none issued and outstanding | $ | — | $ | — | ||||||||||
Common stock, $0.001 par value, 750,000,000 shares authorized, 282,978,008 and 284,543,091 shares issued and outstanding, respectively | — | — | ||||||||||||
Capital in excess of par value | 9,625 | 9,658 | ||||||||||||
Retained earnings (accumulated deficit)(4) | (2,465) | (1,928) | ||||||||||||
Total stockholders' equity | $ | 7,160 | $ | 7,730 | ||||||||||
Total liabilities and stockholders' equity | $ | 16,716 | $ | 17,228 | ||||||||||
Net asset value per share of common stock at period end | $ | 25.30 | $ | 27.17 |
1
Three Months Ended March 31, | ||||||||
2022 | 2021 | |||||||
Investment income | ||||||||
Interest income | $ | 241 | $ | 87 | ||||
Paid-in-kind interest income | 18 | 10 | ||||||
Fee income | 27 | 11 | ||||||
Dividend and other income | 8 | 4 | ||||||
From non-controlled/affiliated investments: | ||||||||
Interest income | 10 | 3 | ||||||
Paid-in-kind interest income | 11 | 6 | ||||||
Fee income | 2 | — | ||||||
Dividend and other income | 5 | 0 | ||||||
From controlled/affiliated investments: | ||||||||
Interest income | 10 | 2 | ||||||
Paid-in-kind interest income | 14 | 1 | ||||||
Fee income | 0 | — | ||||||
Dividend and other income | 50 | 27 | ||||||
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Total investment income | 396 | 151 | ||||||
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Operating expenses | ||||||||
Management fees | 62 | 25 | ||||||
Subordinated income incentive fees(1) | 40 | — | ||||||
Administrative services expenses | 4 | 2 | ||||||
Accounting and administrative fees | 1 | 1 | ||||||
Interest expense(2) | 77 | 42 | ||||||
Other general and administrative expenses | 7 | 3 | ||||||
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Total operating expenses | 191 | 73 | ||||||
Incentive fee waiver(1) | (15 | ) | — | |||||
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Net expenses | 176 | 73 | ||||||
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Net investment income | 220 | 78 | ||||||
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Realized and unrealized gain/loss | ||||||||
Net realized gain (loss) on investments: | ||||||||
Non-controlled/unaffiliated investments | (26 | ) | (83 | ) | ||||
Non-controlled/affiliated investments | (6 | ) | — | |||||
Controlled/affiliated investments | — | (43 | ) | |||||
Net realized gain (loss) on foreign currency forward contracts | 5 | — | ||||||
Net realized gain (loss) on foreign currency | 1 | (2 | ) | |||||
Net change in unrealized appreciation (depreciation) on investments: | ||||||||
Non-controlled/unaffiliated investments | (40 | ) | 109 | |||||
Non-controlled/affiliated investments | 30 | 27 | ||||||
Controlled/affiliated investments | 37 | 106 | ||||||
Net change in unrealized appreciation (depreciation) on foreign currency forward contracts | 1 | 1 | ||||||
Net change in unrealized gain (loss) on foreign currency | 3 | 6 | ||||||
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Total net realized and unrealized gain (loss) | $ | 5 | $ | 121 | ||||
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Net increase (decrease) in net assets resulting from operations | $ | 225 | $ | 199 | ||||
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Per share information—basic and diluted | ||||||||
Net increase (decrease) in net assets resulting from operations (Earnings (Losses) per Share) | $ | 0.79 | $ | 1.61 | ||||
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Weighted average shares outstanding | 284,323,542 | 123,755,965 | ||||||
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Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||||||||
Investment income | ||||||||||||||||||||||||||||||||
From non-controlled/unaffiliated investments: | ||||||||||||||||||||||||||||||||
Interest income | $ | 255 | $ | 219 | $ | 725 | $ | 414 | ||||||||||||||||||||||||
Paid-in-kind interest income | 18 | 16 | 51 | 35 | ||||||||||||||||||||||||||||
Fee income | 23 | 29 | 63 | 62 | ||||||||||||||||||||||||||||
Dividend and other income | 9 | 8 | 34 | 20 | ||||||||||||||||||||||||||||
From non-controlled/affiliated investments: | ||||||||||||||||||||||||||||||||
Interest income | 8 | 8 | 25 | 12 | ||||||||||||||||||||||||||||
Paid-in-kind interest income | 12 | 4 | 37 | 12 | ||||||||||||||||||||||||||||
Fee income | 3 | 2 | 5 | 2 | ||||||||||||||||||||||||||||
Dividend and other income | — | 0 | 7 | 0 | ||||||||||||||||||||||||||||
From controlled/affiliated investments: | ||||||||||||||||||||||||||||||||
Interest income | 16 | 12 | 37 | 16 | ||||||||||||||||||||||||||||
Paid-in-kind interest income | 9 | 15 | 34 | 23 | ||||||||||||||||||||||||||||
Fee income | — | 0 | — | 1 | ||||||||||||||||||||||||||||
Dividend and other income | 58 | 47 | 168 | 120 | ||||||||||||||||||||||||||||
Total investment income | 411 | 360 | 1,186 | 717 | ||||||||||||||||||||||||||||
Operating expenses | ||||||||||||||||||||||||||||||||
Management fees | 61 | 58 | 186 | 113 | ||||||||||||||||||||||||||||
Subordinated income incentive fees(1) | 40 | 35 | 117 | 43 | ||||||||||||||||||||||||||||
Administrative services expenses | 4 | 5 | 12 | 9 | ||||||||||||||||||||||||||||
Accounting and administrative fees | 2 | 1 | 4 | 2 | ||||||||||||||||||||||||||||
Interest expense(2) | 96 | 70 | 256 | 158 | ||||||||||||||||||||||||||||
Other general and administrative expenses | 6 | 5 | 16 | 12 | ||||||||||||||||||||||||||||
Total operating expenses | 209 | 174 | 591 | 337 | ||||||||||||||||||||||||||||
Incentive fee waiver(1) | (15) | (15) | (45) | (15) | ||||||||||||||||||||||||||||
Net expenses | 194 | 159 | 546 | 322 | ||||||||||||||||||||||||||||
Net investment income before taxes | 217 | 201 | 640 | 395 | ||||||||||||||||||||||||||||
Excise taxes | 1 | — | 1 | — | ||||||||||||||||||||||||||||
Net investment income | 216 | 201 | 639 | 395 | ||||||||||||||||||||||||||||
Realized and unrealized gain/loss | ||||||||||||||||||||||||||||||||
Net realized gain (loss) on investments: | ||||||||||||||||||||||||||||||||
Non-controlled/unaffiliated investments | 16 | 60 | 167 | (22) | ||||||||||||||||||||||||||||
Non-controlled/affiliated investments | 51 | 139 | 90 | 203 | ||||||||||||||||||||||||||||
Controlled/affiliated investments | (4) | (2) | (43) | (58) | ||||||||||||||||||||||||||||
Net realized gain (loss) on foreign currency forward contracts | 2 | 0 | 9 | 0 | ||||||||||||||||||||||||||||
Net realized gain (loss) on foreign currency | 5 | (1) | 12 | (4) | ||||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments: | ||||||||||||||||||||||||||||||||
Non-controlled/unaffiliated investments | (283) | (49) | (574) | 526 | ||||||||||||||||||||||||||||
Non-controlled/affiliated investments | (99) | (104) | (140) | 65 |
2
(in millions)
Three Months Ended March 31, | ||||||||
2022 | 2021 | |||||||
Operations | ||||||||
Net investment income (loss) | $ | 220 | $ | 78 | ||||
Net realized gain (loss) on investments, foreign currency forward contracts and foreign currency | (26 | ) | (128 | ) | ||||
Net change in unrealized appreciation (depreciation) on investments and foreign currency forward contracts(1) | 28 | 243 | ||||||
Net change in unrealized gain (loss) on foreign currency | 3 | 6 | ||||||
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Net increase (decrease) in net assets resulting from operations | 225 | 199 | ||||||
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Stockholder distributions(2) | ||||||||
Distributions to stockholders | (179 | ) | (74 | ) | ||||
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Net decrease in net assets resulting from stockholder distributions | (179 | ) | (74 | ) | ||||
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Capital share transactions(3) | ||||||||
Repurchases of common stock | (9 | ) | — | |||||
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Net increase (decrease) in net assets resulting from capital share transactions | (9 | ) | — | |||||
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Total increase (decrease) in net assets | 37 | 125 | ||||||
Net assets at beginning of period | 7,730 | 3,096 | ||||||
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Net assets at end of period | $ | 7,767 | $ | 3,221 | ||||
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See notes to unaudited consolidated financial statements.
Unaudited Consolidated Statements of Cash Flows
(in millions)
Three Months Ended March 31, | ||||||||
2022 | 2021 | |||||||
Cash flows from operating activities | ||||||||
Net increase (decrease) in net assets resulting from operations | $ | 225 | $ | 199 | ||||
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities: | ||||||||
Purchases of investments | (2,068 | ) | (417 | ) | ||||
Paid-in-kind interest | (34 | ) | (15 | ) | ||||
Proceeds from sales and repayments of investments | 1,673 | 877 | ||||||
Net realized (gain) loss on investments | 32 | 126 | ||||||
Net change in unrealized (appreciation) depreciation on investments | (27 | ) | (242 | ) | ||||
Net change in unrealized (appreciation) depreciation on foreign currency forward contracts | (1 | ) | (1 | ) | ||||
Accretion of discount | (29 | ) | (6 | ) | ||||
Amortization of deferred financing costs and discount | 3 | 3 | ||||||
Unrealized (gain)/loss on borrowings in foreign currency | (6 | ) | (6 | ) | ||||
(Increase) decrease in receivable for investments sold and repaid | (289 | ) | (90 | ) | ||||
(Increase) decrease in income receivable | (23 | ) | — | |||||
(Increase) decrease in deferred merger costs | — | (1 | ) | |||||
(Increase) decrease in prepaid expenses and other assets | — | (2 | ) | |||||
Increase (decrease) in payable for investments purchased | 31 | — | ||||||
Increase (decrease) in management fees payable | 2 | — | ||||||
Increase (decrease) in subordinated income incentive fees payable | 6 | — | ||||||
Increase (decrease) in administrative services expense payable | 2 | 1 | ||||||
Increase (decrease) in interest payable | (4 | ) | 16 | |||||
Increase (decrease) in other accrued expenses and liabilities | (13 | ) | (7 | ) | ||||
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Net cash provided by (used in) operating activities | (520 | ) | 435 | |||||
Cash flows from financing activities | ||||||||
Repurchases of common stock | (9 | ) | — | |||||
Stockholder distributions | (176 | ) | (74 | ) | ||||
Borrowings under financing arrangements(1) | 1,613 | 245 | ||||||
Repayments of financing arrangements(1) | (907 | ) | (648 | ) | ||||
Deferred financing costs paid | (9 | ) | — | |||||
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Net cash provided by (used in) financing activities | 512 | (477 | ) | |||||
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Total increase (decrease) in cash | (8 | ) | (42 | ) | ||||
Cash, and foreign currency at beginning of period | 377 | 191 | ||||||
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Cash, and foreign currency at end of period | $ | 369 | $ | 149 | ||||
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Supplemental disclosure | ||||||||
Non-cash purchases of investments | $ | (242 | ) | $ | (32 | ) | ||
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Non-cash sales of investments | $ | 242 | $ | 32 | ||||
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Local and excise taxes paid | $ | 11 | $ | 10 | ||||
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See notes to unaudited consolidated financial statements.
Unaudited Consolidated Schedule of Investments
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||
Senior Secured Loans—First Lien—127.8% | ||||||||||||||||||||||||||
3Pillar Global Inc | (i)(k)(l) | Software & Services | L+575 | 0.8 | % | 11/23/27 | $ | 96.0 | $ | 95.1 | $ | 94.9 | ||||||||||||||
3Pillar Global Inc | (x) | Software & Services | L+600 | 0.8 | % | 11/23/26 | 9.2 | 9.2 | 9.1 | |||||||||||||||||
3Pillar Global Inc | (x) | Software & Services | L+600 | 0.8 | % | 11/23/27 | 30.6 | 30.6 | 30.2 | |||||||||||||||||
48Forty Solutions LLC | (v) | Commercial & Professional Services | SF+575 | 1.0 | % | 11/30/26 | 4.2 | 4.2 | 4.2 | |||||||||||||||||
48Forty Solutions LLC | (f)(k)(l)(t)(v) | Commercial & Professional Services | SF+575 | 1.0 | % | 11/30/26 | 183.6 | 181.8 | 181.8 | |||||||||||||||||
48Forty Solutions LLC | (x) | Commercial & Professional Services | SF+575 | 1.0 | % | 11/30/26 | 6.4 | 6.4 | 6.3 | |||||||||||||||||
5 Arch Income Fund 2 LLC | (q)(r)(w)(y)(z) | Diversified Financials | 9.0% | 11/18/23 | 108.1 | 79.2 | 75.6 | |||||||||||||||||||
Accuride Corp | (aa)(l) | Capital Goods | L+525 | 1.0 | % | 11/17/23 | 9.0 | 8.2 | 8.5 | |||||||||||||||||
Advanced Dermatology & Cosmetic Surgery | (m)(t)(v) | Health Care Equipment & Services | L+625 | 1.0 | % | 5/7/27 | 46.4 | 44.6 | 46.5 | |||||||||||||||||
Advanced Dermatology & Cosmetic Surgery | (x) | Health Care Equipment & Services | L+625 | 1.0 | % | 5/7/26 | 3.6 | 3.6 | 3.6 | |||||||||||||||||
Advanced Dermatology & Cosmetic Surgery | (x) | Health Care Equipment & Services | L+625 | 1.0 | % | 5/7/27 | 2.5 | 2.5 | 2.5 | |||||||||||||||||
Advania Sverige AB | (v)(w) | Software & Services | SR+610, 0.0% PIK (3.3% Max PIK) | 0.0 | % | 4/28/28 | SEK | 629.4 | 68.0 | 66.3 | ||||||||||||||||
Advania Sverige AB | (v)(w) | Software & Services | R+610, 0.0% PIK (3.3% Max PIK) | 0.0 | % | 4/28/28 | ISK | 1,345.8 | 10.0 | 10.4 | ||||||||||||||||
Advania Sverige AB | (w)(x) | Software & Services | SR+610, 0.0% PIK (3.3% Max PIK) | 0.0 | % | 4/28/28 | SEK | 304.1 | 37.5 | 37.1 | ||||||||||||||||
Affordable Care Inc | (ac)(m)(v) | Health Care Equipment & Services | L+550, 0.0% PIK (1.3% Max PIK) | 0.8 | % | 8/2/28 | $ | 39.3 | 38.9 | 39.0 | ||||||||||||||||
Affordable Care Inc | (ac)(x) | Health Care Equipment & Services | L+550, 0.0% PIK (1.3% Max PIK) | 0.8 | % | 8/2/27 | 12.8 | 12.8 | 12.8 | |||||||||||||||||
Affordable Care Inc | (ac)(x) | Health Care Equipment & Services | L+550, 0.0% PIK (1.3% Max PIK) | 0.8 | % | 8/2/28 | 43.1 | 43.1 | 42.9 | |||||||||||||||||
Alacrity Solutions Group LLC | (v) | Insurance | L+525 | 0.8 | % | 12/22/27 | 0.7 | 0.5 | 0.7 | |||||||||||||||||
Alacrity Solutions Group LLC | (v) | Insurance | L+525 | 0.8 | % | 12/22/28 | 48.5 | 47.8 | 47.6 | |||||||||||||||||
Alacrity Solutions Group LLC | (x) | Insurance | L+525 | 0.8 | % | 12/22/27 | 10.1 | 10.1 | 9.9 | |||||||||||||||||
Alera Group Intermediate Holdings Inc | (v) | Insurance | L+550 | 0.8 | % | 10/2/28 | 8.9 | 8.9 | 8.8 | |||||||||||||||||
Alera Group Intermediate Holdings Inc | (x) | Insurance | L+550 | 0.8 | % | 10/2/28 | 22.9 | 22.9 | 22.6 | |||||||||||||||||
American Vision Partners | (i)(v) | Health Care Equipment & Services | L+575 | 0.8 | % | 9/30/27 | 74.8 | 74.1 | 74.1 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||
American Vision Partners | (x) | Health Care Equipment & Services | L+575 | 0.8 | % | 9/30/26 | $ | 7.8 | $ | 7.8 | $ | 7.7 | ||||||||||||||||
American Vision Partners | (x) | Health Care Equipment & Services | L+575 | 0.8 | % | 9/30/27 | 38.9 | 38.9 | 38.6 | |||||||||||||||||||
Amerivet Partners Management Inc | (v) | Health Care Equipment & Services | SF+550 | 0.8 | % | 2/25/28 | 96.1 | 95.2 | 94.2 | |||||||||||||||||||
Amerivet Partners Management Inc | (x) | Health Care Equipment & Services | SF+550 | 0.8 | % | 2/25/28 | 8.4 | 8.4 | 8.2 | |||||||||||||||||||
Amerivet Partners Management Inc | (x) | Health Care Equipment & Services | SF+550 | 0.8 | % | 2/25/28 | 67.3 | 67.3 | 66.0 | |||||||||||||||||||
Amtek Global Technology Pte Ltd | (ad)(v)(w)(y)(z) | Automobiles & Components | E+500 PIK (E+500 Max PIK) | 0.0 | % | 4/4/24 | € | 57.9 | 68.7 | 30.0 | ||||||||||||||||||
Arcfield Acquisition Corp | (i)(v) | Capital Goods | L+575 | 0.8% | 3/10/28 | $ | 40.6 | 40.2 | 40.2 | |||||||||||||||||||
Arcfield Acquisition Corp | (x) | Capital Goods | L+575 | 0.8% | 3/10/27 | 7.1 | 7.1 | 7.1 | ||||||||||||||||||||
Arcos LLC/VA | (m) | Software & Services | L+575 | 1.0% | 3/31/28 | 12.4 | 12.2 | 12.2 | ||||||||||||||||||||
Arcos LLC/VA | (x) | Software & Services | L+575 | 1.0% | 4/20/27 | 4.5 | 4.5 | 4.4 | ||||||||||||||||||||
Ardonagh Group Ltd | (v)(w) | Insurance | SA+700 | 0.8% | 7/14/26 | £ | 0.8 | 1.0 | 1.0 | |||||||||||||||||||
Ardonagh Group Ltd | (w)(x) | Insurance | L+575 | 1.0% | 7/14/26 | 16.7 | 22.8 | 22.0 | ||||||||||||||||||||
Arrotex Australia Group Pty Ltd | (v)(w) | Pharmaceuticals, Biotechnology & Life Sciences | B+525 | 1.0% | 7/10/24 | A$ | 42.60 | 30.6 | 31.9 | |||||||||||||||||||
Arrotex Australia Group Pty Ltd | (v)(w) | Pharmaceuticals, Biotechnology & Life Sciences | B+525 | 1.0% | 7/10/24 | 3.1 | 2.2 | 2.3 | ||||||||||||||||||||
Aspect Software Inc | (v) | Software & Services | 8.0% PIK (8.0% Max PIK) | 7/14/22 | $ | 0.3 | 0.2 | 0.3 | ||||||||||||||||||||
athenahealth Inc | (ac)(aa)(v) | Health Care Equipment & Services | SF+350 | 0.5% | 2/15/29 | 6.9 | 6.8 | 6.8 | ||||||||||||||||||||
athenahealth Inc | (ac)(aa)(x) | Health Care Equipment & Services | SF+350 | 0.5% | 2/15/29 | 1.2 | 1.2 | 1.2 | ||||||||||||||||||||
ATX Networks Corp | (ad)(s)(v)(w) | Capital Goods | L+750 PIK (L+750 Max PIK) | 1.0% | 9/1/26 | 46.6 | 46.6 | 46.6 | ||||||||||||||||||||
AxiomSL Ltd | (f)(m)(t)(v) | Software & Services | L+600 | 1.0% | 12/3/27 | 35.0 | 34.3 | 34.3 | ||||||||||||||||||||
AxiomSL Ltd | (x) | Software & Services | L+600 | 1.0% | 12/3/25 | 2.5 | 2.4 | 2.4 | ||||||||||||||||||||
AxiomSL Ltd | (x) | Software & Services | L+600 | 1.0% | 12/3/27 | 2.3 | 2.3 | 2.2 | ||||||||||||||||||||
Barbri Inc | (f)(k)(l)(m)(t)(v) | Consumer Services | L+575 | 0.8% | 4/28/28 | 92.1 | 88.0 | 91.7 | ||||||||||||||||||||
Barbri Inc | (k)(l) | Consumer Services | L+575 | 0.8% | 4/30/28 | 35.0 | 34.7 | 34.9 | ||||||||||||||||||||
Barbri Inc | (x) | Consumer Services | L+575 | 0.8% | 4/30/28 | 14.8 | 14.8 | 14.7 | ||||||||||||||||||||
Belk Inc | (aa)(ac)(v) | Retailing | L+750 | 1.0% | 7/31/25 | 21.9 | 21.8 | 21.8 | ||||||||||||||||||||
Belk Inc | (aa)(ac)(v) | Retailing | 5.0%, 8.0% PIK (8.0% Max PIK) | 7/31/25 | 67.8 | 41.2 | 44.3 | |||||||||||||||||||||
BGB Group LLC | (f)(i)(k)(l)(m)(t) | Media & Entertainment | L+575 | 1.0% | 8/16/27 | 111.9 | 110.9 | 110.5 | ||||||||||||||||||||
BGB Group LLC | (x) | Media & Entertainment | L+575 | 1.0% | 8/16/27 | 19.9 | 19.9 | 19.7 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||
Bowery Farming Inc | (v) | Food, Beverage & Tobacco | L+1,000 | 1.0% | 4/30/26 | $ | 75.0 | $ | 74.3 | $ | 69.7 | |||||||||||||||
Caldic BV | (aa)(ab)(v)(w) | Retailing | SF+400 | 0.5% | 2/4/29 | 1.4 | 1.4 | 1.4 | ||||||||||||||||||
Caldic BV | (aa)(v)(w) | Retailing | E+400 | 0.0% | 2/4/29 | € | 0.8 | 0.9 | 0.9 | |||||||||||||||||
Cimarron Energy Inc | (v)(y)(z) | Energy | L+900 | 1.0% | 12/31/24 | $ | 7.5 | 5.4 | 4.3 | |||||||||||||||||
Clarience Technologies LLC | (v) | Capital Goods | L+625 | 1.0% | 12/13/24 | 2.2 | 2.0 | 2.2 | ||||||||||||||||||
Clarience Technologies LLC | (f)(i)(k)(m)(s)(v) | Capital Goods | L+625 | 1.0% | 12/14/26 | 267.3 | 257.0 | 269.9 | ||||||||||||||||||
Clarience Technologies LLC | (v) | Capital Goods | L+625 | 1.0% | 12/31/26 | 18.1 | 17.6 | 18.2 | ||||||||||||||||||
Clarience Technologies LLC | (x) | Capital Goods | L+625 | 1.0% | 12/13/24 | 23.3 | 23.3 | 23.3 | ||||||||||||||||||
Clarience Technologies LLC | (x) | Capital Goods | L+625 | 1.0% | 12/31/26 | 10.8 | 10.8 | 10.9 | ||||||||||||||||||
Community Brands Inc | (v) | Software & Services | SF+575 | 0.8% | 2/23/28 | 33.0 | 32.3 | 32.3 | ||||||||||||||||||
Community Brands Inc | (x) | Software & Services | SF+575 | 0.8% | 2/23/28 | 3.9 | 3.8 | 3.8 | ||||||||||||||||||
Community Brands Inc | (x) | Software & Services | SF+575 | 0.8% | 2/23/28 | 1.9 | 1.9 | 1.9 | ||||||||||||||||||
Constellis Holdings LLC | (ac)(v) | Capital Goods | L+750 | 1.0% | 3/27/24 | 15.0 | 14.1 | 15.0 | ||||||||||||||||||
Corsearch Intermediate Inc | (m)(v) | Software & Services | L+550 | 1.0% | 4/19/28 | 30.1 | 28.4 | 30.0 | ||||||||||||||||||
Corsearch Intermediate Inc | (x) | Software & Services | L+550 | 1.0% | 4/19/28 | 4.4 | 4.4 | 4.4 | ||||||||||||||||||
CSafe Global | (f)(i)(k)(l)(m)(t)(v) | Capital Goods | L+625 | 0.8% | 12/23/27 | 188.3 | 182.3 | 188.5 | ||||||||||||||||||
CSafe Global | (v) | Capital Goods | L+625 | 0.8% | 12/23/27 | £ | 27.4 | 36.2 | 36.0 | |||||||||||||||||
CSafe Global | (v) | Capital Goods | L+625 | 0.8% | 8/13/28 | $ | 11.9 | 11.9 | 11.9 | |||||||||||||||||
CSafe Global | (x) | Capital Goods | L+625 | 0.8% | 12/23/26 | 34.9 | 34.9 | 34.7 | ||||||||||||||||||
Dental Care Alliance Inc | (f)(k)(m)(t)(v) | Health Care Equipment & Services | SF+600 | 0.8% | 4/3/28 | 125.9 | 121.8 | 125.2 | ||||||||||||||||||
Dental Care Alliance Inc | (x) | Health Care Equipment & Services | SF+600 | 0.8% | 4/3/28 | 12.3 | 12.3 | 12.2 | ||||||||||||||||||
Element Materials Technology Group US Holdings Inc | (aa)(v)(w) | Commercial & Professional Services | L+350 | 1.0% | 6/28/24 | 1.9 | 1.9 | 1.9 | ||||||||||||||||||
Encora Digital Inc | (v) | Software & Services | L+550, 0.0% PIK (2.4% Max PIK) | 0.5% | 12/13/28 | 65.1 | 63.8 | 63.6 | ||||||||||||||||||
Encora Digital Inc | (x) | Software & Services | L+550 | 0.5% | 12/13/28 | 19.6 | 19.4 | 19.2 | ||||||||||||||||||
Entertainment Benefits Group LLC | (v) | Media & Entertainment | L+575 | 1.0% | 9/30/24 | 0.4 | 0.4 | 0.4 | ||||||||||||||||||
Entertainment Benefits Group LLC | (f)(k)(l)(m)(v) | Media & Entertainment | L+575 | 1.0% | 9/30/25 | 64.1 | 59.3 | 64.1 | ||||||||||||||||||
Entertainment Benefits Group LLC | (x) | Media & Entertainment | L+575 | 1.0% | 9/30/24 | 10.2 | 9.6 | 10.2 | ||||||||||||||||||
Fairway Group Holdings Corp | (ac)(v)(y)(z) | Food & Staples Retailing | 12.0% PIK (12.0% Max PIK) | 11/27/23 | 11.7 | 1.0 | — | |||||||||||||||||||
Fairway Group Holdings Corp | (ac)(v)(y)(z) | Food & Staples Retailing | 10.0% PIK (10.0% Max PIK) | 11/28/23 | 7.6 | — | — |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||
Follett Software Co | (f)(k)(l)(t) | Software & Services | L+575 | 0.8% | 8/31/28 | $ | 74.2 | $ | 73.5 | $ | 73.6 | |||||||||||||||
Follett Software Co | (x) | Software & Services | L+575 | 0.8% | 8/31/27 | 9.9 | 9.9 | 9.8 | ||||||||||||||||||
Foundation Consumer Brands LLC | (m)(v) | Pharmaceuticals, Biotechnology & Life Sciences | L+550 | 1.0% | 2/12/27 | 97.1 | 93.2 | 98.0 | ||||||||||||||||||
Foundation Consumer Brands LLC | (x) | Pharmaceuticals, Biotechnology & Life Sciences | L+550 | 1.0% | 2/12/27 | 6.6 | 6.6 | 6.6 | ||||||||||||||||||
Foundation Risk Partners Corp | (v) | Insurance | L+575 | 0.8% | 10/29/28 | 77.9 | 76.8 | 76.8 | ||||||||||||||||||
Foundation Risk Partners Corp | (x) | Insurance | L+575 | 0.8% | 10/29/27 | 7.0 | 6.9 | 6.9 | ||||||||||||||||||
Foundation Risk Partners Corp | (x) | Insurance | L+575 | 0.8% | 10/29/28 | 2.6 | 2.6 | 2.5 | ||||||||||||||||||
Frontline Technologies Group LLC | (i)(m)(v) | Software & Services | L+525 | 1.0% | 9/18/23 | 23.1 | 23.0 | 23.1 | ||||||||||||||||||
Frontline Technologies Group LLC | (s)(v) | Software & Services | L+525 | 1.0% | 9/18/23 | 38.0 | 36.1 | 38.1 | ||||||||||||||||||
Galaxy Universal LLC | (v) | Consumer Durables & Apparel | S+575 | 1.0% | 11/12/26 | 88.7 | 88.7 | 89.6 | ||||||||||||||||||
Galaxy Universal LLC | (v) | Consumer Durables & Apparel | L+500 | 1.0% | 11/12/26 | 26.0 | 25.7 | 26.0 | ||||||||||||||||||
Galway Partners Holdings LLC | (k)(l)(t)(v) | Insurance | L+525, 0.0% PIK (1.3% Max PIK) | 0.8% | 9/29/28 | 112.9 | 110.7 | 110.3 | ||||||||||||||||||
Galway Partners Holdings LLC | (x) | Insurance | L+525, 0.0% PIK (1.3% Max PIK) | 0.8% | 9/30/27 | 12.0 | 11.7 | 11.7 | ||||||||||||||||||
Galway Partners Holdings LLC | (x) | Insurance | L+525, 0.0% PIK (1.3% Max PIK) | 0.8% | 9/29/28 | 20.4 | 20.4 | 19.9 | ||||||||||||||||||
General Datatech LP | (f)(k)(l)(m)(t)(v) | Software & Services | L+625 | 1.0% | 6/18/27 | 168.0 | 166.5 | 163.0 | ||||||||||||||||||
Gigamon Inc | (v) | Software & Services | SF+575 | 0.8% | 3/12/29 | 175.5 | 173.7 | 173.7 | ||||||||||||||||||
Gigamon Inc | (x) | Software & Services | SF+575 | 0.8% | 3/13/28 | 9.3 | 9.3 | 9.3 | ||||||||||||||||||
Greystone Equity Member Corp | (v)(w) | Diversified Financials | L+725 | 3.8% | 4/1/26 | 194.8 | 183.2 | 187.5 | ||||||||||||||||||
Heniff Transportation Systems LLC | (v) | Transportation | L+575 | 1.0% | 12/3/24 | 6.2 | 6.0 | 5.9 | ||||||||||||||||||
Heniff Transportation Systems LLC | (f)(i)(k)(l)(m)(v) | Transportation | L+575 | 1.0% | 12/3/26 | 137.3 | 130.4 | 129.0 | ||||||||||||||||||
Heniff Transportation Systems LLC | (v) | Transportation | L+625 | 1.0% | 12/3/26 | 19.3 | 18.6 | 18.5 | ||||||||||||||||||
Heniff Transportation Systems LLC | (x) | Transportation | L+575 | 1.0% | 12/3/24 | 11.6 | 11.6 | 10.9 | ||||||||||||||||||
Hibu Inc | (f)(k)(l)(m)(t)(v) | Commercial & Professional Services | L+625 | 1.0% | 5/4/27 | 100.9 | 96.1 | 102.9 | ||||||||||||||||||
Higginbotham Insurance Agency Inc | (v) | Insurance | L+550 | 0.8% | 11/25/26 | 8.3 | 7.8 | 8.5 | ||||||||||||||||||
Higginbotham Insurance Agency Inc | (x) | Insurance | L+550 | 0.8% | 11/25/26 | 9.1 | 9.1 | 9.3 | ||||||||||||||||||
HM Dunn Co Inc | (ad)(v) | Capital Goods | L+600 PIK (L+600 Max PIK) | 1.0% | 6/30/26 | 34.0 | 34.0 | 34.0 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||
HM Dunn Co Inc | (ad)(x) | Capital Goods | L+600 PIK (L+600 Max PIK) | 1.0% | 6/30/26 | $ | 2.0 | $ | 2.0 | $ | 2.0 | |||||||||||||||
Individual FoodService | (v) | Capital Goods | L+625 | 1.0% | 11/22/24 | 0.8 | 0.8 | 0.8 | ||||||||||||||||||
Individual FoodService | (m)(s)(v) | Capital Goods | L+625 | 1.0% | 11/22/25 | 98.4 | 94.3 | 99.0 | ||||||||||||||||||
Individual FoodService | (x) | Capital Goods | L+625 | 1.0% | 11/22/24 | 3.9 | 3.9 | 3.9 | ||||||||||||||||||
Individual FoodService | (x) | Capital Goods | L+625 | 1.0% | 11/22/25 | 4.7 | 4.7 | 4.8 | ||||||||||||||||||
Industria Chimica Emiliana Srl | (v)(w) | Pharmaceuticals, Biotechnology & Life Sciences | E+725 | 0.0% | 9/27/26 | € | 88.8 | 101.5 | 97.8 | |||||||||||||||||
Industry City TI Lessor LP | (s)(v) | Consumer Services | 10.8%, 1.0% PIK (1.0% Max PIK) | 6/30/26 | $ | 28.9 | 28.9 | 30.9 | ||||||||||||||||||
Insight Global LLC | (v) | Commercial & Professional Services | L+600 | 0.8% | 9/22/27 | 4.2 | 4.2 | 4.1 | ||||||||||||||||||
Insight Global LLC | (i)(v) | Commercial & Professional Services | L+600 | 0.8% | 9/22/28 | 204.8 | 202.9 | 201.1 | ||||||||||||||||||
Insight Global LLC | (x) | Commercial & Professional Services | L+600 | 0.8% | 9/22/27 | 16.8 | 16.8 | 16.5 | ||||||||||||||||||
Insight Global LLC | (x) | Commercial & Professional Services | L+600 | 0.8% | 9/22/28 | 26.8 | 26.8 | 26.4 | ||||||||||||||||||
Integrity Marketing Group LLC | (x) | Insurance | L+550 | 0.8% | 8/27/25 | 145.3 | 145.3 | 144.0 | ||||||||||||||||||
J S Held LLC | (f)(i)(m)(s)(v) | Insurance | L+550 | 1.0% | 7/1/25 | 103.8 | 101.2 | 103.8 | ||||||||||||||||||
J S Held LLC | (v) | Insurance | L+550 | 1.0% | 7/1/25 | 1.1 | 0.9 | 1.1 | ||||||||||||||||||
J S Held LLC | (v) | Insurance | L+550 | 1.0% | 7/1/25 | 22.4 | 22.4 | 22.6 | ||||||||||||||||||
J S Held LLC | (f)(v) | Insurance | SF+550 | 1.0% | 7/1/25 | 20.1 | 20.1 | 20.1 | ||||||||||||||||||
J S Held LLC | (x) | Insurance | L+550 | 1.0% | 7/1/25 | 13.0 | 13.0 | 13.0 | ||||||||||||||||||
J S Held LLC | (x) | Insurance | SF+550 | 1.0% | 7/1/25 | 24.2 | 24.2 | 24.2 | ||||||||||||||||||
Jarrow Formulas Inc | (f)(i)(k)(l)(m)(s)(t)(v) | Household & Personal Products | L+625 | 1.0% | 11/30/26 | 185.4 | 176.4 | 189.1 | ||||||||||||||||||
Karman Space Inc | (m)(v) | Capital Goods | L+700 | 1.0% | 12/21/25 | 91.8 | 88.4 | 93.6 | ||||||||||||||||||
Karman Space Inc | (v) | Capital Goods | L+700 | 1.0% | 12/21/25 | 4.4 | 4.2 | 4.4 | ||||||||||||||||||
Karman Space Inc | (x) | Capital Goods | L+700 | 1.0% | 12/21/25 | 1.1 | 1.1 | 1.1 | ||||||||||||||||||
Kellermeyer Bergensons Services LLC | (f)(i)(k)(l)(m)(s)(t)(v) | Commercial & Professional Services | L+600 | 1.0% | 11/7/26 | 371.8 | 360.2 | 369.1 | ||||||||||||||||||
Lakefield Veterinary Group | (f)(i)(v) | Health Care Equipment & Services | L+550 | 0.8% | 11/23/28 | 99.4 | 98.6 | 97.4 | ||||||||||||||||||
Lakefield Veterinary Group | (x) | Health Care Equipment & Services | L+550 | 0.8% | 11/23/28 | 44.9 | 44.9 | 44.0 | ||||||||||||||||||
Lakeview Farms Inc | (l)(m)(v) | Food, Beverage & Tobacco | L+625 | 1.0% | 6/10/27 | 76.9 | 75.1 | 75.8 | ||||||||||||||||||
Lakeview Farms Inc | (v) | Food, Beverage & Tobacco | L+625 | 1.0% | 6/10/27 | 4.2 | 4.2 | 4.1 | ||||||||||||||||||
Lakeview Farms Inc | (x) | Food, Beverage & Tobacco | L+625 | 1.0% | 6/10/27 | 10.8 | 10.8 | 10.7 | ||||||||||||||||||
Lakeview Farms Inc | (x) | Food, Beverage & Tobacco | L+625 | 1.0% | 6/10/27 | 2.6 | 2.6 | 2.5 | ||||||||||||||||||
Lexitas Inc | (i)(k)(l)(m)(v) | Commercial & Professional Services | L+600 | 1.0% | 11/14/25 | 111.5 | 108.2 | 112.6 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||
Lexitas Inc | (x) | Commercial & Professional Services | L+600 | 1.0% | 11/14/25 | $ | 5.4 | $ | 5.4 | $ | 5.4 | |||||||||||||||
Lexitas Inc | (x) | Commercial & Professional Services | L+600 | 1.0% | 11/14/25 | 5.4 | 5.4 | 5.4 | ||||||||||||||||||
Lionbridge Technologies Inc | (f)(k)(s)(t) | Consumer Services | L+700 | 1.0% | 12/29/25 | 68.0 | 63.4 | 69.1 | ||||||||||||||||||
Lipari Foods LLC | (f)(m)(s)(v) | Food & Staples Retailing | L+575 | 1.0% | 1/6/25 | 272.0 | 261.9 | 272.0 | ||||||||||||||||||
Lloyd’s Register Quality Assurance Ltd | (w)(x) | Consumer Services | SA+600, 0.0% PIK (6.3% Max PIK) | 0.0% | 12/2/28 | £ | 15.0 | 20.0 | 19.4 | |||||||||||||||||
Matchesfashion Ltd | (v)(w) | Consumer Durables & Apparel | L+463, 3.0% PIK (3.0% Max PIK) | 0.0% | 10/11/24 | $ | 12.9 | 12.5 | 8.1 | |||||||||||||||||
MB2 Dental Solutions LLC | (k)(l)(m)(t)(v) | Health Care Equipment & Services | L+600 | 1.0% | 1/29/27 | 246.1 | 235.9 | 246.3 | ||||||||||||||||||
MB2 Dental Solutions LLC | (x) | Health Care Equipment & Services | L+600 | 1.0% | 1/29/27 | 41.0 | 41.0 | 41.1 | ||||||||||||||||||
Medallia Inc | (v) | Software & Services | L+675 PIK (L+675 Max PIK) | 0.8% | 10/29/28 | 168.5 | 166.9 | 166.8 | ||||||||||||||||||
Med-Metrix | (v) | Software & Services | L+600 | 1.0% | 9/15/27 | 56.5 | 56.1 | 56.4 | ||||||||||||||||||
Med-Metrix | (x) | Software & Services | L+600 | 1.0% | 9/15/27 | 25.0 | 25.0 | 25.0 | ||||||||||||||||||
Med-Metrix | (x) | Software & Services | L+600 | 1.0% | 9/15/27 | 7.8 | 7.8 | 7.8 | ||||||||||||||||||
Miami Beach Medical Group LLC | (k)(l)(m)(t)(v) | Health Care Equipment & Services | L+650 | 1.0% | 12/14/26 | 180.1 | 171.3 | 173.1 | ||||||||||||||||||
Monitronics International Inc | (aa)(f)(v) | Commercial & Professional Services | L+750 | 1.3% | 3/29/24 | 18.8 | 17.3 | 15.5 | ||||||||||||||||||
Monitronics International Inc | (v) | Commercial & Professional Services | L+600 | 1.5% | 7/3/24 | 60.8 | 58.5 | 58.0 | ||||||||||||||||||
Monitronics International Inc | (x) | Commercial & Professional Services | L+600 | 1.5% | 7/3/24 | 9.2 | 9.2 | 8.7 | ||||||||||||||||||
Motion Recruitment Partners LLC | (v) | Commercial & Professional Services | L+650 | 1.0% | 12/19/25 | 4.8 | 4.5 | 4.8 | ||||||||||||||||||
Motion Recruitment Partners LLC | (m)(t)(v) | Commercial & Professional Services | L+650 | 1.0% | 12/22/25 | 55.1 | 51.0 | 55.2 | ||||||||||||||||||
Motion Recruitment Partners LLC | (f)(i)(v) | Commercial & Professional Services | SF+650 | 1.0% | 12/22/25 | 64.5 | 64.5 | 64.7 | ||||||||||||||||||
Motion Recruitment Partners LLC | (x) | Commercial & Professional Services | L+650 | 1.0% | 12/19/25 | 59.6 | 59.6 | 59.7 | ||||||||||||||||||
NBG Home | (v) | Consumer Durables & Apparel | L+550 | 1.0% | 4/26/24 | 67.4 | 67.2 | 50.8 | ||||||||||||||||||
NCI Inc | (v) | Software & Services | L+750, 0.0% PIK (2.5% Max PIK) | 1.0% | 8/15/24 | 78.3 | 77.3 | 72.5 | ||||||||||||||||||
Net Documents | (v) | Software & Services | L+650 | 1.0% | 6/30/27 | 24.6 | 24.4 | 24.1 | ||||||||||||||||||
Net Documents | (v) | Software & Services | L+675 | 1.0% | 6/30/27 | 0.7 | 0.7 | 0.7 | ||||||||||||||||||
Net Documents | (x) | Software & Services | L+675 | 1.0% | 6/30/27 | 2.3 | 2.3 | 2.2 | ||||||||||||||||||
Net Documents | (x) | Software & Services | L+675 | 1.0% | 6/30/27 | 7.4 | 7.3 | 7.2 | ||||||||||||||||||
New Era Technology Inc | (i)(l)(m)(t)(v) | Software & Services | L+625 | 1.0% | 10/31/26 | 86.7 | 83.0 | 86.8 | ||||||||||||||||||
New Era Technology Inc | (v) | Software & Services | L+625 | 1.0% | 10/31/26 | 2.7 | 2.7 | 2.7 | ||||||||||||||||||
New Era Technology Inc | (x) | Software & Services | L+625 | 1.0% | 10/31/26 | 9.3 | 9.3 | 9.4 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||
New Era Technology Inc | (x) | Software & Services | L+625 | 1.0% | 10/31/26 | $ | 1.9 | $ | 1.9 | $ | 1.9 | |||||||||||||||
Novotech Pty Ltd | (w)(x) | Health Care Equipment & Services | SF+575 | 0.5% | 1/13/28 | 5.7 | 5.6 | 5.6 | ||||||||||||||||||
Omnimax International Inc | (f)(i)(k)(l)(m)(v) | Capital Goods | L+725 | 1.0% | 10/8/26 | 197.9 | 189.4 | 195.0 | ||||||||||||||||||
One Call Care Management Inc | (aa)(ad)(v) | Health Care Equipment & Services | L+550 | 0.8% | 4/22/27 | 5.0 | 4.7 | 4.7 | ||||||||||||||||||
Oxford Global Resources LLC | (f)(k)(l)(m)(t) | Commercial & Professional Services | L+600 | 1.0% | 8/17/27 | 88.2 | 87.4 | 89.1 | ||||||||||||||||||
Oxford Global Resources LLC | (v) | Commercial & Professional Services | L+600 | 1.0% | 8/17/27 | 5.8 | 5.8 | 5.8 | ||||||||||||||||||
Oxford Global Resources LLC | (x) | Commercial & Professional Services | L+600 | 1.0% | 8/17/27 | 15.3 | 15.3 | 15.4 | ||||||||||||||||||
Oxford Global Resources LLC | (x) | Commercial & Professional Services | L+600 | 1.0% | 8/17/27 | 1.8 | 1.8 | 1.8 | ||||||||||||||||||
P2 Energy Solutions Inc. | (v) | Software & Services | L+675 | 1.0% | 1/31/25 | 3.7 | 3.5 | 3.5 | ||||||||||||||||||
P2 Energy Solutions Inc. | (i)(k)(m)(s)(t)(v) | Software & Services | L+675 | 1.0% | 2/2/26 | 248.4 | 232.8 | 231.3 | ||||||||||||||||||
P2 Energy Solutions Inc. | (x) | Software & Services | L+675 | 1.0% | 1/31/25 | 11.4 | 11.4 | 10.6 | ||||||||||||||||||
Parata Systems | (f)(m)(v) | Health Care Equipment & Services | L+575 | 1.0% | 6/30/27 | 73.7 | 73.2 | 73.7 | ||||||||||||||||||
Parata Systems | (x) | Health Care Equipment & Services | L+575 | 1.0% | 6/30/27 | 22.0 | 22.0 | 22.0 | ||||||||||||||||||
Parata Systems | (x) | Health Care Equipment & Services | L+575 | 1.0% | 6/30/27 | 5.5 | 5.5 | 5.5 | ||||||||||||||||||
Parts Town LLC | (v) | Retailing | L+550 | 0.8% | 11/1/28 | 131.1 | 129.7 | 129.8 | ||||||||||||||||||
PartsSource Inc | (v) | Health Care Equipment & Services | L+575 | 0.8% | 8/23/28 | 65.6 | 64.9 | 64.2 | ||||||||||||||||||
PartsSource Inc | (x) | Health Care Equipment & Services | L+575 | 0.8% | 8/21/26 | 4.3 | 4.2 | 4.2 | ||||||||||||||||||
PartsSource Inc | (x) | Health Care Equipment & Services | L+575 | 0.8% | 8/23/28 | 22.9 | 22.6 | 22.4 | ||||||||||||||||||
Peraton Corp | (aa)(v) | Capital Goods | L+375 | 0.8% | 2/1/28 | 8.8 | 8.5 | 8.8 | ||||||||||||||||||
Performance Health Holdings Inc | (f)(i)(v) | Health Care Equipment & Services | L+600 | 1.0% | 7/12/27 | 108.3 | 107.3 | 107.3 | ||||||||||||||||||
Petroplex Acidizing Inc | (ac)(v)(y)(z) | Energy | L+825, 1.8% PIK (1.8% Max PIK) | 1.0% | 6/30/23 | 27.3 | 21.9 | 12.2 | ||||||||||||||||||
Polyconcept North America Inc | (aa)(v) | Household & Personal Products | L+450 PIK (L+450 Max PIK) | 1.0% | 8/16/23 | 23.1 | 22.9 | 23.0 | ||||||||||||||||||
Premium Credit Ltd | (v)(w) | Diversified Financials | SA+650 | 0.0% | 1/16/26 | £ | 55.9 | 72.8 | 73.5 | |||||||||||||||||
Production Resource Group LLC | (ad)(v) | Media & Entertainment | L+300, 5.5% PIK (5.5% Max PIK) | 0.3% | 8/21/24 | $ | 136.8 | 129.0 | 136.8 | |||||||||||||||||
Production Resource Group LLC | (ad)(v) | Media & Entertainment | L+550 PIK (L+550 Max PIK) | 1.0% | 8/21/24 | 0.1 | 0.1 | 0.1 | ||||||||||||||||||
Production Resource Group LLC | (ad)(v) | Media & Entertainment | L+500, 3.1% PIK (3.1% Max PIK) | 1.0% | 8/21/24 | 91.2 | 87.2 | 91.2 | ||||||||||||||||||
Production Resource Group LLC | (ad)(x) | Media & Entertainment | L+500, 3.1% PIK (3.1% Max PIK) | 1.0% | 8/21/24 | 4.0 | 4.0 | 4.0 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||
Propulsion Acquisition LLC | (f)(l)(s)(t)(v) | Capital Goods | L+700 | 1.0% | 7/13/24 | $ | 60.4 | $ | 57.0 | $ | 61.0 | |||||||||||||||
PSKW LLC | (i)(l)(s)(t)(v) | Health Care Equipment & Services | L+625 | 1.0% | 3/9/26 | 294.0 | 283.4 | 294.0 | ||||||||||||||||||
Pure Fishing Inc | (aa)(v) | Consumer Durables & Apparel | L+450 | 0.0% | 12/22/25 | 34.0 | 33.3 | 32.4 | ||||||||||||||||||
Qdoba Restaurant Corp | (aa)(m)(v) | Consumer Services | L+700 | 1.0% | 3/21/25 | 10.9 | 10.8 | 10.6 | ||||||||||||||||||
Reliant Rehab Hospital Cincinnati LLC | (f)(i)(l)(m)(s)(v) | Health Care Equipment & Services | L+625 | 0.0% | 2/28/26 | 107.8 | 101.9 | 104.3 | ||||||||||||||||||
Revere Superior Holdings Inc | (m)(v) | Software & Services | L+575 | 1.0% | 9/30/26 | 29.9 | 29.3 | 30.2 | ||||||||||||||||||
Revere Superior Holdings Inc | (x) | Software & Services | L+575 | 1.0% | 9/30/26 | 3.8 | 3.8 | 3.8 | ||||||||||||||||||
Revere Superior Holdings Inc | (x) | Software & Services | L+575 | 1.0% | 9/30/26 | 3.2 | 3.2 | 3.2 | ||||||||||||||||||
Rise Baking Company | (v) | Food, Beverage & Tobacco | L+625 | 1.0% | 8/13/27 | 3.3 | 3.2 | 3.1 | ||||||||||||||||||
Rise Baking Company | (l)(m) | Food, Beverage & Tobacco | L+625 | 1.0% | 8/13/27 | 28.8 | 28.1 | 27.2 | ||||||||||||||||||
Rise Baking Company | (x) | Food, Beverage & Tobacco | L+625 | 1.0% | 8/13/27 | 2.0 | 2.0 | 1.9 | ||||||||||||||||||
RSC Insurance Brokerage Inc | (f)(i)(k)(l)(m)(s)(v) | Insurance | L+550 | 0.8% | 10/30/26 | 229.4 | 222.9 | 231.7 | ||||||||||||||||||
RSC Insurance Brokerage Inc | (x) | Insurance | L+550 | 0.8% | 10/30/26 | 12.5 | 12.4 | 12.6 | ||||||||||||||||||
RSC Insurance Brokerage Inc | (x) | Insurance | L+550 | 0.8% | 10/30/26 | 7.7 | 7.6 | 7.7 | ||||||||||||||||||
Safe-Guard Products International LLC | (f) | Diversified Financials | L+500 | 0.5% | 1/27/27 | 0.1 | 0.1 | 0.1 | ||||||||||||||||||
SAMBA Safety Inc | (v) | Software & Services | L+575 | 1.0% | 9/1/27 | 0.6 | 0.6 | 0.6 | ||||||||||||||||||
SAMBA Safety Inc | (x) | Software & Services | L+575 | 1.0% | 9/1/27 | 1.8 | 1.8 | 1.8 | ||||||||||||||||||
SAMBA Safety Inc | (x) | Software & Services | L+575 | 1.0% | 9/1/27 | 6.1 | 6.1 | 6.0 | ||||||||||||||||||
SavATree LLC | (v) | Consumer Services | L+550 | 0.8% | 10/12/28 | 1.9 | 1.9 | 1.9 | ||||||||||||||||||
SavATree LLC | (x) | Consumer Services | L+550 | 0.8% | 10/12/28 | 7.6 | 7.6 | 7.6 | ||||||||||||||||||
SavATree LLC | (x) | Consumer Services | L+550 | 0.8% | 10/12/28 | 6.3 | 6.3 | 6.3 | ||||||||||||||||||
Sequa Corp | (aa)(m)(v) | Capital Goods | L+675, 0.0% PIK (1.0% Max PIK) | 1.0% | 11/28/23 | 16.0 | 15.4 | 16.1 | ||||||||||||||||||
Sequa Corp | (v) | Capital Goods | L+900, 0.0% PIK (9.5% Max PIK) | 1.0% | 7/31/25 | 16.4 | 16.0 | 17.0 | ||||||||||||||||||
Sequel Youth & Family Services LLC | (v)(y)(z) | Health Care Equipment & Services | 3.0% | 2/28/25 | 50.0 | 50.0 | 50.0 | |||||||||||||||||||
Sequel Youth & Family Services LLC | (v)(y)(z) | Health Care Equipment & Services | 3.0% | 2/28/25 | 70.0 | 10.5 | 10.5 | |||||||||||||||||||
Sequel Youth & Family Services LLC | (v) | Health Care Equipment & Services | SF+550 | 1.0% | 2/28/27 | 26.0 | 26.0 | 26.0 | ||||||||||||||||||
Sequel Youth & Family Services LLC | (v) | Health Care Equipment & Services | 12.0% PIK (12.0% Max PIK) | 2/28/27 | 21.0 | 20.8 | 20.8 | |||||||||||||||||||
SitusAMC Holdings Corp | (k)(l)(v) | Real Estate | L+575 | 0.8% | 12/22/27 | 76.6 | 75.9 | 75.5 | ||||||||||||||||||
Sorenson Communications LLC | (aa)(ac)(f)(k)(t)(v) | Telecommunication Services | L+550 | 0.8% | 3/17/26 | 58.5 | 55.7 | 58.5 | ||||||||||||||||||
Source Code LLC | (k)(l)(t) | Software & Services | L+650 | 1.0% | 6/30/27 | 53.2 | 52.2 | 52.4 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||
Source Code LLC | (x) | Software & Services | L+650 | 1.0% | 6/30/27 | $ | 15.3 | $ | 15.0 | $ | 15.0 | |||||||||||||||
Spins LLC | (m)(s)(t)(v) | Software & Services | L+550 | 1.0% | 1/20/27 | 68.7 | 65.5 | 69.4 | ||||||||||||||||||
Spins LLC | (x) | Software & Services | L+550 | 1.0% | 1/20/27 | 16.5 | 16.5 | 16.6 | ||||||||||||||||||
Spins LLC | (x) | Software & Services | L+550 | 1.0% | 1/20/27 | 7.9 | 7.9 | 7.9 | ||||||||||||||||||
Staples Canada | (v)(w) | Retailing | C+700 | 1.0% | 9/12/24 | C$ | 34.5 | 26.9 | 28.4 | |||||||||||||||||
Summit Interconnect Inc | (f)(k)(l)(t)(v) | Capital Goods | L+600 | 1.0% | 9/22/28 | $ | 98.0 | 97.1 | 96.2 | |||||||||||||||||
Summit Interconnect Inc | (x) | Capital Goods | L+600 | 1.0% | 9/22/28 | 48.7 | 48.7 | 47.8 | ||||||||||||||||||
Sungard Availability Services Capital Inc | (ac)(v) | Software & Services | SF+375, 3.8% PIK (3.8% Max PIK) | 1.0% | 7/1/24 | 5.8 | 5.8 | 5.3 | ||||||||||||||||||
Sweeping Corp of America Inc | (m)(v) | Commercial & Professional Services | L+575 | 1.0% | 11/30/26 | 69.7 | 67.4 | 70.4 | ||||||||||||||||||
Sweeping Corp of America Inc | (x) | Commercial & Professional Services | L+575 | 1.0% | 11/30/26 | 3.1 | 3.1 | 3.1 | ||||||||||||||||||
Sweeping Corp of America Inc | (x) | Commercial & Professional Services | L+575 | 1.0% | 11/30/26 | 5.7 | 5.6 | 5.7 | ||||||||||||||||||
Tangoe LLC | (m)(s)(v) | Software & Services | L+650 | 1.0% | 11/28/25 | 189.9 | 172.2 | 147.2 | ||||||||||||||||||
ThermaSys Corp | (ac)(v)(y)(z) | Capital Goods | L+1,100 PIK (L+1,100 Max PIK) | 1.0% | 1/1/24 | 8.8 | 8.3 | 3.7 | ||||||||||||||||||
ThreeSixty Group | (m)(v) | Retailing | L+500, 2.5% PIK (2.5% Max PIK) | 1.5% | 3/1/23 | 48.5 | 48.4 | 48.0 | ||||||||||||||||||
ThreeSixty Group | (m)(v) | Retailing | L+500, 2.5% PIK (2.5% Max PIK) | 1.5% | 3/1/23 | 48.3 | 48.1 | 47.8 | ||||||||||||||||||
Time Manufacturing Co | (v) | Capital Goods | L+650 | 0.8% | 12/1/27 | 45.7 | 44.7 | 44.4 | ||||||||||||||||||
Time Manufacturing Co | (v) | Capital Goods | L+650 | 0.8% | 12/1/27 | 7.4 | 7.4 | 7.2 | ||||||||||||||||||
Time Manufacturing Co | (x) | Capital Goods | L+650 | 0.8% | 12/1/27 | 13.7 | 13.7 | 13.4 | ||||||||||||||||||
Time Manufacturing Co | (x) | Capital Goods | L+650 | 0.8% | 12/1/27 | 14.7 | 14.7 | 14.3 | ||||||||||||||||||
Transaction Services Group Ltd | (v)(w) | Software & Services | B+650 | 0.0% | 10/15/26 | A$ | 80.3 | 55.9 | 58.6 | |||||||||||||||||
Transaction Services Group Ltd | (v)(w) | Software & Services | L+650 | 0.0% | 10/15/26 | $ | 126.2 | 122.4 | 122.9 | |||||||||||||||||
Transaction Services Group Ltd | (v)(w) | Software & Services | L+650 | 0.0% | 10/15/26 | £ | 13.9 | 17.7 | 17.8 | |||||||||||||||||
Ultra Electronics Holdings PLC | (aa)(ab)(v)(w) | Capital Goods | L+375 | 0.5% | 11/17/28 | $ | 1.8 | 1.8 | 1.8 | |||||||||||||||||
Ultra Electronics Holdings PLC | (aa)(ab)(v)(w) | Capital Goods | E+375 | 0.0% | 11/17/28 | € | 1.4 | 1.6 | 1.5 | |||||||||||||||||
Warren Resources Inc | (ad)(v) | Energy | L+900, 1.0% PIK (1.0% Max PIK) | 1.0% | 5/22/24 | $ | 18.5 | 17.3 | 18.5 | |||||||||||||||||
Wealth Enhancement Group LLC | (v)(w) | Diversified Financials | L+625 | 1.0% | 10/4/27 | 17.6 | 17.5 | 17.6 | ||||||||||||||||||
Wealth Enhancement Group LLC | (v)(w) | Diversified Financials | L+625 | 1.0% | 10/4/27 | 0.4 | 0.4 | 0.4 | ||||||||||||||||||
Wealth Enhancement Group LLC | (w)(x) | Diversified Financials | L+625 | 1.0% | 10/4/27 | 10.8 | 10.8 | 10.8 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||
Wealth Enhancement Group LLC | (w)(x) | Diversified Financials | L+625 | 1.0% | 10/4/27 | $ | 1.3 | $ | 1.3 | $ | 1.3 | |||||||||||||||
Woolpert Inc | (f)(k)(l)(m)(t)(v) | Capital Goods | L+600 | 1.0% | 4/5/28 | 160.7 | 154.2 | 162.4 | ||||||||||||||||||
Woolpert Inc | (x) | Capital Goods | L+600 | 1.0% | 4/5/28 | 3.7 | 3.7 | 3.7 | ||||||||||||||||||
Worldwise Inc | (v) | Household & Personal Products | SF+625 | 1.0% | 3/29/28 | 85.3 | 84.5 | 84.5 | ||||||||||||||||||
Worldwise Inc | (x) | Household & Personal Products | SF+625 | 1.0% | 3/29/28 | 42.7 | 42.2 | 42.2 | ||||||||||||||||||
Worldwise Inc | (x) | Household & Personal Products | SF+625 | 1.0% | 3/29/28 | 14.2 | 14.2 | 14.2 | ||||||||||||||||||
|
|
|
| |||||||||||||||||||||||
Total Senior Secured Loans—First Lien | 11,280.2 | 11,341.7 | ||||||||||||||||||||||||
Unfunded Loan Commitments | (1,418.6 | ) | (1,418.6 | ) | ||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||
Net Senior Secured Loans—First Lien | 9,861.6 | 9,923.1 | ||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||
Senior Secured Loans—Second Lien—18.2% | ||||||||||||||||||||||||||
Advanced Lighting Technologies Inc | (v)(y)(z) | Materials | L+600 | 1.0% | 3/16/27 | 11.7 | 10.5 | 5.6 | ||||||||||||||||||
Ammeraal Beltech Holding BV | (f)(s)(v)(w) | Capital Goods | L+775 | 0.0% | 9/12/26 | 44.9 | 41.0 | 43.8 | ||||||||||||||||||
Amtek Global Technology Pte Ltd | (ad)(v)(w)(y)(z) | Automobiles & Components | E+500 PIK (E+500 Max PIK) | 0.0% | 4/4/24 | € | 35.2 | 39.0 | — | |||||||||||||||||
Belk Inc | (ac)(v)(y)(z) | Retailing | 10.0% PIK (10.0% Max PIK) | 7/31/25 | $ | 26.2 | 4.2 | 5.3 | ||||||||||||||||||
Byrider Finance LLC | (u)(v) | Automobiles & Components | L+1,000, 0.5% PIK (0.5% Max PIK) | 1.3% | 6/21/22 | 54.3 | 53.6 | 54.5 | ||||||||||||||||||
Caldic BV | (v)(w) | Retailing | SF+725 | 0.5% | 12/30/29 | 40.0 | 38.9 | 38.9 | ||||||||||||||||||
Constellis Holdings LLC | (ac)(v) | Capital Goods | L+1,100, 0.0% PIK (5.0% Max PIK) | 1.0% | 3/27/25 | 13.5 | 12.6 | 9.5 | ||||||||||||||||||
Cubic Corp | (v) | Software & Services | L+763 | 0.8% | 5/25/29 | 54.8 | 51.9 | 55.4 | ||||||||||||||||||
Ellucian Inc | (v) | Software & Services | L+800 | 1.0% | 10/9/28 | 179.2 | 170.2 | 183.2 | ||||||||||||||||||
Fairway Group Holdings Corp | (ac)(v)(y)(z) | Food & Staples Retailing | 11.0% PIK (11.0% Max PIK) | 2/24/24 | 6.9 | — | — | |||||||||||||||||||
Misys Ltd | (aa)(v)(w) | Software & Services | L+725 | 1.0% | 6/13/25 | 16.3 | 15.4 | 16.1 | ||||||||||||||||||
NBG Home | (v)(y)(z) | Consumer Durables & Apparel | L+1,275 PIK (L+1,275 Max PIK) | 1.0% | 9/30/24 | 32.4 | 28.2 | 2.2 | ||||||||||||||||||
OEConnection LLC | (f)(v) | Software & Services | L+700 | 0.5% | 9/25/27 | 76.1 | 75.7 | 74.3 | ||||||||||||||||||
Peraton Corp | (s)(v) | Capital Goods | L+800 | 1.0% | 2/1/29 | 175.0 | 165.4 | 178.4 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||
Peraton Corp | (v) | Capital Goods | L+775 | 0.8% | 2/1/29 | $ | 151.9 | $ | 145.6 | $ | 152.9 | |||||||||||||||||||||
Petrochoice Holdings Inc | (v) | Capital Goods | L+875 | 1.0% | 8/21/23 | 65.0 | 64.5 | 48.1 | ||||||||||||||||||||||||
Polyconcept North America Inc | (v) | Household & Personal Products | 11.0% PIK (11.0% Max PIK) | 2/16/24 | 10.3 | 10.2 | 10.3 | |||||||||||||||||||||||||
Pure Fishing Inc | (f)(m)(v) | Consumer Durables & Apparel | L+838 | 1.0% | 12/21/26 | 100.0 | 94.7 | 94.8 | ||||||||||||||||||||||||
Sequa Corp | (aa)(m)(v) | Capital Goods | L+1,075, 0.0% PIK (6.8% Max PIK) | 1.0% | 4/28/24 | 5.9 | 5.7 | 5.9 | ||||||||||||||||||||||||
SIRVA Worldwide Inc | (aa)(v) | Commercial & Professional Services | L+950 | 0.0% | 8/3/26 | 6.5 | 5.4 | 5.5 | ||||||||||||||||||||||||
Solera LLC | (aa)(v) | Software & Services | L+800 | 1.0% | 6/4/29 | 312.4 | 296.2 | 314.9 | ||||||||||||||||||||||||
Sungard Availability Services Capital Inc | (ac)(v)(y)(z) | Software & Services | SF+400, 2.8% PIK (2.8% Max PIK) | 1.0% | 8/1/24 | 14.7 | 13.5 | 2.5 | ||||||||||||||||||||||||
Valeo Foods Group Ltd | (w)(x) | Food, Beverage & Tobacco | E+750 | 0.0% | 10/1/29 | € | 6.2 | 7.2 | 6.9 | |||||||||||||||||||||||
Vantage Specialty Chemicals Inc | (aa)(v) | Materials | L+825 | 1.0% | 10/27/25 | $ | 0.8 | 0.7 | 0.7 | |||||||||||||||||||||||
Wittur Holding GmbH | (v)(w) | Capital Goods | E+850, 0.5% PIK (0.5% Max PIK) | 0.0% | 9/23/27 | € | 112.8 | 121.1 | 113.5 | |||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||||
Total Senior Secured Loans—Second Lien | 1,471.4 | 1,423.2 | ||||||||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||||
Unfunded Loan Commitments | (7.1 | ) | (7.1 | ) | ||||||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||||
Net Senior Secured Loans—Second Lien | 1,464.3 | 1,416.1 | ||||||||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||||
Other Senior Secured Debt—1.5% | ||||||||||||||||||||||||||||||||
Angelica Corp | (h)(y)(z) | Health Care Equipment & Services | 10.0% PIK (10.0% Max PIK) | 12/30/22 | $ | 53.4 | 42.2 | 5.9 | ||||||||||||||||||||||||
JW Aluminum Co | (aa)(ad)(s)(v) | Materials | 10.3% | 6/1/26 | 76.5 | 75.6 | 80.1 | |||||||||||||||||||||||||
One Call Care Management Inc | (ad)(v) | Health Care Equipment & Services | 8.5% PIK (8.5% Max PIK) | 11/1/28 | 23.5 | 21.7 | 21.2 | |||||||||||||||||||||||||
TruckPro LLC | (aa)(v) | Capital Goods | 11.0% | 10/15/24 | 9.2 | 9.2 | 9.7 | |||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||||
Total Other Senior Secured Debt | 148.7 | 116.9 | ||||||||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||||
Subordinated Debt—1.0% | ||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (aa)(v)(w) | Insurance | 12.8% PIK (12.8% Max PIK) | 1/15/27 | 0.9 | 1.0 | 1.0 | |||||||||||||||||||||||||
athenahealth Inc | (ac)(aa)(v) | Health Care Equipment & Services | 6.5% | 2/15/30 | 5.5 | 5.5 | 5.4 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||
ATX Networks Corp | (ad)(s)(v)(w)(y)(z) | Capital Goods | 10.0% PIK (10.0% Max PIK) | 9/1/28 | $ | 19.3 | $ | 4.8 | $ | 12.8 | ||||||||||||||||||||||
ClubCorp Club Operations Inc | (aa)(v) | Consumer Services | 8.5% | 9/15/25 | 37.3 | 35.5 | 35.1 | |||||||||||||||||||||||||
Encora Digital Inc | (v) | Software & Services | 9.8% PIK (9.8% Max PIK) | 12/13/29 | 21.6 | 21.0 | 20.9 | |||||||||||||||||||||||||
Hilding Anders | (ad)(v)(w)(y) | Consumer Durables & Apparel | € | 24.8 | 26.9 | — | ||||||||||||||||||||||||||
Hilding Anders | (ad)(v)(w)(y) | Consumer Durables & Apparel | 110.5 | — | — | |||||||||||||||||||||||||||
Hilding Anders | (ad)(v)(w)(y)(z) | Consumer Durables & Apparel | 13.0% PIK (13.0% Max PIK) | 11/30/25 | 134.4 | 99.4 | — | |||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||||
Total Subordinated Debt | 194.1 | 75.2 | ||||||||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||||
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c)/ Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||
Asset Based Finance—28.0% | ||||||||||||||||||||||||||||||||
801 5th Ave, Seattle, Private Equity | (ad)(v)(w)(y) | Real Estate | 8,554,983 | $ | 14.1 | $ | 26.1 | |||||||||||||||||||||||||
801 5th Ave, Seattle, Structure Mezzanine | (ad)(v)(w) | Real Estate | 8.0%, 3.0% PIK (3.0% Max PIK) | 12/19/29 | $ | 57.2 | 55.2 | 57.2 | ||||||||||||||||||||||||
Abacus JV, Private Equity | (v)(w) | Insurance | 50,032,107 | 49.0 | 56.6 | |||||||||||||||||||||||||||
Accelerator Investments Aggregator LP, Private Equity | (v)(w)(y) | Diversified Financials | 5,397,365 | 6.3 | 5.1 | |||||||||||||||||||||||||||
Altavair AirFinance, Private Equity | (v)(w) | Capital Goods | 106,337,301 | 107.2 | 130.5 | |||||||||||||||||||||||||||
Australis Maritime, Common Stock | (v)(w) | Transportation | 47,142,727 | 45.4 | 47.2 | |||||||||||||||||||||||||||
Avenue One PropCo, Private Equity | (ad)(v)(w)(y) | Real Estate | 12,639,630 | 12.6 | 12.6 | |||||||||||||||||||||||||||
Avida Holding AB, Common Stock | (ad)(v)(w)(y) | Diversified Financials | 405,023,756 | 44.6 | 48.4 | |||||||||||||||||||||||||||
Byrider Finance LLC, Structured Mezzanine | (v) | Automobiles & Components | L+1,050 | 0.3% | 6/3/28 | $ | 9.4 | 9.4 | 9.4 | |||||||||||||||||||||||
Byrider Finance LLC, Structured Mezzanine | (x) | Automobiles & Components | L+1,050 | 0.3% | 6/3/28 | $ | 13.6 | 13.6 | 13.6 | |||||||||||||||||||||||
Callodine Commercial Finance LLC, 2L Term Loan A | (v) | Diversified Financials | L+900 | 1.0% | 11/3/25 | $ | 125.0 | 118.3 | 125.7 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c)/ Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||
Callodine Commercial Finance LLC, 2L Term Loan B | (x) | Diversified Financials | L+900 | 1.0% | 11/3/25 | $ | 40.3 | $ | 40.3 | $ | 40.6 | |||||||||||||||
Capital Automotive LP, Private Equity | (v)(w) | Real Estate | 21,640,936 | 23.7 | 28.9 | |||||||||||||||||||||
Capital Automotive LP, Structured Mezzanine | (v)(w) | Real Estate | 11.0% | 12/22/28 | $ | 42.7 | 41.8 | 42.7 | ||||||||||||||||||
Global Jet Capital LLC, Preferred Stock | (j)(u)(v)(y) | Commercial & Professional Services | 149,494,590 | 69.4 | — | |||||||||||||||||||||
Global Jet Capital LLC, Preferred Stock | (j)(u)(v) | Commercial & Professional Services | 4.5% PIK (9.0% Max PIK) | 10/1/28 | $ | 423.4 | 309.4 | 259.8 | ||||||||||||||||||
Global Jet Capital LLC, Structured Mezzanine | (j)(u)(v)(w) | Commercial & Professional Services | 15.0% PIK (15.0% Max PIK) | 12/4/25 | $ | 43.2 | 30.8 | 43.2 | ||||||||||||||||||
Global Jet Capital LLC, Structured Mezzanine | (j)(u)(v)(w) | Commercial & Professional Services | 15.0% PIK (15.0% Max PIK) | 12/9/25 | $ | 31.6 | 21.8 | 31.6 | ||||||||||||||||||
Global Jet Capital LLC, Structured Mezzanine | (j)(u)(v)(w) | Commercial & Professional Services | 15.0% PIK (15.0% Max PIK) | 1/29/26 | $ | 3.7 | 2.5 | 3.7 | ||||||||||||||||||
Global Lending Services LLC, Private Equity | (v)(w) | Diversified Financials | 11,860,951 | 13.7 | 14.5 | |||||||||||||||||||||
Global Lending Services LLC, Private Equity | (v)(w)(y) | Diversified Financials | 7,242,670 | 7.2 | 9.5 | |||||||||||||||||||||
Home Partners JV 2, Private Equity | (ac)(v)(w)(y) | Real Estate | 2,398,355 | 2.3 | 2.6 | |||||||||||||||||||||
Home Partners JV 2, Private Equity | (ac)(v)(w)(y) | Real Estate | 90,490 | 0.1 | 0.1 | |||||||||||||||||||||
Home Partners JV 2, Structured Mezzanine | (ac)(v)(w) | Real Estate | 11.0% PIK (11.0% Max PIK) | 3/20/30 | $ | 5.3 | 5.2 | 5.3 | ||||||||||||||||||
Home Partners JV 2, Structured Mezzanine | (ac)(w)(x) | Real Estate | 11.0% PIK (11.0% Max PIK) | 3/20/30 | $ | 11.9 | 11.9 | 11.9 | ||||||||||||||||||
Home Partners JV, Common Stock | (ac)(v)(w) | Real Estate | 30,500,647 | 45.5 | 86.5 | |||||||||||||||||||||
Home Partners JV, Private Equity | (ac)(v)(w) | Real Estate | 3,793,000 | 5.0 | 10.2 | |||||||||||||||||||||
Home Partners JV, Structured Mezzanine | (ac)(v)(w) | Real Estate | 11.0% PIK (11.0% Max PIK) | 3/25/29 | $ | 90.3 | 85.6 | 90.3 | ||||||||||||||||||
Jet Edge International LLC, Preferred Stock | (ac)(p) | Transportation | 8.0%, 0.0% PIK (8.0% Max PIK) | $ | 20.9 | 20.9 | 30.3 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c)/ Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||
Jet Edge International LLC, Term Loan | (ac)(v) | Transportation | 10.0%, 2.0% PIK (2.0% Max PIK) | 4/2/26 | $ | 148.6 | $ | 147.9 | $ | 153.0 | ||||||||||||||||
Jet Edge International LLC, Term Loan | (ac)(x) | Transportation | 10.0%, 2.0% PIK (2.0% Max PIK) | 4/2/26 | $ | 0.7 | 0.7 | 0.7 | ||||||||||||||||||
Jet Edge International LLC, Warrant | (ac)(h)(y) | Transportation | 3,963 | — | 16.5 | |||||||||||||||||||||
Kilter Finance, Preferred Stock | (ad)(v)(w) | Insurance | 6.0%, 6.0% PIK (6.0% Max PIK) | $ | 68.6 | 67.2 | 68.6 | |||||||||||||||||||
Kilter Finance, Private Equity | (ad)(v)(w)(y) | Insurance | 536,709 | 0.5 | 0.5 | |||||||||||||||||||||
KKR Central Park Leasing Aggregator L.P., Partnership Interest | (v)(w)(y)(z) | Capital Goods | 14.3% | 5/31/23 | $ | 39.1 | 39.1 | 19.6 | ||||||||||||||||||
KKR Rocket Loans Aggregator LLC, Partnership Interest | (ad)(v)(w) | Diversified Financials | 1,824,177 | 1.8 | 1.9 | |||||||||||||||||||||
KKR Zeno Aggregator LP (K2 Aviation), Partnership Interest | (v)(w)(y) | Capital Goods | 23,664,954 | 23.0 | 20.0 | |||||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (v)(w) | Technology Hardware & Equipment | 7.8% | 9/22/24 | € | 7.8 | 9.2 | 8.7 | ||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (v)(w) | Technology Hardware & Equipment | 7.8% | 9/22/24 | $ | 12.1 | 12.1 | 12.1 | ||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (v)(w) | Technology Hardware & Equipment | 11.8% | 9/22/24 | € | 5.9 | 6.9 | 6.5 | ||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (v)(w) | Technology Hardware & Equipment | 11.8% | 9/22/24 | £ | 1.6 | 2.2 | 2.1 | ||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (v)(w) | Technology Hardware & Equipment | 7.8% | 9/22/24 | £ | 2.1 | 2.9 | 2.8 | ||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (v)(w) | Technology Hardware & Equipment | 11.8% | 9/22/24 | $ | 9.1 | 9.1 | 9.1 | ||||||||||||||||||
Luxembourg Life Fund—Absolute Return Fund II, Structured Mezzanine | (v)(w) | Insurance | SF+750 | 0.5% | 2/10/27 | $ | 26.7 | 26.7 | 26.4 | |||||||||||||||||
Music IP, Private Equity | (v)(w) | Media & Entertainment | 60,928,593 | 60.9 | 71.2 | |||||||||||||||||||||
My Community Homes SFR PropCo 2, Private Equity | (ad)(v)(w)(y) | Real Estate | 105,000,000 | 105.0 | 105.0 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c)/ Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||
NewStar Clarendon 2014-1A Class D | (v)(w) | Diversified Financials | 27.0% | 1/25/27 | $ | 8.3 | $ | 2.5 | $ | 4.2 | ||||||||||||||||||||
Opendoor Labs Inc, Structured Mezzanine | (v)(w) | Real Estate | 10.0% | 4/1/26 | $ | 71.1 | 71.1 | 69.8 | ||||||||||||||||||||||
Opendoor Labs Inc, Structured Mezzanine | (w)(x) | Real Estate | 10.0% | 4/1/26 | $ | 88.9 | 88.9 | 87.4 | ||||||||||||||||||||||
Pretium Partners LLC P2, Term Loan | (v)(w) | Real Estate | 11.0% | 12/16/29 | $ | 33.5 | 32.9 | 32.9 | ||||||||||||||||||||||
Prime ST LLC, Private Equity | (ad)(v)(w)(y) | Real Estate | 5,983,135 | 7.7 | 11.8 | |||||||||||||||||||||||||
Prime ST LLC, Structured Mezzanine | (ad)(v)(w) | Real Estate | 5.0%, 6.0% PIK (6.0% Max PIK) | 3/12/30 | $ | 52.4 | 50.4 | 52.4 | ||||||||||||||||||||||
Roemanu LLC (FKA Toorak Capital Partners LLC), Private Equity | (ad)(v) | Real Estate | 204,437,874 | 215.9 | 255.3 | |||||||||||||||||||||||||
Roemanu LLC (FKA Toorak Capital Partners LLC), Structured Mezzanine | (ad)(v) | Real Estate | L+650 PIK (L+650 Max PIK) | 5/11/22 | $ | 24.0 | 24.0 | 24.0 | ||||||||||||||||||||||
Roemanu LLC (FKA Toorak Capital Partners LLC), Structured Mezzanine | (ad)(x) | Real Estate | L+650 PIK (L+650 Max PIK) | 5/11/22 | $ | 6.0 | 6.0 | 6.0 | ||||||||||||||||||||||
Star Mountain Diversified Credit Income Fund III, LP, Private Equity | (o)(w) | Diversified Financials | 23,500,000 | 23.5 | 24.8 | |||||||||||||||||||||||||
Toorak Capital Funding LLC, Membership Interest | (ad)(v)(w)(y) | Real Estate | 1,723,140 | 1.9 | 1.7 | |||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||
Total Asset Based Finance | 2,252.8 | 2,339.1 | ||||||||||||||||||||||||||||
Unfunded commitments | (161.4 | ) | (161.4 | ) | ||||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||
Net Asset Based Finance | 2,091.4 | 2,177.7 | ||||||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC —19.0% | ||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC | (ad)(v)(w) | Diversified Financials | $ | 1,549.8 | 1,484.2 | 1,479.6 | ||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC | 1,484.2 | 1,479.6 | ||||||||||||||||||||||||||||
|
|
|
|
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Number of Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||
Equity/Other—17.6%(e) | ||||||||||||||||||||||||||
Abaco Energy Technologies LLC, Common Stock | (v)(y) | Energy | 3,055,556 | $ | 0.2 | $ | 0.3 | |||||||||||||||||||
Abaco Energy Technologies LLC, Preferred Stock | (v)(y) | Energy | 12,734,481 | 1.5 | 1.8 | |||||||||||||||||||||
Affordable Care Inc, Preferred Stock | (ac)(v) | Health Care Equipment & Services | 11.8% PIK (11.8% Max PIK) | 49,073,000 | 48.1 | 50.3 | ||||||||||||||||||||
American Vision Partners, Private Equity | (v)(y) | Health Care Equipment & Services | 2,450,230 | 2.5 | 2.4 | |||||||||||||||||||||
Amerivet Partners Management Inc, Preferred Stock | (v) | Health Care Equipment & Services | 11.5% PIK (11.5% Max PIK) | 12,702,290 | 12.3 | 12.3 | ||||||||||||||||||||
Amtek Global Technology Pte Ltd, Common Stock | (ad)(g)(v)(w)(y) | Automobiles & Components | 7,046,126 | — | — | |||||||||||||||||||||
Amtek Global Technology Pte Ltd, Ordinary Shares | (ad)(v)(w)(y) | Automobiles & Components | 5,735,804,056 | 30.7 | — | |||||||||||||||||||||
Amtek Global Technology Pte Ltd, Private Equity | (ad)(v)(w)(y) | Automobiles & Components | 4,097 | — | — | |||||||||||||||||||||
Angelica Corp, Limited Partnership Interest | (h)(y) | Health Care Equipment & Services | 877,044 | 47.6 | — | |||||||||||||||||||||
Arcos LLC/VA, Preferred Stock | (v) | Software & Services | L+950 PIK (L+950 Max PIK) | 1.0% | 4/30/31 | 15,000,000 | 14.0 | 14.1 | ||||||||||||||||||
Ardonagh Ltd, Ordinary Shares | (v)(w)(y) | Insurance | 16,450 | — | 2.7 | |||||||||||||||||||||
Ardonagh Ltd, Ordinary Shares | (v)(w)(y) | Insurance | 116,814 | 0.2 | 0.4 | |||||||||||||||||||||
Ardonagh Ltd, Preferred Stock | (v)(w)(y) | Insurance | 6,113,719 | 9.1 | 21.4 | |||||||||||||||||||||
Arena Energy LP, Warrants | (v)(y) | Energy | 68,186,525 | 0.4 | 0.8 | |||||||||||||||||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp, Common Stock | (p)(y) | Energy | 10,193 | 9.7 | 3.6 | |||||||||||||||||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp, Trade Claim | (p)(y) | Energy | 86,607,143 | 19.4 | 30.4 | |||||||||||||||||||||
Aspect Software Inc, Common Stock | (l)(s)(v)(y) | Software & Services | 1,309,955 | 2.3 | 2.0 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Number of Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||
Aspect Software Inc, Warrant | (l)(s)(v)(y) | Software & Services | 1/15/24 | 181,730 | $ | 0.3 | $ | 0.3 | ||||||||||||||||||
athenahealth Inc, Preferred Stock | (ac)(v) | Health Care Equipment & Services | L+1,075 PIK (L+1,075 Max PIK) | 317,493,473 | 311.2 | 313.8 | ||||||||||||||||||||
ATX Networks Corp, Common Stock | (ad)(s)(v)(w)(y) | Capital Goods | 3,483 | — | — | |||||||||||||||||||||
AVF Parent LLC, Trade Claim | (v)(y) | Retailing | 44,507 | — | — | |||||||||||||||||||||
Belk Inc, Common Stock | (ac)(v)(y) | Retailing | 94,950 | — | — | |||||||||||||||||||||
Borden (New Dairy Opco), Common Stock | (ac)(h)(n)(y) | Food, Beverage & Tobacco | 11,167,000 | 9.1 | 9.3 | |||||||||||||||||||||
Bowery Farming Inc, Warrants | (v)(y) | Food, Beverage & Tobacco | 4/30/26 | 161,828 | 0.0 | 5.2 | ||||||||||||||||||||
Catalina Marketing Corp, Common Stock | (v)(y) | Media & Entertainment | 6,522 | — | — | |||||||||||||||||||||
CDS US Intermediate Holdings Inc, Warrant | (aa)(v)(w)(y) | Media & Entertainment | 2,023,714 | — | 5.9 | |||||||||||||||||||||
Cengage Learning, Inc, Common Stock | (v)(y) | Media & Entertainment | 227,802 | 7.5 | 4.4 | |||||||||||||||||||||
Cimarron Energy Inc, Common Stock | (v)(y) | Energy | 4,302,293 | — | — | |||||||||||||||||||||
Cimarron Energy Inc, Participation Option | (v)(y) | Energy | 25,000,000 | — | — | |||||||||||||||||||||
Constellis Holdings LLC, Private Equity | (ac)(f)(v)(y) | Capital Goods | 849,702 | 10.3 | — | |||||||||||||||||||||
CTI Foods Holding Co LLC, Common Stock | (v)(y) | Food, Beverage & Tobacco | 5,892 | 0.7 | — | |||||||||||||||||||||
Cubic Corp, Preferred Stock | (v) | Software & Services | 11.0% PIK (11.0% Max PIK) | 42,141,600 | 39.6 | 41.8 | ||||||||||||||||||||
Envigo Laboratories Inc, Series A Warrant | (s)(y) | Health Care Equipment & Services | 4/29/24 | 10,924 | — | — | ||||||||||||||||||||
Envigo Laboratories Inc, Series B Warrant | (s)(y) | Health Care Equipment & Services | 4/29/24 | 17,515 | — | — |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Number of Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||
Fairway Group Holdings Corp, Common Stock | (ac)(v)(y) | Food & Staples Retailing | 103,091 | $ | — | $ | — | |||||||||||||||||||
Fox Head Inc, Common Stock | (j)(v)(y) | Consumer Durables & Apparel | 10,000,000 | 8.0 | 11.4 | |||||||||||||||||||||
Fronton BV, Common Stock | (ac)(o)(y) | Consumer Services | 14,943 | — | 1.2 | |||||||||||||||||||||
Galaxy Universal LLC, Common Stock | (v)(y) | Consumer Durables & Apparel | 228,806 | 35.5 | 37.8 | |||||||||||||||||||||
Galaxy Universal LLC, Trade Claim | (v)(y) | Consumer Durables & Apparel | 7,701,195 | 4.6 | 1.6 | |||||||||||||||||||||
Genesys Telecommunications Laboratories Inc, Class A Shares | (v)(y) | Technology Hardware & Equipment | 40,529 | — | — | |||||||||||||||||||||
Genesys Telecommunications Laboratories Inc, Ordinary Shares | (v)(y) | Technology Hardware & Equipment | 41,339 | — | — | |||||||||||||||||||||
Genesys Telecommunications Laboratories Inc, Preferred Stock | (v)(y) | Technology Hardware & Equipment | 1,050,465 | — | — | |||||||||||||||||||||
Harvey Industries Inc, Common Stock | (v) | Capital Goods | 5,000,000 | 2.2 | 4.3 | |||||||||||||||||||||
Hilding Anders, Class A Common Stock | (ad)(v)(w)(y) | Consumer Durables & Apparel | 4,503,411 | 0.1 | — | |||||||||||||||||||||
Hilding Anders, Class B Common Stock | (ad)(v)(w)(y) | Consumer Durables & Apparel | 574,791 | 0.0 | — | |||||||||||||||||||||
Hilding Anders, Class C Common Stock | (ad)(v)(w)(y) | Consumer Durables & Apparel | 213,201 | — | — | |||||||||||||||||||||
Hilding Anders, Equity Options | (ad)(v)(w)(y) | Consumer Durables & Apparel | 11/30/25 | 236,160,807 | 15.0 | — | ||||||||||||||||||||
HM Dunn Co Inc, Preferred Stock, Series A | (ad)(s)(v)(y) | Capital Goods | 85,385 | 7.1 | 10.1 | |||||||||||||||||||||
HM Dunn Co Inc, Preferred Stock, Series B | (ad)(s)(v)(y) | Capital Goods | 15,000 | — | — | |||||||||||||||||||||
Imagine Communications Corp, Common Stock | (v)(y) | Media & Entertainment | 33,034 | 3.8 | 2.5 | |||||||||||||||||||||
Jones Apparel Holdings, Inc., Common Stock | (v)(y) | Consumer Durables & Apparel | 5,451 | 0.9 | — | |||||||||||||||||||||
JW Aluminum Co, Common Stock | (ad)(j)(u)(v)(y) | Materials | 2,105 | 0.0 | — |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Number of Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||
JW Aluminum Co, Preferred Stock | (ad)(j)(u)(v) | Materials | 6.25% PIK (12.5% Max PIK) | 2/15/28 | 15,279 | $ | 186.6 | $ | 125.1 | |||||||||||||||||
Maverick Natural Resources LLC, Common Stock | (n)(o)(y) | Energy | 259,211 | 84.5 | 189.3 | |||||||||||||||||||||
MB Precision Holdings LLC, Class A - 2 Units | (n)(o)(y) | Capital Goods | 8,081,288 | 0.5 | — | |||||||||||||||||||||
Med-Metrix, Common Stock | (h)(y) | Software & Services | 29,403 | 1.5 | 1.9 | |||||||||||||||||||||
Med-Metrix, Preferred Stock | (h) | Software & Services | 8.0% PIK (8.0% Max PIK) | 29,403 | 1.5 | 1.5 | ||||||||||||||||||||
Miami Beach Medical Group LLC, Common Stock | (v)(y) | Health Care Equipment & Services | 5,000,000 | 4.8 | 3.4 | |||||||||||||||||||||
Misys Ltd, Preferred Stock | (v)(w) | Software & Services | L+1,025 PIK (L+1,025 Max PIK) | 58,757,865 | 54.7 | 58.3 | ||||||||||||||||||||
NBG Home, Common Stock | (v)(y) | Consumer Durables & Apparel | 1,903 | 2.6 | — | |||||||||||||||||||||
Nine West Holdings Inc, Common Stock | (v)(y) | Consumer Durables & Apparel | 5,451 | 6.5 | — | |||||||||||||||||||||
One Call Care Management Inc, Common Stock | (ad)(v)(y) | Health Care Equipment & Services | 34,872 | 2.1 | 2.3 | |||||||||||||||||||||
One Call Care Management Inc, Preferred Stock A | (ad)(v)(y) | Health Care Equipment & Services | 371,992 | 22.8 | 25.0 | |||||||||||||||||||||
One Call Care Management Inc, Preferred Stock B | (ad)(v) | Health Care Equipment & Services | 9.0% PIK (9.0% Max PIK) | 10/25/29 | 7,672,347 | 8.0 | 7.7 | |||||||||||||||||||
Petroplex Acidizing Inc, Preferred Stock A | (ac)(v)(y) | Energy | 25,265,357 | 4.9 | — | |||||||||||||||||||||
Petroplex Acidizing Inc, Warrant | (ac)(v)(y) | Energy | 12/15/26 | 8 | — | — | ||||||||||||||||||||
Polyconcept North America Inc, Class A - 1 Units | (v)(y) | Household & Personal Products | 30,000 | 3.0 | 4.3 | |||||||||||||||||||||
PRG III LLC, Preferred Stock, Series A PIK | (ad)(v)(y) | Media & Entertainment | 8/21/24 | 434,250 | 18.1 | 14.8 | ||||||||||||||||||||
PRG III LLC, Preferred Stock, Series B PIK | (ad)(v)(y) | Media & Entertainment | 8/21/24 | 140 | — | — | ||||||||||||||||||||
Proserv Acquisition LLC, Class A Common Units | (ac)(v)(w)(y) | Energy | 2,635,005 | 33.5 | 1.0 | |||||||||||||||||||||
Proserv Acquisition LLC, Class A Preferred Units | (ac)(v)(w)(y) | Energy | 837,780 | 5.4 | 9.5 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Number of Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||
Quorum Health Corp, Trade Claim | (v)(y) | Health Care Equipment & Services | 8,301,000 | $ | 0.7 | $ | 0.8 | |||||||||||||||||||||||
Quorum Health Corp, Trust Initial Funding Units | (v)(y) | Health Care Equipment & Services | 143,400 | 0.2 | 0.2 | |||||||||||||||||||||||||
Ridgeback Resources Inc, Common Stock | (j)(u)(v)(w)(y) | Energy | 1,969,418 | 9.1 | 11.8 | |||||||||||||||||||||||||
Sequel Youth & Family Services LLC, Class R Common Stock | (v)(y) | Health Care Equipment & Services | 900,000 | — | — | |||||||||||||||||||||||||
Sequel Youth & Family Services LLC, NP-1 Common Stock | (v)(y) | Health Care Equipment & Services | 1,000,000 | 4.0 | 0.7 | |||||||||||||||||||||||||
Sorenson Communications LLC, Common Stock | (ac)(j)(u)(v)(y) | Telecommunication Services | 89,959 | 42.5 | 68.4 | |||||||||||||||||||||||||
Sound United LLC, Common Stock | (ad)(v) | Consumer Durables & Apparel | 12,857,143 | 17.3 | 167.8 | |||||||||||||||||||||||||
Stuart Weitzman Inc, Common Stock | (v)(y) | Consumer Durables & Apparel | 5,451 | — | — | |||||||||||||||||||||||||
Sungard Availability Services Capital Inc, Common Stock | (ac)(s)(u)(v)(y) | Software & Services | 262,516 | 6.9 | — | |||||||||||||||||||||||||
Swift Worldwide Resources Holdco Ltd, Common Stock | (v)(y) | Energy | 1,250,000 | 1.2 | 0.9 | |||||||||||||||||||||||||
ThermaSys Corp, Common Stock | (ac)(u)(v)(y) | Capital Goods | 17,383,026 | 10.2 | — | |||||||||||||||||||||||||
ThermaSys Corp, Preferred Stock | (ac)(v)(y) | Capital Goods | 1,529 | 1.7 | — | |||||||||||||||||||||||||
Versatile Processing Group Inc, | (u)(y) | Materials | 3,637,500 | 3.6 | — | |||||||||||||||||||||||||
Warren Resources Inc, Common Stock | (ad)(v)(y) | Energy | 3,483,788 | 12.8 | 29.6 | |||||||||||||||||||||||||
Worldwise Inc, Class A Private Equity | (v)(y) | Household & Personal Products | 30,000 | 1.5 | 1.5 | |||||||||||||||||||||||||
Worldwise Inc, Class B Private Equity | (v)(y) | Household & Personal Products | 30,000 | 1.5 | 1.5 | |||||||||||||||||||||||||
Zeta Interactive Holdings Corp, Common Stock | (aa)(v)(y) | Software & Services | 3,610,212 | 30.8 | 46.0 | |||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||
Total Equity/Other | 1,238.9 | 1,365.4 | ||||||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||
TOTAL INVESTMENTS—213.1% | $ | 16,483.2 | 16,554.0 | |||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
LIABILITIES IN EXCESS OF OTHER ASSETS—(113.1%) | $ | (8,787.0 | ) | |||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
NET ASSETS—100% | $ | 7,767.0 | ||||||||||||||||||||||||||||
|
|
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Foreign currency forward contracts
Foreign Currency | Settlement Date | Counterparty | Amount and Transaction | US$ Value at Settlement Date | US$ Value at March 31, 2022 | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||
AUD | 10/17/2022 | JP Morgan Chase Bank | A$ | 3.0 Sold | $ | 2.1 | $ | 2.3 | $ | (0.2 | ) | |||||||||||||||
AUD | 2/14/2023 | JP Morgan Chase Bank | A$ | 2.2 Sold | 1.6 | 1.6 | 0.0 | |||||||||||||||||||
CAD | 6/7/2022 | JP Morgan Chase Bank | C$ | 1.4 Sold | 1.1 | 1.1 | 0.0 | |||||||||||||||||||
CAD | 6/7/2022 | JP Morgan Chase Bank | C$ | 1.9 Sold | 1.5 | 1.5 | 0.0 | |||||||||||||||||||
CAD | 11/10/2022 | JP Morgan Chase Bank | C$ | 1.5 Sold | 1.2 | 1.2 | 0.0 | |||||||||||||||||||
CAD | 11/15/2024 | JP Morgan Chase Bank | C$ | 4.0 Sold | 3.2 | 3.2 | 0.0 | |||||||||||||||||||
EUR | 5/6/2022 | JP Morgan Chase Bank | € | 6.1 Sold | 7.5 | 6.8 | 0.7 | |||||||||||||||||||
EUR | 5/6/2022 | JP Morgan Chase Bank | € | 1.6 Sold | 2.0 | 1.8 | 0.2 | |||||||||||||||||||
EUR | 5/6/2022 | JP Morgan Chase Bank | € | 0.7 Sold | 0.9 | 0.8 | 0.1 | |||||||||||||||||||
EUR | 5/6/2022 | JP Morgan Chase Bank | € | 2.2 Sold | 2.7 | 2.4 | 0.3 | |||||||||||||||||||
EUR | 5/6/2022 | JP Morgan Chase Bank | € | 0.9 Sold | 1.2 | 1.1 | 0.1 | |||||||||||||||||||
EUR | 9/12/2022 | JP Morgan Chase Bank | € | 10.0 Sold | 11.7 | 11.2 | 0.5 | |||||||||||||||||||
EUR | 7/17/2023 | JP Morgan Chase Bank | € | 1.3 Sold | 1.7 | 1.5 | 0.2 | |||||||||||||||||||
EUR | 2/23/2024 | JP Morgan Chase Bank | € | 42.3 Sold | 49.1 | 48.8 | 0.3 | |||||||||||||||||||
EUR | 8/8/2025 | JP Morgan Chase Bank | € | 4.8 Sold | 5.7 | 5.6 | 0.1 | |||||||||||||||||||
EUR | 8/8/2025 | JP Morgan Chase Bank | € | 1.9 Sold | 2.3 | 2.3 | 0.0 | |||||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 1.9 Sold | 2.9 | 2.5 | 0.4 | |||||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 1.7 Sold | 2.6 | 2.3 | 0.3 | |||||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 3.4 Sold | 4.8 | 4.5 | 0.3 | |||||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 5.0 Sold | 6.6 | 6.4 | 0.2 | |||||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 1.4 Sold | 1.9 | 1.8 | 0.1 | |||||||||||||||||||
GBP | 10/13/2023 | JP Morgan Chase Bank | £ | 6.2 Sold | 8.5 | 8.2 | 0.3 | |||||||||||||||||||
NOK | 8/8/2025 | JP Morgan Chase Bank | NOK | 49.1 Sold | 5.2 | 5.6 | (0.4 | ) | ||||||||||||||||||
NOK | 8/8/2025 | JP Morgan Chase Bank | NOK | 11.4 Sold | 1.2 | 1.3 | (0.1 | ) | ||||||||||||||||||
SEK | 5/10/2024 | JP Morgan Chase Bank | SEK | 503.0 Sold | 60.1 | 55.2 | 4.9 | |||||||||||||||||||
SEK | 5/10/2024 | JP Morgan Chase Bank | SEK | 34.5 Sold | 4.1 | 3.8 | 0.3 | |||||||||||||||||||
SEK | 5/10/2024 | JP Morgan Chase Bank | SEK | 68.0 Sold | 8.1 | 7.5 | 0.6 | |||||||||||||||||||
SEK | 8/8/2025 | JP Morgan Chase Bank | SEK | 119.3 Sold | 13.3 | 13.1 | 0.2 | |||||||||||||||||||
SEK | 8/8/2025 | JP Morgan Chase Bank | SEK | 27.8 Sold | 3.1 | 3.1 | 0.0 | |||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||
Total | $ | 217.9 | $ | 208.5 | $ | 9.4 | ||||||||||||||||||||
|
|
|
|
|
|
|
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
|
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|
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|
|
|
|
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|
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|
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|
|
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
|
|
|
|
|
|
Portfolio Company | Fair Value at December 31, 2021 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at March 31, 2022 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend Income(3) | ||||||||||||||||||||||||||||||
Senior Secured Loans—First Lien |
| |||||||||||||||||||||||||||||||||||||||
Affordable Care Inc | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||
Affordable Care Inc | 59.9 | — | (21.0 | ) | — | (0.1 | ) | 38.8 | 1.0 | — | — | — | ||||||||||||||||||||||||||||
athenahealth Inc | — | 6.8 | — | — | — | 6.8 | — | — | 0.2 | — | ||||||||||||||||||||||||||||||
Belk Inc | 49.2 | 1.5 | (0.3 | ) | (0.2 | ) | (5.9 | ) | 44.3 | 2.2 | 1.3 | — | — | |||||||||||||||||||||||||||
Belk Inc | 21.9 | 0.1 | — | — | (0.2 | ) | 21.8 | 0.5 | — | — | — | |||||||||||||||||||||||||||||
Borden (New Dairy Opco) | 9.0 | — | (9.0 | ) | 0.6 | (0.6 | ) | — | 0.1 | — | 0.3 | — | ||||||||||||||||||||||||||||
Borden (New Dairy Opco) | 42.0 | 0.1 | (42.0 | ) | 1.7 | (1.8 | ) | — | 0.9 | — | 1.3 | — | ||||||||||||||||||||||||||||
Borden Dairy Co | — | — | — | (25.4 | ) | 25.4 | — | — | — | — | — | |||||||||||||||||||||||||||||
Constellis Holdings LLC | 15.0 | 0.1 | — | — | (0.1 | ) | 15.0 | 0.4 | — | — | — | |||||||||||||||||||||||||||||
Fairway Group Holdings Corp | 0.7 | — | — | — | (0.7 | ) | — | — | — | — | — | |||||||||||||||||||||||||||||
Fairway Group Holdings Corp | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Micronics Filtration Holdings LLC | 51.0 | 5.7 | (51.7 | ) | — | (5.0 | ) | — | 0.2 | 0.3 | — | — | ||||||||||||||||||||||||||||
Petroplex Acidizing Inc | 9.7 | — | (0.1 | ) | — | 2.6 | 12.2 | — | — | — | — | |||||||||||||||||||||||||||||
Sorenson Communications LLC | 60.1 | 0.2 | (1.5 | ) | 0.1 | (0.4 | ) | 58.5 | 1.1 | — | — | — | ||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc | 6.0 | 0.1 | — | — | (0.8 | ) | 5.3 | — | 0.1 | — | — | |||||||||||||||||||||||||||||
ThermaSys Corp | 3.5 | — | — | — | 0.2 | 3.7 | — | — | — | — |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company | Fair Value at December 31, 2021 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at March 31, 2022 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend Income(3) | ||||||||||||||||||||||||||||||
Senior Secured Loans—Second Lien |
| |||||||||||||||||||||||||||||||||||||||
Belk Inc | $ | 6.7 | $ | — | $ | — | $ | — | $ | (1.4 | ) | $ | 5.3 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||
Constellis Holdings LLC | 12.0 | 0.1 | — | — | (2.6 | ) | 9.5 | 0.5 | — | — | — | |||||||||||||||||||||||||||||
Fairway Group Holdings Corp | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc | 8.3 | — | (0.2 | ) | — | (5.6 | ) | 2.5 | — | — | — | — | ||||||||||||||||||||||||||||
Subordinated Debt | ||||||||||||||||||||||||||||||||||||||||
athenahealth Inc | — | 5.5 | — | — | (0.1 | ) | 5.4 | — | — | — | — | |||||||||||||||||||||||||||||
Asset Based Finance | ||||||||||||||||||||||||||||||||||||||||
Home Partners JV, Structured Mezzanine | 90.4 | 2.5 | (2.5 | ) | — | (0.1 | ) | 90.3 | — | 2.5 | — | — | ||||||||||||||||||||||||||||
Home Partners JV, Private Equity | 9.4 | — | (0.3 | ) | (0.1 | ) | 1.2 | 10.2 | — | — | — | 0.7 | ||||||||||||||||||||||||||||
Home Partners JV, Common Stock | 80.6 | 0.1 | (2.2 | ) | — | 8.0 | 86.5 | — | — | — | 4.3 | |||||||||||||||||||||||||||||
Home Partners JV 2, Structured Mezzanine | 3.5 | 1.8 | — | — | — | 5.3 | — | 0.1 | — | — | ||||||||||||||||||||||||||||||
Home Partners JV 2, Private Equity | 0.1 | — | — | — | — | 0.1 | — | — | — | — | ||||||||||||||||||||||||||||||
Home Partners JV 2, Private Equity | 1.6 | 0.8 | — | — | 0.2 | 2.6 | — | — | — | — | ||||||||||||||||||||||||||||||
Jet Edge International LLC, Preferred Stock | 16.8 | — | — | — | 13.5 | 30.3 | 0.4 | — | — | — | ||||||||||||||||||||||||||||||
Jet Edge International LLC, Warrant | 4.5 | — | — | — | 12.0 | 16.5 | — | — | — | — | ||||||||||||||||||||||||||||||
Jet Edge International LLC, Term Loan | 75.6 | 74.9 | (2.9 | ) | — | 5.4 | 153.0 | 2.7 | 0.5 | 0.1 | — | |||||||||||||||||||||||||||||
Orchard Marine Limited, Class B Common Stock | — | — | — | (3.1 | ) | 3.1 | — | — | — | — | — | |||||||||||||||||||||||||||||
Orchard Marine Limited, Series A Preferred Stock | 64.6 | — | (65.4 | ) | 3.4 | (2.6 | ) | — | — | — | — | — |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company | Fair Value at December 31, 2021 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at March 31, 2022 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend Income(3) | ||||||||||||||||||||||||||||||
Equity/Other | ||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc, Preferred Stock | $ | 52.1 | $ | — | $ | — | $ | — | $ | (1.8 | ) | $ | 50.3 | $ | — | $ | 1.4 | $ | — | $ | — | |||||||||||||||||||
athenahealth Inc, Preferred Stock | — | 311.2 | — | — | 2.6 | 313.8 | — | 4.3 | — | — | ||||||||||||||||||||||||||||||
Belk Inc, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Borden (New Dairy Opco), Common Stock | 7.7 | — | — | — | 1.6 | 9.3 | — | — | — | — | ||||||||||||||||||||||||||||||
Constellis Holdings LLC, Private Equity | 0.2 | — | — | — | (0.2 | ) | — | — | — | — | — | |||||||||||||||||||||||||||||
Fairway Group Holdings Corp, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Fronton BV, Common Stock | 1.4 | — | — | — | (0.2 | ) | 1.2 | — | — | — | — | |||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Common Stock | — | — | (0.1 | ) | (0.5 | ) | 0.6 | — | — | — | — | — | ||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series A | 0.1 | — | — | (0.6 | ) | 0.5 | — | — | — | — | — | |||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series B | 0.4 | — | (0.4 | ) | 0.2 | (0.2 | ) | — | — | — | — | — | ||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series B PIK | 11.9 | — | (11.9 | ) | 11.9 | (11.9 | ) | — | — | — | — | — | ||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series C PIK | 6.2 | — | (6.2 | ) | 6.2 | (6.2 | ) | — | — | — | — | — | ||||||||||||||||||||||||||||
Petroplex Acidizing Inc, Preferred Stock A | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Petroplex Acidizing Inc, Warrant | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Proserv Acquisition LLC, Class A Common Units | 0.1 | 0.1 | — | — | 0.8 | 1.0 | — | — | — | — |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company | Fair Value at December 31, 2021 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at March 31, 2022 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend Income(3) | ||||||||||||||||||||||||||||||
Proserv Acquisition LLC, Class A Preferred Units | $ | 9.3 | $ | — | $ | — | $ | — | $ | 0.2 | $ | 9.5 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||
Sorenson Communications LLC, Common Stock | 67.5 | — | — | — | 0.9 | 68.4 | — | — | — | — | ||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
ThermaSys Corp, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
ThermaSys Corp, Preferred Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
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| |||||||||||||||||||||
Total | $ | 859.0 | $ | 411.6 | $ | (217.7 | ) | $ | (5.8 | ) | $ | 30.3 | $ | 1,077.4 | $ | 10.0 | $ | 10.5 | $ | 1.9 | $ | 5.0 |
|
|
|
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
|
Portfolio Company | Fair Value at December 31, 2021 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at March 31, 2022 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend Income(3) | ||||||||||||||||||||||||||||||
Senior Secured Loans—First Lien |
| |||||||||||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd | $ | 34.8 | $ | — | $ | — | $ | — | $ | (4.8 | ) | $ | 30.0 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||
ATX Networks Corp | 46.8 | 0.4 | (0.6 | ) | — | — | 46.6 | — | 1.0 | — | — | |||||||||||||||||||||||||||||
HM Dunn Co Inc | 33.6 | 0.7 | (0.3 | ) | — | — | 34.0 | — | 0.6 | — | — | |||||||||||||||||||||||||||||
HM Dunn Co Inc | 2.0 | — | (2.0 | ) | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||
One Call Care Management Inc | 5.0 | — | — | — | (0.3 | ) | 4.7 | 0.1 | — | — | — | |||||||||||||||||||||||||||||
Production Resource Group LLC | 133.3 | 4.1 | — | — | (0.6 | ) | 136.8 | 1.6 | 2.2 | — | — | |||||||||||||||||||||||||||||
Production Resource Group LLC | 0.1 | — | — | — | — | 0.1 | — | — | — | — | ||||||||||||||||||||||||||||||
Production Resource Group LLC | 64.4 | 27.2 | (0.2 | ) | — | (0.2 | ) | 91.2 | 1.6 | 0.7 | 0.3 | — | ||||||||||||||||||||||||||||
Production Resource Group LLC | 20.2 | — | (20.1 | ) | — | (0.1 | ) | — | — | — | — | — | ||||||||||||||||||||||||||||
Warren Resources Inc | 18.7 | 0.1 | (0.2 | ) | — | (0.1 | ) | 18.5 | 0.6 | — | — | — | ||||||||||||||||||||||||||||
Senior Secured Loans—Second Lien |
| |||||||||||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd | — | — | (0.1 | ) | — | 0.1 | — | — | — | — | — | |||||||||||||||||||||||||||||
Other Senior Secured Debt |
| |||||||||||||||||||||||||||||||||||||||
JW Aluminum Co | 81.0 | 0.1 | — | — | (1.0 | ) | 80.1 | 2.0 | — | — | — | |||||||||||||||||||||||||||||
One Call Care Management Inc | 23.5 | 0.1 | — | — | (2.4 | ) | 21.2 | 0.1 | 0.5 | — | — | |||||||||||||||||||||||||||||
Subordinated Debt | ||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp | 7.1 | — | — | — | 5.7 | 12.8 | — | — | — | — | ||||||||||||||||||||||||||||||
Hilding Anders | 46.6 | — | — | — | (46.6 | ) | — | — | — | — | — | |||||||||||||||||||||||||||||
Hilding Anders | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Hilding Anders | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Asset Based Finance | ||||||||||||||||||||||||||||||||||||||||
801 5th Ave, Seattle, Structure Mezzanine | 57.2 | 0.1 | — | — | (0.1 | ) | 57.2 | 1.2 | 0.4 | — | — | |||||||||||||||||||||||||||||
801 5th Ave, Seattle, Private Equity | 23.1 | — | — | — | 3.0 | 26.1 | — | — | — | — | ||||||||||||||||||||||||||||||
Avenue One PropCo, Private Equity | — | 12.6 | — | — | — | 12.6 | — | — | — | — |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company | Fair Value at December 31, 2021 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at March 31, 2022 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend Income(3) | ||||||||||||||||||||||||||||||
Avida Holding AB, Common Stock | $ | 52.3 | $ | — | $ | — | $ | — | $ | (3.9 | ) | $ | 48.4 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||
Kilter Finance, Preferred Stock | 36.1 | 32.6 | — | — | (0.1 | ) | 68.6 | 1.4 | 0.9 | — | — | |||||||||||||||||||||||||||||
Kilter Finance, Private Equity | 0.5 | — | — | — | — | 0.5 | — | — | — | — | ||||||||||||||||||||||||||||||
KKR Rocket Loans Aggregator LLC, Partnership Interest | 1.4 | 0.4 | — | — | 0.1 | 1.9 | — | — | — | 0.2 | ||||||||||||||||||||||||||||||
My Community Homes SFR PropCo 2, Private Equity | 33.0 | 157.0 | (85.0 | ) | — | — | 105.0 | — | — | — | — | |||||||||||||||||||||||||||||
Prime St LLC, Private Equity | 9.1 | — | — | — | 2.7 | 11.8 | — | — | — | — | ||||||||||||||||||||||||||||||
Prime St LLC, Structured Mezzanine | 52.4 | — | — | — | — | 52.4 | 0.7 | 0.8 | — | — | ||||||||||||||||||||||||||||||
Toorak Capital Funding LLC, Membership Interest | 1.7 | — | — | — | — | 1.7 | — | — | — | — | ||||||||||||||||||||||||||||||
Roemanu LLC (FKA Toorak Capital Partners LLC), Private Equity | 199.3 | 57.8 | — | — | (1.8 | ) | 255.3 | — | — | — | 3.9 | |||||||||||||||||||||||||||||
Roemanu LLC (FKA Toorak Capital Partners LLC), Structured Mezzanine | 22.0 | 22.0 | (20.0 | ) | — | — | 24.0 | — | 0.4 | — | — | |||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC | ||||||||||||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC | 1,396.2 | 87.5 | — | — | (4.1 | ) | 1,479.6 | — | — | — | 46.2 | |||||||||||||||||||||||||||||
Equity/Other | ||||||||||||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd, Ordinary Shares | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd, Private Equity | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
ATX Networks Corp, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Hilding Anders, Class A Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Hilding Anders, Class B Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Hilding Anders, Class C Common Stock | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||
Hilding Anders, Equity Options | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
HM Dunn Co Inc, Preferred Stock, Series A | 7.1 | — | — | — | 3.0 | 10.1 | — | — | — | — | ||||||||||||||||||||||||||||||
HM Dunn Co Inc, Preferred Stock, Series B | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
JW Aluminum Co, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
JW Aluminum Co, Preferred Stock | 122.6 | 8.8 | (0.1 | ) | — | (6.2 | ) | 125.1 | 0.3 | 6.5 | — | — | ||||||||||||||||||||||||||||
One Call Care Management Inc, Common Stock | 2.4 | — | — | — | (0.1 | ) | 2.3 | — | — | — | — | |||||||||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock A | 26.1 | — | — | — | (1.1 | ) | 25.0 | — | — | — | — |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Unaudited Consolidated Schedule of Investments (continued)
As of March 31, 2022
(in millions, except share amounts)
Portfolio Company | Fair Value at December 31, 2021 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at March 31, 2022 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend Income(3) | ||||||||||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock B | $ | 9.2 | $ | — | $ | — | $ | — | $ | (1.5 | ) | $ | 7.7 | $ | — | $ | 0.2 | $ | — | $ | — | |||||||||||||||||||
PRG III LLC, Preferred Stock, Series A PIK | 17.4 | — | — | — | (2.6 | ) | 14.8 | — | — | — | — | |||||||||||||||||||||||||||||
PRG III LLC, Preferred Stock, Series B PIK | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Sound United LLC, Common Stock | 77.5 | — | — | — | 90.3 | 167.8 | — | — | — | — | ||||||||||||||||||||||||||||||
Warren Resources Inc, Common Stock | 20.4 | — | — | — | 9.2 | 29.6 | — | — | — | — | ||||||||||||||||||||||||||||||
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Total | $ | 2,684.1 | $ | 411.5 | $ | (128.6 | ) | $ | — | $ | 36.5 | $ | 3,003.5 | $ | 9.6 | $ | 14.2 | $ | 0.3 | $ | 50.3 | |||||||||||||||||||
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See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||
Senior Secured Loans—First Lien—126.3% | ||||||||||||||||||||||||||||||||
3Pillar Global Inc | (i)(k)(l) | Software & Services | L+600 | 0.8% | 11/23/27 | $ | 96.3 | $ | 95.3 | $ | 95.3 | |||||||||||||||||||||
3Pillar Global Inc | (x) | Software & Services | L+600 | 0.8% | 11/23/26 | 9.2 | 9.2 | 9.1 | ||||||||||||||||||||||||
3Pillar Global Inc | (x) | Software & Services | L+600 | 0.8% | 11/23/27 | 30.6 | 30.6 | 30.2 | ||||||||||||||||||||||||
5 Arch Income Fund 2 LLC | (q)(r)(w)(y)(z) | Diversified Financials | 9.0% | 11/18/23 | 111.1 | 81.3 | 78.3 | |||||||||||||||||||||||||
Accuride Corp | (aa)(l) | Capital Goods | L+525 | 1.0% | 11/17/23 | 9.0 | 8.1 | 8.7 | ||||||||||||||||||||||||
Advanced Dermatology & Cosmetic Surgery | (m)(t)(v) | Health Care Equipment & Services | L+625 | 1.0% | 5/7/27 | 44.8 | 42.9 | 45.0 | ||||||||||||||||||||||||
Advanced Dermatology & Cosmetic Surgery | (x) | Health Care Equipment & Services | L+625 | 1.0% | 5/7/26 | 3.6 | 3.6 | 3.6 | ||||||||||||||||||||||||
Advanced Dermatology & Cosmetic Surgery | (x) | Health Care Equipment & Services | L+625 | 1.0% | 5/7/27 | 4.2 | 4.2 | 4.2 | ||||||||||||||||||||||||
Advania Sverige AB | (v)(w) | Software & Services | SR+610, 0.0% PIK (3.3% Max PIK) | 0.0% | 4/28/28 | SEK | 629.4 | 67.9 | 68.9 | |||||||||||||||||||||||
Advania Sverige AB | (v)(w) | Software & Services | R+610, 0.0% PIK (3.3% Max PIK) | 0.0% | 4/28/28 | ISK | 1,345.8 | 10.0 | 10.3 | |||||||||||||||||||||||
Advania Sverige AB | (w)(x) | Software & Services | SR+610, 0.0% PIK (3.3% Max PIK) | 0.0% | 4/28/28 | SEK | 304.1 | 37.5 | 37.2 | |||||||||||||||||||||||
Affordable Care Inc | (ac)(v) | Health Care Equipment & Services | L+550, 0.0% PIK (1.3% Max PIK) | 0.8% | 8/2/28 | $ | 60.4 | 59.9 | 60.1 | |||||||||||||||||||||||
Affordable Care Inc | (ac)(x) | Health Care Equipment & Services | L+550, 0.0% PIK (1.3% Max PIK) | 0.8% | 8/2/27 | 12.8 | 12.8 | 12.8 | ||||||||||||||||||||||||
Affordable Care Inc | (ac)(x) | Health Care Equipment & Services | L+550, 0.0% PIK (1.3% Max PIK) | 0.8% | 8/2/28 | 43.1 | 43.1 | 42.9 | ||||||||||||||||||||||||
Alacrity Solutions Group LLC | (v) | Insurance | L+525 | 0.8% | 12/22/27 | 1.1 | 0.9 | 1.1 | ||||||||||||||||||||||||
Alacrity Solutions Group LLC | (v) | Insurance | L+525 | 0.8% | 12/22/28 | 69.2 | 68.2 | 68.2 | ||||||||||||||||||||||||
Alacrity Solutions Group LLC | (x) | Insurance | L+525 | 0.8% | 12/22/27 | 9.7 | 9.7 | 9.5 | ||||||||||||||||||||||||
Alera Group Intermediate Holdings Inc | (v) | Insurance | L+550 | 0.8% | 10/2/28 | 21.4 | 21.2 | 21.2 | ||||||||||||||||||||||||
Alera Group Intermediate Holdings Inc | (x) | Insurance | L+550 | 0.8% | 10/2/28 | 22.9 | 22.9 | 22.7 | ||||||||||||||||||||||||
American Vision Partners | (i)(v) | Health Care Equipment & Services | L+575 | 0.8% | 9/30/27 | 94.7 | 93.8 | 94.3 | ||||||||||||||||||||||||
American Vision Partners | (x) | Health Care Equipment & Services | L+575 | 0.8% | 9/30/26 | 7.8 | 7.8 | 7.7 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||
American Vision Partners | (x) | Health Care Equipment & Services | L+575 | 0.8% | 9/30/27 | $ | 38.9 | $ | 38.9 | $ | 38.7 | |||||||||||
Amtek Global Technology Pte Ltd | (ad)(v)(w)(y)(z) | Automobiles & Components | E+500 PIK (E+500 Max PIK) | 0.0% | 4/4/24 | € | 57.2 | 68.7 | 34.8 | |||||||||||||
Arcos LLC/VA | (m) | Software & Services | L+575 | 1.0% | 3/31/28 | $ | 12.5 | 12.3 | 12.4 | |||||||||||||
Arcos LLC/VA | (x) | Software & Services | L+575 | 1.0% | 4/20/27 | 4.5 | 4.5 | 4.5 | ||||||||||||||
Ardonagh Group Ltd | (v)(w) | Insurance | SA+675 | 0.8% | 7/14/26 | £ | 0.8 | 1.0 | 1.1 | |||||||||||||
Ardonagh Group Ltd | (v)(w) | Insurance | L+550 | 0.8% | 7/14/26 | $ | 14.1 | 13.8 | 13.9 | |||||||||||||
Ardonagh Group Ltd | (w)(x) | Insurance | L+550 | 1.0% | 7/14/26 | £ | 16.7 | 22.8 | 22.1 | |||||||||||||
Arrotex Australia Group Pty Ltd | (v)(w) | Pharmaceuticals, Biotechnology & Life Sciences | B+525 | 1.0% | 7/10/24 | A$ | 42.6 | | 30.4 | 30.9 | ||||||||||||
Arrotex Australia Group Pty Ltd | (v)(w) | Pharmaceuticals, Biotechnology & Life Sciences | B+525 | 1.0% | 7/10/24 | 3.1 | 2.2 | 2.3 | ||||||||||||||
Aspect Software Inc | (v) | Software & Services | 8.0% PIK (8.0% Max PIK) | 7/14/22 | 0.3 | 0.2 | 0.3 | |||||||||||||||
ATX Networks Corp | (ad)(s)(v)(w) | Capital Goods | 7.5% PIK (7.5% Max PIK) | 1.0% | 8/9/26 | 46.8 | 46.8 | 46.8 | ||||||||||||||
AxiomSL Ltd | (f)(m)(t)(v) | Software & Services | L+600 | 1.0% | 12/3/27 | 35.1 | 34.4 | 34.4 | ||||||||||||||
AxiomSL Ltd | (x) | Software & Services | L+600 | 1.0% | 12/3/25 | 2.5 | 2.4 | 2.4 | ||||||||||||||
AxiomSL Ltd | (x) | Software & Services | L+600 | 1.0% | 12/3/27 | 2.3 | 2.3 | 2.2 | ||||||||||||||
Barbri Inc | (f)(k)(l)(m)(t)(v) | Consumer Services | L+575 | 0.8% | 4/28/28 | 92.4 | 88.1 | 92.4 | ||||||||||||||
Barbri Inc | (k)(l) | Consumer Services | L+575 | 0.8% | 4/30/28 | 35.1 | 34.8 | 34.8 | ||||||||||||||
Barbri Inc | (x) | Consumer Services | L+575 | 0.8% | 4/30/28 | 14.8 | 14.8 | 14.6 | ||||||||||||||
Belk Inc | (aa)(ac)(v) | Retailing | L+750 | 1.0% | 7/31/25 | 21.9 | 21.7 | 21.9 | ||||||||||||||
Belk Inc | (aa)(ac)(v) | Retailing | 5.0%, 8.0% PIK (8.0% Max PIK) | 7/31/25 | 66.7 | 40.2 | 49.2 | |||||||||||||||
BGB Group LLC | (f)(i)(k)(l)(m)(t)(v) | Media & Entertainment | L+575 | 1.0% | 8/16/27 | 118.6 | 117.5 | 118.0 | ||||||||||||||
BGB Group LLC | (x) | Media & Entertainment | L+575 | 1.0% | 8/16/27 | 19.9 | 19.9 | 19.8 | ||||||||||||||
Borden (New Dairy Opco) | (ac)(v) | Food, Beverage & Tobacco | L+700, 0.0% PIK (1.0% Max PIK) | 1.0% | 7/20/25 | 42.0 | 40.2 | 42.0 | ||||||||||||||
Borden (New Dairy Opco) | (ac)(v) | Food, Beverage & Tobacco | L+250 | 1.0% | 7/20/25 | 9.0 | 8.4 | 9.0 | ||||||||||||||
Borden Dairy Co | (ac)(v)(y)(z) | Food, Beverage & Tobacco | L+825 | 1.0% | 7/6/23 | 65.0 | 25.4 | — | ||||||||||||||
Bowery Farming Inc | (v) | Food, Beverage & Tobacco | L+1,000 | 1.0% | 4/30/26 | 75.0 | 74.3 | 69.3 | ||||||||||||||
Cimarron Energy Inc | (v)(y)(z) | Energy | L+900 | 1.0% | 12/31/24 | 7.5 | 5.5 | 3.6 | ||||||||||||||
Clarience Technologies LLC | (f)(i)(k)(m)(s)(v) | Capital Goods | L+625 | 1.0% | 12/14/26 | 268.0 | 257.2 | 270.7 | ||||||||||||||
Clarience Technologies LLC | (v) | Capital Goods | L+625 | 1.0% | 12/31/26 | 18.1 | 17.6 | 18.4 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||
Clarience Technologies LLC | (x) | Capital Goods | L+625 | 1.0% | 12/13/24 | $ | 25.4 | $ | 25.2 | $ | 25.4 | |||||||||||
Clarience Technologies LLC | (x) | Capital Goods | L+625 | 1.0% | 12/31/26 | 10.8 | 10.8 | 11.1 | ||||||||||||||
Constellis Holdings LLC | (ac)(v) | Capital Goods | L+750 | 1.0% | 3/27/24 | 15.0 | 14.0 | 15.0 | ||||||||||||||
Corsearch Intermediate Inc | (m)(v) | Software & Services | L+550 | 1.0% | 4/19/28 | 30.1 | 28.3 | 30.1 | ||||||||||||||
Corsearch Intermediate Inc | (x) | Software & Services | L+550 | 1.0% | 4/19/28 | 4.4 | 4.4 | 4.4 | ||||||||||||||
CSafe Global | (f)(i)(k)(l)(m)(t)(v) | Capital Goods | L+625 | 0.8% | 12/23/27 | 188.7 | 182.5 | 188.7 | ||||||||||||||
CSafe Global | (v) | Capital Goods | L+625 | 0.8% | 12/23/27 | £ | 27.4 | 36.3 | 37.1 | |||||||||||||
CSafe Global | (v) | Capital Goods | L+625 | 0.8% | 8/13/28 | $ | 11.9 | 11.9 | 11.9 | |||||||||||||
CSafe Global | (x) | Capital Goods | L+625 | 0.8% | 12/23/26 | 34.9 | 34.9 | 34.6 | ||||||||||||||
Dental Care Alliance Inc | (f)(k)(m)(t)(v) | Health Care Equipment & Services | L+625 | 0.8% | 3/12/27 | 90.3 | 86.1 | 90.4 | ||||||||||||||
Dental Care Alliance Inc | (v) | Health Care Equipment & Services | L+625 | 0.8% | 3/12/27 | 8.7 | 8.7 | 8.7 | ||||||||||||||
Dental Care Alliance Inc | (x) | Health Care Equipment & Services | L+625 | 0.8% | 3/12/27 | 13.6 | 13.6 | 13.7 | ||||||||||||||
Element Materials Technology Group US Holdings Inc | (aa)(v)(w) | Capital Goods | L+350 | 1.0% | 6/28/24 | 1.9 | 1.9 | 1.9 | ||||||||||||||
Encora Digital Inc | (v) | Software & Services | L+550, 0.0% PIK (2.4% Max PIK) | 0.5% | 12/13/28 | 81.3 | 79.7 | 79.7 | ||||||||||||||
Encora Digital Inc | (x) | Software & Services | L+550 | 0.5% | 12/13/28 | 19.6 | 19.4 | 19.2 | ||||||||||||||
Entertainment Benefits Group LLC | (v) | Media & Entertainment | L+575, 2.5% PIK (2.5% Max PIK) | 1.0% | 9/30/24 | 0.4 | 0.4 | 0.4 | ||||||||||||||
Entertainment Benefits Group LLC | (f)(k)(l)(m)(v) | Media & Entertainment | L+575, 2.5% PIK (2.5% Max PIK) | 1.0% | 9/30/25 | 64.0 | 59.1 | 61.7 | ||||||||||||||
Entertainment Benefits Group LLC | (x) | Media & Entertainment | L+575, 2.5% PIK (2.5% Max PIK) | 1.0% | 9/30/24 | 10.2 | 9.6 | 9.9 | ||||||||||||||
Fairway Group Holdings Corp | (ac)(v)(y)(z) | Food & Staples Retailing | 12.0% PIK (12.0% Max PIK) | 11/27/23 | 11.7 | 1.0 | 0.7 | |||||||||||||||
Fairway Group Holdings Corp | (ac)(v)(y)(z) | Food & Staples Retailing | 10.0% PIK (10.0% Max PIK) | 11/28/23 | 7.6 | — | — | |||||||||||||||
Follett Software Co | (f)(k)(l)(t) | Software & Services | L+575 | 0.8% | 8/31/28 | 74.4 | 73.7 | 74.1 | ||||||||||||||
Follett Software Co | (x) | Software & Services | L+575 | 0.8% | 8/31/27 | 9.9 | 9.9 | 9.8 | ||||||||||||||
Foundation Consumer Brands LLC | (m)(v) | Pharmaceuticals, Biotechnology & Life Sciences | L+638 | 1.0% | 2/12/27 | 97.1 | 93.0 | 98.0 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||
Foundation Consumer Brands LLC | (x) | Pharmaceuticals, Biotechnology & Life Sciences | L+638 | 1.0% | 2/12/27 | $ | 6.6 | $ | 6.6 | $ | 6.6 | |||||||||||
Foundation Risk Partners Corp | (v) | Insurance | L+575 | 0.8% | 10/29/28 | 74.3 | 73.2 | 73.3 | ||||||||||||||
Foundation Risk Partners Corp | (x) | Insurance | L+575 | 0.8% | 10/29/27 | 7.0 | 6.9 | 6.9 | ||||||||||||||
Foundation Risk Partners Corp | (x) | Insurance | L+575 | 0.8% | 10/29/28 | 6.2 | 6.2 | 6.1 | ||||||||||||||
Frontline Technologies Group LLC | (i)(m)(v) | Software & Services | L+525 | 1.0% | 9/18/23 | 78.7 | 78.1 | 78.7 | ||||||||||||||
Frontline Technologies Group LLC | (s)(v) | Software & Services | L+525 | 1.0% | 9/18/23 | 75.6 | 71.7 | 76.2 | ||||||||||||||
Galaxy Universal LLC | (v) | Consumer Durables & Apparel | L+575 | 1.0% | 11/1/26 | 88.9 | 88.9 | 88.9 | ||||||||||||||
Galaxy Universal LLC | (v) | Consumer Durables & Apparel | 5.0% | 2/4/22 | 0.9 | 0.9 | 0.9 | |||||||||||||||
Galaxy Universal LLC | (x) | Consumer Durables & Apparel | 5.0% | 2/4/22 | 7.7 | 7.7 | 7.7 | |||||||||||||||
Galway Partners Holdings LLC | (k)(l)(t)(v) | Insurance | L+525, 0.0% PIK (1.3% Max PIK) | 0.8% | 9/29/28 | 128.1 | 125.5 | 126.0 | ||||||||||||||
Galway Partners Holdings LLC | (x) | Insurance | L+525, 0.0% PIK (1.3% Max PIK) | 0.8% | 9/30/27 | 12.0 | 11.7 | 11.8 | ||||||||||||||
Galway Partners Holdings LLC | (x) | Insurance | L+525, 0.0% PIK (1.3% Max PIK) | 0.8% | 9/29/28 | 22.4 | 22.4 | 22.0 | ||||||||||||||
General Datatech LP | (f)(k)(l)(m)(t)(v) | Software & Services | L+625 | 1.0% | 6/18/27 | 169.1 | 167.5 | 166.5 | ||||||||||||||
Greystone Equity Member Corp | (v)(w) | Diversified Financials | L+725 | 3.8% | 4/1/26 | 194.8 | 182.7 | 192.6 | ||||||||||||||
Heniff Transportation Systems LLC | (v) | Transportation | L+575 | 1.0% | 12/3/24 | 5.9 | 5.6 | 5.6 | ||||||||||||||
Heniff Transportation Systems LLC | (f)(i)(k)(l)(m)(v) | Transportation | L+575 | 1.0% | 12/3/26 | 137.7 | 130.5 | 128.7 | ||||||||||||||
Heniff Transportation Systems LLC | (v) | Transportation | L+625 | 1.0% | 12/3/26 | 19.4 | 18.6 | 18.5 | ||||||||||||||
Heniff Transportation Systems LLC | (x) | Transportation | L+575 | 1.0% | 12/3/24 | 11.9 | 11.9 | 11.1 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||
hibu Inc | (f)(k)(l)(m)(t)(v) | Commercial & Professional Services | L+625 | 1.0% | 5/4/27 | $ | 101.6 | $ | 96.6 | $ | 104.6 | |||||||||||
Higginbotham Insurance Agency Inc | (v) | Insurance | L+550 | 0.8% | 11/25/26 | 25.3 | 24.6 | 25.8 | ||||||||||||||
Higginbotham Insurance Agency Inc | (v) | Insurance | L+525 | 0.8% | 11/25/26 | 4.5 | 4.3 | 4.6 | ||||||||||||||
Higginbotham Insurance Agency Inc | (x) | Insurance | L+525 | 0.8% | 11/25/26 | 32.6 | 32.6 | 33.3 | ||||||||||||||
HM Dunn Co Inc | (ad)(v) | Capital Goods | L+600 | 1.0% | 6/30/26 | 33.6 | 33.6 | 33.6 | ||||||||||||||
HM Dunn Co Inc | (ad)(v) | Capital Goods | L+600 | 1.0% | 6/30/26 | 2.0 | 2.0 | 2.0 | ||||||||||||||
Hudson Technologies Co | (v)(w) | Commercial & Professional Services | L+1,025 | 1.0% | 10/10/23 | 79.9 | 72.3 | 82.1 | ||||||||||||||
Individual FoodService | (v) | Capital Goods | L+625 | 1.0% | 11/22/24 | 0.2 | 0.2 | 0.2 | ||||||||||||||
Individual FoodService | (m)(s)(v) | Capital Goods | L+625 | 1.0% | 11/22/25 | 90.8 | 86.5 | 91.7 | ||||||||||||||
Individual FoodService | (x) | Capital Goods | L+625 | 1.0% | 11/22/24 | 4.5 | 4.5 | 4.5 | ||||||||||||||
Individual FoodService | (x) | Capital Goods | L+625 | 0.0% | 11/22/25 | 5.6 | 5.6 | 5.7 | ||||||||||||||
Industria Chimica Emiliana Srl | (v)(w) | Pharmaceuticals, Biotechnology & Life Sciences | E+725 | 0.0% | 9/27/26 | € | 88.8 | 101.3 | 103.9 | |||||||||||||
Industry City TI Lessor LP | (s)(v) | Consumer Services | 10.8%, 1.0% PIK (1.0% Max PIK) | 6/30/26 | $ | 29.9 | 30.0 | 32.5 | ||||||||||||||
Insight Global LLC | (v) | Commercial & Professional Services | L+600 | 0.8% | 9/22/27 | 10.5 | 10.5 | 10.4 | ||||||||||||||
Insight Global LLC | (i)(v) | Commercial & Professional Services | L+600 | 0.8% | 9/22/28 | 230.0 | 227.8 | 227.2 | ||||||||||||||
Insight Global LLC | (x) | Commercial & Professional Services | L+600 | 0.8% | 9/22/27 | 10.5 | 10.5 | 10.4 | ||||||||||||||
Insight Global LLC | (x) | Commercial & Professional Services | L+600 | 0.8% | 11/15/28 | 20.0 | 20.0 | 19.8 | ||||||||||||||
Integrity Marketing Group LLC | (x) | Insurance | L+550 | 0.8% | 8/27/25 | 145.3 | 145.3 | 143.2 | ||||||||||||||
J S Held LLC | (f)(i)(m)(s)(v) | Insurance | L+550 | 1.0% | 7/1/25 | 165.4 | 159.8 | 167.1 | ||||||||||||||
J S Held LLC | (v) | Insurance | L+550 | 1.0% | 7/1/25 | 2.8 | 2.6 | 2.8 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||
J S Held LLC | (x) | Insurance | L+550 | 1.0% | 7/1/25 | $ | 16.7 | $ | 16.7 | $ | 16.9 | |||||||||||
J S Held LLC | (x) | Insurance | L+550 | 1.0% | 7/1/25 | 11.3 | 11.3 | 11.3 | ||||||||||||||
Jarrow Formulas Inc | (f)(i)(k)(l)(m)(s)(t)(v) | Household & Personal Products | L+625 | 1.0% | 11/30/26 | 186.6 | 177.1 | 190.3 | ||||||||||||||
Karman Space Inc | (m)(v) | Capital Goods | L+675 | 1.0% | 12/21/25 | 92.4 | 88.8 | 94.2 | ||||||||||||||
Karman Space Inc | (v) | Capital Goods | L+675 | 1.0% | 12/21/25 | 4.4 | 4.2 | 4.4 | ||||||||||||||
Karman Space Inc | (x) | Capital Goods | L+675 | 1.0% | 12/21/25 | 1.1 | 1.1 | 1.1 | ||||||||||||||
KBP Investments LLC | (v) | Food & Staples Retailing | L+500 | 0.8% | 5/26/27 | 23.6 | 22.9 | 23.3 | ||||||||||||||
KBP Investments LLC | (x) | Food & Staples Retailing | L+500 | 0.8% | 5/26/27 | 3.9 | 3.9 | 3.8 | ||||||||||||||
Kellermeyer Bergensons Services LLC | (f)(i)(k)(l)(m)(s)(t)(v) | Commercial & Professional Services | L+575 | 1.0% | 11/7/26 | 341.7 | 329.6 | 342.8 | ||||||||||||||
Kellermeyer Bergensons Services LLC | (x) | Commercial & Professional Services | L+575 | 1.0% | 11/7/26 | 31.0 | 31.0 | 31.1 | ||||||||||||||
Lakefield Veterinary Group | (f)(i)(v) | Consumer Services | L+550 | 0.8% | 11/23/28 | 115.6 | 114.5 | 114.6 | ||||||||||||||
Lakefield Veterinary Group | (x) | Consumer Services | L+550 | 0.8% | 11/23/28 | 56.3 | 56.3 | 55.7 | ||||||||||||||
Lakeview Farms Inc | (l)(m)(v) | Food, Beverage & Tobacco | L+625 | 1.0% | 6/10/27 | 77.0 | 75.1 | 76.5 | ||||||||||||||
Lakeview Farms Inc | (v) | Food, Beverage & Tobacco | L+625 | 1.0% | 6/10/27 | 3.4 | 3.4 | 3.4 | ||||||||||||||
Lakeview Farms Inc | (x) | Food, Beverage & Tobacco | L+625 | 1.0% | 6/10/27 | 10.8 | 10.8 | 10.8 | ||||||||||||||
Lakeview Farms Inc | (x) | Food, Beverage & Tobacco | L+625 | 1.0% | 6/10/27 | 3.4 | 3.4 | 3.4 | ||||||||||||||
Lexitas Inc | (i)(k)(l)(m)(v) | Commercial & Professional Services | L+600 | 1.0% | 11/14/25 | 106.8 | 103.3 | 107.8 | ||||||||||||||
Lexitas Inc | (x) | Commercial & Professional Services | L+600 | 1.0% | 11/14/25 | 10.3 | 10.3 | 10.4 | ||||||||||||||
Lexitas Inc | (x) | Commercial & Professional Services | L+600 | 1.0% | 11/14/25 | 5.4 | 5.4 | 5.4 | ||||||||||||||
Lionbridge Technologies Inc | (f)(k)(s)(t) | Consumer Services | L+700 | 1.0% | 12/29/25 | 68.9 | 64.0 | 70.3 | ||||||||||||||
Lipari Foods LLC | (f)(m)(s)(v) | Food & Staples Retailing | L+575 | 1.0% | 1/6/25 | 272.0 | 261.2 | 272.0 | ||||||||||||||
Lloyd’s Register Quality Assurance Ltd | (w)(x) | Consumer Services | SA+600, 0.0% PIK (6.3% Max PIK) | 0.0% | 12/2/28 | £ | 15.0 | 20.0 | 19.7 | |||||||||||||
Matchesfashion Ltd | (v)(w) | Consumer Durables & Apparel | L+463, 3.0% PIK (3.0% Max PIK) | 0.0% | 10/11/24 | $ | 12.9 | 12.4 | 8.2 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||
MB2 Dental Solutions LLC | (k)(l)(m)(t)(v) | Health Care Equipment & Services | L+600 | 1.0% | 1/29/27 | $ | 231.0 | $ | 220.3 | $ | 231.7 | |||||||||||
MB2 Dental Solutions LLC | (x) | Health Care Equipment & Services | L+600 | 1.0% | 1/29/27 | 56.7 | 56.7 | 56.9 | ||||||||||||||
Medallia Inc | (v) | Software & Services | L+675 PIK (L+675 Max PIK) | 0.8% | 10/29/28 | 147.9 | 146.5 | 146.5 | ||||||||||||||
Med-Metrix | (v) | Software & Services | L+600 | 1.0% | 9/15/27 | 62.4 | 61.8 | 61.9 | ||||||||||||||
Med-Metrix | (x) | Software & Services | L+600 | 1.0% | 9/15/27 | 31.3 | 31.3 | 31.0 | ||||||||||||||
Med-Metrix | (x) | Software & Services | L+600 | 1.0% | 9/15/27 | 7.8 | 7.8 | 7.8 | ||||||||||||||
Miami Beach Medical Group LLC | (k)(l)(m)(t)(v) | Health Care Equipment & Services | L+650 | 1.0% | 12/14/26 | 180.6 | 171.4 | 178.6 | ||||||||||||||
Micronics Filtration Holdings Inc | (ac)(v) | Capital Goods | 7.5% PIK (7.5% Max PIK) | 3/29/24 | 51.4 | 46.0 | 51.0 | |||||||||||||||
Monitronics International Inc | (aa)(f)(v) | Commercial & Professional Services | L+650 | 1.3% | 3/29/24 | 18.8 | 17.2 | 17.7 | ||||||||||||||
Monitronics International Inc | (v) | Commercial & Professional Services | L+500 | 1.5% | 7/3/24 | 47.3 | 44.8 | 45.1 | ||||||||||||||
Monitronics International Inc | (x) | Commercial & Professional Services | L+500 | 1.5% | 7/3/24 | 22.7 | 22.7 | 21.6 | ||||||||||||||
Motion Recruitment Partners LLC | (v) | Commercial & Professional Services | L+650 | 1.0% | 12/19/25 | 4.8 | 4.5 | 4.7 | ||||||||||||||
Motion Recruitment Partners LLC | (f)(i)(m)(t)(v) | Commercial & Professional Services | L+650 | 1.0% | 12/22/25 | 119.9 | 115.5 | 118.4 | ||||||||||||||
Motion Recruitment Partners LLC | (x) | Commercial & Professional Services | L+650 | 1.0% | 12/19/25 | 59.6 | 59.6 | 58.9 | ||||||||||||||
NBG Home | (v) | Consumer Durables & Apparel | L+550 | 1.0% | 4/26/24 | 67.7 | 67.6 | 53.3 | ||||||||||||||
NCI Inc | (v) | Software & Services | L+750, 0.0% PIK (2.5% Max PIK) | 1.0% | 8/15/24 | 78.8 | 77.7 | 72.0 | ||||||||||||||
Net Documents | (v) | Software & Services | L+650 | 1.0% | 6/30/27 | 24.6 | 24.4 | 24.3 | ||||||||||||||
Net Documents | (v) | Software & Services | L+675 | 1.0% | 6/30/27 | 0.9 | 0.9 | 0.9 | ||||||||||||||
Net Documents | (x) | Software & Services | L+675 | 1.0% | 6/30/27 | 2.1 | 2.1 | 2.0 | ||||||||||||||
Net Documents | (x) | Software & Services | L+675 | 1.0% | 6/30/27 | 7.4 | 7.3 | 7.3 | ||||||||||||||
New Era Technology Inc | (i)(l)(m)(t)(v) | Software & Services | L+625 | 1.0% | 10/31/26 | 82.5 | 78.6 | 82.1 | ||||||||||||||
New Era Technology Inc | (v) | Software & Services | L+625 | 1.0% | 10/31/26 | 1.6 | 1.5 | 1.6 | ||||||||||||||
New Era Technology Inc | (x) | Software & Services | L+625 | 1.0% | 10/31/26 | 13.8 | 13.8 | 13.7 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||
New Era Technology Inc | (x) | Software & Services | L+625 | 1.0% | 10/31/26 | $ | 3.1 | $ | 3.1 | $ | 3.1 | |||||||||||||||
Omnimax International Inc | (f)(i)(k)(l)(m)(v) | Capital Goods | L+725 | 1.0% | 10/8/26 | 218.5 | 209.2 | 217.0 | ||||||||||||||||||
One Call Care Management Inc | (aa)(ad)(v) | Health Care Equipment & Services | L+550 | 0.8% | 4/22/27 | 5.0 | 4.7 | 5.0 | ||||||||||||||||||
Oxford Global Resources LLC | (f)(k)(l)(m)(t) | Commercial & Professional Services | L+600 | 1.0% | 8/17/27 | 88.4 | 87.6 | 88.2 | ||||||||||||||||||
Oxford Global Resources LLC | (v) | Commercial & Professional Services | L+600 | 1.0% | 8/17/27 | 4.0 | 4.0 | 4.0 | ||||||||||||||||||
Oxford Global Resources LLC | (x) | Commercial & Professional Services | L+600 | 1.0% | 8/17/27 | 15.3 | 15.3 | 15.3 | ||||||||||||||||||
Oxford Global Resources LLC | (x) | Commercial & Professional Services | L+600 | 1.0% | 8/17/27 | 3.7 | 3.7 | 3.7 | ||||||||||||||||||
P2 Energy Solutions Inc. | (v) | Software & Services | L+675 | 1.0% | 1/31/25 | 4.6 | 4.3 | 4.2 | ||||||||||||||||||
P2 Energy Solutions Inc. | (f)(i)(k)(m)(s)(t)(v) | Software & Services | L+675 | 1.0% | 2/2/26 | 249.1 | 232.7 | 232.0 | ||||||||||||||||||
P2 Energy Solutions Inc. | (x) | Software & Services | L+675 | 1.0% | 1/31/25 | 10.6 | 10.6 | 9.9 | ||||||||||||||||||
Parata Systems | (f)(m)(v) | Health Care Equipment & Services | L+575 | 1.0% | 6/30/27 | 73.9 | 73.4 | 74.1 | ||||||||||||||||||
Parata Systems | (x) | Health Care Equipment & Services | L+575 | 1.0% | 6/30/27 | 22.0 | 22.0 | 22.1 | ||||||||||||||||||
Parata Systems | (x) | Health Care Equipment & Services | L+575 | 1.0% | 6/30/27 | 5.5 | 5.5 | 5.5 | ||||||||||||||||||
Parts Town LLC | (v) | Retailing | L+550 | 0.8% | 11/1/28 | 87.4 | 86.6 | 86.6 | ||||||||||||||||||
Parts Town LLC | (x) | Retailing | L+550 | 0.8 | % | 11/1/28 | 63.9 | 63.9 | 63.3 | |||||||||||||||||
PartsSource Inc | (v) | Health Care Equipment & Services | L+575 | 0.8 | % | 8/23/28 | 65.8 | 65.0 | 64.7 | |||||||||||||||||
PartsSource Inc | (x) | Health Care Equipment & Services | L+575 | 0.8 | % | 8/24/26 | 4.3 | 4.2 | 4.2 | |||||||||||||||||
PartsSource Inc | (x) | Health Care Equipment & Services | L+575 | 0.8 | % | 8/23/28 | 22.9 | 22.6 | 22.5 | |||||||||||||||||
Peraton Corp | (aa)(v) | Capital Goods | L+375 | 0.8 | % | 2/1/28 | 9.0 | 8.7 | 9.0 | |||||||||||||||||
Performance Health Holdings Inc | (f)(i)(v) | Health Care Equipment & Services | L+600 | 1.0 | % | 7/12/27 | 120.7 | 119.5 | 120.2 | |||||||||||||||||
Petroplex Acidizing Inc | (ac)(v)(y)(z) | Energy | L+825, 1.8% PIK (1.8% Max PIK) | 1.0 | % | 6/30/23 | 27.0 | 22.0 | 9.7 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||
Polyconcept North America Inc | (aa)(v) | Household & Personal Products | L+450 PIK (L+450 Max PIK) | 1.0 | % | 8/16/23 | $ | 22.8 | $ | 22.6 | $ | 22.7 | ||||||||||||||
Premium Credit Ltd | (v)(w) | Diversified Financials | L+650 | 0.0 | % | 1/16/26 | £ | 55.9 | 72.6 | 75.7 | ||||||||||||||||
Production Resource Group LLC | (ad)(v) | Media & Entertainment | L+500, 3.1% PIK (3.1% Max PIK) | 1.0 | % | 8/21/24 | $ | 64.4 | 60.2 | 64.4 | ||||||||||||||||
Production Resource Group LLC | (ad)(v) | Media & Entertainment | L+300, 5.5% PIK (5.5% Max PIK) | 0.3 | % | 8/21/24 | 133.3 | 124.9 | 133.3 | |||||||||||||||||
Production Resource Group LLC | (ad)(v) | Media & Entertainment | L+550 PIK (L+550 Max PIK) | 1.0 | % | 8/21/24 | 0.1 | 0.1 | 0.1 | |||||||||||||||||
Production Resource Group LLC | (ad)(v) | Media & Entertainment | L+750, 0.0% PIK (3.1% Max PIK) | 1.0 | % | 8/21/24 | 20.2 | 20.1 | 20.2 | |||||||||||||||||
Production Resource Group LLC | (ad)(x) | Media & Entertainment | L+750, 0.0% PIK (3.1% Max PIK) | 1.0 | % | 8/21/24 | 10.1 | 10.1 | 10.1 | |||||||||||||||||
Propulsion Acquisition LLC | (f)(l)(s)(t)(v) | Capital Goods | L+700 | 1.0 | % | 7/13/24 | 60.5 | 56.8 | 61.1 | |||||||||||||||||
PSKW LLC | (i)(l)(s)(t)(v) | Health Care Equipment & Services | L+625 | 1.0 | % | 3/9/26 | 294.7 | 283.5 | 294.7 | |||||||||||||||||
Qdoba Restaurant Corp | (aa)(m)(v) | Consumer Services | L+700 | 1.0 | % | 3/21/25 | 10.9 | 10.8 | 10.8 | |||||||||||||||||
Reliant Rehab Hospital Cincinnati LLC | (f)(i)(l)(m)(s)(v) | Health Care Equipment & Services | L+625 | 0.0 | % | 2/28/26 | 126.8 | 120.7 | 124.1 | |||||||||||||||||
Revere Superior Holdings Inc | (m)(v) | Software & Services | L+575 | 1.0 | % | 9/30/26 | 23.0 | 22.4 | 23.3 | |||||||||||||||||
Revere Superior Holdings Inc | (x) | Software & Services | L+575 | 1.0 | % | 9/30/26 | 3.2 | 3.2 | 3.2 | |||||||||||||||||
Revere Superior Holdings, Inc | (v) | Software & Services | L+575 | 1.0 | % | 9/30/26 | 3.3 | 3.3 | 3.4 | |||||||||||||||||
Revere Superior Holdings, Inc | (x) | Software & Services | L+575 | 1.0 | % | 9/30/26 | 7.4 | 7.4 | 7.5 | |||||||||||||||||
Rise Baking Company | (v) | Food, Beverage & Tobacco | L+625 | 1.0 | % | 8/13/27 | 2.8 | 2.6 | 2.7 | |||||||||||||||||
Rise Baking Company | (l)(m) | Food, Beverage & Tobacco | L+625 | 1.0 | % | 8/13/27 | 28.8 | 28.1 | 28.2 | |||||||||||||||||
Rise Baking Company | (x) | Food, Beverage & Tobacco | L+625 | 1.0 | % | 8/13/27 | 2.5 | 2.5 | 2.5 | |||||||||||||||||
RSC Insurance Brokerage Inc | (f)(i)(k)(l)(m)(s)(v) | Insurance | L+550 | 0.8 | % | 10/30/26 | 277.8 | 268.1 | 280.6 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||
RSC Insurance Brokerage Inc | (v) | Insurance | L+550 | 0.8 | % | 10/30/26 | $ | 4.1 | $ | 4.0 | $ | 4.1 | ||||||||||||||
RSC Insurance Brokerage Inc | (x) | Insurance | L+550 | 0.8 | % | 10/30/26 | 16.1 | 16.1 | 16.3 | |||||||||||||||||
RSC Insurance Brokerage Inc | (x) | Insurance | L+550 | 0.8 | % | 10/30/26 | 3.6 | 3.6 | 3.6 | |||||||||||||||||
Safe-Guard Products International LLC | (f)(m)(t) | Diversified Financials | L+500 | 0.5 | % | 1/27/27 | 45.1 | 42.5 | 45.1 | |||||||||||||||||
SAMBA Safety Inc | (x) | Software & Services | L+575 | 1.0 | % | 9/1/27 | 2.4 | 2.4 | 2.4 | |||||||||||||||||
SAMBA Safety Inc | (x) | Software & Services | L+575 | 1.0 | % | 9/1/27 | 6.1 | 6.1 | 6.0 | |||||||||||||||||
SavATree LLC | (v) | Consumer Services | L+550 | 0.8 | % | 10/12/28 | 1.9 | 1.8 | 1.9 | |||||||||||||||||
SavATree LLC | (x) | Consumer Services | L+550 | 0.8 | % | 10/12/28 | 7.6 | 7.6 | 7.6 | |||||||||||||||||
SavATree LLC | (x) | Consumer Services | L+550 | 0.8 | % | 10/12/28 | 6.3 | 6.3 | 6.3 | |||||||||||||||||
Sequa Corp | (aa)(m)(v) | Capital Goods | L+675, 0.0% PIK (1.0% Max PIK) | 1.0 | % | 11/28/23 | 16.0 | 15.4 | 16.2 | |||||||||||||||||
Sequa Corp | (v) | Capital Goods | L+900, 0.0% PIK (9.5% Max PIK) | 1.0 | % | 7/31/25 | 16.4 | 16.0 | 17.2 | |||||||||||||||||
Sequel Youth & Family Services LLC | (v)(y)(z) | Health Care Equipment & Services | L+800 | 1.0 | % | 9/1/23 | 170.0 | 106.4 | 51.6 | |||||||||||||||||
Sequel Youth & Family Services LLC | (v)(y)(z) | Health Care Equipment & Services | L+700 | 1.0 | % | 9/1/23 | 29.2 | 19.3 | 8.9 | |||||||||||||||||
Sequel Youth & Family Services LLC | (v) | Health Care Equipment & Services | L+700 | 1.0 | % | 9/1/23 | 36.0 | 36.0 | 36.0 | |||||||||||||||||
Sequel Youth & Family Services LLC | (x) | Health Care Equipment & Services | L+700 | 1.0 | % | 9/1/23 | 6.0 | 6.0 | 6.0 | |||||||||||||||||
SitusAMC Holdings Corp | (k)(l)(v) | Real Estate | L+575 | 0.8 | % | 12/22/27 | 95.4 | 94.5 | 94.4 | |||||||||||||||||
Sorenson Communications LLC | (aa)(ac)(f)(k)(t)(v) | Telecommunication Services | L+550 | 0.8 | % | 3/17/26 | 59.9 | 56.9 | 60.1 | |||||||||||||||||
Source Code LLC | (k)(l)(t) | Software & Services | L+650 | 1.0 | % | 6/30/27 | 53.3 | 52.3 | 52.2 | |||||||||||||||||
Source Code LLC | (x) | Software & Services | L+650 | 1.0 | % | 6/30/27 | 15.3 | 15.0 | 15.0 | |||||||||||||||||
Spins LLC | (m)(s)(t)(v) | Software & Services | L+550 | 1.0 | % | 1/20/27 | 60.7 | 57.3 | 61.3 | |||||||||||||||||
Spins LLC | (x) | Software & Services | L+550 | 1.0 | % | 1/20/27 | 7.9 | 7.9 | 7.9 | |||||||||||||||||
Staples Canada | (v)(w) | Retailing | C+700 | 1.0 | % | 9/12/24 | C$ | 35.8 | 28.0 | 29.1 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||
Summit Interconnect Inc | (f)(k)(l)(t)(v) | Capital Goods | L+600 | 1.0 | % | 9/22/28 | $ | 107.9 | $ | 106.8 | $ | 106.9 | ||||||||||||||
Summit Interconnect Inc | (x) | Capital Goods | L+600 | 1.0 | % | 9/22/28 | 48.7 | 48.7 | 48.2 | |||||||||||||||||
Sungard Availability Services Capital Inc | (ac)(v) | Software & Services | SF+375, 3.8% PIK (3.8% Max PIK) | 1.0 | % | 7/1/24 | 5.8 | 5.7 | 6.0 | |||||||||||||||||
Sweeping Corp of America Inc | (m)(v) | Commercial & Professional Services | L+575 | 1.0 | % | 11/30/26 | 55.8 | 53.3 | 56.3 | |||||||||||||||||
Sweeping Corp of America Inc | (v) | Commercial & Professional Services | L+575 | 1.0 | % | 11/30/26 | 1.8 | 1.8 | 1.8 | |||||||||||||||||
Sweeping Corp of America Inc | (x) | Commercial & Professional Services | L+575 | 1.0 | % | 11/30/26 | 17.2 | 17.2 | 17.3 | |||||||||||||||||
Sweeping Corp of America Inc | (x) | Commercial & Professional Services | L+575 | 1.0 | % | 11/30/26 | 3.9 | 3.9 | 3.9 | |||||||||||||||||
Tangoe LLC | (f)(i)(m)(s)(v) | Software & Services | L+650 | 1.0 | % | 11/28/25 | 190.2 | 171.5 | 147.2 | |||||||||||||||||
ThermaSys Corp | (ac)(v)(y)(z) | Capital Goods | L+1,100 PIK (L+1,100 Max PIK) | 1.0 | % | 1/1/24 | 8.5 | 8.3 | 3.5 | |||||||||||||||||
ThreeSixty Group | (m)(v) | Retailing | L+500, 2.5% PIK (2.5% Max PIK) | 1.5 | % | 3/1/23 | 48.5 | 48.4 | 47.7 | |||||||||||||||||
ThreeSixty Group | (m)(v) | Retailing | L+500, 2.5% PIK (2.5% Max PIK) | 1.5 | % | 3/1/23 | 48.3 | 48.1 | 47.4 | |||||||||||||||||
Time Manufacturing Co | (v) | Capital Goods | L+650 | 0.8 | % | 12/1/27 | 45.8 | 44.8 | 44.8 | |||||||||||||||||
Time Manufacturing Co | (v) | Capital Goods | L+650 | 0.8 | % | 12/1/27 | 5.3 | 5.3 | 5.3 | |||||||||||||||||
Time Manufacturing Co | (x) | Capital Goods | L+650 | 0.8 | % | 12/1/27 | 13.7 | 13.7 | 13.6 | |||||||||||||||||
Time Manufacturing Co | (x) | Capital Goods | L+650 | 0.8 | % | 12/1/27 | 4.5 | 4.5 | 4.5 | |||||||||||||||||
Time Manufacturing Co | (x) | Capital Goods | E+650 | 0.8 | % | 12/1/27 | € | 15.0 | 17.0 | 17.2 | ||||||||||||||||
Transaction Services Group Ltd | (v)(w) | Software & Services | L+650 | 0.0 | % | 10/15/26 | £ | 13.9 | 17.7 | 18.3 | ||||||||||||||||
Transaction Services Group Ltd | (v)(w) | Software & Services | B+650 | 0.0 | % | 10/15/26 | A$ | 80.3 | 55.7 | 57.0 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||
Transaction Services Group Ltd | (v)(w) | Software & Services | L+650 | 0.0 | % | 10/15/26 | $ | 126.2 | $ | 122.2 | $ | 123.1 | ||||||||||||||||||||
Warren Resources Inc | (ad)(v) | Energy | L+900, 1.0% PIK (1.0% Max PIK) | 1.0 | % | 5/22/24 | 18.7 | 17.4 | 18.7 | |||||||||||||||||||||||
Wealth Enhancement Group LLC | (v)(w) | Diversified Financials | L+625 | 1.0 | % | 10/4/27 | 15.1 | 15.0 | 15.1 | |||||||||||||||||||||||
Wealth Enhancement Group LLC | (v)(w) | Diversified Financials | L+625 | 1.0 | % | 10/4/27 | 0.7 | 0.7 | 0.7 | |||||||||||||||||||||||
Wealth Enhancement Group LLC | (w)(x) | Diversified Financials | L+625 | 1.0 | % | 10/4/27 | 13.2 | 13.2 | 13.2 | |||||||||||||||||||||||
Wealth Enhancement Group LLC | (w)(x) | Diversified Financials | L+625 | 1.0 | % | 10/4/27 | 1.0 | 1.0 | 1.0 | |||||||||||||||||||||||
Woolpert Inc | (f)(k)(l)(m)(t)(v) | Capital Goods | L+600 | 1.0 | % | 4/5/28 | 139.2 | 132.5 | 141.2 | |||||||||||||||||||||||
Woolpert Inc | (x) | Capital Goods | L+600 | 1.0 | % | 4/5/28 | 25.6 | 25.6 | 25.9 | |||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||||
Total Senior Secured Loans—First Lien | 11,165.5 | 11,236.1 | ||||||||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||||
Unfunded Loan Commitments | (1,470.4 | ) | (1,470.4 | ) | ||||||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||||
Net Senior Secured Loans—First Lien | 9,695.1 | 9,765.7 | ||||||||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||||
Senior Secured Loans—Second Lien—20.1% | ||||||||||||||||||||||||||||||||
Advanced Lighting Technologies Inc | (v)(y)(z) | Materials | L+600 | 1.0 | % | 3/16/27 | 11.3 | 10.5 | 6.4 | |||||||||||||||||||||||
Ammeraal Beltech Holding BV | (f)(s)(v)(w) | Capital Goods | L+775 | 0.0 | % | 9/12/26 | 44.9 | 40.8 | 44.3 | |||||||||||||||||||||||
Amtek Global Technology Pte Ltd | (ad)(v)(w)(y)(z) | Automobiles & Components | E+500 PIK (E+500 Max PIK) | 0.0 | % | 4/4/24 | € | 34.7 | 39.1 | — | ||||||||||||||||||||||
Apex Group Limited | (v)(w) | Diversified Financials | L+675 | 0.5 | % | 7/27/29 | $ | 8.0 | 7.9 | 8.0 | ||||||||||||||||||||||
Belk Inc | (ac)(v)(y)(z) | Retailing | 10.0% PIK (10.0% Max PIK) | 7/31/25 | 25.5 | 4.2 | 6.7 | |||||||||||||||||||||||||
Byrider Finance LLC | (u)(v) | Automobiles & Components | L+1,000, 0.5% PIK (0.5% Max PIK) | 1.3 | % | 6/7/22 | 54.3 | 52.8 | 54.4 | |||||||||||||||||||||||
Constellis Holdings LLC | (ac)(f)(v) | Capital Goods | L+1,100, 0.0% PIK (10.0% Max PIK) | 1.0 | % | 3/27/25 | 13.5 | 12.5 | 12.0 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||
Cubic Corp | (v) | Software & Services | L+763 | 0.8 | % | 5/25/29 | $ | 54.8 | $ | 51.8 | $ | 55.6 | ||||||||||||||
Datatel Inc | (v) | Software & Services | L+800 | 1.0 | % | 10/9/28 | 179.2 | 170.1 | 184.6 | |||||||||||||||||
Fairway Group Holdings Corp | (ac)(v)(y)(z) | Food & Staples Retailing | 11.0% PIK (11.0% Max PIK) | 2/24/24 | 6.9 | — | — | |||||||||||||||||||
Galaxy Universal LLC | (v) | Consumer Durables & Apparel | L+500 | 1.0 | % | 11/1/26 | 36.2 | 35.8 | 35.8 | |||||||||||||||||
Misys Ltd | (aa)(v)(w) | Software & Services | L+725 | 1.0 | % | 6/13/25 | 21.8 | 20.5 | 21.8 | |||||||||||||||||
NBG Home | (v)(y)(z) | Consumer Durables & Apparel | L+1,275 PIK (L+1,275 Max PIK) | 1.0 | % | 9/30/24 | 31.4 | 28.2 | 8.5 | |||||||||||||||||
OEConnection LLC | (f)(v) | Software & Services | L+825 | 0.0 | % | 9/25/27 | 27.0 | 26.6 | 26.5 | |||||||||||||||||
OEConnection LLC | (v) | Software & Services | L+700 | 0.5 | % | 9/25/27 | 49.0 | 49.0 | 48.1 | |||||||||||||||||
Peraton Corp | (s)(v) | Capital Goods | L+800 | 1.0 | % | 2/1/29 | 175.0 | 165.3 | 178.5 | |||||||||||||||||
Peraton Corp | (v) | Capital Goods | L+775 | 0.8 | % | 2/1/29 | 156.4 | 149.9 | 158.7 | |||||||||||||||||
Petrochoice Holdings Inc | (v) | Capital Goods | L+875 | 1.0 | % | 8/21/23 | 65.0 | 64.4 | 57.6 | |||||||||||||||||
Polyconcept North America Inc | (v) | Household & Personal Products | 11.0% PIK (11.0% Max PIK) | 2/16/24 | 10.0 | 9.9 | 10.0 | |||||||||||||||||||
Pure Fishing Inc | (f)(m)(v) | Consumer Durables & Apparel | L+838 | 1.0 | % | 12/21/26 | 177.0 | 170.6 | 168.1 | |||||||||||||||||
Sequa Corp | (aa)(m)(v) | Capital Goods | L+1,075, 0.0% PIK (6.8% Max PIK) | 1.0 | % | 4/28/24 | 5.9 | 5.7 | 5.9 | |||||||||||||||||
SIRVA Worldwide Inc | (aa)(v) | Commercial & Professional Services | L+950 | 0.0 | % | 8/3/26 | 6.5 | 5.4 | 5.7 | |||||||||||||||||
Solera LLC | (aa)(v) | Software & Services | L+800 | 1.0 | % | 6/4/29 | 312.4 | 295.8 | 317.6 | |||||||||||||||||
Sungard Availability Services Capital Inc | (ac)(v)(y)(z) | Software & Services | SF+400, 2.8% PIK (2.8% Max PIK) | 1.0 | % | 8/1/24 | 14.6 | 13.7 | 8.3 | |||||||||||||||||
Valeo Foods Group Ltd | (v)(w) | Food, Beverage & Tobacco | SA+800 | 0.0 | % | 10/1/29 | £ | 9.3 | 12.3 | 12.2 | ||||||||||||||||
Valeo Foods Group Ltd | (w)(x) | Food, Beverage & Tobacco | E+750 | 0.0 | % | 10/1/29 | € | 6.2 | 7.2 | 6.8 | ||||||||||||||||
Vantage Specialty Chemicals Inc | (aa)(v) | Materials | L+825 | 1.0 | % | 10/27/25 | $ | 0.8 | 0.7 | 0.7 | ||||||||||||||||
Wittur Holding GmbH | (v)(w) | Capital Goods | E+850, 0.5% PIK (0.5% Max PIK) | 0.0 | % | 9/23/27 | € | 112.8 | 120.9 | 120.9 | ||||||||||||||||
|
|
|
| |||||||||||||||||||||||
Total Senior Secured Loans—Second Lien | 1,571.6 | 1,563.7 | ||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||
Unfunded Loan Commitments | (7.2 | ) | (7.2 | ) | ||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||
Net Senior Secured Loans—Second Lien | 1,564.4 | 1,556.5 | ||||||||||||||||||||||||
|
|
|
|
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||
Other Senior Secured Debt—1.6% | ||||||||||||||||||||||||||||||||
Angelica Corp | (h)(y)(z) | Health Care Equipment & Services | 10.0% PIK (10.0% Max PIK) | 12/30/22 | $ | 53.4 | $ | 42.3 | $ | 5.2 | ||||||||||||||||||||||
JW Aluminum Co | (aa)(ad)(s)(v) | Materials | 10.3% | 6/1/26 | 76.5 | 75.5 | 81.0 | |||||||||||||||||||||||||
One Call Care Management Inc | (ad)(v) | Health Care Equipment & Services | 8.5% PIK (8.5% Max PIK) | 11/1/28 | 23.5 | 21.6 | 23.5 | |||||||||||||||||||||||||
TruckPro LLC | (aa)(v) | Capital Goods | 11.0% | 10/15/24 | 9.2 | 9.2 | 10.0 | |||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||||
Total Other Senior Secured Debt | 148.6 | 119.7 | ||||||||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||||
Subordinated Debt—1.4% | ||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (aa)(v)(w) | Insurance | 12.8% PIK (12.8% Max PIK) | 1/15/27 | 0.9 | 0.9 | 1.0 | |||||||||||||||||||||||||
ATX Networks Corp | (ad)(s)(v)(w)(y)(z) | Capital Goods | 10.0% PIK (10.0% Max PIK) | 8/9/28 | 18.3 | 4.8 | 7.1 | |||||||||||||||||||||||||
ClubCorp Club Operations Inc | (aa)(v) | Consumer Services | 8.5% | 9/15/25 | 37.3 | 35.4 | 35.7 | |||||||||||||||||||||||||
Encora Digital Inc | (v) | Software & Services | 9.8% PIK (9.8% Max PIK) | 12/13/29 | 21.6 | 20.9 | 20.9 | |||||||||||||||||||||||||
Hilding Anders | (ad)(v)(w)(y) | Consumer Durables & Apparel | € | 24.8 | 26.9 | — | ||||||||||||||||||||||||||
Hilding Anders | (ad)(v)(w)(y) | Consumer Durables & Apparel | 110.5 | — | — | |||||||||||||||||||||||||||
Hilding Anders | (ad)(v)(w)(y)(z) | Consumer Durables & Apparel | 13.0% PIK (13.0% Max PIK) | 11/30/25 | 134.4 | 99.4 | 46.6 | |||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||||
Total Subordinated Debt | 188.3 | 111.3 | ||||||||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||||
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c)/ Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||
Asset Based Finance—29.1% | ||||||||||||||||||||||||||||||||
801 5th Ave, Seattle, Private Equity | (ad)(v)(w)(y) | Real Estate | 8,554,983 | $ | 14.1 | $ | 23.1 | |||||||||||||||||||||||||
801 5th Ave, Seattle, Structure Mezzanine | (ad)(v)(w) | Real Estate | | 8.0%, 3.0% PIK (3.0% Max PIK) |
| 12/19/29 | $ | 57.2 | 55.1 | 57.2 | ||||||||||||||||||||||
Abacus JV, Private Equity | (v)(w) | Insurance | 44,833,382 | 43.8 | 48.1 | |||||||||||||||||||||||||||
Accelerator Investments Aggregator LP, Private Equity | (v)(w)(y) | Diversified Financials | 5,397,365 | 6.3 | 4.7 | |||||||||||||||||||||||||||
Altavair AirFinance, Private Equity | (v)(w) | Capital Goods | 94,679,609 | 95.6 | 114.3 | |||||||||||||||||||||||||||
Australis Maritime, Common Stock | (v)(w) | Transportation | 46,781,830 | 45.1 | 46.7 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c)/ Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||
Avida Holding AB, Common Stock | (ad)(v)(w)(y) | Diversified Financials | 405,023,756 | $ | 44.6 | $ | 52.3 | |||||||||||||||||||
Bank of Ireland, Class B Credit Linked Floating Rate Note | (g)(w) | Banks | L+1,185 | 12/4/27 | $ | 14.7 | 14.7 | 14.7 | ||||||||||||||||||
Byrider Finance LLC, Structured Mezzanine | (x) | Automobiles & Components | L+1,050 | 0.3% | 6/3/28 | $ | 23.0 | 23.0 | 23.0 | |||||||||||||||||
Callodine Commercial Finance LLC, 2L Term Loan A | (v) | Diversified Financials | L+900 | 1.0% | 11/3/25 | 125.0 | 118.0 | 125.6 | ||||||||||||||||||
Callodine Commercial Finance LLC, 2L Term Loan B | (x) | Diversified Financials | L+900 | 1.0% | 11/3/25 | $ | 40.3 | 40.3 | 40.5 | |||||||||||||||||
Capital Automotive LP, Private Equity | (v)(w) | Real Estate | 21,640,936 | 23.7 | 28.1 | |||||||||||||||||||||
Capital Automotive LP, Structured Mezzanine | (v)(w) | Real Estate | 11.0% | 12/22/28 | $ | 42.7 | 41.9 | 42.7 | ||||||||||||||||||
Global Jet Capital LLC, Preferred Stock | (j)(u)(v)(y) | Commercial & Professional Services | 149,494,590 | 69.4 | — | |||||||||||||||||||||
Global Jet Capital LLC, Preferred Stock | (j)(u)(v) | Commercial & Professional Services | 9.0% PIK (9.0% Max PIK) | 10/1/28 | $ | 414.0 | 304.8 | 302.2 | ||||||||||||||||||
Global Jet Capital LLC, Structured Mezzanine | (j)(u)(v)(w) | Commercial & Professional Services | 15.0% PIK (15.0% Max PIK) | 12/4/25 | $ | 53.6 | 36.9 | 53.6 | ||||||||||||||||||
Global Jet Capital LLC, Structured Mezzanine | (j)(u)(v)(w) | Commercial & Professional Services | 15.0% PIK (15.0% Max PIK) | 12/9/25 | $ | 39.2 | 26.9 | 39.2 | ||||||||||||||||||
Global Jet Capital LLC, Structured Mezzanine | (j)(u)(v)(w) | Commercial & Professional Services | 15.0% PIK (15.0% Max PIK) | 1/29/26 | $ | 4.6 | 3.1 | 4.6 | ||||||||||||||||||
Global Lending Services LLC, Private Equity | (v)(w) | Diversified Financials | 12,222,437 | 14.2 | 15.5 | |||||||||||||||||||||
Global Lending Services LLC, Private Equity | (v)(w) | Diversified Financials | 22,352,639 | 24.2 | 28.5 | |||||||||||||||||||||
Home Partners JV 2, Private Equity | (ac)(v)(w)(y) | Real Estate | 1,585,353 | 1.5 | 1.6 | |||||||||||||||||||||
Home Partners JV 2, Private Equity | (ac)(v)(w)(y) | Real Estate | 59,815 | 0.1 | 0.1 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c)/ Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||
Home Partners JV 2, Structured Mezzanine | (ac)(v)(w) | Real Estate | 11.0% PIK (11.0% Max PIK) | 3/20/30 | $ | 3.5 | $ | 3.4 | $ | 3.5 | ||||||||||||||||
Home Partners JV 2, Structured Mezzanine | (ac)(w)(x) | Real Estate | 11.0% PIK (11.0% Max PIK) | 3/20/30 | $ | 13.6 | 13.6 | 13.6 | ||||||||||||||||||
Home Partners JV, Common Stock | (ac)(v)(w)(y) | Real Estate | 32,659,547 | 47.6 | 80.6 | |||||||||||||||||||||
Home Partners JV, Private Equity | (ac)(v)(w)(y) | Real Estate | 4,127,355 | 5.4 | 9.4 | |||||||||||||||||||||
Home Partners JV, Structured Mezzanine | (ac)(v)(w) | Real Estate | 11.0% PIK (11.0% Max PIK) | 3/25/29 | $ | 90.4 | 85.6 | 90.4 | ||||||||||||||||||
Jet Edge International LLC, Preferred Stock | (ac)(p) | Transportation | 8.0%, 0.0% PIK (8.0% Max PIK) | $ | 20,878,236.0 | 20.9 | 16.8 | |||||||||||||||||||
Jet Edge International LLC, Term Loan | (ac)(v) | Transportation | 10.0%, 2.0% PIK (2.0% Max PIK) | 4/2/26 | $ | 76.6 | 75.9 | 76.1 | ||||||||||||||||||
Jet Edge International LLC, Term Loan | (ac)(x) | Transportation | 10.0%, 2.0% PIK (2.0% Max PIK) | 4/2/26 | $ | 75.0 | 75.0 | 74.5 | ||||||||||||||||||
Jet Edge International LLC, Warrant | (ac)(h)(y) | Transportation | 3,963 | — | 4.5 | |||||||||||||||||||||
Kilter Finance, Preferred Stock | (ad)(v)(w) | Insurance | 6.0%, 6.0% PIK (6.0% Max PIK) | 36,108,611 | 34.6 | 36.1 | ||||||||||||||||||||
Kilter Finance, Private Equity | (ad)(v)(w)(y) | Insurance | 536,709 | 0.5 | 0.5 | |||||||||||||||||||||
KKR Central Park Leasing Aggregator L.P., Partnership Interest | (v)(w)(y)(z) | Capital Goods | 14.3% | 5/31/23 | $ | 39.1 | 39.1 | 25.8 | ||||||||||||||||||
KKR Chord IP Aggregator LP, Partnership Interest | (v)(w) | Media & Entertainment | 114,193,861 | 112.6 | 131.5 | |||||||||||||||||||||
KKR Chord IP Aggregator LP, Structured Mezzanine | (v)(w) | Media & Entertainment | 9.0% | 10/14/23 | $ | 167.3 | 164.9 | 167.3 | ||||||||||||||||||
KKR Rocket Loans Aggregator LLC, Partnership Interest | (ad)(v)(w) | Diversified Financials | 1,387,913 | 1.4 | 1.4 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c)/ Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||
KKR Zeno Aggregator LP (K2 Aviation), Partnership Interest | (v)(w)(y) | Capital Goods | 23,664,954 | $ | 23.0 | $ | 19.1 | |||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (v)(w) | Technology Hardware & Equipment | 7.8% | 9/22/24 | € | 7.8 | 9.2 | 8.9 | ||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (v)(w) | Technology Hardware & Equipment | 7.8% | 9/22/24 | $ | 12.1 | 12.1 | 12.1 | ||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (v)(w) | Technology Hardware & Equipment | 11.8% | 9/22/24 | € | 5.9 | 6.9 | 6.7 | ||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (v)(w) | Technology Hardware & Equipment | 11.8% | 9/22/24 | £ | 1.6 | 2.2 | 2.1 | ||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (v)(w) | Technology Hardware & Equipment | 7.8% | 9/22/24 | £ | 2.1 | 2.9 | 2.9 | ||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (v)(w) | Technology Hardware & Equipment | 11.8% | 9/22/24 | $ | 9.1 | 9.1 | 9.1 | ||||||||||||||||||
My Community Homes SFR PropCo 2, Private Equity | (ad)(v)(w)(y) | Real Estate | 33,000,000 | 33.0 | 33.0 | |||||||||||||||||||||
NewStar Clarendon 2014-1A Class D | (v)(w) | Diversified Financials | 19.5% | 1/25/27 | $ | 8.3 | 2.5 | 4.2 | ||||||||||||||||||
Opendoor Labs Inc, Structured Mezzanine | (v)(w) | Real Estate | 10.0% | 4/1/26 | $ | 71.1 | 71.1 | 71.1 | ||||||||||||||||||
Opendoor Labs Inc, Structured Mezzanine | (w)(x) | Real Estate | 10.0% | 4/1/26 | $ | 88.9 | 88.9 | 88.9 | ||||||||||||||||||
Orchard Marine Limited, Class B Common Stock | (ac)(v)(w)(y) | Transportation | 1,964 | 3.1 | — | |||||||||||||||||||||
Orchard Marine Limited, Series A Preferred Stock | (ac)(v)(w)(y) | Transportation | 62,976 | 62.0 | 64.6 | |||||||||||||||||||||
Pretium Partners LLC P1, Structured Mezzanine | (v)(w) | Real Estate | 2.8%, 5.3% PIK (5.3% Max PIK) | 10/22/26 | $ | 6.7 | 6.2 | 6.8 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c)/ Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||
Pretium Partners LLC P2, Private Equity | (v)(w)(y) | Real Estate | 16,772,368 | $ | 16.4 | $ | 16.4 | |||||||||||||||||||||||
Pretium Partners LLC P2, Term Loan | (v)(w) | Real Estate | 11.0% | 12/16/29 | $ | 33.5 | 32.9 | 32.9 | ||||||||||||||||||||||
Prime ST LLC, Private Equity | (ad)(v)(w)(y) | Real Estate | 5,983,135 | 7.7 | 9.1 | |||||||||||||||||||||||||
Prime ST LLC, Structured Mezzanine | (ad)(v)(w) | Real Estate | | 5.0%, 6.0% PIK (6.0% Max PIK) |
| 3/12/30 | $ | 52.4 | 50.4 | 52.4 | ||||||||||||||||||||
Star Mountain Diversified Credit Income Fund III, LP, Private Equity | (o)(w) | Diversified Financials | 23,500,000 | 23.5 | 24.3 | |||||||||||||||||||||||||
Toorak Capital Funding LLC, Membership Interest | (ad)(v)(w)(y) | Real Estate | 1,723,140 | 1.9 | 1.7 | |||||||||||||||||||||||||
Toorak Capital Partners LLC, Private Equity | (ad)(v) | Real Estate | 158,139,270 | 158.1 | 199.3 | |||||||||||||||||||||||||
Toorak Capital Partners LLC, Structured Mezzanine | (ad)(v) | Real Estate | | L+650 PIK (L+650 Max PIK) |
| 5/11/22 | $ | 22.0 | 22.0 | 22.0 | ||||||||||||||||||||
Toorak Capital Partners LLC, Structured Mezzanine | (ad)(x) | Real Estate | | L+650 PIK (L+650 Max PIK) |
| 5/11/22 | $ | 8.0 | 8.0 | 8.0 | ||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||
Total Asset Based Finance | 2,380.9 | 2,493.9 | ||||||||||||||||||||||||||||
Unfunded Asset Based Finance Commitments | (248.9 | ) | (248.9 | ) | ||||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||
Net Asset Based Finance | 2,132.0 | 2,245.0 | ||||||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC—18.1% | ||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC | (ad)(v)(w) | Diversified Financials | 1,462.3 | 1,396.7 | 1,396.2 | |||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||
Total Credit Opportunities Partners JV, LLC | 1,396.7 | 1,396.2 | ||||||||||||||||||||||||||||
|
|
|
|
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Number of Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||
Equity/Other—11.7%(e) | ||||||||||||||||||||||||||
Abaco Energy Technologies LLC, Common Stock | (v)(y) | Energy | 3,055,556 | $ | 0.2 | $ | 0.3 | |||||||||||||||||||
Abaco Energy Technologies LLC, Preferred Stock | (v)(y) | Energy | 12,734,481 | 1.5 | 1.7 | |||||||||||||||||||||
Affordable Care Inc, Preferred Stock | (ac)(v) | Health Care Equipment & Services | 11.8% PIK (11.8% Max PIK) | 49,073,000 | 48.1 | 52.1 | ||||||||||||||||||||
American Vision Partners, Private Equity | (v)(y) | Health Care Equipment & Services | 2,450,230 | 2.5 | 2.4 | |||||||||||||||||||||
Amtek Global Technology Pte Ltd, Common Stock | (ad)(g)(v)(w)(y) | Automobiles & Components | 7,046,126 | — | — | |||||||||||||||||||||
Amtek Global Technology Pte Ltd, Ordinary Shares | (ad)(v)(w)(y) | Automobiles & Components | 5,735,804,056 | 30.7 | — | |||||||||||||||||||||
Amtek Global Technology Pte Ltd, Private Equity | (ad)(v)(w)(y) | Automobiles & Components | 4,097 | — | — | |||||||||||||||||||||
Angelica Corp, Limited Partnership Interest | (h)(y) | Health Care Equipment & Services | 877,044 | 47.6 | — | |||||||||||||||||||||
Arcos LLC/VA, Preferred Stock | (v) | Software & Services | L+950 PIK (L+950 Max PIK) | 1.0% | 4/30/31 | 15,000,000 | 14.0 | 15.5 | ||||||||||||||||||
Ardonagh Ltd, Ordinary Shares | (v)(w)(y) | Insurance | 16,450 | — | 2.8 | |||||||||||||||||||||
Ardonagh Ltd, Ordinary Shares | (v)(w)(y) | Insurance | 116,814 | 0.2 | 0.5 | |||||||||||||||||||||
Ardonagh Ltd, Preferred Stock | (v)(w)(y) | Insurance | 6,113,719 | 9.1 | 22.0 | |||||||||||||||||||||
Arena Energy LP, Warrants | (v)(y) | Energy | 68,186,525 | 0.4 | 0.6 | |||||||||||||||||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp, Common Stock | (p)(y) | Energy | 10,193 | 9.7 | 2.3 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Number of Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp, Trade Claim | (p)(y) | Energy | 86,607,143 | $ | 19.4 | $ | 19.8 | |||||||||||||||||||
Aspect Software Inc, Common Stock | (l)(s)(v)(y) | Software & Services | 1,309,955 | 2.3 | 2.7 | |||||||||||||||||||||
Aspect Software Inc, Warrant | (l)(s)(v)(y) | Software & Services | 1/15/24 | 181,730 | 0.3 | 0.3 | ||||||||||||||||||||
ATX Networks Corp, Common Stock | (ad)(s)(v)(w)(y) | Capital Goods | 3,483 | — | — | |||||||||||||||||||||
AVF Parent LLC, Trade Claim | (v)(y) | Retailing | 44,507 | — | — | |||||||||||||||||||||
Belk Inc, Common Stock | (ac)(v)(y) | Retailing | 94,950 | — | — | |||||||||||||||||||||
Borden (New Dairy Opco), Common Stock | (ac)(h)(n)(y) | Food, Beverage & Tobacco | 11,167,000 | 9.1 | 7.7 | |||||||||||||||||||||
Bowery Farming Inc, Warrants | (v)(y) | Food, Beverage & Tobacco | 4/30/26 | 161,828 | 0.0 | 5.2 | ||||||||||||||||||||
Catalina Marketing Corp, Common Stock | (v)(y) | Media & Entertainment | 6,522 | — | — | |||||||||||||||||||||
CDS US Intermediate Holdings Inc, Warrant | (v)(w)(y) | Media & Entertainment | 2,023,714 | — | — | |||||||||||||||||||||
Cengage Learning, Inc, Common Stock | (v)(y) | Media & Entertainment | 227,802 | 7.5 | 4.2 | |||||||||||||||||||||
Cimarron Energy Inc, Common Stock | (v)(y) | Energy | 4,302,293 | — | — | |||||||||||||||||||||
Cimarron Energy Inc, Participation Option | (v)(y) | Energy | 25,000,000 | — | — | |||||||||||||||||||||
Constellis Holdings LLC, Private Equity | (ac)(f)(v)(y) | Capital Goods | 849,702 | 10.3 | 0.2 | |||||||||||||||||||||
CTI Foods Holding Co LLC, Common Stock | (v)(y) | Food, Beverage & Tobacco | 5,892 | 0.7 | — | |||||||||||||||||||||
Cubic Corp, Preferred Stock | (v) | Software & Services | 11.0% PIK (11.0% Max PIK) | 42,141,600 | 39.6 | 42.3 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Number of Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||
Envigo Laboratories Inc, Series A Warrant | (s)(y) | Health Care Equipment & Services | 4/29/24 | 10,924 | $ | — | $ | — | ||||||||||||||||||
Envigo Laboratories Inc, Series B Warrant | (s)(y) | Health Care Equipment & Services | 4/29/24 | 17,515 | — | — | ||||||||||||||||||||
Fairway Group Holdings Corp, Common Stock | (ac)(v)(y) | Food & Staples Retailing | 103,091 | — | — | |||||||||||||||||||||
Fox Head Inc, Common Stock | (j)(v)(y) | Consumer Durables & Apparel | 10,000,000 | 8.0 | 10.9 | |||||||||||||||||||||
Fronton BV, Common Stock | (ac)(o)(y) | Consumer Services | 14,943 | — | 1.4 | |||||||||||||||||||||
Galaxy Universal LLC, Common Stock | (v)(y) | Consumer Durables & Apparel | 228,806 | 35.5 | 35.5 | |||||||||||||||||||||
Galaxy Universal LLC, Trade Claim | (v)(y) | Consumer Durables & Apparel | 27,256,114 | 16.4 | 16.4 | |||||||||||||||||||||
Genesys Telecommunications Laboratories Inc, Class A Shares | (v)(y) | Technology Hardware & Equipment | 40,529 | — | — | |||||||||||||||||||||
Genesys Telecommunications Laboratories Inc, Ordinary Shares | (v)(y) | Technology Hardware & Equipment | 41,339 | — | — | |||||||||||||||||||||
Genesys Telecommunications Laboratories Inc, Preferred Stock | (v)(y) | Technology Hardware & Equipment | 1,050,465 | — | — | |||||||||||||||||||||
Harvey Industries Inc, Common Stock | (v) | Capital Goods | 5,000,000 | 2.2 | 3.3 | |||||||||||||||||||||
Hilding Anders, Class A Common Stock | (ad)(v)(w)(y) | Consumer Durables & Apparel | 4,503,411 | 0.1 | — | |||||||||||||||||||||
Hilding Anders, Class B Common Stock | (ad)(v)(w)(y) | Consumer Durables & Apparel | 574,791 | 0.0 | — |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Number of Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||
Hilding Anders, Class C Common Stock | (ad)(v)(w)(y) | Consumer Durables & Apparel | 213,201 | $ | — | $ | — | |||||||||||||||||||
Hilding Anders, Equity Options | (ad)(v)(w)(y) | Consumer Durables & Apparel | 11/30/25 | 236,160,807 | 15.0 | — | ||||||||||||||||||||
HM Dunn Co Inc, Preferred Stock, Series A | (ad)(s)(v)(y) | Capital Goods | 85,385 | 7.1 | 7.1 | |||||||||||||||||||||
HM Dunn Co Inc, Preferred Stock, Series B | (ad)(s)(v)(y) | Capital Goods | 15,000 | — | — | |||||||||||||||||||||
Imagine Communications Corp, Common Stock | (v)(y) | Media & Entertainment | 33,034 | 3.8 | 2.5 | |||||||||||||||||||||
Jones Apparel Holdings, Inc., Common Stock | (v)(y) | Consumer Durables & Apparel | 5,451 | 0.9 | — | |||||||||||||||||||||
JW Aluminum Co, Common Stock | (ad)(j)(u)(v)(y) | Materials | 2,105 | 0.0 | — | |||||||||||||||||||||
JW Aluminum Co, Preferred Stock | (ad)(j)(u)(v) | Materials | 12.5% PIK (12.5% Max PIK) | 2/15/28 | 15,279 | 177.9 | 122.6 | |||||||||||||||||||
Maverick Natural Resources LLC, Common Stock | (n)(o)(y) | Energy | 259,211 | 84.5 | 143.6 | |||||||||||||||||||||
MB Precision Holdings LLC, Class A - 2 Units | (n)(o)(y) | Capital Goods | 8,081,288 | 0.5 | — | |||||||||||||||||||||
Med-Metrix, Common Stock | (h)(y) | Software & Services | 29,403 | 1.5 | 1.6 | |||||||||||||||||||||
Med-Metrix, Preferred Stock | (h) | Software & Services | 8.0% PIK (8.0% Max PIK) | 29,403 | 1.5 | 1.5 | ||||||||||||||||||||
Miami Beach Medical Group LLC, Common Stock | (v)(y) | Health Care Equipment & Services | 5,000,000 | 4.8 | 3.9 | |||||||||||||||||||||
Micronics Filtration Holdings Inc, Common Stock | (ac)(v)(y) | Capital Goods | 53,073 | 0.6 | — | |||||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series A | (ac)(v)(y) | Capital Goods | 55 | 0.6 | 0.1 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Number of Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series B | (ac)(v)(y) | Capital Goods | 23 | $ | 0.2 | $ | 0.4 | |||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series B PIK | (ac)(v)(y) | Capital Goods | 112,780 | — | 11.9 | |||||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series C PIK | (ac)(v)(y) | Capital Goods | 54,000 | — | 6.2 | |||||||||||||||||||||
Misys Ltd, Preferred Stock | (v)(w) | Software & Services | L+1,025 PIK (L+1,025 Max PIK) | 79,782,377 | 73.5 | 78.9 | ||||||||||||||||||||
NBG Home, Common Stock | (v)(y) | Consumer Durables & Apparel | 1,903 | 2.6 | — | |||||||||||||||||||||
Nine West Holdings Inc, Common Stock | (v)(y) | Consumer Durables & Apparel | 5,451 | 6.5 | — | |||||||||||||||||||||
One Call Care Management Inc, Common Stock | (ad)(v)(y) | Health Care Equipment & Services | 34,872 | 2.1 | 2.4 | |||||||||||||||||||||
One Call Care Management Inc, Preferred Stock A | (ad)(v)(y) | Health Care Equipment & Services | 371,992 | 22.8 | 26.1 | |||||||||||||||||||||
One Call Care Management Inc, Preferred Stock B | (ad)(v) | Health Care Equipment & Services | 9.0% PIK (9.0% Max PIK) | 10/25/29 | 7,672,347 | 8.0 | 9.2 | |||||||||||||||||||
Petroplex Acidizing Inc, Preferred Stock A | (ac)(v)(y) | Energy | 25,138,631 | 4.9 | — | |||||||||||||||||||||
Petroplex Acidizing Inc, Warrant | (ac)(v)(y) | Energy | 12/15/26 | 8 | — | — | ||||||||||||||||||||
Polyconcept North America Inc, Class A - 1 Units | (v)(y) | Household & Personal Products | 30,000 | 3.0 | 4.3 | |||||||||||||||||||||
PRG III LLC, Preferred Stock, Series A PIK | (ad)(v)(y) | Media & Entertainment | 8/21/24 | 434,250 | 18.1 | 17.4 | ||||||||||||||||||||
PRG III LLC, Preferred Stock, Series B PIK | (ad)(v)(y) | Media & Entertainment | 8/21/24 | 140 | — | — | ||||||||||||||||||||
Proserv Acquisition LLC, Class A Common Units | (ac)(v)(w)(y) | Energy | 2,635,005 | 33.4 | 0.1 | |||||||||||||||||||||
Proserv Acquisition LLC, Class A Preferred Units | (ac)(v)(w)(y) | Energy | 837,780 | 5.4 | 9.3 |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Number of Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||
Quorum Health Corp, Trade Claim | (v)(y) | Health Care Equipment & Services | 8,301,000 | $ | 0.7 | $ | 0.9 | |||||||||||||||||||
Quorum Health Corp, Trust Initial Funding Units | (v)(y) | Health Care Equipment & Services | 143,400 | 0.2 | 0.2 | |||||||||||||||||||||
Ridgeback Resources Inc, Common Stock | (j)(u)(v)(w)(y) | Energy | 1,969,418 | 9.1 | 9.9 | |||||||||||||||||||||
Sorenson Communications LLC, Common Stock | (ac)(j)(u)(v)(y) | Telecommunication Services | 89,959 | 42.5 | 67.5 | |||||||||||||||||||||
Sound United LLC, Common Stock | (ad)(v) | Consumer Durables & Apparel | 12,857,143 | 17.3 | 77.5 | |||||||||||||||||||||
Stuart Weitzman Inc, Common Stock | (v)(y) | Consumer Durables & Apparel | 5,451 | — | — | |||||||||||||||||||||
Sungard Availability Services Capital Inc, Common Stock | (ac)(s)(u)(v)(y) | Software & Services | 262,516 | 6.9 | — | |||||||||||||||||||||
Swift Worldwide Resources Holdco Ltd, Common Stock | (v)(y) | Energy | 1,250,000 | 1.2 | 1.1 | |||||||||||||||||||||
ThermaSys Corp, Common Stock | (ac)(u)(v)(y) | Capital Goods | 17,383,026 | 10.2 | — | |||||||||||||||||||||
ThermaSys Corp, Preferred Stock | (ac)(v)(y) | Capital Goods | 1,529 | 1.7 | — | |||||||||||||||||||||
Versatile Processing Group Inc, Class A - 2 Units | (u)(y) | Materials | 3,637,500 | 3.6 | — | |||||||||||||||||||||
Warren Resources Inc, Common Stock | (ad)(v)(y) | Energy | 3,483,788 | 12.8 | 20.4 | |||||||||||||||||||||
Zeta Interactive Holdings Corp, Common Stock | (aa)(v)(y) | Software & Services | 3,610,212 | 30.8 | 30.4 | |||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||
Total Equity/Other | 931.6 | 907.1 | ||||||||||||||||||||||||
|
| |||||||||||||||||||||||||
TOTAL INVESTMENTS—208.3% | $ | 16,056.7 | 16,101.5 | |||||||||||||||||||||||
|
| |||||||||||||||||||||||||
LIABILITIES IN EXCESS OF OTHER ASSETS—(108.3%) | (8,371.5 | ) | ||||||||||||||||||||||||
|
| |||||||||||||||||||||||||
NET ASSETS—100% | $ | 7,730.0 | ||||||||||||||||||||||||
|
|
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Foreign currency forward contracts
Foreign Currency | Settlement Date | Counterparty | Amount and Transaction | US$ Value at Settlement Date | US$ Value at December 31, 2021 | Unrealized Appreciation (Depreciation) | ||||||||||||||||||
AUD | 10/17/2022 | JP Morgan Chase Bank | A$ | 3 Sold | $ | 2.1 | $ | 2.2 | $ | (0.1 | ) | |||||||||||||
AUD | 2/14/2023 | JP Morgan Chase Bank | A$ | 2.2 Sold | 1.6 | 1.6 | — | |||||||||||||||||
CAD | 6/7/2022 | JP Morgan Chase Bank | $ | 1.4 Sold | 1.1 | 1.1 | — | |||||||||||||||||
CAD | 6/7/2022 | JP Morgan Chase Bank | $ | 1.9 Sold | 1.5 | 1.5 | — | |||||||||||||||||
CAD | 11/10/2022 | JP Morgan Chase Bank | $ | 1.5 Sold | 1.2 | 1.1 | 0.1 | |||||||||||||||||
CAD | 11/15/2024 | JP Morgan Chase Bank | $ | 4.0 Sold | 3.2 | 3.1 | 0.1 | |||||||||||||||||
EUR | 5/6/2022 | JP Morgan Chase Bank | € | 6.1 Sold | 7.5 | 7.0 | 0.5 | |||||||||||||||||
EUR | 5/6/2022 | JP Morgan Chase Bank | € | 1.6 Sold | 2.0 | 1.8 | 0.2 | |||||||||||||||||
EUR | 5/6/2022 | JP Morgan Chase Bank | € | 0.7 Sold | 0.9 | 0.8 | 0.1 | |||||||||||||||||
EUR | 5/6/2022 | JP Morgan Chase Bank | € | 2.2 Sold | 2.7 | 2.5 | 0.2 | |||||||||||||||||
EUR | 5/6/2022 | JP Morgan Chase Bank | € | 0.9 Sold | 1.2 | 1.1 | 0.1 | |||||||||||||||||
EUR | 9/12/2022 | JP Morgan Chase Bank | € | 10.0 Sold | 11.7 | 11.5 | 0.2 | |||||||||||||||||
EUR | 7/17/2023 | JP Morgan Chase Bank | € | 1.3 Sold | 1.7 | 1.5 | 0.2 | |||||||||||||||||
EUR | 2/23/2024 | JP Morgan Chase Bank | € | 42.3 Sold | 49.1 | 49.4 | (0.3 | ) | ||||||||||||||||
EUR | 8/8/2025 | JP Morgan Chase Bank | € | 4.8 Sold | 5.7 | 5.7 | — | |||||||||||||||||
EUR | 8/8/2025 | JP Morgan Chase Bank | € | 1.9 Sold | 2.3 | 2.3 | — | |||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 1.9 Sold | 2.9 | 2.6 | 0.3 | |||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 1.7 Sold | 2.6 | 2.3 | 0.3 | |||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 3.4 Sold | 4.8 | 4.6 | 0.2 | |||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 5.0 Sold | 6.5 | 6.6 | (0.1 | ) | ||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 1.4 Sold | 1.9 | 1.9 | — | |||||||||||||||||
GBP | 10/13/2023 | JP Morgan Chase Bank | £ | 6.2 Sold | 8.5 | 8.4 | 0.1 | |||||||||||||||||
NOK | 8/8/2025 | JP Morgan Chase Bank | NOK | 49.1 Sold | 5.2 | 5.5 | (0.3 | ) | ||||||||||||||||
NOK | 8/8/2025 | JP Morgan Chase Bank | NOK | 11.4 Sold | 1.2 | 1.3 | (0.1 | ) | ||||||||||||||||
SEK | 3/15/2024 | JP Morgan Chase Bank | SEK | 72.8 Sold | 8.5 | 8.2 | 0.3 | |||||||||||||||||
SEK | 5/10/2024 | JP Morgan Chase Bank | SEK | 430.3 Sold | 51.4 | 48.4 | 3.0 | |||||||||||||||||
SEK | 5/10/2024 | JP Morgan Chase Bank | SEK | 503.0 Sold | 60.1 | 56.6 | 3.5 | |||||||||||||||||
SEK | 5/10/2024 | JP Morgan Chase Bank | SEK | 34.5 Sold | 4.1 | 3.9 | 0.2 | |||||||||||||||||
SEK | 8/8/2025 | JP Morgan Chase Bank | SEK | 119.3 Sold | 13.3 | 13.5 | (0.2 | ) | ||||||||||||||||
SEK | 8/8/2025 | JP Morgan Chase Bank | SEK | 27.8 Sold | 3.1 | 3.2 | (0.1 | ) | ||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||
Total | $ | 269.6 | $ | 261.2 | $ | 8.4 | ||||||||||||||||||
|
|
|
|
|
|
|
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
|
|
|
|
|
Portfolio Company | Fair Value at December 31, 2020 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at December 31, 2021 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend Income(3) | ||||||||||||||||||||||||||||||
Senior Secured Loans—First Lien |
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Affordable Care Inc | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.3 | $ | — | ||||||||||||||||||||
Affordable Care Inc | — | 115.5 | (55.9 | ) | 0.3 | — | 59.9 | 2.7 | — | 1.6 | — | |||||||||||||||||||||||||||||
Belk Inc | — | 42.6 | (2.4 | ) | — | 9.0 | 49.2 | 3.1 | 0.9 | — | — | |||||||||||||||||||||||||||||
Belk Inc | — | 21.7 | — | — | 0.2 | 21.9 | 1.6 | — | — | — | ||||||||||||||||||||||||||||||
Borden (New Dairy Opco) | 7.6 | 10.6 | (10.0 | ) | 0.2 | 0.6 | 9.0 | 0.5 | — | — | — | |||||||||||||||||||||||||||||
Borden (New Dairy Opco) | 16.8 | 23.4 | — | — | 1.8 | 42.0 | 2.7 | — | — | — | ||||||||||||||||||||||||||||||
Borden Dairy Co | — | — | — | 1.3 | (1.3 | ) | — | — | — | — | — | |||||||||||||||||||||||||||||
Constellis Holdings LLC | — | 14.0 | — | — | 1.0 | 15.0 | 0.9 | — | — | — | ||||||||||||||||||||||||||||||
Fairway Group Holdings Corp | — | 1.1 | (0.7 | ) | 0.6 | (0.3 | ) | 0.7 | 0.8 | — | — | — | ||||||||||||||||||||||||||||
Fairway Group Holdings Corp | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
HM Dunn Co Inc(5) | 0.3 | — | (0.6 | ) | — | 0.3 | — | — | — | — | — | |||||||||||||||||||||||||||||
HM Dunn Co Inc(5) | 0.2 | — | (0.3 | ) | — | 0.1 | — | — | — | — | — | |||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc | 35.5 | 1.0 | — | — | 14.5 | 51.0 | — | 1.0 | — | — | ||||||||||||||||||||||||||||||
One Call Care Management Inc(5) | 4.7 | 0.6 | (4.9 | ) | — | (0.4 | ) | — | 0.2 | — | — | — | ||||||||||||||||||||||||||||
Petroplex Acidizing Inc | 4.5 | — | (0.2 | ) | — | 5.4 | 9.7 | — | — | — | — | |||||||||||||||||||||||||||||
Sorenson Communications LLC(4) | — | 61.8 | (5.1 | ) | 0.2 | 3.2 | 60.1 | 2.8 | — | — | — | |||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc(4) | — | 5.7 | — | — | 0.3 | 6.0 | 0.2 | 0.1 | — | — | ||||||||||||||||||||||||||||||
ThermaSys Corp | 3.9 | 0.4 | — | — | (0.8 | ) | 3.5 | — | 0.5 | — | — |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company | Fair Value at December 31, 2020 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at December 31, 2021 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend Income(3) | ||||||||||||||||||||||||||||||
Senior Secured Loans—Second Lien |
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Belk Inc | $ | — | $ | 4.2 | $ | — | $ | — | $ | 2.5 | $ | 6.7 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||
Constellis Holdings LLC | — | 12.5 | — | — | (0.5 | ) | 12.0 | 0.6 | 0.4 | — | — | |||||||||||||||||||||||||||||
Fairway Group Holdings Corp | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Sorenson Communications LLC | — | 22.0 | (22.2 | ) | 0.2 | — | — | 0.4 | 0.9 | — | — | |||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc | — | 13.6 | 0.1 | — | (5.4 | ) | 8.3 | 0.7 | 0.2 | — | — | |||||||||||||||||||||||||||||
Other Senior Secured Debt | ||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co(5) | 41.8 | — | (39.4 | ) | — | (2.4 | ) | — | — | — | — | — | ||||||||||||||||||||||||||||
Subordinated Debt | ||||||||||||||||||||||||||||||||||||||||
Home Partners of America Inc | — | 3.5 | (3.5 | ) | — | — | — | 0.1 | — | — | — | |||||||||||||||||||||||||||||
Asset Based Finance | ||||||||||||||||||||||||||||||||||||||||
Home Partners JV, Structured Mezzanine | 38.5 | 83.4 | (36.3 | ) | — | 4.8 | 90.4 | 0.6 | 7.3 | — | — | |||||||||||||||||||||||||||||
Home Partners JV, Private Equity | — | 5.4 | — | — | 4.0 | 9.4 | — | — | — | — | ||||||||||||||||||||||||||||||
Home Partners JV, Private Equity | — | — | — | (0.6 | ) | 0.6 | — | — | — | — | — | |||||||||||||||||||||||||||||
Home Partners JV, Common Stock | 21.5 | 45.9 | (22.9 | ) | 7.7 | 28.4 | 80.6 | — | — | — | — | |||||||||||||||||||||||||||||
Home Partners JV 2, Structured Mezzanine | — | 3.4 | — | — | 0.1 | 3.5 | — | 0.2 | — | — | ||||||||||||||||||||||||||||||
Home Partners JV 2, Private Equity | — | 0.1 | — | — | — | 0.1 | — | — | — | — | ||||||||||||||||||||||||||||||
Home Partners JV 2, Private Equity | — | 1.5 | — | — | 0.1 | 1.6 | — | — | — | — | ||||||||||||||||||||||||||||||
Jet Edge International LLC, Preferred Stock | — | 20.9 | — | — | (4.1 | ) | 16.8 | 0.5 | — | — | — | |||||||||||||||||||||||||||||
Jet Edge International LLC, Warrant | — | — | — | — | 4.5 | 4.5 | — | — | — | — | ||||||||||||||||||||||||||||||
Jet Edge International LLC, Term Loan | — | 78.0 | (2.1 | ) | — | (0.3 | ) | 75.6 | 2.4 | 0.5 | — | — | ||||||||||||||||||||||||||||
Orchard Marine Limited, Class B Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Orchard Marine Limited, Series A Preferred Stock | 24.6 | — | — | — | 40.0 | 64.6 | — | — | — | — | ||||||||||||||||||||||||||||||
Equity/Other | ||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc, Common Stock | — | 48.1 | — | — | 4.0 | 52.1 | — | 2.3 | — | — | ||||||||||||||||||||||||||||||
ASG Technologies, Common Stock | 42.7 | — | (79.4 | ) | 56.0 | (19.3 | ) | — | — | — | — | — | ||||||||||||||||||||||||||||
ASG Technologies, Warrants | 3.5 | — | (10.2 | ) | 3.7 | 3.0 | — | — | — | — | — | |||||||||||||||||||||||||||||
Belk Inc, Common Stock | — | — | — | — | — | — | — | 0 | — | — |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company | Fair Value at December 31, 2020 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at December 31, 2021 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend Income(3) | ||||||||||||||||||||||||||||||
Borden (New Dairy Opco), Common Stock | $ | 3.2 | $ | 5.2 | $ | — | $ | — | $ | (0.7 | ) | $ | 7.7 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||
Charlotte Russe Inc, Common Stock | — | — | — | (12.5 | ) | 12.5 | — | — | — | — | — | |||||||||||||||||||||||||||||
Constellis Holdings LLC, Private Equity | — | 10.3 | — | — | (10.1 | ) | 0.2 | — | — | — | — | |||||||||||||||||||||||||||||
Fairway Group Holdings Corp, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Fronton BV, Common Stock | 1.2 | — | — | — | 0.2 | 1.4 | — | — | — | — | ||||||||||||||||||||||||||||||
HM Dunn Co Inc, Preferred Stock, Series A(5) | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
HM Dunn Co Inc, Preferred Stock, Series B(5) | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Home Partners of America Inc, Common Stock | 130.5 | — | (214.3 | ) | 130.7 | (46.9 | ) | — | — | — | — | — | ||||||||||||||||||||||||||||
Home Partners of America Inc, Warrant | 2.1 | — | (4.4 | ) | 4.1 | (1.8 | ) | — | — | — | — | — | ||||||||||||||||||||||||||||
JW Aluminum Co, Common Stock(5) | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
JW Aluminum Co, Preferred Stock(5) | 93.7 | — | (107.3 | ) | — | 13.6 | — | — | 4.2 | — | — | |||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series A | — | — | — | — | 0.1 | 0.1 | — | — | — | — | ||||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series B | — | — | — | — | 0.4 | 0.4 | — | — | — | — | ||||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series B PIK | — | — | — | — | 11.9 | 11.9 | — | — | — | — | ||||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series C PIK | — | — | — | — | 6.2 | 6.2 | — | — | — | — | ||||||||||||||||||||||||||||||
One Call Care Management Inc, Common Stock(5) | 2.4 | — | (3.0 | ) | — | 0.6 | — | — | — | — | — | |||||||||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock A(5) | 25.5 | — | (32.3 | ) | — | 6.8 | — | — | — | — | — | |||||||||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock B(5) | 10.6 | — | (9.8 | ) | — | (0.8 | ) | — | — | — | — | — | ||||||||||||||||||||||||||||
Petroplex Acidizing Inc, Preferred Stock A | — | 0.4 | — | — | (0.4 | ) | — | — | — | — | 0.4 | |||||||||||||||||||||||||||||
Petroplex Acidizing Inc, Warrant | — | — | — | — | — | — | — | — | — | — |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company | Fair Value at December 31, 2020 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at December 31, 2021 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend Income(3) | ||||||||||||||||||||||||||||||
Proserv Acquisition LLC, Class A Common Units | $ | 9.0 | $ | — | $ | (0.1 | ) | $ | — | $ | (8.8 | ) | $ | 0.1 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
Proserv Acquisition LLC, Class A Preferred Units | 9.5 | — | — | — | (0.2 | ) | 9.3 | — | — | — | — | |||||||||||||||||||||||||||||
Sorenson Communications LLC, Common Stock(4) | — | 42.5 | — | — | 25.0 | 67.5 | — | — | — | — | ||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc, Common Stock(4) | — | 6.9 | — | — | (6.9 | ) | — | — | — | — | — | |||||||||||||||||||||||||||||
ThermaSys Corp, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
ThermaSys Corp, Preferred Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
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Total | $ | 533.8 | $ | 706.2 | $ | (667.2 | ) | $ | 191.9 | $ | 94.3 | $ | 859.0 | $ | 20.8 | $ | 18.5 | $ | 1.9 | $ | 0.4 | |||||||||||||||||||
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See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
|
Portfolio Company | Fair Value at December 31, 2020 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at December 31, 2021 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend Income(3) | ||||||||||||||||||||||||||||||
Senior Secured Loans—First Lien |
| |||||||||||||||||||||||||||||||||||||||
Advanced Lighting Technologies Inc | $ | 12.0 | $ | 4.1 | $ | (15.9 | ) | $ | (4.6 | ) | $ | 4.4 | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
Amtek Global Technology Pte Ltd | 59.7 | 2.4 | — | — | (27.3 | ) | 34.8 | 1.1 | 1.4 | — | — | |||||||||||||||||||||||||||||
ATX Networks Corp | — | 46.8 | — | — | — | 46.8 | 1.3 | — | — | — | ||||||||||||||||||||||||||||||
HM Dunn Co Inc(4) | — | 49.2 | (7.1 | ) | (8.5 | ) | — | 33.6 | 0.5 | — | — | — | ||||||||||||||||||||||||||||
HM Dunn Co Inc(4) | — | 14.0 | (19.0 | ) | 7.0 | — | 2.0 | 0.4 | 0.8 | — | — | |||||||||||||||||||||||||||||
One Call Care Management Inc | — | 9.7 | (5.1 | ) | 0.1 | 0.3 | 5.0 | 0.3 | — | 0.1 | — | |||||||||||||||||||||||||||||
Production Resource Group LLC | — | 124.9 | — | — | 8.4 | 133.3 | 5.4 | 3.8 | — | — | ||||||||||||||||||||||||||||||
Production Resource Group LLC | — | 0.1 | — | — | — | 0.1 | — | — | — | — | ||||||||||||||||||||||||||||||
Production Resource Group LLC | — | 60.6 | (0.4 | ) | — | 4.2 | 64.4 | 2.8 | 0.8 | 0.4 | — | |||||||||||||||||||||||||||||
Production Resource Group LLC | — | 20.2 | (0.1 | ) | — | 0.1 | 20.2 | 0.4 | — | 0.1 | — | |||||||||||||||||||||||||||||
Sound United LLC | 14.9 | — | (15.0 | ) | — | 0.1 | — | 0.4 | — | — | — | |||||||||||||||||||||||||||||
Warren Resources Inc(4) | — | 19.3 | (2.0 | ) | 0.1 | 1.3 | 18.7 | 1.3 | 0.1 | — | — | |||||||||||||||||||||||||||||
Senior Secured Loans—Second Lien |
| |||||||||||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd | 0.1 | (1.8 | ) | — | (10.4 | ) | 12.1 | — | (1.9 | ) | — | — | — | |||||||||||||||||||||||||||
Sound United LLC | 20.9 | 1.7 | (22.6 | ) | — | — | — | — | 1.0 | — | — | |||||||||||||||||||||||||||||
Other Senior Secured Debt |
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Advanced Lighting Technologies Inc | — | — | (0.7 | ) | (22.9 | ) | 23.6 | — | — | — | — | — | ||||||||||||||||||||||||||||
JW Aluminum Co(4) | — | 75.5 | — | — | 5.5 | 81.0 | 6.2 | — | — | — | ||||||||||||||||||||||||||||||
One Call Care Management Inc(4) | — | 43.5 | (21.9 | ) | — | 1.9 | 23.5 | 0.4 | 1.6 | — | — | |||||||||||||||||||||||||||||
Subordinated Debt | ||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp | — | 4.8 | — | — | 2.3 | 7.1 | — | — | — | — | ||||||||||||||||||||||||||||||
Hilding Anders | 32.4 | — | — | — | 14.2 | 46.6 | — | — | — | — | ||||||||||||||||||||||||||||||
Hilding Anders | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Hilding Anders | 30.3 | — | — | — | (30.3 | ) | — | — | — | — | — | |||||||||||||||||||||||||||||
Asset Based Finance | ||||||||||||||||||||||||||||||||||||||||
801 5th Ave, Seattle, Structure Mezzanine | 29.4 | 25.7 | — | — | 2.1 | 57.2 | 3.6 | 1.3 | — | — |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company | Fair Value at December 31, 2020 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at December 31, 2021 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend Income(3) | ||||||||||||||||||||||||||||||
801 5th Ave, Seattle, Private Equity | $ | 10.3 | $ | 9.6 | $ | — | $ | — | $ | 3.2 | $ | 23.1 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||
Avida Holding AB, Common Stock | 38.3 | 9.1 | — | — | 4.9 | 52.3 | — | — | — | — | ||||||||||||||||||||||||||||||
Kilter Finance, Preferred Stock | 0.2 | 34.4 | — | — | 1.5 | 36.1 | 1.3 | 1.2 | — | — | ||||||||||||||||||||||||||||||
Kilter Finance, Private Equity | 0.2 | 0.3 | — | — | — | 0.5 | — | — | — | — | ||||||||||||||||||||||||||||||
KKR Rocket Loans Aggregator LLC, Partnership Interest | — | 1.4 | — | — | — | 1.4 | — | — | — | 0.1 | ||||||||||||||||||||||||||||||
My Community Homes SFR PropCo 2, Private Equity | — | 33.0 | — | — | — | 33.0 | — | — | — | — | ||||||||||||||||||||||||||||||
Prime St LLC, Private Equity | 3.9 | 4.6 | — | — | 0.6 | 9.1 | — | — | — | — | ||||||||||||||||||||||||||||||
Prime St LLC, Structured Mezzanine | 22.8 | 27.6 | — | — | 2.0 | 52.4 | 0.9 | 2.2 | — | — | ||||||||||||||||||||||||||||||
Toorak Capital Funding LLC, Membership Interest | 6.6 | 1.3 | (4.9 | ) | — | (1.3 | ) | 1.7 | — | — | — | — | ||||||||||||||||||||||||||||
Toorak Capital LLC, Membership Interest | 235.9 | 2.3 | (50.2 | ) | 10.2 | 1.1 | 199.3 | — | — | — | 18.7 | |||||||||||||||||||||||||||||
Toorak Capital Partners LLC, Structured Mezzanine | — | 73.0 | (51.0 | ) | — | — | 22.0 | 0.2 | — | — | — | |||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC |
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Credit Opportunities Partners JV, LLC | 712.5 | 586.4 | — | — | 97.3 | 1,396.2 | — | — | — | 126.9 | ||||||||||||||||||||||||||||||
Equity/Other | ||||||||||||||||||||||||||||||||||||||||
Advanced Lighting Technologies Inc, Common Stock | — | — | — | (16.5 | ) | 16.5 | — | — | — | — | — | |||||||||||||||||||||||||||||
Advanced Lighting Technologies Inc, Warrant | — | — | — | (0.1 | ) | 0.1 | — | — | — | — | — | |||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd, Ordinary Shares | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd, Trade Claim | — | — | (1.4 | ) | 0.4 | 1.0 | — | — | — | — | — | |||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd, Private Equity | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
ATX Networks Corp, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Hilding Anders, Class A Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Hilding Anders, Class B Common Stock | — | — | — | — | — | — | — | — | — | — |
See notes to unaudited consolidated financial statements.
FS KKR Capital Corp.
Consolidated Schedule of Investments (continued)
As of December 31, 2021
(in millions, except share amounts)
Portfolio Company | Fair Value at December 31, 2020 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at December 31, 2021 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend Income(3) | ||||||||||||||||||||||||||||||
Hilding Anders, Class C Common Stock | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||
Hilding Anders, Equity Options | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
HM Dunn Co Inc, Preferred Stock, Series A(4) | — | 7.1 | — | — | — | 7.1 | — | — | — | — | ||||||||||||||||||||||||||||||
HM Dunn Co Inc, Preferred Stock, Series B(4) | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
JW Aluminum Co, Common Stock(4) | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
JW Aluminum Co, Preferred Stock(4) | — | 177.9 | — | — | (55.3 | ) | 122.6 | 0.4 | 20.9 | — | — | |||||||||||||||||||||||||||||
One Call Care Management Inc, Common Stock(4) | — | 4.5 | (2.2 | ) | (0.2 | ) | 0.3 | 2.4 | — | — | — | — | ||||||||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock A(4) | — | 48.6 | (23.7 | ) | (2.1 | ) | 3.3 | 26.1 | — | — | — | — | ||||||||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock B(4) | — | 15.7 | (8.8 | ) | 1.1 | 1.2 | 9.2 | — | 0.8 | — | — | |||||||||||||||||||||||||||||
Production Resource Group LLC, Preferred Stock, Series A PIK | — | 18.1 | — | — | (0.7 | ) | 17.4 | — | — | — | — | |||||||||||||||||||||||||||||
Production Resource Group LLC, Preferred Stock, Series B PIK | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Sound United LLC, Class A Units | — | — | — | (1.1 | ) | 1.1 | — | �� | — | — | — | — | ||||||||||||||||||||||||||||
Sound United LLC, Common Stock | 29.3 | — | — | — | 48.2 | 77.5 | — | — | — | 20.0 | ||||||||||||||||||||||||||||||
Sound United LLC, Series I Units | — | — | — | (0.5 | ) | 0.5 | — | — | — | — | — | |||||||||||||||||||||||||||||
Sound United LLC, Series II Units | — | — | — | (0.5 | ) | 0.5 | — | — | — | — | — | |||||||||||||||||||||||||||||
Warren Resources Inc, Common Stock | — | 12.8 | — | — | 7.6 | 20.4 | — | — | — | — | ||||||||||||||||||||||||||||||
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Total | $ | 1,259.7 | $ | 1,568.4 | $ | (252.0 | ) | $ | (48.5 | ) | $ | 156.5 | $ | 2,684.1 | $ | 25.0 | $ | 35.9 | $ | 0.6 | $ | 165.7 | ||||||||||||||||||
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See notes to unaudited consolidated financial statements.
Notes to Unaudited Consolidated Financial Statements
(in millions, except share and per share amounts)
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||||||||
Controlled/affiliated investments | $ | (69) | $ | 11 | $ | (216) | $ | 193 | ||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on foreign currency forward contracts | 15 | 5 | 31 | 8 | ||||||||||||||||||||||||||||
Net change in unrealized gain (loss) on foreign currency | 23 | 10 | 53 | 28 | ||||||||||||||||||||||||||||
Total net realized and unrealized gain (loss) | (343) | 69 | (611) | 939 | ||||||||||||||||||||||||||||
Provision for taxes on realized gains on investments | — | — | (3) | — | ||||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | $ | (127) | $ | 270 | $ | 25 | $ | 1,334 | ||||||||||||||||||||||||
Per share information—basic and diluted | ||||||||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations (Earnings (Losses) per Share) | $ | (0.45) | $ | 0.95 | $ | 0.09 | $ | 7.13 | ||||||||||||||||||||||||
Weighted average shares outstanding | 283,175,526 | 285,124,920 | 283,787,605 | 187,003,417 |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||||||||||||
Operations | |||||||||||||||||||||||||||||||||||
Net investment income (loss) | $ | 216 | $ | 201 | $ | 639 | $ | 395 | |||||||||||||||||||||||||||
Net realized gain (loss) on investments, foreign currency forward contracts, foreign currency and provision for taxes on realized gains on investments | 70 | 196 | 232 | 119 | |||||||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments and foreign currency forward contracts(1) | (436) | (137) | (899) | 792 | |||||||||||||||||||||||||||||||
Net change in unrealized gain (loss) on foreign currency | 23 | 10 | 53 | 28 | |||||||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | (127) | 270 | 25 | 1,334 | |||||||||||||||||||||||||||||||
Stockholder distributions(2) | |||||||||||||||||||||||||||||||||||
Distributions to stockholders | (190) | (186) | (562) | (335) | |||||||||||||||||||||||||||||||
Net decrease in net assets resulting from stockholder distributions | (190) | (186) | (562) | (335) | |||||||||||||||||||||||||||||||
Capital share transactions(3) | |||||||||||||||||||||||||||||||||||
Issuance of common stock | — | — | — | 3,642 | |||||||||||||||||||||||||||||||
Repurchases of common stock | (10) | (1) | (33) | (1) | |||||||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from capital share transactions | (10) | (1) | (33) | 3,641 | |||||||||||||||||||||||||||||||
Total increase (decrease) in net assets | (327) | 83 | (570) | 4,640 | |||||||||||||||||||||||||||||||
Net assets at beginning of period | 7,487 | 7,653 | 7,730 | 3,096 | |||||||||||||||||||||||||||||||
Net assets at end of period | $ | 7,160 | $ | 7,736 | $ | 7,160 | $ | 7,736 | |||||||||||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||||
September 30, | |||||||||||||||||||||||
2022 | 2021 | ||||||||||||||||||||||
Cash flows from operating activities | |||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | $ | 25 | $ | 1,334 | |||||||||||||||||||
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities: | |||||||||||||||||||||||
Purchases of investments(1) | (3,779) | (4,528) | |||||||||||||||||||||
Paid-in-kind interest | (89) | (67) | |||||||||||||||||||||
Proceeds from sales and repayments of investments | 3,530 | 3,720 | |||||||||||||||||||||
Net realized (gain) loss on investments | (214) | (123) | |||||||||||||||||||||
Net change in unrealized (appreciation) depreciation on investments(2) | 930 | (773) | |||||||||||||||||||||
Net change in unrealized (appreciation) depreciation on foreign currency forward contracts | (31) | (7) | |||||||||||||||||||||
Accretion of discount | (69) | (46) | |||||||||||||||||||||
Amortization of deferred financing costs and discount | 11 | 7 | |||||||||||||||||||||
Unrealized (gain)/loss on borrowings in foreign currency | (81) | (5) | |||||||||||||||||||||
(Increase) decrease in receivable for investments sold and repaid | 142 | (192) | |||||||||||||||||||||
(Increase) decrease in income receivable | (12) | (91) | |||||||||||||||||||||
(Increase) decrease in deferred merger costs | — | 1 | |||||||||||||||||||||
(Increase) decrease in prepaid expenses and other assets | (2) | (2) | |||||||||||||||||||||
Increase (decrease) in payable for investments purchased | 55 | 57 | |||||||||||||||||||||
Increase (decrease) in management fees payable | 1 | 33 | |||||||||||||||||||||
Increase (decrease) in subordinated income incentive fees payable | 6 | 20 | |||||||||||||||||||||
Increase (decrease) in administrative services expense payable | 2 | 4 | |||||||||||||||||||||
Increase (decrease) in interest payable | (3) | 30 | |||||||||||||||||||||
Increase (decrease) in other accrued expenses and liabilities | (11) | (6) | |||||||||||||||||||||
Cash acquired in merger | — | 293 | |||||||||||||||||||||
Other assets acquired from merger net of other assets | — | 17 | |||||||||||||||||||||
Merger costs capitalized into purchase price | — | (8) | |||||||||||||||||||||
Mark-to-market of merged debt | — | 26 | |||||||||||||||||||||
Net cash provided by (used in) operating activities | 411 | (306) | |||||||||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||
Repurchases of common stock | (33) | (1) | |||||||||||||||||||||
Stockholder distributions | (548) | (316) | |||||||||||||||||||||
Borrowings under financing arrangements(3) | 2,848 | 2,689 | |||||||||||||||||||||
Repayments of financing arrangements(3) | (2,770) | (2,009) | |||||||||||||||||||||
Deferred financing costs paid | (19) | (7) | |||||||||||||||||||||
Net cash provided by (used in) financing activities | (522) | 356 | |||||||||||||||||||||
Total increase (decrease) in cash | (111) | 50 | |||||||||||||||||||||
Cash, and foreign currency at beginning of period | 377 | 191 | |||||||||||||||||||||
Cash, and foreign currency at end of period | $ | 266 | $ | 241 | |||||||||||||||||||
Supplemental disclosure | |||||||||||||||||||||||
Non-cash purchases of investments | $ | (541) | $ | (198) | |||||||||||||||||||
Non-cash sales of investments | $ | 541 | $ | 198 | |||||||||||||||||||
Local and excise taxes paid | $ | 13 | $ | 9 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—First Lien—136.6% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3Pillar Global Inc | (i)(k)(l) | Software & Services | L+575 | 0.8% | 11/23/27 | $ | 95.5 | $ | 94.7 | $ | 92.9 | |||||||||||||||||||||||||||||||||||||||||||||
3Pillar Global Inc | (v) | Software & Services | L+600 | 0.8% | 11/23/27 | 5.7 | 5.7 | 5.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
3Pillar Global Inc | (x) | Software & Services | L+600 | 0.8% | 11/23/26 | 9.2 | 9.2 | 8.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
3Pillar Global Inc | (x) | Software & Services | L+600 | 0.8% | 11/23/27 | 24.9 | 24.9 | 24.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
48Forty Solutions LLC | (f)(k)(l)(t)(v) | Commercial & Professional Services | SF+550 | 1.0% | 11/30/26 | 183.2 | 181.5 | 179.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
48Forty Solutions LLC | (v) | Commercial & Professional Services | SF+550 | 1.0% | 11/30/26 | 7.4 | 7.4 | 7.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
48Forty Solutions LLC | (x) | Commercial & Professional Services | SF+550 | 1.0% | 11/30/26 | 3.2 | 3.2 | 3.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
5 Arch Income Fund 2 LLC | (q)(r)(w)(y)(z) | Diversified Financials | 9.0% | 11/18/23 | 97.5 | 71.4 | 62.4 | |||||||||||||||||||||||||||||||||||||||||||||||||
Accuride Corp | (aa)(l) | Capital Goods | L+525 | 1.0% | 11/17/23 | 8.9 | 8.4 | 7.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Advanced Dermatology & Cosmetic Surgery | (m)(t)(v) | Health Care Equipment & Services | L+650 | 1.0% | 5/7/27 | 38.6 | 36.9 | 38.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Advanced Dermatology & Cosmetic Surgery | (v) | Health Care Equipment & Services | L+650 | 1.0% | 5/7/27 | 7.9 | 7.9 | 7.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Advanced Dermatology & Cosmetic Surgery | (x) | Health Care Equipment & Services | L+650 | 1.0% | 5/7/26 | 3.6 | 3.6 | 3.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Advanced Dermatology & Cosmetic Surgery | (x) | Health Care Equipment & Services | L+650 | 1.0% | 5/7/27 | 2.2 | 2.2 | 2.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Advania Sverige AB | (v)(w) | Software & Services | SR+610, 0.0% PIK (3.3% Max PIK) | 0.0% | 4/28/28 | SEK | 933.6 | 105.9 | 81.2 | |||||||||||||||||||||||||||||||||||||||||||||||
Advania Sverige AB | (v)(w) | Software & Services | R+610, 0.0% PIK (3.3% Max PIK) | 0.0% | 4/28/28 | ISK | 1,345.8 | 10.1 | 9.1 | |||||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc | (ac)(m)(v) | Health Care Equipment & Services | L+550, 0.0% PIK (1.3% Max PIK) | 0.8% | 8/2/28 | $ | 38.8 | 38.4 | 38.3 | |||||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc | (ac)(v) | Health Care Equipment & Services | L+550, 0.0% PIK (1.3% Max PIK) | 0.8% | 8/2/28 | 10.3 | 10.3 | 10.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc | (ac)(x) | Health Care Equipment & Services | L+550, 0.0% PIK (1.3% Max PIK) | 0.8% | 8/2/27 | 12.8 | 12.8 | 12.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc | (ac)(x) | Health Care Equipment & Services | L+550, 0.0% PIK (1.3% Max PIK) | 0.8% | 8/2/28 | 33.2 | 33.2 | 32.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Alacrity Solutions Group LLC | (v) | Insurance | L+525 | 0.8% | 12/22/27 | 3.1 | 3.0 | 3.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Alacrity Solutions Group LLC | (v) | Insurance | L+525 | 0.8% | 12/22/28 | 28.4 | 28.0 | 27.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Alacrity Solutions Group LLC | (x) | Insurance | L+525 | 0.8% | 12/22/27 | 7.7 | 7.7 | 7.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Alera Group Intermediate Holdings Inc | (v) | Insurance | SF+600 | 0.8% | 10/2/28 | 9.2 | 9.1 | 8.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Alera Group Intermediate Holdings Inc | (v) | Insurance | SF+600 | 0.8% | 10/2/28 | 17.0 | 17.0 | 16.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Alera Group Intermediate Holdings Inc | (x) | Insurance | SF+600 | 0.8% | 10/2/28 | 5.6 | 5.6 | 5.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
American Vision Partners | (i)(v) | Health Care Equipment & Services | L+575 | 0.8% | 9/30/27 | 74.4 | 73.8 | 72.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
American Vision Partners | (v) | Health Care Equipment & Services | L+575 | 0.8% | 9/30/27 | 38.8 | 38.8 | 37.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
American Vision Partners | (x) | Health Care Equipment & Services | L+575 | 0.8% | 9/30/26 | 7.8 | 7.8 | 7.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Amerivet Partners Management Inc | (v) | Health Care Equipment & Services | SF+550 | 0.8% | 2/25/28 | 0.8 | 0.8 | 0.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Amerivet Partners Management Inc | (v) | Health Care Equipment & Services | SF+550 | 0.8% | 2/25/28 | 101.5 | 100.6 | 98.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Amerivet Partners Management Inc | (x) | Health Care Equipment & Services | SF+550 | 0.8% | 2/25/28 | 7.6 | 7.6 | 7.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Amerivet Partners Management Inc | (x) | Health Care Equipment & Services | SF+550 | 0.8% | 2/25/28 | 61.4 | 61.4 | 59.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Apex Group Limited | (aa)(v)(w) | Diversified Financials | L+375 | 0.5% | 7/27/28 | 2.5 | 2.5 | 2.4 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Apex Group Limited | (aa)(v)(w) | Diversified Financials | E+400 | 0.0% | 7/27/28 | € | 2.0 | $ | 2.3 | $ | 1.9 | |||||||||||||||||||||||||||||||||||||||||||||
Arcfield Acquisition Corp | (i)(v) | Capital Goods | L+575 | 0.8% | 3/10/28 | $ | 40.4 | 40.0 | 39.6 | |||||||||||||||||||||||||||||||||||||||||||||||
Arcfield Acquisition Corp | (x) | Capital Goods | L+575 | 0.8% | 3/10/27 | 7.1 | 7.1 | 6.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Arcos LLC/VA | (m) | Software & Services | L+575 | 1.0% | 3/31/28 | 12.4 | 12.2 | 11.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Arcos LLC/VA | (x) | Software & Services | L+575 | 1.0% | 4/20/27 | 4.5 | 4.5 | 4.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (v)(w) | Insurance | SA+700 | 0.8% | 7/14/26 | £ | 0.8 | 1.0 | 0.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (w)(x) | Insurance | L+575 | 0.8% | 7/14/26 | 16.7 | 22.8 | 21.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Arrotex Australia Group Pty Ltd | (v)(w) | Pharmaceuticals, Biotechnology & Life Sciences | B+525 | 1.0% | 7/10/24 | A$ | 42.6 | 30.9 | 27.4 | |||||||||||||||||||||||||||||||||||||||||||||||
Arrotex Australia Group Pty Ltd | (v)(w) | Pharmaceuticals, Biotechnology & Life Sciences | B+525 | 1.0% | 7/10/24 | 3.1 | 2.2 | 2.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp | (ad)(s)(v)(w) | Capital Goods | L+750 | 1.0% | 9/1/26 | $ | 41.1 | 41.1 | 41.1 | |||||||||||||||||||||||||||||||||||||||||||||||
AxiomSL Ltd | (f)(m)(t)(v) | Software & Services | L+600 | 1.0% | 12/3/27 | 34.8 | 34.2 | 34.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
AxiomSL Ltd | (x) | Software & Services | L+600 | 1.0% | 12/3/25 | 2.5 | 2.4 | 2.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
AxiomSL Ltd | (x) | Software & Services | L+600 | 1.0% | 12/3/27 | 2.3 | 2.3 | 2.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Barbri Inc | (f)(k)(l)(m)(t)(v) | Consumer Services | L+575 | 0.8% | 4/28/28 | 132.1 | 127.9 | 132.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Barbri Inc | (x) | Consumer Services | L+575 | 0.8% | 4/28/28 | 9.1 | 9.1 | 9.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc | (aa)(ac)(v) | Retailing | L+750 | 1.0% | 7/31/25 | 21.9 | 21.8 | 19.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc | (aa)(ac)(v)(y)(z) | Retailing | 5.0%, 8.0% PIK (8.0% Max PIK) | 7/31/25 | 69.9 | 43.5 | 12.9 | |||||||||||||||||||||||||||||||||||||||||||||||||
BGB Group LLC | (f)(i)(k)(l)(m)(t) | Media & Entertainment | L+575 | 1.0% | 8/16/27 | 111.4 | 110.4 | 109.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
BGB Group LLC | (x) | Media & Entertainment | L+575 | 1.0% | 8/16/27 | 19.9 | 19.9 | 19.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Bowery Farming Inc | (v) | Food, Beverage & Tobacco | L+1,000 | 1.0% | 4/30/26 | 75.0 | 74.4 | 70.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Caldic BV | (aa)(v)(w) | Retailing | E+350 | 0.0% | 2/4/29 | € | 0.8 | 0.9 | 0.7 | |||||||||||||||||||||||||||||||||||||||||||||||
Caldic BV | (aa)(v)(w) | Retailing | SF+375 | 0.5% | 2/26/29 | $ | 1.4 | 1.4 | 1.3 | |||||||||||||||||||||||||||||||||||||||||||||||
CFC Underwriting Ltd | (v)(w) | Insurance | SF+550, 0.0% PIK (2.8% Max PIK) | 0.5% | 5/16/29 | 39.5 | 38.5 | 38.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
CFC Underwriting Ltd | (w)(x) | Insurance | SA+550, 0.0% PIK (2.8% Max PIK) | 0.0% | 5/16/29 | £ | 4.7 | 5.7 | 5.6 | |||||||||||||||||||||||||||||||||||||||||||||||
Cimarron Energy Inc | (v)(y)(z) | Energy | L+900 | 1.0% | 12/31/24 | $ | 7.5 | 5.0 | 3.5 | |||||||||||||||||||||||||||||||||||||||||||||||
Clarience Technologies LLC | (v) | Capital Goods | SF+625 | 1.0% | 12/13/24 | 1.8 | 1.7 | 1.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Clarience Technologies LLC | (f)(i)(k)(m)(s)(v) | Capital Goods | SF+625 | 1.0% | 12/14/26 | 294.7 | 284.9 | 292.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Clarience Technologies LLC | (x) | Capital Goods | SF+625 | 1.0% | 12/13/24 | 23.6 | 23.6 | 23.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Community Brands Inc | (v) | Software & Services | SF+575 | 0.8% | 2/24/28 | 32.8 | 32.2 | 31.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Community Brands Inc | (x) | Software & Services | SF+575 | 0.8% | 2/24/28 | 3.9 | 3.8 | 3.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Community Brands Inc | (x) | Software & Services | SF+575 | 0.8% | 2/24/28 | 1.9 | 1.9 | 1.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Constellis Holdings LLC | (ac)(v) | Capital Goods | L+750 | 1.0% | 3/27/24 | 15.0 | 14.3 | 15.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Corsearch Intermediate Inc | (m)(v) | Software & Services | L+550 | 1.0% | 4/19/28 | 30.1 | 28.5 | 29.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Corsearch Intermediate Inc | (x) | Software & Services | L+550 | 1.0% | 4/19/28 | 4.4 | 4.4 | 4.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
CSafe Global | (f)(i)(k)(l)(m)(t)(v) | Capital Goods | L+625 | 0.8% | 12/23/27 | 187.3 | 181.8 | 187.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
CSafe Global | (v) | Capital Goods | L+625 | 0.8% | 12/23/27 | £ | 27.2 | 36.0 | 30.3 | |||||||||||||||||||||||||||||||||||||||||||||||
CSafe Global | (v) | Capital Goods | L+625 | 0.8% | 8/13/28 | $ | 11.8 | 11.8 | 11.8 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
CSafe Global | (x) | Capital Goods | L+625 | 0.8% | 12/23/26 | $ | 34.9 | $ | 34.9 | $ | 34.7 | |||||||||||||||||||||||||||||||||||||||||||||
Dental Care Alliance Inc | (f)(k)(m)(t)(v) | Health Care Equipment & Services | SF+600 | 0.8% | 4/3/28 | 131.3 | 127.4 | 129.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Dental Care Alliance Inc | (x) | Health Care Equipment & Services | SF+600 | 0.8% | 4/3/28 | 6.1 | 6.1 | 6.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Element Materials Technology Group US Holdings Inc | (aa)(v)(w) | Commercial & Professional Services | E+425 | 0.0% | 4/12/29 | € | 0.3 | 0.4 | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||||
Element Materials Technology Group US Holdings Inc | (aa)(v)(w) | Commercial & Professional Services | SF+425 | 0.5% | 6/22/29 | $ | 1.4 | 1.4 | 1.3 | |||||||||||||||||||||||||||||||||||||||||||||||
Encora Digital Inc | (v) | Software & Services | L+550, 0.0% PIK (2.4% Max PIK) | 0.8% | 12/20/28 | 65.1 | 63.9 | 62.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Encora Digital Inc | (x) | Software & Services | L+550 | 0.8% | 12/20/28 | 19.6 | 19.4 | 18.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Envirotainer Ltd | (w)(x) | Transportation | E+600, 0.0% PIK (3.0% Max PIK) | 0.0% | 7/30/29 | € | 2.7 | 2.7 | 2.7 | |||||||||||||||||||||||||||||||||||||||||||||||
Excelitas Technologies Corp | (v) | Technology Hardware & Equipment | SF+575 | 0.8% | 8/12/28 | $ | 1.0 | 1.0 | 1.0 | |||||||||||||||||||||||||||||||||||||||||||||||
Excelitas Technologies Corp | (v) | Technology Hardware & Equipment | E+575 | 0.0% | 8/12/29 | € | 4.1 | 4.1 | 3.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Excelitas Technologies Corp | (x) | Technology Hardware & Equipment | SF+575 | 0.8% | 8/12/28 | $ | 1.4 | 1.4 | 1.4 | |||||||||||||||||||||||||||||||||||||||||||||||
Excelitas Technologies Corp | (x) | Technology Hardware & Equipment | SF+575 | 0.8% | 8/12/29 | 4.7 | 4.7 | 4.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Follett Software Co | (f)(k)(l)(t) | Software & Services | L+575 | 0.8% | 8/31/28 | 73.9 | 73.2 | 72.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Follett Software Co | (x) | Software & Services | L+575 | 0.8% | 8/31/27 | 9.9 | 9.9 | 9.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Foundation Consumer Brands LLC | (m)(v) | Pharmaceuticals, Biotechnology & Life Sciences | L+550 | 1.0% | 2/12/27 | 85.6 | 82.1 | 86.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Foundation Consumer Brands LLC | (x) | Pharmaceuticals, Biotechnology & Life Sciences | L+550 | 1.0% | 2/12/27 | 6.6 | 6.6 | 6.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Foundation Risk Partners Corp | (v) | Insurance | L+550 | 0.8% | 10/29/27 | 0.4 | 0.3 | 0.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Foundation Risk Partners Corp | (v) | Insurance | L+550 | 0.8% | 10/29/28 | 65.8 | 64.9 | 64.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Foundation Risk Partners Corp | (v) | Insurance | L+550 | 0.8% | 10/29/28 | 14.3 | 14.2 | 13.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Foundation Risk Partners Corp | (x) | Insurance | L+550 | 0.8% | 10/29/27 | 6.6 | 6.6 | 6.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Frontline Technologies Group LLC | (i)(m)(v) | Software & Services | L+575 | 1.0% | 9/18/23 | 22.9 | 22.8 | 22.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Frontline Technologies Group LLC | (s) | Software & Services | L+575 | 1.0% | 9/18/23 | 26.7 | 25.8 | 26.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Frontline Technologies Group LLC | (v) | Software & Services | L+575 | 1.0% | 9/18/23 | 10.9 | 10.5 | 11.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Galaxy Universal LLC | (v) | Consumer Durables & Apparel | SF+575 | 0.0% | 6/24/23 | 7.5 | 7.5 | 7.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Galaxy Universal LLC | (v) | Consumer Durables & Apparel | SF+575 | 1.0% | 11/12/26 | 88.3 | 88.3 | 86.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Galaxy Universal LLC | (v) | Consumer Durables & Apparel | SF+500 | 1.0% | 11/12/26 | 22.5 | 22.3 | 22.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Galway Partners Holdings LLC | (k)(l)(m)(t)(v) | Insurance | L+525, 0.0% PIK (1.3% Max PIK) | 0.8% | 9/29/28 | 105.6 | 103.8 | 103.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Galway Partners Holdings LLC | (x) | Insurance | L+525, 0.0% PIK (1.3% Max PIK) | 0.8% | 9/30/27 | 12.0 | 11.8 | 11.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Galway Partners Holdings LLC | (x) | Insurance | L+525, 0.0% PIK (1.3% Max PIK) | 0.8% | 9/29/28 | 7.1 | 7.1 | 7.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
General Datatech LP | (f)(k)(l)(m)(t)(v) | Software & Services | L+625 | 1.0% | 6/18/27 | 157.4 | 156.1 | 148.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Gigamon Inc | (v) | Software & Services | SF+575 | 0.8% | 3/9/29 | 170.9 | 169.3 | 165.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Gigamon Inc | (x) | Software & Services | SF+575 | 0.8% | 3/10/28 | 9.3 | 9.3 | 9.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Gracent LLC | (v) | Health Care Equipment & Services | SF+550 | 1.0% | 2/28/27 | 25.9 | 26.8 | 23.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Gracent LLC | (v) | Health Care Equipment & Services | 12.0% PIK (12.0% Max PIK) | 2/28/27 | 22.2 | 22.8 | 15.9 | |||||||||||||||||||||||||||||||||||||||||||||||||
Greystone Equity Member Corp | (v)(w) | Diversified Financials | L+725 | 3.8% | 4/1/26 | 194.8 | 184.4 | 188.9 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Heniff Transportation Systems LLC | (v) | Transportation | L+575 | 1.0% | 12/3/24 | $ | 6.5 | $ | 6.3 | $ | 6.3 | |||||||||||||||||||||||||||||||||||||||||||||
Heniff Transportation Systems LLC | (f)(i)(k)(l)(m)(v) | Transportation | L+575 | 1.0% | 12/3/26 | 136.6 | 130.4 | 131.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Heniff Transportation Systems LLC | (v) | Transportation | L+625 | 1.0% | 12/3/26 | 19.2 | 18.5 | 18.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Heniff Transportation Systems LLC | (x) | Transportation | L+575 | 1.0% | 12/3/24 | 11.3 | 11.3 | 10.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Hibu Inc | (f)(k)(l)(m)(t)(v) | Commercial & Professional Services | SF+625 | 1.0% | 5/4/27 | 99.6 | 95.3 | 100.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Higginbotham Insurance Agency Inc | (v) | Insurance | L+550 | 0.8% | 11/25/26 | 1.4 | 1.4 | 1.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Higginbotham Insurance Agency Inc | (v) | Insurance | L+525 | 0.8% | 11/25/26 | 7.0 | 6.6 | 7.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Higginbotham Insurance Agency Inc | (x) | Insurance | L+550 | 0.8% | 11/25/26 | 8.9 | 8.9 | 9.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
HKA | (v)(w) | Commercial & Professional Services | SF+575, 0.0% PIK (1.8% Max PIK) | 0.5% | 8/9/29 | 3.5 | 3.4 | 3.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
HKA | (w)(x) | Commercial & Professional Services | SF+575, 0.0% PIK (1.8% Max PIK) | 0.5% | 8/9/29 | 1.1 | 1.1 | 1.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc | (ad)(v) | Capital Goods | L+600 PIK (L+600 Max PIK) | 1.0% | 6/30/26 | 35.6 | 35.6 | 35.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc | (ad)(x) | Capital Goods | L+600 PIK (L+600 Max PIK) | 1.0% | 6/30/26 | 2.0 | 2.0 | 2.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Individual FoodService | (m)(s) | Capital Goods | L+625 | 1.0% | 11/22/25 | 69.6 | 66.0 | 69.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Individual FoodService | (v) | Capital Goods | L+625 | 1.0% | 11/22/25 | 5.3 | 5.2 | 5.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Individual FoodService | (m)(v) | Capital Goods | L+625 | 1.0% | 11/22/25 | 16.8 | 16.8 | 16.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Individual FoodService | (v) | Capital Goods | L+625 | 1.0% | 11/22/25 | 4.0 | 4.0 | 4.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Individual FoodService | (v) | Capital Goods | L+625 | 1.0% | 11/22/25 | 8.0 | 8.0 | 8.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Individual FoodService | (x) | Capital Goods | L+625 | 1.0% | 11/22/24 | 4.8 | 4.7 | 4.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Individual FoodService | (x) | Capital Goods | L+625 | 1.0% | 11/22/25 | 1.8 | 1.8 | 1.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Industria Chimica Emiliana Srl | (v)(w) | Pharmaceuticals, Biotechnology & Life Sciences | E+725 | 0.0% | 9/27/26 | € | 88.8 | 101.9 | 85.6 | |||||||||||||||||||||||||||||||||||||||||||||||
Industry City TI Lessor LP | (s)(v) | Consumer Services | 10.8%, 1.0% PIK (1.0% Max PIK) | 6/30/26 | $ | 26.7 | 26.8 | 27.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Insight Global LLC | (i)(v) | Commercial & Professional Services | L+600 | 0.8% | 9/22/28 | 203.8 | 202.0 | 200.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Insight Global LLC | (x) | Commercial & Professional Services | L+600 | 0.8% | 9/22/27 | 21.1 | 21.1 | 20.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Insight Global LLC | (x) | Commercial & Professional Services | L+600 | 0.8% | 9/22/28 | 26.8 | 26.8 | 26.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Integrity Marketing Group LLC | (v) | Insurance | SF+550 | 0.8% | 8/27/25 | 124.7 | 124.7 | 122.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
J S Held LLC | (f)(i)(m)(s)(v) | Insurance | L+550 | 1.0% | 7/1/25 | 125.5 | 123.3 | 125.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
J S Held LLC | (v) | Insurance | L+550 | 1.0% | 7/1/25 | 1.7 | 1.5 | 1.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
J S Held LLC | (f)(v) | Insurance | SF+550 | 1.0% | 7/1/25 | 23.2 | 23.2 | 23.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
J S Held LLC | (x) | Insurance | L+550 | 1.0% | 7/1/25 | 12.4 | 12.4 | 12.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
J S Held LLC | (x) | Insurance | SF+550 | 1.0% | 7/1/25 | 21.0 | 21.0 | 20.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Jarrow Formulas Inc | (f)(i)(k)(l)(m)(s)(t)(v) | Household & Personal Products | L+625 | 1.0% | 11/30/26 | 183.0 | 174.9 | 184.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Karman Space Inc | (m)(v) | Capital Goods | L+700 | 1.0% | 12/21/25 | 52.5 | 50.1 | 52.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Karman Space Inc | (v) | Capital Goods | L+700 | 1.0% | 12/21/25 | 5.2 | 5.0 | 5.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Karman Space Inc | (v) | Capital Goods | L+700 | 1.0% | 12/21/25 | 38.1 | 37.5 | 38.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Karman Space Inc | (x) | Capital Goods | L+700 | 1.0% | 12/21/25 | 0.3 | 0.3 | 0.3 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Kellermeyer Bergensons Services LLC | (f)(i)(k)(l)(m)(s)(t)(v) | Commercial & Professional Services | L+600 | 1.0% | 11/7/26 | $ | 369.9 | $ | 359.3 | $ | 353.2 | |||||||||||||||||||||||||||||||||||||||||||||
Lakefield Veterinary Group | (f)(i)(v) | Health Care Equipment & Services | L+550 | 0.8% | 11/23/28 | 103.8 | 103.0 | 100.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lakefield Veterinary Group | (x) | Health Care Equipment & Services | L+550 | 0.8% | 11/23/28 | 40.0 | 40.0 | 38.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lakeview Farms Inc | (l)(m)(v) | Food, Beverage & Tobacco | L+625 | 1.0% | 6/10/27 | 76.4 | 74.7 | 73.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lakeview Farms Inc | (v) | Food, Beverage & Tobacco | L+625 | 1.0% | 6/10/27 | 5.0 | 5.0 | 4.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lakeview Farms Inc | (x) | Food, Beverage & Tobacco | L+625 | 1.0% | 6/10/27 | 10.8 | 10.8 | 10.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lakeview Farms Inc | (x) | Food, Beverage & Tobacco | L+625 | 1.0% | 6/10/27 | 1.8 | 1.8 | 1.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lexitas Inc | (v) | Commercial & Professional Services | SF+625 | 1.0% | 5/18/29 | 6.4 | 6.4 | 6.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lexitas Inc | (i)(k)(l)(m)(v) | Commercial & Professional Services | SF+625 | 1.0% | 5/18/29 | 121.2 | 118.2 | 119.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lexitas Inc | (x) | Commercial & Professional Services | SF+625 | 1.0% | 5/18/29 | 8.4 | 8.4 | 8.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lexitas Inc | (x) | Commercial & Professional Services | SF+625 | 1.0% | 5/18/29 | 5.9 | 5.9 | 5.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lionbridge Technologies Inc | (f)(k)(m)(s)(t)(v) | Media & Entertainment | SF+700 | 1.0% | 12/29/25 | 124.4 | 120.4 | 125.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lipari Foods LLC | (f)(m)(s)(v) | Food & Staples Retailing | SF+575 | 1.0% | 1/6/25 | 228.5 | 221.1 | 228.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lipari Foods LLC | (f)(s)(v) | Food & Staples Retailing | SF+575 | 1.0% | 1/6/25 | 40.0 | 38.9 | 40.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lrqa Ltd | (v)(w) | Consumer Services | SA+600, 0.0% PIK (6.3% Max PIK) | 0.0% | 12/2/28 | £ | 5.7 | 7.4 | 6.2 | |||||||||||||||||||||||||||||||||||||||||||||||
Lrqa Ltd | (w)(x) | Consumer Services | SA+600, 0.0% PIK (6.3% Max PIK) | 0.0% | 12/2/28 | 9.3 | 12.6 | 12.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Matchesfashion Ltd | (v)(w)(y)(z) | Consumer Durables & Apparel | L+463, 3.0% PIK (3.0% Max PIK) | 0.0% | 10/11/24 | $ | 13.1 | 12.7 | 6.2 | |||||||||||||||||||||||||||||||||||||||||||||||
MB2 Dental Solutions LLC | (k)(l)(m)(t)(v) | Health Care Equipment & Services | SF+600 | 1.0% | 1/29/27 | 273.7 | 264.4 | 270.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Medallia Inc | (v) | Software & Services | L+675 PIK (L+675 Max PIK) | 0.8% | 10/29/28 | 205.1 | 203.1 | 203.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Med-Metrix | (v) | Software & Services | L+600 | 1.0% | 9/15/27 | 56.3 | 55.8 | 56.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Med-Metrix | (x) | Software & Services | L+600 | 1.0% | 9/15/27 | 25.0 | 25.0 | 25.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Med-Metrix | (x) | Software & Services | L+600 | 1.0% | 9/15/27 | 7.8 | 7.8 | 7.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Miami Beach Medical Group LLC | (k)(l)(m)(t)(v) | Health Care Equipment & Services | SF+800, 1.5% PIK (1.5% Max PIK) | 1.0% | 12/14/26 | 140.5 | 134.1 | 130.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Miami Beach Medical Group LLC | (v) | Health Care Equipment & Services | SF+800, 1.5% PIK (1.5% Max PIK) | 1.0% | 12/14/26 | 23.3 | 22.1 | 21.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Monitronics International Inc | (aa)(f)(v) | Commercial & Professional Services | L+750 | 1.3% | 3/29/24 | 18.7 | 17.5 | 12.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Monitronics International Inc | (v) | Commercial & Professional Services | L+600 | 1.5% | 7/3/24 | 58.4 | 56.4 | 54.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Monitronics International Inc | (x) | Commercial & Professional Services | L+600 | 1.5% | 7/3/24 | 11.6 | 11.6 | 10.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Motion Recruitment Partners LLC | (f)(i)(v) | Commercial & Professional Services | SF+650 | 1.0% | 12/20/25 | 64.2 | 64.2 | 64.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Motion Recruitment Partners LLC | (m)(t)(v) | Commercial & Professional Services | L+650 | 1.0% | 12/22/25 | 54.8 | 51.2 | 54.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Motion Recruitment Partners LLC | (v) | Commercial & Professional Services | SF+650 | 1.0% | 12/22/25 | 4.7 | 4.5 | 4.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Motion Recruitment Partners LLC | (x) | Commercial & Professional Services | SF+650 | 1.0% | 12/22/25 | 59.6 | 59.6 | 59.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
NBG Home | (v)(y)(z) | Consumer Durables & Apparel | L+550 | 1.0% | 4/26/24 | 76.4 | 71.9 | 28.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
NCI Inc | (v) | Software & Services | L+750, 0.0% PIK (2.5% Max PIK) | 1.0% | 8/15/24 | 77.3 | 76.4 | 55.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Documents | (v) | Software & Services | L+625 | 1.0% | 6/30/27 | 24.6 | 24.4 | 24.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Documents | (v) | Software & Services | L+625 | 1.0% | 6/30/27 | 2.0 | 2.0 | 2.0 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Documents | (x) | Software & Services | L+625 | 1.0% | 6/30/27 | $ | 7.4 | $ | 7.3 | $ | 7.2 | |||||||||||||||||||||||||||||||||||||||||||||
Net Documents | (x) | Software & Services | L+625 | 1.0% | 6/30/27 | 0.9 | 0.9 | 0.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
New Era Technology Inc | (i)(l)(m)(t)(v) | Software & Services | L+625 | 1.0% | 10/31/26 | 51.2 | 49.7 | 50.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
New Era Technology Inc | (v) | Software & Services | L+625 | 1.0% | 10/31/26 | 2.1 | 2.1 | 2.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
New Era Technology Inc | (x) | Software & Services | L+625 | 1.0% | 10/31/26 | 2.6 | 2.6 | 2.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Novotech Pty Ltd | (w)(x) | Health Care Equipment & Services | SF+525 | 0.5% | 1/13/28 | 5.7 | 5.6 | 5.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
NPD Group Inc/The | (v) | Consumer Services | SF+350, 2.8% PIK (2.8% Max PIK) | 0.8% | 12/1/28 | 19.0 | 19.0 | 19.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
NPD Group Inc/The | (x) | Consumer Services | L+575 | 0.8% | 12/1/27 | 1.0 | 1.0 | 1.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Omnimax International Inc | (f)(i)(k)(l)(m)(v) | Capital Goods | SF+850 | 1.0% | 10/8/26 | 155.6 | 149.7 | 148.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Omnimax International Inc | (v) | Capital Goods | SF+800 | 1.0% | 10/8/26 | 22.1 | 21.1 | 21.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Omnimax International Inc | (v) | Capital Goods | SF+800 | 1.0% | 10/8/26 | 14.6 | 13.9 | 14.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc | (aa)(ad)(v) | Health Care Equipment & Services | L+550 | 0.8% | 4/22/27 | 4.9 | 4.7 | 3.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Oxford Global Resources LLC | (f)(k)(l)(m)(t) | Commercial & Professional Services | SF+600 | 1.0% | 8/17/27 | 87.7 | 87.0 | 87.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Oxford Global Resources LLC | (v) | Commercial & Professional Services | SF+600 | 1.0% | 8/17/27 | 3.2 | 3.2 | 3.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Oxford Global Resources LLC | (x) | Commercial & Professional Services | SF+600 | 1.0% | 8/17/27 | 15.3 | 15.3 | 15.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Oxford Global Resources LLC | (x) | Commercial & Professional Services | SF+600 | 1.0% | 8/17/27 | 4.4 | 4.4 | 4.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
P2 Energy Solutions Inc. | (v) | Software & Services | L+675 | 1.0% | 1/31/25 | 3.7 | 3.5 | 3.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
P2 Energy Solutions Inc. | (i)(k)(m)(s)(t)(v) | Software & Services | L+675 | 1.0% | 2/2/26 | 247.2 | 233.2 | 242.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
P2 Energy Solutions Inc. | (x) | Software & Services | L+675 | 1.0% | 1/31/25 | 11.4 | 11.4 | 11.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Parts Town LLC | (v) | Retailing | L+550 | 0.8% | 11/1/28 | 100.6 | 99.7 | 97.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
PartsSource Inc | (v) | Health Care Equipment & Services | L+575 | 0.8% | 8/23/28 | 65.3 | 64.6 | 64.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
PartsSource Inc | (x) | Health Care Equipment & Services | L+575 | 0.8% | 8/21/26 | 4.3 | 4.2 | 4.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
PartsSource Inc | (x) | Health Care Equipment & Services | L+575 | 0.8% | 8/23/28 | 22.9 | 22.6 | 22.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Performance Health Holdings Inc | (f)(i)(m)(v) | Health Care Equipment & Services | L+600 | 1.0% | 7/12/27 | 108.3 | 107.4 | 107.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Premium Credit Ltd | (v)(w) | Diversified Financials | SA+650 | 0.0% | 1/16/26 | £ | 55.9 | 73.1 | 62.2 | |||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | (ad)(v) | Media & Entertainment | L+500, 3.1% PIK (3.1% Max PIK) | 1.0% | 8/21/24 | $ | 62.3 | 59.2 | 64.2 | |||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | (ad)(v) | Media & Entertainment | L+300, 5.5% PIK (5.5% Max PIK) | 0.3% | 8/21/24 | 146.4 | 140.0 | 149.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | (ad)(v) | Media & Entertainment | L+550 PIK (L+550 Max PIK) | 1.0% | 8/21/24 | 0.1 | 0.1 | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | (ad)(v) | Media & Entertainment | L+500, 3.1% PIK (3.1% Max PIK) | 1.0% | 8/21/24 | 34.3 | 34.1 | 34.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Propulsion Acquisition LLC | (f)(l)(s)(t)(v) | Capital Goods | L+700 | 1.0% | 7/13/24 | 60.0 | 57.3 | 60.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
PSKW LLC (dba ConnectiveRx) | (i)(l)(s)(t)(v) | Health Care Equipment & Services | L+625 | 1.0% | 3/9/26 | 292.5 | 283.0 | 292.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Pure Fishing Inc | (aa)(v) | Consumer Durables & Apparel | L+450 | 0.0% | 12/22/25 | 33.8 | 33.2 | 28.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Qdoba Restaurant Corp | (aa)(m)(v) | Consumer Services | L+700 | 1.0% | 3/21/25 | 10.9 | 10.8 | 10.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Radwell International LLC/PA | (v) | Capital Goods | SF+575 | 0.8% | 4/1/29 | 1.0 | 1.0 | 1.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Reliant Rehab Hospital Cincinnati LLC | (f)(i)(l)(m)(s)(v) | Health Care Equipment & Services | L+625 | 0.0% | 2/28/26 | 106.8 | 101.4 | 89.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Revere Superior Holdings Inc | (m)(v) | Software & Services | L+575 | 1.0% | 9/30/26 | 33.6 | 32.9 | 33.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Revere Superior Holdings Inc | (v) | Software & Services | L+575 | 1.0% | 9/30/26 | 1.5 | 1.5 | 1.5 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Revere Superior Holdings Inc | (x) | Software & Services | L+575 | 1.0% | 9/30/26 | $ | 1.7 | $ | 1.7 | $ | 1.7 | |||||||||||||||||||||||||||||||||||||||||||||
Rise Baking Company | (v) | Food, Beverage & Tobacco | L+650 | 1.0% | 8/13/27 | 3.7 | 3.6 | 3.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Rise Baking Company | (l)(m) | Food, Beverage & Tobacco | L+650 | 1.0% | 8/13/27 | 28.6 | 28.0 | 26.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Rise Baking Company | (x) | Food, Beverage & Tobacco | L+650 | 1.0% | 8/13/27 | 1.6 | 1.6 | 1.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
RSC Insurance Brokerage Inc | (i)(k)(l)(m)(s)(v) | Insurance | SF+550 | 0.8% | 10/30/26 | 240.6 | 234.7 | 239.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
RSC Insurance Brokerage Inc | (x) | Insurance | SF+550 | 0.8% | 10/30/26 | 7.7 | 7.6 | 7.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Safe-Guard Products International LLC | (f) | Diversified Financials | L+500 | 0.5% | 1/27/27 | 0.1 | 0.1 | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
SAMBA Safety Inc | (v) | Software & Services | L+525 | 1.0% | 9/1/27 | 6.1 | 6.0 | 6.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
SAMBA Safety Inc | (v) | Software & Services | L+525 | 1.0% | 9/1/27 | 0.6 | 0.6 | 0.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
SAMBA Safety Inc | (x) | Software & Services | L+525 | 1.0% | 9/1/27 | 1.8 | 1.8 | 1.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
SavATree LLC | (v) | Consumer Services | L+550 | 0.8% | 10/12/28 | 3.2 | 3.1 | 3.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
SavATree LLC | (x) | Consumer Services | L+550 | 0.8% | 10/12/28 | 6.3 | 6.3 | 6.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
SavATree LLC | (x) | Consumer Services | L+550 | 0.8% | 10/12/28 | 6.3 | 6.3 | 6.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sequa Corp | (aa)(m)(v) | Capital Goods | L+675, 0.0% PIK (1.0% Max PIK) | 1.0% | 11/28/23 | 8.3 | 8.1 | 8.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sequel Youth & Family Services LLC | (v)(y)(z) | Health Care Equipment & Services | 3.0% | 2/28/25 | 57.2 | 8.9 | 1.6 | |||||||||||||||||||||||||||||||||||||||||||||||||
SitusAMC Holdings Corp | (k)(l)(v) | Real Estate | L+575 | 0.8% | 12/22/27 | 55.3 | 54.8 | 53.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sorenson Communications LLC | (aa)(f)(k)(t) | Telecommunication Services | L+550 | 0.8% | 3/17/26 | 34.7 | 32.7 | 33.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Source Code LLC | (k)(l)(t) | Software & Services | SF+650 | 1.0% | 6/30/27 | 52.9 | 52.0 | 51.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Source Code LLC | (x) | Software & Services | SF+650 | 1.0% | 6/30/27 | 15.3 | 15.0 | 15.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Spins LLC | (m)(s)(t)(v) | Software & Services | L+550 | 1.0% | 1/20/27 | 68.4 | 65.4 | 69.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Spins LLC | (x) | Software & Services | L+550 | 1.0% | 1/20/27 | 16.5 | 16.5 | 16.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Spins LLC | (x) | Software & Services | L+550 | 1.0% | 1/20/27 | 7.9 | 7.9 | 7.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Staples Canada | (v)(w) | Retailing | C+700 | 1.0% | 9/12/24 | C$ | 31.8 | 24.9 | 23.6 | |||||||||||||||||||||||||||||||||||||||||||||||
Summit Interconnect Inc | (f)(k)(l)(m)(t)(v) | Capital Goods | SF+600 | 1.0% | 9/22/28 | $ | 97.5 | 96.6 | 93.1 | |||||||||||||||||||||||||||||||||||||||||||||||
Summit Interconnect Inc | (v) | Capital Goods | SF+600 | 1.0% | 9/22/28 | 39.3 | 39.3 | 37.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Summit Interconnect Inc | (x) | Capital Goods | SF+600 | 1.0% | 9/22/28 | 9.4 | 9.4 | 9.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc | (ac)(v) | Software & Services | L+100, 8.5% PIK (8.5% Max PIK) | 0.0% | 10/31/22 | 4.5 | 4.5 | 4.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc | (ac)(v)(y)(z) | Software & Services | SF+375, 3.8% PIK (3.8% Max PIK) | 1.0% | 7/1/24 | 6.0 | 5.8 | 0.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc | (ac)(x) | Software & Services | L+100, 8.5% PIK (8.5% Max PIK) | 0.0% | 10/31/22 | 1.7 | 1.7 | 1.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sweeping Corp of America Inc | (m)(v) | Commercial & Professional Services | L+575 | 1.0% | 11/30/26 | 72.4 | 70.3 | 72.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sweeping Corp of America Inc | (x) | Commercial & Professional Services | L+575 | 1.0% | 11/30/26 | 5.7 | 5.7 | 5.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Tangoe LLC | (m)(s)(v) | Software & Services | L+650 | 1.0% | 11/28/25 | 179.5 | 164.4 | 146.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Tangoe LLC | (m)(s)(v) | Software & Services | 12.5% PIK (12.5% Max PIK) | 11/28/25 | 2.0 | 2.0 | 1.5 | |||||||||||||||||||||||||||||||||||||||||||||||||
Tekfor HoldCo (formerly Amtek Global Technology Pte Ltd) | (ad)(v)(w)(y) | Automobiles & Components | € | 42.9 | 48.6 | 10.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||
ThermaSys Corp | (ac)(v)(y)(z) | Capital Goods | L+1,100 PIK (L+1,100 Max PIK) | 1.0% | 1/1/24 | $ | 9.3 | 8.3 | 5.7 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
ThreeSixty Group | (m)(v) | Retailing | SF+500, 2.5% PIK (2.5% Max PIK) | 1.5% | 3/1/24 | $ | 46.2 | $ | 46.1 | $ | 44.8 | |||||||||||||||||||||||||||||||||||||||||||||
ThreeSixty Group | (m)(v) | Retailing | SF+500, 2.5% PIK (2.5%% Max PIK) | 1.5% | 3/1/24 | 45.9 | 45.9 | 44.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
TIBCO Software Inc | (aa)(ab)(v) | Software & Services | SF+450 | 0.5% | 3/30/29 | 39.9 | 36.3 | 35.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Time Manufacturing Co | (v) | Capital Goods | L+650 | 0.8% | 12/1/27 | 45.5 | 44.6 | 43.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Time Manufacturing Co | (v) | Capital Goods | L+650 | 0.8% | 12/1/27 | 5.7 | 5.7 | 5.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Time Manufacturing Co | (v) | Capital Goods | E+650 | 0.8% | 12/1/27 | € | 13.7 | 14.5 | 12.7 | |||||||||||||||||||||||||||||||||||||||||||||||
Time Manufacturing Co | (x) | Capital Goods | L+650 | 0.8% | 12/1/27 | $ | 16.4 | 16.4 | 15.5 | |||||||||||||||||||||||||||||||||||||||||||||||
Transaction Services Group Ltd | (v)(w) | Software & Services | B+650 | 0.0% | 10/15/26 | A$ | 48.3 | 34.0 | 30.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Transaction Services Group Ltd | (v)(w) | Software & Services | L+650 | 0.0% | 10/15/26 | $ | 126.2 | 122.7 | 125.5 | |||||||||||||||||||||||||||||||||||||||||||||||
Ultra Electronics Holdings PLC | (aa)(v)(w) | Capital Goods | L+375 | 0.5% | 8/6/29 | 1.8 | 1.8 | 1.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Ultra Electronics Holdings PLC | (aa)(v)(w) | Capital Goods | E+375 | 0.0% | 8/6/29 | € | 1.4 | 1.6 | 1.2 | |||||||||||||||||||||||||||||||||||||||||||||||
Version1 Software Ltd | (v)(w) | Software & Services | E+575, 0.0% PIK (1.7% Max PIK) | 0.0% | 7/11/29 | 2.5 | 2.4 | 2.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Version1 Software Ltd | (v)(w) | Software & Services | SA+575, 0.0% PIK (1.7% Max PIK) | 0.0% | 7/11/29 | £ | 4.0 | 4.7 | 4.4 | |||||||||||||||||||||||||||||||||||||||||||||||
Version1 Software Ltd | (w)(x) | Software & Services | E+575, 0.0% PIK (1.7% Max PIK) | 0.0% | 7/11/29 | € | 2.4 | 2.4 | 2.3 | |||||||||||||||||||||||||||||||||||||||||||||||
VetCor Professional Practices LLC | (v) | Health Care Equipment & Services | SF+575 | 0.8% | 8/31/29 | $ | 75.2 | 74.3 | 74.5 | |||||||||||||||||||||||||||||||||||||||||||||||
VetCor Professional Practices LLC | (x) | Health Care Equipment & Services | SF+575 | 0.8% | 8/31/29 | 18.0 | 18.0 | 17.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
VetCor Professional Practices LLC | (x) | Health Care Equipment & Services | SF+575 | 0.8% | 8/31/29 | 6.7 | 6.6 | 6.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Warren Resources Inc | (ad)(v) | Energy | L+900, 1.0% PIK (1.0% Max PIK) | 1.0% | 5/22/24 | 18.6 | 17.6 | 18.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Wealth Enhancement Group LLC | (v)(w) | Diversified Financials | SF+600 | 1.0% | 10/4/27 | 28.7 | 28.6 | 28.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Wealth Enhancement Group LLC | (w)(x) | Diversified Financials | SF+600 | 1.0% | 10/4/27 | 5.7 | 5.7 | 5.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Wealth Enhancement Group LLC | (w)(x) | Diversified Financials | SF+600 | 1.0% | 10/29/27 | 2.1 | 2.1 | 2.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Woolpert Inc | (f)(k)(l)(m)(t)(v) | Capital Goods | L+600 | 1.0% | 4/5/28 | 159.9 | 153.8 | 154.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Woolpert Inc | (x) | Capital Goods | L+600 | 1.0% | 4/5/28 | 3.7 | 3.7 | 3.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Worldwise Inc | (v) | Household & Personal Products | SF+625 | 1.0% | 3/29/28 | 26.6 | 26.6 | 25.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Worldwise Inc | (v) | Household & Personal Products | SF+625 | 1.0% | 3/29/28 | 20.1 | 19.9 | 19.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Worldwise Inc | (v) | Household & Personal Products | SF+625 | 1.0% | 3/29/28 | 6.8 | 6.8 | 6.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Worldwise Inc | (x) | Household & Personal Products | SF+625 | 1.0% | 3/29/28 | 15.5 | 15.5 | 14.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Worldwise Inc | (x) | Household & Personal Products | SF+625 | 1.0% | 3/29/28 | 7.4 | 7.4 | 7.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total Senior Secured Loans—First Lien | 10,961.6 | 10,719.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unfunded Loan Commitments | (938.6) | (938.6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Senior Secured Loans—First Lien | 10,023.0 | 9,780.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—Second Lien—17.4% |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Advanced Lighting Technologies Inc | (v)(y)(z) | Materials | L+600, 0.0% PIK (16.0% Max PIK) | 1.0% | 3/16/27 | $ | 12.8 | $ | 10.5 | $ | 3.2 | |||||||||||||||||||||||||||||||||||||||||||||
Ammeraal Beltech Holding BV | (f)(s)(v)(w) | Capital Goods | L+775 | 0.0% | 9/12/26 | 23.6 | 21.7 | 23.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Apex Group Limited | (v)(w) | Diversified Financials | L+675 | 0.5% | 7/27/29 | 55.0 | 54.0 | 53.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc | (ac)(v)(y)(z) | Retailing | 10.0% PIK (10.0% Max PIK) | 7/31/25 | 27.5 | 4.2 | 3.7 | |||||||||||||||||||||||||||||||||||||||||||||||||
Byrider Finance LLC | (u)(v)(y)(z) | Automobiles & Components | SF+1,600 | 1.3% | 7/7/23 | 54.4 | 53.2 | 14.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Caldic BV | (v)(w) | Retailing | SF+725 | 0.5% | 12/30/29 | 40.0 | 39.0 | 38.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Constellis Holdings LLC | (ac)(v) | Capital Goods | L+1,100, 0.0% PIK (5.0% Max PIK) | 1.0% | 3/27/25 | 13.5 | 12.7 | 13.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Cubic Corp | (v) | Software & Services | L+763 | 0.8% | 5/25/29 | 44.8 | 42.1 | 41.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Element Materials Technology Group US Holdings Inc | (v)(w) | Commercial & Professional Services | SA+725 | 0.5% | 6/24/30 | £ | 5.0 | 5.7 | 5.3 | |||||||||||||||||||||||||||||||||||||||||||||||
Ellucian Inc | (v) | Software & Services | L+800 | 1.0% | 10/9/28 | $ | 179.2 | 170.8 | 178.1 | |||||||||||||||||||||||||||||||||||||||||||||||
Misys Ltd | (aa)(v)(w) | Software & Services | L+725 | 1.0% | 6/13/25 | 16.3 | 15.5 | 13.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
NBG Home | (v)(y)(z) | Consumer Durables & Apparel | L+1,275 PIK (L+1,275 Max PIK) | 1.0% | 9/30/24 | 34.6 | 29.4 | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
OEConnection LLC | (f)(v) | Software & Services | L+700 | 0.5% | 9/25/27 | 76.1 | 75.7 | 73.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Peraton Corp | (s)(v) | Capital Goods | L+800 | 1.0% | 2/1/29 | 175.0 | 166.0 | 172.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Peraton Corp | (v) | Capital Goods | L+775 | 0.8% | 2/1/29 | 130.4 | 124.7 | 129.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Pure Fishing Inc | (m)(v) | Consumer Durables & Apparel | L+838 | 1.0% | 12/21/26 | 100.0 | 95.1 | 86.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Solera LLC | (aa)(v) | Software & Services | L+800 | 1.0% | 6/4/29 | 312.4 | 296.9 | 307.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc | (ac)(v)(y)(z) | Software & Services | SF+400, 2.8% PIK (2.8% Max PIK) | 1.0% | 8/1/24 | 15.0 | 13.5 | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Valeo Foods Group Ltd | (v)(w) | Food, Beverage & Tobacco | E+750 | 0.0% | 10/1/29 | € | 3.8 | 4.0 | 3.5 | |||||||||||||||||||||||||||||||||||||||||||||||
Valeo Foods Group Ltd | (w)(x) | Food, Beverage & Tobacco | E+750 | 0.0% | 10/1/29 | 2.3 | 3.1 | 3.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Vantage Specialty Chemicals Inc | (aa)(v) | Materials | L+825 | 1.0% | 10/27/25 | $ | 0.8 | 0.7 | 0.7 | |||||||||||||||||||||||||||||||||||||||||||||||
Wittur Holding GmbH | (v)(w) | Capital Goods | E+850, 0.5% PIK (0.5% Max PIK) | 0.0% | 9/23/27 | € | 113.1 | 122.0 | 82.7 | |||||||||||||||||||||||||||||||||||||||||||||||
Total Senior Secured Loans—Second Lien | 1,360.5 | 1,247.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unfunded Loan Commitments | (3.1) | (3.1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Senior Secured Loans—Second Lien | 1,357.4 | 1,244.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Senior Secured Debt—1.5% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Angelica Corp | (h)(y)(z) | Health Care Equipment & Services | 10.0% PIK (10.0% Max PIK) | 12/30/22 | 56.1 | 42.3 | 0.9 | |||||||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co | (aa)(ad)(s)(v) | Materials | 10.3% | 6/1/26 | 76.5 | 75.6 | 78.5 | |||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc | (ad)(v) | Health Care Equipment & Services | 8.5% PIK (8.5% Max PIK) | 11/1/28 | 24.5 | 22.8 | 21.2 | |||||||||||||||||||||||||||||||||||||||||||||||||
TIBCO Software Inc | (aa)(v) | Software & Services | 6.5% | 3/31/29 | 1.0 | 0.8 | 0.8 | |||||||||||||||||||||||||||||||||||||||||||||||||
TruckPro LLC | (aa)(v) | Capital Goods | 11.0% | 10/15/24 | 9.2 | 9.2 | 9.0 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Other Senior Secured Debt | 150.7 | 110.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt—3.6% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (aa)(v)(w) | Insurance | 12.8% PIK (12.8% Max PIK) | 1/15/27 | $ | 1.0 | $ | 1.0 | $ | 1.0 | ||||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp | (ab)(ad)(s)(v)(w) | Capital Goods | 10.0% PIK (10.0% Max PIK) | 9/1/28 | 21.8 | 8.1 | 16.6 | |||||||||||||||||||||||||||||||||||||||||||||||||
Element Materials Technology Group US Holdings Inc | (v)(w) | Commercial & Professional Services | SF+850 PIK (SF+850 Max PIK) | 0.5% | 7/9/31 | 65.9 | 64.4 | 63.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Encora Digital Inc | (v) | Software & Services | 9.8% PIK (9.8% Max PIK) | 12/13/29 | 22.6 | 22.0 | 21.4 | |||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders | (ad)(v)(w)(y) | Consumer Durables & Apparel | € | 135.2 | 26.9 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders | (ad)(v)(w)(y)(z) | Consumer Durables & Apparel | 13.0% PIK (13.0% Max PIK) | 11/30/25 | 143.2 | 99.4 | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Sorenson Communications LLC | (j)(u)(v)(y) | Telecommunication Services | $ | 9.7 | 8.9 | 9.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Sorenson Communications LLC | (j)(u)(v)(y) | Telecommunication Services | 39.5 | 32.0 | 32.9 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Ultra Electronics Holdings PLC | (v)(w) | Capital Goods | L+725 | 0.5% | 1/31/30 | 62.4 | 60.6 | 58.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Ultra Electronics Holdings PLC | (v)(w) | Capital Goods | L+900, 0.0% PIK (9.0% Max PIK) | 0.5% | 1/31/31 | 58.2 | 56.5 | 52.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total Subordinated Debt | 379.8 | 255.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c)/ Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||
Asset Based Finance—25.5% | ||||||||||||||||||||||||||||||||||||||||||||||||||
801 5th Ave, Seattle, Private Equity | (ad)(v)(w)(y) | Real Estate | 8,554,983 | $ | 14.1 | $ | 14.3 | |||||||||||||||||||||||||||||||||||||||||||
801 5th Ave, Seattle, Structure Mezzanine | (ad)(v)(w) | Real Estate | 8.0%, 3.0% PIK (3.0% Max PIK) | 12/19/29 | $ | 57.2 | 55.3 | 57.2 | ||||||||||||||||||||||||||||||||||||||||||
Abacus JV, Private Equity | (v)(w) | Insurance | 49,223,047 | 48.2 | 52.3 | |||||||||||||||||||||||||||||||||||||||||||||
Accelerator Investments Aggregator LP, Private Equity | (v)(w)(y) | Diversified Financials | 3,869,291 | 4.5 | 3.0 | |||||||||||||||||||||||||||||||||||||||||||||
Altavair AirFinance, Private Equity | (v)(w) | Capital Goods | 118,783,852 | 119.7 | 135.1 | |||||||||||||||||||||||||||||||||||||||||||||
Australis Maritime, Common Stock | (v)(w) | Transportation | 43,151,590 | 41.7 | 43.6 | |||||||||||||||||||||||||||||||||||||||||||||
Avenue One PropCo, Private Equity | (ad)(v)(w)(y) | Real Estate | 41,348,722 | 41.3 | 41.3 | |||||||||||||||||||||||||||||||||||||||||||||
Avida Holding AB, Common Stock | (ad)(v)(w)(y) | Diversified Financials | 405,023,756 | 44.6 | 37.7 | |||||||||||||||||||||||||||||||||||||||||||||
Byrider Finance LLC, Structured Mezzanine | (v) | Automobiles & Components | L+1,050 | 0.3% | 6/3/28 | $ | 10.6 | 10.6 | 10.6 | |||||||||||||||||||||||||||||||||||||||||
Byrider Finance LLC, Structured Mezzanine | (x) | Automobiles & Components | L+1,050 | 0.3% | 6/3/28 | $ | 12.4 | 12.4 | 12.3 | |||||||||||||||||||||||||||||||||||||||||
Callodine Commercial Finance LLC, 2L Term Loan A | (v) | Diversified Financials | L+900 | 1.0% | 11/3/25 | $ | 125.0 | 119.0 | 126.0 | |||||||||||||||||||||||||||||||||||||||||
Callodine Commercial Finance LLC, 2L Term Loan B | (v) | Diversified Financials | L+900 | 1.0% | 11/3/25 | $ | 12.0 | 12.0 | 12.1 | |||||||||||||||||||||||||||||||||||||||||
Callodine Commercial Finance LLC, 2L Term Loan B | (x) | Diversified Financials | L+900 | 1.0% | 11/3/25 | $ | 36.1 | 36.1 | 36.3 | |||||||||||||||||||||||||||||||||||||||||
Capital Automotive LP, Private Equity | (v)(w) | Real Estate | 21,640,936 | 23.7 | 27.2 | |||||||||||||||||||||||||||||||||||||||||||||
Capital Automotive LP, Structured Mezzanine | (v)(w) | Real Estate | 11.0% | 12/22/28 | $ | 42.7 | 41.9 | 42.7 | ||||||||||||||||||||||||||||||||||||||||||
Global Jet Capital LLC, Preferred Stock | (j)(u)(v)(y) | Commercial & Professional Services | 149,494,590 | 69.4 | — | |||||||||||||||||||||||||||||||||||||||||||||
Global Jet Capital LLC, Preferred Stock | (j)(u)(v)(y)(z) | Commercial & Professional Services | 9.0% PIK (9.0% Max PIK) | 10/1/28 | $ | 442.9 | 309.4 | 232.0 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c)/ Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||
Global Jet Capital LLC, Structured Mezzanine | (j)(u)(v)(w) | Commercial & Professional Services | 15.0% PIK (15.0% Max PIK) | 12/4/25 | $ | 27.0 | $ | 20.2 | $ | 27.0 | ||||||||||||||||||||||||||||||||||||||||
Global Jet Capital LLC, Structured Mezzanine | (j)(u)(v)(w) | Commercial & Professional Services | 15.0% PIK (15.0% Max PIK) | 12/9/25 | $ | 19.8 | 14.4 | 19.8 | ||||||||||||||||||||||||||||||||||||||||||
Global Jet Capital LLC, Structured Mezzanine | (j)(u)(v)(w) | Commercial & Professional Services | 15.0% PIK (15.0% Max PIK) | 1/29/26 | $ | 2.3 | 1.6 | 2.3 | ||||||||||||||||||||||||||||||||||||||||||
Global Lending Services LLC, Private Equity | (v)(w) | Diversified Financials | 8,622,196 | 10.0 | 9.2 | |||||||||||||||||||||||||||||||||||||||||||||
Global Lending Services LLC, Private Equity | (v)(w) | Diversified Financials | 11,471,468 | 11.5 | 12.0 | |||||||||||||||||||||||||||||||||||||||||||||
Global Lending Services LLC, Private Equity | (v)(w)(y) | Diversified Financials | 3,736,989 | 3.7 | 3.7 | |||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV 2, Private Equity | (ac)(v)(w)(y) | Real Estate | 4,471,509 | 4.4 | 5.2 | |||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV 2, Private Equity | (ac)(v)(w)(y) | Real Estate | 168,710 | 0.2 | 0.2 | |||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV 2, Structured Mezzanine | (ac)(v)(w) | Real Estate | 11.0% PIK (11.0% Max PIK) | 3/20/30 | $ | 10.0 | 10.0 | 10.0 | ||||||||||||||||||||||||||||||||||||||||||
Jet Edge International LLC, Term Loan | (v) | Transportation | 10.0%, 2.0% PIK (2.0% Max PIK) | 4/2/26 | $ | 94.2 | 94.2 | 97.0 | ||||||||||||||||||||||||||||||||||||||||||
Jet Edge International LLC, Term Loan | (x) | Transportation | 10.0%, 2.0% PIK (2.0% Max PIK) | 4/2/26 | $ | 0.7 | 0.7 | 0.7 | ||||||||||||||||||||||||||||||||||||||||||
Kilter Finance, Preferred Stock | (ad)(v)(w) | Insurance | 12.0% | $ | 75.9 | 74.4 | 75.9 | |||||||||||||||||||||||||||||||||||||||||||
Kilter Finance, Private Equity | (ad)(v)(w)(y) | Insurance | 536,709 | 0.5 | 0.5 | |||||||||||||||||||||||||||||||||||||||||||||
KKR Central Park Leasing Aggregator L.P., Partnership Interest | (v)(w)(y)(z) | Capital Goods | 14.3% | 5/31/23 | $ | 39.1 | 39.1 | 16.3 | ||||||||||||||||||||||||||||||||||||||||||
KKR Chord IP Aggregator LP, Partnership Interest | (v)(w) | Media & Entertainment | 62,294,586 | 62.3 | 68.5 | |||||||||||||||||||||||||||||||||||||||||||||
KKR Rocket Loans Aggregator LLC, Partnership Interest | (ad)(v)(w) | Diversified Financials | 2,977,627 | 3.0 | 3.0 | |||||||||||||||||||||||||||||||||||||||||||||
KKR Zeno Aggregator LP (K2 Aviation), Partnership Interest | (v)(w)(y) | Capital Goods | 23,664,954 | 23.0 | 19.6 | |||||||||||||||||||||||||||||||||||||||||||||
Luxembourg Life Fund - Absolute Return Fund II, Structured Mezzanine | (v)(w) | Insurance | SF+750 | 0.5% | 2/10/27 | $ | 26.2 | 26.2 | 26.0 | |||||||||||||||||||||||||||||||||||||||||
My Community Homes PropCo 2, Private Equity | (ad)(v)(w)(y) | Real Estate | 85,000,000 | 85.0 | 85.0 | |||||||||||||||||||||||||||||||||||||||||||||
NewStar Clarendon 2014-1A Class D | (v)(w) | Diversified Financials | 19.7% | 1/25/27 | $ | 8.3 | 2.5 | 3.5 | ||||||||||||||||||||||||||||||||||||||||||
Opendoor Labs Inc, Structured Mezzanine | (v)(w) | Real Estate | 10.0% | 4/1/26 | $ | 106.6 | 106.6 | 101.6 | ||||||||||||||||||||||||||||||||||||||||||
Opendoor Labs Inc, Structured Mezzanine | (w)(x) | Real Estate | 10.0% | 4/1/26 | $ | 53.4 | 53.4 | 50.9 | ||||||||||||||||||||||||||||||||||||||||||
Pretium Partners LLC P2, Term Loan | (v)(w) | Real Estate | 11.0% | 12/16/29 | $ | 33.5 | 32.9 | 32.9 | ||||||||||||||||||||||||||||||||||||||||||
Prime ST LLC, Private Equity | (ad)(v)(w)(y) | Real Estate | 5,983,135 | 7.7 | — | |||||||||||||||||||||||||||||||||||||||||||||
Prime ST LLC, Structured Mezzanine | (ad)(v)(w) | Real Estate | 5.0%, 6.0% PIK (6.0% Max PIK) | 3/12/30 | $ | 52.4 | 50.5 | 47.7 | ||||||||||||||||||||||||||||||||||||||||||
Roemanu LLC (FKA Toorak Capital Partners LLC), Private Equity | (ad)(v) | Real Estate | 220,778,388 | 236.5 | 259.7 | |||||||||||||||||||||||||||||||||||||||||||||
Saluda Grade Alternative Mortgage Trust 2022-BC2, Structured Mezzanine | (v)(w) | Real Estate | 8.0% | 7/25/30 | $ | 5.7 | 5.7 | 5.7 | ||||||||||||||||||||||||||||||||||||||||||
Saluda Grade Alternative Mortgage Trust 2022-BC2, Structured Mezzanine | (v)(w) | Real Estate | 18.0% | 7/25/30 | $ | 3.4 | 2.3 | 2.4 | ||||||||||||||||||||||||||||||||||||||||||
Saluda Grade Alternative Mortgage Trust 2022-BC2, Term Loan | (v)(w) | Real Estate | 7.3% | 7/25/30 | $ | 34.5 | 34.5 | 34.4 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c)/ Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||
Star Mountain Diversified Credit Income Fund III, LP, Private Equity | (o)(w) | Diversified Financials | 23,500,000 | $ | 23.5 | $ | 23.9 | |||||||||||||||||||||||||||||||||||||||||||
Total Asset Based Finance | 2,044.4 | 1,928.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Unfunded commitments | (102.6) | (102.6) | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Asset Based Finance | 1,941.8 | 1,825.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC —20.5% | ||||||||||||||||||||||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC | (ad)(v)(w) | Diversified Financials | $ | 1,637.3 | 1,571.7 | 1,466.1 | ||||||||||||||||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC | 1,571.7 | 1,466.1 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Number of Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||
Equity/Other—15.5%(e) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Abaco Energy Technologies LLC, Common Stock | (v)(y) | Energy | 3,055,556 | $ | 0.2 | $ | 0.4 | |||||||||||||||||||||||||||||||||||||||||||
Abaco Energy Technologies LLC, Preferred Stock | (v)(y) | Energy | 12,734,481 | 1.5 | 2.5 | |||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc, Preferred Stock | (ac)(v) | Health Care Equipment & Services | 11.8% PIK (11.8% Max PIK) | 49,073,000 | 48.1 | 50.0 | ||||||||||||||||||||||||||||||||||||||||||||
American Vision Partners, Private Equity | (v)(y) | Health Care Equipment & Services | 2,450,230 | 2.5 | 2.0 | |||||||||||||||||||||||||||||||||||||||||||||
Amerivet Partners Management Inc, Preferred Stock | (v) | Health Care Equipment & Services | 11.5% PIK (11.5% Max PIK) | 12,702,290 | 12.3 | 12.1 | ||||||||||||||||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd, Common Stock | (ad)(g)(v)(w)(y) | Automobiles & Components | 7,046,126 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd, Ordinary Shares | (ad)(v)(w)(y) | Automobiles & Components | 5,735,804,056 | 30.7 | — | |||||||||||||||||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd, Private Equity | (ad)(v)(w)(y) | Automobiles & Components | 4,097 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Angelica Corp, Limited Partnership Interest | (h)(y) | Health Care Equipment & Services | 877,044 | 47.6 | — | |||||||||||||||||||||||||||||||||||||||||||||
Arcos LLC/VA, Preferred Stock | (v) | Software & Services | L+950 PIK (L+950 Max PIK) | 1.0% | 4/30/31 | 15,000,000 | 14.0 | 13.7 | ||||||||||||||||||||||||||||||||||||||||||
Arena Energy LP, Warrants | (v) | Energy | 68,186,525 | 0.4 | 0.5 | |||||||||||||||||||||||||||||||||||||||||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp, Common Stock | (p)(y) | Energy | 10,193 | 9.7 | 2.8 | |||||||||||||||||||||||||||||||||||||||||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp, Trade Claim | (p)(y) | Energy | 86,607,143 | 19.4 | 23.5 | |||||||||||||||||||||||||||||||||||||||||||||
athenahealth Inc, Preferred Stock | (ac)(v) | Health Care Equipment & Services | 10.8% PIK (10.8% Max PIK) | 267,493 | 262.2 | 229.0 | ||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp, Common Stock | (ab)(ad)(s)(v)(w)(y) | Capital Goods | 3,773 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
AVF Parent LLC, Trade Claim | (v)(y) | Retailing | 44,507 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Belk Inc, Common Stock | (ac)(v)(y) | Retailing | 94,950 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Borden (New Dairy Opco), Common Stock | (ac)(h)(n)(y) | Food, Beverage & Tobacco | 11,167,000 | 9.1 | 4.9 | |||||||||||||||||||||||||||||||||||||||||||||
Bowery Farming Inc, Warrants | (v)(y) | Food, Beverage & Tobacco | 4/30/26 | 161,828 | 0.0 | 3.0 | ||||||||||||||||||||||||||||||||||||||||||||
Catalina Marketing Corp, Common Stock | (v)(y) | Media & Entertainment | 6,522 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
CDS US Intermediate Holdings Inc, Warrant | (aa)(v)(w)(y) | Media & Entertainment | 2,023,714 | — | 5.8 | |||||||||||||||||||||||||||||||||||||||||||||
Cengage Learning, Inc, Common Stock | (v)(y) | Media & Entertainment | 227,802 | 7.5 | 3.5 | |||||||||||||||||||||||||||||||||||||||||||||
Cimarron Energy Inc, Common Stock | (v)(y) | Energy | 4,302,293 | — | — |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Number of Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||
Cimarron Energy Inc, Participation Option | (v)(y) | Energy | 25,000,000 | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||
Constellis Holdings LLC, Private Equity | (ac)(f)(v)(y) | Capital Goods | 849,702 | 10.3 | 5.9 | |||||||||||||||||||||||||||||||||||||||||||||
CTI Foods Holding Co LLC, Common Stock | (v)(y) | Food, Beverage & Tobacco | 5,892 | 0.7 | — | |||||||||||||||||||||||||||||||||||||||||||||
Cubic Corp, Preferred Stock | (v) | Software & Services | 11.0% PIK (11.0% Max PIK) | 42,141,600 | 39.7 | 35.1 | ||||||||||||||||||||||||||||||||||||||||||||
Envigo Laboratories Inc, Series A Warrant | (s)(y) | Health Care Equipment & Services | 4/29/24 | 10,924 | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Envigo Laboratories Inc, Series B Warrant | (s)(y) | Health Care Equipment & Services | 4/29/24 | 17,515 | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Fox Head Inc, Common Stock | (j)(v) | Consumer Durables & Apparel | 10,000,000 | 2.9 | 0.6 | |||||||||||||||||||||||||||||||||||||||||||||
Fronton BV, Common Stock | (ac)(o)(y) | Consumer Services | 14,943 | — | 1.1 | |||||||||||||||||||||||||||||||||||||||||||||
Galaxy Universal LLC, Common Stock | (n)(y) | Consumer Durables & Apparel | 228,806 | 35.5 | 14.9 | |||||||||||||||||||||||||||||||||||||||||||||
Galaxy Universal LLC, Trade Claim | (v)(y) | Consumer Durables & Apparel | 6,723,167 | 4.0 | 1.5 | |||||||||||||||||||||||||||||||||||||||||||||
Genesys Telecommunications Laboratories Inc, Class A Shares | (v)(y) | Technology Hardware & Equipment | 40,529 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Genesys Telecommunications Laboratories Inc, Ordinary Shares | (v)(y) | Technology Hardware & Equipment | 41,339 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Genesys Telecommunications Laboratories Inc, Preferred Stock | (v)(y) | Technology Hardware & Equipment | 1,050,465 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Gracent LLC, NP-1 Common Stock | (n)(y) | Health Care Equipment & Services | 1,000,000 | 4.2 | — | |||||||||||||||||||||||||||||||||||||||||||||
Harvey Industries Inc, Common Stock | (v) | Capital Goods | 5,000,000 | 2.2 | 4.5 | |||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders, Class A Common Stock | (ad)(v)(w)(y) | Consumer Durables & Apparel | 4,503,411 | 0.1 | — | |||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders, Class B Common Stock | (ad)(v)(w)(y) | Consumer Durables & Apparel | 574,791 | 0.0 | — | |||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders, Class C Common Stock | (ad)(v)(w)(y) | Consumer Durables & Apparel | 213,201 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders, Equity Options | (ad)(v)(w)(y) | Consumer Durables & Apparel | 11/30/25 | 236,160,807 | 15.0 | — | ||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc, Preferred Stock, Series A | (ad)(s)(v)(y) | Capital Goods | 85,385 | 7.1 | 10.9 | |||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc, Preferred Stock, Series B | (ad)(s)(v)(y) | Capital Goods | 15,000 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Imagine Communications Corp, Common Stock | (v)(y) | Media & Entertainment | 33,034 | 3.8 | 2.5 | |||||||||||||||||||||||||||||||||||||||||||||
Jones Apparel Holdings, Inc., Common Stock | (v)(y) | Consumer Durables & Apparel | 5,451 | 0.9 | — | |||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co, Common Stock | (ad)(j)(u)(v)(y) | Materials | 2,105 | 0.0 | 2.2 | |||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co, Preferred Stock | (ad)(j)(u)(v) | Materials | 6.3% PIK (12.5% Max PIK) | 2/15/28 | 15,279 | 195.6 | 105.4 | |||||||||||||||||||||||||||||||||||||||||||
Maverick Natural Resources LLC, Common Stock | (n)(o)(y) | Energy | 259,211 | 84.5 | 192.6 | |||||||||||||||||||||||||||||||||||||||||||||
MB Precision Holdings LLC, Class A - 2 Units | (n)(o)(y) | Capital Goods | 8,081,288 | 0.5 | — | |||||||||||||||||||||||||||||||||||||||||||||
Med-Metrix, Common Stock | (h)(y) | Software & Services | 29,403 | 1.5 | 2.5 | |||||||||||||||||||||||||||||||||||||||||||||
Med-Metrix, Preferred Stock | (h) | Software & Services | 8.0% PIK (8.0% Max PIK) | 29,403 | 1.5 | 1.5 | ||||||||||||||||||||||||||||||||||||||||||||
Miami Beach Medical Group LLC, Common Stock | (v)(y) | Health Care Equipment & Services | 5,000,000 | 4.8 | 1.6 | |||||||||||||||||||||||||||||||||||||||||||||
Misys Ltd, Preferred Stock | (v)(w) | Software & Services | L+1,025 PIK (L+1,025 Max PIK) | 0.0% | 62,923,634 | 58.8 | 60.2 | |||||||||||||||||||||||||||||||||||||||||||
NBG Home, Common Stock | (v)(y) | Consumer Durables & Apparel | 1,903 | 2.4 | — | |||||||||||||||||||||||||||||||||||||||||||||
Nine West Holdings Inc, Common Stock | (v)(y) | Consumer Durables & Apparel | 5,451 | 6.4 | — | |||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Common Stock | (ad)(v)(y) | Health Care Equipment & Services | 34,872 | 2.1 | 2.1 | |||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock A | (ad)(v)(y) | Health Care Equipment & Services | 371,992 | 22.8 | 22.5 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Number of Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock B | (ad)(v) | Health Care Equipment & Services | 9.0% PIK (9.0% Max PIK) | 10/25/29 | 7,672,347 | $ | 8.0 | $ | 7.7 | |||||||||||||||||||||||||||||||||||||||||
Petroplex Acidizing Inc, Trade Claim | (v)(y) | Energy | 646,309 | 0.6 | 0.6 | |||||||||||||||||||||||||||||||||||||||||||||
Polyconcept North America Inc, Class A - 1 Units | (v) | Household & Personal Products | 30,000 | 3.0 | 9.0 | |||||||||||||||||||||||||||||||||||||||||||||
PRG III LLC, Preferred Stock, Series A PIK | (ad)(v)(y) | Media & Entertainment | 8/21/24 | 434,250 | 18.1 | 63.4 | ||||||||||||||||||||||||||||||||||||||||||||
PRG III LLC, Preferred Stock, Series B PIK | (ad)(v)(y) | Media & Entertainment | 8/21/24 | 140 | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Proserv Acquisition LLC, Class A Common Units | (ac)(v)(w)(y) | Energy | 2,635,005 | 33.5 | 0.5 | |||||||||||||||||||||||||||||||||||||||||||||
Proserv Acquisition LLC, Class A Preferred Units | (ac)(v)(w)(y) | Energy | 837,780 | 5.4 | 9.0 | |||||||||||||||||||||||||||||||||||||||||||||
Quorum Health Corp, Trade Claim | (v)(y) | Health Care Equipment & Services | 8,301,000 | 0.7 | 0.9 | |||||||||||||||||||||||||||||||||||||||||||||
Quorum Health Corp, Trust Initial Funding Units | (v)(y) | Health Care Equipment & Services | 143,400 | 0.2 | 0.2 | |||||||||||||||||||||||||||||||||||||||||||||
Ridgeback Resources Inc, Common Stock | (j)(u)(v)(w) | Energy | 1,969,418 | 8.0 | 8.3 | |||||||||||||||||||||||||||||||||||||||||||||
Sequel Youth & Family Services LLC, Class R Common Stock | (n)(y) | Health Care Equipment & Services | 900,000 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Sorenson Communications LLC, Common Stock | (j)(u)(v)(y) | Telecommunication Services | 42,731 | 7.1 | 2.9 | |||||||||||||||||||||||||||||||||||||||||||||
Sorenson Communications LLC, Trade Claim | (j)(u)(v)(y) | Telecommunication Services | 987,959 | 1.0 | 1.0 | |||||||||||||||||||||||||||||||||||||||||||||
Sound United LLC, Common Stock | (v) | Consumer Durables & Apparel | 532,768 | 0.7 | 7.0 | |||||||||||||||||||||||||||||||||||||||||||||
Stuart Weitzman Inc, Common Stock | (v)(y) | Consumer Durables & Apparel | 5,451 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc, Common Stock | (ac)(s)(u)(v)(y) | Software & Services | 262,516 | 6.9 | — | |||||||||||||||||||||||||||||||||||||||||||||
Swift Worldwide Resources Holdco Ltd, Common Stock | (v)(y) | Energy | 1,250,000 | 1.2 | 0.8 | |||||||||||||||||||||||||||||||||||||||||||||
ThermaSys Corp, Common Stock | (ac)(u)(v)(y) | Capital Goods | 17,383,026 | 10.2 | — | |||||||||||||||||||||||||||||||||||||||||||||
ThermaSys Corp, Preferred Stock | (ac)(v)(y) | Capital Goods | 1,529 | 1.7 | — | |||||||||||||||||||||||||||||||||||||||||||||
TIBCO Software Inc, Preferred Stock | (v) | Software & Services | SF+1,200 PIK (SF+1,200 Max PIK) | 0.5% | 12/31/69 | 133,186,150 | 127.3 | 127.3 | ||||||||||||||||||||||||||||||||||||||||||
Ultra Electronics Holdings PLC, Private Equity | (v)(w)(y) | Capital Goods | 7,141,708 | 8.8 | 7.5 | |||||||||||||||||||||||||||||||||||||||||||||
Versatile Processing Group Inc, Class A - 2 Units | (u)(y) | Materials | 3,637,500 | 3.6 | — | |||||||||||||||||||||||||||||||||||||||||||||
Warren Resources Inc, Common Stock | (ad)(v)(y) | Energy | 3,483,788 | 12.8 | 24.8 | |||||||||||||||||||||||||||||||||||||||||||||
Worldwise Inc, Class A Private Equity | (v)(y) | Household & Personal Products | 32,109 | 1.6 | 1.6 | |||||||||||||||||||||||||||||||||||||||||||||
Worldwise Inc, Class B Private Equity | (v)(y) | Household & Personal Products | 32,109 | 1.6 | 0.9 | |||||||||||||||||||||||||||||||||||||||||||||
Zeta Interactive Holdings Corp, Common Stock | (aa)(v)(y) | Software & Services | 2,208,577 | 18.8 | 14.6 | |||||||||||||||||||||||||||||||||||||||||||||
Total Equity/Other | 1,253.3 | 1,109.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL INVESTMENTS—220.6% | $ | 16,677.7 | 15,791.8 | |||||||||||||||||||||||||||||||||||||||||||||||
LIABILITIES IN EXCESS OF OTHER ASSETS—(120.6%) | (8,631.8) | |||||||||||||||||||||||||||||||||||||||||||||||||
NET ASSETS—100% | $ | 7,160.0 |
Foreign Currency | Settlement Date | Counterparty | Amount and Transaction | US$ Value at Settlement Date | US$ Value at September 30, 2022 | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||||||||||||||||||||
AUD | 10/17/2022 | JP Morgan Chase Bank | A$ | 3.0 | Sold | $ | 2.1 | $ | 1.9 | $ | 0.2 | ||||||||||||||||||||||||||||||||||||
AUD | 2/14/2023 | JP Morgan Chase Bank | A$ | 2.2 | Sold | 1.6 | 1.4 | 0.2 | |||||||||||||||||||||||||||||||||||||||
CAD | 11/10/2022 | JP Morgan Chase Bank | C$ | 1.5 | Sold | 1.2 | 1.1 | 0.1 | |||||||||||||||||||||||||||||||||||||||
CAD | 11/15/2024 | JP Morgan Chase Bank | C$ | 4.0 | Sold | 3.2 | 2.9 | 0.3 | |||||||||||||||||||||||||||||||||||||||
CAD | 1/11/2023 | JP Morgan Chase Bank | C$ | 1.5 | Sold | 1.2 | 1.1 | 0.1 | |||||||||||||||||||||||||||||||||||||||
CAD | 7/5/2023 | JP Morgan Chase Bank | C$ | 1.9 | Sold | 1.5 | 1.4 | 0.1 | |||||||||||||||||||||||||||||||||||||||
CAD | 7/5/2023 | JP Morgan Chase Bank | C$ | 1.4 | Sold | 1.1 | 1.0 | 0.1 | |||||||||||||||||||||||||||||||||||||||
EUR | 7/17/2023 | JP Morgan Chase Bank | € | 1.3 | Sold | 1.7 | 1.3 | 0.4 | |||||||||||||||||||||||||||||||||||||||
EUR | 8/8/2025 | JP Morgan Chase Bank | € | 4.8 | Sold | 5.7 | 4.9 | 0.8 | |||||||||||||||||||||||||||||||||||||||
EUR | 8/8/2025 | JP Morgan Chase Bank | € | 1.9 | Sold | 2.3 | 2.0 | 0.3 | |||||||||||||||||||||||||||||||||||||||
EUR | 2/23/2024 | JP Morgan Chase Bank | € | 42.3 | Sold | 49.1 | 42.7 | 6.4 | |||||||||||||||||||||||||||||||||||||||
EUR | 12/15/2023 | JP Morgan Chase Bank | € | 13.0 | Sold | 13.4 | 13.1 | 0.3 | |||||||||||||||||||||||||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 1.9 | Sold | 2.9 | 2.2 | 0.7 | |||||||||||||||||||||||||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 1.7 | Sold | 2.6 | 1.9 | 0.7 | |||||||||||||||||||||||||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 3.4 | Sold | 4.8 | 3.8 | 1.0 | |||||||||||||||||||||||||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 5.0 | Sold | 6.6 | 5.5 | 1.1 | |||||||||||||||||||||||||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 1.4 | Sold | 1.9 | 1.6 | 0.3 | |||||||||||||||||||||||||||||||||||||||
GBP | 10/13/2023 | JP Morgan Chase Bank | £ | 6.2 | Sold | 8.5 | 6.9 | 1.6 | |||||||||||||||||||||||||||||||||||||||
NOK | 8/8/2025 | JP Morgan Chase Bank | NOK | 45.0 | Sold | 4.8 | 4.2 | 0.6 | |||||||||||||||||||||||||||||||||||||||
SEK | 8/8/2025 | JP Morgan Chase Bank | SEK | 119.3 | Sold | 13.3 | 11.0 | 2.3 | |||||||||||||||||||||||||||||||||||||||
SEK | 8/8/2025 | JP Morgan Chase Bank | SEK | 27.8 | Sold | 3.1 | 2.6 | 0.5 | |||||||||||||||||||||||||||||||||||||||
SEK | 5/10/2024 | JP Morgan Chase Bank | SEK | 503.0 | Sold | 60.1 | 46.1 | 14.0 | |||||||||||||||||||||||||||||||||||||||
SEK | 5/10/2024 | JP Morgan Chase Bank | SEK | 34.5 | Sold | 4.1 | 3.1 | 1.0 | |||||||||||||||||||||||||||||||||||||||
SEK | 5/10/2024 | JP Morgan Chase Bank | SEK | 68.0 | Sold | 8.1 | 6.2 | 1.9 | |||||||||||||||||||||||||||||||||||||||
SEK | 5/10/2024 | JP Morgan Chase Bank | SEK | 250.0 | Sold | 26.4 | 22.9 | 3.5 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 231.3 | $ | 192.8 | $ | 38.5 |
Portfolio Company | Fair Value at December 31, 2021 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at September 30, 2022 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend and Other Income(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—First Lien | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc | 59.9 | 10.0 | (21.2) | — | (0.7) | 48.0 | 2.7 | — | 0.2 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
athenahealth Inc | — | 6.8 | (6.1) | (0.7) | — | — | 0.2 | — | 0.2 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc | 49.2 | 4.5 | (1.0) | (0.2) | (39.6) | 12.9 | 3.7 | 2.7 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc | 21.9 | 0.1 | — | — | (2.4) | 19.6 | 1.5 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Borden (New Dairy Opco) | 9.0 | — | (9.0) | 0.6 | (0.6) | — | 0.1 | — | 0.3 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Borden (New Dairy Opco) | 42.0 | 0.1 | (42.0) | 1.7 | (1.8) | — | 0.9 | — | 1.3 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Borden Dairy Co | — | — | — | (25.4) | 25.4 | — | — | — | — | — |
Portfolio Company | Fair Value at December 31, 2021 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at September 30, 2022 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend and Other Income(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Constellis Holdings LLC | $ | 15.0 | $ | 0.3 | $ | — | $ | — | $ | (0.3) | $ | 15.0 | $ | 1.3 | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
Fairway Group Holdings Corp | 0.7 | — | — | (1.0) | 0.3 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fairway Group Holdings Corp | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Micronics Filtration Holdings LLC | 51.0 | 5.7 | (51.7) | — | (5.0) | — | 0.2 | 0.3 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Petroplex Acidizing Inc | 9.7 | — | (16.7) | (5.3) | 12.3 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sorenson Communications LLC(4) | 60.1 | — | (56.9) | — | (3.2) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc | 6.0 | 0.1 | — | — | (5.6) | 0.5 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc | — | 4.5 | — | — | — | 4.5 | 0.3 | 0.1 | 0.2 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ThermaSys Corp | 3.5 | — | — | — | 2.2 | 5.7 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—Second Lien | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc | 6.7 | — | — | — | (3.0) | 3.7 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Constellis Holdings LLC | 12.0 | 0.2 | — | — | 1.3 | 13.5 | 1.4 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fairway Group Holdings Corp | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc | 8.3 | — | (0.2) | — | (8.1) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
athenahealth Inc | — | 5.5 | (4.7) | (0.8) | — | — | 0.1 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Based Finance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV, Structured Mezzanine | 90.4 | 7.9 | (98.1) | 4.6 | (4.8) | — | 0.3 | 7.5 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV, Private Equity | 9.4 | — | (11.8) | 6.4 | (4.0) | — | — | — | — | 0.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV, Common Stock | 80.6 | — | (101.0) | 53.4 | (33.0) | — | — | — | — | 4.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV 2, Structured Mezzanine | 3.5 | 6.5 | — | 0.1 | (0.1) | 10.0 | — | 0.4 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV 2, Private Equity | 0.1 | 0.1 | — | — | — | 0.2 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV 2, Private Equity | 1.6 | 2.9 | — | — | 0.7 | 5.2 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Jet Edge International LLC, Preferred Stock | 16.8 | — | (30.1) | 9.2 | 4.1 | — | 0.7 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Jet Edge International LLC, Warrant | 4.5 | — | (13.3) | 13.3 | (4.5) | — | — | — | — | 1.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Jet Edge International LLC, Term Loan | 75.6 | — | (75.9) | — | 0.3 | — | 9.9 | 1.9 | 2.7 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Orchard Marine Limited, Class B Common Stock | — | — | — | (3.1) | 3.1 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Orchard Marine Limited, Series A Preferred Stock | 64.6 | — | (65.4) | 3.4 | (2.6) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity/Other | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc, Preferred Stock | 52.1 | — | — | — | (2.1) | 50.0 | — | 4.1 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
athenahealth Inc, Preferred Stock | — | 311.3 | (47.5) | (1.6) | (33.2) | 229.0 | 1.4 | 20.2 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Borden (New Dairy Opco), Common Stock | 7.7 | — | — | — | (2.8) | 4.9 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Constellis Holdings LLC, Private Equity | 0.2 | — | — | — | 5.7 | 5.9 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fairway Group Holdings Corp, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fronton BV, Common Stock | 1.4 | — | — | — | (0.3) | 1.1 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Common Stock | — | — | (0.1) | (0.5) | 0.6 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series A | 0.1 | — | — | (0.6) | 0.5 | — | — | — | — | — |
Portfolio Company | Fair Value at December 31, 2021 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at September 30, 2022 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend and Other Income(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series B | $ | 0.4 | $ | — | $ | (0.4) | $ | 0.2 | $ | (0.2) | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series B PIK | 11.9 | — | (11.9) | 11.9 | (11.9) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series C PIK | 6.2 | — | (6.2) | 6.2 | (6.2) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Petroplex Acidizing Inc, Preferred Stock A | — | — | — | (4.9) | 4.9 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Petroplex Acidizing Inc, Warrant | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Proserv Acquisition LLC, Class A Common Units | 0.1 | 0.1 | — | — | 0.3 | 0.5 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Proserv Acquisition LLC, Class A Preferred Units | 9.3 | — | — | — | (0.3) | 9.0 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sorenson Communications LLC, Common Stock(4) | 67.5 | — | (65.4) | 22.9 | (25.0) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ThermaSys Corp, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ThermaSys Corp, Preferred Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 859.0 | $ | 366.6 | $ | (736.6) | $ | 89.8 | $ | (139.6) | $ | 439.2 | $ | 24.7 | $ | 37.2 | $ | 4.9 | $ | 6.5 |
Portfolio Company | Fair Value at December 31, 2021 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at September 30, 2022 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend and Other Income(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—First Lien | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tekfor HoldCo (formerly Amtek Global Technology Pte Ltd) | $ | 34.8 | $ | — | $ | (16.9) | $ | (3.2) | $ | (4.4) | $ | 10.3 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp | 46.8 | 0.4 | (6.1) | — | — | 41.1 | 2.0 | 1.0 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc | 33.6 | 2.0 | — | — | — | 35.6 | — | 2.0 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc | 2.0 | — | (2.0) | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc | 5.0 | — | — | — | (1.3) | 3.7 | 0.3 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | 133.3 | 15.1 | — | — | 1.0 | 149.4 | 8.3 | 6.0 | — | — |
Portfolio Company | Fair Value at December 31, 2021 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at September 30, 2022 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend and Other Income(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | $ | 0.1 | $ | — | $ | — | $ | — | $ | — | $ | 0.1 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | 64.4 | 2.8 | (0.4) | — | 0.9 | 67.7 | 4.7 | 1.5 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | 20.2 | 10.8 | (0.2) | — | 0.3 | 31.1 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Warren Resources Inc | 18.7 | 0.4 | (0.2) | — | (0.3) | 18.6 | 1.8 | 0.1 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—Second Lien | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd | — | — | — | (39.1) | 39.1 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Senior Secured Debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co | 81.0 | 0.1 | — | — | (2.6) | 78.5 | 6.0 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc | 23.5 | 1.2 | — | — | (3.5) | 21.2 | 0.2 | 1.5 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp | 7.1 | 3.3 | — | — | 6.2 | 16.6 | 2.2 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders | 46.6 | — | — | — | (46.6) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Based Finance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
801 5th Ave, Seattle, Structure Mezzanine | 57.2 | 0.2 | — | — | (0.2) | 57.2 | 3.5 | 1.3 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
801 5th Ave, Seattle, Private Equity | 23.1 | — | — | — | (8.8) | 14.3 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Avenue One PropCo, Private Equity | — | 41.3 | — | — | — | 41.3 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Avida Holding AB, Common Stock | 52.3 | — | — | — | (14.6) | 37.7 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Kilter Finance, Preferred Stock | 36.1 | 39.8 | — | — | — | 75.9 | 4.8 | 1.9 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Kilter Finance, Private Equity | 0.5 | — | — | — | — | 0.5 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
KKR Rocket Loans Aggregator LLC, Partnership Interest | 1.4 | 1.6 | — | — | — | 3.0 | — | — | — | 0.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
My Community Homes PropCo 2, Private Equity | 33.0 | 157.0 | (105.0) | — | — | 85.0 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Prime St LLC, Private Equity | 9.1 | — | — | — | (9.1) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Prime St LLC, Structured Mezzanine | 52.4 | 0.1 | — | — | (4.8) | 47.7 | 2.6 | 2.4 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Toorak Capital Funding LLC, Membership Interest | 1.7 | — | (1.7) | (0.2) | 0.2 | — | — | — | — | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Roemanu LLC (FKA Toorak Capital Partners LLC), Private Equity | 199.3 | 78.4 | — | — | (18.0) | 259.7 | — | — | — | 13.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Roemanu LLC (FKA Toorak Capital Partners LLC), Structured Mezzanine | 22.0 | 32.0 | (54.0) | — | — | — | — | 0.6 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC | 1,396.2 | 175.0 | — | — | (105.1) | 1,466.1 | — | — | — | 153.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity/Other | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd, Ordinary Shares | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd, Private Equity | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders, Class A Common Stock | — | — | — | — | — | — | — | — | — | — |
Portfolio Company | Fair Value at December 31, 2021 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at September 30, 2022 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend and Other Income(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders, Class B Common Stock | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
Hilding Anders, Class C Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders, Equity Options | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc, Preferred Stock, Series A | 7.1 | — | — | — | 3.8 | 10.9 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc, Preferred Stock, Series B | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co, Common Stock | — | — | — | — | 2.2 | 2.2 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co, Preferred Stock | 122.6 | 17.7 | — | — | (34.9) | 105.4 | 0.6 | 15.2 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Common Stock | 2.4 | — | — | — | (0.3) | 2.1 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock A | 26.1 | — | — | — | (3.6) | 22.5 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock B | 9.2 | — | — | — | (1.5) | 7.7 | — | 0.5 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
PRG III LLC, Preferred Stock, Series A PIK | 17.4 | — | — | — | 46.0 | 63.4 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
PRG III LLC, Preferred Stock, Series B PIK | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sound United LLC, Common Stock(4) | 77.5 | — | (17.3) | — | (60.2) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Warren Resources Inc, Common Stock | 20.4 | — | — | — | 4.4 | 24.8 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 2,684.1 | $ | 579.2 | $ | (203.8) | $ | (42.5) | $ | (215.7) | $ | 2,801.3 | $ | 37.0 | $ | 34.0 | $ | — | $ | 168.2 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—First Lien—126.3% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3Pillar Global Inc | (i)(k)(l) | Software & Services | L+600 | 0.8% | 11/23/27 | $ | 96.3 | $ | 95.3 | $ | 95.3 | |||||||||||||||||||||||||||||||||||||||||||||
3Pillar Global Inc | (x) | Software & Services | L+600 | 0.8% | 11/23/26 | 9.2 | 9.2 | 9.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
3Pillar Global Inc | (x) | Software & Services | L+600 | 0.8% | 11/23/27 | 30.6 | 30.6 | 30.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
5 Arch Income Fund 2 LLC | (q)(r)(w)(y)(z) | Diversified Financials | 9.0% | 11/18/23 | 111.1 | 81.3 | 78.3 | |||||||||||||||||||||||||||||||||||||||||||||||||
Accuride Corp | (aa)(l) | Capital Goods | L+525 | 1.0% | 11/17/23 | 9.0 | 8.1 | 8.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Advanced Dermatology & Cosmetic Surgery | (m)(t)(v) | Health Care Equipment & Services | L+625 | 1.0% | 5/7/27 | 44.8 | 42.9 | 45.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Advanced Dermatology & Cosmetic Surgery | (x) | Health Care Equipment & Services | L+625 | 1.0% | 5/7/26 | 3.6 | 3.6 | 3.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Advanced Dermatology & Cosmetic Surgery | (x) | Health Care Equipment & Services | L+625 | 1.0% | 5/7/27 | 4.2 | 4.2 | 4.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Advania Sverige AB | (v)(w) | Software & Services | SR+610, 0.0% PIK (3.3% Max PIK) | 0.0% | 4/28/28 | SEK | 629.4 | 67.9 | 68.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Advania Sverige AB | (v)(w) | Software & Services | R+610, 0.0% PIK (3.3% Max PIK) | 0.0% | 4/28/28 | ISK | 1,345.8 | 10.0 | 10.3 | |||||||||||||||||||||||||||||||||||||||||||||||
Advania Sverige AB | (w)(x) | Software & Services | SR+610, 0.0% PIK (3.3% Max PIK) | 0.0% | 4/28/28 | SEK | 304.1 | 37.5 | 37.2 | |||||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc | (ac)(v) | Health Care Equipment & Services | L+550, 0.0% PIK (1.3% Max PIK) | 0.8% | 8/2/28 | $ | 60.4 | 59.9 | 60.1 | |||||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc | (ac)(x) | Health Care Equipment & Services | L+550, 0.0% PIK (1.3% Max PIK) | 0.8% | 8/2/27 | 12.8 | 12.8 | 12.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc | (ac)(x) | Health Care Equipment & Services | L+550, 0.0% PIK (1.3% Max PIK) | 0.8% | 8/2/28 | 43.1 | 43.1 | 42.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Alacrity Solutions Group LLC | (v) | Insurance | L+525 | 0.8% | 12/22/27 | 1.1 | 0.9 | 1.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Alacrity Solutions Group LLC | (v) | Insurance | L+525 | 0.8% | 12/22/28 | 69.2 | 68.2 | 68.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Alacrity Solutions Group LLC | (x) | Insurance | L+525 | 0.8% | 12/22/27 | 9.7 | 9.7 | 9.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Alera Group Intermediate Holdings Inc | (v) | Insurance | L+550 | 0.8% | 10/2/28 | 21.4 | 21.2 | 21.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Alera Group Intermediate Holdings Inc | (x) | Insurance | L+550 | 0.8% | 10/2/28 | 22.9 | 22.9 | 22.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
American Vision Partners | (i)(v) | Health Care Equipment & Services | L+575 | 0.8% | 9/30/27 | 94.7 | 93.8 | 94.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
American Vision Partners | (x) | Health Care Equipment & Services | L+575 | 0.8% | 9/30/26 | 7.8 | 7.8 | 7.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
American Vision Partners | (x) | Health Care Equipment & Services | L+575 | 0.8% | 9/30/27 | 38.9 | 38.9 | 38.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd | (ad)(v)(w)(y)(z) | Automobiles & Components | E+500 PIK (E+500 Max PIK) | 0.0% | 4/4/24 | € | 57.2 | 68.7 | 34.8 | |||||||||||||||||||||||||||||||||||||||||||||||
Arcos LLC/VA | (m) | Software & Services | L+575 | 1.0% | 3/31/28 | $ | 12.5 | 12.3 | 12.4 | |||||||||||||||||||||||||||||||||||||||||||||||
Arcos LLC/VA | (x) | Software & Services | L+575 | 1.0% | 4/20/27 | 4.5 | 4.5 | 4.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (v)(w) | Insurance | SA+675 | 0.8% | 7/14/26 | £ | 0.8 | 1.0 | 1.1 | |||||||||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (v)(w) | Insurance | L+550 | 0.8% | 7/14/26 | $ | 14.1 | 13.8 | 13.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (w)(x) | Insurance | L+550 | 1.0% | 7/14/26 | £ | 16.7 | 22.8 | 22.1 | |||||||||||||||||||||||||||||||||||||||||||||||
Arrotex Australia Group Pty Ltd | (v)(w) | Pharmaceuticals, Biotechnology & Life Sciences | B+525 | 1.0% | 7/10/24 | A$ | 42.6 | 30.4 | 30.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Arrotex Australia Group Pty Ltd | (v)(w) | Pharmaceuticals, Biotechnology & Life Sciences | B+525 | 1.0% | 7/10/24 | 3.1 | 2.2 | 2.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Aspect Software Inc | (v) | Software & Services | 8.0% PIK (8.0% Max PIK) | 7/14/22 | $ | 0.3 | 0.2 | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp | (ad)(s)(v)(w) | Capital Goods | 7.5% PIK (7.5% Max PIK) | 1.0% | 8/9/26 | 46.8 | 46.8 | 46.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
AxiomSL Ltd | (f)(m)(t)(v) | Software & Services | L+600 | 1.0% | 12/3/27 | 35.1 | 34.4 | 34.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
AxiomSL Ltd | (x) | Software & Services | L+600 | 1.0% | 12/3/25 | 2.5 | 2.4 | 2.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
AxiomSL Ltd | (x) | Software & Services | L+600 | 1.0% | 12/3/27 | 2.3 | 2.3 | 2.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Barbri Inc | (f)(k)(l)(m)(t)(v) | Consumer Services | L+575 | 0.8% | 4/28/28 | 92.4 | 88.1 | 92.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Barbri Inc | (k)(l) | Consumer Services | L+575 | 0.8% | 4/30/28 | 35.1 | 34.8 | 34.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Barbri Inc | (x) | Consumer Services | L+575 | 0.8% | 4/30/28 | 14.8 | 14.8 | 14.6 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc | (aa)(ac)(v) | Retailing | L+750 | 1.0% | 7/31/25 | $ | 21.9 | $ | 21.7 | $ | 21.9 | |||||||||||||||||||||||||||||||||||||||||||||
Belk Inc | (aa)(ac)(v) | Retailing | 5.0%, 8.0% PIK (8.0% Max PIK) | 7/31/25 | 66.7 | 40.2 | 49.2 | |||||||||||||||||||||||||||||||||||||||||||||||||
BGB Group LLC | (f)(i)(k)(l)(m)(t)(v) | Media & Entertainment | L+575 | 1.0% | 8/16/27 | 118.6 | 117.5 | 118.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
BGB Group LLC | (x) | Media & Entertainment | L+575 | 1.0% | 8/16/27 | 19.9 | 19.9 | 19.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Borden (New Dairy Opco) | (ac)(v) | Food, Beverage & Tobacco | L+700, 0.0% PIK (1.0% Max PIK) | 1.0% | 7/20/25 | 42.0 | 40.2 | 42.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Borden (New Dairy Opco) | (ac)(v) | Food, Beverage & Tobacco | L+250 | 1.0% | 7/20/25 | 9.0 | 8.4 | 9.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Borden Dairy Co | (ac)(v)(y)(z) | Food, Beverage & Tobacco | L+825 | 1.0% | 7/6/23 | 65.0 | 25.4 | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Bowery Farming Inc | (v) | Food, Beverage & Tobacco | L+1,000 | 1.0% | 4/30/26 | 75.0 | 74.3 | 69.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Cimarron Energy Inc | (v)(y)(z) | Energy | L+900 | 1.0% | 12/31/24 | 7.5 | 5.5 | 3.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Clarience Technologies LLC | (f)(i)(k)(m)(s)(v) | Capital Goods | L+625 | 1.0% | 12/14/26 | 268.0 | 257.2 | 270.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Clarience Technologies LLC | (v) | Capital Goods | L+625 | 1.0% | 12/31/26 | 18.1 | 17.6 | 18.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Clarience Technologies LLC | (x) | Capital Goods | L+625 | 1.0% | 12/13/24 | 25.4 | 25.2 | 25.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Clarience Technologies LLC | (x) | Capital Goods | L+625 | 1.0% | 12/31/26 | 10.8 | 10.8 | 11.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Constellis Holdings LLC | (ac)(v) | Capital Goods | L+750 | 1.0% | 3/27/24 | 15.0 | 14.0 | 15.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Corsearch Intermediate Inc | (m)(v) | Software & Services | L+550 | 1.0% | 4/19/28 | 30.1 | 28.3 | 30.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Corsearch Intermediate Inc | (x) | Software & Services | L+550 | 1.0% | 4/19/28 | 4.4 | 4.4 | 4.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
CSafe Global | (f)(i)(k)(l)(m)(t)(v) | Capital Goods | L+625 | 0.8% | 12/23/27 | 188.7 | 182.5 | 188.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
CSafe Global | (v) | Capital Goods | L+625 | 0.8% | 12/23/27 | £ | 27.4 | 36.3 | 37.1 | |||||||||||||||||||||||||||||||||||||||||||||||
CSafe Global | (v) | Capital Goods | L+625 | 0.8% | 8/13/28 | $ | 11.9 | 11.9 | 11.9 | |||||||||||||||||||||||||||||||||||||||||||||||
CSafe Global | (x) | Capital Goods | L+625 | 0.8% | 12/23/26 | 34.9 | 34.9 | 34.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Dental Care Alliance Inc | (f)(k)(m)(t)(v) | Health Care Equipment & Services | L+625 | 0.8% | 3/12/27 | 90.3 | 86.1 | 90.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Dental Care Alliance Inc | (v) | Health Care Equipment & Services | L+625 | 0.8% | 3/12/27 | 8.7 | 8.7 | 8.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Dental Care Alliance Inc | (x) | Health Care Equipment & Services | L+625 | 0.8% | 3/12/27 | 13.6 | 13.6 | 13.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Element Materials Technology Group US Holdings Inc | (aa)(v)(w) | Capital Goods | L+350 | 1.0% | 6/28/24 | 1.9 | 1.9 | 1.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Encora Digital Inc | (v) | Software & Services | L+550, 0.0% PIK (2.4% Max PIK) | 0.5% | 12/13/28 | 81.3 | 79.7 | 79.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Encora Digital Inc | (x) | Software & Services | L+550 | 0.5% | 12/13/28 | 19.6 | 19.4 | 19.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Entertainment Benefits Group LLC | (v) | Media & Entertainment | L+575, 2.5% PIK (2.5% Max PIK) | 1.0% | 9/30/24 | 0.4 | 0.4 | 0.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Entertainment Benefits Group LLC | (f)(k)(l)(m)(v) | Media & Entertainment | L+575, 2.5% PIK (2.5% Max PIK) | 1.0% | 9/30/25 | 64.0 | 59.1 | 61.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Entertainment Benefits Group LLC | (x) | Media & Entertainment | L+575, 2.5% PIK (2.5% Max PIK) | 1.0% | 9/30/24 | 10.2 | 9.6 | 9.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Fairway Group Holdings Corp | (ac)(v)(y)(z) | Food & Staples Retailing | 12.0% PIK (12.0% Max PIK) | 11/27/23 | 11.7 | 1.0 | 0.7 | |||||||||||||||||||||||||||||||||||||||||||||||||
Fairway Group Holdings Corp | (ac)(v)(y)(z) | Food & Staples Retailing | 10.0% PIK (10.0% Max PIK) | 11/28/23 | 7.6 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Follett Software Co | (f)(k)(l)(t) | Software & Services | L+575 | 0.8% | 8/31/28 | 74.4 | 73.7 | 74.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Follett Software Co | (x) | Software & Services | L+575 | 0.8% | 8/31/27 | 9.9 | 9.9 | 9.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Foundation Consumer Brands LLC | (m)(v) | Pharmaceuticals, Biotechnology & Life Sciences | L+638 | 1.0% | 2/12/27 | 97.1 | 93.0 | 98.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Foundation Consumer Brands LLC | (x) | Pharmaceuticals, Biotechnology & Life Sciences | L+638 | 1.0% | 2/12/27 | 6.6 | 6.6 | 6.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Foundation Risk Partners Corp | (v) | Insurance | L+575 | 0.8% | 10/29/28 | 74.3 | 73.2 | 73.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Foundation Risk Partners Corp | (x) | Insurance | L+575 | 0.8% | 10/29/27 | 7.0 | 6.9 | 6.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Foundation Risk Partners Corp | (x) | Insurance | L+575 | 0.8% | 10/29/28 | 6.2 | 6.2 | 6.1 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Frontline Technologies Group LLC | (i)(m)(v) | Software & Services | L+525 | 1.0% | 9/18/23 | $ | 78.7 | $ | 78.1 | $ | 78.7 | |||||||||||||||||||||||||||||||||||||||||||||
Frontline Technologies Group LLC | (s)(v) | Software & Services | L+525 | 1.0% | 9/18/23 | 75.6 | 71.7 | 76.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Galaxy Universal LLC | (v) | Consumer Durables & Apparel | L+575 | 1.0% | 11/1/26 | 88.9 | 88.9 | 88.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Galaxy Universal LLC | (v) | Consumer Durables & Apparel | 5.0% | 2/4/22 | 0.9 | 0.9 | 0.9 | |||||||||||||||||||||||||||||||||||||||||||||||||
Galaxy Universal LLC | (x) | Consumer Durables & Apparel | 5.0% | 2/4/22 | 7.7 | 7.7 | 7.7 | |||||||||||||||||||||||||||||||||||||||||||||||||
Galway Partners Holdings LLC | (k)(l)(t)(v) | Insurance | L+525, 0.0% PIK (1.3% Max PIK) | 0.8% | 9/29/28 | 128.1 | 125.5 | 126.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Galway Partners Holdings LLC | (x) | Insurance | L+525, 0.0% PIK (1.3% Max PIK) | 0.8% | 9/30/27 | 12.0 | 11.7 | 11.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Galway Partners Holdings LLC | (x) | Insurance | L+525, 0.0% PIK (1.3% Max PIK) | 0.8% | 9/29/28 | 22.4 | 22.4 | 22.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
General Datatech LP | (f)(k)(l)(m)(t)(v) | Software & Services | L+625 | 1.0% | 6/18/27 | 169.1 | 167.5 | 166.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Greystone Equity Member Corp | (v)(w) | Diversified Financials | L+725 | 3.8% | 4/1/26 | 194.8 | 182.7 | 192.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Heniff Transportation Systems LLC | (v) | Transportation | L+575 | 1.0% | 12/3/24 | 5.9 | 5.6 | 5.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Heniff Transportation Systems LLC | (f)(i)(k)(l)(m)(v) | Transportation | L+575 | 1.0% | 12/3/26 | 137.7 | 130.5 | 128.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Heniff Transportation Systems LLC | (v) | Transportation | L+625 | 1.0% | 12/3/26 | 19.4 | 18.6 | 18.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Heniff Transportation Systems LLC | (x) | Transportation | L+575 | 1.0% | 12/3/24 | 11.9 | 11.9 | 11.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
hibu Inc | (f)(k)(l)(m)(t)(v) | Commercial & Professional Services | L+625 | 1.0% | 5/4/27 | 101.6 | 96.6 | 104.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Higginbotham Insurance Agency Inc | (v) | Insurance | L+550 | 0.8% | 11/25/26 | 25.3 | 24.6 | 25.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Higginbotham Insurance Agency Inc | (v) | Insurance | L+525 | 0.8% | 11/25/26 | 4.5 | 4.3 | 4.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Higginbotham Insurance Agency Inc | (x) | Insurance | L+525 | 0.8% | 11/25/26 | 32.6 | 32.6 | 33.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc | (ad)(v) | Capital Goods | L+600 | 1.0% | 6/30/26 | 33.6 | 33.6 | 33.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc | (ad)(v) | Capital Goods | L+600 | 1.0% | 6/30/26 | 2.0 | 2.0 | 2.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Hudson Technologies Co | (v)(w) | Commercial & Professional Services | L+1,025 | 1.0% | 10/10/23 | 79.9 | 72.3 | 82.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Individual FoodService | (v) | Capital Goods | L+625 | 1.0% | 11/22/24 | 0.2 | 0.2 | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Individual FoodService | (m)(s)(v) | Capital Goods | L+625 | 1.0% | 11/22/25 | 90.8 | 86.5 | 91.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Individual FoodService | (x) | Capital Goods | L+625 | 1.0% | 11/22/24 | 4.5 | 4.5 | 4.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Individual FoodService | (x) | Capital Goods | L+625 | 0.0% | 11/22/25 | 5.6 | 5.6 | 5.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Industria Chimica Emiliana Srl | (v)(w) | Pharmaceuticals, Biotechnology & Life Sciences | E+725 | 0.0% | 9/27/26 | € | 88.8 | 101.3 | 103.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Industry City TI Lessor LP | (s)(v) | Consumer Services | 10.8%, 1.0% PIK (1.0% Max PIK) | 6/30/26 | $ | 29.9 | 30.0 | 32.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Insight Global LLC | (v) | Commercial & Professional Services | L+600 | 0.8% | 9/22/27 | 10.5 | 10.5 | 10.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Insight Global LLC | (i)(v) | Commercial & Professional Services | L+600 | 0.8% | 9/22/28 | 230.0 | 227.8 | 227.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Insight Global LLC | (x) | Commercial & Professional Services | L+600 | 0.8% | 9/22/27 | 10.5 | 10.5 | 10.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Insight Global LLC | (x) | Commercial & Professional Services | L+600 | 0.8% | 11/15/28 | 20.0 | 20.0 | 19.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Integrity Marketing Group LLC | (x) | Insurance | L+550 | 0.8% | 8/27/25 | 145.3 | 145.3 | 143.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
J S Held LLC | (f)(i)(m)(s)(v) | Insurance | L+550 | 1.0% | 7/1/25 | 165.4 | 159.8 | 167.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
J S Held LLC | (v) | Insurance | L+550 | 1.0% | 7/1/25 | 2.8 | 2.6 | 2.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
J S Held LLC | (x) | Insurance | L+550 | 1.0% | 7/1/25 | 16.7 | 16.7 | 16.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
J S Held LLC | (x) | Insurance | L+550 | 1.0% | 7/1/25 | 11.3 | 11.3 | 11.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Jarrow Formulas Inc | (f)(i)(k)(l)(m)(s)(t)(v) | Household & Personal Products | L+625 | 1.0% | 11/30/26 | 186.6 | 177.1 | 190.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Karman Space Inc | (m)(v) | Capital Goods | L+675 | 1.0% | 12/21/25 | 92.4 | 88.8 | 94.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Karman Space Inc | (v) | Capital Goods | L+675 | 1.0% | 12/21/25 | 4.4 | 4.2 | 4.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Karman Space Inc | (x) | Capital Goods | L+675 | 1.0% | 12/21/25 | 1.1 | 1.1 | 1.1 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
KBP Investments LLC | (v) | Food & Staples Retailing | L+500 | 0.8% | 5/26/27 | $ | 23.6 | $ | 22.9 | $ | 23.3 | |||||||||||||||||||||||||||||||||||||||||||||
KBP Investments LLC | (x) | Food & Staples Retailing | L+500 | 0.8% | 5/26/27 | 3.9 | 3.9 | 3.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Kellermeyer Bergensons Services LLC | (f)(i)(k)(l)(m)(s)(t)(v) | Commercial & Professional Services | L+575 | 1.0% | 11/7/26 | 341.7 | 329.6 | 342.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Kellermeyer Bergensons Services LLC | (x) | Commercial & Professional Services | L+575 | 1.0% | 11/7/26 | 31.0 | 31.0 | 31.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lakefield Veterinary Group | (f)(i)(v) | Consumer Services | L+550 | 0.8% | 11/23/28 | 115.6 | 114.5 | 114.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lakefield Veterinary Group | (x) | Consumer Services | L+550 | 0.8% | 11/23/28 | 56.3 | 56.3 | 55.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lakeview Farms Inc | (l)(m)(v) | Food, Beverage & Tobacco | L+625 | 1.0% | 6/10/27 | 77.0 | 75.1 | 76.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lakeview Farms Inc | (v) | Food, Beverage & Tobacco | L+625 | 1.0% | 6/10/27 | 3.4 | 3.4 | 3.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lakeview Farms Inc | (x) | Food, Beverage & Tobacco | L+625 | 1.0% | 6/10/27 | 10.8 | 10.8 | 10.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lakeview Farms Inc | (x) | Food, Beverage & Tobacco | L+625 | 1.0% | 6/10/27 | 3.4 | 3.4 | 3.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lexitas Inc | (i)(k)(l)(m)(v) | Commercial & Professional Services | L+600 | 1.0% | 11/14/25 | 106.8 | 103.3 | 107.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lexitas Inc | (x) | Commercial & Professional Services | L+600 | 1.0% | 11/14/25 | 10.3 | 10.3 | 10.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lexitas Inc | (x) | Commercial & Professional Services | L+600 | 1.0% | 11/14/25 | 5.4 | 5.4 | 5.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lionbridge Technologies Inc | (f)(k)(s)(t) | Consumer Services | L+700 | 1.0% | 12/29/25 | 68.9 | 64.0 | 70.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lipari Foods LLC | (f)(m)(s)(v) | Food & Staples Retailing | L+575 | 1.0% | 1/6/25 | 272.0 | 261.2 | 272.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lloyd's Register Quality Assurance Ltd | (w)(x) | Consumer Services | SA+600, 0.0% PIK (6.3% Max PIK) | 0.0% | 12/2/28 | £ | 15.0 | 20.0 | 19.7 | |||||||||||||||||||||||||||||||||||||||||||||||
Matchesfashion Ltd | (v)(w) | Consumer Durables & Apparel | L+463, 3.0% PIK (3.0% Max PIK) | 0.0% | 10/11/24 | $ | 12.9 | 12.4 | 8.2 | |||||||||||||||||||||||||||||||||||||||||||||||
MB2 Dental Solutions LLC | (k)(l)(m)(t)(v) | Health Care Equipment & Services | L+600 | 1.0% | 1/29/27 | 231.0 | 220.3 | 231.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
MB2 Dental Solutions LLC | (x) | Health Care Equipment & Services | L+600 | 1.0% | 1/29/27 | 56.7 | 56.7 | 56.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Medallia Inc | (v) | Software & Services | L+675 PIK (L+675 Max PIK) | 0.8% | 10/29/28 | 147.9 | 146.5 | 146.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Med-Metrix | (v) | Software & Services | L+600 | 1.0% | 9/15/27 | 62.4 | 61.8 | 61.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Med-Metrix | (x) | Software & Services | L+600 | 1.0% | 9/15/27 | 31.3 | 31.3 | 31.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Med-Metrix | (x) | Software & Services | L+600 | 1.0% | 9/15/27 | 7.8 | 7.8 | 7.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Miami Beach Medical Group LLC | (k)(l)(m)(t)(v) | Health Care Equipment & Services | L+650 | 1.0% | 12/14/26 | 180.6 | 171.4 | 178.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc | (ac)(v) | Capital Goods | 7.5% PIK (7.5% Max PIK) | 3/29/24 | 51.4 | 46.0 | 51.0 | |||||||||||||||||||||||||||||||||||||||||||||||||
Monitronics International Inc | (aa)(f)(v) | Commercial & Professional Services | L+650 | 1.3% | 3/29/24 | 18.8 | 17.2 | 17.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Monitronics International Inc | (v) | Commercial & Professional Services | L+500 | 1.5% | 7/3/24 | 47.3 | 44.8 | 45.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Monitronics International Inc | (x) | Commercial & Professional Services | L+500 | 1.5% | 7/3/24 | 22.7 | 22.7 | 21.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Motion Recruitment Partners LLC | (v) | Commercial & Professional Services | L+650 | 1.0% | 12/19/25 | 4.8 | 4.5 | 4.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Motion Recruitment Partners LLC | (f)(i)(m)(t)(v) | Commercial & Professional Services | L+650 | 1.0% | 12/22/25 | 119.9 | 115.5 | 118.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Motion Recruitment Partners LLC | (x) | Commercial & Professional Services | L+650 | 1.0% | 12/19/25 | 59.6 | 59.6 | 58.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
NBG Home | (v) | Consumer Durables & Apparel | L+550 | 1.0% | 4/26/24 | 67.7 | 67.6 | 53.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
NCI Inc | (v) | Software & Services | L+750, 0.0% PIK (2.5% Max PIK) | 1.0% | 8/15/24 | 78.8 | 77.7 | 72.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Documents | (v) | Software & Services | L+650 | 1.0% | 6/30/27 | 24.6 | 24.4 | 24.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Documents | (v) | Software & Services | L+675 | 1.0% | 6/30/27 | 0.9 | 0.9 | 0.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Documents | (x) | Software & Services | L+675 | 1.0% | 6/30/27 | 2.1 | 2.1 | 2.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Documents | (x) | Software & Services | L+675 | 1.0% | 6/30/27 | 7.4 | 7.3 | 7.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
New Era Technology Inc | (i)(l)(m)(t)(v) | Software & Services | L+625 | 1.0% | 10/31/26 | 82.5 | 78.6 | 82.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
New Era Technology Inc | (v) | Software & Services | L+625 | 1.0% | 10/31/26 | 1.6 | 1.5 | 1.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
New Era Technology Inc | (x) | Software & Services | L+625 | 1.0% | 10/31/26 | 13.8 | 13.8 | 13.7 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
New Era Technology Inc | (x) | Software & Services | L+625 | 1.0% | 10/31/26 | $ | 3.1 | $ | 3.1 | $ | 3.1 | |||||||||||||||||||||||||||||||||||||||||||||
Omnimax International Inc | (f)(i)(k)(l)(m)(v) | Capital Goods | L+725 | 1.0% | 10/8/26 | 218.5 | 209.2 | 217.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc | (aa)(ad)(v) | Health Care Equipment & Services | L+550 | 0.8% | 4/22/27 | 5.0 | 4.7 | 5.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Oxford Global Resources LLC | (f)(k)(l)(m)(t) | Commercial & Professional Services | L+600 | 1.0% | 8/17/27 | 88.4 | 87.6 | 88.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Oxford Global Resources LLC | (v) | Commercial & Professional Services | L+600 | 1.0% | 8/17/27 | 4.0 | 4.0 | 4.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Oxford Global Resources LLC | (x) | Commercial & Professional Services | L+600 | 1.0% | 8/17/27 | 15.3 | 15.3 | 15.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Oxford Global Resources LLC | (x) | Commercial & Professional Services | L+600 | 1.0% | 8/17/27 | 3.7 | 3.7 | 3.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
P2 Energy Solutions Inc. | (v) | Software & Services | L+675 | 1.0% | 1/31/25 | 4.6 | 4.3 | 4.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
P2 Energy Solutions Inc. | (f)(i)(k)(m)(s)(t)(v) | Software & Services | L+675 | 1.0% | 2/2/26 | 249.1 | 232.7 | 232.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
P2 Energy Solutions Inc. | (x) | Software & Services | L+675 | 1.0% | 1/31/25 | 10.6 | 10.6 | 9.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Parata Systems | (f)(m)(v) | Health Care Equipment & Services | L+575 | 1.0% | 6/30/27 | 73.9 | 73.4 | 74.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Parata Systems | (x) | Health Care Equipment & Services | L+575 | 1.0% | 6/30/27 | 22.0 | 22.0 | 22.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Parata Systems | (x) | Health Care Equipment & Services | L+575 | 1.0% | 6/30/27 | 5.5 | 5.5 | 5.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Parts Town LLC | (v) | Retailing | L+550 | 0.8% | 11/1/28 | 87.4 | 86.6 | 86.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Parts Town LLC | (x) | Retailing | L+550 | 0.8% | 11/1/28 | 63.9 | 63.9 | 63.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
PartsSource Inc | (v) | Health Care Equipment & Services | L+575 | 0.8% | 8/23/28 | 65.8 | 65.0 | 64.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
PartsSource Inc | (x) | Health Care Equipment & Services | L+575 | 0.8% | 8/24/26 | 4.3 | 4.2 | 4.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
PartsSource Inc | (x) | Health Care Equipment & Services | L+575 | 0.8% | 8/23/28 | 22.9 | 22.6 | 22.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Peraton Corp | (aa)(v) | Capital Goods | L+375 | 0.8% | 2/1/28 | 9.0 | 8.7 | 9.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Performance Health Holdings Inc | (f)(i)(v) | Health Care Equipment & Services | L+600 | 1.0% | 7/12/27 | 120.7 | 119.5 | 120.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Petroplex Acidizing Inc | (ac)(v)(y)(z) | Energy | L+825, 1.8% PIK (1.8% Max PIK) | 1.0% | 6/30/23 | 27.0 | 22.0 | 9.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Polyconcept North America Inc | (aa)(v) | Household & Personal Products | L+450 PIK (L+450 Max PIK) | 1.0% | 8/16/23 | 22.8 | 22.6 | 22.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Premium Credit Ltd | (v)(w) | Diversified Financials | L+650 | 0.0% | 1/16/26 | £ | 55.9 | 72.6 | 75.7 | |||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | (ad)(v) | Media & Entertainment | L+500, 3.1% PIK (3.1% Max PIK) | 1.0% | 8/21/24 | $ | 64.4 | 60.2 | 64.4 | |||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | (ad)(v) | Media & Entertainment | L+300, 5.5% PIK (5.5% Max PIK) | 0.3% | 8/21/24 | 133.3 | 124.9 | 133.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | (ad)(v) | Media & Entertainment | L+550 PIK (L+550 Max PIK) | 1.0% | 8/21/24 | 0.1 | 0.1 | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | (ad)(v) | Media & Entertainment | L+750, 0.0% PIK (3.1% Max PIK) | 1.0% | 8/21/24 | 20.2 | 20.1 | 20.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | (ad)(x) | Media & Entertainment | L+750, 0.0% PIK (3.1% Max PIK) | 1.0% | 8/21/24 | 10.1 | 10.1 | 10.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Propulsion Acquisition LLC | (f)(l)(s)(t)(v) | Capital Goods | L+700 | 1.0% | 7/13/24 | 60.5 | 56.8 | 61.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
PSKW LLC | (i)(l)(s)(t)(v) | Health Care Equipment & Services | L+625 | 1.0% | 3/9/26 | 294.7 | 283.5 | 294.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Qdoba Restaurant Corp | (aa)(m)(v) | Consumer Services | L+700 | 1.0% | 3/21/25 | 10.9 | 10.8 | 10.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Reliant Rehab Hospital Cincinnati LLC | (f)(i)(l)(m)(s)(v) | Health Care Equipment & Services | L+625 | 0.0% | 2/28/26 | 126.8 | 120.7 | 124.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Revere Superior Holdings Inc | (m)(v) | Software & Services | L+575 | 1.0% | 9/30/26 | 23.0 | 22.4 | 23.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Revere Superior Holdings Inc | (x) | Software & Services | L+575 | 1.0% | 9/30/26 | 3.2 | 3.2 | 3.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Revere Superior Holdings, Inc | (v) | Software & Services | L+575 | 1.0% | 9/30/26 | 3.3 | 3.3 | 3.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Revere Superior Holdings, Inc | (x) | Software & Services | L+575 | 1.0% | 9/30/26 | 7.4 | 7.4 | 7.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Rise Baking Company | (v) | Food, Beverage & Tobacco | L+625 | 1.0% | 8/13/27 | 2.8 | 2.6 | 2.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Rise Baking Company | (l)(m) | Food, Beverage & Tobacco | L+625 | 1.0% | 8/13/27 | 28.8 | 28.1 | 28.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Rise Baking Company | (x) | Food, Beverage & Tobacco | L+625 | 1.0% | 8/13/27 | 2.5 | 2.5 | 2.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
RSC Insurance Brokerage Inc | (f)(i)(k)(l)(m)(s)(v) | Insurance | L+550 | 0.8% | 10/30/26 | 277.8 | 268.1 | 280.6 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
RSC Insurance Brokerage Inc | (v) | Insurance | L+550 | 0.8% | 10/30/26 | $ | 4.1 | $ | 4.0 | $ | 4.1 | |||||||||||||||||||||||||||||||||||||||||||||
RSC Insurance Brokerage Inc | (x) | Insurance | L+550 | 0.8% | 10/30/26 | 16.1 | 16.1 | 16.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
RSC Insurance Brokerage Inc | (x) | Insurance | L+550 | 0.8% | 10/30/26 | 3.6 | 3.6 | 3.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Safe-Guard Products International LLC | (f)(m)(t) | Diversified Financials | L+500 | 0.5% | 1/27/27 | 45.1 | 42.5 | 45.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
SAMBA Safety Inc | (x) | Software & Services | L+575 | 1.0% | 9/1/27 | 2.4 | 2.4 | 2.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
SAMBA Safety Inc | (x) | Software & Services | L+575 | 1.0% | 9/1/27 | 6.1 | 6.1 | 6.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
SavATree LLC | (v) | Consumer Services | L+550 | 0.8% | 10/12/28 | 1.9 | 1.8 | 1.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
SavATree LLC | (x) | Consumer Services | L+550 | 0.8% | 10/12/28 | 7.6 | 7.6 | 7.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
SavATree LLC | (x) | Consumer Services | L+550 | 0.8% | 10/12/28 | 6.3 | 6.3 | 6.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sequa Corp | (aa)(m)(v) | Capital Goods | L+675, 0.0% PIK (1.0% Max PIK) | 1.0% | 11/28/23 | 16.0 | 15.4 | 16.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sequa Corp | (v) | Capital Goods | L+900, 0.0% PIK (9.5% Max PIK) | 1.0% | 7/31/25 | 16.4 | 16.0 | 17.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sequel Youth & Family Services LLC | (v)(y)(z) | Health Care Equipment & Services | L+800 | 1.0% | 9/1/23 | 170.0 | 106.4 | 51.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sequel Youth & Family Services LLC | (v)(y)(z) | Health Care Equipment & Services | L+700 | 1.0% | 9/1/23 | 29.2 | 19.3 | 8.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sequel Youth & Family Services LLC | (v) | Health Care Equipment & Services | L+700 | 1.0% | 9/1/23 | 36.0 | 36.0 | 36.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sequel Youth & Family Services LLC | (x) | Health Care Equipment & Services | L+700 | 1.0% | 9/1/23 | 6.0 | 6.0 | 6.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
SitusAMC Holdings Corp | (k)(l)(v) | Real Estate | L+575 | 0.8% | 12/22/27 | 95.4 | 94.5 | 94.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sorenson Communications LLC | (aa)(ac)(f)(k)(t)(v) | Telecommunication Services | L+550 | 0.8% | 3/17/26 | 59.9 | 56.9 | 60.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Source Code LLC | (k)(l)(t) | Software & Services | L+650 | 1.0% | 6/30/27 | 53.3 | 52.3 | 52.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Source Code LLC | (x) | Software & Services | L+650 | 1.0% | 6/30/27 | 15.3 | 15.0 | 15.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Spins LLC | (m)(s)(t)(v) | Software & Services | L+550 | 1.0% | 1/20/27 | 60.7 | 57.3 | 61.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Spins LLC | (x) | Software & Services | L+550 | 1.0% | 1/20/27 | 7.9 | 7.9 | 7.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Staples Canada | (v)(w) | Retailing | C+700 | 1.0% | 9/12/24 | C$ | 35.8 | 28.0 | 29.1 | |||||||||||||||||||||||||||||||||||||||||||||||
Summit Interconnect Inc | (f)(k)(l)(t)(v) | Capital Goods | L+600 | 1.0% | 9/22/28 | $ | 107.9 | 106.8 | 106.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Summit Interconnect Inc | (x) | Capital Goods | L+600 | 1.0% | 9/22/28 | 48.7 | 48.7 | 48.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc | (ac)(v) | Software & Services | SF+375, 3.8% PIK (3.8% Max PIK) | 1.0% | 7/1/24 | 5.8 | 5.7 | 6.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sweeping Corp of America Inc | (m)(v) | Commercial & Professional Services | L+575 | 1.0% | 11/30/26 | 55.8 | 53.3 | 56.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sweeping Corp of America Inc | (v) | Commercial & Professional Services | L+575 | 1.0% | 11/30/26 | 1.8 | 1.8 | 1.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sweeping Corp of America Inc | (x) | Commercial & Professional Services | L+575 | 1.0% | 11/30/26 | 17.2 | 17.2 | 17.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sweeping Corp of America Inc | (x) | Commercial & Professional Services | L+575 | 1.0% | 11/30/26 | 3.9 | 3.9 | 3.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Tangoe LLC | (f)(i)(m)(s)(v) | Software & Services | L+650 | 1.0% | 11/28/25 | 190.2 | 171.5 | 147.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
ThermaSys Corp | (ac)(v)(y)(z) | Capital Goods | L+1,100 PIK (L+1,100 Max PIK) | 1.0% | 1/1/24 | 8.5 | 8.3 | 3.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
ThreeSixty Group | (m)(v) | Retailing | L+500, 2.5% PIK (2.5% Max PIK) | 1.5% | 3/1/23 | 48.5 | 48.4 | 47.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
ThreeSixty Group | (m)(v) | Retailing | L+500, 2.5% PIK (2.5% Max PIK) | 1.5% | 3/1/23 | 48.3 | 48.1 | 47.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Time Manufacturing Co | (v) | Capital Goods | L+650 | 0.8% | 12/1/27 | 45.8 | 44.8 | 44.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Time Manufacturing Co | (v) | Capital Goods | L+650 | 0.8% | 12/1/27 | 5.3 | 5.3 | 5.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Time Manufacturing Co | (x) | Capital Goods | L+650 | 0.8% | 12/1/27 | 13.7 | 13.7 | 13.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Time Manufacturing Co | (x) | Capital Goods | L+650 | 0.8% | 12/1/27 | 4.5 | 4.5 | 4.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Time Manufacturing Co | (x) | Capital Goods | E+650 | 0.8% | 12/1/27 | € | 15.0 | 17.0 | 17.2 | |||||||||||||||||||||||||||||||||||||||||||||||
Transaction Services Group Ltd | (v)(w) | Software & Services | L+650 | 0.0% | 10/15/26 | £ | 13.9 | 17.7 | 18.3 | |||||||||||||||||||||||||||||||||||||||||||||||
Transaction Services Group Ltd | (v)(w) | Software & Services | B+650 | 0.0% | 10/15/26 | A$ | 80.3 | 55.7 | 57.0 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Transaction Services Group Ltd | (v)(w) | Software & Services | L+650 | 0.0% | 10/15/26 | $ | 126.2 | $ | 122.2 | $ | 123.1 | |||||||||||||||||||||||||||||||||||||||||||||
Warren Resources Inc | (ad)(v) | Energy | L+900, 1.0% PIK (1.0% Max PIK) | 1.0% | 5/22/24 | 18.7 | 17.4 | 18.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Wealth Enhancement Group LLC | (v)(w) | Diversified Financials | L+625 | 1.0% | 10/4/27 | 15.1 | 15.0 | 15.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Wealth Enhancement Group LLC | (v)(w) | Diversified Financials | L+625 | 1.0% | 10/4/27 | 0.7 | 0.7 | 0.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Wealth Enhancement Group LLC | (w)(x) | Diversified Financials | L+625 | 1.0% | 10/4/27 | 13.2 | 13.2 | 13.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Wealth Enhancement Group LLC | (w)(x) | Diversified Financials | L+625 | 1.0% | 10/4/27 | 1.0 | 1.0 | 1.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Woolpert Inc | (f)(k)(l)(m)(t)(v) | Capital Goods | L+600 | 1.0% | 4/5/28 | 139.2 | 132.5 | 141.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Woolpert Inc | (x) | Capital Goods | L+600 | 1.0% | 4/5/28 | 25.6 | 25.6 | 25.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total Senior Secured Loans—First Lien | 11,165.5 | 11,236.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unfunded Loan Commitments | (1,470.4) | (1,470.4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Senior Secured Loans—First Lien | 9,695.1 | 9,765.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—Second Lien—20.1% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Advanced Lighting Technologies Inc | (v)(y)(z) | Materials | L+600 | 1.0% | 3/16/27 | 11.3 | 10.5 | 6.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Ammeraal Beltech Holding BV | (f)(s)(v)(w) | Capital Goods | L+775 | 0.0% | 9/12/26 | 44.9 | 40.8 | 44.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd | (ad)(v)(w)(y)(z) | Automobiles & Components | E+500 PIK (E+500 Max PIK) | 0.0% | 4/4/24 | € | 34.7 | 39.1 | — | |||||||||||||||||||||||||||||||||||||||||||||||
Apex Group Limited | (v)(w) | Diversified Financials | L+675 | 0.5% | 7/27/29 | $ | 8.0 | 7.9 | 8.0 | |||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc | (ac)(v)(y)(z) | Retailing | 10.0% PIK (10.0% Max PIK) | 7/31/25 | 25.5 | 4.2 | 6.7 | |||||||||||||||||||||||||||||||||||||||||||||||||
Byrider Finance LLC | (u)(v) | Automobiles & Components | L+1,000, 0.5% PIK (0.5% Max PIK) | 1.3% | 6/7/22 | 54.3 | 52.8 | 54.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Constellis Holdings LLC | (ac)(f)(v) | Capital Goods | L+1,100, 0.0% PIK (10.0% Max PIK) | 1.0% | 3/27/25 | 13.5 | 12.5 | 12.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Cubic Corp | (v) | Software & Services | L+763 | 0.8% | 5/25/29 | 54.8 | 51.8 | 55.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Datatel Inc | (v) | Software & Services | L+800 | 1.0% | 10/9/28 | 179.2 | 170.1 | 184.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Fairway Group Holdings Corp | (ac)(v)(y)(z) | Food & Staples Retailing | 11.0% PIK (11.0% Max PIK) | 2/24/24 | 6.9 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Galaxy Universal LLC | (v) | Consumer Durables & Apparel | L+500 | 1.0% | 11/1/26 | 36.2 | 35.8 | 35.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Misys Ltd | (aa)(v)(w) | Software & Services | L+725 | 1.0% | 6/13/25 | 21.8 | 20.5 | 21.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
NBG Home | (v)(y)(z) | Consumer Durables & Apparel | L+1,275 PIK (L+1,275 Max PIK) | 1.0% | 9/30/24 | 31.4 | 28.2 | 8.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
OEConnection LLC | (f)(v) | Software & Services | L+825 | 0.0% | 9/25/27 | 27.0 | 26.6 | 26.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
OEConnection LLC | (v) | Software & Services | L+700 | 0.5% | 9/25/27 | 49.0 | 49.0 | 48.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Peraton Corp | (s)(v) | Capital Goods | L+800 | 1.0% | 2/1/29 | 175.0 | 165.3 | 178.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Peraton Corp | (v) | Capital Goods | L+775 | 0.8% | 2/1/29 | 156.4 | 149.9 | 158.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Petrochoice Holdings Inc | (v) | Capital Goods | L+875 | 1.0% | 8/21/23 | 65.0 | 64.4 | 57.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Polyconcept North America Inc | (v) | Household & Personal Products | 11.0% PIK (11.0% Max PIK) | 2/16/24 | 10.0 | 9.9 | 10.0 | |||||||||||||||||||||||||||||||||||||||||||||||||
Pure Fishing Inc | (f)(m)(v) | Consumer Durables & Apparel | L+838 | 1.0% | 12/21/26 | 177.0 | 170.6 | 168.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sequa Corp | (aa)(m)(v) | Capital Goods | L+1,075, 0.0% PIK (6.8% Max PIK) | 1.0% | 4/28/24 | 5.9 | 5.7 | 5.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
SIRVA Worldwide Inc | (aa)(v) | Commercial & Professional Services | L+950 | 0.0% | 8/3/26 | 6.5 | 5.4 | 5.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Solera LLC | (aa)(v) | Software & Services | L+800 | 1.0% | 6/4/29 | 312.4 | 295.8 | 317.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc | (ac)(v)(y)(z) | Software & Services | SF+400, 2.8% PIK (2.8% Max PIK) | 1.0% | 8/1/24 | 14.6 | 13.7 | 8.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Valeo Foods Group Ltd | (v)(w) | Food, Beverage & Tobacco | SA+800 | 0.0% | 10/1/29 | £ | 9.3 | 12.3 | 12.2 | |||||||||||||||||||||||||||||||||||||||||||||||
Valeo Foods Group Ltd | (w)(x) | Food, Beverage & Tobacco | E+750 | 0.0% | 10/1/29 | € | 6.2 | 7.2 | 6.8 | |||||||||||||||||||||||||||||||||||||||||||||||
Vantage Specialty Chemicals Inc | (aa)(v) | Materials | L+825 | 1.0% | 10/27/25 | $ | 0.8 | 0.7 | 0.7 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Wittur Holding GmbH | (v)(w) | Capital Goods | E+850, 0.5% PIK (0.5% Max PIK) | 0.0% | 9/23/27 | € | 112.8 | 120.9 | 120.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Total Senior Secured Loans—Second Lien | 1,571.6 | 1,563.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unfunded Loan Commitments | (7.2) | (7.2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Senior Secured Loans—Second Lien | 1,564.4 | 1,556.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Senior Secured Debt—1.6% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Angelica Corp | (h)(y)(z) | Health Care Equipment & Services | 10.0% PIK (10.0% Max PIK) | 12/30/22 | $ | 53.4 | 42.3 | 5.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co | (aa)(ad)(s)(v) | Materials | 10.3% | 6/1/26 | 76.5 | 75.5 | 81.0 | |||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc | (ad)(v) | Health Care Equipment & Services | 8.5% PIK (8.5% Max PIK) | 11/1/28 | 23.5 | 21.6 | 23.5 | |||||||||||||||||||||||||||||||||||||||||||||||||
TruckPro LLC | (aa)(v) | Capital Goods | 11.0% | 10/15/24 | 9.2 | 9.2 | 10.0 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Other Senior Secured Debt | 148.6 | 119.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt—1.4% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (aa)(v)(w) | Insurance | 12.8% PIK (12.8% Max PIK) | 1/15/27 | 0.9 | 0.9 | 1.0 | |||||||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp | (ad)(s)(v)(w)(y)(z) | Capital Goods | 10.0% PIK (10.0% Max PIK) | 8/9/28 | 18.3 | 4.8 | 7.1 | |||||||||||||||||||||||||||||||||||||||||||||||||
ClubCorp Club Operations Inc | (aa)(v) | Consumer Services | 8.5% | 9/15/25 | 37.3 | 35.4 | 35.7 | |||||||||||||||||||||||||||||||||||||||||||||||||
Encora Digital Inc | (v) | Software & Services | 9.8% PIK (9.8% Max PIK) | 12/13/29 | 21.6 | 20.9 | 20.9 | |||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders | (ad)(v)(w)(y) | Consumer Durables & Apparel | € | 24.8 | 26.9 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders | (ad)(v)(w)(y) | Consumer Durables & Apparel | 110.5 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders | (ad)(v)(w)(y)(z) | Consumer Durables & Apparel | 13.0% PIK (13.0% Max PIK) | 11/30/25 | 134.4 | 99.4 | 46.6 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Subordinated Debt | 188.3 | 111.3 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c)/ Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||
Asset Based Finance—29.1% | ||||||||||||||||||||||||||||||||||||||||||||||||||
801 5th Ave, Seattle, Private Equity | (ad)(v)(w)(y) | Real Estate | 8,554,983 | $ | 14.1 | $ | 23.1 | |||||||||||||||||||||||||||||||||||||||||||
801 5th Ave, Seattle, Structure Mezzanine | (ad)(v)(w) | Real Estate | 8.0%, 3.0% PIK (3.0% Max PIK) | 12/19/29 | $ | 57.2 | 55.1 | 57.2 | ||||||||||||||||||||||||||||||||||||||||||
Abacus JV, Private Equity | (v)(w) | Insurance | 44,833,382 | 43.8 | 48.1 | |||||||||||||||||||||||||||||||||||||||||||||
Accelerator Investments Aggregator LP, Private Equity | (v)(w)(y) | Diversified Financials | 5,397,365 | 6.3 | 4.7 | |||||||||||||||||||||||||||||||||||||||||||||
Altavair AirFinance, Private Equity | (v)(w) | Capital Goods | 94,679,609 | 95.6 | 114.3 | |||||||||||||||||||||||||||||||||||||||||||||
Australis Maritime, Common Stock | (v)(w) | Transportation | 46,781,830 | 45.1 | 46.7 | |||||||||||||||||||||||||||||||||||||||||||||
Avida Holding AB, Common Stock | (ad)(v)(w)(y) | Diversified Financials | 405,023,756 | 44.6 | 52.3 | |||||||||||||||||||||||||||||||||||||||||||||
Bank of Ireland, Class B Credit Linked Floating Rate Note | (g)(w) | Banks | L+1,185 | 12/4/27 | $ | 14.7 | 14.7 | 14.7 | ||||||||||||||||||||||||||||||||||||||||||
Byrider Finance LLC, Structured Mezzanine | (x) | Automobiles & Components | L+1,050 | 0.3% | 6/3/28 | $ | 23.0 | 23.0 | 23.0 | |||||||||||||||||||||||||||||||||||||||||
Callodine Commercial Finance LLC, 2L Term Loan A | (v) | Diversified Financials | L+900 | 1.0% | 11/3/25 | $ | 125.0 | 118.0 | 125.6 | |||||||||||||||||||||||||||||||||||||||||
Callodine Commercial Finance LLC, 2L Term Loan B | (x) | Diversified Financials | L+900 | 1.0% | 11/3/25 | $ | 40.3 | 40.3 | 40.5 | |||||||||||||||||||||||||||||||||||||||||
Capital Automotive LP, Private Equity | (v)(w) | Real Estate | 21,640,936 | 23.7 | 28.1 | |||||||||||||||||||||||||||||||||||||||||||||
Capital Automotive LP, Structured Mezzanine | (v)(w) | Real Estate | 11.0% | 12/22/28 | $ | 42.7 | 41.9 | 42.7 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c)/ Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||
Global Jet Capital LLC, Preferred Stock | (j)(u)(v)(y) | Commercial & Professional Services | 149,494,590 | $ | 69.4 | $ | — | |||||||||||||||||||||||||||||||||||||||||||
Global Jet Capital LLC, Preferred Stock | (j)(u)(v) | Commercial & Professional Services | 9.0% PIK (9.0% Max PIK) | 10/1/28 | $ | 414.0 | 304.8 | 302.2 | ||||||||||||||||||||||||||||||||||||||||||
Global Jet Capital LLC, Structured Mezzanine | (j)(u)(v)(w) | Commercial & Professional Services | 15.0% PIK (15.0% Max PIK) | 12/4/25 | $ | 53.6 | 36.9 | 53.6 | ||||||||||||||||||||||||||||||||||||||||||
Global Jet Capital LLC, Structured Mezzanine | (j)(u)(v)(w) | Commercial & Professional Services | 15.0% PIK (15.0% Max PIK) | 12/9/25 | $ | 39.2 | 26.9 | 39.2 | ||||||||||||||||||||||||||||||||||||||||||
Global Jet Capital LLC, Structured Mezzanine | (j)(u)(v)(w) | Commercial & Professional Services | 15.0% PIK (15.0% Max PIK) | 1/29/26 | $ | 4.6 | 3.1 | 4.6 | ||||||||||||||||||||||||||||||||||||||||||
Global Lending Services LLC, Private Equity | (v)(w) | Diversified Financials | 12,222,437 | 14.2 | 15.5 | |||||||||||||||||||||||||||||||||||||||||||||
Global Lending Services LLC, Private Equity | (v)(w) | Diversified Financials | 22,352,639 | 24.2 | 28.5 | |||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV 2, Private Equity | (ac)(v)(w)(y) | Real Estate | 1,585,353 | 1.5 | 1.6 | |||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV 2, Private Equity | (ac)(v)(w)(y) | Real Estate | 59,815 | 0.1 | 0.1 | |||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV 2, Structured Mezzanine | (ac)(v)(w) | Real Estate | 11.0% PIK (11.0% Max PIK) | 3/20/30 | $ | 3.5 | 3.4 | 3.5 | ||||||||||||||||||||||||||||||||||||||||||
Home Partners JV 2, Structured Mezzanine | (ac)(w)(x) | Real Estate | 11.0% PIK (11.0% Max PIK) | 3/20/30 | $ | 13.6 | 13.6 | 13.6 | ||||||||||||||||||||||||||||||||||||||||||
Home Partners JV, Common Stock | (ac)(v)(w)(y) | Real Estate | 32,659,547 | 47.6 | 80.6 | |||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV, Private Equity | (ac)(v)(w)(y) | Real Estate | 4,127,355 | 5.4 | 9.4 | |||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV, Structured Mezzanine | (ac)(v)(w) | Real Estate | 11.0% PIK (11.0% Max PIK) | 3/25/29 | $ | 90.4 | 85.6 | 90.4 | ||||||||||||||||||||||||||||||||||||||||||
Jet Edge International LLC, Preferred Stock | (ac)(p) | Transportation | 8.0%, 0.0% PIK (8.0% Max PIK) | 20,878,236 | 20.9 | 16.8 | ||||||||||||||||||||||||||||||||||||||||||||
Jet Edge International LLC, Term Loan | (ac)(v) | Transportation | 10.0%, 2.0% PIK (2.0% Max PIK) | 4/2/26 | $ | 76.6 | 75.9 | 76.1 | ||||||||||||||||||||||||||||||||||||||||||
Jet Edge International LLC, Term Loan | (ac)(x) | Transportation | 10.0%, 2.0% PIK (2.0% Max PIK) | 4/2/26 | $ | 75.0 | 75.0 | 74.5 | ||||||||||||||||||||||||||||||||||||||||||
Jet Edge International LLC, Warrant | (ac)(h)(y) | Transportation | 3,963 | — | 4.5 | |||||||||||||||||||||||||||||||||||||||||||||
Kilter Finance, Preferred Stock | (ad)(v)(w) | Insurance | 6.0%, 6.0% PIK (6.0% Max PIK) | 36,108,611 | 34.6 | 36.1 | ||||||||||||||||||||||||||||||||||||||||||||
Kilter Finance, Private Equity | (ad)(v)(w)(y) | Insurance | 536,709 | 0.5 | 0.5 | |||||||||||||||||||||||||||||||||||||||||||||
KKR Central Park Leasing Aggregator L.P., Partnership Interest | (v)(w)(y)(z) | Capital Goods | 14.3% | 5/31/23 | $ | 39.1 | 39.1 | 25.8 | ||||||||||||||||||||||||||||||||||||||||||
KKR Chord IP Aggregator LP, Partnership Interest | (v)(w) | Media & Entertainment | 114,193,861 | 112.6 | 131.5 | |||||||||||||||||||||||||||||||||||||||||||||
KKR Chord IP Aggregator LP, Structured Mezzanine | (v)(w) | Media & Entertainment | 9.0% | 10/14/23 | $ | 167.3 | 164.9 | 167.3 | ||||||||||||||||||||||||||||||||||||||||||
KKR Rocket Loans Aggregator LLC, Partnership Interest | (ad)(v)(w) | Diversified Financials | 1,387,913 | 1.4 | 1.4 | |||||||||||||||||||||||||||||||||||||||||||||
KKR Zeno Aggregator LP (K2 Aviation), Partnership Interest | (v)(w)(y) | Capital Goods | 23,664,954 | 23.0 | 19.1 | |||||||||||||||||||||||||||||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (v)(w) | Technology Hardware & Equipment | 7.8% | 9/22/24 | € | 7.8 | 9.2 | 8.9 | ||||||||||||||||||||||||||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (v)(w) | Technology Hardware & Equipment | 7.8% | 9/22/24 | $ | 12.1 | 12.1 | 12.1 | ||||||||||||||||||||||||||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (v)(w) | Technology Hardware & Equipment | 11.8% | 9/22/24 | € | 5.9 | 6.9 | 6.7 | ||||||||||||||||||||||||||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (v)(w) | Technology Hardware & Equipment | 11.8% | 9/22/24 | £ | 1.6 | 2.2 | 2.1 | ||||||||||||||||||||||||||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (v)(w) | Technology Hardware & Equipment | 7.8% | 9/22/24 | £ | 2.1 | 2.9 | 2.9 | ||||||||||||||||||||||||||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (v)(w) | Technology Hardware & Equipment | 11.8% | 9/22/24 | $ | 9.1 | 9.1 | 9.1 | ||||||||||||||||||||||||||||||||||||||||||
My Community Homes SFR PropCo 2, Private Equity | (ad)(v)(w)(y) | Real Estate | 33,000,000 | 33.0 | 33.0 | |||||||||||||||||||||||||||||||||||||||||||||
NewStar Clarendon 2014-1A Class D | (v)(w) | Diversified Financials | 19.5% | 1/25/27 | $ | 8.3 | 2.5 | 4.2 | ||||||||||||||||||||||||||||||||||||||||||
Opendoor Labs Inc, Structured Mezzanine | (v)(w) | Real Estate | 10.0% | 4/1/26 | $ | 71.1 | 71.1 | 71.1 | ||||||||||||||||||||||||||||||||||||||||||
Opendoor Labs Inc, Structured Mezzanine | (w)(x) | Real Estate | 10.0% | 4/1/26 | $ | 88.9 | 88.9 | 88.9 | ||||||||||||||||||||||||||||||||||||||||||
Orchard Marine Limited, Class B Common Stock | (ac)(v)(w)(y) | Transportation | 1,964 | 3.1 | — | |||||||||||||||||||||||||||||||||||||||||||||
Orchard Marine Limited, Series A Preferred Stock | (ac)(v)(w)(y) | Transportation | 62,976 | 62.0 | 64.6 | |||||||||||||||||||||||||||||||||||||||||||||
Pretium Partners LLC P1, Structured Mezzanine | (v)(w) | Real Estate | 2.8%, 5.3% PIK (5.3% Max PIK) | 10/22/26 | $ | 6.7 | 6.2 | 6.8 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c)/ Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||
Pretium Partners LLC P2, Private Equity | (v)(w)(y) | Real Estate | 16,772,368 | $ | 16.4 | $ | 16.4 | |||||||||||||||||||||||||||||||||||||||||||
Pretium Partners LLC P2, Term Loan | (v)(w) | Real Estate | 11.0% | 12/16/29 | $ | 33.5 | 32.9 | 32.9 | ||||||||||||||||||||||||||||||||||||||||||
Prime ST LLC, Private Equity | (ad)(v)(w)(y) | Real Estate | 5,983,135 | 7.7 | 9.1 | |||||||||||||||||||||||||||||||||||||||||||||
Prime ST LLC, Structured Mezzanine | (ad)(v)(w) | Real Estate | 5.0%, 6.0% PIK (6.0% Max PIK) | 3/12/30 | $ | 52.4 | 50.4 | 52.4 | ||||||||||||||||||||||||||||||||||||||||||
Star Mountain Diversified Credit Income Fund III, LP, Private Equity | (o)(w) | Diversified Financials | 23,500,000 | 23.5 | 24.3 | |||||||||||||||||||||||||||||||||||||||||||||
Toorak Capital Funding LLC, Membership Interest | (ad)(v)(w)(y) | Real Estate | 1,723,140 | 1.9 | 1.7 | |||||||||||||||||||||||||||||||||||||||||||||
Toorak Capital Partners LLC, Private Equity | (ad)(v) | Real Estate | 158,139,270 | 158.1 | 199.3 | |||||||||||||||||||||||||||||||||||||||||||||
Toorak Capital Partners LLC, Structured Mezzanine | (ad)(v) | Real Estate | L+650 PIK (L+650 Max PIK) | 5/11/22 | $ | 22.0 | 22.0 | 22.0 | ||||||||||||||||||||||||||||||||||||||||||
Toorak Capital Partners LLC, Structured Mezzanine | (ad)(x) | Real Estate | L+650 PIK (L+650 Max PIK) | 5/11/22 | $ | 8.0 | 8.0 | 8.0 | ||||||||||||||||||||||||||||||||||||||||||
Total Asset Based Finance | 2,380.9 | 2,493.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Unfunded Asset Based Finance Commitments | (248.9) | (248.9) | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Asset Based Finance | 2,132.0 | 2,245.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC—18.1% | ||||||||||||||||||||||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC | (ad)(v)(w) | Diversified Financials | 1,462 | 1,396.7 | 1,396.2 | |||||||||||||||||||||||||||||||||||||||||||||
Total Credit Opportunities Partners JV, LLC | 1,396.7 | 1,396.2 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Number of Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||
Equity/Other—11.7%(e) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Abaco Energy Technologies LLC, Common Stock | (v)(y) | Energy | 3,055,556 | $ | 0.2 | $ | 0.3 | |||||||||||||||||||||||||||||||||||||||||||
Abaco Energy Technologies LLC, Preferred Stock | (v)(y) | Energy | 12,734,481 | 1.5 | 1.7 | |||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc, Preferred Stock | (ac)(v) | Health Care Equipment & Services | 11.8% PIK (11.8% Max PIK) | 49,073,000 | 48.1 | 52.1 | ||||||||||||||||||||||||||||||||||||||||||||
American Vision Partners, Private Equity | (v)(y) | Health Care Equipment & Services | 2,450,230 | 2.5 | 2.4 | |||||||||||||||||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd, Common Stock | (ad)(g)(v)(w)(y) | Automobiles & Components | 7,046,126 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd, Ordinary Shares | (ad)(v)(w)(y) | Automobiles & Components | 5,735,804,056 | 30.7 | — | |||||||||||||||||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd, Private Equity | (ad)(v)(w)(y) | Automobiles & Components | 4,097 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Angelica Corp, Limited Partnership Interest | (h)(y) | Health Care Equipment & Services | 877,044 | 47.6 | — | |||||||||||||||||||||||||||||||||||||||||||||
Arcos LLC/VA, Preferred Stock | (v) | Software & Services | L+950 PIK (L+950 Max PIK) | 1.0% | 4/30/31 | 15,000,000 | 14.0 | 15.5 | ||||||||||||||||||||||||||||||||||||||||||
Ardonagh Ltd, Ordinary Shares | (v)(w)(y) | Insurance | 16,450 | — | 2.8 | |||||||||||||||||||||||||||||||||||||||||||||
Ardonagh Ltd, Ordinary Shares | (v)(w)(y) | Insurance | 116,814 | 0.2 | 0.5 | |||||||||||||||||||||||||||||||||||||||||||||
Ardonagh Ltd, Preferred Stock | (v)(w)(y) | Insurance | 6,113,719 | 9.1 | 22.0 | |||||||||||||||||||||||||||||||||||||||||||||
Arena Energy LP, Warrants | (v)(y) | Energy | 68,186,525 | 0.4 | 0.6 | |||||||||||||||||||||||||||||||||||||||||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp, Common Stock | (p)(y) | Energy | 10,193 | 9.7 | 2.3 | |||||||||||||||||||||||||||||||||||||||||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp, Trade Claim | (p)(y) | Energy | 86,607,143 | 19.4 | 19.8 | |||||||||||||||||||||||||||||||||||||||||||||
Aspect Software Inc, Common Stock | (l)(s)(v)(y) | Software & Services | 1,309,955 | 2.3 | 2.7 | |||||||||||||||||||||||||||||||||||||||||||||
Aspect Software Inc, Warrant | (l)(s)(v)(y) | Software & Services | 1/15/24 | 181,730 | 0.3 | 0.3 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Number of Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp, Common Stock | (ad)(s)(v)(w)(y) | Capital Goods | 3,483 | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||
AVF Parent LLC, Trade Claim | (v)(y) | Retailing | 44,507 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Belk Inc, Common Stock | (ac)(v)(y) | Retailing | 94,950 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Borden (New Dairy Opco), Common Stock | (ac)(h)(n)(y) | Food, Beverage & Tobacco | 11,167,000 | 9.1 | 7.7 | |||||||||||||||||||||||||||||||||||||||||||||
Bowery Farming Inc, Warrants | (v)(y) | Food, Beverage & Tobacco | 4/30/26 | 161,828 | 0.0 | 5.2 | ||||||||||||||||||||||||||||||||||||||||||||
Catalina Marketing Corp, Common Stock | (v)(y) | Media & Entertainment | 6,522 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
CDS US Intermediate Holdings Inc, Warrant | (v)(w)(y) | Media & Entertainment | 2,023,714 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Cengage Learning, Inc, Common Stock | (v)(y) | Media & Entertainment | 227,802 | 7.5 | 4.2 | |||||||||||||||||||||||||||||||||||||||||||||
Cimarron Energy Inc, Common Stock | (v)(y) | Energy | 4,302,293 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Cimarron Energy Inc, Participation Option | (v)(y) | Energy | 25,000,000 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Constellis Holdings LLC, Private Equity | (ac)(f)(v)(y) | Capital Goods | 849,702 | 10.3 | 0.2 | |||||||||||||||||||||||||||||||||||||||||||||
CTI Foods Holding Co LLC, Common Stock | (v)(y) | Food, Beverage & Tobacco | 5,892 | 0.7 | — | |||||||||||||||||||||||||||||||||||||||||||||
Cubic Corp, Preferred Stock | (v) | Software & Services | 11.0% PIK (11.0% Max PIK) | 42,141,600 | 39.6 | 42.3 | ||||||||||||||||||||||||||||||||||||||||||||
Envigo Laboratories Inc, Series A Warrant | (s)(y) | Health Care Equipment & Services | 4/29/24 | 10,924 | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Envigo Laboratories Inc, Series B Warrant | (s)(y) | Health Care Equipment & Services | 4/29/24 | 17,515 | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Fairway Group Holdings Corp, Common Stock | (ac)(v)(y) | Food & Staples Retailing | 103,091 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Fox Head Inc, Common Stock | (j)(v)(y) | Consumer Durables & Apparel | 10,000,000 | 8.0 | 10.9 | |||||||||||||||||||||||||||||||||||||||||||||
Fronton BV, Common Stock | (ac)(o)(y) | Consumer Services | 14,943 | — | 1.4 | |||||||||||||||||||||||||||||||||||||||||||||
Galaxy Universal LLC, Common Stock | (v)(y) | Consumer Durables & Apparel | 228,806 | 35.5 | 35.5 | |||||||||||||||||||||||||||||||||||||||||||||
Galaxy Universal LLC, Trade Claim | (v)(y) | Consumer Durables & Apparel | 27,256,114 | 16.4 | 16.4 | |||||||||||||||||||||||||||||||||||||||||||||
Genesys Telecommunications Laboratories Inc, Class A Shares | (v)(y) | Technology Hardware & Equipment | 40,529 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Genesys Telecommunications Laboratories Inc, Ordinary Shares | (v)(y) | Technology Hardware & Equipment | 41,339 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Genesys Telecommunications Laboratories Inc, Preferred Stock | (v)(y) | Technology Hardware & Equipment | 1,050,465 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Harvey Industries Inc, Common Stock | (v) | Capital Goods | 5,000,000 | 2.2 | 3.3 | |||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders, Class A Common Stock | (ad)(v)(w)(y) | Consumer Durables & Apparel | 4,503,411 | 0.1 | — | |||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders, Class B Common Stock | (ad)(v)(w)(y) | Consumer Durables & Apparel | 574,791 | 0.0 | — | |||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders, Class C Common Stock | (ad)(v)(w)(y) | Consumer Durables & Apparel | 213,201 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders, Equity Options | (ad)(v)(w)(y) | Consumer Durables & Apparel | 11/30/25 | 236,160,807 | 15.0 | — | ||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc, Preferred Stock, Series A | (ad)(s)(v)(y) | Capital Goods | 85,385 | 7.1 | 7.1 | |||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc, Preferred Stock, Series B | (ad)(s)(v)(y) | Capital Goods | 15,000 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Imagine Communications Corp, Common Stock | (v)(y) | Media & Entertainment | 33,034 | 3.8 | 2.5 | |||||||||||||||||||||||||||||||||||||||||||||
Jones Apparel Holdings, Inc., Common Stock | (v)(y) | Consumer Durables & Apparel | 5,451 | 0.9 | — | |||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co, Common Stock | (ad)(j)(u)(v)(y) | Materials | 2,105 | 0.0 | — | |||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co, Preferred Stock | (ad)(j)(u)(v) | Materials | 12.5% PIK (12.5% Max PIK) | 2/15/28 | 15,279 | 177.9 | 122.6 | |||||||||||||||||||||||||||||||||||||||||||
Maverick Natural Resources LLC, Common Stock | (n)(o)(y) | Energy | 259,211 | 84.5 | 143.6 | |||||||||||||||||||||||||||||||||||||||||||||
MB Precision Holdings LLC, Class A - 2 Units | (n)(o)(y) | Capital Goods | 8,081,288 | 0.5 | — | |||||||||||||||||||||||||||||||||||||||||||||
Med-Metrix, Common Stock | (h)(y) | Software & Services | 29,403 | 1.5 | 1.6 | |||||||||||||||||||||||||||||||||||||||||||||
Med-Metrix, Preferred Stock | (h) | Software & Services | 8.0% PIK (8.0% Max PIK) | 29,403 | 1.5 | 1.5 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Number of Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||
Miami Beach Medical Group LLC, Common Stock | (v)(y) | Health Care Equipment & Services | 5,000,000 | $ | 4.8 | $ | 3.9 | |||||||||||||||||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Common Stock | (ac)(v)(y) | Capital Goods | 53,073 | 0.6 | — | |||||||||||||||||||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series A | (ac)(v)(y) | Capital Goods | 55 | 0.6 | 0.1 | |||||||||||||||||||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series B | (ac)(v)(y) | Capital Goods | 23 | 0.2 | 0.4 | |||||||||||||||||||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series B PIK | (ac)(v)(y) | Capital Goods | 112,780 | — | 11.9 | |||||||||||||||||||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series C PIK | (ac)(v)(y) | Capital Goods | 54,000 | — | 6.2 | |||||||||||||||||||||||||||||||||||||||||||||
Misys Ltd, Preferred Stock | (v)(w) | Software & Services | L+1,025 PIK (L+1,025 Max PIK) | 79,782,377 | 73.5 | 78.9 | ||||||||||||||||||||||||||||||||||||||||||||
NBG Home, Common Stock | (v)(y) | Consumer Durables & Apparel | 1,903 | 2.6 | — | |||||||||||||||||||||||||||||||||||||||||||||
Nine West Holdings Inc, Common Stock | (v)(y) | Consumer Durables & Apparel | 5,451 | 6.5 | — | |||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Common Stock | (ad)(v)(y) | Health Care Equipment & Services | 34,872 | 2.1 | 2.4 | |||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock A | (ad)(v)(y) | Health Care Equipment & Services | 371,992 | 22.8 | 26.1 | |||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock B | (ad)(v) | Health Care Equipment & Services | 9.0% PIK (9.0% Max PIK) | 10/25/29 | 7,672,347 | 8.0 | 9.2 | |||||||||||||||||||||||||||||||||||||||||||
Petroplex Acidizing Inc, Preferred Stock A | (ac)(v)(y) | Energy | 25,138,631 | 4.9 | — | |||||||||||||||||||||||||||||||||||||||||||||
Petroplex Acidizing Inc, Warrant | (ac)(v)(y) | Energy | 12/15/26 | 8 | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Polyconcept North America Inc, Class A - 1 Units | (v)(y) | Household & Personal Products | 30,000 | 3.0 | 4.3 | |||||||||||||||||||||||||||||||||||||||||||||
PRG III LLC, Preferred Stock, Series A PIK | (ad)(v)(y) | Media & Entertainment | 8/21/24 | 434,250 | 18.1 | 17.4 | ||||||||||||||||||||||||||||||||||||||||||||
PRG III LLC, Preferred Stock, Series B PIK | (ad)(v)(y) | Media & Entertainment | 8/21/24 | 140 | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Proserv Acquisition LLC, Class A Common Units | (ac)(v)(w)(y) | Energy | 2,635,005 | 33.4 | 0.1 | |||||||||||||||||||||||||||||||||||||||||||||
Proserv Acquisition LLC, Class A Preferred Units | (ac)(v)(w)(y) | Energy | 837,780 | 5.4 | 9.3 | |||||||||||||||||||||||||||||||||||||||||||||
Quorum Health Corp, Trade Claim | (v)(y) | Health Care Equipment & Services | 8,301,000 | 0.7 | 0.9 | |||||||||||||||||||||||||||||||||||||||||||||
Quorum Health Corp, Trust Initial Funding Units | (v)(y) | Health Care Equipment & Services | 143,400 | 0.2 | 0.2 | |||||||||||||||||||||||||||||||||||||||||||||
Ridgeback Resources Inc, Common Stock | (j)(u)(v)(w)(y) | Energy | 1,969,418 | 9.1 | 9.9 | |||||||||||||||||||||||||||||||||||||||||||||
Sorenson Communications LLC, Common Stock | (ac)(j)(u)(v)(y) | Telecommunication Services | 89,959 | 42.5 | 67.5 | |||||||||||||||||||||||||||||||||||||||||||||
Sound United LLC, Common Stock | (ad)(v) | Consumer Durables & Apparel | 12,857,143 | 17.3 | 77.5 | |||||||||||||||||||||||||||||||||||||||||||||
Stuart Weitzman Inc, Common Stock | (v)(y) | Consumer Durables & Apparel | 5,451 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc, Common Stock | (ac)(s)(u)(v)(y) | Software & Services | 262,516 | 6.9 | — | |||||||||||||||||||||||||||||||||||||||||||||
Swift Worldwide Resources Holdco Ltd, Common Stock | (v)(y) | Energy | 1,250,000 | 1.2 | 1.1 | |||||||||||||||||||||||||||||||||||||||||||||
ThermaSys Corp, Common Stock | (ac)(u)(v)(y) | Capital Goods | 17,383,026 | 10.2 | — | |||||||||||||||||||||||||||||||||||||||||||||
ThermaSys Corp, Preferred Stock | (ac)(v)(y) | Capital Goods | 1,529 | 1.7 | — | |||||||||||||||||||||||||||||||||||||||||||||
Versatile Processing Group Inc, Class A - 2 Units | (u)(y) | Materials | 3,637,500 | 3.6 | — | |||||||||||||||||||||||||||||||||||||||||||||
Warren Resources Inc, Common Stock | (ad)(v)(y) | Energy | 3,483,788 | 12.8 | 20.4 | |||||||||||||||||||||||||||||||||||||||||||||
Zeta Interactive Holdings Corp, Common Stock | (aa)(v)(y) | Software & Services | 3,610,212 | 30.8 | 30.4 | |||||||||||||||||||||||||||||||||||||||||||||
Total Equity/Other | 931.6 | 907.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL INVESTMENTS—208.3% | $ | 16,056.7 | 16,101.5 | |||||||||||||||||||||||||||||||||||||||||||||||
LIABILITIES IN EXCESS OF OTHER ASSETS—(108.3%) | (8,371.5) | |||||||||||||||||||||||||||||||||||||||||||||||||
NET ASSETS—100% | $ | 7,730.0 |
Foreign Currency | Settlement Date | Counterparty | Amount and Transaction | US$ Value at Settlement Date | US$ Value at December 31, 2021 | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||||||||||||||||||||
AUD | 10/17/2022 | JP Morgan Chase Bank | A$ | 3.0 | Sold | $ | 2.1 | $ | 2.2 | $ | (0.1) | ||||||||||||||||||||||||||||||||||||
AUD | 2/14/2023 | JP Morgan Chase Bank | A$ | 2.2 | Sold | 1.6 | 1.6 | — | |||||||||||||||||||||||||||||||||||||||
CAD | 6/7/2022 | JP Morgan Chase Bank | $ | 1.4 | Sold | 1.1 | 1.1 | — | |||||||||||||||||||||||||||||||||||||||
CAD | 6/7/2022 | JP Morgan Chase Bank | $ | 1.9 | Sold | 1.5 | 1.5 | — | |||||||||||||||||||||||||||||||||||||||
CAD | 11/10/2022 | JP Morgan Chase Bank | $ | 1.5 | Sold | 1.2 | 1.1 | 0.1 | |||||||||||||||||||||||||||||||||||||||
CAD | 11/15/2024 | JP Morgan Chase Bank | $ | 4.0 | Sold | 3.2 | 3.1 | 0.1 | |||||||||||||||||||||||||||||||||||||||
EUR | 5/6/2022 | JP Morgan Chase Bank | € | 6.1 | Sold | 7.5 | 7.0 | 0.5 | |||||||||||||||||||||||||||||||||||||||
EUR | 5/6/2022 | JP Morgan Chase Bank | € | 1.6 | Sold | 2.0 | 1.8 | 0.2 | |||||||||||||||||||||||||||||||||||||||
EUR | 5/6/2022 | JP Morgan Chase Bank | € | 0.7 | Sold | 0.9 | 0.8 | 0.1 | |||||||||||||||||||||||||||||||||||||||
EUR | 5/6/2022 | JP Morgan Chase Bank | € | 2.2 | Sold | 2.7 | 2.5 | 0.2 | |||||||||||||||||||||||||||||||||||||||
EUR | 5/6/2022 | JP Morgan Chase Bank | € | 0.9 | Sold | 1.2 | 1.1 | 0.1 | |||||||||||||||||||||||||||||||||||||||
EUR | 9/12/2022 | JP Morgan Chase Bank | € | 10.0 | Sold | 11.7 | 11.5 | 0.2 | |||||||||||||||||||||||||||||||||||||||
EUR | 7/17/2023 | JP Morgan Chase Bank | € | 1.3 | Sold | 1.7 | 1.5 | 0.2 | |||||||||||||||||||||||||||||||||||||||
EUR | 2/23/2024 | JP Morgan Chase Bank | € | 42.3 | Sold | 49.1 | 49.4 | (0.3) | |||||||||||||||||||||||||||||||||||||||
EUR | 8/8/2025 | JP Morgan Chase Bank | € | 4.8 | Sold | 5.7 | 5.7 | — | |||||||||||||||||||||||||||||||||||||||
EUR | 8/8/2025 | JP Morgan Chase Bank | € | 1.9 | Sold | 2.3 | 2.3 | — | |||||||||||||||||||||||||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 1.9 | Sold | 2.9 | 2.6 | 0.3 | |||||||||||||||||||||||||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 1.7 | Sold | 2.6 | 2.3 | 0.3 | |||||||||||||||||||||||||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 3.4 | Sold | 4.8 | 4.6 | 0.2 | |||||||||||||||||||||||||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 5.0 | Sold | 6.5 | 6.6 | (0.1) | |||||||||||||||||||||||||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 1.4 | Sold | 1.9 | 1.9 | — | |||||||||||||||||||||||||||||||||||||||
GBP | 10/13/2023 | JP Morgan Chase Bank | £ | 6.2 | Sold | 8.5 | 8.4 | 0.1 | |||||||||||||||||||||||||||||||||||||||
NOK | 8/8/2025 | JP Morgan Chase Bank | NOK | 49.1 | Sold | 5.2 | 5.5 | (0.3) | |||||||||||||||||||||||||||||||||||||||
NOK | 8/8/2025 | JP Morgan Chase Bank | NOK | 11.4 | Sold | 1.2 | 1.3 | (0.1) | |||||||||||||||||||||||||||||||||||||||
SEK | 3/15/2024 | JP Morgan Chase Bank | SEK | 72.8 | Sold | 8.5 | 8.2 | 0.3 | |||||||||||||||||||||||||||||||||||||||
SEK | 5/10/2024 | JP Morgan Chase Bank | SEK | 430.3 | Sold | 51.4 | 48.4 | 3.0 | |||||||||||||||||||||||||||||||||||||||
SEK | 5/10/2024 | JP Morgan Chase Bank | SEK | 503.0 | Sold | 60.1 | 56.6 | 3.5 | |||||||||||||||||||||||||||||||||||||||
SEK | 5/10/2024 | JP Morgan Chase Bank | SEK | 34.5 | Sold | 4.1 | 3.9 | 0.2 | |||||||||||||||||||||||||||||||||||||||
SEK | 8/8/2025 | JP Morgan Chase Bank | SEK | 119.3 | Sold | 13.3 | 13.5 | (0.2) | |||||||||||||||||||||||||||||||||||||||
SEK | 8/8/2025 | JP Morgan Chase Bank | SEK | 27.8 | Sold | 3.1 | 3.2 | (0.1) | |||||||||||||||||||||||||||||||||||||||
Total | $ | 269.6 | $ | 261.2 | $ | 8.4 |
Portfolio Company | Fair Value at December 31, 2020 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at December 31, 2021 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend Income(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—First Lien | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.3 | $ | — | ||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc | — | 115.5 | (55.9) | 0.3 | — | 59.9 | 2.7 | — | 1.6 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc | — | 42.6 | (2.4) | — | 9.0 | 49.2 | 3.1 | 0.9 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc | — | 21.7 | — | — | 0.2 | 21.9 | 1.6 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Borden (New Dairy Opco) | 7.6 | 10.6 | (10.0) | 0.2 | 0.6 | 9.0 | 0.5 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Borden (New Dairy Opco) | 16.8 | 23.4 | — | — | 1.8 | 42.0 | 2.7 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Borden Dairy Co | — | — | — | 1.3 | (1.3) | — | — | — | — | — |
Portfolio Company | Fair Value at December 31, 2020 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at December 31, 2021 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend Income(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Constellis Holdings LLC | $ | — | $ | 14.0 | $ | — | $ | — | $ | 1.0 | $ | 15.0 | $ | 0.9 | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
Fairway Group Holdings Corp | — | 1.1 | (0.7) | 0.6 | (0.3) | 0.7 | 0.8 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fairway Group Holdings Corp | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc(5) | 0.3 | — | (0.6) | — | 0.3 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc(5) | 0.2 | — | (0.3) | — | 0.1 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc | 35.5 | 1.0 | — | — | 14.5 | 51.0 | — | 1.0 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc(5) | 4.7 | 0.6 | (4.9) | — | (0.4) | — | 0.2 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Petroplex Acidizing Inc | 4.5 | — | (0.2) | — | 5.4 | 9.7 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sorenson Communications LLC(4) | — | 61.8 | (5.1) | 0.2 | 3.2 | 60.1 | 2.8 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc(4) | — | 5.7 | — | — | 0.3 | 6.0 | 0.2 | 0.1 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ThermaSys Corp | 3.9 | 0.4 | — | — | (0.8) | 3.5 | — | 0.5 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—Second Lien | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc | — | 4.2 | — | — | 2.5 | 6.7 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Constellis Holdings LLC | — | 12.5 | — | — | (0.5) | 12.0 | 0.6 | 0.4 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fairway Group Holdings Corp | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sorenson Communications LLC | — | 22.0 | (22.2) | 0.2 | — | — | 0.4 | 0.9 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc | — | 13.6 | 0.1 | — | (5.4) | 8.3 | 0.7 | 0.2 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Senior Secured Debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co(5) | 41.8 | — | (39.4) | — | (2.4) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Home Partners of America Inc | — | 3.5 | (3.5) | — | — | — | 0.1 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Based Finance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV, Structured Mezzanine | 38.5 | 83.4 | (36.3) | — | 4.8 | 90.4 | 0.6 | 7.3 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV, Private Equity | — | 5.4 | — | — | 4.0 | 9.4 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV, Private Equity | — | — | — | (0.6) | 0.6 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV, Common Stock | 21.5 | 45.9 | (22.9) | 7.7 | 28.4 | 80.6 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV 2, Structured Mezzanine | — | 3.4 | — | — | 0.1 | 3.5 | — | 0.2 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV 2, Private Equity | — | 0.1 | — | — | — | 0.1 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV 2, Private Equity | — | 1.5 | — | — | 0.1 | 1.6 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Jet Edge International LLC, Preferred Stock | — | 20.9 | — | — | (4.1) | 16.8 | 0.5 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Jet Edge International LLC, Warrant | — | — | — | — | 4.5 | 4.5 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Jet Edge International LLC, Term Loan | — | 78.0 | (2.1) | — | (0.3) | 75.6 | 2.4 | 0.5 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Orchard Marine Limited, Class B Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Orchard Marine Limited, Series A Preferred Stock | 24.6 | — | — | — | 40.0 | 64.6 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity/Other | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc, Common Stock | — | 48.1 | — | — | 4.0 | 52.1 | — | 2.3 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ASG Technologies, Common Stock | 42.7 | — | (79.4) | 56.0 | (19.3) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ASG Technologies, Warrants | 3.5 | — | (10.2) | 3.7 | 3.0 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc, Common Stock | — | — | — | — | — | — | — | 0 | — | — |
Portfolio Company | Fair Value at December 31, 2020 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at December 31, 2021 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend Income(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Borden (New Dairy Opco), Common Stock | $ | 3.2 | $ | 5.2 | $ | — | $ | — | $ | (0.7) | $ | 7.7 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
Charlotte Russe Inc, Common Stock | — | — | — | (12.5) | 12.5 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Constellis Holdings LLC, Private Equity | — | 10.3 | — | — | (10.1) | 0.2 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fairway Group Holdings Corp, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fronton BV, Common Stock | 1.2 | — | — | — | 0.2 | 1.4 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc, Preferred Stock, Series A(5) | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc, Preferred Stock, Series B(5) | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Home Partners of America Inc, Common Stock | 130.5 | — | (214.3) | 130.7 | (46.9) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Home Partners of America Inc, Warrant | 2.1 | — | (4.4) | 4.1 | (1.8) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co, Common Stock(5) | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co, Preferred Stock(5) | 93.7 | — | (107.3) | — | 13.6 | — | — | 4.2 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series A | — | — | — | — | 0.1 | 0.1 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series B | — | — | — | — | 0.4 | 0.4 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series B PIK | — | — | — | — | 11.9 | 11.9 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc, Preferred Stock, Series C PIK | — | — | — | — | 6.2 | 6.2 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Common Stock(5) | 2.4 | — | (3.0) | — | 0.6 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock A(5) | 25.5 | — | (32.3) | — | 6.8 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock B(5) | 10.6 | — | (9.8) | — | (0.8) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Petroplex Acidizing Inc, Preferred Stock A | — | 0.4 | — | — | (0.4) | — | — | — | — | 0.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Petroplex Acidizing Inc, Warrant | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Proserv Acquisition LLC, Class A Common Units | 9.0 | — | (0.1) | — | (8.8) | 0.1 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Proserv Acquisition LLC, Class A Preferred Units | 9.5 | — | — | — | (0.2) | 9.3 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sorenson Communications LLC, Common Stock(4) | — | 42.5 | — | — | 25.0 | 67.5 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc, Common Stock(4) | — | 6.9 | — | — | (6.9) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ThermaSys Corp, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ThermaSys Corp, Preferred Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 533.8 | $ | 706.2 | $ | (667.2) | $ | 191.9 | $ | 94.3 | $ | 859.0 | $ | 20.8 | $ | 18.5 | $ | 1.9 | $ | 0.4 |
Portfolio Company | Fair Value at December 31, 2020 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at December 31, 2021 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend Income(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—First Lien | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Advanced Lighting Technologies Inc | $ | 12.0 | $ | 4.1 | $ | (15.9) | $ | (4.6) | $ | 4.4 | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd | 59.7 | 2.4 | — | — | (27.3) | 34.8 | 1.1 | 1.4 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp | — | 46.8 | — | — | — | 46.8 | 1.3 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc(4) | — | 49.2 | (7.1) | (8.5) | — | 33.6 | 0.5 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc(4) | — | 14.0 | (19.0) | 7.0 | — | 2.0 | 0.4 | 0.8 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc | — | 9.7 | (5.1) | 0.1 | 0.3 | 5.0 | 0.3 | — | 0.1 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | — | 124.9 | — | — | 8.4 | 133.3 | 5.4 | 3.8 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | — | 0.1 | — | — | — | 0.1 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | — | 60.6 | (0.4) | — | 4.2 | 64.4 | 2.8 | 0.8 | 0.4 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | — | 20.2 | (0.1) | — | 0.1 | 20.2 | 0.4 | — | 0.1 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sound United LLC | 14.9 | — | (15.0) | — | 0.1 | — | 0.4 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Warren Resources Inc(4) | — | 19.3 | (2.0) | 0.1 | 1.3 | 18.7 | 1.3 | 0.1 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—Second Lien | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd | 0.1 | (1.8) | — | (10.4) | 12.1 | — | (1.9) | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sound United LLC | 20.9 | 1.7 | (22.6) | — | — | — | — | 1.0 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Senior Secured Debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Advanced Lighting Technologies Inc | — | — | (0.7) | (22.9) | 23.6 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co(4) | — | 75.5 | — | — | 5.5 | 81.0 | 6.2 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc(4) | — | 43.5 | (21.9) | — | 1.9 | 23.5 | 0.4 | 1.6 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp | — | 4.8 | — | — | 2.3 | 7.1 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders | 32.4 | — | — | — | 14.2 | 46.6 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders | 30.3 | — | — | — | (30.3) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Based Finance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
801 5th Ave, Seattle, Structure Mezzanine | 29.4 | 25.7 | — | — | 2.1 | 57.2 | 3.6 | 1.3 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
801 5th Ave, Seattle, Private Equity | 10.3 | 9.6 | — | — | 3.2 | 23.1 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Avida Holding AB, Common Stock | 38.3 | 9.1 | — | — | 4.9 | 52.3 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Kilter Finance, Preferred Stock | 0.2 | 34.4 | — | — | 1.5 | 36.1 | 1.3 | 1.2 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Kilter Finance, Private Equity | 0.2 | 0.3 | — | — | — | 0.5 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
KKR Rocket Loans Aggregator LLC, Partnership Interest | — | 1.4 | — | — | — | 1.4 | — | — | — | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
My Community Homes SFR PropCo 2, Private Equity | — | 33.0 | — | — | — | 33.0 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Prime St LLC, Private Equity | 3.9 | 4.6 | — | — | 0.6 | 9.1 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Prime St LLC, Structured Mezzanine | 22.8 | 27.6 | — | — | 2.0 | 52.4 | 0.9 | 2.2 | — | — |
Portfolio Company | Fair Value at December 31, 2020 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at December 31, 2021 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend Income(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Toorak Capital Funding LLC, Membership Interest | $ | 6.6 | $ | 1.3 | $ | (4.9) | $ | — | $ | (1.3) | $ | 1.7 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
Toorak Capital LLC, Membership Interest | 235.9 | 2.3 | (50.2) | 10.2 | 1.1 | 199.3 | — | — | — | 18.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Toorak Capital Partners LLC, Structured Mezzanine | — | 73.0 | (51.0) | — | — | 22.0 | 0.2 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC | 712.5 | 586.4 | — | — | 97.3 | 1,396.2 | — | — | — | 126.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity/Other | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Advanced Lighting Technologies Inc, Common Stock | — | — | — | (16.5) | 16.5 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Advanced Lighting Technologies Inc, Warrant | — | — | — | (0.1) | 0.1 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd, Ordinary Shares | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd, Trade Claim | — | — | (1.4) | 0.4 | 1.0 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd, Private Equity | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders, Class A Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders, Class B Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders, Class C Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders, Equity Options | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc, Preferred Stock, Series A(4) | — | 7.1 | — | — | — | 7.1 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc, Preferred Stock, Series B(4) | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co, Common Stock(4) | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co, Preferred Stock(4) | — | 177.9 | — | — | (55.3) | 122.6 | 0.4 | 20.9 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Common Stock(4) | — | 4.5 | (2.2) | (0.2) | 0.3 | 2.4 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock A(4) | — | 48.6 | (23.7) | (2.1) | 3.3 | 26.1 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock B(4) | — | 15.7 | (8.8) | 1.1 | 1.2 | 9.2 | — | 0.8 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC, Preferred Stock, Series A PIK | — | 18.1 | — | — | (0.7) | 17.4 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC, Preferred Stock, Series B PIK | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sound United LLC, Class A Units | — | — | — | (1.1) | 1.1 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sound United LLC, Common Stock | 29.3 | — | — | — | 48.2 | 77.5 | — | — | — | 20.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sound United LLC, Series I Units | — | — | — | (0.5) | 0.5 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sound United LLC, Series II Units | — | — | — | (0.5) | 0.5 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Warren Resources Inc, Common Stock | — | 12.8 | — | — | 7.6 | 20.4 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,259.7 | $ | 1,568.4 | $ | (252.0) | $ | (48.5) | $ | 156.5 | $ | 2,684.1 | $ | 25.0 | $ | 35.9 | $ | 0.6 | $ | 165.7 |
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 2. Summary of Significant Accounting Policies (continued)
financial statements as of and for the year ended December 31, 2021. The Company is considered an investment company under GAAP and follows the accounting and reporting guidance applicable to investment companies under Financial Accounting Standards Board, or the FASB, Accounting Standards Codification Topic 946, Financial Services—Investment Companies.
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 2. Summary of Significant Accounting Policies (continued)
Revenue Recognition: Security transactions are accounted for on the trade date. The Company records interest income on an accrual basis to the extent that it expects to collect such amounts. The Company records dividend income on the ex-dividend date. Distributions received from limited liability company (“LLC”("LLC") and limited partnership (“LP”("LP") investments are evaluated to determine if the distribution should be recorded as dividend income or a return of capital. The Company does not accrue as a receivable interest or dividends on loans and securities if it has reason to doubt its ability to collect such income. The Company’sCompany's policy is to place investments on non-accrual status when there is reasonable doubt that interest income will be collected. The Company considers many factors relevant to an investment when placing it on or removing it from non-accrual status including, but not limited to, the delinquency status of the investment, economic and business conditions, the overall financial condition of the underlying investment, the value of the underlying collateral, bankruptcy status, if any, and any other facts or circumstances relevant to the investment. If there is reasonable doubt that the Company will receive any previously accrued interest, then the accrued interest will be written-off. Payments received on non-accrual investments may be recognized as income or applied to principal depending upon the collectability of the remaining principal and interest. Non-accrual investments may be restored to accrual status when principal and interest become current and are likely to remain current based on the Company’sCompany's judgment.
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Three Months Ended March 31, | ||||||||||||||||
2022 | 2021 | |||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||
Share Repurchase Program | (404,928 | ) | $ | (9 | ) | — | $ | — | ||||||||
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Net Proceeds from Share Transactions | (404,928 | ) | $ | (9 | ) | — | $ | — | ||||||||
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Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||||||||
2022 | 2021 | |||||||||||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||||||||||||||||||||||
Share Repurchase Program | (1,565,083) | $ | (33) | (53,374) | $ | (1) | ||||||||||||||||||||||||||||||||
Issuance of Common Stock(1) | — | — | 161,374,028 | 3,642 | ||||||||||||||||||||||||||||||||||
Net Proceeds from Share Transactions | (1,565,083) | $ | (33) | 161,320,654 | $ | 3,641 |
September 2021
In November 2020,
During the period from April 1, 2022 to Aprilnine months ended September 30, 2022,2021, the Company repurchased 121,14353,374 shares of common stock pursuant to the share repurchase program at an average price per share (inclusive of commissions paid) of $22.19$22.32 (totaling $3)$1).
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 3. Share Transactions (continued)
Acquisition of FSKR
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 4. Related Party Transactions (continued)
On April 9, 2018, the Company entered into an administration agreement with the Advisor, or the administration agreement. Pursuant to the administration agreement, the Advisor oversees the Company’s day-to-day operations, including the provision of general ledger accounting, fund accounting, legal services, investor relations, certain government and regulatory affairs activities, and other administrative services. The Advisor also performs, or oversees the performance of, the Company’s corporate operations and required administrative services, which includes being responsible for the financial records that the Company is required to maintain and preparing reports for the Company’s stockholders and reports filed with the U.S. Securities and Exchange Commission, or the SEC. In addition, the Advisor assists the Company in calculating its net asset value, overseeing the preparation and filing of tax returns and the printing and dissemination of reports to the Company’s stockholders, and generally overseeing the payment of the Company’s expenses and the performance of administrative and professional services rendered to the Company by others.
Three Months Ended March 31, | ||||||||||||
Related Party | Source Agreement | Description | 2022 | 2021 | ||||||||
The Advisor | Investment advisory agreement and prior investment advisory agreement | Base Management Fee(1) | $ | 62 | $ | 25 | ||||||
The Advisor | Investment advisory agreement and prior investment advisory agreement | Subordinated Incentive Fee on Income(2) | $ | 25 | $ | — | ||||||
The Advisor | Administration agreement | Administrative Services Expenses(3) | $ | 4 | $ | 2 |
FS KKR Capital Corp.
Notes
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||
Related Party | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||
Source Agreement | Description | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||||||||||||
The Advisor | Investment advisory agreement and prior investment advisory agreement | Base Management Fee(1) | $ | 61 | $ | 58 | $ | 186 | $ | 113 | ||||||||||||||||||||||||||||
The Advisor | Investment advisory agreement and prior investment advisory agreement | Subordinated Incentive Fee on Income(2) | $ | 25 | $ | 20 | $ | 72 | $ | 28 | ||||||||||||||||||||||||||||
The Advisor | Administration agreement | Administrative Services Expenses(3) | $ | 4 | $ | 5 | $ | 12 | $ | 9 | ||||||||||||||||||||||||||||
(the Advisor. As of September 30, 2022, $61 in millions, except sharebase management fees were payable to the Advisor.
Note 4. Related Party Transactions (continued)
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nine months ended September 30, 2022, the amount shown is net of waivers of $15 and $45, respectively. During the three and nine months ended September 30, 2021, the amount shown is net of waivers of $15 and $15, respectively. During the nine months ended September 30, 2022 and 2021, $66 and $29, respectively, of subordinated incentive fees on income were paid to the Advisor. As of September 30, 2022, subordinated incentive fees on income of $25 were payable to the Advisor.
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 4. Related Party Transactions (continued)
reliance on the FS Order prior to April 9, 2018, and (ii) rely on an exemptive relief order, dated January 5, 2021, that permits the Company, subject to the satisfaction of certain conditions, to co-invest in certain privately negotiated investment transactions, including investments originated and directly negotiated by the Advisor or KKR Credit, with certain affiliates of the Advisor.
Distribution | ||||||||
For the Three Months Ended | Per Share | Amount | ||||||
Fiscal 2021 | ||||||||
March 31, 2021 | $ | 0.60 | $ | 74 | ||||
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Total | $ | 0.60 | $ | 74 | ||||
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Fiscal 2022 | ||||||||
March 31, 2022 | $ | 0.63 | $ | 179 | ||||
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Total | $ | 0.63 | $ | 179 | ||||
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Distribution | ||||||||||||||
For the Three Months Ended | Per Share | Amount | ||||||||||||
Fiscal 2021 | ||||||||||||||
March 31, 2021 | $ | 0.60 | $ | 74 | ||||||||||
June 30, 2021 | 0.60 | 75 | ||||||||||||
September 30, 2021 | 0.65 | 186 | ||||||||||||
Total | $ | 1.85 | $ | 335 | ||||||||||
Fiscal 2022 | ||||||||||||||
March 31, 2022 | $ | 0.63 | $ | 179 | ||||||||||
June 30, 2022 | 0.68 | 193 | ||||||||||||
September 30, 2022 | 0.67 | 190 | ||||||||||||
Total | $ | 1.98 | $ | 562 |
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 5. Distributions (continued)
distribution, then the Company will issue shares of common stock at the greater of (i) net asset value per share of common stock or (ii) 95% of the market price; or (B) if the market price is less than the net asset value per share, then, in the sole discretion of the Company, (i) shares of common stock will be purchased in open market transactions for the accounts of participants to the extent practicable, or (ii) the Company will issue shares of common stock at net asset value per share. Pursuant to the terms of the DRP, the number of shares of common stock to be issued to a participant will be determined by dividing the total dollar amount of the distribution payable to a participant by the price per share at which the Company issues such shares; provided, however, that shares purchased in open market transactions by the plan administrator will be allocated to a participant based on the average purchase price, excluding any brokerage charges or other charges, of all shares of common stock purchased in the open market.
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 5. Distributions (continued)
The following table reflects the sources of the cash distributions on a tax basis that the Company has paid on its common stock during the threenine months ended March 31,September 30, 2022 and 2021:
Three Months Ended March 31, | ||||||||||||||||
2022 | 2021 | |||||||||||||||
Source of Distribution | Distribution Amount | Percentage | Distribution Amount | Percentage | ||||||||||||
Return of capital | $ | — | — | $ | — | — | ||||||||||
Net investment income(1) | 179 | 100 | % | 74 | 100 | % | ||||||||||
Short-term capital gains proceeds from the sale of assets | — | — | — | — | ||||||||||||
Long-term capital gains proceeds from the sale of assets | — | — | — | — | ||||||||||||
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Total | $ | 179 | 100 | % | $ | 74 | 100 | % | ||||||||
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Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||||||||
2022 | 2021 | |||||||||||||||||||||||||||||||||||||
Source of Distribution | Distribution Amount | Percentage | Distribution Amount | Percentage | ||||||||||||||||||||||||||||||||||
Return of capital | $ | — | — | $ | — | — | ||||||||||||||||||||||||||||||||
Net investment income(1) | 562 | 100 | % | 335 | 100 | % | ||||||||||||||||||||||||||||||||
Short-term capital gains proceeds from the sale of assets | — | — | — | — | ||||||||||||||||||||||||||||||||||
Long-term capital gains proceeds from the sale of assets | — | — | — | — | ||||||||||||||||||||||||||||||||||
Total | $ | 562 | 100 | % | $ | 335 | 100 | % |
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 5. Distributions (continued)
As of March 31,September 30, 2022, the Company had a deferred tax liability of $18$14 resulting from unrealized appreciation on investments held by the Company’s wholly-owned taxable subsidiaries and a deferred tax asset of $74$60 resulting from net operating losses, capital losses, and interest expense limitation carryforwards of the Company’s wholly-owned taxable subsidiaries and unrealized depreciation on investments held by the Company’s wholly-owned taxable subsidiaries. As of March 31,September 30, 2022, certain
March 31, 2022 (Unaudited) | December 31, 2021 | |||||||||||||||||||||||
Amortized Cost(1) | Fair Value | Percentage of Portfolio | Amortized Cost(1) | Fair Value | Percentage of Portfolio | |||||||||||||||||||
Senior Secured Loans—First Lien | $ | 9,862 | $ | 9,923 | 59.9 | % | $ | 9,695 | $ | 9,765 | 60.7 | % | ||||||||||||
Senior Secured Loans—Second Lien | 1,464 | 1,416 | 8.6 | % | 1,564 | 1,557 | 9.7 | % | ||||||||||||||||
Other Senior Secured Debt | 149 | 117 | 0.7 | % | 149 | 120 | 0.7 | % | ||||||||||||||||
Subordinated Debt | 194 | 75 | 0.5 | % | 188 | 111 | 0.7 | % | ||||||||||||||||
Asset Based Finance | 2,091 | 2,178 | 13.2 | % | 2,132 | 2,245 | 13.9 | % | ||||||||||||||||
Credit Opportunities Partners JV, LLC | 1,484 | 1,480 | 8.9 | % | 1,397 | 1,396 | 8.7 | % | ||||||||||||||||
Equity/Other | 1,239 | 1,365 | 8.2 | % | 932 | 907 | 5.6 | % | ||||||||||||||||
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Total | $ | 16,483 | $ | 16,554 | 100.0 | % | $ | 16,057 | $ | 16,101 | 100.0 | % | ||||||||||||
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September 30, 2022 | ||||||||||||||||||||||||||||||||||||||
(Unaudited) | December 31, 2021 | |||||||||||||||||||||||||||||||||||||
Amortized Cost(1) | Fair Value | Percentage of Portfolio | Amortized Cost(1) | Fair Value | Percentage of Portfolio | |||||||||||||||||||||||||||||||||
Senior Secured Loans—First Lien | $ | 10,023 | $ | 9,781 | 61.9 | % | $ | 9,695 | $ | 9,765 | 60.7 | % | ||||||||||||||||||||||||||
Senior Secured Loans—Second Lien | 1,357 | 1,245 | 7.9 | % | 1,564 | 1,557 | 9.7 | % | ||||||||||||||||||||||||||||||
Other Senior Secured Debt | 151 | 110 | 0.7 | % | 149 | 120 | 0.7 | % | ||||||||||||||||||||||||||||||
Subordinated Debt | 380 | 255 | 1.6 | % | 188 | 111 | 0.7 | % | ||||||||||||||||||||||||||||||
Asset Based Finance | 1,942 | 1,826 | 11.6 | % | 2,132 | 2,245 | 13.9 | % | ||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC | 1,572 | 1,466 | 9.3 | % | 1,397 | 1,396 | 8.7 | % | ||||||||||||||||||||||||||||||
Equity/Other | 1,253 | 1,109 | 7.0 | % | 932 | 907 | 5.6 | % | ||||||||||||||||||||||||||||||
Total | $ | 16,678 | $ | 15,792 | 100.0 | % | $ | 16,057 | $ | 16,101 | 100.0 | % |
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 6. Investment Portfolio (continued)
The Company’s investment portfolio may contain loans and other unfunded arrangements that are in the form of lines of credit, revolving credit facilities, delayed draw credit facilities or other investments, which require the Company to provide funding when requested by portfolio companies in accordance with the terms of the underlying agreements. As of March 31,September 30, 2022, the Company had unfunded debt investments with aggregate unfunded commitments of $1,584.1,$1,042.4, unfunded equity/other commitments of $497.8$362.8 and unfunded commitments of $262.7$560.2 to Credit Opportunities Partners JV, LLC. As of December 31, 2021, the Company had unfunded debt investments with aggregate unfunded commitments of $1,724.1, unfunded equity commitments of $576.9 and unfunded commitments of $350.2 to Credit Opportunities Partners JV, LLC. The Company maintains sufficient cash on hand and available borrowings to fund such unfunded commitments should the need arise. For additional details regarding the Company’s unfunded debt investments, see the Company’s unaudited consolidated schedule of investments as of March 31,September 30, 2022 and the Company’s audited consolidated schedule of investments as of December 31, 2021.
March 31, 2022 (Unaudited) | December 31, 2021 | |||||||||||||||
Industry Classification | Fair Value | Percentage of Portfolio | Fair Value | Percentage of Portfolio | ||||||||||||
Automobiles & Components | $ | 94 | 0.5 | % | $ | 89 | 0.5 | % | ||||||||
Banks | — | — | 15 | 0.1 | % | |||||||||||
Capital Goods | 2,240 | 13.5 | % | 2,281 | 14.2 | % | ||||||||||
Commercial & Professional Services | 1,684 | 10.2 | % | 1,615 | 10.0 | % | ||||||||||
Consumer Durables & Apparel | 523 | 3.2 | % | 551 | 3.4 | % | ||||||||||
Consumer Services | 275 | 1.7 | % | 393 | 2.4 | % | ||||||||||
Credit Opportunities Partners JV, LLC | 1,480 | 8.9 | % | 1,396 | 8.7 | % | ||||||||||
Diversified Financials | 589 | 3.6 | % | 672 | 4.2 | % | ||||||||||
Energy | 314 | 1.9 | % | 241 | 1.5 | % | ||||||||||
Food & Staples Retailing | 272 | 1.6 | % | 296 | 1.8 | % | ||||||||||
Food, Beverage & Tobacco | 194 | 1.2 | % | 256 | 1.6 | % | ||||||||||
Health Care Equipment & Services | 2,106 | 12.7 | % | 1,613 | 10.0 | % | ||||||||||
Household & Personal Products | 314 | 1.9 | % | 227 | 1.4 | % | ||||||||||
Insurance | 807 | 4.9 | % | 898 | 5.6 | % | ||||||||||
Materials | 212 | 1.3 | % | 211 | 1.3 | % | ||||||||||
Media & Entertainment | 501 | 3.0 | % | 720 | 4.5 | % | ||||||||||
Pharmaceuticals, Biotechnology & Life Sciences | 230 | 1.4 | % | 235 | 1.5 | % | ||||||||||
Real Estate | 989 | 6.0 | % | 876 | 5.4 | % | ||||||||||
Retailing | 367 | 2.2 | % | 288 | 1.8 | % | ||||||||||
Software & Services | 2,795 | 16.9 | % | 2,698 | 16.8 | % | ||||||||||
Technology Hardware & Equipment | 41 | 0.2 | % | 42 | 0.3 | % | ||||||||||
Telecommunication Services | 127 | 0.8 | % | 128 | 0.8 | % | ||||||||||
Transportation | 400 | 2.4 | % | 360 | 2.2 | % | ||||||||||
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Total | $ | 16,554 | 100.0 | % | $ | 16,101 | 100.0 | % | ||||||||
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September 30, 2022 | ||||||||||||||||||||||||||
(Unaudited) | December 31, 2021 | |||||||||||||||||||||||||
Industry Classification | Fair Value | Percentage of Portfolio | Fair Value | Percentage of Portfolio | ||||||||||||||||||||||
Automobiles & Components | $ | 36 | 0.2 | % | $ | 89 | 0.5 | % | ||||||||||||||||||
Banks | — | — | 15 | 0.1 | % | |||||||||||||||||||||
Capital Goods | 2,224 | 14.1 | % | 2,281 | 14.2 | % | ||||||||||||||||||||
Commercial & Professional Services | 1,673 | 10.6 | % | 1,615 | 10.0 | % | ||||||||||||||||||||
Consumer Durables & Apparel | 290 | 1.8 | % | 551 | 3.4 | % | ||||||||||||||||||||
Consumer Services | 200 | 1.3 | % | 393 | 2.4 | % | ||||||||||||||||||||
Credit Opportunities Partners JV, LLC | 1,466 | 9.3 | % | 1,396 | 8.7 | % | ||||||||||||||||||||
Diversified Financials | 634 | 4.0 | % | 672 | 4.2 | % | ||||||||||||||||||||
Energy | 288 | 1.8 | % | 241 | 1.5 | % | ||||||||||||||||||||
Food & Staples Retailing | 268 | 1.7 | % | 296 | 1.8 | % | ||||||||||||||||||||
Food, Beverage & Tobacco | 189 | 1.2 | % | 256 | 1.6 | % | ||||||||||||||||||||
Health Care Equipment & Services | 1,976 | 12.5 | % | 1,613 | 10.0 | % | ||||||||||||||||||||
Household & Personal Products | 246 | 1.6 | % | 227 | 1.4 | % | ||||||||||||||||||||
Insurance | 950 | 6.0 | % | 898 | 5.6 | % | ||||||||||||||||||||
Materials | 190 | 1.2 | % | 211 | 1.3 | % | ||||||||||||||||||||
Media & Entertainment | 627 | 4.0 | % | 720 | 4.5 | % | ||||||||||||||||||||
Pharmaceuticals, Biotechnology & Life Sciences | 202 | 1.3 | % | 235 | 1.5 | % | ||||||||||||||||||||
Real Estate | 818 | 5.2 | % | 876 | 5.4 | % | ||||||||||||||||||||
Retailing | 287 | 1.8 | % | 288 | 1.8 | % | ||||||||||||||||||||
Software & Services | 2,847 | 18.0 | % | 2,698 | 16.8 | % | ||||||||||||||||||||
Technology Hardware & Equipment | 5 | 0.0 | % | 42 | 0.3 | % | ||||||||||||||||||||
Telecommunication Services | 79 | 0.5 | % | 128 | 0.8 | % | ||||||||||||||||||||
Transportation | 297 | 1.9 | % | 360 | 2.2 | % | ||||||||||||||||||||
Total | $ | 15,792 | 100.0 | % | $ | 16,101 | 100.0 | % |
Big Cedar Creek LLC, or Big Cedar Creek Funding, a wholly-owned subsidiary of COPJV, has a revolving credit facility with BNP Paribas, or as amended, the Big Cedar Creek Funding Credit Facility, which provides for up to $300 of borrowings as of March 31, 2022. The Big Cedar Creek Funding Credit Facility provides loans in U.S. dollars, Australian dollars, Canadian dollars, New Zealand dollars, Euros and pounds sterling. U.S. dollar loans bear interest at the rate of LIBOR (subject to a 0% floor) plus a spread of 1.85% to 2.55% during the reinvestment period and 2.00% to 2.65% thereafter. Foreign currency loans bear interest at the applicable floating rate (subject to a 0% floor) plus a spread of 1.85% to 2.55% during the reinvestment period and 2.00% to 2.65% thereafter. Big Cedar Creek Funding also pays a commitment fee of up to 1.00% on undrawn commitments. The Big Cedar Creek Funding Credit Facility matures on March 11, 2025. As of March 31, 2022, total outstanding borrowings under the Big Cedar Creek Funding Credit Facility were $267.3. Borrowings under the Big Cedar Creek Funding Credit Facility are secured by substantially all of the assets of Big Cedar Creek.
Boxwood Drive Funding LLC, or Boxwood Drive Funding, a wholly-owned subsidiary of COPJV, has a revolving credit facility with BNP Paribas, or as amended, the Boxwood Drive Funding Credit Facility, which provides for up to $300 of borrowings as of March 31, 2022. The Boxwood Drive Funding Credit Facility provides for loans in U.S. dollars, Australian dollars, Canadian dollars, New Zealand dollars, Euros and pounds sterling. U.S. dollar loans bear interest at the rate of LIBOR (subject to a 0% floor) plus a spread of 2.05% to 3.15% during the reinvestment period and 2.50% to 3.25% thereafter. Foreign currency loans bear interest at the applicable floating rate (subject to a 0% floor) plus the spread applicable to the specified currency. Boxwood Drive Funding also pays a commitment fee of up to 1.00% on undrawn commitments. The Boxwood Drive Funding Credit Facility matures on April 15, 2025. As of March 31, 2022, total outstanding borrowings under the Boxwood Drive Funding Credit Facility were $277.4. Borrowings under the Boxwood Drive Funding Credit Facility are secured by substantially all of the assets of Boxwood Drive Funding.
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 6. Investment Portfolio (continued)
Chestnut Street Funding LLC, or Chestnut Street Funding, a wholly-owned subsidiary of COPJV, has a revolving credit facility with Citibank, N.A., or as amended, the Chestnut Street Funding Credit Facility, which provides for up to $400 of borrowings as of March 31, 2022. The Chestnut Street Funding Credit Facility provides loans in U.S. dollars, Australian dollars, Canadian dollars, Euros and pounds sterling. U.S. dollar loans bear interest at the rate of LIBOR (subject to a 0% floor) plus 2.25%. Foreign currency loans bear interest at the applicable floating rate (subject to a 0% floor) plus 2.25%. Chestnut Street Funding also pays a commitment fee of up to 0.50% on undrawn commitments. The Chestnut Street Funding Credit Facility matures on September 18, 2024. As of March 31, 2022, total outstanding borrowings under the Chestnut Street Funding Credit Facility were $243.8. Borrowings under the Chestnut Street Funding Credit Facility are secured by substantially all of the assets of Chestnut Street Funding.
Green Creek LLC, or Green Creek Funding, a wholly-owned subsidiary of COPJV, has a revolving credit facility with Goldman Sachs Bank, or as amended, the Green Creek Funding Credit Facility, which provides for up to $400 of borrowings as of March 31, 2022. The Green Creek Credit Facility provides for loans in U.S. dollars, Canadian dollars, Euros and pounds sterling. U.S. dollar loans bear interest at the rate of LIBOR (subject to a 0% floor) plus 2.25%. Foreign currency loans bear interest at the rate of the applicable floating rate (subject to a 0% floor) plus the spread applicable to the specified currency. Green Creek Funding also pays a commitment fee of up to 2.25% on undrawn commitments. The Green Creek Funding Credit Facility matures on January 30, 2027. As of March 31, 2022, total outstanding borrowings under the Green Creek Funding Credit Facility were $360.2. Borrowings under the Green Creek Funding Credit Facility are secured by substantially all of the assets of Green Creek Funding.
On September 2, 2021, Jersey City Funding LLC, or Jersey City Funding, a wholly-owned subsidiary of COPJV, prepaid all outstanding borrowings under, and terminated, its revolving credit facility with Goldman Sachs Bank.
On March 31, 2021, COPJV sold in a private placement $300 of aggregate principal amount of unsecured notes, or the April 2021 COPJV Notes, to qualified institutional buyers in reliance on Section 4(a)(2) of the Securities Act. Interest of the April 2021 COPJV Notes is payable quarterly on the 1st of each of January, April, July and October, at a fixed annual rate of 4.25%, commencing July 1, 2021. This interest rate is subject to increase up to 4.75% in the event that the April 2021 COPJV Notes cease to be rated investment grade, and the April 2021 COPJV Notes will be subject to an additional 2.0% of default interest during the continuance of an event of default. The April 2021 COPJV Notes mature on April 1, 2026, unless redeemed, purchased or prepaid prior to such date by COPJV in accordance with their terms.
On August 17, 2021, COPJV sold in a private placement $225 of aggregate principal amount of Series B senior unsecured notes, or the August 2021 COPJV Notes and together with the April 2021 COPJV Notes, the 2021 COPJV Notes, to qualified institutional buyers in reliance on Section 4(a)(2) of the Securities Act. Interest of the 2021 COPJV Notes is payable semi-annually on the 17th of each of February and August, at a fixed annual rate of 3.62%, commencing February 17, 2022. This interest rate is subject to increase up to 4.12% in the event that the 2021 COPJV Notes cease to be rated investment grade, and the August 2021 COPJV Notes will be subject to an additional 2.0% of default interest during the continuance of an event of default. The August 2021COPJV Notes mature on August 17, 2026, unless redeemed, purchased or prepaid prior to such date by COPJV in accordance with their terms.
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 6. Investment Portfolio (continued)
The 2021 COPJV Notes are general unsecured obligations that rank pari passu with all outstanding and future unsecured and unsubordinated indebtedness that COPJV may issue. COPJV used the net proceeds from the 2021 COPJV Notes for general corporate purposes, including to make investments, repay existing debt and make permitted distributions.
COPJV was in compliance with all covenants required by its financing arrangements as of March 31,September 30, 2022 and December 31, 2021.
status, respectively.
As of | ||||||||
March 31, 2022 (Unaudited) | December 31, 2021 | |||||||
Total debt investments(1) | $ | 3,332.1 | $ | 2,954.2 | ||||
Weighted average annual yield on accruing debt investments(2) | 8.1 | % | 8.1 | % | ||||
Number of portfolio companies in COPJV | 110 | 95 | ||||||
Largest investment in a single portfolio company(1) | $ | 131.6 | $ | 131.5 | ||||
Unfunded commitments(1) | $ | 0.7 | $ | 1.9 |
|
|
As of September 30, 2022 (Unaudited) December 31, 2021 $ 3,455.9 $ 2,954.2 10.0 % 8.1 % Number of portfolio companies in COPJV 125 95 $ 131.9 $ 131.5 $ 2.8 $ 1.9
Company(a) | Footnotes | Industry | Interest Rate(b) | Base Rate Floor | Maturity Date | No. Shares/Principal Amount(c) | Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—First Lien—151.0% | ||||||||||||||||||||||||||||||||||||||||||||||||||
48Forty Solutions LLC | (e)(o) | Commercial & Professional Services | SF+550 | 1.0% | 11/30/2026 | $ | 19.4 | $ | 19.2 | $ | 19.0 | |||||||||||||||||||||||||||||||||||||||
Accuride Corp | (i)(j) | Capital Goods | L+525 | 1.0% | 11/17/2023 | 20.8 | 20.3 | 18.1 | ||||||||||||||||||||||||||||||||||||||||||
Advania Sverige AB | (e)(o) | Software & Services | SR+610, 0.0% PIK (3.3% Max PIK) | 0.0% | 4/28/2028 | SEK | 588.0 | 66.6 | 51.3 | |||||||||||||||||||||||||||||||||||||||||
Advania Sverige AB | (e)(o) | Software & Services | R+610, 0.0% PIK (3.3% Max PIK) | 0.0% | 4/28/2028 | ISK | 1,644.9 | 12.8 | 11.1 | |||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc | (e)(h)(i)(o) | Health Care Equipment & Services | L+550, 0.0% PIK (1.3% Max PIK) | 0.8% | 8/2/2028 | $ | 76.3 | 76.0 | 75.6 | |||||||||||||||||||||||||||||||||||||||||
Alacrity Solutions Group LLC | (e)(j)(o) | Insurance | L+525 | 0.8% | 12/22/2028 | 40.6 | 39.9 | 39.6 | ||||||||||||||||||||||||||||||||||||||||||
Alera Group Intermediate Holdings Inc | (e)(k)(o) | Insurance | SF+600 | 0.8% | 10/2/2028 | 32.3 | 31.9 | 31.1 | ||||||||||||||||||||||||||||||||||||||||||
Alstom SA | (k) | Transportation | L+550, 2.5% PIK (2.5% Max PIK) | 1.0% | 8/29/2023 | 6.2 | 5.7 | 3.5 | ||||||||||||||||||||||||||||||||||||||||||
American Airlines Group Inc | Transportation | L+175 | 0.0% | 6/27/2025 | 2.5 | 2.3 | 2.3 | |||||||||||||||||||||||||||||||||||||||||||
American Vision Partners | (e)(o) | Health Care Equipment & Services | L+575 | 0.8% | 9/30/2027 | 19.6 | 19.4 | 19.1 | ||||||||||||||||||||||||||||||||||||||||||
Ammeraal Beltech Holding BV | (h)(k) | Capital Goods | E+375 | 0.0% | 7/30/2025 | € | 4.8 | 4.8 | 4.1 | |||||||||||||||||||||||||||||||||||||||||
Apex Group Limited | (h) | Diversified Financials | L+375 | 0.5% | 7/27/2028 | $ | 4.2 | 4.2 | 4.0 | |||||||||||||||||||||||||||||||||||||||||
Apex Group Limited | (h) | Diversified Financials | E+400 | 0.0% | 7/27/2028 | € | 1.6 | 1.9 | 1.5 | |||||||||||||||||||||||||||||||||||||||||
Arcfield Acquisition Corp | (e)(o) | Capital Goods | L+575 | 0.8% | 3/10/2028 | $ | 8.1 | 8.0 | 7.9 |
Credit Opportunities Partners JV, LLC Portfolio
As
Company(a) | Footnotes | Industry | Interest Rate(b) | Base Rate Floor | Maturity Date | No. Shares/Principal Amount(c) | Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||
Arcos LLC/VA | (e)(h)(j) | Software & Services | L+575 | 1.0% | 3/31/2028 | $ | 22.3 | $ | 22.1 | $ | 21.2 | |||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (e)(i) | Insurance | SA+700 | 0.8% | 7/14/2026 | £ | 3.8 | 4.7 | 4.2 | |||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (e)(i) | Insurance | E+700 | 1.0% | 7/14/2026 | € | 0.5 | 0.5 | 0.5 | |||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (e)(j)(k)(o) | Insurance | L+575 | 0.8% | 7/14/2026 | $ | 54.8 | 54.2 | 52.8 | |||||||||||||||||||||||||||||||||||||||||
Arrotex Australia Group Pty Ltd | (e)(j)(k)(o) | Pharmaceuticals, Biotechnology & Life Sciences | B+525 | 1.0% | 7/10/2024 | A$ | 109.4 | 73.9 | 70.1 | |||||||||||||||||||||||||||||||||||||||||
Arrotex Australia Group Pty Ltd | (e)(j)(k)(o) | Pharmaceuticals, Biotechnology & Life Sciences | B+525 | 1.0% | 7/10/2024 | 8.0 | 5.7 | 5.1 | ||||||||||||||||||||||||||||||||||||||||||
athenahealth Inc | (k) | Health Care Equipment & Services | SF+350 | 0.5% | 2/15/2029 | $ | 6.8 | 6.2 | 6.1 | |||||||||||||||||||||||||||||||||||||||||
athenahealth Inc | (k) | Health Care Equipment & Services | SF+350 | 0.5% | 2/15/2029 | 1.2 | 1.1 | 1.0 | ||||||||||||||||||||||||||||||||||||||||||
Barbri Inc | (e)(h)(i) | Consumer Services | L+575 | 0.8% | 4/28/2028 | 47.4 | 47.4 | 47.4 | ||||||||||||||||||||||||||||||||||||||||||
BearCom Acquisition Corp | (e)(j) | Technology Hardware & Equipment | L+650 | 1.0% | 7/5/2024 | 2.2 | 2.2 | 2.1 | ||||||||||||||||||||||||||||||||||||||||||
BearCom Acquisition Corp | (e)(j) | Technology Hardware & Equipment | C+550 | 1.0% | 7/5/2024 | C$ | 14.3 | 10.6 | 10.1 | |||||||||||||||||||||||||||||||||||||||||
BearCom Acquisition Corp | (e)(f) | Technology Hardware & Equipment | C+550 | 1.0% | 1/5/2024 | 1.3 | 1.0 | 0.9 | ||||||||||||||||||||||||||||||||||||||||||
Belk Inc | Retailing | L+750 | 1.0% | 7/31/2025 | $ | 0.6 | 0.6 | 0.6 | ||||||||||||||||||||||||||||||||||||||||||
Belk Inc | (g)(p) | Retailing | 5.0%, 8.0% PIK (8.0 Max PIK) | 7/31/2025 | 3.0 | 1.7 | 0.6 | |||||||||||||||||||||||||||||||||||||||||||
BGB Group LLC | (e)(h)(i)(o) | Media & Entertainment | L+575 | 1.0% | 8/16/2027 | 54.5 | 54.1 | 53.7 | ||||||||||||||||||||||||||||||||||||||||||
Big Bus Tours Ltd | (e)(j) | Consumer Services | L+850 PIK (L+850 Max PIK) | 1.0% | 3/15/2024 | 17.6 | 17.6 | 14.4 | ||||||||||||||||||||||||||||||||||||||||||
Big Bus Tours Ltd | (e)(j) | Consumer Services | E+850 PIK (E+850 Max PIK) | 1.0% | 3/15/2024 | € | 12.4 | 13.8 | 9.9 | |||||||||||||||||||||||||||||||||||||||||
Bugaboo International BV | (e)(h)(i) | Consumer Durables & Apparel | E+700, 0.0% PIK (7.8% Max PIK) | 0.0% | 3/20/2025 | 30.1 | 35.5 | 29.4 | ||||||||||||||||||||||||||||||||||||||||||
Bugaboo International BV | (e)(h) | Consumer Durables & Apparel | E+700, 0.0% PIK (7.8% Max PIK) | 0.0% | 3/20/2025 | 4.9 | 5.4 | 4.8 | ||||||||||||||||||||||||||||||||||||||||||
Cision Ltd | Software & Services | L+375 | 0.0% | 1/29/2027 | $ | 3.8 | 3.4 | 3.1 | ||||||||||||||||||||||||||||||||||||||||||
ClubCorp Club Operations Inc | (j)(k) | Consumer Services | L+275 | 0.0% | 9/18/2024 | 32.0 | 29.9 | 29.6 | ||||||||||||||||||||||||||||||||||||||||||
Creation Technologies Inc | Technology Hardware & Equipment | L+550 | 0.5% | 10/5/2028 | 2.3 | 2.1 | 1.9 | |||||||||||||||||||||||||||||||||||||||||||
CSafe Global | (e)(h)(i)(k) | Capital Goods | L+625 | 0.8% | 12/23/2027 | 59.5 | 59.4 | 59.5 | ||||||||||||||||||||||||||||||||||||||||||
CSafe Global | (e)(h) | Capital Goods | L+625 | 0.8% | 8/13/2028 | 17.3 | 17.3 | 17.3 | ||||||||||||||||||||||||||||||||||||||||||
Cubic Corp | (i) | Software & Services | L+425 | 0.8% | 5/25/2028 | 9.1 | 9.1 | 8.0 | ||||||||||||||||||||||||||||||||||||||||||
EIF Van Hook Holdings LLC | (i)(k) | Energy | SF+525 | 0.0% | 9/5/2024 | 7.7 | 7.4 | 7.4 | ||||||||||||||||||||||||||||||||||||||||||
Emerald Expositions Holding Inc | Media & Entertainment | L+275 | 0.0% | 5/22/2024 | 1.7 | 1.6 | 1.7 | |||||||||||||||||||||||||||||||||||||||||||
Encora Digital Inc | (e)(o) | Software & Services | L+550, 0.0% PIK (2.4% Max PIK) | 0.8% | 12/13/2028 | 16.3 | 15.9 | 15.5 | ||||||||||||||||||||||||||||||||||||||||||
Envirotainer Ltd | (e)(k) | Transportation | E+600, 0.0% PIK (3.0% Max PIK) | 0.0% | 7/29/2029 | € | 14.9 | 13.9 | 14.3 | |||||||||||||||||||||||||||||||||||||||||
Envirotainer Ltd | (e)(k) | Transportation | SF+600, 0.0% PIK (3.0% Max PIK) | 0.8% | 7/29/2029 | $ | 7.6 | 7.4 | 7.4 | |||||||||||||||||||||||||||||||||||||||||
Excelitas Technologies Corp | (e)(j)(k) | Technology Hardware & Equipment | SF+575 | 0.8% | 8/12/2029 | 24.5 | 23.5 | 24.3 | ||||||||||||||||||||||||||||||||||||||||||
Follett Software Co | (e)(h)(i) | Software & Services | L+575 | 0.8% | 8/31/2028 | 37.6 | 37.3 | 36.8 | ||||||||||||||||||||||||||||||||||||||||||
Frontline Technologies Group LLC | (e)(i)(o) | Software & Services | L+575 | 1.0% | 9/18/2023 | 35.8 | 35.8 | 35.8 | ||||||||||||||||||||||||||||||||||||||||||
Galaxy Universal LLC | (e)(h) | Consumer Durables & Apparel | SF+500 | 1.0% | 11/12/2026 | 8.8 | 8.8 | 8.8 | ||||||||||||||||||||||||||||||||||||||||||
Galway Partners Holdings LLC | (e)(k)(o) | Insurance | L+525, 0.0% PIK (1.3% Max PIK) | 0.8% | 9/29/2028 | 37.0 | 36.2 | 36.4 | ||||||||||||||||||||||||||||||||||||||||||
General Datatech LP | (e)(j) | Software & Services | L+625 | 1.0% | 6/18/2027 | 18.4 | 17.8 | 17.4 | ||||||||||||||||||||||||||||||||||||||||||
Greystone Equity Member Corp | (e) | Diversified Financials | L+725 | 3.8% | 4/1/2026 | 30.2 | 30.0 | 29.3 | ||||||||||||||||||||||||||||||||||||||||||
HealthChannels LLC | (j) | Health Care Equipment & Services | L+450 | 0.0% | 4/3/2025 | 15.5 | 15.4 | 13.1 | ||||||||||||||||||||||||||||||||||||||||||
Hermes UK Ltd | (e)(k) | Transportation | SA+650 | 0.0% | 11/30/2027 | £ | 14.7 | 19.5 | 15.3 | |||||||||||||||||||||||||||||||||||||||||
Higginbotham Insurance Agency Inc | (e)(h)(i) | Insurance | L+525 | 0.8% | 11/25/2026 | $ | 37.7 | 38.1 | 37.8 | |||||||||||||||||||||||||||||||||||||||||
Industria Chimica Emiliana Srl | (e)(j)(k)(o) | Pharmaceuticals, Biotechnology & Life Sciences | E+725 | 0.0% | 9/27/2026 | € | 113.9 | 125.3 | 109.9 |
FS KKR Capital Corp.
Company(a) | Footnotes | Industry | Interest Rate(b) | Base Rate Floor | Maturity Date | No. Shares/ Principal Amount(c) | Cost | Fair Value(d) | ||||||||||||||||||
Arrotex Australia Group Pty Ltd | (e)(j)(k)(o) | Pharmaceuticals, Biotechnology & Life Sciences | B+525 | 1.0 | % | 7/10/2024 | A$ | 109.4 | $ | 73.8 | $ | 81.9 | ||||||||||||||
Arrotex Australia Group Pty Ltd | (e)(j)(k)(o) | Pharmaceuticals, Biotechnology & Life Sciences | B+525 | 1.0 | % | 7/10/2024 | 8.0 | 5.7 | 6.0 | |||||||||||||||||
Barbri Inc | (e)(h)(i) | Consumer Services | L+575 | 0.8 | % | 4/28/2028 | $ | 47.6 | 47.6 | 47.4 | ||||||||||||||||
BearCom Acquisition Corp | (e)(j) | Technology Hardware & Equipment | C+550 | 1.0 | % | 1/5/2024 | C$ | 1.3 | 1.0 | 1.0 | ||||||||||||||||
BearCom Acquisition Corp | (e)(j) | Technology Hardware & Equipment | L+600 | 1.0 | % | 7/5/2024 | $ | 2.2 | 2.2 | 2.1 | ||||||||||||||||
BearCom Acquisition Corp | (e)(j) | Technology Hardware & Equipment | C+550 | 1.0 | % | 7/5/2024 | C$ | 14.4 | 10.5 | 10.9 | ||||||||||||||||
BearCom Acquisition Corp | (e)(f) | Technology Hardware & Equipment | C+550 | 1.0 | % | 1/5/2024 | — | — | — | |||||||||||||||||
Belk Inc | Retailing | L+750 | 1.0 | % | 7/31/2025 | $ | 0.6 | 0.6 | 0.6 | |||||||||||||||||
Belk Inc | Retailing | 5.0%, 8.0% PIK (8.0% Max PIK) | 7/31/2025 | 2.9 | 1.6 | 1.9 | ||||||||||||||||||||
BGB Group LLC | (e)(h)(i)(o) | Media & Entertainment | L+575 | 1.0 | % | 8/16/2027 | 54.8 | 54.3 | 54.0 | |||||||||||||||||
Big Bus Tours Ltd | (e)(j) | Consumer Services | L+850 PIK (L+850 Max PIK) | 1.0 | % | 3/15/2024 | 16.8 | 16.8 | 11.1 | |||||||||||||||||
Big Bus Tours Ltd | (e)(j) | Consumer Services | E+850 PIK (E+850 Max PIK) | 1.0 | % | 3/15/2024 | € | 11.8 | 13.2 | 8.6 | ||||||||||||||||
Bugaboo International BV | (e)(h)(i) | Consumer Durables & Apparel | E+700, 0.0% PIK (7.8% Max PIK) | 0.0 | % | 3/20/2025 | 35.0 | 40.9 | 38.8 | |||||||||||||||||
Caprock Midstream LLC | (i) | Energy | L+475 | 0.0 | % | 11/3/2025 | $ | 13.2 | 13.0 | 13.2 | ||||||||||||||||
CSafe Global | (e)(h)(i)(k) | Capital Goods | L+625 | 0.8 | % | 12/23/2027 | 59.8 | 59.7 | 60.0 | |||||||||||||||||
CSafe Global | (e)(h) | Capital Goods | L+625 | 0.8 | % | 8/13/2028 | 17.4 | 17.4 | 17.4 | |||||||||||||||||
Cubic Corp | (i) | Software & Services | L+425 | 0.8 | % | 5/25/2028 | 9.1 | 9.2 | 9.1 | |||||||||||||||||
Eagleclaw Midstream Ventures LLC | (k) | Energy | L+425 | 1.0 | % | 6/24/2024 | 11.1 | 10.6 | 11.1 | |||||||||||||||||
EIF Van Hook Holdings LLC | (i)(k) | Energy | L+525 | 0.0 | % | 9/5/2024 | 8.0 | 7.7 | 7.8 | |||||||||||||||||
Encora Digital Inc | (e)(o) | Software & Services | L+550, 0.0% PIK (2.4% Max PIK) | 0.5 | % | 12/13/2028 | 16.3 | 15.9 | 15.9 | |||||||||||||||||
Entertainment Benefits Group LLC | (e)(k) | Media & Entertainment | L+575 | 1.0 | % | 9/30/2025 | 2.6 | 2.6 | 2.6 |
Footnotes Industry Base Rate Floor Maturity Date Cost Insight Global LLC (e)(h)(i)(o) Commercial & Professional Services L+600 0.8% 9/22/2028 $ 63.9 $ 63.1 $ 62.9 KBP Investments LLC (e)(h)(i) Food & Staples Retailing L+550 0.8% 5/26/2027 23.6 23.5 22.3 Kellermeyer Bergensons Services LLC (e)(i)(j) Commercial & Professional Services L+600 1.0% 11/7/2026 29.2 28.1 27.9 Kettle Cuisine LLC (j) Food, Beverage & Tobacco L+375 1.0% 8/25/2025 16.3 16.3 15.2 Lakefield Veterinary Group (e)(o) Health Care Equipment & Services L+550 0.8% 11/23/2028 27.1 26.8 26.4 Lakeview Farms Inc (e)(j) Food, Beverage & Tobacco L+625 1.0% 6/10/2027 15.6 15.5 14.9 Lexitas Inc (e)(h) Commercial & Professional Services SF+625 1.0% 5/18/2029 18.5 18.5 18.2 Lionbridge Technologies Inc (e)(i)(j) Media & Entertainment SF+700 1.0% 12/29/2025 27.2 26.7 27.4 Lipari Foods LLC (e)(k) Food & Staples Retailing SF+575 1.0% 1/6/2025 42.8 42.8 42.8 Lipari Foods LLC (e)(k) Food & Staples Retailing SF+575 1.0% 1/6/2025 21.7 21.7 21.7 Lrqa Ltd (e)(i)(o) Consumer Services E+600, 0.0% PIK (6.3% Max PIK) 0.0% 12/2/2028 € 44.3 48.7 42.4 MB2 Dental Solutions LLC (e)(i) Health Care Equipment & Services SF+600 1.0% 1/29/2027 $ 12.0 11.8 11.8 Med-Metrix (e)(o) Software & Services L+600 1.0% 9/15/2027 11.9 11.9 11.9 Misys Ltd Software & Services L+350 1.0% 6/13/2024 2.3 2.1 2.0 Monitronics International Inc (h)(i)(k) Commercial & Professional Services L+600 1.5% 7/3/2024 35.5 33.5 34.2 Motion Recruitment Partners LLC (e)(h)(j) Commercial & Professional Services L+650 1.0% 12/22/2025 24.8 24.6 24.8 New Era Technology Inc (e)(h)(j)(k) Software & Services L+625 1.0% 10/31/2026 34.4 33.9 33.8 Novotech Pty Ltd (e)(k)(o) Health Care Equipment & Services SF+525 0.5% 1/13/2028 24.4 23.9 23.9 Novotech Pty Ltd (e)(k)(o) Health Care Equipment & Services B+525 0.5% 1/13/2028 A$ 33.7 24.8 21.0 One Call Care Management Inc (h) Health Care Equipment & Services L+550 0.8% 4/22/2027 $ 4.9 5.0 3.7 Ontic Engineering & Manufacturing Inc (h) Capital Goods L+400 0.0% 10/30/2026 2.1 1.9 2.1 Pantherx Specialty LLC (e)(j) Pharmaceuticals, Biotechnology & Life Sciences SF+550 0.5% 7/16/2029 15.9 14.8 14.9 Parts Town LLC (e)(h)(k)(o) Retailing L+550 0.8% 11/1/2028 49.6 48.5 48.0 Peraton Corp (j) Capital Goods L+375 0.8% 2/1/2028 8.8 8.4 8.4 Plaskolite, LLC Materials L+400 0.8% 12/15/2025 1.1 1.1 1.0 Precision Global Corp (e)(j) Materials L+475 1.0% 8/3/2024 8.9 8.7 8.8 Premium Credit Ltd (e)(h)(i)(k) Diversified Financials SA+650 0.0% 1/16/2026 £ 49.4 64.1 55.0 Pretium Packaging LLC (j) Household & Personal Products L+400 0.5% 10/2/2028 $ 1.6 1.6 1.5 Project Marron (e)(h)(j)(k) Consumer Services B+625 0.5% 7/2/2025 A$ 81.8 56.3 50.4 Project Marron (e)(i)(j) Consumer Services C+625 0.5% 7/2/2025 C$ 52.5 40.0 36.4 Pure Fishing Inc (i) Consumer Durables & Apparel L+450 0.0% 12/22/2025 $ 9.8 9.7 8.2 Qdoba Restaurant Corp (h)(k) Consumer Services L+700 1.0% 3/21/2025 3.5 3.3 3.4 Reliant Rehab Hospital Cincinnati LLC (e)(j)(o) Health Care Equipment & Services L+625 0.0% 2/28/2026 33.8 32.8 28.4 Revere Superior Holdings Inc (e)(k) Software & Services L+575 1.0% 9/30/2026 19.6 19.6 19.6 Rise Baking Company (e)(k) Food, Beverage & Tobacco L+650 1.0% 8/13/2027 1.4 1.3 1.3 Rise Baking Company (e)(j)(k) Food, Beverage & Tobacco L+650 1.0% 8/13/2027 30.5 29.9 28.4 Rise Baking Company (e)(f) Food, Beverage & Tobacco L+650 1.0% 8/13/2027 0.6 0.6 0.5 RSC Insurance Brokerage Inc (e)(k) Insurance SF+550 0.8% 10/30/2026 18.9 18.8 18.7 Sabre Inc Software & Services L+200 0.0% 2/22/2024 2.1 2.1 2.1 Safe-Guard Products International LLC (e)(i)(j)(k) Diversified Financials L+500 0.5% 1/27/2027 71.7 72.1 71.7 SAMBA Safety Inc (e)(h)(j) Software & Services L+525 1.0% 9/1/2027 27.2 26.9 26.9 SavATree LLC (e)(j)(k) Consumer Services L+550 0.8% 10/12/2028 39.7 39.4 39.2 Sequa Corp (h)(j)(k) Capital Goods L+675, 0.0% PIK (1.0% Max PIK) 1.0% 11/28/2023 23.4 22.9 23.4 SI Group Inc Materials SF+475 0.0% 10/15/2025 1.5 1.5 1.3 SIRVA Worldwide Inc (i) Commercial & Professional Services L+550 0.0% 8/4/2025 6.9 6.6 6.3 SitusAMC Holdings Corp (e)(j)(o) Real Estate L+575 0.8% 12/22/2027 39.6 38.7 38.3
Company(a) | Footnotes | Industry | Interest Rate(b) | Base Rate Floor | Maturity Date | No. Shares/ Principal Amount(c) | Cost | Fair Value(d) | ||||||||||||||||||
Follett Software Co | (e)(h)(i) | Software & Services | L+575 | 0.8 | % | 8/31/2028 | 37.8 | $ | 37.4 | $ | 37.5 | |||||||||||||||
Frontline Technologies Group LLC | (e)(i)(o) | Software & Services | L+525 | 1.0 | % | 9/18/2023 | 36.2 | 36.2 | 36.2 | |||||||||||||||||
Galaxy Universal LLC | (e)(h) | Consumer Durables & Apparel | L+500 | 1.0 | % | 11/12/2026 | 10.2 | 10.2 | 10.2 | |||||||||||||||||
Galway Partners Holdings LLC | (e)(k)(o) | Insurance | L+525, 0.0% PIK (1.3% Max PIK) | 0.8 | % | 9/29/2028 | 37.2 | 36.4 | 36.3 | |||||||||||||||||
General Datatech LP | (e)(j) | Software & Services | L+625 | 1.0 | % | 6/18/2027 | 10.1 | 10.0 | 9.8 | |||||||||||||||||
Greystone Equity Member Corp | (e) | Diversified Financials | L+725 | 3.8 | % | 4/1/2026 | 30.2 | 30.0 | 29.1 | |||||||||||||||||
HealthChannels LLC | (j) | Health Care Equipment & Services | L+450 | 0.0 | % | 4/3/2025 | $ | 15.5 | 15.4 | 14.2 | ||||||||||||||||
Hermes UK Ltd | (e)(k) | Transportation | SA+650 | 0.0 | % | 11/30/2027 | £ | 14.7 | 19.5 | 18.6 | ||||||||||||||||
Higginbotham Insurance Agency Inc | (e)(h)(i) | Insurance | L+550 | 0.8 | % | 11/25/2026 | $ | 37.9 | 38.3 | 38.6 | ||||||||||||||||
Industria Chimica Emiliana Srl | (e)(j)(k)(o) | Pharmaceuticals, Biotechnology & Life Sciences | E+725 | 0.0 | % | 9/27/2026 | € | 113.9 | 125.2 | 125.2 | ||||||||||||||||
Insight Global LLC | (e)(h)(i)(o) | Commercial & Professional Services | L+600 | 0.8 | % | 9/22/2028 | $ | 64.2 | 63.3 | 63.0 | ||||||||||||||||
KBP Investments LLC | (e)(h)(i) | Food & Staples Retailing | L+500 | 0.8 | % | 5/26/2027 | 23.7 | 23.5 | 23.3 | |||||||||||||||||
Kellermeyer Bergensons Services LLC | (e)(i)(j) | Commercial & Professional Services | L+600 | 1.0 | % | 11/7/2026 | 29.4 | 28.1 | 29.2 | |||||||||||||||||
Kettle Cuisine LLC | (j) | Food, Beverage & Tobacco | L+375 | 1.0 | % | 8/25/2025 | 16.4 | 16.4 | 15.6 | |||||||||||||||||
Lakefield Veterinary Group | (e)(o) | Health Care Equipment & Services | L+550 | 0.8 | % | 11/23/2028 | 27.3 | 26.9 | 26.7 | |||||||||||||||||
Lakeview Farms Inc | (e)(j) | Food, Beverage & Tobacco | L+625 | 1.0 | % | 6/10/2027 | 15.7 | 15.6 | 15.5 | |||||||||||||||||
Lexitas Inc | (e)(h) | Commercial & Professional Services | L+600 | 1.0 | % | 11/14/2025 | 18.6 | 18.6 | 18.8 | |||||||||||||||||
Lionbridge Technologies Inc | (e)(i)(j) | Consumer Services | L+700 | 1.0 | % | 12/29/2025 | 27.9 | 27.3 | 28.3 | |||||||||||||||||
Lipari Foods LLC | (e)(k) | Food & Staples Retailing | L+575 | 1.0 | % | 1/6/2025 | 65.3 | 65.3 | 65.3 | |||||||||||||||||
Lloyd’s Register Quality Assurance Ltd | (e)(i)(o) | Consumer Services | E+600, 0.0% PIK (6.3% Max PIK) | 0.0 | % | 12/2/2028 | € | 44.3 | 48.7 | 47.5 |
Footnotes Industry Base Rate Floor Maturity Date Cost Sorenson Communications LLC (j) Telecommunication Services L+550 0.8% 3/17/2026 $ 20.6 $ 19.9 $ 19.8 Staples Canada (e)(h)(i)(j)(k) Retailing C+700 1.0% 9/12/2024 C$ 77.4 59.5 57.3 Summit Interconnect Inc (e)(o) Capital Goods SF+600 1.0% 9/22/2028 $ 19.6 19.3 18.7 Time Manufacturing Co (e)(h)(i) Capital Goods E+650 0.8% 12/1/2027 € 29.3 32.5 27.2 Total Safety US Inc (h)(i) Capital Goods L+600 1.0% 8/18/2025 $ 11.3 10.1 10.9 Transaction Services Group Ltd (e)(j)(k)(n)(o) Software & Services B+650 0.0% 10/15/2026 A$ 124.1 85.2 79.1 Unifrax I LLC / Unifrax Holding Co Capital Goods L+375 0.0% 12/12/2025 $ 2.8 2.7 2.6 Varsity Brands Inc Consumer Durables & Apparel L+350 1.0% 12/16/2024 4.0 3.8 3.7 West Corp (i) Software & Services L+400 1.0% 10/10/2024 12.1 12.0 10.5 West Corp (i) Software & Services L+350 1.0% 10/10/2024 2.5 2.5 2.1 Woolpert Inc (e)(h)(i)(j) Capital Goods L+600 1.0% 4/5/2028 53.1 52.7 51.2 Worldwise Inc (e)(h)(i)(j)(k)(o) Household & Personal Products SF+625 1.0% 3/29/2028 64.8 61.8 61.5 Yak Access LLC (n) Capital Goods L+500 0.0% 7/11/2025 0.8 0.6 0.5 Total Senior Secured Loans—First Lien 2,663.8 2,532.2 Unfunded Loan Commitments (2.8) (2.8) Net Senior Secured Loans—First Lien 2,661.0 2,529.4 Senior Secured Loans—Second Lien—23.4% Access CIG LLC (h)(i) Commercial & Professional Services L+775 0.0% 2/27/2026 2.5 2.3 2.4 Ammeraal Beltech Holding BV (e)(h)(k)(o) Capital Goods L+775 0.0% 9/12/2026 42.8 42.0 42.0 Apex Group Limited (e)(h)(i)(o) Diversified Financials L+675 0.5% 7/27/2029 40.0 39.7 38.8 Cubic Corp (e)(k) Software & Services L+763 0.8% 5/25/2029 10.0 9.7 9.2 EaglePicher Technologies LLC (h) Capital Goods L+725 0.0% 3/8/2026 0.4 0.4 0.3 Element Materials Technology Group US Holdings Inc (e)(h)(i) Commercial & Professional Services SA+725 0.5% 6/24/2030 £ 16.0 17.1 17.2 Misys Ltd (h)(i)(k)(o) Software & Services L+725 1.0% 6/13/2025 $ 46.6 44.6 38.4 NEP Broadcasting LLC (i) Media & Entertainment L+700 0.0% 10/19/2026 6.8 6.7 6.3 OEConnection LLC (e)(h)(i)(j) Software & Services L+700 0.5% 9/25/2027 50.0 50.0 48.5 Paradigm Acquisition Corp (h)(k) Health Care Equipment & Services L+750 0.0% 10/26/2026 2.5 2.5 2.5 Peraton Corp (e)(h)(i) Capital Goods L+775 0.8% 2/1/2029 21.5 21.3 21.3 Pretium Packaging LLC (e)(h)(i)(j) Household & Personal Products L+675 0.5% 10/1/2029 39.9 39.7 36.2 Pure Fishing Inc (e)(h) Consumer Durables & Apparel L+838 1.0% 12/21/2026 26.5 24.1 22.9 SIRVA Worldwide Inc (i)(j) Commercial & Professional Services L+950 0.0% 8/3/2026 10.3 8.7 9.0 Valeo Foods Group Ltd (e)(h) Food, Beverage & Tobacco SA+800 0.0% 9/28/2029 £ 9.3 11.8 9.7 Wittur Holding GmbH (e)(j)(k)(n) Capital Goods E+850, 0.5% PIK (0.5% Max PIK) 0.0% 9/23/2027 € 120.8 131.9 88.5 Total Senior Secured Loans—Second Lien 452.5 393.2 Other Senior Secured Debt—1.3% One Call Care Management Inc (e) Health Care Equipment & Services 8.5% PIK (8.5% Max PIK) 11/1/2028 $ 24.5 24.0 21.2 Total Other Senior Secured Debt 24.0 21.2 Subordinated Debt—0.2% athenahealth Inc Health Care Equipment & Services 6.5% 2/15/2030 5.5 4.8 4.4 Total Subordinated Debt 4.8 4.4 Asset Based Finance—30.0% Abacus JV, Private Equity (e) Insurance 31,400,804 32.2 33.4
Company(a) | Footnotes | Industry | Interest Rate(b) | Base Rate Floor | Maturity Date | No. Shares/ Principal Amount(c) | Cost | Fair Value(d) | ||||||||||||||||||
Med-Metrix | (e)(o) | Software & Services | L+600 | 1.0 | % | 9/15/2027 | $ | 12.0 | $ | 11.9 | $ | 12.0 | ||||||||||||||
Monitronics International Inc | (h)(i)(k) | Commercial & Professional Services | L+600 | 1.5 | % | 7/3/2024 | 35.5 | 33.1 | 35.6 | |||||||||||||||||
Motion Recruitment Partners LLC | (e)(h)(j) | Commercial & Professional Services | L+650 | 1.0 | % | 12/22/2025 | 25.0 | 24.7 | 25.0 | |||||||||||||||||
New Era Technology Inc | (e)(j) | Software & Services | L+625 | 1.0 | % | 10/31/2026 | 10.0 | 10.0 | 10.0 | |||||||||||||||||
Novotech Pty Ltd | (e)(k)(o) | Health Care Equipment & Services | SF+575 | 0.5 | % | 1/13/2028 | 24.4 | 23.9 | 23.9 | |||||||||||||||||
Novotech Pty Ltd | (e)(k)(o) | Health Care Equipment & Services | B+575 | 0.5 | % | 1/13/2028 | A$ | 33.7 | 24.8 | 24.7 | ||||||||||||||||
One Call Care Management Inc | (h) | Health Care Equipment & Services | L+550 | 0.8 | % | 4/22/2027 | $ | 5.0 | 5.0 | 4.7 | ||||||||||||||||
Ontic Engineering & Manufacturing Inc | (h) | Capital Goods | L+400 | 0.0 | % | 10/30/2026 | 2.1 | 1.9 | 2.1 | |||||||||||||||||
Parata Systems | (e)(h)(i) | Health Care Equipment & Services | L+575 | 1.0 | % | 6/30/2027 | 57.7 | 57.6 | 57.7 | |||||||||||||||||
Parts Town LLC | (e)(o) | Retailing | L+550 | 0.8 | % | 11/1/2028 | 19.8 | 19.4 | 19.6 | |||||||||||||||||
Precision Global Corp | (e)(j) | Materials | L+475 | 1.0 | % | 8/3/2024 | 9.0 | 8.7 | 8.6 | |||||||||||||||||
Premium Credit Ltd | (e)(h)(i)(k) | Diversified Financials | SA+650 | 0.0 | % | 1/16/2026 | £ | 49.4 | 64.0 | 64.9 | ||||||||||||||||
Pretium Packaging LLC | (j) | Household & Personal Products | L+400 | 0.5 | % | 10/2/2028 | $ | 1.6 | 1.6 | 1.6 | ||||||||||||||||
Project Marron | (e)(h)(j) | Consumer Services | B+625 | 0.5 | % | 7/2/2025 | A$ | 66.8 | 46.2 | 47.2 | ||||||||||||||||
Project Marron | (e)(i)(j) | Consumer Services | C+625 | 0.5 | % | 7/2/2025 | C$ | 52.5 | 39.9 | 39.6 | ||||||||||||||||
Pure Fishing Inc | (i) | Consumer Durables & Apparel | L+450 | 0.0 | % | 12/22/2025 | $ | 9.9 | 9.8 | 9.4 | ||||||||||||||||
Qdoba Restaurant Corp | (h)(k) | Consumer Services | L+700 | 1.0 | % | 3/21/2025 | 3.5 | 3.3 | 3.4 | |||||||||||||||||
Reliant Rehab Hospital Cincinnati LLC | (e)(j)(o) | Health Care Equipment & Services | L+625 | 0.0 | % | 2/28/2026 | 34.1 | 33.1 | 33.0 | |||||||||||||||||
Revere Superior Holdings Inc | (e)(k) | Software & Services | L+575 | 1.0 | % | 9/30/2026 | 19.7 | 19.7 | 19.9 | |||||||||||||||||
Rise Baking Company | (e)(k) | Food, Beverage & Tobacco | L+625 | 1.0 | % | 8/13/2027 | 1.2 | 1.2 | 1.2 |
Footnotes Industry Base Rate Floor Maturity Date Cost Altavair AirFinance, Private Equity (e) Capital Goods 36,500,000 $ 43.0 $ 41.5 Connecticut Avenue Securities Trust 2022-R08, Structured Mezzanine Real Estate SF+560 0.0% 7/25/2042 $ 2.3 2.3 2.2 GA Capital Specialty Lending Fund, Limited Partnership Interest (e)(n) Diversified Financials $ 1.0 — 4.8 Global Lending Services LLC, Private Equity (e)(n) Diversified Financials 2,577,072 2.6 2.7 Global Lending Services LLC, Private Equity (e) Diversified Financials 19,329,296 25.4 20.3 KKR Chord IP Aggregator LP, Partnership Interest (e) Media & Entertainment 19,625,000 22.9 21.6 KKR Zeno Aggregator LP (K2 Aviation), Partnership Interest (e)(n)(p) Capital Goods 19,642,734 24.4 16.3 Lenovo Group Ltd, Structured Mezzanine (e) Technology Hardware & Equipment SF+1,075 1.0% 9/30/2024 $ 4.7 4.7 4.7 Lenovo Group Ltd, Structured Mezzanine (e) Technology Hardware & Equipment E+1,075 1.0% 9/30/2024 € 3.6 3.6 3.5 Lenovo Group Ltd, Structured Mezzanine (e) Technology Hardware & Equipment E+675 1.0% 9/30/2024 € 5.0 5.0 4.9 Lenovo Group Ltd, Structured Mezzanine (e) Technology Hardware & Equipment SA+675 1.0% 9/30/2024 £ 1.1 1.3 1.3 Lenovo Group Ltd, Structured Mezzanine (e) Technology Hardware & Equipment SF+675 1.0% 9/30/2024 $ 6.5 6.5 6.5 Lenovo Group Ltd, Structured Mezzanine (e) Technology Hardware & Equipment SA+1,075 1.0% 9/30/2024 £ 0.8 0.9 0.9 Luxembourg Life Fund - Absolute Return Fund I, 1L Term Loan (e)(h)(n) Insurance L+750 1.5% 2/27/2025 $ 21.4 21.4 21.3 Luxembourg Life Fund - Absolute Return Fund III, Term Loan (e)(h)(k)(n) Insurance L+925 0.0% 5/27/2026 $ 56.6 56.2 57.6 Luxembourg Life Fund - Long Term Growth Fund, Term Loan (e)(h)(i)(k)(n) Insurance L+925 0.0% 4/1/2023 $ 90.1 89.9 91.0 My Community Homes PropCo 2, Private Equity (e)(p) Real Estate 35,000,000 35.0 35.0 NewStar Clarendon 2014-1A Class D (e)(k)(n) Diversified Financials 18.2% 1/25/2027 $ 30.0 9.3 12.6 Pretium Partners LLC P1, Structured Mezzanine (e)(h)(i) Real Estate 2.8%, 5.3% PIK (5.3% Max PIK) 10/22/2026 $ 29.4 28.5 29.2 Pretium Partners LLC P2, Private Equity (e) Real Estate 16,772,368 16.2 14.4 Roemanu LLC (FKA Toorak Capital Partners LLC), Private Equity (e) Real Estate 40,000,000 50.2 47.1 Sealane Trade Finance (e)(m)(p) Banks 1,254,327 1.3 0.5 SG Residential Mortgage Trust 2022-2, Structured Mezzanine Real Estate 5.4% 9/25/2067 $ 4.6 3.8 3.7 Star Mountain Strategic Credit Income Fund IV LP, Private Equity (e) Diversified Financials 25,000,000 25.0 25.3 Total Asset Based Finance 511.6 502.3 Equity/Other—10.4% Ascent Resources Utica Holdings LLC / ARU Finance Corp, Common Stock (e)(l)(p) Energy 13,556 3.6 3.7 Ascent Resources Utica Holdings LLC / ARU Finance Corp, Trade Claim (e)(l)(p) Energy 115,178,571 30.5 31.2 athenahealth Inc, Preferred Stock (e) Health Care Equipment & Services 10.8% PIK (10.8% Max PIK) 50,000 47.5 42.8
Company(a) | Footnotes | Industry | Interest Rate(b) | Base Rate Floor | Maturity Date | No. Shares/ Principal Amount(c) | Cost | Fair Value(d) | ||||||||||||||||||||||
Rise Baking Company | (e)(j)(k) | | Food, Beverage & Tobacco | | L+625 | 1.0 | % | 8/13/2027 | 30.6 | $ | 30.0 | $ | 29.0 | |||||||||||||||||
Rise Baking Company | (e)(f) | | Food, Beverage & Tobacco | | L+625 | 1.0 | % | 8/13/2027 | 0.7 | 0.7 | 0.7 | |||||||||||||||||||
RSC Insurance Brokerage Inc | (e)(k) | Insurance | L+550 | 0.8 | % | 10/30/2026 | 19.0 | 18.9 | 19.1 | |||||||||||||||||||||
Safe-Guard Products International LLC | (e)(i)(j)(k) | | Diversified Financials | | L+500 | 0.5 | % | 1/27/2027 | 75.5 | 76.0 | 75.6 | |||||||||||||||||||
SAMBA Safety Inc | (e)(h)(j) | | Software & Services | | L+575 | 1.0 | % | 9/1/2027 | 27.3 | 27.0 | 27.1 | |||||||||||||||||||
SavATree LLC | (e)(j)(k) | | Consumer Services | | L+550 | 0.8 | % | 10/12/2028 | 39.9 | 39.6 | 39.6 | |||||||||||||||||||
Sequa Corp | (h)(j)(k) | Capital Goods | | L+675, 0.0% PIK (1.0% Max PIK) | | 1.0 | % | 11/28/2023 | $ | 45.4 | 44.0 | 45.6 | ||||||||||||||||||
SIRVA Worldwide Inc | (i) | | Commercial & Professional Services | | L+550 | 0.0 | % | 8/4/2025 | 7.0 | 6.7 | 6.5 | |||||||||||||||||||
SitusAMC Holdings Corp | (e)(o) | Real Estate | L+575 | 0.8 | % | 12/22/2027 | 18.8 | 18.5 | 18.5 | |||||||||||||||||||||
Staples Canada | (e)(h)(i)(j)(k) | Retailing | C+700 | 1.0 | % | 9/12/2024 | C$ | 83.8 | 64.5 | 69.1 | ||||||||||||||||||||
Summit Interconnect Inc | (e)(o) | Capital Goods | L+600 | 1.0 | % | 9/22/2028 | $ | 19.7 | 19.4 | 19.3 | ||||||||||||||||||||
Time Manufacturing Co | (e)(h)(i) | Capital Goods | E+650 | 0.8 | % | 12/1/2027 | € | 29.5 | 32.6 | 31.8 | ||||||||||||||||||||
Total Safety US Inc | (h)(i) | Capital Goods | L+600 | 1.0 | % | 8/18/2025 | $ | 11.7 | 10.3 | 11.4 | ||||||||||||||||||||
Transaction Services Group Ltd | (e)(j)(k)(n)(o) | | Software & Services | | B+650 | 0.0 | % | 10/15/2026 | A$ | 162.0 | 111.0 | 117.9 | ||||||||||||||||||
West Corp | (i) | | Software & Services | | L+400 | 1.0 | % | 10/10/2024 | $ | 12.1 | 11.9 | 11.1 | ||||||||||||||||||
West Corp | (i) | | Software & Services | | L+350 | 1.0 | % | 10/10/2024 | 2.5 | 2.5 | 2.3 | |||||||||||||||||||
Woolpert Inc | (e)(h)(i)(j) | Capital Goods | L+600 | 1.0 | % | 4/5/2028 | 53.4 | 52.9 | 53.9 | |||||||||||||||||||||
Yak Access LLC | (n) | Capital Goods | L+500 | 0.0 | % | 7/11/2025 | 0.8 | 0.6 | 0.7 | |||||||||||||||||||||
|
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Total Senior Secured Loans—First Lien | 2,476.5 | 2,480.7 | ||||||||||||||||||||||||||||
Unfunded Loan Commitments | (0.7 | ) | (0.7 | ) | ||||||||||||||||||||||||||
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| |||||||||||||||||||||||||||
Net Senior Secured Loans—First Lien | 2,475.8 | 2,480.0 | ||||||||||||||||||||||||||||
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Senior Secured Loans—Second Lien—29.4% | ||||||||||||||||||||||||||||||
Access CIG LLC | (h)(i) | | Commercial & Professional Services | | L+775 | 0.0 | % | 2/27/2026 | 2.5 | 2.2 | 2.5 | |||||||||||||||||||
Ammeraal Beltech Holding BV | (e)(k)(o) | Capital Goods | L+775 | 0.0 | % | 9/12/2026 | 81.5 | 79.9 | 79.6 | |||||||||||||||||||||
Apex Group Limited | (e)(h)(i)(o) | | Diversified Financials | | L+675 | 0.5 | % | 7/27/2029 | 40.0 | 39.6 | 39.7 | |||||||||||||||||||
EaglePicher Technologies LLC | (h) | Capital Goods | L+725 | 0.0 | % | 3/8/2026 | 0.4 | 0.4 | 0.4 |
Footnotes Industry Base Rate Floor Maturity Date Cost Belk Inc, Common Stock (e)(p) Retailing 381 $ — $ — Misys Ltd, Preferred Stock (e) Software & Services L+1,025 PIK (L+1,025 Max PIK) 0.0% 24,436,083 24.0 21.7 One Call Care Management Inc, Common Stock (e)(p) Health Care Equipment & Services 34,873 2.2 2.1 One Call Care Management Inc, Preferred Stock A (e)(p) Health Care Equipment & Services 371,993 23.7 22.5 One Call Care Management Inc, Preferred Stock B (e) Health Care Equipment & Services 9.0% PIK (9.0% Max PIK) 10/25/2029 7,672,346 8.7 7.7 Pure Gym Ltd, Private Equity (e)(p) Consumer Services 30,218,000 39.4 35.2 Zeta Interactive Holdings Corp, Common Stock (k)(p) Software & Services 1,080,789 9.2 7.1 Total Equity/Other 188.8 174.0 TOTAL INVESTMENTS—216.3% $ 3,842.7 $ 3,624.5 Derivative Instruments—3.1% Foreign currency forward contracts $ 52.2
Company(a) | Footnotes | Industry | Interest Rate(b) | Base Rate Floor | Maturity Date | No. Shares/ Principal Amount(c) | Cost | Fair Value(d) | ||||||||||||||||||||||
Excelitas Technologies Corp | (h)(i)(j) | | Technology Hardware & Equipment | | L+750 | 1.0 | % | 12/1/2025 | 22.6 | $ | 19.9 | $ | 22.5 | |||||||||||||||||
Misys Ltd | (h)(i)(k)(o) | | Software & Services | | L+725 | 1.0 | % | 6/13/2025 | 46.6 | 44.3 | 46.0 | |||||||||||||||||||
NEP Broadcasting LLC | (i) | | Media & Entertainment | | L+700 | 0.0 | % | 10/19/2026 | 6.8 | 6.7 | 6.6 | |||||||||||||||||||
OEConnection LLC | (e)(h)(i)(j) | | Software & Services | | L+700 | 0.5 | % | 9/25/2027 | 50.0 | 50.0 | 48.8 | |||||||||||||||||||
Paradigm Acquisition Corp | (h)(k) | | Health Care Equipment & Services | | L+750 | 0.0 | % | 10/26/2026 | 2.5 | 2.5 | 2.5 | |||||||||||||||||||
Pretium Packaging LLC | (e)(h)(i)(j) | | Household & Personal Products | | L+675 | 0.5 | % | 10/1/2029 | 39.9 | 39.7 | 39.4 | |||||||||||||||||||
Pure Fishing Inc | (e)(k) | | Consumer Durables & Apparel | | L+838 | 1.0 | % | 12/21/2026 | 26.5 | 23.9 | 25.1 | |||||||||||||||||||
Sequa Corp | (i)(k) | Capital Goods | | L+1,075, 0.0% PIK (6.8% Max PIK) | | 1.0 | % | 4/28/2024 | 39.1 | 34.3 | 38.9 | |||||||||||||||||||
SIRVA Worldwide Inc | (j) | | Commercial & Professional Services | | L+950 | 0.0 | % | 8/3/2026 | 3.8 | 3.1 | 3.2 | |||||||||||||||||||
Valeo Foods Group Ltd | (e)(h) | | Food, Beverage & Tobacco | | SA+800 | 0.0 | % | 10/1/2029 | £ | 9.3 | 11.8 | 11.8 | ||||||||||||||||||
Watchfire Enterprises Inc | (e)(j) | | Technology Hardware & Equipment | | L+800 | 1.0 | % | 10/2/2024 | $ | 9.3 | 9.3 | 9.3 | ||||||||||||||||||
Wittur Holding GmbH | (e)(j)(k)(n) | Capital Goods | | E+850, 0.5% PIK (0.5% Max PIK) | | 0.0 | % | 9/23/2027 | € | 120.5 | 131.6 | 121.1 | ||||||||||||||||||
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Total Senior Secured Loans—Second Lien | 499.2 | 497.4 | ||||||||||||||||||||||||||||
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Other Senior Secured Debt—1.3% | ||||||||||||||||||||||||||||||
One Call Care Management Inc | (e) | | Health Care Equipment & Services | | | 8.5% PIK (8.5% Max PIK) | | 11/1/2028 | $ | 23.5 | 22.9 | 21.2 | ||||||||||||||||||
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Total Other Senior Secured Debt | 22.9 | 21.2 | ||||||||||||||||||||||||||||
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Asset Based Finance—35.9% | ||||||||||||||||||||||||||||||
Abacus JV, Private Equity | (e) | Insurance | 31,916,927 | 32.7 | 36.1 | |||||||||||||||||||||||||
Altavair AirFinance, Private Equity | (e) | Capital Goods | 36,500,000 | 43.0 | 44.8 | |||||||||||||||||||||||||
GA Capital Specialty Lending Fund, Limited Partnership Interest | (e)(n) | | Diversified Financials | | $ | 1.0 | — | 4.6 |
Credit Opportunities Partners JV, LLC Portfolio
Company(a) | Footnotes | Industry | Interest Rate(b) | Base Rate Floor | Maturity Date | No. Shares/Principal Amount(c) | Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—First Lien—135.2% | ||||||||||||||||||||||||||||||||||||||||||||||||||
ABB CONCISE Optical Group LLC | (j)(k) | Retailing | L+500 | 1.0% | 6/15/23 | $ | 16.2 | $ | 14.5 | $ | 15.7 | |||||||||||||||||||||||||||||||||||||||
Accuride Corp | (i)(j) | Capital Goods | L+525 | 1.0% | 11/17/23 | 21.0 | 20.3 | 20.3 | ||||||||||||||||||||||||||||||||||||||||||
Advania Sverige AB | (e) | Software & Services | SR+610, 0.0% PIK (3.3% Max PIK) | 0.0% | 4/28/28 | SEK | 588.0 | 66.4 | 64.3 | |||||||||||||||||||||||||||||||||||||||||
Advania Sverige AB | (e) | Software & Services | R+610, 0.0% PIK (3.3% Max PIK) | 0.0% | 4/28/28 | ISK | 1,644.9 | 12.8 | 12.5 | |||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc | (e)(h)(i) | Health Care Equipment & Services | L+550, 0.0% PIK (1.3% Max PIK) | 0.8% | 8/2/28 | $ | 55.9 | 55.6 | 55.6 | |||||||||||||||||||||||||||||||||||||||||
Alera Group Intermediate Holdings Inc | (e)(k) | Insurance | L+550 | 0.8% | 10/2/28 | 20.2 | 20.0 | 20.0 | ||||||||||||||||||||||||||||||||||||||||||
Alstom SA | (k) | Transportation | L+550, 2.5% PIK (2.5% Max PIK) | 1.0% | 8/29/23 | 6.1 | 5.3 | 5.0 | ||||||||||||||||||||||||||||||||||||||||||
Ammeraal Beltech Holding BV | (h)(k) | Capital Goods | E+350 | 0.0% | 7/30/25 | € | 4.8 | 4.7 | 5.4 | |||||||||||||||||||||||||||||||||||||||||
Apex Group Limited | (h) | Diversified Financials | L+375 | 0.5% | 7/27/28 | $ | 4.2 | 4.2 | 4.2 | |||||||||||||||||||||||||||||||||||||||||
Apex Group Limited | (h) | Diversified Financials | E+400 | 0.0% | 7/27/28 | € | 1.6 | 1.9 | 1.8 | |||||||||||||||||||||||||||||||||||||||||
Arcos LLC/VA | (e)(h)(j) | Software & Services | L+575 | 1.0% | 3/31/28 | $ | 22.4 | 22.2 | 22.3 | |||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (e)(i) | Insurance | L+675 | 0.8% | 7/14/26 | £ | 3.8 | 4.7 | 5.2 | |||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (e)(i) | Insurance | E+675 | 1.0% | 7/14/26 | € | 0.5 | 0.5 | 0.6 | |||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (e)(j)(k) | Insurance | L+550 | 0.8% | 7/14/26 | $ | 40.7 | 40.3 | 40.3 | |||||||||||||||||||||||||||||||||||||||||
Arrotex Australia Group Pty Ltd | (e)(j)(k)(n) | Pharmaceuticals, Biotechnology & Life Sciences | B+525 | 1.0% | 7/10/24 | A$ | 109.4 | 73.6 | 79.7 | |||||||||||||||||||||||||||||||||||||||||
Arrotex Australia Group Pty Ltd | (e)(j)(k)(n) | Pharmaceuticals, Biotechnology & Life Sciences | B+525 | 1.0% | 7/10/24 | 8.0 | 5.7 | 5.8 | ||||||||||||||||||||||||||||||||||||||||||
Barbri Inc | (e)(h)(i) | Consumer Services | L+575 | 0.8% | 4/28/28 | $ | 47.7 | 47.7 | 47.7 | |||||||||||||||||||||||||||||||||||||||||
BearCom Acquisition Corp | (e)(j) | Technology Hardware & Equipment | L+600 | 1.0% | 7/5/24 | 2.2 | 2.2 | 2.1 | ||||||||||||||||||||||||||||||||||||||||||
BearCom Acquisition Corp | (e)(j) | Technology Hardware & Equipment | C+550 | 1.0% | 7/5/24 | C$ | 14.4 | 10.5 | 11.0 | |||||||||||||||||||||||||||||||||||||||||
BearCom Acquisition Corp | (e)(f) | Technology Hardware & Equipment | C+550 | 1.0% | 1/5/24 | 1.3 | 1.0 | 1.0 | ||||||||||||||||||||||||||||||||||||||||||
Belk Inc | Retailing | L+750 | 1.0% | 7/31/25 | $ | 0.6 | 0.6 | 0.6 | ||||||||||||||||||||||||||||||||||||||||||
Belk Inc | Retailing | 5.0%, 8.0% PIK (8.0% Max PIK) | 7/31/25 | 2.9 | 1.5 | 2.1 | ||||||||||||||||||||||||||||||||||||||||||||
BGB Group LLC | (e)(h)(i) | Media & Entertainment | L+575 | 1.0% | 8/16/27 | 48.5 | 48.2 | 48.3 | ||||||||||||||||||||||||||||||||||||||||||
Big Bus Tours Ltd | (e)(j) | Consumer Services | L+850 PIK (L+850 Max PIK) | 1.0% | 3/15/24 | 16.4 | 16.4 | 10.3 | ||||||||||||||||||||||||||||||||||||||||||
Big Bus Tours Ltd | (e)(j) | Consumer Services | E+850 PIK (E+850 Max PIK) | 1.0% | 3/15/24 | € | 11.5 | 12.9 | 8.3 | |||||||||||||||||||||||||||||||||||||||||
Bugaboo International BV | (e)(h)(i)(n) | Consumer Durables & Apparel | E+700, 0.0% PIK (7.8% Max PIK) | 0.0% | 3/20/25 | 35.0 | 40.8 | 39.8 | ||||||||||||||||||||||||||||||||||||||||||
Caprock Midstream LLC | (i) | Energy | L+475 | 0.0% | 11/3/25 | $ | 13.3 | 13.0 | 13.2 | |||||||||||||||||||||||||||||||||||||||||
CSafe Global | (e)(h)(i)(k) | Capital Goods | L+625 | 0.8% | 12/23/27 | 60.0 | 59.9 | 60.0 | ||||||||||||||||||||||||||||||||||||||||||
CSafe Global | (e)(h) | Capital Goods | L+625 | 0.8% | 8/13/28 | 17.5 | 17.5 | 17.5 | ||||||||||||||||||||||||||||||||||||||||||
Cubic Corp | (i) | Software & Services | L+425 | 0.8% | 5/25/28 | 9.2 | 9.2 | 9.2 | ||||||||||||||||||||||||||||||||||||||||||
Eagleclaw Midstream Ventures LLC | (k) | Energy | L+425 | 1.0% | 6/24/24 | 11.1 | 10.6 | 11.1 | ||||||||||||||||||||||||||||||||||||||||||
EIF Van Hook Holdings LLC | (i)(k) | Energy | L+525 | 0.0% | 9/5/24 | 8.1 | 7.8 | 7.8 | ||||||||||||||||||||||||||||||||||||||||||
Entertainment Benefits Group LLC | (e)(k) | Media & Entertainment | L+575, 2.5% PIK (2.5% Max PIK) | 1.0% | 9/30/25 | 2.6 | 2.6 | 2.5 | ||||||||||||||||||||||||||||||||||||||||||
Follett Software Co | (e)(h)(i) | Software & Services | L+575 | 0.8% | 8/31/28 | 37.9 | 37.5 | 37.7 | ||||||||||||||||||||||||||||||||||||||||||
Frontline Technologies Group LLC | (e)(i) | Software & Services | L+525 | 1.0% | 9/18/23 | 19.7 | 19.8 | 19.7 | ||||||||||||||||||||||||||||||||||||||||||
Galway Partners Holdings LLC | (e)(k) | Insurance | L+525, 0.0% PIK (1.3% Max PIK) | 0.8% | 9/29/28 | 20.3 | 20.0 | 20.0 | ||||||||||||||||||||||||||||||||||||||||||
General Datatech LP | (e)(j) | Software & Services | L+625 | 1.0% | 6/18/27 | 10.2 | 10.0 | 10.0 | ||||||||||||||||||||||||||||||||||||||||||
Greystone Equity Member Corp | (e) | Diversified Financials | L+725 | 3.8% | 4/1/26 | 30.2 | 30.0 | 29.9 | ||||||||||||||||||||||||||||||||||||||||||
HealthChannels LLC | (j) | Health Care Equipment & Services | L+450 | 0.0% | 4/3/25 | 15.6 | 15.5 | 14.3 | ||||||||||||||||||||||||||||||||||||||||||
Hermes UK Ltd | (e) | Transportation | SA+650 | 0.0% | 11/30/27 | £ | 14.7 | 19.5 | 19.3 |
Company(a) | Footnotes | Industry | Interest Rate(b) | Base Rate Floor | Maturity Date | No. Shares/ Principal Amount(c) | Cost | Fair Value(d) | ||||||||||||||||||
Global Lending Services LLC, Private Equity | (e)(n) | Diversified Financials | 3,545,098 | $ | 3.5 | $ | 4.3 | |||||||||||||||||||
Global Lending Services LLC, Private Equity | (e)(p) | Diversified Financials | 20,650,000 | 27.1 | 27.1 | |||||||||||||||||||||
Home Partners JV, Common Stock | (e) | Real Estate | 14,241,634 | 21.4 | 40.4 | |||||||||||||||||||||
Home Partners JV, Structured Mezzanine | (e) | Real Estate | 11.0% PIK (11.0% Max PIK) | 3/25/2029 | $ | 38.4 | 38.4 | 38.4 | ||||||||||||||||||
KKR Zeno Aggregator LP (K2 Aviation), Partnership Interest | (e)(n)(p) | Capital Goods | 19,642,734 | 24.4 | 16.6 | |||||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (e)(n) | Technology Hardware & Equipment | 7.8% | 9/22/2024 | € | 6.9 | 8.1 | 7.7 | ||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (e)(n) | Technology Hardware & Equipment | 7.8% | 9/22/2024 | $ | 10.7 | 10.7 | 10.7 | ||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (e)(n) | Technology Hardware & Equipment | 11.8% | 9/22/2024 | € | 4.8 | 5.6 | 5.3 | ||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (e)(n) | Technology Hardware & Equipment | 11.8% | 9/22/2024 | £ | 1.3 | 1.8 | 1.7 | ||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (e)(n) | Technology Hardware & Equipment | 7.8% | 9/22/2024 | £ | 1.9 | 2.6 | 2.5 | ||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (e)(n) | Technology Hardware & Equipment | 11.8% | 9/22/2024 | $ | 7.4 | 7.4 | 7.4 | ||||||||||||||||||
Luxembourg Life Fund—Absolute Return Fund I, 1L Term Loan | (e)(h)(n) | Insurance | L+750 | 1.5 | % | 2/27/2025 | $ | 25.3 | 25.4 | 25.5 | ||||||||||||||||
Luxembourg Life Fund—Absolute Return Fund III, Term Loan | (e)(h)(k)(n) | Insurance | L+925 | 0.0 | % | 5/27/2026 | $ | 57.4 | 56.9 | 58.8 | ||||||||||||||||
Luxembourg Life Fund—Long Term Growth Fund, Term Loan | (e)(h)(i)(k)(n) | Insurance | L+925 | 0.0 | % | 4/1/2023 | $ | 94.6 | 94.2 | 95.5 | ||||||||||||||||
Music IP, Private Equity | (e) | Media & Entertainment | 19,625,000 | 22.9 | 22.9 | |||||||||||||||||||||
My Community Homes SFR PropCo 2, Private Equity | (e)(p) | Real Estate | 35,000,000 | 35.0 | 35.0 | |||||||||||||||||||||
NewStar Clarendon 2014-1A Class D | (e)(k)(n) | Diversified Financials | 25.2% | 1/25/2027 | $ | 30.0 | 9.3 | 15.0 | ||||||||||||||||||
Pretium Partners LLC P1, Structured Mezzanine | (e)(h)(i) | Real Estate | 2.8%, 5.3% PIK (5.3% Max PIK) | 10/22/2026 | $ | 26.3 | 25.9 | 26.3 | ||||||||||||||||||
Pretium Partners LLC P2, Private Equity | (e)(p) | Real Estate | 16,772,368 | 16.2 | 15.1 |
Footnotes Industry Base Rate Floor Maturity Date Cost Higginbotham Insurance Agency Inc (e)(h)(i) Insurance L+550 0.8% 11/25/26 $ 38.0 $ 38.4 $ 38.8 Industria Chimica Emiliana Srl (e)(j)(k)(n) Pharmaceuticals, Biotechnology & Life Sciences E+725 0.0% 9/27/26 € 113.9 125.0 133.3 Insight Global LLC (e)(h)(i) Commercial & Professional Services L+600 0.8% 9/22/28 $ 37.9 37.5 37.4 KBP Investments LLC (e)(h)(i) Food & Staples Retailing L+500 0.8% 5/26/27 23.7 23.6 23.5 Kellermeyer Bergensons Services LLC (e)(i)(j) Commercial & Professional Services L+575 1.0% 11/7/26 29.5 28.1 29.6 Kettle Cuisine LLC (j) Food, Beverage & Tobacco L+375 1.0% 8/25/25 16.4 16.4 15.6 Lakeview Farms Inc (e)(j) Food, Beverage & Tobacco L+625 1.0% 6/10/27 15.7 15.6 15.6 Lexitas Inc (e)(h) Commercial & Professional Services L+600 1.0% 11/14/25 8.0 7.9 8.1 Lexitas Inc (e)(h) Commercial & Professional Services L+600 1.0% 11/14/25 10.7 10.7 10.8 Lionbridge Technologies Inc (e)(i)(j) Consumer Services L+700 1.0% 12/29/25 28.3 27.7 28.9 Lipari Foods LLC (e)(k) Food & Staples Retailing 1.0% 1/6/25 65.3 65.2 65.4 Lloyd's Register Quality Assurance Ltd (e)(i)(k) Consumer Services E+600, 0.0% PIK (6.3% Max PIK) 0.0% 12/2/28 € 44.3 48.6 48.9 Monitronics International Inc (h)(i)(k) Commercial & Professional Services L+500 1.5% 7/3/24 $ 35.5 32.9 35.6 Motion Recruitment Partners LLC (e)(h)(j) Commercial & Professional Services L+650 1.0% 12/22/25 25.0 24.7 24.7 New Era Technology Inc (e)(j) Software & Services L+625 1.0% 10/31/26 10.0 10.0 10.0 One Call Care Management Inc (h) Health Care Equipment & Services L+550 0.8% 4/22/27 5.0 5.0 5.0 Ontic Engineering & Manufacturing Inc (h) Capital Goods L+400 0.0% 10/30/26 2.1 1.9 2.1 Parata Systems (e)(h)(i) Health Care Equipment & Services L+575 1.0% 6/30/27 57.9 57.7 58.0 Precision Global Corp (e)(j) Materials L+475 1.0% 8/3/24 9.0 8.7 8.7 Premium Credit Ltd (e)(h)(i) Diversified Financials L+650 0.0% 1/16/26 £ 49.4 63.9 67.0 Pretium Packaging LLC (j) Household & Personal Products L+400 0.5% 10/2/28 $ 1.6 1.6 1.6 Project Marron (e)(h)(j) Consumer Services B+625 0.0% 7/2/25 A$ 63.6 43.9 43.6 Project Marron (e)(i)(j) Consumer Services C+625 0.0% 7/2/25 C$ 52.5 39.9 39.1 Project Marron (e)(h) Consumer Services B+575 0.0% 7/2/25 A$ 3.2 2.3 2.2 Pure Fishing Inc (i) Consumer Durables & Apparel L+450 0.0% 12/22/25 $ 9.9 9.8 9.6 Qdoba Restaurant Corp (h)(k) Consumer Services L+700 1.0% 3/21/25 3.5 3.3 3.4 Reliant Rehab Hospital Cincinnati LLC (e)(j) Health Care Equipment & Services L+625 0.0% 2/28/26 15.6 15.2 15.3 Revere Superior Holdings Inc (e)(k) Software & Services L+575 1.0% 9/30/26 19.8 19.8 19.9 Rise Baking Company (e)(k) Food, Beverage & Tobacco L+625 1.0% 8/13/27 1.0 1.0 1.0 Rise Baking Company (e)(j)(k) Food, Beverage & Tobacco L+625 1.0% 8/13/27 30.7 30.0 30.1 Rise Baking Company (e)(f) Food, Beverage & Tobacco L+625 1.0% 8/13/27 0.9 0.9 0.9 RSC Insurance Brokerage Inc (e)(k) Insurance L+550 0.8% 10/30/26 19.0 19.0 19.2 Safe-Guard Products International LLC (e)(i)(j)(k) Diversified Financials L+500 0.5% 1/27/27 75.5 76.0 75.5 SAMBA Safety Inc (e)(h)(j) Software & Services L+575 1.0% 9/1/27 27.4 27.1 27.2 SavATree LLC (e)(j)(k) Consumer Services L+550 0.8% 10/12/28 40.0 39.7 39.7 Sequa Corp (h)(j)(k) Capital Goods L+675, 0.0% PIK (1.0% Max PIK) 1.0% 11/28/23 45.4 43.9 45.8 SIRVA Worldwide Inc (i) Commercial & Professional Services L+550 0.0% 8/4/25 7.1 6.7 6.4 Staples Canada (e)(h)(i)(j)(k)(n) Retailing C+700 1.0% 9/12/24 C$ 87.0 67.1 70.8 Summit Interconnect Inc (e)(j) Capital Goods L+600 1.0% 9/22/28 $ 10.1 10.0 10.0 Time Manufacturing Co (e)(h)(i) Capital Goods E+650 0.8% 12/1/27 € 29.5 32.7 32.9 Total Safety US Inc (h)(i) Capital Goods L+600 1.0% 8/18/25 $ 11.8 10.4 11.7 Transaction Services Group Ltd (e)(j)(k)(n) Software & Services B+650 0.0% 10/15/26 A$ 162.0 110.9 115.2 West Corp (i) Software & Services L+400 1.0% 10/10/24 $ 12.4 12.2 11.8 West Corp (i) Software & Services L+350 1.0% 10/10/24 2.6 2.5 2.4 Woolpert Inc (e)(h)(i)(j) Capital Goods L+600 1.0% 4/5/28 53.5 53.0 54.3 Yak Access LLC (n) Capital Goods L+500 0.0% 7/11/25 0.8 0.6 0.7 Total Senior Secured Loans—First Lien 2,136.4 2,159.4
Company(a) | Footnotes | Industry | Interest Rate(b) | Base Rate Floor | Maturity Date | No. Shares/ Principal Amount(c) | Cost | Fair Value(d) | ||||||||||||||||||||||
Roemanu LLC (FKA Toorak Capital Partners LLC), Private Equity | (e) | Real Estate | 40,000,000 | $ | 50.2 | $ | 50.0 | |||||||||||||||||||||||
Sealane Trade Finance | (e)(m) | Banks | L+375 | 0.0 | % | 5/8/2023 | $ | 5.0 | 5.0 | 5.0 | ||||||||||||||||||||
Sealane Trade Finance | (e)(m) | Banks | L+963 | 0.0 | % | 5/8/2023 | $ | 11.2 | 11.2 | 11.2 | ||||||||||||||||||||
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Total Asset Based Finance | 578.9 | 607.9 | ||||||||||||||||||||||||||||
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Equity/Other—9.8% | ||||||||||||||||||||||||||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp, Common Stock | (e)(l)(p) | Energy | 13,556 | 3.6 | 4.8 | |||||||||||||||||||||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp, Trade Claim | (e)(l)(p) | Energy | 115,178,571 | 30.5 | 40.4 | |||||||||||||||||||||||||
Belk Inc, Common Stock | (e)(p) | Retailing | 381 | — | — | |||||||||||||||||||||||||
Misys Ltd, Preferred Stock | (e) | | Software & Services | | | L+1,025 PIK (L+1,025 Max PIK) | | 23,400,000 | 22.9 | 22.9 | ||||||||||||||||||||
One Call Care Management Inc, Common Stock | (e)(p) | | Health Care Equipment & Services | | 34,873 | 2.2 | 2.3 | |||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock A | (e)(p) | | Health Care Equipment & Services | | 371,993 | 23.7 | 25.0 | |||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock B | (e) | | Health Care Equipment & Services | | | 9.0% PIK (9.0% Max PIK) | | 10/25/2029 | 7,672,346 | 8.8 | 7.7 | |||||||||||||||||||
Pure Gym Ltd, Private Equity | (e)(p) | | Consumer Services | | 30,218,000 | 39.4 | 40.4 | |||||||||||||||||||||||
Zeta Interactive Holdings Corp, Common Stock | (k)(p) | | Software & Services | | 1,766,696 | 15.1 | 22.5 | |||||||||||||||||||||||
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Total Equity/Other | 146.2 | 166.0 | ||||||||||||||||||||||||||||
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TOTAL INVESTMENTS—223.1% | $ | 3,723.0 | $ | 3,772.5 | ||||||||||||||||||||||||||
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Derivative Instruments—(0.3)% | ||||||||||||||||||||||||||||||
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Foreign currency forward contracts | $ | (4.4 | ) | |||||||||||||||||||||||||||
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Footnotes Industry Base Rate Floor Maturity Date Cost Unfunded Loan Commitments $ (1.9) $ (1.9) Net Senior Secured Loans—First Lien 2,134.5 2,157.5 Senior Secured Loans—Second Lien—31.5% Access CIG LLC (h)(i) Commercial & Professional Services L+775 0.0% 2/27/26 2.5 2.2 2.5 Ammeraal Beltech Holding BV (e)(k)(n) Capital Goods L+775 0.0% 9/12/26 81.5 79.8 80.3 Apex Group Limited (e)(h)(i) Diversified Financials L+675 0.5% 7/27/29 32.0 31.7 32.0 EaglePicher Technologies LLC (h) Capital Goods L+725 0.0% 3/8/26 0.4 0.4 0.4 Excelitas Technologies Corp (h)(i)(j) Technology Hardware & Equipment L+750 1.0% 12/1/25 22.6 19.7 22.7 Misys Ltd (h)(i)(k) Software & Services L+725 1.0% 6/13/25 41.2 38.8 41.2 NEP Broadcasting LLC (i) Media & Entertainment L+700 0.0% 10/19/26 6.8 6.7 6.7 OEConnection LLC (e)(h)(i)(j) Software & Services L+825 0.0% 9/25/27 50.0 50.0 49.1 Paradigm Acquisition Corp (h)(k) Health Care Equipment & Services L+750 0.0% 10/26/26 2.5 2.5 2.5 Pretium Packaging LLC (e)(h)(i)(j) Household & Personal Products L+675 0.5% 10/1/29 39.9 39.7 39.5 Pure Fishing Inc (e)(k) Consumer Durables & Apparel L+838 1.0% 12/21/26 46.8 42.0 44.5 Sequa Corp (i)(k) Capital Goods L+1,075, 0.0% PIK (6.8% Max PIK) 1.0% 4/28/24 39.1 33.9 39.1 SIRVA Worldwide Inc (j) Commercial & Professional Services L+950 0.0% 8/3/26 3.8 3.1 3.3 Watchfire Enterprises Inc (e)(j) Technology Hardware & Equipment L+825 1.0% 10/2/24 9.3 9.3 9.3 Wittur Holding GmbH (e)(j)(k)(n) Capital Goods E+850, 0.5% PIK (0.5% Max PIK) 0.0% 9/23/27 € 120.5 131.5 129.3 Total Senior Secured Loans—Second Lien 491.3 502.4 Other Senior Secured Debt—1.5% One Call Care Management Inc (e) Health Care Equipment & Services 8.5% PIK (8.5% Max PIK) 11/1/28 $ 23.5 22.9 23.5 Total Other Senior Secured Debt 22.9 23.5 Asset Based Finance—31.0% Abacus JV, Private Equity (e) Insurance 31,916,927 32.7 34.2 Altavair AirFinance, Private Equity (e) Capital Goods 36,500,000 43.0 44.1 GA Capital Specialty Lending Fund, Limited Partnership Interest (e)(n) Diversified Financials 1 — 4.5 Global Lending Services LLC, Private Equity (e)(n) Diversified Financials 3,653,142 3.7 4.6 Home Partners JV, Common Stock (e)(o) Real Estate 15,249,687 22.9 37.6 Home Partners JV, Structured Mezzanine (e) Real Estate 11.0% PIK (11.0% Max PIK) 3/25/29 $ 38.4 38.4 38.4 KKR Zeno Aggregator LP (K2 Aviation), Partnership Interest (e)(n)(o) Capital Goods 19,642,734 24.4 15.9 Lenovo Group Ltd, Structured Mezzanine (e)(n) Technology Hardware & Equipment 7.8% 9/22/24 € 6.9 8.1 7.9 Lenovo Group Ltd, Structured Mezzanine (e)(n) Technology Hardware & Equipment 7.8% 9/22/24 $ 10.7 10.7 10.7 Lenovo Group Ltd, Structured Mezzanine (e)(n) Technology Hardware & Equipment 11.8% 9/22/24 € 4.8 5.6 5.4 Lenovo Group Ltd, Structured Mezzanine (e)(n) Technology Hardware & Equipment 11.8% 9/22/24 £ 1.3 1.8 1.7 Lenovo Group Ltd, Structured Mezzanine (e)(n) Technology Hardware & Equipment 7.8% 9/22/24 £ 1.9 2.6 2.5 Lenovo Group Ltd, Structured Mezzanine (e)(n) Technology Hardware & Equipment 11.8% 9/22/24 $ 7.4 7.4 7.4 Luxembourg Life Fund - Absolute Return Fund I, 1L Term Loan (e)(h)(n) Insurance L+750 1.5% 2/27/25 $ 26.8 26.9 27.1 Luxembourg Life Fund - Absolute Return Fund III, Term Loan (e)(h)(k)(n) Insurance L+925 0.0% 5/27/26 $ 57.5 57.0 57.0
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Footnotes Industry Base Rate Floor Maturity Date Cost Luxembourg Life Fund - Long Term Growth Fund, Term Loan (e)(h)(i)(k)(n) Insurance L+925 0.0% 4/1/23 $ 94.6 $ 94.1 $ 94.5 NewStar Clarendon 2014-1A Class D (e)(k)(n) Diversified Financials 18.3% 1/25/27 $ 30.0 9.3 15.3 Pretium Partners LLC P1, Structured Mezzanine (e)(h)(i) Real Estate 2.8%, 5.3% PIK (5.3% Max PIK) 10/22/26 $ 18.9 18.6 19.1 Sealane Trade Finance (e)(m) Banks L+375 0.0% 5/8/23 $ 5.0 5.0 5.0 Sealane Trade Finance (e)(m) Banks L+963 0.0% 5/8/23 $ 11.2 11.2 11.2 Toorak Capital Partners LLC, Private Equity (e) Real Estate 40,000,000 50.2 50.4 Total Asset Based Finance 473.6 494.5 Equity/Other—5.1% Ascent Resources Utica Holdings LLC / ARU Finance Corp, Common Stock (e)(l)(o) Energy 13,556 3.6 3.1 Ascent Resources Utica Holdings LLC / ARU Finance Corp, Trade Claim (e)(l)(o) Energy 115,178,571 30.5 26.4 Belk Inc, Common Stock (e)(o) Retailing 381 — — One Call Care Management Inc, Common Stock (e)(o) Health Care Equipment & Services 34,873 2.2 2.4 One Call Care Management Inc, Preferred Stock A (e)(o) Health Care Equipment & Services 371,993 23.7 26.1 One Call Care Management Inc, Preferred Stock B (e) Health Care Equipment & Services 9.0% PIK (9.0% Max PIK) 10/25/29 7,672,346 8.8 9.2 Zeta Interactive Holdings Corp, Common Stock (k)(o) Software & Services 1,766,696 15.1 14.9 Total Equity/Other 83.9 82.1 TOTAL INVESTMENTS—204.3% $ 3,206.2 $ 3,260.0 Derivative Instruments—(0.4)% Foreign currency forward contracts $ (6.7)
Credit Opportunities Partners JV,
Asand is pledged as collateral supporting the amounts outstanding under the revolving credit facility with BNP Paribas.
Company(a) | Footnotes | Industry | Interest Rate(b) | Base Rate Floor | Maturity Date | No. Shares/ Principal Amount(c) | Cost | Fair Value(d) | ||||||||||||||||||||||
Senior Secured Loans—First Lien—135.2% | ||||||||||||||||||||||||||||||
ABB CONCISE Optical Group LLC | (j)(k) | Retailing | L+500 | 1.0 | % | 6/15/23 | $ | 16.2 | $ | 14.5 | $ | 15.7 | ||||||||||||||||||
Accuride Corp | (i)(j) | Capital Goods | L+525 | 1.0 | % | 11/17/23 | 21.0 | 20.3 | 20.3 | |||||||||||||||||||||
Advania Sverige AB | (e) | | Software & Services | | | SR+610, 0.0% PIK (3.3% Max PIK) | | 0.0 | % | 4/28/28 | SEK | 588.0 | 66.4 | 64.3 | ||||||||||||||||
Advania Sverige AB | (e) | | Software & Services | | | R+610, 0.0% PIK (3.3% Max PIK) | | 0.0 | % | 4/28/28 | ISK | 1,644.9 | 12.8 | 12.5 | ||||||||||||||||
Affordable Care Inc | (e)(h)(i) | | Health Care Equipment & Services | | | L+550, 0.0% PIK (1.3% Max PIK) | | 0.8 | % | 8/2/28 | $ | 55.9 | 55.6 | 55.6 | ||||||||||||||||
Alera Group Intermediate Holdings Inc | (e)(k) | Insurance | L+550 | 0.8 | % | 10/2/28 | 20.2 | 20.0 | 20.0 | |||||||||||||||||||||
Alstom SA | (k) | Transportation | | L+550, 2.5% PIK (2.5% Max PIK) | | 1.0 | % | 8/29/23 | 6.1 | 5.3 | 5.0 | |||||||||||||||||||
Ammeraal Beltech Holding BV | (h)(k) | Capital Goods | E+350 | 0.0 | % | 7/30/25 | € | 4.8 | 4.7 | 5.4 | ||||||||||||||||||||
Apex Group Limited | (h) | | Diversified Financials | | L+375 | 0.5 | % | 7/27/28 | $ | 4.2 | 4.2 | 4.2 | ||||||||||||||||||
Apex Group Limited | (h) | | Diversified Financials | | E+400 | 0.0 | % | 7/27/28 | € | 1.6 | 1.9 | 1.8 | ||||||||||||||||||
Arcos LLC/VA | (e)(h)(j) | | Software & Services | | L+575 | 1.0 | % | 3/31/28 | $ | 22.4 | 22.2 | 22.3 | ||||||||||||||||||
Ardonagh Group Ltd | (e)(i) | Insurance | L+675 | 0.8 | % | 7/14/26 | £ | 3.8 | 4.7 | 5.2 | ||||||||||||||||||||
Ardonagh Group Ltd | (e)(i) | Insurance | E+675 | 1.0 | % | 7/14/26 | € | 0.5 | 0.5 | 0.6 | ||||||||||||||||||||
Ardonagh Group Ltd | (e)(j)(k) | Insurance | L+550 | 0.8 | % | 7/14/26 | $ | 40.7 | 40.3 | 40.3 | ||||||||||||||||||||
Arrotex Australia Group Pty Ltd | (e)(j)(k)(n) | | Pharmaceuticals, Biotechnology & Life Sciences | | B+525 | 1.0 | % | 7/10/24 | A$ | 109.4 | 73.6 | 79.7 | ||||||||||||||||||
Arrotex Australia Group Pty Ltd | (e)(j)(k)(n) | | Pharmaceuticals, Biotechnology & Life Sciences | | B+525 | 1.0 | % | 7/10/24 | 8.0 | 5.7 | 5.8 | |||||||||||||||||||
Barbri Inc | (e)(h)(i) | | Consumer Services | | L+575 | 0.8 | % | 4/28/28 | $ | 47.7 | 47.7 | 47.7 | ||||||||||||||||||
BearCom Acquisition Corp | (e)(j) | | Technology Hardware & Equipment | | L+600 | 1.0 | % | 7/5/24 | 2.2 | 2.2 | 2.1 | |||||||||||||||||||
BearCom Acquisition Corp | (e)(j) | | Technology Hardware & Equipment | | C+550 | 1.0 | % | 7/5/24 | C$ | 14.4 | 10.5 | 11.0 | ||||||||||||||||||
BearCom Acquisition Corp | (e)(f) | | Technology Hardware & Equipment | | C+550 | 1.0 | % | 1/5/24 | 1.3 | 1.0 | 1.0 |
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share(m)Security or portion thereof held within JCF Cayman Ltd and per share amounts)
Note 6. Investment Portfolio (continued)
Company(a) | Footnotes | Industry | Interest Rate(b) | Base Rate Floor | Maturity Date | No. Shares/ Principal Amount(c) | Cost | Fair Value(d) | ||||||||||||||||||
Belk Inc | Retailing | L+750 | 1.0 | % | 7/31/25 | $ | 0.6 | $ | 0.6 | $ | 0.6 | |||||||||||||||
Belk Inc | Retailing | 5.0%, 8.0% PIK (8.0% Max PIK) | 7/31/25 | 2.9 | 1.5 | 2.1 | ||||||||||||||||||||
BGB Group LLC | (e)(h)(i) | Media & Entertainment | L+575 | 1.0 | % | 8/16/27 | 48.5 | 48.2 | 48.3 | |||||||||||||||||
Big Bus Tours Ltd | (e)(j) | Consumer Services | L+850 PIK (L+850 Max PIK) | 1.0 | % | 3/15/24 | 16.4 | 16.4 | 10.3 | |||||||||||||||||
Big Bus Tours Ltd | (e)(j) | Consumer Services | E+850 PIK (E+850 Max PIK) | 1.0 | % | 3/15/24 | € | 11.5 | 12.9 | 8.3 | ||||||||||||||||
Bugaboo International BV | (e)(h)(i)(n) | Consumer Durables & Apparel | E+700, 0.0% PIK (7.8% Max PIK) | 0.0 | % | 3/20/25 | 35.0 | 40.8 | 39.8 | |||||||||||||||||
Caprock Midstream LLC | (i) | Energy | L+475 | 0.0 | % | 11/3/25 | $ | 13.3 | 13.0 | 13.2 | ||||||||||||||||
CSafe Global | (e)(h)(i)(k) | Capital Goods | L+625 | 0.8 | % | 12/23/27 | 60.0 | 59.9 | 60.0 | |||||||||||||||||
CSafe Global | (e)(h) | Capital Goods | L+625 | 0.8 | % | 8/13/28 | 17.5 | 17.5 | 17.5 | |||||||||||||||||
Cubic Corp | (i) | Software & Services | L+425 | 0.8 | % | 5/25/28 | 9.2 | 9.2 | 9.2 | |||||||||||||||||
Eagleclaw Midstream Ventures LLC | (k) | Energy | L+425 | 1.0 | % | 6/24/24 | 11.1 | 10.6 | 11.1 | |||||||||||||||||
EIF Van Hook Holdings LLC | (i)(k) | Energy | L+525 | 0.0 | % | 9/5/24 | 8.1 | 7.8 | 7.8 | |||||||||||||||||
Entertainment Benefits Group LLC | (e)(k) | Media & Entertainment | L+575, 2.5% PIK (2.5% Max PIK) | 1.0 | % | 9/30/25 | 2.6 | 2.6 | 2.5 | |||||||||||||||||
Follett Software Co | (e)(h)(i) | Software & Services | L+575 | 0.8 | % | 8/31/28 | 37.9 | 37.5 | 37.7 | |||||||||||||||||
Frontline Technologies Group LLC | (e)(i) | Software & Services | L+525 | 1.0 | % | 9/18/23 | 19.7 | 19.8 | 19.7 | |||||||||||||||||
Galway Partners Holdings LLC | (e)(k) | Insurance | L+525, 0.0% PIK (1.3% Max PIK) | 0.8 | % | 9/29/28 | 20.3 | 20.0 | 20.0 | |||||||||||||||||
General Datatech LP | (e)(j) | Software & Services | L+625 | 1.0 | % | 6/18/27 | 10.2 | 10.0 | 10.0 | |||||||||||||||||
Greystone Equity Member Corp | (e) | Diversified Financials | L+725 | 3.8 | % | 4/1/26 | 30.2 | 30.0 | 29.9 | |||||||||||||||||
HealthChannels LLC | (j) | Health Care Equipment & Services | L+450 | 0.0 | % | 4/3/25 | 15.6 | 15.5 | 14.3 | |||||||||||||||||
Hermes UK Ltd | (e) | Transportation | SA+650 | 0.0 | % | 11/30/27 | £ | 14.7 | 19.5 | 19.3 | ||||||||||||||||
Higginbotham Insurance Agency Inc | (e)(h)(i) | Insurance | L+550 | 0.8 | % | 11/25/26 | $ | 38.0 | 38.4 | 38.8 | ||||||||||||||||
Industria Chimica Emiliana Srl | (e)(j)(k)(n) | Pharmaceuticals, Biotechnology & Life Sciences | E+725 | 0.0 | % | 9/27/26 | € | 113.9 | 125.0 | 133.3 | ||||||||||||||||
Insight Global LLC | (e)(h)(i) | Commercial & Professional Services | L+600 | 0.8 | % | 9/22/28 | $ | 37.9 | 37.5 | 37.4 |
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share(n)Security or portion thereof held within Jersey City Funding LLC and per share amounts)
Note 6. Investment Portfolio (continued)
Company(a) | Footnotes | Industry | Interest Rate(b) | Base Rate Floor | Maturity Date | No. Shares/ Principal Amount(c) | Cost | Fair Value(d) | ||||||||||||||||||
KBP Investments LLC | (e)(h)(i) | Food & Staples Retailing | L+500 | 0.8 | % | 5/26/27 | 23.7 | $ | 23.6 | $ | 23.5 | |||||||||||||||
Kellermeyer Bergensons Services LLC | (e)(i)(j) | Commercial & Professional Services | L+575 | 1.0 | % | 11/7/26 | 29.5 | 28.1 | 29.6 | |||||||||||||||||
Kettle Cuisine LLC | (j) | Food, Beverage & Tobacco | L+375 | 1.0 | % | 8/25/25 | 16.4 | 16.4 | 15.6 | |||||||||||||||||
Lakeview Farms Inc | (e)(j) | Food, Beverage & Tobacco | L+625 | 1.0 | % | 6/10/27 | 15.7 | 15.6 | 15.6 | |||||||||||||||||
Lexitas Inc | (e)(h) | Commercial & Professional Services | L+600 | 1.0 | % | 11/14/25 | 8.0 | 7.9 | 8.1 | |||||||||||||||||
Lexitas Inc | (e)(h) | Commercial & Professional Services | L+600 | 1.0 | % | 11/14/25 | 10.7 | 10.7 | 10.8 | |||||||||||||||||
Lionbridge Technologies Inc | (e)(i)(j) | Consumer Services | L+700 | 1.0 | % | 12/29/25 | 28.3 | 27.7 | 28.9 | |||||||||||||||||
Lipari Foods LLC | (e)(k) | Food & Staples Retailing | L+575 | 1.0 | % | 1/6/25 | 65.3 | 65.2 | 65.4 | |||||||||||||||||
Lloyd’s Register Quality Assurance Ltd | (e)(i)(k) | Consumer Services | E+600, 0.0% PIK (6.3% Max PIK) | 0.0 | % | 12/2/28 | € | 44.3 | 48.6 | 48.9 | ||||||||||||||||
Monitronics International Inc | (h)(i)(k) | Commercial & Professional Services | L+500 | 1.5 | % | 7/3/24 | $ | 35.5 | 32.9 | 35.6 | ||||||||||||||||
Motion Recruitment Partners LLC | (e)(h)(j) | Commercial & Professional Services | L+650 | 1.0 | % | 12/22/25 | 25.0 | 24.7 | 24.7 | |||||||||||||||||
New Era Technology Inc | (e)(j) | Software & Services | L+625 | 1.0 | % | 10/31/26 | 10.0 | 10.0 | 10.0 | |||||||||||||||||
One Call Care Management Inc | (h) | Health Care Equipment & Services | L+550 | 0.8 | % | 4/22/27 | 5.0 | 5.0 | 5.0 | |||||||||||||||||
Ontic Engineering & Manufacturing Inc | (h) | Capital Goods | L+400 | 0.0 | % | 10/30/26 | 2.1 | 1.9 | 2.1 | |||||||||||||||||
Parata Systems | (e)(h)(i) | Health Care Equipment & Services | L+575 | 1.0 | % | 6/30/27 | 57.9 | 57.7 | 58.0 | |||||||||||||||||
Precision Global Corp | (e)(j) | Materials | L+475 | 1.0 | % | 8/3/24 | 9.0 | 8.7 | 8.7 | |||||||||||||||||
Premium Credit Ltd | (e)(h)(i) | Diversified Financials | L+650 | 0.0 | % | 1/16/26 | £ | 49.4 | 63.9 | 67.0 | ||||||||||||||||
Pretium Packaging LLC | (j) | Household & Personal Products | L+400 | 0.5 | % | 10/2/28 | $ | 1.6 | 1.6 | 1.6 | ||||||||||||||||
Project Marron | (e)(h)(j) | Consumer Services | B+625 | 0.0 | % | 7/2/25 | A$ | 63.6 | 43.9 | 43.6 |
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 6. Investment Portfolio (continued)
Company(a) | Footnotes | Industry | Interest Rate(b) | Base Rate Floor | Maturity Date | No. Shares/ Principal Amount(c) | Cost | Fair Value(d) | ||||||||||||||||||
Project Marron | (e)(i)(j) | Consumer Services | C+625 | 0.0 | % | 7/2/25 | C$ | 52.5 | $ | 39.9 | $ | 39.1 | ||||||||||||||
Project Marron | (e)(h) | Consumer Services | B+575 | 0.0 | % | 7/2/25 | A$ | 3.2 | 2.3 | 2.2 | ||||||||||||||||
Pure Fishing Inc | (i) | Consumer Durables & Apparel | L+450 | 0.0 | % | 12/22/25 | $ | 9.9 | 9.8 | 9.6 | ||||||||||||||||
Qdoba Restaurant Corp | (h)(k) | Consumer Services | L+700 | 1.0 | % | 3/21/25 | 3.5 | 3.3 | 3.4 | |||||||||||||||||
Reliant Rehab Hospital Cincinnati LLC | (e)(j) | Health Care Equipment & Services | L+625 | 0.0 | % | 2/28/26 | 15.6 | 15.2 | 15.3 | |||||||||||||||||
Revere Superior Holdings Inc | (e)(k) | Software & Services | L+575 | 1.0 | % | 9/30/26 | 19.8 | 19.8 | 19.9 | |||||||||||||||||
Rise Baking Company | (e)(k) | Food, Beverage & Tobacco | L+625 | 1.0 | % | 8/13/27 | 1.0 | 1.0 | 1.0 | |||||||||||||||||
Rise Baking Company | (e)(j)(k) | Food, Beverage & Tobacco | L+625 | 1.0 | % | 8/13/27 | 30.7 | 30.0 | 30.1 | |||||||||||||||||
Rise Baking Company | (e)(f) | Food, Beverage & Tobacco | L+625 | 1.0 | % | 8/13/27 | 0.9 | 0.9 | 0.9 | |||||||||||||||||
RSC Insurance Brokerage Inc | (e)(k) | Insurance | L+550 | 0.8 | % | 10/30/26 | 19.0 | 19.0 | 19.2 | |||||||||||||||||
Safe-Guard Products International LLC | (e)(i)(j)(k) | Diversified Financials | L+500 | 0.5 | % | 1/27/27 | 75.5 | 76.0 | 75.5 | |||||||||||||||||
SAMBA Safety Inc | (e)(h)(j) | Software & Services | L+575 | 1.0 | % | 9/1/27 | 27.4 | 27.1 | 27.2 | |||||||||||||||||
SavATree LLC | (e)(j)(k) | Consumer Services | L+550 | 0.8 | % | 10/12/28 | 40.0 | 39.7 | 39.7 | |||||||||||||||||
Sequa Corp | (h)(j)(k) | Capital Goods | L+675, 0.0% PIK (1.0% Max PIK) | 1.0 | % | 11/28/23 | 45.4 | 43.9 | 45.8 | |||||||||||||||||
SIRVA Worldwide Inc | (i) | Commercial & Professional Services | L+550 | 0.0 | % | 8/4/25 | 7.1 | 6.7 | 6.4 | |||||||||||||||||
Staples Canada | (e)(h)(i)(j)(k)(n) | Retailing | C+700 | 1.0 | % | 9/12/24 | C$ | 87.0 | 67.1 | 70.8 | ||||||||||||||||
Summit Interconnect Inc | (e)(j) | Capital Goods | L+600 | 1.0 | % | 9/22/28 | $ | 10.1 | 10.0 | 10.0 | ||||||||||||||||
Time Manufacturing Co | (e)(h)(i) | Capital Goods | E+650 | 0.8 | % | 12/1/27 | € | 29.5 | 32.7 | 32.9 | ||||||||||||||||
Total Safety US Inc | (h)(i) | Capital Goods | L+600 | 1.0 | % | 8/18/25 | $ | 11.8 | 10.4 | 11.7 | ||||||||||||||||
Transaction Services Group Ltd | (e)(j)(k)(n) | Software & Services | B+650 | 0.0 | % | 10/15/26 | A$ | 162.0 | 110.9 | 115.2 | ||||||||||||||||
West Corp | (i) | Software & Services | L+400 | 1.0 | % | 10/10/24 | $ | 12.4 | 12.2 | 11.8 | ||||||||||||||||
West Corp | (i) | Software & Services | L+350 | 1.0 | % | 10/10/24 | 2.6 | 2.5 | 2.4 | |||||||||||||||||
Woolpert Inc | (e)(h)(i)(j) | Capital Goods | L+600 | 1.0 | % | 4/5/28 | 53.5 | 53.0 | 54.3 |
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 6. Investment Portfolio (continued)
Company(a) | Footnotes | Industry | Interest Rate(b) | Base Rate Floor | Maturity Date | No. Shares/ Principal Amount(c) | Cost | Fair Value(d) | ||||||||||||||||||
Yak Access LLC | (n) | Capital Goods | L+500 | 0.0 | % | 7/11/25 | 0.8 | $ | 0.6 | $ | 0.7 | |||||||||||||||
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Total Senior Secured Loans—First Lien | 2,136.4 | 2,159.4 | ||||||||||||||||||||||||
Unfunded Loan Commitments | (1.9 | ) | (1.9 | ) | ||||||||||||||||||||||
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Net Senior Secured Loans—First Lien | 2,134.5 | 2,157.5 | ||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||
Senior Secured Loans—Second Lien—31.5% | ||||||||||||||||||||||||||
Access CIG LLC | (h)(i) | Commercial & Professional Services | L+775 | 0.0 | % | 2/27/26 | 2.5 | 2.2 | 2.5 | |||||||||||||||||
Ammeraal Beltech Holding BV | (e)(k)(n) | Capital Goods | L+775 | 0.0 | % | 9/12/26 | 81.5 | 79.8 | 80.3 | |||||||||||||||||
Apex Group Limited | (e)(h)(i) | Diversified Financials | L+675 | 0.5 | % | 7/27/29 | 32.0 | 31.7 | 32.0 | |||||||||||||||||
EaglePicher Technologies LLC | (h) | Capital Goods | L+725 | 0.0 | % | 3/8/26 | 0.4 | 0.4 | 0.4 | |||||||||||||||||
Excelitas Technologies Corp | (h)(i)(j) | Technology Hardware & Equipment | L+750 | 1.0 | % | 12/1/25 | 22.6 | 19.7 | 22.7 | |||||||||||||||||
Misys Ltd | (h)(i)(k) | Software & Services | L+725 | 1.0 | % | 6/13/25 | 41.2 | 38.8 | 41.2 | |||||||||||||||||
NEP Broadcasting LLC | (i) | Media & Entertainment | L+700 | 0.0 | % | 10/19/26 | 6.8 | 6.7 | 6.7 | |||||||||||||||||
OEConnection LLC | (e)(h)(i)(j) | Software & Services | L+825 | 0.0 | % | 9/25/27 | 50.0 | 50.0 | 49.1 | |||||||||||||||||
Paradigm Acquisition Corp | (h)(k) | Health Care Equipment & Services | L+750 | 0.0 | % | 10/26/26 | 2.5 | 2.5 | 2.5 | |||||||||||||||||
Pretium Packaging LLC | (e)(h)(i)(j) | Household & Personal Products | L+675 | 0.5 | % | 10/1/29 | 39.9 | 39.7 | 39.5 | |||||||||||||||||
Pure Fishing Inc | (e)(k) | Consumer Durables & Apparel | L+838 | 1.0 | % | 12/21/26 | 46.8 | 42.0 | 44.5 | |||||||||||||||||
Sequa Corp | (i)(k) | Capital Goods | L+1,075, 0.0% PIK (6.8% Max PIK) | 1.0 | % | 4/28/24 | 39.1 | 33.9 | 39.1 | |||||||||||||||||
SIRVA Worldwide Inc | (j) | Commercial & Professional Services | L+950 | 0.0 | % | 8/3/26 | 3.8 | 3.1 | 3.3 | |||||||||||||||||
Watchfire Enterprises Inc | (e)(j) | Technology Hardware & Equipment | L+825 | 1.0 | % | 10/2/24 | 9.3 | 9.3 | 9.3 |
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 6. Investment Portfolio (continued)
Company(a) | Footnotes | Industry | Interest Rate(b) | Base Rate Floor | Maturity Date | No. Shares/ Principal Amount(c) | Cost | Fair Value(d) | ||||||||||||||||||
Wittur Holding GmbH | (e)(j)(k)(n) | Capital Goods | E+850, 0.5% PIK (0.5% Max PIK) | 0.0 | % | 9/23/27 | € | 120.5 | $ | 131.5 | $ | 129.3 | ||||||||||||||
|
|
|
| |||||||||||||||||||||||
Total Senior Secured Loans—Second Lien | 491.3 | 502.4 | ||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||
Other Senior Secured Debt—1.5% | ||||||||||||||||||||||||||
One Call Care Management Inc | (e) | Health Care Equipment & Services | 8.5% PIK (8.5% Max PIK) | 11/1/28 | $ | 23.5 | 22.9 | 23.5 | ||||||||||||||||||
|
|
|
| |||||||||||||||||||||||
Total Other Senior Secured Debt | 22.9 | 23.5 | ||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||
Asset Based Finance—31.0% | ||||||||||||||||||||||||||
Abacus JV, Private Equity | (e) | Insurance | 31,916,927 | 32.7 | 34.2 | |||||||||||||||||||||
Altavair AirFinance, Private Equity | (e) | Capital Goods | 36,500,000 | 43.0 | 44.1 | |||||||||||||||||||||
GA Capital Specialty Lending Fund, Limited Partnership Interest | (e)(n) | Diversified Financials | 1 | — | 4.5 | |||||||||||||||||||||
Global Lending Services LLC, Private Equity | (e)(n) | Diversified Financials | 3,653,142 | 3.7 | 4.6 | |||||||||||||||||||||
Home Partners JV, Common Stock | (e)(o) | Real Estate | 15,249,687 | 22.9 | 37.6 | |||||||||||||||||||||
Home Partners JV, Structured Mezzanine | (e) | Real Estate | 11.0% PIK (11.0% Max PIK) | 3/25/29 | $ | 38.4 | 38.4 | 38.4 | ||||||||||||||||||
KKR Zeno Aggregator LP (K2 Aviation), Partnership Interest | (e)(n)(o) | Capital Goods | 19,642,734 | 24.4 | 15.9 | |||||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (e)(n) | Technology Hardware & Equipment | 7.8% | 9/22/24 | € | 6.9 | 8.1 | 7.9 | ||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (e)(n) | Technology Hardware & Equipment | 7.8% | 9/22/24 | $ | 10.7 | 10.7 | 10.7 | ||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (e)(n) | Technology Hardware & Equipment | 11.8% | 9/22/24 | € | 4.8 | 5.6 | 5.4 | ||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (e)(n) | Technology Hardware & Equipment | 11.8% | 9/22/24 | £ | 1.3 | 1.8 | 1.7 | ||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (e)(n) | Technology Hardware & Equipment | 7.8% | 9/22/24 | £ | 1.9 | 2.6 | 2.5 | ||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (e)(n) | Technology Hardware & Equipment | 11.8% | 9/22/24 | $ | 7.4 | 7.4 | 7.4 |
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 6. Investment Portfolio (continued)
Company(a) | Footnotes | Industry | Interest Rate(b) | Base Rate Floor | Maturity Date | No. Shares/ Principal Amount(c) | Cost | Fair Value(d) | ||||||||||||||||||||||
Luxembourg Life Fund—Absolute Return Fund I, 1L Term Loan | (e)(h)(n) | Insurance | L+750 | 1.5 | % | 2/27/25 | $ | 26.8 | $ | 26.9 | $ | 27.1 | ||||||||||||||||||
Luxembourg Life Fund—Absolute Return Fund III, Term Loan | (e)(h)(k)(n) | Insurance | L+925 | 0.0 | % | 5/27/26 | $ | 57.5 | 57.0 | 57.0 | ||||||||||||||||||||
Luxembourg Life Fund—Long Term Growth Fund, Term Loan | (e)(h)(i)(k)(n) | Insurance | L+925 | 0.0 | % | 4/1/23 | $ | 94.6 | 94.1 | 94.5 | ||||||||||||||||||||
NewStar Clarendon 2014-1A Class D | (e)(k)(n) | | Diversified Financials | | 18.3% | 1/25/27 | $ | 30.0 | 9.3 | 15.3 | ||||||||||||||||||||
Pretium Partners LLC P1, Structured Mezzanine | (e)(h)(i) | Real Estate | | 2.8%, 5.3% PIK (5.3% Max PIK) | | 10/22/26 | $ | 18.9 | 18.6 | 19.1 | ||||||||||||||||||||
Sealane Trade Finance | (e)(m) | Banks | L+375 | 0.0 | % | 5/8/23 | $ | 5.0 | 5.0 | 5.0 | ||||||||||||||||||||
Sealane Trade Finance | (e)(m) | Banks | L+963 | 0.0 | % | 5/8/23 | $ | 11.2 | 11.2 | 11.2 | ||||||||||||||||||||
Toorak Capital Partners LLC, Private Equity | (e) | Real Estate | 40,000,000 | 50.2 | 50.4 | |||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||
Total Asset Based Finance | 473.6 | 494.5 | ||||||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||
Equity/Other—5.1% | ||||||||||||||||||||||||||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp, Common Stock | (e)(l)(o) | Energy | 13,556 | 3.6 | 3.1 | |||||||||||||||||||||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp, Trade Claim | (e)(l)(o) | Energy | 115,178,571 | 30.5 | 26.4 | |||||||||||||||||||||||||
Belk Inc, Common Stock | (e)(o) | Retailing | 381 | — | — | |||||||||||||||||||||||||
One Call Care Management Inc, Common Stock | (e)(o) | | Health Care Equipment & Services | | 34,873 | 2.2 | 2.4 | |||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock A | (e)(o) | | Health Care Equipment & Services | | 371,993 | 23.7 | 26.1 | |||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock B | (e) | | Health Care Equipment & Services | | | 9.0% PIK (9.0% Max PIK) | | 10/25/29 | 7,672,346 | 8.8 | 9.2 | |||||||||||||||||||
Zeta Interactive Holdings Corp, Common Stock | (k)(o) | | Software & Services | | 1,766,696 | 15.1 | 14.9 | |||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||
Total Equity/Other | 83.9 | 82.1 | ||||||||||||||||||||||||||||
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|
| |||||||||||||||||||||||||||
TOTAL INVESTMENTS—204.3% | $ | 3,206.2 | $ | 3,260.0 | ||||||||||||||||||||||||||
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| |||||||||||||||||||||||||||
Derivative Instruments—(0.4)% | ||||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
Foreign currency forward contracts | $ | (6.7 | ) | |||||||||||||||||||||||||||
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|
|
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 6. Investment Portfolio (continued)
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Below is selected balance sheet information for COPJV as of March 31,September 30, 2022 and December 31, 2021:
As of | ||||||||
March 31, 2022 (Unaudited) | December 31, 2021 | |||||||
Selected Balance Sheet Information | ||||||||
Total investments, at fair value | $ | 3,772.5 | $ | 3,260.0 | ||||
Cash and other assets | 302.5 | 414.3 | ||||||
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|
|
| |||||
Total assets | 4,075.0 | 3,674.3 | ||||||
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|
| |||||
Debt | 1,669.0 | 1,442.0 | ||||||
Other liabilities | 715.0 | 636.7 | ||||||
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|
| |||||
Total liabilities | 2,384.0 | 2,078.7 | ||||||
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| |||||
Member’s equity | $ | 1,691.0 | $ | 1,595.6 | ||||
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FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 6. Investment Portfolio (continued)
As of December 31, 2021 Selected Balance Sheet Information Total investments, at fair value $ 3,624.5 $ 3,260.0 Cash and other assets 350.1 414.3 Total assets 3,974.6 3,674.3 Debt 1,806.3 1,442.0 Other liabilities 492.8 636.7 Total liabilities 2,299.1 2,078.7 Member's equity $ 1,675.5 $ 1,595.6
Three Months Ended March 31, | ||||||||
2022 | 2021 | |||||||
Selected Statement of Operations Information | ||||||||
Total investment income | $ | 60.9 | $ | 36.1 | ||||
Expenses | ||||||||
Interest expense | 13.6 | 6.0 | ||||||
Custodian and accounting fees | 0.4 | 0.1 | ||||||
Administrative services | 2.4 | 1.0 | ||||||
Professional services | 0.2 | 0.1 | ||||||
Other | 0.1 | 0.1 | ||||||
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| |||||
Total expenses | 16.7 | 7.3 | ||||||
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| |||||
Net investment income | 44.2 | 28.8 | ||||||
Net realized and unrealized gain (loss) | 1.2 | 18.6 | ||||||
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| |||||
Net increase in net assets resulting from operations | $ | 45.4 | $ | 47.4 | ||||
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Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
Selected Statement of Operations Information | ||||||||||||||||||||||||||
Total investment income | $ | 76.7 | $ | 56.6 | $ | 213.4 | $ | 128.8 | ||||||||||||||||||
Expenses | ||||||||||||||||||||||||||
Interest expense | 19.9 | 12.7 | 44.8 | 27.0 | ||||||||||||||||||||||
Custodian and accounting fees | 0.3 | 0.5 | 1.2 | 0.7 | ||||||||||||||||||||||
Administrative services | 2.8 | 2.7 | 7.4 | 4.5 | ||||||||||||||||||||||
Professional services | 0.0 | 0.2 | 0.2 | 0.5 | ||||||||||||||||||||||
Other | 0.0 | 0.2 | 0.1 | 0.3 | ||||||||||||||||||||||
Total expenses | 23.0 | 16.3 | 53.7 | 33.0 | ||||||||||||||||||||||
Net investment income | 53.7 | 40.3 | 159.7 | 95.8 | ||||||||||||||||||||||
Net realized and unrealized gain (loss) | (49.4) | (10.1) | (112.8) | 56.6 | ||||||||||||||||||||||
Net increase in net assets resulting from operations | $ | 4.3 | $ | 30.2 | $ | 46.9 | $ | 152.4 |
Fair Value | ||||||||||
Derivative Instrument | Statement Location | March 31, 2022 (Unaudited) | December 31, 2021 | |||||||
Foreign currency forward contracts | Unrealized appreciation on foreign currency forward contracts | $ | 10 | $9 | ||||||
Foreign currency forward contracts | Unrealized depreciation on foreign currency forward contracts | (1) | (1) | |||||||
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Total | $ | 9 | $ | 8 | ||||||
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FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 7. Financial Instruments (continued)
Fair Value Derivative Instrument Statement Location September 30, 2022 (Unaudited) December 31, 2021 Foreign currency forward contracts Unrealized appreciation on foreign currency forward contracts $ 39 $ 9 Foreign currency forward contracts Unrealized depreciation on foreign currency forward contracts — (1) Total $ 39 $ 8
Net Realized Gains (Losses) | ||||||||||
Three Months Ended March 31, | ||||||||||
Derivative Instrument | Statement Location | 2022 | 2021 | |||||||
Foreign currency forward contracts | Net realized gain (loss) on foreign currency forward contracts | $ | 5 | $ | — | |||||
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Total | $ | 5 | $ | — | ||||||
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Net Unrealized Gains (Losses) | ||||||||||
Three Months Ended March 31, | ||||||||||
Derivative Instrument | Statement Location | 2022 | 2021 | |||||||
Foreign currency forward contracts | Net change in unrealized appreciation (depreciation) on foreign currency forward contracts | $1 | $1 | |||||||
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Total | $1 | $1 | ||||||||
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FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 7. Financial Instruments (continued)
Net Realized Gains (Losses) Nine Months Ended September 30, Derivative Instrument Statement Location 2022 2021 Foreign currency forward contracts Net realized gain (loss) on foreign currency forward contracts $ 9 $ 0 Total $ 9 $ 0
Net Unrealized Gains (Losses) | ||||||||||||||||||||
Nine Months Ended September 30, | ||||||||||||||||||||
Derivative Instrument | Statement Location | 2022 | 2021 | |||||||||||||||||
Foreign currency forward contracts | Net change in unrealized appreciation (depreciation) on foreign currency forward contracts | $ | 31 | $ | 8 | |||||||||||||||
Total | $ | 31 | $ | 8 |
As of March 31, 2022 (Unaudited) | ||||||||||||||||||||
Counterparty | Derivative Assets Subject to Master Netting Agreement | Derivatives Available for Offset | Non-cash Collateral Received(1) | Cash Collateral Received(1) | Net Amount of Derivative Assets(2) | |||||||||||||||
JP Morgan Chase Bank | $ | 10 | $ | (1 | ) | $ | — | $ | — | $ | 9 | |||||||||
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Total | $ | 10 | $ | (1 | ) | $ | — | $ | — | $ | 9 | |||||||||
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Counterparty | Derivative Liabilities Subject to Master Netting Agreement | Derivatives Available for Offset | Non-cash Collateral Pledged(1) | Cash Collateral Pledged(1) | Net Amount of Derivative Liabilities(3) | |||||||||||||||
JP Morgan Chase Bank | $ | (1 | ) | $ | 1 | $ | — | $ | — | $ | — | |||||||||
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Total | $ | (1 | ) | $ | 1 | $ | — | $ | — | $ | — | |||||||||
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As of December 31, 2021 | ||||||||||||||||||||
Counterparty | Derivative Assets Subject to Master Netting Agreement | Derivatives Available for Offset | Non-cash Collateral Received(1) | Cash Collateral Received(1) | Net Amount of Derivative Assets(2) | |||||||||||||||
JP Morgan Chase Bank | $ | 9 | $ | (1 | ) | $ | — | $ | — | $ | 8 | |||||||||
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Total | $ | 9 | $ | (1 | ) | $ | — | $ | — | $ | 8 | |||||||||
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Counterparty | Derivative Liabilities Subject to Master Netting Agreement | Derivatives Available for Offset | Non-cash Collateral Pledged(1) | Cash Collateral Pledged(1) | Net Amount of Derivative Liabilities(3) | |||||||||||||||
JP Morgan Chase Bank | $ | (1 | ) | $ | 1 | $ | — | $ | — | $ | — | |||||||||
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Total | $ | (1 | ) | $ | 1 | $ | — | $ | — | $ | — | |||||||||
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As of September 30, 2022 (Unaudited) Counterparty Derivative Assets Subject to Master Netting Agreement Derivatives Available for Offset JP Morgan Chase Bank $ 39 $ — $ — $ — $ 39 Total $ 39 $ — $ — $ — $ 39 Counterparty Derivative Liabilities Subject to Master Netting Agreement Derivatives Available for Offset JP Morgan Chase Bank $ — $ — $ — $ — $ — Total $ — $ — $ — $ — $ —
As of December 31, 2021 | ||||||||||||||||||||||||||||||||
Counterparty | Derivative Assets Subject to Master Netting Agreement | Derivatives Available for Offset | Non-cash Collateral Received(1) | Cash Collateral Received(1) | Net Amount of Derivative Assets(2) | |||||||||||||||||||||||||||
JP Morgan Chase Bank | $ | 9 | $ | (1) | $ | — | $ | — | $ | 8 | ||||||||||||||||||||||
Total | $ | 9 | $ | (1) | $ | — | $ | — | $ | 8 | ||||||||||||||||||||||
Counterparty | Derivative Liabilities Subject to Master Netting Agreement | Derivatives Available for Offset | Non-cash Collateral Pledged(1) | Cash Collateral Pledged(1) | Net Amount of Derivative Liabilities(3) | |||||||||||||||||||||||||||
JP Morgan Chase Bank | $ | (1) | $ | 1 | $ | — | $ | — | $ | — | ||||||||||||||||||||||
Total | $ | (1) | $ | 1 | $ | — | $ | — | $ | — |
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 8. Fair Value of Financial Instruments (continued)
As of March 31,September 30, 2022 and December 31, 2021, the Company’s investments were categorized as follows in the fair value hierarchy:
Valuation Inputs | March 31, 2022 (Unaudited) | December 31, 2021 | ||||||
Level 1—Price quotations in active markets | $ | 46 | $ | 30 | ||||
Level 2—Significant other observable inputs | 738 | 703 | ||||||
Level 3—Significant unobservable inputs | 14,290 | 13,972 | ||||||
Investments measured at net asset value(1) | 1,480 | 1,396 | ||||||
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$ | 16,554 | $ | 16,101 | |||||
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____________September 30, 2022 Valuation Inputs (Unaudited) December 31, 2021 Level 1—Price quotations in active markets $ 15 $ 30 Level 2—Significant other observable inputs 600 703 Level 3—Significant unobservable inputs 13,711 13,972 1,466 1,396 $ 15,792 $ 16,101
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 8. Fair Value of Financial Instruments (continued)
The following is a reconciliation for the threenine months ended March 31,September 30, 2022 and 2021 of investments for which significant unobservable inputs (Level 3) were used in determining fair value:
For the Three Months Ended March 31, 2022 | ||||||||||||||||||||||||||||
Senior Secured Loans—First Lien | Senior Secured Loans—Second Lien | Other Senior Secured Debt | Subordinated Debt | Asset Based Finance | Equity/ Other | Total | ||||||||||||||||||||||
Fair value at beginning of period | $ | 9,542 | $ | 1,205 | $ | 29 | $ | 74 | $ | 2,245 | $ | 877 | $ | 13,972 | ||||||||||||||
Accretion of discount (amortization of premium) | 22 | 2 | — | — | 3 | — | 27 | |||||||||||||||||||||
Net realized gain (loss) | (71 | ) | (4 | ) | — | — | 16 | 27 | (32 | ) | ||||||||||||||||||
Net change in unrealized appreciation (depreciation) | 2 | (37 | ) | (2 | ) | (40 | ) | (26 | ) | 129 | 26 | |||||||||||||||||
Purchases | 1,166 | 4 | — | — | 556 | 330 | 2,056 | |||||||||||||||||||||
Paid-in-kind interest | 10 | — | — | — | 11 | 11 | 32 | |||||||||||||||||||||
Sales and repayments | (1,006 | ) | (97 | ) | — | — | (627 | ) | (61 | ) | (1,791 | ) | ||||||||||||||||
Transfers into Level 3 | — | — | — | — | — | — | — | |||||||||||||||||||||
Transfers out of Level 3 | — | — | — | — | — | — | — | |||||||||||||||||||||
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Fair value at end of period | $ | 9,665 | $ | 1,073 | $ | 27 | $ | 34 | $ | 2,178 | $ | 1,313 | $ | 14,290 | ||||||||||||||
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The amount of total gains or losses for the period included in changes in net assets attributable to the change in unrealized gains or losses relating to investments still held at the reporting date | $ | (71) | $ | (37) | $ | (2) | $ | (40) | $ | (17) | $ | 161 | $ | (6 | ) | |||||||||||||
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For the Three Months Ended March 31, 2021 | ||||||||||||||||||||||||||||
Senior Secured Loans—First Lien | Senior Secured Loans—Second Lien | Other Senior Secured Debt | Subordinated Debt | Asset Based Finance | Equity/ Other | Total | ||||||||||||||||||||||
Fair value at beginning of period | $ | 3,276 | $ | 862 | $ | 36 | $ | 152 | $ | 951 | $ | 530 | $ | 5,807 | ||||||||||||||
Accretion of discount (amortization of premium) | 1 | 3 | — | — | — | — | 4 | |||||||||||||||||||||
Net realized gain (loss) | 3 | (87 | ) | (23 | ) | — | 1 | (20 | ) | (126 | ) | |||||||||||||||||
Net change in unrealized appreciation (depreciation) | (1 | ) | 94 | 24 | (4 | ) | 5 | 92 | 210 | |||||||||||||||||||
Purchases | 270 | 77 | — | 4 | 40 | — | 391 | |||||||||||||||||||||
Paid-in-kind interest | 3 | 2 | — | — | 6 | 4 | 15 | |||||||||||||||||||||
Sales and repayments | (467 | ) | (256 | ) | (1 | ) | (90 | ) | (55 | ) | (8 | ) | (877 | ) | ||||||||||||||
Transfers into Level 3 | — | — | — | — | — | 3 | 3 | |||||||||||||||||||||
Transfers out of Level 3 | — | — | — | — | — | — | — | |||||||||||||||||||||
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Fair value at end of period | $ | 3,085 | $ | 695 | $ | 36 | $ | 62 | $ | 948 | $ | 601 | $ | 5,427 | ||||||||||||||
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The amount of total gains or losses for the period included in changes in net assets attributable to the change in unrealized gains or losses relating to investments still held at the reporting date | $ | (7 | ) | $ | 10 | $ | — | $ | (4 | ) | $ | 8 | $ | 72 | $ | 79 | ||||||||||||
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For the Nine Months Ended September 30, 2022 Other Senior
Secured
DebtSubordinated
DebtAsset Based Finance Equity/Other Total Fair value at beginning of period $ 9,542 $ 1,205 $ 29 $ 74 $ 2,245 $ 877 $ 13,972 Accretion of discount (amortization of premium) 52 5 — 1 4 1 63 Net realized gain (loss) (61) (41) — — 113 211 222 Net change in unrealized appreciation (depreciation) (252) (90) (8) (47) (229) (121) (747) Purchases 2,297 67 — 223 779 475 3,841 Paid-in-kind interest 36 2 1 3 20 24 86 Sales and repayments (2,017) (225) — — (1,106) (378) (3,726) Transfers into Level 3 — — — — — — — Transfers out of Level 3 — — — — — — — Fair value at end of period $ 9,597 $ 923 $ 22 $ 254 $ 1,826 $ 1,089 $ 13,711 The amount of total gains or losses for the period included in changes in net assets attributable to the change in unrealized gains or losses relating to investments still held at the reporting date $ (326) $ (136) $ (8) $ (45) $ (177) $ (62) $ (754)
For the Nine Months Ended September 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—First Lien | Senior Secured Loans—Second Lien | Other Senior Secured Debt | Subordinated Debt | Asset Based Finance | Equity/Other | Total | ||||||||||||||||||||||||||||||||||||||||||||
Fair value at beginning of period | $ | 3,276 | $ | 862 | $ | 36 | $ | 152 | $ | 951 | $ | 530 | $ | 5,807 | ||||||||||||||||||||||||||||||||||||
Accretion of discount (amortization of premium) | 28 | 8 | — | — | 2 | 1 | 39 | |||||||||||||||||||||||||||||||||||||||||||
Net realized gain (loss) | 35 | (93) | (21) | (7) | 9 | 191 | 114 | |||||||||||||||||||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) | 280 | 158 | 25 | (4) | 126 | 31 | 616 | |||||||||||||||||||||||||||||||||||||||||||
Purchases | 7,907 | 974 | 52 | 8 | 1,217 | 451 | 10,609 | |||||||||||||||||||||||||||||||||||||||||||
Paid-in-kind interest | 12 | 4 | — | — | 29 | 21 | 66 | |||||||||||||||||||||||||||||||||||||||||||
Sales and repayments | (2,197) | (628) | (48) | (93) | (335) | (410) | (3,711) | |||||||||||||||||||||||||||||||||||||||||||
Transfers into Level 3 | — | — | — | — | — | 3 | 3 | |||||||||||||||||||||||||||||||||||||||||||
Transfers out of Level 3 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Fair value at end of period | $ | 9,341 | $ | 1,285 | $ | 44 | $ | 56 | $ | 1,999 | $ | 818 | $ | 13,543 | ||||||||||||||||||||||||||||||||||||
The amount of total gains or losses for the period included in changes in net assets attributable to the change in unrealized gains or losses relating to investments still held at the reporting date | $ | 290 | $ | 84 | $ | (1) | $ | 19 | $ | 125 | $ | 84 | $ | 601 | ||||||||||||||||||||||||||||||||||||
Type of Investment | Fair Value at March 31, 2022 (Unaudited) | Valuation Technique(1) | Unobservable Input | Range (Weighted Average) | Impact to | |||||||||
Senior Debt | $ | 9,404 | Discounted Cash Flow | Discount Rate | | 4.4% - 40.6% (9.0%) | | Decrease | ||||||
693 | Cost | |||||||||||||
613 | Waterfall | EBITDA Multiple | | 1.0x - 11.3x (6.9x) | | Increase | ||||||||
55 | Other(3) | |||||||||||||
Subordinated Debt | 21 | Discounted Cash Flow | Discount Rate | | 10.5% - 10.5% (10.5%) | | Decrease | |||||||
13 | Waterfall | EBITDA Multiple | | 6.8x - 6.8x (6.8x) | | Increase | ||||||||
Asset Based Finance | 920 | Waterfall | EBITDA Multiple | | 1.0x - 22.5x (3.0x) | | Increase | |||||||
913 | Discounted Cash Flow | Discount Rate | | 4.2% - 16.6% (9.8%) | | Decrease | ||||||||
270 | Cost | |||||||||||||
71 | Other(3) | |||||||||||||
4 | Indicative Dealer Quotes | | 50.1% - 50.1% (50.1%) | | Increase | |||||||||
Equity/Other | 670 | Waterfall | EBITDA Multiple | | 0.1x - 16.5x (8.0x) | | Increase | |||||||
329 | Cost | |||||||||||||
193 | Other(3) | |||||||||||||
116 | Discounted Cash Flow | Discount Rate | | 10.0% - 25.0% (12.8%) | | Decrease | ||||||||
5 | Option Pricing Model | Equity Illiquidity Discount | | 65.0% - 65.0% (65.0%) | | Decrease | ||||||||
|
| |||||||||||||
Total | $ | 14,290 | ||||||||||||
|
|
Type of Investment | Fair Value at September 30, 2022 (Unaudited) | Valuation Technique(1) | Unobservable Input | Range (Weighted Average) | Impact to Valuation from an Increase in Input(2) | |||||||||||||||||||||||||||
Senior Debt | $ | 9,513 | Discounted Cash Flow | Discount Rate | 5.5% - 21.1% (11.0%) | Decrease | ||||||||||||||||||||||||||
580 | Waterfall | EBITDA Multiple | 0.3x - 21.3x (6.7x) | Increase | ||||||||||||||||||||||||||||
341 | Cost | |||||||||||||||||||||||||||||||
108 | Other(3) | |||||||||||||||||||||||||||||||
Subordinated Debt | 237 | Discounted Cash Flow | Discount Rate | 10.9% - 15.5% (12.6%) | Decrease | |||||||||||||||||||||||||||
17 | Waterfall | EBITDA Multiple | 5.8x - 5.8x (5.8x) | Increase | ||||||||||||||||||||||||||||
Asset Based Finance | 859 | Discounted Cash Flow | Discount Rate | 4.8% - 44.1% (10.3%) | Decrease | |||||||||||||||||||||||||||
686 | Waterfall | EBITDA Multiple | 1.0x - 21.8x (3.4x) | Increase | ||||||||||||||||||||||||||||
197 | Other(3) | |||||||||||||||||||||||||||||||
80 | Cost | |||||||||||||||||||||||||||||||
4 | Indicative Dealer Quotes | 41.8% - 41.8% (41.8%) | Increase | |||||||||||||||||||||||||||||
Equity/Other | 599 | Waterfall | EBITDA Multiple | 0.0x - 15.0x (7.6x) | Increase | |||||||||||||||||||||||||||
352 | Discounted Cash Flow | Discount Rate | 9.8% - 25.0% (14.6%) | Decrease | ||||||||||||||||||||||||||||
127 | Cost | |||||||||||||||||||||||||||||||
8 | Other(3) | |||||||||||||||||||||||||||||||
3 | Option Pricing Model | Equity Illiquidity Discount | 65.0% - 65.0% (65.0%) | Decrease | ||||||||||||||||||||||||||||
Total | $ | 13,711 |
Type of Investment | Fair Value at December 31, 2021 | Valuation Technique(1) | Unobservable Input | Range | Impact to | |||||||||
Senior Debt | $ | 8,746 | Discounted Cash Flow | Discount Rate | | 5.3% - 30.3% (8.5%) | | Decrease | ||||||
1,242 | Cost | |||||||||||||
737 | Waterfall | EBITDA Multiple | | 0.1x - 11.0x (7.0x) | | Increase | ||||||||
51 | Other(3) | |||||||||||||
Subordinated Debt | 53 | Waterfall | EBITDA Multiple | | 7.0x - 7.8x (7.8x) | | Increase | |||||||
21 | Cost | |||||||||||||
Asset Based Finance | 1,021 | Waterfall | EBITDA Multiple | | 1.0x - 23.1x (4.1x) | | Increase | |||||||
744 | Discounted Cash Flow | Discount Rate | | 4.2% - 16.2% (10.1%) | | Decrease | ||||||||
359 | Cost | |||||||||||||
117 | Other(3) | |||||||||||||
4 | Indicative Dealer Quotes | | 50.8% - 50.8% (50.8%) | | Increase | |||||||||
Equity/Other | 737 | Waterfall | EBITDA Multiple | | 0.1x - 16.0x (6.1x) | | Increase | |||||||
111 | Discounted Cash Flow | Discount Rate | | 7.3% - 25.0% (9.8%) | | Decrease | ||||||||
5 | Option Pricing Model | Equity Illiquidity Discount | | 65.0% - 65.0% (65.0%) | | Decrease | ||||||||
22 | Other(3) | |||||||||||||
2 | Cost | |||||||||||||
|
| |||||||||||||
Total | $ | 13,972 | ||||||||||||
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|
| ||||||||||||||||||||||||||||||||
Type of | Fair Value at December 31, 2021 | Valuation Technique(1) | Unobservable Input | Range | Impact to |
| ||||||||||||||||||||||||||||||||
Senior Debt | $ | 8,746 | Discounted Cash Flow | Discount Rate | 5.3% - 30.3% (8.5%) | Decrease | ||||||||||||||||||||||||||
1,242 | Cost | |||||||||||||||||||||||||||||||
737 | Waterfall | EBITDA Multiple | 0.1x - 11.0x (7.0x) | Increase | ||||||||||||||||||||||||||||
51 | Other(3) | |||||||||||||||||||||||||||||||
Subordinated Debt | 53 | Waterfall | EBITDA Multiple | 7.0x - 7.8x (7.8x) | Increase | |||||||||||||||||||||||||||
21 | Cost | |||||||||||||||||||||||||||||||
Asset Based Finance | 1,021 | Waterfall | EBITDA Multiple | 1.0x - 23.1x (4.1x) | Increase | |||||||||||||||||||||||||||
744 | Discounted Cash Flow | Discount Rate | 4.2% - 16.2% (10.1%) | Decrease | ||||||||||||||||||||||||||||
359 | Cost | |||||||||||||||||||||||||||||||
117 | Other(3) | |||||||||||||||||||||||||||||||
4 | Indicative Dealer Quotes | 50.8% - 50.8% (50.8%) | Increase | |||||||||||||||||||||||||||||
Equity/Other | 737 | Waterfall | EBITDA Multiple | 0.1x - 16.0x (6.1x) | Increase | |||||||||||||||||||||||||||
111 | Discounted Cash Flow | Discount Rate | 7.3% - 25.0% (9.8%) | Decrease | ||||||||||||||||||||||||||||
5 | Option Pricing Model | Equity Illiquidity Discount | 65.0% - 65.0% (65.0%) | Decrease | ||||||||||||||||||||||||||||
22 | Other(3) | |||||||||||||||||||||||||||||||
2 | Cost | |||||||||||||||||||||||||||||||
Total | $ | 13,972 |
|
(1)Investments using a market quotes valuation technique were primarily valued by using the midpoint of the prevailing bid and ask prices from dealers on the date of the relevant period end, which were provided by independent third-party pricing services and screened for validity by such services. Investments valued using an EBITDA multiple or a revenue multiple pursuant to the market comparables valuation technique may be conducted using an enterprise valuation waterfall analysis.
As of March 31, 2022 (Unaudited) | ||||||||||||||
Arrangement | Type of Arrangement | Rate | Amount Outstanding | Amount Available | Maturity Date | |||||||||
Ambler Credit Facility(2)(9) | Revolving Credit Facility | SOFR+2.15%(1) | $ | 161 | $ | 39 | November 22, 2025 | |||||||
Burholme Prime Brokerage Facility(2)(9) | Prime Brokerage Facility | L+1.25%(1) | — | — | September 26, 2022 | |||||||||
CCT Tokyo Funding Credit Facility(2) | Revolving Credit Facility | L+1.75% - 2.00%(1)(3) | 300 | — | January 2, 2025 | |||||||||
Darby Creek Credit Facility(2)(9) | Revolving Credit Facility | L+1.85%(1) | 250 | — | February 26, 2025 | |||||||||
Dunlap Credit Facility(2)(9) | Revolving Credit Facility | L+1.85%(1) | 500 | — | February 26, 2025 | |||||||||
Meadowbrook Run Credit Facility(2)(8) | Revolving Credit Facility | SOFR+2.05%(1) | 275 | 25 | November 22, 2024 | |||||||||
Senior Secured Revolving Credit Facility(2) | Revolving Credit Facility | L+1.75% - 2.00%(1) SONIA+0.0326%(1)(4) | 2,846 | (5) | 1,345 | (6) | December 23, 2025 | |||||||
4.750% Notes due 2022(7) | Unsecured Notes | 4.75% | 450 | — | May 15, 2022 | |||||||||
4.625% Notes due 2024(7) | Unsecured Notes | 4.63% | 400 | — | July 15, 2024 | |||||||||
1.650% Notes due 2024(7) | Unsecured Notes | 1.65% | 500 | — | October 12, 2024 | |||||||||
4.125% Notes due 2025(7) | Unsecured Notes | 4.13% | 470 | — | February 1, 2025 | |||||||||
4.250% Notes due 2025(7)(9) | Unsecured Notes | 4.25% | 475 | — | February 14, 2025 | |||||||||
8.625% Notes due 2025(7) | Unsecured Notes | 8.63% | 250 | — | May 15, 2025 | |||||||||
3.400% Notes due 2026(7) | Unsecured Notes | 3.40% | 1,000 | — | January 15, 2026 | |||||||||
2.625% Notes due 2027(7) | Unsecured Notes | 2.63% | 400 | — | January 15, 2027 | |||||||||
3.250% Notes due 2027(7) | Unsecured Notes | 3.25% | 500 | — | July 15, 2027 | |||||||||
3.125% Notes due 2028(7) | Unsecured Notes | 3.13% | 750 | — | October 12, 2028 | |||||||||
CLO-1 Notes(2)(8) | Collateralized Loan Obligation | L+1.85% - 3.01%(1) | 352 | — | January 15, 2031 | |||||||||
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Total | $ | 9,879 | $ | 1,409 |
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Arrangement Type of Arrangement Rate Amount
OutstandingAmount
AvailableMaturity Date Revolving Credit Facility $ 144 $ 56 November 22, 2025 Prime Brokerage Facility — — March 28, 2023 Revolving Credit Facility 290 10 June 2, 2025 Revolving Credit Facility 243 7 February 26, 2025 Revolving Credit Facility 478 22 February 26, 2025 Revolving Credit Facility 259 41 November 22, 2024 Revolving Credit Facility May 17, 2027 Unsecured Notes 4.63% 400 — July 15, 2024 Unsecured Notes 1.65% 500 — October 12, 2024 Unsecured Notes 4.13% 470 — February 1, 2025 Unsecured Notes 4.25% 475 — February 14, 2025 Unsecured Notes 8.63% 250 — May 15, 2025 Unsecured Notes 3.40% 1,000 — January 15, 2026 Unsecured Notes 2.63% 400 — January 15, 2027 Unsecured Notes 3.25% 500 — July 15, 2027 Unsecured Notes 3.13% 750 — October 12, 2028 Collateralized Loan Obligation 352 — January 15, 2031 Total $ 9,176 $ 2,114
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As of December 31, 2021 | ||||||||||||||
Arrangement | Type of Arrangement | Rate | Amount Outstanding | Amount Available | Maturity Date | |||||||||
Ambler Credit Facility(2)(9) | Revolving Credit Facility | SOFR+2.15%(1) | $ | 150 | $ | 50 | November 22, 2025 | |||||||
Burholme Prime Brokerage Facility(2)(9) | Prime Brokerage Facility | L+1.25%(1) | — | — | June 28, 2022 | |||||||||
CCT Tokyo Funding Credit Facility(2) | Revolving Credit Facility | L+1.75% - 2.00%(1)(3) | 300 | — | January 2, 2025 | |||||||||
Darby Creek Credit Facility(2)(9) | Revolving Credit Facility | L+1.85%(1) | 250 | — | February 26, 2025 | |||||||||
Dunlap Credit Facility(2)(9) | Revolving Credit Facility | L+1.85%(1) | 485 | 15 | February 26, 2025 | |||||||||
Meadowbrook Run Credit Facility(2)(9) | Revolving Credit Facility | SOFR+2.05%(1) | 300 | — | November 22, 2024 | |||||||||
Senior Secured Revolving Credit Facility(2) | Revolving Credit Facility | L+1.75% - 2.00%(1)(4) SONIA + 0.0326%(1)(4) | 2,647 | (5) | 1,544 | (6) | December 23, 2025 | |||||||
4.750% Notes due 2022(7) | Unsecured Notes | 4.75% | 450 | — | May 15, 2022 | |||||||||
4.625% Notes due 2024(7) | Unsecured Notes | 4.63% | 400 | — | July 15, 2024 | |||||||||
1.650% Notes due 2024(7) | Unsecured Notes | 1.65% | 500 | — | October 12, 2024 | |||||||||
4.125% Notes due 2025(7) | Unsecured Notes | 4.13% | 470 | — | February 1, 2025 | |||||||||
4.250% Notes due 2025(7)(9) | Unsecured Notes | 4.25% | 475 | — | February 14, 2025 | |||||||||
8.625% Notes due 2025(7) | Unsecured Notes | 8.63% | 250 | — | May 15, 2025 | |||||||||
3.400% Notes due 2026(7) | Unsecured Notes | 3.40% | 1,000 | — | January 15, 2026 | |||||||||
2.625% Notes due 2027(7) | Unsecured Notes | 2.63% | 400 | — | January 15, 2027 | |||||||||
3.125% Notes due 2028(7) | Unsecured Notes | 3.13% | 750 | — | October 12, 2028 | |||||||||
CLO-1 Notes(2)(8) | Collateralized Loan Obligation | L+1.85% - 3.01%(1) | 352 | — | January 15, 2031 | |||||||||
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Total | $ | 9,179 | $ | 1,609 |
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(7)As of September 30, 2022, the fair value of the 4.625% notes, the 1.650% notes, the 4.125% notes, the 4.250% notes, the 8.625% notes, the 3.400% notes, the 2.625% notes, the 3.250% notes and the 3.125% notes was approximately $392, $457, $445, $441, $258, $883, $323, $413 and $583, respectively. These valuations are considered Level 2 valuations within the fair value hierarchy.
As of December 31, 2021 | ||||||||||||||||||||||||||||||||
Arrangement | Type of Arrangement | Rate | Amount Outstanding | Amount Available | Maturity Date | |||||||||||||||||||||||||||
Ambler Credit Facility(2)(9) | Revolving Credit Facility | SOFR+2.15%(1) | $ | 150 | $ | 50 | November 22, 2025 | |||||||||||||||||||||||||
Burholme Prime Brokerage Facility(2)(9) | Prime Brokerage Facility | L+1.25%(1) | — | — | June 28, 2022 | |||||||||||||||||||||||||||
CCT Tokyo Funding Credit Facility(2) | Revolving Credit Facility | L+1.75% - 2.00%(1)(3) | 300 | — | January 2, 2025 | |||||||||||||||||||||||||||
Darby Creek Credit Facility(2)(9) | Revolving Credit Facility | L+1.85%(1) | 250 | — | February 26, 2025 | |||||||||||||||||||||||||||
Dunlap Credit Facility(2)(9) | Revolving Credit Facility | L+1.85%(1) | 485 | 15 | February 26, 2025 | |||||||||||||||||||||||||||
Meadowbrook Run Credit Facility(2)(9) | Revolving Credit Facility | SOFR+2.05%(1) | 300 | — | November 22, 2024 | |||||||||||||||||||||||||||
Senior Secured Revolving Credit Facility(2) | Revolving Credit Facility | L+1.75% - 2.00%(1)(4) SONIA+0.0326%(1)(4) | 2,647(5) | 1,544(6) | December 23, 2025 | |||||||||||||||||||||||||||
4.750% Notes due 2022(7) | Unsecured Notes | 4.75% | 450 | — | May 15, 2022 | |||||||||||||||||||||||||||
4.625% Notes due 2024(7) | Unsecured Notes | 4.63% | 400 | — | July 15, 2024 | |||||||||||||||||||||||||||
1.650% Notes due 2024(7) | Unsecured Notes | 1.65% | 500 | — | October 12, 2024 | |||||||||||||||||||||||||||
4.125% Notes due 2025(7) | Unsecured Notes | 4.13% | 470 | — | February 1, 2025 | |||||||||||||||||||||||||||
4.250% Notes due 2025(7)(9) | Unsecured Notes | 4.25% | 475 | — | February 14, 2025 | |||||||||||||||||||||||||||
8.625% Notes due 2025(7) | Unsecured Notes | 8.63% | 250 | — | May 15, 2025 | |||||||||||||||||||||||||||
3.400% Notes due 2026(7) | Unsecured Notes | 3.40% | 1,000 | — | January 15, 2026 | |||||||||||||||||||||||||||
2.625% Notes due 2027(7) | Unsecured Notes | 2.63% | 400 | — | January 15, 2027 | |||||||||||||||||||||||||||
3.125% Notes due 2028(7) | Unsecured Notes | 3.13% | 750 | — | October 12, 2028 | |||||||||||||||||||||||||||
CLO-1 Notes(2)(8) | Collateralized Loan Obligation | L+1.85% - 3.01%(1) | 352 | — | January 15, 2031 | |||||||||||||||||||||||||||
Total | $ | 9,179 | $ | 1,609 |
Three Months Ended March 31, | ||||||||||||||||||||||||
2022 | 2021 | |||||||||||||||||||||||
Arrangement(1) | Direct Interest Expense | Amortization of Deferred Financing Costs and Discount / Premium | Total Interest Expense | Direct Interest Expense | Amortization of Deferred Financing Costs and Discount / Premium | Total Interest Expense | ||||||||||||||||||
Ambler Credit Facility(2) | $ | 1 | $ | 0 | $ | 1 | $ | — | $ | — | $ | — | ||||||||||||
Burholme Prime Brokerage Facility(2) | — | — | — | — | — | — | ||||||||||||||||||
CCT Tokyo Funding Credit Facility(2) | 2 | 0 | 2 | 1 | 0 | 1 | ||||||||||||||||||
Darby Creek Credit Facility(2) | 1 | 0 | 1 | — | — | — | ||||||||||||||||||
Dunlap Credit Facility(2) | 3 | 0 | 3 | — | — | — | ||||||||||||||||||
Meadowbrook Run Credit Facility(2) | 2 | 0 | 2 | — | — | — | ||||||||||||||||||
Senior Secured Revolving Credit Facility(2) | 16 | 1 | 17 | 4 | 1 | 5 | ||||||||||||||||||
4.750% Notes due 2022 | 6 | 0 | 6 | 5 | 0 | 5 | ||||||||||||||||||
5.000% Notes due 2022 | — | — | — | 3 | — | 3 | ||||||||||||||||||
4.625% Notes due 2024 | 4 | 0 | 4 | 5 | 0 | 5 | ||||||||||||||||||
1.650% Notes due 2024 | 2 | 1 | 3 | — | — | — | ||||||||||||||||||
4.125% Notes due 2025 | 5 | 0 | 5 | 5 | 0 | 5 | ||||||||||||||||||
4.250% Notes due 2025 | 5 | (1 | ) | 4 | — | — | — | |||||||||||||||||
8.625% Notes due 2025 | 5 | 1 | 6 | 5 | 0 | 5 | ||||||||||||||||||
3.400% Notes due 2026 | 9 | 1 | 10 | 9 | 2 | 11 | ||||||||||||||||||
2.625% Notes due 2027 | 2 | 0 | 2 | — | — | — | ||||||||||||||||||
3.250% Notes due 2027 | 3 | 0 | 3 | — | — | — | ||||||||||||||||||
3.125% Notes due 2028 | 6 | 0 | 6 | — | — | — | ||||||||||||||||||
CLO-1 Notes | 2 | 0 | 2 | 2 | 0 | 2 | ||||||||||||||||||
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Total | $ | 74 | $ | 3 | $ | 77 | $ | 39 | $ | 3 | $ | 42 | ||||||||||||
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Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||||||||
2022 | 2021 | |||||||||||||||||||||||||||||||||||||
Arrangement(1) | Direct Interest Expense | Amortization of Deferred Financing Costs and Discount / Premium | Total Interest Expense | Direct Interest Expense | Amortization of Deferred Financing Costs and Discount / Premium | Total Interest Expense | ||||||||||||||||||||||||||||||||
Ambler Credit Facility(2) | $ | 4 | $ | 0 | $ | 4 | $ | 1 | $ | 0 | $ | 1 | ||||||||||||||||||||||||||
Burholme Prime Brokerage Facility(2) | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||
CCT Tokyo Funding Credit Facility(2) | 7 | 1 | 8 | 3 | 0 | 3 | ||||||||||||||||||||||||||||||||
Darby Creek Credit Facility(2) | 6 | 0 | 6 | 2 | — | 2 | ||||||||||||||||||||||||||||||||
Dunlap Credit Facility(2) | 12 | 0 | 12 | 3 | — | 3 | ||||||||||||||||||||||||||||||||
Juniata River Credit Facility(2) | — | — | — | 6 | — | 6 | ||||||||||||||||||||||||||||||||
Meadowbrook Run Credit Facility(2) | 6 | 0 | 6 | 3 | — | 3 | ||||||||||||||||||||||||||||||||
Senior Secured Revolving Credit Facility(2) | 69 | 3 | 72 | 23 | 2 | 25 | ||||||||||||||||||||||||||||||||
4.750% Notes due 2022 | 6 | 0 | 6 | 16 | 0 | 16 | ||||||||||||||||||||||||||||||||
5.000% Notes due 2022 | — | — | — | 9 | — | 9 | ||||||||||||||||||||||||||||||||
4.625% Notes due 2024 | 14 | 1 | 15 | 14 | 1 | 15 | ||||||||||||||||||||||||||||||||
1.650% Notes due 2024 | 6 | 2 | 8 | — | — | — | ||||||||||||||||||||||||||||||||
4.125% Notes due 2025 | 15 | 1 | 16 | 15 | 1 | 16 | ||||||||||||||||||||||||||||||||
4.250% Notes due 2025 | 15 | (5) | 10 | 6 | (2) | 4 | ||||||||||||||||||||||||||||||||
8.625% Notes due 2025 | 16 | 1 | 17 | 16 | 1 | 17 | ||||||||||||||||||||||||||||||||
3.400% Notes due 2026 | 25 | 4 | 29 | 25 | 4 | 29 | ||||||||||||||||||||||||||||||||
2.625% Notes due 2027 | 7 | 1 | 8 | 3 | 0 | 3 | ||||||||||||||||||||||||||||||||
3.250% Notes due 2027 | 11 | 1 | 12 | — | — | — | ||||||||||||||||||||||||||||||||
3.125% Notes due 2028 | 18 | 1 | 19 | — | — | — | ||||||||||||||||||||||||||||||||
CLO-1 Notes | 8 | 0 | 8 | 6 | 0 | 6 | ||||||||||||||||||||||||||||||||
Total | $ | 245 | $ | 11 | $ | 256 | $ | 151 | $ | 7 | $ | 158 |
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 9. Financing Arrangements (continued)
Under its financing arrangements, the Company has made certain representations and warranties and is required to comply with various covenants, reporting requirements and other customary requirements for similar financing arrangements. The Company was in compliance with all covenants required by its financing arrangements as of March 31,September 30, 2022 and December 31, 2021.
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 10. Commitments and Contingencies (continued)
legal proceedings cannot be predicted with certainty, the Company does not expect that any such proceedings will have a material effect upon its financial condition or results of operations.
Category / Company(1) | Commitment Amount | |||
Senior Secured Loans—First Lien | ||||
3Pillar Global Inc | $ | 9.2 | ||
3Pillar Global Inc | 30.6 | |||
48Forty Solutions LLC | 6.4 | |||
Advanced Dermatology & Cosmetic Surgery | 3.6 | |||
Advanced Dermatology & Cosmetic Surgery | 2.5 | |||
Advania Sverige AB | 37.5 | |||
Affordable Care Inc | 12.8 | |||
Affordable Care Inc | 43.1 | |||
Alacrity Solutions Group LLC | 10.1 | |||
Alera Group Intermediate Holdings Inc | 22.9 | |||
American Vision Partners | 7.8 | |||
American Vision Partners | 38.9 | |||
Amerivet Partners Management Inc | 8.4 | |||
Amerivet Partners Management Inc | 67.3 | |||
Arcfield Acquisition Corp | 7.1 | |||
Arcos LLC/VA | 4.5 | |||
Ardonagh Group Ltd | 22.8 | |||
athenahealth Inc | 1.2 | |||
AxiomSL Ltd | 2.4 | |||
AxiomSL Ltd | 2.3 | |||
Barbri Inc | 14.8 | |||
BGB Group LLC | 19.9 | |||
Clarience Technologies LLC | 23.3 | |||
Clarience Technologies LLC | 10.8 | |||
Community Brands Inc | 3.8 | |||
Community Brands Inc | 1.9 | |||
Corsearch Intermediate Inc | 4.4 | |||
CSafe Global | 34.9 | |||
Dental Care Alliance Inc | 12.3 | |||
Encora Digital Inc | 19.4 | |||
Entertainment Benefits Group LLC | 9.6 | |||
Follett Software Co | 9.9 | |||
Foundation Consumer Brands LLC | 6.6 | |||
Foundation Risk Partners Corp | 6.9 |
Category / Company(1) | Commitment Amount | ||||||||||
Senior Secured Loans—First Lien | |||||||||||
3Pillar Global Inc | $ | 9.2 | |||||||||
3Pillar Global Inc | 24.9 | ||||||||||
48Forty Solutions LLC | 3.2 | ||||||||||
Advanced Dermatology & Cosmetic Surgery | 3.6 | ||||||||||
Advanced Dermatology & Cosmetic Surgery | 2.2 | ||||||||||
Affordable Care Inc | 12.8 | ||||||||||
Affordable Care Inc | 33.2 | ||||||||||
Alacrity Solutions Group LLC | 7.7 | ||||||||||
Alera Group Intermediate Holdings Inc | 5.6 | ||||||||||
American Vision Partners | 7.8 | ||||||||||
Amerivet Partners Management Inc | 7.6 | ||||||||||
Amerivet Partners Management Inc | 61.4 | ||||||||||
Arcfield Acquisition Corp | 7.1 | ||||||||||
Arcos LLC/VA | 4.5 | ||||||||||
Ardonagh Group Ltd | 22.8 | ||||||||||
AxiomSL Ltd | 2.4 | ||||||||||
AxiomSL Ltd | 2.3 | ||||||||||
Barbri Inc | 9.1 | ||||||||||
BGB Group LLC | 19.9 | ||||||||||
CFC Underwriting Ltd | 5.7 | ||||||||||
Clarience Technologies LLC | 23.6 | ||||||||||
Community Brands Inc | 3.8 | ||||||||||
Community Brands Inc | 1.9 | ||||||||||
Corsearch Intermediate Inc | 4.4 | ||||||||||
CSafe Global | 34.9 | ||||||||||
Dental Care Alliance Inc | 6.1 | ||||||||||
Encora Digital Inc | 19.4 | ||||||||||
Envirotainer Ltd | 2.7 | ||||||||||
Excelitas Technologies Corp | 1.4 | ||||||||||
Excelitas Technologies Corp | 4.7 | ||||||||||
Follett Software Co | 9.9 | ||||||||||
Foundation Consumer Brands LLC | 6.6 | ||||||||||
Foundation Risk Partners Corp | 6.6 | ||||||||||
Galway Partners Holdings LLC | 11.8 | ||||||||||
Galway Partners Holdings LLC | 7.1 | ||||||||||
Gigamon Inc | 9.3 |
| Commitment Amount | ||||||||||
| |||||||||||
| |||||||||||
| |||||||||||
| |||||||||||
Heniff Transportation Systems LLC | $ | ||||||||||
Higginbotham Insurance Agency Inc | 8.9 | ||||||||||
HKA | 1.1 | ||||||||||
HM Dunn Co Inc | 2.0 | ||||||||||
Individual FoodService | 4.7 | ||||||||||
Individual FoodService | 1.8 | ||||||||||
Insight Global LLC | 21.1 | ||||||||||
Insight Global LLC | 26.8 | ||||||||||
| |||||||||||
J S Held LLC | 12.4 | ||||||||||
J S Held LLC | 21.0 | ||||||||||
Karman Space Inc | 0.3 | ||||||||||
Lakefield Veterinary Group | 40.0 | ||||||||||
Lakeview Farms Inc | 10.8 | ||||||||||
Lakeview Farms Inc | 1.8 | ||||||||||
Lexitas Inc | 8.4 | ||||||||||
Lexitas Inc | 5.9 | ||||||||||
| 12.6 | ||||||||||
| 25.0 | ||||||||||
Med-Metrix | 7.8 | ||||||||||
| |||||||||||
Monitronics International Inc | 11.6 | ||||||||||
Motion Recruitment Partners LLC | 59.6 | ||||||||||
Net Documents | 7.3 | ||||||||||
Net Documents | 0.9 | ||||||||||
New Era Technology Inc | 2.6 | ||||||||||
| |||||||||||
Novotech Pty Ltd | 5.6 | ||||||||||
NPD Group Inc/The | 1.0 | ||||||||||
Oxford Global Resources LLC | 15.3 | ||||||||||
Oxford Global Resources LLC | 4.4 | ||||||||||
P2 Energy Solutions Inc. | 11.4 | ||||||||||
| 4.2 | ||||||||||
| 22.6 | ||||||||||
| |||||||||||
| |||||||||||
| |||||||||||
Revere Superior Holdings Inc | 1.7 | ||||||||||
| |||||||||||
Rise Baking Company | 1.6 | ||||||||||
RSC Insurance Brokerage Inc | 7.6 | ||||||||||
| 1.8 | ||||||||||
SavATree LLC | 6.3 | ||||||||||
SavATree LLC | 6.3 | ||||||||||
Source Code LLC | 15.0 | ||||||||||
Spins LLC | 16.5 | ||||||||||
Spins LLC | 7.9 | ||||||||||
Summit Interconnect Inc | 9.4 | ||||||||||
Sungard Availability Services Capital Inc | 1.7 | ||||||||||
Sweeping Corp of America Inc | 5.7 | ||||||||||
Time Manufacturing Co | 16.4 | ||||||||||
Version1 Software Ltd | 2.4 | ||||||||||
VetCor Professional Practices LLC | 18.0 | ||||||||||
VetCor Professional Practices LLC | 6.6 | ||||||||||
Wealth Enhancement Group LLC | 5.7 | ||||||||||
Wealth Enhancement Group LLC | 2.1 | ||||||||||
Woolpert Inc | 3.7 |
Category / Company(1) | Commitment Amount | |||
SAMBA Safety Inc | 1.8 | |||
SAMBA Safety Inc | 6.1 | |||
SavATree LLC | 7.6 | |||
SavATree LLC | 6.3 | |||
Source Code LLC | 15.0 | |||
Spins LLC | 16.5 | |||
Spins LLC | 7.9 | |||
Summit Interconnect Inc | 48.7 | |||
Sweeping Corp of America Inc | 3.1 | |||
Sweeping Corp of America Inc | 5.6 | |||
Time Manufacturing Co | 13.7 | |||
Time Manufacturing Co | 14.7 | |||
Wealth Enhancement Group LLC | 10.8 | |||
Wealth Enhancement Group LLC | 1.3 | |||
Woolpert Inc | 3.7 | |||
Worldwise Inc | 42.2 | |||
Worldwise Inc | 14.2 | |||
Senior Secured Loans—Second Lien | ||||
Valeo Foods Group Ltd | 7.2 | |||
Asset Based Finance | ||||
Byrider Finance LLC, Structured Mezzanine | 13.6 | |||
Callodine Commercial Finance LLC, 2L Term Loan B | 40.3 | |||
Home Partners JV 2, Structured Mezzanine | 11.9 | |||
Jet Edge International LLC, Term Loan | 0.7 | |||
Opendoor Labs Inc, Structured Mezzanine | 88.9 | |||
Roemanu LLC (FKA Toorak Capital Partners LLC), Structured Mezzanine | 6.0 | |||
|
| |||
Total | $ | 1,584.1 | ||
|
| |||
Unfunded Asset Based Finance/Other commitments | $ | 497.8 |
| |||||||||||
Category / Company(1) | Commitment Amount | ||||||||||
Worldwise Inc | $ | 15.5 | |||||||||
Worldwise Inc | 7.4 | ||||||||||
Senior Secured Loans—Second Lien | |||||||||||
Valeo Foods Group Ltd | 3.1 | ||||||||||
Asset Based Finance | |||||||||||
Byrider Finance LLC, Structured Mezzanine | 12.4 | ||||||||||
Callodine Commercial Finance LLC, 2L Term Loan B | 36.1 | ||||||||||
Jet Edge International LLC, Term Loan | 0.7 | ||||||||||
Opendoor Labs Inc, Structured Mezzanine | 53.4 | ||||||||||
Total | $ | 1,042.4 | |||||||||
Unfunded Asset Based Finance/Other commitments | $ | 362.8 |
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 10. Commitments and Contingencies (continued)
As of March 31,September 30, 2022, the Company also has an unfunded commitment to provide $262.7$560.2 of capital to COPJV. The capital commitment can be satisfied with contributions of cash and/or investments. The capital commitments cannot be drawn without an affirmative vote by both the Company’s and SCRS’s representatives on COPJV’s board of managers.
Three Months Ended March 31, 2022 (Unaudited) | Year Ended December 31, 2021 | |||||||
Per Share Data:(1) | ||||||||
Net asset value, beginning of period | $ | 27.17 | $ | 25.02 | ||||
Results of operations(2) | ||||||||
Net investment income (loss) | 0.77 | 2.76 | ||||||
Net realized gain (loss) and unrealized appreciation (depreciation) | 0.01 | 4.28 | ||||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from operations | 0.78 | 7.04 | ||||||
|
|
|
| |||||
Stockholder distributions(3) | ||||||||
Distributions from net investment income | (0.63 | ) | (2.47 | ) | ||||
Distributions from net realized gain on investments | — | — | ||||||
|
|
|
| |||||
Net decrease in net assets resulting from stockholder distributions | (0.63 | ) | (2.47 | ) | ||||
|
|
|
| |||||
Capital share transactions | ||||||||
Issuance of common stock(4) | — | (2.20 | ) | |||||
Repurchases of common stock(5) | 0.01 | 0.01 | ||||||
Deduction of deferred costs(6) | — | (0.23 | ) | |||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from capital share transactions | 0.01 | (2.42 | ) | |||||
|
|
|
| |||||
Net asset value, end of period | $ | 27.33 | $ | 27.17 | ||||
|
|
|
| |||||
Per share market value, end of period | $ | 22.82 | $ | 20.94 | ||||
|
|
|
| |||||
Shares outstanding, end of period | 284,138,163 | 284,543,091 | ||||||
|
|
|
| |||||
Total return based on net asset value(7) | 2.91 | % | 18.47 | % | ||||
|
|
|
| |||||
Total return based on market value(8) | 11.97 | % | 41.45 | % | ||||
|
|
|
|
Nine Months Ended September 30, 2022 Year Ended December 31, 2021 (Unaudited) Net asset value, beginning of period $ 27.17 $ 25.02 Net investment income (loss) 2.25 2.76 Net realized gain (loss) and unrealized appreciation (depreciation) (2.17) 4.28 Net increase (decrease) in net assets resulting from operations 0.08 7.04 Distributions from net investment income (1.98) (2.47) Distributions from net realized gain on investments — — Net decrease in net assets resulting from stockholder distributions (1.98) (2.47) Capital share transactions — (2.20) 0.03 0.01 — (0.23) Net increase (decrease) in net assets resulting from capital share transactions 0.03 (2.42) Net asset value, end of period $ 25.30 $ 27.17 Per share market value, end of period $ 16.95 $ 20.94 Shares outstanding, end of period 282,978,008 284,543,091 0.40 % 18.47 % (10.94) % 41.45 % Ratio/Supplemental Data: Net assets, end of period $ 7,160 $ 7,730 11.08 % 10.36 % 10.27 % 9.35 % 9.49 % 8.82 % 21.48 % 49.82 % Total amount of senior securities outstanding, exclusive of treasury securities $ 9,176 $ 9,179 1.78 1.84
Three Months Ended March 31, 2022 (Unaudited) | Year Ended December 31, 2021 | |||||||
Ratio/Supplemental Data: | ||||||||
Net assets, end of period | $ | 7,767 | $ | 7,730 | ||||
Ratio of net investment income to average net assets(9) | 11.32 | % | 10.36 | % | ||||
Ratio of total operating expenses to average net assets(9) | 9.83 | % | 9.35 | % | ||||
Ratio of net operating expenses to average net assets(9) | 9.05 | % | 8.82 | % | ||||
Portfolio turnover(10) | 10.11 | % | 49.82 | % | ||||
Total amount of senior securities outstanding, exclusive of treasury securities | $ | 9,879 | $ | 9,179 | ||||
Asset coverage per unit(11) | 1.79 | 1.84 |
inability to make investments in companies that meet its investment criteria, the interest rates payable on the debt securities the Company acquires, the level of the Company’s expenses, variations in and the timing of the recognition of realized and unrealized gains or losses, the degree to which the Company encounters competition in its markets and general economic conditions. As a result of these factors, results for any previous period should not be relied upon as being indicative of performance in future periods. The total return calculations set forth above represent the total return on the Company’s investment portfolio during the applicable period and do not represent an actual return to stockholders. (8)The total return based on market value for each period presented was calculated based on the change in market price during the applicable period, including the impact of distributions reinvested in accordance with the Company’s DRP. Total return based on market value does not consider the effect of any sales commissions or charges that may be incurred in connection with the sale of shares of the Company’s common stock. The historical calculation of total return based on market value in the table should not be considered a representation of the Company’s future total return based on market value, which may be greater or less than the return shown in the table due to a number of factors, including the Company’s ability or inability to make investments in companies that meet its investment criteria, the interest rates payable on the debt securities the Company acquires, the level of the Company’s expenses, variations in and the timing of the recognition of realized and unrealized gains or losses, the degree to which the Company encounters competition in its markets, general economic conditions and fluctuations in |
|
|
|
|
|
|
|
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 11. Financial Highlights (continued)
|
Three Months Ended March 31, 2022 (Unaudited) | Year Ended December 31, 2021 | |||||||
Ratio of net subordinated income incentive fees to average net assets | 1.29 | % | 0.83 | % | ||||
Ratio of interest expense to average net assets | 3.96 | % | 4.10 | % | ||||
Ratio of excise taxes to average net assets | — | 0.21 | % |
|
|
market value. As a result of these factors, results for any previous period should not be relied upon as being indicative of performance in future periods.
Nine Months Ended September 30, 2022 | Year Ended December 31, 2021 | |||||||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||||||||
Ratio of net subordinated income incentive fees to average net assets | 1.25 | % | 0.83 | % | ||||||||||||||||||||||||||||
Ratio of interest expense to average net assets | 4.44 | % | 4.10 | % | ||||||||||||||||||||||||||||
Ratio of excise taxes to average net assets | 0.02 | % | 0.21 | % |
FS KKR Capital Corp.
Notes to Unaudited Consolidated Financial Statements (continued)
(in millions, except share and per share amounts)
Note 12. Acquisition of FSKR (continued)
The following table summarized the allocation of the purchase price to the assets acquired and liabilities assumed as a result of the 2021 Merger:
Common stock purchased | $ | 3,650 | ||
|
| |||
Total purchase price | $ | 3,650 | ||
|
| |||
Assets acquired, at fair value: | ||||
Investments | $ | 7,227 | ||
Cash and cash equivalents | 293 | |||
Other assets | 221 | |||
|
| |||
Total assets acquired | $ | 7,741 | ||
Debt | 3,794 | |||
Distributions payable | 93 | |||
Other liabilities assumed | 204 | |||
|
| |||
Total purchase price | $ | 3,650 | ||
|
|
Common stock purchased | $3,650 | ||||
Total purchase price | $3,650 | ||||
Assets acquired, at fair value: | |||||
Investments | $7,227 | ||||
Cash and cash equivalents | 293 | ||||
Other assets | 221 | ||||
Total assets acquired | $7,741 | ||||
Debt | 3,794 | ||||
Distributions payable | 93 | ||||
Other liabilities assumed | 204 | ||||
Total purchase price | $3,650 |
Note 13. Subsequent Events
4.750% Notes due 2022
On March 15, 2022 the Company issued a notice
|
•our future operating results;
•our business prospects and the prospects of the companies in which we may invest, including our and their ability to achieve our respective objectives as a result of the current COVID-19 pandemic;
•the impact of the investments that we expect to make;
•the ability of our portfolio companies to achieve their objectives;
•our current and expected financings and investments;
•receiving and maintaining corporate credit ratings and changes in the general interest rate environment;
•the adequacy of our cash resources, financing sources and working capital;
•the timing and amount of cash flows, distributions and dividends, if any, from our portfolio companies;
•our contractual arrangements and relationships with third parties;
•actual and potential conflicts of interest with the other funds managed by the Advisor, FS Investments, KKR Credit or any of their respective affiliates;
•the dependence of our future success on the general economy and its effect on the industries in which we may invest;
•general economic and political trends and other external factors, including the current COVID-19 pandemic and related disruptions caused thereby;
•our use of financial leverage;
•the ability of the Advisor to locate suitable investments for us and to monitor and administer our investments;
•the ability of the Advisor or its affiliates to attract and retain highly talented professionals;
•our ability to maintain our qualification as a RIC and as a BDC;
•the impact on our business of the Dodd-Frank Wall Street Reform and Consumer Protection Act, as amended, and the rules and regulations issued thereunder;
•the effect of changes to tax legislation on us and the portfolio companies in which we may invest and our and their tax position; and
•the tax status of the enterprises in which we may invest.
materially from those implied or expressed in the forward-looking statements for any reason. Factors that could cause actual results to differ materially include:
•changes in the economy;
•geo-political risks;
•future changes in laws or regulations and conditions in our operating areas; and
•the price at which shares of our common stock may trade on the New York Stock Exchange, or NYSE.
•utilizing the experience and expertise of the management team of the Advisor;
•employing a defensive investment approach focused on long-term credit performance and principal protection;
•focusing primarily on debt investments in a broad array of private U.S. companies, including middle-market companies, which we define as companies with annual EBITDA of $25 million to $100 million at the time of investment;
•investing primarily in established, stable enterprises with positive cash flows; and
•maintaining rigorous portfolio monitoring in an attempt to anticipate and pre-empt negative credit events within our portfolio, such as an event of insolvency, liquidation, dissolution, reorganization or bankruptcy of a portfolio company.
financial covenants, maturity dates or interest rate terms. These directly originated transactions include participation in other originated transactions where there may be third parties involved, or a bank acting as an intermediary, for a closely held club, or similar transactions. These direct originations include investments originated by our former investment adviser, our former investment sub-adviser or their affiliates.
foreign currency, net unrealized appreciation or depreciation on investments and net unrealized gain or loss on foreign currency. Net investment income is the difference between our income from interest, dividends, fees and other investment income and our operating and other expenses. Net realized gain or loss on investments is the difference between the proceeds received from dispositions of portfolio investments and their amortized cost, including the respective realized gain or loss on foreign currency for those foreign denominated investment transactions. Net realized gain or loss on foreign currency is the portion of realized gain or loss attributable to foreign currency fluctuations. Net unrealized appreciation or depreciation on investments is the net change in the fair value of our investment portfolio, including the respective unrealized gain or loss on foreign currency for those foreign denominated investments. Net unrealized gain or loss on foreign currency is the net change in the value of receivables or accruals due to the impact of foreign currency fluctuations.
performing administrative services for us and administrative personnel paid by the Advisor, to the extent they are not controlling persons of the Advisor or any of its affiliates, subject to the limitations included in the investment advisory agreement and the administration agreement.
COVID-19 Developments
The rapid spread of the COVID-19 pandemic, and associated impacts on the U.S. and global economies, has negatively impacted, and is likely to continue to negatively impact, the business operations of some of our portfolio companies. We cannot at this time fully predict the continued impact of COVID-19 and its variants on our business or the business of our portfolio companies, its duration or magnitude or the extent to which it will negatively impact our portfolio companies’ operating results or our own results of operations or financial condition. We expect that certain of our portfolio companies may continue to experience economic distress for the foreseeable future and may significantly limit business operations if subjected to prolonged economic distress. These developments could result in a decrease in the value of our investments.
COVID-19 has previously had adverse effects on our investment income and we expect that such adverse effects may continue for some time. These adverse effects may require us to restructure certain of our investments, which could result in further reductions to our investment income or in impairments on our investments. In addition, disruptions in the capital markets have resulted in illiquidity in certain market areas. These market disruptions and illiquidity may have an adverse effect on our business, financial condition, results of operations and cash flows. Unfavorable economic conditions caused by COVID-19 and its variants may increase our funding costs and limit our access to the capital markets. These events have previously limited our investment originations and have also previously had a material negative impact on our operating results for a period of time.
We will continue to carefully monitor the impact of the COVID-19 pandemic on our business and the business of our portfolio companies. Because the full effects of the COVID-19 pandemic are not capable of being known at this time, we cannot estimate the impacts of COVID-19 and its variants on our future financial condition, results of operations or cash flows. We do, however, expect that it may continue to have a negative impact on our business and the financial condition of certain of our portfolio companies.
For the Three Months Ended | For the Nine Months Ended | |||||||||||||||||||||||||||||||||||||
Net Investment Activity | September 30, 2022 | September 30, 2022 | ||||||||||||||||||||||||||||||||||||
Purchases | $ | 907 | $ | 3,779 | ||||||||||||||||||||||||||||||||||
Sales and Repayments | (951) | (3,530) | ||||||||||||||||||||||||||||||||||||
Net Portfolio Activity | $ | (44) | $ | 249 |
For the Three Months Ended | For the Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2022 | September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||
New Investment Activity by Asset Class | Purchases | Percentage | Sales and Repayments | Percentage | Purchases | Percentage | Sales and Repayments | Percentage | ||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—First Lien | $ | 444 | 49 | % | $ | 558 | 59 | % | $ | 2,143 | 57 | % | $ | 1,883 | 53 | % | ||||||||||||||||||||||||||||||||||
Senior Secured Loans—Second Lien | 78 | 9 | % | 55 | 6 | % | 121 | 3 | % | 259 | 7 | % | ||||||||||||||||||||||||||||||||||||||
Other Senior Secured Debt | 1 | 0 | % | — | — | 1 | 0 | % | — | — | ||||||||||||||||||||||||||||||||||||||||
Subordinated Debt | 180 | 20 | % | 1 | 0 | % | 187 | 5 | % | 38 | 1 | % | ||||||||||||||||||||||||||||||||||||||
Asset Based Finance(1) | 68 | 7 | % | 308 | 32 | % | 645 | 17 | % | 972 | 28 | % | ||||||||||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC | — | — | — | — | 175 | 5 | % | — | — | |||||||||||||||||||||||||||||||||||||||||
Equity/Other(1) | 136 | 15 | % | 29 | 3 | % | 507 | 13 | % | 378 | 11 | % | ||||||||||||||||||||||||||||||||||||||
Total | $ | 907 | 100 | % | $ | 951 | 100 | % | $ | 3,779 | 100 | % | $ | 3,530 | 100 | % | ||||||||||||||||||||||||||||||||||
(1) Equity/Other includes investments in preferred equity investments. During the three and nine months ended September 30, 2022, purchases of preferred equity investments were $128 and $451, respectively and sales and repayments of preferred equity investments were $0 and $109, respectively. |
The following table summarizes the composition of our investment portfolio at cost and fair value as of September 30, 2022 and December 31, 2021: | ||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(Unaudited) | December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||
Amortized Cost(1) | Fair Value | Percentage of Portfolio | Amortized Cost(1) | Fair Value | Percentage of Portfolio | |||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—First Lien | $ | 10,023 | $ | 9,781 | 61.9 | % | $ | 9,695 | $ | 9,765 | 60.7 | % | ||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—Second Lien | 1,357 | 1,245 | 7.9 | % | 1,564 | 1,557 | 9.7 | % | ||||||||||||||||||||||||||||||||||||||||||
Other Senior Secured Debt | 151 | 110 | 0.7 | % | 149 | 120 | 0.7 | % | ||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt | 380 | 255 | 1.6 | % | 188 | 111 | 0.7 | % | ||||||||||||||||||||||||||||||||||||||||||
Asset Based Finance(2) | 1,942 | 1,826 | 11.6 | % | 2,132 | 2,245 | 13.9 | % | ||||||||||||||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC | 1,572 | 1,466 | 9.3 | % | 1,397 | 1,396 | 8.7 | % | ||||||||||||||||||||||||||||||||||||||||||
Equity/Other(2) | 1,253 | 1,109 | 7.0 | % | 932 | 907 | 5.6 | % | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | 16,678 | $ | 15,792 | 100.0 | % | $ | 16,057 | $ | 16,101 | 100.0 | % | ||||||||||||||||||||||||||||||||||||||
(1) Amortized cost represents the original cost adjusted for the amortization of premiums and/or accretion of discounts, as applicable, on investments. | ||||||||||||||||||||||||||||||||||||||||||||||||||
(2) As of September 30, 2022, Equity/Other included $750 of preferred equity investments. |
The following table presents certain selected information regarding the composition of our investment portfolio as of September 30, 2022 and December 31, 2021: | |||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2022 | December 31, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||
Number of Portfolio Companies | 195 | 189 | |||||||||||||||||||||||||||||||||||||||||||||
% Variable Rate Debt Investments (based on fair value)(1)(2) | 70.9% | 69.7% | |||||||||||||||||||||||||||||||||||||||||||||
% Fixed Rate Debt Investments (based on fair value)(1)(2) | 8.7% | 10.2% | |||||||||||||||||||||||||||||||||||||||||||||
% Other Income Producing Investments (based on fair value)(3) | 13.5% | 13.1% | |||||||||||||||||||||||||||||||||||||||||||||
% Non-Income Producing Investments (based on fair value)(2) | 4.4% | 5.1% | |||||||||||||||||||||||||||||||||||||||||||||
% of Investments on Non-Accrual (based on fair value) | 2.5% | 1.9% | |||||||||||||||||||||||||||||||||||||||||||||
Weighted Average Annual Yield on Accruing Debt Investments(2)(4) | 11.1% | 9.2% | |||||||||||||||||||||||||||||||||||||||||||||
Weighted Average Annual Yield on All Debt Investments(5) | 10.3% | 8.7% |
For the Three Months Ended | For the Year Ended | |||||||
Net Investment Activity | March 31, 2022 | December 31, 2021 | ||||||
Purchases(1) | $ | 2,068 | $ | 13,826 | ||||
Sales and Repayments | (1,673 | ) | (5,575 | ) | ||||
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Net Portfolio Activity | $ | 395 | $ | 8,251 | ||||
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For the Three Months Ended March 31, 2022 | ||||||||||||||||
New Investment Activity by Asset Class | Purchases | Percentage | Sales and Repayments | Percentage | ||||||||||||
Senior Secured Loans—First Lien | $ | 1,144 | 55 | % | $ | 976 | 58 | % | ||||||||
Senior Secured Loans—Second Lien | 39 | 2 | % | 103 | 6 | % | ||||||||||
Other Senior Secured Debt | — | — | — | — | ||||||||||||
Subordinated Debt | 6 | 0 | % | — | — | |||||||||||
Asset Based Finance | 421 | 21 | % | 493 | 30 | % | ||||||||||
Credit Opportunities Partners JV, LLC | 87 | 4 | % | — | — | |||||||||||
Equity/Other | 371 | 18 | % | 101 | 6 | % | ||||||||||
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Total | $ | 2,068 | 100 | % | $ | 1,673 | 100 | % | ||||||||
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stated base rate floor. The following table summarizesbase rate utilized in this calculation may not be indicative of the composition of our investment portfolio at cost and fair valuebase rates for specific contracts as of March 31,September 30, 2022.
March 31, 2022 (Unaudited) | December 31, 2021 | |||||||||||||||||||||||
Amortized Cost(1) | Fair Value | Percentage of Portfolio | Amortized Cost(1) | Fair Value | Percentage of Portfolio | |||||||||||||||||||
Senior Secured Loans—First Lien | $ | 9,862 | $ | 9,923 | 59.9 | % | $ | 9,695 | $ | 9,765 | 60.7 | % | ||||||||||||
Senior Secured Loans—Second Lien | 1,464 | 1,416 | 8.6 | % | 1,564 | 1,557 | 9.7 | % | ||||||||||||||||
Other Senior Secured Debt | 149 | 117 | 0.7 | % | 149 | 120 | 0.7 | % | ||||||||||||||||
Subordinated Debt | 194 | 75 | 0.5 | % | 188 | 111 | 0.7 | % | ||||||||||||||||
Asset Based Finance | 2,091 | 2,178 | 13.2 | % | 2,132 | 2,245 | 13.9 | % | ||||||||||||||||
Credit Opportunities Partners JV, LLC | 1,484 | 1,480 | 8.9 | % | 1,397 | 1,396 | 8.7 | % | ||||||||||||||||
Equity/Other | 1,239 | 1,365 | 8.2 | % | 932 | 907 | 5.6 | % | ||||||||||||||||
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Total | $ | 16,483 | $ | 16,554 | 100.0 | % | $ | 16,057 | $ | 16,101 | 100.0 | % | ||||||||||||
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(b) the stated base rate floor. The following table presents certain selected information regardingbase rate utilized in this calculation may not be indicative of the composition of our investment portfoliobase rates for specific contracts as of March 31, 2022 and December 31, 2021:
March 31, 2022 | December 31, 2021 | |||||||
Number of Portfolio Companies | 193 | 189 | ||||||
% Variable Rate Debt Investments (based on fair value)(1)(2) | 68.9 | % | 69.7 | % | ||||
% Fixed Rate Debt Investments (based on fair value)(1)(2) | 10.2 | % | 10.2 | % | ||||
% Other Income Producing Investments (based on fair value)(3) | 14.4 | % | 13.1 | % | ||||
% Non-Income Producing Investments (based on fair value)(2) | 5.0 | % | 5.1 | % | ||||
% of Investments on Non-Accrual (based on fair value) | 1.5 | % | 1.9 | % | ||||
Weighted Average Annual Yield on Accruing Debt Investments(2)(4) | 8.9 | % | 9.2 | % | ||||
Weighted Average Annual Yield on All Debt Investments(5) | 8.6 | % | 8.7 | % |
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For the threenine months ended March 31,September 30, 2022, our total return based on net asset value was 2.91%0.40% and our total return based on market value was 11.97%(10.94)%. For the year ended December 31, 2021, our total return based on net asset value was 18.47% and our total return based on market value was 41.45%. See footnotes 7 and 8 to the table included in Note 11 to our unaudited consolidated
Characteristics of All Direct Originations held in Portfolio | March 31, 2022 | December 31, 2021 | ||||||
Number of Portfolio Companies | 170 | 167 | ||||||
% of Investments on Non-Accrual (based on fair value) | 1.4 | % | 1.9 | % | ||||
Total Cost of Direct Originations | $ | 15,729.6 | $ | 15,341.3 | ||||
Total Fair Value of Direct Originations | $ | 15,872.7 | $ | 15,433.3 | ||||
% of Total Investments, at Fair Value | 95.9 | % | 95.9 | % | ||||
Weighted Average Annual Yield on Accruing Debt Investments(1) | 8.8 | % | 8.9 | % | ||||
Weighted Average Annual Yield on All Debt Investments(2) | 8.4 | % | 8.5 | % |
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Characteristics of All Direct Originations held in Portfolio September 30, 2022 December 31, 2021 Number of Portfolio Companies 177 167 % of Investments on Non-Accrual (based on fair value) 2.5% 1.9% Total Cost of Direct Originations $15,934.6 $15,341.3 Total Fair Value of Direct Originations $15,247.3 $15,433.3 % of Total Investments, at Fair Value 96.6% 95.9% 11.1% 8.9% 10.3% 8.5%
March 31, 2022 (Unaudited) | December 31, 2021 | |||||||||||||||
Industry Classification | Fair Value | Percentage of Portfolio | Fair Value | Percentage of Portfolio | ||||||||||||
Automobiles & Components | $ | 94 | 0.5 | % | $ | 89 | 0.5 | % | ||||||||
Banks | — | — | 15 | 0.1 | % | |||||||||||
Capital Goods | 2,240 | 13.5 | % | 2,281 | 14.2 | % | ||||||||||
Commercial & Professional Services | 1,684 | 10.2 | % | 1,615 | 10.0 | % | ||||||||||
Consumer Durables & Apparel | 523 | 3.2 | % | 551 | 3.4 | % | ||||||||||
Consumer Services | 275 | 1.7 | % | 393 | 2.4 | % | ||||||||||
Credit Opportunities Partners JV, LLC | 1,480 | 8.9 | % | 1,396 | 8.7 | % | ||||||||||
Diversified Financials | 589 | 3.6 | % | 672 | 4.2 | % | ||||||||||
Energy | 314 | 1.9 | % | 241 | 1.5 | % | ||||||||||
Food & Staples Retailing | 272 | 1.6 | % | 296 | 1.8 | % | ||||||||||
Food, Beverage & Tobacco | 194 | 1.2 | % | 256 | 1.6 | % | ||||||||||
Health Care Equipment & Services | 2,106 | 12.7 | % | 1,613 | 10.0 | % | ||||||||||
Household & Personal Products | 314 | 1.9 | % | 227 | 1.4 | % | ||||||||||
Insurance | 807 | 4.9 | % | 898 | 5.6 | % | ||||||||||
Materials | 212 | 1.3 | % | 211 | 1.3 | % | ||||||||||
Media & Entertainment | 501 | 3.0 | % | 720 | 4.5 | % | ||||||||||
Pharmaceuticals, Biotechnology & Life Sciences | 230 | 1.4 | % | 235 | 1.5 | % | ||||||||||
Real Estate | 989 | 6.0 | % | 876 | 5.4 | % | ||||||||||
Retailing | 367 | 2.2 | % | 288 | 1.8 | % | ||||||||||
Software & Services | 2,795 | 16.9 | % | 2,698 | 16.8 | % | ||||||||||
Technology Hardware & Equipment | 41 | 0.2 | % | 42 | 0.3 | % | ||||||||||
Telecommunication Services | 127 | 0.8 | % | 128 | 0.8 | % | ||||||||||
Transportation | 400 | 2.4 | % | 360 | 2.2 | % | ||||||||||
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Total | $ | 16,554 | 100.0 | % | $ | 16,101 | 100.0 | % | ||||||||
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September 30, 2022 | ||||||||||||||||||||||||||
(Unaudited) | December 31, 2021 | |||||||||||||||||||||||||
Industry Classification | Fair Value | Percentage of Portfolio | Fair Value | Percentage of Portfolio | ||||||||||||||||||||||
Automobiles & Components | $ | 36 | 0.2 | % | $ | 89 | 0.5 | % | ||||||||||||||||||
Banks | — | — | 15 | 0.1 | % | |||||||||||||||||||||
Capital Goods | 2,224 | 14.1 | % | 2,281 | 14.2 | % | ||||||||||||||||||||
Commercial & Professional Services | 1,673 | 10.6 | % | 1,615 | 10.0 | % | ||||||||||||||||||||
Consumer Durables & Apparel | 290 | 1.8 | % | 551 | 3.4 | % | ||||||||||||||||||||
Consumer Services | 200 | 1.3 | % | 393 | 2.4 | % | ||||||||||||||||||||
Credit Opportunities Partners JV, LLC | 1,466 | 9.3 | % | 1,396 | 8.7 | % | ||||||||||||||||||||
Diversified Financials | 634 | 4.0 | % | 672 | 4.2 | % | ||||||||||||||||||||
Energy | 288 | 1.8 | % | 241 | 1.5 | % | ||||||||||||||||||||
Food & Staples Retailing | 268 | 1.7 | % | 296 | 1.8 | % | ||||||||||||||||||||
Food, Beverage & Tobacco | 189 | 1.2 | % | 256 | 1.6 | % | ||||||||||||||||||||
Health Care Equipment & Services | 1,976 | 12.5 | % | 1,613 | 10.0 | % | ||||||||||||||||||||
Household & Personal Products | 246 | 1.6 | % | 227 | 1.4 | % | ||||||||||||||||||||
Insurance | 950 | 6.0 | % | 898 | 5.6 | % | ||||||||||||||||||||
Materials | 190 | 1.2 | % | 211 | 1.3 | % | ||||||||||||||||||||
Media & Entertainment | 627 | 4.0 | % | 720 | 4.5 | % | ||||||||||||||||||||
Pharmaceuticals, Biotechnology & Life Sciences | 202 | 1.3 | % | 235 | 1.5 | % | ||||||||||||||||||||
Real Estate | 818 | 5.2 | % | 876 | 5.4 | % | ||||||||||||||||||||
Retailing | 287 | 1.8 | % | 288 | 1.8 | % | ||||||||||||||||||||
Software & Services | 2,847 | 18.0 | % | 2,698 | 16.8 | % | ||||||||||||||||||||
Technology Hardware & Equipment | 5 | 0.0 | % | 42 | 0.3 | % | ||||||||||||||||||||
Telecommunication Services | 79 | 0.5 | % | 128 | 0.8 | % | ||||||||||||||||||||
Transportation | 297 | 1.9 | % | 360 | 2.2 | % | ||||||||||||||||||||
Total | $ | 15,792 | 100.0 | % | $ | 16,101 | 100.0 | % |
Investment
| Summary Description | |||||||
1 | Performing investment—generally executing in accordance with plan and there are no concerns about the portfolio company’s performance or ability to meet covenant requirements. | |||||||
2 | Performing investment—no concern about repayment of both interest and our cost basis but company’s recent performance or trends in the industry require closer monitoring. | |||||||
3 | Underperforming investment—some loss of interest or dividend possible, but still expecting a positive return on investment. | |||||||
4 | Underperforming investment—concerns about the recoverability of principal or interest. |
March 31, 2022 | December 31, 2021 | |||||||||||||||
Investment Rating | Fair Value | Percentage of Portfolio | Fair Value | Percentage of Portfolio | ||||||||||||
1 | $ | 12,884 | 78 | % | $ | 12,602 | 78 | % | ||||||||
2 | 2,638 | 16 | % | 2,468 | 15 | % | ||||||||||
3 | 554 | 3 | % | 748 | 5 | % | ||||||||||
4 | 478 | 3 | % | 283 | 2 | % | ||||||||||
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Total | $ | 16,554 | 100 | % | $ | 16,101 | 100 | % | ||||||||
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September 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||
Investment Rating | Fair Value | Percentage of Portfolio | Fair Value | Percentage of Portfolio | ||||||||||||||||||||||
1 | $ | 11,881 | 75 | % | $ | 12,602 | 78 | % | ||||||||||||||||||
2 | 3,252 | 21 | % | 2,468 | 15 | % | ||||||||||||||||||||
3 | 207 | 1 | % | 748 | 5 | % | ||||||||||||||||||||
4 | 452 | 3 | % | 283 | 2 | % | ||||||||||||||||||||
Total | $ | 15,792 | 100 | % | $ | 16,101 | 100 | % |
Three Months Ended March 31, | ||||||||||||||||
2022 | 2021 | |||||||||||||||
Amount | Percentage of Total Income | Amount | Percentage of Total Income | |||||||||||||
Interest income | $ | 261 | 65.9 | % | $ | 92 | 60.9 | % | ||||||||
Paid-in-kind interest income | 43 | 10.9 | % | 17 | 11.3 | % | ||||||||||
Fee income | 29 | 7.3 | % | 11 | 7.3 | % | ||||||||||
Dividend income | 63 | 15.9 | % | 31 | 20.5 | % | ||||||||||
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Total investment income(1) | $ | 396 | 100.0 | % | $ | 151 | 100.0 | % | ||||||||
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Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||
Amount | Percentage of Total Income | Amount | Percentage of Total Income | Amount | Percentage of Total Income | Amount | Percentage of Total Income | |||||||||||||||||||||||||||||||||||||||||||
Interest income | $ | 279 | 67.9 | % | $ | 239 | 66.4 | % | $ | 787 | 66.4 | % | $ | 442 | 61.6 | % | ||||||||||||||||||||||||||||||||||
Paid-in-kind interest income | 39 | 9.5 | % | 35 | 9.7 | % | 122 | 10.3 | % | 70 | 9.8 | % | ||||||||||||||||||||||||||||||||||||||
Fee income | 26 | 6.3 | % | 31 | 8.6 | % | 68 | 5.7 | % | 65 | 9.1 | % | ||||||||||||||||||||||||||||||||||||||
Dividend income | 67 | 16.3 | % | 55 | 15.3 | % | 209 | 17.6 | % | 140 | 19.5 | % | ||||||||||||||||||||||||||||||||||||||
Total investment income(1) | $ | 411 | 100.0 | % | $ | 360 | 100.0 | % | $ | 1,186 | 100.0 | % | $ | 717 | 100.0 | % |
The increase in dividend income during the three and nine months ended March 31,September 30, 2022 compared to the three and nine months ended March 31,September 30, 2021 can primarily be attributed to the increase in dividends paid in respect to our investment in Credit Opportunities Partners JV, LLC.
Three Months Ended March 31, | ||||||||
2022 | 2021 | |||||||
Management fees | $ | 62 | $ | 25 | ||||
Subordinated income incentive fees | 40 | — | ||||||
Administrative services expenses | 4 | 2 | ||||||
Accounting and administrative fees | 1 | 1 | ||||||
Interest expense | 77 | 42 | ||||||
Other expenses | 7 | 3 | ||||||
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Total operating expenses | $ | 191 | $ | 73 | ||||
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Incentive fee waiver | (15 | ) | — | |||||
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Total net expenses | $ | 176 | $ | 73 | ||||
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Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
Management fees | $ | 61 | $ | 58 | $ | 186 | $ | 113 | ||||||||||||||||||
Subordinated income incentive fees | 40 | 35 | 117 | 43 | ||||||||||||||||||||||
Administrative services expenses | 4 | 5 | 12 | 9 | ||||||||||||||||||||||
Accounting and administrative fees | 2 | 1 | 4 | 2 | ||||||||||||||||||||||
Interest expense | 96 | 70 | 256 | 158 | ||||||||||||||||||||||
Other expenses | 6 | 5 | 16 | 12 | ||||||||||||||||||||||
Total operating expenses | 209 | 174 | 591 | 337 | ||||||||||||||||||||||
Incentive fee waiver | (15) | (15) | (45) | (15) | ||||||||||||||||||||||
Net operating expenses before taxes | 194 | 159 | 546 | 322 | ||||||||||||||||||||||
Excise taxes | 1 | — | 1 | — | ||||||||||||||||||||||
Total net expenses, including excise taxes | $ | 195 | $ | 159 | $ | 547 | $ | 322 |
Three Months Ended March 31, | ||||||||
2022 | 2021 | |||||||
Ratio of operating expenses to average net assets | 2.46 | % | 2.36 | % | ||||
Ratio of incentive fee waiver to average net assets(1) | (0.20 | )% | — | |||||
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Ratio of net operating expenses to average net assets | 2.26 | % | 2.36 | % | ||||
Ratio of net incentive fees and interest expense to average net assets(1) | 1.31 | % | 1.36 | % | ||||
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Ratio of net operating expenses, excluding certain expenses, to average net assets | 0.95 | % | 1.00 | % | ||||
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Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
Ratio of operating expenses to average net assets | 2.79 | % | 2.26 | % | 7.70 | % | 6.85 | % | ||||||||||||||||||
Ratio of incentive fee waiver to average net assets(1) | (0.20) | % | (0.19) | % | (0.58) | % | (0.30) | % | ||||||||||||||||||
Ratio of net operating expenses to average net assets | 2.59 | % | 2.07 | % | 7.12 | % | 6.55 | % | ||||||||||||||||||
Ratio of net incentive fees, interest expense and excise taxes to average net assets(1) | 1.62 | % | 1.17 | % | 4.28 | % | 3.78 | % | ||||||||||||||||||
Ratio of net operating expenses, excluding certain expenses, to average net assets | 0.97 | % | 0.90 | % | 2.84 | % | 2.77 | % |
Our net investment income totaled $639 ($2.25 per share) and $395 ($2.11 per share) for the nine months ended September 30, 2022 and 2021, respectively. The increase in net investment income during the nine months ended September 30, 2022 compared to
Three Months Ended March 31, | ||||||||
2022 | 2021 | |||||||
Net realized gain (loss) on investments(1) | $ | (32 | ) | $ | (126 | ) | ||
Net realized gain (loss) on foreign currency forward contracts | 5 | — | ||||||
Net realized gain (loss) on foreign currency | 1 | (2 | ) | |||||
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Total net realized gain (loss) | $ | (26 | ) | $ | (128 | ) | ||
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Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
Net realized gain (loss) on investments(1) | $ | 63 | $ | 197 | $ | 214 | $ | 123 | ||||||||||||||||||
Net realized gain (loss) on foreign currency forward contracts | 2 | 0 | 9 | 0 | ||||||||||||||||||||||
Net realized gain (loss) on foreign currency | 5 | (1) | 12 | (4) | ||||||||||||||||||||||
Total net realized gain (loss) | $ | 70 | $ | 196 | $ | 235 | $ | 119 |
Three Months Ended March 31, | ||||||||
2022 | 2021 | |||||||
Net change in unrealized appreciation (depreciation) on investments | $ | 27 | $ | 242 | ||||
Net change in unrealized appreciation (depreciation) on foreign currency forward contracts | 1 | 1 | ||||||
Net change in unrealized gain (loss) on foreign currency | 3 | 6 | ||||||
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Total net change in unrealized appreciation (depreciation) | $ | 31 | $ | 249 | ||||
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Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments | $ | (451) | $ | (142) | $ | (930) | $ | 784 | ||||||||||||||||||
Net change in unrealized appreciation (depreciation) on foreign currency forward contracts | 15 | 5 | 31 | 8 | ||||||||||||||||||||||
Net change in unrealized gain (loss) on foreign currency | 23 | 10 | 53 | 28 | ||||||||||||||||||||||
Total net change in unrealized appreciation (depreciation) | $ | (413) | $ | (127) | $ | (846) | $ | 820 |
quarter.
This “Results
$1,334 ($7.13 per share) during the nine months ended September 30, 2021.
subject to borrowing base and other limitations. As of March 31,September 30, 2022, we also held broadly syndicated investments and opportunistic investments that we believe could be sold to create additional liquidity. As of March 31,September 30, 2022, we had unfunded debt investments with aggregate unfunded commitments of $1,584.1,$1,042.4, unfunded equity/other commitments of $497.8$362.8 and unfunded commitments of $262.7$560.2 of Credit Opportunities Partners JV, LLC. We maintain sufficient cash on hand, available borrowings and liquid securities to fund such unfunded commitments should the need arise.
This “Financial Condition, Liquidity and Capital Resources” section should be read in conjunction with “COVID-19 Developments” above.
As of March 31, 2022 (Unaudited) | ||||||||||||||||||||
Arrangement | Type of Arrangement | Rate | Amount Outstanding | Amount Available | Maturity Date | |||||||||||||||
Ambler Credit Facility(2)(9) | Revolving Credit Facility | SOFR+2.15%(1) | $ | 161 | $ | 39 | November 22, 2025 | |||||||||||||
Burholme Prime Brokerage Facility(2)(9) | Prime Brokerage Facility | L+1.25%(1) | — | — | September 26, 2022 | |||||||||||||||
CCT Tokyo Funding Credit Facility(2) | Revolving Credit Facility | L+1.75% - 2.00%(1)(3) | 300 | — | January 2, 2025 | |||||||||||||||
Darby Creek Credit Facility(2)(9) | Revolving Credit Facility | L+1.85%(1) | 250 | — | February 26, 2025 | |||||||||||||||
Dunlap Credit Facility(2)(9) | Revolving Credit Facility | L+1.85%(1) | 500 | — | February 26, 2025 | |||||||||||||||
Meadowbrook Run Credit Facility(2)(8) | Revolving Credit Facility | SOFR+2.05%(1) | 275 | 25 | November 22, 2024 | |||||||||||||||
Senior Secured Revolving Credit Facility(2) | Revolving Credit Facility | | L+1.75% - 2.00%(1) SONIA+0.0326%(1)(4) |
| 2,846 | (5) | 1,345 | (6) | December 23, 2025 | |||||||||||
4.750% Notes due 2022(7) | Unsecured Notes | 4.75% | 450 | — | May 15, 2022 | |||||||||||||||
4.625% Notes due 2024(7) | Unsecured Notes | 4.63% | 400 | — | July 15, 2024 | |||||||||||||||
1.650% Notes due 2024(7) | Unsecured Notes | 1.65% | 500 | — | October 12, 2024 | |||||||||||||||
4.125% Notes due 2025(7) | Unsecured Notes | 4.13% | 470 | — | February 1, 2025 | |||||||||||||||
4.250% Notes due 2025(7)(9) | Unsecured Notes | 4.25% | 475 | — | February 14, 2025 | |||||||||||||||
8.625% Notes due 2025(7) | Unsecured Notes | 8.63% | 250 | — | May 15, 2025 | |||||||||||||||
3.400% Notes due 2026(7) | Unsecured Notes | 3.40% | 1,000 | — | January 15, 2026 | |||||||||||||||
2.625% Notes due 2027(7) | Unsecured Notes | 2.63% | 400 | — | January 15, 2027 | |||||||||||||||
3.250% Notes due 2027(7) | Unsecured Notes | 3.25% | 500 | — | July 15, 2027 | |||||||||||||||
3.125% Notes due 2028(7) | Unsecured Notes | 3.13% | 750 | — | October 12, 2028 | |||||||||||||||
CLO-1 Notes(2)(8) | | Collateralized Loan Obligation | | L+1.85% - 3.01%(1) | 352 | — | January 15, 2031 | |||||||||||||
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Total | $ | 9,879 | $ | 1,409 |
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Arrangement Type of Arrangement Rate Amount
OutstandingAmount
AvailableMaturity Date Revolving Credit Facility $ 144 $ 56 November 22, 2025 Prime Brokerage Facility — — March 28, 2023 Revolving Credit Facility 290 10 June 2, 2025 Revolving Credit Facility 243 7 February 26, 2025 Revolving Credit Facility 478 22 February 26, 2025 Revolving Credit Facility 259 41 November 22, 2024 Revolving Credit Facility May 17, 2027 Unsecured Notes 4.63% 400 — July 15, 2024 Unsecured Notes 1.65% 500 — October 12, 2024 Unsecured Notes 4.13% 470 — February 1, 2025 Unsecured Notes 4.25% 475 — February 14, 2025 Unsecured Notes 8.63% 250 — May 15, 2025 Unsecured Notes 3.40% 1,000 — January 15, 2026 Unsecured Notes 2.63% 400 — January 15, 2027 Unsecured Notes 3.25% 500 — July 15, 2027 Unsecured Notes 3.13% 750 — October 12, 2028 Collateralized Loan Obligation 352 — January 15, 2031 Total $ 9,176 $ 2,114
borrowings
.time, we may alsoalso pay special interim distributions in the form of cash or shares of our common stock at the discretion of our board of directors.
Distribution | ||||||||
For the Three Months Ended | Per Share | Amount | ||||||
Fiscal 2021 | ||||||||
March 31, 2021 | $ | 0.60 | $ | 74 | ||||
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Total | $ | 0.60 | $ | 74 | ||||
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Fiscal 2022 | ||||||||
March 31, 2022 | $ | 0.63 | $ | 179 | ||||
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Total | $ | 0.63 | $ | 179 | ||||
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Distribution | ||||||||||||||
For the Three Months Ended | Per Share | Amount | ||||||||||||
Fiscal 2021 | ||||||||||||||
March 31, 2021 | $ | 0.60 | $ | 74 | ||||||||||
June 30, 2021 | 0.60 | 75 | ||||||||||||
September 30, 2021 | 0.65 | 186 | ||||||||||||
Total | $ | 1.85 | $ | 335 | ||||||||||
Fiscal 2022 | ||||||||||||||
March 31, 2022 | $ | 0.63 | $ | 179 | ||||||||||
June 30, 2022 | 0.68 | 193 | ||||||||||||
September 30, 2022 | 0.67 | 190 | ||||||||||||
Total | $ | 1.98 | $ | 562 |
distribu
tions.4.750% Notes due 2022
On March 15, 2022 we issued a notice of redemption providing for the redemption of our 4.750% senior notes due 2022, or the 4.750% Notes, in full on April 15, 2022 for 100% of the aggregate principal amount of the 4.750% Notes, plus the accrued and unpaid interest through, but excluding, April 15, 2022. On April 15, 2022, all of the 4.750% Notes were redeemed.
policies in “Note 2. Summary of Significant Accounting Policies” in our consolidated financial statements. Critical accounting policies are those that require the application of management’s most difficult, subjective or complex judgments, often because of the need to make estimates about the effect of matters that are inherently uncertain and that may change in subsequent periods. We evaluate our critical accounting estimates and judgments required by our policies on an ongoing basis and update them as necessary based on changing conditions. We have identified one of our accounting policies, valuation of portfolio investments, specifically the valuation of Level 3 investments, as critical because it involves significant judgments and assumptions about highly complex and inherently uncertain matters, and the use of reasonably different estimates and assumptions could have a material impact on our reported results of operations or financial condition. As we execute our operating plans, we will describe additional critical accounting policies in the notes to our future financial statements in addition to those discussed below.
We determine
process set forth in the Advisor's valuation policy.
•our quarterly fair valuation process begins by the Advisor providingfacilitating the delivery of updated quarterly financial and operatingother information relating to each investment to an independent third-party pricing or valuation service;
our independent third-partymethodologies in the Advisor's valuation service providers review thispolicy and communicates the information along with other public and private information, and provideto the Advisor within the form of a valuation range for Level 3 assets;
investment and provides feedback about the Advisor then discussesaccuracy, completeness and timeliness of the valuation-related inputs considered by the independent third-party pricing or valuation service providers’and any suggested revisions thereto prior to the independent third-party pricing or valuation ranges andservice finalizing its valuation range;
preliminary valuations are then discussedcommittee in connection with the valuation committee;
ourcommittee's role in overseeing the fair valuation committee reviews the preliminary valuationsprocess; and the Advisor, together with our independent third-party valuation service providers and, if applicable, supplements the preliminary valuations to reflect any comments provided by the valuation committee;
•following the completion of its review, ourfair value oversight activities, the valuation committee recommends that(with the assistance of the Advisor) provides our board of directors approveswith a report regarding the fair valuations determined by thequarterly valuation committee; and
our board of directors discusses the valuations and determines the fair value of each such investment in our portfolio in good faith based on various statistical and other factors, including the input and recommendation of the Advisor, the valuation committee and our independent third-party valuation service providers.
Determination of fair value involves subjective judgments and estimates. Accordingly, the notes to our consolidated financial statements refer to the uncertainty with respect to the possible effect of such valuations and any change in such valuations on our consolidated financial statements. In making its determination of fair value, our board of directorsthe Advisor may use any approved independent third-party pricing or valuation services.services for which it has performed the appropriate level of due diligence. However, our board of directorsthe Advisor is not required to determine fair value in accordance with the valuation provided by any single source, and may use any relevant data, including information obtained fromsourced by the Advisor or provided by any approved independent third-party valuation or pricing service that our board of directorsthe Advisor deems to be reliable in determining fair value under the circumstances. Below is a description of factors that the Advisor and any approved independent third-party valuation services and our board of directors may consider when determining the fair value of our investments.
The Advisor, any approved independent third-party valuation services and our board of directors may also consider private merger and acquisition statistics, public trading multiples discounted for illiquidity and other factors, valuations implied by third-party investments in the portfolio companies or industry practices in determining fair value. The Advisor, any approved independent third-party valuation services and our board of directors may also consider the size and scope of a portfolio company and its specific strengths and weaknesses, and may apply discounts or premiums, where and as appropriate, due to the higher (or lower) financial risk and/or the smaller size of portfolio companies relative to comparable firms, as well as such other factors as our board of directors, in consultation with the Advisor and any approved independent third-party valuation services, if applicable, may consider relevant in assessing fair value. Generally, the value of our equity interests in public companies for which market quotations are readily available is based upon the most recent closing public market price. Portfolio securities that carry certain restrictions on sale are typically valued at a discount from the public market value of the security.
The fair values of our investments are determined in good faith by our board of directors. Our board of directors is responsible for the valuation of our portfolio investments at fair value as determined in good faith pursuant to our valuation policy and consistently applied valuation process. Our board of directors has delegated day-to-day responsibility for implementing our valuation policy to the Advisor, and has authorized the Advisor to utilize independent third-party valuation and pricing services that have been approved by our board of directors. The valuation committee is responsible for overseeing the Advisor’s implementation of the valuation process.
See Note 8 to our unaudited consolidated financial statements included herein for additional information regarding the fair value of our financial instruments.
Merger Accounting
On June 16, 2021, we completed the 2021 Merger. Pursuant to the 2020 Merger Agreement, Merger Sub merged with and into FSKR, with FSKR continuing as the surviving company and as a wholly-owned subsidiary of the Company, or the First Merger, and, immediately thereafter, FSKR merged with and into the Company, with the Company continuing as the surviving company. The 2021 Merger was considered a tax-free reorganization.
The 2021 Merger was accounted for in accordance with the asset acquisition method of accounting as detailed in Accounting Standards Codification 805-50,Business Combinations—Related Issues. The fair value of the consideration paid by the Company in the 2021 Merger was allocated to the assets acquired and liabilities assumed based on their relative fair values as of the date of acquisition and did not give rise to goodwill.
See Note 12 to our unaudited financial statements included herein for additional information regarding the 2021 Merger.
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that a substantial portion of our investments may be in variable rate investments, an increase in interest rates beyond this threshold would make it easier for us to meet or exceed the hurdle rate applicable to the subordinated incentive fee on income, and may result in a substantial increase in our net investment income and to the amount of incentive fees payable to the Advisor with respect to our increased pre-incentive fee net investment income.
Basis Point Change in Interest Rates | Increase (Decrease) in Interest Income(1) | Increase (Decrease) in Interest Expense | Increase (Decrease) in Net Interest Income | Percentage Change in Net Interest Income | ||||||||||||
Down 96 basis points | $ | (13 | ) | $ | (45 | ) | $ | 32 | 3.6 | % | ||||||
No change | — | — | — | — | ||||||||||||
Up 100 basis points | 100 | 47 | 53 | 5.9 | % | |||||||||||
Up 300 basis points | 332 | 141 | 191 | 21.3 | % | |||||||||||
Up 500 basis points | 564 | 235 | 329 | 36.7 | % |
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Basis Point Change in Interest Rates | Increase (Decrease) in Interest Income(1) | Increase (Decrease) in Interest Expense(2) | Increase (Decrease) in Net Interest Income | Percentage Change in Net Interest Income | ||||||||||||||||||||||
Down 100 basis points | $ | (116) | $ | (44) | $ | (72) | (6.8) | % | ||||||||||||||||||
Down 50 basis points | (58) | (22) | (36) | (3.4) | % | |||||||||||||||||||||
Up 50 basis points | 58 | 22 | 36 | 3.4 | % | |||||||||||||||||||||
Up 100 basis points | 116 | 44 | 72 | 6.8 | % | |||||||||||||||||||||
Up 150 basis points | 174 | 66 | 108 | 10.2 | % | |||||||||||||||||||||
Up 200 basis points | 232 | 88 | 144 | 13.6 | % | |||||||||||||||||||||
Up 250 basis points | 290 | 110 | 180 | 17.0 | % |
Investments Denominated in Foreign Currencies As of March 31, 2022 | Economic Hedging As of March 31, 2022 | |||||||||||||||||||||||
Cost in Local Currency | Cost in US$ | Fair Value | Reduction in Fair Value as of March 31, 2022 if 10% Adverse Change in Exchange Rate(1) | Net Foreign Currency Hedge Amount in Local Currency | Net Foreign Currency Hedge Amount in U.S. Dollars | |||||||||||||||||||
Australian Dollars | A$ 118.3 | $ | 88.7 | $ | 92.8 | $ | 9.3 | A$ 5.3 | $ | 3.9 | ||||||||||||||
British Pound Sterling | £ 108.1 | 142.1 | 156.3 | 15.6 | £ 19.2 | 25.7 | ||||||||||||||||||
Canadian Dollars | C$ 44.9 | 36.0 | 40.2 | 4.0 | $ 8.8 | 7.0 | ||||||||||||||||||
Euros | € 461.8 | 512.3 | 263.8 | 26.4 | € 72.3 | 82.3 | ||||||||||||||||||
Icelandic Krona | ISK 1,280.0 | 10.0 | 10.4 | 1.0 | ISK — | — | ||||||||||||||||||
Norwegian Krone | NOK 390.6 | 44.6 | 48.4 | 4.8 | NOK 60.7 | 6.9 | ||||||||||||||||||
Swedish Krona | SEK 776.6 | 83.1 | 65.9 | 6.6 | SEK 747.0 | 82.7 | ||||||||||||||||||
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Total | $ | 916.8 | $ | 677.8 | $ | 67.7 | $ | 208.5 | ||||||||||||||||
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Investments Denominated in Foreign Currencies As of September 30, 2022 | Economic Hedging As of September 30, 2022 | |||||||||||||||||||||||||||||||||||||
Cost in Local Currency | Cost in US$ | Fair Value | Reduction in Fair Value as of September 30, 2022 if 10% Adverse Change in Exchange Rate(1) | Net Foreign Currency Hedge Amount in Local Currency | Net Foreign Currency Hedge Amount in U.S. Dollars | |||||||||||||||||||||||||||||||||
Australian Dollars | A$ | 104.3 | $ | 67.1 | $ | 60.3 | $ | 6.0 | A$ | 5.2 | $ | 3.3 | ||||||||||||||||||||||||||
British Pound Sterling | £ | 122.8 | 136.7 | 115.6 | 11.6 | £ | 19.6 | 21.9 | ||||||||||||||||||||||||||||||
Canadian Dollars | $ | 45.2 | 32.9 | 31.9 | 3.2 | $ | 10.3 | 7.5 | ||||||||||||||||||||||||||||||
Euros | € | 474.5 | 464.1 | 207.9 | 20.8 | € | 65.2 | 64.0 | ||||||||||||||||||||||||||||||
Icelandic Krona | ISK | 1,458.5 | 10.1 | 9.1 | 0.9 | — | — | |||||||||||||||||||||||||||||||
Norwegian Krone | NOK | 485.2 | 44.6 | 37.7 | 3.8 | NOK | 45.9 | 4.2 | ||||||||||||||||||||||||||||||
Swedish Krona | SEK | 1,346.8 | 121.0 | 81.2 | 8.1 | SEK | 1,024.3 | 91.9 | ||||||||||||||||||||||||||||||
Total | $ | 876.5 | $ | 543.7 | $ | 54.4 | $ | 192.8 |
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Changes in Internal Control Over Financial Reporting
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As previously disclosed, certain affiliates of the owners of the Advisor committed $100 to a $350 investment vehicle, or the Affiliated Purchaser, that may invest from time to time in shares of the Company. In September 2021, that investment vehicle entered into a written trading plan with a third party broker in accordance with Rule 10b5-1 and Rule 10b-18 promulgated under the Exchange Act, or the September 2021 Affiliated Purchaser Program, to facilitate the purchase of shares of our common stock pursuant to the terms and conditions of such plan. The September 2021 Affiliated Purchaser Program provides for the purchase of up to $100 worth of shares of our common stock, subject to the limitations provided therein. The September 2021 Affiliated Purchase Program has concluded since the aggregate repurchase amount under the plan has been expended.
Period | Total Number of Shares Purchased | Average Price Paid per Share(1) | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs(2) | Maximum Number (or Approximate Dollar Value) of Shares that May Yet Be Purchased Under the Plans or Programs | ||||||||||||
January 1, 2022 through January 31, 2022 | 1,565,424 | $ | 21.74 | 1,565,424 | $ | 121 | ||||||||||
February 1, 2022 through February 28, 2022 | 1,170,309 | 21.94 | 1,170,309 | 96 | ||||||||||||
March 1, 2022 through March 31, 2022 | 769,696 | 22.34 | 769,696 | 79 | ||||||||||||
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3,505,429 | $ | 21.94 | 3,505,429 | |||||||||||||
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Period | Total Number of Shares Purchased | Average Price Paid per Share(1) | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs(2) | Maximum Number (or Approximate Dollar Value) of Shares that May Yet Be Purchased Under the Plans or Programs | ||||||||||||||||||||||
July 1, 2022 through July 31, 2022 | 241,847 | $ | 20.61 | 241,847 | $ | 60 | ||||||||||||||||||||
August 1, 2022 through August 31, 2022 | 132,479 | 21.97 | 132,479 | 57 | ||||||||||||||||||||||
September 1, 2022 through September 30, 2022 | 118,494 | 21.06 | 118,494 | 54 | ||||||||||||||||||||||
492,820 | $ | 21.09 | 492,820 |
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*Filed herewith.
FS KKR CAPITAL CORP. | ||||||
By: | /s/ Michael C. Forman | |||||
Michael C. Forman Chief Executive Officer (Principal Executive Officer) | ||||||
By: | /s/ Steven Lilly | |||||
Steven Lilly Chief Financial Officer (Principal Financial Officer) | ||||||
By: | /s/ William Goebel | |||||
William Goebel
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149