0001422183Transaction Services Group Ltd, Software & Services 12022-12-310001422183fsk:CreditOpportunitiesPartnersJVLLCMemberfsk:CanadianDollarOfferRateMember2023-03-31
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. | |||||||||||
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. | |||||||||||
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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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March 31, 2023 | December 31, 2022 | |||||||||||||
(Unaudited) | ||||||||||||||
Assets | ||||||||||||||
Investments, at fair value | ||||||||||||||
Non-controlled/unaffiliated investments (amortized cost—$12,395 and $12,566, respectively) | $ | 11,861 | $ | 12,026 | ||||||||||
Non-controlled/affiliated investments (amortized cost—$556 and $575, respectively) | 439 | 443 | ||||||||||||
Controlled/affiliated investments (amortized cost—$3,232 and $3,173, respectively) | 2,977 | 2,908 | ||||||||||||
Total investments, at fair value (amortized cost—$16,183 and $16,314, respectively) | $ | 15,277 | $ | 15,377 | ||||||||||
Cash | 245 | 248 | ||||||||||||
Foreign currency, at fair value (cost—$5 and $3, respectively) | 5 | 3 | ||||||||||||
Receivable for investments sold and repaid | 205 | 212 | ||||||||||||
Income receivable | 275 | 227 | ||||||||||||
Unrealized appreciation on foreign currency forward contracts | 21 | 25 | ||||||||||||
Deferred financing costs | 23 | 23 | ||||||||||||
Prepaid expenses and other assets | 7 | 9 | ||||||||||||
Total assets | $ | 16,058 | $ | 16,124 | ||||||||||
Liabilities | ||||||||||||||
Payable for investments purchased | $ | — | $ | 14 | ||||||||||
Debt (net of deferred financing costs of $32 and $34, respectively)(1) | 8,678 | 8,694 | ||||||||||||
Unrealized depreciation on foreign currency forward contracts | 1 | 1 | ||||||||||||
Stockholder distributions payable | 196 | 192 | ||||||||||||
Management fees payable | 58 | 59 | ||||||||||||
Subordinated income incentive fees payable(2) | 46 | 27 | ||||||||||||
Administrative services expense payable | 7 | 6 | ||||||||||||
Interest payable | 74 | 90 | ||||||||||||
Other accrued expenses and liabilities | 15 | 29 | ||||||||||||
Total liabilities | $ | 9,075 | $ | 9,112 | ||||||||||
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, 280,066,433 and 281,731,750 shares issued and outstanding, respectively | 0 | 0 | ||||||||||||
Capital in excess of par value | 9,578 | 9,610 | ||||||||||||
Retained earnings (accumulated deficit)(4) | (2,595) | (2,598) | ||||||||||||
Total stockholders' equity | $ | 6,983 | $ | 7,012 | ||||||||||
Total liabilities and stockholders' equity | $ | 16,058 | $ | 16,124 | ||||||||||
Net asset value per share of common stock at period end | $ | 24.93 | $ | 24.89 |
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 | ||||||||||||||||||||||||||
March 31, | ||||||||||||||||||||||||||
2023 | 2022 | |||||||||||||||||||||||||
Investment income | ||||||||||||||||||||||||||
From non-controlled/unaffiliated investments: | ||||||||||||||||||||||||||
Interest income | $ | 305 | $ | 241 | ||||||||||||||||||||||
Paid-in-kind interest income | 23 | 18 | ||||||||||||||||||||||||
Fee income | 5 | 27 | ||||||||||||||||||||||||
Dividend and other income | 19 | 8 | ||||||||||||||||||||||||
From non-controlled/affiliated investments: | ||||||||||||||||||||||||||
Interest income | 3 | 10 | ||||||||||||||||||||||||
Paid-in-kind interest income | 9 | 11 | ||||||||||||||||||||||||
Fee income | — | 2 | ||||||||||||||||||||||||
Dividend and other income | — | 5 | ||||||||||||||||||||||||
From controlled/affiliated investments: | ||||||||||||||||||||||||||
Interest income | 19 | 10 | ||||||||||||||||||||||||
Paid-in-kind interest income | 10 | 14 | ||||||||||||||||||||||||
Fee income | — | 0 | ||||||||||||||||||||||||
Dividend and other income | 63 | 50 | ||||||||||||||||||||||||
Total investment income | 456 | 396 | ||||||||||||||||||||||||
Operating expenses | ||||||||||||||||||||||||||
Management fees | 58 | 62 | ||||||||||||||||||||||||
Subordinated income incentive fees(1) | 46 | 40 | ||||||||||||||||||||||||
Administrative services expenses | 3 | 4 | ||||||||||||||||||||||||
Accounting and administrative fees | 1 | 1 | ||||||||||||||||||||||||
Interest expense(2) | 114 | 77 | ||||||||||||||||||||||||
Other general and administrative expenses | 5 | 7 | ||||||||||||||||||||||||
Total operating expenses | 227 | 191 | ||||||||||||||||||||||||
Incentive fee waiver(1) | — | (15) | ||||||||||||||||||||||||
Net expenses | 227 | 176 | ||||||||||||||||||||||||
Net investment income | 229 | 220 | ||||||||||||||||||||||||
Realized and unrealized gain/loss | ||||||||||||||||||||||||||
Net realized gain (loss) on investments: | ||||||||||||||||||||||||||
Non-controlled/unaffiliated investments | (58) | (26) | ||||||||||||||||||||||||
Non-controlled/affiliated investments | 0 | (6) | ||||||||||||||||||||||||
Controlled/affiliated investments | — | — | ||||||||||||||||||||||||
Net realized gain (loss) on foreign currency forward contracts | 3 | 5 | ||||||||||||||||||||||||
Net realized gain (loss) on foreign currency | 1 | 1 | ||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments: | ||||||||||||||||||||||||||
Non-controlled/unaffiliated investments | 5 | (40) | ||||||||||||||||||||||||
Non-controlled/affiliated investments | 16 | 30 | ||||||||||||||||||||||||
Controlled/affiliated investments | 10 | 37 | ||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on foreign currency forward contracts | (4) | 1 |
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 | ||||||||||||||||||||||||||
March 31, | ||||||||||||||||||||||||||
2023 | 2022 | |||||||||||||||||||||||||
Net change in unrealized gain (loss) on foreign currency | $ | (3) | $ | 3 | ||||||||||||||||||||||
Total net realized and unrealized gain (loss) | (30) | 5 | ||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | $ | 199 | $ | 225 | ||||||||||||||||||||||
Per share information—basic and diluted | ||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations (Earnings (Losses) per Share) | $ | 0.71 | $ | 0.79 | ||||||||||||||||||||||
Weighted average shares outstanding | 280,919,460 | 284,323,542 |
Three Months Ended | ||||||||||||||||||||||||||
March 31, | ||||||||||||||||||||||||||
2023 | 2022 | |||||||||||||||||||||||||
Operations | ||||||||||||||||||||||||||
Net investment income (loss) | $ | 229 | $ | 220 | ||||||||||||||||||||||
Net realized gain (loss) on investments, foreign currency forward contracts and foreign currency | (54) | (26) | ||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments and foreign currency forward contracts(1) | 27 | 28 | ||||||||||||||||||||||||
Net change in unrealized gain (loss) on foreign currency | (3) | 3 | ||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 199 | 225 | ||||||||||||||||||||||||
Stockholder distributions(2) | ||||||||||||||||||||||||||
Distributions to stockholders | (196) | (179) | ||||||||||||||||||||||||
Net decrease in net assets resulting from stockholder distributions | (196) | (179) | ||||||||||||||||||||||||
Capital share transactions(3) | ||||||||||||||||||||||||||
Repurchases of common stock | (32) | (9) | ||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from capital share transactions | (32) | (9) | ||||||||||||||||||||||||
Total increase (decrease) in net assets | (29) | 37 | ||||||||||||||||||||||||
Net assets at beginning of period | 7,012 | 7,730 | ||||||||||||||||||||||||
Net assets at end of period | $ | 6,983 | $ | 7,767 | ||||||||||||||||||||||
Three Months Ended | |||||||||||||||||
March 31, | |||||||||||||||||
2023 | 2022 | ||||||||||||||||
Cash flows from operating activities | |||||||||||||||||
Net increase (decrease) in net assets resulting from operations | $ | 199 | $ | 225 | |||||||||||||
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities: | |||||||||||||||||
Purchases of investments | (270) | (2,068) | |||||||||||||||
Paid-in-kind interest | (28) | (34) | |||||||||||||||
Proceeds from sales and repayments of investments | 386 | 1,673 | |||||||||||||||
Net realized (gain) loss on investments | 58 | 32 | |||||||||||||||
Net change in unrealized (appreciation) depreciation on investments | (31) | (27) | |||||||||||||||
Net change in unrealized (appreciation) depreciation on foreign currency forward contracts | 4 | (1) | |||||||||||||||
Accretion of discount | (15) | (29) | |||||||||||||||
Amortization of deferred financing costs and discount | 4 | 3 | |||||||||||||||
Unrealized (gain)/loss on borrowings in foreign currency | 4 | (6) | |||||||||||||||
(Increase) decrease in receivable for investments sold and repaid | 7 | (289) | |||||||||||||||
(Increase) decrease in income receivable | (48) | (23) | |||||||||||||||
(Increase) decrease in prepaid expenses and other assets | 2 | — | |||||||||||||||
Increase (decrease) in payable for investments purchased | (14) | 31 | |||||||||||||||
Increase (decrease) in management fees payable | (1) | 2 | |||||||||||||||
Increase (decrease) in subordinated income incentive fees payable | 19 | 6 | |||||||||||||||
Increase (decrease) in administrative services expense payable | 1 | 2 | |||||||||||||||
Increase (decrease) in interest payable | (16) | (4) | |||||||||||||||
Increase (decrease) in other accrued expenses and liabilities | (14) | (13) | |||||||||||||||
Net cash provided by (used in) operating activities | 247 | (520) | |||||||||||||||
Cash flows from financing activities | |||||||||||||||||
Repurchases of common stock | (32) | (9) | |||||||||||||||
Stockholder distributions | (192) | (176) | |||||||||||||||
Borrowings under financing arrangements(1) | 360 | 1,613 | |||||||||||||||
Repayments of financing arrangements(1) | (382) | (907) | |||||||||||||||
Deferred financing costs paid | (2) | (9) | |||||||||||||||
Net cash provided by (used in) financing activities | (248) | 512 | |||||||||||||||
Total increase (decrease) in cash | (1) | (8) | |||||||||||||||
Cash, and foreign currency at beginning of period | 251 | 377 | |||||||||||||||
Cash, and foreign currency at end of period | $ | 250 | $ | 369 | |||||||||||||
Supplemental disclosure | |||||||||||||||||
Non-cash purchases of investments | $ | (19) | $ | (242) | |||||||||||||
Non-cash sales of investments | $ | 19 | $ | 242 | |||||||||||||
Local and excise taxes paid | $ | 19 | $ | 11 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—First Lien—133.5% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3Pillar Global Inc | (v) | Software & Services | SF+600 | 0.8% | 11/23/26 | $ | 0.6 | $ | 0.6 | $ | 0.6 | |||||||||||||||||||||||||||||||||||||||||||||
3Pillar Global Inc | (i)(k)(l) | Software & Services | SF+600 | 0.8% | 11/23/27 | 95.1 | 94.2 | 92.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
3Pillar Global Inc | (v) | Software & Services | SF+600 | 0.8% | 11/23/27 | 6.6 | 6.6 | 6.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
3Pillar Global Inc | (x) | Software & Services | SF+600 | 0.8% | 11/23/26 | 8.6 | 8.6 | 8.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
3Pillar Global Inc | (x) | Software & Services | SF+600 | 0.8% | 11/23/27 | 24.0 | 24.0 | 23.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
48Forty Solutions LLC | (f)(k)(l)(t)(v) | Commercial & Professional Services | SF+550 | 1.0% | 11/30/26 | 182.2 | 180.8 | 180.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
48Forty Solutions LLC | (v) | Commercial & Professional Services | SF+550 | 1.0% | 11/30/26 | 1.1 | 1.1 | 1.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
48Forty Solutions LLC | (x) | Commercial & Professional Services | SF+550 | 1.0% | 11/30/26 | 9.6 | 9.6 | 9.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
5 Arch Income Fund 2 LLC | (q)(r)(w)(y)(z) | Financial Services | 9.0% | 11/18/23 | 88.6 | 64.8 | 37.5 | |||||||||||||||||||||||||||||||||||||||||||||||||
Accuride Corp | (aa)(l) | Capital Goods | L+525 | 1.0% | 11/17/23 | 8.9 | 8.5 | 7.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Advanced Dermatology & Cosmetic Surgery | (m)(t)(v) | Health Care Equipment & Services | SF+650 | 1.0% | 5/7/27 | 46.2 | 44.7 | 45.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Advanced Dermatology & Cosmetic Surgery | (x) | Health Care Equipment & Services | SF+650 | 1.0% | 5/7/26 | 3.6 | 3.6 | 3.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Advanced Dermatology & Cosmetic Surgery | (x) | Health Care Equipment & Services | SF+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 | 106.2 | 87.7 | |||||||||||||||||||||||||||||||||||||||||||||||
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 | 9.6 | |||||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc | (ac)(m)(v) | Health Care Equipment & Services | SF+450, 1.3% PIK (1.3% Max PIK) | 0.8% | 8/2/28 | $ | 56.4 | 56.1 | 55.7 | |||||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc | (ac)(x) | Health Care Equipment & Services | SF+450, 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 | SF+450, 1.3% PIK (1.3% Max PIK) | 0.8% | 8/2/28 | 25.7 | 25.7 | 25.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Alacrity Solutions Group LLC | (v) | Insurance | L+525 | 0.8% | 12/22/27 | 4.9 | 4.7 | 4.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Alacrity Solutions Group LLC | (m)(v) | Insurance | L+525 | 0.8% | 12/22/28 | 28.3 | 27.9 | 27.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Alacrity Solutions Group LLC | (x) | Insurance | L+525 | 0.8% | 12/22/27 | 5.9 | 5.9 | 5.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Alera Group Intermediate Holdings Inc | (m) | Insurance | SF+600 | 0.8% | 10/2/28 | 9.1 | 9.1 | 8.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Alera Group Intermediate Holdings Inc | (m)(v) | Insurance | SF+600 | 0.8% | 10/2/28 | 22.5 | 22.5 | 21.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
American Vision Partners | (v) | Health Care Equipment & Services | SF+575 | 0.8% | 9/30/26 | 3.1 | 3.1 | 3.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
American Vision Partners | (i)(v) | Health Care Equipment & Services | SF+575 | 0.8% | 9/30/27 | 74.1 | 73.5 | 71.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
American Vision Partners | (v) | Health Care Equipment & Services | SF+575 | 0.8% | 9/30/27 | 38.6 | 38.6 | 37.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
American Vision Partners | (x) | Health Care Equipment & Services | SF+575 | 0.8% | 9/30/26 | 4.7 | 4.7 | 4.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Amerivet Partners Management Inc | (v) | Health Care Equipment & Services | SF+550 | 0.8% | 2/25/28 | 113.6 | 112.7 | 109.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Amerivet Partners Management Inc | (x) | Health Care Equipment & Services | SF+550 | 0.8% | 2/25/28 | 8.4 | 8.4 | 8.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Amerivet Partners Management Inc | (x) | Health Care Equipment & Services | SF+550 | 0.8% | 2/25/28 | 48.8 | 48.8 | 47.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Apex Group Limited | (aa)(m)(w) | Financial Services | L+375 | 0.5% | 7/27/28 | 2.5 | 2.5 | 2.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Apex Group Limited | (aa)(v)(w) | Financial Services | E+400 | 0.0% | 7/27/28 | € | 2.0 | 2.3 | 2.1 | |||||||||||||||||||||||||||||||||||||||||||||||
Arcfield Acquisition Corp | (i)(t) | Capital Goods | L+575 | 0.8% | 3/10/28 | $ | 40.2 | 39.9 | 39.6 | |||||||||||||||||||||||||||||||||||||||||||||||
Arcfield Acquisition Corp | (x) | Capital Goods | L+575 | 0.8% | 3/10/27 | 7.1 | 7.1 | 7.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Arcos LLC/VA | (m) | Software & Services | L+575 | 1.0% | 3/31/28 | 12.3 | 12.1 | 11.3 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Arcos LLC/VA | (x) | Software & Services | L+575 | 1.0% | 4/20/27 | $ | 4.5 | $ | 4.5 | $ | 4.1 | |||||||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (v)(w) | Insurance | SA+725 | 0.8% | 7/14/26 | £ | 0.8 | 1.0 | 1.0 | |||||||||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (v)(w) | Insurance | E+725 | 1.0% | 7/14/26 | € | 19.0 | 19.3 | 20.3 | |||||||||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (v)(w) | Insurance | SF+700 | 0.8% | 7/14/26 | $ | 9.9 | 9.3 | 9.7 | |||||||||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (w)(x) | Insurance | SF+700 | 0.8% | 7/14/26 | 9.9 | 9.9 | 9.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Arrotex Australia Group Pty Ltd | (v)(w) | Pharmaceuticals, Biotechnology & Life Sciences | B+525 | 1.0% | 7/10/24 | A$ | 42.6 | 31.3 | 28.5 | |||||||||||||||||||||||||||||||||||||||||||||||
Arrotex Australia Group Pty Ltd | (v)(w) | Pharmaceuticals, Biotechnology & Life Sciences | B+525 | 1.0% | 7/10/24 | 3.1 | 2.2 | 2.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp | (ad)(s)(v)(w) | Capital Goods | L+750 | 1.0% | 9/1/26 | $ | 55.6 | 55.6 | 55.6 | |||||||||||||||||||||||||||||||||||||||||||||||
AxiomSL Ltd | (f)(m)(t)(v) | Software & Services | L+575 | 1.0% | 12/3/27 | 34.6 | 34.1 | 33.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
AxiomSL Ltd | (x) | Software & Services | L+575 | 1.0% | 12/3/25 | 2.5 | 2.5 | 2.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
AxiomSL Ltd | (x) | Software & Services | L+575 | 1.0% | 12/3/27 | 2.3 | 2.3 | 2.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Barbri Inc | (f)(k)(l)(m)(t) | Consumer Services | SF+575 | 0.8% | 4/28/28 | 61.3 | 57.7 | 60.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Barbri Inc | (v) | Consumer Services | SF+575 | 0.8% | 4/28/28 | 29.9 | 29.9 | 29.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Barbri Inc | (k)(l) | Consumer Services | SF+575 | 0.8% | 4/28/28 | 34.7 | 34.4 | 34.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Barbri Inc | (v) | Consumer Services | SF+575 | 0.8% | 4/28/28 | 5.6 | 5.6 | 5.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Barbri Inc | (x) | Consumer Services | SF+575 | 0.8% | 4/28/28 | 9.1 | 9.1 | 9.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc | (aa)(ac)(v) | Consumer Discretionary Distribution & Retail | L+750 | 1.0% | 7/31/25 | 21.9 | 21.8 | 18.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc | (aa)(ac)(v)(y)(z) | Consumer Discretionary Distribution & Retail | 5.0%, 8.0% PIK (8.0% Max PIK) | 7/31/25 | 72.1 | 42.3 | 12.5 | |||||||||||||||||||||||||||||||||||||||||||||||||
BGB Group LLC | (f)(i)(k)(l)(m)(t) | Media & Entertainment | L+575 | 1.0% | 8/16/27 | 110.8 | 110.0 | 107.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
BGB Group LLC | (x) | Media & Entertainment | L+575 | 1.0% | 8/16/27 | 19.9 | 19.9 | 19.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Bowery Farming Inc | (v) | Food, Beverage & Tobacco | L+1,000 | 1.0% | 4/30/26 | 75.0 | 74.4 | 70.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Caldic BV | (aa)(v)(w) | Consumer Discretionary Distribution & Retail | E+350 | 0.0% | 2/4/29 | € | 0.8 | 0.9 | 0.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Caldic BV | (aa)(m)(w) | Consumer Discretionary Distribution & Retail | SF+375 | 0.5% | 2/26/29 | $ | 1.4 | 1.4 | 1.4 | |||||||||||||||||||||||||||||||||||||||||||||||
Careismatic Brands Inc | (v) | Health Care Equipment & Services | SF+675 | 1.0% | 3/9/25 | 15.0 | 15.0 | 15.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Careismatic Brands Inc | (x) | Health Care Equipment & Services | SF+675 | 1.0% | 3/9/25 | 15.0 | 15.0 | 15.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
CFC Underwriting Ltd | (w)(x) | Insurance | SA+550, 0.0% PIK (2.8% Max PIK) | 0.0% | 5/16/29 | £ | 4.7 | 5.7 | 5.7 | |||||||||||||||||||||||||||||||||||||||||||||||
Circana Group (f.k.a. NPD Group) | (v) | Consumer Services | SF+575 | 0.8% | 12/1/27 | $ | 0.1 | 0.1 | 0.1 | |||||||||||||||||||||||||||||||||||||||||||||||
Circana Group (f.k.a. NPD Group) | (m)(v) | Consumer Services | SF+350, 2.8% PIK (2.8% Max PIK) | 0.8% | 12/1/28 | 19.2 | 19.2 | 19.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Circana Group (f.k.a. NPD Group) | (x) | Consumer Services | SF+575 | 0.8% | 12/1/27 | 0.9 | 0.9 | 0.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Clarience Technologies LLC | (f)(i)(k)(m)(s)(v) | Capital Goods | SF+625 | 1.0% | 12/14/26 | 293.2 | 284.3 | 287.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Clarience Technologies LLC | (x) | Capital Goods | SF+625 | 1.0% | 12/13/24 | 25.4 | 25.3 | 25.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Community Brands Inc | (v) | Software & Services | SF+575 | 0.8% | 2/24/28 | 32.6 | 32.1 | 31.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Community Brands Inc | (x) | Software & Services | SF+575 | 0.8% | 2/24/28 | 3.9 | 3.8 | 3.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
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% | 9/27/25 | 15.0 | 14.5 | 15.0 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Corsearch Intermediate Inc | (m)(v) | Software & Services | L+550 | 1.0% | 4/19/28 | $ | 30.1 | $ | 28.6 | $ | 29.9 | |||||||||||||||||||||||||||||||||||||||||||||
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 | SF+625 | 1.0% | 12/23/27 | 186.4 | 181.2 | 186.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
CSafe Global | (v) | Capital Goods | SF+625 | 1.0% | 12/23/27 | £ | 27.1 | 35.8 | 33.5 | |||||||||||||||||||||||||||||||||||||||||||||||
CSafe Global | (m)(v) | Capital Goods | SF+625 | 1.0% | 8/13/28 | $ | 11.8 | 11.8 | 11.8 | |||||||||||||||||||||||||||||||||||||||||||||||
CSafe Global | (x) | Capital Goods | SF+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+641 | 0.8% | 4/3/28 | 136.8 | 133.2 | 134.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
DOC Generici Srl | (v)(w) | Pharmaceuticals, Biotechnology & Life Sciences | E+650 | 0.0% | 10/27/28 | € | 23.1 | 22.5 | 24.6 | |||||||||||||||||||||||||||||||||||||||||||||||
DOC Generici Srl | (v)(w) | Pharmaceuticals, Biotechnology & Life Sciences | E+650 | 0.0% | 10/28/28 | 0.1 | — | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
DOC Generici Srl | (w)(x) | Pharmaceuticals, Biotechnology & Life Sciences | E+650 | 0.0% | 10/28/28 | 2.3 | 2.3 | 2.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Element Materials Technology Group US Holdings Inc | (aa)(m)(w) | Commercial & Professional Services | SF+425 | 0.5% | 6/22/29 | $ | 1.4 | 1.4 | 1.4 | |||||||||||||||||||||||||||||||||||||||||||||||
Element Materials Technology Group US Holdings Inc | (aa)(v)(w) | Commercial & Professional Services | E+425 | 0.0% | 7/6/29 | € | 0.3 | 0.4 | 0.4 | |||||||||||||||||||||||||||||||||||||||||||||||
Encora Digital Inc | (v) | Commercial & Professional Services | L+550 | 0.8% | 12/20/28 | $ | 19.6 | 19.3 | 18.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Encora Digital Inc | (v) | Commercial & Professional Services | L+550, 0.0% PIK (2.4% Max PIK) | 0.8% | 12/20/28 | 65.1 | 64.0 | 62.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 0.9 | 0.9 | 0.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Excelitas Technologies Corp | (v) | Technology Hardware & Equipment | SF+575 | 0.8% | 8/12/29 | 1.7 | 1.7 | 1.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
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 | 3.1 | 3.1 | 3.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Follett Software Co | (f)(k)(l)(t) | Software & Services | SF+575 | 0.8% | 8/31/28 | 73.5 | 72.9 | 72.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Follett Software Co | (x) | Software & Services | SF+575 | 0.8% | 8/31/27 | 9.9 | 9.9 | 9.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Foundation Consumer Brands LLC | (f)(m)(v) | Pharmaceuticals, Biotechnology & Life Sciences | L+550 | 1.0% | 2/12/27 | 81.5 | 78.2 | 82.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
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 | (m)(v) | Insurance | SF+600 | 0.8% | 10/29/28 | 79.7 | 78.6 | 77.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Foundation Risk Partners Corp | (x) | Insurance | SF+600 | 0.8% | 10/29/27 | 7.0 | 6.9 | 6.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Galaxy Universal LLC | (v) | Consumer Durables & Apparel | SF+575 | 1.0% | 6/24/23 | 7.5 | 7.5 | 7.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Galaxy Universal LLC | (v) | Consumer Durables & Apparel | SF+575 | 1.0% | 11/12/26 | 87.8 | 87.8 | 84.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Galaxy Universal LLC | (v) | Consumer Durables & Apparel | SF+500 | 1.0% | 11/12/26 | 18.3 | 18.2 | 17.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Galway Partners Holdings LLC | (v) | Insurance | SF+525, 0.0% PIK (1.3% Max PIK) | 0.8% | 9/30/27 | 2.6 | 2.4 | 2.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Galway Partners Holdings LLC | (k)(l)(m)(t)(v) | Insurance | SF+525, 0.0% PIK (1.3% Max PIK) | 0.8% | 9/29/28 | 110.8 | 109.2 | 108.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Galway Partners Holdings LLC | (x) | Insurance | SF+525, 0.0% PIK (1.3% Max PIK) | 0.8% | 9/30/27 | 9.4 | 9.4 | 9.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Galway Partners Holdings LLC | (x) | Insurance | SF+525, 0.0% PIK (1.3% Max PIK) | 0.8% | 9/29/28 | 1.3 | 1.3 | 1.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
General Datatech LP | (f)(k)(l)(m)(t)(v) | Software & Services | SF+625 | 1.0% | 6/18/27 | 155.4 | 154.2 | 148.9 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Gigamon Inc | (v) | Software & Services | SF+575 | 0.8% | 3/9/29 | $ | 168.4 | $ | 167.0 | $ | 164.7 | |||||||||||||||||||||||||||||||||||||||||||||
Gigamon Inc | (x) | Software & Services | SF+575 | 0.8% | 3/10/28 | 9.3 | 9.3 | 9.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Gracent LLC | (v) | Health Care Equipment & Services | SF+550 | 1.0% | 2/28/27 | 25.8 | 26.5 | 22.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Gracent LLC | (v)(y)(z) | Health Care Equipment & Services | 12.0% PIK (12.0% Max PIK) | 2/28/27 | 23.5 | 22.9 | 9.1 | |||||||||||||||||||||||||||||||||||||||||||||||||
Greystone Equity Member Corp | (v)(w) | Financial Services | L+725 | 3.8% | 4/1/26 | 194.8 | 185.6 | 187.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Heniff Transportation Systems LLC | (v) | Transportation | SF+575 | 1.0% | 12/3/24 | 3.5 | 3.3 | 3.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Heniff Transportation Systems LLC | (f)(i)(k)(l)(m)(v) | Transportation | SF+575 | 1.0% | 12/3/26 | 134.9 | 129.2 | 132.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Heniff Transportation Systems LLC | (v) | Transportation | SF+625 | 1.0% | 12/3/26 | 19.0 | 18.3 | 18.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Heniff Transportation Systems LLC | (x) | Transportation | SF+575 | 1.0% | 12/3/24 | 14.3 | 14.3 | 14.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Hibu Inc | (f)(k)(l)(m)(t)(v) | Commercial & Professional Services | SF+625 | 1.0% | 5/4/27 | 98.3 | 94.4 | 99.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Higginbotham Insurance Agency Inc | (v) | Insurance | L+550 | 0.8% | 11/25/26 | 6.6 | 6.6 | 6.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Higginbotham Insurance Agency Inc | (v) | Insurance | L+525 | 0.8% | 11/25/26 | 7.0 | 6.6 | 6.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Higginbotham Insurance Agency Inc | (x) | Insurance | L+550 | 0.8% | 11/25/26 | 3.7 | 3.7 | 3.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
HKA | (m)(v)(w) | Commercial & Professional Services | SF+575, 0.0% PIK (1.8% Max PIK) | 0.5% | 8/9/29 | 4.4 | 4.3 | 4.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
HKA | (w)(x) | Commercial & Professional Services | SF+575, 0.0% PIK (1.8% Max PIK) | 0.5% | 8/9/29 | 0.2 | 0.2 | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc | (ad)(v) | Capital Goods | L+600, 0.0% PIK (6.0% Max PIK) | 1.0% | 6/30/26 | 35.3 | 35.3 | 35.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc | (ad)(x) | Capital Goods | L+600, 0.0% PIK (6.0% Max PIK) | 1.0% | 6/30/26 | 2.0 | 2.0 | 2.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Individual FoodService | (s)(v) | Capital Goods | SF+625 | 1.0% | 11/22/25 | 103.8 | 100.7 | 103.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Individual FoodService | (x) | Capital Goods | SF+625 | 1.0% | 11/22/24 | 4.8 | 4.7 | 4.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Individual FoodService | (x) | Capital Goods | SF+625 | 1.0% | 11/22/25 | 1.1 | 1.1 | 1.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Industria Chimica Emiliana Srl | (v)(w) | Pharmaceuticals, Biotechnology & Life Sciences | E+725 | 0.0% | 9/27/26 | € | 88.8 | 102.3 | 94.0 | |||||||||||||||||||||||||||||||||||||||||||||||
Industry City TI Lessor LP | (s)(v) | Consumer Services | 10.8%, 1.0% PIK (1.0% Max PIK) | 6/30/26 | $ | 24.5 | 24.5 | 24.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
iNova Pharmaceuticals (Australia) Pty Limited | (w)(x) | Pharmaceuticals, Biotechnology & Life Sciences | B+650 | 0.8% | 10/30/28 | A$ | 3.5 | 2.2 | 2.2 | |||||||||||||||||||||||||||||||||||||||||||||||
Insight Global LLC | (i)(v) | Commercial & Professional Services | SF+600 | 0.8% | 9/22/28 | $ | 202.7 | 201.1 | 197.7 | |||||||||||||||||||||||||||||||||||||||||||||||
Insight Global LLC | (x) | Commercial & Professional Services | SF+600 | 0.8% | 9/22/27 | 21.1 | 21.1 | 20.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Insight Global LLC | (x) | Commercial & Professional Services | SF+600 | 0.8% | 9/22/28 | 26.8 | 26.8 | 26.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Integrity Marketing Group LLC | (v) | Insurance | L+602 | 0.8% | 8/27/25 | 124.1 | 124.1 | 122.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
J S Held LLC | (f)(i)(s)(v) | Insurance | L+550 | 1.0% | 7/1/25 | 124.9 | 123.0 | 122.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
J S Held LLC | (v) | Insurance | L+550 | 1.0% | 7/1/25 | 12.8 | 12.7 | 12.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
J S Held LLC | (f)(v) | Insurance | SF+550 | 1.0% | 7/1/25 | 26.6 | 26.6 | 26.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
J S Held LLC | (x) | Insurance | L+550 | 1.0% | 7/1/25 | 1.3 | 1.3 | 1.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
J S Held LLC | (x) | Insurance | SF+550 | 1.0% | 7/1/25 | 17.4 | 17.4 | 17.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Jarrow Formulas Inc | (f)(i)(k)(l)(m)(s)(t)(v) | Household & Personal Products | SF+625 | 1.0% | 11/30/26 | 180.6 | 173.3 | 177.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Karman Space Inc | (v) | Capital Goods | L+700 | 1.0% | 12/21/25 | 87.7 | 85.1 | 86.1 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Karman Space Inc | (v) | Capital Goods | L+700 | 1.0% | 12/21/25 | $ | 4.7 | $ | 4.5 | $ | 4.6 | |||||||||||||||||||||||||||||||||||||||||||||
Karman Space Inc | (x) | Capital Goods | L+700 | 1.0% | 12/21/25 | 0.8 | 0.8 | 0.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Kellermeyer Bergensons Services LLC | (f)(i)(k)(l)(m)(s)(t)(v) | Commercial & Professional Services | L+600 | 1.0% | 11/7/26 | 368.0 | 358.5 | 339.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Laboratoires Vivacy SAS | (v)(w) | Pharmaceuticals, Biotechnology & Life Sciences | E+675, 0.0% PIK (2.4% Max PIK) | 0.0% | 9/30/30 | € | 7.8 | 8.0 | 8.1 | |||||||||||||||||||||||||||||||||||||||||||||||
Laboratoires Vivacy SAS | (w)(x) | Pharmaceuticals, Biotechnology & Life Sciences | E+675, 0.0% PIK (2.4% Max PIK) | 0.0% | 9/30/30 | 0.6 | 0.7 | 0.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lakefield Veterinary Group | (f)(i)(m)(v) | Health Care Equipment & Services | SF+550 | 0.8% | 11/23/28 | $ | 108.9 | 108.2 | 104.6 | |||||||||||||||||||||||||||||||||||||||||||||||
Lakefield Veterinary Group | (x) | Health Care Equipment & Services | SF+550 | 0.8% | 11/23/28 | 34.3 | 34.3 | 33.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lakeview Farms Inc | (l)(m)(v) | Food, Beverage & Tobacco | SF+625 | 1.0% | 6/10/27 | 76.0 | 74.5 | 73.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lakeview Farms Inc | (v) | Food, Beverage & Tobacco | SF+625 | 1.0% | 6/10/27 | 3.9 | 3.9 | 3.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lakeview Farms Inc | (x) | Food, Beverage & Tobacco | SF+625 | 1.0% | 6/10/27 | 10.8 | 10.8 | 10.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lakeview Farms Inc | (x) | Food, Beverage & Tobacco | SF+625 | 1.0% | 6/10/27 | 2.8 | 2.8 | 2.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lexitas Inc | (v) | Commercial & Professional Services | SF+675 | 1.0% | 5/18/29 | 0.8 | 0.8 | 0.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lexitas Inc | (i)(k)(l)(m)(v) | Commercial & Professional Services | SF+675 | 1.0% | 5/18/29 | 132.8 | 130.0 | 131.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lexitas Inc | (x) | Commercial & Professional Services | SF+675 | 1.0% | 5/18/29 | 7.6 | 7.6 | 7.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lionbridge Technologies Inc | (f)(k)(s)(t)(v) | Media & Entertainment | SF+700 | 1.0% | 12/29/25 | 119.4 | 116.1 | 120.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lipari Foods LLC | (f)(i)(m)(v) | Consumer Staples Distribution & Retail | SF+650 | 1.0% | 10/31/28 | 97.3 | 96.0 | 97.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lipari Foods LLC | (x) | Consumer Staples Distribution & Retail | SF+650 | 1.0% | 10/31/28 | 26.0 | 26.0 | 26.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lloyd's Register Quality Assurance Ltd | (v)(w) | Consumer Services | SA+575, 0.0% PIK (2.9% Max PIK) | 0.0% | 12/2/28 | £ | 5.7 | 7.4 | 6.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Lloyd's Register Quality Assurance Ltd | (w)(x) | Consumer Services | SA+575, 0.0% PIK (2.9% Max PIK) | 0.0% | 12/2/28 | 9.3 | 12.6 | 12.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Magna Legal Services LLC | (m)(v) | Commercial & Professional Services | SF+650 | 0.8% | 11/22/29 | $ | 23.0 | 22.8 | 22.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Magna Legal Services LLC | (x) | Commercial & Professional Services | SF+650 | 0.8% | 11/22/28 | 2.2 | 2.2 | 2.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Magna Legal Services LLC | (x) | Commercial & Professional Services | SF+650 | 0.8% | 11/22/29 | 0.6 | 0.6 | 0.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Matchesfashion Ltd | (v)(w)(y)(z) | Consumer Durables & Apparel | L+463, 3.0% PIK (3.0% Max PIK) | 0.0% | 10/11/24 | 13.3 | 12.2 | 2.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
MB2 Dental Solutions LLC | (v) | Health Care Equipment & Services | SF+600 | 1.0% | 1/29/27 | 55.8 | 55.1 | 54.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
MB2 Dental Solutions LLC | (k)(l)(m)(t)(v) | Health Care Equipment & Services | SF+600 | 1.0% | 1/29/27 | 139.6 | 131.9 | 137.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
MB2 Dental Solutions LLC | (v) | Health Care Equipment & Services | SF+600 | 1.0% | 1/29/27 | 71.9 | 71.9 | 70.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Medallia Inc | (m)(v) | Software & Services | L+325, 3.3% PIK (3.3% Max PIK) | 0.8% | 10/29/28 | 210.7 | 208.7 | 204.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Med-Metrix | (i)(m)(t)(v) | Software & Services | SF+600 | 1.0% | 9/15/27 | 56.0 | 55.6 | 56.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Med-Metrix | (x) | Software & Services | SF+600 | 1.0% | 9/15/27 | 25.0 | 25.0 | 25.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Med-Metrix | (x) | Software & Services | SF+600 | 1.0% | 9/15/27 | 7.8 | 7.8 | 7.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Miami Beach Medical Group LLC | (m)(v) | Health Care Equipment & Services | SF+650, 1.5% PIK (1.5% Max PIK) | 1.0% | 12/14/27 | 132.0 | 126.6 | 116.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Monitronics International Inc | (aa)(f)(v)(y)(z) | Commercial & Professional Services | L+750 | 1.3% | 3/29/24 | 18.6 | 17.7 | 7.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Monitronics International Inc | (v) | Commercial & Professional Services | L+600 | 1.5% | 7/3/24 | 54.3 | 52.7 | 50.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Monitronics International Inc | (x) | Commercial & Professional Services | L+600 | 1.5% | 7/3/24 | 15.7 | 15.7 | 14.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Motion Recruitment Partners LLC | (f)(i)(v) | Commercial & Professional Services | SF+650 | 1.0% | 12/20/25 | 63.8 | 63.8 | 63.7 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Motion Recruitment Partners LLC | (t)(v) | Commercial & Professional Services | SF+650 | 1.0% | 12/22/25 | $ | 54.5 | $ | 51.3 | $ | 54.4 | |||||||||||||||||||||||||||||||||||||||||||||
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) | Consumer Durables & Apparel | SF+1,000 PIK (SF+1,000 Max PIK) | 1.0% | 6/30/23 | 26.1 | 26.1 | 26.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
NBG Home | (v)(y)(z) | Consumer Durables & Apparel | L+550 | 1.0% | 4/26/24 | 63.2 | 57.2 | 23.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
NBG Home | (x) | Consumer Durables & Apparel | SF+1,000 PIK (SF+1,000 Max PIK) | 1.0% | 6/30/23 | 1.0 | 1.0 | 1.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
NCI Inc | (ad)(v) | Software & Services | SF+750 PIK (SF+750 Max PIK) | 1.0% | 8/15/28 | 29.2 | 29.5 | 29.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Documents | (v) | Software & Services | SF+625 | 1.0% | 6/30/27 | 33.0 | 32.8 | 32.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Documents | (v) | Software & Services | SF+625 | 1.0% | 6/30/27 | 0.3 | 0.3 | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Documents | (x) | Software & Services | SF+625 | 1.0% | 6/30/27 | 2.7 | 2.7 | 2.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
New Era Technology Inc | (i)(l)(t)(v) | Software & Services | SF+625 | 1.0% | 10/31/26 | 34.2 | 32.8 | 33.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
New Era Technology Inc | (v) | Software & Services | SF+625 | 1.0% | 10/31/26 | 3.5 | 3.5 | 3.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
New Era Technology Inc | (i)(t) | Software & Services | SF+625 | 1.0% | 10/31/26 | 16.7 | 16.7 | 16.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
New Era Technology Inc | (x) | Software & Services | SF+625 | 1.0% | 10/31/26 | 1.2 | 1.2 | 1.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Novotech Pty Ltd | (w)(x) | Health Care Equipment & Services | SF+525 | 0.5% | 1/13/28 | 5.7 | 5.6 | 5.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Omnimax International Inc | (f)(i)(k)(l)(m)(v) | Capital Goods | SF+850 | 1.0% | 10/8/26 | 174.0 | 167.4 | 165.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc | (aa)(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)(v) | Commercial & Professional Services | SF+600 | 1.0% | 8/17/27 | 87.3 | 86.6 | 87.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Oxford Global Resources LLC | (v) | Commercial & Professional Services | SF+600 | 1.0% | 8/17/27 | 3.1 | 3.1 | 3.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Oxford Global Resources LLC | (v) | Commercial & Professional Services | SF+600 | 1.0% | 8/17/27 | 7.3 | 7.3 | 7.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Oxford Global Resources LLC | (x) | Commercial & Professional Services | SF+600 | 1.0% | 8/17/27 | 4.6 | 4.6 | 4.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Oxford Global Resources LLC | (x) | Commercial & Professional Services | SF+600 | 1.0% | 8/17/27 | 8.0 | 8.0 | 8.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Parts Town LLC | (m)(t)(v) | Consumer Discretionary Distribution & Retail | SF+598 | 0.8% | 11/1/28 | 100.1 | 99.3 | 97.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
PartsSource Inc | (v) | Health Care Equipment & Services | L+575 | 0.8% | 8/21/26 | 1.0 | 0.9 | 0.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
PartsSource Inc | (v) | Health Care Equipment & Services | L+575 | 0.8% | 8/23/28 | 64.9 | 64.3 | 63.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
PartsSource Inc | (x) | Health Care Equipment & Services | L+575 | 0.8% | 8/21/26 | 3.3 | 3.3 | 3.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
PartsSource Inc | (x) | Health Care Equipment & Services | L+575 | 0.8% | 8/23/28 | 22.9 | 22.7 | 22.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Performance Health Holdings Inc | (f)(i)(m)(v) | Health Care Equipment & Services | L+600 | 1.0% | 7/12/27 | 108.3 | 107.4 | 106.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | (ad)(v) | Media & Entertainment | SF+500, 3.1% PIK (3.1% Max PIK) | 1.0% | 8/21/24 | 62.4 | 60.1 | 64.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | (ad)(v) | Media & Entertainment | SF+300, 5.5% PIK (5.5% Max PIK) | 0.3% | 8/21/24 | 153.1 | 148.2 | 156.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | (ad)(v) | Media & Entertainment | SF+550 PIK (SF+550 Max PIK) | 1.0% | 8/21/24 | 0.1 | 0.1 | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | (ad)(v) | Media & Entertainment | SF+500, 3.1% PIK (3.1% Max PIK) | 1.0% | 8/21/24 | 34.3 | 34.2 | 34.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
PSKW LLC (dba ConnectiveRx) | (i)(l)(m)(s)(t)(v) | Health Care Equipment & Services | L+625 | 1.0% | 3/9/26 | 291.0 | 282.6 | 291.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Pure Fishing Inc | (aa)(v) | Consumer Durables & Apparel | L+450 | 0.0% | 12/22/25 | 33.6 | 33.1 | 20.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Radwell International LLC/PA | (v) | Capital Goods | SF+675 | 0.8% | 4/1/28 | 0.9 | 0.9 | 0.9 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Radwell International LLC/PA | (m) | Capital Goods | SF+653 | 0.8% | 4/1/29 | $ | 1.0 | $ | 1.0 | $ | 1.0 | |||||||||||||||||||||||||||||||||||||||||||||
Radwell International LLC/PA | (i)(k)(l)(t) | Capital Goods | SF+675 | 0.8% | 4/1/29 | 91.9 | 91.9 | 92.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Radwell International LLC/PA | (x) | Capital Goods | SF+675 | 0.8% | 4/1/28 | 6.0 | 6.0 | 6.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Reliant Rehab Hospital Cincinnati LLC | (f)(i)(l)(s)(v) | Health Care Equipment & Services | L+625 | 0.0% | 3/2/26 | 105.1 | 100.5 | 69.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Revere Superior Holdings Inc | (m)(v) | Software & Services | L+575 | 1.0% | 9/30/26 | 33.4 | 32.8 | 33.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
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 | SF+650 | 1.0% | 8/13/27 | 0.7 | 0.6 | 0.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Rise Baking Company | (l)(m)(v) | Food, Beverage & Tobacco | SF+650 | 1.0% | 8/13/27 | 28.5 | 27.9 | 27.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Rise Baking Company | (x) | Food, Beverage & Tobacco | SF+650 | 1.0% | 8/13/27 | 4.6 | 4.6 | 4.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
RSC Insurance Brokerage Inc | (i)(k)(l)(s)(v) | Insurance | SF+550 | 0.8% | 10/30/26 | 239.4 | 234.0 | 235.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
RSC Insurance Brokerage Inc | (v) | Insurance | SF+550 | 0.8% | 10/30/26 | 4.8 | 4.7 | 4.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
RSC Insurance Brokerage Inc | (x) | Insurance | SF+550 | 0.8% | 10/30/26 | 3.0 | 3.0 | 2.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Safe-Guard Products International LLC | (f) | Financial Services | L+500 | 0.5% | 1/27/27 | 0.1 | 0.1 | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
SAMBA Safety Inc | (m) | Software & Services | L+525 | 1.0% | 9/1/27 | 6.0 | 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+525 | 0.8% | 10/12/28 | 6.1 | 6.0 | 6.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
SavATree LLC | (x) | Consumer Services | L+525 | 0.8% | 10/12/28 | 3.4 | 3.4 | 3.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
SavATree LLC | (x) | Consumer Services | L+525 | 0.8% | 10/12/28 | 6.3 | 6.3 | 6.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sequel Youth & Family Services LLC | (v)(y)(z) | Health Care Equipment & Services | 3.0% | 2/28/25 | 57.2 | 8.9 | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||||||
SitusAMC Holdings Corp | (k)(l)(t) | Real Estate Management & Development | L+550 | 0.8% | 12/22/27 | 55.0 | 54.6 | 53.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Solina France SASU | (m)(v)(w) | Food, Beverage & Tobacco | SF+650 | 0.0% | 7/31/28 | 19.5 | 18.9 | 19.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sorenson Communications LLC | (aa)(f)(k)(t) | Telecommunication Services | L+550 | 0.8% | 3/17/26 | 32.5 | 30.9 | 31.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Source Code LLC | (k)(l)(t) | Software & Services | SF+650 | 1.0% | 6/30/27 | 52.6 | 51.8 | 51.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
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 | SF+550 | 1.0% | 1/20/27 | 68.0 | 65.3 | 68.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Spins LLC | (x) | Software & Services | L+550 | 1.0% | 1/20/27 | 7.9 | 7.9 | 7.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Spins LLC | (x) | Software & Services | L+550 | 1.0% | 1/20/27 | 16.5 | 16.5 | 16.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Spotless Brands LLC | (v) | Consumer Services | SF+650 | 1.0% | 7/25/28 | 12.4 | 12.2 | 12.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Spotless Brands LLC | (x) | Consumer Services | SF+675 | 1.0% | 7/25/28 | 18.7 | 18.4 | 18.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Staples Canada | (v)(w) | Consumer Discretionary Distribution & Retail | C+700 | 1.0% | 9/12/24 | C$ | 29.2 | 22.8 | 22.0 | |||||||||||||||||||||||||||||||||||||||||||||||
Summit Interconnect Inc | (f)(k)(l)(m)(t)(v) | Capital Goods | SF+600 | 1.0% | 9/22/28 | $ | 136.2 | 135.2 | 128.6 | |||||||||||||||||||||||||||||||||||||||||||||||
Summit Interconnect Inc | (x) | Capital Goods | SF+600 | 1.0% | 9/22/28 | 9.4 | 9.4 | 8.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc | (v)(y)(z) | Software & Services | SF+375, 3.8% PIK (3.8% Max PIK) | 1.0% | 7/1/24 | 4.0 | 3.7 | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc | (v)(y)(z) | Software & Services | SF+375, 3.8% PIK (3.8% Max PIK) | 1.0% | 7/1/24 | 2.1 | 2.0 | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Sweeping Corp of America Inc | (m)(v) | Commercial & Professional Services | L+575 | 1.0% | 11/30/26 | 72.0 | 70.1 | 71.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sweeping Corp of America Inc | (v) | Commercial & Professional Services | L+575 | 1.0% | 11/30/26 | 3.1 | 3.0 | 3.0 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Sweeping Corp of America Inc | (x) | Commercial & Professional Services | L+575 | 1.0% | 11/30/26 | $ | 2.6 | $ | 2.6 | $ | 2.6 | |||||||||||||||||||||||||||||||||||||||||||||
Tangoe LLC | (ab)(m)(s)(v) | Software & Services | L+650 | 1.0% | 11/28/25 | 179.5 | 166.2 | 148.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Tangoe LLC | (m)(s)(v) | Software & Services | 12.5% PIK (12.5% Max PIK) | 11/28/25 | 4.7 | 4.7 | 3.2 | |||||||||||||||||||||||||||||||||||||||||||||||||
TeamSystem SpA | (v)(w) | Software & Services | E+625 | 0.0% | 2/15/28 | € | 19.8 | 18.9 | 22.1 | |||||||||||||||||||||||||||||||||||||||||||||||
Tekfor HoldCo (formerly Amtek Global Technology Pte Ltd) | (ad)(v)(w)(y) | Automobiles & Components | 37.3 | 40.1 | 4.0 | |||||||||||||||||||||||||||||||||||||||||||||||||||
ThermaSys Corp | (ac)(v)(y)(z) | Capital Goods | L+1,100 PIK (L+1,100 Max PIK) | 1.0% | 1/1/24 | $ | 10.0 | 8.3 | 6.1 | |||||||||||||||||||||||||||||||||||||||||||||||
ThreeSixty Group | (f)(v) | Consumer Discretionary Distribution & Retail | SF+500, 2.5% PIK (2.5% Max PIK) | 1.5% | 3/1/24 | 46.1 | 46.1 | 45.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
ThreeSixty Group | (f)(v) | Consumer Discretionary Distribution & Retail | SF+500, 2.5% PIK (2.5% Max PIK) | 1.5% | 3/1/24 | 45.9 | 45.7 | 44.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
TIBCO Software Inc | (aa)(v) | Software & Services | SF+450 | 0.5% | 3/30/29 | 39.9 | 36.6 | 36.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Time Manufacturing Co | (v) | Capital Goods | L+650 | 0.8% | 12/1/27 | 45.2 | 44.4 | 42.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Time Manufacturing Co | (v) | Capital Goods | L+650 | 0.8% | 12/1/27 | 5.4 | 5.4 | 5.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Time Manufacturing Co | (v) | Capital Goods | E+650 | 0.8% | 12/1/27 | € | 13.7 | 14.4 | 13.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Time Manufacturing Co | (x) | Capital Goods | L+650 | 0.8% | 12/1/27 | $ | 16.7 | 16.7 | 15.6 | |||||||||||||||||||||||||||||||||||||||||||||||
Transaction Services Group Ltd | (v)(w) | Software & Services | B+550 | 0.0% | 10/14/26 | A$ | 48.3 | 34.3 | 31.7 | |||||||||||||||||||||||||||||||||||||||||||||||
Transaction Services Group Ltd | (f)(v)(w) | Software & Services | L+550 | 0.0% | 10/14/26 | $ | 126.2 | 123.0 | 123.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Ultra Electronics Holdings PLC | (aa)(m)(w) | Capital Goods | L+350 | 0.5% | 8/6/29 | 1.8 | 1.8 | 1.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Ultra Electronics Holdings PLC | (aa)(v)(w) | Capital Goods | E+325 | 0.0% | 8/6/29 | € | 1.4 | 1.6 | 1.4 | |||||||||||||||||||||||||||||||||||||||||||||||
Version1 Software Ltd | (v)(w) | Software & Services | SA+575, 0.0% PIK (1.7% Max PIK) | 0.0% | 7/11/29 | £ | 1.1 | 1.3 | 1.3 | |||||||||||||||||||||||||||||||||||||||||||||||
Version1 Software Ltd | (w)(x) | Software & Services | E+575, 0.0% PIK (1.7% Max PIK) | 0.0% | 7/11/29 | € | 1.1 | 1.1 | 1.1 | |||||||||||||||||||||||||||||||||||||||||||||||
VetCor Professional Practices LLC | (m)(v) | Health Care Equipment & Services | SF+575 | 0.8% | 8/31/29 | $ | 88.8 | 88.0 | 89.1 | |||||||||||||||||||||||||||||||||||||||||||||||
VetCor Professional Practices LLC | (v) | Health Care Equipment & Services | SF+575 | 0.8% | 8/31/29 | 0.7 | 0.6 | 0.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
VetCor Professional Practices LLC | (x) | Health Care Equipment & Services | SF+575 | 0.8% | 8/31/29 | 3.8 | 3.8 | 3.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
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 | SF+900, 1.0% PIK (1.0% Max PIK) | 1.0% | 5/22/24 | 18.7 | 18.0 | 18.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Wealth Enhancement Group LLC | (v)(w) | Financial Services | SF+600 | 1.0% | 10/4/27 | 3.8 | 3.8 | 3.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Wealth Enhancement Group LLC | (w)(x) | Financial Services | SF+600 | 1.0% | 10/4/27 | 2.4 | 2.4 | 2.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Wealth Enhancement Group LLC | (w)(x) | Financial Services | 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 | 90.8 | 85.1 | 86.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Woolpert Inc | (v) | Capital Goods | L+600 | 1.0% | 4/5/28 | 68.3 | 68.3 | 64.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
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 | 46.0 | 45.8 | 42.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Worldwise Inc | (v) | Household & Personal Products | SF+625 | 1.0% | 3/29/28 | 7.4 | 7.4 | 6.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Worldwise Inc | (x) | Household & Personal Products | SF+625 | 1.0% | 3/29/28 | 15.5 | 15.5 | 14.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Worldwise Inc | (x) | Household & Personal Products | SF+625 | 1.0% | 3/29/28 | 6.8 | 6.8 | 6.3 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Zendesk Inc | (m)(v) | Software & Services | SF+700, 0.0% PIK (3.5% Max PIK) | 0.8% | 11/22/28 | $ | 58.1 | $ | 57.6 | $ | 58.0 | |||||||||||||||||||||||||||||||||||||||||||||
Zendesk Inc | (x) | Software & Services | SF+650, 0.0% PIK (3.5% Max PIK) | 0.8% | 11/22/28 | 6.0 | 6.0 | 6.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Zendesk Inc | (x) | Software & Services | SF+650, 0.0% PIK (3.5% Max PIK) | 0.8% | 11/22/28 | 14.5 | 14.4 | 14.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total Senior Secured Loans—First Lien | 10,518.9 | 10,203.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unfunded Loan Commitments | (883.5) | (883.5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Senior Secured Loans—First Lien | 9,635.4 | 9,320.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—Second Lien—16.8% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ammeraal Beltech Holding BV | (f)(s)(v)(w) | Capital Goods | L+775 | 0.0% | 9/12/26 | 23.6 | 21.9 | 23.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Apex Group Limited | (v)(w) | Financial Services | L+675 | 0.5% | 7/27/29 | 55.0 | 54.0 | 53.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc | (ac)(v)(y)(z) | Consumer Discretionary Distribution & Retail | 10.0% PIK (10.0% Max PIK) | 7/31/25 | 28.9 | 4.2 | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Caldic BV | (v)(w) | Consumer Discretionary Distribution & Retail | SF+725 | 0.5% | 2/25/30 | 40.0 | 39.0 | 39.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Constellis Holdings LLC | (ac)(v) | Capital Goods | L+1,100, 0.0% PIK (5.0% Max PIK) | 1.0% | 3/27/26 | 13.5 | 12.8 | 13.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Cubic Corp | (v) | Software & Services | SF+763 | 0.8% | 5/25/29 | 44.8 | 42.2 | 40.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Ellucian Inc | (v) | Software & Services | L+800 | 1.0% | 10/9/28 | 179.2 | 171.3 | 181.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Miami Beach Medical Group LLC | (v)(y) | Health Care Equipment & Services | 6/14/28 | 5.0 | 3.6 | 2.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Misys Ltd | (aa)(v)(w) | Software & Services | L+725 | 1.0% | 6/13/25 | 16.3 | 15.7 | 13.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
NBG Home | (v)(y)(z) | Consumer Durables & Apparel | L+1,275 PIK (L+1,275 Max PIK) | 1.0% | 9/30/24 | 37.4 | 28.2 | — | ||||||||||||||||||||||||||||||||||||||||||||||||
OEConnection LLC | (f)(v) | Software & Services | SF+700 | 0.5% | 9/25/27 | 76.1 | 75.7 | 73.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Peraton Corp | (s)(v) | Capital Goods | SF+800 | 1.0% | 2/1/29 | 175.0 | 166.5 | 176.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Peraton Corp | (v) | Capital Goods | SF+775 | 0.8% | 2/1/29 | 130.4 | 124.9 | 130.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Pure Fishing Inc | (v) | Consumer Durables & Apparel | L+838 | 1.0% | 12/21/26 | 100.0 | 95.5 | 54.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Solera LLC | (aa)(v) | Software & Services | L+800 | 1.0% | 6/4/29 | 312.4 | 297.6 | 303.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Valeo Foods Group Ltd | (v)(w) | Food, Beverage & Tobacco | E+750 | 0.0% | 10/1/29 | € | 3.8 | 4.0 | 3.4 | |||||||||||||||||||||||||||||||||||||||||||||||
Valeo Foods Group Ltd | (w)(x) | Food, Beverage & Tobacco | E+750 | 0.0% | 10/1/29 | 2.3 | 3.1 | 2.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Wittur Holding GmbH | (v)(w)(y)(z) | Capital Goods | E+850, 1.0% PIK (1.0% Max PIK) | 0.0% | 10/4/27 | 113.4 | 122.5 | 64.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total Senior Secured Loans—Second Lien | 1,282.7 | 1,175.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unfunded Loan Commitments | (3.1) | (3.1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Senior Secured Loans—Second Lien | 1,279.6 | 1,172.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Senior Secured Debt—1.5% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Angelica Corp | (h)(y)(z) | Health Care Equipment & Services | 10.0% PIK (10.0% Max PIK) | 12/29/23 | $ | 59.0 | 42.3 | 0.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co | (aa)(ad)(s)(v) | Materials | 10.3% | 6/1/26 | 76.5 | 75.8 | 77.0 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc | (v) | Health Care Equipment & Services | 8.5% PIK (8.5% Max PIK) | 11/1/28 | $ | 25.6 | $ | 23.9 | $ | 18.8 | ||||||||||||||||||||||||||||||||||||||||||||||
TIBCO Software Inc | (aa)(v) | Software & Services | 6.5% | 3/31/29 | 1.0 | 0.8 | 0.9 | |||||||||||||||||||||||||||||||||||||||||||||||||
TruckPro LLC | (aa)(v) | Capital Goods | 11.0% | 10/15/24 | 9.2 | 9.2 | 9.2 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Other Senior Secured Debt | 152.0 | 106.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt—4.0% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (aa)(v)(w) | Insurance | 11.5%, 0.0% PIK (12.8% Max PIK) | 1/15/27 | 1.0 | 1.0 | 0.9 | |||||||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp | (ad)(s)(v)(w) | Capital Goods | 10.0% PIK (10.0% Max PIK) | 9/1/28 | 31.3 | 17.7 | 31.3 | |||||||||||||||||||||||||||||||||||||||||||||||||
Covis Finco Sarl | (w)(x) | Pharmaceuticals, Biotechnology & Life Sciences | SF+675 | 1.0% | 11/20/26 | 20.0 | 20.0 | 20.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Element Materials Technology Group US Holdings Inc | (v)(w) | Commercial & Professional Services | SF+850 PIK (SF+850 Max PIK) | 0.5% | 7/9/31 | 70.1 | 68.7 | 67.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Encora Digital Inc | (v) | Commercial & Professional Services | 9.8% PIK (9.8% Max PIK) | 12/13/29 | 23.8 | 23.2 | 22.6 | |||||||||||||||||||||||||||||||||||||||||||||||||
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 | 152.6 | 99.4 | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Sorenson Communications LLC | (j)(u)(v)(y) | Telecommunication Services | $ | 9.9 | 8.9 | 9.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Sorenson Communications LLC | (j)(u)(v)(y) | Telecommunication Services | 40.3 | 32.0 | 33.0 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Ultra Electronics Holdings PLC | (v)(w) | Capital Goods | L+725 | 0.5% | 1/31/30 | 62.9 | 61.1 | 58.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Ultra Electronics Holdings PLC | (v)(w) | Capital Goods | L+900 PIK (L+900 Max PIK) | 0.5% | 1/31/31 | 61.8 | 60.1 | 57.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total Subordinated Debt | 419.0 | 300.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unfunded Debt Commitments | (20.0) | (20.0) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Subordinated Debt | 399.0 | 280.5 |
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) | Equity Real Estate Investment Trusts (REITs) | 8,516,891 | $ | 14.0 | $ | 5.2 | |||||||||||||||||||||||||||||||||||||||||||
801 5th Ave, Seattle, Structure Mezzanine | (ad)(v)(w) | Equity Real Estate Investment Trusts (REITs) | 8.0%, 3.0% PIK (3.0% Max PIK) | 12/19/29 | $ | 58.9 | 57.1 | 58.9 | ||||||||||||||||||||||||||||||||||||||||||
Abacus JV, Private Equity | (v)(w) | Insurance | 47,045,141 | 46.1 | 49.2 | |||||||||||||||||||||||||||||||||||||||||||||
Accelerator Investments Aggregator LP, Private Equity | (v)(w)(y) | Financial Services | 3,869,291 | 4.5 | 3.5 | |||||||||||||||||||||||||||||||||||||||||||||
Altavair AirFinance, Private Equity | (v)(w) | Capital Goods | 130,473,039 | 131.4 | 144.2 | |||||||||||||||||||||||||||||||||||||||||||||
Australis Maritime, Common Stock | (v)(w) | Transportation | 53,622,786 | 52.3 | 53.7 | |||||||||||||||||||||||||||||||||||||||||||||
Avenue One PropCo, Private Equity | (ad)(v)(w)(y) | Equity Real Estate Investment Trusts (REITs) | 34,170,655 | 34.2 | 34.5 | |||||||||||||||||||||||||||||||||||||||||||||
Avida Holding AB, Common Stock | (ad)(v)(w)(y) | Financial Services | 405,023,756 | 44.6 | 35.5 | |||||||||||||||||||||||||||||||||||||||||||||
Bankers Healthcare Group LLC, Term Loan | (v)(w) | Financial Services | SF+393 | 0.0% | 11/8/27 | 11,300,000 | 11.3 | 11.4 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Principal Amount(c)/ Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||
Byrider Finance LLC, Private Equity | (u)(v)(y) | Automobiles & Components | 54,407 | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||
Byrider Finance LLC, Term Loan | (u)(v)(y) | Automobiles & Components | 11/26/26 | 5,000,000 | 5.0 | 3.9 | ||||||||||||||||||||||||||||||||||||||||||||
Callodine Commercial Finance LLC, 2L Term Loan A | (v) | Financial Services | L+900 | 1.0% | 11/3/25 | $ | 125.0 | 119.6 | 125.6 | |||||||||||||||||||||||||||||||||||||||||
Callodine Commercial Finance LLC, 2L Term Loan B | (v) | Financial Services | L+900 | 1.0% | 11/3/25 | $ | 12.0 | 12.0 | 12.1 | |||||||||||||||||||||||||||||||||||||||||
Callodine Commercial Finance LLC, 2L Term Loan B | (x) | Financial Services | L+900 | 1.0% | 11/3/25 | $ | 36.1 | 36.1 | 36.2 | |||||||||||||||||||||||||||||||||||||||||
Capital Automotive LP, Private Equity | (v)(w) | Equity Real Estate Investment Trusts (REITs) | 21,640,936 | 23.7 | 31.1 | |||||||||||||||||||||||||||||||||||||||||||||
Capital Automotive LP, Structured Mezzanine | (v)(w) | Equity Real Estate Investment Trusts (REITs) | 11.0% | 12/22/28 | $ | 41.9 | 41.2 | 41.9 | ||||||||||||||||||||||||||||||||||||||||||
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 | $ | 462.5 | 309.4 | 238.8 | ||||||||||||||||||||||||||||||||||||||||||
Global Jet Capital LLC, Structured Mezzanine | (j)(u)(v)(w) | Commercial & Professional Services | 15.0% PIK (15.0% Max PIK) | 12/4/25 | $ | 16.7 | 13.6 | 16.7 | ||||||||||||||||||||||||||||||||||||||||||
Global Jet Capital LLC, Structured Mezzanine | (j)(u)(v)(w) | Commercial & Professional Services | 15.0% PIK (15.0% Max PIK) | 12/9/25 | $ | 12.2 | 9.8 | 12.2 | ||||||||||||||||||||||||||||||||||||||||||
Global Jet Capital LLC, Structured Mezzanine | (j)(u)(v)(w) | Commercial & Professional Services | 15.0% PIK (15.0% Max PIK) | 1/29/26 | $ | 1.4 | 1.1 | 1.4 | ||||||||||||||||||||||||||||||||||||||||||
Global Lending Services LLC, Private Equity | (v)(w) | Financial Services | 6,305,388 | 7.3 | 7.2 | |||||||||||||||||||||||||||||||||||||||||||||
Global Lending Services LLC, Private Equity | (v)(w) | Financial Services | 9,625,411 | 9.6 | 9.8 | |||||||||||||||||||||||||||||||||||||||||||||
Global Lending Services LLC, Private Equity | (v)(w)(y) | Financial Services | 13,864,865 | 13.9 | 14.1 | |||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV 2, Private Equity | (ac)(v)(w)(y) | Equity Real Estate Investment Trusts (REITs) | 4,471,509 | 4.4 | 4.5 | |||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV 2, Private Equity | (ac)(v)(w)(y) | Equity Real Estate Investment Trusts (REITs) | 168,710 | 0.2 | 0.2 | |||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV 2, Structured Mezzanine | (ac)(v)(w) | Equity Real Estate Investment Trusts (REITs) | 11.0% PIK (11.0% Max PIK) | 3/20/30 | $ | 10.5 | 10.5 | 10.5 | ||||||||||||||||||||||||||||||||||||||||||
Jet Edge International LLC, Term Loan | (v) | Transportation | 10.0%, 2.0% PIK (2.0% Max PIK) | 4/2/26 | $ | 72.0 | 72.0 | 74.2 | ||||||||||||||||||||||||||||||||||||||||||
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% | $ | 99.4 | 98.6 | 99.4 | |||||||||||||||||||||||||||||||||||||||||||
Kilter Finance, Private Equity | (ad)(v)(w)(y) | Insurance | 536,709 | 0.5 | 0.5 | |||||||||||||||||||||||||||||||||||||||||||||
KKR Altitude II Offshore Aggregator LP, Partnership Interest | (ad)(v)(w)(y) | Capital Goods | 49,011,924 | 49.0 | 49.8 | |||||||||||||||||||||||||||||||||||||||||||||
KKR Central Park Leasing Aggregator L.P., Partnership Interest | (v)(w)(y)(z) | Capital Goods | 14.3% | 5/31/23 | $ | 39.1 | 39.1 | 16.2 | ||||||||||||||||||||||||||||||||||||||||||
KKR Chord IP Aggregator LP, Partnership Interest | (v)(w) | Media & Entertainment | 89,453,083 | 89.5 | 98.7 | |||||||||||||||||||||||||||||||||||||||||||||
KKR Residential Opportunities I LLC, Private Equity | (v)(y) | Real Estate Management & Development | 19,576,347 | 19.6 | 20.4 | |||||||||||||||||||||||||||||||||||||||||||||
KKR Rocket Loans Aggregator LLC, Partnership Interest | (ad)(v)(w) | Financial Services | 14,180,166 | 14.2 | 13.9 | |||||||||||||||||||||||||||||||||||||||||||||
KKR Zeno Aggregator LP (K2 Aviation), Partnership Interest | (v)(w)(y) | Capital Goods | 23,664,954 | 23.0 | 20.6 | |||||||||||||||||||||||||||||||||||||||||||||
My Community Homes PropCo 2, Private Equity | (ad)(v)(w)(y) | Equity Real Estate Investment Trusts (REITs) | 81,818,354 | 81.8 | 80.5 |
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) | Financial Services | 18.3% | 1/25/27 | $ | 8.3 | $ | 2.5 | $ | 3.7 | ||||||||||||||||||||||||||||||||||||||||
Opendoor Labs Inc, Structured Mezzanine | (v)(w) | Real Estate Management & Development | 10.0% | 4/1/26 | $ | 56.9 | 56.9 | 54.1 | ||||||||||||||||||||||||||||||||||||||||||
Prime ST LLC, Private Equity | (ad)(v)(w)(y) | Equity Real Estate Investment Trusts (REITs) | 5,612,193 | 7.3 | — | |||||||||||||||||||||||||||||||||||||||||||||
Prime ST LLC, Structured Mezzanine | (ad)(v)(w) | Equity Real Estate Investment Trusts (REITs) | 5.0%, 6.0% PIK (6.0% Max PIK) | 3/12/30 | $ | 55.5 | 53.7 | 39.6 | ||||||||||||||||||||||||||||||||||||||||||
Roemanu LLC (FKA Toorak Capital Partners LLC), Private Equity | (ad)(v) | Financial Services | 220,778,388 | 236.5 | 254.8 | |||||||||||||||||||||||||||||||||||||||||||||
Saluda Grade Alternative Mortgage Trust 2022-BC2, Structured Mezzanine | (v)(w) | Real Estate Management & Development | 18.0% | 7/25/30 | $ | 3.4 | 2.3 | 2.3 | ||||||||||||||||||||||||||||||||||||||||||
Star Mountain Diversified Credit Income Fund III, LP, Private Equity | (o)(w) | Financial Services | 23,500,000 | 23.5 | 23.6 | |||||||||||||||||||||||||||||||||||||||||||||
Total Asset Based Finance | 1,953.0 | 1,815.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Unfunded commitments | (36.8) | (36.8) | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Asset Based Finance | 1,916.2 | 1,778.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC —20.0% | ||||||||||||||||||||||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC | (ad)(v)(w) | Financial Services | $ | 1,637.3 | 1,571.7 | 1,396.6 | ||||||||||||||||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC | 1,571.7 | 1,396.6 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Number of Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||
Equity/Other—17.5%(e) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Abaco Energy Technologies LLC, Common Stock | (v)(y) | Energy | 3,055,556 | $ | 0.2 | $ | 0.6 | |||||||||||||||||||||||||||||||||||||||||||
Abaco Energy Technologies LLC, Preferred Stock | (v)(y) | Energy | 12,734,481 | 1.5 | 4.0 | |||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc, Preferred Stock | (ac)(v) | Health Care Equipment & Services | 11.8% PIK (11.8% Max PIK) | 49,073,000 | 48.1 | 49.1 | ||||||||||||||||||||||||||||||||||||||||||||
American Vision Partners, Private Equity | (v)(y) | Health Care Equipment & Services | 2,655,491 | 2.7 | 2.2 | |||||||||||||||||||||||||||||||||||||||||||||
Amerivet Partners Management Inc, Preferred Stock | (v) | Health Care Equipment & Services | 11.5% PIK (11.5% Max PIK) | 12,702,290 | 12.3 | 11.7 | ||||||||||||||||||||||||||||||||||||||||||||
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 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
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 | 13.1 | ||||||||||||||||||||||||||||||||||||||||||
Arena Energy LP, Warrants | (v) | Energy | 68,186,525 | 0.4 | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||
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 | 23.4 | |||||||||||||||||||||||||||||||||||||||||||||
athenahealth Inc, Preferred Stock | (ac)(v) | Health Care Equipment & Services | 10.8% PIK (10.8% Max PIK) | 267,493 | 262.2 | 230.7 | ||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp, Class B-1 Common Stock | (ad)(v)(w)(y) | Capital Goods | 500 | 5.0 | 5.0 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Number of Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp, Class B-2 Common Stock | (ad)(v)(w)(y) | Capital Goods | 900 | $ | 4.0 | $ | 9.0 | |||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp, Common Stock | (ad)(s)(v)(w)(y) | Capital Goods | 5,578 | 9.9 | 38.5 | |||||||||||||||||||||||||||||||||||||||||||||
Belk Inc, Common Stock | (ac)(v)(y) | Consumer Discretionary Distribution & Retail | 94,950 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Borden (New Dairy Opco), Common Stock | (ac)(h)(n)(y) | Food, Beverage & Tobacco | 11,167,000 | 9.1 | 6.7 | |||||||||||||||||||||||||||||||||||||||||||||
Bowery Farming Inc, Warrants | (v)(y) | Food, Beverage & Tobacco | 4/30/26 | 161,828 | 0.0 | 2.1 | ||||||||||||||||||||||||||||||||||||||||||||
CDS US Intermediate Holdings Inc, Warrant | (v)(w)(y) | Media & Entertainment | 2,023,714 | — | 4.4 | |||||||||||||||||||||||||||||||||||||||||||||
Cengage Learning, Inc, Common Stock | (v)(y) | Media & Entertainment | 227,802 | 7.5 | 3.6 | |||||||||||||||||||||||||||||||||||||||||||||
Constellis Holdings LLC, Private Equity | (ac)(f)(v)(y) | Capital Goods | 849,702 | 10.3 | 3.9 | |||||||||||||||||||||||||||||||||||||||||||||
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 | 33.3 | ||||||||||||||||||||||||||||||||||||||||||||
Fox Head Inc, Common Stock | (j)(v) | Consumer Durables & Apparel | 10,000,000 | 2.9 | — | |||||||||||||||||||||||||||||||||||||||||||||
Fronton BV, Common Stock | (ac)(o)(y) | Consumer Services | 14,943 | — | 1.2 | |||||||||||||||||||||||||||||||||||||||||||||
Galaxy Universal LLC, Common Stock | (n)(y) | Consumer Durables & Apparel | 228,806 | 35.5 | — | |||||||||||||||||||||||||||||||||||||||||||||
Galaxy Universal LLC, Trade Claim | (v)(y) | Consumer Durables & Apparel | 7,701,195 | 4.6 | 1.8 | |||||||||||||||||||||||||||||||||||||||||||||
Gracent LLC, NP-1 Common Stock | (n)(y) | Health Care Equipment & Services | 1,000,000 | 4.2 | — | |||||||||||||||||||||||||||||||||||||||||||||
Harvey Industries Inc, Common Stock | (v)(y) | Capital Goods | 5,000,000 | 2.2 | 6.2 | |||||||||||||||||||||||||||||||||||||||||||||
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 | 16.6 | |||||||||||||||||||||||||||||||||||||||||||||
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 | 2.0 | |||||||||||||||||||||||||||||||||||||||||||||
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 | — | 2.4 | |||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co, Preferred Stock | (ad)(j)(u)(v) | Materials | 6.3% PIK (12.5% Max PIK) | 2/15/28 | 15,279 | 204.6 | 147.9 | |||||||||||||||||||||||||||||||||||||||||||
Lipari Foods LLC, Common Stock | (v)(y) | Consumer Staples Distribution & Retail | 7,942,724 | 8.0 | 8.2 | |||||||||||||||||||||||||||||||||||||||||||||
Magna Legal Services LLC, Common Stock | (h)(y) | Commercial & Professional Services | 4,938,192 | 4.9 | 5.2 | |||||||||||||||||||||||||||||||||||||||||||||
Maverick Natural Resources LLC, Common Stock | (n)(o) | Energy | 259,211 | 84.5 | 143.6 | |||||||||||||||||||||||||||||||||||||||||||||
Med-Metrix, Common Stock | (h)(y) | Software & Services | 29,403 | 1.5 | 3.3 | |||||||||||||||||||||||||||||||||||||||||||||
Med-Metrix, Preferred Stock | (h) | Software & Services | 8.0% PIK (8.0% Max PIK) | 29,403 | 1.5 | 1.5 | ||||||||||||||||||||||||||||||||||||||||||||
Misys Ltd, Preferred Stock | (v)(w) | Software & Services | L+1,025 PIK (L+1,025 Max PIK) | 0.0% | 67,825,135 | 63.8 | 64.5 | |||||||||||||||||||||||||||||||||||||||||||
NBG Home, Common Stock | (v)(y) | Consumer Durables & Apparel | 1,903 | 2.4 | — | |||||||||||||||||||||||||||||||||||||||||||||
NCI Inc, Class A-1 Common Stock | (ad)(v)(y) | Software & Services | 42,923 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
NCI Inc, Class B-1 Common Stock | (ad)(v)(y) | Software & Services | 30,121 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
NCI Inc, Class C Common Stock | (ad)(v)(y) | Software & Services | 49,406 | 20.2 | 19.1 | |||||||||||||||||||||||||||||||||||||||||||||
NCI Inc, Class I-1 Common Stock | (ad)(v)(y) | Software & Services | 42,923 | 0.0 | — |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor(b) | Maturity | Number of Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||
Nine West Holdings Inc, Common Stock | (v)(y) | Consumer Durables & Apparel | 5,451 | $ | 6.4 | $ | — | |||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Common Stock | (v)(y) | Health Care Equipment & Services | 34,872 | 2.1 | 1.3 | |||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock A | (v)(y) | Health Care Equipment & Services | 371,992 | 22.8 | 17.7 | |||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock B | (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 | 589,656 | 0.6 | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||
Polyconcept North America Inc, Class A - 1 Units | (v) | Household & Personal Products | 30,000 | 3.0 | 10.3 | |||||||||||||||||||||||||||||||||||||||||||||
PRG III LLC, Preferred Stock, Series A PIK | (ad)(v)(y) | Media & Entertainment | 8/21/24 | 434,250 | 18.1 | 139.5 | ||||||||||||||||||||||||||||||||||||||||||||
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 | 1.9 | |||||||||||||||||||||||||||||||||||||||||||||
Proserv Acquisition LLC, Class A Preferred Units | (ac)(v)(w)(y) | Energy | 837,780 | 5.4 | 9.5 | |||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||
Saturn Oil & Gas Inc, Common Stock | (aa)(j)(u)(v)(w)(y) | Energy | 355,993 | 0.7 | 0.7 | |||||||||||||||||||||||||||||||||||||||||||||
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 | — | |||||||||||||||||||||||||||||||||||||||||||||
Stuart Weitzman Inc, Common Stock | (v)(y) | Consumer Durables & Apparel | 5,451 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
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 | — | |||||||||||||||||||||||||||||||||||||||||||||
TIBCO Software Inc, Preferred Stock | (v) | Software & Services | SF+1,200 PIK (SF+1,200 Max PIK) | 0.5% | 133,186,150 | 127.4 | 129.8 | |||||||||||||||||||||||||||||||||||||||||||
Ultra Electronics Holdings PLC, Private Equity | (v)(w)(y) | Capital Goods | 683,240,044 | 7.2 | 6.8 | |||||||||||||||||||||||||||||||||||||||||||||
Ultra Electronics Holdings PLC, Private Equity | (v)(w)(y) | Capital Goods | 1,272,105 | 1.3 | 1.2 | |||||||||||||||||||||||||||||||||||||||||||||
Warren Resources Inc, Common Stock | (ad)(v)(y) | Energy | 3,483,788 | 12.8 | 23.5 | |||||||||||||||||||||||||||||||||||||||||||||
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 | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||
Total Equity/Other | 1,228.7 | 1,222.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL INVESTMENTS—218.8% | $ | 16,182.6 | 15,277.1 | |||||||||||||||||||||||||||||||||||||||||||||||
LIABILITIES IN EXCESS OF OTHER ASSETS—(118.8%) | (8,294.1) | |||||||||||||||||||||||||||||||||||||||||||||||||
NET ASSETS—100.0% | $ | 6,983.0 |
Foreign Currency | Settlement Date | Counterparty | Amount and Transaction | US$ Value at Settlement Date | US$ Value at March 31, 2023 | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||||||||||||||||||||
AUD | 10/21/2024 | JP Morgan Chase Bank | A$ | 8.3 | Sold | $ | 5.2 | $ | 5.6 | $ | (0.4) | ||||||||||||||||||||||||||||||||||||
AUD | 10/21/2024 | JP Morgan Chase Bank | A$ | 2.2 | Sold | 1.5 | 1.5 | 0.0 | |||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||
CAD | 9/13/2024 | JP Morgan Chase Bank | C$ | 2.1 | Sold | 1.6 | 1.6 | 0.0 | |||||||||||||||||||||||||||||||||||||||
CAD | 11/15/2024 | JP Morgan Chase Bank | C$ | 4.0 | Sold | 3.2 | 2.9 | 0.3 | |||||||||||||||||||||||||||||||||||||||
CAD | 11/18/2024 | JP Morgan Chase Bank | C$ | 1.5 | Sold | 1.1 | 1.1 | 0.0 | |||||||||||||||||||||||||||||||||||||||
EUR | 2/23/2024 | JP Morgan Chase Bank | € | 27.6 | Sold | 32.0 | 30.3 | 1.7 | |||||||||||||||||||||||||||||||||||||||
EUR | 8/8/2025 | JP Morgan Chase Bank | € | 4.8 | Sold | 5.7 | 5.3 | 0.4 | |||||||||||||||||||||||||||||||||||||||
EUR | 8/8/2025 | JP Morgan Chase Bank | € | 1.9 | Sold | 2.3 | 2.2 | 0.1 | |||||||||||||||||||||||||||||||||||||||
GBP | 10/13/2023 | JP Morgan Chase Bank | £ | 6.2 | Sold | 8.5 | 7.7 | 0.8 | |||||||||||||||||||||||||||||||||||||||
GBP | 11/25/2024 | JP Morgan Chase Bank | £ | 1.4 | Sold | 1.7 | 1.7 | 0.0 | |||||||||||||||||||||||||||||||||||||||
GBP | 11/25/2024 | JP Morgan Chase Bank | £ | 3.4 | Sold | 4.1 | 4.2 | (0.1) | |||||||||||||||||||||||||||||||||||||||
GBP | 11/25/2024 | JP Morgan Chase Bank | £ | 1.7 | Sold | 2.1 | 2.1 | 0.0 | |||||||||||||||||||||||||||||||||||||||
GBP | 11/25/2024 | JP Morgan Chase Bank | £ | 5.0 | Sold | 6.0 | 6.2 | (0.2) | |||||||||||||||||||||||||||||||||||||||
GBP | 11/25/2024 | JP Morgan Chase Bank | £ | 1.9 | Sold | 2.3 | 2.4 | (0.1) | |||||||||||||||||||||||||||||||||||||||
NOK | 8/8/2025 | JP Morgan Chase Bank | NOK | 45.0 | Sold | 4.8 | 4.4 | 0.4 | |||||||||||||||||||||||||||||||||||||||
SEK | 5/10/2024 | JP Morgan Chase Bank | SEK | 503.0 | Sold | 60.1 | 49.3 | 10.8 | |||||||||||||||||||||||||||||||||||||||
SEK | 5/10/2024 | JP Morgan Chase Bank | SEK | 34.5 | Sold | 4.1 | 3.4 | 0.7 | |||||||||||||||||||||||||||||||||||||||
SEK | 5/10/2024 | JP Morgan Chase Bank | SEK | 68.0 | Sold | 8.1 | 6.7 | 1.4 | |||||||||||||||||||||||||||||||||||||||
SEK | 5/10/2024 | JP Morgan Chase Bank | NOK | 250.0 | Sold | 26.3 | 24.5 | 1.8 | |||||||||||||||||||||||||||||||||||||||
SEK | 8/8/2025 | JP Morgan Chase Bank | SEK | 119.3 | Sold | 13.3 | 11.8 | 1.5 | |||||||||||||||||||||||||||||||||||||||
SEK | 8/8/2025 | JP Morgan Chase Bank | SEK | 27.8 | Sold | 3.1 | 2.7 | 0.4 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 199.7 | $ | 180.0 | $ | 19.7 |
Portfolio Company | Fair Value at December 31, 2022 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at March 31, 2023 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend and Other Income(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—First Lien | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc | $ | 53.1 | $ | 2.9 | $ | (1.5) | $ | — | $ | 0.7 | $ | 55.2 | $ | 1.3 | $ | 0.2 | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
Belk Inc | 8.8 | 0.9 | (1.3) | 0.2 | 3.9 | 12.5 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc | 19.4 | — | — | — | (0.7) | 18.7 | 0.7 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Constellis Holdings LLC | 15.0 | 0.1 | — | — | (0.1) | 15.0 | 0.6 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc(4) | 0.5 | — | (5.8) | — | 5.3 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc(4) | 2.0 | — | (2.0) | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ThermaSys Corp | 8.6 | — | — | — | (2.5) | 6.1 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—Second Lien | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc | 3.3 | — | — | — | (3.3) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Constellis Holdings LLC | 13.5 | — | — | — | — | 13.5 | 0.6 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc(4) | — | — | (13.5) | — | 13.5 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Based Finance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV 2, Structured Mezzanine | 10.2 | 0.3 | — | — | — | 10.5 | — | 0.3 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV 2, Private Equity | 0.2 | — | — | — | — | 0.2 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV 2, Private Equity | 5.0 | — | — | — | (0.5) | 4.5 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity/Other | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc, Preferred Stock | 49.9 | — | — | — | (0.8) | 49.1 | — | 1.4 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
athenahealth Inc, Preferred Stock | 231.2 | — | — | — | (0.5) | 230.7 | — | 7.2 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Borden (New Dairy Opco), Common Stock | 4.8 | — | — | — | 1.9 | 6.7 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Constellis Holdings LLC, Private Equity | 6.3 | — | — | — | (2.4) | 3.9 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fronton BV, Common Stock | 1.0 | — | — | — | 0.2 | 1.2 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Proserv Acquisition LLC, Class A Common Units | 1.1 | — | — | — | 0.8 | 1.9 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Proserv Acquisition LLC, Class A Preferred Units | 9.5 | — | — | — | — | 9.5 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ThermaSys Corp, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ThermaSys Corp, Preferred Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 443.4 | $ | 4.2 | $ | (24.1) | $ | 0.2 | $ | 15.5 | $ | 439.2 | $ | 3.2 | $ | 9.1 | $ | — | $ | — |
Portfolio Company | Fair Value at December 31, 2022 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at March 31, 2023 | 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) | $ | 3.9 | $ | — | $ | — | $ | — | $ | 0.1 | $ | 4.0 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp | 40.6 | 15.8 | (0.8) | — | — | 55.6 | 1.4 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc | 35.6 | — | (0.3) | — | — | 35.3 | 1.0 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
NCI Inc | 28.1 | 0.8 | — | — | 0.3 | 29.2 | (0.3) | 0.9 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | 152.5 | 4.6 | (0.3) | — | (0.6) | 156.2 | 4.8 | 2.1 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | 0.1 | — | — | — | — | 0.1 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | 68.1 | 0.9 | (0.7) | — | (0.5) | 67.8 | 1.9 | 0.5 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | 31.3 | 0.3 | (0.4) | — | (0.1) | 31.1 | 0.8 | 0.2 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Warren Resources Inc | 18.6 | 0.2 | — | — | (0.1) | 18.7 | 0.8 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Senior Secured Debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co | 78.1 | 0.1 | — | — | (1.2) | 77.0 | 2.0 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp | 21.9 | 9.3 | — | — | 0.1 | 31.3 | 0.3 | 0.6 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders | — | — | — | — | — | — | 0.5 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders | — | — | — | — | — | — | 0.1 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Based Finance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
801 5th Ave, Seattle, Structure Mezzanine | 58.9 | 0.1 | — | — | (0.1) | 58.9 | 1.2 | 0.4 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
801 5th Ave, Seattle, Private Equity | 6.3 | — | — | — | (1.1) | 5.2 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Avenue One PropCo, Private Equity | 31.0 | 4.1 | — | — | (0.6) | 34.5 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Avida Holding AB, Common Stock | 42.6 | — | — | — | (7.1) | 35.5 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Kilter Finance, Preferred Stock | 99.5 | — | — | — | (0.1) | 99.4 | 3.7 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Kilter Finance, Private Equity | 0.5 | — | — | — | — | 0.5 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
KKR Altitude II Offshore Aggregator LP, Partnership Interest | 44.4 | 4.6 | — | — | 0.8 | 49.8 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
KKR Rocket Loans Aggregator LLC, Partnership Interest | 4.3 | 9.9 | — | — | (0.3) | 13.9 | — | — | — | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
My Community Homes PropCo 2, Private Equity | 79.0 | — | (2.5) | — | 4.0 | 80.5 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Prime St LLC, Private Equity | — | — | (0.1) | — | 0.1 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Prime St LLC, Structured Mezzanine | 43.5 | — | — | — | (3.9) | 39.6 | 0.8 | 0.8 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Roemanu LLC (FKA Toorak Capital Partners LLC), Private Equity | 261.2 | 0.1 | — | — | (6.5) | 254.8 | — | — | — | 5.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC |
Portfolio Company | Fair Value at December 31, 2022 | Gross Additions(1) | Gross Reductions(2) | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Fair Value at March 31, 2023 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend and Other Income(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC | $ | 1,428.3 | $ | — | $ | — | $ | — | $ | (31.7) | $ | 1,396.6 | $ | — | $ | — | $ | — | $ | 57.5 | ||||||||||||||||||||||||||||||||||||||||||
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 | 29.2 | 8.2 | — | — | 1.1 | 38.5 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp, Class B-1 Common Stock | 5.0 | — | — | — | — | 5.0 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp, Class B-2 Common Stock | 9.0 | — | — | — | — | 9.0 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 16.9 | — | — | — | (0.3) | 16.6 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc, Preferred Stock, Series B | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co, Common Stock | 2.4 | — | — | — | — | 2.4 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co, Preferred Stock | 112.5 | 4.5 | — | — | 30.9 | 147.9 | 0.1 | 4.5 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
NCI Inc, Class A-1 Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
NCI Inc, Class B-1 Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
NCI Inc, Class C Common Stock | 20.2 | — | — | — | (1.1) | 19.1 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
NCI Inc, Class I-1 Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
PRG III LLC, Preferred Stock, Series A PIK | 105.7 | — | — | — | 33.8 | 139.5 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
PRG III LLC, Preferred Stock, Series B PIK | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Warren Resources Inc, Common Stock | 29.2 | — | — | — | (5.7) | 23.5 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 2,908.4 | $ | 63.5 | $ | (5.1) | $ | — | $ | 10.2 | $ | 2,977.0 | $ | 19.1 | $ | 10.0 | $ | — | $ | 62.9 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—First Lien—132.3% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3Pillar Global Inc | (i)(k)(l)(v) | Software & Services | L+600 | 0.8% | 11/23/27 | $ | 101.0 | $ | 100.2 | $ | 96.7 | |||||||||||||||||||||||||||||||||||||||||||||
3Pillar Global Inc | (x) | Software & Services | L+600 | 0.8% | 11/23/26 | 9.2 | 9.2 | 8.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
3Pillar Global Inc | (x) | Software & Services | L+600 | 0.8% | 11/23/27 | 24.9 | 24.9 | 23.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
48Forty Solutions LLC | (f)(k)(l)(t)(v) | Commercial & Professional Services | SF+550 | 1.0% | 11/30/26 | 182.7 | 181.2 | 177.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
48Forty Solutions LLC | (x) | Commercial & Professional Services | SF+550 | 1.0% | 11/30/26 | 10.6 | 10.6 | 10.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
5 Arch Income Fund 2 LLC | (q)(r)(w)(y)(z) | Diversified Financials | 9.0% | 11/18/23 | 95.5 | 69.9 | 52.5 | |||||||||||||||||||||||||||||||||||||||||||||||||
Accuride Corp | (aa)(l) | Capital Goods | L+525 | 1.0% | 11/17/23 | 8.9 | 8.4 | 7.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Advanced Dermatology & Cosmetic Surgery | (m)(t)(v) | Health Care Equipment & Services | L+650 | 1.0% | 5/7/27 | 46.3 | 44.7 | 45.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Advanced Dermatology & Cosmetic Surgery | (x) | Health Care Equipment & Services | L+650 | 1.0% | 5/7/27 | 2.2 | 2.2 | 2.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Advanced Dermatology & Cosmetic Surgery | (x) | Health Care Equipment & Services | L+650 | 1.0% | 5/7/26 | 3.6 | 3.6 | 3.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Advania Sverige AB | (v)(w) | Software & Services | SR+610, 0.0% PIK (3.3% Max PIK) | 0.0% | 4/28/28 | SEK | 933.6 | 106.1 | 86.0 | |||||||||||||||||||||||||||||||||||||||||||||||
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 | 9.2 | |||||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc | (ac)(m)(v) | Health Care Equipment & Services | L+550, 0.0% PIK (1.3% Max PIK) | 0.8% | 8/2/28 | $ | 53.6 | 53.3 | 52.5 | |||||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc | (ac)(v) | Health Care Equipment & Services | L+550, 0.0% PIK (1.3% Max PIK) | 0.8% | 8/2/27 | 1.4 | 1.4 | 1.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc | (ac)(x) | Health Care Equipment & Services | L+550, 0.0% PIK (1.3% Max PIK) | 0.8% | 8/2/28 | 28.4 | 28.4 | 27.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc | (ac)(x) | Health Care Equipment & Services | L+550, 0.0% PIK (1.3% Max PIK) | 0.8% | 8/2/27 | 11.4 | 11.4 | 11.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Alacrity Solutions Group LLC | (v) | Insurance | L+525 | 0.8% | 12/22/28 | 28.4 | 28.0 | 27.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Alacrity Solutions Group LLC | (x) | Insurance | L+525 | 0.8% | 12/22/27 | 10.8 | 10.6 | 10.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Alera Group Intermediate Holdings Inc | (m) | Insurance | SF+600 | 0.8% | 10/2/28 | 9.2 | 9.1 | 8.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Alera Group Intermediate Holdings Inc | (m)(v) | Insurance | SF+600 | 0.8% | 10/2/28 | 22.5 | 22.5 | 21.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
American Vision Partners | (i)(v) | Health Care Equipment & Services | L+575 | 0.8% | 9/30/27 | 113.0 | 112.5 | 109.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
American Vision Partners | (x) | Health Care Equipment & Services | L+575 | 0.8% | 9/30/26 | 7.8 | 7.8 | 7.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Amerivet Partners Management Inc | (v) | Health Care Equipment & Services | SF+550 | 0.8% | 2/25/28 | 95.4 | 94.5 | 91.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Amerivet Partners Management Inc | (v) | Health Care Equipment & Services | SF+550 | 0.8% | 2/25/28 | 17.2 | 17.2 | 16.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Amerivet Partners Management Inc | (x) | Health Care Equipment & Services | SF+550 | 0.8% | 2/25/28 | 8.4 | 8.4 | 8.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Amerivet Partners Management Inc | (x) | Health Care Equipment & Services | SF+550 | 0.8% | 2/25/28 | 50.1 | 50.1 | 48.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Apex Group Limited | (aa)(v)(w) | Diversified Financials | L+375 | 0.5% | 7/27/28 | 2.5 | 2.5 | 2.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Apex Group Limited | (aa)(v)(w) | Diversified Financials | E+400 | 0.0% | 7/27/28 | € | 2.0 | 2.3 | 2.0 | |||||||||||||||||||||||||||||||||||||||||||||||
Arcfield Acquisition Corp | (i)(t) | Capital Goods | L+575 | 0.8% | 3/10/28 | $ | 40.3 | 39.9 | 39.4 | |||||||||||||||||||||||||||||||||||||||||||||||
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 | 12.3 | 12.2 | 11.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Arcos LLC/VA | (x) | Software & Services | L+575 | 1.0% | 4/20/27 | 4.5 | 4.5 | 4.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (v)(w) | Insurance | SA+700 | 0.8% | 7/14/26 | £ | 0.8 | 1.0 | 0.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (v)(w) | Insurance | E+700 | 1.0% | 7/14/26 | € | 19.0 | 19.3 | 20.2 | |||||||||||||||||||||||||||||||||||||||||||||||
Arrotex Australia Group Pty Ltd | (v)(w) | Pharmaceuticals, Biotechnology & Life Sciences | B+525 | 1.0% | 7/10/24 | A$ | 42.6 | 31.1 | 29.0 | |||||||||||||||||||||||||||||||||||||||||||||||
Arrotex Australia Group Pty Ltd | (v)(w) | Pharmaceuticals, Biotechnology & Life Sciences | B+525 | 1.0% | 7/10/24 | 3.1 | 2.2 | 2.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp | (ad)(s)(v)(w) | Capital Goods | L+750 | 1.0% | 9/1/26 | $ | 40.6 | 40.6 | 40.6 | |||||||||||||||||||||||||||||||||||||||||||||||
AxiomSL Ltd | (f)(m)(t)(v) | Software & Services | L+600 | 1.0% | 12/3/27 | 34.7 | 34.1 | 33.7 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
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) | Consumer Services | L+575 | 0.8% | 4/28/28 | 61.5 | 57.7 | 61.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Barbri Inc | (k)(l)(v) | Consumer Services | L+575 | 0.8% | 4/28/28 | 70.3 | 70.0 | 69.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
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 | 19.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc | (aa)(ac)(v)(y)(z) | Retailing | 5.0%, 8.0% PIK (8.0% Max PIK) | 7/31/25 | 71.0 | 42.5 | 8.8 | |||||||||||||||||||||||||||||||||||||||||||||||||
BGB Group LLC | (f)(i)(k)(l)(m)(t) | Media & Entertainment | L+575 | 1.0% | 8/16/27 | 111.1 | 110.3 | 108.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
BGB Group LLC | (x) | Media & Entertainment | L+575 | 1.0% | 8/16/27 | 19.9 | 19.9 | 19.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Bowery Farming Inc | (v) | Food, Beverage & Tobacco | L+1,000 | 1.0% | 4/30/26 | 75.0 | 74.4 | 70.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Caldic BV | (aa)(v)(w) | Retailing | E+350 | 0.0% | 2/4/29 | € | 0.8 | 0.9 | 0.8 | |||||||||||||||||||||||||||||||||||||||||||||||
Caldic BV | (aa)(v)(w) | Retailing | SF+375 | 0.5% | 2/26/29 | $ | 1.4 | 1.4 | 1.4 | |||||||||||||||||||||||||||||||||||||||||||||||
CFC Underwriting Ltd | (w)(x) | Insurance | SA+550, 0.0% PIK (2.8% Max PIK) | 0.0% | 5/16/29 | £ | 4.7 | 5.7 | 5.7 | |||||||||||||||||||||||||||||||||||||||||||||||
Cimarron Energy Inc | (v)(y)(z) | Energy | L+900 | 1.0% | 12/31/24 | $ | 7.5 | 4.8 | 3.7 | |||||||||||||||||||||||||||||||||||||||||||||||
Clarience Technologies LLC | (f)(i)(k)(m)(s)(v) | Capital Goods | SF+625 | 1.0% | 12/14/26 | 294.0 | 284.6 | 287.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Clarience Technologies LLC | (x) | Capital Goods | SF+625 | 1.0% | 12/13/24 | 25.4 | 25.3 | 24.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Community Brands Inc | (v) | Software & Services | SF+575 | 0.8% | 2/24/28 | 32.7 | 32.1 | 31.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Community Brands Inc | (x) | Software & Services | SF+575 | 0.8% | 2/24/28 | 3.9 | 3.8 | 3.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
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 | 14.4 | 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 | 186.8 | 181.5 | 186.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
CSafe Global | (v) | Capital Goods | L+625 | 0.8% | 12/23/27 | £ | 27.2 | 35.9 | 32.8 | |||||||||||||||||||||||||||||||||||||||||||||||
CSafe Global | (v) | Capital Goods | L+625 | 0.8% | 8/13/28 | $ | 11.8 | 11.8 | 11.8 | |||||||||||||||||||||||||||||||||||||||||||||||
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+641 | 0.8% | 4/3/28 | 135.4 | 131.7 | 132.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Dental Care Alliance Inc | (x) | Health Care Equipment & Services | SF+641 | 0.8% | 4/3/28 | 1.7 | 1.7 | 1.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
DOC Generici Srl | (v)(w) | Pharmaceuticals, Biotechnology & Life Sciences | E+650 | 0.0% | 10/27/28 | € | 23.1 | 22.5 | 24.1 | |||||||||||||||||||||||||||||||||||||||||||||||
DOC Generici Srl | (w)(x) | Pharmaceuticals, Biotechnology & Life Sciences | E+650 | 0.0% | 10/28/28 | 2.4 | 2.3 | 2.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Element Materials Technology Group US Holdings Inc | (aa)(v)(w) | Commercial & Professional Services | E+425 | 0.0% | 7/6/29 | 0.3 | 0.4 | 0.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Element Materials Technology Group US Holdings Inc | (aa)(v)(w) | Commercial & Professional Services | SF+425 | 0.5% | 6/22/29 | $ | 1.4 | 1.4 | 1.4 | |||||||||||||||||||||||||||||||||||||||||||||||
Encora Digital Inc | (v) | Software & Services | L+550, 0.0% PIK (2.4% Max PIK) | 0.8% | 12/20/28 | 65.1 | 63.9 | 61.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Encora Digital Inc | (x) | Software & Services | L+550 | 0.8% | 12/20/28 | 19.6 | 19.4 | 18.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Envirotainer Ltd | (w)(x) | Transportation | E+600, 0.0% PIK (3.0% Max PIK) | 0.0% | 7/30/29 | € | 2.7 | 2.7 | 2.6 | |||||||||||||||||||||||||||||||||||||||||||||||
Excelitas Technologies Corp | (v) | Technology Hardware & Equipment | SF+575 | 0.8% | 8/12/28 | $ | 1.3 | 1.3 | 1.3 | |||||||||||||||||||||||||||||||||||||||||||||||
Excelitas Technologies Corp | (x) | Technology Hardware & Equipment | SF+575 | 0.8% | 8/12/28 | 1.0 | 1.0 | 1.0 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Excelitas Technologies Corp | (x) | Technology Hardware & Equipment | SF+575 | 0.8% | 8/12/29 | $ | 4.7 | $ | 4.7 | $ | 4.6 | |||||||||||||||||||||||||||||||||||||||||||||
Follett Software Co | (f)(k)(l)(t) | Software & Services | L+575 | 0.8% | 8/31/28 | 73.7 | 73.1 | 72.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Follett Software Co | (x) | Software & Services | L+575 | 0.8% | 8/31/27 | 9.9 | 9.9 | 9.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Foundation Consumer Brands LLC | (f)(m)(v) | Pharmaceuticals, Biotechnology & Life Sciences | L+550 | 1.0% | 2/12/27 | 83.9 | 80.5 | 84.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
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 | SF+625 | 0.8% | 10/29/27 | 2.9 | 2.8 | 2.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Foundation Risk Partners Corp | (m)(v) | Insurance | SF+600 | 0.8% | 10/29/28 | 79.9 | 78.8 | 78.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Foundation Risk Partners Corp | (x) | Insurance | SF+625 | 0.8% | 10/29/27 | 4.1 | 4.1 | 4.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Galaxy Universal LLC | (v) | Consumer Durables & Apparel | SF+575 | 1.0% | 6/24/23 | 7.5 | 7.5 | 7.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Galaxy Universal LLC | (v) | Consumer Durables & Apparel | SF+575 | 1.0% | 11/12/26 | 88.0 | 88.0 | 85.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Galaxy Universal LLC | (v) | Consumer Durables & Apparel | SF+500 | 1.0% | 11/12/26 | 21.5 | 21.4 | 21.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Galway Partners Holdings LLC | (k)(l)(m)(t)(v) | Insurance | L+525, 0.0% PIK (1.3% Max PIK) | 0.8% | 9/29/28 | 111.1 | 109.4 | 109.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
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 | 1.3 | 1.3 | 1.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
General Datatech LP | (f)(k)(l)(m)(t)(v) | Software & Services | L+625 | 1.0% | 6/18/27 | 156.4 | 155.1 | 146.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Gigamon Inc | (v) | Software & Services | SF+575 | 0.8% | 3/9/29 | 170.4 | 168.9 | 163.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Gigamon Inc | (x) | Software & Services | SF+575 | 0.8% | 3/10/28 | 9.3 | 9.3 | 8.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Gracent LLC | (v) | Health Care Equipment & Services | SF+550 | 1.0% | 2/28/27 | 25.9 | 26.6 | 22.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Gracent LLC | (v)(y)(z) | Health Care Equipment & Services | 12.0% PIK (12.0% Max PIK) | 2/28/27 | 22.9 | 22.6 | 11.4 | |||||||||||||||||||||||||||||||||||||||||||||||||
Greystone Equity Member Corp | (v)(w) | Diversified Financials | L+725 | 3.8% | 4/1/26 | 194.8 | 185.0 | 188.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Heniff Transportation Systems LLC | (f)(i)(k)(l)(m)(v) | Transportation | SF+575 | 1.0% | 12/3/26 | 135.7 | 129.8 | 131.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Heniff Transportation Systems LLC | (v) | Transportation | SF+625 | 1.0% | 12/3/26 | 19.1 | 18.4 | 18.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Heniff Transportation Systems LLC | (x) | Transportation | SF+575 | 1.0% | 12/3/24 | 17.8 | 17.6 | 17.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Hibu Inc | (f)(k)(l)(m)(t)(v) | Commercial & Professional Services | SF+625 | 1.0% | 5/4/27 | 99.0 | 94.8 | 99.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Higginbotham Insurance Agency Inc | (v) | Insurance | L+550 | 0.8% | 11/25/26 | 4.4 | 4.4 | 4.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
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 | 6.0 | 6.0 | 6.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
HKA | (v)(w) | Commercial & Professional Services | SF+575, 0.0% PIK (1.8% Max PIK) | 0.5% | 8/9/29 | 4.4 | 4.3 | 4.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
HKA | (w)(x) | Commercial & Professional Services | SF+575, 0.0% PIK (1.8% Max PIK) | 0.5% | 8/9/29 | 0.2 | 0.2 | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc | (ad)(v) | Capital Goods | L+600, 0.0% PIK (6.0% Max PIK) | 1.0% | 6/30/26 | 35.6 | 35.6 | 35.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc | (ad)(x) | Capital Goods | L+600, 0.0% PIK (6.0% Max PIK) | 1.0% | 6/30/26 | 2.0 | 2.0 | 2.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Individual FoodService | (m)(s) | Capital Goods | SF+625 | 1.0% | 11/22/25 | 69.4 | 66.1 | 68.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Individual FoodService | (v) | Capital Goods | SF+625 | 1.0% | 11/22/25 | 5.2 | 5.2 | 5.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Individual FoodService | (m)(v) | Capital Goods | SF+625 | 1.0% | 11/22/25 | 16.7 | 16.7 | 16.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Individual FoodService | (v) | Capital Goods | SF+625 | 1.0% | 11/22/25 | 5.4 | 5.4 | 5.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Individual FoodService | (v) | Capital Goods | SF+625 | 1.0% | 11/22/25 | 6.9 | 6.9 | 6.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Individual FoodService | (x) | Capital Goods | SF+625 | 1.0% | 11/22/24 | 4.8 | 4.7 | 4.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Individual FoodService | (x) | Capital Goods | SF+625 | 1.0% | 11/22/25 | 1.4 | 1.4 | 1.4 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Industria Chimica Emiliana Srl | (v)(w) | Pharmaceuticals, Biotechnology & Life Sciences | E+725 | 0.0% | 9/27/26 | € | 88.8 | $ | 102.1 | $ | 91.3 | |||||||||||||||||||||||||||||||||||||||||||||
Industry City TI Lessor LP | (s)(v) | Consumer Services | 10.8%, 1.0% PIK (1.0% Max PIK) | 6/30/26 | $ | 25.6 | 25.7 | 26.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
iNova Pharmaceuticals (Australia) Pty Limited | (w)(x) | Pharmaceuticals, Biotechnology & Life Sciences | B+650 | 0.8% | 10/30/28 | A$ | 3.5 | 2.2 | 2.2 | |||||||||||||||||||||||||||||||||||||||||||||||
Insight Global LLC | (v) | Commercial & Professional Services | L+600 | 0.8% | 9/22/27 | $ | 8.4 | 8.4 | 8.2 | |||||||||||||||||||||||||||||||||||||||||||||||
Insight Global LLC | (i)(v) | Commercial & Professional Services | L+600 | 0.8% | 9/22/28 | 203.3 | 201.5 | 197.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Insight Global LLC | (x) | Commercial & Professional Services | L+600 | 0.8% | 9/22/27 | 12.6 | 12.6 | 12.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Insight Global LLC | (x) | Commercial & Professional Services | L+600 | 0.8% | 9/22/28 | 26.8 | 26.8 | 26.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Integrity Marketing Group LLC | (v) | Insurance | L+602 | 0.8% | 8/27/25 | 124.4 | 124.4 | 122.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
J S Held LLC | (f)(i)(m)(s)(v) | Insurance | L+550 | 1.0% | 7/1/25 | 103.0 | 101.0 | 101.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
J S Held LLC | (v) | Insurance | L+550 | 1.0% | 7/1/25 | 8.9 | 8.7 | 8.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
J S Held LLC | (v) | Insurance | L+550 | 1.0% | 7/1/25 | 22.2 | 22.2 | 22.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
J S Held LLC | (f)(v) | Insurance | SF+550 | 1.0% | 7/1/25 | 24.8 | 24.8 | 24.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
J S Held LLC | (x) | Insurance | L+550 | 1.0% | 7/1/25 | 5.2 | 5.2 | 5.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
J S Held LLC | (x) | Insurance | SF+550 | 1.0% | 7/1/25 | 19.2 | 19.2 | 19.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Jarrow Formulas Inc | (f)(i)(k)(l)(m)(s)(t)(v) | Household & Personal Products | L+625 | 1.0% | 11/30/26 | 181.8 | 174.1 | 181.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Karman Space Inc | (m)(v) | Capital Goods | L+700 | 1.0% | 12/21/25 | 51.1 | 48.9 | 49.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Karman Space Inc | (v) | Capital Goods | L+700 | 1.0% | 12/21/25 | 4.5 | 4.3 | 4.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Karman Space Inc | (v) | Capital Goods | L+700 | 1.0% | 12/21/25 | 37.1 | 36.6 | 36.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Karman Space Inc | (x) | Capital Goods | L+700 | 1.0% | 12/21/25 | 1.0 | 1.0 | 0.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Kellermeyer Bergensons Services LLC | (f)(i)(k)(l)(m)(s)(t)(v) | Commercial & Professional Services | L+600 | 1.0% | 11/7/26 | 268.9 | 259.5 | 244.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Kellermeyer Bergensons Services LLC | (v) | Commercial & Professional Services | L+600 | 1.0% | 11/7/26 | 84.6 | 84.1 | 77.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Kellermeyer Bergensons Services LLC | (v) | Commercial & Professional Services | L+600 | 1.0% | 11/7/26 | 15.4 | 15.3 | 14.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lakefield Veterinary Group | (f)(i)(v) | Health Care Equipment & Services | L+550 | 0.8% | 11/23/28 | 108.3 | 107.6 | 103.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lakefield Veterinary Group | (x) | Health Care Equipment & Services | L+550 | 0.8% | 11/23/28 | 35.2 | 35.2 | 33.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lakeview Farms Inc | (l)(m) | Food, Beverage & Tobacco | L+625 | 1.0% | 6/10/27 | 31.2 | 29.6 | 30.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lakeview Farms Inc | (v) | Food, Beverage & Tobacco | L+625 | 1.0% | 6/10/27 | 4.5 | 4.5 | 4.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lakeview Farms Inc | (m)(v) | Food, Beverage & Tobacco | L+625 | 1.0% | 6/10/27 | 45.0 | 45.0 | 43.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lakeview Farms Inc | (x) | Food, Beverage & Tobacco | L+625 | 1.0% | 6/10/27 | 10.8 | 10.8 | 10.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lakeview Farms Inc | (x) | Food, Beverage & Tobacco | L+625 | 1.0% | 6/10/27 | 2.3 | 2.3 | 2.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lexitas Inc | (i)(k)(l)(m)(v) | Commercial & Professional Services | SF+675 | 1.0% | 5/18/29 | 133.1 | 130.2 | 131.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lexitas Inc | (x) | Commercial & Professional Services | SF+675 | 1.0% | 5/18/29 | 8.4 | 8.4 | 8.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lionbridge Technologies Inc | (f)(k)(m)(s)(t)(v) | Media & Entertainment | SF+700 | 1.0% | 12/29/25 | 122.7 | 119.0 | 123.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lipari Foods LLC | (f)(i)(v) | Food & Staples Retailing | SF+650 | 1.0% | 10/31/28 | 96.0 | 94.6 | 94.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lipari Foods LLC | (x) | Food & Staples Retailing | SF+650 | 1.0% | 10/31/28 | 27.3 | 27.3 | 27.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Lloyd's Register Quality Assurance Ltd | (v)(w) | Consumer Services | SA+575, 0.0% PIK (2.9% Max PIK) | 0.0% | 12/2/28 | £ | 5.7 | 7.4 | 6.7 | |||||||||||||||||||||||||||||||||||||||||||||||
Lloyd's Register Quality Assurance Ltd | (w)(x) | Consumer Services | SA+575, 0.0% PIK (2.9% Max PIK) | 0.0% | 12/2/28 | 9.3 | 12.6 | 12.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Magna Legal Services LLC | (v) | Commercial & Professional Services | SF+650 | 0.8% | 11/22/29 | $ | 18.5 | 18.2 | 18.2 | |||||||||||||||||||||||||||||||||||||||||||||||
Magna Legal Services LLC | (x) | Commercial & Professional Services | SF+650 | 0.8% | 9/30/28 | 2.2 | 2.2 | 2.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Magna Legal Services LLC | (x) | Commercial & Professional Services | SF+650 | 0.8% | 11/22/29 | 5.2 | 5.2 | 5.1 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Matchesfashion Ltd | (v)(w)(y)(z) | Consumer Durables & Apparel | L+463, 3.0% PIK (3.0% Max PIK) | 0.0% | 10/11/24 | $ | 13.3 | $ | 12.2 | $ | 4.8 | |||||||||||||||||||||||||||||||||||||||||||||
MB2 Dental Solutions LLC | (k)(l)(m)(t)(v) | Health Care Equipment & Services | SF+600 | 1.0% | 1/29/27 | 268.0 | 259.2 | 263.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Medallia Inc | (v) | Software & Services | L+325, 3.3% PIK (3.3% Max PIK) | 0.8% | 10/29/28 | 207.8 | 205.8 | 203.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Med-Metrix | (i)(t)(v) | Software & Services | L+600 | 1.0% | 9/15/27 | 56.1 | 56.1 | 56.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Med-Metrix | (x) | Software & Services | L+600 | 1.0% | 9/15/27 | 25.0 | 25.0 | 25.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Med-Metrix | (x) | Software & Services | L+600 | 1.0% | 9/15/27 | 7.8 | 7.8 | 7.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Miami Beach Medical Group LLC | (m)(v) | Health Care Equipment & Services | SF+650, 1.5% PIK (1.5% Max PIK) | 1.0% | 12/14/26 | 164.4 | 157.1 | 139.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Monitronics International Inc | (aa)(f)(v) | Commercial & Professional Services | L+750 | 1.3% | 3/29/24 | 18.6 | 17.7 | 12.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Monitronics International Inc | (v) | Commercial & Professional Services | L+600 | 1.5% | 7/3/24 | 46.1 | 44.3 | 42.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Monitronics International Inc | (x) | Commercial & Professional Services | L+600 | 1.5% | 7/3/24 | 23.9 | 23.9 | 21.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Motion Recruitment Partners LLC | (f)(i)(v) | Commercial & Professional Services | SF+650 | 1.0% | 12/20/25 | 64.0 | 64.0 | 63.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Motion Recruitment Partners LLC | (m)(t)(v) | Commercial & Professional Services | SF+650 | 1.0% | 12/22/25 | 59.4 | 55.8 | 59.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Motion Recruitment Partners LLC | (x) | Commercial & Professional Services | SF+650 | 1.0% | 12/22/25 | 59.6 | 59.6 | 59.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
NBG Home | (v)(y)(z) | Consumer Durables & Apparel | L+550 | 1.0% | 4/26/24 | 75.9 | 69.9 | 21.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
NCI Inc | (ad)(v) | Software & Services | L+750 PIK (L+750 Max PIK) | 1.0% | 8/15/28 | 28.1 | 28.7 | 28.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Documents | (v) | Software & Services | SF+625 | 1.0% | 6/30/27 | 33.0 | 32.8 | 32.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Documents | (x) | Software & Services | L+625 | 1.0% | 6/30/27 | 3.0 | 2.9 | 2.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
New Era Technology Inc | (i)(l)(m)(t) | Software & Services | L+625 | 1.0% | 10/31/26 | 51.1 | 49.4 | 50.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
New Era Technology Inc | (v) | Software & Services | L+625 | 1.0% | 10/31/26 | 2.6 | 2.5 | 2.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
New Era Technology Inc | (x) | Software & Services | L+625 | 1.0% | 10/31/26 | 2.1 | 2.1 | 2.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
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+575 | 0.8% | 12/1/27 | 0.1 | 0.1 | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
NPD Group Inc/The | (v) | Consumer Services | SF+350, 2.8% PIK (2.8% Max PIK) | 0.8% | 12/1/28 | 19.2 | 19.2 | 19.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
NPD Group Inc/The | (x) | Consumer Services | SF+575 | 0.8% | 12/1/27 | 0.9 | 0.9 | 0.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Omnimax International Inc | (f)(i)(k)(l)(m)(v) | Capital Goods | SF+850 | 1.0% | 10/8/26 | 183.6 | 176.6 | 175.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc | (aa)(v) | Health Care Equipment & Services | L+550 | 0.8% | 4/22/27 | 4.9 | 4.7 | 4.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Oxford Global Resources LLC | (f)(k)(l)(m)(t)(v) | Commercial & Professional Services | SF+600 | 1.0% | 8/17/27 | 94.5 | 93.7 | 94.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Oxford Global Resources LLC | (v) | Commercial & Professional Services | SF+600 | 1.0% | 8/17/27 | 3.5 | 3.5 | 3.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Oxford Global Resources LLC | (x) | Commercial & Professional Services | SF+600 | 1.0% | 8/17/27 | 8.3 | 8.3 | 8.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Oxford Global Resources LLC | (x) | Commercial & Professional Services | SF+600 | 1.0% | 8/17/27 | 4.1 | 4.1 | 4.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Parts Town LLC | (t)(v) | Retailing | L+550 | 0.8% | 11/1/28 | 37.1 | 36.8 | 35.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Parts Town LLC | (v) | Retailing | L+550 | 0.8% | 11/1/28 | 63.2 | 62.7 | 61.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
PartsSource Inc | (v) | Health Care Equipment & Services | L+575 | 0.8% | 8/23/28 | 65.1 | 64.5 | 62.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
PartsSource Inc | (x) | Health Care Equipment & Services | L+575 | 0.8% | 8/21/26 | 4.3 | 4.3 | 4.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
PartsSource Inc | (x) | Health Care Equipment & Services | L+575 | 0.8% | 8/23/28 | 22.9 | 22.7 | 22.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Performance Health Holdings Inc | (f)(i)(m)(v) | Health Care Equipment & Services | L+600 | 1.0% | 7/12/27 | 108.3 | 107.4 | 105.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | (ad)(v) | Media & Entertainment | L+500, 3.1% PIK (3.1% Max PIK) | 1.0% | 8/21/24 | 62.7 | 59.9 | 64.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | (ad)(v) | Media & Entertainment | L+300, 5.5% PIK (5.5% Max PIK) | 0.3% | 8/21/24 | 149.6 | 143.9 | 152.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
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 | 34.4 | 34.3 | 34.8 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
PSKW LLC (dba ConnectiveRx) | (i)(l)(s)(t)(v) | Health Care Equipment & Services | L+625 | 1.0% | 3/9/26 | $ | 291.8 | $ | 282.8 | $ | 291.8 | |||||||||||||||||||||||||||||||||||||||||||||
Pure Fishing Inc | (aa)(v) | Consumer Durables & Apparel | L+450 | 0.0% | 12/22/25 | 33.7 | 33.2 | 22.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Radwell International LLC/PA | (v) | Capital Goods | SF+653 | 0.8% | 4/1/29 | 1.0 | 1.0 | 1.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Radwell International LLC/PA | (i)(k)(l)(t) | Capital Goods | SF+675 | 0.8% | 4/1/29 | 92.1 | 92.1 | 92.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Radwell International LLC/PA | (x) | Capital Goods | SF+675 | 0.8% | 4/1/28 | 6.9 | 6.9 | 6.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Reliant Rehab Hospital Cincinnati LLC | (f)(i)(l)(m)(s)(v) | Health Care Equipment & Services | L+625 | 0.0% | 2/28/26 | 106.1 | 101.1 | 84.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Revere Superior Holdings Inc | (m)(v) | Software & Services | L+575 | 1.0% | 9/30/26 | 33.5 | 32.9 | 33.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Revere Superior Holdings Inc | (v) | Software & Services | L+575 | 1.0% | 9/30/26 | 1.5 | 1.5 | 1.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
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 | 1.4 | 1.3 | 1.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Rise Baking Company | (l)(m) | Food, Beverage & Tobacco | L+650 | 1.0% | 8/13/27 | 28.5 | 28.0 | 27.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Rise Baking Company | (x) | Food, Beverage & Tobacco | L+650 | 1.0% | 8/13/27 | 3.9 | 3.9 | 3.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
RSC Insurance Brokerage Inc | (i)(k)(l)(m)(s)(v) | Insurance | SF+550 | 0.8% | 10/30/26 | 240.0 | 234.3 | 236.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
RSC Insurance Brokerage Inc | (x) | Insurance | SF+550 | 0.8% | 10/30/26 | 7.7 | 7.6 | 7.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Safe-Guard Products International LLC | (f) | Diversified Financials | L+500 | 0.5% | 1/27/27 | 0.1 | 0.1 | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
SAMBA Safety Inc | (m) | Software & Services | L+525 | 1.0% | 9/1/27 | 6.1 | 6.0 | 6.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
SAMBA Safety Inc | (x) | Software & Services | L+525 | 1.0% | 9/1/27 | 2.4 | 2.4 | 2.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
SavATree LLC | (v) | Consumer Services | L+525 | 0.8% | 10/12/28 | 5.5 | 5.5 | 5.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
SavATree LLC | (x) | Consumer Services | L+525 | 0.8% | 10/12/28 | 4.0 | 4.0 | 3.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
SavATree LLC | (x) | Consumer Services | L+525 | 0.8% | 10/12/28 | 6.3 | 6.3 | 6.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sequel Youth & Family Services LLC | (v)(y)(z) | Health Care Equipment & Services | 3.0% | 2/28/25 | 57.2 | 8.9 | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||||||
SitusAMC Holdings Corp | (k)(l)(t) | Real Estate | L+550 | 0.8% | 12/22/27 | 55.2 | 54.7 | 53.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Solina France SASU | (m)(v)(w) | Food, Beverage & Tobacco | SF+650 | 0.0% | 7/31/28 | 40.0 | 38.8 | 39.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sorenson Communications LLC | (aa)(f)(k)(t) | Telecommunication Services | L+550 | 0.8% | 3/17/26 | 33.6 | 31.9 | 32.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Source Code LLC | (k)(l)(t) | Software & Services | SF+650 | 1.0% | 6/30/27 | 52.8 | 51.9 | 51.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Source Code LLC | (x) | Software & Services | SF+650 | 1.0% | 6/30/27 | 15.3 | 15.0 | 14.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Spins LLC | (m)(s)(t)(v) | Software & Services | L+550 | 1.0% | 1/20/27 | 68.2 | 65.4 | 68.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Spins LLC | (x) | Software & Services | L+550 | 1.0% | 1/20/27 | 16.5 | 16.5 | 16.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
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$ | 30.5 | 23.9 | 22.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Summit Interconnect Inc | (f)(k)(l)(m)(t)(v) | Capital Goods | SF+600 | 1.0% | 9/22/28 | $ | 136.5 | 135.4 | 128.7 | |||||||||||||||||||||||||||||||||||||||||||||||
Summit Interconnect Inc | (x) | Capital Goods | SF+600 | 1.0% | 9/22/28 | 9.4 | 9.4 | 8.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc | (ac)(v) | Software & Services | L+100, 8.5% PIK (8.5% Max PIK) | 0.0% | 11/30/23 | 2.0 | 2.0 | 2.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
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 | 6.1 | 5.8 | 0.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc | (ac)(x) | Software & Services | L+100, 8.5% PIK (8.5% Max PIK) | 0.0% | 11/30/23 | 1.2 | 1.2 | 1.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sweeping Corp of America Inc | (m)(v) | Commercial & Professional Services | L+575 | 1.0% | 11/30/26 | 72.2 | 70.2 | 72.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sweeping Corp of America Inc | (v) | Commercial & Professional Services | L+575 | 1.0% | 11/30/26 | 1.0 | 1.0 | 1.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sweeping Corp of America Inc | (x) | Commercial & Professional Services | L+575 | 1.0% | 11/30/26 | 4.7 | 4.7 | 4.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Tangoe LLC | (m)(s)(v) | Software & Services | L+650 | 1.0% | 11/28/25 | 179.5 | 165.3 | 147.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Tangoe LLC | (m)(s)(v) | Software & Services | 12.5% PIK (12.5% Max PIK) | 11/28/25 | 3.3 | 3.3 | 2.6 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
TeamSystem SpA | (v)(w) | Software & Services | E+625 | 0.0% | 2/15/28 | € | 19.8 | $ | 18.9 | $ | 21.4 | |||||||||||||||||||||||||||||||||||||||||||||
Tekfor HoldCo (formerly Amtek Global Technology Pte Ltd) | (ad)(v)(w)(y) | Automobiles & Components | 36.7 | 40.1 | 3.9 | |||||||||||||||||||||||||||||||||||||||||||||||||||
ThermaSys Corp | (ac)(v)(y)(z) | Capital Goods | L+1,100 PIK (L+1,100 Max PIK) | 1.0% | 1/1/24 | $ | 9.7 | 8.3 | 8.6 | |||||||||||||||||||||||||||||||||||||||||||||||
ThreeSixty Group | (f)(m)(v) | Retailing | SF+500, 2.5% PIK (2.5% Max PIK) | 1.5% | 3/1/24 | 46.1 | 46.1 | 45.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
ThreeSixty Group | (m)(v) | Retailing | SF+500, 2.5% PIK (2.5% Max PIK) | 1.5% | 3/1/24 | 45.9 | 45.9 | 44.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
TIBCO Software Inc | (aa)(v) | Software & Services | SF+450 | 0.5% | 3/30/29 | 39.9 | 36.4 | 35.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Time Manufacturing Co | (v) | Capital Goods | L+650 | 0.8% | 12/1/27 | 45.4 | 44.5 | 42.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Time Manufacturing Co | (v) | Capital Goods | L+650 | 0.8% | 12/1/27 | 7.3 | 7.3 | 6.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Time Manufacturing Co | (v) | Capital Goods | E+650 | 0.8% | 12/1/27 | € | 13.7 | 14.4 | 13.8 | |||||||||||||||||||||||||||||||||||||||||||||||
Time Manufacturing Co | (x) | Capital Goods | L+650 | 0.8% | 12/1/27 | $ | 14.8 | 14.8 | 13.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Transaction Services Group Ltd | (v)(w) | Software & Services | B+550 | 0.0% | 10/14/26 | A$ | 48.3 | 34.2 | 32.1 | |||||||||||||||||||||||||||||||||||||||||||||||
Transaction Services Group Ltd | (f)(v)(w) | Software & Services | L+550 | 0.0% | 10/14/26 | $ | 126.2 | 122.9 | 123.5 | |||||||||||||||||||||||||||||||||||||||||||||||
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 | 1.4 | |||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 82.3 | 81.5 | 80.9 | |||||||||||||||||||||||||||||||||||||||||||||||
VetCor Professional Practices LLC | (v) | Health Care Equipment & Services | SF+575 | 0.8% | 8/31/29 | 1.8 | 1.7 | 1.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
VetCor Professional Practices LLC | (x) | Health Care Equipment & Services | SF+575 | 0.8% | 8/31/29 | 11.0 | 10.9 | 10.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
VetCor Professional Practices LLC | (x) | Health Care Equipment & Services | SF+575 | 0.8% | 8/31/29 | 4.9 | 4.9 | 4.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Warren Resources Inc | (ad)(v) | Energy | L+900, 1.0% PIK (1.0% Max PIK) | 1.0% | 5/22/24 | 18.6 | 17.8 | 18.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Wealth Enhancement Group LLC | (v)(w) | Diversified Financials | SF+600 | 1.0% | 10/4/27 | 31.1 | 31.0 | 30.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Wealth Enhancement Group LLC | (w)(x) | Diversified Financials | SF+600 | 1.0% | 10/4/27 | 3.3 | 3.3 | 3.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Wealth Enhancement Group LLC | (w)(x) | Diversified Financials | SF+600 | 1.0% | 10/29/27 | 2.1 | 2.1 | 2.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Woolpert Inc | (f)(k)(l)(m)(t) | Capital Goods | L+600 | 1.0% | 4/5/28 | 91.0 | 85.1 | 88.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Woolpert Inc | (v) | Capital Goods | L+600 | 1.0% | 4/5/28 | 68.5 | 68.5 | 66.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Woolpert Inc | (x) | Capital Goods | L+600 | 1.0% | 4/5/28 | 3.7 | 3.7 | 3.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Worldwise Inc | (v) | Household & Personal Products | SF+625 | 1.0% | 3/29/28 | 26.3 | 26.3 | 24.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Worldwise Inc | (v) | Household & Personal Products | SF+625 | 1.0% | 3/29/28 | 20.0 | 19.8 | 18.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Worldwise Inc | (v) | Household & Personal Products | SF+625 | 1.0% | 3/29/28 | 7.4 | 7.4 | 6.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Worldwise Inc | (x) | Household & Personal Products | SF+625 | 1.0% | 3/29/28 | 15.5 | 15.5 | 14.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Worldwise Inc | (x) | Household & Personal Products | SF+625 | 1.0% | 3/29/28 | 6.8 | 6.8 | 6.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Zendesk Inc | (v) | Software & Services | SF+650, 0.0% PIK (3.5% Max PIK) | 0.8% | 11/22/28 | 58.1 | 57.5 | 57.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Zendesk Inc | (x) | Software & Services | SF+650, 0.0% PIK (3.5% Max PIK) | 0.8% | 11/22/28 | 14.5 | 14.4 | 14.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Zendesk Inc | (x) | Software & Services | SF+650, 0.0% PIK (3.5% Max PIK) | 0.8% | 11/22/28 | 6.0 | 6.0 | 5.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total Senior Secured Loans—First Lien | 10,515.6 | 10,186.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unfunded Loan Commitments | (908.1) | (908.1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Senior Secured Loans—First Lien | 9,607.5 | 9,278.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—Second Lien—17.0% |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Advanced Lighting Technologies Inc | (v)(y)(z) | Materials | L+1,600 PIK (L+1,600 Max PIK) | 1.0% | 3/16/27 | $ | 13.5 | $ | 10.5 | $ | 3.4 | |||||||||||||||||||||||||||||||||||||||||||||
Ammeraal Beltech Holding BV | (f)(s)(v)(w) | Capital Goods | L+775 | 9/12/26 | 23.6 | 21.8 | 23.0 | |||||||||||||||||||||||||||||||||||||||||||||||||
Apex Group Limited | (v)(w) | Diversified Financials | L+675 | 0.5% | 7/27/29 | 55.0 | 54.0 | 51.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc | (ac)(v)(y)(z) | Retailing | 10.0% PIK (10.0% Max PIK) | 7/31/25 | 28.2 | 4.2 | 3.3 | |||||||||||||||||||||||||||||||||||||||||||||||||
Caldic BV | (v)(w) | Retailing | SF+725 | 0.5% | 2/25/30 | 40.0 | 39.0 | 38.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Constellis Holdings LLC | (ac)(v) | Capital Goods | L+1,100, 0.0% PIK (5.0% Max PIK) | 1.0% | 3/27/25 | 13.5 | 12.8 | 13.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Cubic Corp | (v) | Software & Services | L+763 | 0.8% | 5/25/29 | 44.8 | 42.2 | 40.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Ellucian Inc | (v) | Software & Services | L+800 | 1.0% | 10/9/28 | 179.2 | 170.9 | 177.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Misys Ltd | (aa)(v)(w) | Software & Services | L+725 | 1.0% | 6/13/25 | 16.3 | 15.6 | 12.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
NBG Home | (v)(y)(z) | Consumer Durables & Apparel | L+1,275 PIK (L+1,275 Max PIK) | 1.0% | 9/30/24 | 35.8 | 28.2 | — | ||||||||||||||||||||||||||||||||||||||||||||||||
OEConnection LLC | (f)(v) | Software & Services | SF+700 | 0.5% | 9/25/27 | 76.1 | 75.7 | 73.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Peraton Corp | (s)(v) | Capital Goods | L+800 | 1.0% | 2/1/29 | 175.0 | 166.2 | 174.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Peraton Corp | (v) | Capital Goods | L+775 | 0.8% | 2/1/29 | 130.4 | 124.8 | 128.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Pure Fishing Inc | (m)(v) | Consumer Durables & Apparel | L+838 | 1.0% | 12/21/26 | 100.0 | 95.3 | 56.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Solera LLC | (aa)(v) | Software & Services | L+800 | 1.0% | 6/4/29 | 312.4 | 297.3 | 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 | 15.1 | 13.5 | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Valeo Foods Group Ltd | (v)(w) | Food, Beverage & Tobacco | E+750 | 10/1/29 | € | 3.8 | 4.0 | 3.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Valeo Foods Group Ltd | (w)(x) | Food, Beverage & Tobacco | E+750 | 10/1/29 | 2.3 | 3.1 | 2.8 | |||||||||||||||||||||||||||||||||||||||||||||||||
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, 1.0% PIK (1.0% Max PIK) | 9/23/27 | € | 113.4 | 122.5 | 86.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total Senior Secured Loans—Second Lien | 1,302.3 | 1,197.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unfunded Loan Commitments | (3.1) | (3.1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Senior Secured Loans—Second Lien | 1,299.2 | 1,194.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Senior Secured Debt—1.6% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Angelica Corp | (h)(y)(z) | Health Care Equipment & Services | 10.0% PIK (10.0% Max PIK) | 12/29/23 | $ | 59.0 | 42.3 | 0.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co | (aa)(ad)(s)(v) | Materials | 10.3% | 6/1/26 | 76.5 | 75.7 | 78.1 | |||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc | (v) | Health Care Equipment & Services | 8.5% PIK (8.5% Max PIK) | 11/1/28 | 25.6 | 23.9 | 20.9 | |||||||||||||||||||||||||||||||||||||||||||||||||
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 | 9.1 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Other Senior Secured Debt | 151.9 | 109.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt—3.8% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (aa)(v)(w) | Insurance | 11.5%, 0.0% PIK (12.8% Max PIK) | 1/15/27 | 1.0 | 1.0 | 0.9 | |||||||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp | (ab)(ad)(s)(v)(w) | Capital Goods | 10.0% PIK (10.0% Max PIK) | 9/1/28 | 21.9 | 8.4 | 21.9 | |||||||||||||||||||||||||||||||||||||||||||||||||
Element Materials Technology Group US Holdings Inc | (v)(w) | Commercial & Professional Services | SF+850 PIK (SF+850 Max PIK) | 0.5% | 7/9/31 | 67.9 | 66.5 | 64.6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Encora Digital Inc | (v) | Software & Services | 9.8% PIK (9.8% Max PIK) | 12/13/29 | 23.8 | 23.2 | 22.6 | |||||||||||||||||||||||||||||||||||||||||||||||||
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 | 152.6 | 99.4 | — |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c) | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||||||||
Sorenson Communications LLC | (j)(u)(v)(y) | 0.13 | $ | 9.9 | $ | 8.9 | $ | 9.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Sorenson Communications LLC | (j)(u)(v)(y) | Telecommunication Services | 40.3 | 32.0 | 34.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Ultra Electronics Holdings PLC | (v)(w) | Capital Goods | L+725 | 0.5% | 1/31/30 | 62.9 | 61.1 | 58.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
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 | 53.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total Subordinated Debt | 383.9 | 265.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Principal Amount(c)/ Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||
Asset Based Finance—27.1% | ||||||||||||||||||||||||||||||||||||||||||||||||||
801 5th Ave, Seattle, Private Equity | (ad)(v)(w)(y) | Real Estate | 8,516,891 | $ | 14.0 | $ | 6.3 | |||||||||||||||||||||||||||||||||||||||||||
801 5th Ave, Seattle, Structure Mezzanine | (ad)(v)(w) | Real Estate | 8.0%, 3.0% PIK (3.0% Max PIK) | 12/19/29 | $ | 58.9 | 57.0 | 58.9 | ||||||||||||||||||||||||||||||||||||||||||
Abacus JV, Private Equity | (v)(w) | Insurance | 49,223,047 | 48.2 | 53.3 | |||||||||||||||||||||||||||||||||||||||||||||
Accelerator Investments Aggregator LP, Private Equity | (v)(w)(y) | Diversified Financials | 3,869,291 | 4.5 | 3.4 | |||||||||||||||||||||||||||||||||||||||||||||
Altavair AirFinance, Private Equity | (v)(w) | Capital Goods | 140,212,883 | 141.1 | 162.1 | |||||||||||||||||||||||||||||||||||||||||||||
Australis Maritime, Common Stock | (v)(w) | Transportation | 48,936,056 | 47.6 | 49.3 | |||||||||||||||||||||||||||||||||||||||||||||
Avenue One PropCo, Private Equity | (ad)(v)(w)(y) | Real Estate | 30,064,353 | 30.1 | 31.0 | |||||||||||||||||||||||||||||||||||||||||||||
Avida Holding AB, Common Stock | (ad)(v)(w)(y) | Diversified Financials | 405,023,756 | 44.6 | 42.6 | |||||||||||||||||||||||||||||||||||||||||||||
Bankers Healthcare Group LLC, Term Loan | (v)(w) | Diversified Financials | SF+393 | 11/8/27 | $ | 11.3 | 11.3 | 11.3 | ||||||||||||||||||||||||||||||||||||||||||
Byrider Finance LLC, Private Equity | (u)(v)(y) | Automobiles & Components | 54,407 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Byrider Finance LLC, Structured Mezzanine | (v) | Automobiles & Components | L+1,050 | 0.3% | 6/3/28 | $ | 16.2 | 16.2 | 16.1 | |||||||||||||||||||||||||||||||||||||||||
Byrider Finance LLC, Structured Mezzanine | (x) | Automobiles & Components | L+1,050 | 0.3% | 6/3/28 | $ | 6.8 | 6.8 | 6.8 | |||||||||||||||||||||||||||||||||||||||||
Byrider Finance LLC, Term Loan | (u)(v)(y) | Automobiles & Components | 11/26/26 | 5,000,000 | 5.0 | 5.0 | ||||||||||||||||||||||||||||||||||||||||||||
Callodine Commercial Finance LLC, 2L Term Loan A | (v) | Diversified Financials | L+900 | 1.0% | 11/3/25 | $ | 125.0 | 119.3 | 125.3 | |||||||||||||||||||||||||||||||||||||||||
Callodine Commercial Finance LLC, 2L Term Loan B | (v) | Diversified Financials | L+900 | 1.0% | 11/3/25 | $ | 12.0 | 12.0 | 12.0 | |||||||||||||||||||||||||||||||||||||||||
Callodine Commercial Finance LLC, 2L Term Loan B | (x) | Diversified Financials | L+900 | 1.0% | 11/3/25 | $ | 36.1 | 36.1 | 36.1 | |||||||||||||||||||||||||||||||||||||||||
Capital Automotive LP, Private Equity | (v)(w) | Real Estate | 21,640,936 | 23.7 | 27.0 | |||||||||||||||||||||||||||||||||||||||||||||
Capital Automotive LP, Structured Mezzanine | (v)(w) | Real Estate | 11.0% | 12/22/28 | $ | 42.4 | 41.7 | 42.4 | ||||||||||||||||||||||||||||||||||||||||||
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 | $ | 453.1 | 309.4 | 232.2 | ||||||||||||||||||||||||||||||||||||||||||
Global Jet Capital LLC, Structured Mezzanine | (j)(u)(v)(w) | Commercial & Professional Services | 15.0% PIK (15.0% Max PIK) | 12/4/25 | $ | 28.0 | 21.2 | 28.0 | ||||||||||||||||||||||||||||||||||||||||||
Global Jet Capital LLC, Structured Mezzanine | (j)(u)(v)(w) | Commercial & Professional Services | 15.0% PIK (15.0% Max PIK) | 12/9/25 | $ | 20.5 | 15.1 | 20.5 | ||||||||||||||||||||||||||||||||||||||||||
Global Jet Capital LLC, Structured Mezzanine | (j)(u)(v)(w) | Commercial & Professional Services | 15.0% PIK (15.0% Max PIK) | 1/29/26 | $ | 2.4 | 1.7 | 2.4 | ||||||||||||||||||||||||||||||||||||||||||
Global Lending Services LLC, Private Equity | (v)(w) | Diversified Financials | 7,391,109 | 8.6 | 8.2 | |||||||||||||||||||||||||||||||||||||||||||||
Global Lending Services LLC, Private Equity | (v)(w) | Diversified Financials | 10,356,657 | 10.4 | 10.9 | |||||||||||||||||||||||||||||||||||||||||||||
Global Lending Services LLC, Private Equity | (v)(w)(y) | Diversified Financials | 9,963,808 | 10.0 | 10.0 | |||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV 2, Private Equity | (ac)(v)(w)(y) | Real Estate | 4,471,509 | 4.4 | 5.0 | |||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV 2, Private Equity | (ac)(v)(w)(y) | Real Estate | 168,710 | 0.2 | 0.2 |
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 | $ | 10.2 | $ | 10.2 | $ | 10.2 | ||||||||||||||||||||||||||||||||||||||||
Jet Edge International LLC, Term Loan | (v) | Transportation | 10.0%, 2.0% PIK (2.0% Max PIK) | 4/2/26 | $ | 74.5 | 74.5 | 76.7 | ||||||||||||||||||||||||||||||||||||||||||
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% | $ | 99.4 | 98.6 | 99.5 | |||||||||||||||||||||||||||||||||||||||||||
Kilter Finance, Private Equity | (ad)(v)(w)(y) | Insurance | 536,709 | 0.5 | 0.5 | |||||||||||||||||||||||||||||||||||||||||||||
KKR Altitude II Offshore Aggregator LP, Partnership Interest | (ad)(v)(w)(y) | Capital Goods | 44,424,346 | 44.4 | 44.4 | |||||||||||||||||||||||||||||||||||||||||||||
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 | 89,453,083 | 89.5 | 96.3 | |||||||||||||||||||||||||||||||||||||||||||||
KKR Residential Opportunities I LLC, Private Equity | (v)(y) | Real Estate | 17,510,867 | 17.5 | 17.6 | |||||||||||||||||||||||||||||||||||||||||||||
KKR Rocket Loans Aggregator LLC, Partnership Interest | (ad)(v)(w) | Diversified Financials | 4,336,415 | 4.3 | 4.3 | |||||||||||||||||||||||||||||||||||||||||||||
KKR Zeno Aggregator LP (K2 Aviation), Partnership Interest | (v)(w)(y) | Capital Goods | 23,664,954 | 23.0 | 20.0 | |||||||||||||||||||||||||||||||||||||||||||||
Luxembourg Life Fund - Absolute Return Fund II, Structured Mezzanine | (v)(w) | Insurance | SF+750 | 0.5% | 2/10/27 | $ | 24.9 | 24.9 | 24.6 | |||||||||||||||||||||||||||||||||||||||||
My Community Homes PropCo 2, Private Equity | (ad)(v)(w)(y) | Real Estate | 84,291,667 | 84.3 | 79.0 | |||||||||||||||||||||||||||||||||||||||||||||
NewStar Clarendon 2014-1A Class D | (v)(w) | Diversified Financials | 19.3% | 1/25/27 | $ | 8.3 | 2.5 | 3.5 | ||||||||||||||||||||||||||||||||||||||||||
Opendoor Labs Inc, Structured Mezzanine | (v)(w) | Real Estate | 10.0% | 4/1/26 | $ | 71.1 | 71.1 | 66.4 | ||||||||||||||||||||||||||||||||||||||||||
Pretium Partners LLC P2, Term Loan | (v)(w) | Real Estate | 11.0% | 12/16/29 | $ | 33.5 | 33.0 | 32.9 | ||||||||||||||||||||||||||||||||||||||||||
Prime ST LLC, Private Equity | (ad)(v)(w)(y) | Real Estate | 5,666,079 | 7.4 | — | |||||||||||||||||||||||||||||||||||||||||||||
Prime ST LLC, Structured Mezzanine | (ad)(v)(w) | Real Estate | 5.0%, 6.0% PIK (6.0% Max PIK) | 3/12/30 | $ | 55.5 | 53.7 | 43.5 | ||||||||||||||||||||||||||||||||||||||||||
Roemanu LLC (FKA Toorak Capital Partners LLC), Private Equity | (ad)(v) | Real Estate | 220,778,388 | 236.4 | 261.2 | |||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 10.5 | 10.5 | 10.3 | ||||||||||||||||||||||||||||||||||||||||||
Star Mountain Diversified Credit Income Fund III, LP, Private Equity | (o)(w) | Diversified Financials | 23,500,000 | 23.5 | 23.8 | |||||||||||||||||||||||||||||||||||||||||||||
Total Asset Based Finance | 2,067.2 | 1,946.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Unfunded Asset Based Finance Commitments | (43.6) | (43.6) | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Asset Based Finance | 2,023.6 | 1,902.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC—20.4% | ||||||||||||||||||||||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC | (ad)(v)(w) | Diversified Financials | $ | 1,637.3 | 1,571.7 | 1,428.3 | ||||||||||||||||||||||||||||||||||||||||||||
Total Credit Opportunities Partners JV, LLC | 1,571.7 | 1,428.3 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Number of Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||
Equity/Other—17.1%(e) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Abaco Energy Technologies LLC, Common Stock | (v)(y) | Energy | 3,055,556 | $ | 0.2 | $ | 0.5 | |||||||||||||||||||||||||||||||||||||||||||
Abaco Energy Technologies LLC, Preferred Stock | (v)(y) | Energy | 12,734,481 | 1.5 | 3.7 | |||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc, Preferred Stock | (ac)(v) | Health Care Equipment & Services | 11.8% PIK (11.8% Max PIK) | 49,073,000 | 48.1 | 49.9 | ||||||||||||||||||||||||||||||||||||||||||||
American Vision Partners, Private Equity | (v)(y) | Health Care Equipment & Services | 2,655,491 | 2.7 | 2.2 | |||||||||||||||||||||||||||||||||||||||||||||
Amerivet Partners Management Inc, Preferred Stock | (v) | Health Care Equipment & Services | 11.5% PIK (11.5% Max PIK) | 12,702,290 | 12.3 | 11.8 | ||||||||||||||||||||||||||||||||||||||||||||
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 | 13.4 | ||||||||||||||||||||||||||||||||||||||||||
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 | 3.6 | |||||||||||||||||||||||||||||||||||||||||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp, Trade Claim | (p)(y) | Energy | 86,607,143 | 19.4 | 30.5 | |||||||||||||||||||||||||||||||||||||||||||||
athenahealth Inc, Preferred Stock | (ac)(v) | Health Care Equipment & Services | 10.8% PIK (10.8% Max PIK) | 267,493,473 | 262.2 | 231.2 | ||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp, Class B-1 Common Stock | (ad)(v)(w)(y) | Capital Goods | 500 | 5.0 | 5.0 | |||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp, Class B-2 Common Stock | (ad)(v)(w)(y) | Capital Goods | 900 | 4.0 | 9.0 | |||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp, Common Stock | (ab)(ad)(s)(v)(w)(y) | Capital Goods | 4,214 | 1.7 | 29.2 | |||||||||||||||||||||||||||||||||||||||||||||
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 | 4.8 | |||||||||||||||||||||||||||||||||||||||||||||
Bowery Farming Inc, Warrants | (v)(y) | Food, Beverage & Tobacco | 4/30/26 | 161,828 | — | 2.5 | ||||||||||||||||||||||||||||||||||||||||||||
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 | — | 4.0 | |||||||||||||||||||||||||||||||||||||||||||||
Cengage Learning, Inc, Common Stock | (v)(y) | Media & Entertainment | 227,802 | 7.6 | 3.6 | |||||||||||||||||||||||||||||||||||||||||||||
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 | 6.3 | |||||||||||||||||||||||||||||||||||||||||||||
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 | 39.8 | 34.7 | ||||||||||||||||||||||||||||||||||||||||||||
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 | — | |||||||||||||||||||||||||||||||||||||||||||||
Fronton BV, Common Stock | (ac)(o)(y) | Consumer Services | 14,943 | — | 1.0 | |||||||||||||||||||||||||||||||||||||||||||||
Galaxy Universal LLC, Common Stock | (n)(y) | Consumer Durables & Apparel | 228,806 | 35.4 | 7.5 | |||||||||||||||||||||||||||||||||||||||||||||
Galaxy Universal LLC, Trade Claim | (v)(y) | Consumer Durables & Apparel | 7,701,195 | 4.6 | 1.7 | |||||||||||||||||||||||||||||||||||||||||||||
Genesys Telecommunications Laboratories Inc, Class A Shares | (v)(y) | Technology Hardware & Equipment | 40,529 | — | — |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Number of Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||
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)(y) | Capital Goods | 5,000,000 | 2.2 | 5.2 | |||||||||||||||||||||||||||||||||||||||||||||
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 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
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 | 16.9 | |||||||||||||||||||||||||||||||||||||||||||||
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 | 2.0 | |||||||||||||||||||||||||||||||||||||||||||||
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 | 2.4 | |||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co, Preferred Stock | (ad)(j)(u)(v) | Materials | 6.3% PIK (12.5% Max PIK) | 2/15/28 | 15,279 | 200.1 | 112.5 | |||||||||||||||||||||||||||||||||||||||||||
Lipari Foods LLC, Common Stock | (v)(y) | Food & Staples Retailing | 7,936,123 | 8.0 | 8.0 | |||||||||||||||||||||||||||||||||||||||||||||
Magna Legal Services LLC, Common Stock | (h)(y) | Commercial & Professional Services | 4,938,192 | 4.9 | 4.9 | |||||||||||||||||||||||||||||||||||||||||||||
Maverick Natural Resources LLC, Common Stock | (n)(o) | Energy | 259,211 | 84.6 | 160.9 | |||||||||||||||||||||||||||||||||||||||||||||
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 | 2.9 | |||||||||||||||||||||||||||||||||||||||||||||
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 | — | |||||||||||||||||||||||||||||||||||||||||||||
Misys Ltd, Preferred Stock | (v)(w) | Software & Services | L+1,025 PIK (L+1,025 Max PIK) | 65,200,765 | 61.1 | 61.1 | ||||||||||||||||||||||||||||||||||||||||||||
NBG Home, Common Stock | (v)(y) | Consumer Durables & Apparel | 1,903 | 2.4 | — | |||||||||||||||||||||||||||||||||||||||||||||
NCI Inc, Class A-1 Common Stock | (ad)(v)(y) | Software & Services | 42,923 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
NCI Inc, Class B-1 Common Stock | (ad)(v)(y) | Software & Services | 30,121 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
NCI Inc, Class C Common Stock | (ad)(v)(y) | Software & Services | 49,406 | 20.2 | 20.2 | |||||||||||||||||||||||||||||||||||||||||||||
NCI Inc, Class I-1 Common Stock | (ad)(v)(y) | Software & Services | 42,923 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Nine West Holdings Inc, Common Stock | (v)(y) | Consumer Durables & Apparel | 5,451 | 6.4 | — | |||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Common Stock | (v)(y) | Health Care Equipment & Services | 34,872 | 2.1 | 1.9 | |||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock A | (v)(y) | Health Care Equipment & Services | 371,992 | 22.8 | 20.5 | |||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock B | (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 | 10.3 | |||||||||||||||||||||||||||||||||||||||||||||
PRG III LLC, Preferred Stock, Series A PIK | (ad)(v)(y) | Media & Entertainment | 8/21/24 | 434,250 | 18.1 | 105.7 | ||||||||||||||||||||||||||||||||||||||||||||
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 | 1.1 | |||||||||||||||||||||||||||||||||||||||||||||
Proserv Acquisition LLC, Class A Preferred Units | (ac)(v)(w)(y) | Energy | 837,780 | 5.4 | 9.5 | |||||||||||||||||||||||||||||||||||||||||||||
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 |
Portfolio Company(a) | Footnotes | Industry | Rate(b) | Floor | Maturity | Number of Shares | Amortized Cost | Fair Value(d) | ||||||||||||||||||||||||||||||||||||||||||
Ridgeback Resources Inc, Common Stock | (j)(u)(v)(w) | Energy | 1,969,418 | $ | 6.4 | $ | 8.6 | |||||||||||||||||||||||||||||||||||||||||||
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 | — | |||||||||||||||||||||||||||||||||||||||||||||
Sound United LLC, Common Stock | (v)(y) | Consumer Durables & Apparel | 532,768 | 0.7 | 7.0 | |||||||||||||||||||||||||||||||||||||||||||||
Stuart Weitzman Inc, Common Stock | (v)(y) | Consumer Durables & Apparel | 5,451 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Swift Worldwide Resources Holdco Ltd, Common Stock | (v)(y) | Energy | 1,250,000 | 1.2 | 1.0 | |||||||||||||||||||||||||||||||||||||||||||||
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% | 133,186,150 | 127.3 | 129.6 | |||||||||||||||||||||||||||||||||||||||||||
Ultra Electronics Holdings PLC, Private Equity | (v)(w)(y) | Capital Goods | 683,240,044 | 7.2 | 6.7 | |||||||||||||||||||||||||||||||||||||||||||||
Ultra Electronics Holdings PLC, Private Equity | (v)(w)(y) | Capital Goods | 1,272,105 | 1.3 | 1.2 | |||||||||||||||||||||||||||||||||||||||||||||
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 | 29.2 | |||||||||||||||||||||||||||||||||||||||||||||
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 | 0.4 | |||||||||||||||||||||||||||||||||||||||||||||
Total Equity/Other | 1,276.3 | 1,198.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL INVESTMENTS—219.3% | $ | 16,314.1 | 15,377.3 | |||||||||||||||||||||||||||||||||||||||||||||||
LIABILITIES IN EXCESS OF OTHER ASSETS—(119.3%) | (8,365.3) | |||||||||||||||||||||||||||||||||||||||||||||||||
NET ASSETS—100.0% | $ | 7,012.0 |
Foreign Currency | Settlement Date | Counterparty | Amount and Transaction | US$ Value at Settlement Date | US$ Value at December 31, 2022 | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||||||||||||||||||||
AUD | 2/14/2023 | JP Morgan Chase Bank | A$ | 2.2 | Sold | $ | 1.6 | $ | 1.5 | $ | 0.1 | ||||||||||||||||||||||||||||||||||||
AUD | 10/21/2024 | JP Morgan Chase Bank | A$ | 8.3 | Sold | 5.2 | 5.7 | (0.5) | |||||||||||||||||||||||||||||||||||||||
CAD | 1/11/2023 | JP Morgan Chase Bank | C$ | 1.5 | Sold | 1.2 | 1.1 | 0.1 | |||||||||||||||||||||||||||||||||||||||
CAD | 1/11/2023 | JP Morgan Chase Bank | C$ | 1.5 | Bought | 1.1 | 1.1 | — | |||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||
CAD | 9/13/2024 | JP Morgan Chase Bank | C$ | 2.1 | Sold | 1.6 | 1.6 | — | |||||||||||||||||||||||||||||||||||||||
CAD | 11/15/2024 | JP Morgan Chase Bank | C$ | 4.0 | Sold | 3.2 | 2.9 | 0.3 | |||||||||||||||||||||||||||||||||||||||
CAD | 11/18/2024 | JP Morgan Chase Bank | C$ | 1.5 | Sold | 1.1 | 1.1 | — | |||||||||||||||||||||||||||||||||||||||
EUR | 7/17/2023 | JP Morgan Chase Bank | € | 1.3 | Sold | 1.7 | 1.4 | 0.3 | |||||||||||||||||||||||||||||||||||||||
EUR | 12/15/2023 | JP Morgan Chase Bank | € | 13.0 | Sold | 13.4 | 14.2 | (0.8) | |||||||||||||||||||||||||||||||||||||||
EUR | 2/23/2024 | JP Morgan Chase Bank | € | 42.3 | Sold | 49.1 | 46.1 | 3.0 | |||||||||||||||||||||||||||||||||||||||
EUR | 8/8/2025 | JP Morgan Chase Bank | € | 4.8 | Sold | 5.7 | 5.3 | 0.4 | |||||||||||||||||||||||||||||||||||||||
EUR | 8/8/2025 | JP Morgan Chase Bank | € | 1.9 | Sold | 2.3 | 2.1 | 0.2 | |||||||||||||||||||||||||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 1.9 | Sold | 2.9 | 2.3 | 0.6 | |||||||||||||||||||||||||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 1.7 | Sold | 2.6 | 2.1 | 0.5 | |||||||||||||||||||||||||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 3.4 | Sold | 4.8 | 4.1 | 0.7 | |||||||||||||||||||||||||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 5.0 | Sold | 6.6 | 6.0 | 0.6 | |||||||||||||||||||||||||||||||||||||||
GBP | 1/11/2023 | JP Morgan Chase Bank | £ | 1.4 | Sold | 1.9 | 1.7 | 0.2 | |||||||||||||||||||||||||||||||||||||||
GBP | 10/13/2023 | JP Morgan Chase Bank | £ | 6.2 | Sold | 8.5 | 7.5 | 1.0 | |||||||||||||||||||||||||||||||||||||||
NOK | 8/8/2025 | JP Morgan Chase Bank | NOK | 45.0 | Sold | 4.8 | 4.7 | 0.1 | |||||||||||||||||||||||||||||||||||||||
SEK | 5/10/2024 | JP Morgan Chase Bank | SEK | 503.0 | Sold | 60.1 | 49.3 | 10.8 | |||||||||||||||||||||||||||||||||||||||
SEK | 5/10/2024 | JP Morgan Chase Bank | SEK | 34.5 | Sold | 4.1 | 3.4 | 0.7 | |||||||||||||||||||||||||||||||||||||||
SEK | 5/10/2024 | JP Morgan Chase Bank | SEK | 68.0 | Sold | 8.1 | 6.7 | 1.4 | |||||||||||||||||||||||||||||||||||||||
SEK | 5/10/2024 | JP Morgan Chase Bank | SEK | 250.0 | Sold | 26.3 | 24.5 | 1.8 | |||||||||||||||||||||||||||||||||||||||
SEK | 8/8/2025 | JP Morgan Chase Bank | SEK | 119.3 | Sold | 13.3 | 11.8 | 1.5 | |||||||||||||||||||||||||||||||||||||||
SEK | 8/8/2025 | JP Morgan Chase Bank | SEK | 27.8 | Sold | 3.1 | 2.7 | 0.4 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 236.9 | $ | 213.3 | $ | 23.6 |
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 December 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 | 16.2 | (21.4) | — | (1.6) | 53.1 | 4.1 | — | 0.2 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
athenahealth Inc | — | 6.8 | (6.1) | (0.7) | — | — | 0.2 | — | 0.2 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc | 49.2 | 4.7 | (2.2) | (0.2) | (42.7) | 8.8 | 3.7 | 2.7 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc | 21.9 | 0.1 | — | — | (2.6) | 19.4 | 2.2 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 0.4 | — | — | (0.4) | 15.0 | 1.8 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fairway Group Holdings Corp | 0.7 | — | — | (1.0) | 0.3 | — | — | — | — | — |
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 December 31, 2022 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend Income(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fairway Group Holdings Corp | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Micronics Filtration Holdings Inc | 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(4) | 6.0 | 0.1 | — | — | (5.6) | 0.5 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc(4) | — | 4.5 | (2.5) | — | — | 2.0 | 0.3 | 0.2 | 0.3 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ThermaSys Corp | 3.5 | — | — | — | 5.1 | 8.6 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—Second Lien | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc | 6.7 | — | — | — | (3.4) | 3.3 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Constellis Holdings LLC | 12.0 | 0.3 | — | — | 1.2 | 13.5 | 2.0 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fairway Group Holdings Corp | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc(4) | 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 | 6.7 | — | 0.1 | (0.1) | 10.2 | — | 0.7 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV 2, Private Equity | 0.1 | 0.1 | — | — | — | 0.2 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Home Partners JV 2, Private Equity | 1.6 | 2.9 | — | — | 0.5 | 5.0 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Jet Edge International LLC, Preferred Stock | 16.8 | — | (30.1) | 9.2 | 4.1 | — | 0.7 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Jet Edge International LLC, Warrant | 4.5 | — | (13.5) | 13.5 | (4.5) | — | — | — | — | 1.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Jet Edge International LLC, Term Loan | 75.6 | — | (75.9) | — | 0.3 | — | 11.6 | 2.3 | 3.3 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Orchard Marine Limited, Class B Common Stock | — | — | — | (3.1) | 3.1 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Orchard Marine Limited, Series A Preferred Stock | 64.6 | 0.1 | (66.0) | 3.9 | (2.6) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity/Other | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc, Common Stock | 52.1 | — | — | — | (2.2) | 49.9 | — | 5.5 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
athenahealth Inc, Preferred Stock | — | 311.3 | (47.5) | (1.6) | (31.0) | 231.2 | — | 29.0 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Belk Inc, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Borden (New Dairy Opco), Common Stock | 7.7 | — | — | — | (2.9) | 4.8 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Constellis Holdings LLC, Private Equity | 0.2 | — | — | — | 6.1 | 6.3 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fairway Group Holdings Corp, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fronton BV, Common Stock | 1.4 | — | — | — | (0.4) | 1.0 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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) | — | — | — | — | — |
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 December 31, 2022 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend Income(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | — | — | 0.9 | 1.1 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Proserv Acquisition LLC, Class A Preferred Units | 9.3 | — | — | — | 0.2 | 9.5 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sorenson Communications LLC, Common Stock(4) | 67.5 | — | (65.4) | 22.9 | (25.0) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sungard Availability Services Capital Inc, Common Stock(4) | — | — | — | (6.9) | 6.9 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ThermaSys Corp, Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ThermaSys Corp, Preferred Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 859.0 | $ | 373.5 | $ | (741.3) | $ | 83.6 | $ | (131.4) | $ | 443.4 | $ | 28.2 | $ | 48.2 | $ | 5.6 | $ | 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 December 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 | $ | — | $ | (24.3) | $ | (4.3) | $ | (2.3) | $ | 3.9 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp | 46.8 | 0.4 | (6.6) | — | — | 40.6 | 3.2 | 1.0 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc | 33.6 | 2.0 | — | — | — | 35.6 | 0.8 | 2.1 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc | 2.0 | — | (2.0) | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
NCI Inc | — | 79.1 | (21.9) | (28.5) | (0.6) | 28.1 | 6.5 | 0.4 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc(5) | 5.0 | — | (4.7) | — | (0.3) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | 133.3 | 19.3 | (0.3) | — | 0.2 | 152.5 | 12.9 | 8.0 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | 0.1 | — | — | — | — | 0.1 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | 64.4 | 3.7 | (0.6) | — | 0.6 | 68.1 | 6.4 | 2.0 | — | — |
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 December 31, 2022 | Interest Income(3) | PIK Income(3) | Fee Income(3) | Dividend Income(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Production Resource Group LLC | 20.2 | 11.1 | (0.3) | — | 0.3 | 31.3 | — | 0.9 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Warren Resources Inc | 18.7 | 0.6 | (0.2) | — | (0.5) | 18.6 | 2.5 | 0.2 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—Second Lien | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amtek Global Technology Pte Ltd | — | — | — | (39.1) | 39.1 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Senior Secured Debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co | 81.0 | 0.2 | — | — | (3.1) | 78.1 | 8.0 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc(5) | 23.5 | — | (21.6) | — | (1.9) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp | 7.1 | 3.6 | — | — | 11.2 | 21.9 | 1.6 | 1.5 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders | 46.6 | — | — | — | (46.6) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders | — | — | — | — | — | — | 0.3 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders | — | — | — | — | — | — | 0.1 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Based Finance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
801 5th Ave, Seattle, Structure Mezzanine | 57.2 | 1.9 | — | — | (0.2) | 58.9 | 4.7 | 1.7 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
801 5th Ave, Seattle, Private Equity | 23.1 | — | (0.1) | — | (16.7) | 6.3 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Avenue One PropCo, Private Equity | — | 46.3 | (16.2) | — | 0.9 | 31.0 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Avida Holding AB, Common Stock | 52.3 | — | — | — | (9.7) | 42.6 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Kilter Finance, Preferred Stock | 36.1 | 87.3 | (24.0) | 0.7 | (0.6) | 99.5 | 7.4 | 1.9 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Kilter Finance, Private Equity | 0.5 | — | — | — | — | 0.5 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
KKR Altitude II Offshore Aggregator LP, Partnership Interest | — | 44.4 | — | — | 44.4 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
KKR Rocket Loans Aggregator LLC, Partnership Interest | 1.4 | 2.9 | — | — | — | 4.3 | — | — | — | 1.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
My Community Homes SFR PropCo 2, Private Equity | 33.0 | 157.0 | (105.7) | — | (5.3) | 79.0 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Prime St LLC, Private Equity | 9.1 | — | (0.3) | — | (8.8) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Prime St LLC, Structured Mezzanine | 52.4 | 3.3 | — | — | (12.2) | 43.5 | 3.2 | 3.1 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 78.3 | — | — | (16.4) | 261.2 | — | — | — | 18.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | — | — | (142.9) | 1,428.3 | — | — | — | 208.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | — | 1.7 | — | — | 27.5 | 29.2 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp, Class B-1 Common Stock | — | 5.0 | — | — | — | 5.0 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ATX Networks Corp, Class B-2 Common Stock | — | 4.0 | — | — | 5.0 | 9.0 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders, Class A Common Stock | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilding Anders, Class B 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 December 31, 2022 | 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 | 7.1 | — | — | — | 9.8 | 16.9 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
HM Dunn Co Inc, Preferred Stock, Series B | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co, Common Stock | — | — | — | — | 2.4 | 2.4 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
JW Aluminum Co, Preferred Stock | 122.6 | 22.2 | — | — | (32.3) | 112.5 | 0.6 | 19.7 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
NCI Inc, Class A-1 Common Stock(4) | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
NCI Inc, Class B-1 Common Stock(4) | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
NCI Inc, Class C Common Stock(4) | — | 20.2 | — | — | — | 20.2 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
NCI Inc, Class I-1 Common Stock(4) | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Common Stock(5) | 2.4 | — | (2.1) | — | (0.3) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock A(5) | 26.1 | — | (22.8) | — | (3.3) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc, Preferred Stock B(5) | 9.2 | — | (8.0) | — | (1.2) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
PRG III LLC, Preferred Stock, Series A PIK | 17.4 | — | — | — | 88.3 | 105.7 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
PRG III LLC, Preferred Stock, Series B PIK | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sound United LLC, Common Stock | 77.5 | — | (17.3) | — | (60.2) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Warren Resources Inc, Common Stock | 20.4 | — | — | — | 8.8 | 29.2 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 2,684.1 | $ | 801.5 | $ | (334.7) | $ | (71.4) | $ | (171.1) | $ | 2,908.4 | $ | 58.2 | $ | 43.1 | $ | — | $ | 228.7 |
On June 16, 2021, the Company completed its acquisition, or the 2021 Merger, of FS KKR Capital Corp. II, or FSKR, pursuant to that certain Agreement and Plan of Merger, or the 2020 Merger Agreement, dated as of November 23, 2020, by and among the Company, FSKR, Rocky Merger Sub, Inc., a former wholly-owned subsidiary of the Company, or Merger Sub, and the Advisor. See Note 12 for a discussion of the 2021 Merger.
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, 2021.2022. 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.
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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2022:
Three Months Ended March 31, | ||||||||||||||||||||||||||
2023 | 2022 | |||||||||||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||||||||||
Share Repurchase Program | (1,665,317) | $ | (32) | (404,928) | $ | (9) | ||||||||||||||||||||
Net Proceeds from Share Transactions | (1,665,317) | $ | (32) | (404,928) | $ | (9) |
September 2021
In November 2020,
commissions paid) of $18.89 (totaling $32). During the three months ended March 31, 2022, the Company repurchased 404,928 shares of common stock pursuant to the share repurchase program at an average price per share (inclusive of commissions paid) of $21.98 (totaling $9).
During The program has concluded since the period from April 1, 2022 to April 30, 2022,aggregate repurchase amount that was approved by the Company repurchased 121,143 sharesCompany's board of common stock pursuant to the share repurchase program at an average price per share (inclusivedirectors has been expended.
FS KKR Capital Corp.
Note 3. Share Transactions (continued)
Acquisition of FSKR
In accordance with the terms of the 2020 Merger Agreement, at the time of the transactions contemplated by the 2020 Merger Agreement, each outstanding share of FSKR common stock was converted into the right to receive 0.9498 shares of the Company’s common stock. As a result, the Company issued an aggregate of approximately 161,374,028 shares of its common stock to former FSKR stockholders.
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 | ||||||||||||||||||||||||||||||||||||||
Related Party | March 31, | |||||||||||||||||||||||||||||||||||||
Source Agreement | Description | 2023 | 2022 | |||||||||||||||||||||||||||||||||||
The Advisor | Investment advisory agreement | Base Management Fee(1) | $ | 58 | $ | 62 | ||||||||||||||||||||||||||||||||
The Advisor | Investment advisory agreement | Subordinated Incentive Fee on Income(2) | $ | 46 | $ | 25 | ||||||||||||||||||||||||||||||||
The Advisor | Administration agreement | Administrative Services Expenses(3) | $ | 3 | $ | 4 | ||||||||||||||||||||||||||||||||
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$60, respectively, in base management fees were paid to Unaudited Consolidated Financial Statements (continued)
(the Advisor. As of March 31, 2023, $58 in millions, except sharebase management fees were payable to the Advisor.
Note 4. Related Party Transactions (continued)
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2022, $27 and $19, respectively, of subordinated incentive fees on income were paid to the Advisor. As of March 31, 2023, subordinated incentive fees on income of $46 were payable to the Advisor.
2022.
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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2022:
Distribution | ||||||||||||||
For the Three Months Ended | Per Share | Amount | ||||||||||||
Fiscal 2022 | ||||||||||||||
March 31, 2022 | $ | 0.63 | $ | 179 | ||||||||||
Total | $ | 0.63 | $ | 179 | ||||||||||
Fiscal 2023 | ||||||||||||||
March 31, 2023 | $ | 0.70 | $ | 196 | ||||||||||
Total | $ | 0.70 | $ | 196 |
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 three months ended March 31, 2023 and 2022:
Three Months Ended March 31, | ||||||||||||||||||||||||||
2023 | 2022 | |||||||||||||||||||||||||
Source of Distribution | Distribution Amount | Percentage | Distribution Amount | Percentage | ||||||||||||||||||||||
Return of capital | $ | — | — | $ | — | — | ||||||||||||||||||||
Net investment income(1) | 196 | 100 | % | 179 | 100 | % | ||||||||||||||||||||
Short-term capital gains proceeds from the sale of assets | — | — | — | — | ||||||||||||||||||||||
Long-term capital gains proceeds from the sale of assets | — | — | — | — | ||||||||||||||||||||||
Total | $ | 196 | 100 | % | $ | 179 | 100 | % |
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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83.8%, respectively, of the Company’s gross investment income was attributable to cash income earned, 3.3% and 5.3%, respectively, was attributable to non-cash accretion of discount and 9.2% and 10.9%, respectively, was attributable to PIK interest.
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, 2022,2023, the Company had a deferred tax liability of $18$8 resulting from unrealized appreciation on investments held by the Company’s wholly-owned taxable subsidiaries and a deferred tax asset of $74$71 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, 2022,2023, certain wholly-owned taxable subsidiaries anticipated that they would be unable to fully utilize their generated net operating losses and capital losses, therefore the deferred tax asset was offset by a valuation allowance of $56. For the three months ended March 31, 2022, the Company did not record a provision for taxes related$65.
Unaudited Consolidated Financial Statements (continued)
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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2022:
March 31, 2023 | ||||||||||||||||||||||||||||||||||||||
(Unaudited) | December 31, 2022 | |||||||||||||||||||||||||||||||||||||
Amortized Cost(1) | Fair Value | Percentage of Portfolio | Amortized Cost(1) | Fair Value | Percentage of Portfolio | |||||||||||||||||||||||||||||||||
Senior Secured Loans—First Lien | $ | 9,635 | $ | 9,320 | 61.0 | % | $ | 9,607 | $ | 9,278 | 60.3 | % | ||||||||||||||||||||||||||
Senior Secured Loans—Second Lien | 1,280 | 1,172 | 7.7 | % | 1,299 | 1,194 | 7.8 | % | ||||||||||||||||||||||||||||||
Other Senior Secured Debt | 152 | 107 | 0.7 | % | 152 | 110 | 0.7 | % | ||||||||||||||||||||||||||||||
Subordinated Debt | 399 | 280 | 1.8 | % | 384 | 265 | 1.7 | % | ||||||||||||||||||||||||||||||
Asset Based Finance | 1,916 | 1,779 | 11.7 | % | 2,024 | 1,903 | 12.4 | % | ||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC | 1,572 | 1,397 | 9.1 | % | 1,572 | 1,428 | 9.3 | % | ||||||||||||||||||||||||||||||
Equity/Other | 1,229 | 1,222 | 8.0 | % | 1,276 | 1,199 | 7.8 | % | ||||||||||||||||||||||||||||||
Total | $ | 16,183 | $ | 15,277 | 100.0 | % | $ | 16,314 | $ | 15,377 | 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, 2023, the Company had unfunded debt investments with aggregate unfunded commitments of $941.9, unfunded equity/other commitments of $497.3 and unfunded commitments of $560.2 to Credit Opportunities Partners JV, LLC. As of December 31, 2022, the Company had unfunded debt investments with aggregate unfunded commitments of $1,584.1,$952.4, unfunded equity/otherequity commitments of $497.8$475.3 and unfunded commitments of $262.7 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$560.2 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, 20222023 and the Company’s audited consolidated schedule of investments as of December 31, 2021.
2022.
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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|
March 31, 2023 | ||||||||||||||||||||||||||
(Unaudited) | December 31, 2022 | |||||||||||||||||||||||||
Industry Classification(1) | Fair Value | Percentage of Portfolio | Fair Value | Percentage of Portfolio | ||||||||||||||||||||||
Automobiles & Components | $ | 8 | 0.1 | % | $ | 25 | 0.2 | % | ||||||||||||||||||
Capital Goods | 2,357 | 15.4 | % | 2,366 | 15.4 | % | ||||||||||||||||||||
Commercial & Professional Services | 1,776 | 11.6 | % | 1,670 | 10.9 | % | ||||||||||||||||||||
Consumer Discretionary Distribution & Retail | 282 | 1.8 | % | 282 | 1.8 | % | ||||||||||||||||||||
Consumer Durables & Apparel | 239 | 1.6 | % | 235 | 1.5 | % | ||||||||||||||||||||
Consumer Services | 200 | 1.3 | % | 189 | 1.2 | % | ||||||||||||||||||||
Consumer Staples Distribution & Retail | 106 | 0.7 | % | 103 | 0.7 | % | ||||||||||||||||||||
Credit Opportunities Partners JV, LLC | 1,397 | 9.1 | % | 1,428 | 9.3 | % | ||||||||||||||||||||
Energy | 230 | 1.5 | % | 272 | 1.8 | % | ||||||||||||||||||||
Equity Real Estate Investment Trusts (REITs) | 307 | 2.0 | % | 336 | 2.2 | % | ||||||||||||||||||||
Financial Services | 801 | 5.2 | % | 844 | 5.5 | % | ||||||||||||||||||||
Food, Beverage & Tobacco | 207 | 1.4 | % | 226 | 1.4 | % | ||||||||||||||||||||
Health Care Equipment & Services | 1,951 | 12.8 | % | 1,963 | 12.8 | % | ||||||||||||||||||||
Household & Personal Products | 238 | 1.6 | % | 242 | 1.6 | % | ||||||||||||||||||||
Insurance | 969 | 6.3 | % | 974 | 6.3 | % | ||||||||||||||||||||
Materials | 227 | 1.5 | % | 197 | 1.3 | % | ||||||||||||||||||||
Media & Entertainment | 730 | 4.8 | % | 695 | 4.5 | % | ||||||||||||||||||||
Pharmaceuticals, Biotechnology & Life Sciences | 240 | 1.6 | % | 231 | 1.5 | % | ||||||||||||||||||||
Real Estate Management & Development | 130 | 0.9 | % | 156 | 1.0 | % | ||||||||||||||||||||
Software & Services | 2,525 | 16.5 | % | 2,591 | 16.8 | % | ||||||||||||||||||||
Technology Hardware & Equipment | 2 | 0.0 | % | 1 | 0.0 | % | ||||||||||||||||||||
Telecommunication Services | 73 | 0.5 | % | 76 | 0.5 | % | ||||||||||||||||||||
Transportation | 282 | 1.8 | % | 275 | 1.8 | % | ||||||||||||||||||||
Total | $ | 15,277 | 100.0 | % | $ | 15,377 | 100.0 | % |
Big Cedar Creek LLC, or Big Cedar Creek Funding, a wholly-owned subsidiary
FS KKR Capital Corp.
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, 20222023 and December 31, 2021.
2022.
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 | ||||||||||||||
March 31, 2023 (Unaudited) | December 31, 2022 | |||||||||||||
Total debt investments(1) | $ | 3,254.6 | $ | 3,363.8 | ||||||||||
Weighted average annual yield on accruing debt investments(2) | 11.3 | % | 11.0 | % | ||||||||||
Number of portfolio companies in COPJV | 122 | 122 | ||||||||||||
Largest investment in a single portfolio company | $ | 132.4 | $ | 132.4 | ||||||||||
Unfunded commitments(1) | $ | 3.6 | $ | 3.3 |
____________
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—152.9% | ||||||||||||||||||||||||||||||||||||||||||||||||||
48Forty Solutions LLC | (e)(o) | Commercial & Professional Services | SF+550 | 1.0% | 11/30/26 | $ | 19.3 | $ | 19.1 | $ | 19.1 | |||||||||||||||||||||||||||||||||||||||
Accuride Corp | (i)(j) | Capital Goods | L+525 | 1.0% | 11/17/23 | 20.7 | 20.4 | 16.5 | ||||||||||||||||||||||||||||||||||||||||||
Advania Sverige AB | (e)(o) | Software & Services | SR+610, 0.0% PIK (3.3% Max PIK) | 0.0% | 4/28/28 | SEK | 588.0 | 66.7 | 55.1 | |||||||||||||||||||||||||||||||||||||||||
Advania Sverige AB | (e)(o) | Software & Services | R+610, 0.0% PIK (3.3% Max PIK) | 0.0% | 4/28/28 | ISK | 1,644.9 | 12.8 | 11.6 | |||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc | (e)(h)(i)(o) | Health Care Equipment & Services | SF+450, 1.3% PIK (1.3% Max PIK) | 0.8% | 8/2/28 | $ | 76.2 | 75.7 | 75.2 | |||||||||||||||||||||||||||||||||||||||||
Alacrity Solutions Group LLC | (e)(j)(o) | Insurance | L+525 | 0.8% | 12/22/28 | 40.4 | 39.7 | 39.2 | ||||||||||||||||||||||||||||||||||||||||||
Alera Group Intermediate Holdings Inc | (e)(k)(o) | Insurance | SF+600 | 0.8% | 10/2/28 | 32.2 | 31.8 | 31.2 | ||||||||||||||||||||||||||||||||||||||||||
Alstom SA | (g)(k)(p) | Transportation | L+550, 4.5% PIK (4.5% Max PIK) | 1.0% | 8/29/24 | 6.3 | 5.9 | 3.0 | ||||||||||||||||||||||||||||||||||||||||||
American Vision Partners | (e)(o) | Health Care Equipment & Services | SF+575 | 0.8% | 9/30/27 | 19.5 | 19.3 | 18.8 | ||||||||||||||||||||||||||||||||||||||||||
Ammeraal Beltech Holding BV | (h)(k) | Capital Goods | E+375 | 0.0% | 7/30/25 | € | 4.8 | 4.9 | 5.0 | |||||||||||||||||||||||||||||||||||||||||
Apex Group Limited | (h) | Financial Services | L+375 | 0.5% | 7/27/28 | $ | 4.2 | 4.2 | 4.1 | |||||||||||||||||||||||||||||||||||||||||
Apex Group Limited | (h) | Financial Services | E+400 | 0.0% | 7/27/28 | € | 1.6 | 1.9 | 1.7 |
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) | ||||||||||||||||||||||||||||||||||||||||||
Arcfield Acquisition Corp | (e)(o) | Capital Goods | L+575 | 0.8% | 3/10/28 | $ | 8.0 | $ | 8.0 | $ | 7.9 | |||||||||||||||||||||||||||||||||||||||
Arcos LLC/VA | (e)(h)(j) | Software & Services | L+575 | 1.0% | 3/31/28 | 22.2 | 22.0 | 20.3 | ||||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (e)(i) | Insurance | SA+725 | 0.8% | 7/14/26 | £ | 3.8 | 4.7 | 4.6 | |||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (e)(i) | Insurance | E+725 | 1.0% | 7/14/26 | € | 0.5 | 0.5 | 0.5 | |||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (e)(j)(k)(o) | Insurance | SF+600 | 0.8% | 7/14/26 | $ | 54.8 | 54.3 | 52.7 | |||||||||||||||||||||||||||||||||||||||||
Arrotex Australia Group Pty Ltd | (e)(j)(k)(o) | Pharmaceuticals, Biotechnology & Life Sciences | B+525 | 1.0% | 7/10/24 | A$ | 109.4 | 74.0 | 73.2 | |||||||||||||||||||||||||||||||||||||||||
Arrotex Australia Group Pty Ltd | (e)(j)(k)(o) | Pharmaceuticals, Biotechnology & Life Sciences | B+525 | 1.0% | 7/10/24 | 8.0 | 5.7 | 5.4 | ||||||||||||||||||||||||||||||||||||||||||
athenahealth Inc | (k) | Health Care Equipment & Services | SF+350 | 0.5% | 2/15/29 | $ | 7.1 | 6.4 | 6.7 | |||||||||||||||||||||||||||||||||||||||||
athenahealth Inc | (f) | Health Care Equipment & Services | SF+350 | 0.5% | 2/15/29 | 0.9 | 0.8 | 0.8 | ||||||||||||||||||||||||||||||||||||||||||
Barbri Inc | (e)(h)(i) | Consumer Services | SF+575 | 0.8% | 4/28/28 | 47.1 | 47.1 | 46.8 | ||||||||||||||||||||||||||||||||||||||||||
BearCom Acquisition Corp | (e)(j) | Technology Hardware & Equipment | L+650,0.5% PIK (0.5% Max PIK) | 1.0% | 7/5/24 | 2.2 | 2.2 | 2.2 | ||||||||||||||||||||||||||||||||||||||||||
BearCom Acquisition Corp | (e)(j) | Technology Hardware & Equipment | C+650,0.5% PIK (0.5% Max PIK) | 1.0% | 7/5/24 | C$ | 14.2 | 10.6 | 10.4 | |||||||||||||||||||||||||||||||||||||||||
BearCom Acquisition Corp | (e)(f) | Technology Hardware & Equipment | C+550 | 1.0% | 1/5/24 | 1.3 | 1.0 | 1.0 | ||||||||||||||||||||||||||||||||||||||||||
Belk Inc | Consumer Discretionary Distribution & Retail | L+750 | 1.0% | 7/31/25 | $ | 0.6 | 0.6 | 0.5 | ||||||||||||||||||||||||||||||||||||||||||
Belk Inc | (g)(p) | Consumer Discretionary Distribution & Retail | 5.0%, 8.0% PIK (8.0% Max PIK) | 7/31/25 | 3.1 | 1.7 | 0.5 | |||||||||||||||||||||||||||||||||||||||||||
BGB Group LLC | (e)(h)(i)(o) | Media & Entertainment | L+575 | 1.0% | 8/16/27 | 54.2 | 53.8 | 52.4 | ||||||||||||||||||||||||||||||||||||||||||
Big Bus Tours Ltd | (e)(j) | Consumer Services | L+850 PIK (L+850 Max PIK) | 1.0% | 3/15/24 | 18.1 | 18.1 | 16.9 | ||||||||||||||||||||||||||||||||||||||||||
Big Bus Tours Ltd | (e)(j) | Consumer Services | E+850 PIK (E+850 Max PIK) | 1.0% | 3/15/24 | € | 12.7 | 14.1 | 12.8 | |||||||||||||||||||||||||||||||||||||||||
Bugaboo International BV | (e)(h)(i) | Consumer Durables & Apparel | E+700, 0.0% PIK (7.8% Max PIK) | 0.0% | 3/20/25 | 35.0 | 41.0 | 38.0 | ||||||||||||||||||||||||||||||||||||||||||
CFC Underwriting Ltd | (e)(h)(j) | Insurance | SF+500,0.0% PIK (2.8% Max PIK) | 0.5% | 5/16/29 | $ | 39.5 | 39.1 | 39.5 | |||||||||||||||||||||||||||||||||||||||||
Cision Ltd | Software & Services | L+375 | 0.0% | 1/29/27 | 3.8 | 3.4 | 2.5 | |||||||||||||||||||||||||||||||||||||||||||
ClubCorp Club Operations Inc | (j)(k) | Consumer Services | L+275 | 0.0% | 9/18/24 | 31.9 | 29.9 | 30.5 | ||||||||||||||||||||||||||||||||||||||||||
Creation Technologies Inc | (k) | Technology Hardware & Equipment | L+550 | 0.5% | 10/5/28 | 2.3 | 2.1 | 2.0 | ||||||||||||||||||||||||||||||||||||||||||
CSafe Global | (e)(h)(i)(k) | Capital Goods | SF+625 | 1.0% | 12/23/27 | 59.2 | 59.1 | 59.2 | ||||||||||||||||||||||||||||||||||||||||||
CSafe Global | (e)(h) | Capital Goods | SF+625 | 1.0% | 8/13/28 | 17.2 | 17.2 | 17.2 | ||||||||||||||||||||||||||||||||||||||||||
Cubic Corp | (i) | Software & Services | SF+425 | 0.8% | 5/25/28 | 9.0 | 9.1 | 7.8 | ||||||||||||||||||||||||||||||||||||||||||
Emerald Expositions Holding Inc | (k) | Media & Entertainment | L+250 | 0.0% | 5/22/24 | 1.4 | 1.3 | 1.4 | ||||||||||||||||||||||||||||||||||||||||||
Encora Digital Inc | (e)(o) | Commercial & Professional Services | L+550, 0.0% PIK (2.4% Max PIK) | 0.8% | 12/20/28 | 16.3 | 15.9 | 15.6 | ||||||||||||||||||||||||||||||||||||||||||
Envirotainer Ltd | (e)(h) | Transportation | E+600, 0.0% PIK (3.0% Max PIK) | 0.0% | 7/30/29 | € | 14.9 | 13.9 | 15.8 | |||||||||||||||||||||||||||||||||||||||||
Envirotainer Ltd | (e)(i) | Transportation | SF+600, 0.0% PIK (3.0% Max PIK) | 0.8% | 7/30/29 | $ | 7.6 | 7.4 | 7.4 | |||||||||||||||||||||||||||||||||||||||||
Excelitas Technologies Corp | (e)(k) | Technology Hardware & Equipment | E+575 | 0.0% | 8/12/29 | € | 4.1 | 4.2 | 4.3 | |||||||||||||||||||||||||||||||||||||||||
Excelitas Technologies Corp | (e)(j)(k) | Technology Hardware & Equipment | SF+575 | 0.8% | 8/12/29 | $ | 24.5 | 24.3 | 24.1 | |||||||||||||||||||||||||||||||||||||||||
Follett Software Co | (e)(h)(i) | Software & Services | SF+575 | 0.8% | 8/31/28 | 37.4 | 37.1 | 36.9 | ||||||||||||||||||||||||||||||||||||||||||
Galaxy Universal LLC | (e)(h) | Consumer Durables & Apparel | SF+500 | 1.0% | 11/12/26 | 7.5 | 7.5 | 7.2 | ||||||||||||||||||||||||||||||||||||||||||
Galway Partners Holdings LLC | (e)(k)(o) | Insurance | SF+525, 0.0% PIK (1.3% Max PIK) | 0.8% | 9/29/28 | 36.8 | 36.1 | 36.1 | ||||||||||||||||||||||||||||||||||||||||||
General Datatech LP | (e)(j) | Software & Services | SF+625 | 1.0% | 6/18/27 | 18.2 | 17.6 | 17.4 | ||||||||||||||||||||||||||||||||||||||||||
Greystone Equity Member Corp | (e) | Financial Services | L+725 | 3.8% | 4/1/26 | 30.2 | 30.1 | 29.1 | ||||||||||||||||||||||||||||||||||||||||||
HealthChannels LLC | (j) | Health Care Equipment & Services | L+450 | 0.0% | 4/3/25 | 15.4 | 15.3 | 9.1 | ||||||||||||||||||||||||||||||||||||||||||
Hermes UK Ltd | (e)(k) | Transportation | SA+650 | 0.0% | 11/30/27 | £ | 14.7 | 19.6 | 16.7 | |||||||||||||||||||||||||||||||||||||||||
Higginbotham Insurance Agency Inc | (e)(h)(i) | Insurance | L+525 | 0.8% | 11/25/26 | $ | 37.5 | 37.9 | 37.3 |
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 Industria Chimica Emiliana Srl (e)(j)(k)(o) Pharmaceuticals, Biotechnology & Life Sciences E+725 0.0% 9/27/26 € 113.9 $ 125.6 $ 120.4 iNova Pharmaceuticals (Australia) Pty Limited (e)(k) Pharmaceuticals, Biotechnology & Life Sciences B+650 0.8% 10/30/28 A$ 34.2 22.5 22.3 Insight Global LLC (e)(h)(i)(o) Commercial & Professional Services SF+600 0.8% 9/22/28 $ 63.5 62.8 62.0 KBP Investments LLC (e)(h) Consumer Staples Distribution & Retail SF+550, 1.0% PIK (1.0% Max PIK) 0.8% 5/26/27 14.6 14.6 13.5 KBP Investments LLC (e)(i) Consumer Staples Distribution & Retail SF+550, 0.5% PIK (0.5% Max PIK) 0.8% 5/26/27 9.0 9.0 8.4 Kellermeyer Bergensons Services LLC (e)(i)(j) Commercial & Professional Services L+600 1.0% 11/7/26 29.1 28.1 26.8 Lakefield Veterinary Group (e)(o) Health Care Equipment & Services SF+550 0.8% 11/23/28 27.0 26.7 26.0 Lakeview Farms Inc (e)(j) Food, Beverage & Tobacco SF+625 1.0% 6/10/27 15.5 15.4 15.0 Lexitas Inc (e)(h) Commercial & Professional Services SF+675 1.0% 5/18/29 18.4 18.4 18.3 Lionbridge Technologies Inc (e)(i)(j) Media & Entertainment SF+700 1.0% 12/29/25 26.1 25.6 26.2 Lloyd's Register Quality Assurance Ltd (e)(i)(o) Consumer Services E+575, 0.0% PIK (6.3% Max PIK) 0.0% 12/2/28 € 44.3 48.8 47.1 MB2 Dental Solutions LLC (e)(i) Health Care Equipment & Services SF+600 1.0% 1/29/27 $ 11.9 11.8 11.7 Med-Metrix (e)(o) Software & Services SF+600 1.0% 9/15/27 11.8 11.8 12.0 Misys Ltd (k) Software & Services L+350 1.0% 6/13/24 2.3 2.2 2.1 Monitronics International Inc (h)(i)(k) Commercial & Professional Services L+600 1.5% 7/3/24 35.5 33.9 33.8 Motion Recruitment Partners LLC (e)(h)(j) Commercial & Professional Services SF+650 1.0% 12/22/25 24.7 24.5 24.7 New Era Technology Inc (e)(j) Software & Services SF+625 1.0% 10/31/26 9.9 9.9 9.7 New Era Technology Inc (e)(h)(j)(k) Software & Services SF+625 1.0% 10/31/26 24.3 23.9 24.0 Novotech Pty Ltd (e)(k)(o) Health Care Equipment & Services SF+525 0.5% 1/13/28 24.4 24.0 23.8 Novotech Pty Ltd (e)(k)(o) Health Care Equipment & Services B+525 0.5% 1/13/28 A$ 33.7 24.8 21.9 One Call Care Management Inc (h) Health Care Equipment & Services L+550 0.8% 4/22/27 $ 4.9 4.9 3.7 Ontic Engineering & Manufacturing Inc (h) Capital Goods L+400 0.0% 10/30/26 2.1 1.9 2.1 Pantherx Specialty LLC (e)(j) Pharmaceuticals, Biotechnology & Life Sciences SF+550 0.5% 7/16/29 15.9 14.8 15.0 Parts Town LLC (e)(h)(k)(o) Consumer Discretionary Distribution & Retail SF+598 0.8% 11/1/28 49.3 48.2 47.8 Peraton Corp (j) Capital Goods SF+375 0.8% 2/1/28 8.7 8.4 8.7 Plaskolite, LLC (k) Materials L+400 0.8% 12/15/25 1.1 1.1 1.0 Precision Global Corp (e)(j) Materials L+475 1.0% 8/3/24 8.9 8.7 8.8 Pretium Packaging LLC (j) Household & Personal Products L+400 0.5% 10/2/28 1.6 1.6 1.3 Project Marron (e)(h)(j)(k) Consumer Services B+625 0.5% 7/2/25 A$ 81.8 56.5 50.6 Project Marron (e)(i)(j) Consumer Services C+625 0.5% 7/2/25 C$ 52.5 40.2 35.9 Pure Fishing Inc (i) Consumer Durables & Apparel L+450 0.0% 12/22/25 $ 9.8 9.7 6.1 Reliant Rehab Hospital Cincinnati LLC (e)(j)(o) Health Care Equipment & Services L+625 0.0% 3/2/26 33.3 32.4 22.1 Revere Superior Holdings Inc (e)(k) Software & Services L+575 1.0% 9/30/26 19.5 19.5 19.3 Rise Baking Company (e)(k) Food, Beverage & Tobacco SF+650 1.0% 8/13/27 0.2 0.2 0.2 Rise Baking Company (e)(j)(k) Food, Beverage & Tobacco SF+650 1.0% 8/13/27 30.3 29.8 29.5 Rise Baking Company (e)(f) Food, Beverage & Tobacco SF+650 1.0% 8/13/27 1.7 1.7 1.7 RSC Insurance Brokerage Inc (e)(k) Insurance SF+550 0.8% 10/30/26 18.8 18.7 18.4 Safe-Guard Products International LLC (e)(i)(j)(k) Financial Services L+500 0.5% 1/27/27 71.7 72.1 71.7 SAMBA Safety Inc (e)(h)(j) Software & Services L+525 1.0% 9/1/27 27.0 26.8 26.8 SavATree LLC (e)(j)(k) Consumer Services L+525 0.8% 10/12/28 39.5 39.2 38.7 SI Group Inc (k) Materials SF+475 0.0% 10/15/25 1.5 1.5 1.3 SIRVA Worldwide Inc (i) Commercial & Professional Services L+550 0.0% 8/4/25 6.8 6.6 6.3
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 SitusAMC Holdings Corp (e)(j)(o) Real Estate Management & Development L+550 0.8% 12/22/27 39.4 $ 38.6 $ 38.4 Solina France SASU (e)(k) Food, Beverage & Tobacco SF+650 0.0% 7/31/28 20.5 20.3 20.4 Sorenson Communications LLC (j) Telecommunication Services L+550 0.8% 3/17/26 19.3 18.7 18.4 Staples Canada (e)(h)(i)(j)(k) Consumer Discretionary Distribution & Retail C+700 1.0% 9/12/24 C$ 71.0 54.5 53.5 Summit Interconnect Inc (e)(o) Capital Goods SF+600 1.0% 9/22/28 $ 19.5 19.2 18.4 Time Manufacturing Co (e)(h)(i) Capital Goods E+650 0.8% 12/1/27 € 29.2 32.5 29.7 Total Safety US Inc (h)(i) Capital Goods L+600 1.0% 8/18/25 $ 11.0 10.0 10.5 Transaction Services Group Ltd (e)(j)(k)(n)(o) Software & Services B+550 0.0% 10/14/26 A$ 124.1 85.3 81.4 Unifrax I LLC / Unifrax Holding Co (k) Capital Goods L+375 0.0% 12/12/25 $ 2.8 2.7 2.6 Varsity Brands Inc (k) Consumer Durables & Apparel L+350 1.0% 12/16/24 4.0 3.8 3.7 Version1 Software Ltd (e)(k) Software & Services E+575, 0.0% PIK (1.7% Max PIK) 0.0% 7/11/29 € 2.5 2.5 2.6 Version1 Software Ltd (e)(k) Software & Services SA+575, 0.0% PIK (1.7% Max PIK) 0.0% 7/11/29 £ 4.0 4.7 4.8 Wealth Enhancement Group LLC (e)(j)(k) Financial Services SF+600 1.0% 10/4/27 $ 28.1 27.9 27.9 West Corp (i) Commercial & Professional Services SF+400 1.0% 4/10/27 4.8 4.8 4.2 Woolpert Inc (e)(h)(i)(j) Capital Goods L+600 1.0% 4/5/28 52.9 52.4 50.3 Worldwise Inc (e)(h)(i)(j)(k)(o) Household & Personal Products SF+625 1.0% 3/29/28 64.5 61.7 59.3 Yak Access LLC (n) Capital Goods SF+640 1.0% 3/10/28 0.5 0.4 0.4 Total Senior Secured Loans—First Lien 2,545.9 2,444.4 Unfunded Loan Commitments (3.6) (3.6) Net Senior Secured Loans—First Lien 2,542.3 2,440.8 Senior Secured Loans—Second Lien—23.0% Access CIG LLC (h)(i) Commercial & Professional Services L+775 0.0% 2/27/26 2.5 2.3 2.3 Ammeraal Beltech Holding BV (e)(h)(k)(o) Capital Goods L+775 0.0% 9/12/26 42.8 42.1 42.8 Apex Group Limited (e)(h)(i)(o) Financial Services L+675 0.5% 7/27/29 40.0 39.7 38.8 Cubic Corp (e)(k) Software & Services SF+763 0.8% 5/25/29 10.0 9.7 9.0 EaglePicher Technologies LLC (h) Capital Goods L+725 0.0% 3/8/26 0.4 0.4 0.3 Element Materials Technology Group US Holdings Inc (e)(h)(i) Commercial & Professional Services SA+725 0.5% 6/24/30 £ 21.0 23.0 25.7 Misys Ltd (h)(i)(k)(o) Software & Services L+725 1.0% 6/13/25 $ 46.6 44.9 37.8 NEP Broadcasting LLC (i) Media & Entertainment L+700 0.0% 10/19/26 6.8 6.8 5.6 OEConnection LLC (e)(h)(i)(j) Software & Services SF+700 0.5% 9/25/27 50.0 50.0 48.3 Paradigm Acquisition Corp (h)(k) Health Care Equipment & Services L+750 0.0% 10/26/26 2.5 2.5 2.5 Peraton Corp (e)(h)(i) Capital Goods SF+775 0.8% 2/1/29 21.5 21.3 21.5 Pretium Packaging LLC (e)(h)(i)(j) Household & Personal Products L+675 0.5% 10/1/29 39.9 39.7 30.9 Pure Fishing Inc (e)(h) Consumer Durables & Apparel L+838 1.0% 12/21/26 26.5 24.3 14.4 SIRVA Worldwide Inc (i)(j) Commercial & Professional Services L+950 0.0% 8/3/26 10.3 8.8 8.9 Valeo Foods Group Ltd (e)(h) Food, Beverage & Tobacco SA+800 0.0% 9/28/29 £ 9.3 11.8 9.6 Wittur Holding GmbH (e)(g)(n)(p) Capital Goods E+850, 1.0% PIK 1.0% Max PIK) 0.0% 10/4/27 € 121.1 132.4 68.6 Total Senior Secured Loans—Second Lien 459.7 367.0 Other Senior Secured Debt—1.2% One Call Care Management Inc (e) Health Care Equipment & Services 8.5% PIK (8.5% Max PIK) 11/1/28 $ 25.6 25.1 18.8
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 Total Other Senior Secured Debt 25.1 18.8 Subordinated Debt—1.3% Arrotex Australia Group Pty Ltd (e) Pharmaceuticals, Biotechnology & Life Sciences B+1,150 PIK (B+1,150 Max PIK) 1.0% 12/22/26 A$ 25.0 $ 16.2 $ 16.5 athenahealth Inc Health Care Equipment & Services 6.5% 2/15/30 $ 5.5 4.8 4.5 Total Subordinated Debt 21.0 21.0 Asset Based Finance—33.8% Abacus JV, Private Equity (e) Insurance 30,011,455 30.8 31.4 Altavair AirFinance, Private Equity (e) Capital Goods 33,964,539 40.0 37.5 Connecticut Avenue Securities Trust 2022-R08, Structured Mezzanine Real Estate Management & Development SF+560 0.0% 7/25/42 $ 2.3 2.3 2.4 GA Capital Specialty Lending Fund, Limited Partnership Interest (e)(n) Financial Services $ 1.0 — 0.9 Global Lending Services LLC, Private Equity (e)(n) Financial Services 1,884,606 1.9 2.2 Global Lending Services LLC, Private Equity (e) Financial Services 16,218,551 21.3 16.5 Kilter Finance, Preferred Stock (e) Insurance 12.0% $ 24.0 24.0 24.0 KKR Chord IP Aggregator LP, Partnership Interest (e) Media & Entertainment 19,616,330 22.9 21.7 KKR Zeno Aggregator LP (K2 Aviation), Partnership Interest (e)(n)(p) Capital Goods 19,642,734 24.4 17.1 Lenovo Group Ltd, Structured Mezzanine (e) Technology Hardware & Equipment SF+1050 1.0% 9/30/24 $ 4.7 4.7 4.7 Lenovo Group Ltd, Structured Mezzanine (e) Technology Hardware & Equipment E+1,050 1.0% 9/30/24 € 3.6 3.6 3.9 Lenovo Group Ltd, Structured Mezzanine (e) Technology Hardware & Equipment E+650 1.0% 9/30/24 € 5.0 5.0 5.4 Lenovo Group Ltd, Structured Mezzanine (e) Technology Hardware & Equipment SA+650 1.0% 9/30/24 £ 1.1 1.3 1.4 Lenovo Group Ltd, Structured Mezzanine (e) Technology Hardware & Equipment SF+650 1.0% 9/30/24 $ 6.5 6.5 6.5 Lenovo Group Ltd, Structured Mezzanine (e) Technology Hardware & Equipment SA+1,050 1.0% 9/30/24 £ 0.8 0.9 1.0 Luxembourg Life Fund - Absolute Return Fund I, 1L Term Loan (e)(h)(n) Insurance L+750 1.5% 2/27/25 $ 21.1 21.1 21.2 Luxembourg Life Fund - Absolute Return Fund II, Structured Mezzanine (e)(h)(i) Insurance SF+750 0.5% 2/10/27 $ 24.8 24.6 24.7 Luxembourg Life Fund - Absolute Return Fund III, Term Loan (e)(h)(k)(n) Insurance L+925 0.0% 5/27/26 $ 55.8 55.4 56.8 My Community Homes PropCo 2, Private Equity (e)(p) Equity Real Estate Investment Trusts (REITs) 33,689,910 33.7 33.2 NewStar Clarendon 2014-1A Class D (e)(k)(n) Financial Services 16.8% 1/25/27 $ 30.0 9.3 13.3 Pretium Partners LLC P1, Structured Mezzanine (e)(h)(i) Equity Real Estate Investment Trusts (REITs) 2.8%, 5.3% PIK (5.3% Max PIK) 10/22/26 $ 30.4 29.4 29.5 Pretium Partners LLC P2, Private Equity (e) Equity Real Estate Investment Trusts (REITs) 16,772,368 16.2 18.4 Pretium Partners LLC P2, Term Loan (e)(i) Equity Real Estate Investment Trusts (REITs) 11.0% 12/16/29 $ 33.5 32.9 32.9 Roemanu LLC (FKA Toorak Capital Partners LLC), Private Equity (e) Financial Services 40,000,000 50.2 46.2
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 Saluda Grade Alternative Mortgage Trust 2022-BC2, Structured Mezzanine (e) Real Estate Management & Development 8.0% 7/25/30 $ 5.7 $ 5.7 $ 5.7 Saluda Grade Alternative Mortgage Trust 2022-BC2, Term Loan (e) Real Estate Management & Development 7.3% 7/25/30 $ 34.5 34.1 34.1 Sealane Trade Finance (e)(m)(p) Banks 1,104,510 1.1 0.2 SG Residential Mortgage Trust 2022-2, Structured Mezzanine Real Estate Management & Development 5.4% 8/25/62 $ 4.6 3.8 3.9 Star Mountain Strategic Credit Income Fund IV LP, Private Equity (e) Financial Services 42,500,000 42.5 43.3 Total Asset Based Finance 549.6 540.0 Equity/Other—10.6% 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) 50,000,000 47.5 43.1 Belk Inc, Common Stock (e)(p) Consumer Discretionary Distribution & Retail 381 — — Misys Ltd, Preferred Stock (e) Software & Services L+1,025 PIK (L+1,025 Max PIK) 0.0% 26,221,656 25.7 22.9 One Call Care Management Inc, Common Stock (e)(p) Health Care Equipment & Services 34,873 2.2 1.3 One Call Care Management Inc, Preferred Stock A (e)(p) Health Care Equipment & Services 371,993 23.7 17.7 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 8.7 7.7 Pure Gym Ltd, Private Equity (e)(p) Consumer Services 30,218,000 39.4 41.1 Yak Access LLC, Common Stock (n)(p) Capital Goods 1,256 — — Yak Access LLC, Preferred Stock (n)(p) Capital Goods 301,310 — — Total Equity/Other 181.3 168.7 TOTAL INVESTMENTS—222.8% $ 3,779.0 $ 3,556.3 Derivative Instruments—0.2% Foreign currency forward contracts $ 2.8
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 |
SONIA, was 4.18%, the Secured Overnight Financing Rate, or SOFR, was 4.91% and the U.S. Prime Lending Rate, or Prime, was 8.00%. PIK means paid-in-kind. PIK income accruals may be adjusted based on the fair value of the underlying investment.
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 |
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—148.1% | ||||||||||||||||||||||||||||||||||||||||||||||||||
48Forty Solutions LLC | (e)(o) | Commercial & Professional Services | SF+550 | 1.0% | 11/30/26 | $ | 19.4 | $ | 19.2 | $ | 18.8 | |||||||||||||||||||||||||||||||||||||||
Accuride Corp | (i)(j) | Capital Goods | L+525 | 1.0% | 11/17/23 | 20.8 | 20.4 | 17.7 | ||||||||||||||||||||||||||||||||||||||||||
Advania Sverige AB | (e)(o) | Software & Services | SR+610, 0.0% PIK (3.3% Max PIK) | 0.0% | 4/28/28 | SEK | 588.0 | 66.6 | 54.1 | |||||||||||||||||||||||||||||||||||||||||
Advania Sverige AB | (e)(o) | Software & Services | R+610, 0.0% PIK (3.3% Max PIK) | 0.0% | 4/28/28 | ISK | 1,644.9 | 12.8 | 11.2 | |||||||||||||||||||||||||||||||||||||||||
Affordable Care Inc | (e)(h)(i)(o) | Health Care Equipment & Services | L+550, 0.0% PIK (1.3% Max PIK) | 0.8% | 8/2/28 | $ | 76.1 | 75.6 | 74.6 | |||||||||||||||||||||||||||||||||||||||||
Alacrity Solutions Group LLC | (e)(j)(o) | Insurance | L+525 | 0.8% | 12/22/28 | 40.6 | 39.9 | 39.1 | ||||||||||||||||||||||||||||||||||||||||||
Alera Group Intermediate Holdings Inc | (e)(k)(o) | Insurance | SF+600 | 0.8% | 10/2/28 | 32.3 | 31.9 | 30.7 | ||||||||||||||||||||||||||||||||||||||||||
Alstom SA | (k) | Transportation | L+550, 2.5% PIK (2.5% Max PIK) | 1.0% | 8/29/24 | 6.2 | 5.8 | 3.5 | ||||||||||||||||||||||||||||||||||||||||||
American Airlines Group Inc | (k) | Transportation | L+175 | 0.0% | 6/27/25 | 2.5 | 2.3 | 2.4 | ||||||||||||||||||||||||||||||||||||||||||
American Vision Partners | (e)(o) | Health Care Equipment & Services | L+575 | 0.8% | 9/30/27 | 19.5 | 19.3 | 18.9 | ||||||||||||||||||||||||||||||||||||||||||
Ammeraal Beltech Holding BV | (h)(k) | Capital Goods | E+375 | 0.0% | 7/30/25 | € | 4.8 | 4.8 | 4.8 | |||||||||||||||||||||||||||||||||||||||||
Apex Group Limited | (h) | Diversified Financials | L+375 | 0.5% | 7/27/28 | $ | 4.2 | 4.2 | 4.0 | |||||||||||||||||||||||||||||||||||||||||
Apex Group Limited | (h) | Diversified Financials | E+400 | 0.0% | 7/27/28 | € | 1.6 | 1.9 | 1.6 | |||||||||||||||||||||||||||||||||||||||||
Arcfield Acquisition Corp | (e)(o) | Capital Goods | L+575 | 0.8% | 3/10/28 | $ | 8.0 | 8.0 | 7.9 | |||||||||||||||||||||||||||||||||||||||||
Arcos LLC/VA | (e)(h)(j) | Software & Services | L+575 | 1.0% | 3/31/28 | 22.2 | 22.0 | 20.6 | ||||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (e)(i) | Insurance | SA+700 | 0.8% | 7/14/26 | £ | 3.8 | 4.7 | 4.5 | |||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (e)(i) | Insurance | E+700 | 1.0% | 7/14/26 | € | 0.5 | 0.5 | 0.5 | |||||||||||||||||||||||||||||||||||||||||
Ardonagh Group Ltd | (e)(j)(k)(o) | Insurance | SF+575 | 0.8% | 7/14/26 | $ | 54.8 | 54.3 | 53.1 | |||||||||||||||||||||||||||||||||||||||||
Arrotex Australia Group Pty Ltd | (e)(j)(k)(o) | Pharmaceuticals, Biotechnology & Life Sciences | B+525 | 1.0% | 7/10/24 | A$ | 109.4 | 73.9 | 74.5 | |||||||||||||||||||||||||||||||||||||||||
Arrotex Australia Group Pty Ltd | (e)(j)(k)(o) | Pharmaceuticals, Biotechnology & Life Sciences | B+525 | 1.0% | 7/10/24 | 8.0 | 5.7 | 5.4 | ||||||||||||||||||||||||||||||||||||||||||
athenahealth Inc | (k) | Health Care Equipment & Services | SF+350 | 0.5% | 2/15/29 | $ | 7.1 | 6.4 | 6.4 | |||||||||||||||||||||||||||||||||||||||||
athenahealth Inc | (f) | Health Care Equipment & Services | SF+350 | 0.5% | 2/15/29 | 0.9 | 0.9 | 0.8 | ||||||||||||||||||||||||||||||||||||||||||
Barbri Inc | (e)(h)(i) | Consumer Services | L+575 | 0.8% | 4/28/28 | 47.2 | 47.3 | 46.9 | ||||||||||||||||||||||||||||||||||||||||||
BearCom Acquisition Corp | (e)(j) | Technology Hardware & Equipment | L+650, 0.0% PIK (0.5% Max PIK) | 1.0% | 7/5/24 | 2.2 | 2.2 | 2.2 | ||||||||||||||||||||||||||||||||||||||||||
BearCom Acquisition Corp | (e)(j) | Technology Hardware & Equipment | C+650, 0.0% PIK (0.5% Max PIK) | 1.0% | 7/5/24 | C$ | 14.3 | 10.6 | 10.3 | |||||||||||||||||||||||||||||||||||||||||
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 | (g)(p) | Retailing | 5.0%, 8.0% PIK (8.0% Max PIK) | 7/31/25 | 3.1 | 1.7 | 0.4 | |||||||||||||||||||||||||||||||||||||||||||
BGB Group LLC | (e)(h)(i)(o) | Media & Entertainment | L+575 | 1.0% | 8/16/27 | 54.4 | 54.0 | 53.0 | ||||||||||||||||||||||||||||||||||||||||||
Big Bus Tours Ltd | (e)(j) | Consumer Services | L+850 PIK (L+850 Max PIK) | 1.0% | 3/15/24 | 10.7 | 10.7 | 8.8 | ||||||||||||||||||||||||||||||||||||||||||
Big Bus Tours Ltd | (e)(j) | Consumer Services | E+850 PIK (E+850 Max PIK) | 1.0% | 3/15/24 | € | 12.6 | 14.0 | 11.0 | |||||||||||||||||||||||||||||||||||||||||
Big Bus Tours Ltd | (e)(j) | Consumer Services | L+850 PIK (L+850 Max PIK) | 1.0% | 3/15/24 | $ | 7.2 | 7.2 | 5.9 | |||||||||||||||||||||||||||||||||||||||||
Bugaboo International BV | (e)(h)(i) | Consumer Durables & Apparel | E+700, 0.0% PIK (7.8% Max PIK) | 0.0% | 3/20/25 | € | 35.0 | 41.0 | 37.4 | |||||||||||||||||||||||||||||||||||||||||
CFC Underwriting Ltd | (e)(h)(j) | Insurance | SF+500, 0.0% PIK (2.8% Max PIK) | 0.5% | 5/16/29 | $ | 39.5 | 38.3 | 39.2 | |||||||||||||||||||||||||||||||||||||||||
Cision Ltd | Software & Services | L+375 | 0.0% | 1/29/27 | 3.8 | 3.4 | 2.4 | |||||||||||||||||||||||||||||||||||||||||||
ClubCorp Club Operations Inc | (j)(k) | Consumer Services | L+275 | 0.0% | 9/18/24 | 31.9 | 29.9 | 28.9 | ||||||||||||||||||||||||||||||||||||||||||
Creation Technologies Inc | (k) | Technology Hardware & Equipment | L+550 | 0.5% | 10/5/28 | 2.3 | 2.1 | 1.8 | ||||||||||||||||||||||||||||||||||||||||||
CSafe Global | (e)(h)(i)(k) | Capital Goods | L+625 | 0.8% | 12/23/27 | 59.4 | 59.3 | 59.4 | ||||||||||||||||||||||||||||||||||||||||||
CSafe Global | (e)(h) | Capital Goods | L+625 | 0.8% | 8/13/28 | 17.3 | 17.3 | 17.3 | ||||||||||||||||||||||||||||||||||||||||||
Cubic Corp | (i) | Software & Services | L+425 | 0.8% | 5/25/28 | 9.1 | 9.1 | 7.7 |
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 EIF Van Hook Holdings LLC (i)(k) Energy SF+525 0.0% 9/5/24 7.2 $ 7.0 $ 7.0 Emerald Expositions Holding Inc (k) Media & Entertainment L+250 0.0% 5/22/24 1.4 1.3 1.4 Encora Digital Inc (e)(o) Software & Services L+550, 0.0% PIK (2.4% Max PIK) 0.8% 12/20/28 16.3 15.9 15.4 Envirotainer Ltd (e)(h) Transportation E+600, 0.0% PIK (3.0% Max PIK) 0.0% 7/30/29 € 14.9 13.9 15.1 Envirotainer Ltd (e)(i) Transportation SF+600, 0.0% PIK (3.0% Max PIK) 0.8% 7/30/29 $ 7.6 7.4 7.3 Excelitas Technologies Corp (e)(k) Technology Hardware & Equipment E+575 0.0% 8/12/29 € 4.1 4.2 4.2 Excelitas Technologies Corp (e)(j)(k) Technology Hardware & Equipment SF+575 0.8% 8/12/29 $ 24.5 24.3 23.9 Follett Software Co (e)(h)(i) Software & Services L+575 0.8% 8/31/28 37.5 37.2 36.7 Galaxy Universal LLC (e)(h) Consumer Durables & Apparel SF+500 1.0% 11/12/26 8.8 8.8 8.7 Galway Partners Holdings LLC (e)(k)(o) Insurance L+525, 0.0% PIK (1.3% Max PIK) 0.8% 9/29/28 36.9 36.2 36.4 General Datatech LP (e)(j) Software & Services L+625 1.0% 6/18/27 18.3 17.7 17.1 Greystone Equity Member Corp (e) Diversified Financials L+725 3.8% 4/1/26 30.2 30.1 29.3 HealthChannels LLC (j) Health Care Equipment & Services L+450 0.0% 4/3/25 15.4 15.3 10.9 Hermes UK Ltd (e)(k) Transportation SA+650 0.0% 11/30/27 £ 14.7 19.5 16.1 Higginbotham Insurance Agency Inc (e)(h)(i) Insurance L+525 0.8% 11/25/26 $ 37.6 38.0 37.7 Industria Chimica Emiliana Srl (e)(j)(k)(o) Pharmaceuticals, Biotechnology & Life Sciences E+725 0.0% 9/27/26 € 113.9 125.5 117.1 iNova Pharmaceuticals (Australia) Pty Limited (e)(k) Pharmaceuticals, Biotechnology & Life Sciences B+650 0.8% 10/30/28 A$ 34.2 22.5 22.6 Insight Global LLC (e)(h)(i)(o) Commercial & Professional Services L+600 0.8% 9/22/28 $ 63.7 62.9 61.8 KBP Investments LLC (e)(h)(i) Food & Staples Retailing SF+550, 0.0% PIK (0.5% Max PIK) 0.8% 5/26/27 23.6 23.5 21.9 Kellermeyer Bergensons Services LLC (e)(i)(j) Commercial & Professional Services L+600 1.0% 11/7/26 29.2 28.1 26.5 Lakefield Veterinary Group (e)(o) Health Care Equipment & Services L+550 0.8% 11/23/28 27.1 26.7 25.9 Lakeview Farms Inc (e)(j) Food, Beverage & Tobacco L+625 1.0% 6/10/27 15.5 15.4 15.0 Lexitas Inc (e)(h) Commercial & Professional Services SF+625 1.0% 5/18/29 18.5 18.4 18.2 Lionbridge Technologies Inc (e)(i)(j) Media & Entertainment SF+700 1.0% 12/29/25 26.8 26.3 26.9 Lloyd's Register Quality Assurance Ltd (e)(i)(o) Consumer Services E+600, 0.0% PIK (6.3% Max PIK) 0.0% 12/2/28 € 44.3 48.8 45.9 MB2 Dental Solutions LLC (e)(i) Health Care Equipment & Services SF+600 1.0% 1/29/27 $ 11.9 11.8 11.7 Med-Metrix (e)(o) Software & Services L+600 1.0% 9/15/27 11.9 11.9 12.0 Misys Ltd (k) Software & Services L+350 1.0% 6/13/24 2.3 2.2 2.0 Monitronics International Inc (h)(i)(k) Commercial & Professional Services L+600 1.5% 7/3/24 35.5 33.7 33.7 Motion Recruitment Partners LLC (e)(h)(j) Commercial & Professional Services SF+650 1.0% 12/22/25 24.8 24.5 24.6 New Era Technology Inc (e)(h)(j)(k) Software & Services L+625 1.0% 10/31/26 34.3 33.8 33.7 Novotech Pty Ltd (e)(k)(o) Health Care Equipment & Services SF+525 0.5% 1/13/28 24.4 23.9 23.6 Novotech Pty Ltd (e)(k)(o) Health Care Equipment & Services B+525 0.5% 1/13/28 A$ 33.7 24.8 22.1 One Call Care Management Inc (h) Health Care Equipment & Services L+550 0.8% 4/22/27 $ 4.9 5.0 4.1 Ontic Engineering & Manufacturing Inc (h) Capital Goods L+400 0.0% 10/30/26 2.1 1.9 2.1 Pantherx Specialty LLC (e)(j) Pharmaceuticals, Biotechnology & Life Sciences SF+550 0.5% 7/16/29 15.9 14.8 14.6 Parts Town LLC (e)(h)(k)(o) Retailing L+550 0.8% 11/1/28 49.4 48.3 47.8 Peraton Corp (j) Capital Goods L+375 0.8% 2/1/28 8.8 8.4 8.6 Plaskolite, LLC (k) Materials L+400 0.8% 12/15/25 1.1 1.1 1.0 Precision Global Corp (e)(j) Materials L+475 1.0% 8/3/24 8.9 8.7 8.8 Pretium Packaging LLC (j) Household & Personal Products L+400 0.5% 10/2/28 $ 1.6 1.6 1.3 Project Marron (e)(h)(j)(k) Consumer Services B+625 0.5% 7/2/25 A$ 81.8 56.4 52.0 Project Marron (e)(i)(j) Consumer Services C+625 0.5% 7/2/25 C$ 52.5 40.1 36.3
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Footnotes Industry Base Rate Floor Maturity Date Cost Pure Fishing Inc (i) Consumer Durables & Apparel L+450 0.0% 12/22/25 $ 9.8 $ 9.7 $ 6.6 Reliant Rehab Hospital Cincinnati LLC (e)(j)(o) Health Care Equipment & Services L+625 0.0% 2/28/26 33.6 32.7 26.7 Revere Superior Holdings Inc (e)(k) Software & Services L+575 1.0% 9/30/26 19.6 19.6 19.6 Rise Baking Company (e)(k) Food, Beverage & Tobacco L+650 1.0% 8/13/27 0.5 0.5 0.5 Rise Baking Company (e)(j)(k) Food, Beverage & Tobacco L+650 1.0% 8/13/27 30.4 29.8 29.2 Rise Baking Company (e)(f) Food, Beverage & Tobacco L+650 1.0% 8/13/27 1.4 1.4 1.4 RSC Insurance Brokerage Inc (e)(k) Insurance SF+550 0.8% 10/30/26 18.8 18.8 18.5 Safe-Guard Products International LLC (e)(i)(j)(k) Diversified Financials L+500 0.5% 1/27/27 71.7 72.1 71.7 SAMBA Safety Inc (e)(h)(j) Software & Services L+525 1.0% 9/1/27 27.1 26.9 26.8 SavATree LLC (e)(j)(k) Consumer Services L+550 0.8% 10/12/28 39.6 39.2 38.9 SI Group Inc (k) Materials SF+475 0.0% 10/15/25 1.5 1.5 1.2 SIRVA Worldwide Inc (i) Commercial & Professional Services L+550 0.0% 8/4/25 6.9 6.6 6.1 SitusAMC Holdings Corp (e)(j)(o) Real Estate L+550 0.8% 12/22/27 39.5 38.7 38.1 Sorenson Communications LLC (j) Telecommunication Services L+550 0.8% 3/17/26 20.0 19.3 19.1 Staples Canada (e)(h)(i)(j)(k) Retailing C+700 1.0% 9/12/24 C$ 74.2 57.0 55.6 Summit Interconnect Inc (e)(o) Capital Goods SF+600 1.0% 9/22/28 $ 19.5 19.3 18.4 Time Manufacturing Co (e)(h)(i) Capital Goods E+650 0.8% 12/1/27 € 29.2 32.4 29.4 Total Safety US Inc (h)(i) Capital Goods L+600 1.0% 8/18/25 $ 11.2 10.1 10.6 Transaction Services Group Ltd (e)(j)(k)(n)(o) Software & Services B+550 0.0% 10/14/26 A$ 124.1 85.3 82.6 Unifrax I LLC / Unifrax Holding Co (k) Capital Goods L+375 0.0% 12/12/25 $ 2.8 2.7 2.5 Varsity Brands Inc (k) Consumer Durables & Apparel L+350 1.0% 12/16/24 4.0 3.8 3.8 Version1 Software Ltd (e)(k) Software & Services E+575, 0.0% PIK (1.7% Max PIK) 0.0% 7/11/29 € 2.5 2.5 2.5 Version1 Software Ltd (e)(k) Software & Services SA+575, 0.0% PIK (1.7% Max PIK) 0.0% 7/11/29 £ 4.0 4.7 4.7 West Corp (i) Software & Services L+400 1.0% 10/10/24 $ 12.1 12.0 11.2 West Corp (i) Software & Services L+350 1.0% 10/10/24 2.5 2.5 2.3 Woolpert Inc (e)(h)(i)(j) Capital Goods L+600 1.0% 4/5/28 53.0 52.6 51.6 Worldwise Inc (e)(h)(i)(j)(k)(o) Household & Personal Products SF+625 1.0% 3/29/28 64.7 61.7 59.8 Yak Access LLC (e)(n) Capital Goods SF+825 2.0% 1/27/23 0.2 0.2 0.2 Yak Access LLC (g)(n)(p) Capital Goods L+500 0.0% 7/11/25 0.8 0.6 0.3 Total Senior Secured Loans—First Lien 2,522.8 2,418.2 Unfunded Loan Commitments (3.3) (3.3) Net Senior Secured Loans—First Lien 2,519.5 2,414.9 Senior Secured Loans—Second Lien—23.6% Access CIG LLC (h)(i) Commercial & Professional Services L+775 0.0% 2/27/26 2.5 2.3 2.2 Ammeraal Beltech Holding BV (e)(h)(k)(o) Capital Goods L+775 0.0% 9/12/26 42.8 42.1 41.8 Apex Group Limited (e)(h)(i)(o) Diversified Financials L+675 0.5% 7/27/29 40.0 39.7 37.6 Cubic Corp (e)(k) Software & Services L+763 0.8% 5/25/29 10.0 9.7 9.1 EaglePicher Technologies LLC (h) Capital Goods L+725 0.0% 3/8/26 0.4 0.4 0.2 Element Materials Technology Group US Holdings Inc (e)(h)(i) Commercial & Professional Services SA+725 0.5% 6/24/30 £ 21.0 23.0 24.7 Misys Ltd (h)(i)(k)(o) Software & Services L+725 1.0% 6/13/25 $ 46.6 44.6 35.1 NEP Broadcasting LLC (i) Media & Entertainment L+700 0.0% 10/19/26 6.8 6.7 5.1 OEConnection LLC (e)(h)(i)(j) Software & Services SF+700 0.5% 9/25/27 50.0 50.0 48.4 Paradigm Acquisition Corp (h)(k) Health Care Equipment & Services L+750 0.0% 10/26/26 2.5 2.5 2.4 Peraton Corp (e)(h)(i) Capital Goods L+775 0.8% 2/1/29 21.5 21.3 21.2 Pretium Packaging LLC (e)(h)(i)(j) Household & Personal Products L+675 0.5% 10/1/29 39.9 39.7 31.6
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) | ||||||||||||||||||||||||||||||||||||||||||
Pure Fishing Inc | (e)(h) | Consumer Durables & Apparel | L+838 | 1.0% | 12/21/26 | 26.5 | $ | 24.2 | $ | 14.8 | ||||||||||||||||||||||||||||||||||||||||
SIRVA Worldwide Inc | (i)(j) | Commercial & Professional Services | L+950 | 0.0% | 8/3/26 | 10.3 | 8.7 | 8.9 | ||||||||||||||||||||||||||||||||||||||||||
Valeo Foods Group Ltd | (e)(h) | Food, Beverage & Tobacco | SA+800 | 0.0% | 9/28/29 | £ | 9.3 | 11.8 | 9.9 | |||||||||||||||||||||||||||||||||||||||||
Wittur Holding GmbH | (e)(j)(k)(n) | Capital Goods | E+850, 1.0% PIK (1.0% Max PIK) | 0.0% | 9/23/27 | € | 121.1 | 132.4 | 92.0 | |||||||||||||||||||||||||||||||||||||||||
Total Senior Secured Loans—Second Lien | 459.1 | 385.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Other Senior Secured Debt—1.3% | ||||||||||||||||||||||||||||||||||||||||||||||||||
One Call Care Management Inc | (e) | Health Care Equipment & Services | 8.5% PIK (8.5% Max PIK) | 11/1/28 | $ | 25.6 | 25.0 | 20.9 | ||||||||||||||||||||||||||||||||||||||||||
Total Other Senior Secured Debt | 25.0 | 20.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt—1.3% | ||||||||||||||||||||||||||||||||||||||||||||||||||
Arrotex Australia Group Pty Ltd | (e) | Pharmaceuticals, Biotechnology & Life Sciences | B+1,150 PIK (B+1,150 Max PIK) | 1.0% | 12/22/26 | A$ | 25.0 | 16.2 | 17.0 | |||||||||||||||||||||||||||||||||||||||||
athenahealth Inc | Health Care Equipment & Services | 6.5% | 2/15/30 | $ | 5.5 | 4.8 | 4.1 | |||||||||||||||||||||||||||||||||||||||||||
Total Subordinated Debt | 21.0 | 21.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Asset Based Finance—33.2% | ||||||||||||||||||||||||||||||||||||||||||||||||||
Abacus JV, Private Equity | (e) | Insurance | 31,400,804 | 32.2 | 34.0 | |||||||||||||||||||||||||||||||||||||||||||||
Altavair AirFinance, Private Equity | (e) | Capital Goods | 36,500,000 | 43.0 | 42.2 | |||||||||||||||||||||||||||||||||||||||||||||
Connecticut Avenue Securities Trust 2022-R08, Structured Mezzanine | Real Estate | SF+560 | 0.0% | 7/25/42 | $ | 2.3 | 2.3 | 2.4 | ||||||||||||||||||||||||||||||||||||||||||
GA Capital Specialty Lending Fund, Limited Partnership Interest | (e)(n) | Diversified Financials | 1,000,000 | — | 5.3 | |||||||||||||||||||||||||||||||||||||||||||||
Global Lending Services LLC, Private Equity | (e)(n) | Diversified Financials | 2,209,115 | 2.2 | 2.4 | |||||||||||||||||||||||||||||||||||||||||||||
Global Lending Services LLC, Private Equity | (e) | Diversified Financials | 17,450,851 | 22.9 | 18.3 | |||||||||||||||||||||||||||||||||||||||||||||
Kilter Finance, Preferred Stock | (e)(k) | Insurance | 12.0% | $ | 24.0 | 24.0 | 24.0 | |||||||||||||||||||||||||||||||||||||||||||
KKR Chord IP Aggregator LP, Partnership Interest | (e) | Media & Entertainment | 19,616,330 | 22.9 | 21.1 | |||||||||||||||||||||||||||||||||||||||||||||
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) | Technology Hardware & Equipment | SF+1,050 | 1.0% | 9/30/24 | $ | 4.7 | 4.7 | 4.7 | |||||||||||||||||||||||||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (e) | Technology Hardware & Equipment | E+1,050 | 1.0% | 9/30/24 | € | 3.6 | 3.6 | 3.9 | |||||||||||||||||||||||||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (e) | Technology Hardware & Equipment | E+650 | 1.0% | 9/30/24 | € | 5.0 | 5.0 | 5.4 | |||||||||||||||||||||||||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (e) | Technology Hardware & Equipment | SA+650 | 1.0% | 9/30/24 | £ | 1.1 | 1.3 | 1.4 | |||||||||||||||||||||||||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (e) | Technology Hardware & Equipment | SF+650 | 1.0% | 9/30/24 | $ | 6.5 | 6.5 | 6.5 | |||||||||||||||||||||||||||||||||||||||||
Lenovo Group Ltd, Structured Mezzanine | (e) | Technology Hardware & Equipment | SA+1,050 | 1.0% | 9/30/24 | £ | 0.8 | 0.9 | 1.0 | |||||||||||||||||||||||||||||||||||||||||
Luxembourg Life Fund - Absolute Return Fund I, 1L Term Loan | (e)(h)(n) | Insurance | L+750 | 1.5% | 2/27/25 | $ | 21.3 | 21.3 | 21.3 | |||||||||||||||||||||||||||||||||||||||||
Luxembourg Life Fund - Absolute Return Fund III, Term Loan | (e)(h)(k)(n) | Insurance | L+925 | 0.0% | 5/27/26 | $ | 56.2 | 55.8 | 57.0 | |||||||||||||||||||||||||||||||||||||||||
Luxembourg Life Fund - Long Term Growth Fund, Term Loan | (e)(h)(i)(k)(n) | Insurance | SF+925 | 0.0% | 4/1/23 | $ | 67.4 | 67.4 | 68.4 | |||||||||||||||||||||||||||||||||||||||||
My Community Homes PropCo 2, Private Equity | (e)(p) | Real Estate | 17.8% | 34,708,333 | 34.7 | 32.5 | ||||||||||||||||||||||||||||||||||||||||||||
NewStar Clarendon 2014-1A Class D | (e)(k)(n) | Diversified Financials | 2.8%, 5.3% PIK (5.3% Max PIK) | 1/25/27 | $ | 30.0 | 9.3 | 12.7 |
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) | ||||||||||||||||||
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 |
Footnotes Industry Base Rate Floor Maturity Date Cost Pretium Partners LLC P1, Structured Mezzanine (e)(h)(i) Real Estate 10/22/26 $ 29.6 $ 28.6 $ 28.3 Pretium Partners LLC P2, Private Equity (e) Real Estate 16,772,368 16.2 13.7 Roemanu LLC (FKA Toorak Capital Partners LLC), Private Equity (e) Real Estate 40,000,000 50.2 47.3 Saluda Grade Alternative Mortgage Trust 2022-BC2, Term Loan (e)(k) Real Estate 7.3% 7/25/30 $ 24.0 23.7 23.7 Sealane Trade Finance (e)(m)(p) Banks 1,104,510 1.1 0.2 SG Residential Mortgage Trust 2022-2, Structured Mezzanine Real Estate 5.4% 9/25/67 $ 4.6 3.8 3.7 Star Mountain Strategic Credit Income Fund IV LP, Private Equity (e) Diversified Financials 42,500,000 42.5 44.0 Total Asset Based Finance 550.5 542.0 Equity/Other—11.0% 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 40.5 athenahealth Inc, Preferred Stock (e) Health Care Equipment & Services 10.8% PIK (10.8% Max PIK) 50,000,000 47.5 43.2 Belk Inc, Common Stock (e)(p) Retailing 381 — — Misys Ltd, Preferred Stock (e) Software & Services L+1,025 PIK (L+1,0255 Max PIK) 0.0% 25,265,621 24.8 21.1 One Call Care Management Inc, Common Stock (e)(p) Health Care Equipment & Services 34,873 2.2 1.9 One Call Care Management Inc, Preferred Stock A (e)(p) Health Care Equipment & Services 371,993 23.7 20.6 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 8.7 7.7 Pure Gym Ltd, Private Equity (e)(p) Consumer Services 30,218,000 39.4 39.2 Total Equity/Other 180.4 179.0 TOTAL INVESTMENTS—218.5% $ 3,755.5 $ 3,562.9 Derivative Instruments—0.7% Foreign currency forward contracts $ 11.9
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)
(Secured Overnight Financing Rate, or SOFR, was 4.59%, and the U.S. Prime Lending Rate, or Prime, was 7.50%. PIK means paid-in-kind. PIK income accruals may be adjusted based on the fair value of the underlying investment.
Note 6.may not indicate the actual rate received upon funding.
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(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) | ||||||||||||||||||
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 | ||||||||||||||||||||||||
|
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| |||||||||||||||||||||||
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(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) | ||||||||||||||||||
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 | ||||||||||||||
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| |||||||||||||||||||||||
Total Senior Secured Loans—Second Lien | 491.3 | 502.4 | ||||||||||||||||||||||||
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| |||||||||||||||||||||||
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 | ||||||||||||||||||
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Total Other Senior Secured Debt | 22.9 | 23.5 | ||||||||||||||||||||||||
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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 | |||||||||||||||||||||||||
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| |||||||||||||||||||||||||||
Total Asset Based Finance | 473.6 | 494.5 | ||||||||||||||||||||||||||||
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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 | |||||||||||||||||||||||
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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)% | ||||||||||||||||||||||||||||||
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| |||||||||||||||||||||||||||||
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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(p)Security is non-income producing.
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, 2022 Selected Balance Sheet Information Total investments, at fair value $ 3,556.3 $ 3,562.9 Cash and other assets 256.2 259.2 Total assets 3,812.5 3,822.1 Debt 1,936.0 1,913.4 Other liabilities 280.4 276.4 Total liabilities 2,216.4 2,189.8 Member's equity $ 1,596.1 $ 1,632.3
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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2022:
Three Months Ended March 31, | ||||||||||||||||||||||||||
2023 | 2022 | |||||||||||||||||||||||||
Selected Statement of Operations Information | ||||||||||||||||||||||||||
Total investment income | $ | 93.1 | $ | 60.9 | ||||||||||||||||||||||
Expenses | ||||||||||||||||||||||||||
Interest expense | 29.4 | 13.6 | ||||||||||||||||||||||||
Custodian and accounting fees | 0.4 | 0.4 | ||||||||||||||||||||||||
Administrative services | 2.4 | 2.4 | ||||||||||||||||||||||||
Professional services | 0.1 | 0.2 | ||||||||||||||||||||||||
Other | 0.2 | 0.1 | ||||||||||||||||||||||||
Total expenses | 32.5 | 16.7 | ||||||||||||||||||||||||
Net investment income | 60.6 | 44.2 | ||||||||||||||||||||||||
Net realized and unrealized gain (loss) | (33.8) | 1.2 | ||||||||||||||||||||||||
Net increase in net assets resulting from operations | $ | 26.8 | $ | 45.4 |
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 March 31, 2023 (Unaudited) December 31, 2022 Foreign currency forward contracts Unrealized appreciation on foreign currency forward contracts $ 21 $ 25 Foreign currency forward contracts Unrealized depreciation on foreign currency forward contracts (1) (1) Total $ 20 $ 24
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) Three Months Ended March 31, Derivative Instrument Statement Location 2023 2022 Foreign currency forward contracts Net realized gain (loss) on foreign currency forward contracts $ 3 $ 5 Total $ 3 $ 5
Net Unrealized Gains (Losses) | ||||||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||||||
Derivative Instrument | Statement Location | 2023 | 2022 | |||||||||||||||||
Foreign currency forward contracts | Net change in unrealized appreciation (depreciation) on foreign currency forward contracts | $ | (4) | $ | 1 | |||||||||||||||
Total | $ | (4) | $ | 1 |
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 March 31, 2023 (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 | $ | 21 | $ | (1) | $ | — | $ | — | $ | 20 | ||||||||||||||||||||||
Total | $ | 21 | $ | (1) | $ | — | $ | — | $ | 20 | ||||||||||||||||||||||
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 | $ | — | $ | — | $ | — |
As of December 31, 2022 | ||||||||||||||||||||||||||||||||
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 | $ | 25 | $ | (1) | $ | — | $ | — | $ | 24 | ||||||||||||||||||||||
Total | $ | 25 | $ | (1) | $ | — | $ | — | $ | 24 | ||||||||||||||||||||||
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 | $ | — | $ | — | $ | — |
per share amounts)
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, 20222023 and December 31, 2021,2022, 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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____________March 31, 2023 Valuation Inputs (Unaudited) December 31, 2022 Level 1—Price quotations in active markets $ 1 $ — Level 2—Significant other observable inputs 554 564 Level 3—Significant unobservable inputs 13,325 13,385 1,397 1,428 $ 15,277 $ 15,377
2022.
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 three months ended March 31, 20222023 and 20212022 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 Three Months Ended March 31, 2023 Other Senior
Secured
DebtSubordinated
DebtAsset Based Finance Equity/Other Total Fair value at beginning of period $ 9,124 $ 874 $ 22 $ 264 $ 1,902 $ 1,199 $ 13,385 Accretion of discount (amortization of premium) 11 1 — — — — 12 Net realized gain (loss) 2 (20) — — 7 (48) (59) Net change in unrealized appreciation (depreciation) 17 2 (2) — (17) 71 71 Purchases 235 3 — 10 30 9 287 Paid-in-kind interest 15 — — 5 3 7 30 Sales and repayments (234) (4) — — (147) (16) (401) Transfers into Level 3 — — — — — — — Transfers out of Level 3 — — — — — — — Fair value at end of period $ 9,170 $ 856 $ 20 $ 279 $ 1,778 $ 1,222 $ 13,325 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 $ 17 $ (20) $ (2) $ — $ (17) $ 21 $ (1)
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 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Fair value at end of period | $ | 9,665 | $ | 1,073 | $ | 27 | $ | 34 | $ | 2,178 | $ | 1,313 | $ | 14,290 | ||||||||||||||||||||||||||||||||||||
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) | ||||||||||||||||||||||||||||||||||||
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 | ||||||||
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Total | $ | 14,290 | ||||||||||||
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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 | |||||||||||||
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Total | $ | 13,972 | ||||||||||||
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Type of | Fair Value at March 31, 2023 (Unaudited) | Valuation Technique(1) | Unobservable Input | Range (Weighted Average) | Impact to |
| ||||||||||||||||||||||||||||||||
Senior Debt | $ | 9,365 | Discounted Cash Flow | Discount Rate | 5.1% - 21.2% (12.0%) | Decrease | ||||||||||||||||||||||||||
654 | Waterfall | EBITDA Multiple | 0.3x - 19.8x (7.2x) | Increase | ||||||||||||||||||||||||||||
23 | Cost | |||||||||||||||||||||||||||||||
4 | Other(3) | |||||||||||||||||||||||||||||||
Subordinated Debt | 248 | Discounted Cash Flow | Discount Rate | 10.9% - 14.9% (13.2%) | Decrease | |||||||||||||||||||||||||||
31 | Waterfall | EBITDA Multiple | 7.4x - 7.4x (7.4x) | Increase | ||||||||||||||||||||||||||||
Asset Based Finance | 978 | Discounted Cash Flow | Discount Rate | 5.2% - 44.2% (11.8%) | Decrease | |||||||||||||||||||||||||||
555 | Waterfall | EBITDA Multiple | 1.0x - 13.7x (1.3x) | Increase | ||||||||||||||||||||||||||||
141 | Other(3) | |||||||||||||||||||||||||||||||
100 | Cost | |||||||||||||||||||||||||||||||
4 | Indicative Dealer Quotes | 44.0% - 44.0% (44.0%) | Increase | |||||||||||||||||||||||||||||
Equity/Other | 730 | Waterfall | EBITDA Multiple | 0.1x - 16.2x (7.2x) | Increase | |||||||||||||||||||||||||||
485 | Discounted Cash Flow | Discount Rate | 10.0% - 25.0% (16.0%) | Decrease | ||||||||||||||||||||||||||||
5 | Other(3) | |||||||||||||||||||||||||||||||
2 | Option Pricing Model | Equity Illiquidity Discount | 65.0% - 65.0% (65.0%) | Decrease | ||||||||||||||||||||||||||||
Total | $ | 13,325 |
Type of Investment | Fair Value at December 31, 2022 | Valuation Technique(1) | Unobservable Input | Range | Impact to | |||||||||||||||||||||||||||
Senior Debt | $ | 9,274 | Discounted Cash Flow | Discount Rate | 6.0% - 24.2% (12.0%) | Decrease | ||||||||||||||||||||||||||
575 | Waterfall | EBITDA Multiple | 0.3x - 19.8x (7.2x) | Increase | ||||||||||||||||||||||||||||
167 | Cost | |||||||||||||||||||||||||||||||
4 | Other(3) | |||||||||||||||||||||||||||||||
Subordinated Debt | 242 | Discounted Cash Flow | Discount Rate | 10.9% - 14.9% (13.3%) | Decrease | |||||||||||||||||||||||||||
22 | Waterfall | EBITDA Multiple | 7.5x - 7.5x (7.5x) | Increase | ||||||||||||||||||||||||||||
Asset Based Finance | 980 | Discounted Cash Flow | Discount Rate | 5.1% - 44.0% (11.3%) | Decrease | |||||||||||||||||||||||||||
636 | Waterfall | EBITDA Multiple | 1.0x - 13.7x (1.6x) | Increase | ||||||||||||||||||||||||||||
144 | Cost | |||||||||||||||||||||||||||||||
138 | Other(3) | |||||||||||||||||||||||||||||||
4 | Indicative Dealer Quotes | 42.0% - 42.0% (42.0%) | Increase | |||||||||||||||||||||||||||||
Equity/Other | 683 | Waterfall | EBITDA Multiple | 0.0x - 15.0x (7.4x) | Increase | |||||||||||||||||||||||||||
488 | Discounted Cash Flow | Discount Rate | 10.0% - 25.0% (15.6%) | Decrease | ||||||||||||||||||||||||||||
13 | Cost | |||||||||||||||||||||||||||||||
12 | Other(3) | |||||||||||||||||||||||||||||||
3 | Option Pricing Model | Equity Illiquidity Discount | 65.0% - 65.0% (65.0%) | Decrease | ||||||||||||||||||||||||||||
Total | $ | 13,385 |
|
(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 | |||||||||
|
|
|
| |||||||||||
Total | $ | 9,879 | $ | 1,409 |
|
|
|
|
|
|
Arrangement Type of Arrangement Rate Amount
OutstandingAmount
AvailableMaturity Date Revolving Credit Facility $ 150 $ 50 November 22, 2025 Prime Brokerage Facility — — September 26, 2023 Revolving Credit Facility 285 15 June 2, 2026 Revolving Credit Facility 240 10 February 26, 2025 Revolving Credit Facility 467 33 February 26, 2025 Revolving Credit Facility 300 — 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 $ 8,713 $ 2,577
|
|
|
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 |
|
|
|
|
|
|
|
|
|
As of December 31, 2022 | ||||||||||||||||||||||||||||||||
Arrangement | Type of Arrangement | Rate | Amount Outstanding | Amount Available | Maturity Date | |||||||||||||||||||||||||||
Ambler Credit Facility(2)(9) | Revolving Credit Facility | SOFR+2.15%(1) | $ | 131 | $ | 69 | November 22, 2025 | |||||||||||||||||||||||||
Burholme Prime Brokerage Facility(2)(9) | Prime Brokerage Facility | L+1.25%(1) | — | — | June 28, 2023 | |||||||||||||||||||||||||||
CCT Tokyo Funding Credit Facility(2) | Revolving Credit Facility | SOFR+1.90% - 2.05%(1)(3) | 285 | 15 | June 2, 2026 | |||||||||||||||||||||||||||
Darby Creek Credit Facility(2)(9) | Revolving Credit Facility | L+1.85%(1) | 242 | 8 | February 26, 2025 | |||||||||||||||||||||||||||
Dunlap Credit Facility(2)(9) | Revolving Credit Facility | L+1.85%(1) | 472 | 28 | February 26, 2025 | |||||||||||||||||||||||||||
Meadowbrook Run Credit Facility(2)(9) | Revolving Credit Facility | SOFR+2.55%(1) | 244 | 56 | November 22, 2024 | |||||||||||||||||||||||||||
Senior Secured Revolving Credit Facility(2) | Revolving Credit Facility | SOFR+1.75% - 1.88%(1)(4) | 2,260(5) | 2,383(6) | May 17, 2027 | |||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||
Total | $ | 8,731 | $ | 2,559 |
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 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total | $ | 74 | $ | 3 | $ | 77 | $ | 39 | $ | 3 | $ | 42 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, | ||||||||||||||||||||||||||||||||||||||
2023 | 2022 | |||||||||||||||||||||||||||||||||||||
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) | $ | 2 | $ | 1 | $ | 3 | $ | 1 | $ | 0 | $ | 1 | ||||||||||||||||||||||||||
Burholme Prime Brokerage Facility(2) | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||
CCT Tokyo Funding Credit Facility(2) | 5 | 0 | 5 | 2 | 0 | 2 | ||||||||||||||||||||||||||||||||
Darby Creek Credit Facility(2) | 4 | 0 | 4 | 1 | 0 | 1 | ||||||||||||||||||||||||||||||||
Dunlap Credit Facility(2) | 8 | 0 | 8 | 3 | 0 | 3 | ||||||||||||||||||||||||||||||||
Meadowbrook Run Credit Facility(2) | 4 | 0 | 4 | 2 | 0 | 2 | ||||||||||||||||||||||||||||||||
Senior Secured Revolving Credit Facility(2) | 38 | 1 | 39 | 16 | 1 | 17 | ||||||||||||||||||||||||||||||||
4.750% Notes due 2022 | — | — | — | 6 | 0 | 6 | ||||||||||||||||||||||||||||||||
4.625% Notes due 2024 | 5 | 0 | 5 | 4 | 0 | 4 | ||||||||||||||||||||||||||||||||
1.650% Notes due 2024 | 2 | 1 | 3 | 2 | 1 | 3 | ||||||||||||||||||||||||||||||||
4.125% Notes due 2025 | 5 | 1 | 6 | 5 | 0 | 5 | ||||||||||||||||||||||||||||||||
4.250% Notes due 2025 | 5 | (2) | 3 | 5 | (1) | 4 | ||||||||||||||||||||||||||||||||
8.625% Notes due 2025 | 5 | 0 | 5 | 5 | 1 | 6 | ||||||||||||||||||||||||||||||||
3.400% Notes due 2026 | 9 | 2 | 11 | 9 | 1 | 10 | ||||||||||||||||||||||||||||||||
2.625% Notes due 2027 | 2 | 0 | 2 | 2 | 0 | 2 | ||||||||||||||||||||||||||||||||
3.250% Notes due 2027 | 4 | 0 | 4 | 3 | 0 | 3 | ||||||||||||||||||||||||||||||||
3.125% Notes due 2028 | 6 | 0 | 6 | 6 | 0 | 6 | ||||||||||||||||||||||||||||||||
CLO-1 Notes | 6 | 0 | 6 | 2 | 0 | 2 | ||||||||||||||||||||||||||||||||
Total | $ | 110 | $ | 4 | $ | 114 | $ | 74 | $ | 3 | $ | 77 |
The Company’s average borrowings and weighted average interest rate, including the effect of non-usage fees, for the three months ended March 31, 2021 were $4,041 and 3.88%, respectively. As of March 31, 2021, the Company’s weighted average effective interest rate on borrowings, including the effect of non-usage fees, was 4.17%.
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, 20222023 and December 31, 2021.
3.250% Notes due 2027
2022.
The 3.250% Notes will mature on July 15, 2027 and may be redeemed in whole or in part at the Company’s option at any time orlenders from time to time atparty thereto, the redemption prices set forthother agents parties thereto, and Wells Fargo Bank, National Association, as collateral agent and collateral custodian.
The Indenture contains certain covenants, including covenants requiring the Company to comply with the asset coverage requirements of Section 18(a)(1)(A) as modified by Section 61(a)(1) and (2) of the Investment Company Act of 1940, as amended, whether or not it is subject to those requirements, and to provide financial information to the holders of the 3.250% Notes and the Trustee if the Company is no longer subject to the reporting requirements under the Securities Exchange Act of 1934, as amended. These covenants are subject to important limitations and exceptions that are described in the Indenture.
In addition, on the occurrence of a “change of control repurchase event,” as defined in the Indenture, the Company will generally be required to make an offer to purchase the outstanding 3.250% Notes at a price equal to 100% of the principal amount of such 3.250% Notes plus accrued and unpaid interest to the repurchase date.
per share amounts)
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 | $ | 8.6 | |||||||||
3Pillar Global Inc | 24.0 | ||||||||||
48Forty Solutions LLC | 9.6 | ||||||||||
Advanced Dermatology & Cosmetic Surgery | 3.6 | ||||||||||
Advanced Dermatology & Cosmetic Surgery | 2.2 | ||||||||||
Affordable Care Inc | 12.8 | ||||||||||
Affordable Care Inc | 25.7 | ||||||||||
Alacrity Solutions Group LLC | 5.9 | ||||||||||
American Vision Partners | 4.7 | ||||||||||
Amerivet Partners Management Inc | 8.4 | ||||||||||
Amerivet Partners Management Inc | 48.8 | ||||||||||
Arcfield Acquisition Corp | 7.1 | ||||||||||
Arcos LLC/VA | 4.5 | ||||||||||
Ardonagh Group Ltd | 9.9 | ||||||||||
AxiomSL Ltd | 2.5 | ||||||||||
AxiomSL Ltd | 2.3 | ||||||||||
Barbri Inc | 9.1 | ||||||||||
BGB Group LLC | 19.9 | ||||||||||
Careismatic Brands Inc | 15.0 | ||||||||||
CFC Underwriting Ltd | 5.7 | ||||||||||
Circana Group (f.k.a. NPD Group) | 0.9 | ||||||||||
Clarience Technologies LLC | 25.3 | ||||||||||
Community Brands Inc | 3.8 | ||||||||||
Community Brands Inc | 1.9 | ||||||||||
Corsearch Intermediate Inc | 4.4 | ||||||||||
CSafe Global | 34.9 | ||||||||||
DOC Generici Srl | 2.3 | ||||||||||
Envirotainer Ltd | 2.7 | ||||||||||
Excelitas Technologies Corp | 1.4 | ||||||||||
Excelitas Technologies Corp | 3.1 | ||||||||||
Follett Software Co | 9.9 | ||||||||||
Foundation Consumer Brands LLC | 6.6 | ||||||||||
Foundation Risk Partners Corp | 6.9 | ||||||||||
Galway Partners Holdings LLC | 9.4 | ||||||||||
Galway Partners Holdings LLC | 1.3 | ||||||||||
Gigamon Inc | 9.3 |
| Commitment Amount | ||||||||||
| |||||||||||
| |||||||||||
| |||||||||||
| |||||||||||
Heniff Transportation Systems LLC | $ | ||||||||||
Higginbotham Insurance Agency Inc | 3.7 | ||||||||||
HKA | 0.2 | ||||||||||
HM Dunn Co Inc | 2.0 | ||||||||||
Individual FoodService | 4.7 | ||||||||||
Individual FoodService | 1.1 | ||||||||||
iNova Pharmaceuticals (Australia) Pty Limited | 2.2 | ||||||||||
Insight Global LLC | 21.1 | ||||||||||
Insight Global LLC | 26.8 | ||||||||||
| |||||||||||
J S Held LLC | 1.3 | ||||||||||
J S Held LLC | 17.4 | ||||||||||
Karman Space Inc | 0.8 | ||||||||||
Laboratoires Vivacy SAS | 0.7 | ||||||||||
Lakefield Veterinary Group | 34.3 | ||||||||||
Lakeview Farms Inc | 10.8 | ||||||||||
Lakeview Farms Inc | 2.8 | ||||||||||
Lexitas Inc | 7.6 | ||||||||||
| 26.0 | ||||||||||
| 12.6 | ||||||||||
| 2.2 | ||||||||||
| 0.6 | ||||||||||
Med-Metrix | 25.0 | ||||||||||
Med-Metrix | 7.8 | ||||||||||
Monitronics International Inc | 15.7 | ||||||||||
Motion Recruitment Partners LLC | 59.6 | ||||||||||
| 1.0 | ||||||||||
Net Documents | 2.7 | ||||||||||
New Era Technology Inc | 1.2 | ||||||||||
| |||||||||||
Novotech Pty Ltd | 5.6 | ||||||||||
Oxford Global Resources LLC | 4.6 | ||||||||||
Oxford Global Resources LLC | 8.0 | ||||||||||
| 3.3 | ||||||||||
| 22.7 | ||||||||||
| 6.0 | ||||||||||
| |||||||||||
| |||||||||||
| |||||||||||
Revere Superior Holdings Inc | 3.2 | ||||||||||
| |||||||||||
Rise Baking Company | 4.6 | ||||||||||
RSC Insurance Brokerage Inc | 3.0 | ||||||||||
| 1.8 | ||||||||||
SavATree LLC | 3.4 | ||||||||||
SavATree LLC | 6.3 | ||||||||||
Source Code LLC | 15.0 | ||||||||||
Spins LLC | 7.9 | ||||||||||
Spins LLC | 16.5 | ||||||||||
Spotless Brands LLC | 18.4 | ||||||||||
Summit Interconnect Inc | 9.4 | ||||||||||
Sweeping Corp of America Inc | 2.6 | ||||||||||
Time Manufacturing Co | 16.7 | ||||||||||
Version1 Software Ltd | 1.1 | ||||||||||
VetCor Professional Practices LLC | 3.8 | ||||||||||
VetCor Professional Practices LLC | 6.6 |
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 | ||||||||||
Wealth Enhancement Group LLC | $ | 2.4 | |||||||||
Wealth Enhancement Group LLC | 2.1 | ||||||||||
Woolpert Inc | 3.7 | ||||||||||
Worldwise Inc | 15.5 | ||||||||||
Worldwise Inc | 6.8 | ||||||||||
Zendesk Inc | 6.0 | ||||||||||
Zendesk Inc | 14.4 | ||||||||||
Senior Secured Loans—Second Lien | |||||||||||
Valeo Foods Group Ltd | 3.1 | ||||||||||
Subordinated Debt | |||||||||||
Covis Finco Sarl | 20.0 | ||||||||||
Asset Based Finance | |||||||||||
Callodine Commercial Finance LLC, 2L Term Loan B | 36.1 | ||||||||||
Jet Edge International LLC, Term Loan | 0.7 | ||||||||||
Total | $ | 941.9 | |||||||||
Unfunded Asset Based Finance/Other commitments | $ | 497.3 |
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, 2022,2023, 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.
2022.
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 | ||||||
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Net increase (decrease) in net assets resulting from operations | 0.78 | 7.04 | ||||||
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Stockholder distributions(3) | ||||||||
Distributions from net investment income | (0.63 | ) | (2.47 | ) | ||||
Distributions from net realized gain on investments | — | — | ||||||
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Net decrease in net assets resulting from stockholder distributions | (0.63 | ) | (2.47 | ) | ||||
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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 | ) | |||||
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Net increase (decrease) in net assets resulting from capital share transactions | 0.01 | (2.42 | ) | |||||
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Net asset value, end of period | $ | 27.33 | $ | 27.17 | ||||
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Per share market value, end of period | $ | 22.82 | $ | 20.94 | ||||
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Shares outstanding, end of period | 284,138,163 | 284,543,091 | ||||||
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Total return based on net asset value(7) | 2.91 | % | 18.47 | % | ||||
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Total return based on market value(8) | 11.97 | % | 41.45 | % | ||||
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Three Months Ended March 31, 2023 Year Ended December 31, 2022 (Unaudited) Net asset value, beginning of period $ 24.89 $ 27.17 Net investment income (loss) 0.81 3.05 Net realized gain (loss) and unrealized appreciation (depreciation) (0.11) (2.74) Net increase (decrease) in net assets resulting from operations 0.70 0.31 Distributions from net investment income (0.70) (2.66) Distributions from net realized gain on investments — — Net decrease in net assets resulting from stockholder distributions (0.70) (2.66) Capital share transactions 0.04 0.07 Net increase (decrease) in net assets resulting from capital share transactions 0.04 0.07 Net asset value, end of period $ 24.93 $ 24.89 Per share market value, end of period $ 18.50 $ 17.50 Shares outstanding, end of period 280,066,433 281,731,750 2.97 % 1.40 % 9.72 % (4.61) % Ratio/Supplemental Data: Net assets, end of period $ 6,983 $ 7,012 12.94 % 11.42 % 12.83 % 10.96 % 12.83 % 10.17 % 1.76 % 28.61 % Total amount of senior securities outstanding, exclusive of treasury securities $ 8,713 $ 8,731 1.80 1.80
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 |
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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 per share 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. (7)Weighted average net assets during the applicable period are used for this calculation. Ratios for the three months ended March 31, 2023 are annualized. Annualized ratios for the three months ended March 31, 2023 are not necessarily indicative of the ratios that may be expected for the year ending December 31, 2023. The following is a schedule of supplemental ratios for the three months ended March 31, 2023 and year ended December 31, 2022:
(8)Portfolio turnover for the three months ended March 31, 2023 is not annualized. (9)Asset coverage per unit is the ratio of the carrying value of the Company’s total consolidated assets, less liabilities and indebtedness not represented by senior securities, to the aggregate amount of senior securities representing indebtedness. Note 12. Subsequent Events Darby Creek Credit Facility and Dunlap Funding Credit Facility Merger On April 27, 2023, Darby Creek LLC (“Darby Creek”), a wholly-owned subsidiary of |
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FS KKR Capital Corp.
Notes (the “Company”), entered into the Twelfth Amendment to Unaudited Consolidatedthe Loan Financing and Servicing Agreement and Omnibus Amendment to the Transaction Documents (the “Twelfth Amendment”), which amends the Loan Financing and Servicing Agreement, dated February 20, 2014, by and among Darby Creek, as borrower, Deutsche Bank AG, New York Branch, as facility agent, each of the lenders from time to time party thereto, the other agents parties thereto, and Wells Fargo Bank, National Association as collateral agent and collateral custodian.
Condition and Results of Operations.
Note 11. Financial Highlights (continued)
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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 | % |
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Note 12. Acquisition of FSKR
On June 16, 2021, the Company completed its acquisition of FSKR, pursuant the 2020 Merger Agreement. 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, or together with the First Merger, the 2021 Merger.
In accordance with the terms of the 2020 Merger Agreement, each outstanding share of FSKR common stock was converted into the right to receive 0.9498 shares of the Company’s common stock. This exchange ratio was determined based on the closing net asset value, or NAV, per share of $26.77 and $25.42 for the Company and FSKR, respectively, as of June 14, 2021, to ensure that the NAV of shares investors would receive in FSK was equal to the NAV of the shares they held in FSKR. As a result, the Company issued an aggregate of approximately 161,374,028 shares of its common stock to former FSKR stockholders.
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.
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 | ||
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Total purchase price | $ | 3,650 | ||
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Assets acquired, at fair value: | ||||
Investments | $ | 7,227 | ||
Cash and cash equivalents | 293 | |||
Other assets | 221 | |||
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Total assets acquired | $ | 7,741 | ||
Debt | 3,794 | |||
Distributions payable | 93 | |||
Other liabilities assumed | 204 | |||
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Total purchase price | $ | 3,650 | ||
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The company incurred $8 of professional fees and other costs associated with the 2021 Merger. Such costs were capitalized by the Company and included in the purchase price of the 2021 Merger. Deferred costs and prepaid assets of $19 were permanently written off. Additionally, the Company marked-to-market the fair value of FSKR’s 4.25% Notes, which was $26 greater than it’s carrying amount.
Note 13. Subsequent Events
4.750% Notes due 2022
On March 15, 2022 the Company issued a notice of redemption providing for the redemption of its 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.
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The information contained in this section should be read in conjunction with our unaudited consolidated financial statements and related notes thereto appearing elsewhere in this quarterly report on Form 10-Q. In this report, “we,” “us,” “our” and the “Company” refer to FS KKR Capital Corp. and the “Advisor”"Advisor" refers to FS/KKR Advisor, LLC.
•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.
Acquisition of FSKR
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. In accordance with the terms of the 2020 Merger Agreement, (i) each outstanding share of FSKR common stock was converted into the right to receive 0.9498 shares of the Company’s common stock. This exchange ratio was determined based on the closing net asset value, or NAV, per share of $26.77 and $25.42 for the Company and FSKR, respectively, as of June 14, 2021, to ensure that the NAV of shares investors will own in FSK is equal to the NAV of the shares they held in FSKR. As a result, the Company issued an aggregate of approximately 161,374,028 shares of its common stock to former FSKR stockholders. Following the consummation of the 2021 Merger, we entered into the investment advisory agreement, which replaced the prior investment advisory agreement.
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.
2022
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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For the Three Months Ended For the Year Ended Net Investment Activity March 31, 2023 December 31, 2022 Purchases $ 270 $ 4,642 Sales and Repayments (386) (4,741) Net Portfolio Activity $ (116) $ (99)
For the Three Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||
New Investment Activity by Asset Class | Purchases | Percentage | Sales and Repayments | Percentage | ||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—First Lien | $ | 223 | 82 | % | $ | (222) | 58 | % | ||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—Second Lien | — | — | (5) | 1 | % | |||||||||||||||||||||||||||||||||||||||||||||
Other Senior Secured Debt | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt | 8 | 3 | % | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Asset Based Finance | 29 | 11 | % | (147) | 38 | % | ||||||||||||||||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Equity/Other(1) | 10 | 4 | % | (12) | 3 | % | ||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 270 | 100 | % | $ | (386) | 100 | % | ||||||||||||||||||||||||||||||||||||||||||
(1) Equity/Other includes investments in preferred equity investments. During the three months ended March 31, 2023, purchases of preferred equity investments were $0 and sales and repayments of preferred equity investments were $0. |
The following table summarizes the composition of our investment portfolio at cost and fair value as of March 31, 2023 and December 31, 2022: | ||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(Unaudited) | December 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||
Amortized Cost(1) | Fair Value | Percentage of Portfolio | Amortized Cost(1) | Fair Value | Percentage of Portfolio | |||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—First Lien | $ | 9,635 | $ | 9,320 | 61.0 | % | $ | 9,607 | $ | 9,278 | 60.3 | % | ||||||||||||||||||||||||||||||||||||||
Senior Secured Loans—Second Lien | 1,280 | 1,172 | 7.7 | % | 1,299 | 1,194 | 7.8 | % | ||||||||||||||||||||||||||||||||||||||||||
Other Senior Secured Debt | 152 | 107 | 0.7 | % | 152 | 110 | 0.7 | % | ||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt | 399 | 280 | 1.8 | % | 384 | 265 | 1.7 | % | ||||||||||||||||||||||||||||||||||||||||||
Asset Based Finance | 1,916 | 1,779 | 11.7 | % | 2,024 | 1,903 | 12.4 | % | ||||||||||||||||||||||||||||||||||||||||||
Credit Opportunities Partners JV, LLC | 1,572 | 1,397 | 9.1 | % | 1,572 | 1,428 | 9.3 | % | ||||||||||||||||||||||||||||||||||||||||||
Equity/Other(2) | 1,229 | 1,222 | 8.0 | % | 1,276 | 1,199 | 7.8 | % | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | 16,183 | $ | 15,277 | 100.0 | % | $ | 16,314 | $ | 15,377 | 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 March 31, 2023, Equity/Other included $877 of preferred equity investments. |
The following table presents certain selected information regarding the composition of our investment portfolio as of March 31, 2023 and December 31, 2022: | |||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2023 | December 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||
Number of Portfolio Companies | 189 | 197 | |||||||||||||||||||||||||||||||||||||||||||||
% Variable Rate Debt Investments (based on fair value)(1)(2) | 69.7% | 69.6% | |||||||||||||||||||||||||||||||||||||||||||||
% Fixed Rate Debt Investments (based on fair value)(1)(2) | 8.3% | 8.6% | |||||||||||||||||||||||||||||||||||||||||||||
% Other Income Producing Investments (based on fair value)(3) | 14.7% | 15.0% | |||||||||||||||||||||||||||||||||||||||||||||
% Non-Income Producing Investments (based on fair value)(2) | 4.6% | 4.4% | |||||||||||||||||||||||||||||||||||||||||||||
% of Investments on Non-Accrual (based on fair value) | 2.7% | 2.4% | |||||||||||||||||||||||||||||||||||||||||||||
Weighted Average Annual Yield on Accruing Debt Investments(2)(4) | 12.3% | 12.0% | |||||||||||||||||||||||||||||||||||||||||||||
Weighted Average Annual Yield on All Debt Investments(5) | 11.4% | 11.2% |
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, 20222023.
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 three months ended March 31, 2023, our total return based on net asset value was 2.97% and our total return based on market value was 9.72%. For the year ended December 31, 2022, our total return based on net asset value was 2.91%1.40% and our total return based on market value was 11.97%. 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%(4.61)%. See footnotes 75 and 86 to the table included in Note 11 to our unaudited consolidated financial statements included herein for information regarding the calculation of our total return based on net asset value and total return based on market value, respectively.
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 | % |
|
|
Characteristics of All Direct Originations held in Portfolio March 31, 2023 December 31, 2022 Number of Portfolio Companies 178 183 % of Investments on Non-Accrual (based on fair value) 2.7% 2.4% Total Cost of Direct Originations $15,493.3 $15,654.2 Total Fair Value of Direct Originations $14,718.0 $14,885.5 % of Total Investments, at Fair Value 96.3% 96.8% 12.3% 12.0% 11.4% 11.2%
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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2022:
March 31, 2023 | ||||||||||||||||||||||||||
(Unaudited) | December 31, 2022 | |||||||||||||||||||||||||
Industry Classification(1) | Fair Value | Percentage of Portfolio | Fair Value | Percentage of Portfolio | ||||||||||||||||||||||
Automobiles & Components | $ | 8 | 0.1 | % | $ | 25 | 0.2 | % | ||||||||||||||||||
Capital Goods | 2,357 | 15.4 | % | 2,366 | 15.4 | % | ||||||||||||||||||||
Commercial & Professional Services | 1,776 | 11.6 | % | 1,670 | 10.9 | % | ||||||||||||||||||||
Consumer Discretionary Distribution & Retail | 282 | 1.8 | % | 282 | 1.8 | % | ||||||||||||||||||||
Consumer Durables & Apparel | 239 | 1.6 | % | 235 | 1.5 | % | ||||||||||||||||||||
Consumer Services | 200 | 1.3 | % | 189 | 1.2 | % | ||||||||||||||||||||
Consumer Staples Distribution & Retail | 106 | 0.7 | % | 103 | 0.7 | % | ||||||||||||||||||||
Credit Opportunities Partners JV, LLC | 1,397 | 9.1 | % | 1,428 | 9.3 | % | ||||||||||||||||||||
Energy | 230 | 1.5 | % | 272 | 1.8 | % | ||||||||||||||||||||
Equity Real Estate Investment Trusts (REITs) | 307 | 2.0 | % | 336 | 2.2 | % | ||||||||||||||||||||
Financial Services | 801 | 5.2 | % | 844 | 5.5 | % | ||||||||||||||||||||
Food, Beverage & Tobacco | 207 | 1.4 | % | 226 | 1.4 | % | ||||||||||||||||||||
Health Care Equipment & Services | 1,951 | 12.8 | % | 1,963 | 12.8 | % | ||||||||||||||||||||
Household & Personal Products | 238 | 1.6 | % | 242 | 1.6 | % | ||||||||||||||||||||
Insurance | 969 | 6.3 | % | 974 | 6.3 | % | ||||||||||||||||||||
Materials | 227 | 1.5 | % | 197 | 1.3 | % | ||||||||||||||||||||
Media & Entertainment | 730 | 4.8 | % | 695 | 4.5 | % | ||||||||||||||||||||
Pharmaceuticals, Biotechnology & Life Sciences | 240 | 1.6 | % | 231 | 1.5 | % | ||||||||||||||||||||
Real Estate Management & Development | 130 | 0.9 | % | 156 | 1.0 | % | ||||||||||||||||||||
Software & Services | 2,525 | 16.5 | % | 2,591 | 16.8 | % | ||||||||||||||||||||
Technology Hardware & Equipment | 2 | 0.0 | % | 1 | 0.0 | % | ||||||||||||||||||||
Telecommunication Services | 73 | 0.5 | % | 76 | 0.5 | % | ||||||||||||||||||||
Transportation | 282 | 1.8 | % | 275 | 1.8 | % | ||||||||||||||||||||
Total | $ | 15,277 | 100.0 | % | $ | 15,377 | 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. |
The following table shows the distribution of our investments on the 1 to 4 investment rating scale at fair value as of March 31, 20222023 and December 31, 2021:
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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|
2022:
March 31, 2023 | December 31, 2022 | |||||||||||||||||||||||||
Investment Rating | Fair Value | Percentage of Portfolio | Fair Value | Percentage of Portfolio | ||||||||||||||||||||||
1 | $ | 11,376 | 74 | % | $ | 11,565 | 75 | % | ||||||||||||||||||
2 | 2,979 | 20 | % | 2,899 | 19 | % | ||||||||||||||||||||
3 | 296 | 2 | % | 452 | 3 | % | ||||||||||||||||||||
4 | 626 | 4 | % | 461 | 3 | % | ||||||||||||||||||||
Total | $ | 15,277 | 100 | % | $ | 15,377 | 100 | % |
2022
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 March 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||
Amount | Percentage of Total Income | Amount | Percentage of Total Income | |||||||||||||||||||||||||||||||||||||||||||||||
Interest income | $ | 327 | 71.7 | % | $ | 261 | 65.9 | % | ||||||||||||||||||||||||||||||||||||||||||
Paid-in-kind interest income | 42 | 9.2 | % | 43 | 10.9 | % | ||||||||||||||||||||||||||||||||||||||||||||
Fee income | 5 | 1.1 | % | 29 | 7.3 | % | ||||||||||||||||||||||||||||||||||||||||||||
Dividend income | 82 | 18.0 | % | 63 | 15.9 | % | ||||||||||||||||||||||||||||||||||||||||||||
Total investment income(1) | $ | 456 | 100.0 | % | $ | 396 | 100.0 | % |
rising interest rate environment.
The increase in dividend income during the three months ended March 31, 20222023 compared to the three months ended March 31, 20212022 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 March 31, | ||||||||||||||||||||||||||
2023 | 2022 | |||||||||||||||||||||||||
Management fees | $ | 58 | $ | 62 | ||||||||||||||||||||||
Subordinated income incentive fees | 46 | 40 | ||||||||||||||||||||||||
Administrative services expenses | 3 | 4 | ||||||||||||||||||||||||
Accounting and administrative fees | 1 | 1 | ||||||||||||||||||||||||
Interest expense | 114 | 77 | ||||||||||||||||||||||||
Other expenses | 5 | 7 | ||||||||||||||||||||||||
Total operating expenses | 227 | 191 | ||||||||||||||||||||||||
Incentive fee waiver | — | (15) | ||||||||||||||||||||||||
Net operating expenses | 227 | 176 | ||||||||||||||||||||||||
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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2022:
Three Months Ended March 31, | ||||||||||||||||||||||||||
2023 | 2022 | |||||||||||||||||||||||||
Ratio of operating expenses to average net assets | 3.21 | % | 2.46 | % | ||||||||||||||||||||||
Ratio of incentive fee waiver to average net assets(1) | — | % | (0.20) | % | ||||||||||||||||||||||
Ratio of net operating expenses to average net assets | 3.21 | % | 2.26 | % | ||||||||||||||||||||||
Ratio of net incentive fees, interest expense and excise taxes to average net assets(1) | 2.26 | % | 1.31 | % | ||||||||||||||||||||||
Ratio of net operating expenses, excluding certain expenses, to average net assets | 0.95 | % | 0.95 | % |
rising rate environment.
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 March 31, | ||||||||||||||||||||||||||
2023 | 2022 | |||||||||||||||||||||||||
Net realized gain (loss) on investments(1) | $ | (58) | $ | (32) | ||||||||||||||||||||||
Net realized gain (loss) on foreign currency forward contracts | 3 | 5 | ||||||||||||||||||||||||
Net realized gain (loss) on foreign currency | 1 | 1 | ||||||||||||||||||||||||
Total net realized gain (loss) | $ | (54) | $ | (26) |
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 March 31, | ||||||||||||||||||||||||||
2023 | 2022 | |||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments | $ | 31 | $ | 27 | ||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on foreign currency forward contracts | (4) | 1 | ||||||||||||||||||||||||
Net change in unrealized gain (loss) on foreign currency | (3) | 3 | ||||||||||||||||||||||||
Total net change in unrealized appreciation (depreciation) | $ | 24 | $ | 31 |
This “Results of Operations” section should be read in conjunction with “COVID-19 Developments” above.
2022.
subject to borrowing base and other limitations. As of March 31, 2022,2023, we also held broadly syndicated investments and opportunistic investments that we believe could be sold to create additional liquidity. As of March 31, 2022,2023, we had unfunded debt investments with aggregate unfunded commitments of $1,584.1,$941.9, unfunded equity/other commitments of $497.8$497.3 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 $ 150 $ 50 November 22, 2025 Prime Brokerage Facility — — September 26, 2023 Revolving Credit Facility 285 15 June 2, 2026 Revolving Credit Facility 240 10 February 26, 2025 Revolving Credit Facility 467 33 February 26, 2025 Revolving Credit Facility 300 — 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 $ 8,713 $ 2,577
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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|
2022:
Distribution | ||||||||||||||
For the Three Months Ended | Per Share | Amount | ||||||||||||
Fiscal 2022 | ||||||||||||||
March 31, 2022 | $ | 0.63 | $ | 179 | ||||||||||
Total | $ | 0.63 | $ | 179 | ||||||||||
Fiscal 2023 | ||||||||||||||
March 31, 2023 | $ | 0.70 | $ | 196 | ||||||||||
Total | $ | 0.70 | $ | 196 |
distribu
tions.4.750% Notes due 2022
assumed into the Darby Creek Funding Facility.
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;
•the Advisor then discussesprovides the valuation committee with its valuation determinations and valuation-related information for each portfolio company or investment, along with any applicable supporting materials; and other information that is relevant to the fair valuation process as required by the Advisor's board reporting obligations;
preliminary valuations are then discussed with the valuation committee;
our valuation committee reviews the preliminary valuations 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, our valuation committee recommends that our board of directors approves the fair valuations determined by the 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.
2022.
|
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 | $ | (110) | $ | (40) | $ | (70) | (6.4) | % | ||||||||||||||||||
Down 50 basis points | (55) | (20) | (35) | (3.2) | % | |||||||||||||||||||||
Up 50 basis points | 55 | 20 | 35 | 3.2 | % | |||||||||||||||||||||
Up 100 basis points | 110 | 40 | 70 | 6.4 | % | |||||||||||||||||||||
Up 150 basis points | 165 | 60 | 105 | 9.6 | % | |||||||||||||||||||||
Up 200 basis points | 220 | 80 | 140 | 12.8 | % | |||||||||||||||||||||
Up 250 basis points | 275 | 100 | 175 | 16.0 | % |
The table below presents the effect that a 10% immediate, unfavorable change in the foreign currency exchange rates (i.e. strengthening of the U.S. dollar) would have on the fair value of our investments denominated in foreign currencies as of March 31, 2022,2023, by foreign currency, all other valuation assumptions remaining constant. In addition, the table below presents the par value of our investments denominated in foreign currencies and the notional amount of foreign currency forward contracts in local currency in place as of March 31, 20222023 to hedge against foreign currency risks.
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 March 31, 2023 | Economic Hedging As of March 31, 2023 | |||||||||||||||||||||||||||||||||||||
Cost in Local Currency | Cost in US$ | Fair Value | Reduction in Fair Value as of March 31, 2023 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$ | 101.1 | $ | 67.8 | $ | 62.3 | $ | 6.2 | A$ | 10.6 | $ | 7.1 | ||||||||||||||||||||||||||
British Pound Sterling | £ | 36.8 | 45.5 | 42.5 | 4.3 | £ | 19.6 | 24.3 | ||||||||||||||||||||||||||||||
Canadian Dollars | $ | 31.8 | 23.5 | 22.7 | 2.3 | $ | 10.9 | 8.0 | ||||||||||||||||||||||||||||||
Euros | € | 477.0 | 518.6 | 262.3 | 26.2 | € | 34.9 | 37.8 | ||||||||||||||||||||||||||||||
Icelandic Krona | ISK | 1,383.4 | 10.1 | 9.6 | 1.0 | — | — | |||||||||||||||||||||||||||||||
Norwegian Krone | NOK | 465.9 | 44.6 | 35.5 | 3.6 | NOK | 45.8 | 4.4 | ||||||||||||||||||||||||||||||
Swedish Krona | SEK | 1,255.0 | 121.3 | 87.7 | 8.8 | SEK | 1,017.5 | 98.4 | ||||||||||||||||||||||||||||||
Total | $ | 831.4 | $ | 522.6 | $ | 52.4 | $ | 180.0 |
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2023.
Changes in Internal Control Over Financial Reporting
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has concluded since the aggregate repurchase amount under the program has been expended.
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 providesprovided 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.
During
up to approximately $54 worth of shares of our common stock, subject to the limitations provided therein. The November 2022 Affiliated Purchaser 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 | ||||||||||||||||||||||
January 1, 2023 through January 31, 2023 | 556,814 | $ | 18.75 | 556,814 | $ | 21 | ||||||||||||||||||||
February 1, 2023 through February 28, 2023 | 480,884 | 19.67 | 480,884 | 12 | ||||||||||||||||||||||
March 1, 2023 through March 31, 2023 | 627,619 | 18.41 | 627,619 | — | ||||||||||||||||||||||
1,665,317 | $ | 18.89 | 1,665,317 |
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| Inline XBRL Instance Document | ||||||||||
101.SCH* | Inline XBRL Taxonomy Extension Schema Document | ||||||||||
101.CAL* | Inline XBRL Taxonomy Extension Calculation Linkbase Document | ||||||||||
101.DEF* | Inline XBRL Taxonomy Extension Definition Linkbase Document | ||||||||||
101.LAB* | Inline XBRL Taxonomy Extension Label Linkbase Document | ||||||||||
101.PRE* | Inline XBRL Taxonomy Extension Presentation Linkbase Document | ||||||||||
104 | Cover Page Interactive Data File (embedded within the |
*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