þ | 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 |
DELAWARE (State or jurisdiction of incorporation or organization) | 26-1219283 (I.R.S. Employer Identification No.) | |||||||
333 South Grand Avenue, 28th Floor Los Angeles, CA (Address of principal executive office) | 90071 (Zip Code) |
Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered | ||||||||||||
Common Stock, par value $0.01 per share | OCSL | The Nasdaq Stock Market LLC |
Large accelerated filer | Accelerated filer | Non-accelerated filer ¨ | Smaller reporting company ¨ | |||||||||||||||||
Emerging growth company ¨ | If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ¨ |
Item 1. | Consolidated Financial Statements. |
December 31, 2020 (unaudited) | September 30, 2020 | |||||||||||||
ASSETS | ||||||||||||||
Investments at fair value: | ||||||||||||||
Control investments (cost December 31, 2020: $243,990; cost September 30, 2020: $245,950) | $ | 207,760 | $ | 201,385 | ||||||||||
Affiliate investments (cost December 31, 2020: $10,303; cost September 30, 2020: $7,551) | 8,971 | 6,509 | ||||||||||||
Non-control/Non-affiliate investments (cost December 31, 2020: $1,503,368; cost September 30, 2020: $1,415,669) | 1,495,593 | 1,365,957 | ||||||||||||
Total investments at fair value (cost December 31, 2020: $1,757,661; cost September 30, 2020: $1,669,170) | 1,712,324 | 1,573,851 | ||||||||||||
Cash and cash equivalents | 24,234 | 39,096 | ||||||||||||
Interest, dividends and fees receivable | 8,999 | 6,935 | ||||||||||||
Due from portfolio companies | 2,093 | 2,725 | ||||||||||||
Receivables from unsettled transactions | 11,054 | 9,123 | ||||||||||||
Deferred financing costs | 5,840 | 5,947 | ||||||||||||
Deferred offering costs | 67 | 67 | ||||||||||||
Deferred tax asset, net | 1,122 | 847 | ||||||||||||
Derivative assets at fair value | — | 223 | ||||||||||||
Other assets | 28,170 | 1,898 | ||||||||||||
Total assets | $ | 1,793,903 | $ | 1,640,712 | ||||||||||
LIABILITIES AND NET ASSETS | ||||||||||||||
Liabilities: | ||||||||||||||
Accounts payable, accrued expenses and other liabilities | $ | 2,442 | $ | 1,072 | ||||||||||
Base management fee and incentive fee payable | 20,230 | 11,212 | ||||||||||||
Due to affiliate | 2,355 | 2,130 | ||||||||||||
Interest payable | 4,192 | 1,626 | ||||||||||||
Payables from unsettled transactions | 102,737 | 478 | ||||||||||||
Derivative liability at fair value | 2,203 | — | ||||||||||||
Credit facility payable | 400,025 | 414,825 | ||||||||||||
Unsecured notes payable (net of $3,086 and $3,272 of unamortized financing costs as of December 31, 2020 and September 30, 2020, respectively) | 294,802 | 294,490 | ||||||||||||
Total liabilities | 828,986 | 725,833 | ||||||||||||
Commitments and contingencies (Note 14) | ||||||||||||||
Net assets: | ||||||||||||||
Common stock, $0.01 par value per share, 250,000 shares authorized; 140,961 shares issued and outstanding as of December 31, 2020 and September 30, 2020 | 1,409 | 1,409 | ||||||||||||
Additional paid-in-capital | 1,487,774 | 1,487,774 | ||||||||||||
Accumulated overdistributed earnings | (524,266) | (574,304) | ||||||||||||
Total net assets (equivalent to $6.85 and $6.49 per common share as of December 31, 2020 and September 30, 2020, respectively) (Note 12) | 964,917 | 914,879 | ||||||||||||
Total liabilities and net assets | $ | 1,793,903 | $ | 1,640,712 |
December 31, 2017 (unaudited) | September 30, 2017 | |||||||
ASSETS | ||||||||
Investments at fair value: | ||||||||
Control investments (cost December 31, 2017: $438,415; cost September 30, 2017: $444,826) | $ | 297,534 | $ | 305,271 | ||||
Affiliate investments (cost December 31, 2017: $33,397; cost September 30, 2017: $33,743) | 36,469 | 36,983 | ||||||
Non-control/Non-affiliate investments (cost December 31, 2017: $1,204,629; cost September 30, 2017: $1,279,096) | 1,081,401 | 1,199,501 | ||||||
Total investments at fair value (cost December 31, 2017: $1,676,441; cost September 30, 2017: $1,757,665) | 1,415,404 | 1,541,755 | ||||||
Cash and cash equivalents | 45,435 | 53,018 | ||||||
Restricted cash | 319 | 6,895 | ||||||
Interest, dividends and fees receivable | 9,082 | 6,892 | ||||||
Due from portfolio companies | 5,368 | 5,670 | ||||||
Receivables from unsettled transactions | 8,869 | — | ||||||
Deferred financing costs | 6,443 | 1,304 | ||||||
Other assets | 3,260 | 514 | ||||||
Total assets | $ | 1,494,180 | $ | 1,616,048 | ||||
LIABILITIES AND NET ASSETS | ||||||||
Liabilities: | ||||||||
Accounts payable, accrued expenses and other liabilities | $ | 3,490 | $ | 2,417 | ||||
Base management fee and Part I incentive fee payable | 6,286 | 6,750 | ||||||
Due to affiliate | 1,534 | 1,815 | ||||||
Interest payable | 6,547 | 3,167 | ||||||
Amounts payable to syndication partners | — | 1 | ||||||
Director fees payable | 176 | 184 | ||||||
Payables from unsettled transactions | 33,465 | 58,691 | ||||||
Credit facilities payable | 205,000 | 255,995 | ||||||
Unsecured notes payable (net of $4,432 and $4,737 of unamortized financing costs as of December 31, 2017 and September 30, 2017, respectively) | 406,486 | 406,115 | ||||||
Secured borrowings at fair value (proceeds of $13,489 as of December 31, 2017 and September 30, 2017) | 11,601 | 13,256 | ||||||
Total liabilities | 674,585 | 748,391 | ||||||
Commitments and contingencies (Note 15) | ||||||||
Net assets: | ||||||||
Common stock, $0.01 par value, 250,000 shares authorized; 140,961 shares issued and outstanding as of December 31, 2017 and September 30, 2017 | 1,409 | 1,409 | ||||||
Additional paid-in-capital | 1,579,278 | 1,579,278 | ||||||
Net unrealized depreciation on investments and secured borrowings | (259,149 | ) | (215,677 | ) | ||||
Net realized loss on investments and secured borrowings | (478,301 | ) | (478,010 | ) | ||||
Accumulated overdistributed net investment income | (23,642 | ) | (19,343 | ) | ||||
Total net assets (equivalent to $5.81 and $6.16 per common share as of December 31, 2017 and September 30, 2017, respectively) (Note 12) | 819,595 | 867,657 | ||||||
Total liabilities and net assets | $ | 1,494,180 | $ | 1,616,048 |
Three months ended December 31, 2020 | Three months ended December 31, 2019 | |||||||||||||
Interest income: | ||||||||||||||
Control investments | $ | 2,343 | $ | 2,551 | ||||||||||
Affiliate investments | 105 | 114 | ||||||||||||
Non-control/Non-affiliate investments | 29,184 | 25,659 | ||||||||||||
Interest on cash and cash equivalents | 1 | 81 | ||||||||||||
Total interest income | 31,633 | 28,405 | ||||||||||||
PIK interest income: | ||||||||||||||
Non-control/Non-affiliate investments | 3,089 | 1,161 | ||||||||||||
Total PIK interest income | 3,089 | 1,161 | ||||||||||||
Fee income: | ||||||||||||||
Control investments | 15 | 6 | ||||||||||||
Affiliate investments | 5 | 5 | ||||||||||||
Non-control/Non-affiliate investments | 3,332 | 1,060 | ||||||||||||
Total fee income | 3,352 | 1,071 | ||||||||||||
Dividend income: | ||||||||||||||
Control investments | 130 | 323 | ||||||||||||
Total dividend income | 130 | 323 | ||||||||||||
Total investment income | 38,204 | 30,960 | ||||||||||||
Expenses: | ||||||||||||||
Base management fee | 6,541 | 5,607 | ||||||||||||
Part I incentive fee | 4,149 | 2,988 | ||||||||||||
Part II incentive fee | 9,540 | 1,051 | ||||||||||||
Professional fees | 867 | 640 | ||||||||||||
Directors fees | 143 | 143 | ||||||||||||
Interest expense | 6,095 | 6,535 | ||||||||||||
Administrator expense | 333 | 428 | ||||||||||||
General and administrative expenses | 518 | 532 | ||||||||||||
Total expenses | 28,186 | 17,924 | ||||||||||||
Reversal of fees waived | — | 5,200 | ||||||||||||
Net expenses | 28,186 | 23,124 | ||||||||||||
Net investment income | 10,018 | 7,836 | ||||||||||||
Unrealized appreciation (depreciation): | ||||||||||||||
Control investments | 8,335 | 1,997 | ||||||||||||
Affiliate investments | (290) | (64) | ||||||||||||
Non-control/Non-affiliate investments | 41,937 | 2,408 | ||||||||||||
Foreign currency forward contracts | (2,426) | (1,462) | ||||||||||||
Net unrealized appreciation (depreciation) | 47,556 | 2,879 | ||||||||||||
Realized gains (losses): | ||||||||||||||
Non-control/Non-affiliate investments | 8,738 | 3,839 | ||||||||||||
Foreign currency forward contracts | (523) | (551) | ||||||||||||
Net realized gains (losses) | 8,215 | 3,288 | ||||||||||||
Provision for income tax (expense) benefit | (245) | (160) | ||||||||||||
Net realized and unrealized gains (losses), net of taxes | 55,526 | 6,007 | ||||||||||||
Net increase (decrease) in net assets resulting from operations | $ | 65,544 | $ | 13,843 | ||||||||||
Net investment income per common share — basic and diluted | $ | 0.07 | $ | 0.06 | ||||||||||
Earnings (loss) per common share — basic and diluted (Note 5) | $ | 0.46 | $ | 0.10 | ||||||||||
Weighted average common shares outstanding — basic and diluted | 140,961 | 140,961 |
Three months ended December 31, 2017 | Three months ended December 31, 2016 | |||||||
Interest income: | ||||||||
Control investments | $ | 3,203 | $ | 4,445 | ||||
Affiliate investments | 949 | 1,008 | ||||||
Non-control/Non-affiliate investments | 25,565 | 38,301 | ||||||
Interest on cash and cash equivalents | 221 | 119 | ||||||
Total interest income | 29,938 | 43,873 | ||||||
PIK interest income: | ||||||||
Control investments | 1,191 | 1,560 | ||||||
Affiliate investments | 176 | 201 | ||||||
Non-control/Non-affiliate investments | 500 | 1,076 | ||||||
Total PIK interest income | 1,867 | 2,837 | ||||||
Fee income: | ||||||||
Control investments | 120 | 309 | ||||||
Affiliate investments | 4 | 482 | ||||||
Non-control/Non-affiliate investments | 907 | 2,777 | ||||||
Total fee income | 1,031 | 3,568 | ||||||
Dividend and other income: | ||||||||
Control investments | 1,040 | 1,462 | ||||||
Non-control/Non-affiliate investments | — | 20 | ||||||
Total dividend and other income | 1,040 | 1,482 | ||||||
Total investment income | 33,876 | 51,760 | ||||||
Expenses: | ||||||||
Base management fee | 5,590 | 8,614 | ||||||
Part I incentive fee | 830 | 4,063 | ||||||
Professional fees | 2,898 | 1,064 | ||||||
Board of Directors fees | 176 | 197 | ||||||
Interest expense | 9,584 | 13,189 | ||||||
Administrator expense | 494 | 531 | ||||||
General and administrative expenses | 1,116 | 1,468 | ||||||
Loss on legal settlements | — | 3 | ||||||
Total expenses | 20,688 | 29,129 | ||||||
Fees waived | (134 | ) | (61 | ) | ||||
Insurance recoveries | — | (602 | ) | |||||
Net expenses | 20,554 | 28,466 | ||||||
Net investment income | 13,322 | 23,294 | ||||||
Unrealized appreciation (depreciation) on investments: | ||||||||
Control investments | (1,326 | ) | 1,339 | |||||
Affiliate investments | (168 | ) | 26 | |||||
Non-control/Non-affiliate investments | (43,633 | ) | (75,721 | ) | ||||
Net unrealized depreciation on investments | (45,127 | ) | (74,356 | ) | ||||
Net unrealized (appreciation) depreciation on secured borrowings | 1,655 | (84 | ) | |||||
Realized gain (loss) on investments and secured borrowings: | ||||||||
Control investments | — | (23,624 | ) | |||||
Non-control/Non-affiliate investments | (291 | ) | 528 | |||||
Net realized loss on investments and secured borrowings | (291 | ) | (23,096 | ) | ||||
Net decrease in net assets resulting from operations | $ | (30,441 | ) | $ | (74,242 | ) | ||
Net investment income per common share — basic | $ | 0.09 | $ | 0.16 | ||||
Loss per common share — basic | $ | (0.22 | ) | $ | (0.52 | ) | ||
Weighted average common shares outstanding — basic | 140,961 | 142,853 | ||||||
Net investment income per common share — diluted | $ | 0.09 | $ | 0.16 | ||||
Loss per common share — diluted (Note 5) | $ | (0.22 | ) | $ | (0.52 | ) | ||
Weighted average common shares outstanding — diluted | 140,961 | 142,853 | ||||||
Distributions per common share | $ | 0.125 | $ | 0.18 |
Three months ended December 31, 2020 | Three months ended December 31, 2019 | |||||||||||||
Operations: | ||||||||||||||
Net investment income | $ | 10,018 | $ | 7,836 | ||||||||||
Net unrealized appreciation (depreciation) | 47,556 | 2,879 | ||||||||||||
Net realized gains (losses) | 8,215 | 3,288 | ||||||||||||
Provision for income tax (expense) benefit | (245) | (160) | ||||||||||||
Net increase (decrease) in net assets resulting from operations | 65,544 | 13,843 | ||||||||||||
Stockholder transactions: | ||||||||||||||
Distributions to stockholders | (15,506) | (13,391) | ||||||||||||
Net increase (decrease) in net assets from stockholder transactions | (15,506) | (13,391) | ||||||||||||
Capital share transactions: | ||||||||||||||
Issuance of common stock under dividend reinvestment plan | 528 | 481 | ||||||||||||
Repurchases of common stock under dividend reinvestment plan | (528) | (481) | ||||||||||||
Net increase (decrease) in net assets from capital share transactions | — | — | ||||||||||||
Total increase (decrease) in net assets | 50,038 | 452 | ||||||||||||
Net assets at beginning of period | 914,879 | 930,630 | ||||||||||||
Net assets at end of period | $ | 964,917 | $ | 931,082 | ||||||||||
Net asset value per common share | $ | 6.85 | $ | 6.61 | ||||||||||
Common shares outstanding at end of period | 140,961 | 140,961 |
Three months ended December 31, 2017 | Three months ended December 31, 2016 | ||||||||
Operations: | |||||||||
Net investment income | $ | 13,322 | $ | 23,294 | |||||
Net unrealized depreciation on investments | (45,127 | ) | (74,356 | ) | |||||
Net unrealized (appreciation) depreciation on secured borrowings | 1,655 | (84 | ) | ||||||
Net realized loss on investments and secured borrowings | (291 | ) | (23,096 | ) | |||||
Net decrease in net assets resulting from operations | (30,441 | ) | (74,242 | ) | |||||
Stockholder transactions: | |||||||||
Distributions to stockholders | (17,621 | ) | (25,274 | ) | |||||
Net decrease in net assets from stockholder transactions | (17,621 | ) | (25,274 | ) | |||||
Capital share transactions: | |||||||||
Issuance of common stock under dividend reinvestment plan | 294 | 1,250 | |||||||
Repurchases of common stock under stock repurchase program | — | (12,500 | ) | ||||||
Repurchases of common stock under dividend reinvestment program | (294 | ) | (1,250 | ) | |||||
Net decrease in net assets from capital share transactions | — | (12,500 | ) | ||||||
Total decrease in net assets | (48,062 | ) | (112,016 | ) | |||||
Net assets at beginning of period | 867,657 | 1,142,288 | |||||||
Net assets at end of period | $ | 819,595 | $ | 1,030,272 | |||||
Net asset value per common share | $ | 5.81 | $ | 7.31 | |||||
Common shares outstanding at end of period | 140,961 | 140,961 |
Three months ended December 31, 2017 | Three months ended December 31, 2016 | ||||||||
Operating activities: | |||||||||
Net decrease in net assets resulting from operations | $ | (30,441 | ) | $ | (74,242 | ) | |||
Adjustments to reconcile net decrease in net assets resulting from operations to net cash provided by operating activities: | |||||||||
Net unrealized depreciation on investments | 45,127 | 74,356 | |||||||
Net unrealized appreciation (depreciation) on secured borrowings | (1,655 | ) | 84 | ||||||
Net realized loss on investments and secured borrowings | 291 | 23,096 | |||||||
PIK interest income | (1,867 | ) | (2,837 | ) | |||||
Recognition of fee income | (1,031 | ) | (3,568 | ) | |||||
Accretion of original issue discount on investments | (2,997 | ) | (2,201 | ) | |||||
Accretion of original issue discount on unsecured notes payable | 66 | 66 | |||||||
Amortization of deferred financing costs | 1,341 | 999 | |||||||
Changes in operating assets and liabilities: | |||||||||
Fee income received | 1,031 | 3,583 | |||||||
Decrease in restricted cash | 6,576 | 11,315 | |||||||
(Increase) decrease in interest, dividends and fees receivable | (2,190 | ) | 3,285 | ||||||
Decrease in due from portfolio companies | 302 | 958 | |||||||
(Increase) decrease in receivables from unsettled transactions | (8,869 | ) | 5,346 | ||||||
Decrease in insurance recoveries receivable | — | 759 | |||||||
(Increase) decrease in other assets | (2,746 | ) | 372 | ||||||
Increase in accounts payable, accrued expenses and other liabilities | 1,073 | 1,534 | |||||||
Decrease in base management fee and Part I incentive fee payable | (464 | ) | (3,557 | ) | |||||
Decrease in due to affiliate | (281 | ) | (145 | ) | |||||
Increase in interest payable | 3,380 | 5,148 | |||||||
Increase (decrease) in payables from unsettled transactions | (25,226 | ) | 13,269 | ||||||
Decrease in director fees payable | (8 | ) | (369 | ) | |||||
Decrease in legal settlements payable | — | (530 | ) | ||||||
Increase (decrease) in amounts payable to syndication partners | (1 | ) | 1,030 | ||||||
Purchases of investments and net revolver activity | (200,166 | ) | (104,153 | ) | |||||
Principal payments received on investments (scheduled payments) | 14,149 | 6,371 | |||||||
Principal payments received on investments (payoffs) | 196,415 | 209,241 | |||||||
PIK interest income received in cash | 1,103 | 3,434 | |||||||
Proceeds from the sale of investments | 74,296 | 6,427 | |||||||
Net cash provided by operating activities | 67,208 | 179,071 | |||||||
Financing activities: | |||||||||
Distributions paid in cash | (17,327 | ) | (24,024 | ) | |||||
Borrowings under credit facilities | 35,000 | 84,000 | |||||||
Repayments of borrowings under credit facilities | (85,995 | ) | (158,882 | ) | |||||
Repayments of secured borrowings | — | (4,503 | ) | ||||||
Repurchases of common stock under stock repurchase program | — | (12,500 | ) | ||||||
Repurchases of common stock under dividend reinvestment plan | (294 | ) | (1,250 | ) | |||||
Deferred financing costs paid | (6,175 | ) | — | ||||||
Net cash used by financing activities | (74,791 | ) | (117,159 | ) | |||||
Net increase (decrease) in cash and cash equivalents | (7,583 | ) | 61,912 | ||||||
Cash and cash equivalents, beginning of period | 53,018 | 117,923 | |||||||
Cash and cash equivalents, end of period | $ | 45,435 | $ | 179,835 | |||||
Supplemental information: | |||||||||
Cash paid for interest | $ | 4,797 | $ | 6,976 | |||||
Non-cash operating activities: | |||||||||
Purchases of investments from restructurings | $ | — | $ | (125,693 | ) | ||||
Proceeds from investment restructurings | $ | — | $ | 125,693 | |||||
Non-cash financing activities: | |||||||||
Issuance of shares of common stock under dividend reinvestment plan | $ | 294 | $ | 1,250 |
Three months ended December 31, 2020 | Three months ended December 31, 2019 | |||||||||||||
Operating activities: | ||||||||||||||
Net increase (decrease) in net assets resulting from operations | $ | 65,544 | $ | 13,843 | ||||||||||
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities: | ||||||||||||||
Net unrealized (appreciation) depreciation | (47,556) | (2,879) | ||||||||||||
Net realized (gains) losses | (8,215) | (3,288) | ||||||||||||
PIK interest income | (3,089) | (1,161) | ||||||||||||
Accretion of original issue discount on investments | (3,143) | (2,028) | ||||||||||||
Accretion of original issue discount on unsecured notes payable | 127 | — | ||||||||||||
Amortization of deferred financing costs | 636 | 463 | ||||||||||||
Deferred taxes | (275) | 225 | ||||||||||||
Purchases of investments | (243,741) | (115,792) | ||||||||||||
Proceeds from the sales and repayments of investments | 169,821 | 97,022 | ||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||
(Increase) decrease in interest, dividends and fees receivable | (1,848) | 811 | ||||||||||||
(Increase) decrease in due from portfolio companies | 632 | (315) | ||||||||||||
(Increase) decrease in receivables from unsettled transactions | (1,931) | (872) | ||||||||||||
(Increase) decrease in other assets | (26,272) | (267) | ||||||||||||
Increase (decrease) in accounts payable, accrued expenses and other liabilities | 1,314 | (92) | ||||||||||||
Increase (decrease) in base management fee and incentive fee payable | 9,018 | 5,804 | ||||||||||||
Increase (decrease) in due to affiliate | 225 | (141) | ||||||||||||
Increase (decrease) in interest payable | 2,566 | 106 | ||||||||||||
Increase (decrease) in payables from unsettled transactions | 102,259 | (34,909) | ||||||||||||
Increase (decrease) in amounts payable to syndication partners | — | 1 | ||||||||||||
Net cash provided by (used in) operating activities | 16,072 | (43,469) | ||||||||||||
Financing activities: | ||||||||||||||
Distributions paid in cash | (14,978) | (12,910) | ||||||||||||
Borrowings under credit facilities | — | 82,000 | ||||||||||||
Repayments of borrowings under credit facilities | (14,800) | (19,000) | ||||||||||||
Repurchases of common stock under dividend reinvestment plan | (528) | (481) | ||||||||||||
Deferred financing costs paid | (288) | — | ||||||||||||
Deferred offering costs paid | — | (20) | ||||||||||||
Net cash provided by (used in) financing activities | (30,594) | 49,589 | ||||||||||||
Effect of exchange rate changes on foreign currency | (340) | 1 | ||||||||||||
Net increase (decrease) in cash and cash equivalents | (14,862) | 6,121 | ||||||||||||
Cash and cash equivalents, beginning of period | 39,096 | 15,406 | ||||||||||||
Cash and cash equivalents, end of period | $ | 24,234 | $ | 21,527 | ||||||||||
Supplemental information: | ||||||||||||||
Cash paid for interest | $ | 2,766 | $ | 5,966 | ||||||||||
Non-cash financing activities: | ||||||||||||||
Issuance of shares of common stock under dividend reinvestment plan | $ | 528 | $ | 481 | ||||||||||
Deferred financing costs | (57) | — | ||||||||||||
Deferred offering costs | — | (45) | ||||||||||||
Reconciliation to the Consolidated Statements of Assets and Liabilities | December 31, 2020 | September 30, 2020 | ||||||||||||
Cash and cash equivalents | $ | 24,234 | $ | 39,096 | ||||||||||
Restricted cash | — | — | ||||||||||||
Total cash and cash equivalents and restricted cash | $ | 24,234 | $ | 39,096 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Control Investments | (8)(9) | ||||||||||||||||||||||||||||
C5 Technology Holdings, LLC | Data Processing & Outsourced Services | ||||||||||||||||||||||||||||
829 Common Units | $ | — | $ | — | (20) | ||||||||||||||||||||||||
34,984,460.37 Preferred Units | 34,984 | 27,638 | (20) | ||||||||||||||||||||||||||
34,984 | 27,638 | ||||||||||||||||||||||||||||
Dominion Diagnostics, LLC | Health Care Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 2/28/2024 | 6.00 | % | $ | 27,590 | 27,590 | 27,590 | (6)(20) | ||||||||||||||||||||||
First Lien Revolver, LIBOR+5.00% cash due 2/28/2024 | 6.00 | % | 7,699 | 7,699 | 7,699 | (6)(19)(20) | |||||||||||||||||||||||
30,030.8 Common Units in DD Healthcare Services Holdings, LLC | 18,626 | 7,667 | (20) | ||||||||||||||||||||||||||
53,915 | 42,956 | ||||||||||||||||||||||||||||
First Star Speir Aviation Limited | Airlines | (10) | |||||||||||||||||||||||||||
First Lien Term Loan, 9.00% cash due 12/15/2025 | 7,500 | — | 7,500 | (11)(20) | |||||||||||||||||||||||||
100% equity interest | 6,356 | 1,681 | (11)(12)(20) | ||||||||||||||||||||||||||
6,356 | 9,181 | ||||||||||||||||||||||||||||
New IPT, Inc. | Oil & Gas Equipment & Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 3/17/2021 | 6.00 | % | 2,154 | 2,154 | 1,683 | (6)(20) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+5.00% cash due 3/17/2021 | 6.00 | % | 1,009 | 1,009 | 788 | (6)(19)(20) | |||||||||||||||||||||||
50.087 Class A Common Units in New IPT Holdings, LLC | — | — | (20) | ||||||||||||||||||||||||||
3,163 | 2,471 | ||||||||||||||||||||||||||||
Senior Loan Fund JV I, LLC | Multi-Sector Holdings | (14) | |||||||||||||||||||||||||||
Subordinated Debt, LIBOR+7.00% cash due 12/29/2028 | 7.14 | % | 96,250 | 96,250 | 96,250 | (6)(11)(20) | |||||||||||||||||||||||
87.5% LLC equity interest | 49,322 | 29,264 | (11)(16)(19) | ||||||||||||||||||||||||||
145,572 | 125,514 | ||||||||||||||||||||||||||||
Total Control Investments (21.5% of net assets) | $ | 243,990 | $ | 207,760 | |||||||||||||||||||||||||
Affiliate Investments | (17) | ||||||||||||||||||||||||||||
Assembled Brands Capital LLC | Specialized Finance | ||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+6.00% cash due 10/17/2023 | 7.00 | % | $ | 7,440 | $ | 7,440 | $ | 6,949 | (6)(19)(20) | ||||||||||||||||||||
1,609,201 Class A Units | 764 | 418 | (20) | ||||||||||||||||||||||||||
1,019,168.80 Preferred Units, 6% | 1,019 | 1,101 | (20) | ||||||||||||||||||||||||||
70,424.5641 Class A Warrants (exercise price $3.3778) expiration date 9/9/2029 | — | — | (20) | ||||||||||||||||||||||||||
9,223 | 8,468 | ||||||||||||||||||||||||||||
Caregiver Services, Inc. | Health Care Services | ||||||||||||||||||||||||||||
1,080,399 shares of Series A Preferred Stock, 10% | 1,080 | 503 | (20) | ||||||||||||||||||||||||||
1,080 | 503 | ||||||||||||||||||||||||||||
Total Affiliate Investments (0.9% of net assets) | $ | 10,303 | $ | 8,971 | |||||||||||||||||||||||||
Non-Control/Non-Affiliate Investments | (18) | ||||||||||||||||||||||||||||
4 Over International, LLC | Commercial Printing | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 6/7/2022 | 7.00 | % | $ | 5,645 | $ | 5,627 | $ | 5,236 | (6)(20) | ||||||||||||||||||||
First Lien Revolver, LIBOR+6.00% cash due 6/7/2021 | 7.00 | % | 2,232 | 2,214 | 2,070 | (6)(20) | |||||||||||||||||||||||
7,841 | 7,306 | ||||||||||||||||||||||||||||
A.T. Holdings II SÀRL | Biotechnology | ||||||||||||||||||||||||||||
First Lien Term Loan, 9.50% cash due 12/22/2022 | 37,158 | 36,793 | 36,786 | (11)(20) | |||||||||||||||||||||||||
36,793 | 36,786 | ||||||||||||||||||||||||||||
Access CIG, LLC | Diversified Support Services | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.75% cash due 2/27/2026 | 7.98 | % | 15,000 | 14,913 | 14,869 | (6) | |||||||||||||||||||||||
14,913 | 14,869 |
Portfolio Company/Type of Investment (1)(2)(5)(9)(14) | Cash Interest Rate (13) | Industry | Principal (8) | Cost | Fair Value | ||||||||||||
Control Investments (3)(15) | |||||||||||||||||
Traffic Solutions Holdings, Inc. | Construction and engineering | ||||||||||||||||
First Lien Term Loan, LIBOR+7% (1% floor) cash 2% PIK due 4/1/2021 (13) | 8.70 | % | $ | 36,661 | $ | 36,637 | $ | 36,662 | |||||||||
First Lien Revolver, LIBOR+6% (1% floor) cash due 4/1/2021 (13) | 7.70 | % | 2,000 | 1,997 | 2,000 | ||||||||||||
LC Facility, 6% cash due 4/1/2021 | 4,752 | 4,748 | 4,752 | ||||||||||||||
746,114 Series A Preferred Units, 10% | 20,029 | 7,700 | |||||||||||||||
746,114 Shares of Common Stock | 5,316 | — | |||||||||||||||
68,727 | 51,114 | ||||||||||||||||
TransTrade Operators, Inc. | Air freight & logistics | ||||||||||||||||
First Lien Term Loan, 5% cash due 12/31/2017 (22)(24) | 15,973 | 15,574 | 1,810 | ||||||||||||||
First Lien Revolver, 8% cash due 12/31/2017 (22)(24) | 7,757 | 7,757 | — | ||||||||||||||
596.67 Series A Common Units | — | — | |||||||||||||||
4,000 Series A Preferred Units in TransTrade Holdings LLC | 4,000 | — | |||||||||||||||
5,200,000 Series B Preferred Units in TransTrade Holdings LLC | 5,200 | — | |||||||||||||||
32,531 | 1,810 | ||||||||||||||||
First Star Speir Aviation Limited (11)(16) | Airlines | ||||||||||||||||
First Lien Term Loan, 9% cash due 12/15/2020 | 32,510 | 25,194 | 32,511 | ||||||||||||||
100% equity interest (6) | 8,500 | 6,937 | |||||||||||||||
33,694 | 39,448 | ||||||||||||||||
First Star Bermuda Aviation Limited (11)(16) | Airlines | ||||||||||||||||
First Lien Term Loan, 9% cash 3% PIK due 8/19/2018 | 11,868 | 11,868 | 11,868 | ||||||||||||||
100% equity interest (6) | 5,192 | 7,316 | |||||||||||||||
17,060 | 19,184 | ||||||||||||||||
Eagle Hospital Physicians, LLC | Healthcare services | ||||||||||||||||
Earn-out (19) | 7,851 | 5,083 | |||||||||||||||
7,851 | 5,083 | ||||||||||||||||
Senior Loan Fund JV I, LLC (11)(17)(18) | Multi-sector holdings | ||||||||||||||||
Class A Mezzanine Secured Deferrable Floating Rate Notes due 2036 in SLF Repack Issuer 2016 LLC (13) | 6.52 | % | 100,804 | 100,804 | 100,804 | ||||||||||||
Class B Mezzanine Secured Deferrable Fixed Rate Notes, 15% PIK due 2036 in SLF Repack Issuer 2016 LLC | 27,463 | 27,463 | 27,463 | ||||||||||||||
87.5% LLC equity interest (25) | 16,172 | 4,880 | |||||||||||||||
144,439 | 133,147 | ||||||||||||||||
Ameritox Ltd. | Healthcare services | ||||||||||||||||
First Lien Term Loan, LIBOR+5% (1% floor) cash 3% PIK due 4/11/2021 (13)(22) | 6.69 | % | 39,438 | 37,533 | 4,800 | ||||||||||||
14,090,126.4 Class A Preferred Units in Ameritox Holdings II, LLC | 14,090 | — | |||||||||||||||
1,602,260.83 Class B Preferred Units in Ameritox Holdings II, LLC | 1,602 | — | |||||||||||||||
4,930.03 Class A Units in Ameritox Holdings II, LLC | 29,049 | — | |||||||||||||||
82,274 | 4,800 | ||||||||||||||||
New IPT, Inc. | Oil & gas equipment services | ||||||||||||||||
First Lien Term Loan, LIBOR+5% (1% floor) cash due 3/17/2021 (13) | 6.69 | % | 4,107 | 4,107 | 4,107 | ||||||||||||
Second Lien Term Loan, LIBOR+5.1% (1% floor) cash due 9/17/2021 (13) | 6.79 | % | 2,504 | 2,504 | 2,504 | ||||||||||||
First Lien Revolver, LIBOR+5% (1% floor) cash due 3/17/2021 (13) | 6.69 | % | 1,009 | 1,009 | 1,009 | ||||||||||||
50.087 Class A Common Units in New IPT Holdings, LLC | — | 963 | |||||||||||||||
7,620 | 8,583 | ||||||||||||||||
AdVenture Interactive, Corp. | Advertising | ||||||||||||||||
9,073 shares of common stock | 13,611 | 6,421 | |||||||||||||||
13,611 | 6,421 | ||||||||||||||||
Keypath Education, Inc. | Advertising | ||||||||||||||||
First Lien Term Loan, LIBOR+7% (1% floor) cash due 4/3/2022 (13) | 8.69 | % | 19,960 | 19,960 | 19,960 | ||||||||||||
First Lien Revolver, LIBOR+7% (1% floor) cash due 4/3/2022 (13) | 8.69 | % | — | — | — | ||||||||||||
9,073 Class A Units in FS AVI Holdco, LLC | 10,648 | 7,984 | |||||||||||||||
30,608 | 27,944 | ||||||||||||||||
Total Control Investments (36.3% of net assets) | $ | 438,415 | $ | 297,534 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Accupac, Inc. | Personal Products | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 1/17/2026 | 7.00 | % | $ | 12,456 | $ | 12,273 | $ | 12,456 | (6)(20) | ||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+6.00% cash due 1/17/2026 | — | (34) | — | (6)(19)(20) | |||||||||||||||||||||||||
First Lien Revolver, LIBOR+6.00% cash due 1/17/2026 | 7.00 | % | 1,564 | 1,541 | 1,564 | (6)(20) | |||||||||||||||||||||||
13,780 | 14,020 | ||||||||||||||||||||||||||||
Acquia Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 10/31/2025 | 8.00 | % | 20,950 | 20,612 | 20,656 | (6)(20) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+7.00% cash due 10/31/2025 | — | (37) | (31) | (6)(19)(20) | |||||||||||||||||||||||||
20,575 | 20,625 | ||||||||||||||||||||||||||||
ADB Companies, LLC | Construction & Engineering | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.25% cash due 12/18/2025 | 7.25 | % | 8,333 | 8,125 | 8,167 | (6)(20) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+6.25% cash due 12/18/2025 | — | (42) | (33) | (6)(19)(20) | |||||||||||||||||||||||||
8,083 | 8,134 | ||||||||||||||||||||||||||||
Aden & Anais Merger Sub, Inc. | Apparel, Accessories & Luxury Goods | ||||||||||||||||||||||||||||
51,645 Common Units in Aden & Anais Holdings, Inc. | 5,165 | — | (20) | ||||||||||||||||||||||||||
5,165 | — | ||||||||||||||||||||||||||||
AdVenture Interactive, Corp. | Advertising | ||||||||||||||||||||||||||||
9,073 shares of common stock | 13,611 | 13,857 | (20) | ||||||||||||||||||||||||||
13,611 | 13,857 | ||||||||||||||||||||||||||||
AI Ladder (Luxembourg) Subco S.a.r.l. | Electrical Components & Equipment | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 7/9/2025 | 4.65 | % | 16,301 | 15,984 | 16,199 | (6)(11) | |||||||||||||||||||||||
15,984 | 16,199 | ||||||||||||||||||||||||||||
AI Sirona (Luxembourg) Acquisition S.a.r.l. | Pharmaceuticals | ||||||||||||||||||||||||||||
Second Lien Term Loan, EURIBOR+7.25% cash due 9/28/2026 | 7.25 | % | € | 24,838 | 27,683 | 30,315 | (6)(11)(20) | ||||||||||||||||||||||
27,683 | 30,315 | ||||||||||||||||||||||||||||
Airbnb, Inc. | Hotels, Resorts & Cruise Lines | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.50% cash due 4/17/2025 | 8.50 | % | $ | 15,703 | 15,360 | 17,057 | (6) | ||||||||||||||||||||||
15,360 | 17,057 | ||||||||||||||||||||||||||||
AirStrip Technologies, Inc. | Application Software | ||||||||||||||||||||||||||||
5,715 Common Stock Warrants (exercise price $139.99) expiration date 5/11/2025 | 90 | — | (20) | ||||||||||||||||||||||||||
90 | — | ||||||||||||||||||||||||||||
Aldevron, L.L.C. | Biotechnology | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 10/12/2026 | 5.25 | % | 7,940 | 7,861 | 7,980 | (6) | |||||||||||||||||||||||
7,861 | 7,980 | ||||||||||||||||||||||||||||
Algeco Scotsman Global Finance Plc | Construction & Engineering | ||||||||||||||||||||||||||||
Fixed Rate Bond, 8.00% cash due 2/15/2023 | 13,524 | 13,301 | 13,820 | (11) | |||||||||||||||||||||||||
13,301 | 13,820 | ||||||||||||||||||||||||||||
Alvotech Holdings S.A. | Biotechnology | (13) | |||||||||||||||||||||||||||
Fixed Rate Bond 15% PIK Note A due 12/13/2023 | 14,800 | 19,529 | 20,999 | (11)(20) | |||||||||||||||||||||||||
Fixed Rate Bond 15% PIK Note B due 12/13/2023 | 14,800 | 19,529 | 20,408 | (11)(20) | |||||||||||||||||||||||||
39,058 | 41,407 | ||||||||||||||||||||||||||||
Amplify Finco Pty Ltd. | Movies & Entertainment | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026 | 5.00 | % | 7,328 | 6,541 | 6,815 | (6)(11)(20) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.00% cash due 11/26/2027 | 8.75 | % | 12,500 | 12,188 | 10,313 | (6)(11)(20) | |||||||||||||||||||||||
18,729 | 17,128 | ||||||||||||||||||||||||||||
Ancile Solutions, Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 6/30/2021 | 8.00 | % | 7,995 | 7,977 | 7,987 | (6)(20) | |||||||||||||||||||||||
7,977 | 7,987 |
Portfolio Company/Type of Investment (1)(2)(5)(9)(14) | Cash Interest Rate (13) | Industry | Principal (8) | Cost | Fair Value | ||||||||||||
Affiliate Investments (4) | |||||||||||||||||
Caregiver Services, Inc. | Healthcare services | ||||||||||||||||
Second Lien Term Loan, 10% cash 2% PIK due 6/30/2019 | $ | 9,752 | $ | 9,751 | $ | 9,708 | |||||||||||
1,080,399 Shares of Series A Preferred Stock, 10% | 1,080 | 2,161 | |||||||||||||||
10,831 | 11,869 | ||||||||||||||||
AmBath/ReBath Holdings, Inc. | Home improvement retail | ||||||||||||||||
First Lien Term Loan B, 12.5% cash 2.5% PIK due 8/31/2018 | 22,552 | 22,566 | 22,552 | ||||||||||||||
4,668,788 Shares of Preferred Stock | — | 2,048 | |||||||||||||||
22,566 | 24,600 | ||||||||||||||||
Total Affiliate Investments (4.4% of net assets) | $ | 33,397 | $ | 36,469 | |||||||||||||
Non-Control/Non-Affiliate Investments (7) | |||||||||||||||||
Cenegenics, LLC | Healthcare services | ||||||||||||||||
First Lien Term Loan, 9.75% cash 2% PIK due 9/30/2019 (22) | 28,746 | $ | 27,738 | $ | 15,812 | ||||||||||||
First Lien Revolver, 15% cash due 9/30/2019 (22) | 2,203 | 2,203 | 1,085 | ||||||||||||||
452,914.87 Common Units in Cenegenics, LLC | 598 | — | |||||||||||||||
345,380.141 Preferred Units in Cenegenics, LLC | 300 | — | |||||||||||||||
30,839 | 16,897 | ||||||||||||||||
Riverlake Equity Partners II, LP | Multi-sector holdings | ||||||||||||||||
1.92% limited partnership interest (11)(25) | 871 | 588 | |||||||||||||||
871 | 588 | ||||||||||||||||
Riverside Fund IV, LP | Multi-sector holdings | ||||||||||||||||
0.34% limited partnership interest (11)(25) | 153 | 356 | |||||||||||||||
153 | 356 | ||||||||||||||||
Bunker Hill Capital II (QP), L.P. | Multi-sector holdings | ||||||||||||||||
0.51% limited partnership interest (11)(25) | 638 | 808 | |||||||||||||||
638 | 808 | ||||||||||||||||
Maverick Healthcare Group, LLC (20) | Healthcare equipment | ||||||||||||||||
First Lien Term Loan A, LIBOR+7.5% cash (1.75% floor) cash due 1/15/2018 (13)(22) | 9.25 | % | 16,558 | 16,204 | 12,415 | ||||||||||||
First Lien Term Loan B, LIBOR+11% cash (1.75% floor) cash due 1/15/2018 (13)(22) | 12.75 | % | 46,030 | 39,110 | — | ||||||||||||
CapEx Line, LIBOR+7.75% (1.75% floor) cash due 1/15/2018 (13)(22) | 10.25 | % | 1,272 | 1,261 | 1,121 | ||||||||||||
First Lien Revolver, PRIME+6.5% cash due 1/15/2018 (13)(22) | 10.75 | % | 56 | 41 | 50 | ||||||||||||
56,616 | 13,586 | ||||||||||||||||
Refac Optical Group | Specialty stores | ||||||||||||||||
First Lien Term Loan A, LIBOR+8% cash due 9/30/2018 (13) | 9.56 | % | 3,581 | 3,552 | 3,581 | ||||||||||||
First Lien Term Loan B, LIBOR+9% cash, 1.75% PIK due 9/30/2018 (13) | 10.56 | % | 34,701 | 34,617 | 34,665 | ||||||||||||
First Lien Term Loan C, 12.5% cash due 9/30/2018 | 3,416 | 3,416 | 3,346 | ||||||||||||||
First Lien Revolver, LIBOR+8% cash due 9/30/2018 (13) | 9.56 | % | 3,520 | 3,516 | 3,520 | ||||||||||||
1,550.9435 Shares of Common Stock in Refac Holdings, Inc. | 1 | — | |||||||||||||||
550.9435 Shares of Series A-2 Preferred Stock in Refac Holdings, Inc., 10% | 305 | — | |||||||||||||||
1,000 Shares of Series A Preferred Stock Units in Refac Holdings, Inc., 10% | 999 | 397 | |||||||||||||||
46,406 | 45,509 | ||||||||||||||||
Baird Capital Partners V, LP | Multi-sector holdings | ||||||||||||||||
0.4% limited partnership interest (11)(25) | 994 | 634 | |||||||||||||||
994 | 634 | ||||||||||||||||
Milestone Partners IV, L.P. | Multi-sector holdings | ||||||||||||||||
0.82% limited partnership interest (11)(25) | 1,030 | 1,716 | |||||||||||||||
1,030 | 1,716 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Apptio, Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.25% cash due 1/10/2025 | 8.25 | % | $ | 23,764 | $ | 23,441 | $ | 23,318 | (6)(20) | ||||||||||||||||||||
First Lien Revolver, LIBOR+7.25% cash due 1/10/2025 | — | (20) | (29) | (6)(19)(20) | |||||||||||||||||||||||||
23,421 | 23,289 | ||||||||||||||||||||||||||||
Ardonagh Midco 3 PLC | Insurance Brokers | ||||||||||||||||||||||||||||
First Lien Term Loan, EURIBOR+7.50% cash due 7/14/2026 | 8.50 | % | € | 1,440 | 1,596 | 1,746 | (6)(11)(20) | ||||||||||||||||||||||
First Lien Term Loan, UK LIBOR+5.4375% cash 2.0625% PIK due 7/14/2026 | 6.19 | % | £ | 11,303 | 13,773 | 15,311 | (6)(11)(20) | ||||||||||||||||||||||
First Lien Delayed Draw Term Loan, UK LIBOR+5.4375% cash 2.0625% PIK due 7/14/2026 | 6.19 | % | £ | 400 | 434 | 517 | (6)(11)(19)(20) | ||||||||||||||||||||||
Fixed Rate Bond, 11.50% cash due 1/15/2027 | $ | 1,111 | 1,100 | 1,192 | (11) | ||||||||||||||||||||||||
16,903 | 18,766 | ||||||||||||||||||||||||||||
Associated Asphalt Partners, LLC | Construction Materials | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.25% cash due 4/5/2024 | 6.25 | % | 2,546 | 2,174 | 2,182 | (6) | |||||||||||||||||||||||
2,174 | 2,182 | ||||||||||||||||||||||||||||
Asurion, LLC | Property & Casualty Insurance | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+6.50% cash due 8/4/2025 | 6.65 | % | 19,985 | 19,952 | 20,180 | (6) | |||||||||||||||||||||||
19,952 | 20,180 | ||||||||||||||||||||||||||||
Athenex, Inc. | Pharmaceuticals | ||||||||||||||||||||||||||||
First Lien Term Loan, 11.00% cash due 6/19/2026 | 34,169 | 32,875 | 34,108 | (11)(20) | |||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, 11.00% cash due 6/19/2026 | — | (237) | (31) | (11)(19)(20) | |||||||||||||||||||||||||
266,052 Common Stock Warrants (exercise price $12.63) expiration date 6/19/2027 | 915 | 860 | (11)(20) | ||||||||||||||||||||||||||
33,553 | 34,937 | ||||||||||||||||||||||||||||
Aurora Lux Finco S.À.R.L. | Airport Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.75% cash due 12/24/2026 | 6.75 | % | 22,828 | 22,341 | 21,275 | (6)(11)(20) | |||||||||||||||||||||||
22,341 | 21,275 | ||||||||||||||||||||||||||||
Blackhawk Network Holdings, Inc. | Data Processing & Outsourced Services | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.00% cash due 6/15/2026 | 7.19 | % | 26,250 | 26,058 | 24,019 | (6) | |||||||||||||||||||||||
26,058 | 24,019 | ||||||||||||||||||||||||||||
Boxer Parent Company Inc. | Systems Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 10/2/2025 | 4.40 | % | 10,284 | 10,195 | 10,262 | (6) | |||||||||||||||||||||||
10,195 | 10,262 | ||||||||||||||||||||||||||||
BX Commercial Mortgage Trust 2020-VIVA | Diversified Real Estate Activities | ||||||||||||||||||||||||||||
Class D Variable Notes due 3/9/2044 | 3.67 | % | 3,130 | 2,616 | 3,129 | (6)(11)(20) | |||||||||||||||||||||||
Class E Variable Notes due 3/9/2044 | 3.67 | % | 4,739 | 3,667 | 4,481 | (6)(11)(20) | |||||||||||||||||||||||
6,283 | 7,610 | ||||||||||||||||||||||||||||
California Pizza Kitchen, Inc. | Restaurants | ||||||||||||||||||||||||||||
Second Lien Term Loan, 1.00% cash / LIBOR+12.50% PIK due 5/23/2025 | 588 | 588 | 470 | (6)(15)(20) | |||||||||||||||||||||||||
36,188 Shares of Common Stock in CPK Parent, Inc. | 437 | 398 | (20) | ||||||||||||||||||||||||||
1,025 | 868 | ||||||||||||||||||||||||||||
Chief Power Finance II, LLC | Independent Power Producers & Energy Traders | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 12/31/2022 | 7.50 | % | 21,563 | 21,224 | 20,538 | (6)(20) | |||||||||||||||||||||||
21,224 | 20,538 | ||||||||||||||||||||||||||||
CITGO Holding, Inc. | Oil & Gas Refining & Marketing | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 8/1/2023 | 8.00 | % | 11,724 | 11,558 | 10,903 | (6) | |||||||||||||||||||||||
Fixed Rate Bond, 9.25% cash due 8/1/2024 | 10,672 | 10,672 | 9,845 | ||||||||||||||||||||||||||
22,230 | 20,748 | ||||||||||||||||||||||||||||
CITGO Petroleum Corp. | Oil & Gas Refining & Marketing | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.25% cash due 3/28/2024 | 7.25 | % | 8,957 | 8,867 | 8,925 | (6) | |||||||||||||||||||||||
8,867 | 8,925 |
Portfolio Company/Type of Investment (1)(2)(5)(9)(14) | Cash Interest Rate (13) | Industry | Principal (8) | Cost | Fair Value | ||||||||||||
RCPDirect, L.P. | Multi-sector holdings | ||||||||||||||||
0.9% limited partnership interest (11)(25) | $ | 295 | $ | 575 | |||||||||||||
295 | 575 | ||||||||||||||||
Riverside Fund V, L.P. | Multi-sector holdings | ||||||||||||||||
0.48% limited partnership interest (11)(25) | 1,452 | 1,481 | |||||||||||||||
1,452 | 1,481 | ||||||||||||||||
ACON Equity Partners III, LP | Multi-sector holdings | ||||||||||||||||
0.13% limited partnership interest (11)(25) | 785 | 837 | |||||||||||||||
785 | 837 | ||||||||||||||||
BMC Acquisition, Inc. | Other diversified financial services | ||||||||||||||||
500 Series A Preferred Shares, 8% | 500 | 774 | |||||||||||||||
50,000 Common Shares (6) | 1 | 59 | |||||||||||||||
501 | 833 | ||||||||||||||||
Edmentum, Inc. | Education services | ||||||||||||||||
Unsecured Senior PIK Note, 8.5% PIK due 6/9/2020 (23) | $ | 2,487 | 2,434 | — | |||||||||||||
Unsecured Junior PIK Note, 10% PIK due 6/9/2020 (23) | 11,593 | 10,227 | — | ||||||||||||||
Unsecured Revolver, 5% cash due 6/9/2020 (10)(22) | 1,731 | 1,720 | (400 | ) | |||||||||||||
126,127.80 Class A Common Units | 126 | — | |||||||||||||||
14,507 | (400 | ) | |||||||||||||||
I Drive Safely, LLC | Education services | ||||||||||||||||
125,079 Class A Common Units of IDS Investments, LLC | 1,000 | — | |||||||||||||||
1,000 | — | ||||||||||||||||
Yeti Acquisition, LLC | Leisure products | ||||||||||||||||
3,000,000 Common Stock Units of Yeti Holdings, Inc. | — | 5,900 | |||||||||||||||
— | 5,900 | ||||||||||||||||
Vitalyst Holdings, Inc. | IT consulting & other services | ||||||||||||||||
675 Series A Preferred Units of PCH Support Holdings, Inc., 10% | 675 | 521 | |||||||||||||||
7,500 Class A Common Stock Units of PCH Support Holdings, Inc. | 75 | — | |||||||||||||||
750 | 521 | ||||||||||||||||
Beecken Petty O'Keefe Fund IV, L.P. | Multi-sector holdings | ||||||||||||||||
0.5% limited partnership interest (11)(25) | 973 | 1,398 | |||||||||||||||
973 | 1,398 | ||||||||||||||||
Comprehensive Pharmacy Services LLC | Pharmaceuticals | ||||||||||||||||
20,000 Common Shares in MCP CPS Group Holdings, Inc. | 2,000 | 2,815 | |||||||||||||||
2,000 | 2,815 | ||||||||||||||||
Garretson Firm Resolution Group, Inc. | Diversified support services | ||||||||||||||||
First Lien Revolver, PRIME+5.5% cash due 5/22/2020 (13) | 9.75 | % | 711 | 711 | 666 | ||||||||||||
4,950,000 Preferred Units in GRG Holdings, LP, 8% | 495 | 196 | |||||||||||||||
50,000 Common Units in GRG Holdings, LP | 5 | — | |||||||||||||||
1,211 | 862 | ||||||||||||||||
Teaching Strategies, LLC | Education services | ||||||||||||||||
Second Lien Term Loan, LIBOR+9.5% (1% floor) cash due 8/27/2023 (13) | 11.19 | % | 33,500 | 33,500 | 34,119 | ||||||||||||
33,500 | 34,119 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Continental Intermodal Group LP | Oil & Gas Storage & Transportation | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+9.50% PIK due 1/28/2025 | $ | 25,411 | $ | 25,411 | $ | 20,710 | (6)(20) | ||||||||||||||||||||||
Common Stock Warrants expiration date 7/28/2025 | — | 1,672 | (20) | ||||||||||||||||||||||||||
25,411 | 22,382 | ||||||||||||||||||||||||||||
Convergeone Holdings, Inc. | IT Consulting & Other Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 1/4/2026 | 5.15 | % | 14,584 | 14,155 | 13,819 | (6) | |||||||||||||||||||||||
14,155 | 13,819 | ||||||||||||||||||||||||||||
Conviva Inc. | Application Software | ||||||||||||||||||||||||||||
417,851 Series D Preferred Stock Warrants (exercise price $1.1966) expiration date 2/28/2021 | 105 | 395 | (20) | ||||||||||||||||||||||||||
105 | 395 | ||||||||||||||||||||||||||||
Corrona, LLC | Health Care Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 12/13/2025 | 6.50 | % | 10,274 | 10,126 | 10,134 | (6)(20) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 12/13/2025 | 6.50 | % | 1,221 | 1,178 | 1,171 | (6)(19)(20) | |||||||||||||||||||||||
First Lien Revolver, PRIME+4.50% cash due 12/13/2025 | 7.75 | % | 305 | 279 | 280 | (6)(19)(20) | |||||||||||||||||||||||
1,099 Class A2 Common Units in Corrona Group Holdings, L.P. | 1,038 | 1,038 | (20) | ||||||||||||||||||||||||||
12,621 | 12,623 | ||||||||||||||||||||||||||||
Coyote Buyer, LLC | Specialty Chemicals | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 2/6/2026 | 7.00 | % | 13,090 | 12,959 | 12,959 | (6)(20) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+6.00% cash due 2/6/2025 | — | (9) | (9) | (6)(19)(20) | |||||||||||||||||||||||||
12,950 | 12,950 | ||||||||||||||||||||||||||||
CTOS, LLC | Trading Companies & Distributors | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 4/18/2025 | 4.40 | % | 5,684 | 5,718 | 5,698 | (6) | |||||||||||||||||||||||
5,718 | 5,698 | ||||||||||||||||||||||||||||
Curium Bidco S.à.r.l. | Biotechnology | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.75% cash due 10/27/2028 | 8.50 | % | 16,787 | 16,535 | 16,829 | (6)(11)(20) | |||||||||||||||||||||||
16,535 | 16,829 | ||||||||||||||||||||||||||||
Delta Topco, Inc. | Systems Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.25% cash due 12/1/2028 | 8.00 | % | 6,680 | 6,647 | 6,755 | (6) | |||||||||||||||||||||||
6,647 | 6,755 | ||||||||||||||||||||||||||||
Eagleview Technology Corporation | Application Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.50% cash due 8/14/2026 | 8.50 | % | 12,000 | 11,880 | 10,860 | (6)(20) | |||||||||||||||||||||||
11,880 | 10,860 | ||||||||||||||||||||||||||||
EHR Canada, LLC | Food Retail | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.00% cash due 1/31/2021 | 9.00 | % | 6,861 | 6,857 | 6,998 | (6)(20) | |||||||||||||||||||||||
6,857 | 6,998 | ||||||||||||||||||||||||||||
EOS Fitness Opco Holdings, LLC | Leisure Facilities | ||||||||||||||||||||||||||||
487.5 Class A Preferred Units, 12% | 488 | 49 | (20) | ||||||||||||||||||||||||||
12,500 Class B Common Units | — | — | (20) | ||||||||||||||||||||||||||
488 | 49 | ||||||||||||||||||||||||||||
FFI Holdings I Corp | Industrial Machinery | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.25% cash due 1/24/2025 | 7.25 | % | 4,132 | 3,722 | 3,719 | (6)(20) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+6.25% cash due 1/24/2025 | — | — | — | (6)(19)(20) | |||||||||||||||||||||||||
3,722 | 3,719 |
Portfolio Company/Type of Investment (1)(2)(5)(9)(14) | Cash Interest Rate (13) | Industry | Principal (8) | Cost | Fair Value | ||||||||||||
Dominion Diagnostics, LLC | Healthcare services | ||||||||||||||||
Subordinated Term Loan, 11% cash 1% PIK due 10/8/2019 (22) | $ | 19,900 | $ | 17,262 | $ | 1,035 | |||||||||||
First Lien Term Loan, LIBOR+5% (1% floor) cash due 4/8/2019 (13) | �� | 6.35 | % | 48,669 | 36,830 | 36,877 | |||||||||||
First Lien Revolver, LIBOR+5% (1% floor) cash due 4/8/2019 (10)(13) | 6.35 | % | — | (1,013 | ) | ||||||||||||
54,092 | 36,899 | ||||||||||||||||
Sterling Capital Partners IV, L.P. | Multi-sector holdings | ||||||||||||||||
0.2% limited partnership interest (11)(25) | 1,640 | 1,188 | |||||||||||||||
1,640 | 1,188 | ||||||||||||||||
Advanced Pain Management | Healthcare services | ||||||||||||||||
First Lien Term Loan, LIBOR+8.5% (1.25% floor) cash due 2/26/2018 (13)(22) | 10.07 | % | 24,000 | 22,994 | — | ||||||||||||
22,994 | — | ||||||||||||||||
TravelClick, Inc. | Internet software & services | ||||||||||||||||
Second Lien Term Loan, LIBOR+7.75% (1% floor) cash due 11/6/2021 (13)(21) | 9.32 | % | 2,697 | 2,482 | 2,710 | ||||||||||||
2,482 | 2,710 | ||||||||||||||||
Pingora MSR Opportunity Fund I-A, LP | Thrift & mortgage finance | ||||||||||||||||
1.86% limited partnership interest (11)(25) | 6,905 | 5,629 | |||||||||||||||
6,905 | 5,629 | ||||||||||||||||
Credit Infonet, Inc. | Data processing & outsourced services | ||||||||||||||||
Subordinated Term Loan, 12.25% cash 0.75% PIK due 10/26/2020 | 13,940 | 13,940 | 14,024 | ||||||||||||||
13,940 | 14,024 | ||||||||||||||||
HealthEdge Software, Inc. | Application software | ||||||||||||||||
482,453 Series A-3 Preferred Stock Warrants (exercise price $1.450918) expiration date 9/30/2023 | 213 | 772 | |||||||||||||||
213 | 772 | ||||||||||||||||
InMotion Entertainment Group, LLC | Consumer electronics | ||||||||||||||||
First Lien Term Loan A, LIBOR+7.25% (1.25% floor) cash due 10/1/2021 (13) | 8.95 | % | 12,086 | 12,042 | 12,086 | ||||||||||||
First Lien Term Loan B, LIBOR+7.25% (1.25% floor) cash due 10/1/2021 (13) | 8.95 | % | 5,268 | 5,170 | 5,268 | ||||||||||||
First Lien Revolver, LIBOR+6.75% (1.25% floor) cash due 10/1/2018 (13) | 8.45 | % | 5,904 | 5,897 | 5,904 | ||||||||||||
CapEx Line, LIBOR+7.75% (1.25% floor) cash due 10/1/2018 (13) | 9.45 | % | 787 | 779 | 787 | ||||||||||||
1,000,000 Class A Units in InMotion Entertainment Holdings, LLC | 1,000 | 1,855 | |||||||||||||||
24,888 | 25,900 | ||||||||||||||||
Thing5, LLC | Data processing & outsourced services | ||||||||||||||||
First Lien Term Loan, LIBOR+7.5% (1% floor) cash 2% PIK due 10/11/2020 (12)(13) | 9.19 | % | 47,575 | 47,575 | 40,561 | ||||||||||||
First Lien Revolver, LIBOR+7.5% (1% floor) cash due 10/11/2020 (13) | 9.19 | % | 4,000 | 4,000 | 4,000 | ||||||||||||
2,000,000 Units in T5 Investment Vehicle, LLC | 2,000 | — | |||||||||||||||
53,575 | 44,561 | ||||||||||||||||
Kason Corporation | Industrial machinery | ||||||||||||||||
Mezzanine Term Loan, 11.5% cash 1.75% PIK due 10/28/2019 | 6,032 | 6,032 | 5,877 | ||||||||||||||
498.6 Class A Preferred Units in Kason Investment, LLC, 8% | 499 | 588 | |||||||||||||||
5,540 Class A Common Units in Kason Investment, LLC | 55 | — | |||||||||||||||
6,586 | 6,465 | ||||||||||||||||
SPC Partners V, L.P. | Multi-sector holdings | ||||||||||||||||
0.571% limited partnership interest (11)(25) | 1,772 | 1,929 | |||||||||||||||
1,772 | 1,929 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Fortress Biotech, Inc. | Biotechnology | ||||||||||||||||||||||||||||
First Lien Term Loan, 11.00% cash due 8/27/2025 | $ | 8,346 | $ | 7,874 | $ | 8,054 | (11)(20) | ||||||||||||||||||||||
243,348 Common Stock Warrants (exercise price $3.20) expiration date 8/27/2030 | 258 | 260 | (11)(20) | ||||||||||||||||||||||||||
8,132 | 8,314 | ||||||||||||||||||||||||||||
GI Chill Acquisition LLC | Managed Health Care | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.00% cash due 8/6/2025 | 4.25 | % | 17,595 | 17,507 | 17,441 | (6)(20) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.50% cash due 8/6/2026 | 7.75 | % | 10,000 | 9,930 | 9,700 | (6)(20) | |||||||||||||||||||||||
27,437 | 27,141 | ||||||||||||||||||||||||||||
GKD Index Partners, LLC | Specialized Finance | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 6/29/2023 | 8.00 | % | 19,705 | 19,608 | 19,390 | (6)(20) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+7.00% cash due 6/29/2023 | 8.00 | % | 924 | 916 | 906 | (6)(19)(20) | |||||||||||||||||||||||
20,524 | 20,296 | ||||||||||||||||||||||||||||
Global Medical Response | Health Care Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 3/14/2025 | 5.25 | % | 6,240 | 6,142 | 6,193 | (6) | |||||||||||||||||||||||
6,142 | 6,193 | ||||||||||||||||||||||||||||
Guidehouse LLP | Research & Consulting Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 5/1/2025 | 4.65 | % | 4,937 | 4,897 | 4,945 | (6) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.00% cash due 5/1/2026 | 8.15 | % | 20,000 | 19,933 | 20,000 | (6)(20) | |||||||||||||||||||||||
24,830 | 24,945 | ||||||||||||||||||||||||||||
Gulf Operating, LLC | Oil & Gas Storage & Transportation | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.25% cash due 8/25/2023 | 6.25 | % | 2,035 | 1,258 | 1,553 | (6) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+4.00% cash due 12/27/2021 | — | (704) | (704) | (6)(19)(20) | |||||||||||||||||||||||||
554 | 849 | ||||||||||||||||||||||||||||
Houghton Mifflin Harcourt Publishers Inc. | Education Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.25% cash due 11/22/2024 | 7.25 | % | 6,650 | 6,438 | 6,428 | (6)(11) | |||||||||||||||||||||||
6,438 | 6,428 | ||||||||||||||||||||||||||||
I Drive Safely, LLC | Education Services | ||||||||||||||||||||||||||||
125,079 Class A Common Units of IDS Investments, LLC | 1,000 | 225 | (20) | ||||||||||||||||||||||||||
1,000 | 225 | ||||||||||||||||||||||||||||
IBG Borrower LLC | Apparel, Accessories & Luxury Goods | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 8/2/2022 | 7.31 | % | 7,768 | 7,409 | 6,753 | (6)(20) | |||||||||||||||||||||||
7,409 | 6,753 | ||||||||||||||||||||||||||||
iCIMs, Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 9/12/2024 | 7.50 | % | 19,171 | 18,913 | 19,029 | (6)(20) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+6.50% cash due 9/12/2024 | 7.50 | % | 882 | 869 | 876 | (6)(20) | |||||||||||||||||||||||
19,782 | 19,905 | ||||||||||||||||||||||||||||
Immucor, Inc. | Health Care Supplies | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.75% cash due 7/2/2025 | 6.75 | % | 6,461 | 6,345 | 6,331 | (6)(20) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+5.75% cash due 7/2/2025 | — | (10) | (11) | (6)(19)(20) | |||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.00% cash 3.50% PIK due 10/2/2025 | 9.00 | % | 15,750 | 15,471 | 15,435 | (6)(20) | |||||||||||||||||||||||
21,806 | 21,755 | ||||||||||||||||||||||||||||
Integral Development Corporation | Other Diversified Financial Services | ||||||||||||||||||||||||||||
1,078,284 Common Stock Warrants (exercise price $0.9274) expiration date 7/10/2024 | 113 | — | (20) | ||||||||||||||||||||||||||
113 | — |
Portfolio Company/Type of Investment (1)(2)(5)(9)(14) | Cash Interest Rate (13) | Industry | Principal (8) | Cost | Fair Value | ||||||||||||
P2 Upstream Acquisition Co. | Application software | ||||||||||||||||
First Lien Revolver, LIBOR+4% (1% floor) cash due 11/1/2018 (10)(13)(21) | 5.69 | % | $ | — | $ | (200 | ) | ||||||||||
— | (200 | ) | |||||||||||||||
OmniSYS Acquisition Corporation | Diversified support services | ||||||||||||||||
First Lien Term Loan, LIBOR+7.5% (1% floor) cash due 11/21/2018 (13) | 9.19 | % | $ | 5,500 | 5,498 | 5,488 | |||||||||||
First Lien Revolver, LIBOR+7.5% (1% floor) cash due 11/21/2018 (10)(13) | 9.19 | % | — | (5 | ) | ||||||||||||
100,000 Common Units in OSYS Holdings, LLC | 1,000 | 898 | |||||||||||||||
6,498 | 6,381 | ||||||||||||||||
Moelis Capital Partners Opportunity Fund I-B, LP | Multi-sector holdings | ||||||||||||||||
1.0% limited partnership interest (11)(25) | 1,045 | 1,420 | |||||||||||||||
1,045 | 1,420 | ||||||||||||||||
Aden & Anais Merger Sub, Inc. | Apparel, accessories & luxury goods | ||||||||||||||||
51,645 Common Units in Aden & Anais Holdings, Inc. | 5,165 | — | |||||||||||||||
5,165 | — | ||||||||||||||||
Lift Brands, Inc. | Leisure facilities | ||||||||||||||||
First Lien Term Loan, LIBOR+7.5% (1% floor) cash due 12/23/2019 (13) | 9.19 | % | 21,222 | 21,211 | 21,222 | ||||||||||||
First Lien Revolver, LIBOR+7.5% (1% floor) cash due 12/23/2019 (10)(13) | 9.19 | % | (3 | ) | — | ||||||||||||
2,000,000 Class A Common Units in Snap Investments, LLC | 2,004 | 2,878 | |||||||||||||||
23,212 | 24,100 | ||||||||||||||||
Tailwind Capital Partners II, L.P. | Multi-sector holdings | ||||||||||||||||
0.3% limited partnership interest (11)(25) | 1,588 | 1,894 | |||||||||||||||
1,588 | 1,894 | ||||||||||||||||
Long's Drugs Incorporated | Pharmaceuticals | ||||||||||||||||
Second Lien Term Loan, LIBOR+11.25% cash due 2/19/2022 (13) | 12.63 | % | 26,909 | 26,909 | 27,447 | ||||||||||||
50 Series A Preferred Shares in Long's Drugs Incorporated | 500 | 799 | |||||||||||||||
25 Series B Preferred Shares in Long's Drugs Incorporated | 313 | 472 | |||||||||||||||
27,722 | 28,718 | ||||||||||||||||
Conviva Inc. | Application software | ||||||||||||||||
417,851 Series D Preferred Stock Warrants (exercise price $1.1966) expiration date 2/28/2021 | 105 | 223 | |||||||||||||||
105 | 223 | ||||||||||||||||
OnCourse Learning Corporation | Education services | ||||||||||||||||
264,312 Class A Units in CIP OCL Investments, LLC | 2,726 | 1,878 | |||||||||||||||
2,726 | 1,878 | ||||||||||||||||
ShareThis, Inc. | Internet software & services | ||||||||||||||||
345,452 Series C Preferred Stock Warrants (exercise price $3.0395) expiration date 3/4/2024 | 367 | 3 | |||||||||||||||
367 | 3 | ||||||||||||||||
ExamSoft Worldwide, Inc. | Internet software & services | ||||||||||||||||
180,707 Class C Units in ExamSoft Investor LLC | 181 | 129 | |||||||||||||||
181 | 129 | ||||||||||||||||
RCPDirect II, LP | Multi-sector holdings | ||||||||||||||||
0.4% limited partnership interest (11)(25) | 617 | 777 | |||||||||||||||
617 | 777 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Ivanti Software, Inc. | Application Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.50% cash due 12/1/2028 | 9.50 | % | $ | 17,346 | $ | 16,826 | $ | 17,281 | (6)(20) | ||||||||||||||||||||
16,826 | 17,281 | ||||||||||||||||||||||||||||
Jazz Acquisition, Inc. | Aerospace & Defense | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.50% cash due 1/29/2027 | 8.50 | % | 16,871 | 16,222 | 16,179 | (6)(20) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+7.50% cash due 1/29/2027 | — | — | — | (6)(19)(20) | |||||||||||||||||||||||||
16,222 | 16,179 | ||||||||||||||||||||||||||||
L Squared Capital Partners LLC | Multi-Sector Holdings | ||||||||||||||||||||||||||||
2.00% limited partnership interest | — | 1,251 | (11)(16) | ||||||||||||||||||||||||||
— | 1,251 | ||||||||||||||||||||||||||||
Lanai Holdings III, Inc. | Health Care Distributors | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.75% cash due 8/29/2022 | 5.75 | % | 12,914 | 12,795 | 12,511 | (6) | |||||||||||||||||||||||
12,795 | 12,511 | ||||||||||||||||||||||||||||
Latam Airlines Group S.A. | Airlines | ||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+11.00% PIK due 3/29/2022 | 8,177 | 7,903 | 8,449 | (6)(11)(19)(20) | |||||||||||||||||||||||||
7,903 | 8,449 | ||||||||||||||||||||||||||||
Lift Brands Holdings, Inc. | Leisure Facilities | ||||||||||||||||||||||||||||
2,000,000 Class A Common Units in Snap Investments, LLC | 1,399 | — | (20) | ||||||||||||||||||||||||||
1,399 | — | ||||||||||||||||||||||||||||
Lightbox Intermediate, L.P. | Real Estate Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 5/9/2026 | 5.15 | % | 39,400 | 38,946 | 38,218 | (6)(20) | |||||||||||||||||||||||
38,946 | 38,218 | ||||||||||||||||||||||||||||
LogMeIn, Inc. | Application Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+9.00% cash due 8/31/2028 | 9.15 | % | 9,293 | 8,846 | 9,270 | (6) | |||||||||||||||||||||||
8,846 | 9,270 | ||||||||||||||||||||||||||||
LTI Holdings, Inc. | Electronic Components | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.75% cash due 7/24/2026 | 4.90 | % | 1,790 | 1,522 | 1,779 | (6) | |||||||||||||||||||||||
First Lien Term Loan, LIBOR+3.50% cash due 9/6/2025 | 3.65 | % | 18,036 | 15,206 | 17,567 | (6) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+6.75% cash due 9/6/2026 | 6.90 | % | 10,140 | 10,072 | 9,861 | (6) | |||||||||||||||||||||||
26,800 | 29,207 | ||||||||||||||||||||||||||||
Mayfield Agency Borrower Inc. | Property & Casualty Insurance | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 2/28/2025 | 4.65 | % | 28,749 | 28,019 | 27,887 | (6) | |||||||||||||||||||||||
28,019 | 27,887 | ||||||||||||||||||||||||||||
MHE Intermediate Holdings, LLC | Diversified Support Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 3/8/2024 | 6.00 | % | 2,903 | 2,882 | 2,826 | (6)(20) | |||||||||||||||||||||||
2,882 | 2,826 | ||||||||||||||||||||||||||||
Mindbody, Inc. | Internet Services & Infrastructure | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash 1.5% PIK due 2/14/2025 | 8.00 | % | 29,208 | 28,811 | 26,760 | (6)(20) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+8.00% cash due 2/14/2025 | — | (42) | (255) | (6)(19)(20) | |||||||||||||||||||||||||
28,769 | 26,505 |
Portfolio Company/Type of Investment (1)(2)(5)(9)(14) | Cash Interest Rate (13) | Industry | Principal (8) | Cost | Fair Value | ||||||||||||
Integral Development Corporation | Other diversified financial services | ||||||||||||||||
First Lien Term Loan, LIBOR+9.5% (1% floor) cash due 7/10/2019 (13) | 10.84 | % | $ | 10,750 | $ | 10,720 | $ | 10,118 | |||||||||
1,078,284 Common Stock Warrants (exercise price $0.9274) expiration date 7/10/2024 | 113 | — | |||||||||||||||
10,833 | 10,118 | ||||||||||||||||
Loftware, Inc. | Internet software & services | ||||||||||||||||
Mezzanine Term Loan, 11% cash 1% PIK due 7/18/2020 | 6,214 | 6,214 | 6,216 | ||||||||||||||
300,000 Class A Common Units in RPLF Holdings, LLC | 300 | 223 | |||||||||||||||
6,514 | 6,439 | ||||||||||||||||
Webster Capital III, L.P. | Multi-sector holdings | ||||||||||||||||
0.754% limited partnership interest (11)(25) | 1,274 | 1,578 | |||||||||||||||
1,274 | 1,578 | ||||||||||||||||
L Squared Capital Partners LLC | Multi-sector holdings | ||||||||||||||||
2% limited partnership interest (11)(25) | 2,660 | 2,677 | |||||||||||||||
2,660 | 2,677 | ||||||||||||||||
BeyondTrust Software, Inc. | Application software | ||||||||||||||||
4,500,000 Class A membership interests in BeyondTrust Holdings LLC | 4,500 | 5,779 | |||||||||||||||
4,500 | 5,779 | ||||||||||||||||
GOBP Holdings Inc. | Food retail | ||||||||||||||||
Second Lien Term Loan, LIBOR+8.25% (1% floor) cash due 10/21/2022 (13)(21) | 9.94 | % | 4,214 | 4,177 | 4,231 | ||||||||||||
4,177 | 4,231 | ||||||||||||||||
Kellermeyer Bergensons Services, LLC | Diversified support services | ||||||||||||||||
Second Lien Term Loan, LIBOR+8.50% (1% floor) cash due 4/29/2022 (13) | 9.88 | % | 6,105 | 5,911 | 5,914 | ||||||||||||
5,911 | 5,914 | ||||||||||||||||
Dodge Data & Analytics LLC | Data processing & outsourced services | ||||||||||||||||
First Lien Term Loan, LIBOR+8.75% (1% floor) cash due 10/31/2019 (13) | 10.13 | % | 7,238 | 7,238 | 7,173 | ||||||||||||
500,000 Class A Common Units in Skyline Data, News and Analytics LLC | 500 | 242 | |||||||||||||||
7,738 | 7,415 | ||||||||||||||||
Metamorph US 3, LLC | Internet software & services | ||||||||||||||||
First Lien Term Loan, LIBOR+5.5% (1% floor) cash 2% PIK due 12/1/2020 (13)(22) | 7.07 | % | 9,942 | 9,306 | 3,804 | ||||||||||||
First Lien Revolver, LIBOR+6.5% (1% floor) cash due 12/1/2020 (10)(13)(22) | 8.07 | % | 2,205 | 2,156 | (75 | ) | |||||||||||
11,462 | 3,729 | ||||||||||||||||
Janrain, Inc. | Internet software & services | ||||||||||||||||
218,008 Common Stock Warrants (exercise price $1.3761) expiration date 12/5/2024 | 45 | — | |||||||||||||||
45 | — | ||||||||||||||||
TigerText, Inc. | Internet software & services | ||||||||||||||||
299,110 Series B Preferred Stock Warrants (exercise price $1.3373) expiration date 12/8/2024 | 60 | 426 | |||||||||||||||
60 | 426 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Ministry Brands, LLC | Application Software | ||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.00% cash due 12/2/2022 | $ | — | $ | (9) | $ | (9) | (6)(19)(20) | ||||||||||||||||||||||
Second Lien Term Loan, LIBOR+9.25% cash due 6/2/2023 | 10.25 | % | 9,000 | 8,940 | 8,923 | (6)(20) | |||||||||||||||||||||||
8,931 | 8,914 | ||||||||||||||||||||||||||||
MRI Software LLC | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026 | 6.50 | % | 15,097 | 14,970 | 15,059 | (6)(20) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 2/10/2026 | — | (57) | (13) | (6)(19)(20) | |||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.50% cash due 2/10/2026 | — | (13) | (3) | (6)(19)(20) | |||||||||||||||||||||||||
14,900 | 15,043 | ||||||||||||||||||||||||||||
Navisite, LLC | Data Processing & Outsourced Services | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.50% cash due 12/30/2026 | 9.50 | % | 22,560 | 22,110 | 22,109 | (6)(20) | |||||||||||||||||||||||
22,110 | 22,109 | ||||||||||||||||||||||||||||
NeuAG, LLC | Fertilizers & Agricultural Chemicals | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash 7.00% PIK due 9/11/2024 | 7.00 | % | 35,938 | 34,642 | 34,716 | (6)(20) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash 7.00% PIK due 9/11/2024 | — | (175) | (149) | (6)(19)(20) | |||||||||||||||||||||||||
34,467 | 34,567 | ||||||||||||||||||||||||||||
NuStar Logistics, L.P. | Oil & Gas Refining & Marketing | ||||||||||||||||||||||||||||
Unsecured Delayed Draw Term Loan, 12.00% cash due 4/19/2023 | — | — | — | (19)(20) | |||||||||||||||||||||||||
— | — | ||||||||||||||||||||||||||||
Olaplex, Inc. | Personal Products | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 1/8/2026 | 7.50 | % | 41,939 | 41,286 | 41,939 | (6)(20) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+6.50% cash due 1/8/2025 | — | (61) | — | (6)(19)(20) | |||||||||||||||||||||||||
41,225 | 41,939 | ||||||||||||||||||||||||||||
OmniSYS Acquisition Corporation | Diversified Support Services | ||||||||||||||||||||||||||||
100,000 Common Units in OSYS Holdings, LLC | 1,000 | 607 | (20) | ||||||||||||||||||||||||||
1,000 | 607 | ||||||||||||||||||||||||||||
Onvoy, LLC | Integrated Telecommunication Services | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+10.50% cash due 2/10/2025 | 11.50 | % | 16,750 | 16,750 | 15,745 | (6)(20) | |||||||||||||||||||||||
19,666.67 Class A Units in GTCR Onvoy Holdings, LLC | 1,967 | 785 | (20) | ||||||||||||||||||||||||||
13,664.73 Series 3 Class B Units in GTCR Onvoy Holdings, LLC | — | — | (20) | ||||||||||||||||||||||||||
18,717 | 16,530 | ||||||||||||||||||||||||||||
OZLM Funding III, Ltd. | Multi-Sector Holdings | ||||||||||||||||||||||||||||
Class DR Notes, LIBOR+7.77% cash due 1/22/2029 | 7.99 | % | 2,312 | 1,666 | 2,288 | (6)(11) | |||||||||||||||||||||||
1,666 | 2,288 | ||||||||||||||||||||||||||||
P & L Development, LLC | Pharmaceuticals | ||||||||||||||||||||||||||||
Fixed Rate Bond, 7.75% cash due 11/15/2025 | 9,123 | 9,123 | 9,830 | ||||||||||||||||||||||||||
9,123 | 9,830 | ||||||||||||||||||||||||||||
Park Place Technologies, LLC | Internet Services & Infrastructure | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 11/10/2027 | 6.00 | % | 5,000 | 4,804 | 4,817 | (6) | |||||||||||||||||||||||
4,804 | 4,817 |
Portfolio Company/Type of Investment (1)(2)(5)(9)(14) | Cash Interest Rate (13) | Industry | Principal (8) | Cost | Fair Value | ||||||||||||
EOS Fitness Opco Holdings, LLC | Leisure facilities | ||||||||||||||||
First Lien Term Loan, LIBOR+8.75% (0.75% floor) cash due 12/30/2019 (13) | 10.12 | % | $ | 3,650 | $ | 3,650 | $ | 3,687 | |||||||||
First Lien Revolver, LIBOR+8.75% (0.75% floor) cash due 12/30/2019 (13) | 10.12 | % | — | 50 | |||||||||||||
487.5 Class A Preferred Units, 12% | 488 | 695 | |||||||||||||||
12,500 Class B Common Units | 13 | 567 | |||||||||||||||
4,151 | 4,999 | ||||||||||||||||
Motion Recruitment Partners LLC | Human resources & employment services | ||||||||||||||||
First Lien Revolver, LIBOR+6% (1% floor) cash due 2/13/2020 (10)(13) | 7.69 | % | (6 | ) | 3 | ||||||||||||
(6 | ) | 3 | |||||||||||||||
WeddingWire, Inc. | Internet software & services | ||||||||||||||||
First Lien Term Loan, LIBOR+8.5% (1% floor) cash due 2/20/2020 (13) | 10.20 | % | 25,438 | 25,438 | 25,565 | ||||||||||||
First Lien Revolver, LIBOR+8.5% (1% floor) cash due 2/20/2020 (13) | 10.20 | % | — | 15 | |||||||||||||
483,645 Common Shares of WeddingWire, Inc. | 1,200 | 1,655 | |||||||||||||||
26,638 | 27,235 | ||||||||||||||||
xMatters, Inc. | Internet software & services | ||||||||||||||||
600,000 Common Stock Warrants (exercise price $0.593333) expiration date 2/26/2025 | 709 | 372 | |||||||||||||||
709 | 372 | ||||||||||||||||
Edge Fitness, LLC | Leisure facilities | ||||||||||||||||
Delayed Draw Term Loan, LIBOR+7.75% (1% floor) cash due 6/30/2020 (13) | 9.09 | % | 5,535 | 5,535 | 5,535 | ||||||||||||
5,535 | 5,535 | ||||||||||||||||
Golden State Medical Supply, Inc. | Pharmaceuticals | ||||||||||||||||
Mezzanine Term Loan, 10% cash 2.5% PIK due 4/24/2021 | 15,001 | 15,001 | 14,932 | ||||||||||||||
15,001 | 14,932 | ||||||||||||||||
AirStrip Technologies, Inc. | Internet software & services | ||||||||||||||||
22,858.71 Series C-1 Preferred Stock Warrants (exercise price $34.99757) expiration date 5/11/2025 | 90 | — | |||||||||||||||
90 | — | ||||||||||||||||
Access Medical Acquisition, Inc. | Healthcare services | ||||||||||||||||
450,000 Shares of Class A Common Stock in CMG Holding Company, LLC (6) | 151 | 970 | |||||||||||||||
151 | 970 | ||||||||||||||||
QuorumLabs, Inc. | Internet software & services | ||||||||||||||||
2,727,939 Common Stock Warrants (exercise price $0.0001) expiration date 7/8/2025 | 375 | — | |||||||||||||||
375 | — | ||||||||||||||||
Valet Merger Sub, Inc. | Environmental & facilities services | ||||||||||||||||
First Lien Term Loan, LIBOR+7% (1% floor) cash due 9/24/2021 (13) | 8.57 | % | 50,532 | 49,935 | 50,531 | ||||||||||||
First Lien Revolver, LIBOR+7% (1% floor) cash due 9/24/2021 (10)(13) | 8.57 | % | (115 | ) | — | ||||||||||||
49,820 | 50,531 | ||||||||||||||||
Argon Medical Devices, Inc. | Healthcare equipment | ||||||||||||||||
Second Lien Term Loan, LIBOR+9.5% (1% floor) cash due 6/23/2022 (13) | 11.07 | % | 43,000 | 43,000 | 43,000 | ||||||||||||
43,000 | 43,000 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
PaySimple, Inc. | Data Processing & Outsourced Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 8/23/2025 | 5.65 | % | $ | 49,410 | $ | 48,631 | $ | 48,422 | (6)(20) | ||||||||||||||||||||
48,631 | 48,422 | ||||||||||||||||||||||||||||
Pingora MSR Opportunity Fund I-A, LP | Thrifts & Mortgage Finance | ||||||||||||||||||||||||||||
1.86% limited partnership interest | 752 | 113 | (11)(16)(19) | ||||||||||||||||||||||||||
752 | 113 | ||||||||||||||||||||||||||||
Planview Parent, Inc. | Application Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.25% cash due 12/18/2028 | 8.00 | % | 21,484 | 21,162 | 21,484 | (6)(20) | |||||||||||||||||||||||
21,162 | 21,484 | ||||||||||||||||||||||||||||
ProFrac Services, LLC | Industrial Machinery | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.50% cash due 9/15/2023 | 8.75 | % | 15,007 | 14,925 | 11,818 | (6)(20) | |||||||||||||||||||||||
14,925 | 11,818 | ||||||||||||||||||||||||||||
Project Boost Purchaser, LLC | Application Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.00% cash due 5/9/2027 | 8.15 | % | 3,750 | 3,750 | 3,675 | (6)(20) | |||||||||||||||||||||||
3,750 | 3,675 | ||||||||||||||||||||||||||||
Pug LLC | Internet & Direct Marketing Retail | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.00% cash due 2/12/2027 | 8.75 | % | 15,701 | 14,803 | 16,015 | (6) | |||||||||||||||||||||||
14,803 | 16,015 | ||||||||||||||||||||||||||||
QuorumLabs, Inc. | Application Software | ||||||||||||||||||||||||||||
64,887,669 Junior-2 Preferred Stock | 375 | — | (20) | ||||||||||||||||||||||||||
375 | — | ||||||||||||||||||||||||||||
Refac Optical Group | Specialty Stores | ||||||||||||||||||||||||||||
1,550.9435 Shares of Common Stock in Refac Holdings, Inc. | 1 | — | (20) | ||||||||||||||||||||||||||
550.9435 Series A-2 Preferred Stock in Refac Holdings, Inc., 10% | 305 | — | (20) | ||||||||||||||||||||||||||
1,000 Series A-1 Preferred Stock in Refac Holdings, Inc., 10% | 999 | — | (20) | ||||||||||||||||||||||||||
1,305 | — | ||||||||||||||||||||||||||||
Salient CRGT, Inc. | Aerospace & Defense | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 2/28/2022 | 7.50 | % | 2,911 | 2,898 | 2,802 | (6)(20) | |||||||||||||||||||||||
2,898 | 2,802 | ||||||||||||||||||||||||||||
Scilex Pharmaceuticals Inc. | Pharmaceuticals | ||||||||||||||||||||||||||||
Fixed Rate Zero Coupon Bond due 8/15/2026 | 12,277 | 9,738 | 10,312 | (20) | |||||||||||||||||||||||||
9,738 | 10,312 | ||||||||||||||||||||||||||||
ShareThis, Inc. | Application Software | ||||||||||||||||||||||||||||
345,452 Series C Preferred Stock Warrants (exercise price $3.0395) expiration date 3/4/2024 | 367 | — | (20) | ||||||||||||||||||||||||||
367 | — | ||||||||||||||||||||||||||||
Sorrento Therapeutics, Inc. | Biotechnology | ||||||||||||||||||||||||||||
125,000 Common Stock Warrants (exercise price $3.94) expiration date 11/3/2029 | — | 625 | (11)(20) | ||||||||||||||||||||||||||
— | 625 | ||||||||||||||||||||||||||||
Supermoose Borrower, LLC | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025 | 4.00 | % | 10,170 | 8,969 | 9,540 | (6) | |||||||||||||||||||||||
8,969 | 9,540 | ||||||||||||||||||||||||||||
Swordfish Merger Sub LLC | Auto Parts & Equipment | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+6.75% cash due 2/2/2026 | 7.75 | % | 12,500 | 12,460 | 11,016 | (6)(20) | |||||||||||||||||||||||
12,460 | 11,016 |
Portfolio Company/Type of Investment (1)(2)(5)(9)(14) | Cash Interest Rate (13) | Industry | Principal (8) | Cost | Fair Value | ||||||||||||
Lytx, Inc. | Research & consulting services | ||||||||||||||||
3,500 Class A Units in Lytx Holdings, LLC | $ | 2,478 | $ | 2,509 | |||||||||||||
3,500 Class B Units in Lytx Holdings, LLC | — | 1,596 | |||||||||||||||
2,478 | 4,105 | ||||||||||||||||
Onvoy, LLC | Integrated telecommunication services | ||||||||||||||||
Second Lien Term Loan, LIBOR+10.5% (1% floor) cash due 2/10/2025 (13) | 12.19 | % | $ | 16,750 | 16,750 | 12,939 | |||||||||||
19,666.67 Class A Units in GTCR Onvoy Holdings, LLC | 1,967 | 166 | |||||||||||||||
13,664.73 Series 3 Class B Units in GTCR Onvoy Holdings, LLC | — | — | |||||||||||||||
18,717 | 13,105 | ||||||||||||||||
4 Over International, LLC | Commercial printing | ||||||||||||||||
First Lien Term Loan, LIBOR+6% (1% floor) cash due 6/7/2022 (13) | 7.57 | % | 6,045 | 5,985 | 6,045 | ||||||||||||
First Lien Revolver, LIBOR+6% (1% floor) cash due 6/7/2021 (10)(13) | 7.57 | % | (17 | ) | — | ||||||||||||
5,968 | 6,045 | ||||||||||||||||
Ping Identity Corporation | Internet software & services | ||||||||||||||||
First Lien Term Loan, LIBOR+9.25% (1% floor) cash due 6/30/2021 (13) | 10.82 | % | 42,500 | 41,605 | 42,929 | ||||||||||||
First Lien Revolver, LIBOR+9.25% (1% floor) cash due 6/30/2021 (10)(13) | 10.82 | % | (55 | ) | 25 | ||||||||||||
41,550 | 42,954 | ||||||||||||||||
Ancile Solutions, Inc. | Internet software & services | ||||||||||||||||
First Lien Term Loan, LIBOR+7% (1% floor) cash due 6/30/2021 (13) | 8.69 | % | 10,198 | 9,990 | 10,106 | ||||||||||||
9,990 | 10,106 | ||||||||||||||||
Ministry Brands, LLC | Internet software & services | ||||||||||||||||
First Lien Term Loan, LIBOR+5% (1% floor) cash due 12/2/2022 (13) | 6.38 | % | 3,891 | 3,859 | 3,925 | ||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5% (1% floor) cash due 12/2/2022 (13) | 6.38 | % | 1,685 | 1,669 | 1,705 | ||||||||||||
Second Lien Term Loan, LIBOR+9.25% (1% floor) cash due 6/2/2023 (13) | 10.63 | % | 7,056 | 6,968 | 7,090 | ||||||||||||
Second Lien Delayed Draw Term Loan, LIBOR+9.25% (1% floor) cash due 6/2/2023 (13) | 10.63 | % | 1,944 | 1,919 | 1,953 | ||||||||||||
First Lien Revolver LIBOR+5% (1% floor) cash due 12/2/2022 (13) | 6.57 | % | 1,000 | 991 | 1,009 | ||||||||||||
15,406 | 15,682 | ||||||||||||||||
California Pizza Kitchen, Inc. | Restaurants | ||||||||||||||||
First Lien Term Loan, LIBOR+6% (1% floor) cash due 8/23/2022 (13)(21) | 7.57 | % | 4,938 | 4,898 | 4,851 | ||||||||||||
4,898 | 4,851 | ||||||||||||||||
Aptos, Inc. | Data processing & outsourced services | ||||||||||||||||
First Lien Term Loan B, LIBOR+6.75% (1% floor) cash due 9/1/2022 (13) | 8.44 | % | 5,411 | 5,325 | 5,357 | ||||||||||||
5,325 | 5,357 | ||||||||||||||||
SPC Partners VI, L.P. | Multi-sector holdings | ||||||||||||||||
0.39% limited partnership interest (11)(25) | 139 | 139 | |||||||||||||||
139 | 139 | ||||||||||||||||
Impact Sales, LLC | Advertising | ||||||||||||||||
First Lien Term Loan, LIBOR+7% (1% floor) cash due 12/30/2021 (13) | 8.33 | % | 11,138 | 10,942 | 11,104 | ||||||||||||
Delayed Draw Term Loan, LIBOR+7% (1% floor) cash due 12/30/2021 (13) | 8.33 | % | 512 | 436 | 501 | ||||||||||||
11,378 | 11,605 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Tacala, LLC | Restaurants | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.50% cash due 2/4/2028 | 8.25 | % | $ | 9,448 | $ | 9,302 | $ | 9,357 | (6) | ||||||||||||||||||||
9,302 | 9,357 | ||||||||||||||||||||||||||||
Telestream Holdings Corporation | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.75% cash due 10/15/2025 | 9.75 | % | 15,020 | 14,749 | 14,720 | (6)(20) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+8.75% cash due 10/15/2025 | — | (27) | (28) | (6)(19)(20) | |||||||||||||||||||||||||
14,722 | 14,692 | ||||||||||||||||||||||||||||
TerSera Therapeutics LLC | Pharmaceuticals | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+9.50% cash due 3/30/2024 | 10.50 | % | 29,663 | 29,268 | 29,372 | (6)(20) | |||||||||||||||||||||||
668,879 Common Units of TerSera Holdings LLC | 2,192 | 3,487 | (20) | ||||||||||||||||||||||||||
31,460 | 32,859 | ||||||||||||||||||||||||||||
Thrasio, LLC | Specialized Finance | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 12/18/2026 | 8.00 | % | 17,213 | 16,783 | 16,783 | (6)(20) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+7.00% cash due 12/18/2026 | — | (284) | (284) | (6)(19)(20) | |||||||||||||||||||||||||
16,499 | 16,499 | ||||||||||||||||||||||||||||
TIBCO Software Inc. | Application Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.25% cash due 3/3/2028 | 7.40 | % | 16,788 | 16,677 | 17,012 | (6) | |||||||||||||||||||||||
16,677 | 17,012 | ||||||||||||||||||||||||||||
TigerConnect, Inc. | Application Software | ||||||||||||||||||||||||||||
299,110 Series B Preferred Stock Warrants (exercise price $1.3373) expiration date 12/8/2024 | 60 | 525 | (20) | ||||||||||||||||||||||||||
60 | 525 | ||||||||||||||||||||||||||||
Transact Holdings Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.75% cash due 4/30/2026 | 4.90 | % | 6,913 | 6,809 | 6,757 | (6)(20) | |||||||||||||||||||||||
6,809 | 6,757 | ||||||||||||||||||||||||||||
Truck Hero, Inc. | Auto Parts & Equipment | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.25% cash due 4/21/2025 | 9.25 | % | 21,500 | 21,191 | 21,500 | (6)(20) | |||||||||||||||||||||||
21,191 | 21,500 | ||||||||||||||||||||||||||||
Verscend Holding Corp. | Health Care Technology | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 8/27/2025 | 4.65 | % | 14,488 | 14,441 | 14,510 | (6) | |||||||||||||||||||||||
Fixed Rate Bond, 9.75% cash due 8/15/2026 | 7,000 | 7,019 | 7,599 | ||||||||||||||||||||||||||
21,460 | 22,109 | ||||||||||||||||||||||||||||
Vitalyst Holdings, Inc. | IT Consulting & Other Services | ||||||||||||||||||||||||||||
675 Series A Preferred Stock Units | 675 | 440 | (20) | ||||||||||||||||||||||||||
7,500 Class A Common Stock Units | 75 | — | (20) | ||||||||||||||||||||||||||
750 | 440 | ||||||||||||||||||||||||||||
William Morris Endeavor Entertainment, LLC | Movies & Entertainment | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.50% cash due 5/18/2025 | 9.50 | % | 33,214 | 31,611 | 34,190 | (6)(20) | |||||||||||||||||||||||
31,611 | 34,190 | ||||||||||||||||||||||||||||
Windstream Services II, LLC | Integrated Telecommunication Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.25% cash due 9/21/2027 | 7.25 | % | 25,870 | 24,876 | 25,377 | (6) | |||||||||||||||||||||||
6,129 Shares of Common Stock in Windstream Holdings II, LLC | 53 | 90 | (20) | ||||||||||||||||||||||||||
37,215 Warrants in Windstream Holdings II, LLC | 853 | 546 | (20) | ||||||||||||||||||||||||||
25,782 | 26,013 | ||||||||||||||||||||||||||||
WP CPP Holdings, LLC | Aerospace & Defense | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026 | 8.75 | % | 15,000 | 14,898 | 12,713 | (6)(20) | |||||||||||||||||||||||
14,898 | 12,713 |
Portfolio Company/Type of Investment (1)(2)(5)(9)(14) | Cash Interest Rate (13) | Industry | Principal (8) | Cost | Fair Value | ||||||||||||
DFT Intermediate LLC | Specialized finance | ||||||||||||||||
First Lien Term Revolver, LIBOR+5.5% (1% floor) cash due 3/1/2022 (13) | 7.07 | % | $ | 3,300 | $ | 3,224 | $ | 3,276 | |||||||||
3,224 | 3,276 | ||||||||||||||||
TerSera Therapeutics, LLC | Pharmaceuticals | ||||||||||||||||
Second Lien Term Loan, LIBOR+9.25% (1% floor) cash due 3/30/2024 (13) | 10.94 | % | 15,000 | 14,603 | 14,676 | ||||||||||||
668,879 Common Units of TerSera Holdings LLC | 1,500 | 1,816 | |||||||||||||||
16,103 | 16,492 | ||||||||||||||||
Cablevision Systems Corp. | Integrated telecommunication services | ||||||||||||||||
Fixed Rate Bond 10.875% cash due 10/15/2025 (11)(21) | 5,897 | 7,046 | 7,017 | ||||||||||||||
7,046 | 7,017 | ||||||||||||||||
HC2 Holdings Inc. | Multi-sector holdings | ||||||||||||||||
Fixed Rate Bond 11% cash due 12/1/2019 (11)(21) | 10,500 | 10,641 | 10,723 | ||||||||||||||
10,641 | 10,723 | ||||||||||||||||
Natural Resource Partners LP | Precious metals & minerals | ||||||||||||||||
Fixed Rate Bond 10.5% cash due 3/15/2022 (11)(21) | 7,000 | 7,426 | 7,490 | ||||||||||||||
7,426 | 7,490 | ||||||||||||||||
Virgin Media | Integrated telecommunication services | ||||||||||||||||
Fixed Rate Bond 5.5% cash due 8/15/2026 (11)(21) | 2,000 | 2,036 | 2,055 | ||||||||||||||
Fixed Rate Bond 5.25% cash due 1/15/2026 (11)(21) | 3,000 | 3,006 | 3,041 | ||||||||||||||
5,042 | 5,096 | ||||||||||||||||
Scientific Games International, Inc. | Casinos & gaming | ||||||||||||||||
First Lien Term Loan B4, LIBOR+3.25% cash due 8/14/2024 (13)(21) | 4.67 | % | 11,340 | 11,277 | 11,446 | ||||||||||||
11,277 | 11,446 | ||||||||||||||||
Salient CRGT Inc. | IT consulting & other services | ||||||||||||||||
First Lien Term Loan, LIBOR+5.75% (1% floor) cash due 2/28/2022 (13)(21) | 7.32 | % | 3,368 | 3,310 | 3,397 | ||||||||||||
3,310 | 3,397 | ||||||||||||||||
Allied Universal Holdco LLC | Security & alarm services | ||||||||||||||||
First Lien Term Loan, LIBOR+3.75% (1% floor) cash due 7/28/2022 (13)(21) | 5.44 | % | 11,939 | 12,014 | 11,863 | ||||||||||||
Second Lien Term Loan, LIBOR+8.5% (1% floor) cash due 7/27/2023 (13)(21) | 9.88 | % | 1,149 | 1,170 | 1,148 | ||||||||||||
13,184 | 13,011 | ||||||||||||||||
Truck Hero, Inc. | Auto parts & equipment | ||||||||||||||||
Second Lien Term Loan, LIBOR+8.25% (1% floor) cash due 4/21/2025 (13) | 9.89 | % | 21,500 | 21,191 | 21,661 | ||||||||||||
21,191 | 21,661 | ||||||||||||||||
BMC Software Finance, Inc. | Internet software & services | ||||||||||||||||
First Lien Term Loan, LIBOR+3.25% (1% floor) cash due 9/10/2022 (13)(21) | 4.82 | % | 16,834 | 16,946 | 16,875 | ||||||||||||
16,946 | 16,875 | ||||||||||||||||
Internet Pipeline, Inc. | Internet software & services | ||||||||||||||||
Incremental First Lien Term Loan, LIBOR+6.25% (1% floor) cash due 8/1/2022 (13) | 7.74 | % | 5,578 | 5,516 | 5,689 | ||||||||||||
5,516 | 5,689 | ||||||||||||||||
MHE Intermediate Holdings, LLC | Diversified support services | ||||||||||||||||
First Lien Term Loan, LIBOR+5% (1% floor) cash due 3/11/2024 (13) | 6.69 | % | 2,985 | 2,958 | 2,985 | ||||||||||||
2,958 | 2,985 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
WPEngine, Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 3/27/2026 | 7.50 | % | $ | 14,188 | $ | 13,879 | $ | 13,969 | (6)(20) | ||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+6.50% cash due 3/27/2026 | — | (575) | (406) | (6)(19)(20) | |||||||||||||||||||||||||
13,304 | 13,563 | ||||||||||||||||||||||||||||
xMatters, Inc. | Application Software | ||||||||||||||||||||||||||||
600,000 Common Stock Warrants (exercise price $0.593333) expiration date 2/26/2025 | 709 | 336 | (20) | ||||||||||||||||||||||||||
709 | 336 | ||||||||||||||||||||||||||||
Zep Inc. | Specialty Chemicals | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.00% cash due 8/12/2024 | 5.00 | % | 1,950 | 1,894 | 1,909 | (6) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.25% cash due 8/11/2025 | 9.25 | % | 23,807 | 23,737 | 22,147 | (6)(20) | |||||||||||||||||||||||
25,631 | 24,056 | ||||||||||||||||||||||||||||
Zephyr Bidco Limited | Specialized Finance | ||||||||||||||||||||||||||||
Second Lien Term Loan, UK LIBOR+7.50% cash due 7/23/2026 | 7.52 | % | £ | 18,000 | 23,732 | 23,952 | (6)(11) | ||||||||||||||||||||||
23,732 | 23,952 | ||||||||||||||||||||||||||||
Total Non-Control/Non-Affiliate Investments (155.0% of net assets) | $ | 1,503,368 | $ | 1,495,593 | |||||||||||||||||||||||||
Total Portfolio Investments (177.5% of net assets) | $ | 1,757,661 | $ | 1,712,324 | |||||||||||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||||||||||||||
JP Morgan Prime Money Market Fund, Institutional Shares | $ | 20,966 | $ | 20,966 | |||||||||||||||||||||||||
Other cash accounts | 3,268 | 3,268 | |||||||||||||||||||||||||||
Total Cash and Cash Equivalents (2.5% of net assets) | $ | 24,234 | $ | 24,234 | |||||||||||||||||||||||||
Total Portfolio Investments and Cash and Cash Equivalents (180.0% of net assets) | $ | 1,781,895 | $ | 1,736,558 |
Derivative Instrument | Notional Amount to be Purchased | Notional Amount to be Sold | Maturity Date | Counterparty | Cumulative Unrealized Appreciation /(Depreciation) | |||||||||||||||||||||||||||
Foreign currency forward contract | $ | 36,999 | £ | 27,894 | 2/11/2021 | JPMorgan Chase Bank, N.A. | $ | (1,141) | ||||||||||||||||||||||||
Foreign currency forward contract | $ | 30,308 | € | 25,614 | 2/11/2021 | JPMorgan Chase Bank, N.A. | (1,062) | |||||||||||||||||||||||||
$ | (2,203) |
Portfolio Company/Type of Investment (1)(2)(5)(9)(14) | Cash Interest Rate (13) | Industry | Principal (8) | Cost | Fair Value | ||||||||||||
PowerPlan Holdings, LLC | Internet software & services | ||||||||||||||||
First Lien Term Loan, LIBOR+5.25% (1% floor) cash due 2/23/2022 (13) | 6.82 | % | $ | 4,975 | $ | 4,932 | $ | 4,975 | |||||||||
4,932 | 4,975 | ||||||||||||||||
UOS, LLC | Trucking | ||||||||||||||||
First Lien Term Loan, LIBOR+5.5% (1% floor) cash due 4/18/2023 (13)(21) | 7.07 | % | 6,898 | 7,055 | 7,062 | ||||||||||||
7,055 | 7,062 | ||||||||||||||||
Veritas US Inc. | Internet software & services | ||||||||||||||||
First Lien Term Loan, LIBOR+4.5% (1% floor) cash due 1/27/2023 (13)(21) | 6.19 | % | 34,821 | 35,233 | 34,949 | ||||||||||||
35,233 | 34,949 | ||||||||||||||||
Staples, Inc. | Distributors | ||||||||||||||||
First Lien Term Loan, LIBOR+4% (1% floor) cash due 8/12/2024 (13)(21) | 5.49 | % | 6,633 | 6,617 | 6,516 | ||||||||||||
6,617 | 6,516 | ||||||||||||||||
Zep Inc. | Housewares & Specialties | ||||||||||||||||
Second Lien Term Loan, LIBOR+8.25% (1% floor) cash due 8/11/2025 (13) | 9.63 | % | 30,000 | 29,856 | 29,925 | ||||||||||||
29,856 | 29,925 | ||||||||||||||||
DTZ U.S. Borrower, LLC | Real estate services | ||||||||||||||||
First Lien Term Loan, LIBOR+3.25% (1% floor) cash due 11/4/2021 (13)(21) | 4.94 | % | 12,934 | 12,974 | 12,786 | ||||||||||||
12,974 | 12,786 | ||||||||||||||||
Micro Holding Corp. | Internet software & services | ||||||||||||||||
First Lien Term Loan, LIBOR+3.75% (1% floor) cash due 9/13/2024 (13)(21) | 5.34 | % | 5,985 | 5,957 | 6,012 | ||||||||||||
5,957 | 6,012 | ||||||||||||||||
Accudyne Industries, LLC | Oil & gas equipment services | ||||||||||||||||
First Lien Term Loan, LIBOR+3.75% (1% floor) cash due 8/18/2024 (13)(21) | 5.32 | % | 19,865 | 19,924 | 20,035 | ||||||||||||
19,924 | 20,035 | ||||||||||||||||
McAfee, LLC | Internet software & services | ||||||||||||||||
First Lien Term Loan, LIBOR+4.5% (1% floor) cash due 9/30/2024 (13)(21) | 6.07 | % | 7,980 | 7,904 | 7,966 | ||||||||||||
Second Lien Term Loan LIBOR+8.5% (1% floor) cash due 9/29/2025 (13)(21) | 10.07 | % | 8,000 | 8,050 | 8,040 | ||||||||||||
15,954 | 16,006 | ||||||||||||||||
99 Cents Only Stores LLC | General merchandise stores | ||||||||||||||||
First Lien Term Loan LIBOR+5% 1.50% PIK due 1/13/2022 (13)(21) | 6.57 | % | 4,605 | 4,206 | 4,484 | ||||||||||||
4,206 | 4,484 | ||||||||||||||||
Navicure, Inc. | Health care technology | ||||||||||||||||
Second Lien Term Loan, LIBOR+7.5% (1% floor) cash due 10/31/2025 (13)(21) | 8.86 | % | 14,500 | 14,357 | 14,609 | ||||||||||||
14,357 | 14,609 | ||||||||||||||||
Strategic Materials Holdings Corp. | Health care distributors | ||||||||||||||||
Second Lien Term Loan, LIBOR+7.75% (1% floor) cash due 10/27/2025 (13)(21) | 9.13 | % | 9,000 | 8,911 | 9,053 | ||||||||||||
8,911 | 9,053 | ||||||||||||||||
Lanai Holdings III, Inc. | Environmental & facilities services | ||||||||||||||||
First Lien Term Loan B, LIBOR+4.75% (1% floor) cash due 8/29/2022 (13)(21) | 6.23 | % | 20,254 | 19,754 | 19,444 | ||||||||||||
19,754 | 19,444 | ||||||||||||||||
Vine Oil & Gas LP | Oil & gas exploration & production | ||||||||||||||||
First Lien Term Loan B, LIBOR+6.875% (1% floor) cash due 11/25/2021 (13)(21) | 8.44 | % | 18,000 | 17,913 | 17,865 | ||||||||||||
17,913 | 17,865 |
Portfolio Company/Type of Investment (1)(2)(5)(9)(14) | Cash Interest Rate (13) | Industry | Principal (8) | Cost | Fair Value | ||||||||||||
Sprint Capital Corp | Wireless telecommunication services | ||||||||||||||||
Fixed Rate Bond 6.875% cash due 11/15/2028 (11)(21) | $ | 5,000 | $ | 5,000 | $ | 5,044 | |||||||||||
5,000 | 5,044 | ||||||||||||||||
Avantor Inc. | Commodity chemicals | ||||||||||||||||
Fixed Rate Bond 6% cash due 10/1/2024 (11)(21) | 8,000 | 7,980 | 7,990 | ||||||||||||||
Fixed Rate Bond 9% cash due 10/1/2025 (11)(21) | 3,000 | 2,969 | 2,963 | ||||||||||||||
10,949 | 10,953 | ||||||||||||||||
Datto Inc. | Technology distributors | ||||||||||||||||
First Lien Term Loan LIBOR+8% (1% floor) cash due 12/7/2022 (13) | 9.41 | % | 35,000 | 34,310 | 34,300 | ||||||||||||
First Lien Revolver LIBOR+8% (1% floor) cash due 12/7/2022 (13) | 9.41 | % | (46 | ) | (47 | ) | |||||||||||
34,264 | 34,253 | ||||||||||||||||
Altice Finco SA | Integrated telecommunication services | ||||||||||||||||
Fixed Rate Bond 8.125% cash due 1/15/2024 (11)(21) | 3,000 | 3,060 | 3,150 | ||||||||||||||
Fixed Rate Bond 7.625% cash due 2/15/2025 (11)(21) | 2,000 | 2,015 | 2,043 | ||||||||||||||
5,075 | 5,193 | ||||||||||||||||
Numericable SFR SA | Integrated telecommunication services | ||||||||||||||||
Fixed Rate Bond 7.375% cash due 5/1/2026 (11)(21) | 5,000 | 5,125 | 5,169 | ||||||||||||||
5,125 | 5,169 | ||||||||||||||||
CITGO Petroleum Corp | Oil & gas refining & marketing | ||||||||||||||||
First Lien Term Loan LIBOR+3.5% (1% floor) cash due 7/29/2021 (11)(13)(21) | 4.84 | % | 3,000 | 2,948 | 2,957 | ||||||||||||
2,948 | 2,957 | ||||||||||||||||
CITGO Holding Inc. | Oil & gas refining & marketing | ||||||||||||||||
First Lien Term Loan LIBOR+8.5% (1% floor) cash due 5/12/2018 (11)(13)(21) | 9.84 | % | 29,658 | 29,783 | 30,029 | ||||||||||||
29,783 | 30,029 | ||||||||||||||||
Asset International, Inc. | Research & consulting services | ||||||||||||||||
Second Lien Term Loan LIBOR+9.25% (1% floor) cash due 6/29/2025 (13) | 10.94 | % | 15,000 | 14,657 | 14,657 | ||||||||||||
14,657 | 14,657 | ||||||||||||||||
Total Non-Control/Non-Affiliate Investments (131.9% of net assets) | $ | 1,204,629 | $ | 1,081,401 | |||||||||||||
Total Portfolio Investments (172.7% of net assets) | $ | 1,676,441 | $ | 1,415,404 | |||||||||||||
Cash and Cash Equivalents | |||||||||||||||||
JP Morgan Prime Money Market Fund | $ | 30,074 | $ | 30,074 | |||||||||||||
Other cash accounts | 15,361 | 15,361 | |||||||||||||||
Total Cash and Cash Equivalents (5.5% of net assets) | $ | 45,435 | $ | 45,435 | |||||||||||||
Total Portfolio Investments, Cash and Cash Equivalents (178.2% of net assets) | $ | 1,721,876 | $ | 1,460,839 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Control Investments | (8)(9) | ||||||||||||||||||||||||||||
C5 Technology Holdings, LLC | Data Processing & Outsourced Services | ||||||||||||||||||||||||||||
829 Common Units | $ | — | $ | — | (20) | ||||||||||||||||||||||||
34,984,460.37 Preferred Units | 34,984 | 27,638 | (20) | ||||||||||||||||||||||||||
34,984 | 27,638 | ||||||||||||||||||||||||||||
Dominion Diagnostics, LLC | Health Care Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 2/28/2024 | 6.00 | % | $ | 27,660 | 27,660 | 27,660 | (6)(20) | ||||||||||||||||||||||
First Lien Revolver, LIBOR+5.00% cash due 2/28/2024 | 6.00 | % | 5,260 | 5,260 | 5,260 | (6)(19)(20) | |||||||||||||||||||||||
30,030.8 Common Units in DD Healthcare Services Holdings, LLC | 18,626 | 7,667 | (20) | ||||||||||||||||||||||||||
51,546 | 40,587 | ||||||||||||||||||||||||||||
First Star Speir Aviation Limited | Airlines | (10) | |||||||||||||||||||||||||||
First Lien Term Loan, 9.00% cash due 12/15/2020 | 11,510 | 2,035 | 11,510 | (11)(20) | |||||||||||||||||||||||||
100% equity interest | 8,500 | 1,622 | (11)(12)(20) | ||||||||||||||||||||||||||
10,535 | 13,132 | ||||||||||||||||||||||||||||
New IPT, Inc. | Oil & Gas Equipment & Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 3/17/2021 | 6.00 | % | 2,304 | 2,304 | 1,800 | (6)(20) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+5.00% cash due 3/17/2021 | 6.00 | % | 1,009 | 1,009 | 788 | (6)(19)(20) | |||||||||||||||||||||||
50.087 Class A Common Units in New IPT Holdings, LLC | — | — | (20) | ||||||||||||||||||||||||||
3,313 | 2,588 | ||||||||||||||||||||||||||||
Senior Loan Fund JV I, LLC | Multi-Sector Holdings | (14) | |||||||||||||||||||||||||||
Subordinated Debt, LIBOR+7.00% cash due 12/29/2028 | 7.17 | % | 96,250 | 96,250 | 96,250 | (6)(11)(20) | |||||||||||||||||||||||
87.5% LLC equity interest | 49,322 | 21,190 | (11)(16)(19) | ||||||||||||||||||||||||||
145,572 | 117,440 | ||||||||||||||||||||||||||||
Total Control Investments (22.0% of net assets) | $ | 245,950 | $ | 201,385 | |||||||||||||||||||||||||
Affiliate Investments | (17) | ||||||||||||||||||||||||||||
Assembled Brands Capital LLC | Specialized Finance | ||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+6.00% cash due 10/17/2023 | 7.00 | % | $ | 4,688 | $ | 4,688 | $ | 4,194 | (6)(19)(20) | ||||||||||||||||||||
1,609,201 Class A Units | 764 | 483 | (20) | ||||||||||||||||||||||||||
1,019,168.80 Preferred Units, 6% | 1,019 | 1,091 | (20) | ||||||||||||||||||||||||||
70,424.5641 Class A Warrants (exercise price $3.3778) expiration date 9/9/2029 | — | — | (20) | ||||||||||||||||||||||||||
6,471 | 5,768 | ||||||||||||||||||||||||||||
Caregiver Services, Inc. | Health Care Services | ||||||||||||||||||||||||||||
1,080,399 shares of Series A Preferred Stock, 10% | 1,080 | 741 | (20) | ||||||||||||||||||||||||||
1,080 | 741 | ||||||||||||||||||||||||||||
Total Affiliate Investments (0.7% of net assets) | $ | 7,551 | $ | 6,509 | |||||||||||||||||||||||||
Non-Control/Non-Affiliate Investments | (18) | ||||||||||||||||||||||||||||
4 Over International, LLC | Commercial Printing | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 6/7/2022 | 7.00 | % | $ | 5,676 | $ | 5,654 | $ | 5,264 | (6)(20) | ||||||||||||||||||||
First Lien Revolver, LIBOR+6.00% cash due 6/7/2021 | 7.00 | % | 2,232 | 2,214 | 2,070 | (6)(20) | |||||||||||||||||||||||
7,868 | 7,334 | ||||||||||||||||||||||||||||
99 Cents Only Stores LLC | General Merchandise Stores | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash 1.50% PIK due 1/13/2022 | 6.00 | % | 19,431 | 19,220 | 17,877 | (6) | |||||||||||||||||||||||
19,220 | 17,877 | ||||||||||||||||||||||||||||
A.T. Holdings II SÀRL | Biotechnology | ||||||||||||||||||||||||||||
First Lien Term Loan, 12.00% cash due 4/27/2023 | 22,619 | 22,619 | 26,464 | (11)(20) | |||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, 12.00% cash due 4/27/2023 | 1,508 | 1,508 | 1,780 | (11)(19)(20) | |||||||||||||||||||||||||
24,127 | 28,244 |
Portfolio Company/Type of Investment (1)(2)(5)(9)(14) | Cash Interest Rate (13) | Industry | Principal (8) | Cost | Fair Value | ||||||||||||
Control Investments (3)(15) | |||||||||||||||||
Traffic Solutions Holdings, Inc. | Construction and engineering | ||||||||||||||||
First Lien Term Loan, LIBOR+7% (1% floor) cash 2% PIK due 4/1/2021 (13) | 8.34 | % | $ | 36,567 | $ | 36,539 | $ | 36,568 | |||||||||
First Lien Revolver, LIBOR+6% (1% floor) cash due 4/1/2021 (13) | 7.34 | % | 1,250 | 1,247 | 1,250 | ||||||||||||
LC Facility, 6% cash due 4/1/2021 | 4,752 | 4,748 | 4,752 | ||||||||||||||
746,114 Series A Preferred Units, 10% | 20,029 | 7,700 | |||||||||||||||
746,114 Shares of Common Stock | 5,316 | — | |||||||||||||||
67,879 | 50,270 | ||||||||||||||||
TransTrade Operators, Inc. | Air freight & logistics | ||||||||||||||||
First Lien Term Loan, 5% cash due 12/31/2017 (23) | 15,973 | 15,574 | 1,810 | ||||||||||||||
First Lien Revolver, 8% cash due 12/31/2017 (23) | 7,757 | 7,757 | — | ||||||||||||||
596.67 Series A Common Units | — | — | |||||||||||||||
4,000 Series A Preferred Units in TransTrade Holdings LLC | 4,000 | — | |||||||||||||||
5,200,000 Series B Preferred Units in TransTrade Holdings LLC | 5,200 | — | |||||||||||||||
32,531 | 1,810 | ||||||||||||||||
First Star Speir Aviation Limited (11)(16) | Airlines | ||||||||||||||||
First Lien Term Loan, 9% cash due 12/15/2020 | 41,395 | 34,542 | 41,395 | ||||||||||||||
100% equity interest (6) | 8,500 | 3,926 | |||||||||||||||
43,042 | 45,321 | ||||||||||||||||
First Star Bermuda Aviation Limited (11)(16) | Airlines | ||||||||||||||||
First Lien Term Loan, 9% cash 3% PIK due 8/19/2018 | 11,868 | 11,868 | 11,868 | ||||||||||||||
100% equity interest (6) | 2,693 | 2,323 | |||||||||||||||
14,561 | 14,191 | ||||||||||||||||
Eagle Hospital Physicians, LLC | Healthcare services | ||||||||||||||||
Earn-out (19) | 7,851 | 4,986 | |||||||||||||||
7,851 | 4,986 | ||||||||||||||||
Senior Loan Fund JV I, LLC (11)(17)(18) | Multi-sector holdings | ||||||||||||||||
Class A Mezzanine Secured Deferrable Floating Rate Notes due 2036 in SLF Repack Issuer 2016 LLC (13) | 6.88 | % | 101,030 | 101,030 | 101,030 | ||||||||||||
Class B Mezzanine Secured Deferrable Fixed Rate Notes, 15% PIK due 2036 in SLF Repack Issuer 2016 LLC | 27,641 | 27,641 | 27,641 | ||||||||||||||
87.5% LLC equity interest (6)(25) | 16,172 | 5,525 | |||||||||||||||
144,843 | 134,196 | ||||||||||||||||
Ameritox Ltd. | Healthcare services | ||||||||||||||||
First Lien Term Loan, LIBOR+5% (1% floor) cash 3% PIK due 4/11/2021 (13)(23) | 6.33 | % | 38,338 | 37,539 | 4,445 | ||||||||||||
14,090,126.4 Class A Preferred Units in Ameritox Holdings II, LLC | 14,090 | — | |||||||||||||||
1,602,260.83 Class B Preferred Units in Ameritox Holdings II, LLC | 1,602 | — | |||||||||||||||
4,930.03 Class A Units in Ameritox Holdings II, LLC | 29,049 | — | |||||||||||||||
82,280 | 4,445 | ||||||||||||||||
New IPT, Inc. | Oil & gas equipment services | ||||||||||||||||
First Lien Term Loan, LIBOR+5% (1% floor) cash due 3/17/2021 (13) | 6.33 | % | 4,107 | 4,107 | 4,107 | ||||||||||||
Second Lien Term Loan, LIBOR+5.1% (1% floor) cash due 9/17/2021 (13) | 6.43 | % | 2,504 | 2,504 | 2,504 | ||||||||||||
First Lien Revolver, LIBOR+5% (1% floor) cash due 3/17/2021 (13) | 6.33 | % | 1,009 | 1,009 | 1,009 | ||||||||||||
50.087 Class A Common Units in New IPT Holdings, LLC | — | 736 | |||||||||||||||
7,620 | 8,356 | ||||||||||||||||
AdVenture Interactive, Corp. | Advertising | ||||||||||||||||
9,073 shares of common stock | 13,611 | 13,818 | |||||||||||||||
13,611 | 13,818 | ||||||||||||||||
Keypath Education, Inc. (20) | Advertising | ||||||||||||||||
First Lien Term Loan, LIBOR+7% (1% floor) cash due 4/3/2022 (13) | 8.33 | % | 19,960 | 19,960 | 19,960 | ||||||||||||
First Lien Revolver, LIBOR+7% (1% floor) cash due 4/3/2022 (13) | 8.33 | % | — | — | — | ||||||||||||
9,073 Class A Units in FS AVI Holdco, LLC | 10,648 | 7,918 | |||||||||||||||
30,608 | 27,878 | ||||||||||||||||
Total Control Investments (35.2% of net assets) | $ | 444,826 | $ | 305,271 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Access CIG, LLC | Diversified Support Services | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.75% cash due 2/27/2026 | 7.91 | % | $ | 15,000 | $ | 14,909 | $ | 14,250 | (6) | ||||||||||||||||||||
14,909 | 14,250 | ||||||||||||||||||||||||||||
Accupac, Inc. | Personal Products | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 1/17/2026 | 7.00 | % | 12,487 | 12,294 | 12,487 | (6)(20) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+6.00% cash due 1/17/2026 | — | (36) | — | (6)(19)(20) | |||||||||||||||||||||||||
First Lien Revolver, LIBOR+6.00% cash due 1/17/2026 | 7.00 | % | 1,564 | 1,540 | 1,564 | (6)(20) | |||||||||||||||||||||||
13,798 | 14,051 | ||||||||||||||||||||||||||||
Acquia Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 10/31/2025 | 8.00 | % | 20,950 | 20,594 | 20,499 | (6)(20) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+7.00% cash due 10/31/2025 | — | (39) | (48) | (6)(19)(20) | |||||||||||||||||||||||||
20,555 | 20,451 | ||||||||||||||||||||||||||||
Aden & Anais Merger Sub, Inc. | Apparel, Accessories & Luxury Goods | ||||||||||||||||||||||||||||
51,645 Common Units in Aden & Anais Holdings, Inc. | 5,165 | — | (20) | ||||||||||||||||||||||||||
5,165 | — | ||||||||||||||||||||||||||||
AdVenture Interactive, Corp. | Advertising | ||||||||||||||||||||||||||||
9,073 shares of common stock | 13,611 | 13,440 | (20) | ||||||||||||||||||||||||||
13,611 | 13,440 | ||||||||||||||||||||||||||||
AI Ladder (Luxembourg) Subco S.a.r.l. | Electrical Components & Equipment | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 7/9/2025 | 4.65 | % | 21,374 | 20,934 | 20,465 | (6)(11) | |||||||||||||||||||||||
20,934 | 20,465 | ||||||||||||||||||||||||||||
AI Sirona (Luxembourg) Acquisition S.a.r.l. | Pharmaceuticals | ||||||||||||||||||||||||||||
Second Lien Term Loan, EURIBOR+7.25% cash due 9/28/2026 | 7.25 | % | € | 24,838 | 27,668 | 28,435 | (6)(11)(20) | ||||||||||||||||||||||
27,668 | 28,435 | ||||||||||||||||||||||||||||
Airbnb, Inc. | Hotels, Resorts & Cruise Lines | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.50% cash due 4/17/2025 | 8.50 | % | $ | 15,743 | 15,378 | 17,081 | (6) | ||||||||||||||||||||||
15,378 | 17,081 | ||||||||||||||||||||||||||||
AirStrip Technologies, Inc. | Application Software | ||||||||||||||||||||||||||||
5,715 Common Stock Warrants (exercise price $139.99) expiration date 5/11/2025 | 90 | — | (20) | ||||||||||||||||||||||||||
90 | — | ||||||||||||||||||||||||||||
Aldevron, L.L.C. | Biotechnology | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 10/12/2026 | 5.25 | % | 7,960 | 7,880 | 7,977 | (6) | |||||||||||||||||||||||
7,880 | 7,977 | ||||||||||||||||||||||||||||
Algeco Scotsman Global Finance Plc | Construction & Engineering | ||||||||||||||||||||||||||||
Fixed Rate Bond, 8.00% cash due 2/15/2023 | 13,524 | 13,277 | 13,465 | (11) | |||||||||||||||||||||||||
13,277 | 13,465 | ||||||||||||||||||||||||||||
Alvotech Holdings S.A. | Biotechnology | (13) | |||||||||||||||||||||||||||
Fixed Rate Bond 15% PIK Note A due 12/13/2023 | 14,800 | 18,849 | 19,968 | (11)(20) | |||||||||||||||||||||||||
Fixed Rate Bond 15% PIK Note B due 12/13/2023 | 14,800 | 18,849 | 19,196 | (11)(20) | |||||||||||||||||||||||||
37,698 | 39,164 | ||||||||||||||||||||||||||||
Amplify Finco Pty Ltd. | Movies & Entertainment | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.00% cash due 11/26/2026 | 4.75 | % | 995 | 909 | 856 | (6)(11)(20) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.00% cash due 11/26/2027 | 8.75 | % | 12,500 | 12,188 | 9,438 | (6)(11)(20) | |||||||||||||||||||||||
13,097 | 10,294 |
Portfolio Company/Type of Investment (1)(2)(5)(9)(14) | Cash Interest Rate (13) | Industry | Principal (8) | Cost | Fair Value | ||||||||||||
Affiliate Investments (4) | |||||||||||||||||
Caregiver Services, Inc. | Healthcare services | ||||||||||||||||
Second Lien Term Loan, 10% cash 2% PIK due 6/30/2019 | $ | 9,719 | $ | 9,719 | $ | 9,665 | |||||||||||
1,080,399 Shares of Series A Preferred Stock, 10% | 1,080 | 2,534 | |||||||||||||||
10,799 | 12,199 | ||||||||||||||||
AmBath/ReBath Holdings, Inc. | Home improvement retail | ||||||||||||||||
First Lien Term Loan B, 12.5% cash 2.5% PIK due 8/31/2018 | 22,955 | 22,944 | 22,957 | ||||||||||||||
4,668,788 Shares of Preferred Stock | — | 1,827 | |||||||||||||||
22,944 | 24,784 | ||||||||||||||||
Total Affiliate Investments (4.3% of net assets) | $ | 33,743 | $ | 36,983 | |||||||||||||
Non-Control/Non-Affiliate Investments (7) | |||||||||||||||||
Cenegenics, LLC | Healthcare services | ||||||||||||||||
First Lien Term Loan, 9.75% cash 2% PIK due 9/30/2019 (23) | 28,600 | $ | 27,737 | $ | 15,811 | ||||||||||||
First Lien Revolver, 15% cash due 9/30/2019 (23) | 2,203 | 2,203 | 1,218 | ||||||||||||||
452,914.87 Common Units in Cenegenics, LLC | 598 | — | |||||||||||||||
345,380.141 Preferred Units in Cenegenics, LLC | 300 | — | |||||||||||||||
30,838 | 17,029 | ||||||||||||||||
Riverlake Equity Partners II, LP | Multi-sector holdings | ||||||||||||||||
1.92% limited partnership interest (11)(25) | 870 | 625 | |||||||||||||||
870 | 625 | ||||||||||||||||
Riverside Fund IV, LP | Multi-sector holdings | ||||||||||||||||
0.34% limited partnership interest (11)(25) | 219 | 397 | |||||||||||||||
219 | 397 | ||||||||||||||||
Bunker Hill Capital II (QP), L.P. | Multi-sector holdings | ||||||||||||||||
0.51% limited partnership interest (11)(25) | 826 | 1,056 | |||||||||||||||
826 | 1,056 | ||||||||||||||||
Maverick Healthcare Group, LLC (21) | Healthcare equipment | ||||||||||||||||
First Lien Term Loan A, LIBOR+7.5% cash (1.75% floor) cash due 4/30/2017 (13)(23) | 9.25 | % | 16,309 | 16,204 | 14,209 | ||||||||||||
First Lien Term Loan B, LIBOR+11% cash (1.75% floor) cash due 4/30/2017 (13)(23) | 12.75 | % | 41,739 | 39,110 | 14,531 | ||||||||||||
CapEx Line, LIBOR+7.75% (1.75% floor) cash due 4/30/2017 (13)(23) | 9.50 | % | 1,272 | 1,261 | 1,124 | ||||||||||||
First Lien Revolver, PRIME+6.5% cash due 4/30/2017 (13)(23) | 10.75 | % | 55 | 40 | 55 | ||||||||||||
56,615 | 29,919 | ||||||||||||||||
Refac Optical Group | Specialty stores | ||||||||||||||||
First Lien Term Loan A, LIBOR+8% cash due 9/30/2018 (13) | 9.23 | % | 4,027 | 3,997 | 4,027 | ||||||||||||
First Lien Term Loan B, LIBOR+9% cash, 1.75% PIK due 9/30/2018 (13) | 10.23 | % | 34,621 | 34,533 | 34,275 | ||||||||||||
First Lien Term Loan C, 12.5% cash due 9/30/2018 | 3,416 | 3,416 | 3,314 | ||||||||||||||
First Lien Revolver, LIBOR+8% cash due 9/30/2018 (13) | 9.23 | % | 3,520 | 3,516 | 3,520 | ||||||||||||
1,550.9435 Shares of Common Stock in Refac Holdings, Inc. | 1 | — | |||||||||||||||
550.9435 Shares of Series A-2 Preferred Stock in Refac Holdings, Inc., 10% | 305 | — | |||||||||||||||
1,000 Shares of Series A Preferred Stock Units in Refac Holdings, Inc., 10% | 999 | 397 | |||||||||||||||
46,767 | 45,533 | ||||||||||||||||
Baird Capital Partners V, LP | Multi-sector holdings | ||||||||||||||||
0.4% limited partnership interest (11)(25) | 994 | 601 | |||||||||||||||
994 | 601 | ||||||||||||||||
Milestone Partners IV, L.P. | Multi-sector holdings | ||||||||||||||||
0.82% limited partnership interest (11)(25) | 948 | 1,527 | |||||||||||||||
948 | 1,527 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Ancile Solutions, Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 6/30/2021 | 8.00 | % | $ | 8,181 | $ | 8,150 | $ | 8,124 | (6)(20) | ||||||||||||||||||||
8,150 | 8,124 | ||||||||||||||||||||||||||||
Apptio, Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.25% cash due 1/10/2025 | 8.25 | % | 23,764 | 23,420 | 23,297 | (6)(20) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+7.25% cash due 1/10/2025 | — | (22) | (30) | (6)(19)(20) | |||||||||||||||||||||||||
23,398 | 23,267 | ||||||||||||||||||||||||||||
Ardonagh Midco 3 PLC | Insurance Brokers | ||||||||||||||||||||||||||||
First Lien Term Loan, EURIBOR+7.50% cash due 7/14/2026 | 8.50 | % | € | 1,440 | 1,594 | 1,640 | (6)(11)(20) | ||||||||||||||||||||||
First Lien Term Loan, UK LIBOR+7.50% cash due 7/14/2026 | 8.25 | % | £ | 11,303 | 13,752 | 14,188 | (6)(11)(20) | ||||||||||||||||||||||
First Lien Delayed Draw Term Loan, UK LIBOR+7.50% cash due 7/14/2026 | £ | — | — | — | (6)(11)(19)(20) | ||||||||||||||||||||||||
Fixed Rate Bond, 11.50% cash due 1/15/2027 | $ | 2,222 | 2,200 | 2,255 | (11) | ||||||||||||||||||||||||
17,546 | 18,083 | ||||||||||||||||||||||||||||
Associated Asphalt Partners, LLC | Construction Materials | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.25% cash due 4/5/2024 | 6.25 | % | 2,554 | 2,150 | 2,073 | (6) | |||||||||||||||||||||||
2,150 | 2,073 | ||||||||||||||||||||||||||||
Asurion, LLC | Property & Casualty Insurance | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+6.50% cash due 8/4/2025 | 6.65 | % | 19,985 | 19,950 | 20,058 | (6) | |||||||||||||||||||||||
19,950 | 20,058 | ||||||||||||||||||||||||||||
Athenex, Inc. | Pharmaceuticals | ||||||||||||||||||||||||||||
First Lien Term Loan, 11.00% cash due 6/19/2026 | 28,475 | 27,252 | 28,261 | (11)(20) | |||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, 11.00% cash due 6/19/2026 | — | (321) | (171) | (11)(19)(20) | |||||||||||||||||||||||||
266,052 Common Stock Warrants (exercise price $12.63) expiration date 6/19/2027 | 915 | 785 | (11)(20) | ||||||||||||||||||||||||||
27,846 | 28,875 | ||||||||||||||||||||||||||||
Aurora Lux Finco S.À.R.L. | Airport Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026 | 7.00 | % | 22,885 | 22,376 | 21,283 | (6)(11)(20) | |||||||||||||||||||||||
22,376 | 21,283 | ||||||||||||||||||||||||||||
Blackhawk Network Holdings, Inc. | Data Processing & Outsourced Services | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.00% cash due 6/15/2026 | 7.19 | % | 26,250 | 26,049 | 24,150 | (6) | |||||||||||||||||||||||
26,049 | 24,150 | ||||||||||||||||||||||||||||
Boxer Parent Company Inc. | Systems Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 10/2/2025 | 4.40 | % | 13,775 | 13,666 | 13,407 | (6) | |||||||||||||||||||||||
13,666 | 13,407 | ||||||||||||||||||||||||||||
BX Commercial Mortgage Trust 2020-VIVA | Diversified Real Estate Activities | ||||||||||||||||||||||||||||
Class D Variable Notes due 3/9/2044 | 3.67 | % | 12,556 | 10,482 | 11,451 | (6)(11)(20) | |||||||||||||||||||||||
Class E Variable Notes due 3/9/2044 | 3.67 | % | 6,221 | 4,806 | 5,395 | (6)(11)(20) | |||||||||||||||||||||||
15,288 | 16,846 | ||||||||||||||||||||||||||||
California Pizza Kitchen, Inc. | Restaurants | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.00% cash due 8/23/2022 | 3,222 | 3,081 | 983 | (6)(21) | |||||||||||||||||||||||||
3,081 | 983 | ||||||||||||||||||||||||||||
Chief Power Finance II, LLC | Independent Power Producers & Energy Traders | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 12/31/2022 | 7.50 | % | 21,850 | 21,462 | 20,812 | (6)(20) | |||||||||||||||||||||||
21,462 | 20,812 | ||||||||||||||||||||||||||||
CITGO Holding, Inc. | Oil & Gas Refining & Marketing | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 8/1/2023 | 8.00 | % | 11,753 | 11,570 | 11,081 | (6) | |||||||||||||||||||||||
Fixed Rate Bond, 9.25% cash due 8/1/2024 | 10,672 | 10,672 | 10,192 | ||||||||||||||||||||||||||
22,242 | 21,273 |
Portfolio Company/Type of Investment (1)(2)(5)(9)(14) | Cash Interest Rate (13) | Industry | Principal (8) | Cost | Fair Value | ||||||||||||
RCPDirect, L.P. | Multi-sector holdings | ||||||||||||||||
0.9% limited partnership interest (11)(25) | $ | 354 | $ | 559 | |||||||||||||
354 | 559 | ||||||||||||||||
Riverside Fund V, L.P. | Multi-sector holdings | ||||||||||||||||
0.48% limited partnership interest (11)(25) | 1,452 | 1,405 | |||||||||||||||
1,452 | 1,405 | ||||||||||||||||
ACON Equity Partners III, LP | Multi-sector holdings | ||||||||||||||||
0.13% limited partnership interest (11)(25) | 785 | 962 | |||||||||||||||
785 | 962 | ||||||||||||||||
BMC Acquisition, Inc. | Other diversified financial services | ||||||||||||||||
500 Series A Preferred Shares | 500 | 763 | |||||||||||||||
50,000 Common Shares (6) | 1 | 67 | |||||||||||||||
501 | 830 | ||||||||||||||||
Edmentum, Inc. | Education services | ||||||||||||||||
Unsecured Senior PIK Note, 8.5% PIK due 6/9/2020 | $ | 2,434 | 2,434 | 1,922 | |||||||||||||
Unsecured Junior PIK Note, 10% PIK due 6/9/2020 (24) | 11,304 | 10,227 | 379 | ||||||||||||||
Unsecured Revolver, 5% cash due 6/9/2020 | — | — | |||||||||||||||
126,127.80 Class A Common Units | 126 | — | |||||||||||||||
12,787 | 2,301 | ||||||||||||||||
I Drive Safely, LLC | Education services | ||||||||||||||||
125,079 Class A Common Units of IDS Investments, LLC | 1,000 | — | |||||||||||||||
1,000 | — | ||||||||||||||||
Yeti Acquisition, LLC | Leisure products | ||||||||||||||||
3,000,000 Common Stock Units of Yeti Holdings, Inc. | — | 5,900 | |||||||||||||||
— | 5,900 | ||||||||||||||||
Vitalyst Holdings, Inc. | IT consulting & other services | ||||||||||||||||
675 Series A Preferred Units of PCH Support Holdings, Inc., 10% | 675 | 511 | |||||||||||||||
7,500 Class A Common Stock Units of PCH Support Holdings, Inc. | 75 | — | |||||||||||||||
750 | 511 | ||||||||||||||||
Beecken Petty O'Keefe Fund IV, L.P. | Multi-sector holdings | ||||||||||||||||
0.5% limited partnership interest (11)(25) | 1,014 | 1,310 | |||||||||||||||
1,014 | 1,310 | ||||||||||||||||
Comprehensive Pharmacy Services LLC | Pharmaceuticals | ||||||||||||||||
20,000 Common Shares in MCP CPS Group Holdings, Inc. | 2,000 | 2,776 | |||||||||||||||
2,000 | 2,776 | ||||||||||||||||
Garretson Firm Resolution Group, Inc. | Diversified support services | ||||||||||||||||
First Lien Revolver, PRIME+5.5% cash due 5/22/2020 (13) | 9.75 | % | 25 | 25 | 25 | ||||||||||||
4,950,000 Preferred Units in GRG Holdings, LP, 8% | 495 | 198 | |||||||||||||||
50,000 Common Units in GRG Holdings, LP | 5 | — | |||||||||||||||
525 | 223 | ||||||||||||||||
Teaching Strategies, LLC | Education services | ||||||||||||||||
Second Lien Term Loan, LIBOR+9.5% (1% floor) cash due 8/27/2023 (13) | 10.83 | % | 33,500 | 33,500 | 33,964 | ||||||||||||
33,500 | 33,964 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
CITGO Petroleum Corp. | Oil & Gas Refining & Marketing | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 3/28/2024 | 6.00 | % | $ | 8,979 | $ | 8,890 | $ | 8,553 | (6) | ||||||||||||||||||||
8,890 | 8,553 | ||||||||||||||||||||||||||||
Continental Intermodal Group LP | Oil & Gas Storage & Transportation | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+9.50% PIK due 1/28/2025 | 24,741 | 24,741 | 21,753 | (6)(20) | |||||||||||||||||||||||||
Common Stock Warrants expiration date 7/28/2025 | — | 1,672 | (20) | ||||||||||||||||||||||||||
24,741 | 23,425 | ||||||||||||||||||||||||||||
Convergeone Holdings, Inc. | IT Consulting & Other Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 1/4/2026 | 5.15 | % | 14,621 | 14,169 | 13,465 | (6) | |||||||||||||||||||||||
14,169 | 13,465 | ||||||||||||||||||||||||||||
Conviva Inc. | Application Software | ||||||||||||||||||||||||||||
417,851 Series D Preferred Stock Warrants (exercise price $1.1966) expiration date 2/28/2021 | 105 | 395 | (20) | ||||||||||||||||||||||||||
105 | 395 | ||||||||||||||||||||||||||||
Corrona, LLC | Health Care Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 12/13/2025 | 6.50 | % | 10,300 | 10,144 | 10,152 | (6)(20) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 12/13/2025 | — | (32) | (52) | (6)(19)(20) | |||||||||||||||||||||||||
First Lien Revolver, PRIME+4.50% cash due 12/13/2025 | 7.75 | % | 305 | 277 | 279 | (6)(19)(20) | |||||||||||||||||||||||
1,099 Class A2 Common Units in Corrona Group Holdings, L.P. | 1,038 | 1,038 | (20) | ||||||||||||||||||||||||||
11,427 | 11,417 | ||||||||||||||||||||||||||||
Coyote Buyer, LLC | Specialty Chemicals | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 2/6/2026 | 7.00 | % | 13,123 | 12,992 | 12,992 | (6)(20) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+6.00% cash due 2/6/2025 | — | (9) | (9) | (6)(19)(20) | |||||||||||||||||||||||||
12,983 | 12,983 | ||||||||||||||||||||||||||||
CTOS, LLC | Trading Companies & Distributors | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 4/18/2025 | 4.40 | % | 10,139 | 10,228 | 10,069 | (6) | |||||||||||||||||||||||
10,228 | 10,069 | ||||||||||||||||||||||||||||
Eagleview Technology Corporation | Application Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.50% cash due 8/14/2026 | 8.50 | % | 12,000 | 11,880 | 10,440 | (6)(20) | |||||||||||||||||||||||
11,880 | 10,440 | ||||||||||||||||||||||||||||
EHR Canada, LLC | Food Retail | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.00% cash due 12/4/2020 | 9.00 | % | 6,861 | 6,851 | 6,998 | (6)(20) | |||||||||||||||||||||||
6,851 | 6,998 | ||||||||||||||||||||||||||||
EOS Fitness Opco Holdings, LLC | Leisure Facilities | ||||||||||||||||||||||||||||
487.5 Class A Preferred Units, 12% | 488 | 49 | (20) | ||||||||||||||||||||||||||
12,500 Class B Common Units | — | — | (20) | ||||||||||||||||||||||||||
488 | 49 | ||||||||||||||||||||||||||||
ExamSoft Worldwide, Inc. | Application Software | ||||||||||||||||||||||||||||
180,707 Class C Units in ExamSoft Investor LLC | 181 | 500 | (20) | ||||||||||||||||||||||||||
181 | 500 | ||||||||||||||||||||||||||||
Fortress Biotech, Inc. | Biotechnology | ||||||||||||||||||||||||||||
First Lien Term Loan, 11.00% cash due 8/27/2025 | 8,346 | 7,842 | 7,908 | (11)(20) | |||||||||||||||||||||||||
243,348 Common Stock Warrants (exercise price $3.20) expiration date 8/27/2030 | 258 | 419 | (11)(20) | ||||||||||||||||||||||||||
8,100 | 8,327 | ||||||||||||||||||||||||||||
GI Chill Acquisition LLC | Managed Health Care | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.00% cash due 8/6/2025 | 4.22 | % | 17,640 | 17,552 | 17,331 | (6)(20) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.50% cash due 8/6/2026 | 7.72 | % | 10,000 | 9,927 | 9,350 | (6)(20) | |||||||||||||||||||||||
27,479 | 26,681 |
Portfolio Company/Type of Investment (1)(2)(5)(9)(14) | Cash Interest Rate (13) | Industry | Principal (8) | Cost | Fair Value | ||||||||||||
Dominion Diagnostics, LLC | Healthcare services | ||||||||||||||||
Subordinated Term Loan, 11% cash 1% PIK due 10/8/2019 (23) | $ | 19,866 | $ | 17,625 | $ | 8,534 | |||||||||||
First Lien Term Loan, LIBOR+5% (1% floor) cash due 4/8/2019 (13) | 6.30 | % | 49,414 | 37,574 | 44,592 | ||||||||||||
First Lien Revolver, LIBOR+5% (1% floor) cash due 4/8/2019 (13) | 6.30 | % | — | — | |||||||||||||
55,199 | 53,126 | ||||||||||||||||
Sterling Capital Partners IV, L.P. | Multi-sector holdings | ||||||||||||||||
0.2% limited partnership interest (11)(25) | 1,770 | 1,297 | |||||||||||||||
1,770 | 1,297 | ||||||||||||||||
Advanced Pain Management | Healthcare services | ||||||||||||||||
First Lien Term Loan, LIBOR+8.5% (1.25% floor) cash due 2/26/2018 (13)(23) | 9.75 | % | 24,000 | 23,409 | 1,157 | ||||||||||||
23,409 | 1,157 | ||||||||||||||||
TravelClick, Inc. | Internet software & services | ||||||||||||||||
Second Lien Term Loan, LIBOR+7.75% (1% floor) cash due 11/6/2021 (13) | 8.99 | % | 2,697 | 2,475 | 2,710 | ||||||||||||
2,475 | 2,710 | ||||||||||||||||
Pingora MSR Opportunity Fund I-A, LP | Thrift & mortgage finance | ||||||||||||||||
1.86% limited partnership interest (11)(25) | 7,240 | 6,129 | |||||||||||||||
7,240 | 6,129 | ||||||||||||||||
Credit Infonet, Inc. | Data processing & outsourced services | ||||||||||||||||
Subordinated Term Loan, 12.25% cash 0.75% PIK due 10/26/2020 | 13,940 | 13,940 | 13,941 | ||||||||||||||
13,940 | 13,941 | ||||||||||||||||
HealthEdge Software, Inc. | Application software | ||||||||||||||||
482,453 Series A-3 Preferred Stock Warrants (exercise price $1.450918) expiration date 9/30/2023 | 213 | 768 | |||||||||||||||
213 | 768 | ||||||||||||||||
InMotion Entertainment Group, LLC | Consumer electronics | ||||||||||||||||
First Lien Term Loan A, LIBOR+7.75% (1.25% floor) cash due 10/1/2018 (13) | 9.09 | % | 12,259 | 12,223 | 12,259 | ||||||||||||
First Lien Term Loan B, LIBOR+7.75% (1.25% floor) cash due 10/1/2018 (13) | 9.09 | % | 5,344 | 5,265 | 5,344 | ||||||||||||
First Lien Revolver, LIBOR+6.25% cash due 10/1/2018 (13) | 6.25 | % | 3,904 | 3,897 | 3,904 | ||||||||||||
CapEx Line, LIBOR+7.75% (1.25% floor) cash due 10/1/2018 (13) | 9.09 | % | 797 | 789 | 797 | ||||||||||||
1,000,000 Class A Units in InMotion Entertainment Holdings, LLC | 1,000 | 1,761 | |||||||||||||||
23,174 | 24,065 | ||||||||||||||||
Thing5, LLC | Data processing & outsourced services | ||||||||||||||||
First Lien Term Loan, LIBOR+7.5% (1% floor) cash 2% PIK due 10/11/2020 (12)(13) | 8.83 | % | 47,530 | 47,530 | 40,900 | ||||||||||||
First Lien Revolver, LIBOR+7.5% (1% floor) cash due 10/11/2020 (13) | 8.83 | % | 1,000 | 1,000 | 1,000 | ||||||||||||
2,000,000 Units in T5 Investment Vehicle, LLC | 2,000 | — | |||||||||||||||
50,530 | 41,900 | ||||||||||||||||
Kason Corporation | Industrial machinery | ||||||||||||||||
Mezzanine Term Loan, 11.5% cash 1.75% PIK due 10/28/2019 | 6,006 | 6,006 | 5,850 | ||||||||||||||
498.6 Class A Preferred Units in Kason Investment, LLC, 8% | 499 | 569 | |||||||||||||||
5,540 Class A Common Units in Kason Investment, LLC | 55 | — | |||||||||||||||
6,560 | 6,419 | ||||||||||||||||
SPC Partners V, L.P. | Multi-sector holdings | ||||||||||||||||
0.571% limited partnership interest (11)(25) | 1,762 | 1,857 | |||||||||||||||
1,762 | 1,857 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
GKD Index Partners, LLC | Specialized Finance | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 6/29/2023 | 8.00 | % | $ | 20,933 | $ | 20,818 | $ | 20,577 | (6)(20) | ||||||||||||||||||||
First Lien Revolver, LIBOR+7.00% cash due 6/29/2023 | 8.00 | % | 924 | 915 | 904 | (6)(19)(20) | |||||||||||||||||||||||
21,733 | 21,481 | ||||||||||||||||||||||||||||
Global Medical Response | Health Care Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 3/14/2025 | 5.25 | % | 6,256 | 6,152 | 6,084 | (6) | |||||||||||||||||||||||
6,152 | 6,084 | ||||||||||||||||||||||||||||
Guidehouse LLP | Research & Consulting Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 5/1/2025 | 4.65 | % | 4,949 | 4,907 | 4,912 | (6) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.00% cash due 5/1/2026 | 8.15 | % | 20,000 | 19,930 | 19,300 | (6)(20) | |||||||||||||||||||||||
24,837 | 24,212 | ||||||||||||||||||||||||||||
Gulf Operating, LLC | Oil & Gas Storage & Transportation | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.25% cash due 8/25/2023 | 6.25 | % | 3,275 | 1,874 | 2,324 | (6) | |||||||||||||||||||||||
1,874 | 2,324 | ||||||||||||||||||||||||||||
Houghton Mifflin Harcourt Publishers Inc. | Education Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.25% cash due 11/22/2024 | 7.25 | % | 6,738 | 6,508 | 6,300 | (6)(11) | |||||||||||||||||||||||
6,508 | 6,300 | ||||||||||||||||||||||||||||
I Drive Safely, LLC | Education Services | ||||||||||||||||||||||||||||
125,079 Class A Common Units of IDS Investments, LLC | 1,000 | 200 | (20) | ||||||||||||||||||||||||||
1,000 | 200 | ||||||||||||||||||||||||||||
IBG Borrower LLC | Apparel, Accessories & Luxury Goods | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 8/2/2022 | 7.25 | % | 9,056 | 8,569 | 7,856 | (6)(20) | |||||||||||||||||||||||
8,569 | 7,856 | ||||||||||||||||||||||||||||
iCIMs, Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 9/12/2024 | 7.50 | % | 16,718 | 16,493 | 16,584 | (6)(20) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+6.50% cash due 9/12/2024 | — | (15) | (7) | (6)(19)(20) | |||||||||||||||||||||||||
16,478 | 16,577 | ||||||||||||||||||||||||||||
Immucor, Inc. | Health Care Supplies | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.75% cash due 7/2/2025 | 6.75 | % | 6,477 | 6,354 | 6,347 | (6)(20) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+5.75% cash due 7/2/2025 | — | (10) | (11) | (6)(19)(20) | |||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.00% cash 3.50% PIK due 10/2/2025 | 9.00 | % | 15,611 | 15,316 | 15,298 | (6)(20) | |||||||||||||||||||||||
21,660 | 21,634 | ||||||||||||||||||||||||||||
Integral Development Corporation | Other Diversified Financial Services | ||||||||||||||||||||||||||||
1,078,284 Common Stock Warrants (exercise price $0.9274) expiration date 7/10/2024 | 113 | — | (20) | ||||||||||||||||||||||||||
113 | — | ||||||||||||||||||||||||||||
L Squared Capital Partners LLC | Multi-Sector Holdings | ||||||||||||||||||||||||||||
2.00% limited partnership interest | 887 | 2,192 | (11)(16) | ||||||||||||||||||||||||||
887 | 2,192 | ||||||||||||||||||||||||||||
Lanai Holdings III, Inc. | Health Care Distributors | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.75% cash due 8/29/2022 | 5.75 | % | 12,948 | 12,810 | 12,260 | (6) | |||||||||||||||||||||||
12,810 | 12,260 | ||||||||||||||||||||||||||||
Lannett Company, Inc. | Pharmaceuticals | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 11/25/2020 | 6.00 | % | 460 | 460 | 456 | (6)(11) | |||||||||||||||||||||||
460 | 456 |
Portfolio Company/Type of Investment (1)(2)(5)(9)(14) | Cash Interest Rate (13) | Industry | Principal (8) | Cost | Fair Value | ||||||||||||
P2 Upstream Acquisition Co. | Application software | ||||||||||||||||
First Lien Revolver, LIBOR+4% (1% floor) cash due 11/1/2018 (10)(13) | 5.33 | % | $ | — | $ | (238 | ) | ||||||||||
— | (238 | ) | |||||||||||||||
OmniSYS Acquisition Corporation | Diversified support services | ||||||||||||||||
First Lien Term Loan, LIBOR+7.5% (1% floor) cash due 11/21/2018 (13) | 8.83 | % | $ | 5,500 | 5,495 | 5,468 | |||||||||||
First Lien Revolver, LIBOR+7.5% (1% floor) cash due 11/21/2018 (10)(13) | 8.83 | % | — | (15 | ) | ||||||||||||
100,000 Common Units in OSYS Holdings, LLC | 1,000 | 903 | |||||||||||||||
6,495 | 6,356 | ||||||||||||||||
Moelis Capital Partners Opportunity Fund I-B, LP | Multi-sector holdings | ||||||||||||||||
1.0% limited partnership interest (11)(25) | 1,045 | 1,457 | |||||||||||||||
1,045 | 1,457 | ||||||||||||||||
Aden & Anais Merger Sub, Inc. | Apparel, accessories & luxury goods | ||||||||||||||||
51,645 Common Units in Aden & Anais Holdings, Inc. | 5,165 | 1,241 | |||||||||||||||
5,165 | 1,241 | ||||||||||||||||
Lift Brands, Inc. | Leisure facilities | ||||||||||||||||
First Lien Term Loan, LIBOR+7.5% (1% floor) cash due 12/23/2019 (13) | 8.83 | % | 21,371 | 21,358 | 21,370 | ||||||||||||
First Lien Revolver, LIBOR+7.5% (1% floor) cash due 12/23/2019 (10)(13) | 8.83 | % | (3 | ) | (1 | ) | |||||||||||
2,000,000 Class A Common Units in Snap Investments, LLC | 2,004 | 2,922 | |||||||||||||||
23,359 | 24,291 | ||||||||||||||||
Tailwind Capital Partners II, L.P. | Multi-sector holdings | ||||||||||||||||
0.3% limited partnership interest (11)(25) | 1,583 | 1,956 | |||||||||||||||
1,583 | 1,956 | ||||||||||||||||
Long's Drugs Incorporated | Pharmaceuticals | ||||||||||||||||
Second Lien Term Loan, LIBOR+11.25% cash due 2/19/2022 (13) | 12.49 | % | 26,909 | 26,909 | 27,447 | ||||||||||||
50 Series A Preferred Shares in Long's Drugs Incorporated | 813 | 1,267 | |||||||||||||||
27,722 | 28,714 | ||||||||||||||||
Conviva Inc. | Application software | ||||||||||||||||
417,851 Series D Preferred Stock Warrants (exercise price $1.1966) expiration date 2/28/2021 | 105 | 169 | |||||||||||||||
105 | 169 | ||||||||||||||||
OnCourse Learning Corporation | Education services | ||||||||||||||||
264,312 Class A Units in CIP OCL Investments, LLC | 2,726 | 1,988 | |||||||||||||||
2,726 | 1,988 | ||||||||||||||||
ShareThis, Inc. | Internet software & services | ||||||||||||||||
345,452 Series C Preferred Stock Warrants (exercise price $3.0395) expiration date 3/4/2024 | 367 | 8 | |||||||||||||||
367 | 8 | ||||||||||||||||
Aptean, Inc. | Internet software & services | ||||||||||||||||
Second Lien Term Loan, LIBOR+9.5% (1% floor) cash due 12/20/2023 (13) | 10.84 | % | 5,900 | 5,821 | 5,952 | ||||||||||||
5,821 | 5,952 | ||||||||||||||||
ExamSoft Worldwide, Inc. | Internet software & services | ||||||||||||||||
180,707 Class C Units in ExamSoft Investor LLC | 181 | 135 | |||||||||||||||
181 | 135 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Lift Brands Holdings, Inc. | Leisure Facilities | ||||||||||||||||||||||||||||
2,000,000 Class A Common Units in Snap Investments, LLC | $ | 1,399 | $ | — | (20) | ||||||||||||||||||||||||
1,399 | — | ||||||||||||||||||||||||||||
Lightbox Intermediate, L.P. | Real Estate Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 5/9/2026 | 5.15 | % | $ | 39,500 | 39,023 | 37,723 | (6)(20) | ||||||||||||||||||||||
39,023 | 37,723 | ||||||||||||||||||||||||||||
LogMeIn, Inc. | Application Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+9.00% cash due 8/31/2028 | 9.16 | % | 9,293 | 8,831 | 9,247 | (6) | |||||||||||||||||||||||
8,831 | 9,247 | ||||||||||||||||||||||||||||
LTI Holdings, Inc. | Electronic Components | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.75% cash due 7/24/2026 | 4.90 | % | 1,794 | 1,513 | 1,685 | (6) | |||||||||||||||||||||||
First Lien Term Loan, LIBOR+3.50% cash due 9/6/2025 | 3.65 | % | 18,082 | 15,087 | 16,884 | (6) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+6.75% cash due 9/6/2026 | 6.90 | % | 9,000 | 9,000 | 7,983 | (6) | |||||||||||||||||||||||
25,600 | 26,552 | ||||||||||||||||||||||||||||
Maravai Intermediate Holdings, LLC | Biotechnology | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 8/1/2025 | 5.25 | % | 11,760 | 11,642 | 11,789 | (6)(20) | |||||||||||||||||||||||
11,642 | 11,789 | ||||||||||||||||||||||||||||
Mauser Packaging Solutions Holding Company | Metal & Glass Containers | ||||||||||||||||||||||||||||
Fixed Rate Bond, 8.50% cash due 4/15/2024 | 11,378 | 11,273 | 11,833 | ||||||||||||||||||||||||||
11,273 | 11,833 | ||||||||||||||||||||||||||||
Mayfield Agency Borrower Inc. | Property & Casualty Insurance | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 2/28/2025 | 4.65 | % | 28,823 | 28,045 | 26,679 | (6) | |||||||||||||||||||||||
28,045 | 26,679 | ||||||||||||||||||||||||||||
McAfee, LLC | Systems Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.50% cash due 9/29/2025 | 9.50 | % | 7,000 | 7,028 | 7,074 | (6) | |||||||||||||||||||||||
7,028 | 7,074 | ||||||||||||||||||||||||||||
MHE Intermediate Holdings, LLC | Diversified Support Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 3/8/2024 | 6.00 | % | 2,910 | 2,888 | 2,832 | (6)(20) | |||||||||||||||||||||||
2,888 | 2,832 | ||||||||||||||||||||||||||||
Mindbody, Inc. | Internet Services & Infrastructure | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash 1.5% PIK due 2/14/2025 | 8.00 | % | 29,097 | 28,675 | 26,828 | (6)(20) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+8.00% cash due 2/14/2025 | — | (44) | (241) | (6)(19)(20) | |||||||||||||||||||||||||
28,631 | 26,587 | ||||||||||||||||||||||||||||
Ministry Brands, LLC | Application Software | ||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.00% cash due 12/2/2022 | 6.00 | % | 575 | 566 | 566 | (6)(19)(20) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+9.25% cash due 6/2/2023 | 10.25 | % | 9,000 | 8,934 | 8,923 | (6)(20) | |||||||||||||||||||||||
9,500 | 9,489 | ||||||||||||||||||||||||||||
MRI Software LLC | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026 | 6.50 | % | 14,369 | 14,242 | 14,022 | (6)(20) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 2/10/2026 | — | (59) | (144) | (6)(19)(20) | |||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.50% cash due 2/10/2026 | — | (13) | (31) | (6)(19)(20) | |||||||||||||||||||||||||
14,170 | 13,847 |
Portfolio Company/Type of Investment (1)(2)(5)(9)(14) | Cash Interest Rate (13) | Industry | Principal (8) | Cost | Fair Value | ||||||||||||
DigiCert, Inc. | Internet software & services | ||||||||||||||||
Second Lien Term Loan, LIBOR+9% (1% floor) cash due 10/21/2022 (13) | 10.24 | % | $ | 61,500 | $ | 60,980 | $ | 61,500 | |||||||||
60,980 | 61,500 | ||||||||||||||||
RCPDirect II, LP | Multi-sector holdings | ||||||||||||||||
0.4% limited partnership interest (11)(25) | 617 | 719 | |||||||||||||||
617 | 719 | ||||||||||||||||
Integral Development Corporation | Other diversified financial services | ||||||||||||||||
First Lien Term Loan, LIBOR+9.5% (1% floor) cash due 7/10/2019 (13) | 10.80 | % | 11,500 | 11,466 | 10,815 | ||||||||||||
1,078,284 Common Stock Warrants (exercise price $0.9274) expiration date 7/10/2024 | 113 | — | |||||||||||||||
11,579 | 10,815 | ||||||||||||||||
Loftware, Inc. | Internet software & services | ||||||||||||||||
Mezzanine Term Loan, 11% cash 1% PIK due 7/18/2020 | 6,198 | 6,198 | 6,198 | ||||||||||||||
300,000 Class A Common Units in RPLF Holdings, LLC | 300 | 220 | |||||||||||||||
6,498 | 6,418 | ||||||||||||||||
Webster Capital III, L.P. | Multi-sector holdings | ||||||||||||||||
0.754% limited partnership interest (11)(25) | 1,020 | 1,296 | |||||||||||||||
1,020 | 1,296 | ||||||||||||||||
L Squared Capital Partners LLC | Multi-sector holdings | ||||||||||||||||
2% limited partnership interest (11)(25) | 2,660 | 2,660 | |||||||||||||||
2,660 | 2,660 | ||||||||||||||||
BeyondTrust Software, Inc. | Application software | ||||||||||||||||
First Lien Term Loan, LIBOR+7% (1% floor) cash due 9/25/2019 (13) | 8.33 | % | 26,677 | 26,174 | 26,676 | ||||||||||||
First Lien Revolver, LIBOR+7% (1% floor) cash due 9/25/2019 (10)(13) | 8.33 | % | (54 | ) | — | ||||||||||||
4,500,000 Class A membership interests in BeyondTrust Holdings LLC | 4,500 | 5,660 | |||||||||||||||
30,620 | 32,336 | ||||||||||||||||
GOBP Holdings Inc. | Food retail | ||||||||||||||||
Second Lien Term Loan, LIBOR+8.25% (1% floor) cash due 10/21/2022 (13) | 9.58 | % | 4,214 | 4,176 | 4,251 | ||||||||||||
4,176 | 4,251 | ||||||||||||||||
Kellermeyer Bergensons Services, LLC | Diversified support services | ||||||||||||||||
Second Lien Term Loan, LIBOR+8.50% (1% floor) cash due 4/29/2022 (13) | 9.81 | % | 6,105 | 5,907 | 5,983 | ||||||||||||
5,907 | 5,983 | ||||||||||||||||
Dodge Data & Analytics LLC | Data processing & outsourced services | ||||||||||||||||
First Lien Term Loan, LIBOR+8.75% (1% floor) cash due 10/31/2019 (13) | 10.13 | % | 7,348 | 7,348 | 6,881 | ||||||||||||
500,000 Class A Common Units in Skyline Data, News and Analytics LLC | 500 | 202 | |||||||||||||||
7,848 | 7,083 | ||||||||||||||||
Metamorph US 3, LLC | Internet software & services | ||||||||||||||||
First Lien Term Loan, LIBOR+5.5% (1% floor) cash 2% PIK due 12/1/2020 (13)(23) | 6.74 | % | 9,969 | 9,550 | 3,816 | ||||||||||||
First Lien Revolver, LIBOR+6.5% (1% floor) cash due 12/1/2020 (10)(13)(23) | 7.74 | % | 2,205 | 2,203 | (74 | ) | |||||||||||
11,753 | 3,742 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
NeuAG, LLC | Fertilizers & Agricultural Chemicals | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash 7.00% PIK due 9/11/2024 | 7.00 | % | $ | 35,306 | $ | 33,918 | $ | 33,894 | (6)(20) | ||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash 7.00% PIK due 9/11/2024 | — | (175) | (175) | (6)(19)(20) | |||||||||||||||||||||||||
33,743 | 33,719 | ||||||||||||||||||||||||||||
NuStar Logistics, L.P. | Oil & Gas Refining & Marketing | ||||||||||||||||||||||||||||
Unsecured Delayed Draw Term Loan, 12.00% cash due 4/19/2023 | — | — | — | (19)(20) | |||||||||||||||||||||||||
— | — | ||||||||||||||||||||||||||||
Olaplex, Inc. | Personal Products | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 1/8/2026 | 7.50 | % | 35,056 | 34,441 | 35,056 | (6)(20) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+6.50% cash due 1/8/2025 | 7.50 | % | 1,917 | 1,852 | 1,917 | (6)(19)(20) | |||||||||||||||||||||||
36,293 | 36,973 | ||||||||||||||||||||||||||||
OmniSYS Acquisition Corporation | Diversified Support Services | ||||||||||||||||||||||||||||
100,000 Common Units in OSYS Holdings, LLC | 1,000 | 607 | (20) | ||||||||||||||||||||||||||
1,000 | 607 | ||||||||||||||||||||||||||||
Onvoy, LLC | Integrated Telecommunication Services | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+10.50% cash due 2/10/2025 | 11.50 | % | 16,750 | 16,750 | 15,142 | (6)(20) | |||||||||||||||||||||||
19,666.67 Class A Units in GTCR Onvoy Holdings, LLC | 1,967 | 268 | (20) | ||||||||||||||||||||||||||
13,664.73 Series 3 Class B Units in GTCR Onvoy Holdings, LLC | — | — | (20) | ||||||||||||||||||||||||||
18,717 | 15,410 | ||||||||||||||||||||||||||||
OZLM Funding III, Ltd. | Multi-Sector Holdings | ||||||||||||||||||||||||||||
Class DR Notes, LIBOR+7.77% cash due 1/22/2029 | 8.03 | % | 2,312 | 1,657 | 2,119 | (6)(11) | |||||||||||||||||||||||
1,657 | 2,119 | ||||||||||||||||||||||||||||
PaySimple, Inc. | Data Processing & Outsourced Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 8/23/2025 | 5.65 | % | 49,535 | 48,711 | 47,801 | (6)(20) | |||||||||||||||||||||||
48,711 | 47,801 | ||||||||||||||||||||||||||||
Pingora MSR Opportunity Fund I-A, LP | Thrifts & Mortgage Finance | ||||||||||||||||||||||||||||
1.86% limited partnership interest | 938 | 353 | (11)(16)(19) | ||||||||||||||||||||||||||
938 | 353 | ||||||||||||||||||||||||||||
PLATO Learning Inc. | Education Services | ||||||||||||||||||||||||||||
Unsecured Senior PIK Note, 8.50% PIK due 12/9/2021 | 3,099 | 2,434 | — | (15)(20) | |||||||||||||||||||||||||
Unsecured Junior PIK Note, 10.00% PIK due 12/9/2021 | 15,010 | 10,227 | — | (15)(20) | |||||||||||||||||||||||||
Unsecured Revolver, 5.00% cash due 12/9/2021 | 2,938 | 2,631 | 588 | (20)(21) | |||||||||||||||||||||||||
126,127.80 Class A Common Units of Edmentum | 126 | — | (20) | ||||||||||||||||||||||||||
15,418 | 588 | ||||||||||||||||||||||||||||
ProFrac Services, LLC | Industrial Machinery | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.50% cash due 9/15/2023 | 8.75 | % | 15,170 | 15,081 | 11,643 | (6)(20) | |||||||||||||||||||||||
15,081 | 11,643 | ||||||||||||||||||||||||||||
Project Boost Purchaser, LLC | Application Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.00% cash due 5/9/2027 | 8.15 | % | 3,750 | 3,750 | 3,375 | (6)(20) | |||||||||||||||||||||||
3,750 | 3,375 |
Portfolio Company/Type of Investment (1)(2)(5)(9)(14) | Cash Interest Rate (13) | Industry | Principal (8) | Cost | Fair Value | ||||||||||||
Schulman Associates Institutional Board Review, Inc. | Research & consulting services | ||||||||||||||||
Second Lien Term Loan, LIBOR+8% (1% floor) cash due 6/3/2021 (13) | 9.30 | % | $ | 17,000 | $ | 17,000 | $ | 17,000 | |||||||||
17,000 | 17,000 | ||||||||||||||||
Janrain, Inc. | Internet software & services | ||||||||||||||||
218,008 Common Stock Warrants (exercise price $1.3761) expiration date 12/5/2024 | 45 | — | |||||||||||||||
45 | — | ||||||||||||||||
TigerText, Inc. | Internet software & services | ||||||||||||||||
299,110 Series B Preferred Stock Warrants (exercise price $1.3373) expiration date 12/8/2024 | 60 | 409 | |||||||||||||||
60 | 409 | ||||||||||||||||
Survey Sampling International, LLC | Research & consulting services | ||||||||||||||||
Second Lien Term Loan, LIBOR+9% (1% floor) cash due 12/16/2021 (13) | 10.27 | % | 18,700 | 18,475 | 18,513 | ||||||||||||
18,475 | 18,513 | ||||||||||||||||
PSC Industrial Holdings Corp. | Diversified support services | ||||||||||||||||
Second Lien Term Loan, LIBOR+8.25% (1% floor) cash due 12/3/2021 (13) | 9.49 | % | 7,000 | 6,839 | 7,000 | ||||||||||||
6,839 | 7,000 | ||||||||||||||||
EOS Fitness Opco Holdings, LLC | Leisure facilities | ||||||||||||||||
First Lien Term Loan, LIBOR+8.75% (0.75% floor) cash due 12/30/2019 (13) | 9.99 | % | 3,675 | 3,675 | 3,711 | ||||||||||||
First Lien Revolver, LIBOR+8.75% (0.75% floor) cash due 12/30/2019 (13) | 9.99 | % | — | 50 | |||||||||||||
487.5 Class A Preferred Units, 12% | 488 | 678 | |||||||||||||||
12,500 Class B Common Units | 13 | 463 | |||||||||||||||
4,176 | 4,902 | ||||||||||||||||
Motion Recruitment Partners LLC | Human resources & employment services | ||||||||||||||||
First Lien Revolver, LIBOR+6% (1% floor) cash due 2/13/2020 (10)(13) | 7.24 | % | (6 | ) | — | ||||||||||||
(6 | ) | — | |||||||||||||||
WeddingWire, Inc. | Internet software & services | ||||||||||||||||
First Lien Term Loan, LIBOR+8.5% (1% floor) cash due 2/20/2020 (13) | 9.84 | % | 25,781 | 25,781 | 25,911 | ||||||||||||
First Lien Revolver, LIBOR+8.5% (1% floor) cash due 2/20/2020 (13) | 9.84 | % | — | 15 | |||||||||||||
483,645 Common Shares of WeddingWire, Inc. | 1,200 | 1,607 | |||||||||||||||
26,981 | 27,533 | ||||||||||||||||
xMatters, Inc. | Internet software & services | ||||||||||||||||
600,000 Common Stock Warrants (exercise price $0.593333) expiration date 2/26/2025 | 709 | 368 | |||||||||||||||
709 | 368 | ||||||||||||||||
Edge Fitness, LLC | Leisure facilities | ||||||||||||||||
Delayed Draw Term Loan, LIBOR+7.75% (1% floor) cash due 6/30/2020 (13) | 9.05 | % | 3,398 | 3,398 | 3,397 | ||||||||||||
3,398 | 3,397 | ||||||||||||||||
Golden State Medical Supply, Inc. | Pharmaceuticals | ||||||||||||||||
Mezzanine Term Loan, 10% cash 2.5% PIK due 4/24/2021 | 15,001 | 15,001 | 14,835 | ||||||||||||||
15,001 | 14,835 | ||||||||||||||||
AirStrip Technologies, Inc. | Internet software & services | ||||||||||||||||
22,858.71 Series C-1 Preferred Stock Warrants (exercise price $34.99757) expiration date 5/11/2025 | 90 | — | |||||||||||||||
90 | — |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Pug LLC | Internet & Direct Marketing Retail | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.00% cash due 2/12/2027 | 8.75 | % | $ | 15,740 | $ | 14,802 | $ | 15,307 | (6) | ||||||||||||||||||||
14,802 | 15,307 | ||||||||||||||||||||||||||||
QuorumLabs, Inc. | Application Software | ||||||||||||||||||||||||||||
64,887,669 Junior-2 Preferred Stock | 375 | — | (20) | ||||||||||||||||||||||||||
375 | — | ||||||||||||||||||||||||||||
Refac Optical Group | Specialty Stores | ||||||||||||||||||||||||||||
1,550.9435 Shares of Common Stock in Refac Holdings, Inc. | 1 | — | (20) | ||||||||||||||||||||||||||
550.9435 Series A-2 Preferred Stock in Refac Holdings, Inc., 10% | 305 | — | (20) | ||||||||||||||||||||||||||
1,000 Series A-1 Preferred Stock in Refac Holdings, Inc., 10% | 999 | — | (20) | ||||||||||||||||||||||||||
1,305 | — | ||||||||||||||||||||||||||||
Salient CRGT, Inc. | Aerospace & Defense | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 2/28/2022 | 7.50 | % | 2,955 | 2,938 | 2,748 | (6)(20) | |||||||||||||||||||||||
2,938 | 2,748 | ||||||||||||||||||||||||||||
Scilex Pharmaceuticals Inc. | Pharmaceuticals | ||||||||||||||||||||||||||||
Fixed Rate Zero Coupon Bond due 8/15/2026 | 15,585 | 12,069 | 12,468 | (20) | |||||||||||||||||||||||||
12,069 | 12,468 | ||||||||||||||||||||||||||||
ShareThis, Inc. | Application Software | ||||||||||||||||||||||||||||
345,452 Series C Preferred Stock Warrants (exercise price $3.0395) expiration date 3/4/2024 | 367 | — | (20) | ||||||||||||||||||||||||||
367 | — | ||||||||||||||||||||||||||||
Sorrento Therapeutics, Inc. | Biotechnology | ||||||||||||||||||||||||||||
125,000 Common Stock Warrants (exercise price $3.94) expiration date 11/3/2029 | — | 1,123 | (11)(20) | ||||||||||||||||||||||||||
— | 1,123 | ||||||||||||||||||||||||||||
Supermoose Borrower, LLC | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025 | 3.90 | % | 10,196 | 8,925 | 9,193 | (6) | |||||||||||||||||||||||
8,925 | 9,193 | ||||||||||||||||||||||||||||
Surgery Center Holdings, Inc. | Health Care Facilities | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+3.25% cash due 9/3/2024 | 4.25 | % | 3,850 | 3,133 | 3,640 | (6)(11) | |||||||||||||||||||||||
3,133 | 3,640 | ||||||||||||||||||||||||||||
Swordfish Merger Sub LLC | Auto Parts & Equipment | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+6.75% cash due 2/2/2026 | 7.75 | % | 12,500 | 12,458 | 10,563 | (6)(20) | |||||||||||||||||||||||
12,458 | 10,563 | ||||||||||||||||||||||||||||
Tacala, LLC | Restaurants | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.50% cash due 2/4/2028 | 7.65 | % | 7,276 | 7,167 | 6,903 | (6) | |||||||||||||||||||||||
7,167 | 6,903 | ||||||||||||||||||||||||||||
TerSera Therapeutics LLC | Pharmaceuticals | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+9.50% cash due 3/30/2024 | 10.50 | % | 29,663 | 29,236 | 29,371 | (6)(20) | |||||||||||||||||||||||
668,879 Common Units of TerSera Holdings LLC | 2,192 | 3,487 | (20) | ||||||||||||||||||||||||||
31,428 | 32,858 | ||||||||||||||||||||||||||||
TIBCO Software Inc. | Application Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.25% cash due 3/3/2028 | 7.40 | % | 15,000 | 14,925 | 14,766 | (6) | |||||||||||||||||||||||
14,925 | 14,766 | ||||||||||||||||||||||||||||
TigerConnect, Inc. | Application Software | ||||||||||||||||||||||||||||
299,110 Series B Preferred Stock Warrants (exercise price $1.3373) expiration date 12/8/2024 | 60 | 525 | (20) | ||||||||||||||||||||||||||
60 | 525 | ||||||||||||||||||||||||||||
Transact Holdings Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.75% cash due 4/30/2026 | 4.90 | % | 6,930 | 6,826 | 6,553 | (6)(20) | |||||||||||||||||||||||
6,826 | 6,553 |
Portfolio Company/Type of Investment (1)(2)(5)(9)(14) | Cash Interest Rate (13) | Industry | Principal (8) | Cost | Fair Value | ||||||||||||
Access Medical Acquisition, Inc. | Healthcare services | ||||||||||||||||
450,000 Shares of Class A Common Stock in CMG Holding Company, LLC (6) | $ | 151 | $ | 970 | |||||||||||||
151 | 970 | ||||||||||||||||
QuorumLabs, Inc. | Internet software & services | ||||||||||||||||
2,727,939 Common Stock Warrants (exercise price $0.0001) expiration date 7/8/2025 | 375 | — | |||||||||||||||
375 | — | ||||||||||||||||
Poseidon Merger Sub, Inc. | Advertising | ||||||||||||||||
Second Lien Term Loan, LIBOR+8.5% (1% floor) cash due 8/15/2023 (13) | 9.81 | % | $ | 30,000 | 29,101 | 30,300 | |||||||||||
29,101 | 30,300 | ||||||||||||||||
Valet Merger Sub, Inc. | Environmental & facilities services | ||||||||||||||||
First Lien Term Loan, LIBOR+7% (1% floor) cash due 9/24/2021 (13) | 8.24 | % | 50,661 | 50,016 | 50,660 | ||||||||||||
First Lien Revolver, LIBOR+7% (1% floor) cash due 9/24/2021 (10)(13) | 8.24 | % | — | (115 | ) | — | |||||||||||
49,901 | 50,660 | ||||||||||||||||
Argon Medical Devices, Inc. | Healthcare equipment | ||||||||||||||||
Second Lien Term Loan, LIBOR+9.5% (1% floor) cash due 6/23/2022 (13) | 10.74 | % | 43,000 | 43,000 | 43,002 | ||||||||||||
43,000 | 43,002 | ||||||||||||||||
Lytx, Inc. | Research & consulting services | ||||||||||||||||
3,500 Class A Units in Lytx Holdings, LLC | 2,478 | 2,459 | |||||||||||||||
3,500 Class B Units in Lytx Holdings, LLC | — | 559 | |||||||||||||||
2,478 | 3,018 | ||||||||||||||||
Onvoy, LLC | Integrated telecommunication services | ||||||||||||||||
Second Lien Term Loan, LIBOR+10.5% (1% floor) cash due 2/10/2025 (13) | 11.83 | % | 16,750 | 16,750 | 16,704 | ||||||||||||
19,666.67 Class A Units in GTCR Onvoy Holdings, LLC | 1,967 | 2,088 | |||||||||||||||
13,664.73 Series 3 Class B Units in GTCR Onvoy Holdings, LLC | — | — | |||||||||||||||
18,717 | 18,792 | ||||||||||||||||
4 Over International, LLC | Commercial printing | ||||||||||||||||
First Lien Term Loan, LIBOR+6% (1% floor) cash due 6/7/2022 (13) | 7.24 | % | 6,045 | 6,001 | 6,045 | ||||||||||||
First Lien Revolver, LIBOR+6% (1% floor) cash due 6/7/2021 (10)(13) | 7.24 | % | (17 | ) | — | ||||||||||||
5,984 | 6,045 | ||||||||||||||||
Ping Identity Corporation | Internet software & services | ||||||||||||||||
First Lien Term Loan, LIBOR+9.25% (1% floor) cash due 6/30/2021 (13) | 10.49 | % | 42,500 | 41,557 | 43,176 | ||||||||||||
First Lien Revolver, LIBOR+9.25% (1% floor) cash due 6/30/2021 (10)(13) | 10.49 | % | (55 | ) | 40 | ||||||||||||
41,502 | 43,216 | ||||||||||||||||
Ancile Solutions, Inc. | Internet software & services | ||||||||||||||||
First Lien Term Loan, LIBOR+7% (1% floor) cash due 6/30/2021 (13) | 8.33 | % | 10,330 | 10,104 | 10,248 | ||||||||||||
10,104 | 10,248 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Truck Hero, Inc. | Auto Parts & Equipment | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.25% cash due 4/21/2025 | 9.25 | % | $ | 21,500 | $ | 21,191 | $ | 20,819 | (6)(20) | ||||||||||||||||||||
21,191 | 20,819 | ||||||||||||||||||||||||||||
U.S. Renal Care, Inc. | Health Care Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 6/26/2026 | 5.15 | % | 1,122 | 934 | 1,096 | (6) | |||||||||||||||||||||||
934 | 1,096 | ||||||||||||||||||||||||||||
Uniti Group Inc. | Specialized REITs | ||||||||||||||||||||||||||||
21,072 Common Units | — | 133 | 222 | (11)(12) | |||||||||||||||||||||||||
133 | 222 | ||||||||||||||||||||||||||||
Verscend Holding Corp. | Health Care Technology | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 8/27/2025 | 4.65 | % | 14,525 | 14,479 | 14,429 | (6) | |||||||||||||||||||||||
Fixed Rate Bond, 9.75% cash due 8/15/2026 | 7,000 | 7,020 | 7,629 | ||||||||||||||||||||||||||
21,499 | 22,058 | ||||||||||||||||||||||||||||
Vertex Aerospace Services Corp. | Aerospace & Defense | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 6/29/2025 | 4.65 | % | 10,168 | 10,133 | 10,073 | (6) | |||||||||||||||||||||||
10,133 | 10,073 | ||||||||||||||||||||||||||||
Vitalyst Holdings, Inc. | IT Consulting & Other Services | ||||||||||||||||||||||||||||
675 Series A Preferred Stock Units | 675 | 440 | (20) | ||||||||||||||||||||||||||
7,500 Class A Common Stock Units | 75 | — | (20) | ||||||||||||||||||||||||||
750 | 440 | ||||||||||||||||||||||||||||
William Morris Endeavor Entertainment, LLC | Movies & Entertainment | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.50% cash due 5/18/2025 | 9.50 | % | 33,298 | 31,594 | 33,298 | (6)(20) | |||||||||||||||||||||||
31,594 | 33,298 | ||||||||||||||||||||||||||||
Windstream Services II, LLC | Integrated Telecommunication Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.25% cash due 9/21/2027 | 7.25 | % | 25,935 | 24,900 | 25,168 | (6) | |||||||||||||||||||||||
6,129 Shares of Common Stock in Windstream Holdings II, LLC | 53 | 69 | (20) | ||||||||||||||||||||||||||
37,215 Warrants in Windstream Holdings II, LLC | 913 | 444 | (20) | ||||||||||||||||||||||||||
25,866 | 25,681 | ||||||||||||||||||||||||||||
WP CPP Holdings, LLC | Aerospace & Defense | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026 | 8.75 | % | 15,000 | 14,893 | 11,700 | (6)(20) | |||||||||||||||||||||||
14,893 | 11,700 | ||||||||||||||||||||||||||||
WPEngine, Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 3/27/2026 | 7.50 | % | 14,188 | 13,863 | 13,949 | (6)(20) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+6.50% cash due 3/27/2026 | — | (602) | (443) | (6)(19)(20) | |||||||||||||||||||||||||
13,261 | 13,506 | ||||||||||||||||||||||||||||
xMatters, Inc. | Application Software | ||||||||||||||||||||||||||||
600,000 Common Stock Warrants (exercise price $0.593333) expiration date 2/26/2025 | 709 | 336 | (20) | ||||||||||||||||||||||||||
709 | 336 | ||||||||||||||||||||||||||||
Zep Inc. | Specialty Chemicals | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.00% cash due 8/12/2024 | 5.00 | % | 1,955 | 1,895 | 1,845 | (6) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.25% cash due 8/11/2025 | 9.25 | % | 30,000 | 29,908 | 24,180 | (6)(20) | |||||||||||||||||||||||
31,803 | 26,025 | ||||||||||||||||||||||||||||
Zephyr Bidco Limited | Specialized Finance | ||||||||||||||||||||||||||||
Second Lien Term Loan, UK LIBOR+7.50% cash due 7/23/2026 | 7.55 | % | £ | 18,000 | 23,705 | 21,176 | (6)(11) | ||||||||||||||||||||||
23,705 | 21,176 | ||||||||||||||||||||||||||||
Total Non-Control/Non-Affiliate Investments (149.3% of net assets) | $ | 1,415,669 | $ | 1,365,957 |
Portfolio Company/Type of Investment (1)(2)(5)(9)(14) | Cash Interest Rate (13) | Industry | Principal (8) | Cost | Fair Value | ||||||||||||
Ministry Brands, LLC | Internet software & services | ||||||||||||||||
First Lien Term Loan, LIBOR+5% (1% floor) cash due 12/2/2022 (13) | 6.24 | % | $ | 3,891 | $ | 3,857 | $ | 3,891 | |||||||||
First Lien Delayed Draw Term Loan, LIBOR+5% (1% floor) cash due 12/2/2022 (13) | 6.24 | % | 1,352 | 1,336 | 1,352 | ||||||||||||
Second Lien Term Loan, LIBOR+9.25% (1% floor) cash due 6/2/2023 (13) | 10.49 | % | 7,056 | 6,964 | 7,056 | ||||||||||||
Second Lien Delayed Draw Term Loan, LIBOR+9.25% (1% floor) cash due 6/2/2023 (13) | 10.49 | % | 1,944 | 1,918 | 1,944 | ||||||||||||
First Lien Revolver LIBOR+5% (1% floor) cash due 12/2/2022 (10)(13) | 6.24 | % | — | (9 | ) | — | |||||||||||
14,066 | 14,243 | ||||||||||||||||
Sailpoint Technologies, Inc. | Application software | ||||||||||||||||
First Lien Term Loan, LIBOR+7% (1% floor) cash due 8/16/2021 (13) | 8.33 | % | 20,870 | 20,529 | 20,870 | ||||||||||||
First Lien Revolver, LIBOR+7% (1% floor) cash due 8/16/2021 (10)(13) | 8.33 | % | (22 | ) | — | ||||||||||||
20,507 | 20,870 | ||||||||||||||||
California Pizza Kitchen, Inc. | Restaurants | ||||||||||||||||
First Lien Term Loan, LIBOR+6% (1% floor) cash due 8/23/2022 (13) | 7.24 | % | 4,950 | 4,910 | 4,917 | ||||||||||||
4,910 | 4,917 | ||||||||||||||||
Aptos, Inc. | Data processing & outsourced services | ||||||||||||||||
First Lien Term Loan B, LIBOR+6.75% (1% floor) cash due 9/1/2022 (13) | 8.08 | % | 5,445 | 5,354 | 5,391 | ||||||||||||
5,354 | 5,391 | ||||||||||||||||
SPC Partners VI, L.P. | Multi-sector holdings | ||||||||||||||||
0.39% limited partnership interest (11)(25) | — | — | |||||||||||||||
— | — | ||||||||||||||||
Impact Sales, LLC | Advertising | ||||||||||||||||
First Lien Term Loan, LIBOR+7% (1% floor) cash due 12/30/2021 (13) | 8.30 | % | 11,166 | 10,955 | 11,145 | ||||||||||||
Delayed Draw Term Loan, LIBOR+7% (1% floor) cash due 12/30/2021 (13) | 8.30 | % | 513 | 443 | 506 | ||||||||||||
11,398 | 11,651 | ||||||||||||||||
DFT Intermediate LLC | Specialized finance | ||||||||||||||||
First Lien Term Revolver, LIBOR+5.5% (1% floor) cash due 3/1/2022 (13) | 6.74 | % | 3,300 | 3,224 | 3,278 | ||||||||||||
3,224 | 3,278 | ||||||||||||||||
Systems, Inc. | Industrial machinery | ||||||||||||||||
First Lien Term Loan, LIBOR+5.25% (1% floor) cash due 3/3/2022 (13) | 6.57 | % | 8,668 | 8,553 | 8,625 | ||||||||||||
First Lien Revolver, LIBOR+5.25% (1% floor) cash due 3/3/2022 (10)(13) | 6.57 | % | (40 | ) | (40 | ) | |||||||||||
8,513 | 8,585 | ||||||||||||||||
TerSera Therapeutics, LLC | Pharmaceuticals | ||||||||||||||||
Second Lien Term Loan, LIBOR+9.25% (1% floor) cash due 3/30/2024 (13) | 10.58 | % | 15,000 | 14,586 | 14,629 | ||||||||||||
668,879 Common Units of TerSera Holdings LLC | 1,500 | 1,816 | |||||||||||||||
16,086 | 16,445 | ||||||||||||||||
Cablevision Systems Corp. | Integrated telecommunication services | ||||||||||||||||
Fixed Rate Bond 10.875% cash due 10/15/2025 (22) | 5,897 | 7,077 | 7,298 | ||||||||||||||
7,077 | 7,298 | ||||||||||||||||
See notes to Consolidated Financial Statements. |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Total Portfolio Investments (172.0% of net assets) | $ | 1,669,170 | $ | 1,573,851 | |||||||||||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||||||||||||||
JP Morgan Prime Money Market Fund, Institutional Shares | $ | 35,248 | $ | 35,248 | |||||||||||||||||||||||||
Other cash accounts | 3,848 | 3,848 | |||||||||||||||||||||||||||
Total Cash and Cash Equivalents (4.3% of net assets) | $ | 39,096 | $ | 39,096 | |||||||||||||||||||||||||
Total Portfolio Investments and Cash and Cash Equivalents (176.3% of net assets) | $ | 1,708,266 | $ | 1,612,947 |
Derivative Instrument | Notional Amount to be Purchased | Notional Amount to be Sold | Maturity Date | Counterparty | Cumulative Unrealized Appreciation /(Depreciation) | |||||||||||||||||||||||||||
Foreign currency forward contract | $ | 35,577 | £ | 27,494 | 11/12/2020 | JPMorgan Chase Bank, N.A. | $ | 25 | ||||||||||||||||||||||||
Foreign currency forward contract | $ | 30,260 | € | 25,614 | 11/12/2020 | JPMorgan Chase Bank, N.A. | 198 | |||||||||||||||||||||||||
$ | 223 |
Portfolio Company/Type of Investment (1)(2)(5)(9)(14) | Cash Interest Rate (13) | Industry | Principal (8) | Cost | Fair Value | ||||||||||||
Terraform Power Operating | Multi-utilities | ||||||||||||||||
Fixed Rate Bond 6.375% cash due 2/1/2023 (11)(22) | $ | 6,000 | $ | 6,201 | $ | 6,255 | |||||||||||
6,201 | 6,255 | ||||||||||||||||
HC2 Holdings Inc. | Multi-sector holdings | ||||||||||||||||
Fixed Rate Bond 11% cash due 12/1/2019 (11)(22) | 10,500 | 10,666 | 10,631 | ||||||||||||||
10,666 | 10,631 | ||||||||||||||||
Natural Resource Partners LP | Precious metals & minerals | ||||||||||||||||
Fixed Rate Bond 10.5% cash due 3/15/2022 (11)(22) | 7,000 | 7,459 | 7,464 | ||||||||||||||
7,459 | 7,464 | ||||||||||||||||
Virgin Media | Integrated telecommunication services | ||||||||||||||||
Fixed Rate Bond 5.5% cash due 8/15/2026 (11)(22) | 2,000 | 2,038 | 2,108 | ||||||||||||||
Fixed Rate Bond 5.25% cash due 1/15/2026 (11)(22) | 3,000 | 3,009 | 3,161 | ||||||||||||||
5,047 | 5,269 | ||||||||||||||||
Scientific Games International, Inc. | Casinos & gaming | ||||||||||||||||
First Lien Term Loan B4, LIBOR+3.25% cash due 8/14/2024 (13)(22) | 4.58 | % | 11,368 | 11,313 | 11,402 | ||||||||||||
11,313 | 11,402 | ||||||||||||||||
ASHCO, LLC | Specialty stores | ||||||||||||||||
First Lien Term Loan, LIBOR+5% (1% floor) cash due 12/15/2023 (13) | 6.24 | % | 12,000 | 11,762 | 11,335 | ||||||||||||
11,762 | 11,335 | ||||||||||||||||
Salient CRGT Inc. | IT consulting & other services | ||||||||||||||||
First Lien Term Loan, LIBOR+5.75% (1% floor) cash due 2/28/2022 (13) | 6.99 | % | 3,440 | 3,377 | 3,416 | ||||||||||||
3,377 | 3,416 | ||||||||||||||||
BJ's Wholesale Club, Inc. | Hypermarkets & super centers | ||||||||||||||||
First Lien Term Loan, LIBOR+3.75% (1% floor) cash due 1/26/2024 (13)(22) | 4.99 | % | 11,970 | 11,979 | 11,504 | ||||||||||||
11,979 | 11,504 | ||||||||||||||||
Everi Payments Inc. | Casinos & gaming | ||||||||||||||||
First Lien Term Loan, LIBOR+4.5% (1% floor) cash due 5/9/2024 (13)(22) | 5.74 | % | 11,970 | 11,996 | 12,093 | ||||||||||||
11,996 | 12,093 | ||||||||||||||||
LSF9 Atlantis Holdings, LLC | Computer & electronics retail | ||||||||||||||||
First Lien Term Loan, LIBOR+6% (1% floor) cash due 5/1/2023 (13) | 7.24 | % | 6,459 | 6,399 | 6,498 | ||||||||||||
6,399 | 6,498 | ||||||||||||||||
Allied Universal Holdco LLC | Security & alarm services | ||||||||||||||||
First Lien Term Loan, LIBOR+3.75% (1% floor) cash due 7/28/2022 (13)(22) | 5.08 | % | 11,970 | 12,043 | 11,958 | ||||||||||||
Second Lien Term Loan, LIBOR+8.5% (1% floor) cash due 7/27/2023 (13)(22) | 9.81 | % | 1,149 | 1,171 | 1,145 | ||||||||||||
13,214 | 13,103 | ||||||||||||||||
Truck Hero, Inc. | Auto parts & equipment | ||||||||||||||||
Second Lien Term Loan, LIBOR+8.25% (1% floor) cash due 4/21/2025 (13) | 9.58 | % | 21,500 | 21,191 | 21,715 | ||||||||||||
21,191 | 21,715 | ||||||||||||||||
BMC Software Finance, Inc. | Internet software & services | ||||||||||||||||
First Lien Term Loan, LIBOR+4% (1% floor) cash due 9/10/2022 (13)(22) | 5.24 | % | 16,881 | 16,999 | 16,993 | ||||||||||||
16,999 | 16,993 | ||||||||||||||||
See notes to Consolidated Financial Statements. |
Portfolio Company/Type of Investment (1)(2)(5)(9)(14) | Cash Interest Rate (13) | Industry | Principal (8) | Cost | Fair Value | ||||||||||||
Internet Pipeline, Inc. | Internet software & services | ||||||||||||||||
Incremental First Lien Term Loan, LIBOR+6.25% (1% floor) cash due 8/1/2022 (13) | 7.48 | % | $ | 5,565 | $ | 5,513 | $ | 5,677 | |||||||||
5,513 | 5,677 | ||||||||||||||||
CCC Information Services Inc. | Internet software & services | ||||||||||||||||
Second Lien Term Loan, LIBOR+6.75% (1% floor) cash due 3/13/2025 (13) | 7.99 | % | 2,500 | 2,559 | 2,581 | ||||||||||||
2,559 | 2,581 | ||||||||||||||||
Hyland Software Inc. | Internet software & services | ||||||||||||||||
Second Lien Term Loan, LIBOR+7% (1% floor) cash due 7/7/2025 (13) | 8.24 | % | 2,000 | 1,991 | 1,980 | ||||||||||||
1,991 | 1,980 | ||||||||||||||||
Idera, Inc. | Internet software & services | ||||||||||||||||
First Lien Term Loan B, LIBOR+5% (1% floor) cash due 6/27/2024 (13) | 6.24 | % | 6,926 | 6,910 | 6,978 | ||||||||||||
6,910 | 6,978 | ||||||||||||||||
MHE Intermediate Holdings, LLC | Diversified support services | ||||||||||||||||
First Lien Term Loan, LIBOR+5% (1% floor) cash due 3/11/2024 (13) | 6.33 | % | 2,993 | 2,964 | 2,993 | ||||||||||||
2,964 | 2,993 | ||||||||||||||||
PowerPlan Holdings, LLC | Internet software & services | ||||||||||||||||
First Lien Term Loan, LIBOR+5.25% (1% floor) cash due 2/23/2022 (13) | 6.49 | % | 4,988 | 4,941 | 4,987 | ||||||||||||
4,941 | 4,987 | ||||||||||||||||
UOS, LLC | Trucking | ||||||||||||||||
First Lien Term Loan, LIBOR+5.5% (1% floor) cash due 4/18/2023 (13) | 6.74 | % | 6,916 | 7,081 | 7,106 | ||||||||||||
7,081 | 7,106 | ||||||||||||||||
Veritas US Inc. | Internet software & services | ||||||||||||||||
First Lien Term Loan, LIBOR+4.5% (1% floor) cash due 1/27/2023 (13)(22) | 5.83 | % | 34,947 | 35,379 | 35,336 | ||||||||||||
35,379 | 35,336 | ||||||||||||||||
Staples, Inc. | Distributors | ||||||||||||||||
First Lien Term Loan, LIBOR+4% (1% floor) cash due 8/12/2024 (13)(22) | 5.31 | % | 10,000 | 9,976 | 9,967 | ||||||||||||
Fixed Rate Bond 8.5% cash due 9/15/2025 (22) | 5,000 | 4,988 | 4,863 | ||||||||||||||
14,964 | 14,830 | ||||||||||||||||
Zep Inc. | Housewares & Specialties | ||||||||||||||||
Second Lien Term Loan, LIBOR+8.25% (1% floor) cash due 8/11/2025 (13) | 9.48 | % | 30,000 | 29,852 | 29,775 | ||||||||||||
29,852 | 29,775 | ||||||||||||||||
DTZ U.S. Borrower, LLC | Real estate services | ||||||||||||||||
First Lien Term Loan, LIBOR+3.25% (1% floor) cash due 11/4/2021 (13)(22) | 4.57 | % | 12,967 | 13,011 | 13,014 | ||||||||||||
13,011 | 13,014 | ||||||||||||||||
Micro Holding Corp. | Internet software & services | ||||||||||||||||
First Lien Term Loan, LIBOR+3.5% (1% floor) cash due 9/15/2024 (13) | 4.82 | % | 6,000 | 5,970 | 5,978 | ||||||||||||
5,970 | 5,978 | ||||||||||||||||
Accudyne Industries, LLC | Oil & gas equipment services | ||||||||||||||||
First Lien Term Loan, LIBOR+3.75% (1% floor) cash due 8/18/2024 (13)(22) | 5.01 | % | 19,915 | 19,977 | 19,990 | ||||||||||||
19,977 | 19,990 | ||||||||||||||||
See notes to Consolidated Financial Statements. |
Portfolio Company/Type of Investment (1)(2)(5)(9)(14) | Cash Interest Rate (13) | Industry | Principal (8) | Cost | Fair Value | ||||||||||||
McAfee, LLC | Internet software & services | ||||||||||||||||
First Lien Term Loan, LIBOR+4.5% (1% floor) cash due 9/30/2024 (13) | 5.83 | % | $ | 8,000 | $ | 7,921 | $ | 8,083 | |||||||||
7,921 | 8,083 | ||||||||||||||||
Total Non-Control/Non-Affiliate Investments (138.2% of net assets) | $ | 1,279,096 | $ | 1,199,501 | |||||||||||||
Total Portfolio Investments (177.7% of net assets) | $ | 1,757,665 | $ | 1,541,755 | |||||||||||||
Cash and Cash Equivalents | |||||||||||||||||
JP Morgan Prime Money Market Fund | $ | 48,808 | $ | 48,808 | |||||||||||||
Other cash accounts | 4,210 | 4,210 | |||||||||||||||
Total Cash and Cash Equivalents (6.1% of net assets) | $ | 53,018 | $ | 53,018 | |||||||||||||
Total Portfolio Investments, Cash and Cash Equivalents (183.8% of net assets) | $ | 1,810,683 | $ | 1,594,773 |
December 31, 2020 | September 30, 2020 | |||||||||||||||||||||||||
Cost | Fair Value | Cost | Fair Value | |||||||||||||||||||||||
Investments in debt securities | $ | 1,514,258 | $ | 1,520,243 | $ | 1,422,487 | $ | 1,388,605 | ||||||||||||||||||
Investments in equity securities | 97,831 | 66,567 | 101,111 | 67,806 | ||||||||||||||||||||||
Debt investment in SLF JV I | 96,250 | 96,250 | 96,250 | 96,250 | ||||||||||||||||||||||
Equity investment in SLF JV I | 49,322 | 29,264 | 49,322 | 21,190 | ||||||||||||||||||||||
Total | $ | 1,757,661 | $ | 1,712,324 | $ | 1,669,170 | $ | 1,573,851 |
December 31, 2017 | September 30, 2017 | |||||||||||||||
Cost | Fair Value | Cost | Fair Value | |||||||||||||
Investments in debt securities | $ | 1,343,309 | $ | 1,171,848 | $ | 1,426,301 | $ | 1,296,138 | ||||||||
Investments in equity securities | 188,693 | 110,409 | 186,521 | 111,421 | ||||||||||||
Debt investments in SLF JV I | 128,267 | 128,267 | 128,671 | 128,671 | ||||||||||||
Equity investment in SLF JV I | 16,172 | 4,880 | 16,172 | 5,525 | ||||||||||||
Total | $ | 1,676,441 | $ | 1,415,404 | $ | 1,757,665 | $ | 1,541,755 |
December 31, 2017 | September 30, 2017 | |||||||||||||
Fair Value | % of Debt Portfolio | Fair Value | % of Debt Portfolio | |||||||||||
Fixed rate debt securities, including debt investments in SLF JV I | $ | 229,274 | 17.63 | % | $ | 233,869 | 16.41 | % | ||||||
Floating rate debt securities, including debt investments in SLF JV I | 1,070,841 | 82.37 | 1,190,940 | 83.59 | ||||||||||
Total | $ | 1,300,115 | 100.00 | % | $ | 1,424,809 | 100.00 | % |
December 31, 2020 | September 30, 2020 | |||||||||||||||||||||||||
Fair Value | % of Debt Portfolio | Fair Value | % of Debt Portfolio | |||||||||||||||||||||||
Floating rate debt securities, including the debt investment in SLF JV I | $ | 1,436,071 | 88.84 | % | $ | 1,311,509 | 88.33 | % | ||||||||||||||||||
Fixed rate debt securities | 180,422 | 11.16 | 173,346 | 11.67 | ||||||||||||||||||||||
Total | $ | 1,616,493 | 100.00 | % | $ | 1,484,855 | 100.00 | % |
Level 1 | Level 2 | Level 3 | Measured at Net Asset Value (a) | Total | ||||||||||||||||
Investments in debt securities (senior secured) | $ | — | $ | 258,128 | $ | 815,352 | $ | — | $ | 1,073,480 | ||||||||||
Investments in debt securities (subordinated, including debt investments in SLF JV I) | — | 56,684 | 169,951 | — | 226,635 | |||||||||||||||
Investments in equity securities (preferred) | — | — | 16,350 | — | 16,350 | |||||||||||||||
Investments in equity securities (common, including LLC equity interests of SLF JV I) | — | — | 68,434 | 30,505 | 98,939 | |||||||||||||||
Total investments at fair value | — | 314,812 | 1,070,087 | 30,505 | 1,415,404 | |||||||||||||||
Cash and cash equivalents | 45,435 | — | — | — | 45,435 | |||||||||||||||
Total assets at fair value | $ | 45,435 | $ | 314,812 | $ | 1,070,087 | $ | 30,505 | $ | 1,460,839 | ||||||||||
Secured borrowings relating to senior secured debt investments | — | — | 11,601 | — | 11,601 | |||||||||||||||
Total liabilities at fair value | $ | — | $ | — | $ | 11,601 | $ | — | $ | 11,601 |
Level 1 | Level 2 | Level 3 | Measured at Net Asset Value (a) | Total | Level 1 | Level 2 | Level 3 | Measured at Net Asset Value (a) | Total | |||||||||||||||||||||||||||||||||||||||||||
Investments in debt securities (senior secured) | $ | — | $ | 142,257 | $ | 1,060,442 | $ | — | $ | 1,202,699 | Investments in debt securities (senior secured) | $ | — | $ | 389,161 | $ | 1,078,416 | $ | — | $ | 1,467,577 | |||||||||||||||||||||||||||||||
Investments in debt securities (subordinated, including debt investments in SLF JV I) | — | 41,778 | 180,331 | — | 222,109 | |||||||||||||||||||||||||||||||||||||||||||||||
Investments in debt securities (subordinated, including the debt investment in SLF JV I) | Investments in debt securities (subordinated, including the debt investment in SLF JV I) | — | 34,744 | 114,172 | — | 148,916 | ||||||||||||||||||||||||||||||||||||||||||||||
Investments in equity securities (preferred) | — | — | 16,445 | — | 16,445 | Investments in equity securities (preferred) | — | — | 29,731 | — | 29,731 | |||||||||||||||||||||||||||||||||||||||||
Investments in equity securities (common, including LLC equity interests of SLF JV I) | — | — | 69,164 | 31,338 | 100,502 | |||||||||||||||||||||||||||||||||||||||||||||||
Investments in equity securities (common and warrants, including LLC equity interests of SLF JV I) | Investments in equity securities (common and warrants, including LLC equity interests of SLF JV I) | — | — | 35,472 | 30,628 | 66,100 | ||||||||||||||||||||||||||||||||||||||||||||||
Total investments at fair value | — | 184,035 | 1,326,382 | 31,338 | 1,541,755 | Total investments at fair value | — | 423,905 | 1,257,791 | 30,628 | 1,712,324 | |||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | 53,018 | — | — | — | 53,018 | |||||||||||||||||||||||||||||||||||||||||||||||
Cash equivalents | Cash equivalents | 20,966 | — | — | — | 20,966 | ||||||||||||||||||||||||||||||||||||||||||||||
Total assets at fair value | $ | 53,018 | $ | 184,035 | $ | 1,326,382 | $ | 31,338 | $ | 1,594,773 | Total assets at fair value | $ | 20,966 | $ | 423,905 | $ | 1,257,791 | $ | 30,628 | $ | 1,733,290 | |||||||||||||||||||||||||||||||
Secured borrowings relating to senior secured debt investments | — | — | 13,256 | — | 13,256 | |||||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | Derivative liabilities | $ | — | $ | 2,203 | $ | — | $ | — | $ | 2,203 | |||||||||||||||||||||||||||||||||||||||||
Total liabilities at fair value | $ | — | $ | — | $ | 13,256 | $ | — | $ | 13,256 | Total liabilities at fair value | $ | — | $ | 2,203 | $ | — | $ | — | $ | 2,203 |
Level 1 | Level 2 | Level 3 | Measured at Net Asset Value (a) | Total | ||||||||||||||||||||||||||||
Investments in debt securities (senior secured) | $ | — | $ | 418,806 | $ | 904,237 | $ | — | $ | 1,323,043 | ||||||||||||||||||||||
Investments in debt securities (subordinated, including the debt investment in SLF JV I) | — | 35,660 | 126,152 | — | 161,812 | |||||||||||||||||||||||||||
Investments in equity securities (preferred) | — | — | 29,959 | — | 29,959 | |||||||||||||||||||||||||||
Investments in equity securities (common and warrants, including LLC equity interests of SLF JV I) | 222 | — | 35,080 | 23,735 | 59,037 | |||||||||||||||||||||||||||
Total investments at fair value | 222 | 454,466 | 1,095,428 | 23,735 | 1,573,851 | |||||||||||||||||||||||||||
Cash equivalents | 35,248 | — | — | — | 35,248 | |||||||||||||||||||||||||||
Derivative assets | — | 223 | — | — | 223 | |||||||||||||||||||||||||||
Total assets at fair value | $ | 35,470 | $ | 454,689 | $ | 1,095,428 | $ | 23,735 | $ | 1,609,322 |
Investments | Liabilities | |||||||||||||||||||||||
Senior Secured Debt | Subordinated Debt (including debt investments in SLF JV I) | Preferred Equity | Common Equity | Total | Secured Borrowings | |||||||||||||||||||
Fair value as of September 30, 2017 | $ | 1,060,442 | $ | 180,331 | $ | 16,445 | $ | 69,164 | $ | 1,326,382 | $ | 13,256 | ||||||||||||
New investments & net revolver activity | 58,869 | 1,730 | — | 2,500 | 63,099 | — | ||||||||||||||||||
Redemptions/repayments/sales | (239,894 | ) | (812 | ) | — | 9 | (240,697 | ) | — | |||||||||||||||
Transfers out (a) | (37,368 | ) | — | — | — | (37,368 | ) | — | ||||||||||||||||
Net accrual of PIK interest income | 683 | 75 | — | — | 758 | — | ||||||||||||||||||
Accretion of OID | 186 | — | — | — | 186 | — | ||||||||||||||||||
Net unrealized depreciation on investments | (27,566 | ) | (11,372 | ) | (95 | ) | (3,230 | ) | (42,263 | ) | — | |||||||||||||
Net unrealized depreciation on secured borrowings | — | — | — | — | — | (1,655 | ) | |||||||||||||||||
Realized loss on investments | — | (1 | ) | — | (9 | ) | (10 | ) | — | |||||||||||||||
Fair value as of December 31, 2017 | $ | 815,352 | $ | 169,951 | $ | 16,350 | $ | 68,434 | $ | 1,070,087 | $ | 11,601 | ||||||||||||
Net unrealized appreciation (depreciation) relating to Level 3 assets & liabilities still held as of December 31, 2017 and reported within net unrealized depreciation on investments and net unrealized (appreciation) depreciation on secured borrowings in the Consolidated Statement of Operations for the three months ended December 31, 2017 | $ | (27,539 | ) | $ | (11,441 | ) | $ | (94 | ) | $ | (4,243 | ) | $ | (43,317 | ) | $ | (1,655 | ) |
Investments | ||||||||||||||||||||||||||||||||
Senior Secured Debt | Subordinated Debt (including debt investment in SLF JV I) | Preferred Equity | Common Equity and Warrants | Total | ||||||||||||||||||||||||||||
Fair value as of September 30, 2020 | $ | 904,237 | $ | 126,152 | $ | 29,959 | $ | 35,080 | $ | 1,095,428 | ||||||||||||||||||||||
Purchases | 209,177 | — | — | — | 209,177 | |||||||||||||||||||||||||||
Sales and repayments | (68,895) | (34,905) | (31) | (5,147) | (108,978) | |||||||||||||||||||||||||||
Transfers in (a)(b) | 18,458 | — | — | 437 | 18,895 | |||||||||||||||||||||||||||
PIK interest income | 2,873 | — | — | — | 2,873 | |||||||||||||||||||||||||||
Accretion of OID | 1,379 | 992 | — | — | 2,371 | |||||||||||||||||||||||||||
Net unrealized appreciation (depreciation) | 12,751 | 14,648 | (228) | 2,467 | 29,638 | |||||||||||||||||||||||||||
Net realized gains (losses) | (1,564) | 7,285 | 31 | 2,635 | 8,387 | |||||||||||||||||||||||||||
Fair value as of December 31, 2020 | $ | 1,078,416 | $ | 114,172 | $ | 29,731 | $ | 35,472 | $ | 1,257,791 | ||||||||||||||||||||||
Net unrealized appreciation (depreciation) relating to Level 3 investments still held as of December 31, 2020 and reported within net unrealized appreciation (depreciation) in the Consolidated Statement of Operations for the three months ended December 31, 2020 | $ | 15,672 | $ | (56) | $ | (228) | $ | 2,209 | $ | 17,597 |
Investments | ||||||||||||||||||||||||||||||||
Senior Secured Debt | Subordinated Debt (including debt investment in SLF JV I) | Preferred Equity | Common Equity and Warrants | Total | ||||||||||||||||||||||||||||
Fair value as of September 30, 2019 | $ | 653,334 | $ | 110,309 | $ | 40,578 | $ | 41,006 | $ | 845,227 | ||||||||||||||||||||||
New investments | 96,395 | 959 | — | 1,328 | 98,682 | |||||||||||||||||||||||||||
Sales and repayments | (73,292) | (365) | (1,388) | (39) | (75,084) | |||||||||||||||||||||||||||
Transfers in (a) | 33,252 | — | — | — | 33,252 | |||||||||||||||||||||||||||
Transfers out (a) | (15,000) | — | — | — | (15,000) | |||||||||||||||||||||||||||
PIK interest income | 1,119 | — | — | — | 1,119 | |||||||||||||||||||||||||||
Accretion of OID | 1,421 | 305 | — | — | 1,726 | |||||||||||||||||||||||||||
Net unrealized appreciation (depreciation) | 469 | (2,860) | (1,076) | 2,311 | (1,156) | |||||||||||||||||||||||||||
Net realized gains (losses) | (66) | — | 795 | 39 | 768 | |||||||||||||||||||||||||||
Fair value as of December 31, 2019 | $ | 697,632 | $ | 108,348 | $ | 38,909 | $ | 44,645 | $ | 889,534 | ||||||||||||||||||||||
Net unrealized appreciation (depreciation) relating to Level 3 assets & liabilities still held as of December 31, 2019 and reported within net unrealized appreciation (depreciation) in the Consolidated Statement of Operations for the three months ended December 31, 2019 | $ | 1,313 | $ | (2,860) | $ | (174) | $ | 2,311 | $ | 590 |
Investments | Liabilities | |||||||||||||||||||||||
Senior Secured Debt | Subordinated Debt (including debt investments in SLF JV I) | Preferred Equity | Common Equity | Total | Secured Borrowings | |||||||||||||||||||
Fair value as of September 30, 2016 | $ | 1,689,535 | $ | 285,277 | $ | 47,749 | $ | 106,540 | $ | 2,129,101 | $ | 18,400 | ||||||||||||
New investments & net revolver activity | 99,858 | 126,402 | — | 1,586 | 227,846 | — | ||||||||||||||||||
Redemptions/repayments | (194,616 | ) | (150,043 | ) | (652 | ) | (1,786 | ) | (347,097 | ) | (4,503 | ) | ||||||||||||
Net accrual (receipt) of PIK interest income | (1,026 | ) | (247 | ) | 676 | — | (597 | ) | — | |||||||||||||||
Accretion of OID | 2,201 | — | — | — | 2,201 | — | ||||||||||||||||||
Net change in unearned income | (26 | ) | 11 | — | — | (15 | ) | — | ||||||||||||||||
Net unrealized appreciation (depreciation) on investments | (81,425 | ) | 14,877 | 1,372 | (9,720 | ) | (74,896 | ) | — | |||||||||||||||
Net unrealized appreciation on secured borrowings | — | — | — | — | — | 84 | ||||||||||||||||||
Realized gain (loss) on investments | (140 | ) | (19,857 | ) | 443 | (3,600 | ) | (23,154 | ) | — | ||||||||||||||
Fair value as of December 31, 2016 | $ | 1,514,361 | $ | 256,420 | $ | 49,588 | $ | 93,020 | $ | 1,913,389 | $ | 13,981 | ||||||||||||
Net unrealized appreciation (depreciation) relating to Level 3 assets & liabilities still held as of December 31, 2016 and reported within net unrealized depreciation on investments and net unrealized (appreciation) depreciation on secured borrowings in the Consolidated Statement of Operations for the three months ended December 31, 2016 | $ | (80,481 | ) | $ | (793 | ) | $ | 1,697 | $ | (11,786 | ) | $ | (91,363 | ) | $ | 84 |
Asset | Fair Value | Valuation Technique | Unobservable Input | Range | Weighted Average (a) | ||||||||||||||||||||||||||||||||||||
Senior Secured Debt | $ | 563,045 | Market Yield | Market Yield | (b) | 6.9% | - | 20.0% | 11.2% | ||||||||||||||||||||||||||||||||
35,289 | Enterprise Value | EBITDA Multiple | (c) | 5.8x | - | 6.8x | 6.3x | ||||||||||||||||||||||||||||||||||
9,971 | Enterprise Value | Asset Multiple | (c) | 0.9x | - | 1.1x | 1.0x | ||||||||||||||||||||||||||||||||||
79,113 | Transactions Precedent | Transaction Price | (d) | N/A | - | N/A | N/A | ||||||||||||||||||||||||||||||||||
390,998 | Broker Quotations | Broker Quoted Price | (e) | N/A | - | N/A | N/A | ||||||||||||||||||||||||||||||||||
Subordinated Debt | 17,922 | Market Yield | Market Yield | (b) | 3.6% | - | 28.0% | 17.8% | |||||||||||||||||||||||||||||||||
SLF JV I Debt Investment | 96,250 | Enterprise Value | N/A | (f) | N/A | - | N/A | N/A | |||||||||||||||||||||||||||||||||
Preferred & Common Equity | 19,389 | Enterprise Value | Revenue Multiple | (c) | 0.9x | - | 6.4x | 3.0x | |||||||||||||||||||||||||||||||||
43,735 | Enterprise Value | EBITDA Multiple | (c) | 3.0x | - | 15.0x | 7.7x | ||||||||||||||||||||||||||||||||||
1,681 | Enterprise Value | Asset Multiple | (c) | 0.9x | - | 1.1x | 1.0x | ||||||||||||||||||||||||||||||||||
398 | Broker Quotations | Broker Quoted Price | (e) | N/A | - | N/A | N/A | ||||||||||||||||||||||||||||||||||
Total | $ | 1,257,791 |
Asset | Fair Value | Valuation Technique | Unobservable Input | Range | Weighted Average (c) | ||||||||||
Senior secured debt | $ | 579,327 | Market yield technique | Market yield | (a) | 6.4% | - | 20.2% | 12.2% | ||||||
10,340 | Enterprise value technique | Revenue multiple | (b) | 0.1x | - | 0.6x | 0.3x | ||||||||
103,793 | Enterprise value technique | EBITDA multiple | (b) | 3.2x | - | 7.6x | 4.7x | ||||||||
44,378 | Enterprise value technique | Asset multiple | (b) | 0.9x | - | 1.1x | 1.0x | ||||||||
14,657 | Transactions precedent technique | Transaction price | (d) | N/A | - | N/A | N/A | ||||||||
62,857 | Market quotations | Broker quoted price | (e) | N/A | - | N/A | N/A | ||||||||
Subordinated debt | 42,084 | Market yield technique | Market yield | (a) | 12.9% | - | 25.0% | 14.0% | |||||||
(400 | ) | Enterprise value technique | EBITDA multiple | (a) | 6.8x | - | 7.8x | 7.3x | |||||||
SLF JV I debt investments | 128,267 | Enterprise value technique | N/A | (f) | N/A | - | N/A | N/A | |||||||
Preferred & common equity | 15,651 | Enterprise value technique | Revenue multiple | (b) | 0.1x | - | 10.9x | 2.4x | |||||||
49,797 | Enterprise value technique | EBITDA multiple | (b) | 3.2x | - | 15.5x | 7.7x | ||||||||
19,336 | Enterprise value technique | Asset multiple | (b) | 0.9x | - | 1.1x | 1.0x | ||||||||
Total | $ | 1,070,087 | |||||||||||||
Secured borrowings | 11,601 | Market yield technique | Market yield | (a) | 16.5% | - | 18.5% | 17.5% | |||||||
Total | $ | 11,601 |
(a)Weighted averages are calculated based on fair value of investments. (b)Used when market participants would take into account |
Asset | Fair Value | Valuation Technique | Unobservable Input | Range | Weighted Average (a) | ||||||||||||||||||||||||||||||||||||
Senior Secured Debt | $ | 542,354 | Market Yield | Market Yield | (b) | 6.6% | - | 30.0% | 12.5% | ||||||||||||||||||||||||||||||||
35,508 | Enterprise Value | EBITDA Multiple | (c) | 0.6x | - | 6.3x | 5.9x | ||||||||||||||||||||||||||||||||||
11,510 | Enterprise Value | Asset Multiple | (c) | 0.9x | - | 1.1x | 1.0x | ||||||||||||||||||||||||||||||||||
314,865 | Broker Quotations | Broker Quoted Price | (e) | N/A | - | N/A | N/A | ||||||||||||||||||||||||||||||||||
Subordinated Debt | 29,314 | Market Yield | Market Yield | (b) | 4.8% | - | 15.0% | 9.3% | |||||||||||||||||||||||||||||||||
588 | Enterprise Value | EBITDA Multiple | (c) | 7.6x | - | 8.6x | 8.1x | ||||||||||||||||||||||||||||||||||
SLF JV I Debt Investment | 96,250 | Enterprise Value | N/A | (f) | N/A | - | N/A | N/A | |||||||||||||||||||||||||||||||||
Preferred & Common Equity | 16,470 | Enterprise Value | Revenue Multiple | (c) | 0.9x | - | 7.0x | 3.1x | |||||||||||||||||||||||||||||||||
45,934 | Enterprise Value | EBITDA Multiple | (c) | 0.6x | - | 15.0x | 7.6x | ||||||||||||||||||||||||||||||||||
1,622 | Enterprise Value | Asset Multiple | (c) | 0.9x | - | 1.1x | 1.0x | ||||||||||||||||||||||||||||||||||
1,013 | Transactions Precedent | Transaction Price | (d) | N/A | - | N/A | N/A | ||||||||||||||||||||||||||||||||||
Total | $ | 1,095,428 |
Asset | Fair Value | Valuation Technique | Unobservable Input | Range | Weighted Average (c) | ||||||||||
Senior secured debt | $ | 632,835 | Market yield technique | Capital structure premium | (a) | 0.0% | - | 2.0% | 0.7% | ||||||
Tranche specific risk premium/(discount) | (a) | (2.5)% | - | 10.5% | 2.9% | ||||||||||
Size premium | (a) | 0.5% | - | 2.0% | 1.0% | ||||||||||
Industry premium/(discount) | (a) | (1.2)% | - | 2.6% | 0.4% | ||||||||||
58,815 | Enterprise value technique | Revenue multiple | (b) | 0.2x | - | 0.6x | 0.5x | ||||||||
107,313 | Enterprise value technique | EBITDA multiple | (b) | 0.1x | - | 7.2x | 4.6x | ||||||||
98,800 | Transactions precedent technique | Transaction price | (d) | N/A | - | N/A | N/A | ||||||||
162,679 | Market quotations | Broker quoted price | (e) | N/A | - | N/A | N/A | ||||||||
Subordinated debt | 40,825 | Market yield technique | Capital structure premium | (a) | 2.0% | - | 2.0% | 2.0% | |||||||
Tranche specific risk premium | (a) | 1.8% | - | 5.9% | 3.4% | ||||||||||
Size premium | (a) | 2.0% | - | 2.0% | 2.0% | ||||||||||
Industry premium/(discount) | (a) | (0.5)% | - | 2.6% | 0.6% | ||||||||||
10,835 | Enterprise value technique | EBITDA multiple | (b) | 6.3x | - | 7.0x | 6.4x | ||||||||
SLF JV I debt investments | 128,671 | Enterprise value technique | N/A | (f) | N/A | - | N/A | N/A | |||||||
Preferred & common equity | 85,609 | Enterprise value technique | EBITDA multiple | (b) | 0.1x | - | 15.6x | 6.8x | |||||||
Revenue multiple | (b) | 0.9x | 10.9x | 2.7x | |||||||||||
Total | $ | 1,326,382 | |||||||||||||
Secured borrowings | 13,256 | Market yield technique | Tranche specific risk premium (discount) | (a) | (2.0)% | - | 6.5% | 5.7% | |||||||
Size premium | (a) | 2.0% | - | 2.0% | 2.0% | ||||||||||
Industry premium | (a) | 0.2% | - | 0.2% | 0.2% | ||||||||||
Total | $ | 13,256 |
Carrying Value | Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||
Credit facility payable | $ | 400,025 | $ | 400,025 | $ | — | $ | — | $ | 400,025 | ||||||||||||||||||||||
Unsecured notes payable (net of unamortized financing costs and unaccreted discount) | 294,802 | 311,346 | — | 311,346 | — | |||||||||||||||||||||||||||
Total | $ | 694,827 | $ | 711,371 | $ | — | $ | 311,346 | $ | 400,025 |
Carrying Value | Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Credit facility payable | $ | 205,000 | $ | 205,000 | $ | — | $ | — | $ | 205,000 | ||||||||||
Unsecured notes payable (net of unamortized financing costs) | 406,486 | 413,245 | — | 162,570 | 250,675 | |||||||||||||||
Total | $ | 611,486 | $ | 618,245 | $ | — | $ | 162,570 | $ | 455,675 |
Carrying Value | Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Credit facilities payable | $ | 255,995 | $ | 255,995 | $ | — | $ | — | $ | 255,995 | ||||||||||
Unsecured notes payable (net of unamortized financing costs) | 406,115 | 414,067 | — | 163,517 | 250,550 | |||||||||||||||
Total | $ | 662,110 | $ | 670,062 | $ | — | $ | 163,517 | $ | 506,545 |
Carrying Value | Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||
Credit facility payable | $ | 414,825 | $ | 414,825 | $ | — | $ | — | $ | 414,825 | ||||||||||||||||||||||
Unsecured notes payable (net of unamortized financing costs and unaccreted discount) | 294,490 | 301,431 | — | 301,431 | — | |||||||||||||||||||||||||||
Total | $ | 709,315 | $ | 716,256 | $ | — | $ | 301,431 | $ | 414,825 |
December 31, 2020 | September 30, 2020 | |||||||||||||||||||||||||
Cost: | % of Total Investments | % of Total Investments | ||||||||||||||||||||||||
Senior secured debt | $ | 1,464,479 | 83.31 | % | $ | 1,345,012 | 80.58 | % | ||||||||||||||||||
Debt investment in SLF JV I | 96,250 | 5.48 | % | 96,250 | 5.77 | % | ||||||||||||||||||||
Common equity and warrants | 58,281 | 3.32 | % | 61,561 | 3.69 | % | ||||||||||||||||||||
Subordinated debt | 49,779 | 2.83 | % | 77,475 | 4.64 | % | ||||||||||||||||||||
LLC equity interests of SLF JV I | 49,322 | 2.81 | % | 49,322 | 2.95 | % | ||||||||||||||||||||
Preferred equity | 39,550 | 2.25 | % | 39,550 | 2.37 | % | ||||||||||||||||||||
Total | $ | 1,757,661 | 100.00 | % | $ | 1,669,170 | 100.00 | % |
December 31, 2017 | September 30, 2017 | |||||||||||||
Cost: | % of Total Investments | % of Total Investments | ||||||||||||
Senior secured debt | $ | 1,214,175 | 72.44 | % | $ | 1,313,432 | 74.73 | % | ||||||
Subordinated debt | 129,134 | 7.70 | 112,869 | 6.42 | ||||||||||
Debt investments in SLF JV I | 128,267 | 7.65 | 128,671 | 7.32 | ||||||||||
LLC equity interests of SLF JV I | 16,172 | 0.96 | 16,172 | 0.92 | ||||||||||
Purchased equity | 115,057 | 6.86 | 112,558 | 6.40 | ||||||||||
Equity grants | 48,805 | 2.91 | 48,805 | 2.78 | ||||||||||
Limited partnership interests | 24,831 | 1.48 | 25,158 | 1.43 | ||||||||||
Total | $ | 1,676,441 | 100.00 | % | $ | 1,757,665 | 100.00 | % |
December 31, 2020 | September 30, 2020 | |||||||||||||||||||||||||||||||||||||
Fair Value: | % of Total Investments | % of Net Assets | % of Total Investments | % of Net Assets | ||||||||||||||||||||||||||||||||||
Senior secured debt | $ | 1,467,577 | 85.70 | % | 152.09 | % | $ | 1,323,043 | 84.06 | % | 144.61 | % | ||||||||||||||||||||||||||
Debt investment in SLF JV I | 96,250 | 5.62 | % | 9.97 | % | 96,250 | 6.12 | % | 10.52 | % | ||||||||||||||||||||||||||||
Subordinated debt | 52,666 | 3.08 | % | 5.46 | % | 65,562 | 4.17 | % | 7.17 | % | ||||||||||||||||||||||||||||
Common equity and warrants | 36,836 | 2.15 | % | 3.82 | % | 37,847 | 2.40 | % | 4.14 | % | ||||||||||||||||||||||||||||
Preferred equity | 29,731 | 1.74 | % | 3.08 | % | 29,959 | 1.90 | % | 3.27 | % | ||||||||||||||||||||||||||||
LLC equity interests of SLF JV I | 29,264 | 1.71 | % | 3.03 | % | 21,190 | 1.35 | % | 2.32 | % | ||||||||||||||||||||||||||||
Total | $ | 1,712,324 | 100.00 | % | 177.45 | % | $ | 1,573,851 | 100.00 | % | 172.03 | % |
December 31, 2017 | September 30, 2017 | |||||||||||||||||||
Fair Value: | % of Total Investments | % of Total Net Assets | % of Total Investments | % of Total Net Assets | ||||||||||||||||
Senior secured debt | $ | 1,073,480 | 75.84 | % | 130.97 | % | $ | 1,202,699 | 78.01 | % | 138.61 | % | ||||||||
Subordinated debt | 98,368 | 6.95 | % | 12.00 | % | 93,438 | 6.06 | % | 10.77 | % | ||||||||||
Debt investments in SLF JV I | 128,267 | 9.06 | % | 15.65 | % | 128,671 | 8.35 | % | 14.83 | % | ||||||||||
LLC equity interests of SLF JV I | 4,880 | 0.34 | % | 0.60 | % | 5,525 | 0.36 | % | 0.64 | % | ||||||||||
Purchased equity | 77,688 | 5.49 | % | 9.48 | % | 78,655 | 5.10 | % | 9.07 | % | ||||||||||
Equity grants | 7,097 | 0.50 | % | 0.87 | % | 6,954 | 0.45 | % | 0.80 | % | ||||||||||
Limited partnership interests | 25,624 | 1.82 | % | 3.13 | % | 25,813 | 1.67 | % | 2.97 | % | ||||||||||
Total | $ | 1,415,404 | 100.00 | % | 172.70 | % | $ | 1,541,755 | 100.00 | % | 177.69 | % |
December 31, 2020 | September 30, 2020 | |||||||||||||||||||||||||
Cost: | % of Total Investments | % of Total Investments | ||||||||||||||||||||||||
Northeast | $ | 546,733 | 31.09 | % | $ | 495,440 | 29.69 | % | ||||||||||||||||||
West | 354,623 | 20.18 | % | 330,468 | 19.80 | % | ||||||||||||||||||||
Midwest | 268,098 | 15.25 | % | 285,674 | 17.11 | % | ||||||||||||||||||||
International | 245,318 | 13.96 | % | 210,963 | 12.64 | % | ||||||||||||||||||||
Southeast | 171,853 | 9.78 | % | 171,330 | 10.26 | % | ||||||||||||||||||||
South | 70,073 | 3.99 | % | 72,150 | 4.32 | % | ||||||||||||||||||||
Southwest | 65,662 | 3.74 | % | 67,867 | 4.07 | % | ||||||||||||||||||||
Northwest | 35,301 | 2.01 | % | 35,278 | 2.11 | % | ||||||||||||||||||||
Total | $ | 1,757,661 | 100.00 | % | $ | 1,669,170 | 100.00 | % |
December 31, 2017 | September 30, 2017 | |||||||||||||
Cost: | % of Total Investments | % of Total Investments | ||||||||||||
Northeast U.S. | $ | 636,226 | 37.95 | % | $ | 648,105 | 36.87 | % | ||||||
Southwest U.S. | 270,151 | 16.11 | % | 271,484 | 15.45 | % | ||||||||
West U.S. | 267,702 | 15.97 | % | 328,673 | 18.70 | % | ||||||||
Midwest U.S. | 236,992 | 14.14 | % | 258,895 | 14.73 | % | ||||||||
Southeast U.S. | 187,996 | 11.21 | % | 176,460 | 10.04 | % | ||||||||
International | 65,997 | 3.94 | % | 62,649 | 3.56 | % | ||||||||
Northwest U.S. | 11,377 | 0.68 | % | 11,399 | 0.65 | % | ||||||||
Total | $ | 1,676,441 | 100.00 | % | $ | 1,757,665 | 100.00 | % |
December 31, 2017 | September 30, 2017 | |||||||||||||||||||
Fair Value: | % of Total Investments | % of Total Net Assets | % of Total Investments | % of Total Net Assets | ||||||||||||||||
Northeast U.S. | $ | 511,200 | 36.12 | % | 62.37 | % | $ | 539,803 | 35.01 | % | 62.22 | % | ||||||||
Southwest U.S. | 206,194 | 14.57 | % | 25.16 | % | 224,233 | 14.54 | % | 25.84 | % | ||||||||||
West U.S. | 237,214 | 16.76 | % | 28.94 | % | 297,716 | 19.31 | % | 34.31 | % | ||||||||||
Midwest U.S. | 183,896 | 12.99 | % | 22.44 | % | 224,111 | 14.54 | % | 25.83 | % | ||||||||||
Southeast U.S. | 191,206 | 13.51 | % | 23.33 | % | 179,460 | 11.64 | % | 20.68 | % | ||||||||||
International | 74,089 | 5.23 | % | 9.04 | % | 64,780 | 4.20 | % | 7.47 | % | ||||||||||
Northwest U.S. | 11,605 | 0.82 | % | 1.42 | % | 11,652 | 0.76 | % | 1.34 | % | ||||||||||
Total | $ | 1,415,404 | 100.00 | % | 172.70 | % | $ | 1,541,755 | 100.00 | % | 177.69 | % |
December 31, 2020 | September 30, 2020 | |||||||||||||||||||||||||||||||||||||
Fair Value: | % of Total Investments | % of Net Assets | % of Total Investments | % of Net Assets | ||||||||||||||||||||||||||||||||||
Northeast | $ | 510,433 | 29.81 | % | 52.89 | % | $ | 446,499 | 28.38 | % | 48.81 | % | ||||||||||||||||||||||||||
West | 356,515 | 20.82 | % | 36.95 | % | 325,708 | 20.69 | % | 35.60 | % | ||||||||||||||||||||||||||||
Midwest | 255,389 | 14.91 | % | 26.47 | % | 252,482 | 16.04 | % | 27.60 | % | ||||||||||||||||||||||||||||
International | 254,107 | 14.84 | % | 26.33 | % | 213,741 | 13.58 | % | 23.36 | % | ||||||||||||||||||||||||||||
Southeast | 170,994 | 9.99 | % | 17.72 | % | 165,516 | 10.52 | % | 18.09 | % | ||||||||||||||||||||||||||||
South | 67,211 | 3.93 | % | 6.97 | % | 70,551 | 4.48 | % | 7.71 | % | ||||||||||||||||||||||||||||
Southwest | 63,526 | 3.71 | % | 6.58 | % | 65,647 | 4.17 | % | 7.18 | % | ||||||||||||||||||||||||||||
Northwest | 34,149 | 1.99 | % | 3.54 | % | 33,707 | 2.14 | % | 3.68 | % | ||||||||||||||||||||||||||||
Total | $ | 1,712,324 | 100.00 | % | 177.45 | % | $ | 1,573,851 | 100.00 | % | 172.03 | % |
December 31, 2020 | September 30, 2020 | |||||||||||||||||||||||||
Cost: | % of Total Investments | % of Total Investments | ||||||||||||||||||||||||
Application Software | $ | 220,237 | 12.51 | % | $ | 162,536 | 9.71 | % | ||||||||||||||||||
Multi-Sector Holdings (1) | 147,238 | 8.38 | 148,116 | 8.87 | ||||||||||||||||||||||
Data Processing & Outsourced Services | 131,783 | 7.50 | 109,744 | 6.57 | ||||||||||||||||||||||
Pharmaceuticals | 111,557 | 6.35 | 99,471 | 5.96 | ||||||||||||||||||||||
Biotechnology | 108,379 | 6.17 | 89,447 | 5.36 | ||||||||||||||||||||||
Health Care Services | 73,758 | 4.20 | 71,139 | 4.26 | ||||||||||||||||||||||
Specialized Finance | 69,978 | 3.98 | 51,909 | 3.11 | ||||||||||||||||||||||
Personal Products | 55,005 | 3.13 | 50,091 | 3.00 | ||||||||||||||||||||||
Movies & Entertainment | 50,340 | 2.86 | 44,691 | 2.68 | ||||||||||||||||||||||
Property & Casualty Insurance | 47,971 | 2.73 | 47,995 | 2.88 | ||||||||||||||||||||||
Integrated Telecommunication Services | 44,499 | 2.53 | 44,583 | 2.67 | ||||||||||||||||||||||
Real Estate Services | 38,946 | 2.22 | 39,023 | 2.34 | ||||||||||||||||||||||
Specialty Chemicals | 38,581 | 2.20 | 44,786 | 2.68 | ||||||||||||||||||||||
Fertilizers & Agricultural Chemicals | 34,467 | 1.96 | 33,743 | 2.02 | ||||||||||||||||||||||
Aerospace & Defense | 34,018 | 1.94 | 27,964 | 1.68 | ||||||||||||||||||||||
Auto Parts & Equipment | 33,651 | 1.91 | 33,649 | 2.02 | ||||||||||||||||||||||
Internet Services & Infrastructure | 33,573 | 1.91 | 28,631 | 1.72 | ||||||||||||||||||||||
Oil & Gas Refining & Marketing | 31,097 | 1.77 | 31,132 | 1.87 | ||||||||||||||||||||||
Managed Health Care | 27,437 | 1.56 | 27,479 | 1.65 | ||||||||||||||||||||||
Electronic Components | 26,800 | 1.52 | 25,600 | 1.53 | ||||||||||||||||||||||
Oil & Gas Storage & Transportation | 25,965 | 1.48 | 26,615 | 1.59 | ||||||||||||||||||||||
Research & Consulting Services | 24,830 | 1.41 | 24,837 | 1.49 | ||||||||||||||||||||||
Airport Services | 22,341 | 1.27 | 22,376 | 1.34 | ||||||||||||||||||||||
Health Care Supplies | 21,806 | 1.24 | 21,660 | 1.30 | ||||||||||||||||||||||
Health Care Technology | 21,460 | 1.22 | 21,499 | 1.29 | ||||||||||||||||||||||
Construction & Engineering | 21,384 | 1.22 | 13,277 | 0.80 | ||||||||||||||||||||||
Independent Power Producers & Energy Traders | 21,224 | 1.21 | 21,462 | 1.29 | ||||||||||||||||||||||
Diversified Support Services | 18,795 | 1.07 | 18,797 | 1.13 | ||||||||||||||||||||||
Industrial Machinery | 18,647 | 1.06 | 15,081 | 0.90 | ||||||||||||||||||||||
Insurance Brokers | 16,903 | 0.96 | 17,546 | 1.05 | ||||||||||||||||||||||
Systems Software | 16,842 | 0.96 | 20,694 | 1.24 | ||||||||||||||||||||||
Electrical Components & Equipment | 15,984 | 0.91 | 20,934 | 1.25 | ||||||||||||||||||||||
Hotels, Resorts & Cruise Lines | 15,360 | 0.87 | 15,378 | 0.92 | ||||||||||||||||||||||
IT Consulting & Other Services | 14,905 | 0.85 | 14,919 | 0.89 | ||||||||||||||||||||||
Internet & Direct Marketing Retail | 14,803 | 0.84 | 14,802 | 0.89 | ||||||||||||||||||||||
Airlines | 14,259 | 0.81 | 10,535 | 0.63 | ||||||||||||||||||||||
Advertising | 13,611 | 0.77 | 13,611 | 0.82 | ||||||||||||||||||||||
Health Care Distributors | 12,795 | 0.73 | 12,810 | 0.77 | ||||||||||||||||||||||
Apparel, Accessories & Luxury Goods | 12,574 | 0.72 | 13,734 | 0.82 | ||||||||||||||||||||||
Restaurants | 10,327 | 0.59 | 10,248 | 0.61 | ||||||||||||||||||||||
Commercial Printing | 7,841 | 0.45 | 7,868 | 0.47 | ||||||||||||||||||||||
Education Services | 7,438 | 0.42 | 22,926 | 1.37 | ||||||||||||||||||||||
Food Retail | 6,857 | 0.39 | 6,851 | 0.41 | ||||||||||||||||||||||
Diversified Real Estate Activities | 6,283 | 0.36 | 15,288 | 0.92 | ||||||||||||||||||||||
Trading Companies & Distributors | 5,718 | 0.33 | 10,228 | 0.61 | ||||||||||||||||||||||
Oil & Gas Equipment & Services | 3,163 | 0.18 | 3,313 | 0.20 | ||||||||||||||||||||||
Construction Materials | 2,174 | 0.12 | 2,150 | 0.13 | ||||||||||||||||||||||
Leisure Facilities | 1,887 | 0.11 | 1,887 | 0.11 | ||||||||||||||||||||||
Specialty Stores | 1,305 | 0.07 | 1,305 | 0.08 | ||||||||||||||||||||||
Thrifts & Mortgage Finance | 752 | 0.04 | 938 | 0.06 | ||||||||||||||||||||||
Other Diversified Financial Services | 113 | 0.01 | 113 | 0.01 | ||||||||||||||||||||||
General Merchandise Stores | — | — | 19,220 | 1.15 | ||||||||||||||||||||||
Metal & Glass Containers | — | — | 11,273 | 0.68 | ||||||||||||||||||||||
Health Care Facilities | — | — | 3,133 | 0.19 | ||||||||||||||||||||||
Specialized REITs | — | — | 133 | 0.01 | ||||||||||||||||||||||
Total | $ | 1,757,661 | 100.00 | % | $ | 1,669,170 | 100.00 | % |
December 31, 2017 | September 30, 2017 | |||||||||||||
Cost: | % of Total Investments | % of Total Investments | ||||||||||||
Healthcare services | $ | 209,030 | 12.48 | % | $ | 210,527 | 11.98 | % | ||||||
Internet software & services | 200,405 | 11.95 | 270,192 | 15.37 | ||||||||||
Multi-sector holdings (1) | 173,005 | 10.32 | 173,427 | 9.87 | ||||||||||
Healthcare equipment | 99,614 | 5.94 | 99,614 | 5.67 | ||||||||||
Data processing & outsourced services | 80,579 | 4.81 | 77,673 | 4.42 | ||||||||||
Environmental & facilities services | 69,576 | 4.15 | 49,902 | 2.84 | ||||||||||
Construction & engineering | 68,726 | 4.10 | 67,879 | 3.86 | ||||||||||
Pharmaceuticals | 60,826 | 3.63 | 60,810 | 3.46 | ||||||||||
Advertising | 55,596 | 3.32 | 84,720 | 4.82 | ||||||||||
Education services | 51,733 | 3.09 | 50,013 | 2.85 | ||||||||||
Airlines | 50,755 | 3.03 | 57,602 | 3.28 | ||||||||||
Specialty stores | 46,407 | 2.77 | 58,530 | 3.33 | ||||||||||
Integrated telecommunication services | 41,005 | 2.45 | 30,840 | 1.75 | ||||||||||
Technology distributors | 34,264 | 2.04 | — | — | ||||||||||
Leisure facilities | 32,898 | 1.96 | 30,931 | 1.76 | ||||||||||
Oil & gas refining & marketing | 32,732 | 1.95 | — | — | ||||||||||
Air freight and logistics | 32,530 | 1.94 | 32,530 | 1.85 | ||||||||||
Housewares & specialties | 29,856 | 1.78 | 29,852 | 1.70 | ||||||||||
Oil & gas equipment services | 27,546 | 1.64 | 27,598 | 1.57 | ||||||||||
Consumer electronics | 24,889 | 1.48 | 23,176 | 1.32 | ||||||||||
Home improvement retail | 22,566 | 1.35 | 22,944 | 1.31 | ||||||||||
Auto parts & equipment | 21,191 | 1.26 | 21,191 | 1.21 | ||||||||||
Oil & gas exploration & production | 17,913 | 1.07 | — | — | ||||||||||
Research & consulting services | 17,135 | 1.02 | 37,952 | 2.16 | ||||||||||
Diversified support services | 16,578 | 0.99 | 22,724 | 1.29 | ||||||||||
Healthcare technology | 14,357 | 0.86 | — | — | ||||||||||
Security & alarm services | 13,183 | 0.79 | 13,214 | 0.75 | ||||||||||
Real estate services | 12,974 | 0.77 | 13,011 | 0.74 | ||||||||||
Other diversified financial services | 11,334 | 0.68 | 12,079 | 0.69 | ||||||||||
Casinos & gaming | 11,277 | 0.67 | 23,309 | 1.33 | ||||||||||
Commodity chemicals | 10,950 | 0.65 | — | — | ||||||||||
Healthcare distributors | 8,911 | 0.53 | — | — | ||||||||||
Precious metals & minerals | 7,426 | 0.44 | 7,459 | 0.42 | ||||||||||
Trucking | 7,055 | 0.42 | 7,081 | 0.40 | ||||||||||
Thrift & mortgage finance | 6,905 | 0.41 | 7,240 | 0.41 | ||||||||||
Distributors | 6,617 | 0.39 | 14,963 | 0.85 | ||||||||||
Industrial machinery | 6,586 | 0.39 | 15,074 | 0.86 | ||||||||||
Commercial printing | 5,968 | 0.36 | 5,983 | 0.34 | ||||||||||
Apparel, accessories & luxury goods | 5,165 | 0.31 | 5,165 | 0.29 | ||||||||||
Wireless telecommunication services | 5,000 | 0.30 | — | — | ||||||||||
Restaurants | 4,898 | 0.29 | 4,910 | 0.28 | ||||||||||
Application software | 4,818 | 0.29 | 51,444 | 2.93 | ||||||||||
General merchandise stores | 4,206 | 0.25 | — | — | ||||||||||
Food retail | 4,178 | 0.25 | 4,176 | 0.24 | ||||||||||
IT consulting & other services | 4,060 | 0.24 | 4,127 | 0.23 | ||||||||||
Specialized finance | 3,224 | 0.19 | 3,224 | 0.18 | ||||||||||
Human resources & employment services | (6 | ) | — | — | — | |||||||||
Hypermarkets & super centers | — | — | 11,979 | 0.68 | ||||||||||
Computer & electronics retail | — | — | 6,399 | 0.36 | ||||||||||
Multi-utilities | — | — | 6,201 | 0.35 | ||||||||||
Total | $ | 1,676,441 | 100.00 | % | $ | 1,757,665 | 100.00 | % |
December 31, 2017 | September 30, 2017 | |||||||||||||||||||
Fair Value: | % of Total Investments | % of Total Net Assets | % of Total Investments | % of Total Net Assets | ||||||||||||||||
Internet software & services | $ | 194,291 | 13.71 | % | 23.70 | % | $ | 265,076 | 17.20 | % | 30.56 | % | ||||||||
Multi-sector holdings (1) | 163,865 | 11.58 | 19.99 | 164,511 | 10.67 | 18.96 | ||||||||||||||
Healthcare services | 76,517 | 5.41 | 9.34 | 93,912 | 6.09 | 10.82 | ||||||||||||||
Data processing & outsourced services | 71,357 | 5.04 | 8.71 | 68,314 | 4.43 | 7.87 | ||||||||||||||
Environmental & facilities services | 69,975 | 4.94 | 8.54 | 50,659 | 3.29 | 5.84 | ||||||||||||||
Pharmaceuticals | 62,958 | 4.45 | 7.68 | 62,770 | 4.07 | 7.23 | ||||||||||||||
Airlines | 58,631 | 4.14 | 7.15 | 59,511 | 3.86 | 6.86 | ||||||||||||||
Healthcare equipment | 56,586 | 4.00 | 6.90 | 72,922 | 4.73 | 8.40 | ||||||||||||||
Construction & engineering | 51,113 | 3.61 | 6.24 | 50,269 | 3.26 | 5.79 | ||||||||||||||
Advertising | 45,970 | 3.25 | 5.61 | 83,648 | 5.43 | 9.64 | ||||||||||||||
Specialty stores | 45,508 | 3.22 | 5.55 | 56,867 | 3.69 | 6.55 | ||||||||||||||
Education services | 35,598 | 2.52 | 4.34 | 38,254 | 2.48 | 4.41 | ||||||||||||||
Integrated telecommunication services | 35,580 | 2.51 | 4.34 | 31,358 | 2.03 | 3.61 | ||||||||||||||
Leisure facilities | 34,634 | 2.45 | 4.23 | 32,591 | 2.11 | 3.76 | ||||||||||||||
Technology distributors | 34,253 | 2.42 | 4.18 | — | — | — | ||||||||||||||
Oil & gas refining & marketing | 32,986 | 2.33 | 4.02 | — | — | — | ||||||||||||||
Housewares & specialties | 29,925 | 2.11 | 3.65 | 29,775 | 1.93 | 3.43 | ||||||||||||||
Oil & gas equipment services | 28,620 | 2.02 | 3.49 | 28,347 | 1.84 | 3.27 | ||||||||||||||
Consumer electronics | 25,901 | 1.83 | 3.16 | 24,066 | 1.56 | 2.77 | ||||||||||||||
Home improvement retail | 24,600 | 1.74 | 3.00 | 24,784 | 1.61 | 2.86 | ||||||||||||||
Auto parts & equipment | 21,661 | 1.53 | 2.64 | 21,715 | 1.41 | 2.50 | ||||||||||||||
Research & consulting services | 18,761 | 1.33 | 2.29 | 38,531 | 2.50 | 4.44 | ||||||||||||||
Oil & gas exploration & production | 17,865 | 1.26 | 2.18 | — | — | — | ||||||||||||||
Diversified support services | 16,143 | 1.14 | 1.97 | 22,554 | 1.46 | 2.60 | ||||||||||||||
Healthcare technology | 14,609 | 1.03 | 1.78 | — | — | — | ||||||||||||||
Security & alarm services | 13,011 | 0.92 | 1.59 | 13,103 | 0.85 | 1.51 | ||||||||||||||
Real estate services | 12,786 | 0.90 | 1.56 | 13,014 | 0.84 | 1.50 | ||||||||||||||
Casinos & gaming | 11,446 | 0.81 | 1.40 | 23,495 | 1.52 | 2.71 | ||||||||||||||
Commodity chemicals | 10,953 | 0.77 | 1.34 | — | — | — | ||||||||||||||
Other diversified financial services | 10,951 | 0.77 | 1.34 | 11,646 | 0.76 | 1.34 | ||||||||||||||
Healthcare distributors | 9,053 | 0.64 | 1.10 | — | — | — | ||||||||||||||
Precious metals & minerals | 7,490 | 0.53 | 0.91 | 7,464 | 0.48 | 0.86 | ||||||||||||||
Trucking | 7,062 | 0.50 | 0.86 | 7,106 | 0.46 | 0.82 | ||||||||||||||
Application software | 6,574 | 0.46 | 0.80 | 53,905 | 3.50 | 6.21 | ||||||||||||||
Distributors | 6,516 | 0.46 | 0.80 | 14,829 | 0.96 | 1.71 | ||||||||||||||
Industrial machinery | 6,465 | 0.46 | 0.79 | 15,004 | 0.97 | 1.73 | ||||||||||||||
Commercial printing | 6,045 | 0.43 | 0.74 | 6,045 | 0.39 | 0.70 | ||||||||||||||
Leisure products | 5,900 | 0.42 | 0.72 | 5,900 | 0.38 | 0.68 | ||||||||||||||
Thrift & mortgage finance | 5,629 | 0.40 | 0.69 | 6,129 | 0.40 | 0.71 | ||||||||||||||
Wireless telecommunication services | 5,044 | 0.36 | 0.62 | — | — | — | ||||||||||||||
Restaurants | 4,851 | 0.34 | 0.59 | 4,917 | 0.32 | 0.57 | ||||||||||||||
General Merchandise Stores | 4,484 | 0.32 | 0.55 | — | — | — | ||||||||||||||
Food retail | 4,231 | 0.30 | 0.52 | 4,251 | 0.28 | 0.49 | ||||||||||||||
IT consulting & other services | 3,918 | 0.28 | 0.48 | 3,927 | 0.25 | 0.45 | ||||||||||||||
Specialized finance | 3,276 | 0.23 | 0.40 | 3,278 | 0.21 | 0.38 | ||||||||||||||
Air freight and logistics | 1,810 | 0.13 | 0.22 | 1,810 | 0.12 | 0.21 | ||||||||||||||
Human resources & employment services | 2 | — | — | — | — | — | ||||||||||||||
Hypermarkets & super centers | — | — | — | 11,504 | 0.75 | 1.33 | ||||||||||||||
Computer & electronics retail | — | — | — | 6,498 | 0.42 | 0.75 | ||||||||||||||
Multi-utilities | — | — | — | 6,255 | 0.41 | 0.72 | ||||||||||||||
Apparel, accessories & luxury goods | — | — | — | 1,241 | 0.08 | 0.14 | ||||||||||||||
Total | $ | 1,415,404 | 100.00 | % | 172.70 | % | $ | 1,541,755 | 100.00 | % | 177.69 | % |
December 31, 2020 | September 30, 2020 | |||||||||||||||||||||||||||||||||||||
Fair Value: | % of Total Investments | % of Net Assets | % of Total Investments | % of Net Assets | ||||||||||||||||||||||||||||||||||
Application Software | $ | 221,153 | 12.88 | % | 22.88 | % | $ | 160,591 | 10.21 | % | 17.57 | % | ||||||||||||||||||||||||||
Multi-Sector Holdings (1) | 129,053 | 7.54 | 13.37 | 121,751 | 7.74 | 13.31 | ||||||||||||||||||||||||||||||||
Data Processing & Outsourced Services | 122,188 | 7.14 | 12.66 | 99,589 | 6.33 | 10.89 | ||||||||||||||||||||||||||||||||
Pharmaceuticals | 118,253 | 6.91 | 12.26 | 103,092 | 6.55 | 11.27 | ||||||||||||||||||||||||||||||||
Biotechnology | 111,941 | 6.54 | 11.60 | 96,624 | 6.14 | 10.56 | ||||||||||||||||||||||||||||||||
Specialized Finance | 69,215 | 4.04 | 7.17 | 48,425 | 3.08 | 5.29 | ||||||||||||||||||||||||||||||||
Health Care Services | 62,275 | 3.64 | 6.45 | 59,925 | 3.81 | 6.55 | ||||||||||||||||||||||||||||||||
Personal Products | 55,959 | 3.27 | 5.80 | 51,024 | 3.24 | 5.58 | ||||||||||||||||||||||||||||||||
Movies & Entertainment | 51,318 | 3.00 | 5.32 | 43,592 | 2.77 | 4.76 | ||||||||||||||||||||||||||||||||
Property & Casualty Insurance | 48,067 | 2.81 | 4.98 | 46,737 | 2.97 | 5.11 | ||||||||||||||||||||||||||||||||
Integrated Telecommunication Services | 42,543 | 2.48 | 4.41 | 41,091 | 2.61 | 4.49 | ||||||||||||||||||||||||||||||||
Real Estate Services | 38,218 | 2.23 | 3.96 | 37,723 | 2.40 | 4.12 | ||||||||||||||||||||||||||||||||
Specialty Chemicals | 37,006 | 2.16 | 3.84 | 39,008 | 2.48 | 4.26 | ||||||||||||||||||||||||||||||||
Fertilizers & Agricultural Chemicals | 34,567 | 2.02 | 3.58 | 33,719 | 2.14 | 3.69 | ||||||||||||||||||||||||||||||||
Auto Parts & Equipment | 32,516 | 1.90 | 3.37 | 31,382 | 1.99 | 3.43 | ||||||||||||||||||||||||||||||||
Aerospace & Defense | 31,694 | 1.85 | 3.28 | 24,521 | 1.56 | 2.68 | ||||||||||||||||||||||||||||||||
Internet Services & Infrastructure | 31,322 | 1.83 | 3.25 | 26,587 | 1.69 | 2.91 | ||||||||||||||||||||||||||||||||
Oil & Gas Refining & Marketing | 29,673 | 1.73 | 3.08 | 29,826 | 1.90 | 3.26 | ||||||||||||||||||||||||||||||||
Electronic Components | 29,207 | 1.71 | 3.03 | 26,552 | 1.69 | 2.90 | ||||||||||||||||||||||||||||||||
Managed Health Care | 27,141 | 1.59 | 2.81 | 26,681 | 1.70 | 2.92 | ||||||||||||||||||||||||||||||||
Research & Consulting Services | 24,945 | 1.46 | 2.59 | 24,212 | 1.54 | 2.65 | ||||||||||||||||||||||||||||||||
Oil & Gas Storage & Transportation | 23,231 | 1.36 | 2.41 | 25,749 | 1.64 | 2.81 | ||||||||||||||||||||||||||||||||
Health Care Technology | 22,109 | 1.29 | 2.29 | 22,058 | 1.40 | 2.41 | ||||||||||||||||||||||||||||||||
Construction & Engineering | 21,954 | 1.28 | 2.28 | 13,465 | 0.86 | 1.47 | ||||||||||||||||||||||||||||||||
Health Care Supplies | 21,755 | 1.27 | 2.25 | 21,634 | 1.37 | 2.36 | ||||||||||||||||||||||||||||||||
Airport Services | 21,275 | 1.24 | 2.20 | 21,283 | 1.35 | 2.33 | ||||||||||||||||||||||||||||||||
Independent Power Producers & Energy Traders | 20,538 | 1.20 | 2.13 | 20,812 | 1.32 | 2.27 | ||||||||||||||||||||||||||||||||
Insurance Brokers | 18,766 | 1.10 | 1.94 | 18,083 | 1.15 | 1.98 | ||||||||||||||||||||||||||||||||
Diversified Support Services | 18,302 | 1.07 | 1.90 | 17,689 | 1.12 | 1.93 | ||||||||||||||||||||||||||||||||
Airlines | 17,630 | 1.03 | 1.83 | 13,132 | 0.83 | 1.44 | ||||||||||||||||||||||||||||||||
Hotels, Resorts & Cruise Lines | 17,057 | 1.00 | 1.77 | 17,081 | 1.09 | 1.87 | ||||||||||||||||||||||||||||||||
Systems Software | 17,017 | 0.99 | 1.76 | 20,481 | 1.30 | 2.24 | ||||||||||||||||||||||||||||||||
Electrical Components & Equipment | 16,199 | 0.95 | 1.68 | 20,465 | 1.30 | 2.24 | ||||||||||||||||||||||||||||||||
Internet & Direct Marketing Retail | 16,015 | 0.94 | 1.66 | 15,307 | 0.97 | 1.67 | ||||||||||||||||||||||||||||||||
Industrial Machinery | 15,537 | 0.91 | 1.61 | 11,643 | 0.74 | 1.27 | ||||||||||||||||||||||||||||||||
IT Consulting & Other Services | 14,259 | 0.83 | 1.48 | 13,905 | 0.88 | 1.52 | ||||||||||||||||||||||||||||||||
Advertising | 13,857 | 0.81 | 1.44 | 13,440 | 0.85 | 1.47 | ||||||||||||||||||||||||||||||||
Health Care Distributors | 12,511 | 0.73 | 1.30 | 12,260 | 0.78 | 1.34 | ||||||||||||||||||||||||||||||||
Restaurants | 10,225 | 0.60 | 1.06 | 7,886 | 0.50 | 0.86 | ||||||||||||||||||||||||||||||||
Diversified Real Estate Activities | 7,610 | 0.44 | 0.79 | 16,846 | 1.07 | 1.84 | ||||||||||||||||||||||||||||||||
Commercial Printing | 7,306 | 0.43 | 0.76 | 7,334 | 0.47 | 0.80 | ||||||||||||||||||||||||||||||||
Food Retail | 6,998 | 0.41 | 0.73 | 6,998 | 0.44 | 0.76 | ||||||||||||||||||||||||||||||||
Apparel, Accessories & Luxury Goods | 6,753 | 0.39 | 0.70 | 7,856 | 0.50 | 0.86 | ||||||||||||||||||||||||||||||||
Education Services | 6,653 | 0.39 | 0.69 | 7,088 | 0.45 | 0.77 | ||||||||||||||||||||||||||||||||
Trading Companies & Distributors | 5,698 | 0.33 | 0.59 | 10,069 | 0.64 | 1.10 | ||||||||||||||||||||||||||||||||
Oil & Gas Equipment & Services | 2,471 | 0.14 | 0.26 | 2,588 | 0.16 | 0.28 | ||||||||||||||||||||||||||||||||
Construction Materials | 2,182 | 0.13 | 0.23 | 2,073 | 0.13 | 0.23 | ||||||||||||||||||||||||||||||||
Thrifts & Mortgage Finance | 113 | 0.01 | 0.01 | 353 | 0.02 | 0.04 | ||||||||||||||||||||||||||||||||
Leisure Facilities | 49 | — | 0.01 | — | — | — | ||||||||||||||||||||||||||||||||
General Merchandise Stores | — | — | — | 17,877 | 1.14 | 1.95 | ||||||||||||||||||||||||||||||||
Metal & Glass Containers | — | — | — | 11,833 | 0.75 | 1.29 | ||||||||||||||||||||||||||||||||
Health Care Facilities | — | — | — | 3,640 | 0.23 | 0.40 | ||||||||||||||||||||||||||||||||
Specialized REITs | — | — | — | 222 | 0.01 | 0.02 | ||||||||||||||||||||||||||||||||
Leisure Products | — | — | — | 49 | — | 0.01 | ||||||||||||||||||||||||||||||||
Total | $ | 1,712,324 | 100.00 | % | 177.45 | % | $ | 1,573,851 | 100.00 | % | 172.03 | % |
December 31, 2020 | September 30, 2020 | |||||||||||||
Senior secured loans (1) | $313,978 | $307,579 | ||||||||||||
Weighted average interest rate on senior secured loans (2) | 5.65% | 5.44% | ||||||||||||
Number of borrowers in SLF JV I | 56 | 56 | ||||||||||||
Largest exposure to a single borrower (1) | $9,879 | $10,487 | ||||||||||||
Total of five largest loan exposures to borrowers (1) | $46,981 | $49,097 |
December 31, 2017 | September 30, 2017 | |||
Senior secured loans (1) | $249,967 | $245,063 | ||
Weighted average interest rate on senior secured loans (2) | 7.81% | 7.70% | ||
Number of borrowers in SLF JV I | 34 | 32 | ||
Largest exposure to a single borrower (1) | $18,251 | $18,374 | ||
Total of five largest loan exposures to borrowers (1) | $77,991 | $82,728 |
Portfolio Company | Industry | Investment Type | Maturity Date | Current Interest Rate(1)(4) | Cash Interest Rate | Principal | Cost | Fair Value (2) | |||||||||||||||
AdVenture Interactive, Corp. (3) | Advertising | 927 Common Stock Shares | $ | 1,088 | $ | 656 | |||||||||||||||||
Allied Universal Holdco LLC (3) | Security & alarm services | First Lien | 7/28/2022 | LIBOR+3.75% (1% floor) | 5.44 | % | $ | 6,965 | 7,019 | 6,920 | |||||||||||||
Ameritox Ltd. (3)(5) | Healthcare services | First Lien | 4/11/2021 | LIBOR+5% (1% floor) 3% PIK | 6.69 | % | 5,926 | 5,638 | 721 | ||||||||||||||
301,913.06 Class B Preferred Units | 302 | — | |||||||||||||||||||||
928.96 Class A Common Units | 5,474 | — | |||||||||||||||||||||
Total Ameritox Ltd. | 5,926 | 11,414 | 721 | ||||||||||||||||||||
Asset International, Inc. | Research & Consulting Services | First Lien | 12/29/2024 | LIBOR+4.5% (1% floor) | 6.19 | % | 7,000 | 6,860 | 6,860 | ||||||||||||||
BJ's Wholesale Club, Inc. | Hypermarkets & super centers | First Lien | 1/26/2024 | LIBOR+3.75% (1% floor) | 4.95 | % | 4,975 | 4,981 | 4,902 | ||||||||||||||
Chloe Ox Parent LLC | Healthcare services | First Lien | 12/14/2024 | LIBOR+5% (1% floor) | 6.64 | % | 10,000 | 9,900 | 10,037 | ||||||||||||||
Compuware Corporation | Internet software & services | First Lien B3 | 12/15/2021 | LIBOR+4.25% (1% floor) | 5.63 | % | 11,126 | 11,019 | 11,213 | ||||||||||||||
DFT Intermediate LLC | Specialized finance | First Lien | 3/1/2023 | LIBOR+5.5% (1% floor) | 6.85 | % | 10,669 | 10,433 | 10,592 | ||||||||||||||
Digital River, Inc. | Internet software & services | First Lien | 2/12/2021 | LIBOR+6.5% (1% floor) | 8.08 | % | 2,775 | 2,786 | 2,782 | ||||||||||||||
Dodge Data & Analytics LLC (3) | Data processing & outsourced services | First Lien | 10/31/2019 | LIBOR+8.75% (1% floor) | 10.13 | % | 9,199 | 9,228 | 9,116 | ||||||||||||||
DTZ U.S. Borrower, LLC (3) | Real estate services | First Lien | 11/4/2021 | LIBOR+3.25% (1% floor) | 4.94 | % | 6,946 | 6,978 | 6,867 | ||||||||||||||
Edge Fitness, LLC | Leisure facilities | First Lien | 12/31/2019 | LIBOR+7.75% (1% floor) | 9.05 | % | 10,600 | 10,601 | 10,600 | ||||||||||||||
EOS Fitness Opco Holdings, LLC (3) | Leisure facilities | First Lien | 12/30/2019 | LIBOR+8.75% (0.75% floor) | 10.12 | % | 18,251 | 18,078 | 18,433 | ||||||||||||||
Everi Payments Inc. | Casinos & gaming | First Lien | 5/9/2024 | LIBOR+4.5% (1% floor) | 4.98 | % | 4,975 | 4,952 | 5,032 | ||||||||||||||
Falmouth Group Holdings Corp. | Specialty chemicals | First Lien | 12/13/2021 | LIBOR+6.75% (1% floor) | 8.44 | % | 4,528 | 4,497 | 4,528 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
Access CIG, LLC | First Lien Term Loan, LIBOR+3.75% cash due 2/27/2025 | 3.98 | % | Diversified Support Services | $ | 9,182 | $ | 9,149 | $ | 9,107 | |||||||||||||||||||
ADB Companies, LLC | First Lien Term Loan, LIBOR+6.25% cash due 12/18/2025 | 7.25 | % | Construction & Engineering | 6,667 | 6,500 | 6,533 | (4) | |||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+6.25% cash due 12/18/2025 | Construction & Engineering | — | (33) | (27) | (4)(5) | ||||||||||||||||||||||||
Total ADB Companies, LLC | 6,467 | 6,506 | |||||||||||||||||||||||||||
AdVenture Interactive, Corp. | 927 shares of common stock | Advertising | 1,390 | 1,416 | (4) | ||||||||||||||||||||||||
AI Ladder (Luxembourg) Subco S.a.r.l. | First Lien Term Loan, LIBOR+4.50% cash due 7/9/2025 | 4.65 | % | Electrical Components & Equipment | 6,011 | 5,894 | 5,974 | (4) | |||||||||||||||||||||
Airbnb, Inc. | First Lien Term Loan, LIBOR+7.50% cash due 4/17/2025 | 8.50 | % | Hotels, Resorts & Cruise Lines | 3,044 | 2,977 | 3,306 | (4) | |||||||||||||||||||||
Altice France S.A. | First Lien Term Loan, LIBOR+4.00% cash due 8/14/2026 | 4.24 | % | Integrated Telecommunication Services | 4,631 | 4,447 | 4,623 | ||||||||||||||||||||||
Alvogen Pharma US, Inc. | First Lien Term Loan, LIBOR+5.25% cash due 12/31/2023 | 6.25 | % | Pharmaceuticals | 9,879 | 9,643 | 9,500 | ||||||||||||||||||||||
Amplify Finco Pty Ltd. | First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026 | 5.00 | % | Movies & Entertainment | 7,940 | 7,861 | 7,384 | (4) | |||||||||||||||||||||
Anastasia Parent, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/11/2025 | Personal Products | 2,821 | 2,247 | 1,890 | (6) | |||||||||||||||||||||||
Apptio, Inc. | First Lien Term Loan, LIBOR+7.25% cash due 1/10/2025 | 8.25 | % | Application Software | 4,615 | 4,554 | 4,529 | (4) | |||||||||||||||||||||
First Lien Revolver, LIBOR+7.25% cash due 1/10/2025 | Application Software | — | (5) | (7) | (4)(5) | ||||||||||||||||||||||||
Total Apptio, Inc. | 4,549 | 4,522 | |||||||||||||||||||||||||||
Aurora Lux Finco S.À.R.L. | First Lien Term Loan, LIBOR+5.75% cash due 12/24/2026 | 6.75 | % | Airport Services | 6,451 | 6,314 | 6,013 | (4) | |||||||||||||||||||||
Blackhawk Network Holdings, Inc. | First Lien Term Loan, LIBOR+3.00% cash due 6/15/2025 | 3.15 | % | Data Processing & Outsourced Services | 9,750 | 9,734 | 9,517 | ||||||||||||||||||||||
Boxer Parent Company Inc. | First Lien Term Loan, LIBOR+4.25% cash due 10/2/2025 | 4.40 | % | Systems Software | 7,513 | 7,430 | 7,497 | (4) | |||||||||||||||||||||
Brazos Delaware II, LLC | First Lien Term Loan, LIBOR+4.00% cash due 5/21/2025 | 4.15 | % | Oil & Gas Equipment & Services | 7,311 | 7,288 | 6,405 | ||||||||||||||||||||||
C5 Technology Holdings, LLC | 171 Common Units | Data Processing & Outsourced Services | — | — | (4) | ||||||||||||||||||||||||
7,193,539.63 Preferred Units | Data Processing & Outsourced Services | 7,194 | 5,683 | (4) | |||||||||||||||||||||||||
Total C5 Technology Holdings, LLC | 7,194 | 5,683 | |||||||||||||||||||||||||||
Carrols Restaurant Group, Inc. | First Lien Term Loan, LIBOR+6.25% cash due 4/30/2026 | 7.25 | % | Restaurants | 3,980 | 3,792 | 3,965 | ||||||||||||||||||||||
CITGO Petroleum Corp. | First Lien Term Loan, LIBOR+6.25% cash due 3/28/2024 | 7.25 | % | Oil & Gas Refining & Marketing | 7,165 | 7,094 | 7,140 | (4) | |||||||||||||||||||||
Clear Channel Outdoor Holdings, Inc. | First Lien Term Loan, LIBOR+3.50% cash due 8/21/2026 | 3.71 | % | Advertising | 330 | 291 | 318 | ||||||||||||||||||||||
Connect U.S. Finco LLC | First Lien Term Loan, LIBOR+4.50% cash due 12/11/2026 | 5.50 | % | Alternative Carriers | 7,418 | 7,252 | 7,462 | ||||||||||||||||||||||
Curium Bidco S.à.r.l. | First Lien Term Loan, LIBOR+3.75% cash due 7/9/2026 | 4.00 | % | Biotechnology | 5,925 | 5,881 | 5,890 | ||||||||||||||||||||||
Dcert Buyer, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 10/16/2026 | 4.15 | % | Internet Services & Infrastructure | 7,940 | 7,920 | 7,945 | ||||||||||||||||||||||
Dealer Tire, LLC | First Lien Term Loan, LIBOR+4.25% cash due 12/12/2025 | 4.40 | % | Distributors | 940 | 902 | 937 | ||||||||||||||||||||||
eResearch Technology, Inc. | First Lien Term Loan, LIBOR+4.50% cash due 2/4/2027 | 5.50 | % | Application Software | 7,463 | 7,388 | 7,411 | ||||||||||||||||||||||
Gigamon, Inc. | First Lien Term Loan, LIBOR+4.25% cash due 12/27/2024 | 5.25 | % | Systems Software | 7,762 | 7,717 | 7,708 |
Portfolio Company | Industry | Investment Type | Maturity Date | Current Interest Rate(1)(4) | Cash Interest Rate | Principal | Cost | Fair Value (2) | |||||||||||||||
Garretson Resolution Group, Inc. | Diversified support services | First Lien | 5/22/2021 | LIBOR+6.5% (1% floor) | 8.19 | % | $ | 5,797 | $ | 5,780 | $ | 5,432 | |||||||||||
Gigamon Inc. | Systems software | First Lien | 12/18/2024 | LIBOR+4.5% (1% floor) | 6.03 | % | 8,000 | 7,920 | 7,960 | ||||||||||||||
InMotion Entertainment Group, LLC (3) | Consumer electronics | First Lien | 10/1/2021 | LIBOR+7.25% (1.25% floor) | 8.95 | % | 8,750 | 8,769 | 8,750 | ||||||||||||||
First Lien B | 10/1/2021 | LIBOR+7.25% (1.25% floor) | 8.95 | % | 8,750 | 8,660 | 8,750 | ||||||||||||||||
Total InMotion Entertainment Group, LLC | 17,500 | 17,429 | 17,500 | ||||||||||||||||||||
Keypath Education, Inc. (3) | Advertising | First Lien | 4/3/2022 | LIBOR+7% (1.00% floor) | 8.69 | % | 2,040 | 2,039 | 2,040 | ||||||||||||||
927 shares Common Stock | 1,391 | 815 | |||||||||||||||||||||
2,040 | 3,430 | 2,855 | |||||||||||||||||||||
Lift Brands, Inc. (3) | Leisure facilities | First Lien | 12/23/2019 | LIBOR+7.5% (1% floor) | 9.19 | % | 18,149 | 18,132 | 18,149 | ||||||||||||||
Metamorph US 3, LLC (3)(5) | Internet software & services | First Lien | 12/1/2020 | LIBOR+5.5% (1% floor) 2% PIK | 7.07 | % | 9,942 | 9,232 | 3,775 | ||||||||||||||
Motion Recruitment Partners LLC | Human resources & employment services | First Lien | 2/13/2020 | LIBOR+6% (1% floor) | 7.57 | % | 4,298 | 4,255 | 4,303 | ||||||||||||||
NAVEX Global, Inc. | Internet software & services | First Lien | 11/19/2021 | LIBOR+4.75% (1% floor) | 5.82 | % | 5,944 | 5,911 | 5,974 | ||||||||||||||
New IPT, Inc. (3) | Oil & gas equipment & services | First Lien | 3/17/2021 | LIBOR+5% (1% floor) | 6.69 | % | 1,794 | 1,794 | 1,794 | ||||||||||||||
Second Lien | 9/17/2021 | LIBOR+5.1% (1% floor) | 6.79 | % | 1,094 | 1,094 | 1,094 | ||||||||||||||||
21.876 Class A Common Units | — | 420 | |||||||||||||||||||||
Total New IPT, Inc. | 2,888 | 2,888 | 3,308 | ||||||||||||||||||||
Novetta Solutions, LLC | Internet software & services | First Lien | 9/30/2022 | LIBOR+5% (1% floor) | 6.70 | % | 6,102 | 6,053 | 5,937 | ||||||||||||||
OmniSYS Acquisition Corporation (3) | Diversified support services | First Lien | 11/21/2018 | LIBOR+7.5% (1% floor) | 9.19 | % | 10,896 | 10,899 | 10,873 | ||||||||||||||
Refac Optical Group (3) | Specialty stores | First Lien A | 9/30/2018 | LIBOR+8% | 9.56 | % | 4,111 | 4,098 | 4,111 | ||||||||||||||
Salient CRGT, Inc. (3) | IT consulting & other services | First Lien | 2/28/2022 | LIBOR+5.75% (1% floor) | 7.32 | % | 2,405 | 2,364 | 2,426 | ||||||||||||||
Scientific Games International, Inc. (3) | Casinos & gaming | First Lien | 8/14/2024 | LIBOR+3.25% | 4.67 | % | 6,615 | 6,583 | 6,677 | ||||||||||||||
SHO Holding I Corporation | Footwear | First Lien | 10/27/2022 | LIBOR+5% (1% floor) | 6.42 | % | 8,573 | 8,545 | 8,273 | ||||||||||||||
TravelClick, Inc. (3) | Internet software & services | Second Lien | 11/6/2021 | LIBOR+7.75% (1% floor) | 9.32 | % | 5,127 | 5,127 | 5,153 | ||||||||||||||
TV Borrower US, LLC | Integrated telecommunications services | First Lien | 2/22/2024 | LIBOR+4.75% (1% floor) | 6.44 | % | 2,034 | 2,025 | 2,045 | ||||||||||||||
Valet Merger Sub, Inc. (3) | Environmental & facilities services | First Lien | 9/24/2021 | LIBOR+7% (1% floor) | 8.57 | % | 12,965 | 12,838 | 12,965 | ||||||||||||||
Vubiquity, Inc. | Application software | First Lien | 8/12/2021 | LIBOR+5.5% (1% floor) | 7.19 | % | 2,646 | 2,630 | 2,626 | ||||||||||||||
$ | 249,967 | $ | 255,973 | $ | 239,601 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
Global Medical Response, Inc. | First Lien Term Loan, LIBOR+4.75% cash due 10/2/2025 | 5.75 | % | Health Care Services | $ | 2,231 | $ | 2,188 | $ | 2,221 | |||||||||||||||||||
Guidehouse LLP | Second Lien Term Loan, LIBOR+8.00% cash due 5/1/2026 | 8.15 | % | Research & Consulting Services | 6,000 | 5,980 | 6,000 | (4) | |||||||||||||||||||||
Helios Software Holdings, Inc. | First Lien Term Loan, LIBOR+4.25% cash due 10/24/2025 | 4.52 | % | Systems Software | 3,960 | 3,920 | 3,946 | ||||||||||||||||||||||
Intelsat Jackson Holdings S.A. | First Lien Term Loan, PRIME+4.75% cash due 11/27/2023 | 8.00 | % | Alternative Carriers | 3,568 | 3,543 | 3,628 | ||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 7/13/2022 | 6.50 | % | Alternative Carriers | 1,943 | 1,762 | 1,988 | |||||||||||||||||||||||
Total Intelsat Jackson Holdings S.A. | 5,305 | 5,616 | |||||||||||||||||||||||||||
LogMeIn, Inc. | First Lien Term Loan, LIBOR+4.75% cash due 8/31/2027 | 4.90 | % | Application Software | 5,000 | 4,880 | 4,994 | ||||||||||||||||||||||
Maravai Intermediate Holdings, LLC | First Lien Term Loan, LIBOR+4.25% cash due 10/19/2027 | 5.25 | % | Biotechnology | 6,875 | 6,806 | 6,952 | ||||||||||||||||||||||
Mindbody, Inc. | First Lien Term Loan, LIBOR+7.00% cash 1.5% PIK due 2/14/2025 | 8.00 | % | Internet Services & Infrastructure | 4,564 | 4,502 | 4,181 | (4) | |||||||||||||||||||||
First Lien Revolver, LIBOR+8.00% cash due 2/14/2025 | Internet Services & Infrastructure | — | (7) | (40) | (4)(5) | ||||||||||||||||||||||||
Total Mindbody, Inc. | 4,495 | 4,141 | |||||||||||||||||||||||||||
MRI Software LLC | First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026 | 6.50 | % | Application Software | 3,863 | 3,829 | 3,854 | (4) | |||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 2/10/2026 | Application Software | — | (1) | — | (4)(5) | ||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.50% cash due 2/10/2026 | Application Software | — | (3) | (1) | (4)(5) | ||||||||||||||||||||||||
Total MRI Software LLC | 3,825 | 3,853 | |||||||||||||||||||||||||||
Navicure, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 10/22/2026 | 4.15 | % | Health Care Technology | 5,955 | 5,925 | 5,955 | ||||||||||||||||||||||
New IPT, Inc. | First Lien Term Loan, LIBOR+5.00% cash due 3/17/2021 | 6.00 | % | Oil & Gas Equipment & Services | 941 | 941 | 735 | (4) | |||||||||||||||||||||
21.876 Class A Common Units in New IPT Holdings, LLC | Oil & Gas Equipment & Services | — | — | (4) | |||||||||||||||||||||||||
Total New IPT, Inc. | 941 | 735 | |||||||||||||||||||||||||||
Northern Star Industries Inc. | First Lien Term Loan, LIBOR+4.75% cash due 3/31/2025 | 5.75 | % | Electrical Components & Equipment | 6,807 | 6,787 | 6,671 | ||||||||||||||||||||||
Northwest Fiber, LLC | First Lien Term Loan, LIBOR+5.50% cash due 4/30/2027 | 5.65 | % | Integrated Telecommunication Services | 2,394 | 2,311 | 2,406 | ||||||||||||||||||||||
Novetta Solutions, LLC | First Lien Term Loan, LIBOR+5.00% cash due 10/17/2022 | 6.00 | % | Application Software | 5,915 | 5,897 | 5,903 | ||||||||||||||||||||||
OEConnection LLC | First Lien Term Loan, LIBOR+4.00% cash due 9/25/2026 | 4.15 | % | Application Software | 7,879 | 7,843 | 7,820 | ||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+4.00% cash due 9/25/2026 | Application Software | — | — | — | (5) | ||||||||||||||||||||||||
Total OEConnection LLC | 7,843 | 7,820 | |||||||||||||||||||||||||||
Olaplex, Inc. | First Lien Term Loan, LIBOR+6.50% cash due 1/8/2026 | 7.50 | % | Personal Products | 6,395 | 6,298 | 6,395 | (4) | |||||||||||||||||||||
First Lien Revolver, LIBOR+6.50% cash due 1/8/2025 | Personal Products | — | (9) | — | (4)(5) | ||||||||||||||||||||||||
Total Olaplex, Inc. | 6,289 | 6,395 | |||||||||||||||||||||||||||
Park Place Technologies, LLC | First Lien Term Loan, LIBOR+5.00% cash due 11/10/2027 | 6.00 | % | Internet Services & Infrastructure | 5,000 | 4,804 | 4,817 | (4) | |||||||||||||||||||||
PetVet Care Centers, LLC | First Lien Term Loan, LIBOR+4.25% cash due 2/14/2025 | 5.25 | % | Specialized Consumer Services | 2,736 | 2,729 | 2,753 | ||||||||||||||||||||||
PG&E Corporation | First Lien Term Loan, LIBOR+4.50% cash due 6/23/2025 | 5.50 | % | Electric Utilities | 5,970 | 5,889 | 6,051 | ||||||||||||||||||||||
Planview Parent, Inc. | Second Lien Term Loan, LIBOR+7.25% cash due 12/18/2028 | 8.00 | % | Application Software | 4,503 | 4,435 | 4,503 | (4) | |||||||||||||||||||||
Recorded Books Inc. | First Lien Term Loan, LIBOR+4.25% cash due 8/29/2025 | 4.75 | % | Publishing | 6,000 | 5,940 | 6,025 | ||||||||||||||||||||||
RS Ivy Holdco, Inc. | First Lien Term Loan, LIBOR+5.50% cash due 12/23/2027 | 6.50 | % | Oil & Gas Exploration & Production | 7,000 | 6,895 | 6,965 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
Sabert Corporation | First Lien Term Loan, LIBOR+4.50% cash due 12/10/2026 | 5.50 | % | Metal & Glass Containers | $ | 2,742 | $ | 2,714 | $ | 2,743 | |||||||||||||||||||
Salient CRGT, Inc. | First Lien Term Loan, LIBOR+6.50% cash due 2/28/2022 | 7.50 | % | Aerospace & Defense | 2,080 | 2,070 | 2,002 | (4) | |||||||||||||||||||||
SHO Holding I Corporation | First Lien Term Loan, LIBOR+5.25% cash due 4/27/2024 | 6.25 | % | Footwear | 8,445 | 8,430 | 7,347 | ||||||||||||||||||||||
Signify Health, LLC | First Lien Term Loan, LIBOR+4.50% cash due 12/23/2024 | 5.50 | % | Health Care Services | 9,725 | 9,669 | 9,433 | ||||||||||||||||||||||
Sirva Worldwide, Inc. | First Lien Term Loan, LIBOR+5.50% cash due 8/4/2025 | 5.65 | % | Diversified Support Services | 4,750 | 4,679 | 4,352 | ||||||||||||||||||||||
Star US Bidco LLC | First Lien Term Loan, LIBOR+4.25% cash due 3/17/2027 | 5.25 | % | Industrial Machinery | 3,709 | 3,529 | 3,649 | ||||||||||||||||||||||
Sunshine Luxembourg VII SARL | First Lien Term Loan, LIBOR+4.00% cash due 10/1/2026 | 5.00 | % | Personal Products | 7,920 | 7,880 | 7,969 | ||||||||||||||||||||||
Supermoose Borrower, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025 | 4.00 | % | Application Software | 4,876 | 4,580 | 4,574 | (4) | |||||||||||||||||||||
Surgery Center Holdings, Inc. | First Lien Term Loan, LIBOR+3.25% cash due 9/3/2024 | 4.25 | % | Health Care Facilities | 4,949 | 4,931 | 4,876 | ||||||||||||||||||||||
Veritas US Inc. | First Lien Term Loan, LIBOR+5.50% cash due 9/1/2025 | 6.50 | % | Application Software | 6,484 | 6,362 | 6,475 | ||||||||||||||||||||||
Verscend Holding Corp. | First Lien Term Loan, LIBOR+4.50% cash due 8/27/2025 | 4.65 | % | Health Care Technology | 4,101 | 4,070 | 4,107 | (4) | |||||||||||||||||||||
Windstream Services II, LLC | First Lien Term Loan, LIBOR+6.25% cash due 9/21/2027 | 7.25 | % | Integrated Telecommunication Services | 7,960 | 7,654 | 7,808 | (4) | |||||||||||||||||||||
WP CPP Holdings, LLC | Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026 | 8.75 | % | Aerospace & Defense | 6,000 | 5,959 | 5,085 | (4) | |||||||||||||||||||||
$ | 313,978 | $ | 317,432 | $ | 313,261 |
Portfolio Company | Industry | Investment Type | Maturity Date | Current Interest Rate(1)(4) | Cash Interest Rate | Principal | Cost | Fair Value (2) | |||||||||||||||
AdVenture Interactive, Corp. (3) | Advertising | 927 Common Stock Shares | $ | 1,088 | $ | 1,412 | |||||||||||||||||
Allied Universal Holdco LLC (3) | Security & alarm services | First Lien | 7/28/2022 | LIBOR+3.75% (1% floor) | 5.08 | % | $ | 6,982 | 7,040 | 6,976 | |||||||||||||
Ameritox Ltd. (3)(5) | Healthcare services | First Lien | 4/11/2021 | LIBOR+5% (1% floor) 3% PIK | 6.33 | % | 5,759 | 5,638 | 668 | ||||||||||||||
301,913.06 Class B Preferred Units | 302 | — | |||||||||||||||||||||
928.96 Class A Common Units | 5,474 | — | |||||||||||||||||||||
Total Ameritox Ltd. | 5,759 | 11,414 | 668 | ||||||||||||||||||||
BeyondTrust Software, Inc. (3) | Application software | First Lien | 9/25/2019 | LIBOR+7% (1% floor) | 8.33 | % | 15,330 | 15,231 | 15,329 | ||||||||||||||
BJ's Wholesale Club, Inc. (3) | Hypermarkets & super centers | First Lien | 1/26/2024 | LIBOR+3.75% (1% floor) | 4.99 | % | 4,988 | 4,993 | 4,793 | ||||||||||||||
Compuware Corporation | Internet software & services | First Lien B3 | 12/15/2021 | LIBOR+4.25% (1% floor) | 5.49 | % | 11,154 | 11,041 | 11,293 | ||||||||||||||
DFT Intermediate LLC (3) | Specialized finance | First Lien | 3/1/2023 | LIBOR+5.5% (1% floor) | 6.74 | % | 10,723 | 10,474 | 10,652 | ||||||||||||||
Digital River, Inc. | Internet software & services | First Lien | 2/12/2021 | LIBOR+6.5% (1% floor) | 7.82 | % | 4,524 | 4,541 | 4,546 | ||||||||||||||
Dodge Data & Analytics LLC (3) | Data processing & outsourced services | First Lien | 10/31/2019 | LIBOR+8.75% (1% floor) | 10.13 | % | 9,339 | 9,372 | 8,744 | ||||||||||||||
DTZ U.S. Borrower, LLC (3) | Real estate services | First Lien | 11/4/2021 | LIBOR+3.25% (1% floor) | 4.57 | % | 6,964 | 6,998 | 6,990 | ||||||||||||||
Edge Fitness, LLC | Leisure facilities | First Lien | 12/31/2019 | LIBOR+7.75% (1% floor) | 9.05 | % | 10,600 | 10,602 | 10,600 | ||||||||||||||
EOS Fitness Opco Holdings, LLC (3) | Leisure facilities | First Lien | 12/30/2019 | LIBOR+8.75% (0.75% floor) | 9.99 | % | 18,374 | 18,182 | 18,557 | ||||||||||||||
Everi Payments Inc.(3) | Casinos & gaming | First Lien | 5/9/2024 | LIBOR+4.5% (1% floor) | 5.74 | % | 4,988 | 4,964 | 5,039 | ||||||||||||||
Falmouth Group Holdings Corp. | Specialty chemicals | First Lien | 12/13/2021 | LIBOR+6.75% (1% floor) | 8.08 | % | 4,610 | 4,578 | 4,610 | ||||||||||||||
Garretson Resolution Group, Inc. | Diversified support services | First Lien | 5/22/2021 | LIBOR+6.5% (1% floor) | 7.83 | % | 5,836 | 5,818 | 5,766 | ||||||||||||||
InMotion Entertainment Group, LLC (3) | Consumer electronics | First Lien | 10/1/2018 | LIBOR+7.75% (1.25% floor) | 9.09 | % | 8,875 | 8,884 | 8,875 | ||||||||||||||
First Lien B | 10/1/2018 | LIBOR+7.75% (1.25% floor) | 9.09 | % | 8,875 | 8,828 | 8,871 | ||||||||||||||||
Total InMotion Entertainment Group, LLC | 17,750 | 17,712 | 17,746 | ||||||||||||||||||||
Keypath Education, Inc. (3) | Advertising | First Lien | 4/3/2022 | LIBOR+7% (1.00% floor) | 8.33 | % | 2,040 | 2,040 | 2,039 | ||||||||||||||
927 shares Common Stock | 1,391 | 809 | |||||||||||||||||||||
2,040 | 3,431 | 2,848 | |||||||||||||||||||||
Lift Brands, Inc. (3) | Leisure facilities | First Lien | 12/23/2019 | LIBOR+7.5% (1% floor) | 8.83 | % | 18,276 | 18,257 | 18,275 | ||||||||||||||
Metamorph US 3, LLC (3)(5) | Internet software & services | First Lien | 12/1/2020 | LIBOR+5.5% (1% floor) 2% PIK | 6.74 | % | 9,969 | 9,481 | 3,786 | ||||||||||||||
Motion Recruitment Partners LLC | Human resources & employment services | First Lien | 2/13/2020 | LIBOR+6% (1% floor) | 7.24 | % | 4,330 | 4,281 | 4,330 | ||||||||||||||
NAVEX Global, Inc. | Internet software & services | First Lien | 11/19/2021 | LIBOR+4.75% (1% floor) | 5.49 | % | 5,959 | 5,925 | 5,982 | ||||||||||||||
New IPT, Inc. (3) | Oil & gas equipment & services | First Lien | 3/17/2021 | LIBOR+5% (1% floor) | 6.33 | % | 1,794 | 1,794 | 1,794 | ||||||||||||||
Second Lien | 9/17/2021 | LIBOR+5.1% (1% floor) | 6.43 | % | 1,094 | 1,094 | 1,094 | ||||||||||||||||
21.876 Class A Common Units | — | 321 | |||||||||||||||||||||
Total New IPT, Inc. | 2,888 | 2,888 | 3,209 |
Portfolio Company | Industry | Investment Type | Maturity Date | Current Interest Rate(1)(4) | Cash Interest Rate | Principal | Cost | Fair Value (2) | |||||||||||||||
Novetta Solutions, LLC | Internet software & services | First Lien | 9/30/2022 | LIBOR+5% (1% floor) | 6.34 | % | $ | 6,118 | $ | 6,066 | $ | 5,950 | |||||||||||
OmniSYS Acquisition Corporation (3) | Diversified support services | First Lien | 11/21/2018 | LIBOR+7.5% (1% floor) | 8.83 | % | 10,896 | 10,900 | 10,833 | ||||||||||||||
Refac Optical Group (3) | Specialty stores | First Lien A | 9/30/2018 | LIBOR+8% | 9.23 | % | 4,623 | 4,605 | 4,623 | ||||||||||||||
Salient CRGT, Inc. (3) | IT consulting & other services | First Lien | 2/28/2022 | LIBOR+5.75% (1% floor) | 6.99 | % | 2,457 | 2,412 | 2,440 | ||||||||||||||
Scientific Games International, Inc. (3) | Casinos & gaming | First Lien | 8/14/2024 | LIBOR+3.25% (1% floor) | 4.58 | % | 6,632 | 6,598 | 6,651 | ||||||||||||||
SHO Holding I Corporation | Footwear | First Lien | 10/27/2022 | LIBOR+5% (1% floor) | 6.24 | % | 8,594 | 8,566 | 8,487 | ||||||||||||||
TravelClick, Inc. (3) | Internet software & services | Second Lien | 11/6/2021 | LIBOR+7.75% (1% floor) | 8.99 | % | 5,127 | 5,127 | 5,153 | ||||||||||||||
TV Borrower US, LLC | Integrated telecommunications services | First Lien | 2/22/2024 | LIBOR+4.75% (1% floor) | 6.08 | % | 3,582 | 3,565 | 3,607 | ||||||||||||||
Valet Merger Sub, Inc. (3) | Environmental & facilities services | First Lien | 9/24/2021 | LIBOR+7% (1% floor) | 8.24 | % | 12,998 | 12,862 | 12,998 | ||||||||||||||
Vubiquity, Inc. | Application software | First Lien | 8/12/2021 | LIBOR+5.5% (1% floor) | 6.83 | % | 2,653 | 2,636 | 2,633 | ||||||||||||||
$ | 245,063 | $ | 251,648 | $ | 235,526 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
Access CIG, LLC | First Lien Term Loan, LIBOR+3.75% cash due 2/27/2025 | 3.91 | % | Diversified Support Services | $ | 9,206 | $ | 9,170 | $ | 9,029 | |||||||||||||||||||
AdVenture Interactive, Corp. | 927 shares of common stock | Advertising | 1,390 | 1,373 | (4) | ||||||||||||||||||||||||
AI Ladder (Luxembourg) Subco S.a.r.l. | First Lien Term Loan, LIBOR+4.50% cash due 7/9/2025 | 4.65 | % | Electrical Components & Equipment | 6,038 | 5,914 | 5,781 | (4) | |||||||||||||||||||||
Airbnb, Inc. | First Lien Term Loan, LIBOR+7.50% cash due 4/17/2025 | 8.50 | % | Hotels, Resorts & Cruise Lines | 3,051 | 2,981 | 3,311 | (4) | |||||||||||||||||||||
Altice France S.A. | First Lien Term Loan, LIBOR+4.00% cash due 8/14/2026 | 4.15 | % | Integrated Telecommunication Services | 4,643 | 4,450 | 4,527 | ||||||||||||||||||||||
Alvogen Pharma US, Inc. | First Lien Term Loan, LIBOR+5.25% cash due 12/31/2023 | 6.25 | % | Pharmaceuticals | 9,879 | 9,623 | 9,566 | ||||||||||||||||||||||
Amplify Finco Pty Ltd. | First Lien Term Loan, LIBOR+4.00% cash due 11/26/2026 | 4.75 | % | Movies & Entertainment | 7,960 | 7,880 | 6,846 | (4) | |||||||||||||||||||||
Anastasia Parent, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/11/2025 | Personal Products | 2,828 | 2,282 | 1,248 | (6) | |||||||||||||||||||||||
Apptio, Inc. | First Lien Term Loan, LIBOR+7.25% cash due 1/10/2025 | 8.25 | % | Application Software | 4,615 | 4,550 | 4,526 | (4) | |||||||||||||||||||||
First Lien Revolver, LIBOR+7.25% cash due 1/10/2025 | Application Software | — | (5) | (8) | (4)(5) | ||||||||||||||||||||||||
Total Apptio, Inc. | 4,545 | 4,518 | |||||||||||||||||||||||||||
Aurora Lux Finco S.À.R.L. | First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026 | 7.00 | % | Airport Services | 6,468 | 6,324 | 6,015 | (4) | |||||||||||||||||||||
Blackhawk Network Holdings, Inc. | First Lien Term Loan, LIBOR+3.00% cash due 6/15/2025 | 3.15 | % | Data Processing & Outsourced Services | 9,775 | 9,758 | 9,251 | ||||||||||||||||||||||
Boxer Parent Company Inc. | First Lien Term Loan, LIBOR+4.25% cash due 10/2/2025 | 4.40 | % | Systems Software | 7,532 | 7,448 | 7,331 | (4) | |||||||||||||||||||||
Brazos Delaware II, LLC | First Lien Term Loan, LIBOR+4.00% cash due 5/21/2025 | 4.16 | % | Oil & Gas Equipment & Services | 7,331 | 7,306 | 5,600 | ||||||||||||||||||||||
C5 Technology Holdings, LLC | 171 Common Units | Data Processing & Outsourced Services | — | — | (4) | ||||||||||||||||||||||||
7,193,539.63 Preferred Units | Data Processing & Outsourced Services | 7,194 | 5,683 | (4) | |||||||||||||||||||||||||
Total C5 Technology Holdings, LLC | 7,194 | 5,683 | |||||||||||||||||||||||||||
Carrols Restaurant Group, Inc. | First Lien Term Loan, LIBOR+6.25% cash due 4/30/2026 | 7.25 | % | Restaurants | 3,990 | 3,792 | 3,960 | ||||||||||||||||||||||
CITGO Petroleum Corp. | First Lien Term Loan, LIBOR+5.00% cash due 3/28/2024 | 6.00 | % | Oil & Gas Refining & Marketing | 7,184 | 7,112 | 6,842 | (4) | |||||||||||||||||||||
Clear Channel Outdoor Holdings, Inc. | First Lien Term Loan, LIBOR+3.50% cash due 8/21/2026 | 3.76 | % | Advertising | 331 | 290 | 302 | ||||||||||||||||||||||
Connect U.S. Finco LLC | First Lien Term Loan, LIBOR+4.50% cash due 12/11/2026 | 5.50 | % | Alternative Carriers | 7,437 | 7,262 | 7,228 | ||||||||||||||||||||||
Curium Bidco S.à.r.l. | First Lien Term Loan, LIBOR+3.75% cash due 7/9/2026 | 3.97 | % | Biotechnology | 5,940 | 5,895 | 5,895 | ||||||||||||||||||||||
Dcert Buyer, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 10/16/2026 | 4.15 | % | Internet Services & Infrastructure | 7,960 | 7,940 | 7,879 | ||||||||||||||||||||||
Dealer Tire, LLC | First Lien Term Loan, LIBOR+4.25% cash due 12/12/2025 | 4.40 | % | Distributors | 943 | 902 | 924 | ||||||||||||||||||||||
eResearch Technology, Inc. | First Lien Term Loan, LIBOR+4.50% cash due 2/4/2027 | 5.50 | % | Application Software | 7,481 | 7,406 | 7,461 | ||||||||||||||||||||||
Frontier Communications Corporation | First Lien Term Loan, PRIME+2.75% cash due 6/15/2024 | 6.00 | % | Integrated Telecommunication Services | 3,939 | 3,901 | 3,887 | ||||||||||||||||||||||
Gigamon, Inc. | First Lien Term Loan, LIBOR+4.25% cash due 12/27/2024 | 5.25 | % | Systems Software | 7,781 | 7,734 | 7,684 | ||||||||||||||||||||||
Global Medical Response, Inc. | First Lien Term Loan, LIBOR+4.75% cash due 10/2/2025 | 5.75 | % | Health Care Services | 2,231 | 2,187 | 2,185 | ||||||||||||||||||||||
Guidehouse LLP | Second Lien Term Loan, LIBOR+8.00% cash due 5/1/2026 | 8.15 | % | Research & Consulting Services | 6,000 | 5,979 | 5,790 | (4) |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
Helios Software Holdings, Inc. | First Lien Term Loan, LIBOR+4.25% cash due 10/24/2025 | 4.52 | % | Systems Software | $ | 3,970 | $ | 3,930 | $ | 3,923 | |||||||||||||||||||
Intelsat Jackson Holdings S.A. | First Lien Term Loan, PRIME+4.75% cash due 11/27/2023 | 8.00 | % | Alternative Carriers | 3,568 | 3,541 | 3,598 | ||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 7/13/2022 | 6.50 | % | Alternative Carriers | 971 | 801 | 1,011 | (5) | ||||||||||||||||||||||
Total Intelsat Jackson Holdings S.A. | 4,342 | 4,609 | |||||||||||||||||||||||||||
KIK Custom Products Inc. | First Lien Term Loan, LIBOR+4.00% cash due 5/15/2023 | 5.00 | % | Household Products | 5,322 | 5,308 | 5,302 | ||||||||||||||||||||||
LogMeIn, Inc. | First Lien Term Loan, LIBOR+4.75% cash due 8/31/2027 | 4.91 | % | Application Software | 5,000 | 4,876 | 4,842 | ||||||||||||||||||||||
Mindbody, Inc. | First Lien Term Loan, LIBOR+7.00% cash 1.5% PIK due 2/14/2025 | 8.00 | % | Internet Services & Infrastructure | 4,546 | 4,481 | 4,192 | (4) | |||||||||||||||||||||
First Lien Revolver, LIBOR+8.00% cash due 2/14/2025 | Internet Services & Infrastructure | — | (7) | (38) | (4)(5) | ||||||||||||||||||||||||
Total Mindbody, Inc. | 4,474 | 4,154 | |||||||||||||||||||||||||||
MRI Software LLC | First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026 | 6.50 | % | Application Software | 3,830 | 3,795 | 3,737 | (4) | |||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 2/10/2026 | Application Software | — | (1) | (4) | (4)(5) | ||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.50% cash due 2/10/2026 | Application Software | — | (3) | (8) | (4)(5) | ||||||||||||||||||||||||
Total MRI Software LLC | 3,791 | 3,725 | |||||||||||||||||||||||||||
Navicure, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 10/22/2026 | 4.15 | % | Health Care Technology | 5,970 | 5,940 | 5,849 | ||||||||||||||||||||||
New IPT, Inc. | First Lien Term Loan, LIBOR+5.00% cash due 3/17/2021 | 6.00 | % | Oil & Gas Equipment & Services | 1,006 | 1,006 | 786 | (4) | |||||||||||||||||||||
21.876 Class A Common Units in New IPT Holdings, LLC | Oil & Gas Equipment & Services | — | — | (4) | |||||||||||||||||||||||||
Total New IPT, Inc. | 1,006 | 786 | |||||||||||||||||||||||||||
Northern Star Industries Inc. | First Lien Term Loan, LIBOR+4.75% cash due 3/31/2025 | 5.75 | % | Electrical Components & Equipment | 6,825 | 6,803 | 6,518 | ||||||||||||||||||||||
Northwest Fiber, LLC | First Lien Term Loan, LIBOR+5.50% cash due 4/30/2027 | 5.66 | % | Integrated Telecommunication Services | 2,400 | 2,314 | 2,403 | ||||||||||||||||||||||
Novetta Solutions, LLC | First Lien Term Loan, LIBOR+5.00% cash due 10/17/2022 | 6.00 | % | Application Software | 5,931 | 5,909 | 5,827 | ||||||||||||||||||||||
OEConnection LLC | First Lien Term Loan, LIBOR+4.00% cash due 9/25/2026 | 4.15 | % | Application Software | 7,455 | 7,418 | 7,371 | ||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+4.00% cash due 9/25/2026 | Application Software | — | (2) | (5) | (5) | ||||||||||||||||||||||||
Total OEConnection LLC | 7,416 | 7,366 | |||||||||||||||||||||||||||
Olaplex, Inc. | First Lien Term Loan, LIBOR+6.50% cash due 1/8/2026 | 7.50 | % | Personal Products | 4,938 | 4,851 | 4,938 | (4) | |||||||||||||||||||||
First Lien Revolver, LIBOR+6.50% cash due 1/8/2025 | 7.50 | % | Personal Products | 270 | 261 | 270 | (4)(5) | ||||||||||||||||||||||
Total Olaplex, Inc. | 5,112 | 5,208 | |||||||||||||||||||||||||||
PetVet Care Centers, LLC | First Lien Term Loan, LIBOR+4.25% cash due 2/14/2025 | 5.25 | % | Specialized Consumer Services | 2,743 | 2,736 | 2,747 | ||||||||||||||||||||||
PG&E Corporation | First Lien Term Loan, LIBOR+4.50% cash due 6/23/2025 | 5.50 | % | Electric Utilities | 5,985 | 5,899 | 5,875 | ||||||||||||||||||||||
Recorded Books, Inc. | First Lien Term Loan, LIBOR+4.25% cash due 8/31/2025 | 4.75 | % | Publishing | 6,000 | 5,940 | 5,940 | ||||||||||||||||||||||
Sabert Corporation | First Lien Term Loan, LIBOR+4.50% cash due 12/10/2026 | 5.50 | % | Metal & Glass Containers | 2,828 | 2,800 | 2,791 | ||||||||||||||||||||||
Salient CRGT, Inc. | First Lien Term Loan, LIBOR+6.50% cash due 2/28/2022 | 7.50 | % | Aerospace & Defense | 2,111 | 2,099 | 1,963 | (4) | |||||||||||||||||||||
SHO Holding I Corporation | First Lien Term Loan, LIBOR+3.00% cash PIK 2.25% due 4/27/2024 | 4.00 | % | Footwear | 8,396 | 8,380 | 5,898 | ||||||||||||||||||||||
Signify Health, LLC | First Lien Term Loan, LIBOR+4.50% cash due 12/23/2024 | 5.50 | % | Health Care Services | 9,750 | 9,690 | 9,409 | ||||||||||||||||||||||
Sirva Worldwide, Inc. | First Lien Term Loan, LIBOR+5.50% cash due 8/4/2025 | 5.65 | % | Diversified Support Services | 4,781 | 4,709 | 3,992 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
Star US Bidco LLC | First Lien Term Loan, LIBOR+4.25% cash due 3/17/2027 | 5.25 | % | Industrial Machinery | $ | 3,718 | $ | 3,532 | $ | 3,551 | |||||||||||||||||||
Sunshine Luxembourg VII SARL | First Lien Term Loan, LIBOR+4.25% cash due 10/1/2026 | 5.25 | % | Personal Products | 7,940 | 7,900 | 7,911 | ||||||||||||||||||||||
Supermoose Borrower, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025 | 3.90 | % | Application Software | 4,888 | 4,575 | 4,407 | (4) | |||||||||||||||||||||
Surgery Center Holdings, Inc. | First Lien Term Loan, LIBOR+3.25% cash due 9/3/2024 | 4.25 | % | Health Care Facilities | 4,962 | 4,943 | 4,691 | (4) | |||||||||||||||||||||
Uber Technologies, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 4/4/2025 | 5.00 | % | Application Software | 2,997 | 2,959 | 2,980 | ||||||||||||||||||||||
UFC Holdings, LLC | First Lien Term Loan, LIBOR+3.25% cash due 4/29/2026 | 4.25 | % | Movies & Entertainment | 2,856 | 2,816 | 2,814 | ||||||||||||||||||||||
Veritas US Inc. | First Lien Term Loan, LIBOR+5.50% cash due 9/1/2025 | 6.50 | % | Application Software | 6,500 | 6,371 | 6,375 | ||||||||||||||||||||||
Verscend Holding Corp. | First Lien Term Loan, LIBOR+4.50% cash due 8/27/2025 | 4.65 | % | Health Care Technology | 4,112 | 4,080 | 4,084 | (4) | |||||||||||||||||||||
VM Consolidated, Inc. | First Lien Term Loan, LIBOR+3.25% cash due 2/28/2025 | 3.40 | % | Data Processing & Outsourced Services | 10,487 | 10,495 | 10,291 | ||||||||||||||||||||||
Windstream Services II, LLC | First Lien Term Loan, LIBOR+6.25% cash due 9/21/2027 | 7.25 | % | Integrated Telecommunication Services | 7,980 | 7,662 | 7,744 | (4) | |||||||||||||||||||||
WP CPP Holdings, LLC | Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026 | 8.75 | % | Aerospace & Defense | 6,000 | 5,956 | 4,680 | (4) | |||||||||||||||||||||
$ | 307,579 | $ | 311,428 | $ | 298,771 |
December 31, 2020 | September 30, 2020 | |||||||||||||
Selected Balance Sheet Information: | ||||||||||||||
Investments at fair value (cost December 31, 2020: $317,432; cost September 30, 2020: $311,428) | $ | 313,261 | $ | 298,771 | ||||||||||
Cash and cash equivalents | 20,575 | 5,389 | ||||||||||||
Restricted cash | 4,262 | 4,211 | ||||||||||||
Other assets | 3,147 | 5,093 | ||||||||||||
Total assets | $ | 341,245 | $ | 313,464 | ||||||||||
Senior credit facility payable | $ | 175,410 | $ | 167,910 | ||||||||||
Debt securities payable at fair value (proceeds December 31, 2020: $110,000; proceeds September 30, 2020: $110,000) | 110,000 | 110,000 | ||||||||||||
Other liabilities | 22,390 | 11,336 | ||||||||||||
Total liabilities | $ | 307,800 | $ | 289,246 | ||||||||||
Members' equity | 33,445 | 24,218 | ||||||||||||
Total liabilities and members' equity | $ | 341,245 | $ | 313,464 |
Three months ended December 31, 2020 | Three months ended December 31, 2019 | |||||||||||||
Selected Statements of Operations Information: | ||||||||||||||
Interest income | $ | 4,475 | $ | 5,393 | ||||||||||
Other income | 54 | 6 | ||||||||||||
Total investment income | 4,529 | 5,399 | ||||||||||||
Interest expense | 3,581 | 4,641 | ||||||||||||
Other expenses | 62 | 67 | ||||||||||||
Total expenses (1) | 3,643 | 4,708 | ||||||||||||
Net unrealized appreciation (depreciation) | 8,486 | 2,941 | ||||||||||||
Net realized gains (losses) | (144) | (1,152) | ||||||||||||
Net income (loss) | $ | 9,228 | $ | 2,480 |
(Share amounts in thousands) | Three months ended December 31, 2020 | Three months ended December 31, 2019 | ||||||||||||
Earnings (loss) per common share — basic and diluted: | ||||||||||||||
Net increase (decrease) in net assets resulting from operations | $ | 65,544 | $ | 13,843 | ||||||||||
Weighted average common shares outstanding — basic and diluted | 140,961 | 140,961 | ||||||||||||
Earnings (loss) per common share — basic and diluted | $ | 0.46 | $ | 0.10 |
December 31, 2017 | September 30, 2017 | |||||||
Selected Balance Sheet Information: | ||||||||
Investments in loans at fair value (cost December 31, 2017: $255,973; cost September 30, 2017: $251,648) | $ | 239,601 | $ | 235,526 | ||||
Receivables from secured financing arrangements at fair value (cost December 31, 2017: $9,787; cost September 30, 2017: $9,783) | 8,334 | 8,305 | ||||||
Cash and cash equivalents | 28,386 | 24,389 | ||||||
Restricted cash | 4,100 | 5,097 | ||||||
Other assets | 4,117 | 3,485 | ||||||
Total assets | $ | 284,538 | $ | 276,802 | ||||
Senior credit facilities payable | $ | 105,053 | $ | 113,053 | ||||
Debt securities payable at fair value (proceeds December 31, 2017: $146,572; proceeds September 30, 2017: $147,052) | 146,572 | 147,052 | ||||||
Other liabilities | 27,407 | 10,383 | ||||||
Total liabilities | $ | 279,032 | $ | 270,488 | ||||
Members' equity | 5,506 | 6,314 | ||||||
Total liabilities and members' equity | $ | 284,538 | $ | 276,802 |
Three months ended December 31, 2017 | Three months ended December 31, 2016 | |||||||
Selected Statements of Operations Information: | ||||||||
Interest income | $ | 4,728 | $ | 6,759 | ||||
Other income | — | 308 | ||||||
Total investment income | 4,728 | 7,067 | ||||||
Interest expense | 5,145 | 6,014 | ||||||
Other expenses | 161 | 408 | ||||||
Total expenses (1) | 5,306 | 6,422 | ||||||
Net unrealized depreciation | (226 | ) | (22,473 | ) | ||||
Net realized gain (loss) | (4 | ) | 22,708 | |||||
Net income (loss) | $ | (808 | ) | $ | 880 |
Common Stock | ||||||||||||||||||||||||||||||||
Shares | Par Value | Additional paid-in-capital | Accumulated Overdistributed Earnings | Total Net Assets | ||||||||||||||||||||||||||||
Balance as of September 30, 2020 | 140,961 | $ | 1,409 | $ | 1,487,774 | $ | (574,304) | $ | 914,879 | |||||||||||||||||||||||
Net investment income | — | — | — | 10,018 | 10,018 | |||||||||||||||||||||||||||
Net unrealized appreciation (depreciation) | — | — | — | 47,556 | 47,556 | |||||||||||||||||||||||||||
Net realized gains (losses) | — | — | — | 8,215 | 8,215 | |||||||||||||||||||||||||||
Provision for income tax (expense) benefit | — | — | — | (245) | (245) | |||||||||||||||||||||||||||
Distributions to stockholders | — | — | — | (15,506) | (15,506) | |||||||||||||||||||||||||||
Issuance of common stock under dividend reinvestment plan | 94 | 1 | 527 | — | 528 | |||||||||||||||||||||||||||
Repurchases of common stock under dividend reinvestment plan | (94) | (1) | (527) | — | (528) | |||||||||||||||||||||||||||
Balance as of December 31, 2020 | 140,961 | $ | 1,409 | $ | 1,487,774 | $ | (524,266) | $ | 964,917 |
Common Stock | ||||||||||||||||||||||||||||||||
Shares | Par Value | Additional paid-in-capital | Accumulated Overdistributed Earnings | Total Net Assets | ||||||||||||||||||||||||||||
Balance as of September 30, 2019 | 140,961 | $ | 1,409 | $ | 1,487,774 | $ | (558,553) | $ | 930,630 | |||||||||||||||||||||||
Net investment income | — | — | — | 7,836 | 7,836 | |||||||||||||||||||||||||||
Net unrealized appreciation (depreciation) | — | — | — | 2,879 | 2,879 | |||||||||||||||||||||||||||
Net realized gains (losses) | — | — | — | 3,288 | 3,288 | |||||||||||||||||||||||||||
Provision for income tax (expense) benefit | — | — | — | (160) | (160) | |||||||||||||||||||||||||||
Distributions to stockholders | — | — | — | (13,391) | (13,391) | |||||||||||||||||||||||||||
Issuance of common stock under dividend reinvestment plan | 88 | 1 | 480 | — | 481 | |||||||||||||||||||||||||||
Repurchases of common stock under dividend reinvestment plan | (88) | (1) | (480) | — | (481) | |||||||||||||||||||||||||||
Balance as of December 31, 2019 | 140,961 | $ | 1,409 | $ | 1,487,774 | $ | (558,101) | $ | 931,082 |
(Share amounts in thousands) | Three months ended December 31, 2017 | Three months ended December 31, 2016 | ||||||
Earnings (loss) per common share — basic: | ||||||||
Net decrease in net assets resulting from operations | $ | (30,441 | ) | $ | (74,242 | ) | ||
Weighted average common shares outstanding — basic | 140,961 | 142,853 | ||||||
Loss per common share — basic | $ | (0.22 | ) | $ | (0.52 | ) | ||
Earnings (loss) per common share — diluted: | ||||||||
Net decrease in net assets resulting from operations | $ | (30,441 | ) | $ | (74,242 | ) | ||
Weighted average common shares outstanding — diluted | 140,961 | 142,853 | ||||||
Loss per common share — diluted | $ | (0.22 | ) | $ | (0.52 | ) |
Date Declared | Record Date | Payment Date | Amount per Share | Cash Distribution | DRIP Shares Issued | DRIP Shares Value | |||||||||||
August 7, 2017 | December 15, 2017 | December 29, 2017 | $ | 0.125 | $ 17.3 million | 58,456 | (1) | $ 0.3 million | |||||||||
Total for the three months ended December 31, 2017 | $ | 0.125 | $ 17.3million | 58,456 | $ 0.3 million | ||||||||||||
Date Declared | Record Date | Payment Date | Amount per Share | Cash Distribution (2) | DRIP Shares Issued | DRIP Shares Value (2) | |||||||||||
August 3, 2016 | October 14, 2016 | October 31, 2016 | $ | 0.06 | $ 8.2 million | 81,391 | (1) | $ 0.4 million | |||||||||
August 3, 2016 | November 15, 2016 | November 30, 2016 | 0.06 | 8.2 million | 80,962 | (1) | 0.4 million | ||||||||||
October 18, 2016 | December 15, 2016 | December 30, 2016 | 0.06 | 7.7 million | 70,316 | (1) | 0.4 million | ||||||||||
Total for the three months ended December 31, 2016 | $ | 0.18 | $ 24.0 million | 232,669 | $ 1.3 million |
Date Declared | Record Date | Payment Date | Amount per Share | Cash Distribution | DRIP Shares Issued (1) | DRIP Shares Value | ||||||||||||||||||||||||||||||||
November 13, 2020 | December 15, 2020 | December 31, 2020 | $ | 0.11 | $ 15.0 million | 93,964 | $ 0.5 million | |||||||||||||||||||||||||||||||
Total for the three months ended December 31, 2020 | $ | 0.11 | $ 15.0 million | 93,964 | $ 0.5 million | |||||||||||||||||||||||||||||||||
Date Declared | Record Date | Payment Date | Amount per Share | Cash Distribution | DRIP Shares Issued (1) | DRIP Shares Value | ||||||||||||||||||||||||||||||||
November 12, 2019 | December 13, 2019 | December 31, 2019 | $ | 0.095 | $ 12.9 million | 87,747 | $ 0.5 million | |||||||||||||||||||||||||||||||
Total for the three months ended December 31, 2019 | $ | 0.095 | $ 12.9 million | 87,747 | $ 0.5 million |
Three months ended December 31, 2017 | Three months ended December 31, 2016 | |||||||
PIK balance at beginning of period | $ | 69,417 | $ | 62,631 | ||||
Gross PIK interest accrued | 8,046 | 5,046 | ||||||
PIK income reserves (1) | (6,179 | ) | (2,209 | ) | ||||
PIK interest received in cash | (1,103 | ) | (3,434 | ) | ||||
PIK balance at end of period | $ | 70,181 | $ | 62,034 |
December 31, 2017 | September 30, 2017 | |||||||||||||||||||||||||||
Cost | % of Debt Portfolio | Fair Value | % of Debt Portfolio | Cost | % of Debt Portfolio | Fair Value | % of Debt Portfolio | |||||||||||||||||||||
Accrual | $ | 1,258,056 | 85.49 | % | $ | 1,258,658 | 96.81 | % | $ | 1,344,535 | 86.46 | % | $ | 1,357,794 | 95.29 | % | ||||||||||||
PIK non-accrual (1) | 12,661 | 0.86 | — | — | 10,227 | 0.66 | 379 | 0.03 | ||||||||||||||||||||
Cash non-accrual (2) | 200,859 | 13.65 | 41,457 | 3.19 | 200,210 | 12.88 | 66,636 | 4.68 | ||||||||||||||||||||
Total | $ | 1,471,576 | 100.00 | % | $ | 1,300,115 | 100.00 | % | $ | 1,554,972 | 100.00 | % | $ | 1,424,809 | 100.00 | % |
December 31, 2020 | September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||
Cost | % of Debt Portfolio | Fair Value | % of Debt Portfolio | Cost | % of Debt Portfolio | Fair Value | % of Debt Portfolio | |||||||||||||||||||||||||||||||||||||||||||
Accrual | $ | 1,609,920 | 99.96 | % | $ | 1,616,023 | 99.97 | % | $ | 1,500,364 | 98.79 | % | $ | 1,483,284 | 99.89 | % | ||||||||||||||||||||||||||||||||||
PIK non-accrual (1) | — | — | — | — | 12,661 | 0.83 | — | — | ||||||||||||||||||||||||||||||||||||||||||
Cash non-accrual (2) | 588 | 0.04 | 470 | 0.03 | 5,712 | 0.38 | 1,571 | 0.11 | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,610,508 | 100.00 | % | $ | 1,616,493 | 100.00 | % | $ | 1,518,737 | 100.00 | % | $ | 1,484,855 | 100.00 | % |
Three months ended December 31, 2020 | Three months ended December 31, 2019 | |||||||||||||
Net increase (decrease) in net assets resulting from operations | $ | 65,544 | $ | 13,843 | ||||||||||
Net unrealized (appreciation) depreciation | (47,556) | (2,879) | ||||||||||||
Book/tax difference due to organizational costs | (22) | (22) | ||||||||||||
Book/tax difference due to interest income on certain loans | 130 | — | ||||||||||||
Book/tax difference due to capital losses utilized | (9,943) | (3,977) | ||||||||||||
Other book/tax differences | 5,614 | 5,144 | ||||||||||||
Taxable/Distributable Income (1) | $ | 13,767 | $ | 12,109 |
Three months ended December 31, 2017 | Three months ended December 31, 2016 | |||||||
Net decrease in net assets resulting from operations | $ | (30,441 | ) | $ | (74,242 | ) | ||
Net unrealized depreciation on investments and secured borrowings | 43,472 | 74,440 | ||||||
Book/tax difference due to loan fees | 264 | 16 | ||||||
Book/tax difference due to exit fees | — | 1,081 | ||||||
Book/tax difference due to organizational and deferred offering costs | (22 | ) | (22 | ) | ||||
Book/tax difference due to interest income on certain loans | — | (168 | ) | |||||
Book/tax difference due to capital losses not recognized | 591 | 24,206 | ||||||
Other book/tax differences | (1,206 | ) | (1,871 | ) | ||||
Taxable/Distributable Income(1) | $ | 12,658 | $ | 23,440 |
Undistributed ordinary income, net | $ | 24,409 | |
Net realized capital losses | 465,077 | ||
Unrealized losses, net | 97,839 |
Undistributed ordinary income, net | $ | 9,392 | |||
Net realized capital losses | 515,255 | ||||
Unrealized losses, net | 68,439 |
($ in millions) | |||||
Portfolio Company | Net Realized Gain (Loss) | ||||
PLATO Learning Inc. | $ | 7.8 | |||
L Squared Capital | 1.4 | ||||
BX Commercial Mortgage Trust 2020-VIVA | 1.2 | ||||
ExamSoft Worldwide Inc. | 0.9 | ||||
California Pizza Kitchen Inc. | (2.1) | ||||
99 Cents Only Stores | (0.9) | ||||
Other, net | (0.1) | ||||
Total, net | $ | 8.2 |
($ in millions) | |||||
Portfolio Company | Net Realized Gain (Loss) | ||||
YETI Holdings, Inc. | $ | 3.4 | |||
Other, net | (0.1) | ||||
Total, net | $ | 3.3 |
($ in millions) | |||
Portfolio Company | Net Realized Gain (Loss) | ||
First Star Aviation, LLC | $ | (3.8 | ) |
Ansira Partners, Inc. | 0.4 | ||
Senior Loan Fund JV I, LLC | (19.9 | ) | |
Other, net | 0.2 | ||
Total, net | $ | (23.1 | ) |
($ in millions) | |||||
Accrued fee waivers as of September 30, 2019 (1) | $ | 9.1 | |||
Reversal of previously accrued fee waivers (2) | (5.2) | ||||
Contractual fees waived under the Investment Advisory Agreement (3) | (3.9) | ||||
Accrued fee waivers as of December 31, 2019 | $ | — |
($ in millions) | September 30, 2019 (1) | ||||
Capital gains incentive fee payable under the Investment Advisory Agreement (prior to waivers) | $ | 4.6 | |||
Contractual fees waived | (3.9) | ||||
Capital gains incentive fee payable under the Investment Advisory Agreement (net of waivers) | $ | 0.8 |
Three months ended December 31, 2017 | Three months ended December 31, 2016 | |||
Net asset value at beginning of period | $6.16 | $7.97 | ||
Net investment income (4) | 0.09 | 0.16 | ||
Net unrealized depreciation on investments and secured borrowings (4) | (0.31) | (0.52) | ||
Net realized loss on investments and secured borrowings (4) | — | (0.16) | ||
Distributions to stockholders (4) | (0.13) | (0.18) | ||
Net issuance/repurchases of common stock (4) | — | 0.04 | ||
Net asset value at end of period | $5.81 | $7.31 | ||
Per share market value at beginning of period | $5.47 | $5.81 | ||
Per share market value at end of period | $4.89 | $5.37 | ||
Total return (1) | (8.37)% | (4.44)% | ||
Common shares outstanding at beginning of period | 140,960,651 | 143,258,785 | ||
Common shares outstanding at end of period | 140,960,651 | 140,960,651 | ||
Net assets at beginning of period | $867,657 | $1,142,288 | ||
Net assets at end of period | $819,595 | $1,030,272 | ||
Average net assets (2) | $849,181 | $1,090,244 | ||
Ratio of net investment income to average net assets (5) | 6.22% | 8.48% | ||
Ratio of total expenses to average net assets (excluding fee waiver and insurance recovery) (5) | 9.67% | 10.60% | ||
Effect of fee waivers (5) | (0.06)% | (0.02)% | ||
Effect of insurance recoveries (5) | —% | (0.22)% | ||
Ratio of net expenses to average net assets (5) | 9.61% | 10.36% | ||
Ratio of portfolio turnover to average investments at fair value | 12.76% | 8.75% | ||
Weighted average outstanding debt (3) | $651,826 | $1,168,790 | ||
Average debt per share (4) | $4.62 | $8.18 | ||
Asset coverage ratio | 230.61% | 217.39% |
(Share amounts in thousands) | Three months ended December 31, 2020 | Three months ended December 31, 2019 | ||||||||||||
Net asset value per share at beginning of period | $6.49 | $6.60 | ||||||||||||
Net investment income (1) | 0.07 | 0.06 | ||||||||||||
Net unrealized appreciation (depreciation) (1) | 0.34 | 0.03 | ||||||||||||
Net realized gains (losses) (1) | 0.06 | 0.02 | ||||||||||||
Distributions of net investment income to stockholders | (0.11) | (0.10) | ||||||||||||
Net asset value per share at end of period | $6.85 | $6.61 | ||||||||||||
Per share market value at beginning of period | $4.84 | $5.18 | ||||||||||||
Per share market value at end of period | $5.57 | $5.46 | ||||||||||||
Total return (2) | 17.34% | 7.23% | ||||||||||||
Common shares outstanding at beginning of period | 140,961 | 140,961 | ||||||||||||
Common shares outstanding at end of period | 140,961 | 140,961 | ||||||||||||
Net assets at beginning of period | $914,879 | $930,630 | ||||||||||||
Net assets at end of period | $964,917 | $931,082 | ||||||||||||
Average net assets (3) | $944,955 | $934,932 | ||||||||||||
Ratio of net investment income to average net assets (4) | 4.21% | 3.33% | ||||||||||||
Ratio of total expenses to average net assets (4) | 11.83% | 7.61% | ||||||||||||
Ratio of net expenses to average net assets (4) | 11.83% | 9.81% | ||||||||||||
Ratio of portfolio turnover to average investments at fair value | 10.34% | 6.68% | ||||||||||||
Weighted average outstanding debt (5) | $703,403 | $489,564 | ||||||||||||
Average debt per share (1) | $4.99 | $3.47 | ||||||||||||
Asset coverage ratio at end of period (6) | 236.67% | 271.92% |
(1) | Calculated based upon weighted average shares outstanding for the period. | ||||
(2) | Total return equals the increase or decrease of ending market value over beginning market value, plus distributions, divided by the beginning market value, assuming dividend reinvestment prices obtained under the Company's DRIP. Total return does not include sales load. | ||||
Calculated based upon the weighted average net assets for the period. | |||||
Interim periods are annualized. | |||||
(5) | Calculated based upon the weighted average of | ||||
Description | Notional Amount to be Purchased | Notional Amount to be Sold | Maturity Date | Gross Amount of Recognized Assets | Gross Amount of Recognized Liabilities | Balance Sheet Location of Net Amounts | ||||||||||||||||||||||||||||||||
Foreign currency forward contract | $ | 36,999 | £ | 27,894 | 2/11/2021 | $ | — | $ | (1,141) | Derivative liability | ||||||||||||||||||||||||||||
Foreign currency forward contract | $ | 30,308 | € | 25,614 | 2/11/2021 | $ | — | $ | (1,062) | Derivative liability | ||||||||||||||||||||||||||||
$ | — | $ | (2,203) |
Description | Notional Amount to be Purchased | Notional Amount to be Sold | Maturity Date | Gross Amount of Recognized Assets | Gross Amount of Recognized Liabilities | Balance Sheet Location of Net Amounts | ||||||||||||||||||||||||||||||||
Foreign currency forward contract | $ | 35,577 | £ | 27,494 | 11/12/2020 | $ | 25 | $ | — | Derivative asset | ||||||||||||||||||||||||||||
Foreign currency forward contract | $ | 30,260 | € | 25,614 | 11/12/2020 | $ | 198 | $ | — | Derivative asset | ||||||||||||||||||||||||||||
$ | 223 | $ | — |
December 31, 2017 | September 30, 2017 | |||||||
Lift Brands Holdings, Inc. | $ | 15,000 | $ | 15,000 | ||||
P2 Upstream Acquisition Co. | 10,000 | 10,000 | ||||||
Valet Merger Sub, Inc. | 9,326 | 9,326 | ||||||
Edge Fitness, LLC | 6,215 | 8,353 | ||||||
InMotion Entertainment Group, LLC | 5,545 | 7,544 | ||||||
EOS Fitness Opco Holdings, LLC | 5,000 | 5,000 | ||||||
Dominion Diagnostics, LLC (1) | 4,180 | 4,180 | ||||||
Impact Sales, LLC | 3,236 | 3,234 | ||||||
Pingora MSR Opportunity Fund I, LP (limited partnership interest) | 3,095 | 2,760 | ||||||
WeddingWire, Inc. | 3,000 | 3,000 | ||||||
Keypath Education, Inc. | 3,000 | 3,000 | ||||||
Motion Recruitment Partners LLC | 2,900 | 2,900 | ||||||
OmniSYS Acquisition Corporation | 2,500 | 2,500 | ||||||
Ping Identity Corporation | 2,500 | 2,500 | ||||||
Datto Inc. | 2,356 | — | ||||||
Traffic Solutions Holdings, Inc. | 2,248 | 2,998 | ||||||
4 Over International, LLC | 2,232 | 2,232 | ||||||
New IPT, Inc. | 2,229 | 2,229 | ||||||
Refac Optical Group | 2,080 | 2,080 | ||||||
SPC Partners VI, L.P. (limited partnership interest) | 1,862 | 2,000 | ||||||
Metamorph US 3, LLC (1) | 1,470 | 1,470 | ||||||
TransTrade Operators, Inc. (1)(2) | 1,393 | 1,052 | ||||||
Senior Loan Fund JV 1, LLC | 1,328 | 1,328 | ||||||
Edmentum, Inc. (1) | 932 | 2,664 | ||||||
Riverside Fund V, LP (limited partnership interest) | 539 | 539 | ||||||
Webster Capital III, L.P. (limited partnership interest) | 482 | 736 | ||||||
Sterling Capital Partners IV, L.P. (limited partnership interest) | 474 | 490 | ||||||
Tailwind Capital Partners II, L.P. (limited partnership interest) | 469 | 391 | ||||||
Beecken Petty O'Keefe Fund IV, L.P. (limited partnership interest) | 468 | 472 | ||||||
Ministry Brands, LLC | 375 | 1,708 | ||||||
Moelis Capital Partners Opportunity Fund I-B, L.P. (limited partnership interest) | 365 | 365 | ||||||
RCP Direct II, LP (limited partnership interest) | 364 | 364 | ||||||
Cenegenics, LLC (1) | 297 | 297 | ||||||
Riverside Fund IV, LP (limited partnership interest) | 254 | 254 | ||||||
ACON Equity Partners III, LP (limited partnership interest) | 231 | 239 | ||||||
Bunker Hill Capital II (QP), LP (limited partnership interest) | 183 | 183 | ||||||
RCP Direct, LP (limited partnership interest) | 178 | 184 | ||||||
SPC Partners V, L.P. (limited partnership interest) | 148 | 159 | ||||||
Riverlake Equity Partners II, LP (limited partnership interest) | 129 | 129 | ||||||
Milestone Partners IV, LP (limited partnership interest) | 84 | 180 | ||||||
Baird Capital Partners V, LP (limited partnership interest) | 54 | — | ||||||
BeyondTrust Software, Inc. | — | 5,995 | ||||||
Thing5, LLC | — | 3,000 | ||||||
Garretson Firm Resolution Group, Inc. | — | 508 | ||||||
Sailpoint Technologies, Inc. | — | 1,500 | ||||||
Systems, Inc. | — | 3,030 | ||||||
Total | $ | 98,721 | $ | 118,073 |
December 31, 2020 | September 30, 2020 | |||||||||||||
Assembled Brands Capital LLC | $ | 33,326 | $ | 36,079 | ||||||||||
WPEngine, Inc. | 26,348 | 26,348 | ||||||||||||
NuStar Logistics, L.P. | 17,911 | 17,911 | ||||||||||||
Athenex, Inc. | 17,085 | 22,780 | ||||||||||||
FFI Holdings I Corp | 16,529 | — | ||||||||||||
Thrasio, LLC | 11,355 | — | ||||||||||||
Jazz Acquisition, Inc. | 10,147 | — | ||||||||||||
Gulf Operating, LLC | 10,064 | — | ||||||||||||
Latam Airlines Group S.A. | 8,177 | — | ||||||||||||
MRI Software LLC | 6,473 | 7,239 | ||||||||||||
NeuAG, LLC | 4,382 | 4,382 | ||||||||||||
Corrona, LLC | 3,968 | 5,189 | ||||||||||||
Olaplex, Inc. | 3,834 | 1,917 | ||||||||||||
Pingora MSR Opportunity Fund I-A, LP | 3,500 | 3,500 | ||||||||||||
Dominion Diagnostics, LLC | 3,449 | 5,887 | ||||||||||||
Mindbody, Inc. | 3,048 | 3,048 | ||||||||||||
Ardonagh Midco 3 PLC | 2,506 | 3,007 | ||||||||||||
Accupac, Inc. | 2,346 | 2,346 | ||||||||||||
Acquia Inc. | 2,240 | 2,240 | ||||||||||||
New IPT, Inc. | 2,229 | 2,229 | ||||||||||||
ADB Companies, LLC | 1,667 | — | ||||||||||||
Apptio, Inc. | 1,538 | 1,538 | ||||||||||||
Telestream Holdings Corporation | 1,417 | — | ||||||||||||
Senior Loan Fund JV I, LLC | 1,328 | 1,328 | ||||||||||||
Ministry Brands, LLC | 1,000 | 425 | ||||||||||||
Coyote Buyer, LLC | 942 | 942 | ||||||||||||
Immucor, Inc. | 541 | 541 | ||||||||||||
GKD Index Partners, LLC | 231 | 231 | ||||||||||||
A.T. Holdings II SÀRL | — | 7,541 | ||||||||||||
iCIMs, Inc. | — | 882 | ||||||||||||
Total | $ | 197,581 | $ | 157,530 |
Portfolio Company/Type of Investment (1) | Cash Interest Rate | Industry | Principal | Net Realized Gain (Loss) | Amount of Interest, Fees or Dividends Credited in Income (2) | Fair Value as of October 1, 2020 | Gross Additions (3) | Gross Reductions (4) | Fair Value as of December 31, 2020 | % of Total Net Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Control Investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
C5 Technology Holdings, LLC | Data Processing & Outsourced Services | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
829 Common Units | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||
34,984,460.37 Preferred Units | — | — | 27,638 | — | — | 27,638 | 2.9 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dominion Diagnostics, LLC | Health Care Services | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 2/28/2024 | 6.00 | % | $ | 27,590 | — | 437 | 27,660 | — | (70) | 27,590 | 2.9 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.00% cash due 2/28/2024 | 6.00 | % | 7,699 | — | 111 | 5,260 | 2,439 | — | 7,699 | 0.8 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
30,030.8 Common Units in DD Healthcare Services Holdings, LLC | — | — | 7,667 | — | — | 7,667 | 0.8 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Star Speir Aviation Limited (5) | Airlines | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, 9.00% cash due 12/15/2025 | 7,500 | — | 130 | 11,510 | — | (4,010) | 7,500 | 0.8 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||
100% equity interest | — | — | 1,622 | 2,204 | (2,145) | 1,681 | 0.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
New IPT, Inc. | Oil & Gas Equipment & Services | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 3/17/2021 | 6.00 | % | 2,154 | — | 37 | 1,800 | 33 | (150) | 1,683 | 0.2 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.00% cash due 3/17/2021 | 6.00 | % | 1,009 | — | 17 | 788 | — | — | 788 | 0.1 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
50.087 Class A Common Units in New IPT Holdings, LLC | — | — | — | — | — | — | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Loan Fund JV I, LLC (6) | Multi-Sector Holdings | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt, LIBOR+7.00% cash due 12/29/2028 | 7.14 | % | 96,250 | — | 1,756 | 96,250 | — | — | 96,250 | 10.0 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
87.5% LLC equity interest | — | — | 21,190 | 8,074 | — | 29,264 | 3.0 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Control Investments | $ | 142,202 | $ | — | $ | 2,488 | $ | 201,385 | $ | 12,750 | $ | (6,375) | $ | 207,760 | 21.5 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Affiliate Investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assembled Brands Capital LLC | Specialized Finance | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+6.00% cash due 10/17/2023 | 7.00 | % | $ | 7,440 | $ | — | $ | 110 | $ | 4,194 | $ | 2,755 | $ | — | $ | 6,949 | 0.7 | % | ||||||||||||||||||||||||||||||||||||||||||||
1,609,201 Class A Units | — | — | 483 | — | (65) | 418 | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,019,168.80 Preferred Units, 6% | — | — | 1,091 | 10 | — | 1,101 | 0.1 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
70,424.5641 Class A Warrants (exercise price $3.3778) expiration date 9/9/2029 | — | — | — | — | — | — | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Caregiver Services, Inc. | Health Care Services | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,080,399 shares of Series A Preferred Stock, 10% | — | — | — | 741 | — | (238) | 503 | 0.1 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Affiliate Investments | $ | 7,440 | $ | — | $ | 110 | $ | 6,509 | $ | 2,765 | $ | (303) | $ | 8,971 | 0.9 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Total Control & Affiliate Investments | $ | 149,642 | $ | — | $ | 2,598 | $ | 207,894 | $ | 15,515 | $ | (6,678) | $ | 216,731 | 22.5 | % |
Portfolio Company/Type of Investment (1) | Cash Interest Rate | Industry | Principal | Net Realized Gain (Loss) | Amount of Interest, Fees or Dividends Credited in Income (2) | Fair Value at October 1, 2017 | Gross Additions (3) | Gross Reductions (4) | Fair Value at December 31, 2017 | % of Total Net Assets | ||||||||||||||||||||||||||
Control Investments | ||||||||||||||||||||||||||||||||||||
Traffic Solutions Holdings, Inc. | Construction & engineering | |||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7% (1% floor) cash 2% PIK due 4/1/2021 | 8.70 | % | $ | 36,661 | $ | — | $ | 1,088 | $ | 36,568 | $ | 186 | $ | (92 | ) | $ | 36,662 | 4.5 | % | |||||||||||||||||
First Lien Revolver, LIBOR+6% (1% floor) cash due 4/1/2021 | 7.70 | % | 2,000 | — | 37 | 1,250 | 750 | — | 2,000 | 0.2 | % | |||||||||||||||||||||||||
LC Facility, 6% cash due 4/1/2021 | 4,752 | — | 64 | 4,752 | — | — | 4,752 | 0.6 | % | |||||||||||||||||||||||||||
746,114 Series A Preferred Units, 10% | — | — | — | 7,700 | — | — | 7,700 | 0.9 | % | |||||||||||||||||||||||||||
746,114 Common Stock Units | — | — | — | — | — | — | — | — | % | |||||||||||||||||||||||||||
TransTrade Operators, Inc. (7) | Air freight and logistics | |||||||||||||||||||||||||||||||||||
First Lien Term Loan, 5% cash due 12/31/2017 | 15,973 | — | — | 1,810 | — | — | 1,810 | 0.2 | % | |||||||||||||||||||||||||||
First Lien Revolver, 8% cash due 12/31/2017 | 7,757 | — | — | — | — | — | — | — | % | |||||||||||||||||||||||||||
596.67 Series A Common Units | — | — | — | — | — | — | — | — | % | |||||||||||||||||||||||||||
4,000 Series A Preferred Units in TransTrade Holdings LLC | — | — | — | — | — | — | — | — | % | |||||||||||||||||||||||||||
5,200,000 Series B Preferred Units in TransTrade Holdings LLC | — | — | — | — | — | — | — | — | % | |||||||||||||||||||||||||||
First Star Speir Aviation Limited (6) | Airlines | |||||||||||||||||||||||||||||||||||
First Lien Term Loan, 9% cash due 12/15/2020 | 32,510 | — | 634 | 41,395 | 464 | (9,348 | ) | 32,511 | 4.0 | % | ||||||||||||||||||||||||||
100% equity interest | — | — | — | 3,926 | 3,011 | — | 6,937 | 0.8 | % | |||||||||||||||||||||||||||
First Star Bermuda Aviation Limited (6) | Airlines | |||||||||||||||||||||||||||||||||||
First Lien Term Loan, 9% cash 3% PIK due 8/19/2018 | 11,868 | — | 406 | 11,868 | — | — | 11,868 | 1.4 | % | |||||||||||||||||||||||||||
100% equity interest | — | — | — | 2,323 | 4,993 | — | 7,316 | 0.9 | % | |||||||||||||||||||||||||||
Eagle Hospital Physicians, LLC | Healthcare services | |||||||||||||||||||||||||||||||||||
Earn-out | — | — | — | 4,986 | 97 | — | 5,083 | 0.6 | % | |||||||||||||||||||||||||||
Senior Loan Fund JV I, LLC (5) | Multi-sector holdings | |||||||||||||||||||||||||||||||||||
Class A Mezzanine Secured Deferrable Floating Rate Notes due 2036 in SLF Repack Issuer 2016 LLC | 6.52 | % | 100,804 | — | 1,754 | 101,030 | — | (226 | ) | 100,804 | 12.3 | % | ||||||||||||||||||||||||
Class B Mezzanine Secured Deferrable Fixed Rate Notes, 15% PIK due 2036 in SLF Repack Issuer 2016 LLC | 27,463 | — | 1,006 | 27,641 | — | (178 | ) | 27,463 | 3.4 | % | ||||||||||||||||||||||||||
87.5% LLC equity interest | — | — | — | 5,525 | — | (645 | ) | 4,880 | 0.6 | % | ||||||||||||||||||||||||||
Ameritox Ltd. (7) | Healthcare services | |||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5% (1% floor) cash 3% PIK due 4/11/2021 | 6.69 | % | 39,438 | — | — | 4,445 | 361 | (6 | ) | 4,800 | 0.6 | % | ||||||||||||||||||||||||
14,090,126.4 Class A Preferred A Units in Ameritox Holdings II, LLC | — | — | — | — | — | — | — | — | % | |||||||||||||||||||||||||||
1,602,260.83 Class B Preferred A Units in Ameritox Holdings II, LLC | — | — | — | — | — | — | — | — | % | |||||||||||||||||||||||||||
4,930.03 Common Units in Ameritox Holdings II, LLC | — | — | — | — | — | — | — | — | % |
New IPT, Inc. | Oil & gas equipment services | |||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5% (1% floor) cash due 3/17/2021 | 6.69 | % | $ | 4,107 | $ | — | $ | 67 | $ | 4,107 | $ | — | $ | — | $ | 4,107 | 0.5 | % | ||||||||||||||||||
Second Lien Term Loan, LIBOR+5.1% (1% floor) cash due 9/17/2021 | 6.79 | % | 2,504 | — | 41 | 2,504 | — | — | 2,504 | 0.3 | % | |||||||||||||||||||||||||
First Lien Revolver, LIBOR+5% (1% floor) cash due 3/17/2021 | 6.69 | % | 1,009 | — | 18 | 1,009 | — | — | 1,009 | 0.1 | % | |||||||||||||||||||||||||
50.087 Class A Common Units in New IPT Holdings, LLC | — | — | — | 736 | 227 | — | 963 | 0.1 | % | |||||||||||||||||||||||||||
AdVenture Interactive, Corp. | Advertising | |||||||||||||||||||||||||||||||||||
9,073 shares of common stock | — | — | — | 13,818 | — | (7,397 | ) | 6,421 | 0.8 | % | ||||||||||||||||||||||||||
Keypath Education, Inc. | Advertising | |||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7% (1% floor) cash due 4/3/2022 | 8.69 | % | 19,960 | — | 435 | 19,960 | — | — | 19,960 | 2.4 | % | |||||||||||||||||||||||||
First Lien Revolver, LIBOR+7% (1% floor) cash due 4/3/2022 | 8.69 | % | — | — | 4 | — | — | — | — | — | % | |||||||||||||||||||||||||
9,073 Class A Units in FS AVI Holdco, LLC | — | — | — | 7,918 | 66 | — | 7,984 | 1.0 | % | |||||||||||||||||||||||||||
Total Control Investments | $ | 306,806 | $ | — | $ | 5,554 | $ | 305,271 | $ | 10,155 | $ | (17,892 | ) | $ | 297,534 | 36.3 | % | |||||||||||||||||||
Affiliate Investments | ||||||||||||||||||||||||||||||||||||
Caregiver Services, Inc. | Healthcare services | |||||||||||||||||||||||||||||||||||
Second Lien Term Loan, 10% cash 2% PIK due 6/30/2019 | 9,752 | — | 265 | 9,665 | 43 | — | 9,708 | 1.2 | % | |||||||||||||||||||||||||||
1,080,399 shares of Series A Preferred Stock, 10% | — | — | — | 2,534 | — | (373 | ) | 2,161 | 0.3 | % | ||||||||||||||||||||||||||
AmBath/ReBath Holdings, Inc. | Home improvement retail | |||||||||||||||||||||||||||||||||||
First Lien Term Loan B, 12.5% cash 2.5% PIK due 8/31/2018 | 22,552 | — | 864 | 22,957 | 169 | (574 | ) | 22,552 | 2.8 | % | ||||||||||||||||||||||||||
4,668,788 shares of Preferred Stock | — | — | — | 1,827 | 221 | — | 2,048 | 0.2 | % | |||||||||||||||||||||||||||
Total Affiliate Investments | $ | 32,304 | $ | — | $ | 1,129 | $ | 36,983 | $ | 433 | $ | (947 | ) | $ | 36,469 | 4.4 | % | |||||||||||||||||||
Total Control & Affiliate Investments | $ | 339,110 | $ | — | $ | 6,683 | $ | 342,254 | $ | 10,588 | $ | (18,839 | ) | $ | 334,003 | 40.8 | % |
Portfolio Company/Type of Investment (1) | Cash Interest Rate | Industry | Principal | Net Realized Gain (Loss) | Amount of Interest, Fees or Dividends Credited in Income (2) | Fair Value as of October 1, 2019 | Gross Additions (3) | Gross Reductions (4) | Fair Value as of December 31, 2019 | % of Total Net Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Control Investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
C5 Technology Holdings, LLC | Data Processing & Outsourced Services | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
829 Common Units | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||
34,984,460.37 Preferred Units | — | — | 34.984 | — | — | 34,984 | 3.8 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Star Speir Aviation Limited (5) | Airlines | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, 9.00% cash due 12/15/2020 | $ | 11,510 | — | 323 | 11,510 | — | — | 11,510 | 1.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
100% equity interest | — | — | — | 4,630 | — | (174) | 4,456 | 0.5 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||
New IPT, Inc. | Oil & Gas Equipment & Services | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 3/17/2021 | 6.94 | % | 2,755 | — | 61 | 3,256 | — | (501) | 2,755 | 0.3 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.00% cash due 3/17/2021 | 6.94 | % | 1,009 | — | 20 | 1,009 | — | — | 1,009 | 0.1 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
50.087 Class A Common Units in New IPT Holdings, LLC | — | — | 2,903 | — | — | 2,903 | 0.3 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Loan Fund JV I, LLC (6) | Multi-Sector Holdings | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt, LIBOR+7.00% cash due 12/29/2028 | 9.01 | % | 96,250 | — | 2,217 | 96,250 | — | — | 96,250 | 10.3 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
87.5% LLC equity interest | — | — | 30,052 | 2,171 | — | 32,223 | 3.5 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Thruline Marketing, Inc. | Advertising | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 4/3/2022 | — | — | 257 | 18,146 | — | (18,146) | — | — | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+7.75% cash due 4/3/2022 | — | — | 2 | — | — | — | — | — | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||
9,073 Class A Units in FS AVI Holdco, LLC | — | — | 6,438 | — | — | 6,438 | 0.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Control Investments | $ | 111,524 | $ | — | $ | 2,880 | $ | 209,178 | $ | 2,171 | $ | (18,821) | $ | 192,528 | 20.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Affiliate Investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assembled Brands Capital LLC | Specialized Finance | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+6.00% cash due 10/17/2023 | 7.94 | % | $ | 5,585 | $ | — | $ | 119 | $ | 5,585 | $ | — | $ | — | $ | 5,585 | 0.6 | % | ||||||||||||||||||||||||||||||||||||||||||||
1,609,201 Class A Units | — | — | 782 | 135 | — | 917 | 0.1 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,019,168.80 Preferred Units, 6% | — | — | 1,019 | 21 | — | 1,040 | 0.1 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
70,424.5641 Class A Warrants (exercise price $3.3778) expiration date 9/9/2029 | — | — | — | — | — | — | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Caregiver Services, Inc. | Health Care Services | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,080,399 shares of Series A Preferred Stock, 10% | — | — | — | 1,784 | — | (220) | 1,564 | 0.2 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Affiliate Investments | $ | 5,585 | $ | — | $ | 119 | $ | 9,170 | $ | 156 | $ | (220) | $ | 9,106 | 1.0 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Total Control & Affiliate Investments | $ | 117,109 | $ | — | $ | 2,999 | $ | 218,348 | $ | 2,327 | $ | (19,041) | $ | 201,634 | 21.7 | % |
Portfolio Company/Type of Investment (1) | Cash Interest Rate | Industry | Principal | Net Realized Gain (Loss) | Amount of Interest, Fees or Dividends Credited in Income (2) | Fair Value at October 1, 2015 | Gross Additions (3) | Gross Reductions (4) | Fair Value at December 31, 2016 | % of Total Net Assets | ||||||||||||||||||||||||||
Control Investments | ||||||||||||||||||||||||||||||||||||
Traffic Solutions Holdings, Inc. | Construction & engineering | |||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7% (1% floor) cash 2% PIK due 4/1/2021 | 8.00 | % | $ | 36,278 | $ | — | $ | 1,050 | $ | 36,328 | $ | 310 | $ | (360 | ) | $ | 36,278 | 3.5 | % | |||||||||||||||||
First Lien Revolver, LIBOR+7% (1% floor) cash due 4/1/2021 | 8.00 | % | 1,800 | — | 53 | 2,800 | 2 | (1,002 | ) | 1,800 | 0.2 | % | ||||||||||||||||||||||||
LC Facility, 6% cash due 4/1/2021 | 3,518 | — | 58 | 3,518 | 2 | (2 | ) | 3,518 | 0.3 | % | ||||||||||||||||||||||||||
746,114 Series A Preferred Units - Granted | — | — | 676 | 20,094 | 1,919 | — | 22,013 | 2.1 | % | |||||||||||||||||||||||||||
746,114 Common Stock Units - Granted | — | — | — | — | 378 | — | 378 | — | % | |||||||||||||||||||||||||||
TransTrade Operators, Inc. (7) | Air freight and logistics | |||||||||||||||||||||||||||||||||||
First Lien Term Loan, 11% cash 3% PIK due 12/31/2017 | 15,973 | — | 6 | 7,046 | 642 | (6 | ) | 7,682 | 0.7 | % | ||||||||||||||||||||||||||
First Lien Revolver, 8% cash due 12/31/2017 | 8,220 | — | — | — | 1,335 | (1,335 | ) | — | — | % | ||||||||||||||||||||||||||
596.67 Series A Common Units - Granted | — | — | — | — | — | — | — | — | % | |||||||||||||||||||||||||||
4,000,000 Series A Preferred Units in TransTrade Holdings LLC - Purchased | — | — | — | — | — | — | — | — | % | |||||||||||||||||||||||||||
5,200,000 Series B Preferred Units in TransTrade Holding LLC - Purchased | — | — | — | — | — | — | — | — | % | |||||||||||||||||||||||||||
First Star Aviation, LLC (6) | Airlines | |||||||||||||||||||||||||||||||||||
10,104,401 Common Units | — | (3,767 | ) | — | 2,413 | 87 | (2,500 | ) | — | — | % | |||||||||||||||||||||||||
First Star Speir Aviation Limited (6) | Airlines | |||||||||||||||||||||||||||||||||||
First Lien Term Loan, 9% cash due 12/15/2020 | 41,395 | — | 647 | 54,214 | 1,846 | (14,665 | ) | 41,395 | 4.0 | % | ||||||||||||||||||||||||||
100% equity interest | — | — | — | 2,839 | — | (98 | ) | 2,741 | 0.3 | % | ||||||||||||||||||||||||||
First Star Bermuda Aviation Limited (6) | Airlines | |||||||||||||||||||||||||||||||||||
First Lien Term Loan, 9% cash 3% PIK due 8/19/2018 | 11,868 | — | 267 | 11,851 | 58 | (41 | ) | 11,868 | 1.2 | % | ||||||||||||||||||||||||||
100% equity interest | — | — | — | 5,729 | (130 | ) | (605 | ) | 4,994 | 0.5 | % | |||||||||||||||||||||||||
Eagle Hospital Physicians, LLC | Healthcare services | |||||||||||||||||||||||||||||||||||
First Lien Term Loan A, 8% PIK due 4/30/2017 | 14,175 | — | 286 | 13,875 | 300 | — | 14,175 | 1.4 | % | |||||||||||||||||||||||||||
First Lien Term Loan B, 8.1% PIK due 4/30/2017 | 3,970 | — | 81 | 3,887 | 83 | — | 3,970 | 0.4 | % | |||||||||||||||||||||||||||
First Lien Revolver, 8% cash due 4/30/2017 | 1,913 | — | 43 | 1,913 | 19 | (19 | ) | 1,913 | 0.2 | % | ||||||||||||||||||||||||||
4,100,000 Class A Common Units | — | — | — | 7,421 | — | (7,188 | ) | 233 | — | % | ||||||||||||||||||||||||||
Senior Loan Fund JV I, LLC (5) | Multi-sector holdings | |||||||||||||||||||||||||||||||||||
Subordinated Note, LIBOR+8% cash due 5/2/2021 | — | (19,857 | ) | 2,859 | 129,004 | 16,546 | (145,550 | ) | — | — | % | |||||||||||||||||||||||||
Class A Mezzanine Secured Deferrable Floating Rate Notes due 2036 in SLF Repack Issuer 2016 LLC | 6.76 | % | 101,030 | — | 171 | — | 101,030 | — | 101,030 | 9.8 | % | |||||||||||||||||||||||||
Class B Mezzanine Secured Deferrable Fixed Rate Notes due 2036 in SLF Repack Issuer 2016 LLC | 24,756 | — | 92 | — | 24,756 | — | 24,756 | 2.4 | % | |||||||||||||||||||||||||||
87.5% equity interest | — | — | 700 | 13,708 | 150 | — | 13,858 | 1.3 | % |
Express Group Holdings LLC (7) | Oil & gas equipment services | |||||||||||||||||||||||||||||||||||
First Lien Term Loan, PRIME+6% (1% floor) cash due 9/3/2019 | 10.75 | % | $ | 12,506 | $ | — | $ | — | $ | 1,193 | $ | — | $ | (1,193 | ) | $ | — | — | % | |||||||||||||||||
First Lien Revolver, PRIME+3.5% (3.5% floor) cash due 3/4/2019 | 7.00 | % | 6,090 | — | — | 6,090 | — | (5,211 | ) | 879 | 0.1 | % | ||||||||||||||||||||||||
Last-In Revolver, PRIME+3.5% (3.5% floor) cash due 10/7/2016 | 7.00 | % | 3,000 | — | 53 | 3,000 | — | — | 3,000 | 0.3 | % | |||||||||||||||||||||||||
14,033,391 Series B Preferred Units | — | — | — | — | — | — | — | — | % | |||||||||||||||||||||||||||
280,668 Series A Preferred Units | — | — | — | — | — | — | — | — | % | |||||||||||||||||||||||||||
1,456,344 Common Units | — | — | — | — | — | — | — | — | % | |||||||||||||||||||||||||||
Ameritox Ltd. | Healthcare services | |||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5% (1% floor) cash 3% PIK due 4/11/2021 | 6.00 | % | 31,498 | — | 734 | 31,039 | 459 | — | 31,498 | 3.1 | % | |||||||||||||||||||||||||
14,090,126.4 Class A Preferred A Units in Ameritox Holdings II, LLC | — | — | — | 15,437 | 720 | — | 16,157 | 1.6 | % | |||||||||||||||||||||||||||
1,602,260.83 Class B Preferred A Units in Ameritox Holdings II, LLC | — | — | — | 1,755 | 82 | — | 1,837 | 0.2 | % | |||||||||||||||||||||||||||
4,930.03 Common Units in Ameritox Holdings II, LLC | — | — | — | 13,113 | — | (6,925 | ) | 6,188 | 0.6 | % | ||||||||||||||||||||||||||
Total Control Investments | $ | 317,990 | $ | (23,624 | ) | $ | 7,776 | $ | 388,267 | $ | 150,594 | $ | (186,700 | ) | $ | 352,161 | 34.2 | % | ||||||||||||||||||
Affiliate Investments | ||||||||||||||||||||||||||||||||||||
Caregiver Services, Inc. | Healthcare services | |||||||||||||||||||||||||||||||||||
Second Lien Term Loan, 10% cash 2% PIK due 6/30/2019 | 9,573 | — | 293 | 9,549 | 49 | (26 | ) | 9,572 | 0.9 | % | ||||||||||||||||||||||||||
1,080,399 shares of Series A Preferred Stock, 10% | — | — | — | 4,079 | — | (117 | ) | 3,962 | 0.4 | % | ||||||||||||||||||||||||||
AmBath/ReBath Holdings, Inc. | Home improvement retail | |||||||||||||||||||||||||||||||||||
First Lien Term Loan B, 12.5% cash 2.5% PIK due 8/31/2017 | 24,015 | — | 1,398 | 24,268 | 416 | (548 | ) | 24,136 | 2.3 | % | ||||||||||||||||||||||||||
4,668,788 shares of Preferred Stock | — | — | — | 1,873 | — | (82 | ) | 1,791 | 0.2 | % | ||||||||||||||||||||||||||
Total Affiliate Investments | $ | 33,588 | $ | — | $ | 1,691 | $ | 39,769 | $ | 465 | $ | (773 | ) | $ | 39,461 | 3.8 | % | |||||||||||||||||||
Total Control & Affiliate Investments | $ | 351,578 | $ | (23,624 | ) | $ | 9,467 | $ | 428,036 | $ | 151,059 | $ | (187,473 | ) | $ | 391,622 | 38.0 | % |
December 31, 2020 | September 30, 2020 | |||||||||||||
Cost: | ||||||||||||||
Senior secured debt | 83.31 | % | 80.58 | % | ||||||||||
Debt investment in SLF JV I | 5.48 | 5.77 | ||||||||||||
Common equity and warrants | 3.32 | 3.69 | ||||||||||||
Subordinated debt | 2.83 | 4.64 | ||||||||||||
LLC equity interests of SLF JV I | 2.81 | 2.95 | ||||||||||||
Preferred equity | 2.25 | 2.37 | ||||||||||||
Total | 100.00 | % | 100.00 | % |
December 31, 2017 | September 30, 2017 | |||||
Cost: | ||||||
Senior secured debt | 72.44 | % | 74.73 | % | ||
Subordinated debt | 7.70 | 6.42 | ||||
Debt investments in SLF JV I | 7.65 | 7.32 | ||||
LLC equity interests of SLF JV I | 0.96 | 0.92 | ||||
Purchased equity | 6.86 | 6.40 | ||||
Equity grants | 2.91 | 2.78 | ||||
Limited partnership interests | 1.48 | 1.43 | ||||
Total | 100.00 | % | 100.00 | % |
December 31, 2020 | September 30, 2020 | |||||||||||||
Fair value: | ||||||||||||||
Senior secured debt | 85.70 | % | 84.06 | % | ||||||||||
Debt investment in SLF JV I | 5.62 | 6.12 | ||||||||||||
Subordinated debt | 3.08 | 4.17 | ||||||||||||
Common equity and warrants | 2.15 | 2.40 | ||||||||||||
Preferred equity | 1.74 | 1.90 | ||||||||||||
LLC equity interests of SLF JV I | 1.71 | 1.35 | ||||||||||||
Total | 100.00 | % | 100.00 | % |
December 31, 2017 | September 30, 2017 | |||||
Fair value: | ||||||
Senior secured debt | 75.84 | % | 78.01 | % | ||
Subordinated debt | 6.95 | 6.06 | ||||
Debt investments in SLF JV I | 9.06 | 8.35 | ||||
LLC equity interests of SLF JV I | 0.34 | 0.36 | ||||
Purchased equity | 5.49 | 5.10 | ||||
Equity grants | 0.50 | 0.45 | ||||
Limited partnership interests | 1.82 | 1.67 | ||||
Total | 100.00 | % | 100.00 | % |
December 31, 2020 | September 30, 2020 | |||||||||||||
Cost: | ||||||||||||||
Application Software | 12.51 | % | 9.71 | % | ||||||||||
Multi-Sector Holdings (1) | 8.38 | 8.87 | ||||||||||||
Data Processing & Outsourced Services | 7.50 | 6.57 | ||||||||||||
Pharmaceuticals | 6.35 | 5.96 | ||||||||||||
Biotechnology | 6.17 | 5.36 | ||||||||||||
Health Care Services | 4.20 | 4.26 | ||||||||||||
Specialized Finance | 3.98 | 3.11 | ||||||||||||
Personal Products | 3.13 | 3.00 | ||||||||||||
Movies & Entertainment | 2.86 | 2.68 | ||||||||||||
Property & Casualty Insurance | 2.73 | 2.88 | ||||||||||||
Integrated Telecommunication Services | 2.53 | 2.67 | ||||||||||||
Real Estate Services | 2.22 | 2.34 | ||||||||||||
Specialty Chemicals | 2.20 | 2.68 | ||||||||||||
Fertilizers & Agricultural Chemicals | 1.96 | 2.02 | ||||||||||||
Aerospace & Defense | 1.94 | 1.68 | ||||||||||||
Auto Parts & Equipment | 1.91 | 2.02 | ||||||||||||
Internet Services & Infrastructure | 1.91 | 1.72 | ||||||||||||
Oil & Gas Refining & Marketing | 1.77 | 1.87 | ||||||||||||
Managed Health Care | 1.56 | 1.65 | ||||||||||||
Electronic Components | 1.52 | 1.53 | ||||||||||||
Oil & Gas Storage & Transportation | 1.48 | 1.59 | ||||||||||||
Research & Consulting Services | 1.41 | 1.49 | ||||||||||||
Airport Services | 1.27 | 1.34 | ||||||||||||
Health Care Supplies | 1.24 | 1.30 | ||||||||||||
Health Care Technology | 1.22 | 1.29 | ||||||||||||
Construction & Engineering | 1.22 | 0.80 | ||||||||||||
Independent Power Producers & Energy Traders | 1.21 | 1.29 | ||||||||||||
Diversified Support Services | 1.07 | 1.13 | ||||||||||||
Industrial Machinery | 1.06 | 0.90 | ||||||||||||
Insurance Brokers | 0.96 | 1.05 | ||||||||||||
Systems Software | 0.96 | 1.24 | ||||||||||||
Electrical Components & Equipment | 0.91 | 1.25 | ||||||||||||
Hotels, Resorts & Cruise Lines | 0.87 | 0.92 | ||||||||||||
IT Consulting & Other Services | 0.85 | 0.89 | ||||||||||||
Internet & Direct Marketing Retail | 0.84 | 0.89 | ||||||||||||
Airlines | 0.81 | 0.63 | ||||||||||||
Advertising | 0.77 | 0.82 | ||||||||||||
Health Care Distributors | 0.73 | 0.77 | ||||||||||||
Apparel, Accessories & Luxury Goods | 0.72 | 0.82 | ||||||||||||
Restaurants | 0.59 | 0.61 | ||||||||||||
Commercial Printing | 0.45 | 0.47 | ||||||||||||
Education Services | 0.42 | 1.37 | ||||||||||||
Food Retail | 0.39 | 0.41 | ||||||||||||
Diversified Real Estate Activities | 0.36 | 0.92 | ||||||||||||
Trading Companies & Distributors | 0.33 | 0.61 | ||||||||||||
Oil & Gas Equipment & Services | 0.18 | 0.20 | ||||||||||||
Construction Materials | 0.12 | 0.13 | ||||||||||||
Leisure Facilities | 0.11 | 0.11 | ||||||||||||
Specialty Stores | 0.07 | 0.08 | ||||||||||||
Thrifts & Mortgage Finance | 0.04 | 0.06 | ||||||||||||
Other Diversified Financial Services | 0.01 | 0.01 | ||||||||||||
General Merchandise Stores | — | 1.15 | ||||||||||||
Metal & Glass Containers | — | 0.68 | ||||||||||||
Health Care Facilities | — | 0.19 | ||||||||||||
Specialized REITs | — | 0.01 | ||||||||||||
Total | 100.00 | % | 100.00 | % |
December 31, 2017 | September 30, 2017 | |||||
Cost: | ||||||
Healthcare services | 12.48 | % | 11.98 | % | ||
Internet software & services | 11.95 | 15.37 | ||||
Multi-sector holdings (1) | 10.32 | 9.87 | ||||
Healthcare equipment | 5.94 | 5.67 | ||||
Data processing & outsourced services | 4.81 | 4.42 | ||||
Environmental & facilities services | 4.15 | 2.84 | ||||
Construction & engineering | 4.10 | 3.86 | ||||
Pharmaceuticals | 3.63 | 3.46 | ||||
Advertising | 3.32 | 4.82 | ||||
Education services | 3.09 | 2.85 | ||||
Airlines | 3.03 | 3.28 | ||||
Specialty stores | 2.77 | 3.33 | ||||
Integrated telecommunication services | 2.45 | 1.75 | ||||
Technology distributors | 2.04 | — | ||||
Leisure facilities | 1.96 | 1.76 | ||||
Oil & gas refining & marketing | 1.95 | — | ||||
Air freight and logistics | 1.94 | 1.85 | ||||
Housewares & specialties | 1.78 | 1.70 | ||||
Oil & gas equipment services | 1.64 | 1.57 | ||||
Consumer electronics | 1.48 | 1.32 | ||||
Home improvement retail | 1.35 | 1.31 | ||||
Auto parts & equipment | 1.26 | 1.21 | ||||
Oil & gas exploration & production | 1.07 | — | ||||
Research & consulting services | 1.02 | 2.16 | ||||
Diversified support services | 0.99 | 1.29 | ||||
Healthcare technology | 0.86 | — | ||||
Security & alarm services | 0.79 | 0.75 | ||||
Real estate services | 0.77 | 0.74 | ||||
Other diversified financial services | 0.68 | 0.69 | ||||
Casinos & gaming | 0.67 | 1.33 | ||||
Commodity chemicals | 0.65 | — | ||||
Healthcare distributors | 0.53 | — | ||||
Precious metals & minerals | 0.44 | 0.42 | ||||
Trucking | 0.42 | 0.40 | ||||
Thrift & mortgage finance | 0.41 | 0.41 | ||||
Distributors | 0.39 | 0.85 | ||||
Industrial machinery | 0.39 | 0.86 | ||||
Commercial printing | 0.36 | 0.34 | ||||
Apparel, accessories & luxury goods | 0.31 | 0.29 | ||||
Wireless telecommunication services | 0.30 | — | ||||
Restaurants | 0.29 | 0.28 | ||||
Application software | 0.29 | 2.93 | ||||
General merchandise stores | 0.25 | — | ||||
Food retail | 0.25 | 0.24 | ||||
IT consulting & other services | 0.24 | 0.23 | ||||
Specialized finance | 0.19 | 0.18 | ||||
Human resources & employment services | — | — | ||||
Hypermarkets & super centers | — | 0.68 | ||||
Computer & electronics retail | — | 0.36 | ||||
Multi-utilities | — | 0.35 | ||||
Total | 100.00 | % | 100.00 | % |
December 31, 2017 | September 30, 2017 | |||||
Fair value: | ||||||
Internet software & services | 13.71 | % | 17.20 | % | ||
Multi-sector holdings (1) | 11.58 | 10.67 | ||||
Healthcare services | 5.41 | 6.09 | ||||
Data processing & outsourced services | 5.04 | 4.43 | ||||
Environmental & facilities services | 4.94 | 3.29 | ||||
Pharmaceuticals | 4.45 | 4.07 | ||||
Airlines | 4.14 | 3.86 | ||||
Healthcare equipment | 4.00 | 4.73 | ||||
Construction & engineering | 3.61 | 3.26 | ||||
Advertising | 3.25 | 5.43 | ||||
Specialty stores | 3.22 | 3.69 | ||||
Education services | 2.52 | 2.48 | ||||
Integrated telecommunication services | 2.51 | 2.03 | ||||
Leisure facilities | 2.45 | 2.11 | ||||
Technology distributors | 2.42 | — | ||||
Oil & gas refining & marketing | 2.33 | — | ||||
Housewares & specialties | 2.11 | 1.93 | ||||
Oil & gas equipment services | 2.02 | 1.84 | ||||
Consumer electronics | 1.83 | 1.56 | ||||
Home improvement retail | 1.74 | 1.61 | ||||
Auto parts & equipment | 1.53 | 1.41 | ||||
Research & consulting services | 1.33 | 2.50 | ||||
Oil & gas exploration & production | 1.26 | — | ||||
Diversified support services | 1.14 | 1.46 | ||||
Healthcare technology | 1.03 | — | ||||
Security & alarm services | 0.92 | 0.85 | ||||
Real estate services | 0.90 | 0.84 | ||||
Casinos & gaming | 0.81 | 1.52 | ||||
Commodity chemicals | 0.77 | — | ||||
Other diversified financial services | 0.77 | 0.76 | ||||
Healthcare distributors | 0.64 | — | ||||
Precious metals & minerals | 0.53 | 0.48 | ||||
Trucking | 0.50 | 0.46 | ||||
Application software | 0.46 | 3.50 | ||||
Distributors | 0.46 | 0.96 | ||||
Industrial machinery | 0.46 | 0.97 | ||||
Commercial printing | 0.43 | 0.39 | ||||
Leisure products | 0.42 | 0.38 | ||||
Thrift & mortgage finance | 0.40 | 0.40 | ||||
Wireless telecommunication services | 0.36 | — | ||||
Restaurants | 0.34 | 0.32 | ||||
General Merchandise Stores | 0.32 | — | ||||
Food retail | 0.30 | 0.28 | ||||
IT consulting & other services | 0.28 | 0.25 | ||||
Specialized finance | 0.23 | 0.21 | ||||
Air freight and logistics | 0.13 | 0.12 | ||||
Human resources & employment services | — | — | ||||
Hypermarkets & super centers | — | 0.75 | ||||
Computer & electronics retail | — | 0.42 | ||||
Multi-utilities | — | 0.41 | ||||
Apparel, accessories & luxury goods | — | 0.08 | ||||
Total | 100.00 | % | 100.00 | % |
December 31, 2020 | September 30, 2020 | |||||||||||||
Fair value: | ||||||||||||||
Application Software | 12.88 | % | 10.21 | % | ||||||||||
Multi-Sector Holdings (1) | 7.54 | 7.74 | ||||||||||||
Data Processing & Outsourced Services | 7.14 | 6.33 | ||||||||||||
Pharmaceuticals | 6.91 | 6.55 | ||||||||||||
Biotechnology | 6.54 | 6.14 | ||||||||||||
Specialized Finance | 4.04 | 3.08 | ||||||||||||
Health Care Services | 3.64 | 3.81 | ||||||||||||
Personal Products | 3.27 | 3.24 | ||||||||||||
Movies & Entertainment | 3.00 | 2.77 | ||||||||||||
Property & Casualty Insurance | 2.81 | 2.97 | ||||||||||||
Integrated Telecommunication Services | 2.48 | 2.61 | ||||||||||||
Real Estate Services | 2.23 | 2.40 | ||||||||||||
Specialty Chemicals | 2.16 | 2.48 | ||||||||||||
Fertilizers & Agricultural Chemicals | 2.02 | 2.14 | ||||||||||||
Auto Parts & Equipment | 1.90 | 1.99 | ||||||||||||
Aerospace & Defense | 1.85 | 1.56 | ||||||||||||
Internet Services & Infrastructure | 1.83 | 1.69 | ||||||||||||
Oil & Gas Refining & Marketing | 1.73 | 1.90 | ||||||||||||
Electronic Components | 1.71 | 1.69 | ||||||||||||
Managed Health Care | 1.59 | 1.70 | ||||||||||||
Research & Consulting Services | 1.46 | 1.54 | ||||||||||||
Oil & Gas Storage & Transportation | 1.36 | 1.64 | ||||||||||||
Health Care Technology | 1.29 | 1.40 | ||||||||||||
Construction & Engineering | 1.28 | 0.86 | ||||||||||||
Health Care Supplies | 1.27 | 1.37 | ||||||||||||
Airport Services | 1.24 | 1.35 | ||||||||||||
Independent Power Producers & Energy Traders | 1.20 | 1.32 | ||||||||||||
Insurance Brokers | 1.10 | 1.15 | ||||||||||||
Diversified Support Services | 1.07 | 1.12 | ||||||||||||
Airlines | 1.03 | 0.83 | ||||||||||||
Hotels, Resorts & Cruise Lines | 1.00 | 1.09 | ||||||||||||
Systems Software | 0.99 | 1.30 | ||||||||||||
Electrical Components & Equipment | 0.95 | 1.30 | ||||||||||||
Internet & Direct Marketing Retail | 0.94 | 0.97 | ||||||||||||
Industrial Machinery | 0.91 | 0.74 | ||||||||||||
IT Consulting & Other Services | 0.83 | 0.88 | ||||||||||||
Advertising | 0.81 | 0.85 | ||||||||||||
Health Care Distributors | 0.73 | 0.78 | ||||||||||||
Restaurants | 0.60 | 0.50 | ||||||||||||
Diversified Real Estate Activities | 0.44 | 1.07 | ||||||||||||
Commercial Printing | 0.43 | 0.47 | ||||||||||||
Food Retail | 0.41 | 0.44 | ||||||||||||
Apparel, Accessories & Luxury Goods | 0.39 | 0.50 | ||||||||||||
Education Services | 0.39 | 0.45 | ||||||||||||
Trading Companies & Distributors | 0.33 | 0.64 | ||||||||||||
Oil & Gas Equipment & Services | 0.14 | 0.16 | ||||||||||||
Construction Materials | 0.13 | 0.13 | ||||||||||||
Thrifts & Mortgage Finance | 0.01 | 0.02 | ||||||||||||
Leisure Facilities | — | — | ||||||||||||
General Merchandise Stores | — | 1.14 | ||||||||||||
Metal & Glass Containers | — | 0.75 | ||||||||||||
Health Care Facilities | — | 0.23 | ||||||||||||
Specialized REITs | — | 0.01 | ||||||||||||
Total | 100.00 | % | 100.00 | % |
December 31, 2017 | September 30, 2017 | December 31, 2020 | September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | % of Debt Portfolio | Fair Value | % of Debt Portfolio | Cost | % of Debt Portfolio | Fair Value | % of Debt Portfolio | Cost | % of Debt Portfolio | Fair Value | % of Debt Portfolio | Cost | % of Debt Portfolio | Fair Value | % of Debt Portfolio | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrual | $ | 1,258,056 | 85.49 | % | $ | 1,258,658 | 96.81 | % | $ | 1,344,535 | 86.46 | % | $ | 1,357,794 | 95.29 | % | Accrual | $ | 1,609,920 | 99.96 | % | $ | 1,616,023 | 99.97 | % | $ | 1,500,364 | 98.79 | % | $ | 1,483,284 | 99.89 | % | |||||||||||||||||||||||||||||||||||||||||||||
PIK non-accrual (1) | 12,661 | 0.86 | — | — | 10,227 | 0.66 | 379 | 0.03 | PIK non-accrual (1) | — | — | — | — | 12,661 | 0.83 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash non-accrual (2) | 200,859 | 13.65 | 41,457 | 3.19 | 200,210 | 12.88 | 66,636 | 4.68 | Cash non-accrual (2) | 588 | 0.04 | 470 | 0.03 | 5,712 | 0.38 | 1,571 | 0.11 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,471,576 | 100.00 | % | $ | 1,300,115 | 100.00 | % | $ | 1,554,972 | 100.00 | % | $ | 1,424,809 | 100.00 | % | Total | $ | 1,610,508 | 100.00 | % | $ | 1,616,493 | 100.00 | % | $ | 1,518,737 | 100.00 | % | $ | 1,484,855 | 100.00 | % |
December 31, 2017 | September 30, 2017 | December 31, 2020 | September 30, 2020 | |||||||||||||||
Senior secured loans (1) | $249,967 | $245,063 | Senior secured loans (1) | $313,978 | $307,579 | |||||||||||||
Weighted average interest rate on senior secured loans (2) | 7.81% | 7.7% | Weighted average interest rate on senior secured loans (2) | 5.65% | 5.44% | |||||||||||||
Number of borrowers in SLF JV I | 34 | 32 | Number of borrowers in SLF JV I | 56 | 56 | |||||||||||||
Largest exposure to a single borrower (1) | $18,251 | $18,374 | Largest exposure to a single borrower (1) | $9,879 | $10,487 | |||||||||||||
Total of five largest loan exposures to borrowers (1) | $77,991 | $82,728 | Total of five largest loan exposures to borrowers (1) | $46,981 | $49,097 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
Access CIG, LLC | First Lien Term Loan, LIBOR+3.75% cash due 2/27/2025 | 3.98 | % | Diversified Support Services | $ | 9,182 | $ | 9,149 | $ | 9,107 | |||||||||||||||||||
ADB Companies, LLC | First Lien Term Loan, LIBOR+6.25% cash due 12/18/2025 | 7.25 | % | Construction & Engineering | 6667 | 6,500 | 6,533 | (4) | |||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+6.25% cash due 12/18/2025 | Construction & Engineering | — | (33) | (27) | (4)(5) | ||||||||||||||||||||||||
Total ADB Companies, LLC | 6,467 | 6,506 | |||||||||||||||||||||||||||
AdVenture Interactive, Corp. | 927 shares of common stock | Advertising | 1,390 | 1,416 | (4) | ||||||||||||||||||||||||
AI Ladder (Luxembourg) Subco S.a.r.l. | First Lien Term Loan, LIBOR+4.50% cash due 7/9/2025 | 4.65 | % | Electrical Components & Equipment | 6,011 | 5,894 | 5,974 | (4) | |||||||||||||||||||||
Airbnb, Inc. | First Lien Term Loan, LIBOR+7.50% cash due 4/17/2025 | 8.50 | % | Hotels, Resorts & Cruise Lines | 3,044 | 2,977 | 3,306 | (4) | |||||||||||||||||||||
Altice France S.A. | First Lien Term Loan, LIBOR+4.00% cash due 8/14/2026 | 4.24 | % | Integrated Telecommunication Services | 4,631 | 4,447 | 4,623 | ||||||||||||||||||||||
Alvogen Pharma US, Inc. | First Lien Term Loan, LIBOR+5.25% cash due 12/31/2023 | 6.25 | % | Pharmaceuticals | 9,879 | 9,643 | 9,500 | ||||||||||||||||||||||
Amplify Finco Pty Ltd. | First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026 | 5.00 | % | Movies & Entertainment | 7,940 | 7,861 | 7,384 | (4) | |||||||||||||||||||||
Anastasia Parent, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/11/2025 | Personal Products | 2,821 | 2,247 | 1,890 | (6) | |||||||||||||||||||||||
Apptio, Inc. | First Lien Term Loan, LIBOR+7.25% cash due 1/10/2025 | 8.25 | % | Application Software | 4,615 | 4,554 | 4,529 | (4) | |||||||||||||||||||||
First Lien Revolver, LIBOR+7.25% cash due 1/10/2025 | Application Software | — | (5) | (7) | (4)(5) | ||||||||||||||||||||||||
Total Apptio, Inc. | 4,549 | 4,522 | |||||||||||||||||||||||||||
Aurora Lux Finco S.À.R.L. | First Lien Term Loan, LIBOR+5.75% cash due 12/24/2026 | 6.75 | % | Airport Services | 6,451 | 6,314 | 6,013 | (4) | |||||||||||||||||||||
Blackhawk Network Holdings, Inc. | First Lien Term Loan, LIBOR+3.00% cash due 6/15/2025 | 3.15 | % | Data Processing & Outsourced Services | 9,750 | 9,734 | 9,517 | ||||||||||||||||||||||
Boxer Parent Company Inc. | First Lien Term Loan, LIBOR+4.25% cash due 10/2/2025 | 4.40 | % | Systems Software | 7,513 | 7,430 | 7,497 | (4) | |||||||||||||||||||||
Brazos Delaware II, LLC | First Lien Term Loan, LIBOR+4.00% cash due 5/21/2025 | 4.15 | % | Oil & Gas Equipment & Services | 7,311 | 7,288 | 6,405 | ||||||||||||||||||||||
C5 Technology Holdings, LLC | 171 Common Units | Data Processing & Outsourced Services | — | — | (4) | ||||||||||||||||||||||||
7,193,539.63 Preferred Units | Data Processing & Outsourced Services | 7,194 | 5,683 | (4) | |||||||||||||||||||||||||
Total C5 Technology Holdings, LLC | 7,194 | 5,683 | |||||||||||||||||||||||||||
Carrols Restaurant Group, Inc. | First Lien Term Loan, LIBOR+6.25% cash due 4/30/2026 | 7.25 | % | Restaurants | 3,980 | 3,792 | 3,965 | ||||||||||||||||||||||
CITGO Petroleum Corp. | First Lien Term Loan, LIBOR+6.25% cash due 3/28/2024 | 7.25 | % | Oil & Gas Refining & Marketing | 7,165 | 7,094 | 7,140 | (4) | |||||||||||||||||||||
Clear Channel Outdoor Holdings, Inc. | First Lien Term Loan, LIBOR+3.50% cash due 8/21/2026 | 3.71 | % | Advertising | 330 | 291 | 318 | ||||||||||||||||||||||
Connect U.S. Finco LLC | First Lien Term Loan, LIBOR+4.50% cash due 12/11/2026 | 5.50 | % | Alternative Carriers | 7,418 | 7,252 | 7,462 | ||||||||||||||||||||||
Curium Bidco S.à.r.l. | First Lien Term Loan, LIBOR+3.75% cash due 7/9/2026 | 4.00 | % | Biotechnology | 5,925 | 5,881 | 5,890 | ||||||||||||||||||||||
Dcert Buyer, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 10/16/2026 | 4.15 | % | Internet Services & Infrastructure | 7,940 | 7,920 | 7,945 | ||||||||||||||||||||||
Dealer Tire, LLC | First Lien Term Loan, LIBOR+4.25% cash due 12/12/2025 | 4.40 | % | Distributors | 940 | 902 | 937 |
Portfolio Company | Industry | Investment Type | Maturity Date | Current Interest Rate(1)(4) | Cash Interest Rate | Principal | Cost | Fair Value (2) | |||||||||||||||
AdVenture Interactive, Corp. (3) | Advertising | 927 Common Stock Shares | $ | 1,088 | $ | 656 | |||||||||||||||||
Allied Universal Holdco LLC (3) | Security & alarm services | First Lien | 7/28/2022 | LIBOR+3.75% (1% floor) | 5.44 | % | $ | 6,965 | 7,019 | 6,920 | |||||||||||||
Ameritox Ltd. (3)(5) | Healthcare services | First Lien | 4/11/2021 | LIBOR+5% (1% floor) 3% PIK | 6.69 | % | 5,926 | 5,638 | 721 | ||||||||||||||
301,913.06 Class B Preferred Units | 302 | — | |||||||||||||||||||||
928.96 Class A Common Units | 5,474 | — | |||||||||||||||||||||
Total Ameritox Ltd. | 5,926 | 11,414 | 721 | ||||||||||||||||||||
Asset International, Inc. | Research & Consulting Services | First Lien | 12/29/2024 | LIBOR+4.5% (1% floor) | 6.19 | % | 7,000 | 6,860 | 6,860 | ||||||||||||||
BJ's Wholesale Club, Inc. | Hypermarkets & super centers | First Lien | 1/26/2024 | LIBOR+3.75% (1% floor) | 4.95 | % | 4,975 | 4,981 | 4,902 | ||||||||||||||
Chloe Ox Parent LLC | Healthcare services | First Lien | 12/14/2024 | LIBOR+5% (1% floor) | 6.64 | % | 10,000 | 9,900 | 10,037 | ||||||||||||||
Compuware Corporation | Internet software & services | First Lien B3 | 12/15/2021 | LIBOR+4.25% (1% floor) | 5.63 | % | 11,126 | 11,019 | 11,213 | ||||||||||||||
DFT Intermediate LLC | Specialized finance | First Lien | 3/1/2023 | LIBOR+5.5% (1% floor) | 6.85 | % | 10,669 | 10,433 | 10,592 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
eResearch Technology, Inc. | First Lien Term Loan, LIBOR+4.50% cash due 2/4/2027 | 5.50 | % | Application Software | $ | 7,463 | $ | 7,388 | $ | 7,411 | |||||||||||||||||||
Gigamon, Inc. | First Lien Term Loan, LIBOR+4.25% cash due 12/27/2024 | 5.25 | % | Systems Software | 7,762 | 7,717 | 7,708 | ||||||||||||||||||||||
Global Medical Response, Inc. | First Lien Term Loan, LIBOR+4.75% cash due 10/2/2025 | 5.75 | % | Health Care Services | 2,231 | 2,188 | 2,221 | ||||||||||||||||||||||
Guidehouse LLP | Second Lien Term Loan, LIBOR+8.00% cash due 5/1/2026 | 8.15 | % | Research & Consulting Services | 6,000 | 5,980 | 6,000 | (4) | |||||||||||||||||||||
Helios Software Holdings, Inc. | First Lien Term Loan, LIBOR+4.25% cash due 10/24/2025 | 4.52 | % | Systems Software | 3,960 | 3,920 | 3,946 | ||||||||||||||||||||||
Intelsat Jackson Holdings S.A. | First Lien Term Loan, PRIME+4.75% cash due 11/27/2023 | 8.00 | % | Alternative Carriers | 3,568 | 3,543 | 3,628 | ||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 7/13/2022 | 6.50 | % | Alternative Carriers | 1,943 | 1,762 | 1,988 | |||||||||||||||||||||||
Total Intelsat Jackson Holdings S.A. | 5,305 | 5,616 | |||||||||||||||||||||||||||
LogMeIn, Inc. | First Lien Term Loan, LIBOR+4.75% cash due 8/31/2027 | 4.90 | % | Application Software | 5,000 | 4,880 | 4,994 | ||||||||||||||||||||||
Maravai Intermediate Holdings, LLC | First Lien Term Loan, LIBOR+4.25% cash due 10/19/2027 | 5.25 | % | Biotechnology | 6,875 | 6,806 | 6,952 | ||||||||||||||||||||||
Mindbody, Inc. | First Lien Term Loan, LIBOR+7.00% cash 1.5% PIK due 2/14/2025 | 8.00 | % | Internet Services & Infrastructure | 4,564 | 4,502 | 4,181 | (4) | |||||||||||||||||||||
First Lien Revolver, LIBOR+8.00% cash due 2/14/2025 | Internet Services & Infrastructure | — | (7) | (40) | (4)(5) | ||||||||||||||||||||||||
Total Mindbody, Inc. | 4,495 | 4,141 | |||||||||||||||||||||||||||
MRI Software LLC | First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026 | 6.50 | % | Application Software | 3,863 | 3,829 | 3,854 | (4) | |||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 2/10/2026 | Application Software | — | (1) | — | (4)(5) | ||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.50% cash due 2/10/2026 | Application Software | — | (3) | (1) | (4)(5) | ||||||||||||||||||||||||
Total MRI Software LLC | 3,825 | 3,853 | |||||||||||||||||||||||||||
Navicure, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 10/22/2026 | 4.15 | % | Health Care Technology | 5,955 | 5,925 | 5,955 | ||||||||||||||||||||||
New IPT, Inc. | First Lien Term Loan, LIBOR+5.00% cash due 3/17/2021 | 6.00 | % | Oil & Gas Equipment & Services | 941 | 941 | 735 | (4) | |||||||||||||||||||||
21.876 Class A Common Units in New IPT Holdings, LLC | Oil & Gas Equipment & Services | — | — | (4) | |||||||||||||||||||||||||
Total New IPT, Inc. | 941 | 735 | |||||||||||||||||||||||||||
Northern Star Industries Inc. | First Lien Term Loan, LIBOR+4.75% cash due 3/31/2025 | 5.75 | % | Electrical Components & Equipment | 6,807 | 6,787 | 6,671 | ||||||||||||||||||||||
Northwest Fiber, LLC | First Lien Term Loan, LIBOR+5.50% cash due 4/30/2027 | 5.65 | % | Integrated Telecommunication Services | 2,394 | 2,311 | 2,406 | ||||||||||||||||||||||
Novetta Solutions, LLC | First Lien Term Loan, LIBOR+5.00% cash due 10/17/2022 | 6.00 | % | Application Software | 5,915 | 5,897 | 5,903 | ||||||||||||||||||||||
OEConnection LLC | First Lien Term Loan, LIBOR+4.00% cash due 9/25/2026 | 4.15 | % | Application Software | 7,879 | 7,843 | 7,820 | ||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+4.00% cash due 9/25/2026 | Application Software | — | — | — | (5) | ||||||||||||||||||||||||
Total OEConnection LLC | 7,843 | 7,820 | |||||||||||||||||||||||||||
Olaplex, Inc. | First Lien Term Loan, LIBOR+6.50% cash due 1/8/2026 | 7.50 | % | Personal Products | 6,395 | 6,298 | 6,395 | (4) | |||||||||||||||||||||
First Lien Revolver, LIBOR+6.50% cash due 1/8/2025 | Personal Products | — | (9) | — | (4)(5) | ||||||||||||||||||||||||
Total Olaplex, Inc. | 6,289 | 6,395 | |||||||||||||||||||||||||||
Park Place Technologies, LLC | First Lien Term Loan, LIBOR+5.00% cash due 11/10/2027 | 6.00 | % | Internet Services & Infrastructure | 5,000 | 4,804 | 4,817 | (4) | |||||||||||||||||||||
PetVet Care Centers, LLC | First Lien Term Loan, LIBOR+4.25% cash due 2/14/2025 | 5.25 | % | Specialized Consumer Services | 2,736 | 2,729 | 2,753 |
Portfolio Company | Industry | Investment Type | Maturity Date | Current Interest Rate(1)(4) | Cash Interest Rate | Principal | Cost | Fair Value (2) | |||||||||||||||
Digital River, Inc. | Internet software & services | First Lien | 2/12/2021 | LIBOR+6.5% (1% floor) | 8.08 | % | $ | 2,775 | $ | 2,786 | $ | 2,782 | |||||||||||
Dodge Data & Analytics LLC (3) | Data processing & outsourced services | First Lien | 10/31/2019 | LIBOR+8.75% (1% floor) | 10.13 | % | 9,199 | 9,228 | 9,116 | ||||||||||||||
DTZ U.S. Borrower, LLC (3) | Real estate services | First Lien | 11/4/2021 | LIBOR+3.25% (1% floor) | 4.94 | % | 6,946 | 6,978 | 6,867 | ||||||||||||||
Edge Fitness, LLC | Leisure facilities | First Lien | 12/31/2019 | LIBOR+7.75% (1% floor) | 9.05 | % | 10,600 | 10,601 | 10,600 | ||||||||||||||
EOS Fitness Opco Holdings, LLC (3) | Leisure facilities | First Lien | 12/30/2019 | LIBOR+8.75% (0.75% floor) | 10.12 | % | 18,251 | 18,078 | 18,433 | ||||||||||||||
Everi Payments Inc. | Casinos & gaming | First Lien | 5/9/2024 | LIBOR+4.5% (1% floor) | 4.98 | % | 4,975 | 4,952 | 5,032 | ||||||||||||||
Falmouth Group Holdings Corp. | Specialty chemicals | First Lien | 12/13/2021 | LIBOR+6.75% (1% floor) | 8.44 | % | 4,528 | 4,497 | 4,528 | ||||||||||||||
Garretson Resolution Group, Inc. | Diversified support services | First Lien | 5/22/2021 | LIBOR+6.5% (1% floor) | 8.19 | % | 5,797 | 5,780 | 5,432 | ||||||||||||||
Gigamon Inc. | Systems software | First Lien | 12/18/2024 | LIBOR+4.5% (1% floor) | 6.03 | % | 8,000 | 7,920 | 7,960 | ||||||||||||||
InMotion Entertainment Group, LLC (3) | Consumer electronics | First Lien | 10/1/2021 | LIBOR+7.25% (1.25% floor) | 8.95 | % | 8,750 | 8,769 | 8,750 | ||||||||||||||
First Lien B | 10/1/2021 | LIBOR+7.25% (1.25% floor) | 8.95 | % | 8,750 | 8,660 | 8,750 | ||||||||||||||||
Total InMotion Entertainment Group, LLC | 17,500 | 17,429 | 17,500 | ||||||||||||||||||||
Keypath Education, Inc. (3) | Advertising | First Lien | 4/3/2022 | LIBOR+7% (1.00% floor) | 8.69 | % | 2,040 | 2,039 | 2,040 | ||||||||||||||
927 shares Common Stock | 1,391 | 815 | |||||||||||||||||||||
2,040 | 3,430 | 2,855 | |||||||||||||||||||||
Lift Brands, Inc. (3) | Leisure facilities | First Lien | 12/23/2019 | LIBOR+7.5% (1% floor) | 9.19 | % | 18,149 | 18,132 | 18,149 | ||||||||||||||
Metamorph US 3, LLC (3)(5) | Internet software & services | First Lien | 12/1/2020 | LIBOR+5.5% (1% floor) 2% PIK | 7.07 | % | 9,942 | 9,232 | 3,775 | ||||||||||||||
Motion Recruitment Partners LLC | Human resources & employment services | First Lien | 2/13/2020 | LIBOR+6% (1% floor) | 7.57 | % | 4,298 | 4,255 | 4,303 | ||||||||||||||
NAVEX Global, Inc. | Internet software & services | First Lien | 11/19/2021 | LIBOR+4.75% (1% floor) | 5.82 | % | 5,944 | 5,911 | 5,974 | ||||||||||||||
New IPT, Inc. (3) | Oil & gas equipment & services | First Lien | 3/17/2021 | LIBOR+5% (1% floor) | 6.69 | % | 1,794 | 1,794 | 1,794 | ||||||||||||||
Second Lien | 9/17/2021 | LIBOR+5.1% (1% floor) | 6.79 | % | 1,094 | 1,094 | 1,094 | ||||||||||||||||
21.876 Class A Common Units | — | 420 | |||||||||||||||||||||
Total New IPT, Inc. | 2,888 | 2,888 | 3,308 | ||||||||||||||||||||
Novetta Solutions, LLC | Internet software & services | First Lien | 9/30/2022 | LIBOR+5% (1% floor) | 6.70 | % | 6,102 | 6,053 | 5,937 | ||||||||||||||
OmniSYS Acquisition Corporation (3) | Diversified support services | First Lien | 11/21/2018 | LIBOR+7.5% (1% floor) | 9.19 | % | 10,896 | 10,899 | 10,873 | ||||||||||||||
Refac Optical Group (3) | Specialty stores | First Lien A | 9/30/2018 | LIBOR+8% | 9.56 | % | 4,111 | 4,098 | 4,111 | ||||||||||||||
Salient CRGT, Inc. (3) | IT consulting & other services | First Lien | 2/28/2022 | LIBOR+5.75% (1% floor) | 7.32 | % | 2,405 | 2,364 | 2,426 | ||||||||||||||
Scientific Games International, Inc. (3) | Casinos & gaming | First Lien | 8/14/2024 | LIBOR+3.25% | 4.67 | % | 6,615 | 6,583 | 6,677 | ||||||||||||||
SHO Holding I Corporation | Footwear | First Lien | 10/27/2022 | LIBOR+5% (1% floor) | 6.42 | % | 8,573 | 8,545 | 8,273 | ||||||||||||||
TravelClick, Inc. (3) | Internet software & services | Second Lien | 11/6/2021 | LIBOR+7.75% (1% floor) | 9.32 | % | 5,127 | 5,127 | 5,153 | ||||||||||||||
TV Borrower US, LLC | Integrated telecommunications services | First Lien | 2/22/2024 | LIBOR+4.75% (1% floor) | 6.44 | % | 2,034 | 2,025 | 2,045 | ||||||||||||||
Valet Merger Sub, Inc. (3) | Environmental & facilities services | First Lien | 9/24/2021 | LIBOR+7% (1% floor) | 8.57 | % | 12,965 | 12,838 | 12,965 | ||||||||||||||
Vubiquity, Inc. | Application software | First Lien | 8/12/2021 | LIBOR+5.5% (1% floor) | 7.19 | % | 2,646 | 2,630 | 2,626 | ||||||||||||||
$ | 249,967 | $ | 255,973 | $ | 239,601 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
PG&E Corporation | First Lien Term Loan, LIBOR+4.50% cash due 6/23/2025 | 5.50 | % | Electric Utilities | $ | 5,970 | $ | 5,889 | $ | 6,051 | |||||||||||||||||||
Planview Parent, Inc. | Second Lien Term Loan, LIBOR+7.25% cash due 12/18/2028 | 8.00 | % | Application Software | 4,503 | 4,435 | 4,503 | (4) | |||||||||||||||||||||
Recorded Books Inc. | First Lien Term Loan, LIBOR+4.25% cash due 8/29/2025 | 4.75 | % | Publishing | 6,000 | 5,940 | 6,025 | ||||||||||||||||||||||
RS Ivy Holdco, Inc. | First Lien Term Loan, LIBOR+5.50% cash due 12/23/2027 | 6.50 | % | Oil & Gas Exploration & Production | 7,000 | 6,895 | 6,965 | ||||||||||||||||||||||
Sabert Corporation | First Lien Term Loan, LIBOR+4.50% cash due 12/10/2026 | 5.50 | % | Metal & Glass Containers | 2,742 | 2,714 | 2,743 | ||||||||||||||||||||||
Salient CRGT, Inc. | First Lien Term Loan, LIBOR+6.50% cash due 2/28/2022 | 7.50 | % | Aerospace & Defense | 2,080 | 2,070 | 2,002 | (4) | |||||||||||||||||||||
SHO Holding I Corporation | First Lien Term Loan, LIBOR+5.25% cash due 4/27/2024 | 6.25 | % | Footwear | 8,445 | 8,430 | 7,347 | ||||||||||||||||||||||
Signify Health, LLC | First Lien Term Loan, LIBOR+4.50% cash due 12/23/2024 | 5.50 | % | Health Care Services | 9,725 | 9,669 | 9,433 | ||||||||||||||||||||||
Sirva Worldwide, Inc. | First Lien Term Loan, LIBOR+5.50% cash due 8/4/2025 | 5.65 | % | Diversified Support Services | 4,750 | 4,679 | 4,352 | ||||||||||||||||||||||
Star US Bidco LLC | First Lien Term Loan, LIBOR+4.25% cash due 3/17/2027 | 5.25 | % | Industrial Machinery | 3,709 | 3,529 | 3,649 | ||||||||||||||||||||||
Sunshine Luxembourg VII SARL | First Lien Term Loan, LIBOR+4.00% cash due 10/1/2026 | 5.00 | % | Personal Products | 7,920 | 7,880 | 7,969 | ||||||||||||||||||||||
Supermoose Borrower, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025 | 4.00 | % | Application Software | 4,876 | 4,580 | 4,574 | (4) | |||||||||||||||||||||
Surgery Center Holdings, Inc. | First Lien Term Loan, LIBOR+3.25% cash due 9/3/2024 | 4.25 | % | Health Care Facilities | 4,949 | 4,931 | 4,876 | ||||||||||||||||||||||
Veritas US Inc. | First Lien Term Loan, LIBOR+5.50% cash due 9/1/2025 | 6.50 | % | Application Software | 6,484 | 6,362 | 6,475 | ||||||||||||||||||||||
Verscend Holding Corp. | First Lien Term Loan, LIBOR+4.50% cash due 8/27/2025 | 4.65 | % | Health Care Technology | 4,101 | 4,070 | 4,107 | (4) | |||||||||||||||||||||
Windstream Services II, LLC | First Lien Term Loan, LIBOR+6.25% cash due 9/21/2027 | 7.25 | % | Integrated Telecommunication Services | 7,960 | 7,654 | 7,808 | (4) | |||||||||||||||||||||
WP CPP Holdings, LLC | Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026 | 8.75 | % | Aerospace & Defense | 6,000 | 5,959 | 5,085 | (4) | |||||||||||||||||||||
$ | 313,978 | $ | 317,432 | $ | 313,261 |
Portfolio Company | Industry | Investment Type | Maturity Date | Current Interest Rate(1)(4) | Cash Interest Rate | Principal | Cost | Fair Value (2) | |||||||||||||||
AdVenture Interactive, Corp. (3) | Advertising | 927 Common Stock Shares | $ | 1,088 | $ | 1,412 | |||||||||||||||||
Allied Universal Holdco LLC (3) | Security & alarm services | First Lien | 7/28/2022 | LIBOR+3.75% (1% floor) | 5.08 | % | $ | 6,982 | 7,040 | 6,976 | |||||||||||||
Ameritox Ltd. (3)(5) | Healthcare services | First Lien | 4/11/2021 | LIBOR+5% (1% floor) 3% PIK | 6.33 | % | 5,759 | 5,638 | 668 | ||||||||||||||
301,913.06 Class B Preferred Units | 302 | — | |||||||||||||||||||||
928.96 Class A Common Units | 5,474 | — | |||||||||||||||||||||
Total Ameritox, Ltd. | 5,759 | 11,414 | 668 | ||||||||||||||||||||
BeyondTrust Software, Inc. (3) | Application software | First Lien | 9/25/2019 | LIBOR+7% (1% floor) | 8.33 | % | 15,330 | 15,231 | 15,329 | ||||||||||||||
BJ's Wholesale Club, Inc. (3) | Hypermarkets & super centers | First Lien | 1/26/2024 | LIBOR+3.75% (1% floor) | 4.99 | % | 4,988 | 4,993 | 4,793 | ||||||||||||||
Compuware Corporation | Internet software & services | First Lien B3 | 12/15/2021 | LIBOR+4.25% (1% floor) | 5.49 | % | 11,154 | 11,041 | 11,293 | ||||||||||||||
DFT Intermediate LLC (3) | Specialized finance | First Lien | 3/1/2023 | LIBOR+5.5% (1% floor) | 6.74 | % | 10,723 | 10,474 | 10,652 | ||||||||||||||
Digital River, Inc. | Internet software & services | First Lien | 2/12/2021 | LIBOR+6.5% (1% floor) | 7.82 | % | 4,524 | 4,541 | 4,546 | ||||||||||||||
Dodge Data & Analytics LLC (3) | Data processing & outsourced services | First Lien | 10/31/2019 | LIBOR+8.75% (1% floor) | 10.13 | % | 9,339 | 9,372 | 8,744 | ||||||||||||||
DTZ U.S. Borrower, LLC (3) | Real estate services | First Lien | 11/4/2021 | LIBOR+3.25% (1% floor) | 4.57 | % | 6,964 | 6,998 | 6,990 | ||||||||||||||
Edge Fitness, LLC | Leisure facilities | First Lien | 12/31/2019 | LIBOR+7.75% (1% floor) | 9.05 | % | 10,600 | 10,602 | 10,600 | ||||||||||||||
EOS Fitness Opco Holdings, LLC (3) | Leisure facilities | First Lien | 12/30/2019 | LIBOR+8.75% (0.75% floor) | 9.99 | % | 18,374 | 18,182 | 18,557 | ||||||||||||||
Everi Payments Inc.(3) | Casinos & gaming | First Lien | 5/9/2024 | LIBOR+4.5% (1% floor) | 5.74 | % | 4,988 | 4,964 | 5,039 | ||||||||||||||
Falmouth Group Holdings Corp. | Specialty chemicals | First Lien | 12/13/2021 | LIBOR+6.75% (1% floor) | 8.08 | % | 4,610 | 4,578 | 4,610 | ||||||||||||||
Garretson Resolution Group, Inc. | Diversified support services | First Lien | 5/22/2021 | LIBOR+6.5% (1% floor) | 7.83 | % | 5,836 | 5,818 | 5,766 | ||||||||||||||
InMotion Entertainment Group, LLC (3) | Consumer electronics | First Lien | 10/1/2018 | LIBOR+7.75% (1.25% floor) | 9.09 | % | 8,875 | 8,884 | 8,875 | ||||||||||||||
First Lien B | 10/1/2018 | LIBOR+7.75% (1.25% floor) | 9.09 | % | 8,875 | 8,828 | 8,871 | ||||||||||||||||
Total InMotion Entertainment Group, LLC | 17,750 | 17,712 | 17,746 | ||||||||||||||||||||
Keypath Education, Inc. (3) | Advertising | First Lien | 4/3/2022 | LIBOR+7% (1.00% floor) | 8.33 | % | 2,040 | 2,040 | 2,039 | ||||||||||||||
927 shares Common Stock | 1,391 | 809 | |||||||||||||||||||||
2,040 | 3,431 | 2,848 | |||||||||||||||||||||
Lift Brands, Inc. (3) | Leisure facilities | First Lien | 12/23/2019 | LIBOR+7.5% (1% floor) | 8.83 | % | 18,276 | 18,257 | 18,275 | ||||||||||||||
Metamorph US 3, LLC (3)(5) | Internet software & services | First Lien | 12/1/2020 | LIBOR+5.5% (1% floor) 2% PIK | 6.74 | % | 9,969 | 9,481 | 3,786 | ||||||||||||||
Motion Recruitment Partners LLC | Human resources & employment services | First Lien | 2/13/2020 | LIBOR+6% (1% floor) | 7.24 | % | 4,330 | 4,281 | 4,330 | ||||||||||||||
NAVEX Global, Inc. | Internet software & services | First Lien | 11/19/2021 | LIBOR+4.75% (1% floor) | 5.49 | % | 5,959 | 5,925 | 5,982 | ||||||||||||||
New IPT, Inc. (3) | Oil & gas equipment & services | First Lien | 3/17/2021 | LIBOR+5% (1% floor) | 6.33 | % | 1,794 | 1,794 | 1,794 | ||||||||||||||
Second Lien | 9/17/2021 | LIBOR+5.1% (1% floor) | 6.43 | % | 1,094 | 1,094 | 1,094 | ||||||||||||||||
21.876 Class A Common Units | — | 321 | |||||||||||||||||||||
Total New IPT, Inc. | 2,888 | 2,888 | 3,209 |
Portfolio Company | Industry | Investment Type | Maturity Date | Current Interest Rate(1)(4) | Cash Interest Rate | Principal | Cost | Fair Value (2) | |||||||||||||||
Novetta Solutions, LLC | Internet software & services | First Lien | 9/30/2022 | LIBOR+5% (1% floor) | 6.34 | % | $ | 6,118 | $ | 6,066 | $ | 5,950 | |||||||||||
OmniSYS Acquisition Corporation (3) | Diversified support services | First Lien | 11/21/2018 | LIBOR+7.5% (1% floor) | 8.83 | % | 10,896 | 10,900 | 10,833 | ||||||||||||||
Refac Optical Group (3) | Specialty stores | First Lien A | 9/30/2018 | LIBOR+8% | 9.23 | % | 4,623 | 4,605 | 4,623 | ||||||||||||||
Salient CRGT, Inc. (3) | IT consulting & other services | First Lien | 2/28/2022 | LIBOR+5.75% (1% floor) | 6.99 | % | 2,457 | 2,412 | 2,440 | ||||||||||||||
Scientific Games International, Inc. (3) | Casinos & gaming | First Lien | 8/14/2024 | LIBOR+3.25% (1% floor) | 4.58 | % | 6,632 | 6,598 | 6,651 | ||||||||||||||
SHO Holding I Corporation | Footwear | First Lien | 10/27/2022 | LIBOR+5% (1% floor) | 6.24 | % | 8,594 | 8,566 | 8,487 | ||||||||||||||
TravelClick, Inc. (3) | Internet software & services | Second Lien | 11/6/2021 | LIBOR+7.75% (1% floor) | 8.99 | % | 5,127 | 5,127 | 5,153 | ||||||||||||||
TV Borrower US, LLC | Integrated telecommunications services | First Lien | 2/22/2024 | LIBOR+4.75% (1% floor) | 6.08 | % | 3,582 | 3,565 | 3,607 | ||||||||||||||
Valet Merger Sub, Inc. (3) | Environmental & facilities services | First Lien | 9/24/2021 | LIBOR+7% (1% floor) | 8.24 | % | 12,998 | 12,862 | 12,998 | ||||||||||||||
Vubiquity, Inc. | Application software | First Lien | 8/12/2021 | LIBOR+5.5% (1% floor) | 6.83 | % | 2,653 | 2,636 | 2,633 | ||||||||||||||
$ | 245,063 | $ | 251,648 | $ | 235,526 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
Access CIG, LLC | First Lien Term Loan, LIBOR+3.75% cash due 2/27/2025 | 3.91 | % | Diversified Support Services | $ | 9,206 | $ | 9,170 | $ | 9,029 | |||||||||||||||||||
AdVenture Interactive, Corp. | 927 shares of common stock | Advertising | 1,390 | 1,373 | (4) | ||||||||||||||||||||||||
AI Ladder (Luxembourg) Subco S.a.r.l. | First Lien Term Loan, LIBOR+4.50% cash due 7/9/2025 | 4.65 | % | Electrical Components & Equipment | 6,038 | 5,914 | 5,781 | (4) | |||||||||||||||||||||
Airbnb, Inc. | First Lien Term Loan, LIBOR+7.50% cash due 4/17/2025 | 8.50 | % | Hotels, Resorts & Cruise Lines | 3,051 | 2,981 | 3,311 | (4) | |||||||||||||||||||||
Altice France S.A. | First Lien Term Loan, LIBOR+4.00% cash due 8/14/2026 | 4.15 | % | Integrated Telecommunication Services | 4,643 | 4,450 | 4,527 | ||||||||||||||||||||||
Alvogen Pharma US, Inc. | First Lien Term Loan, LIBOR+5.25% cash due 12/31/2023 | 6.25 | % | Pharmaceuticals | 9,879 | 9,623 | 9,566 | ||||||||||||||||||||||
Amplify Finco Pty Ltd. | First Lien Term Loan, LIBOR+4.00% cash due 11/26/2026 | 4.75 | % | Movies & Entertainment | 7,960 | 7,880 | 6,846 | (4) | |||||||||||||||||||||
Anastasia Parent, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/11/2025 | Personal Products | 2,828 | 2,282 | 1,248 | (6) | |||||||||||||||||||||||
Apptio, Inc. | First Lien Term Loan, LIBOR+7.25% cash due 1/10/2025 | 8.25 | % | Application Software | 4,615 | 4,550 | 4,526 | (4) | |||||||||||||||||||||
First Lien Revolver, LIBOR+7.25% cash due 1/10/2025 | Application Software | — | (5) | (8) | (4)(5) | ||||||||||||||||||||||||
Total Apptio, Inc. | 4,545 | 4,518 | |||||||||||||||||||||||||||
Aurora Lux Finco S.À.R.L. | First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026 | 7.00 | % | Airport Services | 6,468 | 6,324 | 6,015 | (4) | |||||||||||||||||||||
Blackhawk Network Holdings, Inc. | First Lien Term Loan, LIBOR+3.00% cash due 6/15/2025 | 3.15 | % | Data Processing & Outsourced Services | 9,775 | 9,758 | 9,251 | ||||||||||||||||||||||
Boxer Parent Company Inc. | First Lien Term Loan, LIBOR+4.25% cash due 10/2/2025 | 4.40 | % | Systems Software | 7,532 | 7,448 | 7,331 | (4) | |||||||||||||||||||||
Brazos Delaware II, LLC | First Lien Term Loan, LIBOR+4.00% cash due 5/21/2025 | 4.16 | % | Oil & Gas Equipment & Services | 7,331 | 7,306 | 5,600 | ||||||||||||||||||||||
C5 Technology Holdings, LLC | 171 Common Units | Data Processing & Outsourced Services | — | — | (4) | ||||||||||||||||||||||||
7,193,539.63 Preferred Units | Data Processing & Outsourced Services | 7,194 | 5,683 | (4) | |||||||||||||||||||||||||
Total C5 Technology Holdings, LLC | 7,194 | 5,683 | |||||||||||||||||||||||||||
Carrols Restaurant Group, Inc. | First Lien Term Loan, LIBOR+6.25% cash due 4/30/2026 | 7.25 | % | Restaurants | 3,990 | 3,792 | 3,960 | ||||||||||||||||||||||
CITGO Petroleum Corp. | First Lien Term Loan, LIBOR+5.00% cash due 3/28/2024 | 6.00 | % | Oil & Gas Refining & Marketing | 7,184 | 7,112 | 6,842 | (4) | |||||||||||||||||||||
Clear Channel Outdoor Holdings, Inc. | First Lien Term Loan, LIBOR+3.50% cash due 8/21/2026 | 3.76 | % | Advertising | 331 | 290 | 302 | ||||||||||||||||||||||
Connect U.S. Finco LLC | First Lien Term Loan, LIBOR+4.50% cash due 12/11/2026 | 5.50 | % | Alternative Carriers | 7,437 | 7,262 | 7,228 | ||||||||||||||||||||||
Curium Bidco S.à.r.l. | First Lien Term Loan, LIBOR+3.75% cash due 7/9/2026 | 3.97 | % | Biotechnology | 5,940 | 5,895 | 5,895 | ||||||||||||||||||||||
Dcert Buyer, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 10/16/2026 | 4.15 | % | Internet Services & Infrastructure | 7,960 | 7,940 | 7,879 | ||||||||||||||||||||||
Dealer Tire, LLC | First Lien Term Loan, LIBOR+4.25% cash due 12/12/2025 | 4.40 | % | Distributors | 943 | 902 | 924 | ||||||||||||||||||||||
eResearch Technology, Inc. | First Lien Term Loan, LIBOR+4.50% cash due 2/4/2027 | 5.50 | % | Application Software | 7,481 | 7,406 | 7,461 | ||||||||||||||||||||||
Frontier Communications Corporation | First Lien Term Loan, PRIME+2.75% cash due 6/15/2024 | 6.00 | % | Integrated Telecommunication Services | 3,939 | 3,901 | 3,887 | ||||||||||||||||||||||
Gigamon, Inc. | First Lien Term Loan, LIBOR+4.25% cash due 12/27/2024 | 5.25 | % | Systems Software | 7,781 | 7,734 | 7,684 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
Global Medical Response, Inc. | First Lien Term Loan, LIBOR+4.75% cash due 10/2/2025 | 5.75 | % | Health Care Services | $ | 2,231 | $ | 2,187 | $ | 2,185 | |||||||||||||||||||
Guidehouse LLP | Second Lien Term Loan, LIBOR+8.00% cash due 5/1/2026 | 8.15 | % | Research & Consulting Services | 6,000 | 5,979 | 5,790 | (4) | |||||||||||||||||||||
Helios Software Holdings, Inc. | First Lien Term Loan, LIBOR+4.25% cash due 10/24/2025 | 4.52 | % | Systems Software | 3,970 | 3,930 | 3,923 | ||||||||||||||||||||||
Intelsat Jackson Holdings S.A. | First Lien Term Loan, PRIME+4.75% cash due 11/27/2023 | 8.00 | % | Alternative Carriers | 3,568 | 3,541 | 3,598 | ||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 7/13/2022 | 6.50 | % | Alternative Carriers | 971 | 801 | 1,011 | (5) | ||||||||||||||||||||||
Total Intelsat Jackson Holdings S.A. | 4,342 | 4,609 | |||||||||||||||||||||||||||
KIK Custom Products Inc. | First Lien Term Loan, LIBOR+4.00% cash due 5/15/2023 | 5.00 | % | Household Products | 5,322 | 5,308 | 5,302 | ||||||||||||||||||||||
LogMeIn, Inc. | First Lien Term Loan, LIBOR+4.75% cash due 8/31/2027 | 4.91 | % | Application Software | 5,000 | 4,876 | 4,842 | ||||||||||||||||||||||
Mindbody, Inc. | First Lien Term Loan, LIBOR+7.00% cash 1.5% PIK due 2/14/2025 | 8.00 | % | Internet Services & Infrastructure | 4,546 | 4,481 | 4,192 | (4) | |||||||||||||||||||||
First Lien Revolver, LIBOR+8.00% cash due 2/14/2025 | Internet Services & Infrastructure | — | (7) | (38) | (4)(5) | ||||||||||||||||||||||||
Total Mindbody, Inc. | 4,474 | 4,154 | |||||||||||||||||||||||||||
MRI Software LLC | First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026 | 6.50 | % | Application Software | 3,830 | 3,795 | 3,737 | (4) | |||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 2/10/2026 | Application Software | — | (1) | (4) | (4)(5) | ||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.50% cash due 2/10/2026 | Application Software | — | (3) | (8) | (4)(5) | ||||||||||||||||||||||||
Total MRI Software LLC | 3,791 | 3,725 | |||||||||||||||||||||||||||
Navicure, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 10/22/2026 | 4.15 | % | Health Care Technology | 5,970 | 5,940 | 5,849 | ||||||||||||||||||||||
New IPT, Inc. | First Lien Term Loan, LIBOR+5.00% cash due 3/17/2021 | 6.00 | % | Oil & Gas Equipment & Services | 1,006 | 1,006 | 786 | (4) | |||||||||||||||||||||
21.876 Class A Common Units in New IPT Holdings, LLC | Oil & Gas Equipment & Services | — | — | (4) | |||||||||||||||||||||||||
Total New IPT, Inc. | 1,006 | 786 | |||||||||||||||||||||||||||
Northern Star Industries Inc. | First Lien Term Loan, LIBOR+4.75% cash due 3/31/2025 | 5.75 | % | Electrical Components & Equipment | 6,825 | 6,803 | 6,518 | ||||||||||||||||||||||
Northwest Fiber, LLC | First Lien Term Loan, LIBOR+5.50% cash due 4/30/2027 | 5.66 | % | Integrated Telecommunication Services | 2,400 | 2,314 | 2,403 | ||||||||||||||||||||||
Novetta Solutions, LLC | First Lien Term Loan, LIBOR+5.00% cash due 10/17/2022 | 6.00 | % | Application Software | 5,931 | 5,909 | 5,827 | ||||||||||||||||||||||
OEConnection LLC | First Lien Term Loan, LIBOR+4.00% cash due 9/25/2026 | 4.15 | % | Application Software | 7,455 | 7,418 | 7,371 | ||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+4.00% cash due 9/25/2026 | Application Software | — | (2) | (5) | (5) | ||||||||||||||||||||||||
Total OEConnection LLC | 7,416 | 7,366 | |||||||||||||||||||||||||||
Olaplex, Inc. | First Lien Term Loan, LIBOR+6.50% cash due 1/8/2026 | 7.50 | % | Personal Products | 4,938 | 4,851 | 4,938 | (4) | |||||||||||||||||||||
First Lien Revolver, LIBOR+6.50% cash due 1/8/2025 | 7.50 | % | Personal Products | 270 | 261 | 270 | (4)(5) | ||||||||||||||||||||||
Total Olaplex, Inc. | 5,112 | 5,208 | |||||||||||||||||||||||||||
PetVet Care Centers, LLC | First Lien Term Loan, LIBOR+4.25% cash due 2/14/2025 | 5.25 | % | Specialized Consumer Services | 2,743 | 2,736 | 2,747 | ||||||||||||||||||||||
PG&E Corporation | First Lien Term Loan, LIBOR+4.50% cash due 6/23/2025 | 5.50 | % | Electric Utilities | 5,985 | 5,899 | 5,875 | ||||||||||||||||||||||
Recorded Books, Inc. | First Lien Term Loan, LIBOR+4.25% cash due 8/31/2025 | 4.75 | % | Publishing | 6,000 | 5,940 | 5,940 | ||||||||||||||||||||||
Sabert Corporation | First Lien Term Loan, LIBOR+4.50% cash due 12/10/2026 | 5.50 | % | Metal & Glass Containers | 2,828 | 2,800 | 2,791 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
Salient CRGT, Inc. | First Lien Term Loan, LIBOR+6.50% cash due 2/28/2022 | 7.50 | % | Aerospace & Defense | $ | 2,111 | $ | 2,099 | $ | 1,963 | (4) | ||||||||||||||||||
SHO Holding I Corporation | First Lien Term Loan, LIBOR+3.00% cash PIK 2.25% due 4/27/2024 | 4.00 | % | Footwear | 8,396 | 8,380 | 5,898 | ||||||||||||||||||||||
Signify Health, LLC | First Lien Term Loan, LIBOR+4.50% cash due 12/23/2024 | 5.50 | % | Health Care Services | 9,750 | 9,690 | 9,409 | ||||||||||||||||||||||
Sirva Worldwide, Inc. | First Lien Term Loan, LIBOR+5.50% cash due 8/4/2025 | 5.65 | % | Diversified Support Services | 4,781 | 4,709 | 3,992 | ||||||||||||||||||||||
Star US Bidco LLC | First Lien Term Loan, LIBOR+4.25% cash due 3/17/2027 | 5.25 | % | Industrial Machinery | 3,718 | 3,532 | 3,551 | ||||||||||||||||||||||
Sunshine Luxembourg VII SARL | First Lien Term Loan, LIBOR+4.25% cash due 10/1/2026 | 5.25 | % | Personal Products | 7,940 | 7,900 | 7,911 | ||||||||||||||||||||||
Supermoose Borrower, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025 | 3.90 | % | Application Software | 4,888 | 4,575 | 4,407 | (4) | |||||||||||||||||||||
Surgery Center Holdings, Inc. | First Lien Term Loan, LIBOR+3.25% cash due 9/3/2024 | 4.25 | % | Health Care Facilities | 4,962 | 4,943 | 4,691 | (4) | |||||||||||||||||||||
Uber Technologies, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 4/4/2025 | 5.00 | % | Application Software | 2,997 | 2,959 | 2,980 | ||||||||||||||||||||||
UFC Holdings, LLC | First Lien Term Loan, LIBOR+3.25% cash due 4/29/2026 | 4.25 | % | Movies & Entertainment | 2,856 | 2,816 | 2,814 | ||||||||||||||||||||||
Veritas US Inc. | First Lien Term Loan, LIBOR+5.50% cash due 9/1/2025 | 6.50 | % | Application Software | 6,500 | 6,371 | 6,375 | ||||||||||||||||||||||
Verscend Holding Corp. | First Lien Term Loan, LIBOR+4.50% cash due 8/27/2025 | 4.65 | % | Health Care Technology | 4,112 | 4,080 | 4,084 | (4) | |||||||||||||||||||||
VM Consolidated, Inc. | First Lien Term Loan, LIBOR+3.25% cash due 2/28/2025 | 3.40 | % | Data Processing & Outsourced Services | 10,487 | 10,495 | 10,291 | ||||||||||||||||||||||
Windstream Services II, LLC | First Lien Term Loan, LIBOR+6.25% cash due 9/21/2027 | 7.25 | % | Integrated Telecommunication Services | 7,980 | 7,662 | 7,744 | (4) | |||||||||||||||||||||
WP CPP Holdings, LLC | Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026 | 8.75 | % | Aerospace & Defense | 6,000 | 5,956 | 4,680 | (4) | |||||||||||||||||||||
$ | 307,579 | $ | 311,428 | $ | 298,771 |
December 31, 2020 | September 30, 2020 | |||||||||||||
Selected Balance Sheet Information: | ||||||||||||||
Investments at fair value (cost December 31, 2020: $317,432; cost September 30, 2020: $311,428) | $ | 313,261 | $ | 298,771 | ||||||||||
Cash and cash equivalents | 20,575 | 5,389 | ||||||||||||
Restricted cash | 4,262 | 4,211 | ||||||||||||
Other assets | 3,147 | 5,093 | ||||||||||||
Total assets | $ | 341,245 | $ | 313,464 | ||||||||||
Senior credit facility payable | $ | 175,410 | $ | 167,910 | ||||||||||
Debt securities payable at fair value (proceeds December 31, 2020: $110,000; proceeds September 30, 2020: $110,000) | 110,000 | 110,000 | ||||||||||||
Other liabilities | 22,390 | 11,336 | ||||||||||||
Total liabilities | 307,800 | 289,246 | ||||||||||||
Members' equity | 33,445 | 24,218 | ||||||||||||
Total liabilities and members' equity | $ | 341,245 | $ | 313,464 |
December 31, 2017 | September 30, 2017 | |||||||
Selected Balance Sheet Information: | ||||||||
Investments in loans at fair value (cost December 31, 2017: $255,973; cost September 30, 2017: $251,648) | $ | 239,601 | $ | 235,526 | ||||
Receivables from secured financing arrangements at fair value (cost December 31, 2017: $9,787; cost September 30, 2017: $9,783) | 8,334 | 8,305 | ||||||
Cash and cash equivalents | 28,386 | 24,389 | ||||||
Restricted cash | 4,100 | 5,097 | ||||||
Other assets | 4,117 | 3,485 | ||||||
Total assets | $ | 284,538 | $ | 276,802 | ||||
Senior credit facilities payable | $ | 105,053 | $ | 113,053 | ||||
Debt securities payable at fair value (proceeds December 31, 2017: $146,572; proceeds September 30, 2017: $147,052) | 146,572 | 147,052 | ||||||
Other liabilities | 27,407 | 10,383 | ||||||
Total liabilities | 279,032 | 270,488 | ||||||
Members' equity | 5,506 | 6,314 | ||||||
Total liabilities and members' equity | $ | 284,538 | $ | 276,802 |
Three months ended December 31, 2017 | Three months ended December 31, 2016 | Three months ended December 31, 2020 | Three months ended December 31, 2019 | |||||||||||||||||||
Selected Statements of Operations Information: | Selected Statements of Operations Information: | |||||||||||||||||||||
Interest income | $ | 4,728 | $ | 6,759 | Interest income | $ | 4,475 | $ | 5,393 | |||||||||||||
Other income | — | 308 | Other income | 54 | 6 | |||||||||||||||||
Total investment income | 4,728 | 7,067 | Total investment income | 4,529 | 5,399 | |||||||||||||||||
Interest expense | 5,145 | 6,014 | Interest expense | 3,581 | 4,641 | |||||||||||||||||
Other expenses | 161 | 408 | Other expenses | 62 | 67 | |||||||||||||||||
Total expenses (1) | 5,306 | 6,422 | Total expenses (1) | 3,643 | 4,708 | |||||||||||||||||
Net unrealized depreciation | (226 | ) | (22,473 | ) | ||||||||||||||||||
Net realized gain (loss) | (4 | ) | 22,708 | |||||||||||||||||||
Net unrealized appreciation (depreciation) | Net unrealized appreciation (depreciation) | 8,486 | 2,941 | |||||||||||||||||||
Net realized gains (losses) | Net realized gains (losses) | (144) | (1,152) | |||||||||||||||||||
Net income (loss) | $ | (808 | ) | $ | 880 | Net income (loss) | $ | 9,228 | $ | 2,480 |
Date Declared | Record Date | Payment Date | Amount per Share | Cash Distribution | DRIP Shares Issued (1) | DRIP Shares Value | |||||||||
August 3, 2016 | October 14, 2016 | October 31, 2016 | $ | 0.06 | $ 8.2 million | 81,391 | $ 0.4 million | ||||||||
August 3, 2016 | November 15, 2016 | November 30, 2016 | 0.06 | 8.2 million | 80,962 | 0.4 million | |||||||||
October 18, 2016 | December 15, 2016 | December 30, 2016 | 0.06 | 7.7 million | 70,316 | 0.4 million | |||||||||
October 18, 2016 | January 13, 2017 | January 31, 2017 | 0.06 | 8.0 million | 73,940 | 0.4 million | |||||||||
October 18, 2016 | February 15, 2017 | February 28, 2017 | 0.06 | 8.0 million | 86,120 | 0.4 million | |||||||||
February 6, 2017 | March 15, 2017 | March 31, 2017 | 0.02 | 2.7 million | 27,891 | 0.1 million | |||||||||
February 6, 2017 | June 15, 2017 | June 30, 2017 | 0.02 | 2.7 million | 20,502 | 0.1 million | |||||||||
February 6, 2017 | September 15, 2017 | September 29, 2017 | 0.125 | 17.0 million | 118,992 | 0.7 million | |||||||||
August 7, 2017 | December 15, 2017 | December 29, 2017 | 0.125 | 17.3 million | 58,456 | 0.3 million |
Date Declared | Record Date | Payment Date | Amount per Share | Cash Distribution | DRIP Shares Issued (1) | DRIP Shares Value | ||||||||||||||||||||||||||||||||||||||
November 19, 2018 | December 17, 2018 | December 28, 2018 | $ | 0.095 | $ 13.0 million | 87,429 | $ 0.4 million | |||||||||||||||||||||||||||||||||||||
February 1, 2019 | March 15, 2019 | March 29, 2019 | 0.095 | 13.1 million | 59,603 | 0.3 million | ||||||||||||||||||||||||||||||||||||||
May 3, 2019 | June 14, 2019 | June 28, 2019 | 0.095 | 13.1 million | 61,093 | 0.3 million | ||||||||||||||||||||||||||||||||||||||
August 2, 2019 | September 13, 2019 | September 30, 2019 | 0.095 | 13.1 million | 61,205 | 0.3 million | ||||||||||||||||||||||||||||||||||||||
November 12, 2019 | December 13, 2019 | December 31, 2019 | 0.095 | 12.9 million | 87,747 | 0.5 million | ||||||||||||||||||||||||||||||||||||||
January 31, 2020 | March 13, 2020 | March 31, 2020 | 0.095 | 12.9 million | 157,523 | 0.5 million | ||||||||||||||||||||||||||||||||||||||
April 30, 2020 | June 15, 2020 | June 30, 2020 | 0.095 | 13.0 million | 87,351 | 0.4 million | ||||||||||||||||||||||||||||||||||||||
July 31, 2020 | September 15, 2020 | September 30, 2020 | 0.105 | 14.3 million | 102,404 | 0.5 million | ||||||||||||||||||||||||||||||||||||||
November 13, 2020 | December 15, 2020 | December 31, 2020 | 0.11 | 15.0 million | 93,964 | 0.5 million |
(1)Shares were purchased on |
Financial Covenant | Description | Target Value | September 30, 2020 Reported Value (1) | |||||||||||||||||
Minimum shareholders' equity | Net assets shall not be less than the | $550 million | $915 million | |||||||||||||||||
Asset coverage ratio | Asset coverage ratio shall not be less than | 1.50:1 | 2.27:1 | |||||||||||||||||
Interest coverage ratio | Interest coverage ratio shall not be less than | 2.25:1 | 3.69:1 | |||||||||||||||||
Minimum net worth | Net worth shall not be less than | $500 million | $911 million |
December 31, 2017 | September 30, 2017 | |||||||
Lift Brands Holdings, Inc. | $ | 15,000 | $ | 15,000 | ||||
P2 Upstream Acquisition Co. | 10,000 | 10,000 | ||||||
Valet Merger Sub, Inc. | 9,326 | 9,326 | ||||||
Edge Fitness, LLC | 6,215 | 8,353 | ||||||
InMotion Entertainment Group, LLC | 5,545 | 7,544 | ||||||
EOS Fitness Opco Holdings, LLC | 5,000 | 5,000 | ||||||
Dominion Diagnostics, LLC (1) | 4,180 | 4,180 | ||||||
Impact Sales, LLC | 3,236 | 3,234 | ||||||
Pingora MSR Opportunity Fund I, LP (limited partnership interest) | 3,095 | 2,760 | ||||||
WeddingWire, Inc. | 3,000 | 3,000 | ||||||
Keypath Education, Inc. | 3,000 | 3,000 | ||||||
Motion Recruitment Partners LLC | 2,900 | 2,900 | ||||||
OmniSYS Acquisition Corporation | 2,500 | 2,500 | ||||||
Ping Identity Corporation | 2,500 | 2,500 | ||||||
Datto Inc. | 2,356 | — | ||||||
Traffic Solutions Holdings, Inc. | 2,248 | 2,998 | ||||||
4 Over International, LLC | 2,232 | 2,232 | ||||||
New IPT, Inc. | 2,229 | 2,229 | ||||||
Refac Optical Group | 2,080 | 2,080 | ||||||
SPC Partners VI, L.P. (limited partnership interest) | 1,862 | 2,000 | ||||||
Metamorph US 3, LLC (1) | 1,470 | 1,470 | ||||||
TransTrade Operators, Inc. (1)(2) | 1,393 | 1,052 | ||||||
Senior Loan Fund JV 1, LLC | 1,328 | 1,328 | ||||||
Edmentum, Inc. (1) | 932 | 2,664 | ||||||
Riverside Fund V, LP (limited partnership interest) | 539 | 539 | ||||||
Webster Capital III, L.P. (limited partnership interest) | 482 | 736 | ||||||
Sterling Capital Partners IV, L.P. (limited partnership interest) | 474 | 490 | ||||||
Tailwind Capital Partners II, L.P. (limited partnership interest) | 469 | 391 | ||||||
Beecken Petty O'Keefe Fund IV, L.P. (limited partnership interest) | 468 | 472 | ||||||
Ministry Brands, LLC | 375 | 1,708 | ||||||
Moelis Capital Partners Opportunity Fund I-B, L.P. (limited partnership interest) | 365 | 365 | ||||||
RCP Direct II, LP (limited partnership interest) | 364 | 364 | ||||||
Cenegenics, LLC (1) | 297 | 297 | ||||||
Riverside Fund IV, LP (limited partnership interest) | 254 | 254 | ||||||
ACON Equity Partners III, LP (limited partnership interest) | 231 | 239 | ||||||
Bunker Hill Capital II (QP), LP (limited partnership interest) | 183 | 183 | ||||||
RCP Direct, LP (limited partnership interest) | 178 | 184 | ||||||
SPC Partners V, L.P. (limited partnership interest) | 148 | 159 | ||||||
Riverlake Equity Partners II, LP (limited partnership interest) | 129 | 129 | ||||||
Milestone Partners IV, LP (limited partnership interest) | 84 | 180 | ||||||
Baird Capital Partners V, LP (limited partnership interest) | 54 | — | ||||||
BeyondTrust Software, Inc. | — | 5,995 | ||||||
Thing5, LLC | — | 3,000 | ||||||
Garretson Firm Resolution Group, Inc. | — | 508 | ||||||
Sailpoint Technologies, Inc. | — | 1,500 | ||||||
Systems, Inc. | — | 3,030 | ||||||
Total | $ | 98,721 | $ | 118,073 |
December 31, 2020 | September 30, 2020 | |||||||||||||
Assembled Brands Capital LLC | $ | 33,326 | $ | 36,079 | ||||||||||
WPEngine, Inc. | 26,348 | 26,348 | ||||||||||||
NuStar Logistics, L.P. | 17,911 | 17,911 | ||||||||||||
Athenex, Inc. | 17,085 | 22,780 | ||||||||||||
FFI Holdings I Corp | 16,529 | 0 | ||||||||||||
Thrasio, LLC | 11,355 | 0 | ||||||||||||
Jazz Acquisition, Inc. | 10,147 | 0 | ||||||||||||
Gulf Operating, LLC | 10,064 | 0 | ||||||||||||
Latam Airlines Group S.A. | 8,177 | 0 | ||||||||||||
MRI Software LLC | 6,473 | 7,239 | ||||||||||||
NeuAG, LLC | 4,382 | 4,382 | ||||||||||||
Corrona, LLC | 3,968 | 5,189 | ||||||||||||
Olaplex, Inc. | 3,834 | 1,917 | ||||||||||||
Pingora MSR Opportunity Fund I-A, LP | 3,500 | 3,500 | ||||||||||||
Dominion Diagnostics, LLC | 3,449 | 5,887 | ||||||||||||
Mindbody, Inc. | 3,048 | 3,048 | ||||||||||||
Ardonagh Midco 3 PLC | 2,506 | 3,007 | ||||||||||||
Accupac, Inc. | 2,346 | 2,346 | ||||||||||||
Acquia Inc. | 2,240 | 2,240 | ||||||||||||
New IPT, Inc. | 2,229 | 2,229 | ||||||||||||
ADB Companies, LLC | 1,667 | — | ||||||||||||
Apptio, Inc. | 1,538 | 1,538 | ||||||||||||
Telestream Holdings Corporation | 1,417 | — | ||||||||||||
Senior Loan Fund JV I, LLC | 1,328 | 1,328 | ||||||||||||
Ministry Brands, LLC | 1,000 | 425 | ||||||||||||
Coyote Buyer, LLC | 942 | 942 | ||||||||||||
Immucor, Inc. | 541 | 541 | ||||||||||||
GKD Index Partners, LLC | 231 | 231 | ||||||||||||
A.T. Holdings II SÀRL | — | 7,541 | ||||||||||||
iCIMs, Inc. | — | 882 | ||||||||||||
Total | $ | 197,581 | $ | 157,530 |
Debt Outstanding as of September 30, 2020 | Debt Outstanding as of December 31, 2020 | Weighted average debt outstanding for the three months ended December 31, 2020 | Maximum debt outstanding for the three months ended December 31, 2020 | |||||||||||||||||||||||
Credit Facility | $ | 414,825 | $ | 400,025 | $ | 403,403 | $ | 414,825 | ||||||||||||||||||
2025 Notes | 300,000 | 300,000 | 300,000 | 300,000 | ||||||||||||||||||||||
Total debt | $ | 714,825 | $ | 700,025 | $ | 703,403 |
Debt Outstanding as of September 30, 2017 | Debt Outstanding as of December 31, 2017 | Weighted average debt outstanding for the three months ended December 31, 2017 | Maximum debt outstanding for the three months ended December 31, 2017 | |||||||||||||
ING facility (1) | $ | 226,495 | $ | 205,000 | $ | 209,449 | $ | 226,495 | ||||||||
Sumitomo facility | 29,500 | — | 17,636 | 29,500 | ||||||||||||
2019 Notes | 250,000 | 250,000 | 250,000 | 250,000 | ||||||||||||
2024 Notes | 75,000 | 75,000 | 75,000 | 75,000 | ||||||||||||
2028 Notes | 86,250 | 86,250 | 86,250 | 86,250 | ||||||||||||
Secured borrowings | 13,489 | 13,489 | 13,489 | 13,489 | ||||||||||||
Total debt | $ | 680,734 | $ | 629,739 | $ | 651,824 |
Payments due by period as of December 31, 2017 | ||||||||||||||||||||
Contractual Obligations | Total | Less than 1 year | 1-3 years | 3-5 years | More than 5 years | |||||||||||||||
ING facility | $ | 205,000 | $ | — | $ | — | $ | 205,000 | $ | — | ||||||||||
Interest due on ING facility | 30,048 | 7,675 | 15,350 | 7,023 | — | |||||||||||||||
Secured borrowings | 13,489 | — | 13,489 | — | — | |||||||||||||||
Interest due on secured borrowings | 1,688 | 607 | 1,081 | — | — | |||||||||||||||
2019 Notes | 250,000 | — | 250,000 | — | — | |||||||||||||||
Interest due on 2019 Notes | 14,191 | 12,188 | 2,003 | — | — | |||||||||||||||
2024 Notes | 75,000 | — | — | — | 75,000 | |||||||||||||||
Interest due on 2024 Notes | 30,119 | 4,406 | 8,813 | 8,813 | 8,087 | |||||||||||||||
2028 Notes | 86,250 | — | — | — | 86,250 | |||||||||||||||
Interest due on 2028 Notes | 54,608 | 5,283 | 10,566 | 10,566 | 28,193 | |||||||||||||||
Total | $ | 760,393 | $ | 30,159 | $ | 301,302 | $ | 231,402 | $ | 197,530 |
Payments due by period as of December 31, 2020 | ||||||||||||||||||||||||||||||||
Contractual Obligations | Total | Less than 1 year | 1-3 years | 3-5 years | More than 5 years | |||||||||||||||||||||||||||
Credit Facility | $ | 400,025 | $ | — | $ | — | $ | 400,025 | $ | — | ||||||||||||||||||||||
Interest due on Credit Facility | 27,570 | 8,751 | 17,501 | 1,318 | — | |||||||||||||||||||||||||||
2025 Notes | 300,000 | — | — | 300,000 | — | |||||||||||||||||||||||||||
Interest due on 2025 Notes | 43,640 | 10,500 | 21,000 | 12,140 | — | |||||||||||||||||||||||||||
Total | $ | 771,235 | $ | 19,251 | $ | 38,501 | $ | 713,483 | $ | — |
Year Ended | Qualified Net Interest Income | Qualified Short-Term Capital Gains | |||||||||
September 30, | % | — |
December 31, 2020 | September 30, 2020 | |||||||||||||||||||||||||||||||||||||
($ in thousands) | Fair Value | % of Floating Rate Portfolio | Fair Value | % of Floating Rate Portfolio | ||||||||||||||||||||||||||||||||||
0% | $ | 528,798 | 36.8 | % | $ | 553,829 | 42.2 | % | ||||||||||||||||||||||||||||||
>0% and <1% | 111,845 | 7.8 | % | 39,789 | 3.0 | % | ||||||||||||||||||||||||||||||||
1% | 748,573 | 52.1 | % | 672,529 | 51.3 | % | ||||||||||||||||||||||||||||||||
>1% | 46,855 | 3.3 | % | 45,362 | 3.5 | % | ||||||||||||||||||||||||||||||||
Total Floating Rate Investments | $ | 1,436,071 | 100.0 | % | $ | 1,311,509 | 100.0 | % |
December 31, 2017 | September 30, 2017 | |||||||||||||
($ in thousands) | Fair Value | % of Floating Rate Portfolio | Fair Value | % of Floating Rate Portfolio | ||||||||||
Under 1% | $ | 189,683 | 17.71 | % | $ | 201,365 | 16.91 | % | ||||||
1% to under 2% | 881,158 | 82.29 | 989,575 | 83.09 | ||||||||||
2% to under 3% | — | — | — | — | ||||||||||
3% and over | — | — | — | — | ||||||||||
Total | $ | 1,070,841 | 100.00 | % | $ | 1,190,940 | 100.00 | % |
($ in thousands) | ||||||||||||||||||||
Basis point increase | Increase in Interest Income | (Increase) in Interest Expense | Net increase (decrease) in net assets resulting from operations | |||||||||||||||||
250 | $ | 29,066 | $ | (10,001) | $ | 19,065 | ||||||||||||||
200 | 21,838 | (8,001) | 13,837 | |||||||||||||||||
150 | 14,610 | (6,000) | 8,610 | |||||||||||||||||
100 | 7,471 | (4,000) | 3,471 | |||||||||||||||||
50 | 2,703 | (2,000) | 703 |
($ in thousands) | |||||||||
Basis point increase(1) | Interest income | Interest expense | Net increase (decrease) | ||||||
300 | 31,300 | (6,100 | ) | 25,200 | |||||
200 | 20,800 | (3,900 | ) | 16,900 | |||||
100 | 10,200 | (1,800 | ) | 8,400 |
Basis point decrease (1) | Interest Income | Interest Expense | Net increase (decrease) | ||||||
100 | (7,800 | ) | 2,200 | (5,600 | ) |
December 31, 2020 | September 30, 2020 | |||||||||||||||||||||||||
($ in thousands) | Interest Bearing Cash and Investments | Borrowings | Interest Bearing Cash and Investments | Borrowings | ||||||||||||||||||||||
Money market rate | $ | 20,966 | $ | — | $ | 35,248 | $ | — | ||||||||||||||||||
Prime rate | 305 | — | 305 | — | ||||||||||||||||||||||
LIBOR | ||||||||||||||||||||||||||
30 day | 749,525 | 400,025 | 717,576 | 414,825 | ||||||||||||||||||||||
60 day | 9,000 | — | 6,861 | — | ||||||||||||||||||||||
90 day | 466,373 | — | 362,141 | — | ||||||||||||||||||||||
180 day | 167,349 | — | 201,699 | — | ||||||||||||||||||||||
360 day | 15,007 | — | 23,351 | — | ||||||||||||||||||||||
EURIBOR | ||||||||||||||||||||||||||
30 day | 30,391 | — | 29,126 | — | ||||||||||||||||||||||
180 day | 1,762 | — | 1,689 | — | ||||||||||||||||||||||
UK LIBOR | ||||||||||||||||||||||||||
30 day | 24,605 | — | 23,270 | — | ||||||||||||||||||||||
180 day | 15,450 | — | 14,612 | — | ||||||||||||||||||||||
Fixed rate | 162,980 | 300,000 | 171,976 | 300,000 | ||||||||||||||||||||||
Total | $ | 1,663,713 | $ | 700,025 | $ | 1,587,854 | $ | 714,825 |
December 31, 2017 | September 30, 2017 | |||||||||||||||
($ in thousands) | Interest Bearing Cash and Investments | Borrowings | Interest Bearing Cash and Investments | Borrowings | ||||||||||||
Money market rate | $ | 45,754 | $ | — | $ | 59,913 | $ | — | ||||||||
Prime rate | 2,756 | — | 1,061 | — | ||||||||||||
LIBOR | ||||||||||||||||
30 day | 41,802 | 205,000 | 42,165 | 255,993 | ||||||||||||
90 day | 1,168,248 | 13,489 | 1,254,246 | 13,491 | ||||||||||||
Fixed rate | 298,287 | 411,250 | 290,427 | 411,250 | ||||||||||||
Total | $ | 1,556,847 | $ | 629,739 | $ | 1,647,812 | $ | 680,734 |
Amendment No. 3 to Amended and Restated Senior Secured Revolving Credit Agreement, dated as of | ||||||||
Incremental Commitment Agreement, dated as of December 28, 2020, made by the Registrant, as Borrower, MUFG Union Bank, N.A., as increasing lender, and ING Capital LLC, as administrative agent and issuing bank relating to the Amended and Restated Senior Secured Revolving Credit Agreement, dated as of February 25, 2019 among the Registrant, as Borrower, the lenders party thereto, ING Capital LLC, as administrative agent, ING Capital LLC, JPMorgan Chase Bank, N.A. and Merrill Lynch, Pierce, Fenner & Smith Incorporated as joint lead arrangers and joint bookrunners, and JPMorgan Chase Bank, N.A. and Bank of America, N.A., as syndication agents (Incorporated by reference to Exhibit 10.1 filed with the Registrant’s Current Report on Form 8-K (File No. 814-00755) filed on December |
Certification of Chief Executive Officer Pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934. | ||||||||
Certification of Chief Financial Officer Pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934. | ||||||||
Certification of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350). | ||||||||
Certification of Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350). |
* | Filed herewith. | ||||
^ | Exhibits and schedules to Exhibit 2.1 have been omitted in accordance with Item 601 of Regulation S-K. The Registrant agrees to furnish supplementally a copy of all omitted exhibits and schedules to the SEC upon its request. |
OAKTREE SPECIALTY LENDING CORPORATION | ||||||||
By: | /s/ | |||||||
Chief Executive Officer | ||||||||
By: | /s/ Mel Carlisle | |||||||
Mel Carlisle | ||||||||
Chief Financial Officer and Treasurer |