þ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) | ||||||||||
OF THE SECURITIES EXCHANGE ACT OF 1934 |
o | 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 þ | 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, 2019 (unaudited) | September 30, 2019 | |||||||
ASSETS | ||||||||
Investments at fair value: | ||||||||
Control investments (cost December 31, 2019: $205,608; cost September 30, 2019: $224,255) | $ | 192,528 | $ | 209,178 | ||||
Affiliate investments (cost December 31, 2019: $8,449; cost September 30, 2019: $8,449) | 9,106 | 9,170 | ||||||
Non-control/Non-affiliate investments (cost December 31, 2019: $1,324,201; cost September 30, 2019: $1,280,310) | 1,265,993 | 1,219,694 | ||||||
Total investments at fair value (cost December 31, 2019: $1,538,258; cost September 30, 2019: $1,513,014) | 1,467,627 | 1,438,042 | ||||||
Cash and cash equivalents | 21,527 | 15,406 | ||||||
Interest, dividends and fees receivable | 10,356 | 11,167 | ||||||
Due from portfolio companies | 2,931 | 2,616 | ||||||
Receivables from unsettled transactions | 5,458 | 4,586 | ||||||
Deferred financing costs | 6,034 | 6,396 | ||||||
Deferred offering costs | 65 | — | ||||||
Derivative assets at fair value | — | 490 | ||||||
Other assets | 2,602 | 2,335 | ||||||
Total assets | $ | 1,516,600 | $ | 1,481,038 | ||||
LIABILITIES AND NET ASSETS | ||||||||
Liabilities: | ||||||||
Accounts payable, accrued expenses and other liabilities | $ | 1,540 | $ | 1,589 | ||||
Base management fee and incentive fee payable | 15,971 | 10,167 | ||||||
Due to affiliate | 2,548 | 2,689 | ||||||
Interest payable | 2,402 | 2,296 | ||||||
Payable to syndication partners | 1 | — | ||||||
Payables from unsettled transactions | 24,687 | 59,596 | ||||||
Derivative liability at fair value | 972 | — | ||||||
Deferred tax liability | 929 | 704 | ||||||
Credit facility payable | 377,825 | 314,825 | ||||||
Unsecured notes payable (net of $2,607 and $2,708 of unamortized financing costs as of December 31, 2019 and September 30, 2019, respectively) | 158,643 | 158,542 | ||||||
Total liabilities | 585,518 | 550,408 | ||||||
Commitments and contingencies (Note 15) | ||||||||
Net assets: | ||||||||
Common stock, $0.01 par value per share, 250,000 shares authorized; 140,961 shares issued and outstanding as of December 31, 2019 and September 30, 2019 | 1,409 | 1,409 | ||||||
Additional paid-in-capital | 1,487,774 | 1,487,774 | ||||||
Accumulated overdistributed earnings | (558,101 | ) | (558,553 | ) | ||||
Total net assets (equivalent to $6.61 and $6.60 per common share as of December 31, 2019 and September 30, 2019, respectively) (Note 12) | 931,082 | 930,630 | ||||||
Total liabilities and net assets | $ | 1,516,600 | $ | 1,481,038 |
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, 2019 | Three months ended December 31, 2018 | |||||||
Interest income: | ||||||||
Control investments | $ | 2,551 | $ | 3,339 | ||||
Affiliate investments | 114 | 13 | ||||||
Non-control/Non-affiliate investments | 25,659 | 32,167 | ||||||
Interest on cash and cash equivalents | 81 | 270 | ||||||
Total interest income | 28,405 | 35,789 | ||||||
PIK interest income: | ||||||||
Control investments | — | 67 | ||||||
Non-control/Non-affiliate investments | 1,161 | 765 | ||||||
Total PIK interest income | 1,161 | 832 | ||||||
Fee income: | ||||||||
Control investments | 6 | 6 | ||||||
Affiliate investments | 5 | 4 | ||||||
Non-control/Non-affiliate investments | 1,060 | 1,192 | ||||||
Total fee income | 1,071 | 1,202 | ||||||
Dividend income: | ||||||||
Control investments | 323 | 453 | ||||||
Total dividend income | 323 | 453 | ||||||
Total investment income | 30,960 | 38,276 | ||||||
Expenses: | ||||||||
Base management fee | 5,607 | 5,568 | ||||||
Part I incentive fee | 2,988 | 3,728 | ||||||
Part II incentive fee | 1,051 | 1,820 | ||||||
Professional fees | 640 | 966 | ||||||
Directors fees | 143 | 143 | ||||||
Interest expense | 6,535 | 8,904 | ||||||
Administrator expense | 428 | 763 | ||||||
General and administrative expenses | 532 | 631 | ||||||
Total expenses | 17,924 | 22,523 | ||||||
Reversal of fees waived / (fees waived) | 5,200 | (1,564 | ) | |||||
Net expenses | 23,124 | 20,959 | ||||||
Net investment income | 7,836 | 17,317 | ||||||
Unrealized appreciation (depreciation): | ||||||||
Control investments | 1,997 | (5,820 | ) | |||||
Affiliate investments | (64 | ) | — | |||||
Non-control/Non-affiliate investments | 2,408 | (784 | ) | |||||
Secured borrowings | — | (19 | ) | |||||
Foreign currency forward contracts | (1,462 | ) | (352 | ) | ||||
Net unrealized appreciation (depreciation) | 2,879 | (6,975 | ) | |||||
Realized gains (losses): | ||||||||
Non-control/Non-affiliate investments | 3,839 | 16,761 | ||||||
Foreign currency forward contracts | (551 | ) | 1,201 | |||||
Net realized gains (losses) | 3,288 | 17,962 | ||||||
Provision for income tax (expense) benefit | (160 | ) | (586 | ) | ||||
Net realized and unrealized gains (losses), net of taxes | 6,007 | 10,401 | ||||||
Net increase (decrease) in net assets resulting from operations | $ | 13,843 | $ | 27,718 | ||||
Net investment income per common share — basic and diluted | $ | 0.06 | $ | 0.12 | ||||
Earnings (loss) per common share — basic and diluted (Note 5) | $ | 0.10 | $ | 0.20 | ||||
Weighted average common shares outstanding — basic and diluted | 140,961 | 140,961 |
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, 2019 | Three months ended December 31, 2018 | |||||||
Operations: | ||||||||
Net investment income | $ | 7,836 | $ | 17,317 | ||||
Net unrealized appreciation (depreciation) | 2,879 | (6,975 | ) | |||||
Net realized gains (losses) | 3,288 | 17,962 | ||||||
Provision for income taxes | (160 | ) | (586 | ) | ||||
Net increase (decrease) in net assets resulting from operations | 13,843 | 27,718 | ||||||
Stockholder transactions: | ||||||||
Distributions to stockholders | (13,391 | ) | (13,391 | ) | ||||
Net increase (decrease) in net assets from stockholder transactions | (13,391 | ) | (13,391 | ) | ||||
Capital share transactions: | ||||||||
Issuance of common stock under dividend reinvestment plan | 481 | 384 | ||||||
Repurchases of common stock under dividend reinvestment plan | (481 | ) | (384 | ) | ||||
Net increase (decrease) in net assets from capital share transactions | — | — | ||||||
Total increase (decrease) in net assets | 452 | 14,327 | ||||||
Net assets at beginning of period | 930,630 | 858,035 | ||||||
Net assets at end of period | $ | 931,082 | $ | 872,362 | ||||
Net asset value per common share | $ | 6.61 | $ | 6.19 | ||||
Common shares outstanding at end of period | 140,961 | 140,961 |
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 |
Three months ended December 31, 2019 | Three months ended December 31, 2018 | |||||||
Operating activities: | ||||||||
Net increase (decrease) in net assets resulting from operations | $ | 13,843 | $ | 27,718 | ||||
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 | (2,879 | ) | 6,975 | |||||
Net realized (gains) losses | (3,288 | ) | (17,962 | ) | ||||
PIK interest income | (1,161 | ) | (832 | ) | ||||
Accretion of original issue discount on investments | (2,028 | ) | (7,518 | ) | ||||
Accretion of original issue discount on unsecured notes payable | — | 66 | ||||||
Amortization of deferred financing costs | 463 | 699 | ||||||
Deferred taxes | 225 | 135 | ||||||
Purchases of investments | (115,792 | ) | (162,422 | ) | ||||
Proceeds from the sales and repayments of investments | 97,022 | 208,326 | ||||||
Changes in operating assets and liabilities: | ||||||||
(Increase) decrease in interest, dividends and fees receivable | 811 | 291 | ||||||
(Increase) decrease in due from portfolio companies | (315 | ) | (765 | ) | ||||
(Increase) decrease in receivables from unsettled transactions | (872 | ) | 26,760 | |||||
(Increase) decrease in other assets | (267 | ) | (74 | ) | ||||
Increase (decrease) in accounts payable, accrued expenses and other liabilities | (92 | ) | (1,219 | ) | ||||
Increase (decrease) in base management fee and incentive fee payable | 5,804 | 147 | ||||||
Increase (decrease) in due to affiliate | (141 | ) | 279 | |||||
Increase (decrease) in interest payable | 106 | 2,868 | ||||||
Increase (decrease) in payables from unsettled transactions | (34,909 | ) | 3,073 | |||||
Increase (decrease) in director fees payable | — | 68 | ||||||
Increase (decrease) in amounts payable to syndication partners | 1 | 270 | ||||||
Net cash provided by (used in) operating activities | (43,469 | ) | 86,883 | |||||
Financing activities: | ||||||||
Distributions paid in cash | (12,910 | ) | (13,007 | ) | ||||
Borrowings under credit facilities | 82,000 | — | ||||||
Repayments of borrowings under credit facilities | (19,000 | ) | (30,000 | ) | ||||
Repayments of secured borrowings | — | (325 | ) | |||||
Repurchases of common stock under dividend reinvestment plan | (481 | ) | (384 | ) | ||||
Deferred offering costs paid | (20 | ) | — | |||||
Net cash provided by (used in) financing activities | 49,589 | (43,716 | ) | |||||
Effect of exchange rate changes on foreign currency | 1 | — | ||||||
Net increase (decrease) in cash and cash equivalents and restricted cash | 6,121 | 43,167 | ||||||
Cash and cash equivalents and restricted cash, beginning of period | 15,406 | 13,489 | ||||||
Cash and cash equivalents and restricted cash, end of period | $ | 21,527 | $ | 56,656 | ||||
Supplemental information: | ||||||||
Cash paid for interest | $ | 5,966 | $ | 5,272 | ||||
Non-cash financing activities: | ||||||||
Issuance of shares of common stock under dividend reinvestment plan | $ | 481 | $ | 384 | ||||
Deferred offering costs | $ | (45 | ) | $ | — |
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)(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 | 34,984 | (20) | |||||||||||||
34,984 | 34,984 | |||||||||||||||
First Star Speir Aviation Limited | Airlines | (10) | ||||||||||||||
First Lien Term Loan, 9.00% cash due 12/15/2020 | $ | 11,510 | 2,140 | 11,510 | (11)(20) | |||||||||||
100% equity interest | 8,500 | 4,456 | (11)(12)(20) | |||||||||||||
10,640 | 15,966 | |||||||||||||||
New IPT, Inc. | Oil & Gas Equipment & Services | |||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 3/17/2021 | 6.94 | % | 2,755 | 2,755 | 2,755 | (6)(20) | ||||||||||
First Lien Revolver, LIBOR+5.00% cash due 3/17/2021 | 6.94 | % | 1,009 | 1,009 | 1,009 | (6)(19)(20) | ||||||||||
50.087 Class A Common Units in New IPT Holdings, LLC | — | 2,903 | (20) | |||||||||||||
3,764 | 6,667 | |||||||||||||||
Senior Loan Fund JV I, LLC | Multi-Sector Holdings | (14) | ||||||||||||||
Subordinated Debt, LIBOR+7.00% cash due 12/29/2028 | 9.01 | % | 96,250 | 96,250 | 96,250 | (6)(11)(20) | ||||||||||
87.5% LLC equity interest | 49,322 | 32,223 | (11)(16)(19) | |||||||||||||
145,572 | 128,473 | |||||||||||||||
Thruline Marketing, Inc. | Advertising | |||||||||||||||
9,073 Class A Units in FS AVI Holdco, LLC | 10,648 | 6,438 | (20) | |||||||||||||
10,648 | 6,438 | |||||||||||||||
Total Control Investments (20.7% of net assets) | $ | 205,608 | $ | 192,528 | ||||||||||||
Affiliate Investments | (17) | |||||||||||||||
Assembled Brands Capital LLC | Specialized Finance | |||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+6.00% cash due 10/17/2023 | 7.94 | % | $ | 5,585 | $ | 5,585 | $ | 5,585 | (6)(19)(20) | |||||||
1,609,201 Class A Units | 765 | 917 | (20) | |||||||||||||
1,019,168.80 Preferred Units, 6% | 1,019 | 1,040 | (20) | |||||||||||||
70,424.5641 Class A Warrants (exercise price $3.3778) expiration date 9/9/2029 | — | — | (20) | |||||||||||||
7,369 | 7,542 | |||||||||||||||
Caregiver Services, Inc. | Health Care Services | |||||||||||||||
1,080,399 shares of Series A Preferred Stock, 10% | 1,080 | 1,564 | (20) | |||||||||||||
1,080 | 1,564 | |||||||||||||||
Total Affiliate Investments (1.0% of net assets) | $ | 8,449 | $ | 9,106 | ||||||||||||
Non-Control/Non-Affiliate Investments | (18) | |||||||||||||||
4 Over International, LLC | Commercial Printing | |||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 6/7/2022 | 7.80 | % | $ | 5,768 | $ | 5,737 | $ | 5,659 | (6)(20) | |||||||
First Lien Revolver, PRIME+5.00% cash due 6/7/2021 | 9.75 | % | 383 | 365 | 341 | (6)(19)(20) | ||||||||||
6,102 | 6,000 | |||||||||||||||
99 Cents Only Stores LLC | General Merchandise Stores | |||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash 1.50% PIK due 1/13/2022 | 6.94 | % | 19,323 | 18,987 | 16,376 | (6) | ||||||||||
18,987 | 16,376 | |||||||||||||||
Access CIG, LLC | Diversified Support Services | |||||||||||||||
Second Lien Term Loan, LIBOR+7.75% cash due 2/27/2026 | 9.44 | % | 15,000 | 14,896 | 14,963 | (6) | ||||||||||
14,896 | 14,963 |
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)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | ||||||||||
Acquia Inc. | Application Software | |||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 10/31/2025 | 8.91 | % | $ | 20,950 | $ | 20,542 | $ | 20,531 | (6)(20) | |||||||
First Lien Revolver, LIBOR+7.00% cash due 10/31/2025 | — | (44 | ) | (45 | ) | (6)(19)(20) | ||||||||||
20,498 | 20,486 | |||||||||||||||
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 | 12,861 | (20) | |||||||||||||
13,611 | 12,861 | |||||||||||||||
AI Ladder (Luxembourg) Subco S.a.r.l. | Electrical Components & Equipment | |||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 7/9/2025 | 6.44 | % | 21,657 | 21,142 | 21,684 | (6)(11) | ||||||||||
21,142 | 21,684 | |||||||||||||||
AI Sirona (Luxembourg) Acquisition S.a.r.l. | Pharmaceuticals | |||||||||||||||
Second Lien Term Loan, EURIBOR+7.25% cash due 9/28/2026 | 7.25 | % | € | 17,500 | 20,035 | 18,760 | (6)(11)(20) | |||||||||
20,035 | 18,760 | |||||||||||||||
Air Medical Group Holdings, Inc. | Health Care Services | |||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 3/14/2025 | 6.05 | % | $ | 6,305 | 6,182 | 6,131 | (6) | |||||||||
6,182 | 6,131 | |||||||||||||||
AirStrip Technologies, Inc. | Application Software | |||||||||||||||
5,715 Common Stock Warrants (exercise price $139.99) expiration date 5/11/2025 | 90 | — | (20) | |||||||||||||
90 | — | |||||||||||||||
Airxcel, Inc. | Household Appliances | |||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 4/28/2025 | 6.30 | % | 7,880 | 7,820 | 7,742 | (6)(20) | ||||||||||
7,820 | 7,742 | |||||||||||||||
Aldevron, L.L.C. | Biotechnology | |||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 10/12/2026 | 6.19 | % | 8,000 | 7,920 | 8,100 | (6) | ||||||||||
7,920 | 8,100 | |||||||||||||||
Algeco Scotsman Global Finance Plc | Construction & Engineering | |||||||||||||||
Fixed Rate Bond, 8.00% cash due 2/15/2023 | 19,517 | 19,135 | 19,053 | (11) | ||||||||||||
19,135 | 19,053 | |||||||||||||||
Allen Media, LLC | Movies & Entertainment | |||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 8/30/2023 | 8.44 | % | 18,982 | 18,631 | 18,507 | (6)(20) | ||||||||||
18,631 | 18,507 | |||||||||||||||
Altice France S.A. | Integrated Telecommunication Services | |||||||||||||||
Fixed Rate Bond, 8.13% cash due 1/15/2024 | 3,000 | 3,043 | 3,102 | (11) | ||||||||||||
Fixed Rate Bond, 7.63% cash due 2/15/2025 | 2,000 | 2,012 | 2,076 | (11) | ||||||||||||
5,055 | 5,178 | |||||||||||||||
Alvotech Holdings S.A. | Biotechnology | |||||||||||||||
Fixed Rate Bond 15% PIK Note A due 12/13/2023 | 14,800 | 16,882 | 19,111 | (11)(13)(20) | ||||||||||||
Fixed Rate Bond 15% PIK Note B due 12/13/2023 | 14,800 | 16,882 | 18,425 | (11)(13)(20) | ||||||||||||
33,764 | 37,536 | |||||||||||||||
Ancile Solutions, Inc. | Application Software | |||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 6/30/2021 | 8.94 | % | 8,553 | 8,482 | 8,399 | (6)(20) | ||||||||||
8,482 | 8,399 | |||||||||||||||
Apptio, Inc. | Application Software | |||||||||||||||
First Lien Term Loan, LIBOR+7.25% cash due 1/10/2025 | 8.96 | % | 23,764 | 23,360 | 23,332 | (6)(20) | ||||||||||
First Lien Revolver, LIBOR+7.25% cash due 1/10/2025 | — | (26 | ) | (28 | ) | (6)(19)(20) | ||||||||||
23,334 | 23,304 |
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)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | ||||||||||
Asurion, LLC | Property & Casualty Insurance | |||||||||||||||
Second Lien Term Loan, LIBOR+6.50% cash due 8/4/2025 | 8.30 | % | $ | 22,000 | $ | 21,956 | $ | 22,322 | (6) | |||||||
21,956 | 22,322 | |||||||||||||||
Aurora Lux Finco S.À.R.L. | Airport Services | |||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026 | 7.93 | % | 23,000 | 22,427 | 22,425 | (6)(11)(20) | ||||||||||
22,427 | 22,425 | |||||||||||||||
Avantor Inc. | Health Care Distributors | |||||||||||||||
Fixed Rate Bond, 9.00% cash due 10/1/2025 | 3,000 | 2,976 | 3,359 | |||||||||||||
2,976 | 3,359 | |||||||||||||||
Blackhawk Network Holdings, Inc. | Data Processing & Outsourced Services | |||||||||||||||
Second Lien Term Loan, LIBOR+7.00% cash due 6/15/2026 | 8.75 | % | 26,250 | 26,022 | 26,250 | (6) | ||||||||||
26,022 | 26,250 | |||||||||||||||
Boxer Parent Company Inc. | Systems Software | |||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 10/2/2025 | 6.05 | % | 13,880 | 13,765 | 13,756 | (6) | ||||||||||
13,765 | 13,756 | |||||||||||||||
California Pizza Kitchen, Inc. | Restaurants | |||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 8/23/2022 | 7.91 | % | 3,114 | 3,089 | 2,718 | (6) | ||||||||||
3,089 | 2,718 | |||||||||||||||
Cenegenics, LLC | Health Care Services | (15) | ||||||||||||||
First Lien Term Loan, 9.75% cash 2.00% PIK due 9/30/2019 | 29,884 | 27,738 | — | (20)(21) | ||||||||||||
First Lien Revolver, 15.00% cash due 9/30/2019 | 2,203 | 2,203 | — | (20)(21) | ||||||||||||
452,914.87 Common Units in Cenegenics, LLC | 598 | — | (20) | |||||||||||||
345,380.141 Preferred Units in Cenegenics, LLC | 300 | — | (20) | |||||||||||||
30,839 | — | |||||||||||||||
Chief Power Finance II, LLC | Independent Power Producers & Energy Traders | |||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 12/31/2022 | 8.36 | % | 22,713 | 22,175 | 22,145 | (6)(20) | ||||||||||
22,175 | 22,145 | |||||||||||||||
CITGO Holding, Inc. | Oil & Gas Refining & Marketing | |||||||||||||||
Fixed Rate Bond, 9.25% cash due 8/1/2024 | 10,672 | 10,672 | 11,473 | |||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 8/1/2023 | 8.80 | % | 9,975 | 9,840 | 10,191 | (6) | ||||||||||
20,512 | 21,664 | |||||||||||||||
CITGO Petroleum Corp. | Oil & Gas Refining & Marketing | |||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 3/28/2024 | 6.94 | % | 9,925 | 9,826 | 9,987 | (6) | ||||||||||
9,826 | 9,987 | |||||||||||||||
Connect U.S. Finco LLC | Alternative Carriers | |||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+4.50% cash due 12/11/2026 | 6.29 | % | 12,268 | 11,671 | 12,491 | (6)(11)(19) | ||||||||||
11,671 | 12,491 | |||||||||||||||
Convergeone Holdings, Inc. | IT Consulting & Other Services | |||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 1/4/2026 | 6.80 | % | 14,733 | 14,212 | 14,133 | (6) | ||||||||||
14,212 | 14,133 |
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)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | ||||||||||
Conviva Inc. | Application Software | |||||||||||||||
417,851 Series D Preferred Stock Warrants (exercise price $1.1966) expiration date 2/28/2021 | $ | 105 | $ | 406 | (20) | |||||||||||
105 | 406 | |||||||||||||||
Corrona, LLC | Health Care Services | |||||||||||||||
First Lien Term Loan, LIBOR+5.75% cash due 12/13/2025 | 7.49 | % | $ | 10,377 | 10,198 | 10,196 | (6)(20) | |||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.75% cash due 12/13/2025 | — | (32 | ) | (32 | ) | (6)(19)(20) | ||||||||||
First Lien Revolver, LIBOR+5.75% cash due 12/13/2025 | — | (32 | ) | (32 | ) | (6)(19)(20) | ||||||||||
1,099 Class A2 Common Units in Corrona Group Holdings, L.P. | 1,099 | 1,099 | (20) | |||||||||||||
11,233 | 11,231 | |||||||||||||||
Cortes NP Acquisition Corporation | Electrical Components & Equipment | |||||||||||||||
First Lien Term Loan, LIBOR+4.00% cash due 11/30/2023 | 5.93 | % | 4,729 | 4,526 | 4,729 | (6) | ||||||||||
4,526 | 4,729 | |||||||||||||||
Covia Holdings Corporation | Oil & Gas Equipment & Services | |||||||||||||||
First Lien Term Loan, LIBOR+4.00% cash due 6/1/2025 | 6.04 | % | 7,900 | 7,900 | 6,133 | (6)(11) | ||||||||||
7,900 | 6,133 | |||||||||||||||
Cypress Intermediate Holdings III, Inc. | Application Software | |||||||||||||||
Second Lien Term Loan, LIBOR+6.75% cash due 4/28/2025 | 8.55 | % | 500 | 500 | 503 | (6) | ||||||||||
500 | 503 | |||||||||||||||
Dominion Diagnostics, LLC | Health Care Services | (15) | ||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 4/8/2019 | 7.28 | % | 45,691 | 45,691 | 44,512 | (6)(20) | ||||||||||
First Lien Revolver, LIBOR+5.50% cash due 4/8/2019 | 7.28 | % | 2,090 | 2,090 | 1,983 | (6)(20) | ||||||||||
Subordinated Term Loan, 11.00% cash 1.00% PIK due 10/18/2019 | 20,325 | 14,280 | — | (20)(21) | ||||||||||||
62,061 | 46,495 | |||||||||||||||
The Dun & Bradstreet Corporation | Research & Consulting Services | |||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 2/6/2026 | 6.79 | % | 10,000 | 9,824 | 10,100 | (6) | ||||||||||
Fixed Rate Bond 6.875% cash due 8/15/2026 | 5,000 | 5,000 | 5,528 | |||||||||||||
14,824 | 15,628 | |||||||||||||||
Eagleview Technology Corporation | Application Software | |||||||||||||||
Second Lien Term Loan, LIBOR+7.50% cash due 8/14/2026 | 9.41 | % | 12,000 | 11,880 | 11,460 | (6)(20) | ||||||||||
11,880 | 11,460 | |||||||||||||||
EHR Canada, LLC | Food Retail | |||||||||||||||
First Lien Term Loan, LIBOR+8.00% cash due 9/28/2020 | 9.94 | % | 6,861 | 6,813 | 6,998 | (6)(20) | ||||||||||
6,813 | 6,998 | |||||||||||||||
EOS Fitness Opco Holdings, LLC | Leisure Facilities | |||||||||||||||
487.5 Class A Preferred Units, 12% | 488 | 881 | (20) | |||||||||||||
12,500 Class B Common Units | — | 1,123 | (20) | |||||||||||||
488 | 2,004 | |||||||||||||||
Equitrans Midstream Corp. | Oil & Gas Storage & Transportation | |||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 1/31/2024 | 6.30 | % | 11,880 | 11,592 | 11,853 | (6)(11) | ||||||||||
11,592 | 11,853 | |||||||||||||||
ExamSoft Worldwide, Inc. | Application Software | |||||||||||||||
180,707 Class C Units in ExamSoft Investor LLC | 181 | — | (20) | |||||||||||||
181 | — | |||||||||||||||
GI Chill Acquisition LLC | Managed Health Care | |||||||||||||||
First Lien Term Loan, LIBOR+4.00% cash due 8/6/2025 | 5.94 | % | 17,775 | 17,686 | 17,665 | (6)(20) | ||||||||||
Second Lien Term Loan, LIBOR+7.50% cash due 8/6/2026 | 9.44 | % | 10,000 | 9,917 | 9,900 | (6)(20) | ||||||||||
27,603 | 27,565 |
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)(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 | 8.94 | % | $ | 22,092 | $ | 21,938 | $ | 21,783 | (6)(20) | |||||||
First Lien Revolver, LIBOR+7.00% cash due 6/29/2023 | 8.95 | % | 578 | 570 | 560 | (6)(19)(20) | ||||||||||
22,508 | 22,343 | |||||||||||||||
Guidehouse LLP | Research & Consulting Services | |||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 5/1/2025 | 6.30 | % | 4,987 | 4,937 | 4,959 | (6) | ||||||||||
Second Lien Term Loan, LIBOR+8.00% cash due 5/1/2026 | 9.80 | % | 20,000 | 19,920 | 19,700 | (6) | ||||||||||
24,857 | 24,659 | |||||||||||||||
HealthEdge Software, Inc. | Application Software | |||||||||||||||
482,453 Series A-3 Preferred Stock Warrants (exercise price $1.450918) expiration date 9/30/2023 | 213 | 754 | (20) | |||||||||||||
213 | 754 | |||||||||||||||
Houghton Mifflin Harcourt Publishers Inc. | Education Services | (6)(11) | ||||||||||||||
First Lien Term Loan, LIBOR+6.25% cash due 11/22/2024 | 8.04 | % | 7,000 | 6,720 | 7,000 | |||||||||||
6,720 | 7,000 | |||||||||||||||
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 | 9.00 | % | 13,659 | 12,625 | 12,618 | (6)(20) | ||||||||||
12,625 | 12,618 | |||||||||||||||
iCIMs, Inc. | Application Software | |||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 9/12/2024 | 8.29 | % | 16,718 | 16,450 | 16,448 | (6)(20) | ||||||||||
First Lien Revolver, LIBOR+6.50% cash due 9/12/2024 | — | (14 | ) | (14 | ) | (6)(19)(20) | ||||||||||
16,436 | 16,434 | |||||||||||||||
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 | 864 | 2,318 | (11)(16) | |||||||||||||
864 | 2,318 | |||||||||||||||
Lanai Holdings III, Inc. | Health Care Distributors | |||||||||||||||
First Lien Term Loan, LIBOR+4.75% cash due 8/29/2022 | 6.68 | % | 16,319 | 16,084 | 15,479 | (6) | ||||||||||
16,084 | 15,479 | |||||||||||||||
Lannett Company, Inc. | Pharmaceuticals | |||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 11/25/2020 | 6.80 | % | 686 | 687 | 683 | (6)(11) | ||||||||||
687 | 683 | |||||||||||||||
Lift Brands Holdings, Inc. | Leisure Facilities | |||||||||||||||
2,000,000 Class A Common Units in Snap Investments, LLC | 1,399 | 2,324 | (20) | |||||||||||||
1,399 | 2,324 | |||||||||||||||
Lightbox Intermediate, L.P. | Real Estate Services | |||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 5/9/2026 | 6.74 | % | 39,800 | 39,255 | 39,303 | (6)(20) | ||||||||||
39,255 | 39,303 | |||||||||||||||
LTI Holdings, Inc. | Auto Parts & Equipment | |||||||||||||||
First Lien Term Loan, LIBOR+4.75% cash due 7/24/2026 | 6.55 | % | 458 | 394 | 422 | (6) | ||||||||||
First Lien Term Loan, LIBOR+3.50% cash due 9/6/2025 | 5.30 | % | 1,726 | 1,473 | 1,561 | (6) | ||||||||||
Second Lien Term Loan, LIBOR+6.75% cash due 9/6/2026 | 8.55 | % | 9,000 | 9,000 | 6,885 | (6) | ||||||||||
10,867 | 8,868 | |||||||||||||||
Lytx Holdings, LLC | Research & Consulting Services | |||||||||||||||
3,500 Class B Units | — | 2,053 | (20) | |||||||||||||
— | 2,053 |
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)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | ||||||||||
Maravai Intermediate Holdings, LLC | Biotechnology | |||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 8/2/2025 | 6.06 | % | $ | 11,850 | $ | 11,732 | $ | 11,820 | (6)(20) | |||||||
11,732 | 11,820 | |||||||||||||||
Mayfield Agency Borrower Inc. | Property & Casualty Insurance | |||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 2/28/2025 | 6.30 | % | 29,044 | 28,128 | 27,229 | (6) | ||||||||||
Second Lien Term Loan, LIBOR+8.50% cash due 3/2/2026 | 10.30 | % | 35,925 | 35,509 | 36,262 | (6)(20) | ||||||||||
63,637 | 63,491 | |||||||||||||||
McAfee, LLC | Systems Software | |||||||||||||||
First Lien Term Loan, LIBOR+3.75% cash due 9/30/2024 | 5.55 | % | 10,929 | 10,860 | 10,990 | (6) | ||||||||||
Second Lien Term Loan, LIBOR+8.50% cash due 9/29/2025 | 10.30 | % | 7,000 | 7,032 | 7,063 | (6) | ||||||||||
17,892 | 18,053 | |||||||||||||||
MHE Intermediate Holdings, LLC | Diversified Support Services | |||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 3/8/2024 | 6.94 | % | 2,925 | 2,906 | 2,866 | (6)(20) | ||||||||||
2,906 | 2,866 | |||||||||||||||
Mindbody, Inc. | Internet Services & Infrastructure | |||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 2/14/2025 | 8.79 | % | 28,952 | 28,458 | 28,431 | (6)(20) | ||||||||||
First Lien Revolver, LIBOR+7.00% cash due 2/14/2025 | — | (52 | ) | (55 | ) | (6)(19)(20) | ||||||||||
28,406 | 28,376 | |||||||||||||||
Ministry Brands, LLC | Application Software | |||||||||||||||
First Lien Revolver, LIBOR+5.00% cash due 12/2/2022 | 6.95 | % | 200 | 191 | 200 | (6)(19)(20) | ||||||||||
Second Lien Term Loan, LIBOR+9.25% cash due 6/2/2023 | 11.08 | % | 7,056 | 7,001 | 7,056 | (6)(20) | ||||||||||
Second Lien Delayed Draw Term Loan, LIBOR+9.25% cash due 6/2/2023 | 11.08 | % | 1,944 | 1,928 | 1,944 | (6)(20) | ||||||||||
9,120 | 9,200 | |||||||||||||||
Numericable SFR SA | Integrated Telecommunication Services | |||||||||||||||
Fixed Rate Bond, 7.38% cash due 5/1/2026 | 5,000 | 5,101 | 5,377 | (11) | ||||||||||||
5,101 | 5,377 | |||||||||||||||
OmniSYS Acquisition Corporation | Diversified Support Services | |||||||||||||||
100,000 Common Units in OSYS Holdings, LLC | 1,000 | 698 | (20) | |||||||||||||
1,000 | 698 | |||||||||||||||
Onvoy, LLC | Integrated Telecommunication Services | |||||||||||||||
Second Lien Term Loan, LIBOR+10.50% cash due 2/10/2025 | 12.30 | % | 16,750 | 16,750 | 13,187 | (6)(20) | ||||||||||
19,666.67 Class A Units in GTCR Onvoy Holdings, LLC | 1,967 | — | (20) | |||||||||||||
13,664.73 Series 3 Class B Units in GTCR Onvoy Holdings, LLC | — | — | (20) | |||||||||||||
18,717 | 13,187 | |||||||||||||||
P2 Upstream Acquisition Co. | Application Software | |||||||||||||||
First Lien Term Loan, LIBOR+3.75% cash due 10/30/2020 | 5.66 | % | 2,968 | 2,938 | 2,960 | (6) | ||||||||||
First Lien Revolver, LIBOR+4.00% cash due 2/1/2020 | — | — | (25 | ) | (6)(19) | |||||||||||
2,938 | 2,935 | |||||||||||||||
PaySimple, Inc. | Data Processing & Outsourced Services | |||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 8/23/2025 | 7.30 | % | 37,656 | 36,943 | 37,467 | (6)(20) | ||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 8/23/2025 | 7.28 | % | 3,548 | 3,316 | 3,487 | (6)(19)(20) | ||||||||||
40,259 | 40,954 |
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)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | ||||||||||
Pingora MSR Opportunity Fund I-A, LP | Thrifts & Mortgage Finance | |||||||||||||||
1.86% limited partnership interest | $ | 938 | $ | 395 | (11)(16)(19) | |||||||||||
938 | 395 | |||||||||||||||
PLATO Learning Inc. | Education Services | |||||||||||||||
Unsecured Senior PIK Note, 8.50% PIK due 12/9/2021 | $ | 2,907 | 2,434 | — | (20)(22) | |||||||||||
Unsecured Junior PIK Note, 10.00% PIK due 12/9/2021 | 13,924 | 10,227 | — | (20)(22) | ||||||||||||
Unsecured Revolver, 5.00% cash due 12/9/2021 | 2,731 | 2,524 | 461 | (19)(20)(21) | ||||||||||||
126,127.80 Class A Common Units of Edmentum | 126 | — | (20) | |||||||||||||
15,311 | 461 | |||||||||||||||
ProFrac Services, LLC | Industrial Machinery | |||||||||||||||
First Lien Term Loan, LIBOR+6.25% cash due 9/15/2023 | 8.14 | % | 16,175 | 16,055 | 15,771 | (6)(20) | ||||||||||
16,055 | 15,771 | |||||||||||||||
Project Boost Purchaser, LLC | Application Software | |||||||||||||||
First Lien Term Loan, LIBOR+3.50% cash due 6/1/2026 | 5.30 | % | 6,983 | 6,913 | 7,025 | (6) | ||||||||||
Second Lien Term Loan, LIBOR+8.00% cash due 5/9/2027 | 9.80 | % | 3,750 | 3,750 | 3,741 | (6)(20) | ||||||||||
— | 10,663 | 10,766 | ||||||||||||||
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 | 8.29 | % | 3,065 | 3,038 | 2,911 | (6)(20) | ||||||||||
3,038 | 2,911 | |||||||||||||||
Scilex Pharmaceuticals Inc. | Pharmaceuticals | |||||||||||||||
Fixed Rate Zero Coupon Bond due 8/15/2026 | 15,833 | 11,406 | 11,637 | (20) | ||||||||||||
11,406 | 11,637 | |||||||||||||||
ShareThis, Inc. | Application Software | |||||||||||||||
345,452 Series C Preferred Stock Warrants (exercise price $3.0395) expiration date 3/4/2024 | 367 | 2 | (20) | |||||||||||||
367 | 2 | |||||||||||||||
Sorrento Therapeutics, Inc. | Biotechnology | |||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 11/7/2023 | 9.00 | % | 30,000 | 28,248 | 30,000 | (6)(11)(20) | ||||||||||
First Lien Delayed Draw Term Loan, LIBOR+7.00% cash due 11/7/2023 | — | (58 | ) | (69 | ) | (6)(11)(19)(20) | ||||||||||
1,572,246 Common Stock Warrants (exercise price $3.28) expiration date 5/7/2029 | 1,750 | 3,176 | (11)(20) | |||||||||||||
333,326 Common Stock Warrants (exercise price $3.94) expiration date 11/3/2029 | — | 643 | (11)(20) | |||||||||||||
500,000 Common Stock Warrants (exercise price $3.26) expiration date 6/6/2030 | — | 900 | (11)(20) | |||||||||||||
29,940 | 34,650 | |||||||||||||||
Supermoose Borrower, LLC | Application Software | |||||||||||||||
First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025 | 5.55 | % | 2,494 | 2,300 | 2,388 | (6) | ||||||||||
2,300 | 2,388 | |||||||||||||||
Swordfish Merger Sub LLC | Auto Parts & Equipment | |||||||||||||||
Second Lien Term Loan, LIBOR+6.75% cash due 2/2/2026 | 8.49 | % | 12,500 | 12,452 | 12,156 | (6)(20) | ||||||||||
12,452 | 12,156 |
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)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | ||||||||||
TerSera Therapeutics, LLC | Pharmaceuticals | |||||||||||||||
Second Lien Term Loan, LIBOR+9.25% cash due 3/30/2024 | 11.20 | % | $ | 29,663 | $ | 29,150 | $ | 29,380 | (6)(20) | |||||||
668,879 Common Units of TerSera Holdings LLC | 1,961 | 2,859 | (20) | |||||||||||||
31,111 | 32,239 | |||||||||||||||
Thunder Finco (US), LLC | Movies & Entertainment | |||||||||||||||
Second Lien Term Loan, LIBOR+8.00% cash due 11/26/2027 | 9.70 | % | 12,500 | 12,188 | 12,250 | (6)(11)(20) | ||||||||||
12,188 | 12,250 | |||||||||||||||
TigerConnect, Inc. | Application Software | |||||||||||||||
299,110 Series B Preferred Stock Warrants (exercise price $1.3373) expiration date 12/8/2024 | 60 | 560 | (20) | |||||||||||||
60 | 560 | |||||||||||||||
Transact Holdings Inc. | Application Software | |||||||||||||||
First Lien Term Loan, LIBOR+4.75% cash due 4/30/2026 | 6.55 | % | 6,983 | 6,878 | 6,956 | (6)(20) | ||||||||||
6,878 | 6,956 | |||||||||||||||
Truck Hero, Inc. | Auto Parts & Equipment | |||||||||||||||
Second Lien Term Loan, LIBOR+8.25% cash due 4/21/2025 | 10.05 | % | 21,500 | 21,191 | 20,640 | (6)(20) | ||||||||||
21,191 | 20,640 | |||||||||||||||
Uber Technologies, Inc. | Application Software | |||||||||||||||
First Lien Term Loan, LIBOR+4.00% cash due 4/4/2025 | 5.74 | % | 5,675 | 5,639 | 5,681 | (6) | ||||||||||
5,639 | 5,681 | |||||||||||||||
Uniti Group LP | Specialized REITs | |||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 10/24/2022 | 6.80 | % | 9,878 | 9,688 | 9,725 | (6)(11) | ||||||||||
9,688 | 9,725 | |||||||||||||||
UOS, LLC | Trading Companies & Distributors | |||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 4/18/2023 | 7.30 | % | 10,215 | 10,322 | 10,318 | (6) | ||||||||||
10,322 | 10,318 | |||||||||||||||
Veritas US Inc. | Application Software | |||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 1/27/2023 | 6.30 | % | 31,887 | 32,118 | 30,789 | (6) | ||||||||||
32,118 | 30,789 | |||||||||||||||
Verscend Holding Corp. | Health Care Technology | |||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 8/27/2025 | 6.30 | % | 24,688 | 24,569 | 24,914 | (6) | ||||||||||
Fixed Rate Bond, 9.75% cash due 8/15/2026 | 12,000 | 12,022 | 13,155 | |||||||||||||
36,591 | 38,069 | |||||||||||||||
Vertex Aerospace Services Corp. | Aerospace & Defense | |||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 6/29/2025 | 6.30 | % | 15,760 | 15,698 | 15,859 | (6) | ||||||||||
15,698 | 15,859 | |||||||||||||||
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 | |||||||||||||||
Windstream Services, LLC | Integrated Telecommunication Services | |||||||||||||||
Fixed Rate Bond, 8.63% cash due 10/31/2025 | 1,460 | 1,420 | 1,405 | (11) | ||||||||||||
1,420 | 1,405 | |||||||||||||||
WP CPP Holdings, LLC | Aerospace & Defense | |||||||||||||||
Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026 | 9.68 | % | 15,000 | 14,879 | 14,822 | (6) | ||||||||||
14,879 | 14,822 | |||||||||||||||
xMatters, Inc. | Application Software | |||||||||||||||
600,000 Common Stock Warrants (exercise price $0.593333) expiration date 2/26/2025 | 709 | 273 | (20) | |||||||||||||
709 | 273 |
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)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | ||||||||||
Yeti Holdings, Inc. | Leisure Products | |||||||||||||||
417,866 Shares Common Stock | $ | — | $ | 14,533 | ||||||||||||
— | 14,533 | |||||||||||||||
Zep Inc. | Specialty Chemicals | |||||||||||||||
First Lien Term Loan, LIBOR+4.00% cash due 8/12/2024 | 5.94 | % | $ | 1,970 | 1,898 | 1,533 | (6) | |||||||||
Second Lien Term Loan, LIBOR+8.25% cash due 8/11/2025 | 10.19 | % | 30,000 | 29,894 | 21,720 | (6)(20) | ||||||||||
31,792 | 23,253 | |||||||||||||||
Zephyr Bidco Limited | Specialized Finance | |||||||||||||||
Second Lien Term Loan, UK LIBOR+7.50% cash due 7/23/2026 | 8.21 | % | £ | 18,000 | 23,656 | 23,716 | (6)(11) | |||||||||
23,656 | 23,716 | |||||||||||||||
Total Non-Control/Non-Affiliate Investments (136.0% of net assets) | $ | 1,324,201 | $ | 1,265,993 | ||||||||||||
Total Portfolio Investments (157.6% of net assets) | $ | 1,538,258 | $ | 1,467,627 | ||||||||||||
Cash and Cash Equivalents | ||||||||||||||||
JP Morgan Prime Money Market Fund, Institutional Shares | $ | 16,018 | $ | 16,018 | ||||||||||||
Other cash accounts | 5,509 | 5,509 | ||||||||||||||
Total Cash and Cash Equivalents (2.3% of net assets) | $ | 21,527 | $ | 21,527 | ||||||||||||
Total Portfolio Investments and Cash and Cash Equivalents (159.9% of net assets) | $ | 1,559,785 | $ | 1,489,154 |
Derivative Instrument | Notional Amount to be Purchased | Notional Amount to be Sold | Maturity Date | Counterparty | Cumulative Unrealized Appreciation /(Depreciation) | |||||||||||
Foreign currency forward contract | $ | 23,037 | £ | 17,835 | 2/18/2020 | JPMorgan Chase Bank, N.A. | $ | (622 | ) | |||||||
Foreign currency forward contract | $ | 19,028 | € | 17,200 | 2/28/2020 | JPMorgan Chase Bank, N.A. | (350 | ) | ||||||||
$ | (972 | ) |
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)(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)(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 | 34,984 | (20) | |||||||||||||
34,984 | 34,984 | |||||||||||||||
First Star Speir Aviation Limited | Airlines | (10) | ||||||||||||||
First Lien Term Loan, 9.00% cash due 12/15/2020 | $ | 11,510 | 2,140 | 11,510 | (11)(20) | |||||||||||
100% equity interest | 8,500 | 4,630 | (11)(12)(20) | |||||||||||||
10,640 | 16,140 | |||||||||||||||
New IPT, Inc. | Oil & gas equipment services | |||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 3/17/2021 | 7.10 | % | 3,256 | 3,256 | 3,256 | (6)(20) | ||||||||||
First Lien Revolver, LIBOR+5.00% cash due 3/17/2021 | 7.10 | % | 1,009 | 1,009 | 1,009 | (6)(19)(20) | ||||||||||
50.087 Class A Common Units in New IPT Holdings, LLC | — | 2,903 | (20) | |||||||||||||
4,265 | 7,168 | |||||||||||||||
Senior Loan Fund JV I, LLC | Multi-sector holdings | (14)(15) | ||||||||||||||
Subordinated Debt, LIBOR+7.00% cash due 12/29/2028 | 9.39 | % | 96,250 | 96,250 | 96,250 | (6)(11)(20) | ||||||||||
87.5% LLC equity interest | 49,322 | 30,052 | (11)(16)(19) | |||||||||||||
145,572 | 126,302 | |||||||||||||||
Thruline Marketing, Inc. | Advertising | |||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 4/3/2022 | 9.10 | % | 18,146 | 18,146 | 18,146 | (6)(20) | ||||||||||
First Lien Revolver, LIBOR+7.75% cash due 4/3/2022 | — | — | — | (6)(19)(20) | ||||||||||||
9,073 Class A Units in FS AVI Holdco, LLC | 10,648 | 6,438 | (20) | |||||||||||||
28,794 | 24,584 | |||||||||||||||
Total Control Investments (22.5% of net assets) | $ | 224,255 | $ | 209,178 | ||||||||||||
Affiliate Investments | (17) | |||||||||||||||
Assembled Brands Capital LLC | Specialized finance | |||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+6.00% cash due 10/17/2023 | 8.10 | % | $ | 5,585 | $ | 5,585 | $ | 5,585 | (6)(19)(20) | |||||||
1,609,201 Class A Units | 765 | 782 | (20) | |||||||||||||
1,019,168.80 Preferred Units, 6% | 1,019 | 1,019 | (20) | |||||||||||||
70,424.5641 Class A Warrants (exercise price $3.3778) expiration date 9/9/2029 | — | — | (20) | |||||||||||||
7,369 | 7,386 | |||||||||||||||
Caregiver Services, Inc. | Healthcare services | |||||||||||||||
1,080,399 shares of Series A Preferred Stock, 10% | 1,080 | 1,784 | (20) | |||||||||||||
1,080 | 1,784 | |||||||||||||||
Total Affiliate Investments (1.0% of net assets) | $ | 8,449 | $ | 9,170 | ||||||||||||
Non-Control/Non-Affiliate Investments | (18) | |||||||||||||||
4 Over International, LLC | Commercial printing | |||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 6/7/2022 | 8.04 | % | $ | 5,799 | $ | 5,764 | $ | 5,688 | (6)(20) | |||||||
First Lien Revolver, PRIME+5.00% cash due 6/7/2021 | 10.00 | % | 255 | 238 | 212 | (6)(19)(20) | ||||||||||
6,002 | 5,900 | |||||||||||||||
99 Cents Only Stores LLC | General merchandise stores | |||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash 1.50% PIK due 1/13/2022 | 7.10 | % | 19,326 | 18,946 | 16,934 | (6) | ||||||||||
18,946 | 16,934 | |||||||||||||||
Access CIG, LLC | Diversified support services | |||||||||||||||
Second Lien Term Loan, LIBOR+7.75% cash due 2/27/2026 | 10.07 | % | 15,000 | 14,892 | 15,000 | (6)(20) | ||||||||||
14,892 | 15,000 |
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)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | ||||||||||
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 | 12,677 | (20) | |||||||||||||
13,611 | 12,677 | |||||||||||||||
AI Ladder (Luxembourg) Subco S.a.r.l. | Electrical components & equipment | |||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 7/9/2025 | 6.60 | % | $ | 21,752 | 21,210 | 20,032 | (6)(11) | |||||||||
21,210 | 20,032 | |||||||||||||||
AI Sirona (Luxembourg) Acquisition S.a.r.l. | Pharmaceuticals | |||||||||||||||
Second Lien Term Loan, EURIBOR+7.25% cash due 7/10/2026 | 7.25 | % | € | 17,500 | 20,035 | 18,673 | (6)(11) | |||||||||
20,035 | 18,673 | |||||||||||||||
Air Medical Group Holdings, Inc. | Healthcare services | |||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 3/14/2025 | 6.29 | % | $ | 6,321 | 6,192 | 5,936 | (6) | |||||||||
6,192 | 5,936 | |||||||||||||||
AirStrip Technologies, Inc. | Application software | |||||||||||||||
22,858.71 Series C-1 Preferred Stock Warrants (exercise price $34.99757) expiration date 5/11/2025 | 90 | — | (20) | |||||||||||||
90 | — | |||||||||||||||
Airxcel, Inc. | Household appliances | |||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 4/28/2025 | 6.54 | % | 7,900 | 7,837 | 7,614 | (6) | ||||||||||
7,837 | 7,614 | |||||||||||||||
Aldevron, L.L.C. | Biotechnology | |||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 9/20/2026 | 6.36 | % | 8,000 | 7,920 | 8,040 | (6) | ||||||||||
7,920 | 8,040 | |||||||||||||||
Algeco Scotsman Global Finance Plc | Construction & engineering | |||||||||||||||
Fixed Rate Bond, 8.00% cash due 2/15/2023 | 23,915 | 23,443 | 23,982 | (11) | ||||||||||||
23,443 | 23,982 | |||||||||||||||
Allen Media, LLC | Movies & entertainment | |||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 8/30/2023 | 8.60 | % | 19,238 | 18,858 | 18,613 | (6)(20) | ||||||||||
18,858 | 18,613 | |||||||||||||||
Altice France S.A. | Integrated telecommunication services | |||||||||||||||
Fixed Rate Bond, 8.13% cash due 1/15/2024 | 3,000 | 3,045 | 3,113 | (11) | ||||||||||||
Fixed Rate Bond, 7.63% cash due 2/15/2025 | 2,000 | 2,012 | 2,083 | (11) | ||||||||||||
5,057 | 5,196 | |||||||||||||||
Alvotech Holdings S.A. | Biotechnology | |||||||||||||||
Fixed Rate Bond 15% PIK Note A due 12/13/2023 | 14,800 | 16,304 | 18,089 | (11)(13)(20) | ||||||||||||
Fixed Rate Bond 15% PIK Note B due 12/13/2023 | 14,800 | 16,304 | 16,609 | (11)(13)(20) | ||||||||||||
32,608 | 34,698 | |||||||||||||||
Ancile Solutions, Inc. | Application software | |||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 6/30/2021 | 9.10 | % | 8,677 | 8,591 | 8,504 | (6)(20) | ||||||||||
8,591 | 8,504 | |||||||||||||||
Apptio, Inc. | Application software | |||||||||||||||
First Lien Term Loan, LIBOR+7.25% cash due 1/10/2025 | 9.56 | % | 23,764 | 23,340 | 23,325 | (6)(20) | ||||||||||
First Lien Revolver, LIBOR+7.25% cash due 1/10/2025 | — | (27 | ) | (28 | ) | (6)(19)(20) | ||||||||||
23,313 | 23,297 | |||||||||||||||
Asurion, LLC | Property & casualty insurance | |||||||||||||||
Second Lien Term Loan, LIBOR+6.50% cash due 8/4/2025 | 8.54 | % | 22,000 | 21,954 | 22,382 | (6) | ||||||||||
21,954 | 22,382 |
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)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | ||||||||||
Avantor Inc. | Healthcare distributors | |||||||||||||||
Fixed Rate Bond, 9.00% cash due 10/1/2025 | $ | 3,000 | $ | 2,975 | $ | 3,379 | ||||||||||
2,975 | 3,379 | |||||||||||||||
Belk Inc. | Department stores | |||||||||||||||
First Lien Term Loan, LIBOR+4.75% cash due 12/12/2022 | 6.80 | % | 653 | 585 | 480 | (6) | ||||||||||
585 | 480 | |||||||||||||||
Blackhawk Network Holdings, Inc. | Data processing & outsourced services | |||||||||||||||
Second Lien Term Loan, LIBOR+7.00% cash due 6/15/2026 | 9.06 | % | 26,250 | 26,013 | 26,283 | (6) | ||||||||||
26,013 | 26,283 | |||||||||||||||
Boxer Parent Company Inc. | Systems software | |||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 10/2/2025 | 6.29 | % | 13,915 | 13,798 | 13,416 | (6) | ||||||||||
13,798 | 13,416 | |||||||||||||||
California Pizza Kitchen, Inc. | Restaurants | |||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 8/23/2022 | 8.53 | % | 3,122 | 3,097 | 2,800 | (6) | ||||||||||
3,097 | 2,800 | |||||||||||||||
Cenegenics, LLC | Healthcare services | (23) | ||||||||||||||
First Lien Term Loan, 9.75% cash 2.00% PIK due 9/30/2019 | 29,781 | 27,738 | — | (20)(21) | ||||||||||||
First Lien Revolver, 15.00% cash due 9/30/2019 | 2,203 | 2,203 | — | (20)(21) | ||||||||||||
452,914.87 Common Units in Cenegenics, LLC | 598 | — | (20) | |||||||||||||
345,380.141 Preferred Units in Cenegenics, LLC | 300 | — | (20) | |||||||||||||
30,839 | — | |||||||||||||||
CITGO Holding, Inc. | Oil & gas refining & marketing | |||||||||||||||
Fixed Rate Bond, 9.25% cash due 8/1/2024 | 10,672 | 10,672 | 11,366 | |||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 8/1/2023 | 10,000 | 9,855 | 10,219 | (6) | ||||||||||||
20,527 | 21,585 | |||||||||||||||
CITGO Petroleum Corp. | Oil & gas refining & marketing | |||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 3/28/2024 | 7.10 | % | 9,950 | 9,851 | 10,012 | (6) | ||||||||||
9,851 | 10,012 | |||||||||||||||
Connect U.S. Finco LLC | Alternative carriers | |||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 9/23/2026 | 7.10 | % | 30,000 | 29,400 | 29,580 | (6)(11) | ||||||||||
29,400 | 29,580 | |||||||||||||||
Convergeone Holdings, Inc. | IT consulting & other services | |||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 1/4/2026 | 7.04 | % | 14,770 | 14,225 | 13,352 | (6) | ||||||||||
14,225 | 13,352 | |||||||||||||||
Conviva Inc. | Application software | |||||||||||||||
417,851 Series D Preferred Stock Warrants (exercise price $1.1966) expiration date 2/28/2021 | 105 | 411 | (20) | |||||||||||||
105 | 411 | |||||||||||||||
Covia Holdings Corporation | Oil & gas equipment services | |||||||||||||||
First Lien Term Loan, LIBOR+4.00% cash due 6/1/2025 | 6.31 | % | 7,900 | 7,900 | 6,484 | (6)(11) | ||||||||||
7,900 | 6,484 | |||||||||||||||
DigiCert, Inc. | Internet services & infrastructure | |||||||||||||||
First Lien Term Loan, LIBOR+4.00% cash due 10/31/2024 | 6.04 | % | 4,222 | 4,184 | 4,221 | (6) | ||||||||||
4,184 | 4,221 | |||||||||||||||
Dominion Diagnostics, LLC | Healthcare services | (23) | ||||||||||||||
Subordinated Term Loan, 11.00% cash 1.00% PIK due 10/18/2019 | 20,273 | 14,281 | 2,890 | (20)(21) | ||||||||||||
First Lien Term Loan, PRIME+4.00% cash due 4/8/2019 | 9.00 | % | 45,691 | 45,691 | 45,691 | (6)(20) | ||||||||||
First Lien Revolver, PRIME+4.00% cash due 4/8/2019 | 9.00 | % | 2,090 | 2,090 | 2,090 | (6)(20) | ||||||||||
62,062 | 50,671 |
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)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | ||||||||||
The Dun & Bradstreet Corporation | Research & consulting services | |||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 2/6/2026 | 7.05 | % | $ | 10,000 | $ | 9,817 | $ | 10,074 | (6) | |||||||
Fixed Rate Bond 6.875% cash due 8/15/2026 | 5,000 | 5,000 | 5,459 | |||||||||||||
14,817 | 15,533 | |||||||||||||||
Eagleview Technology Corporation | Application software | |||||||||||||||
Second Lien Term Loan, LIBOR+7.50% cash due 8/14/2026 | 9.55 | % | 12,000 | 11,880 | 11,520 | (6)(20) | ||||||||||
11,880 | 11,520 | |||||||||||||||
EHR Canada, LLC | Food retail | |||||||||||||||
First Lien Term Loan, LIBOR+8.00% cash due 9/28/2020 | 10.10 | % | 14,611 | 14,473 | 14,903 | (6)(20) | ||||||||||
14,473 | 14,903 | |||||||||||||||
EOS Fitness Opco Holdings, LLC | Leisure facilities | |||||||||||||||
487.5 Class A Preferred Units, 12% | 488 | 855 | (20) | |||||||||||||
12,500 Class B Common Units | — | 934 | (20) | |||||||||||||
488 | 1,789 | |||||||||||||||
Equitrans Midstream Corp. | Oil & gas storage & transportation | |||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 1/31/2024 | 6.55 | % | 11,910 | 11,603 | 11,926 | (6)(11) | ||||||||||
11,603 | 11,926 | |||||||||||||||
ExamSoft Worldwide, Inc. | Application software | |||||||||||||||
180,707 Class C Units in ExamSoft Investor LLC | 181 | — | (20) | |||||||||||||
181 | — | |||||||||||||||
GI Chill Acquisition LLC | Managed healthcare | |||||||||||||||
First Lien Term Loan, LIBOR+4.00% cash due 8/6/2025 | 6.10 | % | 17,820 | 17,731 | 17,775 | (6)(20) | ||||||||||
Second Lien Term Loan, LIBOR+7.50% cash due 8/6/2026 | 9.60 | % | 10,000 | 9,914 | 10,000 | (6)(20) | ||||||||||
27,645 | 27,775 | |||||||||||||||
GKD Index Partners, LLC | Specialized finance | |||||||||||||||
First Lien Term Loan, LIBOR+7.25% cash due 6/29/2023 | 9.35 | % | 22,402 | 22,235 | 22,108 | (6)(20) | ||||||||||
First Lien Revolver, LIBOR+7.25% cash due 6/29/2023 | — | (9 | ) | (15 | ) | (6)(19)(20) | ||||||||||
22,226 | 22,093 | |||||||||||||||
GoodRx, Inc. | Interactive media & services | |||||||||||||||
Second Lien Term Loan, LIBOR+7.50% cash due 10/12/2026 | 9.54 | % | 22,222 | 21,805 | 22,500 | (6)(20) | ||||||||||
21,805 | 22,500 | |||||||||||||||
Guidehouse LLP | Research & consulting services | |||||||||||||||
Second Lien Term Loan, LIBOR+7.50% cash due 5/1/2026 | 9.54 | % | 20,000 | 19,917 | 19,750 | (6) | ||||||||||
19,917 | 19,750 | |||||||||||||||
HealthEdge Software, Inc. | Application software | |||||||||||||||
482,453 Series A-3 Preferred Stock Warrants (exercise price $1.450918) expiration date 9/30/2023 | 213 | 757 | (20) | |||||||||||||
213 | 757 | |||||||||||||||
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 | 9.13 | % | 14,209 | 13,027 | 13,286 | (6)(20) | ||||||||||
13,027 | 13,286 | |||||||||||||||
iCIMs, Inc. | Application software | |||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 9/12/2024 | 8.56 | % | 16,718 | 16,436 | 16,438 | (6)(20) | ||||||||||
First Lien Revolver, LIBOR+6.50% cash due 9/12/2024 | — | (15 | ) | (15 | ) | (6)(19)(20) | ||||||||||
16,421 | 16,423 |
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)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | ||||||||||
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 | — | |||||||||||||||
Kellermeyer Bergensons Services, LLC | Environmental & facilities services | |||||||||||||||
Second Lien Term Loan, LIBOR+8.50% cash due 4/29/2022 | 10.77 | % | $ | 6,105 | 5,940 | 5,937 | (6)(20) | |||||||||
5,940 | 5,937 | |||||||||||||||
L Squared Capital Partners LLC | Multi-sector holdings | |||||||||||||||
2.00% limited partnership interest | 864 | 2,237 | (11)(16) | |||||||||||||
864 | 2,237 | |||||||||||||||
Lanai Holdings III, Inc. | Healthcare distributors | |||||||||||||||
First Lien Term Loan, LIBOR+4.75% cash due 8/29/2022 | 7.01 | % | 19,892 | 19,586 | 18,583 | (6) | ||||||||||
19,586 | 18,583 | |||||||||||||||
Lannett Company, Inc. | Pharmaceuticals | |||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 11/25/2020 | 7.04 | % | 762 | 762 | 759 | (6)(11) | ||||||||||
762 | 759 | |||||||||||||||
Lift Brands Holdings, Inc. | Leisure facilities | |||||||||||||||
2,000,000 Class A Common Units in Snap Investments, LLC | 1,399 | 3,020 | (20) | |||||||||||||
1,399 | 3,020 | |||||||||||||||
Lightbox Intermediate, L.P. | Real estate services | |||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 5/9/2026 | 7.05 | % | 39,900 | 39,332 | 39,501 | (6)(20) | ||||||||||
39,332 | 39,501 | |||||||||||||||
Long's Drugs Incorporated | Pharmaceuticals | |||||||||||||||
50 Series A Preferred Shares in Long's Drugs Incorporated | 385 | 924 | (20) | |||||||||||||
25 Series B Preferred Shares in Long's Drugs Incorporated | 210 | 572 | (20) | |||||||||||||
595 | 1,496 | |||||||||||||||
LTI Holdings, Inc. | Auto parts & equipment | |||||||||||||||
Second Lien Term Loan, LIBOR+6.75% cash due 9/6/2026 | 8.79 | % | 9,000 | 9,000 | 8,246 | (6) | ||||||||||
9,000 | 8,246 | |||||||||||||||
Lytx Holdings, LLC | Research & consulting services | |||||||||||||||
3,500 Class B Units | — | 2,053 | (20) | |||||||||||||
— | 2,053 | |||||||||||||||
Maravai Intermediate Holdings, LLC | Biotechnology | |||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 8/2/2025 | 6.31 | % | 11,880 | 11,761 | 11,813 | (6)(20) | ||||||||||
11,761 | 11,813 | |||||||||||||||
Mayfield Agency Borrower Inc. | Property & casualty insurance | |||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 2/28/2025 | 6.54 | % | 15,892 | 15,630 | 15,481 | (6) | ||||||||||
Second Lien Term Loan, LIBOR+8.50% cash due 3/2/2026 | 10.54 | % | 35,925 | 35,492 | 36,285 | (6)(20) | ||||||||||
51,122 | 51,766 | |||||||||||||||
McAfee, LLC | Systems software | |||||||||||||||
First Lien Term Loan, LIBOR+3.75% cash due 9/30/2024 | 5.79 | % | 10,957 | 10,884 | 10,995 | (6) | ||||||||||
Second Lien Term Loan, LIBOR+8.50% cash due 9/29/2025 | 10.54 | % | 7,000 | 7,034 | 7,093 | (6) | ||||||||||
17,918 | 18,088 |
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)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | ||||||||||
MHE Intermediate Holdings, LLC | Diversified support services | |||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 3/8/2024 | 7.10 | % | $ | 2,932 | $ | 2,913 | $ | 2,874 | (6)(20) | |||||||
2,913 | 2,874 | |||||||||||||||
Mindbody, Inc. | Internet services & infrastructure | |||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 2/14/2025 | 9.06 | % | 28,952 | 28,434 | 28,402 | (6)(20) | ||||||||||
First Lien Revolver, LIBOR+7.00% cash due 2/15/2025 | — | (55 | ) | (58 | ) | (6)(19)(20) | ||||||||||
28,379 | 28,344 | |||||||||||||||
Ministry Brands, LLC | Application software | |||||||||||||||
Second Lien Term Loan, LIBOR+9.25% cash due 6/2/2023 | 11.34 | % | 7,056 | 6,997 | 7,056 | (6)(20) | ||||||||||
Second Lien Delayed Draw Term Loan, LIBOR+9.25% cash due 6/2/2023 | 11.34 | % | 1,944 | 1,927 | 1,944 | (6)(20) | ||||||||||
First Lien Revolver, LIBOR+5.00% cash due 12/2/2022 | 7.04 | % | 200 | 191 | 200 | (6)(19)(20) | ||||||||||
9,115 | 9,200 | |||||||||||||||
Navicure, Inc. | Healthcare technology | |||||||||||||||
Second Lien Term Loan, LIBOR+7.50% cash due 10/31/2025 | 9.54 | % | 14,500 | 14,389 | 14,573 | (6)(20) | ||||||||||
14,389 | 14,573 | |||||||||||||||
Numericable SFR SA | Integrated telecommunication services | |||||||||||||||
Fixed Rate Bond, 7.38% cash due 5/1/2026 | 5,000 | 5,104 | 5,380 | (11) | ||||||||||||
5,104 | 5,380 | |||||||||||||||
OmniSYS Acquisition Corporation | Diversified support services | |||||||||||||||
100,000 Common Units in OSYS Holdings, LLC | 1,000 | 750 | (20) | |||||||||||||
1,000 | 750 | |||||||||||||||
Onvoy, LLC | Integrated telecommunication services | |||||||||||||||
Second Lien Term Loan, LIBOR+10.50% cash due 2/10/2025 | 12.54 | % | 16,750 | 16,750 | 13,187 | (6)(20) | ||||||||||
19,666.67 Class A Units in GTCR Onvoy Holdings, LLC | 1,967 | — | (20) | |||||||||||||
13,664.73 Series 3 Class B Units in GTCR Onvoy Holdings, LLC | — | — | (20) | |||||||||||||
18,717 | 13,187 | |||||||||||||||
P2 Upstream Acquisition Co. | Application software | |||||||||||||||
First Lien Term Loan, LIBOR+4.00% cash due 10/30/2020 | 6.19 | % | 2,976 | 2,936 | 2,950 | (6) | ||||||||||
First Lien Revolver, LIBOR+4.00% cash due 2/1/2020 | — | — | (79 | ) | (6)(19) | |||||||||||
2,936 | 2,871 | |||||||||||||||
PaySimple, Inc. | Data processing & outsourced services | |||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 8/23/2025 | 7.55 | % | 37,750 | 37,004 | 37,184 | (6)(20) | ||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 8/23/2025 | — | (242 | ) | (184 | ) | (6)(19)(20) | ||||||||||
36,762 | 37,000 | |||||||||||||||
Pingora MSR Opportunity Fund I-A, LP | Thrift & mortgage finance | |||||||||||||||
1.86% limited partnership interest | 1,217 | 691 | (11)(16)(19) | |||||||||||||
1,217 | 691 | |||||||||||||||
PLATO Learning Inc. | Education services | |||||||||||||||
Unsecured Senior PIK Note, 8.5% PIK due 12/9/2021 | 2,845 | 2,434 | — | (20)(22) | ||||||||||||
Unsecured Junior PIK Note, 10% PIK due 12/9/2021 | 13,577 | 10,227 | — | (20)(22) | ||||||||||||
Unsecured Revolver, 5.00% cash due 12/9/2021 | 2,064 | 1,885 | (184 | ) | (19)(20)(21) | |||||||||||
126,127.80 Class A Common Units of Edmentum | 126 | — | (20) | |||||||||||||
14,672 | (184 | ) |
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)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | ||||||||||
Project Boost Purchaser, LLC | Application software | |||||||||||||||
First Lien Term Loan, LIBOR+3.50% cash due 6/1/2026 | 5.54 | % | $ | 7,000 | $ | 6,930 | $ | 6,964 | (6) | |||||||
Second Lien Term Loan, LIBOR+8.00% cash due 5/9/2027 | 10.14 | % | 3,750 | 3,750 | 3,750 | (6)(20) | ||||||||||
10,680 | 10,714 | |||||||||||||||
ProFrac Services, LLC | Industrial machinery | |||||||||||||||
First Lien Term Loan, LIBOR+6.25% cash due 9/15/2023 | 8.66 | % | 17,192 | 17,055 | 16,848 | (6)(20) | ||||||||||
17,055 | 16,848 | |||||||||||||||
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+6.00% cash due 2/28/2022 | 8.05 | % | 3,086 | 3,056 | 2,932 | (6)(20) | ||||||||||
3,056 | 2,932 | |||||||||||||||
Scilex Pharmaceuticals Inc. | Pharmaceuticals | |||||||||||||||
Fixed Rate Zero Coupon Bond due 8/15/2026 | 15,879 | 11,146 | 11,353 | (20) | ||||||||||||
11,146 | 11,353 | |||||||||||||||
ShareThis, Inc. | Application software | |||||||||||||||
345,452 Series C Preferred Stock Warrants (exercise price $3.0395) expiration date 3/4/2024 | 367 | 2 | (20) | |||||||||||||
367 | 2 | |||||||||||||||
Sorrento Therapeutics, Inc. | Biotechnology | |||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 11/7/2023 | 9.13 | % | 30,000 | 28,132 | 29,250 | (6)(11)(20) | ||||||||||
First Lien Delayed Draw Term Loan, LIBOR+7.00% cash due 11/7/2023 | (62 | ) | (69 | ) | (6)(11)(19)(20) | |||||||||||
Stock Warrants Strike (exercise price $3.28) expiration date 5/7/2029 | 1,750 | 1,667 | (11)(20) | |||||||||||||
Stock Warrants Strike (exercise price $3.94) expiration date 11/3/2029 | — | 320 | (11)(20) | |||||||||||||
29,820 | 31,168 | |||||||||||||||
Swordfish Merger Sub LLC | Auto parts & equipment | |||||||||||||||
Second Lien Term Loan, LIBOR+6.75% cash due 2/2/2026 | 8.79 | % | 12,500 | 12,450 | 12,135 | (6)(20) | ||||||||||
12,450 | 12,135 | |||||||||||||||
TerSera Therapeutics, LLC | Pharmaceuticals | |||||||||||||||
Second Lien Term Loan, LIBOR+9.25% cash due 3/30/2024 | 11.35 | % | 25,463 | 25,025 | 25,192 | (6)(20) | ||||||||||
Second Lien Delayed Draw Term Loan, LIBOR+9.25% cash due 12/31/2020 | — | (45 | ) | (6)(19)(20) | ||||||||||||
668,879 Common Units of TerSera Holdings LLC | 1,731 | 2,629 | (20) | |||||||||||||
26,756 | 27,776 | |||||||||||||||
TigerText, Inc. | Application software | |||||||||||||||
299,110 Series B Preferred Stock Warrants (exercise price $1.3373) expiration date 12/8/2024 | 60 | 560 | (20) | |||||||||||||
60 | 560 | |||||||||||||||
Transact Holdings Inc. | Application software | |||||||||||||||
First Lien Term Loan, LIBOR+4.75% cash due 4/30/2026 | 7.01 | % | 7,000 | 6,895 | 6,965 | (6) | ||||||||||
6,895 | 6,965 |
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)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | ||||||||||
Tribe Buyer LLC | Human resource & employment services | |||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 2/16/2024 | 6.54 | % | $ | 830 | $ | 830 | $ | 775 | (6)(20) | |||||||
830 | 775 | |||||||||||||||
Truck Hero, Inc. | Auto parts & equipment | |||||||||||||||
Second Lien Term Loan, LIBOR+8.25% cash due 4/21/2025 | 10.29 | % | 21,500 | 21,191 | 20,103 | (6)(20) | ||||||||||
21,191 | 20,103 | |||||||||||||||
Uber Technologies, Inc. | Application software | |||||||||||||||
First Lien Term Loan, LIBOR+4.00% cash due 4/4/2025 | 6.03 | % | 5,689 | 5,652 | 5,667 | (6) | ||||||||||
5,652 | 5,667 | |||||||||||||||
Uniti Group LP | Specialized REITs | |||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 10/24/2022 | 7.04 | % | 8,403 | 8,264 | 8,213 | (6)(11) | ||||||||||
8,264 | 8,213 | |||||||||||||||
UOS, LLC | Trading companies & distributors | |||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 4/18/2023 | 7.54 | % | 10,242 | 10,357 | 10,370 | (6) | ||||||||||
10,357 | 10,370 | |||||||||||||||
Veritas US Inc. | Application software | |||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 1/27/2023 | 6.60 | % | 34,200 | 34,468 | 32,413 | (6) | ||||||||||
34,468 | 32,413 | |||||||||||||||
Verscend Holding Corp. | Healthcare technology | |||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 8/27/2025 | 6.54 | % | 24,750 | 24,633 | 24,879 | (6) | ||||||||||
Fixed Rate Bond, 9.75% cash due 8/15/2026 | 12,000 | 12,022 | 12,823 | |||||||||||||
36,655 | 37,702 | |||||||||||||||
Vertex Aerospace Services Corp. | Aerospace & defense | |||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 6/29/2025 | 6.54 | % | 15,800 | 15,735 | 15,869 | (6) | ||||||||||
15,735 | 15,869 | |||||||||||||||
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 | |||||||||||||||
Windstream Services, LLC | Integrated telecommunication services | |||||||||||||||
Fixed Rate Bond, 8.63% cash due 10/31/2025 | 5,000 | 4,863 | 5,113 | (11) | ||||||||||||
4,863 | 5,113 | |||||||||||||||
WP CPP Holdings, LLC | Aerospace & defense | |||||||||||||||
Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026 | 10.01 | % | 15,000 | 14,874 | 14,937 | (6) | ||||||||||
14,874 | 14,937 | |||||||||||||||
xMatters, Inc. | Application software | |||||||||||||||
600,000 Common Stock Warrants (exercise price $0.593333) expiration date 2/26/2025 | 709 | 273 | (20) | |||||||||||||
709 | 273 | |||||||||||||||
Yeti Holdings, Inc. | Leisure products | |||||||||||||||
537,629 Shares Yeti Holdings, Inc. Common Stock | — | 15,054 | ||||||||||||||
— | 15,054 | |||||||||||||||
Zep Inc. | Specialty chemicals | |||||||||||||||
Second Lien Term Loan, LIBOR+8.25% cash due 8/11/2025 | 10.35 | % | 30,000 | 29,889 | 21,950 | (6)(20) | ||||||||||
First Lien Term Loan, LIBOR+4.00% cash due 8/12/2024 | 6.04 | % | 1,975 | 1,899 | 1,564 | (6) | ||||||||||
31,788 | 23,514 | |||||||||||||||
Zephyr Bidco Limited | Specialized finance | |||||||||||||||
Second Lien Term Loan, UK LIBOR+7.50% cash due 7/23/2026 | 8.21 | % | £ | 18,000 | 23,632 | 22,006 | (6)(11) | |||||||||
23,632 | 22,006 |
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)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | ||||||||||
Total Non-Control/Non-Affiliate Investments (131.1% of net assets) | $ | 1,280,310 | $ | 1,219,694 | ||||||||||||
Total Portfolio Investments (154.5% of net assets) | $ | 1,513,014 | $ | 1,438,042 | ||||||||||||
Cash and Cash Equivalents | ||||||||||||||||
JP Morgan Prime Money Market Fund, Institutional Shares | $ | 9,611 | $ | 9,611 | ||||||||||||
Other cash accounts | 5,795 | 5,795 | ||||||||||||||
Total Cash and Cash Equivalents (1.7% of net assets) | $ | 15,406 | $ | 15,406 | ||||||||||||
Total Portfolio Investments and Cash and Cash Equivalents (156.2% of net assets) | $ | 1,528,420 | $ | 1,453,448 |
Derivative Instrument | Notional Amount to be Purchased | Notional Amount to be Sold | Maturity Date | Counterparty | Cumulative Unrealized Appreciation /(Depreciation) | |||||||||||
Foreign currency forward contract | $ | 22,161 | £ | 17,910 | 10/15/2019 | JPMorgan Chase Bank, N.A. | $ | 76 | ||||||||
Foreign currency forward contract | $ | 19,193 | € | 17,150 | 11/29/2019 | JPMorgan Chase Bank, N.A. | 414 | |||||||||
$ | 490 |
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 |
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, 2019 | September 30, 2019 | |||||||||||||||
Cost | Fair Value | Cost | Fair Value | |||||||||||||
Investments in debt securities | $ | 1,299,156 | $ | 1,238,354 | $ | 1,274,367 | $ | 1,212,174 | ||||||||
Investments in equity securities | 93,530 | 100,800 | 93,075 | 99,566 | ||||||||||||
Debt investments in SLF JV I | 96,250 | 96,250 | 96,250 | 96,250 | ||||||||||||
Equity investment in SLF JV I | 49,322 | 32,223 | 49,322 | 30,052 | ||||||||||||
Total | $ | 1,538,258 | $ | 1,467,627 | $ | 1,513,014 | $ | 1,438,042 |
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 | % |
December 31, 2019 | September 30, 2019 | |||||||||||||
Fair Value | % of Debt Portfolio | Fair Value | % of Debt Portfolio | |||||||||||
Fixed rate debt securities, including debt investments in SLF JV I | $ | 125,672 | 9.42 | % | $ | 132,965 | 10.16 | % | ||||||
Floating rate debt securities, including debt investments in SLF JV I | 1,208,932 | 90.58 | 1,175,459 | 89.84 | ||||||||||
Total | $ | 1,334,604 | 100.00 | % | $ | 1,308,424 | 100.00 | % |
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) | $ | — | $ | 469,624 | $ | 697,632 | $ | — | $ | 1,167,256 | 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) | — | 59,000 | 108,348 | — | 167,348 | |||||||||||||||||||||||||||||||||||||||||||||||
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) | — | — | 38,909 | — | 38,909 | Investments in equity securities (preferred) | — | — | 29,731 | — | 29,731 | |||||||||||||||||||||||||||||||||||||||||
Investments in equity securities (common and warrants, including LLC equity interests of SLF JV I) | 14,533 | — | 44,645 | 34,936 | 94,114 | 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 | 14,533 | 528,624 | 889,534 | 34,936 | 1,467,627 | Total investments at fair value | — | 423,905 | 1,257,791 | 30,628 | 1,712,324 | |||||||||||||||||||||||||||||||||||||||||
Cash equivalents | 16,018 | — | — | — | 16,018 | Cash equivalents | 20,966 | — | — | — | 20,966 | |||||||||||||||||||||||||||||||||||||||||
Total assets at fair value | $ | 30,551 | $ | 528,624 | $ | 889,534 | $ | 34,936 | $ | 1,483,645 | Total assets at fair value | $ | 20,966 | $ | 423,905 | $ | 1,257,791 | $ | 30,628 | $ | 1,733,290 | |||||||||||||||||||||||||||||||
Derivative liability | $ | — | $ | 972 | $ | — | $ | — | $ | 972 | ||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | Derivative liabilities | $ | — | $ | 2,203 | $ | — | $ | — | $ | 2,203 | |||||||||||||||||||||||||||||||||||||||||
Total liabilities at fair value | $ | — | $ | 972 | $ | — | $ | — | $ | 972 | Total liabilities at fair value | $ | — | $ | 2,203 | $ | — | $ | — | $ | 2,203 |
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) | $ | — | $ | 477,542 | $ | 653,334 | $ | — | $ | 1,130,876 | Investments in debt securities (senior secured) | $ | — | $ | 418,806 | $ | 904,237 | $ | — | $ | 1,323,043 | |||||||||||||||||||||||||||||||
Investments in debt securities (subordinated, including debt investments in SLF JV I) | — | 67,239 | 110,309 | — | 177,548 | |||||||||||||||||||||||||||||||||||||||||||||||
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) | — | 35,660 | 126,152 | — | 161,812 | ||||||||||||||||||||||||||||||||||||||||||||||
Investments in equity securities (preferred) | — | — | 40,578 | — | 40,578 | Investments in equity securities (preferred) | — | — | 29,959 | — | 29,959 | |||||||||||||||||||||||||||||||||||||||||
Investments in equity securities (common and warrants, including LLC equity interests of SLF JV I) | 15,054 | — | 41,006 | 32,980 | 89,040 | 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 | $ | 15,054 | $ | 544,781 | $ | 845,227 | $ | 32,980 | $ | 1,438,042 | Total investments at fair value | 222 | 454,466 | 1,095,428 | 23,735 | 1,573,851 | ||||||||||||||||||||||||||||||||||||
Cash equivalents | $ | 9,611 | $ | — | $ | — | $ | — | $ | 9,611 | Cash equivalents | 35,248 | — | — | — | 35,248 | ||||||||||||||||||||||||||||||||||||
Derivative assets | — | 490 | — | — | 490 | Derivative assets | — | 223 | — | — | 223 | |||||||||||||||||||||||||||||||||||||||||
Total assets at fair value | $ | 24,665 | $ | 545,271 | $ | 845,227 | $ | 32,980 | $ | 1,448,143 | Total assets at fair value | $ | 35,470 | $ | 454,689 | $ | 1,095,428 | $ | 23,735 | $ | 1,609,322 |
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 | Investments | |||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Debt | Subordinated Debt (including debt investments in SLF JV I) | Preferred Equity | Common Equity and Warrants | Total | 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 | Fair value as of September 30, 2019 | $ | 653,334 | $ | 110,309 | $ | 40,578 | $ | 41,006 | $ | 845,227 | |||||||||||||||||||||||||||||||
Purchases | 96,395 | 959 | — | 1,328 | 98,682 | |||||||||||||||||||||||||||||||||||||||||||||||
New investments | New investments | 96,395 | 959 | — | 1,328 | 98,682 | ||||||||||||||||||||||||||||||||||||||||||||||
Sales and repayments | (73,292 | ) | (365 | ) | (1,388 | ) | (39 | ) | (75,084 | ) | Sales and repayments | (73,292) | (365) | (1,388) | (39) | (75,084) | ||||||||||||||||||||||||||||||||||||
Transfers in (a) | 33,252 | — | — | — | 33,252 | Transfers in (a) | 33,252 | — | — | — | 33,252 | |||||||||||||||||||||||||||||||||||||||||
Transfers out (a) | (15,000 | ) | — | — | — | (15,000 | ) | Transfers out (a) | (15,000) | — | — | — | (15,000) | |||||||||||||||||||||||||||||||||||||||
PIK interest income | 1,119 | — | — | — | 1,119 | PIK interest income | 1,119 | — | — | — | 1,119 | |||||||||||||||||||||||||||||||||||||||||
Accretion of OID | 1,421 | 305 | — | — | 1,726 | Accretion of OID | 1,421 | 305 | — | — | 1,726 | |||||||||||||||||||||||||||||||||||||||||
Net unrealized appreciation (depreciation) | 469 | (2,860 | ) | (1,076 | ) | 2,311 | (1,156 | ) | Net unrealized appreciation (depreciation) | 469 | (2,860) | (1,076) | 2,311 | (1,156) | ||||||||||||||||||||||||||||||||||||||
Net realized gains (losses) | (66 | ) | — | 795 | 39 | 768 | 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 | 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 investments 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 | ||||||||||||||||||||||||||||||||||||||||
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 | 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 and Warrants | Total | Secured Borrowings | |||||||||||||||||||
Fair value as of September 30, 2018 | $ | 638,971 | $ | 158,859 | $ | 4,918 | $ | 61,134 | $ | 863,882 | $ | 9,728 | ||||||||||||
Purchases | 89,999 | 533 | — | 2,514 | 93,046 | — | ||||||||||||||||||
Sales and repayments | (33,022 | ) | (15,749 | ) | — | (21,291 | ) | (70,062 | ) | (445 | ) | |||||||||||||
Transfers in (a) | 3,222 | — | — | — | 3,222 | — | ||||||||||||||||||
Transfers out (b) | — | (33,150 | ) | — | (12,073 | ) | (45,223 | ) | — | |||||||||||||||
PIK interest income | 645 | 95 | — | — | 740 | — | ||||||||||||||||||
Accretion of OID | 6,594 | 370 | — | — | 6,964 | — | ||||||||||||||||||
Net unrealized appreciation (depreciation) | 35,541 | 8,995 | 565 | (11,463 | ) | 33,638 | 19 | |||||||||||||||||
Net realized gains (losses) | (578 | ) | — | (495 | ) | 15,286 | 14,213 | — | ||||||||||||||||
Fair value as of December 31, 2018 | $ | 741,372 | $ | 119,953 | $ | 4,988 | $ | 34,107 | $ | 900,420 | $ | 9,302 | ||||||||||||
Net unrealized appreciation (depreciation) relating to Level 3 assets & liabilities still held as of December 31, 2018 and reported within net unrealized appreciation (depreciation) in the Consolidated Statement of Operations for the three months ended December 31, 2018 | $ | 35,508 | $ | 8,995 | $ | 70 | $ | 857 | $ | 45,430 | $ | 19 |
Asset | Fair Value | Valuation Technique | Unobservable Input | Range | Weighted Average (a) | Asset | Fair Value | Valuation Technique | Unobservable Input | Range | Weighted Average (a) | |||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Debt | $ | 268,558 | Market Yield | Market Yield | (b) | 6.7% | - | 18.0% | 12.0% | Senior Secured Debt | $ | 563,045 | Market Yield | Market Yield | (b) | 6.9% | - | 20.0% | 11.2% | |||||||||||||||||||||||||||||||||||||
63,446 | Enterprise Value | EBITDA Multiple | (c) | 1.8x | - | 8.0x | 7.2x | 35,289 | Enterprise Value | EBITDA Multiple | (c) | 5.8x | - | 6.8x | 6.3x | |||||||||||||||||||||||||||||||||||||||||
11,510 | Enterprise Value | Asset Multiple | (c) | 0.9x | - | 1.1x | 1.0x | 9,971 | Enterprise Value | Asset Multiple | (c) | 0.9x | - | 1.1x | 1.0x | |||||||||||||||||||||||||||||||||||||||||
54,702 | Transactions Precedent | Transaction Price | (d) | N/A | - | N/A | N/A | 79,113 | Transactions Precedent | Transaction Price | (d) | N/A | - | N/A | N/A | |||||||||||||||||||||||||||||||||||||||||
299,416 | Broker Quotations | Broker Quoted Price | (e) | N/A | - | N/A | N/A | 390,998 | Broker Quotations | Broker Quoted Price | (e) | N/A | - | N/A | N/A | |||||||||||||||||||||||||||||||||||||||||
Subordinated Debt | 11,637 | Market Yield | Market Yield | (b) | 13.0% | - | 15.0% | 14.0% | Subordinated Debt | 17,922 | Market Yield | Market Yield | (b) | 3.6% | - | 28.0% | 17.8% | |||||||||||||||||||||||||||||||||||||||
461 | Enterprise Value | EBITDA Multiple | (c) | 8.0x | - | 9.0x | 9.0x | |||||||||||||||||||||||||||||||||||||||||||||||||
SLF JV I Debt Investments | 96,250 | Enterprise Value | N/A | (f) | N/A | - | N/A | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||
SLF JV I Debt Investment | SLF JV I Debt Investment | 96,250 | Enterprise Value | N/A | (f) | N/A | - | N/A | N/A | |||||||||||||||||||||||||||||||||||||||||||||||
Preferred & Common Equity | 17,013 | Enterprise Value | Revenue Multiple | (c) | 0.8x | - | 8.2x | 3.1x | Preferred & Common Equity | 19,389 | Enterprise Value | Revenue Multiple | (c) | 0.9x | - | 6.4x | 3.0x | |||||||||||||||||||||||||||||||||||||||
54,548 | Enterprise Value | EBITDA Multiple | (c) | 1.8x | - | 17.0x | 6.9x | 43,735 | Enterprise Value | EBITDA Multiple | (c) | 3.0x | - | 15.0x | 7.7x | |||||||||||||||||||||||||||||||||||||||||
4,456 | Enterprise Value | Asset Multiple | (c) | 0.9x | - | 1.1x | 1.0x | 1,681 | Enterprise Value | Asset Multiple | (c) | 0.9x | - | 1.1x | 1.0x | |||||||||||||||||||||||||||||||||||||||||
7,537 | Transactions Precedent | Transaction Price | (d) | N/A | - | N/A | N/A | 398 | Broker Quotations | Broker Quoted Price | (e) | N/A | - | N/A | N/A | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 889,534 | Total | $ | 1,257,791 |
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 (a) | ||||||||||
Senior Secured Debt | $ | 314,026 | Market Yield | Market Yield | (b) | 6.7% | - | 18.0% | 11.2% | ||||||
17,452 | Enterprise Value | EBITDA Multiple | (c) | 1.8x | - | 6.0x | 5.0x | ||||||||
11,510 | Enterprise Value | Asset Multiple | (c) | 0.9x | 1.1x | 1.0x | |||||||||
3,750 | Transactions Precedent | Transaction Price | (d) | N/A | - | N/A | N/A | ||||||||
306,596 | Broker Quotations | Broker Quoted Price | (e) | N/A | - | N/A | N/A | ||||||||
Subordinated Debt | 11,353 | Market Yield | Market Yield | (b) | 13.0% | - | 15.0% | 14.0% | |||||||
2,706 | Enterprise Value | EBITDA Multiple | (c) | 6.5x | - | 8.5x | 7.5x | ||||||||
SLF JV I Debt Investments | 96,250 | Enterprise Value | N/A | (f) | N/A | - | N/A | N/A | |||||||
Preferred & Common Equity | 4,004 | Enterprise Value | Revenue Multiple | (c) | 0.8x | - | 8.9x | 3.3x | |||||||
72,950 | Enterprise Value | EBITDA Multiple | (c) | 1.8x | - | 17.0x | 6.9x | ||||||||
4,630 | Enterprise Value | Asset Multiple | (c) | 0.9x | - | 1.1x | 1.0x | ||||||||
Total | $ | 845,227 |
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 | $ | 377,825 | $ | 377,825 | $ | — | $ | — | $ | 377,825 | ||||||||||
Unsecured notes payable (net of unamortized financing costs) | 158,643 | 165,636 | — | 165,636 | — | |||||||||||||||
Total | $ | 536,468 | $ | 543,461 | $ | — | $ | 165,636 | $ | 377,825 |
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 |
Carrying Value | Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Credit facility payable | $ | 314,825 | $ | 314,825 | $ | — | $ | — | $ | 314,825 | ||||||||||
Unsecured notes payable (net of unamortized financing costs) | 158,542 | 164,966 | — | 164,966 | — | |||||||||||||||
Total | $ | 473,367 | $ | 479,791 | $ | — | $ | 164,966 | $ | 314,825 |
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, 2019 | September 30, 2019 | |||||||||||||
Cost: | % of Total Investments | % of Total Investments | ||||||||||||
Senior secured debt | $ | 1,201,904 | 78.13 | % | $ | 1,170,258 | 77.35 | % | ||||||
Subordinated debt | 97,252 | 6.32 | % | 104,109 | 6.88 | % | ||||||||
Debt investments in SLF JV I | 96,250 | 6.26 | % | 96,250 | 6.36 | % | ||||||||
Common equity and warrants | 53,680 | 3.49 | % | 52,630 | 3.48 | % | ||||||||
LLC equity interests of SLF JV I | 49,322 | 3.21 | % | 49,322 | 3.26 | % | ||||||||
Preferred equity | 39,850 | 2.59 | % | 40,445 | 2.67 | % | ||||||||
Total | $ | 1,538,258 | 100.00 | % | $ | 1,513,014 | 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, 2019 | September 30, 2019 | |||||||||||||||||||
Fair Value: | % of Total Investments | % of Net Assets | % of Total Investments | % of Net Assets | ||||||||||||||||
Senior secured debt | $ | 1,167,256 | 79.53 | % | 125.36 | % | $ | 1,130,876 | 78.64 | % | 121.51 | % | ||||||||
Debt investments in SLF JV I | 96,250 | 6.56 | % | 10.34 | % | 96,250 | 6.69 | % | 10.34 | % | ||||||||||
Subordinated debt | 71,098 | 4.84 | % | 7.64 | % | 81,298 | 5.65 | % | 8.74 | % | ||||||||||
Common equity and warrants | 61,891 | 4.22 | % | 6.65 | % | 58,988 | 4.10 | % | 6.34 | % | ||||||||||
Preferred equity | 38,909 | 2.65 | % | 4.18 | % | 40,578 | 2.82 | % | 4.36 | % | ||||||||||
LLC equity interests of SLF JV I | 32,223 | 2.20 | % | 3.46 | % | 30,052 | 2.10 | % | 3.23 | % | ||||||||||
Total | $ | 1,467,627 | 100.00 | % | 157.63 | % | $ | 1,438,042 | 100.00 | % | 154.52 | % |
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, 2019 | September 30, 2019 | |||||||||||||
Cost: | % of Total Investments | % of Total Investments | ||||||||||||
Northeast | $ | 453,327 | 29.48 | % | $ | 394,130 | 26.05 | % | ||||||
West | 353,969 | 23.01 | % | 377,810 | 24.97 | % | ||||||||
Midwest | 309,043 | 20.09 | % | 322,651 | 21.33 | % | ||||||||
International | 184,814 | 12.01 | % | 171,129 | 11.31 | % | ||||||||
Southeast | 121,130 | 7.87 | % | 131,522 | 8.69 | % | ||||||||
Southwest | 66,996 | 4.36 | % | 66,781 | 4.41 | % | ||||||||
Northwest | 35,214 | 2.29 | % | 35,193 | 2.33 | % | ||||||||
South | 13,765 | 0.89 | % | 13,798 | 0.91 | % | ||||||||
Total | $ | 1,538,258 | 100.00 | % | $ | 1,513,014 | 100.00 | % |
December 31, 2019 | September 30, 2019 | December 31, 2020 | September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value: | % of Total Investments | % of Net Assets | % of Total Investments | % of Net Assets | Fair Value: | % of Total Investments | % of Net Assets | % of Total Investments | % of Net Assets | |||||||||||||||||||||||||||||||||||||||||||||||||
Northeast | $ | 415,433 | 28.30 | % | 44.62 | % | $ | 358,328 | 24.93 | % | 38.50 | % | Northeast | $ | 510,433 | 29.81 | % | 52.89 | % | $ | 446,499 | 28.38 | % | 48.81 | % | |||||||||||||||||||||||||||||||||
West | 329,169 | 22.43 | % | 35.35 | % | 350,660 | 24.38 | % | 37.68 | % | West | 356,515 | 20.82 | % | 36.95 | % | 325,708 | 20.69 | % | 35.60 | % | |||||||||||||||||||||||||||||||||||||
Midwest | 284,471 | 19.38 | % | 30.56 | % | 297,433 | 20.68 | % | 31.97 | % | Midwest | 255,389 | 14.91 | % | 26.47 | % | 252,482 | 16.04 | % | 27.60 | % | |||||||||||||||||||||||||||||||||||||
International | 194,436 | 13.25 | % | 20.88 | % | 175,687 | 12.22 | % | 18.88 | % | International | 254,107 | 14.84 | % | 26.33 | % | 213,741 | 13.58 | % | 23.36 | % | |||||||||||||||||||||||||||||||||||||
Southeast | 113,286 | 7.72 | % | 12.17 | % | 125,306 | 8.71 | % | 13.46 | % | Southeast | 170,994 | 9.99 | % | 17.72 | % | 165,516 | 10.52 | % | 18.09 | % | |||||||||||||||||||||||||||||||||||||
South | South | 67,211 | 3.93 | % | 6.97 | % | 70,551 | 4.48 | % | 7.71 | % | |||||||||||||||||||||||||||||||||||||||||||||||
Southwest | 82,312 | 5.61 | % | 8.84 | % | 82,395 | 5.73 | % | 8.85 | % | Southwest | 63,526 | 3.71 | % | 6.58 | % | 65,647 | 4.17 | % | 7.18 | % | |||||||||||||||||||||||||||||||||||||
Northwest | 34,764 | 2.37 | % | 3.73 | % | 34,817 | 2.42 | % | 3.74 | % | Northwest | 34,149 | 1.99 | % | 3.54 | % | 33,707 | 2.14 | % | 3.68 | % | |||||||||||||||||||||||||||||||||||||
South | 13,756 | 0.94 | % | 1.48 | % | 13,416 | 0.93 | % | 1.44 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,467,627 | 100.00 | % | 157.63 | % | $ | 1,438,042 | 100.00 | % | 154.52 | % | 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, 2019 | September 30, 2019 | |||||||||||||
Cost: | % of Total Investments | % of Total Investments | ||||||||||||
Application Software | $ | 152,886 | 9.96 | % | $ | 132,051 | 8.73 | % | ||||||
Multi-Sector Holdings (1) | 146,436 | 9.52 | 146,436 | 9.67 | ||||||||||
Health Care Services | 111,395 | 7.24 | 100,173 | 6.62 | ||||||||||
Data Processing & Outsourced Services | 101,265 | 6.58 | 97,759 | 6.46 | ||||||||||
Property & Casualty Insurance | 85,593 | 5.56 | 73,076 | 4.83 | ||||||||||
Biotechnology | 83,356 | 5.42 | 82,109 | 5.43 | ||||||||||
Pharmaceuticals | 63,239 | 4.11 | 59,294 | 3.92 | ||||||||||
Specialized Finance | 53,533 | 3.48 | 53,227 | 3.52 | ||||||||||
Auto Parts & Equipment | 44,510 | 2.89 | 42,641 | 2.82 | ||||||||||
Research & Consulting Services | 39,681 | 2.58 | 34,734 | 2.30 | ||||||||||
Real Estate Services | 39,255 | 2.55 | 39,332 | 2.60 | ||||||||||
Health Care Technology | 36,591 | 2.38 | 51,044 | 3.37 | ||||||||||
Aerospace & Defense | 33,615 | 2.19 | 33,665 | 2.23 | ||||||||||
Specialty Chemicals | 31,792 | 2.07 | 31,788 | 2.10 | ||||||||||
Systems Software | 31,657 | 2.06 | 31,716 | 2.10 | ||||||||||
Movies & Entertainment | 30,819 | 2.00 | 18,858 | 1.25 | ||||||||||
Oil & Gas Refining & Marketing | 30,338 | 1.97 | 30,378 | 2.01 | ||||||||||
Integrated Telecommunication Services | 30,293 | 1.97 | 33,741 | 2.23 | ||||||||||
Internet Services & Infrastructure | 28,406 | 1.85 | 32,563 | 2.15 | ||||||||||
Managed Health Care | 27,603 | 1.79 | 27,645 | 1.83 | ||||||||||
Electrical Components & Equipment | 25,668 | 1.67 | 21,210 | 1.40 | ||||||||||
Advertising | 24,259 | 1.58 | 42,405 | 2.80 | ||||||||||
Education Services | 23,031 | 1.50 | 15,672 | 1.04 | ||||||||||
Airport Services | 22,427 | 1.46 | — | — | ||||||||||
Independent Power Producers & Energy Traders | 22,175 | 1.44 | — | — | ||||||||||
Construction & Engineering | 19,135 | 1.24 | 23,443 | 1.55 | ||||||||||
Health Care Distributors | 19,060 | 1.24 | 22,561 | 1.49 | ||||||||||
General Merchandise Stores | 18,987 | 1.23 | 18,946 | 1.25 | ||||||||||
Diversified Support Services | 18,802 | 1.22 | 18,805 | 1.24 | ||||||||||
Apparel, Accessories & Luxury Goods | 17,790 | 1.16 | 18,192 | 1.20 | ||||||||||
Industrial Machinery | 16,055 | 1.04 | 17,055 | 1.13 | ||||||||||
IT Consulting & Other Services | 14,962 | 0.97 | 14,975 | 0.99 | ||||||||||
Alternative Carriers | 11,671 | 0.76 | 29,400 | 1.94 | ||||||||||
Oil & Gas Equipment & Services | 11,664 | 0.76 | 12,165 | 0.80 | ||||||||||
Oil & Gas Storage & Transportation | 11,592 | 0.75 | 11,603 | 0.77 | ||||||||||
Airlines | 10,640 | 0.69 | 10,640 | 0.70 | ||||||||||
Trading Companies & Distributors | 10,322 | 0.67 | 10,357 | 0.68 | ||||||||||
Specialized REITs | 9,688 | 0.63 | 8,264 | 0.55 | ||||||||||
Household Appliances | 7,820 | 0.51 | 7,837 | 0.52 | ||||||||||
Food Retail | 6,813 | 0.44 | 14,473 | 0.96 | ||||||||||
Commercial Printing | 6,102 | 0.40 | 6,002 | 0.40 | ||||||||||
Restaurants | 3,089 | 0.20 | 3,097 | 0.20 | ||||||||||
Leisure Facilities | 1,887 | 0.12 | 1,887 | 0.12 | ||||||||||
Specialty Stores | 1,305 | 0.08 | 1,305 | 0.09 | ||||||||||
Thrifts & Mortgage Finance | 938 | 0.06 | 1,217 | 0.08 | ||||||||||
Other Diversified Financial Services | 113 | 0.01 | 113 | 0.01 | ||||||||||
Interactive Media & Services | — | — | 21,805 | 1.44 | ||||||||||
Environmental & Facilities Services | — | — | 5,940 | 0.39 | ||||||||||
Human Resource & Employment Services | — | — | 830 | 0.05 | ||||||||||
Department Stores | — | — | 585 | 0.04 | ||||||||||
Total | $ | 1,538,258 | 100.00 | % | $ | 1,513,014 | 100.00 | % |
December 31, 2019 | September 30, 2019 | December 31, 2020 | September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value: | % of Total Investments | % of Net Assets | % of Total Investments | % of Net Assets | Fair Value: | % of Total Investments | % of Net Assets | % of Total Investments | % of Net Assets | |||||||||||||||||||||||||||||||||||||||||||||||||
Application Software | $ | 151,296 | 10.32 | % | 16.26 | % | $ | 129,577 | 9.00 | % | 13.94 | % | Application Software | $ | 221,153 | 12.88 | % | 22.88 | % | $ | 160,591 | 10.21 | % | 17.57 | % | |||||||||||||||||||||||||||||||||
Multi-Sector Holdings (1) | 130,791 | 8.91 | 14.05 | 128,539 | 8.94 | 13.81 | Multi-Sector Holdings (1) | 129,053 | 7.54 | 13.37 | 121,751 | 7.74 | 13.31 | |||||||||||||||||||||||||||||||||||||||||||||
Data Processing & Outsourced Services | 102,188 | 6.96 | 10.98 | 98,267 | 6.83 | 10.56 | Data Processing & Outsourced Services | 122,188 | 7.14 | 12.66 | 99,589 | 6.33 | 10.89 | |||||||||||||||||||||||||||||||||||||||||||||
Pharmaceuticals | Pharmaceuticals | 118,253 | 6.91 | 12.26 | 103,092 | 6.55 | 11.27 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Biotechnology | 92,106 | 6.28 | 9.89 | 85,719 | 5.96 | 9.21 | Biotechnology | 111,941 | 6.54 | 11.60 | 96,624 | 6.14 | 10.56 | |||||||||||||||||||||||||||||||||||||||||||||
Specialized Finance | Specialized Finance | 69,215 | 4.04 | 7.17 | 48,425 | 3.08 | 5.29 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Health Care Services | Health Care Services | 62,275 | 3.64 | 6.45 | 59,925 | 3.81 | 6.55 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Personal Products | Personal Products | 55,959 | 3.27 | 5.80 | 51,024 | 3.24 | 5.58 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Movies & Entertainment | Movies & Entertainment | 51,318 | 3.00 | 5.32 | 43,592 | 2.77 | 4.76 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Property & Casualty Insurance | 85,813 | 5.85 | 9.22 | 74,148 | 5.16 | 7.97 | Property & Casualty Insurance | 48,067 | 2.81 | 4.98 | 46,737 | 2.97 | 5.11 | |||||||||||||||||||||||||||||||||||||||||||||
Health Care Services | 65,421 | 4.46 | 7.03 | 58,391 | 4.06 | 6.27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Pharmaceuticals | 63,319 | 4.31 | 6.80 | 60,057 | 4.18 | 6.45 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Specialized Finance | 53,601 | 3.65 | 5.76 | 51,485 | 3.58 | 5.53 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Integrated Telecommunication Services | Integrated Telecommunication Services | 42,543 | 2.48 | 4.41 | 41,091 | 2.61 | 4.49 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate Services | Real Estate Services | 38,218 | 2.23 | 3.96 | 37,723 | 2.40 | 4.12 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Specialty Chemicals | Specialty Chemicals | 37,006 | 2.16 | 3.84 | 39,008 | 2.48 | 4.26 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Fertilizers & Agricultural Chemicals | Fertilizers & Agricultural Chemicals | 34,567 | 2.02 | 3.58 | 33,719 | 2.14 | 3.69 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Auto Parts & Equipment | Auto Parts & Equipment | 32,516 | 1.90 | 3.37 | 31,382 | 1.99 | 3.43 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Aerospace & Defense | Aerospace & Defense | 31,694 | 1.85 | 3.28 | 24,521 | 1.56 | 2.68 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Internet Services & Infrastructure | Internet Services & Infrastructure | 31,322 | 1.83 | 3.25 | 26,587 | 1.69 | 2.91 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Oil & Gas Refining & Marketing | Oil & Gas Refining & Marketing | 29,673 | 1.73 | 3.08 | 29,826 | 1.90 | 3.26 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Electronic Components | Electronic Components | 29,207 | 1.71 | 3.03 | 26,552 | 1.69 | 2.90 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Managed Health Care | Managed Health Care | 27,141 | 1.59 | 2.81 | 26,681 | 1.70 | 2.92 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Research & Consulting Services | 42,340 | 2.88 | 4.55 | 37,336 | 2.60 | 4.01 | Research & Consulting Services | 24,945 | 1.46 | 2.59 | 24,212 | 1.54 | 2.65 | |||||||||||||||||||||||||||||||||||||||||||||
Auto Parts & Equipment | 41,664 | 2.84 | 4.47 | 40,484 | 2.82 | 4.35 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate Services | 39,303 | 2.68 | 4.22 | 39,501 | 2.75 | 4.24 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Oil & Gas Storage & Transportation | Oil & Gas Storage & Transportation | 23,231 | 1.36 | 2.41 | 25,749 | 1.64 | 2.81 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Health Care Technology | 38,069 | 2.59 | 4.09 | 52,275 | 3.64 | 5.62 | Health Care Technology | 22,109 | 1.29 | 2.29 | 22,058 | 1.40 | 2.41 | |||||||||||||||||||||||||||||||||||||||||||||
Aerospace & Defense | 33,592 | 2.29 | 3.61 | 33,738 | 2.35 | 3.63 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Systems Software | 31,809 | 2.17 | 3.42 | 31,504 | 2.19 | 3.39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Oil & Gas Refining & Marketing | 31,651 | 2.16 | 3.40 | 31,597 | 2.20 | 3.40 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Movies & Entertainment | 30,757 | 2.10 | 3.30 | 18,613 | 1.29 | 2.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Internet Services & Infrastructure | 28,376 | 1.93 | 3.05 | 32,565 | 2.26 | 3.50 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Managed Health Care | 27,565 | 1.88 | 2.96 | 27,775 | 1.93 | 2.98 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Electrical Components & Equipment | 26,413 | 1.80 | 2.84 | 20,032 | 1.39 | 2.15 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Integrated Telecommunication Services | 25,147 | 1.71 | 2.70 | 28,876 | 2.01 | 3.10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Specialty Chemicals | 23,253 | 1.58 | 2.50 | 23,514 | 1.64 | 2.53 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction & Engineering | Construction & Engineering | 21,954 | 1.28 | 2.28 | 13,465 | 0.86 | 1.47 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Health Care Supplies | Health Care Supplies | 21,755 | 1.27 | 2.25 | 21,634 | 1.37 | 2.36 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Airport Services | 22,425 | 1.53 | 2.41 | — | — | — | Airport Services | 21,275 | 1.24 | 2.20 | 21,283 | 1.35 | 2.33 | |||||||||||||||||||||||||||||||||||||||||||||
Independent Power Producers & Energy Traders | 22,145 | 1.51 | 2.38 | — | — | — | Independent Power Producers & Energy Traders | 20,538 | 1.20 | 2.13 | 20,812 | 1.32 | 2.27 | |||||||||||||||||||||||||||||||||||||||||||||
Advertising | 19,299 | 1.31 | 2.07 | 37,261 | 2.59 | 4.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction & Engineering | 19,053 | 1.30 | 2.05 | 23,982 | 1.67 | 2.58 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Health Care Distributors | 18,838 | 1.28 | 2.02 | 21,962 | 1.53 | 2.36 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Insurance Brokers | Insurance Brokers | 18,766 | 1.10 | 1.94 | 18,083 | 1.15 | 1.98 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Diversified Support Services | 18,527 | 1.26 | 1.99 | 18,624 | 1.30 | 2.00 | Diversified Support Services | 18,302 | 1.07 | 1.90 | 17,689 | 1.12 | 1.93 | |||||||||||||||||||||||||||||||||||||||||||||
General Merchandise Stores | 16,376 | 1.12 | 1.76 | 16,934 | 1.18 | 1.82 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Airlines | 15,966 | 1.09 | 1.71 | 16,140 | 1.12 | 1.73 | Airlines | 17,630 | 1.03 | 1.83 | 13,132 | 0.83 | 1.44 | |||||||||||||||||||||||||||||||||||||||||||||
Hotels, Resorts & Cruise Lines | Hotels, Resorts & Cruise Lines | 17,057 | 1.00 | 1.77 | 17,081 | 1.09 | 1.87 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Systems Software | Systems Software | 17,017 | 0.99 | 1.76 | 20,481 | 1.30 | 2.24 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Electrical Components & Equipment | Electrical Components & Equipment | 16,199 | 0.95 | 1.68 | 20,465 | 1.30 | 2.24 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Internet & Direct Marketing Retail | Internet & Direct Marketing Retail | 16,015 | 0.94 | 1.66 | 15,307 | 0.97 | 1.67 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial Machinery | 15,771 | 1.07 | 1.69 | 16,848 | 1.17 | 1.81 | Industrial Machinery | 15,537 | 0.91 | 1.61 | 11,643 | 0.74 | 1.27 | |||||||||||||||||||||||||||||||||||||||||||||
IT Consulting & Other Services | 14,573 | 0.99 | 1.57 | 13,792 | 0.96 | 1.48 | IT Consulting & Other Services | 14,259 | 0.83 | 1.48 | 13,905 | 0.88 | 1.52 | |||||||||||||||||||||||||||||||||||||||||||||
Advertising | Advertising | 13,857 | 0.81 | 1.44 | 13,440 | 0.85 | 1.47 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Health Care Distributors | Health Care Distributors | 12,511 | 0.73 | 1.30 | 12,260 | 0.78 | 1.34 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Restaurants | Restaurants | 10,225 | 0.60 | 1.06 | 7,886 | 0.50 | 0.86 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Diversified Real Estate Activities | Diversified Real Estate Activities | 7,610 | 0.44 | 0.79 | 16,846 | 1.07 | 1.84 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Printing | Commercial Printing | 7,306 | 0.43 | 0.76 | 7,334 | 0.47 | 0.80 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Food Retail | Food Retail | 6,998 | 0.41 | 0.73 | 6,998 | 0.44 | 0.76 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Apparel, Accessories & Luxury Goods | Apparel, Accessories & Luxury Goods | 6,753 | 0.39 | 0.70 | 7,856 | 0.50 | 0.86 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Education Services | Education Services | 6,653 | 0.39 | 0.69 | 7,088 | 0.45 | 0.77 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Trading Companies & Distributors | Trading Companies & Distributors | 5,698 | 0.33 | 0.59 | 10,069 | 0.64 | 1.10 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Oil & Gas Equipment & Services | Oil & Gas Equipment & Services | 2,471 | 0.14 | 0.26 | 2,588 | 0.16 | 0.28 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Construction Materials | Construction Materials | 2,182 | 0.13 | 0.23 | 2,073 | 0.13 | 0.23 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Thrifts & Mortgage Finance | Thrifts & Mortgage Finance | 113 | 0.01 | 0.01 | 353 | 0.02 | 0.04 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Leisure Facilities | Leisure Facilities | 49 | — | 0.01 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
General Merchandise Stores | General Merchandise Stores | — | — | — | 17,877 | 1.14 | 1.95 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Metal & Glass Containers | Metal & Glass Containers | — | — | — | 11,833 | 0.75 | 1.29 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Health Care Facilities | Health Care Facilities | — | — | — | 3,640 | 0.23 | 0.40 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Specialized REITs | Specialized REITs | — | — | — | 222 | 0.01 | 0.02 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Leisure Products | 14,533 | 0.99 | 1.56 | 15,054 | 1.05 | 1.62 | Leisure Products | — | — | — | 49 | — | 0.01 | |||||||||||||||||||||||||||||||||||||||||||||
Oil & Gas Equipment & Services | 12,800 | 0.87 | 1.37 | 13,652 | 0.95 | 1.47 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Apparel, Accessories & Luxury Goods | 12,618 | 0.86 | 1.36 | 13,286 | 0.92 | 1.43 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Alternative Carriers | 12,491 | 0.85 | 1.34 | 29,580 | 2.06 | 3.18 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Oil & Gas Storage & Transportation | 11,853 | 0.81 | 1.27 | 11,926 | 0.83 | 1.28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Trading Companies & Distributors | 10,318 | 0.70 | 1.11 | 10,370 | 0.72 | 1.11 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Specialized REITs | 9,725 | 0.66 | 1.04 | 8,213 | 0.57 | 0.88 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Household Appliances | 7,742 | 0.53 | 0.83 | 7,614 | 0.53 | 0.82 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Education Services | 7,661 | 0.52 | 0.82 | 16 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Food Retail | 6,998 | 0.48 | 0.75 | 14,903 | 1.04 | 1.60 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Printing | 6,000 | 0.41 | 0.64 | 5,900 | 0.41 | 0.63 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Leisure Facilities | 4,328 | 0.29 | 0.46 | 4,809 | 0.33 | 0.52 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Restaurants | 2,718 | 0.19 | 0.29 | 2,800 | 0.19 | 0.30 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Thrifts & Mortgage Finance | 395 | 0.03 | 0.04 | 691 | 0.05 | 0.07 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Interactive Media & Services | — | — | — | 22,500 | 1.56 | 2.42 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Environmental & Facilities Services | — | — | — | 5,937 | 0.41 | 0.64 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Human Resource & Employment Services | — | — | — | 775 | 0.05 | 0.08 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Department stores | — | — | — | 480 | 0.03 | 0.05 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,467,627 | 100.00 | % | 157.63 | % | $ | 1,438,042 | 100.00 | % | 154.52 | % | 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, 2019 | September 30, 2019 | |||
Senior secured loans (1) | $324,586 | $340,960 | ||
Weighted average interest rate on senior secured loans (2) | 6.31% | 6.57% | ||
Number of borrowers in SLF JV I | 51 | 51 | ||
Largest exposure to a single borrower (1) | $10,808 | $10,835 | ||
Total of five largest loan exposures to borrowers (1) | $50,333 | $50,510 |
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 | 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 | 5.44 | % | Diversified Support Services | $ | 9,276 | $ | 9,235 | $ | 9,284 | ||||||
AdVenture Interactive, Corp. | 927 shares of common stock | Advertising | 1,390 | 1,314 | (4) | |||||||||||
AI Ladder (Luxembourg) Subco S.a.r.l. | First Lien Term Loan, LIBOR+4.50% cash due 7/9/2025 | 6.44 | % | Electrical Components & Equipment | 6,118 | 5,972 | 6,126 | (4) | ||||||||
Altice France S.A. | First Lien Term Loan, LIBOR+4.00% cash due 8/14/2026 | 5.74 | % | Integrated Telecommunication Services | 7,425 | 7,270 | 7,454 | |||||||||
Alvogen Pharma US, Inc. | First Lien Term Loan, LIBOR+4.75% cash due 4/1/2022 | 6.55 | % | Pharmaceuticals | 9,429 | 9,169 | 8,266 | |||||||||
Anastasia Parent, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/11/2025 | 5.68 | % | Personal Products | 2,850 | 2,344 | 2,443 | |||||||||
Apptio, Inc. | First Lien Term Loan, LIBOR+7.25% cash due 1/10/2025 | 8.96 | % | Application Software | 4,615 | 4,538 | 4,531 | (4) | ||||||||
First Lien Revolver, LIBOR+7.25% cash due 1/10/2025 | Application Software | — | (6 | ) | (7 | ) | (4)(5) | |||||||||
Total Apptio, Inc. | 4,532 | 4,524 | ||||||||||||||
Aurora Lux Finco S.À.R.L. | First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026 | 7.93 | % | Airport Services | 6,500 | 6,338 | 6,338 | (4) | ||||||||
Blackhawk Network Holdings, Inc. | First Lien Term Loan, LIBOR+3.00% cash due 6/15/2025 | 4.80 | % | Data Processing & Outsourced Services | 9,850 | 9,831 | 9,868 | |||||||||
Boxer Parent Company Inc. | First Lien Term Loan, LIBOR+4.25% cash due 10/2/2025 | 6.05 | % | Systems Software | 7,590 | 7,501 | 7,522 | (4) | ||||||||
Brazos Delaware II, LLC | First Lien Term Loan, LIBOR+4.00% cash due 5/21/2025 | 5.79 | % | Oil & Gas Equipment & Services | 7,388 | 7,359 | 6,353 | |||||||||
C5 Technology Holdings, LLC | 171 Common Units | Data Processing & Outsourced Services | — | — | (4) | |||||||||||
7,193,539.63 Preferred Units | Data Processing & Outsourced Services | 7,194 | 7,194 | (4) | ||||||||||||
Total C5 Technology Holdings, LLC | 7,194 | 7,194 | ||||||||||||||
Cast & Crew Payroll, LLC | First Lien Term Loan, LIBOR+4.00% cash due 2/9/2026 | 5.80 | % | Application Software | 4,963 | 4,913 | 4,994 | |||||||||
CITGO Petroleum Corp. | First Lien Term Loan, LIBOR+5.00% cash due 3/28/2024 | 6.94 | % | Oil & Gas Refining & Marketing | 7,940 | 7,860 | 7,990 | (4) | ||||||||
Connect U.S. Finco LLC | First Lien Delayed Draw Term Loan, LIBOR+4.50% cash due 12/11/2026 | 6.29 | % | Alternative Carriers | 3,272 | 3,112 | 3,331 | (4)(5) | ||||||||
Cortes NP Acquisition Corporation | First Lien Term Loan, LIBOR+4.00% cash due 11/30/2023 | 5.93 | % | Electrical Components & Equipment | 4,290 | 4,075 | 4,290 | (4) | ||||||||
Curium Bidco S.à.r.l. | First Lien Term Loan, LIBOR+4.00% cash due 7/9/2026 | 5.94 | % | Biotechnology | 5,985 | 5,940 | 6,041 | |||||||||
Dcert Buyer, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 10/16/2026 | 5.80 | % | Internet Services & Infrastructure | 8,000 | 7,980 | 8,040 | |||||||||
Ellie Mae, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 4/17/2026 | 5.94 | % | Application Software | 4,987 | 4,963 | 5,028 | |||||||||
eResearch Technology, Inc. | First Lien Term Loan, LIBOR+4.50% cash due 11/20/2026 | 6.39 | % | Application Software | 7,500 | 7,425 | 7,570 | |||||||||
Falmouth Group Holdings Corp. | First Lien Term Loan, LIBOR+6.75% cash due 12/14/2021 | 8.55 | % | Specialty Chemicals | 4,938 | 4,909 | 4,910 | |||||||||
Frontier Communications Corporation | First Lien Term Loan, LIBOR+3.75% cash due 6/15/2024 | 5.55 | % | Integrated Telecommunication Services | 6,457 | 6,384 | 6,502 | |||||||||
Gigamon, Inc. | First Lien Term Loan, LIBOR+4.25% cash due 12/27/2024 | 6.04 | % | Systems Software | 7,840 | 7,784 | 7,771 | |||||||||
GoodRx, Inc. | First Lien Term Loan, LIBOR+2.75% cash due 10/10/2025 | 4.55 | % | Interactive Media & Services | 7,832 | 7,816 | 7,894 |
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 | |||||||||
Guidehouse LLP | Second Lien Term Loan, LIBOR+8.00% cash due 5/1/2026 | 9.80 | % | Research & Consulting Services | $ | 6,000 | $ | 5,976 | $ | 5,910 | (4) | |||||
Helios Software Holdings, Inc. | First Lien Term Loan, LIBOR+4.25% cash due 10/24/2025 | 6.18 | % | Systems Software | 4,000 | 3,960 | 3,979 | |||||||||
Indivior Finance S.a.r.l. | First Lien Term Loan, LIBOR+4.50% cash due 12/19/2022 | 6.43 | % | Pharmaceuticals | 7,864 | 7,771 | 7,287 | |||||||||
Intelsat Jackson Holdings S.A. | First Lien Term Loan, LIBOR+3.75% cash due 11/27/2023 | 5.68 | % | Alternative Carriers | 10,000 | 9,897 | 10,035 | |||||||||
KIK Custom Products Inc. | First Lien Term Loan, LIBOR+4.00% cash due 5/15/2023 | 5.79 | % | Household Products | 8,000 | 7,974 | 7,876 | |||||||||
Mindbody, Inc. | First Lien Term Loan, LIBOR+7.00% cash due 2/14/2025 | 8.79 | % | Internet Services & Infrastructure | 4,524 | 4,446 | 4,442 | (4) | ||||||||
First Lien Revolver, LIBOR+7.00% cash due 2/14/2025 | Internet Services & Infrastructure | — | (8 | ) | (9 | ) | (4)(5) | |||||||||
Total Mindbody, Inc. | 4,438 | 4,433 | ||||||||||||||
Navicure, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 10/22/2026 | 5.80 | % | Health Care Technology | 6,000 | 5,970 | 6,041 | |||||||||
New IPT, Inc. | First Lien Term Loan, LIBOR+5.00% cash due 3/17/2021 | 6.94 | % | Oil & Gas Equipment & Services | 1,203 | 1,203 | 1,203 | (4) | ||||||||
21.876 Class A Common Units in New IPT Holdings, LLC | Oil & Gas Equipment & Services | — | 1,268 | (4) | ||||||||||||
Total New IPT, Inc. | 1,203 | 2,471 | ||||||||||||||
Northern Star Industries Inc. | First Lien Term Loan, LIBOR+4.50% cash due 3/31/2025 | 6.56 | % | Electrical Components & Equipment | 6,877 | 6,852 | 6,774 | |||||||||
Novetta Solutions, LLC | First Lien Term Loan, LIBOR+5.00% cash due 10/17/2022 | 6.80 | % | Application Software | 5,977 | 5,948 | 5,889 | |||||||||
OEConnection LLC | First Lien Term Loan, LIBOR+4.00% cash due 9/25/2026 | 5.80 | % | Application Software | 7,289 | 7,253 | 7,335 | |||||||||
First Lien Delayed Draw Term Loan, LIBOR+4.00% cash due 9/25/2026 | Application software | — | (3 | ) | 4 | (5) | ||||||||||
Total OEConnection LLC | 7,250 | 7,339 | ||||||||||||||
Red Ventures, LLC | First Lien Term Loan, LIBOR+3.00% cash due 11/8/2024 | 4.80 | % | Interactive Media & Services | 3,980 | 3,962 | 4,013 | |||||||||
Sabert Corporation | First Lien Term Loan, LIBOR+4.50% cash due 12/10/2026 | 6.25 | % | Metal & Glass Containers | 4,350 | 4,307 | 4,395 | |||||||||
Salient CRGT, Inc. | First Lien Term Loan, LIBOR+6.50% cash due 2/28/2022 | 8.29 | % | Aerospace & Defense | 2,189 | 2,169 | 2,080 | (4) | ||||||||
Scientific Games International, Inc. | First Lien Term Loan, LIBOR+2.75% cash due 8/14/2024 | 4.55 | % | Casinos & Gaming | 6,499 | 6,476 | 6,526 | |||||||||
SHO Holding I Corporation | First Lien Term Loan, LIBOR+5.00% cash due 10/27/2022 | 6.93 | % | Footwear | 8,397 | 8,382 | 7,516 | |||||||||
Signify Health, LLC | First Lien Term Loan, LIBOR+4.50% cash due 12/23/2024 | 6.44 | % | Health Care Services | 9,825 | 9,754 | 9,813 | |||||||||
Sirva Worldwide, Inc. | First Lien Term Loan, LIBOR+5.50% cash due 8/4/2025 | 7.44 | % | Diversified Support Services | 4,875 | 4,802 | 4,826 | |||||||||
Sunshine Luxembourg VII SARL | First Lien Term Loan, LIBOR+4.25% cash due 10/1/2026 | 6.19 | % | Personal Products | 8,000 | 7,960 | 8,086 | |||||||||
Supermoose Borrower, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025 | 5.55 | % | Application Software | 4,619 | 4,267 | 4,424 | (4) | ||||||||
Thruline Marketing, Inc. | 927 Class A Units in FS AVI Holdco, LLC | Advertising | 1,088 | 658 | (4) | |||||||||||
Thunder Finco (US), LLC | First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026 | 6.04 | % | Movies & Entertainment | 8,000 | 7,920 | 8,000 | |||||||||
Triple Royalty Sub LLC | Fixed Rate Bond 144A 9.00% cash due 4/15/2033 | Pharmaceuticals | 4,955 | 4,955 | 5,128 | |||||||||||
Uber Technologies, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 4/4/2025 | 5.74 | % | Application Software | 9,850 | 9,813 | 9,861 | (4) | ||||||||
UFC Holdings, LLC | First Lien Term Loan, LIBOR+3.25% cash due 4/29/2026 | 5.05 | % | Movies & Entertainment | 4,477 | 4,477 | 4,513 | |||||||||
Uniti Group LP | First Lien Term Loan, LIBOR+5.00% cash due 10/24/2022 | 6.80 | % | Specialized REITs | 6,385 | 6,220 | 6,286 | (4) |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||||||||||
Valeant Pharmaceuticals International Inc. | First Lien Term Loan, LIBOR+2.75% cash due 11/27/2025 | 4.49 | % | Pharmaceuticals | $ | 1,722 | $ | 1,714 | $ | 1,733 | |||||||||||||||||||||||||||||||||||
Sabert Corporation | 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. | 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 | 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 | 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. | 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 | 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 | 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 | 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. | 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+4.50% cash due 1/27/2023 | 6.30 | % | Application Software | 6,876 | 6,841 | 6,640 | (4) | 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 | |||||||||||||||||||||||||||||
Verra Mobility, Corp. | First Lien Term Loan, LIBOR+3.75% cash due 2/28/2025 | 5.55 | % | Data Processing & Outsourced Services | 10,808 | 10,821 | 10,893 | ||||||||||||||||||||||||||||||||||||||
Verscend Holding Corp. | 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 | 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 | 9.68 | % | Aerospace & Defense | 6,000 | 5,951 | 5,929 | (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) | ||||||||||||||||||||||||||||
$ | 324,586 | $ | 330,414 | $ | 330,401 | $ | 313,978 | $ | 317,432 | $ | 313,261 |
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 | |||||||||
Access CIG, LLC | First Lien Term Loan, LIBOR+3.75% cash due 2/27/2025 | 6.07 | % | Diversified support services | $ | 9,300 | $ | 9,256 | $ | 9,201 | ||||||
AdVenture Interactive, Corp. | 927 shares of common stock | Advertising | 1,390 | 1,295 | (4) | |||||||||||
AI Ladder (Luxembourg) Subco S.a.r.l. | First Lien Term Loan, LIBOR+4.50% cash due 7/9/2025 | 6.60 | % | Electrical components & equipment | 6,145 | 5,992 | 5,659 | (4) | ||||||||
Air Newco LP | First Lien Term Loan, LIBOR+4.75% cash due 5/31/2024 | 6.79 | % | IT consulting & other services | 9,900 | 9,875 | 9,916 | |||||||||
AL Midcoast Holdings LLC | First Lien Term Loan, LIBOR+5.50% cash due 8/1/2025 | 7.60 | % | Oil & gas storage & transportation | 9,900 | 9,801 | 9,764 | |||||||||
Altice France S.A. | First Lien Term Loan, LIBOR+4.00% cash due 8/14/2026 | 6.03 | % | Integrated telecommunication services | 7,444 | 7,282 | 7,439 | |||||||||
Alvogen Pharma US, Inc. | First Lien Term Loan, LIBOR+4.75% cash due 4/1/2022 | 6.79 | % | Pharmaceuticals | 7,656 | 7,656 | 6,963 | |||||||||
Apptio, Inc. | First Lien Term Loan, LIBOR+7.25% cash due 1/10/2025 | 9.56 | % | Application software | 4,615 | 4,534 | 4,530 | (4) | ||||||||
First Lien Revolver, LIBOR+7.25% cash due 1/10/2025 | Application software | — | (7 | ) | (7 | ) | (4)(5) | |||||||||
Total Apptio, Inc. | 4,527 | 4,523 | ||||||||||||||
Blackhawk Network Holdings, Inc. | First Lien Term Loan, LIBOR+3.00% cash due 6/15/2025 | 5.04 | % | Data processing & outsourced services | 9,875 | 9,855 | 9,858 | |||||||||
Boxer Parent Company Inc. | First Lien Term Loan, LIBOR+4.25% cash due 10/2/2025 | 6.29 | % | Systems software | 7,609 | 7,518 | 7,336 | (4) | ||||||||
Brazos Delaware II, LLC | First Lien Term Loan, LIBOR+4.00% cash due 5/21/2025 | 6.05 | % | Oil & gas equipment & services | 7,406 | 7,376 | 6,855 | |||||||||
C5 Technology Holdings, LLC | 171 Common Units | Data Processing & Outsourced Services | — | — | (4) | |||||||||||
7,193,539.63 Preferred Units | Data Processing & Outsourced Services | 7,194 | 7,194 | (4) | ||||||||||||
Total C5 Technology Holdings, LLC | 7,194 | 7,194 | ||||||||||||||
Cast & Crew Payroll, LLC | First Lien Term Loan, LIBOR+4.00% cash due 2/9/2026 | 6.05 | % | Application software | 4,975 | 4,925 | 5,018 | |||||||||
CITGO Petroleum Corp. | First Lien Term Loan, LIBOR+5.00% cash due 3/28/2024 | 7.10 | % | Oil & gas refining & marketing | 7,960 | 7,880 | 8,010 | (4) | ||||||||
Connect U.S. Finco LLC | First Lien Term Loan, LIBOR+4.50% cash due 9/23/2026 | 7.10 | % | Alternative Carriers | 8,000 | 7,840 | 7,888 | (4) | ||||||||
Curium Bidco S.à r.l. | First Lien Term Loan, LIBOR+4.00% cash due 7/9/2026 | 6.10 | % | Biotechnology | 6,000 | 5,955 | 6,030 | |||||||||
Dcert Buyer, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 8/8/2026 | 6.26 | % | Internet services & infrastructure | 8,000 | 7,980 | 7,985 | |||||||||
DigiCert, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 10/31/2024 | 6.04 | % | Internet services & infrastructure | 8,250 | 8,148 | 8,249 | (4) | ||||||||
Ellie Mae, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 4/17/2026 | 6.04 | % | Application software | 5,000 | 4,975 | 5,015 | |||||||||
Everi Payments Inc. | First Lien Term Loan, LIBOR+3.00% cash due 5/9/2024 | 5.04 | % | Casinos & gaming | 4,764 | 4,742 | 4,776 | |||||||||
Falmouth Group Holdings Corp. | First Lien Term Loan, LIBOR+6.75% cash due 12/14/2021 | 8.95 | % | Specialty chemicals | 4,938 | 4,909 | 4,910 | |||||||||
Frontier Communications Corporation | First Lien Term Loan, LIBOR+3.75% cash due 6/15/2024 | 5.80 | % | Integrated telecommunication services | 6,473 | 6,400 | 6,471 | |||||||||
Gentiva Health Services, Inc. | First Lien Term Loan, LIBOR+3.75% cash due 7/2/2025 | 5.81 | % | Healthcare services | 7,920 | 7,801 | 7,974 | |||||||||
Gigamon, Inc. | First Lien Term Loan, LIBOR+4.25% cash due 12/27/2024 | 6.29 | % | Systems software | 7,860 | 7,801 | 7,644 | |||||||||
GoodRx, Inc. | First Lien Term Loan, LIBOR+2.75% cash due 10/10/2025 | 4.81 | % | Interactive media & services | 7,852 | 7,835 | 7,862 | |||||||||
Guidehouse LLP | Second Lien Term Loan, LIBOR+7.50% cash due 5/1/2026 | 9.54 | % | Research & consulting services | 6,000 | 5,975 | 5,925 | (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 | |||||||||
Indivior Finance S.a.r.l. | First Lien Term Loan, LIBOR+4.50% cash due 12/19/2022 | 6.76 | % | Pharmaceuticals | $ | 7,898 | $ | 7,797 | $ | 7,272 | ||||||
Intelsat Jackson Holdings S.A. | First Lien Term Loan, LIBOR+3.75% cash due 11/27/2023 | 5.80 | % | Alternative Carriers | 10,000 | 9,891 | 10,042 | |||||||||
KIK Custom Products Inc. | First Lien Term Loan, LIBOR+4.00% cash due 5/15/2023 | 6.26 | % | Household products | 8,000 | 7,972 | 7,610 | |||||||||
McDermott Technology (Americas), Inc. | First Lien Term Loan, LIBOR+5.00% cash due 5/9/2025 | 7.10 | % | Oil & gas equipment & services | 4,187 | 4,119 | 2,676 | |||||||||
Mindbody, Inc. | First Lien Term Loan, LIBOR+7.00% cash due 2/14/2025 | 9.06 | % | Internet services & infrastructure | 4,524 | 4,443 | 4,438 | (4) | ||||||||
First Lien Revolver, LIBOR+7.00% cash due 2/15/2025 | Internet services & infrastructure | — | (9 | ) | (9 | ) | (4)(5) | |||||||||
Total Mindbody, Inc. | 4,434 | 4,429 | ||||||||||||||
Navicure, Inc. | First Lien Term Loan, LIBOR+3.75% cash due 9/18/2026 | 6.13 | % | Healthcare technology | 6,000 | 5,970 | 6,008 | |||||||||
New IPT, Inc. | First Lien Term Loan, LIBOR+5.00% cash due 3/17/2021 | 7.10 | % | Oil & gas equipment & services | 1,422 | 1,422 | 1,422 | (4) | ||||||||
21.876 Class A Common Units in New IPT Holdings, LLC | Oil & gas equipment & services | — | 1,268 | (4) | ||||||||||||
Total New IPT, Inc. | 1,422 | 2,690 | ||||||||||||||
Northern Star Industries Inc. | First Lien Term Loan, LIBOR+4.50% cash due 3/31/2025 | 6.56 | % | Electrical components & equipment | 6,895 | 6,868 | 6,792 | |||||||||
Novetta Solutions, LLC | First Lien Term Loan, LIBOR+5.00% cash due 10/17/2022 | 7.05 | % | Application software | 5,993 | 5,961 | 5,882 | |||||||||
OCI Beaumont LLC | First Lien Term Loan, LIBOR+4.00% cash due 3/13/2025 | 6.10 | % | Commodity chemicals | 7,880 | 7,872 | 7,890 | |||||||||
OEConnection LLC | First Lien Term Loan, LIBOR+4.00% cash due 9/24/2026 | 6.13 | % | Application software | 7,312 | 7,275 | 7,298 | |||||||||
First Lien Delayed Draw Term Loan, LIBOR+4.00% cash due 9/24/2026 | Application software | — | (3 | ) | (1 | ) | (5) | |||||||||
Total OEConnection LLC | 7,272 | 7,297 | ||||||||||||||
Red Ventures, LLC | First Lien Term Loan, LIBOR+3.00% cash due 11/8/2024 | 5.04 | % | Interactive media & services | 3,990 | 3,971 | 4,011 | |||||||||
Salient CRGT, Inc. | First Lien Term Loan, LIBOR+6.00% cash due 2/28/2022 | 8.05 | % | Aerospace & defense | 2,205 | 2,183 | 2,094 | (4) | ||||||||
Scientific Games International, Inc. | First Lien Term Loan, LIBOR+2.75% cash due 8/14/2024 | 4.79 | % | Casinos & gaming | 6,516 | 6,491 | 6,470 | |||||||||
SHO Holding I Corporation | First Lien Term Loan, LIBOR+5.00% cash due 10/27/2022 | 7.26 | % | Footwear | 8,420 | 8,403 | 7,999 | |||||||||
Signify Health, LLC | First Lien Term Loan, LIBOR+4.50% cash due 12/23/2024 | 6.60 | % | Healthcare services | 9,850 | 9,775 | 9,838 | |||||||||
Sirva Worldwide, Inc. | First Lien Term Loan, LIBOR+5.50% cash due 8/4/2025 | 7.54 | % | Diversified support services | 4,906 | 4,833 | 4,759 | |||||||||
Sunshine Luxembourg VII SARL | First Lien Term Loan, LIBOR+4.25% cash due 9/25/2026 | 6.59 | % | Personal products | 8,000 | 7,960 | 8,048 | |||||||||
Thruline Marketing, Inc. | First Lien Term Loan, LIBOR+7.00% cash due 4/3/2022 | 9.10 | % | Advertising | 1,854 | 1,851 | 1,854 | (4) | ||||||||
927 Class A Units in FS AVI Holdco, LLC | Advertising | 1,088 | 658 | (4) | ||||||||||||
Total Thruline Marketing, Inc. | 2,939 | 2,512 | ||||||||||||||
Triple Royalty Sub LLC | Fixed Rate Bond 144A 9.0% Toggle PIK cash due 4/15/2033 | Pharmaceuticals | 5,000 | 5,000 | 5,175 | |||||||||||
Uber Technologies, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 4/4/2025 | 6.03 | % | Application software | 9,875 | 9,836 | 9,836 | (4) | ||||||||
UFC Holdings, LLC | First Lien Term Loan, LIBOR+3.25% cash due 4/29/2026 | 5.30 | % | Movies & entertainment | 4,489 | 4,489 | 4,506 | |||||||||
Uniti Group LP | First Lien Term Loan, LIBOR+5.00% cash due 10/24/2022 | 7.04 | % | Specialized REITs | 6,401 | 6,221 | 6,256 | (4) | ||||||||
Valeant Pharmaceuticals International Inc. | First Lien Term Loan, LIBOR+2.75% cash due 11/27/2025 | 4.79 | % | Pharmaceuticals | 1,772 | 1,764 | 1,778 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||||||||||
Star US Bidco LLC | 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 | 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 | 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. | 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. | 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 | 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+4.50% cash due 1/27/2023 | 6.60 | % | Application software | $ | 6,894 | $ | 6,856 | $ | 6,534 | (4) | 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 | ||||||||||||||||||||||||||
Verra Mobility, Corp. | First Lien Term Loan, LIBOR+3.75% cash due 2/28/2025 | 5.79 | % | Data processing & outsourced services | 10,835 | 10,849 | 10,894 | ||||||||||||||||||||||||||||||||||||||
Verscend Holding Corp. | 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. | 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 | 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 | 10.01 | % | Aerospace & defense | 6,000 | 5,949 | 5,974 | (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) | ||||||||||||||||||||||||||||
$ | 340,960 | $ | 347,985 | $ | 345,032 | $ | 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, 2019 | September 30, 2019 | |||||||
Selected Balance Sheet Information: | ||||||||
Investments at fair value (cost December 31, 2019: $330,414; cost September 30, 2019: $347,985) | $ | 330,401 | $ | 345,032 | ||||
Cash and cash equivalents | 9,762 | 3,674 | ||||||
Restricted cash | 5,157 | 5,242 | ||||||
Other assets | 6,410 | 6,912 | ||||||
Total assets | $ | 351,730 | $ | 360,860 | ||||
Senior credit facility payable | $ | 189,710 | $ | 170,210 | ||||
Debt securities payable at fair value (proceeds December 31, 2019: $110,000; proceeds September 30, 2019: $110,000) | 110,000 | 110,000 | ||||||
Other liabilities | 15,194 | 46,303 | ||||||
Total liabilities | $ | 314,904 | $ | 326,513 | ||||
Members' equity | 36,826 | 34,347 | ||||||
Total liabilities and members' equity | $ | 351,730 | $ | 360,860 |
Three months ended December 31, 2019 | Three months ended December 31, 2018 | Three months ended December 31, 2020 | Three months ended December 31, 2019 | |||||||||||||||||||
Selected Statements of Operations Information: | Selected Statements of Operations Information: | |||||||||||||||||||||
Interest income | $ | 5,393 | $ | 5,438 | Interest income | $ | 4,475 | $ | 5,393 | |||||||||||||
Other income | 6 | 9 | Other income | 54 | 6 | |||||||||||||||||
Total investment income | 5,399 | 5,447 | Total investment income | 4,529 | 5,399 | |||||||||||||||||
Interest expense | 4,641 | 5,154 | Interest expense | 3,581 | 4,641 | |||||||||||||||||
Other expenses | 67 | 50 | Other expenses | 62 | 67 | |||||||||||||||||
Total expenses (1) | 4,708 | 5,204 | Total expenses (1) | 3,643 | 4,708 | |||||||||||||||||
Net unrealized appreciation (depreciation) | 2,941 | (3,456 | ) | Net unrealized appreciation (depreciation) | 8,486 | 2,941 | ||||||||||||||||
Net realized gains (losses) | (1,152 | ) | (5,005 | ) | Net realized gains (losses) | (144) | (1,152) | |||||||||||||||
Net income (loss) | $ | 2,480 | $ | (8,218 | ) | 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 |
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, 2019 | Three months ended December 31, 2018 | ||||||
Earnings (loss) per common share — basic and diluted: | ||||||||
Net increase (decrease) in net assets resulting from operations | $ | 13,843 | $ | 27,718 | ||||
Weighted average common shares outstanding — basic and diluted | 140,961 | 140,961 | ||||||
Earnings (loss) per common share — basic and diluted | $ | 0.10 | $ | 0.20 |
Common Stock | |||||||||||||||||||
Shares | Par Value | Additional paid-in-capital | Accumulated Overdistributed Earnings | Total Net Assets | |||||||||||||||
Balance at 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 at December 31, 2019 | 140,961 | $ | 1,409 | $ | 1,487,774 | $ | (558,101 | ) | $ | 931,082 |
Common Stock | |||||||||||||||||||
Shares | Par Value | Additional paid-in-capital | Accumulated Overdistributed Earnings | Total Net Assets | |||||||||||||||
Balance at September 30, 2018 | 140,961 | $ | 1,409 | $ | 1,492,739 | $ | (636,113 | ) | $ | 858,035 | |||||||||
Net investment income | — | — | — | 17,317 | 17,317 | ||||||||||||||
Net unrealized appreciation (depreciation) | — | — | — | (6,975 | ) | (6,975 | ) | ||||||||||||
Net realized gains (losses) | — | — | — | 17,962 | 17,962 | ||||||||||||||
Provision for income tax (expense) benefit | — | — | — | (586 | ) | (586 | ) | ||||||||||||
Distributions to stockholders | — | — | — | (13,391 | ) | (13,391 | ) | ||||||||||||
Issuance of common stock under dividend reinvestment plan | 87 | 1 | 383 | — | 384 | ||||||||||||||
Repurchases of common stock under dividend reinvestment plan | (87 | ) | (1 | ) | (383 | ) | — | (384 | ) | ||||||||||
Balance at December 31, 2018 | 140,961 | $ | 1,409 | $ | 1,492,739 | $ | (621,786 | ) | $ | 872,362 |
Date Declared | Date Declared | Record Date | Payment Date | Amount per Share | Cash Distribution | DRIP Shares Issued (1) | DRIP Shares Value | ||||||||||||||||||||||||||||||||||||||||||||||
November 13, 2020 | 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 | 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 | 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 | 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 | Total for the three months ended 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 | |||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||
Total for the three months ended December 31, 2018 | $ | 0.095 | $ 13.0 million | 87,429 | $ 0.4 million |
December 31, 2019 | September 30, 2019 | 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 | $ | 1,336,000 | 95.74 | % | $ | 1,334,143 | 99.97 | % | $ | 1,311,849 | 95.72 | % | $ | 1,305,718 | 99.79 | % | 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 | 0.91 | — | — | 12,661 | 0.92 | — | — | PIK non-accrual (1) | — | — | — | — | 12,661 | 0.83 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash non-accrual (2) | 46,745 | 3.35 | 461 | 0.03 | 46,107 | 3.36 | 2,706 | 0.21 | Cash non-accrual (2) | 588 | 0.04 | 470 | 0.03 | 5,712 | 0.38 | 1,571 | 0.11 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,395,406 | 100.00 | % | $ | 1,334,604 | 100.00 | % | $ | 1,370,617 | 100.00 | % | $ | 1,308,424 | 100.00 | % | 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, 2019 | Three months ended December 31, 2018 | Three months ended December 31, 2020 | Three months ended December 31, 2019 | |||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | $ | 13,843 | $ | 27,718 | Net increase (decrease) in net assets resulting from operations | $ | 65,544 | $ | 13,843 | |||||||||||||
Net unrealized (appreciation) depreciation | (2,879 | ) | 6,975 | Net unrealized (appreciation) depreciation | (47,556) | (2,879) | ||||||||||||||||
Book/tax difference due to organizational costs | (22 | ) | (10 | ) | Book/tax difference due to organizational costs | (22) | (22) | |||||||||||||||
Book/tax difference due to interest income on certain loans | — | 878 | Book/tax difference due to interest income on certain loans | 130 | — | |||||||||||||||||
Book/tax difference due to capital losses not recognized / (recognized) | (3,977 | ) | (17,702 | ) | ||||||||||||||||||
Book/tax difference due to capital losses utilized | Book/tax difference due to capital losses utilized | (9,943) | (3,977) | |||||||||||||||||||
Other book/tax differences | 5,144 | 586 | Other book/tax differences | 5,614 | 5,144 | |||||||||||||||||
Taxable/Distributable Income (1) | $ | 12,109 | $ | 18,445 | Taxable/Distributable Income (1) | $ | 13,767 | $ | 12,109 |
Undistributed ordinary income, net | $ | 10,699 | |
Net realized capital losses | (515,800 | ) | |
Unrealized losses, net | (53,451 | ) |
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) | ||
YETI Holdings, Inc. | $ | 3.4 | |
Other, net | (0.1 | ) | |
Total, net | $ | 3.3 |
($ in millions) | |||
Portfolio Company | Net Realized Gain (Loss) | ||
BeyondTrust Holdings LLC | $ | 12.4 | |
InMotion Entertainment Group, LLC | 2.7 | ||
YETI Holdings, Inc. | 2.7 | ||
Other, net | 0.2 | ||
Total, net | $ | 18.0 |
($ 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 | $ | — |
Accrued fee waivers as of September 30, 2019 |
$ | 9.1 | ||
(5.2) | |||||
Contractual fees waived under the Investment Advisory Agreement (3) | |||||
Accrued fee waivers as of | $ | — |
($ 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 |
($ in millions) | September 30, 2019 (1) | ||||
$ | 4.6 | ||||
Contractual fees waived | (3.9) | ||||
Capital gains incentive fee payable under the Investment Advisory Agreement (net of waivers) | $ | 0.8 |
(Share amounts in thousands) | Three months ended December 31, 2019 | Three months ended December 31, 2018 | (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 | $6.60 | $6.09 | Net asset value per share at beginning of period | $6.49 | $6.60 | |||||||||||||
Net investment income (1) | 0.06 | 0.12 | Net investment income (1) | 0.07 | 0.06 | |||||||||||||
Net unrealized appreciation (depreciation) (1) | 0.03 | (0.05) | Net unrealized appreciation (depreciation) (1) | 0.34 | 0.03 | |||||||||||||
Net realized gains (losses) (1) | 0.02 | 0.13 | Net realized gains (losses) (1) | 0.06 | 0.02 | |||||||||||||
Distributions to stockholders | (0.10) | (0.10) | ||||||||||||||||
Distributions of net investment income to stockholders | Distributions of net investment income to stockholders | (0.11) | (0.10) | |||||||||||||||
Net asset value per share at end of period | $6.61 | $6.19 | Net asset value per share at end of period | $6.85 | $6.61 | |||||||||||||
Per share market value at beginning of period | $5.18 | $4.96 | Per share market value at beginning of period | $4.84 | $5.18 | |||||||||||||
Per share market value at end of period | $5.46 | $4.23 | Per share market value at end of period | $5.57 | $5.46 | |||||||||||||
Total return (2) | 7.23% | (12.87)% | Total return (2) | 17.34% | 7.23% | |||||||||||||
Common shares outstanding at beginning of period | 140,961 | 140.961 | Common shares outstanding at beginning of period | 140,961 | 140,961 | |||||||||||||
Common shares outstanding at end of period | 140,961 | 140.961 | Common shares outstanding at end of period | 140,961 | 140,961 | |||||||||||||
Net assets at beginning of period | $930,630 | $858,035 | Net assets at beginning of period | $914,879 | $930,630 | |||||||||||||
Net assets at end of period | $931,082 | $872,362 | Net assets at end of period | $964,917 | $931,082 | |||||||||||||
Average net assets (3) | $934,932 | $869,855 | Average net assets (3) | $944,955 | $934,932 | |||||||||||||
Ratio of net investment income to average net assets (4) | 3.33% | 7.90% | Ratio of net investment income to average net assets (4) | 4.21% | 3.33% | |||||||||||||
Ratio of total expenses to average net assets (4) | 7.61% | 10.27% | Ratio of total expenses to average net assets (4) | 11.83% | 7.61% | |||||||||||||
Ratio of net expenses to average net assets (4) | 9.81% | 9.56% | Ratio of net expenses to average net assets (4) | 11.83% | 9.81% | |||||||||||||
Ratio of portfolio turnover to average investments at fair value | 6.68% | 10.99% | Ratio of portfolio turnover to average investments at fair value | 10.34% | 6.68% | |||||||||||||
Weighted average outstanding debt (5) | $489,564 | $614,369 | Weighted average outstanding debt (5) | $703,403 | $489,564 | |||||||||||||
Average debt per share (1) | $3.47 | $4.36 | Average debt per share (1) | $4.99 | $3.47 | |||||||||||||
Asset coverage ratio at end of period (6) | 271.92% | 241.91% | 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. | ||||
(3) | Calculated based upon the weighted average net assets for the period. | ||||
(4) | Interim periods are annualized. | ||||
(5) | Calculated based upon the weighted average of debt outstanding for the period. | ||||
(6) | Based on outstanding senior securities 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 | 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 | $ | 23,037 | £ | 17,835 | 2/18/2020 | $ | — | $ | (622 | ) | Derivative liability | Foreign currency forward contract | $ | 36,999 | £ | 27,894 | 2/11/2021 | $ | — | $ | (1,141) | Derivative liability | ||||||||||||||||||||||||||||||||||||
Foreign currency forward contract | $ | 19,028 | € | 17,200 | 2/28/2020 | $ | — | $ | (350 | ) | Derivative liability | Foreign currency forward contract | $ | 30,308 | € | 25,614 | 2/11/2021 | $ | — | $ | (1,062) | Derivative liability | ||||||||||||||||||||||||||||||||||||
$ | — | $ | (972 | ) | $ | — | $ | (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 | $ | — |
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 | $ | 22,161 | £ | 17,910 | 10/15/2019 | $ | 76 | $ | — | Derivative asset | ||||||||||
Foreign currency forward contract | $ | 19,193 | € | 17,150 | 11/29/2019 | $ | 414 | $ | — | Derivative asset | ||||||||||
$ | 490 | $ | — |
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 |
December 31, 2019 | September 30, 2019 | |||||||
Assembled Brands Capital LLC | $ | 35,182 | $ | 35,182 | ||||
Connect U.S. Finco LLC | 17,732 | — | ||||||
P2 Upstream Acquisition Co. | 9,000 | 9,000 | ||||||
PaySimple, Inc. | 8,702 | 12,250 | ||||||
Sorrento Therapeutics, Inc. | 7,500 | 7,500 | ||||||
Corrona, LLC | 5,494 | — | ||||||
Pingora MSR Opportunity Fund I-A, LP | 3,500 | 3,500 | ||||||
Mindbody, Inc. | 3,048 | 3,048 | ||||||
Acquia Inc. | 2,240 | — | ||||||
New IPT, Inc. | 2,229 | 2,229 | ||||||
4 Over International, LLC | 1,849 | 1,977 | ||||||
Apptio, Inc. | 1,538 | 1,538 | ||||||
Senior Loan Fund JV I, LLC | 1,328 | 1,328 | ||||||
iCIMs, Inc. | 882 | 882 | ||||||
Ministry Brands, LLC | 800 | 800 | ||||||
GKD Index Partners, LLC | 578 | 1,156 | ||||||
PLATO Learning Inc. (1) | 107 | 746 | ||||||
TerSera Therapeutics, LLC | — | 4,200 | ||||||
Thruline Marketing, Inc. | — | 3,000 | ||||||
Total | $ | 101,709 | $ | 88,336 |
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 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, 2019 | Gross Additions (3) | Gross Reductions (4) | Fair Value at 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. (7) | 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 | % |
(1)The principal amount and ownership detail are shown in the Company's |
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, 2018 | Gross Additions (3) | Gross Reductions (4) | Fair Value at December 31, 2018 | % of Total Net Assets | ||||||||||||||||||||||||||
Control Investments | ||||||||||||||||||||||||||||||||||||
First Star Speir Aviation Limited (5) | Airlines | |||||||||||||||||||||||||||||||||||
First Lien Term Loan, 9% cash due 12/15/2020 | $ | 32,510 | $ | — | $ | 453 | $ | 32,510 | $ | 403 | $ | (403 | ) | $ | 32,510 | 3.7 | % | |||||||||||||||||||
100% equity interest | — | — | — | — | 967 | — | 967 | 0.1 | % | |||||||||||||||||||||||||||
Keypath Education, Inc. | Advertising | |||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7% (1% floor) cash due 4/3/2022 | 9.80 | % | 18,146 | — | 436 | 18,146 | — | — | 18,146 | 2.1 | % | |||||||||||||||||||||||||
First Lien Revolver, LIBOR+7.75% (1% floor) cash due 4/3/2022 | — | — | 4 | — | — | — | — | — | % | |||||||||||||||||||||||||||
9,073 Class A Units in FS AVI Holdco, LLC | — | — | — | 7,984 | — | — | 7,984 | 0.9 | % | |||||||||||||||||||||||||||
New IPT, Inc. | Oil & gas equipment services | |||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5% (1% floor) cash due 3/17/2021 | 7.80 | % | 4,107 | — | 84 | 4,107 | — | — | 4,107 | 0.5 | % | |||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+5.1% (1% floor) cash due 9/17/2021 | 7.90 | % | 902 | — | 23 | 1,453 | — | (550 | ) | 903 | 0.1 | % | ||||||||||||||||||||||||
First Lien Revolver, LIBOR+5% (1% floor) cash due 3/17/2021 | 7.80 | % | 1,009 | — | 21 | 1,009 | — | — | 1,009 | 0.1 | % | |||||||||||||||||||||||||
50.087 Class A Common Units in New IPT Holdings, LLC | — | — | — | 2,291 | — | — | 2,291 | 0.3 | % | |||||||||||||||||||||||||||
Senior Loan Fund JV I, LLC (6) | Multi-sector holdings | |||||||||||||||||||||||||||||||||||
Class A Mezzanine Secured Deferrable Floating Rate Notes due 2036 in SLF Repack Issuer 2016 LLC | — | — | 2,036 | 99,813 | — | (99,813 | ) | — | — | % | ||||||||||||||||||||||||||
Class B Mezzanine Secured Deferrable Fixed Rate Notes, 10% cash due 2036 in SLF Repack Issuer 2016 LLC | — | — | 707 | 29,520 | 67 | (29,587 | ) | — | — | % | ||||||||||||||||||||||||||
Subordinated Note, LIBOR+7% cash due 12/29/2028 | 9.45 | % | 96,250 | — | 101 | — | 96,250 | — | 96,250 | 11.0 | % | |||||||||||||||||||||||||
87.5% equity interest | — | — | — | 41 | 33,150 | (7,191 | ) | 26,000 | 3.0 | % | ||||||||||||||||||||||||||
Total Control Investments | $ | 152,924 | $ | — | $ | 3,865 | $ | 196,874 | $ | 130,837 | $ | (137,544 | ) | $ | 190,167 | 21.8 | % | |||||||||||||||||||
Affiliate Investments | ||||||||||||||||||||||||||||||||||||
Assembled Brands Capital LLC | Specialized finance | |||||||||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan LIBOR+6% cash due 10/17/2023 | 8.80 | % | $ | 815 | $ | — | $ | 17 | $ | — | $ | 815 | $ | — | $ | 815 | 0.1 | % | ||||||||||||||||||
764,376.60 Class A Units | — | — | — | — | 764 | — | 764 | 0.1 | % | |||||||||||||||||||||||||||
583,190.81 Class B Units | — | — | — | — | — | — | — | — | % | |||||||||||||||||||||||||||
Caregiver Services, Inc. | Healthcare services | |||||||||||||||||||||||||||||||||||
1,080,399 shares of Series A Preferred Stock, 10% | — | — | — | 2,161 | — | — | 2,161 | 0.2 | % | |||||||||||||||||||||||||||
Total Affiliate Investments | $ | 815 | $ | — | $ | 17 | $ | 2,161 | $ | 1,579 | $ | — | $ | 3,740 | 0.4 | % | ||||||||||||||||||||
Total Control & Affiliate Investments | $ | 153,739 | $ | — | $ | 3,882 | $ | 199,035 | $ | 132,416 | $ | (137,544 | ) | $ | 193,907 | 22.2 | % |
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, 2020 | September 30, 2020 | |||||||||||||||||||
December 31, 2019 | September 30, 2019 | |||||||||||||||||||
Cost: | ||||||||||||||||||||
Fair value: | Fair value: | |||||||||||||||||||
Senior secured debt | 78.13 | % | 77.35 | % | Senior secured debt | 85.70 | % | 84.06 | % | |||||||||||
Debt investment in SLF JV I | Debt investment in SLF JV I | 5.62 | 6.12 | |||||||||||||||||
Subordinated debt | 6.32 | 6.88 | Subordinated debt | 3.08 | 4.17 | |||||||||||||||
Debt investments in SLF JV I | 6.26 | 6.36 | ||||||||||||||||||
Common equity and warrants | 3.49 | 3.48 | Common equity and warrants | 2.15 | 2.40 | |||||||||||||||
Preferred equity | Preferred equity | 1.74 | 1.90 | |||||||||||||||||
LLC equity interests of SLF JV I | 3.21 | 3.26 | LLC equity interests of SLF JV I | 1.71 | 1.35 | |||||||||||||||
Preferred equity | 2.59 | 2.67 | ||||||||||||||||||
Total | 100.00 | % | 100.00 | % | Total | 100.00 | % | 100.00 | % |
December 31, 2019 | September 30, 2019 | |||||
Fair value: | ||||||
Senior secured debt | 79.53 | % | 78.64 | % | ||
Debt investments in SLF JV I | 6.56 | 6.69 | ||||
Subordinated debt | 4.84 | 5.65 | ||||
Common equity and warrants | 4.22 | 4.10 | ||||
Preferred equity | 2.65 | 2.82 | ||||
LLC equity interests of SLF JV I | 2.20 | 2.10 | ||||
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, 2019 | September 30, 2019 | |||||
Cost: | ||||||
Application Software | 9.96 | % | 8.73 | % | ||
Multi-Sector Holdings (1) | 9.52 | 9.67 | ||||
Health Care Services | 7.24 | 6.62 | ||||
Data Processing & Outsourced Services | 6.58 | 6.46 | ||||
Property & Casualty Insurance | 5.56 | 4.83 | ||||
Biotechnology | 5.42 | 5.43 | ||||
Pharmaceuticals | 4.11 | 3.92 | ||||
Specialized Finance | 3.48 | 3.52 | ||||
Auto Parts & Equipment | 2.89 | 2.82 | ||||
Research & Consulting Services | 2.58 | 2.30 | ||||
Real Estate Services | 2.55 | 2.60 | ||||
Health Care Technology | 2.38 | 3.37 | ||||
Aerospace & Defense | 2.19 | 2.23 | ||||
Specialty Chemicals | 2.07 | 2.10 | ||||
Systems Software | 2.06 | 2.10 | ||||
Movies & Entertainment | 2.00 | 1.25 | ||||
Oil & Gas Refining & Marketing | 1.97 | 2.01 | ||||
Integrated Telecommunication Services | 1.97 | 2.23 | ||||
Internet Services & Infrastructure | 1.85 | 2.15 | ||||
Managed Health Care | 1.79 | 1.83 | ||||
Electrical Components & Equipment | 1.67 | 1.40 | ||||
Advertising | 1.58 | 2.80 | ||||
Education Services | 1.50 | 1.04 | ||||
Airport Services | 1.46 | — | ||||
Independent Power Producers & Energy Traders | 1.44 | — | ||||
Construction & Engineering | 1.24 | 1.55 | ||||
Health Care Distributors | 1.24 | 1.49 | ||||
General Merchandise Stores | 1.23 | 1.25 | ||||
Diversified Support Services | 1.22 | 1.24 | ||||
Apparel, Accessories & Luxury Goods | 1.16 | 1.20 | ||||
Industrial Machinery | 1.04 | 1.13 | ||||
IT Consulting & Other Services | 0.97 | 0.99 | ||||
Alternative Carriers | 0.76 | 1.94 | ||||
Oil & Gas Equipment & Services | 0.76 | 0.80 | ||||
Oil & Gas Storage & Transportation | 0.75 | 0.77 | ||||
Airlines | 0.69 | 0.70 | ||||
Trading Companies & Distributors | 0.67 | 0.68 | ||||
Specialized REITs | 0.63 | 0.55 | ||||
Household Appliances | 0.51 | 0.52 | ||||
Food Retail | 0.44 | 0.96 | ||||
Commercial Printing | 0.40 | 0.40 | ||||
Restaurants | 0.20 | 0.20 | ||||
Leisure Facilities | 0.12 | 0.12 | ||||
Specialty Stores | 0.08 | 0.09 | ||||
Thrifts & Mortgage Finance | 0.06 | 0.08 | ||||
Other Diversified Financial Services | 0.01 | 0.01 | ||||
Interactive Media & Services | — | 1.44 | ||||
Environmental & Facilities Services | — | 0.39 | ||||
Human Resource & Employment Services | — | 0.05 | ||||
Department Stores | — | 0.04 | ||||
Total | 100.00 | % | 100.00 | % |
December 31, 2019 | September 30, 2019 | December 31, 2020 | September 30, 2020 | |||||||||||||||||
Fair value: | Fair value: | |||||||||||||||||||
Application Software | 10.32 | % | 9.00 | % | Application Software | 12.88 | % | 10.21 | % | |||||||||||
Multi-Sector Holdings (1) | 8.91 | 8.94 | Multi-Sector Holdings (1) | 7.54 | 7.74 | |||||||||||||||
Data Processing & Outsourced Services | 6.96 | 6.83 | Data Processing & Outsourced Services | 7.14 | 6.33 | |||||||||||||||
Pharmaceuticals | Pharmaceuticals | 6.91 | 6.55 | |||||||||||||||||
Biotechnology | 6.28 | 5.96 | Biotechnology | 6.54 | 6.14 | |||||||||||||||
Specialized Finance | Specialized Finance | 4.04 | 3.08 | |||||||||||||||||
Health Care Services | Health Care Services | 3.64 | 3.81 | |||||||||||||||||
Personal Products | Personal Products | 3.27 | 3.24 | |||||||||||||||||
Movies & Entertainment | Movies & Entertainment | 3.00 | 2.77 | |||||||||||||||||
Property & Casualty Insurance | 5.85 | 5.16 | Property & Casualty Insurance | 2.81 | 2.97 | |||||||||||||||
Health Care Services | 4.46 | 4.06 | ||||||||||||||||||
Pharmaceuticals | 4.31 | 4.18 | ||||||||||||||||||
Specialized Finance | 3.65 | 3.58 | ||||||||||||||||||
Integrated Telecommunication Services | Integrated Telecommunication Services | 2.48 | 2.61 | |||||||||||||||||
Real Estate Services | Real Estate Services | 2.23 | 2.40 | |||||||||||||||||
Specialty Chemicals | Specialty Chemicals | 2.16 | 2.48 | |||||||||||||||||
Fertilizers & Agricultural Chemicals | Fertilizers & Agricultural Chemicals | 2.02 | 2.14 | |||||||||||||||||
Auto Parts & Equipment | Auto Parts & Equipment | 1.90 | 1.99 | |||||||||||||||||
Aerospace & Defense | Aerospace & Defense | 1.85 | 1.56 | |||||||||||||||||
Internet Services & Infrastructure | Internet Services & Infrastructure | 1.83 | 1.69 | |||||||||||||||||
Oil & Gas Refining & Marketing | Oil & Gas Refining & Marketing | 1.73 | 1.90 | |||||||||||||||||
Electronic Components | Electronic Components | 1.71 | 1.69 | |||||||||||||||||
Managed Health Care | Managed Health Care | 1.59 | 1.70 | |||||||||||||||||
Research & Consulting Services | 2.88 | 2.60 | Research & Consulting Services | 1.46 | 1.54 | |||||||||||||||
Auto Parts & Equipment | 2.84 | 2.82 | ||||||||||||||||||
Real Estate Services | 2.68 | 2.75 | ||||||||||||||||||
Oil & Gas Storage & Transportation | Oil & Gas Storage & Transportation | 1.36 | 1.64 | |||||||||||||||||
Health Care Technology | 2.59 | 3.64 | Health Care Technology | 1.29 | 1.40 | |||||||||||||||
Aerospace & Defense | 2.29 | 2.35 | ||||||||||||||||||
Systems Software | 2.17 | 2.19 | ||||||||||||||||||
Oil & Gas Refining & Marketing | 2.16 | 2.20 | ||||||||||||||||||
Movies & Entertainment | 2.10 | 1.29 | ||||||||||||||||||
Internet Services & Infrastructure | 1.93 | 2.26 | ||||||||||||||||||
Managed Health Care | 1.88 | 1.93 | ||||||||||||||||||
Electrical Components & Equipment | 1.80 | 1.39 | ||||||||||||||||||
Integrated Telecommunication Services | 1.71 | 2.01 | ||||||||||||||||||
Specialty Chemicals | 1.58 | 1.64 | ||||||||||||||||||
Construction & Engineering | Construction & Engineering | 1.28 | 0.86 | |||||||||||||||||
Health Care Supplies | Health Care Supplies | 1.27 | 1.37 | |||||||||||||||||
Airport Services | 1.53 | — | Airport Services | 1.24 | 1.35 | |||||||||||||||
Independent Power Producers & Energy Traders | 1.51 | — | Independent Power Producers & Energy Traders | 1.20 | 1.32 | |||||||||||||||
Advertising | 1.31 | 2.59 | ||||||||||||||||||
Construction & Engineering | 1.30 | 1.67 | ||||||||||||||||||
Health Care Distributors | 1.28 | 1.53 | ||||||||||||||||||
Insurance Brokers | Insurance Brokers | 1.10 | 1.15 | |||||||||||||||||
Diversified Support Services | 1.26 | 1.30 | Diversified Support Services | 1.07 | 1.12 | |||||||||||||||
General Merchandise Stores | 1.12 | 1.18 | ||||||||||||||||||
Airlines | 1.09 | 1.12 | Airlines | 1.03 | 0.83 | |||||||||||||||
Hotels, Resorts & Cruise Lines | Hotels, Resorts & Cruise Lines | 1.00 | 1.09 | |||||||||||||||||
Systems Software | Systems Software | 0.99 | 1.30 | |||||||||||||||||
Electrical Components & Equipment | Electrical Components & Equipment | 0.95 | 1.30 | |||||||||||||||||
Internet & Direct Marketing Retail | Internet & Direct Marketing Retail | 0.94 | 0.97 | |||||||||||||||||
Industrial Machinery | 1.07 | 1.17 | Industrial Machinery | 0.91 | 0.74 | |||||||||||||||
IT Consulting & Other Services | 0.99 | 0.96 | IT Consulting & Other Services | 0.83 | 0.88 | |||||||||||||||
Leisure Products | 0.99 | 1.05 | ||||||||||||||||||
Advertising | Advertising | 0.81 | 0.85 | |||||||||||||||||
Health Care Distributors | Health Care Distributors | 0.73 | 0.78 | |||||||||||||||||
Restaurants | Restaurants | 0.60 | 0.50 | |||||||||||||||||
Diversified Real Estate Activities | Diversified Real Estate Activities | 0.44 | 1.07 | |||||||||||||||||
Commercial Printing | Commercial Printing | 0.43 | 0.47 | |||||||||||||||||
Food Retail | Food Retail | 0.41 | 0.44 | |||||||||||||||||
Apparel, Accessories & Luxury Goods | Apparel, Accessories & Luxury Goods | 0.39 | 0.50 | |||||||||||||||||
Education Services | Education Services | 0.39 | 0.45 | |||||||||||||||||
Trading Companies & Distributors | Trading Companies & Distributors | 0.33 | 0.64 | |||||||||||||||||
Oil & Gas Equipment & Services | 0.87 | 0.95 | Oil & Gas Equipment & Services | 0.14 | 0.16 | |||||||||||||||
Apparel, Accessories & Luxury Goods | 0.86 | 0.92 | ||||||||||||||||||
Alternative Carriers | 0.85 | 2.06 | ||||||||||||||||||
Oil & Gas Storage & Transportation | 0.81 | 0.83 | ||||||||||||||||||
Trading Companies & Distributors | 0.70 | 0.72 | ||||||||||||||||||
Construction Materials | Construction Materials | 0.13 | 0.13 | |||||||||||||||||
Thrifts & Mortgage Finance | Thrifts & Mortgage Finance | 0.01 | 0.02 | |||||||||||||||||
Leisure Facilities | Leisure Facilities | — | — | |||||||||||||||||
General Merchandise Stores | General Merchandise Stores | — | 1.14 | |||||||||||||||||
Metal & Glass Containers | Metal & Glass Containers | — | 0.75 | |||||||||||||||||
Health Care Facilities | Health Care Facilities | — | 0.23 | |||||||||||||||||
Specialized REITs | 0.66 | 0.57 | Specialized REITs | — | 0.01 | |||||||||||||||
Household Appliances | 0.53 | 0.53 | ||||||||||||||||||
Education Services | 0.52 | — | ||||||||||||||||||
Food Retail | 0.48 | 1.04 | ||||||||||||||||||
Commercial Printing | 0.41 | 0.41 | ||||||||||||||||||
Leisure Facilities | 0.29 | 0.33 | ||||||||||||||||||
Restaurants | 0.19 | 0.19 | ||||||||||||||||||
Thrifts & Mortgage Finance | 0.03 | 0.05 | ||||||||||||||||||
Interactive Media & Services | — | 1.56 | ||||||||||||||||||
Environmental & Facilities Services | — | 0.41 | ||||||||||||||||||
Human Resource & Employment Services | — | 0.05 | ||||||||||||||||||
Department stores | — | 0.03 | ||||||||||||||||||
Total | 100.00 | % | 100.00 | % | Total | 100.00 | % | 100.00 | % |
December 31, 2019 | September 30, 2019 | 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 | $ | 1,336,000 | 95.74 | % | $ | 1,334,143 | 99.97 | % | $ | 1,311,849 | 95.72 | % | $ | 1,305,718 | 99.79 | % | 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 | 0.91 | — | — | 12,661 | 0.92 | — | — | PIK non-accrual (1) | — | — | — | — | 12,661 | 0.83 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash non-accrual (2) | 46,745 | 3.35 | 461 | 0.03 | 46,107 | 3.36 | 2,706 | 0.21 | Cash non-accrual (2) | 588 | 0.04 | 470 | 0.03 | 5,712 | 0.38 | 1,571 | 0.11 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,395,406 | 100.00 | % | $ | 1,334,604 | 100.00 | % | $ | 1,370,617 | 100.00 | % | $ | 1,308,424 | 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, 2019 | September 30, 2019 | December 31, 2020 | September 30, 2020 | |||||||||||||||
Senior secured loans (1) | $324,586 | $340,960 | Senior secured loans (1) | $313,978 | $307,579 | |||||||||||||
Weighted average interest rate on senior secured loans (2) | 6.31% | 6.57% | Weighted average interest rate on senior secured loans (2) | 5.65% | 5.44% | |||||||||||||
Number of borrowers in SLF JV I | 51 | 51 | Number of borrowers in SLF JV I | 56 | 56 | |||||||||||||
Largest exposure to a single borrower (1) | $10,808 | $10,835 | Largest exposure to a single borrower (1) | $9,879 | $10,487 | |||||||||||||
Total of five largest loan exposures to borrowers (1) | $50,333 | $50,510 | 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 | 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 | 5.44 | % | Diversified Support Services | $ | 9,276 | $ | 9,235 | $ | 9,284 | ||||||
AdVenture Interactive, Corp. | 927 shares of common stock | Advertising | 1,390 | 1,314 | (4) | |||||||||||
AI Ladder (Luxembourg) Subco S.a.r.l. | First Lien Term Loan, LIBOR+4.50% cash due 7/9/2025 | 6.44 | % | Electrical Components & Equipment | 6,118 | 5,972 | 6,126 | (4) | ||||||||
Altice France S.A. | First Lien Term Loan, LIBOR+4.00% cash due 8/14/2026 | 5.74 | % | Integrated Telecommunication Services | 7,425 | 7,270 | 7,454 | |||||||||
Alvogen Pharma US, Inc. | First Lien Term Loan, LIBOR+4.75% cash due 4/1/2022 | 6.55 | % | Pharmaceuticals | 9,429 | 9,169 | 8,266 | |||||||||
Anastasia Parent, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/11/2025 | 5.68 | % | Personal Products | 2,850 | 2,344 | 2,443 | |||||||||
Apptio, Inc. | First Lien Term Loan, LIBOR+7.25% cash due 1/10/2025 | 8.96 | % | Application Software | 4,615 | 4,538 | 4,531 | (4) | ||||||||
First Lien Revolver, LIBOR+7.25% cash due 1/10/2025 | Application Software | — | (6 | ) | (7 | ) | (4)(5) | |||||||||
Total Apptio, Inc. | 4,532 | 4,524 | ||||||||||||||
Aurora Lux Finco S.À.R.L. | First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026 | 7.93 | % | Airport Services | 6,500 | 6,338 | 6,338 | (4) | ||||||||
Blackhawk Network Holdings, Inc. | First Lien Term Loan, LIBOR+3.00% cash due 6/15/2025 | 4.80 | % | Data Processing & Outsourced Services | 9,850 | 9,831 | 9,868 | |||||||||
Boxer Parent Company Inc. | First Lien Term Loan, LIBOR+4.25% cash due 10/2/2025 | 6.05 | % | Systems Software | 7,590 | 7,501 | 7,522 | (4) | ||||||||
Brazos Delaware II, LLC | First Lien Term Loan, LIBOR+4.00% cash due 5/21/2025 | 5.79 | % | Oil & Gas Equipment & Services | 7,388 | 7,359 | 6,353 | |||||||||
C5 Technology Holdings, LLC | 171 Common Units | Data Processing & Outsourced Services | — | — | (4) | |||||||||||
7,193,539.63 Preferred Units | 7,194 | 7,194 | (4) | |||||||||||||
Total C5 Technology Holdings, LLC | 7,194 | 7,194 | ||||||||||||||
Cast & Crew Payroll, LLC | First Lien Term Loan, LIBOR+4.00% cash due 2/9/2026 | 5.80 | % | Application Software | 4,963 | 4,913 | 4,994 | |||||||||
CITGO Petroleum Corp. | First Lien Term Loan, LIBOR+5.00% cash due 3/28/2024 | 6.94 | % | Oil & Gas Refining & Marketing | 7,940 | 7,860 | 7,990 | (4) | ||||||||
Connect U.S. Finco LLC | First Lien Delayed Draw Term Loan, LIBOR+4.50% cash due 12/11/2026 | 6.29 | % | Alternative Carriers | 3,272 | 3,112 | 3,331 | (4)(5) | ||||||||
Cortes NP Acquisition Corporation | First Lien Term Loan, LIBOR+4.00% cash due 11/30/2023 | 5.93 | % | Electrical Components & Equipment | 4,290 | 4,075 | 4,290 | (4) | ||||||||
Curium Bidco S.à.r.l. | First Lien Term Loan, LIBOR+4.00% cash due 7/9/2026 | 5.94 | % | Biotechnology | 5,985 | 5,940 | 6,041 | |||||||||
Dcert Buyer, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 10/16/2026 | 5.80 | % | Internet Services & Infrastructure | 8,000 | 7,980 | 8,040 | |||||||||
Ellie Mae, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 4/17/2026 | 5.94 | % | Application Software | 4,987 | 4,963 | 5,028 | |||||||||
eResearch Technology, Inc. | First Lien Term Loan, LIBOR+4.50% cash due 11/20/2026 | 6.39 | % | Application Software | 7,500 | 7,425 | 7,570 | |||||||||
Falmouth Group Holdings Corp. | First Lien Term Loan, LIBOR+6.75% cash due 12/14/2021 | 8.55 | % | Specialty Chemicals | 4,938 | 4,909 | 4,910 | |||||||||
Frontier Communications Corporation | First Lien Term Loan, LIBOR+3.75% cash due 6/15/2024 | 5.55 | % | Integrated Telecommunication Services | 6,457 | 6,384 | 6,502 | |||||||||
Gigamon, Inc. | First Lien Term Loan, LIBOR+4.25% cash due 12/27/2024 | 6.04 | % | Systems Software | 7,840 | 7,784 | 7,771 | |||||||||
GoodRx, Inc. | First Lien Term Loan, LIBOR+2.75% cash due 10/10/2025 | 4.55 | % | Interactive Media & Services | 7,832 | 7,816 | 7,894 |
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 | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | |||||||||
Guidehouse LLP | Second Lien Term Loan, LIBOR+8.00% cash due 5/1/2026 | 9.80 | % | Research & Consulting Services | $ | 6,000 | $ | 5,976 | $ | 5,910 | (4) | |||||
Helios Software Holdings, Inc. | First Lien Term Loan, LIBOR+4.25% cash due 10/24/2025 | 6.18 | % | Systems Software | 4,000 | 3,960 | 3,979 | |||||||||
Indivior Finance S.a.r.l. | First Lien Term Loan, LIBOR+4.50% cash due 12/19/2022 | 6.43 | % | Pharmaceuticals | 7,864 | 7,771 | 7,287 | |||||||||
Intelsat Jackson Holdings S.A. | First Lien Term Loan, LIBOR+3.75% cash due 11/27/2023 | 5.68 | % | Alternative Carriers | 10,000 | 9,897 | 10,035 | |||||||||
KIK Custom Products Inc. | First Lien Term Loan, LIBOR+4.00% cash due 5/15/2023 | 5.79 | % | Household Products | 8,000 | 7,974 | 7,876 | |||||||||
Mindbody, Inc. | First Lien Term Loan, LIBOR+7.00% cash due 2/14/2025 | 8.79 | % | Internet Services & Infrastructure | 4,524 | 4,446 | 4,442 | (4) | ||||||||
First Lien Revolver, LIBOR+7.00% cash due 2/14/2025 | Internet Services & Infrastructure | — | (8 | ) | (9 | ) | (4)(5) | |||||||||
Total Mindbody, Inc. | 4,438 | 4,433 | ||||||||||||||
Navicure, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 10/22/2026 | 5.80 | % | Health Care Technology | 6,000 | 5,970 | 6,041 | |||||||||
New IPT, Inc. | First Lien Term Loan, LIBOR+5.00% cash due 3/17/2021 | 6.94 | % | Oil & Gas Equipment & Services | 1,203 | 1,203 | 1,203 | (4) | ||||||||
21.876 Class A Common Units in New IPT Holdings, LLC | Oil & Gas Equipment & Services | — | 1,268 | (4) | ||||||||||||
Total New IPT, Inc. | 1,203 | 2,471 | ||||||||||||||
Northern Star Industries Inc. | First Lien Term Loan, LIBOR+4.50% cash due 3/31/2025 | 6.56 | % | Electrical Components & Equipment | 6,877 | 6,852 | 6,774 | |||||||||
Novetta Solutions, LLC | First Lien Term Loan, LIBOR+5.00% cash due 10/17/2022 | 6.80 | % | Application Software | 5,977 | 5,948 | 5,889 | |||||||||
OEConnection LLC | First Lien Term Loan, LIBOR+4.00% cash due 9/25/2026 | 5.80 | % | Application Software | 7,289 | 7,253 | 7,335 | |||||||||
First Lien Delayed Draw Term Loan, LIBOR+4.00% cash due 9/25/2026 | Application Software | — | (3 | ) | 4 | (5) | ||||||||||
Total OEConnection LLC | 7,250 | 7,339 | ||||||||||||||
Red Ventures, LLC | First Lien Term Loan, LIBOR+3.00% cash due 11/8/2024 | 4.80 | % | Interactive Media & Services | 3,980 | 3,962 | 4,013 | |||||||||
Sabert Corporation | First Lien Term Loan, LIBOR+4.50% cash due 12/10/2026 | 6.25 | % | Metal & Glass Containers | 4,350 | 4,307 | 4,395 | |||||||||
Salient CRGT, Inc. | First Lien Term Loan, LIBOR+6.50% cash due 2/28/2022 | 8.29 | % | Aerospace & Defense | 2,189 | 2,169 | 2,080 | (4) | ||||||||
Scientific Games International, Inc. | First Lien Term Loan, LIBOR+2.75% cash due 8/14/2024 | 4.55 | % | Casinos & Gaming | 6,499 | 6,476 | 6,526 | |||||||||
SHO Holding I Corporation | First Lien Term Loan, LIBOR+5.00% cash due 10/27/2022 | 6.93 | % | Footwear | 8,397 | 8,382 | 7,516 | |||||||||
Signify Health, LLC | First Lien Term Loan, LIBOR+4.50% cash due 12/23/2024 | 6.44 | % | Health Care Services | 9,825 | 9,754 | 9,813 | |||||||||
Sirva Worldwide, Inc. | First Lien Term Loan, LIBOR+5.50% cash due 8/4/2025 | 7.44 | % | Diversified Support Services | 4,875 | 4,802 | 4,826 | |||||||||
Sunshine Luxembourg VII SARL | First Lien Term Loan, LIBOR+4.25% cash due 10/1/2026 | 6.19 | % | Personal Products | 8,000 | 7,960 | 8,086 | |||||||||
Supermoose Borrower, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025 | 5.55 | % | Application Software | 4,619 | 4,267 | 4,424 | (4) | ||||||||
Thruline Marketing, Inc. | 927 Class A Units in FS AVI Holdco, LLC | Advertising | 1,088 | 658 | (4) | |||||||||||
Thunder Finco (US), LLC | First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026 | 6.04 | % | Movies & Entertainment | 8,000 | 7,920 | 8,000 | |||||||||
Triple Royalty Sub LLC | Fixed Rate Bond 144A 9.00% cash due 4/15/2033 | Pharmaceuticals | 4,955 | 4,955 | 5,128 | |||||||||||
Uber Technologies, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 4/4/2025 | 5.74 | % | Application Software | 9,850 | 9,813 | 9,861 | (4) | ||||||||
UFC Holdings, LLC | First Lien Term Loan, LIBOR+3.25% cash due 4/29/2026 | 5.05 | % | Movies & Entertainment | 4,477 | 4,477 | 4,513 | |||||||||
Uniti Group LP | First Lien Term Loan, LIBOR+5.00% cash due 10/24/2022 | 6.80 | % | Specialized REITs | 6,385 | 6,220 | 6,286 | (4) |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||||||||||
Valeant Pharmaceuticals International Inc. | First Lien Term Loan, LIBOR+2.75% cash due 11/27/2025 | 4.49 | % | Pharmaceuticals | $ | 1,722 | $ | 1,714 | $ | 1,733 | |||||||||||||||||||||||||||||||||||
PG&E Corporation | 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. | 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. | 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. | 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 | 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. | 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 | 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 | 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. | 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 | 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 | 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 | 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. | 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+4.50% cash due 1/27/2023 | 6.30 | % | Application Software | 6,876 | 6,841 | 6,640 | (4) | 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 | |||||||||||||||||||||||||||||
Verra Mobility, Corp. | First Lien Term Loan, LIBOR+3.75% cash due 2/28/2025 | 5.55 | % | Data Processing & Outsourced Services | 10,808 | 10,821 | 10,893 | ||||||||||||||||||||||||||||||||||||||
Verscend Holding Corp. | 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 | 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 | 9.68 | % | Aerospace & Defense | 6,000 | 5,951 | 5,929 | (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) | ||||||||||||||||||||||||||||
$ | 324,586 | $ | 330,414 | $ | 330,401 | $ | 313,978 | $ | 317,432 | $ | 313,261 |
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 | |||||||||
Access CIG, LLC | First Lien Term Loan, LIBOR+3.75% cash due 2/27/2025 | 6.07 | % | Diversified support services | $ | 9,300 | $ | 9,256 | $ | 9,201 | ||||||
AdVenture Interactive, Corp. | 927 shares of common stock | Advertising | 1,390 | 1,295 | (4) | |||||||||||
AI Ladder (Luxembourg) Subco S.a.r.l. | First Lien Term Loan, LIBOR+4.50% cash due 7/9/2025 | 6.60 | % | Electrical components & equipment | 6,145 | 5,992 | 5,659 | (4) | ||||||||
Air Newco LP | First Lien Term Loan, LIBOR+4.75% cash due 5/31/2024 | 6.79 | % | IT consulting & other services | 9,900 | 9,875 | 9,916 | |||||||||
AL Midcoast Holdings LLC | First Lien Term Loan, LIBOR+5.50% cash due 8/1/2025 | 7.60 | % | Oil & gas storage & transportation | 9,900 | 9,801 | 9,764 | |||||||||
Altice France S.A. | First Lien Term Loan, LIBOR+4.00% cash due 8/14/2026 | 6.03 | % | Integrated telecommunication services | 7,444 | 7,282 | 7,439 | |||||||||
Alvogen Pharma US, Inc. | First Lien Term Loan, LIBOR+4.75% cash due 4/1/2022 | 6.79 | % | Pharmaceuticals | 7,656 | 7,656 | 6,963 | |||||||||
Apptio, Inc. | First Lien Term Loan, LIBOR+7.25% cash due 1/10/2025 | 9.56 | % | Application software | 4,615 | 4,534 | 4,530 | (4) | ||||||||
First Lien Revolver, LIBOR+7.25% cash due 1/10/2025 | Application software | — | (7 | ) | (7 | ) | (4)(5) | |||||||||
Total Apptio, Inc. | 4,527 | 4,523 | ||||||||||||||
Blackhawk Network Holdings, Inc. | First Lien Term Loan, LIBOR+3.00% cash due 6/15/2025 | 5.04 | % | Data processing & outsourced services | 9,875 | 9,855 | 9,858 | |||||||||
Boxer Parent Company Inc. | First Lien Term Loan, LIBOR+4.25% cash due 10/2/2025 | 6.29 | % | Systems software | 7,609 | 7,518 | 7,336 | (4) | ||||||||
Brazos Delaware II, LLC | First Lien Term Loan, LIBOR+4.00% cash due 5/21/2025 | 6.05 | % | Oil & gas equipment & services | 7,406 | 7,376 | 6,855 | |||||||||
C5 Technology Holdings, LLC | 171 Common Units | Data Processing & Outsourced Services | — | — | (4) | |||||||||||
7,193,539.63 Preferred Units | 7,194 | 7,194 | (4) | |||||||||||||
Total C5 Technology Holdings, LLC | 7,194 | 7,194 |
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 | |||||||||
Cast & Crew Payroll, LLC | First Lien Term Loan, LIBOR+4.00% cash due 2/9/2026 | 6.05 | % | Application software | $ | 4,975 | $ | 4,925 | $ | 5,018 | ||||||
CITGO Petroleum Corp. | First Lien Term Loan, LIBOR+5.00% cash due 3/28/2024 | 7.10 | % | Oil & gas refining & marketing | 7,960 | 7,880 | 8,010 | (4) | ||||||||
Connect U.S. Finco LLC | First Lien Term Loan, LIBOR+4.50% cash due 9/23/2026 | 7.10 | % | Alternative Carriers | 8,000 | 7,840 | 7,888 | (4) | ||||||||
Curium Bidco S.à r.l. | First Lien Term Loan, LIBOR+4.00% cash due 7/9/2026 | 6.10 | % | Biotechnology | 6,000 | 5,955 | 6,030 | |||||||||
Dcert Buyer, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 8/8/2026 | 6.26 | % | Internet services & infrastructure | 8,000 | 7,980 | 7,985 | |||||||||
DigiCert, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 10/31/2024 | 6.04 | % | Internet services & infrastructure | 8,250 | 8,148 | 8,249 | (4) | ||||||||
Ellie Mae, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 4/17/2026 | 6.04 | % | Application software | 5,000 | 4,975 | 5,015 | |||||||||
Everi Payments Inc. | First Lien Term Loan, LIBOR+3.00% cash due 5/9/2024 | 5.04 | % | Casinos & gaming | 4,764 | 4,742 | 4,776 | |||||||||
Falmouth Group Holdings Corp. | First Lien Term Loan, LIBOR+6.75% cash due 12/14/2021 | 8.95 | % | Specialty chemicals | 4,938 | 4,909 | 4,910 | |||||||||
Frontier Communications Corporation | First Lien Term Loan, LIBOR+3.75% cash due 6/15/2024 | 5.80 | % | Integrated telecommunication services | 6,473 | 6,400 | 6,471 | |||||||||
Gentiva Health Services, Inc. | First Lien Term Loan, LIBOR+3.75% cash due 7/2/2025 | 5.81 | % | Healthcare services | 7,920 | 7,801 | 7,974 | |||||||||
Gigamon, Inc. | First Lien Term Loan, LIBOR+4.25% cash due 12/27/2024 | 6.29 | % | Systems software | 7,860 | 7,801 | 7,644 | |||||||||
GoodRx, Inc. | First Lien Term Loan, LIBOR+2.75% cash due 10/10/2025 | 4.81 | % | Interactive media & services | 7,852 | 7,835 | 7,862 | |||||||||
Guidehouse LLP | Second Lien Term Loan, LIBOR+7.50% cash due 5/1/2026 | 9.54 | % | Research & consulting services | 6,000 | 5,975 | 5,925 | (4) | ||||||||
Indivior Finance S.a.r.l. | First Lien Term Loan, LIBOR+4.50% cash due 12/19/2022 | 6.76 | % | Pharmaceuticals | 7,898 | 7,797 | 7,272 | |||||||||
Intelsat Jackson Holdings S.A. | First Lien Term Loan, LIBOR+3.75% cash due 11/27/2023 | 5.80 | % | Alternative Carriers | 10,000 | 9,891 | 10,042 | |||||||||
KIK Custom Products Inc. | First Lien Term Loan, LIBOR+4.00% cash due 5/15/2023 | 6.26 | % | Household products | 8,000 | 7,972 | 7,610 | |||||||||
McDermott Technology (Americas), Inc. | First Lien Term Loan, LIBOR+5.00% cash due 5/9/2025 | 7.10 | % | Oil & gas equipment & services | 4,187 | 4,119 | 2,676 | |||||||||
Mindbody, Inc. | First Lien Term Loan, LIBOR+7.00% cash due 2/14/2025 | 9.06 | % | Internet services & infrastructure | 4,524 | 4,443 | 4,438 | (4) | ||||||||
First Lien Revolver, LIBOR+7.00% cash due 2/15/2025 | Internet services & infrastructure | — | (9 | ) | (9 | ) | (4)(5) | |||||||||
Total Mindbody, Inc. | 4,434 | 4,429 | ||||||||||||||
Navicure, Inc. | First Lien Term Loan, LIBOR+3.75% cash due 9/18/2026 | 6.13 | % | Healthcare technology | 6,000 | 5,970 | 6,008 | |||||||||
New IPT, Inc. | First Lien Term Loan, LIBOR+5.00% cash due 3/17/2021 | 7.10 | % | Oil & gas equipment & services | 1,422 | 1,422 | 1,422 | (4) | ||||||||
21.876 Class A Common Units in New IPT Holdings, LLC | Oil & gas equipment & services | — | 1,268 | (4) | ||||||||||||
Total New IPT, Inc. | 1,422 | 2,690 | ||||||||||||||
Northern Star Industries Inc. | First Lien Term Loan, LIBOR+4.50% cash due 3/31/2025 | 6.56 | % | Electrical components & equipment | 6,895 | 6,868 | 6,792 | |||||||||
Novetta Solutions, LLC | First Lien Term Loan, LIBOR+5.00% cash due 10/17/2022 | 7.05 | % | Application software | 5,993 | 5,961 | 5,882 | |||||||||
OCI Beaumont LLC | First Lien Term Loan, LIBOR+4.00% cash due 3/13/2025 | 6.10 | % | Commodity chemicals | 7,880 | 7,872 | 7,890 | |||||||||
OEConnection LLC | First Lien Term Loan, LIBOR+4.00% cash due 9/24/2026 | 6.13 | % | Application software | 7,312 | 7,275 | 7,298 | |||||||||
First Lien Delayed Draw Term Loan, LIBOR+4.00% cash due 9/24/2026 | Application software | — | (3 | ) | (1 | ) | (5) | |||||||||
Total OEConnection LLC | 7,272 | 7,297 | ||||||||||||||
Red Ventures, LLC | First Lien Term Loan, LIBOR+3.00% cash due 11/8/2024 | 5.04 | % | Interactive media & services | 3,990 | 3,971 | 4,011 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||||||||||
Salient CRGT, Inc. | First Lien Term Loan, LIBOR+6.00% cash due 2/28/2022 | 8.05 | % | Aerospace & defense | $ | 2,205 | $ | 2,183 | $ | 2,094 | (4) | 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) | ||||||||||||||||||||||
Scientific Games International, Inc. | First Lien Term Loan, LIBOR+2.75% cash due 8/14/2024 | 4.79 | % | Casinos & gaming | 6,516 | 6,491 | 6,470 | ||||||||||||||||||||||||||||||||||||||
SHO Holding I Corporation | First Lien Term Loan, LIBOR+5.00% cash due 10/27/2022 | 7.26 | % | Footwear | 8,420 | 8,403 | 7,999 | 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 | 6.60 | % | Healthcare services | 9,850 | 9,775 | 9,838 | 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 | 7.54 | % | Diversified support services | 4,906 | 4,833 | 4,759 | 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 | 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 9/25/2026 | 6.59 | % | Personal products | 8,000 | 7,960 | 8,048 | 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 | ||||||||||||||||||||||||||||||
Thruline Marketing, Inc. | First Lien Term Loan, LIBOR+7.00% cash due 4/3/2022 | 9.10 | % | Advertising | 1,854 | 1,851 | 1,854 | (4) | |||||||||||||||||||||||||||||||||||||
927 Class A Units in FS AVI Holdco, LLC | Advertising | 1,088 | 658 | (4) | |||||||||||||||||||||||||||||||||||||||||
Total Thruline Marketing, Inc. | 2,939 | 2,512 | |||||||||||||||||||||||||||||||||||||||||||
Triple Royalty Sub LLC | Fixed Rate Bond 144A 9.0% Toggle PIK cash due 4/15/2033 | Pharmaceuticals | 5,000 | 5,000 | 5,175 | ||||||||||||||||||||||||||||||||||||||||
Supermoose Borrower, LLC | 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. | 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 | 6.03 | % | Application software | 9,875 | 9,836 | 9,836 | (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 | 5.30 | % | Movies & entertainment | 4,489 | 4,489 | 4,506 | 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 | ||||||||||||||||||||||||||||||
Uniti Group LP | First Lien Term Loan, LIBOR+5.00% cash due 10/24/2022 | 7.04 | % | Specialized REITs | 6,401 | 6,221 | 6,256 | (4) | |||||||||||||||||||||||||||||||||||||
Valeant Pharmaceuticals International Inc. | First Lien Term Loan, LIBOR+2.75% cash due 11/27/2025 | 4.79 | % | Pharmaceuticals | 1,772 | 1,764 | 1,778 | ||||||||||||||||||||||||||||||||||||||
Veritas US Inc. | First Lien Term Loan, LIBOR+4.50% cash due 1/27/2023 | 6.60 | % | Application software | 6,894 | 6,856 | 6,534 | (4) | 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 | |||||||||||||||||||||||||||||
Verra Mobility, Corp. | First Lien Term Loan, LIBOR+3.75% cash due 2/28/2025 | 5.79 | % | Data processing & outsourced services | 10,835 | 10,849 | 10,894 | ||||||||||||||||||||||||||||||||||||||
Verscend Holding Corp. | 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. | 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 | 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 | 10.01 | % | Aerospace & defense | 6,000 | 5,949 | 5,974 | (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) | ||||||||||||||||||||||||||||
$ | 340,960 | $ | 347,985 | $ | 345,032 | $ | 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, 2019 | September 30, 2019 | |||||||
Selected Balance Sheet Information: | ||||||||
Investments at fair value (cost December 31, 2019: $330,414; cost September 30, 2019: $347,985) | $ | 330,401 | $ | 345,032 | ||||
Cash and cash equivalents | 9,762 | 3,674 | ||||||
Restricted cash | 5,157 | 5,242 | ||||||
Other assets | 6,410 | 6,912 | ||||||
Total assets | $ | 351,730 | $ | 360,860 | ||||
Senior credit facility payable | $ | 189,710 | $ | 170,210 | ||||
Debt securities payable at fair value (proceeds December 31, 2019: $110,000; proceeds September 30, 2019: $110,000) | 110,000 | 110,000 | ||||||
Other liabilities | 15,194 | 46,303 | ||||||
Total liabilities | 314,904 | 326,513 | ||||||
Members' equity | 36,826 | 34,347 | ||||||
Total liabilities and members' equity | $ | 351,730 | $ | 360,860 |
Three months ended December 31, 2019 | Three months ended December 31, 2018 | Three months ended December 31, 2020 | Three months ended December 31, 2019 | |||||||||||||||||||
Selected Statements of Operations Information: | Selected Statements of Operations Information: | |||||||||||||||||||||
Interest income | $ | 5,393 | $ | 5,438 | Interest income | $ | 4,475 | $ | 5,393 | |||||||||||||
Other income | 6 | 9 | Other income | 54 | 6 | |||||||||||||||||
Total investment income | 5,399 | 5,447 | Total investment income | 4,529 | 5,399 | |||||||||||||||||
Interest expense | 4,641 | 5,154 | Interest expense | 3,581 | 4,641 | |||||||||||||||||
Other expenses | 67 | 50 | Other expenses | 62 | 67 | |||||||||||||||||
Total expenses (1) | 4,708 | 5,204 | Total expenses (1) | 3,643 | 4,708 | |||||||||||||||||
Net unrealized appreciation (depreciation) | 2,941 | (3,456 | ) | Net unrealized appreciation (depreciation) | 8,486 | 2,941 | ||||||||||||||||
Net realized gains (losses) | (1,152 | ) | (5,005 | ) | Net realized gains (losses) | (144) | (1,152) | |||||||||||||||
Net income (loss) | $ | 2,480 | $ | (8,218 | ) | 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 | Date Declared | Record Date | Payment Date | Amount per Share | Cash Distribution | DRIP Shares Issued (1) | DRIP Shares Value | ||||||||||||||||||||||||||||||||||||||||||||||
August 7, 2017 | December 15, 2017 | December 29, 2017 | $ | 0.125 | $ 17.3 million | 58,456 | $ 0.3 million | ||||||||||||||||||||||||||||||||||||||||||||||||||||
February 5, 2018 | March 15, 2018 | March 30, 2018 | 0.085 | 11.5 million | 122,884 | 0.5 million | |||||||||||||||||||||||||||||||||||||||||||||||||||||
May 3, 2018 | June 15, 2018 | June 29, 2018 | 0.095 | 13.0 million | 87,283 | 0.4 million | |||||||||||||||||||||||||||||||||||||||||||||||||||||
August 1, 2018 | September 15, 2018 | September 28, 2018 | 0.095 | 13.2 million | 34,575 | 0.2 million | |||||||||||||||||||||||||||||||||||||||||||||||||||||
November 19, 2018 | December 17, 2018 | December 28, 2018 | 0.095 | 13.0 million | 87,429 | 0.4 million | 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 | 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 | 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 | 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 | November 12, 2019 | December 13, 2019 | December 31, 2019 | 0.095 | 12.9 million | 87,747 | 0.5 million | ||||||||||||||||||||||||||||||||||||||||||||||
January 31, 2020 | January 31, 2020 | March 13, 2020 | March 31, 2020 | 0.095 | 12.9 million | 157,523 | 0.5 million | ||||||||||||||||||||||||||||||||||||||||||||||||||||
April 30, 2020 | April 30, 2020 | June 15, 2020 | June 30, 2020 | 0.095 | 13.0 million | 87,351 | 0.4 million | ||||||||||||||||||||||||||||||||||||||||||||||||||||
July 31, 2020 | July 31, 2020 | September 15, 2020 | September 30, 2020 | 0.105 | 14.3 million | 102,404 | 0.5 million | ||||||||||||||||||||||||||||||||||||||||||||||||||||
November 13, 2020 | November 13, 2020 | December 15, 2020 | December 31, 2020 | 0.11 | 15.0 million | 93,964 | 0.5 million |
Financial Covenant | Description | Target Value | September 30, | |||||||||||||||||
Minimum shareholders' equity | Net assets shall not be less than the | $ | $ | |||||||||||||||||
Asset coverage ratio | Asset coverage ratio shall not be less than the greater of 1.50:1 and the statutory test applicable to us | 1.50:1 | ||||||||||||||||||
Interest coverage ratio | Interest coverage ratio shall not be less than | |||||||||||||||||||
Minimum net worth | Net worth shall not be less than | $ | $ |
December 31, 2019 | September 30, 2019 | December 31, 2020 | September 30, 2020 | |||||||||||||||||||
Assembled Brands Capital LLC | $ | 35,182 | $ | 35,182 | Assembled Brands Capital LLC | $ | 33,326 | $ | 36,079 | |||||||||||||
Connect U.S. Finco LLC | 17,732 | — | ||||||||||||||||||||
P2 Upstream Acquisition Co. | 9,000 | 9,000 | ||||||||||||||||||||
PaySimple, Inc. | 8,702 | 12,250 | ||||||||||||||||||||
Sorrento Therapeutics, Inc. | 7,500 | 7,500 | ||||||||||||||||||||
WPEngine, Inc. | WPEngine, Inc. | 26,348 | 26,348 | |||||||||||||||||||
NuStar Logistics, L.P. | NuStar Logistics, L.P. | 17,911 | 17,911 | |||||||||||||||||||
Athenex, Inc. | Athenex, Inc. | 17,085 | 22,780 | |||||||||||||||||||
FFI Holdings I Corp | FFI Holdings I Corp | 16,529 | 0 | |||||||||||||||||||
Thrasio, LLC | Thrasio, LLC | 11,355 | 0 | |||||||||||||||||||
Jazz Acquisition, Inc. | Jazz Acquisition, Inc. | 10,147 | 0 | |||||||||||||||||||
Gulf Operating, LLC | Gulf Operating, LLC | 10,064 | 0 | |||||||||||||||||||
Latam Airlines Group S.A. | Latam Airlines Group S.A. | 8,177 | 0 | |||||||||||||||||||
MRI Software LLC | MRI Software LLC | 6,473 | 7,239 | |||||||||||||||||||
NeuAG, LLC | NeuAG, LLC | 4,382 | 4,382 | |||||||||||||||||||
Corrona, LLC | 5,494 | — | Corrona, LLC | 3,968 | 5,189 | |||||||||||||||||
Olaplex, Inc. | Olaplex, Inc. | 3,834 | 1,917 | |||||||||||||||||||
Pingora MSR Opportunity Fund I-A, LP | 3,500 | 3,500 | Pingora MSR Opportunity Fund I-A, LP | 3,500 | 3,500 | |||||||||||||||||
Dominion Diagnostics, LLC | Dominion Diagnostics, LLC | 3,449 | 5,887 | |||||||||||||||||||
Mindbody, Inc. | 3,048 | 3,048 | Mindbody, Inc. | 3,048 | 3,048 | |||||||||||||||||
Ardonagh Midco 3 PLC | Ardonagh Midco 3 PLC | 2,506 | 3,007 | |||||||||||||||||||
Accupac, Inc. | Accupac, Inc. | 2,346 | 2,346 | |||||||||||||||||||
Acquia Inc. | 2,240 | — | Acquia Inc. | 2,240 | 2,240 | |||||||||||||||||
New IPT, Inc. | 2,229 | 2,229 | New IPT, Inc. | 2,229 | 2,229 | |||||||||||||||||
4 Over International, LLC | 1,849 | 1,977 | ||||||||||||||||||||
ADB Companies, LLC | ADB Companies, LLC | 1,667 | — | |||||||||||||||||||
Apptio, Inc. | 1,538 | 1,538 | Apptio, Inc. | 1,538 | 1,538 | |||||||||||||||||
Telestream Holdings Corporation | Telestream Holdings Corporation | 1,417 | — | |||||||||||||||||||
Senior Loan Fund JV I, LLC | 1,328 | 1,328 | Senior Loan Fund JV I, LLC | 1,328 | 1,328 | |||||||||||||||||
Ministry Brands, LLC | Ministry Brands, LLC | 1,000 | 425 | |||||||||||||||||||
Coyote Buyer, LLC | Coyote Buyer, LLC | 942 | 942 | |||||||||||||||||||
Immucor, Inc. | Immucor, Inc. | 541 | 541 | |||||||||||||||||||
GKD Index Partners, LLC | GKD Index Partners, LLC | 231 | 231 | |||||||||||||||||||
A.T. Holdings II SÀRL | A.T. Holdings II SÀRL | — | 7,541 | |||||||||||||||||||
iCIMs, Inc. | 882 | 882 | iCIMs, Inc. | — | 882 | |||||||||||||||||
Ministry Brands, LLC | 800 | 800 | ||||||||||||||||||||
GKD Index Partners, LLC | 578 | 1,156 | ||||||||||||||||||||
PLATO Learning Inc. (1) | 107 | 746 | ||||||||||||||||||||
TerSera Therapeutics, LLC | — | 4,200 | ||||||||||||||||||||
Thruline Marketing, Inc. | — | 3,000 | ||||||||||||||||||||
Total | $ | 101,709 | $ | 88,336 | 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, 2019 | Debt Outstanding as of December 31, 2019 | Weighted average debt outstanding for the three months ended December 31, 2019 | Maximum debt outstanding for the three months ended December 31, 2019 | |||||||||||||
Credit Facility | $ | 314,825 | $ | 377,825 | $ | 328,314 | $ | 377,825 | ||||||||
2024 Notes | 75,000 | 75,000 | 75,000 | 75,000 | ||||||||||||
2028 Notes | 86,250 | 86,250 | 86,250 | 86,250 | ||||||||||||
Total debt | $ | 476,075 | $ | 539,075 | $ | 489,564 |
Payments due by period as of December 31, 2019 | 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 | Contractual Obligations | Total | Less than 1 year | 1-3 years | 3-5 years | More than 5 years | |||||||||||||||||||||||||||||||||||||||||
Credit Facility | $ | 377,825 | $ | — | $ | — | $ | 377,825 | $ | — | Credit Facility | $ | 400,025 | $ | — | $ | — | $ | 400,025 | $ | — | |||||||||||||||||||||||||||||||
Interest due on Credit Facility | 59,828 | 14,405 | 28,809 | 16,614 | — | Interest due on Credit Facility | 27,570 | 8,751 | 17,501 | 1,318 | — | |||||||||||||||||||||||||||||||||||||||||
2024 Notes | 75,000 | — | — | 75,000 | — | |||||||||||||||||||||||||||||||||||||||||||||||
Interest due on 2024 Notes | 21,307 | 4,406 | 8,813 | 8,088 | — | |||||||||||||||||||||||||||||||||||||||||||||||
2028 Notes | 86,250 | — | — | — | 86,250 | |||||||||||||||||||||||||||||||||||||||||||||||
Interest due on 2028 Notes | 44,043 | 5,283 | 10,566 | 10,566 | 17,628 | |||||||||||||||||||||||||||||||||||||||||||||||
2025 Notes | 2025 Notes | 300,000 | — | — | 300,000 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Interest due on 2025 Notes | Interest due on 2025 Notes | 43,640 | 10,500 | 21,000 | 12,140 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 664,253 | $ | 24,094 | $ | 48,188 | $ | 488,093 | $ | 103,878 | 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, 2019 | September 30, 2019 | |||||||||||||
($ in thousands) | Fair Value | % of Floating Rate Portfolio | Fair Value | % of Floating Rate Portfolio | ||||||||||
Under 1% | $ | 543,087 | 44.92 | % | $ | 489,464 | 41.64 | % | ||||||
1% to 2% | 665,845 | 55.08 | 685,995 | 58.36 | ||||||||||
Total | $ | 1,208,932 | 100.00 | % | $ | 1,175,459 | 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 | Increase in Interest Income | (Increase) in Interest Expense | Net increase (decrease) in net assets resulting from operations | |||||||||
300 | $ | 37,212 | $ | (11,335 | ) | $ | 25,877 | |||||
200 | 24,774 | (7,557 | ) | 17,217 | ||||||||
100 | 12,337 | (3,778 | ) | 8,559 |
Basis point decrease | (Decrease) in Interest Income | Decrease in Interest Expense | Net increase (decrease) in net assets resulting from operations | |||||||||
100 | $ | (11,223 | ) | $ | 3,778 | $ | (7,445 | ) | ||||
200 (1) | (15,499 | ) | 6,848 | (8,651 | ) |
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, 2019 | September 30, 2019 | |||||||||||||||
($ in thousands) | Interest Bearing Cash and Investments | Borrowings | Interest Bearing Cash and Investments | Borrowings | ||||||||||||
Money market rate | $ | 16,018 | $ | — | $ | 9,611 | $ | — | ||||||||
Prime rate | 383 | — | 48,036 | 14,000 | ||||||||||||
LIBOR | ||||||||||||||||
30 day | 742,322 | 377,825 | 686,880 | 300,825 | ||||||||||||
60 day | 31,713 | — | 9,000 | — | ||||||||||||
90 day | 409,688 | — | 402,603 | — | ||||||||||||
180 day | 16,175 | — | 20,967 | — | ||||||||||||
EURIBOR | ||||||||||||||||
30 day | 19,644 | — | 19,078 | — | ||||||||||||
UK LIBOR | ||||||||||||||||
30 day | 23,846 | — | 22,181 | — | ||||||||||||
Fixed rate | 179,056 | 161,250 | 185,809 | 161,250 | ||||||||||||
Total | $ | 1,438,845 | $ | 539,075 | $ | 1,404,165 | $ | 476,075 |
Agreement and Plan of Merger among Oaktree Strategic Income Corporation, the Registrant, Lion Merger Sub, Inc. and Oaktree Fund Advisors LLC (for the limited purposes set forth therein), dated as of October 28, 2020 (Incorporated by reference to Exhibit 2.1 filed with the Registrant’s Current Report on Form 8-K (File No. 814-00755) filed on October 29, 2020). | ||||||||
Incremental Commitment and Assumption Agreement, dated as of October 28, 2020, made by the Registrant, as Borrower, the assuming lender party hereto, as assuming 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 October 29, 2020). | ||||||||
Amendment No. | ||||||||
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 29, 2020). | ||||||||
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/ Armen Panossian | |||||||
Armen Panossian | ||||||||
Chief Executive Officer | ||||||||
By: | /s/ Mel Carlisle | |||||||
Mel Carlisle | ||||||||
Chief Financial Officer and Treasurer |