Maryland
|
|
47-1893276
|
(State or other jurisdiction of incorporation or organization)
|
|
(I.R.S. Employer Identification No.)
|
Large accelerated filer
o
|
Accelerated filer
o
|
Non-accelerated filer
þ
(Do not check if a smaller reporting company)
|
Smaller reporting company
o
|
Emerging growth company
þ
|
|
Part I. Financial Information
|
|
|
Item 1.
|
Financial Statements
|
|
|
Consolidated Statements of Financial Condition as of March 31, 2018 (unaudited) and September 30, 2017
|
|
|
Consolidated Statements of Operations for the three and six months ended March 31, 2018 (unaudited) and 2017 (unaudited)
|
|
|
Consolidated Statements of Changes in Net Assets for the six months ended March 31, 2018 (unaudited) and 2017 (unaudited)
|
|
|
Consolidated Statements of Cash Flows for the six months ended March 31, 2018 (unaudited) and 2017 (unaudited)
|
|
|
Consolidated Schedules of Investments as of March 31, 2018 (unaudited) and September 30, 2017
|
|
|
Notes to Consolidated Financial Statements (unaudited)
|
|
Item 2.
|
Management's Discussion and Analysis of Financial Condition and Results of Operations
|
|
Item 3.
|
Quantitative and Qualitative Disclosures about Market Risk
|
|
Item 4.
|
Controls and Procedures
|
|
Part II. Other Information
|
|
|
Item 1.
|
Legal Proceedings
|
|
Item 1A.
|
Risk Factors
|
|
Item 2.
|
Unregistered Sales of Equity Securities and Use of Proceeds
|
|
Item 3.
|
Defaults Upon Senior Securities
|
|
Item 4.
|
Mine Safety Disclosures
|
|
Item 5.
|
Other Information
|
|
Item 6.
|
Exhibits
|
|
March 31, 2018
|
|
September 30, 2017
|
||||
|
(unaudited)
|
|
|
||||
Assets
|
|
|
|
|
|
||
Investments, at fair value
|
|
|
|
|
|
||
Non-controlled/non-affiliate company investments
|
$
|
1,511,140
|
|
|
$
|
1,347,597
|
|
Controlled affiliate company investments
|
63,484
|
|
|
50,104
|
|
||
Total investments at fair value (amortized cost of $1,558,180 and $1,386,209, respectively)
|
1,574,624
|
|
|
1,397,701
|
|
||
Cash and cash equivalents
|
8,337
|
|
|
22,859
|
|
||
Foreign currencies (cost of $63 and $0, respectively)
|
63
|
|
|
—
|
|
||
Restricted cash and cash equivalents
|
37,153
|
|
|
28,272
|
|
||
Interest receivable
|
6,307
|
|
|
5,027
|
|
||
Capital call receivable
|
—
|
|
|
1,058
|
|
||
Other assets
|
36
|
|
|
178
|
|
||
Total Assets
|
$
|
1,626,520
|
|
|
$
|
1,455,095
|
|
Liabilities
|
|
|
|
|
|
||
Debt
|
$
|
733,300
|
|
|
$
|
670,200
|
|
Less unamortized debt issuance costs
|
1,847
|
|
|
2,671
|
|
||
Debt less unamortized debt issuance costs
|
731,453
|
|
|
667,529
|
|
||
Interest payable
|
2,586
|
|
|
2,141
|
|
||
Distributions payable
|
14,199
|
|
|
8,239
|
|
||
Management and incentive fees payable
|
9,498
|
|
|
7,536
|
|
||
Payable for investments purchased
|
169
|
|
|
—
|
|
||
Accounts payable and accrued expenses
|
1,291
|
|
|
1,404
|
|
||
Accrued trustee fees
|
29
|
|
|
26
|
|
||
Total Liabilities
|
$
|
759,225
|
|
|
$
|
686,875
|
|
Commitments and Contingencies (Note 8)
|
|
|
|
|
|
||
Net Assets
|
|
|
|
|
|
||
Preferred stock, par value $0.001 per share, 1,000,000 shares authorized, zero shares issued and outstanding as of March 31, 2018 and September 30, 2017
|
—
|
|
|
—
|
|
||
Common stock, par value $0.001 per share, 100,000,000 shares authorized, 57,819,693.450 and 51,214,683.496 shares issued and outstanding as of March 31, 2018 and September 30, 2017, respectively
|
57
|
|
|
51
|
|
||
Paid in capital in excess of par
|
866,977
|
|
|
767,908
|
|
||
Capital distributions in excess of net investment income
|
(15,075
|
)
|
|
(11,366
|
)
|
||
Net unrealized appreciation (depreciation) on investments and foreign currency translation
|
16,444
|
|
|
11,492
|
|
||
Net realized gain (loss) on investments and foreign currency transactions
|
(1,108
|
)
|
|
135
|
|
||
Total Net Assets
|
867,295
|
|
|
768,220
|
|
||
Total Liabilities and Total Net Assets
|
$
|
1,626,520
|
|
|
$
|
1,455,095
|
|
Number of common shares outstanding
|
57,819,693.450
|
|
|
51,214,683.496
|
|
||
Net asset value per common share
|
$
|
15.00
|
|
|
$
|
15.00
|
|
|
Three months ended March 31,
|
|
Six months ended March 31,
|
||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Investment income
|
|
|
|
|
|
|
|
|
|
||||||
From non-controlled/non-affiliate company investments:
|
|
|
|
|
|
|
|
|
|
||||||
Interest income
|
$
|
31,498
|
|
|
$
|
20,813
|
|
|
$
|
60,569
|
|
|
$
|
41,562
|
|
Dividend income
|
75
|
|
|
—
|
|
|
77
|
|
|
1
|
|
||||
Fee income
|
897
|
|
|
65
|
|
|
1,288
|
|
|
211
|
|
||||
Total investment income from non-controlled/non-affiliate company investments
|
32,470
|
|
|
20,878
|
|
|
61,934
|
|
|
41,774
|
|
||||
From controlled affiliate company investments:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Interest income
|
—
|
|
|
—
|
|
|
—
|
|
|
732
|
|
||||
Dividend income
|
1,294
|
|
|
1,242
|
|
|
2,424
|
|
|
1,663
|
|
||||
Total investment income from controlled affiliate company investments
|
1,294
|
|
|
1,242
|
|
|
2,424
|
|
|
2,395
|
|
||||
Total investment income
|
33,764
|
|
|
22,120
|
|
|
64,358
|
|
|
44,169
|
|
||||
Expenses
|
|
|
|
|
|
|
|
|
|
|
|
||||
Interest and other debt financing expenses
|
7,510
|
|
|
5,313
|
|
|
14,389
|
|
|
10,235
|
|
||||
Base management fee
|
5,249
|
|
|
3,881
|
|
|
10,235
|
|
|
7,677
|
|
||||
Incentive fee
|
4,775
|
|
|
2,222
|
|
|
8,811
|
|
|
4,966
|
|
||||
Professional fees
|
450
|
|
|
480
|
|
|
972
|
|
|
922
|
|
||||
Administrative service fee
|
531
|
|
|
343
|
|
|
1,026
|
|
|
705
|
|
||||
General and administrative expenses
|
55
|
|
|
(4
|
)
|
|
108
|
|
|
26
|
|
||||
Total expenses
|
18,570
|
|
|
12,235
|
|
|
35,541
|
|
|
24,531
|
|
||||
Base management fee waived (Note 4)
|
(1,431
|
)
|
|
(1,059
|
)
|
|
(2,791
|
)
|
|
(2,094
|
)
|
||||
Incentive fee waived (Note 4)
|
(1,070
|
)
|
|
—
|
|
|
(1,868
|
)
|
|
(16
|
)
|
||||
Net expenses
|
16,069
|
|
|
11,176
|
|
|
30,882
|
|
|
22,421
|
|
||||
Net investment income
|
17,695
|
|
|
10,944
|
|
|
33,476
|
|
|
21,748
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Net gain (loss) on investments and foreign currency
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net realized gain (loss) on investments and foreign currency transactions
|
|
|
|
|
|
|
|
|
|
|
|
||||
Non-controlled/non-affiliate company investments
|
560
|
|
|
134
|
|
|
111
|
|
|
331
|
|
||||
Foreign currency transactions
|
20
|
|
|
—
|
|
|
(17
|
)
|
|
—
|
|
||||
Net realized gain (loss) on investments and foreign currency transactions
|
580
|
|
|
134
|
|
|
94
|
|
|
331
|
|
||||
Net change in unrealized appreciation (depreciation) on investments and foreign currency translation:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Non-controlled/non-affiliate company investments
|
1,705
|
|
|
1,515
|
|
|
3,472
|
|
|
4,893
|
|
||||
Controlled affiliate company investments
|
736
|
|
|
101
|
|
|
1,480
|
|
|
302
|
|
||||
Translation of assets in foreign currencies
|
(8
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Net change in unrealized appreciation (depreciation) on investments and foreign currency translation
|
2,433
|
|
|
1,616
|
|
|
4,952
|
|
|
5,195
|
|
||||
Net gain (loss) on investments and foreign currency
|
3,013
|
|
|
1,750
|
|
|
5,046
|
|
|
5,526
|
|
||||
Net increase in net assets resulting from operations
|
$
|
20,708
|
|
|
$
|
12,694
|
|
|
$
|
38,522
|
|
|
$
|
27,274
|
|
Per Common Share Data
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic and diluted earnings per common share
|
$
|
0.37
|
|
|
$
|
0.30
|
|
|
$
|
0.71
|
|
|
$
|
0.65
|
|
Basic and diluted weighted average common shares outstanding
|
55,957,341
|
|
|
41,892,513
|
|
|
54,003,357
|
|
|
41,569,032
|
|
|
|
|
|
|
|
|
Capital Distributions in Excess of Net Investment Income
|
|
Net Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translation
|
|
Net Realized Gain (loss) on Investments and Foreign Currency Transactions
|
|
|
|||||||||||||
|
Common Stock
|
|
Paid in Capital in Excess of Par
|
|
|
|
|
Total Net Assets
|
||||||||||||||||||
|
Shares
|
|
Par Amount
|
|
|
|
|
|
||||||||||||||||||
Balance at September 30, 2016
|
41,087,178.250
|
|
|
$
|
41
|
|
|
$
|
616,018
|
|
|
$
|
(7,158
|
)
|
|
$
|
8,334
|
|
|
$
|
(928
|
)
|
|
$
|
616,307
|
|
Net increase in net assets resulting from operations
|
—
|
|
|
—
|
|
|
—
|
|
|
21,748
|
|
|
5,195
|
|
|
331
|
|
|
27,274
|
|
||||||
Distributions to stockholders:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Stock issued in connection with dividend reinvestment plan
|
1,017,819.236
|
|
|
1
|
|
|
15,267
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
15,268
|
|
||||||
Distributions from net investment income
|
—
|
|
|
—
|
|
|
—
|
|
|
(18,209
|
)
|
|
—
|
|
|
—
|
|
|
(18,209
|
)
|
||||||
Distributions from net realized gain
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(140
|
)
|
|
(140
|
)
|
||||||
Distributions declared and payable
|
—
|
|
|
—
|
|
|
—
|
|
|
(8,925
|
)
|
|
—
|
|
|
—
|
|
|
(8,925
|
)
|
||||||
Total increase (decrease) for the period ended March 31, 2017
|
1,017,819.236
|
|
|
1
|
|
|
15,267
|
|
|
(5,386
|
)
|
|
5,195
|
|
|
191
|
|
|
15,268
|
|
||||||
Balance at March 31, 2017
|
42,104,997.486
|
|
|
$
|
42
|
|
|
$
|
631,285
|
|
|
$
|
(12,544
|
)
|
|
$
|
13,529
|
|
|
$
|
(737
|
)
|
|
$
|
631,575
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Balance at September 30, 2017
|
51,214,683.496
|
|
|
$
|
51
|
|
|
$
|
767,908
|
|
|
$
|
(11,366
|
)
|
|
$
|
11,492
|
|
|
$
|
135
|
|
|
$
|
768,220
|
|
Issuance of common stock
(1)
|
5,449,408.053
|
|
|
5
|
|
|
81,736
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
81,741
|
|
||||||
Net increase in net assets resulting from operations
|
—
|
|
|
—
|
|
|
—
|
|
|
33,476
|
|
|
4,952
|
|
|
94
|
|
|
38,522
|
|
||||||
Distributions to stockholders:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Stock issued in connection with dividend reinvestment plan
|
1,155,601.901
|
|
|
1
|
|
|
17,333
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
17,334
|
|
||||||
Distributions from net investment income
|
—
|
|
|
—
|
|
|
—
|
|
|
(22,986
|
)
|
|
—
|
|
|
—
|
|
|
(22,986
|
)
|
||||||
Distributions from net realized gain
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1,337
|
)
|
|
(1,337
|
)
|
||||||
Distributions declared and payable
|
—
|
|
|
—
|
|
|
—
|
|
|
(14,199
|
)
|
|
—
|
|
|
—
|
|
|
(14,199
|
)
|
||||||
Total increase (decrease) for the period ended March 31, 2018
|
6,605,009.954
|
|
|
6
|
|
|
99,069
|
|
|
(3,709
|
)
|
|
4,952
|
|
|
(1,243
|
)
|
|
99,075
|
|
||||||
Balance at March 31, 2018
|
57,819,693.450
|
|
|
$
|
57
|
|
|
$
|
866,977
|
|
|
$
|
(15,075
|
)
|
|
$
|
16,444
|
|
|
$
|
(1,108
|
)
|
|
$
|
867,295
|
|
|
(1)
|
Refer to Note 3 for a detailed listing of the common stock issuances for the
six months ended March 31, 2018
.
|
|
Six months ended March 31,
|
||||||
|
2018
|
|
2017
|
||||
Cash flows from operating activities
|
|
|
|
|
|||
Net increase in net assets resulting from operations
|
$
|
38,522
|
|
|
$
|
27,274
|
|
Adjustments to reconcile net increase in net assets resulting from operations
to net cash (used in) provided by operating activities |
|
|
|
|
|||
Amortization of deferred debt issuance costs
|
1,084
|
|
|
1,781
|
|
||
Accretion of discounts and amortization of premiums
|
(4,171
|
)
|
|
(2,379
|
)
|
||
Net realized (gain) loss on investments
|
(111
|
)
|
|
(331
|
)
|
||
Net change in unrealized (appreciation) depreciation on investments
|
(4,952
|
)
|
|
(5,195
|
)
|
||
Proceeds from (fundings of) revolving loans, net
|
774
|
|
|
(829
|
)
|
||
Fundings of investments
|
(359,432
|
)
|
|
(185,130
|
)
|
||
Proceeds from principal payments and sales of portfolio investments
|
191,888
|
|
|
96,814
|
|
||
PIK interest
|
(919
|
)
|
|
(565
|
)
|
||
Changes in operating assets and liabilities:
|
|
|
|
||||
Interest receivable
|
(1,280
|
)
|
|
(602
|
)
|
||
Other assets
|
142
|
|
|
(21
|
)
|
||
Interest payable
|
445
|
|
|
407
|
|
||
Management and incentive fees payable
|
1,962
|
|
|
1,307
|
|
||
Payable for investments purchased
|
169
|
|
|
190
|
|
||
Accounts payable and accrued expenses
|
(113
|
)
|
|
69
|
|
||
Accrued trustee fees
|
3
|
|
|
10
|
|
||
Net cash (used in) provided by operating activities
|
(135,989
|
)
|
|
(67,200
|
)
|
||
Cash flows from financing activities
|
|
|
|
|
|||
Borrowings on debt
|
260,850
|
|
|
187,750
|
|
||
Repayments of debt
|
(197,750
|
)
|
|
(136,450
|
)
|
||
Capitalized debt issuance costs
|
(260
|
)
|
|
(38
|
)
|
||
Capital calls received in advance
|
—
|
|
|
5,963
|
|
||
Proceeds from issuance of common shares
|
82,799
|
|
|
—
|
|
||
Distributions paid
|
(15,228
|
)
|
|
(12,950
|
)
|
||
Net cash provided by (used in) financing activities
|
130,411
|
|
|
44,275
|
|
||
Net change in cash, cash equivalents, foreign currencies and restricted cash and cash equivalents
|
(5,578
|
)
|
|
(22,925
|
)
|
||
Cash, cash equivalents, foreign currencies and restricted cash and cash equivalents, beginning of period
|
51,131
|
|
|
75,731
|
|
||
Cash, cash equivalents, foreign currencies and restricted cash and cash equivalents, end of period
|
$
|
45,553
|
|
|
$
|
52,806
|
|
Supplemental information:
|
|
|
|
|
|||
Cash paid during the period for interest
|
$
|
12,860
|
|
|
$
|
8,047
|
|
Distributions declared during the period
|
38,522
|
|
|
27,274
|
|
||
Supplemental disclosure of noncash operating activity:
|
|
|
|
||||
Funding of LLC equity interest in GCIC SLF
|
$
|
—
|
|
|
$
|
(34,917
|
)
|
Proceeds from subordinated notes in GCIC SLF principal payment
|
—
|
|
|
34,917
|
|
||
Supplemental disclosure of noncash financing activity:
|
|
|
|
||||
Capital call receivable
|
$
|
(1,058
|
)
|
|
$
|
—
|
|
Distributions payable
|
14,199
|
|
|
8,925
|
|
|
As of March 31,
|
||||||
|
2018
|
|
2017
|
||||
Cash and cash equivalents
|
$
|
8,337
|
|
|
$
|
15,164
|
|
Foreign currencies
|
63
|
|
|
—
|
|
||
Restricted cash and cash equivalents
|
37,153
|
|
|
37,642
|
|
||
Total cash, cash equivalents, foreign currencies and restricted cash and cash equivalents shown in the Consolidated Statements of Cash Flows
|
$
|
45,553
|
|
|
$
|
52,806
|
|
|
Investment
Type
|
|
Spread
Above
Index
(1)
|
|
Interest
Rate
(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares (3) |
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value
(4)
|
||||||||
Investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Non-controlled/non-affiliate company investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Debt investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Aerospace and Defense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
ILC Dover, LP
#
|
Senior loan
|
|
L + 4.75%
|
(a)(d)
|
|
6.58%
|
|
12/2023
|
|
$
|
1,334
|
|
|
$
|
1,321
|
|
|
0.1
|
|
%
|
$
|
1,320
|
|
NTS Technical Systems
*
|
One stop
|
|
L + 6.25%
|
(a)
|
|
7.91%
|
|
06/2021
|
|
3,250
|
|
|
3,211
|
|
|
0.4
|
|
|
3,250
|
|
|||
NTS Technical Systems
(5)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(6)
|
|
06/2021
|
|
—
|
|
|
(9
|
)
|
|
—
|
|
|
—
|
|
|||
NTS Technical Systems
(5)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(6)
|
|
06/2021
|
|
—
|
|
|
(13
|
)
|
|
—
|
|
|
—
|
|
|||
Tresys Technology Holdings, Inc.
(7)
|
One stop
|
|
L + 6.75%
|
(a)
|
|
8.64%
|
|
12/2018
|
|
53
|
|
|
28
|
|
|
—
|
|
|
16
|
|
|||
Tresys Technology Holdings, Inc.
(7)
|
One stop
|
|
L + 6.75%
|
(a)
|
|
8.64%
|
|
12/2018
|
|
9
|
|
|
9
|
|
|
—
|
|
|
9
|
|
|||
Tronair Parent, Inc.
#
|
Senior loan
|
|
L + 4.75%
|
(c)(e)
|
|
6.56%
|
|
09/2023
|
|
368
|
|
|
365
|
|
|
—
|
|
|
368
|
|
|||
Tronair Parent, Inc.
|
Senior loan
|
|
L + 4.50%
|
(c)(e)
|
|
7.24%
|
|
09/2021
|
|
62
|
|
|
61
|
|
|
—
|
|
|
62
|
|
|||
Whitcraft LLC
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.56%
|
|
04/2023
|
|
16,226
|
|
|
16,022
|
|
|
1.9
|
|
|
16,226
|
|
|||
Whitcraft LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.56%
|
|
04/2023
|
|
4,166
|
|
|
4,131
|
|
|
0.5
|
|
|
4,166
|
|
|||
Whitcraft LLC
(5)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(6)
|
|
04/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Whitcraft LLC
(5)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(6)
|
|
04/2023
|
|
—
|
|
|
(59
|
)
|
|
—
|
|
|
—
|
|
|||
|
|
|
|
|
|
|
|
|
|
25,468
|
|
|
25,066
|
|
|
2.9
|
|
|
25,417
|
|
|||
Automobile
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Dent Wizard International Corporation
*
|
Senior loan
|
|
L + 4.00%
|
(a)
|
|
5.88%
|
|
04/2020
|
|
2,172
|
|
|
2,162
|
|
|
0.3
|
|
|
2,172
|
|
|||
Grease Monkey International, LLC
*
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.89%
|
|
11/2022
|
|
3,066
|
|
|
3,031
|
|
|
0.4
|
|
|
3,066
|
|
|||
Grease Monkey International, LLC
|
Senior loan
|
|
P + 4.00%
|
(a)(e)
|
|
8.15%
|
|
11/2022
|
|
32
|
|
|
31
|
|
|
—
|
|
|
32
|
|
|||
Grease Monkey International, LLC
(5)
|
Senior loan
|
|
L + 5.00%
|
|
|
N/A
(6)
|
|
11/2022
|
|
—
|
|
|
(20
|
)
|
|
—
|
|
|
—
|
|
|||
Polk Acquisition Corp.
*
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.89%
|
|
06/2022
|
|
4,780
|
|
|
4,763
|
|
|
0.5
|
|
|
4,684
|
|
|||
T5 Merger Corporation
#*
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.16%
|
|
03/2022
|
|
29,907
|
|
|
29,491
|
|
|
3.4
|
|
|
29,309
|
|
|||
T5 Merger Corporation
#
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.16%
|
|
03/2022
|
|
3,488
|
|
|
3,460
|
|
|
0.4
|
|
|
3,418
|
|
|||
T5 Merger Corporation
*
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.16%
|
|
03/2022
|
|
1,099
|
|
|
1,090
|
|
|
0.1
|
|
|
1,077
|
|
|||
T5 Merger Corporation
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.32%
|
|
03/2022
|
|
98
|
|
|
96
|
|
|
—
|
|
|
95
|
|
|||
|
|
|
|
|
|
|
|
|
|
44,642
|
|
|
44,104
|
|
|
5.1
|
|
|
43,853
|
|
|||
Beverage, Food and Tobacco
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Abita Brewing Co., L.L.C.
#
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.64%
|
|
04/2021
|
|
3,598
|
|
|
3,573
|
|
|
0.4
|
|
|
3,598
|
|
|||
Abita Brewing Co., L.L.C.
(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A
(6)
|
|
04/2021
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Benihana, Inc.
#*
|
One stop
|
|
L + 7.00%
|
(c)(e)
|
|
9.13%
|
|
01/2019
|
|
318
|
|
|
317
|
|
|
0.1
|
|
|
318
|
|
|||
Benihana, Inc.
|
One stop
|
|
L + 7.00%
|
(a)(e)
|
|
9.49%
|
|
07/2018
|
|
34
|
|
|
34
|
|
|
—
|
|
|
34
|
|
|||
C. J. Foods, Inc.
#*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.02%
|
|
05/2020
|
|
20,998
|
|
|
20,844
|
|
|
2.4
|
|
|
20,788
|
|
|||
C. J. Foods, Inc.
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.02%
|
|
05/2019
|
|
1,589
|
|
|
1,586
|
|
|
0.2
|
|
|
1,573
|
|
|||
C. J. Foods, Inc.
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.05%
|
|
05/2019
|
|
210
|
|
|
208
|
|
|
—
|
|
|
194
|
|
|||
Cafe Rio Holding, Inc.
#
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.64%
|
|
09/2023
|
|
8,667
|
|
|
8,529
|
|
|
1.0
|
|
|
8,667
|
|
|||
Cafe Rio Holding, Inc.
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.52%
|
|
09/2023
|
|
691
|
|
|
613
|
|
|
0.1
|
|
|
691
|
|
|||
Cafe Rio Holding, Inc.
|
One stop
|
|
P + 4.75%
|
(e)
|
|
9.50%
|
|
09/2023
|
|
35
|
|
|
33
|
|
|
—
|
|
|
35
|
|
|||
Firebirds International, LLC
*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.42%
|
|
12/2018
|
|
3,279
|
|
|
3,275
|
|
|
0.4
|
|
|
3,279
|
|
|||
Firebirds International, LLC
*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.42%
|
|
12/2018
|
|
921
|
|
|
920
|
|
|
0.1
|
|
|
921
|
|
|||
Firebirds International, LLC
*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.42%
|
|
12/2018
|
|
296
|
|
|
296
|
|
|
—
|
|
|
296
|
|
|||
Firebirds International, LLC
(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A
(6)
|
|
12/2018
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Firebirds International, LLC
(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A
(6)
|
|
12/2018
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
|||
Flavor Producers, LLC
#
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.71%
|
|
12/2023
|
|
2,737
|
|
|
2,698
|
|
|
0.3
|
|
|
2,737
|
|
|||
Flavor Producers, LLC
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.71%
|
|
12/2022
|
|
4
|
|
|
3
|
|
|
—
|
|
|
4
|
|
|||
FWR Holding Corporation
*
|
One stop
|
|
L + 6.00%
|
(d)
|
|
7.66%
|
|
08/2023
|
|
4,069
|
|
|
4,014
|
|
|
0.5
|
|
|
4,069
|
|
|||
FWR Holding Corporation
|
One stop
|
|
L + 6.00%
|
(b)(c)
|
|
7.62%
|
|
08/2023
|
|
1,116
|
|
|
1,078
|
|
|
0.1
|
|
|
1,116
|
|
|||
FWR Holding Corporation
|
One stop
|
|
P + 5.00%
|
(c)(e)
|
|
9.24%
|
|
08/2023
|
|
30
|
|
|
29
|
|
|
—
|
|
|
30
|
|
|||
Global Franchise Group, LLC
*
|
Senior loan
|
|
L + 5.75%
|
(c)
|
|
8.05%
|
|
12/2019
|
|
4,298
|
|
|
4,266
|
|
|
0.5
|
|
|
4,298
|
|
|||
Global Franchise Group, LLC
|
Senior loan
|
|
L + 5.75%
|
|
|
N/A
(6)
|
|
12/2019
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Global ID Corporation
#
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.68%
|
|
11/2021
|
|
5,128
|
|
|
5,081
|
|
|
0.6
|
|
|
5,128
|
|
|||
Global ID Corporation
|
One stop
|
|
L + 6.50%
|
|
|
N/A
(6)
|
|
11/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Global ID Corporation
(5)
|
One stop
|
|
L + 6.50%
|
|
|
N/A
(6)
|
|
11/2021
|
|
—
|
|
|
(18
|
)
|
|
—
|
|
|
—
|
|
|
Investment
Type
|
|
Spread
Above
Index
(1)
|
|
Interest
Rate
(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares (3) |
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value
(4)
|
||||||||
Beverage, Food and Tobacco - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Hopdoddy Holdings, LLC
|
One stop
|
|
L + 8.00%
|
(c)
|
|
9.98%
|
|
08/2020
|
|
$
|
848
|
|
|
$
|
845
|
|
|
0.1
|
|
%
|
$
|
848
|
|
Hopdoddy Holdings, LLC
|
One stop
|
|
L + 8.00%
|
(c)
|
|
10.01%
|
|
08/2020
|
|
2
|
|
|
2
|
|
|
—
|
|
|
2
|
|
|||
Hopdoddy Holdings, LLC
(5)
|
One stop
|
|
L + 8.00%
|
|
|
N/A
(6)
|
|
08/2020
|
|
—
|
|
|
(9
|
)
|
|
—
|
|
|
(10
|
)
|
|||
Mid-America Pet Food, L.L.C.
#*
|
One stop
|
|
L + 6.00%
|
(b)
|
|
8.00%
|
|
12/2021
|
|
12,247
|
|
|
12,131
|
|
|
1.4
|
|
|
12,154
|
|
|||
Mid-America Pet Food, L.L.C.
(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(6)
|
|
12/2021
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(1
|
)
|
|||
Purfoods, LLC
#*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.98%
|
|
05/2021
|
|
7,926
|
|
|
7,852
|
|
|
0.9
|
|
|
7,926
|
|
|||
Purfoods, LLC
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.87%
|
|
05/2021
|
|
358
|
|
|
354
|
|
|
0.1
|
|
|
354
|
|
|||
Purfoods, LLC
|
One stop
|
|
N/A
|
|
|
7.00% PIK
|
|
05/2026
|
|
101
|
|
|
101
|
|
|
—
|
|
|
108
|
|
|||
Purfoods, LLC
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.79%
|
|
05/2021
|
|
40
|
|
|
39
|
|
|
—
|
|
|
40
|
|
|||
Purfoods, LLC
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.31%
|
|
05/2021
|
|
24
|
|
|
24
|
|
|
—
|
|
|
24
|
|
|||
Purfoods, LLC
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.31%
|
|
05/2021
|
|
15
|
|
|
15
|
|
|
—
|
|
|
15
|
|
|||
Purfoods, LLC
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.31%
|
|
05/2021
|
|
15
|
|
|
15
|
|
|
—
|
|
|
15
|
|
|||
Purfoods, LLC
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.31%
|
|
05/2021
|
|
14
|
|
|
14
|
|
|
—
|
|
|
14
|
|
|||
Purfoods, LLC
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.31%
|
|
05/2021
|
|
11
|
|
|
11
|
|
|
—
|
|
|
11
|
|
|||
Purfoods, LLC
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.31%
|
|
05/2021
|
|
11
|
|
|
11
|
|
|
—
|
|
|
11
|
|
|||
Purfoods, LLC
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.31%
|
|
05/2021
|
|
10
|
|
|
10
|
|
|
—
|
|
|
10
|
|
|||
Purfoods, LLC
(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(6)
|
|
05/2021
|
|
—
|
|
|
(13
|
)
|
|
—
|
|
|
(14
|
)
|
|||
Rubio's Restaurants, Inc.
*
|
Senior loan
|
|
L + 5.25%
|
(c)
|
|
7.56%
|
|
10/2019
|
|
297
|
|
|
278
|
|
|
—
|
|
|
297
|
|
|||
Smashburger Finance LLC
*
|
Senior loan
|
|
L + 5.50%
|
(c)
|
|
7.50%
|
|
05/2018
|
|
476
|
|
|
476
|
|
|
0.1
|
|
|
476
|
|
|||
Smashburger Finance LLC
(5)
|
Senior loan
|
|
L + 5.50%
|
|
|
N/A
(6)
|
|
05/2018
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Tate's Bake Shop, Inc.
#*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.56%
|
|
08/2019
|
|
1,037
|
|
|
1,025
|
|
|
0.1
|
|
|
1,037
|
|
|||
Uinta Brewing Company
#
|
One stop
|
|
L + 8.50%
|
(a)
|
|
10.39%
|
|
08/2019
|
|
898
|
|
|
898
|
|
|
0.1
|
|
|
898
|
|
|||
Uinta Brewing Company
|
One stop
|
|
L + 8.50%
|
(a)
|
|
10.39%
|
|
08/2019
|
|
167
|
|
|
167
|
|
|
—
|
|
|
167
|
|
|||
|
|
|
|
|
|
|
|
|
|
82,515
|
|
|
81,619
|
|
|
9.5
|
|
|
82,158
|
|
|||
Broadcasting and Entertainment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
TouchTunes Interactive Networks, Inc.
*
|
Senior loan
|
|
L + 4.75%
|
(a)
|
|
6.63%
|
|
05/2021
|
|
687
|
|
|
685
|
|
|
0.1
|
|
|
693
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Buildings and Real Estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Brooks Equipment Company, LLC
*
|
One stop
|
|
L + 5.00%
|
(c)
|
|
6.99%
|
|
08/2020
|
|
5,735
|
|
|
5,735
|
|
|
0.7
|
|
|
5,735
|
|
|||
Brooks Equipment Company, LLC
*
|
One stop
|
|
L + 5.00%
|
(c)
|
|
6.97%
|
|
08/2020
|
|
1,337
|
|
|
1,330
|
|
|
0.1
|
|
|
1,337
|
|
|||
Brooks Equipment Company, LLC
|
One stop
|
|
L + 5.00%
|
|
|
N/A
(6)
|
|
08/2020
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Jensen Hughes, Inc.
#
|
Senior loan
|
|
L + 4.50%
|
(b)
|
|
6.46%
|
|
03/2024
|
|
430
|
|
|
428
|
|
|
—
|
|
|
428
|
|
|||
Jensen Hughes, Inc.
#
|
Senior loan
|
|
L + 4.50%
|
(c)
|
|
6.27%
|
|
03/2024
|
|
131
|
|
|
130
|
|
|
—
|
|
|
131
|
|
|||
Jensen Hughes, Inc.
(5)
|
Senior loan
|
|
L + 4.50%
|
|
|
N/A
(6)
|
|
03/2024
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
(2
|
)
|
|||
MRI Software LLC
#*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.56%
|
|
06/2023
|
|
18,735
|
|
|
18,447
|
|
|
2.2
|
|
|
18,735
|
|
|||
MRI Software LLC
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.56%
|
|
06/2023
|
|
17,348
|
|
|
17,190
|
|
|
2.0
|
|
|
17,348
|
|
|||
MRI Software LLC
*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.36%
|
|
06/2023
|
|
3,115
|
|
|
3,101
|
|
|
0.4
|
|
|
3,115
|
|
|||
MRI Software LLC
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.56%
|
|
06/2023
|
|
347
|
|
|
344
|
|
|
—
|
|
|
347
|
|
|||
MRI Software LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.28%
|
|
06/2023
|
|
25
|
|
|
22
|
|
|
—
|
|
|
25
|
|
|||
MRI Software LLC
(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(6)
|
|
06/2023
|
|
—
|
|
|
(137
|
)
|
|
—
|
|
|
—
|
|
|||
Paradigm DKD Group, LLC
#
|
Senior loan
|
|
L + 6.25%
|
(d)
|
|
8.09%
|
|
11/2018
|
|
2,126
|
|
|
2,119
|
|
|
0.2
|
|
|
1,701
|
|
|||
Paradigm DKD Group, LLC
|
Senior loan
|
|
L + 6.25%
|
(d)(e)
|
|
8.38%
|
|
11/2018
|
|
779
|
|
|
776
|
|
|
0.1
|
|
|
650
|
|
|||
|
|
|
|
|
|
|
|
|
|
50,108
|
|
|
49,483
|
|
|
5.7
|
|
|
49,550
|
|
|||
Chemicals, Plastics and Rubber
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Flexan, LLC
*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
8.06%
|
|
02/2020
|
|
1,036
|
|
|
1,030
|
|
|
0.1
|
|
|
1,036
|
|
|||
Flexan, LLC
|
One stop
|
|
P + 4.50%
|
(e)
|
|
9.25%
|
|
02/2020
|
|
17
|
|
|
17
|
|
|
—
|
|
|
17
|
|
|||
|
|
|
|
|
|
|
|
|
|
1,053
|
|
|
1,047
|
|
|
0.1
|
|
|
1,053
|
|
|||
Diversified/Conglomerate Manufacturing
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Chase Industries, Inc.
#*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.44%
|
|
09/2020
|
|
13,643
|
|
|
13,586
|
|
|
1.6
|
|
|
13,643
|
|
|||
Chase Industries, Inc.
*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.44%
|
|
09/2020
|
|
1,533
|
|
|
1,533
|
|
|
0.2
|
|
|
1,533
|
|
|||
Chase Industries, Inc.
|
One stop
|
|
L + 5.75%
|
(c)(e)
|
|
7.82%
|
|
09/2020
|
|
383
|
|
|
383
|
|
|
0.1
|
|
|
383
|
|
|||
Inventus Power, Inc.
#
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.39%
|
|
04/2020
|
|
10,104
|
|
|
10,057
|
|
|
1.0
|
|
|
8,589
|
|
|||
Inventus Power, Inc.
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.39%
|
|
04/2020
|
|
312
|
|
|
309
|
|
|
—
|
|
|
254
|
|
|||
Onicon Incorporated
*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.30%
|
|
04/2020
|
|
172
|
|
|
171
|
|
|
—
|
|
|
172
|
|
|||
Onicon Incorporated
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(6)
|
|
04/2020
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
Investment
Type
|
|
Spread
Above
Index
(1)
|
|
Interest
Rate
(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares (3) |
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value
(4)
|
||||||||
Diversified/Conglomerate Manufacturing - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
PetroChoice Holdings, Inc.
*
|
Senior loan
|
|
L + 5.00%
|
(b)
|
|
6.79%
|
|
08/2022
|
|
$
|
1,620
|
|
|
$
|
1,586
|
|
|
0.2
|
|
%
|
$
|
1,620
|
|
Reladyne, Inc.
#*
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.66%
|
|
07/2022
|
|
10,752
|
|
|
10,651
|
|
|
1.2
|
|
|
10,752
|
|
|||
Reladyne, Inc.
|
Senior loan
|
|
L + 5.00%
|
(a)(c)
|
|
6.81%
|
|
07/2022
|
|
1,123
|
|
|
1,109
|
|
|
0.1
|
|
|
1,123
|
|
|||
Reladyne, Inc.
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.86%
|
|
07/2022
|
|
35
|
|
|
5
|
|
|
—
|
|
|
35
|
|
|||
Sunless Merger Sub, Inc.
#
|
Senior loan
|
|
L + 5.00%
|
(a)(e)
|
|
6.89%
|
|
07/2019
|
|
283
|
|
|
262
|
|
|
—
|
|
|
283
|
|
|||
Sunless Merger Sub, Inc.
|
Senior loan
|
|
P + 3.75%
|
(e)
|
|
8.50%
|
|
07/2019
|
|
77
|
|
|
75
|
|
|
—
|
|
|
77
|
|
|||
Togetherwork Holdings, LLC
#
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.24%
|
|
03/2025
|
|
6,759
|
|
|
6,658
|
|
|
0.8
|
|
|
6,691
|
|
|||
Togetherwork Holdings, LLC
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.28%
|
|
03/2024
|
|
40
|
|
|
38
|
|
|
—
|
|
|
39
|
|
|||
Togetherwork Holdings, LLC
(5)
|
One stop
|
|
L + 6.50%
|
|
|
N/A
(6)
|
|
03/2025
|
|
—
|
|
|
(73
|
)
|
|
—
|
|
|
(49
|
)
|
|||
|
|
|
|
|
|
|
|
|
|
46,836
|
|
|
46,350
|
|
|
5.2
|
|
|
45,145
|
|
|||
Diversified/Conglomerate Service
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Accela, Inc.
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.56%
|
|
09/2023
|
|
7,364
|
|
|
7,263
|
|
|
0.9
|
|
|
7,364
|
|
|||
Accela, Inc.
(5)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(6)
|
|
09/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Agility Recovery Solutions Inc.
*
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.27%
|
|
03/2020
|
|
6,185
|
|
|
6,149
|
|
|
0.7
|
|
|
6,185
|
|
|||
Agility Recovery Solutions Inc.
(5)
|
One stop
|
|
L + 6.50%
|
|
|
N/A
(6)
|
|
03/2020
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
|||
Anaqua, Inc.
#
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.24%
|
|
07/2022
|
|
8,895
|
|
|
8,780
|
|
|
1.0
|
|
|
8,895
|
|
|||
Anaqua, Inc.
(5)
|
One stop
|
|
L + 6.50%
|
|
|
N/A
(6)
|
|
07/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Apttus Corporation
|
One stop
|
|
L + 7.85%
|
|
|
10.06%
|
|
01/2023
|
|
6,843
|
|
|
6,584
|
|
|
0.8
|
|
|
6,574
|
|
|||
Bazaarvoice, Inc.
#
|
One stop
|
|
L + 8.00%
|
(c)
|
|
9.77%
|
|
02/2024
|
|
10,949
|
|
|
10,736
|
|
|
1.2
|
|
|
10,730
|
|
|||
Bazaarvoice, Inc.
(5)
|
One stop
|
|
L + 8.00%
|
|
|
N/A
(6)
|
|
02/2024
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
(2
|
)
|
|||
Bomgar Corporation
#*
|
One stop
|
|
L + 7.50%
|
(a)
|
|
9.39%
|
|
06/2022
|
|
28,210
|
|
|
27,809
|
|
|
3.3
|
|
|
28,210
|
|
|||
Bomgar Corporation
#*
|
One stop
|
|
L + 7.00%
|
(a)
|
|
8.89%
|
|
06/2022
|
|
13,971
|
|
|
13,837
|
|
|
1.6
|
|
|
13,971
|
|
|||
Bomgar Corporation
(5)
|
One stop
|
|
L + 7.50%
|
|
|
N/A
(6)
|
|
06/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Browz LLC
|
One stop
|
|
L + 9.50%
|
(a)
|
|
9.67% cash/1.50% PIK
|
|
03/2023
|
|
1,827
|
|
|
1,805
|
|
|
0.2
|
|
|
1,809
|
|
|||
Browz LLC
|
One stop
|
|
L + 9.50%
|
|
|
N/A
(6)
|
|
03/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Clearwater Analytics, LLC
#*
|
One stop
|
|
L + 5.00%
|
(a)
|
|
6.88%
|
|
09/2022
|
|
8,327
|
|
|
8,112
|
|
|
1.0
|
|
|
8,327
|
|
|||
Clearwater Analytics, LLC
|
One stop
|
|
L + 5.00%
|
(a)
|
|
6.87%
|
|
09/2022
|
|
18
|
|
|
15
|
|
|
—
|
|
|
18
|
|
|||
Confluence Technologies, Inc.
|
One stop
|
|
L + 7.50%
|
(c)
|
|
9.59%
|
|
03/2024
|
|
8,637
|
|
|
8,530
|
|
|
1.0
|
|
|
8,551
|
|
|||
Confluence Technologies, Inc.
|
One stop
|
|
L + 7.50%
|
(c)
|
|
9.59%
|
|
03/2024
|
|
21
|
|
|
20
|
|
|
—
|
|
|
20
|
|
|||
Connexin Software, Inc.
|
One stop
|
|
L + 8.50%
|
(b)
|
|
10.50%
|
|
02/2024
|
|
2,920
|
|
|
2,877
|
|
|
0.3
|
|
|
2,883
|
|
|||
Connexin Software, Inc.
|
One stop
|
|
L + 8.50%
|
|
|
N/A
(6)
|
|
02/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Datto, Inc.
|
One stop
|
|
L + 8.00%
|
(a)
|
|
9.72%
|
|
12/2022
|
|
14,093
|
|
|
13,829
|
|
|
1.6
|
|
|
14,093
|
|
|||
Datto, Inc.
(5)
|
One stop
|
|
L + 8.00%
|
|
|
N/A
(6)
|
|
12/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Daxko Acquisition Corporation
#*
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.39%
|
|
09/2022
|
|
11,211
|
|
|
11,076
|
|
|
1.3
|
|
|
11,100
|
|
|||
Daxko Acquisition Corporation
|
One stop
|
|
P + 5.50%
|
(e)
|
|
10.25%
|
|
09/2022
|
|
5
|
|
|
5
|
|
|
—
|
|
|
5
|
|
|||
DISA Holdings Acquisition Subsidiary Corp.
*
|
Senior loan
|
|
L + 4.25%
|
(a)
|
|
5.91%
|
|
12/2020
|
|
1,324
|
|
|
1,317
|
|
|
0.2
|
|
|
1,324
|
|
|||
DISA Holdings Acquisition Subsidiary Corp.
#
|
Senior loan
|
|
L + 4.25%
|
(a)
|
|
5.91%
|
|
12/2020
|
|
129
|
|
|
128
|
|
|
—
|
|
|
129
|
|
|||
DISA Holdings Acquisition Subsidiary Corp.
|
Senior loan
|
|
L + 4.25%
|
(a)
|
|
5.91%
|
|
12/2020
|
|
80
|
|
|
78
|
|
|
—
|
|
|
80
|
|
|||
EGD Security Systems, LLC
#*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.34%
|
|
06/2022
|
|
10,371
|
|
|
10,281
|
|
|
1.2
|
|
|
10,371
|
|
|||
EGD Security Systems, LLC
*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.23%
|
|
06/2022
|
|
98
|
|
|
97
|
|
|
—
|
|
|
98
|
|
|||
EGD Security Systems, LLC
|
One stop
|
|
L + 6.25%
|
(d)
|
|
8.25%
|
|
06/2022
|
|
52
|
|
|
51
|
|
|
—
|
|
|
52
|
|
|||
EGD Security Systems, LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.32%
|
|
06/2022
|
|
30
|
|
|
29
|
|
|
—
|
|
|
30
|
|
|||
HealthcareSource HR, Inc.
#*
|
One stop
|
|
L + 6.75%
|
(c)
|
|
9.06%
|
|
05/2020
|
|
11,116
|
|
|
11,023
|
|
|
1.3
|
|
|
11,116
|
|
|||
HealthcareSource HR, Inc.
(5)
|
One stop
|
|
L + 6.75%
|
|
|
N/A
(6)
|
|
05/2020
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Host Analytics, Inc.
|
One stop
|
|
N/A
|
|
|
8.50% cash/2.25% PIK
|
|
08/2021
|
|
1,396
|
|
|
1,383
|
|
|
0.2
|
|
|
1,396
|
|
|||
Host Analytics, Inc.
|
One stop
|
|
N/A
|
|
|
8.50% cash/2.25% PIK
|
|
08/2021
|
|
1,170
|
|
|
1,119
|
|
|
0.1
|
|
|
1,170
|
|
|||
Host Analytics, Inc.
|
One stop
|
|
N/A
|
|
|
8.50% cash/2.25% PIK
|
|
08/2021
|
|
327
|
|
|
323
|
|
|
—
|
|
|
327
|
|
|||
Host Analytics, Inc.
|
One stop
|
|
N/A
|
|
|
8.50% cash/2.25% PIK
|
|
08/2021
|
|
197
|
|
|
193
|
|
|
—
|
|
|
197
|
|
|||
III US Holdings, LLC
|
One stop
|
|
L + 6.50%
|
|
|
N/A
(6)
|
|
09/2022
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Imprivata, Inc.
#*
|
Senior loan
|
|
L + 4.50%
|
(c)
|
|
6.24%
|
|
10/2023
|
|
16,611
|
|
|
16,419
|
|
|
1.9
|
|
|
16,611
|
|
|||
Imprivata, Inc.
(5)
|
Senior loan
|
|
L + 4.50%
|
|
|
N/A
(6)
|
|
10/2023
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
|||
Integration Appliance, Inc.
|
One stop
|
|
L + 8.25%
|
(a)
|
|
9.91%
|
|
09/2020
|
|
1,550
|
|
|
1,542
|
|
|
0.2
|
|
|
1,550
|
|
|||
Integration Appliance, Inc.
|
One stop
|
|
L + 8.25%
|
(a)
|
|
9.91%
|
|
09/2020
|
|
124
|
|
|
123
|
|
|
—
|
|
|
124
|
|
|||
Integration Appliance, Inc.
|
One stop
|
|
L + 8.25%
|
(a)
|
|
9.91%
|
|
09/2020
|
|
25
|
|
|
25
|
|
|
—
|
|
|
25
|
|
|||
JAMF Holdings, Inc.
|
One stop
|
|
L + 8.00%
|
(c)
|
|
9.82%
|
|
11/2022
|
|
5,764
|
|
|
5,658
|
|
|
0.7
|
|
|
5,764
|
|
|
Investment
Type
|
|
Spread
Above
Index
(1)
|
|
Interest
Rate
(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares (3) |
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value
(4)
|
||||||||
Diversified/Conglomerate Service - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
JAMF Holdings, Inc.
(5)
|
One stop
|
|
L + 8.00%
|
|
|
N/A
(6)
|
|
11/2022
|
|
$
|
—
|
|
|
$
|
(1
|
)
|
|
—
|
|
%
|
$
|
—
|
|
Maverick Bidco Inc.
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.56%
|
|
04/2023
|
|
22,926
|
|
|
22,531
|
|
|
2.6
|
|
|
22,926
|
|
|||
Maverick Bidco Inc.
(5)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(6)
|
|
04/2023
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
|||
Maverick Bidco Inc.
(5)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(6)
|
|
04/2023
|
|
—
|
|
|
(28
|
)
|
|
—
|
|
|
—
|
|
|||
MMan Acquisition Co.
#
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.31%
|
|
08/2023
|
|
12,451
|
|
|
12,284
|
|
|
1.4
|
|
|
12,451
|
|
|||
MMan Acquisition Co.
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.23%
|
|
08/2023
|
|
61
|
|
|
60
|
|
|
—
|
|
|
61
|
|
|||
Net Health Acquisition Corp.
#
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.48%
|
|
12/2023
|
|
4,897
|
|
|
4,851
|
|
|
0.6
|
|
|
4,897
|
|
|||
Net Health Acquisition Corp.
(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A
(6)
|
|
12/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Netsmart Technologies, Inc.
#
|
Senior loan
|
|
L + 4.50%
|
(a)
|
|
6.38%
|
|
04/2023
|
|
1,625
|
|
|
1,613
|
|
|
0.2
|
|
|
1,647
|
|
|||
Netsmart Technologies, Inc.
(5)
|
Senior loan
|
|
L + 4.75%
|
|
|
N/A
(6)
|
|
04/2023
|
|
—
|
|
|
(7
|
)
|
|
—
|
|
|
—
|
|
|||
Nextech Systems, LLC
#
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.89%
|
|
03/2024
|
|
12,719
|
|
|
12,672
|
|
|
1.5
|
|
|
12,672
|
|
|||
Nextech Systems, LLC
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(6)
|
|
03/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Nexus Brands Group, Inc.
#
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.11%
|
|
11/2023
|
|
3,840
|
|
|
3,795
|
|
|
0.4
|
|
|
3,840
|
|
|||
Nexus Brands Group, Inc.
|
One stop
|
|
P + 5.00%
|
(e)
|
|
9.75%
|
|
11/2023
|
|
1,383
|
|
|
1,361
|
|
|
0.2
|
|
|
1,383
|
|
|||
Nexus Brands Group, Inc.
(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(6)
|
|
11/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Property Brands, Inc.
#
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.89%
|
|
01/2024
|
|
9,428
|
|
|
9,314
|
|
|
1.1
|
|
|
9,334
|
|
|||
Property Brands, Inc.
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.89%
|
|
01/2024
|
|
3,106
|
|
|
3,076
|
|
|
0.4
|
|
|
3,075
|
|
|||
Property Brands, Inc.
(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(6)
|
|
01/2024
|
|
—
|
|
|
(11
|
)
|
|
—
|
|
|
(11
|
)
|
|||
Property Brands, Inc.
(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(6)
|
|
01/2024
|
|
—
|
|
|
(11
|
)
|
|
—
|
|
|
(1
|
)
|
|||
Quickbase, Inc.
#*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.31%
|
|
04/2022
|
|
25,269
|
|
|
24,832
|
|
|
2.9
|
|
|
25,269
|
|
|||
Quickbase, Inc.
(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(6)
|
|
04/2022
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
|||
Saba Software, Inc.
#
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.39%
|
|
05/2023
|
|
26,373
|
|
|
25,980
|
|
|
3.0
|
|
|
26,373
|
|
|||
Saba Software, Inc.
(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A
(6)
|
|
05/2023
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
|||
Saldon Holdings, Inc.
*
|
Senior loan
|
|
L + 4.50%
|
(c)
|
|
6.48%
|
|
09/2022
|
|
625
|
|
|
618
|
|
|
0.1
|
|
|
625
|
|
|||
Secure-24, LLC
*
|
One stop
|
|
L + 5.00%
|
(b)
|
|
6.90%
|
|
08/2019
|
|
1,783
|
|
|
1,776
|
|
|
0.2
|
|
|
1,783
|
|
|||
Secure-24, LLC
|
One stop
|
|
L + 5.00%
|
|
|
N/A
(6)
|
|
08/2019
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Severin Acquisition, LLC
#
|
Senior loan
|
|
L + 4.75%
|
(a)
|
|
6.64%
|
|
07/2021
|
|
8,503
|
|
|
8,409
|
|
|
1.0
|
|
|
8,469
|
|
|||
Severin Acquisition, LLC
*
|
Senior loan
|
|
L + 5.38%
|
(a)
|
|
7.27%
|
|
07/2021
|
|
1,420
|
|
|
1,405
|
|
|
0.2
|
|
|
1,440
|
|
|||
Severin Acquisition, LLC
*
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.89%
|
|
07/2021
|
|
1,264
|
|
|
1,252
|
|
|
0.2
|
|
|
1,268
|
|
|||
Severin Acquisition, LLC
#
|
Senior loan
|
|
L + 5.38%
|
(a)
|
|
7.27%
|
|
07/2021
|
|
966
|
|
|
956
|
|
|
0.1
|
|
|
980
|
|
|||
Severin Acquisition, LLC
*
|
Senior loan
|
|
L + 4.88%
|
(a)
|
|
6.77%
|
|
07/2021
|
|
312
|
|
|
308
|
|
|
—
|
|
|
312
|
|
|||
Severin Acquisition, LLC
(5)
|
Senior loan
|
|
L + 4.75%
|
|
|
N/A
(6)
|
|
07/2021
|
|
—
|
|
|
(6
|
)
|
|
—
|
|
|
—
|
|
|||
Switchfly, Inc.
|
One stop
|
|
L + 10.00%
|
(c)
|
|
10.22% cash/1.50% PIK
|
|
04/2020
|
|
3,229
|
|
|
3,130
|
|
|
0.4
|
|
|
3,229
|
|
|||
Switchfly, Inc.
|
One stop
|
|
L + 10.00%
|
|
|
N/A
(6)
|
|
04/2020
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Telesoft, LLC
#
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.19%
|
|
07/2022
|
|
5,326
|
|
|
5,280
|
|
|
0.6
|
|
|
5,326
|
|
|||
Telesoft, LLC
(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A
(6)
|
|
07/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Transaction Data Systems, Inc.
#
|
Senior loan
|
|
L + 5.25%
|
(c)
|
|
7.56%
|
|
06/2021
|
|
1,889
|
|
|
1,880
|
|
|
0.2
|
|
|
1,889
|
|
|||
Transaction Data Systems, Inc.
*
|
Senior loan
|
|
L + 5.25%
|
(c)
|
|
7.56%
|
|
06/2021
|
|
391
|
|
|
386
|
|
|
—
|
|
|
391
|
|
|||
Transaction Data Systems, Inc.
|
Senior loan
|
|
L + 4.50%
|
(c)
|
|
6.81%
|
|
06/2020
|
|
5
|
|
|
5
|
|
|
—
|
|
|
4
|
|
|||
Trintech, Inc.
#*
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.28%
|
|
12/2023
|
|
12,044
|
|
|
11,900
|
|
|
1.4
|
|
|
12,044
|
|
|||
Trintech, Inc.
#*
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.28%
|
|
12/2023
|
|
6,096
|
|
|
6,024
|
|
|
0.7
|
|
|
6,096
|
|
|||
Trintech, Inc.
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.28%
|
|
12/2023
|
|
30
|
|
|
28
|
|
|
—
|
|
|
30
|
|
|||
True Commerce, Inc.
#
|
One stop
|
|
L + 5.75%
|
(c)
|
|
8.06%
|
|
11/2023
|
|
7,143
|
|
|
7,060
|
|
|
0.8
|
|
|
7,143
|
|
|||
True Commerce, Inc.
(8)(9)
|
One stop
|
|
L + 5.75%
|
(c)
|
|
8.06%
|
|
11/2023
|
|
2,804
|
|
|
2,771
|
|
|
0.3
|
|
|
2,978
|
|
|||
True Commerce, Inc.
|
One stop
|
|
L + 5.75%
|
(c)
|
|
8.06%
|
|
11/2023
|
|
933
|
|
|
922
|
|
|
0.1
|
|
|
933
|
|
|||
True Commerce, Inc.
(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A
(6)
|
|
11/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Valant Medical Solutions, Inc.
|
One stop
|
|
L + 11.00%
|
(a)
|
|
10.47% cash/2.25% PIK
|
|
10/2020
|
|
1,038
|
|
|
957
|
|
|
0.1
|
|
|
1,038
|
|
|||
Valant Medical Solutions, Inc.
|
One stop
|
|
N/A
|
|
|
6.00% PIK
|
|
02/2020
|
|
189
|
|
|
189
|
|
|
—
|
|
|
189
|
|
|||
Valant Medical Solutions, Inc.
|
One stop
|
|
L + 11.00%
|
(a)
|
|
10.47% cash/2.25% PIK
|
|
10/2020
|
|
10
|
|
|
10
|
|
|
—
|
|
|
10
|
|
|||
Velocity Technology Solutions, Inc.
#
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.03%
|
|
12/2023
|
|
10,477
|
|
|
10,303
|
|
|
1.2
|
|
|
10,477
|
|
|||
Velocity Technology Solutions, Inc.
(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(6)
|
|
12/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Vendavo, Inc.
|
One stop
|
|
L + 8.50%
|
(c)
|
|
10.22%
|
|
10/2019
|
|
4,331
|
|
|
4,313
|
|
|
0.5
|
|
|
4,331
|
|
|||
Vendavo, Inc.
(5)
|
One stop
|
|
L + 8.50%
|
|
|
N/A
(6)
|
|
10/2019
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Vendor Credentialing Service LLC
#*
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.89%
|
|
11/2021
|
|
7,592
|
|
|
7,518
|
|
|
0.9
|
|
|
7,592
|
|
|
Investment
Type
|
|
Spread
Above
Index
(1)
|
|
Interest
Rate
(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares (3) |
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value
(4)
|
||||||||
Diversified/Conglomerate Service - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Vendor Credentialing Service LLC
(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(6)
|
|
11/2021
|
|
$
|
—
|
|
|
$
|
(1
|
)
|
|
—
|
|
%
|
$
|
—
|
|
Verisys Corporation
#
|
One stop
|
|
L + 6.75%
|
(c)
|
|
9.06%
|
|
01/2023
|
|
4,781
|
|
|
4,723
|
|
|
0.6
|
|
|
4,781
|
|
|||
Verisys Corporation
(5)
|
One stop
|
|
L + 6.75%
|
|
|
N/A
(6)
|
|
01/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Workforce Software, LLC
|
One stop
|
|
L + 10.50%
|
(c)
|
|
5.21% cash/7.00% PIK
|
|
06/2021
|
|
23,732
|
|
|
23,630
|
|
|
2.7
|
|
|
23,732
|
|
|||
Workforce Software, LLC
|
One stop
|
|
L + 10.50%
|
(c)
|
|
5.21% cash/7.00% PIK
|
|
06/2021
|
|
52
|
|
|
52
|
|
|
—
|
|
|
52
|
|
|||
Xmatters, Inc. and Alarmpoint, Inc.
|
One stop
|
|
L + 9.25%
|
(a)
|
|
10.35% cash/0.75% PIK
|
|
08/2021
|
|
3,022
|
|
|
2,965
|
|
|
0.3
|
|
|
3,022
|
|
|||
Xmatters, Inc. and Alarmpoint, Inc.
|
One stop
|
|
P + 8.00%
|
(e)
|
|
12.00% cash/0.75% PIK
|
|
08/2021
|
|
20
|
|
|
20
|
|
|
—
|
|
|
20
|
|
|||
|
|
|
|
|
|
|
|
|
|
413,925
|
|
|
408,286
|
|
|
47.6
|
|
|
413,197
|
|
|||
Ecological
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Pace Analytical Services, LLC
#*
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.14%
|
|
09/2022
|
|
15,143
|
|
|
14,943
|
|
|
1.7
|
|
|
15,143
|
|
|||
Pace Analytical Services, LLC
#
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.14%
|
|
09/2022
|
|
1,408
|
|
|
1,390
|
|
|
0.2
|
|
|
1,408
|
|
|||
Pace Analytical Services, LLC
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.10%
|
|
09/2022
|
|
1,135
|
|
|
1,125
|
|
|
0.1
|
|
|
1,135
|
|
|||
Pace Analytical Services, LLC
*
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.14%
|
|
09/2022
|
|
347
|
|
|
343
|
|
|
—
|
|
|
347
|
|
|||
Pace Analytical Services, LLC
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.14%
|
|
09/2022
|
|
50
|
|
|
49
|
|
|
—
|
|
|
50
|
|
|||
Pace Analytical Services, LLC
(5)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(6)
|
|
09/2022
|
|
—
|
|
|
(33
|
)
|
|
—
|
|
|
—
|
|
|||
WRE Holding Corp.
#
|
Senior loan
|
|
L + 4.75%
|
(a)(e)
|
|
6.63%
|
|
01/2023
|
|
1,319
|
|
|
1,306
|
|
|
0.2
|
|
|
1,319
|
|
|||
WRE Holding Corp.
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.59%
|
|
01/2023
|
|
919
|
|
|
908
|
|
|
0.1
|
|
|
919
|
|
|||
WRE Holding Corp.
|
Senior loan
|
|
L + 4.75%
|
(a)
|
|
6.63%
|
|
01/2023
|
|
16
|
|
|
16
|
|
|
—
|
|
|
16
|
|
|||
WRE Holding Corp.
(5)
|
Senior loan
|
|
L + 4.75%
|
|
|
N/A
(6)
|
|
01/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
|
|
|
|
|
|
|
|
|
|
20,337
|
|
|
20,046
|
|
|
2.3
|
|
|
20,337
|
|
|||
Electronics
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Appriss Holdings, Inc.
#*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.31%
|
|
11/2020
|
|
14,693
|
|
|
14,569
|
|
|
1.7
|
|
|
14,693
|
|
|||
Appriss Holdings, Inc.
(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(6)
|
|
11/2020
|
|
—
|
|
|
(9
|
)
|
|
—
|
|
|
—
|
|
|||
Compusearch Software Holdings, Inc.
*
|
Senior loan
|
|
L + 4.25%
|
(c)
|
|
6.55%
|
|
05/2021
|
|
1,003
|
|
|
1,001
|
|
|
0.1
|
|
|
1,003
|
|
|||
Diligent Corporation
#*
|
One stop
|
|
L + 6.50%
|
(d)
|
|
8.94%
|
|
04/2022
|
|
31,538
|
|
|
30,857
|
|
|
3.6
|
|
|
31,538
|
|
|||
Diligent Corporation
#*
|
One stop
|
|
L + 6.50%
|
(d)
|
|
8.94%
|
|
04/2022
|
|
8,845
|
|
|
8,706
|
|
|
1.0
|
|
|
8,845
|
|
|||
Diligent Corporation
#
|
One stop
|
|
L + 6.50%
|
(d)
|
|
8.94%
|
|
04/2022
|
|
7,826
|
|
|
7,711
|
|
|
0.9
|
|
|
7,826
|
|
|||
Diligent Corporation
(5)
|
One stop
|
|
L + 6.50%
|
|
|
N/A
(6)
|
|
04/2022
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
(1
|
)
|
|||
Gamma Technologies, LLC
*
|
One stop
|
|
L + 4.75%
|
(a)
|
|
6.64%
|
|
06/2021
|
|
4,912
|
|
|
4,885
|
|
|
0.6
|
|
|
4,912
|
|
|||
Gamma Technologies, LLC
(5)
|
One stop
|
|
L + 5.00%
|
|
|
N/A
(6)
|
|
06/2021
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
LD Intermediate Holdings, Inc.
*
|
Senior loan
|
|
L + 5.88%
|
(c)
|
|
7.67%
|
|
12/2022
|
|
2,843
|
|
|
2,663
|
|
|
0.3
|
|
|
2,558
|
|
|||
SEI, Inc.
#*
|
Senior loan
|
|
L + 5.25%
|
(a)
|
|
7.14%
|
|
07/2023
|
|
6,491
|
|
|
6,424
|
|
|
0.8
|
|
|
6,425
|
|
|||
Sloan Company, Inc., The
#
|
One stop
|
|
L + 7.25%
|
(c)
|
|
9.56%
|
|
04/2020
|
|
3,110
|
|
|
3,083
|
|
|
0.4
|
|
|
2,954
|
|
|||
Sloan Company, Inc., The
|
One stop
|
|
L + 7.25%
|
(c)
|
|
9.17%
|
|
04/2020
|
|
209
|
|
|
209
|
|
|
—
|
|
|
199
|
|
|||
Sloan Company, Inc., The
|
One stop
|
|
L + 7.25%
|
(c)
|
|
9.13%
|
|
04/2020
|
|
35
|
|
|
35
|
|
|
—
|
|
|
33
|
|
|||
Sovos Compliance
#*
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.89%
|
|
03/2022
|
|
32,258
|
|
|
31,831
|
|
|
3.7
|
|
|
32,258
|
|
|||
Sovos Compliance
*
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.89%
|
|
03/2022
|
|
5,400
|
|
|
5,330
|
|
|
0.6
|
|
|
5,400
|
|
|||
Sovos Compliance
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(6)
|
|
03/2022
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Sovos Compliance
(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(6)
|
|
03/2022
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
|||
|
|
|
|
|
|
|
|
|
|
119,163
|
|
|
117,290
|
|
|
13.7
|
|
|
118,643
|
|
|||
Grocery
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Teasdale Quality Foods, Inc.*
|
Senior loan
|
|
L + 4.75%
|
(b)
|
|
6.41%
|
|
10/2020
|
|
120
|
|
|
120
|
|
|
—
|
|
|
120
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Healthcare, Education and Childcare
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Active Day, Inc.
#*
|
One stop
|
|
L + 6.00%
|
(b)
|
|
8.00%
|
|
12/2021
|
|
11,467
|
|
|
11,341
|
|
|
1.3
|
|
|
11,467
|
|
|||
Active Day, Inc.
*
|
One stop
|
|
L + 6.00%
|
(b)
|
|
8.00%
|
|
12/2021
|
|
885
|
|
|
879
|
|
|
0.1
|
|
|
885
|
|
|||
Active Day, Inc.
#
|
One stop
|
|
L + 6.00%
|
(b)
|
|
8.00%
|
|
12/2021
|
|
570
|
|
|
567
|
|
|
0.1
|
|
|
570
|
|
|||
Active Day, Inc.
#
|
One stop
|
|
L + 6.00%
|
(b)
|
|
8.00%
|
|
12/2021
|
|
394
|
|
|
391
|
|
|
0.1
|
|
|
394
|
|
|||
Active Day, Inc.
(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(6)
|
|
12/2021
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Active Day, Inc.
(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(6)
|
|
12/2021
|
|
—
|
|
|
(11
|
)
|
|
—
|
|
|
—
|
|
|||
Acuity Eyecare Holdings, LLC
#
|
One stop
|
|
L + 6.75%
|
(b)
|
|
8.64%
|
|
03/2022
|
|
4,805
|
|
|
4,747
|
|
|
0.6
|
|
|
4,805
|
|
|||
Acuity Eyecare Holdings, LLC
|
One stop
|
|
L + 6.75%
|
(b)
|
|
8.70%
|
|
03/2022
|
|
3,194
|
|
|
3,155
|
|
|
0.4
|
|
|
3,194
|
|
|||
Acuity Eyecare Holdings, LLC
|
One stop
|
|
L + 6.75%
|
(b)
|
|
8.75%
|
|
03/2022
|
|
433
|
|
|
396
|
|
|
0.1
|
|
|
395
|
|
|||
Acuity Eyecare Holdings, LLC
|
One stop
|
|
P + 5.75%
|
(e)
|
|
10.50%
|
|
03/2022
|
|
2
|
|
|
2
|
|
|
—
|
|
|
2
|
|
|||
ADCS Clinics Intermediate Holdings, LLC
#
|
One stop
|
|
L + 5.75%
|
(c)
|
|
8.06%
|
|
05/2022
|
|
21,794
|
|
|
21,442
|
|
|
2.5
|
|
|
21,358
|
|
|
Investment
Type
|
|
Spread
Above
Index
(1)
|
|
Interest
Rate
(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares (3) |
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value
(4)
|
||||||||
Healthcare, Education and Childcare - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
ADCS Clinics Intermediate Holdings, LLC
#
|
One stop
|
|
L + 5.75%
|
(c)
|
|
8.06%
|
|
05/2022
|
|
$
|
108
|
|
|
$
|
107
|
|
|
—
|
|
%
|
$
|
106
|
|
ADCS Clinics Intermediate Holdings, LLC
|
One stop
|
|
L + 5.75%
|
(c)
|
|
8.06%
|
|
05/2022
|
|
83
|
|
|
83
|
|
|
—
|
|
|
82
|
|
|||
ADCS Clinics Intermediate Holdings, LLC
|
One stop
|
|
P + 4.75%
|
(e)
|
|
9.50%
|
|
05/2022
|
|
50
|
|
|
48
|
|
|
—
|
|
|
48
|
|
|||
ADCS Clinics Intermediate Holdings, LLC
*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
8.06%
|
|
05/2022
|
|
32
|
|
|
31
|
|
|
—
|
|
|
31
|
|
|||
ADCS Clinics Intermediate Holdings, LLC
(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A
(6)
|
|
05/2022
|
|
—
|
|
|
(4
|
)
|
|
—
|
|
|
—
|
|
|||
Advanced Pain Management Holdings, Inc.
#
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.89%
|
|
05/2018
|
|
5,593
|
|
|
5,593
|
|
|
0.5
|
|
|
4,642
|
|
|||
Advanced Pain Management Holdings, Inc.
#
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.89%
|
|
05/2018
|
|
383
|
|
|
382
|
|
|
—
|
|
|
318
|
|
|||
Advanced Pain Management Holdings, Inc.
|
Senior loan
|
|
L + 5.00%
|
|
|
N/A
(6)
|
|
05/2018
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Agilitas USA, Inc.
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.94%
|
|
04/2022
|
|
1,966
|
|
|
1,950
|
|
|
0.2
|
|
|
1,887
|
|
|||
Agilitas USA, Inc.
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.95%
|
|
04/2022
|
|
10
|
|
|
9
|
|
|
—
|
|
|
7
|
|
|||
Agilitas USA, Inc.
(5)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(6)
|
|
04/2022
|
|
—
|
|
|
(13
|
)
|
|
—
|
|
|
—
|
|
|||
Apothecary Products, LLC
*
|
Senior loan
|
|
L + 4.00%
|
(c)
|
|
5.72%
|
|
02/2019
|
|
1,857
|
|
|
1,857
|
|
|
0.2
|
|
|
1,857
|
|
|||
Apothecary Products, LLC
|
Senior loan
|
|
L + 4.00%
|
(c)
|
|
5.74%
|
|
02/2019
|
|
107
|
|
|
107
|
|
|
—
|
|
|
107
|
|
|||
Aris Teleradiology Company, LLC
#*
|
Senior loan
|
|
L + 5.50%
|
(c)
|
|
7.81%
|
|
03/2021
|
|
2,500
|
|
|
2,484
|
|
|
0.2
|
|
|
1,875
|
|
|||
Aris Teleradiology Company, LLC
(5)
|
Senior loan
|
|
L + 5.50%
|
(c)
|
|
7.28%
|
|
03/2021
|
|
25
|
|
|
25
|
|
|
—
|
|
|
(15
|
)
|
|||
Avalign Technologies, Inc.
*
|
Senior loan
|
|
L + 4.50%
|
(a)
|
|
6.38%
|
|
07/2021
|
|
948
|
|
|
946
|
|
|
0.1
|
|
|
948
|
|
|||
BIORECLAMATIONIVT, LLC
#*
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.64%
|
|
01/2021
|
|
14,983
|
|
|
14,837
|
|
|
1.7
|
|
|
14,983
|
|
|||
BIORECLAMATIONIVT, LLC
|
One stop
|
|
P + 4.75%
|
(e)
|
|
9.50%
|
|
01/2021
|
|
55
|
|
|
54
|
|
|
—
|
|
|
55
|
|
|||
California Cryobank, LLC
*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.81%
|
|
08/2019
|
|
2,473
|
|
|
2,473
|
|
|
0.3
|
|
|
2,473
|
|
|||
California Cryobank, LLC
*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.81%
|
|
08/2019
|
|
948
|
|
|
940
|
|
|
0.1
|
|
|
948
|
|
|||
California Cryobank, LLC
*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.81%
|
|
08/2019
|
|
316
|
|
|
316
|
|
|
—
|
|
|
313
|
|
|||
California Cryobank, LLC
|
One stop
|
|
L + 5.50%
|
|
|
N/A
(6)
|
|
08/2019
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
California Cryobank, LLC
(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A
(6)
|
|
08/2019
|
|
—
|
|
|
(13
|
)
|
|
—
|
|
|
(9
|
)
|
|||
CLP Healthcare Services, Inc.
*
|
Senior loan
|
|
L + 5.50%
|
(a)
|
|
7.38%
|
|
12/2020
|
|
931
|
|
|
924
|
|
|
0.1
|
|
|
913
|
|
|||
Curo Health Services LLC
#
|
Senior loan
|
|
L + 4.00%
|
(c)
|
|
5.81%
|
|
02/2022
|
|
823
|
|
|
823
|
|
|
0.1
|
|
|
821
|
|
|||
DCA Investment Holding, LLC
#*
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.56%
|
|
07/2021
|
|
14,527
|
|
|
14,421
|
|
|
1.7
|
|
|
14,527
|
|
|||
DCA Investment Holding, LLC
#*
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.56%
|
|
07/2021
|
|
13,554
|
|
|
13,425
|
|
|
1.6
|
|
|
13,554
|
|
|||
DCA Investment Holding, LLC
#*
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.56%
|
|
07/2021
|
|
6,073
|
|
|
5,989
|
|
|
0.7
|
|
|
6,073
|
|
|||
DCA Investment Holding, LLC
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.56%
|
|
07/2021
|
|
152
|
|
|
150
|
|
|
—
|
|
|
152
|
|
|||
DCA Investment Holding, LLC
(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A
(6)
|
|
07/2021
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
DCA Investment Holding, LLC
(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A
(6)
|
|
07/2021
|
|
—
|
|
|
(11
|
)
|
|
—
|
|
|
—
|
|
|||
DCA Investment Holding, LLC
(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A
(6)
|
|
07/2021
|
|
—
|
|
|
(181
|
)
|
|
—
|
|
|
—
|
|
|||
Deca Dental Management LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.56%
|
|
07/2020
|
|
7,481
|
|
|
7,429
|
|
|
0.9
|
|
|
7,481
|
|
|||
Deca Dental Management LLC
*
|
One stop
|
|
L + 6.25%
|
(a)(c)
|
|
8.37%
|
|
07/2020
|
|
910
|
|
|
906
|
|
|
0.1
|
|
|
910
|
|
|||
Deca Dental Management LLC
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.14%
|
|
07/2020
|
|
50
|
|
|
50
|
|
|
—
|
|
|
50
|
|
|||
Deca Dental Management LLC
(5)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(6)
|
|
07/2020
|
|
—
|
|
|
(5
|
)
|
|
—
|
|
|
—
|
|
|||
Dental Holdings Corporation
*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.77%
|
|
02/2020
|
|
3,183
|
|
|
3,157
|
|
|
0.4
|
|
|
3,119
|
|
|||
Dental Holdings Corporation
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.77%
|
|
02/2020
|
|
505
|
|
|
501
|
|
|
0.1
|
|
|
495
|
|
|||
Dental Holdings Corporation
|
One stop
|
|
L + 6.00%
|
(c)(e)
|
|
8.75%
|
|
02/2020
|
|
196
|
|
|
193
|
|
|
—
|
|
|
191
|
|
|||
eSolutions, Inc.
#*
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.81%
|
|
03/2022
|
|
18,348
|
|
|
18,168
|
|
|
2.1
|
|
|
18,348
|
|
|||
eSolutions, Inc.
(5)
|
One stop
|
|
L + 6.50%
|
|
|
N/A
(6)
|
|
03/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Excelligence Learning Corporation
#
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.88%
|
|
04/2023
|
|
6,268
|
|
|
6,215
|
|
|
0.7
|
|
|
6,268
|
|
|||
Eyecare Services Partners Holdings LLC
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.56%
|
|
05/2023
|
|
10,441
|
|
|
10,284
|
|
|
1.2
|
|
|
10,441
|
|
|||
Eyecare Services Partners Holdings LLC
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.56%
|
|
05/2023
|
|
6,713
|
|
|
6,713
|
|
|
0.8
|
|
|
6,713
|
|
|||
Eyecare Services Partners Holdings LLC
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.03%
|
|
05/2023
|
|
2,241
|
|
|
2,241
|
|
|
0.3
|
|
|
2,241
|
|
|||
Eyecare Services Partners Holdings LLC
#
|
One stop
|
|
L + 6.25%
|
(b)
|
|
8.14%
|
|
05/2023
|
|
1,088
|
|
|
1,088
|
|
|
0.1
|
|
|
1,088
|
|
|||
Eyecare Services Partners Holdings LLC
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.03%
|
|
05/2023
|
|
958
|
|
|
958
|
|
|
0.1
|
|
|
958
|
|
|||
Eyecare Services Partners Holdings LLC
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.56%
|
|
05/2023
|
|
619
|
|
|
459
|
|
|
0.1
|
|
|
619
|
|
|||
Eyecare Services Partners Holdings LLC
(5)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(6)
|
|
05/2023
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
—
|
|
|||
Eyecare Services Partners Holdings LLC
(5)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(6)
|
|
05/2023
|
|
—
|
|
|
(77
|
)
|
|
—
|
|
|
—
|
|
|||
Eyecare Services Partners Holdings LLC
(5)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(6)
|
|
05/2023
|
|
—
|
|
|
(90
|
)
|
|
—
|
|
|
—
|
|
|||
G & H Wire Company, Inc.
#
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.39%
|
|
09/2023
|
|
1,143
|
|
|
1,132
|
|
|
0.1
|
|
|
1,143
|
|
|||
G & H Wire Company, Inc.
(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A
(6)
|
|
09/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Immucor, Inc.
#
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
7.30%
|
|
06/2021
|
|
2,044
|
|
|
2,033
|
|
|
0.2
|
|
|
2,098
|
|
|||
Kareo, Inc.
|
One stop
|
|
L + 9.00%
|
(b)
|
|
10.99%
|
|
06/2022
|
|
5,755
|
|
|
5,534
|
|
|
0.7
|
|
|
5,755
|
|
|
Investment
Type
|
|
Spread
Above
Index
(1)
|
|
Interest
Rate
(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares (3) |
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value
(4)
|
||||||||
Healthcare, Education and Childcare - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Kareo, Inc.
|
One stop
|
|
L + 9.00%
|
|
|
N/A
(6)
|
|
06/2022
|
|
$
|
—
|
|
|
$
|
—
|
|
|
—
|
|
%
|
$
|
—
|
|
Katena Holdings, Inc.
*
|
One stop
|
|
L + 6.75%
|
(c)
|
|
9.06%
|
|
06/2021
|
|
4,498
|
|
|
4,462
|
|
|
0.5
|
|
|
4,408
|
|
|||
Katena Holdings, Inc.
*
|
One stop
|
|
L + 6.75%
|
(c)
|
|
9.06%
|
|
06/2021
|
|
439
|
|
|
436
|
|
|
0.1
|
|
|
430
|
|
|||
Katena Holdings, Inc.
#
|
One stop
|
|
L + 6.75%
|
(c)
|
|
9.06%
|
|
06/2021
|
|
302
|
|
|
298
|
|
|
—
|
|
|
296
|
|
|||
Katena Holdings, Inc.
|
One stop
|
|
P + 5.75%
|
(e)
|
|
10.50%
|
|
06/2021
|
|
100
|
|
|
99
|
|
|
—
|
|
|
98
|
|
|||
Lombart Brothers, Inc.
#
|
One stop
|
|
L + 6.75%
|
(c)
|
|
9.06%
|
|
04/2022
|
|
3,360
|
|
|
3,306
|
|
|
0.4
|
|
|
3,360
|
|
|||
Lombart Brothers, Inc.
#(8)
|
One stop
|
|
L + 6.75%
|
(c)
|
|
9.06%
|
|
04/2022
|
|
1,542
|
|
|
1,518
|
|
|
0.2
|
|
|
1,542
|
|
|||
Lombart Brothers, Inc.
|
One stop
|
|
P + 5.50%
|
(e)
|
|
10.25%
|
|
04/2022
|
|
16
|
|
|
16
|
|
|
—
|
|
|
16
|
|
|||
Lombart Brothers, Inc.
(8)
|
One stop
|
|
L + 6.75%
|
|
|
N/A
(6)
|
|
04/2022
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Maverick Healthcare Group, LLC
#
|
Senior loan
|
|
L + 7.50%
|
(a)
|
|
7.38% cash/2.00% PIK
|
|
12/2017
|
|
453
|
|
|
453
|
|
|
0.1
|
|
|
453
|
|
|||
MWD Management, LLC & MWD Services, Inc.
#
|
One stop
|
|
L + 2.25%
|
(c)
|
|
4.56%
|
|
06/2023
|
|
4,403
|
|
|
4,403
|
|
|
0.5
|
|
|
4,403
|
|
|||
MWD Management, LLC & MWD Services, Inc.
#
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.56%
|
|
06/2023
|
|
1,302
|
|
|
1,288
|
|
|
0.2
|
|
|
1,302
|
|
|||
MWD Management, LLC & MWD Services, Inc.
(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A
(6)
|
|
06/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
MWD Management, LLC & MWD Services, Inc.
(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A
(6)
|
|
06/2023
|
|
—
|
|
|
(79
|
)
|
|
—
|
|
|
—
|
|
|||
Oliver Street Dermatology Holdings, LLC
#*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.31%
|
|
05/2022
|
|
8,761
|
|
|
8,628
|
|
|
1.0
|
|
|
8,761
|
|
|||
Oliver Street Dermatology Holdings, LLC
*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.31%
|
|
05/2022
|
|
1,895
|
|
|
1,874
|
|
|
0.2
|
|
|
1,895
|
|
|||
Oliver Street Dermatology Holdings, LLC
|
One stop
|
|
L + 6.00%
|
(a)(b)(c)
|
|
7.79%
|
|
05/2022
|
|
1,359
|
|
|
1,343
|
|
|
0.2
|
|
|
1,359
|
|
|||
Oliver Street Dermatology Holdings, LLC
#
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.31%
|
|
05/2022
|
|
1,048
|
|
|
1,037
|
|
|
0.1
|
|
|
1,048
|
|
|||
Oliver Street Dermatology Holdings, LLC
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.77%
|
|
05/2022
|
|
814
|
|
|
805
|
|
|
0.1
|
|
|
814
|
|
|||
Oliver Street Dermatology Holdings, LLC
|
One stop
|
|
L + 6.00%
|
(a)(b)
|
|
7.89%
|
|
05/2022
|
|
351
|
|
|
311
|
|
|
—
|
|
|
310
|
|
|||
Oliver Street Dermatology Holdings, LLC
*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.31%
|
|
05/2022
|
|
46
|
|
|
45
|
|
|
—
|
|
|
46
|
|
|||
Oliver Street Dermatology Holdings, LLC
*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.31%
|
|
05/2022
|
|
42
|
|
|
41
|
|
|
—
|
|
|
42
|
|
|||
Oliver Street Dermatology Holdings, LLC
*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.31%
|
|
05/2022
|
|
32
|
|
|
32
|
|
|
—
|
|
|
32
|
|
|||
Oliver Street Dermatology Holdings, LLC
*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.31%
|
|
05/2022
|
|
30
|
|
|
30
|
|
|
—
|
|
|
30
|
|
|||
Oliver Street Dermatology Holdings, LLC
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.30%
|
|
05/2022
|
|
17
|
|
|
15
|
|
|
—
|
|
|
15
|
|
|||
ONsite Mammography, LLC
|
One stop
|
|
L + 6.75%
|
(a)
|
|
8.64%
|
|
11/2023
|
|
2,852
|
|
|
2,819
|
|
|
0.3
|
|
|
2,852
|
|
|||
ONsite Mammography, LLC
|
One stop
|
|
L + 6.75%
|
(d)
|
|
8.93%
|
|
11/2023
|
|
238
|
|
|
225
|
|
|
—
|
|
|
238
|
|
|||
ONsite Mammography, LLC
(5)
|
One stop
|
|
L + 6.75%
|
|
|
N/A
(6)
|
|
11/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Pinnacle Treatment Centers, Inc.
#
|
One stop
|
|
L + 6.25%
|
(b)
|
|
8.04%
|
|
08/2021
|
|
9,699
|
|
|
9,584
|
|
|
1.1
|
|
|
9,699
|
|
|||
Pinnacle Treatment Centers, Inc.
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.07%
|
|
08/2021
|
|
55
|
|
|
53
|
|
|
—
|
|
|
55
|
|
|||
Pinnacle Treatment Centers, Inc.
|
One stop
|
|
L + 6.25%
|
(b)
|
|
8.04%
|
|
08/2021
|
|
30
|
|
|
29
|
|
|
—
|
|
|
30
|
|
|||
PPT Management Holdings, LLC
#*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.70%
|
|
12/2022
|
|
11,652
|
|
|
11,446
|
|
|
1.1
|
|
|
9,905
|
|
|||
PPT Management Holdings, LLC
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.89%
|
|
12/2022
|
|
200
|
|
|
196
|
|
|
—
|
|
|
170
|
|
|||
PPT Management Holdings, LLC
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.75%
|
|
12/2022
|
|
134
|
|
|
134
|
|
|
—
|
|
|
114
|
|
|||
PPT Management Holdings, LLC
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.10%
|
|
12/2022
|
|
81
|
|
|
81
|
|
|
—
|
|
|
68
|
|
|||
PPT Management Holdings, LLC
(5)
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.31%
|
|
12/2022
|
|
38
|
|
|
29
|
|
|
—
|
|
|
(4
|
)
|
|||
Premise Health Holding Corp.
*
|
One stop
|
|
L + 4.50%
|
(c)
|
|
6.81%
|
|
06/2020
|
|
1,977
|
|
|
1,977
|
|
|
0.2
|
|
|
1,977
|
|
|||
Premise Health Holding Corp.
|
One stop
|
|
L + 4.50%
|
|
|
N/A
(6)
|
|
06/2020
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Radiology Partners, Inc.
#
|
One stop
|
|
L + 5.75%
|
(c)(d)
|
|
7.61%
|
|
12/2023
|
|
26,754
|
|
|
26,451
|
|
|
3.1
|
|
|
26,754
|
|
|||
Radiology Partners, Inc.
|
One stop
|
|
L + 5.75%
|
(c)
|
|
8.05%
|
|
12/2023
|
|
4,082
|
|
|
3,965
|
|
|
0.5
|
|
|
3,961
|
|
|||
Radiology Partners, Inc.
(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A
(6)
|
|
12/2023
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
—
|
|
|||
Reliant Pro ReHab, LLC
*
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.88%
|
|
12/2018
|
|
1,126
|
|
|
1,126
|
|
|
0.1
|
|
|
1,126
|
|
|||
Reliant Pro ReHab, LLC
|
Senior loan
|
|
P + 4.00%
|
(e)
|
|
8.75%
|
|
12/2018
|
|
108
|
|
|
108
|
|
|
—
|
|
|
108
|
|
|||
Riverchase MSO, LLC
#*
|
Senior loan
|
|
L + 5.75%
|
(c)
|
|
8.06%
|
|
10/2022
|
|
4,915
|
|
|
4,858
|
|
|
0.6
|
|
|
4,915
|
|
|||
Riverchase MSO, LLC
|
Senior loan
|
|
L + 5.75%
|
(c)
|
|
7.96%
|
|
10/2022
|
|
54
|
|
|
53
|
|
|
—
|
|
|
54
|
|
|||
RXH Buyer Corporation
#
|
One stop
|
|
L + 5.75%
|
(c)
|
|
8.06%
|
|
09/2021
|
|
11,077
|
|
|
10,950
|
|
|
1.3
|
|
|
11,077
|
|
|||
RXH Buyer Corporation
*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
8.06%
|
|
09/2021
|
|
1,253
|
|
|
1,247
|
|
|
0.1
|
|
|
1,253
|
|
|||
RXH Buyer Corporation
|
One stop
|
|
L + 5.75%
|
(c)(e)
|
|
8.75%
|
|
09/2021
|
|
77
|
|
|
75
|
|
|
—
|
|
|
77
|
|
|||
SLMP, LLC
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.89%
|
|
05/2023
|
|
5,626
|
|
|
5,548
|
|
|
0.7
|
|
|
5,626
|
|
|||
SLMP, LLC
#
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.89%
|
|
05/2023
|
|
4,725
|
|
|
4,662
|
|
|
0.5
|
|
|
4,725
|
|
|||
SLMP, LLC
|
One stop
|
|
N/A
|
|
|
7.50% PIK
|
|
05/2027
|
|
109
|
|
|
109
|
|
|
—
|
|
|
116
|
|
|||
SLMP, LLC
(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(6)
|
|
05/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
SLMP, LLC
(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(6)
|
|
05/2023
|
|
—
|
|
|
(10
|
)
|
|
—
|
|
|
—
|
|
|||
Spear Education, LLC
*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.94%
|
|
08/2019
|
|
3,486
|
|
|
3,478
|
|
|
0.4
|
|
|
3,486
|
|
|||
Spear Education, LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.94%
|
|
08/2019
|
|
179
|
|
|
178
|
|
|
—
|
|
|
179
|
|
|
Investment
Type
|
|
Spread
Above
Index
(1)
|
|
Interest
Rate
(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares (3) |
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value
(4)
|
||||||||
Healthcare, Education and Childcare - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Spear Education, LLC
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(6)
|
|
08/2019
|
|
$
|
—
|
|
|
$
|
—
|
|
|
—
|
|
%
|
$
|
—
|
|
Summit Behavioral Healthcare, LLC
#
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.73%
|
|
10/2023
|
|
2,413
|
|
|
2,390
|
|
|
0.3
|
|
|
2,413
|
|
|||
Summit Behavioral Healthcare, LLC
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.78%
|
|
10/2023
|
|
13
|
|
|
13
|
|
|
—
|
|
|
13
|
|
|||
Summit Behavioral Healthcare, LLC
(5)
|
Senior loan
|
|
L + 4.75%
|
|
|
N/A
(6)
|
|
10/2023
|
|
—
|
|
|
(8
|
)
|
|
—
|
|
|
—
|
|
|||
WHCG Management, LLC
*
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
7.06%
|
|
03/2023
|
|
3,970
|
|
|
3,929
|
|
|
0.5
|
|
|
3,970
|
|
|||
WHCG Management, LLC
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.71%
|
|
03/2023
|
|
30
|
|
|
29
|
|
|
—
|
|
|
30
|
|
|||
WHCG Management, LLC
(5)
|
Senior loan
|
|
L + 4.75%
|
|
|
N/A
(6)
|
|
03/2023
|
|
—
|
|
|
(22
|
)
|
|
—
|
|
|
—
|
|
|||
WIRB-Copernicus Group, Inc.
#
|
Senior loan
|
|
L + 4.25%
|
(a)
|
|
6.14%
|
|
08/2022
|
|
10,481
|
|
|
10,407
|
|
|
1.2
|
|
|
10,429
|
|
|||
WIRB-Copernicus Group, Inc.
(5)
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A
(6)
|
|
08/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(2
|
)
|
|||
WIRB-Copernicus Group, Inc.
(5)
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A
(6)
|
|
08/2022
|
|
—
|
|
|
(25
|
)
|
|
—
|
|
|
(25
|
)
|
|||
|
|
|
|
|
|
|
|
|
|
318,228
|
|
|
313,981
|
|
|
36.2
|
|
|
313,733
|
|
|||
Home and Office Furnishings, Housewares, and Durable Consumer
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
1A Smart Start LLC
*
|
Senior loan
|
|
L + 4.50%
|
(a)
|
|
6.38%
|
|
02/2022
|
|
355
|
|
|
354
|
|
|
—
|
|
|
355
|
|
|||
CST Buyer Company
*
|
One stop
|
|
L + 5.00%
|
(c)
|
|
7.45%
|
|
03/2023
|
|
3,190
|
|
|
3,110
|
|
|
0.4
|
|
|
3,190
|
|
|||
CST Buyer Company
(5)
|
One stop
|
|
L + 5.00%
|
|
|
N/A
(6)
|
|
03/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Plano Molding Company, LLC
#
|
One stop
|
|
L + 8.00%
|
(a)
|
|
9.82%
|
|
05/2021
|
|
6,322
|
|
|
6,256
|
|
|
0.6
|
|
|
5,563
|
|
|||
|
|
|
|
|
|
|
|
|
|
9,867
|
|
|
9,719
|
|
|
1.0
|
|
|
9,108
|
|
|||
Hotels, Motels, Inns, and Gaming
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Aimbridge Hospitality, LLC
#*
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.39%
|
|
06/2022
|
|
5,019
|
|
|
4,944
|
|
|
0.6
|
|
|
5,019
|
|
|||
Aimbridge Hospitality, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.39%
|
|
06/2022
|
|
62
|
|
|
57
|
|
|
—
|
|
|
62
|
|
|||
Aimbridge Hospitality, LLC
(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A
(6)
|
|
06/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
|
|
|
|
|
|
|
|
|
|
5,081
|
|
|
5,000
|
|
|
0.6
|
|
|
5,081
|
|
|||
Insurance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Captive Resources Midco, LLC
#*
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.89%
|
|
12/2021
|
|
12,797
|
|
|
12,623
|
|
|
1.5
|
|
|
12,797
|
|
|||
Captive Resources Midco, LLC
(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(6)
|
|
12/2021
|
|
—
|
|
|
(5
|
)
|
|
—
|
|
|
—
|
|
|||
Captive Resources Midco, LLC
(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(6)
|
|
12/2021
|
|
—
|
|
|
(14
|
)
|
|
—
|
|
|
—
|
|
|||
Internet Pipeline, Inc.
#*
|
One stop
|
|
L + 7.25%
|
(a)
|
|
9.14%
|
|
08/2022
|
|
10,303
|
|
|
10,172
|
|
|
1.2
|
|
|
10,463
|
|
|||
Internet Pipeline, Inc.
#*
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.06%
|
|
08/2022
|
|
4,427
|
|
|
4,390
|
|
|
0.5
|
|
|
4,339
|
|
|||
Internet Pipeline, Inc.
(8)(9)
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.39%
|
|
08/2022
|
|
3,577
|
|
|
3,535
|
|
|
0.4
|
|
|
3,704
|
|
|||
Internet Pipeline, Inc.
*
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.04%
|
|
08/2022
|
|
1,676
|
|
|
1,661
|
|
|
0.2
|
|
|
1,642
|
|
|||
Internet Pipeline, Inc.
|
One stop
|
|
L + 7.25%
|
|
|
N/A
(6)
|
|
08/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|||
RSC Acquisition, Inc.
#*
|
Senior loan
|
|
L + 4.25%
|
(c)(e)
|
|
6.56%
|
|
11/2022
|
|
13,832
|
|
|
13,767
|
|
|
1.6
|
|
|
13,832
|
|
|||
RSC Acquisition, Inc.
|
Senior loan
|
|
L + 4.25%
|
(c)
|
|
6.02%
|
|
11/2021
|
|
31
|
|
|
31
|
|
|
—
|
|
|
31
|
|
|||
RSC Acquisition, Inc.
(5)
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A
(6)
|
|
11/2022
|
|
—
|
|
|
(39
|
)
|
|
—
|
|
|
—
|
|
|||
RSC Acquisition, Inc.
(5)
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A
(6)
|
|
11/2022
|
|
—
|
|
|
(61
|
)
|
|
—
|
|
|
—
|
|
|||
|
|
|
|
|
|
|
|
|
|
46,643
|
|
|
46,060
|
|
|
5.4
|
|
|
46,809
|
|
|||
Leisure, Amusement, Motion Pictures, Entertainment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
NFD Operating, LLC
*
|
One stop
|
|
L + 7.00%
|
(a)
|
|
8.66%
|
|
06/2021
|
|
2,159
|
|
|
2,138
|
|
|
0.2
|
|
|
2,159
|
|
|||
NFD Operating, LLC
|
One stop
|
|
L + 7.00%
|
|
|
N/A
(6)
|
|
06/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
NFD Operating, LLC
(5)
|
One stop
|
|
L + 7.00%
|
|
|
N/A
(6)
|
|
06/2021
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
PADI Holdco, Inc.
#
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.81%
|
|
04/2023
|
|
25,401
|
|
|
25,079
|
|
|
2.9
|
|
|
25,401
|
|
|||
PADI Holdco, Inc.
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.81%
|
|
04/2022
|
|
64
|
|
|
63
|
|
|
—
|
|
|
64
|
|
|||
Self Esteem Brands, LLC
#*
|
Senior loan
|
|
L + 4.75%
|
(a)
|
|
6.64%
|
|
02/2020
|
|
9,224
|
|
|
9,177
|
|
|
1.1
|
|
|
9,224
|
|
|||
Teaching Company, The
#*
|
One stop
|
|
L + 7.00%
|
(a)(c)
|
|
8.98%
|
|
08/2020
|
|
12,123
|
|
|
12,080
|
|
|
1.4
|
|
|
12,123
|
|
|||
Teaching Company, The
|
One stop
|
|
L + 7.00%
|
(c)
|
|
8.75%
|
|
08/2020
|
|
80
|
|
|
79
|
|
|
—
|
|
|
80
|
|
|||
Titan Fitness, LLC
*
|
One stop
|
|
L + 7.00%
|
(a)
|
|
8.66%
|
|
09/2019
|
|
1,943
|
|
|
1,943
|
|
|
0.2
|
|
|
1,943
|
|
|||
Titan Fitness, LLC
*
|
One stop
|
|
L + 7.00%
|
(a)
|
|
8.66%
|
|
09/2019
|
|
293
|
|
|
292
|
|
|
—
|
|
|
293
|
|
|||
Titan Fitness, LLC
#
|
One stop
|
|
L + 7.00%
|
(a)
|
|
8.66%
|
|
09/2019
|
|
257
|
|
|
257
|
|
|
—
|
|
|
257
|
|
|||
Titan Fitness, LLC
*
|
One stop
|
|
L + 7.00%
|
(a)
|
|
8.66%
|
|
09/2019
|
|
139
|
|
|
137
|
|
|
—
|
|
|
139
|
|
|||
Titan Fitness, LLC
|
One stop
|
|
L + 7.00%
|
|
|
N/A
(6)
|
|
09/2019
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
|
|
|
|
|
|
|
|
|
|
51,683
|
|
|
51,244
|
|
|
5.8
|
|
|
51,683
|
|
|||
Mining, Steel, Iron and Non-Precious Metals
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Benetech, Inc.
#
|
One stop
|
|
L + 11.00%
|
(a)
|
|
10.89% cash/2.00% PIK
|
|
05/2019
|
|
189
|
|
|
189
|
|
|
—
|
|
|
170
|
|
|||
Benetech, Inc.
|
One stop
|
|
P + 9.75%
|
(a)(e)
|
|
12.31% cash/2.00% PIK
|
|
05/2019
|
|
7
|
|
|
7
|
|
|
—
|
|
|
2
|
|
|||
|
|
|
|
|
|
|
|
|
|
196
|
|
|
196
|
|
|
—
|
|
|
172
|
|
|
Investment
Type
|
|
Spread
Above
Index
(1)
|
|
Interest
Rate
(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares (3) |
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value
(4)
|
||||||||
Oil and Gas
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Drilling Info, Inc.
#*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
8.06%
|
|
06/2020
|
|
$
|
26,499
|
|
|
$
|
26,303
|
|
|
3.1
|
|
%
|
$
|
26,499
|
|
Drilling Info, Inc.
|
One stop
|
|
L + 5.75%
|
|
|
N/A
(6)
|
|
06/2020
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
|
|
|
|
|
|
|
|
|
|
26,499
|
|
|
26,303
|
|
|
3.1
|
|
|
26,499
|
|
|||
Personal and Non Durable Consumer Products (Mfg. Only)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Georgica Pine Clothiers, LLC
*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.81%
|
|
11/2021
|
|
4,848
|
|
|
4,818
|
|
|
0.6
|
|
|
4,848
|
|
|||
Georgica Pine Clothiers, LLC
#
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.81%
|
|
11/2021
|
|
423
|
|
|
421
|
|
|
—
|
|
|
423
|
|
|||
Georgica Pine Clothiers, LLC
*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.81%
|
|
11/2021
|
|
297
|
|
|
295
|
|
|
—
|
|
|
297
|
|
|||
Georgica Pine Clothiers, LLC
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.81%
|
|
11/2021
|
|
37
|
|
|
37
|
|
|
—
|
|
|
37
|
|
|||
IMPLUS Footwear, LLC
#
|
One stop
|
|
L + 6.75%
|
(b)(c)
|
|
8.45%
|
|
04/2021
|
|
13,439
|
|
|
13,343
|
|
|
1.5
|
|
|
13,439
|
|
|||
IMPLUS Footwear, LLC
#
|
One stop
|
|
L + 6.75%
|
(c)(e)
|
|
8.93%
|
|
04/2021
|
|
2,366
|
|
|
2,349
|
|
|
0.3
|
|
|
2,366
|
|
|||
Massage Envy, LLC
*
|
One stop
|
|
L + 6.75%
|
(c)(e)
|
|
8.73%
|
|
09/2020
|
|
3,136
|
|
|
3,120
|
|
|
0.4
|
|
|
3,136
|
|
|||
Massage Envy, LLC
|
One stop
|
|
L + 6.75%
|
(c)
|
|
8.45%
|
|
09/2020
|
|
114
|
|
|
113
|
|
|
—
|
|
|
114
|
|
|||
Massage Envy, LLC
*
|
One stop
|
|
L + 6.75%
|
(c)
|
|
8.62%
|
|
09/2020
|
|
99
|
|
|
98
|
|
|
—
|
|
|
99
|
|
|||
Massage Envy, LLC
*
|
One stop
|
|
L + 6.75%
|
(c)(e)
|
|
8.76%
|
|
09/2020
|
|
94
|
|
|
94
|
|
|
—
|
|
|
94
|
|
|||
Massage Envy, LLC
|
One stop
|
|
L + 6.75%
|
(c)
|
|
8.86%
|
|
09/2020
|
|
91
|
|
|
87
|
|
|
—
|
|
|
87
|
|
|||
Massage Envy, LLC
*
|
One stop
|
|
L + 6.75%
|
(c)(e)
|
|
8.78%
|
|
09/2020
|
|
71
|
|
|
70
|
|
|
—
|
|
|
71
|
|
|||
Massage Envy, LLC
*
|
One stop
|
|
L + 6.75%
|
(c)(e)
|
|
8.68%
|
|
09/2020
|
|
46
|
|
|
45
|
|
|
—
|
|
|
46
|
|
|||
Massage Envy, LLC
*
|
One stop
|
|
L + 6.75%
|
(c)(e)
|
|
8.89%
|
|
09/2020
|
|
30
|
|
|
30
|
|
|
—
|
|
|
30
|
|
|||
Massage Envy, LLC
|
One stop
|
|
L + 6.75%
|
|
|
N/A
(6)
|
|
09/2020
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Orthotics Holdings, Inc.
#
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.89%
|
|
02/2020
|
|
3,675
|
|
|
3,651
|
|
|
0.4
|
|
|
3,602
|
|
|||
Orthotics Holdings, Inc.
#(8)
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.89%
|
|
02/2020
|
|
602
|
|
|
599
|
|
|
0.1
|
|
|
590
|
|
|||
Orthotics Holdings, Inc.
(8)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(6)
|
|
02/2020
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Orthotics Holdings, Inc.
(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(6)
|
|
02/2020
|
|
—
|
|
|
(4
|
)
|
|
—
|
|
|
(2
|
)
|
|||
Team Technologies Acquisition Company
*
|
Senior loan
|
|
L + 5.00%
|
(c)(e)
|
|
6.75%
|
|
12/2018
|
|
259
|
|
|
258
|
|
|
—
|
|
|
259
|
|
|||
Team Technologies Acquisition Company
#
|
Senior loan
|
|
L + 5.50%
|
(c)(e)
|
|
7.25%
|
|
12/2018
|
|
48
|
|
|
48
|
|
|
—
|
|
|
48
|
|
|||
Team Technologies Acquisition Company
|
Senior loan
|
|
L + 5.00%
|
|
|
N/A
(6)
|
|
12/2018
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
|
|
|
|
|
|
|
|
|
|
29,675
|
|
|
29,472
|
|
|
3.3
|
|
|
29,584
|
|
|||
Personal, Food and Miscellaneous Services
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Captain D's, LLC
#
|
Senior loan
|
|
L + 4.50%
|
(a)
|
|
6.37%
|
|
12/2023
|
|
2,232
|
|
|
2,211
|
|
|
0.3
|
|
|
2,232
|
|
|||
Captain D's, LLC
|
Senior loan
|
|
L + 4.50%
|
(a)(e)
|
|
7.13%
|
|
12/2023
|
|
6
|
|
|
6
|
|
|
—
|
|
|
6
|
|
|||
Clarkson Eyecare LLC
#*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.56%
|
|
04/2021
|
|
17,103
|
|
|
16,941
|
|
|
2.0
|
|
|
16,931
|
|
|||
Clarkson Eyecare LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.56%
|
|
04/2021
|
|
8,486
|
|
|
8,434
|
|
|
1.0
|
|
|
8,401
|
|
|||
Clarkson Eyecare LLC
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.56%
|
|
04/2021
|
|
2,941
|
|
|
2,923
|
|
|
0.3
|
|
|
2,912
|
|
|||
Clarkson Eyecare LLC
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.56%
|
|
04/2021
|
|
2,504
|
|
|
2,489
|
|
|
0.3
|
|
|
2,479
|
|
|||
Clarkson Eyecare LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.56%
|
|
04/2021
|
|
713
|
|
|
670
|
|
|
0.1
|
|
|
706
|
|
|||
Clarkson Eyecare LLC
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.56%
|
|
04/2021
|
|
660
|
|
|
660
|
|
|
0.1
|
|
|
653
|
|
|||
Clarkson Eyecare LLC
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.56%
|
|
04/2021
|
|
487
|
|
|
479
|
|
|
0.1
|
|
|
482
|
|
|||
Clarkson Eyecare LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.56%
|
|
04/2021
|
|
277
|
|
|
273
|
|
|
—
|
|
|
271
|
|
|||
Community Veterinary Partners, LLC
|
One stop
|
|
L + 5.50%
|
(b)
|
|
7.50%
|
|
10/2021
|
|
1,954
|
|
|
1,954
|
|
|
0.2
|
|
|
1,954
|
|
|||
Community Veterinary Partners, LLC
*
|
One stop
|
|
L + 5.50%
|
(b)
|
|
7.50%
|
|
10/2021
|
|
100
|
|
|
98
|
|
|
—
|
|
|
100
|
|
|||
Community Veterinary Partners, LLC
(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A
(6)
|
|
10/2021
|
|
—
|
|
|
(32
|
)
|
|
—
|
|
|
—
|
|
|||
R.G. Barry Corporation
#
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.89%
|
|
09/2019
|
|
1,172
|
|
|
1,172
|
|
|
0.1
|
|
|
1,172
|
|
|||
Ruby Slipper Cafe LLC, The
|
One stop
|
|
L + 7.50%
|
(c)
|
|
9.24%
|
|
01/2023
|
|
60
|
|
|
59
|
|
|
—
|
|
|
59
|
|
|||
Ruby Slipper Cafe LLC, The
|
One stop
|
|
L + 7.50%
|
(c)
|
|
9.27%
|
|
01/2023
|
|
71
|
|
|
54
|
|
|
—
|
|
|
54
|
|
|||
Ruby Slipper Cafe LLC, The
|
One stop
|
|
L + 7.50%
|
|
|
N/A
(6)
|
|
01/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Southern Veterinary Partners, LLC
#
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.89%
|
|
06/2020
|
|
3,616
|
|
|
3,616
|
|
|
0.4
|
|
|
3,616
|
|
|||
Southern Veterinary Partners, LLC
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.89%
|
|
06/2020
|
|
1,921
|
|
|
1,890
|
|
|
0.2
|
|
|
1,921
|
|
|||
Southern Veterinary Partners, LLC
*
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.89%
|
|
06/2020
|
|
1,577
|
|
|
1,568
|
|
|
0.2
|
|
|
1,577
|
|
|||
Southern Veterinary Partners, LLC
#
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.89%
|
|
06/2020
|
|
1,042
|
|
|
1,042
|
|
|
0.1
|
|
|
1,042
|
|
|||
Southern Veterinary Partners, LLC
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.89%
|
|
06/2020
|
|
855
|
|
|
855
|
|
|
0.1
|
|
|
855
|
|
|||
Southern Veterinary Partners, LLC
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.89%
|
|
06/2020
|
|
779
|
|
|
736
|
|
|
0.1
|
|
|
779
|
|
|||
Southern Veterinary Partners, LLC
(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(6)
|
|
06/2020
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Vetcor Professional Practices LLC
#*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.56%
|
|
04/2021
|
|
27,137
|
|
|
26,803
|
|
|
3.1
|
|
|
27,137
|
|
|||
Vetcor Professional Practices LLC
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.56%
|
|
04/2021
|
|
6,560
|
|
|
6,462
|
|
|
0.8
|
|
|
6,560
|
|
|||
Vetcor Professional Practices LLC
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.56%
|
|
04/2021
|
|
2,348
|
|
|
2,318
|
|
|
0.3
|
|
|
2,348
|
|
|
Investment
Type
|
|
Spread
Above
Index
(1)
|
|
Interest
Rate
(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares (3) |
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value
(4)
|
||||||||
Equity investments
(11)(12)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Aerospace and Defense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Whitcraft LLC
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
7
|
|
|
$
|
688
|
|
|
0.1
|
|
%
|
$
|
801
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Automobile
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Grease Monkey International, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
448
|
|
|
448
|
|
|
0.1
|
|
|
448
|
|
|||
Polk Acquisition Corp.
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
4
|
|
|
401
|
|
|
—
|
|
|
240
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
849
|
|
|
0.1
|
|
|
688
|
|
||||
Beverage, Food and Tobacco
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Cafe Rio Holding, Inc.
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
3
|
|
|
283
|
|
|
—
|
|
|
283
|
|
|||
Global ID Corporation
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
2
|
|
|
240
|
|
|
—
|
|
|
298
|
|
|||
Hopdoddy Holdings, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
17
|
|
|
84
|
|
|
—
|
|
|
83
|
|
|||
Hopdoddy Holdings, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
8
|
|
|
24
|
|
|
—
|
|
|
24
|
|
|||
Purfoods, LLC
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
355
|
|
|
355
|
|
|
0.1
|
|
|
407
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
986
|
|
|
0.1
|
|
|
1,095
|
|
||||
Chemicals, Plastics and Rubber
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Flexan, LLC
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
40
|
|
|
—
|
|
|
50
|
|
|||
Flexan, LLC
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
40
|
|
|
—
|
|
|
50
|
|
||||
Diversified/Conglomerate Manufacturing
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Inventus Power, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
259
|
|
|
—
|
|
|
—
|
|
|||
Inventus Power, Inc.
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Reladyne, Inc.
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
242
|
|
|
—
|
|
|
393
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
501
|
|
|
—
|
|
|
393
|
|
||||
Diversified/Conglomerate Service
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Accela, Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
374
|
|
|
374
|
|
|
0.1
|
|
|
406
|
|
|||
Agility Recovery Solutions Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
30
|
|
|
152
|
|
|
—
|
|
|
201
|
|
|||
Apttus Corporation
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
21
|
|
|
319
|
|
|
0.1
|
|
|
319
|
|
|||
Apttus Corporation
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
41
|
|
|
235
|
|
|
—
|
|
|
235
|
|
|||
Bomgar Corporation
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
620
|
|
|
0.1
|
|
|
725
|
|
|||
Bomgar Corporation
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
415
|
|
|
6
|
|
|
0.1
|
|
|
1,127
|
|
|||
Confluence Technologies, Inc.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
106
|
|
|
—
|
|
|
106
|
|
|||
Connexin Software, Inc.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
84
|
|
|
84
|
|
|
—
|
|
|
84
|
|
|||
HealthcareSource HR, Inc.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
165
|
|
|
—
|
|
|
149
|
|
|||
Host Analytics, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
164
|
|
|
60
|
|
|
—
|
|
|
207
|
|
|||
Maverick Bidco Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
597
|
|
|
0.1
|
|
|
571
|
|
|||
MMan Acquisition Co.
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
334
|
|
|
334
|
|
|
0.1
|
|
|
333
|
|
|||
Net Health Acquisition Corp.
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
436
|
|
|
0.1
|
|
|
436
|
|
|||
Nexus Brands Group, Inc.
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
172
|
|
|
—
|
|
|
172
|
|
|||
Project Alpha Intermediate Holding, Inc.
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
399
|
|
|
0.1
|
|
|
370
|
|
|||
Project Alpha Intermediate Holding, Inc.
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
99
|
|
|
4
|
|
|
—
|
|
|
—
|
|
|||
Property Brands, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
34
|
|
|
345
|
|
|
0.1
|
|
|
345
|
|
|||
Quickbase, Inc.
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
615
|
|
|
260
|
|
|
0.1
|
|
|
866
|
|
|||
Switchfly, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
79
|
|
|
114
|
|
|
—
|
|
|
170
|
|
|||
Valant Medical Solutions, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
6
|
|
|
86
|
|
|
—
|
|
|
86
|
|
|||
Verisys Corporation
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
318
|
|
|
318
|
|
|
0.1
|
|
|
321
|
|
|||
Workforce Software, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1,309
|
|
|
1,309
|
|
|
0.2
|
|
|
1,538
|
|
|||
Xmatters, Inc. and Alarmpoint, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
232
|
|
|
212
|
|
|
—
|
|
|
243
|
|
|||
Xmatters, Inc. and Alarmpoint, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
41
|
|
|
33
|
|
|
—
|
|
|
18
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
6,740
|
|
|
1.3
|
|
|
9,028
|
|
||||
Ecological
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Pace Analytical Services, LLC
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
3
|
|
|
302
|
|
|
—
|
|
|
308
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Electronics
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Diligent Corporation
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
359
|
|
|
4
|
|
|
0.1
|
|
|
947
|
|
|||
Gamma Technologies, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
82
|
|
|
—
|
|
|
303
|
|
|
Investment
Type
|
|
Spread
Above
Index
(1)
|
|
Interest
Rate
(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares (3) |
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value
(4)
|
||||||||
Retail Stores
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Batteries Plus Holding Corporation
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
5
|
|
|
$
|
505
|
|
|
0.1
|
|
%
|
$
|
759
|
|
|
Cycle Gear, Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
8
|
|
|
111
|
|
|
—
|
|
|
160
|
|
|||
Elite Sportswear, L.P.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
70
|
|
|
—
|
|
|
35
|
|
|||
Feeders Supply Company, LLC
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
2
|
|
|
179
|
|
|
—
|
|
|
214
|
|
|||
Feeders Supply Company, LLC
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
—
|
|
|
—
|
|
|
98
|
|
|||
Pet Holdings ULC
(8)(10)
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
222
|
|
|
188
|
|
|
—
|
|
|
281
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
1,053
|
|
|
0.1
|
|
|
1,547
|
|
||||
Utilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
PowerPlan Holdings, Inc.
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
116
|
|
|
—
|
|
|
118
|
|
|||
PowerPlan Holdings, Inc.
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
68
|
|
|
1
|
|
|
0.1
|
|
|
318
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
117
|
|
|
0.1
|
|
|
436
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Total non-controlled/non-affiliate company equity investments
|
|
$
|
20,099
|
|
|
3.0
|
|
%
|
$
|
25,764
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Total non-controlled/non-affiliate company investments
|
|
$
|
1,495,656
|
|
|
$
|
1,496,480
|
|
|
174.3
|
|
%
|
$
|
1,511,140
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Controlled affiliate company investments
(14)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Equity investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Investment Funds and Vehicles
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
GCIC Senior Loan Fund LLC
(8)(15)
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
61,700
|
|
|
$
|
61,700
|
|
|
7.3
|
|
%
|
$
|
63,484
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Total controlled affiliate company equity investments
|
|
$
|
61,700
|
|
|
7.3
|
|
%
|
$
|
63,484
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Total controlled affiliate company investments
|
|
$
|
61,700
|
|
|
7.3
|
|
%
|
$
|
63,484
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Total investments
|
|
$
|
1,495,656
|
|
|
$
|
1,558,180
|
|
|
181.6
|
|
%
|
$
|
1,574,624
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Cash, cash equivalents, foreign currencies and restricted cash and cash equivalents
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Cash, foreign currencies and restricted cash
|
|
$
|
45,553
|
|
|
5.2
|
|
%
|
$
|
45,553
|
|
||||||||||||
Total cash, cash equivalents, foreign currencies and restricted cash and cash equivalents
|
|
$
|
45,553
|
|
|
5.2
|
|
%
|
$
|
45,553
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total investments and cash, cash equivalents, foreign currencies and restricted cash and cash equivalents
|
|
$
|
1,603,733
|
|
|
186.8
|
|
%
|
$
|
1,620,177
|
|
|
#
|
Denotes that all or a portion of the investment collateralizes the Credit Facility (as defined in Note 7).
|
*
|
Denotes that all or a portion of the investment secures the notes offered in the GCIC 2016 Debt Securitization (as defined in Note 7).
|
(1)
|
The majority of the investments bear interest at a rate that may be determined by reference to London Interbank Offered Rate (‘‘LIBOR’’ or ‘‘L’’) or Prime (‘‘P’’) and which reset daily, monthly, quarterly or semiannually. For each, the Company has provided the spread over LIBOR or Prime and the weighted average current interest rate in effect as of
March 31, 2018
. Certain investments are subject to a LIBOR or Prime interest rate floor. For fixed rate loans, a spread above a reference rate is not applicable. Listed below are the index rates as of March 29, 2018, which was the last business day of the period on which LIBOR was determined. The actual index rate for each loan listed may not be the applicable index rate outstanding as of March 31, 2018, as the loan may have priced or repriced based on an index rate prior to March 29, 2018.
|
(2)
|
For portfolio companies with multiple interest rate contracts, the interest rate shown is a weighted average current interest rate in effect as of
March 31, 2018
.
|
(3)
|
The total principal amount is presented for debt investments while the number of shares or units owned is presented for equity investments.
|
(4)
|
The fair value of the investment was valued using significant unobservable inputs. See Note
6
. Fair Value Measurements.
|
(5)
|
The negative fair value is the result of the capitalized discount on the loan or the unfunded commitment being valued below par. The negative amortized cost is the result of the capitalized discount being greater than the principal amount outstanding on the loan.
|
(6)
|
The entire commitment was unfunded as of
March 31, 2018
. As such, no interest is being earned on this investment. The investment may be subject to an unused facility fee.
|
(7)
|
Loan was on non-accrual status as of
March 31, 2018
, meaning that the Company has ceased recognizing interest income on the loan.
|
(8)
|
The investment is treated as a non-qualifying asset under Section 55(a) of the Investment Company Act of 1940, as amended (the ‘‘1940 Act’’). Under the 1940 Act, the Company may not acquire any non-qualifying asset unless, at the time the acquisition is made, qualifying assets represent at least 70% of the Company’s total assets. As of
March 31, 2018
, total non-qualifying assets at fair value represented 6.5% of the Company’s assets calculated in accordance with the 1940 Act.
|
(9)
|
Loan is denominated in Great Britain pounds and is translated into U.S. dollars as of the valuation date.
|
(10)
|
The headquarters of this portfolio company is located in Canada.
|
(11)
|
Equity investments are non-income producing securities unless otherwise noted.
|
(12)
|
Ownership of certain equity investments may occur through a holding company or partnership.
|
(13)
|
The Company holds an equity investment that entitles it to receive preferential dividends.
|
Portfolio Company
|
|
Fair value as of September 30, 2017
|
|
Purchases
(cost) |
|
Redemptions
(cost) |
|
Discount
accretion |
|
Net change in unrealized
gain/(loss) |
|
Fair value as of March 31, 2018
|
|
Net realized gain/(loss)
|
|
Interest and
fee income |
|
Dividend
income |
||||||||||||||||||
GCIC Senior Loan Fund LLC
(f)
|
|
$
|
50,104
|
|
|
$
|
11,900
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,480
|
|
|
$
|
63,484
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
2,424
|
|
Total Controlled Affiliates
|
|
$
|
50,104
|
|
|
$
|
11,900
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,480
|
|
|
$
|
63,484
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
2,424
|
|
(15)
|
The Company receives quarterly profit distributions from its equity investment in GCIC Senior Loan Fund LLC. See Note 5.
|
|
Investment
Type
|
|
Spread
Above
Index
(1)
|
|
Interest
Rate
(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares (3) |
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value
(15)
|
|||||||||
Investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Non-controlled/non-affiliate company investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Debt investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Aerospace and Defense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
ILC Dover, LP
|
One stop
|
|
L + 9.00%
|
(a)
|
|
8.24% cash/2.00% PIK
|
|
03/2020
|
|
$
|
2,355
|
|
|
$
|
2,316
|
|
|
0.3
|
|
%
|
$
|
2,355
|
|
|
ILC Dover, LP
|
One stop
|
|
L + 9.00%
|
(a)(c)
|
|
8.24% cash/2.00% PIK
|
|
03/2019
|
|
107
|
|
|
105
|
|
|
—
|
|
|
107
|
|
||||
NTS Technical Systems
*
|
One stop
|
|
L + 6.25%
|
(a)
|
|
7.49%
|
|
06/2021
|
|
3,250
|
|
|
3,205
|
|
|
0.5
|
|
|
3,250
|
|
||||
NTS Technical Systems
(4)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(5)
|
|
06/2021
|
|
—
|
|
|
(11
|
)
|
|
—
|
|
|
—
|
|
||||
NTS Technical Systems
(4)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(5)
|
|
06/2021
|
|
—
|
|
|
(15
|
)
|
|
—
|
|
|
—
|
|
||||
Tresys Technology Holdings, Inc.
(6)
|
One stop
|
|
L + 6.75%
|
(c)
|
|
8.08%
|
|
12/2017
|
|
53
|
|
|
28
|
|
|
—
|
|
|
16
|
|
||||
Tresys Technology Holdings, Inc.
(6)
|
One stop
|
|
L + 6.75%
|
(c)
|
|
8.06%
|
|
12/2017
|
|
9
|
|
|
9
|
|
|
—
|
|
|
9
|
|
||||
Tronair Parent, Inc.
#
|
Senior loan
|
|
L + 4.75%
|
(c)(e)
|
|
6.06%
|
|
09/2023
|
|
191
|
|
|
189
|
|
|
—
|
|
|
191
|
|
||||
Tronair Parent, Inc.
|
Senior loan
|
|
L + 4.50%
|
(c)
|
|
5.81%
|
|
09/2021
|
|
32
|
|
|
31
|
|
|
—
|
|
|
31
|
|
||||
Whitcraft LLC
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
04/2023
|
|
16,306
|
|
|
16,081
|
|
|
2.1
|
|
|
16,306
|
|
||||
Whitcraft LLC
|
One stop
|
|
P + 5.25%
|
(e)
|
|
9.50%
|
|
04/2023
|
|
17
|
|
|
16
|
|
|
—
|
|
|
17
|
|
||||
Whitcraft LLC
(4)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(5)
|
|
04/2023
|
|
—
|
|
|
(103
|
)
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
22,320
|
|
|
21,851
|
|
|
2.9
|
|
|
22,282
|
|
||||
Automobile
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Dent Wizard International Corporation
*
|
Senior loan
|
|
L + 4.75%
|
(a)
|
|
5.98%
|
|
04/2020
|
|
2,183
|
|
|
2,171
|
|
|
0.3
|
|
|
2,183
|
|
||||
OEConnection LLC
#*
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
6.33%
|
|
06/2022
|
|
11,055
|
|
|
10,829
|
|
|
1.4
|
|
|
11,097
|
|
||||
OEConnection LLC
#*
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.08%
|
|
06/2023
|
|
5,853
|
|
|
5,797
|
|
|
0.8
|
|
|
5,815
|
|
||||
OEConnection LLC
(4)
|
Senior loan
|
|
L + 5.00%
|
|
|
N/A
(5)
|
|
06/2021
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Polk Acquisition Corp.
*
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.24%
|
|
06/2022
|
|
4,805
|
|
|
4,786
|
|
|
0.6
|
|
|
4,708
|
|
||||
T5 Merger Corporation
#*
|
One stop
|
|
L + 6.25%
|
(a)
|
|
7.49%
|
|
03/2022
|
|
30,058
|
|
|
29,590
|
|
|
3.9
|
|
|
30,058
|
|
||||
T5 Merger Corporation
|
One stop
|
|
L + 6.25%
|
(a)
|
|
7.48%
|
|
03/2022
|
|
3,496
|
|
|
3,465
|
|
|
0.5
|
|
|
3,496
|
|
||||
T5 Merger Corporation
|
One stop
|
|
L + 6.25%
|
(a)
|
|
7.48%
|
|
03/2022
|
|
1,104
|
|
|
1,094
|
|
|
0.1
|
|
|
1,104
|
|
||||
T5 Merger Corporation
|
One stop
|
|
L + 6.50%
|
(a)
|
|
7.74%
|
|
03/2022
|
|
8
|
|
|
6
|
|
|
—
|
|
|
8
|
|
||||
|
|
|
|
|
|
|
|
|
|
58,562
|
|
|
57,737
|
|
|
7.6
|
|
|
58,469
|
|
||||
Beverage, Food and Tobacco
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Abita Brewing Co., L.L.C.
#
|
One stop
|
|
L + 5.75%
|
(a)
|
|
6.99%
|
|
04/2021
|
|
3,747
|
|
|
3,717
|
|
|
0.5
|
|
|
3,634
|
|
||||
Abita Brewing Co., L.L.C.
(4)
|
One stop
|
|
L + 5.75%
|
(c)
|
|
N/A
(5)
|
|
04/2021
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(2
|
)
|
||||
ABP Corporation
*
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.07%
|
|
09/2018
|
|
598
|
|
|
598
|
|
|
0.1
|
|
|
598
|
|
||||
ABP Corporation
|
Senior loan
|
|
P + 3.50%
|
(e)
|
|
7.75%
|
|
09/2018
|
|
43
|
|
|
43
|
|
|
—
|
|
|
43
|
|
||||
Benihana, Inc.
#*
|
One stop
|
|
L + 7.00%
|
(a)(c)
|
|
8.32%
|
|
01/2019
|
|
319
|
|
|
319
|
|
|
0.1
|
|
|
316
|
|
||||
Benihana, Inc.
|
One stop
|
|
L + 7.00%
|
(c)(e)
|
|
9.16%
|
|
07/2018
|
|
34
|
|
|
34
|
|
|
—
|
|
|
34
|
|
||||
C. J. Foods, Inc.
#*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
05/2019
|
|
12,670
|
|
|
12,610
|
|
|
1.7
|
|
|
12,670
|
|
||||
C. J. Foods, Inc.
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
05/2019
|
|
1,597
|
|
|
1,594
|
|
|
0.2
|
|
|
1,597
|
|
||||
C. J. Foods, Inc.
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.56%
|
|
05/2019
|
|
315
|
|
|
312
|
|
|
0.1
|
|
|
315
|
|
||||
Cafe Rio Holding, Inc.
#
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.08%
|
|
09/2023
|
|
8,711
|
|
|
8,560
|
|
|
1.1
|
|
|
8,624
|
|
||||
Cafe Rio Holding, Inc.
(4)
|
One stop
|
|
L + 5.75%
|
|
|
N/A
(5)
|
|
09/2023
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
(1
|
)
|
||||
Cafe Rio Holding, Inc.
(4)
|
One stop
|
|
L + 5.75%
|
|
|
N/A
(5)
|
|
09/2023
|
|
—
|
|
|
(85
|
)
|
|
—
|
|
|
(49
|
)
|
||||
Firebirds International, LLC
*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.06%
|
|
05/2018
|
|
3,296
|
|
|
3,289
|
|
|
0.4
|
|
|
3,296
|
|
||||
Firebirds International, LLC
*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.06%
|
|
05/2018
|
|
926
|
|
|
924
|
|
|
0.1
|
|
|
926
|
|
||||
Firebirds International, LLC
*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.06%
|
|
12/2018
|
|
298
|
|
|
297
|
|
|
—
|
|
|
298
|
|
||||
Firebirds International, LLC
(4)
|
One stop
|
|
L + 5.75%
|
|
|
N/A
(5)
|
|
05/2018
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Firebirds International, LLC
(4)
|
One stop
|
|
L + 5.75%
|
|
|
N/A
(5)
|
|
12/2018
|
|
—
|
|
|
(4
|
)
|
|
—
|
|
|
—
|
|
||||
FWR Holding Corporation
*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.40%
|
|
08/2023
|
|
4,079
|
|
|
4,019
|
|
|
0.5
|
|
|
4,038
|
|
||||
FWR Holding Corporation
|
One stop
|
|
L + 6.00%
|
(a)(c)
|
|
7.28%
|
|
08/2023
|
|
18
|
|
|
17
|
|
|
—
|
|
|
18
|
|
||||
FWR Holding Corporation
(4)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(5)
|
|
08/2023
|
|
—
|
|
|
(42
|
)
|
|
—
|
|
|
(29
|
)
|
||||
Global Franchise Group, LLC
*
|
Senior loan
|
|
L + 5.75%
|
(c)
|
|
7.07%
|
|
12/2019
|
|
4,473
|
|
|
4,429
|
|
|
0.6
|
|
|
4,428
|
|
||||
Global Franchise Group, LLC
|
Senior loan
|
|
L + 5.75%
|
|
|
N/A
(5)
|
|
12/2019
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Hopdoddy Holdings, LLC
|
One stop
|
|
L + 8.00%
|
(a)
|
|
9.24%
|
|
08/2020
|
|
421
|
|
|
419
|
|
|
0.1
|
|
|
421
|
|
||||
Hopdoddy Holdings, LLC
|
One stop
|
|
L + 8.00%
|
(a)
|
|
9.24%
|
|
08/2020
|
|
172
|
|
|
171
|
|
|
—
|
|
|
172
|
|
|
Investment
Type
|
|
Spread
Above
Index
(1)
|
|
Interest
Rate
(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares (3) |
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value
(15)
|
|||||||||
Beverage, Food and Tobacco - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Hopdoddy Holdings, LLC
|
One stop
|
|
L + 8.00%
|
|
|
N/A
(5)
|
|
08/2020
|
|
$
|
—
|
|
|
$
|
—
|
|
|
—
|
|
%
|
$
|
—
|
|
|
Julio & Sons Company
*
|
One stop
|
|
L + 5.50%
|
(a)(e)
|
|
6.74%
|
|
12/2018
|
|
936
|
|
|
933
|
|
|
0.1
|
|
|
936
|
|
||||
Julio & Sons Company
|
One stop
|
|
L + 5.50%
|
(a)(e)
|
|
6.74%
|
|
12/2018
|
|
308
|
|
|
308
|
|
|
0.1
|
|
|
308
|
|
||||
Julio & Sons Company
|
One stop
|
|
L + 5.50%
|
(a)(e)
|
|
6.74%
|
|
12/2018
|
|
114
|
|
|
113
|
|
|
—
|
|
|
114
|
|
||||
Julio & Sons Company
(4)
|
One stop
|
|
L + 5.50%
|
|
|
N/A
(5)
|
|
12/2018
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
Mid-America Pet Food, L.L.C.
#
|
One stop
|
|
L + 5.50%
|
(c)
|
|
6.83%
|
|
12/2021
|
|
6,395
|
|
|
6,314
|
|
|
0.8
|
|
|
6,395
|
|
||||
Mid-America Pet Food, L.L.C.
(4)
|
One stop
|
|
L + 5.50%
|
|
|
N/A
(5)
|
|
12/2021
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
NBC Intermediate, LLC
#
|
Senior loan
|
|
L + 4.50%
|
(a)
|
|
5.74%
|
|
09/2023
|
|
2,899
|
|
|
2,870
|
|
|
0.4
|
|
|
2,870
|
|
||||
NBC Intermediate, LLC
|
Senior loan
|
|
L + 4.50%
|
|
|
N/A
(5)
|
|
09/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
P&P Food Safety US Acquisition, Inc.
#
|
One stop
|
|
L + 6.50%
|
(c)
|
|
7.82%
|
|
11/2021
|
|
4,092
|
|
|
4,050
|
|
|
0.5
|
|
|
4,092
|
|
||||
P&P Food Safety US Acquisition, Inc.
|
One stop
|
|
P + 5.25%
|
(e)
|
|
9.50%
|
|
11/2021
|
|
13
|
|
|
13
|
|
|
—
|
|
|
13
|
|
||||
Purfoods, LLC
#*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.57%
|
|
05/2021
|
|
7,967
|
|
|
7,880
|
|
|
1.0
|
|
|
7,967
|
|
||||
Purfoods, LLC
|
One stop
|
|
N/A
|
|
|
7.00% PIK
|
|
05/2026
|
|
101
|
|
|
101
|
|
|
—
|
|
|
104
|
|
||||
Purfoods, LLC
|
One stop
|
|
L + 6.25%
|
(a)(c)
|
|
7.55%
|
|
05/2021
|
|
70
|
|
|
69
|
|
|
—
|
|
|
70
|
|
||||
Purfoods, LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
05/2021
|
|
15
|
|
|
15
|
|
|
—
|
|
|
15
|
|
||||
Purfoods, LLC
|
One stop
|
|
L + 6.25%
|
(a)
|
|
7.49%
|
|
05/2021
|
|
15
|
|
|
15
|
|
|
—
|
|
|
15
|
|
||||
Purfoods, LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
05/2021
|
|
14
|
|
|
14
|
|
|
—
|
|
|
14
|
|
||||
Purfoods, LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
05/2021
|
|
11
|
|
|
10
|
|
|
—
|
|
|
11
|
|
||||
Purfoods, LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
05/2021
|
|
10
|
|
|
10
|
|
|
—
|
|
|
10
|
|
||||
Smashburger Finance LLC
*
|
Senior loan
|
|
L + 5.50%
|
(c)
|
|
6.83%
|
|
05/2018
|
|
482
|
|
|
482
|
|
|
0.1
|
|
|
420
|
|
||||
Smashburger Finance LLC
(4)
|
Senior loan
|
|
L + 5.50%
|
|
|
N/A
(5)
|
|
05/2018
|
|
—
|
|
|
(5
|
)
|
|
—
|
|
|
—
|
|
||||
Surfside Coffee Company LLC
*
|
One stop
|
|
L + 5.25%
|
(c)
|
|
6.58%
|
|
06/2020
|
|
2,327
|
|
|
2,314
|
|
|
0.3
|
|
|
2,327
|
|
||||
Surfside Coffee Company LLC
|
One stop
|
|
L + 5.25%
|
(c)
|
|
6.58%
|
|
06/2020
|
|
176
|
|
|
175
|
|
|
—
|
|
|
176
|
|
||||
Surfside Coffee Company LLC
|
One stop
|
|
L + 5.25%
|
(c)
|
|
6.57%
|
|
06/2020
|
|
30
|
|
|
30
|
|
|
—
|
|
|
30
|
|
||||
Tate's Bake Shop, Inc.
*
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
6.33%
|
|
08/2019
|
|
142
|
|
|
142
|
|
|
—
|
|
|
142
|
|
||||
Uinta Brewing Company
#
|
One stop
|
|
L + 8.50%
|
(a)
|
|
9.74%
|
|
08/2019
|
|
900
|
|
|
900
|
|
|
0.1
|
|
|
873
|
|
||||
Uinta Brewing Company
|
One stop
|
|
L + 8.50%
|
(a)
|
|
9.74%
|
|
08/2019
|
|
130
|
|
|
129
|
|
|
—
|
|
|
125
|
|
||||
|
|
|
|
|
|
|
|
|
|
68,864
|
|
|
68,096
|
|
|
8.9
|
|
|
68,374
|
|
||||
Broadcasting and Entertainment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
TouchTunes Interactive Networks, Inc.
*
|
Senior loan
|
|
L + 4.75%
|
(a)
|
|
5.99%
|
|
05/2021
|
|
690
|
|
|
688
|
|
|
0.1
|
|
|
694
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Building and Real Estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Brooks Equipment Company, LLC
*
|
One stop
|
|
L + 5.00%
|
(b)(c)
|
|
6.32%
|
|
08/2020
|
|
5,835
|
|
|
5,835
|
|
|
0.8
|
|
|
5,835
|
|
||||
Brooks Equipment Company, LLC
*
|
One stop
|
|
L + 5.00%
|
(c)
|
|
6.32%
|
|
08/2020
|
|
1,442
|
|
|
1,433
|
|
|
0.2
|
|
|
1,442
|
|
||||
Brooks Equipment Company, LLC
|
One stop
|
|
L + 5.00%
|
(a)
|
|
6.24%
|
|
08/2020
|
|
238
|
|
|
238
|
|
|
—
|
|
|
238
|
|
||||
Jensen Hughes, Inc.
#
|
Senior loan
|
|
L + 5.00%
|
|
|
6.45%
|
|
12/2021
|
|
132
|
|
|
131
|
|
|
—
|
|
|
132
|
|
||||
MRI Software LLC
#*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.33%
|
|
06/2023
|
|
18,829
|
|
|
18,513
|
|
|
2.4
|
|
|
18,641
|
|
||||
MRI Software LLC
#
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.33%
|
|
06/2023
|
|
17,435
|
|
|
17,261
|
|
|
2.2
|
|
|
17,261
|
|
||||
MRI Software LLC
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.32%
|
|
06/2023
|
|
3,130
|
|
|
3,115
|
|
|
0.4
|
|
|
3,099
|
|
||||
MRI Software LLC
(4)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(5)
|
|
06/2023
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
(2
|
)
|
||||
MRI Software LLC
(4)
|
One stop
|
|
L + 6.00%
|
(c)
|
|
N/A
(5)
|
|
06/2023
|
|
—
|
|
|
(150
|
)
|
|
—
|
|
|
(94
|
)
|
||||
Paradigm DKD Group, LLC
#
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.20%
|
|
11/2018
|
|
2,137
|
|
|
2,123
|
|
|
0.3
|
|
|
2,137
|
|
||||
Paradigm DKD Group, LLC
|
Senior loan
|
|
L + 4.75%
|
(c)(e)
|
|
6.18%
|
|
11/2018
|
|
644
|
|
|
639
|
|
|
0.1
|
|
|
644
|
|
||||
|
|
|
|
|
|
|
|
|
|
49,822
|
|
|
49,135
|
|
|
6.4
|
|
|
49,333
|
|
||||
Chemicals, Plastics and Rubber
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Flexan, LLC
*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.08%
|
|
02/2020
|
|
1,041
|
|
|
1,034
|
|
|
0.1
|
|
|
1,041
|
|
||||
Flexan, LLC
|
One stop
|
|
P + 4.50%
|
(e)
|
|
8.75%
|
|
02/2020
|
|
2
|
|
|
1
|
|
|
—
|
|
|
2
|
|
||||
|
|
|
|
|
|
|
|
|
|
1,043
|
|
|
1,035
|
|
|
0.1
|
|
|
1,043
|
|
||||
Diversified/Conglomerate Manufacturing
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Chase Industries, Inc.
#*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.05%
|
|
09/2020
|
|
13,409
|
|
|
13,341
|
|
|
1.8
|
|
|
13,409
|
|
||||
Chase Industries, Inc.
*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.05%
|
|
09/2020
|
|
1,541
|
|
|
1,541
|
|
|
0.2
|
|
|
1,541
|
|
||||
Chase Industries, Inc.
|
One stop
|
|
L + 5.75%
|
(a)
|
|
6.99%
|
|
09/2020
|
|
105
|
|
|
105
|
|
|
—
|
|
|
105
|
|
||||
Inventus Power, Inc.
#
|
One stop
|
|
L + 6.50%
|
(a)
|
|
7.74%
|
|
04/2020
|
|
10,147
|
|
|
10,088
|
|
|
1.2
|
|
|
9,132
|
|
|
Investment
Type
|
|
Spread
Above
Index
(1)
|
|
Interest
Rate
(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares (3) |
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value
(15)
|
|||||||||
Diversified/Conglomerate Manufacturing - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Inventus Power, Inc.
|
One stop
|
|
L + 6.50%
|
(a)
|
|
7.74%
|
|
04/2020
|
|
$
|
312
|
|
|
$
|
309
|
|
|
—
|
|
%
|
$
|
247
|
|
|
Onicon Incorporated
*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.33%
|
|
04/2020
|
|
176
|
|
|
175
|
|
|
—
|
|
|
176
|
|
||||
Onicon Incorporated
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(5)
|
|
04/2020
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
PetroChoice Holdings, Inc.
*
|
Senior loan
|
|
L + 5.00%
|
(b)
|
|
6.28%
|
|
08/2022
|
|
1,628
|
|
|
1,590
|
|
|
0.2
|
|
|
1,628
|
|
||||
Reladyne, Inc.
#*
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.24%
|
|
07/2022
|
|
16,836
|
|
|
16,599
|
|
|
2.2
|
|
|
16,668
|
|
||||
Reladyne, Inc.
(4)
|
Senior loan
|
|
L + 5.00%
|
|
|
N/A
(5)
|
|
07/2022
|
|
—
|
|
|
(21
|
)
|
|
—
|
|
|
(17
|
)
|
||||
Reladyne, Inc.
(4)
|
Senior loan
|
|
L + 5.00%
|
|
|
N/A
(5)
|
|
07/2022
|
|
—
|
|
|
(52
|
)
|
|
—
|
|
|
(54
|
)
|
||||
Sunless Merger Sub, Inc.
#
|
Senior loan
|
|
L + 5.00%
|
(a)(e)
|
|
6.27%
|
|
07/2019
|
|
289
|
|
|
260
|
|
|
—
|
|
|
289
|
|
||||
Sunless Merger Sub, Inc.
|
Senior loan
|
|
P + 3.75%
|
(e)
|
|
8.00%
|
|
07/2019
|
|
65
|
|
|
63
|
|
|
—
|
|
|
65
|
|
||||
|
|
|
|
|
|
|
|
|
|
44,508
|
|
|
43,998
|
|
|
5.6
|
|
|
43,189
|
|
||||
Diversified/Conglomerate Service
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Accela, Inc.
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
09/2023
|
|
7,401
|
|
|
7,291
|
|
|
0.9
|
|
|
7,327
|
|
||||
Accela, Inc.
|
One stop
|
|
P + 5.25%
|
(e)
|
|
9.50%
|
|
09/2023
|
|
1
|
|
|
—
|
|
|
—
|
|
|
1
|
|
||||
Actiance, Inc.
|
One stop
|
|
L + 9.00%
|
(a)
|
|
10.24%
|
|
10/2019
|
|
1,918
|
|
|
1,869
|
|
|
0.2
|
|
|
1,918
|
|
||||
Actiance, Inc.
|
One stop
|
|
L + 9.00%
|
(a)
|
|
10.24%
|
|
10/2019
|
|
20
|
|
|
20
|
|
|
—
|
|
|
20
|
|
||||
Agility Recovery Solutions Inc.
*
|
One stop
|
|
L + 6.50%
|
(c)
|
|
7.81%
|
|
03/2020
|
|
6,205
|
|
|
6,159
|
|
|
0.8
|
|
|
6,205
|
|
||||
Agility Recovery Solutions Inc.
(4)
|
One stop
|
|
L + 6.50%
|
|
|
N/A
(5)
|
|
03/2020
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
Anaqua, Inc.
#
|
One stop
|
|
L + 6.50%
|
(c)
|
|
7.81%
|
|
07/2022
|
|
8,940
|
|
|
8,811
|
|
|
1.2
|
|
|
8,850
|
|
||||
Anaqua, Inc.
(4)
|
One stop
|
|
L + 6.50%
|
|
|
N/A
(5)
|
|
07/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(1
|
)
|
||||
Bomgar Corporation
#*
|
One stop
|
|
L + 7.50%
|
(c)
|
|
8.83%
|
|
06/2022
|
|
28,354
|
|
|
27,904
|
|
|
3.7
|
|
|
28,354
|
|
||||
Bomgar Corporation
(4)
|
One stop
|
|
L + 7.50%
|
|
|
N/A
(5)
|
|
06/2022
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
Clearwater Analytics, LLC
#*
|
One stop
|
|
L + 7.50%
|
(a)
|
|
8.74%
|
|
09/2022
|
|
8,913
|
|
|
8,784
|
|
|
1.2
|
|
|
8,913
|
|
||||
Clearwater Analytics, LLC
|
One stop
|
|
L + 7.50%
|
(a)
|
|
8.74%
|
|
09/2022
|
|
10
|
|
|
8
|
|
|
—
|
|
|
10
|
|
||||
Daxko Acquisition Corporation
#
|
One stop
|
|
L + 6.50%
|
(a)
|
|
7.74%
|
|
09/2022
|
|
8,403
|
|
|
8,298
|
|
|
1.1
|
|
|
8,403
|
|
||||
Daxko Acquisition Corporation
|
One stop
|
|
L + 6.50%
|
|
|
N/A
(5)
|
|
09/2022
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
DISA Holdings Acquisition Subsidiary Corp.
*
|
Senior loan
|
|
L + 4.25%
|
(c)
|
|
5.55%
|
|
12/2020
|
|
1,324
|
|
|
1,316
|
|
|
0.2
|
|
|
1,324
|
|
||||
DISA Holdings Acquisition Subsidiary Corp.
#
|
Senior loan
|
|
L + 4.25%
|
(c)
|
|
5.57%
|
|
12/2020
|
|
129
|
|
|
128
|
|
|
—
|
|
|
129
|
|
||||
DISA Holdings Acquisition Subsidiary Corp.
(4)
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A
(5)
|
|
12/2020
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
EGD Security Systems, LLC
#*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.55%
|
|
06/2022
|
|
10,372
|
|
|
10,270
|
|
|
1.4
|
|
|
10,372
|
|
||||
EGD Security Systems, LLC
*
|
One stop
|
|
L + 6.25%
|
(a)
|
|
7.49%
|
|
06/2022
|
|
98
|
|
|
97
|
|
|
—
|
|
|
98
|
|
||||
EGD Security Systems, LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.55%
|
|
06/2022
|
|
35
|
|
|
34
|
|
|
—
|
|
|
35
|
|
||||
EGD Security Systems, LLC
(4)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(5)
|
|
06/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
HealthcareSource HR, Inc.
#*
|
One stop
|
|
L + 6.75%
|
(c)
|
|
8.08%
|
|
05/2020
|
|
9,790
|
|
|
9,685
|
|
|
1.3
|
|
|
9,790
|
|
||||
HealthcareSource HR, Inc.
(4)
|
One stop
|
|
L + 6.75%
|
|
|
N/A
(5)
|
|
05/2020
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Host Analytics, Inc.
|
One stop
|
|
N/A
|
|
|
8.50% cash/2.25% PIK
|
|
08/2021
|
|
1,381
|
|
|
1,368
|
|
|
0.2
|
|
|
1,381
|
|
||||
Host Analytics, Inc.
|
One stop
|
|
N/A
|
|
|
8.50% cash/2.25% PIK
|
|
08/2021
|
|
1,157
|
|
|
1,101
|
|
|
0.2
|
|
|
1,157
|
|
||||
Host Analytics, Inc.
(4)
|
One stop
|
|
N/A
|
|
|
N/A
(5)
|
|
08/2021
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
—
|
|
||||
III US Holdings, LLC
(4)
|
One stop
|
|
L + 6.50%
|
|
|
N/A
(5)
|
|
09/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Integration Appliance, Inc.
|
One stop
|
|
L + 8.25%
|
(c)
|
|
9.57%
|
|
09/2020
|
|
1,550
|
|
|
1,540
|
|
|
0.2
|
|
|
1,550
|
|
||||
Integration Appliance, Inc.
|
One stop
|
|
L + 8.25%
|
(c)
|
|
9.57%
|
|
09/2020
|
|
124
|
|
|
123
|
|
|
—
|
|
|
124
|
|
||||
Integration Appliance, Inc.
|
One stop
|
|
L + 8.25%
|
(c)
|
|
9.57%
|
|
09/2020
|
|
25
|
|
|
25
|
|
|
—
|
|
|
25
|
|
||||
Maverick Bidco Inc.
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.56%
|
|
04/2023
|
|
23,041
|
|
|
22,606
|
|
|
3.0
|
|
|
23,041
|
|
||||
Maverick Bidco Inc.
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.57%
|
|
04/2023
|
|
27
|
|
|
25
|
|
|
—
|
|
|
27
|
|
||||
Maverick Bidco Inc.
(4)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(5)
|
|
04/2023
|
|
—
|
|
|
(31
|
)
|
|
—
|
|
|
—
|
|
||||
MMan Acquisition Co.
#
|
One stop
|
|
L + 6.00%
|
(b)
|
|
7.26%
|
|
08/2023
|
|
12,513
|
|
|
12,330
|
|
|
1.6
|
|
|
12,388
|
|
||||
MMan Acquisition Co.
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.33%
|
|
08/2023
|
|
10
|
|
|
9
|
|
|
—
|
|
|
9
|
|
||||
Netsmart Technologies, Inc.
#
|
Senior loan
|
|
L + 4.50%
|
(c)
|
|
5.83%
|
|
04/2023
|
|
1,633
|
|
|
1,620
|
|
|
0.2
|
|
|
1,655
|
|
||||
Netsmart Technologies, Inc.
(4)
|
Senior loan
|
|
L + 4.75%
|
|
|
N/A
(5)
|
|
04/2023
|
|
—
|
|
|
(8
|
)
|
|
—
|
|
|
—
|
|
||||
PT Intermediate Holdings III, LLC
#*
|
One stop
|
|
L + 6.50%
|
(a)
|
|
7.74%
|
|
06/2022
|
|
23,273
|
|
|
22,997
|
|
|
3.0
|
|
|
23,273
|
|
||||
PT Intermediate Holdings III, LLC
#
|
One stop
|
|
L + 6.50%
|
(a)
|
|
7.74%
|
|
06/2022
|
|
2,298
|
|
|
2,278
|
|
|
0.3
|
|
|
2,298
|
|
||||
PT Intermediate Holdings III, LLC
|
One stop
|
|
L + 6.50%
|
(a)(e)
|
|
7.90%
|
|
06/2022
|
|
200
|
|
|
197
|
|
|
—
|
|
|
200
|
|
||||
Quickbase, Inc.
#
|
One stop
|
|
L + 7.50%
|
(c)
|
|
8.83%
|
|
04/2022
|
|
20,977
|
|
|
20,646
|
|
|
2.7
|
|
|
20,977
|
|
||||
Quickbase, Inc.
(4)
|
One stop
|
|
L + 7.50%
|
|
|
N/A
(5)
|
|
04/2022
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
|
Investment
Type
|
|
Spread
Above
Index
(1)
|
|
Interest
Rate
(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares (3) |
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value
(15)
|
|||||||||
Diversified/Conglomerate Service - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Saba Software, Inc.
#
|
One stop
|
|
L + 5.50%
|
(a)
|
|
6.74%
|
|
05/2023
|
|
$
|
26,505
|
|
|
$
|
26,074
|
|
|
3.5
|
|
%
|
$
|
26,505
|
|
|
Saba Software, Inc.
(4)
|
One stop
|
|
L + 5.50%
|
|
|
N/A
(5)
|
|
05/2023
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
Saldon Holdings, Inc.
*
|
Senior loan
|
|
L + 4.50%
|
(a)(b)
|
|
5.77%
|
|
09/2022
|
|
647
|
|
|
639
|
|
|
0.1
|
|
|
639
|
|
||||
Secure-24, LLC
*
|
One stop
|
|
L + 5.00%
|
(c)
|
|
6.33%
|
|
08/2019
|
|
1,792
|
|
|
1,783
|
|
|
0.2
|
|
|
1,792
|
|
||||
Secure-24, LLC
|
One stop
|
|
L + 5.00%
|
|
|
N/A
(5)
|
|
08/2019
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Severin Acquisition, LLC
#
|
Senior loan
|
|
L + 4.75%
|
(a)
|
|
5.99%
|
|
07/2021
|
|
8,546
|
|
|
8,437
|
|
|
1.1
|
|
|
8,505
|
|
||||
Severin Acquisition, LLC
#
|
Senior loan
|
|
L + 5.38%
|
(a)
|
|
6.62%
|
|
07/2021
|
|
1,427
|
|
|
1,411
|
|
|
0.2
|
|
|
1,450
|
|
||||
Severin Acquisition, LLC
#
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.24%
|
|
07/2021
|
|
1,271
|
|
|
1,256
|
|
|
0.2
|
|
|
1,275
|
|
||||
Severin Acquisition, LLC
#
|
Senior loan
|
|
L + 5.38%
|
(a)
|
|
6.62%
|
|
07/2021
|
|
971
|
|
|
960
|
|
|
0.1
|
|
|
987
|
|
||||
Severin Acquisition, LLC
*
|
Senior loan
|
|
L + 4.88%
|
(a)
|
|
6.12%
|
|
07/2021
|
|
313
|
|
|
310
|
|
|
—
|
|
|
313
|
|
||||
Severin Acquisition, LLC
(4)
|
Senior loan
|
|
L + 4.75%
|
|
|
N/A
(5)
|
|
07/2021
|
|
—
|
|
|
(7
|
)
|
|
—
|
|
|
—
|
|
||||
Switchfly, Inc.
|
One stop
|
|
L + 10.00%
|
(c)
|
|
9.80% cash/1.50% PIK
|
|
04/2020
|
|
3,204
|
|
|
3,082
|
|
|
0.4
|
|
|
3,204
|
|
||||
Switchfly, Inc.
|
One stop
|
|
L + 10.00%
|
|
|
N/A
(5)
|
|
04/2020
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Telesoft, LLC#
|
One stop
|
|
L + 5.50%
|
(c)
|
|
6.81%
|
|
07/2022
|
|
5,339
|
|
|
5,288
|
|
|
0.7
|
|
|
5,286
|
|
||||
Telesoft, LLC
(4)
|
One stop
|
|
L + 5.50%
|
|
|
N/A
(5)
|
|
07/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(1
|
)
|
||||
Trintech, Inc.
#*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.31%
|
|
10/2021
|
|
9,736
|
|
|
9,648
|
|
|
1.3
|
|
|
9,736
|
|
||||
Trintech, Inc.
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(5)
|
|
10/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Vendavo, Inc.
|
One stop
|
|
L + 8.50%
|
(c)
|
|
9.80%
|
|
10/2019
|
|
4,331
|
|
|
4,307
|
|
|
0.6
|
|
|
4,331
|
|
||||
Vendavo, Inc.
(4)
|
One stop
|
|
L + 8.50%
|
|
|
N/A
(5)
|
|
10/2019
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
Vendor Credentialing Service LLC
#*
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.24%
|
|
11/2021
|
|
7,631
|
|
|
7,546
|
|
|
1.0
|
|
|
7,631
|
|
||||
Vendor Credentialing Service LLC
(4)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(5)
|
|
11/2021
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Verisys Corporation
#
|
One stop
|
|
L + 6.75%
|
(c)
|
|
8.08%
|
|
01/2023
|
|
4,805
|
|
|
4,741
|
|
|
0.6
|
|
|
4,805
|
|
||||
Verisys Corporation
(4)
|
One stop
|
|
L + 6.75%
|
|
|
N/A
(5)
|
|
01/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Workforce Software, LLC
|
One stop
|
|
L + 10.50%
|
(c)
|
|
4.80% cash/7.00% PIK
|
|
06/2021
|
|
22,905
|
|
|
22,788
|
|
|
3.0
|
|
|
22,905
|
|
||||
Workforce Software, LLC
|
One stop
|
|
L + 10.50%
|
(c)
|
|
4.80% cash/7.00% PIK
|
|
06/2021
|
|
50
|
|
|
50
|
|
|
—
|
|
|
50
|
|
||||
Xmatters, Inc. and Alarmpoint, Inc.
|
One stop
|
|
L + 9.25%
|
(a)
|
|
9.74% cash/0.75% PIK
|
|
08/2021
|
|
4,662
|
|
|
4,595
|
|
|
0.6
|
|
|
4,662
|
|
||||
Xmatters, Inc. and Alarmpoint, Inc.
|
One stop
|
|
L + 9.25%
|
(a)
|
|
9.74% cash/0.75% PIK
|
|
08/2021
|
|
20
|
|
|
20
|
|
|
—
|
|
|
20
|
|
||||
|
|
|
|
|
|
|
|
|
|
284,277
|
|
|
280,406
|
|
|
37.0
|
|
|
283,948
|
|
||||
Ecological
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Pace Analytical Services, LLC
#*
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.24%
|
|
09/2022
|
|
15,220
|
|
|
14,998
|
|
|
2.0
|
|
|
15,220
|
|
||||
Pace Analytical Services, LLC
#
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.24%
|
|
09/2022
|
|
1,415
|
|
|
1,395
|
|
|
0.2
|
|
|
1,415
|
|
||||
Pace Analytical Services, LLC
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.24%
|
|
09/2022
|
|
349
|
|
|
344
|
|
|
—
|
|
|
349
|
|
||||
Pace Analytical Services, LLC
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.24%
|
|
09/2022
|
|
25
|
|
|
24
|
|
|
—
|
|
|
25
|
|
||||
Pace Analytical Services, LLC
(4)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(5)
|
|
09/2022
|
|
—
|
|
|
(48
|
)
|
|
—
|
|
|
—
|
|
||||
WRE Holding Corp.
#
|
Senior loan
|
|
L + 4.75%
|
(a)
|
|
5.99%
|
|
01/2023
|
|
1,322
|
|
|
1,308
|
|
|
0.2
|
|
|
1,322
|
|
||||
WRE Holding Corp.
|
Senior loan
|
|
L + 4.75%
|
(a)(c)
|
|
6.00%
|
|
01/2023
|
|
7
|
|
|
7
|
|
|
—
|
|
|
7
|
|
||||
WRE Holding Corp.
(4)
|
Senior loan
|
|
L + 4.75%
|
|
|
N/A
(5)
|
|
01/2023
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
—
|
|
||||
WRE Holding Corp.
(4)
|
Senior loan
|
|
L + 4.75%
|
|
|
N/A
(5)
|
|
01/2023
|
|
—
|
|
|
(23
|
)
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
18,338
|
|
|
18,002
|
|
|
2.4
|
|
|
18,338
|
|
||||
Electronics
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Appriss Holdings, Inc.
#*
|
Senior loan
|
|
L + 5.25%
|
(c)
|
|
6.58%
|
|
11/2020
|
|
10,219
|
|
|
10,145
|
|
|
1.3
|
|
|
10,219
|
|
||||
Appriss Holdings, Inc.
|
Senior loan
|
|
L + 5.25%
|
(b)
|
|
6.53%
|
|
11/2020
|
|
896
|
|
|
888
|
|
|
0.1
|
|
|
896
|
|
||||
Compusearch Software Holdings, Inc.
*
|
Senior loan
|
|
L + 4.25%
|
(c)
|
|
5.58%
|
|
05/2021
|
|
837
|
|
|
836
|
|
|
0.1
|
|
|
837
|
|
||||
Diligent Corporation
#*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
04/2022
|
|
31,699
|
|
|
31,017
|
|
|
4.1
|
|
|
31,699
|
|
||||
Diligent Corporation
#*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
04/2022
|
|
8,890
|
|
|
8,757
|
|
|
1.2
|
|
|
8,890
|
|
||||
Diligent Corporation
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
04/2022
|
|
7,865
|
|
|
7,757
|
|
|
1.0
|
|
|
7,865
|
|
||||
Diligent Corporation
(4)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(5)
|
|
04/2022
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
Gamma Technologies, LLC
*
|
One stop
|
|
L + 4.75%
|
(a)
|
|
5.99%
|
|
06/2021
|
|
4,937
|
|
|
4,906
|
|
|
0.6
|
|
|
4,937
|
|
||||
Gamma Technologies, LLC
(4)
|
One stop
|
|
L + 5.00%
|
|
|
N/A
(5)
|
|
06/2021
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
LD Intermediate Holdings, Inc.
*
|
Senior loan
|
|
L + 5.88%
|
(c)
|
|
7.19%
|
|
12/2022
|
|
2,879
|
|
|
2,678
|
|
|
0.4
|
|
|
2,710
|
|
||||
Park Place Technologies LLC.
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
6.33%
|
|
06/2022
|
|
12,159
|
|
|
12,045
|
|
|
1.6
|
|
|
12,037
|
|
||||
Park Place Technologies LLC
(4)
|
One stop
|
|
L + 5.00%
|
(c)
|
|
N/A
(5)
|
|
06/2022
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
(2
|
)
|
||||
SEI, Inc.
#
|
Senior loan
|
|
L + 4.75%
|
(a)
|
|
5.99%
|
|
07/2021
|
|
3,156
|
|
|
3,128
|
|
|
0.4
|
|
|
3,156
|
|
|
Investment
Type
|
|
Spread
Above
Index
(1)
|
|
Interest
Rate
(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares (3) |
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value
(15)
|
|||||||||
Electronics - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Sloan Company, Inc., The
#
|
One stop
|
|
L + 7.25%
|
(c)
|
|
8.58%
|
|
04/2020
|
|
$
|
3,590
|
|
|
$
|
3,554
|
|
|
0.5
|
|
%
|
$
|
3,410
|
|
|
Sloan Company, Inc., The
|
One stop
|
|
L + 7.25%
|
(c)
|
|
8.57%
|
|
04/2020
|
|
32
|
|
|
32
|
|
|
—
|
|
|
30
|
|
||||
Sovos Compliance
#*
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.24%
|
|
03/2022
|
|
32,422
|
|
|
31,939
|
|
|
4.2
|
|
|
32,097
|
|
||||
Sovos Compliance Formerly Taxware, LLC
*
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.24%
|
|
03/2022
|
|
5,427
|
|
|
5,348
|
|
|
0.7
|
|
|
5,373
|
|
||||
Sovos Compliance Formerly Taxware, LLC
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(5)
|
|
03/2022
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Sovos Compliance
(4)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(5)
|
|
03/2022
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
(1
|
)
|
||||
|
|
|
|
|
|
|
|
|
|
125,008
|
|
|
123,023
|
|
|
16.2
|
|
|
124,153
|
|
||||
Grocery
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Teasdale Quality Foods, Inc.
*
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.05%
|
|
10/2020
|
|
124
|
|
|
123
|
|
|
—
|
|
|
124
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Healthcare, Education and Childcare
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Active Day, Inc.
#*
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.24%
|
|
12/2021
|
|
11,525
|
|
|
11,383
|
|
|
1.5
|
|
|
11,525
|
|
||||
Active Day, Inc.
*
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.24%
|
|
12/2021
|
|
889
|
|
|
883
|
|
|
0.1
|
|
|
889
|
|
||||
Active Day, Inc.
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.24%
|
|
12/2021
|
|
573
|
|
|
570
|
|
|
0.1
|
|
|
573
|
|
||||
Active Day, Inc.
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.24%
|
|
12/2021
|
|
396
|
|
|
393
|
|
|
0.1
|
|
|
396
|
|
||||
Active Day, Inc.
(4)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(5)
|
|
12/2021
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Active Day, Inc.
(4)
|
One stop
|
|
L + 6.00%
|
(a)
|
|
N/A
(5)
|
|
12/2021
|
|
—
|
|
|
(12
|
)
|
|
—
|
|
|
—
|
|
||||
Acuity Eyecare Holdings, LLC
#
|
One stop
|
|
L + 6.75%
|
(b)(c)
|
|
8.04%
|
|
03/2022
|
|
4,829
|
|
|
4,764
|
|
|
0.6
|
|
|
4,829
|
|
||||
Acuity Eyecare Holdings, LLC
|
One stop
|
|
L + 6.75%
|
(c)
|
|
8.06%
|
|
03/2022
|
|
809
|
|
|
766
|
|
|
0.1
|
|
|
809
|
|
||||
Acuity Eyecare Holdings, LLC
(4)
|
One stop
|
|
L + 6.75%
|
|
|
N/A
(5)
|
|
03/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
ADCS Clinics Intermediate Holdings, LLC
#
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.08%
|
|
05/2022
|
|
21,905
|
|
|
21,565
|
|
|
2.8
|
|
|
21,467
|
|
||||
ADCS Clinics Intermediate Holdings, LLC
#
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.08%
|
|
05/2022
|
|
108
|
|
|
107
|
|
|
—
|
|
|
106
|
|
||||
ADCS Clinics Intermediate Holdings, LLC
|
One stop
|
|
P + 4.75%
|
(e)
|
|
9.00%
|
|
05/2022
|
|
95
|
|
|
93
|
|
|
—
|
|
|
93
|
|
||||
ADCS Clinics Intermediate Holdings, LLC
#
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.08%
|
|
05/2022
|
|
32
|
|
|
32
|
|
|
—
|
|
|
31
|
|
||||
ADCS Clinics Intermediate Holdings, LLC
|
One stop
|
|
P + 4.75%
|
(e)
|
|
9.00%
|
|
05/2022
|
|
5
|
|
|
1
|
|
|
—
|
|
|
5
|
|
||||
Advanced Pain Management Holdings, Inc.
#
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.25%
|
|
02/2018
|
|
5,800
|
|
|
5,799
|
|
|
0.7
|
|
|
4,930
|
|
||||
Advanced Pain Management Holdings, Inc.
#
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.25%
|
|
02/2018
|
|
397
|
|
|
397
|
|
|
—
|
|
|
337
|
|
||||
Advanced Pain Management Holdings, Inc.
|
Senior loan
|
|
L + 5.00%
|
|
|
N/A
(5)
|
|
02/2018
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Agilitas USA, Inc.
#
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.30%
|
|
04/2022
|
|
1,976
|
|
|
1,958
|
|
|
0.3
|
|
|
1,976
|
|
||||
Agilitas USA, Inc.
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.30%
|
|
04/2022
|
|
10
|
|
|
9
|
|
|
—
|
|
|
10
|
|
||||
Agilitas USA, Inc.
(4)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(5)
|
|
04/2022
|
|
—
|
|
|
(15
|
)
|
|
—
|
|
|
—
|
|
||||
Apothecary Products, LLC
*
|
Senior loan
|
|
L + 4.00%
|
(c)
|
|
5.72%
|
|
02/2019
|
|
1,857
|
|
|
1,857
|
|
|
0.2
|
|
|
1,857
|
|
||||
Apothecary Products, LLC
|
Senior loan
|
|
L + 4.00%
|
(c)
|
|
5.74%
|
|
02/2019
|
|
263
|
|
|
263
|
|
|
—
|
|
|
263
|
|
||||
Aris Teleradiology Company, LLC
#*
|
Senior loan
|
|
L + 5.50%
|
(c)
|
|
6.83%
|
|
03/2021
|
|
2,507
|
|
|
2,488
|
|
|
0.3
|
|
|
2,156
|
|
||||
Aris Teleradiology Company, LLC
|
Senior loan
|
|
L + 5.50%
|
(c)
|
|
6.81%
|
|
03/2021
|
|
25
|
|
|
25
|
|
|
—
|
|
|
22
|
|
||||
Avalign Technologies, Inc.
*
|
Senior loan
|
|
L + 4.50%
|
(a)
|
|
5.74%
|
|
07/2021
|
|
960
|
|
|
957
|
|
|
0.1
|
|
|
957
|
|
||||
BIORECLAMATIONIVT, LLC
#*
|
One stop
|
|
L + 5.75%
|
(a)
|
|
6.99%
|
|
01/2021
|
|
13,943
|
|
|
13,783
|
|
|
1.8
|
|
|
13,943
|
|
||||
BIORECLAMATIONIVT, LLC
|
One stop
|
|
P + 4.75%
|
(e)
|
|
9.00%
|
|
01/2021
|
|
55
|
|
|
54
|
|
|
—
|
|
|
55
|
|
||||
California Cryobank, LLC
*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
6.83%
|
|
08/2019
|
|
2,544
|
|
|
2,544
|
|
|
0.3
|
|
|
2,544
|
|
||||
California Cryobank, LLC
*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
6.83%
|
|
08/2019
|
|
976
|
|
|
964
|
|
|
0.1
|
|
|
976
|
|
||||
California Cryobank, LLC
*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
6.83%
|
|
08/2019
|
|
326
|
|
|
326
|
|
|
—
|
|
|
326
|
|
||||
California Cryobank, LLC
|
One stop
|
|
L + 5.50%
|
|
|
N/A
(5)
|
|
08/2019
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
CLP Healthcare Services, Inc.
*
|
Senior loan
|
|
L + 5.25%
|
(c)
|
|
6.58%
|
|
12/2020
|
|
936
|
|
|
930
|
|
|
0.1
|
|
|
918
|
|
||||
Curo Health Services LLC
#
|
Senior loan
|
|
L + 4.00%
|
(b)(c)
|
|
5.31%
|
|
02/2022
|
|
827
|
|
|
827
|
|
|
0.1
|
|
|
829
|
|
||||
DCA Investment Holding, LLC
#*
|
One stop
|
|
L + 5.25%
|
(c)
|
|
6.58%
|
|
07/2021
|
|
14,601
|
|
|
14,479
|
|
|
1.9
|
|
|
14,601
|
|
||||
DCA Investment Holding, LLC
#*
|
One stop
|
|
L + 5.25%
|
(c)
|
|
6.58%
|
|
07/2021
|
|
13,625
|
|
|
13,474
|
|
|
1.8
|
|
|
13,625
|
|
||||
DCA Investment Holding, LLC
#*
|
One stop
|
|
L + 5.25%
|
(c)
|
|
6.58%
|
|
07/2021
|
|
6,103
|
|
|
6,006
|
|
|
0.8
|
|
|
6,103
|
|
||||
DCA Investment Holding, LLC
|
One stop
|
|
P + 4.25%
|
(e)
|
|
8.50%
|
|
07/2021
|
|
707
|
|
|
695
|
|
|
0.1
|
|
|
707
|
|
||||
DCA Investment Holding, LLC
(4)
|
One stop
|
|
L + 5.25%
|
|
|
N/A
(5)
|
|
07/2021
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
—
|
|
||||
Deca Dental Management LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
07/2020
|
|
7,486
|
|
|
7,422
|
|
|
1.0
|
|
|
7,486
|
|
||||
Deca Dental Management LLC
*
|
One stop
|
|
L + 6.25%
|
(a)(c)
|
|
7.57%
|
|
07/2020
|
|
911
|
|
|
906
|
|
|
0.1
|
|
|
911
|
|
||||
Deca Dental Management LLC
|
One stop
|
|
L + 6.25%
|
(a)
|
|
7.49%
|
|
07/2020
|
|
50
|
|
|
50
|
|
|
—
|
|
|
50
|
|
||||
Deca Dental Management LLC
(4)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(5)
|
|
07/2020
|
|
—
|
|
|
(7
|
)
|
|
—
|
|
|
—
|
|
|
Investment
Type
|
|
Spread
Above
Index
(1)
|
|
Interest
Rate
(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares (3) |
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value
(15)
|
|||||||||
Healthcare, Education and Childcare - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Dental Holdings Corporation
*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
6.81%
|
|
02/2020
|
|
$
|
3,314
|
|
|
$
|
3,286
|
|
|
0.4
|
|
%
|
$
|
3,247
|
|
|
Dental Holdings Corporation
|
One stop
|
|
L + 5.50%
|
(b)
|
|
6.78%
|
|
02/2020
|
|
505
|
|
|
500
|
|
|
0.1
|
|
|
495
|
|
||||
Dental Holdings Corporation
|
One stop
|
|
L + 5.50%
|
(c)
|
|
6.82%
|
|
02/2020
|
|
98
|
|
|
94
|
|
|
—
|
|
|
88
|
|
||||
eSolutions, Inc.
#*
|
One stop
|
|
L + 6.50%
|
(a)
|
|
7.74%
|
|
03/2022
|
|
18,630
|
|
|
18,426
|
|
|
2.4
|
|
|
18,630
|
|
||||
eSolutions, Inc.
(4)
|
One stop
|
|
L + 6.50%
|
|
|
N/A
(5)
|
|
03/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Excelligence Learning Corporation
#
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.24%
|
|
04/2023
|
|
6,300
|
|
|
6,241
|
|
|
0.8
|
|
|
6,300
|
|
||||
Eyecare Services Partners Holdings LLC
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
05/2023
|
|
10,493
|
|
|
10,321
|
|
|
1.4
|
|
|
10,493
|
|
||||
Eyecare Services Partners Holdings LLC
|
One stop
|
|
P + 5.25%
|
(e)
|
|
9.50%
|
|
05/2023
|
|
17
|
|
|
14
|
|
|
—
|
|
|
17
|
|
||||
Eyecare Services Partners Holdings LLC
(4)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(5)
|
|
05/2023
|
|
—
|
|
|
(61
|
)
|
|
—
|
|
|
—
|
|
||||
Eyecare Services Partners Holdings LLC
(4)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(5)
|
|
05/2023
|
|
—
|
|
|
(77
|
)
|
|
—
|
|
|
—
|
|
||||
G & H Wire Company, Inc
#
|
One stop
|
|
L + 5.50%
|
(c)
|
|
6.81%
|
|
09/2023
|
|
7,148
|
|
|
7,060
|
|
|
0.9
|
|
|
7,077
|
|
||||
G & H Wire Company, Inc
(4)
|
One stop
|
|
L + 5.50%
|
|
|
N/A
(5)
|
|
09/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(1
|
)
|
||||
Immucor, Inc.
#
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.24%
|
|
06/2021
|
|
2,055
|
|
|
2,028
|
|
|
0.3
|
|
|
2,087
|
|
||||
Kareo, Inc.
|
One stop
|
|
L + 9.00%
|
(b)
|
|
10.27%
|
|
06/2022
|
|
5,755
|
|
|
5,508
|
|
|
0.8
|
|
|
5,755
|
|
||||
Kareo, Inc.
|
One stop
|
|
L + 9.00%
|
|
|
N/A
(5)
|
|
06/2022
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Katena Holdings, Inc.
*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
06/2021
|
|
4,521
|
|
|
4,491
|
|
|
0.6
|
|
|
4,430
|
|
||||
Katena Holdings, Inc.
*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
06/2021
|
|
441
|
|
|
438
|
|
|
0.1
|
|
|
432
|
|
||||
Katena Holdings, Inc.
|
One stop
|
|
P + 5.25%
|
(e)
|
|
9.50%
|
|
06/2021
|
|
64
|
|
|
63
|
|
|
—
|
|
|
62
|
|
||||
Lombart Brothers, Inc.
#
|
One stop
|
|
L + 6.75%
|
(c)
|
|
8.08%
|
|
04/2022
|
|
3,377
|
|
|
3,325
|
|
|
0.4
|
|
|
3,377
|
|
||||
Lombart Brothers, Inc.
#(7)
|
One stop
|
|
L + 6.75%
|
(c)
|
|
8.08%
|
|
04/2022
|
|
1,550
|
|
|
1,526
|
|
|
0.2
|
|
|
1,550
|
|
||||
Lombart Brothers, Inc.
|
One stop
|
|
P + 5.50%
|
(e)
|
|
9.75%
|
|
04/2022
|
|
36
|
|
|
35
|
|
|
—
|
|
|
36
|
|
||||
Lombart Brothers, Inc.
(7)
|
One stop
|
|
L + 6.75%
|
|
|
N/A
(5)
|
|
04/2022
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Maverick Healthcare Group, LLC
#
|
Senior loan
|
|
L + 7.50%
|
(a)
|
|
7.25% cash/2.00% PIK
|
|
12/2017
|
|
643
|
|
|
643
|
|
|
0.1
|
|
|
624
|
|
||||
Maverick Healthcare Group, LLC
|
Senior loan
|
|
P + 6.50%
|
(e)
|
|
5.25% cash/5.50% PIK
|
|
12/2017
|
|
27
|
|
|
27
|
|
|
—
|
|
|
27
|
|
||||
MWD Management, LLC & MWD Services, Inc.
#
|
One stop
|
|
L + 5.25%
|
(c)
|
|
6.58%
|
|
06/2023
|
|
1,308
|
|
|
1,293
|
|
|
0.2
|
|
|
1,308
|
|
||||
MWD Management, LLC & MWD Services, Inc.
(4)
|
One stop
|
|
L + 5.25%
|
|
|
N/A
(5)
|
|
06/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
MWD Management, LLC & MWD Services, Inc.
(4)
|
One stop
|
|
L + 5.25%
|
|
|
N/A
(5)
|
|
06/2023
|
|
—
|
|
|
(40
|
)
|
|
—
|
|
|
—
|
|
||||
Oliver Street Dermatology Holdings, LLC
#*
|
One stop
|
|
L + 6.50%
|
(c)
|
|
7.83%
|
|
05/2022
|
|
8,806
|
|
|
8,681
|
|
|
1.2
|
|
|
8,806
|
|
||||
Oliver Street Dermatology Holdings, LLC
|
One stop
|
|
L + 6.50%
|
(a)(b)(c)
|
|
7.78%
|
|
05/2022
|
|
1,803
|
|
|
1,785
|
|
|
0.2
|
|
|
1,803
|
|
||||
Oliver Street Dermatology Holdings, LLC
#
|
One stop
|
|
L + 6.50%
|
(c)
|
|
7.83%
|
|
05/2022
|
|
1,054
|
|
|
1,044
|
|
|
0.1
|
|
|
1,054
|
|
||||
Oliver Street Dermatology Holdings, LLC
|
One stop
|
|
L + 6.50%
|
(c)
|
|
7.81%
|
|
05/2022
|
|
46
|
|
|
45
|
|
|
—
|
|
|
46
|
|
||||
Oliver Street Dermatology Holdings, LLC
*
|
One stop
|
|
L + 6.50%
|
(c)
|
|
7.83%
|
|
05/2022
|
|
42
|
|
|
41
|
|
|
—
|
|
|
42
|
|
||||
Oliver Street Dermatology Holdings, LLC
|
One stop
|
|
L + 6.50%
|
(c)
|
|
7.83%
|
|
05/2022
|
|
33
|
|
|
32
|
|
|
—
|
|
|
33
|
|
||||
Oliver Street Dermatology Holdings, LLC
|
One stop
|
|
L + 6.50%
|
(c)
|
|
7.83%
|
|
05/2022
|
|
30
|
|
|
30
|
|
|
—
|
|
|
30
|
|
||||
Oliver Street Dermatology Holdings, LLC
(4)
|
One stop
|
|
L + 6.50%
|
(c)(e)
|
|
N/A
(5)
|
|
05/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Oliver Street Dermatology Holdings, LLC
(4)
|
One stop
|
|
L + 6.50%
|
|
|
N/A
(5)
|
|
05/2022
|
|
—
|
|
|
(8
|
)
|
|
—
|
|
|
—
|
|
||||
Pinnacle Treatment Centers, Inc.
#
|
One stop
|
|
L + 6.25%
|
(b)
|
|
7.53%
|
|
08/2021
|
|
9,748
|
|
|
9,616
|
|
|
1.3
|
|
|
9,748
|
|
||||
Pinnacle Treatment Centers, Inc.
|
One stop
|
|
P + 5.00%
|
(e)
|
|
9.25%
|
|
08/2021
|
|
30
|
|
|
29
|
|
|
—
|
|
|
30
|
|
||||
Pinnacle Treatment Centers, Inc.
(4)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(5)
|
|
08/2021
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
PPT Management Holdings, LLC
#*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.33%
|
|
12/2022
|
|
11,711
|
|
|
11,482
|
|
|
1.5
|
|
|
11,477
|
|
||||
PPT Management Holdings, LLC
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.33%
|
|
12/2022
|
|
135
|
|
|
132
|
|
|
—
|
|
|
132
|
|
||||
PPT Management Holdings, LLC
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.24%
|
|
12/2022
|
|
50
|
|
|
46
|
|
|
—
|
|
|
46
|
|
||||
Premise Health Holding Corp.
*
|
One stop
|
|
L + 4.50%
|
(c)
|
|
5.83%
|
|
06/2020
|
|
1,987
|
|
|
1,987
|
|
|
0.3
|
|
|
1,987
|
|
||||
Premise Health Holding Corp.
|
One stop
|
|
L + 4.50%
|
|
|
N/A
(5)
|
|
06/2020
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Pyramid Healthcare, Inc.
|
One stop
|
|
L + 6.50%
|
(a)
|
|
7.74%
|
|
08/2019
|
|
150
|
|
|
148
|
|
|
—
|
|
|
150
|
|
||||
Radiology Partners, Inc.
#
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.08%
|
|
09/2020
|
|
4,399
|
|
|
4,361
|
|
|
0.6
|
|
|
4,399
|
|
||||
Radiology Partners, Inc.
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.08%
|
|
09/2020
|
|
99
|
|
|
98
|
|
|
—
|
|
|
99
|
|
||||
Reliant Pro ReHab, LLC
*
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
6.33%
|
|
12/2017
|
|
1,144
|
|
|
1,143
|
|
|
0.2
|
|
|
1,144
|
|
||||
Reliant Pro ReHab, LLC
|
Senior loan
|
|
P + 4.00%
|
(e)
|
|
8.25%
|
|
12/2017
|
|
83
|
|
|
83
|
|
|
—
|
|
|
83
|
|
||||
Riverchase MSO, LLC
#*
|
Senior loan
|
|
L + 5.25%
|
(c)
|
|
6.58%
|
|
10/2022
|
|
4,940
|
|
|
4,877
|
|
|
0.7
|
|
|
4,940
|
|
||||
Riverchase MSO, LLC
|
Senior loan
|
|
L + 5.25%
|
(c)
|
|
6.58%
|
|
10/2022
|
|
28
|
|
|
27
|
|
|
—
|
|
|
28
|
|
||||
RXH Buyer Corporation
#
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.08%
|
|
09/2021
|
|
11,134
|
|
|
10,987
|
|
|
1.4
|
|
|
10,912
|
|
||||
RXH Buyer Corporation
*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.08%
|
|
09/2021
|
|
1,260
|
|
|
1,252
|
|
|
0.2
|
|
|
1,235
|
|
|
Investment
Type
|
|
Spread
Above
Index
(1)
|
|
Interest
Rate
(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares (3) |
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value
(15)
|
|||||||||
Healthcare, Education and Childcare - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
RXH Buyer Corporation
|
One stop
|
|
L + 5.75%
|
(c)(e)
|
|
7.61%
|
|
09/2021
|
|
$
|
55
|
|
|
$
|
52
|
|
|
—
|
|
%
|
$
|
51
|
|
|
SLMP, LLC
#
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.24%
|
|
05/2023
|
|
2,888
|
|
|
2,847
|
|
|
0.4
|
|
|
2,888
|
|
||||
SLMP, LLC
|
One stop
|
|
N/A
|
|
|
7.50% PIK
|
|
05/2027
|
|
109
|
|
|
109
|
|
|
—
|
|
|
109
|
|
||||
SLMP, LLC
(4)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(5)
|
|
05/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
SLMP, LLC
(4)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(5)
|
|
05/2023
|
|
—
|
|
|
(27
|
)
|
|
—
|
|
|
—
|
|
||||
Spear Education, LLC
*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.05%
|
|
08/2019
|
|
3,504
|
|
|
3,493
|
|
|
0.5
|
|
|
3,504
|
|
||||
Spear Education, LLC
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.30%
|
|
08/2019
|
|
180
|
|
|
179
|
|
|
—
|
|
|
180
|
|
||||
Spear Education, LLC
(4)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(5)
|
|
08/2019
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2
|
)
|
||||
Summit Behavioral Holdings I, LLC
*
|
One stop
|
|
L + 5.00%
|
(a)
|
|
6.24%
|
|
06/2021
|
|
4,137
|
|
|
4,098
|
|
|
0.5
|
|
|
4,137
|
|
||||
Summit Behavioral Holdings I, LLC
|
One stop
|
|
L + 5.00%
|
(a)
|
|
6.24%
|
|
06/2021
|
|
113
|
|
|
112
|
|
|
—
|
|
|
113
|
|
||||
Summit Behavioral Holdings I, LLC
|
One stop
|
|
L + 5.00%
|
(a)
|
|
6.24%
|
|
06/2021
|
|
5
|
|
|
5
|
|
|
—
|
|
|
5
|
|
||||
WHCG Management, LLC
*
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.08%
|
|
03/2023
|
|
3,990
|
|
|
3,945
|
|
|
0.5
|
|
|
3,990
|
|
||||
WHCG Management, LLC
(4)
|
Senior loan
|
|
L + 4.75%
|
|
|
N/A
(5)
|
|
03/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
WHCG Management, LLC
(4)
|
Senior loan
|
|
L + 4.75%
|
|
|
N/A
(5)
|
|
03/2023
|
|
—
|
|
|
(24
|
)
|
|
—
|
|
|
—
|
|
||||
WIRB-Copernicus Group, Inc.
#
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
6.33%
|
|
08/2022
|
|
9,387
|
|
|
9,310
|
|
|
1.2
|
|
|
9,387
|
|
||||
WIRB-Copernicus Group, Inc.
|
Senior loan
|
|
L + 5.00%
|
|
|
N/A
(5)
|
|
08/2022
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Young Innovations, Inc.
#
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
6.33%
|
|
01/2019
|
|
133
|
|
|
132
|
|
|
—
|
|
|
133
|
|
||||
|
|
|
|
|
|
|
|
|
|
267,546
|
|
|
264,013
|
|
|
34.5
|
|
|
265,058
|
|
||||
Home and Office Furnishings, Housewares, and Durable Consumer
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
CST Buyer Company
*
|
Senior loan
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
03/2023
|
|
3,351
|
|
|
3,268
|
|
|
0.4
|
|
|
3,351
|
|
||||
CST Buyer Company
(4)
|
Senior loan
|
|
L + 6.25%
|
|
|
N/A
(5)
|
|
03/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Plano Molding Company, LLC
#
|
One stop
|
|
L + 7.50%
|
(a)
|
|
8.74%
|
|
05/2021
|
|
6,991
|
|
|
6,920
|
|
|
0.8
|
|
|
5,942
|
|
||||
|
|
|
|
|
|
|
|
|
|
10,342
|
|
|
10,187
|
|
|
1.2
|
|
|
9,293
|
|
||||
Hotels, Motels, Inns, and Gaming
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Aimbridge Hospitality, LLC
#*
|
One stop
|
|
L + 5.50%
|
(a)
|
|
6.74%
|
|
06/2022
|
|
11,044
|
|
|
10,862
|
|
|
1.5
|
|
|
11,044
|
|
||||
Aimbridge Hospitality, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
6.74%
|
|
06/2022
|
|
301
|
|
|
277
|
|
|
—
|
|
|
301
|
|
||||
Aimbridge Hospitality, LLC
(4)
|
One stop
|
|
L + 5.50%
|
|
|
N/A
(5)
|
|
06/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
11,345
|
|
|
11,138
|
|
|
1.5
|
|
|
11,345
|
|
||||
Insurance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Captive Resources Midco, LLC
#*
|
One stop
|
|
L + 5.75%
|
(a)
|
|
6.99%
|
|
06/2020
|
|
7,546
|
|
|
7,489
|
|
|
1.0
|
|
|
7,546
|
|
||||
Captive Resources Midco, LLC
(4)
|
One stop
|
|
L + 5.75%
|
|
|
N/A
(5)
|
|
06/2020
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
—
|
|
||||
Captive Resources Midco, LLC
(4)
|
One stop
|
|
L + 5.75%
|
|
|
N/A
(5)
|
|
06/2020
|
|
—
|
|
|
(7
|
)
|
|
—
|
|
|
—
|
|
||||
Higginbotham Insurance Agency, Inc.
*
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.24%
|
|
11/2021
|
|
1,372
|
|
|
1,363
|
|
|
0.2
|
|
|
1,372
|
|
||||
Internet Pipeline, Inc.
#*
|
One stop
|
|
L + 7.25%
|
(a)
|
|
8.49%
|
|
08/2022
|
|
10,326
|
|
|
10,179
|
|
|
1.3
|
|
|
10,476
|
|
||||
Internet Pipeline, Inc.
#*
|
One stop
|
|
L + 6.25%
|
(a)
|
|
7.48%
|
|
08/2022
|
|
4,450
|
|
|
4,408
|
|
|
0.6
|
|
|
4,341
|
|
||||
Internet Pipeline, Inc.
*
|
One stop
|
|
L + 6.25%
|
(a)
|
|
7.48%
|
|
08/2022
|
|
1,685
|
|
|
1,668
|
|
|
0.2
|
|
|
1,643
|
|
||||
Internet Pipeline, Inc.
(4)
|
One stop
|
|
L + 7.25%
|
|
|
N/A
(5)
|
|
08/2021
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
1
|
|
||||
RSC Acquisition, Inc.
#*
|
Senior loan
|
|
L + 5.25%
|
(c)
|
|
6.58%
|
|
11/2022
|
|
6,838
|
|
|
6,819
|
|
|
0.9
|
|
|
6,838
|
|
||||
RSC Acquisition, Inc.
(4)
|
Senior loan
|
|
L + 5.25%
|
|
|
N/A
(5)
|
|
11/2022
|
|
—
|
|
|
(20
|
)
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
32,217
|
|
|
31,895
|
|
|
4.2
|
|
|
32,217
|
|
||||
Leisure, Amusement, Motion Pictures, Entertainment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
NFD Operating, LLC
*
|
One stop
|
|
L + 7.00%
|
(c)
|
|
8.30%
|
|
06/2021
|
|
2,170
|
|
|
2,145
|
|
|
0.3
|
|
|
2,170
|
|
||||
NFD Operating, LLC
|
One stop
|
|
L + 7.00%
|
|
|
N/A
(5)
|
|
06/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
NFD Operating, LLC
(4)
|
One stop
|
|
L + 7.00%
|
|
|
N/A
(5)
|
|
06/2021
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
PADI Holdco, Inc.
#
|
One stop
|
|
L + 6.50%
|
(c)
|
|
7.84%
|
|
04/2023
|
|
25,529
|
|
|
25,174
|
|
|
3.3
|
|
|
25,529
|
|
||||
PADI Holdco, Inc.
|
One stop
|
|
L + 6.50%
|
(b)(c)
|
|
7.78%
|
|
04/2022
|
|
72
|
|
|
70
|
|
|
—
|
|
|
72
|
|
||||
Self Esteem Brands, LLC
#*
|
Senior loan
|
|
L + 4.75%
|
(a)
|
|
5.99%
|
|
02/2020
|
|
9,683
|
|
|
9,621
|
|
|
1.3
|
|
|
9,683
|
|
||||
Teaching Company, The
#*
|
One stop
|
|
L + 7.00%
|
(a)(c)
|
|
8.32%
|
|
08/2020
|
|
12,187
|
|
|
12,133
|
|
|
1.6
|
|
|
11,943
|
|
||||
Teaching Company, The
|
One stop
|
|
L + 7.00%
|
(a)(e)
|
|
8.24%
|
|
08/2020
|
|
25
|
|
|
24
|
|
|
—
|
|
|
23
|
|
||||
Titan Fitness, LLC
*
|
One stop
|
|
L + 7.00%
|
(a)
|
|
8.25%
|
|
09/2019
|
|
1,954
|
|
|
1,954
|
|
|
0.3
|
|
|
1,954
|
|
||||
Titan Fitness, LLC
|
One stop
|
|
L + 7.00%
|
(a)
|
|
8.25%
|
|
09/2019
|
|
294
|
|
|
293
|
|
|
—
|
|
|
294
|
|
||||
Titan Fitness, LLC
#
|
One stop
|
|
L + 7.00%
|
(a)
|
|
8.25%
|
|
09/2019
|
|
259
|
|
|
259
|
|
|
—
|
|
|
259
|
|
||||
Titan Fitness, LLC
|
One stop
|
|
L + 7.00%
|
|
|
N/A
(5)
|
|
09/2019
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
Investment
Type
|
|
Spread
Above
Index
(1)
|
|
Interest
Rate
(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares (3) |
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value
(15)
|
|||||||||
Leisure, Amusement, Motion Pictures, Entertainment - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Titan Fitness, LLC
(4)
|
One stop
|
|
L + 7.00%
|
|
|
N/A
(5)
|
|
09/2019
|
|
$
|
—
|
|
|
$
|
(2
|
)
|
|
—
|
|
%
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
52,173
|
|
|
51,670
|
|
|
6.8
|
|
|
51,927
|
|
||||
Mining, Steel, Iron and Non-Precious Metals
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Benetech, Inc.
#
|
One stop
|
|
L + 11.00%
|
(a)
|
|
10.25% cash/2.00% PIK
|
|
08/2018
|
|
192
|
|
|
192
|
|
|
—
|
|
|
154
|
|
||||
Benetech, Inc.
|
One stop
|
|
P + 9.75%
|
(a)(e)
|
|
12.00% cash/2.00% PIK
|
|
08/2018
|
|
16
|
|
|
16
|
|
|
—
|
|
|
6
|
|
||||
|
|
|
|
|
|
|
|
|
|
208
|
|
|
208
|
|
|
—
|
|
|
160
|
|
||||
Oil and Gas
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Drilling Info, Inc.
#*
|
One stop
|
|
L + 6.25%
|
(b)
|
|
7.52%
|
|
06/2020
|
|
17,048
|
|
|
16,948
|
|
|
2.2
|
|
|
16,919
|
|
||||
Drilling Info, Inc.
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(5)
|
|
06/2020
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
17,048
|
|
|
16,948
|
|
|
2.2
|
|
|
16,919
|
|
||||
Personal and Non Durable Consumer Products (Mfg. Only)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Georgica Pine Clothiers, LLC
*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
6.83%
|
|
11/2021
|
|
4,873
|
|
|
4,839
|
|
|
0.6
|
|
|
4,873
|
|
||||
Georgica Pine Clothiers, LLC
#
|
One stop
|
|
L + 5.50%
|
(c)
|
|
6.83%
|
|
11/2021
|
|
426
|
|
|
422
|
|
|
0.1
|
|
|
426
|
|
||||
Georgica Pine Clothiers, LLC
*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
6.83%
|
|
11/2021
|
|
299
|
|
|
296
|
|
|
—
|
|
|
299
|
|
||||
Georgica Pine Clothiers, LLC
|
One stop
|
|
L + 5.50%
|
(c)
|
|
6.83%
|
|
11/2021
|
|
58
|
|
|
57
|
|
|
—
|
|
|
58
|
|
||||
IMPLUS Footwear, LLC
#
|
One stop
|
|
L + 6.75%
|
(c)
|
|
8.08%
|
|
04/2021
|
|
13,510
|
|
|
13,398
|
|
|
1.8
|
|
|
13,510
|
|
||||
IMPLUS Footwear, LLC
#
|
One stop
|
|
L + 6.75%
|
(c)
|
|
8.07%
|
|
04/2021
|
|
2,378
|
|
|
2,359
|
|
|
0.3
|
|
|
2,378
|
|
||||
Massage Envy, LLC
*
|
One stop
|
|
L + 6.75%
|
(c)(e)
|
|
8.09%
|
|
09/2020
|
|
3,152
|
|
|
3,132
|
|
|
0.4
|
|
|
3,152
|
|
||||
Massage Envy, LLC
|
One stop
|
|
L + 6.75%
|
(c)(e)
|
|
8.07%
|
|
09/2020
|
|
100
|
|
|
99
|
|
|
—
|
|
|
100
|
|
||||
Massage Envy, LLC
|
One stop
|
|
L + 6.75%
|
(c)
|
|
8.07%
|
|
09/2020
|
|
95
|
|
|
94
|
|
|
—
|
|
|
95
|
|
||||
Massage Envy, LLC
|
One stop
|
|
L + 6.75%
|
(c)(e)
|
|
8.08%
|
|
09/2020
|
|
71
|
|
|
71
|
|
|
—
|
|
|
71
|
|
||||
Massage Envy, LLC
|
One stop
|
|
L + 6.75%
|
(c)(e)
|
|
8.10%
|
|
09/2020
|
|
31
|
|
|
30
|
|
|
—
|
|
|
31
|
|
||||
Massage Envy, LLC
|
One stop
|
|
L + 6.75%
|
(a)
|
|
7.99%
|
|
09/2020
|
|
21
|
|
|
20
|
|
|
—
|
|
|
21
|
|
||||
Massage Envy, LLC
(4)
|
One stop
|
|
L + 6.75%
|
(c)
|
|
N/A
(5)
|
|
09/2020
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
Orthotics Holdings, Inc.
#
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.24%
|
|
02/2020
|
|
3,694
|
|
|
3,664
|
|
|
0.5
|
|
|
3,620
|
|
||||
Orthotics Holdings, Inc.
#(7)(8)
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.24%
|
|
02/2020
|
|
606
|
|
|
601
|
|
|
0.1
|
|
|
594
|
|
||||
Orthotics Holdings, Inc.
(4)(7)(8)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(5)
|
|
02/2020
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Orthotics Holdings, Inc.
(4)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(5)
|
|
02/2020
|
|
—
|
|
|
(5
|
)
|
|
—
|
|
|
(2
|
)
|
||||
Team Technologies Acquisition Company
*
|
Senior loan
|
|
L + 5.00%
|
(c)(e)
|
|
6.32%
|
|
12/2017
|
|
260
|
|
|
261
|
|
|
—
|
|
|
260
|
|
||||
Team Technologies Acquisition Company
#
|
Senior loan
|
|
L + 5.50%
|
(c)(e)
|
|
6.82%
|
|
12/2017
|
|
48
|
|
|
48
|
|
|
—
|
|
|
49
|
|
||||
Team Technologies Acquisition Company
|
Senior loan
|
|
L + 5.00%
|
|
|
N/A
(5)
|
|
12/2017
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
29,622
|
|
|
29,383
|
|
|
3.8
|
|
|
29,535
|
|
||||
Personal, Food and Miscellaneous Services
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Clarkson Eyecare LLC
#*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
04/2021
|
|
17,190
|
|
|
17,001
|
|
|
2.2
|
|
|
16,674
|
|
||||
Clarkson Eyecare LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
04/2021
|
|
8,529
|
|
|
8,468
|
|
|
1.1
|
|
|
8,273
|
|
||||
Clarkson Eyecare LLC
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
04/2021
|
|
2,956
|
|
|
2,935
|
|
|
0.4
|
|
|
2,867
|
|
||||
Clarkson Eyecare LLC
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
04/2021
|
|
2,517
|
|
|
2,500
|
|
|
0.3
|
|
|
2,441
|
|
||||
Clarkson Eyecare LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
04/2021
|
|
716
|
|
|
666
|
|
|
0.1
|
|
|
692
|
|
||||
Clarkson Eyecare LLC
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
04/2021
|
|
663
|
|
|
663
|
|
|
0.1
|
|
|
643
|
|
||||
Clarkson Eyecare LLC
#
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
04/2021
|
|
489
|
|
|
481
|
|
|
0.1
|
|
|
474
|
|
||||
Clarkson Eyecare LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
04/2021
|
|
277
|
|
|
273
|
|
|
—
|
|
|
259
|
|
||||
Community Veterinary Partners, LLC
|
One stop
|
|
L + 5.50%
|
(c)
|
|
6.83%
|
|
10/2021
|
|
42
|
|
|
41
|
|
|
—
|
|
|
42
|
|
||||
Ignite Restaurant Group, Inc (Joe's Crab Shack)
*(6)
|
One stop
|
|
P + 6.00%
|
(e)
|
|
10.25%
|
|
02/2019
|
|
1,039
|
|
|
1,039
|
|
|
—
|
|
|
286
|
|
||||
PetVet Care Centers LLC
#
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.33%
|
|
06/2023
|
|
10,983
|
|
|
10,879
|
|
|
1.4
|
|
|
10,983
|
|
||||
PetVet Care Centers LLC
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.32%
|
|
06/2023
|
|
2,665
|
|
|
2,608
|
|
|
0.3
|
|
|
2,665
|
|
||||
PetVet Care Centers LLC
|
One stop
|
|
L + 6.00%
|
(b)
|
|
7.27%
|
|
06/2023
|
|
69
|
|
|
66
|
|
|
—
|
|
|
69
|
|
||||
R.G. Barry Corporation
#
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.24%
|
|
09/2019
|
|
1,257
|
|
|
1,257
|
|
|
0.2
|
|
|
1,257
|
|
||||
Southern Veterinary Partners, LLC
|
One stop
|
|
L + 5.00%
|
(a)
|
|
6.23%
|
|
06/2020
|
|
2,493
|
|
|
2,456
|
|
|
0.3
|
|
|
2,493
|
|
||||
Southern Veterinary Partners, LLC
*
|
One stop
|
|
L + 5.00%
|
(a)
|
|
6.24%
|
|
06/2020
|
|
1,585
|
|
|
1,574
|
|
|
0.2
|
|
|
1,585
|
|
||||
Southern Veterinary Partners, LLC
|
One stop
|
|
L + 5.00%
|
(a)
|
|
6.23%
|
|
06/2020
|
|
17
|
|
|
17
|
|
|
—
|
|
|
17
|
|
||||
Vetcor Professional Practices LLC
#*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.33%
|
|
04/2021
|
|
27,276
|
|
|
26,887
|
|
|
3.5
|
|
|
27,276
|
|
||||
Vetcor Professional Practices LLC
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.33%
|
|
04/2021
|
|
2,980
|
|
|
2,867
|
|
|
0.4
|
|
|
2,980
|
|
||||
Vetcor Professional Practices LLC
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.33%
|
|
04/2021
|
|
2,360
|
|
|
2,325
|
|
|
0.3
|
|
|
2,360
|
|
||||
Vetcor Professional Practices LLC
#
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.33%
|
|
04/2021
|
|
628
|
|
|
623
|
|
|
0.1
|
|
|
628
|
|
|
Investment
Type
|
|
Spread
Above
Index
(1)
|
|
Interest
Rate
(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares (3) |
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value
(15)
|
|||||||||
Personal, Food and Miscellaneous Services - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Vetcor Professional Practices LLC
*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.33%
|
|
04/2021
|
|
$
|
622
|
|
|
$
|
614
|
|
|
0.1
|
|
%
|
$
|
622
|
|
|
Vetcor Professional Practices LLC
*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.33%
|
|
04/2021
|
|
489
|
|
|
489
|
|
|
0.1
|
|
|
489
|
|
||||
Vetcor Professional Practices LLC
*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.33%
|
|
04/2021
|
|
476
|
|
|
470
|
|
|
0.1
|
|
|
476
|
|
||||
Vetcor Professional Practices LLC
*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.33%
|
|
04/2021
|
|
187
|
|
|
186
|
|
|
—
|
|
|
187
|
|
||||
Vetcor Professional Practices LLC
*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.33%
|
|
04/2021
|
|
153
|
|
|
152
|
|
|
—
|
|
|
153
|
|
||||
Vetcor Professional Practices LLC
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.33%
|
|
04/2021
|
|
17
|
|
|
13
|
|
|
—
|
|
|
17
|
|
||||
Veterinary Specialists of North America, LLC
#*
|
One stop
|
|
L + 5.25%
|
(c)
|
|
6.56%
|
|
07/2021
|
|
3,853
|
|
|
3,813
|
|
|
0.5
|
|
|
3,853
|
|
||||
Veterinary Specialists of North America, LLC
|
One stop
|
|
L + 5.25%
|
(c)
|
|
6.58%
|
|
07/2021
|
|
49
|
|
|
41
|
|
|
—
|
|
|
49
|
|
||||
Veterinary Specialists of North America, LLC
#
|
One stop
|
|
L + 5.25%
|
(c)
|
|
6.56%
|
|
07/2021
|
|
33
|
|
|
33
|
|
|
—
|
|
|
33
|
|
||||
Veterinary Specialists of North America, LLC
(4)
|
One stop
|
|
L + 5.25%
|
|
|
N/A
(5)
|
|
07/2021
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Wetzel's Pretzels, LLC
*
|
One stop
|
|
L + 6.75%
|
(a)
|
|
7.99%
|
|
09/2021
|
|
6,012
|
|
|
5,927
|
|
|
0.8
|
|
|
6,012
|
|
||||
Wetzel's Pretzels, LLC
(4)
|
One stop
|
|
L + 6.75%
|
|
|
N/A
(5)
|
|
09/2021
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
98,622
|
|
|
97,362
|
|
|
12.6
|
|
|
96,855
|
|
||||
Printing and Publishing
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Brandmuscle, Inc.
*
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
6.33%
|
|
12/2021
|
|
538
|
|
|
533
|
|
|
0.1
|
|
|
542
|
|
||||
Marketo, Inc.
|
One stop
|
|
L + 9.50%
|
(c)
|
|
10.83%
|
|
08/2021
|
|
20,640
|
|
|
20,160
|
|
|
2.7
|
|
|
20,640
|
|
||||
Marketo, Inc.
(4)
|
One stop
|
|
L + 9.50%
|
|
|
N/A
(5)
|
|
08/2021
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
21,178
|
|
|
20,692
|
|
|
2.8
|
|
|
21,182
|
|
||||
Retail Stores
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Batteries Plus Holding Corporation
#*
|
One stop
|
|
L + 6.75%
|
(a)
|
|
7.99%
|
|
07/2022
|
|
13,086
|
|
|
12,919
|
|
|
1.7
|
|
|
13,086
|
|
||||
Batteries Plus Holding Corporation
(4)
|
One stop
|
|
L + 6.75%
|
|
|
N/A
(5)
|
|
07/2022
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
CVS Holdings I, LP
#*
|
One stop
|
|
L + 6.25%
|
(a)
|
|
7.49%
|
|
08/2021
|
|
17,139
|
|
|
16,930
|
|
|
2.2
|
|
|
17,139
|
|
||||
CVS Holdings I, LP
#
|
One stop
|
|
L + 6.25%
|
(a)
|
|
7.49%
|
|
08/2021
|
|
248
|
|
|
244
|
|
|
—
|
|
|
248
|
|
||||
CVS Holdings I, LP
|
One stop
|
|
L + 6.25%
|
(a)
|
|
7.49%
|
|
08/2021
|
|
34
|
|
|
28
|
|
|
—
|
|
|
34
|
|
||||
CVS Holdings I, LP
(4)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(5)
|
|
08/2020
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
Cycle Gear, Inc.
*
|
One stop
|
|
L + 6.50%
|
(c)
|
|
7.80%
|
|
01/2020
|
|
7,572
|
|
|
7,511
|
|
|
1.0
|
|
|
7,572
|
|
||||
Cycle Gear, Inc.
|
One stop
|
|
L + 6.50%
|
(c)
|
|
7.82%
|
|
01/2020
|
|
710
|
|
|
704
|
|
|
0.1
|
|
|
710
|
|
||||
Cycle Gear, Inc.
(4)
|
One stop
|
|
L + 6.50%
|
|
|
N/A
(5)
|
|
01/2020
|
|
—
|
|
|
(7
|
)
|
|
—
|
|
|
—
|
|
||||
DTLR, Inc.
#*
|
One stop
|
|
L + 6.50%
|
(c)
|
|
7.81%
|
|
08/2022
|
|
19,705
|
|
|
19,417
|
|
|
2.6
|
|
|
19,408
|
|
||||
Feeders Supply Company, LLC
#*
|
One stop
|
|
L + 5.75%
|
(a)
|
|
6.99%
|
|
04/2021
|
|
4,699
|
|
|
4,656
|
|
|
0.6
|
|
|
4,699
|
|
||||
Feeders Supply Company, LLC
|
Subordinated debt
|
|
N/A
|
|
|
12.50% cash/7.00% PIK
|
|
04/2021
|
|
55
|
|
|
55
|
|
|
—
|
|
|
55
|
|
||||
Feeders Supply Company, LLC
|
One stop
|
|
L + 5.75%
|
|
|
N/A
(5)
|
|
04/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Marshall Retail Group, LLC, The
#
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.30%
|
|
08/2020
|
|
3,150
|
|
|
3,150
|
|
|
0.4
|
|
|
3,150
|
|
||||
Marshall Retail Group, LLC, The
|
One stop
|
|
P + 4.75%
|
(e)
|
|
9.00%
|
|
08/2019
|
|
77
|
|
|
77
|
|
|
—
|
|
|
77
|
|
||||
Mills Fleet Farm Group LLC
#*
|
One stop
|
|
L + 5.50%
|
(a)
|
|
6.74%
|
|
02/2022
|
|
5,650
|
|
|
5,419
|
|
|
0.8
|
|
|
5,650
|
|
||||
Pet Holdings ULC
#(7)(8)
|
One stop
|
|
L + 5.50%
|
(c)
|
|
6.80%
|
|
07/2022
|
|
32,348
|
|
|
31,832
|
|
|
4.2
|
|
|
32,348
|
|
||||
Pet Holdings ULC(7)
(8)
|
One stop
|
|
L + 5.50%
|
(c)
|
|
6.81%
|
|
07/2022
|
|
56
|
|
|
55
|
|
|
—
|
|
|
56
|
|
||||
Pet Holdings ULC
(4)(7)(8)
|
One stop
|
|
L + 5.50%
|
(e)
|
|
N/A
(5)
|
|
07/2022
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
PetPeople Enterprises, LLC
*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.32%
|
|
09/2023
|
|
2,373
|
|
|
2,343
|
|
|
0.3
|
|
|
2,349
|
|
||||
PetPeople Enterprises, LLC
(4)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(5)
|
|
09/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
PetPeople Enterprises, LLC
(4)
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(5)
|
|
09/2023
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
(17
|
)
|
||||
|
|
|
|
|
|
|
|
|
|
106,902
|
|
|
105,324
|
|
|
13.9
|
|
|
106,564
|
|
||||
Telecommunications
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
NetMotion Wireless Holdings, Inc.
*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
7.58%
|
|
10/2021
|
|
7,278
|
|
|
7,190
|
|
|
0.9
|
|
|
7,278
|
|
||||
NetMotion Wireless Holdings, Inc.
(4)
|
One stop
|
|
L + 6.25%
|
|
|
N/A
(5)
|
|
10/2021
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
7,278
|
|
|
7,189
|
|
|
0.9
|
|
|
7,278
|
|
||||
Textile and Leather
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
SHO Holding I Corporation
*
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.24%
|
|
10/2022
|
|
1,917
|
|
|
1,883
|
|
|
0.3
|
|
|
1,917
|
|
||||
SHO Holding I Corporation
|
Senior loan
|
|
L + 4.00%
|
(a)(b)
|
|
5.24%
|
|
10/2021
|
|
16
|
|
|
15
|
|
|
—
|
|
|
15
|
|
||||
|
|
|
|
|
|
|
|
|
|
1,933
|
|
|
1,898
|
|
|
0.3
|
|
|
1,932
|
|
||||
Utilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Arcos, LLC
*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.33%
|
|
02/2021
|
|
3,411
|
|
|
3,386
|
|
|
0.5
|
|
|
3,411
|
|
||||
Arcos, LLC
|
One stop
|
|
L + 6.00%
|
|
|
N/A
(5)
|
|
02/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
PowerPlan Holdings, Inc.
*
|
Senior loan
|
|
L + 5.25%
|
(a)
|
|
6.49%
|
|
02/2022
|
|
2,522
|
|
|
2,498
|
|
|
0.3
|
|
|
2,522
|
|
|
Investment
Type
|
|
Spread
Above
Index
(1)
|
|
Interest
Rate
(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares (3) |
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value
(15)
|
|||||||||
Utilities - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
PowerPlan Holdings, Inc.
*
|
Senior loan
|
|
L + 5.25%
|
(a)
|
|
6.49%
|
|
02/2022
|
|
$
|
805
|
|
|
$
|
791
|
|
|
0.1
|
|
%
|
$
|
805
|
|
|
|
|
|
|
|
|
|
|
|
|
6,738
|
|
|
6,675
|
|
|
0.9
|
|
|
6,738
|
|
||||
Total non-controlled/non-affiliate company debt investments
|
|
$
|
1,336,708
|
|
|
$
|
1,318,676
|
|
|
172.8
|
|
%
|
$
|
1,326,950
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Equity investments
(9)(10)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Aerospace and Defense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Whitcraft LLC
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
7
|
|
|
$
|
688
|
|
|
0.1
|
|
%
|
$
|
688
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Automobile
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Polk Acquisition Corp.
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
4
|
|
|
401
|
|
|
—
|
|
|
255
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Beverage, Food and Tobacco
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Cafe Rio Holding, Inc.
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
3
|
|
|
283
|
|
|
—
|
|
|
283
|
|
||||
Hopdoddy Holdings, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
17
|
|
|
84
|
|
|
—
|
|
|
57
|
|
||||
Hopdoddy Holdings, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
8
|
|
|
24
|
|
|
—
|
|
|
16
|
|
||||
P&P Food Safety US Acquisition, Inc.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
2
|
|
|
203
|
|
|
—
|
|
|
209
|
|
||||
Purfoods, LLC
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
355
|
|
|
355
|
|
|
0.1
|
|
|
383
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
949
|
|
|
0.1
|
|
|
948
|
|
|||||
Chemicals, Plastics and Rubber
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Flexan, LLC
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
40
|
|
|
—
|
|
|
48
|
|
||||
Flexan, LLC
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
—
|
|
|
—
|
|
|
8
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
40
|
|
|
—
|
|
|
56
|
|
|||||
Diversified/Conglomerate Manufacturing
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Inventus Power, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
259
|
|
|
—
|
|
|
—
|
|
||||
Inventus Power, Inc.
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Reladyne, Inc.
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
242
|
|
|
0.1
|
|
|
450
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
501
|
|
|
0.1
|
|
|
450
|
|
|||||
Diversified/Conglomerate Service
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Accela, Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
374
|
|
|
374
|
|
|
0.1
|
|
|
374
|
|
||||
Actiance, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
248
|
|
|
59
|
|
|
—
|
|
|
86
|
|
||||
Agility Recovery Solutions Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
30
|
|
|
152
|
|
|
—
|
|
|
191
|
|
||||
Bomgar Corporation
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
620
|
|
|
0.1
|
|
|
694
|
|
||||
Bomgar Corporation
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
415
|
|
|
6
|
|
|
—
|
|
|
33
|
|
||||
HealthcareSource HR, Inc.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
165
|
|
|
—
|
|
|
176
|
|
||||
Host Analytics, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
154
|
|
|
58
|
|
|
—
|
|
|
123
|
|
||||
Maverick Bidco Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
597
|
|
|
0.1
|
|
|
597
|
|
||||
MMan Acquisition Co.
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
334
|
|
|
334
|
|
|
—
|
|
|
334
|
|
||||
Project Alpha Intermediate Holding, Inc.
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
399
|
|
|
0.1
|
|
|
440
|
|
||||
Project Alpha Intermediate Holding, Inc.
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
99
|
|
|
4
|
|
|
—
|
|
|
4
|
|
||||
Quickbase, Inc.
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
615
|
|
|
412
|
|
|
0.1
|
|
|
808
|
|
||||
Switchfly, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
79
|
|
|
114
|
|
|
—
|
|
|
181
|
|
||||
Verisys Corporation
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
318
|
|
|
318
|
|
|
0.1
|
|
|
346
|
|
||||
Workforce Software, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1,309
|
|
|
1,309
|
|
|
0.2
|
|
|
1,519
|
|
||||
Xmatters, Inc. and Alarmpoint, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
41
|
|
|
33
|
|
|
—
|
|
|
30
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
4,954
|
|
|
0.8
|
|
|
5,936
|
|
|||||
Ecological
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Pace Analytical Services, LLC
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
3
|
|
|
302
|
|
|
—
|
|
|
362
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Electronics
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Diligent Corporation
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
535
|
|
|
424
|
|
|
0.1
|
|
|
779
|
|
||||
Gamma Technologies, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
82
|
|
|
—
|
|
|
201
|
|
|
Investment
Type
|
|
Spread
Above
Index
(1)
|
|
Interest
Rate
(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares (3) |
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value
(15)
|
|||||||||
Printing and Publishing
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Brandmuscle, Inc.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
$
|
207
|
|
|
$
|
—
|
|
%
|
$
|
203
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Retail Stores
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Batteries Plus Holding Corporation
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
5
|
|
|
505
|
|
|
0.1
|
|
|
653
|
|
||||
Cycle Gear, Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
8
|
|
|
111
|
|
|
—
|
|
|
169
|
|
||||
Elite Sportswear, L.P.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
70
|
|
|
—
|
|
|
43
|
|
||||
Feeders Supply Company, LLC
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
2
|
|
|
179
|
|
|
—
|
|
|
204
|
|
||||
Feeders Supply Company, LLC
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
—
|
|
|
—
|
|
|
97
|
|
||||
Pet Holdings ULC
(7)(8)
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
222
|
|
|
188
|
|
|
0.1
|
|
|
228
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
1,053
|
|
|
0.2
|
|
|
1,394
|
|
|||||
Utilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
PowerPlan Holdings, Inc.
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
116
|
|
|
—
|
|
|
116
|
|
||||
PowerPlan Holdings, Inc.
|
Common stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
68
|
|
|
1
|
|
|
—
|
|
|
120
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
117
|
|
|
—
|
|
|
236
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Total non-controlled/non-affiliate company equity investments
|
|
$
|
17,733
|
|
|
2.7
|
|
%
|
$
|
20,647
|
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Total non-controlled/non-affiliate company investments
|
|
$
|
1,336,708
|
|
|
$
|
1,336,409
|
|
|
175.5
|
|
%
|
$
|
1,347,597
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Controlled affiliate company investments
(12)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Equity investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Investment Funds and Vehicles
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
GCIC Senior Loan Fund LLC
(7)(13)
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
|
|
$
|
49,800
|
|
|
6.5
|
|
%
|
$
|
50,104
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Total controlled affiliate company equity investments
|
|
$
|
49,800
|
|
|
6.5
|
|
%
|
$
|
50,104
|
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Total controlled affiliate company investments
|
|
$
|
49,800
|
|
|
6.5
|
|
%
|
$
|
50,104
|
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Total investments
|
|
$
|
1,336,708
|
|
|
$
|
1,386,209
|
|
|
182.0
|
|
%
|
$
|
1,397,701
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Cash and cash equivalents and restricted cash and cash equivalents
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Cash and restricted cash
|
|
$
|
47,487
|
|
|
6.8
|
|
%
|
$
|
47,487
|
|
|||||||||||||
BlackRock Liquidity Funds T-Fund Institutional Shares (CUSIP 09248U718)
|
|
|
0.91%
(14)
|
|
|
|
|
|
|
3,644
|
|
|
0.1
|
|
|
3,644
|
|
|||||||
Total cash and cash equivalents and restricted cash and cash equivalents
|
|
$
|
51,131
|
|
|
6.9
|
|
%
|
$
|
51,131
|
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Total investments and cash and cash equivalents and restricted cash and cash equivalents
|
|
$
|
1,437,340
|
|
|
188.9
|
|
%
|
$
|
1,448,832
|
|
|
#
|
|
Denotes that all or a portion of the investment collateralizes the Credit Facility (as defined in Note 7).
|
*
|
|
Denotes that all or a portion of the investment secures the notes offered in the GCIC 2016 Debt Securitization (as defined in Note 7).
|
(1)
|
The majority of the investments bear interest at a rate that may be determined by reference to LIBOR or Prime and which reset daily, monthly, quarterly or semiannually. For each, the Company has provided the spread over LIBOR or Prime and the weighted average current interest rate in effect as of September 30, 2017. Certain investments are subject to a LIBOR or Prime interest rate floor. For fixed rate loans, a spread above a reference rate is not applicable. Listed below are the index rates as of September 29, 2017, which was the last business day of the period on which LIBOR was determined. The actual index rate for each loan listed may not be the applicable index rate outstanding as of September 30, 2017, as the loan may have priced or repriced based on an index rate prior to September 29, 2017.
|
(2)
|
For portfolio companies with multiple interest rate contracts, the interest rate shown is a weighted average current interest rate in effect as of
September 30, 2017
.
|
(3)
|
The total principal amount is presented for debt investments while the number of shares or units owned is presented for equity investments.
|
(4)
|
The negative fair value is the result of the capitalized discount on the loan or the unfunded commitment being valued below par. The negative amortized cost is the result of the capitalized discount being greater than the principal amount outstanding on the loan.
|
(5)
|
The entire commitment was unfunded as of September 30, 2017. As such, no interest is being earned on this investment. The investment may be subject to an unused facility fee.
|
(6)
|
Loan was on non-accrual status as of September 30, 2017, meaning that the Company has ceased recognizing interest income on the loan.
|
(7)
|
The investment is treated as a non-qualifying asset under Section 55(a) of the 1940 Act. Under the 1940 Act, the Company may not acquire any non-qualifying asset unless, at the time the acquisition is made, qualifying assets represent at least 70% of the Company’s total assets. As of September 30, 2017, total non-qualifying assets at fair value represented
5.9%
of the Company’s assets calculated in accordance with the 1940 Act.
|
(8)
|
The headquarters of this portfolio company is located in Canada.
|
(9)
|
Equity investments are non-income producing securities unless otherwise noted.
|
(10)
|
Ownership of certain equity investments may occur through a holding company or partnership.
|
(11)
|
The Company holds an equity investment that entitles it to receive preferential dividends.
|
Portfolio
Company |
|
Fair value as of September 30, 2016
|
|
Purchases
(cost) |
|
Redemptions
(cost) |
|
Discount
accretion |
|
Net change in unrealized
gain/(loss) |
|
Fair value as of September 30, 2017
|
|
Net realized gain/(loss)
|
|
Interest and
fee income |
|
Dividend
income |
||||||||||||||||||
GCIC Senior Loan Fund LLC
(f)
|
|
$
|
47,956
|
|
|
$
|
46,344
|
|
|
$
|
(43,719
|
)
|
|
$
|
—
|
|
|
$
|
(477
|
)
|
|
$
|
50,104
|
|
|
$
|
—
|
|
|
$
|
732
|
|
|
$
|
3,950
|
|
Total Controlled Affiliates
|
|
$
|
47,956
|
|
|
$
|
46,344
|
|
|
$
|
(43,719
|
)
|
|
$
|
—
|
|
|
$
|
(477
|
)
|
|
$
|
50,104
|
|
|
$
|
—
|
|
|
$
|
732
|
|
|
$
|
3,950
|
|
(13)
|
The Company receives quarterly profit distributions from its equity investment in GCIC SLF. See Note
5
. Investments.
|
(14)
|
The rate shown is the annualized seven-day yield as of
September 30, 2017
.
|
(15)
|
The fair value of the investment was valued using significant unobservable inputs. See Note
6
. Fair Value Measurements.
|
|
|
|
|
|
|
(1)
|
cash and cash equivalents, fair value of investments, interest receivable, and other assets—at the spot exchange rate on the last business day of the period; and
|
(2)
|
purchases and sales of investments, income and expenses—at the exchange rates prevailing on the respective dates of such transactions.
|
|
|
|
|
|
|
|
|
|
|
As of March 31, 2018
|
|
As of September 30, 2017
|
||||||||||||
|
Subscriptions
|
|
Contributions
|
|
Subscriptions
|
|
Contributions
|
||||||||
GCIC Stockholders
|
$
|
1,245,837
|
|
|
$
|
797,746
|
|
|
$
|
1,301,643
|
|
|
$
|
716,004
|
|
Total
|
$
|
1,245,837
|
|
|
$
|
797,746
|
|
|
$
|
1,301,643
|
|
|
$
|
716,004
|
|
|
|
|
|
Date
|
|
Shares Issued
|
|
NAV ($) per share
|
|
Proceeds
|
|||||
Shares outstanding, September 30, 2016
|
|
|
41,087,178.250
|
|
|
$
|
15.00
|
|
|
$
|
616,307
|
|
Issuance of shares
(1)
|
11/21/2016
|
|
355,195.794
|
|
|
15.00
|
|
|
5,329
|
|
||
Issuance of shares
(1)
|
12/30/2016
|
|
327,120.972
|
|
|
15.00
|
|
|
4,907
|
|
||
Issuance of shares
(1)
|
02/27/2017
|
|
335,502.470
|
|
|
15.00
|
|
|
5,032
|
|
||
Shares issued through DRIP
|
|
|
1,017,819.236
|
|
|
$
|
15.00
|
|
|
$
|
15,268
|
|
Shares outstanding, March 31, 2017
|
|
|
42,104,997.486
|
|
|
$
|
15.00
|
|
|
$
|
631,575
|
|
|
|
|
|
|
|
|
|
|||||
Shares outstanding, September 30, 2017
|
|
|
51,214,683.496
|
|
|
$
|
15.00
|
|
|
$
|
768,220
|
|
Issuance of shares
|
12/01/2017
|
|
2,223,285.533
|
|
|
15.00
|
|
|
33,349
|
|
||
Issuance of shares
|
01/29/2017
|
|
1,407,782.320
|
|
|
15.00
|
|
|
21,116
|
|
||
Issuance of shares
|
02/26/2018
|
|
1,818,340.200
|
|
|
15.00
|
|
|
27,276
|
|
||
Shares issued for capital drawdowns
|
|
|
5,449,408.053
|
|
|
$
|
15.00
|
|
|
$
|
81,741
|
|
Issuance of shares
(1)
|
11/27/2017
|
|
291,564.353
|
|
|
15.00
|
|
|
4,374
|
|
||
Issuance of shares
(1)
|
12/28/2017
|
|
393,201.972
|
|
|
15.00
|
|
|
5,898
|
|
||
Issuance of shares
(1)
|
02/26/2018
|
|
470,835.576
|
|
|
15.00
|
|
|
7,062
|
|
||
Shares issued through DRIP
|
|
|
1,155,601.901
|
|
|
$
|
15.00
|
|
|
$
|
17,334
|
|
Shares outstanding, March 31, 2018
|
|
|
57,819,693.450
|
|
|
$
|
15.00
|
|
|
$
|
867,295
|
|
|
(1)
|
Shares issued through the DRIP.
|
|
|
|
•
|
Zero in any calendar quarter in which the Pre-Incentive Fee Net Investment Income does not exceed the hurdle rate;
|
•
|
50.0% of the Company’s Pre-Incentive Fee Net Investment Income with respect to that portion of such Pre-Incentive Fee Net Investment Income, if any, that exceeds the hurdle rate but is less than the percentage at which the amount payable to the Investment Adviser equals 20.0% of the Pre-Incentive Fee Net Investment Income as if a hurdle rate did not apply. This portion of the Company’s Pre-Incentive Fee Net Investment Income that exceeds the hurdle rate is referred to as the “catch-up” provision; and
|
•
|
20.0% of the amount of the Company’s Pre-Incentive Fee Net Investment Income, if any, that exceeds the catch-up provision in any calendar quarter.
|
|
|
|
•
|
zero in any calendar quarter in which the Pre-Incentive Fee Net Investment Income does not exceed the hurdle rate;
|
•
|
50.0% of the Company’s Pre-Incentive Fee Net Investment Income with respect to that portion of such Pre-Incentive Fee Net Investment Income, if any, that exceeds the hurdle rate but is less than the percentage at which the amount payable to the Investment Adviser equals to 15.0% of the Pre-Incentive Fee Net Investment Income as if a hurdle rate did not apply. This portion of the Company’s Pre-Incentive Fee Net Investment Income that exceeds the hurdle rate is referred to as the “catch-up” provision; and
|
•
|
15.0% of the amount of the Company’s Pre-Incentive Fee Net Investment Income, if any, that exceeds the catch-up provision in any calendar quarter.
|
•
|
The cumulative aggregate realized capital losses are calculated as the sum of the amounts by which (a) the net sales price of each investment in the Company’s portfolio when sold is less than (b) the accreted or amortized cost basis of such investment.
|
•
|
The cumulative aggregate realized capital gains are calculated as the sum of the differences, if positive, between (a) the net sales price of each investment in the Company’s portfolio when sold and (b) the accreted or amortized cost basis of such investment.
|
•
|
The aggregate unrealized capital depreciation is calculated as the sum of the differences, if negative, between (a) the valuation of each investment in the Company’s portfolio as of the applicable Capital Gain Incentive Fee calculation date and (b) the accreted or amortized cost basis of such investment.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of March 31, 2018
|
|
As of September 30, 2017
|
||||||||||||||||||||
|
Principal
|
|
Amortized
Cost
|
|
Fair
Value
|
|
Principal
|
|
Amortized
Cost
|
|
Fair
Value
|
||||||||||||
Senior secured
|
$
|
157,228
|
|
|
$
|
155,565
|
|
|
$
|
154,479
|
|
|
$
|
167,646
|
|
|
$
|
165,642
|
|
|
$
|
165,620
|
|
One stop
|
1,338,371
|
|
|
1,320,759
|
|
|
1,330,840
|
|
|
1,169,007
|
|
|
1,152,979
|
|
|
1,161,275
|
|
||||||
Subordinated debt
|
57
|
|
|
57
|
|
|
57
|
|
|
55
|
|
|
55
|
|
|
55
|
|
||||||
LLC equity interests in GCIC SLF
(1)
|
N/A
|
|
|
61,700
|
|
|
63,484
|
|
|
N/A
|
|
|
49,800
|
|
|
50,104
|
|
||||||
Equity
|
N/A
|
|
|
20,099
|
|
|
25,764
|
|
|
N/A
|
|
|
17,733
|
|
|
20,647
|
|
||||||
Total
|
$
|
1,495,656
|
|
|
$
|
1,558,180
|
|
|
$
|
1,574,624
|
|
|
$
|
1,336,708
|
|
|
$
|
1,386,209
|
|
|
$
|
1,397,701
|
|
|
(1)
|
GCIC SLF’s proceeds from the LLC equity interests invested in GCIC SLF were utilized by GCIC SLF to invest in senior secured loans.
|
|
As of March 31, 2018
|
|
As of September 30, 2017
|
||||||||||
Amortized Cost:
|
|
|
|
|
|
|
|
|
|
|
|
||
United States
|
|
|
|
|
|
|
|
|
|
|
|
||
Mid-Atlantic
|
$
|
308,252
|
|
|
19.8
|
%
|
|
$
|
248,290
|
|
|
17.9
|
%
|
Midwest
|
326,266
|
|
|
20.9
|
|
|
358,990
|
|
|
25.9
|
|
||
West
|
214,019
|
|
|
13.7
|
|
|
181,740
|
|
|
13.1
|
|
||
Southeast
|
334,602
|
|
|
21.5
|
|
|
286,057
|
|
|
20.6
|
|
||
Southwest
|
154,422
|
|
|
9.9
|
|
|
122,242
|
|
|
8.8
|
|
||
Northeast
|
188,635
|
|
|
12.1
|
|
|
156,817
|
|
|
11.3
|
|
||
Canada
|
31,984
|
|
|
2.1
|
|
|
32,073
|
|
|
2.4
|
|
||
Total
|
$
|
1,558,180
|
|
|
100.0
|
%
|
|
$
|
1,386,209
|
|
|
100.0
|
%
|
|
|
|
|
|
|
|
|
||||||
Fair Value:
|
|
|
|
|
|
|
|
|
|
|
|
||
United States
|
|
|
|
|
|
|
|
|
|
|
|
||
Mid-Atlantic
|
$
|
312,958
|
|
|
19.9
|
%
|
|
$
|
251,278
|
|
|
18.0
|
%
|
Midwest
|
325,667
|
|
|
20.7
|
|
|
358,219
|
|
|
25.6
|
|
||
West
|
216,876
|
|
|
13.8
|
|
|
184,438
|
|
|
13.2
|
|
||
Southeast
|
338,174
|
|
|
21.5
|
|
|
288,780
|
|
|
20.7
|
|
||
Southwest
|
155,560
|
|
|
9.9
|
|
|
122,670
|
|
|
8.8
|
|
||
Northeast
|
192,848
|
|
|
12.2
|
|
|
159,684
|
|
|
11.4
|
|
||
Canada
|
32,541
|
|
|
2.0
|
|
|
32,632
|
|
|
2.3
|
|
||
Total
|
$
|
1,574,624
|
|
|
100.0
|
%
|
|
$
|
1,397,701
|
|
|
100.0
|
%
|
|
|
|
|
As of March 31, 2018
|
|
As of September 30, 2017
|
||||||||||
Amortized Cost:
|
|
|
|
|
|
|
|
|
|
|
|
||
Aerospace and Defense
|
$
|
25,754
|
|
|
1.7
|
%
|
|
$
|
22,539
|
|
|
1.6
|
%
|
Automobile
|
44,953
|
|
|
2.9
|
|
|
58,138
|
|
|
4.2
|
|
||
Beverage, Food and Tobacco
|
82,605
|
|
|
5.3
|
|
|
69,045
|
|
|
5.0
|
|
||
Broadcasting and Entertainment
|
685
|
|
|
0.0
|
*
|
|
688
|
|
|
0.0
|
*
|
||
Buildings and Real Estate
|
49,483
|
|
|
3.2
|
|
|
49,135
|
|
|
3.6
|
|
||
Chemicals, Plastics and Rubber
|
1,087
|
|
|
0.1
|
|
|
1,075
|
|
|
0.1
|
|
||
Diversified/Conglomerate Manufacturing
|
46,851
|
|
|
3.0
|
|
|
44,499
|
|
|
3.2
|
|
||
Diversified/Conglomerate Service
|
415,026
|
|
|
26.6
|
|
|
285,360
|
|
|
20.6
|
|
||
Ecological
|
20,348
|
|
|
1.3
|
|
|
18,304
|
|
|
1.3
|
|
||
Electronics
|
117,618
|
|
|
7.6
|
|
|
123,756
|
|
|
8.9
|
|
||
Grocery
|
120
|
|
|
0.0
|
*
|
|
123
|
|
|
0.0
|
*
|
||
Healthcare, Education and Childcare
|
320,429
|
|
|
20.6
|
|
|
270,217
|
|
|
19.5
|
|
||
Home and Office Furnishings, Housewares, and Durable Consumer
|
9,719
|
|
|
0.6
|
|
|
10,187
|
|
|
0.7
|
|
||
Hotels, Motels, Inns, and Gaming
|
5,000
|
|
|
0.3
|
|
|
11,138
|
|
|
0.8
|
|
||
Insurance
|
46,215
|
|
|
3.0
|
|
|
32,050
|
|
|
2.3
|
|
||
Investment Funds and Vehicles
|
61,700
|
|
|
4.0
|
|
|
49,800
|
|
|
3.6
|
|
||
Leisure, Amusement, Motion Pictures, Entertainment
|
51,783
|
|
|
3.3
|
|
|
52,209
|
|
|
3.8
|
|
||
Mining, Steel, Iron and Non-Precious Metals
|
196
|
|
|
0.0
|
*
|
|
208
|
|
|
0.0
|
*
|
||
Oil and Gas
|
26,303
|
|
|
1.7
|
|
|
16,948
|
|
|
1.2
|
|
||
Personal and Non Durable Consumer Products (Mfg. Only)
|
29,563
|
|
|
1.9
|
|
|
29,474
|
|
|
2.1
|
|
||
Personal, Food and Miscellaneous Services
|
99,313
|
|
|
6.4
|
|
|
98,161
|
|
|
7.1
|
|
||
Printing and Publishing
|
738
|
|
|
0.0
|
*
|
|
20,899
|
|
|
1.5
|
|
||
Retail Stores
|
87,772
|
|
|
5.6
|
|
|
106,377
|
|
|
7.7
|
|
||
Telecommunications
|
6,357
|
|
|
0.4
|
|
|
7,189
|
|
|
0.5
|
|
||
Textiles and Leather
|
1,891
|
|
|
0.1
|
|
|
1,898
|
|
|
0.2
|
|
||
Utilities
|
6,671
|
|
|
0.4
|
|
|
6,792
|
|
|
0.5
|
|
||
Total
|
$
|
1,558,180
|
|
|
100.0
|
%
|
|
$
|
1,386,209
|
|
|
100.0
|
%
|
|
|
|
|
As of March 31, 2018
|
|
As of September 30, 2017
|
||||||||||
Fair Value:
|
|
|
|
|
|
|
|
|
|
|
|
||
Aerospace and Defense
|
$
|
26,218
|
|
|
1.7
|
%
|
|
$
|
22,970
|
|
|
1.7
|
%
|
Automobile
|
44,541
|
|
|
2.8
|
|
|
58,724
|
|
|
4.2
|
|
||
Beverage, Food and Tobacco
|
83,253
|
|
|
5.3
|
|
|
69,322
|
|
|
5.0
|
|
||
Broadcasting and Entertainment
|
693
|
|
|
0.0
|
*
|
|
694
|
|
|
0.1
|
|
||
Buildings and Real Estate
|
49,550
|
|
|
3.2
|
|
|
49,333
|
|
|
3.5
|
|
||
Chemicals, Plastics and Rubber
|
1,103
|
|
|
0.1
|
|
|
1,099
|
|
|
0.1
|
|
||
Diversified/Conglomerate Manufacturing
|
45,538
|
|
|
2.9
|
|
|
43,639
|
|
|
3.1
|
|
||
Diversified/Conglomerate Service
|
422,225
|
|
|
26.8
|
|
|
289,884
|
|
|
20.7
|
|
||
Ecological
|
20,645
|
|
|
1.3
|
|
|
18,700
|
|
|
1.3
|
|
||
Electronics
|
120,241
|
|
|
7.6
|
|
|
125,426
|
|
|
9.0
|
|
||
Grocery
|
120
|
|
|
0.0
|
*
|
|
124
|
|
|
0.0
|
*
|
||
Healthcare, Education and Childcare
|
320,129
|
|
|
20.3
|
|
|
271,283
|
|
|
19.4
|
|
||
Home and Office Furnishings, Housewares, and Durable Consumer
|
9,108
|
|
|
0.6
|
|
|
9,293
|
|
|
0.7
|
|
||
Hotels, Motels, Inns, and Gaming
|
5,081
|
|
|
0.3
|
|
|
11,345
|
|
|
0.8
|
|
||
Insurance
|
47,399
|
|
|
3.0
|
|
|
32,706
|
|
|
2.4
|
|
||
Investment Funds and Vehicles
|
63,484
|
|
|
4.0
|
|
|
50,104
|
|
|
3.6
|
|
||
Leisure, Amusement, Motion Pictures and Entertainment
|
52,222
|
|
|
3.3
|
|
|
52,466
|
|
|
3.8
|
|
||
Mining, Steel, Iron and Non-Precious Metals
|
172
|
|
|
0.0
|
*
|
|
160
|
|
|
0.0
|
*
|
||
Oil and Gas
|
26,499
|
|
|
1.7
|
|
|
16,919
|
|
|
1.2
|
|
||
Personal and Non-Durable Consumer Products (Mfg. Only)
|
29,708
|
|
|
1.9
|
|
|
29,624
|
|
|
2.1
|
|
||
Personal, Food and Miscellaneous Services
|
101,136
|
|
|
6.4
|
|
|
98,359
|
|
|
7.0
|
|
||
Printing and Publishing
|
720
|
|
|
0.1
|
|
|
21,385
|
|
|
1.5
|
|
||
Retail Stores
|
89,461
|
|
|
5.7
|
|
|
107,958
|
|
|
7.7
|
|
||
Telecommunications
|
6,452
|
|
|
0.4
|
|
|
7,278
|
|
|
0.5
|
|
||
Textiles and Leather
|
1,882
|
|
|
0.1
|
|
|
1,932
|
|
|
0.1
|
|
||
Utilities
|
7,044
|
|
|
0.5
|
|
|
6,974
|
|
|
0.5
|
|
||
Total
|
$
|
1,574,624
|
|
|
100.0
|
%
|
|
$
|
1,397,701
|
|
|
100.0
|
%
|
|
|
|
|
As of March 31, 2018
|
|
As of September 30, 2017
|
||||||||||||
|
Committed
|
|
Funded
(1)
|
|
Committed
|
|
Funded
(1)
|
||||||||
LLC equity commitments
|
$
|
125,000
|
|
|
$
|
70,514
|
|
|
$
|
125,000
|
|
|
$
|
56,914
|
|
Total
|
$
|
125,000
|
|
|
$
|
70,514
|
|
|
$
|
125,000
|
|
|
$
|
56,914
|
|
|
(1)
|
Funded LLC equity commitments are presented net of return of capital distributions subject to recall.
|
|
As of
|
|
As of
|
||||
|
March 31, 2018
|
|
September 30, 2017
|
||||
Senior secured loans
(1)
|
$
|
184,840
|
|
|
$
|
162,815
|
|
Weighted average current interest rate on senior secured loans
(2)
|
7.1
|
%
|
|
6.4
|
%
|
||
Number of borrowers in GCIC SLF
|
42
|
|
|
40
|
|
||
Largest portfolio company investments
(1)
|
$
|
8,882
|
|
|
$
|
8,928
|
|
Total of five largest portfolio company investments
(1)
|
$
|
39,336
|
|
|
$
|
39,540
|
|
|
(1)
|
At principal amount.
|
(2)
|
Computed as the (a) annual stated interest rate on accruing senior secured loans divided by (b) total senior secured loans at principal amount.
|
|
|
|
GCIC SLF Investment Portfolio as of March 31, 2018
|
|||||||||||||||||
Portfolio Company
|
|
Business Description
|
|
Security Type
|
|
Maturity
Date
|
|
Current
Interest
Rate
(1)
|
|
Principal ($)
|
|
Fair
Value
(2)
|
|||||
1A Smart Start LLC
|
|
Home and Office Furnishings, Housewares, and Durable Consumer
|
|
Senior loan
|
|
02/2022
|
|
6.6
|
%
|
|
$
|
1,344
|
|
|
$
|
1,347
|
|
1A Smart Start LLC
(3)
|
|
Home and Office Furnishings, Housewares, and Durable Consumer
|
|
Senior loan
|
|
02/2022
|
|
6.4
|
|
|
597
|
|
|
598
|
|
||
Aimbridge Hospitality, LLC
(3)
|
|
Hotels, Motels, Inns, and Gaming
|
|
Senior loan
|
|
06/2022
|
|
7.4
|
|
|
5,970
|
|
|
5,970
|
|
||
Aimbridge Hospitality, LLC
(3)
|
|
Hotels, Motels, Inns, and Gaming
|
|
Senior loan
|
|
06/2022
|
|
7.4
|
|
|
238
|
|
|
238
|
|
||
Boot Barn, Inc.
|
|
Retail Stores
|
|
Senior loan
|
|
06/2021
|
|
6.8
|
|
|
5,285
|
|
|
5,285
|
|
||
Brandmuscle, Inc.
|
|
Printing and Publishing
|
|
Senior loan
|
|
12/2021
|
|
7.1
|
|
|
4,023
|
|
|
4,019
|
|
||
Captain D's, LLC
(3)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
12/2023
|
|
6.4
|
|
|
5,985
|
|
|
5,985
|
|
||
Captain D's, LLC
(3)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
12/2023
|
|
7.1
|
|
|
17
|
|
|
17
|
|
||
CLP Healthcare Services, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
7.4
|
|
|
2,039
|
|
|
1,998
|
|
||
CLP Healthcare Services, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
7.4
|
|
|
1,027
|
|
|
1,007
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
|
2,085
|
|
|
2,085
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
|
1,048
|
|
|
1,048
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
|
59
|
|
|
59
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
|
40
|
|
|
40
|
|
||
Curo Health Services LLC
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
02/2022
|
|
5.8
|
|
|
4,850
|
|
|
4,841
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
7.6
|
|
|
3,078
|
|
|
3,085
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
7.3
|
|
|
1,238
|
|
|
1,232
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
7.6
|
|
|
637
|
|
|
638
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
7.3
|
|
|
377
|
|
|
376
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
7.6
|
|
|
217
|
|
|
217
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
7.6
|
|
|
97
|
|
|
97
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
7.6
|
|
|
93
|
|
|
93
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
06/2018
|
|
7.3
|
|
|
20
|
|
|
20
|
|
||
Encore GC Acquisition, LLC
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
01/2020
|
|
7.8
|
|
|
2,097
|
|
|
2,097
|
|
||
Flexan, LLC
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
8.1
|
|
|
2,676
|
|
|
2,676
|
|
||
Flexan, LLC
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
8.1
|
|
|
743
|
|
|
743
|
|
||
Flexan, LLC
(3)
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
9.3
|
|
|
209
|
|
|
209
|
|
||
G & H Wire Company, Inc
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
09/2023
|
|
7.4
|
|
|
5,970
|
|
|
5,970
|
|
||
Gamma Technologies, LLC
(3)
|
|
Electronics
|
|
Senior loan
|
|
06/2021
|
|
6.6
|
|
|
4,389
|
|
|
4,389
|
|
||
III US Holdings, LLC
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
09/2022
|
|
8.8
|
|
|
4,975
|
|
|
4,975
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.2
|
|
|
1,973
|
|
|
1,963
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.3
|
|
|
103
|
|
|
102
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.3
|
|
|
55
|
|
|
55
|
|
||
Mills Fleet Farm Group LLC
(3)
|
|
Retail Stores
|
|
Senior loan
|
|
02/2022
|
|
7.4
|
|
|
6,000
|
|
|
6,000
|
|
||
NBC Intermediate, LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
09/2023
|
|
6.4
|
|
|
2,709
|
|
|
2,709
|
|
||
NBC Intermediate, LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
09/2023
|
|
8.3
|
|
|
1
|
|
|
1
|
|
||
Pasternack Enterprises, Inc. and Fairview Microwave, Inc
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
05/2022
|
|
6.9
|
|
|
4,988
|
|
|
4,988
|
|
||
Polk Acquisition Corp.
(3)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
6.9
|
|
|
8,254
|
|
|
8,089
|
|
||
Polk Acquisition Corp.
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.2
|
|
|
80
|
|
|
78
|
|
||
Polk Acquisition Corp.
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
6.9
|
|
|
53
|
|
|
52
|
|
||
PowerPlan Holdings, Inc.
(3)
|
|
Utilities
|
|
Senior loan
|
|
02/2022
|
|
7.1
|
|
|
7,126
|
|
|
7,126
|
|
||
Premise Health Holding Corp.
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
06/2020
|
|
6.8
|
|
|
5,895
|
|
|
5,895
|
|
||
Pyramid Healthcare, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2019
|
|
8.3
|
|
|
2,464
|
|
|
2,464
|
|
||
Pyramid Healthcare, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2019
|
|
8.3
|
|
|
167
|
|
|
167
|
|
||
Pyramid Healthcare, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2019
|
|
8.3
|
|
|
149
|
|
|
149
|
|
|
|
|
GCIC SLF Investment Portfolio as of March 31, 2018 - (continued)
|
|||||||||||||||||
Portfolio Company
|
|
Business Description
|
|
Security Type
|
|
Maturity
Date
|
|
Current
Interest
Rate
(1)
|
|
Principal ($)
|
|
Fair
Value
(2)
|
|||||
Radiology Partners, Inc.
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2023
|
|
7.6
|
%
|
|
$
|
8,079
|
|
|
$
|
8,079
|
|
Reladyne, Inc.
(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
6.7
|
|
|
6,000
|
|
|
6,000
|
|
||
Reladyne, Inc.
(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
6.8
|
|
|
626
|
|
|
626
|
|
||
Reladyne, Inc.
(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
6.9
|
|
|
19
|
|
|
19
|
|
||
RSC Acquisition, Inc.
(3)
|
|
Insurance
|
|
Senior loan
|
|
11/2022
|
|
6.6
|
|
|
3,314
|
|
|
3,314
|
|
||
RSC Acquisition, Inc.
(3)
|
|
Insurance
|
|
Senior loan
|
|
11/2021
|
|
6.0
|
|
|
25
|
|
|
25
|
|
||
Rubio's Restaurants, Inc.
(3)
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
10/2019
|
|
7.6
|
|
|
1,667
|
|
|
1,667
|
|
||
Rug Doctor LLC
|
|
Personal and Non Durable Consumer Products (Mfg. Only)
|
|
Senior loan
|
|
06/2018
|
|
7.1
|
|
|
1,431
|
|
|
1,431
|
|
||
Saldon Holdings, Inc.
(3)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
09/2022
|
|
6.5
|
|
|
1,958
|
|
|
1,958
|
|
||
Sarnova HC, LLC
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
01/2022
|
|
6.6
|
|
|
3,284
|
|
|
3,284
|
|
||
SEI, Inc.
(3)
|
|
Electronics
|
|
Senior loan
|
|
07/2023
|
|
7.1
|
|
|
5,204
|
|
|
5,152
|
|
||
Self Esteem Brands, LLC
(3)
|
|
Leisure, Amusement, Motion Pictures, Entertainment
|
|
Senior loan
|
|
02/2020
|
|
6.6
|
|
|
6,138
|
|
|
6,138
|
|
||
Severin Acquisition, LLC
(3)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
07/2021
|
|
6.8
|
|
|
7,808
|
|
|
7,807
|
|
||
Severin Acquisition, LLC
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
07/2021
|
|
6.9
|
|
|
1,074
|
|
|
1,077
|
|
||
Smashburger Finance LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
05/2018
|
|
7.5
|
|
|
5,220
|
|
|
5,220
|
|
||
Smashburger Finance LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
05/2018
|
|
7.5
|
|
|
412
|
|
|
412
|
|
||
Smashburger Finance LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
05/2018
|
|
7.5
|
|
|
411
|
|
|
411
|
|
||
Smashburger Finance LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
05/2018
|
|
7.5
|
|
|
410
|
|
|
410
|
|
||
Smashburger Finance LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
05/2018
|
|
7.5
|
|
|
409
|
|
|
409
|
|
||
Summit Behavioral Healthcare, LLC
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
10/2023
|
|
6.7
|
|
|
5,985
|
|
|
5,985
|
|
||
Summit Behavioral Healthcare, LLC
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
10/2023
|
|
6.8
|
|
|
32
|
|
|
32
|
|
||
Tate's Bake Shop, Inc.
(3)
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
08/2019
|
|
8.6
|
|
|
701
|
|
|
701
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
6.4
|
|
|
1,091
|
|
|
1,091
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.1
|
|
|
855
|
|
|
855
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
6.5
|
|
|
161
|
|
|
161
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
6.5
|
|
|
59
|
|
|
59
|
|
||
Transaction Data Systems, Inc.
(3)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
06/2021
|
|
7.6
|
|
|
3,873
|
|
|
3,873
|
|
||
Transaction Data Systems, Inc.
(3)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
06/2020
|
|
6.8
|
|
|
11
|
|
|
10
|
|
||
Upstream Intermediate, LLC
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
01/2024
|
|
6.8
|
|
|
3,603
|
|
|
3,585
|
|
||
Vendor Credentialing Service LLC
(3)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
11/2021
|
|
7.9
|
|
|
5,955
|
|
|
5,955
|
|
||
WHCG Management, LLC
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
03/2023
|
|
7.1
|
|
|
2,191
|
|
|
2,191
|
|
||
WIRB-Copernicus Group, Inc.
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2022
|
|
6.1
|
|
|
5,394
|
|
|
5,367
|
|
||
|
|
|
|
|
|
|
|
|
|
$
|
184,840
|
|
|
$
|
184,496
|
|
|
(1)
|
Represents the weighted average annual current interest rate as of
March 31, 2018
. All interest rates are payable in cash.
|
(2)
|
Represents the fair value in accordance with ASC Topic 820. The determination of such fair value is not included in the Board's valuation process described elsewhere herein.
|
(3)
|
The Company also holds a portion of the first lien senior secured loan in this portfolio company.
|
|
|
|
GCIC SLF Investment Portfolio as of September 30, 2017
|
|||||||||||||||||
Portfolio Company
|
|
Business Description
|
|
Security Type
|
|
Maturity
Date
|
|
Current
Interest
Rate
(1)
|
|
Principal ($)
|
|
Fair
Value
(2)
|
|||||
1A Smart Start LLC
|
|
Home and Office Furnishings, Housewares, and Durable Consumer
|
|
Senior loan
|
|
02/2022
|
|
6.1
|
%
|
|
$
|
1,351
|
|
|
$
|
1,358
|
|
1A Smart Start LLC
|
|
Home and Office Furnishings, Housewares, and Durable Consumer
|
|
Senior loan
|
|
02/2022
|
|
5.8
|
|
|
599
|
|
|
599
|
|
||
Argon Medical Devices, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2021
|
|
6.0
|
|
|
2,816
|
|
|
2,816
|
|
||
Boot Barn, Inc.
|
|
Retail Stores
|
|
Senior loan
|
|
06/2021
|
|
5.8
|
|
|
5,285
|
|
|
5,285
|
|
||
Brandmuscle, Inc.
|
|
Printing and Publishing
|
|
Senior loan
|
|
12/2021
|
|
6.1
|
|
|
4,172
|
|
|
4,167
|
|
||
CLP Healthcare Services, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
6.6
|
|
|
2,049
|
|
|
2,008
|
|
||
CLP Healthcare Services, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
6.6
|
|
|
1,033
|
|
|
1,012
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
6.8
|
|
|
2,095
|
|
|
2,095
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
6.8
|
|
|
1,053
|
|
|
1,053
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
6.8
|
|
|
59
|
|
|
59
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
6.8
|
|
|
41
|
|
|
41
|
|
||
Curo Health Services LLC
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
02/2022
|
|
5.3
|
|
|
4,875
|
|
|
4,890
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
6.6
|
|
|
3,093
|
|
|
3,100
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
6.3
|
|
|
1,244
|
|
|
1,239
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
6.6
|
|
|
640
|
|
|
641
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
6.6
|
|
|
218
|
|
|
218
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
6.6
|
|
|
97
|
|
|
97
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
6.5
|
|
|
93
|
|
|
93
|
|
||
Elite Sportswear, L.P.
(4)
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
N/A
(5)
|
|
|
—
|
|
|
(2
|
)
|
||
Encore GC Acquisition, LLC
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
01/2020
|
|
6.8
|
|
|
2,108
|
|
|
2,108
|
|
||
Flexan, LLC
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
7.1
|
|
|
2,690
|
|
|
2,690
|
|
||
Flexan, LLC
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
7.1
|
|
|
752
|
|
|
752
|
|
||
Flexan, LLC
(3)
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
8.8
|
|
|
21
|
|
|
21
|
|
||
Gamma Technologies, LLC
(3)
|
|
Electronics
|
|
Senior loan
|
|
06/2021
|
|
6.0
|
|
|
4,411
|
|
|
4,411
|
|
||
Harvey Tool Company, LLC
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
03/2020
|
|
6.1
|
|
|
1,976
|
|
|
1,976
|
|
||
III US Holdings, LLC
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
09/2022
|
|
7.9
|
|
|
5,002
|
|
|
5,002
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
12/2021
|
|
6.3
|
|
|
1,973
|
|
|
1,973
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
12/2021
|
|
6.4
|
|
|
87
|
|
|
87
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
12/2021
|
|
6.4
|
|
|
55
|
|
|
55
|
|
||
Loar Group Inc.
|
|
Aerospace and Defense
|
|
Senior loan
|
|
01/2022
|
|
6.0
|
|
|
1,939
|
|
|
1,939
|
|
||
Loar Group Inc.
|
|
Aerospace and Defense
|
|
Senior loan
|
|
01/2022
|
|
6.0
|
|
|
1,337
|
|
|
1,337
|
|
||
Mills Fleet Farm Group LLC
(3)
|
|
Retail Stores
|
|
Senior loan
|
|
02/2022
|
|
6.7
|
|
|
6,000
|
|
|
6,000
|
|
||
Park Place Technologies LLC
(3)
|
|
Electronics
|
|
Senior loan
|
|
06/2022
|
|
6.3
|
|
|
5,996
|
|
|
5,936
|
|
||
Pasternack Enterprises, Inc. and Fairview Microwave, Inc
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
05/2022
|
|
6.2
|
|
|
5,013
|
|
|
5,013
|
|
||
Polk Acquisition Corp.
(3)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
6.2
|
|
|
8,297
|
|
|
8,131
|
|
||
Polk Acquisition Corp.
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
6.7
|
|
|
83
|
|
|
81
|
|
||
Polk Acquisition Corp.
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
6.2
|
|
|
53
|
|
|
52
|
|
||
PowerPlan Holdings, Inc.
(3)
|
|
Utilities
|
|
Senior loan
|
|
02/2022
|
|
6.5
|
|
|
7,126
|
|
|
7,126
|
|
||
Premise Health Holding Corp.
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
06/2020
|
|
5.8
|
|
|
5,925
|
|
|
5,925
|
|
||
Pyramid Healthcare, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2019
|
|
7.7
|
|
|
2,346
|
|
|
2,346
|
|
||
Pyramid Healthcare, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2019
|
|
7.9
|
|
|
144
|
|
|
144
|
|
||
Radiology Partners, Inc.
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
09/2020
|
|
7.1
|
|
|
7,095
|
|
|
7,095
|
|
||
Radiology Partners, Inc.
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
09/2020
|
|
7.1
|
|
|
542
|
|
|
542
|
|
||
Radiology Partners, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
09/2020
|
|
7.1
|
|
|
460
|
|
|
460
|
|
||
RSC Acquisition, Inc.
(3)
|
|
Insurance
|
|
Senior loan
|
|
11/2022
|
|
6.6
|
|
|
3,323
|
|
|
3,323
|
|
|
|
|
GCIC SLF Investment Portfolio as of September 30, 2017 - (continued)
|
|||||||||||||||||
Portfolio Company
|
|
Business Description
|
|
Security Type
|
|
Maturity
Date
|
|
Current
Interest
Rate
(1)
|
|
Principal ($)
|
|
Fair
Value
(2)
|
|||||
RSC Acquisition, Inc.
|
|
Insurance
|
|
Senior loan
|
|
11/2020
|
|
6.1
|
%
|
|
$
|
15
|
|
|
$
|
15
|
|
Rubio's Restaurants, Inc.
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
11/2018
|
|
6.1
|
|
|
1,676
|
|
|
1,676
|
|
||
Rug Doctor LLC
|
|
Personal and Non Durable Consumer Products (Mfg. Only)
|
|
Senior loan
|
|
06/2018
|
|
6.6
|
|
|
1,501
|
|
|
1,501
|
|
||
Saldon Holdings, Inc.
(3)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
09/2022
|
|
5.8
|
|
|
2,028
|
|
|
2,003
|
|
||
Sarnova HC, LLC
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
01/2022
|
|
6.0
|
|
|
3,301
|
|
|
3,301
|
|
||
SEI, Inc.
(3)
|
|
Electronics
|
|
Senior loan
|
|
07/2021
|
|
6.0
|
|
|
5,217
|
|
|
5,217
|
|
||
Self Esteem Brands, LLC
(3)
|
|
Leisure, Amusement, Motion Pictures, Entertainment
|
|
Senior loan
|
|
02/2020
|
|
6.0
|
|
|
6,443
|
|
|
6,443
|
|
||
Severin Acquisition, LLC
(3)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
07/2021
|
|
6.1
|
|
|
7,848
|
|
|
7,844
|
|
||
Severin Acquisition, LLC
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
07/2021
|
|
6.2
|
|
|
1,079
|
|
|
1,083
|
|
||
Smashburger Finance LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
05/2018
|
|
6.8
|
|
|
5,291
|
|
|
4,603
|
|
||
Smashburger Finance LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
05/2018
|
|
6.8
|
|
|
418
|
|
|
364
|
|
||
Smashburger Finance LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
05/2018
|
|
6.8
|
|
|
417
|
|
|
363
|
|
||
Smashburger Finance LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
05/2018
|
|
6.8
|
|
|
416
|
|
|
362
|
|
||
Smashburger Finance LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
05/2018
|
|
6.8
|
|
|
415
|
|
|
361
|
|
||
Smashburger Finance LLC
(4)
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
05/2018
|
|
N/A
(5)
|
|
|
—
|
|
|
(90
|
)
|
||
Tate's Bake Shop, Inc.
(3)
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
08/2019
|
|
6.3
|
|
|
705
|
|
|
705
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
5.6
|
|
|
1,097
|
|
|
1,097
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
6.1
|
|
|
859
|
|
|
859
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
6.1
|
|
|
165
|
|
|
165
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
6.1
|
|
|
61
|
|
|
61
|
|
||
Transaction Data Systems, Inc.
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
06/2021
|
|
6.6
|
|
|
3,892
|
|
|
3,892
|
|
||
Transaction Data Systems, Inc.
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
06/2020
|
|
5.8
|
|
|
22
|
|
|
21
|
|
||
Vendor Credentialing Service LLC
(3)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
11/2021
|
|
7.2
|
|
|
5,985
|
|
|
5,985
|
|
||
WHCG Management, LLC
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
03/2023
|
|
6.1
|
|
|
2,202
|
|
|
2,202
|
|
||
WIRB-Copernicus Group, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2022
|
|
6.3
|
|
|
5,421
|
|
|
5,421
|
|
||
Young Innovations, Inc.
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
01/2019
|
|
6.3
|
|
|
751
|
|
|
751
|
|
||
Young Innovations, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
01/2019
|
|
6.3
|
|
|
23
|
|
|
23
|
|
||
|
|
|
|
|
|
|
|
|
|
$
|
162,815
|
|
|
$
|
161,522
|
|
|
(1)
|
Represents the weighted average annual current interest rate as of
September 30, 2017
. All interest rates are payable in cash.
|
(2)
|
Represents the fair value in accordance with ASC Topic 820. The determination of such fair value is not included in the Board's valuation process described elsewhere herein.
|
(3)
|
The Company also holds a portion of the first lien senior secured loan in this portfolio company.
|
(4)
|
The negative fair value is the result of the unfunded commitment being valued below par.
|
(5)
|
The entire commitment was unfunded as of
September 30, 2017
. As such, no interest is being earned on this investment. The investment may be subject to an unused facility fee.
|
|
|
|
|
As of
|
|
As of
|
||||
|
March 31, 2018
|
|
September 30, 2017
|
||||
Selected Balance Sheet Information:
|
|
|
|
|
|
||
Investments, at fair value
|
$
|
184,496
|
|
|
$
|
161,522
|
|
Cash and other assets
|
8,996
|
|
|
3,029
|
|
||
Total assets
|
$
|
193,492
|
|
|
$
|
164,551
|
|
Senior credit facility
|
$
|
121,400
|
|
|
$
|
108,150
|
|
Unamortized debt issuance costs
|
(892
|
)
|
|
(1,199
|
)
|
||
Other liabilities
|
431
|
|
|
338
|
|
||
Total liabilities
|
120,939
|
|
|
107,289
|
|
||
Members’ equity
|
72,553
|
|
|
57,262
|
|
||
Total liabilities and members' equity
|
$
|
193,492
|
|
|
$
|
164,551
|
|
|
Three months ended March 31,
|
|
Six months ended March 31,
|
||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Selected Statement of Operations Information:
|
|
|
|
|
|
|
|
|
|
||||||
Interest income
|
$
|
3,222
|
|
|
$
|
2,612
|
|
|
$
|
6,033
|
|
|
$
|
5,053
|
|
Fee income
|
—
|
|
|
—
|
|
|
7
|
|
|
—
|
|
||||
Total investment income
|
3,222
|
|
|
2,612
|
|
|
6,040
|
|
|
5,053
|
|
||||
Interest and other debt financing expenses
|
1,283
|
|
|
903
|
|
|
2,476
|
|
|
2,616
|
|
||||
Administrative service fee
|
62
|
|
|
51
|
|
|
116
|
|
|
106
|
|
||||
Other expenses
|
24
|
|
|
24
|
|
|
58
|
|
|
48
|
|
||||
Total expenses
|
1,369
|
|
|
978
|
|
|
2,650
|
|
|
2,770
|
|
||||
Net investment income
|
1,853
|
|
|
1,634
|
|
|
3,390
|
|
|
2,283
|
|
||||
Net change in unrealized appreciation (depreciation) on investments
|
467
|
|
|
(99
|
)
|
|
1,072
|
|
|
(37
|
)
|
||||
Net increase in members' equity
|
$
|
2,320
|
|
|
$
|
1,535
|
|
|
$
|
4,462
|
|
|
$
|
2,246
|
|
|
|
|
|
|
|
|
|
|
As of March 31, 2018
|
|
Fair Value Measurements Using
|
||||||||||||||
Description
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
Assets, at fair value:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Debt investments
(1)
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,485,376
|
|
|
$
|
1,485,376
|
|
Equity investments
(1)
|
|
—
|
|
|
—
|
|
|
25,764
|
|
|
25,764
|
|
||||
Investment measured at NAV
(3)(4)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
63,484
|
|
||||
Total assets, at fair value:
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,511,140
|
|
|
$
|
1,574,624
|
|
As of September 30, 2017
|
|
Fair Value Measurements Using
|
||||||||||||||
Description
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
Assets, at fair value:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Debt investments
(1)
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,326,950
|
|
|
$
|
1,326,950
|
|
Equity investments
(1)
|
|
—
|
|
|
—
|
|
|
20,647
|
|
|
20,647
|
|
||||
Money market funds
(1)(2)
|
|
3,644
|
|
|
—
|
|
|
—
|
|
|
3,644
|
|
||||
Investment measured at NAV
(3)(4)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
50,104
|
|
||||
Total assets, at fair value:
|
|
$
|
3,644
|
|
|
$
|
—
|
|
|
$
|
1,347,597
|
|
|
$
|
1,401,345
|
|
|
(1)
|
Refer to the Consolidated Schedules of Investments for further details.
|
(2)
|
Included in cash and cash equivalents and restricted cash and cash equivalents on the Consolidated Statements of Financial Condition.
|
(3)
|
Certain investments that are measured at fair value using the NAV per share (or its equivalent) of the underlying investment company as a practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Consolidated Statements of Financial Condition.
|
(4)
|
Represents the Company's investment in LLC equity interest in GCIC SLF. The fair value of this investment has been determined using the NAV of the Company’s ownership interest in members’ capital.
|
|
|
|
|
For the six months ended March 31, 2018
|
||||||||||
|
Debt
Investments
|
|
Equity
Investments
|
|
Total
Investments
|
||||||
Fair value, beginning of period
|
$
|
1,326,950
|
|
|
$
|
20,647
|
|
|
$
|
1,347,597
|
|
Net change in unrealized appreciation (depreciation)
on investments
|
720
|
|
|
2,752
|
|
|
3,472
|
|
|||
Realized gain (loss) on investments
|
(357
|
)
|
|
468
|
|
|
111
|
|
|||
Funding of (proceeds from) revolving loans, net
|
(774
|
)
|
|
—
|
|
|
(774
|
)
|
|||
Fundings of investments
|
344,460
|
|
|
3,072
|
|
|
347,532
|
|
|||
PIK interest
|
919
|
|
|
—
|
|
|
919
|
|
|||
Proceeds from principal payments and sales of portfolio
investments
|
(190,713
|
)
|
|
(1,175
|
)
|
|
(191,888
|
)
|
|||
Accretion of discounts and amortization of premiums
|
4,171
|
|
|
—
|
|
|
4,171
|
|
|||
Fair value, end of period
|
$
|
1,485,376
|
|
|
$
|
25,764
|
|
|
$
|
1,511,140
|
|
|
For the six months ended March 31, 2017
|
||||||||||
|
Debt
Investments
|
|
Equity
Investments
|
|
Total
Investments
|
||||||
Fair value, beginning of period
|
$
|
1,042,600
|
|
|
$
|
14,071
|
|
|
$
|
1,056,671
|
|
Net change in unrealized appreciation (depreciation)
on investments
|
3,101
|
|
|
1,792
|
|
|
4,893
|
|
|||
Realized gain (loss) on investments
|
331
|
|
|
—
|
|
|
331
|
|
|||
Funding of (proceeds from) revolving loans, net
|
829
|
|
|
—
|
|
|
829
|
|
|||
Fundings of investments
|
174,921
|
|
|
1,406
|
|
|
176,327
|
|
|||
PIK interest
|
565
|
|
|
—
|
|
|
565
|
|
|||
Proceeds from principal payments and sales of portfolio
investments
|
(91,944
|
)
|
|
(232
|
)
|
|
(92,176
|
)
|
|||
Noncash proceeds from subordinated notes in GCIC SLF
principal payments
|
(34,917
|
)
|
|
—
|
|
|
(34,917
|
)
|
|||
Accretion of discounts and amortization of premiums
|
2,379
|
|
|
—
|
|
|
2,379
|
|
|||
Fair value, end of period
|
$
|
1,097,865
|
|
|
$
|
17,037
|
|
|
$
|
1,114,902
|
|
|
|
|
Quantitative information about Level 3 Fair Value Measurements
|
|||||||||
|
Fair value as of March 31, 2018
|
|
Valuation Techniques
|
|
Unobservable Input
|
|
Range (Weighted Average)
|
||
Assets:
|
|
|
|
|
|
|
|
|
|
Senior secured loans
(1)
|
$
|
146,307
|
|
|
Market rate approach
|
|
Market interest rate
|
|
5.3% - 37.8% (7.1%)
|
|
|
|
|
Market comparable companies
|
|
EBITDA multiples
|
|
5.0x - 15.0x (11.5x)
|
|
|
8,172
|
|
|
Market comparable
|
|
Broker/dealer bids or quotes
|
|
N/A
|
|
One stop loans
(1)(2)
|
$
|
1,330,815
|
|
|
Market rate approach
|
|
Market interest rate
|
|
4.6% - 17.5% (8.6%)
|
|
|
|
Market comparable companies
|
|
EBITDA multiples
(3)
|
|
4.5x - 35.0x (13.9x)
|
||
|
|
|
|
|
Revenue multiples
(3)
|
|
2.0x - 6.5x (4.6x)
|
||
Subordinated debt
(1)
|
$
|
57
|
|
|
Market rate approach
|
|
Market interest rate
|
|
19.5%
|
|
|
|
|
Market comparable companies
|
|
EBITDA multiples
|
|
11.5x
|
|
Equity
(4)
|
$
|
25,764
|
|
|
Market comparable companies
|
|
EBITDA multiples
(5)
|
|
4.5x - 28.5x (14.1x)
|
|
|
|
|
|
Revenue multiples
(5)
|
|
2.7x - 6.0x (3.0x)
|
|
(1)
|
The fair value of this asset class was determined using the market rate approach as the investments in this asset class were determined not to be credit impaired using the market comparable companies approach. The unobservable inputs for both valuation techniques have been presented, but the fair value as of
March 31, 2018
was determined using the market rate approach.
|
(2)
|
Excludes
$25
of non-accrual loans at fair value, which the Company valued on a liquidation basis.
|
(3)
|
The Company valued
$1,244,954
and
$85,861
of one stop loans using EBITDA and revenue multiples, respectively. All one stop loans were also valued using the market rate approach.
|
(4)
|
Excludes
$63,484
of LLC equity interests in GCIC SLF at fair value, which the Company valued using the NAV.
|
(5)
|
The Company valued
$22,756
and
$3,008
of equity investments using EBITDA and revenue multiples, respectively.
|
|
|
|
Quantitative information about Level 3 Fair Value Measurements
|
|||||||||
|
Fair value as of September 30, 2017
|
|
Valuation Techniques
|
|
Unobservable Input
|
|
Range (Weighted Average)
|
||
Assets:
|
|
|
|
|
|
|
|
|
|
Senior secured loans
(1)
|
$
|
157,645
|
|
|
Market rate approach
|
|
Market interest rate
|
|
5.3% - 12.8% (7.0%)
|
|
|
|
|
Market comparable companies
|
|
EBITDA multiples
|
|
5.0x - 17.5x (11.9x)
|
|
|
7,975
|
|
|
Market comparable
|
|
Broker/dealer bids or quotes
|
|
N/A
|
|
One stop loans
(1)(2)
|
$
|
1,160,964
|
|
|
Market rate approach
|
|
Market interest rate
|
|
2.3% - 39.5% (8.0%)
|
|
|
|
Market comparable companies
|
|
EBITDA multiples
(3)
|
|
4.0x - 35.0x (13.3x)
|
||
|
|
|
|
|
Revenue multiples
(3)
|
|
2.0x - 7.5x (5.1x)
|
||
Subordinated debt
(1)
|
$
|
55
|
|
|
Market rate approach
|
|
Market interest rate
|
|
19.5%
|
|
|
|
|
Market comparable companies
|
|
EBITDA multiples
|
|
11.0x
|
|
Equity
(4)
|
$
|
20,647
|
|
|
Market comparable companies
|
|
EBITDA multiples
(5)
|
|
4.0x - 28.7x (13.6x)
|
|
|
|
|
|
Revenue multiples
(5)
|
|
3.5x - 5.8x (4.2x)
|
|
(1)
|
The fair value of this asset class was determined using the market rate approach as the investments in this asset class were determined not to be credit impaired using the market comparable companies approach. The unobservable inputs for both valuation techniques have been presented, but the fair value as of September 30, 2017 was determined using the market rate approach.
|
(2)
|
Excludes $311 of non-accrual loans at fair value, which the Company valued on a liquidation basis.
|
(3)
|
The Company valued $1,093,222 and $67,742 of one stop loans using EBITDA and revenue multiples, respectively. All one stop loans were also valued using the market rate approach.
|
(4)
|
Excludes $50,104 of LLC equity interests in GCIC SLF at fair value, which the Company valued using the NAV.
|
(5)
|
The Company valued $18,505 and $2,142 of equity investments using EBITDA and revenue multiples, respectively.
|
|
|
|
|
As of March 31, 2018
|
|
As of September 30, 2017
|
||||||||||||
|
Carrying Value
|
|
Fair Value
|
|
Carrying Value
|
|
Fair Value
|
||||||||
Debt
|
$
|
733,300
|
|
|
$
|
733,300
|
|
|
$
|
670,200
|
|
|
$
|
670,200
|
|
|
|
|
|
For the three months ended March 31,
|
|
For the six months ended March 31,
|
||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Stated interest expense
|
$
|
2,452
|
|
|
$
|
2,083
|
|
|
$
|
4,789
|
|
|
$
|
4,037
|
|
Amortization of debt issuance costs
|
188
|
|
|
188
|
|
|
381
|
|
|
379
|
|
||||
Total interest and other debt financing expenses
|
$
|
2,640
|
|
|
$
|
2,271
|
|
|
$
|
5,170
|
|
|
$
|
4,416
|
|
Cash paid for interest expense
|
$
|
2,359
|
|
|
$
|
3,811
|
|
|
$
|
4,664
|
|
|
$
|
3,811
|
|
Annualized average stated interest rate
|
3.9
|
%
|
|
3.3
|
%
|
|
3.8
|
%
|
|
3.2
|
%
|
||||
Average outstanding balance
|
$
|
252,500
|
|
|
$
|
252,500
|
|
|
$
|
252,500
|
|
|
$
|
252,500
|
|
Description
|
|
Class A GCIC 2016 Notes
|
|
Class B GCIC 2016 Notes
|
Type
|
|
Senior Secured Floating Rate
|
|
Senior Secured Floating Rate
|
Amount Outstanding
|
|
$220,000
|
|
$32,500
|
Moody’s Rating
|
|
“Aaa”
|
|
“Aa1”
|
S&P Rating
|
|
“AAA”
|
|
N/A
|
Interest Rate
|
|
LIBOR + 2.15%
|
|
LIBOR + 3.00%
|
|
|
|
|
For the three months ended March 31,
|
|
For the six months ended March 31,
|
||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Stated interest expense
|
$
|
3,896
|
|
|
$
|
1,755
|
|
|
$
|
7,264
|
|
|
$
|
3,110
|
|
Facility fees
|
26
|
|
|
240
|
|
|
94
|
|
|
540
|
|
||||
Amortization of debt issuance costs
|
265
|
|
|
623
|
|
|
545
|
|
|
1,260
|
|
||||
Total interest and other debt financing expenses
|
$
|
4,187
|
|
|
$
|
2,618
|
|
|
$
|
7,903
|
|
|
$
|
4,910
|
|
Cash paid for interest expense and facility fees
|
$
|
3,823
|
|
|
$
|
1,853
|
|
|
$
|
7,032
|
|
|
$
|
3,449
|
|
Annualized average stated interest rate
|
4.0
|
%
|
|
3.1
|
%
|
|
3.8
|
%
|
|
3.0
|
%
|
||||
Average outstanding balance
|
$
|
399,170
|
|
|
$
|
227,686
|
|
|
$
|
382,807
|
|
|
$
|
206,479
|
|
|
|
|
|
For the three months ended March 31,
|
|
For the six months ended March 31,
|
||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Stated interest expense
|
$
|
5
|
|
|
$
|
—
|
|
|
$
|
5
|
|
|
$
|
—
|
|
Cash paid for interest expense
|
$
|
5
|
|
|
$
|
—
|
|
|
$
|
5
|
|
|
$
|
—
|
|
Annualized average stated interest rate
|
1.7
|
%
|
|
N/A
|
|
1.7
|
%
|
|
N/A
|
||||||
Average outstanding balance
|
$
|
1,072
|
|
|
$
|
—
|
|
|
$
|
530
|
|
|
$
|
—
|
|
|
For the three months ended March 31,
|
|
For the six months ended March 31,
|
||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Stated interest expense
|
$
|
600
|
|
|
$
|
353
|
|
|
$
|
1,153
|
|
|
$
|
767
|
|
Amortization of debt issuance costs
|
78
|
|
|
71
|
|
|
158
|
|
|
142
|
|
||||
Total interest and other debt financing expenses
|
$
|
678
|
|
|
$
|
424
|
|
|
$
|
1,311
|
|
|
$
|
909
|
|
Cash paid for interest expense
|
$
|
604
|
|
|
$
|
353
|
|
|
$
|
1,159
|
|
|
$
|
787
|
|
Annualized average stated interest rate
|
3.2
|
%
|
|
2.5
|
%
|
|
3.1
|
%
|
|
2.3
|
%
|
||||
Average outstanding balance
|
$
|
75,000
|
|
|
$
|
58,336
|
|
|
$
|
75,000
|
|
|
$
|
66,759
|
|
|
|
|
|
Payments Due by Period
|
||||||||||||||||||
|
Total
|
|
Less Than
1 Year
|
|
1 – 3 Years
|
|
3 – 5 Years
|
|
More Than
5 Years
|
||||||||||
GCIC 2016 Debt Securitization
|
$
|
252,500
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
252,500
|
|
Credit Facility
|
405,800
|
|
|
—
|
|
|
—
|
|
|
405,800
|
|
|
—
|
|
|||||
SMBC Revolver
|
75,000
|
|
|
75,000
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Revolver
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Total borrowings
|
$
|
733,300
|
|
|
$
|
75,000
|
|
|
$
|
—
|
|
|
$
|
405,800
|
|
|
$
|
252,500
|
|
|
|
|
|
|
Six months ended March 31,
|
|
||||||
Per share data:
(1)
|
|
2018
|
|
2017
|
|
||||
Net asset value at beginning of period
|
|
$
|
15.00
|
|
|
$
|
15.00
|
|
|
Distributions declared:
(2)
|
|
|
|
|
|
||||
From net investment income
|
|
(0.69
|
)
|
|
(0.65
|
)
|
|
||
From capital gains
|
|
(0.02
|
)
|
|
(0.00
|
)
|
(3)
|
||
Net investment income
|
|
0.62
|
|
|
0.52
|
|
|
||
Net realized gain (loss) on investments and foreign currency transactions
|
|
0.00
|
|
(3)
|
0.00
|
|
(3)
|
||
Net change in unrealized appreciation (depreciation) on investments and foreign currency translation
|
|
0.09
|
|
|
0.13
|
|
|
||
Net asset value at end of period
|
|
$
|
15.00
|
|
|
$
|
15.00
|
|
|
Total return based on net asset value per share
(4)
|
|
4.81
|
%
|
|
4.41
|
%
|
|
||
Number of common shares outstanding
|
|
57,819,693.450
|
|
|
42,104,997.486
|
|
|
|
|
Six months ended March 31,
|
|
||||||
Listed below are supplemental data and ratios to the financial highlights:
|
|
2018
|
|
2017
|
|
||||
Ratio of net investment income to average net assets
*
|
|
8.30
|
%
|
|
7.01
|
%
|
|
||
Ratio of total expenses to average net assets
(5)*
|
|
7.72
|
%
|
|
7.11
|
%
|
|
||
Ratio of management fee waiver to average net assets
*
|
|
(0.69
|
)%
|
|
(0.67
|
)%
|
|
||
Ratio of incentive fee waiver to average net assets
|
|
(0.23
|
)%
|
|
—
|
%
|
|
||
Ratio of net expenses to average net assets
(5)*
|
|
6.80
|
%
|
|
6.44
|
%
|
|
||
Ratio of incentive fees to average net assets
|
|
1.09
|
%
|
|
0.80
|
%
|
|
||
Ratio of total expenses (without incentive fees, incentive fee waiver and management fee waiver) to average net assets
(5)*
|
|
6.63
|
%
|
|
6.31
|
%
|
|
||
Total return based on average net asset value
(6)*
|
|
9.55
|
%
|
|
8.79
|
%
|
|
||
Net assets at end of period
|
|
$
|
867,295
|
|
|
$
|
631,575
|
|
|
Average debt outstanding
|
|
$
|
710,837
|
|
|
$
|
525,738
|
|
|
Average debt outstanding per share
|
|
$
|
12.29
|
|
|
$
|
12.49
|
|
|
Portfolio Turnover
*
|
|
25.74
|
%
|
|
17.47
|
%
|
|
||
Asset coverage ratio
(7)
|
|
217.86
|
%
|
|
210.08
|
%
|
|
||
Asset coverage ratio per unit
(8)
|
|
$
|
2,179
|
|
|
$
|
2,101
|
|
|
Average market value per unit
(9)
:
|
|
|
|
|
|
||||
2016 Debt Securitization
|
|
N/A
|
|
|
N/A
|
|
|
||
Credit Facility
|
|
N/A
|
|
|
N/A
|
|
|
||
SMBC Revolver
|
|
N/A
|
|
|
N/A
|
|
|
||
Revolver
|
|
N/A
|
|
|
N/A
|
|
|
||
GEMS Note
|
|
N/A
|
|
|
N/A
|
|
|
|
(1)
|
Based on actual number of shares outstanding at the end of the corresponding period or the weighted average shares outstanding for the period, unless otherwise noted, as appropriate.
|
(2)
|
The per share data for distributions reflect the amount of distributions paid or payable with a record date during the applicable period.
|
(3)
|
Represents an amount less than $0.01 per share.
|
(4)
|
Total return based on net asset value assumes distributions are reinvested in accordance with the DRIP. Total return does not include sales load.
|
(5)
|
Expenses, other than incentive fees, are annualized for a period less than one year.
|
(6)
|
Total return based on average net asset value is calculated as (a) the net increase in net assets resulting from operations divided by (b) the daily average of total net assets. Total return does not include sales load.
|
|
|
|
(7)
|
In accordance with the 1940 Act, with certain limited exceptions, the Company is currently allowed to borrow amounts such that its asset coverage, as defined in the 1940 Act, is at least 200% after such borrowing.
|
(8)
|
Asset coverage ratio per unit is the ratio of the carrying value of our total consolidated assets, less all liabilities and indebtedness not represented by senior securities, to the aggregate amount of senior securities representing indebtedness. Asset coverage ratio per unit is expressed in terms of dollars amounts per $1,000 of indebtedness.
|
(9)
|
Not applicable because such senior securities are not registered for public trading.
|
|
Three months ended March 31,
|
|
Six months ended March 31,
|
||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Earnings available to stockholders
|
$
|
20,708
|
|
|
$
|
12,694
|
|
|
$
|
38,522
|
|
|
$
|
27,274
|
|
Basic and diluted weighted average shares outstanding
|
55,957,341
|
|
|
41,892,513
|
|
|
54,003,357
|
|
|
41,569,032
|
|
||||
Basic and diluted earnings per share
|
$
|
0.37
|
|
|
$
|
0.30
|
|
|
$
|
0.71
|
|
|
$
|
0.65
|
|
|
|
|
Payment Date
|
|
DRIP Shares Issued
|
|
NAV ($)
per share
|
|
DRIP Shares
Value
|
|||||
For the six months ended March 31, 2018
|
|
|
|
|
|
|
|||||
November 27, 2017
|
|
291,564.353
|
|
|
$
|
15.00
|
|
|
$
|
4,374
|
|
December 28, 2017
|
|
393,201.972
|
|
|
15.00
|
|
|
5,898
|
|
||
February 26, 2018
|
|
470,835.576
|
|
|
15.00
|
|
|
7,062
|
|
||
|
|
1,155,601.901
|
|
|
$
|
15.00
|
|
|
$
|
17,334
|
|
For the six months ended March 31, 2017
|
|
|
|
|
|
|
|||||
November 21, 2016
|
|
355,195.794
|
|
|
$
|
15.00
|
|
|
$
|
5,329
|
|
December 30, 2016
|
|
327,120.972
|
|
|
15.00
|
|
|
4,907
|
|
||
February 27, 2017
|
|
335,502.470
|
|
|
15.00
|
|
|
5,032
|
|
||
|
|
1,017,819.236
|
|
|
$
|
15.00
|
|
|
$
|
15,268
|
|
Record Date
|
|
Payment Date
|
|
Amount Per Share
|
April 27, 2018
|
|
July 24, 2018
|
|
Net increase in net assets resulting from operations earned by the Company (if positive) as determined in accordance with GAAP for the period April 1, 2018 through April 30,
2018 per share
|
May 18, 2018
|
|
July 24, 2018
|
|
Net increase in net assets resulting from operations earned by the Company (if positive) as determined in accordance with GAAP for the period May 1, 2018 through May 31,
2018 per share
|
June 15, 2018
|
|
July 24, 2018
|
|
Net increase in net assets resulting from operations earned by the Company (if positive) as determined in accordance with GAAP for the period June 1, 2018 through June 30,
2018 per share
|
July 21, 2018
|
|
September 25, 2018
|
|
Net increase in net assets resulting from operations earned by the Company (if positive) as determined in accordance with GAAP for the period July 1, 2018 through July 31,
2018 per share
|
•
|
our future operating results;
|
•
|
our business prospects and the prospects of our portfolio companies;
|
•
|
the effect of investments that we expect to make and the competition for those investments;
|
•
|
our contractual arrangements and relationships with third parties;
|
•
|
completion of a public offering of our securities or other liquidity event;
|
•
|
actual and potential conflicts of interest with GC Advisors LLC, or GC Advisors, and other affiliates of Golub Capital LLC, or collectively, Golub Capital;
|
•
|
the dependence of our future success on the general economy and its effect on the industries in which we invest;
|
•
|
the ability of our portfolio companies to achieve their objectives;
|
•
|
the use of borrowed money to finance a portion of our investments;
|
•
|
the adequacy of our financing sources and working capital;
|
•
|
the timing of cash flows, if any, from the operations of our portfolio companies;
|
•
|
general economic and political trends and other external factors;
|
•
|
the ability of GC Advisors to locate suitable investments for us and to monitor and administer our investments;
|
•
|
the ability of GC Advisors or its affiliates to attract and retain highly talented professionals;
|
•
|
our ability to qualify and maintain our qualification as a regulated investment company, or RIC, and as a business development company;
|
•
|
general price and volume fluctuations in the stock markets;
|
•
|
the impact on our business of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the rules and regulations issued thereunder and any actions toward repeal thereof; and
|
•
|
the effect of changes to tax legislation and our tax position.
|
|
|
As of March 31, 2018
|
|
As of September 30, 2017
|
||||||||||
Investment Type
|
|
Investments at
Fair Value
(In thousands)
|
|
Percentage of
Total Investments |
|
Investments at
Fair Value
(In thousands)
|
|
Percentage of
Total
Investments
|
||||||
Senior secured
|
|
$
|
154,479
|
|
|
9.8
|
%
|
|
$
|
165,620
|
|
|
11.8
|
%
|
One stop
|
|
1,330,840
|
|
|
84.6
|
|
|
1,161,275
|
|
|
83.1
|
|
||
Subordinated debt
|
|
57
|
|
|
0.0
|
*
|
|
55
|
|
|
0.0
|
*
|
||
LLC equity interests in GCIC SLF
(1)
|
|
63,484
|
|
|
4.0
|
|
|
50,104
|
|
|
3.6
|
|
||
Equity
|
|
25,764
|
|
|
1.6
|
|
|
20,647
|
|
|
1.5
|
|
||
Total
|
|
$
|
1,574,624
|
|
|
100.0
|
%
|
|
$
|
1,397,701
|
|
|
100.0
|
%
|
|
(1)
|
Proceeds from the limited liability company, or LLC, equity interests invested in GCIC Senior Loan Fund LLC, or GCIC SLF, were utilized by GCIC SLF to invest in senior secured loans.
|
|
For the three months ended March 31,
|
|
For the six months ended March 31,
|
||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
Weighted average annualized income yield
(1)(2)
|
8.4%
|
|
7.6%
|
|
8.2%
|
|
7.6%
|
Weighted average annualized investment income yield
(1)(3)
|
9.0%
|
|
7.9%
|
|
8.8%
|
|
8.0%
|
Total return based on average net asset value
(4)*
|
10.0%
|
|
8.2%
|
|
9.6%
|
|
8.8%
|
Total return based on net asset value per share
(5)
|
2.9%
|
|
2.5%
|
|
4.8%
|
|
4.4%
|
|
*
|
Annualized for periods of less than one year
|
(1)
|
For the three and six months ended March 31, 2018 and for the three months ended March 31, 2017, the weighted average annualized income yield and weighted average annualized investment income yield do not reflect interest income from subordinated notes in GCIC SLF, which were redeemed on December 30, 2016.
|
(2)
|
Represents income from interest, including subordinated notes in GCIC SLF, fees and excluding amortization of capitalized fees and discounts divided by the average fair value of earning portfolio company investments, and does not represent a return to any investor in us.
|
(3)
|
Represents income from interest, including subordinated notes in GCIC SLF, fees and amortization of capitalized fees and discounts divided by the average fair value of earning portfolio company investments, and does not represent a return to any investor in us.
|
(4)
|
Total return based on average net asset value is calculated as (a) the net increase in net assets resulting from operations divided by (b) the daily average of total net assets. Total return does not include sales load.
|
(5)
|
Total return based on net asset value assumes distributions are reinvested in accordance with the DRIP. Total return does not include sales load.
|
•
|
reimbursement to GC Advisors of organizational and offering expenses up to an aggregate amount of $0.7 million;
|
•
|
calculating our NAV (including the cost and expenses of any independent valuation firm);
|
•
|
fees and expenses incurred by GC Advisors payable to third parties, including agents, consultants or other advisors, in monitoring financial and legal affairs for us and in monitoring our investments and performing due diligence on our prospective portfolio companies or otherwise relating to, or associated with, evaluating and making investments, which fees and expenses may include, among other items, due diligence reports, appraisal reports, any studies that may be commissioned by GC Advisors and travel and lodging expenses;
|
•
|
expenses related to unsuccessful portfolio acquisition efforts;
|
•
|
administration fees and expenses, if any, payable under the Administration Agreement (including payments based upon our allocable portion of the Administrator’s overhead in performing its obligations under the Administration Agreement, including rent and the allocable portion of the cost of our chief compliance officer, chief financial officer and their respective staffs);
|
•
|
fees payable to third parties, including agents, consultants or other advisors, relating to, or associated with, evaluating and making investments in portfolio companies, including costs associated with meeting financial sponsors;
|
•
|
transfer agent, dividend agent and custodial fees and expenses;
|
•
|
U.S. federal and state registration and franchise fees;
|
•
|
U.S. federal, state and local taxes;
|
•
|
independent directors’ fees and expenses;
|
•
|
costs of preparing and filing reports or other documents required by the SEC or other regulators;
|
•
|
costs of any reports, proxy statements or other notices to stockholders, including printing costs;
|
•
|
costs associated with individual or group stockholders;
|
•
|
costs associated with compliance under the Sarbanes-Oxley Act of 2002, or the Sarbanes-Oxley Act;
|
•
|
our allocable portion of any fidelity bond, directors and officers/errors and omissions liability insurance, and any other insurance premiums;
|
•
|
direct costs and expenses of administration, including printing, mailing, long distance telephone, copying, secretarial and other staff, independent auditors and outside legal costs;
|
•
|
proxy voting expenses; and
|
•
|
all other expenses incurred by us or the Administrator in connection with administering our business.
|
Record Date
|
|
Payment Date
|
|
Amount Per Share
|
April 27, 2018
|
|
July 24, 2018
|
|
Net increase in net assets resulting from operations earned by us (if positive) as determined in accordance with generally accepted accounting principles in the United States of America, or GAAP, for the period April 1, 2018 through April 30, 2018 per share
|
May 18, 2018
|
|
July 24, 2018
|
|
Net increase in net assets resulting from operations earned by us (if positive) as determined in accordance with GAAP for the period May 1, 2018 through May 31, 2018 per share
|
June 15, 2018
|
|
July 24, 2018
|
|
Net increase in net assets resulting from operations earned by us (if positive) as determined in accordance with GAAP for the period June 1, 2018 through June 30, 2018 per share
|
July 21, 2018
|
|
September 25, 2018
|
|
Net increase in net assets resulting from operations earned by us (if positive) as determined in accordance with GAAP for the period July 1, 2018 through July 31, 2018 per share
|
|
For the three months ended March 31,
|
|
Variances
|
|
For the six months ended March 31,
|
|
Variances
|
||||||||||||||||
|
2018
|
|
2017
|
|
2018 vs. 2017
|
|
2018
|
|
2017
|
|
2018 vs. 2017
|
||||||||||||
|
(In thousands)
|
|
(In thousands)
|
||||||||||||||||||||
Interest income
|
$
|
29,353
|
|
|
$
|
19,824
|
|
|
$
|
9,529
|
|
|
56,398
|
|
|
39,183
|
|
|
$
|
17,215
|
|
||
Income from accretion of discounts and origination fees
|
2,145
|
|
|
989
|
|
|
1,156
|
|
|
4,171
|
|
|
2,379
|
|
|
1,792
|
|
||||||
Interest and dividend income from investments in GCIC SLF
(1)
|
1,294
|
|
|
1,242
|
|
|
52
|
|
|
2,424
|
|
|
2,395
|
|
|
29
|
|
||||||
Dividend income
|
75
|
|
|
—
|
|
|
75
|
|
|
77
|
|
|
1
|
|
|
76
|
|
||||||
Fee income
|
897
|
|
|
65
|
|
|
832
|
|
|
1,288
|
|
|
211
|
|
|
1,077
|
|
||||||
Total investment income
|
33,764
|
|
|
22,120
|
|
|
11,644
|
|
|
64,358
|
|
|
44,169
|
|
|
20,189
|
|
||||||
Net expenses
|
16,069
|
|
|
11,176
|
|
|
4,893
|
|
|
30,882
|
|
|
22,421
|
|
|
8,461
|
|
||||||
Net investment income
|
17,695
|
|
|
10,944
|
|
|
6,751
|
|
|
33,476
|
|
|
21,748
|
|
|
11,728
|
|
||||||
Net realized gain (loss) on investments and foreign currency transactions
|
580
|
|
|
134
|
|
|
446
|
|
|
94
|
|
|
331
|
|
|
(237
|
)
|
||||||
Net change in unrealized appreciation (depreciation) on investments and translation of assets in foreign currencies
|
2,433
|
|
|
1,616
|
|
|
817
|
|
|
4,952
|
|
|
5,195
|
|
|
(243
|
)
|
||||||
Net increase in net assets resulting from operations
|
$
|
20,708
|
|
|
$
|
12,694
|
|
|
$
|
8,014
|
|
|
$
|
38,522
|
|
|
$
|
27,274
|
|
|
$
|
11,248
|
|
Average earning debt investments, at fair value
|
$
|
1,457,903
|
|
|
$
|
1,067,235
|
|
|
$
|
390,668
|
|
|
$
|
1,415,941
|
|
|
$
|
1,041,217
|
|
|
$
|
374,724
|
|
Average investment in subordinated notes of GCIC SLF, at fair value
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
17,266
|
|
|
(17,266
|
)
|
||||||
Average earning portfolio company investments, at fair value
(2)
|
$
|
1,457,903
|
|
|
$
|
1,067,235
|
|
|
$
|
390,668
|
|
|
$
|
1,415,941
|
|
|
$
|
1,058,483
|
|
|
$
|
357,458
|
|
|
(1)
|
The investments in GCIC SLF include our investments in LLC equity interests in GCIC SLF for the three and six months ended March 31, 2018 and the three months ended March 31, 2017. For the six months ended March 31, 2017, the investments in GCIC SLF include our investments in both subordinated notes (prior to their redemption by GCIC SLF on December 30, 2016) and LLC equity interests in GCIC SLF.
|
(2)
|
Does not include our investment in LLC equity interests in GCIC SLF.
|
|
For the three months ended March 31,
|
|
For the six months ended March 31,
|
||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
Senior secured
|
7.0%
|
|
6.3%
|
|
6.8%
|
|
6.3%
|
One stop
|
8.6%
|
|
7.7%
|
|
8.3%
|
|
7.8%
|
Subordinated debt
(1)
|
19.8%
|
|
19.8%
|
|
19.8%
|
|
19.8%
|
Subordinated notes in GCIC SLF
(2)
|
N/A
|
|
N/A
|
|
N/A
|
|
8.5%
|
|
(1)
|
Represents one portfolio company investment.
|
(2)
|
GCIC SLF’s proceeds from the subordinated notes were utilized by GCIC SLF to invest in senior secured loans. GCIC SLF redeemed the outstanding balance on the subordinated notes on December 30, 2016.
|
|
|
For the three months ended March 31,
|
|
Variances
|
|
For the six months ended March 31,
|
|
Variances
|
||||||||||||||||
|
|
2018
|
|
2017
|
|
2018 vs. 2017
|
|
2018
|
|
2017
|
|
2018 vs. 2017
|
||||||||||||
|
|
(In thousands)
|
|
(In thousands)
|
||||||||||||||||||||
Interest and other debt financing expenses
|
|
$
|
6,979
|
|
|
$
|
4,431
|
|
|
$
|
2,548
|
|
|
$
|
13,305
|
|
|
$
|
8,454
|
|
|
$
|
4,851
|
|
Amortization of debt issuance costs
|
|
531
|
|
|
882
|
|
|
(351
|
)
|
|
1,084
|
|
|
1,781
|
|
|
(697
|
)
|
||||||
Base management fee, net of waiver
|
|
3,818
|
|
|
2,822
|
|
|
996
|
|
|
7,444
|
|
|
5,583
|
|
|
1,861
|
|
||||||
Income Incentive Fee, net of waiver
|
|
3,210
|
|
|
1,830
|
|
|
1,380
|
|
|
6,063
|
|
|
3,860
|
|
|
2,203
|
|
||||||
Capital gain incentive fee accrued under GAAP
|
|
495
|
|
|
392
|
|
|
103
|
|
|
880
|
|
|
1,090
|
|
|
(210
|
)
|
||||||
Professional fees
|
|
450
|
|
|
480
|
|
|
(30
|
)
|
|
972
|
|
|
922
|
|
|
50
|
|
||||||
Administrative service fee
|
|
531
|
|
|
343
|
|
|
188
|
|
|
1,026
|
|
|
705
|
|
|
321
|
|
||||||
General and administrative expenses
|
|
55
|
|
|
(4
|
)
|
|
59
|
|
|
108
|
|
|
26
|
|
|
82
|
|
||||||
Net expenses
|
|
$
|
16,069
|
|
|
$
|
11,176
|
|
|
$
|
4,893
|
|
|
$
|
30,882
|
|
|
$
|
22,421
|
|
|
$
|
8,461
|
|
Average debt outstanding
|
|
$
|
727,742
|
|
|
$
|
538,522
|
|
|
$
|
189,220
|
|
|
$
|
710,837
|
|
|
$
|
525,738
|
|
|
$
|
185,099
|
|
|
For the three months ended March 31,
|
|
Variances
|
|
For the six months ended March 31,
|
|
Variances
|
||||||||||||||||
|
2018
|
|
2017
|
|
2018 vs. 2017
|
|
2018
|
|
2017
|
|
2018 vs. 2017
|
||||||||||||
|
(In thousands)
|
|
(In thousands)
|
||||||||||||||||||||
Net realized gain (loss) on investments
|
$
|
560
|
|
|
$
|
134
|
|
|
$
|
426
|
|
|
$
|
111
|
|
|
$
|
331
|
|
|
$
|
(220
|
)
|
Foreign currency transactions
|
20
|
|
|
—
|
|
|
20
|
|
|
(17
|
)
|
|
—
|
|
|
(17
|
)
|
||||||
Net realized gain (loss) on investments and foreign currency transactions
|
$
|
580
|
|
|
$
|
134
|
|
|
$
|
446
|
|
|
$
|
94
|
|
|
$
|
331
|
|
|
$
|
(237
|
)
|
Unrealized appreciation on investments
|
8,708
|
|
|
4,483
|
|
|
4,225
|
|
|
12,179
|
|
|
8,582
|
|
|
3,597
|
|
||||||
Unrealized (depreciation) on investments
|
(7,003
|
)
|
|
(2,968
|
)
|
|
(4,035
|
)
|
|
(8,707
|
)
|
|
(3,689
|
)
|
|
(5,018
|
)
|
||||||
Unrealized appreciation on investments in GCIC SLF
(1)
|
736
|
|
|
101
|
|
|
635
|
|
|
1,480
|
|
|
302
|
|
|
1,178
|
|
||||||
Unrealized (depreciation) on translation of assets in foreign currencies
|
(8
|
)
|
|
—
|
|
|
(8
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Net change in unrealized appreciation (depreciation) on investments, investments in GCIC SLF, and foreign currency transactions
|
$
|
2,433
|
|
|
$
|
1,616
|
|
|
$
|
817
|
|
|
$
|
4,952
|
|
|
$
|
5,195
|
|
|
$
|
106
|
|
|
(1)
|
Unrealized appreciation on investments in GCIC SLF includes our investment in LLC equity interests in GCIC SLF.
|
|
For the three months ended March 31,
|
|
For the six months ended March 31,
|
||||||||||||||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||||||||||||||
|
(In thousands)
|
|
Percentage of
Commitments
|
|
(In thousands)
|
|
Percentage of
Commitments |
|
(In thousands)
|
|
Percentage of
Commitments
|
|
(In thousands)
|
|
Percentage of
Commitments
|
||||||||||||
Senior secured
|
$
|
24,283
|
|
|
13.1
|
%
|
|
$
|
48,697
|
|
|
48.1
|
%
|
|
$
|
80,607
|
|
|
19.3
|
%
|
|
$
|
65,687
|
|
|
32.2
|
%
|
One stop
|
153,035
|
|
|
82.6
|
|
|
51,222
|
|
|
50.6
|
|
|
322,050
|
|
|
77.1
|
|
|
128,092
|
|
|
62.8
|
|
||||
Subordinated debt
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
11
|
|
|
0.0
|
*
|
||||
LLC equity interests in GCIC SLF
(1)
|
6,387
|
|
|
3.4
|
|
|
—
|
|
|
—
|
|
|
11,900
|
|
|
2.9
|
|
|
8,803
|
|
|
4.3
|
|
||||
Equity
|
1,664
|
|
|
0.9
|
|
|
1,250
|
|
|
1.3
|
|
|
3,061
|
|
|
0.7
|
|
|
1,407
|
|
|
0.7
|
|
||||
Total new investment commitments
|
$
|
185,369
|
|
|
100.0
|
%
|
|
$
|
101,169
|
|
|
100.0
|
%
|
|
$
|
417,618
|
|
|
100.0
|
%
|
|
$
|
204,000
|
|
|
100.0
|
%
|
|
(1)
|
GCIC SLF’s proceeds from the LLC equity interests were utilized by GCIC SLF to invest in senior secured loans. As of
March 31, 2018
, GCIC SLF had investments in senior secured loans to
42
different borrowers.
|
|
As of March 31, 2018
(1)
|
|
As of September 30, 2017
(1)
|
||||||||||||||||||||
|
Principal
|
|
Amortized
Cost
|
|
Fair
Value
|
|
Principal
|
|
Amortized
Cost
|
|
Fair
Value
|
||||||||||||
|
(In thousands)
|
|
(In thousands)
|
||||||||||||||||||||
Senior secured:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Performing
|
$
|
157,228
|
|
|
$
|
155,565
|
|
|
$
|
154,479
|
|
|
$
|
167,646
|
|
|
$
|
165,642
|
|
|
$
|
165,620
|
|
One stop:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Performing
|
1,338,309
|
|
|
1,320,722
|
|
|
1,330,815
|
|
|
1,167,906
|
|
|
1,151,903
|
|
|
1,160,964
|
|
||||||
Non-accrual
(2)
|
62
|
|
|
37
|
|
|
25
|
|
|
1,101
|
|
|
1,076
|
|
|
311
|
|
||||||
Subordinated debt:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Performing
|
57
|
|
|
57
|
|
|
57
|
|
|
55
|
|
|
55
|
|
|
55
|
|
||||||
LLC equity interests in GCIC SLF
(3)
|
N/A
|
|
|
61,700
|
|
|
63,484
|
|
|
N/A
|
|
|
49,800
|
|
|
50,104
|
|
||||||
Equity
|
N/A
|
|
|
20,099
|
|
|
25,764
|
|
|
N/A
|
|
|
17,733
|
|
|
20,647
|
|
||||||
Total
|
$
|
1,495,656
|
|
|
$
|
1,558,180
|
|
|
$
|
1,574,624
|
|
|
$
|
1,336,708
|
|
|
$
|
1,386,209
|
|
|
$
|
1,397,701
|
|
|
(1)
|
19 and 15 of our loans included a feature permitting a portion of the interest due on such loan to be PIK interest as of
March 31, 2018
and
September 30, 2017
, respectively.
|
(2)
|
We refer to a loan as non-accrual when we cease recognizing interest income on the loan because we have stopped pursuing repayment of the loan or, in certain circumstances, it is past due 90 days or more on principal and interest or our management has reasonable doubt that principal or interest will be collected. See “— Critical Accounting Policies — Revenue Recognition.”
|
(3)
|
GCIC SLF's proceeds from the LLC equity interests in GCIC SLF were utilized by GCIC SLF to invest in senior secured loans.
|
|
For the three months ended March 31,
|
|
For the six months ended March 31,
|
||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
Weighted average rate of new investment fundings
(1)
|
8.5%
|
|
6.6%
|
|
7.9%
|
|
6.8%
|
Weighted average spread over LIBOR of new floating rate investment fundings
(1)
|
6.6%
|
|
5.6%
|
|
6.2%
|
|
5.8%
|
Weighted average fees of new investment fundings
|
1.1%
|
|
1.3%
|
|
1.2%
|
|
1.5%
|
Weighted average rate of sales and payoffs of portfolio investments
(1)(2)
|
8.1%
|
|
6.7%
|
|
7.7%
|
|
6.5%
|
Weighted average annualized income yield
(3)(4)
|
8.4%
|
|
7.6%
|
|
8.2%
|
|
7.6%
|
|
(1)
|
Excludes our subordinated note investment in GCIC SLF, which was redeemed on December 30, 2016.
|
(2)
|
Excludes exits on investments on non-accrual status.
|
(3)
|
Represents income from interest, including our subordinated note investment in GCIC SLF, and fees excluding amortization of capitalized fees and discounts divided by the average fair value of earning debt investments and does not represent a return to any investor in us.
|
(4)
|
For the three and six months ended March 31, 2018 and for the three months ending March 31, 2017, the weighted average annualized income yield does not reflect interest income from subordinated notes in GCIC SLF, which were redeemed on December 30, 2016.
|
|
|
March 31, 2018
|
|
September 30, 2017
|
||||||||||
Internal
Performance
Rating
|
|
Investments
at Fair Value
(In thousands)
|
|
Percentage of
Total
Investments
|
|
Investments
at Fair Value
(In thousands)
|
|
Percentage of
Total
Investments
|
||||||
5
|
|
$
|
141,529
|
|
|
9.0
|
%
|
|
$
|
22,656
|
|
|
1.6
|
%
|
4
|
|
1,304,920
|
|
|
82.9
|
|
|
1,246,641
|
|
|
89.2
|
|
||
3
|
|
126,293
|
|
|
8.0
|
|
|
127,947
|
|
|
9.2
|
|
||
2
|
|
1,866
|
|
|
0.1
|
|
|
155
|
|
|
0.0
|
*
|
||
1
|
|
16
|
|
|
0.0
|
*
|
|
302
|
|
|
0.0
|
*
|
||
Total
|
|
$
|
1,574,624
|
|
|
100.0
|
%
|
|
$
|
1,397,701
|
|
|
100.0
|
%
|
|
|
As of March 31, 2018
|
|
As of September 30, 2017
|
||||||||||||
|
Committed
|
|
Funded
(1)
|
|
Committed
|
|
Funded
(1)
|
||||||||
|
(In thousands)
|
|
(In thousands)
|
||||||||||||
LLC equity commitments
|
$
|
125,000
|
|
|
$
|
70,514
|
|
|
$
|
125,000
|
|
|
$
|
56,914
|
|
Total
|
$
|
125,000
|
|
|
$
|
70,514
|
|
|
$
|
125,000
|
|
|
$
|
56,914
|
|
|
(1)
|
Funded LLC equity commitments are presented net of return of capital distributions subject to recall.
|
|
As of March 31, 2018
|
|
As of September 30, 2017
|
||||
|
(Dollars in thousands)
|
||||||
Senior secured loans
(1)
|
$
|
184,840
|
|
|
$
|
162,815
|
|
Weighted average current interest rate on senior secured loans
(2)
|
7.1
|
%
|
|
6.4
|
%
|
||
Number of borrowers in GCIC SLF
|
42
|
|
|
40
|
|
||
Largest portfolio company investments
(1)
|
$
|
8,882
|
|
|
$
|
8,928
|
|
Total of five largest portfolio company investments
(1)
|
$
|
39,336
|
|
|
$
|
39,540
|
|
|
(1)
|
At principal amount.
|
(2)
|
Computed as the (a) annual stated interest rate on accruing senior secured loans divided by (b) total senior secured loans at principal amount.
|
GCIC SLF Investment Portfolio as of March 31, 2018
|
||||||||||||||||
Portfolio Company
|
|
Business Description
|
|
Security Type
|
|
Maturity
Date
|
|
Current
Interest
Rate
(1)
|
|
Principal ($)
|
|
Fair
Value
(2)
|
||||
|
|
|
|
|
|
|
|
|
|
(In thousands)
|
||||||
1A Smart Start LLC
|
|
Home and Office Furnishings, Housewares, and Durable Consumer
|
|
Senior loan
|
|
02/2022
|
|
6.6%
|
|
$
|
1,344
|
|
|
$
|
1,347
|
|
1A Smart Start LLC
(3)
|
|
Home and Office Furnishings, Housewares, and Durable Consumer
|
|
Senior loan
|
|
02/2022
|
|
6.4
|
|
597
|
|
|
598
|
|
||
Aimbridge Hospitality, LLC
(3)
|
|
Hotels, Motels, Inns, and Gaming
|
|
Senior loan
|
|
06/2022
|
|
7.4
|
|
5,970
|
|
|
5,970
|
|
||
Aimbridge Hospitality, LLC
(3)
|
|
Hotels, Motels, Inns, and Gaming
|
|
Senior loan
|
|
06/2022
|
|
7.4
|
|
238
|
|
|
238
|
|
||
Boot Barn, Inc.
|
|
Retail Stores
|
|
Senior loan
|
|
06/2021
|
|
6.8
|
|
5,285
|
|
|
5,285
|
|
||
Brandmuscle, Inc.
|
|
Printing and Publishing
|
|
Senior loan
|
|
12/2021
|
|
7.1
|
|
4,023
|
|
|
4,019
|
|
||
Captain D's, LLC
(3)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
12/2023
|
|
6.4
|
|
5,985
|
|
|
5,985
|
|
||
Captain D's, LLC
(3)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
12/2023
|
|
7.1
|
|
17
|
|
|
17
|
|
||
CLP Healthcare Services, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
7.4
|
|
2,039
|
|
|
1,998
|
|
||
CLP Healthcare Services, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
7.4
|
|
1,027
|
|
|
1,007
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
2,085
|
|
|
2,085
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
1,048
|
|
|
1,048
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
59
|
|
|
59
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
40
|
|
|
40
|
|
||
Curo Health Services LLC
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
02/2022
|
|
5.8
|
|
4,850
|
|
|
4,841
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
7.6
|
|
3,078
|
|
|
3,085
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
7.3
|
|
1,238
|
|
|
1,232
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
7.6
|
|
637
|
|
|
638
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
7.3
|
|
377
|
|
|
376
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
7.6
|
|
217
|
|
|
217
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
7.6
|
|
97
|
|
|
97
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
7.6
|
|
93
|
|
|
93
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
06/2018
|
|
7.3
|
|
20
|
|
|
20
|
|
||
Encore GC Acquisition, LLC
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
01/2020
|
|
7.8
|
|
2,097
|
|
|
2,097
|
|
||
Flexan, LLC
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
8.1
|
|
2,676
|
|
|
2,676
|
|
||
Flexan, LLC
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
8.1
|
|
743
|
|
|
743
|
|
||
Flexan, LLC
(3)
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
9.3
|
|
209
|
|
|
209
|
|
||
G & H Wire Company, Inc
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
09/2023
|
|
7.4
|
|
5,970
|
|
|
5,970
|
|
||
Gamma Technologies, LLC
(3)
|
|
Electronics
|
|
Senior loan
|
|
06/2021
|
|
6.6
|
|
4,389
|
|
|
4,389
|
|
||
III US Holdings, LLC
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
09/2022
|
|
8.8
|
|
4,975
|
|
|
4,975
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.2
|
|
1,973
|
|
|
1,963
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.3
|
|
103
|
|
|
102
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.3
|
|
55
|
|
|
55
|
|
||
Mills Fleet Farm Group LLC
(3)
|
|
Retail Stores
|
|
Senior loan
|
|
02/2022
|
|
7.4
|
|
6,000
|
|
|
6,000
|
|
||
NBC Intermediate, LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
09/2023
|
|
6.4
|
|
2,709
|
|
|
2,709
|
|
||
NBC Intermediate, LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
09/2023
|
|
8.3
|
|
1
|
|
|
1
|
|
||
Pasternack Enterprises, Inc. and Fairview Microwave, Inc
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
05/2022
|
|
6.9
|
|
4,988
|
|
|
4,988
|
|
||
Polk Acquisition Corp.
(3)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
6.9
|
|
8,254
|
|
|
8,089
|
|
||
Polk Acquisition Corp.
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.2
|
|
80
|
|
|
78
|
|
||
Polk Acquisition Corp.
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
6.9
|
|
53
|
|
|
52
|
|
||
PowerPlan Holdings, Inc.
(3)
|
|
Utilities
|
|
Senior loan
|
|
02/2022
|
|
7.1
|
|
7,126
|
|
|
7,126
|
|
||
Premise Health Holding Corp.
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
06/2020
|
|
6.8
|
|
5,895
|
|
|
5,895
|
|
||
Pyramid Healthcare, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2019
|
|
8.3
|
|
2,464
|
|
|
2,464
|
|
GCIC SLF Investment Portfolio as of March 31, 2018 - (continued)
|
||||||||||||||||
Portfolio Company
|
|
Business Description
|
|
Security Type
|
|
Maturity
Date
|
|
Current
Interest
Rate
(1)
|
|
Principal ($)
|
|
Fair
Value
(2)
|
||||
|
|
|
|
|
|
|
|
|
|
(In thousands)
|
||||||
Pyramid Healthcare, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2019
|
|
8.3%
|
|
$
|
167
|
|
|
$
|
167
|
|
Pyramid Healthcare, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2019
|
|
8.3
|
|
149
|
|
|
149
|
|
||
Radiology Partners, Inc.
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2023
|
|
7.6
|
|
8,079
|
|
|
8,079
|
|
||
Reladyne, Inc.
(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
6.7
|
|
6,000
|
|
|
6,000
|
|
||
Reladyne, Inc.
(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
6.8
|
|
626
|
|
|
626
|
|
||
Reladyne, Inc.
(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
6.9
|
|
19
|
|
|
19
|
|
||
RSC Acquisition, Inc.
(3)
|
|
Insurance
|
|
Senior loan
|
|
11/2022
|
|
6.6
|
|
3,314
|
|
|
3,314
|
|
||
RSC Acquisition, Inc.
(3)
|
|
Insurance
|
|
Senior loan
|
|
11/2021
|
|
6.0
|
|
25
|
|
|
25
|
|
||
Rubio's Restaurants, Inc.
(3)
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
10/2019
|
|
7.6
|
|
1,667
|
|
|
1,667
|
|
||
Rug Doctor LLC
|
|
Personal and Non Durable Consumer Products (Mfg. Only)
|
|
Senior loan
|
|
06/2018
|
|
7.1
|
|
1,431
|
|
|
1,431
|
|
||
Saldon Holdings, Inc.
(3)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
09/2022
|
|
6.5
|
|
1,958
|
|
|
1,958
|
|
||
Sarnova HC, LLC
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
01/2022
|
|
6.6
|
|
3,284
|
|
|
3,284
|
|
||
SEI, Inc.
(3)
|
|
Electronics
|
|
Senior loan
|
|
07/2023
|
|
7.1
|
|
5,204
|
|
|
5,152
|
|
||
Self Esteem Brands, LLC
(3)
|
|
Leisure, Amusement, Motion Pictures, Entertainment
|
|
Senior loan
|
|
02/2020
|
|
6.6
|
|
6,138
|
|
|
6,138
|
|
||
Severin Acquisition, LLC
(3)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
07/2021
|
|
6.8
|
|
7,808
|
|
|
7,807
|
|
||
Severin Acquisition, LLC
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
07/2021
|
|
6.9
|
|
1,074
|
|
|
1,077
|
|
||
Smashburger Finance LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
05/2018
|
|
7.5
|
|
5,220
|
|
|
5,220
|
|
||
Smashburger Finance LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
05/2018
|
|
7.5
|
|
412
|
|
|
412
|
|
||
Smashburger Finance LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
05/2018
|
|
7.5
|
|
411
|
|
|
411
|
|
||
Smashburger Finance LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
05/2018
|
|
7.5
|
|
410
|
|
|
410
|
|
||
Smashburger Finance LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
05/2018
|
|
7.5
|
|
409
|
|
|
409
|
|
||
Summit Behavioral Healthcare, LLC
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
10/2023
|
|
6.7
|
|
5,985
|
|
|
5,985
|
|
||
Summit Behavioral Healthcare, LLC
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
10/2023
|
|
6.8
|
|
32
|
|
|
32
|
|
||
Tate's Bake Shop, Inc.
(3)
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
08/2019
|
|
8.6
|
|
701
|
|
|
701
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
6.4
|
|
1,091
|
|
|
1,091
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.1
|
|
855
|
|
|
855
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
6.5
|
|
161
|
|
|
161
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
6.5
|
|
59
|
|
|
59
|
|
||
Transaction Data Systems, Inc.
(3)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
06/2021
|
|
7.6
|
|
3,873
|
|
|
3,873
|
|
||
Transaction Data Systems, Inc.
(3)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
06/2020
|
|
6.8
|
|
11
|
|
|
10
|
|
||
Upstream Intermediate, LLC
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
01/2024
|
|
6.8
|
|
3,603
|
|
|
3,585
|
|
||
Vendor Credentialing Service LLC
(3)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
11/2021
|
|
7.9
|
|
5,955
|
|
|
5,955
|
|
||
WHCG Management, LLC
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
03/2023
|
|
7.1
|
|
2,191
|
|
|
2,191
|
|
||
WIRB-Copernicus Group, Inc.
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2022
|
|
6.1
|
|
5,394
|
|
|
5,367
|
|
||
|
|
|
|
|
|
|
|
|
|
$
|
184,840
|
|
|
$
|
184,496
|
|
|
(1)
|
Represents the weighted average annual current interest rate as of
March 31, 2018
. All interest rates are payable in cash.
|
(2)
|
Represents the fair value in accordance with Accounting Standards Codification, or ASC, Topic 820 -
Fair Value Measurement
, or
ASC Topic 820. The determination of such fair value is not included in our board of directors' valuation process described elsewhere herein.
|
(3)
|
We also hold a portion of the first lien senior secured loan in this portfolio company.
|
GCIC SLF Loan Portfolio as of September 30, 2017
|
|||||||||||||||||
Portfolio Company
|
|
Business Description
|
|
Security Type
|
|
Maturity
Date
|
|
Current
Interest
Rate
(1)
|
|
Principal ($)
|
|
Fair
Value
(2)
|
|||||
|
|
|
|
|
|
|
|
|
|
(In thousands)
|
|||||||
1A Smart Start LLC
|
|
Home and Office Furnishings, Housewares, and Durable Consumer
|
|
Senior loan
|
|
02/2022
|
|
6.1
|
%
|
|
$
|
1,351
|
|
|
$
|
1,358
|
|
1A Smart Start LLC
|
|
Home and Office Furnishings, Housewares, and Durable Consumer
|
|
Senior loan
|
|
02/2022
|
|
5.8
|
|
|
599
|
|
|
599
|
|
||
Argon Medical Devices, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2021
|
|
6.0
|
|
|
2,816
|
|
|
2,816
|
|
||
Boot Barn, Inc.
|
|
Retail Stores
|
|
Senior loan
|
|
06/2021
|
|
5.8
|
|
|
5,285
|
|
|
5,285
|
|
||
Brandmuscle, Inc.
|
|
Printing and Publishing
|
|
Senior loan
|
|
12/2021
|
|
6.1
|
|
|
4,172
|
|
|
4,167
|
|
||
CLP Healthcare Services, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
6.6
|
|
|
2,049
|
|
|
2,008
|
|
||
CLP Healthcare Services, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
6.6
|
|
|
1,033
|
|
|
1,012
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
6.8
|
|
|
2,095
|
|
|
2,095
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
6.8
|
|
|
1,053
|
|
|
1,053
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
6.8
|
|
|
59
|
|
|
59
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
6.8
|
|
|
41
|
|
|
41
|
|
||
Curo Health Services LLC
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
02/2022
|
|
5.3
|
|
|
4,875
|
|
|
4,890
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
6.6
|
|
|
3,093
|
|
|
3,100
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
6.3
|
|
|
1,244
|
|
|
1,239
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
6.6
|
|
|
640
|
|
|
641
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
6.6
|
|
|
218
|
|
|
218
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
6.6
|
|
|
97
|
|
|
97
|
|
||
Elite Sportswear, L.P.
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
6.5
|
|
|
93
|
|
|
93
|
|
||
Elite Sportswear, L.P.
(4)
|
|
Retail Stores
|
|
Senior loan
|
|
03/2020
|
|
N/A
(5)
|
|
|
—
|
|
|
(2
|
)
|
||
Encore GC Acquisition, LLC
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
01/2020
|
|
6.8
|
|
|
2,108
|
|
|
2,108
|
|
||
Flexan, LLC
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
7.1
|
|
|
2,690
|
|
|
2,690
|
|
||
Flexan, LLC
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
7.1
|
|
|
752
|
|
|
752
|
|
||
Flexan, LLC
(3)
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
8.8
|
|
|
21
|
|
|
21
|
|
||
Gamma Technologies, LLC
(3)
|
|
Electronics
|
|
Senior loan
|
|
06/2021
|
|
6.0
|
|
|
4,411
|
|
|
4,411
|
|
||
Harvey Tool Company, LLC
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
03/2020
|
|
6.1
|
|
|
1,976
|
|
|
1,976
|
|
||
III US Holdings, LLC
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
09/2022
|
|
7.9
|
|
|
5,002
|
|
|
5,002
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
12/2021
|
|
6.3
|
|
|
1,973
|
|
|
1,973
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
12/2021
|
|
6.4
|
|
|
87
|
|
|
87
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
12/2021
|
|
6.4
|
|
|
55
|
|
|
55
|
|
||
Loar Group Inc.
|
|
Aerospace and Defense
|
|
Senior loan
|
|
01/2022
|
|
6.0
|
|
|
1,939
|
|
|
1,939
|
|
||
Loar Group Inc.
|
|
Aerospace and Defense
|
|
Senior loan
|
|
01/2022
|
|
6.0
|
|
|
1,337
|
|
|
1,337
|
|
||
Mills Fleet Farm Group LLC
(3)
|
|
Retail Stores
|
|
Senior loan
|
|
02/2022
|
|
6.7
|
|
|
6,000
|
|
|
6,000
|
|
||
Park Place Technologies LLC
(3)
|
|
Electronics
|
|
Senior loan
|
|
06/2022
|
|
6.3
|
|
|
5,996
|
|
|
5,936
|
|
||
Pasternack Enterprises, Inc. and Fairview Microwave, Inc
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
05/2022
|
|
6.2
|
|
|
5,013
|
|
|
5,013
|
|
||
Polk Acquisition Corp.
(3)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
6.2
|
|
|
8,297
|
|
|
8,131
|
|
||
Polk Acquisition Corp.
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
6.7
|
|
|
83
|
|
|
81
|
|
||
Polk Acquisition Corp.
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
6.2
|
|
|
53
|
|
|
52
|
|
||
PowerPlan Holdings, Inc.
(3)
|
|
Utilities
|
|
Senior loan
|
|
02/2022
|
|
6.5
|
|
|
7,126
|
|
|
7,126
|
|
||
Premise Health Holding Corp.
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
06/2020
|
|
5.8
|
|
|
5,925
|
|
|
5,925
|
|
||
Pyramid Healthcare, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2019
|
|
7.7
|
|
|
2,346
|
|
|
2,346
|
|
GCIC SLF Loan Portfolio as of September 30, 2017 - (continued)
|
|||||||||||||||||
Portfolio Company
|
|
Business Description
|
|
Security Type
|
|
Maturity
Date
|
|
Current
Interest
Rate
(1)
|
|
Principal ($)
|
|
Fair
Value
(2)
|
|||||
|
|
|
|
|
|
|
|
|
|
(In thousands)
|
|||||||
Pyramid Healthcare, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2019
|
|
7.9
|
%
|
|
$
|
144
|
|
|
$
|
144
|
|
Radiology Partners, Inc.
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
09/2020
|
|
7.1
|
%
|
|
7,095
|
|
|
7,095
|
|
||
Radiology Partners, Inc.
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
09/2020
|
|
7.1
|
|
|
542
|
|
|
542
|
|
||
Radiology Partners, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
09/2020
|
|
7.1
|
|
|
460
|
|
|
460
|
|
||
RSC Acquisition, Inc.
(3)
|
|
Insurance
|
|
Senior loan
|
|
11/2022
|
|
6.6
|
|
|
3,323
|
|
|
3,323
|
|
||
RSC Acquisition, Inc.
|
|
Insurance
|
|
Senior loan
|
|
11/2020
|
|
6.1
|
|
|
15
|
|
|
15
|
|
||
Rubio's Restaurants, Inc.
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
11/2018
|
|
6.1
|
|
|
1,676
|
|
|
1,676
|
|
||
Rug Doctor LLC
|
|
Personal and Non Durable Consumer Products (Mfg. Only)
|
|
Senior loan
|
|
06/2018
|
|
6.6
|
|
|
1,501
|
|
|
1,501
|
|
||
Saldon Holdings, Inc.
(3)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
09/2022
|
|
5.8
|
|
|
2,028
|
|
|
2,003
|
|
||
Sarnova HC, LLC
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
01/2022
|
|
6.0
|
|
|
3,301
|
|
|
3,301
|
|
||
SEI, Inc.
(3)
|
|
Electronics
|
|
Senior loan
|
|
07/2021
|
|
6.0
|
|
|
5,217
|
|
|
5,217
|
|
||
Self Esteem Brands, LLC
(3)
|
|
Leisure, Amusement, Motion Pictures, Entertainment
|
|
Senior loan
|
|
02/2020
|
|
6.0
|
|
|
6,443
|
|
|
6,443
|
|
||
Severin Acquisition, LLC
(3)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
07/2021
|
|
6.1
|
|
|
7,848
|
|
|
7,844
|
|
||
Severin Acquisition, LLC
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
07/2021
|
|
6.2
|
|
|
1,079
|
|
|
1,083
|
|
||
Smashburger Finance LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
05/2018
|
|
6.8
|
|
|
5,291
|
|
|
4,603
|
|
||
Smashburger Finance LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
05/2018
|
|
6.8
|
|
|
418
|
|
|
364
|
|
||
Smashburger Finance LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
05/2018
|
|
6.8
|
|
|
417
|
|
|
363
|
|
||
Smashburger Finance LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
05/2018
|
|
6.8
|
|
|
416
|
|
|
362
|
|
||
Smashburger Finance LLC
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
05/2018
|
|
6.8
|
|
|
415
|
|
|
361
|
|
||
Smashburger Finance LLC
(4)
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
05/2018
|
|
N/A
(5)
|
|
|
—
|
|
|
(90
|
)
|
||
Tate's Bake Shop, Inc.
(3)
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
08/2019
|
|
6.3
|
|
|
705
|
|
|
705
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
5.6
|
|
|
1,097
|
|
|
1,097
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
6.1
|
|
|
859
|
|
|
859
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
6.1
|
|
|
165
|
|
|
165
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
6.1
|
|
|
61
|
|
|
61
|
|
||
Transaction Data Systems, Inc.
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
06/2021
|
|
6.6
|
|
|
3,892
|
|
|
3,892
|
|
||
Transaction Data Systems, Inc.
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
06/2020
|
|
5.8
|
|
|
22
|
|
|
21
|
|
||
Vendor Credentialing Service LLC
(3)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
11/2021
|
|
7.2
|
|
|
5,985
|
|
|
5,985
|
|
||
WHCG Management, LLC
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
03/2023
|
|
6.1
|
|
|
2,202
|
|
|
2,202
|
|
||
WIRB-Copernicus Group, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2022
|
|
6.3
|
|
|
5,421
|
|
|
5,421
|
|
||
Young Innovations, Inc.
(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
01/2019
|
|
6.3
|
|
|
751
|
|
|
751
|
|
||
Young Innovations, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
01/2019
|
|
6.3
|
|
|
23
|
|
|
23
|
|
||
|
|
|
|
|
|
|
|
|
|
$
|
162,815
|
|
|
$
|
161,522
|
|
|
(1)
|
Represents the weighted average annual current interest rate as of
September 30, 2017
. All interest rates are payable in cash.
|
(2)
|
Represents the fair value in accordance with ASC Topic 820. The determination of such fair value is not included in our board of directors' valuation process described elsewhere herein.
|
(3)
|
We also hold a portion of the first lien senior secured loan in this portfolio company.
|
(4)
|
The negative fair value is the result of the unfunded commitment being valued below par.
|
(5)
|
The entire commitment was unfunded as of
September 30, 2017
. As such, no interest is being earned on this investment.
|
|
As of March 31, 2018
|
|
As of September 30, 2017
|
||||
|
(In thousands)
|
||||||
Selected Balance Sheet Information:
|
|
|
|
|
|
||
Investments, at fair value
|
$
|
184,496
|
|
|
$
|
161,522
|
|
Cash and other assets
|
8,996
|
|
|
3,029
|
|
||
Total assets
|
$
|
193,492
|
|
|
$
|
164,551
|
|
Senior credit facility
|
$
|
121,400
|
|
|
$
|
108,150
|
|
Unamortized debt issuance costs
|
(892
|
)
|
|
(1,199
|
)
|
||
Other liabilities
|
431
|
|
|
338
|
|
||
Total liabilities
|
120,939
|
|
|
107,289
|
|
||
Members’ equity
|
72,553
|
|
|
57,262
|
|
||
Total liabilities and members' equity
|
$
|
193,492
|
|
|
$
|
164,551
|
|
|
Three months ended March 31,
|
|
Six months ended March 31,
|
||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
|
(In thousands)
|
|
(In thousands)
|
||||||||||||
Selected Statement of Operations Information:
|
|
|
|
|
|
|
|
|
|
||||||
Interest income
|
$
|
3,222
|
|
|
$
|
2,612
|
|
|
$
|
6,033
|
|
|
$
|
5,053
|
|
Fee income
|
—
|
|
|
—
|
|
|
7
|
|
|
—
|
|
||||
Total investment income
|
3,222
|
|
|
2,612
|
|
|
6,040
|
|
|
5,053
|
|
||||
Interest and other debt financing expense
|
1,283
|
|
|
903
|
|
|
2,476
|
|
|
2,616
|
|
||||
Administrative service fee
|
62
|
|
|
51
|
|
|
116
|
|
|
106
|
|
||||
Other expenses
|
24
|
|
|
24
|
|
|
58
|
|
|
48
|
|
||||
Total expenses
|
1,369
|
|
|
978
|
|
|
2,650
|
|
|
2,770
|
|
||||
Net investment income (loss)
|
1,853
|
|
|
1,634
|
|
|
3,390
|
|
|
2,283
|
|
||||
Net change in unrealized appreciation (depreciation) on investments
|
467
|
|
|
(99
|
)
|
|
1,072
|
|
|
(37
|
)
|
||||
Net increase in members' equity
|
$
|
2,320
|
|
|
$
|
1,535
|
|
|
$
|
4,462
|
|
|
$
|
2,246
|
|
|
Payments Due by Period (In millions)
|
||||||||||||||||||
|
Total
|
|
Less Than
1 Year
|
|
1 – 3 Years
|
|
3 – 5 Years
|
|
More Than
5 Years
|
||||||||||
GCIC 2016 Debt Securitization
|
$
|
252.5
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
252.5
|
|
Credit Facility
|
405.8
|
|
|
—
|
|
|
—
|
|
|
405.8
|
|
|
—
|
|
|||||
SMBC Revolver
|
75.0
|
|
|
75.0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Revolver
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Unfunded commitments
(1)
|
177.3
|
|
|
177.3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Total contractual obligations
|
$
|
910.6
|
|
|
$
|
252.3
|
|
|
$
|
—
|
|
|
$
|
405.8
|
|
|
$
|
252.5
|
|
|
(1)
|
Unfunded commitments represent unfunded commitments to fund investments, excluding our investments in GCIC SLF, as of
March 31, 2018
these amounts may or may not be funded to the borrowing party now or in the future. The unfunded commitments relate to loans with various maturity dates, but we are showing this amount in the less than one year category as this entire amount was eligible for funding to the borrowers as of
March 31, 2018
, subject to the terms of each loan’s respective credit agreement.
|
•
|
We entered into the Investment Advisory Agreement with GC Advisors. Each of Mr. Lawrence Golub, our chairman, and Mr. David Golub, our chief executive officer, is a manager of GC Advisors, and each of Messrs. Lawrence Golub and David Golub owns an indirect pecuniary interest in GC Advisors.
|
•
|
Golub Capital LLC provides us with the office facilities and administrative services necessary to conduct day-to-day operations pursuant to our Administration Agreement.
|
•
|
We have entered into a license agreement with Golub Capital LLC, pursuant to which Golub Capital LLC has granted us a non-exclusive, royalty-free license to use the name “Golub Capital.”
|
•
|
GC Advisors serves as collateral manager to the GCIC 2016 Issuer under the 2016 GCIC Collateral Management Agreement and receives a fee for providing these services that is offset against the base management fee payable by us under the Investment Advisory Agreement.
|
•
|
Under a staffing agreement, or the Staffing Agreement, Golub Capital LLC has agreed to provide GC Advisors with the resources necessary to fulfill its obligations under the Investment Advisory Agreement. The Staffing Agreement provides that Golub Capital LLC will make available to GC Advisors experienced investment professionals and provide access to the senior investment personnel of Golub Capital LLC for purposes of evaluating, negotiating, structuring, closing and monitoring our investments. The Staffing Agreement also includes a commitment that the members of GC Advisors’ investment committee will serve in such capacity. Services under the Staffing Agreement are provided on a direct cost reimbursement basis.
|
•
|
We have entered into the Revolver with GC Advisors in order to have the ability to borrow funds on a short-term basis.
|
•
|
Immediately prior to our election to be regulated as a business development company, we acquired our initial portfolio of investments by purchasing (1) all of the outstanding equity interests of GCIC Holdings LLC, or GCIC Holdings, and GCIC Funding, from GEMS Fund, L.P., a Delaware limited partnership whose general partner is controlled by GC Advisors, and (2) loans from certain unaffiliated third-party investors. At the time of our acquisition of their respective equity interests, the only assets (other than certain cash and cash equivalents) of GCIC Funding and GCIC Holdings were one stop and other senior secured loans to U.S. middle-market companies consistent with our investment objectives and strategies. Each of the loans acquired in our formation transactions had been underwritten by GC Advisors at the time of origination or acquisition using the same criteria and standards as GC Advisors uses in connection with the origination or acquisition of loans for us.
|
•
|
Our quarterly valuation process begins with each portfolio company investment being initially valued by the investment professionals of GC Advisors responsible for credit monitoring.
|
•
|
Preliminary valuation conclusions are then documented and discussed with our senior management and GC Advisors.
|
•
|
The audit committee of our board of directors reviews these preliminary valuations.
|
•
|
At least once annually, the valuation for each portfolio investment is reviewed by an independent valuation firm.
|
•
|
The board of directors discusses valuations and determines the fair value of each investment in our portfolio in good faith.
|
•
|
The net asset value of our common stock disclosed in the most recent periodic report filed with the SEC;
|
•
|
Its assessment of whether any change in the net asset value per share of our common stock has occurred (including through the realization of gains on the sale of portfolio securities) during the period beginning on the date of the most recently disclosed net asset value per share of our common stock and ending two days prior to the date of the sale; and
|
•
|
The magnitude of the difference between the sale price of the shares of common stock and management’s assessment of any change in the net asset value per share of our common stock during the period discussed above.
|
Change in interest rates
|
|
Increase (decrease) in
interest income
|
|
Increase (decrease) in
interest expense
|
|
Net increase
(decrease) in
investment income
|
||||||
|
|
(In thousands)
|
||||||||||
Down 25 basis points
|
|
$
|
(3,725
|
)
|
|
$
|
(1,833
|
)
|
|
$
|
(1,892
|
)
|
Up 50 basis points
|
|
7,451
|
|
|
3,667
|
|
|
3,784
|
|
|||
Up 100 basis points
|
|
14,901
|
|
|
7,333
|
|
|
7,568
|
|
|||
Up 150 basis points
|
|
22,351
|
|
|
11,000
|
|
|
11,351
|
|
|||
Up 200 basis points
|
|
29,802
|
|
|
14,666
|
|
|
15,136
|
|
|
|
|
|
Number
|
|
Description
|
|
|
|
|
|
|
First Amendment to Revolving Loan Agreement, dated as of February 6, 2018, by and between Golub Capital Investment Corporation and GC Advisors LLC*
|
|
|
|
Certification of Chief Executive Officer pursuant to Rule 13a-14 of the Securities Exchange Act of 1934, as amended.*
|
|
|
|
Certification of Chief Financial Officer pursuant to Rule 13a-14 of the Securities Exchange Act of 1934, as amended.*
|
|
|
|
Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.*
|
|
|
Golub Capital Investment Corporation
|
|
|
|
|
Dated: May 10, 2018
|
By
|
/s/ David B. Golub
|
|
|
David B. Golub
|
|
|
Chief Executive Officer
|
|
|
(Principal Executive Officer)
|
|
|
|
Dated: May 10, 2018
|
By
|
/s/ Ross A. Teune
|
|
|
Ross A. Teune
|
|
|
Chief Financial Officer
|
|
|
(Principal Accounting and Financial Officer)
|
|
BORROWER:
|
|
GOLUB CAPITAL INVESTMENT CORPORATION
|
|
By:
/s/ David B. Golub
Name: David B. Golub Title: President and Chief Executive Officer |
|
|
|
LENDER:
|
|
GC ADVISORS LLC
|
|
By:
/s/ David B. Golub
Name: David B. Golub Title: President |
|
(1)
|
The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange
Act of 1934; and
|
|
(2)
|
The information contained in the Report fairly presents, in all material respects, the financial condition
and results of operations of the Company.
|
Date: May 10, 2018
|
/s/ David B. Golub
|
|
David B. Golub
Chief Executive Officer
|
|
|
|
/s/ Ross A. Teune
|
|
Ross A. Teune
Chief Financial Officer
|