Portfolio

HLEND seeks to build a diversified portfolio of senior secured private credit investments in resilient, market-leading, upper-middle market companies that operate primarily in non-cyclical sectors.

Data as of December 31, 2025

$25.3B

Investments at Fair Value

9.4%

Portfolio Yield at Fair Value1

93%

Private Investments2

96%

First Lien Exposure3

99%

Floating Rate4

$255M

Weighted Average EBITDA5

Portfolio Companies89

Clear Filters
Company Name
Industry
Investment Type
Reference Rate & Spread11
Par Amount (thousands)
Amortized Cost (thousands)
Fair Value (thousands)
% of Total Portfolio
Arcfield Acquisition Corp (TigerCub) Aerospace & Defense 1st Lien Senior Secured Debt S + 5.00% $102,577 88,662 89,573 0.35%
Cadence - Southwick, Inc. (Cadence Engines) Aerospace & Defense 1st Lien Senior Secured Debt S + 4.75% $61,204 51,310 52,228 0.21%
Carbon Topco, Inc. (Parker Meggitt - Advanced Materials Division) Aerospace & Defense 1st Lien Senior Secured Debt S + 5.75% $71,569 70,417 71,569 0.28%
Carbon Topco, Inc. (Parker Meggitt - Advanced Materials Division) Aerospace & Defense 1st Lien Senior Secured Debt S + 6.00% $11,985 -189 - 0.00%
Fastener Distribution Holdings, LLC (FDH Aero) Aerospace & Defense 1st Lien Senior Secured Debt S + 4.75% $103,381 85,081 86,116 0.34%
Frontgrade Technologies Holdings Inc. (CAES Space) Aerospace & Defense 1st Lien Senior Secured Debt S + 5.25% $8,694 8,622 8,420 0.03%
Frontgrade Technologies Holdings Inc. (CAES Space) Aerospace & Defense 1st Lien Senior Secured Debt S + 5.00% $8,844 2,924 2,829 0.01%
Frontgrade Technologies Holdings Inc. (CAES Space) Aerospace & Defense 1st Lien Senior Secured Debt S + 5.25% (incl 1.50% PIK) $44,567 43,831 43,161 0.17%
Goat Holdco LLC (Barnes Group) Aerospace & Defense 1st Lien Senior Secured Debt S + 2.75% $7,396 7,325 7,423 0.03%
RH Buyer Inc (Robinson Helicopter Co) Aerospace & Defense 1st Lien Senior Secured Debt S + 6.50% $130,805 124,191 122,942 0.49%
Tex-Tech Industries, Inc. Aerospace & Defense 1st Lien Senior Secured Debt S + 4.75% $116,096 95,624 97,598 0.39%
Titan BW Borrower L.P. (Triumph Group Inc) Aerospace & Defense 1st Lien Senior Secured Debt S + 4.75% $69,991 -662 -540 0.00%
Titan BW Borrower L.P. (Triumph Group Inc) Aerospace & Defense 1st Lien Senior Secured Debt S + 5.37% (incl 2.87% PIK) $250,922 248,594 248,988 0.98%
Valence Surface Technologies LLC Aerospace & Defense 1st Lien Senior Secured Debt S + 7.00% $59,045 43,460 44,782 0.18%
Valence Surface Technologies LLC Aerospace & Defense 1st Lien Senior Secured Debt S + 8.25% (incl 6.50% PIK) $155,520 152,413 155,840 0.62%
WP CPP Holdings, LLC (Consolidated Precision Products) Aerospace & Defense 1st Lien Senior Secured Debt S + 6.50% $26,285 -429 - 0.00%
WP CPP Holdings, LLC (Consolidated Precision Products) Aerospace & Defense 1st Lien Senior Secured Debt S + 7.00% (incl 3.88% PIK) $206,712 203,710 211,394 0.83%
West Star Aviation Acquisition, LLC (West Star Aviation) Aerospace & Defense 1st Lien Senior Secured Debt S + 4.50% $71,437 58,705 59,440 0.23%
Zeppelin US Buyer Inc. (Global Critical Logistics) Air Freight & Logistics 1st Lien Senior Secured Debt S + 4.75% $125,000 84,481 85,553 0.34%
Inflexion BFVI Financing Limited Asset Based Lending and Fund Finance Other Secured Debt SN +4.50% PIK £41,244 54,671 55,293 0.22%
Montagu Lux Finco Sarl Asset Based Lending and Fund Finance 1st Lien Senior Secured Debt E + 5.50% €65,158 33,408 37,449 0.15%
TPG VIII Merlin New Holdings I, L.P. (DirecTV) Asset Based Lending and Fund Finance Other Secured Debt S + 6.50% $31,601 31,348 31,461 0.12%
Belron Finance 2019 LLC (Belron) Automobile Components 1st Lien Senior Secured Debt S + 2.25% $14,500 14,463 14,599 0.06%
Clarios Global LP (Clarios) Automobile Components 1st Lien Senior Secured Debt S + 2.50% $10,616 10,579 10,644 0.04%
Tenneco Inc Automobile Components 1st Lien Senior Secured Debt S + 4.75% $3,862 3,812 3,795 0.01%

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Footnotes

  1. Computed as (a) the annual stated interest rate or yield plus the annual accretion of discounts and less any annual amortization of premiums, as applicable, on accruing (i) debt and (ii) other income producing securities, divided by (b) total accruing (i) debt and (ii) other income producing securities (at fair value). Actual yields earned over the life of each investment could differ materially from the yields presented above. Please refer to HLEND’s prospectus and filings, including Form 10-Q or Form 10-K for fair value disclosures.
  2. Private Investments represents level 3 investments in the investment portfolio where inputs to the valuation methodology are unobservable and significant to overall fair value measurement. Private investments includes investments in joint ventures.
  3. Based on the aggregate fair value of the investment portfolio as of December 31, 2025.
  4. Percentage based on aggregate fair value of accruing debt.
  5. Calculated with respect to all level 3 investments (or, with respect to weighted average loan to value, all level 3 debt investments) in the investment portfolio for which fair value is determined by the Investment Adviser (in its capacity as the investment adviser of HLEND, with assistance, at least quarterly, from a third-party valuation firm, and overseen by HLEND’s Board of Trustees), and excludes quoted assets and investments in joint ventures. In the case of weighted average EBITDA only, excludes investments with no reported EBITDA or where EBITDA, in the Investment Adviser’s judgement made in its discretion, was not a material component of the original investment thesis, such as loan-to-value-based loans, NAV-based loans or reorganized equity. Weighted average EBITDA is weighted based on the fair value of the total applicable level 3 investments. Loan to value is calculated as net debt through each respective investment tranche in which HLEND holds an investment divided by enterprise value or value of underlying collateral of the portfolio company. Weighted average loan to value is weighted based on the fair value of the total applicable level 3 debt investments. Excludes investments on non-accrual status as of October 31, 2024. Figures are derived from the most recent financial statements from portfolio companies.
  6. Includes “last out” portions of first lien senior secured loans.
  7. Secured debt at the holding company level.
  8. Based on MSCI / S&P Global Industry Classification Standard (“GICS”) industry definition. Totals may not sum due to rounding. 
  9. All figures are as of December 31, 2025 unless otherwise indicated. % of total portfolio shown above is measured as total fair value of investments.
  10. Other includes structured finance investments.
  11. Contractual rates on preferred equity investments may represent preference accruals that are not recognized through investment income of the fund and as such are not included in the calculation of yield. The fair value of these investments may be influenced by the stated preference accrual or a minimum return threshold.

Important Notice

This site and the materials herein are directed only to certain types of investors and to persons in jurisdictions where HPS Corporate Lending Fund (“HLEND”) is authorized for distribution.

Complete information about investing in shares of HLEND is available in the prospectus. An investment in HLEND involves risks.

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