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 March 31, 2026

$25.0B

Investments at Fair Value

9.3%

Portfolio Yield at Fair Value1

94%

Private Investments2

95%

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
Empower Payments Investor, LLC (RevSpring) Financial Services 1st Lien Senior Secured Debt S + 4.50% $ 221,794 209,431 210,242 0.84%
MB2 Dental Solutions, LLC Health Care Providers & Services 1st Lien Senior Secured Debt S + 5.50% $ 220,599 204,529 206,404 0.83%
Oak Funding LLC Financial Services 1st Lien Senior Secured Debt S + 4.50% $ 220,000 198,342 198,690 0.79%
Valence Surface Technologies LLC Aerospace & Defense 1st Lien Senior Secured Debt S + 7.00% $ 217,514 199,017 203,157 0.81%
Zendesk Inc (Zendesk, Inc.) Software 1st Lien Senior Secured Debt S + 5.00% $ 216,057 196,292 193,175 0.77%
Advarra Holdings, Inc. (Advarra, Inc.) Life Sciences Tools & Services 1st Lien Senior Secured Debt S + 4.50% $ 214,551 207,011 208,531 0.83%
Bayou Intermediate II, LLC (Cordis) Health Care Equipment & Supplies 1st Lien Senior Secured Debt S + 4.75% $ 214,422 179,443 179,788 0.72%
WP CPP Holdings, LLC (Consolidated Precision Products) Aerospace & Defense 1st Lien Senior Secured Debt S + 6.25% $ 208,225 205,419 212,016 0.85%
Spruce Bidco II Inc (Vantive) Health Care Equipment & Supplies 1st Lien Senior Secured Debt S + 4.75% $ 207,194 170,460 171,243 0.68%
IRI Group Holdings, Inc. (Circana Group, LP.) Professional Services 1st Lien Senior Secured Debt S + 4.25% $ 206,163 204,838 206,163 0.82%
NP Kaba Megersub, Inc. (Kabafusion LLC) Health Care Providers & Services 1st Lien Senior Secured Debt S + 4.50% $ 205,216 176,419 175,186 0.70%
Kona Buyer, LLC (Redsail Technologies) Software 1st Lien Senior Secured Debt S + 4.50% $ 203,754 118,748 117,149 0.47%
Kryptona Bidco US, LLC (Kyriba) Software 1st Lien Senior Secured Debt S + 5.75% (incl 3.13% PIK) $ 200,436 197,524 198,451 0.79%
Flexera Software LLC (Flexera Software, LLC) Software 1st Lien Senior Secured Debt S + 4.50% $ 199,944 199,489 195,121 0.78%
Guidehouse Inc. Professional Services 1st Lien Senior Secured Debt S + 4.75% $ 190,401 188,847 183,320 0.73%
Holdings 2, L.P. (Project Quicksilver) Financial Services Preferred Equity 11.50% $ 187,500 184,219 184,279 0.74%
Fire Flow Intermediate Corporation (ASC Engineered Solutions LLC) Building Products 1st Lien Senior Secured Debt S + 4.75% $ 183,717 120,900 120,631 0.48%
Axiom Buyer, LLC (Axiom) Commercial Services & Supplies 1st Lien Senior Secured Debt S + 6.50% $ 182,453 157,867 158,442 0.63%
Club Car Wash Operating, LLC (Club Car Wash) Diversified Consumer Services 1st Lien Senior Secured Debt S + 5.50% $ 181,677 177,121 178,294 0.71%
Iris Capital Holdings Pty Ltd (Iris Capital) Hotels, Restaurants & Leisure Other Secured Debt B + 5.50% A$ 180,714 28,159 27,313 0.11%
NDT Global Holding Inc. (NDT Global) Commercial Services & Supplies 1st Lien Senior Secured Debt S + 4.50% $ 176,437 145,929 146,468 0.59%
Palmetto TE Borrower LLC Independent Power and Renewable Electricity Producers 1st Lien Senior Secured Debt S + 5.50% $ 172,374 170,390 170,618 0.68%
DIA Finance S.L.U. (Distribuidora Internacional de Alimentación, S.A.) Consumer Staples Distribution & Retail 1st Lien Senior Secured Debt E + 6.50% € 170,600 173,876 196,693 0.79%
Pike Corporation (Pike Corp) Construction & Engineering 1st Lien Senior Secured Debt S + 4.50% $ 164,001 118,222 117,278 0.47%
Radwell Parent, LLC Machinery 1st Lien Senior Secured Debt S + 4.75% $ 163,599 151,144 153,424 0.61%

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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 March 31, 2026.
  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 March 31, 2026 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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