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 November 30, 2025

$24.9B

Investments at Fair Value

9.6%

Portfolio Yield at Fair Value1

93%

Private Investments2

96%

First Lien Exposure3

99%

Floating Rate4

$242M

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
Bain Capital Credit CLO 2024-3 Ltd (Bain Capital Credit CLO, Limit) Structured Finance Structured Finance investments S + 6.25% $2,000 2,000 2,020 0.01%
Plasma Buyer LLC (Path Group Inc.) Medical Equipment and Services 1st Lien Senior Secured Debt S + 6.25% $3,124 3,088 2,552 0.01%
Ribbon Communications Operating Company, Inc Telecommunications Equipment 1st Lien Senior Secured Debt S + 6.25% $61,710 54,469 55,915 0.22%
Team, Inc. Industrial Support Services 1st Lien Senior Secured Debt S + 6.25% $66,927 50,656 51,151 0.21%
WCAS XIII Primary Care Investors, L.P. Health Care Providers 1st Lien Senior Secured Debt S + 6.25% $135,630 134,037 133,373 0.54%
Orthrus Ltd (Ocorian) Investment Banking and Brokerage Services 1st Lien Senior Secured Debt S + 6.25% (incl 2.75% PIK) $94,714 93,312 94,003 0.38%
WorkWave Intermediate II, LLC Software and Computer Services 1st Lien Senior Secured Debt S + 6.25% (incl 3.12% PIK) $94,004 93,087 93,086 0.37%
Tricentis Operations Holdings Inc (Tricentis) Software and Computer Services 1st Lien Senior Secured Debt S + 6.25% (incl 4.88% PIK) $166,300 137,982 139,501 0.56%
720 East CLO V, Ltd. Structured Finance Structured Finance investments S + 6.30% $4,000 4,000 4,036 0.02%
TechInsights Inc. Technology Hardware and Equipment 1st Lien Senior Secured Debt S + 6.31% $3,472 3,446 3,472 0.01%
AB Centers Acquisition Corporation (Action Behavior Centers LLC) Health Care Providers 1st Lien Senior Secured Debt S + 6.32% $1,326 1,317 1,319 0.01%
DigiCert Inc Software and Computer Services 1st Lien Senior Secured Debt S + 6.40% $2,000 1,972 1,975 0.01%
Associations Inc. Real Estate Investment and Services 1st Lien Senior Secured Debt S + 6.50% $62,898 56,944 56,983 0.23%
Axiom Buyer, LLC (Axiom) Industrial Support Services 1st Lien Senior Secured Debt S + 6.50% $183,204 157,044 158,334 0.64%
Einstein Parent Inc (Smartsheet) Software and Computer Services 1st Lien Senior Secured Debt S + 6.50% $103,808 92,283 92,800 0.37%
IXM Holdings, Inc. (Impact) Consumer Services 1st Lien Senior Secured Debt S + 6.50% $24,856 22,072 22,333 0.09%
Kpler Finance SA Software and Computer Services 1st Lien Senior Secured Debt S + 6.50% $20,000 17,731 17,876 0.07%
LSF12 Donnelly Bidco, LLC (Carlisle Fluid) Industrial Engineering 1st Lien Senior Secured Debt S + 6.50% $19,529 19,217 19,529 0.08%
ONE Group, LLC (The One Group, LLC) Travel and Leisure 1st Lien Senior Secured Debt S + 6.50% $50,092 49,068 48,835 0.20%
Octagon 63 Ltd Structured Finance Structured Finance investments S + 6.50% $3,000 3,000 3,051 0.01%
TPG VIII Merlin New Holdings I, L.P. (DirecTV) Asset Based Lending and Fund Finance Other Secured Debt S + 6.50% $31,601 31,330 31,451 0.13%
Technology Growth Capital Pty Ltd (Nitro Software Inc) Software and Computer Services 1st Lien Senior Secured Debt S + 6.50% $30,127 29,494 30,092 0.12%
Time Manufacturing Company Industrial Engineering 1st Lien Senior Secured Debt S + 6.50% $13,322 13,221 10,234 0.04%
W3 TopCo LLC (Total Safety) Industrial Support Services 1st Lien Senior Secured Debt S + 6.50% $88,545 86,206 80,495 0.32%
WP CPP Holdings, LLC (Consolidated Precision Products) Aerospace and Defense 1st Lien Senior Secured Debt S + 6.50% $26,285 (438) - 0.00%

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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 November 30, 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 FTSE / DJ Industry Classification Benchmark (“ICB”) sector definition. Totals may not sum due to rounding.
  9. All figures are as of November 30, 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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