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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
American Academy Holdings, LLC (American Academy of Professional Coders) Diversified Consumer Services S + 9.75% (incl 5.25% PIK) $59,459 59,459 57,081 0.23%
Associations Inc. Real Estate Management & Development S + 6.50% $62,609 56,876 56,910 0.23%
Plasma Buyer LLC (Path Group Inc.) Health Care Providers & Services S + 5.75% PIK $99,193 91,271 55,423 0.22%
Inflexion BFVI Financing Limited Asset Based Lending and Fund Finance SN +4.50% PIK £42,082 55,822 55,199 0.22%
Meralm Bidco AB (Miss Group) IT Services E + 9.50% (incl 4.75% PIK) €50,140 54,909 54,957 0.22%
Kryptona Bidco US, LLC (Kyriba) Software E + 5.75% (incl 3.13% PIK) €47,880 50,374 54,796 0.22%
Ribbon Communications Operating Company, Inc Communications Equipment S + 6.25% $61,007 53,856 54,212 0.22%
YA Intermediate Holdings II LLC (Young and Associates) Professional Services S + 5.00% $76,511 53,137 53,485 0.21%
Elements Finco Limited (IRIS Software) Software SN + 5.25% (incl 2.25% PIK) £39,884 49,540 52,782 0.21%
Cadence - Southwick, Inc. (Cadence Engines) Aerospace & Defense S + 4.75% $61,092 51,664 52,506 0.21%
Elements Finco Limited (IRIS Software) Software SN + 5.50% (incl 2.50% PIK) £38,708 48,360 51,226 0.20%
Skywalker Purchaser, LLC (Redsail Technologies) Software S + 4.50% $51,849 51,501 51,094 0.20%
Spirit RR Holdings, Inc. (Reorg Research) Professional Services S + 4.50% $54,554 50,493 50,975 0.20%
Team, Inc. Commercial Services & Supplies S + 5.75% $66,796 50,616 50,848 0.20%
CC WDW Borrower, Inc. (Advantek, LLC) Electronic Equipment, Instruments & Components S + 6.75% $51,486 49,740 50,202 0.20%
Cadillac Bidco S.À R.L. (Adevinta Spain SL) Interactive Media & Services E + 4.75% €43,415 51,051 49,936 0.20%
Medallia Inc (Medallia, Inc.) Software S + 6.00% $82,826 80,815 49,828 0.20%
MRO Maryruth LLC Personal Care Products S + 3.50% $48,388 48,114 48,388 0.19%
ONE Group, LLC (The One Group, LLC) Hotels, Restaurants & Leisure S + 6.50% $49,456 48,543 48,184 0.19%
TriMech Acquisition Corp. (TriMech) Software SN + 4.75% £35,424 43,142 46,880 0.19%
Orthrus Ltd (Ocorian) Financial Services SN + 6.25% (incl 2.75% PIK) £42,666 44,599 46,335 0.19%
Artifact Bidco, Inc. (Avetta, LLC) Software S + 4.15% $65,000 45,284 45,788 0.18%
Global Service GmbH (Global Gruppe) Insurance E + 6.75% €38,764 44,211 45,253 0.18%
EasyPark Strategy AB Software S + 4.75% $45,577 45,037 44,808 0.18%
SI Swan UK Bidco Ltd (Sapiens) Software S + 4.75% $65,951 45,387 44,389 0.18%

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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.

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

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