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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 May 31, 2025

$19.9B

Investments at Fair Value

10.0%

Portfolio Yield at Fair Value1

91%

Private Investments2

97%

First Lien Exposure3

99%

Floating Rate4

$229M

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
Radwell Parent, LLC Industrial Engineering 1st Lien Senior Secured Debt SF + 5.50% $165,153 149,366 152,360 0.77%
Kryptona Bidco US, LLC (Kyriba) Software and Computer Services 1st Lien Senior Secured Debt SF + 6.25% (incl 3.38% PIK) $155,339 152,457 152,097 0.76%
Harp Finco LTD (Hargreaves Lansdown PLC) Investment Banking and Brokerage Services 1st Lien Senior Secured Debt SN + 5.50% £113,774 144,466 150,221 0.75%
Kpler Finance SA Software and Computer Services 1st Lien Senior Secured Debt SF + 5.50% $180,000 149,343 149,345 0.75%
Royal Buyer, LLC (Kings III of America, LLC) Industrial Support Services 1st Lien Senior Secured Debt SF + 5.00% $153,574 145,218 146,574 0.74%
FC Compassus LLC (Compassus) Health Care Providers 1st Lien Senior Secured Debt SF + 5.50% (incl 1.25% PIK) $161,862 145,586 145,870 0.73%
SPOTLESS BRANDS, LLC Consumer Services 1st Lien Senior Secured Debt SF + 5.75% $146,217 142,574 144,320 0.72%
Aurelia Netherlands Midco 2 B.V. (Adevinta ASA) Software and Computer Services 1st Lien Senior Secured Debt E + 4.75% € 125,373 137,631 140,890 0.71%
Club Car Wash Operating, LLC (Club Car Wash) Consumer Services 1st Lien Senior Secured Debt SF + 5.50% $154,101 139,279 140,456 0.71%
Travel Leaders Group, LLC (Travel Leaders) Travel and Leisure 1st Lien Senior Secured Debt SF + 7.50% (incl 3.50% PIK) $141,698 139,789 141,143 0.71%
Diagnostic Services Holdings, Inc. (Rayus Radiology) Health Care Providers 1st Lien Senior Secured Debt SF + 5.50% $140,920 138,887 138,778 0.70%
Databricks Inc (Databricks) Software and Computer Services 1st Lien Senior Secured Debt SF + 4.50% $168,074 136,676 136,037 0.68%
Femur Buyer Inc (Orchid Orthopedic Solutions, LLC) Medical Equipment and Services 1st Lien Senior Secured Debt SF + 8.25% (incl 4.50% PIK) $143,961 141,212 134,809 0.68%
Galway Borrower LLC Non-life Insurance 1st Lien Senior Secured Debt SF + 4.50% $144,689 134,609 135,021 0.68%
Zeus Company LLC (Zeus Company Inc.) Medical Equipment and Services 1st Lien Senior Secured Debt SF + 5.50% $167,764 132,631 136,176 0.68%
SimpliSafe Holding Corporation Industrial Support Services 1st Lien Senior Secured Debt SF + 6.25% $132,481 131,147 132,481 0.67%
Tricentis Operations Holdings Inc (Tricentis) Software and Computer Services 1st Lien Senior Secured Debt SF + 6.25% (incl 4.88% PIK) $162,890 134,466 133,868 0.67%
WCAS XIII Primary Care Investors, L.P. Health Care Providers 1st Lien Senior Secured Debt SF + 6.25% $135,630 133,841 133,352 0.67%
Saga Mid Co Limited (Saga PLC) Travel and Leisure 1st Lien Senior Secured Debt SN + 6.75% £135,976 122,990 130,874 0.66%
Stack Sports Buyer, LLC Software and Computer Services 1st Lien Senior Secured Debt SF + 5.75% (incl 3.13% PIK) $161,176 129,516 129,521 0.65%
Tivity Health Inc Health Care Providers 1st Lien Senior Secured Debt SF + 5.00% $129,495 127,881 129,495 0.65%
Fire Flow Intermediate Corporation (ASC Engineered Solutions LLC) Industrial Engineering 1st Lien Senior Secured Debt SF + 5.00% $123,681 122,590 124,537 0.63%
Kona Buyer, LLC (Redsail Technologies) Software and Computer Services 1st Lien Senior Secured Debt SF + 4.50% $168,203 119,832 122,858 0.62%
RH Buyer, Inc. (Robinson Helicopter Co) Aerospace and Defense 1st Lien Senior Secured Debt SF + 6.50% $133,520 122,736 122,917 0.62%
TecoStar Holdings Inc (Tecomet Inc) Medical Equipment and Services 1st Lien Senior Secured Debt SF + 8.00% $126,897 124,876 123,251 0.62%

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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 May 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 FTSE / DJ Industry Classification Benchmark (“ICB”) sector definition. Totals may not sum due to rounding.
  9. All figures are as of May 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. PIK rates on preferred equity investments may represent preference accruals that are not recognized through NII of the fund and as such are not included in the calculation of yield.