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
Alliant Holdings Intermediate, LLC (Alliant Insurance Services, Inc.) Non-life Insurance 1st Lien Senior Secured Debt SF + 2.75% $18,651 18,510 18,592 0.09%
Belron Finance 2019 LLC (Belron) Retailers 1st Lien Senior Secured Debt SF + 2.75% $14,609 14,569 14,688 0.07%
CRC Insurance Group LLC (Truist Insurance Holding) Non-life Insurance 1st Lien Senior Secured Debt SF + 2.75% $10,049 10,006 10,044 0.05%
Clarios Global LP (Clarios) Automobiles and Parts 1st Lien Senior Secured Debt SF + 2.75% $5,366 5,360 5,359 0.03%
Cogentrix Finance Holdco I LLC (Cogentrix) Electricity 1st Lien Senior Secured Debt SF + 2.75% $5,772 5,752 5,794 0.03%
Delta Topco, Inc. (Infoblox) Software and Computer Services 1st Lien Senior Secured Debt SF + 2.75% $19,100 19,045 19,019 0.10%
Grant Thornton LLP (Grant Thornton) Investment Banking and Brokerage Services 1st Lien Senior Secured Debt SF + 2.75% $15,203 14,823 14,795 0.07%
Hobbs & Associates LLC (Air Control) Construction and Materials 1st Lien Senior Secured Debt SF + 2.75% $15,435 15,377 15,396 0.08%
Madison Safety & Flow LLC (Madison Safety & Flow) Industrial Support Services 1st Lien Senior Secured Debt SF + 2.75% $4,169 4,160 4,180 0.02%
PEX Holdings LLC (Gen II Fund Services, LLC) Industrial Support Services 1st Lien Senior Secured Debt SF + 2.75% $15,000 14,965 14,991 0.08%
Roper Industrial Products Investment Co (Indicor) Industrial Engineering 1st Lien Senior Secured Debt SF + 2.75% $20,446 20,034 20,386 0.10%
Shift4 Payments LLC (Shift4 Payments) Industrial Support Services 1st Lien Senior Secured Debt SF + 2.75% $1,341 1,338 1,351 0.01%
Stonepeak Nile Parent LLC (ATSG) Industrial Transportation 1st Lien Senior Secured Debt SF + 2.75% $3,529 3,521 3,528 0.02%
Zelis Payments Buyer, Inc. (ZelisRedCard) Software and Computer Services 1st Lien Senior Secured Debt SF + 2.75% $10,884 10,842 10,820 0.05%
Ares Secondaries PBN Finance Co IV LLC (Ares Secondaries Pbn Finance Co IV LLCFO) Structured Finance Structured Finance investments SF + 2.90% $1,000 10 10 0.00%
Amynta Agency Borrower Inc (Amynta) Non-life Insurance 1st Lien Senior Secured Debt SF + 3.00% $19,965 19,599 19,925 0.10%
Ascensus Holdings, Inc. (AqGen Ascensus, Inc.) Investment Banking and Brokerage Services 1st Lien Senior Secured Debt SF + 3.00% $14,080 14,015 14,058 0.07%
AthenaHealth Group Inc. (AthenaHealth) Health Care Providers 1st Lien Senior Secured Debt SF + 3.00% $18,176 18,031 18,130 0.09%
BroadStreet Partners, Inc. (Broadstreet Partners Inc) Non-life Insurance 1st Lien Senior Secured Debt SF + 3.00% $11,090 11,020 11,115 0.06%
Precision Medicine Group, LLC Health Care Providers 1st Lien Senior Secured Debt SF + 3.00% $7,979 7,918 7,964 0.04%
Proofpoint, Inc. (Proofpoint Inc) Software and Computer Services 1st Lien Senior Secured Debt SF + 3.00% $17,040 16,877 17,055 0.09%
QXO Inc (QXO) Industrial Support Services 1st Lien Senior Secured Debt SF + 3.00% $1,995 1,975 2,004 0.01%
TK Elevator US Newco Inc (TK Elevator) Industrial Engineering 1st Lien Senior Secured Debt SF + 3.00% $15,030 14,884 15,083 0.08%
UKG Inc (Ultimate Software Group) Software and Computer Services 1st Lien Senior Secured Debt SF + 3.00% $16,537 16,423 16,587 0.08%
WCG Intermediate Corp (WCG) Pharmaceuticals and Biotechnology 1st Lien Senior Secured Debt SF + 3.00% $15,324 15,223 15,161 0.08%

Engage with HLEND

Start Here

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.