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
Ribbon Communications Operating Company, Inc Telecommunications Equipment 1st Lien Senior Secured Debt SF + 6.25% $62,203 54,829 55,060 0.28%
Madonna Bidco Limited (Isio) Investment Banking and Brokerage Services 1st Lien Senior Secured Debt SN + 5.25% £61,566 65,502 70,295 0.35%
Cadence - Southwick, Inc. (Cadence Engines) Aerospace and Defense 1st Lien Senior Secured Debt SF + 5.00% $61,539 52,048 53,589 0.27%
Tango Bidco SAS (Orisha) Software and Computer Services 1st Lien Senior Secured Debt E + 5.00% € 61,534 56,304 59,791 0.30%
Frontgrade Technologies Holdings Inc. (CAES Space) Aerospace and Defense 1st Lien Senior Secured Debt SF + 5.00% $60,329 52,432 53,427 0.27%
Puma Buyer LLC (Pantherx Rare) Personal Care, Drug and Grocery Stores 1st Lien Senior Secured Debt SF + 4.25% $59,835 59,397 59,397 0.30%
BLY US Holdings Inc. (Boart Longyear Management) Industrial Metals and Mining 1st Lien Senior Secured Debt SF + 6.00% $59,586 58,422 58,595 0.29%
Aesthetics Australia Group Pty Ltd (Laser Clinics Group) Consumer Services 1st Lien Senior Secured Debt B + 8.31% (incl 4.06% PIK) AUD 57,807 36,805 32,979 0.17%
Netrisk Group Luxco 4 S.A.R.L. (Netrisk) Non-life Insurance 1st Lien Senior Secured Debt E + 5.25% € 57,650 54,942 59,678 0.30%
Certinia Inc. (FinancialForce) Software and Computer Services 1st Lien Senior Secured Debt SF + 5.25% $57,520 50,986 52,592 0.26%
American Academy Holdings, LLC (American Academy of Professional Coders) Consumer Services 1st Lien Senior Secured Debt SF + 9.75% (incl 5.25% PIK) $57,392 57,392 56,618 0.28%
HT Intermediary III, Inc. (InVita Healthcare Technologies) Software and Computer Services 1st Lien Senior Secured Debt SF + 4.75% $56,465 42,318 42,322 0.21%
Vermont Aus Pty Ltd (Greencross Vets) Personal Care, Drug and Grocery Stores 1st Lien Senior Secured Debt B + 5.75% AUD 55,577 39,775 35,803 0.18%
Spirit RR Holdings, Inc. (Reorg Research) Industrial Support Services 1st Lien Senior Secured Debt SF + 4.50% $55,079 50,848 51,464 0.26%
Boreal Bidco (Esker SA) Software and Computer Services 1st Lien Senior Secured Debt E + 7.25% (incl 5.75% PIK) € 53,323 51,398 54,259 0.27%
Trupanion, Inc. (Trupanion) Non-life Insurance 1st Lien Senior Secured Debt SF + 5.00% $52,636 45,768 46,060 0.23%
CC WDW Borrower, Inc. (Advantek, LLC) Technology Hardware and Equipment 1st Lien Senior Secured Debt SF + 6.75% $51,965 48,721 48,659 0.24%
Railpros Parent LLC Industrial Support Services 1st Lien Senior Secured Debt SF + 4.50% $50,925 34,325 34,325 0.17%
Earps Bidco Limited (Smith & Williamson) Investment Banking and Brokerage Services 1st Lien Senior Secured Debt SN + 5.00% £50,700 47,833 49,768 0.25%
ASDAM Operations Pty Ltd Aerospace and Defense 1st Lien Senior Secured Debt B + 5.50% AUD 50,593 32,767 31,428 0.16%
The One Group, LLC Travel and Leisure 1st Lien Senior Secured Debt SF + 6.50% $50,538 49,352 49,533 0.25%
Orthrus Limited (Ocorian) Investment Banking and Brokerage Services 1st Lien Senior Secured Debt SN + 6.25% (incl 2.75% PIK) £50,518 43,019 45,281 0.23%
Elements Finco Limited (IRIS Software) Software and Computer Services 1st Lien Senior Secured Debt SN + 5.25% (incl 2.25% PIK) £50,316 62,322 68,433 0.34%
MAI Capital Management Intermediate LLC (MAI Capital Management) Investment Banking and Brokerage Services 1st Lien Senior Secured Debt SF + 4.75% $50,000 33,597 33,590 0.17%
Elements Finco Limited (IRIS Software) Software and Computer Services 1st Lien Senior Secured Debt SN + 5.50% (incl 2.50% PIK) £48,728 60,711 66,273 0.33%

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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.

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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