November 14, 2024 - 10-Q: Quarterly report pursuant to Section 13 or 15(d)

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_____________________________________________________

FORM 10-Q

_____________________________________________________

(Mark One)


x			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2024


o			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________ to __________

Commission File Number 814-01431

________________________________________________________________________________________________

HPS Corporate Lending Fund

(Exact name of Registrant as specified in its Charter)

________________________________________________________________________________________________


Delaware						87-6391045
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)

40 West 57th Street, 33rd Floor New York, NY						10019
(Address of principal executive offices)						(Zip Code)

Registrant’s telephone number, including area code: (212) 287-6767

________________________________________________________________________________________________

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

None

Indicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definition of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act:


Large accelerated filer	o	Accelerated filer	o
Non-accelerated filer	x	Smaller reporting company	o
Emerging growth company	o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒

The Registrant’s Common Shares, $0.01 par value per share, outstanding as of November 8, 2024 was 13,702,052, 94,541,313, 41,830,138 and 168,210,454 of Class S, Class I, Class D, and Class F common shares, respectively. Common shares outstanding exclude November 1, 2024 subscriptions since the issuance price is not yet finalized at the date of this filing.

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		Page

PART I	FINANCIAL INFORMATION
Item 1.	Consolidated Financial Statements
	Consolidated Statements of Assets and Liabilities as of September 30, 2024 (Unaudited) and December 31, 2023	2
	Consolidated Statements of Operations for the three and nine months ended September 30, 2024 (Unaudited) and September 30, 2023 (Unaudited)	4
	Consolidated Statements of Changes in Net Assets for the three and nine months ended Sept e mber 30, 2024 (Unaudited) and September 30, 2023 (Unaudited)	5
	Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 (Unaudited) and September 30, 2023 (Unaudited)	6
	Consolidated Schedules of Investments as of September 30, 2024 (Unaudited) and December 31, 2023	8
	Notes to Consolidated Financial Statements (Unaudited)	44
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	91
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	115
Item 4.	Controls and Procedures	116

PART II	OTHER INFORMATION
Item 1.	Legal Proceedings	117
Item 1A.	Risk Factors	117
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	117
Item 3.	Defaults Upon Senior Securities	117
Item 4.	Mine Safety Disclosures	117
Item 5.	Other Information	118
Item 6.	Exhibits	118
Signatures

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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This report contains forward-looking statements that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about HPS Corporate Lending Fund (together, with its consolidated subsidiaries, the “Company”, “we” or “our”), our current and prospective portfolio investments, our industry, our beliefs and opinions, and our assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including without limitation:

•our future operating results;

•our business prospects and the prospects of our portfolio companies, including our and their ability to achieve our respective objectives as a result of inflation, increases in borrowing costs and a potential global recession;

•the impact of geo-political conditions, including revolution, insurgency, terrorism or war, including those arising out of the ongoing conflict between Russia and Ukraine and the broader Middle East conflict;

•the impact of the investments that we expect to make;

•our ability to raise sufficient capital to execute our investment strategy;

•our current and expected financing arrangements and investments;

•the adequacy of our cash resources, financing sources and working capital;

•changes in the general interest rate environment, including a sustained elevated interest rate environment, and uncertainty about the Federal Reserve’s intentions regarding interest rates in the upcoming year;

•the timing and amount of cash flows, distributions and dividends, if any, from our portfolio companies;

•our contractual arrangements and relationships with third parties;

•actual and potential conflicts of interest with HPS Advisors, LLC (the “Adviser”) or any of its affiliates;

•the elevated levels of inflation, and its impact on our portfolio companies and on the industries in which we invest;

•the dependence of our future success on the general economy and its effect on the industries in which we may invest;

•the availability of credit and/or our ability to access the capital markets;

•our use of financial leverage;

•the ability of the Adviser to source suitable investments for us and to monitor and administer our investments;

•the ability of the Adviser or its affiliates to attract and retain highly talented professionals;

•our ability to qualify for and maintain our qualification as a regulated investment company and as a business development company (“BDC”);

•the impact on our business of new or amended legislation or regulations;

•currency fluctuations, particularly to the extent that we receive payments denominated in currency other than U.S. dollars;

•the effect of changes to tax legislation and our tax position; and

•the tax status of the enterprises in which we may invest.

Although we believe that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate, and as a result, the forward-looking statements based on those assumptions also could be inaccurate. In light of these and other uncertainties, the inclusion of any projection or forward-looking statement in this report should not be regarded as a representation by us that our plans and objectives will be achieved. Moreover, we assume no duty and do not undertake to update the forward-looking statements, except as required by applicable law. Because we are an investment company, the forward-looking statements and projections contained in this report are excluded from the safe harbor protection provided by Section 21E of the U.S. Securities Exchange Act of 1934 Act, as amended (the “Exchange Act”).

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PART I - FINANCIAL INFORMATION

Item 1. Consolidated Financial Statements.

HPS Corporate Lending Fund

Consolidated Statements of Assets and Liabilities

(in thousands, except share and per share amounts)


	September 30, 2024		December 31, 2023
ASSETS	(Unaudited)
Investments at fair value
Non-controlled/non-affiliated investments (amortized cost of $12,464,265 and $9,058,649 at September 30, 2024 and December 31, 2023, respectively)	$	12,662,151	$	9,145,583
Non-controlled/affiliated investments (amortized cost of $19,467 and $19,639 at September 30, 2024 and December 31, 2023, respectively)	20,057		19,824
Controlled/affiliated investments (amortized cost of $265,279 and $125,513 at September 30, 2024 and December 31, 2023, respectively)	284,454		124,003
Total investments at fair value (amortized cost of $12,749,011 and $9,203,801 at September 30, 2024 and December 31, 2023, respectively)	12,966,662		9,289,410
Cash and cash equivalents	228,003		188,775
Interest receivable from non-controlled/non-affiliated investments	136,371		91,134
Dividend receivable from non-controlled/non-affiliated investments	47		83
Deferred financing costs	33,657		30,825
Deferred offering costs	1,315		891
Derivative assets, at fair value (Note 6)	37,863		8,353
Receivable for investments	369,023		105,138
Other assets	462		811
Total assets	$	13,773,403	$	9,715,420
LIABILITIES
Debt (net of unamortized debt issuance costs of $54,655 and $11,833 at September 30, 2024 and December 31, 2023, respectively)	$	5,516,651	$	4,206,900
Payable for investments purchased	30,498		71,339
Interest payable	75,704		58,786
Derivative liabilities, at fair value (Note 6)	41,614		9,104
Due to affiliates	11,749		12,833
Distribution payable (Note 9)	64,675		74,907
Payable for share repurchases (Note 9)	45,160		63,474
Management fees payable (Note 3)	8,130		5,591
Income based incentive fees payable (Note 3)	29,257		20,347
Capital gains incentive fees payable (Note 3)	13,473		3,518
Distribution and/or shareholder servicing fees payable	2,172		1,524
Accrued expenses and other liabilities	46,920		1,733
Total liabilities	5,886,003		4,530,056
Commitments and contingencies (Note 8)
NET ASSETS
Common Shares, $0.01 par value (308,544,258 and 206,889,570 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively)	3,085		2,069
Additional paid in capital	7,688,998		5,113,205
Distributable earnings (loss)	195,317		70,090
Total net assets	7,887,400		5,185,364
Total liabilities and net assets	$	13,773,403	$	9,715,420

The accompanying notes are an integral part of these consolidated financial statements.

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HPS Corporate Lending Fund

Consolidated Statements of Assets and Liabilities

(in thousands, except share and per share amounts)


	September 30, 2024		December 31, 2023
NET ASSET VALUE PER SHARE	(Unaudited)
Class I Shares:
Net assets	$	2,306,380	$	1,314,775
Common Shares outstanding ($0.01 par value, unlimited shares authorized)	90,221,882		52,457,511
Net asset value per share	$	25.56	$	25.06
Class D Shares:
Net assets	$	1,070,491	$	706,613
Common Shares outstanding ($0.01 par value, unlimited shares authorized)	41,876,118		28,192,719
Net asset value per share	$	25.56	$	25.06
Class F Shares:
Net assets	$	4,190,766	$	3,142,475
Common Shares outstanding ($0.01 par value, unlimited shares authorized)	163,937,746		125,381,461
Net asset value per share	$	25.56	$	25.06
Class S Shares:
Net assets	$	319,763	$	21,501
Common Shares outstanding ($0.01 par value, unlimited shares authorized)	12,508,512		857,879
Net asset value per share	$	25.56	$	25.06

The accompanying notes are an integral part of these consolidated financial statements.

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HPS Corporate Lending Fund

Consolidated Statements of Operations

(in thousands)

(Unaudited)


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Investment income:
From non-controlled/non-affiliated investments:
Interest income	$	345,624	$	222,420	$	940,968	$	602,418
Payment-in-kind interest income	17,916		10,393		52,856		23,284
Dividend Income	1,131		100		2,899		147
Other income	966		962		5,230		2,607
From controlled/affiliated investments:
Dividend income	7,616		—		16,061		—
Total investment income	373,253		233,875		1,018,014		628,456
Expenses:
Interest expense	106,274		66,665		281,035		178,228
Management fees	24,001		13,653		63,547		36,911
Income based incentive fee	29,258		18,660		81,848		50,119
Capital gains incentive fee	427		2,217		9,955		2,217
Distribution and/or shareholder servicing fees
Class D	642		371		1,699		959
Class F	5,144		3,385		14,177		9,275
Class S	604		—		1,200		—
Professional fees	1,083		565		2,682		2,769
Board of Trustees’ fees	149		165		449		451
Administrative service expenses (Note 3)	931		486		2,600		1,640
Other general & administrative	2,506		1,732		7,299		5,427
Amortization of continuous offering costs	608		461		1,424		1,215
Total expenses	171,627		108,360		467,915		289,211
Net investment income before excise tax	201,626		125,515		550,099		339,245
Excise tax expense	3,643		870		4,197		865
Net investment income after excise tax	197,983		124,645		545,902		338,380
Net realized and change in unrealized gain (loss):
Realized gain (loss):
Non-controlled/non-affiliated investments	(4,548)		(6,383)		(16,022)		(16,749)

Foreign currency forward contracts	(763)		5,924		(3,417)		(1,757)
Foreign currency transactions	791		(6,721)		9,912		(6,863)
Net realized gain (loss)	(4,520)		(7,180)		(9,527)		(25,369)
Net change in unrealized appreciation (depreciation):
Non-controlled/non-affiliated investments	72,233		47,292		110,952		163,282
Non-controlled/affiliated investments	31		(225)		405		(225)
Controlled/affiliated investments	7,763		—		20,685		—
Foreign currency forward contracts	(49,758)		4,931		(32,510)		5,835
Translation of assets and liabilities in foreign currencies	(22,335)		32,986		(10,363)		25,493
Net change in unrealized appreciation (depreciation)	7,934		84,984		89,169		194,385
Net realized and change in unrealized gain (loss)	3,414		77,804		79,642		169,016
Net increase (decrease) in net assets resulting from operations	$	201,397	$	202,449	$	625,544	$	507,396

The accompanying notes are an integral part of these consolidated financial statements.

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HPS Corporate Lending Fund

Consolidated Statements of Changes in Net Assets

(in thousands)

(Unaudited)


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Increase (decrease) in net assets from operations:
Net investment income after excise tax	$	197,983	$	124,645	$	545,902	$	338,380
Net realized gain (loss)	(4,520)		(7,180)		(9,527)		(25,369)
Net change in unrealized appreciation (depreciation)	7,934		84,984		89,169		194,385
Net increase (decrease) in net assets resulting from operations	201,397		202,449		625,544		507,396
Distributions to common shareholders:
Class I	(56,652)		(33,705)		(145,219)		(77,780)
Class D	(25,224)		(18,186)		(67,493)		(40,779)
Class F	(98,312)		(81,532)		(274,483)		(191,684)
Class S	(6,547)		—		(13,122)		—
Net decrease in net assets resulting from distributions	(186,735)		(133,423)		(500,317)		(310,243)
Share transactions:
Class I:
Proceeds from shares sold	246,413		141,658		981,460		202,300
Share transfers between classes	2,513		—		4,961		16,465
Distributions reinvested	15,805		10,905		42,614		27,495
Repurchased shares, net of early repurchase deduction	(15,533)		(6,765)		(71,512)		(20,101)
Net increase (decrease) from share transactions	249,198		145,798		957,523		226,159
Class D:
Proceeds from shares sold	134,820		128,993		313,142		208,888
Share transfers between classes	(1,846)		—		14,630		5,462
Distributions reinvested	11,658		7,878		32,923		17,308
Repurchased shares, net of early repurchase deduction	(3,022)		—		(13,560)		(25,077)
Net increase (decrease) from share transactions	141,610		136,871		347,135		206,581
Class F:
Proceeds from shares sold	288,584		290,922		946,493		549,772
Share transfers between classes	(512)		—		(20,867)		(21,927)
Distributions reinvested	42,721		33,172		126,842		81,751
Repurchased shares, net of early repurchase deduction	(26,756)		(28,065)		(75,874)		(114,021)
Net increase (decrease) from share transactions	304,037		296,029		976,594		495,575
Class S:
Proceeds from shares sold	87,965		—		289,012		—
Share transfers between classes	(155)		—		1,276		—
Distributions reinvested	2,828		—		5,269		—
Repurchased shares, net of early repurchase deduction	(5)		—		—		—
Net increase (decrease) from share transactions	90,633		—		295,557		—
Total increase (decrease) in net assets	800,140		647,724		2,702,036		1,125,468
Net assets, beginning of period	7,087,260		3,933,016		5,185,364		3,455,272
Net assets, end of period	$	7,887,400	$	4,580,740	$	7,887,400	$	4,580,740

The accompanying notes are an integral part of these consolidated financial statements.

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HPS Corporate Lending Fund

Consolidated Statements of Cash Flows

(in thousands)

(Unaudited)


	Nine Months Ended September 30,
	2024		2023
Cash flows from operating activities:
Net increase (decrease) in net assets resulting from operations	$	625,544	$	507,396
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:
Net change in unrealized (appreciation) depreciation on investments	(132,042)		(163,057)
Net realized (gain) loss on investments	16,022		16,749
Net change in unrealized (appreciation) depreciation on foreign currency forward contracts	32,510		(5,835)
Net change in unrealized (appreciation) depreciation on translation of assets and liabilities in foreign currencies	9,696		(25,907)
Net accretion of discount and amortization of premium, net	(65,436)		(28,646)
Amortization of deferred financing costs	6,057		4,458
Amortization of original issue discount and debt issuance costs	6,469		1,362
Amortization of offering costs	1,424		1,215
Payment-in-kind interest capitalized	(50,350)		(21,038)
Payment-in-kind dividends capitalized	(2,789)		—
Non-cash other income capitalized	—		(533)
Purchases of investments	(5,238,438)		(2,326,252)
Proceeds from sale of investments and principal repayments	1,795,781		545,433
Changes in operating assets and liabilities:
Interest receivable from non-controlled/non-affiliated investments	(45,237)		(22,651)
Dividend receivable from non-controlled/non-affiliated investments	36		(87)
Receivable for investments	(263,885)		(75,781)
Other assets	349		(16,641)
Payable for investments purchased	(40,841)		5,985
Interest payable	16,918		23,487
Due to affiliates	(1,084)		6,439
Management fees payable	2,539		4,698
Income based incentive fees payable	8,910		18,660
Capital gains incentive fees payable	9,955		2,217
Distribution and/or shareholder servicing fees payable	648		259
Accrued expenses and other liabilities	45,187		92
Net cash provided by (used in) operating activities	(3,262,057)		(1,547,978)
Cash flows from financing activities:
Borrowings on debt	5,240,200		4,259,688
Repayments of debt	(3,926,833)		(3,198,709)
Deferred financing costs paid	(8,889)		(14,412)
Debt issuance costs paid	(49,291)		(7,066)
Deferred offering costs paid	(1,848)		(2,062)
Proceeds from issuance of Common Shares	2,530,107		960,960
Common Shares repurchased, net of early repurchase deduction	(179,260)		(134,183)
Distributions paid in cash	(302,901)		(184,591)
Net cash provided by (used in) financing activities	3,301,285		1,679,625
Net increase (decrease) in cash and cash equivalents	39,228		131,647
Cash and cash equivalents, beginning of period	188,775		74,241
Cash and cash equivalents, end of period	$	228,003	$	205,888

The accompanying notes are an integral part of these consolidated financial statements.

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HPS Corporate Lending Fund

Consolidated Statements of Cash Flows

(in thousands)

(Unaudited)


	Nine Months Ended September 30,
	2024		2023
Supplemental information and non-cash activities:
Interest paid during the period	$	251,591	$	148,921
Taxes paid during the period	$	1,522	$	819
Distribution payable	$	64,675	$	38,188
Share repurchases accrued but not paid	$	45,160	$	34,830
Reinvestment of distributions during the period	$	207,648	$	126,554
Non-cash purchases of investments	$	3,045	$	37,396
Non-cash sales of investments	$	(3,045)	$	(37,396)

The accompanying notes are an integral part of these consolidated financial statements.

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HPS Corporate Lending Fund

Consolidated Schedule of Investments

September 30, 2024

(in thousands)

(Unaudited)


Company (1)	Reference Rate and Spread (2)		Interest Rate (2)		Maturity Date	Par Amount/Units		Amortized Cost (3)		Fair Value		Percentage of Net Assets
Non-Controlled/Non-Affiliated Investments
First Lien Debt
Aerospace and Defense
Arcfield Acquisition Corp (4)(6)(9)					8/4/2028	$	5,687	$	(74)	$	—
Arcfield Acquisition Corp (4)(9)	SF +	6.25%	11.56	%	8/3/2029	48,514		47,805		48,933
Asdam Operations Pty Ltd (4)(5)(8)	B +	5.50%	9.85	%	8/22/2028	A$	3,614	2,425		2,499
Asdam Operations Pty Ltd (4)(5)(6)(8)					8/22/2028	A$	5,421	(78)		—
Asdam Operations Pty Ltd (4)(5)(8)	B +	5.50%	9.85	%	8/22/2028	A$	41,558	27,984		28,733
Cadence - Southwick, Inc. (4)(6)(10)	SF +	5.00%	10.21	%	5/3/2028	17,561		7,309		7,610
Cadence - Southwick, Inc. (4)(10)	SF +	5.00%	10.33	%	5/3/2029	41,113		40,160		41,524
Cadence - Southwick, Inc. (4)(10)	SF +	5.00%	9.91	%	5/3/2029	3,089		3,036		3,120
Fastener Distribution Holdings, LLC (4)(10)	SF +	6.50%	11.25	%	10/1/2025	30,577		30,381		30,553
Frontgrade Technologies Holdings Inc. (4)(6)(9)					1/10/2028	6,864		(124)		—
Frontgrade Technologies Holdings Inc. (4)(9)	SF +	5.00%	10.10	%	1/9/2030	37,146		36,296		37,146
Frontgrade Technologies Holdings Inc. (4)(9)	SF +	5.00%	10.10	%	1/9/2030	7,820		7,692		7,820
WP CPP Holdings, LLC (4)(6)(10)					11/30/2029	26,285		(566)		—
WP CPP Holdings, LLC (4)(10)	SF +	7.50% (incl 4.13% PIK)	12.52	%	11/30/2029	200,918		196,905		201,404
								399,151		409,342		5.19	%
Alternative Energy
Braya Renewable Fuels (Newfoundland) LP (4)(5)(15)	SF +	7.00%	11.70	%	11/9/2026	13,257		13,071		13,055
Braya Renewable Fuels (Newfoundland) LP (4)(5)(15)	SF +	7.00%	11.70	%	11/9/2026	1,014		998		999
Braya Renewable Fuels (Newfoundland) LP (4)(5)(15)	SF +	7.00%	11.70	%	11/9/2026	11,045		10,860		10,876
Braya Renewable Fuels (Newfoundland) LP (4)(5)(15)	SF +	7.00%	11.70	%	11/9/2026	1,004		990		989
								25,919		25,919		0.33	%
Asset Based Lending and Fund Finance
CRSS HPS LLC (4)(5)(10)	SF +	6.75%	11.95	%	12/21/2026	14,193		13,983		14,122
								13,983		14,122		0.18	%
Automobiles and Parts
Clarios Global LP (7)	SF +	2.50%	7.35	%	5/6/2030	10,723		10,675		10,741
Foundation Automotive US Corp (4)(10)	SF +	7.75% PIK	13.30	%	12/24/2027	4,598		4,557		3,636
Foundation Automotive Corp (4)(5)(10)	SF +	7.75% PIK	12.62	%	12/24/2027	15,156		15,032		11,985
Foundation Automotive US Corp (4)(10)	SF +	7.75% PIK	12.62	%	12/24/2027	25,801		25,594		20,404
Foundation Automotive US Corp (4)(6)(14)	SF +	7.75%	12.87	%	12/24/2027	2,701		1,080		1,080
Oil Changer Holding Corporation (4)(10)	SF +	6.75%	12.16	%	2/8/2027	40,285		40,082		40,285
Oil Changer Holding Corporation (4)(10)	SF +	6.75%	11.95	%	2/8/2027	8,458		8,416		8,458
								105,436		96,589		1.34	%
Chemicals
Lummus Technology Holdings V LLC (7)	SF +	3.50%	8.46	%	12/31/2029	15,036		14,849		15,097
								14,849		15,097		0.19	%
Construction and Materials
Enstall Group B.V. (4)(5)(6)(8)					8/30/2028	€	17,183	(333)		(1,113)
Enstall Group B.V. (4)(5)(8)	E +	6.25%	9.90	%	8/30/2028	€	51,033	54,965		53,513
Fire Flow Intermediate Corporation (4)(9)	SF +	5.00%	9.85	%	7/10/2031	123,991		122,777		122,791
Hobbs & Associates LLC (6)(7)					7/23/2031	909		—		—
Hobbs & Associates LLC (7)	SF +	3.25%	8.10	%	7/23/2031	9,091		9,069		9,091
Nexus Intermediate III, LLC (4)(9)	SF +	5.50%	10.71	%	12/6/2027	1,055		1,069		1,051
NRO Holdings III Corp. (4)(6)(9)					7/15/2031	214		(4)		(4)
NRO Holdings III Corp. (4)(6)(9)					7/15/2030	100		(2)		(2)
NRO Holdings III Corp. (4)(9)	SF +	5.25%	10.55	%	7/15/2031	686		672		672
								188,213		185,999		2.24	%
Consumer Services
Aesthetics Australia Group Pty Ltd (4)(5)(8)	B +	6.25%	10.76	%	3/21/2028	A$	57,095	36,164		37,678

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

September 30, 2024

(in thousands)

(Unaudited)


Company (1)	Reference Rate and Spread (2)		Interest Rate (2)		Maturity Date	Par Amount/Units		Amortized Cost (3)	Fair Value	Percentage of Net Assets
AI Learning (Singapore) PTE. LTD. (4)(5)(12)	SORA +	8.25% (incl 4.00% PIK)	12.14	%	5/25/2027	45,400	S$	32,896	35,182
American Academy Holdings, LLC (4)(17)	SF +	9.75% (incl 5.25% PIK)	14.62	%	6/30/2027	56,098		56,098	55,159
Auctane Inc (4)(9)	SF +	5.75%	10.94	%	10/5/2028	24,375		24,375	24,375
Club Car Wash Operating, LLC (4)(10)	SF +	5.50%	10.25	%	6/16/2027	39,238		38,672	38,868
Club Car Wash Operating, LLC (4)(10)	SF +	5.50%	10.25	%	6/16/2027	12,441		12,293	12,323
Club Car Wash Operating, LLC (4)(10)	SF +	5.50%	10.25	%	6/16/2027	25,457		25,255	25,217
Club Car Wash Operating, LLC (4)(6)(10)	SF +	5.50%	10.25	%	6/16/2027	77,141		12,771	12,773
Corp Service Co (8)	SF +	2.50%	7.35	%	11/2/2029	1,667		1,630	1,672
Express Wash Concepts, LLC (4)(10)	SF +	6.00%	10.95	%	4/30/2027	46,870		46,625	47,308
Express Wash Concepts, LLC (4)(10)	SF +	6.00%	10.95	%	4/30/2027	26,325		26,184	26,571
Grant Thornton LLP (7)	SF +	3.25%	8.10	%	6/2/2031	3,750		3,750	3,760
Houghton Mifflin Harcourt Company (8)	SF +	5.25%	10.20	%	4/9/2029	25,059		24,548	24,439
IXM Holdings, Inc. (4)(11)	SF +	6.50%	11.70	%	12/14/2029	18,473		18,231	18,658
IXM Holdings, Inc. (4)(6)(11)					12/14/2029	1,638		(23)	16
IXM Holdings, Inc. (4)(6)(11)	SF +	6.50%	11.60	%	12/14/2029	2,184		812	841
KUEHG Corp. (8)	SF +	4.50%	9.10	%	6/12/2030	3,817		3,809	3,833
Learning Care Group, Inc. (8)	SF +	4.00%	9.26	%	8/11/2028	1,980		1,957	1,993
Mckissock Investment Holdings, LLC (9)	SF +	5.00%	9.96	%	3/12/2029	46,449		45,473	46,590
Mckissock Investment Holdings, LLC (9)	SF +	5.00%	10.44	%	3/12/2029	12,422		12,339	12,459
Polyconcept North America Holdings, Inc. (9)	SF +	5.50%	10.10	%	5/18/2029	22,834		22,517	22,335
Spotless Brands, LLC (4)(10)	SF +	5.75%	10.81	%	7/25/2028	21,375		21,099	21,375
Spotless Brands, LLC (4)(10)	SF +	5.75%	10.81	%	7/25/2028	15,861		15,658	15,861
Spotless Brands, LLC (4)(10)	SF +	5.75%	10.81	%	7/25/2028	104,530		103,159	104,530
Spotless Brands, LLC (4)(6)(10)	SF +	5.75%	10.60	%	7/25/2028	5,175		3,040	3,105
Spotless Brands, LLC (4)(6)(10)	SF +	5.50%	10.56	%	7/25/2028	31,073		1,350	1,353
Thrasio LLC (4)(10)	SF +	10.00% PIK	15.54	%	6/18/2029	348		346	348
Thrasio LLC (4)(7)(18)	SF +	10.00% PIK			6/18/2029	1,055		1,029	833
TruGreen Limited Partnership (9)	SF +	4.00%	8.85	%	11/2/2027	8,509		8,439	8,249
Zips Car Wash, LLC (4)(10)	SF +	7.25% (incl 3.50% PIK)	12.46	%	12/31/2024	26,034		26,034	24,468
Zips Car Wash, LLC (4)(10)	SF +	7.25% (incl 3.50% PIK)	12.66	%	12/31/2024	15,338		15,337	14,416
Zips Car Wash, LLC (4)(10)	SF +	7.25% (incl 3.50% PIK)	12.46	%	12/31/2024	985		985	925
								642,852	647,513	8.21	%
Electricity
Hamilton Projects Acquiror, LLC (8)	SF +	3.75%	8.60	%	5/31/2031	17,106		17,065	17,251
IP Operating Portfolio I, LLC (4)(7)			7.88	%	12/31/2029	27,206		26,758	27,206
IP Operations II Investco, LLC (4)(6)(15)	SF +	5.50%	10.35	%	6/26/2029	26,547		17,196	17,343
IP Operations II Investco, LLC (4)(6)(15)	SF +	5.50%	10.35	%	12/31/2025	38,338		14,380	14,531
Sunzia UpperCo LLC (4)(16)	SF +	5.00%	9.94	%	6/27/2025	25,000		24,848	24,973
								100,247	101,304	1.28	%
Finance and Credit Services
PCP CW Aggregator Holdings II, L.P. (4)(5)(10)	SF +	9.25% PIK	14.51	%	2/9/2027	21,649		21,474	21,693
Yes Energy LLC (4)(10)	SF +	5.00%	9.85	%	4/21/2028	9,950		9,815	10,050
Yes Energy LLC (4)(10)	SF +	5.00%	9.85	%	4/21/2028	4,849		4,724	4,946
Yes Energy LLC (4)(6)(10)	SF +	5.00%	9.85	%	4/21/2028	4,211		205	382
Yes Energy LLC (4)(10)	SF +	5.00%	9.85	%	4/21/2028	25,870		25,424	26,129
								61,642	63,200	0.80	%
Food Producers
Specialty Ingredients, LLC (4)(6)(9)	SF +	6.00%	10.95	%	2/12/2029	11,279		6,616	6,767
Specialty Ingredients, LLC (4)(9)	SF +	6.00%	10.95	%	2/12/2029	89,121		87,895	89,121

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

September 30, 2024

(in thousands)

(Unaudited)


Company (1)	Reference Rate and Spread (2)		Interest Rate (2)		Maturity Date	Par Amount/Units		Amortized Cost (3)	Fair Value	Percentage of Net Assets
Sugar PPC Buyer LLC (4)(6)(10)					10/2/2030	14,474		(142)	(21)
Sugar PPC Buyer LLC (4)(10)	SF +	5.25%	10.36	%	10/2/2030	16,458		16,130	16,434
Sugar PPC Buyer LLC (4)(10)	SF +	5.25%	10.37	%	10/2/2030	59,249		58,105	59,164
								168,604	171,465	2.17	%
Gas, Water and Multi-utilities
Floating Infrastructure Holdings Finance LLC (4)(5)(10)	SF +	5.75%	10.45	%	8/13/2027	41,682		41,215	41,682
Eagle LNG Partners Jacksonville II LLC (4)(7)			13.50% (incl 6.35% PIK)		4/26/2029	778		757	769
								41,972	42,451	0.54	%
General Industrials
BP Purchaser, LLC (4)(9)	SF +	5.50%	10.69	%	12/11/2028	27,303		26,962	25,518
Bright Light Buyer, Inc. (4)(10)	SF +	6.00%	11.11	%	11/8/2029	74,438		72,854	74,438
Capripack Debtco PLC (4)(5)(10)	E +	6.75% (incl 2.50% PIK)	10.46	%	1/3/2030	€	13,312	14,098	14,862
Capripack Debtco PLC (4)(5)(10)	E +	6.75% (incl 2.50% PIK)	10.46	%	1/3/2030	€	71,660	75,887	80,003
Capripack Debtco PLC (4)(5)(6)(10)					1/3/2030	€	29,873	(1,138)	90
Capripack Debtco PLC (4)(5)(6)(10)					1/3/2030	€	26,139	(996)	79
Cube Industrials Buyer, Inc. (4)(6)(10)					10/18/2029	5,664		(71)	—
Cube Industrials Buyer, Inc. (4)(10)	SF +	6.00%	11.25	%	10/18/2030	36,146		35,677	36,507
Formerra, LLC (4)(10)	SF +	7.25%	12.39	%	11/1/2028	4,219		4,122	4,168
Formerra, LLC (4)(6)(10)	SF +	7.25%	12.20	%	11/1/2028	12,031		2,140	2,258
Formerra, LLC (4)(10)	SF +	7.25%	12.55	%	11/1/2028	104,886		102,513	103,596
Marcone Group Inc (4)(13)	SF +	6.25%	11.53	%	6/23/2028	11,861		11,786	11,201
Marcone Group Inc (4)(13)	SF +	6.25%	11.73	%	6/23/2028	49,482		49,002	46,726
Marcone Group Inc (4)(13)	SF +	6.25%	11.73	%	6/23/2028	4,362		4,334	4,119
Marcone Group Inc (4)(13)	SF +	6.25%	11.73	%	6/23/2028	13,126		13,043	12,395
TMC Buyer Inc (8)	SF +	6.00%	10.25	%	6/30/2028	69,622		63,545	69,622
								473,758	485,582	6.16	%
Health Care Providers
123Dentist Inc (4)(5)(6)(9)					8/10/2029	C$	23,881	(171)	(20)
123Dentist Inc (4)(5)(9)	C +	5.00%	9.24	%	8/10/2029	C$	55,322	42,302	40,853
123Dentist Inc (4)(5)(6)(9)					8/10/2029	C$	1,594	(27)	(1)
AB Centers Acquisition Corporation (4)(9)	SF +	5.25%	10.57	%	7/2/2031	158,606		156,311	156,312
AB Centers Acquisition Corporation (4)(6)(9)					7/2/2031	28,837		(425)	(417)
AB Centers Acquisition Corporation (4)(6)(9)					7/2/2031	16,655		(241)	(241)
Aspen Dental Management Inc. (ADMI Corp) (8)	SF +	3.75%	8.71	%	12/23/2027	3,310		3,249	3,247
Aspen Dental Management Inc. (ADMI Corp) (7)	SF +	5.75%	10.60	%	12/23/2027	856		863	858
Accelerated Health Systems LLC (8)	SF +	4.25%	9.00	%	2/15/2029	7,891		7,877	6,110
ATI Holdings Acquisition, Inc. (4)(5)(10)	SF +	7.25%	11.50	%	2/24/2028	41,092		40,620	40,721
Baart Programs, Inc. (4)(10)	SF +	5.00%	9.87	%	6/11/2027	10,045		9,992	9,535
Charlotte Buyer Inc (8)	SF +	4.75%	9.85	%	2/11/2028	23,814		22,839	24,026
ERC Topco Holdings, LLC (4)(6)(7)(18)	SF +	6.25% (incl 3.25% PIK)			11/10/2027	1,000		721	355
ERC Topco Holdings, LLC (4)(7)(18)	SF +	6.25% (incl 3.25% PIK)			11/10/2028	25,291		23,852	14,381
ERC Topco Holdings, LLC (4)(7)(18)	SF +	6.25% PIK			11/10/2028	417		417	237
ERC Topco Holdings, LLC (4)(7)(18)	SF +	6.25% PIK			11/10/2028	11		11	7
MB2 Dental Solutions, LLC (4)(6)(9)	SF +	6.00%	10.85	%	2/13/2031	54,046		7,615	7,804
MB2 Dental Solutions, LLC (4)(6)(9)					2/13/2031	32,427		(944)	(506)
MB2 Dental Solutions, LLC (4)(6)(9)					2/13/2031	13,909		(253)	(217)
MB2 Dental Solutions, LLC (4)(9)	SF +	6.00%	10.85	%	2/13/2031	155,304		153,026	152,881

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

September 30, 2024

(in thousands)

(Unaudited)


Company (1)	Reference Rate and Spread (2)		Interest Rate (2)		Maturity Date	Par Amount/Units		Amortized Cost (3)	Fair Value	Percentage of Net Assets
Medline Borrower LP (8)	SF +	2.75%	7.60	%	10/23/2028	15,097		14,990	15,120
MPH Acquisition Holdings LLC (8)	SF +	4.25%	9.57	%	9/1/2028	4,551		4,472	3,452
Pareto Health Intermediate Holdings, Inc. (4)(10)	SF +	6.25%	10.85	%	6/3/2030	29,940		29,212	30,239
Pareto Health Intermediate Holdings, Inc. (4)(10)	SF +	6.25%	10.85	%	6/3/2030	9,980		9,738	10,080
Pareto Health Intermediate Holdings, Inc. (4)(6)(10)					6/1/2029	4,032		(94)	—
Phoenix Newco Inc (8)	SF +	3.00%	7.85	%	11/15/2028	16,759		16,680	16,781
Pinnacle Fertility, Inc. (4)(9)	SF +	5.00%	10.51	%	3/14/2028	9,188		9,088	9,188
Pinnacle Fertility, Inc. (4)(9)	SF +	5.00%	10.51	%	3/14/2028	26,813		26,493	26,813
PPV Intermediate Holdings, LLC (4)(9)	SF +	5.75%	10.81	%	8/31/2029	107,922		106,517	107,923
PPV Intermediate Holdings, LLC (4)(6)(9)					8/31/2029	8,145		(114)	—
PTSH Intermediate Holdings, LLC (4)(9)	SF +	5.50%	10.25	%	12/17/2027	3,911		3,864	3,911
PTSH Intermediate Holdings, LLC (4)(9)	SF +	5.50%	10.25	%	12/17/2027	20,521		20,290	20,521
Tenet Healthcare Corp (5)(7)			5.13	%	11/1/2027	2,695		2,718	2,687
Tivity Health Inc (4)(9)	SF +	5.00%	9.85	%	6/28/2029	130,147		128,259	130,148
United Musculoskeletal Partners Acquisition Holdings, LLC (4)(9)	SF +	5.75%	11.00	%	7/17/2028	32,589		32,180	32,069
United Musculoskeletal Partners Acquisition Holdings, LLC (4)(9)	SF +	5.75%	11.03	%	7/17/2028	26,346		26,017	25,926
United Musculoskeletal Partners Acquisition Holdings, LLC (4)(9)	SF +	5.75%	11.04	%	7/17/2028	42,961		42,397	42,276
WCAS XIV Primary Care Investors, L.P. (4)(10)	SF +	6.25%	10.85	%	12/31/2032	56,433		55,372	55,396
WCAS XIV Primary Care Investors, L.P. (4)(10)	SF +	6.25%	10.85	%	12/31/2032	8,342		8,180	8,188
WCAS XIV Primary Care Investors, L.P. (4)(10)	SF +	6.25%	10.94	%	12/31/2032	15,932		15,614	15,639
WCAS XIII Primary Care Investors, L.P. (4)(10)	SF +	6.25%	10.85	%	12/31/2029	135,630		133,581	133,266
								1,153,088	1,145,548	14.52	%
Household Goods and Home Construction
LHS Borrower LLC (8)	SF +	4.75%	9.70	%	2/16/2029	6,894		6,850	6,602
Sunset Debt Merger Sub, Inc. (9)	SF +	4.00%	8.96	%	10/6/2028	702		620	584
								7,470	7,186	0.09	%
Industrial Engineering
LSF12 Donnelly Bidco, LLC (4)(10)	SF +	6.50%	11.35	%	10/2/2029	19,728		19,317	19,926
Radwell Parent, LLC (4)(6)(9)	SF +	5.50%	10.10	%	4/3/2028	13,271		2,437	2,641
Radwell Parent, LLC (4)(9)	SF +	5.50%	10.10	%	4/2/2029	152,658		149,378	152,466
Roper Industrial Products Investment Co (8)	SF +	3.25%	7.85	%	11/22/2029	17,184		16,722	17,235
Time Manufacturing Holdings, LLC (4)(9)	E +	6.50% (incl 2.00% PIK)	9.89	%	12/1/2027	€	4,758	4,959	4,666
Time Manufacturing Holdings, LLC (4)(6)(9)	SF +	6.50% (incl 2.00% PIK)	11.31	%	12/1/2027	1,000		426	326
Time Manufacturing Holdings, LLC (4)(9)	SF +	6.50% (incl 2.00% PIK)	11.49	%	12/1/2027	12,081		11,936	10,724
Time Manufacturing Holdings, LLC (4)(9)	E +	6.50% (incl 2.00% PIK)	9.89	%	12/1/2027	€	8,380	9,360	8,218
TK Elevator US Newco Inc (5)(8)	SF +	3.50%	8.59	%	4/30/2030	12,479		12,337	12,518
Wec US Holdings Ltd (7)	SF +	2.75%	7.60	%	1/27/2031	10,000		9,929	10,009
								236,801	238,729	3.03	%
Industrial Metals and Mining
Alchemy US Holdco 1 LLC (4)(10)	SF +	6.50%	11.75	%	7/31/2029	122,117		116,918	116,916
Alchemy US Holdco 1 LLC (4)(10)	E +	6.50%	10.14	%	7/31/2029	€	25,766	26,702	27,466
Alchemy US Holdco 1 LLC (4)(6)(10)					7/31/2029	10,271		(445)	(437)
BLY US Holdings Inc. (4)(5)(10)	SF +	6.00%	10.60	%	4/10/2029	61,134		59,735	59,840
								202,910	203,785	2.58	%
Industrial Support Services
Acuris Finance US, Inc (7)	SF +	3.75%	8.42	%	2/16/2028	8,383		8,253	8,362
AI Circle Bidco Limited (4)(5)(6)(10)					2/8/2031	€	6,374	(262)	(31)

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

September 30, 2024

(in thousands)

(Unaudited)


Company (1)	Reference Rate and Spread (2)		Interest Rate (2)		Maturity Date	Par Amount/Units			Amortized Cost (3)	Fair Value	Percentage of Net Assets
AI Circle Bidco Limited (4)(5)(10)	E +	6.75%	10.24	%	2/8/2031	€	44,620		46,329	49,465
Allied Universal Holdco LLC (8)	SF +	3.75%	8.70	%	5/12/2028	2,978			2,972	2,952
Argos Health Holdings, Inc. (4)(9)	SF +	6.25%	11.54	%	12/6/2027	648			641	612
Atlas Intermediate III, L.L.C. (4)(10)	SF +	8.50% (incl 4.00% PIK)	13.75	%	10/31/2029	115,538			113,166	115,538
Atlas Intermediate III, L.L.C. (4)(6)(10)					10/31/2029	13,445			(285)	—
Axiom Buyer, LLC (4)(6)(10)					1/14/2030	16,189			(397)	(389)
Axiom Buyer, LLC (4)(6)(10)	SF +	6.50%	11.36	%	1/14/2030	18,189			6,060	6,059
Axiom Buyer, LLC (4)(10)	SF +	6.50%	11.35	%	1/14/2030	150,330			146,722	146,721
Becklar, LLC (4)(10)	SF +	6.35%	11.29	%	12/21/2026	971			963	971
Becklar, LLC (4)(10)	SF +	6.35%	11.29	%	12/21/2026	5,637			5,578	5,637
Captive Resources Midco LLC (4)(6)(9)					7/3/2028	7,558			(94)	—
Captive Resources Midco LLC (4)(9)	SF +	5.25%	10.10	%	7/2/2029	94,355			93,124	94,355
CD&R Madison UK Bidco LTD (4)(5)(6)(7)	SN +	8.45% (incl 2.00% PIK)	13.41	%	2/28/2030	£	9,993		5,832	6,586
CD&R Madison UK Bidco LTD (4)(5)(7)	SN +	8.45% (incl 2.00% PIK)	13.42	%	2/28/2030	£	46,079		54,017	62,233
CD&R Madison UK Bidco LTD (4)(5)(7)	E +	7.95% (incl 2.00% PIK)	11.46	%	2/28/2030	€	22,720		23,370	25,549
Chartis Group LLC (4)(9)	SF +	4.50%	9.44	%	9/17/2031	81,797			80,983	80,983
Chartis Group LLC (4)(6)(9)					9/17/2031	25,040			(250)	(249)
Chartis Group LLC (4)(6)(9)					9/17/2031	14,716			(146)	(146)
Coretrust Purchasing Group LLC (4)(6)(9)					10/1/2029	10,736			(263)	—
Coretrust Purchasing Group LLC (4)(6)(9)					10/1/2029	11,656			(250)	—
Coretrust Purchasing Group LLC (4)(9)	SF +	5.25%	10.10	%	10/1/2029	80,482			78,821	80,482
Coretrust Purchasing Group LLC (4)(6)(9)					10/1/2029	4,423			(41)	—
Eagle 2021 Lower Merger Sub, LLC (4)(9)	SF +	6.25%	11.54	%	12/6/2027	810			801	765
Employbridge, LLC (9)	SF +	4.75%	10.43	%	7/19/2028	9,732			9,697	6,545
Empower Payments Investor, LLC (4)(6)(9)					3/12/2031	14,426			(277)	144
Empower Payments Investor, LLC (4)(6)(9)					3/12/2030	9,704			(176)	—
Empower Payments Investor, LLC (4)(9)	SF +	4.75%	9.60	%	3/12/2031	101,437			99,568	102,451
Galaxy US Opco Inc. (5)(8)	SF +	4.75%	10.00	%	4/29/2029	13,805			13,569	11,617
Guidehouse Inc. (4)(9)	SF +	5.75% (incl 2.00% PIK)	10.60	%	12/16/2030	188,379			186,153	190,264
IG Investments Holdings, LLC (4)(6)(9)					9/22/2027	6,836			(102)	—
IG Investments Holdings, LLC (4)(9)	SF +	6.00%	11.35	%	9/22/2028	22,107			21,891	22,107
IG Investments Holdings, LLC (4)(9)	SF +	6.00%	11.35	%	9/22/2028	1,823			1,812	1,823
IG Investments Holdings, LLC (4)(9)	SF +	6.00%	11.25	%	9/22/2028	2,185			2,165	2,185
Madison Safety & Flow LLC (7)	SF +	3.25%	8.10	%	9/26/2031	3,689			3,679	3,692
Meralm Bidco AB (4)(5)(6)(8)					8/29/2031	€	5,188		(85)	(86)
Meralm Bidco AB (4)(5)(8)	E +	5.25%	8.64	%	8/29/2031	€	32,844		35,765	36,027
Meralm Bidco AB (4)(5)(8)	SF +	5.25%	10.23	%	8/29/2031	13,695			13,492	13,492
Meralm Bidco AB (4)(5)(8)	ST +	5.25%	8.33	%	8/29/2031	413,484		kr	39,669	40,100
Meralm Bidco AB (4)(5)(8)	N +	5.25%	9.99	%	8/29/2031	263,366		kr	24,465	24,593
Meralm Bidco AB (4)(5)(8)	E +	8.50%	11.89	%	8/29/2031	€	46,695		50,847	51,220
NBG Acquisition Corp. (4)(6)(9)	SF +	5.25%	10.65	%	11/6/2028	2,876			1,873	1,754
NBG Acquisition Corp. (4)(9)	SF +	5.25%	10.72	%	11/6/2028	3,333			3,286	3,176
NBG Acquisition Corp. (4)(9)	SF +	5.25%	10.65	%	11/6/2028	21,173			21,077	20,175
NTH Degree Purchaser, Inc (4)(6)(10)					9/10/2030	30,800			(613)	(616)
NTH Degree Purchaser, Inc (4)(6)(10)					9/10/2030	16,125			(319)	(323)
NTH Degree Purchaser, Inc (4)(10)	SF +	5.25%	10.19	%	9/10/2030	101,876			99,858	99,838
PG Polaris BidCo Sarl (5)(7)	SF +	3.50%	8.10	%	3/26/2031	6,959			6,943	6,981
Planet US Buyer LLC (5)(7)	SF +	3.50%	8.60	%	2/7/2031	7,481			7,464	7,504
Royal Buyer, LLC (4)(9)	SF +	5.50%	10.24	%	8/31/2028	8,958			8,839	8,958

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

September 30, 2024

(in thousands)

(Unaudited)


Company (1)	Reference Rate and Spread (2)		Interest Rate (2)		Maturity Date	Par Amount/Units		Amortized Cost (3)	Fair Value	Percentage of Net Assets
Royal Buyer, LLC (4)(6)(9)					8/31/2028	7,000		(91)	—
Royal Buyer, LLC (4)(9)	SF +	5.50%	10.56	%	8/31/2028	44,213		43,621	44,213
Royal Buyer, LLC (4)(6)(9)	SF +	5.50%	10.24	%	8/31/2028	23,538		3,194	3,413
Royal Buyer, LLC (4)(9)	SF +	5.50%	10.24	%	8/31/2028	70,495		69,887	70,495
Sedgwick Claims Management Services, Inc. (7)	SF +	3.00%	8.25	%	7/31/2031	19,109		18,931	19,095
SimpliSafe Holding Corporation (4)(9)	SF +	6.25%	11.10	%	5/2/2028	15,028		14,829	15,028
SimpliSafe Holding Corporation (4)(9)	SF +	6.25%	11.10	%	5/2/2028	118,132		116,685	118,133
Soliant Lower Intermediate LLC (7)	SF +	3.75%	8.60	%	7/18/2031	8,249		8,169	8,270
Spirit RR Holdings, Inc. (4)(6)(9)					9/13/2028	3,579		(50)	—
Spirit RR Holdings, Inc. (4)(9)	SF +	5.00%	9.70	%	9/13/2028	42,777		42,157	42,777
Spirit RR Holdings, Inc. (4)(6)(9)	SF +	5.00%	10.41	%	9/13/2028	5,963		2,892	2,970
TruckPro, LLC (4)(12)	SF +	7.75%	13.15	%	8/16/2028	70,002		68,375	67,564
Vaco Holdings LLC (9)	SF +	5.00%	9.95	%	1/21/2029	13,137		13,095	12,927
W3 TopCo LLC (4)(10)	SF +	6.50%	11.79	%	3/22/2029	89,467		86,266	86,383
								1,804,144	1,831,344	23.22	%
Industrial Transportation
E.S.G. Movilidad, S.L.U. (4)(5)(6)(7)	E +	6.50%	10.18	%	5/31/2029	€	11,245	3,396	3,756
E.S.G. Movilidad, S.L.U. (4)(5)(7)	E +	6.50%	10.27	%	5/31/2029	€	8,096	8,513	9,014
E.S.G. Movilidad, S.L.U. (4)(5)(7)	E +	6.50%	10.27	%	5/31/2029	€	22,264	23,410	24,789
Truck-Lite Co, LLC (4)(6)(9)					2/13/2031	9,338		(170)	(156)
Truck-Lite Co, LLC (4)(6)(9)	SF +	5.75%	10.85	%	2/13/2030	11,973		(94)	120
Truck-Lite Co, LLC (4)(9)	SF +	5.75%	10.86	%	2/13/2031	85,941		84,377	84,502
								119,432	122,025	1.55	%
Investment Banking and Brokerage Services
Apex Group Treasury LLC (5)(8)	SF +	4.00%	9.08	%	7/27/2028	6,930		6,846	6,956
Ascensus Holdings, Inc. (8)	SF +	3.50%	8.46	%	8/2/2028	7,583		7,532	7,593
Baker Tilly Advisory Group, LP (4)(9)	SF +	5.00%	9.85	%	6/3/2031	103,089		101,612	102,975
Baker Tilly Advisory Group, LP (4)(6)(9)					6/3/2031	15,518		(228)	(17)
Baker Tilly Advisory Group, LP (4)(6)(9)					6/3/2030	23,539		(334)	(58)
Eisner Advisory Group LLC (8)	SF +	4.00%	8.85	%	2/28/2031	6,017		5,962	6,045
June Purchaser LLC (6)(7)					9/11/2031	1,190		(6)	(4)
June Purchaser LLC (7)	SF +	3.25%	8.10	%	9/11/2031	7,143		7,107	7,121
MAI Capital Management Intermediate LLC (4)(6)(9)					8/29/2031	16,300		(162)	(161)
MAI Capital Management Intermediate LLC (4)(6)(9)					8/29/2031	6,100		(60)	(60)
MAI Capital Management Intermediate LLC (4)(9)	SF +	4.75%	9.35	%	8/29/2031	27,600		27,328	27,327
More Cowbell II, LLC (4)(6)(9)					9/3/2030	5,484		(103)	55
More Cowbell II, LLC (4)(6)(9)	SF +	5.00%	9.74	%	9/4/2029	7,590		3,029	3,153
More Cowbell II, LLC (4)(9)	SF +	5.00%	8.89	%	9/3/2030	49,964		49,119	50,464
Osaic Holdings Inc (7)	SF +	4.00%	8.85	%	8/17/2028	11,823		11,778	11,710
Rockefeller Capital Management (4)(8)	SF +	5.00%	9.60	%	4/4/2031	70,000		69,343	70,700
Transnetwork LLC (8)	SF +	5.50%	10.10	%	12/29/2030	61,778		60,909	62,550
Travelex Issuerco 2 PLC (4)(5)(14)	SN +	8.00%	12.96	%	9/22/2028	£	22,729	26,938	30,739
Violin Finco Guernsey Limited (4)(5)(7)	SN +	5.50%	10.52	%	6/24/2031	£	93,262	117,194	125,162
Violin Finco Guernsey Limited (4)(5)(6)(7)					6/24/2031	£	6,211	(77)	30
								493,727	512,280	6.49	%
Leisure Goods
Jam City, Inc. (4)(10)	SF +	7.00%	11.87	%	9/7/2027	1,974		1,964	1,993
								1,964	1,993	0.03	%

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

September 30, 2024

(in thousands)

(Unaudited)


Company (1)	Reference Rate and Spread (2)		Interest Rate (2)		Maturity Date	Par Amount/Units		Amortized Cost (3)	Fair Value	Percentage of Net Assets
Life Insurance
OneDigital Borrower LLC (8)	SF +	3.25%	8.10	%	7/2/2031	8,848		8,805	8,789
								8,805	8,789	0.11	%
Media
2080 Media, Inc. (4)(9)	SF +	5.25%	9.85	%	3/14/2029	12,554		12,403	12,554
2080 Media, Inc. (4)(6)(9)	SF +	5.25%	10.53	%	3/14/2028	13,795		1,812	1,971
2080 Media, Inc. (4)(9)	SF +	5.25%	9.85	%	3/14/2029	54,077		53,358	54,077
2080 Media, Inc. (4)(6)(9)					3/14/2029	18,859		(189)	—
AMR GP Limited (4)(5)(7)			10.00	%	7/10/2034	1,017		987	987
Arc Media Holdings Limited (4)(5)(6)(10)	SF +	7.25%	12.35	%	10/29/2027	2,766		1,742	1,756
Arc Media Holdings Limited (4)(5)(10)	SF +	7.25%	12.65	%	10/29/2027	39,914		39,291	39,512
Aventine Intermediate LLC (4)(9)	SF +	6.00% (incl 4.00% PIK)	10.70	%	6/18/2027	1,107		1,097	1,072
Aventine Intermediate LLC (4)(9)	SF +	6.00% (incl 4.00% PIK)	10.70	%	6/18/2027	19,454		19,269	18,839
IEHL US Holdings, Inc. (4)(12)	SF +	7.00%	12.25	%	10/29/2029	6,604		6,448	6,670
International Entertainment Investments Ltd (4)(5)(12)	SN +	7.40%	12.39	%	10/29/2029	£	15,493	18,856	20,925
International Entertainment Investments Ltd (4)(5)(10)	E +	7.00%	10.64	%	10/29/2029	€	2,540	2,734	2,856
International Entertainment Investments Ltd (4)(5)(10)	E +	7.00%	10.64	%	10/29/2029	€	3,048	3,189	3,427
International Entertainment Investments Ltd (4)(5)(6)(12)					4/27/2029	5,080		(132)	51
International Entertainment Investments Ltd (4)(5)(12)	SF +	7.00%	12.25	%	10/29/2029	30,478		29,773	30,783
LOCI Bidco Limited (4)(5)(8)	SF +	5.25%	10.54	%	5/19/2031	12,087		11,801	11,959
LOCI Bidco Limited (4)(5)(8)	SN +	5.25%	10.30	%	5/19/2031	£	73,522	91,206	97,261
LOCI Bidco Limited (4)(5)(6)(8)					5/19/2031	46,320		(1,127)	(496)
McGraw-Hill Education Inc (8)	SF +	4.00%	8.60	%	8/6/2031	10,862		10,712	10,916
OneTeam Partners, LLC (4)(9)	SF +	5.50%	10.68	%	9/14/2029	73,688		72,619	73,688
Renaissance Financiere (4)(5)(7)	E +	7.00%	10.65	%	7/26/2028	€	34,871	35,606	37,613
Renaissance Holding Corp. (8)	SF +	4.25%	9.10	%	4/5/2030	7,920		7,777	7,926
								419,232	434,347	5.51	%
Medical Equipment and Services
ABB/CON-CISE Optical Group LLC (4)(9)	SF +	7.50%	12.31	%	2/23/2028	21,259		20,940	19,539
Bamboo US BidCo LLC (4)(6)(10)	SF +	6.75% (incl 3.38% PIK)	12.00	%	9/30/2030	15,485		7,049	7,499
Bamboo US BidCo LLC (4)(6)(10)					10/1/2029	21,254		(531)	(18)
Bamboo US BidCo LLC (4)(10)	E +	6.75% (incl 3.38% PIK)	10.39	%	9/30/2030	€	62,719	64,672	69,945
Bamboo US BidCo LLC (4)(10)	SF +	6.75% (incl 3.38% PIK)	12.00	%	9/30/2030	82,864		80,791	83,000
Coding Solutions Acquisition, Inc. (4)(6)(9)					8/7/2031	27,266		(406)	(345)
Coding Solutions Acquisition, Inc. (4)(6)(9)	SF +	5.00%	10.01	%	8/7/2031	16,674		3,924	3,958
Coding Solutions Acquisition, Inc. (4)(9)	SF +	5.00%	9.25	%	8/7/2031	151,066		149,206	149,157
Femur Buyer, Inc. (4)(6)(10)					9/18/2029	13,350		(301)	(616)
Femur Buyer, Inc. (4)(10)	SF +	8.25% (incl 4.50% PIK)	13.11	%	3/18/2030	140,758		137,628	137,763
Limpio Bidco GMBH (4)(5)(7)	E +	5.20%	8.83	%	10/31/2030	€	66,556	68,741	75,075
PerkinElmer U.S. LLC (4)(10)	SF +	5.00%	9.92	%	3/13/2029	111,222		108,231	112,073
PerkinElmer U.S. LLC (4)(10)	SF +	5.00%	9.92	%	3/13/2029	62,120		61,075	62,595
PerkinElmer U.S. LLC (4)(6)(10)	SF +	5.00%	9.85	%	3/13/2029	67,165		49,409	50,888
Plasma Buyer LLC (4)(6)(9)	SF +	6.25%	10.89	%	5/12/2029	3,146		1,838	1,760
Plasma Buyer LLC (4)(6)(9)	SF +	5.75%	10.35	%	5/12/2028	9,458		5,183	4,953
Plasma Buyer LLC (4)(9)	SF +	5.75%	10.35	%	5/12/2029	83,423		82,278	80,034
Resonetics, LLC (9)	SF +	3.75%	8.71	%	6/18/2031	38,637		38,544	38,733
SDC US Smilepay SPV (4)(7)(18)	P +	9.75%			10/27/2025	16,356		10,228	5,469

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

September 30, 2024

(in thousands)

(Unaudited)


Company (1)	Reference Rate and Spread (2)		Interest Rate (2)		Maturity Date	Par Amount/Units	Amortized Cost (3)	Fair Value	Percentage of Net Assets
TecoStar Holdings Inc (4)(10)	SF +	8.50% (incl 4.50% PIK)	13.80	%	7/6/2029	124,028	121,678	122,310
Vital Care Buyer, LLC (4)(9)	SF +	4.75%	9.35	%	7/30/2031	90,262	89,382	89,380
Vital Care Buyer, LLC (4)(6)(9)					7/30/2031	13,271	(129)	(130)
Zeus Company LLC (4)(6)(9)					2/28/2031	23,088	(332)	231
Zeus Company LLC (4)(6)(9)					2/28/2030	21,506	(291)	—
Zeus Company LLC (4)(9)	SF +	5.50%	10.10	%	2/28/2031	123,790	122,090	125,028
							1,220,897	1,238,281	15.70	%
Non-life Insurance
Accession Risk Management Group, Inc. (4)(6)(9)	SF +	4.75%	9.81	%	10/30/2029	7,952	7,248	7,322
Accession Risk Management Group, Inc. (4)(9)	SF +	4.75%	9.81	%	11/1/2029	39,350	39,125	39,285
Accession Risk Management Group, Inc. (4)(9)	SF +	4.75%	10.00	%	11/1/2029	14,162	14,162	14,138
Accession Risk Management Group, Inc. (4)(6)(9)					11/1/2029	21,861	(107)	(36)
Accession Risk Management Group, Inc. (4)(6)(9)					11/1/2029	2,903	(12)	(5)
Acrisure LLC (7)	SF +	3.25%	8.21	%	11/6/2030	17,858	17,858	17,718
Alera Group, Inc. (4)(9)	SF +	5.25%	10.10	%	10/2/2028	21,391	21,250	21,391
Alera Group, Inc. (4)(9)	SF +	5.25%	10.10	%	10/2/2028	12,303	12,296	12,303
Alera Group, Inc. (4)(9)	SF +	5.25%	10.10	%	10/2/2028	43,390	43,366	43,390
Alera Group, Inc. (4)(6)(9)	SF +	5.75%	10.60	%	10/2/2028	5,189	1,532	1,630
Alliant Holdings Intermediate, LLC (7)	SF +	3.00%	7.96	%	9/19/2031	18,744	18,588	18,661
AmWINS Group Inc (9)	SF +	2.25%	7.21	%	2/19/2028	7,516	7,492	7,513
Amynta Agency Borrower Inc (7)	SF +	3.75%	9.00	%	2/28/2028	20,015	19,595	20,042
BroadStreet Partners, Inc. (7)	SF +	3.25%	8.10	%	6/13/2031	9,146	9,068	9,120
Galway Borrower LLC (4)(6)(9)	SF +	4.50%	9.14	%	9/29/2028	5,017	1,289	1,310
Galway Borrower LLC (4)(6)(9)					9/29/2028	6,384	(40)	(8)
Galway Borrower LLC (4)(9)	SF +	4.50%	9.10	%	9/29/2028	134,035	133,611	133,875
Higginbotham Insurance Agency, Inc. (4)(6)(10)	SF +	4.75%	9.60	%	11/24/2028	14,327	2,361	2,495
Higginbotham Insurance Agency, Inc. (4)(14)	SF +	4.50%	9.35	%	11/24/2028	32,044	31,777	32,044
HUB International Ltd (7)			7.25	%	6/15/2030	10,517	10,517	10,971
HUB International Ltd (7)	SF +	3.00%	8.26	%	6/20/2030	13,784	13,654	13,779
Integrity Marketing Acquisition LLC (4)(6)(9)					8/27/2028	2,879	(24)	(1)
Integrity Marketing Acquisition LLC (4)(6)(9)					8/27/2028	362	(2)	—
Integrity Marketing Acquisition LLC (4)(9)	SF +	5.00%	10.08	%	8/27/2028	64,951	64,555	64,930
Jones Deslauriers Insurance Management Inc. (5)(7)			8.50	%	3/15/2030	14,487	14,469	15,519
Patriot Growth Insurance Services LLC (4)(9)	SF +	5.00%	9.75	%	10/16/2028	18,092	17,853	18,258
Patriot Growth Insurance Services LLC (4)(6)(9)	SF +	5.00%	9.95	%	10/14/2028	822	127	137
Patriot Growth Insurance Services LLC (4)(9)	SF +	5.00%	9.75	%	10/16/2028	7,132	7,045	7,197
Sig Parent Holdings, LLC (4)(6)(9)					8/21/2031	15,224	(75)	(150)
Sig Parent Holdings, LLC (4)(6)(9)					8/21/2031	3,045	(15)	(30)
Sig Parent Holdings, LLC (4)(9)	SF +	5.00%	9.83	%	8/21/2031	26,388	26,258	26,128
Summit Acquisition Inc. (4)(6)(9)					5/1/2029	6,685	(153)	—
Summit Acquisition Inc. (4)(6)(9)					5/1/2030	10,961	(293)	219
Summit Acquisition Inc. (4)(9)	SF +	6.50%	11.10	%	5/1/2030	48,413	47,257	49,381
TIH Insurance Holdings LLC (7)	SF +	3.25%	7.85	%	5/6/2031	13,333	13,302	13,335
Trupanion, Inc. (4)(5)(9)	SF +	5.00%	9.75	%	3/25/2027	25,821	25,630	25,821
Trupanion, Inc. (4)(5)(6)(9)					3/25/2027	6,576	(49)	—
Trupanion, Inc. (4)(5)(9)	SF +	5.00%	9.75	%	3/25/2027	20,475	20,314	20,475
USI Inc/NY (7)	SF +	2.75%	7.35	%	9/27/2030	5,940	5,927	5,929
							646,756	654,086	8.29	%
Oil, Gas and Coal
Camin Cargo Control Holdings, Inc. (4)(6)(10)					12/7/2029	6,923	(145)	—
Camin Cargo Control Holdings, Inc. (4)(6)(10)	SF +	6.00%	11.01	%	12/7/2029	6,923	3,327	3,462
Camin Cargo Control Holdings, Inc. (4)(10)	SF +	6.00%	10.85	%	12/7/2029	45,808	44,916	45,808

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

September 30, 2024

(in thousands)

(Unaudited)


Company (1)	Reference Rate and Spread (2)		Interest Rate (2)		Maturity Date	Par Amount/Units		Amortized Cost (3)	Fair Value	Percentage of Net Assets
								48,098	49,270	0.62	%
Personal Care, Drug and Grocery Stores
Parfums Holding Company, Inc. (4)(10)	SF +	5.25%	9.85	%	6/27/2030	119,726		118,580	120,002
Parfums Holding Company, Inc. (4)(6)(10)					6/27/2029	9,034		(86)	—
Puma Buyer LLC (4)(8)	SF +	5.50%	10.20	%	7/16/2029	60,915		57,857	60,915
Vermont Aus Pty Ltd (4)(5)(9)	B +	5.75%	10.23	%	3/23/2028	A$	22,869	15,505	15,812
Vermont Aus Pty Ltd (4)(5)(9)	B +	5.75%	10.23	%	3/23/2028	A$	34,856	25,619	24,100
								217,475	220,829	2.80	%
Personal Goods
Daphne S.P.A. (4)(5)(6)(7)					5/23/2028	€	3,978	(106)	(354)
Daphne S.P.A. (4)(5)(7)	E +	6.25%	10.37	%	5/23/2028	€	45,354	47,818	46,462
Spanx, LLC (4)(6)(9)					11/18/2027	5,000		(54)	—
Spanx, LLC (4)(9)	SF +	5.25%	10.20	%	11/20/2028	29,175		28,814	29,175
S&S Holdings LLC (7)	SF +	5.00%	9.85	%	9/19/2031	12,000		11,820	11,858
								88,292	87,141	1.10	%
Pharmaceuticals and Biotechnology
Advarra Holdings, Inc. (4)(10)	SF +	4.50%	9.35	%	9/13/2031	68,935		67,725	68,705
Advarra Holdings, Inc. (4)(6)(10)					9/13/2031	6,020		(30)	(20)
Advarra Holdings, Inc. (4)(10)	SF +	4.50%	9.35	%	9/13/2031	127,882		127,247	127,456
CPI Buyer, LLC (4)(9)	SF +	5.50%	10.82	%	11/1/2028	1,334		1,324	1,323
CPI Buyer, LLC (4)(6)(9)					10/30/2026	2,115		(19)	(10)
CPI Buyer, LLC (4)(9)	SF +	5.50%	10.82	%	11/1/2028	24,766		24,526	24,565
Dolcetto HoldCo S.P.A. (4)(5)(6)(7)					10/27/2028	€	8,400	(167)	—
Dolcetto HoldCo S.P.A. (4)(5)(7)	E +	5.50%	8.98	%	10/27/2028	€	82,300	80,623	91,633
Gusto Aus Bidco Pty Ltd (4)(5)(6)(9)	B +	6.50%	10.96	%	10/30/2028	A$	11,982	3,935	4,204
Gusto Aus Bidco Pty Ltd (4)(5)(9)	B +	6.50%	10.96	%	10/30/2028	A$	118,623	74,526	82,221
Syneos Health Inc (7)	SF +	3.75%	8.35	%	9/27/2030	9,950		9,969	9,696
								389,659	409,773	5.20	%
Real Estate Investment and Services
Associations Finance, Inc. (4)(10)	SF +	6.50%	12.00	%	7/3/2028	55,695		55,645	56,110
Associations Finance, Inc. (4)(6)(7)					7/3/2028	4,316		(4)	32
Associations Finance, Inc. (4)(6)(10)					7/3/2028	3,459		(3)	—
								55,638	56,142	0.71	%
Retailers
AI Grace Aus Bidco Pty Ltd (4)(5)(9)	E +	6.50%	9.96	%	12/5/2029	€	21,626	22,741	24,319
BradyplusUS Holdings, LLC (4)(6)(10)	SF +	6.00%	11.25	%	10/31/2029	1,489		1,043	1,066
BradyplusUS Holdings, LLC (4)(10)	SF +	6.00%	11.25	%	10/31/2029	13,470		13,353	13,504
Johnstone Supply LLC (7)	SF +	3.00%	8.17	%	6/9/2031	3,636		3,628	3,632
Knitwell Borrower LLC (4)(10)	SF +	8.00%	13.40	%	7/28/2027	46,199		45,220	45,599
Knitwell Borrower LLC (4)(10)	SF +	8.00%	13.40	%	7/28/2027	39,866		38,601	39,646
Petsmart LLC (9)	SF +	3.75%	8.70	%	2/11/2028	15,315		15,246	15,207
Staples, Inc. (8)	SF +	5.75%	10.69	%	9/4/2029	31,264		29,882	28,484
White Cap Buyer, LLC (7)	SF +	3.25%	8.10	%	10/19/2029	10,793		10,737	10,727
								180,451	182,184	2.31	%
Software and Computer Services
Armstrong Bidco Limited (4)(5)(7)	SN +	5.25%	10.20	%	6/28/2029	£	47,995	55,984	63,718
Armstrong Bidco Limited (4)(5)(7)	SN +	5.25%	10.20	%	6/28/2029	£	91,991	110,162	122,127
Artifact Bidco, Inc. (4)(6)(8)					7/26/2031	11,207		(111)	(110)
Artifact Bidco, Inc. (4)(8)	SF +	4.50%	9.10	%	7/26/2031	45,788		45,342	45,341
Artifact Bidco, Inc. (4)(6)(8)					7/26/2030	2,562		(25)	(26)
Artifact Bidco, Inc. (4)(6)(8)					7/26/2030	5,443		(53)	(54)
Artisan Bidco, Inc. (4)(10)	SF +	7.00%	12.12	%	11/7/2029	39,700		38,856	40,166

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

September 30, 2024

(in thousands)

(Unaudited)


Company (1)	Reference Rate and Spread (2)		Interest Rate (2)		Maturity Date	Par Amount/Units		Amortized Cost (3)	Fair Value	Percentage of Net Assets
Artisan Bidco, Inc. (4)(6)(10)					11/7/2029	6,000		(127)	—
Artisan Bidco, Inc. (4)(10)	E +	7.00%	10.54	%	11/7/2029	€	18,475	19,341	20,838
Auditboard, Inc. (4)(6)(9)					7/14/2031	75,714		(745)	(733)
Auditboard, Inc. (4)(6)(9)					7/14/2031	30,286		(293)	(293)
Auditboard, Inc. (4)(9)	SF +	4.75%	9.35	%	7/14/2031	159,000		157,460	157,460
Aurelia Netherlands Midco 2 B.V. (4)(5)(7)	E +	5.75%	9.55	%	5/22/2031	€	46,878	49,774	51,907
Avalara, Inc. (4)(6)(13)					10/19/2028	6,324		(107)	—
Avalara, Inc. (4)(9)	SF +	6.25%	10.85	%	10/19/2028	56,918		55,936	57,345
Barracuda Networks Inc (8)	SF +	4.50%	9.81	%	8/15/2029	13,757		13,469	13,408
Bottomline Technologies, Inc. (4)(6)(9)					5/15/2028	385		(2)	—
Bottomline Technologies, Inc. (4)(9)	SF +	5.25%	10.10	%	5/14/2029	4,523		4,492	4,523
Calabrio, Inc. (4)(6)(10)					4/16/2027	2,687		—	—
Calabrio, Inc. (4)(10)	SF +	5.50%	10.56	%	4/16/2027	22,257		22,257	22,257
Calabrio, Inc. (4)(10)	SF +	5.50%	10.56	%	4/16/2027	3,264		3,214	3,264
Central Parent LLC (7)	SF +	3.25%	7.85	%	7/6/2029	15,000		14,969	14,863
Certinia Inc. (4)(6)(10)					8/3/2029	5,449		(132)	—
Certinia Inc. (4)(10)	SF +	7.25%	12.34	%	8/3/2029	40,323		39,347	40,970
Cloud Software Group Inc (8)	SF +	4.00%	8.60	%	3/30/2029	18,624		17,826	18,569
Cloud Software Group Inc (7)			6.50	%	3/31/2029	7,740		6,831	7,695
Coupa Holdings, LLC (4)(6)(9)					2/27/2030	7,123		(154)	142
Coupa Holdings, LLC (4)(6)(9)					2/27/2029	6,211		(114)	—
Coupa Holdings, LLC (4)(9)	SF +	5.50%	10.75	%	2/27/2030	79,578		78,135	81,169
Denali Bidco Limited (4)(5)(7)	E +	6.00%	9.35	%	8/29/2030	€	9,441	9,825	10,722
Denali Bidco Limited (4)(5)(7)	E +	6.00%	9.35	%	8/29/2030	€	6,742	7,183	7,657
Denali Bidco Limited (4)(5)(7)	SN +	6.00%	10.95	%	8/29/2030	£	23,265	28,807	31,732
Denali Bidco Limited (4)(5)(6)(7)					8/29/2030	£	14,557	(347)	29
Denali Bidco Limited (4)(5)(7)	E +	5.50%	8.85	%	8/29/2030	€	15,916	16,642	17,762
Elements Finco Limited (4)(5)(6)(7)					4/29/2031	£	14,938	(182)	257
Elements Finco Limited (4)(5)(7)	SF +	4.75%	9.60	%	4/29/2031	10,431		10,333	10,565
Elements Finco Limited (4)(5)(7)	SF +	4.75%	9.60	%	4/29/2031	8,681		8,600	8,793
Elements Finco Limited (4)(5)(7)	SN +	5.00%	9.95	%	4/29/2031	£	33,323	41,467	45,133
Enverus Holdings Inc (4)(9)	SF +	5.50%	10.35	%	12/24/2029	64,254		63,415	64,897
Enverus Holdings Inc (4)(6)(9)					12/24/2029	3,229		(45)	32
Enverus Holdings Inc (4)(6)(9)	SF +	5.50%	10.35	%	12/24/2029	4,913		249	314
Huskies Parent, Inc. (4)(6)(9)	SF +	5.50%	10.45	%	11/3/2027	1,000		460	461
Huskies Parent, Inc. (4)(9)	SF +	5.50%	10.45	%	11/3/2028	24,962		24,663	24,682
IRI Group Holdings, Inc. (4)(9)	SF +	5.00%	9.85	%	12/1/2028	153,164		151,277	154,696
IRI Group Holdings, Inc. (4)(6)(13)	SF +	5.00%	9.85	%	12/1/2027	9,023		4,940	5,053
Kona Buyer, LLC (4)(6)(9)					7/23/2031	33,273		(333)	(324)
Kona Buyer, LLC (4)(6)(9)					7/23/2031	33,273		(328)	(324)
Kona Buyer, LLC (4)(9)	SF +	4.50%	9.78	%	7/23/2031	113,129		112,028	112,028
Kona Buyer, LLC (4)(6)(9)					7/23/2031	15,463		(150)	(150)
LMI Inc/DE (8)	SF +	3.50%	8.45	%	10/2/2028	5,282		5,262	5,153
Medallia, Inc. (4)(9)	SF +	6.50% (incl 4.00% PIK)	10.85	%	10/30/2028	79,128		79,128	78,112
McAfee Corp (8)	SF +	3.25%	8.45	%	3/1/2029	7,840		7,818	7,823
Mitchell International, Inc. (8)	SF +	3.25%	8.10	%	6/17/2031	10,000		9,952	9,865
Newfold Digital Holdings Group Inc (9)	SF +	3.50%	8.81	%	2/10/2028	1,780		1,772	1,578
New Era Technology, Inc. (4)(10)	SF +	6.25%	11.65	%	10/31/2026	19,062		19,062	18,974
OEConnection LLC (9)	SF +	5.25%	10.10	%	4/22/2031	67,457		66,825	67,233
OEConnection LLC (6)(9)					4/22/2031	11,741		(114)	(39)
OEConnection LLC (6)(9)					4/22/2031	7,338		(69)	(24)
Onesource Virtual, Inc. (4)(10)	SF +	5.00%	9.60	%	5/28/2030	209,517		206,555	209,018

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

September 30, 2024

(in thousands)

(Unaudited)


Company (1)	Reference Rate and Spread (2)		Interest Rate (2)		Maturity Date	Par Amount/Units		Amortized Cost (3)	Fair Value	Percentage of Net Assets
Onesource Virtual, Inc. (4)(6)(10)					5/28/2030	25,318		(358)	(60)
Oranje Holdco, Inc. (4)(6)(10)					2/1/2029	4,657		(84)	(8)
Oranje Holdco, Inc. (4)(10)	SF +	7.50%	12.75	%	2/1/2029	33,837		33,226	33,779
Oranje Holdco, Inc. (4)(10)	SF +	7.25%	12.50	%	2/1/2029	15,917		15,617	15,761
Peraton Inc. (9)	SF +	3.75%	8.70	%	2/1/2028	9,990		9,914	9,636
Perforce Software Inc (8)	SF +	4.50%	9.35	%	7/1/2026	19,550		19,333	19,562
Ping Identity Holding Corp. (4)(6)(9)					10/17/2028	6,068		(105)	—
Ping Identity Holding Corp. (4)(9)	SF +	4.75%	9.35	%	10/17/2029	59,003		57,899	59,003
Prism Parent Co., Inc. (4)(6)(9)					9/19/2028	4,333		(70)	—
Prism Parent Co., Inc. (4)(9)	SF +	5.00%	9.92	%	9/19/2028	42,467		41,893	42,467
Project Alpha Intermediate Holding, Inc. (8)	SF +	3.75%	9.00	%	10/28/2030	17,604		17,344	17,663
Project Ruby Ultimate Parent Corp (9)	SF +	3.25%	8.21	%	3/10/2028	12,163		12,061	12,159
Proofpoint, Inc. (8)	SF +	3.00%	7.85	%	8/31/2028	2,372		2,372	2,374
Quail Buyer, Inc. (4)(9)	SF +	5.50%	10.93	%	10/1/2027	7,255		7,179	7,328
Quail Buyer, Inc. (4)(9)	SF +	5.50%	10.93	%	10/1/2027	39,738		39,203	40,135
Riley MergeCo LLC (4)(6)(10)					9/23/2027	304		(4)	—
Riley MergeCo LLC (4)(10)	SF +	5.50%	10.46	%	9/23/2027	1,803		1,782	1,802
Smarsh Inc. (4)(6)(9)	SF +	5.75%	10.35	%	2/16/2029	4,286		2,084	2,143
Smarsh Inc. (4)(6)(9)					2/16/2029	1,071		(13)	—
Smarsh Inc. (4)(9)	SF +	5.75%	10.35	%	2/16/2029	17,143		16,923	17,143
Technology Growth Capital Pty Ltd (4)(5)(10)	SF +	6.50%	11.82	%	7/2/2030	30,127		29,332	29,332
TriMech Acquisition Corp. (4)(6)(14)	P +	3.75%	11.75	%	3/10/2028	3,289		161	197
TriMech Acquisition Corp. (4)(10)	SF +	4.75%	9.35	%	3/10/2028	21,168		20,976	21,168
TriMech Acquisition Corp. (4)(10)	SN +	4.75%	9.57	%	3/10/2028	£	35,978	43,637	48,109
Thunder Generation Funding LLC (7)	SF +	3.00%	7.59	%	9/27/2031	5,882		5,853	5,882
UKG Inc (7)	SF +	3.25%	8.55	%	2/10/2031	9,902		9,892	9,915
User Zoom Technologies, Inc. (4)(9)	SF +	7.00%	12.25	%	4/5/2029	18,948		18,690	18,948
Zelis Payments Buyer, Inc. (7)	SF +	2.75%	7.60	%	9/28/2029	10,939		10,891	10,945
Zendesk Inc (4)(6)(9)					11/22/2028	39,321		(635)	—
Zendesk Inc (4)(6)(9)					11/22/2028	17,940		(248)	—
Zendesk Inc (4)(9)	SF +	5.00%	9.69	%	11/22/2028	161,380		159,164	161,380
								2,180,136	2,243,017	28.44	%
Technology Hardware and Equipment
Altar Bidco Inc (8)	SF +	3.10%	7.95	%	2/1/2029	8,802		8,754	8,822
CC WDW Borrower, Inc. (4)(6)(10)					1/27/2028	5,122		(85)	(167)
CC WDW Borrower, Inc. (4)(10)	SF +	6.75%	12.15	%	1/27/2028	44,760		43,987	43,299
CC WDW Borrower, Inc. (4)(6)(10)					1/27/2028	2,318		—	(76)
TechInsights Inc (4)(5)(10)	SF +	6.94%	11.69	%	11/9/2027	975		963	975
TechInsights Inc (4)(5)(10)	SF +	6.94%	11.69	%	11/9/2027	2,533		2,503	2,533
								56,122	55,386	0.70	%
Telecommunications Equipment
Delta Topco, Inc. (7)	SF +	3.50%	8.20	%	11/30/2029	18,288		18,245	18,281
Guardian US Holdco LLC (8)	SF +	3.50%	8.10	%	1/31/2030	7,900		7,777	7,863
Ribbon Communications Operating Company, Inc (4)(5)(10)	SF +	6.25%	11.17	%	6/21/2029	56,119		55,059	55,612
Ribbon Communications Operating Company, Inc (4)(5)(6)(10)					6/21/2029	6,365		(120)	(58)
								80,961	81,698	1.04	%
Telecommunications Service Providers
Directv Financing, LLC (9)	SF +	5.00%	9.96	%	8/2/2027	7,360		7,266	7,374
Meriplex Communications, LTD (4)(9)	SF +	5.00%	9.95	%	7/17/2028	2,912		2,889	2,912
Meriplex Communications, LTD (4)(9)	SF +	5.00%	9.95	%	7/17/2028	1,143		1,132	1,143
Meriplex Communications, LTD (4)(9)	SF +	5.00%	9.95	%	7/17/2028	13,707		13,571	13,707

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

September 30, 2024

(in thousands)

(Unaudited)


Company (1)	Reference Rate and Spread (2)		Interest Rate (2)		Maturity Date	Par Amount/Units		Amortized Cost (3)		Fair Value		Percentage of Net Assets
								24,858		25,136		0.32	%
Travel and Leisure
Artemis Bidco Limited (4)(5)(6)(7)	SN +	6.00%	10.99	%	9/8/2028	£	2,437	315		(284)
Artemis Bidco Limited (4)(5)(7)	SN +	6.00%	11.06	%	9/8/2028	£	7,749	10,113		8,323
Artemis Bidco Limited (4)(5)(7)	SN +	6.00%	11.06	%	9/8/2028	£	4,509	5,914		4,844
Artemis Bidco Limited (4)(5)(7)	SN +	6.00%	10.97	%	9/8/2028	£	4,676	6,127		5,023
Fertitta Entertainment LLC/NV (8)	SF +	3.75%	8.85	%	1/27/2029	9,878		9,623		9,862
Havila Kystruten Operations AS (4)(5)(17)	E +	8.75% (incl 2.75% PIK)	12.45	%	7/27/2026	€	19,254	21,342		22,361
HB AcquisitionCo PTY LTD (4)(5)(6)(8)	B +	6.50%	10.85	%	8/7/2029	A$	3,579	413		423
HB AcquisitionCo PTY LTD (4)(5)(8)	B +	6.50%	10.85	%	8/7/2029	A$	32,211	21,168		21,622
Legends Hospitality Holding Company, LLC (4)(6)(9)					8/22/2031	5,522		(110)		(109)
Legends Hospitality Holding Company, LLC (4)(6)(9)					8/22/2030	14,733		(289)		(289)
Legends Hospitality Holding Company, LLC (4)(9)	SF +	5.50% (incl 2.75% PIK)	10.63	%	8/22/2031	93,875		91,245		92,026
The One Group, LLC (4)(10)	SF +	6.50%	11.75	%	5/1/2029	50,793		49,397		49,879
The One Group, LLC (4)(6)(7)					10/31/2028	6,649		(181)		(123)
Travel Leaders Group, LLC (4)(14)	SF +	8.50% (incl 3.00% PIK)	13.45	%	3/27/2028	139,291		136,920		143,236
								351,997		356,794		4.52	%
Total First Lien Debt								$	12,225,539	$	12,424,346	157.52	%

Second Lien Debt
Consumer Services
Asurion Corporation (7)	SF +	5.25%	10.21	%	1/31/2028	$	4,132	$	4,100	$	3,891
								4,100		3,891		0.05	%
Health Care Providers
Charlotte Buyer Inc (4)(8)	SF +	8.25%	13.35	%	8/11/2028	3,222		3,069		3,174
								3,069		3,174		0.04	%
Industrial Support Services
Galaxy US Opco Inc. (4)(5)(7)(18)	SF +	8.25%			4/29/2030	9,000		8,832		4,500
Sedgwick Claims Management Services, Inc. (4)(7)	SF +	5.00%	10.25	%	7/31/2032	25,000		24,752		24,755
								33,584		29,255		0.37	%
Total Second Lien Debt								$	40,753	$	36,320	0.46	%

Other Secured Debt
Asset Based Lending and Fund Finance
TPG VIII Merlin New Holdings I, L.P. (4)(5)(10)	SF +	6.50%	11.81	%	3/15/2027	$	58,681	$	57,721	$	57,803
Total Other Secured Debt								$	57,721	$	57,803	0.73	%

Unsecured Debt
Consumer Services
Wildcat Car Wash Holdings, LLC (4)(7)			15.00% PIK		7/16/2029	$	14,955	$	14,955	$	14,955
								14,955		14,955		0.19	%
Health Care Providers
VetCor Group Holdings LLC (4)(7)			13.75% PIK		9/3/2030	312		308		304
VetCor Group Holdings LLC (4)(7)			14.75% PIK		9/3/2030	267		262		271
VetCor Group Holdings LLC (4)(7)			13.75% PIK		9/3/2030	990		977		965
								1,547		1,540		0.02	%

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

September 30, 2024

(in thousands)

(Unaudited)


Company (1)	Reference Rate and Spread (2)		Interest Rate (2)		Maturity Date	Par Amount/Units		Amortized Cost (3)		Fair Value		Percentage of Net Assets
Medical Equipment and Services
DCA Acquisition Holdings LLC (4)(7)			13.13% PIK		12/28/2032	109		107		91
DCA Acquisition Holdings LLC (4)(7)			13.13% PIK		12/28/2032	196		191		165
DCA Acquisition Holdings LLC (4)(7)			13.13% PIK		12/28/2032	1,152		1,137		970
								1,435		1,226		0.02	%
Non-life Insurance
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer (7)			6.75	%	10/15/2027	6,255		5,851		6,237
								5,851		6,237		0.08	%
Real Estate Investment and Services
Associations Finance, Inc. (4)(7)			14.25% PIK		5/3/2030	8,631		8,593		8,631
Associations Finance, Inc. (4)(7)			14.25% PIK		5/3/2030	3,296		3,282		3,296
								11,875		11,927		0.15	%
Software and Computer Services
Elements Midco 1 Limited (4)(5)(8)	SN +	8.00% PIK	12.99	%	4/29/2032	£	1,635	2,008		2,184
								2,008		2,184		0.03	%
Telecommunications Service Providers
CCO Holdings LLC / CCO Holdings Capital Corp (7)			5.50	%	5/1/2026	7,000		7,049		6,992
								7,049		6,992		0.09	%
Total Unsecured Debt								$	44,720	$	45,061	0.57	%

Structured Finance
Structured Finance Investments
720 East CLO V Ltd (5)(7)	SF +	6.30%	11.63	%	7/20/2037	$	4,000	$	4,000	$	4,009
AMMC CLO 21 LTD (5)(7)	SF +	6.76%	12.00	%	11/2/2030	4,126		3,716		4,118
Ares CLO Ltd (5)(7)	SF +	6.70%	12.00	%	4/20/2037	5,000		5,000		5,033
Bain Capital Credit CLO 2024-3 Ltd (5)(7)	SF +	6.25%	11.49	%	7/16/2037	2,000		2,000		2,008
Barings CLO Ltd 2024-IV (5)(7)	SF +	5.95%	11.14	%	10/20/2037	4,500		4,500		4,543
Carlyle Global Market Strategies (5)(7)	L +	5.40%	10.93	%	7/27/2031	1,200		966		1,162
Columbia Cent CLO 33 Ltd (5)(7)	SF +	7.16%	12.46	%	4/20/2037	2,000		1,961		1,990
Dryden 108 CLO Ltd (5)(7)					7/18/2035	2,900		2,291		2,201
Marble Point CLO XI Ltd (5)(7)	SF +	3.06%	8.34	%	12/18/2030	1,850		1,599		1,827
Monroe Capital MML CLO XIV LLC (5)(7)	SF +	10.02%	15.30	%	10/24/2034	2,500		2,352		2,500
Oaktree CLO 2019-4 Ltd (5)(7)	SF +	6.59%	11.87	%	7/20/2037	3,000		2,971		2,999
OCP CLO 2017-14 Ltd (5)(7)	SF +	6.80%	12.10	%	1/15/2033	1,469		1,304		1,474
Octagon 52 Ltd (5)(7)	SF +	7.33%	12.69	%	7/23/2037	5,000		4,951		5,031
Octagon 63 Ltd (5)(7)	SF +	6.50%	11.82	%	7/20/2037	3,000		3,000		3,024
Octagon Investment Partners 29 Ltd (5)(7)	SF +	7.17%	12.49	%	7/18/2039	3,000		2,985		3,018
Onex Clo Subsidiary 2024-3 Ltd (5)(7)	SF +	6.00%	11.33	%	7/20/2037	5,000		5,000		5,001
Rad CLO Ltd (5)(7)	SF +	6.51%	11.81	%	4/15/2034	2,500		2,504		2,507
Shackleton 2019-XV CLO Ltd (5)(7)	SF +	6.92%	12.22	%	1/15/2032	3,000		2,680		3,013
Voya CLO Ltd (5)(7)	SF +	6.00%	11.18	%	7/20/2037	4,000		4,000		3,995
Voya CLO Ltd (5)(7)	SF +	3.81%	9.10	%	4/17/2030	1,500		1,354		1,507
								59,134		60,960		0.77	%
Total Structured Finance								$	59,134	$	60,960	0.77	%

Equity Investments
Consumer Services

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

September 30, 2024

(in thousands)

(Unaudited)


Company (1)	Reference Rate and Spread (2)		Interest Rate (2)		Maturity Date	Par Amount/Units		Amortized Cost (3)		Fair Value		Percentage of Net Assets
CG Parent Intermediate Holdings, Inc. (4)						2,000		$	1,940	$	2,248
Club Car Wash Preferred, LLC (4)			15.00% PIK			8,817		8,817		8,817
Rapid Express Preferred, LLC (4)			15.00% PIK			2,784		2,784		2,784
Club Car Wash Preferred, LLC (4)			15.00% PIK			12,318		12,318		12,318
Rapid Express Preferred, LLC (4)			15.00% PIK			5,553		5,553		5,553
Thrasio Holdings, Inc. (4)						19,015		—		—
								31,412		31,720		0.40	%
Electricity
IP Operating Portfolio I, LLC (4)						3		68		424
								68		424		0.01	%
Gas, Water and Multi-utilities
Eagle LNG Partners Jacksonville II LLC (4)						—		—		—
ELNG Equity LLC (4)						78,038		—		—
								—		—		—	%
Industrial Support Services
BCPE Virginia HoldCo, Inc. (4)						2,000		1,960		2,272
								1,960		2,272		0.03	%
Media
Racing Point UK Holdings Limited (4)(5)						168		1,008		1,042
OneTeam Partners, LLC (4)			8.00	%		1,000		1,000		1,186
								2,008		2,228		0.03	%
Travel and Leisure
The ONE Group Hospitality, Inc. (4)						6,667		—		—
The ONE Group Hospitality, Inc. (4)						11,911		—		—
The ONE Group Hospitality, Inc. (4)						1,000		950		1,017
								950		1,017		0.01	%
Total Equity Investments								$	36,398	$	37,661	0.48	%
Total Investments - Non-Controlled/Non-Affiliated								$	12,464,265	$	12,662,151	160.54	%

Non-Controlled/Affiliated Investments
First Lien Debt
Industrial Support Services
Southern Graphics Inc. (4)(7)(18)(19)	SF +	7.50% PIK			5/1/2028	$	5,511	$	5,362	$	5,511
								5,362		5,511		0.07	%
Total First Lien Debt								$	5,362	$	5,511	0.07	%

Second Lien Debt
Industrial Support Services
Southern Graphics Inc. (4)(7)(18)(19)	SF +	7.50% PIK			10/30/2028	$	1,932	$	1,881	$	1,932
								1,881		1,932		0.02	%
Total Second Lien Debt								$	1,881	$	1,932	0.02	%

Equity Investments
Industrial Support Services
Southern Graphics Holdings LLC (4)(19)						274		$	2,333	$	2,802
								2,333		2,802		0.04	%

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

September 30, 2024

(in thousands)

(Unaudited)


Company (1)	Reference Rate and Spread (2)	Interest Rate (2)	Maturity Date	Par Amount/Units		Amortized Cost (3)		Fair Value		Percentage of Net Assets
Travel and Leisure
SLF V AD1 Holdings, LLC (4)(19)(20)				10,101		9,891		9,812
						9,891		9,812		0.12	%
Total Equity Investments						$	12,224	$	12,614	0.16	%
Total Investments - Non-Controlled/Affiliated						$	19,467	$	20,057	0.25	%

Controlled/Affiliated Investments
Investments in Joint Ventures
ULTRA III, LLC (5)(19)						$	265,279	$	284,454
Total Investments in Joint Ventures						$	265,279	$	284,454	3.61	%
Total Investments - Controlled/Affiliated						$	265,279	$	284,454	3.61	%
Total Investment Portfolio						$	12,749,011	$	12,966,662	164.40	%

Cash Equivalents
J.P. Morgan U.S. Government Fund, Institutional Shares (5)				$	185,854	$	185,854	$	185,854
Total Cash Equivalents						$	185,854	$	185,854	2.36	%
Total Investment Portfolio, Cash Equivalents						$	12,934,865	$	13,152,516	166.75	%

(1) Unless otherwise indicated, issuers of debt and equity investments held by the Company (which such term “Company” shall include the Company’s consolidated subsidiaries for purposes of this Consolidated Schedule of Investments) are denominated in dollars. All debt investments are income producing unless otherwise indicated. All equity investments are non-income producing unless otherwise noted. Certain portfolio company investments are subject to contractual restrictions on sales. The total par amount (in thousands) is presented for debt investments and the number of shares or units (in whole amounts) owned is presented for equity investments. Each of the Company’s investments is pledged as collateral under its credit facilities and debt securitization issuances unless otherwise indicated.

(2) The majority of the investments bear interest at a rate that may be determined by reference to the London Interbank Offered Rate (“LIBOR” or “L”), Prime Rate (“Prime” or “P”), Sterling Overnight Index Average ("SONIA" or "SN"), Euro Interbank Offer Rate (“Euribor” or “E”), Secured Overnight Financing Rate ("SOFR" or "SF"), Canadian Dollar Offered Rate ("CDOR" or "C"), Singapore Overnight Rate Average (“SORA”), Stockholm Interbank Offered Rate (“STIBOR” or “ST”), Norwegian Interbank Offered Rate (“NIBOR” or “N”), Bloomberg Short Term Bank Yield Index (“BS”), or Bank Bill Swap Rate ("BBSW" or "B") which reset daily, monthly, quarterly, semiannually or annually. For each such investment, the Company has provided the spread over LIBOR, Prime, SONIA, E, SOFR, CDOR, SORA, STIBOR, NIBOR, BS or BBSW and the current contractual interest rate in effect at September 30, 2024. Certain investments are subject to a LIBOR, Prime, or SOFR interest rate floor, or rate cap. Certain investments contain a Payment-in-Kind (“PIK”) provision. SOFR based contracts may include a credit spread adjustment, which is included within the stated all-in interest rate, if applicable, that is charged in addition to the base rate and the stated spread.

(3) The cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on debt investments using the effective interest method in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP").

(4) These investments were valued using unobservable inputs and are considered Level 3 investments. Fair value was determined in good faith by the Adviser as the Company’s valuation designee, subject to the oversight of the Board of Trustees (the “Board”) (see Note 2 and Note 5), pursuant to the Company’s valuation policy.

(5) The investment is not a qualifying asset, in whole or in part, under Section 55(a) of the 1940 Act. The Company may not acquire any non-qualifying asset unless, at the time of acquisition, qualifying assets represent at least 70% of the Company’s total assets. As of September 30, 2024, non-qualifying assets represented 20.5% of total assets as calculated in accordance with regulatory requirements.

(6) Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion, although the investment may be subject to unused commitment fees. Negative cost and fair value results from unamortized fees, which are capitalized to the investment cost. The unfunded loan commitment may be subject to a commitment termination date that may expire prior to the maturity date stated. See below for more information on the Company’s unfunded commitments:


Investments-non-controlled/non-affiliated	Commitment Type	Unfunded Commitment		Fair Value
Auditboard, Inc.	1st Lien Senior Secured Delayed Draw Loan	$	75,714	$	(733)
Club Car Wash Operating, LLC	1st Lien Senior Secured Delayed Draw Loan	63,642		(599)
LOCI Bidco Limited	1st Lien Senior Secured Delayed Draw Loan	46,320		(496)
MB2 Dental Solutions, LLC	1st Lien Senior Secured Delayed Draw Loan	45,398		(708)
Zendesk Inc	1st Lien Senior Secured Delayed Draw Loan	39,321		—
Kona Buyer, LLC	1st Lien Senior Secured Delayed Draw Loan	33,273		(324)
Kona Buyer, LLC	1st Lien Senior Secured Delayed Draw Loan	33,273		(324)
Capripack Debtco PLC	1st Lien Senior Secured Delayed Draw Loan	33,261		90

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

September 30, 2024

(in thousands)

(Unaudited)


Investments-non-controlled/non-affiliated	Commitment Type	Unfunded Commitment	Fair Value
MB2 Dental Solutions, LLC	1st Lien Senior Secured Delayed Draw Loan	32,427	(506)
NTH Degree Purchaser, Inc	1st Lien Senior Secured Delayed Draw Loan	30,800	(616)
Auditboard, Inc.	1st Lien Senior Secured Revolving Loan	30,286	(293)
Spotless Brands, LLC	1st Lien Senior Secured Delayed Draw Loan	29,416	(288)
Capripack Debtco PLC	1st Lien Senior Secured Delayed Draw Loan	29,103	79
AB Centers Acquisition Corporation	1st Lien Senior Secured Delayed Draw Loan	28,837	(417)
Coding Solutions Acquisition, Inc.	1st Lien Senior Secured Delayed Draw Loan	27,266	(345)
WP CPP Holdings, LLC	1st Lien Senior Secured Revolving Loan	26,285	—
Onesource Virtual, Inc.	1st Lien Senior Secured Revolving Loan	25,318	(60)
Chartis Group LLC	1st Lien Senior Secured Delayed Draw Loan	25,040	(249)
Baker Tilly Advisory Group, LP	1st Lien Senior Secured Revolving Loan	23,539	(58)
IP Operations II Investco, LLC	1st Lien Senior Secured Delayed Draw Loan	23,294	(312)
Zeus Company LLC	1st Lien Senior Secured Delayed Draw Loan	23,088	231
Accession Risk Management Group, Inc.	1st Lien Senior Secured Delayed Draw Loan	21,861	(36)
Zeus Company LLC	1st Lien Senior Secured Revolving Loan	21,506	—
Bamboo US BidCo LLC	1st Lien Senior Secured Revolving Loan	21,254	(18)
Royal Buyer, LLC	1st Lien Senior Secured Delayed Draw Loan	20,125	—
Elements Finco Limited	1st Lien Senior Secured Delayed Draw Loan	19,975	257
Denali Bidco Limited	1st Lien Senior Secured Delayed Draw Loan	19,466	29
Enstall Group B.V.	1st Lien Senior Secured Delayed Draw Loan	19,131	(1,113)
2080 Media, Inc.	1st Lien Senior Secured Delayed Draw Loan	18,859	—
Zendesk Inc	1st Lien Senior Secured Revolving Loan	17,940	—
123Dentist Inc	1st Lien Senior Secured Delayed Draw Loan	17,656	(20)
PerkinElmer U.S. LLC	1st Lien Senior Secured Delayed Draw Loan	16,791	129
AB Centers Acquisition Corporation	1st Lien Senior Secured Revolving Loan	16,655	(241)
MAI Capital Management Intermediate LLC	1st Lien Senior Secured Delayed Draw Loan	16,300	(161)
Axiom Buyer, LLC	1st Lien Senior Secured Delayed Draw Loan	16,189	(389)
NTH Degree Purchaser, Inc	1st Lien Senior Secured Revolving Loan	16,125	(323)
Baker Tilly Advisory Group, LP	1st Lien Senior Secured Delayed Draw Loan	15,518	(17)
Kona Buyer, LLC	1st Lien Senior Secured Revolving Loan	15,463	(150)
Sig Parent Holdings, LLC	1st Lien Senior Secured Delayed Draw Loan	15,224	(150)
Legends Hospitality Holding Company, LLC	1st Lien Senior Secured Revolving Loan	14,733	(289)
Chartis Group LLC	1st Lien Senior Secured Revolving Loan	14,716	(146)
Sugar PPC Buyer LLC	1st Lien Senior Secured Delayed Draw Loan	14,474	(21)
Empower Payments Investor, LLC	1st Lien Senior Secured Delayed Draw Loan	14,426	144
MB2 Dental Solutions, LLC	1st Lien Senior Secured Revolving Loan	13,909	(217)
Atlas Intermediate III, L.L.C.	1st Lien Senior Secured Revolving Loan	13,445	—
Femur Buyer, Inc.	1st Lien Senior Secured Revolving Loan	13,350	(616)
Vital Care Buyer, LLC	1st Lien Senior Secured Revolving Loan	13,271	(129)
Coding Solutions Acquisition, Inc.	1st Lien Senior Secured Revolving Loan	12,505	(158)
Truck-Lite Co, LLC	1st Lien Senior Secured Revolving Loan	11,853	—
Higginbotham Insurance Agency Inc	1st Lien Senior Secured Delayed Draw Loan	11,832	—
2080 Media, Inc.	1st Lien Senior Secured Revolving Loan	11,824	—
OEConnection LLC	1st Lien Senior Secured Delayed Draw Loan	11,741	(39)
Axiom Buyer, LLC	1st Lien Senior Secured Revolving Loan	11,693	(281)
Coretrust Purchasing Group LLC	1st Lien Senior Secured Revolving Loan	11,656	—
Artifact Bidco, Inc.	1st Lien Senior Secured Delayed Draw Loan	11,207	(109)
Summit Acquisition Inc.	1st Lien Senior Secured Delayed Draw Loan	10,961	219
Coretrust Purchasing Group LLC	1st Lien Senior Secured Delayed Draw Loan	10,736	—
Radwell Parent, LLC	1st Lien Senior Secured Revolving Loan	10,617	(11)
Alchemy US Holdco 1 LLC	1st Lien Senior Secured Delayed Draw Loan	10,271	(437)
Cadence - Southwick, Inc.	1st Lien Senior Secured Revolving Loan	9,952	—
Empower Payments Investor, LLC	1st Lien Senior Secured Revolving Loan	9,704	—
Formerra, LLC	1st Lien Senior Secured Revolving Loan	9,625	(118)

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

September 30, 2024

(in thousands)

(Unaudited)


Investments-non-controlled/non-affiliated	Commitment Type	Unfunded Commitment	Fair Value
Dolcetto HoldCo S.P.A.	1st Lien Senior Secured Delayed Draw Loan	9,353	—
Truck-Lite Co, LLC	1st Lien Senior Secured Delayed Draw Loan	9,338	(156)
Parfums Holding Company, Inc.	1st Lien Senior Secured Revolving Loan	9,034	—
IP Operations II Investco, LLC	1st Lien Senior Secured Delayed Draw Loan	8,849	(118)
E.S.G. Movilidad, S.L.U.	1st Lien Senior Secured Delayed Draw Loan	8,764	—
Violin FINCO Guernsey Limited	1st Lien Senior Secured Delayed Draw Loan	8,305	30
PPV Intermediate Holdings, LLC	1st Lien Senior Secured Revolving Loan	8,145	—
Bamboo US BidCo LLC	1st Lien Senior Secured Delayed Draw Loan	8,012	13
Captive Resources Midco LLC	1st Lien Senior Secured Revolving Loan	7,558	—
OEConnection LLC	1st Lien Senior Secured Revolving Loan	7,338	(24)
Coupa Holdings, LLC	1st Lien Senior Secured Delayed Draw Loan	7,123	142
AI Circle Bidco Limited	1st Lien Senior Secured Delayed Draw Loan	7,097	(31)
Royal Buyer, LLC	1st Lien Senior Secured Revolving Loan	7,000	—
Camin Cargo Control Holdings, Inc.	1st Lien Senior Secured Delayed Draw Loan	6,923	—
CD&R Madison UK BIDCO LTD	1st Lien Senior Secured Delayed Draw Loan	6,910	69
Frontgrade Technologies Holdings Inc.	1st Lien Senior Secured Revolving Loan	6,864	—
IG Investments Holdings, LLC	1st Lien Senior Secured Revolving Loan	6,836	—
Summit Acquisition Inc.	1st Lien Senior Secured Revolving Loan	6,685	—
The One Group, LLC	1st Lien Senior Secured Revolving Loan	6,649	(123)
Trupanion, Inc.	1st Lien Senior Secured Revolving Loan	6,576	—
Galway Borrower LLC	1st Lien Senior Secured Delayed Draw Loan	6,384	(8)
Ribbon Communications Operating Company, Inc	1st Lien Senior Secured Revolving Loan	6,365	(58)
Avalara, Inc.	1st Lien Senior Secured Revolving Loan	6,324	—
Coupa Holdings, LLC	1st Lien Senior Secured Revolving Loan	6,211	—
MAI Capital Management Intermediate LLC	1st Lien Senior Secured Revolving Loan	6,100	(60)
Ping Identity Holding Corp.	1st Lien Senior Secured Revolving Loan	6,068	—
Advarra Holdings, Inc.	1st Lien Senior Secured Delayed Draw Loan	6,020	(20)
Artisan Bidco, Inc.	1st Lien Senior Secured Revolving Loan	6,000	—
Meralm Bidco AB	1st Lien Senior Secured Delayed Draw Loan	5,777	(86)
Arcfield Acquisition Corp	1st Lien Senior Secured Revolving Loan	5,687	—
Cube Industrials Buyer, Inc.	1st Lien Senior Secured Revolving Loan	5,664	—
Legends Hospitality Holding Company, LLC	1st Lien Senior Secured Delayed Draw Loan	5,522	(109)
More Cowbell II, LLC	1st Lien Senior Secured Delayed Draw Loan	5,484	55
Certinia Inc.	1st Lien Senior Secured Revolving Loan	5,449	—
Artifact Bidco, Inc.	1st Lien Senior Secured Revolving Loan	5,443	(53)
CC WDW Borrower, Inc.	1st Lien Senior Secured Revolving Loan	5,122	(167)
International Entertainment Investments Ltd	1st Lien Senior Secured Delayed Draw Loan	5,080	51
Spanx, LLC	1st Lien Senior Secured Revolving Loan	5,000	—
Oranje Holdco, Inc.	1st Lien Senior Secured Revolving Loan	4,657	(8)
Enverus Holdings Inc	1st Lien Senior Secured Revolving Loan	4,600	—
Specialty Ingredients, LLC	1st Lien Senior Secured Revolving Loan	4,511	—
More Cowbell II, LLC	1st Lien Senior Secured Revolving Loan	4,437	—
Daphne S.P.A.	1st Lien Senior Secured Delayed Draw Loan	4,430	(354)
Coretrust Purchasing Group LLC	1st Lien Senior Secured Delayed Draw Loan	4,423	—
Prism Parent Co., Inc.	1st Lien Senior Secured Delayed Draw Loan	4,333	—
Associations Finance, Inc.	1st Lien Senior Secured Delayed Draw Loan	4,316	32
Plasma Buyer LLC	1st Lien Senior Secured Revolving Loan	4,162	(151)
Gusto Aus Bidco Pty Ltd	1st Lien Senior Secured Delayed Draw Loan	4,101	10
Pareto Health Intermediate Holdings, Inc.	1st Lien Senior Secured Revolving Loan	4,032	—
IRI Group Holdings, Inc.	1st Lien Senior Secured Revolving Loan	3,970	—
Yes Energy LLC	1st Lien Senior Secured Delayed Draw Loan	3,913	78
ASDAM Operations Pty Ltd	1st Lien Senior Secured Delayed Draw Loan	3,748	—
Galway Borrower LLC	1st Lien Senior Secured Revolving Loan	3,701	(4)
Alera Group, Inc.	1st Lien Senior Secured Delayed Draw Loan	3,611	36

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

September 30, 2024

(in thousands)

(Unaudited)


Investments-non-controlled/non-affiliated	Commitment Type	Unfunded Commitment		Fair Value
Spirit RR Holdings, Inc.	1st Lien Senior Secured Revolving Loan	3,579		—
Camin Cargo Control Holdings, Inc.	1st Lien Senior Secured Revolving Loan	3,462		—
Associations Finance, Inc.	1st Lien Senior Secured Revolving Loan	3,459		—
Enverus Holdings Inc	1st Lien Senior Secured Delayed Draw Loan	3,229		32
TriMech Acquisition Corp.	1st Lien Senior Secured Revolving Loan	3,092		—
Sig Parent Holdings, LLC	1st Lien Senior Secured Revolving Loan	3,045		(30)
Spirit RR Holdings, Inc.	1st Lien Senior Secured Delayed Draw Loan	2,993		—
Accession Risk Management Group, Inc.	1st Lien Senior Secured Revolving Loan	2,903		(5)
Artemis Bidco Limited	1st Lien Senior Secured Delayed Draw Loan	2,900		(571)
Integrity Marketing Acquisition LLC	1st Lien Senior Secured Delayed Draw Loan	2,879		(1)
Calabrio, Inc.	1st Lien Senior Secured Revolving Loan	2,687		—
Artifact Bidco, Inc.	1st Lien Senior Secured Revolving Loan	2,562		(25)
CC WDW Borrower, Inc.	1st Lien Senior Secured Delayed Draw Loan	2,318		(76)
Smarsh Inc.	1st Lien Senior Secured Delayed Draw Loan	2,143		—
CPI Buyer, LLC	1st Lien Senior Secured Revolving Loan	2,115		(10)
Spotless Brands, LLC	1st Lien Senior Secured Revolving Loan	2,070		—
HB AcquisitionCo PTY LTD	1st Lien Senior Secured Delayed Draw Loan	1,980		(58)
IXM Holdings, Inc.	1st Lien Senior Secured Delayed Draw Loan	1,638		16
Foundation Automotive US Corp	1st Lien Senior Secured Revolving Loan	1,621		—
IXM Holdings, Inc.	1st Lien Senior Secured Revolving Loan	1,343		—
Plasma Buyer LLC	1st Lien Senior Secured Delayed Draw Loan	1,261		(50)
June Purchaser LLC	1st Lien Senior Secured Delayed Draw Loan	1,190		(4)
123Dentist Inc	1st Lien Senior Secured Delayed Draw Loan	1,179		(1)
Smarsh Inc.	1st Lien Senior Secured Revolving Loan	1,071		—
NBG Acquisition Corp.	1st Lien Senior Secured Revolving Loan	986		(46)
Arc Media Holdings Limited	1st Lien Senior Secured Revolving Loan	982		(10)
Hobbs & Associates LLC	1st Lien Senior Secured Delayed Draw Loan	909		—
Patriot Growth Insurance Services LLC	1st Lien Senior Secured Revolving Loan	685		—
Accession Risk Management Group, Inc.	1st Lien Senior Secured Delayed Draw Loan	617		(1)
Time Manufacturing Holdings, LLC	1st Lien Senior Secured Revolving Loan	562		(63)
Huskies Parent, Inc.	1st Lien Senior Secured Revolving Loan	529		(5)
BradyplusUS Holdings, LLC	1st Lien Senior Secured Delayed Draw Loan	427		1
Bottomline Technologies, Inc.	1st Lien Senior Secured Revolving Loan	385		—
Integrity Marketing Acquisition LLC	1st Lien Senior Secured Revolving Loan	361		—
Riley MergeCo LLC	1st Lien Senior Secured Revolving Loan	304		—
ERC Topco Holdings, LLC	1st Lien Senior Secured Revolving Loan	245		(98)
NRO Holdings III Corp.	1st Lien Senior Secured Delayed Draw Loan	214		(4)
NRO Holdings III Corp.	1st Lien Senior Secured Revolving Loan	100		(2)
Total		$	1,717,469	$	(12,364)

(7) There are no interest rate floors on these investments.

(8)The interest rate floor on these investments as of September 30, 2024 was 0.50%.

(9)The interest rate floor on these investments as of September 30, 2024 was 0.75%.

(10)The interest rate floor on these investments as of September 30, 2024 was 1.00%.

(11)The interest rate floor on these investments as of September 30, 2024 was 1.25%.

(12)The interest rate floor on these investments as of September 30, 2024 was 1.50%.

(13)The interest rate floor on these investments as of September 30, 2024 was 1.75%.

(14)The interest rate floor on these investments as of September 30, 2024 was 2.00%.

(15)The interest rate floor on these investments as of September 30, 2024 was 2.50%.

(16)The interest rate floor on these investments as of September 30, 2024 was 3.00%.

(17)The interest rate floor on these investments as of September 30, 2024 was 3.25%.

(18)Loan was on non-accrual status as of September 30, 2024.

(19)Under the Investment Company Act of 1940, as amended (together with the rules and regulations promulgated thereunder, the “1940 Act”), the Company is deemed to “control” a portfolio company if the Company owns more than 25% of its outstanding voting securities and/or holds the power to exercise control over the management or policies of the portfolio company. Under the 1940 Act, the Company is deemed an “affiliated person” of a portfolio company if the Company owns between 5% and 25% (inclusive) of the portfolio company’s outstanding voting securities. For purposes of determining the classification of its investment portfolio, the Company has excluded

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

September 30, 2024

(in thousands)

(Unaudited)

consideration of any voting securities or board appointment rights held by third-party investment funds advised by the Adviser and/or its affiliates. As of September 30, 2024, the Company’s controlled/affiliated and non-controlled/affiliated investments were as follows:


	Fair Value as of December 31, 2023		Gross Additions		Gross Reductions		Change in Unrealized Gains (Loss)		Net Realized Gain (Loss)		Fair Value as of September 30, 2024		Dividend and Interest Income
Non-Controlled/Affiliated Investments
Southern Graphics Inc.	$	9,947	$	—	$	(172)	$	470	$	—	$	10,245	$	—
SLF V AD1 Holdings, LLC	9,877		—		—		(65)		—		9,812		—
Total Non-Controlled/Affiliated Investments	$	19,824	$	—	$	(172)	$	405	$	—	$	20,057	$	—
Controlled/Affiliated Investments
ULTRA III, LLC	$	124,003	$	144,345	$	(4,579)	$	20,685	$	—	$	284,454	$	16,061
Total Controlled/Affiliated Investments	$	124,003	$	144,345	$	(4,579)	$	20,685	$	—	$	284,454	$	16,061

(20)These investments are not pledged as collateral under the Credit Facilities, 2023 CLO Secured Notes and/or 2024 CLO Secured Notes.

ADDITIONAL INFORMATION

Foreign currency forward contracts:

Currency Purchased

Currency Sold

Counterparty

Settlement Date

Unrealized Appreciation (Depreciation)

U.S. Dollars 159

Euro 144

Goldman Sachs Bank USA

6/23/2025

(3)

U.S. Dollars 2,545

Euro 2,215

Goldman Sachs Bank USA

3/23/2026

U.S. Dollars 188,396

Euro 173,334

Goldman Sachs Bank USA

12/23/2024

(5,239)

U.S. Dollars 764

British Pound 620

Goldman Sachs Bank USA

6/23/2025

(63)

U.S. Dollars 2,601

British Pound 2,109

Goldman Sachs Bank USA

3/21/2025

(215)

U.S. Dollars 14,415

British Pound 12,094

Goldman Sachs Bank USA

12/23/2024

(1,754)

U.S. Dollars 34,250

Singaporean Dollars 45,400

Goldman Sachs Bank USA

12/23/2024

(1,219)

U.S. Dollars 101,171

Euro 89,721

SMBC Capital Markets, Inc.

9/23/2025

(92)

U.S. Dollars 50,229

Euro 45,512

SMBC Capital Markets, Inc.

3/21/2025

(776)

U.S. Dollars 107,880

Euro 96,430

SMBC Capital Markets, Inc.

6/23/2025

(574)

U.S. Dollars 388,328

British Pound 304,947

SMBC Capital Markets, Inc.

12/23/2024

(19,365)

U.S. Dollars 311,587

Euro 286,515

SMBC Capital Markets, Inc.

12/23/2024

(8,485)

U.S. Dollars 40,763

Canadian Dollars 55,579

SMBC Capital Markets, Inc.

12/23/2024

(415)

U.S. Dollars 114,745

Australian Dollars 169,912

SMBC Capital Markets, Inc.

12/23/2024

(2,828)

U.S. Dollars 22,142

Australian Dollars 32,855

SMBC Capital Markets, Inc.

6/23/2025

(564)

U.S. Dollars 1,449

Norwegian Krone 15,354

SMBC Capital Markets, Inc.

12/23/2024

(7)

U.S. Dollars 25,354

Norwegian Krone 268,633

SMBC Capital Markets, Inc.

6/23/2025

(89)

U.S. Dollars 2,356

Swedish Kroner 24,106

SMBC Capital Markets, Inc.

12/23/2024

U.S. Dollars 41,564

Swedish Kroner 421,754

SMBC Capital Markets, Inc.

6/23/2025

Total

(41,614)

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

September 30, 2024

(in thousands)

(Unaudited)

Interest rate swaps:


Counterparty	Hedged Instrument	Company Receives	Company Pays	Maturity Date	Notional Amount		Fair Market Value
Goldman Sachs Bank USA	November 2025 Notes	8.37%	SOFR + 4.08%	11/14/2025	$	85,000	$	(21)
Goldman Sachs Bank USA	November 2027 Notes	8.43%	SOFR + 4.42%	11/14/2027	77,500		940
Goldman Sachs Bank USA	March 2026 Notes	8.12%	SOFR + 3.76%	3/15/2026	276,000		2,355
Goldman Sachs Bank USA	March 2028 Notes	8.18%	SOFR + 4.24%	3/15/2028	124,000		1,985
Goldman Sachs Bank USA	September 2027 Notes	8.67%	SOFR + 4.31%	9/14/2027	75,000		1,857
Goldman Sachs Bank USA	September 2028 Notes	8.80%	SOFR + 4.54%	9/14/2028	250,000		7,608
SMBC Capital Markets, Inc.	January 2029 Notes	6.75%	SOFR + 2.88%	1/30/2029	550,000		9,417
Goldman Sachs Bank USA	September 2029 Notes	6.25%	SOFR + 2.06%	9/30/2029	400,000		13,722
Total Interest Rate Swaps							$	37,863

The accompanying notes are an integral part of these consolidated financial statements.

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

December 31, 2023

(in thousands)


Company (1)	Reference Rate and Spread (2)		Interest Rate (2)		Maturity Date	Par Amount/Units			Amortized Cost (3)		Fair Value		Percentage of Net Assets
First Lien Debt
First Lien Debt - Non-Controlled/Non-Affiliated
Aerospace and Defense
Arcfield Acquisition Corp (4)(6)(9)					8/4/2028	$	5,687		$	(89)	$	(228)
Arcfield Acquisition Corp (4)(9)	SF +	6.25%	11.64	%	8/3/2029	48,883			48,042		46,696
Asdam Operations Pty Ltd (4)(5)(8)	B +	5.75%	10.11	%	8/22/2028	A$	3,614		2,415		2,374
Asdam Operations Pty Ltd (4)(5)(6)(8)					8/22/2028	A$	5,421		(93)		(132)
Asdam Operations Pty Ltd (4)(5)(8)	B +	5.75%	10.11	%	8/22/2028	A$	41,558		27,867		27,304
Cadence - Southwick, Inc. (4)(6)(10)	SF +	6.75%	12.22	%	5/3/2028	11,291			2,717		2,852
Cadence - Southwick, Inc. (4)(10)	SF +	6.75%	12.24	%	5/3/2029	41,529			40,408		40,998
Cadence - Southwick, Inc. (4)(10)	SF +	6.00%	11.47	%	5/3/2029	3,120			3,058		3,058
Frontgrade Technologies Holdings Inc. (4)(6)(9)					1/10/2028	6,864			(152)		(94)
Frontgrade Technologies Holdings Inc. (4)(9)	SF +	6.75%	12.10	%	1/9/2030	37,429			36,451		36,988
Frontgrade Technologies Holdings Inc. (4)(9)	SF +	6.75%	12.10	%	1/9/2030	7,880			7,732		7,787
Sequa Corp (4)(6)(10)					11/23/2027	13,676			(542)		(135)
Sequa Corp (4)(10)	SF +	7.00%	12.37	%	11/24/2028	127,027			121,623		125,770
WP CPP Holdings, LLC (4)(6)(10)					11/30/2029	26,285			(648)		(648)
WP CPP Holdings, LLC (4)(10)	SF +	7.50% (incl 4.13% PIK)	12.88	%	11/30/2029	187,888			183,258		183,255
									472,047		475,845		9.18	%
Alternative Energy
Braya Renewable Fuels (Newfoundland) LP (4)(5)(15)	SF +	6.50%	11.95	%	11/9/2026	17,091			16,765		16,765
Braya Renewable Fuels (Newfoundland) LP (4)(5)(6)(15)					11/9/2026	1,139			(22)		(22)
									16,743		16,743		0.32	%
Asset Based Lending and Fund Finance
CRSS HPS LLC (4)(5)(10)	SF +	6.75%	12.21	%	12/21/2026	21,772			21,341		21,341
									21,341		21,341		0.41	%
Automobiles and Parts
Clarios Global LP (7)	SF +	3.75%	9.11	%	5/6/2030	14,963			14,886		15,015
Foundation Automotive Us Corp (4)(10)	SF +	7.75%	13.41	%	12/24/2027	4,300			4,249		3,865
Foundation Automotive Corp (4)(5)(10)	SF +	7.75%	13.36	%	12/24/2027	13,689			13,536		12,306
Foundation Automotive Us Corp (4)(10)	SF +	7.75%	13.36	%	12/24/2027	33,889			33,514		30,466
Oil Changer Holding Corporation (4)(10)	SF +	6.75%	12.27	%	2/8/2027	40,597			40,326		40,234
Oil Changer Holding Corporation (4)(10)	SF +	6.75%	12.27	%	2/8/2027	8,523			8,468		8,447
Tenneco Inc (8)	SF +	4.75%	10.22	%	11/17/2028	2,992			2,424		2,624
									117,403		112,957		2.18	%
Chemicals
Illuminate Buyer, LLC (7)	SF +	3.50%	8.97	%	6/30/2027	15,111			14,972		15,157
									14,972		15,157		0.29	%
Construction and Materials
Esdec Solar Group B.V. (4)(5)(6)(8)					8/30/2028	€	17,183		(361)		(164)
Esdec Solar Group B.V. (4)(5)(8)	E +	6.00%	9.97	%	8/30/2028	€	51,420		55,215		56,271
Nexus Intermediate III, LLC (4)(6)(9)					12/6/2027	300			(3)		—
Nexus Intermediate III, LLC (4)(9)	SF +	5.50%	11.36	%	12/6/2027	1,064			1,051		1,064
									55,902		57,171		1.10	%
Consumer Services
AI Learning (Singapore) PTE. LTD. (4)(5)(12)	SORA +	8.25% (incl 4.00% PIK)	11.70	%	5/25/2027	44,063		S$	31,713		32,862
American Academy Holdings, LLC (4)(10)	SF +	11.00% (incl 5.25% PIK)	16.47	%	1/2/2025	54,019			54,019		53,914
Auctane Inc (4)(9)	SF +	5.75%	11.23	%	10/5/2028	24,563			24,563		24,478
Club Car Wash Operating, LLC (4)(6)(10)	SF +	6.50%	12.00	%	6/16/2027	40,289			25,670		26,066
Club Car Wash Operating, LLC (4)(10)	SF +	6.50%	12.00	%	6/16/2027	12,958			12,762		12,879

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

December 31, 2023

(in thousands)


Company (1)	Reference Rate and Spread (2)		Interest Rate (2)		Maturity Date	Par Amount/Units	Amortized Cost (3)	Fair Value	Percentage of Net Assets
Club Car Wash Operating, LLC (4)(10)	SF +	6.50%	12.00	%	6/16/2027	26,517	26,248	26,355
Ensemble RCM LLC (7)	SF +	3.75%	9.23	%	8/3/2026	1,979	1,974	1,985
Express Wash Concepts (4)(10)	SF +	6.00%	11.46	%	4/30/2027	47,227	46,908	46,662
Express Wash Concepts (4)(10)	SF +	6.00%	11.46	%	4/30/2027	26,528	26,344	26,210
Houghton Mifflin Harcourt Company (8)	SF +	5.25%	10.71	%	4/9/2029	25,250	24,650	24,831
IXM Holdings, Inc. (4)(11)	SF +	6.50%	11.86	%	12/14/2029	18,566	18,289	18,289
IXM Holdings, Inc. (4)(6)(11)					12/14/2029	1,638	(25)	(24)
IXM Holdings, Inc.(4)(6)(11)	SF +	6.50%	11.86	%	12/14/2029	2,184	568	568
Learning Care Group, Inc. (8)	SF +	4.75%	10.14	%	8/11/2028	1,995	1,967	2,010
Mckissock Investment Holdings, LLC (9)	SF +	5.00%	10.38	%	3/12/2029	46,800	45,651	46,859
Mckissock Investment Holdings, LLC (9)	SF +	5.00%	10.54	%	3/12/2029	12,517	12,420	12,533
PECF USS Intermediate Holding III Corporation (8)	SF +	4.25%	9.89	%	12/15/2028	14,712	14,645	11,558
Polyconcept North America Holdings, Inc. (9)	SF +	5.50%	10.85	%	5/18/2029	23,009	22,638	22,846
Spotless Brands, LLC (4)(10)	SF +	6.50%	12.02	%	7/25/2028	21,593	21,260	21,670
Spotless Brands, LLC (4)(10)	SF +	6.50%	12.03	%	7/25/2028	16,023	15,777	16,080
Spotless Brands, LLC (4)(10)	SF +	6.50%	12.03	%	7/25/2028	105,600	103,951	105,979
Spotless Brands, LLC (4)(6)(10)	SF +	6.50%	11.96	%	7/25/2028	5,175	1,040	1,118
Thrasio LLC (4)(7)(16)	SF +	7.00%			12/18/2026	2,912	2,903	1,715
Trugreen Limited Partnership (9)	SF +	4.00%	9.46	%	11/2/2027	8,575	8,488	8,298
WMB Holdings Inc (8)	SF +	3.25%	8.71	%	11/2/2029	1,889	1,841	1,896
Zips Car Wash, LLC (4)(10)	SF +	7.25%	12.71	%	3/1/2024	26,027	26,025	25,942
Zips Car Wash, LLC (4)(10)	SF +	7.25%	12.71	%	3/1/2024	15,336	15,308	15,286
Zips Car Wash, LLC (4)(10)	SF +	7.25%	12.71	%	3/1/2024	984	984	981
							588,581	589,846	11.38	%
Electricity
Hamilton Projects Acquiror, LLC (9)	SF +	4.50%	9.97	%	6/17/2027	55,588	51,772	55,914
IP Operating Portfolio I, LLC (4)(7)			7.88	%	12/31/2029	27,428	26,919	27,154
							78,691	83,068	1.60	%
Electronic and Electrical Equipment
Brightstar Escrow Corp. (7)			9.75	%	10/15/2025	1,000	989	1,015
							989	1,015	0.02	%
Finance and Credit Services
PCP CW Aggregator Holdings II, L.P. (4)(5)(10)	L +	9.25% PIK	14.69	%	2/9/2027	19,395	19,164	19,032
Verscend Holding Corp. (7)	SF +	4.00%	9.47	%	8/27/2025	3,939	3,928	3,957
Yes Energy LLC (4)(9)	BS +	5.00%	10.46	%	4/21/2028	10,000	9,836	10,004
Yes Energy LLC (4)(9)	BS +	5.00%	10.46	%	4/21/2028	26,000	25,458	26,010
							58,386	59,003	1.14	%
Food Producers
Specialty Ingredients, LLC (4)(6)(9)	SF +	6.00%	11.46	%	2/12/2029	11,279	5,744	5,805
Specialty Ingredients, LLC (4)(9)	SF +	6.00%	11.46	%	2/12/2029	89,801	88,354	88,876
Sugar PPC Buyer LLC (4)(6)(10)					10/2/2030	16,541	(366)	(359)
Sugar PPC Buyer LLC (4)(10)	SF +	6.00%	11.34	%	10/2/2030	59,546	58,254	58,254
							151,986	152,576	2.94	%
Gas, Water and Multi-utilities
Floating Infrastructure Holdings Finance LLC (4)(5)(10)	SF +	5.75%	11.20	%	8/13/2027	43,439	42,809	42,991
Eagle LNG Partners Jacksonville II LLC (4)(14)	SF +	9.88%	15.22	%	6/8/2024	620	613	613
							43,422	43,604	0.84	%
General Industrials
BP Purchaser, LLC (4)(9)	SF +	5.50%	11.14	%	12/11/2028	27,513	27,108	26,815
Bright Light Buyer, Inc. (4)(10)	SF +	6.00%	11.37	%	11/8/2029	75,000	73,171	73,170
Cube Industrials Buyer, Inc. (4)(6)(10)					10/18/2029	5,664	(82)	(82)
Cube Industrials Buyer, Inc. (4)(10)	SF +	6.00%	11.40	%	10/18/2030	49,086	48,371	48,371

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

December 31, 2023

(in thousands)


Company (1)	Reference Rate and Spread (2)		Interest Rate (2)		Maturity Date	Par Amount/Units		Amortized Cost (3)	Fair Value	Percentage of Net Assets
Formerra, LLC (4)(10)	SF +	7.25%	12.81	%	11/1/2028	4,252		4,136	4,210
Formerra, LLC (4)(6)(10)					11/1/2028	12,031		(315)	(117)
Formerra, LLC (4)(10)	SF +	7.25%	12.78	%	11/1/2028	105,686		102,857	104,660
Marcone Yellowstone Buyer Inc. (4)(13)	SF +	6.25%	11.75	%	6/23/2028	11,952		11,861	11,871
Marcone Yellowstone Buyer Inc. (4)(13)	SF +	6.25%	11.75	%	6/23/2028	49,864		49,282	49,526
Marcone Yellowstone Buyer Inc. (4)(13)	SF +	6.25%	11.75	%	6/23/2028	4,395		4,362	4,365
Marcone Yellowstone Buyer Inc. (4)(13)	SF +	6.25%	11.75	%	6/23/2028	13,228		13,127	13,138
TMC Buyer Inc (8)	SF +	6.00%	11.47	%	6/30/2028	70,148		62,802	69,403
								396,680	405,330	7.82	%
Health Care Providers
123Dentist Inc (4)(5)(6)(9)					8/10/2029	$	7,211	(101)	(55)
123Dentist Inc (4)(5)(9)	C +	5.50%	10.94	%	8/10/2029	$	50,116	38,465	37,435
Accelerated Health Systems, LLC (8)	SF +	4.25%	9.75	%	2/15/2029	7,951		7,935	6,722
ATI Holdings Acquisition, Inc. (4)(5)(10)	SF +	7.25%	12.73	%	2/24/2028	41,092		40,516	38,936
Baart Programs, Inc. (4)(10)	SF +	5.00%	10.61	%	6/11/2027	10,123		10,055	9,809
Charlotte Buyer Inc (8)	SF +	5.25%	10.61	%	2/11/2028	28,560		27,129	28,714
ERC Topco Holdings, LLC (4)(6)(9)	SF +	6.25% (incl 3.25% PIK)	11.91	%	11/10/2027	1,000		420	304
ERC Topco Holdings, LLC (4)(9)	SF +	6.25% (incl 3.25% PIK)	11.86	%	11/10/2028	25,291		24,931	21,444
ERC Topco Holdings, LLC (4)(9)	SF +	6.25% PIK	11.86	%	11/10/2028	203		203	172
MB2 Dental Solutions, LLC (4)(10)	SF +	6.00%	11.46	%	1/29/2027	9,108		8,979	9,052
MB2 Dental Solutions, LLC (4)(10)	SF +	6.00%	11.46	%	1/29/2027	86,591		85,394	86,054
MB2 Dental Solutions, LLC (4)(10)	SF +	6.00%	11.46	%	1/29/2027	34,429		33,987	34,216
MB2 Dental Solutions, LLC (4)(6)(10)	SF +	6.50%	11.96	%	1/29/2027	12,490		8,177	8,448
MB2 Dental Solutions, LLC (4)(10)	SF +	6.00%	11.46	%	1/29/2027	68,490		67,136	67,812
Medline Borrower, LP (8)	SF +	3.00%	8.47	%	10/23/2028	19,648		19,482	19,769
MPH Acquisition Holdings LLC (8)	SF +	4.25%	9.90	%	9/1/2028	4,586		4,491	4,434
Pareto Health Intermediate Holdings, Inc. (4)(10)	SF +	6.50%	11.97	%	6/3/2030	30,166		29,336	29,744
Pareto Health Intermediate Holdings, Inc. (4)(10)	SF +	6.50%	11.97	%	6/3/2030	10,055		9,779	9,915
Pareto Health Intermediate Holdings, Inc. (4)(6)(10)					6/1/2029	4,032		(109)	(61)
Pediatric Associates Holding Company, LLC (8)	SF +	3.25%	8.72	%	12/29/2028	7,717		7,690	7,486
Phoenix Newco Inc (8)	SF +	3.25%	8.72	%	11/15/2028	17,567		17,469	17,692
Pinnacle Fertility, Inc. (4)(6)(9)	SF +	5.00%	10.43	%	3/14/2028	12,383		9,078	9,184
Pinnacle Fertility, Inc. (4)(9)	SF +	5.00%	10.43	%	3/14/2028	27,019		26,626	26,857
PPV Intermediate Holdings, LLC (4)(9)	SF +	5.75%	11.14	%	8/31/2029	108,193		106,567	107,507
PPV Intermediate Holdings, LLC (4)(6)(9)					8/31/2029	8,145		(132)	(52)
PTSH Intermediate Holdings, LLC (4)(9)	SF +	5.50%	11.00	%	12/17/2027	3,941		3,882	3,941
PTSH Intermediate Holdings, LLC (4)(9)	SF +	5.50%	11.00	%	12/17/2027	20,679		20,392	20,679
Tenet Healthcare Corp (5)(7)			5.13	%	11/1/2027	2,695		2,724	2,636
Tivity Health Inc (4)(9)	SF +	6.00%	11.35	%	6/28/2029	111,153		108,949	108,628
United Musculoskeletal Partners Acquisition Holdings, LLC (4)(6)(9)	SF +	5.75%	11.13	%	7/17/2028	50,181		32,006	31,265
United Musculoskeletal Partners Acquisition Holdings, LLC (4)(9)	SF +	5.75%	11.16	%	7/17/2028	26,548		26,150	25,732
United Musculoskeletal Partners Acquisition Holdings, LLC (4)(9)	SF +	5.75%	11.15	%	7/17/2028	43,290		42,610	41,959
WCAS XIII Primary Care Investors, L.P. (4)(10)	SF +	6.25%	11.61	%	12/31/2029	135,630		133,289	134,827
								953,505	951,205	18.34	%
Household Goods and Home Construction
LHS Borrower, LLC (8)	SF +	4.75%	10.21	%	2/16/2029	6,948		6,896	6,301
Sunset Debt Merger Sub, Inc. (9)	SF +	4.00%	9.47	%	10/6/2028	707		609	636
								7,505	6,937	0.13	%
Industrial Engineering

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

December 31, 2023

(in thousands)


Company (1)	Reference Rate and Spread (2)		Interest Rate (2)		Maturity Date	Par Amount/Units		Amortized Cost (3)	Fair Value	Percentage of Net Assets
Emerson Climate Technologies Inc (7)	SF +	3.00%	8.36	%	5/31/2030	13,957		13,851	14,023
LSF12 Donnelly Bidco, LLC (4)(10)	SF +	6.50%	11.86	%	10/2/2029	19,878		19,401	19,401
Radwell Parent, LLC (4)(6)(9)	SF +	6.75%	12.10	%	4/3/2028	13,271		2,390	2,654
Radwell Parent, LLC (4)(9)	SF +	6.75%	12.10	%	4/2/2029	153,824		149,966	156,200
Roper Industrial Products Investment Co (8)	SF +	4.00%	9.35	%	11/22/2029	18,044		17,488	18,106
Standard Industries, Inc. (8)	SF +	2.25%	7.72	%	9/22/2028	1,264		1,264	1,268
Time Manufacturing Holdings, LLC (4)(9)	E +	6.50%	10.46	%	12/1/2027	€	4,758	4,943	4,975
Time Manufacturing Holdings, LLC (4)(6)(9)	SF +	6.50%	12.04	%	12/1/2027	1,000		713	678
Time Manufacturing Holdings, LLC (4)(9)	SF +	6.50%	12.04	%	12/1/2027	12,081		11,902	11,481
Time Manufacturing Holdings, LLC (4)(9)	E +	6.50%	10.46	%	12/1/2027	€	8,380	9,333	8,762
TK Elevator U.S. Newco, Inc. (5)(8)	SF +	3.50%	9.38	%	7/30/2027	12,573		12,439	12,617
Wec US Holdings Ltd (8)	SF +	3.75%	9.11	%	8/1/2025	3,955		3,925	3,973
								247,615	254,138	4.90	%
Industrial Metals and Mining
BLY US Holdings Inc. (4)(5)(10)	SF +	7.50%	13.12	%	9/8/2026	3,060		3,006	2,986
BLY US Holdings Inc. (4)(5)(10)	SF +	7.50%	13.12	%	9/8/2026	9,130		8,881	8,909
								11,887	11,895	0.23	%
Industrial Support Services
Acuris Finance US, Inc (8)	SF +	4.00%	9.50	%	2/16/2028	13,500		13,408	13,515
Allied Universal Holdco LLC (8)	SF +	3.75%	9.21	%	5/12/2028	3,001		2,993	2,993
Argos Health Holdings, Inc. (4)(9)	SF +	5.75%	11.15	%	12/6/2027	653		644	629
Atlas Intermediate III, L.L.C. (4)(10)	SF +	8.25% (incl 4.00% PIK)	13.63	%	10/31/2029	112,091		109,368	109,368
Atlas Intermediate III, L.L.C. (4)(6)(10)					10/31/2029	13,445		(327)	(327)
Becklar, LLC (4)(10)	SF +	6.85%	12.30	%	12/21/2026	986		974	978
Becklar, LLC (4)(10)	SF +	6.85%	12.30	%	12/21/2026	5,725		5,644	5,676
Captive Resources Midco LLC (4)(6)(9)					7/3/2028	7,558		(113)	—
Captive Resources Midco LLC (4)(9)	SF +	5.75% (incl 3.13% PIK)	11.10	%	7/2/2029	93,197		91,762	94,129
CD&R Madison UK Bidco LTD (4)(5)(6)(7)	SN +	8.25%	13.47	%	2/28/2030	£	9,965	2,252	2,394
CD&R Madison UK Bidco LTD (4)(5)(7)	SN +	8.25% (incl 2.00% PIK)	13.48	%	2/28/2030	£	45,394	53,009	56,599
CD&R Madison UK Bidco LTD (4)(5)(7)	E +	7.75% (incl 2.00% PIK)	11.71	%	2/28/2030	€	22,377	22,902	24,093
Coretrust Purchasing Group LLC (4)(6)(9)					10/1/2029	10,736		(279)	58
Coretrust Purchasing Group LLC (4)(6)(9)					10/1/2029	11,656		(287)	—
Coretrust Purchasing Group LLC (4)(9)	SF +	6.75%	12.11	%	10/1/2029	72,983		71,143	73,375
Eagle 2021 Lower Merger Sub, LLC (4)(9)	SF +	5.75%	11.15	%	12/6/2027	817		806	786
Employbridge, LLC (9)	SF +	4.75%	10.41	%	7/19/2028	9,807		9,765	8,099
Galaxy US Opco Inc. (5)(8)	SF +	4.75%	10.13	%	4/29/2029	26,037		25,520	21,611
Guidehouse Inc. (4)(9)	SF +	5.75% (incl 2.00% PIK)	11.11	%	12/16/2030	186,435		183,869	184,120
IG Investments Holdings, LLC (4)(6)(9)					9/22/2027	1,726		(18)	(12)
IG Investments Holdings, LLC (4)(9)	SF +	6.00%	11.48	%	9/22/2028	22,278		22,019	22,129
IG Investments Holdings, LLC (4)(9)	SF +	6.00%	11.48	%	9/22/2028	1,837		1,824	1,825
NBG Acquisition Corp. (4)(6)(9)	SF +	5.25%	10.78	%	11/6/2028	2,876		1,837	1,792
NBG Acquisition Corp. (4)(9)	SF +	5.25%	10.78	%	11/6/2028	21,336		21,222	20,856
Planet US Buyer LLC (4)(6)(9)					2/1/2028	8,024		(197)	(148)
Planet US Buyer LLC (4)(9)	SF +	6.75%	12.13	%	2/1/2030	83,233		81,061	81,744
Royal Buyer, LLC (4)(6)(9)	SF +	5.50%	10.89	%	8/31/2028	8,993		5,090	5,326
Royal Buyer, LLC (4)(6)(9)	SF +	5.50%	10.89	%	8/31/2028	7,000		1,525	1,633
Royal Buyer, LLC (4)(9)	SF +	5.50%	10.89	%	8/31/2028	44,550		43,839	44,996
Sedgwick Claims Management Services, Inc. (7)	SF +	3.75%	9.11	%	2/24/2028	19,205		19,048	19,288
Simplisafe Holding Corporation (4)(6)(9)	SF +	6.25%	11.61	%	5/2/2028	15,086		3,775	3,912

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

December 31, 2023

(in thousands)


Company (1)	Reference Rate and Spread (2)		Interest Rate (2)		Maturity Date	Par Amount/Units		Amortized Cost (3)	Fair Value	Percentage of Net Assets
Simplisafe Holding Corporation (4)(9)	SF +	6.25%	11.61	%	5/2/2028	119,039		117,275	118,277
Spirit RR Holdings, Inc. (4)(6)(9)	SF +	5.25%	10.71	%	9/13/2028	3,579		299	308
Spirit RR Holdings, Inc. (4)(9)	SF +	5.25%	10.70	%	9/13/2028	43,103		42,361	42,508
Spirit RR Holdings, Inc. (4)(6)(9)					9/13/2028	5,986		(89)	(83)
TruckPro, LLC (4)(12)	SF +	7.25%	12.94	%	8/16/2028	70,533		68,576	69,207
Vaco Holdings, LLC (9)	SF +	5.00%	10.43	%	1/21/2029	12,495		12,452	12,362
								1,034,952	1,044,016	20.13	%
Industrial Transportation
E.S.G. Movilidad, S.L.U. (4)(5)(6)(7)					5/31/2029	€	11,245	(299)	(86)
E.S.G. Movilidad, S.L.U. (4)(5)(7)	E +	6.50%	10.53	%	5/31/2029	€	8,096	8,484	8,875
E.S.G. Movilidad, S.L.U. (4)(5)(7)	E +	6.50%	10.53	%	5/31/2029	€	22,264	23,330	24,407
								31,515	33,196	0.64	%
Investment Banking and Brokerage Services
Apex Group Treasury LLC (4)(5)(8)	SF +	5.00%	10.40	%	7/27/2028	6,982		6,881	6,974
Ascensus Holdings, Inc. (8)	SF +	3.50%	8.97	%	8/2/2028	7,643		7,581	7,638
Eisner Advisory Group LLC (9)	SF +	5.25%	10.72	%	7/28/2028	4,451		4,433	4,466
Eisner Advisory Group LLC (9)	SF +	5.25%	10.72	%	7/28/2028	2,526		2,526	2,535
More Cowbell II, LLC (4)(6)(9)					9/3/2030	5,484		(108)	(111)
More Cowbell II, LLC (4)(6)(9)	SF +	6.00%	11.39	%	9/4/2029	7,590

Form: 10-Q

Documents