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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________________________________________
FORM 10-Q
_____________________________________________________
(Mark One)
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QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended September 30, 2024
OR
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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)
________________________________________________________________________________________________
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Delaware |
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87-6391045 |
(State or other jurisdiction of incorporation or organization) |
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(I.R.S. Employer Identification No.) |
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40 West 57th Street, 33rd Floor
New York, NY
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10019 |
(Address of principal executive offices) |
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(Zip Code) |
Registrant’s telephone number, including area code: (212) 287-6767
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class |
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Trading Symbol(s) |
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Name of each exchange on which registered |
None |
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None |
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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:
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Large accelerated filer |
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Accelerated filer |
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Non-accelerated filer |
x |
Smaller reporting company |
o |
Emerging growth company |
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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.
Table of Contents
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”).
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)
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September 30, 2024 |
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December 31, 2023 |
ASSETS |
(Unaudited) |
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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.
2
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.
3
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.
4
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.
5
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.
6
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.
7
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 |
|
|
|
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 |
|
|
|
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 |
|
|
|
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) |
|
|
|
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 |
|
|
|
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 |
% |
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 |
|
|
|
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 |
|
|
|
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 |
|
|
|
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 |
|
|
|
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 |
|
|
|
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 |
% |
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
% |
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 |
|
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) |
|
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 |
|
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
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 |
|
28 |
|
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 |
|
1 |
|
U.S. Dollars 41,564 |
|
Swedish Kroner 421,754 |
|
SMBC Capital Markets, Inc. |
|
6/23/2025 |
|
45 |
|
Total |
|
|
|
|
|
|
|
$ |
(41,614) |
|
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.
27
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 |
|
|
|
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 |
|
|
|
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|
|
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 |
|