Price Graph
Price
Yield
These terms and conditions govern your use of the website alphaminr.com and its related services.
These Terms and Conditions (“Terms”) are a binding contract between you and Alphaminr, (“Alphaminr”, “we”, “us” and “service”). You must agree to and accept the Terms. These Terms include the provisions in this document as well as those in the Privacy Policy. These terms may be modified at any time.
Your subscription will be on a month to month basis and automatically renew every month. You may terminate your subscription at any time through your account.
We will provide you with advance notice of any change in fees.
You represent that you are of legal age to form a binding contract. You are responsible for any
activity associated with your account. The account can be logged in at only one computer at a
time.
The Services are intended for your own individual use. You shall only use the Services in a
manner that complies with all laws. You may not use any automated software, spider or system to
scrape data from Alphaminr.
Alphaminr is not a financial advisor and does not provide financial advice of any kind. The service is provided “As is”. The materials and information accessible through the Service are solely for informational purposes. While we strive to provide good information and data, we make no guarantee or warranty as to its accuracy.
TO THE EXTENT PERMITTED BY APPLICABLE LAW, UNDER NO CIRCUMSTANCES SHALL ALPHAMINR BE LIABLE TO YOU FOR DAMAGES OF ANY KIND, INCLUDING DAMAGES FOR INVESTMENT LOSSES, LOSS OF DATA, OR ACCURACY OF DATA, OR FOR ANY AMOUNT, IN THE AGGREGATE, IN EXCESS OF THE GREATER OF (1) FIFTY DOLLARS OR (2) THE AMOUNTS PAID BY YOU TO ALPHAMINR IN THE SIX MONTH PERIOD PRECEDING THIS APPLICABLE CLAIM. SOME STATES DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL OR CERTAIN OTHER DAMAGES, SO THE ABOVE LIMITATION AND EXCLUSIONS MAY NOT APPLY TO YOU.
If any provision of these Terms is found to be invalid under any applicable law, such provision shall not affect the validity or enforceability of the remaining provisions herein.
This privacy policy describes how we (“Alphaminr”) collect, use, share and protect your personal information when we provide our service (“Service”). This Privacy Policy explains how information is collected about you either directly or indirectly. By using our service, you acknowledge the terms of this Privacy Notice. If you do not agree to the terms of this Privacy Policy, please do not use our Service. You should contact us if you have questions about it. We may modify this Privacy Policy periodically.
When you register for our Service, we collect information from you such as your name, email address and credit card information.
Like many other websites we use “cookies”, which are small text files that are stored on your computer or other device that record your preferences and actions, including how you use the website. You can set your browser or device to refuse all cookies or to alert you when a cookie is being sent. If you delete your cookies, if you opt-out from cookies, some Services may not function properly. We collect information when you use our Service. This includes which pages you visit.
We use Google Analytics and we use Stripe for payment processing. We will not share the information we collect with third parties for promotional purposes. We may share personal information with law enforcement as required or permitted by law.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
þ
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
|
|
|
|
|
OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
|
|
¨
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
|
|
|
|
|
OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
|
|
|
|
|
DELAWARE
|
|
26-1219283
|
|
(State or jurisdiction of
incorporation or organization)
|
|
(I.R.S. Employer
Identification No.)
|
|
|
|
|
|
777 West Putnam Avenue, 3rd Floor
Greenwich, CT
|
|
06830
|
|
(Address of principal executive office)
|
|
(Zip Code)
|
|
Large accelerated filer
þ
|
|
Accelerated filer
¨
|
|
Non-accelerated filer
¨
|
|
Smaller reporting company
¨
|
|
|
|
|
|
(Do not check if a smaller reporting company)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
||
|
|
|
||
|
|
|
||
|
|
|
||
|
|
|
||
|
|
|
||
|
|
|
||
|
|
|
|
|
|
Item 5.
|
|||
|
Item 1.
|
Consolidated Financial Statements.
|
|
|
June 30,
2014 |
|
September 30,
2013 |
||||
|
ASSETS
|
|
|
|
||||
|
Investments at fair value:
|
|
|
|
||||
|
Control investments (cost June 30, 2014: $295,813; cost September 30, 2013: $207,518)
|
$
|
308,307
|
|
|
$
|
215,502
|
|
|
Affiliate investments (cost June 30, 2014: $38,497; cost September 30, 2013: $29,807)
|
41,274
|
|
|
31,932
|
|
||
|
Non-control/Non-affiliate investments (cost June 30, 2014: $2,282,099; cost September 30, 2013: $1,622,326)
|
2,278,236
|
|
|
1,645,612
|
|
||
|
Total investments at fair value (cost June 30, 2014: $2,616,409; cost September 30, 2013: $1,859,651)
|
2,627,817
|
|
|
1,893,046
|
|
||
|
Cash and cash equivalents
|
74,661
|
|
|
147,359
|
|
||
|
Interest and fees receivable
|
17,503
|
|
|
10,379
|
|
||
|
Due from portfolio company
|
1,927
|
|
|
1,814
|
|
||
|
Deferred financing costs
|
21,167
|
|
|
19,548
|
|
||
|
Other assets
|
621
|
|
|
187
|
|
||
|
Total assets
|
$
|
2,743,696
|
|
|
$
|
2,072,333
|
|
|
|
|
|
|
||||
|
LIABILITIES AND NET ASSETS
|
|
|
|
||||
|
Liabilities:
|
|
|
|
||||
|
Accounts payable, accrued expenses and other liabilities
|
$
|
3,927
|
|
|
$
|
1,166
|
|
|
Base management fee payable
|
13,116
|
|
|
9,625
|
|
||
|
Part I incentive fee payable
|
8,609
|
|
|
7,175
|
|
||
|
Due to FSC CT, Inc.
|
2,214
|
|
|
840
|
|
||
|
Interest payable
|
12,219
|
|
|
2,939
|
|
||
|
Payables from unsettled transactions
|
10,000
|
|
|
35,716
|
|
||
|
Amounts payable to syndication partners
|
4,193
|
|
|
—
|
|
||
|
Advances received from portfolio companies
|
7,233
|
|
|
—
|
|
||
|
Credit facilities payable
|
535,181
|
|
|
188,000
|
|
||
|
SBA debentures payable
|
225,000
|
|
|
181,750
|
|
||
|
Unsecured convertible notes payable
|
115,000
|
|
|
115,000
|
|
||
|
Unsecured notes payable
|
409,878
|
|
|
161,250
|
|
||
|
Secured borrowings at fair value (proceeds of $45,750 and $0 at June 30, 2014 and September 30, 2013, respectively)
|
45,805
|
|
|
—
|
|
||
|
Total liabilities
|
1,392,375
|
|
|
703,461
|
|
||
|
Commitments and contingencies (Note 3)
|
|
|
|
||||
|
Net assets:
|
|
|
|
||||
|
Common stock, $0.01 par value, 250,000 shares authorized; 139,189 and 139,041 shares issued and outstanding at June 30, 2014 and September 30, 2013, respectively
|
1,391
|
|
|
1,390
|
|
||
|
Additional paid-in-capital
|
1,511,055
|
|
|
1,509,546
|
|
||
|
Net unrealized appreciation on investments and net unrealized depreciation on secured borrowings
|
11,353
|
|
|
33,395
|
|
||
|
Net realized loss on investments and interest rate swap
|
(153,571
|
)
|
|
(154,591
|
)
|
||
|
Accumulated overdistributed net investment income
|
(18,907
|
)
|
|
(20,868
|
)
|
||
|
Total net assets (equivalent to $9.71 and $9.85 per common share at June 30, 2014 and September 30, 2013, respectively) (Note 12)
|
1,351,321
|
|
|
1,368,872
|
|
||
|
Total liabilities and net assets
|
$
|
2,743,696
|
|
|
$
|
2,072,333
|
|
|
|
|
|
|
||||
|
|
Three months
ended June 30, 2014 |
|
Three months
ended June 30, 2013 |
|
Nine months
ended June 30, 2014 |
|
Nine months
ended June 30, 2013 |
|
||||||||
|
Interest income:
|
|
|
|
|
|
|
|
|
||||||||
|
Control investments
|
$
|
3,741
|
|
|
$
|
1,279
|
|
|
$
|
9,354
|
|
|
$
|
3,037
|
|
|
|
Affiliate investments
|
1,108
|
|
|
741
|
|
|
2,971
|
|
|
2,050
|
|
|
||||
|
Non-control/Non-affiliate investments
|
53,248
|
|
|
40,356
|
|
|
148,242
|
|
|
109,829
|
|
|
||||
|
Interest on cash and cash equivalents
|
3
|
|
|
6
|
|
|
9
|
|
|
15
|
|
|
||||
|
Total interest income
|
58,100
|
|
|
42,382
|
|
|
160,576
|
|
|
114,931
|
|
|
||||
|
PIK interest income:
|
|
|
|
|
|
|
|
|
||||||||
|
Control investments
|
2,563
|
|
|
719
|
|
|
7,513
|
|
|
936
|
|
|
||||
|
Affiliate investments
|
211
|
|
|
316
|
|
|
752
|
|
|
1,080
|
|
|
||||
|
Non-control/Non-affiliate investments
|
3,523
|
|
|
3,009
|
|
|
9,115
|
|
|
9,795
|
|
|
||||
|
Total PIK interest income
|
6,297
|
|
|
4,044
|
|
|
17,380
|
|
|
11,811
|
|
|
||||
|
Fee income:
|
|
|
|
|
|
|
|
|
||||||||
|
Control investments
|
1,536
|
|
|
3,379
|
|
|
4,070
|
|
|
3,592
|
|
|
||||
|
Affiliate investments
|
12
|
|
|
12
|
|
|
194
|
|
|
36
|
|
|
||||
|
Non-control/Non-affiliate investments
|
8,135
|
|
|
7,656
|
|
|
35,044
|
|
|
32,138
|
|
|
||||
|
Total fee income
|
9,683
|
|
|
11,047
|
|
|
39,308
|
|
|
35,766
|
|
|
||||
|
Dividend and other income:
|
|
|
|
|
|
|
|
|
||||||||
|
Non-control/Non-affiliate investments
|
194
|
|
|
577
|
|
|
471
|
|
|
2,012
|
|
|
||||
|
Total dividend and other income
|
194
|
|
|
577
|
|
|
471
|
|
|
2,012
|
|
|
||||
|
Total investment income
|
74,274
|
|
|
58,050
|
|
|
217,735
|
|
|
164,520
|
|
|
||||
|
Expenses:
|
|
|
|
|
|
|
|
|
||||||||
|
Base management fee
|
13,345
|
|
|
9,186
|
|
|
39,139
|
|
|
26,123
|
|
|
||||
|
Part I incentive fee
|
8,609
|
|
|
7,343
|
|
|
26,163
|
|
|
20,983
|
|
|
||||
|
Professional fees
|
863
|
|
|
959
|
|
|
2,775
|
|
|
2,931
|
|
|
||||
|
Board of Directors fees
|
135
|
|
|
173
|
|
|
431
|
|
|
423
|
|
|
||||
|
Interest expense
|
14,737
|
|
|
9,154
|
|
|
37,782
|
|
|
24,072
|
|
|
||||
|
Administrator expense
|
715
|
|
|
695
|
|
|
2,105
|
|
|
2,294
|
|
|
||||
|
General and administrative expenses
|
1,434
|
|
|
1,168
|
|
|
4,688
|
|
|
3,762
|
|
|
||||
|
Total expenses
|
39,838
|
|
|
28,678
|
|
|
113,083
|
|
|
80,588
|
|
|
||||
|
Base management fee waived
|
(229
|
)
|
|
(1,022
|
)
|
|
(463
|
)
|
|
(2,321
|
)
|
|
||||
|
Net expenses
|
39,609
|
|
|
27,656
|
|
|
112,620
|
|
|
78,267
|
|
|
||||
|
Net investment income
|
34,665
|
|
|
30,394
|
|
|
105,115
|
|
|
86,253
|
|
|
||||
|
Unrealized appreciation (depreciation) on investments:
|
|
|
|
|
|
|
|
|
||||||||
|
Control investments
|
1,958
|
|
|
10,680
|
|
|
4,510
|
|
|
14,151
|
|
|
||||
|
Affiliate investments
|
(314
|
)
|
|
158
|
|
|
651
|
|
|
94
|
|
|
||||
|
Non-control/Non-affiliate investments
|
(15,330
|
)
|
|
2,224
|
|
|
(27,148
|
)
|
|
(7,843
|
)
|
|
||||
|
Net unrealized appreciation (depreciation) on investments
|
(13,686
|
)
|
|
13,062
|
|
|
(21,987
|
)
|
|
6,402
|
|
|
||||
|
Net unrealized appreciation on secured borrowings
|
(45
|
)
|
|
—
|
|
|
(55
|
)
|
|
—
|
|
|
||||
|
Realized gain (loss) on investments:
|
|
|
|
|
|
|
|
|
||||||||
|
Control investments
|
(299
|
)
|
|
(11,223
|
)
|
|
(299
|
)
|
|
(11,223
|
)
|
|
||||
|
Non-control/Non-affiliate investments
|
(348
|
)
|
|
(6,227
|
)
|
|
1,319
|
|
|
(5,748
|
)
|
|
||||
|
Net realized gain (loss) on investments
|
(647
|
)
|
|
(17,450
|
)
|
|
1,020
|
|
|
(16,971
|
)
|
|
||||
|
Net increase in net assets resulting from operations
|
$
|
20,287
|
|
|
$
|
26,006
|
|
|
$
|
84,093
|
|
|
$
|
75,684
|
|
|
|
Net investment income per common share — basic
|
$
|
0.25
|
|
|
$
|
0.26
|
|
|
$
|
0.76
|
|
|
$
|
0.81
|
|
|
|
Earnings per common share — basic
|
$
|
0.15
|
|
|
$
|
0.22
|
|
|
$
|
0.60
|
|
|
$
|
0.71
|
|
|
|
Weighted average common shares outstanding — basic
|
139,138
|
|
|
118,271
|
|
|
139,134
|
|
|
106,353
|
|
|
||||
|
Net investment income per common share — diluted
|
$
|
0.25
|
|
|
$
|
0.25
|
|
|
$
|
0.74
|
|
|
$
|
0.79
|
|
|
|
Earnings per common share — diluted
|
$
|
0.15
|
|
|
$
|
0.22
|
|
|
$
|
0.60
|
|
|
$
|
0.70
|
|
|
|
Weighted average common shares outstanding — diluted
|
146,928
|
|
|
126,061
|
|
|
146,924
|
|
|
114,143
|
|
|
||||
|
Distributions per common share
|
$
|
0.25
|
|
|
$
|
0.29
|
|
|
$
|
0.74
|
|
|
$
|
0.87
|
|
|
|
|
Nine months
ended June 30, 2014 |
|
Nine months
ended June 30, 2013 |
||||
|
Operations:
|
|
|
|
||||
|
Net investment income
|
$
|
105,115
|
|
|
$
|
86,253
|
|
|
Net unrealized appreciation (depreciation) on investments
|
(21,987
|
)
|
|
6,402
|
|
||
|
Net unrealized appreciation on secured borrowings
|
(55
|
)
|
|
—
|
|
||
|
Net realized gain (loss) on investments
|
1,020
|
|
|
(16,971
|
)
|
||
|
Net increase in net assets resulting from operations
|
84,093
|
|
|
75,684
|
|
||
|
Stockholder transactions:
|
|
|
|
||||
|
Distributions to stockholders from ordinary income
|
(103,154
|
)
|
|
(92,680
|
)
|
||
|
Net decrease in net assets from stockholder transactions
|
(103,154
|
)
|
|
(92,680
|
)
|
||
|
Capital share transactions:
|
|
|
|
||||
|
Issuance of common stock, net
|
—
|
|
|
302,673
|
|
||
|
Issuance of common stock under dividend reinvestment plan
|
8,364
|
|
|
8,021
|
|
||
|
Repurchases of common stock under stock repurchase program
|
(406
|
)
|
|
—
|
|
||
|
Repurchases of common stock under dividend reinvestment program
|
(6,448
|
)
|
|
—
|
|
||
|
Net increase in net assets from capital share transactions
|
1,510
|
|
|
310,694
|
|
||
|
Total increase (decrease) in net assets
|
(17,551
|
)
|
|
293,698
|
|
||
|
Net assets at beginning of period
|
1,368,872
|
|
|
903,570
|
|
||
|
Net assets at end of period
|
$
|
1,351,321
|
|
|
$
|
1,197,268
|
|
|
Net asset value per common share
|
$
|
9.71
|
|
|
$
|
9.90
|
|
|
Common shares outstanding at end of period
|
139,189
|
|
|
120,966
|
|
||
|
|
Nine months
ended June 30, 2014 |
|
Nine months
ended June 30, 2013 |
||||
|
Cash flows from operating activities:
|
|
|
|
||||
|
Net increase in net assets resulting from operations
|
$
|
84,093
|
|
|
$
|
75,684
|
|
|
Adjustments to reconcile net increase in net assets resulting from operations to net cash used by operating activities:
|
|
|
|
||||
|
Net unrealized (appreciation) depreciation on investments
|
21,987
|
|
|
(6,402
|
)
|
||
|
Net unrealized appreciation on secured borrowings
|
55
|
|
|
—
|
|
||
|
Net realized (gain) loss on investments
|
(1,020
|
)
|
|
16,971
|
|
||
|
PIK interest income
|
(17,380
|
)
|
|
(11,811
|
)
|
||
|
Recognition of fee income
|
(39,308
|
)
|
|
(35,766
|
)
|
||
|
Accretion of original issue discount on investments
|
(566
|
)
|
|
(448
|
)
|
||
|
Amortization of deferred financing costs
|
4,759
|
|
|
3,896
|
|
||
|
Changes in operating assets and liabilities:
|
|
|
|
||||
|
Fee income received
|
37,736
|
|
|
29,852
|
|
||
|
Increase in interest and fees receivable
|
(6,637
|
)
|
|
(3,976
|
)
|
||
|
(Increase) decrease in due from portfolio company
|
(113
|
)
|
|
194
|
|
||
|
Decrease in receivables from unsettled transactions
|
—
|
|
|
1,750
|
|
||
|
(Increase) decrease in other assets
|
107
|
|
|
(724
|
)
|
||
|
Increase in accounts payable, accrued expenses and other liabilities
|
2,761
|
|
|
991
|
|
||
|
Increase in base management fee payable
|
3,491
|
|
|
1,591
|
|
||
|
Increase in Part I incentive fee payable
|
1,434
|
|
|
1,764
|
|
||
|
Increase (decrease) in due to FSC CT, Inc.
|
1,374
|
|
|
(4
|
)
|
||
|
Increase in interest payable
|
9,280
|
|
|
2,243
|
|
||
|
Decrease in payables from unsettled transactions
|
(25,716
|
)
|
|
—
|
|
||
|
Increase in amounts payable to syndication partners
|
4,193
|
|
|
—
|
|
||
|
Increase (decrease) in advances received from portfolio companies
|
7,233
|
|
|
(24
|
)
|
||
|
Purchases of investments and net revolver activity
|
(1,306,141
|
)
|
|
(972,155
|
)
|
||
|
Principal payments received on investments (scheduled payments)
|
41,440
|
|
|
36,593
|
|
||
|
Principal payments received on investments (payoffs)
|
287,385
|
|
|
368,590
|
|
||
|
PIK interest income received in cash
|
6,441
|
|
|
5,492
|
|
||
|
Proceeds from the sale of investments
|
234,169
|
|
|
54,461
|
|
||
|
Net cash used by operating activities
|
(648,943
|
)
|
|
(431,238
|
)
|
||
|
Cash flows from financing activities:
|
|
|
|
||||
|
Distributions paid in cash
|
(94,790
|
)
|
|
(84,658
|
)
|
||
|
Borrowings under SBA debentures payable
|
43,250
|
|
|
31,750
|
|
||
|
Borrowings under credit facilities
|
900,338
|
|
|
887,548
|
|
||
|
Repayments of borrowings under credit facilities
|
(553,157
|
)
|
|
(872,799
|
)
|
||
|
Proceeds from the issuance of unsecured notes
|
244,403
|
|
|
155,824
|
|
||
|
Proceeds from the issuance of common stock
|
—
|
|
|
303,502
|
|
||
|
Proceeds from secured borrowings
|
47,750
|
|
|
—
|
|
||
|
Repayments of secured borrowings
|
(2,000
|
)
|
|
—
|
|
||
|
Repurchases of common stock under stock repurchase program
|
(406
|
)
|
|
—
|
|
||
|
Repurchases of common stock under dividend reinvestment plan
|
(6,448
|
)
|
|
—
|
|
||
|
Deferred financing costs paid
|
(2,153
|
)
|
|
(3,713
|
)
|
||
|
Offering costs paid
|
(542
|
)
|
|
(991
|
)
|
||
|
Net cash provided by financing activities
|
576,245
|
|
|
416,463
|
|
||
|
Net decrease in cash and cash equivalents
|
(72,698
|
)
|
|
(14,775
|
)
|
||
|
Cash and cash equivalents, beginning of period
|
147,359
|
|
|
74,393
|
|
||
|
Cash and cash equivalents, end of period
|
$
|
74,661
|
|
|
$
|
59,618
|
|
|
Supplemental information:
|
|
|
|
||||
|
Cash paid for interest
|
$
|
23,979
|
|
|
$
|
18,230
|
|
|
Non-cash financing activities:
|
|
|
|
||||
|
Issuance of shares of common stock under dividend reinvestment plan
|
$
|
8,364
|
|
|
$
|
8,021
|
|
|
Portfolio Company/Type of Investment (1)(2)(5)(22)
|
|
Industry
|
|
Principal (8)
|
|
|
Cost
|
|
|
Fair Value
|
|
|||
|
Control Investments (3)
|
|
|
|
|
|
|
|
|
||||||
|
Traffic Solutions Holdings, Inc.
|
|
Construction and engineering
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, 12% cash 3% PIK due 12/31/2016
|
|
|
|
$
|
14,828
|
|
|
$
|
14,828
|
|
|
$
|
14,854
|
|
|
LC Facility, 8.5% cash due 12/31/2016
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
746,114 Series A Preferred Units
|
|
|
|
|
|
14,022
|
|
|
17,127
|
|
||||
|
746,114 Class A Common Stock Units
|
|
|
|
|
|
5,316
|
|
|
10,617
|
|
||||
|
|
|
|
|
|
|
34,166
|
|
|
42,598
|
|
||||
|
TransTrade Operators, Inc. (9)
|
|
Air freight and logistics
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, 11% cash 3% PIK due 5/31/2016
|
|
|
|
15,180
|
|
|
15,180
|
|
|
11,323
|
|
|||
|
First Lien Revolver, 8% cash due 5/31/2016
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
596.67 Series A Common Units in TransTrade Holdings LLC
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
1,403,922 Series A Preferred Units in TransTrade Holdings LLC
|
|
|
|
|
|
1,404
|
|
|
—
|
|
||||
|
5,200,000 Series B Preferred Units in TransTrade Holdings LLC
|
|
|
|
|
|
5,200
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
21,784
|
|
|
11,323
|
|
||||
|
HFG Holdings, LLC (23)
|
|
Specialized finance
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, 6% cash 4% PIK due 6/10/2019
|
|
|
|
95,888
|
|
|
95,888
|
|
|
96,520
|
|
|||
|
860,000 Class A Units (12)
|
|
|
|
|
|
22,347
|
|
|
29,795
|
|
||||
|
|
|
|
|
|
|
118,235
|
|
|
126,315
|
|
||||
|
First Star Aviation LLC
|
|
Airlines
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, 9% cash 3% PIK due 1/9/2018
|
|
|
|
33,863
|
|
|
33,863
|
|
|
33,560
|
|
|||
|
10,104,401 Common Units
|
|
|
|
|
|
10,104
|
|
|
13,936
|
|
||||
|
|
|
|
|
|
|
43,967
|
|
|
47,496
|
|
||||
|
First Star Speir Aviation 1 Limited
|
|
Airlines
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, 9% cash due 7/30/2018 (12)
|
|
|
|
38,023
|
|
|
38,023
|
|
|
38,025
|
|
|||
|
1,087,445 Common Units (12)
|
|
|
|
|
|
2,023
|
|
|
2,300
|
|
||||
|
|
|
|
|
|
|
40,046
|
|
|
40,325
|
|
||||
|
First Star Bermuda Aviation Limited
|
|
Airlines
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, 9% cash 3% PIK due 8/19/2018 (12)
|
|
|
|
11,801
|
|
|
11,801
|
|
|
11,811
|
|
|||
|
4,256,042 Common Units (12)
|
|
|
|
|
|
4,256
|
|
|
4,885
|
|
||||
|
|
|
|
|
|
|
16,057
|
|
|
16,696
|
|
||||
|
Eagle Hospital Physicians, LLC
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, 8% PIK due 8/1/2016
|
|
|
|
11,845
|
|
|
11,845
|
|
|
11,764
|
|
|||
|
First Lien Term Loan B, 8.1% PIK due 8/1/2016
|
|
|
|
3,233
|
|
|
3,233
|
|
|
3,218
|
|
|||
|
First Lien Revolver, 8% cash due 8/1/2016
|
|
|
|
2,380
|
|
|
2,380
|
|
|
2,380
|
|
|||
|
4,100,000 Class A Common Units
|
|
|
|
|
|
4,100
|
|
|
6,192
|
|
||||
|
|
|
|
|
|
|
21,558
|
|
|
23,554
|
|
||||
|
Total Control Investments (22.8% of net assets)
|
|
|
|
|
|
$
|
295,813
|
|
|
$
|
308,307
|
|
||
|
Affiliate Investments (4)
|
|
|
|
|
|
|
|
|
||||||
|
Caregiver Services, Inc.
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, 10% cash 2% PIK due 6/30/2019
|
|
|
|
$
|
9,099
|
|
|
$
|
9,099
|
|
|
$
|
8,997
|
|
|
1,080,399 shares of Series A Preferred Stock
|
|
|
|
|
|
1,080
|
|
|
3,704
|
|
||||
|
|
|
|
|
|
|
10,179
|
|
|
12,701
|
|
||||
|
AmBath/ReBath Holdings, Inc.
|
|
Home improvement retail
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, LIBOR+7% (3% floor) cash due 4/30/2016 (14)
|
|
|
|
2,173
|
|
|
2,165
|
|
|
2,185
|
|
|||
|
First Lien Term Loan B, 12.5% cash 2.5% PIK due 4/30/2016
|
|
|
|
26,169
|
|
|
26,153
|
|
|
25,880
|
|
|||
|
4,668,788 Shares of Preferred Stock
|
|
|
|
|
|
—
|
|
|
508
|
|
||||
|
|
|
|
|
|
|
28,318
|
|
|
28,573
|
|
||||
|
Total Affiliate Investments (3.1% of net assets)
|
|
|
|
|
|
$
|
38,497
|
|
|
$
|
41,274
|
|
||
|
Non-Control/Non-Affiliate Investments (7)
|
|
|
|
|
|
|
|
|
||||||
|
Fitness Edge, LLC
|
|
Leisure facilities
|
|
|
|
|
|
|
||||||
|
1,000 Common Units (6)
|
|
|
|
|
|
$
|
43
|
|
|
$
|
189
|
|
||
|
|
|
|
|
|
|
43
|
|
|
189
|
|
||||
|
Thermoforming Technology Group LLC (formerly Capital Equipment Group, Inc.)
|
|
Industrial machinery
|
|
|
|
|
|
|
||||||
|
2.28% membership interest (6)
|
|
|
|
|
|
849
|
|
|
810
|
|
||||
|
|
|
|
|
|
|
849
|
|
|
810
|
|
||||
|
Portfolio Company/Type of Investment (1)(2)(5)
|
|
Industry
|
|
Principal (8)
|
|
|
Cost
|
|
|
Fair Value
|
|
|||
|
HealthDrive Corporation (9)
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, 10% cash due 7/17/2014
|
|
|
|
$
|
4,292
|
|
|
$
|
4,290
|
|
|
$
|
4,215
|
|
|
First Lien Term Loan B, 12% cash 1% PIK due 7/17/2014
|
|
|
|
11,232
|
|
|
11,232
|
|
|
11,213
|
|
|||
|
First Lien Revolver, 12% cash due 7/17/2014
|
|
|
|
2,266
|
|
|
2,266
|
|
|
2,263
|
|
|||
|
|
|
|
|
|
|
17,788
|
|
|
17,691
|
|
||||
|
Cenegenics, LLC
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, 9.75% cash due 9/30/2019
|
|
|
|
32,300
|
|
|
32,294
|
|
|
32,113
|
|
|||
|
414,419 Common Units (6)
|
|
|
|
|
|
598
|
|
|
1,048
|
|
||||
|
|
|
|
|
|
|
32,892
|
|
|
33,161
|
|
||||
|
Riverlake Equity Partners II, LP
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
1.78% limited partnership interest (12)
|
|
|
|
|
|
436
|
|
|
509
|
|
||||
|
|
|
|
|
|
|
436
|
|
|
509
|
|
||||
|
Riverside Fund IV, LP
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
0.34% limited partnership interest (6)(12)
|
|
|
|
|
|
678
|
|
|
696
|
|
||||
|
|
|
|
|
|
|
678
|
|
|
696
|
|
||||
|
Psilos Group Partners IV, LP
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
2.35% limited partnership interest (11)(12)
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
Mansell Group, Inc. (9)
|
|
Advertising
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, LIBOR+7% (3% floor) cash due 12/31/2015 (14)
|
|
|
|
5,246
|
|
|
5,219
|
|
|
5,219
|
|
|||
|
First Lien Term Loan B, LIBOR+9% (3% floor) cash 1.5% PIK due 12/31/2015 (14)
|
|
|
|
9,532
|
|
|
9,499
|
|
|
9,484
|
|
|||
|
|
|
|
|
|
|
14,718
|
|
|
14,703
|
|
||||
|
Enhanced Recovery Company, LLC
|
|
Diversified support services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, LIBOR+7% (2% floor) cash due 8/13/2015 (14)
|
|
|
|
11,000
|
|
|
10,953
|
|
|
10,985
|
|
|||
|
First Lien Term Loan B, LIBOR+10% (2% floor) cash 1% PIK due 8/13/2015 (14)
|
|
|
|
16,013
|
|
|
15,964
|
|
|
15,858
|
|
|||
|
First Lien Revolver, LIBOR+7% (2% floor) cash due 8/13/2015 (10)(14)
|
|
|
|
—
|
|
|
(18
|
)
|
|
—
|
|
|||
|
|
|
|
|
|
|
26,899
|
|
|
26,843
|
|
||||
|
Specialty Bakers LLC
|
|
Food distributors
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, LIBOR+8.5% cash due 9/15/2015 (14)
|
|
|
|
2,674
|
|
|
2,606
|
|
|
2,675
|
|
|||
|
First Lien Term Loan B, LIBOR+11% (2.5% floor) cash due 9/15/2015 (14)
|
|
|
|
11,000
|
|
|
10,933
|
|
|
11,009
|
|
|||
|
First Lien Revolver, LIBOR+8.5% cash due 9/15/2015 (14)
|
|
|
|
4,000
|
|
|
3,976
|
|
|
4,000
|
|
|||
|
|
|
|
|
|
|
17,515
|
|
|
17,684
|
|
||||
|
Welocalize, Inc.
|
|
Internet software & services
|
|
|
|
|
|
|
||||||
|
3,393,060 Common Units in RPWL Holdings, LLC
|
|
|
|
|
|
3,393
|
|
|
6,077
|
|
||||
|
|
|
|
|
|
|
3,393
|
|
|
6,077
|
|
||||
|
Miche Bag, LLC (9)
|
|
Apparel, accessories & luxury goods
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan B, LIBOR+10% (3% floor) cash 3% PIK due 12/7/2015 (14)
|
|
|
|
17,844
|
|
|
16,778
|
|
|
6,061
|
|
|||
|
First Lien Revolver, LIBOR+7% (3% floor) cash due 12/7/2015 (14)
|
|
|
|
500
|
|
|
474
|
|
|
167
|
|
|||
|
10,371 Series A Preferred Equity units in Miche Bag Holdings, LLC
|
|
|
|
|
|
1,037
|
|
|
—
|
|
||||
|
1,358.854 Series C Preferred Equity units in Miche Bag Holdings, LLC
|
|
|
|
|
|
136
|
|
|
—
|
|
||||
|
19,417 Series A Common Equity units in Miche Bag Holdings, LLC
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
146,289 Series D Common Equity units in Miche Bag Holdings, LLC
|
|
|
|
|
|
1,463
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
19,888
|
|
|
6,228
|
|
||||
|
Bunker Hill Capital II (QP), LP
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
0.51% limited partnership interest (12)
|
|
|
|
|
|
368
|
|
|
258
|
|
||||
|
|
|
|
|
|
|
368
|
|
|
258
|
|
||||
|
Drugtest, Inc. (9)
|
|
Human resources & employment services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, LIBOR+7.5% (0.75% floor) cash due 6/27/2018 (14)
|
|
|
|
25,155
|
|
|
25,055
|
|
|
25,469
|
|
|||
|
First Lien Term Loan B, LIBOR+10% (1% floor) cash 1.5% PIK due 6/27/2018 (14)
|
|
|
|
13,361
|
|
|
13,308
|
|
|
13,418
|
|
|||
|
Acquisition Line, LIBOR+5.75% cash due 6/27/2015 (14)
|
|
|
|
9,100
|
|
|
9,100
|
|
|
9,100
|
|
|||
|
First Lien Revolver, LIBOR+6% (1% floor) cash due 6/27/2018 (10)(14)
|
|
|
|
|
|
|
(25
|
)
|
|
—
|
|
|||
|
|
|
|
|
|
|
47,438
|
|
|
47,987
|
|
||||
|
Portfolio Company/Type of Investment (1)(2)(5)
|
|
Industry
|
|
Principal (8)
|
|
|
Cost
|
|
|
Fair Value
|
|
|||
|
Physicians Pharmacy Alliance, Inc. (9)
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+9% cash 1.5% PIK due 1/4/2016 (14)
|
|
|
|
$
|
11,152
|
|
|
$
|
11,020
|
|
|
$
|
11,099
|
|
|
|
|
|
|
|
|
11,020
|
|
|
11,099
|
|
||||
|
Cardon Healthcare Network, LLC
|
|
Diversified support services
|
|
|
|
|
|
|
||||||
|
69,487 Class A Units
|
|
|
|
|
|
265
|
|
|
497
|
|
||||
|
|
|
|
|
|
|
265
|
|
|
497
|
|
||||
|
Phoenix Brands Merger Sub LLC (9)
|
|
Household products
|
|
|
|
|
|
|
||||||
|
Senior Term Loan, LIBOR+5% (1.5% floor) cash due 1/31/2016 (15)
|
|
|
|
3,697
|
|
|
3,643
|
|
|
3,537
|
|
|||
|
Subordinated Term Loan, 10% cash 3.875% PIK due 2/1/2017
|
|
|
|
30,320
|
|
|
30,097
|
|
|
28,847
|
|
|||
|
Senior Revolver, LIBOR+5% (1.5% floor) cash due 1/31/2016 (15)
|
|
|
|
3,000
|
|
|
2,947
|
|
|
3,000
|
|
|||
|
|
|
|
|
|
|
36,687
|
|
|
35,384
|
|
||||
|
CCCG, LLC (9)
|
|
Oil & gas equipment services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+8% (1.75% floor) cash 1% PIK due 12/29/2017 (15)
|
|
|
|
34,396
|
|
|
34,053
|
|
|
33,177
|
|
|||
|
First Lien Revolver, LIBOR+5.5% (1.75% floor) cash due 12/31/2014 (15)
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
34,053
|
|
|
33,177
|
|
||||
|
Maverick Healthcare Group, LLC
|
|
Healthcare equipment
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, LIBOR+5.5% (1.75% floor) cash due 12/31/2016 (16)
|
|
|
|
16,808
|
|
|
16,186
|
|
|
16,616
|
|
|||
|
First Lien Term Loan B, LIBOR+9% (1.75% floor) cash due 12/31/2016 (16)
|
|
|
|
38,600
|
|
|
38,317
|
|
|
38,265
|
|
|||
|
CapEx Line, LIBOR+5.75% (1.75% floor) cash due 12/31/2016 (16)
|
|
|
|
1,263
|
|
|
1,151
|
|
|
1,255
|
|
|||
|
|
|
|
|
|
|
55,654
|
|
|
56,136
|
|
||||
|
Refac Optical Group
|
|
Specialty stores
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, LIBOR+7.5% cash due 9/30/2018 (17)
|
|
|
|
21,912
|
|
|
21,773
|
|
|
21,381
|
|
|||
|
First Lien Term Loan B, LIBOR+8.5% cash 1.75% PIK due 9/30/2018 (17)
|
|
|
|
33,201
|
|
|
32,932
|
|
|
31,880
|
|
|||
|
First Lien Term Loan C, 12% cash due 12/31/2014
|
|
|
|
3,399
|
|
|
3,399
|
|
|
3,391
|
|
|||
|
First Lien Revolver, LIBOR+7.5% cash due 9/30/2018 (17)
|
|
|
|
4,400
|
|
|
4,346
|
|
|
4,400
|
|
|||
|
1,550.9435 Shares of Common Stock in Refac Holdings, Inc.
|
|
|
|
|
|
1
|
|
|
—
|
|
||||
|
500.9435 Shares of Series A-2 Preferred Stock in Refac Holdings, Inc.
|
|
|
|
|
|
305
|
|
|
—
|
|
||||
|
1,000 Shares of Series A Preferred Stock in Refac Holdings, Inc.
|
|
|
|
|
|
999
|
|
|
560
|
|
||||
|
|
|
|
|
|
|
63,755
|
|
|
61,612
|
|
||||
|
Baird Capital Partners V, LP
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
0.40% limited partnership interest (6)(12)
|
|
|
|
|
|
826
|
|
|
895
|
|
||||
|
|
|
|
|
|
|
826
|
|
|
895
|
|
||||
|
Charter Brokerage, LLC
|
|
Oil & gas equipment services
|
|
|
|
|
|
|
||||||
|
Senior Term Loan, LIBOR+6.5% (1.5% floor) cash due 10/10/2016 (16)
|
|
|
|
27,593
|
|
|
27,535
|
|
|
27,646
|
|
|||
|
Subordinated Term Loan, 11.75% cash 2% PIK due 10/10/2017
|
|
|
|
12,157
|
|
|
12,117
|
|
|
12,177
|
|
|||
|
Senior Revolver, LIBOR+6.5% (1.5% floor) cash due 10/10/2016 (10)(16)
|
|
|
|
|
|
|
(29
|
)
|
|
—
|
|
|||
|
|
|
|
|
|
|
39,623
|
|
|
39,823
|
|
||||
|
Discovery Practice Management, Inc. (9)
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+9.75% cash due 11/4/2018 (14)
|
|
|
|
20,047
|
|
|
19,979
|
|
|
20,456
|
|
|||
|
First Lien Revolver, LIBOR+6% cash due 11/4/2018 (14)
|
|
|
|
1,250
|
|
|
1,235
|
|
|
1,250
|
|
|||
|
Capex Line, LIBOR+7% cash due 11/4/2018 (14)
|
|
|
|
500
|
|
|
500
|
|
|
500
|
|
|||
|
|
|
|
|
|
|
21,714
|
|
|
22,206
|
|
||||
|
Milestone Partners IV, LP
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
0.85% limited partnership interest (6)(12)
|
|
|
|
|
|
1,131
|
|
|
1,137
|
|
||||
|
|
|
|
|
|
|
1,131
|
|
|
1,137
|
|
||||
|
Insight Pharmaceuticals LLC
|
|
Pharmaceuticals
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+11.75% (1.5% floor) cash due 8/25/2017 (15)
|
|
|
|
13,517
|
|
|
13,458
|
|
|
13,316
|
|
|||
|
|
|
|
|
|
|
13,458
|
|
|
13,316
|
|
||||
|
National Spine and Pain Centers, LLC
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 11% cash 1.6% PIK due 9/27/2017
|
|
|
|
29,619
|
|
|
29,475
|
|
|
29,694
|
|
|||
|
317,282.97 Class A Units (6)
|
|
|
|
|
|
317
|
|
|
467
|
|
||||
|
|
|
|
|
|
|
29,792
|
|
|
30,161
|
|
||||
|
RCPDirect, LP
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
0.91% limited partnership interest (6)(12)
|
|
|
|
|
|
740
|
|
|
820
|
|
||||
|
|
|
|
|
|
|
740
|
|
|
820
|
|
||||
|
Portfolio Company/Type of Investment (1)(2)(5)
|
|
Industry
|
|
Principal (8)
|
|
|
Cost
|
|
|
Fair Value
|
|
|||
|
The MedTech Group, Inc. (9)
|
|
Healthcare equipment
|
|
|
|
|
|
|
||||||
|
Senior Term Loan, LIBOR+5.5% (1.5% floor) cash due 9/7/2016 (15)
|
|
|
|
$
|
12,204
|
|
|
$
|
12,153
|
|
|
$
|
12,236
|
|
|
|
|
|
|
|
|
12,153
|
|
|
12,236
|
|
||||
|
Digi-Star Acquisition Holdings, Inc.
|
|
Industrial machinery
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 12% cash 1.5% PIK due 11/18/2017
|
|
|
|
16,634
|
|
|
16,564
|
|
|
16,681
|
|
|||
|
264.37 Class A Preferred Units
|
|
|
|
|
|
115
|
|
|
120
|
|
||||
|
2,954.87 Class A Common Units (6)
|
|
|
|
|
|
36
|
|
|
451
|
|
||||
|
|
|
|
|
|
|
16,715
|
|
|
17,252
|
|
||||
|
CPASS Acquisition Company
|
|
Internet software & services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+9% (1.5% floor) cash 1% PIK due 11/21/2016 (14)
|
|
|
|
7,613
|
|
|
7,559
|
|
|
7,574
|
|
|||
|
First Lien Revolver, LIBOR+9% (1.5% floor) cash due 11/21/2016 (14)
|
|
|
|
750
|
|
|
741
|
|
|
750
|
|
|||
|
|
|
|
|
|
|
8,300
|
|
|
8,324
|
|
||||
|
Genoa Healthcare Holdings, LLC
|
|
Pharmaceuticals
|
|
|
|
|
|
|
||||||
|
Senior Term Loan, LIBOR+5.25% (1.25% floor) cash due 12/1/2016 (15)
|
|
|
|
7,946
|
|
|
7,946
|
|
|
7,915
|
|
|||
|
Subordinated Term Loan, 12% cash 2% PIK due 6/1/2017
|
|
|
|
13,170
|
|
|
13,103
|
|
|
13,223
|
|
|||
|
Senior Revolver, LIBOR+5.25% (1.25% floor) cash due 12/1/2016 (15)
|
|
|
|
167
|
|
|
167
|
|
|
167
|
|
|||
|
500,000 Preferred Units
|
|
|
|
|
|
261
|
|
|
296
|
|
||||
|
500,000 Class A Common Units
|
|
|
|
|
|
25
|
|
|
858
|
|
||||
|
|
|
|
|
|
|
21,502
|
|
|
22,459
|
|
||||
|
ACON Equity Partners III, LP
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
0.13% limited partnership interest (6)(12)
|
|
|
|
|
|
413
|
|
|
312
|
|
||||
|
|
|
|
|
|
|
413
|
|
|
312
|
|
||||
|
CRGT, Inc.
|
|
IT consulting & other services
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 12.5% cash 3% PIK due 3/9/2018
|
|
|
|
27,356
|
|
|
27,200
|
|
|
27,518
|
|
|||
|
|
|
|
|
|
|
27,200
|
|
|
27,518
|
|
||||
|
Riverside Fund V, LP
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
0.48% limited partnership interest (6)(12)
|
|
|
|
|
|
418
|
|
|
348
|
|
||||
|
|
|
|
|
|
|
418
|
|
|
348
|
|
||||
|
World 50, Inc.
|
|
Research & consulting services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, LIBOR+6.25% (1.5% floor) cash due 3/30/2017 (18)
|
|
|
|
8,128
|
|
|
8,052
|
|
|
8,063
|
|
|||
|
First Lien Term Loan B, 12.5% cash due 3/30/2017
|
|
|
|
7,000
|
|
|
6,952
|
|
|
6,908
|
|
|||
|
Senior Revolver, LIBOR+6.25% (1.5% floor) cash due 3/30/2017 (10)(18)
|
|
|
|
|
|
(34
|
)
|
|
—
|
|
||||
|
|
|
|
|
|
|
14,970
|
|
|
14,971
|
|
||||
|
Nixon, Inc.
|
|
Apparel, accessories & luxury goods
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, 8.75% cash 2.75% PIK due 4/16/2018
|
|
|
|
9,023
|
|
|
8,960
|
|
|
9,067
|
|
|||
|
|
|
|
|
|
|
8,960
|
|
|
9,067
|
|
||||
|
JTC Education, Inc. (9)
|
|
Education services
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 13% cash due 11/1/2017
|
|
|
|
14,500
|
|
|
14,430
|
|
|
14,493
|
|
|||
|
17,391 Shares of Series A-1 Preferred Stock
|
|
|
|
|
|
313
|
|
|
294
|
|
||||
|
17,391 Shares of Common Stock
|
|
|
|
|
|
187
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
14,930
|
|
|
14,787
|
|
||||
|
BMC Acquisition, Inc.
|
|
Other diversified financial services
|
|
|
|
|
|
|
||||||
|
500 Series A Preferred Shares
|
|
|
|
|
|
499
|
|
|
573
|
|
||||
|
50,000 Common Shares
|
|
|
|
|
|
1
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
500
|
|
|
573
|
|
||||
|
Ansira Partners, Inc. (9)
|
|
Advertising
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+5.5% (1.5% floor) cash due 5/4/2017 (15)
|
|
|
|
9,168
|
|
|
9,119
|
|
|
9,164
|
|
|||
|
First Lien Revolver, LIBOR+5.5% (1.5% floor) cash due 5/4/2017 (10)(15)
|
|
|
|
|
|
(5
|
)
|
|
—
|
|
||||
|
250 Preferred Units & 250 Class A Common Units of Ansira Holdings, LLC
|
|
|
|
|
|
250
|
|
|
321
|
|
||||
|
|
|
|
|
|
|
9,364
|
|
|
9,485
|
|
||||
|
Edmentum, Inc.
|
|
Education services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+9.75% (1.5% floor) cash due 5/17/2019 (15)
|
|
|
|
17,000
|
|
|
17,000
|
|
|
16,695
|
|
|||
|
|
|
|
|
|
|
17,000
|
|
|
16,695
|
|
||||
|
Portfolio Company/Type of Investment (1)(2)(5)
|
|
Industry
|
|
Principal (8)
|
|
|
Cost
|
|
|
Fair Value
|
|
|||
|
I Drive Safely, LLC
|
|
Education services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+8.5% (1.5% floor) cash due 5/25/2017 (17)
|
|
|
|
$
|
27,000
|
|
|
$
|
26,965
|
|
|
$
|
27,052
|
|
|
First Lien Revolver, LIBOR+6.5% (1.5% floor) cash due 5/25/2017 (10)(17)
|
|
|
|
|
|
(7
|
)
|
|
—
|
|
||||
|
75,000 Class A Common Units of IDS Investments, LLC
|
|
|
|
|
|
750
|
|
|
429
|
|
||||
|
|
|
|
|
|
|
27,708
|
|
|
27,481
|
|
||||
|
Yeti Acquisition, LLC (9)
|
|
Leisure products
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, LIBOR+8% (1.25% floor) cash due 6/15/2017 (14)
|
|
|
|
17,611
|
|
|
17,573
|
|
|
17,836
|
|
|||
|
First Lien Term Loan B, LIBOR+11.25% (1.25% floor) cash 1% PIK due 6/15/2017 (14)
|
|
|
|
12,000
|
|
|
11,984
|
|
|
12,138
|
|
|||
|
First Lien Revolver, LIBOR+8% (1.25% floor) cash due 6/15/2017 (14)
|
|
|
|
3,000
|
|
|
2,986
|
|
|
3,000
|
|
|||
|
1,500 Common Stock Units of Yeti Holdings, Inc.
|
|
|
|
|
|
1,500
|
|
|
3,774
|
|
||||
|
|
|
|
|
|
|
34,043
|
|
|
36,748
|
|
||||
|
Specialized Education Services, Inc.
|
|
Education services
|
|
|
|
|
|
|
||||||
|
Senior Term Loan, LIBOR+7% (1.5% floor) cash due 6/28/2017 (15)
|
|
|
|
8,699
|
|
|
8,699
|
|
|
8,504
|
|
|||
|
Subordinated Term Loan, 11% cash 1.5% PIK due 6/28/2018
|
|
|
|
18,042
|
|
|
18,042
|
|
|
17,722
|
|
|||
|
|
|
|
|
|
|
26,741
|
|
|
26,226
|
|
||||
|
Vitalyst Holdings, Inc. (formerly known as PC Helps Support, LLC)
|
|
IT consulting & other services
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 12% cash 1.5% PIK due 9/5/2018
|
|
|
|
19,019
|
|
|
19,019
|
|
|
19,074
|
|
|||
|
675 Series A Preferred Units of PCH Support Holdings, Inc.
|
|
|
|
|
|
675
|
|
|
784
|
|
||||
|
7,500 Class A Common Stock Units of PCH Support Holdings, Inc.
|
|
|
|
|
|
75
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
19,769
|
|
|
19,858
|
|
||||
|
Olson + Co., Inc. (9)
|
|
Advertising
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+5.5% (1.5% floor) cash due 9/30/2017 (15)
|
|
|
|
13,160
|
|
|
13,160
|
|
|
13,170
|
|
|||
|
First Lien Revolver, LIBOR+5.5% (1.5% floor) cash due 9/30/2017 (15)
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
13,160
|
|
|
13,170
|
|
||||
|
Beecken Petty O’Keefe Fund IV, L.P.
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
0.5% limited partnership interest (12)
|
|
|
|
|
|
391
|
|
|
350
|
|
||||
|
|
|
|
|
|
|
391
|
|
|
350
|
|
||||
|
Deltek, Inc. (9)
|
|
IT consulting & other services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+8.75% (1.25% floor) cash due 10/10/2019 (15)
|
|
|
|
25,000
|
|
|
25,000
|
|
|
25,403
|
|
|||
|
First Lien Revolver, LIBOR+4.75% (1.25% floor) cash due 10/10/2017 (15)
|
|
|
|
6,667
|
|
|
6,667
|
|
|
6,667
|
|
|||
|
|
|
|
|
|
|
31,667
|
|
|
32,070
|
|
||||
|
First American Payment Systems, LP
|
|
Diversified support services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+9.5% (1.25% floor) cash due 4/12/2019 (15)
|
|
|
|
25,000
|
|
|
25,000
|
|
|
24,799
|
|
|||
|
First Lien Revolver, LIBOR+4.5% (1.25% floor) cash due 10/12/2017 (15)
|
|
|
|
67
|
|
|
67
|
|
|
67
|
|
|||
|
|
|
|
|
|
|
25,067
|
|
|
24,866
|
|
||||
|
Dexter Axle Company
|
|
Auto parts & equipment
|
|
|
|
|
|
|
||||||
|
1,500 Common Shares in Dexter Axle Holding Company
|
|
|
|
|
|
1,500
|
|
|
2,321
|
|
||||
|
|
|
|
|
|
|
1,500
|
|
|
2,321
|
|
||||
|
SumTotal Systems, LLC
|
|
Internet software & services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+9% (1.25% floor) cash due 5/16/2019 (15)
|
|
|
|
20,000
|
|
|
20,000
|
|
|
19,650
|
|
|||
|
|
|
|
|
|
|
20,000
|
|
|
19,650
|
|
||||
|
Comprehensive Pharmacy Services, LLC
|
|
Pharmaceuticals
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 11.25% cash 1.5% PIK due 11/30/2019
|
|
|
|
14,308
|
|
|
14,308
|
|
|
14,337
|
|
|||
|
20,000 Common Shares in MCP CPS Group Holdings, Inc.
|
|
|
|
|
|
2,000
|
|
|
2,647
|
|
||||
|
|
|
|
|
|
|
16,308
|
|
|
16,984
|
|
||||
|
Garretson Firm Resolution Group, Inc.
|
|
Diversified support services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+5% (1.25% floor) cash due 12/20/2018 (15)
|
|
|
|
7,031
|
|
|
7,031
|
|
|
7,031
|
|
|||
|
Subordinated Term Loan, 11% cash 1.5% PIK due 6/20/2019
|
|
|
|
5,075
|
|
|
5,075
|
|
|
5,087
|
|
|||
|
First Lien Revolver, LIBOR+5% (1.25% floor) cash due 12/20/2017 (15)
|
|
|
|
588
|
|
|
588
|
|
|
588
|
|
|||
|
Portfolio Company/Type of Investment (1)(2)(5)
|
|
Industry
|
|
Principal (8)
|
|
|
Cost
|
|
|
Fair Value
|
|
|||
|
Garretson Firm Resolution Group, Inc. (continued)
|
|
|
|
|
|
|
|
|
||||||
|
4,950,000 Preferred Units in GRG Holdings, LP
|
|
|
|
|
|
$
|
495
|
|
|
$
|
350
|
|
||
|
50,000 Common Units in GRG Holdings, LP
|
|
|
|
|
|
5
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
13,194
|
|
|
13,056
|
|
||||
|
Teaching Strategies, LLC
|
|
Education services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, LIBOR+6% (1.25% floor) cash due 12/21/2017 (18)
|
|
|
|
$
|
58,850
|
|
|
58,837
|
|
|
59,367
|
|
||
|
First Lien Term Loan B, LIBOR+8.35% (1.25% floor) cash 3.15% PIK due 12/21/2017 (18)
|
|
|
|
27,902
|
|
|
27,896
|
|
|
28,045
|
|
|||
|
First Lien Revolver, LIBOR+6% (1.25% floor) cash due 12/21/2017 (18)
|
|
|
|
1,500
|
|
|
1,498
|
|
|
1,500
|
|
|||
|
|
|
|
|
|
|
88,231
|
|
|
88,912
|
|
||||
|
Omniplex World Services Corporation
|
|
Security & alarm services
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 12.25% cash 1.25% PIK due 12/21/2018
|
|
|
|
12,744
|
|
|
12,744
|
|
|
12,750
|
|
|||
|
500 Class A Common Units in Omniplex Holdings Corp.
|
|
|
|
|
|
500
|
|
|
564
|
|
||||
|
|
|
|
|
|
|
13,244
|
|
|
13,314
|
|
||||
|
Dominion Diagnostics, LLC (9)
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 11% cash 2% PIK due 12/21/2018
|
|
|
|
15,950
|
|
|
15,950
|
|
|
15,994
|
|
|||
|
|
|
|
|
|
|
15,950
|
|
|
15,994
|
|
||||
|
Affordable Care, Inc.
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+9.25% (1.25% floor) cash due 12/26/2019 (15)
|
|
|
|
21,500
|
|
|
21,500
|
|
|
21,628
|
|
|||
|
|
|
|
|
|
|
21,500
|
|
|
21,628
|
|
||||
|
Aderant North America, Inc.
|
|
Internet software & services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+8.75% (1.25% floor) cash due 6/20/2019 (15)
|
|
|
|
7,000
|
|
|
7,000
|
|
|
7,053
|
|
|||
|
|
|
|
|
|
|
7,000
|
|
|
7,053
|
|
||||
|
AdVenture Interactive, Corp.
|
|
Advertising
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+6.75% (1.25% floor) cash due 3/22/2018 (13)(16)
|
|
|
|
89,989
|
|
|
89,957
|
|
|
90,306
|
|
|||
|
First Lien Revolver, LIBOR+6.75% (1.25% floor) cash due 3/22/2018 (10)(16)
|
|
|
|
|
|
(1
|
)
|
|
—
|
|
||||
|
2,000 Preferred Units of AVI Holdings, L.P.
|
|
|
|
|
|
1,811
|
|
|
1,319
|
|
||||
|
|
|
|
|
|
|
91,767
|
|
|
91,625
|
|
||||
|
CoAdvantage Corporation
|
|
Human resources & employment services
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 11.5% cash 1.25% PIK due 12/31/2018
|
|
|
|
14,846
|
|
|
14,846
|
|
|
14,866
|
|
|||
|
50,000 Class A Units in CIP CoAdvantage Investments LLC
|
|
|
|
|
|
557
|
|
|
597
|
|
||||
|
|
|
|
|
|
|
15,403
|
|
|
15,463
|
|
||||
|
EducationDynamics, LLC
|
|
Education services
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 12% cash 6% PIK due 1/16/2017
|
|
|
|
11,573
|
|
|
11,573
|
|
|
11,204
|
|
|||
|
|
|
|
|
|
|
11,573
|
|
|
11,204
|
|
||||
|
Sterling Capital Partners IV, L.P.
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
0.20% limited partnership interest (6)(12)
|
|
|
|
|
|
620
|
|
|
594
|
|
||||
|
|
|
|
|
|
|
620
|
|
|
594
|
|
||||
|
Devicor Medical Products, Inc.
|
|
Healthcare equipment
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+5% (2% floor) cash due 7/8/2015 (15)
|
|
|
|
13,048
|
|
|
13,048
|
|
|
13,032
|
|
|||
|
|
|
|
|
|
|
13,048
|
|
|
13,032
|
|
||||
|
RP Crown Parent, LLC
|
|
Application software
|
|
|
|
|
|
|
||||||
|
First Lien Revolver, LIBOR+5.5% (1.25% floor) cash due 12/21/2017 (10)(15)
|
|
|
|
|
|
|
(509
|
)
|
|
—
|
|
|||
|
|
|
|
|
|
|
(509
|
)
|
|
—
|
|
||||
|
Advanced Pain Management Holdings, Inc.
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+8.5% (1.25% floor) cash due 2/26/2018 (15)
|
|
|
|
24,000
|
|
|
24,000
|
|
|
24,218
|
|
|||
|
|
|
|
|
|
|
24,000
|
|
|
24,218
|
|
||||
|
Rocket Software, Inc.
|
|
Internet software & services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+8.75% (1.5% floor) cash due 2/8/2019 (15)
|
|
|
|
10,475
|
|
|
10,441
|
|
|
10,471
|
|
|||
|
|
|
|
|
|
|
10,441
|
|
|
10,471
|
|
||||
|
TravelClick, Inc.
|
|
Internet software & services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+4.5% (1% floor) cash due 5/6/2019
|
|
|
|
5,000
|
|
|
5,000
|
|
|
5,000
|
|
|||
|
Second Lien Term Loan, LIBOR+7.75% (1% floor) cash due 11/8/2021 (15)
|
|
|
|
20,000
|
|
|
20,000
|
|
|
20,000
|
|
|||
|
|
|
|
|
|
|
25,000
|
|
|
25,000
|
|
||||
|
Portfolio Company/Type of Investment (1)(2)(5)
|
|
Industry
|
|
Principal (8)
|
|
|
Cost
|
|
|
Fair Value
|
|
||
|
Pingora MSR Opportunity Fund I, LP
|
|
Thrift & mortgage finance
|
|
|
|
|
|
|
|||||
|
1.90% limited partnership interest (12)
|
|
|
|
|
|
$
|
2,472
|
|
|
$
|
2,377
|
|
|
|
|
|
|
|
|
|
2,472
|
|
|
2,377
|
|
|||
|
Chicago Growth Partners III, LP
|
|
Multi-sector holdings
|
|
|
|
|
|
|
|||||
|
0.50% limited partnership interest (11)(12)
|
|
|
|
|
|
—
|
|
|
—
|
|
|||
|
|
|
|
|
|
|
—
|
|
|
—
|
|
|||
|
Credit Infonet, Inc.
|
|
Data processing & outsourced services
|
|
|
|
|
|
|
|||||
|
Subordinated Term Loan, 12.25% cash due 10/26/2018
|
|
|
|
13,250
|
|
|
13,250
|
|
|
13,269
|
|
||
|
|
|
|
|
|
|
13,250
|
|
|
13,269
|
|
|||
|
H.D. Vest, Inc.
|
|
Specialized finance
|
|
|
|
|
|
|
|||||
|
Second Lien Term Loan, LIBOR+8% (1.25% floor) cash due 6/18/2019 (16)
|
|
|
|
8,750
|
|
|
8,750
|
|
|
8,823
|
|
||
|
|
|
|
|
|
|
8,750
|
|
|
8,823
|
|
|||
|
2Checkout.com, Inc.
|
|
Diversified support services
|
|
|
|
|
|
|
|||||
|
First Lien Revolver, LIBOR+5% cash due 6/26/2016 (17)
|
|
|
|
2,150
|
|
|
2,148
|
|
|
2,150
|
|
||
|
|
|
|
|
|
|
2,148
|
|
|
2,150
|
|
|||
|
Meritas Schools Holdings, LLC
|
|
Education services
|
|
|
|
|
|
|
|||||
|
First Lien Term Loan, LIBOR+5.75% (1.25% floor) cash due 6/25/2019 (15)
|
|
|
|
9,893
|
|
|
9,893
|
|
|
9,900
|
|
||
|
|
|
|
|
|
|
9,893
|
|
|
9,900
|
|
|||
|
Personable Holdings, Inc.
|
|
Other diversified financial services
|
|
|
|
|
|
|
|||||
|
First Lien Term Loan, LIBOR+6% (1.25% floor) cash due 5/16/2018 (15)
|
|
|
|
10,688
|
|
|
10,688
|
|
|
10,752
|
|
||
|
First Lien Revolver, LIBOR+6% (1.25% floor) cash due 5/16/2018 (15)
|
|
|
|
1,585
|
|
|
1,585
|
|
|
1,585
|
|
||
|
|
|
|
|
|
|
12,273
|
|
|
12,337
|
|
|||
|
Royal Adhesives and Sealants, LLC
|
|
Specialty chemicals
|
|
|
|
|
|
|
|||||
|
Second Lien Term Loan, LIBOR+8.5% (1.25% floor) cash due 1/31/2019 (15)
|
|
|
|
13,500
|
|
|
13,500
|
|
|
13,524
|
|
||
|
|
|
|
|
|
|
13,500
|
|
|
13,524
|
|
|||
|
Bracket Holding Corp.
|
|
Healthcare services
|
|
|
|
|
|
|
|||||
|
Second Lien Term Loan, LIBOR+8.25% (1% floor) cash due 2/15/2020 (15)
|
|
|
|
32,000
|
|
|
32,000
|
|
|
31,392
|
|
||
|
50,000 Common Units in AB Group Holdings, LP
|
|
|
|
|
|
500
|
|
|
162
|
|
|||
|
|
|
|
|
|
|
32,500
|
|
|
31,554
|
|
|||
|
Salus CLO 2012-1, Ltd.
|
|
Asset management & custody banks
|
|
|
|
|
|
|
|||||
|
Class F Deferrable Notes - A, LIBOR+11.5% cash due 3/5/2021 (12)(19)
|
|
|
|
7,500
|
|
|
7,500
|
|
|
7,500
|
|
||
|
Class F Deferrable Notes - B, LIBOR+10.85% cash due 3/5/2021 (12)(19)
|
|
|
|
22,000
|
|
|
22,000
|
|
|
22,000
|
|
||
|
|
|
|
|
|
|
29,500
|
|
|
29,500
|
|
|||
|
HealthEdge Software, Inc.
|
|
Application software
|
|
|
|
|
|
|
|||||
|
Second Lien Term Loan, 12% cash due 9/30/2018
|
|
|
|
17,500
|
|
|
17,309
|
|
|
17,291
|
|
||
|
482,453 Series A-3 Preferred Stock Warrants (exercise price $1.450918)
|
|
|
|
|
|
213
|
|
|
296
|
|
|||
|
|
|
|
|
|
|
17,522
|
|
|
17,587
|
|
|||
|
InMotion Entertainment Group, LLC
|
|
Consumer electronics
|
|
|
|
|
|
|
|||||
|
First Lien Term Loan, LIBOR+7.75% (1.25% floor) cash due 10/1/2018 (14)
|
|
|
|
23,813
|
|
|
23,804
|
|
|
23,475
|
|
||
|
First Lien Revolver, LIBOR+6.75% (1.25% floor) cash due 10/1/2018 (14)
|
|
|
|
4,154
|
|
|
4,153
|
|
|
4,154
|
|
||
|
CapEx Line, LIBOR+7.75% (1.25% floor) cash due 10/1/2018 (14)
|
|
|
|
272
|
|
|
270
|
|
|
272
|
|
||
|
1,000,000 Class A Units in InMotion Entertainment Holdings, LLC
|
|
|
|
|
|
1,000
|
|
|
1,220
|
|
|||
|
|
|
|
|
|
|
29,227
|
|
|
29,121
|
|
|||
|
BMC Software Finance, Inc.
|
|
Application software
|
|
|
|
|
|
|
|||||
|
First Lien Revolver, LIBOR+4% (1% floor) cash due 9/10/2018 (20)
|
|
|
|
|
|
—
|
|
|
—
|
|
|||
|
|
|
|
|
|
|
—
|
|
|
—
|
|
|||
|
Portfolio Company/Type of Investment (1)(2)(5)
|
|
Industry
|
|
Principal (8)
|
|
|
Cost
|
|
|
Fair Value
|
|
|||
|
CT Technologies Intermediate Holdings, Inc.
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+8% (1.25% floor) cash due 10/4/2020 (15)
|
|
|
|
$
|
12,000
|
|
|
$
|
12,000
|
|
|
$
|
11,893
|
|
|
|
|
|
|
|
|
12,000
|
|
|
11,893
|
|
||||
|
Thing5, LLC
|
|
Data processing & outsourced services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+7% (1% floor) cash due 10/11/2018 (13)(15)
|
|
|
|
45,000
|
|
|
44,989
|
|
|
45,037
|
|
|||
|
First Lien Revolver, LIBOR+7% (1% floor) cash due 10/11/2018 (10)(15)
|
|
|
|
|
|
(1
|
)
|
|
—
|
|
||||
|
2,000,000 Common Units in T5 Investment Vehicle, LLC (6)
|
|
|
|
|
|
2,000
|
|
|
3,029
|
|
||||
|
|
|
|
|
|
|
46,988
|
|
|
48,066
|
|
||||
|
Epic Health Services, Inc.
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+8% (1.25% floor) cash due 10/18/2019 (15)
|
|
|
|
25,000
|
|
|
25,000
|
|
|
24,826
|
|
|||
|
|
|
|
|
|
|
25,000
|
|
|
24,826
|
|
||||
|
Kason Corporation
|
|
Industrial machinery
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 11.5% cash 1.75% PIK due 10/28/2019
|
|
|
|
5,670
|
|
|
5,670
|
|
|
5,558
|
|
|||
|
450 Class A Preferred Units in Kason Investment, LLC
|
|
|
|
|
|
450
|
|
|
392
|
|
||||
|
5,000 Class A Common Units in Kason Investment, LLC
|
|
|
|
|
|
50
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
6,170
|
|
|
5,950
|
|
||||
|
First Choice ER, LLC
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+7.5% (1% floor) cash due 10/31/2018 (14)
|
|
|
|
75,000
|
|
|
74,993
|
|
|
75,120
|
|
|||
|
First Lien Revolver, LIBOR+7.5% (1% floor) cash due 10/31/2018 (10)(14)
|
|
|
|
|
|
(1
|
)
|
|
—
|
|
||||
|
First Lien Delayed Draw Term Loan, LIBOR+7.5% (1% floor) cash due 4/30/2015 (14)
|
|
|
|
25,000
|
|
|
24,984
|
|
|
25,136
|
|
|||
|
|
|
|
|
|
|
99,976
|
|
|
100,256
|
|
||||
|
SPC Partners V, LP
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
0.4% limited partnership interest (6)(12)
|
|
|
|
|
|
429
|
|
|
372
|
|
||||
|
|
|
|
|
|
|
429
|
|
|
372
|
|
||||
|
Systems Maintenance Services Holdings, Inc.
|
|
IT consulting & other services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+8.25% (1% floor) cash due 10/18/2020 (15)
|
|
|
|
24,000
|
|
|
24,000
|
|
|
24,095
|
|
|||
|
|
|
|
|
|
|
24,000
|
|
|
24,095
|
|
||||
|
Vandelay Industries Merger Sub, Inc.
|
|
Industrial machinery
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, 10.75% cash 1% PIK due 11/12/2019
|
|
|
|
27,001
|
|
|
27,001
|
|
|
27,037
|
|
|||
|
2,500,000 Class A Common Units in Vandelay Industries, LP
|
|
|
|
|
|
2,500
|
|
|
3,291
|
|
||||
|
|
|
|
|
|
|
29,501
|
|
|
30,328
|
|
||||
|
Vitera Healthcare Solutions, LLC
|
|
Healthcare technology
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+5% (1% floor) cash due 11/4/2020 (20)
|
|
|
|
4,975
|
|
|
4,975
|
|
|
4,983
|
|
|||
|
Second Lien Term Loan, LIBOR+8.25% (1% floor) cash due 11/4/2021 (20)
|
|
|
|
8,000
|
|
|
8,000
|
|
|
8,067
|
|
|||
|
|
|
|
|
|
|
12,975
|
|
|
13,050
|
|
||||
|
SugarSync, Inc.
|
|
Internet software & services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+10% (0.5% floor) cash due 11/18/2016 (14)
|
|
|
|
6,500
|
|
|
6,500
|
|
|
6,447
|
|
|||
|
|
|
|
|
|
|
6,500
|
|
|
6,447
|
|
||||
|
The Active Network, Inc.
|
|
Internet software & services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+8.5% (1% floor) cash due 11/15/2021 (15)
|
|
|
|
13,600
|
|
|
13,600
|
|
|
13,649
|
|
|||
|
|
|
|
|
|
|
13,600
|
|
|
13,649
|
|
||||
|
OmniSYS Acquisition Corporation
|
|
Diversified support services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+7.5% (1% floor) cash due 11/21/2018 (21)
|
|
|
|
20,737
|
|
|
20,723
|
|
|
20,641
|
|
|||
|
First Lien Revolver, LIBOR+7.5% (1% floor) cash due 11/21/2018 (10)(21)
|
|
|
|
|
|
(2
|
)
|
|
—
|
|
||||
|
100,000 Common Units in OSYS Holdings, LLC
|
|
|
|
|
|
1,000
|
|
|
803
|
|
||||
|
|
|
|
|
|
|
21,721
|
|
|
21,444
|
|
||||
|
Med-Data, Incorporated
|
|
Diversified support services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+7.25% (1% floor) cash due 11/22/2018 (17)
|
|
|
|
38,954
|
|
|
38,940
|
|
|
38,802
|
|
|||
|
First Lien Revolver, LIBOR+7.25% (1% floor) cash due 11/22/2018 (10)(17)
|
|
|
|
|
|
(2
|
)
|
|
—
|
|
||||
|
|
|
|
|
|
|
38,938
|
|
|
38,802
|
|
||||
|
Portfolio Company/Type of Investment (1)(2)(5)
|
|
Industry
|
|
Principal (8)
|
|
Cost
|
|
Fair Value
|
||||||
|
All Web Leads, Inc.
|
|
Advertising
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+8% (1% floor) cash due 11/26/2018 (17)
|
|
|
|
$
|
35,210
|
|
|
$
|
35,195
|
|
|
$
|
34,911
|
|
|
First Lien Revolver, LIBOR+8% (1% floor) cash due 11/26/2018 (10)(17)
|
|
|
|
|
|
(2
|
)
|
|
—
|
|
||||
|
|
|
|
|
|
|
35,193
|
|
|
34,911
|
|
||||
|
Moelis Capital Partners Opportunity Fund I-B, LP
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
1.0% limited partnership interest (6)(12)
|
|
|
|
|
|
715
|
|
|
678
|
|
||||
|
|
|
|
|
|
|
715
|
|
|
678
|
|
||||
|
Aden & Anais Merger Sub, Inc.
|
|
Apparel, accessories & luxury goods
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 10% cash 2% PIK due 6/23/2019
|
|
|
|
12,127
|
|
|
12,127
|
|
|
12,167
|
|
|||
|
30,000 Common Units in Aden & Anais Holdings, Inc.
|
|
|
|
|
|
3,000
|
|
|
3,544
|
|
||||
|
|
|
|
|
|
|
15,127
|
|
|
15,711
|
|
||||
|
Lift Brands, Inc.
|
|
Leisure facilities
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+7.5% (1% floor) cash due 12/23/2019 (15)
|
|
|
|
59,000
|
|
|
58,967
|
|
|
59,048
|
|
|||
|
First Lien Revolver, LIBOR+7.5% (1% floor) cash due 12/23/2019 (15)
|
|
|
|
2,000
|
|
|
1,992
|
|
|
2,000
|
|
|||
|
2,000,000 Class A Common Units in Snap Investments, LLC
|
|
|
|
|
|
2,000
|
|
|
2,370
|
|
||||
|
|
|
|
|
|
|
62,959
|
|
|
63,418
|
|
||||
|
Tailwind Capital Partners II, LP
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
0.3% limited partnership interest (6)(12)
|
|
|
|
|
|
388
|
|
|
388
|
|
||||
|
|
|
|
|
|
|
388
|
|
|
388
|
|
||||
|
Long's Drugs Incorporated
|
|
Pharmaceuticals
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 11% cash 1% PIK due 1/31/2020
|
|
|
|
9,494
|
|
|
9,494
|
|
|
9,529
|
|
|||
|
50 Series A Preferred Shares in TWL Holdings Corp.
|
|
|
|
|
|
500
|
|
|
523
|
|
||||
|
|
|
|
|
|
|
9,994
|
|
|
10,052
|
|
||||
|
American Cadastre, LLC
|
|
Systems software
|
|
|
|
|
|
|
||||||
|
First Lien Revolver, LIBOR+5% (1% floor) cash due 8/14/2015 (14)
|
|
|
|
5,470
|
|
|
5,464
|
|
|
5,470
|
|
|||
|
|
|
|
|
|
|
5,464
|
|
|
5,470
|
|
||||
|
Five9, Inc.
|
|
Internet software & services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+9% (1% floor) cash due 2/20/2019 (14)
|
|
|
|
20,000
|
|
|
19,705
|
|
|
20,056
|
|
|||
|
118,577 Common Stock Warrants (exercise price $10.12)
|
|
|
|
|
|
321
|
|
|
304
|
|
||||
|
|
|
|
|
|
|
20,026
|
|
|
20,360
|
|
||||
|
Crealta Pharmaceuticals LLC
|
|
Pharmaceuticals
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, 12.75% cash due 8/21/2020
|
|
|
|
20,000
|
|
|
20,000
|
|
|
20,040
|
|
|||
|
|
|
|
|
|
|
20,000
|
|
|
20,040
|
|
||||
|
Conviva Inc.
|
|
Application software
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+8.75% (1% floor) cash due 2/28/2018 (14)
|
|
|
|
5,000
|
|
|
4,906
|
|
|
5,000
|
|
|||
|
417,851 Series D Preferred Stock Warrants (exercise price $1.1966)
|
|
|
|
|
|
105
|
|
|
92
|
|
||||
|
|
|
|
|
|
|
5,011
|
|
|
5,092
|
|
||||
|
OnCourse Learning Corporation
|
|
Education services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+7.5% (1% floor) cash due 2/28/2019 (14)
|
|
|
|
65,000
|
|
|
64,946
|
|
|
65,216
|
|
|||
|
First Lien Revolver, LIBOR+7.5% (1% floor) cash due 2/28/2019 (14)
|
|
|
|
1,000
|
|
|
996
|
|
|
1,000
|
|
|||
|
200,000 Class A Units in CIP OCL Investments, LLC
|
|
|
|
|
|
2,000
|
|
|
1,826
|
|
||||
|
|
|
|
|
|
|
67,942
|
|
|
68,042
|
|
||||
|
ShareThis, Inc.
|
|
Internet software & services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+10.5% (1% floor) cash due 3/5/2018 (14)
|
|
|
|
15,000
|
|
|
14,663
|
|
|
15,001
|
|
|||
|
345,452 Series C Preferred Stock Warrants (exercise price $3.0395)
|
|
|
|
|
|
367
|
|
|
328
|
|
||||
|
|
|
|
|
|
|
15,030
|
|
|
15,329
|
|
||||
|
Aegis Toxicology Sciences Corporation
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+8.5% (1% floor) cash due 8/24/2021 (15)
|
|
|
|
18,000
|
|
|
18,000
|
|
|
18,007
|
|
|||
|
|
|
|
|
|
|
18,000
|
|
|
18,007
|
|
||||
|
Aptean, Inc.
|
|
Internet software & services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+7.5% (1% floor) cash due 2/24/2021 (15)
|
|
|
|
3,000
|
|
|
3,000
|
|
|
3,028
|
|
|||
|
|
|
|
|
|
|
3,000
|
|
|
3,028
|
|
||||
|
Portfolio Company/Type of Investment (1)(2)(5)
|
|
Industry
|
|
Principal (8)
|
|
Cost
|
|
Fair Value
|
||||||
|
Desert NDT, LLC
|
|
Oil & gas equipment services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+7.5% (1% floor) cash due 3/26/2019 (16)
|
|
|
|
$
|
133,000
|
|
|
$
|
132,970
|
|
|
$
|
133,000
|
|
|
First Lien Revolver, LIBOR+7.5% (1% floor) cash due 3/26/2019 (16)
|
|
|
|
3,866
|
|
|
3,863
|
|
|
3,866
|
|
|||
|
|
|
|
|
|
|
136,833
|
|
|
136,866
|
|
||||
|
Integrated Petroleum Technologies, Inc.
|
|
Oil & gas equipment services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+7.5% (1% floor) cash due 3/31/2019 (15)
|
|
|
|
32,896
|
|
|
32,867
|
|
|
33,024
|
|
|||
|
First Lien Revolver, LIBOR+7.5% (1% floor) cash due 3/31/2019 (10)(15)
|
|
|
|
|
|
(5
|
)
|
|
—
|
|
||||
|
|
|
|
|
|
|
32,862
|
|
|
33,024
|
|
||||
|
Total Military Management, Inc.
|
|
Air freight and logistics
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+5.75% (1.25% floor) cash due 3/31/2019 (16)
|
|
|
|
13,261
|
|
|
13,261
|
|
|
13,305
|
|
|||
|
Delayed Draw Term Loan, LIBOR+5.75% (1.25% floor) cash due 3/31/2019 (16)
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
First Lien Revolver, LIBOR+5.75% (1.25% floor) cash due 3/31/2019 (16)
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
13,261
|
|
|
13,305
|
|
||||
|
ExamSoft Worldwide, Inc.
|
|
Internet software & services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+8% (1% floor) cash due 5/1/2019 (14)
|
|
|
|
15,000
|
|
|
14,825
|
|
|
15,000
|
|
|||
|
First Lien Revolver, LIBOR+8% (1% floor) cash due 5/1/2019 (14)
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
180,707 Class C Units in ExamSoft Investor LLC
|
|
|
|
|
|
181
|
|
|
181
|
|
||||
|
|
|
|
|
|
|
15,006
|
|
|
15,181
|
|
||||
|
Language Line, LLC
|
|
Integrated telecommunication services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+8.75% (1.75% floor) cash due 12/20/2016 (15)
|
|
|
|
6,600
|
|
|
6,591
|
|
|
6,600
|
|
|||
|
|
|
|
|
|
|
6,591
|
|
|
6,600
|
|
||||
|
DigiCert, Inc.
|
|
Internet software & services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+8.25% (1% floor) cash due 6/2/2020 (15)
|
|
|
|
42,000
|
|
|
42,000
|
|
|
42,000
|
|
|||
|
|
|
|
|
|
|
42,000
|
|
|
42,000
|
|
||||
|
Puerto Rico Cable Acquisition Company Inc.
|
|
Cable & satellite
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+8.5% (1% floor) cash due 5/30/2019 (12)(15)
|
|
|
|
27,000
|
|
|
27,000
|
|
|
27,000
|
|
|||
|
|
|
|
|
|
|
27,000
|
|
|
27,000
|
|
||||
|
RCPDirect II, L.P.
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
0.5% limited partnership interest (11)(12)
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
PR Wireless, Inc.
|
|
Integrated telecommunication services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+9% (1% floor) cash due 8/2/2020 (20)
|
|
|
|
10,000
|
|
|
10,000
|
|
|
10,000
|
|
|||
|
118.4211 Common Stock Warrants (exercise price $0.01)
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
10,000
|
|
|
10,000
|
|
||||
|
Total Non-Control/Non-Affiliate Investments (168.6% of net assets)
|
|
|
|
|
|
$
|
2,282,099
|
|
|
$
|
2,278,236
|
|
||
|
Total Portfolio Investments (194.5% of net assets)
|
|
|
|
|
|
$
|
2,616,409
|
|
|
$
|
2,627,817
|
|
||
|
(1)
|
All debt investments are income producing unless otherwise noted. Equity is non-income producing unless otherwise noted.
|
|
(2)
|
See Note 3 to the Consolidated Financial Statements for portfolio composition by geographic region.
|
|
(3)
|
Control Investments are defined by the Investment Company Act of 1940 (“1940 Act”) as investments in companies in which the Company owns more than 25% of the voting securities or maintains greater than 50% of the board representation.
|
|
(4)
|
Affiliate Investments are defined by the 1940 Act as investments in companies in which the Company owns between 5% and 25% of the voting securities.
|
|
(5)
|
Equity ownership may be held in shares or units of companies related to the portfolio companies.
|
|
(6)
|
Income producing through payment of dividends or distributions.
|
|
(7)
|
Non-Control/Non-Affiliate Investments are defined by the 1940 Act as investments that are neither Control Investments nor Affiliate Investments.
|
|
(8)
|
Principal includes accumulated PIK interest and is net of repayments.
|
|
Portfolio Company
|
|
Effective date
|
|
Cash interest
|
|
PIK interest
|
|
Reason
|
|
Dominion Diagnostics, LLC
|
|
April 8, 2014
|
|
|
|
- 1.0% on Term Loan
|
|
Per loan amendment
|
|
Phoenix Brands Merger Sub LLC
|
|
April 1, 2014
|
|
+ 0.75% on Senior Term Loan and Revolver - 10% on Subordinated Term Loan
|
|
+ 12.75% on Subordinated Term Loan
|
|
Tier pricing per loan agreement
|
|
Olson + Co., Inc.
|
|
December 13, 2013
|
|
+ 0.25% on Term Loan & Revolver
|
|
|
|
Per loan amendment
|
|
Discovery Practice Management, Inc.
|
|
November 4, 2013
|
|
- 2.25% on Term Loan A - 1.0% on Revolver
|
|
|
|
Per loan amendment
|
|
TransTrade Operators, Inc.
|
|
October 1, 2013
|
|
- 11.0% on Term Loan
|
|
+ 11.0% on Term Loan
|
|
Per loan amendment
|
|
HealthDrive Corporation
|
|
October 1, 2013
|
|
- 4.0% on Term Loan A
- 6.0% on Term Loan B
|
|
+ 6.0% on Term Loan A
+ 7.0% on Term Loan B
|
|
Per loan amendment
|
|
Miche Bag, LLC
|
|
July 26, 2013
|
|
- 3.0% on Term Loan B
|
|
- 1.0% on Term Loan B
|
|
Per loan amendment
|
|
Ansira Partners, Inc.
|
|
June 30, 2013
|
|
- 0.5% on Term Loan & Revolver
|
|
|
|
Tier pricing per loan agreement
|
|
Drugtest, Inc.
|
|
June 27, 2013
|
|
- 1.5% on Term Loan A
- 0.75% on Term Loan B - 0.25% on Revolver |
|
- 0.5% on Term Loan B
|
|
Per loan amendment
|
|
The MedTech Group, Inc.
|
|
June 21, 2013
|
|
- 0.50% on Term Loan
|
|
|
|
Per loan amendment
|
|
Physicians Pharmacy Alliance, Inc.
|
|
April 1, 2013
|
|
+ 1.0% on Term Loan
|
|
+ 1.0% on Term Loan
|
|
Per loan agreement
|
|
Deltek, Inc.
|
|
February 1, 2013
|
|
- 1.0% on Revolver
|
|
|
|
Per loan amendment
|
|
JTC Education, Inc.
|
|
January 1, 2013
|
|
+ 0.25% on Term Loan
|
|
|
|
Per loan amendment
|
|
Mansell Group, Inc.
|
|
January 1, 2013
|
|
+ 2.0% on Term Loan A and Term Loan B
|
|
|
|
Per loan agreement
|
|
CCCG, LLC
|
|
November 15, 2012
|
|
+ 0.5% on Term Loan
|
|
+ 1.0% on Term Loan
|
|
Per loan amendment
|
|
Yeti Acquisition, LLC
|
|
October 1, 2012
|
|
– 1.0% on Term Loan A,
Term Loan B & Revolver
|
|
|
|
Tier pricing per loan
agreement
|
|
(10)
|
Investment has undrawn commitments and a negative cost basis as a result of unamortized fees. Unamortized fees are classified as unearned income which reduces cost basis.
|
|
(11)
|
Represents an unfunded commitment to fund limited partnership interest.
|
|
(12)
|
Investment is not a "qualifying asset" as defined under Section 55(a) of the 1940 Act, in whole or in part.
|
|
(13)
|
The sale of a portion of this loan does not qualify for sale accounting under ASC Topic 860 -
Transfers and Servicing
, and therefore, the entire debt investment remains in the Schedule of Investments. (See Note 15 in the accompanying notes to the Consolidated Financial Statements.)
|
|
(14)
|
The principal balance outstanding for this debt investment, in whole or in part, is indexed to 90-day LIBOR.
|
|
(15)
|
The principal balance outstanding for this debt investment, in whole or in part, is indexed to 30-day, 60-day, 90-day or 180-day LIBOR, at the borrower's option.
|
|
(16)
|
The principal balance outstanding for this debt investment, in whole or in part, is indexed to 30-day, 60-day or 90-day LIBOR, at the borrower's option.
|
|
(17)
|
The principal balance outstanding for this debt investment, in whole or in part, is indexed to 30-day LIBOR.
|
|
(18)
|
The principal balance outstanding for this debt investment, in whole or in part, is indexed to 30-day or 60-day LIBOR, at the borrower's option.
|
|
(19)
|
The principal balance outstanding for this debt investment, in whole or in part, is indexed to 180-day LIBOR.
|
|
(20)
|
The principal balance outstanding for this debt investment, in whole or in part, is indexed to 30-day, 90-day or 180-day LIBOR, at the borrower's option.
|
|
(21)
|
The principal balance outstanding for this debt investment, in whole or in part, is indexed to 30-day or 90-day LIBOR, at the borrower's option.
|
|
(22)
|
Each of the Company's investments are pledged as collateral under one or more of its credit facilities. A single investment may be divided into parts that are individually pledged as collateral to separate credit facilities.
|
|
(23)
|
The Company, through its investments in HFG Holdings LLC, acquired a majority equity interest in Healthcare Finance Group, LLC, which provides financing to healthcare companies. The fair value of the Company’s debt and equity investments in HFG Holdings approximates the fair value of HFG Holdings’ equity investment in Healthcare Finance Group, LLC.
|
|
Portfolio Company/Type of Investment (1)(2)(5)(21)
|
|
Industry
|
|
Principal (8)
|
|
|
Cost
|
|
Fair Value
|
|||||
|
Control Investments (3)
|
|
|
|
|
|
|
|
|
||||||
|
Traffic Solutions Holdings, Inc.
|
|
Construction and engineering
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, 12% cash 3% PIK due 12/31/2016
|
|
|
|
$
|
14,494
|
|
|
$
|
14,480
|
|
|
$
|
14,499
|
|
|
LC Facility, 8.5% cash due 12/31/2016 (10)
|
|
|
|
|
|
(5
|
)
|
|
—
|
|
||||
|
746,114 Series A Preferred Units
|
|
|
|
|
|
12,786
|
|
|
15,891
|
|
||||
|
746,114 Class A Common Stock Units
|
|
|
|
|
|
5,316
|
|
|
10,529
|
|
||||
|
|
|
|
|
|
|
32,577
|
|
|
40,919
|
|
||||
|
TransTrade Operators, Inc.
|
|
Air freight and logistics
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, 11% cash 3% PIK due 5/31/2016
|
|
|
|
13,660
|
|
|
13,660
|
|
|
13,524
|
|
|||
|
596.67 Series A Common Units in TransTrade Holding LLC
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
3,033,333.33 Preferred Units in TransTrade Holding LLC
|
|
|
|
|
3,033
|
|
|
539
|
|
|||||
|
|
|
|
|
|
|
16,693
|
|
|
14,063
|
|
||||
|
HFG Holdings, LLC (22)
|
|
Specialized finance
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, 6% cash 4% PIK due 6/10/2019
|
|
|
|
93,135
|
|
|
93,135
|
|
|
93,297
|
|
|||
|
860,000 Class A Units (12)
|
|
|
|
|
|
22,347
|
|
|
22,346
|
|
||||
|
|
|
|
|
|
|
115,482
|
|
|
115,643
|
|
||||
|
First Star Aviation LLC
|
|
Airlines
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, 9% cash 3% PIK due 1/9/2018
|
|
|
|
19,211
|
|
|
19,211
|
|
|
19,211
|
|
|||
|
5,264,207 Common Units
|
|
|
|
|
|
5,264
|
|
|
5,264
|
|
||||
|
|
|
|
|
|
|
24,475
|
|
|
24,475
|
|
||||
|
Eagle Hospital Physicians, LLC (13)
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, 8% PIK due 8/1/2016
|
|
|
|
11,150
|
|
|
11,150
|
|
|
11,149
|
|
|||
|
First Lien Term Loan B, 8.1% PIK due 8/1/2016
|
|
|
|
3,041
|
|
|
3,041
|
|
|
3,050
|
|
|||
|
First Lien Revolver, 8% cash due 8/1/2016
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
4,100,000 Class A Common Units
|
|
|
|
|
|
4,100
|
|
|
6,203
|
|
||||
|
|
|
|
|
|
|
18,291
|
|
|
20,402
|
|
||||
|
Total Control Investments (15.7% of net assets)
|
|
|
|
|
|
$
|
207,518
|
|
|
$
|
215,502
|
|
||
|
Affiliate Investments (4)
|
|
|
|
|
|
|
|
|
||||||
|
Caregiver Services, Inc.
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
1,080,399 shares of Series A Preferred Stock
|
|
|
|
|
|
$
|
1,080
|
|
|
$
|
3,256
|
|
||
|
|
|
|
|
|
|
1,080
|
|
|
3,256
|
|
||||
|
AmBath/ReBath Holdings, Inc. (9)
|
|
Home improvement retail
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, LIBOR+7% (3% floor) cash due 4/30/2016 (15)
|
|
|
|
$
|
3,223
|
|
|
3,219
|
|
|
3,272
|
|
||
|
First Lien Term Loan B, 12.5% cash 2.5% PIK due 4/30/2016
|
|
|
|
25,515
|
|
|
25,508
|
|
|
25,317
|
|
|||
|
4,668,788 Shares of Preferred Stock
|
|
|
|
|
|
—
|
|
|
87
|
|
||||
|
|
|
|
|
|
|
28,727
|
|
|
28,676
|
|
||||
|
Total Affiliate Investments (2.3% of net assets)
|
|
|
|
|
|
$
|
29,807
|
|
|
$
|
31,932
|
|
||
|
Non-Control/Non-Affiliate Investments (7)
|
|
|
|
|
|
|
|
|
||||||
|
Fitness Edge, LLC
|
|
Leisure facilities
|
|
|
|
|
|
|
||||||
|
1,000 Common Units (6)
|
|
|
|
|
|
$
|
43
|
|
|
$
|
190
|
|
||
|
|
|
|
|
|
|
43
|
|
|
190
|
|
||||
|
Capital Equipment Group, Inc. (9)
|
|
Industrial machinery
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, 12% cash 2.75% PIK due 12/27/2015
|
|
|
|
$
|
4,007
|
|
|
4,007
|
|
|
4,003
|
|
||
|
33,786 shares of Common Stock
|
|
|
|
|
|
345
|
|
|
1,206
|
|
||||
|
|
|
|
|
|
|
4,352
|
|
|
5,209
|
|
||||
|
Western Emulsions, Inc.
|
|
Construction materials
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, 12.5% cash 2.5% PIK due 6/30/2014
|
|
|
|
7,200
|
|
|
7,170
|
|
|
7,297
|
|
|||
|
|
|
|
|
|
|
7,170
|
|
|
7,297
|
|
||||
|
HealthDrive Corporation (9)
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, 10% cash due 7/17/2014
|
|
|
|
4,151
|
|
|
4,148
|
|
|
4,213
|
|
|||
|
First Lien Term Loan B, 12% cash 1% PIK due 7/17/2014
|
|
|
|
10,573
|
|
|
10,573
|
|
|
10,497
|
|
|||
|
First Lien Revolver, 12% cash due 7/17/2014
|
|
|
|
2,266
|
|
|
2,266
|
|
|
2,266
|
|
|||
|
|
|
|
|
|
|
16,987
|
|
|
16,976
|
|
||||
|
Portfolio Company/Type of Investment (1)(2)(5)
|
|
Industry
|
|
Principal (8)
|
|
|
Cost
|
|
|
Fair Value
|
|
|||
|
Cenegenics, LLC
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, 9.75% cash due 9/30/2019
|
|
|
|
$
|
33,500
|
|
|
$
|
33,468
|
|
|
$
|
33,527
|
|
|
414,419 Common Units (6)
|
|
|
|
|
|
598
|
|
|
1,317
|
|
||||
|
|
|
|
|
|
|
34,066
|
|
|
34,844
|
|
||||
|
Riverlake Equity Partners II, LP
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
1.78% limited partnership interest (6)(12)
|
|
|
|
|
|
362
|
|
|
325
|
|
||||
|
|
|
|
|
|
|
362
|
|
|
325
|
|
||||
|
Riverside Fund IV, LP
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
0.34% limited partnership interest (6)(12)
|
|
|
|
|
|
713
|
|
|
658
|
|
||||
|
|
|
|
|
|
|
713
|
|
|
658
|
|
||||
|
Psilos Group Partners IV, LP
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
2.35% limited partnership interest (11)(12)
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
Mansell Group, Inc. (9)
|
|
Advertising
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, LIBOR+7% (3% floor) cash due 4/30/2015 (15)
|
|
|
|
6,551
|
|
|
6,498
|
|
|
6,616
|
|
|||
|
First Lien Term Loan B, LIBOR+9% (3% floor) cash 1.5% PIK due 4/30/2015 (15)
|
|
|
|
9,424
|
|
|
9,362
|
|
|
9,510
|
|
|||
|
First Lien Revolver, LIBOR+6% (3% floor) cash due 4/30/2015 (10)(15)
|
|
|
|
—
|
|
|
(13
|
)
|
|
—
|
|
|||
|
|
|
|
|
|
|
15,847
|
|
|
16,126
|
|
||||
|
Enhanced Recovery Company, LLC
|
|
Diversified support services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, LIBOR+7% (2% floor) cash due 8/13/2015 (15)
|
|
|
|
11,500
|
|
|
11,398
|
|
|
11,522
|
|
|||
|
First Lien Term Loan B, LIBOR+10% (2% floor) cash 1% PIK due 8/13/2015 (15)
|
|
|
|
16,013
|
|
|
15,913
|
|
|
15,999
|
|
|||
|
First Lien Revolver, LIBOR+7% (2% floor) cash due 8/13/2015 (15)
|
|
|
|
500
|
|
|
463
|
|
|
500
|
|
|||
|
|
|
|
|
|
|
27,774
|
|
|
28,021
|
|
||||
|
Specialty Bakers LLC
|
|
Food distributors
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, LIBOR+8.5% cash due 9/15/2015 (15)
|
|
|
|
3,720
|
|
|
3,596
|
|
|
3,721
|
|
|||
|
First Lien Term Loan B, LIBOR+11% (2.5% floor) cash due 9/15/2015 (15)
|
|
|
|
11,000
|
|
|
10,882
|
|
|
11,011
|
|
|||
|
First Lien Revolver, LIBOR+8.5% cash due 9/15/2015 (15)
|
|
|
|
4,000
|
|
|
3,957
|
|
|
4,000
|
|
|||
|
|
|
|
|
|
|
18,435
|
|
|
18,732
|
|
||||
|
Welocalize, Inc.
|
|
Internet software & services
|
|
|
|
|
|
|
||||||
|
3,393,060 Common Units in RPWL Holdings, LLC
|
|
|
|
|
|
3,393
|
|
|
7,695
|
|
||||
|
|
|
|
|
|
|
3,393
|
|
|
7,695
|
|
||||
|
Miche Bag, LLC (9)
|
|
Apparel, accessories & luxury goods
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan B, LIBOR+10% (3% floor) 3% PIK due 12/7/2015 (15)
|
|
|
|
17,576
|
|
|
16,307
|
|
|
17,514
|
|
|||
|
First Lien Revolver, LIBOR+7% (3% floor) cash due 12/7/2015 (10)(15)
|
|
|
|
|
|
(33
|
)
|
|
—
|
|
||||
|
10,371 Series A Preferred Equity units in Miche Bag Holdings, LLC
|
|
|
|
|
|
1,037
|
|
|
419
|
|
||||
|
1,358.854 Series C Preferred Equity units in Miche Bag Holdings, LLC
|
|
|
|
|
|
136
|
|
|
—
|
|
||||
|
19,417 Series A Common Equity units in Miche Bag Holdings, LLC
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
146,289 Series D Common Equity units in Miche Bag Holdings, LLC
|
|
|
|
|
|
1,463
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
18,910
|
|
|
17,933
|
|
||||
|
Portfolio Company/Type of Investment (1)(2)(5)
|
|
Industry
|
|
Principal (8)
|
|
|
Cost
|
|
|
Fair Value
|
|
|||
|
Bunker Hill Capital II (QP), LP
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
0.51% limited partnership interest (12)
|
|
|
|
|
|
$
|
214
|
|
|
$
|
121
|
|
||
|
|
|
|
|
|
|
214
|
|
|
121
|
|
||||
|
Drugtest, Inc. (9)
|
|
Human resources & employment services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, LIBOR+7.5% (0.75% floor) cash due 6/27/2018 (15)
|
|
|
|
$
|
38,809
|
|
|
38,702
|
|
|
38,864
|
|
||
|
First Lien Term Loan B, LIBOR+10% (1% floor) 1.5% PIK due 6/27/2018 (15)
|
|
|
|
15,752
|
|
|
15,682
|
|
|
15,899
|
|
|||
|
First Lien Revolver, LIBOR+6% (1% floor) cash due 6/27/2018 (10)(15)
|
|
|
|
|
|
(34
|
)
|
|
—
|
|
||||
|
|
|
|
|
|
|
54,350
|
|
|
54,763
|
|
||||
|
Saddleback Fence and Vinyl Products, Inc. (9)
|
|
Building products
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, 8% cash due 11/30/2013
|
|
|
|
635
|
|
|
635
|
|
|
635
|
|
|||
|
First Lien Revolver, 8% cash due 11/30/2013
|
|
|
|
100
|
|
|
100
|
|
|
100
|
|
|||
|
|
|
|
|
|
|
735
|
|
|
735
|
|
||||
|
Physicians Pharmacy Alliance, Inc. (9)
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+9% cash 1.5% PIK due 1/4/2016 (15)
|
|
|
|
11,435
|
|
|
11,266
|
|
|
11,399
|
|
|||
|
First Lien Revolver, LIBOR+6% cash due 1/4/2016 (10)(15)
|
|
|
|
|
|
(20
|
)
|
|
—
|
|
||||
|
|
|
|
|
|
|
11,246
|
|
|
11,399
|
|
||||
|
Cardon Healthcare Network, LLC
|
|
Diversified support services
|
|
|
|
|
|
|
||||||
|
65,903 Class A Units
|
|
|
|
|
|
250
|
|
|
523
|
|
||||
|
|
|
|
|
|
|
250
|
|
|
523
|
|
||||
|
Phoenix Brands Merger Sub LLC (9)
|
|
Household products
|
|
|
|
|
|
|
||||||
|
Senior Term Loan, LIBOR+5% (1.5% floor) cash due 1/31/2016 (16)
|
|
|
|
5,518
|
|
|
5,432
|
|
|
5,423
|
|
|||
|
Subordinated Term Loan, 10% cash 3.875% PIK due 2/1/2017
|
|
|
|
21,610
|
|
|
21,323
|
|
|
20,842
|
|
|||
|
Senior Revolver, LIBOR+5% (1.5% floor) cash due 1/31/2016 (16)
|
|
|
|
3,000
|
|
|
2,922
|
|
|
3,000
|
|
|||
|
|
|
|
|
|
|
29,677
|
|
|
29,265
|
|
||||
|
CCCG, LLC (9)
|
|
Oil & gas equipment services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+8% (1.75% floor) cash 1% PIK due 12/29/2017 (16)
|
|
|
|
35,148
|
|
|
34,717
|
|
|
34,988
|
|
|||
|
First Lien Revolver, LIBOR+5.5% (1.75% floor) cash due 12/31/2014 (16)
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
34,717
|
|
|
34,988
|
|
||||
|
Maverick Healthcare Group, LLC
|
|
Healthcare equipment
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, LIBOR+9% (1.75% floor) cash due 12/31/2016 (17)
|
|
|
|
9,950
|
|
|
9,950
|
|
|
9,956
|
|
|||
|
First Lien Term Loan B, LIBOR+9% (1.75% floor) cash due 12/31/2016 (17)
|
|
|
|
38,900
|
|
|
38,546
|
|
|
38,838
|
|
|||
|
|
|
|
|
|
|
48,496
|
|
|
48,794
|
|
||||
|
Refac Optical Group (14)
|
|
Specialty stores
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, LIBOR+7.5% cash due 9/30/2018 (18)
|
|
|
|
24,674
|
|
|
24,510
|
|
|
24,923
|
|
|||
|
First Lien Term Loan B, LIBOR+8.5% cash 1.75% PIK due 9/30/2018 (18)
|
|
|
|
32,932
|
|
|
32,639
|
|
|
33,205
|
|
|||
|
First Lien Term Loan C, 12% cash due 12/31/2014
|
|
|
|
10,000
|
|
|
10,000
|
|
|
10,013
|
|
|||
|
First Lien Revolver, LIBOR+7.5% cash due 9/30/2018 (10)(18)
|
|
|
|
|
|
(69
|
)
|
|
—
|
|
||||
|
1,550.9435 Shares of Common Stock in Refac Holdings, Inc.
|
|
|
|
|
|
1
|
|
|
—
|
|
||||
|
500.9435 Shares of Series A-2 Preferred Stock in Refac Holdings, Inc.
|
|
|
|
|
|
305
|
|
|
—
|
|
||||
|
1,000 Shares of Series A Preferred Stock in Refac Holdings, Inc.
|
|
|
|
|
|
999
|
|
|
884
|
|
||||
|
|
|
|
|
|
|
68,385
|
|
|
69,025
|
|
||||
|
GSE Environmental, Inc. (9)
|
|
Environmental & facilities services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+5.5% (1.5% floor) cash due 5/27/2016 (16)
|
|
|
|
8,812
|
|
|
8,755
|
|
|
8,113
|
|
|||
|
|
|
|
|
|
|
8,755
|
|
|
8,113
|
|
||||
|
Baird Capital Partners V, LP
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
0.40% limited partnership interest (12)
|
|
|
|
|
|
649
|
|
|
728
|
|
||||
|
|
|
|
|
|
|
649
|
|
|
728
|
|
||||
|
Portfolio Company/Type of Investment (1)(2)(5)
|
|
Industry
|
|
Principal (8)
|
|
|
Cost
|
|
|
Fair Value
|
|
|||
|
Charter Brokerage, LLC
|
|
Oil & gas equipment services
|
|
|
|
|
|
|
||||||
|
Senior Term Loan, LIBOR+6.5% (1.5% floor) cash due 10/10/2016 (17)
|
|
|
|
$
|
28,914
|
|
|
$
|
28,828
|
|
|
$
|
29,462
|
|
|
Subordinated Term Loan, 11.75% cash 2% PIK due 10/10/2017
|
|
|
|
11,976
|
|
|
11,921
|
|
|
12,004
|
|
|||
|
Senior Revolver, LIBOR+6.5% (1.5% floor) cash due 10/10/2016 (10)(17)
|
|
|
|
|
|
(40
|
)
|
|
—
|
|
||||
|
|
|
|
|
|
|
40,709
|
|
|
41,466
|
|
||||
|
Stackpole Powertrain International Holding, L.P.
|
|
Auto parts & equipment
|
|
|
|
|
|
|
||||||
|
1,000 Common Units (12)
|
|
|
|
|
|
1,000
|
|
|
3,200
|
|
||||
|
|
|
|
|
|
|
1,000
|
|
|
3,200
|
|
||||
|
Discovery Practice Management, Inc. (9)
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, LIBOR+7.5% cash due 8/8/2016 (15)
|
|
|
|
5,756
|
|
|
5,706
|
|
|
5,761
|
|
|||
|
First Lien Term Loan B, 12% cash 3% PIK due 8/8/2016 (15)
|
|
|
|
6,606
|
|
|
6,559
|
|
|
6,608
|
|
|||
|
First Lien Revolver, LIBOR+7% cash due 8/8/2016 (15)
|
|
|
|
3,000
|
|
|
2,977
|
|
|
3,000
|
|
|||
|
|
|
|
|
|
|
15,242
|
|
|
15,369
|
|
||||
|
CTM Group, Inc.
|
|
Leisure products
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan A, 11% cash 2% PIK due 2/10/2017
|
|
|
|
10,966
|
|
|
10,896
|
|
|
11,024
|
|
|||
|
Subordinated Term Loan B, 18.4% PIK due 2/10/2017
|
|
|
|
4,553
|
|
|
4,532
|
|
|
4,559
|
|
|||
|
|
|
|
|
|
|
15,428
|
|
|
15,583
|
|
||||
|
Milestone Partners IV, LP
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
0.86% limited partnership interest (6)(12)
|
|
|
|
|
|
586
|
|
|
638
|
|
||||
|
|
|
|
|
|
|
586
|
|
|
638
|
|
||||
|
Insight Pharmaceuticals LLC
|
|
Pharmaceuticals
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+11.75% (1.5% floor) cash due 8/25/2017 (16)
|
|
|
|
13,517
|
|
|
13,439
|
|
|
13,607
|
|
|||
|
|
|
|
|
|
|
13,439
|
|
|
13,607
|
|
||||
|
National Spine and Pain Centers, LLC
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 11% cash 1.6% PIK due 9/27/2017
|
|
|
|
29,263
|
|
|
29,084
|
|
|
29,535
|
|
|||
|
317,282.97 Class A Units
|
|
|
|
|
|
317
|
|
|
404
|
|
||||
|
|
|
|
|
|
|
29,401
|
|
|
29,939
|
|
||||
|
RCPDirect, LP
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
0.91% limited partnership interest (6)(12)
|
|
|
|
|
|
476
|
|
|
569
|
|
||||
|
|
|
|
|
|
|
476
|
|
|
569
|
|
||||
|
The MedTech Group, Inc. (9)
|
|
Healthcare equipment
|
|
|
|
|
|
|
||||||
|
Senior Term Loan, LIBOR+5.5% (1.25% floor) cash due 9/7/2016 (16)
|
|
|
|
12,448
|
|
|
12,379
|
|
|
12,454
|
|
|||
|
|
|
|
|
|
|
12,379
|
|
|
12,454
|
|
||||
|
Digi-Star Acquisition Holdings, Inc.
|
|
Industrial machinery
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 12% cash 1.5% PIK due 11/18/2017
|
|
|
|
12,316
|
|
|
12,231
|
|
|
12,439
|
|
|||
|
264.37 Class A Preferred Units
|
|
|
|
|
|
264
|
|
|
304
|
|
||||
|
2,954.87 Class A Common Units
|
|
|
|
|
|
36
|
|
|
246
|
|
||||
|
|
|
|
|
|
|
12,531
|
|
|
12,989
|
|
||||
|
CPASS Acquisition Company
|
|
Internet software & services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+9% (1.5% floor) cash 1% PIK due 11/21/2016 (15)
|
|
|
|
8,069
|
|
|
8,005
|
|
|
8,166
|
|
|||
|
First Lien Revolver, LIBOR+9% (1.5% floor) cash due 11/21/2016 (10)(15)
|
|
|
|
|
|
(12
|
)
|
|
—
|
|
||||
|
|
|
|
|
|
|
7,993
|
|
|
8,166
|
|
||||
|
Genoa Healthcare Holdings, LLC
|
|
Pharmaceuticals
|
|
|
|
|
|
|
||||||
|
Senior Term Loan, LIBOR+5.25% (1.25% floor) cash due 12/1/2016 (16)
|
|
|
|
8,775
|
|
|
8,775
|
|
|
8,797
|
|
|||
|
Subordinated Term Loan, 12% cash 2% PIK due 6/1/2017
|
|
|
|
12,973
|
|
|
12,890
|
|
|
13,206
|
|
|||
|
Senior Revolver, LIBOR+5.25% (1.25% floor) cash due 12/1/2016 (16)
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
500,000 Preferred units (6)
|
|
|
|
|
|
261
|
|
|
275
|
|
||||
|
500,000 Class A Common Units
|
|
|
|
|
|
25
|
|
|
466
|
|
||||
|
|
|
|
|
|
|
21,951
|
|
|
22,744
|
|
||||
|
Portfolio Company/Type of Investment (1)(2)(5)
|
|
Industry
|
|
Principal (8)
|
|
|
Cost
|
|
|
Fair Value
|
|
|||
|
ACON Equity Partners III, LP
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
0.15% limited partnership interest (6)(12)
|
|
|
|
|
|
$
|
329
|
|
|
$
|
361
|
|
||
|
|
|
|
|
|
|
329
|
|
|
361
|
|
||||
|
CRGT, Inc.
|
|
IT consulting & other services
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 12.5% cash 3% PIK due 3/9/2018
|
|
|
|
$
|
26,741
|
|
|
26,553
|
|
|
27,445
|
|
||
|
|
|
|
|
|
|
26,553
|
|
|
27,445
|
|
||||
|
Riverside Fund V, LP
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
0.48% limited partnership interest (12)
|
|
|
|
|
|
288
|
|
|
239
|
|
||||
|
|
|
|
|
|
|
288
|
|
|
239
|
|
||||
|
World 50, Inc.
|
|
Research & consulting services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, LIBOR+6.25% (1.5% floor) cash due 3/30/2017 (19)
|
|
|
|
10,718
|
|
|
10,622
|
|
|
10,834
|
|
|||
|
First Lien Term Loan B, 12.5% cash due 3/30/2017
|
|
|
|
7,000
|
|
|
6,941
|
|
|
7,078
|
|
|||
|
Senior Revolver, LIBOR+6.25% (1.5% floor) cash due 3/30/2017 (10)(19)
|
|
|
|
|
|
(42
|
)
|
|
—
|
|
||||
|
|
|
|
|
|
|
17,521
|
|
|
17,912
|
|
||||
|
Nixon, Inc.
|
|
Apparel, accessories & luxury goods
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, 8.75% cash 2.75% PIK due 4/16/2018
|
|
|
|
9,551
|
|
|
9,476
|
|
|
9,791
|
|
|||
|
|
|
|
|
|
|
9,476
|
|
|
9,791
|
|
||||
|
JTC Education, Inc. (9)
|
|
Education services
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 13% cash due 11/1/2017
|
|
|
|
14,500
|
|
|
14,415
|
|
|
14,503
|
|
|||
|
17,391 Shares of Series A-1 Preferred Stock
|
|
|
|
|
|
313
|
|
|
174
|
|
||||
|
17,391 Shares of Common Stock
|
|
|
|
|
|
187
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
14,915
|
|
|
14,677
|
|
||||
|
BMC Acquisition, Inc.
|
|
Diversified financial services
|
|
|
|
|
|
|
||||||
|
Senior Term Loan, LIBOR+5.5% (1% floor) cash due 5/1/2017 (16)
|
|
|
|
5,315
|
|
|
5,285
|
|
|
5,311
|
|
|||
|
Senior Revolver, LIBOR+5% (1% floor) cash due 5/1/2017 (10)(16)
|
|
|
|
|
|
(7
|
)
|
|
—
|
|
||||
|
500 Series A Preferred Shares
|
|
|
|
|
|
500
|
|
|
534
|
|
||||
|
50,000 Common Shares
|
|
|
|
|
|
1
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
5,779
|
|
|
5,845
|
|
||||
|
Ansira Partners, Inc. (9)
|
|
Advertising
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+5.5% (1.5% floor) cash due 5/4/2017 (16)
|
|
|
|
10,593
|
|
|
10,529
|
|
|
10,580
|
|
|||
|
First Lien Revolver, LIBOR+5.5% (1.5% floor) cash due 5/4/2017 (10)(16)
|
|
|
|
|
|
(6
|
)
|
|
—
|
|
||||
|
250 Preferred Units & 250 Class A Common Units of Ansira Holdings, LLC
|
|
|
|
|
|
250
|
|
|
334
|
|
||||
|
|
|
|
|
|
|
10,773
|
|
|
10,914
|
|
||||
|
Edmentum, Inc.
|
|
Education services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+9.75% (1.5% floor) cash due 5/17/2019 (16)
|
|
|
|
17,000
|
|
|
17,000
|
|
|
17,288
|
|
|||
|
|
|
|
|
|
|
17,000
|
|
|
17,288
|
|
||||
|
Portfolio Company/Type of Investment (1)(2)(5)
|
|
Industry
|
|
Principal (8)
|
|
|
Cost
|
|
|
Fair Value
|
|
|||
|
I Drive Safely, LLC
|
|
Education services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+8.5% (1.5% floor) cash due 5/25/2017 (18)
|
|
|
|
$
|
27,000
|
|
|
$
|
26,975
|
|
|
$
|
27,521
|
|
|
First Lien Revolver, LIBOR+6.5% (1.5% floor) cash due 5/25/2017 (10)(18)
|
|
|
|
|
|
(5
|
)
|
|
—
|
|
||||
|
75,000 Class A Common Units of IDS Investments, LLC
|
|
|
|
|
|
750
|
|
|
755
|
|
||||
|
|
|
|
|
|
|
27,720
|
|
|
28,276
|
|
||||
|
Yeti Acquisition, LLC (9)
|
|
Leisure products
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, LIBOR+8% (1.25% floor) cash due 6/15/2017 (15)
|
|
|
|
18,345
|
|
|
18,317
|
|
|
18,523
|
|
|||
|
First Lien Term Loan B, LIBOR+11.25% (1.25% floor) cash 1% PIK due 6/15/2017 (15)
|
|
|
|
12,000
|
|
|
11,988
|
|
|
12,089
|
|
|||
|
First Lien Revolver, LIBOR+8% (1.25% floor) cash due 6/15/2017 (10)(15)
|
|
|
|
|
|
(10
|
)
|
|
—
|
|
||||
|
1,500 Common Stock Units of Yeti Holdings, Inc.
|
|
|
|
|
|
1,500
|
|
|
3,755
|
|
||||
|
|
|
|
|
|
|
31,795
|
|
|
34,367
|
|
||||
|
Specialized Education Services, Inc.
|
|
Education services
|
|
|
|
|
|
|
||||||
|
Senior Term Loan, LIBOR+5.5% (1.5% floor) cash due 6/28/2017 (16)
|
|
|
|
8,988
|
|
|
8,988
|
|
|
9,056
|
|
|||
|
Subordinated Term Loan, 11% cash 1.5% PIK due 6/28/2018
|
|
|
|
17,839
|
|
|
17,839
|
|
|
18,200
|
|
|||
|
|
|
|
|
|
|
26,827
|
|
|
27,256
|
|
||||
|
PC Helps Support, LLC
|
|
IT consulting & other services
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 12% cash 1.5% PIK due 9/5/2018
|
|
|
|
18,804
|
|
|
18,804
|
|
|
18,989
|
|
|||
|
675 Series A Preferred Units of PCH Support Holdings, Inc.
|
|
|
|
|
|
675
|
|
|
674
|
|
||||
|
7,500 Class A Common Stock Units of PCH Support Holdings, Inc.
|
|
|
|
|
|
75
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
19,554
|
|
|
19,663
|
|
||||
|
Olson + Co., Inc.
|
|
Advertising
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+5.5% (1.5% floor) cash due 9/30/2017 (16)
|
|
|
|
12,853
|
|
|
12,853
|
|
|
12,853
|
|
|||
|
First Lien Revolver, LIBOR+5.5% (1.5% floor) cash due 9/30/2017 (16)
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
12,853
|
|
|
12,853
|
|
||||
|
Beecken Petty O’Keefe Fund IV, L.P.
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
0.5% limited partnership interest (11)(12)
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
Deltek, Inc. (9)
|
|
IT consulting & other services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+8.75% (1.25% floor) cash due 10/10/2019 (16)
|
|
|
|
25,000
|
|
|
25,000
|
|
|
25,415
|
|
|||
|
First Lien Revolver, LIBOR+4.75% (1.25% floor) cash due 10/10/2017 (16)
|
|
|
|
1,333
|
|
|
1,333
|
|
|
1,333
|
|
|||
|
|
|
|
|
|
|
26,333
|
|
|
26,748
|
|
||||
|
First American Payment Systems, LP
|
|
Diversified support services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+9.5% (1.25% floor) cash due 4/12/2019 (16)
|
|
|
|
25,000
|
|
|
25,000
|
|
|
25,130
|
|
|||
|
First Lien Revolver, LIBOR+4.5% (1.25% floor) cash due 10/12/2017 (16)
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
25,000
|
|
|
25,130
|
|
||||
|
Dexter Axle Company
|
|
Auto parts & equipment
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 11.25% cash 2% PIK due 11/1/2019
|
|
|
|
30,561
|
|
|
30,561
|
|
|
31,009
|
|
|||
|
1,500 Common Shares in Dexter Axle Holding Company
|
|
|
|
|
|
1,500
|
|
|
1,795
|
|
||||
|
|
|
|
|
|
|
32,061
|
|
|
32,804
|
|
||||
|
IG Investments Holdings, LLC
|
|
IT consulting & other services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+9% (1.25% floor) cash due 10/31/2020 (16)
|
|
|
|
10,000
|
|
|
10,000
|
|
|
10,059
|
|
|||
|
|
|
|
|
|
|
10,000
|
|
|
10,059
|
|
||||
|
Portfolio Company/Type of Investment (1)(2)(5)
|
|
Industry
|
|
Principal (8)
|
|
|
Cost
|
|
|
Fair Value
|
|
|||
|
SumTotal Systems, LLC
|
|
Internet software & services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+9% (1.25% floor) cash due 5/16/2019 (16)
|
|
|
|
$
|
20,000
|
|
|
$
|
20,000
|
|
|
$
|
20,015
|
|
|
|
|
|
|
|
|
20,000
|
|
|
20,015
|
|
||||
|
Comprehensive Pharmacy Services, LLC
|
|
Pharmaceuticals
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 11.25% cash 1.5% PIK due 11/30/2019
|
|
|
|
14,148
|
|
|
14,148
|
|
|
14,401
|
|
|||
|
20,000 Common Shares in MCP CPS Group Holdings, Inc. (6)
|
|
|
|
|
|
2,000
|
|
|
2,036
|
|
||||
|
|
|
|
|
|
|
16,148
|
|
|
16,437
|
|
||||
|
Reliance Communications, LLC
|
|
Internet software & services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, LIBOR+7% (1% floor) cash due 12/18/2017 (15)
|
|
|
|
21,774
|
|
|
21,769
|
|
|
21,898
|
|
|||
|
First Lien Term Loan B, LIBOR+11.5% (1% floor) cash due 12/18/2017 (15)
|
|
|
|
11,333
|
|
|
11,331
|
|
|
11,398
|
|
|||
|
First Lien Revolver, LIBOR+7% (1% floor) cash due 12/18/2017 (15)
|
|
|
|
2,250
|
|
|
2,249
|
|
|
2,250
|
|
|||
|
|
|
|
|
|
|
35,349
|
|
|
35,546
|
|
||||
|
Garretson Firm Resolution Group, Inc.
|
|
Diversified support services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+5% (1.25% floor) cash due 12/20/2018 (16)
|
|
|
|
7,264
|
|
|
7,264
|
|
|
7,283
|
|
|||
|
Subordinated Term Loan, 11% cash 1.5% PIK due 6/20/2019
|
|
|
|
5,019
|
|
|
5,019
|
|
|
5,025
|
|
|||
|
First Lien Revolver, LIBOR+5% (1.25% floor) cash due 12/20/2017 (16)
|
|
|
|
1,250
|
|
|
1,250
|
|
|
1,250
|
|
|||
|
4,950,000 Preferred Units in GRG Holdings, LP
|
|
|
|
|
|
495
|
|
|
489
|
|
||||
|
50,000 Common Units in GRG Holdings, LP
|
|
|
|
|
|
5
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
14,033
|
|
|
14,047
|
|
||||
|
Teaching Strategies, LLC
|
|
Education services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan A, LIBOR+6% (1.25% floor) cash due 12/21/2017 (19)
|
|
|
|
36,662
|
|
|
36,656
|
|
|
37,173
|
|
|||
|
First Lien Term Loan B, LIBOR+8.35% (1.25% floor) cash 3.15% PIK due 12/21/2017 (19)
|
|
|
|
19,605
|
|
|
19,603
|
|
|
19,888
|
|
|||
|
First Lien Revolver, LIBOR+6% (1.25% floor) cash due 12/21/2017 (10)(19)
|
|
|
|
|
|
(1
|
)
|
|
—
|
|
||||
|
|
|
|
|
|
|
56,258
|
|
|
57,061
|
|
||||
|
Omniplex World Services Corporation
|
|
Security & alarm services
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 12.25% cash 1.25% PIK due 12/21/2018
|
|
|
|
12,624
|
|
|
12,624
|
|
|
12,627
|
|
|||
|
500 Class A Common Units in Omniplex Holdings Corp.
|
|
|
|
|
|
500
|
|
|
477
|
|
||||
|
|
|
|
|
|
|
13,124
|
|
|
13,104
|
|
||||
|
Dominion Diagnostics, LLC
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 11% cash 2% PIK due 12/21/2018
|
|
|
|
15,746
|
|
|
15,746
|
|
|
16,016
|
|
|||
|
|
|
|
|
|
|
15,746
|
|
|
16,016
|
|
||||
|
Affordable Care, Inc.
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+9.25% (1.25% floor) cash due 12/26/2019 (16)
|
|
|
|
21,500
|
|
|
21,500
|
|
|
21,957
|
|
|||
|
|
|
|
|
|
|
21,500
|
|
|
21,957
|
|
||||
|
Aderant North America, Inc.
|
|
Internet software & services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+8.75% (1.25% floor) cash due 6/20/2019 (16)
|
|
|
|
7,000
|
|
|
7,000
|
|
|
7,067
|
|
|||
|
|
|
|
|
|
|
7,000
|
|
|
7,067
|
|
||||
|
AdVenture Interactive, Corp.
|
|
Advertising
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+6.75% (1.25% floor) cash due 3/22/2018 (17)
|
|
|
|
112,575
|
|
|
112,555
|
|
|
112,760
|
|
|||
|
First Lien Revolver, LIBOR+6.75% (1.25% floor) cash due 3/22/2018 (10)(17)
|
|
|
|
|
|
(1
|
)
|
|
—
|
|
||||
|
2,000 Preferred Units of AVI Holdings, L.P. (6)
|
|
|
|
|
|
2,000
|
|
|
2,123
|
|
||||
|
|
|
|
|
|
|
114,554
|
|
|
114,883
|
|
||||
|
Portfolio Company/Type of Investment (1)(2)(5)
|
|
Industry
|
|
Principal (8)
|
|
|
Cost
|
|
|
Fair Value
|
|
|||
|
CoAdvantage Corporation
|
|
Human resources & employment services
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 11.5% cash 1.25% PIK due 12/31/2018
|
|
|
|
$
|
10,094
|
|
|
$
|
10,094
|
|
|
$
|
10,229
|
|
|
50,000 Class A Units in CIP CoAdvantage Investments LLC
|
|
|
|
|
|
500
|
|
|
400
|
|
||||
|
|
|
|
|
|
|
10,594
|
|
|
10,629
|
|
||||
|
EducationDynamics, LLC
|
|
Education services
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 12% cash 6% PIK due 1/16/2017
|
|
|
|
11,062
|
|
|
11,062
|
|
|
10,961
|
|
|||
|
|
|
|
|
|
|
11,062
|
|
|
10,961
|
|
||||
|
Vestcom International, Inc.
|
|
Data processing & outsourced services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+5.75% (1.25% floor) cash due 12/26/2018 (16)
|
|
|
|
9,950
|
|
|
9,950
|
|
|
10,010
|
|
|||
|
|
|
|
|
|
|
9,950
|
|
|
10,010
|
|
||||
|
Sterling Capital Partners IV, L.P.
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
0.20% limited partnership interest (6)(12)
|
|
|
|
|
|
472
|
|
|
517
|
|
||||
|
|
|
|
|
|
|
472
|
|
|
517
|
|
||||
|
Devicor Medical Products, Inc.
|
|
Healthcare equipment
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+5% (2% floor) cash due 7/8/2015 (16)
|
|
|
|
9,619
|
|
|
9,619
|
|
|
9,618
|
|
|||
|
|
|
|
|
|
|
9,619
|
|
|
9,618
|
|
||||
|
RP Crown Parent, LLC
|
|
Application software
|
|
|
|
|
|
|
||||||
|
First Lien Revolver, LIBOR+5.5% (1.25% floor) cash due 12/21/2017 (16)
|
|
|
|
1,000
|
|
|
379
|
|
|
1,000
|
|
|||
|
|
|
|
|
|
|
379
|
|
|
1,000
|
|
||||
|
SESAC Holdco II LLC
|
|
Diversified support services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+8.75% (1.25% floor) cash due 6/28/2019 (16)
|
|
|
|
4,000
|
|
|
4,000
|
|
|
4,097
|
|
|||
|
|
|
|
|
|
|
4,000
|
|
|
4,097
|
|
||||
|
Advanced Pain Management Holdings, Inc.
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+8.5% (1.25% floor) cash due 2/26/2018 (16)
|
|
|
|
24,000
|
|
|
24,000
|
|
|
24,454
|
|
|||
|
|
|
|
|
|
|
24,000
|
|
|
24,454
|
|
||||
|
Rocket Software, Inc.
|
|
Internet software & services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+8.75% (1.5% floor) cash due 2/8/2019 (16)
|
|
|
|
10,475
|
|
|
10,435
|
|
|
10,482
|
|
|||
|
|
|
|
|
|
|
10,435
|
|
|
10,482
|
|
||||
|
TravelClick, Inc.
|
|
Internet software & services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+8.5% (1.25% floor) cash due 3/26/2018 (16)
|
|
|
|
15,000
|
|
|
15,000
|
|
|
15,106
|
|
|||
|
|
|
|
|
|
|
15,000
|
|
|
15,106
|
|
||||
|
ISG Services, LLC
|
|
Diversified support services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+8% (1% floor) cash due 3/28/2018 (16)
|
|
|
|
95,000
|
|
|
94,972
|
|
|
95,111
|
|
|||
|
First Lien Revolver, LIBOR+8% (1% floor) cash due 3/28/2018 (16)
|
|
|
|
4,000
|
|
|
3,997
|
|
|
4,000
|
|
|||
|
|
|
|
|
|
|
98,969
|
|
|
99,111
|
|
||||
|
Joerns Healthcare, LLC
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+8.75% (1.25% floor) cash due 9/28/2018 (16)
|
|
|
|
20,000
|
|
|
20,000
|
|
|
19,965
|
|
|||
|
|
|
|
|
|
|
20,000
|
|
|
19,965
|
|
||||
|
Pingora MSR Opportunity Fund I, LP
|
|
Thrift & mortgage finance
|
|
|
|
|
|
|
||||||
|
1.90% limited partnership interest (12)
|
|
|
|
|
|
208
|
|
|
139
|
|
||||
|
|
|
|
|
|
|
208
|
|
|
139
|
|
||||
|
Chicago Growth Partners III, LP
|
|
Multi-sector holdings
|
|
|
|
|
|
|
||||||
|
0.50% limited partnership interest (11)(12)
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
Credit Infonet, Inc.
|
|
Data processing & outsourced services
|
|
|
|
|
|
|
||||||
|
Subordinated Term Loan, 12.25% cash due 10/26/2018
|
|
|
|
13,250
|
|
|
13,250
|
|
|
13,285
|
|
|||
|
|
|
|
|
|
|
13,250
|
|
|
13,285
|
|
||||
|
Portfolio Company/Type of Investment (1)(2)(5)
|
|
Industry
|
|
Principal (8)
|
|
Cost
|
|
Fair Value
|
||||||
|
Harden Healthcare, LLC
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+5.5% (1.25% floor) cash due 5/1/2018 (16)
|
|
|
|
$
|
8,888
|
|
|
$
|
8,888
|
|
|
$
|
8,929
|
|
|
|
|
|
|
|
|
8,888
|
|
|
8,929
|
|
||||
|
H.D. Vest, Inc.
|
|
Specialized finance
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+8% (1.25% floor) cash due 6/18/2019 (17)
|
|
|
|
8,750
|
|
|
8,750
|
|
|
8,757
|
|
|||
|
|
|
|
|
|
|
8,750
|
|
|
8,757
|
|
||||
|
2Checkout.com, Inc.
|
|
Diversified support services
|
|
|
|
|
|
|
||||||
|
First Lien Revolver, LIBOR+5% cash due 6/26/2016 (18)
|
|
|
|
150
|
|
|
148
|
|
|
150
|
|
|||
|
|
|
|
|
|
|
148
|
|
|
150
|
|
||||
|
Meritas Schools Holdings, LLC
|
|
Education services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+5.75% (1.25% floor) cash due 6/25/2019 (16)
|
|
|
|
12,968
|
|
|
12,968
|
|
|
12,973
|
|
|||
|
|
|
|
|
|
|
12,968
|
|
|
12,973
|
|
||||
|
Personable Holdings, Inc.
|
|
Other diversified financial services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+6% (1.25% floor) cash due 5/16/2018 (16)
|
|
|
|
11,109
|
|
|
11,109
|
|
|
11,109
|
|
|||
|
First Lien Revolver, LIBOR+6% (1.25% floor) cash due 5/16/2018 (16)
|
|
|
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
11,109
|
|
|
11,109
|
|
||||
|
Ikaria Acquisition, Inc.
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan B, LIBOR+6% (1.25% floor) cash due 7/3/2018 (16)
|
|
|
|
9,875
|
|
|
9,875
|
|
|
9,875
|
|
|||
|
Second Lien Term Loan, LIBOR+9.75% (1.25% floor) cash due 7/3/2019 (16)
|
|
|
8,000
|
|
|
8,000
|
|
|
8,000
|
|
||||
|
|
|
|
|
|
|
17,875
|
|
|
17,875
|
|
||||
|
Blue Coat Systems, Inc.
|
|
Internet software & services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+8.5% (1% floor) cash due 6/28/2020 (16)
|
|
|
|
10,000
|
|
|
10,000
|
|
|
10,000
|
|
|||
|
|
|
|
|
|
|
10,000
|
|
|
10,000
|
|
||||
|
Royal Adhesives and Sealants, LLC
|
|
Specialty chemicals
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+8.5% (1.25% floor) cash due 1/31/2019 (16)
|
|
|
20,000
|
|
|
20,000
|
|
|
20,000
|
|
||||
|
|
|
|
|
|
|
20,000
|
|
|
20,000
|
|
||||
|
Bracket Holding Corp.
|
|
Healthcare services
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, LIBOR+8.25% (1% floor) cash due 2/15/2020 (16)
|
|
|
|
32,000
|
|
|
32,000
|
|
|
32,000
|
|
|||
|
50,000 Common Units in AB Group Holdings, LP
|
|
|
|
|
|
500
|
|
|
500
|
|
||||
|
|
|
|
|
|
|
32,500
|
|
|
32,500
|
|
||||
|
Digital Insight Corporation
|
|
Other diversified financial services
|
|
|
|
|
|
|
||||||
|
First Lien Term Loan, LIBOR+4.25% (1.25% floor) cash due 8/1/2019 (16)
|
|
|
|
5,000
|
|
|
5,000
|
|
|
5,000
|
|
|||
|
Second Lien Term Loan, LIBOR+8.25% (1.25% floor) cash due 8/1/2020 (16)
|
|
|
20,000
|
|
|
20,000
|
|
|
20,000
|
|
||||
|
|
|
|
|
|
|
25,000
|
|
|
25,000
|
|
||||
|
Salus CLO 2012-1, Ltd.
|
|
Asset management & custody banks
|
|
|
|
|
|
|
||||||
|
Class F Deferrable Notes - A, LIBOR+11.5% cash due 3/5/2021 (12)(20)
|
|
|
|
7,500
|
|
|
7,500
|
|
|
7,500
|
|
|||
|
Class F Deferrable Notes - B, LIBOR+10.85% cash due 3/5/2021 (12)(20)
|
|
|
|
22,000
|
|
|
22,000
|
|
|
22,000
|
|
|||
|
|
|
|
|
|
|
29,500
|
|
|
29,500
|
|
||||
|
HealthEdge Software, Inc.
|
|
Application software
|
|
|
|
|
|
|
||||||
|
Second Lien Term Loan, 12% cash due 9/30/2018
|
|
|
|
12,500
|
|
|
12,500
|
|
|
12,500
|
|
|||
|
|
|
|
|
|
|
12,500
|
|
|
12,500
|
|
||||
|
Total Non-Control/Non-Affiliate Investments (120.2% of net assets)
|
|
|
|
|
|
$
|
1,622,326
|
|
|
$
|
1,645,612
|
|
||
|
Total Portfolio Investments (138.3% of net assets)
|
|
|
|
|
|
$
|
1,859,651
|
|
|
$
|
1,893,046
|
|
||
|
(1)
|
All debt investments are income producing unless otherwise noted. Equity is non-income producing unless otherwise noted.
|
|
(2)
|
See Note 3 to the Consolidated Financial Statements for portfolio composition by geographic region.
|
|
(3)
|
Control Investments are defined by the 1940 Act as investments in companies in which the Company owns more than 25% of the voting securities or maintains greater than 50% of the board representation.
|
|
(4)
|
Affiliate Investments are defined by the 1940 Act as investments in companies in which the Company owns between 5% and 25% of the voting securities.
|
|
(5)
|
Equity ownership may be held in shares or units of companies related to the portfolio companies.
|
|
(6)
|
Income producing through payment of dividends or distributions.
|
|
(7)
|
Non-Control/Non-Affiliate Investments are defined by the 1940 Act as investments that are neither Control Investments nor Affiliate Investments.
|
|
(8)
|
Principal includes accumulated PIK interest and is net of repayments.
|
|
Portfolio Company
|
|
Effective date
|
|
Cash interest
|
|
PIK interest
|
|
Reason
|
|
Phoenix Brands Merger Sub LLC
|
|
July 31, 2013
|
|
+ 2.25% on Senior Term Loan
+ 2.25% on Revolver + 0.75% on Subordinated Term Loan |
|
|
|
Per loan agreement
|
|
GSE Environmental, Inc.
|
|
July 30, 2013
|
|
+ 2.0% on Term Loan
|
|
|
|
Per loan amendment
|
|
Miche Bag, LLC
|
|
July 26, 2013
|
|
- 3.0% on Term Loan B
|
|
- 1.0% on Term Loan B
|
|
Per loan amendment
|
|
Ansira Partners, Inc.
|
|
June 30, 2013
|
|
- 0.5% on Term Loan & Revolver
|
|
|
|
Tier pricing per loan agreement
|
|
Drugtest, Inc.
|
|
June 27, 2013
|
|
- 1.5% on Term Loan A
- 0.75% on Term Loan B - 0.25% on Revolver |
|
- 0.5% on Term Loan B
|
|
Per loan amendment
|
|
The MedTech Group, Inc.
|
|
June 21, 2013
|
|
- 0.50% on Term Loan
|
|
|
|
Per loan amendment
|
|
Physicians Pharmacy Alliance, Inc.
|
|
April 1, 2013
|
|
+ 3.0% on Term Loan & Revolver
|
|
+ 1.0% on Term Loan
|
|
Per loan agreement
|
|
Discovery Practice Management, Inc.
|
|
April 1, 2013
|
|
- 1.0% on Term Loan A
- 1.0% on Revolver |
|
- 1.0% on Term Loan B
|
|
Tier pricing per loan agreement
|
|
Deltek, Inc.
|
|
February 1, 2013
|
|
- 1.0% on Revolver
|
|
|
|
Per loan amendment
|
|
HealthDrive Corporation
|
|
January 1, 2013
|
|
+ 2.0% on Term Loan A
|
|
+ 1.0% on Term Loan B
|
|
Per loan amendment
|
|
JTC Education, Inc.
|
|
January 1, 2013
|
|
+ 0.25% on Term Loan
|
|
|
|
Per loan amendment
|
|
Mansell Group, Inc.
|
|
January 1, 2013
|
|
+ 2.0% on Term Loan A,
Term Loan B & Revolver
|
|
|
|
Per loan agreement
|
|
Saddleback Fence & Vinyl Products, Inc.
|
|
December 1, 2012
|
|
+ 4.0% on Term Loan
+ 4.0% on Revolver |
|
|
|
Per loan amendment
|
|
Capital Equipment Group, Inc.
|
|
November 30, 2012
|
|
|
|
- 1.25% on Term Loan
|
|
Per loan amendment
|
|
CCCG, LLC
|
|
November 15, 2012
|
|
+ 0.5% on Term Loan
|
|
+ 1.0% on Term Loan
|
|
Per loan amendment
|
|
Yeti Acquisition, LLC
|
|
October 1, 2012
|
|
- 1.0% on Term Loan A,
Term Loan B & Revolver
|
|
|
|
Tier pricing per loan
agreement
|
|
Ambath/Rebath Holdings, Inc.
|
|
April 1, 2012
|
|
- 2.0% on Term Loan A
- 4.5% on Term Loan B
|
|
+ 2.0% on Term Loan A
+ 4.5% on Term Loan B |
|
Per loan amendment
|
|
(10)
|
Investment has undrawn commitments and a negative cost basis as a result of unamortized fees. Unamortized fees are classified as unearned income which reduces cost basis.
|
|
(11)
|
Represents an unfunded commitment to fund limited partnership interest.
|
|
(12)
|
Investment is not a "qualifying asset" as defined under Section 55(a) of the 1940 Act, in whole or in part.
|
|
(13)
|
Eagle Hospital Physicians, LLC, is the successor entity to Eagle Hospital Physicians, Inc. and was formed as part of the restructuring process.
|
|
(14)
|
Prior to fiscal year end, the Company closed on a $33.4 million incremental investment in Refac Optical Group that had not yet settled as of September 30, 2013. As such, this amount was recorded in "Payables from unsettled transactions" in the Statement of Assets and Liabilities.
|
|
(15)
|
The principal balance outstanding for this debt investment, in whole or in part, is indexed to 90-day LIBOR.
|
|
(16)
|
The principal balance outstanding for this debt investment, in whole or in part, is indexed to 30-day, 60-day, 90-day or 180-day LIBOR, at the borrower's option.
|
|
(17)
|
The principal balance outstanding for this debt investment, in whole or in part, is indexed to 30-day, 60-day or 90-day LIBOR, at the borrower's option.
|
|
(18)
|
The principal balance outstanding for this debt investment, in whole or in part, is indexed to 30-day LIBOR.
|
|
(19)
|
The principal balance outstanding for this debt investment, in whole or in part, is indexed to 30-day or 60-day LIBOR, at the borrower's option.
|
|
(20)
|
The principal balance outstanding for this debt investment, in whole or in part, is indexed to180-day LIBOR.
|
|
(21)
|
Each of the Company's investments are pledged as collateral under one or more of its credit facilities. A single investment may be divided into parts that are individually pledged as collateral to separate credit facilities.
|
|
(22)
|
The Company, through its investments in HFG Holdings LLC, acquired a majority equity interest in Healthcare Finance Group, LLC, which provides financing to healthcare companies. The fair value of the Company’s debt and equity investments in HFG Holdings approximates the fair value of HFG Holdings’ equity investment in Healthcare Finance Group, LLC.
|
|
Date
|
|
Transaction
|
|
Shares
|
|
Offering
price
|
|
|
|
Gross
proceeds
|
||||
|
June 17, 2008
|
|
Initial public offering
|
|
10,000,000
|
|
|
$
|
14.12
|
|
|
|
|
141.2 million
|
|
|
July 21, 2009
|
|
Follow-on public offering (including underwriters’ exercise of over-allotment option)
|
|
9,487,500
|
|
|
9.25
|
|
|
|
|
87.8 million
|
||
|
September 25, 2009
|
|
Follow-on public offering (including underwriters’ exercise of over-allotment option)
|
|
5,520,000
|
|
|
10.5
|
|
|
|
|
58.0 million
|
||
|
January 27, 2010
|
|
Follow-on public offering
|
|
7,000,000
|
|
|
11.2
|
|
|
|
|
78.4 million
|
||
|
February 25, 2010
|
|
Underwriters’ partial exercise of over-allotment option
|
|
300,500
|
|
|
11.2
|
|
|
|
|
3.4 million
|
||
|
June 21, 2010
|
|
Follow-on public offering (including underwriters’ exercise of over-allotment option)
|
|
9,200,000
|
|
|
11.5
|
|
|
|
|
105.8 million
|
||
|
December 2010
|
|
At-the-Market offering
|
|
429,110
|
|
|
11.87
|
|
|
(1
|
)
|
|
5.1 million
|
|
|
February 4, 2011
|
|
Follow-on public offering (including underwriters’ exercise of over-allotment option)
|
|
11,500,000
|
|
|
12.65
|
|
|
|
|
145.5 million
|
||
|
June 24, 2011
|
|
Follow-on public offering (including underwriters’ partial exercise of over-allotment option)
|
|
5,558,469
|
|
|
11.72
|
|
|
|
|
65.1 million
|
||
|
January 26, 2012
|
|
Follow-on public offering
|
|
10,000,000
|
|
|
10.07
|
|
|
|
|
100.7 million
|
||
|
September 14, 2012
|
|
Follow-on public offering (including underwriters’ partial exercise of over-allotment option)
|
|
8,451,486
|
|
|
10.79
|
|
|
|
|
91.2 million
|
||
|
December 7, 2012
|
|
Follow-on public offering
|
|
14,000,000
|
|
|
10.68
|
|
|
|
|
149.5 million
|
||
|
December 14, 2012
|
|
Underwriters’ partial exercise of over-allotment option
|
|
725,000
|
|
|
10.68
|
|
|
|
|
7.7 million
|
||
|
April 15, 2013
|
|
Follow-on public offering
|
|
13,500,000
|
|
|
10.85
|
|
|
|
|
146.5 million
|
||
|
April 26, 2013
|
|
Underwriters’ partial exercise of over-allotment option
|
|
935,253
|
|
|
10.85
|
|
|
|
|
10.1 million
|
||
|
September 26, 2013
|
|
Follow-on public offering (including underwriters’ partial exercise of over-allotment option)
|
|
17,643,000
|
|
|
10.31
|
|
|
|
|
181.9 million
|
||
|
Rate Fix Date
|
|
Debenture
Amount
|
|
Fixed
Interest
Rate
|
|
SBA
Annual
Charge
|
|
||||
|
September 2010
|
|
$
|
73,000
|
|
|
3.215
|
%
|
|
0.285
|
%
|
|
|
March 2011
|
|
65,300
|
|
|
4.084
|
|
|
0.285
|
|
|
|
|
September 2011
|
|
11,700
|
|
|
2.877
|
|
|
0.285
|
|
|
|
|
Rate Fix Date
|
|
Debenture
Amount |
|
Fixed
Interest Rate |
|
SBA
Annual Charge |
|
||||
|
March 2013
|
|
$
|
31,750
|
|
|
2.351
|
%
|
|
0.804
|
%
|
|
|
March 2014
|
|
43,250
|
|
|
3.191
|
|
|
0.804
|
|
|
|
|
•
|
Level 1 — Unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date.
|
|
•
|
Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data at the measurement date for substantially the full term of the assets or liabilities.
|
|
•
|
Level 3 — Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model.
|
|
•
|
The quarterly valuation process begins with each portfolio company or investment being initially valued by the Company’s finance department;
|
|
•
|
Separately, independent valuation firms are engaged by the Board of Directors to prepare preliminary valuations on a selected basis and submit the reports to the Company;
|
|
•
|
The finance department compares and contrasts its preliminary valuations to the preliminary valuations of the independent valuation firms;
|
|
•
|
The finance department prepares a valuation report for the Audit Committee of the Board of Directors;
|
|
•
|
The Audit Committee of the Board of Directors is apprised of the preliminary valuations of the independent valuation firms;
|
|
•
|
The Audit Committee of the Board of Directors reviews the preliminary valuations with the portfolio managers of the Investment Adviser, and the finance department responds and supplements the preliminary valuations to reflect any comments provided by the Audit Committee;
|
|
•
|
The Audit Committee of the Board of Directors makes a recommendation to the Board of Directors regarding the fair value of the investments in the Company’s portfolio; and
|
|
•
|
The Board of Directors discusses valuations and determines the fair value of each investment in the Company’s portfolio in good faith.
|
|
|
June 30, 2014
|
|
September 30, 2013
|
|
||||||||||||
|
|
Cost
|
|
Fair Value
|
|
Cost
|
|
Fair Value
|
|
||||||||
|
Investments in debt securities
|
$
|
2,499,381
|
|
|
$
|
2,485,312
|
|
|
$
|
1,779,201
|
|
|
$
|
1,793,463
|
|
|
|
Investments in equity securities
|
117,028
|
|
|
142,505
|
|
|
80,450
|
|
|
99,583
|
|
|
||||
|
Total
|
$
|
2,616,409
|
|
|
$
|
2,627,817
|
|
|
$
|
1,859,651
|
|
|
$
|
1,893,046
|
|
|
|
|
June 30, 2014
|
|
|
September 30, 2013
|
|
|
||||||||||
|
|
Fair Value
|
|
% of
Debt Portfolio
|
|
|
Fair Value
|
|
% of
Debt Portfolio
|
|
|
||||||
|
Fixed rate debt securities
|
$
|
686,061
|
|
|
27.60
|
%
|
|
|
$
|
584,876
|
|
|
32.61
|
%
|
|
|
|
Floating rate debt securities
|
1,799,251
|
|
|
72.40
|
|
|
|
1,208,587
|
|
|
67.39
|
|
|
|
||
|
Total
|
$
|
2,485,312
|
|
|
100.00
|
%
|
|
|
$
|
1,793,463
|
|
|
100.00
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
|
||||||||
|
Investments in debt securities (senior secured)
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
2,161,621
|
|
|
$
|
2,161,621
|
|
|
|
Investments in debt securities (subordinated)
|
—
|
|
|
—
|
|
|
294,191
|
|
|
294,191
|
|
|
||||
|
Investments in debt securities (collateralized loan obligation, or CLO)
|
—
|
|
|
—
|
|
|
29,500
|
|
|
29,500
|
|
|
||||
|
Investments in equity securities (preferred)
|
—
|
|
|
—
|
|
|
26,550
|
|
|
26,550
|
|
|
||||
|
Investments in equity securities (common and other)
|
—
|
|
|
—
|
|
|
115,955
|
|
|
115,955
|
|
|
||||
|
Total investments at fair value
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
2,627,817
|
|
|
$
|
2,627,817
|
|
|
|
Secured borrowings relating to senior secured debt investments
|
—
|
|
|
—
|
|
|
$
|
45,805
|
|
|
$
|
45,805
|
|
|
||
|
Total liabilities at fair value
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
45,805
|
|
|
$
|
45,805
|
|
|
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
|
||||||||
|
Investments in debt securities (senior secured)
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,467,665
|
|
|
$
|
1,467,665
|
|
|
|
Investments in debt securities (subordinated)
|
—
|
|
|
—
|
|
|
296,298
|
|
|
296,298
|
|
|
||||
|
Investments in debt securities (CLO)
|
—
|
|
|
—
|
|
|
29,500
|
|
|
29,500
|
|
|
||||
|
Investments in equity securities (preferred)
|
—
|
|
|
—
|
|
|
25,648
|
|
|
25,648
|
|
|
||||
|
Investments in equity securities (common and other)
|
—
|
|
|
—
|
|
|
73,935
|
|
|
73,935
|
|
|
||||
|
Total investments at fair value
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,893,046
|
|
|
$
|
1,893,046
|
|
|
|
|
Investments
|
|
Liabilities
|
||||||||||||||||||||||||
|
|
Senior Secured Debt
|
|
Subordinated
Debt
|
|
CLO Debt
|
|
Preferred
Equity
|
|
Common
and Other
Equity
|
|
Total
|
|
Secured Borrowings
|
||||||||||||||
|
Fair value as of March 31, 2014
|
$
|
2,234,355
|
|
|
$
|
287,516
|
|
|
$
|
29,500
|
|
|
$
|
25,852
|
|
|
$
|
107,075
|
|
|
$
|
2,684,298
|
|
|
$
|
47,760
|
|
|
New investments & net revolver activity
|
185,457
|
|
|
7,100
|
|
|
—
|
|
|
1,404
|
|
|
3,862
|
|
|
197,823
|
|
|
—
|
|
|||||||
|
Proceeds from secured borrowings
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
|
Redemptions/repayments
|
(246,376
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(246,376
|
)
|
|
(2,000
|
)
|
|||||||
|
Net accrual of PIK interest income
|
2,817
|
|
|
2,330
|
|
|
—
|
|
|
422
|
|
|
—
|
|
|
5,569
|
|
|
—
|
|
|||||||
|
Accretion of original issue discount
|
178
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
178
|
|
|
—
|
|
|||||||
|
Net change in unearned income
|
592
|
|
|
65
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
657
|
|
|
—
|
|
|||||||
|
Net unrealized appreciation (depreciation) on investments
|
(14,756
|
)
|
|
(2,820
|
)
|
|
—
|
|
|
(1,128
|
)
|
|
5,018
|
|
|
(13,686
|
)
|
|
—
|
|
|||||||
|
Net unrealized appreciation on secured borrowings
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
45
|
|
|||||||
|
Unrealized adjustments due to deal exits
|
(646
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(646
|
)
|
|
—
|
|
|||||||
|
Transfer into (out of) Level 3
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
|
||||||||
|
Fair value as of June 30, 2014
|
$
|
2,161,621
|
|
|
$
|
294,191
|
|
|
$
|
29,500
|
|
|
$
|
26,550
|
|
|
$
|
115,955
|
|
|
$
|
2,627,817
|
|
|
$
|
45,805
|
|
|
Net unrealized appreciation (depreciation) relating to Level 3 assets and liabilities still held at June 30, 2014 and reported within net unrealized appreciation (depreciation) in the Consolidated Statement of Operations for the three months ended June 30, 2014
|
$
|
(14,816
|
)
|
|
$
|
(2,820
|
)
|
|
$
|
—
|
|
|
$
|
(1,128
|
)
|
|
$
|
5,018
|
|
|
$
|
(13,746
|
)
|
|
$
|
45
|
|
|
|
|
Senior Secured Debt
|
|
Subordinated
Debt
|
|
CLO Debt
|
|
Preferred
Equity
|
|
Common and Other
Equity
|
|
Total
|
||||||||||||
|
Fair value as of March 31, 2013
|
|
$
|
1,374,553
|
|
|
$
|
311,341
|
|
|
$
|
—
|
|
|
$
|
24,575
|
|
|
$
|
38,426
|
|
|
$
|
1,748,895
|
|
|
New investments & net revolver activity
|
|
207,864
|
|
|
17,250
|
|
|
—
|
|
|
3,033
|
|
|
21,998
|
|
|
250,145
|
|
||||||
|
Redemptions/repayments
|
|
(166,010
|
)
|
|
(35,016
|
)
|
|
—
|
|
|
(111
|
)
|
|
—
|
|
|
(201,137
|
)
|
||||||
|
Net accrual of PIK interest income
|
|
1,799
|
|
|
969
|
|
|
—
|
|
|
382
|
|
|
—
|
|
|
3,150
|
|
||||||
|
Accretion of original issue discount
|
|
164
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
164
|
|
||||||
|
Net change in unearned income
|
|
1,706
|
|
|
341
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,047
|
|
||||||
|
Net unrealized appreciation (depreciation)
|
|
11,065
|
|
|
(1,669
|
)
|
|
—
|
|
|
(782
|
)
|
|
4,448
|
|
|
13,062
|
|
||||||
|
Unrealized adjustments due to deal exits
|
|
(12,263
|
)
|
|
1,166
|
|
|
—
|
|
|
—
|
|
|
(3,128
|
)
|
|
(14,225
|
)
|
||||||
|
Transfer into (out of) Level 3
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
|
Fair value as of June 30, 2013
|
|
$
|
1,418,878
|
|
|
$
|
294,382
|
|
|
$
|
—
|
|
|
$
|
27,097
|
|
|
$
|
61,744
|
|
|
$
|
1,802,101
|
|
|
Net unrealized appreciation (depreciation) relating to Level 3 assets still held at June 30, 2013 and reported within net unrealized appreciation (depreciation) on investments in the Consolidated Statement of Operations for the three months ended June 30, 2013
|
|
$
|
(1,198
|
)
|
|
$
|
(503
|
)
|
|
$
|
—
|
|
|
$
|
(782
|
)
|
|
$
|
1,320
|
|
|
$
|
(1,163
|
)
|
|
|
Investments
|
|
Liabilities
|
||||||||||||||||||||||||
|
|
Senior Secured Debt
|
|
Subordinated
Debt
|
|
CLO Debt
|
|
Preferred
Equity
|
|
Common and Other
Equity
|
|
Total
|
|
Secured Borrowings
|
||||||||||||||
|
Fair value as of September 30, 2013
|
$
|
1,467,665
|
|
|
$
|
296,298
|
|
|
$
|
29,500
|
|
|
$
|
25,648
|
|
|
$
|
73,935
|
|
|
$
|
1,893,046
|
|
|
$
|
—
|
|
|
New investments & net revolver activity
|
1,227,027
|
|
|
42,937
|
|
|
—
|
|
|
4,521
|
|
|
31,656
|
|
|
1,306,141
|
|
|
—
|
|
|||||||
|
Proceeds from secured borrowings
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
47,750
|
|
|||||||
|
Redemptions/repayments
|
(516,204
|
)
|
|
(43,756
|
)
|
|
—
|
|
|
(339
|
)
|
|
(2,695
|
)
|
|
(562,994
|
)
|
|
(2,000
|
)
|
|||||||
|
Net accrual of PIK interest income
|
7,230
|
|
|
2,473
|
|
|
—
|
|
|
1,236
|
|
|
—
|
|
|
10,939
|
|
|
—
|
|
|||||||
|
Accretion of original issue discount
|
566
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
566
|
|
|
—
|
|
|||||||
|
Net change in unearned income
|
801
|
|
|
285
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,086
|
|
|
—
|
|
|||||||
|
Net unrealized appreciation (depreciation) on investments
|
(24,128
|
)
|
|
(4,202
|
)
|
|
—
|
|
|
(4,516
|
)
|
|
10,859
|
|
|
(21,987
|
)
|
|
—
|
|
|||||||
|
Net unrealized appreciation on secured borrowings
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
|
|
—
|
|
|
55
|
|
||||||||
|
Unrealized adjustments due to deal exits
|
(1,336
|
)
|
|
156
|
|
|
—
|
|
|
—
|
|
|
2,200
|
|
|
1,020
|
|
|
—
|
|
|||||||
|
Transfer into (out of) Level 3
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
|
||||||||
|
Fair value as of June 30, 2014
|
$
|
2,161,621
|
|
|
$
|
294,191
|
|
|
$
|
29,500
|
|
|
$
|
26,550
|
|
|
$
|
115,955
|
|
|
$
|
2,627,817
|
|
|
$
|
45,805
|
|
|
Net unrealized appreciation (depreciation) relating to Level 3 assets and liabilities still held at June 30, 2014 and reported within net unrealized appreciation (depreciation) in the Consolidated Statement of Operations for the nine months ended June 30, 2014
|
$
|
(24,412
|
)
|
|
$
|
(4,046
|
)
|
|
$
|
—
|
|
|
$
|
(4,516
|
)
|
|
$
|
13,059
|
|
|
$
|
(19,915
|
)
|
|
$
|
55
|
|
|
|
|
Senior Secured Debt
|
|
Subordinated
Debt
|
|
Preferred
Equity
|
|
Common and Other
Equity
|
|
Total
|
||||||||||
|
Fair value as of September 30, 2012
|
|
$
|
1,035,750
|
|
|
$
|
205,447
|
|
|
$
|
24,240
|
|
|
$
|
22,671
|
|
|
$
|
1,288,108
|
|
|
New investments & net revolver activity
|
|
833,175
|
|
|
119,093
|
|
|
5,705
|
|
|
27,703
|
|
|
985,676
|
|
|||||
|
Redemptions/repayments
|
|
(440,791
|
)
|
|
(35,016
|
)
|
|
(2,422
|
)
|
|
—
|
|
|
(478,229
|
)
|
|||||
|
Net accrual of PIK interest income
|
|
3,066
|
|
|
3,542
|
|
|
(289
|
)
|
|
—
|
|
|
6,319
|
|
|||||
|
Accretion of original issue discount
|
|
448
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
448
|
|
|||||
|
Net change in unearned income
|
|
4,772
|
|
|
512
|
|
|
—
|
|
|
—
|
|
|
5,284
|
|
|||||
|
Net unrealized appreciation (depreciation)
|
|
(7,909
|
)
|
|
(361
|
)
|
|
(17
|
)
|
|
14,689
|
|
|
6,402
|
|
|||||
|
Unrealized adjustments due to deal exits
|
|
(9,633
|
)
|
|
1,165
|
|
|
(120
|
)
|
|
(3,319
|
)
|
|
(11,907
|
)
|
|||||
|
Transfer into (out of) Level 3
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
|
Fair value as of June 30, 2013
|
|
$
|
1,418,878
|
|
|
$
|
294,382
|
|
|
$
|
27,097
|
|
|
$
|
61,744
|
|
|
$
|
1,802,101
|
|
|
Net unrealized appreciation (depreciation) relating to Level 3 assets still held at June 30, 2013 and reported within net unrealized appreciation (depreciation) on investments in the Consolidated Statement of Operations for the nine months ended June 30, 2013
|
|
$
|
(17,542
|
)
|
|
$
|
804
|
|
|
$
|
(137
|
)
|
|
$
|
11,370
|
|
|
$
|
(5,505
|
)
|
|
Asset
|
|
Fair Value
|
|
Valuation Technique
|
|
Unobservable Input
|
|
Range
|
|
Weighted
Average (c)
|
|||||
|
Senior secured debt
|
|
$
|
2,144,070
|
|
|
Bond yield approach
|
|
Capital structure premium
|
|
(a)
|
0.0%
|
-
|
2.0%
|
|
0.7%
|
|
|
|
|
|
|
|
Tranche specific risk premium/(discount)
|
|
(a)
|
(4.0)%
|
-
|
7.5%
|
|
1.4%
|
||
|
|
|
|
|
|
|
Size premium
|
|
(a)
|
0.5%
|
-
|
2.0%
|
|
1.2%
|
||
|
|
|
|
|
|
|
Industry premium/(discount)
|
|
(a)
|
(0.9)%
|
-
|
1.3%
|
|
0.3%
|
||
|
|
|
17,551
|
|
|
Market and income approach
|
|
Weighted average cost of capital
|
|
|
24.0%
|
-
|
27.0%
|
|
25.9%
|
|
|
|
|
|
|
|
|
Company specific risk premium
|
|
(a)
|
10.0%
|
-
|
10.0%
|
|
10.0%
|
||
|
|
|
|
|
|
|
Revenue growth rate
|
|
|
(29.5)%
|
-
|
(29.1)%
|
|
(29.3)%
|
||
|
Subordinated debt
|
|
294,191
|
|
|
Bond yield approach
|
|
Capital structure premium
|
|
(a)
|
2.0%
|
-
|
2.0%
|
|
2.0%
|
|
|
|
|
|
|
|
|
Tranche specific risk premium
|
|
(a)
|
1.0%
|
-
|
11.5%
|
|
4.7%
|
||
|
|
|
|
|
|
|
Size premium
|
|
(a)
|
0.5%
|
-
|
2.0%
|
|
1.2%
|
||
|
|
|
|
|
|
|
Industry premium/(discount)
|
|
(a)
|
(0.6)%
|
-
|
1.3%
|
|
0.3%
|
||
|
CLO debt
|
|
29,500
|
|
|
Bond yield approach
|
|
Market yield
|
|
|
11.1%
|
-
|
11.7%
|
|
11.4%
|
|
|
Preferred, common and other equity
|
|
142,505
|
|
|
Market and income approach
|
|
Weighted average cost of capital
|
|
|
13.0%
|
-
|
31.0%
|
|
17.8%
|
|
|
|
|
|
|
|
|
Company specific risk premium
|
|
(a)
|
1.0%
|
-
|
15.0%
|
|
2.9%
|
||
|
|
|
|
|
|
|
Revenue growth rate
|
|
|
(17.2)%
|
-
|
78.3%
|
|
13.3%
|
||
|
|
|
|
|
|
|
EBITDA multiple
|
|
(b)
|
1.7x
|
-
|
13.1x
|
|
9.5x
|
||
|
|
|
|
|
|
|
Revenue multiple
|
|
(b)
|
4.1x
|
-
|
5.3x
|
|
4.7x
|
||
|
|
|
|
|
|
|
Book value multiple
|
|
(b)
|
0.9x
|
-
|
1.1x
|
|
1.0x
|
||
|
Total
|
|
$
|
2,627,817
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Liability
|
|
Fair Value
|
|
Valuation Technique
|
|
Unobservable Input
|
|
Range
|
|
Weighted
Average (c)
|
|||||
|
Secured borrowings
|
|
$
|
45,805
|
|
|
Bond yield approach
|
|
Capital structure premium
|
|
(a)
|
0.0%
|
-
|
0.0%
|
|
0.0%
|
|
|
|
|
|
|
|
Tranche specific risk premium/(discount)
|
|
(a)
|
(3.8)%
|
-
|
(3.6)%
|
|
(3.6)%
|
||
|
|
|
|
|
|
|
Size premium
|
|
(a)
|
0.5%
|
-
|
2.0%
|
|
0.9%
|
||
|
|
|
|
|
|
|
Industry premium/(discount)
|
|
(a)
|
0.3%
|
-
|
1.1%
|
|
0.9%
|
||
|
Total
|
|
$
|
45,805
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a)
|
Used when market participant would take into account this premium or discount when pricing the investment or secured borrowing.
|
|
(b)
|
Used when market participant would use such multiples when pricing the investment.
|
|
(c)
|
Weighted averages are calculated based on fair value of investments or secured borrowings.
|
|
Asset
|
|
Fair Value
|
|
Valuation Technique
|
|
Unobservable Input
|
|
Range
|
|
Weighted
Average (d)
|
|||||
|
Senior secured debt
|
|
$
|
1,467,665
|
|
|
Bond yield approach
|
|
Capital structure premium
|
|
(a)
|
0.0%
|
-
|
2.0%
|
|
0.5%
|
|
|
|
|
|
|
|
Tranche specific risk premium/(discount)
|
|
(a)
|
(4.0)%
|
-
|
13.0%
|
|
2.0%
|
||
|
|
|
|
|
|
|
Size premium
|
|
(a)
|
0.5%
|
-
|
2.0%
|
|
1.1%
|
||
|
|
|
|
|
|
|
Industry premium/(discount)
|
|
(a)
|
(1.1)%
|
-
|
3.3%
|
|
0.3%
|
||
|
Subordinated debt
|
|
296,298
|
|
|
Bond yield approach
|
|
Capital structure premium
|
|
(a)
|
2.0%
|
-
|
2.0%
|
|
2.0%
|
|
|
|
|
|
|
|
|
Tranche specific risk premium
|
|
(a)
|
1.0%
|
-
|
11.0%
|
|
4.7%
|
||
|
|
|
|
|
|
|
Size premium
|
|
(a)
|
0.5%
|
-
|
2.0%
|
|
1.1%
|
||
|
|
|
|
|
|
|
Industry premium/(discount)
|
|
(a)
|
(1.0)%
|
-
|
1.4%
|
|
0.0%
|
||
|
CLO debt
|
|
29,500
|
|
(c)
|
Recent market transaction
|
|
Market yield
|
|
|
11.4%
|
|
11.4%
|
|
11.4%
|
|
|
Preferred, common and other equity
|
|
99,583
|
|
|
Market and income approach
|
|
Weighted average cost of capital
|
|
|
11.0%
|
-
|
31.0%
|
|
17.4%
|
|
|
|
|
|
|
|
|
Company specific risk premium
|
|
(a)
|
1.0%
|
-
|
15.0%
|
|
2.4%
|
||
|
|
|
|
|
|
|
Revenue growth rate
|
|
|
0.6%
|
-
|
81.9%
|
|
8.4%
|
||
|
|
|
|
|
|
|
EBITDA multiple
|
|
(b)
|
5.4x
|
-
|
15.3x
|
|
7.4x
|
||
|
|
|
|
|
|
|
Revenue multiple
|
|
(b)
|
4.1x
|
-
|
5.3x
|
|
4.7x
|
||
|
|
|
|
|
|
|
Book value multiple
|
|
(b)
|
0.9x
|
-
|
1.1x
|
|
1.0x
|
||
|
Total
|
|
$
|
1,893,046
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a)
|
Used when market participant would take into account this premium or discount when pricing the investment.
|
|
(b)
|
Used when market participant would use such multiples when pricing the investment.
|
|
(c)
|
The Company's $29.5 million CLO debt investment in Salus CLO 2012-1, Ltd. was valued at its acquisition price as it closed near fiscal year end.
|
|
(d)
|
Weighted averages are calculated based on fair value of investments.
|
|
|
Carrying
Value
|
|
Fair Value
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||||
|
Credit facilities payable
|
$
|
535,181
|
|
|
$
|
535,181
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
535,181
|
|
|
SBA debentures payable
|
225,000
|
|
|
200,560
|
|
|
—
|
|
|
—
|
|
|
200,560
|
|
|||||
|
Unsecured convertible notes payable
|
115,000
|
|
|
121,613
|
|
|
—
|
|
|
—
|
|
|
121,613
|
|
|||||
|
Unsecured notes payable
|
409,878
|
|
|
420,530
|
|
|
—
|
|
|
160,380
|
|
|
260,150
|
|
|||||
|
Total
|
$
|
1,285,059
|
|
|
$
|
1,277,884
|
|
|
$
|
—
|
|
|
$
|
160,380
|
|
|
$
|
1,117,504
|
|
|
|
|
Carrying
Value
|
|
Fair Value
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||||
|
Credit facilities payable
|
|
$
|
188,000
|
|
|
$
|
188,000
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
188,000
|
|
|
SBA debentures payable
|
|
181,750
|
|
|
156,073
|
|
|
—
|
|
|
—
|
|
|
156,073
|
|
|||||
|
Unsecured convertible notes payable
|
|
115,000
|
|
|
122,331
|
|
|
—
|
|
|
—
|
|
|
122,331
|
|
|||||
|
Unsecured notes payable
|
|
161,250
|
|
|
151,008
|
|
|
—
|
|
|
151,008
|
|
|
—
|
|
|||||
|
Total
|
|
$
|
646,000
|
|
|
$
|
617,412
|
|
|
$
|
—
|
|
|
$
|
151,008
|
|
|
$
|
466,404
|
|
|
|
June 30, 2014
|
|
September 30, 2013
|
||||
|
Lift Brands Holdings, Inc.
|
$
|
18,000
|
|
|
$
|
—
|
|
|
BMC Software Finance, Inc.
|
15,000
|
|
|
—
|
|
||
|
Yeti Acquisition, LLC
|
12,000
|
|
|
7,500
|
|
||
|
Desert NDT, LLC
|
11,134
|
|
|
—
|
|
||
|
Drugtest, Inc.
|
10,900
|
|
|
20,000
|
|
||
|
RP Crown Parent, LLC
|
10,000
|
|
|
9,000
|
|
||
|
P2 Upstream Acquisition Co.
|
10,000
|
|
|
—
|
|
||
|
First Choice ER, LLC (1)
|
9,181
|
|
|
—
|
|
||
|
InMotion Entertainment Group, LLC
|
7,669
|
|
|
—
|
|
||
|
Pingora MSR Opportunity Fund I, LP (limited partnership interest)
|
7,528
|
|
|
9,792
|
|
||
|
Thing5, LLC
|
6,000
|
|
|
—
|
|
||
|
Med-Data, Incorporated
|
6,000
|
|
|
—
|
|
||
|
Integrated Petroleum Technologies, Inc.
|
5,397
|
|
|
—
|
|
||
|
I Drive Safely, LLC
|
5,000
|
|
|
5,000
|
|
||
|
First American Payment Systems, LP
|
4,933
|
|
|
5,000
|
|
||
|
Adventure Interactive, Corp.
|
4,846
|
|
|
5,000
|
|
||
|
World 50, Inc.
|
4,000
|
|
|
4,000
|
|
||
|
Charter Brokerage, LLC
|
4,000
|
|
|
4,000
|
|
||
|
Enhanced Recovery Company, LLC
|
4,000
|
|
|
3,500
|
|
||
|
OnCourse Learning Corporation
|
4,000
|
|
|
—
|
|
||
|
Discovery Practice Management, Inc.
|
3,732
|
|
|
1,000
|
|
||
|
Refac Optical Group
|
3,600
|
|
|
8,000
|
|
||
|
Teaching Strategies, LLC
|
3,500
|
|
|
5,000
|
|
||
|
All Web Leads, Inc.
|
3,500
|
|
|
—
|
|
||
|
Deltek, Inc.
|
3,213
|
|
|
8,667
|
|
||
|
OmniSYS Acquisition Corporation
|
2,500
|
|
|
—
|
|
||
|
Eagle Hospital Physicians, Inc.
|
2,287
|
|
|
1,867
|
|
||
|
Chicago Growth Partners, LP (limited partnership interest)
|
2,000
|
|
|
2,000
|
|
||
|
Personable Holdings, Inc.
|
1,824
|
|
|
3,409
|
|
||
|
CPASS Acquisition Company
|
1,750
|
|
|
2,500
|
|
||
|
Olson + Co., Inc.
|
1,673
|
|
|
2,105
|
|
||
|
Tailwind Capital Partners II, LP (limited partnership interest)
|
1,612
|
|
|
—
|
|
||
|
Beecken Petty O'Keefe Fund IV, LP (limited partnership interest)
|
1,609
|
|
|
2,000
|
|
||
|
Riverside Fund V, LP (limited partnership interest)
|
1,582
|
|
|
1,712
|
|
||
|
SPC Partners V, LP (limited partnership interest)
|
1,571
|
|
|
—
|
|
||
|
CCCG, LLC
|
1,520
|
|
|
1,520
|
|
||
|
Sterling Capital Partners IV, LP (limited partnership interest)
|
1,380
|
|
|
1,528
|
|
||
|
Phoenix Brands Merger Sub LLC
|
1,286
|
|
|
3,429
|
|
||
|
Moelis Capital Partners Opportunity Fund I-B, LP (limited partnership interest)
|
1,285
|
|
|
—
|
|
||
|
Ansira Partners, Inc.
|
1,190
|
|
|
1,190
|
|
||
|
Psilos Group Partners IV, LP (limited partnership interest)
|
1,000
|
|
|
1,000
|
|
||
|
RCP Direct II, LP (limited partnership interest)
|
1,000
|
|
|
—
|
|
||
|
Milestone Partners IV, LP (limited partnership interest)
|
869
|
|
|
1,414
|
|
||
|
Total Military Management, Inc.
|
857
|
|
|
—
|
|
||
|
2Checkout, Inc.
|
850
|
|
|
2,850
|
|
||
|
Genoa Healthcare Holdings, LLC
|
833
|
|
|
1,000
|
|
||
|
HealthDrive Corporation
|
734
|
|
|
734
|
|
||
|
Garretson Firm Resolution Group, Inc.
|
663
|
|
|
—
|
|
||
|
Bunker Hill Capital II (QP), LP (limited partnership interest)
|
632
|
|
|
786
|
|
||
|
ACON Equity Partners III, LP (limited partnership interest)
|
587
|
|
|
671
|
|
||
|
Riverlake Equity Partners II, LP (limited partnership interest)
|
564
|
|
|
638
|
|
||
|
American Cadastre, LLC
|
530
|
|
|
—
|
|
||
|
Riverside Fund IV, LP (limited partnership interest)
|
322
|
|
|
287
|
|
||
|
RCP Direct, LP (limited partnership interest)
|
260
|
|
|
524
|
|
||
|
TransTrade Operators, Inc.
|
255
|
|
|
—
|
|
||
|
Baird Capital Partners V, LP (limited partnership interest)
|
174
|
|
|
351
|
|
||
|
ISG Services, LLC
|
—
|
|
|
6,000
|
|
||
|
HealthEdge Software, Inc.
|
—
|
|
|
5,000
|
|
||
|
Reliance Communications, LLC
|
—
|
|
|
2,750
|
|
||
|
Mansell Group, Inc.
|
—
|
|
|
2,000
|
|
||
|
Physicians Pharmacy Alliance, Inc.
|
—
|
|
|
2,000
|
|
||
|
Miche Bag, LLC
|
—
|
|
|
1,500
|
|
||
|
BMC Acquisition, Inc.
|
—
|
|
|
1,250
|
|
||
|
Total
|
$
|
212,332
|
|
|
$
|
149,474
|
|
|
|
June 30, 2014
|
|
|
September 30, 2013
|
|
||||||||||
|
Cost:
|
|
|
|
|
|
|
|
|
|
||||||
|
Senior secured debt
|
$
|
2,174,795
|
|
|
83.12
|
%
|
|
|
$
|
1,456,710
|
|
|
78.33
|
%
|
|
|
Subordinated debt
|
295,086
|
|
|
11.28
|
|
|
|
292,991
|
|
|
15.76
|
|
|
||
|
CLO debt
|
29,500
|
|
|
1.13
|
|
|
|
29,500
|
|
|
1.59
|
|
|
||
|
Purchased equity
|
101,593
|
|
|
3.88
|
|
|
|
71,835
|
|
|
3.86
|
|
|
||
|
Equity grants
|
5,409
|
|
|
0.21
|
|
|
|
4,316
|
|
|
0.23
|
|
|
||
|
Limited partnership interests
|
10,026
|
|
|
0.38
|
|
|
|
4,299
|
|
|
0.23
|
|
|
||
|
Total
|
$
|
2,616,409
|
|
|
100.00
|
%
|
|
|
$
|
1,859,651
|
|
|
100.00
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Fair Value:
|
|
|
|
|
|
|
|
|
|
||||||
|
Senior secured debt
|
$
|
2,161,621
|
|
|
82.26
|
%
|
|
|
$
|
1,467,665
|
|
|
77.53
|
%
|
|
|
Subordinated debt
|
294,191
|
|
|
11.20
|
|
|
|
296,298
|
|
|
15.65
|
|
|
||
|
CLO debt
|
29,500
|
|
|
1.12
|
|
|
|
29,500
|
|
|
1.56
|
|
|
||
|
Purchased equity
|
126,121
|
|
|
4.80
|
|
|
|
89,688
|
|
|
4.74
|
|
|
||
|
Equity grants
|
6,650
|
|
|
0.25
|
|
|
|
5,599
|
|
|
0.30
|
|
|
||
|
Limited partnership interests
|
9,734
|
|
|
0.37
|
|
|
|
4,296
|
|
|
0.22
|
|
|
||
|
Total
|
$
|
2,627,817
|
|
|
100.00
|
%
|
|
|
$
|
1,893,046
|
|
|
100.00
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
June 30, 2014
|
|
|
September 30, 2013
|
|
||||||||||
|
Cost:
|
|
|
|
|
|
|
|
|
|
||||||
|
Northeast U.S.
|
$
|
754,331
|
|
|
28.83
|
%
|
|
|
$
|
744,582
|
|
|
40.04
|
%
|
|
|
Southwest U.S.
|
592,593
|
|
|
22.65
|
|
|
|
279,369
|
|
|
15.02
|
|
|
||
|
Midwest U.S.
|
446,733
|
|
|
17.07
|
|
|
|
314,653
|
|
|
16.92
|
|
|
||
|
Southeast U.S.
|
405,585
|
|
|
15.50
|
|
|
|
277,342
|
|
|
14.91
|
|
|
||
|
West U.S.
|
324,063
|
|
|
12.39
|
|
|
|
242,705
|
|
|
13.05
|
|
|
||
|
International
|
93,103
|
|
|
3.56
|
|
|
|
1,000
|
|
|
0.06
|
|
|
||
|
Total
|
$
|
2,616,409
|
|
|
100.00
|
%
|
|
|
$
|
1,859,651
|
|
|
100.00
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Fair Value:
|
|
|
|
|
|
|
|
|
|
||||||
|
Northeast U.S.
|
$
|
766,158
|
|
|
29.16
|
%
|
|
|
$
|
753,263
|
|
|
39.79
|
%
|
|
|
Southwest U.S.
|
585,015
|
|
|
22.26
|
|
|
|
280,247
|
|
|
14.80
|
|
|
||
|
Midwest U.S.
|
448,256
|
|
|
17.06
|
|
|
|
317,958
|
|
|
16.80
|
|
|
||
|
Southeast U.S.
|
413,073
|
|
|
15.72
|
|
|
|
285,648
|
|
|
15.09
|
|
|
||
|
West U.S.
|
321,293
|
|
|
12.23
|
|
|
|
252,730
|
|
|
13.35
|
|
|
||
|
International
|
94,022
|
|
|
3.57
|
|
|
|
3,200
|
|
|
0.17
|
|
|
||
|
Total
|
$
|
2,627,817
|
|
|
100.00
|
%
|
|
|
$
|
1,893,046
|
|
|
100.00
|
%
|
|
|
|
June 30, 2014
|
|
|
September 30, 2013
|
|
||||||||||
|
Cost:
|
|
|
|
|
|
|
|
|
|
||||||
|
Healthcare services
|
$
|
393,867
|
|
|
15.05
|
|
%
|
|
$
|
266,823
|
|
|
14.35
|
|
%
|
|
Education services
|
264,019
|
|
|
10.09
|
|
|
|
166,750
|
|
|
8.97
|
|
|
||
|
Oil & gas equipment services
|
243,371
|
|
|
9.30
|
|
|
|
75,426
|
|
|
4.06
|
|
|
||
|
Internet software & services
|
189,297
|
|
|
7.23
|
|
|
|
109,170
|
|
|
5.87
|
|
|
||
|
Advertising
|
164,202
|
|
|
6.28
|
|
|
|
154,026
|
|
|
8.28
|
|
|
||
|
Diversified support services
|
128,231
|
|
|
4.90
|
|
|
|
170,174
|
|
|
9.15
|
|
|
||
|
Specialized finance
|
126,985
|
|
|
4.85
|
|
|
|
124,232
|
|
|
6.68
|
|
|
||
|
IT consulting & other services
|
102,635
|
|
|
3.92
|
|
|
|
82,440
|
|
|
4.43
|
|
|
||
|
Airlines
|
100,070
|
|
|
3.82
|
|
|
|
24,475
|
|
|
1.32
|
|
|
||
|
Pharmaceuticals
|
81,263
|
|
|
3.11
|
|
|
|
51,538
|
|
|
2.77
|
|
|
||
|
Healthcare equipment
|
80,856
|
|
|
3.09
|
|
|
|
70,494
|
|
|
3.79
|
|
|
||
|
Specialty stores
|
63,756
|
|
|
2.44
|
|
|
|
68,386
|
|
|
3.68
|
|
|
||
|
Leisure facilities
|
63,001
|
|
|
2.41
|
|
|
|
43
|
|
|
—
|
|
|
||
|
Human resources & employment services
|
62,841
|
|
|
2.40
|
|
|
|
64,944
|
|
|
3.49
|
|
|
||
|
Data processing & outsourced services
|
60,238
|
|
|
2.30
|
|
|
|
23,200
|
|
|
1.25
|
|
|
||
|
Industrial machinery
|
53,234
|
|
|
2.03
|
|
|
|
16,883
|
|
|
0.91
|
|
|
||
|
Apparel, accessories & luxury goods
|
43,976
|
|
|
1.68
|
|
|
|
28,385
|
|
|
1.53
|
|
|
||
|
Household products
|
36,687
|
|
|
1.40
|
|
|
|
29,677
|
|
|
1.60
|
|
|
||
|
Air freight and logistics
|
35,045
|
|
|
1.34
|
|
|
|
16,693
|
|
|
0.90
|
|
|
||
|
Construction and engineering
|
34,165
|
|
|
1.31
|
|
|
|
32,577
|
|
|
1.75
|
|
|
||
|
Leisure products
|
34,043
|
|
|
1.30
|
|
|
|
47,222
|
|
|
2.54
|
|
|
||
|
Asset management & custody banks
|
29,500
|
|
|
1.13
|
|
|
|
29,500
|
|
|
1.59
|
|
|
||
|
Consumer electronics
|
29,227
|
|
|
1.12
|
|
|
|
—
|
|
|
—
|
|
|
||
|
Home improvement retail
|
28,318
|
|
|
1.08
|
|
|
|
28,726
|
|
|
1.54
|
|
|
||
|
Cable & satellite
|
27,000
|
|
|
1.03
|
|
|
|
—
|
|
|
—
|
|
|
||
|
Application software
|
22,024
|
|
|
0.84
|
|
|
|
12,879
|
|
|
0.69
|
|
|
||
|
Food distributors
|
17,514
|
|
|
0.67
|
|
|
|
18,435
|
|
|
0.99
|
|
|
||
|
Integrated telecommunication services
|
16,591
|
|
|
0.63
|
|
|
|
—
|
|
|
—
|
|
|
||
|
Research & consulting services
|
14,970
|
|
|
0.57
|
|
|
|
17,521
|
|
|
0.94
|
|
|
||
|
Specialty chemicals
|
13,500
|
|
|
0.52
|
|
|
|
20,000
|
|
|
1.08
|
|
|
||
|
Security & alarm services
|
13,244
|
|
|
0.51
|
|
|
|
13,124
|
|
|
0.71
|
|
|
||
|
Healthcare technology
|
12,975
|
|
|
0.50
|
|
|
|
—
|
|
|
—
|
|
|
||
|
Other diversified financial services
|
12,773
|
|
|
0.49
|
|
|
|
41,888
|
|
|
2.25
|
|
|
||
|
Multi-sector holdings
|
7,554
|
|
|
0.29
|
|
|
|
4,091
|
|
|
0.20
|
|
|
||
|
Systems software
|
5,464
|
|
|
0.21
|
|
|
|
—
|
|
|
—
|
|
|
||
|
Thrift & mortgage finance
|
2,472
|
|
|
0.09
|
|
|
|
208
|
|
|
0.01
|
|
|
||
|
Auto parts & equipment
|
1,500
|
|
|
0.07
|
|
|
|
33,061
|
|
|
1.78
|
|
|
||
|
Environmental & facilities services
|
—
|
|
|
—
|
|
|
|
8,755
|
|
|
0.47
|
|
|
||
|
Construction materials
|
—
|
|
|
—
|
|
|
|
7,170
|
|
|
0.39
|
|
|
||
|
Building products
|
—
|
|
|
—
|
|
|
|
735
|
|
|
0.04
|
|
|
||
|
Total
|
$
|
2,616,409
|
|
|
100.00
|
|
%
|
|
$
|
1,859,651
|
|
|
100.00
|
|
%
|
|
|
June 30, 2014
|
|
|
September 30, 2013
|
|
||||||||||
|
Fair Value:
|
|
|
|
|
|
|
|
|
|
||||||
|
Healthcare services
|
$
|
398,952
|
|
|
15.18
|
|
%
|
|
$
|
273,880
|
|
|
14.47
|
|
%
|
|
Education services
|
263,247
|
|
|
10.02
|
|
|
|
168,492
|
|
|
8.90
|
|
|
||
|
Oil & gas equipment services
|
242,890
|
|
|
9.24
|
|
|
|
76,454
|
|
|
4.04
|
|
|
||
|
Internet software & services
|
192,567
|
|
|
7.33
|
|
|
|
114,077
|
|
|
6.03
|
|
|
||
|
Advertising
|
163,895
|
|
|
6.24
|
|
|
|
154,777
|
|
|
8.18
|
|
|
||
|
Specialized finance
|
135,138
|
|
|
5.14
|
|
|
|
124,400
|
|
|
6.57
|
|
|
||
|
Diversified support services
|
127,659
|
|
|
4.86
|
|
|
|
171,078
|
|
|
9.04
|
|
|
||
|
Airlines
|
104,517
|
|
|
3.98
|
|
|
|
24,475
|
|
|
1.29
|
|
|
||
|
IT consulting & other services
|
103,540
|
|
|
3.94
|
|
|
|
83,916
|
|
|
4.43
|
|
|
||
|
Pharmaceuticals
|
82,849
|
|
|
3.15
|
|
|
|
52,787
|
|
|
2.79
|
|
|
||
|
Healthcare equipment
|
81,404
|
|
|
3.10
|
|
|
|
70,866
|
|
|
3.74
|
|
|
||
|
Leisure facilities
|
63,606
|
|
|
2.42
|
|
|
|
190
|
|
|
0.01
|
|
|
||
|
Human resources & employment services
|
63,451
|
|
|
2.41
|
|
|
|
65,391
|
|
|
3.45
|
|
|
||
|
Specialty stores
|
61,611
|
|
|
2.34
|
|
|
|
69,024
|
|
|
3.65
|
|
|
||
|
Data processing & outsourced services
|
61,336
|
|
|
2.33
|
|
|
|
23,295
|
|
|
1.23
|
|
|
||
|
Industrial machinery
|
54,339
|
|
|
2.07
|
|
|
|
18,197
|
|
|
0.96
|
|
|
||
|
Construction and engineering
|
42,598
|
|
|
1.62
|
|
|
|
40,919
|
|
|
2.16
|
|
|
||
|
Leisure products
|
36,748
|
|
|
1.40
|
|
|
|
49,952
|
|
|
2.64
|
|
|
||
|
Household products
|
35,383
|
|
|
1.35
|
|
|
|
29,264
|
|
|
1.55
|
|
|
||
|
Apparel, accessories & luxury goods
|
31,006
|
|
|
1.18
|
|
|
|
27,724
|
|
|
1.46
|
|
|
||
|
Asset management & custody banks
|
29,500
|
|
|
1.12
|
|
|
|
29,500
|
|
|
1.56
|
|
|
||
|
Consumer electronics
|
29,121
|
|
|
1.11
|
|
|
|
—
|
|
|
—
|
|
|
||
|
Home improvement retail
|
28,572
|
|
|
1.09
|
|
|
|
28,677
|
|
|
1.51
|
|
|
||
|
Cable & satellite
|
27,000
|
|
|
1.03
|
|
|
|
—
|
|
|
—
|
|
|
||
|
Air freight and logistics
|
24,629
|
|
|
0.94
|
|
|
|
14,063
|
|
|
0.74
|
|
|
||
|
Application software
|
22,680
|
|
|
0.86
|
|
|
|
13,500
|
|
|
0.71
|
|
|
||
|
Food distributors
|
17,684
|
|
|
0.67
|
|
|
|
18,732
|
|
|
0.99
|
|
|
||
|
Integrated telecommunication services
|
16,600
|
|
|
0.63
|
|
|
|
—
|
|
|
—
|
|
|
||
|
Research & consulting services
|
14,971
|
|
|
0.57
|
|
|
|
17,912
|
|
|
0.95
|
|
|
||
|
Specialty chemicals
|
13,524
|
|
|
0.51
|
|
|
|
20,000
|
|
|
1.06
|
|
|
||
|
Security & alarm services
|
13,314
|
|
|
0.51
|
|
|
|
13,104
|
|
|
0.69
|
|
|
||
|
Healthcare technology
|
13,050
|
|
|
0.50
|
|
|
|
—
|
|
|
—
|
|
|
||
|
Other diversified financial services
|
12,911
|
|
|
0.49
|
|
|
|
41,954
|
|
|
2.22
|
|
|
||
|
Multi-sector holdings
|
7,357
|
|
|
0.28
|
|
|
|
4,158
|
|
|
0.21
|
|
|
||
|
Systems software
|
5,470
|
|
|
0.21
|
|
|
|
—
|
|
|
—
|
|
|
||
|
Thrift & mortgage finance
|
2,377
|
|
|
0.09
|
|
|
|
139
|
|
|
0.01
|
|
|
||
|
Auto parts & equipment
|
2,321
|
|
|
0.09
|
|
|
|
36,004
|
|
|
1.90
|
|
|
||
|
Environmental & facilities services
|
—
|
|
|
—
|
|
|
|
8,113
|
|
|
0.43
|
|
|
||
|
Construction materials
|
—
|
|
|
—
|
|
|
|
7,297
|
|
|
0.39
|
|
|
||
|
Building products
|
—
|
|
|
—
|
|
|
|
735
|
|
|
0.04
|
|
|
||
|
Total
|
$
|
2,627,817
|
|
|
100.00
|
|
%
|
|
$
|
1,893,046
|
|
|
100.00
|
|
%
|
|
|
|
Three months
ended June 30, 2014 |
|
Three months
ended June 30, 2013 |
|
Nine months
ended June 30, 2014 |
|
Nine months
ended June 30, 2013 |
|
||||||||
|
Earnings per common share — basic:
|
|
|
|
|
|
|
|
|
|
||||||||
|
Net increase in net assets resulting from operations
|
|
$
|
20,287
|
|
|
$
|
26,006
|
|
|
$
|
84,093
|
|
|
$
|
75,684
|
|
|
|
Weighted average common shares outstanding — basic
|
|
139,138
|
|
|
118,271
|
|
|
139,134
|
|
|
106,353
|
|
|
||||
|
Earnings per common share — basic
|
|
$
|
0.15
|
|
|
$
|
0.22
|
|
|
$
|
0.60
|
|
|
$
|
0.71
|
|
|
|
Earnings per common share — diluted:
|
|
|
|
|
|
|
|
|
|
||||||||
|
Net increase in net assets resulting from operations, before adjustments
|
|
$
|
20,287
|
|
|
$
|
26,006
|
|
|
$
|
84,093
|
|
|
$
|
75,684
|
|
|
|
Adjustments for interest on convertible notes, base management fees and incentive fees
|
|
1,362
|
|
|
1,365
|
|
|
4,089
|
|
|
4,079
|
|
|
||||
|
Net increase in net assets resulting from operations, as adjusted
|
|
21,649
|
|
|
27,371
|
|
|
88,182
|
|
|
79,763
|
|
|
||||
|
Weighted average common shares outstanding — basic
|
|
139,138
|
|
|
118,271
|
|
|
139,134
|
|
|
106,353
|
|
|
||||
|
Adjustments for dilutive effect of convertible notes
|
|
7,790
|
|
|
7,790
|
|
|
7,790
|
|
|
7,790
|
|
|
||||
|
Weighted average common shares outstanding — diluted
|
|
146,928
|
|
|
126,061
|
|
|
146,924
|
|
|
114,143
|
|
|
||||
|
Earnings per common share — diluted
|
|
$
|
0.15
|
|
|
$
|
0.22
|
|
|
$
|
0.60
|
|
|
$
|
0.70
|
|
|
|
Date Declared
|
|
Record Date
|
|
Payment Date
|
|
Amount
per Share
|
|
Cash
Distribution
|
|
DRIP Shares
Issued
|
|
|
|
DRIP Shares
Value
|
||
|
August 6, 2012
|
|
October 15, 2012
|
|
October 31, 2012
|
|
$ 0.0958
|
|
|
$ 8.2 million
|
|
51,754
|
|
|
|
|
$ 0.5 million
|
|
August 6, 2012
|
|
November 15, 2012
|
|
November 30, 2012
|
|
0.0958
|
|
|
8.2 million
|
|
53,335
|
|
|
|
|
0.5 million
|
|
August 6, 2012
|
|
December 14, 2012
|
|
December 28, 2012
|
|
0.0958
|
|
|
9.5 million
|
|
64,680
|
|
|
|
|
0.6 million
|
|
August 6, 2012
|
|
January 15, 2013
|
|
January 31, 2013
|
|
0.0958
|
|
|
9.5 million
|
|
61,782
|
|
|
|
|
0.6 million
|
|
August 6, 2012
|
|
February 15, 2013
|
|
February 28, 2013
|
|
0.0958
|
|
|
9.1 million
|
|
103,356
|
|
|
|
|
1.0 million
|
|
January 14, 2013
|
|
March 15, 2013
|
|
March 29, 2013
|
|
0.0958
|
|
|
9.1 million
|
|
100,802
|
|
|
|
|
1.1 million
|
|
January 14, 2013
|
|
April 15, 2013
|
|
April 30, 2013
|
|
0.0958
|
|
|
10.3 million
|
|
111,167
|
|
|
|
|
1.2 million
|
|
January 14, 2013
|
|
May 15, 2013
|
|
May 31, 2013
|
|
0.0958
|
|
|
10.3 million
|
|
127,152
|
|
|
|
|
1.3 million
|
|
May 6, 2013
|
|
June 14, 2013
|
|
June 28, 2013
|
|
0.0958
|
|
|
10.5 million
|
|
112,821
|
|
|
|
|
1.1 million
|
|
May 6, 2013
|
|
July 15, 2013
|
|
July 31, 2013
|
|
0.0958
|
|
|
10.2 million
|
|
130,944
|
|
|
|
|
1.3 million
|
|
May 6, 2013
|
|
August 15, 2013
|
|
August 30, 2013
|
|
0.0958
|
|
|
10.3 million
|
|
136,052
|
|
|
|
|
1.3 million
|
|
August 5, 2013
|
|
September 13, 2013
|
|
September 30, 2013
|
|
0.0958
|
|
|
10.3 million
|
|
135,027
|
|
|
|
|
1.3 million
|
|
August 5, 2013
|
|
October 15, 2013
|
|
October 31, 2013
|
|
0.0958
|
|
|
11.9 million
|
|
142,320
|
|
|
|
|
1.4 million
|
|
August 5, 2013
|
|
November 15, 2013
|
|
November 29, 2013
|
|
0.0958
|
|
|
12.0 million
|
|
145,063
|
|
|
(1)
|
|
1.4 million
|
|
November 21, 2013
|
|
December 13, 2013
|
|
December 30, 2013
|
|
0.05
|
|
|
6.3 million
|
|
69,291
|
|
|
(1)
|
|
0.6 million
|
|
November 21, 2013
|
|
January 15, 2014
|
|
January 31, 2014
|
|
0.0833
|
|
|
10.5 million
|
|
114,033
|
|
|
(1)
|
|
1.1 million
|
|
November 21, 2013
|
|
February 14, 2014
|
|
February 28, 2014
|
|
0.0833
|
|
|
10.5 million
|
|
110,486
|
|
|
(1)
|
|
1.1 million
|
|
November 21, 2013
|
|
March 14, 2014
|
|
March 31, 2014
|
|
0.0833
|
|
|
11.0 million
|
|
64,748
|
|
|
(1)
|
|
0.6 million
|
|
November 21, 2013
|
|
April 15, 2014
|
|
April 30, 2014
|
|
0.0833
|
|
|
10.5 million
|
|
120,604
|
|
|
(1)
|
|
1.1 million
|
|
November 21, 2013
|
|
May 15, 2014
|
|
May 30, 2014
|
|
0.0833
|
|
|
11.1 million
|
|
58,003
|
|
|
(1)
|
|
0.5 million
|
|
February 6, 2014
|
|
June 16, 2014
|
|
June 30, 2014
|
|
0.0833
|
|
|
11.1 million
|
|
51,692
|
|
|
|
|
0.5 million
|
|
|
Nine months
ended June 30, 2014 |
|
Nine months
ended June 30, 2013 |
||||
|
PIK balance at beginning of period
|
$
|
23,934
|
|
|
$
|
18,431
|
|
|
Gross PIK interest accrued
|
17,470
|
|
|
12,556
|
|
||
|
PIK income reserves(1)
|
(90
|
)
|
|
(745
|
)
|
||
|
PIK interest received in cash
|
(6,441
|
)
|
|
(5,492
|
)
|
||
|
Loan exits and other PIK adjustments
|
(421
|
)
|
|
(2,769
|
)
|
||
|
PIK balance at end of period
|
$
|
34,452
|
|
|
$
|
21,981
|
|
|
|
June 30, 2014
|
|
|
September 30, 2013
|
|
|
June 30, 2013
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
Cost
|
|
% of Debt Portfolio
|
|
|
Fair
Value
|
|
% of Debt Portfolio
|
|
|
Cost
|
|
% of Debt Portfolio
|
|
|
Fair
Value
|
|
|
% of Debt Portfolio
|
|
|
Cost
|
|
% of Debt Portfolio
|
|
|
Fair
Value
|
|
% of Debt Portfolio
|
|
||||||||||||||||||
|
Accrual
|
$
|
2,482,129
|
|
|
99.31
|
%
|
|
|
$
|
2,479,084
|
|
|
99.75
|
%
|
|
|
$
|
1,779,201
|
|
|
100.00
|
%
|
|
|
$
|
1,793,463
|
|
|
|
100.00
|
%
|
|
|
$
|
1,706,821
|
|
|
100.00
|
%
|
|
|
$
|
1,713,260
|
|
|
100.00
|
%
|
|
|
PIK non-accrual
|
17,252
|
|
|
0.69
|
|
|
|
6,228
|
|
|
0.25
|
|
|
|
—
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
||||||
|
Cash non-accrual (1)
|
—
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
||||||
|
Total
|
$
|
2,499,381
|
|
|
100.00
|
%
|
|
|
$
|
2,485,312
|
|
|
100.00
|
%
|
|
|
$
|
1,779,201
|
|
|
100.00
|
%
|
|
|
$
|
1,793,463
|
|
|
|
100.00
|
%
|
|
|
$
|
1,706,821
|
|
|
100.00
|
%
|
|
|
$
|
1,713,260
|
|
|
100.00
|
%
|
|
|
|
June 30, 2014
|
|
September 30, 2013
|
|
June 30, 2013
|
||
|
Miche Bag, LLC
|
PIK non-accrual
|
|
—
|
|
|
—
|
|
|
|
|
Three months
ended June 30, 2014 |
|
Three months
ended June 30, 2013 |
|
Nine months
ended June 30, 2014 |
|
Nine months
ended June 30, 2013 |
|||||||
|
Cash interest income
|
|
$
|
—
|
|
|
$
|
(721)
|
(1)
|
$
|
—
|
|
|
$
|
288
|
|
|
PIK interest income
|
|
|
90
|
|
|
|
130
|
|
|
90
|
|
|
|
745
|
|
|
OID income
|
|
|
125
|
|
|
|
0
|
|
|
125
|
|
|
|
—
|
|
|
Total
|
|
$
|
215
|
|
|
$
|
(591)
|
|
$
|
215
|
|
|
$
|
1,033
|
|
|
|
|
|
Three months
ended June 30, 2014 |
|
Nine months
ended June 30, 2014 |
||||
|
Net increase in net assets resulting from operations
|
|
|
$
|
20,287
|
|
|
$
|
84,093
|
|
|
Net unrealized depreciation on investments and secured borrowings
|
|
|
13,731
|
|
|
22,042
|
|
||
|
Book/tax difference due to deferred loan fees
|
|
|
(2,784
|
)
|
|
(4,065
|
)
|
||
|
Book/tax difference due to organizational and deferred offering costs
|
|
|
(22
|
)
|
|
(44
|
)
|
||
|
Book/tax difference due to capital losses not recognized
|
|
|
646
|
|
|
(1,020
|
)
|
||
|
Other book/tax differences
|
|
|
(194
|
)
|
|
(471
|
)
|
||
|
Taxable/Distributable Income (1)
|
|
|
$
|
31,664
|
|
|
$
|
100,535
|
|
|
•
|
In October and December 2013, the Company received payments of $3.2 million from Stackpole Powertrain International Holding, L.P. related to the sale of its equity investment. A realized gain of $2.2 million was recorded on this transaction;
|
|
•
|
In October 2013, the Company received a payment of $8.9 million from Harden Healthcare, LLC in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on the transaction;
|
|
•
|
In October 2013, the Company received a payment of $4.0 million from Capital Equipment Group, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on the transaction. The Company also received an additional $0.9 million in connection with the sale of its common equity investment, realizing a gain of $0.6 million;
|
|
•
|
In November 2013, the Company received a payment of $10.0 million from IG Investments Holdings, LLC in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on the transaction;
|
|
•
|
In November 2013, the Company received a payment of $15.7 million from CTM Group, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on the transaction;
|
|
•
|
In December 2013, the Company received a payment of $0.4 million in connection with the exit of its debt investment in Saddleback Fence and Vinyl Products, Inc. A realized loss of $0.3 million was recorded on this transaction;
|
|
•
|
In December 2013, the Company received a payment of $7.2 million from Western Emulsions, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on the transaction;
|
|
•
|
In January 2014, the Company received a payment of $5.1 million from BMC Acquisition, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on the transaction;
|
|
•
|
In February 2014, the Company received a payment of $17.8 million from Ikaria Acquisition, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on the transaction;
|
|
•
|
In February 2014, the Company received a payment of $30.8 million from Dexter Axle Company in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on the transaction;
|
|
•
|
In March 2014, the Company received a payment of $9.9 million from Vestcom International, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on the transaction;
|
|
•
|
In April 2014, the Company received a payment of $16.0 million from Renaissance Learning, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on the transaction;
|
|
•
|
In April 2014, the Company received a payment of $32.4 million from Reliance Communications, LLC in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on the transaction;
|
|
•
|
In May 2014, the Company received a payment of $15.0 million from TravelClick, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on the transaction;
|
|
•
|
In May 2014, the Company received a payment of $20.0 million from Joerns Healthcare, LLC in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on the transaction;
|
|
•
|
In May 2014, the Company received a payment of $97.2 million from ISG Services, LLC in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on the transaction; and
|
|
•
|
During the nine months ended
June 30, 2014
, the Company received payments of $279.5 million in connection with syndications of debt investments to other investors and sales of debt investments in the open market and recorded a net realized loss of $1.5 million.
|
|
•
|
In October 2012, the Company received a payment of $4.2 million from Rail Acquisition Corp. in full satisfaction of all obligations related to the revolving loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on this transaction;
|
|
•
|
In October 2012, the Company received a payment of $5.4 million from Bojangles in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on this transaction;
|
|
•
|
In October 2012, the Company received a payment of $21.9 million from Blue Coat Systems, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In October 2012, the Company received a payment of $9.9 million from Insight Pharmaceuticals LLC in full satisfaction of all obligations related to the first lien loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In November 2012, the Company received a payment of $8.5 million from SolutionSet, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on this transaction;
|
|
•
|
In January 2013, the Company received a cash payment of $30.2 million from NDSSI Holdings, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on this transaction. The Company also received an additional $3.0 million in connection with the sale of its preferred equity investment (including accumulated PIK of $0.9 million), realizing a gain or $0.1 million;
|
|
•
|
In January 2013, the Company received a cash payment of $44.6 million from Welocalize, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In February 2013, the Company received a cash payment of $14.6 million from Edmentum, Inc. in full satisfaction of all obligations under the first lien loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In February 2013, the Company received a cash payment of $7.1 million from Advanced Pain Management Holdings, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on this transaction;
|
|
•
|
In March 2013, the Company received a cash payment of $10.0 million from eResearch Technology, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In March 2013, the Company received a cash payment of $15.0 million from AdVenture Interactive Corp. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on this transaction;
|
|
•
|
In March 2013, the Company received a cash payment of $19.5 million from idX Corporation in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In April 2013, the Company realized a loss in the amount of $11.2 million after the senior-most creditors foreclosed on the assets of Coll Materials Group, LLC. The Company maintains a $1.0 million receivable related to a financial guarantee related to the transaction;
|
|
•
|
In April 2013, the Company received a cash payment of $14.1 million from Huddle House, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In April 2013, the Company received a cash payment of $20.4 million from Slate Pharmaceuticals Acquisition Corp. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In April 2013, the Company received a cash payment of $12.5 million from Securus Technologies Holdings, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In May 2013, the Company received a cash payment of $9.6 million from ConvergeOne Holdings Corp. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on this transaction;
|
|
•
|
In May 2013, the Company received a cash payment of $30.9 million from CompuCom Systems, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In May 2013, the Company received a cash payment of $31.1 million from Cardon Healthcare Network, LLC in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In May 2013, the Company restructured its investment in Trans-Trade Brokers, Inc. As part of the restructuring, the Company exchanged cash and its debt and equity securities for debt and equity securities in the restructured entity, TransTrade Operators, Inc., and recorded a realized loss in the amount of $6.1 million on this transaction;
|
|
•
|
In June 2013, the Company received a cash payment of $33.6 million from U.S. Retirement Partners, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In June 2013, the Company received a cash payment of $14.6 million from Traffic Solutions Holdings, Inc. in full satisfaction of all obligations related to the Term Loan A and Revolver under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction; and
|
|
•
|
During the nine months ended
June 30, 2013
, the Company received cash payments of $54.0 million in connection with partial sales of debt investments in the open market and recorded a net realized gain of $0.5 million.
|
|
•
|
No incentive fee is payable to the Investment Adviser in any fiscal quarter in which the Company’s Pre-Incentive Fee Net Investment Income does not exceed the hurdle rate of 2% (the “preferred return” or “hurdle”);
|
|
•
|
100% of the Company's Pre-Incentive Fee Net Investment Income with respect to that portion of such Pre-Incentive Fee Net Investment Income, if any, that exceeds the hurdle rate but is less than or equal to 2.5% in any fiscal quarter (10% annualized) is payable to the Investment Adviser. The Company refers to this portion of its Pre-Incentive Fee Net Investment Income (which exceeds the hurdle rate but is less than or equal to 2.5%) as the “catch-up.” The “catch-up” provision is intended to provide the Investment Adviser with an incentive fee of 20% on all of the Company's Pre-Incentive Fee Net Investment Income as if a hurdle rate did not apply when the Company's Pre-Incentive Fee Net Investment Income exceeds 2.5% in any fiscal quarter; and
|
|
•
|
20% of the amount of the Company's Pre-Incentive Fee Net Investment Income, if any, that exceeds 2.5% in any fiscal quarter (10% annualized) is payable to the Investment Adviser once the hurdle is reached and the catch-up is achieved (20% of all Pre-Incentive Fee Net Investment Income thereafter is allocated to the Investment Adviser).
|
|
|
|
Three months
ended June 30, 2014 |
|
Three months
ended June 30, 2013 |
|
Nine months
ended June 30, 2014 |
|
Nine months
ended June 30, 2013 |
|
|
Net asset value at beginning of period
|
|
$9.81
|
|
$9.90
|
|
$9.85
|
|
$9.92
|
|
|
Net investment income (5)
|
|
0.25
|
|
0.26
|
|
0.76
|
|
0.81
|
|
|
Net unrealized appreciation (depreciation) on investments and secured borrowings (5)
|
|
(0.10)
|
|
0.11
|
|
(0.17)
|
|
0.06
|
|
|
Net realized gains (losses) on investments (5)
|
|
0.00
|
|
(0.15)
|
|
0.01
|
|
(0.16)
|
|
|
Distributions of ordinary income (5)
|
|
(0.25)
|
|
(0.29)
|
|
(0.74)
|
|
(0.87)
|
|
|
Issuance of common stock (5)
|
|
—
|
|
0.07
|
|
—
|
|
0.14
|
|
|
Net asset value at end of period
|
|
$9.71
|
|
$9.90
|
|
$9.71
|
|
$9.90
|
|
|
Per share market value at beginning of period
|
|
$9.46
|
|
$11.02
|
|
$10.29
|
|
$10.98
|
|
|
Per share market value at end of period
|
|
$9.83
|
|
$10.45
|
|
$9.83
|
|
$10.45
|
|
|
Total return (1)
|
|
6.68%
|
|
(2.45)%
|
|
3.21%
|
|
3.52%
|
|
|
Common shares outstanding at beginning of period
|
|
139,138
|
|
106,209
|
|
139,041
|
|
91,048
|
|
|
Common shares outstanding at end of period
|
|
139,189
|
|
120,996
|
|
139,189
|
|
120,996
|
|
|
Net assets at beginning of period
|
|
$1,365,297
|
|
$1,050,961
|
|
$1,368,872
|
|
$903,570
|
|
|
Net assets at end of period
|
|
$1,351,321
|
|
$1,197,268
|
|
$1,351,321
|
|
$1,197,268
|
|
|
Average net assets (2)
|
|
$1,363,835
|
|
$1,180,475
|
|
$1,369,987
|
|
$1,058,174
|
|
|
Ratio of net investment income to average net assets(3)
|
|
10.19%
|
|
10.33%
|
|
10.26%
|
|
10.90%
|
|
|
Ratio of total expenses to average net assets (excluding base management fee waiver) (3)
|
|
11.72%
|
|
9.74%
|
|
11.01%
|
|
10.18%
|
|
|
Base management fee waiver effect (3)
|
|
(0.07)%
|
|
(0.35)%
|
|
(0.03)%
|
|
(0.29)%
|
|
|
Ratio of net expenses to average net assets (3)
|
|
11.65%
|
|
9.39%
|
|
10.98%
|
|
9.89%
|
|
|
Ratio of portfolio turnover to average investments at fair value
|
|
6.94%
|
|
9.57%
|
|
13.67%
|
|
25.63%
|
|
|
Weighted average outstanding debt (4)
|
|
$1,357,445
|
|
$621,178
|
|
$1,102,730
|
|
$558,850
|
|
|
Average debt per share (5)
|
|
$9.76
|
|
$5.25
|
|
$7.93
|
|
$5.25
|
|
|
(1)
|
Total return equals the increase or decrease of ending market value over beginning market value, plus distributions, divided by the beginning market value, assuming dividend reinvestment prices obtained under the Company's DRIP. Total return is not annualized during interim periods.
|
|
(2)
|
Calculated based upon the weighted average net assets for the period.
|
|
(3)
|
Interim periods are annualized.
|
|
(4)
|
Calculated based upon the weighted average of loans payable for the period.
|
|
(5)
|
Calculated based upon weighted average shares outstanding for the period.
|
|
Portfolio Company/Type of Investment(1)
|
|
Amount of
Interest,
Fees or
Dividends
Credited in
Income(2)
|
|
Fair Value
at October 1,
2013
|
|
Gross
Additions(3)
|
|
Gross
Reductions(4)
|
|
Fair Value
at June 30, 2014
|
||||||||||
|
Control Investments
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Traffic Solutions Holdings, Inc.
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Second Lien Term Loan, 12% cash 3% PIK due 12/31/2016
|
|
$
|
1,993
|
|
|
$
|
14,499
|
|
|
$
|
699
|
|
|
$
|
(344
|
)
|
|
$
|
14,854
|
|
|
LC Facility, 8.5% cash due 12/31/2016
|
|
163
|
|
|
—
|
|
|
5
|
|
|
(5
|
)
|
|
—
|
|
|||||
|
746,114 Series A Preferred Units
|
|
1,236
|
|
|
15,891
|
|
|
1,236
|
|
|
—
|
|
|
17,127
|
|
|||||
|
746,114 Common Stock Units
|
|
—
|
|
|
10,529
|
|
|
761
|
|
|
(673
|
)
|
|
10,617
|
|
|||||
|
TransTrade Operators, Inc.
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
First Lien Term Loan, 11% cash 3% PIK due 5/31/2016
|
|
1,549
|
|
|
13,524
|
|
|
1,551
|
|
|
(3,752
|
)
|
|
11,323
|
|
|||||
|
First Lien Revolver, 8% cash due 5/31/2016
|
|
11
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
|
596.67 Series A Common Units in TransTrade Holding LLC
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
|
1,403,922 Series A Preferred Units in TransTrade Holding LLC
|
|
—
|
|
|
—
|
|
|
1,404
|
|
|
(1,404
|
)
|
|
—
|
|
|||||
|
5,200,000 Series B Preferred Units in TransTrade Holding LLC
|
|
—
|
|
|
539
|
|
|
2,167
|
|
|
(2,706
|
)
|
|
—
|
|
|||||
|
HFG Holdings, LLC
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
First Lien Term Loan, 6% cash 4% PIK due 6/10/2019
|
|
7,379
|
|
|
93,297
|
|
|
3,536
|
|
|
(313
|
)
|
|
96,520
|
|
|||||
|
860,000 Class A Units
|
|
—
|
|
|
22,346
|
|
|
7,449
|
|
|
—
|
|
|
29,795
|
|
|||||
|
First Star Aviation, LLC
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
First Lien Term Loan, 9% cash 3% PIK due 1/9/2018
|
|
3,417
|
|
|
19,211
|
|
|
16,061
|
|
|
(1,712
|
)
|
|
33,560
|
|
|||||
|
10,104,401 Common Units
|
|
—
|
|
|
5,264
|
|
|
8,672
|
|
|
—
|
|
|
13,936
|
|
|||||
|
First Star Speir Aviation 1 Limited
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
First Lien Term Loan, 9% cash due 7/30/2018
|
|
2,745
|
|
|
—
|
|
|
40,099
|
|
|
(2,074
|
)
|
|
38,025
|
|
|||||
|
1,087,445 Common Units
|
|
—
|
|
|
—
|
|
|
2,300
|
|
|
—
|
|
|
2,300
|
|
|||||
|
First Star Bermuda Aviation Limited
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
First Lien Term Loan, 9% cash 3% PIK due 8/19/2018
|
|
1,412
|
|
|
—
|
|
|
12,838
|
|
|
(1,027
|
)
|
|
11,811
|
|
|||||
|
4,256,042 Common Units
|
|
—
|
|
|
—
|
|
|
4,885
|
|
|
—
|
|
|
4,885
|
|
|||||
|
Eagle Hospital Physicians, LLC
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
First Lien Term Loan A, 8% PIK due 8/1/2016
|
|
694
|
|
|
11,149
|
|
|
697
|
|
|
(82
|
)
|
|
11,764
|
|
|||||
|
First Lien Term Loan B, 8.1% PIK due 8/1/2016
|
|
192
|
|
|
3,050
|
|
|
192
|
|
|
(24
|
)
|
|
3,218
|
|
|||||
|
First Lien Revolver, 8% cash due 8/1/2016
|
|
146
|
|
|
—
|
|
|
2,441
|
|
|
(61
|
)
|
|
2,380
|
|
|||||
|
4,100,000 Class A Common Units
|
|
—
|
|
|
6,203
|
|
|
87
|
|
|
(98
|
)
|
|
6,192
|
|
|||||
|
Total Control Investments
|
|
$
|
20,937
|
|
|
$
|
215,502
|
|
|
$
|
107,080
|
|
|
$
|
(14,275
|
)
|
|
$
|
308,307
|
|
|
Affiliate Investments
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Caregiver Services, Inc.
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Second Lien Term Loan, 10% cash 2% PIK due 6/30/2019
|
|
748
|
|
|
—
|
|
|
9,263
|
|
|
(266
|
)
|
|
8,997
|
|
|||||
|
1,080,399 shares of Series A Preferred Stock
|
|
—
|
|
|
3,256
|
|
|
448
|
|
|
—
|
|
|
3,704
|
|
|||||
|
AmBath/ReBath Holdings, Inc.
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
First Lien Term Loan A, LIBOR+7% (3% floor) cash due 4/30/2016
|
|
203
|
|
|
3,272
|
|
|
33
|
|
|
(1,120
|
)
|
|
2,185
|
|
|||||
|
First Lien Term Loan B, 12.5% cash 2.5% PIK due 4/30/2016
|
|
2,966
|
|
|
25,317
|
|
|
868
|
|
|
(305
|
)
|
|
25,880
|
|
|||||
|
4,668,788 shares of Preferred Stock
|
|
—
|
|
|
87
|
|
|
505
|
|
|
(84
|
)
|
|
508
|
|
|||||
|
Total Affiliate Investments
|
|
$
|
3,917
|
|
|
$
|
31,932
|
|
|
$
|
11,117
|
|
|
$
|
(1,775
|
)
|
|
$
|
41,274
|
|
|
Total Control & Affiliate Investments
|
|
$
|
24,854
|
|
|
$
|
247,434
|
|
|
$
|
118,197
|
|
|
$
|
(16,050
|
)
|
|
$
|
349,581
|
|
|
(1)
|
The principal amount and ownership detail as shown in the Consolidated Schedules of Investments.
|
|
(2)
|
Represents the total amount of interest, fees and dividends credited to income for the portion of the year an investment was included in the Control or Non-Control/Non-Affiliate categories, respectively.
|
|
(3)
|
Gross additions include increases in the cost basis of investments resulting from new portfolio investments, follow-on Investments and accrued PIK interest, and the exchange of one or more existing securities for one or more new securities. Gross additions also include net increases in unrealized appreciation or net decreases in unrealized depreciation as well as the movement of an existing portfolio company into this category or out of a different category.
|
|
(4)
|
Gross reductions include decreases in the cost basis of investment resulting from principal payments or sales and exchanges of one or more existing securities for one or more new securities. Gross reductions also include net increases in unrealized depreciation or net decreases in unrealized appreciation as well as the movement of an existing portfolio company out of this category and into a different category.
|
|
Portfolio Company/Type of Investment(1)
|
|
Amount of
Interest,
Fees or
Dividends
Credited in
Income(2)
|
|
Fair Value
at October 1,
2012
|
|
Gross
Additions(3)
|
|
Gross
Reductions(4)
|
|
Fair Value
at June 30, 2013 |
||||||||||
|
Control Investments
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Coll Materials Group LLC
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Second Lien Term Loan A, 12% cash due 11/1/2014
|
|
$
|
230
|
|
|
$
|
1,238
|
|
|
$
|
7,096
|
|
|
$
|
(8,334
|
)
|
|
$
|
—
|
|
|
Second Lien Term Loan B, 14% PIK due 11/1/2014
|
|
58
|
|
|
1,999
|
|
|
1,000
|
|
|
(2,999
|
)
|
|
—
|
|
|||||
|
50% interest in CD Holdco, LLC
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
|
Traffic Solutions Holdings, Inc.
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
First Lien Term Loan A, LIBOR+8.5% (1.25% floor) cash due 8/10/2015
|
|
1,323
|
|
|
15,023
|
|
|
318
|
|
|
(15,341
|
)
|
|
—
|
|
|||||
|
Second Lien Term Loan, 12% cash 3% PIK due 12/31/2016
|
|
1,634
|
|
|
14,068
|
|
|
400
|
|
|
(49
|
)
|
|
14,419
|
|
|||||
|
First Lien Revolver, LIBOR+8.5% (1.25% floor) cash due 8/10/2015
|
|
35
|
|
|
—
|
|
|
6
|
|
|
(6
|
)
|
|
—
|
|
|||||
|
LC Facility, 8.5% cash due 12/31/2016
|
|
255
|
|
|
—
|
|
|
12
|
|
|
(12
|
)
|
|
—
|
|
|||||
|
746,114 Series A Preferred Units
|
|
382
|
|
|
14,377
|
|
|
1,118
|
|
|
—
|
|
|
15,495
|
|
|||||
|
746,114 Common Stock Units
|
|
—
|
|
|
6,535
|
|
|
4,919
|
|
|
—
|
|
|
11,454
|
|
|||||
|
TransTrade Operators, Inc.
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
First Lien Term Loan, 11% cash 3% PIK due 5/31/2016
|
|
163
|
|
|
—
|
|
|
13,556
|
|
|
(49
|
)
|
|
13,507
|
|
|||||
|
First Lien Revolver, 8% cash due 5/31/2016
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
|
596.67 Series A Common Units in TransTrade Holding LLC
|
|
—
|
|
|
—
|
|
|
3,033
|
|
|
(425
|
)
|
|
2,608
|
|
|||||
|
1,403,922 Series A Preferred Units in TransTrade Holding LLC
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
|
5,200,000 Series B Preferred Units in TransTrade Holding LLC
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
|
HFG Holdings, LLC
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
First Lien Term Loan, 6% cash 4% PIK due 6/10/2019
|
|
3,485
|
|
|
—
|
|
|
92,194
|
|
|
—
|
|
|
92,194
|
|
|||||
|
860,000 Class A Units
|
|
—
|
|
|
—
|
|
|
21,941
|
|
|
—
|
|
|
21,941
|
|
|||||
|
Total Control Investments
|
|
$
|
7,565
|
|
|
$
|
53,240
|
|
|
$
|
145,593
|
|
|
$
|
(27,215
|
)
|
|
$
|
171,618
|
|
|
Affiliate Investments
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Caregiver Services, Inc.
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
1,080,399 shares of Series A Preferred Stock
|
|
—
|
|
|
2,924
|
|
|
129
|
|
|
(18
|
)
|
|
3,035
|
|
|||||
|
AmBath/ReBath Holdings, Inc.
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
First Lien Term Loan A, LIBOR+7% (3% floor) cash due 4/30/2016
|
|
338
|
|
|
4,268
|
|
|
79
|
|
|
(64
|
)
|
|
4,283
|
|
|||||
|
First Lien Term Loan B, 12.5% cash 2.5% PIK due 4/30/2016
|
|
2,828
|
|
|
23,995
|
|
|
1,298
|
|
|
(261
|
)
|
|
25,032
|
|
|||||
|
4,668,788 shares of Preferred Stock
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
|
Total Affiliate Investments
|
|
$
|
3,166
|
|
|
$
|
31,187
|
|
|
$
|
1,506
|
|
|
$
|
(343
|
)
|
|
$
|
32,350
|
|
|
Total Control & Affiliate Investments
|
|
$
|
10,731
|
|
|
$
|
84,427
|
|
|
$
|
147,099
|
|
|
$
|
(27,558
|
)
|
|
$
|
203,968
|
|
|
(1)
|
The principal amount and ownership detail as shown in the Consolidated Schedules of Investments.
|
|
(2)
|
Represents the total amount of interest, fees and dividends credited to income for the portion of the year an investment was included in the Control or Non-Control/Non-Affiliate categories, respectively.
|
|
(3)
|
Gross additions include increases in the cost basis of investments resulting from new portfolio investments, follow-on Investments and accrued PIK interest, and the exchange of one or more existing securities for one or more new securities. Gross additions also include net increases in unrealized appreciation or net decreases in unrealized depreciation as well as the movement of an existing portfolio company into this category or out of a different category.
|
|
(4)
|
Gross reductions include decreases in the cost basis of investment resulting from principal payments or sales and exchanges of one or more existing securities for one or more new securities. Gross reductions also include net increases in unrealized depreciation or net decreases in unrealized appreciation as well as the movement of an existing portfolio company out of this category and into a different category.
|
|
•
|
our future operating results and dividend projections;
|
|
•
|
our business prospects and the prospects of our portfolio companies;
|
|
•
|
the impact of the investments that we expect to make;
|
|
•
|
the ability of our portfolio companies to achieve their objectives;
|
|
•
|
our expected financings and investments;
|
|
•
|
the adequacy of our cash resources and working capital; and
|
|
•
|
the timing of cash flows, if any, from the operations of our portfolio companies.
|
|
•
|
changes in the economy and the financial markets;
|
|
•
|
risks associated with possible disruption in our operations or the economy generally due to terrorism or natural disasters;
|
|
•
|
future changes in laws or regulations (including the interpretation of these laws and regulations by regulatory authorities) and conditions in our operating areas, particularly with respect to business development companies, SBICs or RICs; and
|
|
•
|
other considerations that may be disclosed from time to time in our publicly disseminated documents and filings.
|
|
•
|
The quarterly valuation process begins with each portfolio company or investment being initially valued by our finance department;
|
|
•
|
Preliminary valuations are then reviewed and discussed with principals of the investment adviser;
|
|
•
|
Separately, independent valuation firms are engaged by our Board of Directors to prepare preliminary valuations on a selected basis and submit the reports to us;
|
|
•
|
Our finance department compares and contrasts its preliminary valuations to the preliminary valuations of the independent valuation firms;
|
|
•
|
Our finance department prepares a valuation report for the Audit Committee of our Board of Directors;
|
|
•
|
The Audit Committee of our Board of Directors is apprised of the preliminary valuations of the independent valuation firms;
|
|
•
|
The Audit Committee of our Board of Directors reviews the preliminary valuations with the portfolio managers of the investment adviser, and our finance department responds and supplements the preliminary valuations to reflect any comments provided by the Audit Committee;
|
|
•
|
The Audit Committee of our Board of Directors makes a recommendation to the Board of Directors regarding the fair value of the investments in our portfolio; and
|
|
•
|
Our Board of Directors discusses the valuations and determines the fair value of each investment in our portfolio in good faith.
|
|
For the quarter ended December 31, 2011
|
89.1
|
%
|
|
For the quarter ended March 31, 2012
|
87.3
|
%
|
|
For the quarter ended June 30, 2012
|
84.3
|
%
|
|
For the quarter ended September 30, 2012
|
79.6
|
%
|
|
For the quarter ended December 31, 2012
|
79.5
|
%
|
|
For the quarter ended March 31, 2013
|
73.8
|
%
|
|
For the quarter ended June 30, 2013
|
76.4
|
%
|
|
For the quarter ended September 30, 2013
|
86.5
|
%
|
|
For the quarter ended December 31, 2013
|
78.9
|
%
|
|
For the quarter ended March 31, 2014
|
80.7
|
%
|
|
For the quarter ended June 30, 2014
|
68.5
|
%
|
|
|
June 30,
2014 |
|
September 30,
2013 |
||
|
Cost:
|
|
|
|
||
|
Senior secured debt
|
83.12
|
%
|
|
78.33
|
%
|
|
Subordinated debt
|
11.28
|
|
|
15.76
|
|
|
Collateralized loan obligation ("CLO") debt
|
1.13
|
|
|
1.59
|
|
|
Purchased equity
|
3.88
|
|
|
3.86
|
|
|
Equity grants
|
0.21
|
|
|
0.23
|
|
|
Limited partnership interests
|
0.38
|
|
|
0.23
|
|
|
Total
|
100.00
|
%
|
|
100.00
|
%
|
|
|
|
|
|
||
|
Fair Value:
|
|
|
|
||
|
Senior secured debt
|
82.26
|
%
|
|
77.53
|
%
|
|
Subordinated debt
|
11.20
|
|
|
15.65
|
|
|
CLO debt
|
1.12
|
|
|
1.56
|
|
|
Purchased equity
|
4.80
|
|
|
4.74
|
|
|
Equity grants
|
0.25
|
|
|
0.30
|
|
|
Limited partnership interests
|
0.37
|
|
|
0.22
|
|
|
Total
|
100.00
|
%
|
|
100.00
|
%
|
|
|
June 30,
2014 |
|
September 30,
2013 |
|
||
|
Cost:
|
|
|
|
|
||
|
Healthcare services
|
15.05
|
|
%
|
14.35
|
|
%
|
|
Education services
|
10.09
|
|
|
8.97
|
|
|
|
Oil & gas equipment services
|
9.30
|
|
|
4.06
|
|
|
|
Internet software & services
|
7.23
|
|
|
5.87
|
|
|
|
Advertising
|
6.28
|
|
|
8.28
|
|
|
|
Diversified support services
|
4.90
|
|
|
9.15
|
|
|
|
Specialized finance
|
4.85
|
|
|
6.68
|
|
|
|
IT consulting & other services
|
3.92
|
|
|
4.43
|
|
|
|
Airlines
|
3.82
|
|
|
1.32
|
|
|
|
Pharmaceuticals
|
3.11
|
|
|
2.77
|
|
|
|
Healthcare equipment
|
3.09
|
|
|
3.79
|
|
|
|
Specialty stores
|
2.44
|
|
|
3.68
|
|
|
|
Leisure facilities
|
2.41
|
|
|
0.00
|
|
|
|
Human resources & employment services
|
2.40
|
|
|
3.49
|
|
|
|
Data processing & outsourced services
|
2.30
|
|
|
1.25
|
|
|
|
Industrial machinery
|
2.03
|
|
|
0.91
|
|
|
|
Apparel, accessories & luxury goods
|
1.68
|
|
|
1.53
|
|
|
|
Household products
|
1.40
|
|
|
1.6
|
|
|
|
Air freight and logistics
|
1.34
|
|
|
0.90
|
|
|
|
Construction and engineering
|
1.31
|
|
|
1.75
|
|
|
|
Leisure products
|
1.30
|
|
|
2.54
|
|
|
|
Asset management & custody banks
|
1.13
|
|
|
1.59
|
|
|
|
Consumer electronics
|
1.12
|
|
|
0.00
|
|
|
|
Home improvement retail
|
1.08
|
|
|
1.54
|
|
|
|
Cable & satellite
|
1.03
|
|
|
—
|
|
|
|
Application software
|
0.84
|
|
|
0.69
|
|
|
|
Food distributors
|
0.67
|
|
|
0.99
|
|
|
|
Integrated telecommunication services
|
0.63
|
|
|
0.00
|
|
|
|
Research & consulting services
|
0.57
|
|
|
0.94
|
|
|
|
Specialty chemicals
|
0.52
|
|
|
1.08
|
|
|
|
Security & alarm services
|
0.51
|
|
|
0.71
|
|
|
|
Healthcare technology
|
0.50
|
|
|
0.00
|
|
|
|
Other diversified financial services
|
0.49
|
|
|
2.25
|
|
|
|
Multi-sector holdings
|
0.29
|
|
|
0.20
|
|
|
|
Systems software
|
0.21
|
|
|
0.00
|
|
|
|
Thrift & mortgage finance
|
0.09
|
|
|
0.01
|
|
|
|
Auto parts & equipment
|
0.07
|
|
|
1.78
|
|
|
|
Environmental & facilities services
|
—
|
|
|
0.47
|
|
|
|
Total
|
100.00
|
|
%
|
100.00
|
|
%
|
|
|
|
|
|
|
||
|
|
June 30,
2014 |
|
September 30,
2013 |
|
||
|
Fair Value:
|
|
|
|
|
||
|
Healthcare services
|
15.18
|
|
%
|
14.47
|
|
%
|
|
Education services
|
10.02
|
|
|
8.90
|
|
|
|
Oil & gas equipment services
|
9.24
|
|
|
4.04
|
|
|
|
Internet software & services
|
7.33
|
|
|
6.03
|
|
|
|
Advertising
|
6.24
|
|
|
8.18
|
|
|
|
Specialized finance
|
5.14
|
|
|
6.57
|
|
|
|
Diversified support services
|
4.86
|
|
|
9.04
|
|
|
|
Airlines
|
3.98
|
|
|
1.29
|
|
|
|
IT consulting & other services
|
3.94
|
|
|
4.43
|
|
|
|
Pharmaceuticals
|
3.15
|
|
|
2.79
|
|
|
|
Healthcare equipment
|
3.10
|
|
|
3.74
|
|
|
|
Leisure facilities
|
2.42
|
|
|
0.01
|
|
|
|
Human resources & employment services
|
2.41
|
|
|
3.45
|
|
|
|
Specialty stores
|
2.34
|
|
|
3.65
|
|
|
|
Data processing & outsourced services
|
2.33
|
|
|
1.23
|
|
|
|
Industrial machinery
|
2.07
|
|
|
0.96
|
|
|
|
Construction and engineering
|
1.62
|
|
|
2.16
|
|
|
|
Leisure products
|
1.40
|
|
|
2.64
|
|
|
|
Household products
|
1.35
|
|
|
1.55
|
|
|
|
Apparel, accessories & luxury goods
|
1.18
|
|
|
1.46
|
|
|
|
Asset management & custody banks
|
1.12
|
|
|
1.56
|
|
|
|
Consumer electronics
|
1.11
|
|
|
0.00
|
|
|
|
Home improvement retail
|
1.09
|
|
|
1.51
|
|
|
|
Cable & satellite
|
1.03
|
|
|
0.00
|
|
|
|
Air freight and logistics
|
0.94
|
|
|
0.74
|
|
|
|
Application software
|
0.86
|
|
|
0.71
|
|
|
|
Food distributors
|
0.67
|
|
|
0.99
|
|
|
|
Research & consulting services
|
0.57
|
|
|
0.95
|
|
|
|
Specialty chemicals
|
0.51
|
|
|
1.06
|
|
|
|
Security & alarm services
|
0.51
|
|
|
0.69
|
|
|
|
Healthcare technology
|
0.50
|
|
|
—
|
|
|
|
Other diversified financial services
|
0.49
|
|
|
2.22
|
|
|
|
Multi-sector holdings
|
0.28
|
|
|
0.21
|
|
|
|
Systems software
|
0.21
|
|
|
0.00
|
|
|
|
Thrift & mortgage finance
|
0.09
|
|
|
0.01
|
|
|
|
Auto parts & equipment
|
0.09
|
|
|
1.90
|
|
|
|
Construction materials
|
—
|
|
|
0.39
|
|
|
|
Building products
|
—
|
|
|
0.04
|
|
|
|
Total
|
100.00
|
|
%
|
100.00
|
|
%
|
|
•
|
Investment Ranking 1 is used for investments that are performing above expectations and/or capital gains are expected.
|
|
•
|
Investment Ranking 2 is used for investments that are performing substantially within our expectations, and whose risks remain materially consistent with the potential risks at the time of the original or restructured investment. All new investments are initially ranked 2.
|
|
•
|
Investment Ranking 3 is used for investments that are performing below our expectations and for which risk has materially increased since the original or restructured investment. The portfolio company may be out of compliance with debt covenants
|
|
•
|
Investment Ranking 4 is used for investments that are performing substantially below our expectations and for which risk has increased substantially since the original or restructured investment. Investments with a ranking of 4 are those for which some loss of principal is expected and are generally those on which we are not accruing cash interest.
|
|
|
June 30, 2014
|
|
September 30, 2013
|
|||||||||||||||||
|
Investment Ranking
|
Fair Value
|
|
% of Portfolio
|
|
|
Leverage Ratio
|
|
Fair Value
|
|
|
% of Portfolio
|
|
|
Leverage Ratio
|
||||||
|
1
|
$
|
113,271
|
|
|
4.31
|
%
|
|
|
2.24
|
|
$
|
122,769
|
|
|
|
6.49
|
%
|
|
|
2.67
|
|
2
|
2,508,318
|
|
|
95.45
|
|
|
|
4.70
|
|
1,770,277
|
|
|
|
93.51
|
|
|
|
4.70
|
||
|
3
|
6,228
|
|
|
0.24
|
|
|
|
NM
|
(1)
|
—
|
|
|
|
—
|
|
|
|
—
|
||
|
4
|
—
|
|
|
—
|
|
|
|
—
|
|
—
|
|
|
|
—
|
|
|
|
—
|
||
|
Total
|
$
|
2,627,817
|
|
|
100.00
|
%
|
|
|
4.58
|
|
$
|
1,893,046
|
|
|
|
100.00
|
%
|
|
|
4.57
|
|
|
June 30, 2014
|
|
|
September 30, 2013
|
|
|
June 30, 2013
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
Cost
|
|
% of Debt Portfolio
|
|
|
Fair
Value |
|
% of Debt Portfolio
|
|
|
Cost
|
|
% of Debt Portfolio
|
|
|
Fair
Value |
|
|
% of Debt Portfolio
|
|
|
Cost
|
|
% of Debt Portfolio
|
|
|
Fair
Value |
|
% of Debt Portfolio
|
|
||||||||||||||||||
|
Accrual
|
$
|
2,482,129
|
|
|
99.31
|
%
|
|
|
$
|
2,479,084
|
|
|
99.75
|
%
|
|
|
$
|
1,779,201
|
|
|
100.00
|
%
|
|
|
$
|
1,793,463
|
|
|
|
100.00
|
%
|
|
|
$
|
1,706,821
|
|
|
100.00
|
%
|
|
|
$
|
1,713,260
|
|
|
100.00
|
%
|
|
|
PIK non-accrual
|
17,252
|
|
|
0.69
|
|
|
|
6,228
|
|
|
0.25
|
|
|
|
—
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
||||||
|
Cash non-accrual (1)
|
—
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
||||||
|
Total
|
$
|
2,499,381
|
|
|
100.00
|
%
|
|
|
$
|
2,485,312
|
|
|
100.00
|
%
|
|
|
$
|
1,779,201
|
|
|
100.00
|
%
|
|
|
$
|
1,793,463
|
|
|
|
100.00
|
%
|
|
|
$
|
1,706,821
|
|
|
100.00
|
%
|
|
|
$
|
1,713,260
|
|
|
100.00
|
%
|
|
|
(1)
|
Cash non-accrual status is inclusive of PIK and other noncash income, where applicable.
|
|
|
June 30, 2014
|
|
September 30, 2013
|
|
June 30, 2013
|
||
|
Miche Bag, LLC
|
PIK non-accrual
|
|
—
|
|
|
—
|
|
|
|
|
Three months
ended June 30, 2014 |
|
Three months
ended June 30, 2013 |
|
Nine months
ended June 30, 2014 |
|
Nine months
ended June 30, 2013 |
||||||||
|
Cash interest income
|
|
$
|
—
|
|
|
$
|
(721
|
)
|
|
$
|
—
|
|
|
$
|
288
|
|
|
PIK interest income
|
|
|
90
|
|
|
|
130
|
|
|
|
90
|
|
|
|
745
|
|
|
OID income
|
|
|
125
|
|
|
|
—
|
|
|
|
125
|
|
|
|
—
|
|
|
Total
|
|
$
|
215
|
|
|
$
|
(591)
|
|
|
$
|
215
|
|
|
$
|
1,033
|
|
|
•
|
Base management fee, which was attributable to a
45.8%
increase in the fair value of the investment portfolio due to an increase in net investment fundings in the year-over-year period;
|
|
•
|
Part I incentive fee, which was attributable to a
14.7%
increase in pre-incentive fee net investment income for the year-over-year period; and
|
|
•
|
Interest expense, which was attributable to a
118.5%
increase in the weighted average debt outstanding for the year-over-year period.
|
|
•
|
Base management fee, which was attributable to the increase in the fair value of the investment portfolio discussed above;
|
|
•
|
|
|
•
|
Interest expense, which was attributable to a
97.3%
increase in the weighted average debt outstanding for the year-over-year period.
|
|
•
|
In October and December 2013, we received payments of $3.2 million from Stackpole Powertrain International Holding, L.P. related to the sale of our equity investment. A realized gain of $2.2 million was recorded on this transaction;
|
|
•
|
In October 2013, we received a payment of $8.9 million from Harden Healthcare, LLC in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on the transaction;
|
|
•
|
In October 2013, we received a payment of $4.0 million from Capital Equipment Group, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on the transaction. We also received an additional $0.9 million in connection with the sale of our common equity investment, realizing a gain of $0.6 million;
|
|
•
|
In November 2013, we received a payment of $10.0 million from IG Investments Holdings, LLC in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on the transaction;
|
|
•
|
In November 2013, we received a payment of $15.7 million from CTM Group, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on the transaction;
|
|
•
|
In December 2013, we received a payment of $0.4 million in connection with the exit of our debt investment in Saddleback Fence and Vinyl Products, Inc. A realized loss of $0.3 million was recorded on this transaction;
|
|
•
|
In December 2013, we received a payment of $7.2 million from Western Emulsions, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on the transaction;
|
|
•
|
In January 2014, we received a payment of $5.1 million from BMC Acquisition, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on the transaction;
|
|
•
|
In February 2014, we received a payment of $17.8 million from Ikaria Acquisition, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on the transaction;
|
|
•
|
In February 2014, we received a payment of $30.8 million from Dexter Axle Company in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on the transaction;
|
|
•
|
In March 2014, we received a payment of $9.9 million from Vestcom International, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on the transaction;
|
|
•
|
In April 2014, we received a payment of $16.0 million from Renaissance Learning, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on the transaction;
|
|
•
|
In April 2014, we received a payment of $32.4 million from Reliance Communications, LLC in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on the transaction;
|
|
•
|
In May 2014, we received a payment of $15.0 million from TravelClick, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on the transaction;
|
|
•
|
In May 2014, we received a payment of $20.0 million from Joerns Healthcare, LLC in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on the transaction;
|
|
•
|
In May 2014, we received a payment of $97.2 million from ISG Services, LLC in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on the transaction; and
|
|
•
|
During the nine months ended
June 30, 2014
, the Company received payments of $279.5 million in connection with syndications of debt investments to other investors and sales of debt investments in the open market and recorded a net realized loss of $1.5 million.
|
|
•
|
In October 2012, we received a payment of $4.2 million from Rail Acquisition Corp. in full satisfaction of all obligations related to the revolving loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on this transaction;
|
|
•
|
In October 2012, we received a payment of $5.4 million from Bojangles in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on this transaction;
|
|
•
|
In October 2012, we received a payment of $21.9 million from Blue Coat Systems, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In October 2012, we received a payment of $9.9 million from Insight Pharmaceuticals LLC in full satisfaction of all obligations related to the first lien loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In November 2012, we received a payment of $8.5 million from SolutionSet, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on this transaction;
|
|
•
|
In January 2013, we received a cash payment of $30.2 million from NDSSI Holdings, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on this transaction. The Company also received an additional $3.0 million in connection with the sale of its preferred equity investment (including accumulated PIK of $0.9 million), realizing a gain or $0.1 million;
|
|
•
|
In January 2013, we received a cash payment of $44.6 million from Welocalize, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In February 2013, we received a cash payment of $14.6 million from Edmentum, Inc. in full satisfaction of all obligations under the first lien loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In February 2013, we received a cash payment of $7.1 million from Advanced Pain Management Holdings, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on this transaction;
|
|
•
|
In March 2013, we received a cash payment of $10.0 million from eResearch Technology, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In March 2013, we received a cash payment of $15.0 million from AdVenture Interactive Corp. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on this transaction;
|
|
•
|
In March 2013, we received a cash payment of $19.5 million from idX Corporation in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In April 2013, we realized a loss in the amount of $11.2 million after the senior-most creditors foreclosed on the assets of Coll Materials Group, LLC. We maintain a $1.0 million receivable related to a financial guarantee related to the transaction;
|
|
•
|
In April 2013, we received a cash payment of $14.1 million from Huddle House, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In April 2013, we received a cash payment of $20.4 million from Slate Pharmaceuticals Acquisition Corp. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In April 2013, we received a cash payment of $12.5 million from Securus Technologies Holdings, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In May 2013, we received a cash payment of $9.6 million from ConvergeOne Holdings Corp. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par and no realized gain or loss was recorded on this transaction;
|
|
•
|
In May 2013, we received a cash payment of $30.9 million from CompuCom Systems, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In May 2013, we received a cash payment of $31.1 million from Cardon Healthcare Network, LLC in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In May 2013, we restructured our investment in Trans-Trade Brokers, Inc. As part of the restructuring, we exchanged cash and its debt and equity securities for debt and equity securities in the restructured entity, TransTrade Operators, Inc. and recorded a realized loss in the amount of $6.1 million on this transaction;
|
|
•
|
In June 2013, we received a cash payment of $33.6 million from U.S. Retirement Partners, Inc. in full satisfaction of all obligations under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction;
|
|
•
|
In June 2013, we received a cash payment of $14.6 million from Traffic Solutions Holdings, Inc. in full satisfaction of all obligations related to the Term Loan A and Revolver under the loan agreement. The debt investment was exited at par (plus additional fees) and no realized gain or loss was recorded on this transaction; and
|
|
•
|
During the nine months ended
June 30, 2013
, we received cash payments of $54.0 million in connection with partial sales of debt investments in the open market and recorded a net realized gain of $0.5 million.
|
|
Date Declared
|
|
Record Date
|
|
Payment Date
|
|
Amount
per Share
|
|
Cash
Distribution
|
|
DRIP Shares
Issued
|
|
|
|
DRIP Shares
Value
|
||
|
January 14, 2013
|
|
March 15, 2013
|
|
March 29, 2013
|
|
$ 0.0958
|
|
|
$ 9.1 million
|
|
100,802
|
|
|
|
|
$ 1.1 million
|
|
January 14, 2013
|
|
April 15, 2013
|
|
April 30, 2013
|
|
0.0958
|
|
|
10.3 million
|
|
111,167
|
|
|
|
|
1.2 million
|
|
January 14, 2013
|
|
May 15, 2013
|
|
May 31, 2013
|
|
0.0958
|
|
|
10.3 million
|
|
127,152
|
|
|
|
|
1.3 million
|
|
May 6, 2013
|
|
June 14, 2013
|
|
June 28, 2013
|
|
0.0958
|
|
|
10.5 million
|
|
112,821
|
|
|
|
|
1.1 million
|
|
May 6, 2013
|
|
July 15, 2013
|
|
July 31, 2013
|
|
0.0958
|
|
|
10.2 million
|
|
130,944
|
|
|
|
|
1.3 million
|
|
May 6, 2013
|
|
August 15, 2013
|
|
August 30, 2013
|
|
0.0958
|
|
|
10.3 million
|
|
136,052
|
|
|
|
|
1.3 million
|
|
August 5, 2013
|
|
September 13, 2013
|
|
September 30, 2013
|
|
0.0958
|
|
|
10.3 million
|
|
135,027
|
|
|
|
|
1.3 million
|
|
August 5, 2013
|
|
October 15, 2013
|
|
October 31, 2013
|
|
0.0958
|
|
|
11.9 million
|
|
142,320
|
|
|
|
|
1.4 million
|
|
August 5, 2013
|
|
November 15, 2013
|
|
November 29, 2013
|
|
0.0958
|
|
|
12.0 million
|
|
145,063
|
|
|
(1)
|
|
1.4 million
|
|
November 21, 2013
|
|
December 13, 2013
|
|
December 30, 2013
|
|
0.05
|
|
|
6.3 million
|
|
69,291
|
|
|
(1)
|
|
0.6 million
|
|
November 21, 2013
|
|
January 15, 2014
|
|
January 31, 2014
|
|
0.0833
|
|
|
10.5 million
|
|
114,033
|
|
|
(1)
|
|
1.1 million
|
|
November 21, 2013
|
|
February 14, 2014
|
|
February 28, 2014
|
|
0.0833
|
|
|
10.5 million
|
|
110,486
|
|
|
(1)
|
|
1.1 million
|
|
November 21, 2013
|
|
March 14, 2014
|
|
March 31, 2014
|
|
0.0833
|
|
|
11.0 million
|
|
64,748
|
|
|
(1)
|
|
0.6 million
|
|
November 21, 2013
|
|
April 15, 2014
|
|
April 30, 2014
|
|
0.0833
|
|
|
10.5 million
|
|
120,604
|
|
|
(1)
|
|
1.1 million
|
|
November 21, 2013
|
|
May 15, 2014
|
|
May 30, 2014
|
|
0.0833
|
|
|
11.1 million
|
|
58,003
|
|
|
(1)
|
|
0.5 million
|
|
February 6, 2014
|
|
June 16, 2014
|
|
June 30, 2014
|
|
0.0833
|
|
|
11.1 million
|
|
51,692
|
|
|
|
|
0.5 million
|
|
February 6, 2014
|
|
July 15, 2014
|
|
July 31, 2014
|
|
0.0833
|
|
|
|
|
|
|
|
|
|
|
|
February 6, 2014
|
|
August 15, 2014
|
|
August 29, 2014
|
|
0.0833
|
|
|
|
|
|
|
|
|
|
|
|
July 7, 2014
|
|
September 15, 2014
|
|
September 30, 2014
|
|
0.0917
|
|
|
|
|
|
|
|
|
|
|
|
July 7, 2014
|
|
October 15, 2014
|
|
October 31, 2014
|
|
0.0917
|
|
|
|
|
|
|
|
|
|
|
|
July 7, 2014
|
|
November 14, 2014
|
|
November 28, 2014
|
|
0.0917
|
|
|
|
|
|
|
|
|
|
|
|
Date
|
|
Transaction
|
|
Shares
|
|
Public Offering Price
|
|
|
Gross Proceeds
|
|||
|
December 7, 2012
|
|
Public offering (1)
|
|
14,725,000
|
|
$
|
10.68
|
|
|
|
|
$157.3 million
|
|
April 2013
|
|
Public offering (1)
|
|
14,435,253
|
|
10.85
|
|
|
|
|
156.5 million
|
|
|
September 26, 2013
|
|
Public offering (1)
|
|
17,643,000
|
|
10.31
|
|
|
|
|
181.9 million
|
|
|
Rate Fix Date
|
|
Debenture
Amount |
|
Fixed
Interest Rate |
|
SBA
Annual Charge |
||||
|
September 2010
|
|
$
|
73,000
|
|
|
3.215
|
%
|
|
0.285
|
%
|
|
March 2011
|
|
65,300
|
|
|
4.084
|
|
|
0.285
|
|
|
|
September 2011
|
|
11,700
|
|
|
2.877
|
|
|
0.285
|
|
|
|
Rate Fix Date
|
|
Debenture
Amount |
|
Fixed
Interest Rate |
|
SBA
Annual Charge |
|
||||
|
March 2013
|
|
$
|
31,750
|
|
|
2.351
|
%
|
|
0.804
|
%
|
|
|
March 2014
|
|
43,250
|
|
|
3.191
|
|
|
0.804
|
|
|
|
|
Financial Covenant
|
|
Description
|
|
Target Value
|
|
Reported Value (1)
|
|
Minimum shareholders’ equity
|
|
Net assets shall not be less than the greater of (a) 40% of total assets; and (b) $825 million plus 50% of the aggregate net proceeds of all sales of equity interests after August 6, 2013
|
|
$1,117 million
|
|
$1,365 million
|
|
Asset coverage ratio
|
|
Asset coverage ratio shall not be less than 2.10:1
|
|
2.10:1
|
|
2.24:1
|
|
Interest coverage ratio
|
|
Interest coverage ratio shall not be less than 2.50:1
|
|
2.50:1
|
|
4.81:1
|
|
Facility
|
|
Date
|
|
Transaction
|
|
Total
Facility
Amount
|
|
Upfront
fee Paid
|
|
Total Facility
Availability
|
|
Amount
Drawn
|
|
Remaining
Availability
|
|
Interest Rate
|
|||||
|
Wells Fargo facility
|
|
11/16/2009
|
|
Entered into credit facility
|
|
50 million
|
|
|
0.8 million
|
|
|
|
|
|
|
|
|
LIBOR + 4.00%
|
|||
|
|
|
5/26/2010
|
|
Expanded credit facility
|
|
100 million
|
|
|
0.9 million
|
|
|
|
|
|
|
|
|
LIBOR + 3.50%
|
|||
|
|
|
2/28/2011
|
|
Amended credit facility
|
|
100 million
|
|
|
0.4 million
|
|
|
|
|
|
|
|
|
LIBOR + 3.00%
|
|||
|
|
|
11/30/2011
|
|
Amended credit facility
|
|
100 million
|
|
|
—
|
|
|
|
|
|
|
|
|
LIBOR + 2.75%
|
|||
|
|
|
4/23/2012
|
|
Amended credit facility
|
|
150 million
|
|
|
1.2 million
|
|
|
|
|
|
|
|
|
LIBOR + 2.75%
|
|||
|
|
|
6/20/2013
|
|
Amended credit facility
|
|
150 million
|
|
|
—
|
|
|
|
|
|
|
|
|
LIBOR (3) + 2.50%
|
|||
|
|
|
2/21/2014
|
|
Terminated credit facility
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
|
|
ING facility
|
|
5/27/2010
|
|
Entered into credit facility
|
|
90 million
|
|
|
0.8 million
|
|
|
|
|
|
|
|
|
LIBOR + 3.50%
|
|||
|
|
|
2/22/2011
|
|
Expanded credit facility
|
|
215 million
|
|
|
1.6 million
|
|
|
|
|
|
|
|
|
LIBOR + 3.50%
|
|||
|
|
|
7/8/2011
|
|
Expanded credit facility
|
|
230 million
|
|
|
0.4 million
|
|
|
|
|
|
|
|
|
LIBOR + 3.00%/3.25%
|
|||
|
|
|
2/29/2012
|
|
Amended credit facility
|
|
230 million
|
|
|
1.5 million
|
|
|
|
|
|
|
|
|
LIBOR + 3.00%/3.25%
|
|||
|
|
|
11/30/2012
|
|
Amended credit facility
|
|
385 million
|
|
|
2.2 million
|
|
|
|
|
|
|
|
|
LIBOR + 2.75%
|
|||
|
|
|
1/7/2013
|
|
Expanded credit facility
|
|
445 million
|
|
|
0.3 million
|
|
|
|
|
|
|
|
|
LIBOR + 2.75%
|
|||
|
|
|
8/6/2013
|
|
Amended credit facility
|
|
480 million
|
|
|
1.8 million
|
|
|
|
|
|
|
|
|
LIBOR + 2.25%
|
|||
|
|
|
10/22/2013
|
|
Expanded credit facility
|
|
605 million
|
|
|
0.7 million
|
|
|
|
|
|
|
|
|
LIBOR + 2.25%
|
|||
|
|
|
1/30/2014
|
|
Expanded credit facility
|
|
650 million
|
|
|
0.1 million
|
|
|
|
|
|
|
|
|
LIBOR + 2.25%
|
|||
|
|
|
5/2/2014
|
|
Expanded credit facility
|
|
670 million
|
|
|
0.2 million
|
|
|
670 million
|
|
|
483 million
|
|
|
187 million
|
|
|
LIBOR (4) + 2.25%
|
|
SBA
|
|
2/16/2010
|
|
Received capital commitment
|
|
75 million
|
|
|
0.8 million
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
9/21/2010
|
|
Received capital commitment
|
|
150 million
|
|
|
0.8 million
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
7/23/2012
|
|
Received capital commitment
|
|
225 million
|
|
|
0.8 million
|
|
|
225 million
|
|
|
225 million
|
|
|
—
|
|
|
3.323% (2)
|
|
Sumitomo facility
|
|
9/16/2011
|
|
Entered into credit facility
|
|
200 million
|
|
|
2.5 million
|
|
|
|
|
|
|
|
|
LIBOR + 2.25%
|
|||
|
|
|
10/30/2013
|
|
Reduced credit facility
|
|
125 million
|
|
|
—
|
|
|
94 million
|
|
(1)
|
52 million
|
|
|
42 million
|
|
|
LIBOR (3) + 2.25%
|
|
(1)
|
Availability to increase upon our decision to further collateralize the facility
|
|
(2)
|
Weighted average interest rate of locked debentures (excludes the SBA annual charge)
|
|
(3)
|
1-month
|
|
(4)
|
1-, 2-, 3- or 6-month, at our option
|
|
|
June 30, 2014
|
|
September 30, 2013
|
||||
|
Lift Brands Holdings, Inc.
|
$
|
18,000
|
|
|
$
|
—
|
|
|
BMC Software Finance, Inc.
|
15,000
|
|
|
—
|
|
||
|
Yeti Acquisition, LLC
|
12,000
|
|
|
7,500
|
|
||
|
Desert NDT, LLC
|
11,134
|
|
|
—
|
|
||
|
Drugtest, Inc.
|
10,900
|
|
|
20,000
|
|
||
|
RP Crown Parent, LLC
|
10,000
|
|
|
9,000
|
|
||
|
P2 Upstream Acquisition Co.
|
10,000
|
|
|
—
|
|
||
|
First Choice ER, LLC (1)
|
9,181
|
|
|
—
|
|
||
|
InMotion Entertainment Group, LLC
|
7,669
|
|
|
—
|
|
||
|
Pingora MSR Opportunity Fund I, LP (limited partnership interest)
|
7,528
|
|
|
9,792
|
|
||
|
Thing5, LLC
|
6,000
|
|
|
—
|
|
||
|
Med-Data, Incorporated
|
6,000
|
|
|
—
|
|
||
|
Integrated Petroleum Technologies, Inc.
|
5,397
|
|
|
—
|
|
||
|
I Drive Safely, LLC
|
5,000
|
|
|
5,000
|
|
||
|
First American Payment Systems, LP
|
4,933
|
|
|
5,000
|
|
||
|
Adventure Interactive, Corp.
|
4,846
|
|
|
5,000
|
|
||
|
World 50, Inc.
|
4,000
|
|
|
4,000
|
|
||
|
Charter Brokerage, LLC
|
4,000
|
|
|
4,000
|
|
||
|
Enhanced Recovery Company, LLC
|
4,000
|
|
|
3,500
|
|
||
|
OnCourse Learning Corporation
|
4,000
|
|
|
—
|
|
||
|
Discovery Practice Management, Inc.
|
3,732
|
|
|
1,000
|
|
||
|
Refac Optical Group
|
3,600
|
|
|
8,000
|
|
||
|
Teaching Strategies, LLC
|
3,500
|
|
|
5,000
|
|
||
|
All Web Leads, Inc.
|
3,500
|
|
|
—
|
|
||
|
Deltek, Inc.
|
3,213
|
|
|
8,667
|
|
||
|
OmniSYS Acquisition Corporation
|
2,500
|
|
|
—
|
|
||
|
Eagle Hospital Physicians, Inc.
|
2,287
|
|
|
1,867
|
|
||
|
Chicago Growth Partners, LP (limited partnership interest)
|
2,000
|
|
|
2,000
|
|
||
|
Personable Holdings, Inc.
|
1,824
|
|
|
3,409
|
|
||
|
CPASS Acquisition Company
|
1,750
|
|
|
2,500
|
|
||
|
Olson + Co., Inc.
|
1,673
|
|
|
2,105
|
|
||
|
Tailwind Capital Partners II, LP (limited partnership interest)
|
1,612
|
|
|
—
|
|
||
|
Beecken Petty O'Keefe Fund IV, LP (limited partnership interest)
|
1,609
|
|
|
2,000
|
|
||
|
Riverside Fund V, LP (limited partnership interest)
|
1,582
|
|
|
1,712
|
|
||
|
SPC Partners V, LP (limited partnership interest)
|
1,571
|
|
|
—
|
|
||
|
CCCG, LLC
|
1,520
|
|
|
1,520
|
|
||
|
Sterling Capital Partners IV, LP (limited partnership interest)
|
1,380
|
|
|
1,528
|
|
||
|
Phoenix Brands Merger Sub LLC
|
1,286
|
|
|
3,429
|
|
||
|
Moelis Capital Partners Opportunity Fund I-B, LP (limited partnership interest)
|
1,285
|
|
|
—
|
|
||
|
Ansira Partners, Inc.
|
1,190
|
|
|
1,190
|
|
||
|
Psilos Group Partners IV, LP (limited partnership interest)
|
1,000
|
|
|
1,000
|
|
||
|
RCP Direct II, LP (limited partnership interest)
|
1,000
|
|
|
—
|
|
||
|
Milestone Partners IV, LP (limited partnership interest)
|
869
|
|
|
1,414
|
|
||
|
Total Military Management, Inc.
|
857
|
|
|
—
|
|
||
|
2Checkout, Inc.
|
850
|
|
|
2,850
|
|
||
|
Genoa Healthcare Holdings, LLC
|
833
|
|
|
1,000
|
|
||
|
HealthDrive Corporation
|
734
|
|
|
734
|
|
||
|
Garretson Firm Resolution Group, Inc.
|
663
|
|
|
—
|
|
||
|
Bunker Hill Capital II (QP), LP (limited partnership interest)
|
632
|
|
|
786
|
|
||
|
ACON Equity Partners III, LP (limited partnership interest)
|
587
|
|
|
671
|
|
||
|
Riverlake Equity Partners II, LP (limited partnership interest)
|
564
|
|
|
638
|
|
||
|
American Cadastre, LLC
|
530
|
|
|
—
|
|
||
|
Riverside Fund IV, LP (limited partnership interest)
|
322
|
|
|
287
|
|
||
|
RCP Direct, LP (limited partnership interest)
|
260
|
|
|
524
|
|
||
|
TransTrade Operators, Inc.
|
255
|
|
|
—
|
|
||
|
Baird Capital Partners V, LP (limited partnership interest)
|
174
|
|
|
351
|
|
||
|
ISG Services, LLC
|
—
|
|
|
6,000
|
|
||
|
HealthEdge Software, Inc.
|
—
|
|
|
5,000
|
|
||
|
Reliance Communications, LLC
|
—
|
|
|
2,750
|
|
||
|
Mansell Group, Inc.
|
—
|
|
|
2,000
|
|
||
|
Physicians Pharmacy Alliance, Inc.
|
—
|
|
|
2,000
|
|
||
|
Miche Bag, LLC
|
—
|
|
|
1,500
|
|
||
|
BMC Acquisition, Inc.
|
—
|
|
|
1,250
|
|
||
|
Total
|
$
|
212,332
|
|
|
$
|
149,474
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
Debt Outstanding as of
September 30, 2013
|
|
Debt Outstanding as of
June 30, 2014 |
|
Weighted average debt outstanding for the nine months ended
June 30, 2014 |
|
Maximum debt outstanding
for the nine months ended June 30, 2014 |
||||||||
|
SBA debentures payable
|
$
|
181,750
|
|
|
$
|
225,000
|
|
|
$
|
210,594
|
|
|
$
|
225,000
|
|
|
Wells Fargo facility
|
20,000
|
|
|
—
|
|
|
23,575
|
|
|
55,072
|
|
||||
|
ING facility
|
168,000
|
|
|
483,250
|
|
|
398,953
|
|
|
548,250
|
|
||||
|
Sumitomo facility
|
—
|
|
|
51,931
|
|
|
58,760
|
|
|
83,500
|
|
||||
|
Convertible Notes
|
115,000
|
|
|
115,000
|
|
|
115,000
|
|
|
115,000
|
|
||||
|
2024 Notes
|
75,000
|
|
|
75,000
|
|
|
75,000
|
|
|
75,000
|
|
||||
|
2028 Notes
|
86,250
|
|
|
86,250
|
|
|
86,250
|
|
|
86,250
|
|
||||
|
2019 Notes
|
—
|
|
|
250,000
|
|
|
113,553
|
|
|
250,000
|
|
||||
|
Secured borrowings
|
—
|
|
|
45,750
|
|
|
21,045
|
|
|
47,750
|
|
||||
|
Total debt
|
$
|
646,000
|
|
|
$
|
1,332,181
|
|
|
$
|
1,102,730
|
|
|
$
|
1,385,877
|
|
|
|
Payments due by period as of June 30, 2014
|
||||||||||||||||||
|
|
Total
|
|
< 1 year
|
|
1-3 years
|
|
3-5 years
|
|
> 5 years
|
||||||||||
|
SBA debentures payable
|
$
|
225,000
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
225,000
|
|
|
Interest due on SBA debentures
|
68,788
|
|
|
8,744
|
|
|
17,749
|
|
|
17,725
|
|
|
24,570
|
|
|||||
|
ING facility
|
483,250
|
|
|
—
|
|
|
—
|
|
|
483,250
|
|
|
—
|
|
|||||
|
Interest due on ING facility
|
48,279
|
|
|
11,779
|
|
|
23,558
|
|
|
12,942
|
|
|
—
|
|
|||||
|
Sumitomo facility
|
51,931
|
|
|
—
|
|
|
—
|
|
|
51,931
|
|
|
—
|
|
|||||
|
Interest due on Sumitomo facility
|
5,266
|
|
|
1,249
|
|
|
2,498
|
|
|
1,519
|
|
|
—
|
|
|||||
|
Convertible Notes
|
115,000
|
|
|
—
|
|
|
115,000
|
|
|
—
|
|
|
—
|
|
|||||
|
Interest due on Convertible Notes
|
10,855
|
|
|
6,181
|
|
|
4,674
|
|
|
—
|
|
|
—
|
|
|||||
|
Secured Borrowings
|
45,750
|
|
|
—
|
|
|
—
|
|
|
45,750
|
|
|
—
|
|
|||||
|
Interest due on secured borrowings
|
8,576
|
|
|
2,205
|
|
|
4,410
|
|
|
1,961
|
|
|
—
|
|
|||||
|
2024 Notes
|
75,000
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
75,000
|
|
|||||
|
Interest due on 2024 Notes
|
45,571
|
|
|
4,406
|
|
|
8,813
|
|
|
8,813
|
|
|
23,539
|
|
|||||
|
2028 Notes
|
86,250
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
86,250
|
|
|||||
|
Interest due on 2028 Notes
|
73,134
|
|
|
5,283
|
|
|
10,566
|
|
|
10,566
|
|
|
46,719
|
|
|||||
|
2019 Notes
|
250,000
|
|
|
—
|
|
|
—
|
|
|
250,000
|
|
|
—
|
|
|||||
|
Interest due on 2019 Notes
|
56,931
|
|
|
12,188
|
|
|
24,375
|
|
|
20,368
|
|
|
—
|
|
|||||
|
Total
|
$
|
1,649,581
|
|
|
$
|
52,035
|
|
|
$
|
211,643
|
|
|
$
|
904,825
|
|
|
$
|
481,078
|
|
|
•
|
$0.0917 per share, payable on September 30, 2014 to stockholders of record on September 15, 2014;
|
|
•
|
$0.0917 per share, payable on October 31, 2014 to stockholders of record on October 15, 2014; and
|
|
•
|
$0.0917 per share, payable on November 28, 2014 to stockholders of record on November 14, 2014.
|
|
|
June 30, 2014
|
|
September 30, 2013
|
|
||||||||||
|
|
Fair Value
|
|
% of Floating
Rate Portfolio
|
|
Fair Value
|
|
% of Floating
Rate Portfolio
|
|
||||||
|
Under 1%
|
$
|
135,737
|
|
|
7.54
|
%
|
|
$
|
115,659
|
|
|
9.57
|
%
|
|
|
1% to under 2%
|
1,589,516
|
|
|
88.35
|
|
|
1,007,366
|
|
|
83.35
|
|
|
||
|
2% to under 3%
|
50,883
|
|
|
2.83
|
|
|
48,649
|
|
|
4.03
|
|
|
||
|
3% and over
|
23,115
|
|
|
1.28
|
|
|
36,913
|
|
|
3.05
|
|
|
||
|
Total
|
$
|
1,799,251
|
|
|
100.00
|
%
|
|
$
|
1,208,587
|
|
|
100.00
|
%
|
|
|
Basis point increase( 1)
|
|
Interest
income
|
|
Interest
expense
|
|
Net increase
(decrease)
|
||||||
|
500
|
|
$
|
70,600
|
|
|
$
|
(28,900
|
)
|
|
$
|
41,700
|
|
|
400
|
|
52,500
|
|
|
(23,100
|
)
|
|
29,400
|
|
|||
|
300
|
|
34,400
|
|
|
(17,200
|
)
|
|
17,200
|
|
|||
|
200
|
|
16,500
|
|
|
(11,400
|
)
|
|
5,100
|
|
|||
|
100
|
|
1,700
|
|
|
(5,600
|
)
|
|
(3,900
|
)
|
|||
|
(1)
|
A decline in interest rates would not have a material impact on our Consolidated Financial Statements.
|
|
|
June 30, 2014
|
|
September 30, 2013
|
||||||||||||
|
|
Interest Bearing
Cash and Investments
|
|
Borrowings
|
|
Interest Bearing
Cash and Investments
|
|
Borrowings
|
||||||||
|
Money market rate
|
$
|
74,661
|
|
|
$
|
—
|
|
|
$
|
147,359
|
|
|
$
|
—
|
|
|
Prime rate
|
1,448
|
|
|
—
|
|
|
2,886
|
|
|
—
|
|
||||
|
LIBOR
|
|
|
|
|
|
|
|
||||||||
|
1-month
|
61,662
|
|
|
535,181
|
|
|
57,604
|
|
|
188,000
|
|
||||
|
3-month
|
1,751,262
|
|
|
45,750
|
|
|
1,143,068
|
|
|
—
|
|
||||
|
Fixed rate
|
692,175
|
|
|
751,250
|
|
|
582,340
|
|
|
458,000
|
|
||||
|
Total
|
$
|
2,581,208
|
|
|
$
|
1,332,181
|
|
|
$
|
1,933,257
|
|
|
$
|
646,000
|
|
|
|
|
|
|
Exhibit
Number
|
|
Description of Exhibit
|
|
|
|
|
|
31.1*
|
|
Certification of Chief Executive Officer Pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934.
|
|
|
|
|
|
31.2*
|
|
Certification of Chief Financial Officer Pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934.
|
|
|
|
|
|
32.1*
|
|
Certification of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350).
|
|
|
|
|
|
32.2*
|
|
Certification of Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350).
|
|
|
|
|
|
|
FIFTH STREET FINANCE CORP.
|
|
|
|
|
|
|
Date: August 7, 2014
|
By:
|
/s/ Leonard M. Tannenbaum
|
|
|
|
Leonard M. Tannenbaum
|
|
|
|
Chairman and Chief Executive Officer
|
|
|
|
|
|
Date: August 7, 2014
|
By:
|
/s/ Richard A. Petrocelli
|
|
|
|
Richard A. Petrocelli
|
|
|
|
Chief Financial Officer
|
|
Exhibit
Number
|
|
Description of Exhibit
|
|
|
|
|
|
31.1*
|
|
Certification of Chief Executive Officer Pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934.
|
|
|
|
|
|
31.2*
|
|
Certification of Chief Financial Officer Pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934.
|
|
|
|
|
|
32.1*
|
|
Certification of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350).
|
|
|
|
|
|
32.2*
|
|
Certification of Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350).
|
No information found
* THE VALUE IS THE MARKET VALUE AS OF THE LAST DAY OF THE QUARTER FOR WHICH THE 13F WAS FILED.
| FUND | NUMBER OF SHARES | VALUE ($) | PUT OR CALL |
|---|
| DIRECTORS | AGE | BIO | OTHER DIRECTOR MEMBERSHIPS |
|---|
No information found
No Customers Found
No Suppliers Found
Price
Yield
| Owner | Position | Direct Shares | Indirect Shares |
|---|