XML 39 R26.htm IDEA: XBRL DOCUMENT v3.23.1

Investments (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Investments [Abstract]

Schedule of Investments

At March 31, 2023, the Company's investments consisted of the following:

Investment Cost and Fair Value by Type

			Cost						Fair Value
First lien			$	1,862,802					$	1,798,746
Second lien			616,660						562,413
Subordinated			87,726						78,282
Equity and other			735,426						830,885
Total investments			$	3,302,614					$	3,270,326

Investment Cost and Fair Value by Industry

			Cost						Fair Value
Software			$	951,994					$	933,923
Business Services			639,640						577,406
Healthcare			582,366						558,625
Investment Funds (includes investments in joint ventures)			252,400						252,400
Education			202,706						243,339
Consumer Services			152,247						150,766
Net Lease			96,041						120,623
Distribution & Logistics			111,266						103,157
Financial Services			98,346						99,197
Energy			56,820						62,876
Information Technology			58,654						58,865
Specialty Chemicals & Materials			25,354						40,795
Packaging			43,177						40,731
Consumer Products			20,833						19,976
Business Products			10,770						7,647
Total investments			$	3,302,614					$	3,270,326

At December 31, 2022, the Company’s investments consisted of the following:

Investment Cost and Fair Value by Type

			Cost						Fair Value
First lien			$	1,816,091					$	1,753,967
Second lien			632,990						561,207
Subordinated			85,774						76,659
Equity and other			725,112						829,414
Total investments			$	3,259,967					$	3,221,247

Investment Cost and Fair Value by Industry

			Cost						Fair Value
Software			$	916,259					$	897,008
Business Services			661,079						592,868
Healthcare			586,311						548,383
Investment Funds (includes investments in joint ventures)			252,400						252,400
Education			200,117						239,301
Consumer Services			126,392						123,880
Net Lease			96,041						120,986
Distribution & Logistics			111,096						102,410
Financial Services			96,021						95,839
Energy			55,507						61,564
Specialty Chemicals & Materials			25,363						60,268
Information Technology			58,638						58,165
Packaging			43,124						40,547
Consumer Products			20,850						20,624
Business Products			10,769						7,004
Total investments			$	3,259,967					$	3,221,247

Schedule of Summarized Financial Information for Nonconsolidated Entities

Below is a summary of SLP III's portfolio, along with a listing of the individual investments in SLP III's portfolio as of March 31, 2023 and December 31, 2022:

						March 31, 2023						December 31, 2022
First lien investments (1)						$	694,046					$	690,017
Weighted average interest rate on first lien investments (2)						9.09		%				8.51		%
Number of portfolio companies in SLP III						86						83
Largest portfolio company investment (1)						$	18,149					$	18,197
Total of five largest portfolio company investments (1)						$	85,727					$	85,948

(1)Reflects principal amount or par value of investment.

(2)Computed as the all in interest rate in effect on accruing investments divided by the total principal amount of investments.

The following table is a listing of the individual investments in SLP III's portfolio as of March 31, 2023:

Portfolio Company and Type of Investment						Industry						Reference						Spread						Interest Rate (1)						Maturity Date						Principal Amount or Par Value						Cost						Fair Value (2)
Funded Investments - First lien
ADMI Corp. (aka Aspen Dental)						Healthcare						L(M)						3.75%						8.59%						12/2027						$	2,394					$	2,385					$	2,228
Advisor Group Holdings, Inc.						Financial Services						L(M)						4.50%						9.34%						07/2026						9,675						9,649						9,551
AG Parent Holdings, LLC						Healthcare						L(M)						5.00%						9.84%						07/2026						12,094						12,062						11,747
Artera Services, LLC						Distribution & Logistics						L(Q)						3.50%						8.66%						03/2025						6,821						6,792						5,809
Aretec Group, Inc. (fka RCS Capital Corporation)						Financial Services						SOFR(Q)						4.50%						9.41%						03/2030						4,936						4,838						4,838
AssuredPartners, Inc.						Insurance Services						SOFR(M)						4.25%						9.06%						02/2027						1,990						1,925						1,988
Aston FinCo S.a.r.l. / Aston US Finco, LLC						Software						L(M)						4.25%						9.09%						10/2026						5,820						5,788						5,005
athenahealth Group Inc.						Healthcare						SOFR(M)						3.50%						8.26%						02/2029						6,895						6,636						6,429
BCPE Empire Holdings, Inc.						Distribution & Logistics						L(M)						4.00%						8.84%						06/2026						4,247						4,226						4,177
BCPE Empire Holdings, Inc.						Distribution & Logistics						SOFR(M)						4.63%						9.53%						06/2026						3,249						3,154						3,219
Bella Holding Company, LLC						Healthcare						SOFR(M)						3.75%						8.66%						05/2028						2,232						2,215						2,162
Bluefin Holding, LLC						Software						L(Q)						5.75%						10.91%						09/2026						9,675						9,597						9,503
Bluefin Holding, LLC						Software						L(Q)						5.75%						10.91%						09/2026						2,556						2,526						2,511
Bracket Intermediate Holding Corp.						Healthcare						L(Q)						4.25%						9.04%						09/2025						14,325						14,297						14,137
Brave Parent Holdings, Inc.						Software						L(M)						4.00%						8.84%						04/2025						4,254						4,249						4,173
Brown Group Holding, LLC						Distribution & Logistics						SOFR(Q)						3.75%						8.46%						07/2029						7,027						6,863						7,040
Cardinal Parent, Inc.						Software						L(Q)						4.50%						9.66%						11/2027						9,897						9,693						9,228
CE Intermediate I, LLC						Software						L(Q)						4.00%						8.86%						11/2028						10,893						10,829						10,430
CentralSquare Technologies, LLC						Software						L(Q)						3.75%						8.91%						08/2025						14,362						14,349						12,668
CHA Holdings, Inc.						Business Services						L(Q)						4.50%						9.66%						04/2025						954						954						954
CommerceHub, Inc.						Software						SOFR(S)						4.00%						8.78%						12/2027						5,702						5,681						5,341
Confluent Health, LLC						Healthcare						L(M)						4.00%						8.84%						11/2028						14,562						14,498						11,904
Confluent Medical Technologies, Inc.						Healthcare						SOFR(Q)						3.75%						8.65%						02/2029						6,930						6,900						6,722
Convey Health Solutions, Inc.						Healthcare						SOFR(Q)						5.25%						10.25%						09/2026						12,935						12,588						12,935
Cornerstone OnDemand, Inc.						Software						L(M)						3.75%						8.59%						10/2028						4,500						4,481						4,168
Covenant Surgical Partners, Inc.						Healthcare						SOFR(S)						4.00%						8.82%						07/2026						2,000						1,986						1,698
Covenant Surgical Partners, Inc.						Healthcare						SOFR(S)						4.00%						8.82%						07/2026						9,656						9,607						8,195
CRCI Longhorn Holdings, Inc.						Business Services						L(M)						3.50%						8.31%						08/2025						14,325						14,298						14,030
CVET Midco 2, L.P.						Software						SOFR(Q)						5.00%						9.90%						10/2029						6,965						6,566						6,547
DG Investment Intermediate Holdings 2, Inc.						Business Services						SOFR(M)						3.75%						8.56%						03/2028						7,369						7,346						7,185
Dealer Tire Financial, LLC						Distribution & Logistics						SOFR(M)						4.50%						9.31%						12/2027						9,701						9,688						9,655
Discovery Purchaser Corporation						Specialty Chemicals & Materials						SOFR(Q)						4.38%						8.96%						10/2029						7,082						6,542						6,707
Dispatch Acquisition Holdings, LLC						Industrial Services						SOFR(Q)						4.25%						9.30%						03/2028						15,567						15,173						14,107
Enverus Holdings, Inc. (fka Drilling Info Holdings, Inc.)						Business Services						L(M)						4.25%						9.09%						07/2025						18,149						18,115						17,423
Eisner Advisory Group LLC						Financial Services						SOFR(M)						5.25%						10.17%						07/2028						2,207						2,120						2,209
EAB Global, Inc.						Education						L(M)						3.50%						8.34%						08/2028						3,204						3,191						3,133
Energize Holdco LLC						Business Services						L(M)						3.75%						8.59%						12/2028						12,456						12,404						12,114
eResearchTechnology, Inc.						Healthcare						L(M)						4.50%						9.34%						02/2027						7,252						7,230						6,841
EyeCare Partners, LLC						Healthcare						L(M)						3.75%						8.59%						02/2027						14,573						14,562						12,050
Foundational Education Group, Inc.						Education						SOFR(Q)						3.75%						8.91%						08/2028						9,674						9,569						9,132
Greenway Health, LLC (fka Vitera Healthcare Solutions, LLC)						Healthcare						L(S)						3.75%						8.96%						02/2024						14,181						14,183						10,494
Groundworks, LLC						Consumer Services						SOFR(M)						6.50%						11.36%						03/2030						1,272						1,234						1,234
Heartland Dental, LLC						Healthcare						L(M)						3.75%						8.59%						04/2025						18,113						18,082						16,973
Help/Systems Holdings, Inc.						Software						SOFR(Q)						4.00%						8.78%						11/2026						18,022						17,914						16,125
Higginbotham Insurance Agency, Inc.						Business Services						L(M)						5.25%						10.09%						11/2026						9,056						8,999						9,002

Portfolio Company and Type of Investment						Industry						Reference						Spread						Interest Rate (1)						Maturity Date						Principal Amount or Par Value						Cost						Fair Value (2)
HighTower Holding, LLC						Financial Services						L(Q)						4.00%						8.82%						04/2028						$	4,766					$	4,729					$	4,516
Houghton Mifflin Harcourt Company						Education						SOFR(M)						5.25%						10.16%						04/2029						6,706						6,470						6,029
Idera, Inc.						Software						L(Q)						3.75%						8.51%						03/2028						15,763						15,752						15,073
Kestra Advisor Services Holdings A, Inc.						Financial Services						SOFR(Q)						4.25%						9.25%						06/2026						11,904						11,861						11,695
LI Group Holdings, Inc.						Software						L(M)						3.75%						8.59%						03/2028						4,562						4,553						4,545
LSCS Holdings, Inc.						Healthcare						L(M)						4.50%						9.34%						12/2028						7,548						7,516						7,246
Mamba Purchaser, Inc.						Healthcare						L(M)						3.50%						8.34%						10/2028						1,601						1,597						1,583
Maverick Bidco Inc.						Software						L(Q)						3.75%						8.58%						05/2028						3,950						3,935						3,769
Maverick Bidco Inc.						Software						SOFR(M)						4.25%						9.17%						05/2028						2,500						2,375						2,375
Maverick Bidco Inc.						Software						SOFR(Q)						5.00%						9.79%						05/2028						2,000						1,908						1,908
Mavis Tire Express Services Topco Corp.						Retail						SOFR(M)						4.00%						8.92%						05/2028						4,163						4,147						4,092
MED ParentCo, LP						Healthcare						L(M)						4.25%						9.09%						08/2026						12,556						12,492						11,049
Mercury Borrower, Inc.						Business Services						L(M)						3.50%						8.38%						08/2028						4,168						4,150						4,059
MH Sub I, LLC (Micro Holding Corp.)						Software						L(M)						3.75%						8.59%						09/2024						10,667						10,652						10,513
Mitnick Corporate Purchaser, Inc.						Software						SOFR(Q)						4.75%						9.53%						05/2029						4,643						4,622						4,385
National Intergovernmental Purchasing Alliance Company						Business Services						SOFR(Q)						3.50%						8.40%						05/2025						2,420						2,407						2,394
Netsmart, Inc.						Healthcare						L(M)						4.00%						8.84%						10/2027						3,930						3,930						3,887
Nielsen Consumer Inc.						Business Services						SOFR(M)						6.25%						11.06%						03/2028						4,897						4,359						4,322
Nielsen Consumer Inc.						Business Services						SOFR(M)						6.25%						11.06%						03/2028						10,103						8,992						8,916
Outcomes Group Holdings, Inc.						Healthcare						L(M)						3.25%						8.09%						10/2025						3,322						3,319						3,241
Pearls (Netherlands) Bidco B.V.						Specialty Chemicals & Materials						SOFR(Q)						3.75%						8.43%						02/2029						1,723						1,719						1,693
Peraton Corp.						Federal Services						L(M)						3.75%						8.59%						02/2028						7,216						7,189						7,131
PetVet Care Centers, LLC (fka Pearl Intermediate Parent LLC)						Consumer Services						L(M)						3.50%						8.34%						02/2025						4,561						4,559						4,432
Physician Partners, LLC						Healthcare						SOFR(Q)						4.00%						9.05%						12/2028						4,263						4,226						4,014
Planview Parent, Inc.						Software						L(Q)						4.00%						9.16%						12/2027						10,804						10,580						10,273
Premise Health Holding Corp.						Healthcare						L(Q)						3.75%						8.91%						07/2025						7,386						7,372						7,091
Project Ruby Ultimate Parent Corp.						Healthcare						L(M)						3.25%						8.09%						03/2028						4,341						4,324						4,196
Project Ruby Ultimate Parent Corp.						Healthcare						SOFR(M)						5.75%						10.56%						03/2028						4,975						4,837						5,058
RealPage, Inc.						Software						L(M)						3.00%						7.84%						04/2028						10,134						10,115						9,852
Renaissance Holding Corp.						Education						SOFR(M)						4.75%						9.58%						04/2030						6,629						6,430						6,442
RLG Holdings, LLC						Packaging						L(M)						4.00%						8.84%						07/2028						5,771						5,748						5,597
Sierra Enterprises, LLC						Food & Beverage						SOFR(Q)						6.75%						11.43%						05/2027						2,424						2,423						1,687
Snap One Holdings Corp.						Distribution & Logistics						L(Q)						4.50%						9.66%						12/2028						6,606						6,550						6,077
Sovos Brands Intermediate, Inc.						Food & Beverage						L(Q)						3.50%						8.33%						06/2028						7,365						7,350						7,243
Spring Education Group, Inc. (fka SSH Group Holdings, Inc.)						Education						SOFR(Q)						4.00%						8.90%						07/2025						11,902						11,891						11,837
Storable, Inc.						Software						SOFR(M)						3.50%						8.30%						04/2028						3,814						3,807						3,693
Symplr Software, Inc.						Healthcare						SOFR(Q)						4.50%						9.28%						12/2027						15,680						15,575						14,034
Syndigo LLC						Software						L(M)						4.50%						9.28%						12/2027						14,700						14,621						13,902
Therapy Brands Holdings LLC						Software						L(M)						4.00%						8.78%						05/2028						4,089						4,072						3,843
Thermostat Purchaser III, Inc.						Business Services						L(Q)						4.50%						9.45%						08/2028						5,988						5,963						5,748
USI, Inc. (fka Compass Investors Inc.)						Insurance Services						SOFR(Q)						3.75%						8.65%						11/2029						5,473						5,367						5,466
Valcour Packaging, LLC						Packaging						L(S)						3.75%						7.98%						10/2028						4,493						4,481						3,737
VT Topco, Inc.						Business Services						L(M)						3.75%						8.59%						08/2025						25						25						24
VT Topco, Inc.						Business Services						L(M)						3.50%						8.34%						08/2025						2,722						2,722						2,691
VT Topco, Inc.						Business Services						L(M)						3.75%						8.59%						08/2025						866						864						857
WatchGuard Technologies, Inc.						Software						SOFR(S)						5.25%						10.11%						07/2029						5,277						4,953						5,013
Waystar Technologies, Inc.						Healthcare						L(M)						4.00%						8.84%						10/2026						4,014						4,008						4,003
Wrench Group LLC						Consumer Services						L(Q)						4.00%						9.16%						04/2026						7,803						7,790						7,677
Wrench Group LLC						Consumer Services						SOFR(Q)						4.75%						9.54%						04/2026						5,500						5,390						5,473

Portfolio Company and Type of Investment						Industry						Reference						Spread						Interest Rate (1)						Maturity Date						Principal Amount or Par Value						Cost						Fair Value (2)
YI, LLC						Healthcare						L(M)						4.00%						8.84%						11/2024						$	9,465					$	9,462					$	9,149
Zest Acquisition Corp.						Healthcare						SOFR(M)						5.50%						10.22%						02/2028						4,103						3,935						3,975
Total Funded Investments																																				$	692,030					$	684,098					$	651,226
Unfunded Investments - First lien
athenahealth Group Inc.						Healthcare						—						—						—						01/2024						$	847					$	(44)					$	(57)
Groundworks, LLC						Consumer Services						—						—						—						03/2025						232						(3)						(3)
Thermostat Purchaser III, Inc.						Business Services						—						—						—						08/2023						937						—						(37)
VT Topco, Inc.						Business Services						—						—						—						08/2023						—						—						—
Total Unfunded Investments																																				$	2,016					$	(47)					$	(97)
Total Investments																																				$	694,046					$	684,051					$	651,129

(1)All interest is payable in cash unless otherwise indicated. A majority of the variable rate debt investments bear interest at a rate that may be determined by reference to the LIBOR (L), the Prime Rate (P), Secured Overnight Financing Rate (SOFR), and the alternative base rate (Base). For each investment, the current interest rate provided reflects the rate in effect as of March 31, 2023.

(2)Represents the fair value in accordance with Accounting Standards Codification Topic 820, Fair Value Measurement and Disclosures ("ASC 820"). The Company's board of directors does not determine the fair value of the investments held by SLP III.

The following table is a listing of the individual investments in SLP III's portfolio as of December 31, 2022:

Portfolio Company and Type of Investment						Industry						Reference						Spread						Interest Rate (1)						Maturity Date						Principal Amount or Par Value						Cost						Fair Value (2)
Funded Investments - First lien
ADMI Corp. (aka Aspen Dental)						Healthcare						L(M)						3.75%						8.13%						12/2027						$	2,400					$	2,391					$	2,194
Advisor Group Holdings, Inc.						Financial Services						L(M)						4.50%						8.88%						07/2026						9,700						9,672						9,512
AG Parent Holdings, LLC						Healthcare						L(M)						5.00%						9.38%						07/2026						12,125						12,092						11,769
Artera Services, LLC						Distribution & Logistics						L(Q)						3.50%						8.23%						03/2025						6,838						6,806						5,624
AssuredPartners, Inc.						Insurance Services						SOFR(M)						4.25%						8.57%						02/2027						1,995						1,926						1,985
Aston FinCo S.a.r.l. / Aston US Finco, LLC						Software						L(M)						4.25%						8.63%						10/2026						5,835						5,801						4,989
athenahealth Group Inc.						Healthcare						SOFR(M)						3.50%						7.82%						02/2029						6,912						6,644						6,258
BCPE Empire Holdings, Inc.						Distribution & Logistics						L(M)						4.00%						8.38%						06/2026						4,258						4,235						4,141
BCPE Empire Holdings, Inc.						Distribution & Logistics						SOFR(M)						4.63%						9.05%						06/2026						3,257						3,156						3,205
Bella Holding Company, LLC						Healthcare						L(M)						3.75%						8.13%						05/2028						2,238						2,220						2,123
Bluefin Holding, LLC						Software						L(Q)						5.75%						10.48%						09/2026						9,700						9,617						9,418
Bluefin Holding, LLC						Software						L(Q)						5.75%						10.48%						09/2026						2,562						2,530						2,488
Bracket Intermediate Holding Corp.						Healthcare						L(Q)						4.25%						7.99%						09/2025						14,362						14,333						13,689
Brave Parent Holdings, Inc.						Software						L(M)						4.00%						8.38%						04/2025						4,266						4,260						4,145
Brown Group Holding, LLC						Distribution & Logistics						SOFR(Q)						3.75%						7.91%						07/2029						7,045						6,875						7,033
Cano Health, LLC						Healthcare						SOFR(M)						4.00%						8.42%						11/2027						9,508						9,476						7,642
Cardinal Parent, Inc.						Software						L(Q)						4.50%						9.23%						11/2027						9,922						9,709						9,522
CE Intermediate I, LLC						Software						L(Q)						4.00%						8.59%						11/2028						10,920						10,854						10,388
CentralSquare Technologies, LLC						Software						L(Q)						3.75%						8.48%						08/2025						14,400						14,385						12,488
CHA Holdings, Inc.						Business Services						L(Q)						4.50%						9.23%						04/2025						957						957						945
CommerceHub, Inc.						Software						SOFR(S)						4.00%						8.78%						12/2027						5,717						5,695						5,274
Confluent Health, LLC						Healthcare						L(M)						4.00%						8.38%						11/2028						11,962						11,909						10,212
Confluent Health, LLC						Healthcare						L(M)						4.00%						8.38%						11/2028						1,499						1,492						1,280
Confluent Medical Technologies, Inc.						Healthcare						SOFR(Q)						3.75%						8.33%						02/2029						6,947						6,916						6,617
Convey Health Solutions, Inc.						Healthcare						SOFR(Q)						5.25%						9.93%						09/2026						12,967						12,598						12,578
Cornerstone OnDemand, Inc.						Software						L(M)						3.75%						8.13%						10/2028						4,511						4,492						4,049
Covenant Surgical Partners, Inc.						Healthcare						L(Q)						4.00%						8.41%						07/2026						2,000						1,984						1,710
Covenant Surgical Partners, Inc.						Healthcare						L(Q)						4.00%						8.41%						07/2026						9,680						9,628						8,276
CRCI Longhorn Holdings, Inc.						Business Services						L(M)						3.50%						7.77%						08/2025						14,363						14,333						13,597
CVET Midco 2, L.P.						Software						SOFR(Q)						5.00%						9.58%						10/2029						6,965						6,556						6,539
DG Investment Intermediate Holdings 2, Inc.						Business Services						SOFR(M)						3.75%						8.13%						03/2028						7,388						7,364						7,088
Dealer Tire Financial, LLC						Distribution & Logistics						SOFR(M)						4.50%						8.82%						12/2027						9,725						9,690						9,628
Discovery Purchaser Corporation						Specialty Chemicals & Materials						SOFR(Q)						4.38%						7.97%						10/2029						7,100						6,543						6,499
Dispatch Acquisition Holdings, LLC						Industrial Services						L(Q)						4.25%						8.98%						03/2028						15,606						15,196						13,265
Drilling Info Holdings, Inc.						Business Services						L(M)						4.25%						8.63%						07/2025						18,197						18,159						17,560
EAB Global, Inc.						Education						L(M)						3.50%						7.88%						08/2028						3,212						3,199						3,098
Energize Holdco LLC						Business Services						L(M)						3.75%						8.13%						12/2028						12,488						12,433						11,863
eResearchTechnology, Inc.						Healthcare						L(M)						4.50%						8.88%						02/2027						7,271						7,247						6,459
EyeCare Partners, LLC						Healthcare						L(Q)						3.75%						8.48%						02/2027						14,611						14,599						12,431
Foundational Education Group, Inc.						Education						SOFR(Q)						3.75%						8.59%						08/2028						9,405						9,326						8,840
Greenway Health, LLC						Healthcare						L(Q)						3.75%						8.48%						02/2024						14,219						14,221						9,971
Heartland Dental, LLC						Healthcare						L(M)						3.75%						8.13%						04/2025						18,160						18,126						16,847
Help/Systems Holdings, Inc.						Software						SOFR(Q)						4.00%						8.19%						11/2026						18,068						17,953						16,335
Higginbotham Insurance Agency, Inc.						Business Services						L(M)						5.25%						9.63%						11/2026						9,079						9,018						8,972
HighTower Holding, LLC						Financial Services						L(Q)						4.00%						8.28%						04/2028						4,778						4,739						4,402
Houghton Mifflin Harcourt Company						Education						SOFR(M)						5.25%						9.67%						04/2029						5,652						5,493						5,394
Idera, Inc.						Software						L(Q)						3.75%						7.50%						03/2028						15,803						15,792						14,944

Portfolio Company and Type of Investment						Industry						Reference						Spread						Interest Rate (1)						Maturity Date						Principal Amount or Par Value						Cost						Fair Value (2)
Kestra Advisor Services Holdings A, Inc.						Financial Services						L(Q)						4.25%						8.98%						06/2026						$	11,935					$	11,889					$	11,572
LI Group Holdings, Inc.						Software						L(M)						3.75%						8.13%						03/2028						4,573						4,565						4,493
LSCS Holdings, Inc.						Healthcare						L(M)						4.50%						8.88%						12/2028						7,567						7,534						7,236
Mamba Purchaser, Inc.						Healthcare						L(M)						3.50%						7.89%						10/2028						5,730						5,706						5,486
Maverick Bidco Inc.						Software						L(Q)						3.75%						8.16%						05/2028						3,960						3,945						3,763
Maverick Bidco Inc.						Software						SOFR(Q)						5.00%						9.28%						05/2028						2,000						1,905						1,901
Mavis Tire Express Services Topco Corp.						Retail						SOFR(M)						4.00%						8.50%						05/2028						4,174						4,157						3,993
MED ParentCo, LP						Healthcare						L(M)						4.25%						8.63%						08/2026						12,588						12,520						10,800
Mercury Borrower, Inc.						Business Services						L(Q)						3.50%						8.25%						08/2028						4,179						4,160						3,996
MH Sub I, LLC (Micro Holding Corp.)						Software						L(M)						3.75%						8.13%						09/2024						10,695						10,677						10,406
Mitnick Corporate Purchaser, Inc.						Software						SOFR(Q)						4.75%						8.94%						05/2029						4,655						4,633						4,373
National Intergovernmental Purchasing Alliance Company						Business Services						SOFR(Q)						3.50%						8.08%						05/2025						8,485						8,483						8,416
Navex Topco, Inc.						Software						L(M)						3.25%						7.64%						09/2025						10,887						10,841						10,811
Netsmart, Inc.						Healthcare						L(M)						4.00%						8.38%						10/2027						3,940						3,940						3,805
Outcomes Group Holdings, Inc.						Healthcare						L(Q)						3.25%						7.98%						10/2025						3,331						3,327						3,237
Pearls (Netherlands) Bidco B.V.						Specialty Chemicals & Materials						SOFR(Q)						3.75%						7.84%						02/2029						1,728						1,724						1,682
Peraton Corp.						Federal Services						L(M)						3.75%						8.13%						02/2028						7,235						7,206						7,082
PetVet Care Centers, LLC (fka Pearl Intermediate Parent LLC)						Consumer Services						L(M)						3.50%						7.88%						02/2025						4,573						4,570						4,321
Physician Partners, LLC						Healthcare						SOFR(M)						4.00%						8.42%						12/2028						5,627						5,575						5,383
Planview Parent, Inc.						Software						L(Q)						4.00%						8.73%						12/2027						10,832						10,598						10,109
Premise Health Holding Corp.						Healthcare						L(S)						3.75%						7.92%						07/2025						7,405						7,390						7,183
Project Ruby Ultimate Parent Corp.						Healthcare						L(M)						3.25%						7.63%						03/2028						4,352						4,335						4,124
Project Ruby Ultimate Parent Corp.						Healthcare						SOFR(M)						5.75%						10.07%						03/2028						4,988						4,844						4,838
RealPage, Inc.						Software						L(M)						3.00%						7.38%						04/2028						10,159						10,139						9,687
RLG Holdings, LLC						Packaging						L(M)						4.00%						8.38%						07/2028						5,785						5,761						5,462
Sierra Enterprises, LLC						Food & Beverage						L(Q)						4.00%						8.41%						11/2024						2,381						2,380						1,661
Snap One Holdings Corp.						Distribution & Logistics						L(M)						4.50%						8.88%						12/2028						6,622						6,564						6,093
Sovos Brands Intermediate, Inc.						Food & Beverage						L(Q)						3.50%						7.91%						06/2028						9,429						9,410						9,225
Spring Education Group, Inc. (fka SSH Group Holdings, Inc.)						Education						L(Q)						4.00%						8.73%						07/2025						11,933						11,921						11,692
Storable, Inc.						Software						SOFR(M)						3.50%						7.98%						04/2028						3,823						3,816						3,657
Symplr Software, Inc.						Healthcare						SOFR(Q)						4.50%						8.69%						12/2027						15,720						15,610						13,205
Syndigo LLC						Software						L(M)						4.50%						8.84%						12/2027						14,738						14,655						14,340
Therapy Brands Holdings LLC						Software						L(M)						4.00%						8.35%						05/2028						4,099						4,082						3,853
Thermostat Purchaser III, Inc.						Business Services						L(Q)						4.50%						9.23%						08/2028						6,003						5,978						5,800
USI, Inc. (fka Compass Investors Inc.)						Insurance Services						SOFR(Q)						3.75%						8.33%						11/2029						5,486						5,377						5,441
Valcour Packaging, LLC						Packaging						L(S)						3.75%						7.98%						10/2028						4,504						4,492						3,772
VT Topco, Inc.						Business Services						L(M)						3.75%						8.13%						08/2025						31						31						30
VT Topco, Inc.						Business Services						L(M)						3.50%						7.88%						08/2025						2,729						2,729						2,647
VT Topco, Inc.						Business Services						L(M)						3.75%						8.13%						08/2025						838						835						815
WatchGuard Technologies, Inc.						Software						SOFR(M)						5.25%						9.57%						07/2029						5,290						4,957						5,075
Waystar Technologies, Inc.						Healthcare						L(M)						4.00%						8.38%						10/2026						4,025						4,018						3,972
WP CityMD Bidco LLC						Healthcare						L(M)						3.25%						7.63%						12/2028						4,148						4,123						4,145
Wrench Group LLC						Consumer Services						L(Q)						4.00%						8.73%						04/2026						7,824						7,809						7,565
YI, LLC						Healthcare						L(M)						4.00%						8.38%						11/2024						9,490						9,487						9,174
Total Funded Investments																																				$	687,069					$	681,338					$	639,607

Portfolio Company and Type of Investment						Industry						Reference						Spread						Interest Rate (1)						Maturity Date						Principal Amount or Par Value						Cost						Fair Value (2)
Unfunded Investments - First lien
athenahealth Group Inc.						Healthcare						—						—						—						01/2024						$	847					$	(44)					$	(80)
Confluent Health, LLC						Healthcare						—						—						—						11/2023						1,139						(6)						(167)
Thermostat Purchaser III, Inc.						Business Services						—						—						—						08/2023						937						—						(32)
VT Topco, Inc.						Business Services						—						—						—						08/2023						25						—						(1)
Total Unfunded Investments																																				$	2,948					$	(50)					$	(280)
Total Investments																																				$	690,017					$	681,288					$	639,327

(1)All interest is payable in cash unless otherwise indicated. A majority of the variable rate debt investments bear interest at a rate that may be determined by reference to the LIBOR (L), the Prime Rate (P), Secured Overnight Financing Rate (SOFR) and the alternative base rate (Base). For each investment, the current interest rate provided reflects the rate in effect as of December 31, 2022.

(2)Represents the fair value in accordance with ASC 820. The Company's board of directors does not determine the fair value of the investments held by SLP III.

Below is certain summarized financial information for SLP III as of March 31, 2023 and December 31, 2022 and for the three months ended March 31, 2023 and March 31, 2022:

Selected Balance Sheet Information:			March 31, 2023						December 31, 2022
Investments at fair value (cost of $684,051 and $681,288)			$	651,129					$	639,327
Cash and other assets			19,548						17,149
Receivable from unsettled securities sold			8,816						—
Total assets			$	679,493					$	656,476
Credit facility			$	498,000					$	512,100
Deferred financing costs (net of accumulated amortization of $5,211 and $4,840, respectively)			(1,325)						(1,695)
Payable for unsettled securities purchased			28,024						—
Distribution payable			5,578						5,688
Other liabilities			7,203						6,492
Total liabilities			537,480						522,585
Members' capital			$	142,013					$	133,891
Total liabilities and members' capital			$	679,493					$	656,476

Selected Statement of Operations Information:									Three Months Ended
															March 31, 2023						March 31, 2022
Interest income															$	15,086					$	7,930
Other income															91						130
Total investment income															15,177						8,060
Interest and other financing expenses															8,406						2,751
Other expenses															243						219
Total expenses															8,649						2,970
Net investment income															6,528						5,090
Net realized losses on investments															(1,867)						(13)
Net change in unrealized appreciation (depreciation) of investments															9,039						(5,495)
Net increase (decrease) in members' capital															$	13,700					$	(418)

Below is a summary of SLP IV's consolidated portfolio, along with a listing of the individual investments in SLP IV's consolidated portfolio as of March 31, 2023 and December 31, 2022:

						March 31, 2023						December 31, 2022
First lien investments (1)						$	509,213					$	510,372
Weighted average interest rate on first lien investments (2)						9.13		%				8.54		%
Number of portfolio companies in SLP IV						75						74
Largest portfolio company investment (1)						$	21,924					$	21,982
Total of five largest portfolio company investments (1)						$	93,539					$	93,734

(1)Reflects principal amount or par value of investment.

(2)Computed as the all in interest rate in effect on accruing investments divided by the total principal amount of investments.

The following table is a listing of the individual investments in SLP IV's consolidated portfolio as of March 31, 2023:

Portfolio Company and Type of Investment						Industry						Reference						Spread						Interest Rate (1)						Maturity Date						Principal Amount or Par Value						Cost						Fair Value (2)
Funded Investments - First lien
ADG, LLC						Healthcare						L(Q)						4.75% + 0.50% PIK						10.56%						09/2023						$	16,343					$	16,329					$	15,205
ADMI Corp. (aka Aspen Dental)						Healthcare						L(M)						3.75%						8.59%						12/2027						1,847						1,840						1,719
Advisor Group Holdings, Inc.						Financial Services						L(M)						4.50%						9.34%						07/2026						11,548						11,487						11,399
Aretec Group, Inc. (fka RCS Capital Corporation)						Financial Services						SOFR(Q)						4.50%						9.41%						03/2030						3,808						3,732						3,732
Artera Services, LLC						Distribution & Logistics						L(Q)						3.50%						8.66%						03/2025						5,262						5,240						4,481
athenahealth Group Inc.						Healthcare						SOFR(M)						3.50%						8.26%						02/2029						2,391						2,381						2,230
Barracuda Parent, LLC						Software						SOFR(Q)						4.50%						9.18%						08/2029						4,988						4,848						4,798
Bayou Intermediate II, LLC						Healthcare						L(Q)						4.50%						9.30%						08/2028						9,008						8,962						8,648
Bella Holding Company, LLC						Healthcare						SOFR(M)						3.75%						8.66%						05/2028						1,747						1,741						1,692
Bleriot US Bidco Inc.						Federal Services						L(Q)						4.00%						9.16%						10/2026						3,930						3,930						3,937
Bracket Intermediate Holding Corp.						Healthcare						L(Q)						4.25%						9.04%						09/2025						4,416						4,407						4,358
Brave Parent Holdings, Inc.						Software						L(M)						4.00%						8.84%						04/2025						2,339						2,336						2,294
Brown Group Holding, LLC						Distribution & Logistics						SOFR(Q)						3.75%						8.46%						07/2029						5,410						5,283						5,420
CE Intermediate I, LLC						Software						L(Q)						4.00%						8.86%						11/2028						8,157						8,108						7,810
CentralSquare Technologies, LLC						Software						L(Q)						3.75%						8.91%						08/2025						14,363						14,349						12,668
CHA Holdings, Inc.						Business Services						L(Q)						4.50%						9.66%						04/2025						1,979						1,975						1,979
CHA Holdings, Inc.						Business Services						L(Q)						4.50%						9.66%						04/2025						10,777						10,762						10,777
Confluent Health, LLC						Healthcare						L(M)						4.00%						8.84%						11/2028						9,752						9,709						7,972
Confluent Medical Technologies, Inc.						Healthcare						SOFR(Q)						3.75%						8.65%						02/2029						6,930						6,900						6,722
Convey Health Solutions, Inc.						Healthcare						SOFR(Q)						5.25%						10.25%						09/2026						4,975						4,841						4,975
Cornerstone OnDemand, Inc.						Software						L(M)						3.75%						8.59%						10/2028						3,214						3,201						2,977
CVET Midco 2, L.P.						Software						SOFR(Q)						5.00%						9.90%						10/2029						2,687						2,533						2,525
Dealer Tire Financial, LLC						Distribution & Logistics						SOFR(M)						4.50%						9.31%						12/2027						10,639						10,614						10,590
Discovery Purchaser Corporation						Specialty Chemicals & Materials						SOFR(Q)						4.38%						8.96%						10/2029						5,387						4,975						5,101
Dispatch Acquisition Holdings, LLC						Industrial Services						SOFR(Q)						4.25%						9.30%						03/2028						9,850						9,748						8,926
EAB Global, Inc.						Education						L(M)						3.50%						8.34%						08/2028						6,405						6,380						6,263
Eisner Advisory Group LLC						Financial Services						SOFR(M)						5.25%						10.17%						07/2028						1,702						1,635						1,704
Emerald 2 Limited						Business Services						L(Q)						3.25%						8.41%						07/2028						439						439						437
Energize Holdco LLC						Business Services						L(M)						3.75%						8.59%						12/2028						8,978						8,940						8,731
Enverus Holdings, Inc. (fka Drilling Info Holdings, Inc.)						Business Services						L(M)						4.25%						9.09%						07/2025						20,235						20,202						19,426
eResearchTechnology, Inc.						Healthcare						L(M)						4.50%						9.34%						02/2027						4,373						4,347						4,125
EyeCare Partners, LLC						Healthcare						L(M)						3.75%						8.59%						11/2028						9,900						9,879						8,087
Foundational Education Group, Inc.						Education						SOFR(Q)						3.75%						8.91%						08/2028						6,419						6,367						6,059
Geo Parent Corporation						Business Services						SOFR(S)						5.25%						10.17%						12/2025						9,684						9,490						9,443
Greenway Health, LLC (fka Vitera Healthcare Solutions, LLC)						Healthcare						L(S)						3.75%						8.96%						02/2024						20,674						20,659						15,299
Heartland Dental, LLC						Healthcare						L(M)						3.75%						8.59%						04/2025						3,526						3,520						3,304
Heartland Dental, LLC						Healthcare						L(M)						4.00%						8.84%						04/2025						6,190						6,172						5,854
Help/Systems Holdings, Inc.						Software						SOFR(Q)						4.00%						8.78%						11/2026						9,783						9,758						8,753
Houghton Mifflin Harcourt Company						Education						SOFR(M)						5.25%						10.16%						04/2029						4,851						4,680						4,361
Hunter Holdco 3 Limited						Healthcare						L(Q)						4.25%						9.41%						08/2028						3,949						3,917						3,885
Idera, Inc.						Software						L(Q)						3.75%						8.51%						03/2028						9,201						9,141						8,798
Kestra Advisor Services Holdings A, Inc.						Financial Services						SOFR(Q)						4.25%						9.25%						06/2026						5,416						5,377						5,321
LSCS Holdings, Inc.						Healthcare						L(M)						4.50%						9.34%						12/2028						8,648						8,613						8,302
Mamba Purchaser, Inc.						Healthcare						L(M)						3.50%						8.34%						10/2028						1,144						1,139						1,131
Mandolin Technology Intermediate Holdings, Inc.						Software						L(Q)						3.75%						8.58%						07/2028						9,875						9,836						9,110
Maverick Bidco Inc.						Software						SOFR(Q)						5.00%						9.79%						05/2028						2,000						1,908						1,908
Maverick Bidco Inc.						Software						L(Q)						3.75%						8.58%						05/2028						7,901						7,870						7,538

Portfolio Company and Type of Investment						Industry						Reference						Spread						Interest Rate (1)						Maturity Date						Principal Amount or Par Value						Cost						Fair Value (2)
Mavis Tire Express Services Topco Corp.						Retail						SOFR(M)						4.00%						8.92%						05/2028						$	8,326					$	8,295					$	8,185
Mercury Borrower, Inc.						Business Services						L(M)						3.50%						8.38%						08/2028						6,172						6,147						6,010
MH Sub I, LLC (Micro Holding Corp.)						Software						L(M)						3.75%						8.59%						09/2024						7,798						7,787						7,685
National Intergovernmental Purchasing Alliance Company						Business Services						SOFR(Q)						3.50%						8.40%						05/2025						376						375						372
Netsmart, Inc.						Healthcare						L(M)						4.00%						8.84%						10/2027						6,877						6,877						6,802
Nielsen Consumer Inc.						Business Services						SOFR(M)						6.25%						11.06%						03/2028						3,265						2,905						2,881
Nielsen Consumer Inc.						Business Services						SOFR(M)						6.25%						11.06%						03/2028						6,735						5,995						5,944
OEConnection LLC						Software						SOFR(M)						4.00%						8.91%						09/2026						4,070						4,047						4,006
Pearls (Netherlands) Bidco B.V.						Specialty Chemicals & Materials						SOFR(Q)						3.75%						8.43%						02/2029						1,329						1,326						1,306
PetVet Care Centers, LLC (fka Pearl Intermediate Parent LLC)						Consumer Services						L(M)						3.50%						8.34%						02/2025						7,955						7,943						7,731
Physician Partners, LLC						Healthcare						SOFR(Q)						4.00%						9.05%						12/2028						3,222						3,194						3,033
Premise Health Holding Corp.						Healthcare						L(Q)						3.75%						8.91%						07/2025						1,941						1,937						1,863
Project Boost Purchaser, LLC						Business Services						L(M)						3.50%						8.34%						05/2026						2,456						2,452						2,422
RealPage, Inc.						Software						L(M)						3.00%						7.84%						04/2028						3,619						3,609						3,519
Renaissance Holding Corp.						Education						SOFR(M)						4.75%						9.58%						04/2030						5,114						4,960						4,970
Sierra Enterprises, LLC						Food & Beverage						SOFR(Q)						6.75%						11.43%						05/2027						4,247						4,239						2,955
Snap One Holdings Corp.						Distribution & Logistics						L(Q)						4.50%						9.66%						12/2028						8,563						8,490						7,878
Sovos Brands Intermediate, Inc.						Food & Beverage						L(Q)						3.50%						8.33%						06/2028						6,474						6,462						6,367
STATS Intermediate Holdings, LLC						Business Services						SOFR(Q)						7.25%						12.02%						07/2026						2,289						2,203						2,197
Storable, Inc.						Software						SOFR(M)						3.50%						8.30%						04/2028						3,950						3,931						3,825
Symplr Software, Inc.						Healthcare						SOFR(Q)						4.50%						9.28%						12/2027						3,755						3,747						3,361
Syndigo LLC						Software						L(M)						4.50%						9.28%						12/2027						9,735						9,720						9,206
Therapy Brands Holdings LLC						Software						L(M)						4.00%						8.78%						05/2028						6,015						5,990						5,654
Thermostat Purchaser III, Inc.						Business Services						L(Q)						4.50%						9.45%						08/2028						4,277						4,260						4,106
USIC Holdings, Inc.						Business Services						L(M)						3.50%						8.34%						05/2028						3,791						3,779						3,684
Valcour Packaging, LLC						Packaging						L(S)						3.75%						7.98%						10/2028						3,268						3,260						2,718
VT Topco, Inc.						Business Services						L(M)						3.75%						8.59%						08/2025						247						245						244
VT Topco, Inc.						Business Services						L(M)						3.75%						8.59%						08/2025						8,663						8,637						8,569
WatchGuard Technologies, Inc.						Software						SOFR(S)						5.25%						10.11%						07/2029						4,070						3,821						3,867
Wrench Group LLC						Consumer Services						L(Q)						4.00%						9.16%						04/2026						9,444						9,400						9,291
YI, LLC						Healthcare						L(M)						4.00%						8.84%						11/2024						21,924						21,917						21,193
Zest Acquisition Corp.						Healthcare						SOFR(M)						5.50%						10.22%						02/2028						3,165						3,037						3,067
Zone Climate Services, Inc.						Business Services						SOFR(Q)						4.75%						9.54%						03/2028						9,899						9,732						9,901
Zone Climate Services, Inc.						Business Services						SOFR(Q)						4.75%						9.54%						03/2028						2,175						2,140						2,185
Total Funded Investments																																				$	508,246					$	503,359					$	477,771
Unfunded Investments - First lien
athenahealth Group Inc.						Healthcare																								01/2024						$	294					$	—					$	(20)
Thermostat Purchaser III, Inc.						Business Services																								08/2023						669						—						(27)
VT Topco, Inc.						Business Services																								08/2023						4						—						—
Total Unfunded Investments																																				967						—						(47)
Total Investments																																				$	509,213					$	503,359					$	477,724

(1)All interest is payable in cash unless otherwise indicated. A majority of the variable rate debt investments bear interest at a rate that may be determined by reference to the LIBOR (L), the Prime Rate (P), Secured Overnight Financing Rate (SOFR), and the alternative base rate (Base). For each investment, the current interest rate provided reflects the rate in effect as of March 31, 2023.

(2)Represents the fair value in accordance with ASC 820. The Company's board of directors does not determine the fair value of the investments held by SLP IV.

The following table is a listing of the individual investments in SLP IV's consolidated portfolio as of December 31, 2022:

Portfolio Company and Type of Investment						Industry						Reference						Spread						Interest Rate (1)						Maturity Date						Principal Amount or Par Value						Cost						Fair Value (2)
Funded Investments - First lien
ADG, LLC						Healthcare						L (M)						4.75% + 0.50%/PIK						9.69%						09/2023						$	16,335					$	16,315					$	15,674
ADMI Corp. (aka Aspen Dental)						Healthcare						L (M)						3.75%						8.13%						12/2027						1,852						1,844						1,693
Advisor Group Holdings, Inc.						Financial Services						L (M)						4.50%						8.88%						07/2026						11,577						11,513						11,353
Artera Services, LLC						Distribution & Logistics						L (Q)						3.50%						8.23%						03/2025						5,275						5,251						4,339
athenahealth Group Inc.						Healthcare						SOFR (M)						3.50%						7.82%						02/2029						2,397						2,387						2,171
Barracuda Parent, LLC						Software						SOFR (Q)						4.50%						8.59%						08/2029						5,000						4,856						4,822
Bayou Intermediate II, LLC						Healthcare						L (Q)						4.50%						8.96%						08/2028						8,607						8,571						8,305
Bella Holding Company, LLC						Healthcare						L (M)						3.75%						8.13%						05/2028						1,751						1,746						1,661
Bleriot US Bidco Inc.						Federal Services						L (Q)						4.00%						8.73%						10/2026						3,940						3,940						3,907
Bracket Intermediate Holding Corp.						Healthcare						L (Q)						4.25%						7.99%						09/2025						4,427						4,418						4,220
Brave Parent Holdings, Inc.						Software						L (M)						4.00%						8.38%						04/2025						2,345						2,342						2,278
Brown Group Holding, LLC						Distribution & Logistics						SOFR (Q)						3.75%						7.91%						07/2029						5,424						5,293						5,416
Cano Health, LLC						Healthcare						SOFR (M)						4.00%						8.42%						11/2027						7,478						7,473						6,011
CE Intermediate I, LLC						Software						L (Q)						4.00%						8.59%						11/2028						8,178						8,127						7,779
CentralSquare Technologies, LLC						Software						P (Q)						3.75%						8.48%						08/2025						14,400						14,385						12,488
Certara Holdco, Inc.						Healthcare						L (M)						3.50%						7.88%						08/2026						3,900						3,893						3,849
CHA Holdings, Inc.						Business Services						L (Q)						4.50%						9.23%						04/2025						1,984						1,979						1,960
CHA Holdings, Inc.						Business Services						L (Q)						4.50%						9.23%						04/2025						10,806						10,788						10,679
Confluent Health, LLC						Healthcare						L (M)						4.00%						8.68%						11/2028						999						991						853
Confluent Health, LLC						Healthcare						L (M)						4.00%						8.38%						11/2028						8,014						7,979						6,842
Confluent Medical Technologies, Inc.						Healthcare						SOFR (Q)						3.75%						8.33%						02/2029						6,948						6,916						6,617
Convey Health Solutions, Inc.						Healthcare						SOFR (Q)						5.25%						9.83%						09/2026						4,988						4,846						4,838
Cornerstone OnDemand, Inc.						Software						L (M)						3.75%						8.13%						10/2028						3,222						3,209						2,892
CVET Midco 2, L.P.						Software						SOFR (Q)						5.00%						9.58%						10/2029						2,687						2,529						2,522
Dealer Tire Financial, LLC						Distribution & Logistics						SOFR (M)						4.50%						8.82%						12/2027						10,666						10,640						10,559
Discovery Purchaser Corporation						Specialty Chemicals & Materials						SOFR (Q)						4.38%						7.97%						10/2029						5,400						4,976						4,943
Dispatch Acquisition Holdings, LLC						Industrial Services						L (Q)						4.25%						8.98%						03/2028						9,875						9,769						8,393
Drilling Info Holdings, Inc.						Business Services						L (M)						4.25%						8.63%						07/2025						20,288						20,251						19,578
EAB Global, Inc.						Education						L (M)						3.50%						7.88%						08/2028						6,422						6,395						6,193
Emerald 2 Limited						Business Services						L (Q)						3.25%						7.98%						07/2028						441						440						437
Energize Holdco LLC						Business Services						L (M)						3.75%						8.13%						12/2028						9,000						8,961						8,550
eResearchTechnology, Inc.						Healthcare						L (M)						4.50%						8.88%						02/2027						4,384						4,357						3,895
EyeCare Partners, LLC						Healthcare						L (Q)						3.75%						8.48%						11/2028						9,925						9,904						8,445
Foundational Education Group, Inc.						Education						SOFR (Q)						3.75%						8.59%						08/2028						6,435						6,381						6,048
Geo Parent Corporation						Business Services						SOFR (Q)						5.25%						9.44%						12/2025						9,709						9,499						9,470
Greenway Health, LLC						Healthcare						L (Q)						3.75%						8.48%						02/2024						20,729						20,710						14,536
Heartland Dental, LLC						Healthcare						L (M)						3.75%						8.13%						04/2025						3,535						3,529						3,280
Heartland Dental, LLC						Healthcare						L (M)						4.00%						8.39%						04/2025						6,206						6,186						5,785
Help/Systems Holdings, Inc.						Software						SOFR (Q)						4.00%						8.19%						11/2026						9,808						9,782						8,867
Houghton Mifflin Harcourt Company						Education						SOFR (M)						5.25%						9.67%						04/2029						4,037						3,926						3,854
Hunter Holdco 3 Limited						Healthcare						L (Q)						4.25%						8.98%						08/2028						3,949						3,916						3,886
Idera, Inc.						Software						L (Q)						3.75%						7.50%						03/2028						9,224						9,162						8,723
Kestra Advisor Services Holdings A, Inc.						Financial Services						L (Q)						4.25%						8.98%						06/2026						5,430						5,389						5,265
LSCS Holdings, Inc.						Healthcare						L (M)						4.50%						8.88%						12/2028						8,669						8,634						8,290
Mamba Purchaser, Inc.						Healthcare						L (M)						3.50%						7.89%						10/2028						4,092						4,075						3,919
Mandolin Technology Intermediate Holdings, Inc.						Software						L (Q)						3.75%						8.16%						07/2028						9,900						9,859						9,281
Maverick Bidco Inc.						Software						SOFR (Q)						5.00%						9.28%						05/2028						2,000						1,905						1,901
Maverick Bidco Inc.						Software						L (Q)						3.75%						8.16%						05/2028						7,921						7,889						7,527

Portfolio Company and Type of Investment						Industry						Reference						Spread						Interest Rate (1)						Maturity Date						Principal Amount or Par Value						Cost						Fair Value (2)
Mavis Tire Express Services Topco Corp.						Retail						SOFR (M)						4.00%						8.50%						05/2028						$	8,348					$	8,314					$	7,985
Mercury Borrower, Inc.						Business Services						L (Q)						3.50%						8.25%						08/2028						6,188						6,162						5,917
MH Sub I, LLC (Micro Holding Corp.)						Software						L (M)						3.75%						8.13%						09/2024						7,818						7,805						7,606
National Intergovernmental Purchasing Alliance Company						Business Services						SOFR (Q)						3.50%						8.08%						05/2025						1,319						1,320						1,308
Netsmart, Inc.						Healthcare						L (M)						4.00%						8.38%						10/2027						6,894						6,895						6,658
OEConnection LLC						Software						SOFR (M)						4.00%						8.42%						09/2026						4,081						4,056						3,899
Pearls (Netherlands) Bidco B.V.						Specialty Chemicals & Materials						SOFR (Q)						3.75%						7.84%						02/2029						1,333						1,330						1,298
PetVet Care Centers, LLC (fka Pearl Intermediate Parent LLC)						Consumer Services						L (M)						3.50%						7.88%						02/2025						7,975						7,962						7,537
Physician Partners, LLC						Healthcare						SOFR (M)						4.00%						8.42%						12/2028						4,252						4,214						4,068
Premise Health Holding Corp.						Healthcare						L (S)						3.75%						7.92%						07/2025						1,946						1,942						1,888
Project Boost Purchaser, LLC						Business Services						L (M)						3.50%						7.88%						05/2026						2,463						2,458						2,377
RealPage, Inc.						Software						L (M)						3.00%						7.38%						04/2028						3,628						3,617						3,460
RLG Holdings, LLC						Packaging						L (M)						4.00%						8.38%						07/2028						4,719						4,700						4,456
Sierra Enterprises, LLC						Food & Beverage						L (Q)						4.00%						8.41%						11/2024						4,172						4,164						2,910
Snap One Holdings Corp.						Distribution & Logistics						L (M)						4.50%						8.88%						12/2028						8,584						8,509						7,898
Sovos Brands Intermediate, Inc.						Food & Beverage						L (Q)						3.50%						7.91%						06/2028						8,290						8,273						8,110
STATS Intermediate Holdings, LLC						Business Services						SOFR (Q)						7.25%						11.52%						07/2026						2,294						2,204						2,202
Storable, Inc.						Software						SOFR (M)						3.50%						7.98%						04/2028						3,960						3,940						3,788
Symplr Software, Inc.						Healthcare						SOFR (Q)						4.50%						8.69%						12/2027						3,765						3,756						3,163
Syndigo LLC						Software						L (M)						4.50%						8.84%						12/2027						9,760						9,744						9,497
Therapy Brands Holdings LLC						Software						L (M)						4.00%						8.35%						05/2028						6,030						6,004						5,668
Thermostat Purchaser III, Inc.						Business Services						L (Q)						4.50%						9.23%						08/2028						4,288						4,270						4,143
USIC Holdings, Inc.						Business Services						L (M)						3.50%						7.88%						05/2028						3,801						3,788						3,638
Valcour Packaging, LLC						Packaging						L (S)						3.75%						7.98%						10/2028						3,276						3,268						2,744
Virtusa Corporation						Information Technology						SOFR (M)						3.75%						8.17%						02/2029						2,281						2,260						2,208
VT Topco, Inc.						Business Services						L (M)						3.75%						6.16%						08/2025						308						306						293
VT Topco, Inc.						Business Services						L (M)						3.75%						8.13%						08/2025						8,378						8,350						8,154
WatchGuard Technologies, Inc.						Software						SOFR (M)						5.25%						9.57%						07/2029						4,081						3,824						3,915
Wrench Group LLC						Consumer Services						L (Q)						4.00%						8.73%						04/2026						9,469						9,421						9,155
YI, LLC						Healthcare						L (M)						4.00%						8.38%						11/2024						21,982						21,975						21,251
Zone Climate Services, Inc.						Business Services						SOFR (S)						4.75%						8.62%						03/2028						9,950						9,773						9,791
Zone Climate Services, Inc.						Business Services						SOFR (S)						4.75%						8.64%						03/2028						2,187						2,149						2,152
Total Funded Investments																																				$	508,399					$	504,879					$	473,931
Unfunded Investments - First lien
athenahealth Group Inc.						Healthcare						—						—						—						01/2024						$	294					$	—					$	(28)
Confluent Health, LLC						Healthcare						—						—						—						11/2023						759						(4)						(111)
Thermostat Purchaser III, Inc.						Business Services						—						—						—						08/2023						669						—						(23)
VT Topco, Inc.						Business Services						—						—						—						08/2023						251						—						(7)
Total Unfunded Investments																																				$	1,973					$	(4)					$	(169)
Total Investments																																				$	510,372					$	504,875					$	473,762

(1)All interest is payable in cash unless otherwise indicated. A majority of the variable rate debt investments bear interest at a rate that may be determined by reference to the LIBOR (L), the Prime Rate (P), Secured Overnight Financing Rate (SOFR) and the alternative base rate (Base). For each investment, the current interest rate provided reflects the rate in effect as of December 31, 2022.

(2)Represents the fair value in accordance with ASC 820. The Company's board of directors does not determine the fair value of the investments held by SLP IV.

Below is certain summarized consolidated financial information for SLP IV as of March 31, 2023 and December 31, 2022 and for the three months ended March 31, 2023 and March 31, 2022:

Selected Consolidated Balance Sheet Information:			March 31, 2023						December 31, 2022
Investments at fair value (cost of $503,359 and $504,875, respectively)			$	477,724					$	473,762
Receivable from unsettled securities sold			7,525						—
Cash and other assets			14,645						12,853
Total assets			$	499,894					$	486,615
Credit facility			$	355,937					$	365,537
Deferred financing costs (net of accumulated amortization of $1,145 and $997, respectively)			(1,860)						(2,008)
Payable for unsettled securities purchased			4,558						—
Distribution payable			17,592						4,648
Other liabilities			6,051						5,410
Total liabilities			382,278						373,587
Members' capital			$	117,616					$	113,028
Total liabilities and members' capital			$	499,894					$	486,615

Selected Consolidated Statement of Operations Information:									Three Months Ended
															March 31, 2023						March 31, 2022
Interest income															$	11,258					$	5,936
Other income															116						103
Total investment income															11,374						6,039
Interest and other financing expenses															5,832						1,803
Other expenses															205						221
Total expenses															6,037						2,024
Net investment income															5,337						4,015
Net realized losses on investments															(1,669)						(2)
Net change in unrealized appreciation (depreciation) of investments															5,478						(3,710)
Net increase in members' capital															$	9,146					$	303

X

- References

No definition available.

+ Details

Name:	us-gaap-supplement_InvestmentCompanyNonconsolidatedSubsidiarySummarizedFinancialInformationTableTextBlock
Namespace Prefix:	us-gaap-supplement_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of data and information required in the supplementary schedule applicable to management investment companies listing holdings of unaffiliated investments.

+ References

No definition available.

+ Details

Name:	us-gaap_InvestmentHoldingsScheduleOfInvestmentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfInvestmentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration