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Investments (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Investments [Abstract]

Schedule of Investments

At December 31, 2024, the Company’s investments consisted of the following:

Investment Cost and Fair Value by Type

			Cost						Fair Value
First lien			$	1,970,251					$	1,956,608
Second lien			211,449						197,050
Subordinated			113,928						102,034
Structured Finance Obligations			3,232						3,232
Equity and other			803,064						832,100
Total investments			$	3,101,924					$	3,091,024

Investment Cost and Fair Value by Industry

			Cost						Fair Value
Software			$	857,673					$	848,086
Healthcare			513,429						501,850
Business Services			508,536						497,954
Investment Funds (includes investments in joint ventures)			275,632						275,632
Consumer Services			192,052						192,340
Education			205,283						187,620
Financial Services			120,505						125,750
Distribution & Logistics			119,947						120,493
Net Lease			81,370						114,794
Packaging			68,200						68,093
Energy			68,114						65,076
Food & Beverage			38,840						42,450
Business Products			22,185						22,387
Consumer Products			20,769						19,101
Specialty Chemicals & Materials			9,389						9,398
Total investments			$	3,101,924					$	3,091,024

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

Investment Cost and Fair Value by Type

			Cost						Fair Value
First lien			$	1,709,247					$	1,683,952
Second lien			472,930						424,513
Subordinated			100,236						90,948
Equity and other			755,795						811,909
Total investments			$	3,038,208					$	3,011,322

Investment Cost and Fair Value by Industry

			Cost						Fair Value
Software			$	815,065					$	809,401
Business Services			561,492						539,926
Healthcare			516,086						477,854
Investment Funds (includes investments in joint ventures)			252,400						252,400
Education			188,851						211,550
Consumer Services			192,796						192,501
Net Lease			95,782						118,407
Distribution & Logistics			118,212						110,721
Financial Services			104,330						105,138
Energy			61,108						65,170
Packaging			43,181						36,007
Specialty Chemicals & Materials			25,329						28,452
Business Products			22,630						22,628
Food & Beverage			20,370						22,055
Consumer Products			20,576						19,112
Total investments			$	3,038,208					$	3,011,322

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 December 31, 2024 and December 31, 2023:

						December 31, 2024						December 31, 2023
First lien investments (1)						$	727,619					$	657,208
Weighted average interest rate on first lien investments (2)						8.49		%				9.79		%
Number of portfolio companies in SLP III						90						87
Largest portfolio company investment (1)						$	17,697					$	17,883
Total of five largest portfolio company investments (1)						$	80,215					$	79,458

(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 December 31, 2024:

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						SOFR(M)						3.75%						8.22%						12/2027						$	2,352					$	2,345					$	2,318
AG Parent Holdings, LLC						Healthcare						SOFR(Q)						5.00%						9.78%						07/2026						7,218						7,208						6,821
AmSpec Parent, LLC						Energy						SOFR(Q)						4.25%						8.56%						12/2031						5,754						5,725						5,797
Ardonagh Midco 3 Limited						Financial Services						SOFR(Q)						3.75%						8.51%						02/2031						9,400						9,354						9,459
Ascensus Group Holdings, Inc.						Business Services						SOFR(M)						3.00%						7.36%						08/2028						2,787						2,778						2,815
AssuredPartners, Inc						Business Services						SOFR(M)						3.50%						7.86%						02/2031						1,955						1,953						1,962
Aston FinCo S.a r.l.						Software						SOFR(M)						4.25%						8.72%						10/2026						5,715						5,698						5,486
Asurion, LLC						Business Services						SOFR(M)						4.25%						8.71%						08/2028						13,134						13,041						13,167
athenahealth Group Inc.						Healthcare						SOFR(M)						3.25%						7.61%						02/2029						6,773						6,582						6,806
Bach Finance Limited						Education						SOFR(Q)						3.75%						8.26%						02/2031						2,123						2,118						2,143
Bayou Intermediate II, LLC						Healthcare						SOFR(Q)						4.50%						9.35%						08/2028						6,667						6,629						6,667
BCPE Empire Holdings, Inc.						Distribution & Logistics						SOFR(M)						3.50%						7.86%						12/2028						8,921						8,863						8,981
Bella Holding Company, LLC						Healthcare						SOFR(M)						3.75%						8.21%						05/2028						7,800						7,780						7,859
BIFM CA Buyer Inc.						Business Services						SOFR(M)						3.75%						8.11%						05/2028						3,580						3,541						3,616
Boxer Parent Company Inc.						Software						SOFR(Q)						3.75%						8.34%						07/2031						15,321						15,284						15,470
Bracket Intermediate Holding Corp.						Healthcare						SOFR(Q)						4.25%						8.58%						05/2028						14,111						13,805						14,256
Brown Group Holding, LLC						Distribution & Logistics						SOFR(Q)						2.50%						6.86%						07/2031						2,697						2,648						2,708
BW Holding, Inc.						Packaging						SOFR(Q)						4.00%						8.66%						12/2028						2,742						2,592						2,453
Cardinal Parent, Inc.						Software						SOFR(Q)						4.50%						8.98%						11/2027						9,720						9,586						9,321
CE Intermediate I, LLC						Software						SOFR(M)						3.50%						8.05%						11/2028						10,700						10,654						10,761
Chrysaor Bidco S.a r.l.						Information Services						SOFR(Q)						3.50%						8.12%						07/2031						2,131						2,131						2,151
Cloudera, Inc.						Software						SOFR(M)						3.75%						8.21%						10/2028						12,495						12,333						12,514
CommerceHub, Inc.						Software						SOFR(Q)						6.25%						10.90%						12/2027						3,920						3,596						3,920
CommerceHub, Inc.						Software						SOFR(Q)						4.00%						8.80%						12/2027						6,881						6,823						6,540
Confluent Health, LLC						Healthcare						SOFR(M)						4.00%						8.47%						11/2028						4,653						4,638						4,554
Confluent Medical Technologies, Inc.						Healthcare						SOFR(Q)						3.25%						7.85%						02/2029						6,808						6,786						6,842
ConnectWise, LLC						Software						SOFR(Q)						3.50%						8.09%						09/2028						7,959						7,940						8,022
Convey Health Solutions, Inc.						Healthcare						SOFR(Q)						1.00% + 4.25%/PIK						9.68%						07/2029						8,876						8,737						8,055
Cornerstone OnDemand, Inc.						Software						SOFR(M)						3.75%						8.22%						10/2028						2,560						2,552						2,257
CVET Midco 2, L.P.						Software						SOFR(Q)						5.00%						9.33%						10/2029						9,806						9,444						9,455
Dealer Tire Financial, LLC						Distribution & Logistics						SOFR(M)						3.50%						7.86%						07/2031						11,551						11,496						11,580
DG Investment Intermediate Holdings 2, Inc.						Business Services						SOFR(M)						3.75%						8.22%						03/2028						10,288						10,258						10,406
Discovery Purchaser Corporation						Specialty Chemicals & Materials						SOFR(Q)						4.38%						8.95%						10/2029						9,449						9,012						9,517
Dispatch Acquisition Holdings, LLC						Industrial Services						SOFR(Q)						4.25%						8.73%						03/2028						15,289						15,019						14,611
EAB Global, Inc.						Education						SOFR(M)						3.25%						7.61%						08/2028						2,816						2,798						2,831
Eagle Parent Corp.						Business Services						SOFR(Q)						4.25%						8.58%						04/2029						7,392						7,291						7,261
Eisner Advisory Group LLC						Financial Services						SOFR(M)						4.00%						8.36%						02/2031						8,632						8,571						8,745
eResearchTechnology, Inc.						Healthcare						SOFR(M)						4.00%						8.36%						02/2027						3,594						3,594						3,620
Flash Charm, Inc.						Software						SOFR(Q)						3.50%						8.07%						03/2028						16,508						16,496						16,226
FNZ Group Entities Limited						Financial Services						SOFR(Q)						5.00%						9.55%						11/2031						10,255						10,050						10,037
Foundational Education Group, Inc.						Education						SOFR(Q)						3.75%						8.60%						08/2028						14,209						14,104						13,925
Groundworks, LLC						Business Services						SOFR(M)						3.25%						7.65%						03/2031						259						257						260
Groundworks, LLC						Business Services						SOFR(M)						3.25%						7.65%						03/2031						8,787						8,738						8,846
Heartland Dental, LLC						Healthcare						SOFR(M)						4.50%						8.86%						04/2028						14,036						13,631						14,080
Help/Systems Holdings, Inc.						Software						SOFR(Q)						4.00%						8.69%						11/2026						17,697						17,638						15,640
Higginbotham Insurance Agency, Inc.						Business Services						SOFR(M)						4.50%						8.86%						11/2028						8,896						8,856						8,897
HighTower Holding, LLC						Financial Services						SOFR(Q)						3.50%						8.07%						04/2028						4,682						4,656						4,707

Portfolio Company and Type of Investment						Industry						Reference						Spread						Interest Rate (1)						Maturity Date						Principal Amount or Par Value						Cost						Fair Value (2)
Houghton Mifflin Harcourt Company						Education						SOFR(M)						5.25%						9.71%						04/2029						$	8,069					$	7,856					$	7,961
Inizio Group Limited						Healthcare						SOFR(Q)						4.25%						8.68%						08/2028						4,500						4,470						4,449
Kestra Advisor Services Holdings A, Inc.						Financial Services						SOFR(M)						3.00%						7.37%						03/2031						10,022						10,001						10,046
LI Group Holdings, Inc.						Software						SOFR(M)						3.50%						7.97%						03/2028						3,702						3,697						3,716
LSCS Holdings, Inc.						Healthcare						SOFR(M)						4.50%						8.97%						12/2028						11,973						11,883						12,070
Marcel Bidco LLC (Marcel Bidco GmbH)						Software						SOFR(M)						3.50%						8.07%						11/2030						2,823						2,785						2,855
Maverick Bidco Inc.						Software						SOFR(Q)						5.00%						9.69%						05/2028						1,965						1,901						1,968
Maverick Bidco Inc.						Software						SOFR(Q)						3.75%						8.49%						05/2028						8,855						8,828						8,869
Maverick Bidco Inc.						Software						SOFR(Q)						4.25%						9.10%						05/2028						2,463						2,374						2,466
Mavis Tire Express Services Topco, Corp.						Retail						SOFR(M)						3.50%						7.86%						05/2028						4,090						4,079						4,123
MED ParentCo, LP						Healthcare						SOFR(M)						3.50%						7.86%						04/2031						9,930						9,883						9,987
MH Sub I, LLC (Micro Holding Corp.)						Business Services						SOFR(M)						4.25%						8.56%						05/2028						7,094						6,973						7,111
MH Sub I, LLC (Micro Holding Corp.)						Business Services						SOFR(M)						4.25%						8.56%						12/2031						7,000						6,930						6,950
Nielsen Consumer Inc.						Business Services						SOFR(M)						4.75%						9.11%						03/2028						14,753						13,504						14,720
OMNIA Partners, LLC						Business Services						SOFR(Q)						2.75%						7.37%						07/2030						8,438						8,379						8,483
Osaic Holdings, Inc.						Financial Services						SOFR(M)						3.50%						7.86%						08/2028						11,568						11,452						11,627
Osmosis Buyer Limited						Consumer Products						SOFR(M)						3.50%						8.05%						07/2028						11,021						10,912						11,066
Pearls (Netherlands) Bidco B.V.						Specialty Chemicals & Materials						SOFR(Q)						4.00%						8.59%						02/2029						1,695						1,692						1,712
Peraton Corp.						Federal Services						SOFR(M)						3.75%						8.21%						02/2028						4,103						4,093						3,830
Perforce Software, Inc.						Software						SOFR(M)						4.75%						9.11%						03/2031						6,597						6,570						6,509
Physician Partners, LLC						Healthcare						SOFR(Q)						4.00%						8.74%						12/2028						4,188						4,160						1,766
Plano Holdco, Inc.						Information Technology						SOFR(Q)						3.50%						7.83%						10/2031						4,625						4,602						4,694
Planview Parent, Inc.						Software						SOFR(Q)						3.50%						7.83%						12/2027						13,633						13,454						13,747
Project Alpha Intermediate Holding, Inc.						Software						SOFR(Q)						3.25%						7.58%						10/2030						13,642						13,403						13,748
Project Ruby Ultimate Parent Corp.						Healthcare						SOFR(M)						3.00%						7.47%						03/2028						4,274						4,263						4,299
Pushpay USA Inc.						Software						SOFR(Q)						4.50%						8.83%						08/2031						3,120						3,090						3,147
Quartz Holding Company						Software						SOFR(M)						3.50%						7.86%						10/2028						9,084						9,044						9,129
RealPage, Inc.						Software						SOFR(Q)						3.00%						7.59%						04/2028						4,261						4,255						4,259
RealPage, Inc.						Software						SOFR(Q)						3.75%						8.08%						04/2028						5,000						4,975						5,028
RLG Holdings, LLC						Packaging						SOFR(M)						4.25%						8.72%						07/2028						5,668						5,652						5,613
RxB Holdings, Inc.						Healthcare						SOFR(M)						4.50%						8.97%						12/2027						6,274						6,203						6,274
RxB Holdings, Inc.						Healthcare						SOFR(M)						5.25%						9.61%						12/2027						3,632						3,568						3,632
Sierra Enterprises, LLC						Food & Beverage						SOFR(Q)						6.75%						11.34%						05/2027						2,540						2,539						2,540
Spring Education Group, Inc.						Education						SOFR(Q)						4.00%						8.33%						10/2030						12,225						12,093						12,315
Storable, Inc.						Software						SOFR(M)						3.50%						7.86%						04/2028						3,746						3,741						3,776
Summit Acquisition Inc.						Financial Services						SOFR(Q)						3.75%						8.08%						10/2031						6,000						5,971						6,000
Symplr Software, Inc.						Healthcare						SOFR(Q)						4.50%						9.19%						12/2027						15,400						15,331						14,122
Syndigo LLC						Software						SOFR(Q)						4.50%						9.28%						12/2027						14,674						14,622						14,720
Therapy Brands Holdings LLC						Healthcare						SOFR(M)						4.00%						8.47%						05/2028						4,016						4,005						3,414
Thermostat Purchaser III, Inc.						Business Services						SOFR(Q)						4.25%						8.58%						08/2028						8,506						8,485						8,506
TMF Sapphire Bidco B.V.						Business Services						SOFR(Q)						3.50%						8.09%						05/2028						2,640						2,600						2,657
TRC Companies LLC						Business Services						SOFR(M)						3.50%						7.97%						12/2028						13,884						13,836						14,018
UKG Inc.						Software						SOFR(Q)						3.00%						7.62%						02/2031						5,812						5,808						5,861
Valcour Packaging, LLC						Packaging						SOFR(M)						5.25%						9.73%						10/2028						2,256						2,235						2,328
Valcour Packaging, LLC						Packaging						SOFR(M)						1.50% + 2.25%/PIK						8.35%						10/2028						3,105						3,105						2,738
Viant Medical Holdings, Inc.						Healthcare						SOFR(Q)						4.00%						8.59%						10/2031						7,100						7,065						7,188
VSTG Intermediate Holdings, Inc.						Business Services						SOFR(Q)						4.75%						9.08%						07/2029						4,455						4,436						4,475
WatchGuard Technologies, Inc.						Software						SOFR(M)						5.25%						9.61%						07/2029						6,918						6,667						6,869

Portfolio Company and Type of Investment						Industry						Reference						Spread						Interest Rate (1)						Maturity Date						Principal Amount or Par Value						Cost						Fair Value (2)
Wrench Group LLC						Consumer Services						SOFR(Q)						4.00%						8.59%						10/2028						$	14,109					$	14,086					$	13,597
Xplor T1, LLC						Software						SOFR(Q)						3.50%						7.83%						06/2031						5,587						5,560						5,651
Zest Acquisition Corp.						Healthcare						SOFR(Q)						5.25%						9.84%						02/2028						4,031						3,916						4,082
Total Funded Investments																																				$	724,965					$	716,661					$	715,076
Unfunded Investments - First lien
AmSpec Parent, LLC						Energy						—						—						—						12/2026						$	885					$	(2)					$	7
Chrysaor Bidco S.a r.l.						Information Services						—						—						—						07/2026						158						—						1
DG Investment Intermediate Holdings 2, Inc.						Business Services						—						—						—						03/2028						246						(1)						3
Groundworks, LLC						Business Services						—						—						—						03/2026						1,365						(4)						9
Total Unfunded Investments																																				$	2,654					$	(7)					$	20
Total Investments																																				$	727,619					$	716,654					$	715,096

(1)All interest is payable in cash unless otherwise indicated. All of the variable rate debt investments bear interest at a rate that may be determined by reference to the Secured Overnight Financing Rate (SOFR). For each investment, the current interest rate provided reflects the rate in effect as of December 31, 2024.

(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, 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						SOFR(M)						3.75%						9.22%						12/2027						$	2,376					$	2,368					$	2,261
AG Parent Holdings, LLC						Healthcare						SOFR(Q)						5.00%						10.65%						07/2026						7,294						7,279						7,174
Aretec Group, Inc. (fka RCS Capital Corporation)						Financial Services						SOFR(M)						4.50%						9.96%						08/2030						6,626						6,480						6,634
Artera Services, LLC						Distribution & Logistics						SOFR(Q)						3.50%						8.95%						03/2025						5,273						5,259						4,968
Ascensus Group Holdings, Inc.						Business Services						SOFR(M)						3.50%						8.97%						08/2028						2,817						2,806						2,817
AssuredPartners, Inc						Insurance Services						SOFR(M)						3.75%						9.22%						02/2027						1,975						1,921						1,986
Aston FinCo S.a r.l.						Software						SOFR(M)						4.25%						9.72%						10/2026						5,775						5,749						4,929
athenahealth Group Inc.						Healthcare						SOFR(M)						3.25%						8.61%						02/2029						6,843						6,612						6,828
BCPE Empire Holdings, Inc.						Distribution & Logistics						SOFR(M)						4.75%						10.11%						12/2028						7,458						7,390						7,490
Bella Holding Company, LLC						Healthcare						SOFR(M)						3.75%						9.21%						05/2028						962						955						956
Boxer Parent Company Inc.						Software						SOFR(M)						4.25%						9.60%						12/2028						11,883						11,764						11,992
Bracket Intermediate Holding Corp.						Healthcare						SOFR(Q)						5.00%						10.45%						05/2028						14,253						13,870						14,280
Brown Group Holding, LLC						Distribution & Logistics						SOFR(Q)						3.75%						9.13%						07/2029						3,989						3,905						4,006
Cardinal Parent, Inc.						Software						SOFR(Q)						4.50%						10.00%						11/2027						9,821						9,646						9,048
CE Intermediate I, LLC						Software						SOFR(Q)						3.50%						9.02%						11/2028						10,810						10,754						10,729
CentralSquare Technologies, LLC						Software						SOFR(Q)						3.75%						9.25%						08/2025						14,250						14,240						13,817
CHA Holdings, Inc.						Business Services						SOFR(M)						4.50%						10.15%						04/2025						947						947						947
Cloudera, Inc.						Software						SOFR(M)						3.75%						9.21%						10/2028						5,692						5,553						5,654
CommerceHub, Inc.						Software						SOFR(Q)						4.00%						9.54%						12/2027						5,658						5,641						5,378
CommerceHub, Inc.						Software						SOFR(Q)						6.25%						11.79%						12/2027						3,960						3,548						3,960
Confluent Health, LLC						Healthcare						SOFR(M)						4.00%						9.47%						11/2028						10,962						10,919						10,771
Confluent Medical Technologies, Inc.						Healthcare						SOFR(Q)						3.75%						9.10%						02/2029						6,878						6,851						6,878
Convey Health Solutions, Inc.						Healthcare						SOFR(Q)						5.25%						10.74%						09/2026						12,838						12,559						11,483
Cornerstone OnDemand, Inc.						Software						SOFR(M)						3.75%						9.22%						10/2028						3,527						3,514						3,432
Covenant Surgical Partners, Inc.						Healthcare						SOFR(Q)						4.00%						9.38%						07/2026						9,583						9,545						7,539
Covenant Surgical Partners, Inc.						Healthcare						SOFR(Q)						4.00%						9.38%						07/2026						2,000						1,989						1,573
CRCI Longhorn Holdings, Inc.						Business Services						SOFR(M)						3.50%						8.96%						08/2025						14,213						14,194						14,261
CVET Midco 2, L.P.						Software						SOFR(Q)						5.00%						10.35%						10/2029						9,905						9,483						9,909
Dealer Tire Financial, LLC						Distribution & Logistics						SOFR(M)						4.50%						9.86%						12/2027						9,628						9,617						9,680
DG Investment Intermediate Holdings 2, Inc.						Business Services						SOFR(M)						3.75%						9.22%						03/2028						7,313						7,293						7,263
Discovery Purchaser Corporation						Specialty Chemicals & Materials						SOFR(Q)						4.38%						9.77%						10/2029						7,029						6,538						6,943
Dispatch Acquisition Holdings, LLC						Industrial Services						SOFR(Q)						4.25%						9.75%						03/2028						15,448						15,105						14,550
EAB Global, Inc.						Education						SOFR(M)						3.50%						8.97%						08/2028						3,960						3,929						3,958
Eagle Parent Corp.						Business Services						SOFR(Q)						4.25%						9.60%						04/2029						7,468						7,346						7,403
Eisner Advisory Group LLC						Financial Services						SOFR(M)						5.25%						10.72%						07/2028						2,190						2,113						2,195
eResearchTechnology, Inc.						Healthcare						SOFR(M)						4.50%						9.96%						02/2027						3,632						3,631						3,632
EyeCare Partners, LLC						Healthcare						SOFR(Q)						3.75%						9.39%						02/2027						12,210						12,202						6,114
Foundational Education Group, Inc.						Education						SOFR(Q)						4.25%						9.89%						08/2028						9,601						9,508						9,601
Groundworks, LLC						Consumer Services						SOFR(Q)						6.50%						11.90%						03/2030						1,432						1,395						1,419
Heartland Dental, LLC						Healthcare						SOFR(M)						5.00%						10.36%						04/2028						14,178						13,668						14,160
Help/Systems Holdings, Inc.						Software						SOFR(Q)						4.00%						9.48%						11/2026						17,883						17,795						17,048
Higginbotham Insurance Agency, Inc.						Business Services						SOFR(M)						5.50%						10.96%						11/2028						8,987						8,938						8,987
HighTower Holding, LLC						Financial Services						SOFR(Q)						4.00%						9.64%						04/2028						4,729						4,697						4,720
Houghton Mifflin Harcourt Company						Education						SOFR(M)						5.25%						10.71%						04/2029						8,151						7,898						8,009
Hub International Limited						Insurance Services						SOFR(Q)						4.25%						9.66%						06/2030						6,426						6,363						6,463
Hunter Holdco 3 Limited						Healthcare						SOFR(Q)						4.25%						9.70%						08/2028						3,000						2,978						2,998
Idera, Inc.						Software						SOFR(Q)						3.75%						9.28%						03/2028						15,642						15,633						15,584

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						SOFR(Q)						4.25%						9.70%						06/2026						$	11,811					$	11,778					$	11,841
LI Group Holdings, Inc.						Software						SOFR(M)						3.50%						8.97%						03/2028						3,749						3,743						3,763
LSCS Holdings, Inc.						Healthcare						SOFR(M)						4.50%						9.97%						12/2028						7,491						7,462						7,407
Marcel Bidco LLC (Marcel Bidco GmbH)						Software						SOFR(M)						4.50%						9.13%						11/2030						2,837						2,795						2,856
Maverick Bidco Inc.						Software						SOFR(Q)						3.75%						9.28%						05/2028						3,920						3,907						3,875
Maverick Bidco Inc.						Software						SOFR(Q)						4.25%						9.89%						05/2028						2,488						2,377						2,463
Maverick Bidco Inc.						Software						SOFR(Q)						5.00%						10.47%						05/2028						1,985						1,904						1,962
Mavis Tire Express Services Topco Corp.						Retail						SOFR(M)						4.00%						9.47%						05/2028						4,131						4,118						4,144
MED ParentCo, LP						Healthcare						SOFR(M)						4.25%						9.72%						08/2026						12,458						12,407						12,361
MH Sub I, LLC (Micro Holding Corp.)						Business Services						SOFR(M)						4.25%						9.61%						05/2028						3,558						3,479						3,505
Netsmart, Inc.						Healthcare						SOFR(M)						3.75%						9.22%						10/2027						3,900						3,900						3,913
Nielsen Consumer Inc.						Business Services						SOFR(M)						6.25%						11.61%						03/2028						14,925						13,402						14,639
OMNIA Partners, LLC						Business Services						SOFR(Q)						4.25%						9.63%						07/2030						5,919						5,862						5,960
Optiv Parent Inc.						Business Services						SOFR(Q)						5.25%						10.63%						07/2026						6,585						6,396						6,308
Osaic Holdings, Inc.						Financial Services						SOFR(M)						4.50%						9.86%						08/2028						9,650						9,559						9,693
Osmosis Buyer Limited						Food & Beverage						SOFR(M)						3.75%						9.09%						07/2028						2,494						2,457						2,499
Osmosis Buyer Limited						Food & Beverage						SOFR(M)						4.25%						9.60%						07/2028						2,405						2,333						2,418
Pearls (Netherlands) Bidco B.V.						Specialty Chemicals & Materials						SOFR(Q)						3.75%						9.13%						02/2029						1,710						1,707						1,698
Peraton Corp.						Federal Services						SOFR(M)						3.75%						9.21%						02/2028						4,147						4,133						4,161
Physician Partners, LLC						Healthcare						SOFR(Q)						4.00%						9.53%						12/2028						4,231						4,197						4,010
Planview Parent, Inc.						Software						SOFR(Q)						4.00%						9.61%						12/2027						10,721						10,528						10,669
Premise Health Holding Corp.						Healthcare						SOFR(Q)						3.75%						9.25%						07/2025						7,328						7,319						7,200
Project Alpha Intermediate Holding, Inc.						Software						SOFR(M)						4.75%						10.11%						10/2030						13,745						13,474						13,859
Project Ruby Ultimate Parent Corp.						Healthcare						SOFR(M)						5.75%						11.22%						03/2028						4,938						4,817						5,018
Project Ruby Ultimate Parent Corp.						Healthcare						SOFR(M)						3.25%						8.72%						03/2028						4,308						4,293						4,310
RealPage, Inc.						Software						SOFR(M)						3.00%						8.47%						04/2028						4,305						4,298						4,288
Renaissance Holding Corp.						Education						SOFR(M)						4.75%						10.11%						04/2030						6,612						6,429						6,644
RLG Holdings, LLC						Packaging						SOFR(M)						4.25%						9.72%						07/2028						5,727						5,707						5,403
RxB Holdings, Inc.						Healthcare						SOFR(M)						4.50%						9.97%						12/2027						6,339						6,247						6,327
RxB Holdings, Inc.						Healthcare						SOFR(M)						5.25%						10.61%						12/2027						3,669						3,586						3,669
Sierra Enterprises, LLC						Food & Beverage						SOFR(Q)						2.50% + 4.25%/PIK						12.13%						05/2027						2,484						2,483						2,304
Snap One Holdings Corp.						Distribution & Logistics						SOFR(Q)						4.50%						10.00%						12/2028						6,556						6,506						6,425
Spring Education Group, Inc.						Education						SOFR(Q)						4.50%						9.85%						10/2030						12,349						12,198						12,390
Storable, Inc.						Software						SOFR(M)						3.50%						8.86%						04/2028						3,785						3,779						3,782
Symplr Software, Inc.						Healthcare						SOFR(Q)						4.50%						9.98%						12/2027						15,560						15,470						13,978
Syndigo LLC						Software						SOFR(M)						4.50%						9.97%						12/2027						14,588						14,519						14,588
Therapy Brands Holdings LLC						Software						SOFR(M)						4.00%						9.47%						05/2028						4,058						4,043						3,763
Thermostat Purchaser III, Inc.						Business Services						SOFR(Q)						4.50%						10.04%						08/2028						6,560						6,535						6,475
TMF Sapphire Bidco B.V.						Business Services						SOFR(Q)						5.00%						10.41%						05/2028						2,667						2,616						2,685
TRC Companies LLC						Business Services						SOFR(M)						3.75%						9.22%						12/2028						13,525						13,470						13,548
UKG Inc.						Software						SOFR(Q)						4.50%						9.99%						05/2026						4,975						4,880						5,004
USI, Inc.						Financial Services						SOFR(Q)						3.00%						8.35%						11/2029						2,446						2,403						2,456
Valcour Packaging, LLC						Packaging						SOFR(M)						3.75%						9.21%						10/2028						4,459						4,449						3,552
WatchGuard Technologies, Inc.						Software						SOFR(M)						5.25%						10.60%						07/2029						5,237						4,944						5,045
Waystar Technologies, Inc.						Healthcare						SOFR(M)						4.00%						9.47%						10/2026						3,983						3,978						4,003

Portfolio Company and Type of Investment						Industry						Reference						Spread						Interest Rate (1)						Maturity Date						Principal Amount or Par Value						Cost						Fair Value (2)
Wrench Group LLC						Consumer Services						SOFR(Q)						4.00%						9.61%						04/2026						$	7,743					$	7,732					$	7,772
Wrench Group LLC						Consumer Services						SOFR(Q)						4.50%						9.95%						04/2026						5,473						5,386						5,495
Zest Acquisition Corp.						Healthcare						SOFR(M)						5.50%						10.86%						02/2028						4,072						3,926						3,999
Total Funded Investments																																				$	656,081					$	646,319					$	636,554
Unfunded Investments - First lien
Groundworks, LLC						Consumer Services						—						—						—						09/2024						$	65					$	(1)					$	(1)
OMNIA Partners, LLC						Business Services						—						—						—						01/2024						556						(3)						4
Osmosis Buyer Limited						Food & Beverage						—						—						—						07/2028						506						—						3
Total Unfunded Investments																																				$	1,127					$	(4)					$	6
Total Investments																																				$	657,208					$	646,315					$	636,560

(1)All interest is payable in cash unless otherwise indicated. All of the variable rate debt investments bear interest at a rate that may be determined by reference to the Secured Overnight Financing Rate (SOFR). For each investment, the current interest rate provided reflects the rate in effect as of December 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 III.

Below is certain summarized financial information for SLP III as of December 31, 2024 and December 31, 2023 and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022:

Selected Balance Sheet Information:			December 31, 2024						December 31, 2023
Investments at fair value (cost of $716,654 and $646,315, respectively)			$	715,096					$	636,560
Cash and other assets			20,988						21,443
Receivable from unsettled securities sold			9,652						—
Total assets			$	745,736					$	658,003
Credit facility			$	511,200					$	453,200
Deferred financing costs (net of accumulated amortization of $6,515 and $5,650, respectively)			(3,692)						(943)
Payable for unsettled securities purchased			27,428						23,881
Distribution payable			7,625						6,672
Other liabilities			7,493						7,862
Total liabilities			550,054						490,672
Members' capital			$	195,682					$	167,331
Total liabilities and members' capital			$	745,736					$	658,003

			Year Ended December 31,
Selected Statement of Operations Information:			2024						2023						2022
Interest income			$	65,979					$	64,921					$	41,382
Other income			235						502						774
Total investment income			66,214						65,423						42,156
Interest and other financing expenses			35,283						35,336						19,274
Other expenses			990						1,143						863
Net expenses			36,273						36,479						20,137
Net investment income			29,941						28,944						22,019
Net realized losses on investments			(5,656)						(2,663)						(247)
Net change in unrealized appreciation (depreciation) of investments			8,197						32,206						(42,366)
Net increase (decrease) in members' capital			$	32,482					$	58,487					$	(20,594)

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 December 31, 2024 and December 31, 2023:

						December 31, 2024						December 31, 2023
First lien investments (1)						$	481,040					$	482,776
Weighted average interest rate on first lien investments (2)						8.54		%				9.81		%
Number of portfolio companies in SLP IV						79						78
Largest portfolio company investment (1)						$	17,933					$	17,400
Total of five largest portfolio company investments (1)						$	62,752					$	67,838

(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 December 31, 2024:

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						SOFR(Q)						1.00% + 3.00%/PIK						8.48%						09/2026						$	17,933					$	17,928					$	15,544
ADMI Corp. (aka Aspen Dental)						Healthcare						SOFR(M)						3.75%						8.22%						12/2027						1,814						1,809						1,788
AmSpec Parent, LLC						Energy						SOFR(Q)						4.25%						8.56%						12/2031						2,986						2,971						3,009
Ascensus Group Holdings, Inc.						Business Services						SOFR(M)						3.00%						7.36%						08/2028						4,127						4,115						4,168
Asurion, LLC						Business Services						SOFR(M)						4.25%						8.71%						08/2028						9,692						9,623						9,716
athenahealth Group Inc.						Healthcare						SOFR(M)						3.25%						7.61%						02/2029						2,349						2,342						2,361
Bach Finance Limited						Education						SOFR(Q)						3.75%						8.26%						02/2031						1,607						1,603						1,621
Barracuda Parent, LLC						Software						SOFR(Q)						4.50%						9.09%						08/2029						4,900						4,793						4,551
Bayou Intermediate II, LLC						Healthcare						SOFR(Q)						4.50%						9.35%						08/2028						8,853						8,820						8,853
BCPE Empire Holdings, Inc.						Distribution & Logistics						SOFR(M)						3.50%						7.86%						12/2028						5,299						5,264						5,334
Bella Holding Company, LLC						Healthcare						SOFR(M)						3.75%						8.21%						05/2028						745						743						751
BIFM CA Buyer Inc.						Business Services						SOFR(M)						3.75%						8.11%						05/2028						2,709						2,679						2,736
Bleriot US Bidco Inc.						Federal Services						SOFR(Q)						2.75%						7.08%						10/2030						3,861						3,846						3,885
Boxer Parent Company Inc.						Software						SOFR(Q)						3.75%						8.34%						07/2031						10,440						10,415						10,541
Bracket Intermediate Holding Corp.						Healthcare						SOFR(Q)						4.25%						8.58%						05/2028						4,350						4,255						4,394
BW Holding, Inc.						Packaging						SOFR(Q)						4.00%						8.66%						12/2028						2,024						1,913						1,810
CE Intermediate I, LLC						Software						SOFR(M)						3.50%						8.05%						11/2028						8,013						7,978						8,058
Chrysaor Bidco S.a r.l.						Information Services						SOFR(Q)						3.50%						8.12%						07/2031						1,573						1,573						1,588
Cloudera, Inc.						Software						SOFR(M)						3.75%						8.21%						10/2028						9,322						9,199						9,336
CommerceHub, Inc.						Software						SOFR(Q)						6.25%						10.90%						12/2027						539						539						539
CommerceHub, Inc.						Software						SOFR(Q)						4.00%						8.80%						12/2027						4,067						3,926						3,866
Confluent Health, LLC						Healthcare						SOFR(M)						4.00%						8.47%						11/2028						3,115						3,104						3,048
Confluent Medical Technologies, Inc.						Healthcare						SOFR(Q)						3.25%						7.85%						02/2029						6,808						6,786						6,842
Convey Health Solutions, Inc.						Healthcare						SOFR(Q)						1.00% + 4.25%/PIK						9.68%						07/2029						3,414						3,360						3,098
Cornerstone OnDemand, Inc.						Software						SOFR(M)						3.75%						8.22%						10/2028						1,828						1,823						1,612
CVET Midco 2, L.P.						Software						SOFR(Q)						5.00%						9.33%						10/2029						6,589						6,442						6,354
Dealer Tire Financial, LLC						Distribution & Logistics						SOFR(M)						3.50%						7.86%						07/2031						10,480						10,431						10,507
Discovery Purchaser Corporation						Specialty Chemicals & Materials						SOFR(Q)						4.38%						8.95%						10/2029						5,788						5,461						5,830
Dispatch Acquisition Holdings, LLC						Industrial Services						SOFR(Q)						4.25%						8.73%						03/2028						9,674						9,604						9,245
EAB Global, Inc.						Education						SOFR(M)						3.25%						7.61%						08/2028						995						990						1,000
Eagle Parent Corp.						Business Services						SOFR(Q)						4.25%						8.58%						04/2029						7,405						7,312						7,273
Eisner Advisory Group LLC						Financial Services						SOFR(M)						4.00%						8.36%						02/2031						5,026						4,980						5,092
eResearchTechnology, Inc.						Healthcare						SOFR(M)						4.00%						8.36%						02/2027						2,167						2,160						2,183
Flash Charm, Inc.						Software						SOFR(Q)						3.50%						8.07%						03/2028						10,056						10,012						9,885
FNZ Group Entities Limited						Financial Services						SOFR(Q)						5.00%						9.55%						11/2031						7,270						7,126						7,116
Foundational Education Group, Inc.						Education						SOFR(Q)						3.75%						8.60%						08/2028						11,044						10,939						10,823
Groundworks, LLC						Business Services						SOFR(M)						3.25%						7.65%						03/2031						121						121						122
Groundworks, LLC						Business Services						SOFR(M)						3.25%						7.65%						03/2031						4,103						4,065						4,130
Heartland Dental, LLC						Healthcare						SOFR(M)						4.50%						8.86%						04/2028						10,011						9,795						10,042
Help/Systems Holdings, Inc.						Software						SOFR(Q)						4.00%						8.69%						11/2026						9,607						9,593						8,490
Houghton Mifflin Harcourt Company						Education						SOFR(M)						5.25%						9.71%						04/2029						6,246						6,083						6,163
Inizio Group Limited						Healthcare						SOFR(Q)						4.25%						8.68%						08/2028						3,949						3,926						3,905
Kestra Advisor Services Holdings A, Inc.						Financial Services						SOFR(M)						3.00%						7.37%						03/2031						4,560						4,549						4,571
LSCS Holdings, Inc.						Healthcare						SOFR(M)						4.50%						8.97%						12/2028						9,774						9,721						9,853
Mandolin Technology Intermediate Holdings, Inc.						Software						SOFR(Q)						3.75%						8.23%						07/2028						9,700						9,672						7,954

Portfolio Company and Type of Investment						Industry						Reference						Spread						Interest Rate (1)						Maturity Date						Principal Amount or Par Value						Cost						Fair Value (2)
Marcel Bidco LLC (Marcel Bidco GmbH)						Software						SOFR(M)						3.50%						8.07%						11/2030						$	2,029					$	2,002					$	2,052
Maverick Bidco Inc.						Software						SOFR(Q)						5.00%						9.69%						05/2028						1,965						1,900						1,968
Maverick Bidco Inc.						Software						SOFR(Q)						3.75%						8.49%						05/2028						7,761						7,739						7,773
Mavis Tire Express Services Topco, Corp.						Retail						SOFR(M)						3.50%						7.86%						05/2028						8,180						8,158						8,246
MED ParentCo, LP						Healthcare						SOFR(M)						3.50%						7.86%						04/2031						7,327						7,293						7,370
MH Sub I, LLC (Micro Holding Corp.)						Business Services						SOFR(M)						4.25%						8.56%						12/2031						3,000						2,970						2,979
MH Sub I, LLC (Micro Holding Corp.)						Business Services						SOFR(M)						4.25%						8.56%						05/2028						6,095						5,989						6,110
Nielsen Consumer Inc.						Business Services						SOFR(M)						4.75%						9.11%						03/2028						9,836						9,009						9,813
OMNIA Partners, LLC						Business Services						SOFR(Q)						2.75%						7.37%						07/2030						4,970						4,928						4,997
Osaic Holdings, Inc.						Financial Services						SOFR(M)						3.50%						7.86%						08/2028						11,432						11,344						11,490
Osmosis Buyer Limited						Consumer Products						SOFR(M)						3.50%						8.05%						07/2028						8,828						8,742						8,864
Pearls (Netherlands) Bidco B.V.						Specialty Chemicals & Materials						SOFR(Q)						4.00%						8.59%						02/2029						1,307						1,305						1,321
Perforce Software, Inc.						Software						SOFR(M)						4.75%						9.11%						03/2031						4,868						4,848						4,803
Physician Partners, LLC						Healthcare						SOFR(Q)						4.00%						8.74%						12/2028						3,165						3,144						1,334
Planview Parent, Inc.						Software						SOFR(Q)						3.50%						7.83%						12/2027						2,993						2,985						3,018
Project Alpha Intermediate Holding, Inc.						Software						SOFR(Q)						3.25%						7.58%						10/2030						9,806						9,633						9,882
Project Ruby Ultimate Parent Corp.						Healthcare						SOFR(M)						3.00%						7.47%						03/2028						4,975						4,955						5,004
Quartz Holding Company						Software						SOFR(M)						3.50%						7.86%						10/2028						6,874						6,845						6,909
RealPage, Inc.						Software						SOFR(Q)						3.00%						7.59%						04/2028						1,357						1,354						1,357
RealPage, Inc.						Software						SOFR(Q)						3.75%						8.08%						04/2028						2,000						1,990						2,011
RxB Holdings, Inc.						Healthcare						SOFR(M)						4.50%						8.97%						12/2027						7,287						7,268						7,287
Sierra Enterprises, LLC						Food & Beverage						SOFR(Q)						6.75%						11.34%						05/2027						4,450						4,445						4,450
Spring Education Group, Inc.						Education						SOFR(Q)						4.00%						8.33%						10/2030						9,431						9,327						9,500
STATS Intermediate Holdings, LLC						Business Services						SOFR(Q)						5.25%						10.03%						07/2026						3,984						3,892						3,941
STATS Intermediate Holdings, LLC						Business Services						SOFR(Q)						7.25%						12.03%						07/2026						2,248						2,205						2,248
Storable, Inc.						Software						SOFR(M)						3.50%						7.86%						04/2028						3,880						3,867						3,911
Symplr Software, Inc.						Healthcare						SOFR(Q)						4.50%						9.19%						12/2027						3,688						3,683						3,382
Syndigo LLC						Software						SOFR(Q)						4.50%						9.28%						12/2027						9,798						9,788						9,828
Therapy Brands Holdings LLC						Healthcare						SOFR(M)						4.00%						8.47%						05/2028						5,908						5,891						5,021
Thermostat Purchaser III, Inc.						Business Services						SOFR(Q)						4.25%						8.58%						08/2028						5,648						5,634						5,648
TRC Companies LLC						Business Services						SOFR(M)						3.50%						7.97%						12/2028						9,973						9,939						10,070
Valcour Packaging, LLC						Packaging						SOFR(M)						5.25%						9.73%						10/2028						1,641						1,625						1,693
Valcour Packaging, LLC						Packaging						SOFR(M)						1.50% + 2.25%/PIK						8.35%						10/2028						2,258						2,258						1,992
Viant Medical Holdings, Inc.						Healthcare						SOFR(Q)						4.00%						8.59%						10/2031						2,500						2,488						2,531
VSTG Intermediate Holdings, Inc.						Business Services						SOFR(Q)						4.75%						9.08%						07/2029						3,372						3,357						3,387
VT Topco, Inc.						Business Services						SOFR(Q)						3.00%						7.33%						08/2030						5,724						5,675						5,771
WatchGuard Technologies, Inc.						Software						SOFR(M)						5.25%						9.61%						07/2029						3,999						3,807						3,971
Wrench Group LLC						Consumer Services						SOFR(Q)						4.00%						8.59%						10/2028						9,300						9,273						8,963
Xplor T1, LLC						Software						SOFR(Q)						3.50%						7.83%						06/2031						4,065						4,046						4,112
Zest Acquisition Corp.						Healthcare						SOFR(Q)						5.25%						9.84%						02/2028						3,110						3,032						3,149
Zone Climate Services, Inc.						Business Services						SOFR(Q)						5.50%						10.27%						03/2028						9,725						9,609						9,489
Zone Climate Services, Inc.						Business Services						SOFR(Q)						5.50%						10.27%						03/2028						2,138						2,112						2,086
Total Funded Investments																																				$	479,828					$	474,743					$	469,318
Unfunded Investments - First lien
AmSpec Parent, LLC						Energy						—						—						—						12/2026						$	459					$	(1)					$	3
Chrysaor Bidco S.a r.l.						Information Services						—						—						—						07/2026						116						—						1
Groundworks, LLC						Business Services						—						—						—						03/2026						637						(4)						4
Total Unfunded Investments																																				$	1,212					$	(5)					$	8
Total Investments																																				$	481,040					$	474,738					$	469,326

(1)All interest is payable in cash unless otherwise indicated. All of the variable rate debt investments bear interest at a rate that may be determined by reference to the Secured Overnight Financing Rate (SOFR). For each investment, the current interest rate provided reflects the rate in effect as of December 31, 2024.

(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, 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						SOFR(Q)						1.00% + 3.00%/PIK						9.54%						09/2026						$	17,400					$	17,394					$	14,967
ADMI Corp. (aka Aspen Dental)						Healthcare						SOFR(M)						3.75%						9.22%						12/2027						1,833						1,827						1,744
Aretec Group, Inc. (fka RCS Capital Corporation)						Financial Services						SOFR(M)						4.50%						9.96%						08/2030						4,804						4,700						4,810
Artera Services, LLC						Distribution & Logistics						SOFR(Q)						3.50%						8.95%						03/2025						4,068						4,057						3,832
Ascensus Group Holdings, Inc.						Business Services						SOFR(M)						3.50%						8.97%						08/2028						4,171						4,156						4,171
athenahealth Group Inc.						Healthcare						SOFR(M)						3.25%						8.61%						02/2029						2,373						2,364						2,368
Barracuda Parent, LLC						Software						SOFR(Q)						4.50%						9.88%						08/2029						4,950						4,824						4,851
Bayou Intermediate II, LLC						Healthcare						SOFR(Q)						4.50%						10.15%						08/2028						8,940						8,899						8,549
BCPE Empire Holdings, Inc.						Distribution & Logistics						SOFR(M)						4.75%						10.11%						12/2028						4,353						4,313						4,371
Bella Holding Company, LLC						Healthcare						SOFR(M)						3.75%						9.21%						05/2028						753						751						748
Bleriot US Bidco Inc.						Federal Services						SOFR(Q)						4.00%						9.61%						10/2028						3,900						3,882						3,921
Boxer Parent Company Inc.						Software						SOFR(M)						4.25%						9.60%						12/2028						8,987						8,897						9,070
Bracket Intermediate Holding Corp.						Healthcare						SOFR(Q)						5.00%						10.45%						05/2028						4,394						4,275						4,402
Brown Group Holding, LLC						Distribution & Logistics						SOFR(Q)						3.75%						9.13%						07/2029						5,370						5,255						5,393
CE Intermediate I, LLC						Software						SOFR(Q)						3.50%						9.02%						11/2028						8,095						8,052						8,035
CentralSquare Technologies, LLC						Software						SOFR(Q)						3.75%						9.25%						08/2025						14,250						14,240						13,817
CHA Holdings, Inc.						Business Services						SOFR(M)						4.50%						10.15%						04/2025						10,692						10,682						10,692
CHA Holdings, Inc.						Business Services						SOFR(M)						4.50%						9.97%						04/2025						1,963						1,961						1,963
Cloudera, Inc.						Software						SOFR(M)						3.75%						9.21%						10/2028						4,308						4,202						4,279
Confluent Health, LLC						Healthcare						SOFR(M)						4.00%						9.47%						11/2028						7,338						7,309						7,210
Confluent Medical Technologies, Inc.						Healthcare						SOFR(Q)						3.75%						9.10%						02/2029						6,878						6,851						6,877
Convey Health Solutions, Inc.						Healthcare						SOFR(Q)						5.25%						10.74%						09/2026						4,938						4,830						4,417
Cornerstone OnDemand, Inc.						Software						SOFR(M)						3.75%						9.22%						10/2028						2,519						2,510						2,452
CVET Midco 2, L.P.						Software						SOFR(Q)						5.00%						10.35%						10/2029						6,656						6,481						6,659
Dealer Tire Financial, LLC						Distribution & Logistics						SOFR(M)						4.50%						9.86%						12/2027						10,559						10,538						10,617
Discovery Purchaser Corporation						Specialty Chemicals & Materials						SOFR(Q)						4.38%						9.77%						10/2029						5,346						4,972						5,280
Dispatch Acquisition Holdings, LLC						Industrial Services						SOFR(Q)						4.25%						9.75%						03/2028						9,774						9,686						9,206
EAB Global, Inc.						Education						SOFR(M)						3.50%						8.97%						08/2028						4,369						4,340						4,367
Eagle Parent Corp.						Business Services						SOFR(Q)						4.25%						9.60%						04/2029						7,481						7,369						7,415
Eisner Advisory Group LLC						Financial Services						SOFR(M)						5.25%						10.72%						07/2028						1,689						1,630						1,694
eResearchTechnology, Inc.						Healthcare						SOFR(M)						4.50%						9.96%						02/2027						2,190						2,179						2,190
EyeCare Partners, LLC						Healthcare						SOFR(Q)						3.75%						9.39%						11/2028						9,825						9,807						4,932
Foundational Education Group, Inc.						Education						SOFR(Q)						4.25%						9.89%						08/2028						8,453						8,344						8,453
Geo Parent Corporation						Business Services						SOFR(S)						5.25%						10.80%						12/2028						9,634						9,479						9,634
Heartland Dental, LLC						Healthcare						SOFR(M)						5.00%						10.36%						04/2028						7,605						7,332						7,596
Help/Systems Holdings, Inc.						Software						SOFR(Q)						4.00%						9.48%						11/2026						9,707						9,687						9,254
Houghton Mifflin Harcourt Company						Education						SOFR(M)						5.25%						10.71%						04/2029						6,310						6,116						6,200
Hub International Limited						Insurance Services						SOFR(Q)						4.25%						9.66%						06/2030						2,754						2,728						2,770
Hunter Holdco 3 Limited						Healthcare						SOFR(Q)						4.25%						9.70%						08/2028						3,949						3,921						3,947
Idera, Inc.						Software						SOFR(Q)						3.75%						9.28%						03/2028						9,130						9,079						9,096
Kestra Advisor Services Holdings A, Inc.						Financial Services						SOFR(Q)						4.25%						9.70%						06/2026						5,374						5,344						5,387
LSCS Holdings, Inc.						Healthcare						SOFR(M)						4.50%						9.97%						12/2028						8,582						8,551						8,485
Mandolin Technology Intermediate Holdings, Inc.						Software						SOFR(Q)						3.75%						9.25%						07/2028						9,800						9,765						8,942
Marcel Bidco LLC (Marcel Bidco GmbH)						Software						SOFR(M)						4.50%						9.13%						11/2030						2,039						2,009						2,053
Maverick Bidco Inc.						Software						SOFR(Q)						3.75%						9.28%						05/2028						7,841						7,814						7,750

Portfolio Company and Type of Investment						Industry						Reference						Spread						Interest Rate (1)						Maturity Date						Principal Amount or Par Value						Cost						Fair Value (2)
Maverick Bidco Inc.						Software						SOFR(Q)						5.00%						10.47%						05/2028						$	1,985					$	1,904					$	1,962
Mavis Tire Express Services Topco Corp.						Retail						SOFR(M)						4.00%						9.47%						05/2028						8,263						8,235						8,288
MH Sub I, LLC (Micro Holding Corp.)						Business Services						SOFR(M)						4.25%						9.61%						05/2028						4,783						4,677						4,711
Netsmart, Inc.						Healthcare						SOFR(M)						3.75%						9.22%						10/2027						6,825						6,825						6,848
Nielsen Consumer Inc.						Business Services						SOFR(M)						6.25%						11.61%						03/2028						9,950						8,943						9,759
OEConnection LLC						Software						SOFR(M)						4.00%						9.46%						09/2026						4,039						4,020						4,037
OMNIA Partners, LLC						Business Services						SOFR(Q)						4.25%						9.63%						07/2030						4,566						4,523						4,598
Optiv Parent Inc.						Business Services						SOFR(Q)						5.25%						10.63%						07/2026						5,080						4,934						4,866
Osaic Holdings, Inc.						Financial Services						SOFR(M)						4.50%						9.86%						08/2028						11,518						11,410						11,569
Osmosis Buyer Limited						Food & Beverage						SOFR(M)						3.75%						9.09%						07/2028						2,494						2,457						2,499
Osmosis Buyer Limited						Food & Beverage						SOFR(M)						4.25%						9.60%						07/2028						1,726						1,674						1,735
Pearls (Netherlands) Bidco B.V.						Specialty Chemicals & Materials						SOFR(Q)						3.75%						9.13%						02/2029						1,319						1,317						1,310
Physician Partners, LLC						Healthcare						SOFR(Q)						4.00%						9.53%						12/2028						3,197						3,173						3,031
Premise Health Holding Corp.						Healthcare						SOFR(Q)						3.75%						9.25%						07/2025						1,926						1,923						1,892
Project Alpha Intermediate Holding, Inc.						Software						SOFR(M)						4.75%						10.11%						10/2030						9,880						9,684						9,962
RealPage, Inc.						Software						SOFR(M)						3.00%						8.47%						04/2028						1,371						1,368						1,366
Renaissance Holding Corp.						Education						SOFR(M)						4.75%						10.11%						04/2030						5,101						4,959						5,126
RxB Holdings, Inc.						Healthcare						SOFR(M)						4.50%						9.97%						12/2027						7,363						7,338						7,349
Sierra Enterprises, LLC						Food & Beverage						SOFR(Q)						2.50% + 4.25%/PIK						12.13%						05/2027						4,352						4,345						4,036
Snap One Holdings Corp.						Distribution & Logistics						SOFR(Q)						4.50%						10.00%						12/2028						8,498						8,433						8,328
Spring Education Group, Inc.						Education						SOFR(Q)						4.50%						9.85%						10/2030						9,526						9,408						9,558
STATS Intermediate Holdings, LLC						Business Services						SOFR(Q)						7.25%						12.88%						07/2026						2,271						2,203						2,271
Storable, Inc.						Software						SOFR(M)						3.50%						8.86%						04/2028						3,920						3,904						3,918
Symplr Software, Inc.						Healthcare						SOFR(Q)						4.50%						9.98%						12/2027						3,726						3,719						3,347
Syndigo LLC						Software						SOFR(M)						4.50%						9.97%						12/2027						9,660						9,648						9,660
Therapy Brands Holdings LLC						Software						SOFR(M)						4.00%						9.47%						05/2028						5,969						5,947						5,536
Thermostat Purchaser III, Inc.						Business Services						SOFR(Q)						4.50%						10.04%						08/2028						4,686						4,668						4,625
TRC Companies LLC						Business Services						SOFR(M)						3.75%						9.22%						12/2028						9,574						9,536						9,590
USIC Holdings, Inc.						Business Services						SOFR(Q)						3.50%						9.11%						05/2028						2,971						2,963						2,952
Valcour Packaging, LLC						Packaging						SOFR(M)						3.75%						9.21%						10/2028						3,244						3,236						2,584
VT Topco, Inc.						Business Services						SOFR(M)						4.25%						9.61%						08/2030						7,289						7,218						7,335
WatchGuard Technologies, Inc.						Software						SOFR(M)						5.25%						10.60%						07/2029						4,040						3,814						3,892
Wrench Group LLC						Consumer Services						SOFR(Q)						4.00%						9.61%						04/2026						9,371						9,337						9,406
Zest Acquisition Corp.						Healthcare						SOFR(M)						5.50%						10.86%						02/2028						3,142						3,039						3,085
Zone Climate Services, Inc.						Business Services						SOFR(Q)						5.25%						10.80%						03/2028						9,850						9,702						9,824
Zone Climate Services, Inc.						Business Services						SOFR(Q)						5.25%						10.80%						03/2028						2,165						2,133						2,160
Total Funded Investments																																				$	481,984					$	476,019					$	467,881
Unfunded Investments - First lien
OMNIA Partners, LLC						Business Services						—						—						—						01/2024						$	429					$	(2)					$	3
Osmosis Buyer Limited						Food & Beverage						—						—						—						07/2028						363						—						2
Total Unfunded Investments																																				$	792					$	(2)					$	5
Total Investments																																				$	482,776					$	476,017					$	467,886

(1)All interest is payable in cash unless otherwise indicated. All of the variable rate debt investments bear interest at a rate that may be determined by reference to the Secured Overnight Financing Rate (SOFR). For each investment, the current interest rate provided reflects the rate in effect as of December 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.

Below is certain summarized consolidated financial information for SLP IV as of December 31, 2024 and December 31, 2023 and for the year ended December 31, 2024, December 31, 2023 and December 31, 2022:

Selected Consolidated Balance Sheet Information:			December 31, 2024						December 31, 2023
Investments at fair value (cost of $474,738 and $476,017, respectively)			$	469,326					$	467,886
Cash and other assets			15,401						16,227
Receivable from unsettled securities sold			7,232						1,445
Total assets			$	491,959					$	485,558
Credit facility			$	334,437					$	306,537
Deferred financing costs (net of accumulated amortization of $2,616 and $1,599, respectively)			(3,088)						(1,414)
Payable for unsettled securities purchased			13,485						31,322
Distribution payable			5,184						5,220
Other liabilities			6,090						6,676
Total liabilities			356,108						348,341
Members' capital			$	135,851					$	137,217
Total liabilities and members' capital			$	491,959					$	485,558

Selected Consolidated Statement of Operations Information:			Year Ended
			December 31, 2024						December 31, 2023						December 31, 2022
Interest income			$	47,199					$	48,082					$	31,017
Other income			109						498						561
Total investment income			47,308						48,580						31,578
Interest and other financing expenses			25,321						24,860						13,580
Other expenses			834						958						757
Total expenses			26,155						25,818						14,337
Net investment income			21,153						22,762						17,241
Net realized losses on investments			(4,592)						(1,857)						(164)
Net change in unrealized appreciation (depreciation) of investments			2,719						22,982						(31,018)
Net increase (decrease) in members' capital			$	19,280					$	43,887					$	(13,941)

X

- Definition

Tabular disclosure of summarized financial information for nonconsolidated subsidiary of investment company. Excludes information consolidated by reporting entity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

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Namespace Prefix:	us-gaap_
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

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(2)
-Publisher FASB
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