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Investments (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Investments [Abstract]

Schedule of Investments

At March 31, 2025, the Company's investments consisted of the following:

Investment Cost and Fair Value by Type

			Cost						Fair Value
First lien			$	1,975,174					$	1,959,038
Second lien			186,274						173,598
Subordinated			116,809						104,948
Structured Finance Obligations			3,232						3,232
Equity and other			811,454						793,395
Total investments			$	3,092,943					$	3,034,211

Investment Cost and Fair Value by Industry

			Cost						Fair Value
Software			$	843,518					$	835,189
Healthcare			535,646						529,371
Business Services			500,719						445,593
Investment Funds (includes investments in joint ventures)			275,632						275,632
Consumer Services			188,708						188,503
Education			197,890						176,319
Financial Services			120,261						125,472
Distribution & Logistics			119,441						119,128
Net Lease			81,370						114,521
Packaging			68,471						68,856
Energy			69,458						63,520
Food & Beverage			39,073						42,345
Business Products			22,134						22,331
Consumer Products			21,090						17,844
Specialty Chemicals & Materials			9,532						9,587
Total investments			$	3,092,943					$	3,034,211

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

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, 2025 and December 31, 2024:

						March 31, 2025						December 31, 2024
First lien investments (1)						$	710,505					$	727,619
Weighted average interest rate on first lien investments (2)						8.31		%				8.49		%
Number of portfolio companies in SLP III						90						90
Largest portfolio company investment (1)						$	17,650					$	17,697
Total of five largest portfolio company investments (1)						$	80,092					$	80,215

(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, 2025:

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%						8.19%						12/2027						$	2,346					$	2,340					$	2,331
AG Parent Holdings, LLC						Healthcare						SOFR(Q)						5.00%						9.57%						07/2026						7,199						7,191						6,911
AmSpec Parent, LLC						Energy						SOFR(Q)						4.25%						8.55%						12/2031						5,754						5,725						5,754
Ardonagh Midco 3 Limited						Financial Services						SOFR(S)						2.75%						7.04%						02/2031						6,400						6,371						6,320
AssuredPartners, Inc						Business Services						SOFR(M)						3.50%						7.82%						02/2031						1,950						1,948						1,955
Aston FinCo S.a r.l.						Software						SOFR(M)						4.25%						8.69%						10/2026						5,700						5,685						5,447
Asurion, LLC						Business Services						SOFR(M)						4.25%						8.67%						08/2028						13,101						13,013						12,999
athenahealth Group Inc.						Healthcare						SOFR(M)						3.00%						7.32%						02/2029						6,773						6,592						6,714
Bach Finance Limited						Education						SOFR(S)						3.25%						7.50%						01/2032						2,123						2,119						2,125
Bayou Intermediate II, LLC						Healthcare						SOFR(Q)						4.50%						9.05%						08/2028						6,649						6,612						6,648
BCPE Empire Holdings, Inc.						Distribution & Logistics						SOFR(M)						3.25%						7.57%						12/2030						9,896						9,835						9,775
Bella Holding Company, LLC						Healthcare						SOFR(M)						3.25%						7.57%						05/2028						7,780						7,762						7,774
BIFM CA Buyer Inc.						Business Services						SOFR(M)						3.75%						8.07%						05/2028						3,571						3,534						3,577
Boxer Parent Company Inc.						Software						SOFR(Q)						3.00%						7.29%						07/2031						15,321						15,285						15,074
Bracket Intermediate Holding Corp.						Healthcare						SOFR(Q)						4.25%						8.55%						05/2028						14,075						13,790						14,137
BW Holding, Inc.						Packaging						SOFR(Q)						4.00%						8.46%						12/2028						2,735						2,593						2,285
Cardinal Parent, Inc.						Software						SOFR(Q)						4.50%						8.95%						11/2027						9,695						9,572						9,474
Chrysaor Bidco S.a r.l.						Information Services						SOFR(Q)						3.50%						7.79%						10/2031						2,126						2,126						2,133
Cloudera, Inc.						Software						SOFR(M)						3.75%						8.17%						10/2028						12,463						12,310						12,291
Clubessential, LLC						Software						SOFR (Q)						3.00%						7.29%						02/2032						4,713						4,713						4,687
Cohnreznick Advisory LLC						Business Services						SOFR(Q)						4.00%						8.29%						03/2032						5,312						5,285						5,312
CommerceHub, Inc.						Software						SOFR(Q)						6.25%						10.56%						12/2027						3,910						3,609						3,910
CommerceHub, Inc.						Software						SOFR(Q)						4.00%						8.46%						12/2027						6,863						6,810						6,666
Confluent Health, LLC						Healthcare						SOFR(M)						4.00%						8.44%						11/2028						4,640						4,626						4,408
Confluent Medical Technologies, Inc.						Healthcare						SOFR(Q)						3.25%						7.55%						02/2029						6,791						6,770						6,825
ConnectWise, LLC						Software						SOFR(Q)						3.50%						8.06%						09/2028						7,938						7,921						7,942
Convey Health Solutions, Inc.						Healthcare						SOFR(S)						1.00% + 4.25%/PIK						9.57%						07/2029						8,938						8,805						8,220
Cornerstone OnDemand, Inc.						Software						SOFR(M)						3.75%						8.19%						10/2028						2,553						2,546						2,236
CVET Midco 2, L.P.						Software						SOFR(Q)						5.00%						9.30%						10/2029						9,781						9,435						9,402
Dealer Tire Financial, LLC						Distribution & Logistics						SOFR(M)						3.00%						7.32%						07/2031						11,522						11,469						11,565
DG Investment Intermediate Holdings 2, Inc.						Business Services						SOFR(M)						3.75%						8.19%						03/2028						10,261						10,234						10,290
Discovery Purchaser Corporation						Specialty Chemicals & Materials						SOFR(Q)						3.75%						8.04%						10/2029						9,449						9,030						9,362
Dispatch Acquisition Holdings, LLC						Industrial Services						SOFR(Q)						4.25%						8.70%						03/2028						15,250						14,998						14,392
EAB Global, Inc.						Education						SOFR(M)						3.00%						7.32%						08/2030						2,809						2,791						2,735
Eagle Parent Corp.						Business Services						SOFR(Q)						4.25%						8.55%						04/2029						7,373						7,277						7,032
Eisner Advisory Group LLC						Financial Services						SOFR(M)						4.00%						8.32%						02/2031						8,610						8,552						8,616
Flash Charm, Inc.						Software						SOFR(Q)						3.50%						7.79%						03/2028						16,466						16,456						15,277
FNZ Group Entities Limited						Financial Services						SOFR(Q)						5.00%						9.29%						11/2031						10,255						10,056						9,537
Foundational Education Group, Inc.						Education						SOFR(Q)						3.75%						8.30%						08/2028						14,173						14,074						13,500
Groundworks, LLC						Business Services						SOFR(M)						3.00%						7.32%						03/2031						258						256						252
Groundworks, LLC						Business Services						SOFR(M)						3.00%						7.32%						03/2031						8,765						8,718						8,568
Heartland Dental, LLC						Healthcare						SOFR(M)						4.50%						8.82%						04/2028						14,001						13,623						13,992
Help/Systems Holdings, Inc.						Software						SOFR(Q)						4.00%						8.39%						11/2026						17,650						17,599						16,212
Higginbotham Insurance Agency, Inc.						Business Services						SOFR(M)						4.50%						8.83%						11/2028						8,874						8,836						8,874
Houghton Mifflin Harcourt Company						Education						SOFR(M)						5.25%						9.67%						04/2029						8,048						7,846						7,966
HP PHRG Borrower, LLC						Consumer Services						SOFR(Q)						4.00%						8.29%						02/2032						7,147						7,080						6,915
Inizio Group Limited						Healthcare						SOFR(Q)						4.25%						8.65%						08/2028						4,500						4,471						4,348

Portfolio Company and Type of Investment						Industry						Reference						Spread						Interest Rate (1)						Maturity Date						Principal Amount or Par Value						Cost						Fair Value (2)
Kaseya Inc.						Software						SOFR(M)						3.25%						7.57%						03/2032						$	5,140					$	5,115					$	5,114
Kestra Advisor Services Holdings A, Inc.						Financial Services						SOFR(Q)						3.00%						7.29%						03/2031						3,777						3,769						3,748
LI Group Holdings, Inc.						Software						SOFR(M)						3.50%						7.94%						03/2028						3,691						3,686						3,704
LSCS Holdings, Inc.						Healthcare						SOFR(Q)						4.50%						8.80%						03/2032						11,973						11,913						11,913
Marcel Bidco LLC (Marcel Bidco GmbH)						Software						SOFR(M)						3.50%						7.84%						11/2030						2,823						2,787						2,855
Maverick Bidco Inc.						Software						SOFR(Q)						5.00%						9.39%						05/2028						1,960						1,900						1,967
Maverick Bidco Inc.						Software						SOFR(Q)						3.75%						8.19%						05/2028						8,832						8,807						8,857
Maverick Bidco Inc.						Software						SOFR(Q)						4.25%						8.80%						05/2028						2,456						2,374						2,465
Mavis Tire Express Services Topco, Corp.						Retail						SOFR(Q)						3.00%						7.31%						05/2028						4,090						4,080						4,070
MED ParentCo, LP						Healthcare						SOFR(M)						3.50%						7.82%						04/2031						9,905						9,860						9,901
MH Sub I, LLC (Micro Holding Corp.)						Business Services						SOFR(M)						4.25%						8.57%						12/2031						9,834						9,737						9,038
MH Sub I, LLC (Micro Holding Corp.)						Business Services						SOFR(M)						4.25%						8.57%						05/2028						4,214						4,147						4,027
Michael Baker International, LLC						Business Services						SOFR(M)						4.00%						8.32%						12/2028						5,575						5,575						5,568
Nielsen Consumer Inc.						Business Services						SOFR(M)						3.50%						7.82%						03/2028						15,295						14,128						15,261
Oceankey (U.S.) II Corp.						Media						SOFR(Q)						3.50%						7.79%						12/2028						4,421						4,410						4,416
Osaic Holdings, Inc.						Financial Services						SOFR(M)						3.50%						7.82%						08/2028						11,539						11,430						11,461
Outcomes Group Holdings, Inc.						Healthcare						SOFR(Q)						3.25%						7.54%						05/2031						4,119						4,103						4,126
Peraton Corp.						Federal Services						SOFR(M)						3.75%						8.17%						02/2028						4,092						4,082						3,650
Perforce Software, Inc.						Software						SOFR(M)						4.75%						9.07%						03/2031						6,580						6,554						6,181
Physician Partners, LLC						Healthcare						SOFR(Q)						6.00%						10.30%						12/2029						2,379						2,311						2,220
Physician Partners, LLC						Healthcare						SOFR(Q)						1.50% + 2.50%/PIK						8.45%						12/2029						2,752						2,735						1,454
Plano Holdco, Inc.						Information Technology						SOFR(Q)						3.50%						7.80%						10/2031						4,625						4,603						4,694
Planview Parent, Inc.						Software						SOFR(Q)						3.50%						7.80%						12/2027						13,606						13,440						13,532
Project Alpha Intermediate Holding, Inc.						Software						SOFR(Q)						3.25%						7.55%						10/2030						13,608						13,377						13,744
Project Ruby Ultimate Parent Corp.						Healthcare						SOFR(M)						3.00%						7.44%						03/2028						2,269						2,263						2,264
Pushpay USA Inc.						Software						SOFR(Q)						4.00%						8.30%						08/2031						5,606						5,575						5,606
Quartz Holding Company						Software						SOFR(M)						3.50%						7.82%						10/2028						6,397						6,373						6,368
RealPage, Inc.						Software						SOFR(Q)						3.75%						8.05%						04/2028						5,000						4,977						5,010
RLG Holdings, LLC						Packaging						SOFR(M)						4.25%						8.69%						07/2028						5,654						5,639						5,173
RxB Holdings, Inc.						Healthcare						SOFR(M)						4.50%						8.94%						12/2027						6,258						6,192						6,259
RxB Holdings, Inc.						Healthcare						SOFR(M)						5.25%						9.57%						12/2027						2,637						2,594						2,637
Secretariat Advisors LLC						Business Services						SOFR(Q)						4.00%						8.29%						02/2032						8,505						8,463						8,484
Sierra Enterprises, LLC						Food & Beverage						SOFR(Q)						6.25%						10.54%						05/2027						2,534						2,533						2,534
Spring Education Group, Inc.						Education						SOFR(Q)						4.00%						8.30%						10/2030						13,264						13,136						13,263
Storable, Inc.						Software						SOFR(M)						3.25%						7.57%						04/2031						3,746						3,742						3,729
Summit Acquisition Inc.						Financial Services						SOFR(M)						3.75%						8.07%						10/2031						6,000						5,971						6,000
Symplr Software, Inc.						Healthcare						SOFR(Q)						4.50%						8.89%						12/2027						15,360						15,296						13,411
Syndigo LLC						Software						SOFR(Q)						4.50%						9.07%						12/2027						14,636						14,587						14,636
Therapy Brands Holdings LLC						Healthcare						SOFR(M)						4.00%						8.44%						05/2028						4,006						3,995						3,345
Thermostat Purchaser III, Inc.						Business Services						SOFR(Q)						4.25%						8.55%						08/2028						8,484						8,465						8,484
TMF Sapphire Bidco B.V.						Business Services						SOFR(Q)						2.75%						7.05%						05/2028						1,885						1,858						1,890
TRC Companies LLC						Business Services						SOFR(M)						3.00%						7.32%						12/2028						9,448						9,417						9,368
UKG Inc.						Software						SOFR(Q)						3.00%						7.30%						02/2031						5,798						5,793						5,795
Valcour Packaging, LLC						Packaging						SOFR(M)						5.25%						9.57%						10/2028						2,256						2,236						2,279
Valcour Packaging, LLC						Packaging						SOFR(M)						1.50% + 2.25%/PIK						8.19%						10/2028						3,122						3,122						2,668
Viant Medical Holdings, Inc.						Healthcare						SOFR(M)						4.00%						8.32%						10/2031						7,082						7,048						7,098
VSTG Intermediate Holdings, Inc.						Business Services						SOFR(Q)						3.75%						8.05%						07/2029						5,289						5,270						5,302
WatchGuard Technologies, Inc.						Software						SOFR(M)						5.25%						9.57%						07/2029						6,900						6,661						6,856

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%						8.56%						10/2028						$	14,073					$	14,052					$	13,422
Xplor T1, LLC						Software						SOFR(Q)						3.50%						7.80%						06/2031						5,573						5,547						5,613
Zest Acquisition Corp.						Healthcare						SOFR(Q)						5.25%						9.54%						02/2028						4,021						3,914						4,021
																																				$	705,596					$	697,931					$	688,246
Unfunded Investments - First lien
AmSpec Parent, LLC						Energy						—						—						—						12/2026						$	885					$	(2)					$	—
Chrysaor Bidco S.a r.l.						Information Services						—						—						—						07/2026						158						—						—
Cohnreznick Advisory LLC						Business Services						—						—						—						03/2027						1,230						(6)						—
DG Investment Intermediate Holdings 2, Inc.						Business Services						—						—						—						03/2026						246						(1)						1
Groundworks, LLC						Business Services						—						—						—						03/2026						1,365						(4)						(31)
Secretariat Advisors LLC						Business Services						—						—						—						02/2027						1,025						—						(3)
Total Unfunded Investments																																				$	4,909					$	(13)					$	(33)
Total Investments																																				$	710,505					$	697,918					$	688,213

(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 March 31, 2025.

(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, 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.

Below is certain summarized financial information for SLP III as of March 31, 2025 and December 31, 2024 and for the three months ended March 31, 2025 and March 31, 2024:

Selected Balance Sheet Information:			March 31, 2025						December 31, 2024
Investments at fair value (cost of $697,918 and $716,654)			$	688,213					$	715,096
Cash and other assets			24,858						20,988
Receivable from unsettled securities sold			14,241						9,652
Total assets			$	727,312					$	745,736
Credit facility			$	477,700					$	511,200
Deferred financing costs (net of accumulated amortization of $6,827 and $6,515, respectively)			(3,380)						(3,692)
Payable for unsettled securities purchased			51,283						27,428
Distribution payable			7,250						7,625
Other liabilities			7,132						7,493
Total liabilities			539,985						550,054
Members' capital			$	187,327					$	195,682
Total liabilities and members' capital			$	727,312					$	745,736

Selected Statement of Operations Information:			Three Months Ended
			March 31, 2025						March 31, 2024
Interest income			$	15,131					$	16,789
Other income			76						27
Total investment income			15,207						16,816
Interest and other financing expenses			8,180						8,790
Other expenses			306						241
Total expenses			8,486						9,031
Net investment income			6,721						7,785
Net realized gains (losses) on investments			321						(5,669)
Net change in unrealized (depreciation) appreciation of investments			(8,147)						10,723
Net (decrease) increase in members' capital			$	(1,105)					$	12,839

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, 2025 and December 31, 2024:

						March 31, 2025						December 31, 2024
First lien investments (1)						$	467,692					$	481,040
Weighted average interest rate on first lien investments (2)						8.38		%				8.54		%
Number of portfolio companies in SLP IV						79						79
Largest portfolio company investment (1)						$	18,015					$	17,933
Total of five largest portfolio company investments (1)						$	66,265					$	62,752

(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, 2025:

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						8.45%						09/2026						$	18,015					$	18,011					$	15,545
ADMI Corp. (aka Aspen Dental)						Healthcare						SOFR(M)						3.75%						8.19%						12/2027						1,809						1,805						1,798
AmSpec Parent, LLC						Energy						SOFR(Q)						4.25%						8.55%						12/2031						2,986						2,971						2,986
Asurion, LLC						Business Services						SOFR(M)						4.25%						8.67%						08/2028						9,667						9,603						9,592
athenahealth Group Inc.						Healthcare						SOFR(M)						3.00%						7.32%						02/2029						2,349						2,342						2,329
Bach Finance Limited						Education						SOFR(S)						3.25%						7.50%						01/2032						1,607						1,603						1,608
Bayou Intermediate II, LLC						Healthcare						SOFR(Q)						4.50%						9.05%						08/2028						8,834						8,803						8,834
BCPE Empire Holdings, Inc.						Distribution & Logistics						SOFR(M)						3.25%						7.57%						12/2030						5,285						5,250						5,221
Bella Holding Company, LLC						Healthcare						SOFR(M)						3.25%						7.57%						05/2028						743						742						742
BIFM CA Buyer Inc.						Business Services						SOFR(M)						3.75%						8.07%						05/2028						2,703						2,675						2,707
Boxer Parent Company Inc.						Software						SOFR(Q)						3.00%						7.29%						07/2031						10,440						10,418						10,271
Bracket Intermediate Holding Corp.						Healthcare						SOFR(Q)						4.25%						8.55%						05/2028						4,339						4,251						4,358
BW Holding, Inc.						Packaging						SOFR(Q)						4.00%						8.46%						12/2028						2,019						1,913						1,686
Chrysaor Bidco S.a r.l.						Information Services						SOFR(Q)						3.50%						7.79%						10/2031						1,569						1,569						1,574
Cloudera, Inc.						Software						SOFR(M)						3.75%						8.17%						10/2028						9,298						9,182						9,170
Cohnreznick Advisory LLC						Business Services						SOFR(Q)						4.00%						8.29%						03/2032						3,676						3,658						3,676
CommerceHub, Inc.						Software						SOFR(Q)						6.25%						10.56%						12/2027						538						538						538
CommerceHub, Inc.						Software						SOFR(Q)						4.00%						8.46%						12/2027						4,057						3,926						3,940
Confluence Technologies, Inc.						Software						SOFR(Q)						3.75%						8.20%						07/2028						9,675						9,649						8,629
Confluence Technologies, Inc.						Software						SOFR(Q)						5.00%						9.29%						07/2028						943						943						943
Confluent Health, LLC						Healthcare						SOFR(M)						4.00%						8.44%						11/2028						3,106						3,097						2,951
Confluent Medical Technologies, Inc.						Healthcare						SOFR(Q)						3.25%						7.55%						02/2029						6,791						6,770						6,825
Convey Health Solutions, Inc.						Healthcare						SOFR(S)						1.00% + 4.25%/PIK						9.57%						07/2029						3,437						3,387						3,161
Cornerstone OnDemand, Inc.						Software						SOFR(M)						3.75%						8.19%						10/2028						1,823						1,818						1,597
CVET Midco 2, L.P.						Software						SOFR(Q)						5.00%						9.30%						10/2029						6,573						6,432						6,318
Dealer Tire Financial, LLC						Distribution & Logistics						SOFR(M)						3.00%						7.32%						07/2031						10,454						10,406						10,493
Discovery Purchaser Corporation						Specialty Chemicals & Materials						SOFR(Q)						3.75%						8.04%						10/2029						5,788						5,475						5,734
Dispatch Acquisition Holdings, LLC						Industrial Services						SOFR(Q)						4.25%						8.70%						03/2028						9,649						9,584						9,106
EAB Global, Inc.						Education						SOFR(M)						3.00%						7.32%						08/2030						993						987						966
Eagle Parent Corp.						Business Services						SOFR(Q)						4.25%						8.55%						04/2029						7,386						7,297						7,044
Eisner Advisory Group LLC						Financial Services						SOFR(M)						4.00%						8.32%						02/2031						5,014						4,969						5,017
Flash Charm, Inc.						Software						SOFR(Q)						3.50%						7.79%						03/2028						10,031						9,990						9,306
FNZ Group Entities Limited						Financial Services						SOFR(Q)						5.00%						9.29%						11/2031						7,270						7,129						6,762
Foundational Education Group, Inc.						Education						SOFR(Q)						3.75%						8.30%						08/2028						11,015						10,917						10,492
Groundworks, LLC						Business Services						SOFR(M)						3.00%						7.32%						03/2031						121						120						118
Groundworks, LLC						Business Services						SOFR(M)						3.00%						7.32%						03/2031						4,093						4,056						4,000
Heartland Dental, LLC						Healthcare						SOFR(M)						4.50%						8.82%						04/2028						9,985						9,784						9,979
Help/Systems Holdings, Inc.						Software						SOFR(Q)						4.00%						8.39%						11/2026						9,581						9,569						8,800
Houghton Mifflin Harcourt Company						Education						SOFR(M)						5.25%						9.67%						04/2029						6,231						6,075						6,167
HP PHRG Borrower, LLC						Consumer Services						SOFR(Q)						4.00%						8.29%						02/2032						5,103						5,055						4,937
Inizio Group Limited						Healthcare						SOFR(Q)						4.25%						8.65%						08/2028						3,949						3,927						3,816
Kaseya Inc.						Software						SOFR(M)						3.25%						7.57%						03/2032						3,557						3,540						3,539
Kestra Advisor Services Holdings A, Inc.						Financial Services						SOFR(Q)						3.00%						7.29%						03/2031						1,292						1,289						1,282
LSCS Holdings, Inc.						Healthcare						SOFR(Q)						4.50%						8.80%						03/2032						9,774						9,725						9,725
Marcel Bidco LLC (Marcel Bidco GmbH)						Software						SOFR(M)						3.50%						7.84%						11/2030						2,029						2,003						2,052
Maverick Bidco Inc.						Software						SOFR(Q)						5.00%						9.39%						05/2028						1,960						1,900						1,966
Maverick Bidco Inc.						Software						SOFR(Q)						3.75%						8.19%						05/2028						7,740						7,721						7,762

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(Q)						3.00%						7.31%						05/2028						$	8,180					$	8,157					$	8,140
MED ParentCo, LP						Healthcare						SOFR(M)						3.50%						7.82%						04/2031						7,309						7,276						7,306
MH Sub I, LLC (Micro Holding Corp.)						Business Services						SOFR(M)						4.25%						8.57%						12/2031						5,443						5,389						5,002
MH Sub I, LLC (Micro Holding Corp.)						Business Services						SOFR(M)						4.25%						8.57%						05/2028						3,620						3,561						3,460
Michael Baker International, LLC						Business Services						SOFR(M)						4.00%						8.32%						12/2028						3,858						3,858						3,854
Nielsen Consumer Inc.						Business Services						SOFR(M)						3.50%						7.82%						03/2028						14,000						13,230						13,969
Oceankey (U.S.) II Corp.						Media						SOFR(Q)						3.50%						7.79%						12/2028						3,060						3,052						3,056
Osaic Holdings, Inc.						Financial Services						SOFR(M)						3.50%						7.82%						08/2028						11,403						11,321						11,326
Outcomes Group Holdings, Inc.						Healthcare						SOFR(Q)						3.25%						7.54%						05/2031						2,850						2,840						2,855
Perforce Software, Inc.						Software						SOFR(M)						4.75%						9.07%						03/2031						4,856						4,836						4,562
Physician Partners, LLC						Healthcare						SOFR(Q)						6.00%						10.30%						12/2029						1,798						1,747						1,678
Physician Partners, LLC						Healthcare						SOFR(Q)						1.50% + 2.50%/PIK						8.45%						12/2029						2,080						2,067						1,099
Planview Parent, Inc.						Software						SOFR(Q)						3.50%						7.80%						12/2027						2,992						2,985						2,976
Project Alpha Intermediate Holding, Inc.						Software						SOFR(Q)						3.25%						7.55%						10/2030						9,781						9,615						9,879
Project Ruby Ultimate Parent Corp.						Healthcare						SOFR(M)						3.00%						7.44%						03/2028						973						969						971
Pushpay USA Inc.						Software						SOFR(Q)						4.00%						8.30%						08/2031						3,990						3,990						3,990
Quartz Holding Company						Software						SOFR(M)						3.50%						7.82%						10/2028						4,841						4,823						4,820
RealPage, Inc.						Software						SOFR(Q)						3.75%						8.05%						04/2028						2,000						1,991						2,004
RxB Holdings, Inc.						Healthcare						SOFR(M)						4.50%						8.94%						12/2027						7,268						7,250						7,268
Secretariat Advisors LLC						Business Services						SOFR(Q)						4.00%						8.29%						02/2032						5,886						5,857						5,871
Sierra Enterprises, LLC						Food & Beverage						SOFR(Q)						6.25%						10.54%						05/2027						4,439						4,435						4,439
Spring Education Group, Inc.						Education						SOFR(Q)						4.00%						8.30%						10/2030						10,232						10,132						10,232
STATS Intermediate Holdings, LLC						Business Services						SOFR(Q)						5.25%						9.83%						07/2026						3,974						3,896						3,855
STATS Intermediate Holdings, LLC						Business Services						SOFR(Q)						7.25%						11.83%						07/2026						2,243						2,206						2,243
Storable, Inc.						Software						SOFR(M)						3.25%						7.57%						04/2031						3,880						3,875						3,862
Symplr Software, Inc.						Healthcare						SOFR(Q)						4.50%						8.89%						12/2027						3,678						3,673						3,212
Syndigo LLC						Software						SOFR(Q)						4.50%						9.07%						12/2027						9,772						9,764						9,772
Therapy Brands Holdings LLC						Healthcare						SOFR(M)						4.00%						8.44%						05/2028						5,892						5,876						4,920
Thermostat Purchaser III, Inc.						Business Services						SOFR(Q)						4.25%						8.55%						08/2028						5,634						5,620						5,634
TRC Companies LLC						Business Services						SOFR(M)						3.00%						7.32%						12/2028						5,372						5,355						5,327
Valcour Packaging, LLC						Packaging						SOFR(M)						5.25%						9.57%						10/2028						1,641						1,626						1,658
Valcour Packaging, LLC						Packaging						SOFR(M)						1.50% + 2.25%/PIK						8.19%						10/2028						2,271						2,271						1,941
Viant Medical Holdings, Inc.						Healthcare						SOFR(M)						4.00%						8.32%						10/2031						2,494						2,482						2,499
VSTG Intermediate Holdings, Inc.						Business Services						SOFR(Q)						3.75%						8.05%						07/2029						3,948						3,934						3,958
VT Topco, Inc.						Business Services						SOFR(Q)						3.00%						7.30%						08/2030						5,710						5,662						5,714
WatchGuard Technologies, Inc.						Software						SOFR(M)						5.25%						9.57%						07/2029						3,989						3,806						3,963
Wrench Group LLC						Consumer Services						SOFR(Q)						4.00%						8.56%						10/2028						9,277						9,251						8,848
Xplor T1, LLC						Software						SOFR(Q)						3.50%						7.80%						06/2031						4,055						4,036						4,084
Zest Acquisition Corp.						Healthcare						SOFR(Q)						5.25%						9.54%						02/2028						3,102						3,027						3,102
Zone Climate Services, Inc.						Business Services						SOFR(Q)						5.50%						9.94%						03/2028						9,700						9,592						9,623
Zone Climate Services, Inc.						Business Services						SOFR(Q)						5.50%						9.94%						03/2028						2,132						2,109						2,115
Total Funded Investments																																				$	464,920					$	460,316					$	451,149
Unfunded Investments - First lien
AmSpec Parent, LLC						Energy						—						—						—						12/2026						$	459					$	(1)					$	—
Chrysaor Bidco S.a r.l.						Information Services						—						—						—						07/2026						116						—						—
Cohnreznick Advisory LLC						Business Services						—						—						—						03/2027						851						(4)						—
Groundworks, LLC						Business Services						—						—						—						03/2026						637						(3)						(14)
Secretariat Advisors LLC						Business Services						—						—						—						02/2027						709						—						(2)
Total Unfunded Investments																																				$	2,772					$	(8)					$	(16)
Total Investments																																				$	467,692					$	460,308					$	451,133

(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 March 31, 2025.

(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, 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.

Below is certain summarized consolidated financial information for SLP IV as of March 31, 2025 and December 31, 2024 and for the three months ended March 31, 2025 and March 31, 2024:

Selected Consolidated Balance Sheet Information:			March 31, 2025						December 31, 2024
Investments at fair value (cost of $460,308 and $474,738, respectively)			$	451,133					$	469,326
Cash and other assets			32,585						15,401
Receivable from unsettled securities sold			17,224						7,232
Total assets			$	500,942					$	491,959
Credit facility			$	323,437					$	334,437
Deferred financing costs (net of accumulated amortization of $2,898 and $2,616, respectively)			(2,807)						(3,088)
Payable for unsettled securities purchased			38,393						13,485
Distribution payable			5,005						5,184
Other liabilities			5,307						6,090
Total liabilities			369,335						356,108
Members' capital			$	131,607					$	135,851
Total liabilities and members' capital			$	500,942					$	491,959

Selected Consolidated Statement of Operations Information:			Three Months Ended
			March 31, 2025						March 31, 2024
Interest income			$	10,077					$	11,962
Other income			30						21
Total investment income			10,107						11,983
Interest and other financing expenses			5,132						6,100
Other expenses			222						224
Total expenses			5,354						6,324
Net investment income			4,753						5,659
Net realized losses on investments			(229)						(4,698)
Net change in unrealized (depreciation) appreciation of investments			(3,763)						6,928
Net increase in members' capital			$	761					$	7,889

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))
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- 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
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-Name Accounting Standards Codification
-Section 50
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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