UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2013
OR
o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period to
Commission File No. 814-00663
ARES CAPITAL CORPORATION
(Exact name of Registrant as specified in its charter)
Maryland |
|
33-1089684 |
(State or other jurisdiction of |
|
(I.R.S. Employer |
incorporation or organization) |
|
Identification Number) |
245 Park Avenue, 44th Floor, New York, NY 10167
(Address of principal executive office) (Zip Code)
(212) 750-7300
(Registrants telephone number, including area code)
N/A
(Former name, former address and former fiscal year, if changed since last report)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days: Yes x No o
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes o No o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of large accelerated filer, accelerated filer, and smaller reporting company in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer x |
|
Accelerated filer o |
|
|
|
Non-accelerated filer o |
|
Smaller reporting company o |
(Do not check if a smaller reporting company) |
|
|
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No x
Indicate the number of shares outstanding of each of the issuers classes of common stock, as of the latest practicable date.
Class |
|
Outstanding at May 6, 2013 |
Common stock, $0.001 par value |
|
268,043,157 |
ARES CAPITAL CORPORATION
Part I. |
Financial Information |
|
|
|
|
Item 1. |
Financial Statements |
|
|
|
|
|
Consolidated Balance Sheet as of March 31, 2013 (unaudited) and December 31, 2012 |
2 |
|
|
|
|
3 | |
|
|
|
|
Consolidated Schedule of Investments as of March 31, 2013 (unaudited) and December 31, 2012 |
4 |
|
|
|
|
Consolidated Statement of Stockholders Equity for the three months ended March 31, 2013 (unaudited) |
34 |
|
|
|
|
35 | |
|
|
|
|
36 | |
|
|
|
Managements Discussion and Analysis of Financial Condition and Results of Operations |
59 | |
|
|
|
78 | ||
|
|
|
79 | ||
|
|
|
| ||
|
|
|
80 | ||
|
|
|
80 | ||
|
|
|
80 | ||
|
|
|
80 | ||
|
|
|
80 | ||
|
|
|
80 | ||
|
|
|
80 |
ARES CAPITAL CORPORATION AND SUBSIDIARIES
(in thousands, except per share data)
|
|
As of |
| ||||
|
|
March 31, 2013 |
|
December 31, 2012 |
| ||
|
|
(unaudited) |
|
|
| ||
ASSETS |
|
|
|
|
| ||
Investments at fair value |
|
|
|
|
| ||
Non-controlled/non-affiliate investments |
|
$ |
3,982,686 |
|
$ |
3,822,715 |
|
Non-controlled affiliate company investments |
|
290,932 |
|
323,059 |
| ||
Controlled affiliate company investments |
|
1,756,841 |
|
1,778,781 |
| ||
Total investments at fair value (amortized cost of $5,959,788 and $5,823,451, respectively) |
|
6,030,459 |
|
5,924,555 |
| ||
Cash and cash equivalents |
|
102,451 |
|
269,043 |
| ||
Receivable for open trades |
|
50 |
|
131 |
| ||
Interest receivable |
|
115,991 |
|
108,998 |
| ||
Other assets |
|
104,111 |
|
98,497 |
| ||
Total assets |
|
$ |
6,353,062 |
|
$ |
6,401,224 |
|
LIABILITIES |
|
|
|
|
| ||
Debt |
|
$ |
2,179,127 |
|
$ |
2,195,872 |
|
Management and incentive fees payable |
|
112,600 |
|
131,585 |
| ||
Accounts payable and other liabilities |
|
49,262 |
|
53,178 |
| ||
Interest and facility fees payable |
|
27,976 |
|
30,603 |
| ||
Payable for open trades |
|
5,500 |
|
1,640 |
| ||
Total liabilities |
|
2,374,465 |
|
2,412,878 |
| ||
Commitments and contingencies (Note 6) |
|
|
|
|
| ||
STOCKHOLDERS EQUITY |
|
|
|
|
| ||
Common stock, par value $.001 per share, 500,000 common shares authorized 248,896 and 248,653 common shares issued and outstanding, respectively |
|
249 |
|
249 |
| ||
Capital in excess of par value |
|
4,121,914 |
|
4,117,517 |
| ||
Accumulated overdistributed net investment income |
|
(23,301 |
) |
(27,910 |
) | ||
Accumulated net realized loss on investments, foreign currency transactions, extinguishment of debt and other assets |
|
(190,936 |
) |
(202,614 |
) | ||
Net unrealized gain on investments |
|
70,671 |
|
101,104 |
| ||
Total stockholders equity |
|
3,978,597 |
|
3,988,346 |
| ||
Total liabilities and stockholders equity |
|
$ |
6,353,062 |
|
$ |
6,401,224 |
|
NET ASSETS PER SHARE |
|
$ |
15.98 |
|
$ |
16.04 |
|
See accompanying notes to consolidated financial statements.
ARES CAPITAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF OPERATIONS
(in thousands, except per share data)
|
|
For the three months ended |
| ||||
|
|
March 31, 2013 |
|
March 31, 2012 |
| ||
|
|
(unaudited) |
|
(unaudited) |
| ||
INVESTMENT INCOME: |
|
|
|
|
| ||
From non-controlled/non-affiliate company investments: |
|
|
|
|
| ||
Interest income from investments |
|
$ |
85,122 |
|
$ |
72,168 |
|
Capital structuring service fees |
|
4,104 |
|
7,877 |
| ||
Dividend income |
|
4,024 |
|
3,802 |
| ||
Management and other fees |
|
4,498 |
|
328 |
| ||
Other income |
|
2,011 |
|
2,748 |
| ||
Total investment income from non-controlled/non-affiliate company investments |
|
99,759 |
|
86,923 |
| ||
|
|
|
|
|
| ||
From non-controlled affiliate company investments: |
|
|
|
|
| ||
Interest income from investments |
|
6,016 |
|
4,592 |
| ||
Dividend income |
|
603 |
|
316 |
| ||
Management and other fees |
|
|
|
63 |
| ||
Other income |
|
91 |
|
25 |
| ||
Total investment income from non-controlled affiliate company investments |
|
6,710 |
|
4,996 |
| ||
|
|
|
|
|
| ||
From controlled affiliate company investments: |
|
|
|
|
| ||
Interest income from investments |
|
53,039 |
|
56,125 |
| ||
Capital structuring service fees |
|
1,887 |
|
9,783 |
| ||
Dividend income |
|
27,462 |
|
5,101 |
| ||
Management and other fees |
|
|
|
4,541 |
| ||
Other income |
|
6,198 |
|
269 |
| ||
Total investment income from controlled affiliate company investments |
|
88,586 |
|
75,819 |
| ||
|
|
|
|
|
| ||
Total investment income |
|
195,055 |
|
167,738 |
| ||
|
|
|
|
|
| ||
EXPENSES: |
|
|
|
|
| ||
Interest and credit facility fees |
|
39,347 |
|
32,776 |
| ||
Base management fees |
|
23,218 |
|
19,986 |
| ||
Incentive fees |
|
20,085 |
|
26,386 |
| ||
Professional fees |
|
3,144 |
|
3,686 |
| ||
Administrative fees |
|
2,592 |
|
2,320 |
| ||
Other general and administrative |
|
3,768 |
|
2,801 |
| ||
Total expenses |
|
92,154 |
|
87,955 |
| ||
|
|
|
|
|
| ||
NET INVESTMENT INCOME BEFORE INCOME TAXES |
|
102,901 |
|
79,783 |
| ||
|
|
|
|
|
| ||
Income tax expense, including excise tax |
|
3,804 |
|
2,745 |
| ||
|
|
|
|
|
| ||
NET INVESTMENT INCOME |
|
99,097 |
|
77,038 |
| ||
|
|
|
|
|
| ||
REALIZED AND UNREALIZED NET GAINS (LOSSES) ON INVESTMENTS: |
|
|
|
|
| ||
Net realized gains (losses): |
|
|
|
|
| ||
Non-controlled/non-affiliate company investments |
|
10,651 |
|
462 |
| ||
Non-controlled affiliate company investments |
|
17 |
|
3 |
| ||
Controlled affiliate company investments |
|
1,010 |
|
(8,136 |
) | ||
Net realized gains (losses) |
|
11,678 |
|
(7,671 |
) | ||
|
|
|
|
|
| ||
Net unrealized gains (losses): |
|
|
|
|
| ||
Non-controlled/non-affiliate company investments |
|
5,949 |
|
6,017 |
| ||
Non-controlled affiliate company investments |
|
(1,353 |
) |
10,093 |
| ||
Controlled affiliate company investments |
|
(35,029 |
) |
20,070 |
| ||
Net unrealized gains (losses) |
|
(30,433 |
) |
36,180 |
| ||
|
|
|
|
|
| ||
Net realized and unrealized gains (losses) on investments |
|
(18,755 |
) |
28,509 |
| ||
NET INCREASE IN STOCKHOLDERS EQUITY RESULTING FROM OPERATIONS |
|
$ |
80,342 |
|
$ |
105,547 |
|
BASIC AND DILUTED EARNINGS PER COMMON SHARE (see Note 9) |
|
$ |
0.32 |
|
$ |
0.49 |
|
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING BASIC AND DILUTED (see Note 9) |
|
248,658 |
|
217,044 |
|
See accompanying notes to consolidated financial statements.
ARES CAPITAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
As of March 31, 2013
(dollar amounts in thousands)
(unaudited)
Company(1) |
|
Business Description |
|
Investment |
|
Interest(5)(11) |
|
Acquisition |
|
Amortized |
|
Fair Value |
|
Percentage |
| ||
Investment Funds and Vehicles |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
AGILE Fund I, LLC (9) |
|
Investment partnership |
|
Member interest (0.50% interest) |
|
|
|
4/1/2010 |
|
$ |
122 |
|
$ |
27 |
(2) |
|
|
CIC Flex, LP (9) |
|
Investment partnership |
|
Limited partnership units (0.94 unit) |
|
|
|
9/7/2007 |
|
1,050 |
|
2,120 |
(2) |
|
| ||
Covestia Capital Partners, LP (9) |
|
Investment partnership |
|
Limited partnership interest (47.00% interest) |
|
|
|
6/17/2008 |
|
1,059 |
|
1,170 |
(2) |
|
| ||
Dynamic India Fund IV, LLC (9) |
|
Investment company |
|
Member interest (5.44% interest) |
|
|
|
4/1/2010 |
|
4,822 |
|
2,962 |
|
|
| ||
HCI Equity, LLC (7)(8)(9) |
|
Investment company |
|
Member interest (100.00% interest) |
|
|
|
4/1/2010 |
|
452 |
|
426 |
|
|
| ||
Imperial Capital Private Opportunities, LP (9) |
|
Investment partnership |
|
Limited partnership interest (80.00% interest) |
|
|
|
5/10/2007 |
|
5,971 |
|
10,037 |
(2) |
|
| ||
Partnership Capital Growth Fund I, L.P. (9) |
|
Investment partnership |
|
Limited partnership interest (25.00% interest) |
|
|
|
6/16/2006 |
|
1,596 |
|
4,059 |
(2) |
|
| ||
Partnership Capital Growth Fund III, L.P. (9) |
|
Investment partnership |
|
Limited partnership interest (2.50% interest) |
|
|
|
10/5/2011 |
|
2,379 |
|
2,341 |
(2) |
|
| ||
Piper Jaffray Merchant Banking Fund I, L.P. (9) |
|
Investment partnership |
|
Limited partnership interest (2.00% interest) |
|
|
|
8/16/2012 |
|
389 |
|
341 |
(2) |
|
| ||
Senior Secured Loan Fund LLC (7)(10) |
|
Co-investment vehicle |
|
Subordinated certificates ($1,250,904 par due 12/2022) |
|
8.31% (Libor + 8.00%/Q)(22) |
|
10/30/2009 |
|
1,244,833 |
|
1,269,667 |
|
|
| ||
VSC Investors LLC (9) |
|
Investment company |
|
Membership interest (1.95% interest) |
|
|
|
1/24/2008 |
|
661 |
|
1,197 |
(2) |
|
| ||
|
|
|
|
|
|
|
|
|
|
1,263,332 |
|
1,294,347 |
|
32.53 |
% | ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Healthcare-Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
California Forensic Medical Group, Incorporated |
|
Correctional facility healthcare operator |
|
Senior secured loan ($54,047 par due 11/2018) |
|
9.25% (Libor + 8.00%/Q) |
|
11/16/2012 |
|
54,047 |
|
54,047 |
(3)(21) |
|
| ||
CCS Group Holdings, LLC |
|
Correctional facility healthcare operator |
|
Class A units (601,937 units) |
|
|
|
8/19/2010 |
|
602 |
|
1,293 |
(2) |
|
| ||
CT Technologies Intermediate Holdings, Inc. and CT Technologies Holdings LLC (6) |
|
Healthcare analysis services |
|
Senior secured loan ($7,546 par due 3/2017) |
|
7.75% (Libor + 6.50%/Q) |
|
3/15/2011 |
|
7,546 |
|
7,471 |
(2)(21) |
|
| ||
|
|
|
|
Senior secured loan ($7,154 par due 3/2017) |
|
7.75% (Libor + 6.50%/Q) |
|
3/15/2011 |
|
7,154 |
|
7,082 |
(3)(21) |
|
| ||
|
|
|
|
Class A common stock (9,679 shares) |
|
|
|
6/15/2007 |
|
4,000 |
|
4,931 |
(2) |
|
| ||
|
|
|
|
Class C common stock (1,546 shares) |
|
|
|
6/15/2007 |
|
|
|
1,359 |
(2) |
|
| ||
|
|
|
|
|
|
|
|
|
|
18,700 |
|
20,843 |
|
|
| ||
INC Research, Inc. |
|
Pharmaceutical and biotechnology consulting services |
|
Common stock (1,410,000 shares) |
|
|
|
9/27/2010 |
|
1,512 |
|
996 |
(2) |
|
| ||
Intermedix Corporation |
|
Revenue cycle management provider to the emergency healthcare industry |
|
Junior secured loan ($112,000 par due 6/2019) |
|
10.25% (Libor + 9.00%/Q) |
|
12/27/2012 |
|
112,000 |
|
112,000 |
(2)(21) |
|
| ||
JHP Group Holdings, Inc. |
|
Manufacturer of specialty pharmaceutical products |
|
Series A preferred stock (1,000,000 shares) |
|
6.00% PIK |
|
2/19/2013 |
|
1,000 |
|
1,000 |
(2) |
|
| ||
Magnacare Holdings, Inc., Magnacare Administrative Services, LLC, and Magnacare, LLC |
|
Healthcare professional provider |
|
Senior secured loan ($69,971 par due 3/2018) |
|
9.75% (Libor + 8.75%/Q) |
|
9/15/2010 |
|
69,971 |
|
69,971 |
(2)(21) |
|
| ||
|
|
|
|
Senior secured loan ($57,900 par due 3/2018) |
|
9.75% (Libor + 8.75%/Q) |
|
9/15/2010 |
|
57,900 |
|
57,900 |
(3)(21) |
|
| ||
|
|
|
|
Senior secured loan ($4,825 par due 3/2018) |
|
9.75% (Libor + 8.75%/Q) |
|
3/16/2012 |
|
4,825 |
|
4,825 |
(4)(21) |
|
| ||
|
|
|
|
|
|
|
|
|
|
132,696 |
|
132,696 |
|
|
| ||
MW Dental Holding Corp. |
|
Dental services |
|
Senior secured revolving loan ($3,500 par due 4/2017) |
|
8.50% (Libor + 7.00%/M) |
|
4/12/2011 |
|
3,500 |
|
3,500 |
(2)(21) |
|
| ||
|
|
|
|
Senior secured loan ($54,885 par due 4/2017) |
|
8.50% (Libor + 7.00%/M) |
|
4/12/2011 |
|
54,885 |
|
54,885 |
(2)(21) |
|
| ||
|
|
|
|
Senior secured loan ($49,129 par due 4/2017) |
|
8.50% (Libor + 7.00%/M) |
|
4/12/2011 |
|
49,129 |
|
49,129 |
(3)(21) |
|
| ||
|
|
|
|
Senior secured loan ($9,875 par due 4/2017) |
|
8.50% (Libor + 7.00%/M) |
|
4/12/2011 |
|
9,875 |
|
9,875 |
(4)(21) |
|
| ||
|
|
|
|
|
|
|
|
|
|
117,389 |
|
117,389 |
|
|
| ||
Napa Management Services |
|
Anesthesia management |
|
Senior secured loan |
|
6.50% (Libor + |
|
4/15/2011 |
|
23,674 |
|
23,674 |
(2)(21) |
|
| ||
As of March 31, 2013
(dollar amounts in thousands)
(unaudited)
Company(1) |
|
Business Description |
|
Investment |
|
Interest(5)(11) |
|
Acquisition |
|
Amortized |
|
Fair Value |
|
Percentage |
|
Corporation |
|
services provider |
|
($23,674 par due 4/2018) |
|
5.25%/Q) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Senior secured loan ($33,518 par due 4/2018) |
|
6.50% (Libor + 5.25%/Q) |
|
4/15/2011 |
|
33,445 |
|
33,518 |
(3)(21) |
|
|
|
|
|
|
Common units (5,000 units) |
|
|
|
4/15/2011 |
|
5,000 |
|
6,324 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
62,119 |
|
63,516 |
|
|
|
Netsmart Technologies, Inc. and NS Holdings, Inc. |
|
Healthcare technology provider |
|
Senior secured loan ($39,844 par due 12/2017) |
|
7.25% (Libor + 6.00%/Q) |
|
12/18/2012 |
|
39,844 |
|
39,844 |
(2)(18)(21) |
|
|
|
|
|
|
Senior secured loan ($18 par due 12/2017) |
|
8.25% (Base Rate + 5.00%/Q) |
|
12/18/2012 |
|
18 |
|
18 |
(2)(18)(21) |
|
|
|
|
|
|
Senior secured loan ($232 par due 12/2017) |
|
8.25% (Base Rate + 5.00%/Q) |
|
12/18/2012 |
|
232 |
|
232 |
(2)(18)(21) |
|
|
|
|
|
|
Common stock (2,500,000 shares) |
|
|
|
6/21/2010 |
|
2,500 |
|
3,106 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
42,594 |
|
43,200 |
|
|
|
OnCURE Medical Corp. |
|
Radiation oncology care provider |
|
Common stock (857,143 shares) |
|
|
|
8/18/2006 |
|
3,000 |
|
|
(2) |
|
|
Passport Health Communications, Inc., Passport Holding Corp. and Prism Holding Corp. |
|
Healthcare technology provider |
|
Series A preferred stock (1,594,457 shares) |
|
|
|
7/30/2008 |
|
11,156 |
|
12,388 |
(2) |
|
|
|
|
|
|
Common stock (16,106 shares) |
|
|
|
7/30/2008 |
|
100 |
|
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
11,256 |
|
12,388 |
|
|
|
PG Mergersub, Inc. and PGA Holdings, Inc. |
|
Provider of patient surveys, management reports and national databases for the integrated healthcare delivery system |
|
Junior secured loan ($45,000 par due 10/2018) |
|
8.25% (Libor + 7.00%/Q) |
|
4/19/2012 |
|
45,000 |
|
45,000 |
(2)(21) |
|
|
|
|
|
|
Preferred stock (333 shares) |
|
|
|
3/12/2008 |
|
125 |
|
14 |
(2) |
|
|
|
|
|
|
Common stock (16,667 shares) |
|
|
|
3/12/2008 |
|
167 |
|
703 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
45,292 |
|
45,717 |
|
|
|
RCHP, Inc. |
|
Operator of general acute care hospitals |
|
Senior secured loan ($9,975 par due 11/2018) |
|
7.00% (Libor + 5.75%/Q) |
|
11/4/2011 |
|
9,950 |
|
9,975 |
(2)(21) |
|
|
|
|
|
|
Junior secured loan ($65,000 par due 5/2019) |
|
11.50% (Libor + 10.00%/S) |
|
11/4/2011 |
|
65,000 |
|
65,000 |
(2)(21) |
|
|
|
|
|
|
|
|
|
|
|
|
74,950 |
|
74,975 |
|
|
|
Reed Group, Ltd. |
|
Medical disability management services provider |
|
Equity interests |
|
|
|
4/1/2010 |
|
|
|
|
(2) |
|
|
Respicardia, Inc. |
|
Developer of implantable therapies to improve cardiovascular health |
|
Senior secured loan ($5,600 par due 7/2015) |
|
11.00% |
|
6/28/2012 |
|
5,574 |
|
5,600 |
(2) |
|
|
|
|
|
|
Warrants to purchase up to 99,094 shares of Series C preferred stock |
|
|
|
6/26/2012 |
|
38 |
|
30 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
5,612 |
|
5,630 |
|
|
|
Sage Products Holdings III, LLC |
|
Patient infection control and preventive care solutions provider |
|
Junior secured loan ($75,000 par due 6/2020) |
|
9.25% (Libor + 8.00%/Q) |
|
12/13/2012 |
|
75,000 |
|
75,000 |
(2)(21) |
|
|
Soteria Imaging Services, LLC (6) |
|
Outpatient medical imaging provider |
|
Junior secured loan ($2,521 par due 11/2010) |
|
|
|
4/1/2010 |
|
2,051 |
|
671 |
(2)(20) |
|
|
|
|
|
|
Preferred member units (1,823,179 units) |
|
|
|
4/1/2010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,051 |
|
671 |
|
|
|
SurgiQuest, Inc. |
|
Medical device company |
|
Senior secured loan ($7,000 par due 10/2016) |
|
10.00% |
|
9/28/2012 |
|
6,812 |
|
7,000 |
(2) |
|
|
|
|
|
|
Warrants to purchase up to 54,672 shares of Series D-4 convertible preferred stock |
|
|
|
9/28/2012 |
|
|
|
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
6,812 |
|
7,000 |
|
|
|
U.S. Anesthesia Partners, Inc. |
|
Anesthesiology service provider |
|
Senior secured loan ($14,962 par due 12/2018) |
|
6.50% (Libor + 5.50%/Q) |
|
12/27/2012 |
|
14,962 |
|
14,962 |
(2)(21) |
|
|
Vantage Oncology, Inc. |
|
Radiation oncology care provider |
|
Common stock (62,157 shares) |
|
|
|
2/3/2011 |
|
4,670 |
|
2,252 |
(2) |
|
|
Young Innovations, Inc. |
|
Dental equipment manufacturer |
|
Senior secured loan ($15,000 par due 1/2019) |
|
6.25% (Libor + 5.00%/M) |
|
1/31/2013 |
|
15,000 |
|
15,000 |
(2)(21) |
|
|
|
|
|
|
Senior secured loan ($22,143 par due 1/2019) |
|
6.25% (Libor + 5.00%/M) |
|
1/31/2013 |
|
22,143 |
|
22,143 |
(3)(21) |
|
|
|
|
|
|
|
|
|
|
|
|
37,143 |
|
37,143 |
|
|
|
|
|
|
|
|
|
|
|
|
|
823,407 |
|
822,718 |
|
20.68 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Education |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
American Academy Holdings, |
|
Provider of education, |
|
Senior secured revolving |
|
7.25% (Base |
|
3/18/2011 |
|
4,850 |
|
4,850 |
(2)(21) |
|
|
As of March 31, 2013
(dollar amounts in thousands)
(unaudited)
Company(1) |
|
Business Description |
|
Investment |
|
Interest(5)(11) |
|
Acquisition |
|
Amortized |
|
Fair Value |
|
Percentage |
|
LLC |
|
training, certification, networking, and consulting services to medical coders and other healthcare professionals |
|
loan ($4,850 par due 3/2019) |
|
Rate + 4.00%/Q) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Senior secured loan ($7,800 par due 3/2019) |
|
6.00% (Libor + 5.00%/Q) |
|
3/18/2011 |
|
7,800 |
|
7,800 |
(2)(21) |
|
|
|
|
|
|
Senior secured loan ($5,985 par due 3/2019) |
|
6.00% (Libor + 5.00%/Q) |
|
3/18/2011 |
|
5,985 |
|
5,985 |
(2)(21) |
|
|
|
|
|
|
Senior secured loan ($10,331 par due 3/2019) |
|
6.00% (Libor + 5.00%/Q) |
|
3/18/2011 |
|
10,331 |
|
10,331 |
(2)(21) |
|
|
|
|
|
|
Senior secured loan ($60,752 par due 3/2019) |
|
6.00% (Libor + 5.00%/Q) |
|
3/18/2011 |
|
60,752 |
|
60,752 |
(3)(21) |
|
|
|
|
|
|
Senior secured loan ($4,770 par due 3/2019) |
|
6.00% (Libor + 5.00%/Q) |
|
3/18/2011 |
|
4,770 |
|
4,770 |
(4)(21) |
|
|
|
|
|
|
|
|
|
|
|
|
94,488 |
|
94,488 |
|
|
|
Campus Management Corp. and Campus Management Acquisition Corp. (6) |
|
Education software developer |
|
Preferred stock (485,159 shares) |
|
|
|
2/8/2008 |
|
10,520 |
|
5,461 |
(2) |
|
|
Community Education Centers, Inc. |
|
Offender re-entry and in-prison treatment services provider |
|
Senior secured loan ($15,000 par due 12/2014) |
|
6.25% (Libor + 5.25%/Q) |
|
12/10/2010 |
|
15,000 |
|
15,000 |
(2)(15)(21) |
|
|
|
|
|
|
Senior secured loan ($714 par due 12/2014) |
|
7.50% (Base Rate + 4.25%/Q) |
|
12/10/2010 |
|
714 |
|
714 |
(2)(15)(21) |
|
|
|
|
|
|
Junior secured loan ($33,599 par due 12/2015) |
|
15.30% (Libor + 15.00%/Q) |
|
12/10/2010 |
|
33,599 |
|
30,912 |
(2) |
|
|
|
|
|
|
Junior secured loan ($10,139 par due 12/2015) |
|
15.29% (Libor + 15.00%/Q) |
|
12/10/2010 |
|
10,139 |
|
9,329 |
(2) |
|
|
|
|
|
|
Warrants to purchase up to 654,618 shares |
|
|
|
12/10/2010 |
|
|
|
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
59,452 |
|
55,955 |
|
|
|
eInstruction Corporation |
|
Developer, manufacturer and retailer of educational products |
|
Senior secured loan ($17,000 par due 7/2014) |
|
|
|
4/1/2010 |
|
15,258 |
|
|
(2)(20) |
|
|
|
|
|
|
Senior subordinated loan ($33,305 par due 1/2015) |
|
|
|
4/1/2010 |
|
24,152 |
|
|
(2)(20) |
|
|
|
|
|
|
Common stock (2,406 shares) |
|
|
|
4/1/2010 |
|
926 |
|
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
40,336 |
|
|
|
|
|
ELC Acquisition Corp., ELC Holdings Corporation, and Excelligence Learning Corporation (6) |
|
Developer, manufacturer and retailer of educational products |
|
Preferred stock (99,492 shares) |
|
12.00% PIK |
|
8/1/2011 |
|
10,845 |
|
12,119 |
(2) |
|
|
|
|
|
|
Common stock (50,800 shares) |
|
|
|
8/1/2011 |
|
51 |
|
3,290 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
10,896 |
|
15,409 |
|
|
|
Infilaw Holding, LLC |
|
Operator of three for-profit law schools |
|
Senior secured loan ($1 par due 8/2016) |
|
9.50% (Libor + 8.50%/Q) |
|
8/25/2011 |
|
1 |
|
1 |
(2)(21) |
|
|
|
|
|
|
Senior secured loan ($19,086 par due 8/2016) |
|
9.50% (Libor + 8.50%/Q) |
|
8/25/2011 |
|
19,086 |
|
19,086 |
(3)(21) |
|
|
|
|
|
|
Series A preferred units (124,890 units) |
|
9.50% (Libor + 8.50%/Q) |
|
8/25/2011 |
|
124,890 |
|
124,890 |
(2)(21) |
|
|
|
|
|
|
Series B preferred stock (3.91 units) |
|
|
|
10/19/2012 |
|
9,245 |
|
9,884 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
153,222 |
|
153,861 |
|
|
|
Instituto de Banca y Comercio, Inc. & Leeds IV Advisors, Inc. |
|
Private school operator |
|
Series B preferred stock (1,750,000 shares) |
|
|
|
8/5/2010 |
|
5,000 |
|
7,412 |
(2) |
|
|
|
|
|
|
Series C preferred stock (2,512,586 shares) |
|
|
|
6/7/2010 |
|
689 |
|
34 |
(2) |
|
|
|
|
|
|
Common stock (20 shares) |
|
|
|
6/7/2010 |
|
|
|
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
5,689 |
|
7,446 |
|
|
|
Lakeland Tours, LLC |
|
Educational travel provider |
|
Senior secured loan ($58,826 par due 12/2016) |
|
9.25% (Libor + 8.25%/Q) |
|
10/4/2011 |
|
58,678 |
|
58,826 |
(2)(14)(21) |
|
|
|
|
|
|
Senior secured loan ($1,760 par due 12/2016) |
|
5.25% (Libor + 4.25%/Q) |
|
10/4/2011 |
|
1,756 |
|
1,760 |
(2)(21) |
|
|
|
|
|
|
Senior secured loan ($40,362 par due 12/2016) |
|
9.25% (Libor + 8.25%/Q) |
|
10/4/2011 |
|
40,259 |
|
40,362 |
(3)(14)(21) |
|
|
|
|
|
|
Senior secured loan ($8,800 par due 12/2016) |
|
5.25% (Libor + 4.25%/Q) |
|
10/4/2011 |
|
8,777 |
|
8,800 |
(3)(21) |
|
|
|
|
|
|
Common stock (5,000 shares) |
|
|
|
10/4/2011 |
|
5,000 |
|
4,892 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
114,470 |
|
114,640 |
|
|
|
R3 Education, Inc. and EIC Acquisitions Corp. |
|
Medical school operator |
|
Preferred stock (8,800 shares) |
|
|
|
7/30/2008 |
|
2,200 |
|
1,936 |
(2) |
|
|
|
|
|
|
Common membership |
|
|
|
9/21/2007 |
|
15,800 |
|
29,443 |
(2) |
|
|
As of March 31, 2013
(dollar amounts in thousands)
(unaudited)
Company(1) |
|
Business Description |
|
Investment |
|
Interest(5)(11) |
|
Acquisition |
|
Amortized |
|
Fair Value |
|
Percentage |
|
|
|
|
|
interest (26.27% interest) Warrants to purchase up to 27,890 shares |
|
|
|
12/8/2009 |
|
|
|
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
18,000 |
|
31,379 |
|
|
|
|
|
|
|
|
|
|
|
|
|
507,073 |
|
478,639 |
|
12.03 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Restaurants and Food Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ADF Capital, Inc. & ADF Restaurant Group, LLC |
|
Restaurant owner and operator |
|
Senior secured revolving loan ($1,468 par due 11/2014) |
|
6.50% (Libor + 3.50%/Q) |
|
11/27/2006 |
|
1,468 |
|
1,468 |
(2)(21) |
|
|
|
|
|
|
Senior secured revolving loan ($50 par due 11/2014) |
|
6.50% (Base Rate + 2.50%/Q) |
|
11/27/2006 |
|
50 |
|
50 |
(2)(21) |
|
|
|
|
|
|
Senior secured loan ($9,168 par due 11/2015) |
|
12.50% (Libor + 9.50%/Q) |
|
11/27/2006 |
|
9,168 |
|
9,168 |
(2)(21) |
|
|
|
|
|
|
Senior secured loan ($10,995 par due 11/2015) |
|
12.50% (Libor + 9.50%/Q) |
|
11/27/2006 |
|
10,998 |
|
10,995 |
(3)(21) |
|
|
|
|
|
|
Promissory note ($20,020,806 par due 11/2016) |
|
12.00% PIK |
|
11/27/2006 |
|
16,584 |
|
19,978 |
(2) |
|
|
|
|
|
|
Warrants to purchase up to 0.61 shares |
|
|
|
6/1/2006 |
|
|
|
2,352 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
38,268 |
|
44,011 |
|
|
|
Benihana, Inc. |
|
Restaurant owner and operator |
|
Senior secured loan ($11,715 par due 2/2018) |
|
9.25% (Libor + 8.00%/Q) |
|
8/21/2012 |
|
11,715 |
|
11,715 |
(2)(21) |
|
|
|
|
|
|
Senior secured loan ($10,000 par due 2/2018) |
|
9.25% (Libor + 8.00%/Q) |
|
8/21/2012 |
|
10,000 |
|
10,000 |
(3)(21) |
|
|
|
|
|
|
Senior secured loan ($9,975 par due 2/2018) |
|
9.25% (Libor + 8.00%/Q) |
|
8/21/2012 |
|
9,975 |
|
9,975 |
(4)(21) |
|
|
|
|
|
|
|
|
|
|
|
|
31,690 |
|
31,690 |
|
|
|
Hojeij Branded Foods, Inc. |
|
Airport restaurant operator |
|
Senior secured revolving loan ($1,900 par due 2/2017) |
|
9.00% (Libor + 8.00%/Q) |
|
2/15/2012 |
|
1,900 |
|
1,900 |
(2)(21) |
|
|
|
|
|
|
Senior secured loan ($25,600 par due 2/2017) |
|
9.00% (Libor + 8.00%/Q) |
|
2/15/2012 |
|
25,053 |
|
25,600 |
(2)(21) |
|
|
|
|
|
|
Warrants to purchase up to 7.5% of membership interest |
|
|
|
2/15/2012 |
|
|
|
164 |
(2) |
|
|
|
|
|
|
Warrants to purchase up to 324 shares of Class A common stock |
|
|
|
2/15/2012 |
|
669 |
|
2,362 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
27,622 |
|
30,026 |
|
|
|
Orion Foods, LLC (7) |
|
Convenience food service retailer |
|
Senior secured revolving loan ($9,000 par due 9/2014) |
|
10.75% (Base Rate + 7.50%/M) |
|
4/1/2010 |
|
9,000 |
|
9,000 |
(2)(21) |
|
|
|
|
|
|
Senior secured loan ($33,367 par due 9/2014) |
|
10.00% (Libor + 8.50%/Q) |
|
4/1/2010 |
|
33,367 |
|
33,367 |
(3)(21) |
|
|
|
|
|
|
Junior secured loan ($37,552 par due 9/2014) |
|
|
|
4/1/2010 |
|
22,425 |
|
15,358 |
(2)(20) |
|
|
|
|
|
|
Preferred units (10,000 units) |
|
|
|
10/28/2010 |
|
|
|
|
(2) |
|
|
|
|
|
|
Class A common units (25,001 units) |
|
|
|
4/1/2010 |
|
|
|
|
(2) |
|
|
|
|
|
|
Class B common units (1,122,452 units) |
|
|
|
4/1/2010 |
|
|
|
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
64,792 |
|
57,725 |
|
|
|
OTG Management, LLC |
|
Airport restaurant operator |
|
Senior secured loan ($25,000 par due 12/2017) |
|
8.75% (Libor + 7.25%/Q) |
|
12/11/2012 |
|
25,000 |
|
25,000 |
(2)(21) |
|
|
|
|
|
|
Common units (3,000,000 units) |
|
|
|
1/5/2011 |
|
3,000 |
|
1,955 |
(2) |
|
|
|
|
|
|
Warrants to purchase up to 7.73% of common units |
|
|
|
6/19/2008 |
|
100 |
|
4,151 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
28,100 |
|
31,106 |
|
|
|
Performance Food Group, Inc. and Wellspring Distribution Corp. |
|
Food service distributor |
|
Junior secured loan ($50,000 par due 5/2015) |
|
11.00% |
|
5/30/2012 |
|
50,000 |
|
50,000 |
(2) |
|
|
|
|
|
|
Junior secured loan ($112,250 par due 5/2015) |
|
11.00% |
|
5/23/2008 |
|
111,327 |
|
112,250 |
(2) |
|
|
|
|
|
|
Class A non-voting common stock (1,366,120 shares) |
|
|
|
5/3/2008 |
|
7,500 |
|
6,823 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
168,827 |
|
169,073 |
|
|
|
Restaurant Holding Company, LLC |
|
Fast food restaurant operator |
|
Senior secured loan ($60,667 par due 2/2017) |
|
9.00% (Libor + 7.50%/M) |
|
2/17/2012 |
|
59,676 |
|
60,667 |
(3)(21) |
|
|
|
|
|
|
Senior secured loan ($9,333 par due 2/2017) |
|
9.00% (Libor + 7.50%/M) |
|
2/17/2012 |
|
9,180 |
|
9,333 |
(4)(21) |
|
|
|
|
|
|
|
|
|
|
|
|
68,856 |
|
70,000 |
|
|
|
S.B. Restaurant Company |
|
Restaurant owner and |
|
Preferred stock (46,690 |
|
|
|
4/1/2010 |
|
|
|
|
(2) |
|
|
As of March 31, 2013
(dollar amounts in thousands)
(unaudited)
Company(1) |
|
Business Description |
|
Investment |
|
Interest(5)(11) |
|
Acquisition |
|
Amortized |
|
Fair Value |
|
Percentage |
|
|
|
operator |
|
shares) Warrants to purchase up to 257,429 shares of common stock |
|
|
|
4/1/2010 |
|
|
|
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
428,155 |
|
433,631 |
|
10.90 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AllBridge Financial, LLC (7) |
|
Asset management services |
|
Equity interests |
|
|
|
4/1/2010 |
|
5,675 |
|
7,422 |
|
|
|
Callidus Capital Corporation (7) |
|
Asset management services |
|
Common stock (100 shares) |
|
|
|
4/1/2010 |
|
3,000 |
|
1,735 |
|
|
|
Ciena Capital LLC (7) |
|
Real estate and small business loan servicer |
|
Senior secured revolving loan ($14,000 par due 12/2014) |
|
6.00% |
|
11/29/2010 |
|
14,000 |
|
14,000 |
(2) |
|
|
|
|
|
|
Senior secured loan ($32,000 par due 12/2016) |
|
12.00% |
|
11/29/2010 |
|
32,000 |
|
32,000 |
(2) |
|
|
|
|
|
|
Equity interests |
|
|
|
11/29/2010 |
|
53,374 |
|
14,533 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
99,374 |
|
60,533 |
|
|
|
Commercial Credit Group, Inc. |
|
Commercial equipment finance and leasing company |
|
Senior subordinated loan ($28,000 par due 5/2018) |
|
12.75% |
|
5/10/2012 |
|
28,000 |
|
28,000 |
(2) |
|
|
Cook Inlet Alternative Risk, LLC |
|
Risk management services |
|
Senior subordinated loan ($2,500 par due 9/2015) |
|
9.00% |
|
9/30/2011 |
|
2,500 |
|
2,500 |
(2) |
|
|
Financial Pacific Company |
|
Commercial finance leasing |
|
Preferred stock (6,500 shares) |
|
8.00% PIK |
|
10/13/2010 |
|
3,807 |
|
14,065 |
|
|
|
|
|
|
|
Common stock (650,000 shares) |
|
|
|
10/13/2010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,807 |
|
14,065 |
|
|
|
Gordian Acquisition Corp. |
|
Financial services firm |
|
Common stock (526 shares) |
|
|
|
11/30/2012 |
|
|
|
|
(2) |
|
|
Imperial Capital Group LLC |
|
Investment services |
|
2006 Class B common units (2,526 units) |
|
|
|
5/10/2007 |
|
3 |
|
4 |
(2) |
|
|
|
|
|
|
2007 Class B common units (315 units) |
|
|
|
5/10/2007 |
|
|
|
1 |
(2) |
|
|
|
|
|
|
Class A common units (7,710 units) |
|
|
|
5/10/2007 |
|
14,997 |
|
18,949 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
15,000 |
|
18,954 |
|
|
|
Ivy Hill Asset Management, L.P. (7)(9) |
|
Asset management services |
|
Member interest (100.00% interest) |
|
|
|
6/15/2009 |
|
170,961 |
|
267,839 |
|
|
|
|
|
|
|
|
|
|
|
|
|
328,317 |
|
401,048 |
|
10.08 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Business Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Access CIG, LLC |
|
Records and information management services provider |
|
Senior secured loan ($1,000 par due 10/2017) |
|
7.00% (Libor + 5.75%/Q) |
|
10/5/2012 |
|
1,000 |
|
1,000 |
(2)(21) |
|
|
Cast & Crew Payroll, LLC and Centerstage Co-Investors, L.L.C. (6) |
|
Payroll and accounting services provider to the entertainment industry |
|
Senior secured loan ($19,750 par due 12/2017) |
|
7.50% (Libor + 6.50%/Q) |
|
12/24/2012 |
|
19,750 |
|
19,750 |
(2)(16)(21) |
|
|
|
|
|
|
Senior secured loan ($49,375 par due 12/2017) |
|
7.50% (Libor + 6.50%/Q) |
|
12/24/2012 |
|
49,375 |
|
49,375 |
(3)(21) |
|
|
|
|
|
|
Class A membership units (2,500,000 units) |
|
|
|
12/24/2012 |
|
2,500 |
|
2,500 |
(2) |
|
|
|
|
|
|
Class B membership units (2,500,000 units) |
|
|
|
12/24/2012 |
|
2,500 |
|
2,500 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
74,125 |
|
74,125 |
|
|
|
CIBT Investment Holdings, LLC |
|
Expedited travel document processing services |
|
Class A shares (2,500 shares) |
|
|
|
12/15/2011 |
|
2,500 |
|
3,477 |
(2) |
|
|
CitiPostal Inc. (7) |
|
Document storage and management services |
|
Senior secured revolving loan ($1,000 par due 12/2013) |
|
6.50% (Base Rate + 3.25%/Q) |
|
4/1/2010 |
|
1,000 |
|
1,000 |
(2)(21) |
|
|
|
|
|
|
Senior secured loan ($525 par due 12/2013) |
|
8.50% Cash, 5.50% PIK |
|
4/1/2010 |
|
525 |
|
489 |
(2) |
|
|
|
|
|
|
Senior secured loan ($53,817 par due 12/2013) |
|
8.50% Cash, 5.50% PIK |
|
4/1/2010 |
|
53,817 |
|
50,066 |
(2) |
|
|
|
|
|
|
Senior subordinated loan ($17,936 par due 12/2015) |
|
|
|
4/1/2010 |
|
13,038 |
|
|
(2)(20) |
|
|
|
|
|
|
Common stock (37,024 shares) |
|
|
|
4/1/2010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
68,380 |
|
51,555 |
|
|
|
Command Alkon, Inc. |
|
Software solutions provider to the ready-mix concrete industry |
|
Junior secured loan ($39,130 par due 3/2018) |
|
9.75% (Libor + 8.50%/Q) |
|
9/28/2012 |
|
39,130 |
|
39,130 |
(2)(21) |
|
|
Cornerstone Records Management, LLC |
|
Physical records storage and management service provider |
|
Senior secured loan ($18,403 par due 8/2016) |
|
12.25% (Base Rate + 9.00%/Q) |
|
8/12/2011 |
|
18,403 |
|
17,667 |
(2)(21) |
|
|
HCPro, Inc. and HCP |
|
Healthcare compliance |
|
Senior subordinated loan |
|
|
|
3/5/2013 |
|
5,500 |
|
5,500 |
(2)(20) |
|
|
As of March 31, 2013
(dollar amounts in thousands)
(unaudited)
Company(1) |
|
Business Description |
|
Investment |
|
Interest(5)(11) |
|
Acquisition |
|
Amortized |
|
Fair Value |
|
Percentage |
|
Acquisition Holdings, LLC (7) |
|
advisory services |
|
($17,103 par due 8/2014) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A units (15,043,110 units) |
|
|
|
6/26/2008 |
|
13,543 |
|
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
19,043 |
|
5,500 |
|
|
|
IfByPhone Inc. |
|
Voice-based marketing automation software provider |
|
Senior secured loan ($2,000 par due 11/2015) |
|
11.00% |
|
10/15/2012 |
|
1,924 |
|
2,000 |
(2) |
|
|
|
|
|
|
Senior secured loan ($1,000 par due 1/2016) |
|
11.00% |
|
10/15/2012 |
|
1,000 |
|
1,000 |
(2) |
|
|
|
|
|
|
Warrant to purchase up to 124,300 shares of Series C preferred stock |
|
|
|
10/15/2012 |
|
88 |
|
88 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
3,012 |
|
3,088 |
|
|
|
Impact Innovations Group, LLC |
|
IT consulting and outsourcing services |
|
Member interest (50.00% interest) |
|
|
|
4/1/2010 |
|
|
|
200 |
|
|
|
Investor Group Services, LLC (6) |
|
Business consulting for private equity and corporate clients |
|
Limited liability company membership interest (10.00% interest) |
|
|
|
6/22/2006 |
|
|
|
805 |
|
|
|
Itel Laboratories, Inc. |
|
Data services provider for building materials to property insurance industry |
|
Senior secured loan ($22,182 par due 6/2018) |
|
6.00% (Libor + 4.75%/M) |
|
6/29/2012 |
|
22,182 |
|
22,182 |
(2)(21) |
|
|
|
|
|
|
Preferred units (1,798,391 units) |
|
|
|
6/29/2012 |
|
1,000 |
|
1,118 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
23,182 |
|
23,300 |
|
|
|
Multi-Ad Services, Inc. (6) |
|
Marketing services and software provider |
|
Preferred units (1,725,280 units) |
|
|
|
4/1/2010 |
|
788 |
|
2,043 |
|
|
|
|
|
|
|
Common units (1,725,280 units) |
|
|
|
4/1/2010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
788 |
|
2,043 |
|
|
|
MVL Group, Inc. (7) |
|
Marketing research provider |
|
Senior secured revolving loan ($806 par due 6/2012) |
|
4.80% (Libor + 4.50%/Q) |
|
6/28/2012 |
|
806 |
|
806 |
(2) |
|
|
|
|
|
|
Senior subordinated loan ($37,003 par due 7/2012) |
|
|
|
4/1/2010 |
|
34,636 |
|
7,216 |
(2)(20) |
|
|
|
|
|
|
Junior subordinated loan ($185 par due 7/2012) |
|
|
|
4/1/2010 |
|
|
|
|
(2)(20) |
|
|
|
|
|
|
Common stock (560,716 shares) |
|
|
|
4/1/2010 |
|
|
|
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
35,442 |
|
8,022 |
|
|
|
NComputing, Inc. |
|
Desktop virtualization hardware and software technology service provider |
|
Senior secured loan ($6,500 par due 7/2016) |
|
10.50% |
|
3/20/2013 |
|
6,500 |
|
6,500 |
(2) |
|
|
|
|
|
|
Warrant to purchase up to 462,726 shares of Series C preferred stock |
|
|
|
3/20/2013 |
|
|
|
41 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
6,500 |
|
6,541 |
|
|
|
Pillar Processing LLC and PHL Holding Co. (6) |
|
Mortgage services |
|
Senior secured loan ($6,659 par due 11/2018) |
|
|
&nbs |