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 June 30, 2014
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
(Registrant’s 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 issuer’s classes of common stock, as of the latest practicable date.
|
Class |
|
Outstanding at August 4, 2014 |
|
Common stock, $0.001 par value |
|
314,108,062 |
ARES CAPITAL CORPORATION
|
Part I. |
Financial Information |
|
|
|
|
|
|
Item 1. |
Financial Statements |
|
|
|
|
|
|
|
Consolidated Balance Sheet as of June 30, 2014 (unaudited) and December 31, 2013 |
2 |
|
|
|
|
|
|
3 | |
|
|
|
|
|
|
Consolidated Schedule of Investments as of June 30, 2014 (unaudited) and December 31, 2013 |
5 |
|
|
|
|
|
|
Consolidated Statement of Stockholders’ Equity for the six months ended June 30, 2014 (unaudited) |
49 |
|
|
|
|
|
|
50 | |
|
|
|
|
|
|
51 | |
|
|
|
|
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations |
77 | |
|
|
|
|
|
103 | ||
|
|
|
|
|
104 | ||
|
|
|
|
|
| ||
|
|
|
|
|
104 | ||
|
|
|
|
|
105 | ||
|
|
|
|
|
105 | ||
|
|
|
|
|
105 | ||
|
|
|
|
|
105 | ||
|
|
|
|
|
105 | ||
|
|
|
|
|
105 |
ARES CAPITAL CORPORATION AND SUBSIDIARIES
(in thousands, except per share data)
|
|
|
As of |
| ||||
|
|
|
June 30, 2014 |
|
December 31, 2013 |
| ||
|
|
|
(unaudited) |
|
|
| ||
|
ASSETS |
|
|
|
|
| ||
|
Investments at fair value |
|
|
|
|
| ||
|
Non-controlled/non-affiliate investments |
|
$ |
5,315,070 |
|
$ |
5,136,612 |
|
|
Non-controlled affiliate company investments |
|
301,712 |
|
260,484 |
| ||
|
Controlled affiliate company investments |
|
2,451,160 |
|
2,235,801 |
| ||
|
Total investments at fair value (amortized cost of $7,880,204 and $7,537,403, respectively) |
|
8,067,942 |
|
7,632,897 |
| ||
|
Cash and cash equivalents |
|
223,154 |
|
149,629 |
| ||
|
Interest receivable |
|
153,077 |
|
123,981 |
| ||
|
Receivable for open trades |
|
963 |
|
128,566 |
| ||
|
Other assets |
|
115,083 |
|
106,431 |
| ||
|
Total assets |
|
$ |
8,560,219 |
|
$ |
8,141,504 |
|
|
LIABILITIES |
|
|
|
|
| ||
|
Debt |
|
$ |
3,357,415 |
|
$ |
2,986,275 |
|
|
Base management fees payable |
|
30,731 |
|
29,270 |
| ||
|
Income based fees payable |
|
25,540 |
|
29,001 |
| ||
|
Capital gains incentive fees payable |
|
74,615 |
|
80,937 |
| ||
|
Accounts payable and other liabilities |
|
76,271 |
|
68,649 |
| ||
|
Interest and facility fees payable |
|
44,527 |
|
42,828 |
| ||
|
Payable for open trades |
|
17,476 |
|
100 |
| ||
|
Total liabilities |
|
3,626,575 |
|
3,237,060 |
| ||
|
Commitments and contingencies (Note 7) |
|
|
|
|
| ||
|
STOCKHOLDERS’ EQUITY |
|
|
|
|
| ||
|
Common stock, par value $0.001 per share, 500,000 common shares authorized 298,583 and 297,971 common shares issued and outstanding, respectively |
|
299 |
|
298 |
| ||
|
Capital in excess of par value |
|
4,993,323 |
|
4,982,477 |
| ||
|
Accumulated overdistributed net investment income |
|
(45,928 |
) |
(8,785 |
) | ||
|
Accumulated net realized loss on investments, foreign currency transactions, extinguishment of debt and other assets |
|
(201,512 |
) |
(165,040 |
) | ||
|
Net unrealized gain on investments and foreign currency transactions |
|
187,462 |
|
95,494 |
| ||
|
Total stockholders’ equity |
|
4,933,644 |
|
4,904,444 |
| ||
|
Total liabilities and stockholders’ equity |
|
$ |
8,560,219 |
|
$ |
8,141,504 |
|
|
NET ASSETS PER SHARE |
|
$ |
16.52 |
|
$ |
16.46 |
|
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 June 30, |
|
For the six months ended June 30, |
| ||||||||
|
|
|
2014 |
|
2013 |
|
2014 |
|
2013 |
| ||||
|
|
|
(unaudited) |
|
(unaudited) |
|
(unaudited) |
|
(unaudited) |
| ||||
|
INVESTMENT INCOME: |
|
|
|
|
|
|
|
|
| ||||
|
From non-controlled/non-affiliate company investments: |
|
|
|
|
|
|
|
|
| ||||
|
Interest income from investments |
|
$ |
100,780 |
|
$ |
94,390 |
|
$ |
200,211 |
|
$ |
179,512 |
|
|
Capital structuring service fees |
|
12,371 |
|
13,527 |
|
26,694 |
|
17,631 |
| ||||
|
Dividend income |
|
5,601 |
|
5,073 |
|
13,577 |
|
9,097 |
| ||||
|
Management and other fees |
|
— |
|
349 |
|
— |
|
663 |
| ||||
|
Other income |
|
2,854 |
|
3,137 |
|
9,902 |
|
9,332 |
| ||||
|
Total investment income from non- controlled/non-affiliate company investments |
|
121,606 |
|
116,476 |
|
250,384 |
|
216,235 |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
From non-controlled affiliate company investments: |
|
|
|
|
|
|
|
|
| ||||
|
Interest income from investments |
|
3,295 |
|
5,635 |
|
6,195 |
|
11,651 |
| ||||
|
Capital structuring service fees |
|
— |
|
— |
|
650 |
|
— |
| ||||
|
Dividend income |
|
826 |
|
560 |
|
3,498 |
|
1,163 |
| ||||
|
Other income |
|
76 |
|
38 |
|
403 |
|
129 |
| ||||
|
Total investment income from non- controlled affiliate company investments |
|
4,197 |
|
6,233 |
|
10,746 |
|
12,943 |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
From controlled affiliate company investments: |
|
|
|
|
|
|
|
|
| ||||
|
Interest income from investments |
|
72,075 |
|
57,944 |
|
143,268 |
|
110,983 |
| ||||
|
Capital structuring service fees |
|
9,361 |
|
10,622 |
|
15,286 |
|
12,509 |
| ||||
|
Dividend income |
|
10,322 |
|
10,145 |
|
30,400 |
|
37,607 |
| ||||
|
Management and other fees |
|
6,078 |
|
4,644 |
|
12,030 |
|
8,828 |
| ||||
|
Other income |
|
1,288 |
|
59 |
|
2,532 |
|
2,073 |
| ||||
|
Total investment income from controlled affiliate company investments |
|
99,124 |
|
83,414 |
|
203,516 |
|
172,000 |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Total investment income |
|
224,927 |
|
206,123 |
|
464,646 |
|
401,178 |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
EXPENSES: |
|
|
|
|
|
|
|
|
| ||||
|
Interest and credit facility fees |
|
53,151 |
|
40,261 |
|
105,644 |
|
79,608 |
| ||||
|
Base management fees |
|
30,731 |
|
24,902 |
|
60,815 |
|
48,120 |
| ||||
|
Income based fees |
|
25,540 |
|
25,390 |
|
53,858 |
|
49,226 |
| ||||
|
Capital gains incentive fees |
|
10,168 |
|
7,984 |
|
11,103 |
|
4,233 |
| ||||
|
Administrative fees |
|
2,813 |
|
2,606 |
|
6,556 |
|
5,198 |
| ||||
|
Other general and administrative |
|
7,610 |
|
7,484 |
|
14,040 |
|
14,396 |
| ||||
|
Total expenses |
|
130,013 |
|
108,627 |
|
252,016 |
|
200,781 |
| ||||
|
|
|
For the three months ended June 30, |
|
For the six months ended June 30, |
| ||||||||
|
|
|
2014 |
|
2013 |
|
2014 |
|
2013 |
| ||||
|
|
|
(unaudited) |
|
(unaudited) |
|
(unaudited) |
|
(unaudited) |
| ||||
|
NET INVESTMENT INCOME BEFORE INCOME TAXES |
|
94,914 |
|
97,496 |
|
212,630 |
|
200,397 |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Income tax expense, including excise tax |
|
2,923 |
|
3,919 |
|
8,303 |
|
7,723 |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
NET INVESTMENT INCOME |
|
91,991 |
|
93,577 |
|
204,327 |
|
192,674 |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS AND FOREIGN CURRENCY TRANSACTIONS: |
|
|
|
|
|
|
|
|
| ||||
|
Net realized gains (losses): |
|
|
|
|
|
|
|
|
| ||||
|
Non-controlled/non-affiliate company investments |
|
519 |
|
5,777 |
|
10,667 |
|
16,428 |
| ||||
|
Non-controlled affiliate company investments |
|
— |
|
128 |
|
38 |
|
145 |
| ||||
|
Controlled affiliate company investments |
|
(47,956 |
) |
2,743 |
|
(46,188 |
) |
3,753 |
| ||||
|
Foreign currency transactions |
|
(1,080 |
) |
— |
|
(917 |
) |
— |
| ||||
|
Net realized gains (losses) |
|
(48,517 |
) |
8,648 |
|
(36,400 |
) |
20,326 |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Net unrealized gains (losses): |
|
|
|
|
|
|
|
|
| ||||
|
Non-controlled/non-affiliate company investments |
|
13,031 |
|
18,149 |
|
9,786 |
|
24,098 |
| ||||
|
Non-controlled affiliate company investments |
|
31,955 |
|
(580 |
) |
47,046 |
|
(1,933 |
) | ||||
|
Controlled affiliate company investments |
|
54,630 |
|
13,704 |
|
35,410 |
|
(21,325 |
) | ||||
|
Foreign currency transactions |
|
(259 |
) |
— |
|
(274 |
) |
— |
| ||||
|
Net unrealized gains |
|
99,357 |
|
31,273 |
|
91,968 |
|
840 |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Net realized and unrealized gains from investments |
|
50,840 |
|
39,921 |
|
55,568 |
|
21,166 |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
REALIZED LOSS ON EXTINGUISHMENT OF DEBT |
|
— |
|
— |
|
(72 |
) |
— |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
NET INCREASE IN STOCKHOLDERS’ EQUITY RESULTING FROM OPERATIONS |
|
$ |
142,831 |
|
$ |
133,498 |
|
$ |
259,823 |
|
$ |
213,840 |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
BASIC AND DILUTED EARNINGS PER COMMON SHARE (Note 10) |
|
$ |
0.48 |
|
$ |
0.50 |
|
$ |
0.87 |
|
$ |
0.83 |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING — BASIC AND DILUTED (Note 10) |
|
298,270 |
|
266,174 |
|
298,122 |
|
257,464 |
| ||||
See accompanying notes to consolidated financial statements.
ARES CAPITAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
As of June 30, 2014
(dollar amounts in thousands)
(unaudited)
|
Company(1) |
|
Business Description |
|
Investment |
|
Interest (5)(10) |
|
Acquisition |
|
Amortized |
|
Fair Value |
|
Percentage |
| ||
|
Investment Funds and Vehicles |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
|
CIC Flex, LP (9) |
|
Investment partnership |
|
Limited partnership units (0.94 units) |
|
|
|
9/7/2007 |
|
$ |
759 |
|
$ |
3,518 |
(2) |
|
|
|
Covestia Capital Partners, LP (9) |
|
Investment partnership |
|
Limited partnership interest (47.00% interest) |
|
|
|
6/17/2008 |
|
487 |
|
1,141 |
(2) |
|
| ||
|
Dynamic India Fund IV, LLC (8)(9) |
|
Investment company |
|
Member interest (5.44% interest) |
|
|
|
4/1/2010 |
|
4,822 |
|
5,067 |
|
|
| ||
|
HCI Equity, LLC (7)(8)(9) |
|
Investment company |
|
Member interest (100.00% interest) |
|
|
|
4/1/2010 |
|
112 |
|
385 |
|
|
| ||
|
Imperial Capital Private Opportunities, LP (9) |
|
Investment partnership |
|
Limited partnership interest (80.00% interest) |
|
|
|
5/10/2007 |
|
5,134 |
|
17,921 |
(2) |
|
| ||
|
Partnership Capital Growth Fund I, L.P. (9) |
|
Investment partnership |
|
Limited partnership interest (25.00% interest) |
|
|
|
6/16/2006 |
|
1,403 |
|
3,498 |
(2) |
|
| ||
|
Partnership Capital Growth Investors III, L.P. (9) |
|
Investment partnership |
|
Limited partnership interest (2.50% interest) |
|
|
|
10/5/2011 |
|
2,244 |
|
2,383 |
(2) |
|
| ||
|
PCG-Ares Sidecar Investment, L.P. (9) |
|
Investment partnership |
|
Limited partnership interest (100.00% interest) |
|
|
|
5/22/2014 |
|
2,042 |
|
2,042 |
(2) |
|
| ||
|
Piper Jaffray Merchant Banking Fund I, L.P. (9) |
|
Investment partnership |
|
Limited partnership interest (2.00% interest) |
|
|
|
8/16/2012 |
|
838 |
|
779 |
(2) |
|
| ||
|
Senior Secured Loan Fund LLC (7)(10) |
|
Co-investment vehicle |
|
Subordinated certificates ($1,938,046 par due 12/2024) |
|
8.23% (Libor + 8.00%/Q)(27) |
|
10/30/2009 |
|
1,938,046 |
|
1,967,117 |
|
|
| ||
|
|
|
|
|
Membership interest (87.50% interest) |
|
|
|
10/30/2009 |
|
— |
|
— |
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
1,938,046 |
|
1,967,117 |
|
|
| ||
|
VSC Investors LLC (9) |
|
Investment company |
|
Membership interest (1.95% interest) |
|
|
|
1/24/2008 |
|
868 |
|
1,479 |
(2) |
|
| ||
|
|
|
|
|
|
|
|
|
|
|
1,956,755 |
|
2,005,330 |
|
40.65 |
% | ||
|
Healthcare-Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Alegeus Technologies Holdings Corp. |
|
Benefits administration and transaction processing provider |
|
Preferred stock (2,997 shares) |
|
|
|
12/13/2013 |
|
3,087 |
|
2,702 |
|
|
| ||
|
|
|
|
|
Common stock (3 shares) |
|
|
|
12/13/2013 |
|
3 |
|
27 |
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
3,090 |
|
2,729 |
|
|
| ||
|
AxelaCare Holdings, Inc. and AxelaCare Investment Holdings, L.P. |
|
Provider of home infusion services |
|
Preferred units (8,218,160 units) |
|
|
|
4/12/2013 |
|
822 |
|
729 |
(2) |
|
| ||
|
|
|
|
|
Common units (83,010 units) |
|
|
|
4/12/2013 |
|
8 |
|
6 |
(2) |
|
| ||
|
|
|
|
|
|
|
|
|
|
|
830 |
|
735 |
|
|
| ||
|
California Forensic Medical Group, Incorporated |
|
Correctional facility healthcare operator |
|
First lien senior secured loan ($48,902 par due 11/2018) |
|
9.25% (Libor + 8.00%/Q) |
|
11/16/2012 |
|
48,902 |
|
48,902 |
(3)(26) |
|
| ||
|
CCS Group Holdings, LLC |
|
Correctional facility healthcare operator |
|
Class A units (601,937 units) |
|
|
|
8/19/2010 |
|
602 |
|
1,608 |
(2) |
|
| ||
|
CT Technologies Intermediate Holdings, Inc. and CT Technologies Holdings LLC (6) |
|
Healthcare analysis services provider |
|
Class A common stock (9,679 shares) |
|
|
|
6/15/2007 |
|
2,543 |
|
3,325 |
(2) |
|
| ||
|
|
|
|
|
Class C common stock (1,546 shares) |
|
|
|
6/15/2007 |
|
— |
|
531 |
(2) |
|
| ||
|
|
|
|
|
|
|
|
|
|
|
2,543 |
|
3,856 |
|
|
| ||
|
DNAnexus, Inc. |
|
Bioinformatics company |
|
First lien senior secured loan ($5,000 par due 10/2017) |
|
9.25% |
|
3/21/2014 |
|
4,766 |
|
5,000 |
(2) |
|
| ||
|
|
|
|
|
First lien senior secured loan ($5,000 par due 2/2018) |
|
9.25% |
|
3/21/2014 |
|
4,752 |
|
5,000 |
(2) |
|
| ||
|
|
|
|
|
Warrants to purchase up to 909,092 units of Series C preferred stock |
|
|
|
3/21/2014 |
|
— |
|
— |
(2) |
|
| ||
|
|
|
|
|
|
|
|
|
|
|
9,518 |
|
10,000 |
|
|
| ||
|
Genocea Biosciences, Inc. |
|
Vaccine discovery technology company |
|
First lien senior secured loan ($10,000 par due 4/2017) |
|
8.00% |
|
9/30/2013 |
|
9,830 |
|
10,000 |
(2) |
|
| ||
|
|
|
|
|
Common stock (37,250 shares) |
|
|
|
2/10/2014 |
|
— |
|
698 |
(2) |
|
| ||
|
|
|
|
|
|
|
|
|
|
|
9,830 |
|
10,698 |
|
|
| ||
As of June 30, 2014
(dollar amounts in thousands)
(unaudited)
|
Company(1) |
|
Business Description |
|
Investment |
|
Interest (5)(10) |
|
Acquisition |
|
Amortized |
|
Fair Value |
|
Percentage |
|
|
GI Advo Opco, LLC |
|
Behavioral treatment services provider |
|
First lien senior secured loan ($14,381 par due 6/2017) |
|
6.00% (Libor + 4.75%/Q) |
|
12/13/2013 |
|
14,745 |
|
14,381 |
(26) |
|
|
|
Global Healthcare Exchange, LLC and GHX Ultimate Parent Corp. |
|
On-demand supply chain automation solutions provider |
|
First lien senior secured loan ($125,000 par due 3/2020) |
|
10.00% (Libor + 9.00%/Q) |
|
3/11/2014 |
|
123,871 |
|
125,000 |
(2)(26) |
|
|
|
|
|
|
|
Class A common stock (2,475 shares) |
|
|
|
3/11/2014 |
|
2,475 |
|
2,475 |
(2) |
|
|
|
|
|
|
|
Class B common stock (938 shares) |
|
|
|
3/11/2014 |
|
25 |
|
146 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
126,371 |
|
127,621 |
|
|
|
|
INC Research, Inc. |
|
Pharmaceutical and biotechnology consulting services |
|
Common stock (1,410,000 shares) |
|
|
|
9/27/2010 |
|
1,512 |
|
2,107 |
(2) |
|
|
|
Intermedix Corporation |
|
Revenue cycle management provider to the emergency healthcare industry |
|
Second lien senior secured loan ($112,000 par due 6/2020) |
|
9.25% (Libor + 8.25%/Q) |
|
12/27/2012 |
|
112,000 |
|
112,000 |
(2)(26) |
|
|
|
LM Acquisition Holdings, LLC (8) |
|
Developer and manufacturer of medical equipment |
|
Class A units (426 units) |
|
|
|
9/27/2013 |
|
1,000 |
|
1,407 |
(2) |
|
|
|
MC Acquisition Holdings I, LLC |
|
Healthcare professional provider |
|
Class A units (1,000,000 shares) |
|
|
|
1/17/2014 |
|
1,000 |
|
1,089 |
(2) |
|
|
|
Monte Nido Holdings, LLC |
|
Outpatient eating disorder treatment provider |
|
First lien senior secured loan ($44,750 par due 12/2019) |
|
7.75% (Libor + 6.75%/Q) |
|
12/20/2013 |
|
44,750 |
|
44,750 |
(2)(19)(26) |
|
|
|
MW Dental Holding Corp. |
|
Dental services provider |
|
First lien senior secured loan ($36,912 par due 4/2017) |
|
8.50% (Libor + 7.00%/M) |
|
4/12/2011 |
|
36,912 |
|
36,912 |
(2)(26) |
|
|
|
|
|
|
|
First lien senior secured loan ($48,485 par due 4/2017) |
|
8.50% (Libor + 7.00%/M) |
|
4/12/2011 |
|
48,485 |
|
48,485 |
(3)(26) |
|
|
|
|
|
|
|
First lien senior secured loan ($9,746 par due 4/2017) |
|
8.50% (Libor + 7.00%/M) |
|
4/12/2011 |
|
9,746 |
|
9,746 |
(4)(26) |
|
|
|
|
|
|
|
|
|
|
|
|
|
95,143 |
|
95,143 |
|
|
|
|
Napa Management Services Corporation |
|
Anesthesia management services provider |
|
First lien senior secured loan ($66,734 par due 2/2019) |
|
6.00% (Libor + 5.00%/Q) |
|
4/15/2011 |
|
66,734 |
|
66,734 |
(2)(21)(26) |
|
|
|
|
|
|
|
First lien senior secured loan ($33,266 par due 2/2019) |
|
6.00% (Libor + 5.00%/Q) |
|
4/15/2011 |
|
33,209 |
|
33,266 |
(3)(21)(26) |
|
|
|
|
|
|
|
Common units (5,345 units) |
|
|
|
4/15/2011 |
|
5,623 |
|
8,844 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
105,566 |
|
108,844 |
|
|
|
|
National Healing Corporation and National Healing Holding Corp. |
|
Wound care service and equipment provider |
|
Second lien senior secured loan ($10,000 par due 2/2020) |
|
9.25% (Libor + 8.00%/Q) |
|
12/13/2013 |
|
10,273 |
|
10,000 |
(26) |
|
|
|
|
|
|
|
Preferred stock (869,565 shares) |
|
|
|
12/13/2013 |
|
1,296 |
|
1,472 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,569 |
|
11,472 |
|
|
|
|
Netsmart Technologies, Inc. and NS Holdings, Inc. |
|
Healthcare technology provider |
|
First lien senior secured loan ($2,796 par due 12/2017) |
|
8.75% (Libor + 7.50%/Q) |
|
12/18/2012 |
|
2,796 |
|
2,796 |
(2)(17)(26) |
|
|
|
|
|
|
|
First lien senior secured loan ($35,376 par due 12/2017) |
|
8.75% (Libor + 7.50%/Q) |
|
12/18/2012 |
|
35,376 |
|
35,376 |
(2)(17)(26) |
|
|
|
|
|
|
|
Common stock (2,500,000 shares) |
|
|
|
6/21/2010 |
|
2,500 |
|
4,092 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
40,672 |
|
42,264 |
|
|
|
|
New Trident Holdcorp, Inc. |
|
Outsourced mobile diagnostic healthcare service provider |
|
Second lien senior secured loan ($80,000 par due 7/2020) |
|
10.25% (Libor + 9.00%/Q) |
|
8/6/2013 |
|
78,547 |
|
79,200 |
(2)(26) |
|
|
|
Nodality, Inc. |
|
Biotechnology company |
|
First lien senior secured loan ($8,000 par due 2/2018) |
|
8.90% |
|
4/25/2014 |
|
7,731 |
|
7,920 |
(2) |
|
|
|
|
|
|
|
Warrant to purchase up to 164,179 shares of Series B preferred stock |
|
|
|
4/25/2014 |
|
— |
|
41 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
7,731 |
|
7,961 |
|
|
|
|
OmniSYS Acquisition Corporation, OmniSYS, LLC, and OSYS Holdings, LLC |
|
Provider of technology-enabled solutions to pharmacies |
|
First lien senior secured loan ($20,737 par due 11/2018) |
|
8.50% (Libor + 7.50%/Q) |
|
11/21/2013 |
|
20,737 |
|
20,737 |
(2)(26) |
|
|
|
|
|
|
|
Limited liability company membership |
|
|
|
11/21/2013 |
|
1,000 |
|
1,038 |
(2) |
|
|
As of June 30, 2014
(dollar amounts in thousands)
(unaudited)
|
Company(1) |
|
Business Description |
|
Investment |
|
Interest (5)(10) |
|
Acquisition |
|
Amortized |
|
Fair Value |
|
Percentage |
|
|
|
|
|
|
interest (1.57%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
21,737 |
|
21,775 |
|
|
|
|
PerfectServe, Inc. |
|
Communications software platform provider for hospitals and physician practices |
|
First lien senior secured loan ($2,500 par due 10/2017) |
|
10.00% |
|
12/26/2013 |
|
2,475 |
|
2,500 |
(2) |
|
|
|
|
|
|
|
First lien senior secured loan ($3,500 par due 4/2017) |
|
10.00% |
|
12/26/2013 |
|
3,470 |
|
3,500 |
(2) |
|
|
|
|
|
|
|
Warrants to purchase up to 34,113 units of Series C preferred stock |
|
|
|
12/26/2013 |
|
— |
|
67 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
5,945 |
|
6,067 |
|
|
|
|
PGA Holdings, Inc. |
|
Provider of patient surveys, management reports and national databases for the integrated healthcare delivery system |
|
Preferred stock (333 shares) |
|
|
|
3/12/2008 |
|
125 |
|
18 |
(2) |
|
|
|
|
|
|
|
Common stock (16,667 shares) |
|
|
|
3/12/2008 |
|
167 |
|
908 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
292 |
|
926 |
|
|
|
|
Physiotherapy Associates Holdings, Inc. |
|
Physical therapy provider |
|
Class A common stock (100,000 shares) |
|
|
|
12/13/2013 |
|
3,090 |
|
2,324 |
|
|
|
|
POS I Corp. (fka Vantage Oncology, Inc.) |
|
Radiation oncology care provider |
|
Common stock (62,157 shares) |
|
|
|
2/3/2011 |
|
4,670 |
|
813 |
(2) |
|
|
|
RCHP, Inc. |
|
Operator of general acute care hospitals |
|
First lien senior secured loan ($15,000 par due 4/2019) |
|
6.00% (Libor + 5.00%/Q) |
|
11/4/2011 |
|
15,000 |
|
15,000 |
(3)(26) |
|
|
|
|
|
|
|
Second lien senior secured loan ($11,000 par due 10/2019) |
|
10.50% (Libor + 9.50%/Q) |
|
11/4/2011 |
|
11,000 |
|
11,000 |
(2)(26) |
|
|
|
|
|
|
|
|
|
|
|
|
|
26,000 |
|
26,000 |
|
|
|
|
Reed Group Holdings, LLC |
|
Medical disability management services provider |
|
Equity interests |
|
|
|
4/1/2010 |
|
— |
|
— |
(2) |
|
|
|
Respicardia, Inc. |
|
Developer of implantable therapies to improve cardiovascular health |
|
First lien senior secured loan ($2,600 par due 7/2015) |
|
11.00% |
|
6/28/2012 |
|
2,594 |
|
2,600 |
(2) |
|
|
|
|
|
|
|
Warrants to purchase up to 99,094 shares of Series C preferred stock |
|
|
|
6/28/2012 |
|
38 |
|
29 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
2,632 |
|
2,629 |
|
|
|
|
Sage Products Holdings III, LLC |
|
Patient infection control and preventive care solutions provider |
|
Second lien senior secured loan ($75,000 par due 6/2020) |
|
9.25% (Libor + 8.00%/Q) |
|
12/13/2012 |
|
75,000 |
|
75,000 |
(2)(26) |
|
|
|
Sarnova HC, LLC, Tri-Anim Health Services, Inc., and BEMS Holdings, LLC |
|
Distributor of emergency medical service and respiratory products |
|
Second lien senior secured loan ($60,000 par due 9/2018) |
|
8.75% (Libor + 8.00%/Q) |
|
6/30/2014 |
|
60,000 |
|
60,000 |
(2)(26) |
|
|
|
Sorbent Therapeutics, Inc. |
|
Orally-administered drug developer |
|
First lien senior secured loan ($5,980 par due 9/2016) |
|
10.25% |
|
4/23/2013 |
|
5,980 |
|
5,980 |
(2) |
|
|
|
|
|
|
|
Warrant to purchase up to 727,272 shares of Series C preferred stock |
|
|
|
4/23/2013 |
|
— |
|
— |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
5,980 |
|
5,980 |
|
|
|
|
SurgiQuest, Inc. |
|
Medical device company |
|
Warrants to purchase up to 54,672 shares of Series D-4 convertible preferred stock |
|
|
|
9/28/2012 |
|
— |
|
— |
(2) |
|
|
|
U.S. Anesthesia Partners, Inc. |
|
Anesthesiology service provider |
|
First lien senior secured loan ($20,000 par due 12/2019) |
|
6.00% (Libor + 5.00%/Q) |
|
6/26/2014 |
|
20,000 |
|
20,000 |
(2)(26) |
|
|
|
|
|
|
|
First lien senior secured loan ($29,850 par due 12/2019) |
|
7.25% (Base Rate + 4.00%/Q) |
|
12/31/2013 |
|
29,850 |
|
29,850 |
(2)(26) |
|
|
|
|
|
|
|
|
|
|
|
|
|
49,850 |
|
49,850 |
|
|
|
|
Wrigley Purchaser, LLC and Wrigley Management, LLC |
|
Provider of outpatient rehabilitation services |
|
First lien senior secured loan ($7,117 par due 5/2020) |
|
6.125% (Libor + 5.375%/Q) |
|
5/19/2014 |
|
7,117 |
|
7,117 |
(2)(26) |
|
|
|
Young Innovations, Inc. |
|
Dental supplies and equipment manufacturer |
|
Second lien senior secured loan ($45,000 par due 7/2019) |
|
9.00% (Libor + 8.00%/Q) |
|
5/30/2014 |
|
45,000 |
|
45,000 |
(2)(26) |
|
|
|
|
|
|
|
|
|
|
|
|
|
1,023,234 |
|
1,030,248 |
|
20.88 |
% |
As of June 30, 2014
(dollar amounts in thousands)
(unaudited)
|
Company(1) |
|
Business Description |
|
Investment |
|
Interest (5)(10) |
|
Acquisition |
|
Amortized |
|
Fair Value |
|
Percentage |
|
|
Services-Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
American Residential Services L.L.C. |
|
Heating, ventilation and air conditioning services provider |
|
First lien senior secured loan ($17,500 par due 6/2021) |
|
5.25% (Libor + 4.25%/Q) |
|
6/30/2014 |
|
17,412 |
|
17,500 |
(2)(26) |
|
|
|
|
|
|
|
Second lien senior secured loan ($50,000 par due 12/2021) |
|
9.00% (Libor + 8.00%/Q) |
|
6/30/2014 |
|
49,500 |
|
50,000 |
(2)(26) |
|
|
|
|
|
|
|
|
|
|
|
|
|
66,912 |
|
67,500 |
|
|
|
|
Capital Investments and Ventures Corp. |
|
SCUBA diver training and certification provider |
|
First lien senior secured loan ($23,539 par due 8/2018) |
|
7.00% (Libor + 5.75%/Q) |
|
8/9/2012 |
|
23,539 |
|
23,539 |
(3)(26) |
|
|
|
|
|
|
|
First lien senior secured loan ($8,373 par due 8/2018) |
|
7.00% (Libor + 5.75%/Q) |
|
8/9/2012 |
|
8,373 |
|
8,373 |
(4)(26) |
|
|
|
|
|
|
|
|
|
|
|
|
|
31,912 |
|
31,912 |
|
|
|
|
Community Education Centers, Inc. |
|
Offender re-entry and in-prison treatment services provider |
|
First lien senior secured loan ($13,571 par due 12/2014) |
|
6.25% (Libor + 5.25%/Q) |
|
12/10/2010 |
|
13,571 |
|
13,571 |
(2)(15)(26) |
|
|
|
|
|
|
|
First lien senior secured loan ($714 par due 12/2014) |
|
7.50% (Base Rate + 4.25%/S) |
|
12/10/2010 |
|
714 |
|
714 |
(2)(15)(26) |
|
|
|
|
|
|
|
Second lien senior secured loan ($47,170 par due 12/2015) |
|
10.23% (Libor + 10.00%/Q) |
|
12/10/2010 |
|
47,170 |
|
42,452 |
(2) |
|
|
|
|
|
|
|
Warrants to purchase up to 654,618 shares |
|
|
|
12/10/2010 |
|
— |
|
— |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
61,455 |
|
56,737 |
|
|
|
|
Competitor Group, Inc. and Calera XVI, LLC |
|
Endurance sports media and event operator |
|
First lien senior secured revolving loan ($2,850 par due 11/2018) |
|
10.00% (Base Rate + 6.75%/Q) |
|
11/30/2012 |
|
2,850 |
|
2,622 |
(2)(26) |
|
|
|
|
|
|
|
First lien senior secured revolving loan ($900 par due 11/2018) |
|
9.00% (Libor + 7.75%/Q) |
|
11/30/2012 |
|
900 |
|
828 |
(2)(26) |
|
|
|
|
|
|
|
First lien senior secured loan ($24,362 par due 11/2018) |
|
10.00% (Libor + 7.75% Cash, 1.00% PIK /Q) |
|
11/30/2012 |
|
24,362 |
|
22,413 |
(2)(26) |
|
|
|
|
|
|
|
First lien senior secured loan ($29,831 par due 11/2018) |
|
10.00% (Libor + 7.75% Cash, 1.00% PIK /Q) |
|
11/30/2012 |
|
29,831 |
|
27,444 |
(3)(26) |
|
|
|
|
|
|
|
Membership units (2,500,000 units) |
|
|
|
11/30/2012 |
|
2,516 |
|
640 |
(2)(9) |
|
|
|
|
|
|
|
|
|
|
|
|
|
60,459 |
|
53,947 |
|
|
|
|
Crown Health Care Laundry Services, Inc. and Crown Laundry Holdings, LLC (6) |
|
Provider of outsourced linen management solutions to the healthcare industry |
|
First lien senior secured revolving loan |
|
|
|
3/13/2014 |
|
— |
|
— |
(2)(28) |
|
|
|
|
|
|
|
First lien senior secured loan ($24,439 par due 3/2019) |
|
8.25% (Libor + 7.00%/Q) |
|
3/13/2014 |
|
24,439 |
|
24,439 |
(2)(26) |
|
|
|
|
|
|
|
Class A preferred units (2,475,000 units) |
|
|
|
3/13/2014 |
|
2,475 |
|
2,475 |
(2) |
|
|
|
|
|
|
|
Class B common units (275,000 units) |
|
|
|
3/13/2014 |
|
275 |
|
275 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
27,189 |
|
27,189 |
|
|
|
|
Fox Hill Holdings, Inc. |
|
Third party claims administrator on behalf of insurance carriers |
|
First lien senior secured loan ($72,584 par due 6/2018) |
|
6.75% (Libor + 5.75%/Q) |
|
1/31/2014 |
|
72,584 |
|
72,584 |
(2)(26) |
|
|
|
|
|
|
|
First lien senior secured loan ($8,557 par due 6/2018) |
|
8.00% (Base Rate + 4.75%/Q) |
|
10/31/2013 |
|
8,557 |
|
8,557 |
(2)(26) |
|
|
|
|
|
|
|
|
|
|
|
|
|
81,141 |
|
81,141 |
|
|
|
|
ISS #2, LLC |
|
Provider of repairs, refurbishments and services to the broader industrial end user markets |
|
First lien senior secured loan ($24,875 par due 6/2018) |
|
6.50% (Libor + 5.50%/Q) |
|
6/5/2013 |
|
24,875 |
|
24,875 |
(2)(26) |
|
|
|
|
|
|
|
First lien senior secured loan ($44,550 par due 6/2018) |
|
6.50% (Libor + 5.50%/Q) |
|
6/5/2013 |
|
44,550 |
|
44,550 |
(3)(26) |
|
|
|
|
|
|
|
|
|
|
|
|
|
69,425 |
|
69,425 |
|
|
|
|
Massage Envy, LLC |
|
Franchisor in the massage industry |
|
First lien senior secured loan ($28,245 par due 9/2018) |
|
8.50% (Libor + 7.25%/Q) |
|
9/27/2012 |
|
28,245 |
|
28,245 |
(2)(26) |
|
|
|
|
|
|
|
First lien senior secured loan ($47,716 par due 9/2018) |
|
8.50% (Libor + 7.25%/Q) |
|
9/27/2012 |
|
47,716 |
|
47,716 |
(3)(26) |
|
|
As of June 30, 2014
(dollar amounts in thousands)
(unaudited)
|
Company(1) |
|
Business Description |
|
Investment |
|
Interest (5)(10) |
|
Acquisition |
|
Amortized |
|
Fair Value |
|
Percentage |
|
|
|
|
|
|
Common stock (3,000,000 shares) |
|
|
|
9/27/2012 |
|
3,000 |
|
3,740 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
78,961 |
|
79,701 |
|
|
|
|
McKenzie Sports Products, LLC |
|
Designer, manufacturer and distributor of taxidermy forms and supplies |
|
First lien senior secured loan ($7,716 par due 3/2017) |
|
5.75% (Libor + 4.75%/M) |
|
3/30/2012 |
|
7,716 |
|
7,716 |
(2)(26) |
|
|
|
|
|
|
|
First lien senior secured loan ($8,817 par due 3/2017) |
|
5.75% (Libor + 4.75%/M) |
|
3/30/2012 |
|
8,817 |
|
8,817 |
(4)(26) |
|
|
|
|
|
|
|
|
|
|
|
|
|
16,533 |
|
16,533 |
|
|
|
|
Spin HoldCo Inc. |
|
Laundry service and equipment provider |
|
Second lien senior secured loan ($140,000 par due 5/2020) |
|
8.00% (Libor + 7.00%/Q) |
|
5/14/2013 |
|
140,000 |
|
140,000 |
(2)(26) |
|
|
|
The Dwyer Group (6) |
|
Operator of multiple franchise concepts primarily related to home maintenance or repairs |
|
Senior subordinated loan ($39,900 par due 6/2018) |
|
11.75% |
|
12/22/2010 |
|
40,090 |
|
39,900 |
(2) |
|
|
|
|
|
|
|
Series A preferred units (13,292,377 units) |
|
8.00% PIK |
|
12/22/2010 |
|
4,707 |
|
22,718 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
44,797 |
|
62,618 |
|
|
|
|
Wash Multifamily Laundry Systems, LLC |
|
Laundry service and equipment provider |
|
Second lien senior secured loan ($78,000 par due 2/2020) |
|
7.75% (Libor + 6.75%/S) |
|
6/26/2012 |
|
78,000 |
|
78,000 |
(2)(26) |
|
|
|
|
|
|
|
|
|
|
|
|
|
756,784 |
|
764,703 |
|
15.50 |
% |
|
Business Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2329497 Ontario Inc. (8) |
|
Outsourced data center infrastructure and related services provider |
|
Second lien senior secured loan ($42,480 par due 6/2019) |
|
10.50% (Libor + 9.25%/M) |
|
12/13/2013 |
|
43,438 |
|
43,038 |
(26) |
|
|
|
Access CIG, LLC |
|
Records and information management services provider |
|
First lien senior secured loan ($987 par due 10/2017) |
|
7.00% (Libor + 5.75%/M) |
|
10/5/2012 |
|
987 |
|
987 |
(2)(26) |
|
|
|
BlackArrow, Inc. |
|
Advertising and data solutions software platform provider |
|
First lien senior secured loan ($8,000 par due 9/2017) |
|
9.25% |
|
3/13/2014 |
|
7,740 |
|
8,000 |
(2) |
|
|
|
|
|
|
|
Warrant to purchase up to 517,386 units of Series C preferred stock |
|
|
|
3/13/2014 |
|
— |
|
76 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
7,740 |
|
8,076 |
|
|
|
|
Cast & Crew Payroll, LLC and Centerstage Co-Investors, L.L.C. (6) |
|
Payroll and accounting services provider to the entertainment industry |
|
First lien senior secured loan ($12,762 par due 12/2017) |
|
5.75% (Libor + 4.75%/Q) |
|
12/24/2012 |
|
12,762 |
|
12,762 |
(2)(18)(26) |
|
|
|
|
|
|
|
First lien senior secured loan ($44,076 par due 12/2017) |
|
5.75% (Libor + 4.75%/Q) |
|
12/24/2012 |
|
44,076 |
|
44,076 |
(3)(18)(26) |
|
|
|
|
|
|
|
Class A membership units (2,500,000 units) |
|
|
|
12/24/2012 |
|
2,500 |
|
5,647 |
(2) |
|
|
|
|
|
|
|
Class B membership units (2,500,000 units) |
|
|
|
12/24/2012 |
|
2,500 |
|
5,647 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
61,838 |
|
68,132 |
|
|
|
|
CIBT Investment Holdings, LLC |
|
Expedited travel document processing services |
|
Class A shares (2,500 shares) |
|
|
|
12/15/2011 |
|
2,500 |
|
3,787 |
(2) |
|
|
|
Command Alkon, Inc. |
|
Software solutions provider to the ready-mix concrete industry |
|
Second lien senior secured loan ($10,000 par due 3/2018) |
|
8.75% (Libor + 7.50%/Q) |
|
9/28/2012 |
|
10,000 |
|
10,000 |
(2)(26) |
|
|
|
|
|
|
|
Second lien senior secured loan ($26,500 par due 5/2019) |
|
8.75% (Libor + 7.50%/Q) |
|
9/28/2012 |
|
26,500 |
|
26,500 |
(2)(26) |
|
|
|
|
|
|
|
|
|
|
|
|
|
36,500 |
|
36,500 |
|
|
|
|
Coverall North America, Inc. |
|
Commercial janitorial services provider |
|
Letter of credit facility |
|
|
|
1/17/2013 |
|
— |
|
— |
(30) |
|
|
|
First Insight, Inc. |
|
SaaS company providing merchandising and pricing solutions to companies worldwide |
|
First lien senior secured loan ($3,500 par due 4/2017) |
|
9.50% |
|
3/20/2014 |
|
3,403 |
|
3,500 |
(2) |
|
|
|
|
|
|
|
Warrants to purchase up to 122,827 units of Series C preferred stock |
|
|
|
3/20/2014 |
|
— |
|
7 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
3,403 |
|
3,507 |
|
|
|
|
GHS Interactive Security, LLC and LG Security Holdings, LLC |
|
Originates residential security alarm contracts |
|
First lien senior secured loan ($5,598 par due 5/2018) |
|
7.50% (Libor + 6.00%/Q) |
|
12/13/2013 |
|
5,653 |
|
5,598 |
(26) |
|
|
|
|
|
|
|
Class A membership units (1,560,000 units) |
|
|
|
12/13/2013 |
|
1,607 |
|
1,446 |
|
|
|
As of June 30, 2014
(dollar amounts in thousands)
(unaudited)
|
Company(1) |
|
Business Description |
|
Investment |
|
Interest (5)(10) |
|
Acquisition |
|
Amortized |
|
Fair Value |
|
Percentage |
|
|
|
|
|
|
|
|
|
|
|
|
7,260 |
|
7,044 |
|
|
|
|
HCPro, Inc. and HCP Acquisition Holdings, LLC (7) |
|
Healthcare compliance advisory services |
|
Senior subordinated loan ($9,197 par due 8/2014) |
|
|
|
3/5/2013 |
|
2,691 |
|
— |
(2)(25) |
|
|
|
|
|
|
|
Class A units (14,293,110 units) |
|
|
|
6/26/2008 |
|
12,793 |
|
— |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
15,484 |
|
— |
|
|
|
|
IfByPhone Inc. |
|
Voice-based marketing automation software provider |
|
Warrant to purchase up to 124,300 shares of Series C preferred stock |
|
|
|
10/15/2012 |
|
88 |
|
58 |
(2) |
|
|
|
Investor Group Services, LLC (6) |
|
Business consulting for private equity and corporate clients |
|
Limited liability company membership interest (8.5% interest) |
|
|
|
6/22/2006 |
|
— |
|
682 |
|
|
|
|
IronPlanet, Inc. |
|
Online auction platform provider for used heavy equipment |
|
First lien senior secured revolving loan ($5,000 par due 9/2015) |
|
8.00% |
|
9/24/2013 |
|
5,000 |
|
5,000 |
(2) |
|
|
|
|
|
|
|
First lien senior secured loan ($7,500 par due 7/2017) |
|
9.25% |
|
9/24/2013 |
|
7,194 |
|
7,425 |
(2) |
|
|
|
|
|
|
|
Warrant to purchase to up to 133,333 shares of Series C preferred stock |
|
|
|
9/24/2013 |
|
214 |
|
243 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
12,408 |
|
12,668 |
|
|
|
|
Itel Laboratories, Inc. |
|
Data services provider for building materials to the property insurance industry |
|
Preferred units (1,798,391 units) |
|
|
|
6/29/2012 |
|
1,000 |
|
1,214 |
(2) |
|
|
|
Keynote Systems, Inc. and Hawaii Ultimate Parent Corp., Inc. |
|
Web and mobile cloud performance testing and monitoring services provider |
|
First lien senior secured loan ($182,760 par due 2/2020) |
|
9.50% (Libor + 8.50%/Q) |
|
8/22/2013 |
|
182,760 |
|
182,760 |
(2)(26) |
|
|
|
|
|
|
|
Class A common stock (2,970 shares) |
|
|
|
8/22/2013 |
|
2,970 |
|
4,138 |
(2) |
|
|
|
|
|
|
|
Class B common stock (1,956,522 shares) |
|
|
|
8/22/2013 |
|
30 |
|
42 |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
185,760 |
|
186,940 |
|
|
|
|
Market Track Holdings, LLC |
|
Business media consulting services company |
|
Preferred stock (1,500 shares) |
|
|
|
12/13/2013 |
|
1,982 |
|
2,367 |
|
|
|
|
|
|
|
|
Common stock (15,000 shares) |
|
|
|
12/13/2013 |
|
1,982 |
|
2,367 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,964 |
|
4,734 |
|
|
|
|
Maximus Holdings, LLC |
|
Provider of software simulation tools and related services |
|
Warrants to purchase up to 1,050,013 shares of common stock |
|
|
|
12/13/2013 |
|
— |
|
— |
|
|
|
|
Multi-Ad Services, Inc. (6) |
|
Marketing services and software provider |
|
Preferred units (1,725,280 units) |
|
|
|
4/1/2010 |
|
788 |
|
2,442 |
|
|
|
|
|
|
|
|
Common units (1,725,280 units) |
|
|
|
4/1/2010 |
|
— |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
788 |
|
2,442 |
|
|
|
|
MVL Group, Inc. (7) |
|
Marketing research provider |
|
Senior subordinated loan ($226 par due 7/2012) |
|
|
|
4/1/2010 |
|
226 |
|
226 |
(2)(25) |
|
|
|
|
|
|
|
Common stock (560,716 shares) |
|
|
|
4/1/2010 |
|
— |
|
— |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
226 |
|
226 |
|
|
|
|
NComputing, Inc. |
|
Desktop virtualization hardware and software technology service provider |
|
Warrant to purchase up to 462,726 shares of Series C preferred stock |
|
|
|
3/20/2013 |
|
— |
|
34 |
(2) |
|
|
|
OpenSky Project, Inc. |
|
Social commerce platform operator |
|
First lien senior secured loan ($3,000 par due 9/2017) |
|
10.00% |
|
6/4/2014 |
|
2,953 |