
	June 30, 2026
	(Unaudited)						December 31, 2025
	Amortized Cost(1)		Fair Value		Percentage of Portfolio		Amortized Cost(1)		Fair Value		Percentage of Portfolio
Senior Secured Loans—First Lien	$	7,184	$	6,707	58.7	%	$	7,819	$	7,523	57.8	%
Senior Secured Loans—Second Lien	594		440		3.9	%	598		539		4.2	%
Other Senior Secured Debt	43		44		0.4	%	65		55		0.4	%
Subordinated Debt	107		100		0.9	%	122		126		1.0	%
Asset Based Finance	1,626		1,436		12.6	%	1,831		1,694		13.0	%
Credit Opportunities Partners JV, LLC	1,984		1,649		14.4	%	2,202		1,968		15.1	%
Equity/Other	1,067		1,042		9.1	%	1,104		1,104		8.5	%
Total	$	12,605	$	11,418	100.0	%	$	13,741	$	13,009	100.0	%

In general, under the 1940 Act, the Company would be presumed to “control” a portfolio company if it owned more than 25% of its voting securities or it had the power to exercise control over the management or policies of such portfolio company, and would be an “affiliated person” of a portfolio company if it owned 5% or more of its voting securities.

As of June 30, 2026, the Company held investments in thirty-eight portfolio companies of which it may be deemed to “control.” As of June 30, 2026, the Company held investments in nine portfolio companies of which it may be deemed to be an “affiliated person” but is not deemed to “control.” For additional information with respect to such portfolio companies, see footnotes (ac) and (ad) to the unaudited consolidated schedule of investments as of June 30, 2026 in this quarterly report on Form 10-Q.

As of December 31, 2025, the Company held investments in thirty-four portfolio companies of which it is deemed to “control.” As of December 31, 2025, the Company held investments in ten portfolio companies of which it is deemed to be an “affiliated person” but is not deemed to “control.” For additional information with respect to such portfolio companies, see footnotes (ac) and (ad) to the consolidated schedule of investments as of December 31, 2025 in this quarterly report on Form 10-Q.

The Company’s investment portfolio may contain loans and other unfunded arrangements that are in the form of lines of credit, revolving credit facilities, delayed draw credit facilities or other investments, which require the Company to provide funding when requested by portfolio companies in accordance with the terms of the underlying agreements. As of June 30, 2026, the Company had unfunded debt investments with aggregate unfunded commitments of $1,110.5, unfunded equity/other commitments of $70.7 and unfunded commitments of $434.0 to Credit Opportunities Partners JV, LLC, or COPJV. As of December 31, 2025, the Company had unfunded debt investments with aggregate unfunded commitments of $1,447.4, unfunded equity/other commitments of $87.5 and unfunded commitments of $245.0 to COPJV. The Company maintains sufficient cash on hand and available borrowings to fund such unfunded commitments should the need arise. For additional details regarding the Company’s unfunded debt investments, see the Company’s unaudited consolidated schedule of investments as of June 30, 2026 and the Company’s audited consolidated schedule of investments as of December 31, 2025.


	June 30, 2026
	(Unaudited)				December 31, 2025
Industry Classification(1)	Fair Value		Percentage of Portfolio		Fair Value		Percentage of Portfolio


Capital Goods	$	1,358	11.9	%	$	1,542	11.9	%
Commercial & Professional Services	1,344		11.8	%	1,726		13.3	%
Consumer Discretionary Distribution & Retail	37		0.3	%	60		0.5	%
Consumer Durables & Apparel	313		2.7	%	306		2.4	%
Consumer Services	226		2.0	%	263		2.0	%
Consumer Staples Distribution & Retail	33		0.3	%	99		0.8	%
Credit Opportunities Partners JV, LLC	1,649		14.4	%	1,968		15.1	%
Energy	2		0.0	%	24		0.2	%
Equity Real Estate Investment Trusts (REITs)	240		2.1	%	264		2.0	%
Financial Services	742		6.5	%	836		6.4	%
Food, Beverage & Tobacco	23		0.2	%	56		0.4	%
Health Care Equipment & Services	1,606		14.1	%	1,668		12.8	%
Household & Personal Products	10		0.1	%	112		0.9	%
Insurance	500		4.4	%	547		4.2	%
Materials	270		2.4	%	276		2.1	%
Media & Entertainment	469		4.1	%	508		3.9	%
Pharmaceuticals, Biotechnology & Life Sciences	220		1.9	%	217		1.7	%
Real Estate Management & Development	—		—		1		0.0	%

Software & Services	2,020		17.7	%	2,134		16.4	%
Technology Hardware & Equipment	22		0.2	%	2		0.0	%
Telecommunication Services	63		0.5	%	109		0.8	%
Transportation	271		2.4	%	291		2.2	%

Total	$	11,418	100.0	%	$	13,009	100.0	%

COPJV is a joint venture between the Company and South Carolina Retirement Systems Group Trust, or SCRS. Pursuant to the terms of the second amended and restated limited liability company agreement, as amended, or the COPJV Agreement, the Company and SCRS each have 50% voting control of COPJV and are required to agree on all investment decisions as well as certain other significant actions for COPJV. COPJV invests its capital in a range of investments, including senior secured loans (both first lien and second lien) to middle market companies, broadly syndicated loans, equity, warrants and other investments. On February 23, 2026, the Company sold $189 of its equity interests in COPJV to SCRS. In connection therewith, SCRS increased its capital commitment by a net amount of $175. Giving effect to the transaction, COPJV had total capital commitments of $2,975, $2,450 of which was from the Company and the remaining $525 of which was from SCRS. Based on current funded capital, SCRS’ ownership percentage of COPJV is approximately 21% and the Company’s ownership percentage is approximately 79%. As of June 30, 2026, the Company and SCRS have funded $2,520.0 to COPJV, of which $2,016.0 was from the Company.

During the six months ended June 30, 2026 and year ended December 31, 2025, the Company sold investments with a cost of $84.6 for proceeds of $84.7 to COPJV and recognized a net realized gain (loss) of $0.1, and sold investments with a cost of $1,805.4 for proceeds of $1,829.2 to COPJV and recognized a net realized gain (loss) of $23.8, respectively, in connection with the transactions. As of June 30, 2026, $177.3 sales to COPJV are included in the Company’s receivable for investments sold in the consolidated statements of assets and liabilities. During the six months ended June 30, 2026, the Company purchased investments totaling $76.0 from COPJV. During the six months ended June 30, 2026, COPJV recognized a net realized gain (loss) of $(0.5) for these transactions. As administrative agent of COPJV, the Company performs certain day-to-day management responsibilities on behalf of COPJV and is entitled to a fee of 0.25% of COPJV’s assets under administration, calculated and payable quarterly in arrears. For the six months ended June 30, 2026 and 2025, the Company earned $6.7 and $5.1 of administrative services fees, respectively.


	As of
	June 30, 2026 (Unaudited)		December 31, 2025
Selected Balance Sheet Information
Total investments, at fair value	$	4,428.1	$	5,058.0
Cash and other assets	368.5		196.6
Total assets	4,796.6		5,254.6
Debt	2,493.8		2,764.9
Other liabilities	218.4		240.6
Total liabilities	2,712.2		3,005.5
Member’s equity	$	2,084.4	$	2,249.1


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Selected Statement of Operations Information
Investment income
Total investment income	$	104.9	$	109.0	$	213.7	$	191.2
Expenses
Interest expense	39.6		35.1		78.4		63.4
Custodian and accounting fees	0.3		0.3		0.7		0.7
Administrative services	3.6		2.8		6.7		5.1
Professional services	0.5		0.1		0.6		0.2
Other general and administrative expenses	0.5		1.6		0.7		1.8
Total expenses	44.5		39.9		87.1		71.2
Net investment income	60.4		69.1		126.6		120.0
Net realized and unrealized gain (loss)	(76.8)		(34.2)		(162.3)		(33.1)
Net increase in net assets resulting from operations	$	(16.4)	$	34.9	$	(35.7)	$	86.9