v3.26.3
Investments (Tables)
 9 Months Ended
Sep. 30, 2026
Schedule of Investments [Abstract]  
Schedule of Investments
At September 30, 2026, the Company's investments consisted of the following:
Investment Cost and Fair Value by Type
CostFair Value
First lien$1,500,316 $1,430,905 
Second lien83,849 68,064 
Subordinated101,477 101,722 
Structured Finance Obligations3,232 3,217 
Equity and other765,116 656,054 
Total investments$2,453,990 $2,259,962 

Investment Cost and Fair Value by Industry
CostFair Value
Business Services$521,261 $476,150 
Software405,342 376,858 
Healthcare394,706 363,588 
Investment Funds (includes investments in joint ventures)275,632 260,701 
Consumer Services145,272 140,394 
Financial Services & Technology131,318 136,281 
Net Lease80,336 121,149 
Education200,836 118,364 
Distribution & Logistics114,058 100,692 
Packaging89,951 84,036 
Energy80,332 69,283 
Consumer Products14,946 12,466 
Total investments$2,453,990 $2,259,962 
At December 31, 2025, the Company’s investments consisted of the following:
Investment Cost and Fair Value by Type
CostFair Value
First lien$1,854,022 $1,818,215 
Second lien104,890 91,179 
Subordinated128,705 121,487 
Structured Finance Obligations 3,232 3,277 
Equity and other821,266 707,855 
Total investments$2,912,115 $2,742,013 

Investment Cost and Fair Value by Industry
CostFair Value
Software$533,638 $526,440 
Business Services573,549 516,701 
Healthcare517,598 463,591 
Investment Funds (includes investments in joint ventures)275,632 275,677 
Consumer Services193,415 192,842 
Financial Services & Technology165,745 172,215 
Distribution & Logistics162,382 158,599 
Education195,960 118,507 
Net Lease81,370 115,127 
Packaging76,052 75,324 
Energy75,771 65,833 
Food & Beverage21,193 21,177 
Business Products15,897 16,026 
Consumer Products14,283 14,283 
Specialty Chemicals & Materials9,630 9,671 
Total investments$2,912,115 $2,742,013 
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 September 30, 2026 and December 31, 2025:
September 30, 2026December 31, 2025
First lien investments (1)$930,815 $971,559 
Weighted average interest rate on first lien investments (2)7.68 %8.36 %
Number of portfolio companies in SLP III105 105 
Largest portfolio company investment (1)$19,316 $19,791 
Total of five largest portfolio company investments (1)$88,167 $93,239 
(1)Reflects principal amount 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 September 30, 2026:
Portfolio Company and Type of InvestmentIndustryReference SpreadInterest Rate (1)Maturity Date Principal Amount CostFair
Value (2)
Funded Investments - First lien
Accelya Lux Finco S.a r.l.Business ServicesSOFR(Q)5.25%9.32%10/2032$16,363 $16,068 $14,809 
ADMI Corp. (aka Aspen Dental)HealthcareSOFR(M)3.75%7.77%12/20272,309 2,306 2,188 
Allium Buyer LLCBusiness ServicesSOFR(Q)4.25%8.30%09/20319,467 9,325 9,502 
AmSpec Parent, LLCEnergySOFR(Q)3.00%7.07%12/20319,422 9,407 9,457 
Ardonagh Midco 3 LimitedBusiness ServicesSOFR(S)3.00%6.84%02/20311,975 1,968 1,961 
Asurion, LLCBusiness ServicesSOFR(Q)3.75%7.57%02/20334,411 4,390 4,097 
athenahealth Group Inc.HealthcareSOFR(M)3.25%7.15%02/20323,078 3,078 3,078 
BCPE Empire Holdings, Inc.Distribution & LogisticsSOFR(M)3.25%7.15%12/203010,889 10,841 10,548 
BCPE Empire Holdings, Inc.Distribution & LogisticsSOFR(M)3.50%7.40%12/20327,146 7,048 6,894 
Bella Holding Company, LLCHealthcareSOFR(M)3.25%7.15%06/20337,683 7,609 7,701 
Berlin Packaging L.L.C.PackagingSOFR(Q)3.25%7.22%06/20318,669 8,668 8,616 
BIFM CA Buyer Inc.Business ServicesSOFR(M)3.25%7.15%05/20288,981 8,969 8,989 
Cardinal Parent, Inc.Financial Services & TechnologySOFR(Q)4.50%8.72%11/202711,535 11,466 10,375 
Chrysaor Bidco S.a r.l.Financial Services & TechnologySOFR(Q)3.00%6.76%10/20312,099 2,099 2,109 
Citrin Cooperman Advisors LLCFinancial Services & TechnologySOFR(Q)3.00%7.07%04/20324,838 4,814 4,786 
Cleanova US Holdings LLCBusiness ProductsSOFR(Q)4.75%8.61%06/203217,367 17,219 17,378 
Cloudera, Inc.SoftwareSOFR(M)3.75%7.75%10/202813,952 13,836 13,039 
Clydesdale Acquisition Holdings, Inc.PackagingSOFR(M)3.25%7.15%04/20329,266 9,262 9,107 
Cohnreznick Advisory LLCFinancial Services & TechnologySOFR(Q)3.25%7.32%03/20327,162 7,142 7,114 
Confluent Health, LLCHealthcareSOFR(M)4.00%8.02%11/20284,567 4,558 4,266 
ConnectWise, LLCSoftwareSOFR(Q)3.50%7.84%09/202811,422 11,415 11,240 
Convey Health Solutions, Inc. (3)HealthcareSOFR(Q)
1.31% + 2.63%/PIK
8.11%07/20299,058 8,706 978 
CoreLogic, Inc. (fka First American Corporation, The)Business ServicesSOFR(M)4.25%8.15%07/20319,000 8,820 8,539 
Cornerstone OnDemand, Inc.SoftwareSOFR(M)3.75%7.77%10/20282,513 2,509 1,594 
Cub Financing Intermediate, LLCFinancial Services & TechnologySOFR(Q)4.25%8.33%08/2033925 916 931 
CVET Midco 2, L.P.Distribution & LogisticsSOFR(Q)5.00%9.07%10/20299,631 9,388 9,375 
Dayforce Bidco, LLCSoftwareSOFR(Q)3.00%6.82%02/20335,535 5,373 5,337 
Dealer Tire Financial, LLCDistribution & LogisticsSOFR(M)3.00%6.90%07/203111,349 11,307 11,259 
DG Investment Intermediate Holdings 2, Inc.Business ServicesSOFR(M)3.00%6.90%07/203211,928 11,892 11,958 
Discovery Purchaser CorporationSpecialty Chemicals & MaterialsSOFR(Q)3.75%7.48%10/202910,125 9,909 10,102 
EAB Global, Inc.EducationSOFR(M)3.00%6.90%08/203010,006 9,834 8,916 
Eagle Parent Corp.Business ServicesSOFR(Q)4.25%8.32%04/202913,758 13,635 13,851 
Eisner Advisory Group LLCFinancial Services & TechnologySOFR(M)4.00%7.90%02/203111,257 11,168 11,252 
Embecta Corp.HealthcareSOFR(Q)3.00%7.07%03/20293,753 3,760 3,184 
Finastra USA, Inc.Financial Services & TechnologySOFR(S)4.00%7.75%09/203212,311 12,208 11,905 
Flash Charm, Inc.SoftwareSOFR(Q)3.50%7.31%03/20286,501 6,499 5,742 
FNZ Group Entities LimitedFinancial Services & TechnologySOFR(Q)5.00%8.76%11/203110,101 9,940 6,530 
Foundational Education Group, Inc.EducationSOFR(Q)4.25%8.33%08/202813,953 13,896 13,032 
Groundworks, LLCBusiness ServicesSOFR(M)3.50%7.40%03/203110,024 9,997 10,038 
Heartland Dental, LLCHealthcareSOFR(M)3.00%6.82%08/20323,718 3,713 3,715 
Help/Systems Holdings, Inc.SoftwareSOFR(Q)6.00%9.86%05/202911,057 11,041 8,379 
HIG Finance 2 LimitedFinancial Services & TechnologySOFR(M)2.75%6.65%02/20316,451 6,279 6,225 
HIG Operations Holdings, Inc.Business ServicesSOFR(M)4.50%8.40%06/203111,760 11,722 11,760 
Portfolio Company and Type of InvestmentIndustryReference SpreadInterest Rate (1)Maturity Date Principal Amount CostFair
Value (2)
HIG Operations Holdings, Inc.Business ServicesSOFR(M)4.50%8.40%06/2031$1,115 $1,110 $1,115 
Houghton Mifflin Harcourt CompanyEducationSOFR(M)5.25%9.25%04/20297,924 7,792 5,398 
HP PHRG Borrower, LLCConsumer ServicesSOFR(Q)4.00%8.07%02/203216,516 16,420 16,449 
Inizio Group LimitedHealthcareSOFR(Q)4.25%8.42%08/202812,747 12,690 12,476 
Jones DesLauriers Insurance Management Inc.Business ServicesSOFR(Q)3.00%6.82%02/20336,461 6,357 6,386 
Kaseya Inc.SoftwareSOFR(Q)3.25%7.07%03/203212,723 12,702 10,651 
KnowBe4, Inc.EducationSOFR(Q)3.75%7.57%07/20327,119 7,118 5,047 
LI Group Holdings, Inc.EducationSOFR(M)3.50%7.52%03/20282,998 2,996 2,990 
LSCS Holdings, Inc.HealthcareSOFR(Q)4.50%8.57%03/203214,751 14,671 14,668 
LTR Intermediate Holdings, Inc.Specialty Chemicals & MaterialsSOFR(M)3.75%7.64%12/20327,878 7,842 7,907 
Marcel Bidco LLC (Marcel Bidco GmbH)SoftwareSOFR(M)3.00%6.87%11/20302,034 2,019 1,986 
Mavis Tire Express Services Topco, Corp.RetailSOFR(Q)3.25%6.92%05/203313,937 13,868 13,823 
MED ParentCo, LPHealthcareSOFR(M)3.00%6.90%04/20316,512 6,494 6,508 
Michael Baker International, LLCBusiness ServicesSOFR(Q)4.00%7.82%12/20285,492 5,492 5,499 
Michael Baker International, LLCBusiness ServicesSOFR(M)4.50%8.40%12/20282,163 2,112 2,166 
Neon Maple Purchaser Inc.Financial Services & TechnologySOFR(M)2.50%6.40%11/20315,717 5,721 5,570 
Nexus Buyer LLCFinancial Services & TechnologySOFR(M)4.00%7.90%07/203113,906 13,844 13,779 
Nielsen Consumer, Inc.Business ServicesSOFR(M)2.25%6.15%10/20305,728 5,399 5,711 
Oceankey (U.S.) II Corp.SoftwareSOFR(M)3.50%7.50%12/202813,904 13,908 13,757 
OCM System One Buyer CTB, LLC (Sentinel Purchaser II Holdco, LLC)Business ServicesSOFR(M)3.75%7.65%08/20337,574 7,536 7,564 
Orbit Private Holdings I LtdFinancial Services & TechnologySOFR(S)3.75%7.60%12/20319,315 9,284 9,332 
Osaic Holdings, Inc.Financial Services & TechnologySOFR(Q)2.50%6.57%07/20325,547 5,547 5,504 
Osmose Utilities Services, Inc.Specialty Chemicals & MaterialsSOFR(M)3.25%7.27%06/202813,842 13,471 13,826 
OSTTRA Group LtdFinancial Services & TechnologySOFR(Q)3.00%6.75%10/203210,277 10,267 10,290 
Outcomes Group Holdings, Inc.HealthcareSOFR(Q)3.00%6.76%05/20314,057 4,045 4,081 
OVG Business Services, LLCBusiness ServicesSOFR(M)3.00%6.90%06/20312,748 2,736 2,763 
Paradigm Parent, LLCDistribution & LogisticsSOFR(Q)4.50%8.57%04/2032625 556 584 
Pearls (Netherlands) Bidco B.V.Specialty Chemicals & MaterialsSOFR(Q)3.25%7.07%02/20291,202 1,162 1,141 
Perforce Software, Inc.SoftwareSOFR(M)4.75%8.65%03/20314,004 3,992 2,055 
Physician Partners, LLCHealthcareSOFR(Q)6.00%10.07%12/20293,336 3,233 3,385 
Physician Partners, LLCHealthcareSOFR(Q)4.00%8.22%12/20292,840 2,828 2,746 
Pioneer AcquisitionCo, LLCBusiness ServicesSOFR(Q)2.50%6.57%10/20324,707 4,696 4,683 
Planview Parent, Inc.SoftwareSOFR(Q)3.50%7.57%12/202713,401 13,335 11,223 
Pretium PKG Holdings, Inc.PackagingSOFR(Q)5.25%8.98%03/20315,600 5,574 5,556 
Project Alpha Intermediate Holding, Inc.SoftwareSOFR(Q)3.25%7.32%10/203013,403 13,229 9,473 
Pushpay USA Inc.Financial Services & TechnologySOFR(Q)3.75%7.57%08/203113,798 13,781 12,510 
Quartz AcquireCo, LLCBusiness ServicesSOFR(Q)2.25%6.32%06/20302,619 2,610 2,280 
RealPage, Inc.SoftwareSOFR(Q)3.00%7.34%04/20285,509 5,500 5,444 
RealPage, Inc.SoftwareSOFR(Q)3.75%7.82%04/20287,422 7,342 7,351 
Rithum Holdings, Inc. (fka CommerceHub, Inc.)SoftwareSOFR(Q)4.75%8.82%07/203215,626 15,535 14,743 
RLG Holdings, LLCPackagingSOFR(Q)4.25%8.33%07/20287,050 6,862 3,211 
RxB Holdings, Inc.HealthcareSOFR(M)5.00%8.90%12/20305,092 5,002 5,098 
Portfolio Company and Type of InvestmentIndustryReference SpreadInterest Rate (1)Maturity Date Principal Amount CostFair
Value (2)
Secretariat Advisors LLCBusiness ServicesSOFR(Q)4.00%8.07%02/2032$9,717 $9,686 $9,422 
Secure Acquisition, Inc.PackagingSOFR(M)3.75%7.65%12/20283,819 3,818 3,831 
SonarSource Financing, LLCSoftwareSOFR(Q)4.50%8.23%12/203011,054 10,909 10,778 
Sovos Compliance, LLC (fka Taxware, LLC)SoftwareSOFR(M)3.25%7.15%08/202911,036 10,945 10,746 
Spring Education Group, Inc.EducationSOFR(Q)3.25%7.32%10/203013,062 12,966 13,074 
STATS Intermediate Holdings, LLCBusiness ServicesSOFR(Q)7.00%10.74%04/20309,950 9,602 9,863 
Storable, Inc.SoftwareSOFR(M)3.25%7.15%04/20319,882 9,811 8,562 
Summit Acquisition Inc.Business ServicesSOFR(M)3.50%7.40%10/20316,421 6,397 6,443 
Sword Purchaser, LLCPackagingSOFR(M)4.00%7.90%04/20334,460 4,237 4,457 
Symplr Software, Inc.HealthcareSOFR(Q)4.50%8.42%12/202715,120 15,091 12,676 
Team.blue Finco SARLSoftwareSOFR(Q)3.25%7.32%07/20325,985 5,991 5,873 
Tegra118 Wealth Solutions, Inc.Financial Services & TechnologySOFR(Q)4.00%7.82%01/203311,727 11,641 11,797 
Tempo Acquisition, LLCBusiness ServicesSOFR(M)1.75%5.65%08/20284,032 3,420 3,209 
Therapy Brands Holdings LLCHealthcareSOFR(Q)4.00%8.03%05/20283,943 3,938 3,943 
Thermostat Purchaser III, Inc.Business ServicesSOFR(Q)4.25%8.32%08/202813,402 13,398 13,214 
Tricorbraun Holdings, Inc.PackagingSOFR(M)3.25%7.15%03/203111,035 11,001 10,582 
TruGreen Limited PartnershipConsumer ServicesSOFR(M)4.00%8.00%11/20275,316 5,087 5,192 
UKG Inc.SoftwareSOFR(Q)2.25%6.07%02/20315,269 5,183 5,121 
US Fertility Enterprises, LLCHealthcareSOFR(Q)3.00%7.07%12/20327,454 7,420 7,480 
Valcour Packaging, LLCPackagingSOFR(M)5.25%9.15%10/202811,195 11,267 11,297 
Valcour Packaging, LLCPackagingSOFR(M)3.75%7.76%10/20283,212 3,212 2,559 
Viant Medical Holdings, Inc.HealthcareSOFR(M)4.00%7.90%10/203111,367 11,349 11,184 
VSTG Intermediate Holdings, Inc.Business ServicesSOFR(Q)3.75%7.82%07/202911,102 11,095 10,928 
Xplor T1, LLCFinancial Services & TechnologySOFR(Q)3.25%7.05%12/203216,933 16,863 16,382 
Zelis Cost Management Buyer, Inc.HealthcareSOFR(M)3.25%7.15%11/203119,316 19,318 19,249 
Zest Acquisition Corp.HealthcareSOFR(M)6.00%9.90%02/20315,879 5,791 5,791 
Total Funded Investments$928,222 $920,114 $872,238 
Unfunded Investments - First lien
Citrin Cooperman Advisors LLCFinancial Services & Technology———04/2027$1,022 $(10)$(15)
Secretariat Advisors LLCBusiness Services———02/20271,188 1 (36)
US Fertility Enterprises, LLCHealthcare———12/2027383 (2)1 
Total Unfunded Investments$2,593 $(11)$(50)
Total Investments$930,815 $920,103 $872,188 
(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 September 30, 2026.
(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 managers does not determine the fair value of the investments held by SLP III.
(3)Investment is on non-accrual status as of September 30, 2026.
The following table is a listing of the individual investments in SLP III's portfolio as of December 31, 2025:
Portfolio Company and Type of InvestmentIndustryReferenceSpreadInterest Rate (1)Maturity DatePrincipal Amount or Par Value CostFair
Value (2)
Funded Investments - First lien
Accelya Lux Finco S.a r.l.Business ServicesSOFR(Q)5.25%8.92%10/2032$16,487 $16,162 $16,435 
ADMI Corp. (aka Aspen Dental)HealthcareSOFR(M)3.75%7.58%12/20272,327 2,323 2,214 
AmSpec Parent, LLCEnergySOFR(Q)3.50%7.17%12/20319,493 9,478 9,540 
Ardonagh Midco 3 LimitedBusiness ServicesSOFR(S)2.75%6.92%02/20311,990 1,982 1,990 
Asurion, LLCBusiness ServicesSOFR(M)4.25%8.07%08/202813,000 12,931 13,039 
Asurion, LLCBusiness ServicesSOFR(M)4.25%7.97%09/20303,618 3,517 3,621 
Asurion, LLCBusiness ServicesSOFR(M)4.25%7.97%09/20301,985 1,958 1,988 
athenahealth Group Inc.HealthcareSOFR(M)2.75%6.47%02/202912,117 12,005 12,155 
Bach Finance LimitedEducationSOFR(Q)2.75%6.57%01/20322,107 2,103 2,117 
BCPE Empire Holdings, Inc.Distribution & LogisticsSOFR(M)3.25%6.97%12/203011,821 11,761 11,718 
Bella Holding Company, LLCHealthcareSOFR(M)3.00%6.72%05/20287,722 7,707 7,760 
Berlin Packaging L.L.C.PackagingSOFR(M)3.25%7.11%06/20318,735 8,734 8,765 
BIFM CA Buyer Inc.Business ServicesSOFR(M)3.25%6.97%05/20289,049 9,032 9,123 
Boxer Parent Company Inc.SoftwareSOFR(Q)3.00%6.82%07/20317,416 7,400 7,405 
BradyPLUS Holdings, LLCDistribution & LogisticsSOFR(Q)3.50%7.15%12/20327,182 7,075 7,118 
BW Holding, Inc.PackagingSOFR(Q)6.50%10.34%12/2030603 597 616 
Capstone Borrower, Inc.SoftwareSOFR(Q)2.75%6.40%06/20303,124 3,109 3,126 
Cardinal Parent, Inc.Financial Services & TechnologySOFR(Q)4.50%8.32%11/202711,626 11,513 11,384 
Chrysaor Bidco S.a r.l.Financial Services & TechnologySOFR(Q)3.25%7.14%10/20312,115 2,115 2,133 
Citrin Cooperman Advisors LLCFinancial Services & TechnologySOFR(Q)3.00%6.67%04/20326,719 6,711 6,747 
Cleanova US Holdings LLCBusiness ProductsSOFR(Q)4.75%8.48%06/203218,741 18,565 18,741 
Cloudera, Inc.SoftwareSOFR(M)3.75%7.57%10/202814,062 13,904 13,511 
Clydesdale Acquisition Holdings, Inc.PackagingSOFR(M)3.25%6.97%04/20329,313 9,308 9,316 
Cohnreznick Advisory LLCFinancial Services & TechnologySOFR(Q)3.50%7.17%03/20329,114 9,092 9,177 
Confluent Health, LLCHealthcareSOFR(M)4.00%7.83%11/20284,603 4,592 4,120 
Confluent Medical Technologies, Inc.HealthcareSOFR(Q)3.00%6.67%02/20296,740 6,723 6,799 
ConnectWise, LLCSoftwareSOFR(Q)3.50%7.43%09/202811,512 11,502 11,332 
Convey Health Solutions, Inc.HealthcareSOFR(Q)
1.00% + 3.94%/PIK
8.71%07/20299,123 9,012 6,661 
Cornerstone OnDemand, Inc.SoftwareSOFR(M)3.75%7.58%10/20282,533 2,527 2,335 
CVET Midco 2, L.P.Distribution & LogisticsSOFR(Q)5.00%8.67%10/20299,706 9,410 8,749 
Dealer Tire Financial, LLCDistribution & LogisticsSOFR(M)3.00%6.72%07/203111,435 11,388 11,464 
DG Investment Intermediate Holdings 2, Inc.Business ServicesSOFR(M)3.75%7.47%07/203211,008 10,959 11,050 
Disco Parent, Inc.SoftwareSOFR(Q)3.25%7.07%08/20327,250 7,233 7,304 
Discovery Purchaser CorporationSpecialty Chemicals & MaterialsSOFR(Q)3.75%7.61%10/202913,856 13,496 13,349 
EAB Global, Inc.EducationSOFR(M)3.00%6.72%08/203010,083 9,881 8,990 
Eagle Parent Corp.Business ServicesSOFR(Q)4.25%7.92%04/202913,866 13,709 13,920 
Eisner Advisory Group LLCFinancial Services & TechnologySOFR(M)4.00%7.72%02/20318,546 8,494 8,617 
Embecta Corp.HealthcareSOFR(M)3.00%6.72%03/20294,002 4,012 4,015 
Finastra USA, Inc.Financial Services & TechnologySOFR(Q)4.00%7.72%09/203212,373 12,259 12,135 
First Advantage Holdings, LLCBusiness ServicesSOFR(M)2.75%6.47%10/20314,223 4,181 4,186 
Flash Charm, Inc.SoftwareSOFR(Q)3.50%7.35%03/202816,341 16,333 15,290 
FNZ Group Entities LimitedFinancial Services & TechnologySOFR(Q)5.00%8.90%11/203110,178 9,997 8,099 
Forgent Intermediate IV LLCBusiness ProductsSOFR(M)3.25%6.90%12/203212,749 12,621 12,685 
Foundational Education Group, Inc.EducationSOFR(Q)3.75%7.85%08/202814,063 13,984 13,001 
Groundworks, LLCBusiness ServicesSOFR(M)3.00%6.73%03/203110,100 9,871 10,163 
Portfolio Company and Type of InvestmentIndustryReferenceSpreadInterest Rate (1)Maturity DatePrincipal Amount or Par Value CostFair
Value (2)
Heartland Dental, LLCHealthcareSOFR(M)3.75%7.47%08/2032$13,896 $13,862 $13,970 
Help/Systems Holdings, Inc.SoftwareSOFR(Q)6.00%9.97%05/202911,140 11,121 10,120 
HIG Operations Holdings, Inc.Business ServicesSOFR(M)4.50%8.22%06/203111,849 11,806 11,849 
Houghton Mifflin Harcourt CompanyEducationSOFR(M)5.25%9.07%04/20297,986 7,818 7,069 
HP PHRG Borrower, LLCConsumer ServicesSOFR(Q)4.00%7.67%02/203216,641 16,534 16,572 
Inizio Group LimitedHealthcareSOFR(Q)4.25%8.02%08/202812,747 12,669 12,444 
Jones DesLauriers Insurance Management Inc.Business ServicesSOFR(Q)3.00%6.65%02/20332,687 2,680 2,693 
Kaseya Inc.SoftwareSOFR(M)3.00%6.72%03/203212,820 12,797 12,847 
Kestra Advisor Services Holdings A, Inc.Financial Services & TechnologySOFR(M)3.00%6.72%03/20313,749 3,742 3,760 
KnowBe4, Inc.EducationSOFR(Q)3.75%7.59%07/203213,128 13,125 13,152 
LI Group Holdings, Inc.EducationSOFR(M)3.50%7.33%03/20283,033 3,031 3,055 
LSCS Holdings, Inc.HealthcareSOFR(Q)4.50%8.17%03/203214,863 14,774 14,590 
LTR Intermediate Holdings, Inc.Specialty Chemicals & MaterialsSOFR(M)3.75%7.40%12/20327,917 7,878 7,949 
Marcel Bidco LLC (Marcel Bidco GmbH)SoftwareSOFR(M)3.00%6.93%11/20302,809 2,777 2,826 
Mavis Tire Express Services Topco, Corp.RetailSOFR(M)3.00%6.72%05/202812,593 12,549 12,653 
MED ParentCo, LPHealthcareSOFR(M)3.00%6.72%04/20319,880 9,840 9,921 
Michael Baker International, LLCBusiness ServicesSOFR(Q)4.00%7.84%12/20285,534 5,533 5,553 
Neon Maple Purchaser Inc.Financial Services & TechnologySOFR(M)2.50%6.22%11/20313,510 3,523 3,519 
Nexus Buyer LLCFinancial Services & TechnologySOFR(M)4.00%7.72%07/203114,012 13,941 13,927 
Nielsen Consumer, Inc.Business ServicesSOFR(M)2.25%5.97%10/20305,771 5,388 5,787 
Oceankey (U.S.) II Corp.SoftwareSOFR(M)3.50%7.32%12/202814,014 14,019 13,841 
Orbit Private Holdings I LtdFinancial Services & TechnologySOFR(S)3.75%7.55%12/20319,085 9,051 9,134 
Orion Advisor Solutions, Inc.Financial Services & TechnologySOFR(Q)3.25%6.90%09/20301,500 1,501 1,511 
Orion Midco LtdFinancial Services & TechnologySOFR(Q)3.50%7.43%10/20328,102 8,095 8,150 
Osaic Holdings, Inc.Financial Services & TechnologySOFR(S)3.00%6.60%07/203212,357 12,327 12,423 
Osmose Utilities Services, Inc.Specialty Chemicals & MaterialsSOFR(M)3.25%7.08%06/202813,951 13,430 13,742 
Outcomes Group Holdings, Inc.HealthcareSOFR(M)3.00%6.72%05/20314,088 4,074 4,119 
OVG Business Services, LLCBusiness ServicesSOFR(M)3.00%6.72%06/20312,769 2,755 2,778 
Pearls (Netherlands) Bidco B.V.Specialty Chemicals & MaterialsSOFR(Q)3.25%7.09%02/20298,959 8,576 8,123 
Perforce Software, Inc.SoftwareSOFR(M)4.75%8.47%03/20314,035 4,021 3,426 
Physician Partners, LLCHealthcareSOFR(Q)6.00%9.67%12/20292,360 2,303 1,974 
Physician Partners, LLCHealthcareSOFR(Q)
1.50% +2.50%/PIK
7.82%12/20292,805 2,790 1,353 
Pioneer AcquisitionCo, LLCBusiness ServicesSOFR(Q)3.25%6.94%10/20327,924 7,904 7,968 
Planview Parent, Inc.SoftwareSOFR(Q)3.50%7.17%12/202713,503 13,397 12,995 
Project Alpha Intermediate Holding, Inc.SoftwareSOFR(Q)3.25%6.92%10/203013,505 13,302 13,500 
Pushpay USA Inc.Financial Services & TechnologySOFR(S)3.75%7.62%08/203113,903 13,884 13,911 
Quartz AcquireCo, LLCBusiness ServicesSOFR(Q)2.25%5.92%06/20303,510 3,497 3,510 
RealPage, Inc.SoftwareSOFR(Q)3.00%6.93%04/20283,047 3,043 3,048 
RealPage, Inc.SoftwareSOFR(Q)3.75%7.42%04/20284,963 4,945 4,985 
Rithum Holdings, Inc. (fka CommerceHub, Inc.)SoftwareSOFR(Q)4.75%8.42%07/203215,744 15,644 15,769 
RLG Holdings, LLCPackagingSOFR(M)4.25%8.08%07/20287,106 6,843 4,372 
RxB Holdings, Inc.HealthcareSOFR(M)5.00%8.65%12/20305,156 5,053 5,098 
Secretariat Advisors LLCBusiness ServicesSOFR(Q)4.00%7.67%02/20328,957 8,920 8,994 
Secure Acquisition, Inc.PackagingSOFR(Q)3.75%7.42%12/2028500 501 505 
Portfolio Company and Type of InvestmentIndustryReferenceSpreadInterest Rate (1)Maturity DatePrincipal Amount or Par Value CostFair
Value (2)
SonarSource Financing, LLCSoftwareSOFR(M)4.50%8.15%12/2030$11,485 $11,313 $11,370 
Sovos Compliance, LLC (fka Taxware, LLC)SoftwareSOFR(M)3.25%6.97%08/20298,767 8,775 8,803 
Spring Education Group, Inc.EducationSOFR(Q)3.25%6.92%10/203013,163 13,051 13,254 
Storable, Inc.SoftwareSOFR(M)3.25%6.97%04/20314,607 4,606 4,635 
Summit Acquisition Inc.Business ServicesSOFR(M)3.50%7.22%10/20315,970 5,944 6,022 
Symplr Software, Inc.HealthcareSOFR(Q)4.50%8.44%12/202715,240 15,193 12,984 
Team.blue Finco SARLSoftwareSOFR(Q)3.25%6.92%07/20328,586 8,595 8,642 
Therapy Brands Holdings LLCHealthcareSOFR(M)4.00%7.83%05/20283,975 3,966 3,679 
Thermostat Purchaser III, Inc.Business ServicesSOFR(Q)4.25%7.92%08/202813,506 13,501 13,483 
TransDigm Inc.ManufacturingSOFR(M)2.50%6.22%08/20323,510 3,519 3,529 
TransDigm Inc.ManufacturingSOFR(M)2.50%6.22%02/20312,106 2,111 2,116 
TRC Companies LLCBusiness ServicesSOFR(M)3.00%6.72%12/20289,377 9,352 9,418 
Tricorbraun Holdings, Inc.PackagingSOFR(M)3.25%6.97%03/203111,122 11,083 10,798 
US Fertility Enterprises, LLCHealthcareSOFR(M)3.50%7.22%12/20326,875 6,841 6,910 
Valcour Packaging, LLCPackagingSOFR(M)5.25%8.99%10/20282,256 2,238 2,282 
Valcour Packaging, LLCPackagingSOFR(M)
1.50% + 2.25%/PIK
7.60%10/20283,178 3,178 2,480 
Viant Medical Holdings, Inc.HealthcareSOFR(M)4.00%7.72%10/203111,454 11,434 11,358 
VSTG Intermediate Holdings, Inc.Business ServicesSOFR(Q)3.75%7.42%07/202911,189 11,180 11,189 
VT Topco, Inc.Business ServicesSOFR(M)3.00%6.87%08/203010,672 10,520 10,541 
Xplor T1, LLCFinancial Services & TechnologySOFR(Q)3.50%7.29%12/203219,791 19,706 19,840 
Zelis Cost Management Buyer, Inc.HealthcareSOFR(M)3.25%6.97%11/203119,463 19,463 19,342 
Zest Acquisition Corp.HealthcareSOFR(Q)5.25%9.11%02/20285,236 5,160 5,236 
Total Funded Investments$964,692 $957,258 $941,399 
Unfunded Investments - First lien
Citrin Cooperman Advisors LLCFinancial Services & Technology———04/2027$2,273 $(23)$9 
Cohnreznick Advisory LLCFinancial Services & Technology———03/20271,344 (3)9 
HIG Operations Holdings, Inc.Business Services———09/20261,121 — — 
Secretariat Advisors LLCBusiness Services———02/20271,087 — 5 
US Fertility Enterprises, LLCHealthcare———12/20271,042 — 5 
Total Unfunded Investments$6,867 $(26)$28 
Total Investments$971,559 $957,232 $941,427 
(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, 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.
Below is certain summarized financial information for SLP III as of September 30, 2026 and December 31, 2025 and for the three and nine months ended September 30, 2026 and September 30, 2025:
Selected Balance Sheet Information:September 30, 2026December 31, 2025
Investments at fair value (cost of $920,103 and $957,232, respectively)
$872,188 $941,427 
Cash and other assets30,661 28,469 
Receivable from unsettled securities sold30,775 — 
Total assets$933,624 $969,896 
Credit facility$758,200 $672,700 
Deferred financing costs (net of accumulated amortization of $8,861 and $7,948, respectively)
(3,394)(4,308)
Payable for unsettled securities purchased15,116 105,171 
Distribution payable4,625 7,000 
Other liabilities10,300 8,462 
Total liabilities784,847 789,025 
Members' capital$148,777 $180,871 
Total liabilities and members' capital$933,624 $969,896 
Selected Statement of Operations Information:Three Months EndedNine Months Ended
September 30, 2026September 30, 2025September 30, 2026September 30, 2025
Interest income$18,796 $16,172 $56,176 $46,239 
Other income93 64 526 253 
Total investment income18,889 16,236 56,702 46,492 
Interest and other financing expenses11,895 8,227 35,250 24,444 
Other expenses349 329 1,070 932 
Total expenses12,244 8,556 36,320 25,376 
Net investment income6,645 7,680 20,382 21,116 
Net realized losses on investments(913)(1,294)(2,541)(829)
Net change in unrealized appreciation (depreciation) of investments9,441 (1,122)(32,110)(9,439)
Net increase (decrease) in members' capital$15,173 $5,264 $(14,269)$10,848 
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 September 30, 2026 and December 31, 2025:
September 30, 2026December 31, 2025
First lien investments (1)$633,916 $664,399 
Weighted average interest rate on first lien investments (2)7.77 %8.67 %
Number of portfolio companies in SLP IV105 105 
Largest portfolio company investment (1)$18,327 $18,217 
Total of five largest portfolio company investments (1)$64,843 $64,111 
(1)Reflects principal amount 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 September 30, 2026:
Portfolio Company and Type of InvestmentIndustryReference SpreadInterest Rate (1)Maturity Date Principal Amount CostFair
Value (2)
Funded Investments - First lien
Accelya Lux Finco S.a r.l.Business ServicesSOFR(Q)5.25%9.32%10/2032$10,420 $10,232 $9,430 
ADG, LLCHealthcareSOFR(Q)
1.00% + 3.00%/PIK
7.88%09/202818,327 18,326 11,846 
ADMI Corp. (aka Aspen Dental)HealthcareSOFR(M)3.75%7.77%12/20271,781 1,779 1,688 
Allium Buyer LLCBusiness ServicesSOFR(Q)4.25%8.30%09/20316,028 5,938 6,051 
AmSpec Parent, LLCEnergySOFR(Q)3.00%7.07%12/20315,478 5,473 5,498 
Asurion, LLCBusiness ServicesSOFR(Q)3.75%7.57%02/20333,134 3,118 2,911 
athenahealth Group Inc.HealthcareSOFR(M)3.25%7.15%02/20325,234 5,217 5,234 
BCPE Empire Holdings, Inc.Distribution & LogisticsSOFR(M)3.25%7.15%12/20307,838 7,809 7,593 
BCPE Empire Holdings, Inc.Distribution & LogisticsSOFR(M)3.50%7.40%12/20323,633 3,583 3,505 
Bella Holding Company, LLCHealthcareSOFR(M)3.25%7.15%06/20331,729 1,714 1,733 
Berlin Packaging L.L.C.PackagingSOFR(Q)3.25%7.22%06/20314,890 4,892 4,860 
BIFM CA Buyer Inc.Business ServicesSOFR(M)3.25%7.15%05/20286,561 6,547 6,567 
Cardinal Parent, Inc.Financial Services & TechnologySOFR(Q)4.50%8.72%11/20276,990 6,930 6,287 
Chrysaor Bidco S.a r.l.Financial Services & TechnologySOFR(Q)3.00%6.76%10/20311,549 1,549 1,556 
Citrin Cooperman Advisors LLCFinancial Services & TechnologySOFR(Q)3.00%7.07%04/20322,677 2,665 2,648 
Cleanova US Holdings LLCBusiness ProductsSOFR(Q)4.75%8.61%06/203211,096 10,988 11,103 
Cloudera, Inc.SoftwareSOFR(M)3.75%7.75%10/20289,550 9,475 8,924 
Clydesdale Acquisition Holdings, Inc.PackagingSOFR(M)3.25%7.15%04/20325,504 5,505 5,410 
Cohnreznick Advisory LLCFinancial Services & TechnologySOFR(Q)3.25%7.32%03/20324,410 4,397 4,380 
Confluence Technologies, Inc.SoftwareSOFR(Q)3.75%7.97%07/20289,525 9,510 7,772 
Confluence Technologies, Inc.SoftwareSOFR(Q)5.00%8.76%07/2028943 943 941 
Confluent Health, LLCHealthcareSOFR(M)4.00%8.02%11/20283,057 3,051 2,856 
ConnectWise, LLCSoftwareSOFR(Q)3.50%7.84%09/20286,555 6,561 6,450 
Convey Health Solutions, Inc. (3)HealthcareSOFR(Q)
1.31% + 2.63%/PIK
8.11%07/20293,484 3,349 376 
CoreLogic, Inc. (fka First American Corporation, The)Business ServicesSOFR(M)4.25%8.15%07/20316,500 6,374 6,167 
Cornerstone OnDemand, Inc.SoftwareSOFR(M)3.75%7.77%10/20281,795 1,792 1,139 
Cub Financing Intermediate, LLCFinancial Services & TechnologySOFR(Q)4.25%8.33%08/2033589 583 593 
CVET Midco 2, L.P.Distribution & LogisticsSOFR(Q)5.00%9.07%10/20296,472 6,374 6,300 
Dayforce Bidco, LLCSoftwareSOFR(Q)3.00%6.82%02/20332,996 2,919 2,889 
Dealer Tire Financial, LLCDistribution & LogisticsSOFR(M)3.00%6.90%07/203110,297 10,259 10,215 
DG Investment Intermediate Holdings 2, Inc.Business ServicesSOFR(M)3.00%6.90%07/20328,226 8,208 8,247 
Discovery Purchaser CorporationSpecialty Chemicals & MaterialsSOFR(Q)3.75%7.48%10/20296,816 6,653 6,800 
EAB Global, Inc.EducationSOFR(M)3.00%6.90%08/20306,824 6,760 6,081 
Eagle Parent Corp.Business ServicesSOFR(Q)4.25%8.32%04/20298,775 8,703 8,834 
Eisner Advisory Group LLCFinancial Services & TechnologySOFR(M)4.00%7.90%02/20316,826 6,761 6,823 
Embecta Corp.HealthcareSOFR(Q)3.00%7.07%03/20291,579 1,582 1,340 
Finastra USA, Inc.Financial Services & TechnologySOFR(S)4.00%7.75%09/20328,214 8,147 7,943 
Flash Charm, Inc.SoftwareSOFR(Q)3.50%7.31%03/20283,898 3,890 3,443 
FNZ Group Entities LimitedFinancial Services & TechnologySOFR(Q)5.00%8.76%11/20317,161 7,048 4,630 
Foundational Education Group, Inc.EducationSOFR(Q)4.25%8.33%08/202810,844 10,787 10,129 
Groundworks, LLCBusiness ServicesSOFR(M)3.50%7.40%03/20316,404 6,375 6,412 
Portfolio Company and Type of InvestmentIndustryReference SpreadInterest Rate (1)Maturity Date Principal Amount CostFair
Value (2)
Heartland Dental, LLCHealthcareSOFR(M)3.00%6.82%08/2032$2,652 $2,648 $2,650 
Help/Systems Holdings, Inc.SoftwareSOFR(Q)6.00%9.86%05/20296,002 5,995 4,549 
HIG Finance 2 LimitedFinancial Services & TechnologySOFR(M)2.75%6.65%02/20312,977 2,889 2,873 
HIG Operations Holdings, Inc.Business ServicesSOFR(M)4.50%8.40%06/20317,069 7,069 7,069 
HIG Operations Holdings, Inc.Business ServicesSOFR(M)4.50%8.40%06/20311,230 1,224 1,229 
Houghton Mifflin Harcourt CompanyEducationSOFR(M)5.25%9.25%04/20298,109 7,953 5,524 
HP PHRG Borrower, LLCConsumer ServicesSOFR(Q)4.00%8.07%02/203210,517 10,454 10,474 
Inizio Group LimitedHealthcareSOFR(Q)4.25%8.42%08/20289,702 9,624 9,496 
Jones DesLauriers Insurance Management Inc.Business ServicesSOFR(Q)3.00%6.82%02/20333,099 3,039 3,063 
Kaseya Inc.SoftwareSOFR(Q)3.25%7.07%03/20328,090 8,076 6,773 
KnowBe4, Inc.EducationSOFR(Q)3.75%7.57%07/20324,751 4,751 3,369 
LSCS Holdings, Inc.HealthcareSOFR(Q)4.50%8.57%03/203210,119 10,072 10,063 
LTR Intermediate Holdings, Inc.Specialty Chemicals & MaterialsSOFR(M)3.75%7.64%12/20325,016 4,993 5,035 
Marcel Bidco LLC (Marcel Bidco GmbH)SoftwareSOFR(M)3.00%6.87%11/20302,999 2,975 2,928 
Mavis Tire Express Services Topco, Corp.RetailSOFR(Q)3.25%6.92%05/20338,875 8,831 8,802 
MED ParentCo, LPHealthcareSOFR(M)3.00%6.90%04/20316,039 6,017 6,036 
Michael Baker International, LLCBusiness ServicesSOFR(Q)4.00%7.82%12/20283,800 3,800 3,806 
Michael Baker International, LLCBusiness ServicesSOFR(M)4.50%8.40%12/20281,259 1,230 1,261 
Neon Maple Purchaser Inc.Financial Services & TechnologySOFR(M)2.50%6.40%11/20312,210 2,213 2,153 
Nexus Buyer LLCFinancial Services & TechnologySOFR(M)4.00%7.90%07/20318,842 8,802 8,761 
Nielsen Consumer, Inc.Business ServicesSOFR(M)2.25%6.15%10/20303,654 3,501 3,643 
Oceankey (U.S.) II Corp.SoftwareSOFR(M)3.50%7.50%12/20289,167 9,170 9,070 
OCM System One Buyer CTB, LLC (Sentinel Purchaser II Holdco, LLC)Business ServicesSOFR(M)3.75%7.65%08/20334,823 4,799 4,817 
Orbit Private Holdings I LtdFinancial Services & TechnologySOFR(S)3.75%7.60%12/20315,941 5,921 5,951 
Osaic Holdings, Inc.Financial Services & TechnologySOFR(Q)2.50%6.57%07/20323,532 3,532 3,504 
Osmose Utilities Services, Inc.Specialty Chemicals & MaterialsSOFR(M)3.25%7.27%06/20288,805 8,570 8,795 
OSTTRA Group LtdFinancial Services & TechnologySOFR(Q)3.00%6.75%10/20325,622 5,617 5,629 
Outcomes Group Holdings, Inc.HealthcareSOFR(Q)3.00%6.76%05/20312,808 2,799 2,824 
OVG Business Services, LLCBusiness ServicesSOFR(M)3.00%6.90%06/20311,750 1,742 1,759 
Paradigm Parent, LLCDistribution & LogisticsSOFR(Q)4.50%8.57%04/2032398 354 372 
Pearls (Netherlands) Bidco B.V.Specialty Chemicals & MaterialsSOFR(Q)3.25%7.07%02/2029762 737 723 
Perforce Software, Inc.SoftwareSOFR(M)4.75%8.65%03/20313,173 3,163 1,629 
Physician Partners, LLCHealthcareSOFR(Q)6.00%10.07%12/20292,763 2,673 2,804 
Physician Partners, LLCHealthcareSOFR(Q)4.00%8.22%12/20292,147 2,137 2,075 
Pioneer AcquisitionCo, LLCBusiness ServicesSOFR(Q)2.50%6.57%10/20324,013 4,004 3,993 
Planview Parent, Inc.SoftwareSOFR(Q)3.50%7.57%12/20277,879 7,840 6,599 
Pretium PKG Holdings, Inc.PackagingSOFR(Q)5.25%8.98%03/20313,566 3,550 3,538 
Project Alpha Intermediate Holding, Inc.SoftwareSOFR(Q)3.25%7.32%10/20309,634 9,508 6,809 
Pushpay USA Inc.Financial Services & TechnologySOFR(Q)3.75%7.57%08/20318,786 8,790 7,966 
Quartz AcquireCo, LLCBusiness ServicesSOFR(Q)2.25%6.32%06/20301,102 1,098 960 
RealPage, Inc.SoftwareSOFR(Q)3.00%7.34%04/20283,508 3,502 3,466 
RealPage, Inc.SoftwareSOFR(Q)3.75%7.82%04/20284,063 4,006 4,024 
Rithum Holdings, Inc. (fka CommerceHub, Inc.)SoftwareSOFR(Q)4.75%8.82%07/20329,985 9,921 9,421 
RxB Holdings, Inc.HealthcareSOFR(M)5.00%8.90%12/20303,242 3,185 3,246 
Portfolio Company and Type of InvestmentIndustryReference SpreadInterest Rate (1)Maturity Date Principal Amount CostFair
Value (2)
Secretariat Advisors LLCBusiness ServicesSOFR(Q)4.00%8.07%02/2032$6,249 $6,227 $6,060 
Secure Acquisition, Inc.PackagingSOFR(M)3.75%7.65%12/20282,580 2,578 2,588 
SonarSource Financing, LLCSoftwareSOFR(Q)4.50%8.23%12/20306,834 6,744 6,663 
Sovos Compliance, LLC (fka Taxware, LLC)SoftwareSOFR(M)3.25%7.15%08/20296,660 6,617 6,486 
Spring Education Group, Inc.EducationSOFR(Q)3.25%7.32%10/203010,076 10,001 10,086 
STATS Intermediate Holdings, LLCBusiness ServicesSOFR(Q)7.00%10.74%04/20306,965 6,740 6,904 
Storable, Inc.SoftwareSOFR(M)3.25%7.15%04/20315,547 5,522 4,806 
Summit Acquisition Inc.Business ServicesSOFR(M)3.50%7.40%10/2031744 743 747 
Sword Purchaser, LLCPackagingSOFR(M)4.00%7.90%04/20332,840 2,705 2,838 
Symplr Software, Inc.HealthcareSOFR(Q)4.50%8.42%12/20273,621 3,618 3,035 
Team.blue Finco SARLSoftwareSOFR(Q)3.25%7.32%07/20325,985 5,978 5,873 
Tegra118 Wealth Solutions, Inc.Financial Services & TechnologySOFR(Q)4.00%7.82%01/20337,304 7,249 7,347 
Tempo Acquisition, LLCBusiness ServicesSOFR(M)1.75%5.65%08/20282,286 1,970 1,820 
Therapy Brands Holdings LLCHealthcareSOFR(Q)4.00%8.03%05/20285,801 5,792 5,801 
Thermostat Purchaser III, Inc.Business ServicesSOFR(Q)4.25%8.32%08/20288,551 8,547 8,430 
Tricorbraun Holdings, Inc.PackagingSOFR(M)3.25%7.15%03/20317,027 7,005 6,738 
TruGreen Limited PartnershipConsumer ServicesSOFR(M)4.00%8.00%11/20273,385 3,244 3,306 
UKG Inc.SoftwareSOFR(Q)2.25%6.07%02/20313,428 3,372 3,331 
US Fertility Enterprises, LLCHealthcareSOFR(Q)3.00%7.07%12/20324,747 4,725 4,763 
Valcour Packaging, LLCPackagingSOFR(M)5.25%9.15%10/20286,943 6,975 7,006 
Valcour Packaging, LLCPackagingSOFR(M)3.75%7.76%10/20282,337 2,336 1,861 
Viant Medical Holdings, Inc.HealthcareSOFR(M)4.00%7.90%10/20317,686 7,668 7,562 
VSTG Intermediate Holdings, Inc.Business ServicesSOFR(Q)3.75%7.82%07/20297,027 7,021 6,917 
Xplor T1, LLCFinancial Services & TechnologySOFR(Q)3.25%7.05%12/203210,753 10,710 10,404 
Zelis Cost Management Buyer, Inc.HealthcareSOFR(M)3.25%7.15%11/203112,300 12,301 12,257 
Zest Acquisition Corp.HealthcareSOFR(M)6.00%9.90%02/20313,879 3,821 3,821 
Zone Climate Services, Inc.Business ServicesSOFR(Q)5.50%9.38%03/20289,550 9,495 9,454 
Zone Climate Services, Inc.Business ServicesSOFR(Q)5.50%9.38%03/20282,099 2,087 2,078 
Total Funded Investments$632,293 $627,331 $592,117 
Unfunded Investments - First lien
Citrin Cooperman Advisors LLCFinancial Services & Technology———04/2027$615 $(6)$(9)
Secretariat Advisors LLCBusiness Services———02/2027764 — (23)
US Fertility Enterprises, LLCHealthcare———12/2027244 (1)1 
Total Unfunded Investments$1,623 $(7)$(31)
Total Investments$633,916 $627,324 $592,086 
(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 September 30, 2026.
(2)Represents the fair value in accordance with ASC 820. The Company's board of managers does not determine the fair value of the investments held by SLP IV.
(3)Investment is on non-accrual status as of September 30, 2026.
The following table is a listing of the individual investments in SLP IV's consolidated portfolio as of December 31, 2025:
Portfolio Company and Type of InvestmentIndustryReferenceSpreadInterest Rate (1)Maturity Date Principal Amount or Par Value CostFair
Value (2)
Funded Investments - First lien
Accelya Lux Finco S.a r.l.Business ServicesSOFR(Q)5.25%8.92%10/2032$10,498 $10,292 $10,466 
ADG, LLCHealthcareSOFR(Q)
1.00% +3.00%/PIK
7.82%09/202618,217 18,215 14,574 
ADMI Corp. (aka Aspen Dental)HealthcareSOFR(M)3.75%7.58%12/20271,795 1,792 1,708 
AmSpec Parent, LLCEnergySOFR(Q)3.50%7.17%12/20315,519 5,514 5,547 
Asurion, LLCBusiness ServicesSOFR(M)4.25%8.07%08/20289,593 9,542 9,622 
Asurion, LLCBusiness ServicesSOFR(M)4.25%7.97%09/20301,809 1,759 1,811 
Asurion, LLCBusiness ServicesSOFR(M)4.25%7.97%09/2030992 979 994 
athenahealth Group Inc.HealthcareSOFR(M)2.75%6.47%02/20294,722 4,717 4,737 
Bach Finance LimitedEducationSOFR(Q)2.75%6.57%01/20321,595 1,592 1,602 
BCPE Empire Holdings, Inc.Distribution & LogisticsSOFR(M)3.25%6.97%12/20308,509 8,473 8,434 
Bella Holding Company, LLCHealthcareSOFR(M)3.00%6.72%05/20281,737 1,736 1,746 
Berlin Packaging L.L.C.PackagingSOFR(M)3.25%7.11%06/20314,927 4,930 4,944 
BIFM CA Buyer Inc.Business ServicesSOFR(M)3.25%6.97%05/20286,611 6,585 6,664 
Boxer Parent Company Inc.SoftwareSOFR(Q)3.00%6.82%07/20315,216 5,205 5,208 
BradyPLUS Holdings, LLCDistribution & LogisticsSOFR(Q)3.50%7.15%12/20323,650 3,596 3,618 
BW Holding, Inc.PackagingSOFR(Q)6.50%10.34%12/2030445 441 454 
Capstone Borrower, Inc.SoftwareSOFR(Q)2.75%6.40%06/20301,989 1,979 1,991 
Cardinal Parent, Inc.Financial Services & TechnologySOFR(Q)4.50%8.32%11/20277,046 6,947 6,898 
Chrysaor Bidco S.a r.l.Financial Services & TechnologySOFR(Q)3.25%7.14%10/20311,561 1,561 1,574 
Citrin Cooperman Advisors LLCFinancial Services & TechnologySOFR(Q)3.00%6.67%04/20324,179 4,173 4,196 
Cleanova US Holdings LLCBusiness ProductsSOFR(Q)4.75%8.48%06/203211,973 11,846 11,973 
Cloudera, Inc.SoftwareSOFR(M)3.75%7.57%10/20289,625 9,524 9,247 
Clydesdale Acquisition Holdings, Inc.PackagingSOFR(M)3.25%6.97%04/20325,521 5,523 5,525 
Cohnreznick Advisory LLCFinancial Services & TechnologySOFR(Q)3.50%7.17%03/20325,475 5,463 5,513 
Confluence Technologies, Inc.SoftwareSOFR(Q)3.75%7.57%07/20289,600 9,579 8,058 
Confluence Technologies, Inc.SoftwareSOFR(Q)5.00%8.85%07/2028943 942 943 
Confluent Health, LLCHealthcareSOFR(M)4.00%7.83%11/20283,082 3,074 2,758 
Confluent Medical Technologies, Inc.HealthcareSOFR(Q)3.00%6.67%02/20296,740 6,723 6,799 
ConnectWise, LLCSoftwareSOFR(Q)3.50%7.43%09/20286,606 6,614 6,503 
Convey Health Solutions, Inc.HealthcareSOFR(Q)
1.00% +3.94%/PIK
8.71%07/20293,509 3,466 2,562 
Cornerstone OnDemand, Inc.SoftwareSOFR(M)3.75%7.58%10/20281,809 1,805 1,668 
CVET Midco 2, L.P.Distribution & LogisticsSOFR(Q)5.00%8.67%10/20296,522 6,402 5,879 
Dealer Tire Financial, LLCDistribution & LogisticsSOFR(M)3.00%6.72%07/203110,376 10,333 10,402 
DG Investment Intermediate Holdings 2, Inc.Business ServicesSOFR(M)3.75%7.47%07/20327,283 7,264 7,310 
Disco Parent, Inc.SoftwareSOFR(Q)3.25%7.07%08/20324,625 4,614 4,660 
Discovery Purchaser CorporationSpecialty Chemicals & MaterialsSOFR(Q)3.75%7.61%10/20299,227 8,958 8,889 
EAB Global, Inc.EducationSOFR(M)3.00%6.72%08/20306,876 6,801 6,131 
Eagle Parent Corp.Business ServicesSOFR(Q)4.25%7.92%04/20298,844 8,753 8,878 
Eisner Advisory Group LLCFinancial Services & TechnologySOFR(M)4.00%7.72%02/20314,976 4,937 5,017 
Embecta Corp.HealthcareSOFR(M)3.00%6.72%03/20291,684 1,688 1,689 
Finastra USA, Inc.Financial Services & TechnologySOFR(Q)4.00%7.72%09/20328,255 8,181 8,097 
First Advantage Holdings, LLCBusiness ServicesSOFR(M)2.75%6.47%10/20311,777 1,759 1,762 
Flash Charm, Inc.SoftwareSOFR(Q)3.50%7.35%03/20289,955 9,924 9,315 
Portfolio Company and Type of InvestmentIndustryReferenceSpreadInterest Rate (1)Maturity Date Principal Amount or Par Value CostFair
Value (2)
FNZ Group Entities LimitedFinancial Services & TechnologySOFR(Q)5.00%8.90%11/2031$7,216 $7,088 $5,742 
Forgent Intermediate IV LLCBusiness ProductsSOFR(M)3.25%6.90%12/20328,118 8,037 8,077 
Foundational Education Group, Inc.EducationSOFR(Q)3.75%7.85%08/202810,930 10,852 10,105 
Groundworks, LLCBusiness ServicesSOFR(M)3.00%6.73%03/20316,452 6,297 6,492 
Heartland Dental, LLCHealthcareSOFR(M)3.75%7.47%08/20329,910 9,886 9,963 
Help/Systems Holdings, Inc.SoftwareSOFR(Q)6.00%9.97%05/20296,047 6,039 5,494 
HIG Operations Holdings, Inc.Business ServicesSOFR(M)4.50%8.22%06/20317,123 7,123 7,123 
Houghton Mifflin Harcourt CompanyEducationSOFR(M)5.25%9.07%04/20298,172 7,975 7,233 
Inizio Group LimitedHealthcareSOFR(Q)4.25%8.02%08/20289,702 9,595 9,472 
Jones DesLauriers Insurance Management Inc.Business ServicesSOFR(Q)3.00%6.65%02/20331,711 1,707 1,715 
Kaseya Inc.SoftwareSOFR(M)3.00%6.72%03/20328,152 8,135 8,169 
Kestra Advisor Services Holdings A, Inc.Financial Services & TechnologySOFR(M)3.00%6.72%03/20312,280 2,277 2,287 
KnowBe4, Inc.EducationSOFR(Q)3.75%7.59%07/20328,761 8,762 8,778 
LSCS Holdings, Inc.HealthcareSOFR(Q)4.50%8.17%03/203210,197 10,144 10,010 
LTR Intermediate Holdings, Inc.Specialty Chemicals & MaterialsSOFR(M)3.75%7.40%12/20325,041 5,016 5,061 
Marcel Bidco LLC (Marcel Bidco GmbH)SoftwareSOFR(M)3.00%6.93%11/20302,019 1,996 2,032 
Mavis Tire Express Services Topco, Corp.RetailSOFR(M)3.00%6.72%05/20288,493 8,473 8,533 
MED ParentCo, LPHealthcareSOFR(M)3.00%6.72%04/20317,291 7,259 7,321 
Michael Baker International, LLCBusiness ServicesSOFR(Q)4.00%7.84%12/20283,829 3,829 3,843 
Neon Maple Purchaser Inc.Financial Services & TechnologySOFR(M)2.50%6.22%11/20311,477 1,483 1,481 
Nexus Buyer LLCFinancial Services & TechnologySOFR(M)4.00%7.72%07/20318,909 8,864 8,855 
Nielsen Consumer, Inc.Business ServicesSOFR(M)2.25%5.97%10/20303,682 3,504 3,692 
Oceankey (U.S.) II Corp.SoftwareSOFR(M)3.50%7.32%12/20289,239 9,243 9,126 
Orbit Private Holdings I LtdFinancial Services & TechnologySOFR(S)3.75%7.55%12/20315,785 5,763 5,816 
Orion Advisor Solutions, Inc.Financial Services & TechnologySOFR(Q)3.25%6.90%09/2030955 956 962 
Orion Midco LtdFinancial Services & TechnologySOFR(Q)3.50%7.43%10/20325,237 5,231 5,267 
Osaic Holdings, Inc.Financial Services & TechnologySOFR(S)3.00%6.60%07/20328,883 8,861 8,930 
Osmose Utilities Services, Inc.Specialty Chemicals & MaterialsSOFR(M)3.25%7.08%06/20288,875 8,543 8,742 
Outcomes Group Holdings, Inc.HealthcareSOFR(M)3.00%6.72%05/20312,829 2,819 2,850 
OVG Business Services, LLCBusiness ServicesSOFR(M)3.00%6.72%06/20311,763 1,755 1,769 
Pearls (Netherlands) Bidco B.V.Specialty Chemicals & MaterialsSOFR(Q)3.25%7.09%02/20295,679 5,436 5,150 
Perforce Software, Inc.SoftwareSOFR(M)4.75%8.47%03/20313,198 3,186 2,715 
Physician Partners, LLCHealthcareSOFR(Q)6.00%9.67%12/20291,784 1,740 1,492 
Physician Partners, LLCHealthcareSOFR(Q)
1.50% +2.50%/PIK
7.82%12/20292,120 2,109 1,022 
Pioneer AcquisitionCo, LLCBusiness ServicesSOFR(Q)3.25%6.94%10/20325,046 5,033 5,074 
Planview Parent, Inc.SoftwareSOFR(Q)3.50%7.17%12/20277,940 7,876 7,641 
Project Alpha Intermediate Holding, Inc.SoftwareSOFR(Q)3.25%6.92%10/20309,708 9,561 9,704 
Pushpay USA Inc.Financial Services & TechnologySOFR(S)3.75%7.62%08/20318,853 8,858 8,858 
Quartz AcquireCo, LLCBusiness ServicesSOFR(Q)2.25%5.92%06/20301,477 1,472 1,477 
RealPage, Inc.SoftwareSOFR(Q)3.00%6.93%04/20281,940 1,938 1,941 
RealPage, Inc.SoftwareSOFR(Q)3.75%7.42%04/20281,985 1,978 1,994 
Rithum Holdings, Inc. (fka CommerceHub, Inc.)SoftwareSOFR(Q)4.75%8.42%07/203210,061 9,990 10,076 
HP PHRG Borrower, LLCConsumer ServicesSOFR(Q)4.00%7.67%02/203210,597 10,527 10,553 
Portfolio Company and Type of InvestmentIndustryReferenceSpreadInterest Rate (1)Maturity Date Principal Amount or Par Value CostFair
Value (2)
RxB Holdings, Inc.HealthcareSOFR(M)5.00%8.65%12/2030$3,283 $3,218 $3,246 
Secretariat Advisors LLCBusiness ServicesSOFR(Q)4.00%7.67%02/20326,110 6,083 6,134 
Secure Acquisition, Inc.PackagingSOFR(Q)3.75%7.42%12/2028330 331 333 
SonarSource Financing, LLCSoftwareSOFR(M)4.50%8.15%12/20307,100 6,994 7,029 
Sovos Compliance, LLC (fka Taxware, LLC)SoftwareSOFR(M)3.25%6.97%08/20295,561 5,566 5,584 
Spring Education Group, Inc.EducationSOFR(Q)3.25%6.92%10/203010,154 10,066 10,225 
STATS Intermediate Holdings, LLCBusiness ServicesSOFR(Q)5.25%9.40%07/20264,940 4,902 4,868 
STATS Intermediate Holdings, LLCBusiness ServicesSOFR(Q)7.25%11.40%07/20262,225 2,210 2,225 
Storable, Inc.SoftwareSOFR(M)3.25%6.97%04/20313,820 3,818 3,843 
Symplr Software, Inc.HealthcareSOFR(Q)4.50%8.44%12/20273,650 3,646 3,109 
Team.blue Finco SARLSoftwareSOFR(Q)3.25%6.92%07/20327,220 7,205 7,267 
Therapy Brands Holdings LLCHealthcareSOFR(M)4.00%7.83%05/20285,847 5,834 5,412 
Thermostat Purchaser III, Inc.Business ServicesSOFR(Q)4.25%7.92%08/20288,617 8,612 8,602 
TransDigm Inc.ManufacturingSOFR(M)2.50%6.22%08/20321,477 1,481 1,485 
TransDigm Inc.ManufacturingSOFR(M)2.50%6.22%02/2031886 889 891 
TRC Companies LLCBusiness ServicesSOFR(M)3.00%6.72%12/20285,332 5,318 5,355 
Tricorbraun Holdings, Inc.PackagingSOFR(M)3.25%6.97%03/20317,082 7,057 6,876 
US Fertility Enterprises, LLCHealthcareSOFR(M)3.50%7.22%12/20324,378 4,356 4,400 
Valcour Packaging, LLCPackagingSOFR(M)5.25%8.99%10/20281,641 1,629 1,660 
Valcour Packaging, LLCPackagingSOFR(M)
1.50% +2.25%/PIK
7.60%10/20282,311 2,311 1,804 
Viant Medical Holdings, Inc.HealthcareSOFR(M)4.00%7.72%10/20317,745 7,724 7,680 
VSTG Intermediate Holdings, Inc.Business ServicesSOFR(Q)3.75%7.42%07/20297,082 7,074 7,082 
VT Topco, Inc.Business ServicesSOFR(M)3.00%6.87%08/20306,865 6,769 6,781 
Xplor T1, LLCFinancial Services & TechnologySOFR(Q)3.50%7.29%12/203212,569 12,516 12,600 
Zelis Cost Management Buyer, Inc.HealthcareSOFR(M)3.25%6.97%11/203112,394 12,395 12,316 
Zest Acquisition Corp.HealthcareSOFR(Q)5.25%9.11%02/20283,884 3,822 3,884 
Zone Climate Services, Inc.Business ServicesSOFR(Q)5.50%9.52%03/20289,625 9,543 9,625 
Zone Climate Services, Inc.Business ServicesSOFR(Q)5.50%9.52%03/20282,116 2,098 2,116 
Total Funded Investments$659,603 $654,884 $641,435 
Unfunded Investments - First lien
Citrin Cooperman Advisors LLCFinancial Services & Technology———04/2027$1,364 $(14)$6 
Cohnreznick Advisory LLCFinancial Services & Technology———03/2027791 (3)5 
HIG Operations Holdings, Inc.Business Services———09/20261,236 — — 
Secretariat Advisors LLCBusiness Services———02/2027742 — 3 
US Fertility Enterprises, LLCHealthcare———12/2027663 — 3 
Total Unfunded Investments$4,796 $(17)$17 
Total Investments$664,399 $654,867 $641,452 
(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, 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.
Below is certain summarized consolidated financial information for SLP IV as of September 30, 2026 and December 31, 2025 and for the three and nine months ended September 30, 2026 and September 30, 2025:
Selected Consolidated Balance Sheet Information:September 30, 2026December 31, 2025
Investments at fair value (cost of $627,324 and $654,867, respectively)
$592,086 $641,452 
Cash and other assets28,475 31,324 
Receivable from unsettled securities sold24,656 — 
Total assets$645,217 $672,776 
Credit facility$522,137 $471,737 
Deferred financing costs (net of accumulated amortization of $5,290 and $4,022, respectively)
(3,176)(4,444)
Payable for unsettled securities purchased9,759 66,866 
Distribution payable3,218 4,826 
Other liabilities7,976 6,978 
Total liabilities539,914 545,963 
Members' capital$105,303 $126,813 
Total liabilities and members' capital$645,217 $672,776 

Selected Consolidated Statement of Operations Information:Three Months EndedNine Months Ended
September 30, 2026September 30, 2025September 30, 2026September 30, 2025
Interest income$13,081 $11,308 $38,769 $31,291 
Other income59 65 360 156 
Total investment income13,140 11,373 39,129 31,447 
Interest and other financing expenses7,986 5,986 23,997 16,171 
Other expenses262 258 872 673 
Total expenses8,248 6,244 24,869 16,844 
Net investment income4,892 5,129 14,260 14,603 
Net realized losses on investments(588)(541)(1,613)(681)
Net change in unrealized appreciation (depreciation) of investments3,290 (1,569)(21,823)(6,675)
Net increase (decrease) in members' capital$7,594 $3,019 $(9,176)$7,247