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First Lien Secured Debt - Term Loan S+600, 0.50% Floor Maturity Date 7/23/20292024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:EnergyEquipmentServicesMember2024-12-310002006758ck0002006758:SeniorSecuredFacilityAndSpvFinancingFacilitiesMembercurrency:CAD2025-03-310002006758ck0002006758:ThreeMonthsSecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember2025-03-310002006758GAT-Airline Ground Support Inc2024-12-310002006758Trading Companies & Distributors2024-12-310002006758ck0002006758:ConsumerStaplesDistributionAndRetailMember2025-03-310002006758ck0002006758:FirstLienSecuredDebtMember2024-01-012024-03-310002006758Hotels, Restaurants & Leisure YTC Enterprises, LLC YTC Enterprises, LLC First Lien Secured Debt - Revolver Interest Rate S+636, 1.00% Floor Maturity Date 8/16/20262025-03-310002006758ck0002006758:ConstructionEngineeringMember2024-12-310002006758ck0002006758:HealthCareEquipmentSuppliesMember2025-03-310002006758Diversified Consumer Services Ultra Clean Holdco LLC Ultra Clean Holdco LLC2025-03-310002006758WH BorrowerCo, LLC2024-12-310002006758Diversified Consumer Services Legacy.com Lotus Topco Inc. First Lien Secured Debt - Delayed Draw S+475, 1.00% Floor Maturity Date 6/7/20302025-03-310002006758Entertainment Chernin Entertainment Jewel Purchaser, Inc. First Lien Secured Debt - Term Loan S+560, 0.50% Floor Maturity Date 7/1/20272024-12-310002006758ck0002006758:SeniorSecuredFacilityAndSpvFinancingFacilitiesMember2024-12-310002006758CRS Holdings, Inc.2024-12-310002006758Commercial Services & Supplies CRS Holdings, Inc. CRS Holdings, Inc. First Lien Secured Debt - Revolver S+500, 1.00% Floor Maturity Date 6/6/20302024-12-310002006758Commercial Services & Supplies RailPros Consolidated, Inc. RailPros Consolidated, Inc. First Lien Secured Debt - Term Loan S+560, 1.00% Floor Maturity Date 7/31/20262025-03-310002006758Uniguest Holdings, Inc2025-03-310002006758Software CM Acquisitions Holdings Inc. CM Acquisitions Holdings Inc. First Lien Secured Debt - Term Loan S+350 Cash plus 2.50% PIK, 1.00% Floor Maturity Date 5/6/20262024-12-310002006758us-gaap:StandbyLettersOfCreditMember2024-12-310002006758Health Care Providers & Services WelldyneRX, LLC WelldyneRX, LLC First Lien Secured Debt - Term Loan Interest Rate S+685, 0.75% Floor Maturity Date 3/9/20272025-03-310002006758Commercial Services & Supplies Best Trash Bingo Group Buyer, Inc. First Lien Secured Debt - Delayed Draw S+500, 1.00% Floor Maturity Date 07/10/20312024-12-310002006758Vixxo Corporation2025-03-310002006758Leisure Products Wellbeam Consumer Health Intermediate, LLC Wellbeam Consumer Health Intermediate, LLC First Lien Secured Debt - Delayed Draw S+640 Cash plus 1.00% PIK, Maturity Date 10/4/20272025-03-310002006758Construction & Engineering Traffic Management Solutions Traffic Management Solutions, LLC First Lien Secured Debt - Term Loan S+500, 1.00% Floor Maturity Date 11/26/20302024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:ProfessionalServicesMember2025-03-310002006758Hotels, Restaurants & Leisure 2024-12-310002006758Megavolt Borrower, LLC2025-03-310002006758Saffron Bidco Ltd2025-03-310002006758ck0002006758:APLeafSecuredCreditFacilityMember2024-06-300002006758Chemicals Aspen Aerogels, Inc. Aspen Aerogels, Inc.2024-12-310002006758Pharmaceuticals TerSera Therapeutics TerSera Therapeutics LLC First Lien Secured Debt - Term Loan S+575, 1.00% Floor Maturity Date 4/4/20292025-03-310002006758Personal Products Elida Beauty PHOENIX YW BUYER, INC. First Lien Secured Debt - Term Loan S+500, 1.00% Floor Maturity Date 5/31/20302025-03-310002006758ck0002006758:APLeafSecuredCreditFacilityMember2025-03-060002006758ck0002006758:CommonEquityMemberck0002006758:PharmaceuticalsMember2025-03-310002006758Containers & Packaging Berry Global Vybond Buyer, LLC First Lien Secured Debt – Delayed Draw S+500, 0.75% Floor Maturity Date 2/3/20322025-03-310002006758ck0002006758:UnfundedRevolverObligationsAndBridgeLoanCommitmentsMember2025-03-310002006758Diversified Consumer Services Regis Corporation Regis Corporation2025-03-310002006758Health Care Providers & Services TVG-MEDULLA, LLC TVG-MEDULLA, LLC First Lien Secured Debt - Term Loan S+550 Cash plus 1.50% PIK, 1.00% Floor Maturity Date 6/30/20262024-12-310002006758The North Highland Company LLC2024-12-310002006758Commercial Services & Supplies Mariani CI (MG) GROUP, LLC2025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:HealthCareProvidersServicesMember2025-03-310002006758ck0002006758:CommonEquityMemberck0002006758:AirFreightLogisticsMember2025-03-310002006758Construction & Engineering American Restoration American Restoration Holdings, LLC First Lien Secured Debt - Delayed Draw S+510, 1.00% Floor Maturity Date 07/24/20302024-12-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:CommonEquityInterestsMemberck0002006758:ValuationTechniqueMarketComparableTechniqueMembersrt:MaximumMemberck0002006758:MeasurementInputComparableMultipleMember2024-12-310002006758Pharmaceuticals PAI Pai Middle Tier, LLC First Lien Secured Debt - Term Loan S+475, 0.75% Floor Maturity Date 2/13/20322025-03-310002006758Distinct Holdings Inc2024-12-310002006758WildBrain Ltd.2024-12-310002006758Diversified Consumer Services TCW Midco LLC TCW Midco LLC First Lien Secured Debt - Delayed Draw S+575, 1.00% Floor Maturity Date 10/22/20292025-03-310002006758Diversified Consumer Services Rapid Express Car Wash, LLC Rapid Express Car Wash, LLC First Lien Secured Debt - Delayed Draw S+585, 1.00% Floor Maturity Date 12/23/20272024-12-310002006758us-gaap:UnsecuredDebtMember2025-03-310002006758Health Care Technology Parcelshield Holdings LLC Parcelshield Holdings LLC First Lien Secured Debt - Term Loan Interest Rate S+560, 1.00% Floor Maturity Date 9/30/20272025-03-310002006758Building Products Omnimax Omnimax International, LLC First Lien Secured Debt - Term Loan S+575, 1.00% Floor Maturity Date 12/6/20302025-03-310002006758Chemicals Aspen Aerogels, Inc. Aspen Aerogels, Inc.2025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:LeisureProductsMember2025-03-310002006758Electric Utilities Dynagrid Megavolt Borrower, LLC Investment Type First Lien Secured Debt - Revolver Interest Rate S+475, 1.00% Floor Maturity Date 2/13/20312025-03-310002006758F&M Buyer LLC2025-03-310002006758ck0002006758:MediaMember2025-03-310002006758AHP Timberwolf Bidco Corp.2024-12-310002006758IT Services VikingCloud Bullcave Limited First Lien Secured Debt - Term Loan Interest Rate S+500, 0.75% Floor Maturity Date 8/6/20302025-03-310002006758us-gaap:CommonStockMember2025-01-012025-03-310002006758Aerospace & Defense Sperry Parent Holdings, L.P. Sperry Parent Holdings, L.P. Common Equity - Stock2025-03-3100020067582024-01-012024-03-310002006758Specialty Retail Paladone Group Bidco Limited Paladone Group Bidco Limited First Lien Secured Debt - Term Loan S+560, 1.00% Floor Maturity Date 11/12/20272024-12-310002006758Health Care Equipment & Supplies Natus Sensory, Inc. Natus Sensory, Inc. First Lien Secured Debt - Term Loan Interest Rate S+525, 0.75% Floor Maturity Date 1/7/20312025-03-310002006758ck0002006758:MediaMember2024-12-310002006758Cool Buyer, Inc.2024-12-310002006758ck0002006758:APLeafSecuredCreditFacilityMember2025-03-062025-03-060002006758Food Products Casper's Ice Cream, LLC Casper's Ice Cream, LLC First Lien Secured Debt - Term Loan S+615, 1.00% Floor Maturity Date 12/29/20272024-12-310002006758Construction & Engineering Traffic Management Solutions Traffic Management Solutions, LLC2025-03-310002006758Health Care Technology2025-03-310002006758ck0002006758:CommunicationsEquipmentMember2025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:AutomobileComponentsMember2024-12-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:FirstLienSecuredDebtMember2025-03-310002006758Diversified Consumer Services Regis Corporation2024-12-310002006758Construction & Engineering Pave America Pave America Interco, LLC First Lien Secured Debt - Term Loan S+565, 1.00 % Floor Maturity Date 2/7/20292025-03-310002006758Health Care Equipment & Supplies Midwest Vision Partners Management, LLC Midwest Vision Partners Management, LLC First Lien Secured Debt - Term Loan Interest Rate S+450 Cash plus 2.00% PIK Maturity Date 1/12/20272025-03-310002006758Health Care Providers & Services Pace Health Companies, LLC Pace Health Companies, LLC First Lien Secured Debt - Term Loan S+540, 1.00% Floor Maturity Date 8/2/20262024-12-310002006758country:US2025-03-310002006758Health Care Providers & Services TVG Shelby Buyer, Inc. TVG Shelby Buyer, Inc. First Lien Secured Debt - Term Loan Interest Rate S+500, 1.00% Floor Maturity Date 3/7/20282025-03-310002006758Construction & Engineering Traffic Management Solutions Traffic Management Solutions, LLC First Lien Secured Debt – Revolver S+500, 1.00 % Floor Maturity Date 11/26/20302025-03-310002006758Personal Products2025-03-310002006758Professional Services KL Charlie Acquisition Company KL Charlie Acquisition Company First Lien Secured Debt - Term Loan S+560, 1.00% Floor Maturity Date 12/30/20262024-12-310002006758Hotels, Restaurants & Leisure Walter's Wedding2025-03-310002006758Commercial Services & Supplies GS SEER Group Borrower LLC GS SEER Group Borrower LLC First Lien Secured Debt - Term Loan S+675, 1.00% Floor Maturity Date 4/29/20302024-12-310002006758Food Products2024-12-310002006758Pharmaceuticals Orion Buyer, LLC TVG Orion Blocker, Inc. 2025-03-310002006758Air Freight & Logistics SEKO Global Logistics Network, LLC SEKO Global Logistics Network, LLC First Lien Secured Debt - Term Loan S+500, 1.00% Floor Maturity Date 5/27/20302025-03-310002006758srt:MinimumMemberck0002006758:APLeafSecuredCreditFacilityMember2024-03-150002006758Health Care Providers & Services FP UC Intermediate Holdings, Inc. FP UC Intermediate Holdings, Inc. First Lien Secured Debt - Term Loan S+650 Cash plus 1.00% PIK, 1.00% Floor Maturity Date 11/22/20262024-12-310002006758Chemicals Lunar Buyer, LLC Lunar Buyer, LLC First Lien Secured Debt - Revolver S+550, 0.75% Floor Maturity Date 10/3/20302025-03-310002006758Software F&M Buyer LLC F&M Buyer LLC First Lien Secured Debt – Revolver S+475, 0.75% Floor Maturity Date 3/18/20322025-03-310002006758IT Services Distinct Holdings Inc Distinct Holdings Inc2024-12-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:ValuationTechniqueMarketComparableTechniqueMemberck0002006758:FirstLienSecuredDebtMembersrt:MaximumMemberck0002006758:MeasurementInputComparableMultipleMember2024-12-310002006758Leisure Products Dan Dee International Holdings, Inc. Dan Dee International Holdings, Inc. First Lien Secured Debt - Term Loan S+710, 1.00% Floor Maturity Date 2/1/20262025-03-310002006758Commercial Services & Supplies Rasa Floors & Carpet Cleaning, LLC Rasa Floors & Carpet Cleaning, LLC First Lien Secured Debt - Term Loan S+535, 1.00% Floor Maturity Date 12/22/20272025-03-3100020067582024-03-150002006758Specialty Retail Club Champion LLC Club Champion LLC First Lien Secured Debt - Term Loan S+500, 0.75% Floor Maturity Date6/14/20292024-12-310002006758Commercial Services & Supplies Vixxo Corporation Vixxo Corporation 2025-03-310002006758Software2025-03-3100020067582025-05-130002006758ck0002006758:UnfundedDelayedDrawLoanCommitmentsMember2025-03-310002006758Food Products Fortune International LLC Fortune International LLC First Lien Secured Debt - Delayed Draw S+510, 1.00% Floor Maturity Date 1/17/20262024-12-310002006758us-gaap:UnsecuredDebtMember2025-03-310002006758Commercial Services & Supplies CRS Holdings, Inc. CRS Holdings, Inc.2024-12-310002006758us-gaap:DebtInstrumentRedemptionPeriodThreeMemberck0002006758:TotalCommitmentsMember2025-01-012025-03-310002006758Personal Products Elida Beauty PHOENIX YW BUYER, INC.2024-12-310002006758ck0002006758:AssetTransferAgreementMember2025-01-012025-03-310002006758Health Care Equipment & Supplies EyeSouth SCP Eye Care Services, LLC First Lien Secured Debt - Term Loan Interest Rate S+550, 1.00% Floor Maturity Date 10/5/20292025-03-310002006758Financial Services GC Waves GC Waves Holdings, Inc. Investment Type First Lien Secured Debt - Delayed Draw Interest Rate S+475, 0.75% Floor Maturity Date 10/4/20302025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:PersonalProductsMember2025-03-310002006758Commercial Services & Supplies RailPros Consolidated, Inc. RailPros Consolidated, Inc. First Lien Secured Debt - Term Loan S+560, 1.00% Floor Maturity Date 7/31/20262024-12-310002006758us-gaap:UnsecuredDebtMemberck0002006758:PharmaceuticalsMember2024-12-310002006758Software F&M Buyer LLC F&M Buyer LLC First Lien Secured Debt – Delayed Draw S+475, 0.75% Floor Maturity Date 3/18/20322025-03-310002006758WildBrain Ltd.2025-03-310002006758Pharmaceuticals Saffron Bidco Ltd Saffron Bidco Ltd2025-03-310002006758ck0002006758:DiversifiedConsumerServicesMember2024-12-310002006758PMA Parent Holdings, LLC2024-12-310002006758Entertainment DHX WildBrain Ltd. Investment Type First Lien Secured Debt - Revolver Interest Rate S+600, 1.00% Floor Maturity Date 7/23/20292025-03-310002006758Professional Services North Highland Company Total Investments First Lien Secured Debt – Delayed Draw S+475, 0.75% Floor Maturity Date 12/20/20312025-03-310002006758Pharmaceuticals Orion Buyer, LLC TVG Orion Blocker, Inc. Common Equity - Stock2024-12-310002006758Leisure Products Wellbeam Consumer Health Intermediate, LLC Wellbeam Consumer Health Intermediate, LLC First Lien Secured Debt - Term Loan S+640 Cash plus 1.00% PIK, Maturity Date 10/4/20272025-03-310002006758ck0002006758:BuildingProductsMember2024-12-310002006758Diversified Consumer Services FEV Acquisition Corporation FEV Acquisition Corporation First Lien Secured Debt - Delayed Draw 6.00% Maturity Date 7/15/20282025-03-310002006758Air Freight & Logistics SEKO Global Logistics Network, LLC SEKO Global Logistics Network, LLC Common Equity - Equity Unit2025-03-310002006758Natus Sensory, Inc.2025-03-310002006758Capital Markets2025-03-310002006758us-gaap:FairValueInputsLevel2Member2025-03-310002006758Consumer Staples Distribution & Retail THLP CO., LLC THLP CO., LLC First Lien Secured Debt – Term Loan S+600, 1.00% Floor Maturity Date 1/31/20272025-03-310002006758Professional Services Escalent M&M OPCO, LLC First Lien Secured Debt – Term Loan S+810, 1.00% Floor Maturity Date 4/7/20292025-03-310002006758Trading Companies & Distributors MacQueen Equipment MacQueen Equipment, LLC First Lien Secured Debt - Term Loan S+551, 1.00% Floor Maturity Date 1/7/20282024-12-310002006758PMA Parent Holdings, LLC2025-03-310002006758ck0002006758:AssetsAcquiredByAffiliateAfterDecemberTwentyTwoThousandAndEighteenMemberck0002006758:AssetTransferAgreementMember2025-01-012025-03-310002006758ck0002006758:SpecialtyRetailMember2024-12-310002006758Pharmaceuticals Orion Buyer, LLC TVG Orion Blocker, Inc. Common Equity - Stock2025-03-310002006758us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberck0002006758:ValuationTechniqueMarketComparableTechniqueMemberck0002006758:FirstLienSecuredDebtMemberck0002006758:MeasurementInputComparableMultipleMember2024-12-310002006758Rarebreed Veterinary Partners, Inc.2024-12-310002006758Trading Companies & Distributors2025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:CommunicationsEquipmentMember2024-12-310002006758Software2024-12-310002006758NPPI Buyer, LLC2025-03-310002006758Insurance Spectrum Automotive Shelby 2021 Holdings Corp. First Lien Secured Debt –Term Loan S+525, 0.75% Floor Maturity Date 6/29/20282024-12-310002006758Financial Services GC Waves GC Waves Holdings, Inc.2025-03-310002006758Consumer Staples Distribution & Retail Protein for Pets Protein For Pets Opco, LLC First Lien Secured Debt - Revolver S+525, 1.00% Floor Maturity Date 9/20/20302025-03-310002006758Hotels, Restaurants & Leisure Walter's Wedding WH BorrowerCo, LLC2024-12-310002006758Health Care Providers & Services Thomas Scientific, LLC Thomas Scientific, LLC First Lien Secured Debt - Term Loan S+325 Cash plus 4.50% PIK, 1.00% Floor Maturity Date 12/14/20272024-12-310002006758Capital Markets Stout Stout Intermediate II, LLC First Lien Secured Debt - Term Loan S+510, 1.00% Floor Maturity Date 11/22/20272025-03-310002006758Diversified Consumer Services Owl Acquisition, LLC First Lien Secured Debt - Term Loan S+535, 1.00% Floor Maturity Date 2/4/20282024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:FoodProductsMember2024-12-310002006758ck0002006758:CoInvestmentHoldingsMember2025-03-310002006758Lotus Topco Inc.2024-12-310002006758Health Care Equipment & Supplies Solmetex Solmetex, LLC First Lien Secured Debt - Term Loan S+635, 1.00% Floor Maturity Date 1/14/20272024-12-310002006758Health Care Equipment & Supplies Pace Health Companies, LLC Pace Health Companies, LLC First Lien Secured Debt - Term Loan Interest Rate S+540, 1.00% Floor Maturity Date 8/2/20262025-03-310002006758Total Commitments2024-12-310002006758Construction & Engineering SAFEbuilt, LLC SAFEbuilt, LLC First Lien Secured Debt - Term Loan S+685, 1.00% Floor Maturity Date 12/31/20252024-12-310002006758ck0002006758:ProfessionalServicesMember2024-12-310002006758Commercial Services & Supplies Tranzonic TZ Buyer LLC First Lien Secured Debt - Term Loan S+635, 0.75% Floor Maturity Date 8/14/20282025-03-310002006758Hotels, Restaurants & Leisure Walter's Wedding WH BorrowerCo, LLC First Lien Secured Debt - Term Loan Interest Rate S+500, 1.00% Floor Maturity Date 8/2/20302025-03-310002006758Ronnoco Holdings, Inc.2025-03-310002006758Air Freight & Logistics SEKO Global Logistics Network, LLC SEKO Global Logistics Network, LLC First Lien Secured Debt - Term Loan S+500, 1.00% Floor Maturity Date 5/27/20302024-12-310002006758Construction & Engineering Pavement Preservation Acquisition, LLC Pavement Preservation Acquisition, LLC First Lien Secured Debt - Delayed Draw S+525, 1.00% Floor Maturity Date 8/9/20302024-12-310002006758us-gaap:DebtInstrumentRedemptionPeriodThreeMemberus-gaap:LetterOfCreditMemberck0002006758:TotalCommitmentsMember2025-03-310002006758Ground Transportation2024-12-310002006758Health Care Equipment & Supplies CSHC Buyerco, LLC CSHC Buyerco, LLC First Lien Secured Debt - Term Loan S+485, 1.00% Floor Maturity Date 9/8/20262024-12-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:CommonEquityInterestsMemberck0002006758:ValuationTechniqueMarketComparableTechniqueMembersrt:MinimumMemberck0002006758:MeasurementInputComparableMultipleMember2024-12-310002006758Construction & Engineering Pavement Preservation Acquisition, LLC Pavement Preservation Acquisition, LLC First Lien Secured Debt - Revolver S+525, 1.00% Floor Maturity Date 8/9/20302024-12-310002006758Automobile Components Cool Buyer, Inc. Cool Buyer, Inc. First Lien Secured Debt - Delayed Draw S+475, 1.00% Floor Maturity Date 10/31/20302024-12-310002006758Financial Services PMA PMA Parent Holdings, LLC First Lien Secured Debt – Revolver S+550, 0.75% Floor Maturity Date 1/31/20312024-12-310002006758ck0002006758:HealthCareProvidersServicesMember2025-03-310002006758Construction & Engineering Accelevation Accelevation LLC First Lien Secured Debt - Term Loan S+500, 0.75% Floor Maturity Date 1/2/20312025-03-310002006758Diversified Consumer Services FEV Acquisition Corporation FEV Acquisition Corporation First Lien Secured Debt - Delayed Draw 13.50% Maturity Date 7/15/20282024-12-310002006758ck0002006758:InsuranceMember2024-12-310002006758Paper & Forest Products BiOrigin Specialty Complete Paper Inc. First Lien Secured Debt - Term Loan S+500, 0.75% Floor Maturity Date 2/4/20312025-03-310002006758Media HU Buyer, Inc. HU Buyer, Inc. First Lien Secured Debt - Term Loan S+610, 1.00% Floor Maturity Date 12/29/20262024-12-310002006758Pharmaceuticals Orion Buyer, LLC Orion Buyer, LLC First Lien Secured Debt – Delayed Draw S+500, 1.00% Floor Maturity Date 7/18/20302025-03-310002006758Life Sciences Tools & Services VCR Buyer, Inc. VCR Buyer, Inc. First Lien Secured Debt - Term Loan S+675 Cash plus 1.00% PIK, Maturity Date 4/28/20282025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:HealthCareTechnologyMember2024-12-310002006758IOTA HOLDINGS 32025-03-310002006758Chemicals Aspen Aerogels, Inc. Aspen Aerogels, Inc. First Lien Secured Debt – Revolver S+460, 2.50% Floor Maturity Date 8/19/20292024-12-310002006758ck0002006758:FinancialServicesMember2024-12-310002006758Diversified Consumer Services TCW Midco LLC TCW Midco LLC2025-03-310002006758us-gaap:CommonStockMember2025-03-310002006758Containers & Packaging MSI Express, Inc. NCP-MSI Buyer First Lien Secured Debt – Revolver S+ 475, 0.75% Floor Maturity Date 3/24/20312025-03-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:CommonEquityInterestsMemberck0002006758:ValuationTechniqueRecentTransactionMemberck0002006758:MeasurementInputRecentTransactionMember2024-12-310002006758Software EVER.AG Corporation EVER.AG Corporation First Lien Secured Debt – Term Loan S+585, 1.00% Floor Maturity Date 6/24/20272025-03-310002006758Electrical Equipment International Wire Group IW Buyer LLC Investment Type First Lien Secured Debt - Term Loan Interest Rate S+510, 1.00% Floor Maturity Date 6/28/20292025-03-310002006758Diversified Consumer Services FEV Acquisition Corporation FEV Acquisition Corporation2025-03-310002006758ck0002006758:InvestmentAdvisoryAgreementMemberck0002006758:ApolloCreditManagementLlcMember2025-01-012025-03-310002006758us-gaap:InvestmentUnaffiliatedIssuerMember2025-03-310002006758ck0002006758:WirelessTelecommunicationServicesMember2024-12-310002006758Construction & Engineering Traffic Management Solutions Traffic Management Solutions, LLC First Lien Secured Debt - Delayed Draw S+500, 1.00% Floor Maturity Date 11/26/20302024-12-310002006758Health Care Providers & Services SBH Buyer, LLC Salisbury House, LLC First Lien Secured Debt - Term Loan Interest Rate S+590, 1.00% Floor Maturity Date 2/28/20262025-03-310002006758us-gaap:DebtInstrumentRedemptionPeriodTwoMemberck0002006758:TotalCommitmentsMember2025-01-012025-03-310002006758Pharmaceuticals2024-12-310002006758TeamLINX Buyer, LLC2024-12-310002006758ck0002006758:TransportationInfrastructureMemberck0002006758:FirstLienSecuredDebtMember2025-03-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:FirstLienSecuredDebtMemberck0002006758:ValuationTechniqueYieldAnalysisMemberus-gaap:MeasurementInputDiscountRateMember2025-03-310002006758Health Care Providers & Services Kure Pain Holdings, Inc. Kure Pain Holdings, Inc. First Lien Secured Debt - Term Loan S+610, 1.00% Floor Maturity Date 8/27/20272024-12-310002006758NPPI Buyer, LLC2024-12-310002006758Containers & Packaging Truvant NPPI Buyer, LLC2025-03-310002006758Financial Services PMA PMA Parent Holdings, LLC Investment Type First Lien Secured Debt - Term Loan Interest Rate S+525, 0.75% Floor Maturity Date 1/31/20312025-03-310002006758Commercial Services & Supplies Mariani CI (MG) GROUP, LLC First Lien Secured Debt - Delayed Draw S+715, 1.00% Floor Maturity Date 3/24/20282024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:HealthCareEquipmentSuppliesMember2024-12-310002006758Health Care Providers & Services TST Intermediate Holdings, LLC TST Intermediate Holdings, LLC First Lien Secured Debt - Term Loan S+585, 1.00% Floor Maturity Date 12/31/20282024-12-310002006758Commercial Services & Supplies Rasa Floors & Carpet Cleaning, LLC Rasa Floors & Carpet Cleaning, LLC First Lien Secured Debt - Term Loan S+535, 1.00% Floor Maturity Date 12/22/20272024-12-310002006758country:CA2025-03-310002006758ck0002006758:CapitalMarketsMember2025-03-310002006758Health Care Equipment & Supplies Kure Pain Holdings, Inc. Kure Pain Holdings, Inc. First Lien Secured Debt - Term Loan Interest Rate S+560, 1.00% Floor Maturity Date 8/27/20272025-03-310002006758ck0002006758:ElectricalEquipmentMember2024-12-310002006758ck0002006758:PersonalProductsMember2024-12-310002006758Diversified Consumer Services FEV Acquisition Corporation2024-12-310002006758Trading Companies & Distributors ORS Nasco WC ORS Buyer, Inc. First Lien Secured Debt - Revolver S+500, 0.75% Floor Maturity Date 8/7/20312024-12-3100020067582025-01-012025-03-310002006758Trading Companies & Distributors ORS Nasco WC ORS Buyer, Inc. First Lien Secured Debt - Term Loan S+500, 0.75% Floor Maturity Date 8/7/20312024-12-310002006758Bingo Group Buyer, Inc.2024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:AirFreightLogisticsMember2025-03-310002006758Commercial Services & Supplies CRS Holdings, Inc. CRS Holdings, Inc. First Lien Secured Debt - Term Loan S+500, 1.00% Floor Maturity Date 6/6/20302025-03-310002006758Trading Companies & Distributors ORS Nasco WC ORS Buyer, Inc. First Lien Secured Debt – Revolver S+500, 0.75% Floor Maturity Date 8/7/20312025-03-310002006758Construction & Engineering2024-12-310002006758Pharmaceuticals Orion Buyer, LLC Orion Buyer, LLC First Lien Secured Debt - Term Loan S+500, 1.00% Floor Maturity Date 7/18/20302024-12-310002006758Professional Services2025-03-310002006758GC Waves Holdings, Inc.2024-12-310002006758Machinery Milacron IOTA HOLDINGS 32025-03-310002006758ck0002006758:SpecialtyRetailMember2025-03-310002006758ck0002006758:BeveragesMemberck0002006758:FirstLienSecuredDebtMember2025-03-310002006758ck0002006758:TradingCompaniesAndDistributorsMember2024-12-310002006758SEKO Global Logistics Network, LLC Investment Type Common Equity - Stock2025-01-012025-03-310002006758ck0002006758:EnergyEquipmentServicesMember2024-12-310002006758Professional Services North Highland Company LLC The North Highland Company LLC First Lien Secured Debt - Term Loan S+475, 0.75% Floor Maturity Date 12/22/20312024-12-310002006758Consumer Staples Distribution & Retail2024-12-310002006758Construction & Engineering American Restoration American Restoration Holdings, LLC First Lien Secured Debt - Delayed Draw S+510, 1.00 % Floor Maturity Date 7/24/20302025-03-310002006758ck0002006758:ConsumerStaplesDistributionAndRetailMember2024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:PersonalProductsMember2024-12-310002006758Containers & Packaging Truvant NPPI Buyer, LLC First Lien Secured Debt – Revolver S+500, 1.00% Floor Maturity Date 8/20/20292025-03-310002006758ck0002006758:AssetsAcquiredByAffiliateBeforeDecemberTwentyTwoThousandAndEighteenMemberck0002006758:AssetTransferAgreementMember2025-01-012025-03-310002006758ck0002006758:ConstructionEngineeringMember2025-03-310002006758Pharmaceuticals Orion Buyer, LLC Orion Buyer, LLC First Lien Secured Debt – Revolver S+500, 1.00% Floor Maturity Date 7/18/20302025-03-310002006758ck0002006758:TextilesApparelAndLuxuryGoodsMemberck0002006758:FirstLienSecuredDebtMember2024-12-310002006758srt:MinimumMember2025-01-012025-03-310002006758Pavement Preservation Acquisition, LLC2024-12-310002006758Chemicals Universal Fiber Systems LLC Universal Fiber Systems LLC First Lien Secured Debt - Term Loan S+561, 1.00% Floor Maturity Date 9/30/20282025-03-310002006758Chemicals Lunar Buyer, LLC Lunar Buyer, LLC First Lien Secured Debt - Term Loan S+550, 0.75% Floor Maturity Date 10/3/20302025-03-310002006758Ground Transportation Beacon Mobility Corp. Beacon Mobility Corp. Investment Type First Lien Secured Debt - Delayed Draw Interest Rate S+635, 1.00% Floor Maturity Date 12/31/20252025-03-310002006758Entertainment DHX WildBrain Ltd. First Lien Secured Debt - Revolver S+600, 0.50% Floor Maturity Date 7/23/20292024-12-310002006758Pharmaceuticals PAI Pai Middle Tier, LLC First Lien Secured Debt – Revolver S+475, 0.75% Floor Maturity Date 2/13/20322025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:GroundTransportationMember2024-12-310002006758ck0002006758:InsuranceMemberck0002006758:FirstLienSecuredDebtMember2025-03-310002006758Professional Services North Highland Company LLC The North Highland Company LLC First Lien Secured Debt - Revolver S+475, 0.75% Floor Maturity Date 12/22/20302024-12-310002006758Textiles, Apparel & Luxury Goods2024-12-310002006758Specialty Retail Club Champion LLC Club Champion LLC First Lien Secured Debt - Revolver S+500, 0.75% Floor Maturity Date 6/14/20292024-12-310002006758Diversified Consumer Services FEV Acquisition Corporation FEV Acquisition Corporation First Lien Secured Debt - Term Loan 6.00% Maturity Date 7/15/20282025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberus-gaap:EntertainmentMember2025-03-310002006758Diversified Consumer Services Legacy.com Lotus Topco Inc. First Lien Secured Debt - Term Loan S+475, 1.00% Floor Maturity Date 6/7/20302025-03-310002006758Containers & Packaging Truvant NPPI Buyer, LLC First Lien Secured Debt - Term Loan S+500, 1.00% Floor Maturity Date 8/20/20292024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:SpecialtyRetailMember2024-12-310002006758Wireless Telecommunication Services Kane Communications LLC Kane Communications LLC First Lien Secured Debt - Term Loan S+601, 1.00% Floor Maturity Date 8/9/20272024-12-310002006758Diversified Consumer Services Ultra Clean Holdco LLC Ultra Clean Holdco LLC First Lien Secured Debt - Term Loan S+500, 1.00% Floor Maturity Date 7/1/20302025-03-310002006758Construction & Engineering Pavement Preservation Acquisition, LLC Pavement Preservation Acquisition, LLC First Lien Secured Debt - Term Loan S+525, 1.00 % Floor Maturity Date 8/9/20302025-03-310002006758Investments2025-03-310002006758Sperry Acquisition, LLC2025-03-310002006758Personal Products Elida Beauty PHOENIX YW BUYER, INC. First Lien Secured Debt - Revolver S+500, 1.00% Floor Maturity Date 5/31/20302024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:AerospaceDefenseMember2025-03-310002006758Hotels, Restaurants & Leisure Walter's Wedding WH BorrowerCo, LLC First Lien Secured Debt - Delayed Draw Interest Rate S+500, 1.00% Floor Maturity Date 8/2/20302025-03-310002006758Health Care Providers & Services TST Intermediate Holdings, LLC TST Intermediate Holdings, LLC First Lien Secured Debt - Term Loan Interest Rate S+560, 1.00% Floor Maturity Date 12/31/20282025-03-310002006758Automobile Components Cool Buyer, Inc. Cool Buyer, Inc. First Lien Secured Debt - Term Loan S+475, 1.00% Floor Maturity Date 10/31/20302024-12-310002006758Energy Equipment & Services Generator Buyer, Inc. Generator Buyer, Inc. First Lien Secured Debt – Revolver CORRA+525, 0.75% Floor Maturity Date 7/22/20302024-12-310002006758IT Services VikingCloud2024-12-310002006758Saffron Bidco Ltd2024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:SoftwareMember2024-12-310002006758Chemicals Lunar Buyer, LLC Lunar Buyer, LLC2025-03-310002006758ck0002006758:OneMonthCanadianOvernightRepoRateAverageCORRAMember2024-12-310002006758CI (MG) GROUP, LLC2025-03-310002006758ck0002006758:SixMonthsEuroInterbankOfferedRateEURIBORMember2025-03-310002006758Personal Products Elida Beauty PHOENIX YW BUYER, INC. First Lien Secured Debt - Revolver S+500, 1.00% Floor Maturity Date 5/31/20302025-03-310002006758Software Uniguest Uniguest Holdings, Inc First Lien Secured Debt - Revolver S+500, 1.00% Floor Maturity Date 11/27/20302024-12-310002006758Electric Utilities Dynagrid Megavolt Borrower, LLC Investment Type First Lien Secured Debt - Term Loan Interest Rate S+475, 1.00% Floor Maturity Date 2/13/20322025-03-310002006758Financial Services PMA PMA Parent Holdings, LLC Investment Type First Lien Secured Debt - Revolver Interest Rate S+525, 0.75% Floor Maturity Date 1/31/20312025-03-310002006758Ground Transportation HENIFF HOLDCO LLC Heniff Holdco, LLC First Lien Secured Debt - Term Loan S+585, 1.00% Floor Maturity Date 12/3/20262024-12-310002006758ck0002006758:SterlingOvernightIndexAverageMember2024-12-310002006758ck0002006758:HealthCareProvidersServicesMember2024-12-310002006758Health Care Equipment & Supplies Medical Guardian, LLC Medical Guardian, LLC First Lien Secured Debt - Term Loan Interest Rate S+500, 1.00% Floor Maturity Date 4/26/20282025-03-310002006758ck0002006758:SoftwareMember2025-03-310002006758ck0002006758:SixMonthsEuroInterbankOfferedRateEURIBORMember2024-12-310002006758Cool Buyer, Inc.2025-03-310002006758Construction & Engineering Pavement Preservation Acquisition, LLC Pavement Preservation Acquisition, LLC2024-12-310002006758TVG Orion Blocker, Inc. Investment Type Preferred Common Equity - Stock2025-01-012025-03-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:ValuationTechniqueMarketComparableTechniqueMemberck0002006758:FirstLienSecuredDebtMemberck0002006758:MeasurementInputComparableMultipleMember2024-12-310002006758Professional Services Escalent M&M OPCO, LLC First Lien Secured Debt - Term Loan S+810, 1.00% Floor Maturity Date 4/7/20292024-12-310002006758Personal Products Elida Beauty PHOENIX YW BUYER, INC.2025-03-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:CommonEquityInterestsMember2024-12-310002006758Communications Equipment 2025-03-310002006758Health Care Equipment & Supplies Natus Sensory, Inc. Natus Sensory, Inc.2025-03-310002006758Professional Services North Highland Company LLC The North Highland Company LLC First Lien Secured Debt - Delayed Draw S+475, 0.75% Floor Maturity Date 12/22/20312024-12-310002006758Transportation Infrastructure GAT GAT-Airline Ground Support Inc First Lien Secured Debt - Term Loan S+550, 1.00% Floor Maturity Date 5/9/20292024-12-310002006758Energy Equipment & Services Generator Buyer, Inc. Generator Buyer, Inc. Investment Type First Lien Secured Debt - Term Loan Interest Rate S+525, 0.75% Floor Maturity Date 7/22/20302025-03-310002006758ck0002006758:CommonEquityMemberck0002006758:PharmaceuticalsMember2024-12-310002006758Health Care Providers & Services Rarebreed Rarebreed Veterinary Partners, Inc. First Lien Secured Debt - Delayed Draw Interest Rate S+525, 1.00% Floor Maturity Date 4/18/20302025-03-310002006758Commercial Services & Supplies CRS Holdings, Inc. CRS Holdings, Inc. First Lien Secured Debt - Delayed Draw S+500, 1.00% Floor Maturity Date 6/6/20302024-12-310002006758Wireless Telecommunication Services2024-12-310002006758Generator Buyer, Inc.2025-03-310002006758Traffic Management Solutions, LLC2025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:AirFreightLogisticsMember2024-12-310002006758Beverages2025-03-310002006758Diversified Consumer Services Owl Acquisition, LLC Owl Acquisition, LLC First Lien Secured Debt - Term Loan S+535, 1.00% Floor Maturity Date 2/4/20282025-03-310002006758Diversified Consumer Services Rapid Express Car Wash, LLC Rapid Express Car Wash, LLC First Lien Secured Debt - Delayed Draw S+585, 1.00% Floor Maturity Date 12/23/20272025-03-310002006758Personal Products Advantice Health Jazz AH Holdco, LLC First Lien Secured Debt - Term Loan S+500, 0.75% Floor Maturity Date 4/3/20282024-12-310002006758Trading Companies & Distributors ORS Nasco WC ORS Buyer, Inc. First Lien Secured Debt – Delayed Draw S+500, 0.75% Floor Maturity Date 8/7/20312025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:ChemicalsMember2025-03-310002006758Textiles, Apparel & Luxury Goods MTI Group Acquisition Company MTI Group Acquisition Company First Lien Secured Debt - Term Loan S+610 Cash plus 1.00% PIK, 1.00% Floor Maturity Date 3/31/20252024-12-310002006758ck0002006758:AerospaceDefenseMember2025-03-310002006758Pavement Preservation Acquisition, LLC2025-03-310002006758us-gaap:EntertainmentMember2025-03-310002006758Health Care Providers & Services TST Intermediate Holdings, LLC TST Intermediate Holdings, LLC2024-12-310002006758Energy Equipment & Services Generator Buyer, Inc. Generator Buyer, Inc. Investment Type First Lien Secured Debt - Delayed Draw Interest Rate CORRA+525, 0.75% Floor Maturity Date 7/22/20302025-03-310002006758Aerospace & Defense2025-03-310002006758Aerospace & Defense Sperry Acquisition, LLC Sperry Acquisition, LLC First Lien Secured Debt - Term Loan S+525, 0.75% Floor Maturity Date 2/3/20312025-03-310002006758Pharmaceuticals Orion Buyer, LLC Orion Buyer, LLC First Lien Secured Debt - Delayed Draw S+500, 1.00% Floor Maturity Date 7/18/20302024-12-310002006758Commercial Services & Supplies Best Trash Bingo Group Buyer, Inc. First Lien Secured Debt - Delayed Draw S+500, 1.00% Floor Maturity Date 07/10/20312025-03-310002006758AMI Buyer, Inc.2025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:ConsumerStaplesDistributionAndRetailMember2025-03-310002006758Entertainment DHX WildBrain Ltd.2024-12-310002006758ck0002006758:CommonEquityInterestsMember2024-12-310002006758Building Products2024-12-310002006758Specialty Retail Club Champion LLC Club Champion LLC First Lien Secured Debt – Term Loan S+500, 0.75% Floor Maturity Date 6/14/20292025-03-310002006758Building Products Omnimax Omnimax International, LLC First Lien Secured Debt - Delayed Draw S+575, 1.00% Floor Maturity Date 12/6/20302024-12-310002006758Distinct Holdings Inc2025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:ContainersPackagingMember2025-03-310002006758ck0002006758:CommonEquityInterestsMember2024-01-012024-03-310002006758Consumer Staples Distribution & Retail2025-03-310002006758Pharmaceuticals PAI Pai Middle Tier, LLC PAI Co-Investor FT Aggregator LLC 2025-03-310002006758Pharmaceuticals Orion Buyer, LLC2024-12-310002006758Hotels, Restaurants & Leisure Walter's Wedding WH BorrowerCo, LLC First Lien Secured Debt - Revolver Interest Rate S+500, 1.00% Floor Maturity Date 8/2/20302025-03-310002006758Regis Corporation2025-03-310002006758IT Services TeamLINX Buyer, LLC TeamLINX Buyer, LLC First Lien Secured Debt - Term Loan Interest Rate S+500, 1.00% Floor Maturity Date 12/18/20302025-03-310002006758IT Services Distinct Holdings Inc2025-03-310002006758ck0002006758:CommonEquityMemberck0002006758:AutomobileComponentsMember2025-03-310002006758Hotels, Restaurants & Leisure American West Restaurant Group Holdings LLC American West Restaurant Group Holdings LLC First Lien Secured Debt - Term Loan 7.75% Maturity Date 2/2/20282024-12-310002006758Financial Services Wealth Enhancement Group Wealth Enhancement Group, LLC First Lien Secured Debt - Term Loan S+500, 1.00% Floor Maturity Date 10/4/20282024-12-310002006758ck0002006758:ElectronicEquipmentInstrumentsComponentsMember2024-12-310002006758IT Services VikingCloud Sysnet North America, Inc. First Lien Secured Debt - Revolver S+500, 0.75% Floor Maturity Date 8/6/20302024-12-310002006758Accelevation LLC2025-03-310002006758srt:MinimumMemberck0002006758:APLeafSecuredCreditFacilityMember2025-01-012025-03-310002006758Health Care Equipment & Supplies Dragonfly Health, Inc (fka StateServ Acquis Dragonfly Health, Inc First Lien Secured Debt - Term Loan Interest Rate S+600, 1.00% Floor Maturity Date 11/19/20272025-03-310002006758Diversified Consumer Services Go Car Wash Management, Corp. Go Car Wash Management, Corp. First Lien Secured Debt - Delayed Draw S+585, 1.00% Floor Maturity Date 12/31/20262024-12-310002006758Consumer Staples Distribution & Retail Protein for Pets Protein For Pets Opco, LLC2025-03-310002006758Diversified Consumer Services FEV Acquisition Corporation FEV Acquisition Corporation First Lien Secured Debt - Term Loan 6.50% Maturity Date 7/15/20282024-12-310002006758Bingo Group Buyer, Inc.2025-03-310002006758ck0002006758:HealthCareTechnologyMember2025-03-310002006758IT Services Distinct Holdings Inc Distinct Holdings Inc First Lien Secured Debt - Revolver Interest Rate S+575, 1.00% Floor Maturity Date 7/18/20292025-03-310002006758Health Care Equipment & Supplies Medical Guardian, LLC Medical Guardian, LLC First Lien Secured Debt - Term Loan S+585, 1.00% Floor Maturity Date 4/26/20282024-12-310002006758Health Care Providers & Services2024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberus-gaap:EntertainmentMember2024-12-310002006758Paper & Forest Products2025-03-310002006758Leisure Products Wellbeam Consumer Health Intermediate, LLC Wellbeam Consumer Health Intermediate, LLC2024-12-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:ValuationTechniqueRecentTransactionMemberck0002006758:FirstLienSecuredDebtMemberck0002006758:MeasurementInputRecentTransactionMember2024-12-310002006758Financial Services Wealth Enhancement Group Wealth Enhancement Group, LLC Investment Type First Lien Secured Debt - Term Loan Interest Rate S+500, 1.00% Floor Maturity Date 10/2/20282025-03-310002006758us-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMemberck0002006758:FirstLienSecuredDebtMemberus-gaap:MeasurementInputDiscountRateMember2024-12-310002006758Aerospace & Defense Sperry Acquisition, LLC Sperry Acquisition, LLC2025-03-310002006758ck0002006758:CommonEquityMemberck0002006758:AerospaceDefenseMember2025-03-310002006758Health Care Providers & Services Midwest Vision Partners Management, LLC Midwest Vision Partners Management, LLC2024-12-310002006758Professional Services DCM Parent, LLC DCM Parent, LLC First Lien Secured Debt – Revolver S+500, 1.00% Floor Maturity Date 3/12/20312025-03-310002006758Health Care Technology MRO Parent Corporation MRO Parent Corporation First Lien Secured Debt - Term Loan Interest Rate S+475, 1.00% Floor Maturity Date 10/22/20272025-03-310002006758HALO Buyer, Inc2025-03-310002006758Transportation Infrastructure GAT GAT-Airline Ground Support Inc First Lien Secured Debt – Term Loan S+550, 1.00% Floor Maturity Date 5/9/20292025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:ConstructionEngineeringMember2024-12-310002006758ck0002006758:IncentiveFeesFromCapitalGainsMemberck0002006758:ApolloCreditManagementLlcMember2024-03-310002006758ck0002006758:AutomobileComponentsMember2025-03-310002006758Entertainment DHX WildBrain Ltd. Investment Type First Lien Secured Debt - Term Loan Interest Rate S+600, 1.00% Floor Maturity Date 7/23/20292025-03-310002006758Commercial Services & Supplies Encore Fire Protection Encore Holdings, LLC First Lien Secured Debt - Term Loan S+535, 0.75% Floor Maturity Date 11/23/20282024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:CommunicationsEquipmentMember2025-03-310002006758Construction & Engineering American Restoration American Restoration Holdings, LLC2024-12-310002006758Food Products Berner Food & Beverage, LLC Berner Food & Beverage, LLC First Lien Secured Debt - Term Loan S+565, 1.00% Floor Maturity Date 7/30/20272024-12-310002006758ck0002006758:PharmaceuticalsMember2024-12-310002006758Software Uniguest Uniguest Holdings, Inc First Lien Secured Debt – Revolver S+500, 1.00% Floor Maturity Date 11/27/20302025-03-310002006758Food Products Berner Food & Beverage, LLC Berner Food & Beverage, LLC Investment Type First Lien Secured Debt - Term Loan Interest Rate S+565, 1.00% Floor Maturity Date 7/30/20272025-03-310002006758Commercial Services & Supplies Best Trash Bingo Group Buyer, Inc. First Lien Secured Debt - Term Loan S+500, 1.00% Floor Maturity Date 07/10/20312025-03-310002006758Hotels, Restaurants & Leisure PARS PARS Group LLC First Lien Secured Debt - Term Loan Interest Rate S+685, 1.50% Floor Maturity Date 4/3/20282025-03-310002006758ck0002006758:AirFreightLogisticsMember2024-12-310002006758Life Sciences Tools & Services2025-03-310002006758Financial Services GC Waves GC Waves Holdings, Inc. First Lien Secured Debt - Delayed Draw S+485, 0.75% Floor Maturity Date 10/4/20302024-12-310002006758Health Care Equipment & Supplies ACP Hyperdrive, Inc. ACP Hyperdrive, Inc. First Lien Secured Debt - Term Loan S+590, 1.00% Floor Maturity Date 3/8/20282024-12-310002006758Financial Services PMA PMA Parent Holdings, LLC2024-12-310002006758Containers & Packaging Berry Global Vybond Buyer, LLC First Lien Secured Debt – Revolver S+500, 0.75% Floor Maturity Date 2/3/20322025-03-310002006758us-gaap:LetterOfCreditMemberck0002006758:TotalCommitmentsMember2024-12-310002006758Chemicals Lunar Buyer, LLC Lunar Buyer, LLC First Lien Secured Debt - Delayed Draw S+550, 0.75% Floor Maturity Date 10/3/20302025-03-310002006758Health Care Providers & Services MAXOR ACQUISITION INC Maxor Acquisition, Inc. First Lien Secured Debt - Term Loan S+610, 1.00% Floor Maturity Date 3/1/20292024-12-310002006758Pharmaceuticals Orion Buyer, LLC TVG Orion Blocker, Inc. Unsecured Debt - Promissory Note 11.34% Maturity Date 7/18/20302024-12-310002006758Capital Markets Stout Stout Intermediate II, LLC First Lien Secured Debt - Term Loan S+510, 1.00% Floor Maturity Date 11/22/20272024-12-310002006758Diversified Consumer Services Legacy.com Lotus Topco Inc. First Lien Secured Debt – Revolver S+475, 1.00% Floor Maturity Date 6/7/20302025-03-310002006758ck0002006758:ItServicesMember2025-03-310002006758ck0002006758:PharmaceuticalsMemberus-gaap:UnsecuredDebtMember2025-03-310002006758GC Waves Holdings, Inc.2025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:ElectronicEquipmentInstrumentsComponentsMember2025-03-310002006758Diversified Consumer Services Regis Corporation Regis Corporation First Lien Secured Debt - Term Loan S+450, 2.50% Floor Maturity Date 6/24/20292025-03-310002006758Ultra Clean Holdco LLC2025-03-310002006758ck0002006758:TextilesApparelAndLuxuryGoodsMember2024-12-310002006758Trading Companies & Distributors WC ORS Holdings, L.P. Common Equity - Limited Partnership2025-03-310002006758Construction & Engineering Accelevation Accelevation LLC First Lien Secured Debt - Revolver S+500, 0.75% Floor Maturity Date 1/2/20312025-03-310002006758Ultra Clean Holdco LLC2024-12-310002006758Diversified Consumer Services Go Car Wash Management, Corp. Go Car Wash Management, Corp. First Lien Secured Debt - Delayed Draw S+585, 1.00% Floor Maturity Date 12/31/20262025-03-310002006758Building Products Omnimax Omnimax International, LLC First Lien Secured Debt - Delayed Draw S+575, 1.00% Floor Maturity Date 12/6/20302025-03-310002006758Vixxo Corporation2024-12-310002006758Machinery OEH OEH Parent Holdings, Inc. First Lien Secured Debt - Term Loan S+560, 1.00% Floor Maturity Date 11/9/20272024-12-310002006758ck0002006758:AirFreightLogisticsMember2025-03-310002006758ck0002006758:HealthCareEquipmentSuppliesMember2024-12-310002006758Commercial Services & Supplies CRS Holdings, Inc. CRS Holdings, Inc. First Lien Secured Debt - Revolver S+500, 1.00% Floor Maturity Date 6/6/20302025-03-310002006758ck0002006758:EnergyEquipmentServicesMember2025-03-310002006758IT Services VikingCloud2025-03-310002006758ck0002006758:ApolloCreditManagementLlcMember2025-01-012025-03-310002006758Construction & Engineering Traffic Management Solutions Traffic Management Solutions, LLC First Lien Secured Debt – Delayed Draw S+500, 1.00 % Floor Maturity Date 11/26/20302025-03-310002006758ck0002006758:IncentiveFeesFromPreIncentiveFeeNetInvestmentIncomeMemberck0002006758:ApolloCreditManagementLlcMembersrt:MaximumMember2025-01-012025-03-310002006758Consumer Staples Distribution & Retail Protein for Pets Protein For Pets Opco, LLC2024-12-310002006758IT Services TeamLINX Buyer, LLC TeamLINX Buyer, LLC First Lien Secured Debt - Revolver Interest Rate S+500, 1.00% Floor Maturity Date 12/18/20302025-03-310002006758Financial Services GC Waves GC Waves Holdings, Inc. Investment Type First Lien Secured Debt - Revolver Interest Rate S+475, 0.75% Floor Maturity Date 10/4/20302025-03-310002006758Building Products2025-03-310002006758Construction & Engineering American Restoration American Restoration Holdings, LLC First Lien Secured Debt - Term Loan S+510, 1.00% Floor Maturity Date 07/24/20302024-12-310002006758Aerospace & Defense SI Holdings, Inc. SI Holdings, Inc. First Lien Secured Debt - Term Loan S+585, 1.00% Floor Maturity Date 12/31/20272024-12-310002006758Media HALO Buyer, Inc. HALO Buyer, Inc First Lien Secured Debt - Term Loan S+600, 1.00% Floor Maturity Date 8/7/20292025-03-310002006758Orion Buyer, LLC2025-03-310002006758Personal Products Natural Partners Natural Partners, Inc. First Lien Secured Debt – Term Loan S+465, 1.00% Floor Maturity Date 11/29/20272025-03-310002006758ck0002006758:FirstLienSecuredDebtMember2025-03-310002006758Electrical Equipment2025-03-310002006758Professional Services North Highland Company Total Investments First Lien Secured Debt – Term Loan S+475, 0.75% Floor Maturity Date 12/22/20312025-03-310002006758ck0002006758:OneMonthSecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember2024-12-310002006758Automobile Components Cool Buyer, Inc. Cool Acquisition Holdings, LP Common Equity - Limited Partnership2024-12-310002006758ck0002006758:FirstLienSecuredDebtMember2024-12-310002006758WC ORS Buyer, Inc.2024-12-310002006758Professional Services Career Certified, LLC, Career Certified, LLC First Lien Secured Debt - Term Loan S+635, 1.00% Floor Maturity Date 12/18/20262024-12-310002006758IT Services TeamLINX Buyer, LLC2025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:ElectronicEquipmentInstrumentsComponentsMember2024-12-310002006758ck0002006758:UnfundedRevolverObligationsAndBridgeLoanCommitmentsMember2024-12-310002006758Pharmaceuticals Saffron Bidco Ltd Saffron Bidco Ltd2024-12-310002006758Health Care Equipment & Supplies FP UC Intermediate Holdings, Inc. FP UC Intermediate Holdings, Inc. First Lien Secured Debt - Term Loan Interest Rate S+550 Cash plus 1.00% PIK Maturity Date 11/22/20272025-03-310002006758Personal Products Elida Beauty PHOENIX YW BUYER, INC. First Lien Secured Debt - Term Loan S+500, 1.00% Floor Maturity Date 5/31/20302024-12-310002006758Chemicals Lunar Buyer, LLC Lunar Buyer, LLC First Lien Secured Debt - Revolver S+550, 0.75% Floor Maturity Date 10/3/20302024-12-310002006758Health Care Equipment & Supplies Dragonfly Health, Inc. Dragonfly Health, Inc. First Lien Secured Debt - Term Loan S+600, 1.00% Floor Maturity Date 11/19/20272024-12-310002006758Beverages Ronnoco Holdings, Inc. Ronnoco Holdings, Inc. Common Equity - Stock2025-03-310002006758Machinery BW Colson Acquisition LLC BW Colson Acquisition LLC First Lien Secured Debt - Term Loan S+515, 1.00% Floor Maturity Date 2/26/20272025-03-310002006758Energy Equipment & Services Generator Buyer, Inc. Generator Buyer, Inc. Investment Type First Lien Secured Debt - Term Loan Interest Rate CORRA+525, 0.75% Floor Maturity Date 7/22/20302025-03-310002006758Pharmaceuticals Saffron Bidco Ltd Saffron Bidco Ltd First Lien Secured Debt - Term Loan S+575, 0.75% Floor Maturity Date 9/11/20312024-12-310002006758us-gaap:FairValueInputsLevel3Member2024-12-310002006758Insurance 2024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:FoodProductsMember2025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:DiversifiedConsumerServicesMember2025-03-310002006758Professional Services North Highland Company Total Investments First Lien Secured Debt – Revolver S+475, 0.75% Floor Maturity Date 12/20/20302025-03-310002006758Bullcave Limited2025-03-310002006758Diversified Consumer Services Regis Corporation Regis Corporation First Lien Secured Debt – Revolver S+450, 2.50% Floor Maturity Date 6/24/20292024-12-310002006758Financial Services2025-03-310002006758Commercial Services & Supplies GS SEER Group Borrower LLC GS SEER Group Borrower LLC First Lien Secured Debt - Term Loan S+675, 1.00% Floor Maturity Date 4/29/20302025-03-310002006758Professional Services North Highland Company LLC The North Highland Company LLC2024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:ConsumerStaplesDistributionAndRetailMember2024-12-310002006758Hotels, Restaurants & Leisure2025-03-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:CommonEquityInterestsMemberck0002006758:ValuationTechniqueMarketComparableTechniqueMembersrt:MaximumMemberck0002006758:MeasurementInputComparableMultipleMember2025-03-310002006758Specialty Retail2024-12-310002006758Diversified Consumer Services Club Car Wash Club Car Wash Operating, LLC First Lien Secured Debt – Delayed Draw S+565, 1.00% Floor Maturity Date 06/16/20272024-12-310002006758Machinery Milacron IOTA HOLDINGS 3 First Lien Secured Debt - Term Loan S+475, 0.00% Floor Maturity Date 3/31/20322025-03-310002006758us-gaap:EntertainmentMember2024-12-310002006758Entertainment2024-12-310002006758us-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMembersrt:WeightedAverageMemberck0002006758:FirstLienSecuredDebtMemberus-gaap:MeasurementInputDiscountRateMember2024-12-310002006758Commercial Services & Supplies Tranzonic TZ Buyer LLC First Lien Secured Debt - Term Loan S+635, 0.75% Floor Maturity Date 8/12/20282024-12-310002006758Software Four Winds Interactive LLC Four Winds Interactive LLC First Lien Secured Debt – Delayed Draw S+650, 0.75% Floor Maturity Date 2/20/20302025-03-310002006758ck0002006758:HealthCareTechnologyMember2024-12-310002006758Commercial Services & Supplies Climate Pros Climate Pros, LLC First Lien Secured Debt - Term Loan S+585, 1.00% Floor Maturity Date 1/24/20262025-03-310002006758Containers & Packaging Berry Global Vybond Buyer, LLC First Lien Secured Debt - Term Loan S+500, 0.75% Floor Maturity Date 2/3/20322025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:MachineryMember2024-12-310002006758Hotels, Restaurants & Leisure PARS PARS Group LLC First Lien Secured Debt - Term Loan S+685, 1.50% Floor Maturity Date 4/3/20282024-12-310002006758Health Care Equipment & Supplies2024-12-310002006758Diversified Consumer Services Ultra Clean Holdco LLC Ultra Clean Holdco LLC First Lien Secured Debt - Delayed Draw S+500, 1.00% Floor Maturity Date 7/1/20302025-03-310002006758Software Four Winds Interactive LLC Four Winds Interactive LLC 2025-03-310002006758ck0002006758:FirstLienSecuredDebtMember2025-01-012025-03-310002006758Professional Services DCM Parent, LLC DCM Parent, LLC 2025-03-310002006758CRS Holdings, Inc.2025-03-310002006758Entertainment DHX WildBrain Ltd.2025-03-310002006758ck0002006758:ContainersPackagingMemberck0002006758:FirstLienSecuredDebtMember2024-12-310002006758Construction & Engineering Traffic Management Solutions Traffic Management Solutions, LLC2024-12-310002006758Health Care Equipment & Supplies MAXOR ACQUISITION INC Maxor Acquisition, Inc. First Lien Secured Debt - Term Loan Interest Rate S+610, 1.00% Floor Maturity Date 3/1/20292025-03-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:CommonEquityInterestsMemberck0002006758:ValuationTechniqueMarketComparableTechniqueMemberck0002006758:MeasurementInputComparableMultipleMember2024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:HealthCareProvidersServicesMember2024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:MachineryMember2025-03-310002006758Chemicals2025-03-310002006758ck0002006758:LifeSciencesToolsAndServicesMemberck0002006758:FirstLienSecuredDebtMember2024-12-310002006758Trading Companies & Distributors MacQueen Equipment MacQueen Equipment, LLC First Lien Secured Debt – Term Loan S+551, 1.00% Floor Maturity Date 1/7/20282025-03-3100020067582023-12-150002006758WC ORS Holdings, L.P. Investment Type Common Equity - Limited Partnership 2024-01-012024-12-310002006758us-gaap:FairValueInputsLevel2Memberck0002006758:FirstLienSecuredDebtMember2025-03-310002006758Media Terrier Gamut Holdings, Inc. Terrier Gamut Holdings, Inc. First Lien Secured Debt - Term Loan S+560, 1.00% Floor Maturity Date 8/15/20282025-03-310002006758Health Care Providers & Services Rarebreed Rarebreed Veterinary Partners, Inc. First Lien Secured Debt - Revolver S+525, 1.00% Floor Maturity Date 4/18/20302024-12-310002006758us-gaap:FairValueInputsLevel2Member2024-12-310002006758Professional Services KL Charlie Acquisition Company KL Charlie Acquisition Company First Lien Secured Debt – Term Loan S+560, 1.00% Floor Maturity Date 12/30/20262025-03-310002006758Life Sciences Tools & Services VCR Buyer, Inc. VCR Buyer, Inc. First Lien Secured Debt - Term Loan S+675 Cash plus 1.00% PIK, 0.75% Floor Maturity Date 4/28/20282024-12-310002006758Sysnet North America, Inc.2024-12-310002006758Aerospace & Defense Jonathan Acquisition Company Jonathan Acquisition Company First Lien Secured Debt - Term Loan S+510, 1.00% Floor Maturity Date 12/22/20262024-12-310002006758ck0002006758:O2025M1DividendsMember2025-01-012025-03-310002006758Communications Equipment2024-12-310002006758Specialty Retail2025-03-310002006758ck0002006758:ContainersPackagingMember2025-03-310002006758Wireless Telecommunication Services2025-03-310002006758Health Care Equipment & Supplies Midwest Vision Partners Management, LLC Midwest Vision Partners Management, LLC First Lien Secured Debt - Term Loan Interest Rate 10.83% PIK Maturity Date 1/12/20272025-03-310002006758ck0002006758:IncentiveFeesFromCapitalGainsMemberck0002006758:ApolloCreditManagementLlcMember2025-01-012025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:CapitalMarketsMember2025-03-310002006758ck0002006758:APLeafSecuredCreditFacilityMemberck0002006758:AssetTransferAgreementMember2023-12-012023-12-310002006758Commercial Services & Supplies Best Trash Bingo Group Buyer, Inc.2025-03-310002006758Diversified Consumer Services TCW Midco LLC TCW Midco LLC First Lien Secured Debt – Revolver S+575, 1.00% Floor Maturity Date 10/22/20292025-03-310002006758Aerospace & Defense2024-12-310002006758Commercial Services & Supplies Monarch Landscape Companies Monarch Landscape Holdings, LLC First Lien Secured Debt - Term Loan S+500, 0.75% Floor Maturity Date 10/2/20282025-03-310002006758Cool Acquisition Holdings, LP Investment Type Common Equity - Limited Partnership2024-01-012024-12-310002006758ck0002006758:FoodProductsMember2025-03-310002006758Commercial Services & Supplies Applied Technical Services, LLC Applied Technical Services, LLC First Lien Secured Debt - Term Loan S+590, 1.00% Floor Maturity Date 12/29/20262025-03-310002006758ck0002006758:CommercialServicesSuppliesMember2025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:SoftwareMember2025-03-310002006758ck0002006758:IncentiveFeesFromPreIncentiveFeeNetInvestmentIncomeMembersrt:MinimumMemberck0002006758:ApolloCreditManagementLlcMember2025-01-012025-03-310002006758Health Care Providers & Services Rarebreed Rarebreed Veterinary Partners, Inc. First Lien Secured Debt - Delayed Draw S+525, 1.00% Floor Maturity Date 4/18/20302024-12-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:FirstLienSecuredDebtMember2024-12-310002006758Commercial Services & Supplies Best Trash Bingo Group Buyer, Inc. First Lien Secured Debt - Revolver S+500, 1.00% Floor Maturity Date 07/10/20312025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:HealthCareTechnologyMember2025-03-310002006758us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberck0002006758:ValuationTechniqueMarketComparableTechniqueMemberck0002006758:FirstLienSecuredDebtMemberck0002006758:MeasurementInputComparableMultipleMember2025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:SpecialtyRetailMember2025-03-310002006758Professional Services DCM Parent, LLC DCM Parent, LLC First Lien Secured Debt – Term Loan S+500, 1.00% Floor Maturity Date 3/12/20312025-03-310002006758Pharmaceuticals Saffron Bidco Ltd Saffron Bidco Ltd First Lien Secured Debt - Term Loan E+575, 0.75% Floor Maturity Date 9/11/20312024-12-310002006758PAI Co-Investor FT Aggregator LLC Investment Type Common Equity - Stock2025-01-012025-03-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:CommonEquityInterestsMembersrt:WeightedAverageMemberck0002006758:ValuationTechniqueMarketComparableTechniqueMemberck0002006758:MeasurementInputComparableMultipleMember2024-12-310002006758Diversified Consumer Services Ultra Clean Holdco LLC Ultra Clean Holdco LLC First Lien Secured Debt - Term Loan S+500, 1.00% Floor Maturity Date 7/1/20302024-12-310002006758Insurance West-NR AcquisitionCo, LLC West-NR AcquisitionCo, LLC First Lien Secured Debt –Term Loan S+510, 1.00% Floor Maturity Date 12/27/20272024-12-310002006758ck0002006758:CommercialServicesSuppliesMemberck0002006758:FirstLienSecuredDebtMember2024-12-310002006758Leisure Products2024-12-310002006758us-gaap:FairValueInputsLevel3Memberus-gaap:UnsecuredDebtMember2025-03-310002006758Specialty Retail Club Champion LLC Club Champion LLC First Lien Secured Debt – Revolver S+500, 0.75% Floor Maturity Date 6/14/20292025-03-310002006758Trading Companies & Distributors ORS Nasco2025-03-310002006758srt:AffiliatedEntityMember2023-12-150002006758us-gaap:FairValueInputsLevel3Memberck0002006758:FirstLienSecuredDebtMemberus-gaap:CostApproachValuationTechniqueMemberck0002006758:MeasurementInputCostApproachMember2025-03-310002006758ck0002006758:IncentiveFeesFromCapitalGainsMembersrt:ScenarioForecastMemberck0002006758:ApolloCreditManagementLlcMember2025-03-152026-03-150002006758Commercial Services & Supplies Mariani CI (MG) GROUP, LLC First Lien Secured Debt - Term Loan S+550, 1.00% Floor Maturity Date 3/27/20302025-03-310002006758Hotels, Restaurants & Leisure Cave Enterprises Operations, LLC Cave Enterprises Operations, LLC First Lien Secured Debt - Term Loan Interest Rate S+660, 1.50% Floor Maturity Date 8/9/20282025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:ConstructionEngineeringMember2025-03-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:FirstLienSecuredDebtMemberck0002006758:ValuationTechniqueRecoveryAnalysisMemberck0002006758:MeasurementInputRecoverabilityMember2025-03-310002006758Construction & Engineering Carr and Duff, LLC Carr and Duff, LLC First Lien Secured Debt - Term Loan S+605, 1.00 % Floor Maturity Date 3/11/20272025-03-310002006758Ground Transportation2025-03-310002006758Pharmaceuticals Trillium Health Care Products Trillium Health Care Products Inc. 2025-03-310002006758ck0002006758:ElectronicEquipmentInstrumentsComponentsMember2025-03-310002006758ck0002006758:ElectricalEquipmentMemberck0002006758:FirstLienSecuredDebtMember2024-12-3100020067582023-12-310002006758Construction & Engineering2025-03-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:CommonEquityInterestsMemberck0002006758:ValuationTechniqueMarketComparableTechniqueMembersrt:MinimumMemberck0002006758:MeasurementInputComparableMultipleMember2025-03-310002006758ck0002006758:PharmaceuticalsMemberck0002006758:FirstLienSecuredDebtMember2025-03-310002006758Software AMI Buyer, Inc. AMI Buyer, Inc. First Lien Secured Debt – Term Loan S+525, 0.75% Floor Maturity Date 10/17/20312025-03-310002006758Software AMI Buyer, Inc. AMI Buyer, Inc. First Lien Secured Debt – Revolver S+525, 0.75% Floor Maturity Date 10/17/20312025-03-310002006758srt:MaximumMember2025-01-012025-03-310002006758Health Care Equipment & Supplies ACP Hyperdrive, Inc. ACP Hyperdrive, Inc. Investment Type First Lien Secured Debt - Term Loan Interest Rate S+590, 1.00% Floor Maturity Date 3/8/20282025-03-310002006758Leisure Products Lash OpCo, LLC Lash OpCo, LLC First Lien Secured Debt - Term Loan S+700 1.00% Floor Maturity Date 3/18/20262025-03-310002006758IT Services Distinct Holdings Inc Distinct Holdings Inc First Lien Secured Debt - Revolver S+575, 1.00%Floor Maturity Date 7/18/20292024-12-310002006758Aerospace & Defense Sperry Acquisition, LLC Sperry Acquisition, LLC First Lien Secured Debt - Revolver S+525, 0.75% Floor Maturity Date 2/3/20312025-03-310002006758Energy Equipment & Services2025-03-310002006758Construction & Engineering SAFEbuilt, LLC SAFEbuilt, LLC First Lien Secured Debt – Term Loan S+685, 1.00 % Floor Maturity Date 12/31/20252025-03-310002006758Health Care Providers & Services Thomas Scientific, LLC Thomas Scientific, LLC First Lien Secured Debt - Term Loan Interest Rate S+340 Cash plus 4.25% PIK Maturity Date 12/14/20272025-03-310002006758Commercial Services & Supplies Vixxo Corporation Vixxo Corporation2024-12-310002006758Energy Equipment & Services2024-12-310002006758The North Highland Company LLC2025-03-310002006758Machinery Milacron IOTA HOLDINGS 3 First Lien Secured Debt - Revolver S+475, 0.00% Floor Maturity Date 3/31/20322025-03-310002006758Health Care Providers & Services Rarebreed Rarebreed Veterinary Partners, Inc. First Lien Secured Debt - Term Loan S+525, 1.00% Floor Maturity Date 4/18/20302024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:MediaMember2025-03-310002006758SEKO Global Logistics Network, LLC Investment Type Common Equity - Stock2024-01-012024-12-310002006758Containers & Packaging Berry Global Vybond Buyer, LLC2025-03-310002006758IT Services TeamLINX Buyer, LLC TeamLINX Buyer, LLC2024-12-310002006758ck0002006758:ElectricalEquipmentMember2025-03-310002006758Pharmaceuticals Saffron Bidco Ltd Saffron Bidco Ltd First Lien Secured Debt - Term Loan E+575, 0.75% Floor Maturity Date 9/11/20312025-03-310002006758Insurance West-NR AcquisitionCo, LLC West-NR AcquisitionCo, LLC First Lien Secured Debt - Term Loan Interest Rate S+510, 1.00% Floor Maturity Date 12/27/20272025-03-310002006758ck0002006758:FirstLienSecuredDebtMember2024-03-310002006758ck0002006758:AutomobileComponentsMember2024-12-310002006758ck0002006758:TransportationInfrastructureMemberck0002006758:FirstLienSecuredDebtMember2024-12-310002006758ck0002006758:O2025Q2DividendsMemberus-gaap:SubsequentEventMember2025-05-070002006758ck0002006758:SoftwareMember2024-12-310002006758ck0002006758:OneMonthSecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember2025-03-310002006758us-gaap:UnsecuredDebtMember2024-12-310002006758Traffic Management Solutions, LLC2024-12-310002006758ck0002006758:SixMonthsSecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember2025-03-310002006758Software F&M Buyer LLC F&M Buyer LLC First Lien Secured Debt – Term Loan S+475, 0.75% Floor Maturity Date 3/18/20322025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:TradingCompaniesAndDistributorsMember2024-12-310002006758Automobile Components Cool Buyer, Inc. Cool Buyer, Inc. First Lien Secured Debt - Revolver S+475, 1.00% Floor Maturity Date 10/31/20302024-12-310002006758Health Care Equipment & Supplies Dr. Scholls DRS Holdings III, Inc. First Lien Secured Debt - Revolver Interest Rate S+525, 1.00% Floor Maturity Date 11/1/20282025-03-310002006758American Restoration Holdings, LLC2025-03-310002006758GAT-Airline Ground Support Inc2025-03-310002006758Consumer Staples Distribution & Retail THLP CO., LLC THLP CO., LLC First Lien Secured Debt - Term Loan S+600, 1.00% Floor Maturity Date 1/31/20272024-12-310002006758Commercial Services & Supplies Mariani CI (MG) GROUP, LLC First Lien Secured Debt - Revolver S+550, 1.00% Floor Maturity Date 3/27/20302025-03-310002006758AMI Buyer, Inc.2024-12-310002006758Diversified Consumer Services Legacy.com Lotus Topco Inc. First Lien Secured Debt - Term Loan S+475, 1.00% Floor Maturity Date 6/7/20302024-12-310002006758Cool Acquisition Holdings, LP Investment Type Common Equity - Limited Partnership2025-01-012025-03-310002006758Automobile Components AAMP Global Holdings, Inc. AAMP Global Holdings, Inc. First Lien Secured Debt - Term Loan S+535, 1.00% Floor Maturity Date 11/5/20252025-03-310002006758Consumer Staples Distribution & Retail Protein for Pets Protein For Pets Opco, LLC First Lien Secured Debt - Revolver S+525, 1.00% Floor Maturity Date 9/20/20302024-12-310002006758Pharmaceuticals Orion Buyer, LLC Orion Buyer, LLC First Lien Secured Debt - Revolver S+400, 1.00% Floor Maturity Date 7/18/20302024-12-310002006758ck0002006758:FEVAcquisitionCorporationMember2025-03-310002006758American Restoration Holdings, LLC2024-12-310002006758Construction & Engineering American Restoration American Restoration Holdings, LLC First Lien Secured Debt - Revolver S+510, 1.00% Floor Maturity Date 07/24/20302024-12-310002006758Leisure Products Wellbeam Consumer Health Intermediate, LLC Wellbeam Consumer Health Intermediate, LLC2025-03-310002006758ck0002006758:IncentiveFeesFromPreIncentiveFeeNetInvestmentIncomeMemberck0002006758:ApolloCreditManagementLlcMember2025-01-012025-03-310002006758Commercial Services & Supplies CRS Holdings, Inc. CRS Holdings, Inc. First Lien Secured Debt - Delayed Draw S+500, 1.00% Floor Maturity Date 6/6/20302025-03-310002006758Software Four Winds Interactive LLC Four Winds Interactive LLC First Lien Secured Debt – Revolver S+650, 0.75% Floor Maturity Date 2/20/20302025-03-310002006758Trading Companies & Distributors Eckhart BidCo, LLC Eckhart BidCo, LLC First Lien Secured Debt – Term Loan S+560, 1.00% Floor Maturity Date 1/10/20292025-03-310002006758Building Products Omnimax Omnimax International, LLC First Lien Secured Debt - Term Loan S+575, 1.00% Floor Maturity Date 12/6/20302024-12-310002006758Uniguest Holdings, Inc2024-12-310002006758Diversified Consumer Services Ultra Clean Holdco LLC Ultra Clean Holdco LLC First Lien Secured Debt - Delayed Draw S+500, 1.00% Floor Maturity Date 7/1/20302024-12-310002006758Construction & Engineering Kauffman Intermediate, LLC Kauffman Intermediate, LLC First Lien Secured Debt - Term Loan S+660, 1.00 % Floor Maturity Date 5/8/20262025-03-310002006758Commercial Services & Supplies 2025-03-310002006758Construction & Engineering Pavement Preservation Acquisition, LLC Pavement Preservation Acquisition, LLC First Lien Secured Debt - Revolver S+525, 1.00 % Floor Maturity Date 8/9/20302025-03-3100020067582024-12-310002006758Hotels, Restaurants & Leisure YTC Enterprises, LLC YTC Enterprises, LLC First Lien Secured Debt –Term Loan S+636, 1.00% Floor Maturity Date 8/16/20262024-12-310002006758Health Care Providers & Services Team Select Team Select TS Investors, LLC First Lien Secured Debt - Term Loan S+560, 1.00% Floor Maturity Date 5/4/20292024-12-310002006758Generator Buyer, Inc.2024-12-310002006758Diversified Consumer Services TCW Midco LLC TCW Midco LLC First Lien Secured Debt - Delayed Draw S+575, 1.00% Floor Maturity Date 10/22/20292024-12-310002006758Aspen Aerogels, Inc.2025-03-310002006758Specialty Retail Club Champion LLC Club Champion LLC2025-03-310002006758Software AMI Buyer, Inc. AMI Buyer, Inc. 2025-03-310002006758country:GB2025-03-310002006758ck0002006758:ItServicesMember2024-12-310002006758Pharmaceuticals Saffron Bidco Ltd Saffron Bidco Ltd First Lien Secured Debt - Delayed Draw SONIA+575, 0.75% Floor Maturity Date 9/11/20312024-12-310002006758Media2025-03-310002006758Financial Services2024-12-310002006758Commercial Services & Supplies Jones JF Acquisition, LLC First Lien Secured Debt - Term Loan S+560, 1.00% Floor Maturity Date 7/31/20262025-03-310002006758ck0002006758:ThreeMonthsSecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember2024-12-310002006758Diversified Consumer Services Legacy.com Lotus Topco Inc. First Lien Secured Debt – Revolver S+475, 1.00% Floor Maturity Date 6/7/20302024-12-310002006758Automobile Components2025-03-310002006758ck0002006758:FoodProductsMember2024-12-310002006758us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Memberck0002006758:FirstLienSecuredDebtMembersrt:MinimumMemberus-gaap:MeasurementInputDiscountRateMember2024-12-310002006758Personal Products Natural Partners Natural Partners, Inc. First Lien Secured Debt - Revolver S+465, 1.00% Floor Maturity Date 11/29/20272024-12-310002006758Electric Utilities2025-03-3100020067582023-12-152023-12-150002006758Diversified Consumer Services TCW Midco LLC TCW Midco LLC2024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:TradingCompaniesAndDistributorsMember2025-03-310002006758TVG Orion Blocker, Inc. Investment Type Common Equity - Stock2024-01-012024-12-310002006758ck0002006758:FirstLienSecuredDebtMember2025-03-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:CommonEquityInterestsMemberus-gaap:CostApproachValuationTechniqueMemberck0002006758:MeasurementInputCostApproachMember2025-03-310002006758Diversified Consumer Services Legacy.com Lotus Topco Inc.2025-03-310002006758ck0002006758:ChemicalsMember2025-03-310002006758Chemicals Aspen Aerogels, Inc. Aspen Aerogels, Inc. First Lien Secured Debt - Term Loan S+450, 4.50% Floor Maturity Date 8/19/20292024-12-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:ValuationTechniqueMarketComparableTechniqueMembersrt:MinimumMemberus-gaap:UnsecuredDebtMemberck0002006758:MeasurementInputComparableMultipleMember2024-12-310002006758ck0002006758:InsuranceMemberck0002006758:FirstLienSecuredDebtMember2024-12-310002006758Transportation Infrastructure GAT GAT-Airline Ground Support Inc First Lien Secured Debt – Revolver S+550, 1.00% Floor Maturity Date 5/9/20292025-03-310002006758Commercial Services & Supplies2024-12-310002006758Diversified Consumer Services Regis Corporation Regis Corporation First Lien Secured Debt – Revolver S+450, 2.50% Floor Maturity Date 6/24/20292025-03-310002006758Pharmaceuticals Trillium Health Care Products Trillium Health Care Products Inc. First Lien Secured Debt - Term Loan S+525, 1.00% Floor Maturity Date 8/6/20312025-03-310002006758ck0002006758:CommonEquityInterestsMember2025-01-012025-03-310002006758Construction & Engineering Accelevation Accelevation LLC2025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:BuildingProductsMember2024-12-310002006758Pharmaceuticals Saffron Bidco Ltd Saffron Bidco Ltd First Lien Secured Debt - Delayed Draw SONIA+575, 0.75% Floor Maturity Date 9/11/20312025-03-310002006758Construction & Engineering Pavement Preservation Acquisition, LLC Pavement Preservation Acquisition, LLC2025-03-310002006758Air Freight & Logistics2025-03-310002006758ck0002006758:PersonalProductsMember2025-03-310002006758ck0002006758:ElectricUtilitiesMember2025-03-310002006758ck0002006758:LeisureProductsMember2024-12-310002006758ck0002006758:BuildingProductsMember2025-03-310002006758Specialty Retail Paladone Group Bidco Limited Paladone Group Bidco Limited First Lien Secured Debt – Term Loan S+560, 1.00% Floor Maturity Date 11/12/20272025-03-310002006758WC ORS Holdings, L.P. Investment Type Common Equity - Limited Partnership2025-01-012025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:BuildingProductsMember2025-03-310002006758Health Care Providers & Services WelldyneRX, LLC WelldyneRX, LLC First Lien Secured Debt - Term Loan S+685, 0.75% Floor Maturity Date 3/09/20272024-12-310002006758Beverages Ronnoco Holdings, Inc. Ronnoco Holdings, Inc. First Lien Secured Debt - Term Loan S+450, 1.00% Floor Maturity Date 3/17/20312025-03-310002006758Automobile Components Cool Buyer, Inc. Cool Buyer, Inc. First Lien Secured Debt - Term Loan S+475, 1.00% Floor Maturity Date 10/31/20302025-03-310002006758ck0002006758:IncentiveFeesFromCapitalGainsMemberck0002006758:ApolloCreditManagementLlcMember2025-03-310002006758ck0002006758:LifeSciencesToolsAndServicesMemberck0002006758:FirstLienSecuredDebtMember2025-03-310002006758ck0002006758:ContainersPackagingMember2024-12-310002006758Media HALO Buyer, Inc. HALO Buyer, Inc2025-03-310002006758Construction & Engineering American Restoration American Restoration Holdings, LLC First Lien Secured Debt - Term Loan S+510, 1.00 % Floor Maturity Date 7/24/20302025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:MediaMember2024-12-310002006758Commercial Services & Supplies CRS Holdings, Inc. CRS Holdings, Inc.2025-03-310002006758Diversified Consumer Services2024-12-310002006758Leisure Products Dan Dee International Holdings, Inc. Dan Dee International Holdings, Inc. 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First Lien Secured Debt - Revolver S+475, 1.00% Floor Maturity Date 10/31/20302025-03-310002006758Construction & Engineering Pave America Pave America Interco, LLC First Lien Secured Debt - Term Loan S+690, 1.00% Floor Maturity Date 2/7/20282024-12-310002006758Leisure Products Lash OpCo, LLC Lash OpCo, LLC First Lien Secured Debt - Term Loan S+275 Cash plus 4.35% PIK, 1.00% Floor Maturity Date 3/18/20262024-12-310002006758ck0002006758:HotelsRestaurantsLeisureMember2024-12-310002006758Chemicals Lunar Buyer, LLC Lunar Buyer, LLC First Lien Secured Debt - Term Loan S+550, 0.75% Floor Maturity Date 10/3/20302024-12-310002006758Media HU Buyer, Inc. HU Buyer, Inc. First Lien Secured Debt - Term Loan S+610, 1.00% Floor Maturity Date 12/29/20262025-03-310002006758Transportation Infrastructure GAT GAT-Airline Ground Support Inc First Lien Secured Debt - Delayed Draw S+550, 1.00% Floor Maturity Date 5/9/20292024-12-310002006758us-gaap:CommonStockMember2024-01-012024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:WirelessTelecommunicationServicesMember2025-03-310002006758ck0002006758:CommonEquityInterestsMember2024-03-310002006758Entertainment Chernin Entertainment Jewel Purchaser, Inc. 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Ronnoco Holdings, Inc. 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First Lien Secured Debt – Term Loan S+500, 0.75% Floor Maturity Date 8/7/20312025-03-3100020067582024-03-140002006758ck0002006758:FirstLienSecuredDebtMember2023-12-310002006758Life Sciences Tools & Services2024-12-310002006758Trillium Health Care Products Inc.2025-03-310002006758ck0002006758:ProfessionalServicesMember2025-03-310002006758us-gaap:FairValueInputsLevel2Memberck0002006758:FirstLienSecuredDebtMember2024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:ItServicesMember2024-12-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:ValuationTechniqueMarketComparableTechniqueMemberus-gaap:UnsecuredDebtMemberck0002006758:MeasurementInputComparableMultipleMember2024-12-310002006758IT Services Distinct Holdings Inc Distinct Holdings Inc First Lien Secured Debt - Term Loan S+575, 1.00%Floor Maturity Date 7/18/20292024-12-310002006758ck0002006758:AerospaceDefenseMember2024-12-310002006758Hotels, Restaurants & Leisure Walter's Wedding WH BorrowerCo, LLC First Lien Secured Debt - Term Loan S+500, 1.00% Floor Maturity Date 8/1/20302024-12-310002006758Financial Services GC Waves GC Waves Holdings, Inc.2024-12-310002006758Containers & Packaging2024-12-310002006758Construction & Engineering Pavement Preservation Acquisition, LLC Pavement Preservation Acquisition, LLC First Lien Secured Debt - Delayed Draw S+525, 1.00 % Floor Maturity Date 8/9/20302025-03-310002006758ck0002006758:ElectricalEquipmentMemberck0002006758:FirstLienSecuredDebtMember2025-03-310002006758Commercial Services & Supplies Applied Technical Services, LLC Applied Technical Services, LLC First Lien Secured Debt - Term Loan S+590, 1.00% Floor Maturity Date 12/29/20262024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:FinancialServicesMember2025-03-310002006758ck0002006758:LifeSciencesToolsAndServicesMember2025-03-310002006758Containers & Packaging Truvant NPPI Buyer, LLC First Lien Secured Debt – Delayed Draw S+500, 1.00% Floor Maturity Date 8/20/20292025-03-310002006758us-gaap:UnsecuredDebtMember2024-03-310002006758Pharmaceuticals Orion Buyer, LLC TVG Orion Blocker, Inc. Unsecured Debt - Promissory Note 11.34% Maturity Date 7/11/20302025-03-310002006758Regis Corporation2024-12-310002006758Energy Equipment & Services Generator Buyer, Inc. Generator Buyer, Inc. Investment Type First Lien Secured Debt - Revolver Interest Rate CORRA+525, 0.75% Floor Maturity Date 7/22/20302025-03-310002006758Vybond Buyer, LLC2025-03-310002006758us-gaap:UnsecuredDebtMember2025-01-012025-03-310002006758Financial Services GC Waves GC Waves Holdings, Inc First Lien Secured Debt – Revolver S+475, 0.75% Floor Maturity Date 10/4/20302024-12-310002006758Pharmaceuticals Orion Buyer, LLC Orion Buyer, LLC First Lien Secured Debt – Term Loan S+500, 1.00% Floor Maturity Date 7/18/20302025-03-310002006758Health Care Providers & Services Midwest Vision Partners Management, LLC Midwest Vision Partners Management, LLC First Lien Secured Debt - Term Loan S+450 Cash plus 2.00% PIK, 1.00% Floor Maturity Date 1/12/20272024-12-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:ValuationTechniqueMarketComparableTechniqueMembersrt:MinimumMemberus-gaap:UnsecuredDebtMemberck0002006758:MeasurementInputComparableMultipleMember2025-03-310002006758Health Care Providers & Services Veristat Group Inc. Veristat Group Inc. First Lien Secured Debt - Term Loan S+585, 1.00% Floor Maturity Date 3/31/20272024-12-310002006758Machinery OEH OEH Parent Holdings, Inc. First Lien Secured Debt - Term Loan S+535, 1.00% Floor Maturity Date 11/9/20272025-03-310002006758ck0002006758:CommonEquityMember2025-03-310002006758IT Services2024-12-310002006758Health Care Providers & Services Rarebreed Rarebreed Veterinary Partners, Inc.2024-12-310002006758Health Care Technology Parcelshield Holdings LLC Parcelshield Holdings LLC First Lien Secured Debt - Term Loan S+560, 1.00% Floor Maturity Date 9/30/20272024-12-310002006758Pharmaceuticals AHP Timberwolf Bidco Corp. AHP Timberwolf Bidco Corp. First Lien Secured Debt - Revolver S+525, 1.00% Floor Maturity Date 8/6/20312024-12-310002006758Health Care Equipment & Supplies Dr. Scholls DRS Holdings III, Inc. 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First Lien Secured Debt - Term Loan CORRA+525, 0.75% Floor Maturity Date 7/22/20302024-12-310002006758Health Care Equipment & Supplies2025-03-310002006758Transportation Infrastructure2024-12-310002006758Construction & Engineering Pavement Preservation Acquisition, LLC Pavement Preservation Acquisition, LLC First Lien Secured Debt - Term Loan S+525, 1.00% Floor Maturity Date 8/9/20302024-12-310002006758Health Care Equipment & Supplies Dr. Scholls2025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:HealthCareEquipmentSuppliesMember2025-03-310002006758Software Uniguest Uniguest Holdings, Inc First Lien Secured Debt – Term Loan S+500, 1.00% Floor Maturity Date 11/27/20302025-03-310002006758Four Winds Interactive LLC2025-03-310002006758Software Uniguest Uniguest Holdings, Inc First Lien Secured Debt - Delayed Draw S+500, 1.00% Floor Maturity Date 11/27/20302024-12-310002006758ck0002006758:HotelsRestaurantsLeisureMemberck0002006758:FirstLienSecuredDebtMember2025-03-310002006758Health Care Providers & Services Rarebreed Rarebreed Veterinary Partners, Inc. First Lien Secured Debt - Term Loan Interest Rate S+525, 1.00% Floor Maturity Date 4/18/20302025-03-310002006758Air Freight & Logistics2024-12-310002006758ck0002006758:AssetTransferAgreementMember2024-01-012024-03-310002006758Transportation Infrastructure GAT GAT-Airline Ground Support Inc First Lien Secured Debt - Revolver S+550, 1.00% Floor Maturity Date 5/9/20292024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:LeisureProductsMember2024-12-310002006758Trading Companies & Distributors Eckhart BidCo, LLC Eckhart BidCo, LLC First Lien Secured Debt - Term Loan S+560, 1.00% Floor Maturity Date 1/10/20292024-12-310002006758Aerospace & Defense Sperry Acquisition, LLC Sperry Acquisition, LLC First Lien Secured Debt - Delayed Draw S+525, 0.75% Floor Maturity Date 2/3/20312025-03-310002006758ck0002006758:O2025Q2DividendsMemberus-gaap:SubsequentEventMember2025-05-072025-05-070002006758Software AMI Buyer, Inc. AMI Buyer, Inc. First Lien Secured Debt - Term Loan S+525, 0.75% Floor Maturity Date 10/17/20312024-12-310002006758Pai Middle Tier, LLC2025-03-310002006758Health Care Providers & Services TST Intermediate Holdings, LLC TST Intermediate Holdings, LLC First Lien Secured Debt - Delayed Draw S+585, 1.00% Floor Maturity Date 11/27/20262024-12-310002006758ck0002006758:DiversifiedConsumerServicesMember2025-03-310002006758Commercial Services & Supplies LAV GEAR HOLDINGS INC LAV Gear Holdings, inc First Lien Secured Debt - Term Loan S+643, 1.00% Floor Maturity Date 10/31/20252024-12-310002006758Communications Equipment Congruex Congruex Group LL First Lien Secured Debt - Term Loan S+665, 0.75% Floor Maturity Date 5/3/20292025-03-310002006758Electronic Equipment, Instruments & Components2024-12-310002006758Commercial Services & Supplies Best Trash Bingo Group Buyer, Inc.2024-12-310002006758Pharmaceuticals AHP Timberwolf Bidco Corp. AHP Timberwolf Bidco Corp. First Lien Secured Debt - Term Loan S+525, 1.00% Floor Maturity Date 8/6/20312024-12-310002006758Software Four Winds Interactive LLC Four Winds Interactive LLC First Lien Secured Debt – Term Loan S+650, 0.75% Floor Maturity Date 2/20/20302025-03-310002006758Orion Buyer, LLC2024-12-310002006758country:GB2024-12-310002006758ck0002006758:FEVAcquisitionCorporationMember2024-12-310002006758Containers & Packaging MSI Express, Inc. NCP-MSI Buyer2025-03-310002006758ck0002006758:CommercialServicesSuppliesMember2024-12-310002006758ck0002006758:CommercialServicesSuppliesMemberck0002006758:FirstLienSecuredDebtMember2025-03-310002006758Construction & Engineering American Restoration American Restoration Holdings, LLC First Lien Secured Debt – Revolver S+510, 1.00 % Floor Maturity Date 7/24/20302025-03-310002006758ck0002006758:HotelsRestaurantsLeisureMemberck0002006758:FirstLienSecuredDebtMember2024-12-310002006758ck0002006758:FirstLienSecuredDebtMember2024-12-310002006758us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberck0002006758:ValuationTechniqueMarketComparableTechniqueMemberus-gaap:UnsecuredDebtMemberck0002006758:MeasurementInputComparableMultipleMember2025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:ElectricUtilitiesMember2025-03-310002006758Diversified Consumer Services Ultra Clean Holdco LLC Ultra Clean Holdco LLC First Lien Secured Debt – Revolver S+500, 1.00% Floor Maturity Date 7/1/20302024-12-310002006758Diversified Consumer Services Ultra Clean Holdco LLC Ultra Clean Holdco LLC2024-12-310002006758Machinery2024-12-310002006758Diversified Consumer Services Ultra Clean Holdco LLC Ultra Clean Holdco LLC First Lien Secured Debt – Revolver S+500, 1.00% Floor Maturity Date 7/1/20302025-03-310002006758ck0002006758:SeniorSecuredFacilityAndSpvFinancingFacilitiesMember2025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:ChemicalsMember2024-12-310002006758ck0002006758:TradingCompaniesAndDistributorsMember2025-03-310002006758Trading Companies & Distributors ORS Nasco WC ORS Buyer, Inc. First Lien Secured Debt - Delayed Draw S+500, 0.75% Floor Maturity Date 8/7/20312024-12-3100020067582024-01-012024-12-310002006758Electronic Equipment, Instruments & Compone2025-03-3100020067582024-03-152024-03-310002006758ck0002006758:GroundTransportationMember2024-12-310002006758Diversified Consumer Services2025-03-310002006758Chemicals2024-12-310002006758Insurance2025-03-310002006758Ground Transportation Beacon Mobility Corp. Beacon Mobility Corp. First Lien Secured Debt - Delayed Draw S+635, 1.00% Floor Maturity Date 12/31/20252024-12-310002006758Personal Products2024-12-310002006758ck0002006758:APLeafSecuredCreditFacilityMember2024-01-012024-03-310002006758Rarebreed Veterinary Partners, Inc.2025-03-310002006758Financial Services GC Waves GC Waves Holdings, Inc. First Lien Secured Debt - Term Loan S+485, 0.75% Floor Maturity Date 10/4/20302024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:AerospaceDefenseMember2024-12-310002006758ck0002006758:TransportationInfrastructureMember2024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:EnergyEquipmentServicesMember2025-03-310002006758Health Care Providers & Services Midwest Vision Partners Management, LLC Midwest Vision Partners Management, LLC First Lien Secured Debt - Term Loan S+650 PIK, 1.00% Floor Maturity Date 1/12/20272024-12-310002006758ck0002006758:APLeafSecuredCreditFacilityMember2025-01-012025-03-310002006758TeamLINX Buyer, LLC2025-03-310002006758ck0002006758:LeisureProductsMember2025-03-310002006758TCW Midco LLC2025-03-310002006758Trading Companies & Distributors WC ORS Holdings, L.P. Common Equity - Limited Partnership2024-12-310002006758Health Care Equipment & Supplies Natus Sensory, Inc. Natus Sensory, Inc. First Lien Secured Debt - Term Loan Interest Rate S+525, 0.00% Floor Maturity Date 1/7/20312025-03-310002006758ck0002006758:CommonEquityMemberck0002006758:AutomobileComponentsMember2024-12-310002006758Entertainment2025-03-310002006758ck0002006758:TransportationInfrastructureMember2025-03-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:ValuationTechniqueMarketComparableTechniqueMemberus-gaap:UnsecuredDebtMembersrt:MaximumMemberck0002006758:MeasurementInputComparableMultipleMember2025-03-310002006758IT Services TeamLINX Buyer, LLC TeamLINX Buyer, LLC First Lien Secured Debt - Term Loan S+500, 1.00% Floor Maturity Date 12/18/20302024-12-310002006758Protein For Pets Opco, LLC2025-03-310002006758Trading Companies & Distributors ORS Nasco2024-12-310002006758Energy Equipment & Services Generator Buyer, Inc. Generator Buyer, Inc. First Lien Secured Debt - Delayed Draw CORRA+525, 0.75% Floor Maturity Date 7/22/20302024-12-310002006758Diversified Consumer Services Regis Corporation Regis Corporation First Lien Secured Debt - Term Loan S+450, 2.50% Floor Maturity Date 6/24/20292024-12-310002006758Transportation Infrastructure GAT GAT-Airline Ground Support Inc First Lien Secured Debt – Delayed Draw S+550, 1.00% Floor Maturity Date 5/9/20292025-03-310002006758Professional Services2024-12-310002006758Machinery2025-03-310002006758ck0002006758:FinancialServicesMember2025-03-310002006758WH BorrowerCo, LLC2025-03-310002006758ck0002006758:CommonEquityMemberck0002006758:BeveragesMember2025-03-310002006758Software AMI Buyer, Inc. AMI Buyer, Inc.2024-12-310002006758Capital Markets2024-12-310002006758Construction & Engineering American Restoration American Restoration Holdings, LLC 2025-03-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:ValuationTechniqueMarketComparableTechniqueMemberus-gaap:UnsecuredDebtMembersrt:MaximumMemberck0002006758:MeasurementInputComparableMultipleMember2024-12-310002006758Transportation Infrastructure2025-03-310002006758ck0002006758:WirelessTelecommunicationServicesMember2025-03-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:ValuationTechniqueMarketComparableTechniqueMemberck0002006758:FirstLienSecuredDebtMembersrt:MaximumMemberck0002006758:MeasurementInputComparableMultipleMember2025-03-310002006758ck0002006758:CommonEquityMemberck0002006758:TradingCompaniesAndDistributorsMember2025-03-310002006758DCM Parent, LLC2025-03-310002006758Software Uniguest Uniguest Holdings, Inc First Lien Secured Debt - Term Loan S+500, 1.00% Floor Maturity Date 11/27/20302024-12-310002006758Pharmaceuticals AHP Timberwolf Bidco Corp. AHP Timberwolf Bidco Corp.2024-12-310002006758Leisure Products Wellbeam Consumer Health Intermediate, LLC Wellbeam Consumer Health Intermediate, LLC First Lien Secured Debt - Delayed Draw S+625 Cash plus 2.00% PIK, 1.00% Floor Maturity Date 10/4/20272024-12-310002006758ck0002006758:CommunicationsEquipmentMember2024-12-310002006758Financial Services Gabriel Partners, LLC Gabriel Partners, LLC First Lien Secured Debt - Term Loan S+640, 1.00% Floor Maturity Date 9/21/20262024-12-310002006758us-gaap:UnsecuredDebtMember2024-01-012024-03-310002006758us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Memberck0002006758:FirstLienSecuredDebtMemberus-gaap:MeasurementInputDiscountRateMembersrt:MaximumMember2024-12-310002006758Pharmaceuticals PAI PAI Co-Investor FT Aggregator LLC Common Equity - Stock2025-03-310002006758country:US2024-12-310002006758Chemicals Lunar Buyer, LLC Lunar Buyer, LLC2024-12-310002006758Pharmaceuticals Trillium Health Care Products Trillium Health Care Products Inc. First Lien Secured Debt - Revolver S+525, 1.00% Floor Maturity Date 8/6/20312025-03-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:ValuationTechniqueMarketComparableTechniqueMemberck0002006758:FirstLienSecuredDebtMemberck0002006758:MeasurementInputComparableMultipleMember2025-03-310002006758Health Care Providers & Services Team Select TS Investors, LLC First Lien Secured Debt - Term Loan Interest Rate S+560, 1.00% Floor Maturity Date 5/4/20292025-03-310002006758ck0002006758:LifeSciencesToolsAndServicesMember2024-12-310002006758Containers & Packaging MSI Express, Inc. NCP-MSI Buyer First Lien Secured Debt – Term Loan S+ 475, 0.75% Floor Maturity Date 3/24/20312025-03-310002006758Wireless Telecommunication Services Kane Communications LLC Kane Communications LLC First Lien Secured Debt – Term Loan S+601, 1.00% Floor Maturity Date 8/9/20272025-03-310002006758Commercial Services & Supplies Jones JF Acquisition, LLC First Lien Secured Debt - Term Loan S+560, 1.00% Floor Maturity Date 7/31/20262024-12-310002006758Containers & Packaging Truvant NPPI Buyer, LLC First Lien Secured Debt - Term Loan S+500, 1.00% Floor Maturity Date 8/20/20292025-03-310002006758Construction & Engineering Traffic Management Solutions Traffic Management Solutions, LLC First Lien Secured Debt – Revolver S+500, 1.00% Floor Maturity Date 11/26/20302024-12-310002006758Pharmaceuticals Saffron Bidco Ltd Saffron Bidco Ltd First Lien Secured Debt - Term Loan S+575, 0.75% Floor Maturity Date 9/11/20312025-03-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:CommonEquityInterestsMember2025-03-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:FirstLienSecuredDebtMemberck0002006758:ValuationTechniqueYieldAnalysisMemberus-gaap:MeasurementInputDiscountRateMembersrt:MaximumMember2025-03-310002006758Financial Services PMA PMA Parent Holdings, LLC First Lien Secured Debt - Term Loan S+550, 0.75% Floor Maturity Date 1/31/20312024-12-310002006758Diversified Consumer Services Legacy.com Lotus Topco Inc.2024-12-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:FirstLienSecuredDebtMemberck0002006758:ValuationTechniqueYieldAnalysisMemberus-gaap:MeasurementInputDiscountRateMembersrt:MinimumMember2025-03-310002006758Machinery BW Colson Acquisition LLC BW Colson Acquisition LLC First Lien Secured Debt - Term Loan S+515, 1.00% Floor Maturity Date 2/26/20272024-12-310002006758Diversified Consumer Services Legacy.com Lotus Topco Inc. First Lien Secured Debt - Delayed Draw S+475, 1.00% Floor Maturity Date 6/7/20302024-12-310002006758IT Services2025-03-310002006758Hotels, Restaurants & Leisure American West Restaurant Group Holdings LLC American West Restaurant Group Holdings LLC First Lien Secured Debt - Term Loan Interest Rate 6.85% Maturity Date 2/2/20282025-03-310002006758Containers & Packaging 2025-03-310002006758ck0002006758:ChemicalsMember2024-12-310002006758Hotels, Restaurants & Leisure Cave Enterprises Operations, LLC Cave Enterprises Operations, LLC First Lien Secured Debt - Term Loan Loan S+660, 1.50% Floor Maturity Date 8/9/20282024-12-310002006758us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberck0002006758:CommonEquityInterestsMemberck0002006758:ValuationTechniqueMarketComparableTechniqueMemberck0002006758:MeasurementInputComparableMultipleMember2025-03-310002006758ck0002006758:ApolloCreditManagementLlcMember2024-01-012024-03-310002006758Health Care Technology MRO Parent Corporation MRO Parent Corporation First Lien Secured Debt - Term Loan S+485, 1.00% Floor Maturity Date 10/22/20272024-12-310002006758Ronnoco Holdings, Inc. Investment Type Common Equity - Stock2025-01-012025-03-310002006758us-gaap:FairValueInputsLevel3Member2025-03-310002006758Automobile Components AAMP Global Holdings, Inc. AAMP Global Holdings, Inc. First Lien Secured Debt - Term Loan S+585, 1.00% Floor Maturity Date 11/5/20252024-12-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:ValuationTechniqueMarketComparableTechniqueMemberus-gaap:UnsecuredDebtMemberck0002006758:MeasurementInputComparableMultipleMember2025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:AutomobileComponentsMember2025-03-310002006758Commercial Services & Supplies LAV GEAR HOLDINGS INC LAV Gear Holdings, inc First Lien Secured Debt - Term Loan Interest Rate 11.42% Maturity Date 10/31/20252025-03-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:CommonEquityInterestsMemberck0002006758:ValuationTechniqueMarketComparableTechniqueMemberck0002006758:MeasurementInputComparableMultipleMember2025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:WirelessTelecommunicationServicesMember2024-12-310002006758Commercial Services & Supplies Best Trash Bingo Group Buyer, Inc. First Lien Secured Debt - Term Loan S+500, 1.00% Floor Maturity Date 07/10/20312024-12-310002006758Chemicals Aspen Aerogels, Inc. Aspen Aerogels, Inc. First Lien Secured Debt - Term Loan S+450, 4.50% Floor Maturity Date 8/19/20292025-03-310002006758Pharmaceuticals TerSera Therapeutics, TerSera Therapeutics LLC, First Lien Secured Debt - Term Loan S+575, 1.00% Floor Maturity Date 4/4/20292024-12-310002006758Containers & Packaging Truvant NPPI Buyer, LLC First Lien Secured Debt - Revolver S+525, 1.00% Floor Maturity Date 8/20/20292024-12-310002006758Construction & Engineering Kauffman Intermediate, LLC Kauffman Intermediate, LLC First Lien Secured Debt - Term Loan S+660, 1.00% Floor Maturity Date 5/8/20252024-12-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:GroundTransportationMember2025-03-310002006758Food Products2025-03-310002006758Commercial Services & Supplies Vixxo Corporation Vixxo Corporation First Lien Secured Debt - Delayed Draw S+500, 1.00% Floor Maturity Date 8/1/20302024-12-310002006758Commercial Services & Supplies Vixxo Corporation Vixxo Corporation First Lien Secured Debt - Delayed Draw S+500, 1.00% Floor Maturity Date 8/1/20302025-03-310002006758IT Services VikingCloud Bullcave Limited First Lien Secured Debt - Revolver Interest Rate S+500, 0.75% Floor Maturity Date 8/6/20302025-03-310002006758Commercial Services & Supplies Vixxo Corporation Vixxo Corporation First Lien Secured Debt - Term Loan S+500, 1.00% Floor Maturity Date 8/1/20302025-03-310002006758ck0002006758:SterlingOvernightIndexAverageMember2025-03-310002006758ck0002006758:APLeafSecuredCreditFacilityMember2025-03-310002006758Leisure Products Wellbeam Consumer Health Intermediate, LLC Wellbeam Consumer Health Intermediate, LLC First Lien Secured Debt - Term Loan S+625 Cash plus 2.00% PIK, 1.00% Floor Maturity Date 10/4/20272024-12-310002006758Food Products Casper's Ice Cream, LLC Casper's Ice Cream, LLC Investment Type First Lien Secured Debt - Term Loan Interest Rate S+615, 1.00% Floor Maturity Date 12/29/20272025-03-310002006758Electrical Equipment2024-12-310002006758PHOENIX YW BUYER, INC.2025-03-310002006758Software Uniguest Uniguest Holdings, Inc 2025-03-310002006758Communications Equipment Congruex Congruex Group LLC First Lien Secured Debt - Term Loan S+165 Cash plus 5.00% PIK, 1.50% Floor Maturity Date 5/3/20292024-12-310002006758Software F&M Buyer LLC F&M Buyer LLC 2025-03-310002006758Lunar Buyer, LLC2025-03-310002006758Health Care Providers & Services TVG Shelby Buyer, Inc. TVG Shelby Buyer, Inc. First Lien Secured Debt - Term Loan S+500, 1.00% Floor Maturity Date 3/27/20282024-12-310002006758Air Freight & Logistics SEKO Global Logistics Network, LLC SEKO Global Logistics Network, LLC Common Equity - Equity Unit2024-12-310002006758Automobile Components Cool Buyer, Inc.2025-03-310002006758ck0002006758:APLeafSecuredCreditFacilityMember2024-12-310002006758Software CM Acquisitions Holdings Inc. (fka Sisterco CM Acquisitions Holdings Inc. First Lien Secured Debt – Term Loan S+350, Cash plus 2.50% PIK Maturity Date 5/6/20262025-03-310002006758Health Care Equipment & Supplies CSHC Buyerco, LLC CSHC Buyerco, LLC Investment Type First Lien Secured Debt - Term Loan Interest Rate S+485, 1.00% Floor Maturity Date 9/8/20262025-03-310002006758ck0002006758:FirstLienSecuredDebtMemberck0002006758:PaperAndForestProductsMember2025-03-310002006758us-gaap:InvestmentUnaffiliatedIssuerMember2024-12-310002006758srt:ScenarioForecastMemberck0002006758:ApolloCreditManagementLlcMember2025-03-152026-03-150002006758us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberck0002006758:ValuationTechniqueMarketComparableTechniqueMemberus-gaap:UnsecuredDebtMemberck0002006758:MeasurementInputComparableMultipleMember2024-12-310002006758ck0002006758:CapitalMarketsMember2024-12-310002006758Electronic Equipment, Instruments & Compone Li-Cor, Inc. Li-Cor, Inc. First Lien Secured Debt - Term Loan S+510, 1.00% Floor Maturity Date 12/1/20272024-12-310002006758Health Care Providers & Services Rarebreed Rarebreed Veterinary Partners, Inc. First Lien Secured Debt - Revolver Interest Rate S+525, 1.00% Floor Maturity Date 4/18/20302025-03-310002006758Air Freight & Logistics PrimeFlight Acquisition, LLC PrimeFlight Acquisition, LLC First Lien Secured Debt - Term Loan S+550, 1.00% Floor Maturity Date 5/1/20292025-03-310002006758Commercial Services & Supplies CRS Holdings, Inc. CRS Holdings, Inc. First Lien Secured Debt - Term Loan S+500, 1.00% Floor Maturity Date 6/6/20302024-12-310002006758Software AMI Buyer, Inc. AMI Buyer, Inc. First Lien Secured Debt - Revolver S+525, 0.75% Floor Maturity Date 10/17/20312024-12-310002006758Pharmaceuticals2025-03-310002006758ck0002006758:CommonEquityInterestsMember2025-03-310002006758Electronic Equipment, Instruments & Compone Li-Cor, Inc. Li-Cor, Inc. Investment Type First Lien Secured Debt - Term Loan Interest Rate S+485, 1.00% Floor Maturity Date 12/1/20272025-03-310002006758Software Uniguest Uniguest Holdings, Inc2024-12-310002006758us-gaap:FairValueInputsLevel3Memberck0002006758:ValuationTechniqueMarketComparableTechniqueMemberck0002006758:FirstLienSecuredDebtMembersrt:MinimumMemberck0002006758:MeasurementInputComparableMultipleMember2024-12-310002006758ck0002006758:UnfundedDelayedDrawLoanCommitmentsMember2024-12-310002006758Club Champion LLC2025-03-310002006758Financial Services Gabriel Partners, LLC Gabriel Partners, LLC Investment Type First Lien Secured Debt - Term Loan Interest Rate S+640, 1.00% Floor Maturity Date 9/21/20262025-03-310002006758Chemicals Aspen Aerogels, Inc. Aspen Aerogels, Inc. First Lien Secured Debt – Revolver S+460, 2.50% Floor Maturity Date 8/19/20292025-03-310002006758DRS Holdings III, Inc.2025-03-310002006758srt:EuropeMember2024-12-310002006758ck0002006758:HotelsRestaurantsLeisureMember2025-03-310002006758Commercial Services & Supplies Monarch Landscape Companies Monarch Landscape Holdings, LLC First Lien Secured Debt - Term Loan S+500, 0.75% Floor Maturity Date 10/2/20282024-12-310002006758Containers & Packaging MSI Express, Inc. NCP-MSI Buyer First Lien Secured Debt – Delayed Draw S+ 475, 0.75% Floor Maturity Date 3/24/20312025-03-310002006758ck0002006758:PharmaceuticalsMember2025-03-310002006758Automobile Components Cool Buyer, Inc. Cool Acquisition Holdings, LP Common Equity - Limited Partnership2025-03-310002006758Health Care Providers & Services2025-03-310002006758Health Care Providers & Services EyeSouth SCP Eye Care Services, LLC First Lien Secured Debt - Term Loan S+550, 1.00% Floor Maturity Date 10/7/20292024-12-310002006758us-gaap:DebtInstrumentRedemptionPeriodOneMemberck0002006758:TotalCommitmentsMember2024-01-012024-12-310002006758Chemicals Lunar Buyer, LLC Lunar Buyer, LLC First Lien Secured Debt - Delayed Draw S+550, 0.75% Floor Maturity Date 10/3/20302024-12-310002006758Omnimax International, LLC2024-12-310002006758ck0002006758:CommonEquityMember2024-12-310002006758Media Terrier Gamut Holdings, Inc. Terrier Gamut Holdings, Inc. First Lien Secured Debt - Term Loan S+660, 1.00% Floor Maturity Date 8/15/20282024-12-310002006758Diversified Consumer Services TCW Midco LLC TCW Midco LLC First Lien Secured Debt - Term Loan S+575, 1.00% Floor Maturity Date 10/22/20292025-03-310002006758Club Champion LLC2024-12-310002006758ck0002006758:MachineryMember2024-12-310002006758ck0002006758:MachineryMember2025-03-310002006758ck0002006758:GroundTransportationMember2025-03-310002006758IT Services VikingCloud Bullcave Limited First Lien Secured Debt - Term Loan S+500, 0.75% Floor Maturity Date 8/6/20302024-12-310002006758us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberck0002006758:ValuationTechniqueYieldAnalysisMemberck0002006758:FirstLienSecuredDebtMemberus-gaap:MeasurementInputDiscountRateMember2025-03-3100020067582025-03-310002006758Commercial Services & Supplies Mariani CI (MG) GROUP, LLC First Lien Secured Debt - Delayed Draw S+550, 1.00% Floor Maturity Date 3/27/20302025-03-310002006758us-gaap:StandbyLettersOfCreditMember2025-03-31iso4217:EURxbrli:pureiso4217:USDxbrli:sharesxbrli:sharesiso4217:CADiso4217:USD

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2025

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from_____ to_____

Commission File Number: 814-01710

MIDCAP APOLLO INSTITUTIONAL PRIVATE LENDING

(Exact name of Registrant as specified in its charter)


Delaware	93-4353274
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
9 West 57th Street New York, New York	10019
(Address of principal executive offices)	(Zip Code)

(212) 515-3450

(Registrant’s telephone number, including area code)


Title of each class	Trading symbol(s)	Name of each exchange on which registered
None	None	None

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 ¨

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 x No ¨

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer	¨	Accelerated filer	¨	Non-accelerated filer	x	Smaller reporting company	¨	Emerging growth company	x

(Do not check if a smaller reporting company)

If an emerging growth company indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No x

As of May 13, 2025, there was no established public market for the Registrant’s common shares of beneficial interest (“Common Shares”).

The number of shares of the Registrant’s Common Shares, $0.001 par value per share, outstanding as of May 13, 2025 was 15,969,674.

Table of Contents

MIDCAP APOLLO INSTITUTIONAL PRIVATE LENDING

Table of Contents


		Page
	PART I. FINANCIAL INFORMATION

Item 1.	Consolidated Financial Statements

	Consolidated Statements of Assets and Liabilities as of March 31, 2025 (Unaudited) and December 31, 2024	1

	Consolidated Statements of Operations for the three months ended March 31, 2025 (Unaudited)	2

	Consolidated Statements of Changes in Net Assets for the three months ended March 31, 2025 (Unaudited)	3

	Consolidated Statements of Cash Flows for the three months ended March 31, 2025 (Unaudited)	4

	Consolidated Schedule of Investments as of March 31, 2025 (Unaudited)	5

	Consolidated Schedule of Investments as of December 31, 2024	27

	Notes to Consolidated Financial Statements (Unaudited)	45

	Report of Independent Registered Public Accounting Firm	64

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	65

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	71

Item 4.	Controls and Procedures	72

	PART II. OTHER INFORMATION

Item 1.	Legal Proceedings	73

Item 1A.	Risk Factors	73

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	73

Item 3.	Defaults Upon Senior Securities	73

Item 4.	Mine Safety Disclosures	74

Item 5.	Other Information	74

Item 6.	Exhibits	75

	Signatures	76

Table of Contents

PART I. FINANCIAL INFORMATION

In this report, the terms the “Company,” “MAIPL,” “we,” “us,” and “our” refer to MidCap Apollo Institutional Private Lending unless the context specifically states otherwise.

Item 1. Consolidated Financial Statements


MIDCAP APOLLO INSTITUTIONAL PRIVATE LENDING
CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES
(In thousands, except share and per share data)


	March 31, 2025			December 31, 2024
	(Unaudited)
Assets
Investments at fair value:
Non-controlled/non-affiliated investments (cost $950,691 and $918,595, respectively)	$	936,915		$	909,845
Cash and cash equivalents		36,559			33,276
Foreign currencies (cost $799 and $711, respectively)		777			678
Receivable for investments sold		416			8,607
Interest receivable		5,807			5,399
Total assets	$	980,474		$	957,804

Liabilities
Debt (net of deferred financing costs and unamortized original issue discount of $8,375 and $5,150 at March 31, 2025 and December 31, 2024, respectively)	$	575,792		$	573,522
Payable for investments purchased		10			—
Management fees payable		87			—
Performance-based incentive fees payable		176			—
Distributions payable		11,968			13,169
Interest payable		2,938			3,256
Accrued administrative services expense payable		652			1,414
Other liabilities and accrued expenses		2,397			1,916
Total liabilities	$	594,020		$	593,277
Total Net Assets	$	386,454		$	364,527

Net Assets (Note 6)
Common shares, $0.001 par value (15,938,450 shares issued and outstanding as of March 31, 2025 and 14,922,603 shares issued and outstanding as of December 31, 2024)		16			15
Capital in excess of par value		400,364			375,365
Accumulated under-distributed (over-distributed) earnings		(13,926	)		(10,853	)
Net Assets	$	386,454		$	364,527

Net Asset Value Per Share	$	24.25		$	24.43

See notes to the consolidated financial statements.

Table of Contents


MIDCAP APOLLO INSTITUTIONAL PRIVATE LENDING
CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited)
(In thousands, except share and per share data)



	Three Months Ended March 31,
	2025			2024
Investment Income
Non-controlled/non-affiliated investments:
Interest income	$	24,596		$	23,923
Payment-in-kind interest income		434			220
Other income		128			108
Total Investment Income	$	25,158		$	24,251
Operating Expenses
Interest and other debt expenses	$	9,967		$	10,350
Service fees		—			553
Management fees		947			141
Performance-based incentive fees		1,655			426
Legal expenses		345			654
Administrative service expenses		119			83
Other general and administrative expenses		542			611
Total expenses		13,575			12,818
Management fees waived		(860	)		(141	)
Performance-based incentive fees waived		(1,479	)		(426	)
Net Expenses	$	11,236		$	12,251
Net Investment Income	$	13,922		$	12,000
Net Realized and Change in Unrealized Gains (Losses)
Net realized gains (losses):
Non-controlled/non-affiliated investments	$	(13	)	$	—
Foreign currency transactions		(7	)		—
Net realized gains (losses)	$	(20	)	$	—
Net change in unrealized gains (losses):
Non-controlled/non-affiliated investments		(5,026	)		688
Foreign currency transactions		12			—
Foreign currency translations		7			—
Net unrealized gains (losses)		(5,007	)		688
Net Realized and Change in Unrealized Gains (Losses)	$	(5,027	)	$	688
Net Increase (Decrease) in Net Assets Resulting from Operations	$	8,895		$	12,688

See notes to the consolidated financial statements.

Table of Contents


MIDCAP APOLLO INSTITUTIONAL PRIVATE LENDING
CONSOLIDATED STATEMENT OF CHANGES IN NET ASSETS (Unaudited)
(In thousands, except share and per share data)



	Three Months Ended March 31,
	2025			2024
Operations
Net investment income	$	13,922		$	12,000
Net realized gains (losses)		(20	)		—
Net change in unrealized gains (losses)		(5,007	)		688
Net Increase (Decrease) in Net Assets Resulting from Operations	$	8,895		$	12,688

Distributions to Shareholders
Distribution of net investment income	$	(11,968	)	$	—
Distribution of return of capital		—			—
Net Decrease in Net Assets Resulting from Distributions to Shareholders	$	(11,968	)	$	—

Capital Share Transactions
Net proceeds from the issuance of common shares (Note 6)	$	25,000		$	—
Distributions reinvested		—			—
Net Increase (Decrease) in Net Assets Resulting from Capital Share Transactions	$	25,000		$	—

Net Assets
Net increase (decrease) in net assets during the period	$	21,927		$	12,688
Net assets at beginning of period		364,527			294,450
Net Assets at End of Period	$	386,454		$	307,138

Capital Share Activity
Shares issued during the period (Note 6)		1,015,847			12,145,597
Distributions reinvested		—			—
Shares issued and outstanding at beginning of period		14,922,603			—
Shares Issued and Outstanding at End of Period		15,938,450			12,145,597

See notes to the consolidated financial statements.

Table of Contents


MIDCAP APOLLO INSTITUTIONAL PRIVATE LENDING
CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited)
(In thousands, except share and per share data)


	Three Months Ended March 31,
	2025			2024
Operating Activities
Net increase (decrease) in net assets resulting from operations	$	8,895		$	12,688
Net realized (gain) loss on investments		20			—
Net change in unrealized (gains) losses on investments		5,007			(688	)
Payment-in-kind interest capitalized		(557	)		(217	)
Net accretion of discount and amortization of premium		(954	)		(970	)
Amortization of deferred financing costs		66			268
Purchases of investments		(84,364	)		(7,740	)
Proceeds from sale of investments and principal repayments		53,789			36,159
Changes in operating assets and liabilities:
Decrease (increase) in interest receivable		(408	)		(7,142	)
Decrease (increase) in receivable for investments sold		8,191			—
Decrease (increase) in other assets		—			—
Increase (decrease) in management fees payable		87			—
Increase (decrease) in performance-based incentive fees payable		176			—
Increase (decrease) in distributions payable		—			—
Increase (decrease) in interest payable		(318	)		2,286
Increase (decrease) in service fees payable		—			552
Increase (decrease) in accrued administrative services expense payable		(762	)		887
Increase (decrease) in other liabilities and accrued expenses		481			225
Net Cash Used in/Provided by Operating Activities	$	(10,651	)	$	36,308

Financing Activities
Issuances of debt	$	68,500		$	—
Payments of debt		(63,000	)		—
Financing costs paid and deferred		(3,290	)		—
Proceeds from issuance of common shares		25,000			—
Distributions paid		(13,169	)		—
Net Cash Used in/Provided by Financing Activities	$	14,041		$	—

Cash, Cash Equivalents and Foreign Currencies
Net increase (decrease) in cash and cash equivalents during the period	$	3,390		$	36,308
Effect of foreign exchange rate changes on cash and cash equivalents		(8	)		—
Cash and cash equivalents at beginning of period		33,954			3,176
Cash, Cash Equivalents and Foreign Currencies at the End of Period	$	37,336		$	39,484

Supplemental Disclosure and Non-Cash Information
Cash interest paid	$	10,219		$	7,796
Reinvestment of distributions during the period	$	—		$	—
PIK income	$	434		$	220

See notes to the consolidated financial statements.

Table of Contents

MIDCAP APOLLO INSTITUTIONAL PRIVATE LENDING

CONSOLIDATED SCHEDULE OF INVESTMENTS

March 31, 2025 (Unaudited)

(In thousands, except share data)


Industry/Company	Investment Type	Interest Rate (8)	Maturity Date		Par/Shares (3)		Cost (22)			Fair Value (1)(23)
Aerospace & Defense
Jonathan Acquisition Company
Jonathan Acquisition Company	First Lien Secured Debt - Term Loan	S+510, 1.00% Floor	12/22/2026	$		7,877	$	7,814		$	7,781		(17)
Sperry Acquisition, LLC
Sperry Acquisition, LLC	First Lien Secured Debt - Term Loan	S+525, 0.75% Floor	2/3/2031			4,800		4,730			4,725		(9)(17)
	First Lien Secured Debt - Delayed Draw	S+525, 0.75% Floor	2/3/2031			—		(1	)		(1	)	(9)(12)(14)
	First Lien Secured Debt - Revolver	S+525, 0.75% Floor	2/3/2031			—		(1	)		(1	)	(9)(12)(14)
								4,728			4,723
Sperry Parent Holdings, L.P.
Sperry Parent Holdings, L.P.	Common Equity - Stock	N/A	N/A		494 Shares			49			49		(6)(9)(15)
		Total Aerospace & Defense					$	12,591		$	12,553
Air Freight & Logistics
PrimeFlight Acquisition, LLC
PrimeFlight Acquisition, LLC	First Lien Secured Debt - Term Loan	S+550, 1.00% Floor	5/1/2029	$		7,880	$	7,687		$	7,880		(17)
SEKO Global Logistics Network, LLC
SEKO Global Logistics Network, LLC	First Lien Secured Debt - Term Loan	S+500, 1.00% Floor	5/27/2030			1,830		1,829			1,830		(17)
	Common Equity - Equity Unit	N/A	N/A		876 Shares			2,737			3,456		(6)(15)
								4,566			5,286
		Total Air Freight & Logistics					$	12,253		$	13,166
Automobile Components
AAMP Global Holdings, Inc.
AAMP Global Holdings, Inc.	First Lien Secured Debt - Term Loan	S+535, 1.00% Floor	11/5/2025	$		7,875	$	7,845		$	7,866		(17)
Cool Buyer, Inc.
Cool Acquisition Holdings, LP	Common Equity - Limited Partnership	N/A	N/A		34,483 Shares			34			36		(6)(9)(15)
Cool Buyer, Inc.	First Lien Secured Debt - Term Loan	S+475, 1.00% Floor	10/31/2030			4,788		4,720			4,720		(9)(17)
	First Lien Secured Debt - Delayed Draw	S+475, 1.00% Floor	10/31/2030			—		(1	)		(1	)	(9)(12)(13) (14)
	First Lien Secured Debt - Revolver	S+475, 1.00% Floor	10/31/2030			25		24			24		(9)(13)(14) (17)
								4,777			4,779
		Total Automobile Components					$	12,622		$	12,645

See notes to the consolidated financial statements.

Table of Contents

MIDCAP APOLLO INSTITUTIONAL PRIVATE LENDING

CONSOLIDATED SCHEDULE OF INVESTMENTS

March 31, 2025 (Unaudited)

(In thousands, except share data)


Industry/Company	Investment Type	Interest Rate (8)	Maturity Date		Par/Shares (3)		Cost (22)			Fair Value (1)(23)
Beverages
Ronnoco Holdings, Inc.
Ronnoco Holdings, Inc.	First Lien Secured Debt - Term Loan	S+450, 1.00% Floor	3/17/2031	$		3,552	$	3,499		$	3,499		(9)(17)
	First Lien Secured Debt - Revolver	S+450, 1.00% Floor	3/17/2031			—		(22	)		(22	)	(9)(12)(13) (14)
	Common Equity - Stock	N/A	N/A		500 Shares			50			50		(6)(9)(15)
		Total Beverages					$	3,527		$	3,527
Building Products
Omnimax
Omnimax International, LLC	First Lien Secured Debt - Term Loan	S+575, 1.00% Floor	12/6/2030	$		7,400	$	7,258		$	7,258		(9)(17)
	First Lien Secured Debt - Delayed Draw	S+575, 1.00% Floor	12/6/2030			100		98			98		(9)(17)
		Total Building Products					$	7,356		$	7,356
Capital Markets
Stout
Stout Intermediate II, LLC	First Lien Secured Debt - Term Loan	S+510, 1.00% Floor	11/22/2027	$		7,878	$	7,780		$	7,861		(16)
		Total Capital Markets					$	7,780		$	7,861
Chemicals
Aspen Aerogels, Inc.
Aspen Aerogels, Inc.	First Lien Secured Debt - Term Loan	S+450, 4.50% Floor	8/19/2029	$		8,870	$	8,711		$	8,779		(9)(11)(16)
	First Lien Secured Debt - Revolver	S+460, 2.50% Floor	8/19/2029			37		37			37		(9)(11)(13) (14)(16)
								8,748			8,816
Lunar Buyer, LLC
Lunar Buyer, LLC	First Lien Secured Debt - Term Loan	S+550, 0.75% Floor	10/3/2030			4,788		4,698			4,692		(9)(17)
	First Lien Secured Debt - Delayed Draw	S+550, 0.75% Floor	10/3/2030			—		(1	)		(2	)	(9)(12)(13) (14)
	First Lien Secured Debt - Revolver	S+550, 0.75% Floor	10/3/2030			36		34			34		(9)(13)(14) (17)
								4,731			4,724
Universal Fiber Systems LLC
Universal Fiber Systems LLC	First Lien Secured Debt - Term Loan	S+511, 1.00% Floor	9/30/2028			5,727		5,689			5,548		(17)
		Total Chemicals					$	19,168		$	19,088
Commercial Services & Supplies
Applied Technical Services, LLC
Applied Technical Services, LLC	First Lien Secured Debt - Term Loan	S+590, 1.00% Floor	12/29/2026	$		7,877	$	7,786		$	7,768		(17)

See notes to the consolidated financial statements.

Table of Contents

MIDCAP APOLLO INSTITUTIONAL PRIVATE LENDING

CONSOLIDATED SCHEDULE OF INVESTMENTS

March 31, 2025 (Unaudited)

(In thousands, except share data)


Industry/Company	Investment Type	Interest Rate (8)	Maturity Date	Par/Shares (3)		Cost (22)			Fair Value (1)(23)
Best Trash
Bingo Group Buyer, Inc.	First Lien Secured Debt - Term Loan	S+500, 1.00% Floor	7/10/2031		8,756		8,655			8,690		(9)(17)
	First Lien Secured Debt - Delayed Draw	S+500, 1.00% Floor	7/10/2031		—		(1	)		(1	)	(9)(12)(13) (14)
	First Lien Secured Debt - Revolver	S+500, 1.00% Floor	7/10/2031		3		2			2		(9)(13)(14) (17)
							8,656			8,691
Climate Pros
Climate Pros, LLC	First Lien Secured Debt - Term Loan	S+585, 1.00% Floor	1/24/2026		7,869		7,838			7,837		(17)
CRS Holdings, Inc.
CRS Holdings, Inc.	First Lien Secured Debt - Term Loan	S+500, 1.00% Floor	6/6/2030		1,817		1,785			1,795		(9)(17)
	First Lien Secured Debt - Delayed Draw	S+500, 1.00% Floor	6/6/2030		—		—			(1	)	(9)(12)(13) (14)
	First Lien Secured Debt - Revolver	S+500, 1.00% Floor	6/6/2030		—		(1	)		(1	)	(9)(12)(13) (14)
							1,784			1,793
GS SEER Group Borrower LLC
GS SEER Group Borrower LLC	First Lien Secured Debt - Term Loan	S+675, 1.00% Floor	4/29/2030		7,880		7,695			7,801		(17)
Jones
JF Acquisition, LLC	First Lien Secured Debt - Term Loan	S+560, 1.00% Floor	7/31/2026		7,876		7,876			7,867		(17)
LAV GEAR HOLDINGS INC
LAV Gear Holdings, inc	First Lien Secured Debt - Term Loan	11.42%	10/31/2025		9,114		8,892			7,402		(5)(17)
Mariani
CI (MG) GROUP, LLC	First Lien Secured Debt - Term Loan	S+550, 1.00% Floor	3/27/2030		4,743		4,672			4,672		(9)(17)
	First Lien Secured Debt - Delayed Draw	S+550, 1.00% Floor	3/27/2030		—		(17	)		(17	)	(9)(12)(13) (14)
	First Lien Secured Debt - Revolver	S+550, 1.00% Floor	3/27/2030		—		(8	)

MidCap Apollo Institutional Private Lending 10-Q