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Investment First-lien loan ($45,106 par, due 8/2025) Initial Acquisition Date 10/25/2019 Reference Rate and Spread SOFR + 9.15% Interest Rate 13.48%2024-12-310001508655us-gaap:InvestmentAffiliatedIssuerControlledMember2024-01-012024-09-300001508655Debt Investments Education EMS Linq, Inc. Investment First-lien loan ($4,216 par, due 12/2027) Initial Acquisition Date 12/22/2021 Reference Rate and Spread SOFR + 6.35% Interest Rate 10.81%2024-01-012024-12-310001508655tslx:DelayedDrawMembertslx:ScorpioBidcoMember2024-12-310001508655tslx:InterestRateSwapFiveMember2024-07-012024-09-300001508655tslx:InvestmentAdvisoryAgreementMembertslx:FutureRealizedCapitalGainsPriorToAprilFirstTwoThousandFourteenMember2020-03-312020-03-310001508655tslx:PharmaceuticalsMember2024-12-310001508655tslx:BusinessServicesMember2025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:ApteanIncMember2025-09-300001508655us-gaap:AdditionalPaidInCapitalMember2024-06-300001508655country:NO2024-12-310001508655us-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:MeasurementInputComparabilityAdjustmentMembersrt:MinimumMembertslx:EquityAndOtherInvestmentsMember2025-09-300001508655Other Investments Whitebox CLO Ltd, Series 2023 -4A Structured Credit ($1,500 par, due 4/2036) Initial Acquisition Date 8/20/2025 Reference Rate and Spread SOFR + 6.48% Interest Rate 10.81%2025-01-012025-09-300001508655us-gaap:HealthcareSectorMember2024-12-310001508655Debt Investments Human Resource Support Services Employment Hero Holdings Pty Ltd. First-lien loan (AUD 60,000 par, due 12/2026) Initial Acquisition Date 12/6/2021 Reference Rate and Spread B + 6.25% Interest Rate 10.73%2024-01-012024-12-310001508655Debt Investments Financial Services Fullsteam Operations, LLC Investment First-lien loan ($40,048 par, due 11/2029) Initial Acquisition Date 11/27/2023 Reference Rate and Spread SOFR + 8.38% Interest Rate 12.89%2024-01-012024-12-3100015086552025-06-300001508655us-gaap:FairValueInputsLevel3Membertslx:SecondLienDebtInvestmentsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMember2025-09-300001508655Debt Investments Communications X Holdings Inc. Investment First-lien loan ($9,362 par, due 10/2029) Initial Acquisition Date 2/5/2025 Reference Rate and Spread SOFR + 6.65% Interest Rate 10.96%2025-09-300001508655Equity and Other Investments Human Resource Support Services bswift, LLC Class A-1 Units (2,393,509 units) Initial Acquisition Date 11/7/20222025-09-300001508655Debt Investments Chemicals Erling Lux Bidco SARL Investment First-lien loan (GBP 19,592 par, due 9/2028) Initial Acquisition Date 9/6/2022 Reference Rate and Spread S + 7.00% Interest Rate 10.97%2025-01-012025-09-300001508655tslx:FirstLienDebtInvestmentsMember2024-12-310001508655Other Investments RR Ltd, Series 2021 -19A Structured Credit ($1,000 par, due 4/2040) Initial Acquisition Date 7/17/2025 Reference Rate and Spread SOFR + 4.70% Interest Rate 9.02%2025-01-012025-09-300001508655tslx:InvestmentAdvisoryAgreementMembertslx:RealizedCapitalGainsAccruedBeginningAprilFirstTwoThousandFourteenMember2011-04-152011-04-150001508655Debt Investments Business Services Price Fx Inc. Investment First-lien loan (EUR 910 par, due 10/2029) Initial Acquisition Date 10/27/2023 Reference Rate and Spread E + 7.00% Interest Rate 8.97%2025-09-300001508655tslx:ExtraHopNetworksIncMembertslx:DelayedDrawAndRevolverMember2024-12-310001508655Debt Investments Business Services Azurite Intermediate Holdings, Inc. Investment First-lien loan ($42,750 par, due 3/2031) Initial Acquisition Date 3/19/2024 Reference Rate and Spread SOFR + 6.00% Interest Rate 10.16%2025-01-012025-09-300001508655Debt Investments Communications Aurelia Netherlands MidCo 2 B.V. Investment First-lien loan (EUR 32,904 par, due 5/2031) Initial Acquisition Date 05/22/2024 Reference Rate and Spread E + 5.75% Interest Rate 8.93%2024-12-310001508655tslx:InvestmentAdvisoryAgreementMembertslx:LeverageWaiverMember2025-07-012025-09-300001508655tslx:EDBParentLLCMembertslx:DelayedDrawMember2025-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:MezzanineDebtInvestmentsMember2024-12-310001508655Debt Investments Manufacturing Varinem German BidCo GMBH First-lien loan (EUR 12,696 par, due 7/2031) Initial Acquisition Date 7/11/2024 Reference Rate and Spread E + 5.75% Interest Rate 9.42%2024-12-310001508655Equity and Other Investments Financial Services TradingScreen, Inc. Class A Units (600,000 units) Initial Acquisition Date 5/14/20212024-12-310001508655Equity and Other Investments Financial Services TradingScreen, Inc. Class A Units (600,000 units) Initial Acquisition Date 5/14/20212024-01-012024-12-310001508655Debt Investments Communications Banyan Software Holdings, LLC Investment First-lien loan ($16,045 par, due 10/2026) Initial Acquisition Date 01/26/2024 Reference Rate and Spread SOFR + 6.25% Interest Rate 10.61%2024-01-012024-12-310001508655tslx:CommunicationsMembertslx:EquityAndOtherInvestmentsMember2025-09-300001508655Equity and Other Investments Business Services ReliaQuest, LLC Class A-3 Units (16,957 units) Initial Acquisition Date 11/10/20232024-01-012024-12-310001508655Equity and Other Investments Financial Services CLGF Holdings, L.P. Warrants (334,682 warrants) Initial Acquisition Date 11/7/20232024-12-310001508655tslx:MezzanineDebtInvestmentsMember2024-07-012024-09-300001508655Debt Investments Hotel, Gaming and Leisure AVSC Holding Corp. Investment First-lien loan ($44,941 par, due 12/2031) Initial Acquisition Date 12/5/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.16%2025-09-300001508655Equity and Other Investments Internet Services Bayshore Intermediate #2, L.P. Co-Invest 2 Common Units (3,493,701 units) Initial Acquisition Date 10/1/20212024-12-310001508655tslx:SecondLienDebtInvestmentsMember2024-09-300001508655Debt Investments Business Services Galileo Parent, Inc. Investment First-lien loan ($63,606 par, due 5/2030) Initial Acquisition Date 5/3/2023 Reference Rate and Spread SOFR + 5.75% Interest Rate 9.75%2025-01-012025-09-300001508655tslx:NortheastMember2024-12-310001508655us-gaap:FairValueInputsLevel3Membertslx:FirstLienDebtInvestmentsMember2025-09-300001508655Equity and Other Investments Internet Services Piano Software, Inc. Series C-1 Preferred Shares (418,527 shares) Initial Acquisition Date 12/22/20212025-01-012025-09-300001508655us-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:MeasurementInputComparabilityAdjustmentMembertslx:EquityAndOtherInvestmentsMembersrt:MaximumMember2025-09-300001508655tslx:SouthMember2025-09-300001508655Equity and Other Investments Structured Credit Dryden Senior Loan Fund, Series 2020-86A Structured Credit ($1,500 par, due 7/2034) Initial Acquisition Date 8/17/2022 Reference Rate and Spread SOFR + 6.76% Interest Rate 11.41%2024-12-310001508655Debt Investments Healthcare Ingenovis Health Finance, LLC Investment First-lien revolving loan ($32,500 par, due 5/2030) Initial Acquisition Date 5/13/2025 Reference Rate and Spread SOFR + 6.00% Interest Rate 10.20%2025-01-012025-09-300001508655Debt Investments Hotel, Gaming and Leisure IRGSE Holding Corp. Investment First-lien loan ($30,261 par, due 6/2026) Initial Acquisition Date 12/21/2018 Reference Rate and Spread SOFR + 9.65% Interest Rate 13.65%2025-09-300001508655tslx:PharmaceuticalsMember2025-09-300001508655Debt Investments Other Scorpio Bidco First-lien loan (EUR 2,511 par, due 4/2031) Initial Acquisition Date 4/4/2024 Reference Rate and Spread E + 5.75% Interest Rate 7.75%2025-09-300001508655Debt Investments Business Services Crewline Buyer, Inc. Investment First-lien loan ($58,384 par, due 11/2030) Initial Acquisition Date 11/8/2023 Reference Rate and Spread SOFR + 6.75% Interest Rate 10.91%2025-09-300001508655Debt Investments Human Resource Support Services Axonify, Inc. Investment First-lien loan ($45,113 par, due 5/2027) Initial Acquisition Date 5/5/2021 Reference Rate and Spread SOFR + 7.15% Interest Rate 11.47%2025-01-012025-09-300001508655Debt Investments Internet Services Kryptona BidCo US, LLC First-lien loan ($19,912 par, due 12/2031) Initial Acquisition Date 12/18/2024 Reference Rate and Spread SOFR + 5.75% Interest Rate 10.10%2024-12-310001508655Debt Investments Business Services Wrangler TopCo, LLC Investment First-lien loan ($5,484 par, due 9/2029) Initial Acquisition Date 07/07/2023 Reference Rate and Spread SOFR + 6.00% Interest Rate 10.38%2024-12-310001508655Equity and Other Investments Retail and Consumer Products Copper Bidco, LLC Trust Certificates (996,958 Certificates) Initial Acquisition Date 1/30/20212025-09-300001508655tslx:InvestmentAdvisoryAgreementMember2024-01-012024-09-300001508655Debt Investments Education Kangaroo Bidco AS Investment First-lien loan ($30,625 par, due 11/2030) Initial Acquisition Date 11/02/2023 Reference Rate and Spread SOFR + 6.25% Interest Rate 10.66%2024-01-012024-12-310001508655Debt Investments Internet Services SMA Technologies Holdings, LLC First-lien loan ($53,991 par, due 10/2028) Initial Acquisition Date 10/31/2022 Reference Rate and Spread SOFR + 6.50% Interest Rate 11.01%2024-01-012024-12-310001508655tslx:DelayedDrawMembertslx:SkylarkUkDebtcoLimitedMember2025-09-300001508655Equity and Other Investments Business Services Newark FP Co-Invest, L.P. Partnership (2,527,719 units) Initial Acquisition Date 11/8/20232024-01-012024-12-310001508655Other Investments Pikes Peak CLO Ltd, Series 2023 -14A Structured Credit ($3,000 par, due 7/2038) Initial Acquisition Date 7/30/2025 Reference Rate and Spread SOFR + 6.00% Interest Rate 10.33%2025-09-300001508655Debt Investments Business Services Lynx BidCo Investment First-lien loan (EUR 23,603 par, due 7/2031) Initial Acquisition Date 7/5/2024 Reference Rate and Spread E + 6.50% Interest Rate 8.50%2025-01-012025-09-300001508655Debt Investments Human Resource Support Services Madcap Software, Inc. Investment First-lien loan ($31,931 par, due 12/2026) Initial Acquisition Date 12/15/2023 Reference Rate and Spread SOFR + 6.10% Interest Rate 10.10%2025-09-300001508655Equity and Other Investments Financial Services AF Eagle Parent, L.P. Partnership Units (121,329 units) Initial Acquisition Date 11/27/20232025-01-012025-09-300001508655tslx:RevolvingCreditFacilityMaturityOnApril242029Member2024-04-242024-04-240001508655tslx:O2025Q1BaseDividendsMember2025-02-132025-02-130001508655us-gaap:RevolvingCreditFacilityMembersrt:MaximumMember2025-01-012025-09-300001508655Equity and Other Investments Internet Services Bayshore Intermediate #2, L.P. Co-Invest 2 Common Units (3,493,701 units) Initial Acquisition Date 10/1/20212025-01-012025-09-300001508655Debt Investments Healthcare BCTO Ace Purchaser, Inc. Investment First-lien loan ($69,995 par, due 11/2029) Initial Acquisition Date 11/23/2020 Reference Rate and Spread SOFR + 6.50% Interest Rate 10.70%2025-01-012025-09-300001508655tslx:EquityAndOtherInvestmentsMember2025-07-012025-09-300001508655us-gaap:RealEstateSectorMember2024-12-310001508655us-gaap:FairValueInputsLevel2Membertslx:FirstLienDebtInvestmentsMember2024-12-310001508655Debt Investments Healthcare Velocity Clinical Research, Inc. Investment First-lien revolving loan ($528 par, due 9/2031) Initial Acquisition Date 9/9/2025 Reference Rate and Spread SOFR + 7.50% Interest Rate 11.50%2025-01-012025-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:EquityAndOtherInvestmentsMembertslx:AssetValuationWaterfallMember2025-09-300001508655Equity and Other Investments Internet Services Piano Software, Inc. Series C-2 Preferred Shares (27,588 shares) Initial Acquisition Date 11/18/20222025-01-012025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:BtrsHoldingIncMember2025-09-300001508655us-gaap:RevolvingCreditFacilityMember2024-04-240001508655tslx:TwoThousandTwentySixNotesMember2025-09-300001508655Equity and Other Investments Pharmaceuticals Elysium BidCo Limited Convertible Preference Shares (4,976,563 Shares) Initial Acquisition Date 12/11/20242024-12-310001508655Debt Investments Chemicals Erling Lux Bidco SARL Investment First-lien loan (NOK 7,427 par, due 9/2028) Initial Acquisition Date 9/6/2022 Reference Rate and Spread N + 7.00% Interest Rate 11.33%2025-01-012025-09-300001508655tslx:SapphireSoftwareBuyerIncMembertslx:RevolverMember2025-09-300001508655Equity and Other Investments Internet Services Bayshore Intermediate #2, L.P. Co-Invest Common Units (8,837,008 units) Initial Acquisition Date 10/1/20212024-01-012024-12-310001508655us-gaap:InvestmentUnaffiliatedIssuerMember2025-01-012025-09-300001508655country:FIsrt:MaximumMember2025-09-300001508655us-gaap:TreasuryStockCommonMember2024-09-300001508655tslx:InterestRateSwapFourMember2025-07-012025-09-300001508655Debt Investments Other Sky Bidco S.p.A. First-lien note (EUR 6,368 par, due 10/2031) Initial Acquisition Date 10/29/2024 Reference Rate and Spread E + 5.00% Interest Rate 7.00%2025-09-300001508655Debt Investments Human Resource Support Services Elysian Finco Ltd. First-lien loan ($21,899 par, due 1/2028) Initial Acquisition Date 1/31/2021 Reference Rate and Spread SOFR + 6.65% Interest Rate 11.28%2024-01-012024-12-310001508655Equity and Other Investments Business Services ReliaQuest, LLC Series A Preferred Stock (1,667 Units) Initial Acquisition Date 12/20/2023 Reference Rate and Spread SOFR+12.00% Interest Rate 16.60% PIK2024-12-310001508655Other Investments Palmer Square CLO Ltd, Series 2021 -4 Structured Credit ($4,000 par, due 7/2038) Initial Acquisition Date 9/16/2025 Reference Rate and Spread SOFR + 5.75% Interest Rate 10.02%2025-09-300001508655Debt Investments Retail and Consumer Products American Achievement, Corp. First-lien loan ($26,716 par, due 9/2026) Initial Acquisition Date 9/30/2015 Reference Rate and Spread SOFR + 7.35% Interest Rate 11.63% (incl. 11.13% PIK)2025-09-300001508655tslx:EquityAndOtherInvestmentsMember2024-01-012024-09-300001508655Debt Investments Education Kangaroo Bidco AS Investment First-lien loan ($30,625 par, due 11/2030) Initial Acquisition Date 11/02/2023 Reference Rate and Spread SOFR + 6.25% Interest Rate 10.66%2024-12-310001508655us-gaap:AdditionalPaidInCapitalMember2024-07-012024-09-300001508655tslx:InterestRateSwapFourMember2025-09-300001508655tslx:AvalaraIncMembertslx:RevolverMember2025-09-300001508655Debt Investments Retail and Consumer Products American Achievement, Corp. First-lien loan ($26,864 par, due 9/2026) Initial Acquisition Date 9/30/2015 Reference Rate and Spread SOFR + 7.35% Interest Rate 11.90% (incl. 11.40% PIK)2024-01-012024-12-310001508655Debt Investments Transportation Marcura Equities LTD First-lien revolving loan ($41,074 par, due 8/2029) Initial Acquisition Date 8/11/2023 Reference Rate and Spread SOFR + 8.25% Interest Rate 12.25% (incl. 4.25% PIK)2025-09-300001508655us-gaap:InterestRateSwapMembertslx:TwoThousandTwentySixNotesMember2025-01-012025-09-300001508655tslx:RevolverMembertslx:ElysiumBidCoLimitedMember2024-12-310001508655us-gaap:InterestRateSwapMember2025-09-300001508655tslx:RevolverMembertslx:ElysiumBidCoLimitedMember2025-09-300001508655tslx:O2025Q2SupplementalDividendsMember2025-04-300001508655Debt Investments Hotel, Gaming and Leisure Equinox Holdings, Inc. First-lien loan ($49,590 par, due 3/2029) Initial Acquisition Date 3/8/2024 Reference Rate and Spread SOFR + 8.25% Interest Rate 12.58% (incl. 4.13% PIK)2024-12-310001508655tslx:AmericanAchievementCorpMembertslx:RevolverMember2025-09-300001508655Debt Investments Internet Services EDB Parent, LLC Investment First-lien loan ($74,771 par, due 7/2028) Initial Acquisition Date 7/7/2022 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.31%2025-09-300001508655Equity and Other Investments Pharmaceuticals TherapeuticsMD, Inc. Warrants (14,256 warrants) Initial Acquisition Date 8/5/20202025-01-012025-09-300001508655Debt Investments Financial Services TradingScreen, Inc. Investment First-lien loan ($55,528 par, due 4/2027) Initial Acquisition Date 04/30/2021 Reference Rate and Spread SOFR + 6.35% Interest Rate 10.93%2024-01-012024-12-310001508655tslx:EquityAndOtherInvestmentsMember2024-09-300001508655Debt Investments Human Resource Support Services Hire Vue, Inc. First-lien revolving loan ($4,378 par, due 5/2029) Initial Acquisition Date 5/3/2023 Reference Rate and Spread SOFR + 6.75% Interest Rate 11.30%2024-12-310001508655tslx:InterestRateSwapTwoMember2024-01-012024-09-300001508655us-gaap:InterestRateSwapMembertslx:TwoThousandAndThirtyNotesMember2025-01-012025-09-300001508655Equity and Other Investments Financial Services TradingScreen, Inc. Class A Units (600,000 units) Initial Acquisition Date 5/14/20212025-01-012025-09-300001508655Equity and Other Investments Oil, Gas and Consumable Fuels TRP Assets, LLC Partnership Interest (1.89% ownership) Initial Acquisition Date 8/25/20222025-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:AssetValuationWaterfallMembertslx:MezzanineDebtInvestmentsMember2025-09-300001508655us-gaap:InvestmentAffiliatedIssuerControlledMember2024-01-012024-12-310001508655tslx:FirstLienDebtInvestmentsMember2025-01-012025-09-300001508655tslx:StructuredCreditInvestmentsMember2025-09-300001508655us-gaap:InvestmentAffiliatedIssuerControlledMember2025-09-300001508655Equity and Other Investments Communications IntelePeer Holdings, Inc. Series D Warrants (106,592 warrants) Initial Acquisition Date 4/8/20212024-01-012024-12-310001508655Debt Investments Retail and Consumer Products Neuintel, LLC First-lien loan ($55,038 par, due 12/2026) Initial Acquisition Date 12/20/2021 Reference Rate and Spread SOFR + 6.85% Interest Rate 11.21%2024-01-012024-12-310001508655tslx:DelayedDrawMembertslx:ArrowheadPharmaceuticalsIncMember2024-12-310001508655us-gaap:DebtSecuritiesMember2024-12-310001508655us-gaap:FairValueInputsLevel3Membertslx:FirstLienDebtInvestmentsMember2024-07-012024-09-300001508655tslx:SapphireSoftwareBuyerIncMembertslx:RevolverMember2024-12-310001508655Equity and Other Investments Education EMS Linq, Inc. Class B Units (5,522,526 units) Initial Acquisition Date 12/22/20212024-01-012024-12-310001508655Debt Investments Business Services Artisan Bidco, Inc. Investment First-lien loan (EUR 17,558 par, due 11/2029) Initial Acquisition Date 11/07/2023 Reference Rate and Spread E + 7.00% Interest Rate 10.05%2024-12-310001508655us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:MeasurementInputComparabilityAdjustmentMembertslx:EquityAndOtherInvestmentsMember2024-12-310001508655Other Investments Lake George Park CLO Ltd, Series 2025 -1A Structured Credit ($4,500 par, due 4/2038) Initial Acquisition Date 8/27/2025 Reference Rate and Spread SOFR + 4.60% Interest Rate 8.89%2025-09-300001508655Equity and Other Investments Human Resource Support Services Employment Hero Holdings Pty Ltd. Series E Preferred Shares (113,250 shares) Initial Acquisition Date 3/1/20222025-01-012025-09-300001508655Debt Investments Business Services Elements Finco Limited Investment First-lien loan ($4,069 par, due 4/2031) Initial Acquisition Date 04/29/2024 Reference Rate and Spread SOFR + 4.97% Interest Rate 9.33% (incl. 1.97% PIK)2024-12-310001508655tslx:DelayedDrawAndRevolverMembertslx:BtrsHoldingIncMember2024-12-310001508655Debt Investments Retail and Consumer Products PDI TA Holdings, Inc. First-lien revolving loan ($656 par, due 2/2031) Initial Acquisition Date 2/1/2024 Reference Rate and Spread SOFR + 5.50% Interest Rate 9.81%2025-01-012025-09-300001508655Debt Investments Financial Services BTRS Holdings, Inc. Investment First-lien revolving loan ($1,807 par, due 12/2028) Initial Acquisition Date 12/16/2022 Reference Rate and Spread SOFR + 7.25% Interest Rate 11.76%2024-12-310001508655Debt Investments Business Services Mitnick Corporate Purchaser, Inc. Investment First-lien loan ($326 par, due 5/2029) Initial Acquisition Date 05/02/2022 Reference Rate and Spread SOFR + 4.50% Interest Rate 9.19%2024-12-3100015086552025-09-300001508655tslx:O2024Q1SupplementalDividendsMember2024-02-150001508655Debt Investments Human Resource Support Services Axonify, Inc. First-lien loan ($44,419 par, due 5/2026) Initial Acquisition Date 5/5/2021 Reference Rate and Spread SOFR + 7.65% Interest Rate 12.20%2024-01-012024-12-310001508655Other Investments Palmer Square CLO Ltd, Series 2021 -4 Structured Credit ($4,000 par, due 7/2038) Initial Acquisition Date 9/16/2025 Reference Rate and Spread SOFR + 5.75% Interest Rate 10.02%2025-01-012025-09-300001508655tslx:OilGasAndConsumableFuelsMembertslx:EquityAndOtherInvestmentsMember2024-12-310001508655us-gaap:BaseRateMemberus-gaap:RevolvingCreditFacilityMember2025-03-040001508655tslx:KryptonaBidCoUSLLCMembertslx:RevolverMember2025-09-300001508655Debt Investments Internet Services SMA Technologies Holdings, LLC First-lien loan ($55,579 par, due 10/2028) Initial Acquisition Date 10/31/2022 Reference Rate and Spread SOFR + 6.50% Interest Rate 10.70%2025-09-300001508655Other Investments Canyon CLO Ltd, Series 2025 -1A Structured Credit ($1,125 par, due 4/2038) Initial Acquisition Date 7/28/2025 Reference Rate and Spread SOFR + 4.75% Interest Rate 9.04%2025-01-012025-09-300001508655tslx:RevolvingCreditFacilityMaturityOnApril232027Member2025-03-040001508655Other Investments Whitebox CLO Ltd, Series 2023 -4A Structured Credit ($1,500 par, due 4/2036) Initial Acquisition Date 8/20/2025 Reference Rate and Spread SOFR + 6.48% Interest Rate 10.81%2025-09-300001508655us-gaap:RetainedEarningsMember2025-04-012025-06-300001508655Other Investments CarVal CLO Ltd, Series 2021 -2A Investment Structured Credit ($2,000 par, due 10/2034) Initial Acquisition Date 9/9/2025 Reference Rate and Spread SOFR + 7.01% Interest Rate 11.33%2025-01-012025-09-300001508655tslx:TwoThousandTwentyNineNotesMember2025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:HeritageEnvironmentalServicesIncMember2024-12-310001508655tslx:DelayedDrawMembertslx:RainFocusLLCMember2024-12-310001508655us-gaap:RealEstateMembersrt:MaximumMember2025-09-300001508655us-gaap:FinancialServicesSectorMembertslx:EquityAndOtherInvestmentsMember2025-09-300001508655tslx:TwoThousandTwentyFourTwentySixTwentyEightAndTwentyNineMember2024-07-012024-09-300001508655Equity and Other Investments Financial Services TradingScreen, Inc. Class AA Units (19,093 units) Initial Acquisition Date 11/1/2024 Reference Rate and Spread 20.00% Interest Rate 20.00%2024-12-310001508655tslx:DelayedDrawMembertslx:SlBuyerCorpMember2025-09-300001508655Debt Investments Chemicals Erling Lux Bidco SARL Investment First-lien loan (NOK 7,428 par, due 9/2028) Initial Acquisition Date 09/06/2022 Reference Rate and Spread N + 7.00% Interest Rate 11.69%2024-01-012024-12-310001508655tslx:O2024Q2BaseDividendsMember2024-05-010001508655Debt Investments Retail and Consumer Products Rapid Data GmbH Unternehmensberatung First-lien loan (EUR 7,378 par, due 7/2029) Initial Acquisition Date 7/11/2023 Reference Rate and Spread E + 6.25% Interest Rate 9.47% (incl. 3.00% PIK)2024-01-012024-12-310001508655us-gaap:FairValueInputsLevel3Membertslx:SecondLienDebtInvestmentsMember2024-12-310001508655Equity and Other Investments Communications Celtra Technologies, Inc. Class A Units (1,250,000 units) Initial Acquisition Date 11/19/20212025-09-300001508655tslx:ManufacturingMember2024-12-310001508655Equity and Other Investments Internet Services SMA Technologies Holdings, LLC Class B Units (1,124,813 units) Initial Acquisition Date 11/21/20222025-09-300001508655Debt Investments Other Omnigo Software, LLC First-lien loan ($39,225 par, due 3/2027) Initial Acquisition Date 3/31/2021 Reference Rate and Spread SOFR + 5.50% Interest Rate 9.66%2025-09-300001508655Other Investments Diameter Capital CLO Ltd, Series 2025 -9A Structured Credit ($3,500 par, due 4/2038) Initial Acquisition Date 9/2/2025 Reference Rate and Spread SOFR + 4.70% Interest Rate 9.02%2025-01-012025-09-300001508655Equity and Other Investments Human Resource Support Services Employment Hero Holdings Pty Ltd. Series E Preferred Shares (113,250 shares) Initial Acquisition Date 3/1/20222024-01-012024-12-310001508655tslx:InterestRateSwapOneMember2024-09-300001508655tslx:InvestmentAdvisoryAgreementMember2025-07-012025-09-300001508655tslx:MarketingServicesMember2024-12-310001508655Debt Investments Internet Services CrunchTime Information, Systems, Inc. First-lien loan ($58,898 par, due 6/2028) Initial Acquisition Date 6/17/2022 Reference Rate and Spread SOFR + 5.75% Interest Rate 10.11%2024-01-012024-12-310001508655tslx:DelayedDrawAndRevolverMembertslx:ErlingLuxBidcoSarlMember2024-12-310001508655Debt Investments Pharmaceuticals Elysium BidCo Limited First-lien loan (GBP 9,953 par, due 6/2030) Initial Acquisition Date 12/11/2024 Reference Rate and Spread S + 7.25% Interest Rate 11.95%2024-01-012024-12-310001508655Debt Investments Retail and Consumer Products Acosta First-lien loan ($13,925 par, due 8/2031) Initial Acquisition Date 8/20/2024 Reference Rate and Spread SOFR + 5.60% Interest Rate 9.60%2025-09-300001508655Debt Investments Education EMS Linq, Inc. Investment First-lien revolving loan ($2,635 par, due 12/2027) Initial Acquisition Date 12/22/2021 Reference Rate and Spread SOFR + 6.35% Interest Rate 10.55%2025-01-012025-09-300001508655Debt Investments Retail and Consumer Products Tango Management Consulting, LLC First-lien revolving loan ($2,454 par, due 12/2027) Initial Acquisition Date 12/1/2021 Reference Rate and Spread P + 6.75% Interest Rate 14.25%2024-01-012024-12-310001508655us-gaap:RevolvingCreditFacilityMembersrt:MaximumMember2025-03-042025-03-040001508655tslx:InvestmentAdvisoryAgreementMembertslx:RealizedCapitalGainsAccruedPriorToMarchThirtyFirstTwoThousandFourteenMember2011-04-152011-04-150001508655tslx:TwoThousandTwentyFourTwentySixTwentyEightTwentyNineAndTwentyThirtyNotesMember2025-07-012025-09-300001508655Debt Investments Business Services USA DeBusk, LLC Investment First-lien loan ($6,969 par, due 4/2031) Initial Acquisition Date 4/30/2024 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.45%2025-01-012025-09-300001508655Debt Investments Internet Services RainFocus, LLC First-lien loan ($62,653 par, due 4/2031) Initial Acquisition Date 4/25/2025 Reference Rate and Spread SOFR + 6.38% Interest Rate 10.25%2025-09-3000015086552025-01-012025-09-300001508655Debt Investments Communications Aurelia Netherlands MidCo 2 B.V. Investment First-lien loan (EUR 32,904 par, due 5/2031) Initial Acquisition Date 5/22/2024 Reference Rate and Spread E + 4.75% Interest Rate 6.78%2025-01-012025-09-300001508655Debt Investments Transportation Marcura Equities LTD First-lien revolving loan ($2,333 par, due 8/2029) Initial Acquisition Date 8/11/2023 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.33%2024-12-310001508655Debt Investments Real Estate Cirrus (BidCo) Limited First-lien loan (GBP 698 par, due 8/2030) Initial Acquisition Date 8/9/2024 Reference Rate and Spread S + 5.75% Interest Rate 9.72% (incl. 2.50% PIK)2025-01-012025-09-300001508655Debt Investments Business Services Lynx BidCo Investment First-lien loan (EUR 597 par, due 7/2031) Initial Acquisition Date 07/05/2024 Reference Rate and Spread E + 7.11% Interest Rate 10.38% (incl. 5.61% PIK)2024-12-310001508655Equity and Other Investments Marketing Services Validity, Inc. Series A Preferred Shares (3,840,000 shares) Initial Acquisition Date 5/31/20182024-12-310001508655Equity and Other Investments Business Services Newark FP Co-Invest, L.P. Partnership (2,527,719 units) Initial Acquisition Date 11/8/20232024-12-310001508655Debt Investments Business Services Elements Finco Limited Investment First-lien loan (GBP 10,462 par, due 4/2031) Initial Acquisition Date 4/29/2024 Reference Rate and Spread S + 5.50% Interest Rate 9.47% (incl. 2.50% PIK)2025-01-012025-09-300001508655tslx:SecondLienDebtInvestmentsMember2024-01-012024-09-300001508655srt:AffiliatedEntityMember2024-12-310001508655Equity and Other Investments Oil, Gas and Consumable Fuels Murchison Oil and Gas, LLC Preferred Units (13,355 units) Initial Acquisition Date 6/30/20222024-12-310001508655tslx:DelayedDrawAndRevolverMembertslx:HippoXpaBidcoAbMember2025-09-300001508655Debt Investments Internet Services Hippo XPA Bidco AB Investment First-lien loan (SEK 211,306 par, due 2/2031) Initial Acquisition Date 2/20/2024 Reference Rate and Spread STIBOR + 6.50% Interest Rate 8.58% (incl. 3.50% PIK)2025-09-300001508655tslx:TwoThousandTwentyFourTwentySixTwentyEightTwentyNineAndTwentyThirtyNotesMember2025-01-012025-09-300001508655Debt Investments Retail and Consumer Products Bed Bath and Beyond Inc. ABL FILO term loan ($5,910 par, due 8/2027) Initial Acquisition Date 9/2/2022 Reference Rate and Spread SOFR + 9.90% Interest Rate 14.06%2025-01-012025-09-300001508655Interest Rate Swap Company Pays SOFR + 2.44% Maturity Date 3/1/20292025-09-300001508655Debt Investments Internet Services Flight Intermediate HoldCo, Inc. Investment First-lien loan ($40,000 par, due 4/2030) Initial Acquisition Date 10/3/2024 Reference Rate and Spread 11.50% Interest Rate 11.50% Interest Rate 11.50%2025-01-012025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:FullsteamOperationsLlcMember2024-12-310001508655us-gaap:CommonStockMember2024-03-310001508655tslx:InterestRateSwapThreeMember2025-07-012025-09-300001508655tslx:O2025Q3SupplementalDividendsMember2025-07-300001508655Debt Investments Retail and Consumer Products American Achievement, Corp. First-lien loan ($1,331 par, due 9/2026) Initial Acquisition Date 6/10/2021 Reference Rate and Spread SOFR + 15.10 Interest Rate 19.38% (incl. 18.88% PIK)%2025-09-300001508655us-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:MeasurementInputComparabilityAdjustmentMembertslx:EquityAndOtherInvestmentsMembersrt:MaximumMember2024-12-310001508655Equity and Other Investments Retail and Consumer Products Neuintel, LLC Class A Units (1,176,494 units) Initial Acquisition Date 12/20/20212024-01-012024-12-310001508655Equity and Other Investments Internet Services Piano Software, Inc. Series C-2 Preferred Shares (27,588 shares) Initial Acquisition Date 11/18/20222024-12-310001508655us-gaap:AdditionalPaidInCapitalMember2025-04-012025-06-300001508655Interest Rate Swap Company Receives 6.125% Company Pays SOFR + 2.44% Maturity Date 3/1/20292025-09-300001508655Equity and Other Investments Business Services Artisan Topco LP Class A Preferred Units (2,117,264 units) Initial Acquisition Date 11/7/20232024-01-012024-12-310001508655Debt Investments Healthcare Edge Bidco B.V. Investment First-lien loan (EUR 5,947 par, due 2/2029) Initial Acquisition Date 02/24/2023 Reference Rate and Spread E + 6.75% Interest Rate 9.43%2024-12-310001508655Debt Investments Internet Services Hippo XPA Bidco AB First-lien loan (SEK 80,225 par, due 2/2031) Initial Acquisition Date 2/20/2024 Reference Rate and Spread STIBOR + 6.50% Interest Rate 9.16% (incl. 3.50% PIK)2024-12-310001508655Debt Investments Retail and Consumer Products Belk, Inc. First-lien loan ($49,375 par, due 7/2029) Initial Acquisition Date 7/22/2024 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.51%2024-12-310001508655Debt Investments Office Products USR Parent, Inc. ABL FILO term loan ($10,309 par, due 4/2027) Initial Acquisition Date 4/25/2022 Reference Rate and Spread SOFR + 6.50% Interest Rate 10.78%2025-01-012025-09-300001508655Debt Investments Chemicals Erling Lux Bidco SARL Investment First-lien loan (EUR 7,239 par, due 9/2028) Initial Acquisition Date 09/06/2022 Reference Rate and Spread E + 7.00% Interest Rate 10.06%2024-01-012024-12-310001508655tslx:DelayedDrawMembertslx:AxonifyIncMember2024-12-310001508655us-gaap:FairValueInputsLevel3Membertslx:FirstLienDebtInvestmentsMember2024-12-310001508655Equity and Other Investments Communications IntelePeer Holdings, Inc. Series C Warrants (280,000 warrants) Initial Acquisition Date 2/28/20202024-12-310001508655Equity and Other Investments Business Services Mitnick TA Aggregator, L.P. Membership Interest (0.43% ownership) Initial Acquisition Date 5/2/20222024-12-310001508655us-gaap:TreasuryStockCommonMember2024-06-300001508655Equity and Other Investments Communications IntelePeer Holdings, Inc. Series C Preferred Shares (1,816,295 shares) Initial Acquisition Date 4/8/20212024-01-012024-12-310001508655us-gaap:FairValueInputsLevel3Membertslx:FirstLienDebtInvestmentsMember2025-07-012025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:EventusBuyerLLCMember2024-12-310001508655Debt Investments Retail and Consumer Products PDI TA Holdings, Inc. First-lien loan ($18,133 par, due 2/2031) Initial Acquisition Date 2/1/2024 Reference Rate and Spread SOFR + 5.50% Interest Rate 10.09%2024-01-012024-12-310001508655us-gaap:TreasuryStockCommonMember2024-03-310001508655tslx:TwentyTwentySixNotesMember2025-01-012025-09-300001508655tslx:RevolvingCreditFacilityMaturityOnApril232027Member2024-04-240001508655Debt Investments Internet Services Kryptona BidCo US, LLC First-lien loan ($19,912 par, due 12/2031) Initial Acquisition Date 12/18/2024 Reference Rate and Spread SOFR + 5.75% Interest Rate 10.10%2024-01-012024-12-310001508655Other Investments Regatta Funding Ltd, Series 2020 -1A Structured Credit ($1,000 par, due 10/2037) Initial Acquisition Date 7/17/2025 Reference Rate and Spread SOFR + 6.50% Interest Rate 10.82%2025-01-012025-09-300001508655Equity and Other Investments Education EMS Linq, Inc. Class B Units (5,522,526 units) Initial Acquisition Date 12/22/20212025-09-300001508655Debt Investments Other Scorpio Bidco First-lien loan (EUR 2,511 par, due 4/2031) Initial Acquisition Date 4/4/2024 Reference Rate and Spread E + 5.75% Interest Rate 8.43%2024-12-310001508655tslx:EquityDistributionAgreementMember2025-01-012025-09-300001508655Equity and Other Investments Human Resource Support Services DaySmart Holdings, LLC Class A Units (166,811 units) Initial Acquisition Date 12/18/20202025-09-300001508655country:FI2024-12-310001508655tslx:MezzanineDebtInvestmentsMember2025-01-012025-09-300001508655Other Investments Neuberger Berman Loan Advisers CLO Ltd, Series 2019 -33A Structured Credit ($2,000 par, due 10/2039) Initial Acquisition Date 9/9/2025 Reference Rate and Spread SOFR + 5.50% Interest Rate 9.82%2025-09-300001508655Equity and Other Investments Retail and Consumer Products Neuintel, LLC Class A Units (1,176,494 units) Initial Acquisition Date 12/20/20212024-12-310001508655us-gaap:RetainedEarningsMember2025-01-012025-03-310001508655Other Investments Goldentree Loan Management US CLO Ltd, Series 2023 -17A Structured Credit ($3,000 par, due 1/2039) Initial Acquisition Date 7/16/2025 Reference Rate and Spread SOFR + 5.40% Interest Rate 9.73%2025-01-012025-09-300001508655tslx:SecondLienDebtInvestmentsMember2025-09-300001508655Equity and Other Investments Communications IntelePeer Holdings, Inc. Series C Warrants (280,000 warrants) Initial Acquisition Date 2/28/20202024-01-012024-12-310001508655Other Investments Palmer Square CLO Ltd, Series 2025 -1A Structured Credit ($2,250 par, due 4/2038) Initial Acquisition Date 8/21/2025 Reference Rate and Spread SOFR + 4.50% Interest Rate 8.81%2025-01-012025-09-300001508655tslx:MezzanineDebtInvestmentsMember2025-09-300001508655Equity and Other Investments Business Services Artisan Topco LP Class A Preferred Units (2,117,264 units) Initial Acquisition Date 11/7/20232024-12-310001508655Debt Investments Internet Services Flight Intermediate HoldCo, Inc. Investment First-lien loan ($40,000 par, due 4/2030) Initial Acquisition Date 10/3/2024 Reference Rate and Spread 11.50% Interest Rate 11.50% Interest Rate 11.50%2025-09-300001508655Debt Investments Business Services BCTO Ignition Purchaser, Inc. Investment First-lien holdco loan ($36,231 par, due 10/2030) Initial Acquisition Date 04/18/2023 Reference Rate and Spread SOFR + 8.50% Interest Rate 13.13% PIK2024-01-012024-12-310001508655Debt Investments Healthcare Symplr Software Inc. Investment First-lien loan ($636 par, due 12/2027) Initial Acquisition Date 4/4/2025 Reference Rate and Spread SOFR + 4.60% Interest Rate 8.91%2025-09-300001508655Debt Investments Business Services Wrangler TopCo, LLC Investment First-lien loan ($5,484 par, due 9/2029) Initial Acquisition Date 07/07/2023 Reference Rate and Spread SOFR + 6.00% Interest Rate 10.38%2024-01-012024-12-310001508655tslx:EducationMember2024-12-310001508655Debt Investments Manufacturing ASP Unifrax Holdings, Inc. First-lien loan ($3,575 par, due 9/2029) Initial Acquisition Date 9/30/2024 Reference Rate and Spread SOFR + 7.75% Interest Rate 11.75% (incl. 4.75% PIK)2025-01-012025-09-300001508655tslx:TwoThousandTwentyNineNotesMemberus-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember2025-01-012025-09-300001508655Debt Investments Internet Services LeanTaaS Holdings, Inc. First-lien loan ($56,156 par, due 7/2028) Initial Acquisition Date 7/12/2022 Reference Rate and Spread SOFR + 7.50% Interest Rate 11.83%2024-12-310001508655tslx:InternetServicesMembertslx:EquityAndOtherInvestmentsMember2024-12-310001508655Equity and Other Investments Business Services Insight Hideaway Aggregator, L.P. Partnership Interest (329,861 units) Initial Acquisition Date 3/19/20242025-01-012025-09-300001508655us-gaap:FairValueInputsLevel2Membertslx:SecondLienDebtInvestmentsMember2024-12-310001508655tslx:DelayedDrawMembertslx:ScorpioBidcoMember2025-09-300001508655Debt Investments Transportation Ben Nevis Midco Limited First-lien loan ($3,635 par, due 3/2028) Initial Acquisition Date 3/26/2024 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.81%2024-01-012024-12-310001508655us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMembersrt:MaximumMembertslx:MezzanineDebtInvestmentsMember2024-12-310001508655us-gaap:FairValueInputsLevel3Membertslx:EquityAndOtherInvestmentsMember2024-01-012024-09-300001508655Debt Investments Retail and Consumer Products American Achievement, Corp. Subordinated note ($4,740 par, due 9/2026) Initial Acquisition Date 3/16/2021 Reference Rate and Spread SOFR + 1.15% Interest Rate 5.74%2024-12-310001508655tslx:TwentyTwentySixNotesMember2021-02-032021-02-030001508655tslx:O2025Q2BaseDividendsMember2025-04-300001508655Debt Investments Healthcare Merative L.P. Investment First-lien loan ($70,103 par, due 6/2028) Initial Acquisition Date 06/30/2022 Reference Rate and Spread SOFR + 7.25% Interest Rate 11.58%2024-12-310001508655Debt Investments Internet Services LeanTaaS Holdings, Inc. First-lien loan ($62,479 par, due 7/2028) Initial Acquisition Date 7/12/2022 Reference Rate and Spread SOFR + 7.75% Interest Rate 11.75%2025-09-300001508655us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMembertslx:SecondLienDebtInvestmentsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMember2025-09-300001508655Equity and Other Investments Business Services Newark FP Co-Invest, L.P. Partnership (2,527,719 units) Initial Acquisition Date 11/8/20232025-01-012025-09-300001508655tslx:VelocityClinicalResearchIncMembertslx:DelayedDrawAndRevolverMember2025-09-300001508655us-gaap:RevolvingCreditFacilityMembersrt:MinimumMembersrt:ObligorGroupMember2025-09-300001508655Debt Investments Hotel, Gaming and Leisure Sport Alliance GmbH First-lien loan (EUR 4,494 par, due 4/2030) Initial Acquisition Date 4/10/2024 Reference Rate and Spread E + 7.25% Interest Rate 10.15% (incl. 3.88% PIK)2024-01-012024-12-310001508655Debt Investments Financial Services Fullsteam Operations, LLC Investment First-lien loan ($40,048 par, due 11/2029) Initial Acquisition Date 11/27/2023 Reference Rate and Spread SOFR + 8.38% Interest Rate 12.89%2024-12-310001508655Debt Investments Business Services Artisan Bidco, Inc. Investment First-lien loan (EUR 17,425 par, due 11/2029) Initial Acquisition Date 11/7/2023 Reference Rate and Spread E + 7.00% Interest Rate 8.94%2025-01-012025-09-300001508655Debt Investments Internet Services Hippo XPA Bidco AB Investment First-lien loan (EUR 2,537 par, due 2/2031) Initial Acquisition Date 2/20/2024 Reference Rate and Spread E + 6.50% Interest Rate 8.56% (incl. 3.50% PIK)2025-09-300001508655us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMembertslx:TwoThousandTwentyEightNotesMember2024-01-012024-12-310001508655tslx:SecondLienDebtInvestmentsMember2025-06-300001508655tslx:EquityAndOtherInvestmentsMember2024-06-300001508655us-gaap:RetainedEarningsMember2024-07-012024-09-300001508655tslx:MezzanineDebtInvestmentsMember2024-12-310001508655us-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:MeasurementInputComparabilityAdjustmentMembertslx:EquityAndOtherInvestmentsMember2025-09-300001508655Debt Investments Financial Services GreenShoot BidCo B.V Investment First-lien loan (EUR 5,107 par, due 5/2030) Initial Acquisition Date 5/28/2024 Reference Rate and Spread E + 5.75% Interest Rate 7.78%2025-01-012025-09-300001508655Equity and Other Investments Business Services Artisan Topco LP Class A Preferred Units (2,117,264 units) Initial Acquisition Date 11/7/20232025-01-012025-09-300001508655tslx:DelayedDrawMembertslx:SkyBidcoSPAMember2025-09-300001508655Debt Investments Business Services Galileo Parent, Inc. Investment First-lien revolving loan ($6,635 par, due 5/2030) Initial Acquisition Date 5/3/2023 Reference Rate and Spread SOFR + 5.75% Interest Rate 9.75%2025-01-012025-09-300001508655Debt Investments Education Kangaroo Bidco AS Investment First-lien loan ($30,625 par, due 11/2030) Initial Acquisition Date 11/2/2023 Reference Rate and Spread SOFR + 6.25% Interest Rate 10.43%2025-09-300001508655tslx:FirstLienDebtInvestmentsMember2024-07-012024-09-300001508655tslx:DelayedDrawMembertslx:AxonifyIncMember2025-09-300001508655Debt Investments Business Services Azurite Intermediate Holdings, Inc. Investment First-lien loan ($42,750 par, due 3/2031) Initial Acquisition Date 3/19/2024 Reference Rate and Spread SOFR + 6.00% Interest Rate 10.16%2025-09-300001508655us-gaap:InvestmentUnaffiliatedIssuerMember2025-07-012025-09-300001508655Debt Investments Internet Services Big Wombat Holdings, Inc. Investment First-lien loan ($30,544 par, due 4/2031) Initial Acquisition Date 4/16/2025 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.00%2025-09-300001508655tslx:RevolvingCreditFacilityMaturityOnFebruary42026Member2024-04-2400015086552025-11-040001508655tslx:DelayedDrawMembertslx:KahuaIncMember2025-09-300001508655Interest Rate Swap Company Receives 5.625% Company Pays SOFR + 1.53% Maturity Date 8/15/20302025-01-012025-09-300001508655tslx:ArtisanBidcoIncMembertslx:RevolverMember2025-09-300001508655tslx:EducationMembertslx:EquityAndOtherInvestmentsMember2024-12-310001508655Debt Investments Internet Services EDB Parent, LLC First-lien loan ($69,873 par, due 7/2028) Initial Acquisition Date 7/7/2022 Reference Rate and Spread SOFR + 6.75% Interest Rate 11.26%2024-01-012024-12-310001508655tslx:ElectronicsMember2024-12-310001508655Debt Investments Business Services Elements Finco Limited Investment First-lien loan ($1,848 par, due 4/2031) Initial Acquisition Date 4/29/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.16%2025-01-012025-09-300001508655Debt Investments Hotel, Gaming and Leisure Equinox Holdings, Inc. Investment Second-lien loan ($2,639 par, due 6/2027) Initial Acquisition Date 3/13/2024 Reference Rate and Spread 16.00% Interest Rate 16.00% PIK2025-09-300001508655Other Investments Oha Credit Funding Ltd, Series 2025 -22A Structured Credit ($1,250 par, due 7/2038) Initial Acquisition Date 7/24/2025 Reference Rate and Spread SOFR + 5.55% Interest Rate 9.83%2025-01-012025-09-300001508655Debt Investments Business Services Elements Finco Limited Investment First-lien loan ($1,848 par, due 4/2031) Initial Acquisition Date 4/29/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.16%2025-09-300001508655tslx:ArtisanBidcoIncMembertslx:RevolverMember2024-12-310001508655us-gaap:DomesticCountryMember2025-09-300001508655tslx:SecondLienDebtInvestmentsMember2023-12-310001508655us-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:MeasurementInputComparabilityAdjustmentMembertslx:EquityAndOtherInvestmentsMember2024-12-310001508655us-gaap:RevolvingCreditFacilityMembersrt:MaximumMember2025-09-300001508655Debt Investments Other Kahua, Inc. First-lien loan ($25,000 par, due 8/2030) Initial Acquisition Date 8/22/2025 Reference Rate and Spread SOFR + 6.00% Interest Rate 10.12%2025-01-012025-09-300001508655Debt Investments Oil, Gas and Consumable Fuels TRP Assets, LLC First-lien loan ($54,834 par, due 12/2029) Initial Acquisition Date 12/20/2024 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.33%2024-12-310001508655Debt Investments Healthcare Edge Bidco B.V. Investment First-lien loan (EUR 5,918 par, due 2/2029) Initial Acquisition Date 2/24/2023 Reference Rate and Spread E + 6.50% Interest Rate 8.50%2025-01-012025-09-300001508655Other Investments Lake George Park CLO Ltd, Series 2025 -1A Structured Credit ($4,500 par, due 4/2038) Initial Acquisition Date 8/27/2025 Reference Rate and Spread SOFR + 4.60% Interest Rate 8.89%2025-01-012025-09-300001508655Debt Investments Manufacturing Skylark UK DebtCo Limited First-lien loan (GBP 643 par, due 9/2030) Initial Acquisition Date 2/20/2025 Reference Rate and Spread S + 5.00% Interest Rate 8.97%2025-09-300001508655tslx:CommunicationsMember2025-09-300001508655Debt Investments Other Sky Bidco S.p.A. First-lien note ($14,085 par, due 10/2031) Initial Acquisition Date 10/29/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.00%2025-01-012025-09-300001508655us-gaap:InterestRateSwapMember2024-12-310001508655tslx:DelayedDrawAndRevolverMembertslx:HeritageEnvironmentalServicesIncMember2025-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:EquityAndOtherInvestmentsMember2025-07-012025-09-300001508655Equity and Other Investments Financial Services Newport Parent Holdings, L.P. Class A-2 Units (131,569 units) Initial Acquisition Date 12/10/20202024-12-310001508655Debt Investments Automotive Truck-Lite Co., LLC Investment First-lien loan ($40,134 par, due 2/2031) Initial Acquisition Date 02/13/2024 Reference Rate and Spread SOFR + 5.75% Interest Rate 10.27%2024-12-310001508655us-gaap:BaseRateMemberus-gaap:RevolvingCreditFacilityMembersrt:MinimumMember2025-09-300001508655tslx:InsuranceMember2025-09-300001508655Debt Investments Business Services USA DeBusk, LLC Investment First-lien revolving loan ($275 par, due 4/2030) Initial Acquisition Date 04/30/2024 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.59%2024-01-012024-12-310001508655Debt Investments Hotel, Gaming and Leisure IRGSE Holding Corp. First-lien loan ($30,261 par, due 6/2025) Initial Acquisition Date 12/21/2018 Reference Rate and Spread SOFR + 9.65% Interest Rate 13.98%2024-01-012024-12-310001508655tslx:InterestRateSwapOneMember2024-07-012024-09-300001508655us-gaap:InvestmentUnaffiliatedIssuerMember2025-09-300001508655Other Investments CarVal CLO Ltd, Series 2023 -1A Structured Credit ($3,000 par, due 7/2037) Initial Acquisition Date 8/13/2025 Reference Rate and Spread SOFR + 6.35% Interest Rate 10.68%2025-09-300001508655tslx:FirstLienDebtInvestmentsMember2023-12-310001508655tslx:MezzanineDebtInvestmentsMember2025-09-300001508655tslx:AdministrationAgreementMemberus-gaap:GeneralAndAdministrativeExpenseMembertslx:AdviserMember2025-01-012025-09-300001508655Debt Investments Healthcare Eventus Buyer, LLC Investment First-lien loan ($25,900 par, due 11/2030) Initial Acquisition Date 11/1/2024 Reference Rate and Spread SOFR + 5.50% Interest Rate 9.86%2024-01-012024-12-310001508655tslx:EquityAndOtherInvestmentsMembertslx:HumanResourceSupportServicesMember2025-09-300001508655Debt Investments Manufacturing Skylark UK DebtCo Limited First-lien loan (EUR 4,851 par, due 9/2030) Initial Acquisition Date 9/7/2023 Reference Rate and Spread E + 5.66% Interest Rate 7.66%2025-01-012025-09-300001508655Debt Investments Real Estate Cirrus (BidCo) Limited First-lien loan (GBP 675 par, due 8/2030) Initial Acquisition Date 8/9/2024 Reference Rate and Spread S + 6.25% Interest Rate 10.95% (incl. 3.00% PIK)2024-12-310001508655us-gaap:RetainedEarningsMember2025-06-300001508655us-gaap:FairValueInputsLevel2Member2025-09-300001508655us-gaap:RetainedEarningsMember2024-12-310001508655us-gaap:RetainedEarningsMember2024-09-300001508655tslx:TwentyTwentyFourNotesMember2019-11-012019-11-300001508655tslx:EquityAndOtherInvestmentsMembertslx:HotelGamingAndLeisureMember2024-12-310001508655tslx:TradingScreenIncMembertslx:RevolverMember2024-12-310001508655Equity and Other Investments Communications IntelePeer Holdings, Inc. Series C Preferred Shares (1,816,295 shares) Initial Acquisition Date 4/8/20212025-01-012025-09-300001508655tslx:DelayedDrawMembertslx:ArrowbuyerIncMember2024-12-310001508655Derivative Interest Rate Swap2024-12-310001508655Debt Investments Manufacturing ASP Unifrax Holdings, Inc. First-lien loan ($3,449 par, due 9/2029) Initial Acquisition Date 9/30/2024 Reference Rate and Spread SOFR + 7.75% Interest Rate 12.08% (incl. 4.75% PIK)2024-01-012024-12-310001508655us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMember2025-01-012025-09-300001508655Debt Investments Healthcare Eventus Buyer, LLC Investment First-lien loan ($25,900 par, due 11/2030) Initial Acquisition Date 11/1/2024 Reference Rate and Spread SOFR + 5.50% Interest Rate 9.86%2024-12-310001508655tslx:DelayedDrawMembertslx:ArrowheadPharmaceuticalsIncMember2025-09-300001508655tslx:O2025Q1BaseDividendsMember2025-02-130001508655Debt Investments Financial Services Passport Labs, Inc. Investment Convertible Promissory Note A ($1,086 par, due 8/2026) Initial Acquisition Date 03/02/2023 Reference Rate and Spread 8.00% Interest Rate 8.00%2024-12-310001508655Hedge Accounting Swaps2025-01-012025-09-300001508655Equity and Other Investments Financial Services AF Eagle Parent, L.P. Partnership Units (121,329 units) Initial Acquisition Date 11/27/20232025-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:AssetValuationWaterfallMembertslx:MezzanineDebtInvestmentsMember2024-12-310001508655Debt Investments Retail and Consumer Products Cordance Operations, LLC First-lien loan ($60,781 par, due 7/2028) Initial Acquisition Date 7/25/2022 Reference Rate and Spread SOFR + 9.25% Interest Rate 13.51%2024-01-012024-12-310001508655Equity and Other Investments Human Resource Support Services Employment Hero Holdings Pty Ltd. Series E Preferred Shares (113,250 shares) Initial Acquisition Date 3/1/20222025-09-300001508655tslx:DelayedDrawMembertslx:ShiftmoveGmbhMember2024-12-310001508655Equity and Other Investments Internet Services Piano Software, Inc. Series C-2 Preferred Shares (27,588 shares) Initial Acquisition Date 11/18/20222024-01-012024-12-310001508655Debt Investments Internet Services Kryptona BidCo US, LLC First-lien loan ($20,427 par, due 12/2031) Initial Acquisition Date 12/18/2024 Reference Rate and Spread SOFR + 6.00% Interest Rate 10.03% (incl. 3.25% PIK)2025-01-012025-09-300001508655tslx:DelayedDrawMembertslx:BanyanSoftwareHoldingsLlcMember2025-09-300001508655Debt Investments Chemicals Erling Lux Bidco SARL Investment First-lien loan (NOK 7,427 par, due 9/2028) Initial Acquisition Date 9/6/2022 Reference Rate and Spread N + 7.00% Interest Rate 11.33%2025-09-300001508655Debt Investments Internet Services Kryptona BidCo US, LLC First-lien loan ($20,427 par, due 12/2031) Initial Acquisition Date 12/18/2024 Reference Rate and Spread SOFR + 6.00% Interest Rate 10.03% (incl. 3.25% PIK)2025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:PdiTaHoldingsIncMember2025-09-3000015086552024-01-012024-09-300001508655Other Investments Oha Credit Funding Ltd, Series 2025 -22A Structured Credit ($1,250 par, due 7/2038) Initial Acquisition Date 7/24/2025 Reference Rate and Spread SOFR + 5.55% Interest Rate 9.83%2025-09-300001508655tslx:PrimeRevenueIncMembertslx:RevolverMember2025-09-300001508655us-gaap:HealthcareSectorMemberus-gaap:DebtSecuritiesMember2024-12-310001508655us-gaap:RevolvingCreditFacilityMembersrt:MinimumMember2025-03-042025-03-040001508655Debt Investments Business Services Elements Finco Limited Investment First-lien loan (GBP 10,275 par, due 4/2031) Initial Acquisition Date 04/29/2024 Reference Rate and Spread S + 5.25% Interest Rate 9.95% (incl. 2.25% PIK2024-12-310001508655Debt Investments Financial Services CLGF Holdco 2, LLC Investment Second-lien loan ($3,357 par, due 11/2028) Initial Acquisition Date 11/07/2023 Reference Rate and Spread SOFR + 12.00% Interest Rate 16.33%2024-12-310001508655Debt Investments Business Services Elements Finco Limited Investment First-lien loan ($2,257 par, due 4/2031) Initial Acquisition Date 4/29/2024 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.41% (incl. 2.25% PIK)2025-09-300001508655tslx:SecondLienDebtInvestmentsMember2024-01-012024-12-310001508655Other Investments Neuberger Berman Loan Advisers CLO Ltd, Series 2021 -44A Structured Credit ($1,000 par, due 10/2035) Initial Acquisition Date 8/15/2025 Reference Rate and Spread SOFR + 5.15% Interest Rate 9.47%2025-09-300001508655tslx:O2024Q3BaseDividendsMember2024-07-310001508655Debt Investments Healthcare BCTO Ace Purchaser, Inc. Investment First-lien loan ($70,154 par, due 11/2029) Initial Acquisition Date 11/23/2020 Reference Rate and Spread SOFR + 6.50% Interest Rate 11.01%2024-12-310001508655tslx:BusinessServicesMembertslx:EquityAndOtherInvestmentsMember2025-09-300001508655tslx:InterestRateSwapTwoMember2024-09-300001508655tslx:O2024Q2SupplementalDividendsMember2024-05-010001508655us-gaap:FairValueInputsLevel1Member2024-12-310001508655us-gaap:AssetPledgedAsCollateralMember2024-12-310001508655Debt Investments Other Scorpio Bidco First-lien loan (EUR 2,511 par, due 4/2031) Initial Acquisition Date 4/4/2024 Reference Rate and Spread E + 5.75% Interest Rate 8.43%2024-01-012024-12-310001508655Equity and Other Investments Internet Services Bayshore Intermediate #2, L.P. Co-Invest Common Units (8,837,008 units) Initial Acquisition Date 10/1/20212025-09-300001508655us-gaap:CommonStockMember2025-09-300001508655us-gaap:BaseRateMemberus-gaap:RevolvingCreditFacilityMembersrt:MaximumMember2025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:ElysianFincoLtdMember2025-09-300001508655Debt Investments Education Astra Acquisition Corp. Investment Second-lien loan ($40,804 par, due 10/2029) Initial Acquisition Date 10/22/2021 Reference Rate and Spread P + 9.88% Interest Rate 17.13%2025-09-300001508655Debt Investments Business Services Artisan Bidco, Inc. Investment First-lien revolving loan ($3,621 par, due 11/2029) Initial Acquisition Date 11/7/2023 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.19%2025-01-012025-09-300001508655Debt Investments Hotel, Gaming and Leisure Sport Alliance GmbH Investment First-lien loan (EUR 37,013 par, due 4/2030) Initial Acquisition Date 4/10/2024 Reference Rate and Spread E + 7.75% Interest Rate 9.66% (incl. 4.13% PIK)2025-09-300001508655Debt Investments Internet Services Khoros, LLC Investment First-lien loan ($11,682 par, due 5/2030) Initial Acquisition Date 5/23/2025 Reference Rate and Spread 10.00% Interest Rate 10.00%2025-01-012025-09-300001508655tslx:CommunicationsMemberus-gaap:DebtSecuritiesMember2025-09-300001508655Debt Investments Business Services Elements Finco Limited Investment First-lien loan (GBP 10,462 par, due 4/2031) Initial Acquisition Date 4/29/2024 Reference Rate and Spread S + 5.50% Interest Rate 9.47% (incl. 2.50% PIK)2025-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:MezzanineDebtInvestmentsMember2025-01-012025-09-300001508655Debt Investments Financial Services Volante Technologies, Inc. Investment First-lien loan ($3,072 par, due 9/2028) Initial Acquisition Date 09/29/2023 Reference Rate and Spread 16.50% Interest Rate 16.50% PIK2024-01-012024-12-310001508655Other Investments Madison Park Funding Ltd, Series 2025 -72A Structured Credit ($2,500 par, due 7/2038) Initial Acquisition Date 8/18/2025 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.37%2025-09-300001508655tslx:ChemicalsMember2025-09-300001508655Debt Investments Financial Services Alaska Bidco Oy Investment First-lien loan (EUR 727 par, due 5/2030) Initial Acquisition Date 5/30/2023 Reference Rate and Spread E + 5.75% Interest Rate 7.75%2025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:TruckLiteCoLlcMember2025-09-3000015086552024-03-050001508655tslx:SecondLienDebtInvestmentsMember2024-12-310001508655tslx:BigWombatHoldingIncMembertslx:RevolverMember2024-12-310001508655tslx:DelayedDrawMembertslx:ArrowbuyerIncMember2025-09-300001508655Debt Investments Business Services USA DeBusk, LLC Investment First-lien revolving loan ($534 par, due 4/2030) Initial Acquisition Date 4/30/2024 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.41%2025-01-012025-09-300001508655tslx:FirstLienDebtInvestmentsMember2024-12-310001508655Equity and Other Investments Business Services Dye & Durham, Ltd. Common Shares (126,968 shares) Initial Acquisition Date 12/3/20212025-09-300001508655tslx:EquityAndOtherInvestmentsMembertslx:CommunicationsMember2024-12-310001508655Other Investments Neuberger Berman Loan Advisers CLO Ltd, Series 2021 -44A Structured Credit ($1,000 par, due 10/2035) Initial Acquisition Date 8/15/2025 Reference Rate and Spread SOFR + 5.15% Interest Rate 9.47%2025-01-012025-09-300001508655Debt Investments Pharmaceuticals Arrowhead Pharmaceuticals, Inc. First-lien loan ($28,438 par, due 8/2031) Initial Acquisition Date 8/7/2024 Reference Rate and Spread 15.00% Interest Rate 15.00%2025-09-300001508655Other Investments CIFC Funding Ltd, Series 2022 -4A Structured Credit ($3,000 par, due 7/2035) Initial Acquisition Date 8/27/2025 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.53%2025-01-012025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:EmploymentHeroHoldingsPtyLtdMember2025-09-300001508655tslx:FirstLienDebtInvestmentsMember2024-09-300001508655Debt Investments Hotel, Gaming and Leisure AVSC Holding Corp. First-lien loan ($45,167 par, due 12/2031) Initial Acquisition Date 12/5/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.36%2024-01-012024-12-310001508655Debt Investments Manufacturing Skylark UK DebtCo Limited First-lien loan (EUR 4,851 par, due 9/2030) Initial Acquisition Date 9/7/2023 Reference Rate and Spread E + 5.66% Interest Rate 8.35%2024-01-012024-12-310001508655tslx:ManufacturingMemberus-gaap:DebtSecuritiesMember2024-12-310001508655Debt Investments Human Resource Support Services Elysian Finco Ltd. Investment First-lien loan ($21,745 par, due 1/2028) Initial Acquisition Date 1/31/2021 Reference Rate and Spread SOFR + 5.15% Interest Rate 9.15%2025-01-012025-09-300001508655country:FR2024-12-310001508655Debt Investments Internet Services Coupa Holdings, LLC First-lien loan ($42,975 par, due 2/2030) Initial Acquisition Date 2/27/2023 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.84%2024-01-012024-12-310001508655Debt Investments Manufacturing ASP Unifrax Holdings, Inc. Second-lien note ($2,018 par, due 9/2029) Initial Acquisition Date 8/31/2023 Reference Rate and Spread 7.10% Interest Rate 7.10% (incl. 1.25% PIK)2025-09-300001508655tslx:FirstLienDebtInvestmentsMember2025-07-012025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:BlueSnapIncMember2024-12-310001508655us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMembersrt:MinimumMemberus-gaap:IncomeApproachValuationTechniqueMembertslx:MezzanineDebtInvestmentsMember2024-12-310001508655Debt Investments Education Destiny Solutions Parent Holding Company Investment First-lien loan ($58,950 par, due 6/2026) Initial Acquisition Date 06/08/2021 Reference Rate and Spread SOFR + 5.60% Interest Rate 9.96%2024-01-012024-12-310001508655us-gaap:DebtSecuritiesMembertslx:HotelGamingAndLeisureMember2025-09-300001508655Debt Investments Internet Services LeanTaaS Holdings, Inc. First-lien loan ($62,479 par, due 7/2028) Initial Acquisition Date 7/12/2022 Reference Rate and Spread SOFR + 7.75% Interest Rate 11.75%2025-01-012025-09-300001508655Controlled Affiliated Investments IRGSE Holding Corp.2024-01-012024-12-310001508655tslx:TwoThousandTwentyFourNotesMember2020-12-310001508655Derivative Interest Rate Swap2025-01-012025-09-300001508655Equity and Other Investments Marketing Services Validity, Inc. Series A Preferred Shares (3,840,000 shares) Initial Acquisition Date 5/31/20182025-09-300001508655tslx:EquityInvestmentsMember2025-09-300001508655Debt Investments Business Services Artisan Bidco, Inc. Investment First-lien revolving loan ($3,621 par, due 11/2029) Initial Acquisition Date 11/7/2023 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.19%2025-09-300001508655Debt Investments Communications Aurelia Netherlands MidCo 2 B.V. Investment First-lien loan (EUR 32,904 par, due 5/2031) Initial Acquisition Date 05/22/2024 Reference Rate and Spread E + 5.75% Interest Rate 8.93%2024-01-012024-12-310001508655Debt Investments Financial Services GreenShoot BidCo B.V Investment First-lien loan (EUR 5,107 par, due 5/2030) Initial Acquisition Date 05/28/2024 Reference Rate and Spread E + 5.75% Interest Rate 8.66%2024-01-012024-12-310001508655us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMembersrt:MinimumMemberus-gaap:IncomeApproachValuationTechniqueMembertslx:MezzanineDebtInvestmentsMember2025-09-3000015086552024-06-300001508655Debt Investments Retail and Consumer Products Acosta First-lien loan ($10,000 par, due 8/2031) Initial Acquisition Date 8/20/2024 Reference Rate and Spread SOFR + 5.60% Interest Rate 10.12%2024-01-012024-12-310001508655tslx:InterestRateSwapTwoMember2025-09-300001508655tslx:StructuredCreditInvestmentsMember2024-01-012024-12-310001508655Debt Investments Retail and Consumer Products American Achievement, Corp. First-lien loan ($26,864 par, due 9/2026) Initial Acquisition Date 9/30/2015 Reference Rate and Spread SOFR + 7.35% Interest Rate 11.90% (incl. 11.40% PIK)2024-12-310001508655Equity and Other Investments Communications IntelePeer Holdings, Inc. Series C Preferred Shares (1,816,295 shares) Initial Acquisition Date 4/8/20212025-09-300001508655us-gaap:CommonStockMember2023-12-310001508655tslx:MezzanineDebtInvestmentsMember2023-12-310001508655Debt Investments Pharmaceuticals Apellis Pharmaceuticals, Inc. First-lien loan ($19,737 par, due 5/2030) Initial Acquisition Date 5/13/2024 Reference Rate and Spread SOFR + 5.75% Interest Rate 10.08%2024-12-310001508655us-gaap:CommonStockMember2025-03-310001508655us-gaap:FairValueInputsLevel3Membertslx:SecondLienDebtInvestmentsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMembersrt:MaximumMember2025-09-300001508655Debt Investments Financial Services TradingScreen, Inc. Investment First-lien revolving loan ($899 par, due 5/2027) Initial Acquisition Date 11/1/2024 Reference Rate and Spread P + 5.25% Interest Rate 12.50%2025-01-012025-09-300001508655tslx:EducationMembertslx:EquityAndOtherInvestmentsMember2025-09-3000015086552024-12-310001508655us-gaap:UnfundedLoanCommitmentMember2024-12-310001508655Debt Investments Financial Services Alaska Bidco Oy Investment First-lien loan (EUR 727 par, due 5/2030) Initial Acquisition Date 05/30/2023 Reference Rate and Spread E + 5.75% Interest Rate 8.51%2024-12-310001508655Hedge Accounting Swaps2024-01-012024-12-310001508655us-gaap:HealthcareSectorMember2025-09-300001508655Other Investments Riverbank Park CLO Ltd, Series 2024 -1A Structured Credit ($4,500 par, due 1/2038) Initial Acquisition Date 7/29/2025 Reference Rate and Spread SOFR + 4.80% Interest Rate 9.12%2025-09-300001508655Debt Investments Hotel, Gaming and Leisure IRGSE Holding Corp. First-lien loan ($30,261 par, due 6/2025) Initial Acquisition Date 12/21/2018 Reference Rate and Spread SOFR + 9.65% Interest Rate 13.98%2024-12-310001508655Debt Investments Retail and Consumer Products Tango Management Consulting, LLC First-lien loan ($69,218 par, due 12/2027) Initial Acquisition Date 12/1/2021 Reference Rate and Spread SOFR + 6.90% Interest Rate 11.56%2024-12-310001508655tslx:InterestRateSwapThreeMember2024-07-012024-09-300001508655tslx:TwoThousandTwentySixNotesMember2024-01-012024-12-310001508655Other Investments Birch Grove CLO Ltd, Series 2025-14A Investment Structured Credit ($1,250 par, due 7/2037) Initial Acquisition Date 9/2/2025 Reference Rate and Spread SOFR + 6.65% Interest Rate 10.98%2025-09-300001508655tslx:BusinessServicesMemberus-gaap:DebtSecuritiesMember2025-09-300001508655Debt Investments Internet Services Hippo XPA Bidco AB Investment First-lien loan (EUR 2,537 par, due 2/2031) Initial Acquisition Date 2/20/2024 Reference Rate and Spread E + 6.50% Interest Rate 8.56% (incl. 3.50% PIK)2025-01-012025-09-300001508655Equity and Other Investments Internet Services SMA Technologies Holdings, LLC Class B Units (1,124,813 units) Initial Acquisition Date 11/21/20222024-01-012024-12-310001508655Debt Investments Internet Services Bayshore Intermediate #2, L.P. First-lien loan ($40,663 par, due 10/2028) Initial Acquisition Date 10/1/2021 Reference Rate and Spread SOFR + 6.25% Interest Rate 10.77% (incl. 3.38% PIK)2024-12-310001508655Debt Investments Human Resource Support Services Employment Hero Holdings Pty Ltd. Investment First-lien loan (AUD 60,000 par, due 12/2026) Initial Acquisition Date 12/6/2021 Reference Rate and Spread B + 6.25% Interest Rate 9.90%2025-01-012025-09-300001508655Equity and Other Investments Communications IntelePeer Holdings, Inc. Series D Preferred Shares (1,598,874 shares) Initial Acquisition Date 4/8/20212025-01-012025-09-300001508655Debt Investments Human Resource Support Services PayScale Holdings, Inc. Investment First-lien loan ($69,916 par, due 5/2027) Initial Acquisition Date 5/3/2019 Reference Rate and Spread SOFR + 5.85% Interest Rate 9.85%2025-01-012025-09-300001508655tslx:TwoThousandTwentyFourNotesMember2025-01-012025-09-300001508655Debt Investments Pharmaceuticals Elysium BidCo Limited First-lien loan (GBP 9,953 par, due 6/2030) Initial Acquisition Date 12/11/2024 Reference Rate and Spread S + 7.25% Interest Rate 11.95%2024-12-310001508655Debt Investments Electronics Sapphire Software Buyer, Inc. Investment First-lien loan ($26,962 par, due 9/2031) Initial Acquisition Date 09/30/2024 Reference Rate and Spread SOFR + 5.50% Interest Rate 9.75% (incl. 3.0% PIK)2024-12-310001508655tslx:InvestmentAdvisoryAgreementMember2011-04-152011-04-150001508655Debt Investments Retail and Consumer Products Bed Bath and Beyond Inc. Roll Up DIP term loan ($24,502 par) Initial Acquisition Date 4/24/2023 Reference Rate and Spread SOFR + 7.90% Interest Rate 12.06% PIK2025-09-300001508655us-gaap:TreasuryStockCommonMember2025-09-300001508655Debt Investments Hotel, Gaming and Leisure Equinox Holdings, Inc. Second-lien loan ($2,347 par, due 6/2027) Initial Acquisition Date 3/13/2024 Reference Rate and Spread 16.00% Interest Rate 16.00% PIK2024-01-012024-12-310001508655Debt Investments Business Services Dye & Durham Corp. Investment First-lien loan ($955 par, due 4/2031) Initial Acquisition Date 04/04/2024 Reference Rate and Spread SOFR + 4.10% Interest Rate 8.43%2024-01-012024-12-310001508655Debt Investments Financial Services CLGF Holdco 2, LLC Investment First-lien loan ($3,916 par, due 11/2027) Initial Acquisition Date 11/07/2023 Reference Rate and Spread SOFR + 8.50% Interest Rate 12.83%2024-01-012024-12-310001508655tslx:DelayedDrawMembertslx:LeantaasHoldingsIncMember2025-09-300001508655us-gaap:TreasuryStockCommonMember2025-06-300001508655tslx:EquityAndOtherInvestmentsMember2024-01-012024-12-310001508655tslx:EquityAndOtherInvestmentsMember2024-07-012024-09-300001508655tslx:O2024Q3SupplementalDividendsMember2024-07-312024-07-310001508655tslx:PharmaceuticalsMemberus-gaap:DebtSecuritiesMember2025-09-300001508655Other Investments Carlyle US CLO Ltd, Series 2021 -1A Structured Credit ($3,225 par, due 1/2040) Initial Acquisition Date 8/7/2025 Reference Rate and Spread SOFR + 7.30% Interest Rate 11.62%2025-01-012025-09-300001508655Equity and Other Investments Healthcare Merative Topco L.P. Class A-1 Units (989,691 units) Initial Acquisition Date 6/30/20222024-12-310001508655Equity and Other Investments Financial Services TradingScreen, Inc. Class AA Units (19,093 units) Initial Acquisition Date 11/1/2024 Reference Rate and Spread 20.00% Interest Rate 20.00%2024-01-012024-12-310001508655Equity and Other Investments Internet Services Piano Software, Inc. Series C-2 Preferred Shares (27,588 shares) Initial Acquisition Date 11/18/20222025-09-300001508655Equity and Other Investments Human Resource Support Services Axonify, Inc. Class A-1 Units (3,780,000 units) Initial Acquisition Date 5/5/20212024-01-012024-12-310001508655tslx:EquityAndOtherInvestmentsMembertslx:HumanResourceSupportServicesMember2024-12-310001508655tslx:DelayedDrawAndRevolverMembertslx:LynxBidcoMember2024-12-310001508655us-gaap:HealthcareSectorMembertslx:EquityAndOtherInvestmentsMember2025-09-300001508655Equity and Other Investments Communications IntelePeer Holdings, Inc. Series D Preferred Shares (1,598,874 shares) Initial Acquisition Date 4/8/20212025-09-300001508655tslx:InternetServicesMembertslx:EquityAndOtherInvestmentsMember2025-09-300001508655Debt Investments Financial Services Ibis Intermediate Co. Investment First-lien loan ($1,185 par, due 5/2027) Initial Acquisition Date 05/28/2021 Reference Rate and Spread SOFR + 4.65% Interest Rate 9.16%2024-12-310001508655Equity and Other Investments Oil, Gas and Consumable Fuels TRP Assets, LLC Partnership Interest (1.89% ownership) Initial Acquisition Date 8/25/20222024-01-012024-12-310001508655Debt Investments Internet Services SMA Technologies Holdings, LLC First-lien loan ($53,991 par, due 10/2028) Initial Acquisition Date 10/31/2022 Reference Rate and Spread SOFR + 6.50% Interest Rate 11.01%2024-12-310001508655tslx:DelayedDrawAndRevolverMembertslx:AlphaMidcoIncMember2025-09-300001508655Equity and Other Investments Internet Services Bayshore Intermediate #2, L.P. Co-Invest 2 Common Units (3,493,701 units) Initial Acquisition Date 10/1/20212025-09-300001508655Debt Investments Healthcare Raptor US Buyer II Corp. Investment First-lien loan ($17,995 par, due 3/2029) Initial Acquisition Date 3/24/2023 Reference Rate and Spread SOFR + 6.25% Interest Rate 10.41%2025-09-300001508655us-gaap:RetainedEarningsMember2025-09-300001508655Debt Investments Other Omnigo Software, LLC First-lien loan ($39,533 par, due 3/2027) Initial Acquisition Date 3/31/2021 Reference Rate and Spread SOFR + 5.50% Interest Rate 9.86%2024-01-012024-12-310001508655Debt Investments Hotel, Gaming and Leisure Sport Alliance GmbH Investment First-lien revolving loan (EUR 208 par, due 4/2030) Initial Acquisition Date 4/10/2024 Reference Rate and Spread E + 7.25% Interest Rate 9.25%2025-09-300001508655us-gaap:RetainedEarningsMember2024-01-012024-03-310001508655us-gaap:RetainedEarningsMember2024-06-300001508655us-gaap:InterestRateSwapMembertslx:TwoThousandTwentyNineNotesMember2024-07-012024-09-300001508655Equity and Other Investments Human Resource Support Services DaySmart Holdings, LLC Class A Units (166,811 units) Initial Acquisition Date 12/18/20202025-01-012025-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:SecondLienDebtInvestmentsMember2025-01-012025-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:FirstLienDebtInvestmentsMembertslx:AssetValuationWaterfallMember2025-09-300001508655tslx:InterestRateSwapThreeMember2025-09-300001508655us-gaap:HealthcareSectorMembertslx:EquityAndOtherInvestmentsMember2024-12-310001508655us-gaap:TreasuryStockCommonMember2024-12-310001508655Equity and Other Investments Marketing Services Validity, Inc. Series A Preferred Shares (3,840,000 shares) Initial Acquisition Date 5/31/20182024-01-012024-12-310001508655us-gaap:TreasuryStockCommonMember2023-12-310001508655Debt Investments Retail and Consumer Products Neuintel, LLC First-lien loan ($54,204 par, due 12/2026) Initial Acquisition Date 12/20/2021 Reference Rate and Spread SOFR + 6.85% Interest Rate 11.01%2025-09-300001508655tslx:DiscoParentIncMembertslx:RevolverMember2024-12-310001508655Equity and Other Investments Internet Services Bayshore Intermediate #2, L.P. Co-Invest Common Units (8,837,008 units) Initial Acquisition Date 10/1/20212024-12-310001508655Equity and Other Investments Oil, Gas and Consumable Fuels TRP Assets, LLC Partnership Interest (1.89% ownership) Initial Acquisition Date 8/25/20222025-01-012025-09-300001508655tslx:DelayedDrawMembertslx:KangarooBidcoASMember2025-09-300001508655Debt Investments Human Resource Support Services Madcap Software, Inc. Investment First-lien loan ($31,931 par, due 12/2026) Initial Acquisition Date 12/15/2023 Reference Rate and Spread SOFR + 6.10% Interest Rate 10.10%2025-01-012025-09-300001508655Equity and Other Investments Transportation RailTrac Holdings Inc. Warrants (3,059 warrants) Initial Acquisition Date 1/27/2025Equity and Other Investments Transportation RailTrac Holdings Inc. Warrants (3,059 warrants) Initial Acquisition Date 1/27/20252025-01-012025-09-300001508655Debt Investments Human Resource Support Services PrimePay Intermediate, LLC First-lien loan ($34,025 par, due 12/2026) Initial Acquisition Date 12/17/2021 Reference Rate and Spread SOFR + 7.15% Interest Rate 11.63%2024-01-012024-12-310001508655Interest Rate Swap Company Receives 6.125% Company Pays SOFR + 2.44% Maturity Date 3/1/20292024-12-310001508655Debt Investments Business Services Lynx BidCo Investment First-lien loan (EUR 597 par, due 7/2031) Initial Acquisition Date 07/05/2024 Reference Rate and Spread E + 7.11% Interest Rate 10.38% (incl. 5.61% PIK)2024-01-012024-12-310001508655Debt Investments Human Resource Support Services bswift, LLC First-lien loan ($43,910 par, due 11/2028) Initial Acquisition Date 11/7/2022 Reference Rate and Spread SOFR + 6.38% Interest Rate 11.05%2024-12-310001508655Debt Investments Manufacturing Varinem German BidCo GMBH First-lien loan (EUR 4,392 par, due 7/2031) Initial Acquisition Date 7/11/2024 Reference Rate and Spread E + 4.75% Interest Rate 6.82%2025-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:FirstLienDebtInvestmentsMember2025-01-012025-09-300001508655Interest Rate Swap Company Pays SOFR + 2.99% Maturity Date 8/14/20282024-12-310001508655Debt Investments Retail and Consumer Products Tango Management Consulting, LLC First-lien loan ($49,169 par, due 6/2031) Initial Acquisition Date 6/25/2025 Reference Rate and Spread SOFR + 6.50% Interest Rate 10.50%2025-09-300001508655Other Investments CIFC Funding Ltd, Series 2021 -2A Structured Credit ($1,000 par, due 4/2034) Initial Acquisition Date 7/17/2025 Reference Rate and Spread SOFR + 6.46% Interest Rate 10.78%2025-01-012025-09-300001508655Equity and Other Investments Financial Services AF Eagle Parent, L.P. Partnership Units (121,329 units) Initial Acquisition Date 11/27/20232024-12-310001508655tslx:TwoThousandTwentySixNotesMember2024-12-310001508655us-gaap:CommonStockMember2024-04-012024-06-300001508655Other Investments Ares CLO Ltd, Series 2022-63A Investment Structured Credit ($2,500 par, due 10/2038) Initial Acquisition Date 8/7/2025 Reference Rate and Spread SOFR + 6.00% Interest Rate 10.28%2025-01-012025-09-300001508655Equity and Other Investments Communications IntelePeer Holdings, Inc. Series C Preferred Shares (1,816,295 shares) Initial Acquisition Date 4/8/20212024-12-310001508655tslx:SMATechnologiesHoldingsLLCMembertslx:RevolverMember2025-09-300001508655us-gaap:FairValueInputsLevel3Member2025-01-012025-09-300001508655Debt Investments Business Services Galileo Parent, Inc. Investment First-lien loan ($64,093 par, due 5/2030) Initial Acquisition Date 05/03/2023 Reference Rate and Spread SOFR + 5.75% Interest Rate 10.08%2024-12-310001508655Debt Investments Oil, Gas and Consumable Fuels Laramie Energy, LLC First-lien loan ($27,317 par, due 2/2027) Initial Acquisition Date 2/21/2023 Reference Rate and Spread SOFR + 7.10% Interest Rate 11.26%2025-01-012025-09-3000015086552024-01-012024-03-310001508655tslx:RevolverMembertslx:HirevueIncMember2024-12-310001508655us-gaap:FairValueInputsLevel3Membertslx:FirstLienDebtInvestmentsMembersrt:MinimumMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMember2024-12-310001508655tslx:EquityAndOtherInvestmentsMembertslx:RetailAndConsumerProductsMember2025-09-300001508655Debt Investments Healthcare Eventus Buyer, LLC Investment First-lien revolving loan ($467 par, due 11/2030) Initial Acquisition Date 11/1/2024 Reference Rate and Spread SOFR + 5.50% Interest Rate 10.03%2024-01-012024-12-310001508655Debt Investments Financial Services BCTO Bluebill Buyer, Inc. Investment First-lien loan ($29,532 par, due 7/2029) Initial Acquisition Date 07/20/2023 Reference Rate and Spread SOFR + 6.25% Interest Rate 10.84%2024-01-012024-12-310001508655country:DE2025-09-300001508655tslx:SecondLienDebtInvestmentsMemberus-gaap:FairValueInputsLevel2Member2025-09-300001508655tslx:TwoThousandTwentyFourNotesMember2020-02-290001508655Debt Investments Business Services Galileo Parent, Inc. Investment First-lien revolving loan ($4,615 par, due 5/2030 Initial Acquisition Date 5/3/2023 Reference Rate and Spread SOFR + 5.75% Interest Rate 10.08%2024-12-310001508655Debt Investments Internet Services Hippo XPA Bidco AB First-lien loan (SEK 80,225 par, due 2/2031) Initial Acquisition Date 2/20/2024 Reference Rate and Spread STIBOR + 6.50% Interest Rate 9.16% (incl. 3.50% PIK)2024-01-012024-12-310001508655us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMembertslx:MezzanineDebtInvestmentsMember2025-09-300001508655Debt Investments Electronics Sapphire Software Buyer, Inc. Investment First-lien loan ($27,030 par, due 9/2031) Initial Acquisition Date 9/30/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 8.87%2025-09-300001508655Equity and Other Investments Internet Services Lucidworks, Inc. Series F Preferred Shares (199,054 shares) Initial Acquisition Date 8/2/20192024-12-310001508655Debt Investments Healthcare HMP Omnimedia, LLC Investment First-lien loan ($19,773 par, due 7/2032) Initial Acquisition Date 7/31/2025 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.41%2025-01-012025-09-300001508655Debt Investments Retail and Consumer Products Bed Bath and Beyond Inc. Roll Up DIP term loan ($24,924 par) Initial Acquisition Date 4/24/2023 Reference Rate and Spread SOFR + 7.90% Interest Rate 12.26% PIK2024-12-310001508655tslx:DelayedDrawMembertslx:RainFocusLLCMember2025-09-300001508655country:NL2025-09-300001508655Debt Investments Human Resource Support Services HireVue, Inc. Investment First-lien loan ($53,166 par, due 5/2029) Initial Acquisition Date 5/3/2023 Reference Rate and Spread SOFR + 6.75% Interest Rate 11.06%2025-09-300001508655tslx:InterestRateSwapTwoMember2024-07-012024-09-300001508655Debt Investments Hotel, Gaming and Leisure ASG II, LLC Investment First-lien loan ($65,000 par, due 5/2028) Initial Acquisition Date 5/25/2022 Reference Rate and Spread SOFR + 6.40% Interest Rate 10.71%2025-01-012025-09-300001508655Debt Investments Oil, Gas and Consumable Fuels Laramie Energy, LLC First-lien loan ($27,317 par, due 2/2027) Initial Acquisition Date 2/21/2023 Reference Rate and Spread SOFR + 7.10% Interest Rate 11.46%2024-01-012024-12-310001508655us-gaap:RevolvingCreditFacilityMember2024-12-310001508655Equity and Other Investments Communications IntelePeer Holdings, Inc. Series D Warrants (106,592 warrants) Initial Acquisition Date 4/8/20212024-12-310001508655Debt Investments Business Services USA DeBusk, LLC Investment First-lien loan ($6,899 par, due 4/2031) Initial Acquisition Date 04/30/2024 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.62%2024-12-310001508655Debt Investments Transportation Marcura Equities LTD First-lien revolving loan ($1,667 par, due 8/2029) Initial Acquisition Date 8/11/2023 Reference Rate and Spread SOFR + 7.50% Interest Rate 11.50%2025-01-012025-09-300001508655us-gaap:FairValueInputsLevel3Member2024-12-310001508655Debt Investments Communications Babylon Finco Limited Investment First-lien loan ($1,557 par, due 1/2031) Initial Acquisition Date 01/26/2024 Reference Rate and Spread SOFR + 5.75% Interest Rate 10.37%2024-12-310001508655Debt Investments Financial Services Ibis US Blocker Co. Investment First-lien loan ($20,238 par, due 5/2028) Initial Acquisition Date 5/28/2021 Reference Rate and Spread SOFR + 9.50% Interest Rate 13.70% PIK2025-09-300001508655Debt Investments Healthcare BCTO Ace Purchaser, Inc. Investment Second-lien loan ($6,596 par, due 1/2030) Initial Acquisition Date 01/23/2023 Reference Rate and Spread SOFR + 10.70% Interest Rate 15.33% PIK2024-12-310001508655Debt Investments Business Services Lynx BidCo Investment First-lien loan (EUR 23,603 par, due 7/2031) Initial Acquisition Date 7/5/2024 Reference Rate and Spread E + 6.50% Interest Rate 8.50%2025-09-300001508655Equity and Other Investments Communications IntelePeer Holdings, Inc. Series D Preferred Shares (1,598,874 shares) Initial Acquisition Date 4/8/20212024-01-012024-12-310001508655Other Investments CIFC Funding Ltd, Series 2020 -4A Structured Credit ($4,000 par, due 1/2040) Initial Acquisition Date 7/29/2025 Reference Rate and Spread SOFR + 4.90% Interest Rate 9.22%2025-01-012025-09-300001508655IRGSE Holding Corp2024-12-310001508655Debt Investments Human Resource Support Services bswift, LLC First-lien loan ($43,910 par, due 11/2028) Initial Acquisition Date 11/7/2022 Reference Rate and Spread SOFR + 6.38% Interest Rate 11.05%2024-01-012024-12-310001508655Debt Investments Other Omnigo Software, LLC First-lien loan ($39,225 par, due 3/2027) Initial Acquisition Date 3/31/2021 Reference Rate and Spread SOFR + 5.50% Interest Rate 9.66%2025-01-012025-09-300001508655tslx:FirstLienDebtInvestmentsMember2024-01-012024-12-310001508655Debt Investments Retail and Consumer Products Belk, Inc. First-lien loan ($47,500 par, due 7/2029) Initial Acquisition Date 7/22/2024 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.20%2025-01-012025-09-300001508655Equity and Other Investments Healthcare Caris Life Sciences, Inc. Common Shares (1,210,369 shares) Initial Acquisition Date 10/13/20202025-01-012025-09-300001508655Debt Investments Retail and Consumer Products American Achievement, Corp. Subordinated note ($4,740 par, due 9/2026) Initial Acquisition Date 3/16/2021 Reference Rate and Spread SOFR + 1.15% Interest Rate 5.44%2025-01-012025-09-300001508655Debt Investments Financial Services BCTO Bluebill Buyer, Inc. Investment First-lien loan ($29,532 par, due 7/2029) Initial Acquisition Date 07/20/2023 Reference Rate and Spread SOFR + 6.25% Interest Rate 10.84%2024-12-310001508655Debt Investments Education EMS Linq, Inc. Investment First-lien loan ($56,216 par, due 12/2027) Initial Acquisition Date 12/22/2021 Reference Rate and Spread SOFR + 6.35% Interest Rate 10.55%2025-01-012025-09-300001508655Equity and Other Investments Internet Services Bigtincan Holdings L.P. Class A Units (2,333,333 Units) Initial Acquisition Date 4/16/20252025-09-300001508655Equity and Other Investments Business Services Warrior TopCo LP Class A Units (423,729 units) Initial Acquisition Date 7/7/20232024-01-012024-12-310001508655tslx:O2024Q3SupplementalDividendsMember2024-07-310001508655us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Membertslx:EquityAndOtherInvestmentsMember2025-09-300001508655tslx:HotelGamingAndLeisureMember2024-12-310001508655Debt Investments Manufacturing ASP Unifrax Holdings, Inc. First-lien loan ($3,449 par, due 9/2029) Initial Acquisition Date 9/30/2024 Reference Rate and Spread SOFR + 7.75% Interest Rate 12.08% (incl. 4.75% PIK)2024-12-310001508655Equity and Other Investments Human Resource Support Services Axonify, Inc. Class A-1 Units (3,780,000 units) Initial Acquisition Date 5/5/20212025-09-300001508655Debt Investments Retail and Consumer Products Tango Management Consulting, LLC First-lien loan ($69,218 par, due 12/2027) Initial Acquisition Date 12/1/2021 Reference Rate and Spread SOFR + 6.90% Interest Rate 11.56%2024-01-012024-12-310001508655tslx:DelayedDrawMembertslx:BenNevisMidcoLimitedMember2024-12-310001508655Equity and Other Investments Financial Services Newport Parent Holdings, L.P. Class A-2 Units (131,569 units) Initial Acquisition Date 12/10/20202025-01-012025-09-300001508655tslx:InterestRateSwapFiveMember2024-09-300001508655tslx:GalileoParentincMembertslx:RevolverMember2025-09-300001508655country:FI2025-09-300001508655Debt Investments Retail and Consumer Products Blazing Star Parent, LLC First-lien loan ($70,000 par, due 8/2030) Initial Acquisition Date 8/28/2025 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.20%2025-09-300001508655us-gaap:AdditionalPaidInCapitalMember2024-12-310001508655Equity and Other Investments Communications Celtra Technologies, Inc. Class A Units (1,250,000 units) Initial Acquisition Date 11/19/20212025-01-012025-09-300001508655Debt Investments Business Services Dye & Durham Corp. Investment First-lien loan ($947 par, due 4/2031) Initial Acquisition Date 4/4/2024 Reference Rate and Spread SOFR + 4.35% Interest Rate 8.35%2025-09-300001508655Equity and Other Investments Internet Services Bayshore Intermediate #2, L.P. Co-Invest Common Units (8,837,008 units) Initial Acquisition Date 10/1/20212025-01-012025-09-300001508655tslx:MezzanineDebtInvestmentsMember2025-07-012025-09-300001508655Debt Investments Transportation Shiftmove GMBH First-lien loan (EUR 31,875 par, due 9/2030) Initial Acquisition Date 9/30/2024 Reference Rate and Spread E + 6.00% Interest Rate 8.68%2024-12-310001508655Debt Investments Transportation Rail Acquisitions LLC Second-lien note ($20,696 par, due 1/2031) Initial Acquisition Date 1/27/2025 Reference Rate and Spread 13.75% Interest Rate 13.75% PIK2025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:CordanceOperationsLlcMember2025-09-300001508655tslx:TradingScreenIncMembertslx:RevolverMember2025-09-300001508655Debt Investments Healthcare Velocity Clinical Research, Inc. Investment First-lien loan ($62,028 par, due 9/2031) Initial Acquisition Date 9/9/2025 Reference Rate and Spread SOFR + 7.50% Interest Rate 11.50%2025-01-012025-09-300001508655us-gaap:InterestRateSwapMembertslx:TwoThousandTwentyFourNotesMember2024-07-012024-09-300001508655Debt Investments Business Services Azurite Intermediate Holdings, Inc. Investment First-lien loan ($42,750 par, due 3/2031) Initial Acquisition Date 03/19/2024 Reference Rate and Spread SOFR + 6.50% Interest Rate 10.86%2024-12-310001508655Equity and Other Investments Financial Services Oxford Square Capital Corp. Common Shares (1,620 shares) Initial Acquisition Date 8/5/20152024-12-310001508655Debt Investments Communications Banyan Software Holdings, LLC Investment First-lien loan ($39,386 par, due 10/2026) Initial Acquisition Date 01/27/2023 Reference Rate and Spread SOFR + 7.35% Interest Rate 11.71%2024-12-310001508655tslx:TwoThousandThirtyNotesMember2024-12-310001508655Debt Investments Internet Services Merit Software Finance Holdings, LLC First-lien loan ($43,214 par, due 6/2029) Initial Acquisition Date 6/20/2024 Reference Rate and Spread SOFR + 7.50% Interest Rate 11.85%2024-12-310001508655tslx:DelayedDrawAndRevolverMembertslx:HippoXpaBidcoAbMember2024-12-310001508655Other Investments Oaktree CLO Ltd, Series 2022 -2A Structured Credit ($3,500 par, due 10/2037) Initial Acquisition Date 7/17/2025 Reference Rate and Spread SOFR + 6.40% Interest Rate 10.70%2025-01-012025-09-300001508655Equity and Other Investments Retail and Consumer Products American Achievement, Corp. Class A Units (687 units) Initial Acquisition Date 3/16/20212025-01-012025-09-300001508655Debt Investments Human Resource Support Services Axonify, Inc. First-lien loan ($44,419 par, due 5/2026) Initial Acquisition Date 5/5/2021 Reference Rate and Spread SOFR + 7.65% Interest Rate 12.20%2024-12-310001508655Debt Investments Healthcare Eventus Buyer, LLC Investment First-lien revolving loan ($1,867 par, due 11/2030) Initial Acquisition Date 11/1/2024 Reference Rate and Spread SOFR + 5.50% Interest Rate 9.50%2025-09-300001508655country:SE2024-12-310001508655Debt Investments Chemicals Erling Lux Bidco SARL Investment First-lien loan (GBP 19,592 par, due 9/2028) Initial Acquisition Date 9/6/2022 Reference Rate and Spread S + 7.00% Interest Rate 10.97%2025-09-300001508655Debt Investments Education EMS Linq, Inc. Investment First-lien loan ($56,216 par, due 12/2027) Initial Acquisition Date 12/22/2021 Reference Rate and Spread SOFR + 6.35% Interest Rate 10.86%2024-01-012024-12-310001508655Debt Investments Retail and Consumer Products Acosta First-lien loan ($10,000 par, due 8/2031) Initial Acquisition Date 8/20/2024 Reference Rate and Spread SOFR + 5.60% Interest Rate 10.12%2024-12-310001508655Debt Investments Internet Services CrunchTime Information, Systems, Inc. First-lien loan ($58,898 par, due 6/2028) Initial Acquisition Date 6/17/2022 Reference Rate and Spread SOFR + 5.75% Interest Rate 10.11%2024-12-310001508655Debt Investments Communications X Holdings Inc. Investment First-lien loan ($988 par, due 10/2029) Initial Acquisition Date 4/28/2025 Reference Rate and Spread 9.50% Interest Rate 9.50%2025-09-300001508655Debt Investments Pharmaceuticals Elysium BidCo Limited First-lien loan (EUR 17,985 par, due 12/2030) Initial Acquisition Date 12/11/2024 Reference Rate and Spread E + 7.25% Interest Rate 10.07%2024-01-012024-12-310001508655Debt Investments Manufacturing Aptean, Inc. First-lien loan ($8,835 par, due 1/2031) Initial Acquisition Date 1/30/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.58%2024-01-012024-12-310001508655country:GB2025-09-300001508655tslx:ChemicalsMember2024-12-310001508655tslx:DelayedDrawAndRevolverMembertslx:AlaskaBidcoOyMember2025-09-300001508655tslx:RevolverMembertslx:HirevueIncMember2025-09-300001508655us-gaap:AdditionalPaidInCapitalMember2024-01-012024-03-310001508655us-gaap:RevolvingCreditFacilityMember2025-09-300001508655tslx:PharmaceuticalsMembertslx:EquityAndOtherInvestmentsMember2025-09-300001508655Debt Investments Manufacturing Skylark UK DebtCo Limited First-lien loan (GBP 16,640 par, due 9/2030) Initial Acquisition Date 9/7/2023 Reference Rate and Spread S + 5.66% Interest Rate 10.36%2024-12-310001508655tslx:BusinessServicesMembertslx:EquityAndOtherInvestmentsMember2024-12-310001508655tslx:InterestRateSwapFourMember2024-09-300001508655Debt Investments Human Resource Support Services PrimePay Intermediate, LLC First-lien loan ($34,025 par, due 12/2026) Initial Acquisition Date 12/17/2021 Reference Rate and Spread SOFR + 7.15% Interest Rate 11.63%2024-12-310001508655Hedge Accounting Swaps2024-12-310001508655Equity and Other Investments Education EMS Linq, Inc. Class B Units (5,522,526 units) Initial Acquisition Date 12/22/20212024-12-310001508655Other Investments Ares CLO Ltd, Series 2022-64A Investment Structured Credit ($2,000 par, due 10/2039) Initial Acquisition Date 9/4/2025 Reference Rate and Spread SOFR + 6.50% Interest Rate 10.82%2025-09-300001508655Debt Investments Financial Services Passport Labs, Inc. Investment First-lien loan ($24,995, par, due 4/2026) Initial Acquisition Date 04/28/2021 Reference Rate and Spread SOFR + 8.40% Interest Rate 12.91%2024-01-012024-12-310001508655Debt Investments Hotel, Gaming and Leisure ASG II, LLC First-lien loan ($65,000 par, due 5/2028) Initial Acquisition Date 5/25/2022 Reference Rate and Spread SOFR + 6.40% Interest Rate 10.99%2024-12-310001508655Debt Investments Financial Services Ibis US Blocker Co. Investment First-lien loan ($18,290 par, due 5/2028) Initial Acquisition Date 05/28/2021 Reference Rate and Spread SOFR + 8.40% Interest Rate 12.91% PIK2024-12-310001508655tslx:DelayedDrawMembertslx:BanyanSoftwareHoldingsLlcMember2024-12-310001508655Debt Investments Business Services Elements Finco Limited Investment First-lien loan (GBP 10,275 par, due 4/2031) Initial Acquisition Date 04/29/2024 Reference Rate and Spread S + 5.25% Interest Rate 9.95% (incl. 2.25% PIK2024-01-012024-12-310001508655Equity and Other Investments Human Resource Support Services bswift, LLC Class A-1 Units (2,393,509 units) Initial Acquisition Date 11/7/20222024-01-012024-12-310001508655Debt Investments Pharmaceuticals Elysium BidCo Limited First-lien loan (EUR 17,985 par, due 12/2030) Initial Acquisition Date 12/11/2024 Reference Rate and Spread E + 7.25% Interest Rate 10.07%2024-12-310001508655us-gaap:ChemicalsSectorMemberus-gaap:DebtSecuritiesMember2024-12-310001508655Debt Investments Healthcare Ingenovis Health Finance, LLC Investment First-lien revolving loan ($32,500 par, due 5/2030) Initial Acquisition Date 5/13/2025 Reference Rate and Spread SOFR + 6.00% Interest Rate 10.20%2025-09-300001508655tslx:BayshoreIntermediate2LPMembertslx:RevolverMember2025-09-300001508655Equity and Other Investments Healthcare Raptor US Buyer II Corp. Ordinary Shares (13,176 shares) Initial Acquisition Date 3/24/20232025-09-300001508655tslx:TwoThousandTwentyEightNotesMember2023-08-310001508655us-gaap:RealEstateSectorMember2025-09-300001508655tslx:EDBParentLLCMembertslx:DelayedDrawMember2024-12-310001508655Debt Investments Internet Services Merit Software Finance Holdings, LLC First-lien loan ($43,214 par, due 6/2029) Initial Acquisition Date 6/20/2024 Reference Rate and Spread SOFR + 7.50% Interest Rate 11.85%2024-01-012024-12-310001508655tslx:InterestRateSwapThreeMember2025-01-012025-09-300001508655Debt Investments Internet Services Arrow Buyer, Inc. First-lien loan ($34,944 par, due 7/2030) Initial Acquisition Date 6/30/2023 Reference Rate and Spread SOFR + 5.75% Interest Rate 10.08%2024-01-012024-12-310001508655us-gaap:AssetPledgedAsCollateralMember2025-09-300001508655Debt Investments Hotel, Gaming and Leisure IRGSE Holding Corp. First-lien revolving loan ($37,972 par, due 6/2025) Initial Acquisition Date 12/21/2018 Reference Rate and Spread SOFR + 9.65% Interest Rate 14.14%2024-12-310001508655Debt Investments Transportation Marcura Equities LTD First-lien loan ($33,874 par, due 8/2029) Initial Acquisition Date 8/11/2023 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.33%2024-12-310001508655Equity and Other Investments Retail and Consumer Products American Achievement, Corp. Class A Units (687 units) Initial Acquisition Date 3/16/20212024-01-012024-12-310001508655tslx:TwoThousandTwentySixNotesMember2021-02-280001508655tslx:MidwestMember2024-12-310001508655Controlled Affiliated Investments IRGSE Holding Corp.2023-12-310001508655tslx:EdgeBidcoBVMembertslx:DelayedDrawAndRevolverMember2025-09-300001508655tslx:RevolvingCreditFacilityMaturityOnFebruary42026Member2024-04-242024-04-240001508655Debt Investments Retail and Consumer Products Bed Bath and Beyond Inc. Roll Up DIP term loan ($24,502 par) Initial Acquisition Date 4/24/2023 Reference Rate and Spread SOFR + 7.90% Interest Rate 12.06% PIK2025-01-012025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:BCTOAcePurchaserIncMember2024-12-310001508655tslx:NortheastMember2025-09-300001508655Debt Investments Business Services Artisan Bidco, Inc. Investment First-lien loan ($38,830 par, due 11/2029) Initial Acquisition Date 11/07/2023 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.39%2024-01-012024-12-310001508655us-gaap:InterestRateSwapMembertslx:TwoThousandTwentyNineNotesMember2024-01-012024-09-300001508655Debt Investments Human Resource Support Services bswift, LLC Investment First-lien loan ($44,569 par, due 11/2028) Initial Acquisition Date 11/7/2022 Reference Rate and Spread SOFR + 4.75% Interest Rate 9.07%2025-01-012025-09-300001508655us-gaap:CommonStockMember2024-03-050001508655tslx:TwoThousandTwentyNineNotesMember2024-01-012024-12-310001508655tslx:AutomotiveMember2025-09-300001508655tslx:WestMember2025-09-300001508655Equity and Other Investments Business Services Insight Hideaway Aggregator, L.P. Partnership Interest (329,861 units) Initial Acquisition Date 3/19/20242024-01-012024-12-310001508655Debt Investments Manufacturing Skylark UK DebtCo Limited First-lien loan (GBP 643 par, due 9/2030) Initial Acquisition Date 2/20/2025 Reference Rate and Spread S + 5.00% Interest Rate 8.97%2025-01-012025-09-300001508655tslx:HumanResourceSupportServicesMemberus-gaap:DebtSecuritiesMember2025-09-300001508655tslx:HotelGamingAndLeisureMember2025-09-300001508655Equity and Other Investments Education RMCF IV CIV XXXV, LP. Partnership Interest (11.94% ownership) Initial Acquisition Date 6/8/20212024-01-012024-12-310001508655Debt Investments Internet Services Kryptona BidCo US, LLC First-lien loan (EUR 4,608 par, due 12/2031) Initial Acquisition Date 12/18/2024 Reference Rate and Spread E + 5.75% Interest Rate 8.61%2024-12-310001508655country:CA2025-09-300001508655Debt Investments Education Astra Acquisition Corp. Investment Second-lien loan ($40,302 par, due 10/2029) Initial Acquisition Date 10/22/2021 Reference Rate and Spread SOFR + 9.14% Interest Rate 13.47%2024-01-012024-12-310001508655Debt Investments Oil, Gas and Consumable Fuels Mach Natural Resources LP First-lien loan ($4,625 par, due 12/2026) Initial Acquisition Date 12/28/2023 Reference Rate and Spread SOFR + 6.65% Interest Rate 10.98%2024-01-012024-12-310001508655us-gaap:FairValueInputsLevel3Membertslx:FirstLienDebtInvestmentsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMember2025-09-300001508655Debt Investments Healthcare Raptor US Buyer II Corp. Investment First-lien loan ($17,995 par, due 3/2029) Initial Acquisition Date 3/24/2023 Reference Rate and Spread SOFR + 6.25% Interest Rate 10.41%2025-01-012025-09-300001508655Debt Investments Retail and Consumer Products American Achievement, Corp. Subordinated note ($4,740 par, due 9/2026) Initial Acquisition Date 3/16/2021 Reference Rate and Spread SOFR + 1.15% Interest Rate 5.44%2025-09-300001508655Debt Investments Human Resource Support Services HireVue, Inc. Investment First-lien revolving loan ($5,165 par, due 5/2029) Initial Acquisition Date 5/3/2023 Reference Rate and Spread SOFR + 6.75% Interest Rate 10.99%2025-01-012025-09-3000015086552025-04-012025-06-300001508655Other Investments Madison Park Funding Ltd, Series 2025 -72A Structured Credit ($2,500 par, due 7/2038) Initial Acquisition Date 8/18/2025 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.37%2025-01-012025-09-300001508655Other Investments Apidos CLO, Series 2015-23A Investment Structured Credit ($4,000 par, due 10/2038) Initial Acquisition Date 9/3/2025 Reference Rate and Spread SOFR + 5.20% Interest Rate 9.52%2025-01-012025-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:SecondLienDebtInvestmentsMembertslx:AssetValuationWaterfallMember2025-09-300001508655tslx:CommunicationsMember2024-12-310001508655Debt Investments Hotel, Gaming and Leisure IRGSE Holding Corp. First-lien revolving loan ($37,972 par, due 6/2025) Initial Acquisition Date 12/21/2018 Reference Rate and Spread SOFR + 9.65% Interest Rate 14.14%2024-01-012024-12-310001508655Debt Investments Other Sky Bidco S.p.A. First-lien note ($14,085 par, due 10/2031) Initial Acquisition Date 10/29/2024 Reference Rate and Spread SOFR + 5.25% Interest Rate 10.51%2024-12-310001508655us-gaap:InterestRateSwapMembertslx:TwoThousandTwentySixNotesMember2024-07-012024-09-300001508655Interest Rate Swap Company Receives 2.50% Company Pays SOFR + 2.17% Maturity Date 8/1/20262024-12-310001508655Equity and Other Investments Internet Services Piano Software, Inc. Series C-1 Preferred Shares (418,527 shares) Initial Acquisition Date 12/22/20212024-12-310001508655Debt Investments Healthcare SL Buyer Corp. Investment First-lien loan ($33,416 par, due 7/2029) Initial Acquisition Date 07/07/2023 Reference Rate and Spread SOFR + 7.75% Interest Rate 12.34%2024-12-310001508655us-gaap:FairValueInputsLevel3Membertslx:FirstLienDebtInvestmentsMembertslx:AssetValuationWaterfallMember2024-12-310001508655tslx:RaptorUsBuyerIiCorpMembertslx:RevolverMember2025-09-300001508655tslx:InvestmentAdvisoryAgreementMembertslx:CapitalGainsAccrueFollowingMarchThirtyFirstTwoThousandFourteenMember2011-04-152011-04-150001508655Debt Investments Healthcare Eventus Buyer, LLC Investment First-lien loan ($25,771 par, due 11/2030) Initial Acquisition Date 11/1/2024 Reference Rate and Spread SOFR + 5.50% Interest Rate 9.50%2025-09-300001508655Equity and Other Investments Financial Services Oxford Square Capital Corp. Common Shares (1,620 shares) Initial Acquisition Date 8/5/20152025-01-012025-09-300001508655us-gaap:DebtSecuritiesMembertslx:RetailAndConsumerProductsMember2025-09-300001508655Equity and Other Investments Business Services Warrior TopCo LP Class A Units (423,729 units) Initial Acquisition Date 7/7/20232025-01-012025-09-300001508655Debt Investments Business Services ExtraHop Networks, Inc. Investment First-lien loan ($74,616 par, due 7/2027) Initial Acquisition Date 07/22/2021 Reference Rate and Spread SOFR + 7.60% Interest Rate 11.96%2024-01-012024-12-310001508655tslx:MezzanineDebtInvestmentsMember2024-01-012024-12-310001508655Interest Rate Swap Company Receives 6.125% Company Pays SOFR + 2.44% Maturity Date 3/1/20292025-01-012025-09-300001508655Debt Investments Internet Services Bayshore Intermediate #2, L.P. Investment First-lien revolving loan ($902 par, due 10/2027) Initial Acquisition Date 10/1/2021 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.00%2025-09-300001508655tslx:OilGasAndConsumableFuelsMember2025-09-300001508655us-gaap:UnfundedLoanCommitmentMember2025-09-300001508655tslx:HumanResourceSupportServicesMember2025-09-3000015086552024-03-052024-03-050001508655Equity and Other Investments Internet Services SMA Technologies Holdings, LLC Class A Units (1,584 units) Initial Acquisition Date 11/21/20222025-01-012025-09-300001508655Equity and Other Investments Pharmaceuticals TherapeuticsMD, Inc. Warrants (14,256 warrants) Initial Acquisition Date 8/5/20202024-12-310001508655tslx:MidwestMember2025-09-300001508655us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMembertslx:MezzanineDebtInvestmentsMember2025-09-300001508655Interest Rate Swap Company Receives 5.625% Company Pays SOFR + 1.53% Maturity Date 8/15/20302025-09-300001508655tslx:DelayedDrawMembertslx:LeantaasHoldingsIncMember2024-12-3100015086552025-03-310001508655tslx:EquityAndOtherInvestmentsMember2025-01-012025-09-300001508655us-gaap:InterestRateSwapMembertslx:TwoThousandTwentyEightNotesMember2024-07-012024-09-300001508655tslx:O2025Q3BaseDividendsMember2025-07-302025-07-300001508655tslx:TwoThousandThirtyNotesMember2025-02-280001508655tslx:AdministrationAgreementMemberus-gaap:GeneralAndAdministrativeExpenseMembertslx:AdviserMember2024-01-012024-09-300001508655Equity and Other Investments Pharmaceuticals TherapeuticsMD, Inc. Warrants (14,256 warrants) Initial Acquisition Date 8/5/20202024-01-012024-12-310001508655tslx:IngenovisHealthFinanceLLCMembertslx:RevolverMember2025-09-300001508655us-gaap:InterestRateSwapMembertslx:TwoThousandAndThirtyNotesMember2025-07-012025-09-300001508655Debt Investments Internet Services Merit Software Finance Holdings, LLC First-lien loan ($61,071 par, due 6/2029) Initial Acquisition Date 6/20/2024 Reference Rate and Spread SOFR + 7.50% Interest Rate 11.69%2025-09-300001508655Debt Investments Retail and Consumer Products Cordance Operations, LLC First-lien loan ($63,878 par, due 7/2028) Initial Acquisition Date 7/25/2022 Reference Rate and Spread SOFR + 8.65% Interest Rate 12.85%2025-01-012025-09-300001508655Debt Investments Pharmaceuticals Elysium BidCo Limited First-lien loan (EUR 17,985 par, due 12/2030) Initial Acquisition Date 12/11/2024 Reference Rate and Spread E + 7.25% Interest Rate 9.25%2025-09-300001508655Debt Investments Transportation Project44, Inc First-lien loan ($54,618 par, due 11/2027) Initial Acquisition Date 11/12/2021 Reference Rate and Spread SOFR + 6.35% Interest Rate 10.51%2025-01-012025-09-300001508655us-gaap:FairValueInputsLevel1Member2025-09-300001508655us-gaap:CommonStockMember2025-01-012025-03-310001508655Equity and Other Investments Healthcare Caris Life Sciences, Inc. Warrants (569,991 warrants) Initial Acquisition Date 4/2/20202024-12-310001508655Debt Investments Business Services Elements Finco Limited Investment First-lien loan ($2,257 par, due 4/2031) Initial Acquisition Date 4/29/2024 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.41% (incl. 2.25% PIK)2025-01-012025-09-300001508655Debt Investments Internet Services EDB Parent, LLC Investment First-lien loan ($74,771 par, due 7/2028) Initial Acquisition Date 7/7/2022 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.31%2025-01-012025-09-3000015086552024-09-3000015086552023-12-310001508655Debt Investments Office Products USR Parent, Inc. ABL FILO term loan ($10,309 par, due 4/2027) Initial Acquisition Date 4/25/2022 Reference Rate and Spread SOFR + 6.50% Interest Rate 10.78%2025-09-300001508655Interest Rate Swap Company Pays SOFR + 2.99% Maturity Date 8/14/20282025-09-300001508655Debt Investments Manufacturing Avalara, Inc. First-lien loan ($38,636 par, due 10/2028) Initial Acquisition Date 10/19/2022 Reference Rate and Spread SOFR + 6.25% Interest Rate 10.58%2024-01-012024-12-310001508655us-gaap:FinancialServicesSectorMember2024-12-310001508655Other Investments CIFC Funding Ltd, Series 2021 -7A Structured Credit ($2,800 par, due 1/2035) Initial Acquisition Date 9/8/2025 Reference Rate and Spread SOFR + 4.90% Interest Rate 9.13%2025-09-300001508655Debt Investments Other Kahua, Inc. First-lien loan ($25,000 par, due 8/2030) Initial Acquisition Date 8/22/2025 Reference Rate and Spread SOFR + 6.00% Interest Rate 10.12%2025-09-300001508655Debt Investments Manufacturing Heritage Environmental Services, Inc. First-lien loan ($2,945 par, due 1/2031) Initial Acquisition Date 9/27/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.07%2025-01-012025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:BlueSnapIncMember2025-09-300001508655us-gaap:CommonStockMember2024-06-300001508655Debt Investments Internet Services Merit Software Finance Holdings, LLC First-lien loan ($61,071 par, due 6/2029) Initial Acquisition Date 6/20/2024 Reference Rate and Spread SOFR + 7.50% Interest Rate 11.69%2025-01-012025-09-300001508655us-gaap:AdditionalPaidInCapitalMember2024-04-012024-06-300001508655us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMember2024-01-012024-09-300001508655Debt Investments Human Resource Support Services Axonify, Inc. Investment First-lien loan ($45,113 par, due 5/2027) Initial Acquisition Date 5/5/2021 Reference Rate and Spread SOFR + 7.15% Interest Rate 11.47%2025-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:EquityAndOtherInvestmentsMember2025-01-012025-09-300001508655tslx:DelayedDrawMembertslx:SkyBidcoSPAMember2024-12-310001508655Debt Investments Retail and Consumer Products PDI TA Holdings, Inc. First-lien loan ($20,335 par, due 2/2031) Initial Acquisition Date 2/1/2024 Reference Rate and Spread SOFR + 5.50% Interest Rate 9.81%2025-09-300001508655tslx:InterestRateSwapTwoMember2025-01-012025-09-300001508655Debt Investments Transportation Project44, Inc First-lien loan ($54,824 par, due 11/2027) Initial Acquisition Date 11/12/2021 Reference Rate and Spread SOFR + 6.35% Interest Rate 10.75%2024-12-310001508655Equity and Other Investments Marketing Services Validity, Inc. Series A Preferred Shares (3,840,000 shares) Initial Acquisition Date 5/31/20182025-01-012025-09-300001508655tslx:DelayedDrawMembertslx:TRPAssetsLLCMember2025-09-300001508655tslx:TwoThousandTwentyFourNotesMember2019-11-300001508655Derivative Interest Rate Swap2024-01-012024-12-310001508655tslx:SecondLienDebtInvestmentsMember2025-01-012025-09-300001508655us-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMembertslx:EquityAndOtherInvestmentsMember2024-12-310001508655Debt Investments Internet Services Bayshore Intermediate #2, L.P. Investment First-lien loan ($41,873 par, due 10/2028) Initial Acquisition Date 10/1/2021 Reference Rate and Spread SOFR + 5.50% Interest Rate 9.50% (incl. 3.00% PIK)2025-09-300001508655Debt Investments Hotel, Gaming and Leisure Sport Alliance GmbH Investment First-lien revolving loan (EUR 208 par, due 4/2030) Initial Acquisition Date 4/10/2024 Reference Rate and Spread E + 7.25% Interest Rate 9.25%2025-01-012025-09-300001508655Debt Investments Financial Services TradingScreen, Inc. Investment First-lien loan ($55,102 par, due 4/2027) Initial Acquisition Date 4/30/2021 Reference Rate and Spread SOFR + 6.35% Interest Rate 10.66%2025-01-012025-09-300001508655Debt Investments Retail and Consumer Products Rapid Data GmbH Unternehmensberatung First-lien loan (EUR 7,378 par, due 7/2029) Initial Acquisition Date 7/11/2023 Reference Rate and Spread E + 6.25% Interest Rate 9.47% (incl. 3.00% PIK)2024-12-310001508655tslx:TwentyThirtyNotesMember2025-02-282025-02-280001508655Equity and Other Investments Financial Services TradingScreen, Inc. Class AA Units (19,093 units) Initial Acquisition Date 11/1/2024 Reference Rate and Spread 20.00% Interest Rate 20.00%2025-09-300001508655Debt Investments Financial Services Arlberg Bidco LLC Investment First-lien loan ($5,000 par, due 2/2031) Initial Acquisition Date 2/14/2025 Reference Rate and Spread SOFR + 5.75% Interest Rate 9.98%2025-01-012025-09-300001508655tslx:GreenshootBidcoBVMembertslx:RevolverMember2025-09-300001508655Equity and Other Investments Business Services Warrior TopCo LP Class A Units (423,729 units) Initial Acquisition Date 7/7/20232024-12-310001508655tslx:HumanResourceSupportServicesMember2024-12-310001508655tslx:DelayedDrawAndRevolverMembertslx:RapidDataGmbhUnternehmensberatungMember2024-12-310001508655Debt Investments Retail and Consumer Products Blazing Star Parent, LLC First-lien loan ($70,000 par, due 8/2030) Initial Acquisition Date 8/28/2025 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.20%2025-01-012025-09-300001508655Debt Investments Business Services Price Fx Inc. Investment First-lien loan (EUR 910 par, due 10/2029) Initial Acquisition Date 12/19/2024 Reference Rate and Spread E + 6.25% Interest Rate 8.22%2025-09-300001508655Debt Investments Manufacturing Skylark UK DebtCo Limited First-lien loan (GBP 16,640 par, due 9/2030) Initial Acquisition Date 9/7/2023 Reference Rate and Spread S + 5.66% Interest Rate 10.36%2024-01-012024-12-310001508655Debt Investments Office Products USR Parent, Inc. ABL FILO term loan ($15,000 par, due 4/2027) Initial Acquisition Date 4/25/2022 Reference Rate and Spread SOFR + 6.50% Interest Rate 11.05%2024-12-310001508655Debt Investments Hotel, Gaming and Leisure ASG II, LLC Investment First-lien loan ($65,000 par, due 5/2028) Initial Acquisition Date 5/25/2022 Reference Rate and Spread SOFR + 6.40% Interest Rate 10.71%2025-09-300001508655Equity and Other Investments Business Services ReliaQuest, LLC Class A-3 Units (16,957 units) Initial Acquisition Date 11/10/20232024-12-310001508655Debt Investments Education Severin Acquisition, LLC Investment First-lien loan ($15,730 par, due 10/2031) Initial Acquisition Date 10/1/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.16% (incl. 2.25% PIK)2025-01-012025-09-300001508655us-gaap:RevolvingCreditFacilityMembersrt:MinimumMember2025-09-300001508655us-gaap:InvestmentUnaffiliatedIssuerMember2024-07-012024-09-300001508655Equity and Other Investments Retail and Consumer Products Copper Bidco, LLC Trust Certificates (996,958 Certificates) Initial Acquisition Date 1/30/20212024-12-310001508655tslx:DelayedDrawMembertslx:QSRAcquisitionCoMember2025-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:MezzanineDebtInvestmentsMember2025-09-300001508655Debt Investments Education EMS Linq, Inc. Investment First-lien loan ($56,216 par, due 12/2027) Initial Acquisition Date 12/22/2021 Reference Rate and Spread SOFR + 6.35% Interest Rate 10.86%2024-12-310001508655Debt Investments Communications Babylon Finco Limited Investment First-lien loan ($1,557 par, due 1/2031) Initial Acquisition Date 01/26/2024 Reference Rate and Spread SOFR + 5.75% Interest Rate 10.37%2024-01-012024-12-310001508655Equity and Other Investments Business Services Newark FP Co-Invest, L.P. Partnership (2,527,719 units) Initial Acquisition Date 11/8/20232025-09-300001508655Other Investments Oaktree CLO Ltd, Series 2022 -2A Structured Credit ($3,500 par, due 10/2037) Initial Acquisition Date 7/17/2025 Reference Rate and Spread SOFR + 6.40% Interest Rate 10.70%2025-09-300001508655Other Investments Neuberger Berman Loan Advisers CLO Ltd, Series 2017 -24A Structured Credit ($1,000 par, due 10/2038) Initial Acquisition Date 8/25/2025 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.33%2025-09-300001508655us-gaap:CommonStockMember2024-01-012024-03-310001508655tslx:OilGasAndConsumableFuelsMembertslx:EquityAndOtherInvestmentsMember2025-09-300001508655us-gaap:InvestmentAffiliatedIssuerControlledMember2023-12-310001508655Debt Investments Financial Services BTRS Holdings, Inc. Investment First-lien revolving loan ($1,807 par, due 12/2028) Initial Acquisition Date 12/16/2022 Reference Rate and Spread SOFR + 7.25% Interest Rate 11.76%2024-01-012024-12-310001508655Debt Investments Human Resource Support Services HireVue, Inc. Investment First-lien revolving loan ($5,165 par, due 5/2029) Initial Acquisition Date 5/3/2023 Reference Rate and Spread SOFR + 6.75% Interest Rate 10.99%2025-09-300001508655tslx:KryptonaBidCoUSLLCMembertslx:RevolverMember2024-12-310001508655Debt Investments Business Services ExtraHop Networks, Inc. Investment First-lien loan ($76,496 par, due 7/2027) Initial Acquisition Date 7/22/2021 Reference Rate and Spread SOFR + 6.60% Interest Rate 10.76%2025-09-300001508655Other Investments Neuberger Berman CLO Ltd, Series 2017 -16SA Structured Credit ($4,000 par, due 4/2039) Initial Acquisition Date 7/28/2025 Reference Rate and Spread SOFR + 4.90% Interest Rate 9.22%2025-01-012025-09-300001508655tslx:TwentyTwentyFourNotesMember2020-02-052020-02-050001508655Equity and Other Investments Financial Services Passport Labs, Inc. Warrants (17,534 warrants) Initial Acquisition Date 4/28/20212024-01-012024-12-310001508655tslx:ErlingLuxBidcoSarlMembertslx:DelayedDrawAndRevolverMember2025-09-300001508655tslx:DelayedDrawMembertslx:CirrusBidcoLtdMember2024-12-310001508655tslx:FirstLienDebtInvestmentsMember2025-09-300001508655Equity and Other Investments Retail and Consumer Products Neuintel, LLC Class A Units (1,176,494 units) Initial Acquisition Date 12/20/20212025-01-012025-09-300001508655us-gaap:FairValueInputsLevel2Member2024-12-310001508655tslx:SecondLienDebtInvestmentsMember2024-12-310001508655Other Investments Apidos CLO, Series 2015-23A Investment Structured Credit ($4,000 par, due 10/2038) Initial Acquisition Date 9/3/2025 Reference Rate and Spread SOFR + 5.20% Interest Rate 9.52%2025-09-300001508655tslx:InterestRateSwapOneMember2025-09-300001508655Debt Investments Human Resource Support Services Elysian Finco Ltd. First-lien loan ($21,899 par, due 1/2028) Initial Acquisition Date 1/31/2021 Reference Rate and Spread SOFR + 6.65% Interest Rate 11.28%2024-12-310001508655Debt Investments Human Resource Support Services Madcap Software, Inc. First-lien loan ($32,175 par, due 12/2026) Initial Acquisition Date 12/15/2023 Reference Rate and Spread SOFR + 6.10% Interest Rate 10.35%2024-12-310001508655us-gaap:InvestmentAffiliatedIssuerControlledMember2025-07-012025-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:EquityAndOtherInvestmentsMember2024-07-012024-09-300001508655Debt Investments Retail and Consumer Products Bed Bath and Beyond Inc. Super-Priority DIP term loan ($3,988 par) Initial Acquisition Date 4/24/2023 Reference Rate and Spread SOFR + 7.90% Interest Rate 12.26%2024-12-310001508655us-gaap:FairValueInputsLevel3Membertslx:SecondLienDebtInvestmentsMembertslx:AssetValuationWaterfallMember2024-12-310001508655Debt Investments Business Services Mitnick Corporate Purchaser, Inc. Investment First-lien loan ($323 par, due 5/2029) Initial Acquisition Date 5/2/2022 Reference Rate and Spread SOFR + 4.85% Interest Rate 9.16%2025-09-300001508655Equity and Other Investments Business Services ReliaQuest, LLC Series A Preferred Stock (1,667 Units) Initial Acquisition Date 12/20/2023 Reference Rate and Spread SOFR+12.00% Interest Rate 16.60% PIK2024-01-012024-12-310001508655tslx:InsuranceMember2024-12-310001508655Debt Investments Healthcare Eventus Buyer, LLC Investment First-lien loan ($25,771 par, due 11/2030) Initial Acquisition Date 11/1/2024 Reference Rate and Spread SOFR + 5.50% Interest Rate 9.50%2025-01-012025-09-300001508655Equity and Other Investments Human Resource Support Services bswift, LLC Class A-1 Units (2,393,509 units) Initial Acquisition Date 11/7/20222024-12-310001508655tslx:InterestRateSwapSixMember2024-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:FirstLienDebtInvestmentsMember2024-01-012024-09-300001508655Equity and Other Investments Healthcare Caris Life Sciences, Inc. Series D Preferred Shares (1,240,740 shares) Initial Acquisition Date 5/11/20212024-12-310001508655Equity and Other Investments Internet Services Bigtincan Holdings L.P. Class A Units (2,333,333 Units) Initial Acquisition Date 4/16/20252025-01-012025-09-300001508655us-gaap:RevolvingCreditFacilityMember2025-01-012025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:CordanceOperationsLlcMember2024-12-310001508655Debt Investments Business Services Price Fx Inc. Investment First-lien loan (EUR 910 par, due 10/2029) Initial Acquisition Date 10/27/2023 Reference Rate and Spread E + 7.00% Interest Rate 10.06%2024-01-012024-12-310001508655tslx:InterestRateSwapThreeMember2024-09-300001508655us-gaap:HealthcareSectorMemberus-gaap:DebtSecuritiesMember2025-09-300001508655Debt Investments Business Services Galileo Parent, Inc. Investment First-lien loan ($64,093 par, due 5/2030) Initial Acquisition Date 05/03/2023 Reference Rate and Spread SOFR + 5.75% Interest Rate 10.08%2024-01-012024-12-310001508655tslx:CommunicationsMemberus-gaap:DebtSecuritiesMember2024-12-310001508655Debt Investments Business Services ExtraHop Networks, Inc. Investment First-lien loan ($74,616 par, due 7/2027) Initial Acquisition Date 07/22/2021 Reference Rate and Spread SOFR + 7.60% Interest Rate 11.96%2024-12-310001508655tslx:TwoThousandTwentyFourTwentySixTwentyEightAndTwentyNineMember2024-01-012024-09-300001508655Debt Investments Internet Services Lithium Technologies, LLC First-lien loan ($61,483 par, due 1/2025) Initial Acquisition Date 10/3/2017 Reference Rate and Spread SOFR + 11.00% Interest Rate 15.59%2024-12-310001508655us-gaap:CommonStockMember2024-09-300001508655us-gaap:FairValueInputsLevel3Member2024-01-012024-09-300001508655Debt Investments Human Resource Support Services Madcap Software, Inc. First-lien loan ($32,175 par, due 12/2026) Initial Acquisition Date 12/15/2023 Reference Rate and Spread SOFR + 6.10% Interest Rate 10.35%2024-01-012024-12-310001508655Equity and Other Investments Pharmaceuticals Elysium BidCo Limited Convertible Preference Shares (4,976,563 Shares) Initial Acquisition Date 12/11/20242025-09-300001508655Debt Investments Chemicals Erling Lux Bidco SARL Investment First-lien revolving loan (GBP 499 par, due 9/2028) Initial Acquisition Date 9/6/2022 Reference Rate and Spread S + 7.00% Interest Rate 10.97%2025-01-012025-09-300001508655Debt Investments Pharmaceuticals Elysium BidCo Limited First-lien loan (GBP 9,953 par, due 12/2030) Initial Acquisition Date 12/11/2024 Reference Rate and Spread S + 7.25% Interest Rate 11.22%2025-01-012025-09-300001508655Debt Investments Internet Services EDB Parent, LLC First-lien loan ($69,873 par, due 7/2028) Initial Acquisition Date 7/7/2022 Reference Rate and Spread SOFR + 6.75% Interest Rate 11.26%2024-12-310001508655Debt Investments Chemicals Erling Lux Bidco SARL Investment First-lien loan (EUR 7,239 par, due 9/2028) Initial Acquisition Date 09/06/2022 Reference Rate and Spread E + 7.00% Interest Rate 10.06%2024-12-310001508655Equity and Other Investments Internet Services SMA Technologies Holdings, LLC Class A Units (1,584 units) Initial Acquisition Date 11/21/20222025-09-300001508655Debt Investments Business Services USA DeBusk, LLC Investment First-lien loan ($6,899 par, due 4/2031) Initial Acquisition Date 04/30/2024 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.62%2024-01-012024-12-310001508655tslx:TangoManagementConsultingLLCMembertslx:DelayedDrawAndRevolverMember2024-12-310001508655tslx:DelayedDrawAndRevolverMembertslx:LynxBidcoMember2025-09-300001508655us-gaap:InterestRateSwapMembertslx:TwoThousandTwentyFourNotesMember2024-01-012024-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:WranglerTopcoLlcMember2025-09-300001508655us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMembertslx:MezzanineDebtInvestmentsMember2024-12-310001508655tslx:TwoThousandTwentyEightNotesMember2024-12-310001508655Debt Investments Healthcare BCTO Ace Purchaser, Inc. Investment Second-lien loan ($7,381 par, due 1/2030) Initial Acquisition Date 1/23/2023 Reference Rate and Spread SOFR + 10.70% Interest Rate 15.02% PIK2025-09-300001508655Debt Investments Education Astra Acquisition Corp. Investment Second-lien loan ($40,302 par, due 10/2029) Initial Acquisition Date 10/22/2021 Reference Rate and Spread SOFR + 9.14% Interest Rate 13.47%2024-12-310001508655Interest Rate Swap Company Pays SOFR + 2.17% Maturity Date 8/1/20262025-09-300001508655Equity and Other Investments Retail and Consumer Products American Achievement, Corp. Class A Units (687 units) Initial Acquisition Date 3/16/20212025-09-300001508655Interest Rate Swap Company Receives 6.95% Company Pays SOFR + 2.99% Maturity Date 8/14/20282025-09-300001508655Equity and Other Investments Healthcare Khoros, LLC Earnout Interests Initial Acquisition Date 5/23/20202025-01-012025-09-300001508655Equity and Other Investments Hotel, Gaming and Leisure IRGSE Holding Corp. Class C-1 Units (8,800,000 units) Initial Acquisition Date 12/21/20182025-01-012025-09-300001508655Other Investments Carlyle US CLO Ltd, Series 2017 -2A Investment Structured Credit ($2,500 par, due 7/2037) Initial Acquisition Date 9/3/2025 Reference Rate and Spread SOFR + 7.56% Interest Rate 11.89%2025-09-300001508655Equity and Other Investments Retail and Consumer Products American Achievement, Corp. Class A Units (687 units) Initial Acquisition Date 3/16/20212024-12-310001508655tslx:BayshoreIntermediate2LPMembertslx:RevolverMember2024-12-310001508655tslx:RetailAndConsumerProductsMember2025-09-300001508655Debt Investments Communications Banyan Software Holdings, LLC Investment First-lien loan ($16,045 par, due 10/2026) Initial Acquisition Date 01/26/2024 Reference Rate and Spread SOFR + 6.25% Interest Rate 10.61%2024-12-310001508655tslx:MezzanineDebtInvestmentsMember2024-09-300001508655Equity and Other Investments Education Astra 2L Holdings II LLC Membership Interest (10.17% ownership) Initial Acquisition Date 1/13/20222024-01-012024-12-310001508655Other Investments Canyon CLO Ltd, Series 2025 -1A Structured Credit ($1,125 par, due 4/2038) Initial Acquisition Date 7/28/2025 Reference Rate and Spread SOFR + 4.75% Interest Rate 9.04%2025-09-300001508655Other Investments CIFC Funding Ltd, Series 2022 -4A Structured Credit ($3,000 par, due 7/2035) Initial Acquisition Date 8/27/2025 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.53%2025-09-300001508655Debt Investments Internet Services Arrow Buyer, Inc. First-lien loan ($34,944 par, due 7/2030) Initial Acquisition Date 6/30/2023 Reference Rate and Spread SOFR + 5.75% Interest Rate 10.08%2024-12-310001508655Equity and Other Investments Business Services Mitnick TA Aggregator, L.P. Membership Interest (0.43% ownership) Initial Acquisition Date 5/2/20222024-01-012024-12-310001508655Debt Investments Business Services Lynx BidCo Investment First-lien loan ($1,500 par, due 7/2031) Initial Acquisition Date 7/5/2024 Reference Rate and Spread SOFR + 6.50% Interest Rate 10.50%2025-01-012025-09-300001508655Debt Investments Internet Services Flight Intermediate HoldCo, Inc. First-lien loan ($40,000 par, due 4/2030) Initial Acquisition Date 10/3/2024 Reference Rate and Spread 11.50% Interest Rate 11.50%2024-01-012024-12-310001508655Debt Investments Business Services USA DeBusk, LLC Investment First-lien revolving loan ($534 par, due 4/2030) Initial Acquisition Date 4/30/2024 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.41%2025-09-300001508655Other Investments Octagon 67 Ltd, Series 2023 -1A Structured Credit ($3,000 par, due 7/2038) Initial Acquisition Date 9/4/2025 Reference Rate and Spread SOFR + 7.41% Interest Rate 11.73%2025-01-012025-09-300001508655Debt Investments Healthcare HMP Omnimedia, LLC Investment First-lien loan ($19,773 par, due 7/2032) Initial Acquisition Date 7/31/2025 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.41%2025-09-300001508655Debt Investments Communications Celtra Technologies, Inc. Investment First-lien loan ($26,437 par, due 11/2026) Initial Acquisition Date 11/19/2021 Reference Rate and Spread SOFR + 5.75% Interest Rate 10.34%2024-01-012024-12-310001508655Equity and Other Investments Healthcare Caris Life Sciences, Inc. Series C Preferred Shares (1,915,114 shares) Initial Acquisition Date 10/13/20202024-01-012024-12-310001508655Debt Investments Hotel, Gaming and Leisure IRGSE Holding Corp. Investment First-lien loan ($30,261 par, due 6/2026) Initial Acquisition Date 12/21/2018 Reference Rate and Spread SOFR + 9.65% Interest Rate 13.65%2025-01-012025-09-300001508655us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMembertslx:FirstLienDebtInvestmentsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMember2025-09-300001508655Equity and Other Investments Pharmaceuticals Elysium BidCo Limited Convertible Preference Shares (4,976,563 Shares) Initial Acquisition Date 12/11/20242025-01-012025-09-300001508655Equity and Other Investments Communications IntelePeer Holdings, Inc. Series D Warrants (106,592 warrants) Initial Acquisition Date 4/8/20212025-01-012025-09-300001508655Debt Investments Financial Services Volante Technologies, Inc. Investment First-lien loan ($3,072 par, due 9/2028) Initial Acquisition Date 09/29/2023 Reference Rate and Spread 16.50% Interest Rate 16.50% PIK2024-12-310001508655tslx:InterestRateSwapFourMember2025-01-012025-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:SecondLienDebtInvestmentsMemberus-gaap:MeasurementInputDiscountRateMembersrt:MinimumMemberus-gaap:IncomeApproachValuationTechniqueMember2024-12-310001508655Equity and Other Investments Business Services ReliaQuest, LLC Class A-2 Units (10,611 units) Initial Acquisition Date 6/21/20222024-12-310001508655tslx:OtherMemberus-gaap:DebtSecuritiesMember2025-09-300001508655us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMembertslx:TwoThousandThirtyNotesMember2025-01-012025-09-300001508655tslx:FirstLienDebtInvestmentsMember2025-01-012025-09-300001508655tslx:TwoThousandTwentyEightNotesMember2024-01-012024-12-310001508655Debt Investments Financial Services Payroc Buyer, LLC Investment Promissory Note ($6,000 par, due 9/2030) Initial Acquisition Date 9/30/2025 Reference Rate and Spread 5.50% Interest Rate 5.50% PIK2025-09-300001508655Equity and Other Investments Financial Services TradingScreen, Inc. Class AA Units (19,093 units) Initial Acquisition Date 11/1/2024 Reference Rate and Spread 20.00% Interest Rate 20.00%2025-01-012025-09-300001508655tslx:SecondLienDebtInvestmentsMember2024-07-012024-09-300001508655Equity and Other Investments Oil, Gas and Consumable Fuels Murchison Oil and Gas, LLC Preferred Units (13,355 units) Initial Acquisition Date 6/30/20222024-01-012024-12-310001508655Equity and Other Investments Internet Services SMA Technologies Holdings, LLC Class A Units (1,584 units) Initial Acquisition Date 11/21/20222024-01-012024-12-310001508655Debt Investments Manufacturing ASP Unifrax Holdings, Inc. Second-lien note ($1,999 par, due 9/2029) Initial Acquisition Date 8/31/2023 Reference Rate and Spread SOFR + 7.10% Interest Rate 7.10% (incl. 1.25% PIK)2024-12-310001508655Interest Rate Swap Company Pays SOFR + 2.44% Maturity Date 3/1/20292024-12-310001508655tslx:EducationMemberus-gaap:DebtSecuritiesMember2025-09-300001508655tslx:TwoThousandTwentyNineNotesMemberus-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember2024-01-012024-12-310001508655Debt Investments Manufacturing Skylark UK DebtCo Limited First-lien loan (GBP 22,186 par, due 9/2030) Initial Acquisition Date 9/7/2023 Reference Rate and Spread S + 5.66% Interest Rate 9.63%2025-09-300001508655Debt Investments Manufacturing Heritage Environmental Services, Inc. First-lien loan ($2,945 par, due 1/2031) Initial Acquisition Date 9/27/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.07%2025-09-300001508655Debt Investments Human Resource Support Services Elysian Finco Ltd. Investment First-lien loan ($21,745 par, due 1/2028) Initial Acquisition Date 1/31/2021 Reference Rate and Spread SOFR + 5.15% Interest Rate 9.15%2025-09-300001508655tslx:TwoThousandTwentyEightNotesMember2023-08-012023-08-310001508655tslx:EquityAndOtherInvestmentsMember2025-09-300001508655Debt Investments Financial Services Alaska Bidco Oy Investment First-lien loan (EUR 727 par, due 5/2030) Initial Acquisition Date 05/30/2023 Reference Rate and Spread E + 5.75% Interest Rate 8.51%2024-01-012024-12-310001508655us-gaap:OverAllotmentOptionMember2024-03-050001508655us-gaap:CommonStockMember2025-06-300001508655tslx:RevolvingCreditFacilityMaturityOnApril232027Member2025-03-042025-03-040001508655Equity and Other Investments Oil, Gas and Consumable Fuels TRP Assets, LLC Partnership Interest (1.89% ownership) Initial Acquisition Date 8/25/20222024-12-310001508655Debt Investments Business Services Alpha Midco, Inc. Investment First-lien loan ($69,624 par, due 8/2028) Initial Acquisition Date 08/15/2019 Reference Rate and Spread SOFR + 6.88% Interest Rate 11.20%2024-01-012024-12-310001508655tslx:WestMember2024-12-310001508655us-gaap:FinancialServicesSectorMemberus-gaap:DebtSecuritiesMember2024-12-310001508655Debt Investments Other Sky Bidco S.p.A. First-lien note (EUR 6,368 par, due 10/2031) Initial Acquisition Date 10/29/2024 Reference Rate and Spread E + 5.25% Interest Rate 8.20%2024-12-310001508655Debt Investments Manufacturing Skylark UK DebtCo Limited First-lien loan (EUR 4,851 par, due 9/2030) Initial Acquisition Date 9/7/2023 Reference Rate and Spread E + 5.66% Interest Rate 7.66%2025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:MeritSoftwareFinanceHoldingsLlcMember2025-09-300001508655Debt Investments Other Scorpio Bidco First-lien loan (EUR 2,511 par, due 4/2031) Initial Acquisition Date 4/4/2024 Reference Rate and Spread E + 5.75% Interest Rate 7.75%2025-01-012025-09-300001508655Interest Rate Swap Company Receives 6.125% Company Pays SOFR + 2.44% Maturity Date 3/1/20292024-01-012024-12-310001508655Debt Investments Other Sky Bidco S.p.A. First-lien note ($14,085 par, due 10/2031) Initial Acquisition Date 10/29/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.00%2025-09-300001508655Debt Investments Healthcare BCTO Ace Purchaser, Inc. Investment First-lien loan ($69,995 par, due 11/2029) Initial Acquisition Date 11/23/2020 Reference Rate and Spread SOFR + 6.50% Interest Rate 10.70%2025-09-300001508655Debt Investments Business Services Crewline Buyer, Inc. Investment First-lien loan ($58,384 par, due 11/2030) Initial Acquisition Date 11/08/2023 Reference Rate and Spread SOFR + 6.75% Interest Rate 11.11%2024-12-310001508655Debt Investments Business Services Price Fx Inc. Investment First-lien loan (EUR 910 par, due 10/2029) Initial Acquisition Date 10/27/2023 Reference Rate and Spread E + 7.00% Interest Rate 8.97%2025-01-012025-09-300001508655Debt Investments Retail and Consumer Products Neuintel, LLC First-lien loan ($55,038 par, due 12/2026) Initial Acquisition Date 12/20/2021 Reference Rate and Spread SOFR + 6.85% Interest Rate 11.21%2024-12-310001508655Debt Investments Business Services Lynx BidCo Investment First-lien loan ($1,500 par, due 7/2031) Initial Acquisition Date 7/5/2024 Reference Rate and Spread SOFR + 6.50% Interest Rate 10.50%2025-09-300001508655Debt Investments Transportation Marcura Equities LTD First-lien loan (GBP 1,095 par, due 8/2029) Initial Acquisition Date 8/11/2023 Reference Rate and Spread S + 8.25% Interest Rate 12.22% (incl. 4.25% PIK)2025-01-012025-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:SecondLienDebtInvestmentsMember2024-07-012024-09-300001508655country:CA2024-12-310001508655Equity and Other Investments Human Resource Support Services DaySmart Holdings, LLC Class A Units (166,811 units) Initial Acquisition Date 12/18/20202024-01-012024-12-310001508655tslx:DelayedDrawAndRevolverMembertslx:SeverinAcquisitionLLCMember2025-09-300001508655Debt Investments Financial Services GreenShoot BidCo B.V Investment First-lien loan (EUR 5,107 par, due 5/2030) Initial Acquisition Date 5/28/2024 Reference Rate and Spread E + 5.75% Interest Rate 7.78%2025-09-300001508655Debt Investments Financial Services Passport Labs, Inc. Investment First-lien loan ($24,995, par, due 4/2026) Initial Acquisition Date 04/28/2021 Reference Rate and Spread SOFR + 8.40% Interest Rate 12.91%2024-12-310001508655tslx:SecondLienDebtInvestmentsMember2025-01-012025-09-300001508655Other Investments Diameter Capital CLO Ltd, Series 2025 -9A Structured Credit ($3,500 par, due 4/2038) Initial Acquisition Date 9/2/2025 Reference Rate and Spread SOFR + 4.70% Interest Rate 9.02%2025-09-300001508655Equity and Other Investments Financial Services Passport Labs, Inc. Warrants (17,534 warrants) Initial Acquisition Date 4/28/20212024-12-310001508655tslx:DelayedDrawMembertslx:BctoBluebillBuyerIncMember2024-12-310001508655tslx:TwoThousandTwentySixNotesMember2025-01-012025-09-300001508655Equity and Other Investments Internet Services SMA Technologies Holdings, LLC Class B Units (1,124,813 units) Initial Acquisition Date 11/21/20222024-12-310001508655Debt Investments Manufacturing ASP Unifrax Holdings, Inc. Second-lien note ($1,999 par, due 9/2029) Initial Acquisition Date 8/31/2023 Reference Rate and Spread SOFR + 7.10% Interest Rate 7.10% (incl. 1.25% PIK)2024-01-012024-12-310001508655Debt Investments Manufacturing Heritage Environmental Services, Inc. First-lien loan ($12,191 par, due 1/2031) Initial Acquisition Date 1/31/2024 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.56%2025-09-300001508655tslx:InterestRateSwapFiveMember2024-01-012024-09-300001508655tslx:AzuriteIntermediateHoldingsIncMembertslx:RevolverAndEquityMember2025-09-300001508655tslx:AdministrationAgreementMembersrt:ScenarioForecastMember2025-11-012025-11-300001508655tslx:O2025Q1SupplementalDividendsMember2025-02-130001508655Debt Investments Retail and Consumer Products Bed Bath and Beyond Inc. Roll Up DIP term loan ($24,924 par) Initial Acquisition Date 4/24/2023 Reference Rate and Spread SOFR + 7.90% Interest Rate 12.26% PIK2024-01-012024-12-310001508655Interest Rate Swap Company Receives 2.5% Company Pays SOFR + 2.17% Maturity Date 8/1/20262025-01-012025-09-300001508655us-gaap:InvestmentAffiliatedIssuerControlledMember2024-12-310001508655Equity and Other Investments Internet Services Piano Software, Inc. Series C-1 Preferred Shares (418,527 shares) Initial Acquisition Date 12/22/20212024-01-012024-12-310001508655Other Investments Regatta Funding Ltd, Series 2020 -1A Structured Credit ($1,000 par, due 10/2037) Initial Acquisition Date 7/17/2025 Reference Rate and Spread SOFR + 6.50% Interest Rate 10.82%2025-09-300001508655Equity and Other Investments Business Services Sprinklr, Inc. Common Shares (283,499 shares) Initial Acquisition Date 6/24/20212025-09-300001508655Debt Investments Business Services Crewline Buyer, Inc. Investment First-lien loan ($58,384 par, due 11/2030) Initial Acquisition Date 11/8/2023 Reference Rate and Spread SOFR + 6.75% Interest Rate 10.91%2025-01-012025-09-300001508655us-gaap:FairValueInputsLevel2Membertslx:FirstLienDebtInvestmentsMember2025-09-300001508655tslx:OilGasAndConsumableFuelsMemberus-gaap:DebtSecuritiesMember2024-12-310001508655tslx:EquityAndOtherInvestmentsMembertslx:RetailAndConsumerProductsMember2024-12-310001508655tslx:OtherMember2024-12-310001508655tslx:O2025Q2SupplementalDividendsMember2025-04-302025-04-300001508655Other Investments Ares CLO Ltd, Series 2024-72A Investment Structured Credit ($3,500 par, due 7/2036) Initial Acquisition Date 8/7/2025 Reference Rate and Spread SOFR + 6.00% Interest Rate 10.32%2025-09-300001508655tslx:OfficeProductsMember2024-12-310001508655us-gaap:InterestRateSwapMembertslx:TwoThousandTwentyNineNotesMember2025-07-012025-09-300001508655Hedge Accounting Swaps2025-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:MezzanineDebtInvestmentsMember2024-01-012024-09-300001508655tslx:DelayedDrawMembertslx:SlBuyerCorpMember2024-12-3100015086552025-07-012025-09-300001508655Debt Investments Business Services BCTO Ignition Purchaser, Inc. Investment First-lien holdco loan ($52,838 par, due 10/2030) Initial Acquisition Date 4/18/2023 Reference Rate and Spread SOFR + 7.50% Interest Rate 11.83% PIK2025-09-300001508655tslx:TwoThousandTwentyNineNotesMember2025-01-012025-09-300001508655Other Investments Texas Debt Capital CLO Ltd, Series 2023 -1A Structured Credit ($2,000 par, due 7/2038) Initial Acquisition Date 8/12/2025 Reference Rate and Spread SOFR + 4.95% Interest Rate 9.27%2025-01-012025-09-300001508655country:SE2025-09-300001508655tslx:DelayedDrawMembertslx:SkylarkUkDebtcoLimitedMember2024-12-310001508655us-gaap:CommonStockMember2024-07-012024-09-300001508655Debt Investments Electronics Sapphire Software Buyer, Inc. Investment First-lien loan ($27,030 par, due 9/2031) Initial Acquisition Date 9/30/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 8.87%2025-01-012025-09-300001508655Debt Investments Manufacturing Varinem German BidCo GMBH First-lien loan (EUR 12,696 par, due 7/2031) Initial Acquisition Date 7/11/2024 Reference Rate and Spread E + 5.50% Interest Rate 7.57%2025-01-012025-09-300001508655us-gaap:InvestmentAffiliatedIssuerControlledMember2024-07-012024-09-300001508655us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMember2024-07-012024-09-300001508655Debt Investments Internet Services Lithium Technologies, LLC First-lien loan ($61,483 par, due 1/2025) Initial Acquisition Date 10/3/2017 Reference Rate and Spread SOFR + 11.00% Interest Rate 15.59%2024-01-012024-12-310001508655Debt Investments Retail and Consumer Products Bed Bath and Beyond Inc. ABL FILO term loan ($5,910 par, due 8/2027) Initial Acquisition Date 9/2/2022 Reference Rate and Spread SOFR + 9.90% Interest Rate 14.06%2025-09-300001508655tslx:ManufacturingMember2025-09-300001508655Debt Investments Hotel, Gaming and Leisure AVSC Holding Corp. Investment First-lien loan ($44,941 par, due 12/2031) Initial Acquisition Date 12/5/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.16%2025-01-012025-09-300001508655tslx:TwoThousandThirtyNotesMember2025-09-300001508655Debt Investments Internet Services Big Wombat Holdings, Inc. Investment First-lien loan ($30,544 par, due 4/2031) Initial Acquisition Date 4/16/2025 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.00%2025-01-012025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:ForeScoutTechnologiesIncMember2025-09-300001508655tslx:BusinessServicesMember2024-12-310001508655tslx:RevolvingCreditFacilityMaturityOnMarch42025Member2025-03-040001508655tslx:MezzanineDebtInvestmentsMember2024-01-012024-09-300001508655Other Investments CarVal CLO Ltd, Series 2021 -2A Investment Structured Credit ($2,000 par, due 10/2034) Initial Acquisition Date 9/9/2025 Reference Rate and Spread SOFR + 7.01% Interest Rate 11.33%2025-09-300001508655Debt Investments Chemicals Erling Lux Bidco SARL Investment First-lien loan (GBP 19,591 par, due 9/2028) Initial Acquisition Date 09/06/2022 Reference Rate and Spread S + 7.00% Interest Rate 11.70%2024-01-012024-12-310001508655Debt Investments Financial Services TradingScreen, Inc. Investment First-lien revolving loan ($899 par, due 5/2027) Initial Acquisition Date 11/1/2024 Reference Rate and Spread P + 5.25% Interest Rate 12.50%2025-09-300001508655Equity and Other Investments Business Services Insight Hideaway Aggregator, L.P. Partnership Interest (329,861 units) Initial Acquisition Date 3/19/20242024-12-310001508655Debt Investments Financial Services Volante Technologies, Inc. Investment First-lien loan ($3,473 par, due 9/2028) Initial Acquisition Date 9/29/2023 Reference Rate and Spread 16.50% Interest Rate 16.50% PIK2025-01-012025-09-300001508655Debt Investments Internet Services Hippo XPA Bidco AB First-lien loan (EUR 2,472 par, due 2/2031) Initial Acquisition Date 2/20/2024 Reference Rate and Spread E + 6.50% Interest Rate 9.87% (incl. 3.50% PIK)2024-01-012024-12-310001508655Debt Investments Human Resource Support Services HireVue, Inc. First-lien loan ($53,572 par, due 5/2029) Initial Acquisition Date 5/3/2023 Reference Rate and Spread SOFR + 6.75% Interest Rate 11.34%2024-12-310001508655Debt Investments Other Sky Bidco S.p.A. First-lien note (EUR 6,368 par, due 10/2031) Initial Acquisition Date 10/29/2024 Reference Rate and Spread E + 5.25% Interest Rate 8.20%2024-01-012024-12-310001508655Debt Investments Financial Services TradingScreen, Inc. Investment First-lien revolving loan ($899 par, due 5/2027) Initial Acquisition Date 11/01/2024 Reference Rate and Spread P + 5.25% Interest Rate 12.75%2024-12-310001508655us-gaap:FinancialServicesSectorMemberus-gaap:DebtSecuritiesMember2025-09-300001508655Debt Investments Real Estate Cirrus (BidCo) Limited First-lien loan (GBP 698 par, due 8/2030) Initial Acquisition Date 8/9/2024 Reference Rate and Spread S + 5.75% Interest Rate 9.72% (incl. 2.50% PIK)2025-09-300001508655Equity and Other Investments Oil, Gas and Consumable Fuels Murchison Oil and Gas, LLC Preferred Units (13,355 units) Initial Acquisition Date 6/30/20222025-09-300001508655Interest Rate Swap, Cash collateral2024-12-310001508655tslx:O2024Q2BaseDividendsMember2024-05-012024-05-010001508655tslx:TwoThousandTwentyFourNotesMember2019-11-012019-11-300001508655us-gaap:RetainedEarningsMember2023-12-310001508655tslx:TransportationMemberus-gaap:DebtSecuritiesMember2024-12-310001508655Debt Investments Oil, Gas and Consumable Fuels TRP Assets, LLC First-lien loan ($54,834 par, due 12/2029) Initial Acquisition Date 12/20/2024 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.33%2024-01-012024-12-310001508655Equity and Other Investments Financial Services Oxford Square Capital Corp. Common Shares (1,620 shares) Initial Acquisition Date 8/5/20152024-01-012024-12-310001508655Debt Investments Transportation Shiftmove GMBH First-lien loan (EUR 31,875 par, due 9/2030) Initial Acquisition Date 9/30/2024 Reference Rate and Spread E + 6.00% Interest Rate 8.12%2025-09-300001508655tslx:InvestmentAdvisoryAgreementMembertslx:LeverageWaiverMember2024-01-012024-09-300001508655Equity and Other Investments Retail and Consumer Products Neuintel, LLC Class A Units (1,176,494 units) Initial Acquisition Date 12/20/20212025-09-300001508655Debt Investments Retail and Consumer Products Cordance Operations, LLC First-lien loan ($60,781 par, due 7/2028) Initial Acquisition Date 7/25/2022 Reference Rate and Spread SOFR + 9.25% Interest Rate 13.51%2024-12-310001508655Debt Investments Human Resource Support Services Employment Hero Holdings Pty Ltd. First-lien loan (AUD 60,000 par, due 12/2026) Initial Acquisition Date 12/6/2021 Reference Rate and Spread B + 6.25% Interest Rate 10.73%2024-12-310001508655tslx:InternetServicesMemberus-gaap:DebtSecuritiesMember2025-09-300001508655tslx:DelayedDrawMembertslx:PrimePayIntermediateLLCMember2024-12-310001508655us-gaap:RetainedEarningsMember2024-03-310001508655tslx:DelayedDrawMembertslx:ApellisPharmaceuticalsIncMember2025-09-300001508655tslx:TransportationMemberus-gaap:DebtSecuritiesMember2025-09-300001508655Debt Investments Internet Services Flight Intermediate HoldCo, Inc. First-lien loan ($40,000 par, due 4/2030) Initial Acquisition Date 10/3/2024 Reference Rate and Spread 11.50% Interest Rate 11.50%2024-12-310001508655Debt Investments Manufacturing Heritage Environmental Services, Inc. First-lien loan ($12,191 par, due 1/2031) Initial Acquisition Date 1/31/2024 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.56%2025-01-012025-09-300001508655Other Investments Neuberger Berman CLO Ltd, Series 2015 -20A Structured Credit ($1,150 par, due 4/2039) Initial Acquisition Date 7/28/2025 Reference Rate and Spread SOFR + 4.75% Interest Rate 9.07%2025-09-300001508655Other Investments CIFC Funding Ltd, Series 2020 -4A Structured Credit ($4,000 par, due 1/2040) Initial Acquisition Date 7/29/2025 Reference Rate and Spread SOFR + 4.90% Interest Rate 9.22%2025-09-300001508655Equity and Other Investments Education EMS Linq, Inc. Class B Units (5,522,526 units) Initial Acquisition Date 12/22/20212025-01-012025-09-300001508655Equity and Other Investments Financial Services AF Eagle Parent, L.P. Partnership Units (121,329 units) Initial Acquisition Date 11/27/20232024-01-012024-12-310001508655tslx:InterestRateSwapSixMember2024-01-012024-09-300001508655us-gaap:AdditionalPaidInCapitalMember2025-07-012025-09-300001508655Debt Investments Education EMS Linq, Inc. Investment First-lien loan ($4,216 par, due 12/2027) Initial Acquisition Date 12/22/2021 Reference Rate and Spread SOFR + 6.35% Interest Rate 10.81%2024-12-310001508655Debt Investments Retail and Consumer Products Bed Bath and Beyond Inc. ABL FILO term loan ($8,994 par, due 8/2027) Initial Acquisition Date 9/2/2022 Reference Rate and Spread SOFR + 9.90% Interest Rate 14.26%2024-12-310001508655tslx:EquityAndOtherInvestmentsMember2025-06-300001508655tslx:TransportationMember2025-09-300001508655Debt Investments Education Destiny Solutions Parent Holding Company Investment First-lien loan ($58,950 par, due 6/2026) Initial Acquisition Date 06/08/2021 Reference Rate and Spread SOFR + 5.60% Interest Rate 9.96%2024-12-310001508655us-gaap:InvestmentUnaffiliatedIssuerMember2024-12-310001508655Debt Investments Business Services USA DeBusk, LLC Investment First-lien revolving loan ($275 par, due 4/2030) Initial Acquisition Date 04/30/2024 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.59%2024-12-310001508655tslx:ManufacturingMemberus-gaap:DebtSecuritiesMember2025-09-300001508655Debt Investments Transportation Marcura Equities LTD First-lien loan (GBP 1,095 par, due 8/2029) Initial Acquisition Date 8/11/2023 Reference Rate and Spread S + 8.25% Interest Rate 12.22% (incl. 4.25% PIK)2025-09-300001508655tslx:BigWombatHoldingIncMembertslx:RevolverMember2025-09-300001508655Debt Investments Healthcare Velocity Clinical Research, Inc. Investment First-lien revolving loan ($528 par, due 9/2031) Initial Acquisition Date 9/9/2025 Reference Rate and Spread SOFR + 7.50% Interest Rate 11.50%2025-09-300001508655Equity and Other Investments Internet Services SMA Technologies Holdings, LLC Class A Units (1,584 units) Initial Acquisition Date 11/21/20222024-12-310001508655tslx:MarcuraEquitiesLtdMembertslx:DelayedDrawAndRevolverMember2024-12-310001508655Debt Investments Pharmaceuticals Elysium BidCo Limited First-lien loan (GBP 9,953 par, due 12/2030) Initial Acquisition Date 12/11/2024 Reference Rate and Spread S + 7.25% Interest Rate 11.22%2025-09-300001508655tslx:OtherMemberus-gaap:DebtSecuritiesMember2024-12-310001508655Other Investments Neuberger Berman CLO Ltd, Series 2015 -20A Structured Credit ($1,150 par, due 4/2039) Initial Acquisition Date 7/28/2025 Reference Rate and Spread SOFR + 4.75% Interest Rate 9.07%2025-01-012025-09-300001508655Debt Investments Electronics Sapphire Software Buyer, Inc. Investment First-lien loan ($26,962 par, due 9/2031) Initial Acquisition Date 09/30/2024 Reference Rate and Spread SOFR + 5.50% Interest Rate 9.75% (incl. 3.0% PIK)2024-01-012024-12-310001508655Debt Investments Hotel, Gaming and Leisure IRGSE Holding Corp. Investment First-lien revolving loan ($45,592 par, due 6/2026) Initial Acquisition Date 12/21/2018 Reference Rate and Spread SOFR + 9.65% Interest Rate 13.83%2025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:TangoManagementConsultingLLCMember2025-09-300001508655Debt Investments Pharmaceuticals Elysium BidCo Limited First-lien loan (EUR 17,985 par, due 12/2030) Initial Acquisition Date 12/11/2024 Reference Rate and Spread E + 7.25% Interest Rate 9.25%2025-01-012025-09-300001508655Equity and Other Investments Education Astra 2L Holdings II LLC Membership Interest (10.17% ownership) Initial Acquisition Date 1/13/20222025-01-012025-09-300001508655Debt Investments Internet Services SMA Technologies Holdings, LLC First-lien loan ($55,579 par, due 10/2028) Initial Acquisition Date 10/31/2022 Reference Rate and Spread SOFR + 6.50% Interest Rate 10.70%2025-01-012025-09-300001508655Debt Investments Business Services Mitnick Corporate Purchaser, Inc. Investment First-lien loan ($323 par, due 5/2029) Initial Acquisition Date 5/2/2022 Reference Rate and Spread SOFR + 4.85% Interest Rate 9.16%2025-01-012025-09-300001508655Debt Investments Manufacturing ASP Unifrax Holdings, Inc. First-lien loan ($3,575 par, due 9/2029) Initial Acquisition Date 9/30/2024 Reference Rate and Spread SOFR + 7.75% Interest Rate 11.75% (incl. 4.75% PIK)2025-09-300001508655Debt Investments Hotel, Gaming and Leisure Equinox Holdings, Inc. Investment First-lien loan ($50,158 par, due 3/2029) Initial Acquisition Date 3/8/2024 Reference Rate and Spread SOFR + 8.25% Interest Rate 12.25% (incl. 4.13% PIK)2025-09-300001508655us-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:MeasurementInputComparabilityAdjustmentMembersrt:MinimumMembertslx:EquityAndOtherInvestmentsMember2024-12-310001508655Other Investments CarVal CLO Ltd, Series 2023 -1A Structured Credit ($3,000 par, due 7/2037) Initial Acquisition Date 8/13/2025 Reference Rate and Spread SOFR + 6.35% Interest Rate 10.68%2025-01-012025-09-300001508655tslx:TwoThousandTwentyFourTwentySixTwentyEightTwentyNineAndTwentyThirtyNotesMember2024-01-012024-09-300001508655Debt Investments Business Services Artisan Bidco, Inc. Investment First-lien loan ($38,536 par, due 11/2029) Initial Acquisition Date 11/7/2023 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.32%2025-01-012025-09-300001508655Debt Investments Transportation Rail Acquisitions LLC First-lien loan ($25,281 par, due 1/2030) Initial Acquisition Date 1/27/2025 Reference Rate and Spread SOFR + 6.00% Interest Rate 10.31%2025-01-012025-09-300001508655us-gaap:RetainedEarningsMember2024-04-012024-06-300001508655us-gaap:InterestRateSwapMembertslx:TwoThousandTwentyEightNotesMember2024-01-012024-09-300001508655Debt Investments Business Services Price Fx Inc. Investment First-lien loan (EUR 910 par, due 10/2029) Initial Acquisition Date 12/19/2024 Reference Rate and Spread E + 6.25% Interest Rate 9.12%2024-01-012024-12-310001508655Equity and Other Investments Business Services Dye & Durham, Ltd. Common Shares (126,968 shares) Initial Acquisition Date 12/3/20212024-01-012024-12-310001508655Other Investments CIFC Funding Ltd, Series 2021 -7A Structured Credit ($2,800 par, due 1/2035) Initial Acquisition Date 9/8/2025 Reference Rate and Spread SOFR + 4.90% Interest Rate 9.13%2025-01-012025-09-300001508655Debt Investments Financial Services Passport Labs, Inc. Investment Convertible Promissory Note A ($1,086 par, due 8/2026) Initial Acquisition Date 03/02/2023 Reference Rate and Spread 8.00% Interest Rate 8.00%2024-01-012024-12-310001508655Debt Investments Oil, Gas and Consumable Fuels TRP Assets, LLC First-lien loan ($54,834 par, due 12/2029) Initial Acquisition Date 12/20/2024 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.00%2025-01-012025-09-300001508655tslx:InvestmentAdvisoryAgreementMember2024-07-012024-09-300001508655tslx:TransportationMember2024-12-310001508655Debt Investments Internet Services Coupa Holdings, LLC First-lien loan ($42,975 par, due 2/2030) Initial Acquisition Date 2/27/2023 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.84%2024-12-310001508655Debt Investments Education Severin Acquisition, LLC Investment First-lien loan ($15,730 par, due 10/2031) Initial Acquisition Date 10/1/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.16% (incl. 2.25% PIK)2025-09-300001508655tslx:InternetServicesMemberus-gaap:DebtSecuritiesMember2024-12-310001508655Debt Investments Communications Aurelia Netherlands MidCo 2 B.V. Investment First-lien loan (EUR 32,904 par, due 5/2031) Initial Acquisition Date 5/22/2024 Reference Rate and Spread E + 4.75% Interest Rate 6.78%2025-09-300001508655Debt Investments Human Resource Support Services Elysian Finco Ltd. First-lien revolving loan (GBP 325 par, due 1/2028) Initial Acquisition Date 1/31/2021 Reference Rate and Spread S + 5.00% Interest Rate 9.70%2024-01-012024-12-310001508655Debt Investments Communications Celtra Technologies, Inc. Investment First-lien loan ($26,437 par, due 11/2026) Initial Acquisition Date 11/19/2021 Reference Rate and Spread SOFR + 5.75% Interest Rate 10.34%2024-12-310001508655Debt Investments Transportation Rail Acquisitions LLC Second-lien note ($20,696 par, due 1/2031) Initial Acquisition Date 1/27/2025 Reference Rate and Spread 13.75% Interest Rate 13.75% PIK2025-01-012025-09-300001508655tslx:MezzanineDebtInvestmentsMember2025-06-300001508655Debt Investments Financial Services CLGF Holdco 2, LLC Investment Second-lien loan ($3,357 par, due 11/2028) Initial Acquisition Date 11/07/2023 Reference Rate and Spread SOFR + 12.00% Interest Rate 16.33%2024-01-012024-12-310001508655Equity and Other Investments Pharmaceuticals Elysium BidCo Limited Convertible Preference Shares (4,976,563 Shares) Initial Acquisition Date 12/11/20242024-01-012024-12-310001508655Debt Investments Financial Services BTRS Holdings, Inc. Investment First-lien loan ($48,983 par, due 12/2028) Initial Acquisition Date 12/16/2022 Reference Rate and Spread SOFR + 7.25% Interest Rate 11.61%2024-01-012024-12-310001508655Debt Investments Transportation Ben Nevis Midco Limited First-lien loan ($3,635 par, due 3/2028) Initial Acquisition Date 3/26/2024 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.81%2024-12-310001508655country:IT2025-09-300001508655tslx:DelayedDrawMembertslx:VarinemGermanBidcoGmbhMember2025-09-300001508655us-gaap:CommonStockMember2025-04-012025-06-300001508655tslx:EquityAndOtherInvestmentsMember2025-09-300001508655Equity and Other Investments Hotel, Gaming and Leisure IRGSE Holding Corp. Class C-1 Units (8,800,000 units) Initial Acquisition Date 12/21/20182024-01-012024-12-310001508655Equity and Other Investments Internet Services Bayshore Intermediate #2, L.P. Co-Invest 2 Common Units (3,493,701 units) Initial Acquisition Date 10/1/20212024-01-012024-12-310001508655tslx:SecondLienDebtInvestmentsMember2025-07-012025-09-300001508655Other Investments Ares CLO Ltd, Series 2024-72A Investment Structured Credit ($3,500 par, due 7/2036) Initial Acquisition Date 8/7/2025 Reference Rate and Spread SOFR + 6.00% Interest Rate 10.32%2025-01-012025-09-300001508655Equity and Other Investments Hotel, Gaming and Leisure IRGSE Holding Corp. Class A Units (33,790,171 units) Initial Acquisition Date 12/21/20182024-01-012024-12-310001508655tslx:SportAllianceGmbhMembertslx:RevolverMember2024-12-310001508655us-gaap:FairValueInputsLevel3Membertslx:SecondLienDebtInvestmentsMember2024-01-012024-09-300001508655Debt Investments Business Services Mitnick Corporate Purchaser, Inc. Investment First-lien loan ($326 par, due 5/2029) Initial Acquisition Date 05/02/2022 Reference Rate and Spread SOFR + 4.50% Interest Rate 9.19%2024-01-012024-12-310001508655Debt Investments Business Services Azurite Intermediate Holdings, Inc. Investment First-lien loan ($42,750 par, due 3/2031) Initial Acquisition Date 03/19/2024 Reference Rate and Spread SOFR + 6.50% Interest Rate 10.86%2024-01-012024-12-310001508655Equity and Other Investments Healthcare Merative Topco L.P. Class A-1 Units (989,691 units) Initial Acquisition Date 6/30/20222025-09-300001508655Interest Rate Swap Company Receives 2.50% Company Pays SOFR + 2.17% Maturity Date 8/1/20262024-01-012024-12-310001508655tslx:TwentyTwentyNineNotesMember2025-01-012025-09-300001508655Debt Investments Hotel, Gaming and Leisure ASG II, LLC First-lien loan ($65,000 par, due 5/2028) Initial Acquisition Date 5/25/2022 Reference Rate and Spread SOFR + 6.40% Interest Rate 10.99%2024-01-012024-12-310001508655Debt Investments Business Services Wrangler TopCo, LLC Investment First-lien loan ($5,98 par, due 9/2029) Initial Acquisition Date 7/7/2023 Reference Rate and Spread SOFR + 6.00% Interest Rate 10.07%2025-01-012025-09-3000015086552024-07-012024-09-300001508655us-gaap:AdditionalPaidInCapitalMember2024-09-300001508655tslx:DelayedDrawMembertslx:BabylonFincoLimitedMember2025-09-300001508655Derivative Interest Rate Swap2025-09-300001508655Equity and Other Investments Business Services Warrior TopCo LP Class A Units (423,729 units) Initial Acquisition Date 7/7/20232025-09-300001508655Debt Investments Manufacturing ASP Unifrax Holdings, Inc. Second-lien note ($2,018 par, due 9/2029) Initial Acquisition Date 8/31/2023 Reference Rate and Spread 7.10% Interest Rate 7.10% (incl. 1.25% PIK)2025-01-012025-09-300001508655Debt Investments Human Resource Support Services bswift, LLC Investment First-lien loan ($44,569 par, due 11/2028) Initial Acquisition Date 11/7/2022 Reference Rate and Spread SOFR + 4.75% Interest Rate 9.07%2025-09-300001508655Equity and Other Investments Financial Services Oxford Square Capital Corp. Common Shares (1,620 shares) Initial Acquisition Date 8/5/20152025-09-300001508655tslx:TwentyTwentyEightNotesMember2023-08-142023-08-140001508655tslx:FirstLienDebtInvestmentsMember2025-09-300001508655Debt Investments Retail and Consumer Products American Achievement, Corp. First-lien loan ($1,331 par, due 9/2026) Initial Acquisition Date 6/10/2021 Reference Rate and Spread SOFR + 15.10 Interest Rate 19.38% (incl. 18.88% PIK)%2025-01-012025-09-300001508655Debt Investments Hotel, Gaming and Leisure QSR Acquisition Co. First-lien loan ($30,000 par, due 10/2030) Initial Acquisition Date 10/31/2024 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.84%2024-01-012024-12-310001508655us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMembertslx:TwoThousandTwentySixNotesMember2025-01-012025-09-300001508655us-gaap:AdditionalPaidInCapitalMember2025-03-310001508655Other Investments RR Ltd, Series 2021 -19A Structured Credit ($1,000 par, due 4/2040) Initial Acquisition Date 7/17/2025 Reference Rate and Spread SOFR + 4.70% Interest Rate 9.02%2025-09-300001508655us-gaap:FairValueInputsLevel3Member2024-07-012024-09-300001508655Equity and Other Investments Hotel, Gaming and Leisure IRGSE Holding Corp. Class A Units (33,790,171 units) Initial Acquisition Date 12/21/20182024-12-310001508655Controlled Affiliated Investments IRGSE Holding Corp.2024-12-310001508655Debt Investments Internet Services Lucidworks, Inc. First-lien loan ($9,477 par, due 2/2027) Initial Acquisition Date 2/11/2022 Reference Rate and Spread SOFR + 7.50% Interest Rate 11.86% (incl. 3.50% PIK)2024-01-012024-12-310001508655tslx:CrewlineBuyerIncMembertslx:RevolverAndEquityMember2024-12-310001508655Debt Investments Education Kangaroo Bidco AS Investment First-lien loan ($30,625 par, due 11/2030) Initial Acquisition Date 11/2/2023 Reference Rate and Spread SOFR + 6.25% Interest Rate 10.43%2025-01-012025-09-300001508655Equity and Other Investments Communications IntelePeer Holdings, Inc. Series D Warrants (106,592 warrants) Initial Acquisition Date 4/8/20212025-09-300001508655Debt Investments Hotel, Gaming and Leisure QSR Acquisition Co. First-lien loan ($30,000 par, due 10/2030) Initial Acquisition Date 10/31/2024 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.84%2024-12-310001508655tslx:DelayedDrawMembertslx:KangarooBidcoASMember2024-12-310001508655Debt Investments Financial Services Ibis Intermediate Co. Investment First-lien loan ($1,185 par, due 5/2027) Initial Acquisition Date 05/28/2021 Reference Rate and Spread SOFR + 4.65% Interest Rate 9.16%2024-01-012024-12-310001508655country:FIsrt:MaximumMember2024-12-310001508655Equity and Other Investments Business Services ReliaQuest, LLC Warrants (90,634 warrants) Initial Acquisition Date 12/20/20232024-01-012024-12-310001508655tslx:InterestRateSwapTwoMember2025-07-012025-09-300001508655tslx:InterestRateSwapOneMember2024-01-012024-09-300001508655tslx:InterestRateSwapOneMember2025-01-012025-09-300001508655Equity and Other Investments Healthcare Caris Life Sciences, Inc. Common Shares (1,210,369 shares) Initial Acquisition Date 10/13/20202025-09-300001508655tslx:StructuredCreditInvestmentsMember2024-12-310001508655Debt Investments Transportation Shiftmove GMBH First-lien loan (EUR 31,875 par, due 9/2030) Initial Acquisition Date 9/30/2024 Reference Rate and Spread E + 6.00% Interest Rate 8.12%2025-01-012025-09-300001508655us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMembertslx:MezzanineDebtInvestmentsMembersrt:MaximumMember2025-09-300001508655us-gaap:RetainedEarningsMember2025-03-310001508655Other Investments Neuberger Berman Loan Advisers CLO Ltd, Series 2019 -33A Structured Credit ($2,000 par, due 10/2039) Initial Acquisition Date 9/9/2025 Reference Rate and Spread SOFR + 5.50% Interest Rate 9.82%2025-01-012025-09-300001508655us-gaap:FairValueInputsLevel3Member2025-09-300001508655Equity and Other Investments Healthcare Raptor US Buyer II Corp. Ordinary Shares (13,176 shares) Initial Acquisition Date 3/24/20232025-01-012025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:EmploymentHeroHoldingsPtyLtdMember2024-12-310001508655tslx:PrimeRevenueIncMembertslx:RevolverMember2024-12-310001508655Equity and Other Investments Healthcare Raptor US Buyer II Corp. Ordinary Shares (13,176 shares) Initial Acquisition Date 3/24/20232024-01-012024-12-310001508655Equity and Other Investments Internet Services Lucidworks, Inc. Series F Preferred Shares (199,054 shares) Initial Acquisition Date 8/2/20192024-01-012024-12-310001508655Debt Investments Internet Services RainFocus, LLC First-lien loan ($62,653 par, due 4/2031) Initial Acquisition Date 4/25/2025 Reference Rate and Spread SOFR + 6.38% Interest Rate 10.25%2025-01-012025-09-300001508655us-gaap:BaseRateMemberus-gaap:RevolvingCreditFacilityMembersrt:MaximumMember2025-03-040001508655tslx:PharmaceuticalsMemberus-gaap:DebtSecuritiesMember2024-12-310001508655Equity and Other Investments Retail and Consumer Products Copper Bidco, LLC Trust Certificates (996,958 Certificates) Initial Acquisition Date 1/30/20212025-01-012025-09-300001508655tslx:DelayedDrawMembertslx:CirrusBidcoLtdMember2025-09-300001508655us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:MeasurementInputComparabilityAdjustmentMembertslx:EquityAndOtherInvestmentsMember2025-09-300001508655tslx:InvestmentAdvisoryAgreementMembertslx:LeverageWaiverMember2024-07-012024-09-300001508655Equity and Other Investments Financial Services Newport Parent Holdings, L.P. Class A-2 Units (131,569 units) Initial Acquisition Date 12/10/20202025-09-300001508655Other Investments Carlyle US CLO Ltd, Series 2017 -2A Investment Structured Credit ($2,500 par, due 7/2037) Initial Acquisition Date 9/3/2025 Reference Rate and Spread SOFR + 7.56% Interest Rate 11.89%2025-01-012025-09-300001508655Equity and Other Investments Business Services Dye & Durham, Ltd. Common Shares (126,968 shares) Initial Acquisition Date 12/3/20212024-12-310001508655Debt Investments Financial Services Passport Labs, Inc. Investment Convertible Promissory Note A ($1,086 par, due 8/2026) Initial Acquisition Date 3/2/2023 Reference Rate and Spread 8% Interest Rate 8%2025-01-012025-09-300001508655Debt Investments Internet Services Kryptona BidCo US, LLC First-lien loan (EUR 4,727 par, due 12/2031) Initial Acquisition Date 12/18/2024 Reference Rate and Spread E + 6.00% Interest Rate 8.02% (incl. 3.25% PIK)2025-01-012025-09-300001508655us-gaap:FairValueInputsLevel3Member2025-07-012025-09-300001508655Debt Investments Hotel, Gaming and Leisure Equinox Holdings, Inc. Second-lien loan ($2,347 par, due 6/2027) Initial Acquisition Date 3/13/2024 Reference Rate and Spread 16.00% Interest Rate 16.00% PIK2024-12-310001508655tslx:DelayedDrawMembertslx:BctoBluebillBuyerIncMember2025-09-300001508655Debt Investments Manufacturing Aptean, Inc. First-lien loan ($8,835 par, due 1/2031) Initial Acquisition Date 1/30/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.58%2024-12-310001508655Equity and Other Investments Business Services Mitnick TA Aggregator, L.P. Membership Interest (0.43% ownership) Initial Acquisition Date 5/2/20222025-09-300001508655tslx:BusinessServicesMemberus-gaap:DebtSecuritiesMember2024-12-310001508655us-gaap:DomesticCountryMember2024-12-310001508655Debt Investments Human Resource Support Services PayScale Holdings, Inc. Investment First-lien loan ($69,916 par, due 5/2027) Initial Acquisition Date 5/3/2019 Reference Rate and Spread SOFR + 5.85% Interest Rate 9.85%2025-09-3000015086552015-08-040001508655Debt Investments Retail and Consumer Products Bed Bath and Beyond Inc. Super-Priority DIP term loan ($3,575 par) Initial Acquisition Date 4/24/2023 Reference Rate and Spread SOFR + 7.90% Interest Rate 12.06%2025-01-012025-09-300001508655Debt Investments Other Boréal Bidco First-lien note (EUR 13,408 par, due 3/2032) Initial Acquisition Date 3/24/2025 Reference Rate and Spread E + 7.25% Interest Rate 9.25% (inclu. 5.75% PIK)2025-01-012025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:AlaskaBidcoOyMember2024-12-310001508655Debt Investments Other Sky Bidco S.p.A. First-lien note (EUR 6,368 par, due 10/2031) Initial Acquisition Date 10/29/2024 Reference Rate and Spread E + 5.00% Interest Rate 7.00%2025-01-012025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:ForeScoutTechnologiesIncMember2024-12-310001508655Debt Investments Transportation Ben Nevis Midco Limited First-lien loan ($5,000 par, due 3/2028) Initial Acquisition Date 3/26/2024 Reference Rate and Spread SOFR + 5.50% Interest Rate 9.78%2025-09-300001508655Other Investments Ares CLO Ltd, Series 2022-63A Investment Structured Credit ($2,500 par, due 10/2038) Initial Acquisition Date 8/7/2025 Reference Rate and Spread SOFR + 6.00% Interest Rate 10.28%2025-09-300001508655tslx:O2025Q1SupplementalDividendsMember2025-02-132025-02-130001508655Debt Investments Transportation Project44, Inc First-lien loan ($54,824 par, due 11/2027) Initial Acquisition Date 11/12/2021 Reference Rate and Spread SOFR + 6.35% Interest Rate 10.75%2024-01-012024-12-310001508655us-gaap:FairValueInputsLevel3Membertslx:MezzanineDebtInvestmentsMember2025-07-012025-09-300001508655Debt Investments Education Astra Acquisition Corp. Investment Second-lien loan ($40,804 par, due 10/2029) Initial Acquisition Date 10/22/2021 Reference Rate and Spread P + 9.88% Interest Rate 17.13%2025-01-012025-09-300001508655country:IT2024-12-310001508655us-gaap:FairValueInputsLevel3Membertslx:SecondLienDebtInvestmentsMember2025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:FullsteamOperationsLlcMember2025-09-300001508655Debt Investments Manufacturing Varinem German BidCo GMBH First-lien loan (EUR 4,392 par, due 7/2031) Initial Acquisition Date 7/11/2024 Reference Rate and Spread E + 4.75% Interest Rate 6.82%2025-01-012025-09-300001508655tslx:TwoThousandThirtyNotesMember2025-01-012025-09-300001508655tslx:AVSCHoldingCorpMembertslx:RevolverMember2025-09-300001508655tslx:SportAllianceGmbhMembertslx:RevolverMember2025-09-300001508655tslx:O2025Q3SupplementalDividendsMember2025-07-302025-07-300001508655tslx:TwoThousandThirtyNotesMember2025-02-012025-02-280001508655tslx:DelayedDrawAndRevolverMembertslx:EventusBuyerLLCMember2025-09-300001508655tslx:FirstLienDebtInvestmentsMember2024-01-012024-09-300001508655tslx:DelayedDrawMembertslx:FlightIntermediateHoldCoIncMember2024-12-310001508655Debt Investments Hotel, Gaming and Leisure Sport Alliance GmbH First-lien loan (EUR 4,494 par, due 4/2030) Initial Acquisition Date 4/10/2024 Reference Rate and Spread E + 7.25% Interest Rate 10.15% (incl. 3.88% PIK)2024-12-310001508655Debt Investments Financial Services Ibis Intermediate Co. Investment First-lien loan ($1,174 par, due 5/2027) Initial Acquisition Date 5/28/2021 Reference Rate and Spread SOFR + 4.65% Interest Rate 8.85%2025-01-012025-09-300001508655tslx:AzuriteIntermediateHoldingsIncMembertslx:RevolverAndEquityMember2024-12-310001508655Equity and Other Investments Automotive Clarience Technologies, LLC Class A Units (333 units) Initial Acquisition Date 2/12/20242024-12-310001508655Debt Investments Transportation Marcura Equities LTD First-lien revolving loan ($2,333 par, due 8/2029) Initial Acquisition Date 8/11/2023 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.33%2024-01-012024-12-310001508655Equity and Other Investments Hotel, Gaming and Leisure IRGSE Holding Corp. Class C-1 Units (8,800,000 units) Initial Acquisition Date 12/21/20182025-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:BlackScholesModelMembertslx:EquityAndOtherInvestmentsMember2024-12-310001508655Debt Investments Retail and Consumer Products Belk, Inc. First-lien loan ($47,500 par, due 7/2029) Initial Acquisition Date 7/22/2024 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.20%2025-09-300001508655Debt Investments Internet Services Hippo XPA Bidco AB Investment First-lien loan (SEK 211,306 par, due 2/2031) Initial Acquisition Date 2/20/2024 Reference Rate and Spread STIBOR + 6.50% Interest Rate 8.58% (incl. 3.50% PIK)2025-01-012025-09-300001508655Other Investments Ares CLO Ltd, Series 2022-64A Investment Structured Credit ($2,000 par, due 10/2039) Initial Acquisition Date 9/4/2025 Reference Rate and Spread SOFR + 6.50% Interest Rate 10.82%2025-01-012025-09-300001508655Debt Investments Financial Services CLGF Holdco 2, LLC Investment First-lien loan ($3,916 par, due 11/2027) Initial Acquisition Date 11/07/2023 Reference Rate and Spread SOFR + 8.50% Interest Rate 12.83%2024-12-310001508655tslx:TwoThousandTwentyEightNotesMember2025-09-300001508655Equity and Other Investments Healthcare Caris Life Sciences, Inc. Warrants (633,376 warrants) Initial Acquisition Date 9/21/20182024-01-012024-12-310001508655tslx:OtherMember2025-09-300001508655us-gaap:InterestRateSwapMembertslx:TwoThousandTwentyEightNotesMember2025-01-012025-09-300001508655Equity and Other Investments Communications Celtra Technologies, Inc. Class A Units (1,250,000 units) Initial Acquisition Date 11/19/20212024-01-012024-12-310001508655Debt Investments Retail and Consumer Products Neuintel, LLC First-lien loan ($54,204 par, due 12/2026) Initial Acquisition Date 12/20/2021 Reference Rate and Spread SOFR + 6.85% Interest Rate 11.01%2025-01-012025-09-300001508655tslx:AmericanAchievementCorpMembertslx:RevolverMember2024-12-310001508655tslx:FirstLienDebtInvestmentsMember2025-06-300001508655Debt Investments Business Services BCTO Ignition Purchaser, Inc. Investment First-lien holdco loan ($52,838 par, due 10/2030) Initial Acquisition Date 4/18/2023 Reference Rate and Spread SOFR + 7.50% Interest Rate 11.83% PIK2025-01-012025-09-300001508655country:NL2024-12-310001508655Equity and Other Investments Human Resource Support Services Axonify, Inc. Class A-1 Units (3,780,000 units) Initial Acquisition Date 5/5/20212025-01-012025-09-300001508655us-gaap:DebtSecuritiesMembertslx:RetailAndConsumerProductsMember2024-12-310001508655Equity and Other Investments Healthcare Caris Life Sciences, Inc. Series D Preferred Shares (1,240,740 shares) Initial Acquisition Date 5/11/20212024-01-012024-12-310001508655tslx:DelayedDrawMembertslx:TRPAssetsLLCMember2024-12-310001508655Equity and Other Investments Business Services Artisan Topco LP Class A Preferred Units (2,117,264 units) Initial Acquisition Date 11/7/20232025-09-300001508655Debt Investments Chemicals Erling Lux Bidco SARL Investment First-lien loan (EUR 11,549 par, due 9/2028) Initial Acquisition Date 9/6/2022 Reference Rate and Spread E + 7.00% Interest Rate 9.03%2025-01-012025-09-300001508655Debt Investments Healthcare BCTO Ace Purchaser, Inc. Investment First-lien loan ($70,154 par, due 11/2029) Initial Acquisition Date 11/23/2020 Reference Rate and Spread SOFR + 6.50% Interest Rate 11.01%2024-01-012024-12-310001508655country:NO2025-09-300001508655Debt Investments Business Services Artisan Bidco, Inc. Investment First-lien loan (EUR 17,425 par, due 11/2029) Initial Acquisition Date 11/7/2023 Reference Rate and Spread E + 7.00% Interest Rate 8.94%2025-09-300001508655Debt Investments Hotel, Gaming and Leisure Sport Alliance GmbH Investment First-lien loan (EUR 37,013 par, due 4/2030) Initial Acquisition Date 4/10/2024 Reference Rate and Spread E + 7.75% Interest Rate 9.66% (incl. 4.13% PIK)2025-01-012025-09-300001508655Debt Investments Financial Services Ibis US Blocker Co. Investment First-lien loan ($20,238 par, due 5/2028) Initial Acquisition Date 5/28/2021 Reference Rate and Spread SOFR + 9.50% Interest Rate 13.70% PIK2025-01-012025-09-300001508655tslx:TwoThousandTwentyEightNotesMember2025-01-012025-09-300001508655tslx:InterestRateSwapFourMember2024-07-012024-09-300001508655Debt Investments Oil, Gas and Consumable Fuels Mach Natural Resources LP First-lien loan ($4,625 par, due 12/2026) Initial Acquisition Date 12/28/2023 Reference Rate and Spread SOFR + 6.65% Interest Rate 10.98%2024-12-310001508655Debt Investments Internet Services Arrow Buyer, Inc. Investment First-lien loan ($36,744 par, due 7/2030) Initial Acquisition Date 6/30/2023 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.00%2025-01-012025-09-300001508655Equity and Other Investments Human Resource Support Services DaySmart Holdings, LLC Class A Units (166,811 units) Initial Acquisition Date 12/18/20202024-12-310001508655tslx:InterestRateSwapOneMember2025-07-012025-09-300001508655tslx:O2024Q2SupplementalDividendsMember2024-05-012024-05-010001508655tslx:SecondLienDebtInvestmentsMember2025-09-300001508655Other Investments Madison Park Funding Ltd, Series 2025 -65A Structured Credit ($4,400 par, due 7/2038) Initial Acquisition Date 8/19/2025 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.32%2025-09-300001508655Debt Investments Business Services Lynx BidCo Investment First-lien loan ($1,421 par, due 7/2031) Initial Acquisition Date 07/05/2024 Reference Rate and Spread SOFR + 7.11% Interest Rate 11.75% (incl. 5.61% PIK)2024-01-012024-12-310001508655us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMembertslx:MezzanineDebtInvestmentsMember2024-12-310001508655Debt Investments Hotel, Gaming and Leisure AVSC Holding Corp. First-lien loan ($45,167 par, due 12/2031) Initial Acquisition Date 12/5/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.36%2024-12-310001508655Debt Investments Business Services Price Fx Inc. Investment First-lien loan (EUR 910 par, due 10/2029) Initial Acquisition Date 10/27/2023 Reference Rate and Spread E + 7.00% Interest Rate 10.06%2024-12-310001508655us-gaap:FairValueInputsLevel3Membertslx:FirstLienDebtInvestmentsMembersrt:MinimumMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMember2025-09-300001508655Debt Investments Financial Services Payroc Buyer, LLC Investment Promissory Note ($6,000 par, due 9/2030) Initial Acquisition Date 9/30/2025 Reference Rate and Spread 5.50% Interest Rate 5.50% PIK2025-01-012025-09-300001508655tslx:OilGasAndConsumableFuelsMember2024-12-310001508655Other Investments Benefit Street Partners CLO Ltd, Series 2025-39A Investment Structured Credit ($1,725 par, due 4/2038) Initial Acquisition Date 7/16/2025 Reference Rate and Spread SOFR + 4.50% Interest Rate 8.76%2025-01-012025-09-300001508655Debt Investments Retail and Consumer Products PDI TA Holdings, Inc. First-lien loan ($20,335 par, due 2/2031) Initial Acquisition Date 2/1/2024 Reference Rate and Spread SOFR + 5.50% Interest Rate 9.81%2025-01-012025-09-3000015086552015-08-042015-08-040001508655us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMembertslx:TwoThousandTwentyEightNotesMember2025-01-012025-09-300001508655Equity and Other Investments Education RMCF IV CIV XXXV, LP. Partnership Interest (11.94% ownership) Initial Acquisition Date 6/8/20212024-12-310001508655Equity and Other Investments Healthcare Raptor US Buyer II Corp. Ordinary Shares (13,176 shares) Initial Acquisition Date 3/24/20232024-12-310001508655tslx:DelayedDrawMembertslx:ShiftmoveGmbhMember2025-09-300001508655Equity and Other Investments Business Services ReliaQuest, LLC Class A-2 Units (10,611 units) Initial Acquisition Date 6/21/20222024-01-012024-12-310001508655tslx:TwoThousandTwentyNineNotesMember2024-12-310001508655Debt Investments Education Severin Acquisition, LLC Investment First-lien loan ($15,046 par, due 10/2031) Initial Acquisition Date 10/01/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.36% (incl. 2.25% PIK)2024-01-012024-12-310001508655us-gaap:DebtSecuritiesMembertslx:HotelGamingAndLeisureMember2024-12-310001508655tslx:IRGSEHoldingCorpMembertslx:RevolverMember2024-12-310001508655Debt Investments Automotive Truck-Lite Co., LLC Investment First-lien loan ($40,134 par, due 2/2031) Initial Acquisition Date 02/13/2024 Reference Rate and Spread SOFR + 5.75% Interest Rate 10.27%2024-01-012024-12-3100015086552024-03-310001508655Debt Investments Human Resource Support Services Elysian Finco Ltd. Investment First-lien revolving loan (GBP 730 par, due 1/2028) Initial Acquisition Date 1/31/2021 Reference Rate and Spread S + 4.00% Interest Rate 7.97%2025-09-300001508655Debt Investments Retail and Consumer Products Bed Bath and Beyond Inc. Super-Priority DIP term loan ($3,575 par) Initial Acquisition Date 4/24/2023 Reference Rate and Spread SOFR + 7.90% Interest Rate 12.06%2025-09-300001508655tslx:DelayedDrawMembertslx:FlightIntermediateHoldCoIncMember2025-09-300001508655Debt Investments Retail and Consumer Products Tango Management Consulting, LLC First-lien loan ($49,169 par, due 6/2031) Initial Acquisition Date 6/25/2025 Reference Rate and Spread SOFR + 6.50% Interest Rate 10.50%2025-01-012025-09-300001508655tslx:OilGasAndConsumableFuelsMemberus-gaap:DebtSecuritiesMember2025-09-300001508655Debt Investments Retail and Consumer Products Bed Bath and Beyond Inc. Super-Priority DIP term loan ($3,988 par) Initial Acquisition Date 4/24/2023 Reference Rate and Spread SOFR + 7.90% Interest Rate 12.26%2024-01-012024-12-310001508655tslx:O2025Q3BaseDividendsMember2025-07-300001508655Debt Investments Human Resource Support Services Elysian Finco Ltd. Investment First-lien revolving loan (GBP 730 par, due 1/2028) Initial Acquisition Date 1/31/2021 Reference Rate and Spread S + 4.00% Interest Rate 7.97%2025-01-012025-09-300001508655Interest Rate Swap Company Receives 6.95% Company Pays SOFR + 2.99% Maturity Date 8/14/20282025-01-012025-09-300001508655tslx:AdministrationAgreementMemberus-gaap:GeneralAndAdministrativeExpenseMembertslx:AdviserMember2024-07-012024-09-300001508655tslx:CrewlineBuyerIncMembertslx:RevolverAndEquityMember2025-09-300001508655IRGSE Holding Corp2025-09-300001508655tslx:TwoThousandTwentySixNotesMember2021-02-012021-02-280001508655Equity and Other Investments Business Services ReliaQuest, LLC Class A-1 Units (637,713 units) Initial Acquisition Date 11/23/20212024-01-012024-12-310001508655Debt Investments Manufacturing Heritage Environmental Services, Inc. First-lien loan ($1,329 par, due 1/2031) Initial Acquisition Date 1/31/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.33%2024-01-012024-12-310001508655Debt Investments Healthcare Raptor US Buyer II Corp. Investment First-lien loan ($18,133 par, due 3/2029) Initial Acquisition Date 03/24/2023 Reference Rate and Spread SOFR + 6.25% Interest Rate 10.61%2024-01-012024-12-310001508655Interest Rate Swap Company Receives 2.5% Company Pays SOFR + 2.17% Maturity Date 8/1/20262025-09-300001508655Debt Investments Real Estate Cirrus (BidCo) Limited First-lien loan (GBP 675 par, due 8/2030) Initial Acquisition Date 8/9/2024 Reference Rate and Spread S + 6.25% Interest Rate 10.95% (incl. 3.00% PIK)2024-01-012024-12-310001508655Debt Investments Business Services Artisan Bidco, Inc. Investment First-lien loan (EUR 17,558 par, due 11/2029) Initial Acquisition Date 11/07/2023 Reference Rate and Spread E + 7.00% Interest Rate 10.05%2024-01-012024-12-310001508655Debt Investments Transportation Rail Acquisitions LLC First-lien loan ($25,281 par, due 1/2030) Initial Acquisition Date 1/27/2025 Reference Rate and Spread SOFR + 6.00% Interest Rate 10.31%2025-09-300001508655Debt Investments Retail and Consumer Products American Achievement, Corp. First-lien loan ($26,716 par, due 9/2026) Initial Acquisition Date 9/30/2015 Reference Rate and Spread SOFR + 7.35% Interest Rate 11.63% (incl. 11.13% PIK)2025-01-012025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:RapidDataGmbhUnternehmensberatungMember2025-09-300001508655tslx:TwentyTwentyFourNotesMember2025-01-012025-09-300001508655tslx:O2024Q1BaseDividendsMember2024-02-150001508655Equity and Other Investments Transportation RailTrac Holdings Inc. Warrants (3,059 warrants) Initial Acquisition Date 1/27/2025Equity and Other Investments Transportation RailTrac Holdings Inc. Warrants (3,059 warrants) Initial Acquisition Date 1/27/20252025-09-300001508655tslx:SMATechnologiesHoldingsLLCMembertslx:RevolverMember2024-12-310001508655Other Investments Palmer Square CLO Ltd, Series 2025 -1A Structured Credit ($2,250 par, due 4/2038) Initial Acquisition Date 8/21/2025 Reference Rate and Spread SOFR + 4.50% Interest Rate 8.81%2025-09-300001508655Debt Investments Pharmaceuticals Arrowhead Pharmaceuticals, Inc. First-lien loan ($28,438 par, due 8/2031) Initial Acquisition Date 8/7/2024 Reference Rate and Spread 15.00% Interest Rate 15.00%2025-01-012025-09-300001508655Other Investments Pikes Peak CLO Ltd, Series 2023 -14A Structured Credit ($3,000 par, due 7/2038) Initial Acquisition Date 7/30/2025 Reference Rate and Spread SOFR + 6.00% Interest Rate 10.33%2025-01-012025-09-300001508655Debt Investments Hotel, Gaming and Leisure Equinox Holdings, Inc. First-lien loan ($49,590 par, due 3/2029) Initial Acquisition Date 3/8/2024 Reference Rate and Spread SOFR + 8.25% Interest Rate 12.58% (incl. 4.13% PIK)2024-01-012024-12-310001508655Equity and Other Investments Business Services ReliaQuest, LLC Class A-1 Units (637,713 units) Initial Acquisition Date 11/23/20212024-12-310001508655Debt Investments Financial Services Ibis US Blocker Co. Investment First-lien loan ($18,290 par, due 5/2028) Initial Acquisition Date 05/28/2021 Reference Rate and Spread SOFR + 8.40% Interest Rate 12.91% PIK2024-01-012024-12-310001508655tslx:DelayedDrawAndRevolverMembertslx:UsaDebuskLlcMember2025-09-300001508655Debt Investments Pharmaceuticals Arrowhead Pharmaceuticals, Inc. First-lien loan ($33,059 par, due 8/2031) Initial Acquisition Date 8/7/2024 Reference Rate and Spread 15.00% Interest Rate 15.00%2024-01-012024-12-310001508655us-gaap:FinancialServicesSectorMember2025-09-300001508655Debt Investments Internet Services Kryptona BidCo US, LLC First-lien loan (EUR 4,608 par, due 12/2031) Initial Acquisition Date 12/18/2024 Reference Rate and Spread E + 5.75% Interest Rate 8.61%2024-01-012024-12-310001508655Debt Investments Insurance Disco Parent, Inc. First-lien loan ($5,319 par, due 3/2029) Initial Acquisition Date 3/30/2023 Reference Rate and Spread SOFR + 7.50% Interest Rate 12.01%2024-12-310001508655tslx:DelayedDrawAndRevolverMembertslx:ApteanIncMember2024-12-310001508655tslx:SouthMember2024-12-310001508655tslx:DelayedDrawMembertslx:BenNevisMidcoLimitedMember2025-09-300001508655Debt Investments Healthcare Eventus Buyer, LLC Investment First-lien revolving loan ($467 par, due 11/2030) Initial Acquisition Date 11/1/2024 Reference Rate and Spread SOFR + 5.50% Interest Rate 10.03%2024-12-3100015086552024-04-012024-06-300001508655Debt Investments Retail and Consumer Products Acosta First-lien loan ($13,925 par, due 8/2031) Initial Acquisition Date 8/20/2024 Reference Rate and Spread SOFR + 5.60% Interest Rate 9.60%2025-01-012025-09-300001508655Debt Investments Human Resource Support Services PayScale Holdings, Inc. First-lien loan ($70,465 par, due 5/2027) Initial Acquisition Date 5/3/2019 Reference Rate and Spread SOFR + 5.85% Interest Rate 10.18%2024-01-012024-12-310001508655Debt Investments Hotel, Gaming and Leisure Equinox Holdings, Inc. Investment Second-lien loan ($2,639 par, due 6/2027) Initial Acquisition Date 3/13/2024 Reference Rate and Spread 16.00% Interest Rate 16.00% PIK2025-01-012025-09-300001508655Equity and Other Investments Internet Services Lucidworks, Inc. Class A Units (2,333,333 Units) Initial Acquisition Date 4/16/20252025-09-300001508655Debt Investments Financial Services TradingScreen, Inc. Investment First-lien loan ($55,528 par, due 4/2027) Initial Acquisition Date 04/30/2021 Reference Rate and Spread SOFR + 6.35% Interest Rate 10.93%2024-12-310001508655Debt Investments Business Services Galileo Parent, Inc. Investment First-lien revolving loan ($4,615 par, due 5/2030 Initial Acquisition Date 5/3/2023 Reference Rate and Spread SOFR + 5.75% Interest Rate 10.08%2024-01-012024-12-310001508655tslx:EquityAndOtherInvestmentsMember2024-12-310001508655tslx:SecondLienDebtInvestmentsMember2024-06-300001508655Debt Investments Insurance Disco Parent, Inc. First-lien loan ($5,319 par, due 3/2029) Initial Acquisition Date 3/30/2023 Reference Rate and Spread SOFR + 7.50% Interest Rate 12.01%2024-01-012024-12-3100015086552025-01-012025-03-310001508655Other Investments Octagon 67 Ltd, Series 2023 -1A Structured Credit ($3,000 par, due 7/2038) Initial Acquisition Date 9/4/2025 Reference Rate and Spread SOFR + 7.41% Interest Rate 11.73%2025-09-300001508655Debt Investments Hotel, Gaming and Leisure Equinox Holdings, Inc. Investment First-lien loan ($50,158 par, due 3/2029) Initial Acquisition Date 3/8/2024 Reference Rate and Spread SOFR + 8.25% Interest Rate 12.25% (incl. 4.13% PIK)2025-01-012025-09-300001508655Debt Investments Human Resource Support Services PayScale Holdings, Inc. First-lien loan ($70,465 par, due 5/2027) Initial Acquisition Date 5/3/2019 Reference Rate and Spread SOFR + 5.85% Interest Rate 10.18%2024-12-310001508655Interest Rate Swap Company Pays SOFR + 1.53% Maturity Date 8/15/20302025-09-300001508655Debt Investments Communications X Holdings Inc. Investment First-lien loan ($988 par, due 10/2029) Initial Acquisition Date 4/28/2025 Reference Rate and Spread 9.50% Interest Rate 9.50%2025-01-012025-09-300001508655us-gaap:RevolvingCreditFacilityMembersrt:MinimumMember2025-01-012025-09-300001508655Debt Investments Financial Services Ibis Intermediate Co. Investment First-lien loan ($1,174 par, due 5/2027) Initial Acquisition Date 5/28/2021 Reference Rate and Spread SOFR + 4.65% Interest Rate 8.85%2025-09-300001508655Debt Investments Internet Services Lucidworks, Inc. First-lien loan ($9,477 par, due 2/2027) Initial Acquisition Date 2/11/2022 Reference Rate and Spread SOFR + 7.50% Interest Rate 11.86% (incl. 3.50% PIK)2024-12-310001508655Equity and Other Investments Internet Services Lucidworks, Inc. Class A Units (2,333,333 Units) Initial Acquisition Date 4/16/20252025-01-012025-09-300001508655Debt Investments Internet Services Coupa Holdings, LLC Investment First-lien loan ($42,651 par, due 2/2030) Initial Acquisition Date 2/27/2023 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.96%2025-09-300001508655us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMembertslx:TwoThousandTwentySixNotesMember2024-01-012024-12-310001508655Debt Investments Financial Services TradingScreen, Inc. Investment First-lien revolving loan ($899 par, due 5/2027) Initial Acquisition Date 11/01/2024 Reference Rate and Spread P + 5.25% Interest Rate 12.75%2024-01-012024-12-310001508655Equity and Other Investments Business Services Dye & Durham, Ltd. Common Shares (126,968 shares) Initial Acquisition Date 12/3/20212025-01-012025-09-300001508655Debt Investments Healthcare Raptor US Buyer II Corp. Investment First-lien loan ($18,133 par, due 3/2029) Initial Acquisition Date 03/24/2023 Reference Rate and Spread SOFR + 6.25% Interest Rate 10.61%2024-12-310001508655tslx:DelayedDrawMembertslx:PrimePayIntermediateLLCMember2025-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:EquityAndOtherInvestmentsMembertslx:AssetValuationWaterfallMember2024-12-310001508655Equity and Other Investments Business Services Insight Hideaway Aggregator, L.P. Partnership Interest (329,861 units) Initial Acquisition Date 3/19/20242025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:WranglerTopcoLlcMember2024-12-310001508655Debt Investments Manufacturing Skylark UK DebtCo Limited First-lien loan ($16,340 par, due 9/2030) Initial Acquisition Date 9/7/2023 Reference Rate and Spread SOFR + 5.66% Interest Rate 9.66%2025-09-300001508655tslx:GreenshootBidcoBVMembertslx:RevolverMember2024-12-310001508655tslx:MezzanineDebtInvestmentsMember2025-01-012025-09-300001508655Debt Investments Education EMS Linq, Inc. Investment First-lien loan ($56,216 par, due 12/2027) Initial Acquisition Date 12/22/2021 Reference Rate and Spread SOFR + 6.35% Interest Rate 10.55%2025-09-300001508655Equity and Other Investments Oil, Gas and Consumable Fuels Murchison Oil and Gas, LLC Preferred Units (13,355 units) Initial Acquisition Date 6/30/20222025-01-012025-09-300001508655Debt Investments Office Products USR Parent, Inc. ABL FILO term loan ($15,000 par, due 4/2027) Initial Acquisition Date 4/25/2022 Reference Rate and Spread SOFR + 6.50% Interest Rate 11.05%2024-01-012024-12-310001508655Interest Rate Swap Company Receives 6.95% Company Pays SOFR + 2.99% Maturity Date 8/14/20282024-12-310001508655Equity and Other Investments Business Services Sprinklr, Inc. Common Shares (283,499 shares) Initial Acquisition Date 6/24/20212025-01-012025-09-300001508655us-gaap:AdditionalPaidInCapitalMember2025-01-012025-03-310001508655tslx:DelayedDrawAndRevolverMembertslx:CoupaHoldingsLLCMember2025-09-300001508655Debt Investments Hotel, Gaming and Leisure IRGSE Holding Corp. Investment First-lien revolving loan ($45,592 par, due 6/2026) Initial Acquisition Date 12/21/2018 Reference Rate and Spread SOFR + 9.65% Interest Rate 13.83%2025-01-012025-09-300001508655tslx:O2024Q1BaseDividendsMember2024-02-152024-02-150001508655country:GB2024-12-310001508655tslx:O2024Q3BaseDividendsMember2024-07-312024-07-310001508655Debt Investments Transportation Ben Nevis Midco Limited First-lien loan ($5,000 par, due 3/2028) Initial Acquisition Date 3/26/2024 Reference Rate and Spread SOFR + 5.50% Interest Rate 9.78%2025-01-012025-09-300001508655Debt Investments Business Services Dye & Durham Corp. Investment First-lien loan ($955 par, due 4/2031) Initial Acquisition Date 04/04/2024 Reference Rate and Spread SOFR + 4.10% Interest Rate 8.43%2024-12-310001508655tslx:DelayedDrawAndRevolverMembertslx:SeverinAcquisitionLLCMember2024-12-310001508655IRGSE Holding Corp2025-01-012025-09-300001508655Equity and Other Investments Education Astra 2L Holdings II LLC Membership Interest (10.17% ownership) Initial Acquisition Date 1/13/20222024-12-310001508655Debt Investments Internet Services LeanTaaS Holdings, Inc. First-lien loan ($56,156 par, due 7/2028) Initial Acquisition Date 7/12/2022 Reference Rate and Spread SOFR + 7.50% Interest Rate 11.83%2024-01-012024-12-310001508655tslx:DelayedDrawAndRevolverMembertslx:PdiTaHoldingsIncMember2024-12-310001508655Debt Investments Healthcare Merative L.P. Investment First-lien loan ($70,103 par, due 6/2028) Initial Acquisition Date 06/30/2022 Reference Rate and Spread SOFR + 7.25% Interest Rate 11.58%2024-01-012024-12-310001508655Debt Investments Communications X Holdings Inc. Investment First-lien loan ($9,362 par, due 10/2029) Initial Acquisition Date 2/5/2025 Reference Rate and Spread SOFR + 6.65% Interest Rate 10.96%2025-01-012025-09-300001508655Equity and Other Investments Healthcare Merative Topco L.P. Class A-1 Units (989,691 units) Initial Acquisition Date 6/30/20222025-01-012025-09-300001508655tslx:FirstLienDebtInvestmentsMember2024-06-300001508655tslx:DelayedDrawAndRevolverMembertslx:BCTOAcePurchaserIncMember2025-09-300001508655Debt Investments Manufacturing Skylark UK DebtCo Limited First-lien loan ($16,340 par, due 9/2030) Initial Acquisition Date 9/7/2023 Reference Rate and Spread SOFR + 5.66% Interest Rate 9.99%2024-12-310001508655tslx:EquityAndOtherInvestmentsMember2025-01-012025-09-300001508655tslx:TwoThousandTwentyFourSwapTransactionMember2025-01-012025-09-300001508655Other Investments Goldentree Loan Management US CLO Ltd, Series 2023 -17A Structured Credit ($3,000 par, due 1/2039) Initial Acquisition Date 7/16/2025 Reference Rate and Spread SOFR + 5.40% Interest Rate 9.73%2025-09-300001508655Debt Investments Oil, Gas and Consumable Fuels TRP Assets, LLC First-lien loan ($54,834 par, due 12/2029) Initial Acquisition Date 12/20/2024 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.00%2025-09-300001508655Equity and Other Investments Healthcare Caris Life Sciences, Inc. Warrants (569,991 warrants) Initial Acquisition Date 4/2/20202024-01-012024-12-310001508655Debt Investments Transportation Project44, Inc First-lien loan ($54,618 par, due 11/2027) Initial Acquisition Date 11/12/2021 Reference Rate and Spread SOFR + 6.35% Interest Rate 10.51%2025-09-300001508655Equity and Other Investments Internet Services SMA Technologies Holdings, LLC Class B Units (1,124,813 units) Initial Acquisition Date 11/21/20222025-01-012025-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:MezzanineDebtInvestmentsMember2024-07-012024-09-300001508655Debt Investments Human Resource Support Services HireVue, Inc. First-lien loan ($53,572 par, due 5/2029) Initial Acquisition Date 5/3/2023 Reference Rate and Spread SOFR + 6.75% Interest Rate 11.34%2024-01-012024-12-310001508655tslx:IRGSEHoldingCorpMembertslx:RevolverMember2025-09-300001508655Equity and Other Investments Financial Services TradingScreen, Inc. Class A Units (600,000 units) Initial Acquisition Date 5/14/20212025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:MarcuraEquitiesLtdMember2025-09-300001508655Debt Investments Manufacturing Avalara, Inc. First-lien loan ($38,636 par, due 10/2028) Initial Acquisition Date 10/19/2022 Reference Rate and Spread SOFR + 6.25% Interest Rate 10.58%2024-12-310001508655tslx:AutomotiveMember2024-12-310001508655us-gaap:LetterOfCreditMember2025-09-300001508655tslx:EquityAndOtherInvestmentsMembertslx:StructuredCreditMember2024-12-310001508655us-gaap:FairValueInputsLevel3Membertslx:SecondLienDebtInvestmentsMembersrt:WeightedAverageMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMember2024-12-310001508655Debt Investments Business Services Galileo Parent, Inc. Investment First-lien revolving loan ($6,635 par, due 5/2030) Initial Acquisition Date 5/3/2023 Reference Rate and Spread SOFR + 5.75% Interest Rate 9.75%2025-09-300001508655Debt Investments Chemicals Erling Lux Bidco SARL Investment First-lien loan (GBP 19,591 par, due 9/2028) Initial Acquisition Date 09/06/2022 Reference Rate and Spread S + 7.00% Interest Rate 11.70%2024-12-310001508655Debt Investments Business Services Elements Finco Limited Investment First-lien loan ($4,069 par, due 4/2031) Initial Acquisition Date 04/29/2024 Reference Rate and Spread SOFR + 4.97% Interest Rate 9.33% (incl. 1.97% PIK)2024-01-012024-12-310001508655us-gaap:InvestmentUnaffiliatedIssuerMember2024-01-012024-09-300001508655Equity and Other Investments Retail and Consumer Products Copper Bidco, LLC Trust Certificates (996,958 Certificates) Initial Acquisition Date 1/30/20212024-01-012024-12-310001508655Debt Investments Internet Services Coupa Holdings, LLC Investment First-lien loan ($42,651 par, due 2/2030) Initial Acquisition Date 2/27/2023 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.96%2025-01-012025-09-300001508655Debt Investments Manufacturing Varinem German BidCo GMBH First-lien loan (EUR 12,696 par, due 7/2031) Initial Acquisition Date 7/11/2024 Reference Rate and Spread E + 5.50% Interest Rate 7.57%2025-09-300001508655Debt Investments Healthcare Edge Bidco B.V. Investment First-lien loan (EUR 5,947 par, due 2/2029) Initial Acquisition Date 02/24/2023 Reference Rate and Spread E + 6.75% Interest Rate 9.43%2024-01-012024-12-310001508655Debt Investments Pharmaceuticals Arrowhead Pharmaceuticals, Inc. First-lien loan ($33,059 par, due 8/2031) Initial Acquisition Date 8/7/2024 Reference Rate and Spread 15.00% Interest Rate 15.00%2024-12-310001508655Equity and Other Investments Human Resource Support Services Axonify, Inc. Class A-1 Units (3,780,000 units) Initial Acquisition Date 5/5/20212024-12-310001508655us-gaap:CommonStockMember2024-12-310001508655Other Investments Madison Park Funding Ltd, Series 2025 -65A Structured Credit ($4,400 par, due 7/2038) Initial Acquisition Date 8/19/2025 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.32%2025-01-012025-09-300001508655tslx:RaptorUsBuyerIiCorpMembertslx:RevolverMember2024-12-310001508655tslx:InterestRateSwapThreeMember2024-01-012024-09-300001508655Other Investments Carlyle US CLO Ltd, Series 2021 -1A Structured Credit ($3,225 par, due 1/2040) Initial Acquisition Date 8/7/2025 Reference Rate and Spread SOFR + 7.30% Interest Rate 11.62%2025-09-300001508655country:DE2024-12-310001508655Debt Investments Manufacturing Skylark UK DebtCo Limited First-lien loan (GBP 22,186 par, due 9/2030) Initial Acquisition Date 9/7/2023 Reference Rate and Spread S + 5.66% Interest Rate 9.63%2025-01-012025-09-300001508655Debt Investments Human Resource Support Services Employment Hero Holdings Pty Ltd. Investment First-lien loan (AUD 60,000 par, due 12/2026) Initial Acquisition Date 12/6/2021 Reference Rate and Spread B + 6.25% Interest Rate 9.90%2025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:RailAcquisitionsLLCMember2024-12-310001508655tslx:AvalaraIncMembertslx:RevolverMember2024-12-310001508655us-gaap:InterestRateSwapMembertslx:TwoThousandTwentySixNotesMember2024-01-012024-09-300001508655Debt Investments Retail and Consumer Products American Achievement, Corp. First-lien loan ($1,341 par, due 9/2026) Initial Acquisition Date 6/10/2021 Reference Rate and Spread SOFR + 15.10% Interest Rate 19.65% (incl. 19.15% PIK)2024-12-310001508655tslx:RetailAndConsumerProductsMember2024-12-310001508655Debt Investments Internet Services Bayshore Intermediate #2, L.P. First-lien loan ($40,663 par, due 10/2028) Initial Acquisition Date 10/1/2021 Reference Rate and Spread SOFR + 6.25% Interest Rate 10.77% (incl. 3.38% PIK)2024-01-012024-12-310001508655Debt Investments Manufacturing Skylark UK DebtCo Limited First-lien loan (EUR 4,851 par, due 9/2030) Initial Acquisition Date 9/7/2023 Reference Rate and Spread E + 5.66% Interest Rate 8.35%2024-12-310001508655Equity and Other Investments Business Services Mitnick TA Aggregator, L.P. Membership Interest (0.43% ownership) Initial Acquisition Date 5/2/20222025-01-012025-09-300001508655Debt Investments Healthcare BCTO Ace Purchaser, Inc. Investment Second-lien loan ($6,596 par, due 1/2030) Initial Acquisition Date 01/23/2023 Reference Rate and Spread SOFR + 10.70% Interest Rate 15.33% PIK2024-01-012024-12-310001508655us-gaap:FairValueInputsLevel3Membertslx:SecondLienDebtInvestmentsMember2025-07-012025-09-300001508655Equity and Other Investments Communications Celtra Technologies, Inc. Class A Units (1,250,000 units) Initial Acquisition Date 11/19/20212024-12-310001508655Equity and Other Investments Hotel, Gaming and Leisure IRGSE Holding Corp. Class C-1 Units (8,800,000 units) Initial Acquisition Date 12/21/20182024-12-310001508655Debt Investments Financial Services TradingScreen, Inc. Investment First-lien loan ($55,102 par, due 4/2027) Initial Acquisition Date 4/30/2021 Reference Rate and Spread SOFR + 6.35% Interest Rate 10.66%2025-09-300001508655Debt Investments Internet Services Khoros, LLC Investment First-lien loan ($11,682 par, due 5/2030) Initial Acquisition Date 5/23/2025 Reference Rate and Spread 10.00% Interest Rate 10.00%2025-09-300001508655Debt Investments Retail and Consumer Products American Achievement, Corp. First-lien loan ($1,341 par, due 9/2026) Initial Acquisition Date 6/10/2021 Reference Rate and Spread SOFR + 15.10% Interest Rate 19.65% (incl. 19.15% PIK)2024-01-012024-12-310001508655Debt Investments Chemicals Erling Lux Bidco SARL Investment First-lien loan (EUR 11,549 par, due 9/2028) Initial Acquisition Date 9/6/2022 Reference Rate and Spread E + 7.00% Interest Rate 9.03%2025-09-300001508655country:AU2025-09-300001508655Debt Investments Business Services ForeScout Technologies, Inc. Investment First-lien loan ($5,597 par, due 5/2031) Initial Acquisition Date 05/24/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.52%2024-01-012024-12-310001508655Debt Investments Other Sky Bidco S.p.A. First-lien note ($14,085 par, due 10/2031) Initial Acquisition Date 10/29/2024 Reference Rate and Spread SOFR + 5.25% Interest Rate 10.51%2024-01-012024-12-310001508655tslx:RevolvingCreditFacilityMaturityOnMarch42025Member2025-03-042025-03-040001508655tslx:PharmaceuticalsMembertslx:EquityAndOtherInvestmentsMember2024-12-310001508655Equity and Other Investments Healthcare Merative Topco L.P. Class A-1 Units (989,691 units) Initial Acquisition Date 6/30/20222024-01-012024-12-310001508655Debt Investments Business Services ForeScout Technologies, Inc. Investment First-lien loan ($5,555 par, due 5/2031) Initial Acquisition Date 5/24/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.20%2025-09-300001508655tslx:InterestRateSwapFourMember2024-01-012024-09-300001508655Debt Investments Education EMS Linq, Inc. Investment First-lien revolving loan ($2,635 par, due 12/2027) Initial Acquisition Date 12/22/2021 Reference Rate and Spread SOFR + 6.35% Interest Rate 10.55%2025-09-300001508655Equity and Other Investments Financial Services Newport Parent Holdings, L.P. Class A-2 Units (131,569 units) Initial Acquisition Date 12/10/20202024-01-012024-12-310001508655Equity and Other Investments Business Services Sprinklr, Inc. Common Shares (283,499 shares) Initial Acquisition Date 6/24/20212024-01-012024-12-310001508655us-gaap:RealEstateMembersrt:MaximumMember2024-12-310001508655Debt Investments Business Services USA DeBusk, LLC Investment First-lien loan ($6,969 par, due 4/2031) Initial Acquisition Date 4/30/2024 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.45%2025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:UsaDebuskLlcMember2024-12-310001508655Equity and Other Investments Human Resource Support Services bswift, LLC Class A-1 Units (2,393,509 units) Initial Acquisition Date 11/7/20222025-01-012025-09-300001508655Debt Investments Transportation Marcura Equities LTD First-lien revolving loan ($1,667 par, due 8/2029) Initial Acquisition Date 8/11/2023 Reference Rate and Spread SOFR + 7.50% Interest Rate 11.50%2025-09-300001508655Debt Investments Healthcare Edge Bidco B.V. Investment First-lien loan (EUR 5,918 par, due 2/2029) Initial Acquisition Date 2/24/2023 Reference Rate and Spread E + 6.50% Interest Rate 8.50%2025-09-300001508655tslx:OfficeProductsMember2025-09-300001508655country:FR2025-09-300001508655Debt Investments Transportation Shiftmove GMBH First-lien loan (EUR 31,875 par, due 9/2030) Initial Acquisition Date 9/30/2024 Reference Rate and Spread E + 6.00% Interest Rate 8.68%2024-01-012024-12-310001508655Debt Investments Retail and Consumer Products American Achievement, Corp. Subordinated note ($4,740 par, due 9/2026) Initial Acquisition Date 3/16/2021 Reference Rate and Spread SOFR + 1.15% Interest Rate 5.74%2024-01-012024-12-310001508655us-gaap:AdditionalPaidInCapitalMember2024-03-310001508655Debt Investments Business Services ForeScout Technologies, Inc. Investment First-lien loan ($5,597 par, due 5/2031) Initial Acquisition Date 05/24/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.52%2024-12-310001508655tslx:TwoThousandTwentyNineNotesMember2024-01-012024-01-310001508655us-gaap:InterestRateSwapMembertslx:TwoThousandTwentyNineNotesMember2025-01-012025-09-300001508655Debt Investments Transportation Marcura Equities LTD First-lien revolving loan ($41,074 par, due 8/2029) Initial Acquisition Date 8/11/2023 Reference Rate and Spread SOFR + 8.25% Interest Rate 12.25% (incl. 4.25% PIK)2025-01-012025-09-300001508655Debt Investments Healthcare Eventus Buyer, LLC Investment First-lien revolving loan ($1,867 par, due 11/2030) Initial Acquisition Date 11/1/2024 Reference Rate and Spread SOFR + 5.50% Interest Rate 9.50%2025-01-012025-09-300001508655Equity and Other Investments Hotel, Gaming and Leisure IRGSE Holding Corp. Class A Units (33,790,171 units) Initial Acquisition Date 12/21/20182025-09-300001508655Debt Investments Manufacturing Heritage Environmental Services, Inc. First-lien loan ($12,284 par, due 1/2031) Initial Acquisition Date 1/31/2024 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.84%2024-12-310001508655tslx:HumanResourceSupportServicesMemberus-gaap:DebtSecuritiesMember2024-12-310001508655Other Investments Goldentree Loan Management US CLO Ltd, Series 2022 -16A Structured Credit ($5,000 par, due 1/2038) Initial Acquisition Date 9/16/2025 Reference Rate and Spread SOFR + 4.50% Interest Rate 8.83%2025-09-300001508655Other Investments Neuberger Berman Loan Advisers CLO Ltd, Series 2017 -24A Structured Credit ($1,000 par, due 10/2038) Initial Acquisition Date 8/25/2025 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.33%2025-01-012025-09-300001508655Debt Investments Financial Services Volante Technologies, Inc. Investment First-lien loan ($3,473 par, due 9/2028) Initial Acquisition Date 9/29/2023 Reference Rate and Spread 16.50% Interest Rate 16.50% PIK2025-09-300001508655Debt Investments Retail and Consumer Products Cordance Operations, LLC First-lien loan ($63,878 par, due 7/2028) Initial Acquisition Date 7/25/2022 Reference Rate and Spread SOFR + 8.65% Interest Rate 12.85%2025-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:FirstLienDebtInvestmentsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMember2024-12-310001508655Other Investments Riverbank Park CLO Ltd, Series 2024 -1A Structured Credit ($4,500 par, due 1/2038) Initial Acquisition Date 7/29/2025 Reference Rate and Spread SOFR + 4.80% Interest Rate 9.12%2025-01-012025-09-300001508655Debt Investments Business Services Wrangler TopCo, LLC Investment First-lien loan ($5,98 par, due 9/2029) Initial Acquisition Date 7/7/2023 Reference Rate and Spread SOFR + 6.00% Interest Rate 10.07%2025-09-300001508655Cash collateral2025-09-300001508655Equity and Other Investments Human Resource Support Services Employment Hero Holdings Pty Ltd. Series E Preferred Shares (113,250 shares) Initial Acquisition Date 3/1/20222024-12-310001508655tslx:O2024Q1SupplementalDividendsMember2024-02-152024-02-150001508655tslx:InvestmentAdvisoryAgreementMember2025-01-012025-09-300001508655us-gaap:ChemicalsSectorMemberus-gaap:DebtSecuritiesMember2025-09-300001508655us-gaap:OverAllotmentOptionMember2024-03-052024-03-050001508655Equity and Other Investments Pharmaceuticals TherapeuticsMD, Inc. Warrants (14,256 warrants) Initial Acquisition Date 8/5/20202025-09-300001508655tslx:DiscoParentIncMembertslx:RevolverMember2025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:MeritSoftwareFinanceHoldingsLlcMember2024-12-310001508655Debt Investments Oil, Gas and Consumable Fuels Laramie Energy, LLC First-lien loan ($27,317 par, due 2/2027) Initial Acquisition Date 2/21/2023 Reference Rate and Spread SOFR + 7.10% Interest Rate 11.26%2025-09-300001508655country:AU2024-12-310001508655Equity and Other Investments Healthcare Caris Life Sciences, Inc. Series C Preferred Shares (1,915,114 shares) Initial Acquisition Date 10/13/20202024-12-310001508655Debt Investments Healthcare Symplr Software Inc. Investment First-lien loan ($636 par, due 12/2027) Initial Acquisition Date 4/4/2025 Reference Rate and Spread SOFR + 4.60% Interest Rate 8.91%2025-01-012025-09-300001508655us-gaap:AdditionalPaidInCapitalMember2023-12-310001508655Debt Investments Manufacturing Skylark UK DebtCo Limited First-lien loan ($16,340 par, due 9/2030) Initial Acquisition Date 9/7/2023 Reference Rate and Spread SOFR + 5.66% Interest Rate 9.99%2024-01-012024-12-310001508655Debt Investments Business Services Dye & Durham Corp. Investment First-lien loan ($947 par, due 4/2031) Initial Acquisition Date 4/4/2024 Reference Rate and Spread SOFR + 4.35% Interest Rate 8.35%2025-01-012025-09-300001508655tslx:EquityAndOtherInvestmentsMembertslx:HotelGamingAndLeisureMember2025-09-300001508655Debt Investments Business Services ExtraHop Networks, Inc. Investment First-lien loan ($76,496 par, due 7/2027) Initial Acquisition Date 7/22/2021 Reference Rate and Spread SOFR + 6.60% Interest Rate 10.76%2025-01-012025-09-300001508655tslx:EquityAndOtherInvestmentsMember2024-12-310001508655Debt Investments Financial Services BTRS Holdings, Inc. Investment First-lien loan ($48,983 par, due 12/2028) Initial Acquisition Date 12/16/2022 Reference Rate and Spread SOFR + 7.25% Interest Rate 11.61%2024-12-310001508655tslx:InvestmentAdvisoryAgreementMembersrt:ScenarioForecastMember2025-11-012025-11-300001508655tslx:ElectronicsMember2025-09-300001508655Debt Investments Human Resource Support Services HireVue, Inc. Investment First-lien loan ($53,166 par, due 5/2029) Initial Acquisition Date 5/3/2023 Reference Rate and Spread SOFR + 6.75% Interest Rate 11.06%2025-01-012025-09-300001508655Debt Investments Pharmaceuticals Apellis Pharmaceuticals, Inc. First-lien loan ($19,737 par, due 5/2030) Initial Acquisition Date 5/13/2024 Reference Rate and Spread SOFR + 5.75% Interest Rate 10.08%2024-01-012024-12-310001508655Debt Investments Human Resource Support Services Hire Vue, Inc. First-lien revolving loan ($4,378 par, due 5/2029) Initial Acquisition Date 5/3/2023 Reference Rate and Spread SOFR + 6.75% Interest Rate 11.30%2024-01-012024-12-310001508655Equity and Other Investments Healthcare Caris Life Sciences, Inc. Warrants (633,376 warrants) Initial Acquisition Date 9/21/20182024-12-310001508655tslx:InvestmentAdvisoryAgreementMembertslx:FutureRealizedCapitalGainsPriorToAprilFirstTwoThousandFourteenMember2020-03-310001508655Debt Investments Healthcare SL Buyer Corp. Investment First-lien loan ($33,416 par, due 7/2029) Initial Acquisition Date 07/07/2023 Reference Rate and Spread SOFR + 7.75% Interest Rate 12.34%2024-01-012024-12-310001508655Debt Investments Pharmaceuticals Apellis Pharmaceuticals, Inc. First-lien loan ($19,737 par, due 5/2030) Initial Acquisition Date 5/13/2024 Reference Rate and Spread SOFR + 5.75% Interest Rate 9.75%2025-09-300001508655tslx:TwentyTwentyEightNotesMember2025-01-012025-09-300001508655Interest Rate Swap Company Receives 6.95% Company Pays SOFR + 2.99% Maturity Date 8/14/20282024-01-012024-12-310001508655Debt Investments Internet Services Higher Logic, LLC First-lien loan ($50,054 par, due 1/2025) Initial Acquisition Date 6/18/2018 Reference Rate and Spread SOFR + 6.25% Interest Rate 10.61%2024-01-012024-12-310001508655tslx:TwoThousandTwentyNineNotesMember2024-01-310001508655Equity and Other Investments Internet Services Piano Software, Inc. Series C-1 Preferred Shares (418,527 shares) Initial Acquisition Date 12/22/20212025-09-300001508655tslx:GalileoParentincMembertslx:RevolverMember2024-12-310001508655tslx:RevolverMembertslx:AVSCHoldingCorpMember2024-12-310001508655tslx:DelayedDrawMembertslx:ApellisPharmaceuticalsIncMember2024-12-310001508655tslx:EducationMemberus-gaap:DebtSecuritiesMember2024-12-310001508655tslx:MezzanineDebtInvestmentsMember2024-06-300001508655Equity and Other Investments Business Services ReliaQuest, LLC Warrants (90,634 warrants) Initial Acquisition Date 12/20/20232024-12-310001508655Debt Investments Retail and Consumer Products PDI TA Holdings, Inc. First-lien loan ($18,133 par, due 2/2031) Initial Acquisition Date 2/1/2024 Reference Rate and Spread SOFR + 5.50% Interest Rate 10.09%2024-12-310001508655Debt Investments Manufacturing Varinem German BidCo GMBH First-lien loan (EUR 12,696 par, due 7/2031) Initial Acquisition Date 7/11/2024 Reference Rate and Spread E + 5.75% Interest Rate 9.42%2024-01-012024-12-310001508655tslx:EMSLinqIncMembertslx:RevolverMember2025-09-300001508655Debt Investments Pharmaceuticals Apellis Pharmaceuticals, Inc. First-lien loan ($19,737 par, due 5/2030) Initial Acquisition Date 5/13/2024 Reference Rate and Spread SOFR + 5.75% Interest Rate 9.75%2025-01-012025-09-300001508655tslx:InvestmentAdvisoryAgreementMembertslx:LeverageWaiverMember2025-01-012025-09-300001508655Equity and Other Investments Business Services Sprinklr, Inc. Common Shares (283,499 shares) Initial Acquisition Date 6/24/20212024-12-310001508655tslx:RevolvingCreditFacilityMaturityOnApril242029Member2024-04-240001508655Debt Investments Business Services BCTO Ignition Purchaser, Inc. Investment First-lien holdco loan ($36,231 par, due 10/2030) Initial Acquisition Date 04/18/2023 Reference Rate and Spread SOFR + 8.50% Interest Rate 13.13% PIK2024-12-310001508655tslx:DelayedDrawAndRevolverMembertslx:TangoManagementConsultingTwoMember2024-12-310001508655tslx:EdgeBidcoBVMembertslx:DelayedDrawAndRevolverMember2024-12-310001508655tslx:DelayedDrawAndRevolverMembertslx:CoupaHoldingsLLCMember2024-12-310001508655us-gaap:FairValueInputsLevel3Membertslx:FirstLienDebtInvestmentsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMembersrt:MaximumMember2025-09-300001508655Equity and Other Investments Hotel, Gaming and Leisure IRGSE Holding Corp. Class A Units (33,790,171 units) Initial Acquisition Date 12/21/20182025-01-012025-09-300001508655Equity and Other Investments Education Astra 2L Holdings II LLC Membership Interest (10.17% ownership) Initial Acquisition Date 1/13/20222025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:TruckLiteCoLlcMember2024-12-310001508655Debt Investments Retail and Consumer Products Bed Bath and Beyond Inc. ABL FILO term loan ($8,994 par, due 8/2027) Initial Acquisition Date 9/2/2022 Reference Rate and Spread SOFR + 9.90% Interest Rate 14.26%2024-01-012024-12-310001508655Equity and Other Investments Automotive Clarience Technologies, LLC Class A Units (333 units) Initial Acquisition Date 2/12/20242024-01-012024-12-310001508655tslx:O2025Q2BaseDividendsMember2025-04-302025-04-300001508655tslx:DelayedDrawAndRevolverMembertslx:ElysianFincoLtdMember2024-12-310001508655tslx:TwoThousandTwentyFourTwentySixTwentyEightTwentyNineAndTwentyThirtyNotesMember2024-07-012024-09-300001508655Debt Investments Internet Services Bayshore Intermediate #2, L.P. Investment First-lien loan ($41,873 par, due 10/2028) Initial Acquisition Date 10/1/2021 Reference Rate and Spread SOFR + 5.50% Interest Rate 9.50% (incl. 3.00% PIK)2025-01-012025-09-300001508655Other Investments Neuberger Berman CLO Ltd, Series 2017 -16SA Structured Credit ($4,000 par, due 4/2039) Initial Acquisition Date 7/28/2025 Reference Rate and Spread SOFR + 4.90% Interest Rate 9.22%2025-09-300001508655Debt Investments Transportation Marcura Equities LTD First-lien loan ($33,874 par, due 8/2029) Initial Acquisition Date 8/11/2023 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.33%2024-01-012024-12-310001508655Debt Investments Financial Services GreenShoot BidCo B.V Investment First-lien loan (EUR 5,107 par, due 5/2030) Initial Acquisition Date 05/28/2024 Reference Rate and Spread E + 5.75% Interest Rate 8.66%2024-12-310001508655us-gaap:DebtSecuritiesMember2025-09-300001508655Debt Investments Other Omnigo Software, LLC First-lien loan ($39,533 par, due 3/2027) Initial Acquisition Date 3/31/2021 Reference Rate and Spread SOFR + 5.50% Interest Rate 9.86%2024-12-310001508655Debt Investments Retail and Consumer Products Rapid Data GmbH Unternehmensberatung First-lien loan (EUR 7,546 par, due 7/2029) Initial Acquisition Date 7/11/2023 Reference Rate and Spread E + 6.50% Interest Rate 8.50%2025-09-300001508655Equity and Other Investments Financial Services Passport Labs, Inc. Warrants (17,534 warrants) Initial Acquisition Date 4/28/20212025-09-300001508655Debt Investments Financial Services Passport Labs, Inc. Investment Convertible Promissory Note A ($1,086 par, due 8/2026) Initial Acquisition Date 3/2/2023 Reference Rate and Spread 8% Interest Rate 8%2025-09-300001508655Debt Investments Retail and Consumer Products Belk, Inc. First-lien loan ($49,375 par, due 7/2029) Initial Acquisition Date 7/22/2024 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.51%2024-01-012024-12-310001508655us-gaap:RevolvingCreditFacilityMember2025-03-042025-03-040001508655us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMember2025-07-012025-09-300001508655tslx:ExtraHopNetworksIncMembertslx:DelayedDrawAndRevolverMember2025-09-300001508655Other Investments Birch Grove CLO Ltd, Series 2025-14A Investment Structured Credit ($1,250 par, due 7/2037) Initial Acquisition Date 9/2/2025 Reference Rate and Spread SOFR + 6.65% Interest Rate 10.98%2025-01-012025-09-300001508655srt:AffiliatedEntityMember2025-09-300001508655tslx:InternetServicesMember2024-12-310001508655tslx:EducationMember2025-09-300001508655Debt Investments Internet Services Kryptona BidCo US, LLC First-lien loan (EUR 4,727 par, due 12/2031) Initial Acquisition Date 12/18/2024 Reference Rate and Spread E + 6.00% Interest Rate 8.02% (incl. 3.25% PIK)2025-09-300001508655tslx:RevolvingCreditFacilityMaturityOnApril232027Member2024-04-242024-04-240001508655us-gaap:AdditionalPaidInCapitalMember2025-06-300001508655tslx:DelayedDrawMembertslx:VarinemGermanBidcoGmbhMember2024-12-310001508655Debt Investments Financial Services BlueSnap, Inc. Investment First-lien loan ($45,106 par, due 8/2025) Initial Acquisition Date 10/25/2019 Reference Rate and Spread SOFR + 9.15% Interest Rate 13.48%2024-01-012024-12-310001508655tslx:TwoThousandTwentyFourNotesMember2020-02-012020-02-290001508655Equity and Other Investments Structured Credit Dryden Senior Loan Fund, Series 2020-86A Structured Credit ($1,500 par, due 7/2034) Initial Acquisition Date 8/17/2022 Reference Rate and Spread SOFR + 6.76% Interest Rate 11.41%2024-01-012024-12-310001508655tslx:DelayedDrawMembertslx:BabylonFincoLimitedMember2024-12-310001508655Debt Investments Human Resource Support Services Elysian Finco Ltd. First-lien revolving loan (GBP 325 par, due 1/2028) Initial Acquisition Date 1/31/2021 Reference Rate and Spread S + 5.00% Interest Rate 9.70%2024-12-310001508655Debt Investments Communications Banyan Software Holdings, LLC Investment First-lien loan ($39,386 par, due 10/2026) Initial Acquisition Date 01/27/2023 Reference Rate and Spread SOFR + 7.35% Interest Rate 11.71%2024-01-012024-12-310001508655Debt Investments Financial Services Arlberg Bidco LLC Investment First-lien loan ($5,000 par, due 2/2031) Initial Acquisition Date 2/14/2025 Reference Rate and Spread SOFR + 5.75% Interest Rate 9.98%2025-09-300001508655Debt Investments Business Services Artisan Bidco, Inc. Investment First-lien loan ($38,830 par, due 11/2029) Initial Acquisition Date 11/07/2023 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.39%2024-12-310001508655tslx:DelayedDrawAndRevolverMembertslx:HMPOmnimediaLLCMember2025-09-300001508655tslx:TwoThousandTwentyFourNotesMember2020-01-012020-12-310001508655us-gaap:FairValueInputsLevel3Membertslx:FirstLienDebtInvestmentsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMembersrt:MaximumMember2024-12-310001508655tslx:InvestmentAdvisoryAgreementMembertslx:LeverageWaiverMember2011-04-152011-04-150001508655us-gaap:CommonStockMember2025-07-012025-09-300001508655Debt Investments Other Boréal Bidco First-lien note (EUR 13,408 par, due 3/2032) Initial Acquisition Date 3/24/2025 Reference Rate and Spread E + 7.25% Interest Rate 9.25% (inclu. 5.75% PIK)2025-09-300001508655Debt Investments Business Services Price Fx Inc. Investment First-lien loan (EUR 910 par, due 10/2029) Initial Acquisition Date 12/19/2024 Reference Rate and Spread E + 6.25% Interest Rate 8.22%2025-01-012025-09-300001508655Debt Investments Healthcare BCTO Ace Purchaser, Inc. Investment Second-lien loan ($7,381 par, due 1/2030) Initial Acquisition Date 1/23/2023 Reference Rate and Spread SOFR + 10.70% Interest Rate 15.02% PIK2025-01-012025-09-300001508655tslx:DelayedDrawMembertslx:QSRAcquisitionCoMember2024-12-310001508655Debt Investments Oil, Gas and Consumable Fuels Laramie Energy, LLC First-lien loan ($27,317 par, due 2/2027) Initial Acquisition Date 2/21/2023 Reference Rate and Spread SOFR + 7.10% Interest Rate 11.46%2024-12-310001508655us-gaap:OtherAggregatedInvestmentsMember2025-09-300001508655Other Investments CIFC Funding Ltd, Series 2021 -2A Structured Credit ($1,000 par, due 4/2034) Initial Acquisition Date 7/17/2025 Reference Rate and Spread SOFR + 6.46% Interest Rate 10.78%2025-09-300001508655tslx:InterestRateSwapSixMember2024-07-012024-09-3000015086552024-01-012024-12-310001508655tslx:MezzanineDebtInvestmentsMember2024-12-310001508655Equity and Other Investments Financial Services CLGF Holdings, L.P. Warrants (334,682 warrants) Initial Acquisition Date 11/7/20232024-01-012024-12-310001508655Debt Investments Education Severin Acquisition, LLC Investment First-lien loan ($15,046 par, due 10/2031) Initial Acquisition Date 10/01/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.36% (incl. 2.25% PIK)2024-12-310001508655Debt Investments Retail and Consumer Products Tango Management Consulting, LLC First-lien revolving loan ($2,454 par, due 12/2027) Initial Acquisition Date 12/1/2021 Reference Rate and Spread P + 6.75% Interest Rate 14.25%2024-12-310001508655Debt Investments Business Services Artisan Bidco, Inc. Investment First-lien loan ($38,536 par, due 11/2029) Initial Acquisition Date 11/7/2023 Reference Rate and Spread SOFR + 7.00% Interest Rate 11.32%2025-09-300001508655tslx:MarketingServicesMember2025-09-300001508655Equity and Other Investments Healthcare Khoros, LLC Earnout Interests Initial Acquisition Date 5/23/20202025-09-300001508655Debt Investments Healthcare Velocity Clinical Research, Inc. Investment First-lien loan ($62,028 par, due 9/2031) Initial Acquisition Date 9/9/2025 Reference Rate and Spread SOFR + 7.50% Interest Rate 11.50%2025-09-300001508655tslx:AffiliatedMember2025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:TangoManagementConsultingTwoMember2025-09-300001508655Debt Investments Manufacturing Heritage Environmental Services, Inc. First-lien loan ($12,284 par, due 1/2031) Initial Acquisition Date 1/31/2024 Reference Rate and Spread SOFR + 5.25% Interest Rate 9.84%2024-01-012024-12-310001508655tslx:StructuredCreditInvestmentsMember2025-01-012025-09-300001508655us-gaap:InterestRateSwapMembertslx:TwoThousandTwentySixNotesMember2025-07-012025-09-300001508655tslx:TwentyTwentyNineNotesMember2024-01-082024-01-080001508655Debt Investments Chemicals Erling Lux Bidco SARL Investment First-lien loan (NOK 7,428 par, due 9/2028) Initial Acquisition Date 09/06/2022 Reference Rate and Spread N + 7.00% Interest Rate 11.69%2024-12-310001508655us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMembertslx:FirstLienDebtInvestmentsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMember2024-12-310001508655Debt Investments Internet Services Hippo XPA Bidco AB First-lien loan (EUR 2,472 par, due 2/2031) Initial Acquisition Date 2/20/2024 Reference Rate and Spread E + 6.50% Interest Rate 9.87% (incl. 3.50% PIK)2024-12-310001508655Debt Investments Manufacturing Skylark UK DebtCo Limited First-lien loan ($16,340 par, due 9/2030) Initial Acquisition Date 9/7/2023 Reference Rate and Spread SOFR + 5.66% Interest Rate 9.66%2025-01-012025-09-300001508655Debt Investments Business Services Alpha Midco, Inc. Investment First-lien loan ($69,624 par, due 8/2028) Initial Acquisition Date 08/15/2019 Reference Rate and Spread SOFR + 6.88% Interest Rate 11.20%2024-12-310001508655tslx:TwentyThirtyNotesMember2025-01-012025-09-300001508655us-gaap:TreasuryStockCommonMember2025-03-310001508655Debt Investments Retail and Consumer Products Rapid Data GmbH Unternehmensberatung First-lien loan (EUR 7,546 par, due 7/2029) Initial Acquisition Date 7/11/2023 Reference Rate and Spread E + 6.50% Interest Rate 8.50%2025-01-012025-09-300001508655us-gaap:AdditionalPaidInCapitalMember2025-09-300001508655us-gaap:RetainedEarningsMember2025-07-012025-09-300001508655Debt Investments Manufacturing Heritage Environmental Services, Inc. First-lien loan ($1,329 par, due 1/2031) Initial Acquisition Date 1/31/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.33%2024-12-310001508655Equity and Other Investments Communications IntelePeer Holdings, Inc. Series D Preferred Shares (1,598,874 shares) Initial Acquisition Date 4/8/20212024-12-310001508655tslx:InternetServicesMember2025-09-300001508655tslx:EMSLinqIncMembertslx:RevolverMember2024-12-310001508655tslx:DelayedDrawAndRevolverMembertslx:RailAcquisitionsLLCMember2025-09-300001508655us-gaap:BaseRateMemberus-gaap:RevolvingCreditFacilityMembersrt:MinimumMember2025-03-040001508655Debt Investments Business Services Galileo Parent, Inc. Investment First-lien loan ($63,606 par, due 5/2030) Initial Acquisition Date 5/3/2023 Reference Rate and Spread SOFR + 5.75% Interest Rate 9.75%2025-09-300001508655tslx:IngenovisHealthFinanceLLCMembertslx:RevolverMember2024-12-310001508655us-gaap:InterestRateSwapMembertslx:TwoThousandTwentyEightNotesMember2025-07-012025-09-300001508655Debt Investments Internet Services Higher Logic, LLC First-lien loan ($50,054 par, due 1/2025) Initial Acquisition Date 6/18/2018 Reference Rate and Spread SOFR + 6.25% Interest Rate 10.61%2024-12-310001508655Interest Rate Swap Company Pays SOFR + 2.17% Maturity Date 8/1/20262024-12-310001508655us-gaap:InvestmentAffiliatedIssuerControlledMember2025-01-012025-09-300001508655us-gaap:FinancialServicesSectorMembertslx:EquityAndOtherInvestmentsMember2024-12-310001508655Debt Investments Business Services Crewline Buyer, Inc. Investment First-lien loan ($58,384 par, due 11/2030) Initial Acquisition Date 11/08/2023 Reference Rate and Spread SOFR + 6.75% Interest Rate 11.11%2024-01-012024-12-310001508655Debt Investments Chemicals Erling Lux Bidco SARL Investment First-lien revolving loan (GBP 499 par, due 9/2028) Initial Acquisition Date 9/6/2022 Reference Rate and Spread S + 7.00% Interest Rate 10.97%2025-09-300001508655Debt Investments Internet Services Arrow Buyer, Inc. Investment First-lien loan ($36,744 par, due 7/2030) Initial Acquisition Date 6/30/2023 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.00%2025-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:SecondLienDebtInvestmentsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMember2024-12-310001508655Other Investments Texas Debt Capital CLO Ltd, Series 2023 -1A Structured Credit ($2,000 par, due 7/2038) Initial Acquisition Date 8/12/2025 Reference Rate and Spread SOFR + 4.95% Interest Rate 9.27%2025-09-300001508655tslx:DelayedDrawAndRevolverMembertslx:AlphaMidcoIncMember2024-12-310001508655Debt Investments Internet Services Bayshore Intermediate #2, L.P. Investment First-lien revolving loan ($902 par, due 10/2027) Initial Acquisition Date 10/1/2021 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.00%2025-01-012025-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:SecondLienDebtInvestmentsMembersrt:MinimumMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMember2025-09-300001508655tslx:AdministrationAgreementMemberus-gaap:GeneralAndAdministrativeExpenseMembertslx:AdviserMember2025-07-012025-09-300001508655Other Investments Benefit Street Partners CLO Ltd, Series 2025-39A Investment Structured Credit ($1,725 par, due 4/2038) Initial Acquisition Date 7/16/2025 Reference Rate and Spread SOFR + 4.50% Interest Rate 8.76%2025-09-300001508655Debt Investments Business Services ForeScout Technologies, Inc. Investment First-lien loan ($5,555 par, due 5/2031) Initial Acquisition Date 5/24/2024 Reference Rate and Spread SOFR + 5.00% Interest Rate 9.20%2025-01-012025-09-300001508655Debt Investments Business Services Lynx BidCo Investment First-lien loan ($1,421 par, due 7/2031) Initial Acquisition Date 07/05/2024 Reference Rate and Spread SOFR + 7.11% Interest Rate 11.75% (incl. 5.61% PIK)2024-12-310001508655Debt Investments Business Services Price Fx Inc. Investment First-lien loan (EUR 910 par, due 10/2029) Initial Acquisition Date 12/19/2024 Reference Rate and Spread E + 6.25% Interest Rate 9.12%2024-12-310001508655Debt Investments Financial Services Alaska Bidco Oy Investment First-lien loan (EUR 727 par, due 5/2030) Initial Acquisition Date 5/30/2023 Reference Rate and Spread E + 5.75% Interest Rate 7.75%2025-01-012025-09-300001508655us-gaap:FairValueInputsLevel3Membertslx:SecondLienDebtInvestmentsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMembersrt:MaximumMember2024-12-310001508655Debt Investments Retail and Consumer Products PDI TA Holdings, Inc. First-lien revolving loan ($656 par, due 2/2031) Initial Acquisition Date 2/1/2024 Reference Rate and Spread SOFR + 5.50% Interest Rate 9.81%2025-09-300001508655Other Investments Goldentree Loan Management US CLO Ltd, Series 2022 -16A Structured Credit ($5,000 par, due 1/2038) Initial Acquisition Date 9/16/2025 Reference Rate and Spread SOFR + 4.50% Interest Rate 8.83%2025-01-012025-09-300001508655Equity and Other Investments Financial Services Passport Labs, Inc. Warrants (17,534 warrants) Initial Acquisition Date 4/28/20212025-01-012025-09-30iso4217:AUDiso4217:EURxbrli:pureiso4217:SEKxbrli:sharesiso4217:CADiso4217:GBPiso4217:USDxbrli:sharesiso4217:USDiso4217:NOK

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-Q

(Mark One)


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

For the quarterly period ended September 30, 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 001-36364

Sixth Street Specialty Lending, Inc.

(Exact name of registrant as specified in its charter)


Delaware	27-3380000
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

2100 McKinney Avenue, Suite 1500, Dallas, TX	75201
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (469) 621-3001

Not applicable

Former name, former address and former fiscal year, if changed since last report.

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	TSLX	The New York Stock Exchange

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 ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted 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 such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, 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	☐	Smaller reporting company	☐
		Emerging growth 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 ☒

The number of shares of the registrant’s common stock, $.01 par value per share, outstanding at November 4, 2025 was 94,493,925.

SIXTH STREET SPECIALTY LENDING, INC.


	INDEX	PAGE NO.

PART I.	FINANCIAL INFORMATION	4

Item 1.	Financial Statements	4

	Consolidated Balance Sheets as of September 30, 2025 (Unaudited) and December 31, 2024	4

	Consolidated Statements of Operations for the three and nine months ended September 30, 2025 and 2024 (Unaudited)	5

	Consolidated Schedules of Investments as of September 30, 2025 (Unaudited) and December 31, 2024	6

	Consolidated Statements of Changes in Net Assets for the three and nine months ended September 30, 2025 and 2024 (Unaudited)	25

	Consolidated Statements of Cash Flows for the nine months ended September 30, 2025 and 2024 (Unaudited)	27

	Notes to Consolidated Financial Statements (Unaudited)	28

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	53

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	75

Item 4.	Controls and Procedures	76

PART II.	OTHER INFORMATION	77

Item 1.	Legal Proceedings	77

Item 1A.	Risk Factors	77

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	77

Item 3.	Defaults Upon Senior Securities	77

Item 4.	Mine Safety Disclosures	77

Item 5.	Other Information	77

Item 6.	Exhibits	78

SIGNATURES		79

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This report contains forward-looking statements that involve substantial risks and uncertainties. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about us, our current and prospective portfolio investments, our industry, our beliefs, and our assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “would,” “should,” “targets,” “projects,” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict, that could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements.

In addition to factors previously identified elsewhere in the reports and other documents Sixth Street Specialty Lending, Inc. (the "Company", "we", "us", or "our") has filed with the Securities and Exchange Commission (the “SEC”), the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance:

•

an economic downturn, which could impair our portfolio companies’ abilities to continue to operate, and could lead to the loss of some or all of our investments in those portfolio companies;

•

such an economic downturn could disproportionately impact the companies in which we have invested and others that we intend to target for investment, potentially causing us to experience a decrease in investment opportunities and diminished demand for capital from these companies;

•

such an economic downturn could also impact availability and pricing of our financing;

•

an inability to access the capital markets could impair our ability to raise capital and our investment activities;

•

inflation could negatively impact our business, including our ability to access the debt markets on favorable terms, or could negatively impact our portfolio companies;

•

changes in political, economic or industry conditions, the interest rate environment or conditions affecting the financial and capital markets, including the effects of trade policies and government regulation; and

•

the risks, uncertainties and other factors we identify in the section entitled “Risk Factors” in this report, in our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 13, 2025, and elsewhere in our filings with the SEC.

Although we believe that the assumptions on which these forward-looking statements are based are reasonable, some of those assumptions are based on the work of third parties and any of those assumptions could prove to be inaccurate; as a result, forward-looking statements based on those assumptions also could prove to be inaccurate. In light of these and other uncertainties, the inclusion of a projection or forward-looking statement in this report should not be regarded as a representation by us that our plans and objectives will be achieved. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this report. We do not undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law.

The “TSLX” and “TAO” marks are marks of Sixth Street.

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

Sixth Street Specialty Lending, Inc.

Consolidated Balance Sheets

(Amounts in thousands, except share and per share amounts)

(Unaudited)


	September 30,			December 31,
	2025			2024
Assets
Investments at fair value
Non-controlled, non-affiliated investments (amortized cost of $3,246,833 and $3,450,644, respectively)	$	3,309,972		$	3,453,317
Controlled, affiliated investments (amortized cost of $97,139 and $88,509, respectively)		66,339			65,095
Total investments at fair value (amortized cost of $3,343,972 and $3,539,153, respectively)		3,376,311			3,518,412
Cash and cash equivalents (restricted cash of $20,137 and $22,362, respectively)		83,159			27,328
Interest receivable		31,193			30,518
Prepaid expenses and other assets		18,598			5,967
Total Assets	$	3,509,261		$	3,582,225
Liabilities
Debt (net of deferred financing costs of $26,167 and $23,837, respectively)	$	1,834,285		$	1,901,142
Management fees payable to affiliate		12,797			12,953
Incentive fees on net investment income payable to affiliate		10,527			12,013
Incentive fees on net capital gains accrued to affiliate		1,768			5,071
Other payables to affiliate		2,987			3,635
Other liabilities		27,190			39,882
Total Liabilities		1,889,554			1,974,696
Commitments and contingencies (Note 8)
Net Assets
Preferred stock, $0.01 par value; 100,000,000 shares authorized; no shares issued and outstanding		—			—
Common stock, $0.01 par value; 400,000,000 shares authorized, 95,158,175 and 94,325,686 shares issued, respectively; and 94,493,925 and 93,661,436 shares outstanding, respectively		952			943
Additional paid-in capital		1,537,514			1,519,337
Treasury stock at cost; 664,250 and 664,250 shares held, respectively		(10,459	)		(10,459	)
Distributable earnings		91,700			97,708
Total Net Assets		1,619,707			1,607,529
Total Liabilities and Net Assets	$	3,509,261		$	3,582,225
Net Asset Value Per Share	$	17.14		$	17.16

The accompanying notes are an integral part of these consolidated financial statements.

Sixth Street Specialty Lending, Inc.

Consolidated Statements of Operations

(Amounts in thousands, except share and per share amounts)

(Unaudited)


	Three Months Ended						Nine Months Ended
	September 30, 2025			September 30, 2024			September 30, 2025			September 30, 2024
Income
Investment income from non-controlled, non-affiliated investments:
Interest from investments	$	92,221		$	103,363		$	295,098		$	308,478
Paid-in-kind interest income		6,883			6,218			18,026			23,761
Dividend income		268			3,251			1,563			5,847
Other income		7,397			3,951			18,465			13,737
Total investment income from non-controlled, non-affiliated investments		106,769			116,783			333,152			351,823
Investment income from controlled, affiliated investments:
Interest from investments		2,672			2,438			7,649			6,989
Other income		3			2			7			10
Total investment income from controlled, affiliated investments		2,675			2,440			7,656			6,999
Total Investment Income		109,444			119,223			340,808			358,822
Expenses
Interest		31,385			38,492			98,003			116,759
Management fees		13,081			13,029			39,082			38,390
Incentive fees on net investment income		10,527			11,175			33,132			33,517
Incentive fees on net capital gains		(1,054	)		(2,245	)		(3,303	)		(4,424	)
Professional fees		2,022			1,911			6,544			5,776
Directors’ fees		206			215			702			643
Other general and administrative		1,507			1,352			4,124			3,979
Total expenses		57,674			63,929			178,284			194,640
Management and incentive fees waived (Note 3)		(284	)		(330	)		(990	)		(1,024	)
Net Expenses		57,390			63,599			177,294			193,616
Net Investment Income Before Income Taxes		52,054			55,624			163,514			165,206
Income taxes, including excise taxes		1,374			698			4,016			2,774
Net Investment Income		50,680			54,926			159,498			162,432
Unrealized and Realized Gains (Losses)
Net change in unrealized gains (losses):
Non-controlled, non-affiliated investments		(3,887	)		(2,502	)		60,466			(19,669	)
Controlled, affiliated investments		(3,019	)		(19	)		(7,385	)		(2,399	)
Translation of other assets and liabilities in foreign currencies		756			(10,305	)		(36,052	)		(7,220	)
Income tax provision		605			(1,456	)		605			(1,456	)
Total net change in unrealized gains (losses)		(5,545	)		(14,282	)		17,634			(30,744	)
Realized gains (losses):
Non-controlled, non-affiliated investments		768			83			(34,919	)		3,947
Foreign currency transactions		(366	)		(72	)		(719	)		(60	)
Income tax provision		(937	)		—			(937	)		—
Total net realized gains (losses)		(535	)		11			(36,575	)		3,887
Total Net Unrealized and Realized Gains (Losses)		(6,080	)		(14,271	)		(18,941	)		(26,857	)
Increase (Decrease) in Net Assets Resulting from Operations	$	44,600		$	40,655		$	140,557		$	135,575
Earnings per common share—basic and diluted	$	0.47		$	0.44		$	1.50		$	1.48
Weighted average shares of common stock outstanding—basic and diluted		94,245,993			93,024,154			93,964,387			91,602,160

The accompanying notes are an integral part of these consolidated financial statements.

Sixth Street Specialty Lending, Inc.

Consolidated Schedule of Investments as of September 30, 2025

(Amounts in thousands, except share amounts)

(Unaudited)


Company (1)	Investment	Initial Acquisition Date	Reference Rate and Spread			Interest Rate			Amortized Cost (2)(7)		Fair Value (8)		Percentage of Net Assets
Debt Investments
Business Services
Artisan Bidco, Inc.(3)	First-lien loan ($38,536 par, due 11/2029)	11/7/2023	SOFR + 7.00%				11.32	%		37,971		38,536		2.4	%
	First-lien loan (EUR 17,425 par, due 11/2029)	11/7/2023		E + 7.00%			8.94	%		18,445	20,474 (EUR 17,425)			1.3	%
	First-lien revolving loan ($3,621 par, due 11/2029)	11/7/2023	SOFR + 7.00%				11.19	%		3,542		3,621		0.2	%
Azurite Intermediate Holdings, Inc. (3)	First-lien loan ($42,750 par, due 3/2031)	3/19/2024	SOFR + 6.00%				10.16	%		42,110		43,225		2.7	%
BCTO Ignition Purchaser, Inc. (3)	First-lien holdco loan ($52,838 par, due 10/2030)	4/18/2023	SOFR + 7.50%			11.83% PIK				51,889		53,763		3.3	%
Crewline Buyer, Inc.(3)	First-lien loan ($58,384 par, due 11/2030)	11/8/2023	SOFR + 6.75%				10.91	%		57,095		58,866		3.6	%
Dye & Durham Corp. (3)(4)(9)	First-lien loan ($947 par, due 4/2031)	4/4/2024	SOFR + 4.35%				8.35	%		935		941		0.1	%
Elements Finco Limited (3)(4)	First-lien loan ($2,257 par, due 4/2031)	4/29/2024	SOFR + 5.25%			9.41% (incl. 2.25% PIK)				2,243		2,286		0.1	%
	First-lien loan ($1,848 par, due 4/2031)	4/29/2024	SOFR + 5.00%				9.16	%		1,841		1,871		0.1	%
	First-lien loan (GBP 10,462 par, due 4/2031)	4/29/2024	S + 5.50%			9.47% (incl. 2.50% PIK)				13,008	14,296 (GBP 10,619)			0.9	%
ExtraHop Networks, Inc. (3)(5)	First-lien loan ($76,496 par, due 7/2027)	7/22/2021	SOFR + 6.60%				10.76	%		75,964		76,690		4.7	%
ForeScout Technologies, Inc. (3)	First-lien loan ($5,555 par, due 5/2031)	5/24/2024	SOFR + 5.00%				9.20	%		5,504		5,555		0.3	%
Galileo Parent, Inc. (3)	First-lien loan ($63,606 par, due 5/2030)	5/3/2023	SOFR + 5.75%				9.75	%		62,194		64,242		4.0	%
	First-lien revolving loan ($6,635 par, due 5/2030)	5/3/2023	SOFR + 5.75%				9.75	%		6,454		6,736		0.4	%
Lynx BidCo (3)(4)	First-lien loan ($1,500 par, due 7/2031)	7/5/2024	SOFR + 6.50%				10.50	%		1,385		1,461		0.1	%
	First-lien loan (EUR 23,603 par, due 7/2031)	7/5/2024	E + 6.50%				8.50	%		26,934	27,543 (EUR 23,441)			1.7	%
Mitnick Corporate Purchaser, Inc. (3)(9)	First-lien loan ($323 par, due 5/2029)	5/2/2022	SOFR + 4.85%				9.16	%		323		233		0.0	%
Price Fx Inc. (3)(4)	First-lien loan (EUR 910 par, due 10/2029)	10/27/2023		E + 7.00%			8.97	%		969	1,083 (EUR 921)			0.1	%
	First-lien loan (EUR 910 par, due 10/2029)	12/19/2024	E + 6.25%				8.22	%		925	1,080 (EUR 919)			0.1	%
USA DeBusk, LLC (3)	First-lien loan ($6,969 par, due 4/2031)	4/30/2024	SOFR + 5.25%				9.45	%		6,868		7,014		0.4	%
	First-lien revolving loan ($534 par, due 4/2030)	4/30/2024	SOFR + 5.25%				9.41	%		521		541		0.0	%
Wrangler TopCo, LLC (3)	First-lien loan ($5,988 par, due 9/2029)	7/7/2023	SOFR + 6.00%				10.07	%		5,889		6,073		0.4	%
										423,009		436,130		26.9	%
Chemicals
Erling Lux Bidco SARL (3)(4)	First-lien loan (EUR 11,549 par, due 9/2028)	9/6/2022		E + 7.00%			9.03	%		11,598	13,817 (EUR 11,759)			0.9	%
	First-lien loan (GBP 19,592 par, due 9/2028)	9/6/2022		S + 7.00%			10.97	%		23,117	26,705 (GBP 19,836)			1.6	%
	First-lien loan (NOK 7,427 par, due 9/2028)	9/6/2022	N + 7.00%				11.33	%		711	754 (NOK 7,520)			0.0	%
	First-lien revolving loan (GBP 499 par, due 9/2028)	9/6/2022		S + 7.00%			10.97	%		610	680 (GBP 505)			0.0	%
										36,036		41,956		2.5	%
Communications
Aurelia Netherlands MidCo 2 B.V. (3)(4)	First-lien loan (EUR 32,904 par, due 5/2031)	5/22/2024		E + 4.75%			6.78	%		34,983	38,662 (EUR 32,904)			2.3	%
X Holdings Inc. (9)	First-lien loan ($9,362 par, due 10/2029) (3)	2/5/2025		SOFR + 6.65%			10.96	%		9,108		9,176		0.6	%
	First-lien loan ($988 par, due 10/2029)	4/28/2025		9.50	%		9.50	%		970		991		0.1	%
										45,061		48,829		3.0	%
Education
Astra Acquisition Corp. (3)(14)	Second-lien loan ($40,084 par, due 10/2029)	10/22/2021	P + 9.88%				17.13	%		39,489		401		0.0	%
EMS Linq, Inc. (3)	First-lien loan ($56,216 par, due 12/2027)	12/22/2021	SOFR + 6.35%				10.55	%		55,722		55,232		3.4	%
	First-lien revolving loan ($2,635 par, due 12/2027)	12/22/2021	SOFR + 6.35%				10.55	%		2,570		2,481		0.2	%
Kangaroo Bidco AS (3)(4)	First-lien loan ($30,625 par, due 11/2030)	11/2/2023	SOFR + 6.25%				10.43	%		29,909		31,238		1.9	%


Severin Acquisition, LLC (3)	First-lien loan ($15,723 par, due 10/2031)	10/1/2024	SOFR + 5.00%			9.16% (incl. 2.25% PIK)			15,704		15,672	1.0	%
									143,394		105,024	6.5	%
Electronics
Sapphire Software Buyer, Inc. (3)	First-lien loan ($27,030 par, due 9/2031)	9/30/2024	SOFR + 5.00%				8.87	%	26,768		26,955	1.7	%
Financial Services
Alaska Bidco Oy (3)(4)	First-lien loan (EUR 727 par, due 5/2030)	5/30/2023		E + 5.75%			7.75	%	762	860 (EUR 732)		0.1	%
Arlberg Bidco LLC (3)(4)(5)	First-lien loan ($5,000 par, due 2/2031)	2/14/2025	SOFR + 5.75%				9.98	%	4,900		4,963	0.3	%
GreenShoot BidCo B.V (3)(4)	First-lien loan (EUR 5,107 par, due 5/2030)	5/28/2024		E + 5.75%			7.78	%	5,426	5,936 (EUR 5,052)		0.4	%
Ibis Intermediate Co. (3)(5)	First-lien loan ($1,174 par, due 5/2027)	5/28/2021	SOFR + 4.65%				8.85	%	1,151		1,188	0.1	%
Ibis US Blocker Co. (3)	First-lien loan ($20,238 par, due 5/2028)	5/28/2021	SOFR + 9.50%			13.70% PIK			20,093		20,390	1.3	%
Passport Labs, Inc.	Convertible Promissory Note A ($1,086 par, due 8/2026)	3/2/2023		8.00	%		8.00	%	1,086		1,175	0.1	%
Payroc Buyer, LLC	Promissory Note ($6,000 par, due 9/2030)	9/30/2025		5.50	%	5.50% PIK			6,000		5,085	0.3	%
TradingScreen, Inc. (3)(5)	First-lien loan ($55,102 par, due 4/2027)	4/30/2021	SOFR + 6.35%				10.66	%	54,592		55,102	3.3	%
	First-lien revolving loan ($899 par, due 5/2027)	11/1/2024	P + 5.25%				12.50	%	883		899	0.1	%
Volante Technologies, Inc.	First-lien loan ($3,473 par, due 9/2028)	9/29/2023		16.50	%	16.50% PIK			3,454		3,603	0.2	%
									98,347		99,201	6.2	%
Healthcare
BCTO Ace Purchaser, Inc. (3)	First-lien loan ($69,995 par, due 11/2029)	11/23/2020	SOFR + 6.50%				10.70	%	69,498		71,046	4.4	%
	Second-lien loan ($7,381 par, due 1/2030)	1/23/2023	SOFR + 10.70%			15.02% PIK			7,289		7,492	0.5	%
Edge Bidco B.V. (3)(4)(5)	First-lien loan (EUR 5,918 par, due 2/2029)	2/24/2023		E + 6.50%			8.50	%	6,218	7,074 (EUR 6,021)		0.4	%
Eventus Buyer, LLC (3)	First-lien loan ($25,771 par, due 11/2030)	11/1/2024	SOFR + 5.50%				9.50	%	25,401		25,525	1.6	%
	First-lien revolving loan ($1,867 par, due 11/2030)	11/1/2024	SOFR + 5.50%				9.50	%	1,822		1,840	0.1	%
HMP Omnimedia, LLC (3)	First-lien loan ($19,773 par, due 7/2032)	7/31/2025	SOFR + 5.25%				9.41	%	19,332		19,548	1.2	%
Ingenovis Health Finance, LLC (3)	First-lien revolving loan ($32,500 par, due 5/2030)	5/13/2025	SOFR + 6.00%				10.20	%	31,300		31,850	2.0	%
Raptor US Buyer II Corp. (3)(5)	First-lien loan ($17,995 par, due 3/2029)	3/24/2023	SOFR + 6.25%				10.41	%	17,636		18,182	1.1	%
Symplr Software Inc. (3)(9)	First-lien loan ($636 par, due 12/2027)	4/4/2025	SOFR + 4.60%				8.91	%	543		571	0.0	%
Velocity Clinical Research, Inc. (3)	First-lien loan ($62,028 par, due 9/2031)	9/9/2025	SOFR + 7.50%				11.50	%	60,800		60,632	3.7	%
	First-lien revolving loan ($528 par, due 9/2031)	9/9/2025	SOFR + 7.50%				11.50	%	466		457	0.0	%
									240,305		244,217	15.0	%
Hotel, Gaming and Leisure
ASG II, LLC (3)(5)	First-lien loan ($65,000 par, due 5/2028)	5/25/2022	SOFR + 6.40%				10.71	%	64,183		64,025	4.0	%
AVSC Holding Corp. (3)	First-lien loan ($44,941 par, due 12/2031)	12/5/2024		SOFR + 5.00%			9.16	%	44,040		44,568	2.8	%
Equinox Holdings, Inc.	First-lien loan ($50,158 par, due 3/2029) (3)	3/8/2024	SOFR + 8.25%			12.25% (incl. 4.13% PIK)			50,565		52,437	3.2	%
	Second-lien loan ($2,639 par, due 6/2027)	3/13/2024		16.00	%	16.00% PIK			2,602		2,771	0.2	%
IRGSE Holding Corp. (3)(6)	First-lien loan ($30,261 par, due 6/2026)	12/21/2018	SOFR + 9.65%				13.65	%	28,594		26,100	1.6	%
	First-lien revolving loan ($46,602 par, due 6/2026)	12/21/2018	SOFR + 9.65%				13.83	%	46,602		40,112	2.5	%
Sport Alliance GmbH (3)(4)	First-lien loan (EUR 37,013 par, due 4/2030)	4/10/2024		E + 7.75%		9.66% (incl. 4.13% PIK)			41,813	43,190 (EUR 36,758)		2.7	%
	First-lien revolving loan (EUR 208 par, due 4/2030)	4/10/2024		E + 7.25%			9.25	%	211	256 (EUR 218)		0.0	%
									278,610		273,459	17.0	%
Human Resource Support Services
Axonify, Inc. (3)(4)(5)	First-lien loan ($45,113 par, due 5/2027)	5/5/2021	SOFR + 7.15%				11.47	%	44,804		45,226	2.8	%


bswift, LLC (3)(5)	First-lien loan ($44,569 par, due 11/2028)	11/7/2022	SOFR + 4.75%	9.07	%	43,859	44,681	2.8	%
Elysian Finco Ltd. (3)(4)(5)	First-lien loan ($21,745 par, due

Sixth Street Specialty Lending, Inc. 10-Q