Note 6—Commitments and Contingencies

Commitments

In the ordinary course of business, the Fund may enter into future funding commitments. As of December 31, 2025, the Fund had unfunded commitments on delayed draw term loans and revolving credit lines of $69,175 and $55,075, respectively. As of December 31, 2024, the Fund had unfunded commitments on delayed draw term loans and revolving credit lines of $36,229 and $21,573, respectively. The Fund maintains sufficient cash, uncalled commitments, and borrowing capacity on hand to satisfy such unfunded commitments.

As of December 31, 2025, the Fund’s unfunded commitments consisted of the following.


Portfolio Company Name	Investment Type	Commitment Type	Unfunded Commitments
Ag Bells LLC	First Lien Senior Secured	Revolving Credit Line	$	1,165
Allbridge, LLC	First Lien Senior Secured	Delayed Draw Loan		166
Allbridge, LLC	First Lien Senior Secured	Revolving Credit Line		166
Allied OMS Intermediate Company, LLC	First Lien Senior Secured	Delayed Draw Loan		2,973
Allied OMS Intermediate Company, LLC	First Lien Senior Secured	Revolving Credit Line		991
Ampler QSR Holdings LLC	First Lien Senior Secured	Revolving Credit Line		1,553
Archtop Fiber Intermediate LLC	First Lien Senior Secured	Delayed Draw Loan		5,710
Armanino Advisory LLC	First Lien Senior Secured	Delayed Draw Loan		2,554
Armanino Advisory LLC	First Lien Senior Secured	Revolving Credit Line		1,920
Aspire General Holding Company LLC	First Lien Senior Secured	Delayed Draw Loan		2,638
Aspire General Holding Company LLC	First Lien Senior Secured	Revolving Credit Line		694
Batteries Plus Holding Corporation	First Lien Senior Secured	Revolving Credit Line		63
Billhighway, LLC	First Lien Senior Secured	Revolving Credit Line		80
Brown & Root Industrial Services, LLC	First Lien Senior Secured	Revolving Credit Line		2,956
CheckedUp, Inc	First Lien Senior Secured	Revolving Credit Line		55
Compu-Link Corporation	First Lien Senior Secured	Revolving Credit Line		1,570
Cooper's Hawk Intermediate Holding,LLC	First Lien Senior Secured	Delayed Draw Loan		2,895
Cooper's Hawk Intermediate Holding,LLC	First Lien Senior Secured	Revolving Credit Line		1,579
CrossLink Professional Tax Solutions, LLC	First Lien Senior Secured	Revolving Credit Line		599
D4C Dental Brands, Inc.	First Lien Senior Secured	Revolving Credit Line		1,189
Discovery SL Management, LLC	First Lien Senior Secured	Delayed Draw Loan		360
Discovery SL Management, LLC	First Lien Senior Secured	Delayed Draw Loan		2,568
Discovery SL Management, LLC	First Lien Senior Secured	Revolving Credit Line		621
Ensemble Music Schools LLC	First Lien Senior Secured	Delayed Draw Loan		1,405
Ensemble Music Schools LLC	First Lien Senior Secured	Revolving Credit Line		1,405
Fullsteam Operations LLC	First Lien Senior Secured	Delayed Draw Loan		5,769
Fullsteam Operations LLC	First Lien Senior Secured	Revolving Credit Line		1,923
Hasa Acquisition, LLC	First Lien Senior Secured	Delayed Draw Loan		145
Hasa Acquisition, LLC	First Lien Senior Secured	Revolving Credit Line		100
Heathos LLC	First Lien Senior Secured	Revolving Credit Line		707
Hornblower Sub LLC	First Lien Senior Secured	Revolving Credit Line		10
Integrity Marketing Acquisition, LLC	First Lien Senior Secured	Delayed Draw Loan		878
Integrity Marketing Acquisition, LLC	First Lien Senior Secured	Revolving Credit Line		962
Juvare, LLC	First Lien Senior Secured	Delayed Draw Loan		1,066
Juvare, LLC	First Lien Senior Secured	Revolving Credit Line		1,823
Kemper Sports Management, LLC	First Lien Senior Secured	Revolving Credit Line		163
Learn-it Systems, LLC	First Lien Senior Secured	Delayed Draw Loan		3,365
Learn-it Systems, LLC	First Lien Senior Secured	Delayed Draw Loan		734
Learn-it Systems, LLC	First Lien Senior Secured	Revolving Credit Line		1,835
Lindstrom, LLC	First Lien Senior Secured	Revolving Credit Line		1,222
Military Retail Solutions, LLC	First Lien Senior Secured	Delayed Draw Loan		1,515
Military Retail Solutions, LLC	First Lien Senior Secured	Revolving Credit Line		555
Nuclear Care Partners Holdings, Inc.	First Lien Senior Secured	Revolving Credit Line		1,616
OEP Wheeler Buyer, LLC	First Lien Senior Secured	Revolving Credit Line		3,144
OL Texas Restaurants, LLC	First Lien Senior Secured	Revolving Credit Line		210
ORECV, LLC	Equity	Delayed Draw Loan		2,574
Palmetto Longevity Fund, LLC	First Lien Senior Secured	Delayed Draw Loan		127
Palmetto Longevity Fund, LLC	First Lien Senior Secured	Revolving Credit Line		3,002
Pansophic Learning US, LLC	First Lien Senior Secured	Revolving Credit Line		997
Pediatric Home Respiratory Services, LLC	First Lien Senior Secured	Delayed Draw Loan		1,916
Pediatric Home Respiratory Services, LLC	First Lien Senior Secured	Revolving Credit Line		1,065
Periscope Cybermaxx Buyer, Inc	First Lien Senior Secured	Delayed Draw Loan		1,836
Periscope Cybermaxx Buyer, Inc	First Lien Senior Secured	Revolving Credit Line		413
Petvet Care Centers, LLC	First Lien Senior Secured	Revolving Credit Line		1,592
PF Carrus Careers, LLC	First Lien Senior Secured	Revolving Credit Line		553
Project Pathfinder Borrower, LLC	First Lien Senior Secured	Revolving Credit Line		1,960
Rails International, LLC	First Lien Senior Secured	Revolving Credit Line		2,342
Rialto Management Group, LLC	First Lien Senior Secured	Revolving Credit Line		1,707
Salisbury House, LLC	First Lien Senior Secured	Delayed Draw Loan		2,371
Salisbury House, LLC	First Lien Senior Secured	Revolving Credit Line		1,344


Portfolio Company Name	Investment Type	Commitment Type	Unfunded Commitments
Salt US Holdco, LLC	First Lien Senior Secured	Delayed Draw Loan	$	323
Sarasota US Intermediate, Inc.	First Lien Senior Secured	Revolving Credit Line		1,239
Seatex Merger Sub, LLC	First Lien Senior Secured	Revolving Credit Line		1,141
Senior Support Holdings (Franchise) Acquisition, Inc.	First Lien Senior Secured	Delayed Draw Loan		4,468
SL Buyer Corp.	First Lien Senior Secured	Delayed Draw Loan		3,507
SL Buyer Corp.	First Lien Senior Secured	Revolving Credit Line		774
Solidcore Topco, LLC	First Lien Senior Secured	Delayed Draw Loan		3,244
Solidcore Topco, LLC	First Lien Senior Secured	Revolving Credit Line		1,622
Sparta Capital Management, LLC	First Lien Senior Secured	Delayed Draw Loan		3,606
Spartan CP, LLC	First Lien Senior Secured	Delayed Draw Loan		1,291
Spartan CP, LLC	First Lien Senior Secured	Revolving Credit Line		414
Sportime Clubs, LLC	First Lien Senior Secured	Delayed Draw Loan		5,016
Sportime Clubs, LLC	First Lien Senior Secured	Revolving Credit Line		293
Sylmar Group Holdco LLC	First Lien Senior Secured	Delayed Draw Loan		4,155
Sylmar Group Holdco LLC	First Lien Senior Secured	Revolving Credit Line		1,195
The Mutual Group LLC	First Lien Senior Secured	Revolving Credit Line		672
Total Fleet Buyer, LLC	First Lien Senior Secured	Revolving Credit Line		1,148
WildBrain Ltd.	First Lien Senior Secured	Revolving Credit Line		666
XDimensional Technologies, Inc.	First Lien Senior Secured	Revolving Credit Line		60
Total			$	124,250

As of December 31, 2024, the Fund’s unfunded commitments consisted of the following.


Portfolio Company Name	Investment Type	Commitment Type	Unfunded Commitments
Allbridge	First Lien Senior Secured	Delayed Draw Loan	$	166
Allbridge	First Lien Senior Secured	Revolving Credit Line		166
Armanino	First Lien Senior Secured	Delayed Draw Loan		2,880
Armanino	First Lien Senior Secured	Revolving Credit Line		1,920
Baker Hill	First Lien Senior Secured	Revolving Credit Line		82
Batteries Plus Holding Corporation	First Lien Senior Secured	Revolving Credit Line		63
Billhighway	First Lien Senior Secured	Delayed Draw Loan		99
Billhighway	First Lien Senior Secured	Revolving Credit Line		80
BKH	First Lien Senior Secured	Delayed Draw Loan		208
Cardiovascular Logistics	First Lien Senior Secured	Delayed Draw Loan		461
CheckedUp	First Lien Senior Secured	Revolving Credit Line		110
CrossLink	First Lien Senior Secured	Revolving Credit Line		1,124
D4C Dental	First Lien Senior Secured	Revolving Credit Line		1,902
Discovery SL Management	First Lien Senior Secured	Delayed Draw Loan		1,499
Discovery SL Management	First Lien Senior Secured	Revolving Credit Line		300
Firebirds	First Lien Senior Secured	Delayed Draw Loan		19
Firebirds	First Lien Senior Secured	Revolving Credit Line		24
FloWorks International	First Lien Senior Secured	Delayed Draw Loan		2,409
Global School Management	First Lien Senior Secured	Delayed Draw Loan		499
GoAuto	First Lien Senior Secured	Delayed Draw Loan		270
HASA	First Lien Senior Secured	Delayed Draw Loan		157
HASA	First Lien Senior Secured	Revolving Credit Line		151
Hornblower	First Lien Senior Secured	Revolving Credit Line		227
InXpress	First Lien Senior Secured	Delayed Draw Loan		620
Kemper Sports Management	First Lien Senior Secured	Revolving Credit Line		163
Nuclear Care	First Lien Senior Secured	Revolving Credit Line		1,616
Ojos Locos	First Lien Senior Secured	Delayed Draw Loan		583
Ojos Locos	First Lien Senior Secured	Revolving Credit Line		233
Omnimax	First Lien Senior Secured	Delayed Draw Loan		5,116
Pediatric Home Respiratory	First Lien Senior Secured	Delayed Draw Loan		1,916
Pediatric Home Respiratory	First Lien Senior Secured	Revolving Credit Line		894
Periscope Cybermaxx	First Lien Senior Secured	Delayed Draw Loan		2,032
Periscope Cybermaxx	First Lien Senior Secured	Revolving Credit Line		688
PetVet Care Centers	First Lien Senior Secured	Delayed Draw Loan		1,769
PetVet Care Centers	First Lien Senior Secured	Revolving Credit Line		1,769
Planet DDS	First Lien Senior Secured	Delayed Draw Loan		3
Pro Food Solutions	First Lien Senior Secured	Delayed Draw Loan		1,515
Pro Food Solutions	First Lien Senior Secured	Revolving Credit Line		757
Rails International	First Lien Senior Secured	Revolving Credit Line		2,342


Portfolio Company Name	Investment Type	Commitment Type	Unfunded Commitments
Rialto Management	First Lien Senior Secured	Revolving Credit Line	$	667
SeaTex	First Lien Senior Secured	Delayed Draw Loan		2,853
SeaTex	First Lien Senior Secured	Revolving Credit Line		1,141
Senior Support Holdings	First Lien Senior Secured	Delayed Draw Loan		1,520
Solidcore Topoco	First Lien Senior Secured	Delayed Draw Loan		3,244
Solidcore Topoco	First Lien Senior Secured	Revolving Credit Line		1,622
Spartan Fitness	First Lien Senior Secured	Delayed Draw Loan		956
Spartan Fitness	First Lien Senior Secured	Revolving Credit Line		414
Splash Car Wash	First Lien Senior Secured	Delayed Draw Loan		29
Sportime Clubs- Term Loan A	First Lien Senior Secured	Delayed Draw Loan		3,608
Sportime Clubs- Term Loan B	First Lien Senior Secured	Delayed Draw Loan		1,798
Sportime Clubs	First Lien Senior Secured	Revolving Credit Line		293
Total Fleet Solutions	First Lien Senior Secured	Revolving Credit Line		1,148
WildBrain	First Lien Senior Secured	Revolving Credit Line		1,617
XDimensional Technologies	First Lien Senior Secured	Revolving Credit Line		60
Total			$	57,802

The unrealized appreciation or depreciation associated with unfunded portfolio company commitments is recorded in the consolidated financial statements and reflected as an adjustment to the valuation of the related security in the Consolidated Schedules of Investments as of December 31, 2025 and December 31, 2024. The par amount of the unfunded portfolio company commitments is not recognized by the Fund until the commitment is funded.

Unfunded portfolio company commitments may expire without being drawn upon, and therefore, do not necessarily represent future cash requirements or future earning assets for the Fund. The Fund believes that it maintains sufficient liquidity in the form of cash and financing capacity to cover any outstanding unfunded portfolio company commitments that the Fund may be required to fund.

Litigation and Regulatory Matters

In the ordinary course of its business, the Fund may become subject to litigation, claims, and regulatory matters. The Fund has no knowledge of material legal or regulatory proceedings pending or known to be contemplated against the Fund at this time.

Indemnifications

In the ordinary course of its business, the Fund may enter into contracts or agreements that contain indemnifications or warranties. Future events could occur that lead to the execution of these provisions against the Fund. Management believes that the likelihood of such an event is remote.

John Hancock Comvest Private Income Fund 10-K