UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

FORM 10-Q

	☒	Quarterly Report Pursuant to Section 13 or 15(d)
		of the Securities Exchange Act of 1934

For the Quarter Ended March 31, 2017

	☐	Transition Report Pursuant to Section 13 or 15(d)
		of the Securities Exchange Act of 1934

Commission File Number: 814-00897

SPECIAL VALUE CONTINUATION PARTNERS, LP
(Exact Name of Registrant as Specified in Charter)

Delaware (State or Other Jurisdiction of Incorporation)	68-0631675 (IRS Employer Identification No.)

2951 28^th Street, Suite 1000 Santa Monica, California (Address of Principal Executive Offices)	90405 (Zip Code)

Registrant’s telephone number, including area code (310) 566-1000

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

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

Common Limited Partner Interests
(Title of class)

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 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 and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☐ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check one):

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 a 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 the Registrant’s common limited partner interests outstanding as of March 31, 2017 was $1,032,229,446.

SPECIAL VALUE CONTINUATION PARTNERS, LP

FORM 10-Q

FOR THE THREE MONTHS ENDED MARCH 31, 2017

TABLE OF CONTENTS

Part I.	Financial Information

Item 1.	Financial Statements
	Consolidated Statements of Assets and Liabilities as of March 31, 2017 (unaudited) and December 31, 2016	2
	Consolidated Schedule of Investments as of March 31, 2017 (unaudited) and December 31, 2016	3
	Consolidated Statements of Operations for the three months ended March 31, 2017 (unaudited) and March 31, 2016 (unaudited)	13
	Consolidated Statements of Changes in Net Assets for the three months ended March 31, 2017 (unaudited) and year ended December 31, 2016	14
	Consolidated Statements of Cash Flows for the three months ended March 31, 2017 (unaudited) and March 31, 2016 (unaudited)	15
	Notes to Consolidated Financial Statements (unaudited)	16
	Consolidated Schedule of Changes in Investments in Affiliates for the three months ended March 31, 2017 (unaudited) and year ended December 31, 2016	30
	Consolidated Schedule of Restricted Securities of Unaffiliated Issuers as of March 31, 2017 (unaudited) and December 31, 2016	33

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	34

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	45

Item 4.	Controls and Procedures	45

Part II.	Other Information

Item 1.	Legal Proceedings	46

Item 1A.	Risk Factors	46

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	46

Item 3.	Defaults upon Senior Securities	46

Item 4.	Mine Safety Disclosures	46

Item 5.	Other Information	46

Item 6.	Exhibits	46

Table of Contents

Special Value Continuation Partners, LP
(A Delaware Limited Partnership)

Consolidated Statements of Assets and Liabilities

	March 31, 2017			December 31, 2016
	(unaudited)
Assets
Investments, at fair value:
Companies less than 5% owned (cost of $1,186,962,473 and $1,174,421,611, respectively)	$	1,195,112,846		$	1,175,097,468
Companies 5% to 25% owned (cost of $79,674,112 and $75,508,585, respectively)		70,471,411			69,355,808
Companies more than 25% owned (cost of $98,351,702 and $96,135,623, respectively)		72,925,529			70,516,594
Total investments (cost of $1,364,988,287 and $1,346,065,819, respectively)		1,338,509,786			1,314,969,870

Cash and cash equivalents		55,964,496			53,579,868
Accrued interest income:
Companies less than 5% owned		13,494,055			12,713,025
Companies 5% to 25% owned		1,383,794			953,561
Companies more than 25% owned		18,333			25,608
Deferred debt issuance costs		3,449,834			3,828,784
Prepaid expenses and other assets		977,571			1,156,279
Total assets		1,413,797,869			1,387,226,995

Liabilities
Debt, net of unamortized issuance costs		369,883,104			333,787,426
Incentive allocation payable		4,976,378			4,716,834
Interest payable		2,466,563			2,715,380
Payable for investments purchased		2,056,600			12,348,925
Payable to the Advisor		445,513			325,790
Accrued expenses and other liabilities		1,740,265			1,623,003
Total liabilities		381,568,423			355,517,358

Commitments and contingencies (Note 5)

Net assets applicable to common limited and general partners	$	1,032,229,446		$	1,031,709,637

Composition of net assets applicable to common limited and general partners
Paid-in capital in excess of par	$	1,180,024,317		$	1,180,024,317
Accumulated net investment income		18,754,443			17,764,674
Accumulated net realized losses		(140,050,090	)		(134,962,632	)
Accumulated net unrealized depreciation		(26,499,224	)		(31,116,722	)
Net assets applicable to common limited and general partners	$	1,032,229,446		$	1,031,709,637

See accompanying notes to the consolidated financial statements.

Table of Contents

Special Value Continuation Partners, LP
(A Delaware Limited Partnership)

Consolidated Schedule of Investments (Unaudited)

March 31, 2017

Issuer	Instrument	Ref	Floor			Spread			Total Coupon			Maturity	Principal		Cost			Fair Value			% of Total Cash and Investments			Notes
Debt Investments ^(A)
Activities Related to Credit Intermediation
Pegasus Business Intelligence, LP (Onyx Centersource)	First Lien Term Loan	LIBOR (Q)		1.00	%		6.75	%		7.90	%	12/20/2021	$	14,732,896	$	14,597,174		$	14,680,595			1.05	%
Pegasus Business Intelligence, LP (Onyx Centersource)	Revolver	LIBOR (Q)		1.00	%		6.75	%		N/A		12/20/2021	$	–		(6,336	)		(2,383	)		-			J
iPayment, Inc.	First Lien Term Loan B2	LIBOR (Q)		1.50	%		5.25	%		6.75	%	5/8/2017	$	11,289,051		11,244,616			11,232,605			0.81	%
																25,835,454			25,910,817			1.86	%
Activities Related to Real Estate
Associations, Inc.	First Lien FILO Term Loan	LIBOR (Q)		1.00	%		8.96	%		10.11	%	12/23/2019	$	12,859,453		12,754,268			12,988,048			0.93	%

Advertising and Public Relations Services
InMobi, Inc. (Singapore)	First Lien Delayed Draw Tranche 1 Term Loan (2.25% Exit Fee)	LIBOR (M)		0.33	%		10.17	%		11.17	%	12/31/2018	$	15,000,000		14,736,380			14,639,250			1.05	%		H/K

Air Transportation
Mesa Air Group, Inc.	Acquisition Loan	LIBOR (M)		-			7.25	%		8.19	%	7/15/2022	$	13,531,264		13,344,705			13,801,889			0.99	%
Mesa Airlines, Inc.	Engine Acquisition Delayed Draw Term Loan A	LIBOR (M)		-			7.25	%		8.25	%	12/14/2021	$	15,857,304		15,598,929			15,735,995			1.13	%
Mesa Airlines, Inc.	Engine Acquisition Delayed Draw Term Loan B	LIBOR (M)		-			7.25	%		8.25	%	2/28/2022	$	9,139,604		8,987,292			9,015,772			0.65	%
Mesa Airlines, Inc.	Engine Acquisition Delayed Draw Term Loan C	LIBOR (M)		-			7.25	%		N/A		12/31/2022	$	–		-			-			-
																37,930,926			38,553,656			2.77	%
Amusement and Recreation
AP Gaming I, LLC	First Lien Revolver	LIBOR (Q)		-			8.25	%		N/A		12/20/2018	$	–		(1,604,966	)		(750,000	)		(0.05	%)		J
VSS-Southern Holdings, LLC	First Lien Term Loan	LIBOR (Q)		1.00	%		6.5% Cash + 2% PIK			9.65	%	11/3/2020	$	24,342,738		23,916,272			24,023,848			1.72	%
VSS-Southern Holdings, LLC	Sr Secured Revolver	LIBOR (Q)		1.00	%		6.5% Cash + 2% PIK			N/A		11/3/2020	$	–		(15,384	)		(17,123	)		-			J
																22,295,922			23,256,725			1.67	%
Apparel Manufacturing
Broder Bros., Co.	First Lien Term Loan (First Out)	LIBOR (Q)		1.25	%		5.75	%		7.00	%	6/3/2021	$	9,640,000		9,493,514			9,736,400			0.70	%
Broder Bros., Co.	First Lien Term Loan B (Last Out)	LIBOR (Q)		1.25	%		12.25	%		13.50	%	6/3/2021	$	9,760,000		9,621,892			9,857,600			0.71	%
																19,115,406			19,594,000			1.41	%
Building Equipment Contractors
Hylan Datacom & Electrical, LLC	First Lien Term Loan	LIBOR (Q)		1.00	%		7.50	%		8.54	%	7/25/2021	$	14,205,048		14,015,350			14,148,228			1.01	%

Business Support Services
Enerwise Global Technologies, Inc.	Sr Secured Revolving Loan	LIBOR (Q)		0.23	%		8.52	%		N/A		11/30/2018	$	–		(13,002	)		5,800			-			J
Enerwise Global Technologies, Inc.	Sr Secured Term Loan (3.77% Exit Fee)	LIBOR (Q)		0.23	%		9.27	%		10.27	%	11/30/2019	$	23,312,500		23,056,935			23,346,303			1.67	%		K
STG-Fairway Acquisitions, Inc. (First Advantage)	Second Lien Term Loan	LIBOR (Q)		1.00	%		9.25	%		10.30	%	6/30/2023	$	31,000,000		30,606,690			29,313,600			2.10	%
																53,650,623			52,665,703			3.77	%
Chemicals
Anuvia Plant Nutrients Holdings, LLC	Sr Secured Term Loan (8.0% Exit Fee)	LIBOR (M)		-			10.63	%		12.40	%	2/1/2018	$	6,027,601		5,998,676			6,060,150			0.43	%		K
Green Biologics, Inc.	Sr Secured Delayed Draw Term Loan (12.4% Exit Fee)	Prime Rate		-			7.75	%		11.75	%	6/30/2019	$	15,000,000		14,646,627			14,173,500			1.02	%		K
iGM RFE1 B.V. (Netherlands)	First Lien Delayed Draw Term Loan	LIBOR (Q)		-			8.00	%		9.15	%	10/12/2021	$	888,608		882,751			920,154			0.07	%		H
iGM RFE1 B.V. (Netherlands)	First Lien Term Loan	LIBOR (Q)		-			8.00	%		9.15	%	10/12/2021	$	3,840,430		3,814,482			3,976,765			0.29	%		H
Nanosys, Inc.	First Lien Delayed Draw Term Loan (3.5% Exit Fee)	LIBOR (Q)		-			9.81	%		10.94	%	4/1/2019	$	10,000,000		9,497,959			9,691,000			0.69	%		K
																34,840,495			34,821,569			2.50	%
Communications Equipment Manufacturing
Globecomm Systems, Inc.	First Lien Term Loan	LIBOR (Q)		1.25	%		7.63	%		10.38	%	12/11/2018	$	14,442,682		14,298,255			14,166,826			1.02	%		B

Computer Systems Design and Related Services
Aptos Inc. (Canada)	First Lien Term Loan	LIBOR (Q)		1.00	%		6.75	%		7.90	%	9/1/2022	$	9,950,000		9,768,704			9,751,000			0.70	%		H
Bracket Intermediate Holding Corp.	Second Lien Term Loan	LIBOR (M)		1.00	%		9.00	%		10.00	%	3/14/2024	$	10,925,551		10,599,821			10,597,785			0.76	%
Dealersocket, Inc.	First Lien Term Loan	LIBOR (Q)		1.00	%		10.00	%		11.12	%	2/10/2021	$	17,500,000		16,923,123			17,435,250			1.25	%
Fidelis Acquisitionco, LLC	First Lien Term Loan	LIBOR (Q)		1.00	%		6.0% Cash + 2.0% PIK			9.00	%	11/4/2019	$	42,997,043		42,473,722			42,997,043			3.08	%
Fidelis Acquisitionco, LLC	Sr Secured Revolver	LIBOR (Q)		1.00	%		8.00	%		9.00	%	11/4/2019	$	3,182,143		3,182,143			3,182,143			0.23	%
MSC Software Corporation	Second Lien Term Loan	LIBOR (M)		1.00	%		7.50	%		8.50	%	5/29/2021	$	6,993,035		6,957,516			7,001,777			0.50	%
Marketo, Inc.	First Lien Term Loan	LIBOR (Q)		1.00	%		9.50	%		10.65	%	8/16/2021	$	23,295,455		22,665,828			23,125,398			1.66	%
Marketo, Inc.	Senior Secured Revolver	LIBOR (Q)		1.00	%		9.50	%		N/A		8/16/2021	$	–		(44,816	)		(12,443	)		-			J
OnX Enterprise Solutions, Ltd. (Canada)	First Lien Term Loan B	LIBOR (Q)		-			8.00	%		9.04	%	9/3/2018	$	2,308,067		2,308,067			2,308,067			0.17	%		H
OnX Enterprise Solutions, Ltd. (Canada)	First Lien Term Loan	LIBOR (Q)		-			8.00	%		9.04	%	9/3/2018	$	10,293,333		10,249,578			10,293,333			0.74	%		H
OnX USA, LLC	First Lien Term Loan B	LIBOR (Q)		-			8.00	%		9.04	%	9/3/2018	$	3,726,133		3,726,133			3,726,133			0.27	%
OnX USA, LLC	First Lien Term Loan	LIBOR (Q)		-			8.00	%		9.04	%	9/3/2018	$	3,146,667		3,141,380			3,146,667			0.23	%
Waterfall International, Inc.	First Lien Delayed Draw Term Loan (3.0% Exit Fee)	LIBOR (Q)		-			11.67	%		12.67	%	9/1/2018	$	4,800,000		4,730,576			5,305,680			0.38	%		K
																136,681,775			138,857,833			9.97	%
Data Processing and Hosting Services
IO Data Centers, USA, LLC	First Lien Term Loan	Fixed		-			9.00	%		9.00	%	1/15/2020	$	6,876,756		6,876,756			6,895,324			0.49	%

Educational Support Services
Edmentum, Inc.	Jr Revolving Facility	Fixed		-			5.00	%		5.00	%	6/9/2020	$	2,105,366		2,105,366			2,105,370			0.15	%		B
Edmentum Ultimate Holdings, LLC	Sr PIK Notes	Fixed		-			8.50	%		8.50	%	6/9/2020	$	2,908,070		2,908,070			2,908,070			0.21	%		B
Edmentum Ultimate Holdings, LLC	Jr PIK Notes	Fixed		-			10.00	%		10.00	%	6/9/2020	$	13,373,646		12,905,008			12,410,743			0.89	%		B
																17,918,444			17,424,183			1.25	%
Electronic Component Manufacturing
Soraa, Inc.	Tranche A Term Loan (3.0% Exit Fee)	LIBOR (M)		0.44	%		9.33	%		10.33	%	3/1/2018	$	12,690,841		12,410,761			12,444,639			0.89	%		K
Soraa, Inc.	Tranche B Term Loan	LIBOR (M)		0.44	%		9.33	%		10.33	%	9/1/2017	$	1,603,779		1,574,011			1,578,199			0.11	%
																13,984,772			14,022,838			1.00	%

Table of Contents

Special Value Continuation Partners, LP
(A Delaware Limited Partnership)

Consolidated Schedule of Investments (Continued) (Unaudited)

March 31, 2017

Issuer	Instrument	Ref	Floor			Spread			Total Coupon			Maturity	Principal		Cost			Fair Value			% of Total Cash and Investments			Notes
Debt Investments (continued)
Electric Power Generation, Transmission and Distribution
GlassPoint Solar, Inc.	First Lien Term Loan (5.0% Exit Fee)	LIBOR (M)		-			11.44	%		12.56	%	8/1/2020	$	4,000,000	$	3,606,790		$	3,725,202			0.27	%		K
GlassPoint Solar, Inc.	First Lien Delay Draw Term Loan A	LIBOR (M)		-			11.44	%		N/A		8/1/2020	$	–		-			-			-
GlassPoint Solar, Inc.	First Lien Delay Draw Term Loan B	LIBOR (M)		-			11.44	%		N/A		8/1/2020	$	–		-			-			-
Holocene Renewable Energy Fund 3, LLC (Conergy)	First Lien Term Loan	Fixed		-			9% Cash + 1% PIK			10.00	%	9/10/2017	$	7,556,229		7,541,009			7,513,159			0.54	%
																11,147,799			11,238,361			0.81	%
Equipment Leasing
36th Street Capital Partners Holdings, LLC	Senior Note	Fixed		-			12.00	%		12.00	%	11/1/2020	$	30,956,272		30,956,272			30,956,272			2.22	%		E/F
Essex Ocean, LLC (Solexel)	Sr Secured Term Loan	Fixed		-			8.00	%		8.00	%	8/15/2018	$	1,696,898		1,696,898			1,237,887			0.09	%
																32,653,170			32,194,159			2.31	%
Facilities Support Services
NANA Development Corp.	First Lien Term Loan B	LIBOR (M)		1.25	%		6.75	%		8.00	%	3/15/2018	$	703,611		675,274			693,057			0.05	%

Financial Investment Activities
Magnolia Finance V plc (Cayman Islands)	Asset-Backed Credit Linked Notes	Fixed		-			13.13	%		13.13	%	8/2/2021	$	15,000,000		15,000,000			15,030,000			1.08	%		E/H

Grocery Stores
Bashas, Inc.	First Lien FILO Term Loan	LIBOR (M)		1.50	%		8.80	%		10.30	%	10/8/2019	$	9,135,537		9,100,587			9,226,892			0.66	%

Hospitals
KPC Healthcare, Inc.	First Lien Term Loan	LIBOR (Q)		1.00	%		9.00	%		10.33	%	2/6/2020	$	19,801,933		19,665,937			19,900,943			1.43	%
Pacific Coast Holdings Investment, LLC (KPC Healthcare)	First Lien Term Loan	LIBOR (M)		1.00	%		7.50	%		8.50	%	2/14/2021	$	29,288,064		28,865,762			28,848,743			2.07	%
																48,531,699			48,749,686			3.50	%
Insurance
Alera Group Intermediate Holdings, Inc.	First Lien Delayed Draw Term Loan	LIBOR (Q)		1.00	%		5.50	%		N/A		12/30/2022	$	–		(8,333	)		(7,917	)		-			J
Alera Group Intermediate Holdings, Inc.	First Lien Revolver	LIBOR (Q)		1.00	%		5.50	%		N/A		12/30/2021	$	–		(7,595	)		(7,216	)		-			J
Alera Group Intermediate Holdings, Inc.	First Lien Term Loan	LIBOR (Q)		1.00	%		5.50	%		6.50	%	12/30/2022	$	3,407,121		3,375,184			3,374,753			0.24	%
Association Member Benefits Advisors, LLC	Second Lien Term Loan	LIBOR (M)		1.00	%		8.75	%		9.75	%	6/8/2023	$	8,277,983		8,123,129			8,230,384			0.59	%
US Apple Holdco, LLC (Ventiv Technology)	First Lien FILO Term Loan	LIBOR (Q)		0.50	%		13.62	%		14.61	%	8/29/2019	$	20,045,455		19,601,825			20,045,455			1.44	%
																31,084,210			31,635,459			2.27	%
Lessors of Nonfinancial Licenses
ABG Intermediate Holdings 2, LLC	Second Lien Term Loan	LIBOR (Q)		1.00	%		8.50	%		9.65	%	5/27/2022	$	16,573,588		16,438,751			16,822,192			1.21	%
ABG Intermediate Holdings 2, LLC	Second Lien Incremental Term Loan	LIBOR (Q)		1.00	%		8.50	%		9.65	%	5/27/2022	$	3,426,412		3,398,716			3,477,808			0.25	%
Kenneth Cole Productions, Inc.	First Lien FILO Term Loan	LIBOR (M)		1.00	%		9.65	%		10.65	%	3/21/2022	$	35,310,220		34,960,857			34,868,842			2.50	%
																54,798,324			55,168,842			3.96	%
Management, Scientific, and Technical Consulting Services
Dodge Data & Analytics, LLC	First Lien Term Loan	LIBOR (Q)		1.00	%		8.75	%		9.94	%	10/31/2019	$	23,646,472		23,305,524			23,640,560			1.70	%

Motion Picture and Video Industries
NEG Holdings, LLC (CORE Entertainment)	First Lien Term Loan	LIBOR (Q)		1.00	%		8.0% PIK			9.15	%	10/17/2022	$	1,478,480		1,478,480			1,426,807			0.10	%

Nondepository Credit Intermediation
Auto Trakk SPV, LLC	First Lien Delayed Draw Term Loan	LIBOR (M)		0.50	%		9.50	%		10.41	%	12/21/2021	$	32,392,942		31,920,714			32,213,653			2.31	%
Caliber Home Loans, Inc.	First Lien Delayed Draw Term Loan	LIBOR (M)		1.00	%		6.50	%		7.50	%	6/30/2020	$	14,444,444		14,264,345			14,664,444			1.05	%
Caribbean Financial Group (Cayman Islands)	Sr Secured Notes	Fixed		-			11.50	%		11.50	%	11/15/2019	$	28,678,000		28,576,292			29,394,950			2.11	%		E/G/H
Daymark Financial Acceptance, LLC	First Lien Delayed Draw Term Loan	LIBOR (Q)		-			9.50	%		10.53	%	1/12/2020	$	17,500,000		17,316,726			17,038,000			1.22	%
Greystone Select Holdings, LLC	First Lien Term Loan	LIBOR (Q)		1.00	%		8.00	%		9.00	%	3/26/2021	$	16,022,574		15,880,551			16,182,800			1.16	%
Trade Finance Funding I, Ltd. (Cayman Islands)	Secured Class B Notes	Fixed		-			10.75	%		10.75	%	11/13/2018	$	15,084,000		15,084,000			12,972,240			0.93	%		E/H
																123,042,628			122,466,087			8.78	%
Other Information Services
Asset International, Inc.	Delayed Draw Term Loan	LIBOR (Q)		1.00	%		8.50	%		9.65	%	7/31/2020	$	1,251,626		1,229,491			1,249,019			0.09	%
Asset International, Inc.	Revolver Loan	LIBOR (Q)		1.00	%		8.50	%		9.65	%	7/31/2020	$	491,303		480,936			490,075			0.04	%
Asset International, Inc.	First Lien Term Loan	LIBOR (Q)		1.00	%		8.50	%		9.65	%	7/31/2020	$	15,311,040		15,122,738			15,291,901			1.10	%
Simmons Research, LLC	First Lien Term Loan	LIBOR (Q)		0.50	%		10.50	%		11.69	%	12/11/2020	$	3,098,732		3,050,523			3,135,917			0.22	%
TCH-2 Holdings, LLC (TravelClick)	Second Lien Term Loan	LIBOR (M)		1.00	%		7.75	%		8.75	%	11/6/2021	$	19,988,392		19,778,668			19,813,494			1.42	%		G
																39,662,356			39,980,406			2.87	%
Other Manufacturing
AGY Holding Corp.	Sr Secured Term Loan	Fixed		-			12.00	%		12.00	%	9/15/2018	$	4,869,577		4,869,577			4,869,710			0.35	%		B
AGY Holding Corp.	Second Lien Notes	Fixed		-			11.00	%		11.00	%	11/15/2018	$	9,268,000		7,586,317			9,268,000			0.66	%		B/E
AGY Holding Corp.	Delayed Draw Term Loan	Fixed		-			12.00	%		12.00	%	9/15/2018	$	1,049,146		1,049,146			1,049,147			0.08	%		B
Bioventus, LLC	Second Lien Term Loan	LIBOR (M)		1.00	%		6.25	%		7.25	%	11/15/2021	$	4,968,750		4,875,657			4,981,172			0.36	%
Boomerang Tube, LLC	Subordinated Notes	LIBOR (M)		-			17.50	%		N/A		2/1/2021	$	1,030,741		1,030,741			107,197			0.01	%		C
																19,411,438			20,275,226			1.46	%
Other Publishing
Bisnow, LLC	First Lien Revolver	LIBOR (Q)		-			9.00	%		N/A		4/29/2021	$	–		(24,000	)		15,000			-			J
Bisnow, LLC	First Lien Term Loan	LIBOR (Q)		-			9.00	%		10.19	%	4/29/2021	$	8,394,959		8,252,293			8,361,379			0.60	%
Contextmedia Health, LLC	First Lien Term Loan B	LIBOR (M)		1.00	%		6.50	%		7.50	%	12/23/2021	$	13,465,909		12,163,700			13,465,909			0.96	%
																20,391,993			21,842,288			1.56	%
Other Telecommunications
Securus Technologies, Inc.	Second Lien Term Loan	LIBOR (Q)		1.25	%		7.75	%		9.00	%	4/30/2021	$	4,516,129		4,470,968			4,527,419			0.32	%

Plastics Manufacturing
Iracore International, Inc.	Sr Secured Notes	Fixed		-			9.50	%		9.50	%	6/1/2018	$	13,781,000		14,291,250			4,177,710			0.30	%		C/E/G

Radio and Television Broadcasting
Fuse, LLC	Sr Secured Notes	Fixed		-			10.38	%		10.38	%	7/1/2019	$	7,312,000		7,312,000			4,429,851			0.32	%		E/G
NEP/NCP Holdco, Inc.	Second Lien Term Loan	LIBOR (Q)		1.25	%		8.75	%		10.00	%	7/22/2020	$	15,981,496		15,746,113			16,221,218			1.16	%		G
																23,058,113			20,651,069			1.48	%

Table of Contents

Special Value Continuation Partners, LP

(A Delaware Limited Partnership)

Consolidated Schedule of Investments (Continued) (Unaudited)

March 31, 2017

Issuer	Instrument	Ref	Floor			Spread			Total Coupon			Maturity	Principal		Cost			Fair Value			% of Total Cash and Investments			Notes
Debt Investments (continued)
Real Estate Leasing
Home Partners of America, Inc.	First Lien Term Loan	LIBOR (M)		1.00	%		7.00	%		8.00	%	10/13/2022	$	5,000,000	$	4,907,790		$	5,000,000			0.36	%

Restaurants
RM OpCo, LLC (Real Mex)	Convertible Second Lien Term Loan Tranche B-1	Fixed		-			8.50	%		8.50	%	3/30/2018	$	1,984,960		1,984,960			1,984,960			0.14	%		B
RM OpCo, LLC (Real Mex)	First Lien Term Loan Tranche A	Fixed		-			7.00	%		7.00	%	3/30/2018	$	4,877,999		4,594,613			4,877,999			0.35	%		B
RM OpCo, LLC (Real Mex)	Second Lien Term Loan Tranche B	Fixed		-			8.50	%		8.50	%	3/30/2018	$	9,890,374		9,890,374			1,335,200			0.09	%		B
RM OpCo, LLC (Real Mex)	Second Lien Term Loan Tranche B-1	Fixed		-			8.50	%		8.50	%	3/30/2018	$	3,114,816		3,099,394			3,114,816			0.22	%		B
RM OpCo, LLC (Real Mex)	Sr Convertible Second Lien Term Loan B	Fixed		-			8.50	%		8.50	%	3/30/2018	$	5,600,829		5,600,829			5,600,829			0.40	%		B
																25,170,170			16,913,804			1.20	%
Retail
Bon-Ton, Inc.	First Lien Tranche A-1 Revolver	LIBOR (Q)		1.00	%		9.50	%		10.50	%	3/15/2021	$	4,432,934		4,354,318			4,393,038			0.31	%
Gander Mountain Company	Second Lien Term Loan	LIBOR (M)		-			12.00	%		13.05	%	6/15/2018	$	14,740,910		14,637,679			14,888,319			1.07	%
The Gymboree Corporation	First Lien Term Loan	LIBOR (M)		-			10.25	%		11.30	%	9/24/2020	$	12,692,511		12,469,507			12,946,362			0.93	%
																31,461,504			32,227,719			2.31	%
Satellite Telecommunications
Avanti Communications Group, PLC (United Kingdom)	Delayed Draw PIK Toggle Notes	Fixed		-			10.00	%		10.00	%	11/30/2022	$	–		(21,860	)		(22,538	)		-			E/H/J
Avanti Communications Group, PLC (United Kingdom)	Sr New Money Initial Note	Fixed		-			10.00	%		10.00	%	10/1/2021	$	1,239,631		1,203,193			1,121,866			0.08	%		E/G/H
Avanti Communications Group, PLC (United Kingdom)	Sr Second-Priority PIK Toggle Note	Fixed		-			10.00	%		10.00	%	10/1/2021	$	3,163,188		3,073,088			2,862,685			0.21	%		E/G/H
Avanti Communications Group, PLC (United Kingdom)	Sr Secured Third-Priority Note	Fixed		-			12.00	%		12.00	%	10/1/2023	$	6,327,730		2,934,259			2,594,369			0.19	%		E/G/H
																7,188,680			6,556,382			0.48	%

Scientific Research and Development Services
BPA Laboratories, Inc.	Second Lien Term Loan	LIBOR (Q)		-			2.50	%		3.54	%	7/1/2017	$	3,081,346		1,878,682			2,079,908			0.15	%
Envigo Holdings, Inc.	First Lien Term Loan	LIBOR (Q)		1.00	%		8.50	%		9.53	%	11/3/2021	$	35,104,936		34,454,676			34,841,649			2.50	%
																36,333,358			36,921,557			2.65	%

Software Publishing
Acronis International GmbH (Switzerland)	First Lien Term Loan	LIBOR (Q)		1.00	%		11.50	%		12.69	%	6/9/2017	$	27,570,661		27,578,796			27,438,322			1.97	%		H
ArcServe (USA), LLC	Second Lien Term Loan	LIBOR (Q)		0.50	%		8.5% Cash + 1.25% PIK			10.90	%	1/31/2020	$	30,323,679		29,978,013			29,272,963			2.10	%
Autoalert, LLC	First Lien Term Loan	LIBOR (Q)		0.25	%		5.75% Cash + 3% PIK			9.94	%	3/31/2019	$	36,231,157		35,913,209			36,439,486			2.61	%
Fishbowl, Inc.	First Lien Term Loan	LIBOR (Q)		-			2.8% Cash + 8.45% PIK			12.44	%	1/26/2022	$	18,432,074		17,826,924			17,786,952			1.27	%
Mapp Digital US, LLC	First Lien Term Loan	LIBOR (Q)		-			9.50	%		10.65	%	12/31/2017	$	5,692,765		5,635,544			5,712,690			0.41	%
Newscycle Solutions, Inc.	Second Lien Term Loan	LIBOR (Q)		-			13.00	%		14.11	%	9/10/2021	$	11,513,361		11,213,956			11,493,214			0.82	%
Newscycle Solutions AB (Sweden)	Second Lien Term Loan B	LIBOR (Q)		-			13.00	%		14.11	%	9/10/2021	$	11,513,362		11,213,956			11,493,214			0.82	%		H
Soasta, Inc.	First Lien Term Loan (8.0% Exit Fee)	LIBOR (M)		-			9.56	%		10.69	%	4/1/2019	$	17,880,435		17,640,758			19,351,995			1.39	%		K
Soasta, Inc.	Convertible Promissory Note	Fixed		-			10.00	%		10.00	%	12/16/2017	$	2,282,609		2,282,609			6,043,435			0.43	%
Tradeshift Holdings, Inc.	First Lien Delayed Draw Term Loan (7.0% Exit Fee)	LIBOR (M)		-			8.88	%		10.00	%	9/1/2020	$	11,470,517		10,660,339			10,820,142			0.78	%		K
Utilidata, Inc.	First Lien Delayed Draw Term Loan (1.0% Exit Fee)	LIBOR (M)		0.62	%		9.88	%		10.88	%	1/1/2019	$	2,852,742		2,778,166			2,799,967			0.20	%		K
																172,722,270			178,652,380			12.80	%
Textile Furnishings Mills
Lexmark Carpet Mills, Inc.	First Lien Term Loan	LIBOR (Q)		1.00	%		10.00	%		11.00	%	12/19/2019	$	22,570,814		22,570,814			22,700,596			1.63	%
Lexmark Carpet Mills, Inc.	First Lien Term Loan B	LIBOR (Q)		1.00	%		10.00	%		11.00	%	12/19/2019	$	7,742,314		7,615,554			7,786,832			0.56	%
																30,186,368			30,487,428			2.19	%
Utility System Construction
Kawa Solar Holdings Limited (Cayman Islands)	Bank Guarantee Credit Facility	Fixed		-			8.2% Cash + 3.5% PIK			11.70	%	7/2/2017	$	21,464,657		21,464,657			21,464,657			1.54	%		F/H
Kawa Solar Holdings Limited (Cayman Islands)	Revolving Credit Facility	Fixed		-			8.20	%		8.20	%	7/2/2017	$	4,000,000		4,000,000			3,075,000			0.22	%		F/H
																25,464,657			24,539,657			1.76	%
Wholesalers
NILCO, LLC	First Lien Term Loan	LIBOR (Q)		1.00	%		9.50	%		10.65	%	9/1/2021	$	20,756,994		20,197,037			21,379,704			1.53	%

Wired Telecommunications Carriers
Alpheus Communications, LLC	First Lien Delayed Draw FILO Term Loan	LIBOR (M)		1.00	%		7.42	%		8.78	%	5/31/2018	$	329,845		326,566			325,227			0.02	%
Alpheus Communications, LLC	First Lien Delayed Draw FILO Term Loan	LIBOR (M)		1.00	%		7.42	%		8.60	%	5/31/2018	$	1,338,648		1,331,125			1,314,901			0.09	%
Alpheus Communications, LLC	First Lien FILO Term Loan	LIBOR (M)		1.00	%		7.42	%		8.42	%	5/31/2018	$	7,207,350		7,135,699			7,107,528			0.51	%
U.S. TelePacific Corp.	First Lien Notes	LIBOR (Q)		1.00	%		8.50	%		9.62	%	2/24/2021	$	10,000,000		9,731,525			10,000,000			0.72	%
																18,524,915			18,747,656			1.34	%
Wireless Telecommunications Carriers
Gogo, LLC	Sr Secured Notes	Fixed		-			12.50	%		12.50	%	7/1/2022	$	10,000,000		10,000,000			11,312,500			0.81	%		E/G

Total Debt Investments																1,279,195,388			1,273,607,815			91.34	%

Table of Contents

Special Value Continuation Partners, LP

(A Delaware Limited Partnership)

Consolidated Schedule of Investments (Continued) (Unaudited)

March 31, 2017

Issuer	Instrument	Ref	Floor	Spread	Total Coupon	Maturity	Shares		Cost		Fair Value		% of Total Cash and Investments			Notes
Equity Securities
Advertising and Public Relations Services
InMobi, Inc. (Singapore)	Warrants to Purchase Stock							1,049,996	$	276,492	$	98,910		0.01	%		C/E/H

Air Transportation
Aircraft Leased to United Airlines, Inc.
United N659UA-767, LLC (N659UA)	Trust Beneficial Interests							683		3,160,496		3,090,678		0.22	%		E/F
United N661UA-767, LLC (N661UA)	Trust Beneficial Interests							688		3,280,344		3,161,098		0.23	%		E/F
Epic Aero, Inc. (One Sky)	Warrants to Purchase Common Stock							1,843		855,313		3,408,386		0.24	%		C/E
										7,296,153		9,660,162		0.69	%
Business Support Services
Findly Talent, LLC	Membership Units							708,229		230,938		143,133		0.01	%		C/E
STG-Fairway Holdings, LLC (First Advantage)	Class A Units							841,479		325,432		779,714		0.06	%		C/E
										556,370		922,847		0.07	%
Chemicals
Green Biologics, Inc.	Warrants to Purchase Stock							909,300		272,807		1,000		-			C/E
Nanosys, Inc.	Warrants to Purchase Common Stock							800,000		605,266		640,640		0.05	%		C/E
										878,073		641,640		0.05	%
Communications Equipment Manufacturing
Wasserstein Cosmos Co-Invest, L.P. (Globecomm)	Limited Partnership Units							5,000,000		5,000,000		233,000		0.02	%		B/C/E

Computer Systems Design and Related Services
Waterfall International, Inc.	Series B Preferred Stock							1,428,571		1,000,000		1,025,143		0.07	%		C/E
Waterfall International, Inc.	Warrants to Purchase Stock							920,000		89,847		55,752		-			C/E
										1,089,847		1,080,895		0.07	%
Data Processing and Hosting Services
Anacomp, Inc.	Class A Common Stock							1,255,527		26,711,047		1,117,419		0.08	%		C/E/F
Rightside Group, Ltd.	Warrants							498,855		2,778,622		738,685		0.05	%		C/E
										29,489,669		1,856,104		0.13	%
Educational Support Services
Edmentum Ultimate Holdings, LLC	Class A Common Units							159,515		680,226		1,123,589		0.08	%		B/C/E

Electric Power Generation, Transmission and Distribution
GlassPoint Solar, Inc.	Warrants to Purchase Series C-1 Preferred Stock							1,100,000		265,618		275,330		0.02	%		C/E

Electrical Equipment Manufacturing
NEXTracker, Inc.	Series B Preferred Stock							558,884		-		1,548,109		0.11	%		E
NEXTracker, Inc.	Series C Preferred Stock							17,640		-		48,863		-			E
										-		1,596,972		0.11	%
Electronic Component Manufacturing
Soraa, Inc.	Warrants to Purchase Common Stock							3,071,860		478,899		9,216		-			C/E

Equipment Leasing
36th Street Capital Partners Holdings, LLC	Membership Units							7,280,139		7,280,139		8,664,822		0.62	%		C/E/F
Essex Ocean II, LLC	Membership Units							199,430		103,398		-		-			C/E/F
										7,383,537		8,664,822		0.62	%
Financial Investment Activities
GACP I, LP	Membership Units							18,520,966		18,611,983		18,891,480		1.35	%		C/E/I
Marsico Holdings, LLC	Common Interest Units							168,698		172,694		1,687		-			C/E/I
										18,784,677		18,893,167		1.35	%
Metal and Mineral Mining
EPMC HoldCo, LLC	Membership Units							1,312,720		-		210,035		0.02	%		B/E

Motion Picture and Video Industries
NEG Parent, LLC	Class A Units							1,182,779		1,235,194		1,278,702		0.09	%		C/E
NEG Parent, LLC	Class P Units							1,537,613		1,537,613		1,548,376		0.11	%		C/E
NEG Parent, LLC	Class A Warrants to Purchase Class A Units							343,387		196,086		193,842		0.01	%		C/E
NEG Parent, LLC	Class B Warrants to Purchase Class A Units							346,794		198,032		195,765		0.02	%		C/E
										3,166,925		3,216,685		0.23	%
Other Information Services
SoundCloud, Ltd. (United Kingdom)	Warrants to Purchase Preferred Stock							946,498		79,082		81,304		0.01	%		C/E/H

Other Manufacturing
AGY Holding Corp.	Common Stock							1,333,527		-		-		-			B/C/E
Boomerang Tube Holdings, Inc.	Common Stock							24,288		243		-		-			C/E
KAGY Holding Company, Inc.	Series A Preferred Stock							9,778		1,091,200		5,213,117		0.37	%		B/C/E
										1,091,443		5,213,117		0.37	%
Radio and Television Broadcasting
Fuse Media, LLC	Warrants to Purchase Common Stock							233,470		300,322		-		-			C/E

Restaurants
RM Holdco, LLC (Real Mex)	Equity Participation							24		-		-		-			B/C/E
RM Holdco, LLC (Real Mex)	Membership Units							13,161,000		2,010,777		-		-			B/C/E
										2,010,777		-		-
Retail
Shop Holding, LLC (Connexity)	Class A Units							507,167		480,049		-		-			C/E

Table of Contents

Special Value Continuation Partners, LP
(A Delaware Limited Partnership)

Consolidated Schedule of Investments (Continued) (Unaudited)

March 31, 2017

Issuer	Instrument	Ref	Floor	Spread	Total Coupon	Maturity	Shares		Cost		Fair Value		% of Total Cash and Investments			Notes
Equity Securities (continued)
Satellite Telecommunications
Avanti Communications Group, PLC (United Kingdom)	Common Stock							245,368	$	3,086	$	40,032		-			C/D/H


Software Publishing
Blackline Intermediate, Inc.	Warrants to Purchase Common Stock							246,546		522,678		5,951,872		0.43	%		C/E
Soasta, Inc.	Warrants to Purchase Series F Preferred Stock							1,251,630		533,192		887,281		0.07	%		C/E
Tradeshift, Inc.	Warrants to Purchase Series D Preferred Stock							1,712,930		577,843		564,068		0.04	%
Utilidata, Inc.	Warrants to Purchase Preferred Stock							719,998		216,336		57,240		-			C/E
										1,850,049		7,460,461		0.54	%
Utility System Construction
Kawa Solar Holdings Limited (Cayman Islands)	Ordinary Shares							2,332,594		-		-		-			C/E/F/H
Kawa Solar Holdings Limited (Cayman Islands)	Series B Preferred Shares							93,023		1,395,349		1,395,583		0.10	%		C/E/F/H
										1,395,349		1,395,583		0.10	%
Wired Telecommunications Carriers
V Telecom Investment S.C.A. (Vivacom) (Luxembourg)	Common Shares							1,393		3,236,256		2,228,100		0.16	%		C/D/E/H

Total Equity Securities										85,792,899		64,901,971		4.65	%

Total Investments									$	1,364,988,287	$	1,338,509,786

Cash and Cash Equivalents
Cash Held on Account at Various Institutions												55,964,496		4.01	%
Cash and Cash Equivalents												55,964,496		4.01	%

Total Cash and Investments											$	1,394,474,282		100.00	%		L

Notes to Consolidated Schedule of Investments:

^(A)	Investments in bank debt generally are bought and sold among institutional investors in transactions not subject to registration under the Securities Act of 1933. Such transactions are generally subject to contractual restrictions, such as approval of the agent or borrower.

^(B)	Non-controlled affiliate – as defined under the Investment Company Act of 1940 (ownership of between 5% and 25% of the outstanding voting securities of this issuer). See Consolidated Schedule of Changes in Investments in Affiliates.

^(C)	Non-income producing security.

^(D)	Investment denominated in foreign currency. Amortized cost and fair value converted from foreign currency to US dollars. Foreign currency denominated investments are generally hedged for currency exposure.

^(E)	Restricted security. (See Note 2)

^(F)

Controlled issuer – as defined under the Investment Company Act of 1940 (ownership of 25% or more of the outstanding voting securities of this issuer). Investment is not more than 50% of the outstanding voting securities of the issuer nor deemed to be a significant subsidiary. See Consolidated Schedule of Changes in Investments in Affiliates.

^(G)	Investment has been segregated to collateralize certain unfunded commitments.

^(H)

Non-U.S. company or principal place of business outside the U.S. and as a result the investment is not a qualifying asset under Section 55(a) of the Investment Company Act. Under the Investment Company Act, the Partnership may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of the Partnership’s total assets.

^(I)

Deemed an investment company under Section 3(c) of the Investment Company Act and as a result the investment is not a qualifying asset under Section 55(a) of the Investment Company Act. Under the Investment Company Act, the Partnership may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of the Partnership’s total assets.

^(J)	Negative balances relate to an unfunded commitment that was acquired and/or valued at a discount.

^(K)	In addition to the stated coupon, investment has an exit fee payable upon repayment of the loan in an amount equal to the percentage of the original principal amount shown.

^(L)	All cash and investments, except those referenced in Notes G above, are pledged as collateral under certain debt as described in Note 4 to the Consolidated Financial Statements.

LIBOR or EURIBOR resets monthly (M), quarterly (Q), semiannually (S), or annually (A).

Aggregate acquisitions and aggregate dispositions of investments, other than government securities, totaled $139,793,080 and $117,033,249, respectively, for the three months ended March 31, 2017. Aggregate acquisitions includes investment assets received as payment in kind. Aggregate dispositions includes principal paydowns on and maturities of debt investments. The total value of restricted securities and bank debt as of March 31, 2017 was $1,337,798,489 or 95.9% of total cash and investments of the Partnership. As of March 31, 2017, approximately 13.8% of the total assets of the Partnership were not qualifying assets under Section 55(a) of the 1940 Act.

See accompanying notes to the consolidated financial statements.

Table of Contents

Special Value Continuation Partners, LP
(A Delaware Limited Partnership)

Consolidated Schedule of Investments

December 31, 2016

Issuer	Instrument	Ref	Floor			Spread			Total Coupon			Maturity	Principal		Cost			Fair Value			% of Total Cash and Investments			Notes
Debt Investments ^(A)
Activities Related to Credit Intermediation
Pegasus Business Intelligence, LP (Onyx Centersource)	First Lien Term Loan	LIBOR (Q)		1.00	%		6.75	%		7.75	%	12/20/2021	$	14,769,821	$	14,623,499		$	14,622,123			1.07	%
Pegasus Business Intelligence, LP (Onyx Centersource)	Revolver	LIBOR (Q)		1.00	%		6.75	%		N/A		12/20/2021	$	–		(6,669	)		(6,713	)		-			J
iPayment, Inc.	First Lien Term Loan B2	LIBOR (Q)		1.50	%		5.25	%		6.75	%	5/8/2017	$	11,289,051		11,134,310			10,893,934			0.80	%
																25,751,140			25,509,344			1.87	%
Activities Related to Real Estate
Associations, Inc.	First Lien FILO Term Loan	LIBOR (Q)		1.00	%		8.96	%		9.96	%	12/23/2019	$	12,891,845		12,773,127			12,898,291			0.94	%

Advertising and Public Relations Services
InMobi, Inc. (Singapore)	First Lien Delayed Draw Tranche 1 Term Loan (1.25% Exit Fee)	LIBOR (M)		0.33	%		10.17	%		10.98	%	9/1/2018	$	15,000,000		14,772,946			14,704,508			1.07	%		H/K
InMobi, Inc. (Singapore)	First Lien Delayed Draw Tranche 2 Term Loan	LIBOR (M)		0.33	%		10.17	%		N/A		9/1/2018	$	–		-			-			-			H
InMobi, Inc. (Singapore)	First Lien Delayed Draw Tranche 3 Term Loan	LIBOR (M)		0.33	%		10.17	%		N/A		9/1/2018	$	–		-			-			-			H
																14,772,946			14,704,508			1.07	%
Air Transportation
Mesa Air Group, Inc.	Acquisition Loan	LIBOR (M)		-			7.25	%		8.00	%	7/15/2022	$	14,042,971		13,839,296			14,323,830			1.05	%
Mesa Airlines, Inc.	Engine Acquisition Delayed Draw Term Loan A	LIBOR (M)		-			7.25	%		8.00	%	12/14/2021	$	16,546,652		16,259,013			16,257,105			1.19	%
Mesa Airlines, Inc.	Engine Acquisition Delayed Draw Term Loan B	LIBOR (M)		-			7.25	%		N/A		2/28/2022	$	–		-			-			-
Mesa Airlines, Inc.	Engine Acquisition Delayed Draw Term Loan C	LIBOR (M)		-			7.25	%		N/A		12/31/2022	$	–		-			-			-
																30,098,309			30,580,935			2.24	%
Amusement and Recreation
AP Gaming I, LLC	First Lien Revolver	LIBOR (M)		-			8.25	%		N/A		12/20/2018	$	–		(1,655,756	)		(937,500	)		(0.07	%)		J
VSS-Southern Holdings, LLC	First Lien Term Loan	LIBOR (Q)		1.00	%		6.5% Cash + 2% PIK			9.50	%	11/3/2020	$	24,220,291		23,755,180			23,735,885			1.73	%
VSS-Southern Holdings, LLC	Sr Secured Revolver	LIBOR (Q)		1.00	%		6.5% Cash + 2% PIK			N/A		11/3/2020	$	–		(16,444	)		(17,123	)		-			J
																22,082,980			22,781,262			1.66	%

Apparel Manufacturing
Broder Bros., Co.	First Lien Term Loan (First Out)	LIBOR (Q)		1.25	%		5.75	%		7.00	%	6/3/2021	$	9,700,000		9,541,402			9,700,000			0.71	%
Broder Bros., Co.	First Lien Term Loan B (Last Out)	LIBOR (Q)		1.25	%		12.25	%		13.50	%	6/3/2021	$	9,800,000		9,646,339			9,800,000			0.72	%
JH Apparel Holdings, LLC	First Lien FILO Term Loan	LIBOR (M)		1.00	%		9.60	%		10.60	%	4/8/2019	$	2,714,632		2,705,143			2,741,779			0.20	%
																21,892,884			22,241,779			1.63	%
Building Equipment Contractors
Hylan Datacom & Electrical, LLC	First Lien Delayed Draw Term Loan	LIBOR (Q)		1.00	%		7.50	%		8.50	%	7/25/2021	$	–		-			-			-
Hylan Datacom & Electrical, LLC	First Lien Term Loan	LIBOR (Q)		1.00	%		7.50	%		8.50	%	7/25/2021	$	14,295,589		14,092,734			14,188,374			1.04	%
																14,092,734			14,188,374			1.04	%
Business Support Services
Enerwise Global Technologies, Inc.	Sr Secured Revolving Loan	LIBOR (Q)		0.23	%		8.52	%		N/A		11/30/2018	$	–		(17,798	)		70,000			0.01	%		J
Enerwise Global Technologies, Inc.	Sr Secured Term Loan (1.0% Exit Fee)	LIBOR (Q)		0.23	%		9.27	%		10.12	%	11/30/2019	$	23,937,500		23,867,666			24,356,406			1.78	%		K
STG-Fairway Acquisitions, Inc. (First Advantage)	Second Lien Term Loan	LIBOR (Q)		1.00	%		9.25	%		10.25	%	6/30/2023	$	31,000,000		30,588,757			30,336,600			2.22	%
																54,438,625			54,763,006			4.01	%
Chemicals
Anuvia Plant Nutrients Holdings, LLC	Sr Secured Term Loan (8.0% Exit Fee)	LIBOR (Q)		-			10.63	%		11.63	%	2/1/2018	$	7,563,676		7,995,360			8,250,457			0.60	%		K
Green Biologics, Inc.	Sr Secured Delayed Draw Term Loan (12.4% Exit Fee)	Prime Rate		-			7.75	%		11.50	%	6/30/2019	$	15,000,000		15,468,439			14,905,500			1.09	%		K
iGM RFE1 B.V. (Netherlands)	First Lien Delayed Draw Term Loan	LIBOR (Q)		-			8.00	%		9.00	%	10/12/2021	$	253,581		245,565			251,684			0.02	%		H
iGM RFE1 B.V. (Netherlands)	First Lien Term Loan	LIBOR (Q)		-			8.00	%		9.00	%	10/12/2021	$	3,864,583		3,836,083			3,835,599			0.28	%		H
Nanosys, Inc.	First Lien Delayed Draw Term Loan (3.5% Exit Fee)	LIBOR (Q)		-			9.81	%		10.75	%	4/1/2019	$	10,000,000		9,526,456			9,712,000			0.71	%		K
																37,071,903			36,955,240			2.70	%
Communications Equipment Manufacturing
Globecomm Systems, Inc.	First Lien Term Loan	LIBOR (Q)		1.25	%		7.63	%		8.88	%	12/11/2018	$	14,480,001		14,335,200			14,480,002			1.06	%		B
Triangle Acquisition Co. (Polycom)	First Lien Term Loan	LIBOR (Q)

Special Value Continuation Partners, LP 10-Q