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Our primary investment objective is to provide consistently attractive returns. Barings employs fundamental credit analysis, and targets investments in businesses with relatively low levels of cyclicality (i.e., the risk of business cycles or other economic cycles adversely affecting them) and operating risk relative to other businesses on this market segment. We source investments within our primary investment strategy primarily from the Barings Global Private Finance and Capital Solutions Team (“Barings GPF”). The holding size of each position will generally be dependent upon a number of factors including total facility size, pricing and structure, and the number of other lenders in the facility. Barings has experience managing levered vehicles, both public and private, and seeks to enhance our returns through the use of leverage with a prudent approach that prioritizes capital preservation. Barings believes this strategy and approach offers attractive risk/return with lower volatility given the potential for fewer defaults and greater resilience through market cycles. A significant portion of our investments are expected to be rated below investment grade by rating agencies or, if unrated would be rated below investment grade if they were rated. Below investment grade securities, which are often referred to as “junk,” have predominantly speculative characteristics with respect to the issuer’s capacity to pay interest and repay principal.

We focus on investing primarily in senior secured private debt instruments in well-established middle-market businesses that operate across a wide range of industries. Barings believes such investments can be considered defensive in the context of a broader portfolio construction. To a lesser extent, we will invest in equity, special situations, structured credit (e.g., private asset-backed securities), syndicated loan opportunities and/or high-yield investments. Syndicated senior secured loans are either (i) marketed by investment banks, which are mandated to bring lenders together and underwrite the deal, to institutional investors or (ii) bought and sold by institutional investors in individually negotiated private transactions that function in many respects like an over-the-counter secondary market. On the other hand, senior secured private debt investments are negotiated directly with the borrower, rather than marketed by a third party or bought and sold in the secondary market. We believe senior secured private debt investments may offer higher returns and certain more favorable protections than syndicated senior secured loans. Fees generated in connection with our debt investments are recognized over the life of the loan using the effective interest method or, in some cases, recognized as earned. We currently intend to invest primarily in senior secured private debt investments that have terms of between five and seven years and bear interest between the Secured Overnight Financing Rate (“SOFR”) (or the applicable currency rate for investments in foreign currencies) plus 450 basis points and SOFR plus 650 basis points per annum.xbrli:sharesiso4217:USDiso4217:USDxbrli:sharesxbrli:pureiso4217:AUDiso4217:CADiso4217:DKKiso4217:EURiso4217:GBPiso4217:NZDiso4217:NOKiso4217:SEKiso4217:CHFbdc:componentbdc:calendar_quarterbdc:investmentbdc:loanbdc:companybdc:segment00018119722026-01-012026-03-3100018119722026-05-070001811972us-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972us-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2026-03-310001811972us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-12-3100018119722026-03-3100018119722025-12-3100018119722025-01-012025-12-310001811972us-gaap:InvestmentUnaffiliatedIssuerMember2026-01-012026-03-310001811972us-gaap:InvestmentUnaffiliatedIssuerMember2025-01-012025-03-310001811972us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2026-01-012026-03-310001811972us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-01-012025-03-3100018119722025-01-012025-03-310001811972us-gaap:CommonStockMember2025-12-310001811972us-gaap:AdditionalPaidInCapitalMember2025-12-310001811972us-gaap:RetainedEarningsMember2025-12-310001811972us-gaap:RetainedEarningsMember2026-01-012026-03-310001811972us-gaap:CommonStockMember2026-01-012026-03-310001811972us-gaap:AdditionalPaidInCapitalMember2026-01-012026-03-310001811972us-gaap:CommonStockMember2026-03-310001811972us-gaap:AdditionalPaidInCapitalMember2026-03-310001811972us-gaap:RetainedEarningsMember2026-03-310001811972us-gaap:CommonStockMember2024-12-310001811972us-gaap:AdditionalPaidInCapitalMember2024-12-310001811972us-gaap:RetainedEarningsMember2024-12-3100018119722024-12-310001811972us-gaap:RetainedEarningsMember2025-01-012025-03-310001811972us-gaap:CommonStockMember2025-01-012025-03-310001811972us-gaap:AdditionalPaidInCapitalMember2025-01-012025-03-310001811972us-gaap:CommonStockMember2025-03-310001811972us-gaap:AdditionalPaidInCapitalMember2025-03-310001811972us-gaap:RetainedEarningsMember2025-03-3100018119722025-03-310001811972Accurus Aerospace Corporation | First Lien Senior Secured Term Loan2026-03-310001811972Accurus Aerospace Corporation | Revolver2026-03-310001811972ATL II MRO Holdings Inc. | First Lien Senior Secured Term Loan2026-03-310001811972ATL II MRO Holdings Inc. | Revolver2026-03-310001811972Compass Precision, LLC | Senior Subordinated Term Loan2026-03-310001811972GB Eagle Buyer, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972GB Eagle Buyer, Inc. | Revolver2026-03-310001811972M-Personal Protection Management GMBH | First Lien Senior Secured Term Loan2026-03-310001811972Megawatt Acquisitionco, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972Megawatt Acquisitionco, Inc. | Revolver2026-03-310001811972Protego Bidco B.V. | Super Senior Secured Term Loan2026-03-310001811972Protego Bidco B.V. | First Lien Senior Secured Term Loan 12026-03-310001811972Protego Bidco B.V. | Revolver2026-03-310001811972SISU ACQUISITIONCO., INC. | First Lien Senior Secured Term Loan2026-03-310001811972Trident Maritime Systems, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972Whitcraft Holdings, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972Whitcraft Holdings, Inc. | Revolver2026-03-310001811972us-gaap:DebtSecuritiesMemberus-gaap:AerospaceSectorMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972Burgess Point Purchaser Corporation | Second Lien Senior Secured Term Loan2026-03-310001811972OAC Holdings I Corp | First Lien Senior Secured Term Loan2026-03-310001811972OAC Holdings I Corp | Revolver2026-03-310001811972Randys Holdings, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972Randys Holdings, Inc. | Revolver2026-03-310001811972Recon Buyer LLC | First Lien Senior Secured Term Loan2026-03-310001811972Recon Buyer LLC | Revolver2026-03-310001811972SPATCO Energy Solutions, LLC | First Lien Senior Secured Term Loan2026-03-310001811972SPATCO Energy Solutions, LLC | Revolver2026-03-310001811972SVI International LLC | First Lien Senior Secured Term Loan2026-03-310001811972SVI International LLC | Revolver2026-03-310001811972us-gaap:DebtSecuritiesMemberus-gaap:AutomotiveSectorMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972Aegros Holdco 2 Ltd | Second Lien Senior Secured Term Loan2026-03-310001811972Bishop Street Underwriters, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Broadstone Group UK LTD | First Lien Senior Secured Term Loan2026-03-310001811972Credit Key Funding II LLC | First Lien Senior Secured Term Loan2026-03-310001811972Credit Key Funding II LLC | Revolver2026-03-310001811972ERS Holdings, LLC | First Lien Senior Secured Term Loan2026-03-310001811972ERS Holdings, LLC | Revolver2026-03-310001811972Finaxy Holding | First Lien Senior Secured Term Loan2026-03-310001811972Forge Borrower, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Forge Borrower, LLC | Revolver2026-03-310001811972Groupe Guemas | First Lien Senior Secured Term Loan2026-03-310001811972High Street Buyer Inc. | First Lien Senior Secured Term Loan2026-03-310001811972IM Square | First Lien Senior Secured Term Loan2026-03-310001811972Markerstudy Group Limited | First Lien Senior Secured Term Loan2026-03-310001811972ORS Buyer, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972OSP AFS Buyer, LLC | First Lien Senior Secured Term Loan2026-03-310001811972OSP AFS Buyer, LLC | Revolver2026-03-310001811972Owl Intermediate Holdings, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Owl Intermediate Holdings, LLC | Revolver2026-03-310001811972Policy Services Company, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Premium Invest | First Lien Senior Secured Term Loan2026-03-310001811972Shelf Bidco Ltd | Second Out Term Loan2026-03-310001811972SRS Acquiom Holdings LLC | First Lien Senior Secured Term Loan2026-03-310001811972SRS Acquiom Holdings LLC | Revolver2026-03-310001811972The Caprock Group, Inc. (aka TA/TCG Holdings, LLC) | First Lien Senior Secured Term Loan2026-03-310001811972The Caprock Group, Inc. (aka TA/TCG Holdings, LLC) | Revolver2026-03-310001811972THG Acquisition, LLC | First Lien Senior Secured Term Loan2026-03-310001811972THG Acquisition, LLC | Revolver2026-03-310001811972WEST-NR ACQUISITIONCO, LLC | First Lien Senior Secured Term Loan2026-03-310001811972us-gaap:DebtSecuritiesMemberbdc:BankingFinanceInsuranceRealEstateMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972CTI Foods Holdings Co., LLC | First Lien Senior Secured Term Loan2026-03-310001811972CTI Foods Holdings Co., LLC | Last In First Out Term Loan2026-03-310001811972CTI Foods Holdings Co., LLC | First Out Term Loan 12026-03-310001811972CTI Foods Holdings Co., LLC | First Out Term Loan 22026-03-310001811972CTI Foods Holdings Co., LLC | Second Out Term Loan2026-03-310001811972GMF Parent, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972GMF Parent, Inc. | Revolver2026-03-310001811972Riedel Beheer B.V. | First Lien Senior Secured Term Loan2026-03-310001811972Woodland Foods, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Woodland Foods, LLC | Revolver2026-03-310001811972us-gaap:DebtSecuritiesMemberbdc:BeverageFoodTobaccoMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972AirX Climate Solutions, Inc. | First Lien Senior Secured Term Loan 12026-03-310001811972AirX Climate Solutions, Inc. | First Lien Senior Secured Term Loan 22026-03-310001811972AirX Climate Solutions, Inc. | Revolver2026-03-310001811972APC1 Holding | First Lien Senior Secured Term Loan2026-03-310001811972BPG Holdings IV Corp | First Lien Senior Secured Term Loan2026-03-310001811972Cobham Slip Rings SAS | First Lien Senior Secured Term Loan2026-03-310001811972DAWGS Intermediate Holdings Co. | First Lien Senior Secured Term Loan2026-03-310001811972DAWGS Intermediate Holdings Co. | Revolver2026-03-310001811972Kanawha Scales & Systems, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Kanawha Scales & Systems, LLC | Revolver2026-03-310001811972Polara Enterprises, L.L.C. | First Lien Senior Secured Term Loan2026-03-310001811972Polara Enterprises, L.L.C. | Revolver2026-03-310001811972Process Insights Acquisition, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972Process Insights Acquisition, Inc. | Revolver2026-03-310001811972Rapid Buyer LLC | First Lien Senior Secured Term Loan2026-03-310001811972Rapid Buyer LLC | Revolver2026-03-310001811972TAPCO Buyer LLC | First Lien Senior Secured Term Loan2026-03-310001811972TAPCO Buyer LLC | Revolver2026-03-310001811972Tencarva Machinery Company, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Tencarva Machinery Company, LLC | Revolver2026-03-310001811972us-gaap:DebtSecuritiesMemberbdc:CapitalEquipmentMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972Americo Chemical Products, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Americo Chemical Products, LLC | Revolver2026-03-310001811972AnalytiChem Holding GmbH | First Lien Senior Secured Term Loan 12026-03-310001811972AnalytiChem Holding GmbH | First Lien Senior Secured Term Loan 22026-03-310001811972AnalytiChem Holding GmbH | First Lien Senior Secured Term Loan 32026-03-310001811972G 3 Chickadee Purchaser, LLC | First Lien Senior Secured Term Loan2026-03-310001811972us-gaap:DebtSecuritiesMemberus-gaap:ChemicalsSectorMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972Apex Service Partners, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Apex Service Partners, LLC | Revolver2026-03-310001811972BKF Buyer, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972BKF Buyer, Inc. | Revolver2026-03-310001811972EMI Porta Holdco LLC | First Lien Senior Secured Term Loan2026-03-310001811972EMI Porta Holdco LLC | Revolver2026-03-310001811972GMES LLC | First Lien Senior Secured Term Loan2026-03-310001811972GMES LLC | Revolver2026-03-310001811972Lockmasters Security Intermediate, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972Lockmasters Security Intermediate, Inc. | Revolver2026-03-310001811972MNS Buyer, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972us-gaap:DebtSecuritiesMemberus-gaap:ConstructionSectorMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972Gojo Industries, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972HTI Technology & Industries | First Lien Senior Secured Term Loan2026-03-310001811972HTI Technology & Industries | Revolver2026-03-310001811972Momentum Textiles, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Momentum Textiles, LLC | Revolver2026-03-310001811972Renovation Parent Holdings, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Team Air Distributing, LLC | Subordinated Term Loan2026-03-310001811972Terrybear, Inc. | Subordinated Term Loan2026-03-310001811972Victoria Bidco Limited | First Lien Senior Secured Term Loan2026-03-310001811972us-gaap:DebtSecuritiesMemberbdc:ConsumerGoodsDurableMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972Bidwax | First Lien Senior Secured Term Loan2026-03-310001811972CCFF Buyer, LLC | First Lien Senior Secured Term Loan2026-03-310001811972CCFF Buyer, LLC | Revolver2026-03-310001811972David Wood Baking UK Ltd | First Lien Senior Secured Term Loan2026-03-310001811972Herbalife Ltd. | First Lien Senior Secured Term Loan2026-03-310001811972Ice House America, L.L.C. | First Lien Senior Secured Term Loan2026-03-310001811972Ice House America, L.L.C. | Revolver2026-03-310001811972Modern Star Holdings Bidco Pty Limited | First Lien Senior Secured Term Loan2026-03-310001811972Safety Products Holdings, LLC | First Lien Senior Secured Term Loan2026-03-310001811972us-gaap:DebtSecuritiesMemberbdc:ConsumerGoodsNonDurableMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972BLI Buyer, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972BLI Buyer, Inc. | Revolver2026-03-310001811972Diversified Packaging Holdings LLC | Second Lien Senior Secured Term Loan2026-03-310001811972Five Star Holding LLC | Second Lien Senior Secured Term Loan2026-03-310001811972Media Recovery, Inc. (SpotSee) | First Lien Senior Secured Term Loan 12026-03-310001811972Media Recovery, Inc. (SpotSee) | First Lien Senior Secured Term Loan 22026-03-310001811972Media Recovery, Inc. (SpotSee) | Revolver 12026-03-310001811972Media Recovery, Inc. (SpotSee) | Revolver 22026-03-310001811972MSI Express Inc. | First Lien Senior Secured Term Loan2026-03-310001811972MSI Express Inc. | Revolver2026-03-310001811972OG III B.V. | First Lien Senior Secured Term Loan2026-03-310001811972Tank Holding Corp | First Lien Senior Secured Term Loan 12026-03-310001811972Tank Holding Corp | First Lien Senior Secured Term Loan 22026-03-310001811972Tank Holding Corp | Revolver2026-03-310001811972us-gaap:DebtSecuritiesMemberus-gaap:ContainerAndPackagingSectorMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972WWEC Holdings III Corp | First Lien Senior Secured Term Loan2026-03-310001811972WWEC Holdings III Corp | Revolver2026-03-310001811972us-gaap:DebtSecuritiesMemberbdc:EnergyElectricityMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972CTS US Bidco, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972Entact Environmental Services, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972Northstar Recycling, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Northstar Recycling, LLC | Revolver2026-03-310001811972us-gaap:DebtSecuritiesMemberbdc:EnvironmentalIndustriesMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972A.T. Holdings II LTD | First Lien Senior Secured Term Loan2026-03-310001811972Amalfi Midco | Second Lien Senior Secured Term Loan2026-03-310001811972Amalfi Midco | Subordinated Loan Notes2026-03-310001811972Astra Bidco Limited | First Lien Senior Secured Term Loan 12026-03-310001811972Astra Bidco Limited | First Lien Senior Secured Term Loan 22026-03-310001811972Avance Clinical Bidco Pty Ltd | First Lien Senior Secured Term Loan2026-03-310001811972Canadian Orthodontic Partners Corp. | Super Senior Secured Term Loan2026-03-310001811972Canadian Orthodontic Partners Corp. | First Lien Senior Secured Term Loan2026-03-310001811972Ceres Pharma NV | First Lien Senior Secured Term Loan 12026-03-310001811972Ceres Pharma NV | First Lien Senior Secured Term Loan 22026-03-310001811972Coherus Biosciences, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972Dane Street, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Dane Street, LLC | Revolver2026-03-310001811972EB Development | First Lien Senior Secured Term Loan2026-03-310001811972Faraday | First Lien Senior Secured Term Loan2026-03-310001811972Finexvet | First Lien Senior Secured Term Loan2026-03-310001811972Forest Buyer, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Forest Buyer, LLC | Revolver2026-03-310001811972GCDL LLC | First Lien Senior Secured Term Loan2026-03-310001811972GCDL LLC | Revolver2026-03-310001811972GenesisCare | First Lien Senior Secured Term Loan2026-03-310001811972GPNZ II GmbH | First Lien Senior Secured Term Loan 12026-03-310001811972GPNZ II GmbH | First Lien Senior Secured Term Loan 22026-03-310001811972Groupe Product Life | First Lien Senior Secured Term Loan2026-03-310001811972HeartHealth Bidco Pty Ltd | First Lien Senior Secured Term Loan2026-03-310001811972Heartland Veterinary Partners, LLC | Subordinated Term Loan2026-03-310001811972HemaSource, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972HemaSource, Inc. | Revolver2026-03-310001811972Home Care Assistance, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Jon Bidco Limited | First Lien Senior Secured Term Loan2026-03-310001811972Keystone Bidco B.V. | First Lien Senior Secured Term Loan2026-03-310001811972Keystone Bidco B.V. | Revolver2026-03-310001811972Lambir Bidco Limited | First Lien Senior Secured Term Loan2026-03-310001811972Lambir Bidco Limited | Second Lien Senior Secured Term Loan2026-03-310001811972Moonlight Bidco Limited | First Lien Senior Secured Term Loan2026-03-310001811972Napa Bidco Pty Ltd | First Lien Senior Secured Term Loan2026-03-310001811972NPM Investments 28 B.V. | First Lien Senior Secured Term Loan2026-03-310001811972Ocular Therapeutix, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972Oracle Vision Bidco Limited | First Lien Senior Secured Term Loan2026-03-310001811972Parkview Dental Holdings LLC | First Lien Senior Secured Term Loan 12026-03-310001811972Parkview Dental Holdings LLC | First Lien Senior Secured Term Loan 22026-03-310001811972Pepper Bidco Pty Ltd | First Lien Senior Secured Term Loan2026-03-310001811972Sanoptis S.A.R.L. | First Lien Senior Secured Term Loan 12026-03-310001811972Sanoptis S.A.R.L. | First Lien Senior Secured Term Loan 22026-03-310001811972SCP CDH Buyer, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972SCP CDH Buyer, Inc. | Revolver2026-03-310001811972SCP Medical Products, LLC. | First Lien Senior Secured Term Loan2026-03-310001811972SCP Medical Products, LLC. | Revolver2026-03-310001811972SSCP Pegasus Midco Limited | First Lien Senior Secured Term Loan2026-03-310001811972SSCP Spring Bidco 3 Limited | First Lien Senior Secured Term Loan2026-03-310001811972Swoop Intermediate III, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972Swoop Intermediate III, Inc. | Revolver2026-03-310001811972TA KHP Aggregator, L.P. | First Lien Senior Secured Term Loan2026-03-310001811972TA KHP Aggregator, L.P. | Revolver2026-03-310001811972TA KHP Aggregator, L.P. | Subordinated Term Loan2026-03-310001811972Union Bidco Limited | First Lien Senior Secured Term Loan2026-03-310001811972Unither (Uniholding) | First Lien Senior Secured Term Loan2026-03-310001811972Unosquare, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Unosquare, LLC | Revolver2026-03-310001811972VB Spine Intermediary II LLC | First Lien Senior Secured Term Loan2026-03-310001811972us-gaap:DebtSecuritiesMemberbdc:HealthcarePharmaceuticalsMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972Anthracite Buyer, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972Anthracite Buyer, Inc. | Revolver2026-03-310001811972Argus Bidco Limited | First Lien Senior Secured Term Loan 12026-03-310001811972Argus Bidco Limited | First Lien Senior Secured Term Loan 22026-03-310001811972Argus Bidco Limited | First Lien Senior Secured Term Loan 32026-03-310001811972Argus Bidco Limited | Second Lien Senior Secured Term Loan2026-03-310001811972Bitly, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972Bitly, Inc. | Revolver2026-03-310001811972CH Buyer, LLC | First Lien Senior Secured Term Loan2026-03-310001811972CH Buyer, LLC | Revolver2026-03-310001811972Contabo Finco S.À R.L | First Lien Senior Secured Term Loan2026-03-310001811972CW Group Holdings, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Discovery Buyer, L.P. | First Lien Senior Secured Term Loan2026-03-310001811972Discovery Buyer, L.P. | Revolver2026-03-310001811972Durare Bidco, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Durare Bidco, LLC | Revolver2026-03-310001811972Dwyer Instruments, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972Eurofins Digital Testing International LUX Holding SARL | First Lien Senior Secured Term Loan2026-03-310001811972Eurofins Digital Testing International LUX Holding SARL | First Lien Senior Secured Term Loan 12026-03-310001811972Eurofins Digital Testing International LUX Holding SARL | First Lien Senior Secured Term Loan 22026-03-310001811972Eurofins Digital Testing International LUX Holding SARL | Second Lien Senior Secured Term Loan2026-03-310001811972Everest Midco Limited | First Lien Senior Secured Term Loan 12026-03-310001811972Everest Midco Limited | First Lien Senior Secured Term Loan 22026-03-310001811972Everest Midco Limited | Revolver2026-03-310001811972EZ SMBO Bidco | First Lien Senior Secured Term Loan 12026-03-310001811972EZ SMBO Bidco | First Lien Senior Secured Term Loan 22026-03-310001811972EZ SMBO Bidco | First Lien Senior Secured Term Loan 32026-03-310001811972EZ SMBO Bidco | Subordinated Term Loan2026-03-310001811972FSS Buyer LLC | First Lien Senior Secured Term Loan2026-03-310001811972Haystack Holdings LLC | First Lien Senior Secured Term Loan2026-03-310001811972Haystack Holdings LLC | Revolver2026-03-310001811972Lighthouse Finco SARL | First Lien Senior Secured Term Loan 12026-03-310001811972Lighthouse Finco SARL | First Lien Senior Secured Term Loan 22026-03-310001811972Maia Bidco Limited | First Lien Senior Secured Term Loan 12026-03-310001811972Maia Bidco Limited | First Lien Senior Secured Term Loan 22026-03-310001811972Maia Bidco Limited | Revolver2026-03-310001811972NAW Buyer LLC | First Lien Senior Secured Term Loan2026-03-310001811972NAW Buyer LLC | Revolver2026-03-310001811972NeoxCo | First Lien Senior Secured Term Loan2026-03-310001811972Next Holdco, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Next Holdco, LLC | Revolver2026-03-310001811972ORTEC INTERNATIONAL NEWCO B.V. | First Lien Senior Secured Term Loan2026-03-310001811972OSP Hamilton Purchaser, LLC | First Lien Senior Secured Term Loan2026-03-310001811972OSP Hamilton Purchaser, LLC | Revolver2026-03-310001811972OSP Lakeside Intermediate Holdings 2, LLC | First Lien Senior Secured Term Loan2026-03-310001811972OSP Lakeside Intermediate Holdings 2, LLC | Revolver2026-03-310001811972PDQ.Com Corporation | First Lien Senior Secured Term Loan2026-03-310001811972PowerGEM Buyer, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972ProfitOptics, LLC | First Lien Senior Secured Term Loan2026-03-310001811972ProfitOptics, LLC | Revolver2026-03-310001811972ProfitOptics, LLC | Senior Subordinated Term Loan2026-03-310001811972Pro-Vision Solutions Holdings, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Pro-Vision Solutions Holdings, LLC | Revolver2026-03-310001811972PSP Intermediate 4, LLC | First Lien Senior Secured Term Loan 12026-03-310001811972PSP Intermediate 4, LLC | First Lien Senior Secured Term Loan 22026-03-310001811972Saab Purchaser, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972Saab Purchaser, Inc. | Revolver2026-03-310001811972Scout Bidco B.V. | First Lien Senior Secured Term Loan 12026-03-310001811972Scout Bidco B.V. | First Lien Senior Secured Term Loan 22026-03-310001811972Scout Bidco B.V. | Revolver2026-03-310001811972Sinari Invest | First Lien Senior Secured Term Loan2026-03-310001811972Sonicwall US Holdings Inc | First Lien Senior Secured Term Loan2026-03-310001811972Syntax Midco 2 Inc. | First Lien Senior Secured Term Loan2026-03-310001811972Syntax Midco 2 Inc. | Revolver2026-03-310001811972White Bidco Limited | First Lien Senior Secured Term Loan2026-03-310001811972Zelda Luxco S.A.S | First Lien Senior Secured Term Loan2026-03-310001811972us-gaap:DebtSecuritiesMemberbdc:HighTechIndustriesMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972Featherstone Bidco Limited | First Lien Senior Secured Term Loan 12026-03-310001811972Featherstone Bidco Limited | First Lien Senior Secured Term Loan 22026-03-310001811972us-gaap:DebtSecuritiesMemberbdc:HotelGamingLeisureMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972ASC Communications, LLC | First Lien Senior Secured Term Loan2026-03-310001811972ASC Communications, LLC | Revolver2026-03-310001811972Superjet Buyer, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Superjet Buyer, LLC | Revolver2026-03-310001811972us-gaap:DebtSecuritiesMemberbdc:MediaAdvertisingPrintingPublishingMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972Music Reports, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972The Octave Music Group, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972us-gaap:DebtSecuritiesMemberbdc:MediaBroadcastingSubscriptionMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972BrightSign LLC | First Lien Senior Secured Term Loan2026-03-310001811972BrightSign LLC | Revolver2026-03-310001811972Footco 40 Limited | First Lien Senior Secured Term Loan 12026-03-310001811972Footco 40 Limited | First Lien Senior Secured Term Loan 22026-03-310001811972Learfield Communications, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Murphy Midco Limited | First Lien Senior Secured Term Loan2026-03-310001811972Rock Labor LLC | First Lien Senior Secured Term Loan2026-03-310001811972Rock Labor LLC | Revolver2026-03-310001811972Screenvision, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Screenvision, LLC | Revolver2026-03-310001811972Screenvision, LLC | Second Lien Senior Secured Term Loan2026-03-310001811972Solo Buyer, L.P. | First Lien Senior Secured Term Loan2026-03-310001811972Solo Buyer, L.P. | Revolver2026-03-310001811972Vital Buyer, LLC | First Lien Senior Secured Term Loan2026-03-310001811972us-gaap:DebtSecuritiesMemberbdc:MediaDiversifiedProductionMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972ABC Legal Holdings, LLC | First Lien Senior Secured Term Loan2026-03-310001811972ABC Legal Holdings, LLC | Revolver2026-03-310001811972Accelevation LLC | First Lien Senior Secured Term Loan2026-03-310001811972Accelevation LLC | Revolver2026-03-310001811972Acclime Holdings HK Limited | First Lien Senior Secured Term Loan2026-03-310001811972Acogroup | First Lien Senior Secured Term Loan2026-03-310001811972Adhefin International | First Lien Senior Secured Term Loan2026-03-310001811972AlliA Insurance Brokers NV | First Lien Senior Secured Term Loan2026-03-310001811972ARC Interco Purchaser, LLC | First Lien Senior Secured Term Loan2026-03-310001811972ARC Interco Purchaser, LLC | Revolver2026-03-310001811972Artemis Bidco Limited | First Lien Senior Secured Term Loan2026-03-310001811972Azalea Buyer, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972Azalea Buyer, Inc. | Subordinated Term Loan2026-03-310001811972Basin Innovation Group, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Basin Innovation Group, LLC | Revolver2026-03-310001811972BNI Global, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Bounteous, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972British Engineering Services Holdco Limited | First Lien Senior Secured Term Loan2026-03-310001811972Broadway Buyer, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Broadway Buyer, LLC | Revolver2026-03-310001811972Caldwell & Gregory LLC | First Lien Senior Secured Term Loan2026-03-310001811972Caldwell & Gregory LLC | Revolver2026-03-310001811972CGI Parent, LLC | First Lien Senior Secured Term Loan2026-03-310001811972CGI Parent, LLC | Revolver2026-03-310001811972CloudOne Digital Corp. | First Lien Senior Secured Term Loan2026-03-310001811972CloudOne Digital Corp. | Revolver2026-03-310001811972Comply365, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Comply365, LLC | Revolver2026-03-310001811972Coyo Uprising GmbH | First Lien Senior Secured Term Loan2026-03-310001811972DISA Holdings Corp. | First Lien Senior Secured Term Loan2026-03-310001811972DISA Holdings Corp. | Revolver2026-03-310001811972Dunlipharder B.V. | First Lien Senior Secured Term Loan2026-03-310001811972EFC International | Senior Unsecured Term Loan2026-03-310001811972Electric Equipment & Engineering Co. | First Lien Senior Secured Term Loan2026-03-310001811972Events Software BidCo Pty Ltd | First Lien Senior Secured Term Loan2026-03-310001811972Expert Institute Group Inc. | First Lien Senior Secured Term Loan2026-03-310001811972Expert Institute Group Inc. | Revolver2026-03-310001811972Greenhill II BV | First Lien Senior Secured Term Loan2026-03-310001811972HEKA Invest | First Lien Senior Secured Term Loan2026-03-310001811972HS Advisory Buyer LLC | First Lien Senior Secured Term Loan2026-03-310001811972HS Advisory Buyer LLC | Revolver2026-03-310001811972HSL Compliance | First Lien Senior Secured Term Loan2026-03-310001811972Hydratech Holdings, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972Hydratech Holdings, Inc. | Revolver2026-03-310001811972Infoniqa Holdings GmbH | First Lien Senior Secured Term Loan2026-03-310001811972Interstellar Group B.V. | First Lien Senior Secured Term Loan2026-03-310001811972Isolstar Holding NV (IPCOM) | First Lien Senior Secured Term Loan2026-03-310001811972LeadsOnline, LLC | First Lien Senior Secured Term Loan2026-03-310001811972LeadsOnline, LLC | Revolver2026-03-310001811972LHS Borrower, LLC | First Lien Senior Secured Term Loan2026-03-310001811972LHS Borrower, LLC | Revolver2026-03-310001811972Long Term Care Group, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972MB Purchaser, LLC | First Lien Senior Secured Term Loan2026-03-310001811972MB Purchaser, LLC | Revolver2026-03-310001811972MC Group Ventures Corporation | First Lien Senior Secured Term Loan2026-03-310001811972MIV Buyer, LLC | First Lien Senior Secured Term Loan2026-03-310001811972MIV Buyer, LLC | Revolver2026-03-310001811972NF Holdco, LLC | First Lien Senior Secured Term Loan2026-03-310001811972NF Holdco, LLC | Revolver2026-03-310001811972Origin Bidco Limited | First Lien Senior Secured Term Loan 12026-03-310001811972Origin Bidco Limited | First Lien Senior Secured Term Loan 22026-03-310001811972Proceed Legal Inc. | First Lien Senior Secured Term Loan2026-03-310001811972Proceed Legal Inc. | Revolver2026-03-310001811972Qima Finance LTD | First Lien Senior Secured Term Loan2026-03-310001811972Real Chemistry Intermediate III, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972Real Chemistry Intermediate III, Inc. | Revolver2026-03-310001811972Recovery Point Systems, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972RKD Group, LLC | First Lien Senior Secured Term Loan2026-03-310001811972RKD Group, LLC | Revolver2026-03-310001811972ROI Solutions LLC | First Lien Senior Secured Term Loan2026-03-310001811972ROI Solutions LLC | Revolver2026-03-310001811972RPX Corporation | First Lien Senior Secured Term Loan2026-03-310001811972RPX Corporation | Revolver2026-03-310001811972Ruby Bidco Pty Ltd | First Lien Senior Secured Term Loan2026-03-310001811972Sansidor BV | First Lien Senior Secured Term Loan2026-03-310001811972Sapphire Bidco S.A.R.L. | First Lien Senior Secured Term Loan2026-03-310001811972SBP Holdings LP | First Lien Senior Secured Term Loan2026-03-310001811972SBP Holdings LP | Revolver2026-03-310001811972Scaled Agile, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972Scaled Agile, Inc. | Revolver2026-03-310001811972SmartShift Group, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972SmartShift Group, Inc. | Revolver2026-03-310001811972Sparus Holdings, LLC (f/k/a Sparus Holdings, Inc.) | First Lien Senior Secured Term Loan2026-03-310001811972Sparus Holdings, LLC (f/k/a Sparus Holdings, Inc.) | Revolver2026-03-310001811972Starnmeer B.V. | First Lien Senior Secured Term Loan2026-03-310001811972Sunrise Acquisition Bidco Limited | First Lien Senior Secured Term Loan2026-03-310001811972TA SL Cayman Aggregator Corp. | Subordinated Term Loan2026-03-310001811972Tanqueray Bidco Limited | First Lien Senior Secured Term Loan2026-03-310001811972Technology Service Stream BidCo Pty Ltd | First Lien Senior Secured Term Loan2026-03-310001811972TSYL Corporate Buyer, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972TSYL Corporate Buyer, Inc. | Revolver2026-03-310001811972Turnberry Solutions, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972UBC Ledgers Holding AB | First Lien Senior Secured Term Loan 12026-03-310001811972UBC Ledgers Holding AB | First Lien Senior Secured Term Loan 22026-03-310001811972UHY Advisors, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972UHY Advisors, Inc. | Revolver2026-03-310001811972Utac Ceram | First Lien Senior Secured Term Loan 12026-03-310001811972Utac Ceram | First Lien Senior Secured Term Loan 22026-03-310001811972World 50, Inc. | First Lien Senior Secured Term Loan2026-03-310001811972World 50, Inc. | Revolver2026-03-310001811972Xeinadin Bidco Limited | First Lien Senior Secured Term Loan 12026-03-310001811972Xeinadin Bidco Limited | First Lien Senior Secured Term Loan 22026-03-310001811972Xeinadin Bidco Limited | Subordinated Term Loan2026-03-310001811972Zeppelin Bidco Limited | First Lien Senior Secured Term Loan2026-03-310001811972us-gaap:DebtSecuritiesMemberbdc:ServicesBusinessMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972Application Boot Camp LLC | First Lien Senior Secured Term Loan2026-03-310001811972Application Boot Camp LLC | Revolver2026-03-310001811972Application Boot Camp LLC | Subordinated Term Loan2026-03-310001811972Arc Education | First Lien Senior Secured Term Loan2026-03-310001811972Archimede | First Lien Senior Secured Term Loan2026-03-310001811972Bariacum S.A | First Lien Senior Secured Term Loan 12026-03-310001811972Bariacum S.A | First Lien Senior Secured Term Loan 22026-03-310001811972Bariacum S.A | First Lien Senior Secured Term Loan 32026-03-310001811972Cascade Residential Services LLC | First Lien Senior Secured Term Loan2026-03-310001811972Cascade Residential Services LLC | Revolver2026-03-310001811972CEC Entertainment, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Express Wash Acquisition Company, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Express Wash Acquisition Company, LLC | Revolver2026-03-310001811972FL Hawk Intermediate Holdings, Inc. (f/k/a Fineline Technologies, Inc.) | First Lien Senior Secured Term Loan2026-03-310001811972Global Academic Group Limited | First Lien Senior Secured Term Loan 12026-03-310001811972Global Academic Group Limited | First Lien Senior Secured Term Loan 22026-03-310001811972HomeX Services Group LLC | First Lien Senior Secured Term Loan2026-03-310001811972HomeX Services Group LLC | Revolver2026-03-310001811972InvoCare Limited | First Lien Senior Secured Term Loan2026-03-310001811972Kid Distro Holdings, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Marmoutier Holding B.V. | Super Senior Secured Term Loan2026-03-310001811972Marmoutier Holding B.V. | First Lien Senior Secured Term Loan2026-03-310001811972Marmoutier Holding B.V. | Revolver2026-03-310001811972Panther Bidco Pty Ltd | First Lien Senior Secured Term Loan2026-03-310001811972Premium Franchise Brands, LLC | First Lien Senior Secured Term Loan2026-03-310001811972QPE7 SPV1 BidCo Pty Ltd | First Lien Senior Secured Term Loan2026-03-310001811972Selenium Designated Activity Company | First Lien Senior Secured Term Loan2026-03-310001811972us-gaap:DebtSecuritiesMemberbdc:ServicesConsumerMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972JetBlue 2019-1 Class B Pass Through Trust | Structured Secured Note - Class B2026-03-310001811972Perimeter Master Note Business Trust | Structured Secured Note - Class A2026-03-310001811972Perimeter Master Note Business Trust | Structured Secured Note - Class B2026-03-310001811972Perimeter Master Note Business Trust | Structured Secured Note - Class C2026-03-310001811972Perimeter Master Note Business Trust | Structured Secured Note - Class D2026-03-310001811972Perimeter Master Note Business Trust | Structured Secured Note - Class E2026-03-310001811972Vista Global Holding Ltd | Structured Secured Note - Class C2026-03-310001811972Willis Engine Structured Trust VI | Structured Secured Note - Series 2021-1 Class C2026-03-310001811972us-gaap:DebtSecuritiesMemberbdc:StructuredProductsMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972Mercell Holding AS | First Lien Senior Secured Term Loan2026-03-310001811972Permaconn BidCo Pty Ltd | First Lien Senior Secured Term Loan2026-03-310001811972UKFast Leaders Limited | First Lien Senior Secured Term Loan2026-03-310001811972us-gaap:DebtSecuritiesMemberbdc:TelecommunicationsMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972Argus Intermediate, LLC | First Lien Senior Secured Term Loan2026-03-310001811972Argus Intermediate, LLC | Revolver2026-03-310001811972FitzMark Buyer, LLC | First Lien Senior Secured Term Loan2026-03-310001811972FragilePak LLC | First Lien Senior Secured Term Loan2026-03-310001811972Honour Lane Logistics Holdings Limited | First Lien Senior Secured Term Loan2026-03-310001811972ITI Intermodal, Inc. | First Lien Senior Secured Term Loan 12026-03-310001811972ITI Intermodal, Inc. | First Lien Senior Secured Term Loan 22026-03-310001811972ITI Intermodal, Inc. | Revolver2026-03-310001811972PAS Chassis Holdco LLC | Second Lien Senior Secured Term Loan2026-03-310001811972R1 Holdings, LLC | First Lien Senior Secured Term Loan2026-03-310001811972R1 Holdings, LLC | Revolver2026-03-310001811972REP SEKO MERGER SUB LLC | First Lien Senior Secured Term Loan 12026-03-310001811972REP SEKO MERGER SUB LLC | First Lien Senior Secured Term Loan 22026-03-310001811972REP SEKO MERGER SUB LLC | First Out Term Loan2026-03-310001811972us-gaap:DebtSecuritiesMemberbdc:TransportationCargoMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972Breeze Aviation Group Inc | Second Lien Senior Secured Term Loan 12026-03-310001811972Breeze Aviation Group Inc | Second Lien Senior Secured Term Loan 22026-03-310001811972Breeze Aviation Group Inc | Second Lien Senior Secured Term Loan 32026-03-310001811972Breeze Aviation Group Inc | Second Lien Senior Secured Term Loan 42026-03-310001811972International Fleet Financing No.2 B.V. | Revolver2026-03-310001811972us-gaap:DebtSecuritiesMemberbdc:TransportationConsumerMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972KAMC Holdings Inc. | First Lien Senior Secured Term Loan2026-03-310001811972KAMC Holdings Inc. | Revolver2026-03-310001811972Panoche Energy Center LLC | First Lien Senior Secured Bond2026-03-310001811972Spatial Business Systems LLC | First Lien Senior Secured Term Loan2026-03-310001811972Spatial Business Systems LLC | Revolver2026-03-310001811972us-gaap:DebtSecuritiesMemberbdc:UtilitiesElectricMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972us-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:DebtSecuritiesMember2026-03-310001811972Accurus Aerospace Corporation | Common Stock2026-03-310001811972Accurus Aerospace Corporation | LLC Units2026-03-310001811972Compass Precision, LLC | LLC Units2026-03-310001811972GB Eagle Buyer, Inc. | Partnership Units2026-03-310001811972Megawatt Acquisitionco, Inc. 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Holdco, LLC | LLC Units2026-03-310001811972Recovery Point Systems, Inc. | Partnership Equity2026-03-310001811972SmartShift Group, Inc. | Common Stock2026-03-310001811972TA SL Cayman Aggregator Corp. | Common Stock2026-03-310001811972TSYL Corporate Buyer, Inc. | Partnership Units2026-03-310001811972Xeinadin Bidco Limited | Common Stock2026-03-310001811972Zeppelin Bidco Limited | Ordinary Shares2026-03-310001811972us-gaap:EquitySecuritiesMemberbdc:ServicesBusinessMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972Application Boot Camp LLC | Common Stock2026-03-310001811972Kid Distro Holdings, LLC | LLC Units2026-03-310001811972Marmoutier Holding B.V. | Common Stock2026-03-310001811972us-gaap:EquitySecuritiesMemberbdc:ServicesConsumerMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001811972Mercell Holding AS | Class A Units2026-03-310001811972Mercell Holding AS | Class B Units2026-03-310001811972Syniverse Holdings, Inc. | Series A Preferred 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Loan2026-03-310001811972us-gaap:DebtSecuritiesMemberus-gaap:AerospaceSectorMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2026-03-310001811972Eclipse Business Capital, LLC | Revolver2026-03-310001811972Eclipse Business Capital, LLC | Second Lien Senior Secured Term Loan2026-03-310001811972Rocade Holdings LLC | Second Lien Senior Secured Term Loan2026-03-310001811972us-gaap:DebtSecuritiesMemberbdc:BankingFinanceInsuranceRealEstateMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2026-03-310001811972Celebration Bidco, LLC | First Lien Senior Secured Term Loan2026-03-310001811972us-gaap:DebtSecuritiesMemberus-gaap:ChemicalsSectorMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2026-03-310001811972Biolam Group | First Lien Senior Secured Term Loan2026-03-310001811972us-gaap:DebtSecuritiesMemberbdc:HealthcarePharmaceuticalsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2026-03-310001811972Coastal Marina Holdings, LLC | Subordinated Term Loan 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Loan2025-12-310001811972Celebration Bidco, LLC | First Lien Senior Secured Term Loan2026-01-012026-03-310001811972Celebration Bidco, LLC | Common Stock2025-12-310001811972Celebration Bidco, LLC | Common Stock2026-01-012026-03-310001811972bdc:CelebrationBidcoLLCMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-12-310001811972bdc:CelebrationBidcoLLCMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2026-01-012026-03-310001811972bdc:CelebrationBidcoLLCMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2026-03-310001811972Coastal Marina Holdings, LLC | Subordinated Term Loan 12025-12-310001811972Coastal Marina Holdings, LLC | Subordinated Term Loan 12026-01-012026-03-310001811972Coastal Marina Holdings, LLC | Subordinated Term Loan 22025-12-310001811972Coastal Marina Holdings, LLC | Subordinated Term Loan 22026-01-012026-03-310001811972Coastal Marina Holdings, LLC | LLC Units2025-12-310001811972Coastal Marina Holdings, LLC | LLC 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MRO Holdings Inc. | First Lien Senior Secured Term Loan2025-12-310001811972ATL II MRO Holdings Inc. | Revolver2025-12-310001811972Compass Precision, LLC | Senior Subordinated Term Loan2025-12-310001811972GB Eagle Buyer, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972GB Eagle Buyer, Inc. | Revolver2025-12-310001811972M-Personal Protection Management GMBH | First Lien Senior Secured Term Loan2025-12-310001811972Megawatt Acquisitionco, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972Megawatt Acquisitionco, Inc. | Revolver2025-12-310001811972Protego Bidco B.V. | First Lien Senior Secured Term Loan 12025-12-310001811972Protego Bidco B.V. | First Lien Senior Secured Term Loan 22025-12-310001811972Protego Bidco B.V. | Revolver2025-12-310001811972SISU ACQUISITIONCO., INC. | First Lien Senior Secured Term Loan2025-12-310001811972Trident Maritime Systems, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972Whitcraft Holdings, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972Whitcraft Holdings, Inc. | Revolver2025-12-310001811972us-gaap:DebtSecuritiesMemberus-gaap:AerospaceSectorMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972Burgess Point Purchaser Corporation | Second Lien Senior Secured Term Loan2025-12-310001811972OAC Holdings I Corp | First Lien Senior Secured Term Loan2025-12-310001811972OAC Holdings I Corp | Revolver2025-12-310001811972Randys Holdings, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972Randys Holdings, Inc. | Revolver2025-12-310001811972Recon Buyer LLC | First Lien Senior Secured Term Loan2025-12-310001811972Recon Buyer LLC | Revolver2025-12-310001811972SPATCO Energy Solutions, LLC | First Lien Senior Secured Term Loan2025-12-310001811972SPATCO Energy Solutions, LLC | Revolver2025-12-310001811972SVI International LLC | First Lien Senior Secured Term Loan2025-12-310001811972SVI International LLC | Revolver2025-12-310001811972us-gaap:DebtSecuritiesMemberus-gaap:AutomotiveSectorMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972Aegros Holdco 2 Ltd | Second Lien Senior Secured Term Loan2025-12-310001811972Apus Bidco Limited | First Lien Senior Secured Term Loan2025-12-310001811972Beyond Risk Management, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972Bishop Street Underwriters, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Broadstone Group UK LTD | First Lien Senior Secured Term Loan2025-12-310001811972Credit Key Funding II LLC | First Lien Senior Secured Term Loan2025-12-310001811972Credit Key Funding II LLC | Revolver2025-12-310001811972Finaxy Holding | First Lien Senior Secured Term Loan2025-12-310001811972Groupe Guemas | First Lien Senior Secured Term Loan2025-12-310001811972High Street Buyer Inc. | First Lien Senior Secured Term Loan2025-12-310001811972IM Square | First Lien Senior Secured Term Loan2025-12-310001811972ORS Buyer, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972OSP AFS Buyer, LLC | First Lien Senior Secured Term Loan2025-12-310001811972OSP AFS Buyer, LLC | Revolver2025-12-310001811972Owl Intermediate Holdings, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Owl Intermediate Holdings, LLC | Revolver2025-12-310001811972Policy Services Company, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Premium Invest | First Lien Senior Secured Term Loan2025-12-310001811972Shelf Bidco Ltd | Second Out Term Loan2025-12-310001811972The Caprock Group, Inc. (aka TA/TCG Holdings, LLC) | First Lien Senior Secured Term Loan2025-12-310001811972The Caprock Group, Inc. (aka TA/TCG Holdings, LLC) | Revolver2025-12-310001811972THG Acquisition, LLC | First Lien Senior Secured Term Loan2025-12-310001811972THG Acquisition, LLC | Revolver2025-12-310001811972Turbo Buyer, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972WEST-NR ACQUISITIONCO, LLC | First Lien Senior Secured Term Loan2025-12-310001811972us-gaap:DebtSecuritiesMemberbdc:BankingFinanceInsuranceRealEstateMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972CTI Foods Holdings Co., LLC | First Lien Senior Secured Term Loan2025-12-310001811972CTI Foods Holdings Co., LLC | Last In First Out Term Loan2025-12-310001811972CTI Foods Holdings Co., LLC | First Out Term Loan 12025-12-310001811972CTI Foods Holdings Co., LLC | First Out Term Loan 22025-12-310001811972CTI Foods Holdings Co., LLC | Second Out Term Loan2025-12-310001811972GMF Parent, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972GMF Parent, Inc. | Revolver2025-12-310001811972Innovad Group II BV | First Lien Senior Secured Term Loan 12025-12-310001811972Innovad Group II BV | First Lien Senior Secured Term Loan 22025-12-310001811972Riedel Beheer B.V. | First Lien Senior Secured Term Loan2025-12-310001811972Woodland Foods, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Woodland Foods, LLC | Revolver2025-12-310001811972us-gaap:DebtSecuritiesMemberbdc:BeverageFoodTobaccoMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972AirX Climate Solutions, Inc. | First Lien Senior Secured Term Loan 12025-12-310001811972AirX Climate Solutions, Inc. | First Lien Senior Secured Term Loan 22025-12-310001811972AirX Climate Solutions, Inc. | Revolver2025-12-310001811972APC1 Holding | First Lien Senior Secured Term Loan2025-12-310001811972BPG Holdings IV Corp | First Lien Senior Secured Term Loan2025-12-310001811972Cobham Slip Rings SAS | First Lien Senior Secured Term Loan2025-12-310001811972DAWGS Intermediate Holdings Co. | First Lien Senior Secured Term Loan2025-12-310001811972DAWGS Intermediate Holdings Co. | Revolver2025-12-310001811972Kanawha Scales & Systems, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Kanawha Scales & Systems, LLC | Revolver2025-12-310001811972Polara Enterprises, L.L.C. | First Lien Senior Secured Term Loan2025-12-310001811972Polara Enterprises, L.L.C. | Revolver2025-12-310001811972Process Insights Acquisition, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972Process Insights Acquisition, Inc. | Revolver2025-12-310001811972Rapid Buyer LLC | First Lien Senior Secured Term Loan2025-12-310001811972Rapid Buyer LLC | Revolver2025-12-310001811972TAPCO Buyer LLC | First Lien Senior Secured Term Loan2025-12-310001811972TAPCO Buyer LLC | Revolver2025-12-310001811972Tencarva Machinery Company, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Tencarva Machinery Company, LLC | Revolver2025-12-310001811972us-gaap:DebtSecuritiesMemberbdc:CapitalEquipmentMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972Americo Chemical Products, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Americo Chemical Products, LLC | Revolver2025-12-310001811972AnalytiChem Holding GmbH | First Lien Senior Secured Term Loan 12025-12-310001811972AnalytiChem Holding GmbH | First Lien Senior Secured Term Loan 22025-12-310001811972AnalytiChem Holding GmbH | First Lien Senior Secured Term Loan 32025-12-310001811972G 3 Chickadee Purchaser, LLC | First Lien Senior Secured Term Loan2025-12-310001811972us-gaap:DebtSecuritiesMemberus-gaap:ChemicalsSectorMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972Apex Service Partners, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Apex Service Partners, LLC | Revolver2025-12-310001811972BKF Buyer, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972BKF Buyer, Inc. | Revolver2025-12-310001811972EMI Porta Holdco LLC | First Lien Senior Secured Term Loan2025-12-310001811972EMI Porta Holdco LLC | Revolver2025-12-310001811972GMES LLC | First Lien Senior Secured Term Loan2025-12-310001811972GMES LLC | Revolver2025-12-310001811972Lockmasters Security Intermediate, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972Lockmasters Security Intermediate, Inc. | Revolver2025-12-310001811972MNS Buyer, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972Ocelot Holdco LLC | Takeback Term Loan2025-12-310001811972us-gaap:DebtSecuritiesMemberus-gaap:ConstructionSectorMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972DecksDirect, LLC | First Lien Senior Secured Term Loan2025-12-310001811972DecksDirect, LLC | Revolver2025-12-310001811972Gojo Industries, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972HTI Technology & Industries | First Lien Senior Secured Term Loan2025-12-310001811972HTI Technology & Industries | Revolver2025-12-310001811972Momentum Textiles, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Momentum Textiles, LLC | Revolver2025-12-310001811972Renovation Parent Holdings, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Team Air Distributing, LLC | Subordinated Term Loan2025-12-310001811972Terrybear, Inc. | Subordinated Term Loan2025-12-310001811972Victoria Bidco Limited | First Lien Senior Secured Term Loan2025-12-310001811972us-gaap:DebtSecuritiesMemberbdc:ConsumerGoodsDurableMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972Bidwax | First Lien Senior Secured Term Loan2025-12-310001811972CCFF Buyer, LLC | First Lien Senior Secured Term Loan2025-12-310001811972CCFF Buyer, LLC | Revolver2025-12-310001811972David Wood Baking UK Ltd | First Lien Senior Secured Term Loan2025-12-310001811972Herbalife Ltd. | First Lien Senior Secured Term Loan2025-12-310001811972Ice House America, L.L.C. | First Lien Senior Secured Term Loan2025-12-310001811972Ice House America, L.L.C. | Revolver2025-12-310001811972Modern Star Holdings Bidco Pty Limited | First Lien Senior Secured Term Loan2025-12-310001811972Safety Products Holdings, LLC, First Lien Senior Secured Term Loan2025-12-310001811972us-gaap:DebtSecuritiesMemberbdc:ConsumerGoodsNonDurableMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972BLI Buyer, Inc., First Lien Senior Secured Term Loan2025-12-310001811972BLI Buyer, Inc., Revolver2025-12-310001811972Diversified Packaging Holdings LLC, Second Lien Senior Secured Term Loan2025-12-310001811972Five Star Holding LLC, Second Lien Senior Secured Term Loan2025-12-310001811972Media Recovery, Inc. (SpotSee), First Lien Senior Secured Term Loan 12025-12-310001811972Media Recovery, Inc. (SpotSee), First Lien Senior Secured Term Loan 22025-12-310001811972Media Recovery, Inc. (SpotSee), Revolver 12025-12-310001811972Media Recovery, Inc. (SpotSee), Revolver 22025-12-310001811972MSI Express Inc., First Lien Senior Secured Term Loan2025-12-310001811972MSI Express Inc., Revolver2025-12-310001811972OG III B.V., First Lien Senior Secured Term Loan2025-12-310001811972Tank Holding Corp, First Lien Senior Secured Term Loan 12025-12-310001811972Tank Holding Corp, First Lien Senior Secured Term Loan 22025-12-310001811972Tank Holding Corp, Revolver2025-12-310001811972us-gaap:DebtSecuritiesMemberus-gaap:ContainerAndPackagingSectorMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972WWEC Holdings III Corp, First Lien Senior Secured Term Loan2025-12-310001811972WWEC Holdings III Corp, Revolver2025-12-310001811972us-gaap:DebtSecuritiesMemberbdc:EnergyElectricityMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972CTS US Bidco, Inc., First Lien Senior Secured Term Loan2025-12-310001811972Entact Environmental Services, Inc., First Lien Senior Secured Term Loan2025-12-310001811972Northstar Recycling, LLC, First Lien Senior Secured Term Loan2025-12-310001811972Northstar Recycling, LLC, Revolver2025-12-310001811972us-gaap:DebtSecuritiesMemberbdc:EnvironmentalIndustriesMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972A.T. Holdings II LTD, First Lien Senior Secured Term Loan2025-12-310001811972Amalfi Midco, Second Lien Senior Secured Term Loan2025-12-310001811972Amalfi Midco, Subordinated Loan Notes2025-12-310001811972Astra Bidco Limited, First Lien Senior Secured Term Loan 12025-12-310001811972Astra Bidco Limited, First Lien Senior Secured Term Loan 22025-12-310001811972Avance Clinical Bidco Pty Ltd, First Lien Senior Secured Term Loan2025-12-310001811972Canadian Orthodontic Partners Corp., Super Senior Secured Term Loan2025-12-310001811972Canadian Orthodontic Partners Corp., First Lien Senior Secured Term Loan2025-12-310001811972Ceres Pharma NV, First Lien Senior Secured Term Loan 12025-12-310001811972Ceres Pharma NV | First Lien Senior Secured Term Loan2025-12-310001811972Coherus Biosciences, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972EB Development | First Lien Senior Secured Term Loan2025-12-310001811972Faraday | First Lien Senior Secured Term Loan2025-12-310001811972Finexvet | First Lien Senior Secured Term Loan2025-12-310001811972Forest Buyer, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Forest Buyer, LLC | Revolver2025-12-310001811972GCDL LLC | First Lien Senior Secured Term Loan2025-12-310001811972GCDL LLC | Revolver2025-12-310001811972GenesisCare | First Lien Senior Secured Term Loan2025-12-310001811972GPNZ II GmbH | First Lien Senior Secured Term Loan 12025-12-310001811972GPNZ II GmbH | First Lien Senior Secured Term Loan 22025-12-310001811972Groupe Product Life | First Lien Senior Secured Term Loan2025-12-310001811972HeartHealth Bidco Pty Ltd | First Lien Senior Secured Term Loan2025-12-310001811972Heartland Veterinary Partners, LLC | Subordinated Term Loan2025-12-310001811972HemaSource, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972HemaSource, Inc. | Revolver2025-12-310001811972Home Care Assistance, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Jon Bidco Limited | First Lien Senior Secured Term Loan2025-12-310001811972Keystone Bidco B.V. | First Lien Senior Secured Term Loan2025-12-310001811972Keystone Bidco B.V. | Revolver2025-12-310001811972Lambir Bidco Limited | First Lien Senior Secured Term Loan2025-12-310001811972Lambir Bidco Limited | Second Lien Senior Secured Term Loan2025-12-310001811972Median B.V. | First Lien Senior Secured Term Loan2025-12-310001811972Moonlight Bidco Limited | First Lien Senior Secured Term Loan2025-12-310001811972Napa Bidco Pty Ltd | First Lien Senior Secured Term Loan2025-12-310001811972NPM Investments 28 B.V. | First Lien Senior Secured Term Loan2025-12-310001811972Ocular Therapeutix, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972Oracle Vision Bidco Limited | First Lien Senior Secured Term Loan2025-12-310001811972Parkview Dental Holdings LLC | First Lien Senior Secured Term Loan 12025-12-310001811972Parkview Dental Holdings LLC | First Lien Senior Secured Term Loan 22025-12-310001811972Sanoptis S.A.R.L. | First Lien Senior Secured Term Loan 12025-12-310001811972Sanoptis S.A.R.L. | First Lien Senior Secured Term Loan 22025-12-310001811972SCP CDH Buyer, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972SCP CDH Buyer, Inc. | Revolver2025-12-310001811972SCP Medical Products, LLC. | First Lien Senior Secured Term Loan2025-12-310001811972SCP Medical Products, LLC. | Revolver2025-12-310001811972SSCP Pegasus Midco Limited | First Lien Senior Secured Term Loan2025-12-310001811972SSCP Spring Bidco 3 Limited | First Lien Senior Secured Term Loan2025-12-310001811972Swoop Intermediate III, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972Swoop Intermediate III, Inc. | Revolver2025-12-310001811972TA KHP Aggregator, L.P. | First Lien Senior Secured Term Loan2025-12-310001811972TA KHP Aggregator, L.P. | Revolver2025-12-310001811972TA KHP Aggregator, L.P. | Subordinated Term Loan2025-12-310001811972Union Bidco Limited | First Lien Senior Secured Term Loan2025-12-310001811972Unither (Uniholding) | First Lien Senior Secured Term Loan2025-12-310001811972Unosquare, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Unosquare, LLC | Revolver2025-12-310001811972VB Spine Intermediary II LLC | First Lien Senior Secured Term Loan2025-12-310001811972us-gaap:DebtSecuritiesMemberbdc:HealthcarePharmaceuticalsMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972Anthracite Buyer, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972Anthracite Buyer, Inc. | Revolver2025-12-310001811972Argus Bidco Limited | First Lien Senior Secured Term Loan 12025-12-310001811972Argus Bidco Limited | First Lien Senior Secured Term Loan 22025-12-310001811972Argus Bidco Limited | First Lien Senior Secured Term Loan 32025-12-310001811972Argus Bidco Limited | Second Lien Senior Secured Term Loan2025-12-310001811972Bitly, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972Bitly, Inc. | Revolver2025-12-310001811972CH Buyer, LLC | First Lien Senior Secured Term Loan2025-12-310001811972CH Buyer, LLC | Revolver2025-12-310001811972Contabo Finco S.À R.L | First Lien Senior Secured Term Loan2025-12-310001811972CW Group Holdings, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Discovery Buyer, L.P. | First Lien Senior Secured Term Loan2025-12-310001811972Discovery Buyer, L.P. | Revolver2025-12-310001811972Durare Bidco, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Durare Bidco, LLC | Revolver2025-12-310001811972Dwyer Instruments, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972Eurofins Digital Testing International LUX Holding SARL | First Lien Senior Secured Term Loan 12025-12-310001811972Eurofins Digital Testing International LUX Holding SARL | First Lien Senior Secured Term Loan 22025-12-310001811972Eurofins Digital Testing International LUX Holding SARL | First Lien Senior Secured Term Loan 32025-12-310001811972Eurofins Digital Testing International LUX Holding SARL | Second Lien Senior Secured Term Loan2025-12-310001811972EZ SMBO Bidco | First Lien Senior Secured Term Loan 12025-12-310001811972EZ SMBO Bidco | First Lien Senior Secured Term Loan 22025-12-310001811972EZ SMBO Bidco | First Lien Senior Secured Term Loan 32025-12-310001811972FSS Buyer LLC | First Lien Senior Secured Term Loan2025-12-310001811972Haystack Holdings LLC | First Lien Senior Secured Term Loan2025-12-310001811972Haystack Holdings LLC | Revolver2025-12-310001811972Maia Bidco Limited | First Lien Senior Secured Term Loan 12025-12-310001811972Maia Bidco Limited | First Lien Senior Secured Term Loan 22025-12-310001811972Maia Bidco Limited | Revolver2025-12-310001811972NAW Buyer LLC | First Lien Senior Secured Term Loan2025-12-310001811972NAW Buyer LLC | Revolver2025-12-310001811972NeoxCo | First Lien Senior Secured Term Loan2025-12-310001811972Next Holdco, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Next Holdco, LLC | Revolver2025-12-310001811972ORTEC INTERNATIONAL NEWCO B.V. | First Lien Senior Secured Term Loan2025-12-310001811972OSP Hamilton Purchaser, LLC | First Lien Senior Secured Term Loan2025-12-310001811972OSP Hamilton Purchaser, LLC | Revolver2025-12-310001811972OSP Lakeside Intermediate Holdings 2, LLC | First Lien Senior Secured Term Loan2025-12-310001811972OSP Lakeside Intermediate Holdings 2, LLC | Revolver2025-12-310001811972PDQ.Com Corporation | First Lien Senior Secured Term Loan2025-12-310001811972PowerGEM Buyer, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972ProfitOptics, LLC | First Lien Senior Secured Term Loan2025-12-310001811972ProfitOptics, LLC | Revolver2025-12-310001811972ProfitOptics, LLC | Senior Subordinated Term Loan2025-12-310001811972Pro-Vision Solutions Holdings, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Pro-Vision Solutions Holdings, LLC | Revolver2025-12-310001811972PSP Intermediate 4, LLC | First Lien Senior Secured Term Loan2025-12-310001811972PSP Intermediate 4, LLC | First Lien Senior Secured Term Loan 22025-12-310001811972Saab Purchaser, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972Saab Purchaser, Inc. | Revolver2025-12-310001811972Scout Bidco B.V. | First Lien Senior Secured Term Loan 12025-12-310001811972Scout Bidco B.V. | First Lien Senior Secured Term Loan 22025-12-310001811972Scout Bidco B.V. | Revolver2025-12-310001811972Sinari Invest | First Lien Senior Secured Term Loan2025-12-310001811972Sonicwall US Holdings Inc | First Lien Senior Secured Term Loan2025-12-310001811972Syntax Midco 2 Inc. | First Lien Senior Secured Term Loan2025-12-310001811972Syntax Midco 2 Inc. | Revolver2025-12-310001811972White Bidco Limited | First Lien Senior Secured Term Loan2025-12-310001811972Zelda Luxco S.A.S | First Lien Senior Secured Term Loan2025-12-310001811972us-gaap:DebtSecuritiesMemberbdc:HighTechIndustriesMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972Featherstone Bidco Limited | First Lien Senior Secured Term Loan 12025-12-310001811972Featherstone Bidco Limited | First Lien Senior Secured Term Loan 22025-12-310001811972us-gaap:DebtSecuritiesMemberbdc:HotelGamingLeisureMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972ASC Communications, LLC | First Lien Senior Secured Term Loan2025-12-310001811972ASC Communications, LLC | Revolver2025-12-310001811972Superjet Buyer, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Superjet Buyer, LLC | Revolver2025-12-310001811972us-gaap:DebtSecuritiesMemberbdc:MediaAdvertisingPrintingPublishingMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972Music Reports, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972The Octave Music Group, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972us-gaap:DebtSecuritiesMemberbdc:MediaBroadcastingSubscriptionMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972BrightSign LLC | First Lien Senior Secured Term Loan2025-12-310001811972BrightSign LLC | Revolver2025-12-310001811972Footco 40 Limited | First Lien Senior Secured Term Loan 12025-12-310001811972Footco 40 Limited | First Lien Senior Secured Term Loan 22025-12-310001811972Learfield Communications, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Murphy Midco Limited | First Lien Senior Secured Term Loan2025-12-310001811972Rock Labor LLC | First Lien Senior Secured Term Loan2025-12-310001811972Rock Labor LLC | Revolver2025-12-310001811972Screenvision, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Screenvision, LLC | Revolver2025-12-310001811972Screenvision, LLC | Second Lien Senior Secured Term Loan2025-12-310001811972Solo Buyer, L.P. | First Lien Senior Secured Term Loan2025-12-310001811972Solo Buyer, L.P. | Revolver2025-12-310001811972Vital Buyer, LLC | First Lien Senior Secured Term Loan2025-12-310001811972us-gaap:DebtSecuritiesMemberbdc:MediaDiversifiedProductionMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972ABC Legal Holdings, LLC | First Lien Senior Secured Term Loan2025-12-310001811972ABC Legal Holdings, LLC | Revolver2025-12-310001811972Accelevation LLC | First Lien Senior Secured Term Loan2025-12-310001811972Accelevation LLC | Revolver2025-12-310001811972Acclime Holdings HK Limited | First Lien Senior Secured Term Loan2025-12-310001811972Acogroup | First Lien Senior Secured Term Loan2025-12-310001811972AD Bidco, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972AD Bidco, Inc. | Revolver2025-12-310001811972Adhefin International | First Lien Senior Secured Term Loan2025-12-310001811972AlliA Insurance Brokers NV | First Lien Senior Secured Term Loan2025-12-310001811972ARC Interco Purchaser, LLC | First Lien Senior Secured Term Loan2025-12-310001811972ARC Interco Purchaser, LLC | Revolver2025-12-310001811972Artemis Bidco Limited | First Lien Senior Secured Term Loan2025-12-310001811972Azalea Buyer, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972Azalea Buyer, Inc. | Revolver2025-12-310001811972Azalea Buyer, Inc. | Subordinated Term Loan2025-12-310001811972Basin Innovation Group, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Basin Innovation Group, LLC | Revolver2025-12-310001811972BNI Global, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Bounteous, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972British Engineering Services Holdco Limited | First Lien Senior Secured Term Loan2025-12-310001811972Broadway Buyer, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Broadway Buyer, LLC | Revolver2025-12-310001811972Caldwell & Gregory LLC | First Lien Senior Secured Term Loan2025-12-310001811972Caldwell & Gregory LLC | Revolver2025-12-310001811972CGI Parent, LLC | First Lien Senior Secured Term Loan2025-12-310001811972CGI Parent, LLC | Revolver2025-12-310001811972CloudOne Digital Corp. | First Lien Senior Secured Term Loan2025-12-310001811972CloudOne Digital Corp. | Revolver2025-12-310001811972Comply365, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Comply365, LLC | Revolver2025-12-310001811972Coyo Uprising GmbH | First Lien Senior Secured Term Loan2025-12-310001811972DISA Holdings Corp. | First Lien Senior Secured Term Loan2025-12-310001811972DISA Holdings Corp. | Revolver2025-12-310001811972Dunlipharder B.V. | First Lien Senior Secured Term Loan2025-12-310001811972EFC International | Senior Unsecured Term Loan2025-12-310001811972Electric Equipment & Engineering Co. | First Lien Senior Secured Term Loan2025-12-310001811972Events Software BidCo Pty Ltd | First Lien Senior Secured Term Loan2025-12-310001811972Expert Institute Group Inc. | First Lien Senior Secured Term Loan2025-12-310001811972Expert Institute Group Inc. | Revolver2025-12-310001811972Greenhill II BV | First Lien Senior Secured Term Loan2025-12-310001811972HEKA Invest | First Lien Senior Secured Term Loan2025-12-310001811972HS Advisory Buyer LLC | First Lien Senior Secured Term Loan2025-12-310001811972HS Advisory Buyer LLC | Revolver2025-12-310001811972HSL Compliance | First Lien Senior Secured Term Loan2025-12-310001811972Hydratech Holdings, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972Hydratech Holdings, Inc. | Revolver2025-12-310001811972Infoniqa Holdings GmbH | First Lien Senior Secured Term Loan2025-12-310001811972Interstellar Group B.V. | First Lien Senior Secured Term Loan2025-12-310001811972Isolstar Holding NV (IPCOM) | First Lien Senior Secured Term Loan2025-12-310001811972LeadsOnline, LLC | First Lien Senior Secured Term Loan2025-12-310001811972LeadsOnline, LLC | Revolver2025-12-310001811972LHS Borrower, LLC | First Lien Senior Secured Term Loan2025-12-310001811972LHS Borrower, LLC | Revolver2025-12-310001811972Long Term Care Group, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972MB Purchaser, LLC | First Lien Senior Secured Term Loan2025-12-310001811972MB Purchaser, LLC | Revolver2025-12-310001811972MC Group Ventures Corporation | First Lien Senior Secured Term Loan2025-12-310001811972MIV Buyer, LLC | First Lien Senior Secured Term Loan2025-12-310001811972MIV Buyer, LLC | Revolver2025-12-310001811972NF Holdco, LLC | First Lien Senior Secured Term Loan2025-12-310001811972NF Holdco, LLC | Revolver2025-12-310001811972Origin Bidco Limited | First Lien Senior Secured Term Loan 12025-12-310001811972Origin Bidco Limited | First Lien Senior Secured Term Loan 22025-12-310001811972Qima Finance LTD | First Lien Senior Secured Term Loan2025-12-310001811972Real Chemistry Intermediate III, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972Real Chemistry Intermediate III, Inc. | Revolver2025-12-310001811972Recovery Point Systems, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972RKD Group, LLC | First Lien Senior Secured Term Loan2025-12-310001811972RKD Group, LLC | Revolver2025-12-310001811972ROI Solutions LLC | First Lien Senior Secured Term Loan2025-12-310001811972ROI Solutions LLC | Revolver2025-12-310001811972RPX Corporation | First Lien Senior Secured Term Loan2025-12-310001811972RPX Corporation | Revolver2025-12-310001811972Ruby Bidco Pty Ltd | First Lien Senior Secured Term Loan2025-12-310001811972Sansidor BV | First Lien Senior Secured Term Loan2025-12-310001811972Sapphire Bidco S.A.R.L. | First Lien Senior Secured Term Loan2025-12-310001811972SBP Holdings LP | First Lien Senior Secured Term Loan2025-12-310001811972SBP Holdings LP | Revolver2025-12-310001811972Scaled Agile, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972Scaled Agile, Inc. | Revolver2025-12-310001811972SmartShift Group, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972SmartShift Group, Inc. | Revolver2025-12-310001811972Sparus Holdings, LLC (f/k/a Sparus Holdings, Inc.) | First Lien Senior Secured Term Loan2025-12-310001811972Sparus Holdings, LLC (f/k/a Sparus Holdings, Inc.) | Revolver2025-12-310001811972Starnmeer B.V. | First Lien Senior Secured Term Loan2025-12-310001811972Sunrise Acquisition Bidco Limited | First Lien Senior Secured Term Loan2025-12-310001811972TA SL Cayman Aggregator Corp. | Subordinated Term Loan2025-12-310001811972Tanqueray Bidco Limited | First Lien Senior Secured Term Loan2025-12-310001811972Technology Service Stream BidCo Pty Ltd | First Lien Senior Secured Term Loan2025-12-310001811972Techone B.V. | First Lien Senior Secured Term Loan2025-12-310001811972Techone B.V. | Revolver2025-12-310001811972Trintech, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972Trintech, Inc. | Revolver2025-12-310001811972TSYL Corporate Buyer, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972TSYL Corporate Buyer, Inc. | Revolver2025-12-310001811972Turnberry Solutions, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972UBC Ledgers Holding AB | First Lien Senior Secured Term Loan 12025-12-310001811972UBC Ledgers Holding AB | First Lien Senior Secured Term Loan 22025-12-310001811972UHY Advisors, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972UHY Advisors, Inc. | Revolver2025-12-310001811972Utac Ceram | First Lien Senior Secured Term Loan 12025-12-310001811972Utac Ceram | First Lien Senior Secured Term Loan 22025-12-310001811972World 50, Inc. | First Lien Senior Secured Term Loan2025-12-310001811972World 50, Inc. | Revolver2025-12-310001811972Xeinadin Bidco Limited | First Lien Senior Secured Term Loan 12025-12-310001811972Xeinadin Bidco Limited | First Lien Senior Secured Term Loan 22025-12-310001811972Xeinadin Bidco Limited | Subordinated Term Loan2025-12-310001811972Zeppelin Bidco Limited | First Lien Senior Secured Term Loan2025-12-310001811972us-gaap:DebtSecuritiesMemberbdc:ServicesBusinessMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972Application Boot Camp LLC | First Lien Senior Secured Term Loan2025-12-310001811972Application Boot Camp LLC | Revolver2025-12-310001811972Application Boot Camp LLC | Subordinated Term Loan2025-12-310001811972Arc Education | First Lien Senior Secured Term Loan2025-12-310001811972Archimede | First Lien Senior Secured Term Loan2025-12-310001811972Bariacum S.A | First Lien Senior Secured Term Loan 12025-12-310001811972Bariacum S.A | First Lien Senior Secured Term Loan 22025-12-310001811972Bariacum S.A | First Lien Senior Secured Term Loan 32025-12-310001811972Cascade Residential Services LLC | First Lien Senior Secured Term Loan2025-12-310001811972Cascade Residential Services LLC | Revolver2025-12-310001811972CEC Entertainment, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Express Wash Acquisition Company, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Express Wash Acquisition Company, LLC | Revolver2025-12-310001811972FL Hawk Intermediate Holdings, Inc. (f/k/a Fineline Technologies, Inc.) | First Lien Senior Secured Term Loan2025-12-310001811972Global Academic Group Limited | First Lien Senior Secured Term Loan 12025-12-310001811972Global Academic Group Limited | First Lien Senior Secured Term Loan 22025-12-310001811972HomeX Services Group LLC | First Lien Senior Secured Term Loan2025-12-310001811972HomeX Services Group LLC | Revolver2025-12-310001811972InvoCare Limited | First Lien Senior Secured Term Loan2025-12-310001811972Kid Distro Holdings, LLC | First Lien Senior Secured Term Loan2025-12-310001811972Marmoutier Holding B.V. | Super Senior Secured Term Loan2025-12-310001811972Marmoutier Holding B.V. | First Lien Senior Secured Term Loan2025-12-310001811972Marmoutier Holding B.V. | Revolver2025-12-310001811972Premium Franchise Brands, LLC | First Lien Senior Secured Term Loan2025-12-310001811972QPE7 SPV1 BidCo Pty Ltd | First Lien Senior Secured Term Loan2025-12-310001811972Selenium Designated Activity Company | First Lien Senior Secured Term Loan2025-12-310001811972us-gaap:DebtSecuritiesMemberbdc:ServicesConsumerMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972Flexential Issuer, LLC | Structured Secured Note - 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GmbH | Common Stock2025-12-310001811972Aptus 1829. 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| LLC Units2025-12-310001811972TA KHP Aggregator, L.P. | Common Stock2025-12-310001811972Unosquare, LLC | LLC Units2025-12-310001811972VB Spine Intermediary II LLC | LLC Units2025-12-310001811972us-gaap:EquitySecuritiesMemberbdc:HealthcarePharmaceuticalsMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972Argus Bidco Limited | Common Stock2025-12-310001811972Argus Bidco Limited | Equity Loan Notes2025-12-310001811972Argus Bidco Limited | Preferred Stock2025-12-310001811972CH Buyer, LLC | LLC Units2025-12-310001811972CW Group Holdings, LLC | LLC Units2025-12-310001811972Eurofins Digital Testing International LUX Holding SARL | Common Stock2025-12-310001811972Eurofins Digital Testing International LUX Holding SARL | Preferred Stock2025-12-310001811972FinThrive Software Intermediate Holdings Inc. | Preferred Stock2025-12-310001811972FSS Buyer LLC | LP Interest2025-12-310001811972FSS Buyer LLC | LP Units2025-12-310001811972NAW Buyer LLC | LLC Units2025-12-310001811972OSP Hamilton Purchaser, LLC | LP Units2025-12-310001811972PDQ.Com Corporation | Class A-2 Partnership Units2025-12-310001811972ProfitOptics, LLC | LLC Units2025-12-310001811972Pro-Vision Solutions Holdings, LLC | LLC Units2025-12-310001811972us-gaap:EquitySecuritiesMemberbdc:HighTechIndustriesMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972Advantage Software Company (The), LLC | Class A1 Partnership Units2025-12-310001811972Advantage Software Company (The), LLC | Class A2 Partnership Units2025-12-310001811972Advantage Software Company (The), LLC | Class B1 Partnership Units2025-12-310001811972Advantage Software Company (The), LLC | Class B2 Partnership Units2025-12-310001811972ASC Communications, LLC | Class A Units2025-12-310001811972us-gaap:EquitySecuritiesMemberbdc:MediaAdvertisingPrintingPublishingMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001811972The Octave Music Group, Inc. | Partnership 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Loan2025-12-310001811972Broadstone Group UK LTD | Delayed Draw Term Loan2026-03-310001811972Broadstone Group UK LTD | Delayed Draw Term Loan2025-12-310001811972Broadway Buyer, LLC | Delayed Draw Term Loan2026-03-310001811972Broadway Buyer, LLC | Delayed Draw Term Loan2025-12-310001811972Caldwell & Gregory LLC | Delayed Draw Term Loan2026-03-310001811972Caldwell & Gregory LLC | Delayed Draw Term Loan2025-12-310001811972Canadian Orthodontic Partners Corp. | Delayed Draw Term Loan2026-03-310001811972Canadian Orthodontic Partners Corp. | Delayed Draw Term Loan2025-12-310001811972CCFF Buyer, LLC | Delayed Draw Term Loan2026-03-310001811972CCFF Buyer, LLC | Delayed Draw Term Loan2025-12-310001811972Coyo Uprising GmbH | Delayed Draw Term Loan2026-03-310001811972Coyo Uprising GmbH | Delayed Draw Term Loan2025-12-310001811972Credit Key Funding II LLC | Delayed Draw Term Loan2026-03-310001811972Credit Key Funding II LLC | Delayed Draw Term Loan2025-12-310001811972Dane Street, LLC | Delayed Draw 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Draw Term Loan2026-03-310001811972GMES LLC | Delayed Draw Term Loan2025-12-310001811972GMF Parent, Inc. | Delayed Draw Term Loan2026-03-310001811972GMF Parent, Inc. | Delayed Draw Term Loan2025-12-310001811972GPNZ II GmbH | Delayed Draw Term Loan2026-03-310001811972GPNZ II GmbH | Delayed Draw Term Loan2025-12-310001811972Groupe Product Life | Delayed Draw Term Loan2026-03-310001811972Groupe Product Life | Delayed Draw Term Loan2025-12-310001811972Haystack Holdings LLC | Delayed Draw Term Loan2026-03-310001811972Haystack Holdings LLC | Delayed Draw Term Loan2025-12-310001811972HeartHealth Bidco Pty Ltd | Delayed Draw Term Loan2026-03-310001811972HeartHealth Bidco Pty Ltd | Delayed Draw Term Loan2025-12-310001811972High Street Buyer Inc. | Delayed Draw Term Loan2026-03-310001811972High Street Buyer Inc. | Delayed Draw Term Loan2025-12-310001811972HomeX Services Group LLC | Delayed Draw Term Loan2026-03-310001811972HomeX Services Group LLC | Delayed Draw Term Loan2025-12-310001811972HS 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(SpotSee) | Revolver 22025-12-310001811972Mercell Holding AS | Capex / Acquisition Facility2026-03-310001811972Mercell Holding AS | Capex / Acquisition Facility2025-12-310001811972MIV Buyer, LLC | Delayed Draw Term Loan2026-03-310001811972MIV Buyer, LLC | Delayed Draw Term Loan2025-12-310001811972Modern Star Holdings Bidco Pty Limited | Term Loan2026-03-310001811972Modern Star Holdings Bidco Pty Limited | Term Loan2025-12-310001811972Moonlight Bidco Limited | Delayed Draw Term Loan2026-03-310001811972Moonlight Bidco Limited | Delayed Draw Term Loan2025-12-310001811972MSI Express Inc. | Revolver2025-12-310001811972NAW Buyer LLC | Delayed Draw Term Loan2026-03-310001811972NAW Buyer LLC | Delayed Draw Term Loan2025-12-310001811972Northstar Recycling, LLC | Revolver2025-12-310001811972NPM Investments 28 B.V. | Delayed Draw Term Loan2026-03-310001811972NPM Investments 28 B.V. | Delayed Draw Term Loan2025-12-310001811972OSP AFS Buyer, LLC | Delayed Draw Term Loan2026-03-310001811972OSP AFS Buyer, LLC | Delayed Draw Term Loan2025-12-310001811972Owl Intermediate Holdings, LLC | Delayed Draw Term Loan2026-03-310001811972Owl Intermediate Holdings, LLC | Delayed Draw Term Loan2025-12-310001811972Panther Bidco Pty Ltd | Capex / Acquisition Facility2026-03-310001811972Panther Bidco Pty Ltd | Capex / Acquisition Facility2025-12-310001811972Pepper Bidco Pty Ltd | Delayed Draw Term Loan2026-03-310001811972Pepper Bidco Pty Ltd | Delayed Draw Term Loan2025-12-310001811972Premium Invest | Capex / Acquisition Facility2026-03-310001811972Premium Invest | Capex / Acquisition Facility2025-12-310001811972Proceed Legal Inc. | Delayed Draw Term Loan2026-03-310001811972Proceed Legal Inc. | Delayed Draw Term Loan2025-12-310001811972Proceed Legal Inc. | Revolver2025-12-310001811972Qima Finance LTD | Capex / Acquisition Facility2026-03-310001811972Qima Finance LTD | Capex / Acquisition Facility2025-12-310001811972Randys Holdings, Inc. | Delayed Draw Term Loan2026-03-310001811972Randys Holdings, Inc. | Delayed Draw Term Loan2025-12-310001811972Rapid Buyer LLC | Delayed Draw Term Loan2026-03-310001811972Rapid Buyer LLC | Delayed Draw Term Loan2025-12-310001811972Real Chemistry Intermediate III, Inc. | Delayed Draw Term Loan2026-03-310001811972Real Chemistry Intermediate III, Inc. | Delayed Draw Term Loan2025-12-310001811972Recon Buyer LLC | Delayed Draw Term Loan2026-03-310001811972Recon Buyer LLC | Delayed Draw Term Loan2025-12-310001811972REP SEKO MERGER SUB LLC | Delayed Draw Term Loan2026-03-310001811972REP SEKO MERGER SUB LLC | Delayed Draw Term Loan2025-12-310001811972RKD Group, LLC | Delayed Draw Term Loan2026-03-310001811972RKD Group, LLC | Delayed Draw Term Loan2025-12-310001811972Rocade Holdings LLC | Delayed Draw Term Loan2026-03-310001811972Rocade Holdings LLC | Delayed Draw Term Loan2025-12-310001811972Rocade Holdings LLC | Preferred Equity2026-03-310001811972Rocade Holdings LLC | Preferred Equity2025-12-310001811972ROI Solutions LLC | Delayed Draw Term Loan2026-03-310001811972ROI Solutions LLC | Delayed Draw Term Loan2025-12-310001811972Ruby Bidco Pty Ltd | Delayed Draw Term Loan2026-03-310001811972Ruby Bidco Pty Ltd | Delayed Draw Term Loan2025-12-310001811972Sanoptis S.A.R.L. | Term Loan2026-03-310001811972Sanoptis S.A.R.L. | Term Loan2025-12-310001811972Sapphire Bidco S.A.R.L. | Delayed Draw Term Loan2026-03-310001811972Sapphire Bidco S.A.R.L. | Delayed Draw Term Loan2025-12-310001811972SCP CDH Buyer, Inc. | Delayed Draw Term Loan2026-03-310001811972SCP CDH Buyer, Inc. | Delayed Draw Term Loan2025-12-310001811972Sinari Invest | Delayed Draw Term Loan2026-03-310001811972Sinari Invest | Delayed Draw Term Loan2025-12-310001811972Skyvault Holdings LLC | Delayed Draw Term Loan2026-03-310001811972Skyvault Holdings LLC | Delayed Draw Term Loan2025-12-310001811972Skyvault Holdings LLC | Equity2026-03-310001811972Skyvault Holdings LLC | Equity2025-12-310001811972SPATCO Energy Solutions, LLC | Delayed Draw Term Loan2026-03-310001811972SPATCO Energy Solutions, LLC | Delayed Draw Term Loan2025-12-310001811972SRS Acquiom Holdings LLC | Revolver2025-12-310001811972SSCP Pegasus Midco Limited | Delayed Draw Term Loan2026-03-310001811972SSCP Pegasus Midco Limited | Delayed Draw Term Loan2025-12-310001811972Sunrise Acquisition Bidco Limited | Capex / Acquisition Facility2026-03-310001811972Sunrise Acquisition Bidco Limited | Capex / Acquisition Facility2025-12-310001811972Swoop Intermediate III, Inc. | Delayed Draw Term Loan2026-03-310001811972Swoop Intermediate III, Inc. | Delayed Draw Term Loan2025-12-310001811972Syntax Midco 2 Inc. | Delayed Draw Term Loan2026-03-310001811972Syntax Midco 2 Inc. | Delayed Draw Term Loan2025-12-310001811972TA KHP Aggregator, L.P. | Delayed Draw Term Loan2026-03-310001811972TA KHP Aggregator, L.P. | Delayed Draw Term Loan2025-12-310001811972Tank Holding Corp | Revolver2025-12-310001811972Tanqueray Bidco Limited | Capex / Acquisition Facility2026-03-310001811972Tanqueray Bidco Limited | Capex / Acquisition Facility2025-12-310001811972Technology Service Stream BidCo Pty Ltd | Delayed Draw Term Loan2026-03-310001811972Technology Service Stream BidCo Pty Ltd | Delayed Draw Term Loan2025-12-310001811972Techone B.V. | Revolver2026-03-310001811972The Caprock Group, Inc. (aka TA/TCG Holdings, LLC) | Delayed Draw Term Loan2026-03-310001811972The Caprock Group, Inc. (aka TA/TCG Holdings, LLC) | Delayed Draw Term Loan2025-12-310001811972THG Acquisition, LLC | Delayed Draw Term Loan2026-03-310001811972THG Acquisition, LLC | Delayed Draw Term Loan2025-12-310001811972Trintech, Inc. | Revolver2026-03-310001811972TSYL Corporate Buyer, Inc. | Delayed Draw Term Loan2026-03-310001811972TSYL Corporate Buyer, Inc. | Delayed Draw Term Loan2025-12-310001811972UBC Ledgers Holding AB | Delayed Draw Term Loan2026-03-310001811972UBC Ledgers Holding AB | Delayed Draw Term Loan2025-12-310001811972UHY Advisors, Inc. | Delayed Draw Term Loan2026-03-310001811972UHY Advisors, Inc. | Delayed Draw Term Loan2025-12-310001811972Unither (Uniholding) | Delayed Draw Term Loan2026-03-310001811972Unither (Uniholding) | Delayed Draw Term Loan2025-12-310001811972Unosquare, LLC | Delayed Draw Term Loan2026-03-310001811972Unosquare, LLC | Delayed Draw Term Loan2025-12-310001811972Woodland Foods, LLC | Line of Credit2026-03-310001811972Woodland Foods, LLC | Line of Credit2025-12-310001811972WWEC Holdings III Corp | Revolver2025-12-310001811972Zelda Luxco S.A.S | Delayed Draw Term Loan2026-03-310001811972Zelda Luxco S.A.S | Delayed Draw Term Loan2025-12-310001811972us-gaap:SubsequentEventMember2026-05-072026-05-070001811972bdc:INGCapitalCreditFacilityMember2026-01-012026-03-310001811972bdc:INGCapitalCreditFacilityDenominatedInPoundsSterlingMember2026-01-012026-03-310001811972bdc:INGCapitalCreditFacilityDenominatedInEurosMember2026-01-012026-03-310001811972bdc:SeniorUnsecuredNotesDueFebruary2027Member2026-01-012026-03-31

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

__________________________________________________________

Form 10-Q

__________________________________________________________

(Mark One)


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

For the quarterly period ended March 31, 2026


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

For the transition period from to

Commission file number 814-01348

______________________________________________________________________

Barings Capital Investment Corporation

(Exact name of registrant as specified in its charter)

__________________________________________________________


Maryland						85-0654007
(State or other jurisdiction of						(I.R.S. Employer
incorporation or organization)						Identification No.)

300 South Tryon Street, Suite 2500 Charlotte, North Carolina						28202
(Address of principal executive offices)						(Zip Code)

Registrant's telephone number, including area code: (704) 805-7200

Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report: N/A

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


Title of Each Class	Trading Symbol	Name of Each Exchange on Which Registered
None	None	None

________________________________________________________

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ý 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 during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ý 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	ý	Smaller reporting company	¨
		Emerging growth company	ý
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 ý

The number of shares outstanding of the registrant’s common stock on May 7, 2026 was 33,024,526.

BARINGS CAPITAL INVESTMENT CORPORATION

TABLE OF CONTENTS

QUARTERLY REPORT ON FORM 10-Q


		Page
PART I – FINANCIAL INFORMATION
Item 1.	Financial Statements
	Unaudited Consolidated Balance Sheet as of March 31, 2026 and Consolidated Balance Sheet as of December 31, 2025	3
	Unaudited Consolidated Statements of Operations for the Three Months Ended March 31, 2026 and 2025	4
	Unaudited Consolidated Statement s of Changes in Net Assets for the Three Months Ended March 31, 2026 and 2025	6
	Unaudited Consolidated Statement s of Cash Flows for the Three Months Ended March 31, 2026 and 2025	7
	Unaudited Consolidated Schedule of Investments as of March 31, 2026	8
	Consolidated Schedule of Investments as of December 31, 2025	31
	Notes to Unaudited Consolidated Financial Statements	54
Item 2.	Management ’s Discussion and Analysis of Financial Condition and Results of Operations	86
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	103
Item 4.	Controls and Procedures	104

PART II – OTHER INFORMATION
Item 1.	Legal Proceedings	105
Item 1A.	Risk Factors	105
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	105
Item 3.	Defaults Upon Senior Securities	105
Item 4.	Mine Safety Disclosures	105
Item 5.	Other Information	105
Item 6.	Exhibits	106
Signatures		107

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements.

Barings Capital Investment Corporation

Consolidated Balance Sheets

(in thousands, except share and per share data)


	March 31, 2026		December 31, 2025
	(Unaudited)
Assets:
Investments at fair value:
Non-Control / Non-Affiliate investments (cost of $1,108,116 and $1,139,490 as of March 31, 2026 and December 31, 2025, respectively)	$	1,091,377	$	1,134,048
Affiliate investments (cost of $193,518 and $195,587 as of March 31, 2026 and December 31, 2025, respectively)	201,574		202,912


Total investments at fair value	1,292,951		1,336,960
Cash	29,324		30,704
Foreign currencies (cost of $17,783 and $10,151 as of March 31, 2026 and December 31, 2025, respectively)	17,778		10,118
Interest and fees receivable	19,070		19,920
Investments funded in advance	5,509		—
Prepaid expenses and other assets	55		186
Derivative assets	1,976		46
Deferred financing fees	4,647		5,155
Receivable from unsettled transactions	530		981
Total assets	$	1,371,840	$	1,404,070
Liabilities:
Accounts payable and accrued liabilities	$	3,441	$	4,249
Interest payable	2,319		3,725
Administrative fees payable	256		233
Base management fees payable	504		519
Incentive management fees payable	2,679		3,040

Derivative liabilities	—		638
Payable from unsettled transactions	184		380
Borrowings under credit facility	530,319		562,286

Notes payable (net of deferred financing fees)	99,955		99,943

Total liabilities	639,657		675,013
Commitments and contingencies (Note 7)
Net Assets:
Common stock, $0.001 par value per share (500,000,000 shares authorized, 33,024,526 and 32,539,522 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively)	33		33
Additional paid-in capital	719,523		708,655
Total distributable earnings	12,627		20,369
Total net assets	732,183		729,057
Total liabilities and net assets	$	1,371,840	$	1,404,070
Net asset value per share	$	22.17	$	22.41

See accompanying notes.

Barings Capital Investment Corporation

Unaudited Consolidated Statements of Operations

(in thousands, except share and per share data)


	Three Months Ended		Three Months Ended
	March 31, 2026		March 31, 2025
Investment income:
Interest income:
Non-Control / Non-Affiliate investments	$	22,592	$	26,384
Affiliate investments	636		514


Total interest income	23,228		26,898
Dividend income:
Non-Control / Non-Affiliate investments	542		18
Affiliate investments	4,579		2,273

Total dividend income	5,121		2,291
Fee and other income:
Non-Control / Non-Affiliate investments	1,564		1,760
Affiliate investments	21		20

Total fee and other income	1,585		1,780
Payment-in-kind interest income:
Non-Control / Non-Affiliate investments	2,247		1,513
Affiliate investments	17		29

Total payment-in-kind interest income	2,264		1,542
Payment-in-kind dividend income:
Non-Control / Non-Affiliate investments	807		640
Affiliate investments	—		1,530

Total payment-in-kind dividend income	807		2,170
Interest income from cash	8		5
Total investment income	33,013		34,686
Operating expenses:
Interest and other financing fees	9,131		11,325
Base management fee (Note 2)	504		524
Incentive management fees (Note 2)	2,679		2,571





Other general and administrative expenses (Note 2)	993		1,055
Total operating expenses	13,307		15,475
Net investment income before taxes	19,706		19,211
Income taxes, including excise tax expense	400		400
Net investment income after taxes	$	19,306	$	18,811


Barings Capital Investment Corporation Unaudited Consolidated Statements of Operations — (Continued) (in thousands, except share and per share data)
	Three Months Ended		Three Months Ended
	March 31, 2026		March 31, 2025
Realized gains (losses) and unrealized appreciation (depreciation) on investments, foreign currency transactions and forward currency contracts:
Net realized gains (losses):
Non-Control / Non-Affiliate investments	$	742	$	(3,142)


Net realized gains (losses) on investments	742		(3,142)
Foreign currency transactions	(279)		534
Forward currency contracts	(1,754)		11,418
Net realized gains (losses)	(1,291)		8,810
Net unrealized appreciation (depreciation):
Non-Control / Non-Affiliate investments	(11,208)		14,400

Affiliate investments	731		368

Net unrealized appreciation (depreciation) on investments	(10,477)		14,768
Foreign currency transactions	2,977		(3,456)
Forward currency contracts	2,568		(17,090)
Net unrealized appreciation (depreciation)	(4,932)		(5,778)
Net realized gains (losses) and unrealized appreciation (depreciation) on investments, foreign currency transactions and forward currency contracts	(6,223)		3,032


Net increase in net assets resulting from operations	$	13,083	$	21,843
Net investment income per share — basic and diluted	$	0.59	$	0.61
Net increase in net assets resulting from operations per share — basic and diluted	$	0.40	$	0.71
Dividends / distributions per share:
Total dividends / distributions	$	0.64	$	0.64


Weighted average shares outstanding — basic and diluted	32,647,301		30,827,801

See accompanying notes.

Barings Capital Investment Corporation

Unaudited Consolidated Statements of Changes in Net Assets

(in thousands, except share amounts)


Three Months Ended March 31, 2026	Common Stock			Additional Paid-In Capital		Total Distributable Earnings		Total Net Assets
	Number of Shares	Par Value
Balance, December 31, 2025	32,539,522	$	33	$	708,655	$	20,369	$	729,057
Net investment income	—	—		—		19,306		19,306
Net realized loss on investments / foreign currency transactions / forward currency contracts	—	—		—		(1,291)		(1,291)
Net unrealized depreciation on investments / foreign currency transactions / forward currency contracts	—	—		—		(4,932)		(4,932)

Dividends / distributions	485,004	—		10,868		(20,825)		(9,957)

Balance, March 31, 2026	33,024,526	$	33	$	719,523	$	12,627	$	732,183


Three Months Ended March 31, 2025	Common Stock			Additional Paid-In Capital		Total Distributable Earnings		Total Net Assets
	Number of Shares	Par Value
Balance, December 31, 2024	30,736,412	$	31	$	666,803	$	26,743	$	693,577
Net investment income	—	—		—		18,811		18,811
Net realized gain on investments / foreign currency transactions / forward currency contracts	—	—		—		8,810		8,810
Net unrealized depreciation on investments / foreign currency transactions / forward currency contracts	—	—		—		(5,778)		(5,778)

Dividends / distributions	432,894	—		9,770		(19,671)		(9,901)

Balance, March 31, 2025	31,169,306	$	31	$	676,573	$	28,915	$	705,519

See accompanying notes.

Barings Capital Investment Corporation

Unaudited Consolidated Statements of Cash Flows

(in thousands)


	Three Months Ended		Three Months Ended
	March 31, 2026		March 31, 2025
Cash flows from operating activities:
Net increase in net assets resulting from operations	$	13,083	$	21,843
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:
Purchases of portfolio investments	(35,139)		(38,917)
Repayments received / sales of portfolio investments	72,718		44,897


Loan origination and other fees received	305		1,026
Net realized (gain) loss on investments	(742)		3,142
Net realized (gain) loss on foreign currency transactions	279		(534)
Net realized (gain) loss on forward currency contracts	1,754		(11,418)
Net unrealized (appreciation) depreciation on investments	10,477		(14,768)
Net unrealized (appreciation) depreciation on foreign currency transactions	(2,977)		3,456
Net unrealized (appreciation) depreciation on forward currency contracts	(2,568)		17,090

Payment-in-kind interest / dividends	(2,803)		(3,646)
Amortization of deferred financing fees	521		519


Accretion of loan origination and other fees	(1,434)		(1,336)
Amortization / accretion of purchased loan premium / discount	(139)		(541)
Payments for derivative contracts	(1,800)		(3,272)
Proceeds from derivative contracts	46		14,690
Changes in operating assets and liabilities:
Interest and fees receivable	1,406		3,174
Investments funded in advance	(5,509)		—
Prepaid expenses and other assets	131		(237)
Accounts payable and accrued liabilities	(1,071)		(1,265)

Interest payable	(1,404)		2,081

Net cash provided by (used in) operating activities	45,134		35,984
Cash flows from financing activities:
Borrowings under credit facility	862		21,000
Repayments of credit facility	(29,759)		(53,596)



Cash dividends / distributions paid	(9,957)		(9,901)
Net cash provided by (used in) financing activities	(38,854)		(42,497)
Net increase (decrease) in cash and foreign currencies	6,280		(6,513)
Cash and foreign currencies, beginning of period	40,822		53,842
Cash and foreign currencies, end of period	$	47,102	$	47,329
Supplemental disclosure of cash flow information:
Cash paid for interest	$	9,819	$	8,602
Excise taxes paid during the period	$	1,475	$	1,863
Summary of non-cash financing transactions:

Dividends / distributions paid through DRIP share issuances	$	10,868	$	9,770

See accompanying notes.

Barings Capital Investment Corporation

Unaudited Consolidated Schedule of Investments

March 31, 2026

(Amounts in thousands, except unit/share amounts)


Portfolio Company(5)	Investment Type(1)(2)	Interest	Acq. Date	Maturity Date	Principal Amount		Cost		Fair Value		% of Net Assets *		Notes
Non–Control / Non–Affiliate Investments:
Debt Investments
Aerospace & Defense
Accurus Aerospace Corporation	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.6% Cash	04/22	04/28	$	9,378	$	9,320	$	9,341	1.3	%	(6)(7)(12)
Accurus Aerospace Corporation	Revolver	SOFR + 4.75%, 8.6% Cash	04/22	04/28	115		111		112		—	%	(6)(7)(12)(26)
ATL II MRO Holdings Inc.	First Lien Senior Secured Term Loan	SOFR + 5.25%, 8.9% Cash	11/22	11/28	10,439		10,299		10,334		1.4	%	(6)(7)(12)
ATL II MRO Holdings Inc.	Revolver	SOFR + 5.25%, 8.9% Cash	11/22	11/28	—		(23)		(19)		—	%	(6)(7)(12)(26)
Compass Precision, LLC	Senior Subordinated Term Loan	11.0% Cash, 1.0% PIK	04/22	04/28	656		653		656		0.1	%	(6)
GB Eagle Buyer, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.4% Cash	12/22	11/30	12,397		12,218		12,273		1.7	%	(6)(7)(12)
GB Eagle Buyer, Inc.	Revolver	SOFR + 4.75%, 8.4% Cash	12/22	11/30	821		793		799		0.1	%	(6)(7)(12)(26)
M-Personal Protection Management GMBH	First Lien Senior Secured Term Loan	EURIBOR + 5.00%, 7.0% Cash	10/24	09/31	3,457		3,221		3,457		0.5	%	(3)(6)(7)(9)
Megawatt Acquisitionco, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.50%, 9.2% Cash	03/24	03/30	2,054		2,025		2,002		0.3	%	(6)(7)(12)
Megawatt Acquisitionco, Inc.	Revolver	SOFR + 5.50%, 9.2% Cash	03/24	03/30	—		(4)		(8)		—	%	(6)(7)(12)(26)
Protego Bidco B.V.	Super Senior Secured Term Loan	EURIBOR + 6.00%, 8.1% Cash	02/26	03/33	509		490		509		0.1	%	(3)(6)(7)(10)
Protego Bidco B.V.	First Lien Senior Secured Term Loan	EURIBOR + 6.00%, 8.1% Cash	03/21	03/28	458		462		458		0.1	%	(3)(6)(7)(10)
Protego Bidco B.V.	Revolver	EURIBOR + 6.50%, 8.6% Cash	03/21	03/27	782		797		782		0.1	%	(3)(6)(7)(10)
SISU ACQUISITIONCO., INC.	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.0% Cash	12/20	12/26	4,890		4,876		4,841		0.7	%	(6)(7)(12)
Trident Maritime Systems, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.50%, 9.2% Cash, 2.0% PIK	02/21	02/27	16,176		16,129		13,992		1.9	%	(6)(7)(12)
Whitcraft Holdings, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.7% Cash	02/23	09/31	6,148		6,009		6,097		0.8	%	(6)(7)(12)
Whitcraft Holdings, Inc.	Revolver	SOFR + 5.00%, 8.7% Cash	02/23	09/31	182		164		175		—	%	(6)(7)(12)(26)
Subtotal Aerospace & Defense (9.0%)*					68,462		67,540		65,801
Automotive
Burgess Point Purchaser Corporation	Second Lien Senior Secured Term Loan	SOFR + 9.00%, 12.8% Cash	07/22	07/30	2,273		2,218		1,975		0.3	%	(6)(7)(12)
OAC Holdings I Corp	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.8% Cash	03/22	03/29	1,638		1,625		1,638		0.2	%	(6)(7)(12)
OAC Holdings I Corp	Revolver	SOFR + 5.00%, 8.8% Cash	03/22	03/28	450		445		450		0.1	%	(6)(7)(12)(26)
Randys Holdings, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.7% Cash	11/22	11/29	12,770		12,570		12,653		1.7	%	(6)(7)(11)(26)
Randys Holdings, Inc.	Revolver	SOFR + 5.00%, 8.7% Cash	11/22	11/29	70		55		57		—	%	(6)(7)(11)(26)
Recon Buyer LLC	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.2% Cash	11/25	11/31	653		627		629		0.1	%	(6)(7)(12)(26)
Recon Buyer LLC	Revolver	SOFR + 4.50%, 8.2% Cash	11/25	11/31	—		(2)		(2)		—	%	(6)(7)(12)(26)
SPATCO Energy Solutions, LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.7% Cash	07/24	07/30	3,844		3,779		3,807		0.5	%	(6)(7)(12)(26)
SPATCO Energy Solutions, LLC	Revolver	SOFR + 5.00%, 8.7% Cash	07/24	07/30	—		(9)		(5)		—	%	(6)(7)(12)(26)
SVI International LLC	First Lien Senior Secured Term Loan	SOFR + 6.75%, 10.4% Cash	03/24	03/30	639		630		639		0.1	%	(6)(7)(12)
SVI International LLC	Revolver	SOFR + 6.75%, 10.4% Cash	03/24	03/30	—		(1)		—		—	%	(6)(7)(12)(26)
Subtotal Automotive (3.0%)*					22,337		21,937		21,841
Banking, Finance, Insurance, & Real Estate
Aegros Holdco 2 Ltd	Second Lien Senior Secured Term Loan	SONIA + 8.50%, 13.0% PIK	05/25	05/32	2,724		2,694		2,345		0.3	%	(3)(6)(14)

Barings Capital Investment Corporation

Unaudited Consolidated Schedule of Investments — (Continued)

March 31, 2026

(Amounts in thousands, except unit/share amounts)


Portfolio Company(5)	Investment Type(1)(2)	Interest	Acq. Date	Maturity Date	Principal Amount		Cost		Fair Value		% of Net Assets *		Notes
Bishop Street Underwriters, LLC	First Lien Senior Secured Term Loan	SOFR + 5.25%, 8.9% Cash	07/25	07/31	$	2,367	$	2,345	$	2,343	0.3	%	(6)(7)(11)
Broadstone Group UK LTD	First Lien Senior Secured Term Loan	SONIA + 4.75%, 8.5% Cash	03/25	02/32	709		669		694		0.1	%	(3)(6)(7)(15)(26)
Credit Key Funding II LLC	First Lien Senior Secured Term Loan	SOFR + 7.50%, 11.2% Cash	12/25	11/30	2,063		2,018		2,020		0.3	%	(6)(7)(12)(26)
Credit Key Funding II LLC	Revolver	SOFR + 7.50%, 11.2% Cash	12/25	12/30	—		(3)		(3)		—	%	(6)(7)(12)(26)
ERS Holdings, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.4% Cash	01/26	01/31	1,258		1,234		1,234		0.2	%	(6)(7)(11)(26)
ERS Holdings, LLC	Revolver	SOFR + 4.75%, 8.4% Cash	01/26	01/31	—		(2)		(2)		—	%	(6)(7)(11)(26)
Finaxy Holding	First Lien Senior Secured Term Loan	EURIBOR + 4.50%, 6.6% Cash	11/23	11/30	4,870		4,456		4,807		0.7	%	(3)(6)(7)(10)(26)
Forge Borrower, LLC	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.2% Cash	01/26	01/33	921		899		899		0.1	%	(6)(7)(12)(26)
Forge Borrower, LLC	Revolver	SOFR + 4.50%, 8.2% Cash	01/26	01/33	—		(3)		(3)		—	%	(6)(7)(12)(26)
Groupe Guemas	First Lien Senior Secured Term Loan	EURIBOR + 6.75%, 8.8% Cash	10/23	09/30	2,685		2,421		2,669		0.4	%	(3)(6)(7)(10)
High Street Buyer Inc.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.2% Cash	07/25	07/32	376		362		361		—	%	(6)(7)(12)(26)
IM Square	First Lien Senior Secured Term Loan	EURIBOR + 6.00%, 8.1% Cash	05/21	05/28	3,687		3,800		3,687		0.5	%	(3)(6)(7)(9)
Markerstudy Group Limited	First Lien Senior Secured Term Loan	SONIA + 5.75%, 9.5% Cash	03/26	02/33	2,408		2,414		2,384		0.3	%	(3)(6)(7)(14)
ORS Buyer, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.4% Cash	06/25	08/31	2,476		2,443		2,452		0.3	%	(6)(7)(12)
OSP AFS Buyer, LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.7% Cash	10/25	10/31	746		721		723		0.1	%	(6)(7)(12)(26)
OSP AFS Buyer, LLC	Revolver	SOFR + 5.00%, 8.7% Cash	10/25	10/31	—		(4)		(4)		—	%	(6)(7)(12)(26)
Owl Intermediate Holdings, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.4% Cash	04/25	04/32	1,897		1,876		1,751		0.2	%	(6)(7)(12)(26)
Owl Intermediate Holdings, LLC	Revolver	SOFR + 4.75%, 8.4% Cash	04/25	04/32	87		83		55		—	%	(6)(7)(12)(26)
Policy Services Company, LLC	First Lien Senior Secured Term Loan	SOFR + 6.00%, 9.9% Cash, 4.0% PIK	12/21	06/26	22,591		22,396		20,332		2.8	%	(6)(7)(12)
Premium Invest	First Lien Senior Secured Term Loan	EURIBOR + 5.75%, 7.8% Cash	06/21	12/30	2,434		2,233		2,434		0.3	%	(3)(6)(7)(9)(26)
Shelf Bidco Ltd	Second Out Term Loan	SOFR + 5.00%, 8.7% Cash	10/24	10/31	17,054		16,981		16,985		2.3	%	(3)(6)(7)(12)
SRS Acquiom Holdings LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.4% Cash	01/26	01/32	2,051		2,031		2,030		0.3	%	(6)(7)(12)
SRS Acquiom Holdings LLC	Revolver	SOFR + 4.75%, 8.4% Cash	01/26	01/32	60		56		55		—	%	(6)(7)(12)(26)
The Caprock Group, Inc. (aka TA/TCG Holdings, LLC)	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.2% Cash	10/21	12/28	4,419		4,377		4,377		0.6	%	(6)(7)(11)(26)
The Caprock Group, Inc. (aka TA/TCG Holdings, LLC)	Revolver	SOFR + 4.50%, 8.2% Cash	10/21	12/28	—		(6)		(7)		—	%	(6)(7)(11)(26)
THG Acquisition, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.4% Cash	10/24	10/31	3,924		3,890		3,901		0.5	%	(6)(7)(11)(26)
THG Acquisition, LLC	Revolver	SOFR + 4.75%, 8.4% Cash	10/24	10/31	132		128		129		—	%	(6)(7)(11)(26)
WEST-NR ACQUISITIONCO, LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.8% Cash	08/23	12/27	1,972		1,955		1,972		0.3	%	(6)(7)(12)
Subtotal Banking, Finance, Insurance, & Real Estate (11.0%)*					83,911		82,464		80,620
Beverage, Food, & Tobacco
CTI Foods Holdings Co., LLC	First Lien Senior Secured Term Loan	SOFR + 7.86%, 11.8% Cash	04/25	04/29	6,567		6,463		6,567		0.9	%	(6)(7)(12)
CTI Foods Holdings Co., LLC	Last In First Out Term Loan	SOFR + 10.00%, 13.9% PIK	02/24	04/29	5,049		4,981		5,049		0.7	%	(6)(7)(12)
CTI Foods Holdings Co., LLC	First Out Term Loan	SOFR + 10.00%, 13.9% PIK	02/24	04/29	2,489		2,484		2,489		0.3	%	(6)(7)(12)
CTI Foods Holdings Co., LLC	First Out Term Loan	SOFR + 9.00%, 12.9% PIK	02/24	04/29	907		907		907		0.1	%	(6)(7)(12)

Barings Capital Investment Corporation

Unaudited Consolidated Schedule of Investments — (Continued)

March 31, 2026

(Amounts in thousands, except unit/share amounts)


Portfolio Company(5)	Investment Type(1)(2)	Interest	Acq. Date	Maturity Date	Principal Amount		Cost		Fair Value		% of Net Assets *		Notes
CTI Foods Holdings Co., LLC	Second Out Term Loan	SOFR + 9.00%, 12.9% PIK	02/24	04/29	$	707	$	707	$	707	0.1	%	(6)(7)(12)
GMF Parent, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.2% Cash	12/25	12/32	1,396		1,376		1,377		0.2	%	(6)(7)(12)(26)
GMF Parent, Inc.	Revolver	SOFR + 4.50%, 8.2% Cash	12/25	12/32	11		8		8		—	%	(6)(7)(12)(26)
Riedel Beheer B.V.	First Lien Senior Secured Term Loan	EURIBOR + 6.25%, 8.4% Cash	12/21	12/28	2,389		2,276		2,378		0.3	%	(3)(6)(7)(9)
Woodland Foods, LLC	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.1% Cash	12/21	12/28	3,566		3,542		3,532		0.5	%	(6)(7)(12)
Woodland Foods, LLC	Revolver	SOFR + 5.25%, 9.1% Cash	12/21	12/28	262		255		252		—	%	(6)(7)(12)(26)
Subtotal Beverage, Food, & Tobacco (3.2%)*					23,343		22,999		23,266
Capital Equipment
AirX Climate Solutions, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.7% Cash	11/23	11/29	850		843		836		0.1	%	(6)(7)(12)(26)
AirX Climate Solutions, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.75%, 9.4% Cash	11/23	11/29	653		642		656		0.1	%	(6)(7)(12)
AirX Climate Solutions, Inc.	Revolver	SOFR + 5.75%, 9.4% Cash	11/23	11/29	16		13		16		—	%	(6)(7)(12)(26)
APC1 Holding	First Lien Senior Secured Term Loan	EURIBOR + 5.15%, 7.3% Cash	07/22	07/29	2,650		2,339		2,601		0.4	%	(3)(6)(7)(9)
BPG Holdings IV Corp	First Lien Senior Secured Term Loan	SOFR + 2.00%, 5.7% Cash, 5.0% PIK	03/23	07/29	9,795		9,456		7,640		1.0	%	(6)(7)(12)
Cobham Slip Rings SAS	First Lien Senior Secured Term Loan	SOFR + 6.00%, 9.7% Cash	11/21	11/28	1,995		1,980		1,995		0.3	%	(3)(6)(7)(12)
DAWGS Intermediate Holdings Co.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.2% Cash	03/25	03/31	1,829		1,813		1,822		0.2	%	(6)(7)(12)
DAWGS Intermediate Holdings Co.	Revolver	SOFR + 4.50%, 8.2% Cash	03/25	03/31	77		72		74		—	%	(6)(7)(12)(26)
Kanawha Scales & Systems, LLC	First Lien Senior Secured Term Loan	SOFR + 4.25%, 7.9% Cash	11/25	11/32	423		415		415		0.1	%	(6)(7)(12)(26)
Kanawha Scales & Systems, LLC	Revolver	SOFR + 4.25%, 7.9% Cash	11/25	11/32	35		34		34		—	%	(6)(7)(12)(26)
Polara Enterprises, L.L.C.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.3% Cash	12/21	12/27	1,607		1,597		1,607		0.2	%	(6)(7)(12)
Polara Enterprises, L.L.C.	Revolver	SOFR + 4.50%, 8.3% Cash	12/21	12/27	103		99		103		—	%	(6)(7)(12)(26)
Process Insights Acquisition, Inc.	First Lien Senior Secured Term Loan	SOFR + 1.65%, 5.3% Cash, 4.5% PIK	07/23	07/29	3,783		3,729		3,163		0.4	%	(6)(7)(12)
Process Insights Acquisition, Inc.	Revolver	SOFR + 1.65%, 5.3% Cash, 4.5% PIK	07/23	07/29	676		667		565		0.1	%	(6)(7)(12)
Rapid Buyer LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.4% Cash	10/24	10/30	3,218		3,179		3,183		0.4	%	(6)(7)(13)(26)
Rapid Buyer LLC	Revolver	SOFR + 4.75%, 8.4% Cash	10/24	10/30	—		(7)		(6)		—	%	(6)(7)(13)(26)
TAPCO Buyer LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.7% Cash	11/24	11/30	4,363		4,314		4,315		0.6	%	(6)(7)(11)
TAPCO Buyer LLC	Revolver	SOFR + 5.00%, 8.7% Cash	11/24	11/30	—		(5)		(7)		—	%	(6)(7)(11)(26)
Tencarva Machinery Company, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.6% Cash	12/21	12/27	4,070		4,047		4,034		0.6	%	(6)(7)(12)
Tencarva Machinery Company, LLC	Revolver	SOFR + 4.75%, 8.6% Cash	12/21	12/27	—		(4)		(7)		—	%	(6)(7)(12)(26)
Subtotal Capital Equipment (4.5%)*					36,143		35,223		33,039
Chemicals, Plastics, & Rubber
Americo Chemical Products, LLC	First Lien Senior Secured Term Loan	SOFR + 5.25%, 8.9% Cash	04/23	04/29	1,893		1,867		1,870		0.3	%	(6)(7)(11)
Americo Chemical Products, LLC	Revolver	SOFR + 5.25%, 8.9% Cash	04/23	04/29	—		(6)		(6)		—	%	(6)(7)(11)(26)
AnalytiChem Holding GmbH	First Lien Senior Secured Term Loan	BBSY + 5.33%, 9.3% Cash	11/21	11/28	883		919		874		0.1	%	(3)(6)(7)(17)
AnalytiChem Holding GmbH	First Lien Senior Secured Term Loan	EURIBOR + 5.33%, 7.5% Cash	11/21	11/28	8,591		8,124		8,505		1.2	%	(3)(6)(7)(10)
AnalytiChem Holding GmbH	First Lien Senior Secured Term Loan	SOFR + 5.33%, 9.7% Cash	11/21	11/28	1,090		1,090		1,079		0.1	%	(3)(6)(7)(12)

Barings Capital Investment Corporation

Unaudited Consolidated Schedule of Investments — (Continued)

March 31, 2026

(Amounts in thousands, except unit/share amounts)


Portfolio Company(5)	Investment Type(1)(2)	Interest	Acq. Date	Maturity Date	Principal Amount		Cost		Fair Value		% of Net Assets *		Notes
G 3 Chickadee Purchaser, LLC	First Lien Senior Secured Term Loan	SOFR + 5.75%, 9.4% Cash	10/25	10/31	$	2,958	$	2,902	$	2,903	0.4	%	(6)(7)(12)
Subtotal Chemicals, Plastics, & Rubber (2.1%)*					15,415		14,896		15,225
Construction & Building
Apex Service Partners, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.4% Cash	11/25	10/30	615		592		595		0.1	%	(6)(7)(12)(26)
Apex Service Partners, LLC	Revolver	SOFR + 4.75%, 8.4% Cash	11/25	10/29	32		32		32		—	%	(6)(7)(12)(26)
BKF Buyer, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.2% Cash	08/24	08/30	3,399		3,367		3,357		0.5	%	(6)(7)(11)
BKF Buyer, Inc.	Revolver	SOFR + 4.50%, 8.2% Cash	08/24	08/30	—		(11)		(16)		—	%	(6)(7)(11)(26)
EMI Porta Holdco LLC	First Lien Senior Secured Term Loan	SOFR + 5.75%, 9.6% PIK	12/21	12/27	7,674		7,620		5,732		0.8	%	(6)(7)(12)(24)
EMI Porta Holdco LLC	Revolver	SOFR + 5.75%, 9.6% PIK	12/21	12/27	407		399		85		—	%	(6)(7)(12)(24)(26)
GMES LLC	First Lien Senior Secured Term Loan	SOFR + 5.25%, 8.9% Cash	09/25	09/31	1,923		1,897		1,900		0.3	%	(6)(7)(12)(26)
GMES LLC	Revolver	SOFR + 5.25%, 8.9% Cash	09/25	09/31	51		48		48		—	%	(6)(7)(12)(26)
Lockmasters Security Intermediate, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.7% Cash	05/25	09/27	1,866		1,855		1,853		0.3	%	(6)(7)(12)(26)
Lockmasters Security Intermediate, Inc.	Revolver	SOFR + 5.00%, 8.7% Cash	05/25	09/27	—		(1)		(1)		—	%	(6)(7)(12)(26)
MNS Buyer, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.8% Cash	08/21	08/27	268		267		268		—	%	(6)(7)(11)
Subtotal Construction & Building (1.9%)*					16,235		16,065		13,853
Consumer goods: Durable
Gojo Industries, Inc.	First Lien Senior Secured Term Loan	SOFR + 8.00%, 11.7% Cash	10/23	10/28	2,282		2,243		2,397		0.3	%	(6)(7)(12)
HTI Technology & Industries	First Lien Senior Secured Term Loan	SOFR + 8.50%, 12.3% Cash	07/22	05/26	5,545		5,541		5,434		0.7	%	(6)(7)(12)(26)
HTI Technology & Industries	Revolver	SOFR + 8.50%, 12.3% Cash	07/22	05/26	—		—		(7)		—	%	(6)(7)(12)(26)
Momentum Textiles, LLC	First Lien Senior Secured Term Loan	SOFR + 5.50%, 9.2% Cash	03/25	03/29	2,198		2,181		2,180		0.3	%	(6)(7)(12)
Momentum Textiles, LLC	Revolver	SOFR + 5.50%, 9.2% Cash	03/25	03/29	—		(2)		(2)		—	%	(6)(7)(12)(26)
Renovation Parent Holdings, LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.8% Cash	11/21	11/27	7,371		7,319		7,371		1.0	%	(6)(7)(12)
Team Air Distributing, LLC	Subordinated Term Loan	12.0% Cash, 2.0% PIK	05/23	05/28	812		803		755		0.1	%	(6)
Terrybear, Inc.	Subordinated Term Loan	14.0% PIK	04/22	04/28	300		297		234		—	%	(6)(24)
Victoria Bidco Limited	First Lien Senior Secured Term Loan	SONIA + 6.50%, 10.2% Cash	03/22	09/30	8,511		8,509		8,187		1.1	%	(3)(6)(7)(15)
Subtotal Consumer goods: Durable (3.6%)*					27,019		26,891		26,549
Consumer goods: Non-durable
Bidwax	First Lien Senior Secured Term Loan	EURIBOR + 6.50%, 8.6% Cash	02/21	02/28	2,420		2,456		2,420		0.3	%	(3)(6)(7)(10)
CCFF Buyer, LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.7% Cash	02/24	02/30	3,500		3,441		3,474		0.5	%	(6)(7)(12)(26)
CCFF Buyer, LLC	Revolver	SOFR + 5.00%, 8.7% Cash	02/24	02/30	—		(8)		(4)		—	%	(6)(7)(12)(26)
David Wood Baking UK Ltd	First Lien Senior Secured Term Loan	SONIA + 10.00%, 14.0% Cash	04/24	04/29	907		861		849		0.1	%	(3)(6)(7)(15)
Herbalife Ltd.	First Lien Senior Secured Term Loan	SOFR + 6.75%, 10.4% Cash	04/24	04/29	3,120		2,971		3,119		0.4	%	(3)(7)(11)
Ice House America, L.L.C.	First Lien Senior Secured Term Loan	SOFR + 6.00%, 9.7% Cash	01/24	01/30	2,140		2,110		2,050		0.3	%	(6)(7)(12)
Ice House America, L.L.C.	Revolver	SOFR + 6.00%, 9.7% Cash	01/24	01/30	189		186		180		—	%	(6)(7)(12)(26)
Modern Star Holdings Bidco Pty Limited	First Lien Senior Secured Term Loan	BBSY + 6.00%, 9.9% Cash	12/20	12/26	2,118		2,229		2,118		0.3	%	(3)(6)(7)(18)(26)
Safety Products Holdings, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.4% Cash	12/20	12/28	5,828		5,813		5,828		0.8	%	(6)(7)(12)
Subtotal Consumer goods: Non-durable (2.7%)*					20,222		20,059		20,034

Barings Capital Investment Corporation

Unaudited Consolidated Schedule of Investments — (Continued)

March 31, 2026

(Amounts in thousands, except unit/share amounts)


Portfolio Company(5)	Investment Type(1)(2)	Interest	Acq. Date	Maturity Date	Principal Amount		Cost		Fair Value		% of Net Assets *		Notes
Containers, Packaging, & Glass
BLI Buyer, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.7% Cash	10/25	10/31	$	1,626	$	1,607	$	1,608	0.2	%	(6)(7)(12)(26)
BLI Buyer, Inc.	Revolver	SOFR + 5.00%, 8.7% Cash	10/25	10/31	100		96		97		—	%	(6)(7)(12)(26)
Diversified Packaging Holdings LLC	Second Lien Senior Secured Term Loan	11.0% Cash, 1.5% PIK	06/24	06/29	1,045		1,030		1,024		0.1	%	(6)(7)
Five Star Holding LLC	Second Lien Senior Secured Term Loan	SOFR + 7.25%, 10.9% Cash	05/22	05/30	7,143		7,058		7,143		1.0	%	(6)(7)(12)
Media Recovery, Inc. (SpotSee)	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.2% Cash	09/24	09/30	1,193		1,184		1,193		0.2	%	(6)(7)(12)
Media Recovery, Inc. (SpotSee)	First Lien Senior Secured Term Loan	SONIA + 4.50%, 8.2% Cash	09/24	09/30	2,396		2,417		2,396		0.3	%	(6)(7)(14)
Media Recovery, Inc. (SpotSee)	Revolver	SOFR + 4.50%, 8.2% Cash	09/24	09/30	—		(3)		—		—	%	(6)(7)(12)(26)
Media Recovery, Inc. (SpotSee)	Revolver	SONIA + 4.50%, 8.2% Cash	09/24	09/30	—		(4)		—		—	%	(6)(7)(14)(26)
MSI Express Inc.	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.4% Cash	03/25	03/31	1,826		1,807		1,806		0.2	%	(6)(7)(11)
MSI Express Inc.	Revolver	SOFR + 3.75%, 7.5% Cash	03/25	03/31	478		471		470		0.1	%	(6)(7)(12)(26)
OG III B.V.	First Lien Senior Secured Term Loan	EURIBOR + 5.75%, 7.9% Cash	06/21	06/28	7,138		7,310		6,788		0.9	%	(3)(6)(7)(9)
Tank Holding Corp	First Lien Senior Secured Term Loan	SOFR + 5.75%, 9.5% Cash	03/22	03/28	7,070		7,007		6,434		0.9	%	(6)(7)(11)
Tank Holding Corp	First Lien Senior Secured Term Loan	SOFR + 6.00%, 9.8% Cash	05/23	03/28	2,000		1,973		1,820		0.2	%	(6)(7)(11)
Tank Holding Corp	Revolver	SOFR + 5.75%, 9.5% Cash	03/22	03/28	—		(5)		(59)		—	%	(6)(7)(11)(26)
Subtotal Containers, Packaging, & Glass (4.2%)*					32,015		31,948		30,720
Energy: Electricity
WWEC Holdings III Corp	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.7% Cash	10/22	10/28	6,353		6,264		6,312		0.9	%	(6)(7)(12)
WWEC Holdings III Corp	Revolver	SOFR + 5.00%, 8.7% Cash	10/22	10/28	—		(7)		(6)		—	%	(6)(7)(12)(26)
Subtotal Energy: Electricity (0.9%)*					6,353		6,257		6,306
Environmental Industries
CTS US Bidco, Inc.	First Lien Senior Secured Term Loan	SOFR + 6.00%, 9.7% Cash	11/25	11/31	474		465		474		0.1	%	(3)(6)(7)(12)
Entact Environmental Services, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.50%, 9.2% Cash	02/21	01/27	3,768		3,759		3,768		0.5	%	(6)(7)(12)
Northstar Recycling, LLC	First Lien Senior Secured Term Loan	SOFR + 4.40%, 8.1% Cash	12/24	12/30	4,258		4,217		4,258		0.6	%	(6)(7)(12)
Northstar Recycling, LLC	Revolver	SOFR + 4.40%, 8.1% Cash	12/24	12/30	—		(7)		—		—	%	(6)(7)(12)(26)
Subtotal Environmental Industries (1.2%)*					8,500		8,434		8,500
Healthcare & Pharmaceuticals
A.T. Holdings II LTD	First Lien Senior Secured Term Loan	10.4% Cash, 3.8% PIK	11/22	09/29	8,480		7,125		4,452		0.6	%	(3)(6)(27)
Amalfi Midco	Second Lien Senior Secured Term Loan	15.5% Cash	09/22	10/28	177		175		184		—	%	(3)(6)
Amalfi Midco	Subordinated Loan Notes	2.0% Cash, 9.0% PIK	09/22	09/28	3,418		2,995		3,503		0.5	%	(3)(6)
Astra Bidco Limited	First Lien Senior Secured Term Loan	EURIBOR + 5.00%, 7.0% Cash	11/21	11/28	343		318		343		—	%	(3)(6)(7)(9)
Astra Bidco Limited	First Lien Senior Secured Term Loan	SONIA + 5.00%, 8.7% Cash	11/21	11/28	1,998		1,981		1,998		0.3	%	(3)(6)(7)(15)
Avance Clinical Bidco Pty Ltd	First Lien Senior Secured Term Loan	BBSY + 4.50%, 8.3% Cash	11/21	11/27	1,244		1,270		1,244		0.2	%	(3)(6)(7)(17)(26)
Canadian Orthodontic Partners Corp.	Super Senior Secured Term Loan	17.0% PIK	04/24	12/26	101		99		275		—	%	(3)(6)(26)
Canadian Orthodontic Partners Corp.	First Lien Senior Secured Term Loan	CORRA + 7.00%, 9.3% PIK	06/21	12/26	2,038		1,782		145		—	%	(3)(6)(7)(23)(24)
Ceres Pharma NV	First Lien Senior Secured Term Loan	EURIBOR + 6.00%, 8.1% Cash	10/21	10/28	3,149		3,019		3,116		0.4	%	(3)(6)(7)(10)
Ceres Pharma NV	First Lien Senior Secured Term Loan	EURIBOR + 6.50%, 8.6% Cash	10/21	10/28	2,738		2,500		2,738		0.4	%	(3)(6)(7)(10)

Barings Capital Investment Corporation

Unaudited Consolidated Schedule of Investments — (Continued)

March 31, 2026

(Amounts in thousands, except unit/share amounts)


Portfolio Company(5)	Investment Type(1)(2)	Interest	Acq. Date	Maturity Date	Principal Amount		Cost		Fair Value		% of Net Assets *		Notes
Coherus Biosciences, Inc.	First Lien Senior Secured Term Loan	SOFR + 8.00%, 11.7% Cash	05/24	05/29	$	1,995	$	1,947	$	1,982	0.3	%	(6)(7)(12)
Dane Street, LLC	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.2% Cash	03/26	03/33	1,485		1,463		1,463		0.2	%	(6)(7)(12)(26)
Dane Street, LLC	Revolver	SOFR + 4.50%, 8.2% Cash	03/26	03/33	—		(4)		(4)		—	%	(6)(7)(12)(26)
EB Development	First Lien Senior Secured Term Loan	EURIBOR + 5.00%, 7.1% Cash	11/24	11/31	2,028		1,797		1,996		0.3	%	(3)(6)(7)(9)(26)
Faraday	First Lien Senior Secured Term Loan	EURIBOR + 5.85%, 8.0% Cash	01/23	01/29	1,755		1,628		1,755		0.2	%	(3)(6)(7)(9)
Finexvet	First Lien Senior Secured Term Loan	EURIBOR + 4.00%, 6.1% Cash, 3.3% PIK	03/22	03/29	5,385		5,076		4,922		0.7	%	(3)(6)(7)(10)
Forest Buyer, LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.7% Cash	03/24	03/30	6,052		5,985		5,768		0.8	%	(6)(7)(12)
Forest Buyer, LLC	Revolver	SOFR + 5.00%, 8.7% Cash	03/24	03/30	—		(5)		(14)		—	%	(6)(7)(12)(26)
GCDL LLC	First Lien Senior Secured Term Loan	SOFR + 6.00%, 9.7% Cash	08/24	08/30	614		608		609		0.1	%	(6)(7)(12)
GCDL LLC	Revolver	SOFR + 6.00%, 9.7% Cash	08/24	08/30	—		(1)		(1)		—	%	(6)(7)(12)(26)
GenesisCare	First Lien Senior Secured Term Loan	BBSY + 4.75%, 8.9% Cash	08/25	08/31	700		634		687		0.1	%	(3)(6)(7)(17)(26)
GPNZ II GmbH	First Lien Senior Secured Term Loan	10.0% PIK	06/22	06/29	531		509		(12)		—	%	(3)(6)(26)
GPNZ II GmbH	First Lien Senior Secured Term Loan	EURIBOR + 6.00%, 7.9% PIK	06/22	06/29	496		444		—		—	%	(3)(6)(7)(8)(24)
Groupe Product Life	First Lien Senior Secured Term Loan	EURIBOR + 5.64%, 7.8% Cash	10/22	10/29	1,130		1,105		1,079		0.1	%	(3)(6)(7)(9)(26)
HeartHealth Bidco Pty Ltd	First Lien Senior Secured Term Loan	BBSY + 5.25%, 9.6% Cash	09/22	09/28	876		818		809		0.1	%	(3)(6)(7)(17)(26)
Heartland Veterinary Partners, LLC	Subordinated Term Loan	11.0% PIK	11/21	12/28	5,740		5,700		5,435		0.7	%	(6)
HemaSource, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.2% Cash	08/23	08/29	3,187		3,136		3,187		0.4	%	(6)(7)(11)
HemaSource, Inc.	Revolver	SOFR + 4.50%, 8.2% Cash	08/23	08/29	34		21		34		—	%	(6)(7)(11)(26)
Home Care Assistance, LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.7% Cash, 1.0% PIK	03/21	09/27	4,504		4,439		3,851		0.5	%	(6)(7)(12)
Jon Bidco Limited	First Lien Senior Secured Term Loan	BKBM + 4.00%, 6.6% Cash	07/25	03/27	2,129		2,521		2,109		0.3	%	(3)(6)(7)(19)(26)
Keystone Bidco B.V.	First Lien Senior Secured Term Loan	EURIBOR + 5.25%, 7.4% Cash	08/24	08/31	914		864		878		0.1	%	(3)(6)(7)(10)(26)
Keystone Bidco B.V.	Revolver	EURIBOR + 5.25%, 7.4% Cash	08/24	05/31	10		9		8		—	%	(3)(6)(7)(10)(26)
Lambir Bidco Limited	First Lien Senior Secured Term Loan	EURIBOR + 6.25%, 8.4% Cash	12/21	12/28	4,327		4,145		4,141		0.6	%	(3)(6)(7)(10)
Lambir Bidco Limited	Second Lien Senior Secured Term Loan	12.0% PIK	12/21	06/29	1,632		1,568		1,487		0.2	%	(3)(6)
Moonlight Bidco Limited	First Lien Senior Secured Term Loan	SONIA + 5.10%, 8.8% Cash	07/23	07/30	2,052		1,993		2,052		0.3	%	(3)(6)(7)(14)(26)
Napa Bidco Pty Ltd	First Lien Senior Secured Term Loan	BBSY + 5.00%, 9.0% Cash	03/22	03/28	7,146		7,438		7,146		1.0	%	(3)(6)(7)(17)
NPM Investments 28 B.V.	First Lien Senior Secured Term Loan	EURIBOR + 5.43%, 7.6% Cash	09/22	10/29	2,347		2,007		2,347		0.3	%	(3)(6)(7)(9)(26)
Ocular Therapeutix, Inc.	First Lien Senior Secured Term Loan	SOFR + 6.75%, 10.4% Cash	08/23	07/29	1,965		1,927		2,389		0.3	%	(3)(6)(7)(11)
Oracle Vision Bidco Limited	First Lien Senior Secured Term Loan	SONIA + 5.20%, 9.2% Cash	06/21	06/28	1,399		1,479		1,296		0.2	%	(3)(6)(7)(15)
Parkview Dental Holdings LLC	First Lien Senior Secured Term Loan	SOFR + 8.30%, 11.8% Cash	10/23	10/29	476		470		474		0.1	%	(6)(7)(11)
Parkview Dental Holdings LLC	First Lien Senior Secured Term Loan	SOFR + 8.25%, 11.8% Cash	10/23	10/29	23		23		23		—	%	(6)(7)(11)
Pepper Bidco Pty Ltd	First Lien Senior Secured Term Loan	BBSY + 4.75%, 8.8% Cash	02/26	02/32	686		688		660		0.1	%	(3)(6)(7)(17)(26)
Sanoptis S.A.R.L.	First Lien Senior Secured Term Loan	EURIBOR + 5.00%, 7.0% Cash	06/22	07/29	3,632		3,367		3,564		0.5	%	(3)(6)(7)(9)(26)
Sanoptis S.A.R.L.	First Lien Senior Secured Term Loan	SARON + 5.00%, 5.0% Cash	06/22	07/29	1,265		1,098		1,249		0.2	%	(3)(6)(7)(20)

Barings Capital Investment Corporation

Unaudited Consolidated Schedule of Investments — (Continued)

March 31, 2026

(Amounts in thousands, except unit/share amounts)


Portfolio Company(5)	Investment Type(1)(2)	Interest	Acq. Date	Maturity Date	Principal Amount		Cost		Fair Value		% of Net Assets *		Notes
SCP CDH Buyer, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.2% Cash	12/25	12/32	$	1,744	$	1,722	$	1,723	0.2	%	(6)(7)(12)(26)
SCP CDH Buyer, Inc.	Revolver	SOFR + 4.50%, 8.2% Cash	12/25	12/32	—		(2)		(2)		—	%	(6)(7)(12)(26)
SCP Medical Products, LLC.	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.4% Cash	06/25	06/31	2,258		2,233		2,237		0.3	%	(6)(7)(12)
SCP Medical Products, LLC.	Revolver	SOFR + 4.75%, 8.4% Cash	06/25	06/31	32		30		30		—	%	(6)(7)(12)(26)
SSCP Pegasus Midco Limited	First Lien Senior Secured Term Loan	SONIA + 5.25%, 9.0% Cash	03/26	12/32	1,259		1,244		1,228		0.2	%	(3)(6)(7)(14)(26)
SSCP Spring Bidco 3 Limited	First Lien Senior Secured Term Loan	SONIA + 6.45%, 10.4% Cash	11/23	08/30	1,010		940		1,004		0.1	%	(3)(6)(7)(15)
Swoop Intermediate III, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.2% Cash	04/25	04/32	1,288		1,280		1,288		0.2	%	(6)(7)(11)(26)
Swoop Intermediate III, Inc.	Revolver	SOFR + 4.50%, 8.2% Cash	04/25	04/32	—		(1)		—		—	%	(6)(7)(11)(26)
TA KHP Aggregator, L.P.	First Lien Senior Secured Term Loan	SOFR + 4.25%, 7.9% Cash	06/25	06/32	685		672		674		0.1	%	(6)(7)(11)(26)
TA KHP Aggregator, L.P.	Revolver	SOFR + 4.25%, 7.9% Cash	06/25	06/32	—		(3)		(2)		—	%	(6)(12)(26)
TA KHP Aggregator, L.P.	Subordinated Term Loan	12.3% PIK	06/25	12/32	796		787		790		0.1	%	(6)
Union Bidco Limited	First Lien Senior Secured Term Loan	SONIA + 4.30%, 8.3% Cash	06/22	06/29	1,046		958		1,046		0.1	%	(3)(6)(7)(15)
Unither (Uniholding)	First Lien Senior Secured Term Loan	EURIBOR + 4.70%, 6.8% Cash	03/23	03/30	2,408		2,203		2,408		0.3	%	(3)(6)(7)(9)(26)
Unosquare, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.4% Cash	06/25	06/31	1,459		1,431		1,376		0.2	%	(6)(7)(11)(26)
Unosquare, LLC	Revolver	SOFR + 4.75%, 8.4% Cash	06/25	06/31	—		(4)		(13)		—	%	(6)(7)(11)(26)
VB Spine Intermediary II LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.7% Cash, 4.4% PIK	03/25	04/30	13,919		13,468		13,474		1.8	%	(6)(7)(12)
Subtotal Healthcare & Pharmaceuticals (14.8%)*					118,105		113,119		108,628
High Tech Industries
Anthracite Buyer, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.2% Cash	12/25	12/32	1,857		1,848		1,849		0.3	%	(6)(7)(11)
Anthracite Buyer, Inc.	Revolver	SOFR + 4.50%, 8.2% Cash	12/25	12/32	—		(3)		(3)		—	%	(6)(7)(11)(26)
Argus Bidco Limited	First Lien Senior Secured Term Loan	EURIBOR + 6.70%, 9.2% Cash	07/22	07/29	1,089		972		993		0.1	%	(3)(6)(7)(10)
Argus Bidco Limited	First Lien Senior Secured Term Loan	SOFR + 6.70%, 7.1% Cash	07/22	07/29	69		68		63		—	%	(3)(6)(7)(13)
Argus Bidco Limited	First Lien Senior Secured Term Loan	SONIA + 6.70%, 10.4% Cash	07/22	07/29	935		834		851		0.1	%	(3)(6)(7)(15)
Argus Bidco Limited	Second Lien Senior Secured Term Loan	10.5% PIK	07/22	07/29	560		494		497		0.1	%	(3)(6)
Bitly, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.4% Cash	11/25	11/31	2,406		2,383		2,385		0.3	%	(6)(7)(11)
Bitly, Inc.	Revolver	SOFR + 4.75%, 8.4% Cash	11/25	11/31	—		(1)		(1)		—	%	(6)(7)(11)(26)
CH Buyer, LLC	First Lien Senior Secured Term Loan	SOFR + 6.25%, 9.9% Cash	05/25	05/31	870		857		864		0.1	%	(6)(7)(12)
CH Buyer, LLC	Revolver	SOFR + 6.25%, 9.9% Cash	05/25	05/31	—		(1)		—		—	%	(6)(7)(12)(26)
Contabo Finco S.À R.L	First Lien Senior Secured Term Loan	EURIBOR + 5.25%, 7.3% Cash	10/22	10/29	1,073		916		1,073		0.1	%	(3)(6)(7)(9)
CW Group Holdings, LLC	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.2% Cash	01/21	01/27	7,698		7,672		7,698		1.1	%	(6)(7)(12)
Discovery Buyer, L.P.	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.7% Cash	02/25	02/32	5,953		5,884		5,900		0.8	%	(6)(7)(12)(26)
Discovery Buyer, L.P.	Revolver	SOFR + 5.00%, 8.7% Cash	02/25	02/32	125		119		120		—	%	(6)(7)(12)(26)
Durare Bidco, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.4% Cash	08/25	08/32	1,638		1,619		1,615		0.2	%	(6)(7)(12)(26)
Durare Bidco, LLC	Revolver	SOFR + 4.75%, 8.4% Cash	08/25	08/32	—		(4)		(5)		—	%	(6)(7)(12)(26)
Dwyer Instruments, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.4% Cash	07/21	07/29	11,071		11,009		11,071		1.5	%	(6)(7)(12)

Barings Capital Investment Corporation

Unaudited Consolidated Schedule of Investments — (Continued)

March 31, 2026

(Amounts in thousands, except unit/share amounts)


Portfolio Company(5)	Investment Type(1)(2)	Interest	Acq. Date	Maturity Date	Principal Amount		Cost		Fair Value		% of Net Assets *		Notes
Eurofins Digital Testing International LUX Holding SARL	First Lien Senior Secured Term Loan	EURIBOR + 6.00%, 8.2% Cash, 1.0% PIK	12/22	12/29	$	457	$	285	$	377	0.1	%	(3)(6)(7)(10)
Eurofins Digital Testing International LUX Holding SARL	First Lien Senior Secured Term Loan	SOFR + 6.43%, 10.1% Cash, 1.0% PIK	12/22	12/29	228		143		188		—	%	(3)(6)(7)(12)
Eurofins Digital Testing International LUX Holding SARL	First Lien Senior Secured Term Loan	SONIA + 6.28%, 10.3% Cash, 1.0% PIK	12/22	12/29	719		434		591		0.1	%	(3)(6)(7)(15)
Eurofins Digital Testing International LUX Holding SARL	Subordinated Term Loan	EURIBOR + 7.00%, 9.2% PIK	10/25	12/29	2,663		975		—		—	%	(3)(6)(7)(9)(24)
Everest Midco Limited	First Lien Senior Secured Term Loan	EURIBOR + 4.75%, 6.9% Cash	01/26	01/33	79		79		78		—	%	(3)(6)(7)(9)
Everest Midco Limited	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.4% Cash	01/26	01/33	673		665		664		0.1	%	(3)(6)(7)(12)(26)
Everest Midco Limited	Revolver	SOFR + 4.75%, 8.4% Cash	01/26	01/33	—		(1)		(1)		—	%	(3)(6)(7)(12)(26)
EZ SMBO Bidco	First Lien Senior Secured Term Loan	CORRA + 5.00%, 7.6% Cash	04/25	04/32	287		286		282		—	%	(3)(6)(7)(23)
EZ SMBO Bidco	First Lien Senior Secured Term Loan	EURIBOR + 5.00%, 7.1% Cash	04/25	04/32	507		473		493		0.1	%	(3)(6)(7)(10)(26)
EZ SMBO Bidco	First Lien Senior Secured Term Loan	EURIBOR + 8.00%, 10.0% PIK	04/25	04/32	157		147		155		—	%	(3)(6)(7)(9)
EZ SMBO Bidco	Subordinated Term Loan	EURIBOR + 8.00%, 10.1% Cash	03/26	04/33	43		43		43		—	%	(3)(6)(7)(9)
FSS Buyer LLC	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.2% Cash	04/25	08/31	6,741		6,741		6,741		0.9	%	(6)(7)(11)
Haystack Holdings LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.4% Cash	01/25	01/28	3,814		3,778		3,786		0.5	%	(6)(7)(13)(26)
Haystack Holdings LLC	Revolver	SOFR + 4.75%, 8.4% Cash	01/25	01/28	—		(3)		(3)		—	%	(6)(7)(13)(26)
Lighthouse Finco SARL	First Lien Senior Secured Term Loan	EURIBOR + 4.75%, 6.7% Cash	02/26	02/33	233		236		231		—	%	(3)(6)(7)(9)
Lighthouse Finco SARL	First Lien Senior Secured Term Loan	SONIA + 4.75%, 8.5% Cash	02/26	02/33	538		543		530		0.1	%	(3)(6)(7)(14)(26)
Maia Bidco Limited	First Lien Senior Secured Term Loan	SOFR + 5.25%, 8.9% Cash	12/25	11/32	1,254		1,233		1,235		0.2	%	(3)(6)(7)(12)
Maia Bidco Limited	First Lien Senior Secured Term Loan	SONIA + 5.25%, 9.0% Cash	12/25	11/32	431		419		414		0.1	%	(3)(6)(7)(14)(26)
Maia Bidco Limited	Revolver	SONIA + 5.25%, 9.0% Cash	12/25	11/32	—		—		(3)		—	%	(3)(6)(7)(14)(26)
NAW Buyer LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.4% Cash	09/23	09/29	3,745		3,674		3,728		0.5	%	(6)(7)(12)(26)
NAW Buyer LLC	Revolver	SOFR + 4.75%, 8.4% Cash	09/23	09/29	—		(5)		(1)		—	%	(6)(7)(12)(26)
NeoxCo	First Lien Senior Secured Term Loan	EURIBOR + 6.50%, 8.8% Cash	01/23	01/30	2,755		2,538		2,755		0.4	%	(3)(6)(7)(10)
Next Holdco, LLC	First Lien Senior Secured Term Loan	SOFR + 5.25%, 8.9% Cash	11/23	11/30	2,209		2,202		2,203		0.3	%	(6)(7)(12)
Next Holdco, LLC	Revolver	SOFR + 5.25%, 8.9% Cash	11/23	11/29	—		(1)		—		—	%	(6)(7)(12)(26)
ORTEC INTERNATIONAL NEWCO B.V.	First Lien Senior Secured Term Loan	EURIBOR + 5.25%, 7.4% Cash	12/23	12/30	1,053		980		1,053		0.1	%	(3)(6)(7)(9)
OSP Hamilton Purchaser, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.4% Cash	12/21	12/29	6,716		6,665		6,666		0.9	%	(6)(7)(12)
OSP Hamilton Purchaser, LLC	Revolver	SOFR + 4.75%, 8.4% Cash	12/21	12/29	218		213		214		—	%	(6)(7)(12)(26)
OSP Lakeside Intermediate Holdings 2, LLC	First Lien Senior Secured Term Loan	SOFR + 5.50%, 9.2% Cash	10/25	10/31	851		839		832		0.1	%	(6)(7)(11)
OSP Lakeside Intermediate Holdings 2, LLC	Revolver	SOFR + 5.50%, 9.2% Cash	10/25	10/31	—		(2)		(3)		—	%	(6)(7)(11)(26)
PDQ.Com Corporation	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.2% Cash	08/21	10/32	12,332		12,245		12,098		1.7	%	(6)(7)(12)
PowerGEM Buyer, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.2% Cash	11/24	11/31	2,748		2,748		2,733		0.4	%	(6)(7)(12)
ProfitOptics, LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.8% Cash	03/22	03/28	1,421		1,411		1,400		0.2	%	(6)(7)(11)

Barings Capital Investment Corporation

Unaudited Consolidated Schedule of Investments — (Continued)

March 31, 2026

(Amounts in thousands, except unit/share amounts)

Portfolio Company(5)

Investment Type(1)(2)

Interest

Acq. Date

Maturity Date

Principal Amount

Cost

Fair
Value

% of Net Assets *

Notes

ProfitOptics, LLC

Revolver

SOFR + 5.00%, 8.8% Cash

03/22

03/28

—

Barings Capital Investment Corp 10-Q