Form: 10-Q

Quarterly report [Sections 13 or 15(d)]

May 12, 2025

Documents











Blue Owl Credit SLF LLC

Supplemental Financial Information (Unaudited) as of and for the period ended March 31, 2025
























Blue Owl Credit SLF LLC
Supplemental Financial Information (Unaudited)

Consolidated Statement of Assets and Liabilities
(Amounts in thousands)

March 31, 2025
December 31, 2024 (1)
Assets
Investments at fair value (amortized cost of $1,556,203 and $1,162,056, respectively) $ 1,542,540  $ 1,164,473 
Cash 231,574  17,354 
Due from investors —  24 
Receivable due on investments sold 15,364  11,365 
Interest receivable 3,589  3,151 
Total Assets $ 1,793,067  $ 1,196,367 
Liabilities
Debt (net of unamortized debt issuance costs of $5,444 and $1,572, respectively) $ 1,123,081  $ 750,610 
Payable for investments purchased 222,106  85,750 
Interest payable 4,236  4,190 
Distribution payable 9,974  6,451 
Accrued expenses and other liabilities 871  555 
Total Liabilities 1,360,268  847,556 
Commitments and contingencies
Members’ Equity
Total Members’ Equity - Class A 432,799  348,811 
Total Members’ Equity - Class B —  — 
Total Members' Equity 432,799  348,811 
Total Liabilities and Members’ Equity $ 1,793,067  $ 1,196,367 

(1) The Company’s date of inception was May 6, 2024.

1
Blue Owl Credit SLF LLC
Supplemental Financial Information (Unaudited)
Consolidated Statement of Operations
(Amounts in thousands)

For the Three Months Ended March 31, 2025
Investment Income
Interest income $ 23,696 
Total investment income 23,696 
Operating Expenses
Interest expense 13,049 
Professional fees 610 
Total Operating Expenses 13,659 
Net Investment Income $ 10,037 
Net Realized and Change in Unrealized Gain (Loss)
Net change in unrealized gain (loss) on investments (16,080)
Net realized gain (loss) on investments (23)
Total Net Realized and Change in Unrealized Gain (Loss) on Investments (16,103)
Net Decrease in Members' Equity Resulting from Operations $ (6,066)
Total Net Decrease in Members’ Equity Resulting from Operations - Class A $ (6,066)


2
Blue Owl Credit SLF LLC
Supplemental Financial Information (Unaudited)
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands)


Company(1)(3)(4) Investment Ref. Rate Cash PIK Maturity Date Par / Units Amortized Cost(2) Fair Value Percentage of Members’ Equity(9)
Debt Investments
Advertising and media
Project Boost Purchaser, LLC (dba J.D. Power)(6) First lien senior secured loan  SR + 3.00  % —  % 07/2031 $ 998  $ 998  $ 991 
998  991  0.2  %
Aerospace and defense
Amentum Government Services Holdings LLC(5) First lien senior secured loan  SR + 2.25  % —  % 09/2031 4,788  4,778  4,620 
American Airlines, Inc.(6) First lien senior secured loan  SR + 1.75  % —  % 01/2027 995  991  985 
American Airlines, Inc.(5) First lien senior secured loan  SR + 2.25  % —  % 02/2028 1,000  997  981 
Arcline FM Holdings LLC(6)(8) First lien senior secured loan  SR + 3.50  % —  % 06/2030 5,890  5,873  5,845 
Avolon TLB Borrower 1 (US) LLC(5) First lien senior secured loan  SR + 1.75  % —  % 06/2030 10,901  10,893  10,887 
Bleriot US Bidco Inc.(6) First lien senior secured loan  SR + 2.75  % —  % 10/2030 23,880  23,881  23,675 
Brown Group Holdings, LLC(5) First lien senior secured loan  SR + 2.50  % —  % 07/2031 997  997  991 
Dynasty Acquisition Co., Inc. (dba StandardAero Limited)(5) First lien senior secured loan  SR + 2.00  % —  % 10/2031 10,474  10,465  10,437 
Kaman Corporation(6) First lien senior secured loan  SR + 2.75  % —  % 02/2032 10,941  10,928  10,786 
KBR, Inc(5) First lien senior secured loan  SR + 2.00  % —  % 01/2031 997  1,001  994 
Signia Aerospace LLC(6) First lien senior secured loan  SR + 3.00  % —  % 12/2031 7,385  7,370  7,329 
Transdigm Inc.(6) First lien senior secured loan  SR + 2.75  % —  % 08/2028 499  499  498 
Transdigm Inc.(6) First lien senior secured loan  SR + 2.50  % —  % 01/2032 9,950  9,929  9,891 
United Airlines, Inc.(6) First lien senior secured loan  SR + 2.00  % —  % 02/2031 997  998  994 
89,600  88,913  20.5  %
Automotive services
Belron Finance US LLC(6) First lien senior secured loan  SR + 2.75  % —  % 10/2031 7,960  7,943  7,935 
Holley Inc.(5) First lien senior secured loan  SR + 3.75  % —  % 11/2028 3,202  3,143  3,067 
Mavis Tire Express Services Topco Corp.(5) First lien senior secured loan  SR + 3.00  % —  % 05/2028 2,867  2,867  2,845 
Mister Car Wash Holdings, Inc.(6) First lien senior secured loan  SR + 2.50  % —  % 03/2031 732  732  728 
VALVOLINE INC(6) First lien senior secured loan  SR + 2.00  % —  % 03/2032 3,419  3,402  3,415 
Wand Newco 3, Inc. (dba Caliber )(5) First lien senior secured loan  SR + 2.50  % —  % 01/2031 4,825  4,825  4,748 
22,912  22,738  5.3  %
Buildings and real estate
American Residential Services, LLC(6) First lien senior secured loan  SR + 3.25  % —  % 02/2032 4,942  4,934  4,918 
ARCOSA INC(5) First lien senior secured loan  SR + 2.25  % —  % 08/2031 2,993  2,993  2,985 
Beacon Roofing Supply Inc(5) First lien senior secured loan  SR + 2.00  % —  % 05/2028 1,995  2,005  1,992 
Construction Partners, Inc.(5) First lien senior secured loan  SR + 2.50  % —  % 11/2031 1,995  1,991  1,981 
CPG International LLC(5)(8) First lien senior secured loan  SR + 2.00  % —  % 09/2031 1,995  1,991  1,995 
Cushman & Wakefield U.S. Borrower, LLC(5) First lien senior secured loan  SR + 3.25  % —  % 01/2030 487  488  486 
EMRLD Borrower LP (dba Emerson Climate Technologies, Inc.)(7) First lien senior secured loan  SR + 2.50  % —  % 05/2030 499  497  493 
Hunter Douglas Inc(6) First lien senior secured loan  SR + 3.25  % —  % 01/2032 2,273  2,263  2,166 
Knife River Corporation(6) First lien senior secured loan  SR + 2.00  % —  % 02/2032 1,337  1,334  1,332 
MIWD Holdco II LLC(5) First lien senior secured loan  SR + 3.00  % —  % 03/2031 499  491  489 
Wrench Group LLC(6) First lien senior secured loan  SR + 4.00  % —  % 10/2028 31,361  31,127  29,714 
QUIKRETE Holdings, Inc.(5) First lien senior secured loan  SR + 2.25  % —  % 03/2029 499  495  493 
Quikrete Holdings, Inc.(5) First lien senior secured loan  SR + 2.25  % —  % 02/2032 7,442  7,428  7,351 
58,037  56,395  13.1  %
Business services
Boxer Parent Company Inc. (f/k/a BMC)(6) First lien senior secured loan  SR + 3.00  % —  % 07/2031 15,000  15,000  14,721 
BrightView Landscapes, LLC(6) First lien senior secured loan  SR + 2.00  % —  % 04/2029 2,500  2,507  2,470 
CCC Intelligent Solutions Inc(5) First lien senior secured loan  SR + 2.00  % —  % 01/2032 765  765  763 
CE Intermediate I, LLC (dba Clubessential)(5)(8) First lien senior secured loan  SR + 3.00  % —  % 02/2032 4,878  4,881  4,878 
3
Blue Owl Credit SLF LLC
Supplemental Financial Information (Unaudited)
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands)
Company(1)(3)(4) Investment Ref. Rate Cash PIK Maturity Date Par / Units Amortized Cost(2) Fair Value Percentage of Members’ Equity(9)
ConnectWise, LLC(6) First lien senior secured loan  SR + 3.50  % —  % 09/2028 16,448  16,477  16,416 
CoolSys, Inc.(7) First lien senior secured loan  SR + 4.75  % —  % 08/2028 14,923  14,722  13,431 
IDEMIA Group SAS(6) First lien senior secured loan  SR + 4.25  % —  % 09/2028 1,995  2,011  2,003 
IGT Holding IV AB (dba IFS)(5)(8) First lien senior secured loan  SR + 3.50  % —  % 04/2032 1,290  1,287  1,287 
Kaseya Inc.(5)(8) First lien senior secured loan  SR + 3.25  % —  % 03/2032 7,349  7,312  7,312 
MKS Instruments, Inc.(5) First lien senior secured loan  SR + 2.00  % —  % 08/2029 249  250  249 
NVENT ELEC PUB LTD CO (dba Nvent Thermal LLC)(5) First lien senior secured loan  SR + 3.50  % —  % 01/2032 14,000  13,934  13,976 
Plano HoldCo, Inc. (dba Perficient)(6)(8) First lien senior secured loan  SR + 3.50  % —  % 10/2031 5,000  4,980  4,975 
POLARIS PURCHASER, INC. (dba Plusgrade)(6)(8) First lien senior secured loan  SR + 3.50  % —  % 03/2031 9,562  9,563  9,539 
Tecta America Corp.(5) First lien senior secured loan  SR + 3.00  % —  % 02/2032 9,588  9,565  9,506 
XPLOR T1, LLC(6)(8) First lien senior secured loan  SR + 3.50  % —  % 06/2031 9,950  9,950  9,950 
VM Consolidated, Inc.(5) First lien senior secured loan  SR + 2.25  % —  % 03/2028 2,053  2,059  2,055 
115,263  113,531  26.3  %
Chemicals
Advancion Holdings, LLC (fka Aruba Investments Holdings, LLC)(5) First lien senior secured loan  SR + 4.00  % —  % 11/2027 17,467  17,475  16,943 
Avient Corporation(6) First lien senior secured loan  SR + 1.75  % —  % 08/2029 4,000  4,022  3,998 
Axalta Coating Systems US Holdings INC(6) First lien senior secured loan  SR + 1.75  % —  % 12/2029 998  1,001  996 
Derby Buyer LLC (dba Delrin)(5) First lien senior secured loan  SR + 3.00  % —  % 11/2030 9,900  9,900  9,816 
Entegris, Inc.(6) First lien senior secured loan  SR + 1.75  % —  % 07/2029 1,000  1,003  998 
Ineos US Finance LLC(5) First lien senior secured loan  SR + 3.25  % —  % 02/2030 3,990  3,910  3,826 
Nouryon Finance B.V.(6) First lien senior secured loan  SR + 3.25  % —  % 04/2028 3,971  3,991  3,956 
Potters(6) First lien senior secured loan  SR + 3.00  % —  % 12/2027 3,491  3,494  3,489 
Windsor Holdings III LLC(5) First lien senior secured loan  SR + 2.75  % —  % 08/2030 1,995  1,991  1,972 
46,787  45,994  10.6  %
Consumer products
ASGN Incorporated(5) First lien senior secured loan  SR + 1.75  % —  % 08/2030 499  504  502 
BEP Intermediate Holdco, LLC (dba Buyers Edge Platform)(5)(8) First lien senior secured loan  SR + 3.25  % —  % 04/2031 997  1,004  997 
Flexera(6) First lien senior secured loan  SR + 3.00  % —  % 03/2028 1,995  2,012  1,983 
Novelis Inc(6) First lien senior secured loan  SR + 2.00  % —  % 02/2032 6,144  6,144  6,137 
9,664  9,619  2.2  %
Containers and packaging
Anchor Packaging, LLC(5) First lien senior secured loan  SR + 3.25  % —  % 07/2029 997  1,002  996 
Berlin Packaging(5) First lien senior secured loan  SR + 3.50  % —  % 06/2031 3,491  3,504  3,477 
Charter NEX US, Inc.(5) First lien senior secured loan  SR + 3.00  % —  % 11/2030 748  750  747 
Clydesdale Acquisition Holdings, Inc. (dba Novolex)(5)(8) First lien senior secured loan  SR + 3.25  % —  % 03/2032 14,269  14,161  14,161 
ProAmpac PG Borrower LLC(6) First lien senior secured loan  SR + 4.00  % —  % 09/2028 997  999  990 
Ring Container Technologies Group, LLC(5) First lien senior secured loan  SR + 2.75  % —  % 08/2028 12,282  12,312  12,255 
SupplyOne, Inc.(5) First lien senior secured loan  SR + 3.75  % —  % 04/2031 1,992  1,997  1,993 
Tricorbraun Holdings, Inc.(5) First lien senior secured loan  SR + 3.25  % —  % 03/2028 15,959  15,926  15,801 
50,651  50,420  11.7  %
Distribution
AI Aqua Merger Sub, Inc. (dba Culligan)(5) First lien senior secured loan  SR + 3.00  % —  % 07/2028 750  746  742 
BCPE Empire Holdings, Inc. (dba Imperial-Dade)(5) First lien senior secured loan  SR + 3.25  % —  % 12/2030 17,955  17,955  17,678 
Dealer Tire Financial, LLC(5)(8) First lien senior secured loan  SR + 3.00  % —  % 07/2031 23,880  23,880  23,761 
Foundation Building Materials, Inc.(6) First lien senior secured loan  SR + 4.00  % —  % 01/2031 9,925  9,823  8,999 
Paint Intermediate III LLC (dba Wesco Group)(6) First lien senior secured loan  SR + 3.00  % —  % 10/2031 12,000  11,944  11,970 
White Cap Supply Holdings, LLC(5) First lien senior secured loan  SR + 3.25  % —  % 10/2029 6,983  6,957  6,758 
71,305  69,908  16.3  %
4
Blue Owl Credit SLF LLC
Supplemental Financial Information (Unaudited)
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands)
Company(1)(3)(4) Investment Ref. Rate Cash PIK Maturity Date Par / Units Amortized Cost(2) Fair Value Percentage of Members’ Equity(9)
Education
Ellucian Holdings Inc. (f/k/a Sophia, L.P.)(5) First lien senior secured loan  SR + 3.00  % —  % 10/2029 12,947  12,947  12,912 
Renaissance Learning, Inc.(5) First lien senior secured loan  SR + 4.00  % —  % 04/2030 2,992  2,938  2,932 
Spring Education Group, Inc. (fka SSH Group Holdings, Inc.)(6) First lien senior secured loan  SR + 4.00  % —  % 10/2030 19,750  19,904  19,697 
35,789  35,541  8.3  %
Energy equipment and services
AZZ Inc.(5) First lien senior secured loan  SR + 2.50  % —  % 05/2029 3,000  3,017  3,001 
Brookfield WEC Holdings Inc.(5) First lien senior secured loan  SR + 2.25  % —  % 01/2031 4,075  4,075  4,035 
Calpine Construction Finance Company(5) First lien senior secured loan  SR + 2.00  % —  % 07/2030 3,000  2,987  2,990 
Calpine Corporation(5) First lien senior secured loan  SR + 1.75  % —  % 01/2031 1,500  1,499  1,494 
Calpine Corporation(5) First lien senior secured loan  SR + 1.75  % —  % 02/2032 4,000  3,987  3,985 
Fleet U.S. Bidco Inc.(6)(8) First lien senior secured loan  SR + 2.75  % —  % 02/2031 8,460  8,462  8,439 
Pike Corp.(5) First lien senior secured loan  SR + 3.00  % —  % 01/2028 4,390  4,420  4,395 
28,447  28,339  6.4  %
Financial services
AllSpring Buyer(6) First lien senior secured loan  SR + 3.00  % —  % 11/2030 1,048  1,046  1,046 
Ascensus Holdings, Inc.(5) First lien senior secured loan  SR + 3.00  % —  % 08/2028 4,016  4,021  3,983 
BCPE Pequod Buyer, Inc. (dba Envestnet)(6) First lien senior secured loan  SR + 3.50  % —  % 11/2031 8,000  7,963  7,969 
Boost Newco Borrower, LLC (dba WorldPay)(6) First lien senior secured loan  SR + 2.00  % —  % 01/2031 1,000  996  992 
Chrysaor Bidco s.à r.l. (dba AlterDomus)(6) First lien senior secured loan  SR + 3.50  % —  % 05/2031 1,393  1,403  1,394 
Citadel Securities, LP(5) First lien senior secured loan  SR + 2.00  % —  % 10/2031 7,253  7,253  7,241 
Citco Funding LLC(7) First lien senior secured loan  SR + 2.75  % —  % 04/2028 1,995  2,006  1,997 
Citrin Cooperman Advisors LLC(5) First lien senior secured loan  SR + 3.00  % —  % 03/2032 5,376  5,349  5,331 
Cohnreznick Advisory LLC(5)(8) First lien senior secured loan  SR + 4.00  % —  % 03/2032 3,449  3,432  3,432 
Deerfield Dakota Holdings(6) First lien senior secured loan  SR + 3.75  % —  % 04/2027 2,992  2,914  2,833 
Focus Financial Partners, LLC(5) First lien senior secured loan  SR + 2.75  % —  % 09/2031 11,045  11,038  10,928 
Grant Thornton Advisors LLC(5) First lien senior secured loan  SR + 2.75  % —  % 06/2031 3,973  3,973  3,949 
Guggenheim Partners Investment Management Holdings, LLC(6) First lien senior secured loan  SR + 2.50  % —  % 11/2031 5,985  5,972  5,961 
Harbourvest Partners, L.P.(6)(8) First lien senior secured loan  SR + 2.25  % —  % 04/2030 997  1,001  997 
Jane Street Group, LLC(6) First lien senior secured loan  SR + 2.00  % —  % 12/2031 6,860  6,842  6,774 
Janus International Group, LLC(6) First lien senior secured loan  SR + 2.50  % —  % 08/2030 3,357  3,366  3,340 
MARINER WEALTH ADVISORS, LLC(6) First lien senior secured loan  SR + 2.50  % —  % 08/2028 1,990  1,990  1,982 
OneDigital Borrower LLC(5) First lien senior secured loan  SR + 3.00  % —  % 07/2031 997  997  990 
Orion Advisor Solutions Inc(6) First lien senior secured loan  SR + 3.75  % —  % 09/2030 6,419  6,376  6,411 
Pushpay USA Inc(6)(8) First lien senior secured loan  SR + 4.00  % —  % 08/2031 5,843  5,844  5,843 
Saphilux S.a.r.L. (dba IQ-EQ)(7) First lien senior secured loan  SR + 3.50  % —  % 07/2028 15,880  15,931  15,880 
TMF Sapphire Bidco B.V.(6) First lien senior secured loan  SR + 2.75  % —  % 05/2028 2,993  2,989  2,968 
102,702  102,241  23.7  %
Food and beverage
1011778 BC / NEW RED FIN (dba Restaurant Brands)(5) First lien senior secured loan  SR + 1.75  % —  % 09/2030 997  994  986 
Aramark Services, Inc.(5) First lien senior secured loan  SR + 2.00  % —  % 06/2030 6,140  6,140  6,130 
Aspire Bakeries Holdings, LLC(5) First lien senior secured loan  SR + 4.25  % —  % 12/2030 4,229  4,213  4,229 
Balrog Acquisition, Inc. (dba Bakemark)(5) First lien senior secured loan  SR + 4.00  % —  % 09/2028 24,188  24,257  24,127 
Fiesta Purchaser, Inc. (dba Shearer's Foods)(5) First lien senior secured loan  SR + 3.25  % —  % 02/2031 7,891  7,891  7,827 
FRONERI US INC(6) First lien senior secured loan  SR + 2.00  % —  % 09/2031 4,000  3,991  3,970 
IRB Holding Corporation(5) First lien senior secured loan  SR + 2.50  % —  % 12/2027 998  997  991 
Pegasus BidCo B.V.(6)(8) First lien senior secured loan  SR + 3.25  % —  % 07/2029 2,494  2,499  2,488 
Red SPV, LLC(5)(8) First lien senior secured loan  SR + 2.25  % —  % 03/2032 9,524  9,476  9,452 
Savor Acquisition, Inc. (dba Sauer Brands)(5) First lien senior secured loan  SR + 3.25  % —  % 02/2032 2,515  2,510  2,512 
Simply Good Foods USA, Inc.(5) First lien senior secured loan  SR + 2.00  % —  % 03/2027 3,778  3,812  3,789 
5
Blue Owl Credit SLF LLC
Supplemental Financial Information (Unaudited)
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands)
Company(1)(3)(4) Investment Ref. Rate Cash PIK Maturity Date Par / Units Amortized Cost(2) Fair Value Percentage of Members’ Equity(9)
Utz Quality Foods, LLC(5) First lien senior secured loan  SR + 2.50  % —  % 01/2032 2,550  2,550  2,541 
Whatabrands LLC (dba Whataburger Restaurants LLC)(5) First lien senior secured loan  SR + 2.50  % —  % 08/2028 748  749  744 
70,079  69,786  16.2  %
Healthcare equipment and services
Agiliti Health(6) First lien senior secured loan  SR + 3.00  % —  % 05/2030 997  967  938 
Azalea TopCo, Inc. (dba Press Ganey)(5) First lien senior secured loan  SR + 3.25  % —  % 04/2031 997  997  992 
Confluent Medical Technologies, Inc.(6)(8) First lien senior secured loan  SR + 3.25  % —  % 02/2029 9,788  9,851  9,763 
Curium BidCo S.A.R.L (dba Curium Pharma)(6) First lien senior secured loan  SR + 3.50  % —  % 07/2029 997  1,002  994 
Medline Borrower, LP(5) First lien senior secured loan  SR + 2.25  % —  % 10/2028 20,099  20,099  20,053 
Nexstar Broadcasting, Inc.(5) First lien senior secured loan  SR + 2.50  % —  % 09/2026 1,000  1,003  998 
Zest Acquisition Corp.(6) First lien senior secured loan  SR + 5.25  % —  % 02/2028 997  1,005  999 
Resonetics, LLC(6) First lien senior secured loan  SR + 3.25  % —  % 06/2031 19,900  19,900  19,767 
54,824  54,504  12.5  %
Healthcare providers and services
CHG Healthcare Services, Inc.(6) First lien senior secured loan  SR + 3.00  % —  % 09/2028 3,240  3,241  3,234 
CHG PPC Parent LLC(5)(8) First lien senior secured loan  SR + 3.00  % —  % 12/2028 3,725  3,707  3,715 
Concentra(5)(8) First lien senior secured loan  SR + 2.00  % —  % 07/2031 1,000  1,005  998 
Confluent Health, LLC(5)(8) First lien senior secured loan  SR + 4.00  % —  % 11/2028 23,601  23,231  22,185 
Covetrus, Inc.(6) First lien senior secured loan  SR + 5.00  % —  % 10/2029 16,025  15,330  15,374 
Electron Bidco Inc (dba ExamWorks)(5) First lien senior secured loan  SR + 2.75  % —  % 11/2028 2,000  2,000  1,995 
HAH Group Holding Company LLC (dba Help at Home)(5) First lien senior secured loan  SR + 5.00  % —  % 09/2031 5,985  5,902  5,670 
Inizio Group Limited (dba UDG Healthcare)(6)(8) First lien senior secured loan  SR + 4.25  % —  % 08/2028 500  483  479 
LSCS Holdings, Inc.(6) First lien senior secured loan  SR + 4.50  % —  % 02/2032 12,996  12,931  12,956 
Pacific Dental Services, LLC(5) First lien senior secured loan  SR + 2.75  % —  % 03/2031 3,409  3,392  3,385 
Phoenix Guarantor Inc(5) First lien senior secured loan  SR + 2.50  % —  % 02/2031 748  748  745 
Phoenix Newco, Inc. (dba Parexel)(5)(8) First lien senior secured loan  SR + 2.50  % —  % 11/2028 23,878  23,874  23,811 
Radnet Management, Inc.(6) First lien senior secured loan  SR + 2.25  % —  % 04/2031 1,002  1,006  999 
Select Medical Corp.(5) First lien senior secured loan  SR + 2.00  % —  % 12/2031 3,990  3,987  3,980 
Soliant Lower Intermediate, LLC (dba Soliant)(7) First lien senior secured loan  SR + 3.75  % —  % 07/2031 9,975  10,051  9,764 
WCG Intermediate Corp. (f/k/a Da Vinci Purchaser Corp.) (dba WCG)(5) First lien senior secured loan  SR + 3.00  % —  % 02/2032 7,495  7,460  7,412 
118,348  116,702  27.0  %
Healthcare technology
Athenahealth Group Inc.(5) First lien senior secured loan  SR + 3.00  % —  % 02/2029 12,397  12,392  12,222 
Bracket Intermediate Holding Corp.(6) First lien senior secured loan  SR + 4.25  % —  % 05/2028 19,651  19,651  19,700 
Certara(6)(8) First lien senior secured loan  SR + 3.00  % —  % 06/2031 499  501  497 
Cotiviti, Inc.(5) First lien senior secured loan  SR + 2.75  % —  % 03/2032 4,463  4,418  4,357 
Cotiviti, Inc.(5)(8) First lien senior secured loan  SR + 2.75  % —  % 05/2031 12,683  12,648  12,398 
Ensemble RCM, LLC(6) First lien senior secured loan  SR + 3.00  % —  % 08/2029 4,962  4,983  4,954 
Imprivata, Inc.(6) First lien senior secured loan  SR + 3.50  % —  % 12/2027 18,456  18,554  18,430 
IQVIA, Inc.(6) First lien senior secured loan  SR + 1.75  % —  % 01/2031 998  1,000  997 
PointClickCare Technologies, Inc.(6) First lien senior secured loan  SR + 3.25  % —  % 11/2031 3,990  3,977  3,977 
Project Ruby Ultimate Parent Corp. (dba Wellsky)(5) First lien senior secured loan  SR + 3.00  % —  % 03/2028 17,930  17,905  17,858 
Raven Acquisition Holdings, LLC (dba R1 RCM)(5) First lien senior secured loan  SR + 3.25  % —  % 11/2031 11,200  11,151  11,056 
Southern Veterinary Partners, LLC(5) First lien senior secured loan  SR + 3.25  % —  % 12/2031 20,000  19,913  19,932 
Zelis Cost Management Buyer, Inc.(5) First lien senior secured loan  SR + 3.25  % —  % 11/2031 15,960  15,890  15,906 
Waystar Technologies, Inc. (F/K/A Navicure, Inc.)(5) First lien senior secured loan  SR + 2.25  % —  % 10/2029 249  249  248 
143,232  142,532  33.0  %
6
Blue Owl Credit SLF LLC
Supplemental Financial Information (Unaudited)
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands)
Company(1)(3)(4) Investment Ref. Rate Cash PIK Maturity Date Par / Units Amortized Cost(2) Fair Value Percentage of Members’ Equity(9)
Household products
Samsonite International S.A.(5) First lien senior secured loan  SR + 2.00  % —  % 06/2030 1,995  2,005  1,995 
2,005  1,995  0.5  %
Human resource support services
AQ Carver Buyer, Inc. (dba CoAdvantage)(7) First lien senior secured loan  SR + 5.50  % —  % 08/2029 1,995  2,002  1,973 
iSolved, Inc.(5) First lien senior secured loan  SR + 3.25  % —  % 10/2030 6,454  6,456  6,452 
UKG Inc. (dba Ultimate Software)(6) First lien senior secured loan  SR + 3.00  % —  % 02/2031 748  749  746 
9,207  9,171  2.2  %
Infrastructure and environmental services
Geosyntec Consultants, Inc.(5) First lien senior secured loan  SR + 3.75  % —  % 07/2031 7,980  7,969  7,960 
GFL Environmental Services Inc.(6) First lien senior secured loan  SR + 2.50  % —  % 03/2032 4,955  4,955  4,900 
12,924  12,860  2.9  %
Insurance
Acrisure, LLC(5) First lien senior secured loan  SR + 3.00  % —  % 11/2030 8,946  8,946  8,875 
AmWINS Group, Inc.(5) First lien senior secured loan  SR + 2.25  % —  % 01/2032 12,098  12,087  11,992 
Ardonagh Midco 3 PLC(7) First lien senior secured loan  SR + 2.75  % —  % 02/2031 15,000  14,999  14,795 
AssuredPartners, Inc.(5) First lien senior secured loan  SR + 3.50  % —  % 02/2031 12,885  12,914  12,891 
Asurion, LLC(5) First lien senior secured loan  SR + 4.25  % —  % 08/2028 7,772  7,746  7,692 
Broadstreet Partners, Inc.(5) First lien senior secured loan  SR + 3.00  % —  % 06/2031 6,312  6,312  6,252 
Hub International(6) First lien senior secured loan  SR + 2.50  % —  % 06/2030 4,096  4,096  4,076 
Hyperion Refinance S.à r.l (dba Howden Group)(5) First lien senior secured loan  SR + 3.50  % —  % 04/2030 19,600  19,687  19,571 
Hyperion Refinance S.à r.l (dba Howden Group)(5) First lien senior secured loan  SR + 3.00  % —  % 02/2031 4,950  4,950  4,910 
IMA Financial Group, Inc.(5) First lien senior secured loan  SR + 3.00  % —  % 11/2028 997  999  991 
Mitchell International, Inc.(5) First lien senior secured loan  SR + 3.25  % —  % 06/2031 9,950  9,903  9,822 
Ryan Specialty Group LLC(5) First lien senior secured loan  SR + 2.25  % —  % 09/2031 249  250  248 
Summit Acquisition Inc. (dba K2 Insurance Services)(5)(8) First lien senior secured loan  SR + 3.75  % —  % 10/2031 2,000  1,991  2,000 
USI, Inc.(6) First lien senior secured loan  SR + 2.25  % —  % 09/2030 1,332  1,332  1,318 
106,212  105,433  24.4  %
Internet software and services
Applied Systems, Inc.(6) First lien senior secured loan  SR + 2.75  % —  % 02/2031 3,292  3,301  3,289 
Avalara, Inc.(5) First lien senior secured loan  SR + 3.25  % —  % 03/2032 7,362  7,325  7,327 
Cloud Software Group, Inc.(6) First lien senior secured loan  SR + 3.75  % —  % 03/2031 4,988  4,988  4,934 
Clover Holdings 2, LLC (dba Cohesity)(6) First lien senior secured loan  SR + 4.00  % —  % 12/2031 17,143  16,985  16,929 
Dayforce Inc(6)(8) First lien senior secured loan  SR + 2.50  % —  % 03/2031 1,995  1,996  1,985 
Delta TopCo, Inc. (dba Infoblox, Inc.)(6) First lien senior secured loan  SR + 2.75  % —  % 12/2029 8,324  8,324  8,224 
Epicor(5) First lien senior secured loan  SR + 2.75  % —  % 05/2031 748  751  746 
Gen Digital Inc(6) First lien senior secured loan  SR + 1.75  % —  % 02/2032 3,324  3,308  3,289 
Genesys Cloud Services, Inc.(5) First lien senior secured loan  SR + 2.50  % —  % 01/2032 7,697  7,681  7,606 
Informatica LLC(5) First lien senior secured loan  SR + 3.25  % —  % 10/2028 499  499  498 
Javelin Buyer, Inc. (dba JAGGAER)(6) First lien senior secured loan  SR + 3.25  % —  % 10/2031 3,001  2,994  2,982 
McAfee Corp.(5) First lien senior secured loan  SR + 3.00  % —  % 03/2029 4,277  4,256  4,075 
MeridianLink, Inc.(6) First lien senior secured loan  SR + 2.75  % —  % 11/2028 1,995  2,008  1,998 
Project Alpha Intermediate Holding, Inc. (dba Qlik)(6) First lien senior secured loan  SR + 3.25  % —  % 10/2030 7,107  7,089  7,087 
Proofpoint, Inc.(5) First lien senior secured loan  SR + 3.00  % —  % 08/2028 13,865  13,862  13,808 
Quartz Acquireco, LLC (dba Qualtrics)(5)(8) First lien senior secured loan  SR + 2.25  % —  % 06/2030 499  497  495 
Sedgwick Claims Management Services, Inc.(6) First lien senior secured loan  SR + 3.00  % —  % 07/2031 14,925  14,953  14,870 
SONICWALL US Holdings, Inc.(6) First lien senior secured loan  SR + 5.00  % —  % 05/2028 1,995  1,995  1,960 
Sophos Holdings, LLC(5) First lien senior secured loan  SR + 3.50  % —  % 03/2027 10,971  10,966  10,964 
SS&C(5) First lien senior secured loan  SR + 2.00  % —  % 05/2031 1,957  1,961  1,955 
Starlight Parent, LLC (dba SolarWinds)(5) First lien senior secured loan  SR + 4.00  % —  % 03/2032 10,097  9,794  9,788 
Storable, Inc.(5) First lien senior secured loan  SR + 3.25  % —  % 04/2031 14,885  14,885  14,787 
7
Blue Owl Credit SLF LLC
Supplemental Financial Information (Unaudited)
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands)
Company(1)(3)(4) Investment Ref. Rate Cash PIK Maturity Date Par / Units Amortized Cost(2) Fair Value Percentage of Members’ Equity(9)
The Dun & Bradstreet Corporation(5) First lien senior secured loan  SR + 2.25  % —  % 01/2029 7,960  7,960  7,938 
UST Holdings, Ltd.(5) First lien senior secured loan  SR + 3.00  % —  % 11/2028 5,974  5,988  5,984 
Vertiv Group Corp.(6) First lien senior secured loan  SR + 4.00  % —  % 11/2030 7,980  7,980  7,926 
Vertiv Group Corp.(5) First lien senior secured loan  SR + 1.75  % —  % 03/2027 499  499  497 
VIRTUSA CORPORATION(5) First lien senior secured loan  SR + 3.25  % —  % 02/2029 2,390  2,400  2,384 
VS Buyer LLC (dba Veeam Software)(5) First lien senior secured loan  SR + 2.75  % —  % 04/2031 5,960  5,960  5,953 
Webpros Luxembourg Sarl(5) First lien senior secured loan  SR + 3.75  % —  % 03/2031 499  502  499 
171,707  170,777  39.6  %
Investment funds and vehicles
Grosvenor(5) First lien senior secured loan  SR + 2.25  % —  % 02/2030 249  250  249 
250  249  0.1  %
Leisure and entertainment
Delta 2 (Lux) SARL (dba Formula One)(6) First lien senior secured loan  SR + 2.00  % —  % 09/2031 1,000  1,003  997 
GBT US III LLC (dba Global Business Travel Group, Inc.)(6) First lien senior secured loan  SR + 2.50  % —  % 07/2031 748  747  744 
Pretzel Parent, Inc.(5) First lien senior secured loan  SR + 4.50  % —  % 08/2031 3,000  2,958  2,996 
WMG Acquisition Corp(6) First lien senior secured loan  SR + 1.75  % —  % 01/2031 1,000  1,002  996 
5,710  5,733  1.3  %
Manufacturing
ALLIANCE LAUNDRY SYSTEMS LLC(6) First lien senior secured loan  SR + 2.75  % —  % 08/2031 8,500  8,502  8,464 
Altar Bidco, Inc.(5) First lien senior secured loan  SR + 3.10  % —  % 02/2029 997  993  983 
Chariot Buyer LLC (dba Chamberlain Group)(5) First lien senior secured loan  SR + 3.25  % —  % 11/2028 5,972  5,972  5,911 
Columbus McKinnon Corp.(6)(8) First lien senior secured loan  SR + 2.50  % —  % 05/2028 989  991  986 
Crown Equipment Corporation(5) First lien senior secured loan  SR + 2.50  % —  % 10/2031 2,591  2,579  2,581 
DXP Enterprises, Inc.(5) First lien senior secured loan  SR + 3.75  % —  % 10/2030 5,970  5,970  5,950 
Engineered Machinery Holdings, Inc. (dba Duravant)(6) First lien senior secured loan  SR + 3.75  % —  % 05/2028 23,877  23,998  23,862 
Filtration Group Corporation(5) First lien senior secured loan  SR + 3.00  % —  % 10/2028 1,000  1,005  998 
Gates Global LLC(5) First lien senior secured loan  SR + 1.75  % —  % 11/2029 997  994  987 
Gloves Buyer, Inc. (dba Protective Industrial Products)(5)(8) First lien senior secured loan  SR + 4.00  % —  % 12/2027 14,538  14,528  14,538 
Gloves Buyer, Inc. (dba Protective Industrial Products)(5) First lien senior secured loan  SR + 4.00  % —  % 01/2032 14,000  13,930  13,440 
Legence Holdings LLC(5) First lien senior secured loan  SR + 3.25  % —  % 12/2028 6,693  6,693  6,626 
Madison IAQ, LLC(6) First lien senior secured loan  SR + 2.50  % —  % 06/2028 250  247  247 
Madison IAQ, LLC(5)(8) First lien senior secured loan  SR + 3.25  % —  % 03/2032 7,752  7,675  7,675 
Madison Safety & Flow LLC(5) First lien senior secured loan  SR + 2.75  % —  % 09/2031 2,490  2,490  2,485 
Pro Mach Group, Inc.(5) First lien senior secured loan  SR + 2.75  % —  % 08/2028 15,960  15,960  15,907 
Zekelman Industries Inc. (dba Zekelman Industries)(5) First lien senior secured loan  SR + 2.25  % —  % 01/2031 997  1,000  998 
Watlow Electric Manufacturing Company(5) First lien senior secured loan  SR + 3.00  % —  % 03/2028 1,994  2,002  1,991 
115,529  114,629  26.6  %
Pharmaceuticals
Fortrea Holdings Inc.(5) First lien senior secured loan  SR + 3.75  % —  % 07/2030 1,000  981  933 
Opal US LLC(5)(8) First lien senior secured loan  SR + 3.50  % —  % 03/2032 15,976  15,896  15,896 
16,877  16,829  3.9  %
Professional Services
AlixPartners, LLP(5) First lien senior secured loan  SR + 2.50  % —  % 02/2028 499  500  498 
Apex Group Treasury LLC(6) First lien senior secured loan  SR + 3.50  % —  % 02/2032 23,938  23,937  23,833 
API GROUP DE INC(5) First lien senior secured loan  SR + 1.75  % —  % 01/2029 3,840  3,840  3,825 
Arsenal AIC Parent, LLC (dba Arconic)(5) First lien senior secured loan  SR + 2.75  % —  % 08/2030 499  502  494 
Camelot U.S. Acquisition 1 Co.(5) First lien senior secured loan  SR + 2.75  % —  % 01/2031 2,000  2,007  1,972 
Clearwater Analytics, LLC(6)(8) First lien senior secured loan  SR + 2.25  % —  % 02/2032 4,119  4,119  4,099 
Corporation Service Company(5) First lien senior secured loan  SR + 2.00  % —  % 11/2029 5,604  5,604  5,569 
Element Materials Technology(6) First lien senior secured loan  SR + 3.75  % —  % 06/2029 997  1,002  994 
8
Blue Owl Credit SLF LLC
Supplemental Financial Information (Unaudited)
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands)
Company(1)(3)(4) Investment Ref. Rate Cash PIK Maturity Date Par / Units Amortized Cost(2) Fair Value Percentage of Members’ Equity(9)
First Advantage Holdings LLC(5) First lien senior secured loan  SR + 3.25  % —  % 10/2031 3,990  3,972  3,962 
Red Ventures, LLC(5) First lien senior secured loan  SR + 2.75  % —  % 03/2030 499  502  489 
Skopima Merger Sub Inc.(5) First lien senior secured loan  SR + 3.75  % —  % 05/2028 7,015  7,015  6,957 
Vistage International, Inc.(6) First lien senior secured loan  SR + 3.75  % —  % 07/2029 9,873  9,873  9,849 
62,873  62,541  14.4  %
Telecommunications
Charter Communications Operating LLC(6) First lien senior secured loan  SR + 2.25  % —  % 12/2031 7,980  7,962  7,948 
Eagle Broadband Investments, LLC (dba Mega Broadband Investments)(6) First lien senior secured loan  SR + 3.00  % —  % 11/2027 4,215  4,217  4,196 
12,179  12,144  2.8  %
Transportation
AIT Worldwide Logistics Holdings, Inc.(6) First lien senior secured loan  SR + 4.00  % —  % 04/2030 7,980  7,979  7,962 
Echo Global Logistics, Inc.(5) First lien senior secured loan  SR + 3.75  % —  % 11/2028 1,995  1,975  1,955 
Genesee & Wyoming Inc.(6) First lien senior secured loan  SR + 1.75  % —  % 04/2031 499  496  494 
KKR Apple Bidco, LLC(5) First lien senior secured loan  SR + 2.50  % —  % 09/2031 8,045  8,026  7,978 
NA Rail Hold Co. LLC(6) First lien senior secured loan  SR + 3.00  % —  % 02/2032 3,636  3,627  3,636 
22,103  22,025  5.0  %
Total Misc.-debt commitments(10) (11) —  —  %
Total Debt Investments 1,556,203  1,542,540  357.0  %
Total Investments 1,556,203  1,542,540  357.0  %

(1) Unless otherwise indicated, Blue Owl Credit SLF’s investments are pledged as collateral supporting the amounts outstanding under Blue Owl Credit SLF’s Debt Facilities.
(2) The amortized cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on debt investments using the effective interest method.
(3) Unless otherwise indicated, all investments are considered Level 2 investments.
(4) Unless otherwise indicated, loan contains a variable rate structure, which may be subject to an interest rate floor. Variable rate loans bear interest at a rate that may be determined by reference to Secured Overnight Financing Rate (“SOFR” or “SR”) (which can include one-, three-, six- or twelve-month SOFR), at the borrower’s option, and which reset periodically based on the terms of the loan agreement.
(5) The interest rate on these loans is subject to 1 month SOFR, which as of March 31, 2025 was 4.32%.
(6) The interest rate on these loans is subject to 3 month SOFR, which as of March 31, 2025 was 4.29%.
(7) The interest rate on these loans is subject to 6 month SOFR, which as of March 31, 2025 was 4.19%
(8) Level 3 investment.
(9) Totals presented may differ than actuals due to rounding.
(10) Position or portion thereof is an unfunded loan commitment. See below for more information on the Company’s unfunded commitments.

















9
Blue Owl Credit SLF LLC
Supplemental Financial Information (Unaudited)
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands)




Unfunded Commitments as of March 31, 2025:
Unfunded
Portfolio Company Commitment Type Commitment Expiration Date Funded
Commitment		 Commitment Fair Value
Chrysaor Bidco s.à r.l. (dba AlterDomus) First lien senior secured delayed draw term loan 05/2026 $ —  $ 103  — 
Citrin Cooperman Advisors LLC First lien senior secured delayed draw term loan 03/2027 —  347  — 
Clydesdale Acquisition Holdings, Inc. (dba Novolex) First lien senior secured delayed draw term loan 12/2025 —  249  — 
Cohnreznick Advisory LLC First lien senior secured delayed draw term loan 03/2027 —  798  — 
Delta 2 Lux Sarl First lien senior secured delayed draw term loan 07/2025 —  500  — 
Grant Thornton Advisors LLC First lien senior secured delayed draw term loan 07/2026 —  217  — 
Kaman Corporation First lien senior secured delayed draw term loan 01/2027 —  1,032  — 
Raven Acquisition Holdings, LLC (dba R1 RCM) First lien senior secured delayed draw term loan 10/2026 —  800  — 
Savor Acquisition, Inc. (dba Sauer Brands) First lien senior secured delayed draw term loan 02/2027 —  237  — 
Signia Aerospace LLC First lien senior secured delayed draw term loan 11/2026 —  615  — 
Total Portfolio Company Commitments $ —  $ 4,898  $ — 
10
Blue Owl Credit SLF LLC
Consolidated Schedule of Investments
As of December 31, 2024
(Amounts in thousands)

Company(1)(3)(4) Investment Interest Maturity Date Par / Units Amortized Cost(2) Fair Value Percentage of Members’ Equity(9)
Debt Investments
Aerospace and defense            
Amentum Holdings, Inc.(5) First lien senior secured loan SR + 2.25% 09/2031 $ 6,000  $ 5,986  $ 5,975  1.7  %
Avolon TLB Borrower 1 (US) LLC(5) First lien senior secured loan SR + 1.75% 06/2030 10,928  10,916  10,916  3.1  %
Bleriot US Bidco Inc.(6) First lien senior secured loan SR + 2.75% 10/2030 23,940  23,940  24,048  6.9  %
Dynasty Acquisition Co., Inc. (dba StandardAero Limited)(5) First lien senior secured loan SR + 2.25% 10/2031 10,500  10,487  10,540  3.0  %
Signia Aerospace LLC(6)(8) First lien senior secured loan SR + 3.00% 11/2031 7,385  7,366  7,366  2.1  %
Transdigm, Inc.(6) First lien senior secured loan SR + 2.50% 01/2032 9,975  9,951  9,991  2.9  %
68,646  68,836  19.7  %
Automotive services            
Belron Finance US LLC(6) First lien senior secured loan SR + 2.75% 10/2031 7,980  7,960  8,045  2.3  %
Holley Inc.(5) First lien senior secured loan SR + 3.75% 11/2028 3,211  3,148  3,140  0.9  %
Mavis Tire Express Services Topco Corp.(5) First lien senior secured loan SR + 3.50% 05/2028 2,867  2,878  2,883  0.8  %
Wand Newco 3, Inc. (dba Caliber )(5) First lien senior secured loan SR + 3.25% 01/2031 4,883  4,895  4,898  1.4  %
18,881  18,966  5.4  %
Buildings and real estate            
Arcosa Inc(5) First lien senior secured loan SR + 2.25% 08/2031 3,000  3,000  3,021  0.9  %
Construction Partners, Inc.(5) First lien senior secured loan SR + 2.50% 11/2031 2,000  1,995  2,006  0.6  %
The Azek Group LLC(5)(8) First lien senior secured loan SR + 2.00% 09/2031 1,995  1,990  2,000  0.6  %
Wrench Group LLC(6) First lien senior secured loan SR + 4.00% 10/2028 31,440  31,144  30,104  8.6  %
38,129  37,131  10.7  %
Business services            
Boxer Parent Company Inc. (f/k/a BMC)(6) First lien senior secured loan SR + 3.75% 07/2031 15,000  14,990  15,111  4.3  %
ConnectWise, LLC(6) First lien senior secured loan SR + 3.50% 09/2028 16,490  16,521  16,573  4.8  %
CoolSys, Inc.(6)(8) First lien senior secured loan SR + 4.75% 08/2028 14,961  14,742  14,550  4.2  %
Madison Safety & Flow LLC(5) First lien senior secured loan SR + 3.25% 09/2031 1,995  1,990  2,008  0.6  %
Nvent Electric Public Limited Company(6) First lien senior secured loan SR + 3.50% 09/2031 14,000  13,930  14,136  4.1  %
Plano HoldCo, Inc.(6)(8) First lien senior secured loan SR + 3.50% 10/2031 4,500  4,478  4,534  1.3  %
POLARIS PURCHASER, INC. (dba Plusgrade)(6)(8) First lien senior secured loan SR + 4.00% 03/2031 10,154  10,174  10,204  2.9  %
XPLOR T1, LLC(6)(8) First lien senior secured loan SR + 3.50% 06/2031 9,975  9,975  10,050  2.9  %
86,800  87,166  25.1  %
Chemicals            
Advancion Holdings, LLC (fka Aruba Investments Holdings, LLC)(5) First lien senior secured loan SR + 4.00% 11/2027 17,512  17,523  17,512  5.0  %
Derby Buyer LLC (dba Delrin)(5) First lien senior secured loan SR + 3.00% 11/2030 9,925  9,925  9,950  2.9  %
27,448  27,462  7.9  %
Containers and packaging            
Ring Container Technologies Group, LLC(5) First lien senior secured loan SR + 2.75% 08/2028 12,313  12,345  12,332  3.5  %
SupplyOne, Inc.(5) First lien senior secured loan SR + 3.75% 04/2031 997  997  1,004  0.3  %
Tricorbraun Holdings, Inc.(5) First lien senior secured loan SR + 3.25% 03/2028 15,959  15,919  15,933  4.6  %
29,261  29,269  8.4  %
Distribution            
BCPE Empire Holdings, Inc. (dba Imperial-Dade)(5) First lien senior secured loan SR + 3.50% 12/2028 18,000  18,000  18,076  5.2  %
Dealer Tire Financial, LLC(5) First lien senior secured loan SR + 3.50% 07/2031 23,940  23,940  23,940  6.9  %
Foundation Building Materials, Inc.(6) First lien senior secured loan SR + 4.00% 01/2031 9,950  9,842  9,780  2.8  %
Paint Intermediate III, LLC(6) First lien senior secured loan SR + 3.00% 09/2031 12,000  11,942  12,046  3.5  %
White Cap Supply Holdings, LLC(5) First lien senior secured loan SR + 3.25% 10/2029 7,000  6,971  7,006  2.0  %
70,695  70,848  20.4  %
Education            
Ellucian Holdings Inc. (f/k/a Sophia, L.P.)(5) First lien senior secured loan SR + 3.00% 10/2029 12,947  12,947  13,022  3.7  %
Spring Education Group, Inc. (fka SSH Group Holdings, Inc.)(6) First lien senior secured loan SR + 4.00% 10/2030 19,800  19,954  19,899  5.7  %
32,901  32,921  9.4  %
Energy equipment and services            
Brookfield WEC Holdings Inc.(5) First lien senior secured loan SR + 2.25% 01/2031 4,086  4,086  4,085  1.2  %
Calpine Construction Finance Company, L.P.(5) First lien senior secured loan SR + 2.00% 07/2030 3,000  2,985  2,991  0.9  %
11
Blue Owl Credit SLF LLC
Consolidated Schedule of Investments
As of December 31, 2024
(Amounts in thousands)

Company(1)(3)(4) Investment Interest Maturity Date Par / Units Amortized Cost(2) Fair Value Percentage of Members’ Equity(9)
Calpine Corporation(6) First lien senior secured loan SR + 1.75% 02/2032 4,000  3,985  3,983  1.1  %
Fleet U.S. Bidco Inc.(7)(8) First lien senior secured loan SR + 2.75% 02/2031 7,481  7,481  7,519  2.2  %
18,537  18,578  5.4  %
Financial services            
AllSpring Buyer(6) First lien senior secured loan SR + 3.00% 11/2030 1,048  1,046  1,049  0.3  %
BCPE Pequod Buyer, Inc.(5) First lien senior secured loan SR + 3.50% 11/2031 8,000  7,960  8,058  2.3  %
Citadel Securities, LP(5) First lien senior secured loan SR + 2.00% 10/2031 7,271  7,271  7,288  2.1  %
Focus Financial Partners, LLC(5) First lien senior secured loan SR + 3.25% 09/2031 7,224  7,206  7,285  2.1  %
Grant Thornton Advisors LLC(6) First lien senior secured loan SR + 2.75% 06/2031 1,783  1,783  1,781  0.5  %
Guggenheim Partners Investment Management Holdings, LLC(6) First lien senior secured loan SR + 2.50% 11/2031 6,000  5,985  6,015  1.7  %
Jane Street Group, LLC(5) First lien senior secured loan SR + 2.00% 12/2031 3,990  3,980  3,972  1.1  %
MARINER WEALTH ADVISORS, LLC(6) First lien senior secured loan SR + 2.75% 08/2028 1,995  1,995  1,995  0.6  %
Orion Advisor Solutions Inc(6) First lien senior secured loan SR + 3.75% 09/2030 6,435  6,389  6,489  1.9  %
PUSHPAY USA INC(6)(8) First lien senior secured loan SR + 4.50% 08/2031 4,286  4,244  4,307  1.2  %
Saphilux S.a.r.L. (dba IQ-EQ)(7) First lien senior secured loan SR + 3.50% 07/2028 15,920  15,972  16,020  4.6  %
63,831  64,259  18.4  %
Food and beverage            
Aspire Bakeries Holdings, LLC(5)(8) First lien senior secured loan SR + 4.25% 12/2030 3,990  3,970  4,020  1.2  %
Balrog Acquisition, Inc. (dba Bakemark)(6) First lien senior secured loan SR + 4.00% 09/2028 24,250  24,321  24,286  7.0  %
Fiesta Purchaser, Inc. (dba Shearer's Foods)(5) First lien senior secured loan SR + 3.25% 02/2031 11,940  11,940  11,938  3.4  %
Froneri International Ltd(5) First lien senior secured loan SR + 2.00% 09/2031 4,000  3,990  4,001  1.1  %
44,221  44,245  12.7  %
Healthcare equipment and services            
Confluent Medical Technologies, Inc.(6) First lien senior secured loan SR + 3.25% 02/2029 9,812  9,877  9,850  2.8  %
Medline Borrower, LP(5) First lien senior secured loan SR + 2.25% 10/2028 22,149  22,149  22,209  6.4  %
Packaging Coordinators Midco, Inc.(6) First lien senior secured loan SR + 3.25% 11/2027 4,862  4,879  4,879  1.4  %
Resonetics, LLC(6) First lien senior secured loan SR + 3.25% 06/2031 19,950  19,950  20,056  5.7  %
56,855  56,994  16.3  %
Healthcare providers and services            
CHG Healthcare Services, Inc(6) First lien senior secured loan SR + 3.50% 09/2028 2,248  2,248  2,264  0.6  %
CHG PPC Parent LLC(5) First lien senior secured loan SR + 3.00% 12/2028 2,984  2,963  2,998  0.9  %
Confluent Health, LLC(5)(8) First lien senior secured loan SR + 4.00% 11/2028 24,329  23,917  23,660  6.8  %
Covetrus, Inc.(6) First lien senior secured loan SR + 5.00% 10/2029 14,738  14,050  14,139  4.1  %
Electron Bidco Inc (dba ExamWorks)(6) First lien senior secured loan SR + 2.75% 11/2028 2,000  2,000  2,006  0.6  %
HAH Group Holding Company LLC(5) First lien senior secured loan SR + 5.00% 09/2031 6,000  5,912  5,993  1.7  %
Phoenix Newco, Inc. (dba Parexel)(5) First lien senior secured loan SR + 3.00% 11/2028 23,937  23,961  24,076  6.9  %
Select Medical Corp.(5) First lien senior secured loan SR + 2.00% 12/2031 4,000  3,995  4,008  1.1  %
Soliant Lower Intermediate, LLC (dba Soliant)(5) First lien senior secured loan SR + 3.75% 07/2031 10,000  10,079  9,900  2.8  %
89,125  89,044  25.5  %
Healthcare technology            
Athenahealth Group Inc.(5) First lien senior secured loan SR + 3.25% 02/2029 12,397  12,378  12,410  3.6  %
Bracket Intermediate Holding Corp.(6) First lien senior secured loan SR + 4.25% 05/2028 19,701  19,701  19,848  5.7  %
Cotiviti, Inc.(5) First lien senior secured loan SR + 3.00% 05/2031 9,925  9,925  9,969  2.9  %
Ensemble RCM, LLC(6) First lien senior secured loan SR + 3.00% 08/2029 4,975  4,996  5,007  1.4  %
Imprivata, Inc.(6) First lien senior secured loan SR + 3.50% 12/2027 19,502  19,612  19,600  5.6  %
PointClickCare Technologies, Inc.(6) First lien senior secured loan SR + 3.25% 11/2031 4,000  3,990  4,020  1.2  %
Project Ruby Ultimate Parent Corp. (dba Wellsky)(5) First lien senior secured loan SR + 3.00% 03/2028 19,975  19,937  20,045  5.7  %
Raven Acquisition Holdings, LLC(5) First lien senior secured loan SR + 3.25% 11/2031 11,200  11,145  11,218  3.2  %
Southern Veterinary Partners, LLC(6) First lien senior secured loan SR + 3.25% 12/2031 20,000  19,904  20,120  5.8  %
Zelis Cost Management Buyer, Inc.(5) First lien senior secured loan SR + 3.25% 11/2031 16,000  15,922  16,040  4.6  %
137,510  138,277  39.7  %
12
Blue Owl Credit SLF LLC
Consolidated Schedule of Investments
As of December 31, 2024
(Amounts in thousands)

Company(1)(3)(4) Investment Interest Maturity Date Par / Units Amortized Cost(2) Fair Value Percentage of Members’ Equity(9)
Human resource support services            
iSolved, Inc.(5) First lien senior secured loan SR + 3.25% 10/2030 5,970  5,970  6,037  1.7  %
5,970  6,037  1.7  %
Infrastructure and environmental services            
Geosyntec Consultants, Inc.(5) First lien senior secured loan SR + 3.75% 07/2031 6,000  5,971  6,038  1.7  %
5,971  6,038  1.7  %
Insurance            
Acrisure, LLC(5) First lien senior secured loan SR + 3.00% 11/2030 9,531  9,531  9,529  2.7  %
Ardonagh Midco 3 PLC(6)(8) First lien senior secured loan SR + 3.75% 02/2031 15,000  15,072  15,075  4.3  %
AssuredPartners, Inc.(5) First lien senior secured loan SR + 3.50% 02/2031 12,917  12,946  12,934  3.7  %
Asurion, LLC(5) First lien senior secured loan SR + 4.25% 08/2028 7,791  7,761  7,791  2.2  %
Broadstreet Partners, Inc.(5) First lien senior secured loan SR + 3.00% 06/2031 6,328  6,328  6,344  1.8  %
Hyperion Refinance S.à r.l (dba Howden Group)(5) First lien senior secured loan SR + 3.50% 04/2030 19,650  19,741  19,768  5.7  %
Hyperion Refinance S.à r.l (dba Howden Group)(5) First lien senior secured loan SR + 3.00% 02/2031 4,963  4,963  4,991  1.4  %
Mitchell International, Inc.(5) First lien senior secured loan SR + 3.25% 06/2031 9,975  9,923  9,967  2.9  %
Summit Acquisition Inc. (dba K2 Insurance Services)(6)(8) First lien senior secured loan SR + 3.75% 10/2031 2,000  1,990  1,990  0.6  %
USI, Inc.(6) First lien senior secured loan SR + 2.25% 09/2030 1,335  1,335  1,332  0.4  %
89,590  89,721  25.7  %
Internet software and services            
Cloud Software Group, Inc.(6) First lien senior secured loan SR + 3.75% 03/2031 5,000  5,000  5,011  1.4  %
Clover Holdings 2, LLC(6)(8) First lien senior secured loan SR + 4.00% 12/2031 17,143  16,973  16,971  4.9  %
Javelin Buyer, Inc.(6) First lien senior secured loan SR + 3.25% 10/2031 3,000  2,993  3,021  0.9  %
McAfee Corp.(5) First lien senior secured loan SR + 3.00% 03/2029 3,288  3,288  3,287  0.9  %
Project Alpha Intermediate Holding, Inc. (dba Qlik)(6) First lien senior secured loan SR + 3.25% 10/2030 7,125  7,107  7,166  2.1  %
Proofpoint, Inc.(5) First lien senior secured loan SR + 3.00% 08/2028 9,900  9,934  9,940  2.8  %
Sedgwick Claims Management Services, Inc.(6) First lien senior secured loan SR + 3.00% 07/2031 14,963  14,991  15,037  4.3  %
Sophos Holdings, LLC(6) First lien senior secured loan SR + 3.50% 03/2027 10,000  9,988  10,055  2.9  %
Storable, Inc.(5) First lien senior secured loan SR + 3.50% 04/2028 14,885  14,919  14,973  4.3  %
The Dun & Bradstreet Corporation(5) First lien senior secured loan SR + 2.25% 01/2029 7,980  7,980  7,981  2.3  %
UST Holdings, Ltd.(5) First lien senior secured loan SR + 3.00% 11/2028 3,990  3,990  4,000  1.1  %
Vertiv Group Corp.(6) First lien senior secured loan SR + 4.50% 11/2030 7,980  7,940  7,998  2.3  %
VS Buyer LLC (dba Veeam Software)(5) First lien senior secured loan SR + 2.75% 04/2031 5,975  5,975  6,013  1.7  %
111,078  111,453  31.9  %
Leisure and entertainment            
Pretzel Parent, Inc.(5) First lien senior secured loan SR + 4.50% 08/2031 3,000  2,956  3,019  0.9  %
2,956  3,019  0.9  %
Manufacturing            
ALLIANCE LAUNDRY SYSTEMS LLC(5) First lien senior secured loan SR + 3.50% 08/2031 7,500  7,464  7,541  2.2  %
Chariot Buyer LLC(5) First lien senior secured loan SR + 3.25% 11/2028 2,487  2,481  2,499  0.7  %
Crown Equipment Corporation(5) First lien senior secured loan SR + 2.50% 10/2031 2,591  2,578  2,604  0.7  %
DXP Enterprises, Inc.(6) First lien senior secured loan SR + 3.75% 10/2030 5,985  5,985  6,047  1.7  %
Engineered Machinery Holdings, Inc. (dba Duravant)(6) First lien senior secured loan SR + 3.75% 05/2028 23,938  24,064  24,072  6.9  %
Gloves Buyer, Inc. (dba Protective Industrial Products)(5)(8) First lien senior secured loan SR + 4.00% 12/2027 14,575  14,559  14,575  4.2  %
Pro Mach Group, Inc.(5) First lien senior secured loan SR + 3.50% 08/2028 15,960  16,044  16,077  4.6  %
73,175  73,415  21.0  %
Professional services            
Apex Group Treasury LLC(7) First lien senior secured loan SR + 3.75% 07/2028 23,938  24,026  24,139  6.9  %
First Advantage Holdings, LLC(5) First lien senior secured loan SR + 3.25% 10/2031 4,000  3,980  4,039  1.2  %
Skopima Merger Sub Inc.(6) First lien senior secured loan SR + 3.75% 05/2028 11,062  11,062  11,090  3.2  %
Sovos Compliance, LLC(5) First lien senior secured loan SR + 4.50% 08/2028 23,471  23,547  23,612  6.8  %
Vistage International, Inc.(6) First lien senior secured loan SR + 4.75% 07/2029 9,899  9,921  9,893  2.8  %
72,536  72,773  20.9  %
13
Blue Owl Credit SLF LLC
Consolidated Schedule of Investments
As of December 31, 2024
(Amounts in thousands)

Company(1)(3)(4) Investment Interest Maturity Date Par / Units Amortized Cost(2) Fair Value Percentage of Members’ Equity(9)
Telecommunications            
Charter Communications Operating LLC(6) First lien senior secured loan SR + 2.25% 12/2031 8,000  7,980  7,977  2.3  %
Eagle Broadband Investments, LLC (dba Mega Broadband Investments)(6) First lien senior secured loan SR + 2.75% 11/2027 1,995  1,990  1,996  0.6  %
9,970  9,973  2.9  %
Transportation            
AIT Worldwide Logistics Holdings, Inc.(6) First lien senior secured loan SR + 4.75% 04/2030 8,000  7,976  8,048  2.3  %
7,976  8,048  2.3  %
Total Misc.-debt commitments(10) —  (6) —  —  %
Total Debt Investments $ 1,162,056  $ 1,164,473  333.8  %
Total Investments $ 1,162,056  $ 1,164,473  333.8  %


(1) Unless otherwise indicated, Blue Owl Credit SLF’s investments are pledged as collateral supporting the amounts outstanding under Blue Owl Credit SLF’s Debt Facilities.
(2) The amortized cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on debt investments using the effective interest method.
(3) Unless otherwise indicated, all investments are considered Level 2 investments.
(4) Unless otherwise indicated, loan contains a variable rate structure, which may be subject to an interest rate floor. Variable rate loans bear interest at a rate that may be determined by reference to Secured Overnight Financing Rate (“SOFR” or “SR”) (which can include one-, three-, six- or twelve-month SOFR), at the borrower’s option, and which reset periodically based on the terms of the loan agreement.
(5) The interest rate on these loans is subject to 1 month SOFR, which as of December 31, 2024 was 4.33%.
(6) The interest rate on these loans is subject to 3 month SOFR, which as of December 31, 2024 was 4.31%.
(7) The interest rate on these loans is subject to 6 month SOFR, which as of December 31, 2024 was 4.25%.
(8) Level 3 investment.
(9) Totals presented may differ than actuals due to rounding.
(10) Position or portion thereof is an unfunded loan commitment. See below for more information on the Company’s unfunded commitments.


Unfunded Commitments as of December 31, 2024:
Unfunded
Portfolio Company Commitment Type Commitment Expiration Date Funded
Commitment		 Commitment Fair Value
Focus Financial Partners, LLC First lien senior secured delayed draw term loan 9/10/2026 $ —  $ 776  — 
Grant Thornton Advisors LLC First lien senior secured delayed draw term loan 7/10/2026 —  217  — 
Raven Acquisition Holdings, LLC First lien senior secured delayed draw term loan 10/24/2026 —  800  — 
Signia Aerospace, LLC First lien senior secured delayed draw term loan 11/22/2026 —  615  — 
Total Portfolio Company Commitments —  $ 2,408  — 
14
Blue Owl Credit SLF LLC
Supplemental Financial Information (Unaudited)
Notes to the consolidated financial information

Organization and Principal Business
Blue Owl Credit SLF LLC (“Credit SLF” or the “Company”), a Delaware limited liability company, is a joint venture among Blue Owl Capital Corporation, Blue Owl Capital Corporation II, Blue Owl Credit Income Corp., Blue Owl Technology Finance Corp., and Blue Owl Technology Income Corp. (the “Blue Owl BDCs”) and State Teachers Retirement System of Ohio (“OSTRS”) (collectively, the “Class A Members”). Credit SLF has no Class B Members as of March 31, 2025. The Company’s principal purpose is to make investments primarily in senior secured loans to middle market companies, broadly syndicated loans and in senior and subordinated notes issued by collateralized loan obligations. The Company is managed by a board of directors comprised of an equal number of directors appointed by each Member and which acts unanimously. Except under certain circumstances, contributions to the Company cannot be redeemed. Investment decisions must be approved by the Company’s board of directors. The Credit SLF Members coinvest through Credit SLF, or its wholly owned subsidiaries. The Company’s date of inception was May 6, 2024 and the Company made its first portfolio company investment on July 23, 2024.
Prior to January 13, 2025, Blue Owl Capital Corporation III (“OBDE”) was a Class A Member. On January 13, 2025, OBDE merged with and into Blue Owl Capital Corporation (“OBDC”) with OBDC surviving (the “OBDE Merger”). At the effective time of the OBDE Merger, OBDE’s commitments to and interests in the Company became OBDC’s. Prior to March 24, 2025, Blue Owl Technology Finance Corp. II (“OTF II”) was a Class A Member. On March 24, 2025, OTF II merged with and into Blue Owl Technology Finance Corp. (“OTF”) with OTF surviving (the “OTF II Merger”). At the effective time of the OTF II Merger, OTF II’s commitments to and interest in the Company became OTF’s. As a result of the mergers, OBDC assumed OBDE’s portion of commitment and contribution to the Company of approximately $6.3 million and $2.4 million, and OTF assumed OTF II’s commitment and contribution to the Company of approximately $2.5 million and $1.2 million respectively.

Investment Portfolio Detail
The table below presents the composition of investments at fair value and amortized cost as of March 31, 2025 and December 31, 2024, respectively:

March 31, 2025 December 31, 2024
($ in thousands) Amortized Cost Fair Value Amortized Cost Fair Value
First-lien senior secured debt investments $ 1,556,203  $ 1,542,540  $ 1,162,056  $ 1,164,473 
Total Investments $ 1,556,203  $ 1,542,540  $ 1,162,056  $ 1,164,473 



















15
Blue Owl Credit SLF LLC
Supplemental Financial Information (Unaudited)
The table below presents the industry composition of investments based on fair value as of March 31, 2025 and December 31, 2024, respectively:
March 31, 2025 December 31, 2024
Advertising and media 0.1  % —  %
Aerospace and defense 5.8  5.9 
Automotive services 1.5  1.6 
Buildings and real estate 3.7  3.2 
Business services 7.4  7.5 
Chemicals 3.0  2.4 
Consumer products 0.6  — 
Containers and packaging 3.3  2.5 
Distribution 4.5  6.1 
Education 2.3  2.8 
Energy equipment and services 1.8  1.6 
Financial services 6.6  5.5 
Food and beverage 4.5  3.8 
Healthcare equipment and services 3.5  4.9 
Healthcare providers and services 7.6  7.6 
Healthcare technology 9.2  11.9 
Household products 0.1  — 
Human resource support services 0.6  0.5 
Infrastructure and environmental services 0.8  0.5 
Insurance 6.8  7.7 
Internet software and services 11.1  9.6 
Investment funds and vehicles —  — 
Leisure and entertainment 0.4  0.3 
Manufacturing 7.4  6.3 
Pharmaceuticals 1.1  — 
Professional Services 4.1  6.2 
Telecommunications 0.8  0.9 
Transportation 1.4  0.7 
Total 100.0  % 100.0  %

The table below presents the geographic composition of investments based on fair value as of March 31, 2025 and December 31, 2024, respectively:
March 31, 2025 December 31, 2024
United States:
Midwest 22.0  % 22.4  %
Northeast 20.0  21.5 
South 31.0  29.3 
West 14.7  17.1 
International 12.3  9.7 
Total 100.0  % 100.0  %
16
Blue Owl Credit SLF LLC
Supplemental Financial Information (Unaudited)

Investments
The table below presents the fair value hierarchy of investments as of March 31, 2025 and December 31, 2024 respectively:
Fair Value Hierarchy as of March 31, 2025
($ in thousands) Level 1 Level 2 Level 3 Total
First-lien senior secured debt investments $ —  $ 1,305,670  $ 236,870  $ 1,542,540 
Total Investments $ —  $ 1,305,670  $ 236,870  $ 1,542,540 

Fair Value Hierarchy as of December 31, 2024
($ in thousands) Level 1 Level 2 Level 3 Total
First-lien senior secured debt investments $ —  $ 1,027,652  $ 136,821  $ 1,164,473 
Total Investments $ —  $ 1,027,652  $ 136,821  $ 1,164,473 

Debt Activity

Bank of America Facility
On June 12, 2024, BOC SLF WH I BA LTD., an exempted company incorporated with limited liability under the laws of the Cayman Islands, entered into a $300.0 million revolving credit facility (the “Bank of America Facility”) with, among others, Bank of America, N.A., as lender and administrative agent. The Company acts as the collateral manager and the first loss provider with respect to the Bank of America Facility. The Company holds preference shares in BOC SLF WH I BA LTD. Proceeds from the Bank of America Facility will be used to finance the origination and acquisition of eligible assets by the borrowers thereunder. The maturity date of the Bank of America Facility is June 12, 2027. On March 6, 2025, a portion of the proceeds from the Wise CLO 2025-1 CLO Transaction (as defined below) were used to repay certain amounts outstanding under the Bank of America Facility and BOC SLF WH I BA LTD. was released from the Bank of America Facility.
On January 22, 2025, BOC SLF BA-2 LTD., an exempted company incorporated with limited liability under the laws of the Cayman Islands, joined as co-borrower to the Bank of America Facility. The Company holds preference shares in BOC SLF BA-2 LTD.. On January 22, 2025, in connection with Wise CLO 2025-1 Transaction, certain of the assets held by BOC SLF WH I BA LTD. were transferred via a master participation agreement to BOC SLF BA-2 Ltd. As of March 31, 2025, there was $15.8 million outstanding under the Bank of America Facility.
Borrowings under the Bank of America Facility bear interest at a per annum rate equal to (a) with respect to any Term SOFR Loan, SOFR + 1.45% and (b) with respect to any Base Rate Loan, Base Rate + 1.45%. Credit SLF predominantly borrows utilizing Term SOFR loans. Credit SLF also pays unused commitment fees of (i) prior to the six-month anniversary of such date, 0.35% and (ii) thereafter, (x) with respect to the First Unused Amount, 1.10% and (y) with respect to the Second Unused Amount, 0.35%. There was $0.2 million of unused commitment fee as of March 31, 2025.
RBC Facility
On June 5, 2024, BOC SLF WH II RB LTD., an exempted company incorporated with limited liability under the laws of the Cayman Islands, as borrower, joined a $300.0 million revolving credit facility (the “RBC Facility”) with, among others, Royal Bank of Canada, as lender administrative agent, and U.S. Bank Trust Company, National Association, as collateral custodian. The Company acts as the collateral manager and the first loss provider with respect to the RBC Facility. The Company holds preference shares in BOC SLF WH II RB LTD. Proceeds from the RBC Facility will be used to finance the origination and acquisition of eligible assets by the borrowers thereunder. The maturity date of the RBC Facility is October 14, 2032. As of March 31, 2025, there was $227.5 million outstanding under the RBC Facility.
Borrowings under the RBC Facility bear interest at a per annum rate equal to SOFR +1.55%.
Citibank Facility
On June 28, 2024, BOC SLF WH III C LTD., an exempted company incorporated with limited liability under the laws of the Cayman Islands, entered into a revolving credit facility (the “Citibank Facility”) with, among others, Citibank, N.A., as lender and administrative agent. The commitment of the Citibank Facility is up to $300.0 million and was $215.0 million as of December 31, 2024. As of March 31, 2025, the commitment is $235.0 million. The Company acts as the collateral manager and the first loss
17
Blue Owl Credit SLF LLC
Supplemental Financial Information (Unaudited)
provider with respect to the Citibank Facility. The Company holds preference shares in BOC SLF WH III C LTD. Proceeds from the Citibank Facility will be used to finance the origination and acquisition of eligible assets by the borrowers thereunder. The maturity date of the Citibank Facility is June 28, 2027. As of March 31, 2025, there was $227.5 million outstanding under the Citibank Facility.
Borrowings under the Citibank Facility bear interest at a per annum rate equal to (i) during the Reinvestment Period, SOFR + 1.40% and (ii) after the end of the Reinvestment Period, 1.90%.
Wells Fargo Facility
On August 1, 2024, BOC SLF WH 4 LTD., an exempted company incorporated with limited liability under the laws of the Cayman Islands, joined a $300.0 million revolving credit facility (the “Wells Fargo Facility”) with, among others, and Wells Fargo Bank, National Association, as a lender and administrative agent, following the release of the prior borrower, ORCIC JV WH III LLC, a Delaware limited liability company, from the Wells Fargo Facility on July 11, 2024. The Company acts as the collateral manager and the first loss provider with respect to the Wells Fargo Facility. The Company holds preference shares in BOC SLF WH 4 LTD. Proceeds from the Wells Fargo Facility will be used to finance the origination and acquisition of eligible assets by the borrowers thereunder. The maturity date of the Wells Fargo Facility is August 1, 2027. On March 31, 2025, a portion of the proceeds from the Wise CLO 2025-2 Transaction (as defined below) were used to repay certain amounts outstanding borrowings under the Wells Fargo Facility and BOC SLF WH 4 LTD. was released from the Wells Fargo Facility.
On March 12, 2025, BOC SLF WF-2 LTD., an exempted company incorporated with limited liability under the laws of the Cayman Islands, joined as co-borrower to the Wells Fargo Facility. The Company holds preference shares in BOC SLF WF-2 LTD.. On March 19, 2025, in connection with the Wise CLO 2025-2 Transaction, certain of the assets held by BOC SLF WH 4 LTD. were transferred via a master participation agreement to BOC SLF WF-2 LTD. As of March 31, 2025, there was $18.6 million outstanding under the Wells Fargo Facility.
Borrowings under the Wells Fargo Facility bear interest at a per annum rate equal to Daily Simple SOFR + 1.50%. Credit SLF also pays unused commitment fees at 0.375% of unused facility amount after six-month anniversary of the most recent securitization.
Wise CLO 2025-1
On June 12, 2024, BOC SLF WH I BA LTD. was incorporated as a company under the laws of the Cayman Islands. On March 6, 2025, BOC SLF WH I BA LTD. changed its name to Wise CLO 2025-1 LTD. The renaming was undertaken in order for BOC SLF WH I BA LTD. (now Wise CLO 2025-1 LTD.) to act as the issuer in a collateralized loan obligation transaction (the “Wise CLO 2025-1 Transaction”) using the financial assets previously acquired by it as the collateral underpinning the Wise CLO 2025-1 Transaction. On March 6, 2025, Wise CLO 2025-1 LTD., as issuer, and Wise CLO 2025-1, LLC, as co-issuer closed the Wise CLO 2025-1 Transaction and issued $240.0 million of Class A Notes, $42.0 million of Class B-1 Notes, $10.0 million of Class B-2 Notes, $28.0 million of Class C Notes, and $92.0 million of Subordinated Notes pursuant to an Indenture dated March 6, 2025 among Wise CLO 2025-1 LTD., as issuer, Wise CLO 2025-1, LLC, as co-issuer, and U.S. Bank Trust Company, National Association, as trustee. The notes issued as part of the Wise CLO 2025-1 Transaction have a stated maturity of January 20, 2038.
Wise CLO 2025-2
On April 15, 2025, BOC SLF WH 4 LTD. was incorporated as a company under the laws of the Cayman Islands. On February 7, 2025, BOC SLF WH 4 LTD. changed its name to Wise CLO 2025-2 LTD. The renaming was undertaken in order for BOC SLF WH 4 LTD. (now Wise CLO 2025-2 LTD.) to act as the issuer in a collateralized loan obligation transaction (the “Wise CLO 2025-2 Transaction”) using the financial assets previously acquired by it as the collateral underpinning the Wise CLO 2025-2 Transaction. On March 31, 2025, Wise CLO 2025-2 LTD., as issuer, and Wise CLO 2025-2, LLC, as co-issuer, closed the Wise CLO 2025-2 Transaction and issued $236.0 million of Class A Notes, $56.0 million of Class B Notes, $28.0 million of Class C Notes, and $92.0 million of Subordinated Notes pursuant to an Indenture dated March 31, 2025 among Wise CLO 2025-2 LTD., as issuer, Wise CLO 2025-2, LLC, as co-issuer, and US Bank Trust Company, National Association, as trustee. The notes issued as part of the Wise CLO 2025-2 Transaction have a stated maturity of April 20, 2028.
Financial Instruments Not Carried at Fair Value
The fair value of the Company’s debt, which is categorized as Level 3 within the fair value hierarchy as of March 31, 2025, approximates the carrying value. The carrying amounts of the Company’s assets and liabilities, other than investments at fair value, approximate fair value due to their short maturities.
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Blue Owl Credit SLF LLC
Supplemental Financial Information (Unaudited)

The table below presents the net carrying value of the Company’s debt obligations as of March 31, 2025 and December 31, 2024 respectively:
March 31, 2025
($ in thousands) Aggregate Principal Committed Outstanding Principal
Amount Available(1)
Unamortized Debt Issuance Costs Net Carrying Value
WISE CLO 2025-1 LTD. $ 320,000  $ 320,000  $ —  $ 2,127  $ 317,873 
WISE CLO 2025-2 LTD.(3)
320,000  319,160  —  1,875  317,285 
Bank of America Facility 300,000  15,779  80,150  403  $ 15,376 
RBC Facility 300,000  227,510  72,490  360  227,150 
Citibank Facility(2)
235,000  227,510  7,490  310  227,200 
Wells Fargo Facility 300,000  18,566  73,177  369  18,197 
Total Debt $ 1,775,000  $ 1,128,525  $ 233,307  $ 5,444  $ 1,123,081 

December 31, 2024
($ in thousands) Aggregate Principal Committed Outstanding Principal
Amount Available(1)
Unamortized Debt Issuance Costs Net Carrying Value
Bank of America Facility $ 300,000  $ 194,919  $ 28,016  $ 448  $ 194,471 
RBC Facility 300,000  194,870  28,065  371  194,499 
Citibank Facility(2)
215,000  194,401  20,599  344  194,057 
Wells Fargo Facility 300,000  167,992  31,513  409  167,583 
Total Debt $ 1,115,000  $ 752,182  $ 108,193  $ 1,572  $ 750,610 

(1) The amount available reflects any collateral related limitations at the Company level related to each credit facility’s borrowing base.
(2) The commitment of the Citibank Facility is up to $300.0 million, and was $215.0 million as of December 31, 2024 and $235.0 million as of March 31, 2025 respectively.
(3) Class B and Class C notes were traded at 99% at close of the WISE CLO 2025-2 LTD..

The table below presents the components of interest expense for the following period:
For the Three Months Ended March 31,
($ in thousands) 2025
Interest expense $ 12,907 
Amortization of debt issuance costs 142 
Total Interest Expense $ 13,049 
Average interest rate(1)
5.9  %
Average daily outstanding borrowings $ 873,227 

(1) Averages are calculated based on annualized amounts.


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