False2025Q1000174777712/31xbrli:sharesiso4217:USDiso4217:USDxbrli:sharesxbrli:pureiso4217:GBPiso4217:EURiso4217:AUDortf:platformortf:extensionortf:component00017477772025-01-012025-03-3100017477772025-05-120001747777us-gaap:InvestmentUnaffiliatedIssuerMember2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMember2024-12-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-03-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2024-12-310001747777us-gaap:InvestmentAffiliatedIssuerControlledMember2025-03-310001747777us-gaap:InvestmentAffiliatedIssuerControlledMember2024-12-3100017477772025-03-3100017477772024-12-3100017477772024-01-012024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMember2025-01-012025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMember2024-01-012024-03-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-01-012025-03-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2024-01-012024-03-310001747777us-gaap:InvestmentAffiliatedIssuerControlledMember2025-01-012025-03-310001747777us-gaap:InvestmentAffiliatedIssuerControlledMember2024-01-012024-03-3100017477772024-01-012024-03-310001747777ManTech International Corporation, First lien senior secured loan2025-03-310001747777Peraton Corp., Second lien senior secured loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:AerospaceSectorMemberus-gaap:DebtSecuritiesMember2025-03-310001747777AI Titan Parent, Inc. 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(dba Smartsheet), First lien senior secured loan2025-03-310001747777Fullsteam Operations, LLC, First lien senior secured loan2025-03-310001747777Fullsteam Operations, LLC, First lien senior secured delayed draw term loan2025-03-310001747777Gainsight, Inc., First lien senior secured loan2025-03-310001747777Granicus, Inc., First lien senior secured loan2025-03-310001747777Granicus, Inc., First lien senior secured delayed draw term loan2025-03-310001747777GS Acquisitionco, Inc. (dba insightsoftware), First lien senior secured loan2025-03-310001747777JS Parent, Inc. (dba Jama Software), First lien senior secured loan2025-03-310001747777Magnet Forensics, LLC (f/k/a Grayshift, LLC), First lien senior secured loan2025-03-310001747777Ministry Brands Holdings, LLC, First lien senior secured loan2025-03-310001747777Simpler Postage, Inc. (dba Easypost), First lien senior secured loan2025-03-310001747777Tamarack Intermediate, L.L.C. 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(dba e-Emphasys), First lien senior secured loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:BuildingProductsMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Associations, Inc., First lien senior secured revolving loan2025-03-310001747777Associations Finance, Inc., Unsecured notes2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:BuildingsRealEstateMemberus-gaap:DebtSecuritiesMember2025-03-310001747777CCM Midco, LLC (f/k/a Cresset Capital Management, LLC), First lien senior secured loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:CapitalMarketsMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Pye-Barker Fire & Safety, LLC, First lien senior secured loan2025-03-310001747777Pye-Barker Fire & Safety, LLC, First lien senior secured revolving loan2025-03-310001747777SimpliSafe Holding Corporation, First lien senior secured loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:CommercialServicesSuppliesMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Dodge Construction Network LLC, First lien senior secured loan 12025-03-310001747777Dodge Construction Network LLC, First lien senior secured loan 22025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:ConstructionSectorMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Klarna Holding AB, Subordinated Floating Rate Notes2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:ConsumerFinanceMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Ellucian Holdings Inc. (f/k/a Sophia, L.P.), First lien senior secured loan2025-03-310001747777Icefall Parent, Inc. (dba EngageSmart), First lien senior secured loan2025-03-310001747777Juniper Square, Inc., First lien senior secured loan2025-03-310001747777Litera Bidco LLC, First lien senior secured loan2025-03-310001747777Relativity ODA LLC, First lien senior secured loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:DiversifiedConsumerServicesMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Blackhawk Network Holdings, Inc., First lien senior secured loan2025-03-310001747777BTRS Holdings Inc. (dba Billtrust), First lien senior secured loan2025-03-310001747777Computer Services, Inc. (dba CSI), First lien senior secured loan 12025-03-310001747777Computer Services, Inc. (dba CSI), First lien senior secured loan 22025-03-310001747777Hg Genesis 8 Sumoco Limited, Unsecured facility2025-03-310001747777Hg Genesis 9 SumoCo Limited, Unsecured facility2025-03-310001747777Hg Saturn Luchaco Limited, Unsecured facility2025-03-310001747777Minotaur Acquisition, Inc. (dba Inspira Financial), First lien senior secured loan2025-03-310001747777NMI Acquisitionco, Inc. (dba Network Merchants), First lien senior secured loan2025-03-310001747777Smarsh Inc., First lien senior secured loan2025-03-310001747777Smarsh Inc., First lien senior secured revolving loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:DiversifiedFinancialServicesMemberus-gaap:DebtSecuritiesMember2025-03-310001747777CoreTrust Purchasing Group LLC, First lien senior secured loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:DiversifiedSupportServicesMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Aerosmith Bidco 1 Limited (dba Audiotonix), First lien senior secured loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:ElectricalEquipmentMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Storable, Inc., First lien senior secured loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:EquityRealEstateInvestmentTrustsREITsMemberus-gaap:DebtSecuritiesMember2025-03-310001747777IRI Group Holdings, Inc. (f/k/a Circana Group, L.P. (f/k/a The NPD Group, L.P.)), First lien senior secured loan2025-03-310001747777IRI Group Holdings, Inc. (f/k/a Circana Group, L.P. (f/k/a The NPD Group, L.P.)), First lien senior secured revolving loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:FoodStaplesRetailingMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Cambrex Corporation, First lien senior secured loan2025-03-310001747777Packaging Coordinators Midco, Inc., First lien senior secured loan2025-03-310001747777PerkinElmer U.S. LLC, First lien senior secured loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:HealthCareEquipmentSuppliesMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Covetrus, Inc., Second lien senior secured loan2025-03-310001747777Engage Debtco Limited, First lien senior secured loan2025-03-310001747777EresearchTechnology, Inc. (dba Clario), First lien senior secured loan2025-03-310001747777KWOL Acquisition, Inc. (dba Worldwide Clinical Trials), First lien senior secured loan2025-03-310001747777OneOncology, LLC, First lien senior secured loan2025-03-310001747777OneOncology, LLC, First lien senior secured delayed draw term loan2025-03-310001747777PetVet Care Centers, LLC, First lien senior secured loan2025-03-310001747777Phantom Purchaser, Inc., First lien senior secured loan2025-03-310001747777TC Holdings, LLC (dba TrialCard), First lien senior secured loan2025-03-310001747777Vermont Aus Pty Ltd, First lien senior secured AUD term loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:HealthCareProvidersServicesMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Athenahealth Group Inc., First lien senior secured loan2025-03-310001747777BCPE Osprey Buyer, Inc. (dba PartsSource), First lien senior secured loan2025-03-310001747777BCPE Osprey Buyer, Inc. (dba PartsSource), First lien senior secured delayed draw term loan2025-03-310001747777BCPE Osprey Buyer, Inc. (dba PartsSource), First lien senior secured revolving loan2025-03-310001747777Color Intermediate, LLC (dba ClaimsXten), First lien senior secured loan2025-03-310001747777CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant), First lien senior secured loan2025-03-310001747777GI Ranger Intermediate, LLC (dba Rectangle Health), First lien senior secured loan2025-03-310001747777Greenway Health, LLC, First lien senior secured loan2025-03-310001747777Hyland Software, Inc., First lien senior secured loan2025-03-310001747777Indikami Bidco, LLC (dba IntegriChain), First lien senior secured loan2025-03-310001747777Indikami Bidco, LLC (dba IntegriChain), First lien senior secured delayed draw term loan2025-03-310001747777Indikami Bidco, LLC (dba IntegriChain), First lien senior secured revolving loan2025-03-310001747777Inovalon Holdings, Inc., First lien senior secured loan2025-03-310001747777Inovalon Holdings, Inc., Second lien senior secured loan2025-03-310001747777Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.), First lien senior secured loan2025-03-310001747777Interoperability Bidco, Inc. (dba Lyniate), First lien senior secured loan2025-03-310001747777Natural Partners, LLC, First lien senior secured loan2025-03-310001747777Neptune Holdings, Inc. (dba NexTech), First lien senior secured loan2025-03-310001747777Project Ruby Ultimate Parent Corp. (dba Wellsky), First lien senior secured loan2025-03-310001747777RL Datix Holdings (USA), Inc., First lien senior secured loan2025-03-310001747777RL Datix Holdings (USA), Inc., First lien senior secured GBP term loan2025-03-310001747777Salinger Bidco Inc. (dba Surgical Information Systems), First lien senior secured loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:HealthcareTechnologyMemberus-gaap:DebtSecuritiesMember2025-03-310001747777MINDBODY, Inc., First lien senior secured loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:HotelsRestaurantsLeisureMemberus-gaap:DebtSecuritiesMember2025-03-310001747777BCTO BSI Buyer, Inc. (dba Buildertrend), First lien senior secured loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:HouseholdDurablesMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Aptean Acquiror, Inc. (dba Aptean), First lien senior secured loan2025-03-310001747777QAD, Inc., First lien senior secured loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:IndustrialConglomeratesMemberus-gaap:DebtSecuritiesMember2025-03-310001747777AmeriLife Holdings LLC, First lien senior secured loan2025-03-310001747777Asurion, LLC, First lien senior secured loan2025-03-310001747777Asurion, LLC, Second lien senior secured loan2025-03-310001747777Diamond Insure Bidco (dba Acturis), First lien senior secured EUR term loan2025-03-310001747777Diamond Insure Bidco (dba Acturis), First lien senior secured GBP term loan2025-03-310001747777Disco Parent, Inc. (dba Duck Creek Technologies, Inc.), First lien senior secured loan2025-03-310001747777Galway Borrower LLC, First lien senior secured delayed draw term loan2025-03-310001747777Integrated Specialty Coverages, LLC, First lien senior secured loan2025-03-310001747777Integrity Marketing Acquisition, LLC, First lien senior secured loan2025-03-310001747777Simplicity Financial Marketing Group Holdings, Inc., First lien senior secured loan2025-03-310001747777Simplicity Financial Marketing Group Holdings, Inc., First lien senior secured delayed draw term loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:InsuranceSectorMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Aurelia Netherlands B.V., First lien senior secured EUR term loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:InternetDirectMarketingRetailMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Kaseya Inc., First lien senior secured loan2025-03-310001747777Kaseya Inc., Second lien senior secured loan2025-03-310001747777Severin Acquisition, LLC (dba PowerSchool), First lien senior secured loan2025-03-310001747777Severin Acquisition, LLC (dba PowerSchool), First lien senior secured delayed draw term loan2025-03-310001747777Severin Acquisition, LLC (dba PowerSchool), First lien senior secured revolving loan2025-03-310001747777Spaceship Purchaser, Inc. (dba Squarespace), First lien senior secured loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:TechnologySectorMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Bamboo US BidCo LLC, First lien senior secured EUR term loan2025-03-310001747777Bamboo US BidCo LLC, First lien senior secured loan2025-03-310001747777Bracket Intermediate Holding Corp., First lien senior secured loan2025-03-310001747777Creek Parent, Inc. (dba Catalent), First lien senior secured loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:LifeSciencesToolsServicesMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Monotype Imaging Holdings Inc., First lien senior secured loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:MediaMemberus-gaap:DebtSecuritiesMember2025-03-310001747777PDI TA Holdings, Inc., First lien senior secured loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:MultilineRetailMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Foundation Consumer Brands, LLC, First lien senior secured loan2025-03-310001747777Pacific BidCo Inc., First lien senior secured loan2025-03-310001747777Pacific BidCo Inc., First lien senior secured delayed draw term loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:PharmaceuticalsMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Certinia Inc., First lien senior secured loan2025-03-310001747777CloudPay, Inc., First lien senior secured loan2025-03-310001747777Cornerstone OnDemand, Inc., Second lien senior secured loan2025-03-310001747777Gerson Lehrman Group, Inc., First lien senior secured loan2025-03-310001747777Proofpoint, Inc., First lien senior secured loan2025-03-310001747777Sensor Technology Topco, Inc. (dba Humanetics), First lien senior secured loan2025-03-310001747777Sensor Technology Topco, Inc. (dba Humanetics), First lien senior secured EUR term loan2025-03-310001747777Sensor Technology Topco, Inc. (dba Humanetics), First lien senior secured revolving loan2025-03-310001747777Sovos Compliance, LLC, First lien senior secured loan2025-03-310001747777Thunder Purchaser, Inc. (dba Vector Solutions), First lien senior secured loan2025-03-310001747777TK Operations Ltd (dba Travelperk, Inc.), First lien senior secured loan2025-03-310001747777When I Work, Inc., First lien senior secured loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:ProfessionalServicesMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Entrata, Inc., First lien senior secured loan2025-03-310001747777RealPage, Inc., First lien senior secured loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:RealEstateManagementDevelopmentMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Acquia Inc., First lien senior secured loan2025-03-310001747777Activate Holdings (US) Corp. (dba Absolute Software), First lien senior secured loan2025-03-310001747777Appfire Technologies, LLC, First lien senior secured loan2025-03-310001747777Arctic Wolf Networks, Inc., First lien senior secured loan2025-03-310001747777Arctic Wolf Networks, Inc., Senior convertible notes2025-03-310001747777Azurite Intermediate Holdings, Inc. (dba Alteryx, Inc.), First lien senior secured loan2025-03-310001747777Barracuda Networks, Inc., First lien senior secured loan2025-03-310001747777Barracuda Networks, Inc., Second lien senior secured loan2025-03-310001747777Barracuda Parent, LLC, First lien senior secured loan2025-03-310001747777Bayshore Intermediate #2, L.P. (dba Boomi), First lien senior secured loan2025-03-310001747777ConnectWise, LLC, First lien senior secured loan2025-03-310001747777Crewline Buyer, Inc. (dba New Relic), First lien senior secured loan2025-03-310001747777Databricks, Inc., First lien senior secured loan2025-03-310001747777Databricks, Inc., First lien senior secured delayed draw term loan2025-03-310001747777Delinea Buyer, Inc. (f/k/a Centrify), First lien senior secured loan2025-03-310001747777Delta TopCo, Inc. (dba Infoblox, Inc.), Second lien senior secured loan2025-03-310001747777Forescout Technologies, Inc., First lien senior secured loan2025-03-310001747777H&F Opportunities LUX III S.À R.L (dba Checkmarx), First lien senior secured loan2025-03-310001747777LogRhythm, Inc., First lien senior secured loan2025-03-310001747777Oranje Holdco, Inc. (dba KnowBe4), First lien senior secured loan 12025-03-310001747777Oranje Holdco, Inc. (dba KnowBe4), First lien senior secured loan 22025-03-310001747777Ping Identity Holding Corp., First lien senior secured loan2025-03-310001747777Rubrik, Inc., First lien senior secured loan2025-03-310001747777Securonix, Inc., First lien senior secured loan2025-03-310001747777Securonix, Inc., First lien senior secured revolving loan2025-03-310001747777Sitecore Holding III A/S, First lien senior secured loan2025-03-310001747777Sitecore Holding III A/S, First lien senior secured EUR term loan2025-03-310001747777Sitecore USA, Inc., First lien senior secured loan2025-03-310001747777Sophos Holdings, LLC, First lien senior secured loan2025-03-310001747777Talon MidCo 2 Limited, First lien senior secured loan2025-03-310001747777Tricentis Operations Holdings, Inc., First lien senior secured loan2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:SystemsSoftwareMemberus-gaap:DebtSecuritiesMember2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:TotalCompanyInvestmentsIncludingMiscellaneousDebtCommitmentsMember2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:MiscellaneousDebtCommitmentsNettingMember2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Space Exploration Technologies Corp., Class A Common Stock2025-03-310001747777Space Exploration Technologies Corp., Class C Common Stock2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:AerospaceSectorMemberus-gaap:EquitySecuritiesMember2025-03-3100017477776Sense Insights, Inc., Series E-1 Preferred Stock2025-03-310001747777Alpha Partners Technology Merger Corp, Common stock2025-03-310001747777Alpha Partners Technology Merger Corp, Warrants2025-03-310001747777AlphaSense, LLC, Series E Preferred Shares2025-03-310001747777Bird Holding B.V. (fka MessageBird Holding B.V.), Extended Series C Warrants2025-03-310001747777Diligent Preferred Issuer, Inc. (dba Diligent Corporation), Preferred Stock2025-03-310001747777EShares, Inc. (dba Carta), Series E Preferred Stock2025-03-310001747777Insight CP (Blocker) Holdings, L.P. (dba CivicPlus, LLC), LP Interest2025-03-310001747777Nylas, Inc., Series C Preferred Stock2025-03-310001747777Project Alpine Co-Invest Fund, LP, LP Interest2025-03-310001747777Saturn Ultimate, Inc., Common stock2025-03-310001747777Simpler Postage, Inc. (dba Easypost), Warrants2025-03-310001747777Zoro TopCo, L.P., Class A Common Units2025-03-310001747777Zoro TopCo, Inc., Series A Preferred Equity2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:ApplicationSoftwareMemberus-gaap:EquitySecuritiesMember2025-03-310001747777Acorns Grow Incorporated, Series F Preferred Stock2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:CapitalMarketsMemberus-gaap:EquitySecuritiesMember2025-03-310001747777Dodge Construction Network Holdings, L.P., Class A-2 Common Units2025-03-310001747777Dodge Construction Network Holdings, L.P., Series A Preferred Units2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:ConstructionSectorMemberus-gaap:EquitySecuritiesMember2025-03-310001747777SLA Eclipse Co-Invest, L.P., LP Interest2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:ConsumerProductsMemberus-gaap:EquitySecuritiesMember2025-03-310001747777Amergin Asset Management, LLC, Class A Units2025-03-310001747777Brex, Inc., Preferred Stock2025-03-310001747777Juniper Square, Inc., Warrants2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:DiversifiedFinancialServicesMemberus-gaap:EquitySecuritiesMember2025-03-310001747777BEHP Co-Investor II, L.P., LP Interest2025-03-310001747777Minerva Holdco, Inc., Senior A Preferred Stock2025-03-310001747777Orange Blossom Parent, Inc., Common Units2025-03-310001747777WP Irving Co-Invest, L.P., Partnership Units2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:HealthcareTechnologyMemberus-gaap:EquitySecuritiesMember2025-03-310001747777KWOL Acquisition, Inc. (dba Worldwide Clinical Trials), Class A Interest2025-03-310001747777Romulus Intermediate Holdings 1 Inc. (dba PetVet Care Centers), Series A Preferred Stock2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:HealthCareProvidersServicesMemberus-gaap:EquitySecuritiesMember2025-03-310001747777VEPF Torreys Aggregator, LLC (dba MINDBODY, Inc.), Series A Preferred Stock2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:HotelsRestaurantsLeisureMemberus-gaap:EquitySecuritiesMember2025-03-310001747777Accelerate Topco Holdings, LLC, Common Units2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:InsuranceSectorMemberus-gaap:EquitySecuritiesMember2025-03-310001747777Kajabi Holdings, LLC, Senior Preferred Class D Units2025-03-310001747777Linked Store Cayman Ltd. (dba Nuvemshop), Series E Preferred Stock2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:InternetDirectMarketingRetailMemberus-gaap:EquitySecuritiesMember2025-03-310001747777E2Open Parent Holdings, Inc., Class A Common Stock2025-03-310001747777JumpCloud, Inc., Series B Preferred Stock2025-03-310001747777JumpCloud, Inc., Series F Preferred Stock2025-03-310001747777Knockout Intermediate Holdings I Inc. (dba Kaseya Inc.), Perpetual Preferred Stock2025-03-310001747777Replicated, Inc., Series C Preferred Stock2025-03-310001747777WMC Bidco, Inc. (dba West Monroe), Senior Preferred Stock2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:TechnologySectorMemberus-gaap:EquitySecuritiesMember2025-03-310001747777XOMA Corporation, Warrants2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:PharmaceuticalsMemberus-gaap:EquitySecuritiesMember2025-03-310001747777BCTO WIW Holdings, Inc. (dba When I Work), Class A Common Stock2025-03-310001747777CloudPay, Inc., Series E Preferred Stock2025-03-310001747777Sunshine Software Holdings, Inc. (dba Cornerstone OnDemand, Inc.), Series A Preferred Stock2025-03-310001747777Thunder Topco L.P. (dba Vector Solutions), Common Units2025-03-310001747777TravelPerk, Inc., Warrants2025-03-310001747777Vestwell Holdings, Inc., Series D Preferred Stock2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:ProfessionalServicesMemberus-gaap:EquitySecuritiesMember2025-03-310001747777Bolt Technology OÜ, Preferred Stock2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:RoadRailMemberus-gaap:EquitySecuritiesMember2025-03-310001747777Algolia, Inc., Series C Preferred Stock2025-03-310001747777Algolia, Inc., Series D Preferred Stock2025-03-310001747777Arctic Wolf Networks, Inc., Preferred Stock2025-03-310001747777Axonius, Inc., Series E Preferred Stock2025-03-310001747777Brooklyn Lender Co-Invest 2, L.P. (dba Boomi), Common Units2025-03-310001747777Chrome Investors LP, LP Interest2025-03-310001747777Circle Internet Services, Inc., Warrants2025-03-310001747777Circle Internet Services, Inc., Series D Preferred Stock2025-03-310001747777Circle Internet Services, Inc., Series E Preferred Stock2025-03-310001747777Circle Internet Services, Inc., Series F Preferred Stock2025-03-310001747777Circle Internet Services, Inc., Subordinated Convertible Security2025-03-310001747777Elliott Alto Co-Investor Aggregator L.P., LP Interest2025-03-310001747777Excalibur CombineCo, L.P., Class A Units2025-03-310001747777Halo Parent Newco, LLC, Class H PIK Preferred Equity2025-03-310001747777HARNESS INC., Series D Preferred Stock2025-03-310001747777Illumio, Inc., Common stock2025-03-310001747777Illumio, Inc., Series F Preferred Stock2025-03-310001747777Project Hotel California Co-Invest Fund, L.P., LP Interest2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:SystemsSoftwareMemberus-gaap:EquitySecuritiesMember2025-03-310001747777Blend Labs, Inc., Warrants2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:ThriftsMortgageFinanceMemberus-gaap:EquitySecuritiesMember2025-03-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:EquitySecuritiesMember2025-03-310001747777AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC, First lien senior secured loan2025-03-310001747777AAM Series 2.1 Aviation Feeder, LLC, First lien senior secured loan2025-03-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberortf:DiversifiedFinancialServicesMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Coherent Group Inc., Convertible notes2025-03-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberus-gaap:InsuranceSectorMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Walker Edison Furniture Company LLC, First lien senior secured loan2025-03-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberortf:InternetDirectMarketingRetailMemberus-gaap:DebtSecuritiesMember2025-03-310001747777Pluralsight, LLC, First lien senior secured loan 12025-03-310001747777Pluralsight, LLC, First lien senior secured loan 22025-03-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberus-gaap:TechnologySectorMemberus-gaap:DebtSecuritiesMember2025-03-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberus-gaap:DebtSecuritiesMember2025-03-310001747777AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC, LLC Interest2025-03-310001747777AAM Series 2.1 Aviation Feeder, LLC, LLC Interest2025-03-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberortf:DiversifiedFinancialServicesMemberus-gaap:EquitySecuritiesMember2025-03-310001747777Coherent Group Inc., Series B Preferred Shares2025-03-310001747777Fifth Season Investments LLC, Class A Units2025-03-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberus-gaap:InsuranceSectorMemberus-gaap:EquitySecuritiesMember2025-03-310001747777Signifyd Inc., Preferred equity2025-03-310001747777Walker Edison Holdco LLC, Common Units2025-03-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberortf:InternetDirectMarketingRetailMemberus-gaap:EquitySecuritiesMember2025-03-310001747777Paradigmatic Holdco LLC (dba Pluralsight), Common stock2025-03-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberus-gaap:TechnologySectorMemberus-gaap:EquitySecuritiesMember2025-03-310001747777LSI Financing LLC, Common Equity2025-03-310001747777LSI Financing 1 DAC, Preferred equity2025-03-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberortf:PharmaceuticalsMemberus-gaap:EquitySecuritiesMember2025-03-310001747777Help HP SCF Investor, LP, LP Interest2025-03-310001747777Securiti, Inc., Series C Preferred Shares2025-03-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberortf:SystemsSoftwareMemberus-gaap:EquitySecuritiesMember2025-03-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberus-gaap:EquitySecuritiesMember2025-03-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberortf:TotalCompanyInvestmentsIncludingMiscellaneousDebtCommitmentsMember2025-03-310001747777Revolut Ribbit Holdings, LLC, LLC Interest2025-03-310001747777us-gaap:InvestmentAffiliatedIssuerControlledMemberortf:DiversifiedFinancialServicesMemberus-gaap:EquitySecuritiesMember2025-03-310001747777Blue Owl Credit SLF LLC, LLC Interest2025-03-310001747777us-gaap:InvestmentAffiliatedIssuerControlledMemberortf:JointVenturesMemberus-gaap:EquitySecuritiesMember2025-03-310001747777us-gaap:InvestmentAffiliatedIssuerControlledMemberus-gaap:EquitySecuritiesMember2025-03-310001747777us-gaap:InvestmentAffiliatedIssuerControlledMemberortf:TotalCompanyInvestmentsIncludingMiscellaneousDebtCommitmentsMember2025-03-310001747777ortf:April2029NotesMemberus-gaap:InterestRateSwapMemberus-gaap:UnsecuredDebtMember2025-03-310001747777ortf:March2028NotesMemberus-gaap:InterestRateSwapMemberus-gaap:UnsecuredDebtMember2025-03-310001747777us-gaap:InterestRateSwapMemberus-gaap:UnsecuredDebtMember2025-03-310001747777Aerosmith Bidco 1 Limited (dba Audiotonix), First lien senior secured delayed draw term loan2025-03-310001747777AI Titan Parent, Inc. (dba Prometheus Group), First lien senior secured delayed draw term loan2025-03-310001747777AlphaSense, Inc., First lien senior secured delayed draw term loan 12025-03-310001747777AlphaSense, Inc., First lien senior secured delayed draw term loan 22025-03-310001747777AmeriLife Holdings LLC, First lien senior secured delayed draw term loan 12025-03-310001747777AmeriLife Holdings LLC, First lien senior secured delayed draw term loan 22025-03-310001747777Appfire Technologies, LLC, First lien senior secured delayed draw term loan 12025-03-310001747777Appfire Technologies, LLC, First lien senior secured delayed draw term loan 22025-03-310001747777Aptean Acquiror, Inc. (dba Aptean), First lien senior secured delayed draw term loan 12025-03-310001747777Aptean Acquiror, Inc. (dba Aptean), First lien senior secured delayed draw term loan 22025-03-310001747777Aptean Acquiror, Inc. (dba Aptean), First lien senior secured delayed draw term loan 32025-03-310001747777Artifact Bidco, Inc. (dba Avetta), First lien senior secured delayed draw term loan2025-03-310001747777Associations, Inc., First lien senior secured delayed draw term loan2025-03-310001747777Bamboo US BidCo LLC, First lien senior secured delayed draw term loan2025-03-310001747777BCPE Osprey Buyer, Inc. (dba PartsSource), First lien senior secured delayed draw term loan, 10/20252025-03-310001747777Cambrex Corporation, First lien senior secured delayed draw term loan2025-03-310001747777CCM Midco, LLC (f/k/a Cresset Capital Management, LLC), First lien senior secured delayed draw term loan 12025-03-310001747777CCM Midco, LLC (f/k/a Cresset Capital Management, LLC), First lien senior secured delayed draw term loan 22025-03-310001747777Computer Services, Inc. (dba CSI), First lien senior secured delayed draw term loan2025-03-310001747777CoreTrust Purchasing Group LLC, First lien senior secured delayed draw term loan2025-03-310001747777Coupa Holdings, LLC, First lien senior secured delayed draw term loan2025-03-310001747777CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant), First lien senior secured delayed draw term loan2025-03-310001747777EET Buyer, Inc. (dba e-Emphasys), First lien senior secured delayed draw term loan2025-03-310001747777EresearchTechnology, Inc. (dba Clario), First lien senior secured delayed draw term loan 12025-03-310001747777EresearchTechnology, Inc. (dba Clario), First lien senior secured delayed draw term loan 22025-03-310001747777Fullsteam Operations, LLC, First lien senior secured delayed draw term loan 12025-03-310001747777Fullsteam Operations, LLC, First lien senior secured delayed draw term loan 22025-03-310001747777Galway Borrower LLC, First lien senior secured delayed draw term loan, 7/20262025-03-310001747777GS Acquisitionco, Inc. (dba insightsoftware), First lien senior secured delayed draw term loan, 12/20252025-03-310001747777Indikami Bidco, LLC (dba IntegriChain), First lien senior secured delayed draw term loan, 12/20252025-03-310001747777Integrated Specialty Coverages, LLC, First lien senior secured delayed draw term loan2025-03-310001747777Integrity Marketing Acquisition, LLC, First lien senior secured delayed draw term loan2025-03-310001747777Interoperability Bidco, Inc. (dba Lyniate), First lien senior secured delayed draw term loan2025-03-310001747777Juniper Square, Inc., First lien senior secured delayed draw term loan2025-03-310001747777Litera Bidco LLC, First lien senior secured delayed draw term loan 12025-03-310001747777Litera Bidco LLC, First lien senior secured delayed draw term loan 22025-03-310001747777ManTech International Corporation, First lien senior secured delayed draw term loan2025-03-310001747777Minotaur Acquisition, Inc. (dba Inspira Financial), First lien senior secured delayed draw term loan2025-03-310001747777Monotype Imaging Holdings Inc., First lien senior secured delayed draw term loan2025-03-310001747777OneOncology, LLC, First lien senior secured delayed draw term loan 12025-03-310001747777OneOncology, LLC, First lien senior secured delayed draw term loan 22025-03-310001747777Packaging Coordinators Midco, Inc., First lien senior secured delayed draw term loan2025-03-310001747777PDI TA Holdings, Inc., First lien senior secured delayed draw term loan2025-03-310001747777PetVet Care Centers, LLC, First lien senior secured delayed draw term loan2025-03-310001747777Pye-Barker Fire & Safety, LLC, First lien senior secured delayed draw term loan 12025-03-310001747777Pye-Barker Fire & Safety, LLC, First lien senior secured delayed draw term loan 22025-03-310001747777RL Datix Holdings (USA), Inc., First lien senior secured delayed draw term loan2025-03-310001747777Rubrik, Inc., First lien senior secured delayed draw term loan2025-03-310001747777Salinger Bidco Inc. (dba Surgical Information Systems), First lien senior secured delayed draw term loan2025-03-310001747777Sensor Technology Topco, Inc. (dba Humanetics), First lien senior secured delayed draw term loan2025-03-310001747777Sensor Technology Topco, Inc. (dba Humanetics), First lien senior secured EUR delayed draw term loan2025-03-310001747777Severin Acquisition, LLC (dba PowerSchool), First lien senior secured delayed draw term loan, 10/20272025-03-310001747777Simpler Postage, Inc. (dba Easypost), First lien senior secured delayed draw term loan2025-03-310001747777Simplicity Financial Marketing Group Holdings, Inc., First lien senior secured delayed draw term loan, 12/20262025-03-310001747777Smarsh Inc., First lien senior secured delayed draw term loan2025-03-310001747777Spaceship Purchaser, Inc. (dba Squarespace), First lien senior secured delayed draw term loan 12025-03-310001747777Spaceship Purchaser, Inc. (dba Squarespace), First lien senior secured delayed draw term loan 22025-03-310001747777Tricentis Operations Holdings, Inc., First lien senior secured delayed draw term loan2025-03-310001747777Zendesk, Inc., First lien senior secured delayed draw term loan2025-03-310001747777Acquia Inc., First lien senior secured revolving loan2025-03-310001747777Activate Holdings (US) Corp. (dba Absolute Software), First lien senior secured revolving loan2025-03-310001747777Aerosmith Bidco 1 Limited (dba Audiotonix), First lien senior secured revolving loan2025-03-310001747777AI Titan Parent, Inc. (dba Prometheus Group), First lien senior secured revolving loan2025-03-310001747777AmeriLife Holdings LLC, First lien senior secured revolving loan2025-03-310001747777Anaplan, Inc., First lien senior secured revolving loan2025-03-310001747777Appfire Technologies, LLC, First lien senior secured revolving loan2025-03-310001747777Aptean Acquiror, Inc. (dba Aptean), First lien senior secured revolving loan2025-03-310001747777Artifact Bidco, Inc. (dba Avetta), First lien senior secured revolving loan2025-03-310001747777Associations, Inc., First lien senior secured revolving loan, 7/20282025-03-310001747777Azurite Intermediate Holdings, Inc. (dba Alteryx, Inc.), First lien senior secured revolving loan2025-03-310001747777Bamboo US BidCo LLC, First lien senior secured revolving loan2025-03-310001747777Bayshore Intermediate #2, L.P. (dba Boomi), First lien senior secured revolving loan2025-03-310001747777BCPE Osprey Buyer, Inc. (dba PartsSource), First lien senior secured revolving loan, 8/20262025-03-310001747777BCTO BSI Buyer, Inc. (dba Buildertrend), First lien senior secured revolving loan2025-03-310001747777BTRS Holdings Inc. (dba Billtrust), First lien senior secured revolving loan2025-03-310001747777Cambrex Corporation, First lien senior secured revolving loan2025-03-310001747777Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.), First lien senior secured revolving loan2025-03-310001747777CCM Midco, LLC (f/k/a Cresset Capital Management, LLC), First lien senior secured revolving loan2025-03-310001747777Certinia Inc., First lien senior secured revolving loan2025-03-310001747777CivicPlus, LLC, First lien senior secured revolving loan2025-03-310001747777CoreTrust Purchasing Group LLC, First lien senior secured revolving loan2025-03-310001747777Coupa Holdings, LLC, First lien senior secured revolving loan2025-03-310001747777Creek Parent, Inc. (dba Catalent), First lien senior secured revolving loan2025-03-310001747777Crewline Buyer, Inc. (dba New Relic), First lien senior secured revolving loan2025-03-310001747777CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant), First lien senior secured revolving loan2025-03-310001747777Delinea Buyer, Inc. (f/k/a Centrify), First lien senior secured revolving loan2025-03-310001747777Disco Parent, Inc. (dba Duck Creek Technologies, Inc.), First lien senior secured revolving loan2025-03-310001747777EET Buyer, Inc. (dba e-Emphasys), First lien senior secured revolving loan2025-03-310001747777Einstein Parent, Inc. (dba Smartsheet), First lien senior secured revolving loan2025-03-310001747777Entrata, Inc., First lien senior secured revolving loan2025-03-310001747777EresearchTechnology, Inc. (dba Clario), First lien senior secured revolving loan2025-03-310001747777Finastra USA, Inc., First lien senior secured revolving loan2025-03-310001747777Forescout Technologies, Inc., First lien senior secured revolving loan2025-03-310001747777Foundation Consumer Brands, LLC, First lien senior secured revolving loan2025-03-310001747777Fullsteam Operations, LLC, First lien senior secured revolving loan2025-03-310001747777Gainsight, Inc., First lien senior secured revolving loan2025-03-310001747777Galway Borrower LLC, First lien senior secured revolving loan2025-03-310001747777Gerson Lehrman Group, Inc., First lien senior secured revolving loan2025-03-310001747777GI Ranger Intermediate, LLC (dba Rectangle Health), First lien senior secured revolving loan2025-03-310001747777Granicus, Inc., First lien senior secured revolving loan2025-03-310001747777GS Acquisitionco, Inc. (dba insightsoftware), First lien senior secured revolving loan2025-03-310001747777H&F Opportunities LUX III S.À R.L (dba Checkmarx), First lien senior secured revolving loan2025-03-310001747777Hyland Software, Inc., First lien senior secured revolving loan2025-03-310001747777Icefall Parent, Inc. (dba EngageSmart), First lien senior secured revolving loan2025-03-310001747777Indikami Bidco, LLC (dba IntegriChain), First lien senior secured revolving loan, 6/20302025-03-310001747777Integrated Specialty Coverages, LLC, First lien senior secured revolving loan2025-03-310001747777Integrity Marketing Acquisition, LLC, First lien senior secured revolving loan2025-03-310001747777Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.), First lien senior secured revolving loan2025-03-310001747777Interoperability Bidco, Inc. (dba Lyniate), First lien senior secured revolving loan2025-03-310001747777IRI Group Holdings, Inc. (f/k/a Circana Group, L.P. (f/k/a The NPD Group, L.P.)), First lien senior secured revolving loan, 12/20272025-03-310001747777JS Parent, Inc. (dba Jama Software), First lien senior secured revolving loan2025-03-310001747777Juniper Square, Inc., First lien senior secured revolving loan2025-03-310001747777KWOL Acquisition, Inc. (dba Worldwide Clinical Trials), First lien senior secured revolving loan2025-03-310001747777Litera Bidco LLC, First lien senior secured revolving loan2025-03-310001747777LogRhythm, Inc., First lien senior secured revolving loan2025-03-310001747777Magnet Forensics, LLC (f/k/a Grayshift, LLC), First lien senior secured revolving loan2025-03-310001747777ManTech International Corporation, First lien senior secured revolving loan2025-03-310001747777MINDBODY, Inc., First lien senior secured revolving loan2025-03-310001747777Ministry Brands Holdings, LLC, First lien senior secured revolving loan2025-03-310001747777Minotaur Acquisition, Inc. (dba Inspira Financial), First lien senior secured revolving loan2025-03-310001747777Monotype Imaging Holdings Inc., First lien senior secured revolving loan2025-03-310001747777Natural Partners, LLC, First lien senior secured revolving loan2025-03-310001747777Neptune Holdings, Inc. (dba NexTech), First lien senior secured revolving loan2025-03-310001747777NMI Acquisitionco, Inc. (dba Network Merchants), First lien senior secured revolving loan2025-03-310001747777OneOncology, LLC, First lien senior secured revolving loan2025-03-310001747777Oranje Holdco, Inc. (dba KnowBe4), First lien senior secured revolving loan2025-03-310001747777Packaging Coordinators Midco, Inc., First lien senior secured revolving loan2025-03-310001747777PDI TA Holdings, Inc., First lien senior secured revolving loan2025-03-310001747777PetVet Care Centers, LLC, First lien senior secured revolving loan2025-03-310001747777Phantom Purchaser, Inc., First lien senior secured revolving loan2025-03-310001747777Ping Identity Holding Corp., First lien senior secured revolving loan2025-03-310001747777Pye-Barker Fire & Safety, LLC, First lien senior secured revolving loan, 5/20302025-03-310001747777QAD, Inc., First lien senior secured revolving loan2025-03-310001747777Relativity ODA LLC, First lien senior secured revolving loan2025-03-310001747777RL Datix Holdings (USA), Inc., First lien senior secured revolving loan2025-03-310001747777SailPoint Technologies Holdings, Inc., First lien senior secured revolving loan2025-03-310001747777Salinger Bidco Inc. (dba Surgical Information Systems), First lien senior secured revolving loan2025-03-310001747777Securonix, Inc., First lien senior secured revolving loan, 4/20282025-03-310001747777Sensor Technology Topco, Inc. (dba Humanetics), First lien senior secured revolving loan, 5/20282025-03-310001747777Severin Acquisition, LLC (dba PowerSchool), First lien senior secured revolving loan, 10/20312025-03-310001747777Simplicity Financial Marketing Group Holdings, Inc., First lien senior secured revolving loan2025-03-310001747777Smarsh Inc., First lien senior secured revolving loan, 2/20292025-03-310001747777Spaceship Purchaser, Inc. (dba Squarespace), First lien senior secured revolving loan2025-03-310001747777Talon MidCo 2 Limited, First lien senior secured revolving loan2025-03-310001747777Tamarack Intermediate, L.L.C. (dba Verisk 3E), First lien senior secured revolving loan2025-03-310001747777TC Holdings, LLC (dba TrialCard), First lien senior secured revolving loan2025-03-310001747777Thunder Purchaser, Inc. (dba Vector Solutions), First lien senior secured revolving loan2025-03-310001747777Tricentis Operations Holdings, Inc., First lien senior secured revolving loan2025-03-310001747777Velocity HoldCo III Inc. (dba VelocityEHS), First lien senior secured revolving loan2025-03-310001747777When I Work, Inc., First lien senior secured revolving loan2025-03-310001747777Zendesk, Inc., First lien senior secured revolving loan2025-03-310001747777Chrome Investors LP, LP Interest, N/A2025-03-310001747777Pluralsight, LLC, First lien senior secured delayed draw term loan2025-03-310001747777Walker Edison Furniture Company LLC, First lien senior secured delayed draw term loan2025-03-310001747777Non-controlled/affiliated - revolving debt commitments2025-03-310001747777Pluralsight, LLC, First lien senior secured revolving loan2025-03-310001747777Walker Edison Furniture Company LLC, First lien senior secured revolving loan2025-03-310001747777Non-controlled/affiliated - equity commitments2025-03-310001747777AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC, LLC Interest, N/A2025-03-310001747777AAM Series 2.1 Aviation Feeder, LLC, LLC Interest, N/A2025-03-310001747777LSI Financing LLC, Common Equity, N/A2025-03-310001747777Total Portfolio Company Commitments2025-03-310001747777AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC2024-12-310001747777AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC2025-01-012025-03-310001747777AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC2025-03-310001747777AAM Series 2.1 Aviation Feeder, LLC2024-12-310001747777AAM Series 2.1 Aviation Feeder, LLC2025-01-012025-03-310001747777AAM Series 2.1 Aviation Feeder, LLC2025-03-310001747777Coherent Group LTD2024-12-310001747777Coherent Group LTD2025-01-012025-03-310001747777Coherent Group LTD2025-03-310001747777Fifth Season Investments LLC2024-12-310001747777Fifth Season Investments LLC2025-01-012025-03-310001747777Fifth Season Investments LLC2025-03-310001747777Help HP SCF Investor, LP2024-12-310001747777Help HP SCF Investor, LP2025-01-012025-03-310001747777Help HP SCF Investor, LP2025-03-310001747777LSI Financing 1 DAC2024-12-310001747777LSI Financing 1 DAC2025-01-012025-03-310001747777LSI Financing 1 DAC2025-03-310001747777LSI Financing LLC2024-12-310001747777LSI Financing LLC2025-01-012025-03-310001747777LSI Financing LLC2025-03-310001747777Pluralsight, LLC2024-12-310001747777Pluralsight, LLC2025-01-012025-03-310001747777Pluralsight, LLC2025-03-310001747777Securiti, Inc.2024-12-310001747777Securiti, Inc.2025-01-012025-03-310001747777Securiti, Inc.2025-03-310001747777Signifyd Inc.2024-12-310001747777Signifyd Inc.2025-01-012025-03-310001747777Signifyd Inc.2025-03-310001747777Walker Edison Furniture Company LLC2024-12-310001747777Walker Edison Furniture Company LLC2025-01-012025-03-310001747777Walker Edison Furniture Company LLC2025-03-310001747777Blue Owl Credit SLF LLC(c)2024-12-310001747777Blue Owl Credit SLF LLC(c)2025-01-012025-03-310001747777Blue Owl Credit SLF LLC(c)2025-03-310001747777Revolut Ribbit Holdings, LLC2024-12-310001747777Revolut Ribbit Holdings, LLC2025-01-012025-03-310001747777Revolut Ribbit Holdings, LLC2025-03-310001747777ortf:HarnessInc.Memberus-gaap:RetainedInvestmentInBusinessMember2025-03-310001747777ManTech International Corporation, First lien senior secured loan2024-12-310001747777Peraton Corp., Second lien senior secured loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:AerospaceSectorMemberus-gaap:DebtSecuritiesMember2024-12-310001747777AI Titan Parent, Inc. (dba Prometheus Group), First lien senior secured loan2024-12-310001747777AlphaSense, Inc., First lien senior secured loan2024-12-310001747777Anaplan, Inc., First lien senior secured loan2024-12-310001747777Armstrong Bidco Limited, First lien senior secured GBP term loan2024-12-310001747777Artifact Bidco, Inc. (dba Avetta), First lien senior secured loan2024-12-310001747777Avalara, Inc., First lien senior secured loan2024-12-310001747777Boxer Parent Company Inc. (f/k/a BMC), First lien senior secured loan2024-12-310001747777Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.), First lien senior secured loan2024-12-310001747777CivicPlus, LLC, First lien senior secured loan2024-12-310001747777Coupa Holdings, LLC, First lien senior secured loan2024-12-310001747777CP PIK DEBT ISSUER, LLC (dba CivicPlus, LLC), Unsecured notes2024-12-310001747777Diamondback Acquisition, Inc. (dba Sphera), First lien senior secured loan2024-12-310001747777Fullsteam Operations, LLC, First lien senior secured loan2024-12-310001747777Fullsteam Operations, LLC, First lien senior secured delayed draw term loan2024-12-310001747777Gainsight, Inc., First lien senior secured loan2024-12-310001747777Granicus, Inc., First lien senior secured loan2024-12-310001747777Granicus, Inc., First lien senior secured delayed draw term loan2024-12-310001747777GS Acquisitionco, Inc. (dba insightsoftware), First lien senior secured loan2024-12-310001747777JS Parent, Inc. (dba Jama Software), First lien senior secured loan2024-12-310001747777Magnet Forensics, LLC (f/k/a Grayshift, LLC), First lien senior secured loan2024-12-310001747777Ministry Brands Holdings, LLC, First lien senior secured loan2024-12-310001747777Simpler Postage, Inc. (dba Easypost), First lien senior secured loan2024-12-310001747777Tamarack Intermediate, L.L.C. (dba Verisk 3E), First lien senior secured loan2024-12-310001747777Velocity HoldCo III Inc. (dba VelocityEHS), First lien senior secured loan2024-12-310001747777XPLOR T1, LLC, First lien senior secured loan2024-12-310001747777Zendesk, Inc., First lien senior secured loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:ApplicationSoftwareMemberus-gaap:DebtSecuritiesMember2024-12-310001747777Finastra USA, Inc., First lien senior secured loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:BanksMemberus-gaap:DebtSecuritiesMember2024-12-310001747777EET Buyer, Inc. (dba e-Emphasys), First lien senior secured loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:BuildingProductsMemberus-gaap:DebtSecuritiesMember2024-12-310001747777Associations Finance, Inc., Unsecured notes2024-12-310001747777Associations, Inc., First lien senior secured loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:BuildingsRealEstateMemberus-gaap:DebtSecuritiesMember2024-12-310001747777SimpliSafe Holding Corporation, First lien senior secured loan2024-12-310001747777Pye-Barker Fire & Safety, LLC, First lien senior secured loan2024-12-310001747777Pye-Barker Fire & Safety, LLC, First lien senior secured revolving loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:CommercialServicesSuppliesMemberus-gaap:DebtSecuritiesMember2024-12-310001747777Klarna Holding AB, Subordinated Floating Rate Notes2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:ConsumerFinanceMemberus-gaap:DebtSecuritiesMember2024-12-310001747777Icefall Parent, Inc. (dba EngageSmart), First lien senior secured loan2024-12-310001747777Litera Bidco LLC, First lien senior secured loan2024-12-310001747777Relativity ODA LLC, First lien senior secured loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:DiversifiedConsumerServicesMemberus-gaap:DebtSecuritiesMember2024-12-310001747777AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC, First lien senior secured loan2024-12-310001747777AAM Series 2.1 Aviation Feeder, LLC, First lien senior secured loan2024-12-310001747777Blackhawk Network Holdings, Inc., First lien senior secured loan2024-12-310001747777BTRS HOLDINGS INC. (dba Billtrust), First lien senior secured loan2024-12-310001747777Computer Services, Inc. (dba CSI), First lien senior secured loan 12024-12-310001747777Computer Services, Inc. (dba CSI), First lien senior secured loan 22024-12-310001747777Hg Genesis 8 Sumoco Limited, Unsecured facility2024-12-310001747777Hg Genesis 9 SumoCo Limited, Unsecured facility2024-12-310001747777Hg Saturn Luchaco Limited, Unsecured facility2024-12-310001747777Minotaur Acquisition, Inc. (dba Inspira Financial), First lien senior secured loan2024-12-310001747777NMI Acquisitionco, Inc. (dba Network Merchants), First lien senior secured loan2024-12-310001747777Smarsh Inc., First lien senior secured loan2024-12-310001747777Smarsh Inc., First lien senior secured revolving loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:DiversifiedFinancialServicesMemberus-gaap:DebtSecuritiesMember2024-12-310001747777Aerosmith Bidco 1 Limited (dba Audiotonix), First lien senior secured loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:ElectricalEquipmentMemberus-gaap:DebtSecuritiesMember2024-12-310001747777Storable, Inc., First lien senior secured loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:EquityRealEstateInvestmentTrustsREITsMemberus-gaap:DebtSecuritiesMember2024-12-310001747777IRI Group Holdings, Inc. (f/k/a Circana Group, L.P. (f/k/a The NPD Group, L.P.)), First lien senior secured loan2024-12-310001747777IRI Group Holdings, Inc. (f/k/a Circana Group, L.P. (f/k/a The NPD Group, L.P.)), First lien senior secured revolving loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:FoodStaplesRetailingMemberus-gaap:DebtSecuritiesMember2024-12-310001747777KWOL Acquisition Inc. (dba Worldwide Clinical Trials), First lien senior secured loan2024-12-310001747777PetVet Care Centers, LLC, First lien senior secured loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:HealthCareProvidersServicesMemberus-gaap:DebtSecuritiesMember2024-12-310001747777BCPE Osprey Buyer, Inc. (dba PartsSource), First lien senior secured loan2024-12-310001747777BCPE Osprey Buyer, Inc. (dba PartsSource), First lien senior secured delayed draw term loan2024-12-310001747777BCPE Osprey Buyer, Inc. (dba PartsSource), First lien senior secured revolving loan2024-12-310001747777CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant), First lien senior secured loan2024-12-310001747777GI Ranger Intermediate, LLC (dba Rectangle Health), First lien senior secured loan2024-12-310001747777GI Ranger Intermediate, LLC (dba Rectangle Health), First lien senior secured revolving loan2024-12-310001747777Greenway Health, LLC, First lien senior secured loan2024-12-310001747777Hyland Software, Inc., First lien senior secured loan2024-12-310001747777Indikami Bidco, LLC (dba IntegriChain), First lien senior secured loan2024-12-310001747777Indikami Bidco, LLC (dba IntegriChain), First lien senior secured delayed draw term loan2024-12-310001747777Indikami Bidco, LLC (dba IntegriChain), First lien senior secured revolving loan2024-12-310001747777Inovalon Holdings, Inc., First lien senior secured loan2024-12-310001747777Inovalon Holdings, Inc., Second lien senior secured loan2024-12-310001747777Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.), First lien senior secured loan2024-12-310001747777Interoperability Bidco, Inc. (dba Lyniate), First lien senior secured loan2024-12-310001747777Interoperability Bidco, Inc. (dba Lyniate), First lien senior secured revolving loan2024-12-310001747777Neptune Holdings, Inc. (dba NexTech), First lien senior secured loan2024-12-310001747777RL Datix Holdings (USA), Inc., First lien senior secured loan2024-12-310001747777RL Datix Holdings (USA), Inc., First lien senior secured revolving loan2024-12-310001747777RL Datix Holdings (USA), Inc., First lien senior secured GBP term loan2024-12-310001747777Salinger Bidco Inc. (dba Surgical Information Systems), First lien senior secured loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:HealthcareTechnologyMemberus-gaap:DebtSecuritiesMember2024-12-310001747777MINDBODY, Inc., First lien senior secured loan2024-12-310001747777Par Technology Corporation, First lien senior secured loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:HotelsRestaurantsLeisureMemberus-gaap:DebtSecuritiesMember2024-12-310001747777BCTO BSI Buyer, Inc. (dba Buildertrend), First lien senior secured loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:HouseholdDurablesMemberus-gaap:DebtSecuritiesMember2024-12-310001747777Aptean Acquiror, Inc. (dba Aptean), First lien senior secured loan2024-12-310001747777QAD, Inc., First lien senior secured loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:IndustrialConglomeratesMemberus-gaap:DebtSecuritiesMember2024-12-310001747777Asurion, LLC, Second lien senior secured loan2024-12-310001747777Diamond Insure Bidco (dba Acturis), First lien senior secured EUR term loan2024-12-310001747777Diamond Insure Bidco (dba Acturis), First lien senior secured GBP term loan2024-12-310001747777Disco Parent, Inc. (dba Duck Creek Technologies, Inc.), First lien senior secured loan2024-12-310001747777Integrity Marketing Acquisition, LLC, First lien senior secured loan2024-12-310001747777Simplicity Financial Marketing Group Holdings, Inc., First lien senior secured loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:InsuranceSectorMemberus-gaap:DebtSecuritiesMember2024-12-310001747777Aurelia Netherlands B.V., First lien senior secured EUR term loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:InternetDirectMarketingRetailMemberus-gaap:DebtSecuritiesMember2024-12-310001747777Kaseya Inc., First lien senior secured loan2024-12-310001747777Kaseya Inc., First lien senior secured delayed draw term loan2024-12-310001747777Severin Acquisition, LLC (dba PowerSchool), First lien senior secured loan2024-12-310001747777Spaceship Purchaser, Inc. (dba Squarespace), First lien senior secured loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:TechnologySectorMemberus-gaap:DebtSecuritiesMember2024-12-310001747777Bamboo US BidCo LLC, First lien senior secured EUR term loan2024-12-310001747777Bamboo US BidCo LLC, First lien senior secured loan2024-12-310001747777Creek Parent, Inc. (dba Catalent), First lien senior secured loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:LifeSciencesToolsServicesMemberus-gaap:DebtSecuritiesMember2024-12-310001747777Monotype Imaging Holdings Inc., First lien senior secured loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:MediaMemberus-gaap:DebtSecuritiesMember2024-12-310001747777PDI TA Holdings, Inc., First lien senior secured loan2024-12-310001747777PDI TA Holdings, Inc., First lien senior secured delayed draw term loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:MultilineRetailMemberus-gaap:DebtSecuritiesMember2024-12-310001747777Certinia Inc., First lien senior secured loan2024-12-310001747777CloudPay, Inc., First lien senior secured loan2024-12-310001747777Cornerstone OnDemand, Inc., Second lien senior secured loan2024-12-310001747777Gerson Lehrman Group, Inc., First lien senior secured loan2024-12-310001747777Thunder Purchaser, Inc. (dba Vector Solutions), First lien senior secured loan2024-12-310001747777TK Operations Ltd (dba Travelperk, Inc.), First lien senior secured loan2024-12-310001747777When I Work, Inc., First lien senior secured loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:ProfessionalServicesMemberus-gaap:DebtSecuritiesMember2024-12-310001747777Entrata, Inc., First lien senior secured loan2024-12-310001747777RealPage, Inc., First lien senior secured loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:RealEstateManagementDevelopmentMemberus-gaap:DebtSecuritiesMember2024-12-310001747777Acquia Inc., First lien senior secured loan2024-12-310001747777Activate Holdings (US) Corp. (dba Absolute Software), First lien senior secured loan2024-12-310001747777Arctic Wolf Networks, Inc., Senior convertible notes2024-12-310001747777Azurite Intermediate Holdings, Inc. (dba Alteryx, Inc.), First lien senior secured loan2024-12-310001747777Bayshore Intermediate #2, L.P. (dba Boomi), First lien senior secured loan2024-12-310001747777Crewline Buyer, Inc. (dba New Relic), First lien senior secured loan2024-12-310001747777Databricks, Inc., First lien senior secured loan2024-12-310001747777Delinea Buyer, Inc. (f/k/a Centrify), First lien senior secured loan2024-12-310001747777Delta TopCo, Inc. (dba Infoblox, Inc.), Second lien senior secured loan2024-12-310001747777Forescout Technologies, Inc., First lien senior secured loan2024-12-310001747777H&F Opportunities LUX III S.À R.L (dba Checkmarx), First lien senior secured loan2024-12-310001747777Ivanti Software, Inc., Second lien senior secured loan2024-12-310001747777LogRhythm, Inc., First lien senior secured loan2024-12-310001747777Oranje Holdco, Inc. (dba KnowBe4), First lien senior secured loan 12024-12-310001747777Oranje Holdco, Inc. (dba KnowBe4), First lien senior secured loan 22024-12-310001747777Ping Identity Holding Corp., First lien senior secured loan2024-12-310001747777Rubrik, Inc., First lien senior secured loan2024-12-310001747777SailPoint Technologies Holdings, Inc., First lien senior secured loan2024-12-310001747777Securonix, Inc., First lien senior secured loan2024-12-310001747777Securonix, Inc., First lien senior secured revolving loan2024-12-310001747777Sitecore Holding III A/S, First lien senior secured EUR term loan2024-12-310001747777Sitecore USA, Inc., First lien senior secured loan2024-12-310001747777Sitecore Holding III A/S, First lien senior secured loan2024-12-310001747777Talon MidCo 2 Limited, First lien senior secured loan2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:SystemsSoftwareMemberus-gaap:DebtSecuritiesMember2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:DebtSecuritiesMember2024-12-310001747777Space Exploration Technologies Corp., Class A Common Stock2024-12-310001747777Space Exploration Technologies Corp., Class C Common Stock2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:AerospaceSectorMemberus-gaap:EquitySecuritiesMember2024-12-3100017477776Sense Insights, Inc., Series E-1 Preferred Stock2024-12-310001747777Alpha Partners Technology Merger Corp, Common stock2024-12-310001747777Alpha Partners Technology Merger Corp, Warrants2024-12-310001747777AlphaSense, LLC, Series E Preferred Shares2024-12-310001747777Diligent Preferred Issuer, Inc. (dba Diligent Corporation), Preferred Stock2024-12-310001747777EShares, Inc. (dba Carta), Series E Preferred Stock2024-12-310001747777Insight CP (Blocker) Holdings, L.P. (dba CivicPlus, LLC), LP Interest2024-12-310001747777Bird Holding B.V. (fka MessageBird Holding B.V.), Extended Series C Warrants2024-12-310001747777Nylas, Inc., Series C Preferred Stock2024-12-310001747777Project Alpine Co-Invest Fund, LP, LP Interest2024-12-310001747777Saturn Ultimate, Inc., Common stock2024-12-310001747777Simpler Postage, Inc. (dba Easypost), Warrants2024-12-310001747777Zoro TopCo, Inc., Series A Preferred Equity2024-12-310001747777Zoro TopCo, L.P., Class A Common Units2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:ApplicationSoftwareMemberus-gaap:EquitySecuritiesMember2024-12-310001747777Dodge Construction Network Holdings, L.P., Series A Preferred Units2024-12-310001747777Dodge Construction Network Holdings, L.P., Class A-2 Common Units2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:ConstructionSectorMemberus-gaap:EquitySecuritiesMember2024-12-310001747777SLA Eclipse Co-Invest, L.P., LP Interest2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:DiversifiedConsumerServicesMemberus-gaap:EquitySecuritiesMember2024-12-310001747777AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC, LLC Interest2024-12-310001747777AAM Series 2.1 Aviation Feeder, LLC, LLC Interest2024-12-310001747777Amergin Asset Management, LLC, Class A Units2024-12-310001747777Brex, Inc., Preferred Stock2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:DiversifiedFinancialServicesMemberus-gaap:EquitySecuritiesMember2024-12-310001747777KWOL Acquisition Inc. (dba Worldwide Clinical Trials), Class A Interest2024-12-310001747777Romulus Intermediate Holdings 1 Inc. (dba PetVet Care Centers), Series A Preferred Stock2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:HealthCareProvidersServicesMemberus-gaap:EquitySecuritiesMember2024-12-310001747777BEHP Co-Investor II, L.P., LP Interest2024-12-310001747777Minerva Holdco, Inc., Senior A Preferred Stock2024-12-310001747777WP Irving Co-Invest, L.P., Partnership Units2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:HealthcareTechnologyMemberus-gaap:EquitySecuritiesMember2024-12-310001747777VEPF Torreys Aggregator, LLC (dba MINDBODY, Inc.), Series A Preferred Stock2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:HotelsRestaurantsLeisureMemberus-gaap:EquitySecuritiesMember2024-12-310001747777Kajabi Holdings, LLC, Senior Preferred Class D Units2024-12-310001747777Klaviyo, Inc., Series B Common Stock2024-12-310001747777Linked Store Cayman Ltd. (dba Nuvemshop), Series E Preferred Stock2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:InternetDirectMarketingRetailMemberus-gaap:EquitySecuritiesMember2024-12-310001747777E2Open Parent Holdings, Inc., Class A Common Stock2024-12-310001747777JumpCloud, Inc., Series B Preferred Stock2024-12-310001747777JumpCloud, Inc., Series F Preferred Stock2024-12-310001747777Knockout Intermediate Holdings I Inc. (dba Kaseya Inc.), Perpetual Preferred Stock2024-12-310001747777Replicated, Inc., Series C Preferred Stock2024-12-310001747777WMC Bidco, Inc. (dba West Monroe), Senior Preferred Stock2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:TechnologySectorMemberus-gaap:EquitySecuritiesMember2024-12-310001747777XOMA Corporation, Warrants2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:PharmaceuticalsMemberus-gaap:EquitySecuritiesMember2024-12-310001747777BCTO WIW Holdings, Inc. (dba When I Work), Class A Common Stock2024-12-310001747777CloudPay, Inc., Series E Preferred Stock2024-12-310001747777Sunshine Software Holdings, Inc. (dba Cornerstone OnDemand, Inc.), Series A Preferred Stock2024-12-310001747777Thunder Topco L.P. (dba Vector Solutions), Common Units2024-12-310001747777TravelPerk, Inc., Warrants2024-12-310001747777Vestwell Holdings, Inc., Series D Preferred Stock2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:ProfessionalServicesMemberus-gaap:EquitySecuritiesMember2024-12-310001747777Bolt Technology OÜ, Preferred Stock2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:RoadRailMemberus-gaap:EquitySecuritiesMember2024-12-310001747777Algolia, Inc., Series D Preferred Stock2024-12-310001747777Algolia, Inc., Series C Preferred Stock2024-12-310001747777Arctic Wolf Networks, Inc., Preferred Stock2024-12-310001747777Brooklyn Lender Co-Invest 2, L.P. (dba Boomi), Common Units2024-12-310001747777Circle Internet Services, Inc., Warrants2024-12-310001747777Circle Internet Services, Inc., Series D Preferred Stock2024-12-310001747777Circle Internet Services, Inc., Series E Preferred Stock2024-12-310001747777Circle Internet Services, Inc., Series F Preferred Stock2024-12-310001747777Circle Internet Services, Inc., Subordinated Convertible Security2024-12-310001747777Elliott Alto Co-Investor Aggregator L.P., LP Interest2024-12-310001747777Excalibur CombineCo, L.P., Class A Units2024-12-310001747777Halo Parent Newco, LLC, Class H PIK Preferred Equity2024-12-310001747777HARNESS INC., Series D Preferred Stock2024-12-310001747777Illumio, Inc., Common stock2024-12-310001747777Illumio, Inc., Series F Preferred Stock2024-12-310001747777Project Hotel California Co-Invest Fund, L.P., LP Interest2024-12-310001747777Securiti, Inc., Series C Preferred Shares2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:SystemsSoftwareMemberus-gaap:EquitySecuritiesMember2024-12-310001747777Blend Labs, Inc., Warrants2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:ThriftsMortgageFinanceMemberus-gaap:EquitySecuritiesMember2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:EquitySecuritiesMember2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:TotalCompanyInvestmentsIncludingMiscellaneousDebtCommitmentsMember2024-12-310001747777Walker Edison Furniture Company LLC, First lien senior secured revolving loan2024-12-310001747777Walker Edison Furniture Company LLC, First lien senior secured delayed draw term loan2024-12-310001747777Walker Edison Furniture Company LLC, First lien senior secured loan2024-12-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberortf:InternetDirectMarketingRetailMemberus-gaap:DebtSecuritiesMember2024-12-310001747777Pluralsight, LLC, First lien senior secured loan 12024-12-310001747777Pluralsight, LLC, First lien senior secured loan 22024-12-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberus-gaap:TechnologySectorMemberus-gaap:DebtSecuritiesMember2024-12-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberus-gaap:DebtSecuritiesMember2024-12-310001747777Fifth Season Investments LLC, Class A Units2024-12-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberus-gaap:InsuranceSectorMemberus-gaap:EquitySecuritiesMember2024-12-310001747777Signifyd Inc., Preferred equity2024-12-310001747777Walker Edison Holdco LLC, Common Units2024-12-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberortf:InternetDirectMarketingRetailMemberus-gaap:EquitySecuritiesMember2024-12-310001747777Paradigmatic Holdco LLC (dba Pluralsight), Common stock2024-12-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberus-gaap:TechnologySectorMemberus-gaap:EquitySecuritiesMember2024-12-310001747777LSI Financing 1 DAC, Preferred equity2024-12-310001747777LSI Financing LLC, Common Equity2024-12-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberortf:PharmaceuticalsMemberus-gaap:EquitySecuritiesMember2024-12-310001747777Help HP SCF Investor, LP, LP Interest2024-12-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberortf:SystemsSoftwareMemberus-gaap:EquitySecuritiesMember2024-12-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberus-gaap:EquitySecuritiesMember2024-12-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberortf:TotalCompanyInvestmentsIncludingMiscellaneousDebtCommitmentsMember2024-12-310001747777Revolut Ribbit Holdings, LLC, LLC Interest2024-12-310001747777us-gaap:InvestmentAffiliatedIssuerControlledMemberortf:DiversifiedFinancialServicesMemberus-gaap:EquitySecuritiesMember2024-12-310001747777Blue Owl Credit SLF LLC, LLC Interest2024-12-310001747777us-gaap:InvestmentAffiliatedIssuerControlledMemberortf:JointVenturesMemberus-gaap:EquitySecuritiesMember2024-12-310001747777us-gaap:InvestmentAffiliatedIssuerControlledMemberus-gaap:EquitySecuritiesMember2024-12-310001747777us-gaap:InvestmentAffiliatedIssuerControlledMemberortf:TotalCompanyInvestmentsIncludingMiscellaneousDebtCommitmentsMember2024-12-310001747777us-gaap:InvestmentUnaffiliatedIssuerMemberortf:MiscellaneousDebtCommitmentsNettingMember2024-12-310001747777Aerosmith Bidco 1 Limited (dba Audiotonix), First lien senior secured delayed draw term loan2024-12-310001747777AI Titan Parent, Inc. (dba Prometheus Group), First lien senior secured delayed draw term loan2024-12-310001747777AlphaSense, Inc., First lien senior secured delayed draw term loan 12024-12-310001747777AlphaSense, Inc., First lien senior secured delayed draw term loan 22024-12-310001747777Aptean Acquiror, Inc. (dba Aptean), First lien senior secured delayed draw term loan2024-12-310001747777Artifact Bidco, Inc. (dba Avetta), First lien senior secured delayed draw term loan2024-12-310001747777Associations, Inc., First lien senior secured delayed draw term loan2024-12-310001747777Bamboo US BidCo LLC, First lien senior secured delayed draw term loan 12024-12-310001747777Bamboo US BidCo LLC, First lien senior secured delayed draw term loan 22024-12-310001747777BCPE Osprey Buyer, Inc. (dba PartsSource), First lien senior secured delayed draw term loan, 10/20252024-12-310001747777Computer Services, Inc. (dba CSI), First lien senior secured delayed draw term loan2024-12-310001747777Coupa Holdings, LLC, First lien senior secured delayed draw term loan2024-12-310001747777CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant), First lien senior secured delayed draw term loan2024-12-310001747777Databricks, Inc., First lien senior secured delayed draw term loan2024-12-310001747777EET Buyer, Inc. (dba e-Emphasys), First lien senior secured delayed draw term loan2024-12-310001747777Fullsteam Operations, LLC, First lien senior secured delayed draw term loan 12024-12-310001747777Fullsteam Operations, LLC, First lien senior secured delayed draw term loan 22024-12-310001747777GS Acquisitionco, Inc. (dba insightsoftware), First lien senior secured delayed draw term loan2024-12-310001747777Indikami Bidco, LLC (dba IntegriChain), First lien senior secured delayed draw term loan, 12/20252024-12-310001747777Integrity Marketing Acquisition, LLC, First lien senior secured delayed draw term loan2024-12-310001747777Interoperability Bidco, Inc. (dba Lyniate), First lien senior secured delayed draw term loan2024-12-310001747777Kaseya Inc., First lien senior secured delayed draw term loan, 6/20252024-12-310001747777Litera Bidco LLC, First lien senior secured delayed draw term loan 12024-12-310001747777Litera Bidco LLC, First lien senior secured delayed draw term loan 22024-12-310001747777ManTech International Corporation, First lien senior secured delayed draw term loan2024-12-310001747777Minotaur Acquisition, Inc. (dba Inspira Financial), First lien senior secured delayed draw term loan2024-12-310001747777Monotype Imaging Holdings Inc., First lien senior secured delayed draw term loan2024-12-310001747777PDI TA Holdings, Inc., First lien senior secured delayed draw term loan, 2/20262024-12-310001747777PetVet Care Centers, LLC, First lien senior secured delayed draw term loan2024-12-310001747777Pluralsight, LLC, First lien senior secured delayed draw term loan2024-12-310001747777Pye-Barker Fire & Safety, LLC, First lien senior secured delayed draw term loan2024-12-310001747777RL Datix Holdings (USA), Inc., First lien senior secured delayed draw term loan2024-12-310001747777Rubrik, Inc., First lien senior secured delayed draw term loan2024-12-310001747777Salinger Bidco Inc. (dba Surgical Information Systems), First lien senior secured delayed draw term loan2024-12-310001747777Severin Acquisition, LLC (dba PowerSchool), First lien senior secured delayed draw term loan2024-12-310001747777Simpler Postage, Inc. (dba Easypost), First lien senior secured delayed draw term loan2024-12-310001747777Simplicity Financial Marketing Group Holdings, Inc., First lien senior secured delayed draw term loan2024-12-310001747777Smarsh Inc., First lien senior secured delayed draw term loan2024-12-310001747777Spaceship Purchaser, Inc. (dba Squarespace), First lien senior secured delayed draw term loan 12024-12-310001747777Spaceship Purchaser, Inc. (dba Squarespace), First lien senior secured delayed draw term loan 22024-12-310001747777Zendesk, Inc., First lien senior secured delayed draw term loan2024-12-310001747777Acquia Inc., First lien senior secured revolving loan2024-12-310001747777Activate Holdings (US) Corp. (dba Absolute Software), First lien senior secured revolving loan2024-12-310001747777Aerosmith Bidco 1 Limited (dba Audiotonix), First lien senior secured revolving loan2024-12-310001747777AI Titan Parent, Inc. (dba Prometheus Group), First lien senior secured revolving loan2024-12-310001747777Anaplan, Inc., First lien senior secured revolving loan2024-12-310001747777Aptean Acquiror, Inc. (dba Aptean), First lien senior secured revolving loan2024-12-310001747777Artifact Bidco, Inc. (dba Avetta), First lien senior secured revolving loan2024-12-310001747777Associations, Inc., First lien senior secured revolving loan2024-12-310001747777Avalara, Inc., First lien senior secured revolving loan2024-12-310001747777Azurite Intermediate Holdings, Inc. (dba Alteryx, Inc.), First lien senior secured revolving loan2024-12-310001747777Bamboo US BidCo LLC, First lien senior secured revolving loan2024-12-310001747777Bayshore Intermediate #2, L.P. (dba Boomi), First lien senior secured revolving loan2024-12-310001747777BCPE Osprey Buyer, Inc. (dba PartsSource), First lien senior secured revolving loan, 8/20262024-12-310001747777BCTO BSI Buyer, Inc. (dba Buildertrend), First lien senior secured revolving loan2024-12-310001747777BTRS HOLDINGS INC. (dba Billtrust), First lien senior secured revolving loan2024-12-310001747777Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.), First lien senior secured revolving loan2024-12-310001747777Certinia Inc., First lien senior secured revolving loan2024-12-310001747777CivicPlus, LLC, First lien senior secured revolving loan2024-12-310001747777Coupa Holdings, LLC, First lien senior secured revolving loan2024-12-310001747777Creek Parent, Inc. (dba Catalent), First lien senior secured revolving loan2024-12-310001747777Crewline Buyer, Inc. (dba New Relic), First lien senior secured revolving loan2024-12-310001747777CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant), First lien senior secured revolving loan2024-12-310001747777Delinea Buyer, Inc. (f/k/a Centrify), First lien senior secured revolving loan2024-12-310001747777Disco Parent, Inc. (dba Duck Creek Technologies, Inc.), First lien senior secured revolving loan2024-12-310001747777EET Buyer, Inc. (dba e-Emphasys), First lien senior secured revolving loan2024-12-310001747777Entrata, Inc., First lien senior secured revolving loan2024-12-310001747777Finastra USA, Inc., First lien senior secured revolving loan2024-12-310001747777Forescout Technologies, Inc., First lien senior secured revolving loan2024-12-310001747777Fullsteam Operations, LLC, First lien senior secured revolving loan2024-12-310001747777Gainsight, Inc., First lien senior secured revolving loan2024-12-310001747777Gerson Lehrman Group, Inc., First lien senior secured revolving loan2024-12-310001747777GI Ranger Intermediate, LLC (dba Rectangle Health), First lien senior secured revolving loan, 10/20272024-12-310001747777Granicus, Inc., First lien senior secured revolving loan2024-12-310001747777GS Acquisitionco, Inc. (dba insightsoftware), First lien senior secured revolving loan2024-12-310001747777H&F Opportunities LUX III S.À R.L (dba Checkmarx), First lien senior secured revolving loan2024-12-310001747777Hyland Software, Inc., First lien senior secured revolving loan2024-12-310001747777Icefall Parent, Inc. (dba EngageSmart), First lien senior secured revolving loan2024-12-310001747777Indikami Bidco, LLC (dba IntegriChain), First lien senior secured revolving loan, 6/20302024-12-310001747777Integrity Marketing Acquisition, LLC, First lien senior secured revolving loan2024-12-310001747777Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.), First lien senior secured revolving loan2024-12-310001747777Interoperability Bidco, Inc. (dba Lyniate), First lien senior secured revolving loan, 3/20282024-12-310001747777IRI Group Holdings, Inc. (f/k/a Circana Group, L.P. (f/k/a The NPD Group, L.P.)), First lien senior secured revolving loan, 12/20272024-12-310001747777JS Parent, Inc. (dba Jama Software), First lien senior secured revolving loan2024-12-310001747777Kaseya Inc., First lien senior secured revolving loan2024-12-310001747777KWOL Acquisition Inc. (dba Worldwide Clinical Trials), First lien senior secured revolving loan2024-12-310001747777Litera Bidco LLC, First lien senior secured revolving loan2024-12-310001747777LogRhythm, Inc., First lien senior secured revolving loan2024-12-310001747777Magnet Forensics, LLC (f/k/a Grayshift, LLC), First lien senior secured revolving loan2024-12-310001747777ManTech International Corporation, First lien senior secured revolving loan2024-12-310001747777MINDBODY, Inc., First lien senior secured revolving loan2024-12-310001747777Ministry Brands Holdings, LLC, First lien senior secured revolving loan2024-12-310001747777Minotaur Acquisition, Inc. (dba Inspira Financial), First lien senior secured revolving loan2024-12-310001747777Monotype Imaging Holdings Inc., First lien senior secured revolving loan2024-12-310001747777Neptune Holdings, Inc. (dba NexTech), First lien senior secured revolving loan2024-12-310001747777NMI Acquisitionco, Inc. (dba Network Merchants), First lien senior secured revolving loan2024-12-310001747777Oranje Holdco, Inc. (dba KnowBe4), First lien senior secured revolving loan2024-12-310001747777PDI TA Holdings, Inc., First lien senior secured revolving loan2024-12-310001747777PetVet Care Centers, LLC, First lien senior secured revolving loan2024-12-310001747777Ping Identity Holding Corp., First lien senior secured revolving loan2024-12-310001747777Pluralsight, LLC, First lien senior secured revolving loan2024-12-310001747777Pye-Barker Fire & Safety, LLC, First lien senior secured revolving loan, 5/20302024-12-310001747777QAD, Inc., First lien senior secured revolving loan2024-12-310001747777Relativity ODA LLC, First lien senior secured revolving loan2024-12-310001747777RL Datix Holdings (USA), Inc., First lien senior secured revolving loan, 10/20302024-12-310001747777SailPoint Technologies Holdings, Inc., First lien senior secured revolving loan2024-12-310001747777Salinger Bidco Inc. (dba Surgical Information Systems), First lien senior secured revolving loan2024-12-310001747777Securonix, Inc., First lien senior secured revolving loan, 4/20282024-12-310001747777Severin Acquisition, LLC (dba PowerSchool), First lien senior secured revolving loan2024-12-310001747777Simplicity Financial Marketing Group Holdings, Inc., First lien senior secured revolving loan2024-12-310001747777Smarsh Inc., First lien senior secured revolving loan, 2/20292024-12-310001747777Spaceship Purchaser, Inc. (dba Squarespace), First lien senior secured revolving loan2024-12-310001747777Talon MidCo 2 Limited, First lien senior secured revolving loan2024-12-310001747777Tamarack Intermediate, L.L.C. (dba Verisk 3E), First lien senior secured revolving loan2024-12-310001747777Thunder Purchaser, Inc. (dba Vector Solutions), First lien senior secured revolving loan2024-12-310001747777Velocity HoldCo III Inc. (dba VelocityEHS), First lien senior secured revolving loan2024-12-310001747777When I Work, Inc., First lien senior secured revolving loan2024-12-310001747777Zendesk, Inc., First lien senior secured revolving loan2024-12-310001747777Walker Edison Furniture Company LLC, First lien senior secured delayed draw term loan, 3/20272024-12-310001747777Walker Edison Furniture Company LLC, First lien senior secured revolving loan, 3/20272024-12-310001747777AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC, LLC Interest, N/A2024-12-310001747777AAM Series 2.1 Aviation Feeder, LLC, LLC Interest, N/A2024-12-310001747777LSI Financing LLC, Common Equity, N/A2024-12-310001747777Total Portfolio Company Commitments2024-12-310001747777Fifth Season Investments LLC2023-12-310001747777Fifth Season Investments LLC2024-01-012024-12-310001747777Help HP SCF Investor, LP2023-12-310001747777Help HP SCF Investor, LP2024-01-012024-12-310001747777LSI Financing LLC2023-12-310001747777LSI Financing LLC2024-01-012024-12-310001747777LSI Financing 1 DAC2023-12-310001747777LSI Financing 1 DAC2024-01-012024-12-310001747777Pluralsight, LLC2023-12-310001747777Pluralsight, LLC2024-01-012024-12-310001747777Signifyd Inc.2023-12-310001747777Signifyd Inc.2024-01-012024-12-310001747777Split Software, Inc.2023-12-310001747777Split Software, Inc.2024-01-012024-12-310001747777Split Software, Inc.2024-12-310001747777Walker Edison Furniture Company LLC2023-12-310001747777Walker Edison Furniture Company LLC2024-01-012024-12-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2023-12-310001747777us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2024-01-012024-12-310001747777Blue Owl Credit SLF LLC2023-12-310001747777Blue Owl Credit SLF LLC2024-01-012024-12-310001747777Blue Owl Credit SLF LLC2024-12-310001747777Revolut Ribbit Holdings, LLC2023-12-310001747777Revolut Ribbit Holdings, 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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________________________________________________________________
FORM 10-Q
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(Mark One) |
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QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the period ended March 31, 2025
OR
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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 000-55977
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BLUE OWL TECHNOLOGY FINANCE CORP.
(Exact name of Registrant as specified in its Charter)
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Maryland
(State or other jurisdiction of
incorporation or organization)
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83-1273258
(I.R.S. Employer
Identification No.)
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399 Park Avenue, New York, New York
(Address of principal executive offices)
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10022
(Zip Code)
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Registrant’s telephone number, including area code: (212) 419-3000
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class |
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Trading Symbol(s) |
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Name of each exchange on which registered |
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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 x No o
Indicate by check mark whether the Registrant has submitted electronically, every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes x No o
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.
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Large accelerated filer o
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Emerging growth company ☐
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Smaller reporting company ☐
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Non-accelerated filer x
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Accelerated filer o
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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. o
Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES o NO x
As of May 12, 2025, the registrant had 465,122,953 shares of common stock, $0.01 par value per share, outstanding.
Table of Contents
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FINANCIAL INFORMATION |
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OTHER INFORMATION |
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This report contains forward-looking statements that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about Blue Owl Technology Finance Corp. (the “Company,” “we” or “our”), our current and prospective portfolio investments, our industry, our beliefs and opinions, and our assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including without limitation:
•an economic downturn could impair our portfolio companies’ ability to continue to operate, which could lead to the loss of some or all of our investments in such portfolio companies;
•an economic downturn could disproportionately impact the companies that we intend to target for investment, potentially causing us to experience a decrease in investment opportunities and diminished demand for capital from these companies;
•the impact of elevated inflation rates, fluctuating interest rates, ongoing supply chain and labor market disruptions, including those as a result of strikes, work stoppages or accidents, instability in the U.S. and international banking systems, uncertainties related to the new Presidential administration, including the impact of tariff enactment and tax reductions, trade disputes with other countries, and the risk of recession or a shutdown of government services could impact our business prospects and the prospects of our portfolio companies;
•an economic downturn could also impact availability and pricing of our financing and our ability to access the debt and equity capital markets;
•a contraction of available credit and/or an inability to access the equity markets could impair our lending and investment activities;
•changes in base interest rates and significant market volatility on our business and our portfolio companies (including our business prospects and the prospects of our portfolio companies including the ability to achieve our and their business objectives), our industry and the global economy including as a result of ongoing supply chain disruptions;
•interest rate volatility could adversely affect our results, particularly because we use leverage as part of our investment strategy;
•currency fluctuations could adversely affect the results of our investments in foreign companies, particularly to the extent that we receive payments denominated in foreign currency rather than U.S. dollars;
•our future operating results;
•our contractual arrangements and relationships with third parties;
•the ability of our portfolio companies to achieve their objectives;
•competition with other entities and our affiliates for investment opportunities;
•risks related to the uncertainty of the value of our portfolio investments, particularly those having no liquid trading market;
•the use of borrowed money to finance a portion of our investments as well as any estimates regarding potential use of leverage;
•the adequacy of our financing sources and working capital;
•the loss of key personnel;
•the timing of cash flows, if any, from the operations of our portfolio companies;
•the ability of Blue Owl Technology Credit Advisors LLC (“the Adviser” or “our Adviser”) to locate suitable investments for us and to monitor and administer our investments;
•the ability of the Adviser to attract and retain highly talented professionals;
•our ability to qualify for and maintain our tax treatment as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), and as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”);
•the impact that environmental, social and governance matters could have on our brand and reputation and our portfolio companies;
•the effect of legal, tax and regulatory changes;
•the impact of information technology system failures, data security breaches, data privacy compliance, network disruptions, and cybersecurity attacks, and the increasing use of artificial intelligence and machine learning technology;
•the impact of geo-political conditions, including revolution, insurgency, terrorism or war, including those arising out of the ongoing war between Russia and Ukraine, as well as political and social unrest in the Middle East and North Africa regions and general uncertainty surrounding the financial and political stability of the United States, the
United Kingdom, the European Union and China, on financial market volatility, global economic markets, and various markets for commodities globally such as oil and natural gas;
•the ability to realize the anticipated benefits of the merger of Blue Owl Technology Finance Corp. II (“OTF II”) with and into us (the “Mergers”) on March 24, 2025 pursuant to an Agreement and Plan of Merger (the “Merger Agreement”), dated November 12, 2024, among us, OTF II, Oriole Merger Sub, Inc., a Maryland corporation and our wholly owned subsidiary (“Merger Sub”) and, solely for the limited purposes set forth therein, the Adviser and, solely for the limited purposes set forth therein, Blue Owl Technology Credit Advisers II LLC, a Delaware limited liability company and investment advisor to OTF II (“OTCA II”);
•the effects of disruption on our business from the Mergers;
•the combined company’s plans, expectations, objectives and intentions as a result of the Mergers; and
•other risks, uncertainties and other factors previously identified in the reports and other documents we have filed with the Securities and Exchange Commission (“SEC”).
Although we believe that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate, and as a result, the forward-looking statements based on those assumptions also could be inaccurate. In light of these and other uncertainties, the inclusion of a projection or forward-looking statement in this report should not be regarded as a representation by us that our plans and objectives will be achieved. These forward-looking statements apply only as of the date of this report. Moreover, we assume no duty and do not undertake to update the forward-looking statements. Because we are an investment company, the forward-looking statements and projections contained in this report are excluded from the safe harbor protection provided by Section 21E of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”).
PART I: FINANCIAL INFORMATION
Item 1. Financial Statements
Blue Owl Technology Finance Corp.
Consolidated Statements of Assets and Liabilities
(Amounts in thousands, except share and per share amounts)
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March 31, 2025 (Unaudited) |
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December 31, 2024 |
Assets |
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Investments at fair value |
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Non-controlled, non-affiliated investments (amortized cost of $11,377,479 and $5,921,172, respectively) |
$ |
11,336,974 |
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$ |
5,892,773 |
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Non-controlled, affiliated investments (amortized cost of $653,615 and $435,706, respectively) |
624,989 |
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407,303 |
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Controlled, affiliated investments (amortized cost of $77,746 and $76,243, respectively) |
108,895 |
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107,390 |
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Total investments at fair value (amortized cost of $12,108,840 and $6,433,121, respectively) |
12,070,858 |
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6,407,466 |
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Cash (restricted cash of $10,073 and $—, respectively) |
997,270 |
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252,964 |
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Foreign cash (cost of $3,762 and $4,040, respectively) |
3,745 |
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4,036 |
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Interest receivable |
86,220 |
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45,838 |
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Dividend income receivable |
13,174 |
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1,929 |
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Prepaid expenses and other assets |
47,743 |
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10,388 |
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Total Assets |
$ |
13,219,010 |
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$ |
6,722,621 |
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Liabilities |
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Debt (net of unamortized debt issuance costs of $93,708 and $37,495, respectively) |
$ |
5,127,899 |
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$ |
2,914,509 |
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Management fee payable |
27,664 |
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14,687 |
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Distribution payable |
— |
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70,998 |
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Incentive fee payable |
21,399 |
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11,133 |
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Payables to affiliates |
2,287 |
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1,903 |
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Payable for investments purchased |
10,721 |
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52,796 |
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Accrued expenses and other liabilities |
82,317 |
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31,445 |
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Total Liabilities |
$ |
5,272,287 |
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$ |
3,097,471 |
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Commitments and contingencies (Note 7) |
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Net Assets |
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Common shares $0.01 par value, 1,000,000,000 shares authorized; 465,122,953 and 212,155,118 shares issued and outstanding, respectively |
$ |
4,651 |
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$ |
2,122 |
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Additional paid-in-capital |
7,665,630 |
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3,352,211 |
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Total accumulated undistributed earnings |
276,442 |
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270,817 |
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Total Net Assets |
7,946,723 |
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3,625,150 |
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Total Liabilities and Net Assets |
$ |
13,219,010 |
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$ |
6,722,621 |
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Net Asset Value Per Share |
$ |
17.09 |
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$ |
17.09 |
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The accompanying notes are an integral part of these consolidated financial statements.
Blue Owl Technology Finance Corp.
Consolidated Statements of Operations
(Amounts in thousands, except share and per share amounts)
(Unaudited)
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For the Three Months Ended March 31, |
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2025 |
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2024 |
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Investment Income |
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Investment income from non-controlled, non-affiliated investments: |
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Interest income |
$ |
143,358 |
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$ |
131,552 |
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Payment-in-kind interest income |
15,281 |
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27,923 |
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Dividend income |
— |
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506 |
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Payment-in-kind dividend income |
8,400 |
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6,541 |
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Other income |
4,639 |
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2,094 |
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Total investment income from non-controlled, non-affiliated investments |
171,678 |
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168,616 |
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Investment income from non-controlled, affiliated investments: |
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Interest income |
621 |
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|
— |
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Payment-in-kind interest income |
1,176 |
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— |
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Dividend income |
6,153 |
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|
795 |
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Payment-in-kind dividend income |
3,083 |
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2,847 |
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Other income |
51 |
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3 |
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Total investment income from non-controlled, affiliated investments |
11,084 |
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3,645 |
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Investment income from controlled, affiliated investments: |
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Dividend income |
55 |
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— |
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Total investment income from controlled, affiliated investments |
55 |
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— |
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Total Investment Income |
182,817 |
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172,261 |
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Expenses |
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Interest expense |
$ |
51,686 |
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$ |
49,255 |
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Management fees, net(1)
|
15,876 |
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|
13,991 |
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Incentive fees |
9,441 |
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|
10,097 |
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Professional fees |
3,368 |
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|
1,548 |
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Directors' fees |
259 |
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|
258 |
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Other general and administrative |
1,503 |
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|
1,190 |
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Total Expenses |
82,133 |
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|
76,339 |
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Net Investment Income (Loss) Before Taxes |
100,684 |
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|
95,922 |
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Income tax expense (benefit), including excise tax expense (benefit) |
3,352 |
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|
3,284 |
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Net Investment Income (Loss) After Taxes |
97,332 |
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|
92,638 |
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Net Change in Unrealized Gain (Loss) |
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Non-controlled, non-affiliated investments |
$ |
(19,985) |
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|
$ |
24,911 |
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|
|
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|
|
Non-controlled, affiliated investments |
(759) |
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|
2,103 |
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Controlled, affiliated investments |
2 |
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|
(4,455) |
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|
Translation of assets and liabilities in foreign currencies |
1,074 |
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|
(598) |
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Income tax (provision) benefit |
(795) |
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|
— |
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Total Net Change in Unrealized Gain (Loss) |
(20,463) |
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|
21,961 |
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Net Realized Gain (Loss): |
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|
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|
|
|
|
|
|
Non-controlled, non-affiliated investments |
$ |
1,847 |
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|
$ |
(22,797) |
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Foreign currency transactions |
(584) |
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|
(928) |
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Total Net Realized Gain (Loss) |
1,263 |
|
|
(23,725) |
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|
Total Net Realized and Change in Unrealized Gain (Loss) |
$ |
(19,200) |
|
|
$ |
(1,764) |
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|
Net Increase (Decrease) in Net Assets Resulting from Operations |
$ |
78,132 |
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$ |
90,874 |
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Earnings (Loss) Per Share - Basic and Diluted |
$ |
0.33 |
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$ |
0.44 |
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Weighted Average Shares Outstanding - Basic and Diluted |
235,351,119 |
|
|
208,065,044 |
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Blue Owl Technology Finance Corp.
Consolidated Statements of Operations
(Amounts in thousands, except share and per share amounts)
(Unaudited)
(1)Refer to Note 3 “Agreements and Related Party Transactions” for additional details on management fee waiver.
The accompanying notes are an integral part of these consolidated financial statements.
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands, except share amounts)
(Unaudited)
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Company(1)(7)(18)(20) |
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Investment |
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Interest |
Maturity Date |
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Par / Units |
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Amortized Cost(4)(5) |
|
Fair Value |
|
% of Net Assets |
|
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Ref. Rate |
Cash |
PIK |
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Non-controlled/non-affiliated portfolio company investments |
|
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Debt Investments(6) |
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Aerospace & defense |
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ManTech International Corporation(9)(15) |
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First lien senior secured loan |
|
S+ |
5.00% |
|
9/2029 |
|
$ |
76,669 |
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|
$ |
76,726 |
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|
$ |
76,669 |
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|
Peraton Corp.(3)(9)(15) |
|
Second lien senior secured loan |
|
S+ |
7.75% |
|
2/2029 |
|
84,551 |
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|
83,802 |
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|
62,939 |
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160,528 |
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|
139,608 |
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1.8 |
% |
Application Software |
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AI Titan Parent, Inc. (dba Prometheus Group)(8)(15) |
|
First lien senior secured loan |
|
S+ |
4.75% |
|
8/2031 |
|
50,189 |
|
|
49,724 |
|
|
49,687 |
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|
|
AlphaSense, Inc.(9)(15) |
|
First lien senior secured loan |
|
S+ |
6.25% |
|
6/2029 |
|
59,360 |
|
|
58,905 |
|
|
58,915 |
|
|
|
Anaplan, Inc.(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.00% |
|
6/2029 |
|
185,049 |
|
|
185,062 |
|
|
185,049 |
|
|
|
Armstrong Bidco Limited(11)(15)(23) |
|
First lien senior secured GBP term loan |
|
SA+ |
5.25% |
|
6/2029 |
|
£ |
16,173 |
|
|
20,169 |
|
|
20,772 |
|
|
|
Artifact Bidco, Inc. (dba Avetta)(9)(15) |
|
First lien senior secured loan |
|
S+ |
4.50% |
|
7/2031 |
|
34,579 |
|
|
34,429 |
|
|
34,406 |
|
|
|
Boxer Parent Company Inc. (f/k/a BMC)(3)(9)(15) |
|
First lien senior secured loan |
|
S+ |
3.00% |
|
7/2031 |
|
30,000 |
|
|
29,719 |
|
|
29,442 |
|
|
|
Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.)(9)(15)(16) |
|
First lien senior secured loan |
|
S+ |
5.50% |
|
8/2027 |
|
78,569 |
|
|
77,654 |
|
|
76,492 |
|
|
|
CivicPlus, LLC(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.75% |
|
8/2027 |
|
68,151 |
|
|
67,842 |
|
|
68,151 |
|
|
|
Coupa Holdings, LLC(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.25% |
|
2/2030 |
|
84,955 |
|
|
85,022 |
|
|
84,955 |
|
|
|
CP PIK DEBT ISSUER, LLC (dba CivicPlus, LLC)(10)(15) |
|
Unsecured notes |
|
S+ |
|
12.00% |
6/2034 |
|
46,503 |
|
|
45,778 |
|
|
46,503 |
|
|
|
Diamondback Acquisition, Inc. (dba Sphera)(8)(15) |
|
First lien senior secured loan |
|
S+ |
5.50% |
|
9/2028 |
|
75,668 |
|
|
74,807 |
|
|
75,479 |
|
|
|
Einstein Parent, Inc. (dba Smartsheet)(9)(15) |
|
First lien senior secured loan |
|
S+ |
6.50% |
|
1/2031 |
|
105,186 |
|
|
104,155 |
|
|
104,135 |
|
|
|
Fullsteam Operations, LLC(9)(15) |
|
First lien senior secured loan |
|
S+ |
8.25% |
|
11/2029 |
|
30,815 |
|
|
30,437 |
|
|
30,815 |
|
|
|
Fullsteam Operations, LLC(9)(15)(16) |
|
First lien senior secured delayed draw term loan |
|
S+ |
7.00% |
|
11/2029 |
|
8,329 |
|
|
8,247 |
|
|
8,307 |
|
|
|
Gainsight, Inc.(9)(15)(16) |
|
First lien senior secured loan |
|
S+ |
6.00% |
|
7/2027 |
|
70,687 |
|
|
70,233 |
|
|
70,687 |
|
|
|
Granicus, Inc.(9)(15) |
|
First lien senior secured loan |
|
S+ |
3.50% |
2.25% |
1/2031 |
|
3,933 |
|
|
3,918 |
|
|
3,933 |
|
|
|
Granicus, Inc.(9)(15) |
|
First lien senior secured delayed draw term loan |
|
S+ |
3.00% |
2.25% |
1/2031 |
|
583 |
|
|
578 |
|
|
578 |
|
|
|
GS Acquisitionco, Inc. (dba insightsoftware)(9)(15)(16) |
|
First lien senior secured loan |
|
S+ |
5.25% |
|
5/2028 |
|
52,679 |
|
|
52,542 |
|
|
52,140 |
|
|
|
JS Parent, Inc. (dba Jama Software)(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.00% |
|
4/2031 |
|
27,216 |
|
|
27,166 |
|
|
27,216 |
|
|
|
Magnet Forensics, LLC (f/k/a Grayshift, LLC)(8)(15)(23) |
|
First lien senior secured loan |
|
S+ |
5.00% |
|
7/2028 |
|
176,356 |
|
|
176,448 |
|
|
176,356 |
|
|
|
Ministry Brands Holdings, LLC(8)(15) |
|
First lien senior secured loan |
|
S+ |
5.50% |
|
12/2028 |
|
8,203 |
|
|
8,105 |
|
|
8,142 |
|
|
|
Simpler Postage, Inc. (dba Easypost)(8)(15)(16) |
|
First lien senior secured loan |
|
S+ |
8.00% |
|
6/2029 |
|
66,554 |
|
|
63,601 |
|
|
63,515 |
|
|
|
Tamarack Intermediate, L.L.C. (dba Verisk 3E)(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.75% |
|
3/2028 |
|
12,086 |
|
|
11,943 |
|
|
12,025 |
|
|
|
Velocity HoldCo III Inc. (dba VelocityEHS)(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.50% |
|
4/2027 |
|
40,104 |
|
|
39,739 |
|
|
40,104 |
|
|
|
XPLOR T1, LLC(9)(15) |
|
First lien senior secured loan |
|
S+ |
3.50% |
|
6/2031 |
|
9,950 |
|
|
9,954 |
|
|
9,950 |
|
|
|
Zendesk, Inc.(9)(15) |
|
First lien senior secured loan |
|
S+ |
4.99% |
|
11/2028 |
|
146,363 |
|
|
145,745 |
|
|
146,363 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,481,922 |
|
|
1,484,117 |
|
|
18.7 |
% |
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands, except share amounts)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company(1)(7)(18)(20) |
|
Investment |
|
Interest |
Maturity Date |
|
Par / Units |
|
Amortized Cost(4)(5) |
|
Fair Value |
|
% of Net Assets |
|
|
Ref. Rate |
Cash |
PIK |
|
|
|
|
Banks |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finastra USA, Inc.(10)(15)(16)(23) |
|
First lien senior secured loan |
|
S+ |
7.25% |
|
9/2029 |
|
156,950 |
|
|
156,244 |
|
|
156,950 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
156,244 |
|
|
156,950 |
|
|
2.0 |
% |
Beverages |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Innovation Ventures HoldCo, LLC (dba 5 Hour Energy)(8)(15) |
|
First lien senior secured loan |
|
S+ |
6.25% |
|
3/2027 |
|
7,204 |
|
|
7,101 |
|
|
7,095 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,101 |
|
|
7,095 |
|
|
0.1 |
% |
Building products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EET Buyer, Inc. (dba e-Emphasys)(9)(15) |
|
First lien senior secured loan |
|
S+ |
4.75% |
|
11/2027 |
|
67,733 |
|
|
67,396 |
|
|
67,733 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
67,396 |
|
|
67,733 |
|
|
0.9 |
% |
Buildings & Real Estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Associations, Inc.(9)(15)(16) |
|
First lien senior secured revolving loan |
|
S+ |
6.50% |
|
7/2028 |
|
104,663 |
|
|
104,658 |
|
|
104,663 |
|
|
|
Associations Finance, Inc.(15)(26) |
|
Unsecured notes |
|
N/A |
|
14.25% |
5/2030 |
|
41,145 |
|
|
41,034 |
|
|
41,145 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
145,692 |
|
|
145,808 |
|
|
1.8 |
% |
Capital Markets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CCM Midco, LLC (f/k/a Cresset Capital Management, LLC) |
|
First lien senior secured loan |
|
N/A |
5.00% |
|
6/2030 |
|
7,777 |
|
|
7,783 |
|
|
7,777 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,783 |
|
|
7,777 |
|
|
0.1 |
% |
Commercial Services & Supplies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pye-Barker Fire & Safety, LLC(9)(15)(16) |
|
First lien senior secured loan |
|
S+ |
4.50% |
|
5/2031 |
|
38,685 |
|
|
38,551 |
|
|
38,588 |
|
|
|
Pye-Barker Fire & Safety, LLC(9)(15)(16) |
|
First lien senior secured revolving loan |
|
S+ |
4.50% |
|
5/2030 |
|
682 |
|
|
664 |
|
|
668 |
|
|
|
SimpliSafe Holding Corporation(8)(15) |
|
First lien senior secured loan |
|
S+ |
6.25% |
|
5/2028 |
|
23,459 |
|
|
23,466 |
|
|
23,459 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
62,681 |
|
|
62,715 |
|
|
0.8 |
% |
Construction & Engineering |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dodge Construction Network LLC(9)(15) |
|
First lien senior secured loan |
|
S+ |
6.25% |
|
1/2029 |
|
4,396 |
|
|
4,312 |
|
|
4,308 |
|
|
|
Dodge Construction Network LLC(9)(15) |
|
First lien senior secured loan |
|
S+ |
4.75% |
|
2/2029 |
|
6,080 |
|
|
4,873 |
|
|
4,864 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,185 |
|
|
9,172 |
|
|
0.1 |
% |
Consumer Finance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Klarna Holding AB(9)(15)(23) |
|
Subordinated Floating Rate Notes |
|
S+ |
7.00% |
|
4/2034 |
|
65,334 |
|
|
65,360 |
|
|
65,334 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
65,360 |
|
|
65,334 |
|
|
0.8 |
% |
Diversified Consumer Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ellucian Holdings Inc. (f/k/a Sophia, L.P.)(3)(8)(15) |
|
First lien senior secured loan |
|
S+ |
3.00% |
|
10/2029 |
|
7,978 |
|
|
7,955 |
|
|
7,957 |
|
|
|
Icefall Parent, Inc. (dba EngageSmart)(9)(15) |
|
First lien senior secured loan |
|
S+ |
6.50% |
|
1/2030 |
|
31,043 |
|
|
30,841 |
|
|
31,043 |
|
|
|
Juniper Square, Inc.(9)(15)(16) |
|
First lien senior secured loan |
|
S+ |
8.50% |
|
12/2026 |
|
56,584 |
|
|
56,629 |
|
|
56,584 |
|
|
|
Litera Bidco LLC(8)(15)(16) |
|
First lien senior secured loan |
|
S+ |
5.00% |
|
5/2028 |
|
189,191 |
|
|
188,519 |
|
|
188,718 |
|
|
|
Relativity ODA LLC(8)(15) |
|
First lien senior secured loan |
|
S+ |
4.49% |
|
5/2029 |
|
137,241 |
|
|
136,834 |
|
|
136,898 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
420,778 |
|
|
421,200 |
|
|
5.3 |
% |
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blackhawk Network Holdings, Inc.(3)(8)(15) |
|
First lien senior secured loan |
|
S+ |
4.00% |
|
3/2029 |
|
90,174 |
|
|
90,135 |
|
|
89,705 |
|
|
|
BTRS Holdings Inc. (dba Billtrust)(9)(15)(16) |
|
First lien senior secured loan |
|
S+ |
5.50% |
|
12/2028 |
|
149,027 |
|
|
148,730 |
|
|
148,626 |
|
|
|
Computer Services, Inc. (dba CSI)(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.25% |
|
11/2029 |
|
156,854 |
|
|
156,932 |
|
|
156,854 |
|
|
|
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands, except share amounts)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company(1)(7)(18)(20) |
|
Investment |
|
Interest |
Maturity Date |
|
Par / Units |
|
Amortized Cost(4)(5) |
|
Fair Value |
|
% of Net Assets |
|
|
Ref. Rate |
Cash |
PIK |
|
|
|
|
Computer Services, Inc. (dba CSI)(9)(15) |
|
First lien senior secured loan |
|
S+ |
4.75% |
|
11/2029 |
|
26,526 |
|
|
26,401 |
|
|
26,459 |
|
|
|
Hg Genesis 8 Sumoco Limited(11)(15)(23) |
|
Unsecured facility |
|
SA+ |
|
6.00% |
9/2027 |
|
£ |
14,319 |
|
|
18,069 |
|
|
18,482 |
|
|
|
Hg Genesis 9 SumoCo Limited(12)(15)(23) |
|
Unsecured facility |
|
E+ |
|
6.25% |
3/2029 |
|
€ |
62,688 |
|
|
67,564 |
|
|
67,716 |
|
|
|
Hg Saturn Luchaco Limited(11)(15)(23) |
|
Unsecured facility |
|
SA+ |
|
7.50% |
3/2026 |
|
£ |
40,822 |
|
|
51,876 |
|
|
52,691 |
|
|
|
Minotaur Acquisition, Inc. (dba Inspira Financial)(8)(15) |
|
First lien senior secured loan |
|
S+ |
5.00% |
|
6/2030 |
|
145,523 |
|
|
145,004 |
|
|
145,523 |
|
|
|
NMI Acquisitionco, Inc. (dba Network Merchants)(8)(15) |
|
First lien senior secured loan |
|
S+ |
5.00% |
|
9/2028 |
|
24,294 |
|
|
24,238 |
|
|
24,294 |
|
|
|
Smarsh Inc.(9)(15) |
|
First lien senior secured loan |
|
S+ |
4.75% |
|
2/2029 |
|
86,977 |
|
|
86,653 |
|
|
86,977 |
|
|
|
Smarsh Inc.(8)(15)(16) |
|
First lien senior secured revolving loan |
|
S+ |
4.75% |
|
2/2029 |
|
1,155 |
|
|
1,135 |
|
|
1,155 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
816,737 |
|
|
818,482 |
|
|
10.3 |
% |
Diversified Support Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CoreTrust Purchasing Group LLC(8)(15) |
|
First lien senior secured loan |
|
S+ |
5.25% |
|
10/2029 |
|
30,013 |
|
|
30,037 |
|
|
30,013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30,037 |
|
|
30,013 |
|
|
0.4 |
% |
Entertainment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aerosmith Bidco 1 Limited (dba Audiotonix)(9)(15)(23) |
|
First lien senior secured loan |
|
S+ |
5.25% |
|
7/2031 |
|
197,055 |
|
|
195,973 |
|
|
197,055 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
195,973 |
|
|
197,055 |
|
|
2.5 |
% |
Equity Real Estate Investment Trusts (REITs) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Storable, Inc.(3)(8)(15) |
|
First lien senior secured loan |
|
S+ |
3.25% |
|
4/2031 |
|
9,923 |
|
|
9,891 |
|
|
9,858 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,891 |
|
|
9,858 |
|
|
0.1 |
% |
Food & Staples Retailing |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IRI Group Holdings, Inc. (f/k/a Circana Group, L.P. (f/k/a The NPD Group, L.P.))(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.00% |
|
12/2028 |
|
169,577 |
|
|
169,694 |
|
|
169,577 |
|
|
|
IRI Group Holdings, Inc. (f/k/a Circana Group, L.P. (f/k/a The NPD Group, L.P.))(8)(15)(16) |
|
First lien senior secured revolving loan |
|
S+ |
5.00% |
|
12/2027 |
|
1,214 |
|
|
1,215 |
|
|
1,214 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
170,909 |
|
|
170,791 |
|
|
2.1 |
% |
Health Care Equipment & Supplies |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cambrex Corporation(8)(15) |
|
First lien senior secured loan |
|
S+ |
4.75% |
|
3/2032 |
|
39,067 |
|
|
38,695 |
|
|
38,676 |
|
|
|
Packaging Coordinators Midco, Inc.(9)(15) |
|
First lien senior secured loan |
|
S+ |
4.75% |
|
1/2032 |
|
122,559 |
|
|
120,941 |
|
|
120,874 |
|
|
|
PerkinElmer U.S. LLC(8)(15) |
|
First lien senior secured loan |
|
S+ |
5.00% |
|
3/2029 |
|
67,532 |
|
|
67,081 |
|
|
67,025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
226,717 |
|
|
226,575 |
|
|
2.9 |
% |
Health Care Providers & Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Covetrus, Inc.(9)(15) |
|
Second lien senior secured loan |
|
S+ |
9.25% |
|
10/2030 |
|
75,000 |
|
|
73,378 |
|
|
72,938 |
|
|
|
|
Engage Debtco Limited(9)(15)(23) |
|
First lien senior secured loan |
|
S+ |
3.18% |
2.50% |
7/2029 |
|
20,821 |
|
|
20,319 |
|
|
20,300 |
|
|
|
|
EresearchTechnology, Inc. (dba Clario)(8)(15)(16) |
|
First lien senior secured loan |
|
S+ |
4.75% |
|
1/2032 |
|
67,599 |
|
|
66,900 |
|
|
66,862 |
|
|
|
|
KWOL Acquisition, Inc. (dba Worldwide Clinical Trials)(9)(15) |
|
First lien senior secured loan |
|
S+ |
4.75% |
|
12/2029 |
|
45,575 |
|
|
45,241 |
|
|
45,575 |
|
|
|
|
OneOncology, LLC(9)(15) |
|
First lien senior secured loan |
|
S+ |
4.75% |
|
6/2030 |
|
13,069 |
|
|
13,038 |
|
|
13,003 |
|
|
|
|
OneOncology, LLC(9)(15)(16) |
|
First lien senior secured delayed draw term loan |
|
S+ |
5.00% |
|
6/2030 |
|
10,893 |
|
|
10,872 |
|
|
10,893 |
|
|
|
|
PetVet Care Centers, LLC(8)(15) |
|
First lien senior secured loan |
|
S+ |
6.00% |
|
11/2030 |
|
77,519 |
|
|
75,093 |
|
|
73,255 |
|
|
|
|
Phantom Purchaser, Inc.(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.00% |
|
9/2031 |
|
8,887 |
|
|
8,872 |
|
|
8,865 |
|
|
|
|
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands, except share amounts)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company(1)(7)(18)(20) |
|
Investment |
|
Interest |
Maturity Date |
|
Par / Units |
|
Amortized Cost(4)(5) |
|
Fair Value |
|
% of Net Assets |
|
|
Ref. Rate |
Cash |
PIK |
|
|
|
|
TC Holdings, LLC (dba TrialCard)(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.00% |
|
4/2027 |
|
38,415 |
|
|
38,445 |
|
|
38,415 |
|
|
|
|
Vermont Aus Pty Ltd(14)(15)(23) |
|
First lien senior secured AUD term loan |
|
BBSY+ |
5.75% |
|
3/2028 |
|
A$ |
12,942 |
|
|
8,074 |
|
|
8,024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
360,232 |
|
|
358,130 |
|
|
4.5 |
% |
Health Care Technology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Athenahealth Group Inc.(3)(8)(15) |
|
First lien senior secured loan |
|
S+ |
3.00% |
|
2/2029 |
|
3,484 |
|
|
3,444 |
|
|
3,435 |
|
|
|
BCPE Osprey Buyer, Inc. (dba PartsSource)(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.75% |
|
8/2028 |
|
113,848 |
|
|
112,813 |
|
|
112,425 |
|
|
|
BCPE Osprey Buyer, Inc. (dba PartsSource)(8)(15)(16) |
|
First lien senior secured delayed draw term loan |
|
S+ |
5.75% |
|
8/2028 |
|
10,441 |
|
|
10,159 |
|
|
10,256 |
|
|
|
BCPE Osprey Buyer, Inc. (dba PartsSource)(8)(15)(16) |
|
First lien senior secured revolving loan |
|
S+ |
5.75% |
|
8/2026 |
|
11,280 |
|
|
11,222 |
|
|
11,128 |
|
|
|
Color Intermediate, LLC (dba ClaimsXten)(9)(15) |
|
First lien senior secured loan |
|
S+ |
4.75% |
|
10/2029 |
|
47,789 |
|
|
47,827 |
|
|
47,789 |
|
|
|
CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant)(8)(15) |
|
First lien senior secured loan |
|
S+ |
5.00% |
|
8/2031 |
|
155,835 |
|
|
155,604 |
|
|
155,835 |
|
|
|
GI Ranger Intermediate, LLC (dba Rectangle Health)(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.75% |
|
10/2028 |
|
26,886 |
|
|
26,553 |
|
|
26,347 |
|
|
|
Greenway Health, LLC(9)(15) |
|
First lien senior secured loan |
|
S+ |
6.75% |
|
4/2029 |
|
18,860 |
|
|
18,582 |
|
|
18,625 |
|
|
|
Hyland Software, Inc.(8)(15) |
|
First lien senior secured loan |
|
S+ |
5.00% |
|
9/2030 |
|
149,434 |
|
|
149,486 |
|
|
149,434 |
|
|
|
Indikami Bidco, LLC (dba IntegriChain)(8)(15) |
|
First lien senior secured loan |
|
S+ |
4.00% |
2.50% |
12/2030 |
|
133,805 |
|
|
131,964 |
|
|
132,467 |
|
|
|
Indikami Bidco, LLC (dba IntegriChain)(8)(15)(16) |
|
First lien senior secured delayed draw term loan |
|
S+ |
6.00% |
|
12/2030 |
|
2,085 |
|
|
2,004 |
|
|
2,065 |
|
|
|
Indikami Bidco, LLC (dba IntegriChain)(8)(15)(16) |
|
First lien senior secured revolving loan |
|
S+ |
6.00% |
|
6/2030 |
|
7,299 |
|
|
7,124 |
|
|
7,169 |
|
|
|
Inovalon Holdings, Inc.(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.75% |
|
11/2028 |
|
151,454 |
|
|
149,387 |
|
|
151,454 |
|
|
|
Inovalon Holdings, Inc.(9)(15) |
|
Second lien senior secured loan |
|
S+ |
|
10.76% |
11/2033 |
|
98,162 |
|
|
97,096 |
|
|
98,162 |
|
|
|
Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.)(9)(15)(23) |
|
First lien senior secured loan |
|
S+ |
6.50% |
|
8/2026 |
|
164,336 |
|
|
163,732 |
|
|
160,227 |
|
|
|
Interoperability Bidco, Inc. (dba Lyniate)(9)(15)(16) |
|
First lien senior secured loan |
|
S+ |
5.75% |
|
3/2028 |
|
117,712 |
|
|
116,857 |
|
|
115,215 |
|
|
|
Natural Partners, LLC(9)(15)(23) |
|
First lien senior secured loan |
|
S+ |
4.50% |
|
11/2027 |
|
12,289 |
|
|
12,298 |
|
|
12,289 |
|
|
|
Neptune Holdings, Inc. (dba NexTech)(9)(15) |
|
First lien senior secured loan |
|
S+ |
4.50% |
|
8/2030 |
|
10,892 |
|
|
10,876 |
|
|
10,892 |
|
|
|
Project Ruby Ultimate Parent Corp. (dba Wellsky)(3)(8)(15) |
|
First lien senior secured loan |
|
S+ |
3.00% |
|
3/2028 |
|
11,628 |
|
|
11,594 |
|
|
11,581 |
|
|
|
RL Datix Holdings (USA), Inc.(10)(15) |
|
First lien senior secured loan |
|
S+ |
5.25% |
|
4/2031 |
|
104,855 |
|
|
104,042 |
|
|
104,069 |
|
|
|
RL Datix Holdings (USA), Inc.(11)(15) |
|
First lien senior secured GBP term loan |
|
SA+ |
5.25% |
|
4/2031 |
|
£ |
48,558 |
|
|
61,227 |
|
|
62,206 |
|
|
|
Salinger Bidco Inc. (dba Surgical Information Systems)(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.75% |
|
8/2031 |
|
94,453 |
|
|
94,314 |
|
|
94,453 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,498,205 |
|
|
1,497,523 |
|
|
18.8 |
% |
Hotels, Restaurants & Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MINDBODY, Inc.(9)(15) |
|
First lien senior secured loan |
|
S+ |
7.00% |
|
9/2025 |
|
72,962 |
|
|
72,887 |
|
|
72,962 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
72,887 |
|
|
72,962 |
|
|
0.9 |
% |
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands, except share amounts)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company(1)(7)(18)(20) |
|
Investment |
|
Interest |
Maturity Date |
|
Par / Units |
|
Amortized Cost(4)(5) |
|
Fair Value |
|
% of Net Assets |
|
|
Ref. Rate |
Cash |
PIK |
|
|
|
|
Household Durables |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BCTO BSI Buyer, Inc. (dba Buildertrend)(9)(15) |
|
First lien senior secured loan |
|
S+ |
6.50% |
|
12/2026 |
|
83,870 |
|
|
83,589 |
|
|
83,870 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
83,589 |
|
|
83,870 |
|
|
1.1 |
% |
Industrial Conglomerates |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aptean Acquiror, Inc. (dba Aptean)(9)(15)(16) |
|
First lien senior secured loan |
|
S+ |
5.25% |
|
1/2031 |
|
6,708 |
|
|
6,682 |
|
|
6,708 |
|
|
|
QAD, Inc.(8)(15) |
|
First lien senior secured loan |
|
S+ |
4.75% |
|
11/2027 |
|
87,940 |
|
|
87,940 |
|
|
87,720 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
94,622 |
|
|
94,428 |
|
|
1.2 |
% |
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AmeriLife Holdings LLC(10)(15)(16) |
|
First lien senior secured loan |
|
S+ |
5.00% |
|
8/2029 |
|
43,920 |
|
|
43,733 |
|
|
43,695 |
|
|
|
Asurion, LLC(3)(8)(15) |
|
First lien senior secured loan |
|
S+ |
4.25% |
|
8/2028 |
|
18,389 |
|
|
18,309 |
|
|
18,202 |
|
|
|
Asurion, LLC(3)(8)(15) |
|
Second lien senior secured loan |
|
S+ |
5.25% |
|
1/2028 |
|
10,833 |
|
|
10,711 |
|
|
10,230 |
|
|
|
Diamond Insure Bidco (dba Acturis)(13)(15) |
|
First lien senior secured EUR term loan |
|
E+ |
4.25% |
|
7/2031 |
|
€ |
8,121 |
|
|
8,666 |
|
|
8,662 |
|
|
|
Diamond Insure Bidco (dba Acturis)(11)(15) |
|
First lien senior secured GBP term loan |
|
SA+ |
4.50% |
|
7/2031 |
|
£ |
26,545 |
|
|
33,765 |
|
|
33,835 |
|
|
|
Disco Parent, Inc. (dba Duck Creek Technologies, Inc.)(9)(15) |
|
First lien senior secured loan |
|
S+ |
7.50% |
|
3/2029 |
|
44,738 |
|
|
44,426 |
|
|
44,403 |
|
|
|
Galway Borrower LLC(9)(15)(16) |
|
First lien senior secured delayed draw term loan |
|
S+ |
4.50% |
|
9/2028 |
|
152 |
|
|
152 |
|
|
152 |
|
|
|
Integrated Specialty Coverages, LLC(9)(15) |
|
First lien senior secured loan |
|
S+ |
4.75% |
|
7/2030 |
|
7,773 |
|
|
7,779 |
|
|
7,773 |
|
|
|
Integrity Marketing Acquisition, LLC(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.00% |
|
8/2028 |
|
84,612 |
|
|
84,425 |
|
|
84,612 |
|
|
|
Simplicity Financial Marketing Group Holdings, Inc.(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.00% |
|
12/2031 |
|
14,286 |
|
|
14,153 |
|
|
14,143 |
|
|
|
Simplicity Financial Marketing Group Holdings, Inc.(10)(15)(16) |
|
First lien senior secured delayed draw term loan |
|
S+ |
5.00% |
|
12/2031 |
|
610 |
|
|
588 |
|
|
587 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
266,707 |
|
|
266,294 |
|
|
3.4 |
% |
Internet & Direct Marketing Retail |
|
|
|
|
|
|
|
|
|
|
|
|
|
Aurelia Netherlands B.V.(12)(15)(23) |
|
First lien senior secured EUR term loan |
|
E+ |
5.50% |
|
5/2031 |
|
€ |
64,942 |
|
|
69,428 |
|
|
70,150 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
69,428 |
|
|
70,150 |
|
|
0.9 |
% |
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Kaseya Inc.(8)(15) |
|
First lien senior secured loan |
|
S+ |
3.25% |
|
3/2032 |
|
70,000 |
|
|
69,698 |
|
|
69,650 |
|
|
|
Kaseya Inc.(8)(15) |
|
Second lien senior secured loan |
|
S+ |
5.00% |
|
3/2033 |
|
17,500 |
|
|
17,424 |
|
|
17,413 |
|
|
|
Severin Acquisition, LLC (dba PowerSchool)(8)(15) |
|
First lien senior secured loan |
|
S+ |
2.75% |
2.25% |
10/2031 |
|
93,322 |
|
|
92,309 |
|
|
92,156 |
|
|
|
Severin Acquisition, LLC (dba PowerSchool)(8)(15)(16) |
|
First lien senior secured delayed draw term loan |
|
S+ |
5.00% |
|
10/2031 |
|
1,317 |
|
|
1,184 |
|
|
1,164 |
|
|
|
Severin Acquisition, LLC (dba PowerSchool)(9)(15)(16) |
|
First lien senior secured revolving loan |
|
S+ |
4.75% |
|
10/2031 |
|
1,754 |
|
|
1,621 |
|
|
1,608 |
|
|
|
Spaceship Purchaser, Inc. (dba Squarespace)(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.00% |
|
10/2031 |
|
180,849 |
|
|
180,528 |
|
|
180,849 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
362,764 |
|
|
362,840 |
|
|
4.6 |
% |
Life Sciences Tools & Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bamboo US BidCo LLC(12)(15) |
|
First lien senior secured EUR term loan |
|
E+ |
5.25% |
|
9/2030 |
|
€ |
15,655 |
|
|
16,842 |
|
|
16,910 |
|
|
|
Bamboo US BidCo LLC(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.25% |
|
9/2030 |
|
28,995 |
|
|
29,003 |
|
|
28,995 |
|
|
|
Bracket Intermediate Holding Corp.(3)(9)(15)(23) |
|
First lien senior secured loan |
|
S+ |
4.25% |
|
5/2028 |
|
34,390 |
|
|
34,496 |
|
|
34,476 |
|
|
|
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands, except share amounts)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company(1)(7)(18)(20) |
|
Investment |
|
Interest |
Maturity Date |
|
Par / Units |
|
Amortized Cost(4)(5) |
|
Fair Value |
|
% of Net Assets |
|
|
Ref. Rate |
Cash |
PIK |
|
|
|
|
Creek Parent, Inc. (dba Catalent)(8)(15) |
|
First lien senior secured loan |
|
S+ |
5.25% |
|
12/2031 |
|
174,889 |
|
|
173,077 |
|
|
174,014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
253,418 |
|
|
254,395 |
|
|
3.2 |
% |
Media |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Monotype Imaging Holdings Inc.(8)(15)(16) |
|
First lien senior secured loan |
|
S+ |
5.50% |
|
2/2031 |
|
129,370 |
|
|
129,015 |
|
|
129,370 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
129,015 |
|
|
129,370 |
|
|
1.6 |
% |
Multiline Retail |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PDI TA Holdings, Inc.(9)(15)(16) |
|
First lien senior secured loan |
|
S+ |
5.50% |
|
2/2031 |
|
25,263 |
|
|
24,973 |
|
|
24,991 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
24,973 |
|
|
24,991 |
|
|
0.3 |
% |
Pharmaceuticals |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foundation Consumer Brands, LLC(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.00% |
|
2/2029 |
|
21,394 |
|
|
21,304 |
|
|
21,287 |
|
|
|
Pacific BidCo Inc.(10)(15)(23) |
|
First lien senior secured loan |
|
S+ |
|
6.00% |
8/2029 |
|
9,049 |
|
|
8,876 |
|
|
8,868 |
|
|
|
Pacific BidCo Inc.(10)(15)(23) |
|
First lien senior secured delayed draw term loan |
|
S+ |
5.75% |
|
8/2029 |
|
954 |
|
|
936 |
|
|
935 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31,116 |
|
|
31,090 |
|
|
0.4 |
% |
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Certinia Inc.(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.25% |
|
8/2030 |
|
88,235 |
|
|
87,895 |
|
|
88,235 |
|
|
|
CloudPay, Inc.(9)(15) |
|
First lien senior secured loan |
|
S+ |
7.50% |
|
7/2029 |
|
21,000 |
|
|
20,815 |
|
|
20,790 |
|
|
|
Cornerstone OnDemand, Inc.(8)(15) |
|
Second lien senior secured loan |
|
S+ |
6.50% |
|
10/2029 |
|
71,667 |
|
|
70,959 |
|
|
60,379 |
|
|
|
Gerson Lehrman Group, Inc.(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.00% |
|
12/2027 |
|
37,790 |
|
|
37,586 |
|
|
37,790 |
|
|
|
Proofpoint, Inc.(3)(8)(15) |
|
First lien senior secured loan |
|
S+ |
3.00% |
|
8/2028 |
|
3,159 |
|
|
3,151 |
|
|
3,146 |
|
|
|
Sensor Technology Topco, Inc. (dba Humanetics)(9)(15)(16) |
|
First lien senior secured loan |
|
S+ |
7.00% |
|
5/2028 |
|
64,416 |
|
|
64,468 |
|
|
64,416 |
|
|
|
Sensor Technology Topco, Inc. (dba Humanetics)(12)(15)(16) |
|
First lien senior secured EUR term loan |
|
E+ |
7.25% |
|
5/2028 |
|
€ |
11,648 |
|
|
12,612 |
|
|
12,594 |
|
|
|
Sensor Technology Topco, Inc. (dba Humanetics)(8)(15)(16) |
|
First lien senior secured revolving loan |
|
S+ |
6.50% |
|
5/2028 |
|
2,528 |
|
|
2,530 |
|
|
2,528 |
|
|
|
Sovos Compliance, LLC(3)(8)(15) |
|
First lien senior secured loan |
|
S+ |
4.00% |
|
8/2029 |
|
19,303 |
|
|
19,209 |
|
|
19,201 |
|
|
|
Thunder Purchaser, Inc. (dba Vector Solutions)(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.25% |
|
6/2028 |
|
139,408 |
|
|
138,659 |
|
|
139,408 |
|
|
|
TK Operations Ltd (dba Travelperk, Inc.)(15)(26) |
|
First lien senior secured loan |
|
N/A |
|
11.50% |
5/2029 |
|
49,430 |
|
|
46,244 |
|
|
46,465 |
|
|
|
When I Work, Inc.(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.50% |
|
11/2027 |
|
36,203 |
|
|
36,054 |
|
|
34,935 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
540,182 |
|
|
529,887 |
|
|
6.7 |
% |
Real Estate Management & Development |
|
|
|
|
|
|
|
|
|
|
|
|
|
Entrata, Inc.(8)(15) |
|
First lien senior secured loan |
|
S+ |
5.75% |
|
7/2030 |
|
45,197 |
|
|
45,222 |
|
|
45,197 |
|
|
|
RealPage, Inc.(3)(9)(15) |
|
First lien senior secured loan |
|
S+ |
3.75% |
|
4/2028 |
|
35,000 |
|
|
34,825 |
|
|
34,962 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
80,047 |
|
|
80,159 |
|
|
1.0 |
% |
Systems Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acquia Inc.(9) |
|
First lien senior secured loan |
|
S+ |
7.00% |
|
11/2026 |
|
188,298 |
|
|
188,004 |
|
|
184,533 |
|
|
|
Activate Holdings (US) Corp. (dba Absolute Software)(9)(15)(23) |
|
First lien senior secured loan |
|
S+ |
5.50% |
|
7/2030 |
|
54,401 |
|
|
54,420 |
|
|
54,401 |
|
|
|
Appfire Technologies, LLC(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.00% |
|
3/2028 |
|
6,978 |
|
|
6,983 |
|
|
6,978 |
|
|
|
Arctic Wolf Networks, Inc.(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.75% |
|
2/2030 |
|
88,384 |
|
|
87,519 |
|
|
87,500 |
|
|
|
Arctic Wolf Networks, Inc.(15)(26) |
|
Senior convertible notes |
|
N/A |
|
3.00% |
11/2030 |
|
129,334 |
|
|
165,316 |
|
|
165,316 |
|
|
|
Azurite Intermediate Holdings, Inc. (dba Alteryx, Inc.)(8)(15) |
|
First lien senior secured loan |
|
S+ |
6.50% |
|
3/2031 |
|
94,049 |
|
|
93,133 |
|
|
93,345 |
|
|
|
Barracuda Networks, Inc.(3)(9)(15) |
|
First lien senior secured loan |
|
S+ |
4.50% |
|
8/2029 |
|
22,976 |
|
|
20,253 |
|
|
19,817 |
|
|
|
Barracuda Networks, Inc.(9)(15) |
|
Second lien senior secured loan |
|
S+ |
7.00% |
|
8/2030 |
|
55,875 |
|
|
43,661 |
|
|
42,325 |
|
|
|
Barracuda Parent, LLC(9)(15) |
|
First lien senior secured loan |
|
S+ |
6.50% |
|
8/2029 |
|
20,442 |
|
|
19,848 |
|
|
19,369 |
|
|
|
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands, except share amounts)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company(1)(7)(18)(20) |
|
Investment |
|
Interest |
Maturity Date |
|
Par / Units |
|
Amortized Cost(4)(5) |
|
Fair Value |
|
% of Net Assets |
|
|
Ref. Rate |
Cash |
PIK |
|
|
|
|
Bayshore Intermediate #2, L.P. (dba Boomi)(9)(15) |
|
First lien senior secured loan |
|
S+ |
2.88% |
3.38% |
10/2028 |
|
153,679 |
|
|
153,699 |
|
|
153,679 |
|
|
|
ConnectWise, LLC(3)(9)(15) |
|
First lien senior secured loan |
|
S+ |
3.50% |
|
9/2028 |
|
3,050 |
|
|
3,048 |
|
|
3,044 |
|
|
|
Crewline Buyer, Inc. (dba New Relic)(8)(15) |
|
First lien senior secured loan |
|
S+ |
6.75% |
|
11/2030 |
|
213,236 |
|
|
210,927 |
|
|
211,104 |
|
|
|
Databricks, Inc.(8)(15) |
|
First lien senior secured loan |
|
S+ |
4.50% |
|
1/2031 |
|
114,694 |
|
|
114,179 |
|
|
114,120 |
|
|
|
Databricks, Inc.(15) |
|
First lien senior secured delayed draw term loan |
|
S+ |
4.50% |
|
1/2031 |
|
— |
|
|
2 |
|
|
— |
|
|
|
Delinea Buyer, Inc. (f/k/a Centrify)(9)(15)(16) |
|
First lien senior secured loan |
|
S+ |
5.75% |
|
3/2028 |
|
105,455 |
|
|
104,052 |
|
|
105,455 |
|
|
|
Delta TopCo, Inc. (dba Infoblox, Inc.)(3)(9)(15) |
|
Second lien senior secured loan |
|
S+ |
5.25% |
|
11/2030 |
|
30,000 |
|
|
29,974 |
|
|
29,934 |
|
|
|
Forescout Technologies, Inc.(9)(15) |
|
First lien senior secured loan |
|
S+ |
5.00% |
|
5/2031 |
|
67,644 |
|
|
67,335 |
|
|
67,305 |
|
|
|
H&F Opportunities LUX III S.À R.L (dba Checkmarx)(8)(15)(23) |
|
First lien senior secured loan |
|
S+ |
7.50% |
|
4/2026 |
|
148,889 |
|
|
147,924 |
|
|
148,889 |
|
|
|
LogRhythm, Inc.(9)(15) |
|
First lien senior secured loan |
|
S+ |
7.50% |
|
7/2029 |
|
4,750 |
|
|
4,624 |
|
|
4,619 |
|
|
|
Oranje Holdco, Inc. (dba KnowBe4)(9)(15) |
|
First lien senior secured loan |
|
S+ |
7.75% |
|
2/2029 |
|
119,636 |
|
|
119,584 |
|
|
119,636 |
|
|
|
Oranje Holdco, Inc. (dba KnowBe4)(9)(15) |
|
First lien senior secured loan |
|
S+ |
7.25% |
|
2/2029 |
|
26,646 |
|
|
26,459 |
|
|
26,446 |
|
|
|
Ping Identity Holding Corp.(9)(15) |
|
First lien senior secured loan |
|
S+ |
4.75% |
|
10/2029 |
|
102,343 |
|
|
102,411 |
|
|
102,343 |
|
|
|
Rubrik, Inc.(9)(15)(16) |
|
First lien senior secured loan |
|
S+ |
7.00% |
|
8/2028 |
|
64,734 |
|
|
64,667 |
|
|
64,734 |
|
|
|
Securonix, Inc.(9)(15) |
|
First lien senior secured loan |
|
S+ |
4.00% |
3.75% |
4/2028 |
|
39,927 |
|
|
37,199 |
|
|
34,637 |
|
|
|
Securonix, Inc.(9)(15)(16)(28) |
|
First lien senior secured revolving loan |
|
S+ |
7.00% |
|
4/2028 |
|
160 |
|
|
(326) |
|
|
(783) |
|
|
|
Sitecore Holding III A/S(9)(15) |
|
First lien senior secured loan |
|
S+ |
3.50% |
4.25 |
3/2029 |
|
21,288 |
|
|
21,242 |
|
|
21,288 |
|
|
|
Sitecore Holding III A/S(12)(15) |
|
First lien senior secured EUR term loan |
|
E+ |
3.50% |
4.25% |
3/2029 |
|
€ |
123,803 |
|
|
132,044 |
|
|
133,732 |
|
|
|
Sitecore USA, Inc.(9)(15) |
|
First lien senior secured loan |
|
S+ |
3.50% |
4.25% |
3/2029 |
|
128,341 |
|
|
128,068 |
|
|
128,341 |
|
|
|
Sophos Holdings, LLC(3)(8)(15)(23) |
|
First lien senior secured loan |
|
S+ |
3.50% |
|
3/2027 |
|
14,579 |
|
|
14,607 |
|
|
14,569 |
|
|
|
Talon MidCo 2 Limited(8)(15)(23) |
|
First lien senior secured loan |
|
S+ |
5.20% |
|
8/2028 |
|
35,903 |
|
|
35,894 |
|
|
35,903 |
|
|
|
Tricentis Operations Holdings, Inc.(9)(15) |
|
First lien senior secured loan |
|
S+ |
1.38% |
4.88% |
2/2032 |
|
112,398 |
|
|
111,323 |
|
|
111,274 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,308,073 |
|
|
2,303,853 |
|
|
29.0 |
% |
Total non-controlled/non-affiliated debt investments |
|
|
|
|
$ |
10,210,192 |
|
|
$ |
10,180,225 |
|
|
128.1 |
% |
Total non-controlled/non-affiliated misc. debt commitments(15)(28)(Note 7) |
|
|
|
|
$ |
(4,880) |
|
|
$ |
(4,047) |
|
|
(0.1) |
% |
Total non-controlled/non-affiliated portfolio company debt investments |
|
|
|
$ |
10,205,312 |
|
|
$ |
10,176,178 |
|
|
128.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aerospace & defense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Space Exploration Technologies Corp.(15)(17)(24) |
|
Class A Common Stock |
|
N/A |
|
|
N/A |
|
419,311 |
|
|
23,013 |
|
|
78,957 |
|
|
|
Space Exploration Technologies Corp.(15)(17)(24) |
|
Class C Common Stock |
|
N/A |
|
|
N/A |
|
84,250 |
|
|
4,011 |
|
|
15,864 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
27,024 |
|
|
94,821 |
|
|
1.2 |
% |
Application Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6Sense Insights, Inc.(15)(17)(24) |
|
Series E-1 Preferred Stock |
|
N/A |
|
|
N/A |
|
1,580,642 |
|
|
48,102 |
|
|
40,145 |
|
|
|
Alpha Partners Technology Merger Corp(2)(17)(23)(24) |
|
Common stock |
|
N/A |
|
|
N/A |
|
30,000 |
|
|
1,000 |
|
|
336 |
|
|
|
Alpha Partners Technology Merger Corp(2)(17)(23)(24) |
|
Warrants |
|
N/A |
|
|
N/A |
|
666,666 |
|
|
— |
|
|
113 |
|
|
|
AlphaSense, LLC(15)(17)(24) |
|
Series E Preferred Shares |
|
N/A |
|
|
N/A |
|
284,408 |
|
|
13,176 |
|
|
13,441 |
|
|
|
Bird Holding B.V. (fka MessageBird Holding B.V.)(15)(17)(23)(24) |
|
Extended Series C Warrants |
|
N/A |
|
|
N/A |
|
191,530 |
|
|
1,174 |
|
|
278 |
|
|
|
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands, except share amounts)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company(1)(7)(18)(20) |
|
Investment |
|
Interest |
Maturity Date |
|
Par / Units |
|
Amortized Cost(4)(5) |
|
Fair Value |
|
% of Net Assets |
|
|
Ref. Rate |
Cash |
PIK |
|
|
|
|
Diligent Preferred Issuer, Inc. (dba Diligent Corporation)(15)(17)(26) |
|
Preferred Stock |
|
N/A |
|
10.50% |
N/A |
|
15,000 |
|
|
22,279 |
|
|
21,648 |
|
|
|
EShares, Inc. (dba Carta)(17)(24) |
|
Series E Preferred Stock |
|
N/A |
|
|
N/A |
|
186,904 |
|
|
2,008 |
|
|
4,378 |
|
|
|
Insight CP (Blocker) Holdings, L.P. (dba CivicPlus, LLC)(15)(17)(23)(24) |
|
LP Interest |
|
N/A |
|
|
N/A |
|
$ |
2,285 |
|
|
2,285 |
|
|
2,867 |
|
|
|
Nylas, Inc.(17)(24) |
|
Series C Preferred Stock |
|
N/A |
|
|
N/A |
|
2,088,467 |
|
|
15,009 |
|
|
2,535 |
|
|
|
Project Alpine Co-Invest Fund, LP(15)(17)(23)(24) |
|
LP Interest |
|
N/A |
|
|
N/A |
|
$ |
13,333 |
|
|
16,381 |
|
|
17,509 |
|
|
|
Saturn Ultimate, Inc.(15)(17)(24) |
|
Common stock |
|
N/A |
|
|
N/A |
|
5,580,593 |
|
|
25,008 |
|
|
45,535 |
|
|
|
Simpler Postage, Inc. (dba Easypost)(15)(17)(24) |
|
Warrants |
|
N/A |
|
|
N/A |
|
216,891 |
|
|
2,635 |
|
|
2,591 |
|
|
|
Zoro TopCo, L.P.(15)(17)(24) |
|
Class A Common Units |
|
N/A |
|
|
N/A |
|
19,731 |
|
|
17,739 |
|
|
18,455 |
|
|
|
Zoro TopCo, Inc.(9)(15)(17) |
|
Series A Preferred Equity |
|
S+ |
|
9.50% |
N/A |
|
1,644,254 |
|
|
26,289 |
|
|
26,491 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
193,085 |
|
|
196,322 |
|
|
2.5 |
% |
Capital Markets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acorns Grow Incorporated(15)(17)(23)(26) |
|
Series F Preferred Stock |
|
N/A |
|
5.00% |
N/A |
|
572,135 |
|
|
11,376 |
|
|
11,225 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,376 |
|
|
11,225 |
|
|
0.1 |
% |
Construction & Engineering |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dodge Construction Network Holdings, L.P.(15)(17)(24) |
|
Class A-2 Common Units |
|
N/A |
|
|
N/A |
|
3,333,333 |
|
|
2,841 |
|
|
474 |
|
|
|
Dodge Construction Network Holdings, L.P.(9)(15)(17) |
|
Series A Preferred Units |
|
S+ |
8.25% |
|
N/A |
|
— |
|
|
69 |
|
|
41 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,910 |
|
|
515 |
|
|
|
|
Consumer products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SLA Eclipse Co-Invest, L.P.(3)(17)(23)(24) |
|
LP Interest |
|
N/A |
|
|
N/A |
|
$ |
15,000 |
|
|
15,256 |
|
|
16,551 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15,256 |
|
|
16,551 |
|
|
0.2 |
% |
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amergin Asset Management, LLC(15)(17)(23)(24) |
|
Class A Units |
|
N/A |
|
|
N/A |
|
50,000,000 |
|
|
783 |
|
|
1,816 |
|
|
|
Brex, Inc.(17)(24) |
|
Preferred Stock |
|
N/A |
|
|
N/A |
|
143,943 |
|
|
5,012 |
|
|
2,885 |
|
|
|
Juniper Square, Inc.(17)(24) |
|
Warrants |
|
N/A |
|
|
N/A |
|
40,984 |
|
|
2,128 |
|
|
2,126 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,923 |
|
|
6,827 |
|
|
0.1 |
% |
Health Care Technology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BEHP Co-Investor II, L.P.(15)(17)(23)(24) |
|
LP Interest |
|
N/A |
|
|
N/A |
|
$ |
2,540 |
|
|
2,341 |
|
|
2,593 |
|
|
|
Minerva Holdco, Inc.(15)(17)(26) |
|
Senior A Preferred Stock |
|
N/A |
|
10.75% |
N/A |
|
100,000 |
|
|
136,940 |
|
|
135,419 |
|
|
|
Orange Blossom Parent, Inc.(15)(17)(24) |
|
Common Units |
|
N/A |
|
|
N/A |
|
16,667 |
|
|
1,665 |
|
|
1,664 |
|
|
|
WP Irving Co-Invest, L.P.(15)(17)(23)(24) |
|
Partnership Units |
|
N/A |
|
|
N/A |
|
2,500,000 |
|
|
2,241 |
|
|
2,553 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
143,187 |
|
|
142,229 |
|
|
1.8 |
% |
Health Care Providers & Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
KWOL Acquisition, Inc. (dba Worldwide Clinical Trials)(15)(17)(24) |
|
Class A Interest |
|
N/A |
|
|
N/A |
|
317 |
|
|
3,521 |
|
|
3,868 |
|
|
|
Romulus Intermediate Holdings 1 Inc. (dba PetVet Care Centers)(15)(17)(26) |
|
Series A Preferred Stock |
|
N/A |
|
15.00% |
N/A |
|
8,838 |
|
|
10,118 |
|
|
9,744 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13,639 |
|
|
13,612 |
|
|
0.2 |
% |
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands, except share amounts)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company(1)(7)(18)(20) |
|
Investment |
|
Interest |
Maturity Date |
|
Par / Units |
|
Amortized Cost(4)(5) |
|
Fair Value |
|
% of Net Assets |
|
|
Ref. Rate |
Cash |
PIK |
|
|
|
|
Hotels, Restaurants & Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VEPF Torreys Aggregator, LLC (dba MINDBODY, Inc.)(15)(17)(26) |
|
Series A Preferred Stock |
|
N/A |
|
10.00% |
N/A |
|
25,000 |
|
|
30,187 |
|
|
32,149 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30,187 |
|
|
32,149 |
|
|
0.4 |
% |
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accelerate Topco Holdings, LLC(17)(24) |
|
Common Units |
|
N/A |
|
|
N/A |
|
12,822 |
|
|
612 |
|
|
612 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
612 |
|
|
612 |
|
|
— |
% |
Internet & Direct Marketing Retail |
|
|
|
|
|
|
|
|
|
|
|
|
|
Kajabi Holdings, LLC(17)(24) |
|
Senior Preferred Class D Units |
|
N/A |
|
|
N/A |
|
4,126,175 |
|
|
50,025 |
|
|
39,463 |
|
|
|
Linked Store Cayman Ltd. (dba Nuvemshop)(15)(17)(23)(24) |
|
Series E Preferred Stock |
|
N/A |
|
|
N/A |
|
19,499 |
|
|
42,496 |
|
|
37,998 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
92,521 |
|
|
77,461 |
|
|
1.0 |
% |
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
E2Open Parent Holdings, Inc.(2)(23)(24) |
|
Class A Common Stock |
|
N/A |
|
|
N/A |
|
1,650,943 |
|
|
17,505 |
|
|
3,302 |
|
|
|
JumpCloud, Inc.(17)(24) |
|
Series B Preferred Stock |
|
N/A |
|
|
N/A |
|
756,590 |
|
|
4,531 |
|
|
639 |
|
|
|
JumpCloud, Inc.(17)(24) |
|
Series F Preferred Stock |
|
N/A |
|
|
N/A |
|
6,679,245 |
|
|
40,017 |
|
|
28,343 |
|
|
|
Knockout Intermediate Holdings I Inc. (dba Kaseya Inc.)(10)(15)(17) |
|
Perpetual Preferred Stock |
|
S+ |
|
11.00% |
N/A |
|
44,100 |
|
|
61,130 |
|
|
61,157 |
|
|
|
Replicated, Inc.(17)(24) |
|
Series C Preferred Stock |
|
N/A |
|
|
N/A |
|
1,277,832 |
|
|
20,008 |
|
|
6,496 |
|
|
|
WMC Bidco, Inc. (dba West Monroe)(15)(17)(26) |
|
Senior Preferred Stock |
|
N/A |
|
11.25% |
N/A |
|
57,231 |
|
|
82,884 |
|
|
82,340 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
226,075 |
|
|
182,277 |
|
|
2.3 |
% |
Pharmaceuticals |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
XOMA Corporation(15)(17)(24) |
|
Warrants |
|
N/A |
|
|
N/A |
|
24,000 |
|
|
174 |
|
|
169 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
174 |
|
|
169 |
|
|
— |
% |
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BCTO WIW Holdings, Inc. (dba When I Work)(15)(17)(24) |
|
Class A Common Stock |
|
N/A |
|
|
N/A |
|
70,000 |
|
|
7,000 |
|
|
3,621 |
|
|
|
CloudPay, Inc.(15)(17)(23)(26) |
|
Series E Preferred Stock |
|
N/A |
|
13.50% |
N/A |
|
84,830 |
|
|
19,956 |
|
|
19,947 |
|
|
|
Sunshine Software Holdings, Inc. (dba Cornerstone OnDemand, Inc.)(15)(17)(26) |
|
Series A Preferred Stock |
|
N/A |
|
10.50% |
N/A |
|
28,000 |
|
|
38,448 |
|
|
30,841 |
|
|
|
Thunder Topco L.P. (dba Vector Solutions)(15)(17)(24) |
|
Common Units |
|
N/A |
|
|
N/A |
|
7,857,410 |
|
|
7,857 |
|
|
9,348 |
|
|
|
TravelPerk, Inc.(15)(17)(24) |
|
Warrants |
|
N/A |
|
|
N/A |
|
156,041 |
|
|
4,447 |
|
|
5,400 |
|
|
|
Vestwell Holdings, Inc.(15)(17)(24) |
|
Series D Preferred Stock |
|
N/A |
|
|
N/A |
|
304,350 |
|
|
6,022 |
|
|
6,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
83,730 |
|
|
75,157 |
|
|
0.9 |
% |
Road & Rail |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bolt Technology OÜ(17)(23)(24) |
|
Preferred Stock |
|
N/A |
|
|
N/A |
|
43,478 |
|
|
11,318 |
|
|
10,431 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,318 |
|
|
10,431 |
|
|
0.1 |
% |
Systems Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Algolia, Inc.(17)(24) |
|
Series C Preferred Stock |
|
N/A |
|
|
N/A |
|
970,281 |
|
|
10,000 |
|
|
17,523 |
|
|
|
Algolia, Inc.(17)(24) |
|
Series D Preferred Stock |
|
N/A |
|
|
N/A |
|
136,776 |
|
|
4,000 |
|
|
3,027 |
|
|
|
Arctic Wolf Networks, Inc.(17)(24) |
|
Preferred Stock |
|
N/A |
|
|
N/A |
|
3,032,840 |
|
|
25,036 |
|
|
26,901 |
|
|
|
Axonius, Inc.(17)(24) |
|
Series E Preferred Stock |
|
N/A |
|
|
N/A |
|
1,733,274 |
|
|
8,149 |
|
|
8,142 |
|
|
|
Brooklyn Lender Co-Invest 2, L.P. (dba Boomi)(15)(17)(24) |
|
Common Units |
|
N/A |
|
|
N/A |
|
12,692,160 |
|
|
12,692 |
|
|
19,053 |
|
|
|
Chrome Investors LP(15)(16)(23)(26) |
|
LP Interest |
|
N/A |
|
|
N/A |
|
$ |
16,407 |
|
|
16,417 |
|
|
16,407 |
|
|
|
Circle Internet Services, Inc.(17)(24) |
|
Warrants |
|
N/A |
|
|
N/A |
|
358,412 |
|
|
6 |
|
|
567 |
|
|
|
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands, except share amounts)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company(1)(7)(18)(20) |
|
Investment |
|
Interest |
Maturity Date |
|
Par / Units |
|
Amortized Cost(4)(5) |
|
Fair Value |
|
% of Net Assets |
|
|
Ref. Rate |
Cash |
PIK |
|
|
|
|
Circle Internet Services, Inc.(17)(24) |
|
Series D Preferred Stock |
|
N/A |
|
|
N/A |
|
2,934,961 |
|
|
15,000 |
|
|
14,175 |
|
|
|
Circle Internet Services, Inc.(17)(24) |
|
Series E Preferred Stock |
|
N/A |
|
|
N/A |
|
821,806 |
|
|
6,917 |
|
|
4,978 |
|
|
|
Circle Internet Services, Inc.(17)(24) |
|
Series F Preferred Stock |
|
N/A |
|
|
N/A |
|
75,876 |
|
|
1,500 |
|
|
788 |
|
|
|
Circle Internet Services, Inc.(17)(24) |
|
Subordinated Convertible Security |
|
N/A |
|
|
N/A |
|
758,882 |
|
|
759 |
|
|
759 |
|
|
|
Elliott Alto Co-Investor Aggregator L.P.(15)(17)(23)(24) |
|
LP Interest |
|
N/A |
|
|
N/A |
|
14,627 |
|
|
21,934 |
|
|
24,085 |
|
|
|
Excalibur CombineCo, L.P.(15)(17)(24) |
|
Class A Units |
|
N/A |
|
|
N/A |
|
3,340,668 |
|
|
99,452 |
|
|
78,278 |
|
|
|
Halo Parent Newco, LLC(15)(17)(26) |
|
Class H PIK Preferred Equity |
|
N/A |
|
11.00% |
N/A |
|
45,000 |
|
|
46,659 |
|
|
44,734 |
|
|
|
HARNESS INC.(17)(24)(27) |
|
Series D Preferred Stock |
|
N/A |
|
|
N/A |
|
1,022,648 |
|
|
9,169 |
|
|
9,169 |
|
|
|
Illumio, Inc.(17)(24) |
|
Common stock |
|
N/A |
|
|
N/A |
|
358,365 |
|
|
2,432 |
|
|
1,486 |
|
|
|
Illumio, Inc.(17)(24) |
|
Series F Preferred Stock |
|
N/A |
|
|
N/A |
|
2,483,618 |
|
|
16,684 |
|
|
15,502 |
|
|
|
Project Hotel California Co-Invest Fund, L.P.(3)(15)(17)(23)(24) |
|
LP Interest |
|
N/A |
|
|
N/A |
|
$ |
10,739 |
|
|
14,719 |
|
|
14,860 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
311,525 |
|
|
300,434 |
|
|
3.8 |
% |
Thrifts & Mortgage Finance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blend Labs, Inc.(15)(17)(24) |
|
Warrants |
|
N/A |
|
|
N/A |
|
299,216 |
|
|
1,625 |
|
|
4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,625 |
|
|
4 |
|
|
|
|
Total non-controlled/non-affiliated portfolio company equity investments |
|
$ |
1,172,167 |
|
|
$ |
1,160,796 |
|
|
14.6 |
% |
Total non-controlled/non-affiliated portfolio company investments |
|
$ |
11,377,479 |
|
|
$ |
11,336,974 |
|
|
142.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-controlled/affiliated portfolio company investments(21) |
|
|
|
|
|
|
|
|
|
|
|
Debt Investments(6) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC(15)(23)(26) |
|
First lien senior secured loan |
|
N/A |
|
12.00% |
7/2030 |
|
13,154 |
|
|
13,144 |
|
|
13,154 |
|
|
|
AAM Series 2.1 Aviation Feeder, LLC(15)(23)(26) |
|
First lien senior secured loan |
|
N/A |
|
12.00% |
11/2030 |
|
15,806 |
|
|
15,816 |
|
|
15,806 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
28,960 |
|
|
28,960 |
|
|
0.4 |
% |
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Coherent Group Inc.(15)(21)(26) |
|
Convertible notes |
|
N/A |
5.30% |
|
12/2025 |
|
3,029 |
|
|
3,032 |
|
|
3,029 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,032 |
|
|
3,029 |
|
|
— |
% |
Internet & Direct Marketing Retail |
|
|
|
|
|
|
|
|
|
|
|
|
|
Walker Edison Furniture Company LLC(9)(15)(16)(21)(25) |
|
First lien senior secured loan |
|
N/A |
|
6.75% |
3/2027 |
|
22,197 |
|
|
19,199 |
|
|
3,766 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,199 |
|
|
3,766 |
|
|
— |
% |
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pluralsight, LLC(9)(15)(21) |
|
First lien senior secured loan |
|
S+ |
3.00% |
1.50% |
8/2029 |
|
30,593 |
|
|
30,593 |
|
|
30,593 |
|
|
|
Pluralsight, LLC(9)(15)(21) |
|
First lien senior secured loan |
|
S+ |
|
7.50% |
8/2029 |
|
32,319 |
|
|
32,319 |
|
|
32,319 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
62,912 |
|
|
62,912 |
|
|
0.8 |
% |
Total non-controlled/affiliated portfolio company debt investments |
|
|
|
$ |
114,103 |
|
|
$ |
98,667 |
|
|
1.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC(15)(16)(17)(23)(24) |
|
LLC Interest |
|
N/A |
|
|
N/A |
|
7,365,950 |
|
|
9,178 |
|
|
9,750 |
|
|
|
AAM Series 2.1 Aviation Feeder, LLC(15)(16)(17)(23)(24)(26) |
|
LLC Interest |
|
N/A |
|
|
N/A |
|
6,850,888 |
|
|
9,404 |
|
|
9,687 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
18,582 |
|
|
19,437 |
|
|
0.2 |
% |
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands, except share amounts)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company(1)(7)(18)(20) |
|
Investment |
|
Interest |
Maturity Date |
|
Par / Units |
|
Amortized Cost(4)(5) |
|
Fair Value |
|
% of Net Assets |
|
|
Ref. Rate |
Cash |
PIK |
|
|
|
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Coherent Group Inc.(17)(21)(24) |
|
Series B Preferred Shares |
|
N/A |
|
|
N/A |
|
456,035 |
|
|
12,210 |
|
|
12,199 |
|
|
|
Fifth Season Investments LLC(15)(17)(19)(21) |
|
Class A Units |
|
N/A |
|
|
N/A |
|
16 |
|
|
133,467 |
|
|
137,359 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
145,677 |
|
|
149,558 |
|
|
1.9 |
% |
Internet & Direct Marketing Retail |
|
|
|
|
|
|
|
|
|
|
|
|
|
Signifyd Inc.(17)(21)(26) |
|
Preferred equity |
|
N/A |
|
9.00% |
N/A |
|
2,755,121 |
|
|
139,190 |
|
|
126,940 |
|
|
|
Walker Edison Holdco LLC(15)(17)(21)(24) |
|
Common Units |
|
N/A |
|
|
N/A |
|
98,319 |
|
|
9,500 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
148,690 |
|
|
126,940 |
|
|
1.6 |
% |
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Paradigmatic Holdco LLC (dba Pluralsight)(15)(17)(21)(24) |
|
Common stock |
|
N/A |
|
|
N/A |
|
10,119,090 |
|
|
26,850 |
|
|
26,850 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26,850 |
|
|
26,850 |
|
|
0.3 |
% |
Pharmaceuticals |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LSI Financing LLC(15)(16)(17)(21)(23)(24)(26) |
|
Common Equity |
|
N/A |
|
|
N/A |
|
$ |
92,364 |
|
|
92,252 |
|
|
95,876 |
|
|
|
LSI Financing 1 DAC(15)(17)(21)(23)(26) |
|
Preferred equity |
|
N/A |
|
|
N/A |
|
$ |
7,749 |
|
|
8,044 |
|
|
7,738 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
100,296 |
|
|
103,614 |
|
|
1.3 |
% |
Systems Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Help HP SCF Investor, LP(15)(17)(21)(24) |
|
LP Interest |
|
N/A |
|
|
N/A |
|
$ |
59,333 |
|
|
59,385 |
|
|
59,923 |
|
|
|
Securiti, Inc.(15)(17)(24) |
|
Series C Preferred Shares |
|
N/A |
|
|
N/A |
|
5,051,142 |
|
|
40,032 |
|
|
40,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
99,417 |
|
|
99,923 |
|
|
1.3 |
% |
Total non-controlled/affiliated portfolio company equity investments |
|
$ |
539,512 |
|
|
$ |
526,322 |
|
|
6.6 |
% |
Total non-controlled/affiliated portfolio company investments |
|
$ |
653,615 |
|
|
$ |
624,989 |
|
|
7.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Controlled/affiliated portfolio company investments(22) |
|
|
|
|
|
|
|
|
|
|
|
Equity Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revolut Ribbit Holdings, LLC(17)(22)(23)(24) |
|
LLC Interest |
|
N/A |
|
|
N/A |
|
122,996 |
|
|
75,294 |
|
|
106,443 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
75,294 |
|
|
106,443 |
|
|
1.3 |
% |
Joint Ventures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Owl Credit SLF LLC(15)(17)(19)(22)(23)(24) |
|
LLC Interest |
|
N/A |
|
|
N/A |
|
$ |
2,442 |
|
|
2,452 |
|
|
2,452 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,452 |
|
|
2,452 |
|
|
— |
% |
Total controlled/affiliated portfolio company equity investments |
|
$ |
77,746 |
|
|
$ |
108,895 |
|
|
1.4 |
% |
Total controlled/affiliated portfolio company investments |
|
$ |
77,746 |
|
|
$ |
108,895 |
|
|
1.4 |
% |
Total Investments |
|
|
|
|
|
|
|
|
|
|
$ |
12,108,840 |
|
|
$ |
12,070,858 |
|
|
151.9 |
% |
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands, except share amounts)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest Rate Swaps as of March 31, 2025 |
|
|
Company Receives |
|
Company Pays |
|
|
|
Maturity Date |
|
Notional Amount |
|
Fair Value |
|
Upfront Payments/Receipts |
|
Change in Unrealized Appreciation / (Depreciation) |
|
Hedged Instrument |
|
Footnote Reference |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate swap(a)
|
6.75% |
|
S + 2.5645% |
|
|
|
3/4/2029 |
|
700,000 |
|
|
10,665 |
|
|
— |
|
|
(57) |
|
|
April 2029 Notes |
|
Note 5 |
|
Interest rate swap(b)
|
6.10% |
|
S + 1.7670% |
|
|
|
2/15/2028 |
|
650,000 |
|
|
10,208 |
|
|
— |
|
|
(410) |
|
|
March 2028 Notes |
|
Note 5 |
|
Total |
|
|
|
|
|
|
|
|
$ |
1,350,000
|
|
|
$ |
20,873
|
|
|
|
|
$ |
(467) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) The Company has an International Swaps and Derivatives Association (“ISDA”) agreement with Goldman Sachs Bank USA.
(b) The Company has an International Swaps and Derivatives Association (“ISDA”) agreement with SMBC Capital Markets, Inc.
(1)Unless otherwise indicated, all investments are considered Level 3 investments.
(2)Level 1 investment.
(3)Level 2 investment.
(4)The amortized cost represents the original cost adjusted for the amortization or accretion of premium or discount, as applicable, on debt investments using the effective interest method.
(5)As of March 31, 2025, the net estimated unrealized gain for U.S. federal income tax purposes was $49.7 million based on a tax cost basis of $12.0 billion. As of March 31, 2025, the estimated aggregate gross unrealized loss for U.S. federal income tax purposes was $135.9 million and the estimated aggregate gross unrealized gain for U.S. federal income tax purposes was $185.6 million.
(6)Unless otherwise indicated, loan contains a variable rate structure and may be subject to an interest rate floor. Variable rate loans bear interest at a rate that may be determined by reference to either the Secured Overnight Financing Rate (“SOFR” or “S”, which can include one-, three- or six-month SOFR), Euro Interbank Offered Rate (“EURIBOR” or “E”, which can include three- or six-month EURIBOR), or Sterling Overnight Interbank Average Rate (“SONIA” or “SA”), at the borrower’s option, and which reset periodically based on the terms of the loan agreement.
(7)Certain portfolio company investments are subject to contractual restrictions on sales. Refer to footnote 16 for additional information on our restricted securities.
(8)The interest rate on these loans is subject to 1 month SOFR, which as of March 31, 2025 was 4.32%.
(9)The interest rate on these loans is subject to 3 month SOFR, which as of March 31, 2025 was 4.29%.
(10)The interest rate on these loans is subject to 6 month SOFR, which as of March 31, 2025 was 4.19%.
(11)The interest rate on these loans is subject to SONIA, which as of March 31, 2025 was 4.46%.
(12)The interest rate on these loans is subject to 3 month EURIBOR, which as of March 31, 2025 was 2.34%.
(13)The interest rate on these loans is subject to 6 month EURIBOR, which as of March 31, 2025 was 2.34%.
(14)The interest rate on these loans is subject to 3 month BBSY, which as of March 31, 2025 was 4.13%.
(15)Represents co-investment made with the Company’s affiliates in accordance with the terms of an order for exemptive relief that an affiliate of the Company’s investment adviser received from the U.S. Securities and Exchange Commission. See Note 3 “Agreements and Related Party Transactions”.
(16)Position or portion thereof is a partially unfunded debt or equity commitment. See below for more information on the Company’s commitments. See Note 7 “Commitments and Contingencies”.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Portfolio Company |
|
Commitment Type |
|
Commitment Expiration Date |
|
Funded Commitment |
|
Unfunded |
|
Commitment |
|
Fair Value(28)
|
Non-controlled/non-affiliated - delayed draw debt commitments |
|
|
|
|
|
|
|
|
Aerosmith Bidco 1 Limited (dba Audiotonix) |
|
First lien senior secured delayed draw term loan |
|
7/2027 |
|
$ |
— |
|
|
$ |
67,184 |
|
|
$ |
— |
|
AI Titan Parent, Inc. (dba Prometheus Group) |
|
First lien senior secured delayed draw term loan |
|
9/2026 |
|
— |
|
|
10,038 |
|
|
(50) |
|
AlphaSense, Inc. |
|
First lien senior secured delayed draw term loan |
|
6/2029 |
|
— |
|
|
12,030 |
|
|
(90) |
|
AlphaSense, Inc. |
|
First lien senior secured delayed draw term loan |
|
12/2025 |
|
— |
|
|
11,872 |
|
|
(89) |
|
AmeriLife Holdings LLC |
|
First lien senior secured delayed draw term loan |
|
6/2026 |
|
2,197 |
|
|
2,339 |
|
|
— |
|
AmeriLife Holdings LLC |
|
First lien senior secured delayed draw term loan |
|
2/2027 |
|
— |
|
|
5,250 |
|
|
(13) |
|
Appfire Technologies, LLC |
|
First lien senior secured delayed draw term loan |
|
12/2025 |
|
— |
|
|
2,108 |
|
|
— |
|
Appfire Technologies, LLC |
|
First lien senior secured delayed draw term loan |
|
6/2026 |
|
— |
|
|
1,344 |
|
|
— |
|
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands, except share amounts)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Portfolio Company |
|
Commitment Type |
|
Commitment Expiration Date |
|
Funded Commitment |
|
Unfunded |
|
Commitment |
|
Fair Value(28)
|
Aptean Acquiror, Inc. (dba Aptean) |
|
First lien senior secured delayed draw term loan |
|
1/2026 |
|
129 |
|
|
169 |
|
|
— |
|
Aptean Acquiror, Inc. (dba Aptean) |
|
First lien senior secured delayed draw term loan |
|
7/2025 |
|
— |
|
|
7,119 |
|
|
— |
|
Aptean Acquiror, Inc. (dba Aptean) |
|
First lien senior secured delayed draw term loan |
|
2/2027 |
|
— |
|
|
6,329 |
|
|
— |
|
Artifact Bidco, Inc. (dba Avetta) |
|
First lien senior secured delayed draw term loan |
|
7/2027 |
|
— |
|
|
8,463 |
|
|
— |
|
Associations, Inc. |
|
First lien senior secured delayed draw term loan |
|
7/2028 |
|
1,898 |
|
|
5,745 |
|
|
— |
|
Bamboo US BidCo LLC |
|
First lien senior secured delayed draw term loan |
|
11/2026 |
|
— |
|
|
6,856 |
|
|
— |
|
BCPE Osprey Buyer, Inc. (dba PartsSource) |
|
First lien senior secured delayed draw term loan |
|
10/2025 |
|
4,519 |
|
|
21,744 |
|
|
— |
|
Cambrex Corporation |
|
First lien senior secured delayed draw term loan |
|
3/2027 |
|
— |
|
|
5,831 |
|
|
(29) |
|
CCM Midco, LLC (f/k/a Cresset Capital Management, LLC) |
|
First lien senior secured delayed draw term loan |
|
9/2025 |
|
— |
|
|
3,806 |
|
|
— |
|
CCM Midco, LLC (f/k/a Cresset Capital Management, LLC) |
|
First lien senior secured delayed draw term loan |
|
6/2026 |
|
— |
|
|
2,239 |
|
|
— |
|
Computer Services, Inc. (dba CSI) |
|
First lien senior secured delayed draw term loan |
|
2/2026 |
|
— |
|
|
18,393 |
|
|
— |
|
CoreTrust Purchasing Group LLC |
|
First lien senior secured delayed draw term loan |
|
5/2026 |
|
— |
|
|
6,316 |
|
|
— |
|
Coupa Holdings, LLC |
|
First lien senior secured delayed draw term loan |
|
8/2025 |
|
— |
|
|
7,643 |
|
|
— |
|
CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant) |
|
First lien senior secured delayed draw term loan |
|
8/2026 |
|
— |
|
|
5,364 |
|
|
— |
|
Databricks, Inc. |
|
First lien senior secured delayed draw term loan |
|
7/2026 |
|
— |
|
|
25,806 |
|
|
— |
|
EET Buyer, Inc. (dba e-Emphasys) |
|
First lien senior secured delayed draw term loan |
|
4/2026 |
|
— |
|
|
9,545 |
|
|
— |
|
EresearchTechnology, Inc. (dba Clario) |
|
First lien senior secured delayed draw term loan |
|
1/2027 |
|
632 |
|
|
12,003 |
|
|
— |
|
EresearchTechnology, Inc. (dba Clario) |
|
First lien senior secured delayed draw term loan |
|
3/2026 |
|
— |
|
|
11,119 |
|
|
(56) |
|
Fullsteam Operations, LLC |
|
First lien senior secured delayed draw term loan |
|
8/2025 |
|
6,338 |
|
|
5,514 |
|
|
— |
|
Fullsteam Operations, LLC |
|
First lien senior secured delayed draw term loan |
|
2/2026 |
|
1,991 |
|
|
972 |
|
|
— |
|
Galway Borrower LLC |
|
First lien senior secured delayed draw term loan |
|
7/2026 |
|
88 |
|
|
1,466 |
|
|
— |
|
GS Acquisitionco, Inc. (dba insightsoftware) |
|
First lien senior secured delayed draw term loan |
|
3/2026 |
|
425 |
|
|
1,494 |
|
|
— |
|
Indikami Bidco, LLC (dba IntegriChain) |
|
First lien senior secured delayed draw term loan |
|
12/2025 |
|
2,085 |
|
|
16,162 |
|
|
— |
|
Integrated Specialty Coverages, LLC |
|
First lien senior secured delayed draw term loan |
|
2/2027 |
|
— |
|
|
514 |
|
|
— |
|
Integrity Marketing Acquisition, LLC |
|
First lien senior secured delayed draw term loan |
|
8/2026 |
|
— |
|
|
12,831 |
|
|
— |
|
Interoperability Bidco, Inc. (dba Lyniate) |
|
First lien senior secured delayed draw term loan |
|
6/2026 |
|
— |
|
|
7,619 |
|
|
(152) |
|
Juniper Square, Inc. |
|
First lien senior secured delayed draw term loan |
|
6/2026 |
|
3,545 |
|
|
7,705 |
|
|
— |
|
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands, except share amounts)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Portfolio Company |
|
Commitment Type |
|
Commitment Expiration Date |
|
Funded Commitment |
|
Unfunded |
|
Commitment |
|
Fair Value(28)
|
Litera Bidco LLC |
|
First lien senior secured delayed draw term loan |
|
11/2026 |
|
38,693 |
|
|
3,385 |
|
|
— |
|
Litera Bidco LLC |
|
First lien senior secured delayed draw term loan |
|
5/2027 |
|
— |
|
|
17,577 |
|
|
(44) |
|
ManTech International Corporation |
|
First lien senior secured delayed draw term loan |
|
6/2025 |
|
— |
|
|
11,334 |
|
|
— |
|
Minotaur Acquisition, Inc. (dba Inspira Financial) |
|
First lien senior secured delayed draw term loan |
|
5/2026 |
|
— |
|
|
20,908 |
|
|
— |
|
Monotype Imaging Holdings Inc. |
|
First lien senior secured delayed draw term loan |
|
2/2026 |
|
2,470 |
|
|
8,172 |
|
|
— |
|
OneOncology, LLC |
|
First lien senior secured delayed draw term loan |
|
3/2027 |
|
— |
|
|
34,699 |
|
|
(87) |
|
OneOncology, LLC |
|
First lien senior secured delayed draw term loan |
|
10/2026 |
|
4,970 |
|
|
2,956 |
|
|
— |
|
Packaging Coordinators Midco, Inc. |
|
First lien senior secured delayed draw term loan |
|
4/2026 |
|
— |
|
|
65,095 |
|
|
(489) |
|
PDI TA Holdings, Inc. |
|
First lien senior secured delayed draw term loan |
|
2/2026 |
|
— |
|
|
2,271 |
|
|
(11) |
|
PetVet Care Centers, LLC |
|
First lien senior secured delayed draw term loan |
|
11/2025 |
|
— |
|
|
10,239 |
|
|
(461) |
|
Pye-Barker Fire & Safety, LLC |
|
First lien senior secured delayed draw term loan |
|
5/2026 |
|
— |
|
|
13,777 |
|
|
— |
|
Pye-Barker Fire & Safety, LLC |
|
First lien senior secured delayed draw term loan |
|
5/2026 |
|
10,409 |
|
|
1,645 |
|
|
— |
|
RL Datix Holdings (USA), Inc. |
|
First lien senior secured delayed draw term loan |
|
4/2027 |
|
— |
|
|
23,650 |
|
|
— |
|
Rubrik, Inc. |
|
First lien senior secured delayed draw term loan |
|
6/2028 |
|
7,570 |
|
|
419 |
|
|
— |
|
Salinger Bidco Inc. (dba Surgical Information Systems) |
|
First lien senior secured delayed draw term loan |
|
8/2026 |
|
— |
|
|
9,141 |
|
|
— |
|
Sensor Technology Topco, Inc. (dba Humanetics) |
|
First lien senior secured delayed draw term loan |
|
9/2025 |
|
551 |
|
|
736 |
|
|
— |
|
Sensor Technology Topco, Inc. (dba Humanetics) |
|
First lien senior secured EUR delayed draw term loan |
|
9/2025 |
|
121 |
|
|
162 |
|
|
— |
|
Severin Acquisition, LLC (dba PowerSchool) |
|
First lien senior secured delayed draw term loan |
|
10/2027 |
|
1,317 |
|
|
18,175 |
|
|
— |
|
Simpler Postage, Inc. (dba Easypost) |
|
First lien senior secured delayed draw term loan |
|
6/2026 |
|
4,478 |
|
|
53,946 |
|
|
— |
|
Simplicity Financial Marketing Group Holdings, Inc. |
|
First lien senior secured delayed draw term loan |
|
12/2026 |
|
610 |
|
|
3,200 |
|
|
— |
|
Smarsh Inc. |
|
First lien senior secured delayed draw term loan |
|
1/2027 |
|
— |
|
|
16,329 |
|
|
— |
|
Spaceship Purchaser, Inc. (dba Squarespace) |
|
First lien senior secured delayed draw term loan |
|
10/2026 |
|
— |
|
|
10,765 |
|
|
— |
|
Spaceship Purchaser, Inc. (dba Squarespace) |
|
First lien senior secured delayed draw term loan |
|
10/2027 |
|
— |
|
|
25,836 |
|
|
— |
|
Tricentis Operations Holdings, Inc. |
|
First lien senior secured delayed draw term loan |
|
2/2027 |
|
— |
|
|
22,480 |
|
|
(112) |
|
Zendesk, Inc. |
|
First lien senior secured delayed draw term loan |
|
11/2025 |
|
— |
|
|
35,836 |
|
|
— |
|
Non-controlled/non-affiliated - revolving debt commitments |
|
|
|
|
|
|
|
|
Acquia Inc.* |
|
First lien senior secured revolving loan |
|
11/2026 |
|
11,789 |
|
|
— |
|
|
— |
|
Activate Holdings (US) Corp. (dba Absolute Software) |
|
First lien senior secured revolving loan |
|
7/2029 |
|
— |
|
|
3,363 |
|
|
— |
|
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands, except share amounts)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Portfolio Company |
|
Commitment Type |
|
Commitment Expiration Date |
|
Funded Commitment |
|
Unfunded |
|
Commitment |
|
Fair Value(28)
|
Aerosmith Bidco 1 Limited (dba Audiotonix) |
|
First lien senior secured revolving loan |
|
7/2030 |
|
— |
|
|
28,149 |
|
|
— |
|
AI Titan Parent, Inc. (dba Prometheus Group) |
|
First lien senior secured revolving loan |
|
8/2031 |
|
— |
|
|
6,274 |
|
|
(63) |
|
AmeriLife Holdings LLC |
|
First lien senior secured revolving loan |
|
8/2028 |
|
— |
|
|
4,898 |
|
|
(24) |
|
Anaplan, Inc. |
|
First lien senior secured revolving loan |
|
6/2028 |
|
— |
|
|
12,963 |
|
|
— |
|
Appfire Technologies, LLC |
|
First lien senior secured revolving loan |
|
3/2028 |
|
— |
|
|
816 |
|
|
— |
|
Aptean Acquiror, Inc. (dba Aptean) |
|
First lien senior secured revolving loan |
|
1/2031 |
|
— |
|
|
952 |
|
|
— |
|
Artifact Bidco, Inc. (dba Avetta) |
|
First lien senior secured revolving loan |
|
7/2030 |
|
— |
|
|
6,046 |
|
|
(30) |
|
Associations, Inc. |
|
First lien senior secured revolving loan |
|
7/2028 |
|
4,537 |
|
|
1,594 |
|
|
— |
|
Azurite Intermediate Holdings, Inc. (dba Alteryx, Inc.) |
|
First lien senior secured revolving loan |
|
3/2031 |
|
— |
|
|
10,450 |
|
|
(78) |
|
Bamboo US BidCo LLC |
|
First lien senior secured revolving loan |
|
10/2029 |
|
— |
|
|
5,128 |
|
|
— |
|
Bayshore Intermediate #2, L.P. (dba Boomi) |
|
First lien senior secured revolving loan |
|
10/2027 |
|
— |
|
|
13,131 |
|
|
— |
|
BCPE Osprey Buyer, Inc. (dba PartsSource) |
|
First lien senior secured revolving loan |
|
8/2026 |
|
11,280 |
|
|
951 |
|
|
— |
|
BCTO BSI Buyer, Inc. (dba Buildertrend) |
|
First lien senior secured revolving loan |
|
12/2026 |
|
— |
|
|
11,250 |
|
|
— |
|
BTRS Holdings Inc. (dba Billtrust) |
|
First lien senior secured revolving loan |
|
12/2028 |
|
11,022 |
|
|
11,022 |
|
|
— |
|
Cambrex Corporation |
|
First lien senior secured revolving loan |
|
3/2032 |
|
— |
|
|
5,102 |
|
|
(51) |
|
Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.) |
|
First lien senior secured revolving loan |
|
8/2027 |
|
2,338 |
|
|
4,450 |
|
|
— |
|
CCM Midco, LLC (f/k/a Cresset Capital Management, LLC) |
|
First lien senior secured revolving loan |
|
6/2029 |
|
— |
|
|
1,119 |
|
|
— |
|
Certinia Inc. |
|
First lien senior secured revolving loan |
|
8/2030 |
|
— |
|
|
8,824 |
|
|
— |
|
CivicPlus, LLC |
|
First lien senior secured revolving loan |
|
8/2027 |
|
— |
|
|
4,664 |
|
|
— |
|
CoreTrust Purchasing Group LLC |
|
First lien senior secured revolving loan |
|
10/2029 |
|
— |
|
|
3,789 |
|
|
— |
|
Coupa Holdings, LLC |
|
First lien senior secured revolving loan |
|
2/2029 |
|
— |
|
|
5,852 |
|
|
— |
|
Creek Parent, Inc. (dba Catalent) |
|
First lien senior secured revolving loan |
|
12/2031 |
|
— |
|
|
25,111 |
|
|
(126) |
|
Crewline Buyer, Inc. (dba New Relic) |
|
First lien senior secured revolving loan |
|
11/2030 |
|
— |
|
|
21,393 |
|
|
(214) |
|
CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant) |
|
First lien senior secured revolving loan |
|
8/2031 |
|
— |
|
|
13,410 |
|
|
— |
|
Delinea Buyer, Inc. (f/k/a Centrify) |
|
First lien senior secured revolving loan |
|
3/2027 |
|
— |
|
|
8,163 |
|
|
— |
|
Disco Parent, Inc. (dba Duck Creek Technologies, Inc.) |
|
First lien senior secured revolving loan |
|
3/2029 |
|
— |
|
|
3,823 |
|
|
(29) |
|
EET Buyer, Inc. (dba e-Emphasys) |
|
First lien senior secured revolving loan |
|
11/2027 |
|
— |
|
|
6,150 |
|
|
— |
|
Einstein Parent, Inc. (dba Smartsheet) |
|
First lien senior secured revolving loan |
|
1/2031 |
|
— |
|
|
10,881 |
|
|
(109) |
|
Entrata, Inc. |
|
First lien senior secured revolving loan |
|
7/2028 |
|
— |
|
|
5,231 |
|
|
— |
|
EresearchTechnology, Inc. (dba Clario) |
|
First lien senior secured revolving loan |
|
10/2031 |
|
— |
|
|
6,318 |
|
|
(63) |
|
Finastra USA, Inc. |
|
First lien senior secured revolving loan |
|
9/2029 |
|
4,029 |
|
|
11,994 |
|
|
— |
|
Forescout Technologies, Inc. |
|
First lien senior secured revolving loan |
|
5/2030 |
|
— |
|
|
9,693 |
|
|
(48) |
|
Foundation Consumer Brands, LLC |
|
First lien senior secured revolving loan |
|
2/2029 |
|
— |
|
|
575 |
|
|
(6) |
|
Fullsteam Operations, LLC |
|
First lien senior secured revolving loan |
|
11/2029 |
|
— |
|
|
1,185 |
|
|
— |
|
Gainsight, Inc. |
|
First lien senior secured revolving loan |
|
7/2027 |
|
2,933 |
|
|
2,700 |
|
|
— |
|
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands, except share amounts)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Portfolio Company |
|
Commitment Type |
|
Commitment Expiration Date |
|
Funded Commitment |
|
Unfunded |
|
Commitment |
|
Fair Value(28)
|
Galway Borrower LLC |
|
First lien senior secured revolving loan |
|
9/2028 |
|
64 |
|
|
132 |
|
|
— |
|
Gerson Lehrman Group, Inc. |
|
First lien senior secured revolving loan |
|
12/2027 |
|
— |
|
|
1,913 |
|
|
— |
|
GI Ranger Intermediate, LLC (dba Rectangle Health) |
|
First lien senior secured revolving loan |
|
10/2027 |
|
— |
|
|
2,211 |
|
|
(44) |
|
Granicus, Inc. |
|
First lien senior secured revolving loan |
|
1/2031 |
|
— |
|
|
548 |
|
|
— |
|
GS Acquisitionco, Inc. (dba insightsoftware) |
|
First lien senior secured revolving loan |
|
5/2028 |
|
— |
|
|
4,799 |
|
|
(48) |
|
H&F Opportunities LUX III S.À R.L (dba Checkmarx) |
|
First lien senior secured revolving loan |
|
4/2026 |
|
— |
|
|
25,000 |
|
|
— |
|
Hyland Software, Inc. |
|
First lien senior secured revolving loan |
|
9/2029 |
|
— |
|
|
7,172 |
|
|
— |
|
Icefall Parent, Inc. (dba EngageSmart) |
|
First lien senior secured revolving loan |
|
1/2030 |
|
— |
|
|
2,957 |
|
|
— |
|
Indikami Bidco, LLC (dba IntegriChain) |
|
First lien senior secured revolving loan |
|
6/2030 |
|
7,299 |
|
|
5,735 |
|
|
— |
|
Integrated Specialty Coverages, LLC |
|
First lien senior secured revolving loan |
|
7/2029 |
|
— |
|
|
603 |
|
|
— |
|
Integrity Marketing Acquisition, LLC |
|
First lien senior secured revolving loan |
|
8/2028 |
|
— |
|
|
4,294 |
|
|
— |
|
Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.)* |
|
First lien senior secured revolving loan |
|
8/2026 |
|
10,847 |
|
|
— |
|
|
— |
|
Interoperability Bidco, Inc. (dba Lyniate) |
|
First lien senior secured revolving loan |
|
3/2028 |
|
1,986 |
|
|
7,041 |
|
|
— |
|
IRI Group Holdings, Inc. (f/k/a Circana Group, L.P. (f/k/a The NPD Group, L.P.)) |
|
First lien senior secured revolving loan |
|
12/2027 |
|
1,214 |
|
|
9,024 |
|
|
— |
|
JS Parent, Inc. (dba Jama Software) |
|
First lien senior secured revolving loan |
|
4/2031 |
|
— |
|
|
2,647 |
|
|
— |
|
Juniper Square, Inc. |
|
First lien senior secured revolving loan |
|
12/2026 |
|
— |
|
|
2,250 |
|
|
— |
|
KWOL Acquisition, Inc. (dba Worldwide Clinical Trials) |
|
First lien senior secured revolving loan |
|
12/2029 |
|
— |
|
|
6,251 |
|
|
— |
|
Litera Bidco LLC |
|
First lien senior secured revolving loan |
|
5/2028 |
|
— |
|
|
10,004 |
|
|
(25) |
|
LogRhythm, Inc. |
|
First lien senior secured revolving loan |
|
7/2029 |
|
— |
|
|
475 |
|
|
(13) |
|
Magnet Forensics, LLC (f/k/a Grayshift, LLC) |
|
First lien senior secured revolving loan |
|
7/2028 |
|
— |
|
|
6,774 |
|
|
— |
|
ManTech International Corporation |
|
First lien senior secured revolving loan |
|
9/2028 |
|
— |
|
|
9,460 |
|
|
— |
|
MINDBODY, Inc. |
|
First lien senior secured revolving loan |
|
9/2025 |
|
— |
|
|
7,143 |
|
|
— |
|
Ministry Brands Holdings, LLC |
|
First lien senior secured revolving loan |
|
12/2027 |
|
— |
|
|
737 |
|
|
(6) |
|
Minotaur Acquisition, Inc. (dba Inspira Financial) |
|
First lien senior secured revolving loan |
|
6/2030 |
|
— |
|
|
12,863 |
|
|
— |
|
Monotype Imaging Holdings Inc. |
|
First lien senior secured revolving loan |
|
2/2030 |
|
— |
|
|
15,982 |
|
|
— |
|
Natural Partners, LLC |
|
First lien senior secured revolving loan |
|
11/2027 |
|
— |
|
|
1,590 |
|
|
— |
|
Neptune Holdings, Inc. (dba NexTech) |
|
First lien senior secured revolving loan |
|
8/2029 |
|
— |
|
|
1,471 |
|
|
— |
|
NMI Acquisitionco, Inc. (dba Network Merchants) |
|
First lien senior secured revolving loan |
|
9/2028 |
|
— |
|
|
1,115 |
|
|
— |
|
OneOncology, LLC |
|
First lien senior secured revolving loan |
|
6/2029 |
|
— |
|
|
9,300 |
|
|
(47) |
|
Oranje Holdco, Inc. (dba KnowBe4) |
|
First lien senior secured revolving loan |
|
2/2029 |
|
— |
|
|
14,955 |
|
|
— |
|
Packaging Coordinators Midco, Inc. |
|
First lien senior secured revolving loan |
|
1/2032 |
|
— |
|
|
12,346 |
|
|
(170) |
|
PDI TA Holdings, Inc. |
|
First lien senior secured revolving loan |
|
2/2031 |
|
302 |
|
|
1,961 |
|
|
— |
|
PetVet Care Centers, LLC |
|
First lien senior secured revolving loan |
|
11/2029 |
|
— |
|
|
10,745 |
|
|
(591) |
|
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands, except share amounts)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Portfolio Company |
|
Commitment Type |
|
Commitment Expiration Date |
|
Funded Commitment |
|
Unfunded |
|
Commitment |
|
Fair Value(28)
|
Phantom Purchaser, Inc. |
|
First lien senior secured revolving loan |
|
9/2031 |
|
— |
|
|
1,140 |
|
|
(3) |
|
Ping Identity Holding Corp. |
|
First lien senior secured revolving loan |
|
10/2028 |
|
— |
|
|
10,286 |
|
|
— |
|
Pye-Barker Fire & Safety, LLC |
|
First lien senior secured revolving loan |
|
5/2030 |
|
682 |
|
|
4,773 |
|
|
— |
|
QAD, Inc. |
|
First lien senior secured revolving loan |
|
11/2027 |
|
— |
|
|
11,429 |
|
|
(29) |
|
Relativity ODA LLC |
|
First lien senior secured revolving loan |
|
5/2029 |
|
— |
|
|
11,725 |
|
|
(29) |
|
RL Datix Holdings (USA), Inc. |
|
First lien senior secured revolving loan |
|
10/2030 |
|
— |
|
|
20,708 |
|
|
(155) |
|
SailPoint Technologies Holdings, Inc. |
|
First lien senior secured revolving loan |
|
8/2028 |
|
— |
|
|
17,433 |
|
|
— |
|
Salinger Bidco Inc. (dba Surgical Information Systems) |
|
First lien senior secured revolving loan |
|
5/2031 |
|
— |
|
|
9,141 |
|
|
— |
|
Securonix, Inc. |
|
First lien senior secured revolving loan |
|
4/2028 |
|
160 |
|
|
6,958 |
|
|
— |
|
Sensor Technology Topco, Inc. (dba Humanetics) |
|
First lien senior secured revolving loan |
|
5/2028 |
|
2,528 |
|
|
3,011 |
|
|
— |
|
Severin Acquisition, LLC (dba PowerSchool) |
|
First lien senior secured revolving loan |
|
10/2031 |
|
1,754 |
|
|
9,941 |
|
|
— |
|
Simplicity Financial Marketing Group Holdings, Inc. |
|
First lien senior secured revolving loan |
|
12/2031 |
|
— |
|
|
1,905 |
|
|
(19) |
|
Smarsh Inc. |
|
First lien senior secured revolving loan |
|
2/2029 |
|
1,155 |
|
|
7,509 |
|
|
— |
|
Spaceship Purchaser, Inc. (dba Squarespace) |
|
First lien senior secured revolving loan |
|
10/2031 |
|
— |
|
|
21,530 |
|
|
— |
|
Talon MidCo 2 Limited |
|
First lien senior secured revolving loan |
|
8/2028 |
|
— |
|
|
2,976 |
|
|
— |
|
Tamarack Intermediate, L.L.C. (dba Verisk 3E) |
|
First lien senior secured revolving loan |
|
3/2028 |
|
— |
|
|
1,682 |
|
|
(8) |
|
TC Holdings, LLC (dba TrialCard) |
|
First lien senior secured revolving loan |
|
4/2027 |
|
— |
|
|
2,842 |
|
|
— |
|
Thunder Purchaser, Inc. (dba Vector Solutions) |
|
First lien senior secured revolving loan |
|
6/2027 |
|
— |
|
|
11,250 |
|
|
— |
|
Tricentis Operations Holdings, Inc. |
|
First lien senior secured revolving loan |
|
2/2032 |
|
— |
|
|
14,050 |
|
|
(140) |
|
Velocity HoldCo III Inc. (dba VelocityEHS) |
|
First lien senior secured revolving loan |
|
4/2027 |
|
— |
|
|
2,500 |
|
|
— |
|
When I Work, Inc. |
|
First lien senior secured revolving loan |
|
11/2027 |
|
— |
|
|
5,605 |
|
|
(196) |
|
Zendesk, Inc. |
|
First lien senior secured revolving loan |
|
11/2028 |
|
— |
|
|
14,756 |
|
|
— |
|
Non-controlled/non-affiliated - equity commitments |
|
|
|
|
|
|
|
|
Chrome Investors LP |
|
LP Interest |
|
N/A |
|
16,407 |
|
|
4,102 |
|
|
— |
|
Non-controlled/affiliated - delayed draw debt commitments |
|
|
|
|
|
|
|
|
Pluralsight, LLC |
|
First lien senior secured delayed draw term loan |
|
8/2029 |
|
— |
|
|
12,649 |
|
|
— |
|
Walker Edison Furniture Company LLC |
|
First lien senior secured delayed draw term loan |
|
3/2027 |
|
587 |
|
|
822 |
|
|
— |
|
Non-controlled/affiliated - revolving debt commitments |
|
|
|
|
|
|
|
|
Pluralsight, LLC |
|
First lien senior secured revolving loan |
|
8/2029 |
|
— |
|
|
5,060 |
|
|
— |
|
Walker Edison Furniture Company LLC* |
|
First lien senior secured revolving loan |
|
3/2027 |
|
4,495 |
|
|
— |
|
|
— |
|
Non-controlled/affiliated - equity commitments |
|
|
|
|
|
|
|
|
AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC |
|
LLC Interest |
|
N/A |
|
7,366 |
|
|
15,723 |
|
|
— |
|
AAM Series 2.1 Aviation Feeder, LLC |
|
LLC Interest |
|
N/A |
|
6,851 |
|
|
4,491 |
|
|
— |
|
LSI Financing LLC |
|
Common Equity |
|
N/A |
|
92,364 |
|
|
1,000 |
|
|
— |
|
Total Portfolio Company Commitments |
|
|
|
$ |
299,025 |
|
|
$ |
1,457,574 |
|
|
$ |
(4,047) |
|
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands, except share amounts)
(Unaudited)
*Fully funded
(17)Security acquired in transaction exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), and may be deemed to be “restricted securities” under the Securities Act. As of March 31, 2025, the aggregate fair value of these securities is $1.8 billion or 22.6% of the Company’s net assets. The acquisition dates of the restricted securities are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Portfolio Company |
|
Investment |
|
Acquisition Date |
6Sense Insights, Inc. |
|
Series E-1 Preferred Stock |
|
January 20, 2022 |
AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC |
|
LLC Interest |
|
July 01, 2022 |
AAM Series 2.1 Aviation Feeder, LLC |
|
LLC interest |
|
July 01, 2022 |
Accelerate Topco Holdings, LLC |
|
Common Units |
|
March 24, 2025 |
Acorns Grow Incorporated |
|
Series F Preferred Stock |
|
March 24, 2025 |
Algolia, Inc. |
|
Series D Preferred Stock |
|
July 19, 2021 |
Algolia, Inc. |
|
Series C Preferred Stock |
|
August 30, 2019 |
Alpha Partners Technology Merger Corp |
|
Common stock |
|
July 23, 2021 |
Alpha Partners Technology Merger Corp |
|
Warrants |
|
July 21, 2023 |
AlphaSense, LLC |
|
Series E Preferred Shares |
|
June 27, 2024 |
Amergin Asset Management, LLC |
|
Class A Units |
|
July 01, 2022 |
Arctic Wolf Networks, Inc. |
|
Preferred Stock |
|
July 07, 2021 |
Axonius, Inc. |
|
Series E Preferred Stock |
|
March 24, 2025 |
BCTO WIW Holdings, Inc. (dba When I Work) |
|
Class A Common Stock |
|
November 02, 2021 |
BEHP Co-Investor II, L.P. |
|
LP Interest |
|
May 06, 2022 |
Blend Labs, Inc. |
|
Warrants |
|
July 02, 2021 |
Blue Owl Credit SLF LLC* |
|
LLC Interest |
|
August 01, 2024 |
Bolt Technology OÜ |
|
Preferred Stock |
|
December 10, 2021 |
Brex, Inc. |
|
Preferred Stock |
|
November 30, 2021 |
Brooklyn Lender Co-Invest 2, L.P. (dba Boomi) |
|
Common Units |
|
October 01, 2021 |
Chrome Investors LP |
|
LP Interest |
|
January 25, 2025 |
Circle Internet Services, Inc. |
|
Series D Preferred Stock |
|
May 20, 2019 |
Circle Internet Services, Inc. |
|
Series E Preferred Stock |
|
February 28, 2020 |
Circle Internet Services, Inc. |
|
Series F Preferred Stock |
|
May 04, 2021 |
Circle Internet Services, Inc. |
|
Warrants |
|
May 20, 2019 |
Circle Internet Services, Inc. |
|
Subordinated Convertible Security |
|
April 12, 2024 |
CloudPay, Inc. |
|
Series E Preferred Stock |
|
July 31, 2024 |
Coherent Group Inc. |
|
Series B Preferred Shares |
|
March 24, 2025 |
Diligent Preferred Issuer, Inc. (dba Diligent Corporation) |
|
Preferred Stock |
|
April 06, 2021 |
Dodge Construction Network Holdings, L.P. |
|
Series A Preferred Units |
|
March 16, 2022 |
Dodge Construction Network Holdings, L.P. |
|
Class A-2 Common Units |
|
March 16, 2022 |
E2Open Parent Holdings, Inc. |
|
Class A Common Stock |
|
August 27, 2021 |
Elliott Alto Co-Investor Aggregator L.P. |
|
LP Interest |
|
September 28, 2022 |
EShares, Inc. (dba Carta) |
|
Series E Preferred Stock |
|
August 01, 2019 |
Excalibur CombineCo, L.P. |
|
Class A Units |
|
July 02, 2024 |
Fifth Season Investments LLC |
|
Class A Units |
|
October 17, 2022 |
Halo Parent Newco, LLC |
|
Class H PIK Preferred Equity |
|
October 15, 2021 |
HARNESS INC. |
|
Series D Preferred Stock |
|
June 11, 2024 |
Help HP SCF Investor, LP |
|
LP Interest |
|
April 28, 2021 |
Illumio, Inc. |
|
Common stock |
|
August 27, 2021 |
Illumio, Inc. |
|
Series F Preferred Stock |
|
June 23, 2021 |
Insight CP (Blocker) Holdings, L.P. (dba CivicPlus, LLC) |
|
LP Interest |
|
June 08, 2022 |
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands, except share amounts)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Portfolio Company |
|
Investment |
|
Acquisition Date |
JumpCloud, Inc. |
|
Series F Preferred Stock |
|
September 03, 2021 |
JumpCloud, Inc. |
|
Series B Preferred Stock |
|
December 30, 2021 |
Juniper Square, Inc. |
|
Warrants |
|
March 24, 2025 |
Kajabi Holdings, LLC |
|
Senior Preferred Class D Units |
|
March 24, 2021 |
Knockout Intermediate Holdings I Inc. (dba Kaseya Inc.) |
|
Perpetual Preferred Stock |
|
June 22, 2022 |
KWOL Acquisition, Inc. (dba Worldwide Clinical Trials) |
|
Class A Interest |
|
December 12, 2023 |
Linked Store Cayman Ltd. (dba Nuvemshop) |
|
Series E Preferred Stock |
|
August 09, 2021 |
LSI Financing 1 DAC |
|
Preferred equity |
|
December 14, 2022 |
LSI Financing LLC |
|
Common Equity |
|
November 25, 2024 |
Bird Holding B.V. (fka MessageBird Holding B.V.) |
|
Extended Series C Warrants |
|
May 05, 2021 |
Minerva Holdco, Inc. |
|
Senior A Preferred Stock |
|
February 14, 2022 |
Nylas, Inc. |
|
Series C Preferred Stock |
|
June 03, 2021 |
Orange Blossom Parent, Inc. |
|
Common Units |
|
March 24, 2025 |
Paradigmatic Holdco LLC (dba Pluralsight) |
|
Common stock |
|
August 22, 2024 |
Project Alpine Co-Invest Fund, LP |
|
LP Interest |
|
June 13, 2022 |
Project Hotel California Co-Invest Fund, L.P. |
|
LP Interest |
|
August 09, 2022 |
Replicated, Inc. |
|
Series C Preferred Stock |
|
June 30, 2021 |
Revolut Ribbit Holdings, LLC |
|
LLC Interest |
|
September 30, 2021 |
Romulus Intermediate Holdings 1 Inc. (dba PetVet Care Centers) |
|
Series A Preferred Stock |
|
November 15, 2023 |
Saturn Ultimate, Inc. |
|
Common stock |
|
December 29, 2021 |
Securiti, Inc. |
|
Series C Preferred Shares |
|
July 29, 2022 |
Signifyd Inc. |
|
Preferred equity |
|
April 08, 2021 |
Simpler Postage, Inc. (dba Easypost) |
|
Warrants |
|
June 11, 2024 |
SLA Eclipse Co-Invest, L.P. |
|
LP Interest |
|
September 30, 2019 |
Space Exploration Technologies Corp. |
|
Class A Common Stock |
|
March 23, 2021 |
Space Exploration Technologies Corp. |
|
Class C Common Stock |
|
March 23, 2021 |
Sunshine Software Holdings, Inc. (dba Cornerstone OnDemand, Inc.) |
|
Series A Preferred Stock |
|
October 14, 2021 |
Thunder Topco L.P. (dba Vector Solutions) |
|
Common Units |
|
June 30, 2021 |
TravelPerk, Inc. |
|
Warrants |
|
May 02, 2024 |
VEPF Torreys Aggregator, LLC (dba MINDBODY, Inc.) |
|
Series A Preferred Stock |
|
October 15, 2021 |
Vestwell Holdings, Inc. |
|
Series D Preferred Stock |
|
December 20, 2023 |
Walker Edison Holdco LLC |
|
Common Units |
|
March 01, 2023 |
WMC Bidco, Inc. (dba West Monroe) |
|
Senior Preferred Stock |
|
November 09, 2021 |
WP Irving Co-Invest, L.P. |
|
Partnership Units |
|
May 18, 2022 |
XOMA Corporation |
|
Warrants |
|
December 15, 2023 |
Zoro TopCo, Inc. |
|
Series A Preferred Equity |
|
November 22, 2022 |
Zoro TopCo, L.P. |
|
Class A Common Units |
|
November 22, 2022 |
(18)Unless otherwise indicated, the Company’s portfolio companies are pledged as collateral supporting the amounts outstanding under the Revolving Credit Facility, SPV Asset Facility I, SPV Asset Facility II, SPV Asset Facility III, SPV Asset Facility IV, Athena CLO II, Athena CLO IV and CLO 2020-1. See Note 5 “Debt”.
(19)This portfolio company is not pledged as collateral supporting the amounts outstanding under the Revolving Credit Facility, SPV Asset Facility I, SPV Asset Facility II, SPV Asset Facility III, SPV Asset Facility IV, Athena CLO II, Athena CLO IV and CLO 2020-1. See Note 5 “Debt”.
(20)Unless otherwise indicated, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Company owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.
(21)Under the Investment Company Act of 1940, as amended (the “1940 Act”), the Company is deemed to be an “Affiliated Person” of, as defined in the 1940 Act, this portfolio company, as the Company owns more than 5% but less than 25% of the portfolio company’s outstanding voting securities. Transactions during the period ended March 31, 2025 in which the Company was an Affiliated Person of the portfolio company are as follows:
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands, except share amounts)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company |
|
Fair Value at December 31, 2024 |
|
Gross Additions (a) |
|
Gross Reductions (b) |
|
Net Change in Unrealized Gain/(Loss) |
|
Realized Gains/(Loss) |
|
Transfers |
|
Fair Value at March 31, 2025 |
|
Interest Income |
|
Dividend Income |
|
Other Income |
Non-Controlled Affiliates |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC |
|
$ |
— |
|
|
$ |
18,371 |
|
|
$ |
(24) |
|
|
$ |
384 |
|
|
$ |
— |
|
|
$ |
4,173 |
|
|
$ |
22,904 |
|
|
$ |
47 |
|
|
$ |
— |
|
|
$ |
19 |
|
AAM Series 2.1 Aviation Feeder, LLC |
|
— |
|
|
21,311 |
|
|
(52) |
|
|
(82) |
|
|
— |
|
|
4,316 |
|
|
25,493 |
|
|
122 |
|
|
— |
|
|
— |
|
Coherent Group LTD |
|
— |
|
|
15,241 |
|
|
— |
|
|
(13) |
|
|
— |
|
|
— |
|
|
15,228 |
|
|
5 |
|
|
— |
|
|
— |
|
Fifth Season Investments LLC |
|
62,517 |
|
|
76,807 |
|
|
— |
|
|
(1,965) |
|
|
— |
|
|
— |
|
|
137,359 |
|
|
— |
|
|
4,514 |
|
|
— |
|
Help HP SCF Investor, LP |
|
60,350 |
|
|
— |
|
|
— |
|
|
(427) |
|
|
— |
|
|
— |
|
|
59,923 |
|
|
— |
|
|
— |
|
|
— |
|
LSI Financing 1 DAC |
|
3,093 |
|
|
4,929 |
|
|
— |
|
|
(284) |
|
|
— |
|
|
— |
|
|
7,738 |
|
|
— |
|
|
— |
|
|
— |
|
LSI Financing LLC |
|
61,677 |
|
|
47,605 |
|
|
(17,218) |
|
|
3,812 |
|
|
— |
|
|
— |
|
|
95,876 |
|
|
— |
|
|
1,639 |
|
|
— |
|
Pluralsight, LLC |
|
88,660 |
|
|
1,102 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
89,762 |
|
|
1,628 |
|
|
— |
|
|
32 |
|
Securiti, Inc. |
|
— |
|
|
20,016 |
|
|
— |
|
|
(16) |
|
|
— |
|
|
20,000 |
|
|
40,000 |
|
|
— |
|
|
— |
|
|
— |
|
Signifyd Inc. |
|
126,065 |
|
|
— |
|
|
— |
|
|
875 |
|
|
— |
|
|
— |
|
|
126,940 |
|
|
— |
|
|
3,083 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Walker Edison Furniture Company LLC |
|
4,941 |
|
|
1,875 |
|
|
(7) |
|
|
(3,043) |
|
|
— |
|
|
— |
|
|
3,766 |
|
|
(5) |
|
|
— |
|
|
— |
|
Total Non-Controlled Affiliates |
|
$ |
407,303 |
|
|
$ |
207,257 |
|
|
$ |
(17,301) |
|
|
$ |
(759) |
|
|
$ |
— |
|
|
$ |
28,489 |
|
|
$ |
624,989 |
|
|
$ |
1,797 |
|
|
$ |
9,236 |
|
|
$ |
51 |
|
(a)Gross additions include increases in the cost basis of investments resulting from new investments, payment-in-kind interest (“PIK”) or dividends, and the amortization of any unearned income or discounts on equity investments, as applicable.
(b)Gross reductions include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, and the amortization of any premiums on equity investments, as applicable.
(c)In connection with its investment in AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC and AAM Series 2.1 Aviation Feeder, LLC (collectively, “Amergin AssetCo”) the Company made a minority investment in Amergin Asset Management, LLC, which has entered into a Servicing Agreement with Amergin AssetCo.
(22)As defined in the 1940 Act, the Company is deemed to be both an “Affiliated Person” and has “Control” of this portfolio company as the Company owns more than 25% of the portfolio company’s outstanding voting securities or has the power to exercise control over management or policies of such portfolio company, including through a management agreement (“controlled affiliate”). The Company’s investments in controlled affiliates for the period ended March 31, 2025, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company |
|
Fair Value at December 31, 2024 |
|
Gross Additions (a) |
|
Gross Reductions (b) |
|
Net Change in Unrealized Gain/(Loss) |
|
Realized Gains/(Loss) |
|
Transfers |
|
Fair Value at March 31, 2025 |
|
Interest Income |
|
Dividend Income |
|
Other Income |
Controlled Affiliates |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Owl Credit SLF LLC(c)
|
|
$ |
947 |
|
|
$ |
1,503 |
|
|
$ |
— |
|
|
$ |
2 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
2,452 |
|
|
$ |
— |
|
|
$ |
55 |
|
|
$ |
— |
|
Revolut Ribbit Holdings, LLC |
|
106,443 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
106,443 |
|
|
— |
|
|
— |
|
|
— |
|
Total Controlled Affiliates |
|
$ |
107,390 |
|
|
$ |
1,503 |
|
|
$ |
— |
|
|
$ |
2 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
108,895 |
|
|
$ |
— |
|
|
$ |
55 |
|
|
$ |
— |
|
(a)Gross additions include increases in the cost basis of investments resulting from new investments, PIK or dividends, and the amortization of any unearned income or discounts on equity investments, as applicable.
(b)Gross reductions include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, and the amortization of any premiums on equity investments, as applicable.
(c)For further description of the Company's investment in Blue Owl Credit SLF LLC (“Credit SLF”), see Note 4 “Investments.”
(23)This portfolio company is not a qualifying asset under Section 55(a) of the 1940 Act. Under the 1940 Act, the Company may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of total assets. As of March 31, 2025, non-qualifying assets represented 13.7% of total assets as calculated in accordance with the regulatory requirements.
(24)Non-income producing investment.
(25)Loan was on non-accrual status as of March 31, 2025.
(26)Contains a fixed-rate structure.
(27)Harness Inc. has retained 304,990 shares until June 11, 2026 as a security for indemnity obligations detailed in the Merger Agreement with Split Software, Inc.
(28)The negative cost and fair value results from unamortized fees, which are capitalized to the investment cost of unfunded commitments.
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of March 31, 2025
(Amounts in thousands, except share amounts)
(Unaudited)
The accompanying notes are an integral part of these consolidated financial statements.
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of December 31, 2024
(Amounts in thousands, except share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company(1)(7)(17)(19) |
|
Investment |
|
Interest |
|
Maturity Date |
|
Par / Units |
|
Amortized Cost(2)(3) |
|
Fair Value |
|
Percentage of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-controlled/non-affiliated portfolio company investments |
|
|
|
|
|
|
|
|
Debt Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aerospace & defense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ManTech International Corporation(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.00% |
|
9/2029 |
|
$ |
6,988 |
|
|
$ |
6,988 |
|
|
$ |
6,988 |
|
|
0.2 |
% |
Peraton Corp.(3)(6)(9)(13) |
|
Second lien senior secured loan |
|
S+ |
|
7.75% |
|
2/2029 |
|
84,551 |
|
|
83,762 |
|
|
68,148 |
|
|
1.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
90,750 |
|
|
75,136 |
|
|
2.1 |
% |
Application Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AI Titan Parent, Inc. (dba Prometheus Group)(6)(8)(13) |
|
First lien senior secured loan |
|
S+ |
|
4.75% |
|
8/2031 |
|
22,642 |
|
|
22,423 |
|
|
22,415 |
|
|
0.6 |
% |
AlphaSense, Inc.(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
6.25% |
|
6/2029 |
|
27,383 |
|
|
27,132 |
|
|
27,110 |
|
|
0.7 |
% |
Anaplan, Inc.(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.25% |
|
6/2029 |
|
50,696 |
|
|
50,596 |
|
|
50,696 |
|
|
1.4 |
% |
Armstrong Bidco Limited(6)(11)(13)(14)(22) |
|
First lien senior secured GBP term loan |
|
SA+ |
|
5.25% |
|
6/2029 |
|
£ |
8,086 |
|
|
9,775 |
|
|
10,077 |
|
|
0.3 |
% |
Artifact Bidco, Inc. (dba Avetta)(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
4.50% |
|
7/2031 |
|
15,982 |
|
|
15,907 |
|
|
15,902 |
|
|
0.4 |
% |
Avalara, Inc.(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
6.25% |
|
10/2028 |
|
9,091 |
|
|
8,994 |
|
|
9,091 |
|
|
0.3 |
% |
Boxer Parent Company Inc. (f/k/a BMC)(3)(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
3.75% |
|
7/2031 |
|
10,000 |
|
|
9,977 |
|
|
10,074 |
|
|
0.3 |
% |
Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.)(6)(9)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
5.50% |
|
8/2027 |
|
78,766 |
|
|
77,760 |
|
|
76,477 |
|
|
2.1 |
% |
CivicPlus, LLC(6)(9)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
5.75% |
|
8/2027 |
|
68,151 |
|
|
67,813 |
|
|
68,151 |
|
|
1.9 |
% |
Coupa Holdings, LLC(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.25% |
|
2/2030 |
|
781 |
|
|
781 |
|
|
781 |
|
|
— |
% |
CP PIK DEBT ISSUER, LLC (dba CivicPlus, LLC)(6)(10)(13) |
|
Unsecured notes |
|
S+ |
|
11.75% PIK |
|
6/2034 |
|
46,503 |
|
|
45,760 |
|
|
46,503 |
|
|
1.3 |
% |
Diamondback Acquisition, Inc. (dba Sphera)(6)(8)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.50% |
|
9/2028 |
|
75,864 |
|
|
74,948 |
|
|
75,485 |
|
|
2.1 |
% |
Fullsteam Operations, LLC(6)(9)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
8.25% |
|
11/2029 |
|
15,407 |
|
|
15,003 |
|
|
15,407 |
|
|
0.4 |
% |
Fullsteam Operations, LLC(6)(9)(13)(14) |
|
First lien senior secured delayed draw term loan |
|
S+ |
|
7.00% |
|
11/2029 |
|
969 |
|
|
915 |
|
|
961 |
|
|
— |
% |
Gainsight, Inc.(6)(9)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
6.00% |
|
7/2027 |
|
70,687 |
|
|
70,190 |
|
|
70,687 |
|
|
1.9 |
% |
Granicus, Inc.(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.75% (2.25% PIK) |
|
1/2031 |
|
1,960 |
|
|
1,943 |
|
|
1,960 |
|
|
0.1 |
% |
Granicus, Inc.(6)(9)(13) |
|
First lien senior secured delayed draw term loan |
|
S+ |
|
5.25% (2.25% PIK) |
|
1/2031 |
|
290 |
|
|
288 |
|
|
287 |
|
|
— |
% |
GS Acquisitionco, Inc. (dba insightsoftware)(6)(9)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
5.25% |
|
5/2028 |
|
52,817 |
|
|
52,654 |
|
|
52,413 |
|
|
1.4 |
% |
JS Parent, Inc. (dba Jama Software)(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.00% |
|
4/2031 |
|
13,642 |
|
|
13,579 |
|
|
13,642 |
|
|
0.4 |
% |
Magnet Forensics, LLC (f/k/a Grayshift, LLC)(6)(8)(13)(22) |
|
First lien senior secured loan |
|
S+ |
|
5.00% |
|
7/2028 |
|
27,761 |
|
|
27,731 |
|
|
27,761 |
|
|
0.8 |
% |
Ministry Brands Holdings, LLC(6)(8)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
5.50% |
|
12/2028 |
|
8,224 |
|
|
8,120 |
|
|
8,163 |
|
|
0.2 |
% |
Simpler Postage, Inc. (dba Easypost)(6)(8)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
8.00% |
|
6/2029 |
|
19,215 |
|
|
18,328 |
|
|
18,322 |
|
|
0.5 |
% |
Tamarack Intermediate, L.L.C. (dba Verisk 3E)(6)(9)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
5.75% |
|
3/2028 |
|
12,117 |
|
|
11,964 |
|
|
12,056 |
|
|
0.3 |
% |
Velocity HoldCo III Inc. (dba VelocityEHS)(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.50% |
|
4/2027 |
|
40,208 |
|
|
39,802 |
|
|
40,208 |
|
|
1.1 |
% |
XPLOR T1, LLC(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
3.50% |
|
6/2031 |
|
4,988 |
|
|
4,988 |
|
|
5,025 |
|
|
0.1 |
% |
Zendesk, Inc.(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.00% |
|
11/2028 |
|
52,903 |
|
|
52,170 |
|
|
52,903 |
|
|
1.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of December 31, 2024
(Amounts in thousands, except share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company(1)(7)(17)(19) |
|
Investment |
|
Interest |
|
Maturity Date |
|
Par / Units |
|
Amortized Cost(2)(3) |
|
Fair Value |
|
Percentage of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
729,541 |
|
|
732,557 |
|
|
20.1 |
% |
Banks |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finastra USA, Inc.(6)(9)(13)(14)(22) |
|
First lien senior secured loan |
|
S+ |
|
7.25% |
|
9/2029 |
|
76,194 |
|
|
75,417 |
|
|
76,194 |
|
|
2.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
75,417 |
|
|
76,194 |
|
|
2.1 |
% |
Building products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EET Buyer, Inc. (dba e-Emphasys)(6)(9)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
4.75% |
|
11/2027 |
|
56,056 |
|
|
55,678 |
|
|
56,056 |
|
|
1.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
55,678 |
|
|
56,056 |
|
|
1.5 |
% |
Buildings & Real Estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Associations Finance, Inc.(13)(25) |
|
Unsecured notes |
|
|
|
14.25% PIK |
|
5/2030 |
|
19,978 |
|
|
19,845 |
|
|
19,978 |
|
|
0.6 |
% |
Associations, Inc.(6)(9)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
6.50% |
|
7/2028 |
|
51,699 |
|
|
51,649 |
|
|
51,699 |
|
|
1.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
71,494 |
|
|
71,677 |
|
|
2.0 |
% |
Commercial Services & Supplies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SimpliSafe Holding Corporation(6)(8)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
6.25% |
|
5/2028 |
|
904 |
|
|
893 |
|
|
904 |
|
|
— |
% |
Pye-Barker Fire & Safety, LLC(6)(9)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
4.50% |
|
5/2031 |
|
18,740 |
|
|
18,638 |
|
|
18,693 |
|
|
0.5 |
% |
Pye-Barker Fire & Safety, LLC(6)(9)(13)(14) |
|
First lien senior secured revolving loan |
|
S+ |
|
4.50% |
|
5/2030 |
|
341 |
|
|
329 |
|
|
334 |
|
|
— |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,860 |
|
|
19,931 |
|
|
0.5 |
% |
Consumer Finance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Klarna Holding AB(6)(9)(13) |
|
Subordinated Floating Rate Notes |
|
|
|
7.00% |
|
4/2034 |
|
32,667 |
|
|
32,667 |
|
|
32,667 |
|
|
0.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
32,667 |
|
|
32,667 |
|
|
0.9 |
% |
Diversified Consumer Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Icefall Parent, Inc. (dba EngageSmart)(6)(8)(13) |
|
First lien senior secured loan |
|
S+ |
|
6.50% |
|
1/2030 |
|
12,783 |
|
|
12,557 |
|
|
12,783 |
|
|
0.4 |
% |
Litera Bidco LLC(6)(8)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
5.00% |
|
5/2028 |
|
130,589 |
|
|
129,990 |
|
|
130,263 |
|
|
3.6 |
% |
Relativity ODA LLC(6)(8)(13) |
|
First lien senior secured loan |
|
S+ |
|
4.50% |
|
5/2029 |
|
92,129 |
|
|
91,781 |
|
|
91,899 |
|
|
2.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
234,328 |
|
|
234,945 |
|
|
6.5 |
% |
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC(13)(14)(25) |
|
First lien senior secured loan |
|
|
|
12.00% PIK |
|
7/2030 |
|
2,507 |
|
|
2,490 |
|
|
2,507 |
|
|
0.1 |
% |
AAM Series 2.1 Aviation Feeder, LLC(13)(14)(25) |
|
First lien senior secured loan |
|
|
|
12.00% PIK |
|
11/2030 |
|
2,534 |
|
|
2,534 |
|
|
2,534 |
|
|
0.1 |
% |
Blackhawk Network Holdings, Inc.(3)(6)(8)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.00% |
|
3/2029 |
|
59,700 |
|
|
58,613 |
|
|
60,363 |
|
|
1.7 |
% |
BTRS HOLDINGS INC. (dba Billtrust)(6)(9)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
7.25% |
|
12/2028 |
|
944 |
|
|
924 |
|
|
941 |
|
|
— |
% |
Computer Services, Inc. (dba CSI)(6)(9)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
5.25% |
|
11/2029 |
|
7,443 |
|
|
7,398 |
|
|
7,443 |
|
|
0.2 |
% |
Computer Services, Inc. (dba CSI)(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
4.75% |
|
11/2029 |
|
26,592 |
|
|
26,463 |
|
|
26,459 |
|
|
0.7 |
% |
Hg Genesis 8 Sumoco Limited(6)(11)(13)(22) |
|
Unsecured facility |
|
SA+ |
|
7.00% PIK |
|
9/2027 |
|
£ |
16,420 |
|
|
20,996 |
|
|
20,565 |
|
|
0.6 |
% |
Hg Genesis 9 SumoCo Limited(6)(12)(13)(22) |
|
Unsecured facility |
|
E+ |
|
6.25% PIK |
|
3/2029 |
|
€ |
9,187 |
|
|
10,055 |
|
|
9,513 |
|
|
0.3 |
% |
Hg Saturn Luchaco Limited(6)(11)(13)(22) |
|
Unsecured facility |
|
SA+ |
|
7.50% PIK |
|
3/2026 |
|
£ |
38,430 |
|
|
48,784 |
|
|
48,130 |
|
|
1.3 |
% |
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of December 31, 2024
(Amounts in thousands, except share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company(1)(7)(17)(19) |
|
Investment |
|
Interest |
|
Maturity Date |
|
Par / Units |
|
Amortized Cost(2)(3) |
|
Fair Value |
|
Percentage of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Minotaur Acquisition, Inc. (dba Inspira Financial)(6)(8)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
5.00% |
|
6/2030 |
|
61,704 |
|
|
61,090 |
|
|
61,396 |
|
|
1.7 |
% |
NMI Acquisitionco, Inc. (dba Network Merchants)(6)(8)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
5.00% |
|
9/2028 |
|
24,357 |
|
|
24,283 |
|
|
24,357 |
|
|
0.7 |
% |
Smarsh Inc.(6)(9)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
5.75% |
|
2/2029 |
|
49,714 |
|
|
49,350 |
|
|
49,714 |
|
|
1.4 |
% |
Smarsh Inc.(6)(8)(13)(14) |
|
First lien senior secured revolving loan |
|
S+ |
|
5.75% |
|
2/2029 |
|
177 |
|
|
174 |
|
|
177 |
|
|
— |
% |
|
|
|
|
|
|
|
|
|
|
|
|
313,154 |
|
|
314,099 |
|
|
8.8 |
% |
Entertainment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aerosmith Bidco 1 Limited (dba Audiotonix)(6)(8)(13)(22) |
|
First lien senior secured loan |
|
S+ |
|
5.25% |
|
7/2031 |
|
120,979 |
|
|
119,493 |
|
|
120,676 |
|
|
3.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
119,493 |
|
|
120,676 |
|
|
3.3 |
% |
Equity Real Estate Investment Trusts (REITs) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Storable, Inc.(3)(6)(8)(13) |
|
First lien senior secured loan |
|
S+ |
|
3.50% |
|
4/2028 |
|
4,974 |
|
|
4,944 |
|
|
5,004 |
|
|
0.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,944 |
|
|
5,004 |
|
|
0.1 |
% |
Food & Staples Retailing |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IRI Group Holdings, Inc. (f/k/a Circana Group, L.P. (f/k/a The NPD Group, L.P.))(6)(8)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.00% |
|
12/2028 |
|
24,292 |
|
|
24,292 |
|
|
24,292 |
|
|
0.7 |
% |
IRI Group Holdings, Inc. (f/k/a Circana Group, L.P. (f/k/a The NPD Group, L.P.))(6)(9)(13)(14) |
|
First lien senior secured revolving loan |
|
S+ |
|
5.00% |
|
12/2027 |
|
302 |
|
|
302 |
|
|
302 |
|
|
— |
% |
|
|
|
|
|
|
|
|
|
|
|
|
24,594 |
|
|
24,594 |
|
|
0.7 |
% |
Health Care Providers & Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
KWOL Acquisition Inc. (dba Worldwide Clinical Trials)(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
4.75% |
|
12/2029 |
|
22,668 |
|
|
22,300 |
|
|
22,668 |
|
|
0.6 |
% |
PetVet Care Centers, LLC(6)(8)(13) |
|
First lien senior secured loan |
|
S+ |
|
6.00% |
|
11/2030 |
|
38,858 |
|
|
38,514 |
|
|
37,206 |
|
|
1.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
60,814 |
|
|
59,874 |
|
|
1.6 |
% |
Health Care Technology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BCPE Osprey Buyer, Inc. (dba PartsSource)(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.75% |
|
8/2028 |
|
114,142 |
|
|
113,042 |
|
|
112,715 |
|
|
3.1 |
% |
BCPE Osprey Buyer, Inc. (dba PartsSource)(6)(8)(13)(14) |
|
First lien senior secured delayed draw term loan |
|
S+ |
|
5.75% |
|
8/2028 |
|
10,467 |
|
|
10,165 |
|
|
10,282 |
|
|
0.3 |
% |
BCPE Osprey Buyer, Inc. (dba PartsSource)(6)(8)(13)(14) |
|
First lien senior secured revolving loan |
|
S+ |
|
5.75% |
|
8/2026 |
|
8,155 |
|
|
8,085 |
|
|
8,002 |
|
|
0.2 |
% |
CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant)(6)(8)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.00% |
|
8/2031 |
|
58,027 |
|
|
57,705 |
|
|
57,882 |
|
|
1.6 |
% |
GI Ranger Intermediate, LLC (dba Rectangle Health)(6)(9)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
6.00% |
|
10/2028 |
|
26,955 |
|
|
26,602 |
|
|
26,483 |
|
|
0.7 |
% |
GI Ranger Intermediate, LLC (dba Rectangle Health)(6)(9)(13)(14) |
|
First lien senior secured revolving loan |
|
S+ |
|
6.00% |
|
10/2027 |
|
258 |
|
|
237 |
|
|
219 |
|
|
— |
% |
Greenway Health, LLC(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
6.75% |
|
4/2029 |
|
8,685 |
|
|
8,514 |
|
|
8,577 |
|
|
0.2 |
% |
Hyland Software, Inc.(6)(8)(13) |
|
First lien senior secured loan |
|
S+ |
|
6.00% |
|
9/2030 |
|
85,028 |
|
|
83,923 |
|
|
85,028 |
|
|
2.3 |
% |
Indikami Bidco, LLC (dba IntegriChain)(6)(8)(13) |
|
First lien senior secured loan |
|
S+ |
|
6.50% (2.50% PIK) |
|
12/2030 |
|
61,081 |
|
|
59,862 |
|
|
60,776 |
|
|
1.7 |
% |
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of December 31, 2024
(Amounts in thousands, except share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company(1)(7)(17)(19) |
|
Investment |
|
Interest |
|
Maturity Date |
|
Par / Units |
|
Amortized Cost(2)(3) |
|
Fair Value |
|
Percentage of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Indikami Bidco, LLC (dba IntegriChain)(6)(8)(13)(14) |
|
First lien senior secured delayed draw term loan |
|
S+ |
|
6.00% |
|
12/2030 |
|
479 |
|
|
413 |
|
|
476 |
|
|
— |
% |
Indikami Bidco, LLC (dba IntegriChain)(6)(8)(13)(14) |
|
First lien senior secured revolving loan |
|
S+ |
|
6.00% |
|
6/2030 |
|
2,155 |
|
|
2,042 |
|
|
2,125 |
|
|
0.1 |
% |
Inovalon Holdings, Inc.(6)(9)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
5.75% |
|
11/2028 |
|
151,132 |
|
|
148,946 |
|
|
149,243 |
|
|
4.1 |
% |
Inovalon Holdings, Inc.(6)(9)(13) |
|
Second lien senior secured loan |
|
S+ |
|
10.50% PIK |
|
11/2033 |
|
94,457 |
|
|
93,376 |
|
|
93,513 |
|
|
2.6 |
% |
Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.)(6)(9)(13)(14)(22) |
|
First lien senior secured loan |
|
S+ |
|
6.50% |
|
8/2026 |
|
164,732 |
|
|
164,030 |
|
|
160,614 |
|
|
4.4 |
% |
Interoperability Bidco, Inc. (dba Lyniate)(6)(9)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
6.25% |
|
3/2028 |
|
87,018 |
|
|
86,769 |
|
|
84,841 |
|
|
2.3 |
% |
Interoperability Bidco, Inc. (dba Lyniate)(6)(8)(13)(14) |
|
First lien senior secured revolving loan |
|
S+ |
|
6.25% |
|
3/2028 |
|
352 |
|
|
312 |
|
|
183 |
|
|
— |
% |
Neptune Holdings, Inc. (dba NexTech)(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
4.75% |
|
8/2030 |
|
4,368 |
|
|
4,346 |
|
|
4,368 |
|
|
0.1 |
% |
RL Datix Holdings (USA), Inc.(6)(10)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.50% |
|
4/2031 |
|
48,700 |
|
|
48,249 |
|
|
48,457 |
|
|
1.3 |
% |
RL Datix Holdings (USA), Inc.(6)(9)(13)(14) |
|
First lien senior secured revolving loan |
|
S+ |
|
5.50% |
|
10/2030 |
|
1,266 |
|
|
1,180 |
|
|
1,218 |
|
|
— |
% |
RL Datix Holdings (USA), Inc.(6)(11)(13) |
|
First lien senior secured GBP term loan |
|
SA+ |
|
5.50% |
|
4/2031 |
|
£ |
22,553 |
|
|
27,908 |
|
|
28,104 |
|
|
0.8 |
% |
Salinger Bidco Inc. (dba Surgical Information Systems)(6)(8)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.75% |
|
8/2031 |
|
14,531 |
|
|
14,321 |
|
|
14,495 |
|
|
0.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
960,027 |
|
|
957,601 |
|
|
26.2 |
% |
Hotels, Restaurants & Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MINDBODY, Inc.(6)(9)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
7.00% |
|
9/2025 |
|
72,962 |
|
|
72,929 |
|
|
72,962 |
|
|
2.0 |
% |
Par Technology Corporation(6)(8)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.00% |
|
7/2029 |
|
19,286 |
|
|
19,008 |
|
|
19,093 |
|
|
0.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
91,937 |
|
|
92,055 |
|
|
2.5 |
% |
Household Durables |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BCTO BSI Buyer, Inc. (dba Buildertrend)(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
6.50% |
|
12/2026 |
|
84,045 |
|
|
83,727 |
|
|
84,045 |
|
|
2.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
83,727 |
|
|
84,045 |
|
|
2.3 |
% |
Industrial Conglomerates |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aptean Acquiror, Inc. (dba Aptean)(6)(9)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
5.00% |
|
1/2031 |
|
3,314 |
|
|
3,283 |
|
|
3,305 |
|
|
0.1 |
% |
QAD, Inc.(6)(8)(13) |
|
First lien senior secured loan |
|
S+ |
|
4.75% |
|
11/2027 |
|
88,166 |
|
|
88,167 |
|
|
87,946 |
|
|
2.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
91,450 |
|
|
91,251 |
|
|
2.5 |
% |
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asurion, LLC(3)(6)(8)(13) |
|
Second lien senior secured loan |
|
S+ |
|
5.25% |
|
1/2028 |
|
10,833 |
|
|
10,702 |
|
|
10,555 |
|
|
0.3 |
% |
Diamond Insure Bidco (dba Acturis)(6)(13) |
|
First lien senior secured EUR term loan |
|
E+ |
|
4.25% |
|
7/2031 |
|
€ |
625 |
|
|
658 |
|
|
636 |
|
|
— |
% |
Diamond Insure Bidco (dba Acturis)(6)(11)(13) |
|
First lien senior secured GBP term loan |
|
SA+ |
|
4.50% |
|
7/2031 |
|
£ |
2,042 |
|
|
2,533 |
|
|
2,513 |
|
|
0.1 |
% |
Disco Parent, Inc. (dba Duck Creek Technologies, Inc.)(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
7.50% |
|
3/2029 |
|
1,064 |
|
|
1,043 |
|
|
1,056 |
|
|
— |
% |
Integrity Marketing Acquisition, LLC(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.00% |
|
8/2028 |
|
47,836 |
|
|
47,606 |
|
|
47,836 |
|
|
1.3 |
% |
Simplicity Financial Marketing Group Holdings, Inc.(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.00% |
|
12/2031 |
|
3,571 |
|
|
3,536 |
|
|
3,536 |
|
|
0.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
66,078 |
|
|
66,132 |
|
|
1.8 |
% |
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of December 31, 2024
(Amounts in thousands, except share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company(1)(7)(17)(19) |
|
Investment |
|
Interest |
|
Maturity Date |
|
Par / Units |
|
Amortized Cost(2)(3) |
|
Fair Value |
|
Percentage of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Internet & Direct Marketing Retail |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aurelia Netherlands B.V.(6)(12)(13)(22) |
|
First lien senior secured EUR term loan |
|
E+ |
|
5.75% |
|
5/2031 |
|
€ |
25,282 |
|
|
26,511 |
|
|
26,049 |
|
|
0.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26,511 |
|
|
26,049 |
|
|
0.7 |
% |
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Kaseya Inc.(6)(8)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.50% |
|
6/2029 |
|
15,865 |
|
|
15,644 |
|
|
15,865 |
|
|
0.4 |
% |
Kaseya Inc.(6)(9)(13)(14) |
|
First lien senior secured delayed draw term loan |
|
S+ |
|
5.50% |
|
6/2029 |
|
482 |
|
|
462 |
|
|
482 |
|
|
— |
% |
Severin Acquisition, LLC (dba PowerSchool)(6)(8)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.00% (2.25% PIK) |
|
10/2031 |
|
31,972 |
|
|
31,663 |
|
|
31,653 |
|
|
0.9 |
% |
Spaceship Purchaser, Inc. (dba Squarespace)(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.00% |
|
10/2031 |
|
83,848 |
|
|
83,438 |
|
|
83,429 |
|
|
2.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
131,207 |
|
|
131,429 |
|
|
3.6 |
% |
Life Sciences Tools & Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bamboo US BidCo LLC(6)(12)(13) |
|
First lien senior secured EUR term loan |
|
E+ |
|
5.25% |
|
9/2030 |
|
€ |
3,139 |
|
|
3,302 |
|
|
3,250 |
|
|
0.1 |
% |
Bamboo US BidCo LLC(6)(9)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
5.25% |
|
9/2030 |
|
5,498 |
|
|
5,498 |
|
|
5,498 |
|
|
0.2 |
% |
Creek Parent, Inc. (dba Catalent)(6)(8)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.25% |
|
12/2031 |
|
84,384 |
|
|
82,913 |
|
|
82,907 |
|
|
2.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
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|
|
|
|
|
|
|
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|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
91,713 |
|
|
91,655 |
|
|
2.6 |
% |
Media |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Monotype Imaging Holdings Inc.(6)(9)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
5.50% |
|
2/2031 |
|
59,806 |
|
|
59,379 |
|
|
59,656 |
|
|
1.6 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
59,379 |
|
|
59,656 |
|
|
1.6 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Multiline Retail |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PDI TA Holdings, Inc.(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.00% |
|
2/2031 |
|
8,989 |
|
|
8,867 |
|
|
8,899 |
|
|
0.2 |
% |
PDI TA Holdings, Inc.(6)(9)(13)(14) |
|
First lien senior secured delayed draw term loan |
|
S+ |
|
5.50% |
|
2/2031 |
|
1,166 |
|
|
1,142 |
|
|
1,150 |
|
|
— |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,009 |
|
|
10,049 |
|
|
0.2 |
% |
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Certinia Inc.(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.25% |
|
8/2030 |
|
29,412 |
|
|
29,010 |
|
|
29,412 |
|
|
0.8 |
% |
CloudPay, Inc.(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
7.50% |
|
7/2029 |
|
9,682 |
|
|
9,597 |
|
|
9,585 |
|
|
0.3 |
% |
Cornerstone OnDemand, Inc.(6)(8)(13) |
|
Second lien senior secured loan |
|
S+ |
|
6.50% |
|
10/2029 |
|
71,667 |
|
|
70,928 |
|
|
61,096 |
|
|
1.7 |
% |
Gerson Lehrman Group, Inc.(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.25% |
|
12/2027 |
|
18,895 |
|
|
18,763 |
|
|
18,848 |
|
|
0.5 |
% |
Thunder Purchaser, Inc. (dba Vector Solutions)(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.50% |
|
6/2028 |
|
139,757 |
|
|
138,958 |
|
|
139,757 |
|
|
3.9 |
% |
TK Operations Ltd (dba Travelperk, Inc.)(13)(25) |
|
First lien senior secured loan |
|
|
|
11.50% PIK |
|
5/2029 |
|
22,152 |
|
|
20,418 |
|
|
20,546 |
|
|
0.6 |
% |
When I Work, Inc.(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.50% |
|
11/2027 |
|
36,277 |
|
|
36,116 |
|
|
35,008 |
|
|
1.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
323,790 |
|
|
314,252 |
|
|
8.8 |
% |
Real Estate Management & Development |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Entrata, Inc.(6)(8)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.75% |
|
7/2030 |
|
888 |
|
|
877 |
|
|
888 |
|
|
— |
% |
RealPage, Inc.(3)(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
3.75% |
|
4/2028 |
|
35,000 |
|
|
34,825 |
|
|
35,088 |
|
|
1.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
35,702 |
|
|
35,976 |
|
|
1.0 |
% |
Systems Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acquia Inc.(6)(9)(14) |
|
First lien senior secured loan |
|
S+ |
|
7.00% |
|
10/2025 |
|
183,111 |
|
|
182,696 |
|
|
183,111 |
|
|
5.1 |
% |
Activate Holdings (US) Corp. (dba Absolute Software)(6)(9)(13)(14)(22) |
|
First lien senior secured loan |
|
S+ |
|
5.25% |
|
7/2030 |
|
5,711 |
|
|
5,689 |
|
|
5,711 |
|
|
0.2 |
% |
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of December 31, 2024
(Amounts in thousands, except share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company(1)(7)(17)(19) |
|
Investment |
|
Interest |
|
Maturity Date |
|
Par / Units |
|
Amortized Cost(2)(3) |
|
Fair Value |
|
Percentage of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Arctic Wolf Networks, Inc.(13)(25) |
|
Senior convertible notes |
|
|
|
3.00% PIK |
|
9/2027 |
|
127,843 |
|
|
159,282 |
|
|
159,279 |
|
|
4.4 |
% |
Azurite Intermediate Holdings, Inc. (dba Alteryx, Inc.)(6)(8)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
6.50% |
|
3/2031 |
|
42,751 |
|
|
42,154 |
|
|
42,430 |
|
|
1.2 |
% |
Bayshore Intermediate #2, L.P. (dba Boomi)(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
6.25% (3.38% PIK) |
|
10/2028 |
|
104,763 |
|
|
104,745 |
|
|
104,763 |
|
|
2.9 |
% |
Crewline Buyer, Inc. (dba New Relic)(6)(8)(13) |
|
First lien senior secured loan |
|
S+ |
|
6.75% |
|
11/2030 |
|
94,034 |
|
|
92,781 |
|
|
92,859 |
|
|
2.6 |
% |
Databricks, Inc.(6)(8)(13) |
|
First lien senior secured loan |
|
S+ |
|
4.50% |
|
1/2031 |
|
53,061 |
|
|
52,796 |
|
|
52,796 |
|
|
1.5 |
% |
Delinea Buyer, Inc. (f/k/a Centrify)(6)(9)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
5.75% |
|
3/2028 |
|
105,727 |
|
|
104,218 |
|
|
105,727 |
|
|
2.9 |
% |
Delta TopCo, Inc. (dba Infoblox, Inc.)(3)(6)(10) |
|
Second lien senior secured loan |
|
S+ |
|
5.25% |
|
11/2030 |
|
13,500 |
|
|
13,434 |
|
|
13,676 |
|
|
0.4 |
% |
Forescout Technologies, Inc.(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
5.00% |
|
5/2031 |
|
66,583 |
|
|
66,317 |
|
|
66,295 |
|
|
1.8 |
% |
H&F Opportunities LUX III S.À R.L (dba Checkmarx)(6)(8)(13)(22) |
|
First lien senior secured loan |
|
S+ |
|
7.50% |
|
4/2026 |
|
148,889 |
|
|
147,706 |
|
|
148,517 |
|
|
4.1 |
% |
Ivanti Software, Inc.(6)(9)(13) |
|
Second lien senior secured loan |
|
S+ |
|
7.25% |
|
12/2028 |
|
21,000 |
|
|
20,633 |
|
|
11,550 |
|
|
0.3 |
% |
LogRhythm, Inc.(6)(8)(13) |
|
First lien senior secured loan |
|
S+ |
|
7.50% |
|
7/2029 |
|
4,750 |
|
|
4,618 |
|
|
4,619 |
|
|
0.1 |
% |
Oranje Holdco, Inc. (dba KnowBe4)(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
7.75% |
|
2/2029 |
|
12,818 |
|
|
12,673 |
|
|
12,818 |
|
|
0.4 |
% |
Oranje Holdco, Inc. (dba KnowBe4)(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
7.25% |
|
2/2029 |
|
5,371 |
|
|
5,324 |
|
|
5,331 |
|
|
0.1 |
% |
Ping Identity Holding Corp.(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
4.75% |
|
10/2029 |
|
6,413 |
|
|
6,403 |
|
|
6,413 |
|
|
0.2 |
% |
Rubrik, Inc.(6)(9)(13)(14) |
|
First lien senior secured loan |
|
S+ |
|
7.00% |
|
8/2028 |
|
11,770 |
|
|
11,654 |
|
|
11,770 |
|
|
0.3 |
% |
SailPoint Technologies Holdings, Inc.(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
6.00% |
|
8/2029 |
|
29,853 |
|
|
29,387 |
|
|
29,853 |
|
|
0.8 |
% |
Securonix, Inc.(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
7.75% (3.75% PIK) |
|
4/2028 |
|
19,774 |
|
|
19,652 |
|
|
17,154 |
|
|
0.5 |
% |
Securonix, Inc.(6)(9)(13)(14) |
|
First lien senior secured revolving loan |
|
S+ |
|
7.00% |
|
4/2028 |
|
80 |
|
|
61 |
|
|
(391) |
|
|
— |
% |
Sitecore Holding III A/S(6)(12)(13) |
|
First lien senior secured EUR term loan |
|
E+ |
|
7.75% (4.25% PIK) |
|
3/2029 |
|
€ |
56,504 |
|
|
59,255 |
|
|
58,510 |
|
|
1.6 |
% |
Sitecore USA, Inc.(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
7.75% (4.25% PIK) |
|
3/2029 |
|
58,456 |
|
|
58,111 |
|
|
58,456 |
|
|
1.6 |
% |
Sitecore Holding III A/S(6)(9)(13) |
|
First lien senior secured loan |
|
S+ |
|
7.75% (4.25% PIK) |
|
3/2029 |
|
9,696 |
|
|
9,639 |
|
|
9,696 |
|
|
0.3 |
% |
Talon MidCo 2 Limited(6)(8)(13)(14)(22) |
|
First lien senior secured loan |
|
S+ |
|
6.95% |
|
8/2028 |
|
2,700 |
|
|
2,664 |
|
|
2,700 |
|
|
0.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
1,211,892 |
|
|
1,203,643 |
|
|
33.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-controlled/non-affiliated portfolio company debt investments |
|
|
|
$ |
5,016,156
|
|
|
$ |
4,987,203
|
|
|
137.4
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aerospace & Defense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Space Exploration Technologies Corp.(13)(16)(23) |
|
Class A Common Stock |
|
|
|
N/A |
|
N/A |
|
419,311 |
|
|
23,013 |
|
|
75,009 |
|
|
2.1 |
% |
Space Exploration Technologies Corp.(13)(16)(23) |
|
Class C Common Stock |
|
|
|
N/A |
|
N/A |
|
84,250 |
|
|
4,011 |
|
|
15,071 |
|
|
0.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of December 31, 2024
(Amounts in thousands, except share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company(1)(7)(17)(19) |
|
Investment |
|
Interest |
|
Maturity Date |
|
Par / Units |
|
Amortized Cost(2)(3) |
|
Fair Value |
|
Percentage of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
27,024 |
|
|
90,080 |
|
|
2.5 |
% |
Application Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6Sense Insights, Inc.(13)(16)(23) |
|
Series E-1 Preferred Stock |
|
|
|
N/A |
|
N/A |
|
1,264,514 |
|
|
40,066 |
|
|
32,116 |
|
|
0.9 |
% |
Alpha Partners Technology Merger Corp(2)(22)(23) |
|
Common stock |
|
|
|
N/A |
|
N/A |
|
30,000 |
|
|
1,000 |
|
|
334 |
|
|
— |
% |
Alpha Partners Technology Merger Corp(2)(16)(22)(23) |
|
Warrants |
|
|
|
N/A |
|
N/A |
|
666,666 |
|
|
— |
|
|
120 |
|
|
— |
% |
AlphaSense, LLC(13)(16)(23) |
|
Series E Preferred Shares |
|
|
|
N/A |
|
N/A |
|
131,200 |
|
|
5,929 |
|
|
5,890 |
|
|
0.2 |
% |
Diligent Preferred Issuer, Inc. (dba Diligent Corporation)(13)(16)(25) |
|
Preferred Stock |
|
|
|
10.50% PIK |
|
N/A |
|
15,000 |
|
|
21,147 |
|
|
20,622 |
|
|
0.6 |
% |
EShares, Inc. (dba Carta)(16)(23) |
|
Series E Preferred Stock |
|
|
|
N/A |
|
N/A |
|
186,904 |
|
|
2,008 |
|
|
4,225 |
|
|
0.1 |
% |
Insight CP (Blocker) Holdings, L.P. (dba CivicPlus, LLC)(13)(16)(22)(23) |
|
LP Interest |
|
|
|
N/A |
|
N/A |
|
$ |
2,281 |
|
|
2,285 |
|
|
2,862 |
|
|
0.1 |
% |
Bird Holding B.V. (fka MessageBird Holding B.V.)(13)(16)(22)(23) |
|
Extended Series C Warrants |
|
|
|
N/A |
|
N/A |
|
191,530 |
|
|
1,174 |
|
|
281 |
|
|
— |
% |
Nylas, Inc.(16)(23) |
|
Series C Preferred Stock |
|
|
|
N/A |
|
N/A |
|
2,088,467 |
|
|
15,009 |
|
|
3,427 |
|
|
0.1 |
% |
Project Alpine Co-Invest Fund, LP(13)(16)(22)(23) |
|
LP Interest |
|
|
|
N/A |
|
N/A |
|
$ |
3,644 |
|
|
3,646 |
|
|
4,785 |
|
|
0.1 |
% |
Saturn Ultimate, Inc.(13)(16)(23) |
|
Common stock |
|
|
|
N/A |
|
N/A |
|
5,580,593 |
|
|
25,008 |
|
|
47,930 |
|
|
1.3 |
% |
Simpler Postage, Inc. (dba Easypost)(13)(16)(23) |
|
Warrants |
|
|
|
N/A |
|
N/A |
|
65,694 |
|
|
827 |
|
|
827 |
|
|
— |
% |
Zoro TopCo, Inc.(9)(13)(16) |
|
Series A Preferred Equity |
|
S+ |
|
9.50% PIK |
|
N/A |
|
7,114 |
|
|
9,017 |
|
|
9,236 |
|
|
0.3 |
% |
Zoro TopCo, L.P.(13)(16)(23) |
|
Class A Common Units |
|
|
|
N/A |
|
N/A |
|
592,872 |
|
|
5,929 |
|
|
6,455 |
|
|
0.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
133,045 |
|
|
139,110 |
|
|
3.9 |
% |
Construction & Engineering |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dodge Construction Network Holdings, L.P.(6)(9)(13)(16) |
|
Series A Preferred Units |
|
S+ |
|
8.25% |
|
N/A |
|
— |
|
|
69 |
|
|
40 |
|
|
— |
% |
Dodge Construction Network Holdings, L.P.(13)(16)(23) |
|
Class A-2 Common Units |
|
|
|
N/A |
|
N/A |
|
3,333,333 |
|
|
2,841 |
|
|
474 |
|
|
— |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,910 |
|
|
514 |
|
|
— |
% |
Diversified Consumer Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SLA Eclipse Co-Invest, L.P.(3)(16)(22)(23) |
|
LP Interest |
|
|
|
N/A |
|
N/A |
|
$ |
15,000 |
|
|
15,256 |
|
|
18,078 |
|
|
0.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15,256 |
|
|
18,078 |
|
|
0.5 |
% |
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC(13)(14)(16)(22)(23) |
|
LLC Interest |
|
|
|
N/A |
|
N/A |
|
$ |
1,487 |
|
|
1,487 |
|
|
1,667 |
|
|
— |
% |
AAM Series 2.1 Aviation Feeder, LLC(13)(14)(16)(22)(23) |
|
LLC Interest |
|
|
|
N/A |
|
N/A |
|
$ |
1,422 |
|
|
1,425 |
|
|
1,781 |
|
|
— |
% |
Amergin Asset Management, LLC(13)(16)(22)(23) |
|
Class A Units |
|
|
|
N/A |
|
N/A |
|
25,000,000 |
|
|
— |
|
|
778 |
|
|
— |
% |
Brex, Inc.(16)(23) |
|
Preferred Stock |
|
|
|
N/A |
|
N/A |
|
143,943 |
|
|
5,012 |
|
|
2,885 |
|
|
0.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
7,924 |
|
|
7,111 |
|
|
0.1 |
% |
Health Care Providers & Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
KWOL Acquisition Inc. (dba Worldwide Clinical Trials)(13)(16)(23) |
|
Class A Interest |
|
|
|
N/A |
|
N/A |
|
159 |
|
|
1,585 |
|
|
1,797 |
|
|
— |
% |
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of December 31, 2024
(Amounts in thousands, except share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company(1)(7)(17)(19) |
|
Investment |
|
Interest |
|
Maturity Date |
|
Par / Units |
|
Amortized Cost(2)(3) |
|
Fair Value |
|
Percentage of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Romulus Intermediate Holdings 1 Inc. (dba PetVet Care Centers)(13)(16)(25) |
|
Series A Preferred Stock |
|
|
|
15.00% PIK |
|
N/A |
|
4,419 |
|
|
5,046 |
|
|
4,749 |
|
|
0.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,631 |
|
|
6,546 |
|
|
0.1 |
% |
Health Care Technology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BEHP Co-Investor II, L.P.(13)(16)(22)(23) |
|
LP Interest |
|
|
|
N/A |
|
N/A |
|
$ |
1,270 |
|
|
1,043 |
|
|
1,297 |
|
|
— |
% |
Minerva Holdco, Inc.(13)(16)(25) |
|
Senior A Preferred Stock |
|
|
|
10.75% PIK |
|
N/A |
|
50,000 |
|
|
67,422 |
|
|
65,937 |
|
|
1.8 |
% |
WP Irving Co-Invest, L.P.(13)(16)(22)(23) |
|
Partnership Units |
|
|
|
N/A |
|
N/A |
|
1,250,000 |
|
|
976 |
|
|
1,276 |
|
|
— |
% |
|
|
|
|
|
|
|
|
|
|
|
|
69,441 |
|
|
68,510 |
|
|
1.8 |
% |
Hotels, Restaurants & Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VEPF Torreys Aggregator, LLC (dba MINDBODY, Inc.)(13)(16)(25) |
|
Series A Preferred Stock |
|
|
|
10.00% PIK |
|
N/A |
|
25,000 |
|
|
29,446 |
|
|
30,919 |
|
|
0.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
29,446 |
|
|
30,919 |
|
|
0.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
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|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Internet & Direct Marketing Retail |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Kajabi Holdings, LLC(16)(23) |
|
Senior Preferred Class D Units |
|
|
|
N/A |
|
N/A |
|
4,126,175 |
|
|
50,025 |
|
|
39,463 |
|
|
1.1 |
% |
Klaviyo, Inc.(2)(16)(23) |
|
Series B Common Stock |
|
|
|
N/A |
|
N/A |
|
1,078,770 |
|
|
36,027 |
|
|
44,488 |
|
|
1.2 |
% |
Linked Store Cayman Ltd. (dba Nuvemshop)(13)(16)(22)(23) |
|
Series E Preferred Stock |
|
|
|
N/A |
|
N/A |
|
19,499 |
|
|
42,496 |
|
|
37,998 |
|
|
1.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
128,548 |
|
|
121,949 |
|
|
3.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
E2Open Parent Holdings, Inc.(2)(22)(23) |
|
Class A Common Stock |
|
|
|
N/A |
|
N/A |
|
1,650,943 |
|
|
17,504 |
|
|
4,392 |
|
|
0.1 |
% |
JumpCloud, Inc.(16)(23) |
|
Series B Preferred Stock |
|
|
|
N/A |
|
N/A |
|
756,590 |
|
|
4,531 |
|
|
639 |
|
|
— |
% |
JumpCloud, Inc.(16)(23) |
|
Series F Preferred Stock |
|
|
|
N/A |
|
N/A |
|
6,679,245 |
|
|
40,017 |
|
|
28,343 |
|
|
0.8 |
% |
Knockout Intermediate Holdings I Inc. (dba Kaseya Inc.)(6)(10)(13)(16) |
|
Perpetual Preferred Stock |
|
S+ |
|
10.75% PIK |
|
N/A |
|
7,500 |
|
|
10,266 |
|
|
10,405 |
|
|
0.3 |
% |
Replicated, Inc.(16)(23) |
|
Series C Preferred Stock |
|
|
|
N/A |
|
N/A |
|
1,277,832 |
|
|
|
|
10,502 |
|
|
0.3 |
% |
WMC Bidco, Inc. (dba West Monroe)(13)(16)(25) |
|
Senior Preferred Stock |
|
|
|
11.25% PIK |
|
N/A |
|
57,231 |
|
|
80,541 |
|
|
79,680 |
|
|
2.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
172,867 |
|
|
133,961 |
|
|
3.7 |
% |
Pharmaceuticals |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
XOMA Corporation(13)(16)(23) |
|
Warrants |
|
|
|
N/A |
|
N/A |
|
12,000 |
|
|
82 |
|
|
139 |
|
|
— |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
82 |
|
|
139 |
|
|
— |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
|
|
|
|
|
|
|
|
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BCTO WIW Holdings, Inc. (dba When I Work)(13)(16)(23) |
|
Class A Common Stock |
|
|
|
13.50% PIK |
|
N/A |
|
70,000 |
|
|
7,000 |
|
|
3,827 |
|
|
0.1 |
% |
CloudPay, Inc.(13)(16)(22)(25) |
|
Series E Preferred Stock |
|
|
|
13.50% PIK |
|
N/A |
|
39,109 |
|
|
8,896 |
|
|
8,896 |
|
|
0.2 |
% |
Sunshine Software Holdings, Inc. (dba Cornerstone OnDemand, Inc.)(13)(16)(25) |
|
Series A Preferred Stock |
|
|
|
10.50% PIK |
|
N/A |
|
28,000 |
|
|
38,428 |
|
|
30,743 |
|
|
0.8 |
% |
Thunder Topco L.P. (dba Vector Solutions)(13)(16)(23) |
|
Common Units |
|
|
|
N/A |
|
N/A |
|
7,857,410 |
|
|
7,857 |
|
|
9,348 |
|
|
0.3 |
% |
TravelPerk, Inc.(13)(16)(23) |
|
Warrants |
|
|
|
N/A |
|
N/A |
|
71,940 |
|
|
1,534 |
|
|
1,534 |
|
|
— |
% |
Vestwell Holdings, Inc.(13)(16)(23) |
|
Series D Preferred Stock |
|
|
|
N/A |
|
N/A |
|
152,175 |
|
|
3,020 |
|
|
3,000 |
|
|
0.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
66,735 |
|
|
57,348 |
|
|
1.5 |
% |
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of December 31, 2024
(Amounts in thousands, except share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company(1)(7)(17)(19) |
|
Investment |
|
Interest |
|
Maturity Date |
|
Par / Units |
|
Amortized Cost(2)(3) |
|
Fair Value |
|
Percentage of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Road & Rail |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bolt Technology OÜ(16)(22)(23) |
|
Preferred Stock |
|
|
|
N/A |
|
N/A |
|
43,478 |
|
|
11,318 |
|
|
9,999 |
|
|
0.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,318 |
|
|
9,999 |
|
|
0.3 |
% |
Systems Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Algolia, Inc.(16)(23) |
|
Series D Preferred Stock |
|
|
|
N/A |
|
N/A |
|
136,776 |
|
|
4,000 |
|
|
3,027 |
|
|
0.1 |
% |
Algolia, Inc.(16)(23) |
|
Series C Preferred Stock |
|
|
|
N/A |
|
N/A |
|
970,281 |
|
|
10,000 |
|
|
17,523 |
|
|
0.5 |
% |
Arctic Wolf Networks, Inc.(16)(23) |
|
Preferred Stock |
|
|
|
N/A |
|
N/A |
|
3,032,840 |
|
|
25,036 |
|
|
26,901 |
|
|
0.7 |
% |
Brooklyn Lender Co-Invest 2, L.P. (dba Boomi)(13)(16)(23) |
|
Common Units |
|
|
|
N/A |
|
N/A |
|
12,692,160 |
|
|
12,692 |
|
|
19,053 |
|
|
0.5 |
% |
Circle Internet Services, Inc.(16)(23) |
|
Warrants |
|
|
|
N/A |
|
N/A |
|
358,412 |
|
|
— |
|
|
786 |
|
|
— |
% |
Circle Internet Services, Inc.(16)(23) |
|
Series D Preferred Stock |
|
|
|
N/A |
|
N/A |
|
2,934,961 |
|
|
15,000 |
|
|
16,478 |
|
|
0.5 |
% |
Circle Internet Services, Inc.(16)(23) |
|
Series E Preferred Stock |
|
|
|
N/A |
|
N/A |
|
821,806 |
|
|
6,917 |
|
|
5,675 |
|
|
0.2 |
% |
Circle Internet Services, Inc.(16)(23) |
|
Series F Preferred Stock |
|
|
|
N/A |
|
N/A |
|
75,876 |
|
|
1,500 |
|
|
879 |
|
|
— |
% |
Circle Internet Services, Inc.(16)(23) |
|
Subordinated Convertible Security |
|
|
|
N/A |
|
N/A |
|
758,882 |
|
|
759 |
|
|
759 |
|
|
— |
% |
Elliott Alto Co-Investor Aggregator L.P.(13)(16)(22)(23) |
|
LP Interest |
|
|
|
N/A |
|
N/A |
|
1,567 |
|
|
1,577 |
|
|
2,441 |
|
|
0.1 |
% |
Excalibur CombineCo, L.P.(13)(16)(23) |
|
Class A Units |
|
|
|
N/A |
|
N/A |
|
3,340,668 |
|
|
99,452 |
|
|
75,296 |
|
|
2.1 |
% |
Halo Parent Newco, LLC(13)(16)(25) |
|
Class H PIK Preferred Equity |
|
|
|
11.00% PIK |
|
N/A |
|
5,000 |
|
|
6,826 |
|
|
5,138 |
|
|
0.1 |
% |
HARNESS INC.(16)(23)(26) |
|
Series D Preferred Stock |
|
|
|
N/A |
|
N/A |
|
1,022,648 |
|
|
9,169 |
|
|
9,198 |
|
|
0.3 |
% |
Illumio, Inc.(16)(23) |
|
Common stock |
|
|
|
N/A |
|
N/A |
|
358,365 |
|
|
2,432 |
|
|
1,487 |
|
|
— |
% |
Illumio, Inc.(16)(23) |
|
Series F Preferred Stock |
|
|
|
N/A |
|
N/A |
|
2,483,618 |
|
|
16,684 |
|
|
15,502 |
|
|
0.4 |
% |
Project Hotel California Co-Invest Fund, L.P.(13)(16)(22)(23) |
|
LP Interest |
|
|
|
N/A |
|
N/A |
|
$ |
2,685 |
|
|
2,687 |
|
|
3,092 |
|
|
0.1 |
% |
Securiti, Inc.(13)(16)(23) |
|
Series C Preferred Shares |
|
|
|
N/A |
|
N/A |
|
2,525,571 |
|
|
20,016 |
|
|
20,000 |
|
|
0.6 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
234,747 |
|
|
223,235 |
|
|
6.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Thrifts & Mortgage Finance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blend Labs, Inc.(13)(16)(23) |
|
Warrants |
|
|
|
N/A |
|
N/A |
|
299,216 |
|
|
1,625 |
|
|
14 |
|
|
— |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,625 |
|
|
14 |
|
|
— |
% |
Total non-controlled/non-affiliated portfolio company equity investments |
|
$ |
907,599
|
|
|
$ |
907,513
|
|
|
24.8
|
% |
Total non-controlled/non-affiliated portfolio company investments |
|
$ |
5,923,755
|
|
|
$ |
5,894,716
|
|
|
162.2
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-controlled/affiliated portfolio company investments(21) |
|
|
|
|
|
|
|
|
|
|
|
|
Debt Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Internet & Direct Marketing Retail |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Walker Edison Furniture Company LLC(6)(9)(13)(20)(24) |
|
First lien senior secured revolving loan |
|
S+ |
|
6.25% |
|
3/2027 |
|
$ |
4,495 |
|
|
4,495 |
|
|
2,888 |
|
|
0.1 |
% |
Walker Edison Furniture Company LLC(6)(9)(13)(14)(20)(24) |
|
First lien senior secured delayed draw term loan |
|
S+ |
|
6.75% PIK |
|
3/2027 |
|
4,527 |
|
|
4,214 |
|
|
556 |
|
|
— |
% |
Walker Edison Furniture Company LLC(6)(9)(13)(20)(24) |
|
First lien senior secured loan |
|
S+ |
|
6.75% PIK |
|
3/2027 |
|
11,090 |
|
|
8,621 |
|
|
1,497 |
|
|
— |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
17,330 |
|
|
4,941 |
|
|
0.1 |
% |
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of December 31, 2024
(Amounts in thousands, except share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company(1)(7)(17)(19) |
|
Investment |
|
Interest |
|
Maturity Date |
|
Par / Units |
|
Amortized Cost(2)(3) |
|
Fair Value |
|
Percentage of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pluralsight, LLC(6)(9)(13)(20) |
|
First lien senior secured loan |
|
S+ |
|
4.50% (1.50% PIK) |
|
8/2029 |
|
30,474 |
|
|
30,474 |
|
|
30,474 |
|
|
0.8 |
% |
Pluralsight, LLC(6)(9)(13)(20) |
|
First lien senior secured loan |
|
S+ |
|
7.50% PIK |
|
8/2029 |
|
31,336 |
|
|
31,336 |
|
|
31,336 |
|
|
0.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
61,810 |
|
|
61,810 |
|
|
1.7 |
% |
Total non-controlled/affiliated portfolio company debt investments |
|
|
|
$ |
79,140
|
|
|
$ |
66,751
|
|
|
1.8
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fifth Season Investments LLC(13)(16)(18)(20) |
|
Class A Units |
|
|
|
N/A |
|
N/A |
|
8 |
|
|
56,660 |
|
|
62,517 |
|
|
1.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
56,660 |
|
|
62,517 |
|
|
1.7 |
% |
Internet & Direct Marketing Retail |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Signifyd Inc.(16)(20)(25) |
|
Preferred equity |
|
|
|
9.00% PIK |
|
N/A |
|
2,755,121 |
|
|
139,190 |
|
|
126,065 |
|
|
3.5 |
% |
Walker Edison Holdco LLC(13)(16)(20)(23) |
|
Common Units |
|
|
|
N/A |
|
N/A |
|
98,319 |
|
|
9,500 |
|
|
— |
|
|
— |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
148,690 |
|
|
126,065 |
|
|
3.5 |
% |
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Paradigmatic Holdco LLC (dba Pluralsight)(13)(16)(20)(23) |
|
Common stock |
|
|
|
N/A |
|
N/A |
|
10,119,090 |
|
|
26,850 |
|
|
26,850 |
|
|
0.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26,850 |
|
|
26,850 |
|
|
0.7 |
% |
Pharmaceuticals |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LSI Financing 1 DAC(13)(14)(16)(20)(22) |
|
Preferred equity |
|
|
|
N/A |
|
N/A |
|
$ |
3,053 |
|
|
3,116 |
|
|
3,093 |
|
|
0.1 |
% |
LSI Financing LLC(13)(14)(16)(20)(22)(23) |
|
Common Equity |
|
|
|
N/A |
|
N/A |
|
$ |
61,865 |
|
|
61,865 |
|
|
61,677 |
|
|
1.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
64,981 |
|
|
64,770 |
|
|
1.8 |
% |
Systems Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Help HP SCF Investor, LP(13)(16)(20)(23) |
|
LP Interest |
|
|
|
N/A |
|
N/A |
|
$ |
59,333 |
|
|
59,385 |
|
|
60,350 |
|
|
1.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
59,385 |
|
|
60,350 |
|
|
1.7 |
% |
Total non-controlled/affiliated portfolio company equity investments |
|
$ |
356,566
|
|
|
$ |
340,552
|
|
|
9.5
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-controlled/affiliated portfolio company investments |
|
$ |
435,706
|
|
|
$ |
407,303
|
|
|
11.3
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Controlled/affiliated portfolio company investments(22) |
|
|
|
|
|
|
|
|
|
|
|
|
Equity Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revolut Ribbit Holdings, LLC(14)(16)(21)(22)(23) |
|
LLC Interest |
|
|
|
N/A |
|
N/A |
|
122,996 |
|
|
75,294 |
|
|
106,443 |
|
|
2.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
75,294 |
|
|
106,443 |
|
|
2.9 |
% |
Joint Ventures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Owl Credit SLF LLC(13)(16)(18)(21)(22)(23) |
|
LLC Interest |
|
|
|
N/A |
|
N/A |
|
$ |
947 |
|
|
949 |
|
|
947 |
|
|
— |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
949 |
|
|
947 |
|
|
— |
% |
Total controlled/affiliated portfolio company equity investments |
|
$ |
76,243
|
|
|
$ |
107,390
|
|
|
2.9
|
% |
Total controlled/affiliated portfolio company investments |
|
$ |
76,243
|
|
|
$ |
107,390
|
|
|
2.9
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-controlled/non-affiliated misc. debt commitments(16)(27)(Note 7) |
|
|
|
$ |
(2,583) |
|
|
$ |
(1,943) |
|
|
(0.1) |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments |
|
|
|
|
|
|
|
|
|
|
|
$ |
6,433,121
|
|
|
$ |
6,407,466
|
|
|
176.3
|
% |
(1)Unless otherwise indicated, all investments are considered Level 3 investments.
(2)Level 1 investment.
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of December 31, 2024
(Amounts in thousands, except share amounts)
(3)Level 2 investment.
(4)The amortized cost represents the original cost adjusted for the amortization or accretion of premium or discount, as applicable, on debt investments using the effective interest method.
(5)As of December 31, 2024, the net estimated unrealized loss on investments for U.S. federal income tax purposes was $15.8 million based on a tax cost basis of $6.42 billion. As of December 31, 2024, the estimated aggregate gross unrealized loss for U.S. federal income tax purposes was $203.8 million and the estimated aggregate gross unrealized gain for U.S. federal income tax purposes was $188.0 million.
(6)Unless otherwise indicated, loan contains a variable rate structure and may be subject to an interest rate floor. Variable rate loans bear interest at a rate that may be determined by reference to either the Secured Overnight Financing Rate (“SOFR” or “S”, which can include one-, three- or six-month SOFR), Euro Interbank Offered Rate (“EURIBOR” or “E”, which can include three- or six-month EURIBOR), or Sterling Overnight Interbank Average Rate (“SONIA” or “SA”), at the borrower’s option, and which reset periodically based on the terms of the loan agreement.
(7)Certain portfolio company investments are subject to contractual restrictions on sales. Refer to footnote 16 for additional information on our restricted securities.
(8)The interest rate on these loans is subject to 1 month SOFR, which as of December 31, 2024 was 4.33%.
(9)The interest rate on these loans is subject to 3 month SOFR, which as of December 31, 2024 was 4.31%.
(10)The interest rate on these loans is subject to 6 month SOFR, which as of December 31, 2024 was 4.25%.
(11)The interest rate on these loans is subject to SONIA, which as of December 31, 2024 was 4.70%.
(12)The interest rate on these loans is subject to 3 month EURIBOR, which as of December 31, 2024 was 2.71%.
(13)Represents co-investment made with the Company’s affiliates in accordance with the terms of an order for exemptive relief that an affiliate of the Company’s investment adviser received from the U.S. Securities and Exchange Commission. See Note 3 “Agreements and Related Party Transactions”.
(14)Position or portion thereof is a partially unfunded debt or equity commitment. See below for more information on the Company’s commitments. See Note 7 “Commitments and Contingencies”.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Portfolio Company |
|
Commitment Type |
|
Commitment Expiration Date |
|
Funded Commitment |
|
Unfunded |
|
|
|
|
Commitment |
|
Fair Value(27)
|
Non-controlled/non-affiliated - delayed draw debt commitments |
|
|
|
|
|
|
|
|
Aerosmith Bidco 1 Limited (dba Audiotonix) |
|
First lien senior secured delayed draw term loan |
|
7/2027 |
|
$ |
— |
|
|
$ |
38,460 |
|
|
$ |
(30) |
|
|
|
|
|
|
|
|
|
|
|
|
AI Titan Parent, Inc. (dba Prometheus Group) |
|
First lien senior secured delayed draw term loan |
|
9/2026 |
|
— |
|
|
4,528 |
|
|
(23) |
|
AlphaSense, Inc. |
|
First lien senior secured delayed draw term loan |
|
6/2029 |
|
— |
|
|
5,549 |
|
|
(55) |
|
AlphaSense, Inc. |
|
First lien senior secured delayed draw term loan |
|
12/2025 |
|
— |
|
|
5,477 |
|
|
(55) |
|
Aptean Acquiror, Inc. (dba Aptean) |
|
First lien senior secured delayed draw term loan |
|
1/2026 |
|
53 |
|
|
149 |
|
|
— |
|
Artifact Bidco, Inc. (dba Avetta) |
|
First lien senior secured delayed draw term loan |
|
7/2027 |
|
— |
|
|
3,912 |
|
|
— |
|
Associations, Inc. |
|
First lien senior secured delayed draw term loan |
|
7/2028 |
|
642 |
|
|
3,205 |
|
|
— |
|
Bamboo US BidCo LLC |
|
First lien senior secured delayed draw term loan |
|
11/2026 |
|
— |
|
|
1,372 |
|
|
— |
|
Bamboo US BidCo LLC |
|
First lien senior secured delayed draw term loan |
|
3/2025 |
|
454 |
|
|
315 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
BCPE Osprey Buyer, Inc. (dba PartsSource) |
|
First lien senior secured delayed draw term loan |
|
10/2025 |
|
4,530 |
|
|
21,744 |
|
|
— |
|
Computer Services, Inc. (dba CSI) |
|
First lien senior secured delayed draw term loan |
|
2/2026 |
|
— |
|
|
9,196 |
|
|
— |
|
Coupa Holdings, LLC |
|
First lien senior secured delayed draw term loan |
|
8/2025 |
|
— |
|
|
70 |
|
|
— |
|
CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant) |
|
First lien senior secured delayed draw term loan |
|
8/2026 |
|
— |
|
|
1,992 |
|
|
(5) |
|
Databricks, Inc. |
|
First lien senior secured delayed draw term loan |
|
7/2026 |
|
— |
|
|
11,939 |
|
|
— |
|
EET Buyer, Inc. (dba e-Emphasys) |
|
First lien senior secured delayed draw term loan |
|
4/2026 |
|
— |
|
|
4,773 |
|
|
— |
|
Fullsteam Operations, LLC |
|
First lien senior secured delayed draw term loan |
|
8/2025 |
|
550 |
|
|
5,376 |
|
|
— |
|
Fullsteam Operations, LLC |
|
First lien senior secured delayed draw term loan |
|
2/2026 |
|
419 |
|
|
1,062 |
|
|
— |
|
GS Acquisitionco, Inc. (dba insightsoftware) |
|
First lien senior secured delayed draw term loan |
|
3/2026 |
|
426 |
|
|
1,494 |
|
|
— |
|
Indikami Bidco, LLC (dba IntegriChain) |
|
First lien senior secured delayed draw term loan |
|
12/2025 |
|
479 |
|
|
7,903 |
|
|
— |
|
Integrity Marketing Acquisition, LLC |
|
First lien senior secured delayed draw term loan |
|
8/2026 |
|
— |
|
|
7,236 |
|
|
— |
|
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of December 31, 2024
(Amounts in thousands, except share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Portfolio Company |
|
Commitment Type |
|
Commitment Expiration Date |
|
Funded Commitment |
|
Unfunded |
|
|
|
|
Commitment |
|
Fair Value(27)
|
Interoperability Bidco, Inc. (dba Lyniate) |
|
First lien senior secured delayed draw term loan |
|
6/2026 |
|
— |
|
|
5,714 |
|
|
(143) |
|
Kaseya Inc. |
|
First lien senior secured delayed draw term loan |
|
6/2025 |
|
184 |
|
|
703 |
|
|
— |
|
Litera Bidco LLC |
|
First lien senior secured delayed draw term loan |
|
11/2026 |
|
15,152 |
|
|
17,117 |
|
|
— |
|
Litera Bidco LLC |
|
First lien senior secured delayed draw term loan |
|
5/2027 |
|
— |
|
|
13,448 |
|
|
(34) |
|
ManTech International Corporation |
|
First lien senior secured delayed draw term loan |
|
6/2025 |
|
— |
|
|
1,030 |
|
|
— |
|
Minotaur Acquisition, Inc. (dba Inspira Financial) |
|
First lien senior secured delayed draw term loan |
|
5/2026 |
|
— |
|
|
8,834 |
|
|
— |
|
Monotype Imaging Holdings Inc. |
|
First lien senior secured delayed draw term loan |
|
2/2026 |
|
1,145 |
|
|
3,768 |
|
|
— |
|
PDI TA Holdings, Inc. |
|
First lien senior secured delayed draw term loan |
|
2/2026 |
|
1,166 |
|
|
922 |
|
|
— |
|
PetVet Care Centers, LLC |
|
First lien senior secured delayed draw term loan |
|
11/2025 |
|
— |
|
|
5,120 |
|
|
(166) |
|
Pluralsight, LLC |
|
First lien senior secured delayed draw term loan |
|
8/2029 |
|
— |
|
|
12,649 |
|
|
— |
|
Pye-Barker Fire & Safety, LLC |
|
First lien senior secured delayed draw term loan |
|
5/2026 |
|
4,602 |
|
|
8,313 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
RL Datix Holdings (USA), Inc. |
|
First lien senior secured delayed draw term loan |
|
4/2027 |
|
— |
|
|
10,985 |
|
|
— |
|
Rubrik, Inc. |
|
First lien senior secured delayed draw term loan |
|
6/2028 |
|
1,376 |
|
|
76 |
|
|
— |
|
Salinger Bidco Inc. (dba Surgical Information Systems) |
|
First lien senior secured delayed draw term loan |
|
8/2026 |
|
— |
|
|
1,406 |
|
|
— |
|
Severin Acquisition, LLC (dba PowerSchool) |
|
First lien senior secured delayed draw term loan |
|
10/2027 |
|
— |
|
|
6,693 |
|
|
(33) |
|
Simpler Postage, Inc. (dba Easypost) |
|
First lien senior secured delayed draw term loan |
|
6/2026 |
|
412 |
|
|
17,285 |
|
|
(25) |
|
|
|
|
|
|
|
|
|
|
|
|
Simplicity Financial Marketing Group Holdings, Inc. |
|
First lien senior secured delayed draw term loan |
|
12/2026 |
|
— |
|
|
952 |
|
|
(5) |
|
Smarsh Inc. |
|
First lien senior secured delayed draw term loan |
|
2/2025 |
|
5,524 |
|
|
5,524 |
|
|
— |
|
Spaceship Purchaser, Inc. (dba Squarespace) |
|
First lien senior secured delayed draw term loan |
|
10/2026 |
|
— |
|
|
4,991 |
|
|
— |
|
Spaceship Purchaser, Inc. (dba Squarespace) |
|
First lien senior secured delayed draw term loan |
|
10/2027 |
|
— |
|
|
11,978 |
|
|
(30) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Zendesk, Inc. |
|
First lien senior secured delayed draw term loan |
|
11/2025 |
|
— |
|
|
12,922 |
|
|
— |
|
Non-controlled/non-affiliated - revolving debt commitments |
|
|
|
|
|
|
|
|
Acquia Inc. |
|
First lien senior secured revolving loan |
|
10/2025 |
|
6,602 |
|
|
5,187 |
|
|
— |
|
Activate Holdings (US) Corp. (dba Absolute Software) |
|
First lien senior secured revolving loan |
|
7/2029 |
|
— |
|
|
352 |
|
|
— |
|
Aerosmith Bidco 1 Limited (dba Audiotonix) |
|
First lien senior secured revolving loan |
|
7/2030 |
|
— |
|
|
16,028 |
|
|
(40) |
|
AI Titan Parent, Inc. (dba Prometheus Group) |
|
First lien senior secured revolving loan |
|
8/2031 |
|
— |
|
|
2,830 |
|
|
(28) |
|
Anaplan, Inc. |
|
First lien senior secured revolving loan |
|
6/2028 |
|
— |
|
|
3,542 |
|
|
— |
|
Aptean Acquiror, Inc. (dba Aptean) |
|
First lien senior secured revolving loan |
|
1/2031 |
|
— |
|
|
273 |
|
|
(1) |
|
Artifact Bidco, Inc. (dba Avetta) |
|
First lien senior secured revolving loan |
|
7/2030 |
|
— |
|
|
2,794 |
|
|
(14) |
|
|
|
|
|
|
|
|
|
|
|
|
Associations, Inc. |
|
First lien senior secured revolving loan |
|
7/2028 |
|
1,541 |
|
|
1,541 |
|
|
— |
|
Avalara, Inc. |
|
First lien senior secured revolving loan |
|
10/2028 |
|
— |
|
|
909 |
|
|
— |
|
Azurite Intermediate Holdings, Inc. (dba Alteryx, Inc.) |
|
First lien senior secured revolving loan |
|
3/2031 |
|
— |
|
|
4,750 |
|
|
(36) |
|
Bamboo US BidCo LLC |
|
First lien senior secured revolving loan |
|
10/2029 |
|
— |
|
|
1,026 |
|
|
— |
|
Bayshore Intermediate #2, L.P. (dba Boomi) |
|
First lien senior secured revolving loan |
|
10/2027 |
|
— |
|
|
9,028 |
|
|
— |
|
BCPE Osprey Buyer, Inc. (dba PartsSource) |
|
First lien senior secured revolving loan |
|
8/2026 |
|
8,155 |
|
|
4,077 |
|
|
— |
|
BCTO BSI Buyer, Inc. (dba Buildertrend) |
|
First lien senior secured revolving loan |
|
12/2026 |
|
— |
|
|
11,250 |
|
|
— |
|
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of December 31, 2024
(Amounts in thousands, except share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Portfolio Company |
|
Commitment Type |
|
Commitment Expiration Date |
|
Funded Commitment |
|
Unfunded |
|
|
|
|
Commitment |
|
Fair Value(27)
|
BTRS HOLDINGS INC. (dba Billtrust) |
|
First lien senior secured revolving loan |
|
12/2028 |
|
34 |
|
|
56 |
|
|
— |
|
Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.) |
|
First lien senior secured revolving loan |
|
8/2027 |
|
2,338 |
|
|
4,450 |
|
|
— |
|
Certinia Inc. |
|
First lien senior secured revolving loan |
|
8/2029 |
|
— |
|
|
2,941 |
|
|
— |
|
CivicPlus, LLC |
|
First lien senior secured revolving loan |
|
8/2027 |
|
— |
|
|
4,664 |
|
|
— |
|
Coupa Holdings, LLC |
|
First lien senior secured revolving loan |
|
2/2029 |
|
— |
|
|
54 |
|
|
— |
|
Creek Parent, Inc. (dba Catalent) |
|
First lien senior secured revolving loan |
|
12/2031 |
|
— |
|
|
12,116 |
|
|
(212) |
|
Crewline Buyer, Inc. (dba New Relic) |
|
First lien senior secured revolving loan |
|
11/2030 |
|
— |
|
|
9,434 |
|
|
(118) |
|
CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant) |
|
First lien senior secured revolving loan |
|
8/2031 |
|
— |
|
|
4,981 |
|
|
(12) |
|
Delinea Buyer, Inc. (f/k/a Centrify) |
|
First lien senior secured revolving loan |
|
3/2027 |
|
— |
|
|
8,163 |
|
|
— |
|
Disco Parent, Inc. (dba Duck Creek Technologies, Inc.) |
|
First lien senior secured revolving loan |
|
3/2029 |
|
— |
|
|
91 |
|
|
(1) |
|
EET Buyer, Inc. (dba e-Emphasys) |
|
First lien senior secured revolving loan |
|
11/2027 |
|
— |
|
|
5,348 |
|
|
— |
|
Entrata, Inc. |
|
First lien senior secured revolving loan |
|
7/2028 |
|
— |
|
|
103 |
|
|
— |
|
Finastra USA, Inc. |
|
First lien senior secured revolving loan |
|
9/2029 |
|
4,651 |
|
|
2,827 |
|
|
— |
|
Forescout Technologies, Inc. |
|
First lien senior secured revolving loan |
|
5/2030 |
|
— |
|
|
9,517 |
|
|
(44) |
|
Fullsteam Operations, LLC |
|
First lien senior secured revolving loan |
|
11/2029 |
|
— |
|
|
593 |
|
|
— |
|
Gainsight, Inc. |
|
First lien senior secured revolving loan |
|
7/2027 |
|
2,933 |
|
|
2,700 |
|
|
— |
|
Gerson Lehrman Group, Inc. |
|
First lien senior secured revolving loan |
|
12/2027 |
|
— |
|
|
956 |
|
|
(2) |
|
GI Ranger Intermediate, LLC (dba Rectangle Health) |
|
First lien senior secured revolving loan |
|
10/2027 |
|
258 |
|
|
1,953 |
|
|
— |
|
Granicus, Inc. |
|
First lien senior secured revolving loan |
|
1/2031 |
|
— |
|
|
274 |
|
|
— |
|
GS Acquisitionco, Inc. (dba insightsoftware) |
|
First lien senior secured revolving loan |
|
5/2028 |
|
— |
|
|
4,799 |
|
|
(36) |
|
H&F Opportunities LUX III S.À R.L (dba Checkmarx) |
|
First lien senior secured revolving loan |
|
4/2026 |
|
— |
|
|
25,000 |
|
|
(63) |
|
Hyland Software, Inc. |
|
First lien senior secured revolving loan |
|
9/2029 |
|
— |
|
|
4,070 |
|
|
— |
|
Icefall Parent, Inc. (dba EngageSmart) |
|
First lien senior secured revolving loan |
|
1/2030 |
|
— |
|
|
1,217 |
|
|
— |
|
Indikami Bidco, LLC (dba IntegriChain) |
|
First lien senior secured revolving loan |
|
6/2030 |
|
2,155 |
|
|
3,832 |
|
|
— |
|
Integrity Marketing Acquisition, LLC |
|
First lien senior secured revolving loan |
|
8/2028 |
|
— |
|
|
2,422 |
|
|
— |
|
Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.)* |
|
First lien senior secured revolving loan |
|
8/2026 |
|
10,847 |
|
|
— |
|
|
— |
|
Interoperability Bidco, Inc. (dba Lyniate) |
|
First lien senior secured revolving loan |
|
3/2028 |
|
352 |
|
|
6,418 |
|
|
— |
|
IRI Group Holdings, Inc. (f/k/a Circana Group, L.P. (f/k/a The NPD Group, L.P.)) |
|
First lien senior secured revolving loan |
|
12/2027 |
|
302 |
|
|
1,208 |
|
|
— |
|
JS Parent, Inc. (dba Jama Software) |
|
First lien senior secured revolving loan |
|
4/2031 |
|
— |
|
|
1,324 |
|
|
— |
|
Kaseya Inc. |
|
First lien senior secured revolving loan |
|
6/2029 |
|
239 |
|
|
709 |
|
|
— |
|
KWOL Acquisition Inc. (dba Worldwide Clinical Trials) |
|
First lien senior secured revolving loan |
|
12/2029 |
|
— |
|
|
3,101 |
|
|
— |
|
Litera Bidco LLC |
|
First lien senior secured revolving loan |
|
5/2028 |
|
— |
|
|
7,654 |
|
|
(19) |
|
LogRhythm, Inc. |
|
First lien senior secured revolving loan |
|
7/2029 |
|
— |
|
|
475 |
|
|
(13) |
|
Magnet Forensics, LLC (f/k/a Grayshift, LLC) |
|
First lien senior secured revolving loan |
|
7/2028 |
|
— |
|
|
968 |
|
|
— |
|
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of December 31, 2024
(Amounts in thousands, except share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Portfolio Company |
|
Commitment Type |
|
Commitment Expiration Date |
|
Funded Commitment |
|
Unfunded |
|
|
|
|
Commitment |
|
Fair Value(27)
|
ManTech International Corporation |
|
First lien senior secured revolving loan |
|
9/2028 |
|
— |
|
|
860 |
|
|
— |
|
MINDBODY, Inc. |
|
First lien senior secured revolving loan |
|
9/2025 |
|
— |
|
|
7,143 |
|
|
— |
|
Ministry Brands Holdings, LLC |
|
First lien senior secured revolving loan |
|
12/2027 |
|
— |
|
|
737 |
|
|
(6) |
|
Minotaur Acquisition, Inc. (dba Inspira Financial) |
|
First lien senior secured revolving loan |
|
6/2030 |
|
— |
|
|
5,435 |
|
|
(27) |
|
Monotype Imaging Holdings Inc. |
|
First lien senior secured revolving loan |
|
2/2030 |
|
— |
|
|
7,369 |
|
|
(18) |
|
Neptune Holdings, Inc. (dba NexTech) |
|
First lien senior secured revolving loan |
|
8/2029 |
|
— |
|
|
588 |
|
|
— |
|
NMI Acquisitionco, Inc. (dba Network Merchants) |
|
First lien senior secured revolving loan |
|
9/2028 |
|
— |
|
|
1,115 |
|
|
— |
|
Oranje Holdco, Inc. (dba KnowBe4) |
|
First lien senior secured revolving loan |
|
2/2029 |
|
— |
|
|
1,602 |
|
|
— |
|
PDI TA Holdings, Inc. |
|
First lien senior secured revolving loan |
|
2/2031 |
|
— |
|
|
918 |
|
|
(9) |
|
PetVet Care Centers, LLC |
|
First lien senior secured revolving loan |
|
11/2029 |
|
— |
|
|
5,373 |
|
|
(228) |
|
Ping Identity Holding Corp. |
|
First lien senior secured revolving loan |
|
10/2028 |
|
— |
|
|
643 |
|
|
— |
|
Pluralsight, LLC |
|
First lien senior secured revolving loan |
|
8/2029 |
|
— |
|
|
5,060 |
|
|
— |
|
Pye-Barker Fire & Safety, LLC |
|
First lien senior secured revolving loan |
|
5/2030 |
|
341 |
|
|
2,386 |
|
|
— |
|
QAD, Inc. |
|
First lien senior secured revolving loan |
|
11/2027 |
|
— |
|
|
11,429 |
|
|
(29) |
|
Relativity ODA LLC |
|
First lien senior secured revolving loan |
|
5/2029 |
|
— |
|
|
7,871 |
|
|
(20) |
|
RL Datix Holdings (USA), Inc. |
|
First lien senior secured revolving loan |
|
10/2030 |
|
1,266 |
|
|
8,352 |
|
|
— |
|
SailPoint Technologies Holdings, Inc. |
|
First lien senior secured revolving loan |
|
8/2028 |
|
— |
|
|
4,358 |
|
|
— |
|
Salinger Bidco Inc. (dba Surgical Information Systems) |
|
First lien senior secured revolving loan |
|
5/2031 |
|
— |
|
|
1,406 |
|
|
(4) |
|
Securonix, Inc. |
|
First lien senior secured revolving loan |
|
4/2028 |
|
80 |
|
|
3,479 |
|
|
— |
|
Severin Acquisition, LLC (dba PowerSchool) |
|
First lien senior secured revolving loan |
|
10/2031 |
|
— |
|
|
4,016 |
|
|
(40) |
|
Simplicity Financial Marketing Group Holdings, Inc. |
|
First lien senior secured revolving loan |
|
12/2031 |
|
— |
|
|
476 |
|
|
(5) |
|
Smarsh Inc. |
|
First lien senior secured revolving loan |
|
2/2029 |
|
177 |
|
|
265 |
|
|
— |
|
Spaceship Purchaser, Inc. (dba Squarespace) |
|
First lien senior secured revolving loan |
|
10/2031 |
|
— |
|
|
9,982 |
|
|
(50) |
|
Talon MidCo 2 Limited |
|
First lien senior secured revolving loan |
|
8/2028 |
|
— |
|
|
119 |
|
|
— |
|
Tamarack Intermediate, L.L.C. (dba Verisk 3E) |
|
First lien senior secured revolving loan |
|
3/2028 |
|
— |
|
|
1,682 |
|
|
(8) |
|
Thunder Purchaser, Inc. (dba Vector Solutions) |
|
First lien senior secured revolving loan |
|
6/2027 |
|
— |
|
|
11,250 |
|
|
(60) |
|
Velocity HoldCo III Inc. (dba VelocityEHS) |
|
First lien senior secured revolving loan |
|
4/2026 |
|
— |
|
|
2,500 |
|
|
— |
|
When I Work, Inc. |
|
First lien senior secured revolving loan |
|
11/2027 |
|
— |
|
|
5,605 |
|
|
(196) |
|
Zendesk, Inc. |
|
First lien senior secured revolving loan |
|
11/2028 |
|
— |
|
|
5,321 |
|
|
— |
|
Non-controlled/affiliated - delayed draw debt commitments |
|
|
|
|
|
|
|
|
Walker Edison Furniture Company LLC |
|
First lien senior secured delayed draw term loan |
|
3/2027 |
|
3,256 |
|
|
730 |
|
|
— |
|
Non-controlled/affiliated revolving debt commitments |
|
|
|
|
|
|
|
|
Walker Edison Furniture Company LLC* |
|
First lien senior secured revolving loan |
|
3/2027 |
|
4,495 |
|
|
— |
|
|
— |
|
Non-controlled/non-affiliated equity |
|
|
|
|
|
|
|
|
|
|
AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC |
|
LLC Interest |
|
N/A |
|
1,487 |
|
|
3,280 |
|
|
— |
|
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of December 31, 2024
(Amounts in thousands, except share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Portfolio Company |
|
Commitment Type |
|
Commitment Expiration Date |
|
Funded Commitment |
|
Unfunded |
|
|
|
|
Commitment |
|
Fair Value(27)
|
AAM Series 2.1 Aviation Feeder, LLC |
|
LLC Interest |
|
N/A |
|
1,422 |
|
|
1,525 |
|
|
— |
|
Non-controlled/affiliated - equity commitments |
|
|
|
|
|
|
|
|
LSI Financing LLC |
|
Common Equity |
|
N/A |
|
61,865 |
|
|
1,275 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
Total Portfolio Company Commitments |
|
|
|
$ |
151,910 |
|
|
$ |
608,337 |
|
|
$ |
(1,943) |
|
*Fully funded
(15)The date disclosed represents the commitment period of the unfunded term loan. Upon expiration of the commitment period, the funded portion of the term loan may be subject to a longer maturity date.
(16)Security acquired in transaction exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), and may be deemed to be “restricted securities” under the Securities Act. As of December 31, 2024, the aggregate fair value of these securities is $1.35 billion or 37.3% of the Company’s net assets. The acquisition dates of the restricted securities are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Portfolio Company |
|
Investment |
|
Acquisition Date |
6Sense Insights, Inc. |
|
Series E-1 Preferred Stock |
|
January 20, 2022 |
AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC |
|
LLC Interest |
|
July 1, 2022 |
AAM Series 2.1 Aviation Feeder, LLC |
|
LLC interest |
|
July 1, 2022 |
Algolia, Inc. |
|
Series C Preferred Stock |
|
August 30, 2019 |
Algolia, Inc. |
|
Series D Preferred Stock |
|
July 19, 2021 |
Project Alpine Co-Invest Fund, LP |
|
LP Interest |
|
June 13, 2022 |
AlphaSense, LLC |
|
Series E Preferred Shares |
|
June 27, 2024 |
Alpha Partners Technology Merger Corp |
|
Warrants |
|
July 28, 2021 |
Amergin Asset Management, LLC |
|
Class A Units |
|
July 1, 2022 |
Arctic Wolf Networks, Inc. |
|
Preferred Stock |
|
July 7, 2021 |
BCTO WIW Holdings, Inc. (dba When I Work) |
|
Class A Common Stock |
|
November 2, 2021 |
BEHP Co-Investor II, L.P. |
|
LP Interest |
|
May 11, 2022 |
Blend Labs, Inc. |
|
Warrants |
|
July 2, 2021 |
Blue Owl Credit SLF LLC |
|
LLC Interest |
|
August 1, 2024 |
Bolt Technology OÜ |
|
Preferred Stock |
|
December 10, 2021 |
Brooklyn Lender Co-Invest 2, L.P. (dba Boomi) |
|
Common Units |
|
October 1, 2021 |
Brex, Inc. |
|
Preferred Stock |
|
November 30, 2021 |
Circle Internet Services, Inc. |
|
Series D Preferred Stock |
|
May 20, 2019 |
Circle Internet Services, Inc. |
|
Series E Preferred Stock |
|
February 28, 2020 |
Circle Internet Services, Inc. |
|
Series F Preferred Stock |
|
May 4, 2021 |
Circle Internet Services, Inc. |
|
Subordinated Convertible Security |
|
April 12, 2024 |
Circle Internet Services, Inc. |
|
Warrants |
|
May 20, 2019 |
CloudPay, Inc. |
|
Series E Preferred Stock |
|
July 31, 2024 |
Diligent Preferred Issuer, Inc. (dba Diligent Corporation) |
|
Preferred Stock |
|
April 6, 2021 |
Dodge Construction Network Holdings, L.P. |
|
Class A-2 Common Units |
|
February 23, 2022 |
Dodge Construction Network Holdings, L.P. |
|
Series A Preferred Units |
|
February 23, 2022 |
Elliott Alto Co-Investor Aggregator L.P. |
|
LP Interest |
|
September 27, 2022 |
EShares, Inc. (dba Carta) |
|
Series E Preferred Stock |
|
August 1, 2019 |
Excalibur CombineCo, L.P. |
|
Class A Units |
|
July 2, 2024 |
Fifth Season Investments LLC |
|
Class A Units |
|
July 18, 2022 |
Halo Parent Newco, LLC |
|
Class H PIK Preferred Equity |
|
October 15, 2021 |
Harness, Inc. |
|
Junior Preferred Stock |
|
May 24, 2024 |
Help HP SCF Investor, LP |
|
LP Interest |
|
April 28, 2021 |
Project Hotel California Co-Invest Fund, L.P. |
|
LP Interest |
|
August 9, 2022 |
Illumio, Inc. |
|
Common stock |
|
June 23, 2021 |
Illumio, Inc. |
|
Series F Preferred Stock |
|
August 27, 2021 |
Insight CP (Blocker) Holdings, L.P. (dba CivicPlus, LLC) |
|
LP Interest |
|
June 8, 2022 |
JumpCloud, Inc. |
|
Series B Preferred Stock |
|
December 30, 2021 |
JumpCloud, Inc. |
|
Series F Preferred Stock |
|
September 3, 2021 |
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of December 31, 2024
(Amounts in thousands, except share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Kajabi Holdings, LLC |
|
Senior Preferred Class D Units |
|
March 24, 2021 |
Klaviyo, Inc. |
|
Series B Common Stock |
|
May 4, 2021 |
KWOL Acquisition Inc. (dba Worldwide Clinical Trials) |
|
Class A Interest |
|
December 12, 2023 |
Knockout Intermediate Holdings I Inc. (dba Kaseya Inc.) |
|
Perpetual Preferred Stock |
|
June 22, 2022 |
Linked Store Cayman Ltd. (dba Nuvemshop) |
|
Series E Preferred Stock |
|
August 9, 2021 |
LSI Financing 1 DAC |
|
Series 1 Notes |
|
December 14, 2022 |
LSI Financing LLC |
|
Common Equity |
|
November 25, 2024 |
MessageBird Holding B.V. |
|
Extended Series C Warrants |
|
May 5, 2021 |
Minerva Holdco, Inc. |
|
Senior A Preferred Stock |
|
February 15, 2022 |
Nylas, Inc. |
|
Series C Preferred Stock |
|
June 3, 2021 |
Paradigmatic Holdco LLC (dba Pluralsight) |
|
Common stock |
|
August 22, 2024 |
Replicated, Inc. |
|
Series C Preferred Stock |
|
June 30, 2021 |
Revolut Ribbit Holdings, LLC |
|
Ordinary Shares |
|
September 30, 2021 |
Romulus Intermediate Holdings 1 Inc. (dba PetVet Care Centers) |
|
Series A Preferred Stock |
|
November 15, 2023 |
Saturn Ultimate, Inc. |
|
Common stock |
|
December 29, 2021 |
Securiti, Inc. |
|
Series C Preferred Shares |
|
July 28, 2022 |
Signifyd Inc. |
|
Preferred equity |
|
April 8, 2021 |
Simpler Postage, Inc. (dba Easypost) |
|
Warrants |
|
June 11, 2024 |
SLA Eclipse Co-Invest, L.P. |
|
LP Interest |
|
September 30, 2019 |
Space Exploration Technologies Corp. |
|
Class A Common Stock |
|
March 25, 2021 |
Space Exploration Technologies Corp. |
|
Class C Common Stock |
|
March 25, 2021 |
Sunshine Software Holdings, Inc. (dba Cornerstone OnDemand, Inc.) |
|
Series A Preferred Stock |
|
October 15, 2021 |
Thunder Topco L.P. (dba Vector Solutions) |
|
Common Units |
|
June 30, 2021 |
TravelPerk, Inc. |
|
Warrants |
|
May 1, 2024 |
VEPF Torreys Aggregator, LLC (dba MINDBODY, Inc.) |
|
Series A Preferred Stock |
|
October 15, 2021 |
Vestwell Holdings, Inc. |
|
Series D Preferred Stock |
|
December 20, 2023 |
Walker Edison Holdco LLC |
|
Common Units |
|
March 1, 2023 |
WMC Bidco, Inc. (dba West Monroe) |
|
Senior Preferred Stock |
|
November 9, 2021 |
WP Irving Co-Invest, L.P. |
|
Partnership Units |
|
May 18, 2022 |
XOMA Corporation |
|
Warrants |
|
December 15, 2023 |
Zoro TopCo, Inc. |
|
Series A Preferred Equity |
|
November 22, 2022 |
Zoro TopCo, L.P. |
|
Class A Common Units |
|
November 22, 2022 |
(17)Unless otherwise indicated, the Company’s portfolio companies are pledged as collateral supporting the amounts outstanding under the Revolving Credit Facility, SPV Asset Facility I, SPV Asset Facility II and CLO 2020-1. See Note 5 “Debt”.
(18)This portfolio company is not pledged as collateral supporting the amounts outstanding under the Revolving Credit Facility, SPV Asset Facility I, SPV Asset Facility II and CLO 2020-1. See Note 5 “Debt”.
(19)Unless otherwise indicated, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Company owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.
(20)Under the Investment Company Act of 1940, as amended (the “1940 Act”), the Company is deemed to be an “Affiliated Person” of, as defined in the 1940 Act, this portfolio company, as the Company owns more than 5% but less than 25% of the portfolio company’s
Blue Owl Technology Finance Corp.
Consolidated Schedule of Investments
As of December 31, 2024
(Amounts in thousands, except share amounts)
outstanding voting securities. Transactions during the period ended December 31, 2024 in which the Company was an Affiliated Person of the portfolio company are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company |
|
Fair Value at December 31, 2023 |
|
Gross Additions (a) |
|
Gross Reductions(b) |
|
Net Change in Unrealized Gain/(Loss) |
|
Realized Gain/(Loss) |
|
Transfers |
|
Fair Value at December 31, 2024 |
|
Interest and PIK Interest Income |
|
Dividend and PIK Dividend Income |
|
Other Income |
Fifth Season Investments LLC |
|
$ |
43,904 |
|
|
$ |
32,382 |
|
|
$ |
(19,626) |
|
|
$ |
5,857 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
62,517 |
|
|
$ |
— |
|
|
$ |
6,673 |
|
|
$ |
— |
|
Help HP SCF Investor, LP |
|
67,221 |
|
|
6 |
|
|
— |
|
|
(6,877) |
|
|
— |
|
|
— |
|
|
60,350 |
|
|
— |
|
|
— |
|
|
— |
|
LSI Financing LLC |
|
— |
|
|
83,915 |
|
|
(22,050) |
|
|
(188) |
|
|
— |
|
|
— |
|
|
61,677 |
|
|
— |
|
|
324 |
|
|
— |
|
LSI Financing 1 DAC |
|
12,992 |
|
|
4,953 |
|
|
(15,403) |
|
|
(618) |
|
|
1,169 |
|
|
— |
|
|
3,093 |
|
|
— |
|
|
64 |
|
|
— |
|
Pluralsight, LLC |
|
— |
|
|
88,660 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
88,660 |
|
|
2,449 |
|
|
— |
|
|
32 |
|
Signifyd Inc. |
|
110,500 |
|
|
11,707 |
|
|
(40) |
|
|
3,898 |
|
|
— |
|
|
— |
|
|
126,065 |
|
|
— |
|
|
11,702 |
|
|
— |
|
Split Software, Inc. |
|
22,484 |
|
|
— |
|
|
(13,139) |
|
|
7,520 |
|
|
(16,865) |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Walker Edison Furniture Company LLC |
|
14,992 |
|
|
3,446 |
|
|
— |
|
|
(13,497) |
|
|
— |
|
|
— |
|
|
4,941 |
|
|
— |
|
|
— |
|
|
10 |
|
Total |
|
$ |
272,093 |
|
|
$ |
225,069 |
|
|
$ |
(70,258) |
|
|
$ |
(3,905) |
|
|
$ |
(15,696) |
|
|
$ |
— |
|
|
$ |
407,303 |
|
|
$ |
2,449 |
|
|
$ |
18,763 |
|
|
$ |
42 |
|
_______________
(a)Gross additions include increases in the cost basis of investments resulting from new investments, payment-in-kind interest or dividends, and the amortization of any unearned income or discounts on equity investments, as applicable.
(b)Gross reductions include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, and the amortization of any premiums on equity investments, as applicable.
(21)As defined in the 1940 act, the Company is deemed to be both an “Affiliated Person” and has “Control” of this portfolio company as the Company owns more than 25% of the portfolio company’s outstanding voting securities or has the power to exercise control over management or policies of such portfolio company, including through a management agreement (“controlled affiliate”). The Company’s investments in controlled affiliates for the period ended December 31, 2024 were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company |
|
Fair Value at December 31, 2023 |
|
Gross Additions
(a)
|
|
Gross Reductions(b) |
|
Net Change in Unrealized Gain/(Loss) |
|
Realized Gain/(Loss) |
|
Transfers |
|
Fair Value at December 31, 2024 |
|
Interest and PIK Interest Income |
|
Dividend and PIK Dividend Income |
|
Other Income |
Blue Owl Credit SLF LLC |
|
$ |
— |
|
|
$ |
2,618 |
|
|
$ |
(1,669) |
|
|
$ |
(2) |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
947 |
|
|
$ |
— |
|
|
$ |
27 |
|
|
$ |
— |
|
Revolut Ribbit Holdings, LLC |
|
66,509 |
|
|
32 |
|
|
— |
|
|
39,902 |
|
|
— |
|
|
— |
|
|
106,443 |
|
|
— |
|
|
— |
|
|
— |
|
Total |
|
$ |
66,509 |
|
|
$ |
2,650 |
|
|
$ |
(1,669) |
|
|
$ |
39,900 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
107,390 |
|
|
$ |
— |
|
|
$ |
27 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a)Gross additions include increases in the cost basis of investments resulting from new investments, payment-in-kind interest or dividends, and the amortization of any unearned income or discounts on equity investments, as applicable.
(b)Gross reductions include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, and the amortization of any premiums on equity investments, as applicable.
(22)This portfolio company is not a qualifying asset under Section 55(a) of the 1940 Act. Under the 1940 Act, the Company may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of total assets. As of December 31, 2024, non-qualifying assets represented 14.2% of total assets as calculated in accordance with the regulatory requirements.
(23)Non-income producing investment.
(24)Loan was on non-accrual status as of December 31, 2024.
(25)Contains a fixed-rate structure.
(26)Harness Inc. has retained 304,990 shares until June 11, 2026 as a security for indemnity obligations detailed in the Merger Agreement with Split Software, Inc.
(27)The negative cost and fair value results from unamortized fees, which are capitalized to the investment cost of unfunded commitments.
The accompanying notes are an integral part of these consolidated financial statements.
Blue Owl Technology Finance Corp.
Consolidated Statements of Changes in Net Assets
(Amounts in thousands)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended March 31, |
|
|
|
2025 |
|
2024 |
|
|
|
|
|
|
Increase (Decrease) in Net Assets Resulting from Operations |
|
|
|
|
|
|
|
|
|
Net investment income (loss) |
$ |
97,332 |
|
|
$ |
92,638 |
|
|
|
|
|
|
|
Net change in unrealized gain (loss) |
(20,463) |
|
|
21,961 |
|
|
|
|
|
|
|
Net realized gain (loss) |
1,263 |
|
|
(23,725) |
|
|
|
|
|
|
|
Net Increase (Decrease) in Net Assets Resulting from Operations |
78,132 |
|
|
90,874 |
|
|
|
|
|
|
|
Distributions |
|
|
|
|
|
|
|
|
|
Distributions declared from earnings |
(72,507) |
|
|
(76,360) |
|
|
|
|
|
|
|
Net Decrease in Net Assets Resulting from Shareholders' Distributions |
(72,507) |
|
|
(76,360) |
|
|
|
|
|
|
|
Capital Share Transactions |
|
|
|
|
|
|
|
|
|
Issuance of common shares in connection with the Mergers(1)
|
4,278,003 |
|
|
— |
|
|
|
|
|
|
|
Reinvestment of distributions |
37,945 |
|
|
20,505 |
|
|
|
|
|
|
|
Net Increase (Decrease) in Net Assets Resulting from Capital Share Transactions |
4,315,948 |
|
|
20,505 |
|
|
|
|
|
|
|
Total Increase (Decrease) in Net Assets |
4,321,573 |
|
|
35,019 |
|
|
|
|
|
|
|
Net Assets, at beginning of period |
3,625,150 |
|
|
3,529,994 |
|
|
|
|
|
|
|
Net Assets, at end of period |
$ |
7,946,723 |
|
|
$ |
3,565,013 |
|
|
|
|
|
|
|
(1)Refer to Note 12. Merger with Blue Owl Technology Finance Corp. II (“OTF II”) for additional information on the merger between the Company and OTF II (the “Mergers”).
The accompanying notes are an integral part of these consolidated financial statements.
Blue Owl Technology Finance Corp.
Consolidated Statements of Cash Flows
(Amounts in thousands)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended March 31, |
|
|
|
|
|
2025 |
|
2024 |
|
|
Cash Flows from Operating Activities |
|
|
|
|
|
|
|
|
|
Net Increase (Decrease) in Net Assets Resulting from Operations |
|
|
|
|
$ |
78,132 |
|
|
$ |
90,874 |
|
|
|
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities: |
|
|
|
|
|
|
|
|
|
Purchases of investments, net |
|
|
|
|
(454,124) |
|
|
(253,108) |
|
|
|
Proceeds from investments and investment repayments, net |
|
|
|
|
387,592 |
|
|
340,454 |
|
|
|
Net amortization of discount on investments |
|
|
|
|
(10,598) |
|
|
(8,419) |
|
|
|
Net change in unrealized (gain) loss on investments |
|
|
|
|
20,742 |
|
|
(22,559) |
|
|
|
Net change in unrealized gain (loss) on interest rate swap attributed to unsecured notes |
|
|
|
|
12,689 |
|
|
— |
|
|
|
Net change in unrealized (gains) losses on translation of assets and liabilities in foreign currencies |
|
|
|
|
(1,074) |
|
|
605 |
|
|
|
Net realized (gain) loss on investments |
|
|
|
|
(1,847) |
|
|
22,797 |
|
|
|
Net realized (gain) loss on foreign currency transactions relating to investments |
|
|
|
|
624 |
|
|
1,645 |
|
|
|
Paid-in-kind interest |
|
|
|
|
(18,573) |
|
|
(22,346) |
|
|
|
Paid-in-kind dividends |
|
|
|
|
(9,722) |
|
|
(7,154) |
|
|
|
Amortization of debt issuance costs |
|
|
|
|
3,514 |
|
|
2,294 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash acquired in the Mergers |
|
|
|
|
647,248 |
|
|
— |
|
|
|
Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
|
|
(Increase) decrease in interest receivable |
|
|
|
|
34,096 |
|
|
(11,055) |
|
|
|
(Increase) decrease in dividend income receivable |
|
|
|
|
(11,245) |
|
|
(2,288) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(Increase) decrease in prepaid expenses and other assets |
|
|
|
|
10,978 |
|
|
(27,695) |
|
|
|
Increase (decrease) in management fee payable |
|
|
|
|
1,189 |
|
|
(261) |
|
|
|
Increase (decrease) in incentive fee payable |
|
|
|
|
(417) |
|
|
(1,055) |
|
|
|
Increase (decrease) in payables to affiliates |
|
|
|
|
384 |
|
|
976 |
|
|
|
Increase (decrease) in payable for investments purchased |
|
|
|
|
(42,075) |
|
|
(24,163) |
|
|
|
Increase (decrease) in accrued expenses and other liabilities |
|
|
|
|
(105,292) |
|
|
(547) |
|
|
|
Net cash provided by (used in) operating activities |
|
|
|
|
542,221 |
|
|
78,995 |
|
|
|
Cash Flows from Financing Activities |
|
|
|
|
|
|
|
|
|
Borrowings on debt |
|
|
|
|
675,000 |
|
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