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Comprehensive Investment Portfolio Composition as of December 31, 2018


Comprehensive Investment Portfolio
Composition
(at fair value)


Amount

($mm)



%
Weighted
Average
Asset-level
Yield


First Lien Senior Secured Loans



Cash Flow 1st Lien Senior Secured Loans
$340.4
58.5%
8.1%(4)
Traditional Asset-Based 1st Lien Senior
Secured Loans(1) (North Mill)
$122.4
21.1%
17.4%(5)

Healthcare Asset-Based 1st Lien Senior
Secured Loans(1) (Gemino)
$108.6
18.7%
10.5%(5)


Total First Lien Senior Secured Loans
$571.4
98.3%
10.6%
Cash Flow 2nd Lien Senior Secured Loans
$10.0
1.7%
7.2%(4)
Equity and Equity-like Securities(2)
$0.2
<0.1%



Total Comprehensive Investment Portfolio
$581.6
100%
10.5%(6)


Floating Rate Investments(3)
$534.0
91.8%



(1) Includes North Mill and Gemino's full asset-based funded loan portfolios, all of which are 1st lien senior secured loans.
(2) Excludes the Company’s equity investments in North Mill and Gemino, which distribute quarterly dividends to the Company.
(3) Floating rate investments calculated as a percent of the Company’s income-producing Comprehensive Investment Portfolio. (excludes equity)

(4) Represents the yield to maturity based on fair market value at 12/31/18.

(5) Represents total interest and fee income for the three months ending on December 31, 2018 against the average portfolio over the same period, annualized. For North Mill, the revenue yield for Q4 2018 is higher than historical levels due to the receipt of one-time prepayment fees on certain repaid loans..

(6) Weighted average asset-level yield of the Comprehensive Portfolio's income-producing assets. 

Portfolio Highlights
Portfolio Composition
Investment Strategies
     Cash Flow Lending
     Asset-Based Lending
          Healthcare Specialized ABL
          Traditional ABL