$1,422.7M
Investments{{1}}
ABDC provides investors access to invest in a highly diverse portfolio of primarily senior secured loans to middle market companies owned by private equity sponsors.
Portfolio Highlights
~99.2%
Senior Secured Debt{{2}}
~10.3%
Annualized Distribution Yield{{3}}
$86.5M
Median LTM EBITDA{{4}}
~34%
Weighted Average Loan-to-Value{{5}}
5.1x
Weighted Average Net Senior Leverage{{6}}
Defensive Portfolio Positioning{{7}}
Industry Diversification{{8}}
Exposure to over 40 industries
As of November 5, 2024
Borrower Diversification
Portfolio comprised of over 355 borrowers
Top 10 Borrowers{{9}}
| Company Name | S&P Industry{{10}} | Commitments (% of total) |
|---|---|---|
| Amerilife Holdings, LCC | Insurance | 1.3% |
| Cerity Partners Equity Holding, LLC | Financial Services | 1.3% |
| Americhem, Inc. | Chemicals | 1.2% |
| Packaging Coordinators Midco, Inc. | Containers and Packaging | 1.2% |
| AWP Group Holdings, Inc. | Commercial Services and Supplies | 1.1% |
| Fourth Enterprises, LLC | Software | 1.1% |
| Goldeneye Parent, LLC | Health Care Technology | 1.1% |
| Innovetive Petcare, Inc. | Diversified Consumer Services | 1.0% |
| Ridge Trail US Bidco, Inc. | IT Services | 1.0% |
| Victors Purchaser, LLC | Technology Hardware, Storage and Peripherals | 1.0% |
Footnotes
1. Represents total loan commitments as of March 31, 2025.
2. Approximately 99% of the portfolio consists of First Lien loans as of March 31, 2025.
3. Distribution yield is calculated by annualizing the next month’s declared distribution by share by the most recent month-end NAV.
4. Includes all private loan investments for which fair value is determined by Antares Capital Credit Adviser LLC (“the Adviser”) at least quarterly (with assistance, as applicable, from a third-party valuation firm, and subject to oversight by the Board). Portfolio metrics are based on latest unaudited financial statements received by the Adviser and its affiliates as of March 31, 2025. LTM EBITDA refers to adjusted earnings before interest, taxes, depreciation and amortization (“EBITDA”) in accordance with the underlying governing documents, over the last twelve months as reported by respective borrowers. Excludes investments with no reported EBITDA or where EBITDA, in the Adviser’s judgment, was not a material component of the investment thesis, such as annual recurring revenue loans, or investments with negative EBITDA.
5. Includes all private loan investments for which fair value is determined by Antares Capital Credit Adviser LLC (“the Adviser”) at least quarterly (with assistance, as applicable, from a third-party valuation firm, and subject to oversight by the Board). Portfolio metrics are based on latest unaudited financial statements received by the Adviser and its affiliates as of March 31, 2025. Loan-to-Value (“LTV”) is calculated as net debt through each respective investment tranche in which the Company holds an investment divided by estimated enterprise value or value of the underlying collateral of the portfolio company. Weighted average LTV is weighted based on the funded commitment of the total applicable private loans.
6. Includes all private loan investments for which fair value is determined by Antares Capital Credit Adviser LLC (“the Adviser”) at least quarterly (with assistance, as applicable, from a third-party valuation firm, and subject to oversight by the Board). Portfolio metrics are based on latest unaudited financial statements received by the Adviser and its affiliates as of March 31, 2025. Net senior leverage is the ratio of total debt minus unrestricted cash divided by LTM EBITDA and taking into account leverage through the tranche in which the Company holds an investment, excluding recurring revenue loans. Weighted average net senior leverage is weighted based on the funded commitment of total applicable private loans.
7. Represents loan commitments in the Private Credit portfolio as of March 31, 2025. Pie charts may not sum to 100% due to rounding.
8. Industry groups are based on S&P Industry Classification. ‘Other’ category in the Loan Portfolios includes 32 industries with top concentration <4.0% of the Private Credit Loan Portfolio. ‘Other’ Industries in the Loan Portfolio are comprised of S&P industry classifications: (1) Chemicals, (2) Pharmaceuticals, (3) Capital Markets, (4) Distributors, (5) Automobile Components, (6) Energy Equipment and Services, (7) Media, (8) Construction & Engineering, (9) Electrical Equipment, (10) Electronic Equipment, Instruments and Components, (11) Machinery, (12) Technology Hardware, Storage and Peripherals, (13) Air Freight and Logistics, (14) Hotels, Restaurants and Leisure, (15) Food Products, (16) Industrial Conglomerates, (17) Oil, Gas and Consumable Fuels, (18) Construction Materials, (19) Specialty Retail, (20) Life Sciences Tools & Services, (21) Real Estate Management and Development, (22) Trading Companies and Distributors, (23) Healthcare Equipment and Supplies, (24) Household Products, (25) Building Products, (26) Transportation Infrastructure, (27) Wireless Telecommunication Services, (28) Personal Care Products, (29) Household Durables, (30) Ground Transportation, (31) Textiles, Apparel and Luxury Goods, and (32) Aerospace and Defense.
9. Borrower ranking represented by companies with the ten largest total loan commitments in the Private Credit portfolio as of March 31, 2025.
10. Based on S&P Industry Classification.