Comprehensive Investment Portfolio Composition as of June 30, 2019
(at fair value)
Cash Flow Senior Secured Loans
Asset-Based Senior Secured Loans / Crystal Financial(1)
Equipment Senior Secured Financings / NEF(2)
Life Science Senior Secured Loans
Total Senior Secured Loans
Equity and Equity-like Securities(3)
Total Comprehensive Investment Portfolio
Floating Rate Investments(4)
First Lien Senior Secured Loans
Second Lien Senior Secured Loans
(1) Includes Crystal’s full portfolio, including the Company’s pro rata ownership of Crystal’s SBIC, and asset-based loans and lender finance loans on the Company’s balance sheet and excludes the Company;s equity investment in Crystal.
(2) Includes NEF’s full portfolio and NEF equipment financings on the Company’s balance sheet and excludes the Company's equity investment in NEF.
(3) Excludes Crystal and NEF, which distribute quarterly dividends to the Company.
(4) Floating rate investments calculated as a percent of the Company’s income-producing Comprehensive Investment Portfolio. The majority of fixed rate loans are associated with NEF and are short in duration with average hold periods of 2.5 years. Additionally, NEF seeks to match-fund its fixed rate assets with fixed rate liabilities.
(5) The weighted average asset yield for cash flow, asset-based and life science loans on balance sheet is based on a yield to maturity calculation based on fair value at June 30, 2019. The weighted average asset yield for equipment financing and Crystal asset-based loans is calculated based on the expected average life of a loan in each respective asset class.
(6) Represents the weighted average of each individual loan's yield to maturity based on fair value at 6/30/2019, excluding the impact of success fees and/or warrants.